DiaMedica Therapeutics (DMAC) 10-K 23 Mar 20 2019 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Mar. 20, 2020	Jun. 30, 2019
Document Information [Line Items]
Entity Registrant Name	DiaMedica Therapeutics Inc.
Entity Central Index Key	0001401040
Trading Symbol	dmac
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	No
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		14,139,074
Entity Public Float			$ 53.4
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Title of 12(b) Security	Voting Common Shares, no par value per share

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 3,883	$ 16,823
Marketable securities	3,995
Amounts receivable	823	780
Deposits	88
Prepaid expenses and other assets	47	369
Total current assets	8,836	17,972
Non-current assets:
Operating lease right-of-use asset	153
Property and equipment, net	64	96
Deposits		271
Total non-current assets	217	367
Total assets	9,053	18,339
Current liabilities:
Accounts payable	182	483
Accrued liabilities	1,076	808
Finance lease obligation	6	5
Operating lease obligation	54
Total current liabilities	1,318	1,296
Non-current liabilities:
Finance lease obligation, non-current	13	18
Operating lease obligation, non-current	105
Total non-current liabilities	118	18
Commitments and contingencies (Note 11)
Shareholders’ equity:
Common shares, no par value; unlimited authorized; 12,006,874 and 11,956,874 shares issued and outstanding, as of December 31, 2019 and 2018, respectively
Paid-in capital	64,232	62,993
Accumulated other comprehensive income	2
Accumulated deficit	(56,617)	(45,968)
Total shareholders’ equity	7,617	17,025
Total liabilities and shareholders’ equity	$ 9,053	$ 18,339

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Common shares, par value (in dollars per share)	$ 0	$ 0
Common shares, authorized	Unlimited	Unlimited
Common shares, issued (in shares)	12,006,874	11,956,874
Common shares, outstanding (in shares)	12,006,874	11,956,874

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Operating revenues:
License revenues		$ 500
Operating expenses:
Research and development	7,900	4,522
General and administrative	3,693	2,739
Total operating expenses	11,593	7,261
Operating loss	(11,593)	(6,761)
Other (income) expense:
Governmental assistance - research incentives	(856)	(1,214)
Other (income) expense, net	(119)	68
Change in fair value of warrant liability		39
Total other income, net	(975)	(1,107)
Loss before income tax expense	(10,618)	(5,654)
Income tax expense	31	80
Net loss	(10,649)	(5,734)
Other comprehensive income
Unrealized gain on marketable securities	(2)
Net loss and comprehensive loss	$ (10,647)	$ (5,734)
Basic and diluted net loss per share (in dollars per share)	$ (0.89)	$ (0.74)
Weighted average shares outstanding – basic and diluted (in shares)	11,987,696	7,743,520

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2017	6,370,661
Balance at Dec. 31, 2017		$ 41,033		$ (40,234)	$ 799
Issuance of common shares and warrants, net of offering costs of $529 (in shares)	1,322,965
Issuance of common shares and warrants, net of offering costs of $529		5,840			5,840
Issuance of common shares, net of offering costs of $1,674 (in shares)	4,100,000
Issuance of common shares, net of offering costs of $1,674		14,726			$ 14,726
Exercise of common share purchase warrants (in shares)	146,294				128,594
Exercise of common share purchase warrants		731			$ 731
Exercise of common stock options (in shares)	16,954				16,954
Exercise of common stock options		43			$ 43
Share-based compensation expense		620			620
Net loss				(5,734)	(5,734)
Unrealized gain on marketable securities
Balance (in shares) at Dec. 31, 2018	11,956,874
Balance at Dec. 31, 2018		62,993		(45,968)	17,025
Exercise of common stock options (in shares)	50,000
Exercise of common stock options		75			75
Share-based compensation expense		1,164			1,164
Net loss				(10,649)	(10,649)
Unrealized gain on marketable securities			2		2
Balance (in shares) at Dec. 31, 2019	12,006,874
Balance at Dec. 31, 2019		$ 64,232	$ 2	$ (56,617)	$ 7,617

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parentheticals) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Stock and Warrants Issuance 1 [Member]
Offering costs	$ 529
Stock Issuance [Member]
Offering costs	$ 1,674

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (10,649,000)	$ (5,734,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	1,164,000	620,000
Amortization of discount on marketable securities	(74,000)
Non-cash lease expense	49,000
Depreciation	21,000	15,000
Change in fair value of warrant liability		39,000
Changes in operating assets and liabilities:
Amounts receivable	(43,000)	(700,000)
Prepaid expenses	322,000	(308,000)
Deposits	183,000
Accounts payable	(301,000)	(30,000)
Accrued liabilities	226,000	402,000
Net cash used in operating activities	(9,102,000)	(5,696,000)
Cash flows from investing activities:
Purchase of marketable securities	(12,919,000)
Maturities of marketable securities	9,000,000
Disposition of property and equipment, net	13,000
Purchase of property and equipment	(2,000)	(50,000)
Net cash used in investing activities	(3,908,000)	(50,000)
Cash flows from financing activities:
Proceeds from exercise of stock options	75,000	43,000
Principal payments on finance lease obligations	(5,000)
Proceeds from issuance of common shares, net of offering costs		14,726,000
Proceeds from issuance of common shares and warrants, net offering costs		5,840,000
Proceeds from the exercise of common share purchase warrants		607,000
Net cash provided by financing activities	70,000	21,216,000
Net increase (decrease) in cash and cash equivalents	(12,940,000)	15,470,000
Cash and cash equivalents at beginning of period	16,823,000	1,353,000
Cash and cash equivalents at end of period	3,883,000	16,823,000
Supplemental disclosure of cash flow information:
Cash paid for income taxes	26,000	80,000
Cash paid for interest	2,000	11,000
Supplemental disclosure of non-cash transactions:
Reclassification of warrant liability upon warrant exercise		123,000
Assets acquired under capital lease		$ 24,000

Note 1 - Business

Note 1 - Business	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. Business DiaMedica Therapeutics Inc. and its wholly-owned subsidiaries, DiaMedica USA, Inc. and DiaMedica Australia Pty Ltd. (collectively “we,” “us,” “our,” “DiaMedica” and the “Company”), exist for the primary purpose of advancing the clinical and commercial development of a proprietary recombinant KLK1 December 7, 2018, Effective November 15, 2018, 1 20 No November 6, 2018

Note 2 - Risks and Uncertaintie

Note 2 - Risks and Uncertainties	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Risks and Uncertainties [Text Block]	2. Risks and Uncertainties DiaMedica operates in a highly regulated and competitive environment. The development, manufacturing and marketing of pharmaceutical products require approval from, and are subject to ongoing oversight by, the Food and Drug Administration (FDA) in the United States, the European Medicines Agency (EMA) in the European Union and comparable agencies in other countries. We are in the clinical stage of development of our initial product candidate, DM199, not not DM199 not three five DM199 DM199 As of December 31, 2019, $56.6 2000. December 31, 2019, $10.6 $9.1 2020 2019 December 31, 2019, $7.9 $7.5 $7.6 February 13, 2020, 2,125,000 $4.00 $8.5 $7.7 17 Our principal sources of cash have included net proceeds from the issuance of equity securities. See Note 12 17 no not We expect that we will need substantial additional capital to further our research and development activities, complete the required clinical trials, regulatory activities and otherwise develop our product candidate, DM199, may February 2020 2021. may no not

Note 3 - Summary of Significant

Note 3 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	3. Summary of Significant Accounting Policies Basis of consolidation The accompanying consolidated financial statements include the assets, liabilities and expenses of DiaMedica Therapeutics Inc., and our wholly-owned subsidiaries, DiaMedica USA, Inc. and DiaMedica Australia Pty Ltd. All significant intercompany transactions and balances have been eliminated in consolidation. Functional currency The United States dollar is our functional currency as it represents the economic effects of the underlying transactions, events and conditions and various other factors including the currency of historical and future expenditures and the currency in which funds from financing activities are mostly generated by the Company. A change in the functional currency occurs only when there is a material change in the underlying transactions, events and condition. A change in functional currency could result in material differences in the amounts recorded in the consolidated statement of loss and comprehensive loss for foreign exchange gains and losses. All amounts in the accompanying consolidated financial statements are in U.S. dollars unless otherwise indicated. Use of estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates. Cash and cash equivalents The Company considers all bank deposits, including money market funds, and other investments, purchased with an original maturity to the Company of three Concentration of credit risk Financial instruments that potentially expose the Company to concentration of credit risk consist primarily of cash, cash equivalents and marketable securities. The Company maintains its cash balances primarily with two not not Marketable securities The Company’s marketable securities typically consist of obligations of the United States government and its agencies and investment grade corporate obligations, which are classified as available-for-sale and included in current assets as they are intended to fund current operations. Securities are valued based on market prices for similar assets using third Available-for-sale securities are reviewed for possible impairment at least quarterly, or more frequently if circumstances arise that may not not no December 31, 2019. Fair value measurements Under the authoritative guidance for fair value measurements, fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The categorization of financial assets and financial liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three Level 1 Level 2 Level 3 As of December 31, 2019, 5, Marketable Securities Long-lived assets Property and equipment are stated at purchased cost less accumulated depreciation. Depreciation of property and equipment is computed using the straight-line method over their estimated useful lives of three ten four Long-lived assets are evaluated for impairment when events or changes in circumstances indicate that the carrying amount of the asset or related group of assets may not may Revenue recognition We followed ASC 606, We intend to enter into arrangements for the research and development (R&D) and/or manufacture of products and product candidates. Such arrangements may In arrangements involving more than one not The consideration allocated to each distinct performance obligation is recognized as revenue when control of the related goods or services is transferred. Consideration associated with at-risk substantive performance milestones is recognized as revenue when it is probable that a significant reversal of the cumulative revenue recognized will not Research and development costs Research and development costs include expenses incurred in the conduct of human clinical trials, for third DM199 DM199 We charge research and development costs, including clinical trial costs, to expense when incurred. Our human clinical trials are performed at clinical trial sites and are administered jointly by us with assistance from contract research organizations. Costs of setting up clinical trial sites are accrued upon execution of the study agreement. Expenses related to the performance of clinical trials are accrued based on estimates of work completed to date by CROs, outside contractors and clinical trial sites that manage and perform the trials, and those that manufacture the investigational product. We obtain initial estimates of total costs based on the trial protocol, extent of enrollment of subjects, trial duration, project management costs, manufacturing costs, patient treatment costs and other activities as required by the trial protocol. Additionally, actual costs may may Patent costs Costs associated with applying for, prosecuting and maintaining patents are expensed as incurred given the uncertainty of patent approval and, if approved, the resulting probable future economic benefit to the Company. Patent-related costs, consisting primarily of legal expenses and filing/maintenance fees, are included in research and development costs and were $87,000 $156,000 December 31, 2019 2018, Share-based compensation The cost of employee and non-employee services received in exchange for awards of equity instruments is measured and recognized based on the estimated grant date fair value of those awards. Compensation cost is recognized ratably using the straight-line attribution method over the vesting period, which is considered to be the requisite service period. We record forfeitures in the periods in which they occur. The fair value of share-based awards is estimated at the date of grant using the Black-Scholes option pricing model. The determination of the fair value of share-based awards is affected by our share price, as well as assumptions regarding a number of complex and subjective variables. Risk free interest rates are based upon United States Government bond rates appropriate for the expected term of each award. Expected volatility rates are based on the historical volatility over a term equal to the expected life of the option. The assumed dividend yield is zero, as we do not Warrants We account for common share purchase warrants as either equity instruments or as liabilities depending on the specific terms of the warrant agreements. Generally, warrants are classified as equity, as opposed to liabilities, as the agreements do not February 2018 10 Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted rates, for each of the jurisdictions in which the Company operates, expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount that is more likely than not December 31, 2019 2018. 16, Government assistance Government assistance relating to research and development performed by DiaMedica Australia Pty Ltd. is recorded as a component of Other (income) expense. Government assistance is recognized when the related expenditures are incurred. We recognized $856,000 $621,000 2019 2018, Net loss per share We compute net loss per share by dividing our net loss (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. Shares issued during the period and shares reacquired during the period, if any, are weighted for the portion of the period that they were outstanding. The computation of diluted earnings per share, or EPS, is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued. Our diluted EPS is the same as basic EPS due to the exclusion of common share equivalents as their effect would be anti-dilutive. The following table summarizes our calculation of net loss per common share for the periods presented (in thousands, except share and per share data): Year Ended December 31, 2019 2018 Net loss $ (10,649 ) $ (5,734 ) Weighted average shares outstanding—basic and diluted 11,987,696 7,743,520 Basic and diluted net loss per share $ (0.89 ) $ (0.74 ) The following outstanding potential common shares were not not Year Ended December 31, 2019 2018 Employee and non-employee stock options 1,220,359 639,359 Common shares issuable under common share purchase warrants 971,953 807,563 Common shares issuable under deferred unit plan 21,183 21,183 2,213,495 1,468,105 Recently adopted accounting pronouncements In May 2014, January 1, 2018. no no third 2018. 606, 13 In February 2016, No. 2016 02, Leases 2016 02 840, 2016 02 January 1, 2019. The FASB has subsequently issued the following amendments to ASU 2016 02, January 1, 2019, ● ASU No. 2018 01, Leases (Topic 842 842 not 842 842 not 840, ● ASU No. 2018 10, Codification Improvements to Topic 842, 2016 02. ● ASU No. 2018 11, Leases (Topic 842 2016 02 not ● ASU No. 2018 20, Narrow-Scope Improvements for Lessors 2016 02. We adopted the new leasing standards on January 1, 2019, January 1, 2019; not 842 not January 1, 2019. $205,000 In June 2018, No. 2018 07, December 15, 2018. January 1, 2019 not

Note 4 - Amounts Receivable

Note 4 - Amounts Receivable	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	4. Amounts Receivable Amounts receivable consisted of the following (in thousands): December 31, 201 9 December 31, 2018 Research and development incentives $ 793 $ 622 Sales-based taxes receivable 13 134 Other 17 24 Total amounts receivable $ 823 $ 780

Note 5 - Marketable Securities

Note 5 - Marketable Securities	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	5. Marketable Securities The available-for-sale marketable securities are primarily comprised of investments in commercial paper, corporate bonds and government securities and consist of the following, measured at fair value on a recurring basis: Fair Value Measurements as of December 3 1 , 2019 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper and corporate bonds $ 1,997 $ — $ 1,997 $ — Government securities 1,998 — 1,998 — Total marketable securities $ 3,995 $ — $ 3,995 $ — Accrued interest receivable on available-for-sale securities was $25,000 December 31, 2019 There were no 1 2 December 31, 2019. Under the terms of the Company’s investment policy, purchases of marketable securities are limited to investment grade governmental and corporate obligations with a primary objective of principal preservation. Maturities of individual securities are less than one December 31, 2019.

Note 6 - Deposits

Note 6 - Deposits	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Other Assets Disclosure [Text Block]	6. Deposits Deposits consisted of the following (in thousands): December 31, 201 9 December 31, 2018 Advances to vendors, current $ 88 $ — Advances to vendors, non-current $ — $ 271 We periodically advance funds to vendors engaged to support the performance of our clinical trials and related supporting activities. The funds advanced are held, interest free, for varying periods of time and may

Note 7 - Property and Equipment

Note 7 - Property and Equipment	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	7. Property and Equipment Property and equipment consisted of the following (in thousands): December 31, 201 9 December 31, 2018 Furniture and equipment $ 51 $ 49 Computer equipment 56 71 107 120 Less accumulated depreciation (43 ) (24 ) Property and equipment, net $ 64 $ 96 Depreciation expense for the years ended December 31, 2019 2018 $21,000 $15,000, 2019 2018, $14,000 $17,000

Note 8 - Accounts Payable and A

Note 8 - Accounts Payable and Accrued Liabilities	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	8. Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities consisted of the following (in thousands): December 31, 201 9 December 31, 2018 Trade and other payables $ 182 $ 483 Accrued clinical study costs 433 292 Accrued compensation 419 417 Accrued research and other professional fees 172 65 Accrued taxes and other liabilities 52 34 Total accrued liabilities $ 1,258 $ 1,291

Note 9 - Operating Lease

Note 9 - Operating Lease	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	9. Operating Lease We lease certain office space under a non-cancelable operating lease. This lease does not not August 31, 2022 not This lease does not 9%. Our operating lease cost and variable lease costs were $65,000 $54,000, December 31, 2019. Maturities of our operating lease obligation are as follows as of December 31, 2019 ( 2020 $ 66 2021 68 2022 46 Total lease payments $ 180 Less interest portion (21 ) Present value of lease obligation $ 159

Note 10 - Warrant Liability

Note 10 - Warrant Liability	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Warrant Liabilities [Text Block]	10. Warrant Liability In February 2016, 234,375 one one one 117,188 10,915 one CAD$5.00 February 2018. As the warrant exercise price was stated in Canadian dollars and not $281,000 $24,000 191.8 225.0%, 0.43 0.49%, 2 During February 2018, 121,256 $483,000 4,346 The fair values at the time of exercise of the warrants were estimated using the following valuation assumptions: expected volatilities of 16.7%, 1.8%, 0.01 0.03 The following is a rollforward of the fair value of the warrants (in thousands): Warrant Liability Ending balance December 31, 2017 $ 84 Change in fair value 39 Exercises (123 ) Ending balance December 31, 2018 $ —

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11. Commitments and Contingencies Clinical trials and product development In the normal course of business, the Company incurs obligations to make future payments as it executes its business plan. These contracts may may 30 December 31, 2019, $4.9 12 $0 12 On September 11, 2017, DM199 DM199 24 3 21 DM199 DM199’s 90 October 2019 92 On December 17, 2019, first 60 two two DM199 DM199 95 Additional clinical trials will be subsequently required if the results of Phase II are positive. However, at this time, we are unable to reasonably estimate the total costs of future trials. Such costs are contingent on and subject to change depending on the results of current and future clinical trials as well as developments in the regulatory requirements. Technology license The Company has entered into a license agreement with Catalent Pharma Solutions, LLC (Catalent) whereby we have licensed certain gene expression technology and we contract with Catalent for the manufacture of DM199. may December 31, 2019, two $185,000 first $185,000 first first 1% may 90 may not no 2019 2018. Litigation funding agreement On December 27, 2019, no may Under the terms of the litigation funding agreement, the Funder agreed to pay up to an aggregate of $1.0 $200,000 not not $10,000 $1.0 nine $2.0 nine $3.0 20% not 3½ 20% 3½ no Indemnification of directors and officers The Company, as permitted under laws of British Columbia and in accordance with the Company’s articles and indemnification agreements, will indemnify and advance expenses to its directors and officers to the fullest extent permitted by law and may December 31, 2019, no not may 1933, may not December 31, 2019 2018.

Note 12 - Shareholders' Equity

Note 12 - Shareholders' Equity	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	12. Shareholders’ Equity Authorized capital stock DiaMedica has authorized share capital of an unlimited number of common voting shares and the shares do not Common shareholders are entitled to receive dividends as declared by the Company, if any, and are entitled to one Shareholders rights plan The Company adopted a shareholder rights plan agreement (Rights Plan). The Rights Plan is designed to provide adequate time for the Board of Directors and the shareholders to assess an unsolicited takeover bid for the Company, to provide the Board of Directors with sufficient time to explore and develop alternatives for maximizing shareholder value if a takeover bid is made, and to provide shareholders with an equal opportunity to participate in a takeover bid and receive full and fair value for their common shares. The Rights Plan was renewed at the Company’s annual meeting of shareholders in December 2017 2020. The rights issued under the Rights Plan will initially attach to and trade with the common shares and no 20% 50% Under the Plan, a Permitted Bid is a bid made to all holders of the common shares and which is open for acceptance for not 60 60 50% may 10 The issuance of common shares upon the exercise of the rights is subject to receipt of certain regulatory approvals. Equity issued during the year ended December 31, 2019 During the year ended December 31, 2019, 50,000 $75,000 no Equity issued during the year ended December 31, 2018 Public offering during 2018 On December 11, 2018, 4,100,000 $4.00 $16.4 $14.7 None ten December 11, 2018, $50, 205,000 5.0% $4.80 120% five Private placements during 2018 On March 29, 2018, two 1,322,965 $4.90 $6.3 one one one 661,482 one $7.00 March 19, 2020 March 29, 2020 1 2, $12.00 21 $384,000 80,510 one $4.90 2 During the year ended December 31, 2018, 128,594 $607,000 16,954 $43,000. Shares reserved Common shares reserved for future issuance are as follows: December 31, 2019 Stock options outstanding 1,220,359 Deferred share units outstanding 21,183 Shares available for grant under the 2019 Omnibus Incentive Plan 1,384,822 Common shares issuable under common share purchase warrants 971,953 Total 3,598,317

Note 13 - Former License and Co

Note 13 - Former License and Collaboration Agreement With Related Party	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	13. Former License and Collaboration Agreement with Related Party On September 27, 2018, DM199 $500,000 $4.5 July 1, 2019. $27.5 10% DM199 120 On August 12, 2019, $4.5 DM199 Ahon Pharma is a subsidiary of Shanghai Fosun Pharmaceutical (Group) co. Ltd. (Fosun Pharma) which, through its partnership with SK Group, a South Korea based company, is an investor in DiaMedica, holding approximately 8.3% December 31, 2019. 2016.

Note 14 - Share-based Compensat

Note 14 - Share-based Compensation	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	14. Share-Based Compensation 2019 The DiaMedica Therapeutics Inc. 2019 2019 March 2019 May 22, 2019. 2019 2019 no ten one three five one 2019 2019 2,000,000 December 31, 2019, 615,178 2019 Stock option plan The DiaMedica Therapeutics Inc. Stock Option Plan, Amended and Restated November 6, 2018 ( 2019 2019 December 31, 2019, 605,181 Deferred share unit plan The DiaMedica Therapeutics Inc. Amended and Restated Deferred Share Unit Plan (DSU Plan) was terminated by the Board of Directors in conjunction with the shareholder approval of the 2019 December 31, 2019, 21,183 The aggregate number of common shares reserved for issuance for awards granted under the 2019 December 31, 2019 1,241,542. As the TSX Venture Exchange was the principal trading market for the Company’s common shares, all options granted prior to December 31, 2018 December 31, 2018 2019 Share-based compensation expense for each of the periods presented is as follows (in thousands): December 31, 201 9 December 31, 2018 Research and development $ 370 $ 170 General and administrative 794 450 Total share-based compensation $ 1,164 $ 620 We recognize share-based compensation based on the fair value of each award as estimated using the Black-Scholes option valuation model. Ultimately, the actual expense recognized over the vesting period will only be for those shares that actually vest. A summary of option activity is as follows (in thousands except share and per share amounts): Shares Underlying Options Weighted Average Exercise Price Per Share Aggregate Intrinsic Value Balances at December 31, 2017 480,035 $ 4.98 $ 508 Granted 196,800 8.55 Exercised (16,954 ) 2.54 Expired/cancelled — — Forfeited (20,522 ) 6.94 Balances at December 31, 2018 639,359 $ 6.07 $ — Granted 725,825 4.52 Exercised (50,000 ) 1.50 Expired/cancelled (7,353 ) 5.49 Forfeited (87,472 ) 5.22 Balances at December 31, 2019 1,220,359 $ 5.33 $ 678 A summary of the status of our unvested shares during the year ended and as of December 31, 2019 Shares Underlying Options Weighted Grant Date Fair Value Per Share Unvested at December 31, 2018 242,332 $ 5.75 Granted 725,825 3.21 Vested (301,938 ) 4.07 Forfeited (87,472 ) 3.94 Unvested at December 31, 2019 578,747 $ 3.73 Information about stock options outstanding, vested and expected to vest as of December 31, 2019, Outstanding, Vested and Expected to Vest Options Vested and Exercisable Per Share Exercise Price Shares Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Options Exercisable Weighted Average Remaining Contractual Life (Years) $2.00 - $2.99 132,900 6.0 $ 2.29 132,483 6.0 $3.00 - $3.99 120,822 7.0 3.90 120,822 7.0 $4.00 - $4.99 746,407 9.2 4.55 248,403 8.8 $5.00 - $10.00 170,080 8.4 8.33 89,755 8.4 $10.01 - $34.00 50,150 2.9 18.22 50,150 2.9 1,220,359 8.2 $ 5.33 641,613 7.3 The cumulative grant date fair value of employee options vested during the years ended December 31, 2019 2018 $918,000 $508,000, December 31, 2019 2018 $75,000 $43,000, As of December 31, 2019, not $2.1 2.3. The aggregate intrinsic value of stock options exercised during the years ended December 31, 2019 2018 $75,000 $104,000, The assumptions used in calculating the fair value under the Black-Scholes option valuation model are set forth in the following table for options issued by the Company for the years ended December 31, 2018 2017: 201 9 2018 Common share fair value $2.07 - $4.60 $6.82 - $7.20 Risk-free interest rate 1.5 – 2.4% 2.1 – 2.2% Expected dividend yield 0% 0% Expected option life 4.2 – 5.1 4.8 – 5.0 Expected stock price volatility 88.7 – 103.5% 123.5 – 135.7%

Note 15 - Employee Benefit Plan

Note 15 - Employee Benefit Plan	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	15. Employee Benefit Plan We maintain an employee 401 401 401 21 may 401 401 4% 401 We have recorded contribution expenses of $62,000 $45,000 December 31, 2019 2018,

Note 16 - Income Taxes

Note 16 - Income Taxes	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	16. Income Taxes The Company has incurred net operating losses since inception. The Company has not Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes as well as operating losses and tax credit carryforwards. The significant components of our deferred tax assets and liabilities are as follows (in thousands): December 31, 2019 2018 Deferred tax assets (liabilities): Non-capital losses carried forward $ 11,211 $ 9,280 Research and development expenditures 817 887 Share issue costs 395 529 Patents and other 294 293 Accruals 13 (97 ) Property and equipment 3 (6 ) Total deferred tax asset, net 12,733 10,886 Valuation allowance (12,733 ) (10,886 ) Net deferred tax asset $ — $ — Realization of the future tax benefits is dependent on our ability to generate sufficient taxable income within the carryforward period. Because of our history of operating losses, management believes that the deferred tax assets arising from the above-mentioned future tax benefits are currently not The reconciliation of the Canadian statutory income tax rate applied to the net loss for the year to the income tax expense is as follows: December 31, 2019 2018 Statutory income tax rate 27.0 % 27.0 % Income tax recovery based on statutory rate $ (2,841 ) $ (1,119 ) Share-based compensation 315 243 Gain on revaluation of warrant liability — (450 ) Australian research and development incentive 137 103 Other (9 ) 172 Change in valuation allowance 2,429 1,131 Income tax expense $ 31 $ 80 Net operating losses and tax credit carryforwards as of December 31, 2019, Amount (In thousands) Expiration Years Non-capital income tax losses, net $ 38,425 Beginning 2026 Research and development expense carry forwards 3,026 Indefinitely Tax credits 484 Beginning 2020 The Company is subject to taxation in the Canada, the United States and Australia. Tax returns, since the inception of DiaMedica Therapeutics Inc., are subject to examinations by Canadian tax authorities and may 2012 2016

Note 17 - Subsequent Events

Note 17 - Subsequent Events	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	17. Subsequent Event On February 13, 2020, 2,125,000 $4.00 $8.5 $7.7 None ten

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Basis of consolidation The accompanying consolidated financial statements include the assets, liabilities and expenses of DiaMedica Therapeutics Inc., and our wholly-owned subsidiaries, DiaMedica USA, Inc. and DiaMedica Australia Pty Ltd. All significant intercompany transactions and balances have been eliminated in consolidation.
Functional Currency [Policy Text Block]	Functional currency The United States dollar is our functional currency as it represents the economic effects of the underlying transactions, events and conditions and various other factors including the currency of historical and future expenditures and the currency in which funds from financing activities are mostly generated by the Company. A change in the functional currency occurs only when there is a material change in the underlying transactions, events and condition. A change in functional currency could result in material differences in the amounts recorded in the consolidated statement of loss and comprehensive loss for foreign exchange gains and losses. All amounts in the accompanying consolidated financial statements are in U.S. dollars unless otherwise indicated.
Use of Estimates, Policy [Policy Text Block]	Use of estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents The Company considers all bank deposits, including money market funds, and other investments, purchased with an original maturity to the Company of three
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of credit risk Financial instruments that potentially expose the Company to concentration of credit risk consist primarily of cash, cash equivalents and marketable securities. The Company maintains its cash balances primarily with two not not
Marketable Securities, Policy [Policy Text Block]	Marketable securities The Company’s marketable securities typically consist of obligations of the United States government and its agencies and investment grade corporate obligations, which are classified as available-for-sale and included in current assets as they are intended to fund current operations. Securities are valued based on market prices for similar assets using third Available-for-sale securities are reviewed for possible impairment at least quarterly, or more frequently if circumstances arise that may not not no December 31, 2019.
Fair Value Measurement, Policy [Policy Text Block]	Fair value measurements Under the authoritative guidance for fair value measurements, fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The categorization of financial assets and financial liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three Level 1 Level 2 Level 3 As of December 31, 2019, 5, Marketable Securities
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Long-lived assets Property and equipment are stated at purchased cost less accumulated depreciation. Depreciation of property and equipment is computed using the straight-line method over their estimated useful lives of three ten four Long-lived assets are evaluated for impairment when events or changes in circumstances indicate that the carrying amount of the asset or related group of assets may not may
Revenue [Policy Text Block]	Revenue recognition We followed ASC 606, We intend to enter into arrangements for the research and development (R&D) and/or manufacture of products and product candidates. Such arrangements may In arrangements involving more than one not The consideration allocated to each distinct performance obligation is recognized as revenue when control of the related goods or services is transferred. Consideration associated with at-risk substantive performance milestones is recognized as revenue when it is probable that a significant reversal of the cumulative revenue recognized will not
Research and Development Expense, Policy [Policy Text Block]	Research and development costs Research and development costs include expenses incurred in the conduct of human clinical trials, for third DM199 DM199 We charge research and development costs, including clinical trial costs, to expense when incurred. Our human clinical trials are performed at clinical trial sites and are administered jointly by us with assistance from contract research organizations. Costs of setting up clinical trial sites are accrued upon execution of the study agreement. Expenses related to the performance of clinical trials are accrued based on estimates of work completed to date by CROs, outside contractors and clinical trial sites that manage and perform the trials, and those that manufacture the investigational product. We obtain initial estimates of total costs based on the trial protocol, extent of enrollment of subjects, trial duration, project management costs, manufacturing costs, patient treatment costs and other activities as required by the trial protocol. Additionally, actual costs may may
Patent Costs [Policy Text Block]	Patent costs Costs associated with applying for, prosecuting and maintaining patents are expensed as incurred given the uncertainty of patent approval and, if approved, the resulting probable future economic benefit to the Company. Patent-related costs, consisting primarily of legal expenses and filing/maintenance fees, are included in research and development costs and were $87,000 $156,000 December 31, 2019 2018,
Compensation Related Costs, Policy [Policy Text Block]	Share-based compensation The cost of employee and non-employee services received in exchange for awards of equity instruments is measured and recognized based on the estimated grant date fair value of those awards. Compensation cost is recognized ratably using the straight-line attribution method over the vesting period, which is considered to be the requisite service period. We record forfeitures in the periods in which they occur. The fair value of share-based awards is estimated at the date of grant using the Black-Scholes option pricing model. The determination of the fair value of share-based awards is affected by our share price, as well as assumptions regarding a number of complex and subjective variables. Risk free interest rates are based upon United States Government bond rates appropriate for the expected term of each award. Expected volatility rates are based on the historical volatility over a term equal to the expected life of the option. The assumed dividend yield is zero, as we do not
Warrants, Policy [Policy Text Block]	Warrants We account for common share purchase warrants as either equity instruments or as liabilities depending on the specific terms of the warrant agreements. Generally, warrants are classified as equity, as opposed to liabilities, as the agreements do not February 2018 10
Income Tax, Policy [Policy Text Block]	Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted rates, for each of the jurisdictions in which the Company operates, expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount that is more likely than not December 31, 2019 2018. 16,
Government Assistance [Policy Text Block]	Government assistance Government assistance relating to research and development performed by DiaMedica Australia Pty Ltd. is recorded as a component of Other (income) expense. Government assistance is recognized when the related expenditures are incurred. We recognized $856,000 $621,000 2019 2018,
Earnings Per Share, Policy [Policy Text Block]	Net loss per share We compute net loss per share by dividing our net loss (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. Shares issued during the period and shares reacquired during the period, if any, are weighted for the portion of the period that they were outstanding. The computation of diluted earnings per share, or EPS, is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued. Our diluted EPS is the same as basic EPS due to the exclusion of common share equivalents as their effect would be anti-dilutive. The following table summarizes our calculation of net loss per common share for the periods presented (in thousands, except share and per share data): Year Ended December 31, 2019 2018 Net loss $ (10,649 ) $ (5,734 ) Weighted average shares outstanding—basic and diluted 11,987,696 7,743,520 Basic and diluted net loss per share $ (0.89 ) $ (0.74 ) The following outstanding potential common shares were not not Year Ended December 31, 2019 2018 Employee and non-employee stock options 1,220,359 639,359 Common shares issuable under common share purchase warrants 971,953 807,563 Common shares issuable under deferred unit plan 21,183 21,183 2,213,495 1,468,105
New Accounting Pronouncements, Policy [Policy Text Block]	Recently adopted accounting pronouncements In May 2014, January 1, 2018. no no third 2018. 606, 13 In February 2016, No. 2016 02, Leases 2016 02 840, 2016 02 January 1, 2019. The FASB has subsequently issued the following amendments to ASU 2016 02, January 1, 2019, ● ASU No. 2018 01, Leases (Topic 842 842 not 842 842 not 840, ● ASU No. 2018 10, Codification Improvements to Topic 842, 2016 02. ● ASU No. 2018 11, Leases (Topic 842 2016 02 not ● ASU No. 2018 20, Narrow-Scope Improvements for Lessors 2016 02. We adopted the new leasing standards on January 1, 2019, January 1, 2019; not 842 not January 1, 2019. $205,000 In June 2018, No. 2018 07, December 15, 2018. January 1, 2019 not

Note 3 - Summary of Significa_2

Note 3 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended December 31, 2019 2018 Net loss $ (10,649 ) $ (5,734 ) Weighted average shares outstanding—basic and diluted 11,987,696 7,743,520 Basic and diluted net loss per share $ (0.89 ) $ (0.74 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Year Ended December 31, 2019 2018 Employee and non-employee stock options 1,220,359 639,359 Common shares issuable under common share purchase warrants 971,953 807,563 Common shares issuable under deferred unit plan 21,183 21,183 2,213,495 1,468,105

Note 4 - Amounts Receivable (Ta

Note 4 - Amounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	December 31, 201 9 December 31, 2018 Research and development incentives $ 793 $ 622 Sales-based taxes receivable 13 134 Other 17 24 Total amounts receivable $ 823 $ 780

Note 5 - Marketable Securities

Note 5 - Marketable Securities (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Fair Value, Marketable Securities Measured on a Recurring Basis [Table Text Block]	Fair Value Measurements as of December 3 1 , 2019 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Commercial paper and corporate bonds $ 1,997 $ — $ 1,997 $ — Government securities 1,998 — 1,998 — Total marketable securities $ 3,995 $ — $ 3,995 $ —

Note 6 - Deposits (Tables)

Note 6 - Deposits (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	December 31, 201 9 December 31, 2018 Advances to vendors, current $ 88 $ — Advances to vendors, non-current $ — $ 271

Note 7 - Property and Equipme_2

Note 7 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, 201 9 December 31, 2018 Furniture and equipment $ 51 $ 49 Computer equipment 56 71 107 120 Less accumulated depreciation (43 ) (24 ) Property and equipment, net $ 64 $ 96

Note 8 - Accounts Payable and_2

Note 8 - Accounts Payable and Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, 201 9 December 31, 2018 Trade and other payables $ 182 $ 483 Accrued clinical study costs 433 292 Accrued compensation 419 417 Accrued research and other professional fees 172 65 Accrued taxes and other liabilities 52 34 Total accrued liabilities $ 1,258 $ 1,291

Note 9 - Operating Lease (Table

Note 9 - Operating Lease (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2020 $ 66 2021 68 2022 46 Total lease payments $ 180 Less interest portion (21 ) Present value of lease obligation $ 159

Note 10 - Warrant Liability (Ta

Note 10 - Warrant Liability (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Warrant Liability Ending balance December 31, 2017 $ 84 Change in fair value 39 Exercises (123 ) Ending balance December 31, 2018 $ —

Note 12 - Shareholders' Equity

Note 12 - Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Common Stock Reserved for Future Issuance [Table Text Block]	December 31, 2019 Stock options outstanding 1,220,359 Deferred share units outstanding 21,183 Shares available for grant under the 2019 Omnibus Incentive Plan 1,384,822 Common shares issuable under common share purchase warrants 971,953 Total 3,598,317

Note 14 - Share-based Compens_2

Note 14 - Share-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	December 31, 201 9 December 31, 2018 Research and development $ 370 $ 170 General and administrative 794 450 Total share-based compensation $ 1,164 $ 620
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Shares Underlying Options Weighted Average Exercise Price Per Share Aggregate Intrinsic Value Balances at December 31, 2017 480,035 $ 4.98 $ 508 Granted 196,800 8.55 Exercised (16,954 ) 2.54 Expired/cancelled — — Forfeited (20,522 ) 6.94 Balances at December 31, 2018 639,359 $ 6.07 $ — Granted 725,825 4.52 Exercised (50,000 ) 1.50 Expired/cancelled (7,353 ) 5.49 Forfeited (87,472 ) 5.22 Balances at December 31, 2019 1,220,359 $ 5.33 $ 678
Schedule of Nonvested Share Activity [Table Text Block]	Shares Underlying Options Weighted Grant Date Fair Value Per Share Unvested at December 31, 2018 242,332 $ 5.75 Granted 725,825 3.21 Vested (301,938 ) 4.07 Forfeited (87,472 ) 3.94 Unvested at December 31, 2019 578,747 $ 3.73
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]	Outstanding, Vested and Expected to Vest Options Vested and Exercisable Per Share Exercise Price Shares Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Options Exercisable Weighted Average Remaining Contractual Life (Years) $2.00 - $2.99 132,900 6.0 $ 2.29 132,483 6.0 $3.00 - $3.99 120,822 7.0 3.90 120,822 7.0 $4.00 - $4.99 746,407 9.2 4.55 248,403 8.8 $5.00 - $10.00 170,080 8.4 8.33 89,755 8.4 $10.01 - $34.00 50,150 2.9 18.22 50,150 2.9 1,220,359 8.2 $ 5.33 641,613 7.3
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	201 9 2018 Common share fair value $2.07 - $4.60 $6.82 - $7.20 Risk-free interest rate 1.5 – 2.4% 2.1 – 2.2% Expected dividend yield 0% 0% Expected option life 4.2 – 5.1 4.8 – 5.0 Expected stock price volatility 88.7 – 103.5% 123.5 – 135.7%

Note 16 - Income Taxes (Tables)

Note 16 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2019 2018 Deferred tax assets (liabilities): Non-capital losses carried forward $ 11,211 $ 9,280 Research and development expenditures 817 887 Share issue costs 395 529 Patents and other 294 293 Accruals 13 (97 ) Property and equipment 3 (6 ) Total deferred tax asset, net 12,733 10,886 Valuation allowance (12,733 ) (10,886 ) Net deferred tax asset $ — $ —
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	December 31, 2019 2018 Statutory income tax rate 27.0 % 27.0 % Income tax recovery based on statutory rate $ (2,841 ) $ (1,119 ) Share-based compensation 315 243 Gain on revaluation of warrant liability — (450 ) Australian research and development incentive 137 103 Other (9 ) 172 Change in valuation allowance 2,429 1,131 Income tax expense $ 31 $ 80
Summary of Operating Loss Carryforwards [Table Text Block]	Amount (In thousands) Expiration Years Non-capital income tax losses, net $ 38,425 Beginning 2026 Research and development expense carry forwards 3,026 Indefinitely Tax credits 484 Beginning 2020

Note 1 - Business (Details Text

Note 1 - Business (Details Textual)	Nov. 15, 2018
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20

Note 2 - Risks and Uncertaint_2

Note 2 - Risks and Uncertainties (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Feb. 13, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Retained Earnings (Accumulated Deficit), Ending Balance		$ (56,617)	$ (45,968)
Net Income (Loss) Attributable to Parent, Total		(10,649)	(5,734)
Net Cash Provided by (Used in) Operating Activities, Total		(9,102)	(5,696)
Cash, Cash Equivalents, and Short-term Investments, Total		7,900
Working Capital		7,500
Stockholders' Equity Attributable to Parent, Ending Balance		7,617	17,025	$ 799
Proceeds from Issuance of Common Stock			$ 14,726
Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues	2,125,000
Shares Issued, Price Per Share	$ 4
Proceeds from Issuance of Common Stock	$ 8,500
Proceeds from Issuance of Common Stock, Net	$ 7,700

Note 3 - Summary of Significa_3

Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Research Grant, Recognized, Research Activities Performed 2019	$ 856,000
Research Grant, Recognized, Research Activities Performed 2018		$ 621,000
Operating Lease, Liability, Total	159,000
Operating Lease, Right-of-Use Asset	153,000
Accounting Standards Update 2016-02 [Member]
Operating Lease, Liability, Total			$ 205,000
Operating Lease, Right-of-Use Asset			$ 205,000
Research and Development Expense [Member]
Patent Expense	$ 87,000	$ 156,000
Office Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Office Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	10 years
Computer Equipment [Member]
Property, Plant and Equipment, Useful Life	4 years

Note 3 - Summary of Significa_4

Note 3 - Summary of Significant Accounting Policies - Net Loss Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net loss	$ (10,649)	$ (5,734)
Weighted average shares outstanding—basic and diluted (in shares)	11,987,696	7,743,520
Basic and diluted net loss per share (in dollars per share)	$ (0.89)	$ (0.74)

Note 3 - Summary of Significa_5

Note 3 - Summary of Significant Accounting Policies - Antidilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Antidilutive securities (in shares)	2,213,495	1,468,105
Employee and Non-employee Stock Options [Member]
Antidilutive securities (in shares)	1,220,359	639,359
Common Stock Purchase Warrants [Member]
Antidilutive securities (in shares)	971,953	807,563
Deferred Share Units [Member]
Antidilutive securities (in shares)	21,183	21,183

Note 4 - Amounts Receivable - A

Note 4 - Amounts Receivable - Amounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Research and development incentives	$ 793	$ 622
Sales-based taxes receivable	13	134
Other	17	24
Total amounts receivable	$ 823	$ 780

Note 5 - Marketable Securitie_2

Note 5 - Marketable Securities (Details Textual)	Dec. 31, 2019USD ($)
Accrued Interest Receivable On Available For Sale Securities [Member]
Interest Receivable	$ 25,000

Note 5 - Marketable Securitie_3

Note 5 - Marketable Securities - Fair Value of Marketable Securities (Details) - Fair Value, Recurring [Member] $ in Thousands	Dec. 31, 2019USD ($)
Total marketable securities	$ 3,995
Fair Value, Inputs, Level 1 [Member]
Total marketable securities
Fair Value, Inputs, Level 2 [Member]
Total marketable securities	3,995
Fair Value, Inputs, Level 3 [Member]
Total marketable securities
Commercial Paper and Corporate Bonds [Member]
Total marketable securities	1,997
Commercial Paper and Corporate Bonds [Member] | Fair Value, Inputs, Level 1 [Member]
Total marketable securities
Commercial Paper and Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Total marketable securities	1,997
Commercial Paper and Corporate Bonds [Member] | Fair Value, Inputs, Level 3 [Member]
Total marketable securities
US Government Agencies Debt Securities [Member]
Total marketable securities	1,998
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Total marketable securities
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Total marketable securities	1,998
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Total marketable securities

Note 6 - Deposits - Deposits (D

Note 6 - Deposits - Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Advances to vendors, current	$ 88
Advances to vendors, non-current		$ 271

Note 7 - Property and Equipme_3

Note 7 - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Depreciation, Total	$ 21,000	$ 15,000
Property, Plant and Equipment, Disposals	$ 14,000	$ 17,000

Note 7 - Property and Equipme_4

Note 7 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, plant and equipment, gross	$ 107	$ 120
Less accumulated depreciation	(43)	(24)
Property and equipment, net	64	96
Furniture and Fixtures [Member]
Property, plant and equipment, gross	51	49
Computer Equipment [Member]
Property, plant and equipment, gross	$ 56	$ 71

Note 8 - Accounts Payable and_3

Note 8 - Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Trade and other payables	$ 182	$ 483
Accrued clinical study costs	433	292
Accrued compensation	419	417
Accrued research and other professional fees	172	65
Accrued taxes and other liabilities	52	34
Total accrued liabilities	$ 1,258	$ 1,291

Note 9 - Operating Lease (Detai

Note 9 - Operating Lease (Details Textual)	12 Months Ended
	Dec. 31, 2019USD ($)
Lessee, Operating Lease, Discount Rate	9.00%
Operating Lease, Cost	$ 65,000
Variable Lease, Cost	$ 54,000

Note 9 - Operating Lease - Matu

Note 9 - Operating Lease - Maturity of Operating Lease Liability (Details) $ in Thousands	Dec. 31, 2019USD ($)
2020	$ 66
2021	68
2022	46
Total lease payments	180
Less interest portion	(21)
Operating Lease, Liability, Total	$ 159

Note 10 - Warrant Liability (De

Note 10 - Warrant Liability (Details Textual)	Mar. 29, 2018$ / sharesshares	Feb. 29, 2016USD ($)	Feb. 28, 2018USD ($)shares	Feb. 29, 2016$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)	Feb. 29, 2016USD ($)shares
Proceeds from Warrant Exercises | $						$ 607,000
Warrants and Rights Outstanding | $							$ 84,000
Stock Issued During Period, Shares, Exercise of Common Stock Warrants						128,594
Warrants Issued in Private Placement [Member]
Class of Warrant or Right, Outstanding								117,188
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	1
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 7
Stock Issued During Period, Shares, Exercise of Common Stock Warrants					0
Compensation Warrants Issued In Connection With Private Placement [Member]
Class of Warrant or Right, Outstanding								10,915
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right								1
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares				$ 5
Proceeds from Warrant Exercises | $		$ 281,000	$ 483,000
Warrants and Rights Outstanding | $								$ 24,000
Stock Issued During Period, Shares, Exercise of Common Stock Warrants			121,256
Class of Warrant or Right, Warrants Expired During Period			4,346
Compensation Warrants Issued In Connection With Private Placement [Member] | Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input			0.167
Compensation Warrants Issued In Connection With Private Placement [Member] | Measurement Input, Price Volatility [Member] | Minimum [Member]
Warrants and Rights Outstanding, Measurement Input								1.918
Compensation Warrants Issued In Connection With Private Placement [Member] | Measurement Input, Price Volatility [Member] | Maximum [Member]
Warrants and Rights Outstanding, Measurement Input								2.25
Compensation Warrants Issued In Connection With Private Placement [Member] | Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input			0.018
Compensation Warrants Issued In Connection With Private Placement [Member] | Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]
Warrants and Rights Outstanding, Measurement Input								0.0043
Compensation Warrants Issued In Connection With Private Placement [Member] | Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]
Warrants and Rights Outstanding, Measurement Input								0.0049
Compensation Warrants Issued In Connection With Private Placement [Member] | Measurement Input, Expected Term [Member]
Warrants and Rights Outstanding, Measurement Input								2
Compensation Warrants Issued In Connection With Private Placement [Member] | Measurement Input, Expected Term [Member] | Minimum [Member]
Warrants and Rights Outstanding, Measurement Input			0.01
Compensation Warrants Issued In Connection With Private Placement [Member] | Measurement Input, Expected Term [Member] | Maximum [Member]
Warrants and Rights Outstanding, Measurement Input			0.03
Private Placement [Member]
Units Issued During Period, Units, New Issues	1,322,965			234,375
Units, Number of Common Shares Per Unit	1							1
Units, Number of Common Share Purchase Warrant Per Unit	0.5							0.5

Note 10 - Warrant Liability - R

Note 10 - Warrant Liability - Rollforward of Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Warrants		$ 84
Change in fair value		39
Exercises		(123)
Warrants

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Details Textual) - USD ($)	Dec. 27, 2019	Dec. 31, 2019	Dec. 31, 2018
Legalist Fund II, L.P. (Funder) [Member] | Lawsuit Against PRA Netherlands [Member] | Pending Litigation [Member]
Litigation Funding Agreement, Maximum Funds Received	$ 1,000,000
Litigation Settlement, Expense Previously Paid	200,000
Litigation Funding Agreement, Reimbursement for Diligence and Underwriting Costs	10,000
Litigation Funding Agreement, Amount to Repaid If Occurs Within Nine Months	1,000,000
Litigation Funding Agreement, Amount to Repaid If Occurs More Than Nine Months But Before Trial Start	2,000,000
Litigation Funding Agreement, Amount to Repaid If Occurs After Nine Months and Trial Start	$ 3,000,000
Litigation Funding Agreement, Repayment, Percentage of Claim Proceeds	20.00%
Litigation Funding Agreement, Period For Repayment Before Interest	3 years 182 days
Litigation Funding Agreement, Interest, Percentage Unpaid Amounts	20.00%
Research and Development Contracts [Member]
Contractual Obligation, Due in Next Fiscal Year		$ 4,900,000
Contractual Obligation, Due in Second Year		0
Technology License [Member]
Milestone Payment, Due Upon Initiation of Phase III Trial		185,000
Milestone Payment, Due Upon First Regulatory Approval for Commercial Sale		185,000
Contractual Obligation, Total		0	$ 0
Indemnification Agreements [Member]
Contractual Obligation, Total		$ 0	$ 0

Note 12 - Shareholders' Equit_2

Note 12 - Shareholders' Equity (Details Textual) - USD ($)	Dec. 11, 2018	Mar. 29, 2018	Feb. 29, 2016	Dec. 31, 2019	Dec. 31, 2018
Common Stock, No Par Value				$ 0	$ 0
Rights, Threshold Trigger to be Exercisable, Percent of Common Stock Outstanding Owned by Individual				20.00%
Rights, Exercisable, Percent of Discount to Market Price				50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					16,954
Stock Issued During Period, Value, Stock Options Exercised				$ 75,000	$ 43,000
Stock Issued During Period, Shares, Exercise of Common Stock Warrants					128,594
Proceeds from Issuance of Common Stock					$ 14,726,000
Proceeds from Warrant Exercises					607,000
Proceeds from Stock Options Exercised				$ 75,000	$ 43,000
Warrants Issued in Private Placement [Member]
Stock Issued During Period, Shares, Exercise of Common Stock Warrants				0
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 7
Class of Warrant or Right, Issued During Period		661,482
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		1
Warrants and Rights Outstanding, Expiration, Stock Price Trigger		$ 12
Warrants Issued With IPO [Member]
Warrants Issued, Cash Consideration	$ 50
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	205,000
Warrants and Rights Outstanding, Percent of Outstanding Common Stock Outstanding Called by Warrants	5.00%
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 4.80
Class of Warrants or Rights, Percent of IPO Price Per Share of Exercise Price of Warrants	120.00%
Warrants and Rights Outstanding, Term	5 years
Compensation Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 4.90
Warrants and Rights Outstanding, Term		2 years
Class of Warrant or Right, Issued During Period		80,510
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		1
Private Placement [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				50,000
Stock Issued During Period, Value, Stock Options Exercised				$ 75,000
Shares Issued, Price Per Share		$ 4.90
Units Issued During Period, Units, New Issues		1,322,965	234,375
Proceeds From Issuance of Units		$ 6,300,000
Units, Number of Common Shares Per Unit		1	1
Units, Number of Common Share Purchase Warrant Per Unit		0.5	0.5
Payment for Finders Fee		$ 384,000
IPO [Member]
Stock Issued During Period, Shares, New Issues	4,100,000
Shares Issued, Price Per Share	$ 4
Proceeds from Issuance of Common Stock	$ 16,400,000
Proceeds from Issuance of Common Stock, Net	$ 14,700,000

Note 12 - Shareholders' Equit_3

Note 12 - Shareholders' Equity - Shares Reserved (Details)	Dec. 31, 2019shares
Common stock reserved for future issuance (in shares)	3,598,317
Stock Options Outstanding [Member]
Common stock reserved for future issuance (in shares)	1,220,359
Deferred Share Units [Member]
Common stock reserved for future issuance (in shares)	21,183
The 2019 Omnibus Incentive Plan [Member]
Common stock reserved for future issuance (in shares)	1,384,822
Common Share Purchase Warrants [Member]
Common stock reserved for future issuance (in shares)	971,953

Note 13 - Former License and _2

Note 13 - Former License and Collaboration Agreement With Related Party (Details Textual) - USD ($)	Sep. 27, 2018	Dec. 31, 2019	Aug. 12, 2019
SK Group [Member] | DiaMedica [Member]
Noncontrolling Interest, Ownership Percentage by Parent		8.30%
License Agreement [Member] | Ahon Pharma [Member]
Revenue from Related Parties	$ 500,000
Collaboration Agreement, Non-refundable Payment Payable Upon Regulatory Clearance	4,500,000		$ 4,500,000
Collaboration Agreement, Additional Payment Upon Development and Sales Milestone	$ 27,500,000
Collaboration Agreement, Percent of Royalties Upon Development and Sales Milestones	10.00%

Note 14 - Share-based Compens_3

Note 14 - Share-based Compensation (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Common Stock, Capital Shares Reserved for Future Issuance		3,598,317
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		$ 918,000	$ 508,000
Proceeds from Stock Options Exercised		75,000	43,000
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		$ 2,100,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition		2 years 109 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value		$ 75,000	$ 104,000
The 2019 Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance		615,178
The 2019 Omnibus Incentive Plan [Member] | Employee and Non-employee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
The 2019 Omnibus Incentive Plan [Member] | Employee and Non-employee Stock Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
The 2019 Omnibus Incentive Plan [Member] | Employee and Non-employee Stock Options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
The 2019 Omnibus Incentive Plan [Member] | Nonemployee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Stock Option Prior Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance		605,181
The 2012 DSU Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance		21,183
The 2019 Omnibus Incentive Plan, Stock Option Prior Plan, and the 2012 DSU Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance		1,241,542

Note 14 - Share-based Compens_4

Note 14 - Share-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Total share-based compensation	$ 1,164	$ 620
Research and Development Expense [Member]
Total share-based compensation	370	170
General and Administrative Expense [Member]
Total share-based compensation	$ 794	$ 450

Note 14 - Share-based Compens_5

Note 14 - Share-based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Granted (in shares)	725,825
Exercised (in shares)		(16,954)
Share-based Payment Arrangement, Option [Member]
Balance (in shares)	639,359	480,035
Balance, weighted average exercise price (in dollars per share)	$ 6.07	$ 4.98
Balance, aggregate intrinsic value	$ 678		$ 508
Granted (in shares)	725,825	196,800
Granted, weighted average exercise price (in dollars per share)	$ 4.52	$ 8.55
Exercised (in shares)	(50,000)	(16,954)
Exercised, weighted average exercise price (in dollars per share)	$ 1.50	$ 2.54
Expired/cancelled (in shares)	(7,353)
Expired / cancelled, weighted average exercise price (in dollars per share)	$ 5.49
Forfeited (in shares)	(87,472)	(20,522)
Forfeited, weighted average exercise price (in dollars per share)	$ 5.22	$ 6.94
Balance (in shares)	1,220,359	639,359
Balance, weighted average exercise price (in dollars per share)	$ 5.33	$ 6.07

Note 14 - Share-based Compens_6

Note 14 - Share-based Compensation - Unvested Shares (Details)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Unvested (in shares) | shares	242,332
Unvested, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 5.75
Granted (in shares) | shares	725,825
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 3.21
Vested (in shares) | shares	(301,938)
Vested, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 4.07
Forfeited (in shares) | shares	(87,472)
Forfeited, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 3.94
Unvested (in shares) | shares	578,747
Unvested, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 3.73

Note 14 - Share-based Compens_7

Note 14 - Share-based Compensation - Stock Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Outstanding, shares (in shares) | shares	1,220,359
Outstanding, weighted average remaining contractual life (Year)	8 years 73 days
Outstanding, weighted average exercise price (in dollars per share)	$ 5.33
Exercisable, shares (in shares) | shares	641,613
Exercisable, weighted average remaining contractual life (Year)	7 years 109 days
Exercise Price Range 1 [Member]
Per share exercise price, lower range (in dollars per share)	$ 2
Per share exercise price, upper range (in dollars per share)	$ 2.99
Outstanding, shares (in shares) | shares	132,900
Outstanding, weighted average remaining contractual life (Year)	6 years
Outstanding, weighted average exercise price (in dollars per share)	$ 2.29
Exercisable, shares (in shares) | shares	132,483
Exercisable, weighted average remaining contractual life (Year)	6 years
Exercise Price Range 2 [Member]
Per share exercise price, lower range (in dollars per share)	$ 3
Per share exercise price, upper range (in dollars per share)	$ 3.99
Outstanding, shares (in shares) | shares	120,822
Outstanding, weighted average remaining contractual life (Year)	7 years
Outstanding, weighted average exercise price (in dollars per share)	$ 3.90
Exercisable, shares (in shares) | shares	120,822
Exercisable, weighted average remaining contractual life (Year)	7 years
Exercise Price Range 3 [Member]
Per share exercise price, lower range (in dollars per share)	$ 4
Per share exercise price, upper range (in dollars per share)	$ 4.99
Outstanding, shares (in shares) | shares	746,407
Outstanding, weighted average remaining contractual life (Year)	9 years 73 days
Outstanding, weighted average exercise price (in dollars per share)	$ 4.55
Exercisable, shares (in shares) | shares	248,403
Exercisable, weighted average remaining contractual life (Year)	8 years 292 days
Exercise Price Range 4 [Member]
Per share exercise price, lower range (in dollars per share)	$ 5
Per share exercise price, upper range (in dollars per share)	$ 10
Outstanding, shares (in shares) | shares	170,080
Outstanding, weighted average remaining contractual life (Year)	8 years 146 days
Outstanding, weighted average exercise price (in dollars per share)	$ 8.33
Exercisable, shares (in shares) | shares	89,755
Exercisable, weighted average remaining contractual life (Year)	8 years 146 days
Exercise Price Range 5 [Member]
Per share exercise price, lower range (in dollars per share)	$ 10.01
Per share exercise price, upper range (in dollars per share)	$ 34
Outstanding, shares (in shares) | shares	50,150
Outstanding, weighted average remaining contractual life (Year)	2 years 328 days
Outstanding, weighted average exercise price (in dollars per share)	$ 18.22
Exercisable, shares (in shares) | shares	50,150
Exercisable, weighted average remaining contractual life (Year)	2 years 328 days

Note 14 - Share-based Compens_8

Note 14 - Share-based Compensation - Stock Option Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Risk-free interest rate
Expected dividend yield	0.00%	0.00%
Expected option life (Year)
Minimum [Member]
Common share fair value (in dollars per share)	$ 2.07	$ 6.82
Risk-free interest rate	1.50%	2.10%
Expected option life (Year)	4 years 73 days	4 years 292 days
Expected stock price volatility	88.70%	123.50%
Maximum [Member]
Common share fair value (in dollars per share)	$ 4.60	$ 7.20
Risk-free interest rate	2.40%	2.20%
Expected option life (Year)	5 years 36 days	5 years
Expected stock price volatility	103.50%	135.70%

Note 15 - Employee Benefit Pl_2

Note 15 - Employee Benefit Plan (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	4.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 62,000	$ 45,000

Note 16 - Income Taxes (Details

Note 16 - Income Taxes (Details Textual)	12 Months Ended
	Dec. 31, 2019
State and Local Jurisdiction [Member]
Open Tax Year	2012 2013 2014 2015 2016 2017 2018 2019
Foreign Tax Authority [Member] | Australian Taxation Office [Member]
Open Tax Year	2016 2017 2018 2019

Note 16 - Income Taxes - Deferr

Note 16 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Non-capital losses carried forward	$ 11,211	$ 9,280
Research and development expenditures	817	887
Share issue costs	395	529
Patents and other	294	293
Accruals	13
Accruals		(97)
Property and equipment	3
Property and equipment		(6)
Total deferred tax asset, net	12,733	10,886
Valuation allowance	(12,733)	(10,886)
Net deferred tax asset
Net deferred tax asset

Note 16 - Income Taxes - Reconc

Note 16 - Income Taxes - Reconciliation of Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Statutory income tax rate	27.00%	27.00%
Income tax recovery based on statutory rate	$ (2,841)	$ (1,119)
Share-based compensation	315	243
Gain on revaluation of warrant liability		(450)
Australian research and development incentive	137	103
Other	(9)	172
Change in valuation allowance	2,429	1,131
Income tax expense	$ 31	$ 80

Note 16 - Income Taxes - Net Op

Note 16 - Income Taxes - Net Operating Losses (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Non-capital Income Tax Losses, Net [Member]
Tax credits	$ 38,425
Tax credits, expiration years	Jan. 1, 2026
Research Tax Credit Carryforward [Member]
Tax credits	$ 3,026
Tax Credits [Member]
Tax credits	$ 484
Tax credits, expiration years	Jan. 1, 2020

Note 17 - Subsequent Events (De

Note 17 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Feb. 13, 2020	Dec. 31, 2019	Dec. 31, 2018
Proceeds from Issuance of Common Stock			$ 14,726
Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues	2,125,000
Shares Issued, Price Per Share	$ 4
Proceeds from Issuance of Common Stock	$ 8,500
Proceeds from Issuance of Common Stock, Net	$ 7,700