Atossa Therapeutics (ATOS) 10-Q 15 May 23 2023 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2023	May 10, 2023
Document Information [Line Items]
Entity Central Index Key	0001488039
Entity Registrant Name	ATOSSA THERAPEUTICS, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-35610
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-4753208
Entity Address, Address Line One	107 Spring Street
Entity Address, Postal Zip Code	98104
Entity Address, City or Town	Seattle
Entity Address, State or Province	WA
City Area Code	206
Local Phone Number	588-0256
Title of 12(b) Security	Common Stock, $0.18 par value
Trading Symbol	ATOS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		126,624,110

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 103,868	$ 110,890
Restricted cash	110	110
Prepaid expenses	5,295	4,031
Research and development tax rebate receivable	738	743
Other current assets	858	2,423
Total current assets	110,869	118,197
Investment in equity securities	4,700	4,700
Other assets	631	635
Total assets	116,200	123,532
Current liabilities
Accounts payable	1,444	2,965
Accrued expenses	613	1,059
Payroll liabilities	822	1,525
Other current liabilities	65	19
Total current liabilities	2,944	5,568
Total liabilities	2,944	5,568
Commitments and contingencies (Note 14)
Stockholders' equity
Series B convertible preferred stock - $0.001 par value; 10,000 shares authorized; 1 shares issued and outstanding as of March 31, 2023 and December 31, 2022	0	0
Common stock - $0.18 par value; 175,000 shares authorized; 126,624 shares issued and outstanding as of March 31, 2023 and December 31, 2022	22,792	22,792
Additional paid-in capital - common stock	252,357	250,784
Accumulated deficit	(162,475)	(156,194)
Total stockholders' equity	113,256	117,964
Total liabilities and stockholders' equity	116,200	123,532
Series B Preferred Stock [Member]
Stockholders' equity
Additional paid-in capital - Series B convertible preferred stock	$ 582	$ 582

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands	Mar. 31, 2023	Dec. 31, 2022
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	10,000	10,000
Preferred stock, issued (in shares)	1	1
Preferred stock, outstanding (in shares)	1	1
Common stock, par value (in dollars per share)	$ 0.18	$ 0.18
Common stock, authorized (in shares)	175,000	175,000
Common stock, issued (in shares)	126,624	126,624
Common stock, outstanding (in shares)	126,624	126,624

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating expenses
Research and development	$ 3,508	$ 1,499
General and administrative	3,590	3,248
Total operating expenses	7,098	4,747
Operating loss	(7,098)	(4,747)
Interest income	850	1
Other expense, net	(33)	(40)
Loss before income taxes	(6,281)	(4,786)
Income taxes	0	0
Net loss	$ (6,281)	$ (4,786)
Loss per share of common stock - basic and diluted (in dollars per share)	$ (0.05)	$ (0.04)
Weighted average shares outstanding - basic and diluted (in shares)	126,624	126,624

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Preferred Stock [Member] Series B Convertible Preferred Stock [Member]	Preferred Stock Additional Paid-in Capital [Member]	Common Stock [Member]	Common Stock, Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2021	1		126,624
Balance at Dec. 31, 2021	$ 0	$ 582	$ 22,792	$ 243,996	$ (129,234)	$ 138,136
Compensation cost for stock options granted	0	0	0	1,806	0	1,806
Net loss	$ 0	0	$ 0	0	(4,786)	(4,786)
Balance (in shares) at Mar. 31, 2022	1		126,624
Balance at Mar. 31, 2022	$ 0	582	$ 22,792	245,802	(134,020)	135,156
Balance (in shares) at Dec. 31, 2022	1		126,624
Balance at Dec. 31, 2022	$ 0	582	$ 22,792	250,784	(156,194)	117,964
Compensation cost for stock options granted	0	0	0	1,573	0	1,573
Net loss	$ 0	0	$ 0	0	(6,281)	(6,281)
Balance (in shares) at Mar. 31, 2023	1		126,624
Balance at Mar. 31, 2023	$ 0	$ 582	$ 22,792	$ 252,357	$ (162,475)	$ 113,256

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (6,281)	$ (4,786)
Adjustments to reconcile net loss to net cash used in operating activities
Compensation cost for stock options granted	1,573	1,806
Depreciation and amortization	3	2
Changes in operating assets and liabilities:
Prepaid expenses	(1,264)	(1,386)
Research and development tax rebate receivable	5	404
Other current assets	1,565	(114)
Other assets	1	0
Accounts payable	(1,521)	(121)
Accrued expenses	(446)	(84)
Payroll liabilities	(703)	(591)
Other current liabilities	46	(8)
Net cash used in operating activities	(7,022)	(4,878)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of furniture and equipment	0	(13)
Net cash used in investing activities	0	(13)
CASH FLOWS FROM FINANCING ACTIVITIES
Net cash provided by financing activities	0	0
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(7,022)	(4,891)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE	111,000	136,487
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE	103,978	131,596
SUPPLEMENTAL DISCLOSURES
Cash and cash equivalents	103,868	131,486
Restricted cash	110	110
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	$ 103,978	$ 131,596

Note 1 - Nature of Operations

Note 1 - Nature of Operations	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Nature of Operations [Text Block]	NOTE 1: Atossa Therapeutics, Inc. (the Company) was incorporated on April 30, 2009, December 31.

Note 2 - Liquidity and Capital

Note 2 - Liquidity and Capital Resources	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Liquidity and Capital Resources [Text Block]	NOTE 2: The Company has incurred net losses and negative operating cash flows since inception. For the three March 31, 2023, March 31, 2023, not one no may

Note 3 - Summary of Accounting

Note 3 - Summary of Accounting Policies	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	NOTE 3: Basis of Presentation The accompanying 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, 2022. not 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 March 31, 2023, not may December 31, 2023. Reclassification Interest income has been reclassified from prior period amounts to conform to the current year presentation. 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. Segments The Company operates as a single Cash and Cash Equivalents Cash and cash equivalents include unrestricted cash and all highly liquid instruments with maturities of three Investments in Equity Securities The Company currently has one not ASC 321 Equity The assumptions and estimates used to estimate the fair value of investments may not ● Unaudited financial statements; ● Projected technological developments; ● Current fundraising transactions; ● Current ability to raise additional financing when needed; ● Changes in the economic environment which may ● Timing of a deemed liquidation event occurring. Please also refer to Note 4. Fair Value Measurements The Company records financial assets and liabilities measured on a recurring and non-recurring basis, as well as all non-financial assets and liabilities subject to fair value measurement at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The accounting guidance establishes a hierarchy for inputs used in measuring fair value that minimizes the use of unobservable inputs by requiring the use of observable market data when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on active market data. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. The fair value hierarchy is broken down into the three ● Level 1 1 ● Level 2 2 ● Level 3 no Please also refer to Note 9. Research and Development Research and development (R&D) costs are generally expensed as incurred. R&D expenses include, for example, manufacturing expense for the Company's drugs under development, expenses associated with preclinical studies, clinical trials and associated salaries, bonuses, stock-based compensation and benefits. The Company has entered into various research and development contracts with research institutions, clinical research organizations, clinical manufacturing organizations and other companies. Payments for these activities are based on the terms of the individual agreements, which may may R&D expenses also include an allocation of the CEO's salary and related benefits including bonus and non-cash stock-based compensation expense based on an estimate of his total hours spent on R&D activities. The Company's CEO is involved in the development of the Company's drug candidates and oversight of the related clinical trial activity. Stock-based Payments The Company measures and recognizes compensation expense for all stock-based payment awards made to employees, officers, non-employee directors, and other key persons providing services to the Company, currently limited to stock options. Stock compensation expense is based on the estimated grant date fair value and is recognized as an expense over the requisite service period. The Company has made a policy election to recognize forfeitures when they occur. The fair value of each stock option grant is estimated using the Black-Scholes option-pricing model, which requires assumptions regarding the expected volatility of the stock options, the expected life of the options, an expectation regarding future dividends on the Company’s common stock, and estimation of an appropriate risk-free interest rate. The Company’s expected common stock price volatility assumption is based upon the historical volatility of its stock price. The Company has elected the simplified method for the expected life assumption for stock option grants, which averages the contractual term of the options of 10 years with the vesting term, typically one four not no Foreign Currency Translation and Transactions The majority of the Company's operations occur in entities that have the U.S. dollar as their functional currency. The one three March 31, 2023 March 31, 2022

Note 4 - Investment in Equity S

Note 4 - Investment in Equity Securities	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Investments in Non-marketable Equity Securities Disclosure [Text Block]	NOTE 4: On December 23, 2022, The Company considered qualitative impairment factors in determining if there were any signs of impairment of this investment on the balance sheet dates. Specifically, the Company considered the additional adverse changes in the general market condition of the industry in which DCT operates and continued concerns about the investee’s ability to continue as a going concern, due to negative cash flows from operations during the first 2023. March 31, 2023. not no March 31, 2023.

Note 5 - Restricted Cash

Note 5 - Restricted Cash	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Restricted Assets Disclosure [Text Block]	NOTE 5: The Company's restricted cash balance of $110 March 31, 2023 December 31, 2022,

Note 6 - Prepaid Expenses

Note 6 - Prepaid Expenses	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Prepaid Expenses [Text Block]	NOTE 6: Prepaid expenses consisted of the following: March 31, December 31, 2023 2022 Prepaid research and development $ 4,619 $ 3,480 Prepaid insurance 520 387 Professional services 138 130 Other 18 34 Total prepaid expenses $ 5,295 $ 4,031

Note 7 - Research and Developme

Note 7 - Research and Development Tax Rebate Receivable	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Research and Development Tax Rebate Receivable [Text Block]	NOTE 7: On May 23, 2017, $0.435 80% $0.485 four $2,028 20 During the three March 31, 2023 2022, three March 31, 2023. three March 31, 2022. March 31, 2023 December 31, 2022 three March 31, 2023 2022,

Note 8 - Payroll Liabilities

Note 8 - Payroll Liabilities	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	NOTE 8: Payroll liabilities consisted of the following: As of March 31, As of December 31, 2023 2022 Accrued bonuses $ 297 $ 1,060 Accrued vacation 278 224 Accrued payroll 247 241 Total payroll liabilities $ 822 $ 1,525

Note 9 - Fair Value of Financia

Note 9 - Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 9: The following tables present the Company’s fair value hierarchy for all its financial assets and liabilities, by major security type, measured at fair value on a recurring basis: March 31, 2023 Estimated Fair Value Level 1 Level 2 Level 3 Assets: Money market accounts $ 93,520 $ 93,520 $ - $ - December 31, 2022 Estimated Fair Value Level 1 Level 2 Level 3 Assets: Money market account $ 102,681 $ 102,681 $ - $ -

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Equity [Text Block]	NOTE 10: EQUITY The Company is authorized to issue a total of 185,000 shares of stock consisting of 175,000 shares of common stock, par value $0.18 per share, and 10,000 shares of preferred stock, par value $0.001 per share. The Company has designated 750 shares of Series A junior participating preferred stock, par value $0.001 per share, 4 shares of Series A convertible preferred stock, par value $0.001 per share, 25 shares of Series B convertible preferred stock, par value $0.001 and 20 shares of Series C convertible preferred stock, par value $0.001 per share, through the filings of certificates of designation with the Delaware Secretary of State. No shares of Series A junior participating preferred stock, Series A convertible preferred stock or Series C convertible preferred stock were outstanding as of March 31, 2023 December 31, 2022. On May 19, 2014, May 26, 2014 one 1 15% 2 Series B Convertible Preferred Stock Conversion. first not Fundamental Transactions. Dividends. Voting Rights. no Liquidation Preference . Redemption Rights. not not 2021 2020 The terms and conditions of the warrants are as follows: Exercisability 4 Cashless Exercise no not may Exercise Price one not may no Transferability may may Exchange Listing not Rights as Stockholder not Warrants Outstanding As of March 31, 2023, Outstanding Warrants to Purchase Shares Exercise Price Per Share Expiration Date December 2020 warrants 6,490 $ 1.00 December 11, 2024-June 21, 2025 January 2021 warrants 4,500 $ 1.055 July 8, 2025 March 2021 warrants 10,525 $ 2.88 September 22, 2025 21,515 Warrant Activity There were no three March 31, 2023 2022. Conversion of Convertible Preferred Stock During the three March 31, 2023 2022,

Note 11 - Net Loss Per Share

Note 11 - Net Loss Per Share	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 11: The Company follows the two two two Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding. In addition, in computing the dilutive effect of convertible securities, the numerator is adjusted to add back any convertible preferred dividends. Diluted net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares that would have been outstanding during the period assuming the issuance of common shares for all potential dilutive common shares outstanding. Potential common shares consist of potential future exercises of outstanding stock options and common stock warrants. Because the inclusion of potential common shares would be anti-dilutive for all periods presented, they have been excluded from the calculation. The Company’s common stock warrants and preferred stock contractually entitle the holders of such securities to participate in dividends but do not not not three March 31, 2023 2022. The following table summarizes the Company’s calculation of net loss per common share: Three Months Ended March 31, 2023 2022 Numerator Net loss attributable to common stockholders $ (6,281 ) $ (4,786 ) Denominator Weighted average common shares outstanding used to compute net loss per share, basic and diluted 126,624 126,624 Net loss per share of common stock, basic and diluted $ (0.05 ) $ (0.04 ) The following table sets forth the weighted average number of potential common shares excluded from the calculation of net loss per diluted share, because including them would be anti-dilutive: Three Months Ended March 31, 2023 2022 Options to purchase common stock 14,743 11,089 Series B convertible preferred stock 165 165 Warrants to purchase common stock 21,515 22,277 36,423 33,531

Note 12 - Income Taxes

Note 12 - Income Taxes	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 12: 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 income tax liabilities existed as of March 31, 2023 December 31, 2022

Note 13 - Concentration of Cred

Note 13 - Concentration of Credit Risk	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 13: Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of deposits of cash and cash and cash equivalents including those deposited in money market deposit accounts. Accounts at each institution that contain specified types of deposits are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250. March 31, 2023 December 31, 2022,

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 14: Lease Commitments The Company evaluates all contractual agreements at inception to determine if they contain a lease. Lease liabilities are measured at the present value of lease payments not 12 no The Company's operating lease consists of an office lease. On November 22, 2022, 12 January 1, 2023. three March 31, 2023 2022, Litigation and Contingencies The Company is subject to legal proceedings and claims that arise in the normal course of business. The Company believes that these matters are either without merit or of a kind that should not Contractual Obligations Contractual obligations represent future cash commitments and liabilities under agreements with third one one may March 31, 2023, 2024. March 31, 2023,

Note 15 - Stock Based Compensat

Note 15 - Stock Based Compensation	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	NOTE 15: On March 24, 2020, 2020 2020 No may 2020 10 2020 May 14, 2021, 2020 2020 March 31, 2023. On September 28, 2010, 2010 2010 2010 September 2020. may no The Company granted 2,461 and 2,722 options to purchase shares of common stock under the 2020 three March 31, 2023 2022, three March 31, 2023 2022 $.061 three March 31, 2023 2022. The fair value of stock options granted were calculated using the Black-Scholes option-pricing model applying the following assumptions: Three Months Ended March 31, 2023 2022 Risk-free interest rate 3.87% 4.25% 1.86% 2.53% Expected term (in years) 5.50 - 6.11 5.51 - 6.11 Dividend yield - - Expected volatility 103% 118% 117% 128% The Company recognized stock-based compensation expense, which was included under the following captions in the Condensed Consolidated Statements of Operations: Three Months Ended March 31, 2023 2022 General and administrative $ 1,054 $ 1,184 Research and development 519 622 Total stock-based compensation expense $ 1,573 $ 1,806 Options issued and outstanding as of March 31, 2023 three March 31,2023 Number of Underlying Shares Weighted-Average Exercise Price Per Share Weighted-Average Contractual Life Remaining in Years Aggregate Intrinsic Value Outstanding as of January 1, 2023 13,906 $ 2.35 - Granted 2,461 $ 0.72 Exercised - - Forfeited - - Expired (3 ) $ 793.83 Outstanding as of March 31, 2023 16,364 $ 1.95 7.93 $ 44 Exercisable as of March 31, 2023 11,227 $ 2.32 7.28 Vested and expected to vest 11,227 $ 1.95 7.93 $ 44 On March 31, 2023, March 31, 2023. Defined Contribution Plan The Company has a defined contribution plan to which employees of the Company may may three March 31, 2023 2022,

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying 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, 2022. not 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 March 31, 2023, not may December 31, 2023.
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassification Interest income has been reclassified from prior period amounts to conform to the current year presentation.
Use of Estimates, Policy [Policy Text Block]	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.
Segment Reporting, Policy [Policy Text Block]	Segments The Company operates as a single
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash and cash equivalents include unrestricted cash and all highly liquid instruments with maturities of three
Equity Securities without Readily Determinable Fair Value [Policy Text Block]	Investments in Equity Securities The Company currently has one not ASC 321 Equity The assumptions and estimates used to estimate the fair value of investments may not ● Unaudited financial statements; ● Projected technological developments; ● Current fundraising transactions; ● Current ability to raise additional financing when needed; ● Changes in the economic environment which may ● Timing of a deemed liquidation event occurring. Please also refer to Note 4.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements The Company records financial assets and liabilities measured on a recurring and non-recurring basis, as well as all non-financial assets and liabilities subject to fair value measurement at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The accounting guidance establishes a hierarchy for inputs used in measuring fair value that minimizes the use of unobservable inputs by requiring the use of observable market data when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on active market data. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. The fair value hierarchy is broken down into the three ● Level 1 1 ● Level 2 2 ● Level 3 no Please also refer to Note 9.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Research and development (R&D) costs are generally expensed as incurred. R&D expenses include, for example, manufacturing expense for the Company's drugs under development, expenses associated with preclinical studies, clinical trials and associated salaries, bonuses, stock-based compensation and benefits. The Company has entered into various research and development contracts with research institutions, clinical research organizations, clinical manufacturing organizations and other companies. Payments for these activities are based on the terms of the individual agreements, which may may R&D expenses also include an allocation of the CEO's salary and related benefits including bonus and non-cash stock-based compensation expense based on an estimate of his total hours spent on R&D activities. The Company's CEO is involved in the development of the Company's drug candidates and oversight of the related clinical trial activity.
Share-Based Payment Arrangement [Policy Text Block]	Stock-based Payments The Company measures and recognizes compensation expense for all stock-based payment awards made to employees, officers, non-employee directors, and other key persons providing services to the Company, currently limited to stock options. Stock compensation expense is based on the estimated grant date fair value and is recognized as an expense over the requisite service period. The Company has made a policy election to recognize forfeitures when they occur. The fair value of each stock option grant is estimated using the Black-Scholes option-pricing model, which requires assumptions regarding the expected volatility of the stock options, the expected life of the options, an expectation regarding future dividends on the Company’s common stock, and estimation of an appropriate risk-free interest rate. The Company’s expected common stock price volatility assumption is based upon the historical volatility of its stock price. The Company has elected the simplified method for the expected life assumption for stock option grants, which averages the contractual term of the options of 10 years with the vesting term, typically one four not no
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation and Transactions The majority of the Company's operations occur in entities that have the U.S. dollar as their functional currency. The one three March 31, 2023 March 31, 2022

Note 6 - Prepaid Expenses (Tabl

Note 6 - Prepaid Expenses (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	March 31, December 31, 2023 2022 Prepaid research and development $ 4,619 $ 3,480 Prepaid insurance 520 387 Professional services 138 130 Other 18 34 Total prepaid expenses $ 5,295 $ 4,031

Note 8 - Payroll Liabilities (T

Note 8 - Payroll Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	As of March 31, As of December 31, 2023 2022 Accrued bonuses $ 297 $ 1,060 Accrued vacation 278 224 Accrued payroll 247 241 Total payroll liabilities $ 822 $ 1,525

Note 9 - Fair Value of Financ_2

Note 9 - Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	March 31, 2023 Estimated Fair Value Level 1 Level 2 Level 3 Assets: Money market accounts $ 93,520 $ 93,520 $ - $ - December 31, 2022 Estimated Fair Value Level 1 Level 2 Level 3 Assets: Money market account $ 102,681 $ 102,681 $ - $ -

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Outstanding Warrants to Purchase Shares Exercise Price Per Share Expiration Date December 2020 warrants 6,490 $ 1.00 December 11, 2024-June 21, 2025 January 2021 warrants 4,500 $ 1.055 July 8, 2025 March 2021 warrants 10,525 $ 2.88 September 22, 2025 21,515

Note 11 - Net Loss Per Share (T

Note 11 - Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2023 2022 Numerator Net loss attributable to common stockholders $ (6,281 ) $ (4,786 ) Denominator Weighted average common shares outstanding used to compute net loss per share, basic and diluted 126,624 126,624 Net loss per share of common stock, basic and diluted $ (0.05 ) $ (0.04 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended March 31, 2023 2022 Options to purchase common stock 14,743 11,089 Series B convertible preferred stock 165 165 Warrants to purchase common stock 21,515 22,277 36,423 33,531

Note 15 - Stock Based Compens_2

Note 15 - Stock Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended March 31, 2023 2022 Risk-free interest rate 3.87% 4.25% 1.86% 2.53% Expected term (in years) 5.50 - 6.11 5.51 - 6.11 Dividend yield - - Expected volatility 103% 118% 117% 128%
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of Underlying Shares Weighted-Average Exercise Price Per Share Weighted-Average Contractual Life Remaining in Years Aggregate Intrinsic Value Outstanding as of January 1, 2023 13,906 $ 2.35 - Granted 2,461 $ 0.72 Exercised - - Forfeited - - Expired (3 ) $ 793.83 Outstanding as of March 31, 2023 16,364 $ 1.95 7.93 $ 44 Exercisable as of March 31, 2023 11,227 $ 2.32 7.28 Vested and expected to vest 11,227 $ 1.95 7.93 $ 44
Share-Based Payment Arrangement, Option [Member]
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended March 31, 2023 2022 General and administrative $ 1,054 $ 1,184 Research and development 519 622 Total stock-based compensation expense $ 1,573 $ 1,806

Note 2 - Liquidity and Capita_2

Note 2 - Liquidity and Capital Resources (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Net Income (Loss) Attributable to Parent	$ (6,281)	$ (4,786)
Net Cash Provided by (Used in) Operating Activities	(7,022)	(4,878)
Cash and Cash Equivalents, at Carrying Value	103,868	$ 131,486	$ 110,890
Working Capital (Deficit)	$ 107,925

Note 3 - Summary of Accountin_2

Note 3 - Summary of Accounting Policies (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)
Number of Operating Segments	1
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0%
Other Expense [Member]
Realized Gain (Loss), Foreign Currency Transaction, before Tax	$ 29	$ 28
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Vesting Term (Year)	4 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Vesting Term (Year)	1 year

Note 4 - Investment in Equity_2

Note 4 - Investment in Equity Securities (Details Textual) $ in Millions	Dec. 23, 2022 USD ($)
Dynamic Cell Therapies, Inc. [Member]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	19%
Dynamic Cell Therapies, Inc. [Member]
Payments to Acquire Equity Securities without Readily Determinable Fair Value	$ 4.7

Note 5 - Restricted Cash (Detai

Note 5 - Restricted Cash (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Restricted Cash and Cash Equivalents, Total	$ 110	$ 110	$ 110

Note 6 - Prepaid Expenses - Sch

Note 6 - Prepaid Expenses - Schedule of Prepaid Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Prepaid research and development	$ 4,619	$ 3,480
Prepaid insurance	520	387
Professional services	138	130
Other	18	34
Total prepaid expenses	$ 5,295	$ 4,031

Note 7 - Research and Develop_2

Note 7 - Research and Development Tax Rebate Receivable (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Research and Development Expense	$ 3,508	$ 1,499
Research and Development Tax Rebate Receivable	738		$ 743
Atossa Genetics AUS Pty Ltd [Member]
Research and Development Expense	52	354
Research and Development Cash Rebate	0	563
Research and Development Tax Rebate Receivable	738		$ 743
Research and Development Expense, Reduced Amount Due to Tax Rebate	$ 15	$ 140

Note 8 - Payroll Liabilities -

Note 8 - Payroll Liabilities - Schedule of Payroll Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accrued bonuses	$ 297	$ 1,060
Accrued vacation	278	224
Accrued payroll	247	241
Total payroll liabilities	$ 822	$ 1,525

Note 9 - Fair Value of Financ_3

Note 9 - Fair Value of Financial Instruments - Assets and Liabilities Measured on Recurring Basis (Details) - Money Market Funds [Member] - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Money market accounts	$ 93,520	$ 102,681
Fair Value, Inputs, Level 1 [Member]
Money market accounts	93,520	102,681
Fair Value, Inputs, Level 2 [Member]
Money market accounts	0	0
Fair Value, Inputs, Level 3 [Member]
Money market accounts	$ 0	$ 0

Note 10 - Stockholders' Equit_2

Note 10 - Stockholders' Equity (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	May 19, 2014
Number of Shares Authorized to Issue (in shares)	185,000,000
Common Stock, Shares Authorized (in shares)	175,000,000		175,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.18		$ 0.18
Preferred Stock, Shares Authorized (in shares)	10,000,000		10,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001		$ 0.001
Preferred Stock, Shares Issued (in shares)	1,000		1,000
Stockholder Rights Agreement, Number of Preferred Stock Right Distributed for Each Share of Common Stock (in shares)				1
Stockholder Rights Agreement, Acquiring Person, Percentage of Ownership				15%
Stockholder Rights Agreement, Acquiring Person, Additional Percentage of Ownership				2%
Stockholder Rights Agreement, Initial Exercise Price of Each Right (in dollars per share)				$ 15
Stockholder Rights Agreement, Share Price (in dollars per share)				$ 30
Consummate a Business Combination, Percentage of Acquired Outstanding Shares	50%
Consummate a Business Combination, Percentage of Aggregate Ordinary Voting Power	50%
Class of Warrant or Right, Outstanding (in shares)	21,515
Class of Warrant or Right, Exercised During Period (in shares)	0	0
Conversion of Series B Convertible Preferred Stock into Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)	0	0
The 2020 Liability Warrants [Member]
Warrants and Rights Outstanding, Term (Year)	4 years
Warrants Associated with 2020 Offering Consisting of Common Stock and Warrants [Member]
Warrants and Rights Outstanding, Term (Year)	4 years 6 months
The 2020 Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)	1
Warrants Exercisable, Ownership Percentage of Company’s Shares Allowed	4.99%
Common Stock, Convertible, Ownership Percentage of Company’s Shares Allowed	9.99%
Class of Warrant or Right, Outstanding (in shares)	6,490
Series A Junior Participating Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	750,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001
Preferred Stock, Shares Issued (in shares)	0		0
Series A Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	4,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001
Preferred Stock, Shares Issued (in shares)	0		0
Series B Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	25,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001
Preferred Stock, Convertible, Conversion Price (in dollars per share)	$ 3.52
Series C Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	20,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001
Preferred Stock, Shares Issued (in shares)	0		0
Stated Value per Share	$ 1,000
Preferred Stock, Convertible, Ownership Percentage of Company’s Shares Allowed	9.99%

Note 10 - Stockholders' Equit_3

Note 10 - Stockholders' Equity - Outstanding Warrants (Details)	Mar. 31, 2023 $ / shares shares
Outstanding Warrants to Purchase Shares (in shares)	21,515
The 2020 Warrants [Member]
Outstanding Warrants to Purchase Shares (in shares)	6,490
Exercise Price (in dollars per share) | $ / shares	$ 1
The January 2021 Warrants [Member]
Outstanding Warrants to Purchase Shares (in shares)	4,500
Exercise Price (in dollars per share) | $ / shares	$ 1.055
March 2021 Warrants [Member]
Outstanding Warrants to Purchase Shares (in shares)	10,525
Exercise Price (in dollars per share) | $ / shares	$ 2.88

Note 11 - Net Loss Per Share -

Note 11 - Net Loss Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net loss attributable to common stockholders	$ (6,281)	$ (4,786)
Weighted average common shares outstanding used to compute net loss per share, basic and diluted (in shares)	126,624	126,624
Net loss per share of common stock, basic and diluted (in dollars per share)	$ (0.05)	$ (0.04)

Note 11 - Net Loss Per Share _2

Note 11 - Net Loss Per Share - Schedule of Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Number of potential common shares excluded (in shares)	36,423	33,531
Share-Based Payment Arrangement, Option [Member]
Number of potential common shares excluded (in shares)	14,743	11,089
Series B Convertible Preferred Stock [Member]
Number of potential common shares excluded (in shares)	165	165
Warrant [Member]
Number of potential common shares excluded (in shares)	21,515	22,277

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Income Tax Expense (Benefit), Total	$ 0	$ 0	$ 0

Note 13 - Concentration of Cr_2

Note 13 - Concentration of Credit Risk (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Cash, Uninsured Amount	$ 103,712	$ 110,647

Note 14 - Commitments and Con_2

Note 14 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands		3 Months Ended
	Jan. 01, 2023	Mar. 31, 2023	Mar. 31, 2022
Lessee, Operating Lease, Monthly Rent Payments	$ 2
Operating Lease, Expense		$ 4	$ 8
Research and Development Arrangement [Member]
Unrecorded Unconditional Purchase Obligation, to be Paid, Remainder of Fiscal Year		1,146
Unrecorded Unconditional Purchase Obligation, to be Paid, Year One		13
Unrecorded Unconditional Purchase Obligation, Purchases Incurred		$ 111

Note 15 - Stock Based Compens_3

Note 15 - Stock Based Compensation (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
	May 14, 2021	Mar. 31, 2023	Mar. 31, 2022	Mar. 24, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		2,461
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)		0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares (in shares)		5,137
Defined Contribution Plan, Employer Matching Contribution, Percent of Match		6%
Defined Contribution Plan, Cost		$ 56	$ 34
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		$ 4,085
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		1 year 3 months 21 days
The 2020 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)				3,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)	15,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		2,461	2,722
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 0.061	$ 1.07
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)		0	0
The 2020 Stock Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		5,790

Note 15 - Stock Based Compens_4

Note 15 - Stock Based Compensation - Valuation Assumptions (Details) - Share-Based Payment Arrangement, Option [Member]	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Minimum [Member]
Risk-free interest rate	3.87%	1.86%
Expected term (in years) (Year)	5 years 6 months	5 years 6 months 3 days
Expected volatility	103%	117%
Maximum [Member]
Risk-free interest rate	4.25%	2.53%
Expected term (in years) (Year)	6 years 1 month 9 days	6 years 1 month 9 days
Expected volatility	118%	128%

Note 15 - Stock Based Compens_5

Note 15 - Stock Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock compensation expense	$ 1,573	$ 1,806
General and Administrative Expense [Member]
Stock compensation expense	1,054	1,184
Research and Development Expense [Member]
Stock compensation expense	$ 519	$ 622

Note 15 - Stock Based Compens_6

Note 15 - Stock Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Outstanding, shares (in shares)	13,906
Outstanding, weighted average exercise price per share (in dollars per share)	$ 2.35
Outstanding, aggregate intrinsic value	$ 44	$ 0
Granted (in shares)	2,461
Granted, weighted average exercise price per share (in dollars per share)	$ 0.72
Exercised (in shares)	0
Exercised, weighted average exercise price per share (in dollars per share)	$ 0
Forfeited (in shares)	0
Forfeited, weighted average exercise price per share (in dollars per share)	$ 0
Expired (in shares)	(3)
Expired, weighted average exercise price per share (in dollars per share)	$ 793.83
Outstanding, shares (in shares)	16,364
Outstanding, weighted average exercise price per share (in dollars per share)	$ 1.95
Outstanding, weighted average contractual life remaining in years (Year)	7 years 11 months 4 days
Exercisable, shares (in shares)	11,227
Exercisable, Weighted average exercise price per share (in dollars per share)	$ 2.32
Exercisable, weighted average contractual life remaining in years (Year)	7 years 3 months 10 days
Vested and expected to vest, shares (in shares)	11,227
Vested and expected to vest, Weighted average exercise price per share (in dollars per share)	$ 1.95
Vested and expected to vest, weighted average contractual life remaining in years (Year)	7 years 11 months 4 days
Vested and expected to vest, aggregate intrinsic value	$ 44