Palisade Bio (PALI) 10-Q 15 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 11, 2022
Cover [Abstract]
Entity Central Index Key	0001357459
Entity Registrant Name	PALISADE BIO, 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	001-33672
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-2007292
Entity Address, Address Line One	7750 El Camino Real, Suite 5200
Entity Address, City or Town	Carlsbad
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92009
City Area Code	858
Local Phone Number	704-4900
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	PALI
Security Exchange Name	NASDAQ
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 Common Stock, Shares Outstanding		21,880,169

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 4,980,000	$ 10,495,000
Prepaid expenses and other current assets	2,435,000	1,879,000
Total current assets	7,415,000	12,374,000
Restricted cash	26,000	26,000
Right-of-use asset	363,000	109,000
Property and equipment, net	2,000	3,000
Total assets	7,806,000	12,512,000
Current liabilities:
Accounts payable	1,041,000	1,323,000
Accrued liabilities	1,034,000	463,000
Accrued compensation and benefits	76,000	511,000
Current portion of lease liability	98,000	112,000
Current portion of debt	611,000	87,000
Total current liabilities	2,860,000	2,496,000
Warrant liability	469,000	2,651,000
Lease liability, net of current portion	266,000	0
Total liabilities	3,595,000	5,147,000
Commitments and contingencies (Note 9)
Stockholders' equity:
Common stock, $0.01 par value; 300,000,000 shares authorized as of June 30, 2022 and December 31, 2021, 21,880,169 and 14,239,177 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively	220,000	143,000
Additional paid-in capital	105,180,000	101,862,000
Accumulated deficit	(101,191,000)	(94,642,000)
Total stockholders' equity	4,211,000	7,365,000
Total liabilities and stockholders' equity	7,806,000	12,512,000
Series A Preferred Stock [Member]
Stockholders' equity:
Series A convertible Preferred Stock, 7,000,000 shares authorized, $0.01 par value; 200,000 issued and outstanding at June 30, 2022 and December 31, 2021	$ 2,000	$ 2,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	21,880,169	14,239,177
Common stock, shares outstanding (in shares)	21,880,169	14,239,177
Series A Preferred Stock [Member]
Preferred stock, shares authorized (in shares)	7,000,000	7,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	200,000	200,000
Preferred stock, shares outstanding (in shares)	200,000	200,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating expenses:
Research and development	$ 1,317	$ 314	$ 2,276	$ 1,006
In-process research and development	0	30,117	0	30,117
General and administrative	2,255	2,427	5,184	3,688
Total operating expenses	3,572	32,858	7,460	34,811
Loss from operations	(3,572)	(32,858)	(7,460)	(34,811)
Other income (expense):
Gain on forgiveness of PPP loan	0	0	0	279
Loss on issuance of secured debt	0	0	0	(686)
Gain on change in fair value of warrant liability	1,225	5,133	2,018	5,175
Gain on change in fair value of share liability	0	73	0	73
Interest expense	(5)	(655)	(6)	(2,367)
Other income	8	16	9	16
Loss on issuance of LBS Series 1 Preferred Stock	0	(1,881)	0	(1,881)
Loss on issuance of warrants	0	(1,574)	(1,110)	(1,574)
Total other income (expense)	1,228	1,112	911	(965)
Net loss	$ (2,344)	$ (31,746)	$ (6,549)	$ (35,776)
Loss per share:
Basic net loss per common share	$ (0.12)	$ (3.59)	$ (0.36)	$ (6.17)
Diluted net loss per common share	$ (0.12)	$ (4.10)	$ (0.36)	$ (6.96)
Weighted average shares used in computing loss per share:
Weighted average shares used in calculating basic loss per share	20,294,652	8,831,517	18,281,788	5,803,010
Weighted-average shares outstanding	20,294,652	8,984,198	18,281,788	5,879,351
Net loss attributable to common shares - basic	$ (2,344)	$ (31,746)	$ (6,549)	$ (35,776)
Net loss attributable to common shares - diluted	$ (2,344)	$ (36,865)	$ (6,549)	$ (40,895)

Condensed Consolidated Statem_2

Condensed Consolidated Statements Convertible Preferred Stock and Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Total	Direct registered offering	Series C Convertible Preferred Stock [Member]	Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member] Direct registered offering	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Direct registered offering	Accumulated Deficit [Member]	Conversion Of Senior Secured Debt To Lbs Series1 Preferred Shares Member	Conversion Of Senior Secured Debt To Lbs Series1 Preferred Shares Member Preferred Stock [Member]	Conversion Of Senior Secured Debt To Lbs Series1 Preferred Shares Member Additional Paid-in Capital [Member]	Conversion Of L B S Series1 Preferred Stock To Common Shares Upon Merger Member Preferred Stock [Member]	Conversion Of L B S Series1 Preferred Stock To Common Shares Upon Merger Member Common Stock [Member]	Conversion Of L B S Series1 Preferred Stock To Common Shares Upon Merger Member Additional Paid-in Capital [Member]	Conversion Of L B S Series C Preferred Shares To Common Shares Upon Merger Member	Conversion Of L B S Series C Preferred Shares To Common Shares Upon Merger Member Series C Convertible Preferred Stock [Member]	Conversion Of L B S Series C Preferred Shares To Common Shares Upon Merger Member Common Stock [Member]	Conversion Of L B S Series C Preferred Shares To Common Shares Upon Merger Member Additional Paid-in Capital [Member]
Balance (in shares) at Dec. 31, 2020			11,674,131		2,774,502
Balance at Dec. 31, 2020	$ (16,602)		$ 9,503		$ 28		$ 51,396		$ (68,026)
Net loss	(35,776)								(35,776)
Stock-based compensation expense	1,064						1,064
Issuance of common stock to vendor (in shares)					118,833
Issuance of common stock to vendor	1,184				$ 1		1,183
Issuance of common stock warrants related to promissory note	16						16
Conversion of convertible securities (in shares)											786,957
Conversion of convertible securities										$ 2,421		$ 2,421
Issuance of LBS Series 1 Preferred shares (in shares)				4,516,611
Conversion of LBS Series Preferred stock to common shares upon Merger, shares issued (in shares)													(5,303,568)	5,303,568				317,420
Conversion of LBS Series Preferred stock to common shares upon Merger, shares issued	9,503													$ 53	$ (53)	$ 9,503		$ 3	$ 9,500
Conversion of stock (in shares)																	(11,674,131)
Conversion of stock																	$ (9,503)
Issuance of common shares to former shareholders of Seneca upon Merger (in shares)					2,884,375
Issuance of common shares to former shareholders of Seneca upon Merger	28,728				$ 29		28,699
Acquisition of Seneca Series A Preferred Stock upon Merger (in shares)				200,000
Acquisition of Seneca Series A Preferred Stock upon Merger	2			$ 2
Restricted stock units vested upon Merger	41						41
Equity warrant put rights activated upon Merger	(51)						(51)
Expiration of put rights on equity classified warrants	$ 26						26
Balance (in shares) at Jun. 30, 2021	0		0	200,000	11,398,698
Balance at Jun. 30, 2021	$ (9,444)		$ 0	$ 2	$ 114		94,242		(103,802)
Balance (in shares) at Mar. 31, 2021			11,674,131		2,774,502
Balance at Mar. 31, 2021	(20,063)		$ 9,503		$ 28		51,965		(72,056)
Net loss	(31,746)								(31,746)
Stock-based compensation expense	495						495
Issuance of common stock to vendor (in shares)					118,833
Issuance of common stock to vendor	1,184				$ 1		1,183
Issuance of common stock warrants related to promissory note	16						16
Conversion of convertible securities (in shares)											786,957
Conversion of convertible securities										$ 2,421		$ 2,421
Issuance of LBS Series 1 Preferred shares (in shares)				4,516,611
Conversion of LBS Series Preferred stock to common shares upon Merger, shares issued (in shares)													(5,303,568)	5,303,568				317,420
Conversion of LBS Series Preferred stock to common shares upon Merger, shares issued														$ 53	$ (53)	$ 9,503		$ 3	$ 9,500
Conversion of stock (in shares)																	(11,674,131)
Conversion of stock																	$ (9,503)
Issuance of common shares to former shareholders of Seneca upon Merger (in shares)					2,884,375
Issuance of common shares to former shareholders of Seneca upon Merger	28,728				$ 29		28,699
Acquisition of Seneca Series A Preferred Stock upon Merger (in shares)				200,000
Acquisition of Seneca Series A Preferred Stock upon Merger	2			$ 2
Restricted stock units vested upon Merger	41						41
Equity warrant put rights activated upon Merger	(51)						(51)
Expiration of put rights on equity classified warrants	$ 26						26
Balance (in shares) at Jun. 30, 2021	0		0	200,000	11,398,698
Balance at Jun. 30, 2021	$ (9,444)		$ 0	$ 2	$ 114		94,242		(103,802)
Balance (in shares) at Dec. 31, 2021				200,000	14,239,177
Balance at Dec. 31, 2021	7,365			$ 2	$ 143		101,862		(94,642)
Net loss	(6,549)								(6,549)
Stock-based compensation expense	694						694
Issuance of common stock upon warrant exercises (in shares)					3,994,302
Issuance of common stock upon warrant exercises	1,274				$ 40		1,234
Issuance of common stock warrants related to promissory note (in shares)						3,646,690
Issuance of common stock warrants related to promissory note		$ 1,427				$ 37		$ 1,390
Conversion of LBS Series Preferred stock to common shares upon Merger, shares issued	0
Balance (in shares) at Jun. 30, 2022			0	200,000	21,880,169
Balance at Jun. 30, 2022	4,211		$ 0	$ 2	$ 220		105,180		(101,191)
Balance (in shares) at Mar. 31, 2022				200,000	18,233,479
Balance at Mar. 31, 2022	4,792			$ 2	$ 183		103,454		(98,847)
Net loss	(2,344)								(2,344)
Stock-based compensation expense	336						336
Issuance of common stock warrants related to promissory note (in shares)						3,646,690
Issuance of common stock warrants related to promissory note		$ 1,427				$ 37		$ 1,390
Balance (in shares) at Jun. 30, 2022			0	200,000	21,880,169
Balance at Jun. 30, 2022	$ 4,211		$ 0	$ 2	$ 220		$ 105,180		$ (101,191)

Condensed Consolidated Statem_3

Condensed Consolidated Statements Convertible Preferred Stock and Stockholders' Equity (Deficit) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Payment of equity issuance costs		$ 16
Common Stock
Payment of equity issuance costs	$ 634	$ 634

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Net loss	$ (6,549)	$ (35,776)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	1	2
In-process research and development	0	30,117
Noncash transaction costs shared with Seneca	0	(135)
Noncash lease expense	94	80
Gain on forgiveness of PPP loan	0	(279)
Accretion of debt discount and non-cash interest expense	0	2,203
Loss on issuance of LBS Series 1 Preferred Stock	0	1,881
Loss on issuance of secured debt	0	686
Loss on issuance of warrants	1,110	1,574
Change in fair value of warrant liabilities	(2,018)	(5,175)
Change in fair value of share liability	0	(73)
Stock-based compensation	694	1,064
RSU vesting expense	0	41
Other	(213)	(183)
Changes in operating assets and liabilities
Other receivables	0	25
Prepaid and other assets	228	(1,294)
Accounts payable and accrued liabilities	170	(2,133)
Accrued compensation	(435)	(1,518)
Operating lease liabilities	(96)	(79)
Net cash used in operating activities	(7,014)	(8,972)
Cash flows from investing activities:
Cash acquired in connection with the Merger	0	3,279
Acquisition related costs paid	0	(2,985)
Net cash provided by investing activities	0	294
Cash flows from financing activities
Payments on debt	(260)	(285)
Proceeds from issuance of debt	0	1,250
Proceeds from issuance of LBS Series 1 Preferred Stock	0	19,900
Gross Proceeds	1,775
Redemption of warrants	0	(99)
Payment of equity issuance costs	(16)	0
Payment of debt issuance costs	0	(148)
Net cash provided by financing activities	1,499	20,618
Net (decrease) increase in cash, cash equivalents and restricted cash	(5,515)	11,940
Cash, cash equivalents and restricted cash, beginning of period	10,521	739
Cash, cash equivalents and restricted cash, end of period	5,006	12,679
Reconciliation of cash, cash equivalents and restricted cash to the balance sheets
Cash and cash equivalents	4,980	12,653
Restricted cash	26	26
Total cash, cash equivalents and restricted cash	5,006	12,679
Supplemental disclosure of cash flows
Interest Paid	5	50
Right-of-use assets obtained in exchange for lease liabilities	355	0
Supplemental disclosures of non-cash investing and financing activities
Equity issuance costs included in accounts payable and accrued liabilities	332	0
Issuance of common stock for the cashless exercise of warrants	1,274	0
Fair value of warrants issued to placement agent	55	0
Insurance financing arrangements included in prepaid and other assets	784	839
Acquisition related costs included in accounts payable and accrued liabilities	0	367
Transaction costs shared with Seneca	0	135
Acquisition costs related to stock issuance	0	1,184
Issuance of common stock to former Seneca stockholders	0	28,728
Conversion of LBS Series C Preferred stock into common stock	0	9,503
Net assets acquired in the Merger	0	2
Acquisition related vesting of RSU’s assumed in the Merger	0	41
Acquisition related fair value change in warrant liability assumed in the Merger	$ 0	$ 51

Note 1 - Organization, Business

Note 1 - Organization, Business and Financial Condition	6 Months Ended
	Jun. 30, 2022
Disclosure Text Block [Abstract]
Organization, Business and Financial Condition	1. Organization, Business and Financial Condition The Merger On April 27, 2021, Leading Biosciences, Inc. (“LBS”) became a wholly owned subsidiary of Seneca Biopharma Inc. (“Seneca”) in accordance with the terms of the agreement and plan of merger and reorganization, dated as of December 16, 2020, (the “Merger Agreement”) by and among Seneca, Townsgate Acquisition Sub 1, Inc., a wholly owned subsidiary of Seneca (“Merger Sub”), and LBS, pursuant to which Merger Sub merged with and into LBS, with LBS surviving as a wholly owned subsidiary of Seneca (the “Merger”). Concurrent with the closing of the Merger, LBS outstanding common stock, common stock warrants and options for the purchase of LBS common stock were exchanged for Seneca common stock, Seneca common stock warrants, and options for the purchase of Seneca common stock, at a ratio of 0.02719 shares of LBS common stock equivalents to one share of Seneca common stock equivalents (the “Exchange Ratio”). On April 27, 2021, in connection with the Merger, Seneca filed a certificate of amendment to its amended and restated certificate of incorporation to affect a 1-for- 6 reverse stock split of its common stock (the "Reverse Stock Split"). The par value and the authorized shares of the common stock were not adjusted as a result of the Reverse Stock Split. The final Exchange Ratio incorporated the effect of this Reverse Stock Split, and all issued and outstanding common stock have been retroactively adjusted to reflect this Reverse Stock Split for all periods presented. All issued and outstanding shares of LBS common stock and shares of common stock underlying convertible preferred stock, options and warrants prior to the effective date of the Merger have been retroactively adjusted to reflect the Exchange Ratio for all periods presented herein these condensed consolidated financial statements. Unless the context otherwise requires, references to the “Company,” “Palisade,” “Palisade Bio,” the “combined organization,” “we,” “our” or “us” in this report refer to Palisade Bio, Inc. and its subsidiaries after completion of the Merger. In addition, references to “Seneca” or “LBS” refer to these entities prior to the completion of the Merger. Description of Business The Company is a clinical stage biopharmaceutical company advancing therapies that aim to aid patients suffering with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage. The Company's lead asset LB1148, is a protease inhibitor with the potential to both reduce abdominal adhesions and help restore bowel function following surgery. The Company believes that its investigational therapies have the potential to address the myriad of health conditions and complications associated with the chronic disruption to the gastrointestinal epithelial barrier. Liquidity and Going Concern The Company has a limited operating history and the sales and income potential of the Company’s business and market are unproven. The Company has experienced losses and negative cash flows from operations since its inception. At June 30, 2022, the Company had an accumulated deficit of $ 101.2 million and cash and cash equivalents of $ 5.0 million. The Company expects to continue to incur losses into the foreseeable future. The successful transition to attaining profitable operations is dependent upon achieving a level of revenues adequate to support the Company’s cost structure. Historically, the Company has funded its operations primarily through a combination of debt and equity financings. Management anticipates continuing to raise additional capital from the sale of its securities or through agreements, such as entering into potential partnering events for Company’s existing technology. However, no assurance can be given as to whether the Company will achieve these objectives. Based on the Company’s current business plan, management believes that existing cash and cash equivalents will not be sufficient to fund the Company’s obligations for at least 12 months from the date of issuance of these financial statements. The Company’s ability to execute its operating plan depends on its ability to obtain additional funding through equity offerings, debt financings or potential licensing and collaboration arrangements. The financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and settlement of liabilities in the normal course of business. However, the Company’s current working capital, anticipated operating expenses and net operating losses raise substantial doubt about its ability to continue as a going concern for a period of one year following the date that these financial statements are issued. The financial statements do not include any adjustments for the recovery and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company plans to continue to fund its operations through cash and cash equivalents on hand, as well as through future equity offerings, debt financings, other third-party funding, and potential licensing or collaboration arrangements. Refer to Note 5, Stockholders' Equity, for discussion of the recent financings undertaken by the Company. There can be no assurance that additional funds will be available when needed from any source or, if available, will be available on terms that are acceptable to the Company. Even if the Company raises additional capital, it may also be required to modify, delay or abandon some of its plans which could have a material adverse effect on the Company’s business, operating results and financial condition and the Company’s ability to achieve its intended business objectives. Any of these actions could materially harm the Company’s business, results of operations and future prospects. COVID-19 In April 2020, as a result of impacts and risks associated with the COVID-19 pandemic (COVID-19), the Company paused enrollment and program activities surrounding the Company’s clinical trials of its lead therapeutic candidate, LB1148. Clinical trials of LB1148 have re-started in February 2022 and in June 2022, the Company initiated its phase 3 return of bowel function clinical study. Supply chain constraints associated with the COVID-19 pandemic have impacted the availability of the components needed in the manufacture of LB1148. Depending on the rate of the local and global supply chain recovery from the impact of the COVID-19 pandemic, the Company's suppliers could continue to be adversely impacted, which may result in delays or disruptions in the Company's current or future supply chain. The Company cannot predict how legal and regulatory responses to ongoing concerns about COVID-19 or other major public health issues will impact the Company’s business, nor can it predict potential adverse impacts related to the availability of capital to fund the Company’s operations. Any of these factors, alone or in combination with others, could harm the Company’s business, results of operations, financial condition or liquidity. However, the magnitude, timing, and duration of any such potential financial impacts cannot be reasonably estimated at this time.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation and Consolidation In management’s opinion, the accompanying interim condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly the Company's financial position, results of operations and cash flows. The interim results of operations are not necessarily indicative of the results that may occur for the full year. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission (“SEC”). The Company believes that the disclosures provided herein are adequate to make the information presented not misleading when these condensed consolidated financial statements are read in conjunction with the financial statements and notes included in the Company’s financial statements filed on the Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on March 17, 2022. The accompanying condensed consolidated financial statements prior to the closing of the Merger are representative of LBS’s operations as LBS was determined to be the accounting acquirer for financial reporting purpose. The condensed consolidated financial statements subsequent to the closing of the Merger include the accounts of the Company and its wholly owned subsidiaries, Leading Biosciences, Inc. and Suzhou Neuralstem Biopharmaceutical Co., Ltd. All the entities are consolidated in the Company's condensed consolidated financial statements and all intercompany activity and transactions, if any, have been eliminated . Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates, judgments, and assumptions that impact the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the balance sheet, and the reported amounts of expenses during the reporting period. The most significant estimates in the Company’s condensed consolidated financial statements relate to clinical trial accruals and the valuation of derivative liabilities and stock-based compensation instruments. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may materially differ from these estimates and assumptions. Segment Information Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, the Chief Executive Officer, in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as one operating segment which consists of research and development activities. Cash and Cash Equivalents Cash and cash equivalents represent cash available in readily available checking and money market accounts. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Restricted Cash As of June 30, 2022 and December 31, 2021, the Company held restricted cash of $ 26,000 , in a separate restricted bank account as collateral for the Company’s corporate credit card program. The Company has classified these deposits as long-term restricted cash on its condensed consolidated balance sheets . Deferred Equity Issuance Costs Deferred equity issuance costs consist of the legal, accounting and other direct and incremental costs incurred by the Company related to its equity offerings. As of June 30, 2022, deferred equity issuance cos ts of $ 263,000 w ere included in prepaid and other assets in the condensed consolidated balance sheet. There were no deferred equity issuance costs as of December 31, 2021. These costs will be netted against additional paid-in capital as a cost of the future equity issuances to which they relate. Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentration of credit risk, consist primarily of cash and cash equivalents. The Company maintains deposits in federally insured financial institutions and in money market accounts, and at times balances may exceed federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held nor has the Company experienced any losses in these accounts. Convertible Preferred Stock The Company’s Series C Convertible Preferred Stock ("Series C Convertible Preferred Stock") has been classified as temporary equity, in accordance with authoritative guidance for the classification and measurement of potentially redeemable securities as the stock is conditionally redeemable upon certain change in control events outside of the Company’s control, including the liquidation, sale or transfer of control of the Company. Upon such change in control events the holders of the Series C Convertible Preferred Stock can cause its redemption. In connection with the Merger, the Series C Convertible Preferred Stock converted to common stock. Fair Value of Financial Instruments The Company’s financial instruments consist principally of cash and cash equivalents, restricted cash, accounts payable, accrued liabilities, and derivative liabilities. The carrying amounts of financial instruments such as cash equivalents, restricted cash, accounts payable, and accrued liabilities approximate their related fair values due to the short-term nature of these instruments. The carrying value of the Company’s debt approximates its fair value due to the market rate of interest, which is based on level 2 inputs. The Company’s derivative financial instruments are carried at fair value based on level 3 inputs as defined below. The Company follows Accounting Standards Codification ("ASC") 820, Fair Value Measurements and Disclosures which, among other things, defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a three-tier fair value hierarchy has been established, which prioritizes the inputs used in measuring fair value as follows: (1) Level 1: observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities; (2) Level 2: inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (3) Level 3: unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions, which reflect those that a market participant would use. Further information on the fair value of financial instruments can be found at Note 4, Fair Value Measurements. Derivative Financial Instruments The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates its financial instruments, including warrants, to determine if such instruments are derivatives, or contain features that qualify as embedded derivatives, or otherwise require liability classification under U.S. GAAP. The Company values its derivatives using the Black-Scholes option-pricing model or other acceptable valuation models, including Monte-Carlo simulations. Derivative instruments are valued at inception, upon events such as an exercise of the underlying financial instrument, and at subsequent reporting periods. The classification of derivative instruments, including whether such instruments should be recorded as liabilities, is re-assessed at the end of each reporting period. The Company reviews the terms of debt instruments, equity instruments, and other financing arrangements to determine whether there are embedded derivative features, including embedded conversion options that are required to be bifurcated and accounted for separately as a derivative financial instrument. Additionally, in connection with the issuance of financing instruments, the Company may issue freestanding options and warrants, including options or warrants to non-employees in exchange for consulting or other services performed. The Company accounts for its common stock warrants in accordance with ASC 480, Distinguishing Liabilities from Equity ("ASC 480") and ASC 815, Derivatives and Hedging (“ASC 815”). Based upon the provisions of ASC 480 and ASC 815, the Company accounts for common stock warrants as liabilities if the warrant requires net cash settlement or gives the holder the option of net cash settlement, or it fails the equity classification criteria. The Company accounts for common stock warrants as equity if the contract requires physical settlement or net physical settlement or if the Company has the option of physical settlement or net physical settlement and the warrants meet the requirements to be classified as equity. Common stock warrants classified as liabilities are initially recorded at fair value on the grant date and remeasured at fair value each balance sheet date with the offset adjustments recorded in change in fair value of warrant liability within the condensed consolidated statements of operations. If the terms of a common stock warrant previously classified as a liability are amended and pursuant to such amendment meet the requirements to be classified as equity, the common stock warrants are reclassified to equity at the fair value on the date of the amendment and are not subsequently remeasured. Common stock warrants classified as equity are recorded on a relative fair value basis when they are issued with other equity classified financial instruments. Research and Development Costs Research and development expenses consist primarily of salaries and other personnel related expenses including stock-based compensation costs, preclinical costs, clinical trial costs, costs related to acquiring and manufacturing clinical trial materials, and contract services. All research and development costs are expensed as incurred . Clinical Trial Expenses Expenses related to clinical studies are based on estimates of the services received and efforts expended pursuant to the Company’s contract arrangements. The financial terms of these agreements are subject to negotiation, vary from contract to contract, and may result in uneven payment flows. There may be instances in which payments made to the Company’s service providers will temporarily exceed the level of services provided and result in a prepayment of the clinical expense. Payments under some of these contracts depend on factors such as the successful enrollment of patients, site initiation and the completion of clinical milestones. The Company makes estimates of its accrued expenses as of each balance sheet date in its consolidated financial statements based on facts and circumstances known at that time. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from its estimate, the Company adjusts the accrual or prepaid expense balance accordingly. As of June 30, 2022 and December 31, 2021, the Company has accrued for $ 132,000 and $ 158,000 , respectively, in clinical trial expenses for which services have been provided but payment has not yet occurred. Clinical trial expenses are included in research and development expenses in the condensed consolidated statements of operations . Patent Costs Costs related to filing and pursuing patent applications (including direct application fees, and the legal and consulting expenses related to making such applications) are expensed as incurred, as recoverability of such expenditures is uncertain. These costs are included in general and administrative expenses in the condensed consolidated statements of operations . Debt Issuance Costs Debt issuance costs incurred to obtain debt financing are deferred and are amortized over the term of the debt using the effective interest method. Debt issuance costs are recorded as a reduction to the carrying value of the debt and are amortized to interest expense in the condensed consolidated statements of operations. Income Taxes The Company follows the ASC 740, Income Taxes, or ASC Topic 740 (“ASC 740”), in reporting deferred income taxes. ASC 740 requires a company to recognize deferred tax assets and liabilities for expected future income tax consequences of events that have been recognized in the Company’s condensed consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities using enacted tax rates in the years in which the temporary differences are expected to reverse. Valuation allowances are provided if, based on the weight of available evidence, it is more likely than not that some of or all the deferred tax assets will not be realized. The Company accounts for uncertain tax positions pursuant to ASC 740, which prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in the provision for income taxes. Stock-Based Compensation Stock-based compensation expense represents the cost of the estimated grant date fair value of employee and non-employee stock option grants recognized over the requisite service period of the awards, which is usually the vesting period, on a straight-line basis. The Company recognizes forfeitures as they occur as a reduction of expense. The Company estimates the fair value of employee and non-employee stock option grants using the Black-Scholes option pricing model . Net Loss Per Common Share Basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Certain of the Company's outstanding warrants (See Note 6) contain non-forfeitable rights to dividends with the common stockholders, and therefore are considered to be participating securities. These warrants do not have a contractual obligation to fund the losses of the Company; therefore, the application of the two-class method is not required when the Company is in a net loss position but is required when the Company is in a net income position. When in a net income position, diluted earnings per share is computed using the more dilutive of the two-class method or the if-converted and treasury stock methods. As the Company was in a net loss position for all periods presented, basic and diluted loss per common share for the three and six months ended June 30, 2022 and 2021 were calculated under the if-converted and treasury stock methods. For the three and six months ended June 30, 2022, basic and diluted loss per common share were the same as all common stock equivalents were anti-dilutive for both periods. Certain of the Company's liability classified warrants were dilutive in the second quarter of 2021 resulting in a dilutive impact for the three and six months ended June 30, 2021. The following table presents the calculation of weighted average shares used to calculate basic and diluted loss per share (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Basic net loss per common share: Net loss attributable to common shares - basic $ ( 2,344 ) $ ( 31,746 ) $ ( 6,549 ) $ ( 35,776 ) Weighted average shares used in calculating basic loss per share 20,294,652 8,831,517 18,281,788 5,803,010 Basic net loss per common share $ ( 0.12 ) $ ( 3.59 ) $ ( 0.36 ) $ ( 6.17 ) Diluted net loss per common share: Net loss $ ( 2,344 ) $ ( 31,746 ) $ ( 6,549 ) $ ( 35,776 ) Change in fair value of warrants — ( 5,119 ) — ( 5,119 ) Net loss attributable to common shares - diluted $ ( 2,344 ) $ ( 36,865 ) $ ( 6,549 ) $ ( 40,895 ) Weighted-average shares outstanding 20,294,652 8,831,517 18,281,788 5,803,010 Effect of potentially dilutive securities — 152,681 — 76,341 Weighted average shares used in calculating diluted loss per share 20,294,652 8,984,198 18,281,788 5,879,351 Diluted net loss per common share $ ( 0.12 ) $ ( 4.10 ) $ ( 0.36 ) $ ( 6.96 ) The following potentially dilutive securities were excluded from the calculation of diluted net loss per share because their effects would be anti-dilutive: June 30, 2022 2021 Stock options 2,656,455 802,455 Warrants for common stock 9,213,008 851,168 Series A Convertible Preferred Stock 6,479 6,479 Restricted Stock Units Outstanding — 8,817 Total 11,875,942 1,668,919 Comprehensive Income (Loss) Comprehensive income (loss) is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company’s comprehensive loss was the same as its reported net loss for all periods presented. Recently Adopted Accounting Pronouncements In August 2020, FASB issued Accounting Standards Update ("ASU") 2020-06 , Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) — Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity ("ASU- 2020-06"), which, among other things, provides guidance on how to account for contracts on an entity’s own equity. This ASU simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. Specifically, the ASU eliminated the need for the Company to assess whether a contract on the entity’s own equity (1) permits settlement in unregistered shares, (2) whether counterparty rights rank higher stockholder’s rights, and (3) whether collateral is required. In addition, the ASU requires incremental disclosure related to contracts on the entity’s own equity and clarifies the treatment of certain financial instruments accounted for under this ASU on earnings per share. This ASU may be applied on a full retrospective of modified retrospective basis. For smaller reporting companies, this ASU is effective for fiscal years beginning after December 15, 2023 , including interim periods within those fiscal years. Early adoption of the ASU is permitted for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company early adopted this standard on January 1, 2022 and determined that it had no impact on the accounting for its liability-classified warrants as of the date of adoption. Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13 , Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The ASU introduced a new credit loss methodology, the Current Expected Credit Losses (“CECL”) methodology, which requires earlier recognition of credit losses, while also providing additional transparency about credit risk. The CECL methodology utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans, held-to maturity debt securities, trade receivables and other receivables measured at amortized cost at the time the financial asset is originated or acquired. After the issuance of ASU 2016-13 , the FASB issued several additional ASUs to clarify implementation guidance, provide narrow-scope improvements and provide additional disclosure guidance. In November 2019, the FASB issued an amendment making this ASU effective for fiscal years beginning after December 15, 2022 for smaller reporting companies. The Company plans to adopt this standard in the first quarter of 2023 and does not expect the adoption will have a significant impact on its financial statements and related disclosures.

Note 3 - Balance Sheet Details

Note 3 - Balance Sheet Details	6 Months Ended
	Jun. 30, 2022
Disclosure Text Block [Abstract]
Balance Sheet Details	3. Balance Sheet Details Accrued liabilities consisted of the following (in thousands): June 30, December 31, 2022 2021 Accrued accounts payable $ 780 $ 195 Accrued clinical trial costs 132 158 Accrued director stipends 111 110 Accrued other 11 — $ 1,034 $ 463 Prepaid expenses and other current assets consisted of the following (in thousands): June 30, December 31, 2022 2021 Prepaid insurance $ 1,818 $ 1,408 Other receivables 20 150 Prepaid subscriptions and fees 212 215 Prepaid software licenses 101 78 Deposits 21 26 Deferred equity issuance costs 263 — Prepaid other — 2 $ 2,435 $ 1,879

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Disclosure Text Block [Abstract]
Fair Value Measurements	4. Fair Value Measurements The Company has issued warrants that are accounted for as liabilities. Estimating fair values of liability-classified financial instruments requires the development of estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. In addition, option-based techniques are highly volatile and sensitive to changes in the trading market price of the Company’s common stock. Because liability-classified financial instruments are initially and subsequently carried at fair values, the Company’s financial results will reflect the volatility in these estimate and assumption changes. Changes in fair value are recognized as a component of other income (expense) in the condensed consolidated statement of operations. In connection with the transactions contemplated by the Merger, on December 16, 2020, the Company entered into a securities purchase agreement (the "Securities Purchase Agreement") with an investor (the "Investor") pursuant to which, among other things, warrants to purchase 858,892 shares of the Company’s common stock (“Senior Secured Promissory Note Warrants”) were issued. On May 20, 2021, pursuant to the terms of the Securities Purchase Agreement, the Company issued to the Investor warrants to purchase 4,995,893 shares of common stock at an exercise price of $ 4.70 per share (the “May 2021 Warrants”). In June 2021, pursuant to the reset provisions of the Securities Purchase Agreement, the number of shares of common stock underlying the May 2021 Warrants increased to 5,303,568 shares and the exercise price was reduced to $ 3.88 per share. All of the outstanding May 2021 Warrants were exercised in exchange for 5,303,568 shares of the Company's common stock in a series of exercises by the Investor. As of June 30, 2022 , there are no May 2021 Warrants outstanding. On July 21, 2021, the Company and the Investor entered into an agreement to waive certain provisions of the previous Security Purchase Agreement (the "July 2021 Waiver Agreement"). As part of the July 2021 Waiver Agreement, the Investor agreed to waive the reset provisions of the Senior Secured Promissory Note Warrants and the May 2021 Warrants such that the number of shares and exercise price in effect immediately prior to the effective date of the Waiver Agreement shall no longer be subject to price-based resets. The waiver of the reset provision of the Senior Secured Promissory Note Warrants and the May 2021 Warrants is considered a modification to those warrants and as a result, the underlying warrants were re-valued using a Black-Scholes based valuation model, which resulted in a favorable change in the fair value of the underlying warrants of $ 3.9 million. As consideration for the Waiver Agreement, the Company issued the Investor additional warrants to purchase 1,100,000 shares of the Company's Common Stock at an exercise price of $ 3.63 per share (the "July 2021 Warrants"). On January 31, 2022, the Company and the Investor entered into an agreement to irrevocably waive any adjustment to the exercise price of the Senior Secured Promissory Note Warrants and the May 2021 Warrants held by the Investor from and after the Effective Date for the Company's issuances of equity or equity-linked securities at a price below the exercise price of the warrants (the "January 2022 Waiver Agreement"). The waiver of any adjustments to the exercise price of the Senior Secured Promissory Note Warrants and the May 2021 Warrants is considered a modification to those warrants. As consideration for the foregoing, pursuant to the January 2022 Waiver Agreement, the Company issued the Investor an additional warrant to purchase up to 2,250,000 shares of the Company’s common stock (the “January 2022 Warrant”). The initial fair value of the January 2022 Warrants was determined to be $ 1.1 million and is included in loss on issuance of warrants in the condensed consolidated statements of operations. The initial fair value was determined using a Monte Carlo simulation model that considered: (i) the starting stock price of $ 1.17 , (ii) certain key event dates such as expected capital financings, if any, (iii) an expected re-levered volatility of 93.0 percent, (iv) an estimated risk-free interest rate of 1.65 percent, (v) an estimated contractual term of approximately 5.5 years, and (vi) a zero percent dividend rate. As of June 30, 2022 , the fair value of the Senior Secured Promissory Note Warrants in the amount of approximately $ 45,000 was determined using a Black-Scholes valuation model that used the following assumptions: (i) a stock price of $ 0.41 , (ii) an exercise price per share of $ 3.88 , (iii) an estimated risk-free interest rate of approximately 3.00 percent, (iv) an estimated contractual term of 4.1 years, (v) volatility of 74.6 %, and (vi) a zero percent dividend rate. As of June 30, 2022 , the fair value of the January 2022 Warrants in the amount of $ 0.3 million was determined using a Monte Carlo simulation model that used the following assumptions: (i) a starting stock price of $ 0.40 , (ii) an expected re-levered volatility of 90.7 percent; (iii) an estimated risk-free rate of 3.01 percent, (iv) estimated contractual terms of approximately 5.08 years, and (v) a zero percent dividend rate. As of June 30, 2022 , the fair value of the July 2021 Warrants in the amount of $ 0.1 million was determined using a Monte Carlo simulation model that considered: (i) a starting stock price of $ 0.40 , (ii) an expected re-levered volatility of 93.8 percent; (iv) an estimated risk-free rate of 3.01 percent, (v) estimated contractual terms of approximately 4.56 years, and (vi) a zero percent dividend rate. The following table summarizes the activity of the Company’s Level 3 warrant liabilities during the three and six months ended June 30, 2022 and 2021 (in thousands): Three Months Ended June 30, Six Months Ended June 30, Warrant Liabilities 2022 2021 2022 2021 Fair value at beginning of period $ 1,694 $ 3,620 $ 2,651 $ 1,830 Initial fair value at the original issuance date — 21,914 1,110 23,746 Equity classified warrant put feature activated — 51 — 51 Change in fair value during the period ( 1,225 ) ( 5,133 ) ( 2,018 ) ( 5,175 ) Fair value of warrants exercised — — ( 1,274 ) — Seneca liability classified warrants assumed — 200 — 200 Expiration of equity classified warrant put feature — ( 27 ) — ( 27 ) Settlement of liability-classified warrants — ( 99 ) — ( 99 ) Fair value at end of period $ 469 $ 20,526 $ 469 $ 20,526 At December 31, 2020, Seneca had certain common stock purchase warrants that were originally issued in connection with May 2016 and August 2017 offerings that are accounted for as liabilities whose fair value was determined using Level 3 inputs. The May 2016 warrants expired in the second quarter of 2021. As a result of the Merger, the put right was activated on the August 2017 offering warrants and these warrants were valued at their put right value using a Black-Scholes option pricing model. The Company settled the put feature for 7,813 of these warrants during the quarter ended June 30, 2021. The put right became inactive in July 2021 and the remaining warrants were valued using a Black-Scholes option pricing model. The gains resulting from the changes in the fair value of the liability classified warrants are classified as a gain on change in fair value of warrant liability in the accompanying condensed consolidated statements of operations. In connection with the May 2022 Registered Direct Offering (see Note 5, Stockholders' Equity), the Company issued warrants to purchase up to 3,646,690 shares of its common stock and warrants to purchase up to 218,801 shares of the Company's common stock that were issued to the placement agent . All of these warrants were classified as equity as of the date of issuance of May 10, 2022.

Note 5 - Stockholders' Equity

Note 5 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Disclosure Text Block [Abstract]
Stockholders' Equity	. Stockholders’ Equity Classes of Stock As of June 30, 2022 and December 31, 2021 , the Company was authorized to issue 300,000,000 shares of $ 0.01 par value common stock and 7,000,000 shares of $ 0.01 par value preferred stock of which 200,000 shares have been designated as Series A 4.5% Convertible Preferred Stock ("Series A Convertible Preferred Stock"). Each share of common stock shall entitle the holder thereof to one (1) vote on each matter submitted to a vote at a meeting of stockholders. As of June 30, 2022 , the Company's Series A Convertible Preferred Stock issued in the amount of 200,000 is convertible into 6,479 shares of common stock. Prior to the completion of the Merger, LBS was authorized to issue 6,797,500 shares of $ 0.01 par value common stock and 33,594,625 shares of $ 0.001 par value Series C Convertible Preferred Stock. In connection with the Merger, the issued and outstanding Series C Convertible Preferred Stock shares in the amount of 11,674,131 were converted to 317,420 shares of the Company's common stock. May 2022 Registered Direct Offering On May 6, 2022, the Company entered into securities purchase agreements with certain investors pursuant to which it agreed to sell and issue, in a registered direct offering (the “May 2022 Registered Direct Offering”), an aggregate of 3,646,690 shares of its common stock, par value $ 0.01 per share, at a purchase price per share of $ 0.55 and, in a concurrent private placement, also agreed to sell and issue to such purchasers warrants (the “May 2022 Purchase Warrants”) to purchase up to 3,646,690 shares of common stock at an exercise price of $ 0.7105 per share. In connection with the May 2022 Registered Direct Offering and concurrent private placement transaction, the Company engaged a placement agent. The Company issued placement agent warrants (“May 2022 Placement Agent Warrants”) to purchase an aggregate of 218,801 shares of its common stock. The May 2022 Placement Agent Warrants have an exercise price of $ 0.7105 per share. The May 2022 Placement Agent Warrants and the May 2022 Purchase Warrants are referred to collectively as the May 2022 Warrants. The aggregate net proceeds from the May 2022 Registered Direct Offering of $ 1.4 million consisted of aggregate consideration of $ 2.0 million less equity issuance costs of approximately $ 0.6 million. The fair value of the May 2022 Placement Agent Warrants was recognized as an equity issuance cost. The shares of common stock (but not the warrants or the shares of common stock underlying such warrants) offered in the Registered Offering were offered and sold by the Company pursuant to a "shelf" registration statement on Form S-3, including a base prospectus, previously filed with and declared effective by the SEC on April 26, 2022. The May 2022 Warrants and shares of common stock underlying such warrants were later registered for resale on a separate registration statement on Form S-1. August 2022 Public Offering On August 12, 2022, the Company entered into an underwriting agreement pursuant to which the Company agreed to issue and sell, in a registered public offering (the “August 2022 Public Offering”), (i) 42,160,000 shares of common stock, (ii) 1,460 shares of Series B convertible preferred stock, (iii) 48,000,000 Series 1 Warrants with an exercise price of $ 0.25 per share and a term of one year following the issuance date, and (iv) 48,000,000 Series 2 Warrants with an exercise price of $ 0.25 per share and a term of five years following the issuance date. The price per share of common stock, Series 1 Warrant and Series 2 Warrant is $ 0.25 . The price per share of Series B convertible preferred stock, Series 1 Warrant to purchase 4,000 shares of common stock and Series 2 Warrant to purchase 4,000 shares of common stock is $ 1,000 . The warrants will be exercisable beginning on the date of stockholder approval of the exercisability of the warrants. The pricing of the August 2022 Public Offering is for gross proceeds of $ 12.0 million and net proceeds of approximately $ 10.5 million after deducting estimated equity issuance costs of approximately $ 1.5 million. The closing of the August 2022 Public Offering is subject to the satisfaction or waiver of customary closing conditions.

Note 6 - Common Stock Warrants

Note 6 - Common Stock Warrants	6 Months Ended
	Jun. 30, 2022
Disclosure Text Block [Abstract]
Common Stock Warrants	6. Common Stock Warrants From time to time, the Company issues warrants to its investors, creditors and various other individuals. The Company’s outstanding common stock warrants that are classified as equity warrants are included as a component of stockholder’s equity at the date of grant at the relative fair value at that grant date. Common stock warrants accounted for as liabilities are included in non-current liabilities. The warrants have an exercise price ranging from $ 0.55 to $ 694.80 per share and generally expire between five and ten years after the date of issuance. The Company had common stock warrants outstanding of 9,213,008 and 7,181,741 , at June 30, 2022 and December 31, 2021 , respectively. January 2022 Waiver Agreement On January 31, 2022, the Company and the Investor entered into the January 2022 Waiver Agreement (See Note 4, Fair Value Measurements). In addition to irrevocably waiving any adjustment to the exercise price of the Senior Secured Promissory Note Warrants and the May 2021 Warrants held by the Investor from and after the Effective Date for the Company's issuances of equity or equity-linked securities at a price below the exercise price of the warrants, the January 2022 Waiver Agreement also includes agreement by the parties to, among other things, (i) restrict the Investor's ability to sell the Company's securities through a "leak out" provision whereby sales are restricted by applying a volume limitation, (ii) shorten the notice period for the Investor’s participation rights related to certain future securities offerings, (iii) restrict the Company’s ability to conduct a primary offering of its securities for a specified period of time, and (iv) provide registration rights for the shares underlying the January 2022 Warrant. As consideration for the foregoing, pursuant to the January 2022 Waiver Agreement, the Company issued the Investor the January 2022 Warrant. The January 2022 Warrant is exercisable beginning six months following the Effective Date. The exercise price for the January 2022 Warrant is $ 1.10 (the closing price of the Company’s common stock on January 28, 2022), subject to customary adjustments for stock splits, stock dividends, stock combinations, reclassifications and similar transactions. May 2021 Warrant Exercises In the three months ended March 31, 2022, the Investor exchanged the remaining 3,994,302 May 2021 warrants into shares of the Company’s common stock in cashless exercises. Following these exercises, the May 2021 Warrants were fully exercised. As of June 30, 2022, there are no May 2021 Warrants outstanding. May 2022 Warrants In connection with the May 2022 Registered Direct Offering (see Note 5, Stockholders' Equity), the Company issued the May 2022 Purchase Warrants. The May 2022 Purchase Warrants are not exercisable until six months following the date of issuance and expire five and a half years from the date of issuance. The May 2022 Purchase Warrants were classified as equity. Concurrently, the Company issued the May 2022 Placement Agent Warrants. The May 2022 Placement Agent Warrants are not exercisable until six months following the date of issuance and expire five years from the date of issuance. The following table summarizes warrant acti vity for the six months ended June 30, 2022: Number of Weighted Weighted Warrants outstanding, December 31, 2021 7,181,741 $ 5.96 4.45 Granted 6,115,491 $ 0.85 5.24 Exercised ( 3,994,302 ) $ 3.88 4.11 Forfeited, expired or cancelled ( 89,922 ) $ 80.72 — Warrants outstanding, June 30, 2022 9,213,008 $ 2.74 4.79

Note 7 - Equity Incentive Plans

Note 7 - Equity Incentive Plans	6 Months Ended
	Jun. 30, 2022
Disclosure Text Block [Abstract]
Equity Incentive Plans	7. Equity Incentive Plans In 2013, LBS adopted the 2013 Employee, Director, and Consultant Equity Incentive Plan, (as amended and restated, the “2013 Plan”). Upon the closing of the Merger, each outstanding, unexercised and unexpired LBS option under the 2013 Plan, whether vested or unvested, was assumed by the Company and converted into Palisade options and became exercisable by the holder of such option in accordance with its terms, with (i) the number of shares of common stock subject to each option multiplied by the Exchange Ratio and (ii) the per share exercise price upon the exercise of each option divided by the Exchange Ratio. In connection with the closing of the Merger, no further awards will be made under the 2013 Plan. In April 2021, in connection with the closing of the Merger, the Company’s stockholders approved the Palisade Bio, Inc. 2021 Equity Incentive Plan (the “2021 EIP Plan”). The maximum number of shares of the Company’s common stock available for issuance under the 2021 EIP Plan will not exceed 1,502,583 shares. In addition, such aggregate number of shares of the Company's common stock available for issuance will automatically increase on January 1 of each year for a period of ten years commencing on January 1, 2022 and ending on (and including) January 1, 2031, in an amount equal to 4 % of the total number of shares of the Company's common stock outstanding on December 31st of the preceding year; provided, however, that the board of directors may act prior to January 1st of a given year to provide that the increase for such year will be a lesser number of shares of common stock. As of June 30, 2022 , there were 602,414 shares of the Company's common stock available for issuance under the 2021 EIP Plan. Also in April 2021, the Company stockholders approved the Palisade Bio, Inc. 2021 Employee Stock Purchase Plan (the "2021 ESPP"). The 2021 ESPP was adopted in order to provide eligible employees of the Company an opportunity to purchase shares of the Company's common stock. The maximum number of shares of the Company’s common stock available for issuance under the 2021 ESPP will not exceed 693,500 shares. In addition, such aggregate number of shares of the Company's common stock available for issuance will automatically increase on January 1 of each year for a period of ten years commencing on January 1, 2022 and ending on (and including) January 1, 2031, in an amount equal to 1 % of the total number of shares of the Company's common stock outstanding on December 31st of the preceding year; provided, however, that the board of directors may act prior to January 1st of a given year to provide that the increase for such year will be a lesser number of shares of common stock. As of June 30, 2022 , there have been no shares issued under the ESPP. In November 2021, the Company's compensation committee of the board of directors adopted the Palisade Bio, Inc. 2021 Inducement Award Plan (the "2021 Inducement Plan"). The 2021 Inducement Plan was adopted in order to grant share-based awards to individuals not previously employed by the Company, as an inducement to join the Company. Subject to certain changes in the capitalization of the Company, as provided in the 2021 Inducement Plan document, the aggregate number of shares of the Company's common stock that may be issued under the 2021 Inducement Plan will not exceed 750,000 shares of common stock. As of June 30, 2022 , there are 360,000 shares of the Company's common stock available for issuance under the 2021 Inducement Plan. Stock Options The Company believes that stock options align the interests of its employees, consultants and directors with the interests of its stockholders. Stock option awards are generally granted with an exercise price equal to the market price of Company’s stock at the date the grants are awarded, a term as determined by the Company's board of directors but generally not to exceed ten-years, and generally vest in equal proportions each quarter over three years. Vesting would be accelerated in the event of retirement, disability, or death of a participant, or change in control of the Company, as defined in the individual stock option agreements. Stock awards are valued as of the measurement date, which is the grant date, and are generally amortized on a straight-line basis over the requisite vesting period for all awards. The Company's plans allow for the issuance of both incentive stock options and non-statutory stock options. The fair value of options granted in the six months ended June 30, 2022 and June 30, 2021 is estimated as of the grant date using the Black-Scholes option pricing model using the assumptions in the following table: Six Months Ended June 30, 2022 2021 Weighted-average exercise price per share $ 0.89 $ 17.72 Weighted-average expected term (years) 5.81 5.00 Weighted-average risk-free interest rate 2.17 % 0.88 % Weighted-average expected dividend yield — — Weighted-average volatility 73.70 % 76.05 % Risk-free interest rate. The Company bases the risk-free interest rate assumption on observed interest rates appropriate for the expected term of the stock option grants. Expected dividend yield. The Company bases the expected dividend yield assumption on the fact that it has never paid cash dividends and has no present intention to pay cash dividends. Expected volatility. Due to the Company’s limited operating history and lack of company-specific historical or implied volatility, the expected volatility assumption is based on historical volatilities of a peer group of similar companies whose share prices are publicly available. The peer group was developed based on companies in the biotechnology industry. Expected term. The expected term represents the period of time that options are expected to be outstanding. As the Company does not have sufficient historical exercise behavior, it determines the expected life assumption using the simplified method, which is an average of the contractual term of the option and its vesting period. The following table summarizes stock option activity and related information under the 2013 Plan, the 2021 EIP Plan and the 2021 Inducement Plan for the six months ended June 30, 2022 : Number of Weighted Weighted Aggregate Outstanding at December 31, 2021 1,956,855 $ 7.32 8.12 $ — Granted 699,600 0.89 9.69 — Exercised — — — — Forfeited, expired or cancelled — — — — Outstanding at June 30, 2022 2,656,455 5.63 8.36 — Vested and expected to vest at June 30, 2022 2,656,455 5.63 8.36 — Exercisable at June 30, 2022 1,145,598 $ 10.78 6.83 $ — The weighted-average grant date fair value of options granted during the six months ended June 30, 2022 was $ 0.58 per share. The fair value of the options vested during six months ended June 30, 2022 was approximately $ 0.7 million. Share-Based Compensation Expense The allocation of stock-based compensation for all stock awards is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Research and development expense $ 59 $ 49 $ 111 $ 323 General and administrative 277 446 583 741 Total $ 336 $ 495 $ 694 $ 1,064 As of June 30, 2022 , the unrecognized compensation cost related to outstanding options was $ 1.6 million which was expected to be recognized over a weighted-average period of approximately 2.09 years. Officer Settlement Agreements The Company’s former Chief Development Officer was terminated in February 2021. As part of the separation package, the Company’s board of directors agreed to (i) accelerate vesting by four months for the former employee’s outstanding options and (ii) allow up to seven years from the termination date for the former employee to exercise all vested options. The Company concluded the actions taken by the Company resulted in modification accounting for the stock options. The Company determined the incremental fair value of the modified stock options was $ 225,000 , which was expensed to research and development expenses in the condensed consolidated statements of operations during the three months ended March 31, 2021.

Note 8 -Collaborations and Lice

Note 8 -Collaborations and License Agreements	6 Months Ended
	Jun. 30, 2022
Disclosure Text Block [Abstract]
Collaborations and License Agreements	8. Collaborations and License Agreements Co-Development and Distribution Agreement with Newsoara LBS has entered into a co-development and distribution agreement with Newsoara Biopharma Co., Ltd. (“Newsoara”), a joint venture established with Biolead Medical Technology Limited, as amended, (the “Co-Development Agreement”). Pursuant to the Co-Development Agreement (and subsequent assignment agreement), LBS granted or licensed Newsoara an exclusive right under certain patents to develop, use, sell, offer to sell, import, and otherwise commercialize licensed products (the “Licensed Products”) for any and all indications in the People’s Republic of China, including the regions of Hong Kong and Macao, but excluding Taiwan (the “Territory”). The Licensed Products only include the Company's lead drug candidate, LB1148. The right includes the right to grant sublicenses to third parties, subject to LBS’ written consent, provided that both parties agreed that Newsoara would be permitted to use a certain partner for development purposes. The Co-Development Agreement obligates Newsoara to initially use LBS as the exclusive supplier for all of Newsoara’s requirements for Licensed Products in the Territory. During the term of the Co-Development Agreement, Newsoara may request to manufacture the Licensed Product in the Territory, subject to satisfying certain conditions to LBS' reasonable satisfaction. LBS is obligated to approve Newsoara manufacturing rights without undue refusal or delay. In consideration of the rights granted to Newsoara under the Co-Development Agreement, Newsoara paid LBS a one-time upfront fee of $ 1.0 million. In addition, Newsoara is obligated to make (i) payments up to $ 6.75 million in the aggregate upon achievement of certain regulatory and commercial milestones, (ii) payments in the low six-digit range per licensed product upon achievement of a regulatory milestone, and (iii) tiered royalty payments ranging from the mid-single-digit to low-double-digit percentage range on annual net sales of Licensed Products, subject to adjustment to the royalty percentage in certain events, including a change of control, the expiration of certain patents rights, and royalties paid by Newsoara third parties. To date, Newsoara has met all of its payment obligations under the Co-Development Agreement. For the three and six months ended June 30, 2022 and the three and six months ended June 30, 2021 , there were no milestone payments earned from Newsoara under the Co-Development Agreement. The Co-Development Agreement will expire upon the later of the expiration date of the last valid claim of any licensed patent covering the Licensed Products in the Territory. In addition, the Co-Development Agreement can be terminated (i) by either party for the other party’s material breach that remains uncured for a specified time period after written notice or for events related to the other party’s insolvency, (ii) by LBS if Newsoara challenges or attempts to interfere with any licensed patent rights and, (iii) by Newsoara for any reason upon specified prior written notice. License Agreements with the Regents of the University of California The Company has entered into three license agreements, as amended, with the Regents of the University of California (“Regents”) for exclusive commercial rights to certain patents, technology and know-how. The licensed assets are related to the Company’s products and assays under development. Along with the one-time license issue fees paid, the Regents are entitled to annual license maintenance fees in the mid-four digit dollar range per license until such time that the Company is commercially selling a licensed product. In addition, the Company is obligated to make payments under each of the respective licenses upon the achievement of certain development, regulatory, and commercial milestones, as well as tiered and minimum annual sales royalties. In conjunction with the Co-Development Agreement with Newsoara, the Company is obligated to pay the Regents a portion of the sublicense income equal to 30 percent of one-third of the upfront payment and milestone payments received. As of June 30, 2022 and December 31, 2021 sublicensing payables of approximately $ 58,000 and $ 81,000 , respectively, were included in accounts payable.

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	9. Commitments and Contingencies Corporate Office Lease On May 12, 2022, the Company entered into a new, non-cancelable facility operating lease (the "Corporate Office Lease") of office space for its corporate headquarters, replacing its existing corporate headquarters lease that expired on July 31, 2022. The Corporate Office Lease is for 2,747 square feet of an office building in Carlsbad, California. The initial contractual term is for 39-months commencing on June 1, 2022 and expiring on August 31, 2025. The Company has the option to renew the Corporate Office Lease for an additional 36-month period at the prevailing market rent upon completion of the initial lease term. The Company has determined it is not reasonably certain that it will exercise this renewal option. Commencing on June 1, 2022, the Company is subject to contractual monthly lease payments of $ 10,850 , plus certain utilities, for the first 12 months with 3 percent escalations at the first, second and third lease commencement anniversaries. The Corporate Office Lease is s ubject to conditional abatement of fifty percent ( 50 %) of such base rent during the second, third and fourth full calendar months of the initial lease term, as set forth in the lease agreement, as well as a $ 28,000 tenant improvement allowance. The Corporate Office Lease is also subject to additional variable charges for common area maintenance, insurance, taxes and other operating costs. This additional variable rent expense is not estimable at lease inception. Therefore, it is excluded from the Company’s straight-line expense calculation at lease inception and is expensed as incurred. In conjunction with the commencement of the Corporate Office Lease on June 1, 2022, the Company recognized an operating right-of-use asset in the amount of $ 355,000 and a current and noncurrent operating lease liability of $ 83,000 and $ 272,000 , respectively, calculated using a discount rate of 10.75 %. As of June 30, 2022 , the total remaining future minimum lease payments associated with the Corporate Office Lease of approximately $ 430,000 , less imputed interest of $ 66,000 , will be paid over the remaining lease term of approximately 3.2 years. The Company recognized operating lease expense associated with its Corporate Office Lease and its predecessor corporate headquarters lease of $ 59,000 and $ 108,000 in the three and six months ended June 30, 2022 , respectively. The Company recognized operating lease expense associated with its previous corporate headquarters lease of $ 49,000 and $ 98,000 in the three and six months ended June 30, 2021, respectively. Maturities of the Company's operating lease liabilities as of June 30, 2022 are as follows: Year ending December 31, 2022 (remaining) $ 76 2023 133 2024 138 2025 83 Total operating lease payments 430 Less: imputed interest ( 66 ) Total operating lease obligations $ 364 Insurance Financing Arrangements Consistent with past practice, on May 9, 2022 and May 24, 2022, the Company entered into agreements to finance certain insurance policies which renewed in April 2022 and May 2022. The financing arrangements entered into on May 9, 2022 and May 24, 2022 have stated interest rate of 3.82 % and 6.92 %, respectively, and are payable over a 9-month period and 10-month period, respectively, with the first payment commencing May 27, 2022. The insurance financing arrangements are secured by the associated insurance policies. As of June 30, 2022 and December 31, 2021 , the aggregate remaining balance under the Company's insurance financing arrangements was $ 0.6 million and $ 0.1 million, respectively. Legal Proceedings From time to time, the Company may be involved in various lawsuits, legal proceedings, or claims that arise in the ordinary course of business. Management believes there are no claims or actions pending against the Company through June 30, 2022 , which will have, individually or in the aggregate, a material adverse effect on its business, liquidity, financial position, or results of operations. Litigation, however, is subject to inherent uncertainties, and an adverse result in such matters may arise from time to time that may harm the Company’s business. Indemnification In accordance with the Company’s amended and restated memorandum and articles of association, the Company has indemnification obligations to its officers and directors for certain events or occurrences, subject to certain limits, while they are serving in such capacity. There have been no claims to date, and the Company has a directors and officers liability insurance policy that may enable it to recover a portion of any amounts paid for future claims.

Note 10 - Related Party Transac

Note 10 - Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	10. Related Party Transactions Yuma Regional Medical Center On August 19, 2021, the Company issued to Yuma Regional Medical Center ("Yuma"), a related party, a warrant to purchase up to 377,474 shares of Common Stock at a price of $ 3.45 per share, subject to certain adjustments (the "August 2021 Warrants"). The August 2021 Warrants, which have been registered for resale, are immediately exercisable and have an expiration date of August 26, 2026 . Director stipends Unpaid cash stipends owed to the Company's directors for their annual board service are recorded on the Company’s condensed consolidated balance sheets within accrued liabilities. These liabilities were $ 111,250 and $ 110,000 as of June 30, 2022 , and December 31, 2021 , respectively.

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation In management’s opinion, the accompanying interim condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly the Company's financial position, results of operations and cash flows. The interim results of operations are not necessarily indicative of the results that may occur for the full year. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission (“SEC”). The Company believes that the disclosures provided herein are adequate to make the information presented not misleading when these condensed consolidated financial statements are read in conjunction with the financial statements and notes included in the Company’s financial statements filed on the Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on March 17, 2022. The accompanying condensed consolidated financial statements prior to the closing of the Merger are representative of LBS’s operations as LBS was determined to be the accounting acquirer for financial reporting purpose. The condensed consolidated financial statements subsequent to the closing of the Merger include the accounts of the Company and its wholly owned subsidiaries, Leading Biosciences, Inc. and Suzhou Neuralstem Biopharmaceutical Co., Ltd. All the entities are consolidated in the Company's condensed consolidated financial statements and all intercompany activity and transactions, if any, have been eliminated .
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates, judgments, and assumptions that impact the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the balance sheet, and the reported amounts of expenses during the reporting period. The most significant estimates in the Company’s condensed consolidated financial statements relate to clinical trial accruals and the valuation of derivative liabilities and stock-based compensation instruments. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may materially differ from these estimates and assumptions.
Segment Information	Segment Information Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, the Chief Executive Officer, in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business as one operating segment which consists of research and development activities.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents represent cash available in readily available checking and money market accounts. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
Restricted Cash	Restricted Cash As of June 30, 2022 and December 31, 2021, the Company held restricted cash of $ 26,000 , in a separate restricted bank account as collateral for the Company’s corporate credit card program. The Company has classified these deposits as long-term restricted cash on its condensed consolidated balance sheets .
Deferred Equity Issuance Costs	Deferred Equity Issuance Costs Deferred equity issuance costs consist of the legal, accounting and other direct and incremental costs incurred by the Company related to its equity offerings. As of June 30, 2022, deferred equity issuance cos ts of $ 263,000 w ere included in prepaid and other assets in the condensed consolidated balance sheet. There were no deferred equity issuance costs as of December 31, 2021. These costs will be netted against additional paid-in capital as a cost of the future equity issuances to which they relate.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentration of credit risk, consist primarily of cash and cash equivalents. The Company maintains deposits in federally insured financial institutions and in money market accounts, and at times balances may exceed federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held nor has the Company experienced any losses in these accounts.
Convertible Preferred Stock	Convertible Preferred Stock The Company’s Series C Convertible Preferred Stock ("Series C Convertible Preferred Stock") has been classified as temporary equity, in accordance with authoritative guidance for the classification and measurement of potentially redeemable securities as the stock is conditionally redeemable upon certain change in control events outside of the Company’s control, including the liquidation, sale or transfer of control of the Company. Upon such change in control events the holders of the Series C Convertible Preferred Stock can cause its redemption. In connection with the Merger, the Series C Convertible Preferred Stock converted to common stock.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments consist principally of cash and cash equivalents, restricted cash, accounts payable, accrued liabilities, and derivative liabilities. The carrying amounts of financial instruments such as cash equivalents, restricted cash, accounts payable, and accrued liabilities approximate their related fair values due to the short-term nature of these instruments. The carrying value of the Company’s debt approximates its fair value due to the market rate of interest, which is based on level 2 inputs. The Company’s derivative financial instruments are carried at fair value based on level 3 inputs as defined below. The Company follows Accounting Standards Codification ("ASC") 820, Fair Value Measurements and Disclosures which, among other things, defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a three-tier fair value hierarchy has been established, which prioritizes the inputs used in measuring fair value as follows: (1) Level 1: observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities; (2) Level 2: inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (3) Level 3: unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions, which reflect those that a market participant would use. Further information on the fair value of financial instruments can be found at Note 4, Fair Value Measurements.
Derivative Financial Instruments	Derivative Financial Instruments The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates its financial instruments, including warrants, to determine if such instruments are derivatives, or contain features that qualify as embedded derivatives, or otherwise require liability classification under U.S. GAAP. The Company values its derivatives using the Black-Scholes option-pricing model or other acceptable valuation models, including Monte-Carlo simulations. Derivative instruments are valued at inception, upon events such as an exercise of the underlying financial instrument, and at subsequent reporting periods. The classification of derivative instruments, including whether such instruments should be recorded as liabilities, is re-assessed at the end of each reporting period. The Company reviews the terms of debt instruments, equity instruments, and other financing arrangements to determine whether there are embedded derivative features, including embedded conversion options that are required to be bifurcated and accounted for separately as a derivative financial instrument. Additionally, in connection with the issuance of financing instruments, the Company may issue freestanding options and warrants, including options or warrants to non-employees in exchange for consulting or other services performed. The Company accounts for its common stock warrants in accordance with ASC 480, Distinguishing Liabilities from Equity ("ASC 480") and ASC 815, Derivatives and Hedging (“ASC 815”). Based upon the provisions of ASC 480 and ASC 815, the Company accounts for common stock warrants as liabilities if the warrant requires net cash settlement or gives the holder the option of net cash settlement, or it fails the equity classification criteria. The Company accounts for common stock warrants as equity if the contract requires physical settlement or net physical settlement or if the Company has the option of physical settlement or net physical settlement and the warrants meet the requirements to be classified as equity. Common stock warrants classified as liabilities are initially recorded at fair value on the grant date and remeasured at fair value each balance sheet date with the offset adjustments recorded in change in fair value of warrant liability within the condensed consolidated statements of operations. If the terms of a common stock warrant previously classified as a liability are amended and pursuant to such amendment meet the requirements to be classified as equity, the common stock warrants are reclassified to equity at the fair value on the date of the amendment and are not subsequently remeasured. Common stock warrants classified as equity are recorded on a relative fair value basis when they are issued with other equity classified financial instruments.
Research and Development Costs	Research and Development Costs Research and development expenses consist primarily of salaries and other personnel related expenses including stock-based compensation costs, preclinical costs, clinical trial costs, costs related to acquiring and manufacturing clinical trial materials, and contract services. All research and development costs are expensed as incurred .
Clinical Trial Expenses	Clinical Trial Expenses Expenses related to clinical studies are based on estimates of the services received and efforts expended pursuant to the Company’s contract arrangements. The financial terms of these agreements are subject to negotiation, vary from contract to contract, and may result in uneven payment flows. There may be instances in which payments made to the Company’s service providers will temporarily exceed the level of services provided and result in a prepayment of the clinical expense. Payments under some of these contracts depend on factors such as the successful enrollment of patients, site initiation and the completion of clinical milestones. The Company makes estimates of its accrued expenses as of each balance sheet date in its consolidated financial statements based on facts and circumstances known at that time. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from its estimate, the Company adjusts the accrual or prepaid expense balance accordingly. As of June 30, 2022 and December 31, 2021, the Company has accrued for $ 132,000 and $ 158,000 , respectively, in clinical trial expenses for which services have been provided but payment has not yet occurred. Clinical trial expenses are included in research and development expenses in the condensed consolidated statements of operations .
Patent Costs	Patent Costs Costs related to filing and pursuing patent applications (including direct application fees, and the legal and consulting expenses related to making such applications) are expensed as incurred, as recoverability of such expenditures is uncertain. These costs are included in general and administrative expenses in the condensed consolidated statements of operations .
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs incurred to obtain debt financing are deferred and are amortized over the term of the debt using the effective interest method. Debt issuance costs are recorded as a reduction to the carrying value of the debt and are amortized to interest expense in the condensed consolidated statements of operations.
Income Taxes	Income Taxes The Company follows the ASC 740, Income Taxes, or ASC Topic 740 (“ASC 740”), in reporting deferred income taxes. ASC 740 requires a company to recognize deferred tax assets and liabilities for expected future income tax consequences of events that have been recognized in the Company’s condensed consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities using enacted tax rates in the years in which the temporary differences are expected to reverse. Valuation allowances are provided if, based on the weight of available evidence, it is more likely than not that some of or all the deferred tax assets will not be realized. The Company accounts for uncertain tax positions pursuant to ASC 740, which prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. If the tax position meets this threshold, the benefit to be recognized is measured as the tax benefit having the highest likelihood of being realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in the provision for income taxes.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense represents the cost of the estimated grant date fair value of employee and non-employee stock option grants recognized over the requisite service period of the awards, which is usually the vesting period, on a straight-line basis. The Company recognizes forfeitures as they occur as a reduction of expense. The Company estimates the fair value of employee and non-employee stock option grants using the Black-Scholes option pricing model .
Net Loss Per Common Share	Net Loss Per Common Share Basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Certain of the Company's outstanding warrants (See Note 6) contain non-forfeitable rights to dividends with the common stockholders, and therefore are considered to be participating securities. These warrants do not have a contractual obligation to fund the losses of the Company; therefore, the application of the two-class method is not required when the Company is in a net loss position but is required when the Company is in a net income position. When in a net income position, diluted earnings per share is computed using the more dilutive of the two-class method or the if-converted and treasury stock methods. As the Company was in a net loss position for all periods presented, basic and diluted loss per common share for the three and six months ended June 30, 2022 and 2021 were calculated under the if-converted and treasury stock methods. For the three and six months ended June 30, 2022, basic and diluted loss per common share were the same as all common stock equivalents were anti-dilutive for both periods. Certain of the Company's liability classified warrants were dilutive in the second quarter of 2021 resulting in a dilutive impact for the three and six months ended June 30, 2021. The following table presents the calculation of weighted average shares used to calculate basic and diluted loss per share (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Basic net loss per common share: Net loss attributable to common shares - basic $ ( 2,344 ) $ ( 31,746 ) $ ( 6,549 ) $ ( 35,776 ) Weighted average shares used in calculating basic loss per share 20,294,652 8,831,517 18,281,788 5,803,010 Basic net loss per common share $ ( 0.12 ) $ ( 3.59 ) $ ( 0.36 ) $ ( 6.17 ) Diluted net loss per common share: Net loss $ ( 2,344 ) $ ( 31,746 ) $ ( 6,549 ) $ ( 35,776 ) Change in fair value of warrants — ( 5,119 ) — ( 5,119 ) Net loss attributable to common shares - diluted $ ( 2,344 ) $ ( 36,865 ) $ ( 6,549 ) $ ( 40,895 ) Weighted-average shares outstanding 20,294,652 8,831,517 18,281,788 5,803,010 Effect of potentially dilutive securities — 152,681 — 76,341 Weighted average shares used in calculating diluted loss per share 20,294,652 8,984,198 18,281,788 5,879,351 Diluted net loss per common share $ ( 0.12 ) $ ( 4.10 ) $ ( 0.36 ) $ ( 6.96 ) The following potentially dilutive securities were excluded from the calculation of diluted net loss per share because their effects would be anti-dilutive: June 30, 2022 2021 Stock options 2,656,455 802,455 Warrants for common stock 9,213,008 851,168 Series A Convertible Preferred Stock 6,479 6,479 Restricted Stock Units Outstanding — 8,817 Total 11,875,942 1,668,919
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company’s comprehensive loss was the same as its reported net loss for all periods presented.
Recently Adopted Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2020, FASB issued Accounting Standards Update ("ASU") 2020-06 , Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) — Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity ("ASU- 2020-06"), which, among other things, provides guidance on how to account for contracts on an entity’s own equity. This ASU simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. Specifically, the ASU eliminated the need for the Company to assess whether a contract on the entity’s own equity (1) permits settlement in unregistered shares, (2) whether counterparty rights rank higher stockholder’s rights, and (3) whether collateral is required. In addition, the ASU requires incremental disclosure related to contracts on the entity’s own equity and clarifies the treatment of certain financial instruments accounted for under this ASU on earnings per share. This ASU may be applied on a full retrospective of modified retrospective basis. For smaller reporting companies, this ASU is effective for fiscal years beginning after December 15, 2023 , including interim periods within those fiscal years. Early adoption of the ASU is permitted for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company early adopted this standard on January 1, 2022 and determined that it had no impact on the accounting for its liability-classified warrants as of the date of adoption. Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13 , Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The ASU introduced a new credit loss methodology, the Current Expected Credit Losses (“CECL”) methodology, which requires earlier recognition of credit losses, while also providing additional transparency about credit risk. The CECL methodology utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans, held-to maturity debt securities, trade receivables and other receivables measured at amortized cost at the time the financial asset is originated or acquired. After the issuance of ASU 2016-13 , the FASB issued several additional ASUs to clarify implementation guidance, provide narrow-scope improvements and provide additional disclosure guidance. In November 2019, the FASB issued an amendment making this ASU effective for fiscal years beginning after December 15, 2022 for smaller reporting companies. The Company plans to adopt this standard in the first quarter of 2023 and does not expect the adoption will have a significant impact on its financial statements and related disclosures.

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Schedule of Weighted Average Number of Shares	The following table presents the calculation of weighted average shares used to calculate basic and diluted loss per share (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Basic net loss per common share: Net loss attributable to common shares - basic $ ( 2,344 ) $ ( 31,746 ) $ ( 6,549 ) $ ( 35,776 ) Weighted average shares used in calculating basic loss per share 20,294,652 8,831,517 18,281,788 5,803,010 Basic net loss per common share $ ( 0.12 ) $ ( 3.59 ) $ ( 0.36 ) $ ( 6.17 ) Diluted net loss per common share: Net loss $ ( 2,344 ) $ ( 31,746 ) $ ( 6,549 ) $ ( 35,776 ) Change in fair value of warrants — ( 5,119 ) — ( 5,119 ) Net loss attributable to common shares - diluted $ ( 2,344 ) $ ( 36,865 ) $ ( 6,549 ) $ ( 40,895 ) Weighted-average shares outstanding 20,294,652 8,831,517 18,281,788 5,803,010 Effect of potentially dilutive securities — 152,681 — 76,341 Weighted average shares used in calculating diluted loss per share 20,294,652 8,984,198 18,281,788 5,879,351 Diluted net loss per common share $ ( 0.12 ) $ ( 4.10 ) $ ( 0.36 ) $ ( 6.96 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive securities were excluded from the calculation of diluted net loss per share because their effects would be anti-dilutive: June 30, 2022 2021 Stock options 2,656,455 802,455 Warrants for common stock 9,213,008 851,168 Series A Convertible Preferred Stock 6,479 6,479 Restricted Stock Units Outstanding — 8,817 Total 11,875,942 1,668,919

Note 3 - Balance Sheet Details

Note 3 - Balance Sheet Details (Tables)	6 Months Ended
	Jun. 30, 2022
Table Text Block [Abstract]
Schedule Of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): June 30, December 31, 2022 2021 Accrued accounts payable $ 780 $ 195 Accrued clinical trial costs 132 158 Accrued director stipends 111 110 Accrued other 11 — $ 1,034 $ 463
Summary of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): June 30, December 31, 2022 2021 Prepaid insurance $ 1,818 $ 1,408 Other receivables 20 150 Prepaid subscriptions and fees 212 215 Prepaid software licenses 101 78 Deposits 21 26 Deferred equity issuance costs 263 — Prepaid other — 2 $ 2,435 $ 1,879

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure Text Block [Abstract]
Schedule of fair value of options granted	Three Months Ended June 30, Six Months Ended June 30, Warrant Liabilities 2022 2021 2022 2021 Fair value at beginning of period $ 1,694 $ 3,620 $ 2,651 $ 1,830 Initial fair value at the original issuance date — 21,914 1,110 23,746 Equity classified warrant put feature activated — 51 — 51 Change in fair value during the period ( 1,225 ) ( 5,133 ) ( 2,018 ) ( 5,175 ) Fair value of warrants exercised — — ( 1,274 ) — Seneca liability classified warrants assumed — 200 — 200 Expiration of equity classified warrant put feature — ( 27 ) — ( 27 ) Settlement of liability-classified warrants — ( 99 ) — ( 99 ) Fair value at end of period $ 469 $ 20,526 $ 469 $ 20,526

Note 6 - Common Stock Warrants

Note 6 - Common Stock Warrants (Tables)	6 Months Ended
	Jun. 30, 2022
Table Text Block [Abstract]
Schedule of Stockholders' Equity Note, Warrants or Rights	The following table summarizes warrant acti vity for the six months ended June 30, 2022: Number of Weighted Weighted Warrants outstanding, December 31, 2021 7,181,741 $ 5.96 4.45 Granted 6,115,491 $ 0.85 5.24 Exercised ( 3,994,302 ) $ 3.88 4.11 Forfeited, expired or cancelled ( 89,922 ) $ 80.72 — Warrants outstanding, June 30, 2022 9,213,008 $ 2.74 4.79

Note 7 - Equity Incentive Pla_2

Note 7 - Equity Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Table Text Block [Abstract]
Schedule of Fair Value of Options Granted	The fair value of options granted in the six months ended June 30, 2022 and June 30, 2021 is estimated as of the grant date using the Black-Scholes option pricing model using the assumptions in the following table: Six Months Ended June 30, 2022 2021 Weighted-average exercise price per share $ 0.89 $ 17.72 Weighted-average expected term (years) 5.81 5.00 Weighted-average risk-free interest rate 2.17 % 0.88 % Weighted-average expected dividend yield — — Weighted-average volatility 73.70 % 76.05 %
Schedule of Summarized Stock Option Activity	The following table summarizes stock option activity and related information under the 2013 Plan, the 2021 EIP Plan and the 2021 Inducement Plan for the six months ended June 30, 2022 : Number of Weighted Weighted Aggregate Outstanding at December 31, 2021 1,956,855 $ 7.32 8.12 $ — Granted 699,600 0.89 9.69 — Exercised — — — — Forfeited, expired or cancelled — — — — Outstanding at June 30, 2022 2,656,455 5.63 8.36 — Vested and expected to vest at June 30, 2022 2,656,455 5.63 8.36 — Exercisable at June 30, 2022 1,145,598 $ 10.78 6.83 $ —
Schedule of Stock-based Compensation for all Stock Awards	The allocation of stock-based compensation for all stock awards is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Research and development expense $ 59 $ 49 $ 111 $ 323 General and administrative 277 446 583 741 Total $ 336 $ 495 $ 694 $ 1,064

Note 9 - Commitments and Cont_2

Note 9 - Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Maturities of the Company's operating lease liabilities	Maturities of the Company's operating lease liabilities as of June 30, 2022 are as follows: Year ending December 31, 2022 (remaining) $ 76 2023 133 2024 138 2025 83 Total operating lease payments 430 Less: imputed interest ( 66 ) Total operating lease obligations $ 364

Note 1 - Organization, Busine_2

Note 1 - Organization, Business and Financial Condition (Details) $ in Thousands	Apr. 27, 2021	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)
Retained earnings (Accumulated deficit), ending balance		$ 101,200
Cash and cash equivalents, at carrying value, ending balance		$ 4,980	$ 10,495	$ 12,653
Reverse Stock Split [Member]
Stockholders' equity note, stock split, conversion ratio	6
Merger Agreement with Leading Biosciences, Inc. [Member]
Merger agreement, exchange ratio	0.02719

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies (Details Textual)	6 Months Ended
	Jun. 30, 2022 USD ($) Segment	Dec. 31, 2021 USD ($)
Number of operating segments | Segment	1
Restricted cash	$ 26,000	$ 26,000
Deferred equity issuance costs	263,000,000	0
Accrued clinical trial costs	$ 132,000	$ 158,000

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies - Calculation of Weighted Average Shares Used to Calculate Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Basic net loss per common share:
Net loss attributable to common shares - basic	$ (2,344)	$ (31,746)	$ (6,549)	$ (35,776)
Weighted average shares used in calculating basic loss per share	20,294,652	8,831,517	18,281,788	5,803,010
Basic net loss per common share	$ (0.12)	$ (3.59)	$ (0.36)	$ (6.17)
Diluted net loss per common share:
Net loss	$ (2,344)	$ (31,746)	$ (6,549)	$ (35,776)
Change in fair value of warrants	0	(5,119)	0	(5,119)
Net loss attributable to common shares - diluted	$ (2,344)	$ (36,865)	$ (6,549)	$ (40,895)
Weighted-average shares outstanding	20,294,652	8,831,517	18,281,788	5,803,010
Effect of potentially dilutive securities	0	152,681	0	76,341
Weighted average shares used in calculating diluted loss per share	20,294,652	8,984,198	18,281,788	5,879,351
Diluted net loss per common share	$ (0.12)	$ (4.10)	$ (0.36)	$ (6.96)

Note 2 - Summary of Significa_6

Note 2 - Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Anti-dilutive securities (in shares)	11,875,942	1,668,919
Stock option [Member]
Anti-dilutive securities (in shares)	2,656,455	802,455
Warrant [Member]
Anti-dilutive securities (in shares)	9,213,008	851,168
Series A Convertible Preferred Stock [Member]
Anti-dilutive securities (in shares)	6,479	6,479
Restricted Stock Units [Member]
Anti-dilutive securities (in shares)	0	8,817

Note 3 - Balance Sheet Detail_2

Note 3 - Balance Sheet Details - Summary of Accrued Liabilities (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Disclosure Text Block [Abstract]
Accrued accounts payable	$ 780,000	$ 195,000
Accrued clinical trial costs	132,000	158,000
Accrued director stipends	111,000	110,000
Accrued other	11,000	0
Accrued Liabilities, Current, Total	$ 1,034,000	$ 463,000

Note 3 - Balance Sheet Detail_3

Note 3 - Balance Sheet Details - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Disclosure Text Block [Abstract]
Prepaid insurance	$ 1,818	$ 1,408
Other receivables	20	150
Prepaid subscriptions and fees	212	215
Prepaid software licenses	101	78
Deposits	21	26
Deferred equity issuance costs	263	0
Prepaid other	0	2
Prepaid expenses and other current assets	$ 2,435	$ 1,879

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements (Details)	1 Months Ended	3 Months Ended	6 Months Ended
	May 31, 2021 shares	Jun. 30, 2021 $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Mar. 31, 2022 shares	Jan. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Aug. 19, 2021 $ / shares shares	Jul. 21, 2021 USD ($) $ / shares shares	May 20, 2021 $ / shares shares	Dec. 16, 2020 shares
Warrant liability | $			$ 469,000			$ 2,651,000
Warrants and Rights Outstanding, Measurement Input | $								3,900,000
Warrants exercise price | $ / shares							$ 3.45
Warrants to purchase common stock | shares							377,474
Warrants exercised | shares			0
Warrants outstanding | shares			9,213,008			7,181,741
May 2022 Registered Direct Offering
Warrants to purchase shares of common stock | shares			3,646,690
May 2022 Registered Direct Offering to Placement Agent
Warrants to purchase shares of common stock | shares			218,801
Measurement Input, Price Volatility [Member] | Investor Warrants [Member]
Warrants and Rights Outstanding, Measurement Input | $			74.6
Measurement Input, Expected Term [Member] | Investor Warrants [Member]
Warrants and Rights Outstanding, Measurement Input			4.1
Measurement Input, Expected Dividend Rate [Member] | Investor Warrants [Member]
Warrants and Rights Outstanding, Measurement Input			0
Maximum [Member]
Warrants exercise price | $ / shares			$ 694.80
Senior Secured Promissory Note Warrants [Member] | Investor Warrants [Member]
Warrant liability | $			$ 45,000
Senior Secured Promissory Note Warrants [Member] | Measurement Input, Share Price [Member] | Investor Warrants [Member]
Warrants and Rights Outstanding, Measurement Input | $			0.41
Senior Secured Promissory Note Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | Investor Warrants [Member]
Warrants and Rights Outstanding, Measurement Input			3
Senior Secured Promissory Note Warrants [Member] | Measurement Input, Exercise Price [Member] | Investor Warrants [Member]
Warrants and Rights Outstanding, Measurement Input | $			3.88
Senior Secured Promissory Note Warrants [Member] | Altium Growth Fund, LP [Member]
Warrants to purchase shares of common stock | shares										858,892
The Equity Warrant [Member]
Warrant liability | $					$ 1,100,000
The Equity Warrant [Member] | Measurement Input, Share Price [Member]
Warrants and Rights Outstanding, Measurement Input | $					1.17
The Equity Warrant [Member] | Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input					93
The Equity Warrant [Member] | Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input					1.65
The Equity Warrant [Member] | Measurement Input, Expected Term [Member]
Warrants and Rights Outstanding, Measurement Input					5.5
The Equity Warrant [Member] | Altium Growth Fund, LP [Member]
Warrants exercise price | $ / shares									$ 4.70
Warrants to purchase shares of common stock | shares				3,994,302					4,995,893
May 2021 Warrants [Member]
Warrants exercised | shares	5,303,568
Warrants outstanding | shares			0
May 2021 Warrants [Member] | Altium Growth Fund, LP [Member]
Warrants exercise price | $ / shares		$ 3.88
Class of warrant or right, unissued | shares		5,303,568
July 2021 Warrants [Member]
Warrants exercise price | $ / shares								$ 3.63
July 2021 Warrants [Member] | Maximum [Member]
Warrants to purchase common stock | shares								1,100,000
January 2022 [Member]
Warrant liability | $			$ 300,000
January 2022 [Member] | Measurement Input, Share Price [Member]
Warrants and Rights Outstanding, Measurement Input | $			0.40
January 2022 [Member] | Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input			90.7
January 2022 [Member] | Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input			3.01
January 2022 [Member] | Measurement Input, Expected Term [Member]
Warrants and Rights Outstanding, Measurement Input			5.08
January 2022 [Member] | Measurement Input, Expected Dividend Rate [Member]
Warrants and Rights Outstanding, Measurement Input			0
January 2022 [Member] | Maximum [Member]
Warrants to purchase common stock | shares					2,250,000
July 2022 [Member]
Warrant liability | $			$ 100,000
July 2022 [Member] | Measurement Input, Share Price [Member]
Warrants and Rights Outstanding, Measurement Input | $			0.40
July 2022 [Member] | Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input | $			93.8
July 2022 [Member] | Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input			3.01
July 2022 [Member] | Measurement Input, Expected Term [Member]
Warrants and Rights Outstanding, Measurement Input			4.56
July 2022 [Member] | Measurement Input, Expected Dividend Rate [Member]
Warrants and Rights Outstanding, Measurement Input			0
Warrants Issued in Connection with May 2016 and August 2017 Offerings [Member]
Class of Warrant or Right, Put Feature Settled (in shares) | shares		7,813

Note 4 - Fair Value Measureme_4

Note 4 - Fair Value Measurements - Activity for Items Measured at Fair Value on a Recurring Basis (Details) - Stock Purchase Warrants [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Balance	$ 1,694	$ 3,620	$ 2,651	$ 1,830
Initial fair value at the original issuance date	0	21,914	1,110	23,746
Equity classified warrant put feature activated	0	51	0	51
Change in fair value during the period	(1,225)	(5,133)	(2,018)	(5,175)
Fair value of warrants exercised	0	0	(1,274)	0
Seneca liability classified warrants assumed	0	200	0	200
Expiration of equity classified warrant put feature	0	(27)	0	(27)
Settlement of liability - classified warrants	0	(99)	0	(99)
Balance	$ 469	$ 20,526	$ 469	$ 20,526

Note 5 - Stockholders' Equity (

Note 5 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands			6 Months Ended
	Aug. 12, 2022	May 06, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Aug. 19, 2021
Common Stock, Shares Authorized (in shares)			300,000,000		300,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)			$ 0.01		$ 0.01
Warrants exercise price						$ 3.45
Gross Proceeds			$ 1,775
Payment of equity issuance costs			$ 16	$ 0
May 2022 Registered Direct Offering
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.01
Offering shares (Per share)		3,646,690
Shares Issued, Price Per Share		$ 0.55
Warrants to purchase shares of common stock			3,646,690
Gross Proceeds		$ 1,400
Aggregate Consideration		2,000
Payment of equity issuance costs		$ 600
Stock Issued During Period, Shares, New Issues		3,646,690
May 2022 Purchase Warrants
Warrants to purchase shares of common stock		3,646,690
Warrants exercise price		$ 0.7105
May 2022 Placement Agent Warrants
Warrants to purchase shares of common stock		218,801
Warrants exercise price		$ 0.7105
August 2022 Public Offering | Subsequent Event [Member]
Offering shares (Per share)	42,160,000
Gross Proceeds	$ 12,000
Payment of equity issuance costs	1,500
Net Proceeds	$ 10,500
Stock Issued During Period, Shares, New Issues	42,160,000
August 2022 Public Offering | Warrant One [Member] | Subsequent Event [Member]
Warrants to purchase shares of common stock	48,000,000
Warrants exercise price	$ 0.25
Warrants term	1 year
August 2022 Public Offering | Warrant Two [Member] | Subsequent Event [Member]
Warrants to purchase shares of common stock	48,000,000
Warrants exercise price	$ 0.25
Warrants term	5 years
Common Stock [Member] | August 2022 Public Offering | Warrant Two [Member] | Subsequent Event [Member]
Warrants to purchase shares of common stock	1,000
Common Stock [Member] | August 2022 Public Offering | Warrant one and Warrant two [Member] | Subsequent Event [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.25
Series B Convertible Preferred Stock [Member] | August 2022 Public Offering | Subsequent Event [Member]
Preferred stock, shares issued (in shares)	1,460
Series B Convertible Preferred Stock [Member] | August 2022 Public Offering | Warrant One [Member] | Subsequent Event [Member]
Convertible Preferred Stock, Issuable Upon Conversion of All Shares (in shares)	4,000
Series B Convertible Preferred Stock [Member] | August 2022 Public Offering | Warrant Two [Member] | Subsequent Event [Member]
Convertible Preferred Stock, Issuable Upon Conversion of All Shares (in shares)	4,000
Series C Preferred Stock [Member]
Preferred stock, shares issued (in shares)				317,420
Series C convertible preferred stock, shares outstanding (in shares)				11,674,131
Series A 4.5% Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)					200,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)					$ 0.01
Series A 4.5% Convertible Preferred Stock [Member] | Private Placement [Member]
Convertible Preferred Stock, Issuable Upon Conversion of All Shares (in shares)			6,479
Series A Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)			7,000,000		7,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)			$ 0.01		$ 0.01
Preferred stock, shares issued (in shares)			200,000
LBS [Member]
Common Stock, Shares Authorized (in shares)				6,797,500
Common Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.01
Preferred Stock, Shares Authorized (in shares)				33,594,625
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001

Note 6 - Common Stock Warrant_2

Note 6 - Common Stock Warrants (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022	Jan. 31, 2022	Dec. 31, 2021	Aug. 19, 2021	May 20, 2021
Warrants exercise price					$ 3.45
Warrants and Rights Outstanding	$ 9,213,008,000			$ 7,181,741
Warrant Waiver Agreement Member
Warrants exercise price			$ 1.10
The Equity Warrant [Member] | Altium Growth Fund, LP [Member]
Warrants exercise price						$ 4.70
Conversion of warrant into common stock		3,994,302				4,995,893
Minimum [Member]
Warrants exercise price	$ 0.55
Warrants term	5 years
Maximum [Member]
Warrants exercise price	$ 694.80
Warrants term	10 years

Note 6 - Common Stock Warrant_3

Note 6 - Common Stock Warrants - Summary of Warrant Activity (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Warrants and Rights Note Disclosure [Abstract]
Warrants outstanding, balance (in shares)	7,181,741
Warrants outstanding, weighted average exercise price (in dollars per share)	$ 2.74	$ 5.96
Warrants outstanding, December 31, 2021	4 years 9 months 14 days	4 years 5 months 12 days
Class of warrant or right, issued during period (in shares)	6,115,491
Granted, weighted average exercise price (in dollars per share)	$ 0.85
Granted, weighted average remaining contractual life	5 years 2 months 26 days
Exercised (in shares)	(3,994,302)
Exercised, weighted average exercise price	$ 3.88
Exercised, weighted average remaining contractual life	4 years 1 month 9 days
Forfeited, expired or cancelled (in shares)	(89,922)
Forfeited, expired, or cancelled, weighted average exercise price	$ 80.72
Warrants outstanding, balance (in shares)	9,213,008	7,181,741

Note 7 - Equity Incentive Pla_3

Note 7 - Equity Incentive Plans (Details Textual) - USD ($)		1 Months Ended	3 Months Ended	6 Months Ended
	Apr. 27, 2021	Feb. 28, 2021	Mar. 31, 2021	Jun. 30, 2022	Nov. 30, 2021	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				699,600
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)				$ 0.58
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested				$ 700,000
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount				$ 1,600,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)				2 years 1 month 2 days
Stock option [Member] | Former Chief Development Officer [Member]
Share-based Payment Arrangement, Period by Which Vesting is Accelerated (Year)		4 months
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		7 years
Stock option [Member] | Former Chief Development Officer [Member] | Research and Development Expense [Member]
Share-based Payment Arrangement, Accelerated Cost			$ 225,000
The 2021 Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	1,502,583
Common Stock, Capital Shares Reserved for Future Issuance, Period of Yearly Increase (Year)	10 years
Common Stock, Capital Shares Reserved for Future Issuance, Yearly Increase, Percentage	4%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				602,414
2013 Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)						0
The 2021 ESPP [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	693,500
Common Stock, Capital Shares Reserved for Future Issuance, Period of Yearly Increase (Year)	10 years
Common Stock, Capital Shares Reserved for Future Issuance, Yearly Increase, Percentage	1%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				0
2021 Inducement Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				360,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized					750,000

Note 7 - Equity Incentive Pla_4

Note 7 - Equity Incentive Plans - Fair Value Assumptions for Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disclosure Text Block [Abstract]
Weighted-average exercise price per share	$ 0.89	$ 17.72
Weighted-average expected term (years)	5 years 9 months 21 days	5 years
Weighted-average risk-free interest rate	2.17%	0.88%
Weighted-average expected dividend yield	$ 0	$ 0
Weighted-average volatility	73.70%	76.05%

Note 7 - Equity Incentive Pla_5

Note 7 - Equity Incentive Plans - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Disclosure Text Block [Abstract]
Options Outstanding (in shares)	1,956,855
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	699,600
Options Exercised (in shares)	0
Options Forfeited, expired or cancelled (in shares)	0
Options Outstanding (in shares)	2,656,455	1,956,855
Options Vested and expected to vest (in shares)	2,656,455
Options Exercisable (in shares)	1,145,598
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 7.32
Options Granted, Weighted Average Exercise Price (in dollars per share)	0.89
Options Forfeited, expired or cancelled, Weighted Average Exercise Price (in dollars per share)	0
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	5.63	$ 7.32
Options Vested and expected to vest, Weighted Average Exercise Price (in dollars per share)	5.63
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 10.78
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	8 years 4 months 9 days	8 years 1 month 13 days
Granted, Weighted Average Remaining Contractual Life (Year)	9 years 8 months 8 days
Options Vested and expected to vest, Weighted Average Remaining Contractual Life (Year)	8 years 4 months 9 days
Options Exercisable, Weighted Average Remaining Contractual Life (Year)	6 years 9 months 29 days
Options Outstanding, Aggregate Intrinsic Value	$ 0	$ 0
Options Vested and expected to vest, Aggregate Intrinsic Value	0
Options Exercisable, Aggregate Intrinsic Value	$ 0

Note 7 - Equity Incentive Pla_6

Note 7 - Equity Incentive Plans - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based compensation expense	$ 336	$ 495	$ 694	$ 1,064
Research and Development Expense [Member]
Share-based compensation expense	59	49	111	323
General and Administrative Expense [Member]
Share-based compensation expense	$ 277	$ 446	$ 583	$ 741

Note 8 - Collaborations and Lic

Note 8 - Collaborations and License Agreements (Details Textual)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) Agreement	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) Agreement	Jun. 30, 2021 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2021 USD ($)
Collaborations and License Agreements Upfront Fee					$ 1,000,000
Royalty Expense					$ 6,750,000
Milestone Payments	$ 0	$ 0	$ 0	$ 0
License Agreements with the Regents of the University of California [Member]
Number of License Agreements | Agreement	3		3
Royalty Rate, Portion of Sublicense Income to Be Paid, Percentage of One-third of Upfront Payment and Milestone Payment Received	30%		30%
Accrued Royalties, Current	$ 58,000,000		$ 58,000,000			$ 81,000,000

Note 9 - Commitments and Cont_3

Note 9 - Commitments and Contingencies (Details Textual)				3 Months Ended		6 Months Ended
	Jun. 01, 2022 USD ($)	May 24, 2022	May 09, 2022	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	May 12, 2022 ft²	Dec. 31, 2021 USD ($)
Loss Contingencies [Line Items]
Operating Lease, Right-of-Use Asset				$ 363,000		$ 363,000			$ 109,000
Operating Lease, Liability, Current				98,000		98,000			112,000
Operating Lease, Liability, Noncurrent				266,000		266,000			0
Imputed interest				66,000		66,000
Insurance Financing Arrangement [Member]
Loss Contingencies [Line Items]
Line of Credit Facility, Interest Rate During Period		6.92%	3.82%
Line of Credit Facility, Expiration Period		10 months	9 months
Remaining balance under insurance financing arrangements				$ 600,000		$ 600,000			$ 100,000
Base Rate [Member]
Loss Contingencies [Line Items]
Base Rent Rate Percentage	50%
Corporate Office [Member]
Loss Contingencies [Line Items]
Area of real estate property (Square Foot) | ft²								2,747
Lessee, operating lease, term of contract (Month)								39 months
Lessee, operating lease, renewal term (Month)								36 months
Lease monthly payment	$ 10,850
Operating lease, contractual monthly lease payments, yearly escalation rate	3%
Payments for (Proceeds from) Tenant Allowance	$ 28,000
Operating Lease, Right-of-Use Asset	355,000
Operating Lease, Liability, Current	83,000
Operating Lease, Liability, Noncurrent	$ 272,000
Lessee, Operating Lease, Discount Rate	10.75%
Lessee, Operating Lease, Remaining Lease Term				3 years 2 months 12 days		3 years 2 months 12 days
Operating Lease, Expense				$ 59,000	$ 49,000	$ 108,000	$ 98,000
Imputed interest				66,000		66,000
Total remaining future minimum lease payments				$ 430,000		$ 430,000

Note 9 - Commitments and Cont_4

Note 9 - Commitments and Contingencies - Schedule of Maturities of the Company's operating lease liabilities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022 (remaining)	$ 76
2023	133
2024	138
2025	83
Total operating lease payments	430
Less: imputed interest	(66)
Total operating lease obligations	$ 364

Note 10 - Related Party Trans_2

Note 10 - Related Party Transactions (Details Textual) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Aug. 19, 2021
Related Party Transactions [Abstract]
Warrants to purchase common stock			377,474
Warrants exercise price			$ 3.45
Warrants,expiration date	Aug. 26, 2026
Due to related parties, total	$ 111,250	$ 110,000