Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 11, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | ATOSSA GENETICS INC | |
Entity Central Index Key | 0001488039 | |
Trading Symbol | atos | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 9,130,984 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock ($0.18 par value) |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash and cash equivalents | $ 15,289,543 | $ 10,380,493 |
Restricted cash | 110,000 | 110,000 |
Prepaid expenses | 430,042 | 509,833 |
Research and development tax rebate receivable | 568,980 | 518,098 |
Other current assets | 2,064 | 30,942 |
Total current assets | 16,400,629 | 11,549,366 |
Furniture and equipment, net | 39,142 | 54,487 |
Intangible assets, net | 76,250 | 99,375 |
Right-of-use asset | 63,284 | |
Other assets | 17,218 | 17,218 |
Total Assets | 16,596,523 | 11,720,446 |
Current liabilities | ||
Accounts payable | 501,430 | 353,328 |
Accrued expenses | 225,472 | 177,074 |
Payroll liabilities | 769,727 | 935,070 |
Stock-based compensation liability | 1,410,025 | |
Lease liability | 49,266 | |
Other current liabilities | 18,415 | 39,939 |
Total current liabilities | 1,564,310 | 2,915,436 |
Long term liabilities | ||
Lease liability long term | 14,018 | |
Total Liabilities | 1,578,328 | 2,915,436 |
Commitments and contingencies (note 11) | ||
Stockholders' equity | ||
Preferred stock - $0.001 par value; 10,000,000 shares authorized; 671 and 2,379 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively | 1 | 2 |
Additional paid-in capital- Series B convertible preferred stock | 670,999 | 2,378,997 |
Common stock - $0.18 par value; 175,000,000 shares authorized, and 9,130,984 and 5,846,552 shares issued and outstanding, as of September 30, 2019 and December 31, 2018, respectively | 1,643,565 | 1,052,372 |
Additional paid-in capital | 104,156,643 | 82,204,902 |
Accumulated deficit | (91,453,013) | (76,831,263) |
Total Stockholders' Equity | 15,018,195 | 8,805,010 |
Total Liabilities and Stockholders' Equity | $ 16,596,523 | $ 11,720,446 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, issued (in shares) | 671 | 2,379 |
Preferred stock, outstanding (in shares) | 671 | 2,379 |
Common stock, par value (in dollars per share) | $ 0.18 | $ 0.18 |
Common stock, authorized (in shares) | 175,000,000 | 175,000,000 |
Common stock, issued (in shares) | 9,130,984 | 5,846,552 |
Common stock, outstanding (in shares) | 9,130,984 | 5,846,552 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Operating expenses | ||||
Research and development | $ 1,684,215 | $ 1,421,851 | $ 5,747,399 | $ 3,360,563 |
General and administrative | 1,613,983 | 1,888,119 | 8,901,197 | 5,966,504 |
Total operating expenses | 3,298,198 | 3,309,970 | 14,648,596 | 9,327,067 |
Operating loss | (3,298,198) | (3,309,970) | (14,648,596) | (9,327,067) |
Other income | 12,284 | 104 | 26,846 | 242 |
Loss before income taxes | (3,285,914) | (3,309,866) | (14,621,750) | (9,326,825) |
Income taxes | ||||
Net loss | (3,285,914) | (3,309,866) | (14,621,750) | (9,326,825) |
Deemed dividend attributable to preferred stock | (11,479,308) | |||
Net loss applicable to common shareholders | $ (3,285,914) | $ (3,309,866) | $ (14,621,750) | $ (20,806,133) |
Loss per common share - basic and diluted (in dollars per share) | $ (0.36) | $ (0.64) | $ (1.77) | $ (5.71) |
Weighted average shares outstanding - basic and diluted (in shares) | 9,130,057 | 5,183,492 | 8,283,302 | 3,645,682 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Preferred Stock Additional Paid-in Capital [Member]Series B Convertible Preferred Stock [Member] | Common Stock [Member] | Common Stock Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 2,651,952 | |||||
Balance at Dec. 31, 2017 | $ 477,342 | $ 71,887,674 | $ (65,426,329) | $ 6,938,687 | ||
Amortization of commitment shares | (19,852) | (19,852) | ||||
Compensation cost for stock options granted | 215,139 | 215,139 | ||||
Net loss | (1,874,382) | (1,874,382) | ||||
Balance (in shares) at Mar. 31, 2018 | 2,651,952 | |||||
Balance at Mar. 31, 2018 | $ 477,342 | 72,082,961 | (67,300,711) | 5,259,592 | ||
Balance (in shares) at Dec. 31, 2017 | 2,651,952 | |||||
Balance at Dec. 31, 2017 | $ 477,342 | 71,887,674 | (65,426,329) | 6,938,687 | ||
Amortization of commitment shares | (59,556) | |||||
Net loss | (9,326,825) | |||||
Balance (in shares) at Sep. 30, 2018 | 3,517 | 5,523,255 | ||||
Balance at Sep. 30, 2018 | $ 4 | 3,516,996 | $ 994,175 | 80,811,088 | (74,753,154) | 10,569,109 |
Balance (in shares) at Mar. 31, 2018 | 2,651,952 | |||||
Balance at Mar. 31, 2018 | $ 477,342 | 72,082,961 | (67,300,711) | 5,259,592 | ||
Amortization of commitment shares | (19,851) | (19,851) | ||||
Compensation cost for stock options granted | 179,050 | 179,050 | ||||
Net loss | (4,142,577) | (4,142,577) | ||||
Issuance of stock and warrants, net of issuance costs (in shares) | 13,624 | |||||
Issuance of Series B convertible preferred stock and warrants, net of issuance costs of $1,333,449 | $ 14 | 6,926,778 | 5,363,759 | 12,290,551 | ||
Allocation of Series B convertible preferred stock to beneficial conversion feature | (4,782,100) | 4,782,100 | ||||
Deemed dividend on Series B convertible preferred stock | 11,479,308 | (11,479,308) | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | (7,822) | |||||
Conversion of Series B convertible preferred stock to common stock | $ (8) | |||||
Conversion of Series B convertible preferred stock to common stock | (7,821,992) | $ 399,987 | 7,422,013 | |||
Conversion of Series B convertible preferred stock to common stock (in shares) | 2,222,147 | |||||
Balance (in shares) at Jun. 30, 2018 | 5,802 | 4,874,099 | ||||
Balance at Jun. 30, 2018 | $ 6 | 5,801,994 | $ 877,329 | 78,330,724 | (71,443,288) | 13,566,765 |
Amortization of commitment shares | (19,853) | (19,853) | ||||
Compensation cost for stock options granted | 332,063 | 332,063 | ||||
Net loss | (3,309,866) | (3,309,866) | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | (2,285) | |||||
Conversion of Series B convertible preferred stock to common stock | $ (2) | |||||
Conversion of Series B convertible preferred stock to common stock | (2,284,998) | $ 116,846 | 2,168,154 | |||
Conversion of Series B convertible preferred stock to common stock (in shares) | 649,156 | |||||
Balance (in shares) at Sep. 30, 2018 | 3,517 | 5,523,255 | ||||
Balance at Sep. 30, 2018 | $ 4 | 3,516,996 | $ 994,175 | 80,811,088 | (74,753,154) | 10,569,109 |
Balance (in shares) at Dec. 31, 2018 | 2,379 | 5,846,552 | ||||
Balance at Dec. 31, 2018 | $ 2 | 2,378,997 | $ 1,052,372 | 82,204,902 | (76,831,263) | 8,805,010 |
Compensation cost for stock options granted | 275,833 | 275,833 | ||||
Net loss | (4,073,307) | (4,073,307) | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | (1,677) | |||||
Conversion of Series B convertible preferred stock to common stock | $ (1) | |||||
Conversion of Series B convertible preferred stock to common stock | (1,676,998) | $ 85,753 | 1,591,246 | |||
Conversion of Series B convertible preferred stock to common stock (in shares) | 476,431 | |||||
Balance (in shares) at Mar. 31, 2019 | 702 | 9,122,171 | ||||
Balance at Mar. 31, 2019 | $ 1 | 701,999 | $ 1,641,979 | 98,056,781 | (80,904,570) | $ 19,496,190 |
Issuance of common stock upon warrant exercise (in shares) | 2,799,188 | 2,800,000 | ||||
Issuance of common stock upon warrant exercise | $ 503,854 | 10,832,856 | $ 11,336,710 | |||
Reclassification of stock-based compensation liability upon option cancellation | 3,151,944 | 3,151,944 | ||||
Balance (in shares) at Dec. 31, 2018 | 2,379 | 5,846,552 | ||||
Balance at Dec. 31, 2018 | $ 2 | 2,378,997 | $ 1,052,372 | 82,204,902 | (76,831,263) | 8,805,010 |
Amortization of commitment shares | ||||||
Net loss | (14,621,750) | |||||
Balance (in shares) at Sep. 30, 2019 | 671 | 9,130,984 | ||||
Balance at Sep. 30, 2019 | $ 1 | 670,999 | $ 1,643,565 | 104,156,643 | (91,453,013) | 15,018,195 |
Balance (in shares) at Mar. 31, 2019 | 702 | 9,122,171 | ||||
Balance at Mar. 31, 2019 | $ 1 | 701,999 | $ 1,641,979 | 98,056,781 | (80,904,570) | 19,496,190 |
Compensation cost for stock options granted | 5,318,796 | 5,318,796 | ||||
Net loss | (7,262,529) | (7,262,529) | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | (26) | |||||
Conversion of Series B convertible preferred stock to common stock | ||||||
Conversion of Series B convertible preferred stock to common stock | (26,000) | $ 1,330 | 24,670 | |||
Conversion of Series B convertible preferred stock to common stock (in shares) | 7,392 | |||||
Balance (in shares) at Jun. 30, 2019 | 676 | 9,129,563 | ||||
Balance at Jun. 30, 2019 | $ 1 | 675,999 | $ 1,643,309 | 103,400,247 | (88,167,099) | 17,552,457 |
Compensation cost for stock options granted | 751,652 | 751,652 | ||||
Net loss | (3,285,914) | (3,285,914) | ||||
Conversion of Series B convertible preferred stock to common stock (in shares) | (5) | |||||
Conversion of Series B convertible preferred stock to common stock | ||||||
Conversion of Series B convertible preferred stock to common stock | (5,000) | $ 256 | 4,744 | |||
Conversion of Series B convertible preferred stock to common stock (in shares) | 1,421 | |||||
Balance (in shares) at Sep. 30, 2019 | 671 | 9,130,984 | ||||
Balance at Sep. 30, 2019 | $ 1 | $ 670,999 | $ 1,643,565 | $ 104,156,643 | $ (91,453,013) | $ 15,018,195 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) | 3 Months Ended |
Jun. 30, 2018USD ($) | |
Issuance of Series B convertible preferred stock and warrants, issuance costs | $ 1,333,449 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net loss | $ (3,309,866) | $ (14,621,750) | $ (9,326,825) |
Adjustments to reconcile net loss to net cash used in operating activities | |||
Compensation cost for stock options granted | 6,346,281 | 726,252 | |
Disposal of assets | 5,806 | ||
Depreciation and amortization | 40,289 | 28,690 | |
Change in fair value of stock-based compensation liability | 1,741,919 | 2,180,659 | |
Changes in operating assets and liabilities: | |||
Prepaid expenses | 79,791 | (39,387) | |
Research and development tax rebate receivable | (50,882) | (122,218) | |
Other assets | 28,878 | (114,353) | |
Accounts payable | 148,102 | 215,803 | |
Payroll liabilities | (165,343) | (78,717) | |
Accrued expenses | 48,398 | (38,432) | |
Other current liabilities | (21,524) | 50,543 | |
Net cash used in operating activities | (6,420,035) | (6,517,985) | |
CASH FLOWS FROM INVESTING ACTIVITY | |||
Purchase of furniture and equipment | (7,625) | (54,448) | |
Net cash used in investing activities | (7,625) | (54,448) | |
CASH FLOWS FROM FINANCING ACTIVITY | |||
Proceeds from issuance of Series B convertible preferred stock and warrants, net of issuance costs | 12,290,551 | ||
Proceeds from exercise of warrants | 11,336,710 | ||
Net cash provided by financing activities | 11,336,710 | 12,290,551 | |
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 4,909,050 | 5,718,118 | |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE | 10,490,493 | 7,272,469 | |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE | 12,990,587 | 15,399,543 | 12,990,587 |
SUPPLEMENTAL DISCLOSURES | |||
Cash and cash equivalents | 12,935,587 | 15,289,543 | 12,935,587 |
Restricted cash | 55,000 | 110,000 | 55,000 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE | 12,990,587 | 15,399,543 | 12,990,587 |
NONCASH INVESTING AND FINANCING ACTIVITIES | |||
Reclassification of stock-based liability awards to equity upon cancellation | 3,151,944 | ||
Amortization of commitment shares | $ 19,853 | $ 59,556 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1: Atossa Genetics Inc. (the “Company”) was incorporated on April 30, 2009 December 31. |
Note 2 - Liquidity and Capital
Note 2 - Liquidity and Capital Resources | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 2: The Company has incurred net losses and negative operating cash flows since inception. For the nine September 30, 2019, $14.6 $6.4 September 30, 2019, $15.3 $14.8 not 10 14 no may not Management’s plan to continue as a going concern includes obtaining additional capital resources. As the Company is currently not |
Note 3 - Summary of Accounting
Note 3 - Summary of Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 3: Basis of Presentation: The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not no 10 December 31, 2018. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three nine September 30, 2019, not may December 31, 2019. Use of Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Recently Adopted Accounting Pronouncements: In the first 2019, No. 2016 02, Lease Accounting 842 : (" 842 ") $101,000 not not 840. 2018 10 840. not not not not not not not 11, Commitments and Contingencies, On January 1, 2019, 2018 08, Not 958 not 958 not Recent Accounting Pronouncements: In August 2018, No. 2018 13, Fair Value Measurement (Topic 820 820, 3 December 15, 2019. not |
Note 4 - Prepaid Expenses
Note 4 - Prepaid Expenses | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Prepaid Expenses [Text Block] | NOTE 4: Prepaid expenses consisted of the following: September 30, December 31, 2019 2018 Prepaid insurance $ 49,982 $ 160,576 Prepaid research and development 210,796 218,090 Professional services 124,917 110,094 Financial exchange fees 10,500 - Prepaid rent 8,550 - Retainer and security deposits 14,218 16,718 Other 11,079 4,355 Total prepaid expenses $ 430,042 $ 509,833 |
Note 5 - Research and Developme
Note 5 - Research and Development Tax Rebate Receivable | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Research and Development Tax Rebate Receivable [Text Block] | NOTE 5: On May 23, 2017, 1 2 $0.435 three nine September 30, 2019 $449,000 $916,000 $148,000 $764,000, three nine September 30, 2018. $398,000 $333,000 nine September 30, 2019 2018, September 30, 2019, $569,000 $171,000 December 31, 2018. |
Note 6 - Payroll Liabilities
Note 6 - Payroll Liabilities | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | NOTE 6: Payroll liabilities consisted of the following: September 30, 2019 December 31, 2018 Accrued bonuses $ 526,890 $ 697,995 Accrued vacation 170,105 160,740 Accrued payroll 72,732 76,335 Total payroll liabilities $ 769,727 $ 935,070 |
Note 7 - Stockholders' Equity
Note 7 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 7: The Company is authorized to issue a total of 185,000,000 175,000,000 $0.18 10,000,000 $0.001 750,000 $0.001 4,000 $0.001 25,000 $0.001 No no September 30, 2019. 2018 On May 30, 2018, 13,624 13,624 3,869,216 one $4.05 “2018 $12.3 Warrants As of September 30, 2019, 1,070,028 $4.05 May 30, 2022. In March 2019, $11.3 2018 2.8 2.8 No three September 30, 2019. Conversion of Series B Convertible Preferred Stock During the three nine September 30, 2019, 5 1,708 1,421 485,244 284 |
Note 8 - Net Loss Per Share
Note 8 - Net Loss Per Share | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 8: The Company accounts for and discloses net loss per common share in accordance with ASC Topic 260, Earnings Per Share The following table summarizes the Company’s calculation of net loss per common share: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator Net loss $ (3,285,914 ) $ (3,309,866 ) $ (14,621,750 ) $ (9,326,825 ) Deemed dividend attributable to preferred stock - - - (11,479,308 ) Net loss attributable to common shareholders $ (3,285,914 ) $ (3,309,866 ) $ (14,621,750 ) $ (20,806,133 ) Denominator Weighted average common shares outstanding used to compute net loss per share, basic and diluted 9,130,057 5,183,492 8,283,302 3,645,682 Net loss per share of common stock, basic and diluted: $ (0.36 ) $ (0.64 ) $ (1.77 ) $ (5.71 ) The following table sets forth the number of weighted average potential common shares excluded from the calculation of net loss per diluted share for the three nine September 30, 2019 2018 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Options to purchase common stock 4,348,383 783,794 2,572,413 388,377 Series B convertible preferred stock 191,543 1,338,916 281,015 751,332 Warrants to purchase common stock 1,070,028 4,716,935 1,828,085 2,644,946 5,609,954 6,839,645 4,681,513 3,784,655 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 9: Deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not As a result of the Company’s cumulative losses, management has concluded that a full valuation allowance against the Company’s net deferred tax assets is appropriate. No September 30, 2019 December 31, 2018, |
Note 10 - Concentration of Cred
Note 10 - Concentration of Credit Risk | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 10: Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. September 30, 2019 December 31, 2018, $14,671,000 $10,052,000 |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 11: Lease Commitments As discussed in Note 3, No. 2016 02, Lease Accounting: 842 , January 1, 2019. January 1, 2019, 840, Leases 842, not Our operating lease assets consist of an office lease and a copier system lease. Our office lease expires in August 2020 October 2021. None three nine September 30, 2019, $14,700 $44,100 September 30, 2019, 1.2 12%. As of September 30, 2019, $15,000, $44,000 $12,000 2019, 2020 2021, September 30, 2019, $13,000 three nine September 30, 2019 $13,900 $42,700, Litigation and Contingencies We are subject to legal proceedings and claims that arise in the normal course of business. We believe these matters are either without merit or of a kind that should not |
Note 12 - Stock Based Compensat
Note 12 - Stock Based Compensation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 12: Stock Option and Incentive Plan On September 28, 2010, 2010 “2010 may 2010 September 2020. No may 2010 10 5,556 2010 May 18, 2016, 11,111 2010 May 9, 2018, 125,000 2010 April 12, 2018, 500,000 2010 May 16, 2019 3,600,000 The following table presents the automatic additions to the 2010 2010 January 1, Number of 2012 2,502 2013 2,871 2014 4,128 2015 5,463 2016 7,257 2017 12,623 2018 106,076 2019 233,862 Total additional shares 374,782 The Company did not three September 30, 2019 2018. 3,565,000 nine September 30, 2019 611,688 nine September 30, 2018, No three nine September 30, 2019 2018. 271,430 2010 September 30, 2019. Compensation costs associated with the Company’s stock options are recognized, based on the grant-date fair values of these options, over the requisite service period, or vesting period. Accordingly, the Company recognized stock-based compensation expense of $751,652 $6,346,281 three nine September 30, 2019, $332,063 $726,252 three nine September 30, 2018 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 General and administrative $ 510,398 $ 259,347 $ 4,136,727 $ 565,771 Research and development 241,254 72,716 2,209,554 160,481 Total stock compensation expense $ 751,652 $ 332,063 $ 6,346,281 $ 726,252 The fair value of the stock options granted for the nine September 30, 2019 2018 Period ended September 30, 2019 2018 Risk free interest rate 2.16%-2.20% 2.47%-2.71% Expected term 5.00-5.94 years 5.24-5.57 years Dividend yield - - Expected volatility 107%-126% 109%-126% Options issued and outstanding as of September 30, 2019, 2010 nine Number of Weighted- Weighted- Aggregate Outstanding as of January 1, 2019 783,383 $ 12.14 - $ - Granted 3,565,000 1.51 - 3,667,300 Forfeited - - - - Expired - - - - Outstanding as of September 30, 2019 4,348,383 3.43 9.29 $ 1,860,000 Exercisable as of September 30, 2019 3,208,302 3.91 9.30 $ 1,511,250 Vested and expected to vest 4,348,383 $ 3.43 9.29 $ 1,860,000 At September 30, 2019, 1,140,081 $2,396,633. .92 2018 On June 27, 2018, 2,300,000 700,000 2010 2010 January 13, 2019, The Liability Options were exercisable for shares of common stock at an exercise price of $2.38 ten not not The Liability Options were subject to vesting requirements. Twenty- five 50% two 25% January 13, 2019, January 13, 2019, 1,125,000 Compensation costs associated with the Liability Options were initially recognized, based on the grant-date fair values of these options, over the requisite or vesting period for time-based options or when it was probable the performance criteria were achieved for options that vest based on performance. Compensation cost was remeasured each period based on the market value of our underlying stock until award vesting or settlement. At the time of cancellation, the fair value of Liability Options at January 13, 2019, January 13, 2019 Risk free interest rate 2.53 % Expected term (in years) 4.50-5.00 Stock price $ 1.36 Dividend yield - Expected volatility 121.0-123.0 % As a result of the cancellation of these options in the first 2019, $1,741,919, three March 31, 2019 nine September 30, 2019: General and administrative $ 1,074,183 Research and development 667,736 Total stock compensation expense $ 1,741,919 Also on January 13, 2019, 2,300,000 800,000 “2019 2019 $1.36 not 2010 January 13, 2019, 2019 2010 2019 not 2010 2018 2019 not 2019 The above actions were unanimously approved by the disinterested members of the Board of Directors. The above actions were intended to eliminate the Company’s potential liability associated with the net cash exercise provision of the Liability Options, and to allow the stockholders of the Company the opportunity to vote on the Amended Plan, which includes shares issuable upon exercise of the 2019 May 16, 2019, 2019 Accounting Treatment Awards offered under a plan that are subject to shareholder approval are not may not 2019 2019 not 718. not no January 13, 2019, $1,741,919 2018 $3,151,944 May 16, 2019, 2019 2019 718 June 30, 2019. $4,959,277 second 2019 2019 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation: The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not no 10 December 31, 2018. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three nine September 30, 2019, not may December 31, 2019. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements: In the first 2019, No. 2016 02, Lease Accounting 842 : (" 842 ") $101,000 not not 840. 2018 10 840. not not not not not not not 11, Commitments and Contingencies, On January 1, 2019, 2018 08, Not 958 not 958 not Recent Accounting Pronouncements: In August 2018, No. 2018 13, Fair Value Measurement (Topic 820 820, 3 December 15, 2019. not |
Note 4 - Prepaid Expenses (Tabl
Note 4 - Prepaid Expenses (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | September 30, December 31, 2019 2018 Prepaid insurance $ 49,982 $ 160,576 Prepaid research and development 210,796 218,090 Professional services 124,917 110,094 Financial exchange fees 10,500 - Prepaid rent 8,550 - Retainer and security deposits 14,218 16,718 Other 11,079 4,355 Total prepaid expenses $ 430,042 $ 509,833 |
Note 6 - Payroll Liabilities (T
Note 6 - Payroll Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | September 30, 2019 December 31, 2018 Accrued bonuses $ 526,890 $ 697,995 Accrued vacation 170,105 160,740 Accrued payroll 72,732 76,335 Total payroll liabilities $ 769,727 $ 935,070 |
Note 8 - Net Loss Per Share (Ta
Note 8 - Net Loss Per Share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator Net loss $ (3,285,914 ) $ (3,309,866 ) $ (14,621,750 ) $ (9,326,825 ) Deemed dividend attributable to preferred stock - - - (11,479,308 ) Net loss attributable to common shareholders $ (3,285,914 ) $ (3,309,866 ) $ (14,621,750 ) $ (20,806,133 ) Denominator Weighted average common shares outstanding used to compute net loss per share, basic and diluted 9,130,057 5,183,492 8,283,302 3,645,682 Net loss per share of common stock, basic and diluted: $ (0.36 ) $ (0.64 ) $ (1.77 ) $ (5.71 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Options to purchase common stock 4,348,383 783,794 2,572,413 388,377 Series B convertible preferred stock 191,543 1,338,916 281,015 751,332 Warrants to purchase common stock 1,070,028 4,716,935 1,828,085 2,644,946 5,609,954 6,839,645 4,681,513 3,784,655 |
Note 12 - Stock Based Compens_2
Note 12 - Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | January 1, Number of 2012 2,502 2013 2,871 2014 4,128 2015 5,463 2016 7,257 2017 12,623 2018 106,076 2019 233,862 Total additional shares 374,782 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 General and administrative $ 510,398 $ 259,347 $ 4,136,727 $ 565,771 Research and development 241,254 72,716 2,209,554 160,481 Total stock compensation expense $ 751,652 $ 332,063 $ 6,346,281 $ 726,252 General and administrative $ 1,074,183 Research and development 667,736 Total stock compensation expense $ 1,741,919 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Period ended September 30, 2019 2018 Risk free interest rate 2.16%-2.20% 2.47%-2.71% Expected term 5.00-5.94 years 5.24-5.57 years Dividend yield - - Expected volatility 107%-126% 109%-126% January 13, 2019 Risk free interest rate 2.53 % Expected term (in years) 4.50-5.00 Stock price $ 1.36 Dividend yield - Expected volatility 121.0-123.0 % |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Weighted- Weighted- Aggregate Outstanding as of January 1, 2019 783,383 $ 12.14 - $ - Granted 3,565,000 1.51 - 3,667,300 Forfeited - - - - Expired - - - - Outstanding as of September 30, 2019 4,348,383 3.43 9.29 $ 1,860,000 Exercisable as of September 30, 2019 3,208,302 3.91 9.30 $ 1,511,250 Vested and expected to vest 4,348,383 $ 3.43 9.29 $ 1,860,000 |
Note 2 - Liquidity and Capita_2
Note 2 - Liquidity and Capital Resources (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Net Income (Loss) Attributable to Parent, Total | $ (3,285,914) | $ (7,262,529) | $ (4,073,307) | $ (3,309,866) | $ (4,142,577) | $ (1,874,382) | $ (14,621,750) | $ (9,326,825) | |
Net Cash Provided by (Used in) Operating Activities, Total | (6,420,035) | (6,517,985) | |||||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 15,289,543 | $ 12,935,587 | 15,289,543 | $ 12,935,587 | $ 10,380,493 | ||||
Working Capital | $ 14,800,000 | $ 14,800,000 |
Note 3 - Summary of Accountin_2
Note 3 - Summary of Accounting Policies (Details Textual) | Jan. 01, 2019USD ($) |
Operating Lease, Liability, Total | $ 101,000 |
Note 4 - Prepaid Expenses - Sch
Note 4 - Prepaid Expenses - Schedule of Prepaid Expenses (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Prepaid insurance | $ 49,982 | $ 160,576 |
Prepaid research and development | 210,796 | 218,090 |
Professional services | 124,917 | 110,094 |
Financial exchange fees | 10,500 | |
Prepaid rent | 8,550 | |
Retainer and security deposits | 14,218 | 16,718 |
Other | 11,079 | 4,355 |
Total prepaid expenses | $ 430,042 | $ 509,833 |
Note 5 - Research and Develop_2
Note 5 - Research and Development Tax Rebate Receivable (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | May 23, 2017 | |
Research and Development Expense, Total | $ 1,684,215 | $ 1,421,851 | $ 5,747,399 | $ 3,360,563 | ||
Increase (Decrease) in Research and Development Tax Rebate Receivable | 50,882 | 122,218 | ||||
Research and Development Tax Rebate Receivable | 568,980 | 568,980 | $ 518,098 | |||
Atossa Genetics AUS Pty Ltd [Member] | ||||||
Research and Development Cash Rebate per Dollar | $ 0.435 | |||||
Research and Development Expense, Total | 449,000 | $ 148,000 | 916,000 | 764,000 | ||
Increase (Decrease) in Research and Development Tax Rebate Receivable | 398,000 | $ 333,000 | ||||
Research and Development Tax Rebate Receivable | $ 569,000 | $ 569,000 | $ 171,000 |
Note 6 - Payroll Liabilities -
Note 6 - Payroll Liabilities - Schedule of Payroll Liabilities (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Accrued bonuses | $ 526,890 | $ 697,995 |
Accrued vacation | 170,105 | 160,740 |
Accrued payroll | 72,732 | 76,335 |
Total payroll liabilities | $ 769,727 | $ 935,070 |
Note 7 - Stockholders' Equity (
Note 7 - Stockholders' Equity (Details Textual) - USD ($) | May 30, 2018 | Mar. 31, 2019 | Sep. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 |
Number of Shares Authorized to Issue | 185,000,000 | 185,000,000 | |||||
Common Stock, Shares Authorized | 175,000,000 | 175,000,000 | 175,000,000 | ||||
Common Stock, Par or Stated Value Per Share | $ 0.18 | $ 0.18 | $ 0.18 | ||||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | 10,000,000 | ||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | ||||
Preferred Stock, Shares Issued, Total | 671 | 671 | 2,379 | ||||
Class of Warrant or Right, Outstanding | 1,070,028 | 1,070,028 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 4.05 | $ 4.05 | |||||
Proceeds from Warrant Exercises | $ 11,300,000 | $ 11,336,710 | |||||
Class of Warrant or Right, Exercised During Period | 0 | 2,800,000 | |||||
Stock Issued During Period, Shares, Warrant Exercised | 2,800,000 | ||||||
Conversion of Series B Convertible Preferred Stock into Common Stock [Member] | |||||||
Conversion of Stock, Shares Converted | 5 | 1,708 | |||||
Conversion of Stock, Shares Issued | 1,421 | 485,244 | |||||
Convertible Preferred Stock, Shares Issued upon Conversion | 284 | 284 | |||||
The 2018 Subscription Rights Offering [Member] | |||||||
Number of Units Sold | 13,624 | ||||||
Proceeds from Issuance of Stock units | $ 12,300,000 | ||||||
The 2018 Subscription Rights Offering [Member] | The 2018 Warrants [Member] | |||||||
Class of Warrant or Right, Outstanding | 3,869,216 | ||||||
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 | $ 4.05 | ||||||
Series A Junior Participating Preferred Stock [Member] | |||||||
Preferred Stock, Shares Authorized | 750,000 | 750,000 | |||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||
Preferred Stock, Shares Issued, Total | 0 | 0 | |||||
Series A Convertible Preferred Stock [Member] | |||||||
Preferred Stock, Shares Authorized | 4,000 | 4,000 | |||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||
Series B Convertible Preferred Stock [Member] | |||||||
Preferred Stock, Shares Authorized | 25,000 | 25,000 | |||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||
Series B Convertible Preferred Stock [Member] | The 2018 Subscription Rights Offering [Member] | |||||||
Stock Issued During Period, Shares, New Issues | 13,624 | ||||||
Sale of Series A Convertible Preferred Stock [Member] | |||||||
Preferred Stock, Shares Issued, Total | 0 | 0 |
Note 8 - Net Loss Per Share - S
Note 8 - Net Loss Per Share - Schedule of Earnings Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net loss | $ (3,285,914) | $ (7,262,529) | $ (4,073,307) | $ (3,309,866) | $ (4,142,577) | $ (1,874,382) | $ (14,621,750) | $ (9,326,825) |
Deemed dividend attributable to preferred stock | (11,479,308) | |||||||
Net loss attributable to common shareholders | $ (3,285,914) | $ (3,309,866) | $ (14,621,750) | $ (20,806,133) | ||||
Weighted average common shares outstanding used to compute net loss per share, basic and diluted (in shares) | 9,130,057 | 5,183,492 | 8,283,302 | 3,645,682 | ||||
Net loss per share of common stock, basic and diluted: (in dollars per share) | $ (0.36) | $ (0.64) | $ (1.77) | $ (5.71) |
Note 8 - Net Loss Per Share -_2
Note 8 - Net Loss Per Share - Schedule of Antidilutive Securities (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Number of potential common shares excluded (in shares) | 5,609,954 | 6,839,645 | 4,681,513 | 3,784,655 |
Share-based Payment Arrangement, Option [Member] | ||||
Number of potential common shares excluded (in shares) | 4,348,383 | 783,794 | 2,572,413 | 388,377 |
Series B Convertible Preferred Stock [Member] | ||||
Number of potential common shares excluded (in shares) | 191,543 | 1,338,916 | 281,015 | 751,332 |
Warrant [Member] | ||||
Number of potential common shares excluded (in shares) | 1,070,028 | 4,716,935 | 1,828,085 | 2,644,946 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Accrued Income Taxes, Total | $ 0 | $ 0 |
Note 10 - Concentration of Cr_2
Note 10 - Concentration of Credit Risk (Details Textual) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Cash, Uninsured Amount | $ 14,671,000 | $ 10,052,000 |
Note 11 - Commitments and Con_2
Note 11 - Commitments and Contingencies (Details Textual) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019USD ($) | Sep. 30, 2019USD ($) | |
Operating Lease, Expense | $ 14,700 | $ 44,100 |
Operating Lease, Weighted Average Remaining Lease Term | 1 year 73 days | 1 year 73 days |
Operating Lease, Weighted Average Discount Rate, Percent | 12.00% | 12.00% |
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | $ 15,000 | $ 15,000 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 44,000 | 44,000 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 12,000 | 12,000 |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 13,000 | 13,000 |
Operating Lease, Payments | $ 13,900 | $ 42,700 |
Note 12 - Stock Based Compens_3
Note 12 - Stock Based Compensation (Details Textual) - USD ($) | May 16, 2019 | Jan. 13, 2019 | Jun. 27, 2018 | May 09, 2018 | Apr. 12, 2018 | May 18, 2016 | Sep. 28, 2010 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,565,000 | ||||||||||||
Share-based Payment Arrangement, Expense | $ 751,652 | $ 332,063 | $ 6,346,281 | $ 726,252 | |||||||||
Adjustments to Additional Paid in Capital, Transfer of Stock-based Compensation Liability Upon Option Cancellation | $ 3,151,944 | $ 3,151,944 | |||||||||||
Liability Options [Member] | |||||||||||||
Share-based Payment Arrangement, Expense | $ 1,741,919 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance | 1,125,000 | ||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 2.38 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||||
Liability Options [Member] | Share-based Payment Arrangement, Tranche One [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||||||||||||
Liability Options [Member] | Share-based Payment Arrangement, Tranche Two [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||
Liability Options [Member] | Share-based Payment Arrangement, Tranche Three [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||||||||||||
Liability Options [Member] | Chief Executive Officer [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,300,000 | ||||||||||||
Liability Options [Member] | Chief Financial Officer [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 700,000 | ||||||||||||
The 2019 Options [Member[ | |||||||||||||
Share-based Payment Arrangement, Expense | $ 4,959,277 | ||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 1.36 | ||||||||||||
The 2019 Options [Member[ | Chief Executive Officer [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,300,000 | ||||||||||||
The 2019 Options [Member[ | Chief Financial Officer [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 800,000 | ||||||||||||
The 2010 Stock Option and Incentive Plan [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Period for Granting Shares | 10 years | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 3,600,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,565,000 | 611,688 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 271,430 | 271,430 | |||||||||||
Share-based Payment Arrangement, Expense | $ 751,652 | $ 332,063 | $ 6,346,281 | $ 726,252 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance | 1,140,081 | 1,140,081 | |||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 1.51 | ||||||||||||
The 2010 Stock Option and Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,556 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 125,000 | 500,000 | 11,111 | ||||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 2,396,633 | $ 2,396,633 | |||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 335 days |
Note 12 - Stock Based Compens_4
Note 12 - Stock Based Compensation - Additional Shares Authorized (Details) - shares | 9 Months Ended | 12 Months Ended | 93 Months Ended | ||||||
Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2019 | |
The 2010 Stock Option and Incentive Plan [Member] | |||||||||
Total additional shares (in shares) | 233,862 | 106,076 | 12,623 | 7,257 | 5,463 | 4,128 | 2,871 | 2,502 | 374,782 |
Note 12 - Stock Based Compens_5
Note 12 - Stock Based Compensation - Stock-based Compensation Expense (Details) - USD ($) | Jan. 13, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 |
Stock compensation expense | $ 751,652 | $ 332,063 | $ 6,346,281 | $ 726,252 | |
Total stock compensation expense | 751,652 | 332,063 | 6,346,281 | 726,252 | |
Liability Options [Member] | |||||
Stock compensation expense | $ 1,741,919 | ||||
Total stock compensation expense | 1,741,919 | ||||
General and Administrative Expense [Member] | |||||
Stock compensation expense | 510,398 | 259,347 | 4,136,727 | 565,771 | |
Total stock compensation expense | 510,398 | 259,347 | 4,136,727 | 565,771 | |
General and Administrative Expense [Member] | Liability Options [Member] | |||||
Stock compensation expense | 1,074,183 | ||||
Total stock compensation expense | 1,074,183 | ||||
Research and Development Expense [Member] | |||||
Stock compensation expense | 241,254 | 72,716 | 2,209,554 | 160,481 | |
Total stock compensation expense | $ 241,254 | $ 72,716 | $ 2,209,554 | $ 160,481 | |
Research and Development Expense [Member] | Liability Options [Member] | |||||
Stock compensation expense | 667,736 | ||||
Total stock compensation expense | $ 667,736 |
Note 12 - Stock Based Compens_6
Note 12 - Stock Based Compensation - Valuation Assumptions (Details) - $ / shares | Jan. 13, 2019 | Sep. 30, 2019 | Sep. 30, 2018 |
Liability Options [Member] | |||
Risk free interest rate | 2.53% | ||
Stock price (in dollars per share) | $ 1.36 | ||
Liability Options [Member] | Minimum [Member] | |||
Expected term (Year) | 4 years 182 days | ||
Expected volatility | 121.00% | ||
Liability Options [Member] | Maximum [Member] | |||
Expected term (Year) | 5 years | ||
Expected volatility | 123.00% | ||
Share-based Payment Arrangement, Option [Member] | |||
Dividend yield | |||
Share-based Payment Arrangement, Option [Member] | Minimum [Member] | |||
Risk free interest rate | 2.16% | 2.47% | |
Expected term (Year) | 5 years | 5 years 87 days | |
Expected volatility | 107.00% | 109.00% | |
Share-based Payment Arrangement, Option [Member] | Maximum [Member] | |||
Risk free interest rate | 2.20% | 2.71% | |
Expected term (Year) | 5 years 343 days | 5 years 208 days | |
Expected volatility | 126.00% | 126.00% |
Note 12 - Stock Based Compens_7
Note 12 - Stock Based Compensation - Stock Option Activity (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Granted, shares (in shares) | 3,565,000 | |
Expired (in shares) | ||
Expired, weighted average exercise price per share (in dollars per share) | ||
The 2010 Stock Option and Incentive Plan [Member] | ||
Outstanding, shares (in shares) | 783,383 | |
Outstanding, weighted average exercise price per share (in dollars per share) | $ 12.14 | |
Granted, shares (in shares) | 3,565,000 | 611,688 |
Granted, weighted average exercise price per share (in dollars per share) | $ 1.51 | |
Granted | $ 3,667,300 | |
Forfeited, shares (in shares) | ||
Forfeited, weighted average exercise price per share (in dollars per share) | ||
Outstanding, shares (in shares) | 4,348,383 | |
Outstanding, Weighted average exercise price per share (in dollars per share) | $ 3.43 | |
Outstanding, weighted average contractual life remaining in years (Year) | 9 years 105 days | |
Outstanding, aggreate instrinsic value | $ 1,860,000 | |
Exercisable, shares (in shares) | 3,208,302 | |
Exercisable, Weighted average exercise price per share (in dollars per share) | $ 3.91 | |
Exercisable, weighted average contractual life remaining in years (Year) | 9 years 109 days | |
Exercisable, aggreate instrinsic value | $ 1,511,250 | |
Vested and expected to vest, shares (in shares) | 4,348,383 | |
Vested and expected to vest, Weighted average exercise price per share (in dollars per share) | $ 3.43 | |
Vested and expected to vest, weighted average contractual life remaining in years (Year) | 9 years 105 days | |
Vested and expected to vest, aggreate instrinsic value | $ 1,860,000 |