Palvella Therapeutics (PVLA) 10-Q 10 Aug 23 2023 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 07, 2023
Document Information [Line Items]
Entity Central Index Key	0001583648
Entity Registrant Name	PIERIS PHARMACEUTICALS, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-37471
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	30-0784346
Entity Address, Address Line One	225 Franklin Street, 26th Floor
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02110
City Area Code	857
Local Phone Number	246-8998
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	PIRS
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		98,851,927

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 44,938	$ 38,635
Short term investments	9,937	20,534
Accounts receivable	952	5,810
Prepaid expenses and other current assets	10,645	8,445
Total current assets	66,472	73,424
Property and equipment, net	16,163	16,992
Operating lease right-of-use assets	3,816	3,705
Other non-current assets	1,093	1,369
Total assets	87,544	95,490
Current liabilities:
Accounts payable	7,604	4,154
Accrued expenses and other current liabilities	9,082	11,605
Deferred revenues, current portion	17,683	20,824
Total current liabilities	34,369	36,583
Deferred revenue, net of current portion	759	18,734
Operating lease liabilities	11,918	12,244
Other long term liabilities	0	0
Total liabilities	47,046	67,561
Stockholders’ equity:
Preferred stock	0	0
Common stock	99	74
Additional paid-in capital	340,164	318,530
Accumulated other comprehensive loss	(137)	(254)
Accumulated deficit	(299,628)	(290,421)
Total stockholders’ equity	40,498	27,929
Total liabilities and stockholders’ equity	$ 87,544	$ 95,490

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue
Customer revenue	$ 20,086	$ 3,468	$ 22,096	$ 14,647
Collaboration revenue	(31)	230	(105)	39
Total revenue	20,055	3,698	21,991	14,686
Operating expenses
Research and development	14,328	11,947	27,752	26,013
General and administrative	3,664	4,081	7,687	8,460
Total operating expenses	17,992	16,028	35,439	34,473
Income (loss) from operations	2,063	(12,330)	(13,448)	(19,787)
Other income (expense)
Interest income	490	132	847	129
Grant income	1,584	1,184	3,612	3,314
Other income (loss)	(161)	676	(218)	905
Net income (loss)	3,976	(10,338)	(9,207)	(15,439)
Other comprehensive income (loss):
Foreign currency translation	287	(499)	45	(356)
Unrealized gain on available-for-sale securities	2	171	72	152
Comprehensive income (loss)	$ 4,265	$ (10,666)	$ (9,090)	$ (15,643)
Net income (loss) per share
Basic (in dollars per share)	$ 0.05	$ (0.14)	$ (0.11)	$ (0.21)
Diluted (in dollars per share)	$ 0.05	$ (0.14)	$ (0.11)	$ (0.21)
Weighted average number of common shares outstanding
Basic (in shares)	87,639	74,125	81,115	73,919
Diluted (in shares)	87,826	74,125	81,115	73,919

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	At the Market Offering [Member] Preferred Stock [Member]	At the Market Offering [Member] Common Stock [Member]	At the Market Offering [Member] Receivables from Stockholder [Member]	At the Market Offering [Member] Additional Paid-in Capital [Member]	At the Market Offering [Member] AOCI Attributable to Parent [Member]	At the Market Offering [Member] Retained Earnings [Member]	At the Market Offering [Member]	Private Placement [Member] Preferred Stock [Member]	Private Placement [Member] Common Stock [Member]	Private Placement [Member] Receivables from Stockholder [Member]	Private Placement [Member] Additional Paid-in Capital [Member]	Private Placement [Member] AOCI Attributable to Parent [Member]	Private Placement [Member] Retained Earnings [Member]	Private Placement [Member]	Preferred Stock [Member]	Common Stock [Member]	Receivables from Stockholder [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2021															16	72,222
Balance at Dec. 31, 2021															$ 0	$ 72	$ 0	$ 306,998	$ 829	$ (257,144)	$ 50,755
Net loss															0	0	0	0	0	(15,439)	(15,439)
Foreign currency translation adjustment															0	0	0	0	(356)	0	(356)
Unrealized loss on investments															0	0	0	0	152	0	152
Stock based compensation expense															$ 0	$ 0	0	2,479	0	0	2,479
Issuance of common stock resulting from exercise of stock options (in shares)															0	46
Issuance of common stock resulting from exercise of stock options															$ 0	$ 0	0	95	0	0	95
Issuance of common stock resulting from purchase of employee stock purchase plan shares (in shares)															0	69
Issuance of common stock resulting from purchase of employee stock purchase plan shares															$ 0	$ 0	0	104	0	0	104
Issuance of common stock (in shares)	0	1,920
Issuance of common stock	$ 0	$ 2	$ 0	$ 6,573	$ 0	$ 0	$ 6,575
Net Income (Loss) Attributable to Parent															0	0	0	0	0	(15,439)	(15,439)
Unrealized gain on investments															$ 0	$ 0	0	0	152	0	152
Balance (in shares) at Jun. 30, 2022								16	74,257
Balance at Jun. 30, 2022								$ 0	$ 74	$ 0	$ 316,249	$ 625	$ (272,583)	$ 44,365
Balance (in shares) at Mar. 31, 2022															16	74,098
Balance at Mar. 31, 2022															$ 0	$ 74	0	314,668	953	(262,245)	53,450
Net loss															0	0	0	0	0	(10,338)	(10,338)
Foreign currency translation adjustment															0	0	0	0	(499)	0	(499)
Unrealized loss on investments															0	0	0	0	171	0	171
Stock based compensation expense															$ 0	$ 0	0	1,301	0	0	1,301
Issuance of common stock resulting from exercise of stock options (in shares)															0	3
Issuance of common stock resulting from exercise of stock options															$ 0	$ 0	0	10	0	0	10
Issuance of common stock resulting from purchase of employee stock purchase plan shares (in shares)															0	69
Issuance of common stock resulting from purchase of employee stock purchase plan shares															$ 0	$ 0	0	104	0	0	104
Issuance of common stock (in shares)	0	88
Issuance of common stock	$ 0	$ 0	0	166	0	0	166
Net Income (Loss) Attributable to Parent															0	0	0	0	0	(10,338)	(10,338)
Unrealized gain on investments															$ 0	$ 0	0	0	171	0	171
Balance (in shares) at Jun. 30, 2022								16	74,257
Balance at Jun. 30, 2022								$ 0	$ 74	$ 0	$ 316,249	$ 625	$ (272,583)	$ 44,365
Balance (in shares) at Dec. 31, 2022															16	74,519
Balance at Dec. 31, 2022															$ 0	$ 74	0	318,530	(254)	(290,421)	27,929
Net loss															0	0	0	0	0	(9,207)	(9,207)
Foreign currency translation adjustment															0	0	0	0	45	0	45
Unrealized loss on investments															0	0	0	0	72	0	72
Stock based compensation expense															$ 0	$ 0	0	1,932	0	0	1,932
Issuance of common stock resulting from purchase of employee stock purchase plan shares (in shares)															0	72
Issuance of common stock resulting from purchase of employee stock purchase plan shares															$ 0	$ 1	0	51	0	0	52
Issuance of common stock (in shares)	0	24,261
Issuance of common stock	$ 0	$ 24	0	19,651	0	0	19,675
Net Income (Loss) Attributable to Parent															0	0	0	0	0	(9,207)	(9,207)
Unrealized gain on investments															$ 0	$ 0	0	0	72	0	72
Balance (in shares) at Jun. 30, 2023															16	98,852
Balance at Jun. 30, 2023															$ 0	$ 99	0	340,164	(137)	(299,628)	40,498
Balance (in shares) at Mar. 31, 2023															16	74,519
Balance at Mar. 31, 2023															$ 0	$ 74	0	319,414	(426)	(303,604)	15,458
Net loss															0	0	0	0	0	3,976	3,976
Foreign currency translation adjustment															0	0	0	0	287	0	287
Unrealized loss on investments															0	0	0	0	2	0	2
Stock based compensation expense															$ 0	$ 0	0	1,048	0	0	1,048
Issuance of common stock resulting from purchase of employee stock purchase plan shares (in shares)															0	72
Issuance of common stock resulting from purchase of employee stock purchase plan shares															$ 0	$ 1	0	51	0	0	52
Issuance of common stock (in shares)	0	24,261
Issuance of common stock	$ 0	$ 24	$ 0	$ 19,651	$ 0	$ 0	$ 19,675
Net Income (Loss) Attributable to Parent															0	0	0	0	0	3,976	3,976
Unrealized gain on investments															$ 0	$ 0	0	0	2	0	2
Balance (in shares) at Jun. 30, 2023															16	98,852
Balance at Jun. 30, 2023															$ 0	$ 99	$ 0	$ 340,164	$ (137)	$ (299,628)	$ 40,498

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022
At the Market Offering [Member]
Stock issuance costs	$ 0.7	$ 0.7	$ 0.3

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities:
Net loss	$ (9,207)	$ (15,439)
Adjustments to reconcile net loss to net cash (used in) operating activities:
Depreciation and amortization	1,363	1,428
Right-of-use asset (accretion) amortization	(67)	(5)
Stock-based compensation	1,932	2,479
Realized investment (losses) gains	(53)	40
Other non-cash transactions	(110)	214
Changes in operating assets and liabilities	(18,285)	(26,938)
Net cash provided by (used in) operating activities	(24,427)	(38,221)
Investing activities:
Purchases of property and equipment	(115)	(1,018)
Proceeds from maturity of investments	18,895	4,850
Purchases of investments	(8,243)	(31,645)
Net cash (used in) investing activities	10,537	(27,813)
Financing activities:
Proceeds from exercise of stock options	0	95
Proceeds from employee stock purchase plan	52	104
Proceeds from issuance of common stock resulting from ATM sales, net of $0.7 million in transaction costs	19,729	6,640
Net cash provided by financing activities	19,781	6,839
Effect of exchange rate change on cash and cash equivalents	412	(4,312)
Net increase (decrease) in cash and cash equivalents	6,303	(63,507)
Cash and cash equivalents at beginning of period	38,635	117,764
Cash and cash equivalents at end of period	44,938	54,257
Supplemental cash flow disclosures:
Net unrealized gain on investments	72	152
Property and equipment included in accounts payable	$ 74	$ 15

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Stock issuance costs	$ 0.7	$ 0.7

Note 1 - Corporate Information

Note 1 - Corporate Information	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Corporate Information Pieris Pharmaceuticals, Inc. was founded in May 2013, 2001 December 2014. Pieris’ clinical pipeline includes an inhaled Anticalin protein targeting connective tissue growth factor to treat idiopathic pulmonary fibrosis, an immuno-oncology, or IO, bispecific targeting 4 1BB L1, 4 1BB CD228, The Company has historically been subject to risks common to companies in the biotechnology industry, including but not may third Strategic Update and Reduction in Force On July 18, 2023, one 2a 343 220 400. Also on July 18, 2023, third 2023. 10 Going Concern Uncertainties As of June 30, 2023 three June 30, 2023 2022 June 30, 2023 220 2a 400, 344/S095012 Further investments in these or other programs could be reevaluated in the future if the Company is successfully able to consummate strategic transactions or collaborations, licensing arrangements, or public or private equity financings. Furthermore, the Company expects to devote substantial time and resources to exploring strategic transactions that the board of directors believe will maximize stockholder value. Despite devoting significant efforts to identify and evaluate potential strategic transactions, there can be no not not no no may 12 10

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2—Summary 10 December 31, 2022 no six June 30, 2023 Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements included herein have been prepared by the Company in accordance with accounting principles generally accepted in the United States, or U.S. GAAP, for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments, consisting of normal recurring adjustments, and disclosures considered necessary for a fair presentation of interim period results have been included. Interim results for the three six June 30, 2023 not may December 31, 2023 10 December 31, 2022 March 31, 2023. Basis of Presentation and Use of Estimates The accompanying condensed consolidated financial statements of Pieris Pharmaceuticals, Inc. and its wholly-owned subsidiaries were prepared in accordance with U.S. GAAP. The condensed consolidated financial statements include the accounts of all subsidiaries. All intercompany balances and transactions have been eliminated. The preparation of the financial statements in accordance with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the related disclosures at the date of the financial statements and during the reporting period. Significant estimates are used for, but are not Cash, Cash Equivalents and Investments The Company determines the appropriate classification of its investments at the time of purchase. All liquid investments with original maturities of 90 320, Investments Debt and Equity Securities Available-for-sale investments are recorded at fair value, with unrealized gains or losses included in accumulated other comprehensive loss on the Company’s balance sheets. Realized gains and losses are determined using the specific identification method and are included as a component of other income. The Company reviews investments for other-than-temporary impairment whenever the fair value of an investment is less than the amortized cost and evidence indicates that an investment’s carrying amount is not not Concentration of Credit Risk and Off-Balance Sheet Risk The Company has no not not not Fair Value Measurement The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. FASB ASC Topic 820, Fair Value Measurement and Disclosures not one three • Level 1 • Level 2 not • Level 3 To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. Financial instruments measured at fair value on a recurring basis include cash equivalents and investments (see Note 5 An entity may not Property and Equipment Property and equipment are recorded at acquisition cost, less accumulated depreciation and impairment. Depreciation on property and equipment is calculated using the straight-line method over the remaining estimated useful lives of the assets. Maintenance and repairs to these assets are charged to expenses as occurred. The estimated useful life of the different groups of property and equipment is as follows: Asset Classification Estimated useful life (in years) Leasehold improvements shorter of useful life or remaining life of the lease Laboratory furniture and equipment 8 - 14 Office furniture and equipment 5 - 13 Computer and equipment 3 - 7 Revenue Recognition Pieris has entered into several licensing agreements with collaboration partners for the development of Anticalin therapeutics against a variety of targets. The terms of these agreements provide for the transfer of multiple goods or services which may may no Collaborative Arrangements The Company considers the nature and contractual terms of an arrangement and assesses whether the arrangement involves a joint operating activity pursuant to which it is an active participant and exposed to significant risks and rewards with respect to the arrangement. If the Company is an active participant and exposed to the significant risks and rewards with respect to the arrangement, it accounts for these arrangements pursuant to ASC 808, Collaborative Arrangements 808, not Revenue from Contracts with Customers In accordance with ASC 606, five 1 2 3 4 5 The Company evaluates all promised goods and services within a customer contract and determines which of such goods and services are separate performance obligations. This evaluation includes an assessment of whether the good or service is capable of being distinct and whether the good or service is separable from other promises in the contract. In assessing whether promised goods or services are distinct, the Company considers factors such as the stage of development of the underlying intellectual property and the capabilities of the customer to develop the intellectual property on their own or whether the required expertise is readily available. Licensing arrangements are analyzed to determine whether the promised goods or services, which often include licenses, research and development services and governance committee services, are distinct or whether they must be accounted for as part of a combined performance obligation. If the license is considered not Certain contracts contain optional and additional items, which are considered marketing offers and are accounted for as separate contracts with the customer if such option is elected by the customer, unless the option provides a material right which would not The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring goods and services to the customer. A contract may not If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price among the performance obligations on a relative standalone selling price basis unless a portion of the transaction price is variable and meets the criteria to be allocated entirely to a performance obligation or to a distinct good or service that forms part of a single performance obligation. The Company allocates the transaction price based on the estimated standalone selling price of the underlying performance obligations or, in the case of certain variable consideration, to one may one When a performance obligation is satisfied, revenue is recognized for the amount of the transaction price, excluding estimates of variable consideration that are constrained, that is allocated to that performance obligation on a relative standalone selling price basis. Significant management judgment is required in determining the level of effort required under an arrangement and the period over which the Company is expected to complete its performance obligations under an arrangement. For performance obligations consisting of licenses and other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from non-refundable, up-front fees. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company will recognize revenue from non-refundable, up-front fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. Revenue recognized under an arrangement involving a participant that is a customer is presented as Customer Revenue. Milestones and Royalties The Company aggregates milestones into four first There is uncertainty that the events to obtain the research and development milestones will be achieved given the nature of clinical development and the stage of the Company’s technology. The Company has thus determined that all research and development milestones will be constrained until it is deemed probable that a significant revenue reversal will not For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and for which the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Commercial milestones and sales royalties are determined by sales or usage-based thresholds and will be accounted for under the royalty recognition constraint as constrained variable consideration. The Company calculates the maximum amount of potential milestones achievable under each collaboration agreement and discloses such potential future milestones for all current collaborations using such a maximum calculation. Contract Balances The Company recognizes a contract asset when the Company transfers goods or services to a customer before the customer pays consideration or before payment is due, excluding any amounts presented as a receivable (i.e., accounts receivable). A contract asset is an entity’s right to consideration in exchange for goods or services that the entity has transferred to a customer. The contract liabilities (i.e., deferred revenue) primarily relate to contracts where the Company has received payment but has not In the event of an early termination of a collaboration agreement, any contract liabilities would be recognized in the period in which all Company obligations under the agreement have been fulfilled. Costs to Obtain and Fulfill a Contract with a Customer Certain costs to obtain customer contracts, including success-based fees paid to third 340, Other Assets and Deferred Costs 340. Government Grants The Company recognizes grants from governmental agencies when there is reasonable assurance that the Company will comply with the conditions attached to the grant arrangement and the grant will be received. The Company evaluates the conditions of each grant as of each reporting period to evaluate whether the Company has reached reasonable assurance of meeting the conditions of each grant arrangement and that it is expected that the grant will be received as a result of meeting the necessary conditions. Grants are recognized in the condensed consolidated statements of operations on a systematic basis over the periods in which the Company recognizes the related costs for which the government grant is intended to compensate. Specifically, grant income related to research and development costs is recognized as such expenses are incurred. Grant income is included as a separate caption within Other income (expense), net in the condensed consolidated statements of operations. Leases In accordance with ASU No. 2016 2, 842 842, The Company determines if an arrangement is a lease at inception. The Company’s contracts are determined to contain a lease within the scope of ASC 842 1 no 2 3 At the commencement date, operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of future lease payments over the expected lease term. The Company’s lease agreements do not may The Company typically only includes an initial lease term in its assessment of a lease agreement. Options to renew a lease are not not Assumptions made by the Company at the commencement date are re-evaluated upon occurrence of certain events, including a lease modification. A lease modification results in a separate contract when the modification grants the lessee an additional right of use not Income Taxes While the Company generated pretax income for the quarter ended June 30, 2023, six June 30, 2023 2023 Recent Accounting Pronouncements Adopted In June 2016, No. 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13. 2016 13 Subsequently, in November 2018, No. 2018 19, Codification Improvements to Topic 326, November 2019, No. 2019 11, Codification Improvements to Topic 326, 2016 13. November 2019 No. 2019 10, Financial Instruments-Credit Losses (Topic 326 815 842 2016 13 three 2016 13 December 15, 2022 January 1, 2023 The Company has considered other recent accounting pronouncements and concluded that they are either not not

Note 3 - Revenue

Note 3 - Revenue	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. Revenue General The Company has not The Company recognized revenue from the following strategic partnerships and other license agreements (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Seagen $ 3,486 $ 2,607 $ 4,909 $ 2,919 AstraZeneca 4,056 (130 ) 4,490 4,623 Servier (31 ) 230 (105 ) 4,964 Genentech 12,544 991 12,697 2,180 Total Revenue $ 20,055 $ 3,698 $ 21,991 $ 14,686 Under the Company’s existing strategic partnerships and other license agreements, the Company could receive the following potential milestone payments (in millions): Research, Development, Regulatory & Commercial Milestones Sales Milestones Seagen $ 759 $ 450 Servier 98 106 Boston Pharmaceuticals 88 265 Total potential milestone payments $ 945 $ 821 The above table is reflective of changes after certain subsequent events under the AstraZeneca and Servier collaborations as discussed below and should be considered to be current as of the date of the filing of this quarterly report, or August 10, 2023. Strategic Partnerships Genentech On May 19, 2021, Under the terms of the Genentech Agreement, the Company was responsible for discovery and preclinical development of two April May 2023, no $12.5 Genentech still has an option to select additional programs with the payment of a $10 million fee per additional program. If Genentech exercises its option to start additional programs, the Company would be eligible to receive additional milestone payments, as well as tiered royalty payments on net sales, subject to certain standard reductions and offsets. Genentech’s options to nominate two additional collaboration targets of their choosing is subject to the legal availability of the target to be researched. Boston Pharmaceuticals On April 24, 2021, 342/BOS 342, 4 1BB/GPC3 TM (antibody-Anticalin fusion) protein. Under the term of the BP Agreement, Boston Pharmaceuticals exclusively licensed worldwide right to PRS- 342/BOS 342. 342/BOS 342 The amounts allocated to the performance obligations did not 342/BOS 342. fourth 2021, one 2021 no Seagen On February 8, 2018, Under the terms of the Seagen Agreements, the companies agreed to pursue multiple antibody-Anticalin fusion proteins during the research phase. The Seagen Agreements provide Seagen a base option to select up to three programs for further development. Prior to the initiation of a pivotal trial, the Company may second may The Seagen Platform License grants Seagen a non-exclusive license to certain intellectual property related to the Anticalin platform technology. Upon signing the Seagen Agreements, Seagen paid the Company a $30.0 million upfront fee and an additional $4.9 million was estimated to be paid for research and development services as reimbursement to the Company through the end of the research term. In addition, the Company may The term of each of the Seagen Agreements ends upon the expiration of all of Seagen’s payment obligations under each such agreement. The Seagen Collaboration Agreement may may may may may may The Company determined that the Seagen Agreements should be combined and evaluated as a single arrangement under ASC 606 Management evaluated all of the promised goods or services within the contract and determined which such goods and services were separate performance obligations. The Company determined that the licenses granted, at arrangement inception, should be combined with the research and development services to be provided for the related antibody target programs as they are not third not not As a result, management concluded there were six separate performance obligations at the inception of the Seagen Agreements: (i) three combined performance obligations, each comprised of a non-exclusive platform technology license, a co-exclusive candidate research license, and research and development services for the first first second no The Company allocated consideration to the performance obligations based on the relative proportion of their standalone selling prices. The Company developed standalone selling prices for licenses by applying a risk adjusted, net present value, estimate of future potential cash flows approach, which included the cost of obtaining research and development services at arm’s length from a third The transaction price at inception is comprised of fixed consideration of $30.0 million in upfront fees and variable consideration of $4.9 million of estimated research and development services to be reimbursed as research and development occurs through the research term. The $30.0 million upfront fee, which represents the fixed consideration in the transaction price, was allocated to each of the performance obligations based on the relative proportion of their standalone selling prices. The $4.9 million in variable consideration related to the research and development services is allocated specifically to the three target program performance obligations based upon the budgeted services for each program. The amounts allocated to the performance obligations for the three research programs will be recognized on a proportional performance basis through the completion of each respective estimated research term of the individual research programs. The amounts allocated to the material right for the antibody target swap option will be recognized either at the time the material right expires or, if exercised, on a proportional performance basis over the estimated research term for that program. The amounts allocated to the participation on each of the committees will be recognized on a straight-line basis over the anticipated research term for all research programs. As of June 30, 2023 On March 24, 2021, HER2 HER2 2 August 2022 second Under the Second Seagen Amendment, Pieris’ option to co-develop and co-commercialize the second one 4 2 may 606 The Company has concluded that the Combination Study Agreement is within the scope of ASC 808, two 808 not may 730, Research and Development no Under the Seagen Agreements, the Company is eligible to receive other various research, development, commercial and sales milestones. There is uncertainty that the events to obtain the research and development milestones will be achieved given the nature of clinical development and the stage of the Company’s technology. With the exception of the previously discussed achieved milestone, the Company has determined that all other research and development milestones will be constrained until it is deemed probable that a significant revenue reversal will not In January 2023, first 606 no December 31, 2022 December 31, 2022. As of June 30, 2023 AstraZeneca On May 2, 2017, June 10, 2017, 1976. In addition to elarekibep (formerly known as PRS- 060/AZD1402 June 30, 2023, three first 2022, third second 2023. no third June 30, 2023 On July 17, 2023, October 15, 2023. 13 June 30, 2023 third 2023. no The Company incurred $1.6 million of third 606, 340. June 30, 2023 three six June 30, 2023 three six June 30, 2022 Servier In 2017, In the first 2022, 352/S095025, fourth 2022, 352/S095025 not four In July 2023, 344/S095012, 4 1BB/PD L1 344/S095012 344/S095012 344/S095012, third 2023 no As of June 30, 2023 . Contract Balances The Company receives payments from its collaboration partners based on payments established in each contract. Upfront payments and fees are recorded as deferred revenue upon receipt or when due until such time as the Company satisfies its performance obligations under each arrangement. A contract asset is a conditional right to consideration in exchange for goods or services that the Company has transferred to a customer. Amounts are recorded as accounts receivable when the Company’s right is unconditional. There were no additions to deferred revenue during the three six June 30, 2023 three six June 30, 2023

Note 4 - Grant Income

Note 4 - Grant Income	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Government Assistance [Text Block]	4. Grant Income One of the Company's proprietary respiratory assets is PRS- 220, June 2021, €14.2 June 2021) The Bavarian Grant provides partial reimbursement for qualifying research and development activities on PRS- 220, 1 June 2023 ( August 2023). six December 2023 ( February 2024). may 220, December 2023, may 220 may

Note 5 - Cash, Cash Equivalents

Note 5 - Cash, Cash Equivalents and Investments	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	5. Cash, cash equivalents and investments As of June 30, 2023 December 31, 2022 2 June 30, 2023 December 31, 2022 Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) June 30, 2023 Money market funds, included in cash equivalents $ 36,705 $ 36,705 $ — $ — Investments - US treasuries 8,141 8,141 — — Investments - Corporate bonds 1,796 — 1,796 — Total $ 46,642 $ 44,846 $ 1,796 $ — Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) December 31, 2022 Money market funds, included in cash equivalents $ 17,618 $ 17,618 $ — $ — Investments - US treasuries 3,573 3,573 — — Investments - Foreign treasuries 896 896 — — Investments - Asset-backed securities 499 — 499 — Investments - Corporate bonds 15,566 — 15,566 — Total $ 38,152 $ 22,087 $ 16,065 $ — Cash equivalents and marketable securities have been initially valued at the transaction price and subsequently valued, at the end of each reporting period, utilizing third third not June 30, 2023 Investments at June 30, 2023 Contractual maturity (in days) Amortized Cost Unrealized gains Unrealized losses Fair Value Investments US treasuries 20 160 $ 8,141 $ 1 $ (1 ) $ 8,141 Corporate bonds 5 47 1,797 — (1 ) 1,796 Total $ 9,938 $ 1 $ (2 ) $ 9,937 The Company recorded no realized gains or losses and $0.1 million in realized losses from the maturity of available-for-sale securities during the three six June 30, 2023 three six June 30, 2022 As of June 30, 2023 no

Note 6 - Property and Equipment

Note 6 - Property and Equipment, Net	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	6. Property and equipment, net Property and equipment are summarized as follows (in thousands): June 30, December 31, 2023 2022 Laboratory furniture and equipment $ 12,258 $ 11,970 Office furniture and equipment 1,761 1,861 Computer equipment 353 364 Leasehold improvements 12,312 12,444 Property and equipment, cost 26,684 26,639 Accumulated depreciation (10,521 ) (9,647 ) Property and equipment, net $ 16,163 $ 16,992

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	7. Accrued Expenses Accrued expenses and other current liabilities consisted of the following (in thousands): June 30, December 31, 2023 2022 Research and development fees $ 3,847 $ 5,758 Compensation expense 2,125 3,015 Accrued accounts payable 1,531 1,245 Lease liabilities 910 859 Other current liabilities 497 483 Accrued license obligations 172 245 Total $ 9,082 $ 11,605

Note 8 - Net Loss Per Share

Note 8 - Net Loss Per Share	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	8. Net Income (Loss) per Share Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average shares outstanding during the period, without consideration for common stock equivalents. Diluted net income (loss) per share is calculated by adjusting weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury-stock and if-converted methods. For purposes of the diluted net income (loss) per share calculation, preferred stock, stock options and warrants are considered to be common stock equivalents but have been excluded from the calculation of diluted net income (loss) per share, as their effect would be anti-dilutive for all periods presented, with the exception of the three June 30, 2023 A reconciliation of basic and diluted net income (loss) per share is as follows (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net income (loss) $ 3,976 $ (10,338 ) $ (9,207 ) $ (15,439 ) Basic weighted average common shares outstanding 87,639 74,125 81,115 73,919 Weighted average common equivalent shares 187 — — — Diluted weighted average common shares outstanding 87,826 74,125 81,115 73,919 Basic net income (loss) per share $ 0.05 $ (0.14 ) $ (0.11 ) $ (0.21 ) Diluted net income (loss) per share $ 0.05 $ (0.14 ) $ (0.11 ) $ (0.21 ) As of June 30, 2023 2022

Note 9 - Stockholders' Equity

Note 9 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Equity [Text Block]	9. Stockholders Equity The Company had 300,000,000 shares authorized and 98,851,927 and 74,519,103 shares of common stock issued and outstanding as of June 30, 2023 December 31, 2022 The Company had 10,000,000 shares authorized and 15,617 shares of preferred stock issued and outstanding as of June 30, 2023 December 31, 2022 • Series A Convertible, 85 shares issued and outstanding at June 30, 2023 December 31, 2022 • Series B Convertible, 4,026 shares issued and outstanding at June 30, 2023 December 31, 2022 • Series C Convertible, 3,506 shares issued and outstanding at June 30, 2023 December 31, 2022 • Series D Convertible, 3,000 shares issued and outstanding at June 30, 2023 December 31, 2022 • Series E Convertible, 5,000 shares issued and outstanding at June 30, 2023 December 31, 2022 2020 At the 2020 2020 2020 2020 2020 2020 2019 2019 no 2019 2020 2019 2020 At the 2021 June 25, 2021, first 2020 2020 2022 June 22, 2022, second 2020 2020 2023 June 21, 2023, third 2020 2020 2023 At the 2023 2023 2023 2023 2023 Open Market Sales Agreements In August 2021, may 3 August 2021. November 2022, may six June 30, 2023 the Company sold 24.3 million shares for gross proceeds of $20.3 million under the ATM program at an average stock price of $0.84 per share. For the six June 30, 2022 , the Company sold 1.9 million shares for gross proceeds of $ 6.9 million under the ATM Program at an average stock price of $ 3.57 per share.

Note 10 - Leases

Note 10 - Leases	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	10. Leases In August 2015, not December 31, 2022. In October 2018, February 2020 October 2024. not may may not Monthly base rent for the initial 105,000 square feet of the leased property, including parking spaces, will total approximately $0.2 million per month. In addition to the base rent, Pieris GmbH is also responsible for certain administrative and operational costs in accordance with the Hallbergmoos Lease. Pieris GmbH provided a security deposit of $0.8 million as required by the Hallbergmoos Lease. The Company will serve as a guarantor for the Hallbergmoos Lease. The Hallbergmoos Lease included $11.5 million of tenant improvements allowance for normal tenant improvements, for which construction began in March 2019. 842. The following table summarizes operating lease costs included in operating expenses (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease costs $ 287 $ 331 $ 574 $ 680 Variable lease costs (1) 204 165 388 324 Total lease cost $ 491 $ 496 $ 962 $ 1,004 ( 1 The following table summarizes the weighted-average remaining lease term and discount rate: As of June 30, 2023 Weighted-average remaining lease term (years) 9.1 Weighted-average discount rate 10.5 % Cash paid for amounts included in the measurement of the lease liabilities were $0.5 million and $0.6 million, respectively, for the three June 30, 2023 2022 As of June 30, 2023 Total 2023 $ 1,070 2024 2,141 2025 2,141 2026 2,141 2027 2,141 Thereafter 9,812 Total undiscounted lease payments 19,446 Less: present value adjustment (6,619 ) Present value of lease liabilities $ 12,827 Not October 2024. $3.9 October 2024

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements included herein have been prepared by the Company in accordance with accounting principles generally accepted in the United States, or U.S. GAAP, for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments, consisting of normal recurring adjustments, and disclosures considered necessary for a fair presentation of interim period results have been included. Interim results for the three six June 30, 2023 not may December 31, 2023 10 December 31, 2022 March 31, 2023.
Use of Estimates, Policy [Policy Text Block]	Basis of Presentation and Use of Estimates The accompanying condensed consolidated financial statements of Pieris Pharmaceuticals, Inc. and its wholly-owned subsidiaries were prepared in accordance with U.S. GAAP. The condensed consolidated financial statements include the accounts of all subsidiaries. All intercompany balances and transactions have been eliminated. The preparation of the financial statements in accordance with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the related disclosures at the date of the financial statements and during the reporting period. Significant estimates are used for, but are not
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents and Investments The Company determines the appropriate classification of its investments at the time of purchase. All liquid investments with original maturities of 90 320, Investments Debt and Equity Securities Available-for-sale investments are recorded at fair value, with unrealized gains or losses included in accumulated other comprehensive loss on the Company’s balance sheets. Realized gains and losses are determined using the specific identification method and are included as a component of other income. The Company reviews investments for other-than-temporary impairment whenever the fair value of an investment is less than the amortized cost and evidence indicates that an investment’s carrying amount is not not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk and Off-Balance Sheet Risk The Company has no not not not
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurement The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. FASB ASC Topic 820, Fair Value Measurement and Disclosures not one three • Level 1 • Level 2 not • Level 3 To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. Financial instruments measured at fair value on a recurring basis include cash equivalents and investments (see Note 5 An entity may not
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are recorded at acquisition cost, less accumulated depreciation and impairment. Depreciation on property and equipment is calculated using the straight-line method over the remaining estimated useful lives of the assets. Maintenance and repairs to these assets are charged to expenses as occurred. The estimated useful life of the different groups of property and equipment is as follows: Asset Classification Estimated useful life (in years) Leasehold improvements shorter of useful life or remaining life of the lease Laboratory furniture and equipment 8 - 14 Office furniture and equipment 5 - 13 Computer and equipment 3 - 7
Revenue [Policy Text Block]	Revenue Recognition Pieris has entered into several licensing agreements with collaboration partners for the development of Anticalin therapeutics against a variety of targets. The terms of these agreements provide for the transfer of multiple goods or services which may may no Collaborative Arrangements The Company considers the nature and contractual terms of an arrangement and assesses whether the arrangement involves a joint operating activity pursuant to which it is an active participant and exposed to significant risks and rewards with respect to the arrangement. If the Company is an active participant and exposed to the significant risks and rewards with respect to the arrangement, it accounts for these arrangements pursuant to ASC 808, Collaborative Arrangements 808, not Revenue from Contracts with Customers In accordance with ASC 606, five 1 2 3 4 5 The Company evaluates all promised goods and services within a customer contract and determines which of such goods and services are separate performance obligations. This evaluation includes an assessment of whether the good or service is capable of being distinct and whether the good or service is separable from other promises in the contract. In assessing whether promised goods or services are distinct, the Company considers factors such as the stage of development of the underlying intellectual property and the capabilities of the customer to develop the intellectual property on their own or whether the required expertise is readily available. Licensing arrangements are analyzed to determine whether the promised goods or services, which often include licenses, research and development services and governance committee services, are distinct or whether they must be accounted for as part of a combined performance obligation. If the license is considered not Certain contracts contain optional and additional items, which are considered marketing offers and are accounted for as separate contracts with the customer if such option is elected by the customer, unless the option provides a material right which would not The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring goods and services to the customer. A contract may not If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price among the performance obligations on a relative standalone selling price basis unless a portion of the transaction price is variable and meets the criteria to be allocated entirely to a performance obligation or to a distinct good or service that forms part of a single performance obligation. The Company allocates the transaction price based on the estimated standalone selling price of the underlying performance obligations or, in the case of certain variable consideration, to one may one When a performance obligation is satisfied, revenue is recognized for the amount of the transaction price, excluding estimates of variable consideration that are constrained, that is allocated to that performance obligation on a relative standalone selling price basis. Significant management judgment is required in determining the level of effort required under an arrangement and the period over which the Company is expected to complete its performance obligations under an arrangement. For performance obligations consisting of licenses and other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from non-refundable, up-front fees. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company will recognize revenue from non-refundable, up-front fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. Revenue recognized under an arrangement involving a participant that is a customer is presented as Customer Revenue. Milestones and Royalties The Company aggregates milestones into four first There is uncertainty that the events to obtain the research and development milestones will be achieved given the nature of clinical development and the stage of the Company’s technology. The Company has thus determined that all research and development milestones will be constrained until it is deemed probable that a significant revenue reversal will not For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and for which the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Commercial milestones and sales royalties are determined by sales or usage-based thresholds and will be accounted for under the royalty recognition constraint as constrained variable consideration. The Company calculates the maximum amount of potential milestones achievable under each collaboration agreement and discloses such potential future milestones for all current collaborations using such a maximum calculation. Contract Balances The Company recognizes a contract asset when the Company transfers goods or services to a customer before the customer pays consideration or before payment is due, excluding any amounts presented as a receivable (i.e., accounts receivable). A contract asset is an entity’s right to consideration in exchange for goods or services that the entity has transferred to a customer. The contract liabilities (i.e., deferred revenue) primarily relate to contracts where the Company has received payment but has not In the event of an early termination of a collaboration agreement, any contract liabilities would be recognized in the period in which all Company obligations under the agreement have been fulfilled. Costs to Obtain and Fulfill a Contract with a Customer Certain costs to obtain customer contracts, including success-based fees paid to third 340, Other Assets and Deferred Costs 340.
Government Assistance [Policy Text Block]	Government Grants The Company recognizes grants from governmental agencies when there is reasonable assurance that the Company will comply with the conditions attached to the grant arrangement and the grant will be received. The Company evaluates the conditions of each grant as of each reporting period to evaluate whether the Company has reached reasonable assurance of meeting the conditions of each grant arrangement and that it is expected that the grant will be received as a result of meeting the necessary conditions. Grants are recognized in the condensed consolidated statements of operations on a systematic basis over the periods in which the Company recognizes the related costs for which the government grant is intended to compensate. Specifically, grant income related to research and development costs is recognized as such expenses are incurred. Grant income is included as a separate caption within Other income (expense), net in the condensed consolidated statements of operations.
Lessee, Leases [Policy Text Block]	Leases In accordance with ASU No. 2016 2, 842 842, The Company determines if an arrangement is a lease at inception. The Company’s contracts are determined to contain a lease within the scope of ASC 842 1 no 2 3 At the commencement date, operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of future lease payments over the expected lease term. The Company’s lease agreements do not may The Company typically only includes an initial lease term in its assessment of a lease agreement. Options to renew a lease are not not Assumptions made by the Company at the commencement date are re-evaluated upon occurrence of certain events, including a lease modification. A lease modification results in a separate contract when the modification grants the lessee an additional right of use not
Income Tax, Policy [Policy Text Block]	Income Taxes While the Company generated pretax income for the quarter ended June 30, 2023, six June 30, 2023 2023
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Adopted In June 2016, No. 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13. 2016 13 Subsequently, in November 2018, No. 2018 19, Codification Improvements to Topic 326, November 2019, No. 2019 11, Codification Improvements to Topic 326, 2016 13. November 2019 No. 2019 10, Financial Instruments-Credit Losses (Topic 326 815 842 2016 13 three 2016 13 December 15, 2022 January 1, 2023 The Company has considered other recent accounting pronouncements and concluded that they are either not not

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Property, Plant and Equipment, Estimated Useful Life [Table Text Block]	Asset Classification Estimated useful life (in years) Leasehold improvements shorter of useful life or remaining life of the lease Laboratory furniture and equipment 8 - 14 Office furniture and equipment 5 - 13 Computer and equipment 3 - 7

Note 3 - Revenue (Tables)

Note 3 - Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Seagen $ 3,486 $ 2,607 $ 4,909 $ 2,919 AstraZeneca 4,056 (130 ) 4,490 4,623 Servier (31 ) 230 (105 ) 4,964 Genentech 12,544 991 12,697 2,180 Total Revenue $ 20,055 $ 3,698 $ 21,991 $ 14,686
Revenue From Contract With Customer, Milestone Payments [Table Text Block]	Research, Development, Regulatory & Commercial Milestones Sales Milestones Seagen $ 759 $ 450 Servier 98 106 Boston Pharmaceuticals 88 265 Total potential milestone payments $ 945 $ 821

Note 5 - Cash, Cash Equivalen_2

Note 5 - Cash, Cash Equivalents and Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Cash, Cash Equivalents and Investments [Table Text Block]	Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) June 30, 2023 Money market funds, included in cash equivalents $ 36,705 $ 36,705 $ — $ — Investments - US treasuries 8,141 8,141 — — Investments - Corporate bonds 1,796 — 1,796 — Total $ 46,642 $ 44,846 $ 1,796 $ — Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) December 31, 2022 Money market funds, included in cash equivalents $ 17,618 $ 17,618 $ — $ — Investments - US treasuries 3,573 3,573 — — Investments - Foreign treasuries 896 896 — — Investments - Asset-backed securities 499 — 499 — Investments - Corporate bonds 15,566 — 15,566 — Total $ 38,152 $ 22,087 $ 16,065 $ —
Debt Securities, Available-for-Sale [Table Text Block]	Contractual maturity (in days) Amortized Cost Unrealized gains Unrealized losses Fair Value Investments US treasuries 20 160 $ 8,141 $ 1 $ (1 ) $ 8,141 Corporate bonds 5 47 1,797 — (1 ) 1,796 Total $ 9,938 $ 1 $ (2 ) $ 9,937

Note 6 - Property and Equipme_2

Note 6 - Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	June 30, December 31, 2023 2022 Laboratory furniture and equipment $ 12,258 $ 11,970 Office furniture and equipment 1,761 1,861 Computer equipment 353 364 Leasehold improvements 12,312 12,444 Property and equipment, cost 26,684 26,639 Accumulated depreciation (10,521 ) (9,647 ) Property and equipment, net $ 16,163 $ 16,992

Note 7 - Accrued Expenses (Tabl

Note 7 - Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	June 30, December 31, 2023 2022 Research and development fees $ 3,847 $ 5,758 Compensation expense 2,125 3,015 Accrued accounts payable 1,531 1,245 Lease liabilities 910 859 Other current liabilities 497 483 Accrued license obligations 172 245 Total $ 9,082 $ 11,605

Note 8 - Net Loss Per Share (Ta

Note 8 - Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net income (loss) $ 3,976 $ (10,338 ) $ (9,207 ) $ (15,439 ) Basic weighted average common shares outstanding 87,639 74,125 81,115 73,919 Weighted average common equivalent shares 187 — — — Diluted weighted average common shares outstanding 87,826 74,125 81,115 73,919 Basic net income (loss) per share $ 0.05 $ (0.14 ) $ (0.11 ) $ (0.21 ) Diluted net income (loss) per share $ 0.05 $ (0.14 ) $ (0.11 ) $ (0.21 )

Note 10 - Leases (Tables)

Note 10 - Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease costs $ 287 $ 331 $ 574 $ 680 Variable lease costs (1) 204 165 388 324 Total lease cost $ 491 $ 496 $ 962 $ 1,004 As of June 30, 2023 Weighted-average remaining lease term (years) 9.1 Weighted-average discount rate 10.5 %
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Total 2023 $ 1,070 2024 2,141 2025 2,141 2026 2,141 2027 2,141 Thereafter 9,812 Total undiscounted lease payments 19,446 Less: present value adjustment (6,619 ) Present value of lease liabilities $ 12,827

Note 1 - Corporate Information

Note 1 - Corporate Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Jul. 18, 2023	Dec. 31, 2022	May 31, 2013
Cash, Cash Equivalents, and Short-Term Investments	$ 54,900		$ 54,900
Net Income (Loss) Attributable to Parent	3,976	$ (10,338)	(9,207)	$ (15,439)
Retained Earnings (Accumulated Deficit)	$ (299,628)		$ (299,628)				$ (290,421)
Forecast [Member]
Reduction in Workforce, Cost					$ 3,400
Subsequent Event [Member]
Reduction in Workforce, Percentage						70%
Pieris Pharmaceuticals GmbH [Member]
Business Acquisition, Percentage of Voting Interests Acquired								100%

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment, Useful Lives (Details)	Jun. 30, 2023
Laboratory Equipment [Member] | Minimum [Member]
Property and equipment, useful life (Year)	8 years
Laboratory Equipment [Member] | Maximum [Member]
Property and equipment, useful life (Year)	14 years
Office Equipment [Member] | Minimum [Member]
Property and equipment, useful life (Year)	5 years
Office Equipment [Member] | Maximum [Member]
Property and equipment, useful life (Year)	13 years
Computer Equipment [Member] | Minimum [Member]
Property and equipment, useful life (Year)	3 years
Computer Equipment [Member] | Maximum [Member]
Property and equipment, useful life (Year)	7 years

Note 3 - Revenue (Details Textu

Note 3 - Revenue (Details Textual) $ / shares in Units, $ in Thousands					1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	May 19, 2021 USD ($)	Apr. 24, 2021 USD ($)	Mar. 24, 2021 USD ($) $ / shares shares	Feb. 08, 2018 USD ($)	Jan. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2017	Jan. 01, 2019 USD ($)	May 02, 2017 USD ($)
Contract with Customer, Liability, Revenue Recognized						$ 19,900			$ 21,600
Contract with Customer, Liability, Current						17,683			17,683		$ 20,824
Contract with Customer, Liability, Noncurrent						759			759		18,734
Increase (Decrease) in Contract with Customer, Liability						0			0
Genentech [Member]
Number Of Initial Research Programs	2
Contract with Customer, Liability, Revenue Recognized						12,500
Revenue from Contract with Customer, Collaboration Fee On Additional Program	$ 10,000
Number Of Optional Additional Research Programs	2
Seattle Genetics Inc. [Member]
Number of Performance Obligations				3
Amended Collaboration Agreement, Resale of Stock, Period (Day)			60 days
Seattle Genetics Inc. [Member] | Private Placement [Member]
Contract with Customer, Liability, Total			$ 3,300
Sale of Stock, Number of Shares Issued in Transaction (in shares) | shares			3,706,174
Sale of Stock, Consideration Received on Transaction			$ 13,000
Sale of Stock, Price Per Share (in dollars per share) | $ / shares			$ 3.51
Sale of Stock, Fair Value, Price Per Share (in dollars per share) | $ / shares			$ 2.61
Seattle Genetics Inc. [Member] | License and Collaboration Agreement [Member]
Number of Research Programs			3	3
Revenue from Contract with Customer, Period After Effective Date Agreements May Be Terminated (Month)				12 months
Revenue from Contract with Customer, Agreement Termination Advance Notice Period (Day)				90 days
Revenue from Contract with Customer, Agreement Termination Advance Notice Period If Marketing Approval Obtained (Day)				180 days
Revenue from Contract with Customer, Agreement Termination Notice Period Upon Material Breach (Day)				90 days
Revenue from Contract with Customer, Agreement Termination, Additional Notice Period Upon Material Breach (Day)				90 days
Number Of Licenses				3
Number Of Swap Options				2
Number of Performance Obligations				6
Revenue, Remaining Performance Obligation, Amount						10,400			10,400
Seattle Genetics Inc. [Member] | Other Arrangement [Member]
Number of Research Programs				2
Seattle Genetics Inc. [Member] | Up-front Payment Arrangement [Member]
Contract with Customer, Liability, Total				$ 1,200,000
Research and Development Arrangement, Contract to Perform for Others, Compensation Earned				$ 4,900
Seattle Genetics Inc. [Member] | Platform Technology License [Member]
Number of Performance Obligations				3
Number of Target Programs				3
Seattle Genetics Inc. [Member] | Antibody Target Swap [Member]
Number of Performance Obligations				2
Seattle Genetics Inc. [Member] | Governance Committee Participation [Member]
Number of Performance Obligations				1
Seattle Genetics Inc. [Member] | Collaborative Arrangement [Member]
Revenue from Contract with Customer, Excluding Assessed Tax					$ 5,000						5,000
Contract with Customer, Liability, Current						9,400			9,400
Contract with Customer, Liability, Noncurrent						800			800
Astra Zeneca A B [Member]
Capitalized Contract Cost, Net, Total						100			100
Capitalized Contract Cost, Amortization						100	$ 200		100	$ 200
Astra Zeneca A B [Member] | Accounting Standards Update 2014-09 [Member]
Capitalized Contract Cost, Net, Total														$ 1,600
Capitalized Contract Cost, Gross													$ 1,100
Astra Zeneca A B [Member] | License and Collaboration Agreement [Member]
Contract with Customer, Liability, Revenue Recognized						4,000					$ 9,700
Contract with Customer, Liability, Current						3,500			3,500
Astra Zeneca A B [Member] | License and Collaboration Agreement [Member] | Maximum [Member]
Number of Collaboration Products														4
Astra Zeneca A B [Member] | License and Collaboration Agreement [Member] | Minimum [Member]
Number of Collaboration Products														2
Les Laboratoires Servier And Institut De Recherches Internationales Servier [Member]
Contract with Customer, Liability, Revenue Recognized								$ 4,900
Number of Programs												4
Number of Novel Proteins												1
Les Laboratoires Servier And Institut De Recherches Internationales Servier [Member] | License and Collaboration Agreement [Member]
Contract with Customer, Liability, Current						$ 4,700			$ 4,700
Number of Programs												5
License [Member] | Genentech [Member]
Contract with Customer, Liability, Total	$ 20,000
Contract with Customer, Liability, Noncurrent							$ 0			$ 0
License [Member] | B P Assets X I I Inc [Member] | Exclusive Product License Agreement [Member]
Contract with Customer, Liability, Total		$ 10,000
Revenue from Contract with Customer, Contribution Towards Manufacturing Activities		$ 4,000
License [Member] | Seattle Genetics Inc. [Member] | Up-front Payment Arrangement [Member]
Revenue from Contract with Customer, Excluding Assessed Tax				$ 30,000

Note 3 - Revenue - Disaggregati

Note 3 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Total revenue	$ 20,055	$ 3,698	$ 21,991	$ 14,686
Seattle Genetics Inc. [Member]
Total revenue	3,486	2,607	4,909	2,919
Astra Zeneca A B [Member]
Total revenue	4,056	(130)	4,490	4,623
Les Laboratoires Servier And Institut De Recherches Internationales Servier [Member]
Total revenue	(31)	230	(105)	4,964
Genentech [Member]
Total revenue	$ 12,544	$ 991	$ 12,697	$ 2,180

Note 3 - Revenue - Potential Mi

Note 3 - Revenue - Potential Milestone Payments Received (Details) - Collaborative Arrangement [Member] $ in Millions	Jun. 30, 2023 USD ($)
Research And Development Milestone Payments [Member]
milestone	$ 945
Research And Development Milestone Payments [Member] | Seattle Genetics Inc. [Member]
milestone	759
Research And Development Milestone Payments [Member] | Servier Developed Collaboration Products [Member]
milestone	98
Research And Development Milestone Payments [Member] | Boston Pharmaceuticals [Member]
milestone	88
Sales Milestone Payments [Member]
milestone	821
Sales Milestone Payments [Member] | Seattle Genetics Inc. [Member]
milestone	450
Sales Milestone Payments [Member] | Servier Developed Collaboration Products [Member]
milestone	106
Sales Milestone Payments [Member] | Boston Pharmaceuticals [Member]
milestone	$ 265

Note 4 - Grant Income (Details

Note 4 - Grant Income (Details Textual) - Jun. 30, 2021 € in Millions, $ in Millions	USD ($)	EUR (€)
Grants Receivable	$ 17	€ 14.2

Note 5 - Cash, Cash Equivalen_3

Note 5 - Cash, Cash Equivalents and Investments (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Debt Securities, Available-for-Sale, Realized Gain (Loss)	$ 0	$ (100)

Note 5 - Cash, Cash Equivalen_4

Note 5 - Cash, Cash Equivalents and Investments - Cash Equivalents and Investments Carried at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair value	$ 9,937
Total	46,642	$ 38,152
Fair Value, Inputs, Level 1 [Member]
Total	44,846	22,087
Fair Value, Inputs, Level 2 [Member]
Total	1,796	16,065
Fair Value, Inputs, Level 3 [Member]
Total	0	0
Money Market Funds [Member]
Money market funds, included in cash equivalents	36,705	17,618
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Money market funds, included in cash equivalents	36,705	17,618
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Money market funds, included in cash equivalents	0	0
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Money market funds, included in cash equivalents	0	0
US Treasury Securities [Member]
Fair value	8,141	3,573
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value	8,141	3,573
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value	0	0
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value	0	0
Corporate Bond Securities [Member]
Fair value	1,796	15,566
Corporate Bond Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value	0	0
Corporate Bond Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value	1,796	15,566
Corporate Bond Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value	$ 0	0
Debt Security, Government, Non-US [Member]
Fair value		896
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value		896
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value		0
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value		0
Asset-Backed Securities [Member]
Fair value		499
Asset-Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value		0
Asset-Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value		499
Asset-Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value		$ 0

Note 5 - Cash, Cash Equivalen_5

Note 5 - Cash, Cash Equivalents and Investments - Investments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Amortized cost	$ 9,938
Unrealized gains	1
Unrealized losses	(2)
Fair value	9,937
US Treasury Securities [Member]
Amortized cost	8,141
Unrealized gains	1
Unrealized losses	(1)
Fair value	$ 8,141	$ 3,573
US Treasury Securities [Member] | Minimum [Member]
Contractual Maturity Period (Day)	20 days
US Treasury Securities [Member] | Maximum [Member]
Contractual Maturity Period (Day)	160 days
Corporate Bond Securities [Member]
Amortized cost	$ 1,797
Unrealized gains	0
Unrealized losses	(1)
Fair value	$ 1,796	$ 15,566
Corporate Bond Securities [Member] | Minimum [Member]
Contractual Maturity Period (Day)	5 days
Corporate Bond Securities [Member] | Maximum [Member]
Contractual Maturity Period (Day)	47 days

Note 6 - Property and Equipme_3

Note 6 - Property and Equipment, Net - Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property and equipment, cost	$ 26,684	$ 26,639
Accumulated depreciation	(10,521)	(9,647)
Property and equipment, net	16,163	16,992
Laboratory Equipment [Member]
Property and equipment, cost	12,258	11,970
Office Equipment [Member]
Property and equipment, cost	1,761	1,861
Computer Equipment [Member]
Property and equipment, cost	353	364
Leasehold Improvements [Member]
Property and equipment, cost	$ 12,312	$ 12,444

Note 7 - Accrued Expenses - Acc

Note 7 - Accrued Expenses - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Research and development fees	$ 3,847	$ 5,758
Compensation expense	2,125	3,015
Accrued accounts payable	1,531	1,245
Other current liabilities	497	483
Accrued license obligations	172	245
Total	9,082	11,605
Accrued Liabilities and Other Current Liabilities [Member]
Lease liabilities	$ 910	$ 859

Note 8 - Net Loss Per Share (De

Note 8 - Net Loss Per Share (Details Textual) - shares shares in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	41.2	39.6

Note 8 - Net Income (Loss) Per

Note 8 - Net Income (Loss) Per Share - Reconciliation of Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net Income (Loss) Attributable to Parent	$ 3,976	$ (10,338)	$ (9,207)	$ (15,439)
Basic weighted average common shares outstanding (in shares)	87,639	74,125	81,115	73,919
Weighted average common equivalent shares (in shares)	187	0	0	0
Diluted weighted average common shares outstanding (in shares)	87,826	74,125	81,115	73,919
Basic net income (loss) per share (in dollars per share)	$ 0.05	$ (0.14)	$ (0.11)	$ (0.21)
Diluted net income (loss) per share (in dollars per share)	$ 0.05	$ (0.14)	$ (0.11)	$ (0.21)

Note 9 - Stockholders' Equity (

Note 9 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions				1 Months Ended		6 Months Ended
	Jun. 21, 2023	Jun. 22, 2022	Jun. 25, 2021	Nov. 30, 2022	Aug. 31, 2021	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2020
Common Stock, Shares Authorized (in shares)						300,000,000		300,000,000
Common Stock, Shares, Issued (in shares)						98,851,927		74,519,103
Common Stock, Par or Stated Value Per Share (in dollars per share)						$ 0.001		$ 0.001
Preferred Stock, Shares Authorized (in shares)						10,000,000		10,000,000
Preferred Stock, Shares Issued (in shares)						15,617		15,617
Preferred Stock, Par or Stated Value Per Share (in dollars per share)						$ 0.001		$ 0.001
Preferred Stock, Shares Outstanding, Ending Balance (in shares)						15,617		15,617
Common Stock, Shares, Outstanding (in shares)						98,851,927		74,519,103
Jefferies L L C [Member] | At the Market Offering [Member]
Sale of Stock, Authorized Amount				$ 75	$ 50
Stock Issued During Period, Shares, New Issues (in shares)						24,300,000	1,900,000
Stock Issued During Period, Value, Issued for Services						$ 20.3	$ 6.9
Shares Issued, Price Per Share (in dollars per share)						$ 0.84	$ 3.57
Employee Director And Consultant Equity Incentive Plan2020 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)									3,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)									1,579,678
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares)	6,000,000	3,000,000	2,250,000
The 2023 Employee Stock Purchase Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)						750,000
Series A Preferred Stock [Member]
Preferred Stock, Shares Issued (in shares)						85		85
Preferred Stock, Shares Outstanding, Ending Balance (in shares)						85		85
Series B Preferred Stock [Member]
Preferred Stock, Shares Issued (in shares)						4,026		4,026
Preferred Stock, Shares Outstanding, Ending Balance (in shares)						4,026		4,026
Series C Preferred Stock [Member]
Preferred Stock, Shares Issued (in shares)						3,506		3,506
Preferred Stock, Shares Outstanding, Ending Balance (in shares)						3,506		3,506
Series D Preferred Stock [Member]
Preferred Stock, Shares Issued (in shares)						3,000		3,000
Preferred Stock, Shares Outstanding, Ending Balance (in shares)						3,000		3,000
Series E Preferred Stock [Member]
Preferred Stock, Shares Issued (in shares)						5,000		5,000
Preferred Stock, Shares Outstanding, Ending Balance (in shares)						5,000		5,000

Note 10 - Leases (Details Textu

Note 10 - Leases (Details Textual) $ in Millions		1 Months Ended	3 Months Ended
	Feb. 29, 2020 USD ($) ft²	Feb. 29, 2020 USD ($) ft²	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2019 USD ($)	Aug. 31, 2015 ft²
Operating Lease, Payments			$ 0.5	$ 0.6
Hallbergmoos Germany [Member] | Leases Expected to be Delivered by October 2024 [Member]
Area of Real Estate Property (Square Foot) | ft²	22,300	22,300
Sublease Office Space [Member] | Boston Massachusetts [Member]
Area of Real Estate Property (Square Foot) | ft²						3,950
Office and Laboratory Space [Member] | Hallbergmoos Germany [Member]
Area of Real Estate Property (Square Foot) | ft²	105,000	105,000
Lessee, Operating Lease, Term of Contract (Year)	12 years 6 months	12 years 6 months
Number of Agreement Extension Options	2
Lessee, Operating Lease, Renewal Term (Month)	60 months	60 months
Lessee, Operating Lease, Monthly Rent Expense		$ 0.2
Security Deposit	$ 0.8	$ 0.8
Tenant Improvements					$ 11.5
Lessee, Operating Lease, Lease Not yet Commenced, Amount			$ 3.9

Note 10 - Leases - Operating Le

Note 10 - Leases - Operating Lease Costs (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating lease costs		$ 287	$ 331	$ 574	$ 680
Variable lease costs (1)	[1]	204	165	388	324
Total lease cost		$ 491	$ 496	$ 962	$ 1,004
Weighted-average remaining lease term (years) (Year)		9 years 1 month 6 days		9 years 1 month 6 days
Weighted-average discount rate		10.50%		10.50%
[1]Variable lease costs include certain additional charges for operating costs, including insurance, maintenance, taxes, utilities, and other costs incurred, which are billed based on both usage and as a percentage of the Company’s share of total square footage.

Note 10 - Leases - Maturities o

Note 10 - Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Jun. 30, 2023 USD ($)
2023	$ 1,070
2024	2,141
2025	2,141
2026	2,141
2027	2,141
Thereafter	9,812
Total undiscounted lease payments	19,446
Less: present value adjustment	(6,619)
Present value of lease liabilities	$ 12,827