Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 10, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001595248 | |
Entity Registrant Name | Genprex, 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 | 001-38244 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 90-0772347 | |
Entity Address, Address Line One | 3300 Bee Cave Road, #650-227 | |
Entity Address, City or Town | Austin | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 78746 | |
City Area Code | 512 | |
Local Phone Number | 537-7997 | |
Title of 12(b) Security | Common Stock, par value $0.001 per share | |
Trading Symbol | GNPX | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 59,409,822 |
Condensed Balance Sheets (Curre
Condensed Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 9,955,684 | $ 20,954,069 |
Accounts receivable | 0 | 34,852 |
Prepaid expenses and other | 2,410,425 | 484,224 |
Total current assets | 12,366,109 | 21,473,145 |
Property and equipment, net | 15,179 | 23,032 |
Other non-current assets: | ||
Security deposits | 17,154 | 21,818 |
Supplies | 2,770,955 | 2,864,937 |
Intellectual property, net | 741,722 | 702,095 |
Total other assets | 3,529,831 | 3,588,850 |
Total assets | 15,911,119 | 25,085,027 |
Current liabilities: | ||
Accounts payables | 1,497,979 | 442,925 |
Other current liabilities | 2,362,267 | 2,367,362 |
Total current liabilities | 3,860,246 | 2,810,287 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock $0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common stock $0.001 par value: 200,000,000 shares authorized; 51,979,078 and 48,105,962 shares issued and outstanding at June 30, 2023, and December 31, 2022, respectively | 51,979 | 48,106 |
Additional paid-in capital | 132,009,680 | 125,054,453 |
Accumulated deficit | (120,010,786) | (102,827,819) |
Total stockholders’ equity | 12,050,873 | 22,274,740 |
Total liabilities and stockholders’ equity | $ 15,911,119 | $ 25,085,027 |
Condensed Balance Sheets (Cur_2
Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Preferred stock, par value (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) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, shares issued (in shares) | 51,979,078 | 48,105,962 |
Common stock, shares outstanding (in shares) | 51,979,078 | 48,105,962 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Cost and expenses: | ||||
Depreciation | $ 3,837 | $ 6,544 | $ 7,853 | $ 13,274 |
Research and development | 3,976,917 | 2,926,927 | 9,287,065 | 4,967,153 |
General and administrative | 4,054,990 | 2,836,916 | 8,012,070 | 6,100,656 |
Total costs and expenses | 8,035,744 | 5,770,387 | 17,306,988 | 11,081,083 |
Operating loss | (8,035,744) | (5,770,387) | (17,306,988) | (11,081,083) |
Interest income | 55,551 | 5,744 | 124,021 | 6,623 |
Net loss | $ (7,980,193) | $ (5,764,643) | $ (17,182,967) | $ (11,074,460) |
Net loss per share—basic and diluted (in dollars per share) | $ (0.15) | $ (0.12) | $ (0.34) | $ (0.23) |
Weighted average number of common shares— basic and diluted (in shares) | 51,978,968 | 47,893,404 | 50,732,237 | 47,886,538 |
Condensed Statements of Changes
Condensed Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 47,874,708 | |||
Balance at Dec. 31, 2021 | $ 47,874 | $ 120,316,315 | $ (79,087,198) | $ 41,276,991 |
Issuance of stock for services (in shares) | 5,000 | |||
Issuance of stock for services | $ 5 | 17,495 | 0 | 17,500 |
Share-based compensation | 0 | 1,039,940 | 0 | 1,039,940 |
Net loss | $ 0 | 0 | (5,309,817) | (5,309,817) |
Balance (in shares) at Mar. 31, 2022 | 47,879,708 | |||
Balance at Mar. 31, 2022 | $ 47,879 | 121,373,750 | (84,397,015) | 37,024,614 |
Balance (in shares) at Dec. 31, 2021 | 47,874,708 | |||
Balance at Dec. 31, 2021 | $ 47,874 | 120,316,315 | (79,087,198) | 41,276,991 |
Net loss | (11,074,460) | |||
Balance (in shares) at Jun. 30, 2022 | 47,898,351 | |||
Balance at Jun. 30, 2022 | $ 47,898 | 122,525,045 | (90,161,658) | 32,411,285 |
Balance (in shares) at Mar. 31, 2022 | 47,879,708 | |||
Balance at Mar. 31, 2022 | $ 47,879 | 121,373,750 | (84,397,015) | 37,024,614 |
Issuance of stock for services (in shares) | 18,643 | |||
Issuance of stock for services | $ 19 | 17,953 | 0 | 17,972 |
Share-based compensation | 0 | 1,133,342 | 0 | 1,133,342 |
Net loss | $ 0 | 0 | (5,764,643) | (5,764,643) |
Issuance of stock for cash (in shares) | 0 | |||
Issuance of stock for cash | $ 0 | 0 | 0 | 0 |
Balance (in shares) at Jun. 30, 2022 | 47,898,351 | |||
Balance at Jun. 30, 2022 | $ 47,898 | 122,525,045 | (90,161,658) | 32,411,285 |
Balance (in shares) at Dec. 31, 2022 | 48,105,962 | |||
Balance at Dec. 31, 2022 | $ 48,106 | 125,054,453 | (102,827,819) | 22,274,740 |
Issuance of stock for services (in shares) | 5,000 | |||
Issuance of stock for services | $ 5 | 7,945 | 0 | 7,950 |
Share-based compensation | 0 | 1,324,165 | 0 | 1,324,165 |
Net loss | $ 0 | 0 | (9,202,774) | (9,202,774) |
Issuance of stock for cash (in shares) | 3,863,116 | |||
Issuance of stock for cash | $ 3,863 | 4,076,917 | 0 | 4,080,780 |
Balance (in shares) at Mar. 31, 2023 | 51,974,078 | |||
Balance at Mar. 31, 2023 | $ 51,974 | 130,463,480 | (112,030,593) | 18,484,861 |
Balance (in shares) at Dec. 31, 2022 | 48,105,962 | |||
Balance at Dec. 31, 2022 | $ 48,106 | 125,054,453 | (102,827,819) | 22,274,740 |
Net loss | (17,182,967) | |||
Balance (in shares) at Jun. 30, 2023 | 51,979,078 | |||
Balance at Jun. 30, 2023 | $ 51,979 | 132,009,680 | (120,010,786) | 12,050,873 |
Balance (in shares) at Mar. 31, 2023 | 51,974,078 | |||
Balance at Mar. 31, 2023 | $ 51,974 | 130,463,480 | (112,030,593) | 18,484,861 |
Issuance of stock for services (in shares) | 5,000 | |||
Issuance of stock for services | $ 5 | 4,395 | 0 | 4,400 |
Share-based compensation | 0 | 1,541,805 | 0 | 1,541,805 |
Net loss | $ 0 | 0 | (7,980,193) | (7,980,193) |
Balance (in shares) at Jun. 30, 2023 | 51,979,078 | |||
Balance at Jun. 30, 2023 | $ 51,979 | $ 132,009,680 | $ (120,010,786) | $ 12,050,873 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (17,182,967) | $ (11,074,460) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 7,853 | 13,274 |
Share-based compensation | 2,878,320 | 2,208,754 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 34,852 | 0 |
Prepaid expenses and other | (1,921,536) | (337,762) |
Research and development supplies | 93,982 | 69,485 |
Accounts payable | 1,055,054 | (289,872) |
Other current liabilities | (5,096) | 858,415 |
Net cash used in operating activities | (15,039,538) | (8,552,166) |
Cash flows from investing activities: | ||
Additions to intellectual property | (39,627) | (23,689) |
Net cash used in investing activities | (39,627) | (23,689) |
Cash flows from financing activities: | ||
Proceeds from issuances of stock and warrants | 4,080,780 | 0 |
Net cash provided by financing activities | 4,080,780 | 0 |
Net decrease in cash and cash equivalents | (10,998,385) | (8,575,855) |
Cash and cash equivalents, beginning of period | 20,954,069 | 38,628,876 |
Cash and cash equivalents, end of period | $ 9,955,684 | $ 30,053,021 |
Note 1 - Description of Busines
Note 1 - Description of Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 Unless the context requires otherwise, references to “Genprex,” the “Company,” “we,” “us” or “our” in this Quarterly Report on Form 10 1 may 2 Oncology Platform Our lead oncology drug candidate, REQORSA® Immunogene Therapy (generic name: quaratusugene ozeplasmid), previously referred to as GPX- 001, TUSC2 TUSC2 Acclaim- 1 1 1/2 three 1 2 2 1 May 25, 2023, 1 1 1 2 no 2 0.12 1 first fourth 2023. 2 66 19 2 May 2023 2 1 Acclaim- 2 2 1/2 three 1 2 2 1 2. 2 0.06 first 2 0.09 0.12 March 2023, 2 second 2024. 2 2 "RP2D" 2 Acclaim- 3 3 two 1 2 November 2022, 1/2 3 not first 3 fourth 2023. June 2023, 3 not August 2023, We have experienced a delay in the production of a new batch of REQORSA in connection with our transition to a lipid nanoparticle (“LNP”) third October 2023. not October 2023, first 2 1 1 3 fourth 2023; In April 2023, 2023 2023 second NPRL2 NPRL2 PD1 NPRL2 The TUSC2 one 3. TUSC2 NPRL2 3 may August 2022, three TUSC2 NPRL2. Diabetes Gene Therapy In diabetes, we have exclusively licensed from the University of Pittsburgh of the Commonwealth System of Higher Education (“University of Pittsburgh”) multiple technologies relating to the development of a gene therapy product for each of Type 1 2 1 2 Pdx1 002 1 003 2 002 may 003 2023 August 2022, one 003 2 July 2023. 9 10 February 2023, 1 002 16th 2023 Capital Requirements, Liquidity and Going Concern Considerations Our unaudited condensed financial statements are prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP") applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, as shown in the accompanying unaudited condensed financial statements, we have sustained substantial losses from operations since inception and have no Management recognizes that we must obtain additional capital resources to successfully commercialize our product candidates. To date, we have received funding in the form of equity and debt, and we plan to seek additional funding in the future. However, no not may not The Company believes that our current cash and cash equivalents, including from the net proceeds from the July 2023 9 third 2024. may As a result of the Company’s recurring losses from operations and the need for additional financing to fund its operating and capital requirements, there is uncertainty regarding the Company’s ability to maintain liquidity sufficient to operate its business effectively, which raises substantial doubt as to the Company’s ability to continue as a going concern. See “Note 9 July 2023 July 2023 |
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] | Note 2 Our unaudited condensed financial statements have been prepared in accordance with U.S. GAAP, and the requirements of the United States ("U.S.") Securities and Exchange Commission (the “SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. Accordingly, they do not December 31, 2022 December 31, 2022 2022 10 March 31, 2023 ( 10 The accompanying condensed financial statements are unaudited and include all adjustments (consisting of normal recurring adjustments) that management considers necessary for a fair presentation of our condensed financial position and results of operations for the interim periods presented. The results of operations for the interim periods are not may A summary of our significant accounting policies consistently applied in the preparation of the accompanying unaudited condensed financial statements follows. Use of Estimates The preparation of our unaudited condensed financial statements in conformity with U.S. GAAP requires us 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 unaudited condensed financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents We consider all highly liquid short-term investments with an initial maturity of three $250,000 June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Net Loss Per Share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the period, without consideration for potential dilutive shares of common stock, which includes common stock equivalents consisting of (i) 17,453,229 unexercised options granted by our board of directors and warrants to purchase shares of common stock, and (ii) 2,284,580 unvested restricted stock units to purchase shares of common stock granted by our board of directors. Fair Value of Financial Instruments The carrying amounts reported in the balance sheet for cash, money-market savings account, accounts receivable, and accounts payables approximate fair value because of the immediate or short-term maturity of these financial instruments. Property and Equipment Furniture and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, which range from three five Research and Development Costs Research and development expenditures consist of costs incurred to conduct research, develop engineering materials for further study, and develop clinical strategies for current and future programs. These costs include payments to collaborative research partners, manufacturing partners and consultants, and clinical strategy partners, wages and associated employee benefits, facilities, and overhead costs. These expenditures relate to our preclinical and Phase 1/2 Research and development supplies purchased and capitalized for future use were $2,770,955 and $2,864,937 at June 30, 2023 December 31, 2022 Intellectual Property Intellectual property consists of legal and related costs associated with patents and other proprietary technology and rights developed, acquired, licensed by, or maintained by us that we believe contribute to a probable economic benefit toward such patents and activities. These costs incurred in connection with obtaining and maintaining intellectual property protection, such as patent applications and patent maintenance, are capitalized. Intellectual property is stated at cost, to be amortized on a straight-line basis over the estimated useful lives of the assets. Accounting for Stock-Based Compensation We use the fair value-based method of accounting for stock-based compensation for options granted to employees, independent consultants and contractors. We measure options granted at fair value determined as of the grant date and recognize the expense over the periods in which the options vest or are expected to vest and related services are rendered based on the terms and conditions of the award. Generally, where the award only has a service condition, the requisite service period is the same as the vesting period. Long-Lived Assets We review long-lived assets and certain identifiable intangibles held and used for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not six June 30, 2023 December 31, 2022 Recent Accounting Developments Accounting pronouncements issued but not June 30, 2023 not |
Note 3 - Intellectual Property
Note 3 - Intellectual Property | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 3 We own or have exclusive license agreements on 20 22 University of Pittsburgh On February 11, 2020, 1 2 first August 17, 2022, November 3, 2022, 1 7 On November 22, 2022, 1 On December 29, 2022, Pdx1 2 See also "Note 9 10 July 2023. The University of Texas MD Anderson Cancer Center On May 4, 2020, |
Note 4 - Equity
Note 4 - Equity | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 4 Registered Direct Offering On March 1, 2023, 5 may See “Note 9 July 2023 July 2023 At-The-Market Offering On November 18, 2022, may 3 No. 333 239134 may 3 No. 333 271386 may December 31, 2022 not three June 30, 2023 six June 30, 2023 Stock Issuances During the three June 30, 2023 six June 30, 2023 three June 30, 2023 . During the three June 30, 2022 six June 30, 2022 10,000 5,000 three June 30, 2022 Preferred Stock We are authorized to issue 10,000,000 shares of preferred stock with a par value of $0.001 per share, none June 30, 2023 Common Stock We are authorized to issue 200,000,000 shares of common stock with a par value of $0.001 per share, all of which are voting common stock. There were 51,979,078 shares of our common stock outstanding at June 30, 2023 Common Stock Purchase Warrants Common stock purchase warrant activity for the three six June 30, 2023 June 30, 2022 2023 2022 Number of Weighted Average Number of Weighted Average Warrants Exercise Price Warrants Exercise Price Outstanding at January 1, 2,147,778 $ 4.32 2,204,747 $ 4.39 Warrants issued 3,839,524 1.10 — — Warrants exercised 38,400 6.25 — — Outstanding at March 31, 5,948,902 $ 2.23 2,204,747 $ 4.39 Warrants exercised — — 13,643 0.50 Warrants cancelled or expired — — 112,993 4.47 Outstanding at June 30, 5,948,902 $ 2.23 2,078,111 $ 4.41 Vested at June 30, 22,500 1.50 — — Exercisable at June 30, 5,728,069 $ 2.23 1,844,776 $ 4.66 We did not three June 30, 2023 six June 30, 2023 March 1, 2023, three six June 30, 2023 2023 June 30, 2023. We did not three six June 30, 2022 six June 30, 2022 November 2019 six June 30, 2022 As of June 30, 2023 five three six June 30, 2023 Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Expected term (in years): 0 2.5 - 3.0 Risk-free rate: 0% 4.99% - 5.06% Volatility: 0.00% 83.14% Dividend yield: 0% 0% 2018 Our board of directors and stockholders have approved and adopted our 2018 “2018 April 3, 2018. 2018 422 1986, may may A total of 4,160,000 shares of common stock were initially available under the 2018 not 2009 “2009 No 2009 In addition, the number of shares of common stock reserved for issuance under the 2018 January 1 January 1, 2019, December 31 2018 On January 1, 2022 2023, 2018 June 30, 2023 2018 2018 Our board of directors and stockholders approved and adopted our 2018 April 3, 2018. not may January 1 January 1, 2019, December 31 not January 1, 2023 Stock Options As of June 30, 2023 ten three June 30, 2023 Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Expected term (in years): 6.0 6.0 Risk-free rate: 4.60% – 4.73% 4.60% – 4.73% Volatility: 83.42% 83.14% - 83.42% Dividend yield: 0% 0% During the three June 30, 2023 $0.81 six June 30, 2023 During the three June 30, 2022 $2.85 six June 30, 2022 2,892,166 $1.36 The weighted average remaining contractual term for the outstanding options at June 30, 2023 December 31, 2022 Stock option activity for the six June 30, 2023 December 31, 2022 2023 2022 Number of Weighted Average Number of Weighted Average Options Exercise Price Options Exercise Price Outstanding at January 1, 11,374,327 $ 3.08 8,574,301 $ 3.35 Options granted 82,500 1.43 2,404,562 2.30 Options expired or cancelled — — 17,500 2.00 Outstanding at March 31, 11,456,827 $ 3.07 10,961,363 $ 3.13 Options granted 47,500 0.85 487,604 1.59 Outstanding at June 30, 11,504,327 $ 3.06 11,448,967 $ 3.06 Vested at June 30, 582,981 2.02 235,465 3.32 Exercisable at June 30, 8,722,617 $ 3.16 6,166,620 $ 3.20 Restricted Stock Units A summary of the RSU activity under the 2018 six June 30, 2023 no December 31, 2022 2023 Number of Weighted Average Units Grant Date Fair Value Outstanding at January 1, — — Restricted stock units granted 1,913,195 1.65 Outstanding at March 31, 1,913,195 $ 1.65 Restricted stock units granted 371,385 0.74 Outstanding at June 30, 2,284,580 $ 1.50 Vested at June 30, — — Expected to vest at June 30, 2,284,580 $ 1.50 Share-Based Compensation For the three six June 30, 2023 June 30, 2023 not three June 30, 2023 For the three six June 30, 2022 As of June 30, 2023 not may |
Note 5 - 401(k) Savings Transac
Note 5 - 401(k) Savings Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Defined Contribution Plan [Text Block] | Note 5 401 In 2022, 401 "401 401 401 401 three six June 30, 2023 401 three six June 30, 2022 |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 6 Introgen Research Institute Introgen Research Institute (“IRI”) is a Texas-based technology company formed by Rodney Varner, our President, Chief Executive Officer and Chairman of the Board and IRI's sole officer. IRI is owned by trusts of which Mr. Varner's descendants are the sole beneficiaries. In April 2009, August 2012, 2011 7 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 7 Commitments MD Anderson Cancer Center In July 2018, two May 2022 August 2022, three NPRL2 three six June 30, 2023 not three six June 30, 2022 June 30, 2023 In 2011, 1994 On March 3, 2021, May 4, 2020, six one TUSC2 TUSC2 five six one five three six June 30, 2023 three six June 30, 2022 June 30, 2023 National Institutes of Health We have a royalty obligation to the National Institutes of Health ("NIH") to be paid upon our receipt of FDA approval using NIH technology. The $240,000 contingent obligation which increases annually by $20,000 and is $340,000 as of December 31, 2022, June 30, 2023 University of Pittsburgh Pursuant to an exclusive license agreement dated February 11, 2020 August 17, 2022, November 3, 2022, first three first first 1 20 first $25,000 three six June 30, 2023 three six June 30, 2022 June 30, 2023 Pursuant to an exclusive license agreement dated November 22, 2022 first three first first 1 20 first three six June 30, 2023 not three six June 30, 2022 June 30, 2023 Pursuant to an exclusive license agreement dated December 29, 2022 first three first first 2 20 first three six June 30, 2023 not three six June 30, 2022 June 30, 2023 Contract Development and Manufacturing Organization We entered into a three July 2022, January 2023 March 2023, three six June 30, 2023 not three six June 30, 2022 June 30, 2023 Contingencies From time to time, we may not |
Note 8 - Significant Events
Note 8 - Significant Events | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Effect of Covid 19 Pandemic [Text Block] | Note 8 Effects of the COVID- 19 may March 31, 2021, not 19 June 2021, 19 |
Note 9 - Subsequent Events
Note 9 - Subsequent Events | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 9 Share Issuance On July 3, 2023, License Agreement On July 14, 2023, 1 2 Pdx1 July 2023 On July 21, 2023, July 18, 2028. may Warrant Issuances On July 1, 2023, August 3, 2023, August 10, 2023, Option Exercise On August 16, 2023, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of our unaudited condensed financial statements in conformity with U.S. GAAP requires us 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 unaudited condensed financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents We consider all highly liquid short-term investments with an initial maturity of three $250,000 June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 |
Earnings Per Share, Policy [Policy Text Block] | Net Loss Per Share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the period, without consideration for potential dilutive shares of common stock, which includes common stock equivalents consisting of (i) 17,453,229 unexercised options granted by our board of directors and warrants to purchase shares of common stock, and (ii) 2,284,580 unvested restricted stock units to purchase shares of common stock granted by our board of directors. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The carrying amounts reported in the balance sheet for cash, money-market savings account, accounts receivable, and accounts payables approximate fair value because of the immediate or short-term maturity of these financial instruments. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Furniture and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, which range from three five |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Costs Research and development expenditures consist of costs incurred to conduct research, develop engineering materials for further study, and develop clinical strategies for current and future programs. These costs include payments to collaborative research partners, manufacturing partners and consultants, and clinical strategy partners, wages and associated employee benefits, facilities, and overhead costs. These expenditures relate to our preclinical and Phase 1/2 Research and development supplies purchased and capitalized for future use were $2,770,955 and $2,864,937 at June 30, 2023 December 31, 2022 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intellectual Property Intellectual property consists of legal and related costs associated with patents and other proprietary technology and rights developed, acquired, licensed by, or maintained by us that we believe contribute to a probable economic benefit toward such patents and activities. These costs incurred in connection with obtaining and maintaining intellectual property protection, such as patent applications and patent maintenance, are capitalized. Intellectual property is stated at cost, to be amortized on a straight-line basis over the estimated useful lives of the assets. |
Share-Based Payment Arrangement [Policy Text Block] | Accounting for Stock-Based Compensation We use the fair value-based method of accounting for stock-based compensation for options granted to employees, independent consultants and contractors. We measure options granted at fair value determined as of the grant date and recognize the expense over the periods in which the options vest or are expected to vest and related services are rendered based on the terms and conditions of the award. Generally, where the award only has a service condition, the requisite service period is the same as the vesting period. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets We review long-lived assets and certain identifiable intangibles held and used for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not six June 30, 2023 December 31, 2022 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Developments Accounting pronouncements issued but not June 30, 2023 not |
Note 4 - Equity (Tables)
Note 4 - Equity (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | 2023 2022 Number of Weighted Average Number of Weighted Average Warrants Exercise Price Warrants Exercise Price Outstanding at January 1, 2,147,778 $ 4.32 2,204,747 $ 4.39 Warrants issued 3,839,524 1.10 — — Warrants exercised 38,400 6.25 — — Outstanding at March 31, 5,948,902 $ 2.23 2,204,747 $ 4.39 Warrants exercised — — 13,643 0.50 Warrants cancelled or expired — — 112,993 4.47 Outstanding at June 30, 5,948,902 $ 2.23 2,078,111 $ 4.41 Vested at June 30, 22,500 1.50 — — Exercisable at June 30, 5,728,069 $ 2.23 1,844,776 $ 4.66 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Expected term (in years): 0 2.5 - 3.0 Risk-free rate: 0% 4.99% - 5.06% Volatility: 0.00% 83.14% Dividend yield: 0% 0% Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Expected term (in years): 6.0 6.0 Risk-free rate: 4.60% – 4.73% 4.60% – 4.73% Volatility: 83.42% 83.14% - 83.42% Dividend yield: 0% 0% |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | 2023 2022 Number of Weighted Average Number of Weighted Average Options Exercise Price Options Exercise Price Outstanding at January 1, 11,374,327 $ 3.08 8,574,301 $ 3.35 Options granted 82,500 1.43 2,404,562 2.30 Options expired or cancelled — — 17,500 2.00 Outstanding at March 31, 11,456,827 $ 3.07 10,961,363 $ 3.13 Options granted 47,500 0.85 487,604 1.59 Outstanding at June 30, 11,504,327 $ 3.06 11,448,967 $ 3.06 Vested at June 30, 582,981 2.02 235,465 3.32 Exercisable at June 30, 8,722,617 $ 3.16 6,166,620 $ 3.20 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | 2023 Number of Weighted Average Units Grant Date Fair Value Outstanding at January 1, — — Restricted stock units granted 1,913,195 1.65 Outstanding at March 31, 1,913,195 $ 1.65 Restricted stock units granted 371,385 0.74 Outstanding at June 30, 2,284,580 $ 1.50 Vested at June 30, — — Expected to vest at June 30, 2,284,580 $ 1.50 |
Note 1 - Description of Busin_2
Note 1 - Description of Business and Basis of Presentation (Details Textual) $ in Millions | Jul. 21, 2023 USD ($) |
July 2023 Registered Direct Offering [Member] | Subsequent Event [Member] | |
Proceeds from Issuance or Sale of Equity | $ 6.7 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Cash, Uninsured Amount | $ 9,718,036 | $ 20,679,538 |
Cash Equivalents, at Carrying Value | 0 | 0 |
Research and Development Assets, Current | 2,770,955 | 2,864,937 |
Impairment, Long-Lived Asset, Held-for-Use, Total | $ 0 | $ 0 |
Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |
Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |
Options and Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 17,453,229 | |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2,284,580 |
Note 4 - Equity (Details Textua
Note 4 - Equity (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||
Jul. 21, 2023 | Jul. 03, 2023 | Mar. 01, 2023 | Jan. 01, 2023 | Nov. 18, 2022 | Jan. 01, 2022 | Apr. 03, 2018 | Jun. 30, 2023 | Mar. 31, 2023 | Mar. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 5,948,902 | 5,948,902 | ||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | 5 years | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.23 | $ 2.23 | $ 4.41 | $ 4.39 | $ 2.23 | $ 4.41 | $ 4.32 | $ 4.39 | ||||||||
Proceeds from Issuance of Common Stock | $ 4,080,780 | $ 0 | ||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 4,400 | $ 7,950 | $ 17,972 | $ 17,500 | ||||||||||||
Stock Issued During Period, Shares, Exercise of Cashless Warrants (in shares) | 13,643 | |||||||||||||||
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | ||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | 0 | |||||||||||||
Common Stock, Shares Authorized (in shares) | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | ||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||
Common Stock, Shares, Outstanding (in shares) | 51,979,078 | 51,979,078 | 48,105,962 | |||||||||||||
Class of Warrant or Right, Issued in Period (in shares) | 0 | 3,839,524 | 0 | 0 | ||||||||||||
Class of Warrant or Right, Vesting Period (Month) | 12 months | |||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 11,504,327 | 11,456,827 | 11,448,967 | 10,961,363 | 11,504,327 | 11,448,967 | 11,374,327 | 8,574,301 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 3.06 | $ 3.07 | $ 3.06 | $ 3.13 | $ 3.06 | $ 3.06 | $ 3.08 | $ 3.35 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 47,500 | 82,500 | 487,604 | 2,404,562 | 130,000 | 2,892,166 | ||||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 0.85 | $ 1.43 | $ 1.59 | $ 2.30 | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period (in shares) | 17,500 | 17,500 | ||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price (in dollars per share) | $ 2 | $ 2 | ||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 6 years 7 months 13 days | 7 years 29 days | ||||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 5,948,902 | 5,948,902 | 2,078,111 | 2,204,747 | 5,948,902 | 2,078,111 | 2,147,778 | 2,204,747 | ||||||||
The 2018 Equity Incentive Plan [Member] | ||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 2,405,298 | 2,393,735 | 4,160,000 | |||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award, Percentage Applied on Outstanding Shares of Common Stock For Automatically Increase on Each Year | 5% | |||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 424,990 | 424,990 | ||||||||||||||
The 2009 Plan [Member] | ||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 2,628,749 | |||||||||||||||
The 2018 Employee Stock Purchase Plan [Member] | ||||||||||||||||
Share Based Compensation Arrangement By Share Based Payment Award, Percentage Applied on Outstanding Shares of Common Stock For Automatically Increase on Each Year | 2% | |||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 208,050 | |||||||||||||||
Time Based Options [Member] | ||||||||||||||||
Share-based Payment Arrangement, Expense, Future Milestone | $ 13,408 | $ 0 | ||||||||||||||
Performance Shares [Member] | ||||||||||||||||
Share-based Payment Arrangement, Expense, Future Milestone | $ 300,000 | |||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 0 | 0 | ||||||||||||||
Share-Based Payment Arrangement, Option [Member] | ||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value | $ 1,500,000 | $ 1,200,000 | $ 2,900,000 | $ 2,200,000 | ||||||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 7,300,000 | $ 7,300,000 | ||||||||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 6 months 3 days | |||||||||||||||
Scientific Advisory Board Chairman [Member] | ||||||||||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 5,000 | 5,000 | 10,000 | 10,000 | ||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 4,400 | $ 11,150 | $ 12,350 | $ 28,650 | ||||||||||||
Maximum [Member] | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 7.22 | $ 7.22 | ||||||||||||||
Warrants or Rights, Fair Value Per Share (in dollars per share) | 4.63 | $ 4.63 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 48 months | |||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | 9.80 | $ 9.80 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value (in dollars per share) | 7.93 | |||||||||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | 0.88 | $ 2.85 | 1.51 | $ 3.50 | ||||||||||||
Weighted Average [Member] | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | 2.23 | 2.23 | ||||||||||||||
Minimum [Member] | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | 1.10 | 1.10 | ||||||||||||||
Warrants or Rights, Fair Value Per Share (in dollars per share) | 0.60 | $ 0.60 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 12 months | |||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | 0.30 | $ 0.30 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value (in dollars per share) | 0.24 | |||||||||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 0.81 | $ 1.36 | $ 0.81 | $ 1.36 | ||||||||||||
Subsequent Event [Member] | Scientific Advisory Board Chairman [Member] | ||||||||||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 5,000 | |||||||||||||||
Warrants Issued with Registered Direct Offering [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 3,809,524 | |||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.10 | |||||||||||||||
Warrants Issued with Registered Direct Offering [Member] | Subsequent Event [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 7,425,744 | |||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.885 | |||||||||||||||
Warrant For Service Provider [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 30,000 | 30,000 | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.65 | $ 1.65 | ||||||||||||||
Warrant For Service Provider 2 [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 3,809,524 | 3,809,524 | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.10 | $ 1.10 | ||||||||||||||
Vesting of Warrants For Service Provider [Member] | ||||||||||||||||
Share-Based Payment Arrangement, Expense | $ 34,010 | $ 77,311 | $ 112,993 | |||||||||||||
Performance-based Warrant [Member] | ||||||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 1 | 1 | ||||||||||||||
Warrant, Nonvested Award, Cost Not yet Recognized, Amount | $ 300,000 | $ 300,000 | ||||||||||||||
Registered Direct Offering [Member] | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 3,809,524 | |||||||||||||||
Equity Offering, Combined Purchase Price (in dollars per share) | $ 1.05 | |||||||||||||||
Proceeds from Issuance or Sale of Equity | $ 3,600,000 | |||||||||||||||
Payments of Stock Issuance Costs | $ 400,000 | |||||||||||||||
July 2023 Registered Direct Offering [Member] | Subsequent Event [Member] | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 7,425,744 | |||||||||||||||
Proceeds from Issuance or Sale of Equity | $ 6,700,000 | |||||||||||||||
Payments of Stock Issuance Costs | $ 800,000 | |||||||||||||||
The 2022 ATM Facility [Member] | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 3,886 | 0 | 53,592 | |||||||||||||
Brokerage Commissions, Percentage of Gross Proceeds | 3% | |||||||||||||||
Proceeds from Issuance of Common Stock | $ 4,532 | $ 78,355 | ||||||||||||||
The 2022 ATM Facility [Member] | Maximum [Member] | ||||||||||||||||
Common Stock, Shares Authorized, Value | $ 50,000,000 |
Note 4 - Equity - Common Stock
Note 4 - Equity - Common Stock Purchase Warrant Activity (Details) - $ / shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | |
Outstanding, number of warrants (in shares) | 5,948,902 | 2,147,778 | 2,204,747 | 2,204,747 | 2,204,747 |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.23 | $ 4.32 | $ 4.39 | $ 4.39 | $ 4.39 |
Warrants issued, number of warrants (in shares) | 0 | 3,839,524 | 0 | 0 | |
Warrants issued, weighted average exercise price (in dollars per share) | $ 1.10 | ||||
Exercised, number of warrants (in shares) | 38,400 | 13,643 | |||
Exercised, weighted average exercise price (in dollars per share) | $ 6.25 | $ 0.50 | |||
Warrants cancelled or expired, number of warrants (in shares) | 112,993 | ||||
Warrants cancelled or expired, weighted average exercise price (in dollars per share) | $ 4.47 | ||||
Outstanding, number of warrants (in shares) | 5,948,902 | 5,948,902 | 2,078,111 | 2,204,747 | 2,078,111 |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.23 | $ 2.23 | $ 4.41 | $ 4.39 | $ 4.41 |
Vested, number of warrants (in shares) | 22,500 | ||||
Vested, weighted average exercise price (in dollars per share) | $ 1.50 | ||||
Exercisable, number of warrants (in shares) | 5,728,069 | 1,844,776 | 1,844,776 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 2.23 | $ 4.66 | $ 4.66 |
Note 4 - Equity - Assumptions (
Note 4 - Equity - Assumptions (Details) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2023 | Jun. 30, 2023 | |
Expected term (in years): (Year) | 0 years | |
Risk-free rate: | 0% | |
Volatility: | 0% | 83.14% |
Dividend yield: | 0% | 0% |
Share-Based Payment Arrangement, Option [Member] | ||
Expected term (in years): (Year) | 6 years | 6 years |
Volatility: | 83.42% | |
Dividend yield: | 0% | 0% |
Minimum [Member] | ||
Expected term (in years): (Year) | 2 years 6 months | |
Risk-free rate: | 4.99% | |
Minimum [Member] | Share-Based Payment Arrangement, Option [Member] | ||
Risk-free rate: | 4.60% | 4.60% |
Volatility: | 83.14% | |
Maximum [Member] | ||
Expected term (in years): (Year) | 3 years | |
Risk-free rate: | 5.06% | |
Maximum [Member] | Share-Based Payment Arrangement, Option [Member] | ||
Risk-free rate: | 4.73% | 4.73% |
Volatility: | 83.42% |
Note 4 - Equity - Stock Option
Note 4 - Equity - Stock Option Activity (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Mar. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Outstanding, number of shares (in shares) | 11,374,327 | 10,961,363 | 8,574,301 | 11,374,327 | 8,574,301 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.08 | $ 3.13 | $ 3.35 | $ 3.08 | $ 3.35 | |
Options granted, number of shares (in shares) | 47,500 | 82,500 | 487,604 | 2,404,562 | 130,000 | 2,892,166 |
Options granted, weighted average exercise price (in dollars per share) | $ 0.85 | $ 1.43 | $ 1.59 | $ 2.30 | ||
Options expired or cancelled, number of shares (in shares) | 17,500 | 17,500 | ||||
Options expired or cancelled, weighted average exercise price (in dollars per share) | $ 2 | $ 2 | ||||
Outstanding, number of shares (in shares) | 11,504,327 | 11,456,827 | 11,448,967 | 10,961,363 | 11,504,327 | 11,448,967 |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.06 | $ 3.07 | $ 3.06 | $ 3.13 | $ 3.06 | $ 3.06 |
Vested or expected to vest, number of shares (in shares) | 582,981 | 235,465 | 582,981 | 235,465 | ||
Vested or expected to vest, weighted average exercise price (in dollars per share) | $ 2.02 | $ 3.32 | $ 2.02 | $ 3.32 | ||
Exercisable, number of shares (in shares) | 8,722,617 | 6,166,620 | 8,722,617 | 6,166,620 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 3.16 | $ 3.20 | $ 3.16 | $ 3.20 |
Note 4 - Equity - Restricted St
Note 4 - Equity - Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 3 Months Ended | |
Jun. 30, 2023 | Mar. 31, 2023 | |
Outstanding, shares (in shares) | 1,913,195 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 1.65 | |
Restricted stock units granted, shares (in shares) | 371,385 | 1,913,195 |
Restricted stock units granted, weighted average grant date fair value (in dollars per share) | $ 0.74 | $ 1.65 |
Outstanding, shares (in shares) | 2,284,580 | 1,913,195 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 1.50 | $ 1.65 |
Expected to vest at June 30, (in shares) | 2,284,580 | |
Expected to vest at June 30, (in dollars per share) | $ 1.50 |
Note 5 - 401(k) Savings Trans_2
Note 5 - 401(k) Savings Transactions (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Defined Contribution Plan, Cost | $ 27,758 | $ 22,048 | $ 90,806 | $ 25,752 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2022 | Jul. 31, 2018 | Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2017 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2009 | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 29, 2022 | Nov. 22, 2022 | Mar. 03, 2021 | Feb. 11, 2020 | |
Costs and Expenses | $ 8,035,744 | $ 5,770,387 | $ 17,306,988 | $ 11,081,083 | ||||||||||
Other Commitment, Total | $ 340,000 | |||||||||||||
License Agreement Terms [Member] | ||||||||||||||
Costs and Expenses | 45,000 | 40,000 | 45,000 | 90,000 | ||||||||||
Contract Payments Incurred and Paid | 320,000 | |||||||||||||
License Agreement Milestone Payment | $ 6,150,000 | |||||||||||||
National Institute of Health [Member] | ||||||||||||||
Royalty on Sales, Percentage | 1% | |||||||||||||
Royalty Term (Year) | 21 years | |||||||||||||
Royalty Payment, Annual Minimum | $ 20,000 | |||||||||||||
Payment for Contingent Consideration Liability, Operating Activities | $ 240,000 | |||||||||||||
Contingent Payments Annual Increase | $ 20,000 | |||||||||||||
Research Agreement [Member] | MD Anderson [Member] | ||||||||||||||
Long Term Contract, Estimated Cost | $ 2,900,000 | $ 2,000,000 | ||||||||||||
Costs and Expenses | 240,000 | 0 | 480,000 | 0 | ||||||||||
Contract Payments Incurred and Paid | 720,000 | |||||||||||||
License Agreement [Member] | University of Pittsburgh [Member] | ||||||||||||||
Licensing Fee, Amount | $ 25,000 | |||||||||||||
Annual Maintenance Fee, First Three Years, Amount | 25,000 | |||||||||||||
Annual Maintenance Fee, After Year Three, Amount | 40,000 | |||||||||||||
Annual Royalty Payment Per Year, Minimum | $ 250,000 | |||||||||||||
Share of Non-Royalty Sublicense Income, Percent | 20% | |||||||||||||
License Agreement [Member] | University of Pittsburgh [Member] | Dosing of First Human Patient in a Phase I Clinical Trial [Member] | ||||||||||||||
Costs and Expenses | 25,000 | 25,000 | 25,000 | 25,000 | ||||||||||
Contract Payments Incurred and Paid | 110,000 | |||||||||||||
Milestone Payment | $ 3,975,000 | |||||||||||||
License Agreement [Member] | University of Pittsburgh [Member] | Usage of a Glucagon Promoter and Gene Therapy Technologies to Potentially Treat Type 1 Diabetes [Member] | ||||||||||||||
Costs and Expenses | 25,000 | 0 | 25,000 | 0 | ||||||||||
Contract Payments Incurred and Paid | 25,000 | |||||||||||||
Licensing Fee, Amount | $ 25,000 | |||||||||||||
Annual Maintenance Fee, First Three Years, Amount | 25,000 | |||||||||||||
Annual Maintenance Fee, After Year Three, Amount | 40,000 | |||||||||||||
Annual Royalty Payment Per Year, Minimum | $ 250,000 | |||||||||||||
Share of Non-Royalty Sublicense Income, Percent | 20% | |||||||||||||
Milestone Payment | $ 3,975,000 | |||||||||||||
License Agreement [Member] | University of Pittsburgh [Member] | Usage of a Glucagon Promoter and Gene Therapy Technologies to Potentially Treat Type 2 Diabetes [Member] | ||||||||||||||
Costs and Expenses | 25,000 | 0 | 0 | |||||||||||
Contract Payments Incurred and Paid | 25,000 | |||||||||||||
Licensing Fee, Amount | $ 25,000 | |||||||||||||
Annual Maintenance Fee, First Three Years, Amount | 25,000 | |||||||||||||
Annual Maintenance Fee, After Year Three, Amount | 40,000 | |||||||||||||
Annual Royalty Payment Per Year, Minimum | $ 250,000 | |||||||||||||
Share of Non-Royalty Sublicense Income, Percent | 20% | |||||||||||||
Milestone Payment | $ 3,975,000 | |||||||||||||
License Agreement [Member] | University of Pittsburgh [Member] | Minimum [Member] | ||||||||||||||
Royalty Percent, Licensed Technology Covered by Patent | 1.50% | |||||||||||||
License Agreement [Member] | University of Pittsburgh [Member] | Minimum [Member] | Usage of a Glucagon Promoter and Gene Therapy Technologies to Potentially Treat Type 1 Diabetes [Member] | ||||||||||||||
Royalty Percent, Licensed Technology Covered by Patent | 1.50% | |||||||||||||
License Agreement [Member] | University of Pittsburgh [Member] | Minimum [Member] | Usage of a Glucagon Promoter and Gene Therapy Technologies to Potentially Treat Type 2 Diabetes [Member] | ||||||||||||||
Royalty Percent, Licensed Technology Covered by Patent | 1.50% | |||||||||||||
License Agreement [Member] | University of Pittsburgh [Member] | Maximum [Member] | ||||||||||||||
Royalty Percent, Licensed Technology Covered by Patent | 3% | |||||||||||||
License Agreement [Member] | University of Pittsburgh [Member] | Maximum [Member] | Usage of a Glucagon Promoter and Gene Therapy Technologies to Potentially Treat Type 1 Diabetes [Member] | ||||||||||||||
Royalty Percent, Licensed Technology Covered by Patent | 3% | |||||||||||||
License Agreement [Member] | University of Pittsburgh [Member] | Maximum [Member] | Usage of a Glucagon Promoter and Gene Therapy Technologies to Potentially Treat Type 2 Diabetes [Member] | ||||||||||||||
Royalty Percent, Licensed Technology Covered by Patent | 3% | |||||||||||||
Development and Manufacturing of GMP Grade Materials [Member] | ||||||||||||||
Costs and Expenses | $ 2,300,000 | $ 0 | 1,900,000 | $ 0 | ||||||||||
Contract Payments Incurred and Paid | $ 2,400,000 | |||||||||||||
Development Services Agreement, Expected Total Project Cost | $ 4,500,000 |
Note 9 - Subsequent Events (Det
Note 9 - Subsequent Events (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||||||||
Aug. 16, 2023 | Jul. 21, 2023 | Jul. 03, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Aug. 10, 2023 | Aug. 03, 2023 | Jul. 01, 2023 | Mar. 31, 2023 | Mar. 01, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 5,948,902 | 5,948,902 | |||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | 5 years | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.23 | $ 4.41 | $ 2.23 | $ 4.41 | $ 2.23 | $ 4.32 | $ 4.39 | $ 4.39 | |||||||
Warrants Issued with Registered Direct Offering [Member] | |||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 3,809,524 | ||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.10 | ||||||||||||||
Scientific Advisory Board Chairman [Member] | |||||||||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 5,000 | 5,000 | 10,000 | 10,000 | |||||||||||
Subsequent Event [Member] | Warrants Issued with Registered Direct Offering [Member] | |||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 7,425,744 | ||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.885 | ||||||||||||||
Subsequent Event [Member] | Placement Agent Warrants [Member] | |||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 445,545 | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.2625 | ||||||||||||||
Subsequent Event [Member] | Consultant Warrants [Member] | |||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 75,000 | 15,000 | 50,000 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.64 | $ 0.73 | $ 0.95 | ||||||||||||
Subsequent Event [Member] | July 2023 Registered Direct Offering [Member] | |||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 7,425,744 | ||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.01 | ||||||||||||||
Proceeds from Issuance or Sale of Equity | $ 6,700,000 | ||||||||||||||
Payments of Stock Issuance Costs | $ 800,000 | ||||||||||||||
Subsequent Event [Member] | Scientific Advisory Board Chairman [Member] | |||||||||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 5,000 | ||||||||||||||
Subsequent Event [Member] | Former Board Member [Member] | |||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 20,000 | ||||||||||||||
Stock Issued During Period, Value, Stock Options Exercised | $ 5,960 |