Palisade Bio (PALI) 10-K 22 Mar 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 28, 2021	Jun. 30, 2020
Document Information [Line Items]
Entity Registrant Name	Seneca Biopharma, Inc.
Entity Central Index Key	0001357459
Trading Symbol	snca
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		17,295,703
Entity Public Float			$ 12,444,149
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Title of 12(b) Security	Common Stock, $0.01 par value

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 10,529,244	$ 5,114,917
Trade and other receivables	116,279	21,064
Prepaid expenses	1,399,790	510,900
Assets held for sale	835,483
Total current assets	12,880,796	5,646,881
Property and equipment, net	10,776	41,036
Patents, net	147,133	668,936
ROU and other assets	10,439	227,036
Total assets	13,049,144	6,583,889
CURRENT LIABILITIES
Accounts payable and accrued expenses	649,345	824,406
Accrued severance and bonuses	2,322,241	135,686
Short-term notes and other current liabilities		264,665
Liabilities associated with assets held for sale	234,344
Total current liabilities	3,205,930	1,224,757
Warrant liabilities, at fair value	75,298	84,596
Lease liability, net of current portion		148,543
Total liabilities	3,281,228	1,457,896
Commitments and contingencies (Note 8)
STOCKHOLDERS' EQUITY
Preferred stock, 7,000,000 shares authorized, $0.01 par value; 200,000 shares issued and outstanding in 2020 and 2019	2,000	2,000
Common stock, $0.01 par value; 300 million shares authorized, 17,295,703 and 3,866,457 shares issued and outstanding in 2020 and 2019, respectively	172,957	38,665
Additional paid-in capital	247,836,057	227,067,058
Accumulated other comprehensive loss	(734)	(6,186)
Accumulated deficit	(238,242,364)	(221,975,544)
Total stockholders' equity	9,767,916	5,125,993
Total liabilities and stockholders' equity	$ 13,049,144	$ 6,583,889

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
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
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)	17,295,703	3,866,457
Common stock, shares outstanding (in shares)	17,295,703	3,866,457

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenues	$ 13,520	$ 15,394
Operating expenses:
Research and development costs	2,018,454	4,061,450
General and administrative expenses	8,670,612	4,585,638
Total operating expenses	10,689,066	8,647,088
Operating loss	(10,675,546)	(8,631,694)
Other income (expense):
Interest income	33,532	67,731
Interest expense	(14,015)	(8,920)
Gain from change in fair value of liability classified warrants	9,298	499,138
Warrant inducement and other expense	(5,620,089)	(277,906)
Total other income (expense)	(5,591,274)	280,043
Net loss	$ (16,266,820)	$ (8,351,651)
Net loss per common share - basic and diluted (in dollars per share)	$ (1.17)	$ (3.80)
Weighted average common shares outstanding - basic and diluted (in shares)	13,869,272	2,197,434
Comprehensive loss:
Net loss	$ (16,266,820)	$ (8,351,651)
Foreign currency translation adjustment	5,452	(5,773)
Comprehensive loss	$ (16,261,368)	$ (8,357,424)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2018	1,000,000	910,253
Balance at Dec. 31, 2018	$ 10,000	$ 9,103	$ 219,654,753	$ (413)	$ (213,623,893)	$ 6,049,550
Share rounding adjustment related to 1:20 reverse stock split (in shares)		6,117
Share rounding adjustment related to 1:20 reverse stock split		$ 61	(61)
Share-based payments			880,789			880,789
Issuance of common stock and warrants from capital raises, net (in shares)		416,315
Issuance of common stock and warrants from capital raises, net		$ 4,163	6,548,679			6,552,842
Issuance of common stock for conversion of Series A Preferred Stock (in shares)	(800,000)	155,496
Issuance of common stock for conversion of Series A Preferred Stock	$ (8,000)	$ 1,555	6,445
Issuance of restricted stock awards (in shares)		15,688
Issuance of restricted stock awards		$ 157	(157)
Issuance of common stock for warrant exercises (in shares)		2,361,462
Issuance of common stock for warrant exercises		$ 23,615	(23,379)			236
Issuance of common stock for RSU exercises (in shares)		1,126
Issuance of common stock for RSU exercises		$ 11	(11)
Foreign currency translation adjustments				(5,773)		(5,773)
Net loss					(8,351,651)	(8,351,651)
Balance (in shares) at Dec. 31, 2019	200,000	3,866,457
Balance at Dec. 31, 2019	$ 2,000	$ 38,665	227,067,058	(6,186)	(221,975,544)	5,125,993
Share-based payments			584,991			584,991
Issuance of common stock and warrants from capital raises, net (in shares)		5,000,000
Issuance of common stock and warrants from capital raises, net		$ 50,000	4,384,354			4,434,354
Issuance of common stock for warrant exercises (in shares)		2,871,296
Issuance of common stock for warrant exercises		$ 28,713	3,502,981			3,531,694
Issuance of common stock for RSU exercises (in shares)		563
Issuance of common stock for RSU exercises		$ 6	(6)
Foreign currency translation adjustments				5,452		5,452
Net loss					(16,266,820)	(16,266,820)
Issuance of commn stock and inducement warrants for warrant exercises (in shares)		5,561,554
Issuance of common stock and inducement warrants for warrant exercises		$ 55,615	12,296,637			12,352,252
Forfeiure of restricted stock awards (in shares)		(4,167)
Forfeiure of restricted stock awards		$ (42)
Forfeiure of restricted stock awards			42
Balance (in shares) at Dec. 31, 2020	200,000	17,295,703
Balance at Dec. 31, 2020	$ 2,000	$ 172,957	$ 247,836,057	$ (734)	$ (238,242,364)	$ 9,767,916

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals)	Jul. 17, 2019	Dec. 31, 2019
Reverse Stock Split [Member]
Reverse stock split	20	20

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	$ (16,266,820)	$ (8,351,651)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	92,272	143,859
Share-based compensation expenses	584,991	880,789
Change in fair value of liability classified warrants	(9,298)	(499,138)
Allowance for bad debt		362,176
Warrant inducement expense	5,620,089
Changes in operating assets and liabilities:
Trade and other receivables	(95,215)	272,993
Prepaid expenses	(1,024,494)	(142,310)
ROU and other assets	24,537	39,643
Accounts payable and accrued expenses	(105,043)	(15,741)
Accrued severance and bonuses	2,186,555	135,686
Other current liabilities	5,508	(47,414)
Lease and other long term liabilities	(38,211)	(34,572)
Net cash used in operating activities	(9,025,129)	(7,255,680)
Cash flows from investing activities:
Net cash provided by investing activities
Cash flows from financing activities:
Proceeds from the sale of common stock and warrants, net	11,150,318	6,552,842
Proceeds from warrant exercises	3,547,894	236
Proceeds from short-term notes payable		414,320
Payments of short-term notes payable	(232,296)	(377,893)
Net cash provided by financing activities	14,465,916	6,589,505
Effects of exchange rates on cash	(1,185)	(6,018)
Net decrease in cash and cash equivalents	5,439,602	(672,193)
Cash and cash equivalents, beginning of year	5,114,917	5,787,110
Cash and cash equivalents, end of year	10,554,519	5,114,917
Supplemental cash flow information:
Cash paid for interest	$ 14,015	$ 8,920

Note 1 - Organization and Busin

Note 1 - Organization and Business and Financial Condition	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. Organization and Business and Financial Condition Nature of Business In October 2019, one The Company was founded in 1997 Seneca Biopharma, Inc., is a clinical-stage biopharmaceutical company developing novel treatments for diseases of high unmet medical need. The Company had been in the process of transforming the organization through the acquisition and/or in-licensing of new science and technologies with the goal of developing and providing meaningful therapies for patients. In December 2020, first 2021. On July 17, 2019, 1 20 1 20 Liquidity and Going Concern The Company has incurred losses since its inception and has not not no one not In making this assessment we performed a comprehensive analysis of our current circumstances including: our financial position at December 31, 2020, one 10 Assuming the Merger is not we expect that our existing cash and cash equivalents as of December 31, 2020 12 no not may third not Based upon our out-licensing strategy, we have greatly reduced our spending on the research, development, pre-clinical and clinical testing of our small molecule and stem cell product candidates and have increased our spending on the evaluation of new assets and technologies with the goal of acquisition and/or entry into a strategic transaction. No

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies and Basis of Presentation	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2. Basis of Presentation Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company and our wholly owned subsidiary. All significant intercompany transactions and balances have been eliminated. Use of Estimates The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The consolidated financial statements include significant estimates for the expected economic life and value of our licensed technology and related patents, our net operating loss and related valuation allowance for tax purposes, the fair value of our liability classified warrants and our share-based compensation related to employees and directors, consultants and advisors, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates. Fair Value Measurements The carrying amounts of our short-term financial instruments, which primarily include cash and cash equivalents, accounts payable and accrued expenses, approximate their fair values due to their short maturities. The fair value of our long-term indebtedness was estimated based on the quoted prices for the same or similar issues or on the current rates offered to the Company for debt of the same remaining maturities and approximates the carrying value. The fair values of our liability classified warrants were estimated using Level 3 3 Foreign Currency Translation The functional currency of our wholly owned foreign subsidiary is its local currency. Assets and liabilities of our foreign subsidiary are translated into United States dollars based on exchange rates at the end of the reporting period; income and expense items are translated at the weighted average exchange rates prevailing during the reporting period. Translation adjustments for subsidiary are accumulated in other comprehensive income or loss, a component of stockholders' equity. Transaction gains or losses are included in the determination of net loss. Cash, Cash Equivalents and Credit Risk Cash equivalents consist of investments in low risk, highly liquid money market accounts and certificates of deposit with original maturities of 90 may Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents. Our investment policy, approved by our Board of Directors, limits the amount we may one not Cash and cash equivalents at December 31, 2020 $10,529,200 $25,300 Revenue The Company analyzes contracts to determine the appropriate revenue recognition using the following steps: (i) identification of contracts with customers; (ii) identification of distinct performance obligations in the contract; (iii) determination of contract transaction price; (iv) allocation of contract transaction price to the performance obligations; and (v) determination of revenue recognition based on timing of satisfaction of the performance obligation. The Company recognizes revenues upon the satisfaction of its performance obligation (upon transfer of control of promised goods or services to customers) in an amount that reflects the consideration to which it expects to be entitled to in exchange for those goods or services. Deferred revenue results from cash receipts from or amounts billed to customers in advance of the transfer of control of the promised services to the customer and is recognized as performance obligations are satisfied. When sales commissions or other costs to obtain contracts with customers are considered incremental and recoverable, those costs are deferred and then amortized as selling and marketing expenses on a straight-line basis over an estimated period of benefit. Research and Development Research and development costs are expensed as they are incurred. Research and development expenses consist primarily of costs associated with the pre-clinical development and clinical trials of our product candidates. For the years ended December 31, 2020 2019, $60,000 $459,000 , respectively of cost reimbursements from our grants as an offset to research and development expenses. The Company evaluated the grants and concluded that, based on the specific terms, they represent a cost reimbursement activity as opposed to a revenue generating activity, and are best reflected as an offset to the underlying research and development expense. Income (Loss) per Common Share Basic income (loss) per common share is computed by dividing total net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. For periods of net income when the effects are dilutive, diluted earnings per share is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding and the dilutive impact of all dilutive potential common shares. Dilutive potential common shares consist primarily of convertible preferred stock, stock options, restricted stock units and common stock purchase warrants. The dilutive impact of potential common shares resulting from common stock equivalents is determined by applying the treasury stock method. Our unvested restricted shares contain non-forfeitable rights to dividends, and therefore are considered to be participating securities; the calculation of basic and diluted income per share excludes net income attributable to the unvested restricted shares from the numerator and excludes the impact of the shares from the denominator. For all periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive due to the net losses; accordingly, diluted loss per share is the same as basic loss per share for the years ended December 31, 2020 2019. 6.4 7.3 December 31, 2020 2019, Share-Based Compensation We account for share-based compensation at fair value. Share-based compensation cost for stock options and stock purchase warrants granted to employees, board members and non-employee consultants is generally determined at the grant date using an option pricing model that uses Level 3 Intangible and Long-Lived Assets We assess impairment of our long-lived assets using a "primary asset" approach to determine the cash flow estimation period for a group of assets and liabilities that represents the unit of accounting for a long-lived asset to be held and used. Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not not No December 31, 2020 2019. Income Taxes We account for income taxes using the asset and liability approach, which requires the recognition of future tax benefits or liabilities on the temporary differences between the financial reporting and tax bases of our assets and liabilities. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. We also recognize a tax benefit from uncertain tax positions only if it is “more likely than not” Significant New Accounting Pronouncements Recently Adopted Guidance In August 2018, ASU 2018 13, 820 December 15, 2019. January 1, 2020. not Unadopted Guidance In June 2016, ASU No. 2016 13, December 15, 2022, not In August 2020, ASU No. 2020 06, 470 20 815 40 December 15, 2023, may not We have reviewed other recent accounting pronouncements and concluded that they are either not no

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 3. Fair value is the price that would be received from the sale of an asset or paid to transfer a liability assuming an orderly transaction in the most advantageous market at the measurement date. U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of observability of inputs used in measuring fair value. These levels are: • Level 1 • Level 2 not • Level 3 Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis We have segregated our financial assets and liabilities that are measured at fair value on a recurring into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. At December 31, 2020 2019, May 2016 August 2017 4 3 Level 1 Level 2 Level 3 Total Liabilities Liability classified stock purchase warrants $ - $ - $ 84,596 $ 84,596 Balance at December 31, 2019 $ - $ - $ 84,596 $ 84,596 Liability classified stock purchase warrants $ - $ - $ 75,298 $ 75,298 Balance at December 31, 2020 $ - $ - $ 75,298 $ 75,298 The following table presents the activity for those items measured at fair value on a recurring basis using Level 3 December 31, 2020: Mark-to-market liabilities - stock purchase warrants Balance at December 31, 2019 $ 84,596 Change in fair value - gain (9,298 ) Balance at December 31, 2020 $ 75,298 The following table presents the activity for those items measured at fair value on a recurring basis using Level 3 December 31, 2019: Mark-to-market liabilities - stock purchase warrants Balance at December 31, 2018 $ 583,734 Change in fair value - gain (499,138 ) Balance at December 31, 2019 $ 84,596 The gains resulting from the changes in the fair value of the liability classified warrants are classified as other income or expense in the accompanying consolidated statements of operations and comprehensive loss. The fair value of the common stock purchase warrants is determined based on the Black-Scholes option pricing model or other option pricing models as appropriate and includes the use of unobservable inputs such as the expected term, anticipated volatility and expected dividends. Changes in any of the assumptions related to the unobservable inputs identified above may

Note 4 - Stockholders' Equity

Note 4 - Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 4. We have granted share-based compensation awards to employees, board members and service providers. In addition, we have issued warrants to purchase common stock in conjunction with debt and equity offerings. Awards may ten December 31, 2020, 6.7 We record share-based compensation expense on a straight-line basis over the requisite service period. Share-based compensation expense included in the statements of operations and comprehensive loss was as follows: Year Ended December 31, 2020 2019 Research and development costs $ 30,883 $ 200,337 General and administrative expenses 554,108 680,452 Total $ 584,991 $ 880,789 Stock Options A summary of stock option activity and related information for the year ended December 31, 2020 Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at January 1, 2020 271,660 $ 61.83 7.8 $ - Granted 1,686,466 $ 0.62 $ - Exercised - - Forfeited/Expired (160,750 ) $ 23.82 Outstanding at December 31, 2020 1,797,376 $ 7.80 9.0 $ 438,650 Exercisable at December 31, 2020 812,742 $ 16.42 8.7 $ 182,771 Range of Exercise Prices Number of Options Outstanding Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value $0.62 1,686,466 $ 0.62 9.3 $ 438,650 $5.90 - $8.80 51,758 $ 6.32 8.5 - $22.20 - $80.60 23,326 $ 29.21 4.5 - $107.40 - $1,102.40 35,826 $ 333.81 1.8 - 1,797,376 $ 7.80 9.0 $ 438,650 The Company uses the Black-Scholes option pricing model for “plain vanilla” options and other pricing models as appropriate to calculate the fair value of options. Significant assumptions used in these models include: Year Ended December 31, 2020 2019 Annual dividend - - Expected life (in years) 4.0 - 5.2 4.8 - 5.5 Risk free interest rate 0.2% - 0.4% 1.8% - 2.5% Expected volatility 110% - 111% 97% - 115% Options granted in the years ended December 31, 2020 2019 $0.52 $3.45, December 31, 2020 2019 $500,000 $671,100, Unrecognized compensation cost for unvested stock option awards outstanding at December 31, 2020 $530,000 2.2 In 2019, $102,000 2019. RSUs We have granted restricted stock units (RSU's) that entitle the holders to receive shares of our common stock upon vesting and subject to certain restrictions regarding the exercise of the RSU's and the holders' ability to transfer the shares received upon exercise. The fair value of RSU's granted is based upon the market price of the underlying common stock as if they were vested and issued on the date of grant. A summary of our RSU activity for the year ended December 31, 2020 Number of RSU's Weighted-Average Grant Date Fair Value Outstanding at January 1, 2020 5,467 $ 29.62 Granted 24,000 $ 0.70 Exercised and converted to common shares (563 ) $ 236.20 Forfeited - $ - Outstanding at December 31, 2020 28,904 $ 1.58 Exercisable at December 31, 2020 22,904 $ 1.81 The total intrinsic value of the outstanding RSU's at December 31, 2020 $25,400. December 31, 2020 2019, $27,600 $13,900, December 31, 2020 2019 $300 $10,400, Unrecognized compensation cost for unvested RSU's outstanding at December 31, 2020 $4,000 0.3 Restricted Stock We have granted restricted stock to certain board members. A summary of our restricted stock activity for the year ended December 31, 2020 Shares of Restricted Stock Weighted-Average Grant Date Fair Value Outstanding at January 1, 2020 7,981 $ 5.95 Granted - $ - Vested (3,814 ) $ 5.90 Forfeited (4,167 ) $ 6.00 Outstanding at December 31, 2020 - $ - Restricted stock vesting in the year ended December 31, 2020 2019, $2,600 $14,500, Stock Purchase Warrants We have issued warrants to purchase common stock to certain officers, directors, stockholders and service providers as well as in conjunction with debt and equity offerings and at various times replacement warrants were issued as an inducement for warrant exercises. In May 2016 August 2017, 87,309 112,500 contained in the warrants. At December 31, 2020, 149,136 3 In January 2020, 5,555,554 $1.36 $7.6 $2.70 $1.36 5,555,554 $1.23 2,777,777 two 2,777,777 five 444,445 $1.70 five We recognized an expense in the accompanying consolidated statement of operations and comprehensive loss for the year ended December 31, 2020 $5.6 In conjunction with our May 2020 400,000 $1.25 five A summary of outstanding warrants at December 31, 2020 Range of Exercise Prices Number of Warrants Outstanding Range of Expiration Dates 0.900 -1.2525 3,233,407 May 2021 - May 2025 1.700 -3.3838 1,080,333 July 2024 - January 2025 6.000 -782.6060 195,489 July 2021 - April 2024 4,509,229 Preferred and Common Stock We have outstanding 200,000 4.5% December 2016. 4.5% 38,873 April July 2019, 800,000 4.5% 155,496 In May 2020, 5,000,000 $1.00 $5.0 $4.4 3 no. 333 218608 400,000 $1.25 5

Note 5 - Property and Equipment

Note 5 - Property and Equipment	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 5. The major classes of property and equipment December 31: 2020 2019 Furniture and fixtures $ 32,272 $ 35,407 Computers and office equipment 138,897 138,897 Lab equipment 744,787 817,149 915,956 991,453 Less accumulated depreciation (905,180 ) (950,417 ) Property and equipment, net $ 10,776 $ 41,036 In addition to the above, we have approximately $1,000 December 31, 2020. December 31, 2020 2019, $29,000 49,000,

Note 6 - Patents

Note 6 - Patents	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	Note 6. The Company holds patents related to its stem cell and small molecule technologies. Patent costs are capitalized and are being amortized over the life of the patents. The weighted average remaining unamortized life of issued patents was approximately 7.3 December 31, 2020. Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not not December 31, 2020 2019, no December 31: 2020 2019 Patent asset $ 338,463 $ 2,006,443 Accumulated amortization (191,330 ) (1,337,507 ) Net intangibles $ 147,133 $ 668,936 In addition to the above we have approximately $459,000 neural stem cell program December 31, 2020. Amortization expense for the years ended December 31, 2020 2019 $63,000 $95,000, five $18,000

Note 7 - Income Taxes

Note 7 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 7. Our provision for income taxes for the years ended December 31, 2020 2019 2020 2019 Current provision: Federal $ - $ - State - - Foreign - - Total current provision - - Deferred provision (benefit): Federal (192,953 ) (545,792 ) State (1,893,740 ) 1,001,786 Foreign - - Total deferred provision (benefit) (2,086,693 ) 455,994 Valuation allowance 2,086,693 (455,994 ) Consolidated income tax provision $ - $ - We provide a full valuation allowance on our net deferred tax assets because management has determined that it is more likely than not not The difference between income taxes computed by applying the statutory federal income tax rate to consolidated losses before income taxes and the consolidated provision for income taxes is attributable to the following: 2020 2019 Federal statutory rate (21.0 %) (21.0 %) State income taxes, net of Federal benefits (5.0 %) (5.3 %) Rate changes 3.8 % (6.4 %) Change in fair value of liability classified warrants 0.0 % (1.6 %) Warrant inducement expense 9.0 % 0.0 % Other, including non-deductible expenses 26.0 % 28.8 % Valuation allowance (12.8 %) 5.5 % Total 0.0 % 0.0 % The tax effects of significant temporary differences representing deferred tax assets as of December 31 2020 2019 Net operating loss carryforwards $ 40,897,678 $ 43,190,604 Stock based compensation expense 2,323,607 2,605,277 Tax credit carryforwards and other 1,377,275 889,372 Gross deferred tax assets 44,598,560 46,685,253 Valuation allowance (44,598,560 ) (46,685,253 ) Net deferred tax assets $ - $ - The Company had Federal net operating loss (“NOL”) carryforwards of approximately $158 December 31, 2020 $146 2018 2019. 2020. may may not not 2017.

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 8. Leases We currently operate one one Our corporate offices and primary research facilities are located in Germantown, Maryland, where we lease approximately 1,500 $5,600 12 December 31, 2021. not We also lease approximately 11,300 September 2019, $4,400 September 2024 first $205,000. Our long-term operating lease and related sublease for our San Diego facility both terminated in August 2019. $86,100 December 31, 2019. We recognized total rent expense of approximately $113,100 $194,200, December 31, 2020 2019, $67,700 December 31, 2020 2019 December 31 2020 2019 Operating lease cost $ 113,100 $ 171,000 Variable lease cost - 23,200 Sublease income - (86,100 ) Total net lease cost $ 113,100 $ 108,100 In the year ended December 31, 2019, $204,300 At December 31, 2020, $190,000 $159,000 Future payments under our lone long-term operating lease as of December 31, 2020 Future undiscounted cash flows: 2021 $ 58,400 2022 60,200 2023 62,100 2024 14,600 Total 195,300 Discount factor (36,300 ) Lease liability 159,000 Less current liability (40,500 ) Non-current lease liability $ 118,500 Accrued Severance In connection with the Company's reorganization resulting from the proposed Merger Transaction, the Company accrued approximately $2.3 not March 2021 Other From time to time, we are parties to legal proceedings that we believe to be ordinary, routine litigation incidental to the business. We are currently not On January 8, 2021, Sheridan v. Seneca Biopharma, Inc., et al. No. 1:21 00166 Also, on January 8, 2021, 1, Pirjamaat v. Seneca Biopharma, Inc., et al. No. 1:21 00172 On January 13, 2021, Johnson v. Seneca Biopharma, Inc., et al. No. 1:21 00310 On January 15, 2021, Mathews v. Seneca Biopharma, Inc., et al. No. 1:21 00242 On January 22, 2021, Pechal v. Seneca Biopharma, Inc., et al. No. 1:21 00585 On February 25, 2021, Curtis v. Seneca Biopharma, Inc., et al. No. 1:21 00292 On March 1, 2021, 1, Valdez v. Seneca Biopharma, Inc. No. 1:21 00980 On March 2, 2021, Anderson v. Seneca Biopharma, Inc., et al. No. 1:21 00326 On March 3, 2021, McIntire v. Seneca Biopharma, Inc., et al. No. 1:21 01869 On February 26, 2021, No. 21 0166. We believe the allegations in the Stockholder Complaints are without merit. Other stockholders may may No may

Note 9 - Related Party Receivab

Note 9 - Related Party Receivable	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 9. On August 10, 2016, six $658,000 The $658,000 $199,000 In March 2019, 50% $229,000 December 31, 2020, $229,000 July 2025. not 2019.

Note 10 - Disposal Group Assets

Note 10 - Disposal Group Assets Held for Sale	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Note 10. In late 2020, third 566 one December 31, 2020. no no no Based on current negotiations, the Company concluded the net proceeds from the sale are expected to exceed the net carrying value of the assets and liabilities and accordingly, no December 31, 2020. The assets and liabilities classified as a disposal group held for sale at December 31, 2020 Amount Cash $ 25,275 Prepaid expesnes 146,051 Property and equipment, net 1,128 Patents, net 458,738 ROU and other assets 204,291 Disposal group assets held for sale $ 835,483 Accounts payable and accrued expenses $ 75,306 Lease liabilities 159,038 Disposal group liabilities associated with assets held for sale $ 234,344

Note 11 - Subsequent Events

Note 11 - Subsequent Events	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	Note 11. On March 17, 2021, Such amounts are as follows: Name Severance and Bonus Kenneth Carter, PhD $ 816,995 Dane Saglio $ 452,572 Matthew Kalnik, PhD $ 599,868 Senior VP of R&D $ 384,702 Total: $ 2,254,137 Additionally, in the event that the Company consummates the Merger (as defined below), each employment agreement provides for the following additional severance and benefits: Severance in Connection with a Change in Control Name CIC Severance and Bonus 1 Kenneth Carter, PhD $ 277,248 Dane Saglio $ 100,857 Matthew Kalnik, PhD $ 150,225 Senior VP of R&D $ 85,567 Total: $ 613,897 _____________ 1. Represents additional severance benefits in connection with a termination without cause in connection with a change in control. Repurchase of Employee Stock Options Immediately prior to the closing of the Merger, each respective Employee's outstanding common stock options will be purchased by the Company for the following consideration: Name Option Repurchase Kenneth Carter, PhD $ 188,787 Dane Saglio $ 362,391 Matthew Kalnik, PhD $ 476,662 Senior VP of R&D $ 395,166 Total: $ 1,423,006 As a result of the Separation Agreements, the employment of the Employees was terminated on March 17, 2021. Appointment of Mr. Saglio as Principal Executive Officer On March 17, 2021, $250

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company and our wholly owned subsidiary. All significant intercompany transactions and balances have been eliminated.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The consolidated financial statements include significant estimates for the expected economic life and value of our licensed technology and related patents, our net operating loss and related valuation allowance for tax purposes, the fair value of our liability classified warrants and our share-based compensation related to employees and directors, consultants and advisors, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements The carrying amounts of our short-term financial instruments, which primarily include cash and cash equivalents, accounts payable and accrued expenses, approximate their fair values due to their short maturities. The fair value of our long-term indebtedness was estimated based on the quoted prices for the same or similar issues or on the current rates offered to the Company for debt of the same remaining maturities and approximates the carrying value. The fair values of our liability classified warrants were estimated using Level 3 3
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation The functional currency of our wholly owned foreign subsidiary is its local currency. Assets and liabilities of our foreign subsidiary are translated into United States dollars based on exchange rates at the end of the reporting period; income and expense items are translated at the weighted average exchange rates prevailing during the reporting period. Translation adjustments for subsidiary are accumulated in other comprehensive income or loss, a component of stockholders' equity. Transaction gains or losses are included in the determination of net loss.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents and Credit Risk Cash equivalents consist of investments in low risk, highly liquid money market accounts and certificates of deposit with original maturities of 90 may Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents. Our investment policy, approved by our Board of Directors, limits the amount we may one not Cash and cash equivalents at December 31, 2020 $10,529,200 $25,300
Revenue from Contract with Customer [Policy Text Block]	Revenue The Company analyzes contracts to determine the appropriate revenue recognition using the following steps: (i) identification of contracts with customers; (ii) identification of distinct performance obligations in the contract; (iii) determination of contract transaction price; (iv) allocation of contract transaction price to the performance obligations; and (v) determination of revenue recognition based on timing of satisfaction of the performance obligation. The Company recognizes revenues upon the satisfaction of its performance obligation (upon transfer of control of promised goods or services to customers) in an amount that reflects the consideration to which it expects to be entitled to in exchange for those goods or services. Deferred revenue results from cash receipts from or amounts billed to customers in advance of the transfer of control of the promised services to the customer and is recognized as performance obligations are satisfied. When sales commissions or other costs to obtain contracts with customers are considered incremental and recoverable, those costs are deferred and then amortized as selling and marketing expenses on a straight-line basis over an estimated period of benefit.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Research and development costs are expensed as they are incurred. Research and development expenses consist primarily of costs associated with the pre-clinical development and clinical trials of our product candidates. For the years ended December 31, 2020 2019, $60,000 $459,000 , respectively of cost reimbursements from our grants as an offset to research and development expenses. The Company evaluated the grants and concluded that, based on the specific terms, they represent a cost reimbursement activity as opposed to a revenue generating activity, and are best reflected as an offset to the underlying research and development expense.
Earnings Per Share, Policy [Policy Text Block]	Income (Loss) per Common Share Basic income (loss) per common share is computed by dividing total net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. For periods of net income when the effects are dilutive, diluted earnings per share is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding and the dilutive impact of all dilutive potential common shares. Dilutive potential common shares consist primarily of convertible preferred stock, stock options, restricted stock units and common stock purchase warrants. The dilutive impact of potential common shares resulting from common stock equivalents is determined by applying the treasury stock method. Our unvested restricted shares contain non-forfeitable rights to dividends, and therefore are considered to be participating securities; the calculation of basic and diluted income per share excludes net income attributable to the unvested restricted shares from the numerator and excludes the impact of the shares from the denominator. For all periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive due to the net losses; accordingly, diluted loss per share is the same as basic loss per share for the years ended December 31, 2020 2019. 6.4 7.3 December 31, 2020 2019,
Share-based Payment Arrangement [Policy Text Block]	Share-Based Compensation We account for share-based compensation at fair value. Share-based compensation cost for stock options and stock purchase warrants granted to employees, board members and non-employee consultants is generally determined at the grant date using an option pricing model that uses Level 3
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible and Long-Lived Assets We assess impairment of our long-lived assets using a "primary asset" approach to determine the cash flow estimation period for a group of assets and liabilities that represents the unit of accounting for a long-lived asset to be held and used. Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not not No December 31, 2020 2019.
Income Tax, Policy [Policy Text Block]	Income Taxes We account for income taxes using the asset and liability approach, which requires the recognition of future tax benefits or liabilities on the temporary differences between the financial reporting and tax bases of our assets and liabilities. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. We also recognize a tax benefit from uncertain tax positions only if it is “more likely than not”
New Accounting Pronouncements, Policy [Policy Text Block]	Significant New Accounting Pronouncements Recently Adopted Guidance In August 2018, ASU 2018 13, 820 December 15, 2019. January 1, 2020. not Unadopted Guidance In June 2016, ASU No. 2016 13, December 15, 2022, not In August 2020, ASU No. 2020 06, 470 20 815 40 December 15, 2023, may not We have reviewed other recent accounting pronouncements and concluded that they are either not no

Note 3 - Fair Value Measureme_2

Note 3 - Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total Liabilities Liability classified stock purchase warrants $ - $ - $ 84,596 $ 84,596 Balance at December 31, 2019 $ - $ - $ 84,596 $ 84,596 Liability classified stock purchase warrants $ - $ - $ 75,298 $ 75,298 Balance at December 31, 2020 $ - $ - $ 75,298 $ 75,298
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Mark-to-market liabilities - stock purchase warrants Balance at December 31, 2019 $ 84,596 Change in fair value - gain (9,298 ) Balance at December 31, 2020 $ 75,298 Mark-to-market liabilities - stock purchase warrants Balance at December 31, 2018 $ 583,734 Change in fair value - gain (499,138 ) Balance at December 31, 2019 $ 84,596

Note 4 - Stockholders' Equity (

Note 4 - Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Year Ended December 31, 2020 2019 Research and development costs $ 30,883 $ 200,337 General and administrative expenses 554,108 680,452 Total $ 584,991 $ 880,789
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at January 1, 2020 271,660 $ 61.83 7.8 $ - Granted 1,686,466 $ 0.62 $ - Exercised - - Forfeited/Expired (160,750 ) $ 23.82 Outstanding at December 31, 2020 1,797,376 $ 7.80 9.0 $ 438,650 Exercisable at December 31, 2020 812,742 $ 16.42 8.7 $ 182,771
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]	Range of Exercise Prices Number of Options Outstanding Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value $0.62 1,686,466 $ 0.62 9.3 $ 438,650 $5.90 - $8.80 51,758 $ 6.32 8.5 - $22.20 - $80.60 23,326 $ 29.21 4.5 - $107.40 - $1,102.40 35,826 $ 333.81 1.8 - 1,797,376 $ 7.80 9.0 $ 438,650
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year Ended December 31, 2020 2019 Annual dividend - - Expected life (in years) 4.0 - 5.2 4.8 - 5.5 Risk free interest rate 0.2% - 0.4% 1.8% - 2.5% Expected volatility 110% - 111% 97% - 115%
Schedule of Share-based Compensation, Warrant Activity [Table Text Block]	Range of Exercise Prices Number of Warrants Outstanding Range of Expiration Dates 0.900 -1.2525 3,233,407 May 2021 - May 2025 1.700 -3.3838 1,080,333 July 2024 - January 2025 6.000 -782.6060 195,489 July 2021 - April 2024 4,509,229
Restricted Stock [Member]
Notes Tables
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Shares of Restricted Stock Weighted-Average Grant Date Fair Value Outstanding at January 1, 2020 7,981 $ 5.95 Granted - $ - Vested (3,814 ) $ 5.90 Forfeited (4,167 ) $ 6.00 Outstanding at December 31, 2020 - $ -
Restricted Stock Units (RSUs) [Member]
Notes Tables
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Number of RSU's Weighted-Average Grant Date Fair Value Outstanding at January 1, 2020 5,467 $ 29.62 Granted 24,000 $ 0.70 Exercised and converted to common shares (563 ) $ 236.20 Forfeited - $ - Outstanding at December 31, 2020 28,904 $ 1.58 Exercisable at December 31, 2020 22,904 $ 1.81

Note 5 - Property and Equipme_2

Note 5 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	2020 2019 Furniture and fixtures $ 32,272 $ 35,407 Computers and office equipment 138,897 138,897 Lab equipment 744,787 817,149 915,956 991,453 Less accumulated depreciation (905,180 ) (950,417 ) Property and equipment, net $ 10,776 $ 41,036

Note 6 - Patents (Tables)

Note 6 - Patents (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	2020 2019 Patent asset $ 338,463 $ 2,006,443 Accumulated amortization (191,330 ) (1,337,507 ) Net intangibles $ 147,133 $ 668,936

Note 7 - Income Taxes (Tables)

Note 7 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2020 2019 Current provision: Federal $ - $ - State - - Foreign - - Total current provision - - Deferred provision (benefit): Federal (192,953 ) (545,792 ) State (1,893,740 ) 1,001,786 Foreign - - Total deferred provision (benefit) (2,086,693 ) 455,994 Valuation allowance 2,086,693 (455,994 ) Consolidated income tax provision $ - $ -
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2020 2019 Federal statutory rate (21.0 %) (21.0 %) State income taxes, net of Federal benefits (5.0 %) (5.3 %) Rate changes 3.8 % (6.4 %) Change in fair value of liability classified warrants 0.0 % (1.6 %) Warrant inducement expense 9.0 % 0.0 % Other, including non-deductible expenses 26.0 % 28.8 % Valuation allowance (12.8 %) 5.5 % Total 0.0 % 0.0 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2020 2019 Net operating loss carryforwards $ 40,897,678 $ 43,190,604 Stock based compensation expense 2,323,607 2,605,277 Tax credit carryforwards and other 1,377,275 889,372 Gross deferred tax assets 44,598,560 46,685,253 Valuation allowance (44,598,560 ) (46,685,253 ) Net deferred tax assets $ - $ -

Note 8 - Commitments and Cont_2

Note 8 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Lease, Cost [Table Text Block]	2020 2019 Operating lease cost $ 113,100 $ 171,000 Variable lease cost - 23,200 Sublease income - (86,100 ) Total net lease cost $ 113,100 $ 108,100
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2021 $ 58,400 2022 60,200 2023 62,100 2024 14,600 Total 195,300 Discount factor (36,300 ) Lease liability 159,000 Less current liability (40,500 ) Non-current lease liability $ 118,500

Note 10 - Disposal Group Asse_2

Note 10 - Disposal Group Assets Held for Sale (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	Amount Cash $ 25,275 Prepaid expesnes 146,051 Property and equipment, net 1,128 Patents, net 458,738 ROU and other assets 204,291 Disposal group assets held for sale $ 835,483 Accounts payable and accrued expenses $ 75,306 Lease liabilities 159,038 Disposal group liabilities associated with assets held for sale $ 234,344

Note 11 - Subsequent Events (Ta

Note 11 - Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Restructuring and Related Costs [Table Text Block]	Name Severance and Bonus Kenneth Carter, PhD $ 816,995 Dane Saglio $ 452,572 Matthew Kalnik, PhD $ 599,868 Senior VP of R&D $ 384,702 Total: $ 2,254,137 Name CIC Severance and Bonus 1 Kenneth Carter, PhD $ 277,248 Dane Saglio $ 100,857 Matthew Kalnik, PhD $ 150,225 Senior VP of R&D $ 85,567 Total: $ 613,897
Schedule of Options to be Repurchased [Table Text Block]	Name Option Repurchase Kenneth Carter, PhD $ 188,787 Dane Saglio $ 362,391 Matthew Kalnik, PhD $ 476,662 Senior VP of R&D $ 395,166 Total: $ 1,423,006

Note 1 - Organization and Bus_2

Note 1 - Organization and Business and Financial Condition (Details Textual)	Jul. 17, 2019	Dec. 31, 2020	Dec. 31, 2019
Number of Operating Segments		1
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20		20

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies and Basis of Presentation (Details Textual) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 10,529,244	$ 5,114,917
Cost Reimbursements from SBIR Grant as Offset to Research and Development Expenses	$ 60,000	$ 459,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	6.4	7.3
Asset Impairment Charges, Total	$ 0	$ 0
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member]
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	$ 25,300

Note 3 - Fair Value Measureme_3

Note 3 - Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Fair value of liabilities	$ 75,298	$ 84,596
Stock Purchase Warrants [Member]
Liability classified stock purchase warrants	75,298	84,596
Fair Value, Inputs, Level 1 [Member]
Fair value of liabilities
Fair Value, Inputs, Level 1 [Member] | Stock Purchase Warrants [Member]
Liability classified stock purchase warrants
Fair Value, Inputs, Level 2 [Member]
Fair value of liabilities
Fair Value, Inputs, Level 2 [Member] | Stock Purchase Warrants [Member]
Liability classified stock purchase warrants
Fair Value, Inputs, Level 3 [Member]
Fair value of liabilities	75,298	84,596
Fair Value, Inputs, Level 3 [Member] | Stock Purchase Warrants [Member]
Liability classified stock purchase warrants	$ 75,298	$ 84,596

Note 3 - Fair Value Measureme_4

Note 3 - Fair Value Measurements - Activity for Items Measured at Fair Value on a Recurring Basis (Details) - Stock Purchase Warrants [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance	$ 84,596	$ 583,734
Change in fair value - gain	(9,298)	(499,138)
Balance	$ 75,298	$ 84,596

Note 4 - Stockholders' Equity_2

Note 4 - Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended					4 Months Ended	12 Months Ended
	May 31, 2020	Jan. 31, 2020	Aug. 31, 2017	Dec. 31, 2016	May 31, 2016	Jul. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)							10 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)							6,700,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)							$ 0.52	$ 3.45
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value							$ 500,000	$ 671,100
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount							$ 530,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)							2 years 73 days
Additional Research and Development Expense Due to Modifications								102,000
Proceeds from Warrant Exercises							$ 3,547,894	236
Warrant Inducement Expense							5,620,089
Proceeds from Issuance of Common Stock, Net							$ 11,150,318	$ 6,552,842
Private Placement [Member]
Conversion of Stock, Shares Converted (in shares)						800,000
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares)						155,496
May 2020 Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)	5,000,000
Shares Issued, Price Per Share (in dollars per share)	$ 1
Proceeds from Issuance of Common Stock	$ 5,000,000
Proceeds from Issuance of Common Stock, Net	$ 4,400,000
Series A 4.5% Convertible Preferred Stock [Member] | Private Placement [Member]
Stock Issued During Period, Shares, New Issues (in shares)				200,000
Preferred Stock, Dividend Rate, Percentage				4.50%
Convertible Preferred Stock, Issuable Upon Conversion of All Shares (in shares)				38,873
Stock Purchase Warrants [Member]
Class of Warrant or Right, Issued During Period (in shares)			112,500		87,309
Class of Warrant or Right, Outstanding (in shares)							149,136
Class of Warrant or Right, Exercised During Period (in shares)		5,555,554
Class of Warrant or Right, Exercised During Period, Exercise Price (in dollars per share)		$ 1.36
Proceeds from Warrant Exercises		$ 7,600,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 1.36						$ 2.70
Warrant Inducement Expense							$ 5,600,000
Replacement Stock Purchase Warrants [Member]
Class of Warrant or Right, Outstanding (in shares)		5,555,554
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 1.23
Stock Purchase Warrants With 2 Year Term [Member]
Class of Warrant or Right, Outstanding (in shares)		2,777,777
Warrants and Rights Outstanding, Term (Year)		2 years
Stock Purchase Warrants With 5 Year Term [Member]
Class of Warrant or Right, Outstanding (in shares)		2,777,777
Warrants and Rights Outstanding, Term (Year)		5 years
Placement Agent Stock Purchase Warrants [Member]
Class of Warrant or Right, Issued During Period (in shares)	400,000	444,445
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 1.25	$ 1.70
Warrants and Rights Outstanding, Term (Year)	5 years	5 years
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)							109 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding							$ 25,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value							27,600	$ 13,900
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested							300	10,400
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount							4,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding							$ 2,600	$ 14,500

Note 4 - Stockholders' Equity -

Note 4 - Stockholders' Equity - Share-based Compensation Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based compensation expense	$ 584,991	$ 880,789
Research and Development Expense [Member]
Share-based compensation expense	30,883	200,337
General and Administrative Expense [Member]
Share-based compensation expense	$ 554,108	$ 680,452

Note 4 - Stockholders' Equity_3

Note 4 - Stockholders' Equity - Summary of Stock Option Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Options Outstanding (in shares)	271,660
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 61.83
Weighted-average remaining contractual life (Year)	9 years	7 years 292 days
Options Granted (in shares)	1,686,466
Options Granted, Weighted Average Exercise Price (in dollars per share)	$ 0.62
Options Exercised (in shares)
Options Exercised, Weighted Average Exercise Price (in dollars per share)
Forfeited/Expired (in shares)	(160,750)
Forfeited/Expired, Weighted Average Exercise Price (in dollars per share)	$ 23.82
Options Outstanding (in shares)	1,797,376	271,660
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 7.80	$ 61.83
Weighted-average remaining contractual life	$ 438,650
Options Exercisable (in shares)	812,742
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 16.42
Options Exercisable, Weighted Average Remaining Contractual Life (Year)	8 years 255 days
Options Exercisable, Aggregate Intrinsic Value	$ 182,771

Note 4 - Stockholders' Equity_4

Note 4 - Stockholders' Equity - Stock Options by Exercise Price Range (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Number of options outstanding (in shares)	1,797,376
Weighted-average exercise price (in dollars per share)	$ 7.80	$ 61.83
Weighted-average remaining contractual life (Year)	9 years	7 years 292 days
Weighted-average remaining contractual life	$ 438,650
Range One [Member]
Range of exercise prices, lower limit (in dollars per share)	$ 0.62
Range of exercise prices, upper limit (in dollars per share)	$ 0.62
Number of options outstanding (in shares)	1,686,466
Weighted-average exercise price (in dollars per share)	$ 0.62
Weighted-average remaining contractual life (Year)	9 years 109 days
Weighted-average remaining contractual life	$ 438,650
Range Two [Member]
Range of exercise prices, lower limit (in dollars per share)	$ 5.90
Range of exercise prices, upper limit (in dollars per share)	$ 8.80
Number of options outstanding (in shares)	51,758
Weighted-average exercise price (in dollars per share)	$ 6.32
Weighted-average remaining contractual life (Year)	8 years 182 days
Weighted-average remaining contractual life
Range Three [Member]
Range of exercise prices, lower limit (in dollars per share)	$ 22.20
Range of exercise prices, upper limit (in dollars per share)	$ 80.60
Number of options outstanding (in shares)	23,326
Weighted-average exercise price (in dollars per share)	$ 29.21
Weighted-average remaining contractual life (Year)	4 years 182 days
Weighted-average remaining contractual life
Range Four [Member]
Range of exercise prices, lower limit (in dollars per share)	$ 107.40
Range of exercise prices, upper limit (in dollars per share)	$ 1,102.40
Number of options outstanding (in shares)	35,826
Weighted-average exercise price (in dollars per share)	$ 333.81
Weighted-average remaining contractual life (Year)	1 year 292 days
Weighted-average remaining contractual life

Note 4 - Stockholders' Equity_5

Note 4 - Stockholders' Equity - Fair Value Assumptions for Stock Options (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Minimum [Member]
Annual dividend
Expected life (Year)	4 years	4 years 292 days
Risk free interest rate	0.20%	1.80%
Expected volatility	110.00%	97.00%
Maximum [Member]
Annual dividend
Expected life (Year)	5 years 73 days	5 years 182 days
Risk free interest rate	0.40%	2.50%
Expected volatility	111.00%	115.00%

Note 4 - Stockholders' Equity_6

Note 4 - Stockholders' Equity - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Outstanding (in shares) | shares	5,467
Outstanding, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 29.62
Granted (in shares) | shares	24,000
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 0.70
Exercised and converted to common shares (in shares) | shares	(563)
Exercised and converted to common shares, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 236.20
Forfeited (in shares) | shares
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares
Outstanding (in shares) | shares	28,904
Outstanding, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 1.58
Exercisable (in shares) | shares	22,904
Exercisable, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 1.81

Note 4 - Stockholders' Equity_7

Note 4 - Stockholders' Equity - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Outstanding (in shares) | shares	7,981
Outstanding, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 5.95
Granted (in shares) | shares
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares
Vested (in shares) | shares	(3,814)
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 5.90
Forfeited (in shares) | shares	(4,167)
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 6
Outstanding (in shares) | shares
Outstanding, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares

Note 4 - Stockholders' Equity_8

Note 4 - Stockholders' Equity - Summary of Warrants (Details) - Stock Purchase Warrants [Member]	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Number of warrants outstanding (in shares) | shares	4,509,229
Minimum [Member]
Expiration dates
Maximum [Member]
Expiration dates
Range One [Member]
Lower exercise price range (in dollars per share)	$ 0.90
Higher exercise price range (in dollars per share)	$ 1.25
Number of warrants outstanding (in shares) | shares	3,233,407
Range One [Member] | Minimum [Member]
Expiration dates	May 2021
Range One [Member] | Maximum [Member]
Expiration dates	May 2025
Range Two [Member]
Lower exercise price range (in dollars per share)	$ 1.70
Higher exercise price range (in dollars per share)	$ 3.38
Number of warrants outstanding (in shares) | shares	1,080,333
Range Two [Member] | Minimum [Member]
Expiration dates	July 2024
Range Two [Member] | Maximum [Member]
Expiration dates	January 2025
Range Three [Member]
Lower exercise price range (in dollars per share)	$ 6
Higher exercise price range (in dollars per share)	$ 782.60
Number of warrants outstanding (in shares) | shares	195,489
Range Three [Member] | Minimum [Member]
Expiration dates	July 2021
Range Three [Member] | Maximum [Member]
Expiration dates	April 2024

Note 5 - Property and Equipme_3

Note 5 - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment, Gross, Ending Balance	$ 915,956	$ 991,453
Depreciation, Total	29,000	$ 49,000
CHINA
Property, Plant and Equipment, Gross, Ending Balance	$ 1,000

Note 5 - Property and Equipme_4

Note 5 - Property and Equipment - Major Classes of Property and Equipment (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Property and equipment, gross	$ 915,956	$ 991,453
Less accumulated depreciation	(905,180)	(950,417)
Property and equipment, net	10,776	41,036
Furniture and Fixtures [Member]
Property and equipment, gross	32,272	35,407
Office Equipment [Member]
Property and equipment, gross	138,897	138,897
Equipment [Member]
Property and equipment, gross	$ 744,787	$ 817,149

Note 6 - Patents (Details Textu

Note 6 - Patents (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)	7 years 109 days
Asset Impairment Charges, Total	$ 0	$ 0
Amortization of Intangible Assets, Total	63,000	$ 95,000
Finite-Lived Intangible Asset, Expected Amortization, Year One	18,000
Finite-Lived Intangible Asset, Expected Amortization, Year Two	18,000
Finite-Lived Intangible Asset, Expected Amortization, Year Three	18,000
Finite-Lived Intangible Asset, Expected Amortization, Year Four	18,000
Finite-Lived Intangible Asset, Expected Amortization, Year Five	18,000
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member]
Disposal Group, Including Discontinued Operation, Intangible Assets	$ 459,000

Note 6 - Patents - Intangible A

Note 6 - Patents - Intangible Assets and Accumulated Amortization (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Patent asset	$ 338,463	$ 2,006,443
Accumulated amortization	(191,330)	(1,337,507)
Net intangibles	$ 147,133	$ 668,936

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2017
Operating Loss Carryforwards, Total	$ 158,000
Unrecognized Tax Benefits, Ending Balance	$ 0
Open Tax Year	2017 2018 2019 2020
Tax Year 2019 [Member]
Operating Loss Carryforwards, Subject to Expiration		$ 146,000

Note 7 - Income Taxes - Provisi

Note 7 - Income Taxes - Provision for Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Federal
State
Foreign
Total current provision
Federal	(192,953)	(545,792)
State	(1,893,740)	1,001,786
Foreign		0
Total deferred provision (benefit)	(2,086,693)	455,994
Valuation allowance	2,086,693	(455,994)
Consolidated income tax provision

Note 7 - Income Taxes - Effecti

Note 7 - Income Taxes - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Federal statutory rate	(21.00%)	(21.00%)
State income taxes, net of Federal benefits	(5.00%)	(5.30%)
Rate changes	3.80%	(6.40%)
Change in fair value of liability classified warrants	0.00%	(1.60%)
Warrant inducement expense	9.00%	0.00%
Other, including non-deductible expenses	26.00%	28.80%
Valuation allowance	(12.80%)	5.50%
Total	0.00%	0.00%

Note 7 - Income Taxes - Tax Eff

Note 7 - Income Taxes - Tax Effects of Significant Temporary Differences Representing Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Net operating loss carryforwards	$ 40,897,678	$ 43,190,604
Stock based compensation expense	2,323,607	2,605,277
Tax credit carryforwards and other	1,377,275	889,372
Gross deferred tax assets	44,598,560	46,685,253
Valuation allowance	(44,598,560)	(46,685,253)
Net deferred tax assets

Note 8 - Commitments and Cont_3

Note 8 - Commitments and Contingencies (Details Textual)	1 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)ft²	Dec. 31, 2020USD ($)ft²	Dec. 31, 2019USD ($)	Dec. 31, 2018
Sublease Income			$ 86,100
Operating Lease, Expense		113,100	194,200
Operating Lease, Right-of-Use Asset			204,300
Accrued Severance		2,300,000
Other Assets [Member]
Operating Lease, Right-of-Use Asset		190,000
Short-term Notes and Other Current Liabilities and Lease Liability, Net of Current Portion [Member]
Operating Lease, Liability, Total		159,000
Short-term Leases [Member]
Operating Lease, Expense		$ 67,700	$ 67,700
UNITED STATES
Number of Facilities		1
CHINA
Number of Facilities		1
Area of Real Estate Property (Square Foot) | ft²	11,300
Lease Monthly Payment	$ 4,400
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 205,000
Germantown, MD [Member]
Area of Real Estate Property (Square Foot) | ft²		1,500
Lease Monthly Payment		$ 5,600
Lessee, Operating Lease, Term of Contract (Month)				1 year

Note 8 - Commitments and Cont_4

Note 8 - Commitments and Contingencies - Lease Cost (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating lease cost	$ 113,100	$ 171,000
Variable lease cost		23,200
Sublease income		(86,100)
Total net lease cost	$ 113,100	$ 108,100

Note 8 - Commitments and Cont_5

Note 8 - Commitments and Contingencies - Maturities of Operating Lease (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
2021	$ 58,400
2022	60,200
2023	62,100
2024	14,600
Total	195,300
Discount factor	(36,300)
Non-current lease liability		$ 148,543
Liabilities [Member]
Lease liability	159,000
Current Liabilities [Member]
Less current liability	(40,500)
Disposal Group Assets [Member]
Non-current lease liability	$ 118,500

Note 9 - Related Party Receiv_2

Note 9 - Related Party Receivable (Details Textual) - Chief Scientific Officer [Member] - Repayment Agreement of Improperly Expense Reimbursement [Member] - USD ($)	Aug. 10, 2016	Mar. 31, 2019	Dec. 31, 2020
Due from Related Parties, Term (Year)	6 years
Due from Related Parties, Total	$ 658,000		$ 229,000
Due from Related Party, Discount	$ 199,000
Debt Instrument, Decrease, Forgiveness		$ 229,000

Note 10 - Disposal Group Asse_3

Note 10 - Disposal Group Assets Held for Sale - Disposal Group Held for Sale Assets and Liabilities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Disposal group assets held for sale	$ 835,483
Disposal group liabilities associated with assets held for sale	234,344
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	25,275
Prepaid expesnes	146,051
Property and equipment, net	1,128
Patents, net	458,738
ROU and other assets	204,291
Disposal group assets held for sale	835,483
Accounts payable and accrued expenses	75,306
Lease liabilities	159,038
Disposal group liabilities associated with assets held for sale	$ 234,344

Note 11 - Subsequent Events (De

Note 11 - Subsequent Events (Details Textual)	Mar. 17, 2021USD ($)
Principal Executive Officer [Member] | Subsequent Event [Member]
Consulting Agreement, Hourly Rate	$ 250

Note 11 - Subsequent Events - T

Note 11 - Subsequent Events - Termination Costs (Details) - Subsequent Event [Member] - Employee Severance [Member]	Mar. 17, 2021USD ($)
Termination cost	$ 2,254,137
Additional severance benefits	613,897	[1]
Former Executive Chairman [Member]
Termination cost	816,995
Additional severance benefits	277,248	[1]
Former Chief Financial Officer [Member]
Termination cost	452,572
Additional severance benefits	100,857	[1]
Former Chief Operating Officer [Member]
Termination cost	599,868
Additional severance benefits	150,225	[1]
Former Senior Vice President of R&D [Member]
Termination cost	384,702
Additional severance benefits	$ 85,567	[1]
[1]	Represents additional severance benefits in connection with a termination without cause in connection with a change in control.

Note 11 - Subsequent Events - O

Note 11 - Subsequent Events - Options to be Repurchased (Details) - Subsequent Event [Member]	Mar. 17, 2021USD ($)
Options to be repurchased	$ 1,423,006
Former Executive Chairman [Member]
Options to be repurchased	188,787
Former Chief Financial Officer [Member]
Options to be repurchased	362,391
Former Chief Operating Officer [Member]
Options to be repurchased	476,662
Former Senior Vice President of R&D [Member]
Options to be repurchased	$ 395,166