Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Mar. 14, 2022 | Jun. 30, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001659617 | ||
Entity Registrant Name | Moleculin Biotech, Inc. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 001-37758 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 47-4671997 | ||
Entity Address, Address Line One | 5300 Memorial Drive, Suite 950 | ||
Entity Address, City or Town | Houston | ||
Entity Address, State or Province | TX | ||
Entity Address, Postal Zip Code | 77007 | ||
City Area Code | 713 | ||
Local Phone Number | 300-5160 | ||
Title of 12(b) Security | Common Stock, par value $0.001 per share | ||
Trading Symbol | MBRX | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
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 | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 101,000,000 | ||
Entity Common Stock, Shares Outstanding | 28,578,338 | ||
Auditor Name | GRANT THORNTON LLP | ||
Auditor Location | Houston, Texas | ||
Auditor Firm ID | 248 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current Assets: | ||
Cash and cash equivalents | $ 70,903 | $ 15,173 |
Prepaid expenses and other current assets | 1,594 | 2,025 |
Total current assets | 72,497 | 17,198 |
Furniture and equipment, net of accumulated depreciation of $638 and $474, respectively | 338 | 483 |
Intangible assets | 11,148 | 11,148 |
Operating lease right-of-use asset | 107 | 202 |
Total Assets | 84,090 | 29,031 |
Current Liabilities: | ||
Accounts payable | 1,364 | 1,129 |
Accrued expenses and other current liabilities | 2,258 | 1,791 |
Total current liabilities | 3,622 | 2,920 |
Operating lease liability - long-term, net of current portion | 63 | 159 |
Warrant liability - long-term | 1,412 | 8,192 |
Total Liabilities | 5,097 | 11,271 |
Commitments and contingencies (Note 8) | ||
Stockholders' Equity: | ||
Preferred stock, $0.001 par value; 5,000,000 authorized, no shares issued and outstanding | 0 | 0 |
Common stock, $0.001 par value; 100,000,000 authorized as of December 31, 2021 and December 31, 2020, 28,578,338 and 11,536,720 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively | 29 | 69 |
Additional paid-in capital | 151,733 | 74,671 |
Subscription receivable | 0 | (129) |
Accumulated other comprehensive income | 41 | 65 |
Accumulated deficit | (72,810) | (56,916) |
Total stockholders' equity | 78,993 | 17,760 |
Total liabilities and stockholders' equity | $ 84,090 | $ 29,031 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par or stated value per share (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 28,578,338 | 11,536,720 |
Common stock, shares outstanding (in shares) | 28,578,338 | 11,536,720 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue | $ 0 | $ 0 |
Operating expenses: | ||
Research and development | 14,418 | 12,757 |
General and administrative | 8,386 | 6,785 |
Depreciation and amortization | 164 | 200 |
Total operating expenses | 22,968 | 19,742 |
Loss from operations | (22,968) | (19,742) |
Other income: | ||
Gain from change in fair value of warrant liability | 6,728 | 2,346 |
Other income, net | 40 | 28 |
Interest income, net | 306 | 13 |
Net loss | $ (15,894) | $ (17,355) |
Net loss per common share - basic and diluted (in dollars per share) | $ (0.59) | $ (1.76) |
Weighted average common shares outstanding, basic and diluted (in shares) | 26,875,927 | 9,845,685 |
Net loss | $ (15,894) | $ (17,355) |
Other comprehensive (loss) income: | ||
Foreign currency translation | (24) | 34 |
Comprehensive loss | $ (15,918) | $ (17,321) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (15,894) | $ (17,355) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 164 | 200 |
Stock-based compensation | 2,373 | 1,680 |
Loss from sale of fixed assets | 0 | 6 |
Change in fair value of warrant liability | (6,728) | (2,346) |
Operating lease, net | 96 | 85 |
Changes in operating assets and liabilities: | ||
Prepaid expenses and other current assets | 431 | 724 |
Accounts payable | 235 | (1,024) |
Accrued expenses and other current liabilities | 372 | 259 |
Net cash used in operating activities | (18,951) | (17,771) |
Cash flows from investing activities: | ||
Purchase of fixed assets | (19) | (376) |
Proceeds from sale of fixed assets | 0 | 2 |
Net cash used in investing activities | (19) | (374) |
Cash flows from financing activities: | ||
Proceeds from exercise of warrants | 63 | 5 |
Payment of tax liability for vested restricted stock units | (23) | (17) |
Proceeds from sale of common stock, net of issuance costs | 74,684 | 22,561 |
Net cash provided by financing activities | 74,724 | 22,549 |
Effect of exchange rate changes on cash and cash equivalents | (24) | 34 |
Net change in cash and cash equivalents | 55,730 | 4,438 |
Cash and cash equivalents, at beginning of year | 15,173 | 10,735 |
Cash and cash equivalents, at end of year | 70,903 | 15,173 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 0 | 0 |
Cash paid for taxes | 15 | 24 |
Non-cash investing and financing activities: | ||
Purchases of property and equipment in accounts payable and accrued liabilities | 5 | 0 |
Subscription receivable | $ 0 | $ 129 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | February 2020 Stock Offering [Member]Common Stock [Member] | February 2020 Stock Offering [Member]Common Stock Subscribed [Member] | February 2020 Stock Offering [Member]Additional Paid-in Capital [Member] | February 2020 Stock Offering [Member]Retained Earnings [Member] | February 2020 Stock Offering [Member]AOCI Attributable to Parent [Member] | February 2020 Stock Offering [Member]Subscription Receivable [Member] | February 2020 Stock Offering [Member] | The 2019 ATM Agreement [Member]Common Stock [Member] | The 2019 ATM Agreement [Member]Common Stock Subscribed [Member] | The 2019 ATM Agreement [Member]Additional Paid-in Capital [Member] | The 2019 ATM Agreement [Member]Retained Earnings [Member] | The 2019 ATM Agreement [Member]AOCI Attributable to Parent [Member] | The 2019 ATM Agreement [Member]Subscription Receivable [Member] | The 2019 ATM Agreement [Member] | The 2020 ATM Agreement [Member]Common Stock [Member] | The 2020 ATM Agreement [Member]Common Stock Subscribed [Member] | The 2020 ATM Agreement [Member]Additional Paid-in Capital [Member] | The 2020 ATM Agreement [Member]Retained Earnings [Member] | The 2020 ATM Agreement [Member]AOCI Attributable to Parent [Member] | The 2020 ATM Agreement [Member]Subscription Receivable [Member] | The 2020 ATM Agreement [Member] | Lincoln Park Transaction [Member]Common Stock [Member] | Lincoln Park Transaction [Member]Common Stock Subscribed [Member] | Lincoln Park Transaction [Member]Additional Paid-in Capital [Member] | Lincoln Park Transaction [Member]Retained Earnings [Member] | Lincoln Park Transaction [Member]AOCI Attributable to Parent [Member] | Lincoln Park Transaction [Member]Subscription Receivable [Member] | Lincoln Park Transaction [Member] | Q1 2021 Stock Sale [Member]Common Stock [Member] | Q1 2021 Stock Sale [Member]Common Stock Subscribed [Member] | Q1 2021 Stock Sale [Member]Additional Paid-in Capital [Member] | Q1 2021 Stock Sale [Member]Retained Earnings [Member] | Q1 2021 Stock Sale [Member]AOCI Attributable to Parent [Member] | Q1 2021 Stock Sale [Member]Subscription Receivable [Member] | Q1 2021 Stock Sale [Member] | Equity Purchase Agreement [Member]Common Stock [Member] | Equity Purchase Agreement [Member]Common Stock Subscribed [Member] | Equity Purchase Agreement [Member]Additional Paid-in Capital [Member] | Equity Purchase Agreement [Member]Retained Earnings [Member] | Equity Purchase Agreement [Member]AOCI Attributable to Parent [Member] | Equity Purchase Agreement [Member]Subscription Receivable [Member] | Equity Purchase Agreement [Member] | Common Stock [Member] | Common Stock Subscribed [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Subscription Receivable [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 7,621,338 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2019 | $ 46 | $ 0 | $ 55,055 | $ (39,561) | $ 31 | $ 0 | $ 15,571 | ||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock, net of issuance costs (in shares) | 1,250,000 | 0 | 1,412,017 | 0 | 1,412,017 | 471,405 | 0 | 471,405 | 771,220 | 0 | |||||||||||||||||||||||||||||||||||||||
Issuance of common stock, net of issuance costs | $ 7 | $ 0 | $ 559 | $ 0 | $ 0 | $ 0 | $ 566 | $ 8 | $ 0 | $ 11,778 | $ 0 | $ 0 | $ 0 | $ 11,786 | $ 3 | $ 0 | $ 2,770 | $ 0 | $ 0 | $ 0 | $ 2,773 | $ 5 | $ 0 | $ 2,708 | $ 0 | $ 0 | $ 0 | $ 2,713 | |||||||||||||||||||||
Subscription of common stock in connection with the 2020 ATM Agreement, net of commissions (in shares) | 0 | 26,966 | |||||||||||||||||||||||||||||||||||||||||||||||
Subscription of common stock in connection with the 2020 ATM Agreement, net of commissions | $ 0 | $ 0 | 129 | 0 | 0 | (129) | 0 | ||||||||||||||||||||||||||||||||||||||||||
Warrants exercised (in shares) | 750 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercised | $ 0 | $ 0 | 9 | 0 | 0 | 0 | 9 | ||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon vesting of restricted stock units (net of shares withheld for payment of tax liability) (in shares) | 9,990 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon vesting of restricted stock units (net of shares withheld for payment of tax liability) | $ 0 | $ 0 | (17) | 0 | 0 | 0 | (17) | ||||||||||||||||||||||||||||||||||||||||||
Stock based compensation | 1,680 | 1,680 | |||||||||||||||||||||||||||||||||||||||||||||||
Consolidated net loss | 0 | 0 | 0 | (17,355) | 0 | 0 | (17,355) | ||||||||||||||||||||||||||||||||||||||||||
Cumulative translation adjustment | 0 | 0 | 0 | 34 | 0 | 34 | |||||||||||||||||||||||||||||||||||||||||||
Net loss | $ 0 | $ 0 | 0 | (17,355) | 0 | 0 | (17,355) | ||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2020 | 11,536,720 | 26,966 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2020 | $ 69 | $ 0 | 74,671 | (56,916) | 65 | (129) | 17,760 | ||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock, net of issuance costs (in shares) | 16,883,420 | (26,966) | 107,788 | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock, net of issuance costs | $ 18 | $ 0 | $ 74,537 | $ 0 | $ 0 | $ 129 | $ 74,684 | $ 1 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 1 | |||||||||||||||||||||||||||||||||||
Warrants exercised (in shares) | 10,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercised | $ 1 | $ 0 | 115 | 0 | 0 | 0 | 116 | ||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon vesting of restricted stock units (net of shares withheld for payment of tax liability) (in shares) | 21,125 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued upon vesting of restricted stock units (net of shares withheld for payment of tax liability) | $ 0 | $ 0 | (23) | 0 | 0 | 0 | (23) | ||||||||||||||||||||||||||||||||||||||||||
Stock based compensation | 0 | 0 | 2,368 | 0 | 0 | 0 | 2,368 | ||||||||||||||||||||||||||||||||||||||||||
Consolidated net loss | 0 | 0 | 0 | (15,894) | 0 | 0 | (15,894) | ||||||||||||||||||||||||||||||||||||||||||
Cumulative translation adjustment | $ 0 | $ 0 | 0 | (24) | 0 | (24) | |||||||||||||||||||||||||||||||||||||||||||
Reverse stock split (in shares) | 14,285 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
Reverse stock split | $ (60) | $ 0 | 60 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with Consulting Agreement (in shares) | 5,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock in connection with Consulting Agreement | $ 0 | $ 0 | 5 | 0 | 0 | 0 | 5 | ||||||||||||||||||||||||||||||||||||||||||
Net loss | $ 0 | $ 0 | 0 | (15,894) | 0 | 0 | (15,894) | ||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2021 | 28,578,338 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2021 | $ 29 | $ 0 | $ 151,733 | $ (72,810) | $ 41 | $ 0 | $ 78,993 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
February 2020 Stock Offering [Member] | ||
Issued for cash - sale of common stock, issuance costs | $ 709 | |
The 2019 ATM Agreement [Member] | ||
Issued for cash - sale of common stock, issuance costs | 471 | |
The 2020 ATM Agreement [Member] | ||
Issued for cash - sale of common stock, issuance costs | 108 | |
Lincoln Park Transaction [Member] | ||
Issued for cash - sale of common stock, issuance costs | $ 575 | |
Q1 2021 Stock Sale [Member] | ||
Issued for cash - sale of common stock, issuance costs | $ 6,159 | |
Equity Purchase Agreement [Member] | ||
Issued for cash - sale of common stock, issuance costs | $ 403 |
Note 1 - Nature of Business
Note 1 - Nature of Business | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Nature of Business and Liquidity [Text Block] | 1. The terms “MBI” or “the Company”, “we”, “our” and “us” are used herein to refer to Moleculin Biotech, Inc. MBI is a clinical-stage pharmaceutical company, organized as a Delaware corporation in July 2015, June 2018, July 2021, In 2019, 29 December 2021. 2019, The Company has three six three The Company’s core technologies consist of the following: a) Annamycin; b) WP1066 WP1122 WP1066, WP1220, WP1122. 1 WP1220 2021 2022, three WP1066. not The Company does not third not |
Note 2 - Basis of Presentation,
Note 2 - Basis of Presentation, Principles of Consolidation and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Reverse Stock Split January 29, 2021, 1 6. 10 may Basis of Presentation - Principles of consolidation one 280, one Use of Estimates - may may may Liquidity and Financial Condition early stage company an not e companies. S December 31, 2021 2020 million a of million a December 31, 2021 million an million. T December 31, 2021 not no Cash and Cash Equivalents - one may not not Prepaid Expenses and Other Current Assets - December 31, 2021 2020 Prepaid insurance $ 589 $ 579 Vendor prepayments and deposits 486 1,281 Prepaid sponsored research 474 164 Non-trade receivables 23 1 Related party receivables 22 — Total prepaid expenses and other current assets $ 1,594 $ 2,025 Vendor prepayments at December 31, 2021 2020 zero 2021 Property and equipment - Years Leasehold improvements Shorter of estimated useful lives or the term of the lease Computer equipment 2 Software 3 Machinery and equipment 2 5 Furniture and office equipment 2 7 Intangible assets - Operating Lease Right-of-Use Asset - may not 12 8 Sublicense Arrangement - not Fair Value of Financial instruments - The Company has categorized its assets and liabilities that are valued at fair value on a recurring basis into three 1 3 Assets and liabilities recorded in the balance sheets at fair value are categorized based on a hierarchy of inputs as follows: Level 1 Level 2 Level 3 The Company’s financial assets and liabilities recorded at fair value on a recurring basis include the fair value of our warrant liability discussed in Note 5. The following table provides the financial assets and liabilities reported at fair value and measured on a recurring basis at December 31, 2021 2020 Description Liabilities Measured at Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Fair value of warrant liability: December 31, 2021 $ 1,412 $ — $ — $ 1,412 December 31, 2020 $ 8,192 $ — $ — $ 8,192 The following table provides a summary of changes in fair value associated with the Level 3 December 31, 2021 2020 Warrant Liability Long-Term December 31, 2019 $ 5,818 Exercise of warrants (4 ) Issuances of warrants 4,724 Change in fair value - net (2,346 ) December 31, 2020 $ 8,192 Exercise of warrants (52 ) Change in fair value - net (6,728 ) December 31, 2021 $ 1,412 The above table of Level 3 December 31, 2019 3 may not not Income Taxes - not not The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740 10 not Translation of Foreign Currencies Stock-based Compensation - 718, 718 718 not January 1, 2020, Loss Per Common Share December 31, 2021 2020 ly 4.3 million an Research and Development Costs - Subsequent Events - 9 Recent Accounting Pronouncements In August 2020, No. 2020 06, 470 20 815 40 2020 06 2020 06 January 1, 2022 January 1, 2022 not In May 2021, No. 2021 04, 260 470 50 718 815 40 2021 04 December 15, 2021, The Company’s adoption of this pronouncement effective January 1, 2022 not The Company does not not |
Note 3 - Intangible Assets
Note 3 - Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 3. In conjunction with its acquisition of Moleculin, LLC in 2016, WP1066 WP1066 not December 31, 2021 2020 |
Note 4 - Accrued Expenses and O
Note 4 - Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | 4. Accrued expenses and other current liabilities at December 31, 2021 2020 December 31, 2021 2020 Accrued research and development $ 1,005 $ 907 Accrued payroll and bonuses 606 426 Accrued legal, regulatory, professional and other 442 262 Accrued liabilities due to related party 109 78 Operating lease liability - current 96 118 Total accrued expenses and other current liabilities $ 2,258 $ 1,791 Additionally, accounts payable includes $48,000 as of December 31, 2021 2020 |
Note 5 - Warrants
Note 5 - Warrants | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Warrants Disclosure [Text Block] | 5. Upon its issuance of warrants to purchase shares of common stock, the Company evaluates the terms of the warrant issue to determine the appropriate accounting and classification of the warrant issue pursuant to FASB ASC Topic 480, 505, 815, 718, may Liability classified warrants are valued at fair value at the date of issue and at each reporting date pursuant to FASB ASC 820, 820 Equity classified warrants issued to non-employees in exchange for services are accounted for in accordance with ASC 718 2. At December 31, 2021 2020 Number of Shares Under Outstanding Warrants at December 31, 2021 Number of Shares Under Outstanding Warrants at December 31, 2020 Weighted Average Exercise Price at December 31, 2021 Remaining Contractual Life at December 31, 2021 (Years) Liability Classified Warrants (1) Issued February 2017 67,349 67,349 $ 8.42 0.1 Issued February 2018 378,951 378,951 16.80 1.6 Issued June 2018 (2) 123,836 123,836 12.20 1.9 Issued March 2019 263,507 263,507 6.60 2.2 Issued April 2019 875,001 875,001 10.50 2.3 Issued February 2020 1,015,001 1,025,001 6.30 3.6 2,723,645 2,733,645 $ 9.46 Equity Classified Warrants Issued May 2016 - Bonwick — 17,970 $ 45.00 — Issued July 2017 - Consulting (3) 25,001 25,001 15.64 0.6 Issued April 2018 - Consulting — 16,667 18.00 — Issued August 2019 - Consulting 25,000 25,000 9.84 0.6 Issued April 2020 - Consulting 16,667 16,667 6.84 3.3 Issued December 2020 - Consulting 8,334 8,334 4.72 4.0 Issued April 2021 - Consulting 71,500 — 3.63 4.3 Issued August 2021 - Consulting 250,000 — 3.08 9.6 396,502 109,639 $ 4.59 Balance outstanding 3,120,147 2,843,284 $ 8.51 ( 1 may March 2019 February 2017 may February 2017. ( 2 December 22, 2023, June 21, 2023. ( 3 Liability Classified Warrants The Company uses the Black-Scholes option pricing model (BSM) to determine the fair value of its warrants at the date of issue and outstanding at each reporting date. The risk-free interest rate assumption is based upon observed interest rates on zero Estimated volatility is a measure of the amount by which the Company's stock price is expected to fluctuate each year during the expected life of the warrants. Beginning in 2020, The assumptions used in determining the fair value of the Company’s outstanding liability classified warrants are as follows: Year Ended December 31, 2021 2020 Risk-free interest rate 0.1% to 1.1% 0.1% to 0.3% Volatility 71.8% to 114.5% 113.7% to 127.4% Expected life (years) 0.1 to 3.6 1.1 to 4.6 Dividend yield —% —% A summary of the Company's liability classified warrant activity during the year ended December 31, 2021 Number of Shares Under Warrant Range of Warrant Exercise Price per Share Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding at December 31, 2020 2,733,645 6.60 to 16.80 $ 9.45 3.6 Granted — 6.30 to 6.30 $ — — Exercised (10,000 ) 6.60 to 6.60 $ 6.60 — Expired — — $ — — Outstanding at December 31, 2021 2,723,645 6.30 to 16.80 $ 9.46 2.6 Vested and Exercisable at December 31, 2021 2,723,645 6.30 to 16.80 $ 9.46 2.6 In connection with the Company's stock offering that closed in February 2020, six five first February 2025. For a summary of the changes in fair value associated with our warrant liability for the years ended December 31, 2021 2020 2. Equity Classified Warrants In April 2021, five five August 2021, ten August 2021 50% not one 50% 60 one April 2021 August 2021 In December 2020, April 2020, At December 31, 2021 December 31, 2020 The Company recorded stock compensation expense for the non-employee consulting agreements o f $516,000 December 31, 2021 2020 December 31, 2021 $548,000 o |
Note 6 - Equity
Note 6 - Equity | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 6. Preferred Stock Our certificate of incorporation authorizes the Company to issue these shares in one No December 31, 2021 Common Stock February 2021 In February 2021, 30 February 2020 In February 2020, 5 December 31, 2020. Lincoln Park Equity Line In June 2021, 2021 June 2021 no In November 2020, 2020 2020 2020 2020 2020 may 2020 2020 2020 2020 2020 $22.0 December 31, 2020, 2020 February 2, 2021. At Market Issuance Sales Agreements (ATM) In June 2021, 2021 2021 may 2021 In January 2021 2020 2020 2020 February 2, 2021. In July 2020, 2020 2020 December 31, 2020, 2020 In addition, at December 31, 2020, 2020 December 31, 2020. 2020 February 2, 2021. In July 2019, 2019 2019 December 31, 2020, 2019 third 2020, 2019 Adoption of 2015 In December 2015, 2015 April 2016, April 2018, June 2020. December 5, 2025. 2015 June 15, 2020, 2015 2015 Stock-based Compensation and Outstanding Awards Under the terms of the Company’s 2015 June 2020, 2015 December 31, 2021 e 41,628 s 2015 Stock-based compensation expense for the years ended December 31, 2021 2020 Year Ended December 31, 2021 2020 General and administrative $ 1,461 $ 1,347 Research and development 912 333 Total stock-based compensation $ 2,373 $ 1,680 Each of the Company’s stock-based compensation arrangements are discussed below. Stock Options Stock option awards are generally granted with an exercise price equal to the market price of the Company’s stock at the date of grant. Stock option awards generally have a 10-year contractual term and vest over a 4-year period for employees and over a 1 to 3-year period for directors from the grant date on a straight-line basis over the requisite service period. The grant-date fair value of stock options is determined using the Black-Scholes option-pricing model. Additionally, the Company’s stock options provide for full vesting of unvested outstanding options, in the event of a change of control of the Company. The fair value of each stock option is estimated on the date of grant using the BSM model that uses the assumptions noted below. The expected term of the stock option awards was computed using the “plain vanilla” method as prescribed by the Securities and Exchange Commission Staff Accounting Bulletin 107 not 2020, The fair value of the option grants has been estimated, with the following weighted-average assumptions: Year Ended December 31, 2021 2020 Risk-free interest rate 0.9% to 1.4% 0.2% to 0.6% Volatility 114.8% to 118.8% 122.5% to 128.0% Expected life (years) 5.3 to 6.2 3.7 to 6.3 Expected dividend yield —% —% Stock option activity for the year ended December 31, 2021 Number of Shares Weighted Average Grant Date Fair Value Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding, December 31, 2020 903,487 $ 8.19 $ 11.24 7.9 $ — Granted 534,865 $ 3.23 $ 3.74 Exercised — $ — $ — Forfeited — $ — $ — Outstanding, December 31, 2021 1,438,352 $ 6.35 $ 8.45 7.8 $ — Exercisable, December 31, 2021 591,101 $ 9.44 $ 13.39 6.5 $ — Options granted during 2021 2020 of $1.7 million and $1.3 million, respectively, tha December 31, 2021 not $2.8 million an is 2.7 years. T December 31, 2021 2020 December 31, 2021, Restricted Stock Restricted stock units are granted with a grant date fair value determined using the closing price of the Company's common stock on the grant date. Restricted stock units vest annually in four Restricted stock unit activity for the year ended December 31, 2021 Number of Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term (years) Unvested Shares, December 31, 2020 98,482 $ 6.49 3.0 Granted 150,000 $ 3.73 Vested (27,923 ) $ 6.65 Unvested Shares, December 31, 2021 220,559 $ 4.59 3.0 As of December 31, 2021 not $0.8 million a 2.9 years. In J 2021, four |
Note 7 - Income Taxes
Note 7 - Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 7. The provision for income taxes consists of the following components (in thousands): Year Ended December 31, 2021 2020 Current expense (benefit): Federal $ — $ — State — — Foreign — — Current income tax benefit — — Deferred expense (benefit): Federal — — State — — Foreign — — Deferred income tax expense — — Total $ — $ — The following summarizes activity related to the Company’s valuation allowance (in thousands): Year Ended December 31, 2021 2020 Valuation allowance at beginning of period $ 13,867 $ 9,418 Income tax benefit 4,956 4,449 Release of valuation allowance — — Valuation allowance at end of period $ 18,823 $ 13,867 A reconciliation of the income tax benefit computed using the federal statutory income tax rate to the Company’s effective income tax rate is as follows (in thousands): Year Ended December 31, 2021 2020 Amount Percent Amount Percent Federal tax benefit at statutory rate $ 3,338 21.0 % $ 3,645 21.0 % State tax benefit net of federal 25 0.2 % 44 0.3 % Foreign rate differential 7 0.0 % 6 0.0 % Stock warrant costs 1,413 8.9 % 493 2.8 % Other permanent differences (77 ) (0.5 )% (63 ) (0.4 )% Permanent provision to return items 344 2.2 % 361 2.1 % Stock compensation change (37 ) (0.2 )% 12 0.1 % Uncertain tax provision (57 ) (0.4 )% (48 ) (0.3 )% Other — — % (1 ) — % Increase in valuation allowance (4,956 ) (31.2 )% (4,449 ) (25.6 )% Total tax (expense) benefit $ — — % $ — — % The principal components of the Company’s deferred tax assets and liabilities consist of the following (in thousands): Year Ended December 31, 2021 2020 Deferred tax assets: Start-up costs $ 5,618 $ 4,158 Federal net operating loss carryforwards 10,866 7,982 State tax loss carryforwards 64 48 Foreign net operating loss carryforwards 122 126 Tax credit carryforward 991 670 ROU Liability 34 58 Deferred compensation 1,157 880 Total deferred tax assets $ 18,852 $ 13,922 Less valuation allowance (18,823 ) (13,867 ) Net deferred tax assets $ 29 $ 55 Deferred tax liabilities: Fixed assets $ (6 ) $ (12 ) ROU Asset (23 ) (43 ) Total deferred tax liabilities $ (29 ) $ (55 ) Net deferred taxes $ — $ — The Company has incurred net operating losses since inception. As of December 31, 2021 $52 million. s, $6.1 million n 2035, no may may not not 2018 80% 2018, 2019, 2020 100% not 382 not The Company conducts business in various locations and, as a result, files income tax returns in the United States federal jurisdiction, in multiple state jurisdictions, and internationally as required. As of December 31, 2021 ly $1.9 million which expire commencing in 2032. Management has evaluated the positive and negative evidence for the realizability of its deferred tax assets. The Company has cumulative losses and there is no December 31, 2021 not not $18.8 million a December 31, 2021 2020 December 31, 2021 The Company undertakes research and development (R&D) activities that qualify for certain tax credits for US and Australian income tax purposes. The Company has a full valuation allowance against its US federal R&D tax credits. For the 2021 not The Company has a liability for unrecognized tax benefits o f $0.2 million December 31, 2021 A reconciliation of the beginning and ending unrecognized tax benefits excluding interest and penalties is as follows (in thousands): Year Ended December 31, 2021 2020 Balance, beginning of year $ 118 $ 72 Additions for tax positions related to the current year — — Additions for tax positions related to prior years 57 46 Reductions due to lapse of statutes of limitations — — Decreases related to settlements with tax authorities — — Balance, end of year $ 175 $ 118 The Company does not December 31, 2021 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 8. In addition to the commitments and contingencies described elsewhere in these notes, see below for a discussion of the Company's commitments and contingencies for the years ended December 31, 2021 December 31, 2020 Lease Obligations Payable Effective January 1, 2019, 842, In March 2018, August 2018 may 5 In August 2019, September 2019 35 no August 2019, may $42,000 December 31, 2021 December 31, 2020 During the year ended December 31, 2021 not The Company made an accounting policy election not The following summarizes quantitative information about the Company's operating leases for the years ended December 31, 2021 December 31, 2020 Year Ended December 31, 2021 2020 Lease cost: Operating lease cost $ 116 $ 116 Short-term lease cost - 17 Variable lease cost 29 29 Total $ 145 $ 162 Other supplemental cash flow information for operating leases is as follows (in thousands): Year Ended December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 138 $ 134 As of December 31, 2021 842 Maturity of lease liabilities As of December 31, 2021 2022 $ 105 2023 56 2024 10 2025 — 2026 — 2027 and thereafter — Total lease payments 171 Less: imputed interest (12 ) Present value of operating lease liabilities $ 159 As of December 31, 2021 years 9.6%. T not Licenses MD Anderson Under agreements associated with Annamycin, the WP1122 WP1066 first Not March 2021, not WP1732, WP1732 February 12, 2018 $267,000 December 31, 2021 2020 Annamycin On June 29, 2017, December 17, 2021 December 2, 2021, 20 four 90 not not WP1122 The rights and obligations to an April 2012 “2012 WP1122 WP1122. December 3, 2021, “2021 WP1122 2012 May 2020 February 20, 2021. six two six August 3, 2021, WP1122 1a WP1122. February 2022. December 2021, WP1122 2012 15 may 2012 1 November 20, 2022; 2 November 20, 2024. 2021 20 may 2021 1 December 3, 2024; 1 December 3, 2026. WP1122 1 19 WP1066 The rights and obligations to a June 2010 “2010 WP1066 February 3, 2022, “2022 WP1066 no 2010 first first first 2010 15 2022 20 may 2022 1 February 2, 2025 2016 HPI MBI entered into an outlicensing agreement with HPI, pursuant to which it granted certain intellectual property rights to HPI, including rights covering the potential drug candidate, WP1066 2019, March 2020, two first two second sixty $234,000 December 31, 2021 2020 Sponsored Research Agreements with MD Anderson MBI has a Sponsored Laboratory Study Agreement with MD Anderson expiring December 31, 2022. July 2021, $697,000 a December 31, 2021 2020 Other Licenses Dermin In 2015, WP1122 WP1066 July 2019, July 30, 2019, 10 August 2019, February 2022, $0.4 10 February 2022 WPD Pharmaceuticals In February 2019, WP1122 WP1066 December 20, 2021 ( one In consideration for entering into the WPD Agreement, WPD agreed that it must use Commercially Reasonable Development Efforts to develop and commercialize products in the licensed territories. For purposes of the WPD Agreement, the term “Commercially Reasonable Development Efforts” (CRDE) means the expenditure, either directly or through the guarantees of grants, by or on behalf of WPD or any of its affiliates of at least: (i) $2.5 million during the first four February 2023) five During the term of the WPD Agreement, to the extent the Company is required to make any payments to MD Anderson pursuant to its license agreements with MD Anderson, whether a milestone or royalty payment, as a result of the research and development or sale of a sublicensed product, WPD shall be required to advance or reimburse the Company for such payments. In further consideration for the rights granted by the Company to WPD under the WPD Agreement, WPD agreed to pay us a royalty percentage at a rate equal to the royalty rate owed MD Anderson under the Company’s license agreements with MD Anderson plus an additional royalty (the “override royalty percentage”) equal to 1.0% $14.0 0.75% $17.0 0.5% With certain exceptions, the WPD Agreement will remain in full force and effect until the expiration of the last patent within the sublicensed patents. Notwithstanding the foregoing, the Company has the right, in its sole discretion, to terminate the WPD Agreement in whole, or to materially amend the agreement by removing a portion of the sublicensed subject matter, in connection with certain fundamental transactions or in connection with the granting to an unaffiliated third Animal Life Sciences In February 2019, WP1122 WP1066 one Employment Agreements $0.9 million December 31, 2021 |
Note 9 - Subsequent Events
Note 9 - Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 9. In addition to the subsequent events discussed elsewhere in these notes, see below for a discussion of our subsequent events occurring after December 31, 2021 In February 2022, $0.4 10 February 2022 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation - |
Consolidation, Policy [Policy Text Block] | Principles of consolidation one 280, one |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates - may may may |
Liquidity and Financial Condition [Policy Text Block] | Liquidity and Financial Condition early stage company an not e companies. S December 31, 2021 2020 million a of million a December 31, 2021 million an million. T December 31, 2021 not no |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents - one may not not |
Property, Plant and Equipment, Policy [Policy Text Block] | Prepaid Expenses and Other Current Assets - December 31, 2021 2020 Prepaid insurance $ 589 $ 579 Vendor prepayments and deposits 486 1,281 Prepaid sponsored research 474 164 Non-trade receivables 23 1 Related party receivables 22 — Total prepaid expenses and other current assets $ 1,594 $ 2,025 Vendor prepayments at December 31, 2021 2020 zero 2021 |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible assets - |
Lessee, Leases [Policy Text Block] | Operating Lease Right-of-Use Asset - may not 12 8 |
Collaborative Arrangement, Accounting Policy [Policy Text Block] | Sublicense Arrangement - not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial instruments - The Company has categorized its assets and liabilities that are valued at fair value on a recurring basis into three 1 3 Assets and liabilities recorded in the balance sheets at fair value are categorized based on a hierarchy of inputs as follows: Level 1 Level 2 Level 3 The Company’s financial assets and liabilities recorded at fair value on a recurring basis include the fair value of our warrant liability discussed in Note 5. The following table provides the financial assets and liabilities reported at fair value and measured on a recurring basis at December 31, 2021 2020 Description Liabilities Measured at Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Fair value of warrant liability: December 31, 2021 $ 1,412 $ — $ — $ 1,412 December 31, 2020 $ 8,192 $ — $ — $ 8,192 The following table provides a summary of changes in fair value associated with the Level 3 December 31, 2021 2020 Warrant Liability Long-Term December 31, 2019 $ 5,818 Exercise of warrants (4 ) Issuances of warrants 4,724 Change in fair value - net (2,346 ) December 31, 2020 $ 8,192 Exercise of warrants (52 ) Change in fair value - net (6,728 ) December 31, 2021 $ 1,412 The above table of Level 3 December 31, 2019 3 may not not |
Income Tax, Policy [Policy Text Block] | Income Taxes - not not The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740 10 not |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Translation of Foreign Currencies |
Share-based Payment Arrangement [Policy Text Block] | Stock-based Compensation - 718, 718 718 not January 1, 2020, |
Earnings Per Share, Policy [Policy Text Block] | Loss Per Common Share December 31, 2021 2020 ly 4.3 million an |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Costs - |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events - 9 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In August 2020, No. 2020 06, 470 20 815 40 2020 06 2020 06 January 1, 2022 January 1, 2022 not In May 2021, No. 2021 04, 260 470 50 718 815 40 2021 04 December 15, 2021, The Company’s adoption of this pronouncement effective January 1, 2022 not The Company does not not |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation, Principles of Consolidation and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | December 31, 2021 2020 Prepaid insurance $ 589 $ 579 Vendor prepayments and deposits 486 1,281 Prepaid sponsored research 474 164 Non-trade receivables 23 1 Related party receivables 22 — Total prepaid expenses and other current assets $ 1,594 $ 2,025 |
Schedule of Property, Plant and Equipment Useful Life [Table Text Block] | Years Leasehold improvements Shorter of estimated useful lives or the term of the lease Computer equipment 2 Software 3 Machinery and equipment 2 5 Furniture and office equipment 2 7 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Description Liabilities Measured at Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Fair value of warrant liability: December 31, 2021 $ 1,412 $ — $ — $ 1,412 December 31, 2020 $ 8,192 $ — $ — $ 8,192 Warrant Liability Long-Term December 31, 2019 $ 5,818 Exercise of warrants (4 ) Issuances of warrants 4,724 Change in fair value - net (2,346 ) December 31, 2020 $ 8,192 Exercise of warrants (52 ) Change in fair value - net (6,728 ) December 31, 2021 $ 1,412 |
Note 4 - Accrued Expenses and_2
Note 4 - Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2021 2020 Accrued research and development $ 1,005 $ 907 Accrued payroll and bonuses 606 426 Accrued legal, regulatory, professional and other 442 262 Accrued liabilities due to related party 109 78 Operating lease liability - current 96 118 Total accrued expenses and other current liabilities $ 2,258 $ 1,791 |
Note 5 - Warrants (Tables)
Note 5 - Warrants (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Shares Under Outstanding Warrants at December 31, 2021 Number of Shares Under Outstanding Warrants at December 31, 2020 Weighted Average Exercise Price at December 31, 2021 Remaining Contractual Life at December 31, 2021 (Years) Liability Classified Warrants (1) Issued February 2017 67,349 67,349 $ 8.42 0.1 Issued February 2018 378,951 378,951 16.80 1.6 Issued June 2018 (2) 123,836 123,836 12.20 1.9 Issued March 2019 263,507 263,507 6.60 2.2 Issued April 2019 875,001 875,001 10.50 2.3 Issued February 2020 1,015,001 1,025,001 6.30 3.6 2,723,645 2,733,645 $ 9.46 Equity Classified Warrants Issued May 2016 - Bonwick — 17,970 $ 45.00 — Issued July 2017 - Consulting (3) 25,001 25,001 15.64 0.6 Issued April 2018 - Consulting — 16,667 18.00 — Issued August 2019 - Consulting 25,000 25,000 9.84 0.6 Issued April 2020 - Consulting 16,667 16,667 6.84 3.3 Issued December 2020 - Consulting 8,334 8,334 4.72 4.0 Issued April 2021 - Consulting 71,500 — 3.63 4.3 Issued August 2021 - Consulting 250,000 — 3.08 9.6 396,502 109,639 $ 4.59 Balance outstanding 3,120,147 2,843,284 $ 8.51 |
Schedule of Warrants or Rights, Assumptions Used [Table Text Block] | Year Ended December 31, 2021 2020 Risk-free interest rate 0.1% to 1.1% 0.1% to 0.3% Volatility 71.8% to 114.5% 113.7% to 127.4% Expected life (years) 0.1 to 3.6 1.1 to 4.6 Dividend yield —% —% |
Schedule of Warrant Activity [Table Text Block] | Number of Shares Under Warrant Range of Warrant Exercise Price per Share Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding at December 31, 2020 2,733,645 6.60 to 16.80 $ 9.45 3.6 Granted — 6.30 to 6.30 $ — — Exercised (10,000 ) 6.60 to 6.60 $ 6.60 — Expired — — $ — — Outstanding at December 31, 2021 2,723,645 6.30 to 16.80 $ 9.46 2.6 Vested and Exercisable at December 31, 2021 2,723,645 6.30 to 16.80 $ 9.46 2.6 |
Note 6 - Equity (Tables)
Note 6 - Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed, Amount [Table Text Block] | Year Ended December 31, 2021 2020 General and administrative $ 1,461 $ 1,347 Research and development 912 333 Total stock-based compensation $ 2,373 $ 1,680 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2021 2020 Risk-free interest rate 0.9% to 1.4% 0.2% to 0.6% Volatility 114.8% to 118.8% 122.5% to 128.0% Expected life (years) 5.3 to 6.2 3.7 to 6.3 Expected dividend yield —% —% |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted Average Grant Date Fair Value Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding, December 31, 2020 903,487 $ 8.19 $ 11.24 7.9 $ — Granted 534,865 $ 3.23 $ 3.74 Exercised — $ — $ — Forfeited — $ — $ — Outstanding, December 31, 2021 1,438,352 $ 6.35 $ 8.45 7.8 $ — Exercisable, December 31, 2021 591,101 $ 9.44 $ 13.39 6.5 $ — |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number of Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term (years) Unvested Shares, December 31, 2020 98,482 $ 6.49 3.0 Granted 150,000 $ 3.73 Vested (27,923 ) $ 6.65 Unvested Shares, December 31, 2021 220,559 $ 4.59 3.0 |
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 2021 2020 Current expense (benefit): Federal $ — $ — State — — Foreign — — Current income tax benefit — — Deferred expense (benefit): Federal — — State — — Foreign — — Deferred income tax expense — — Total $ — $ — |
Summary of Valuation Allowance [Table Text Block] | Year Ended December 31, 2021 2020 Valuation allowance at beginning of period $ 13,867 $ 9,418 Income tax benefit 4,956 4,449 Release of valuation allowance — — Valuation allowance at end of period $ 18,823 $ 13,867 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2021 2020 Amount Percent Amount Percent Federal tax benefit at statutory rate $ 3,338 21.0 % $ 3,645 21.0 % State tax benefit net of federal 25 0.2 % 44 0.3 % Foreign rate differential 7 0.0 % 6 0.0 % Stock warrant costs 1,413 8.9 % 493 2.8 % Other permanent differences (77 ) (0.5 )% (63 ) (0.4 )% Permanent provision to return items 344 2.2 % 361 2.1 % Stock compensation change (37 ) (0.2 )% 12 0.1 % Uncertain tax provision (57 ) (0.4 )% (48 ) (0.3 )% Other — — % (1 ) — % Increase in valuation allowance (4,956 ) (31.2 )% (4,449 ) (25.6 )% Total tax (expense) benefit $ — — % $ — — % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Year Ended December 31, 2021 2020 Deferred tax assets: Start-up costs $ 5,618 $ 4,158 Federal net operating loss carryforwards 10,866 7,982 State tax loss carryforwards 64 48 Foreign net operating loss carryforwards 122 126 Tax credit carryforward 991 670 ROU Liability 34 58 Deferred compensation 1,157 880 Total deferred tax assets $ 18,852 $ 13,922 Less valuation allowance (18,823 ) (13,867 ) Net deferred tax assets $ 29 $ 55 Deferred tax liabilities: Fixed assets $ (6 ) $ (12 ) ROU Asset (23 ) (43 ) Total deferred tax liabilities $ (29 ) $ (55 ) Net deferred taxes $ — $ — |
Summary of Income Tax Contingencies [Table Text Block] | Year Ended December 31, 2021 2020 Balance, beginning of year $ 118 $ 72 Additions for tax positions related to the current year — — Additions for tax positions related to prior years 57 46 Reductions due to lapse of statutes of limitations — — Decreases related to settlements with tax authorities — — Balance, end of year $ 175 $ 118 |
Note 8 - Commitments and Cont_2
Note 8 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Year Ended December 31, 2021 2020 Lease cost: Operating lease cost $ 116 $ 116 Short-term lease cost - 17 Variable lease cost 29 29 Total $ 145 $ 162 Year Ended December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 138 $ 134 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturity of lease liabilities As of December 31, 2021 2022 $ 105 2023 56 2024 10 2025 — 2026 — 2027 and thereafter — Total lease payments 171 Less: imputed interest (12 ) Present value of operating lease liabilities $ 159 |
Note 1 - Nature of Business (De
Note 1 - Nature of Business (Details Textual) | Dec. 31, 2021 |
Number of Core Drug Technologies | 3 |
Animal Life Sciences, Inc [Member] | |
Equity Method Investment, Ownership Percentage | 10.00% |
Note 2 - Basis of Presentatio_3
Note 2 - Basis of Presentation, Principles of Consolidation and Significant Accounting Policies (Details Textual) $ in Thousands, shares in Millions | Jan. 29, 2021 | Dec. 31, 2021USD ($)shares | Dec. 31, 2020USD ($)shares |
Number of Operating Segments | 1 | ||
Net Income (Loss) Attributable to Parent, Total | $ (15,894) | $ (17,355) | |
Net Cash Provided by (Used in) Operating Activities, Total | (18,951) | (17,771) | |
Retained Earnings (Accumulated Deficit), Ending Balance | (72,810) | (56,916) | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 70,903 | $ 15,173 | |
Impairment of Intangible Assets (Excluding Goodwill), Total | $ 0 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 4.3 | 3.6 | |
Annamycin [Member] | |||
Vendor Prepayments and Deposits, Expansion of Production Commitments | $ 0 | $ 1,100 | |
Reverse Stock Split [Member] | |||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 6 |
Note 2 - Basis of Presentatio_4
Note 2 - Basis of Presentation, Principles of Consolidation and Significant Accounting Policies - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Prepaid insurance | $ 589 | $ 579 |
Vendor prepayments and deposits | 486 | 1,281 |
Prepaid sponsored research | 474 | 164 |
Non-trade receivables | 23 | 1 |
Related party receivables | 22 | 0 |
Total prepaid expenses and other current assets | $ 1,594 | $ 2,025 |
Note 2 - Basis of Presentatio_5
Note 2 - Basis of Presentation, Principles of Consolidation and Significant Accounting Policies - Schedule of Property Plant And Equipment Useful Lives (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Computer Equipment [Member] | |
Property and equipment (Year) | 2 years |
Software Equipment [Member] | |
Property and equipment (Year) | 3 years |
Machinery and Equipment [Member] | Minimum [Member] | |
Property and equipment (Year) | 2 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Property and equipment (Year) | 5 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property and equipment (Year) | 2 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property and equipment (Year) | 7 years |
Note 2 - Basis of Presentatio_6
Note 2 - Basis of Presentation, Principles of Consolidation and Significant Accounting Policies - Schedule of Fair Value Measurements, Recurring and Nonrecurring (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Warrant Liability Long Term [Member] | ||
Balance | $ 8,192 | $ 5,818 |
Exercise of warrants | (52) | (4) |
Issuances of warrants | 4,724 | |
Change in fair value - net | (6,728) | (2,346) |
Balance | 1,412 | 8,192 |
Warrant Liability [Member] | Fair Value, Recurring [Member] | ||
Fair value of warrant liability | 1,412 | 8,192 |
Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value of warrant liability | 0 | 0 |
Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value of warrant liability | 0 | 0 |
Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value of warrant liability | $ 1,412 | $ 8,192 |
Note 3 - Intangible Assets (Det
Note 3 - Intangible Assets (Details Textual) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Finite-Lived Intangible Assets, Gross, Total | $ 11.1 | $ 11.1 |
Note 4 - Accrued Expenses and_3
Note 4 - Accrued Expenses and Other Current Liabilities (Details Textual) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts Payable, Related Parties, Current | $ 48,000 | $ 48,000 |
Note 4 - Accrued Expenses and_4
Note 4 - Accrued Expenses and Other Current Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accrued research and development | $ 1,005 | $ 907 |
Accrued payroll and bonuses | 606 | 426 |
Accrued legal, regulatory, professional and other | 442 | 262 |
Accrued liabilities due to related party | 109 | 78 |
Total accrued expenses and other current liabilities | 2,258 | 1,791 |
Accounts Payable and Accrued Liabilities [Member] | ||
Operating lease liability - current | $ 96 | $ 118 |
Note 5 - Warrants (Details Text
Note 5 - Warrants (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Feb. 28, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Aug. 31, 2021 | Apr. 30, 2021 | Apr. 30, 2020 | |
Share-based Payment Arrangement, Expense | $ 2,373,000 | $ 1,680,000 | ||||
Warrants Issued in June 2018 and Expiring December 22, 2023 [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 118,372 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 12.12 | |||||
Warrants Issued in June 2018 and Expiring June 21, 2023 [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 5,464 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 13.92 | |||||
Warrants Issued in July 2017 for Consulting with Exercise Price of 14.46 [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 16,667 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 14.46 | |||||
Warrants Issued in July 2017 for Consulting with Exercise Price 18.00 [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 8,334 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 18 | |||||
Warrants Issued in Connection with the February 2020 Stock Offering [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 937,501 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 6.30 | |||||
Class of Warrant or Right, Initial Exercise Period (Month) | 6 months | |||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||
Oppenheimer Co, Underwriter Warrant [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 87,500 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 6.30 | |||||
Equity Classified Warrants [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 396,502 | 109,639 | 250,000 | 71,500 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.08 | $ 3.63 | ||||
Warrants and Rights Outstanding, Term (Year) | 10 years | 5 years | ||||
Class of Warrant or Right, Vested and Exercisable (in shares) | 186,560 | 85,472 | ||||
Share-based Payment Arrangement, Expense | $ 516,000 | $ 5,000 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 548,000 | |||||
Warrants Issued in December 2020 for Consulting [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 8,334 | |||||
Warrants Issued in April 2020 for Consulting [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 16,667 | |||||
Class of Warrant or Right, Vesting Contingency, Research and Development Expenditures Threshold | $ 10,000,000 |
Note 5 - Warrants - Warrants Ou
Note 5 - Warrants - Warrants Outstanding (Details) - $ / shares | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Aug. 31, 2021 | Apr. 30, 2021 | |||
Balance outstanding (in shares) | 3,120,147 | 2,843,284 | ||||
Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | $ 8.51 | |||||
Warrants Issued in February 2017 [Member] | ||||||
Balance outstanding (in shares) | [1] | 67,349 | 67,349 | |||
Balance outstanding, remaining contractual life (Year) | [1] | 1 month 6 days | ||||
Warrants Issued in February 2017 [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | [1] | $ 8.42 | ||||
Warrants Issued in February 2018 [Member] | ||||||
Balance outstanding (in shares) | [1] | 378,951 | 378,951 | |||
Balance outstanding, remaining contractual life (Year) | [1] | 1 year 7 months 6 days | ||||
Warrants Issued in February 2018 [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | [1] | $ 16.80 | ||||
Warrants Issued in June 2018 [Member] | ||||||
Balance outstanding (in shares) | [1],[2] | 123,836 | 123,836 | |||
Balance outstanding, remaining contractual life (Year) | [1],[2] | 1 year 10 months 24 days | ||||
Warrants Issued in June 2018 [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | [1],[2] | $ 12.20 | ||||
Warrants Issued in March 2019 [Member] | ||||||
Balance outstanding (in shares) | [1] | 263,507 | 263,507 | |||
Balance outstanding, remaining contractual life (Year) | [1] | 2 years 2 months 12 days | ||||
Warrants Issued in March 2019 [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | [1] | $ 6.60 | ||||
Warrants Issued in April 2019 [Member] | ||||||
Balance outstanding (in shares) | [1] | 875,001 | 875,001 | |||
Balance outstanding, remaining contractual life (Year) | [1] | 2 years 3 months 18 days | ||||
Warrants Issued in April 2019 [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | [1] | $ 10.50 | ||||
Warrants Issued in February 2020 [Member] | ||||||
Balance outstanding (in shares) | [1] | 1,015,001 | 1,025,001 | |||
Balance outstanding, remaining contractual life (Year) | [1] | 3 years 7 months 6 days | ||||
Warrants Issued in February 2020 [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | [1] | $ 6.30 | ||||
Liability Classified Warrants [Member] | ||||||
Balance outstanding (in shares) | [1] | 2,723,645 | 2,733,645 | |||
Balance outstanding, remaining contractual life (Year) | 2 years 7 months 6 days | 3 years 7 months 6 days | ||||
Liability Classified Warrants [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | $ 9.46 | [1] | $ 9.45 | |||
Warrants Issued in May 2016 to Bonwick [Member] | ||||||
Balance outstanding (in shares) | 0 | 17,970 | ||||
Warrants Issued in May 2016 to Bonwick [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | $ 45 | |||||
Warrants Issued in July 2017 for Consulting One [Member] | ||||||
Balance outstanding (in shares) | [3] | 25,001 | 25,001 | |||
Balance outstanding, remaining contractual life (Year) | [3] | 7 months 6 days | ||||
Warrants Issued in July 2017 for Consulting One [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | [3] | $ 15.64 | ||||
Warrants Issued in April 2018 for Consulting [Member] | ||||||
Balance outstanding (in shares) | 0 | 16,667 | ||||
Warrants Issued in April 2018 for Consulting [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | $ 18 | |||||
Warrants Issued in August 2019 for Consulting [Member] | ||||||
Balance outstanding (in shares) | 25,000 | 25,000 | ||||
Balance outstanding, remaining contractual life (Year) | 7 months 6 days | |||||
Warrants Issued in August 2019 for Consulting [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | $ 9.84 | |||||
Warrants Issued in April 2020 for Consulting [Member] | ||||||
Balance outstanding (in shares) | 16,667 | 16,667 | ||||
Balance outstanding, remaining contractual life (Year) | 3 years 3 months 18 days | |||||
Warrants Issued in April 2020 for Consulting [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | $ 6.84 | |||||
Warrants Issued in December 2020 for Consulting [Member] | ||||||
Balance outstanding (in shares) | 8,334 | 8,334 | ||||
Balance outstanding, remaining contractual life (Year) | 4 years | |||||
Warrants Issued in December 2020 for Consulting [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | $ 4.72 | |||||
Warrant Issued in April 2021 for Consulting [Member] | ||||||
Balance outstanding (in shares) | 71,500 | 0 | ||||
Balance outstanding, remaining contractual life (Year) | 4 years 3 months 18 days | |||||
Warrant Issued in April 2021 for Consulting [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | $ 3.63 | |||||
Warrant Issued in August 2021 for Consulting [Member] | ||||||
Balance outstanding (in shares) | 250,000 | 0 | ||||
Balance outstanding, remaining contractual life (Year) | 9 years 7 months 6 days | |||||
Warrant Issued in August 2021 for Consulting [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | $ 3.08 | |||||
Equity Classified Warrants [Member] | ||||||
Balance outstanding (in shares) | 396,502 | 109,639 | ||||
Balance outstanding, warrant exercise price (in dollars per share) | $ 3.08 | $ 3.63 | ||||
Equity Classified Warrants [Member] | Weighted Average [Member] | ||||||
Balance outstanding, warrant exercise price (in dollars per share) | $ 4.59 | |||||
[1] | If the Company subdivides (by any stock split, stock dividend, recapitalization or otherwise) its outstanding shares of its common stock into a smaller number of shares, the warrant exercise price is proportionately reduced and the number of shares under outstanding warrants is proportionately increased. Additionally, if the Company combines (by combination, reverse stock split or otherwise) its outstanding shares of common stock into a smaller number of shares, the warrant exercise price is proportionately increased and the number of shares under outstanding warrants is proportionately decreased. Also, the Company may voluntarily reduce the warrant exercise price for its warrants issued in March 2019 and February 2017 and may voluntarily extend the contractual term of its warrants issued in February 2017. | |||||
[2] | Includes warrants to purchase 118,372 shares at an exercise price of $12.12, expiring December 22, 2023, and warrants to purchase 5,464 shares at an exercise price of $13.92, expiring June 21, 2023. | |||||
[3] | Includes warrants to purchase 16,667 shares at an exercise price of $14.46 and warrants to purchase 8,334 shares at an exercise price of $18.00. |
Note 5 - Warrants - Assumptions
Note 5 - Warrants - Assumptions Used (Details) | Dec. 31, 2021 | Dec. 31, 2020 |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, assumptions | 0.001 | 0.001 |
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants, assumptions | 0.718 | 1.137 |
Minimum [Member] | Measurement Input, Expected Term [Member] | ||
Warrants, assumptions | 0.1 | 1.1 |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, assumptions | 0.011 | 0.003 |
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants, assumptions | 1.145 | 1.274 |
Maximum [Member] | Measurement Input, Expected Term [Member] | ||
Warrants, assumptions | 3.6 | 4.6 |
Note 5 - Warrants - Warrant Act
Note 5 - Warrants - Warrant Activity (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | |||
Balance, number of shares under warrants (in shares) | 2,843,284 | |||
Balance, number of shares under warrants (in shares) | 3,120,147 | 2,843,284 | ||
Weighted Average [Member] | ||||
Balance, warrant exercise price (in dollars per share) | $ 8.51 | |||
Liability Classified Warrants [Member] | ||||
Balance, number of shares under warrants (in shares) | [1] | 2,733,645 | ||
Balance, weighted average remaining contractual life (Year) | 2 years 7 months 6 days | 3 years 7 months 6 days | ||
Granted, number of shares under warrants (in shares) | 0 | |||
Exercised, number of shares under warrants (in shares) | (10,000) | |||
Expired, number of shares under warrants (in shares) | 0 | |||
Balance, number of shares under warrants (in shares) | [1] | 2,723,645 | 2,733,645 | |
Vested and Exercisable, number of shares under warrants (in shares) | 2,723,645 | |||
Vested and Exercisable, weighted average remaining contractual life (Year) | 2 years 7 months 6 days | |||
Liability Classified Warrants [Member] | Minimum [Member] | ||||
Balance, warrant exercise price (in dollars per share) | $ 6.60 | |||
Granted, warrant exercise price (in dollars per share) | 6.30 | |||
Exercised, warrant exercise price (in dollars per share) | 6.60 | |||
Balance, warrant exercise price (in dollars per share) | 6.30 | $ 6.60 | ||
Vested and Exercisable, warrant exercise price (in dollars per share) | 6.30 | |||
Liability Classified Warrants [Member] | Maximum [Member] | ||||
Balance, warrant exercise price (in dollars per share) | 16.80 | |||
Granted, warrant exercise price (in dollars per share) | 6.30 | |||
Exercised, warrant exercise price (in dollars per share) | 6.60 | |||
Balance, warrant exercise price (in dollars per share) | 16.80 | 16.80 | ||
Vested and Exercisable, warrant exercise price (in dollars per share) | 16.80 | |||
Liability Classified Warrants [Member] | Weighted Average [Member] | ||||
Balance, warrant exercise price (in dollars per share) | 9.45 | |||
Exercised, warrant exercise price (in dollars per share) | 6.60 | |||
Balance, warrant exercise price (in dollars per share) | 9.46 | [1] | $ 9.45 | |
Vested and Exercisable, warrant exercise price (in dollars per share) | $ 9.46 | |||
[1] | If the Company subdivides (by any stock split, stock dividend, recapitalization or otherwise) its outstanding shares of its common stock into a smaller number of shares, the warrant exercise price is proportionately reduced and the number of shares under outstanding warrants is proportionately increased. Additionally, if the Company combines (by combination, reverse stock split or otherwise) its outstanding shares of common stock into a smaller number of shares, the warrant exercise price is proportionately increased and the number of shares under outstanding warrants is proportionately decreased. Also, the Company may voluntarily reduce the warrant exercise price for its warrants issued in March 2019 and February 2017 and may voluntarily extend the contractual term of its warrants issued in February 2017. |
Note 6 - Equity (Details Textua
Note 6 - Equity (Details Textual) $ / shares in Units, $ in Thousands | Jun. 15, 2020shares | Jun. 30, 2021USD ($)$ / sharesshares | Feb. 28, 2021USD ($)$ / sharesshares | Jan. 31, 2021USD ($)shares | Nov. 30, 2020USD ($)shares | Feb. 28, 2020USD ($)$ / sharesshares | Mar. 22, 2022shares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | Jul. 31, 2020USD ($) | Jun. 30, 2020shares | Jul. 31, 2019USD ($) | Oct. 04, 2018USD ($) |
Preferred Stock, Shares Issued, Total (in shares) | 0 | 0 | |||||||||||
Proceeds from Issuance of Common Stock | $ | $ 74,684 | $ 22,561 | |||||||||||
Share Based Compensation Arrangement by Share Based Payment Award, Options, Grants in Period, Aggregate Fair Value | $ | 1,700 | 1,300 | |||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | $ 1,500 | $ 1,500 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 534,865 | ||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | |||||||||||
Subsequent Event [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 21,667 | ||||||||||||
The 2015 Stock Plan [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 1,000,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 1,750,001 | ||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 41,628 | ||||||||||||
Share-based Payment Arrangement, Option [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | $ 2,800 | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 8 months 12 days | ||||||||||||
Share-based Payment Arrangement, Option [Member] | Employees [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||||||||||||
Share-based Payment Arrangement, Option [Member] | Director [Member] | Minimum [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 1 year | ||||||||||||
Share-based Payment Arrangement, Option [Member] | Director [Member] | Maximum [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | $ 800 | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 10 months 24 days | ||||||||||||
Share Based Compensation Arrangement by Share Based Payment Award, Number of Installment Periods | 4 | 4 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 150,000 | 150,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 3.73 | $ 3.73 | |||||||||||
Warrants Issued in Connection with the February 2020 Stock Offering [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 937,501 | ||||||||||||
Underwritten Public Offering [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 14,273,684 | ||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 4.75 | ||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 78,000 | ||||||||||||
Over-Allotment Option [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,141,052 | ||||||||||||
February 2020 Stock Offering [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,250,000 | ||||||||||||
Shares and Warrants Issued in Period, Purchase Price Per Share and Related Warrant (in dollars per share) | $ / shares | $ 4.80 | ||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 6,000 | ||||||||||||
Payments of Stock Issuance Costs | $ | $ 700 | ||||||||||||
Lincoln Park Transaction [Member] | |||||||||||||
Purchase Agreement, Common Stock, Maximum Aggregate Commitment | $ | $ 22,000 | $ 20,000 | |||||||||||
Stock Issued During Period, Shares, Commitment Consideration (in shares) | 107,788 | 126,699 | |||||||||||
Purchase Agreement, Maximum Aggregate Commitment, Number of Additional Shares Issued (in shares) | 53,893 | ||||||||||||
Stock Issued During Period, Value, Additional Commitment Shares | $ | $ 400 | $ 500 | |||||||||||
Stock Issued During Period, Shares, Additional Commitment Shares (in shares) | 50,680 | ||||||||||||
The 2020 Purchase Agreement [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 771,220 | ||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 2,200 | ||||||||||||
Stock Issued During Period, Shares, Additional Commitment Shares (in shares) | 133,017 | ||||||||||||
The 2021 ATM Agreement [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 0 | ||||||||||||
At Market Issuance Sales Agreement, Maximum Aggregate Offering Price | $ | $ 50,000 | ||||||||||||
The 2020 ATM Agreement [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 468,684 | 471,405 | |||||||||||
Proceeds from Issuance of Common Stock | $ | $ 2,900 | $ 2,800 | |||||||||||
Payments of Stock Issuance Costs | $ | $ 100 | ||||||||||||
At Market Issuance Sales Agreement, Maximum Aggregate Offering Price | $ | $ 15,000 | ||||||||||||
Shares Issued, Average Price Per Share (in dollars per share) | $ / shares | $ 6.11 | ||||||||||||
Common Stock, Shares Subscribed but Unissued (in shares) | 26,966 | ||||||||||||
Common Stock Subscribed, Average Price Per Share (in dollars per share) | $ / shares | $ 4.96 | ||||||||||||
Common Stock, Value, Subscriptions | $ | $ 100 | ||||||||||||
The 2019 ATM Agreement [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,412,017 | ||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 11,900 | ||||||||||||
At Market Issuance Sales Agreement, Maximum Aggregate Offering Price | $ | $ 15,000 | ||||||||||||
Shares Issued, Average Price Per Share (in dollars per share) | $ / shares | $ 8.68 | ||||||||||||
At Market Issuance Sales Agreement, Commission Fee, Percentage of Gross Proceeds | 3.00% |
Note 6 - Equity - Stock based C
Note 6 - Equity - Stock based Compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Stock-based compensation expense | $ 2,373 | $ 1,680 |
General and Administrative Expense [Member] | ||
Stock-based compensation expense | 1,461 | 1,347 |
Research and Development Expense [Member] | ||
Stock-based compensation expense | $ 912 | $ 333 |
Note 6 - Equity - Assumptions U
Note 6 - Equity - Assumptions Used (Details) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Minimum [Member] | ||
Risk-free interest rate | 0.90% | 0.20% |
Volatility | 114.80% | 122.50% |
Expected life (years) (Year) | 5 years 3 months 18 days | 3 years 8 months 12 days |
Maximum [Member] | ||
Risk-free interest rate | 1.40% | 0.60% |
Volatility | 118.80% | 128.00% |
Expected life (years) (Year) | 6 years 2 months 12 days | 6 years 3 months 18 days |
Note 6 - Equity - Stock Option
Note 6 - Equity - Stock Option Activity (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Outstanding, number of shares (in shares) | 903,487 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 8.19 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 11.24 | |
Outstanding, weighted average remaining contractual term (Year) | 7 years 9 months 18 days | 7 years 10 months 24 days |
Outstanding, aggregate intrinsic value | $ 0 | $ 0 |
Granted, number of shares (in shares) | 534,865 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 3.23 | |
Granted, weighted average exercise price (in dollars per share) | $ 3.74 | |
Exercised, number of shares (in shares) | 0 | |
Exercised, weighted average grant date fair value (in dollars per share) | $ 0 | |
Exercised, weighted average exercise price (in dollars per share) | $ 0 | |
Forfeited, number of shares (in shares) | 0 | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 0 | |
Forfeited, weighted average exercise price (in dollars per share) | $ 0 | |
Outstanding, number of shares (in shares) | 1,438,352 | 903,487 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 6.35 | $ 8.19 |
Outstanding, weighted average exercise price (in dollars per share) | $ 8.45 | $ 11.24 |
Exercisable, number of shares (in shares) | 591,101 | |
Exercisable, weighted average grant date fair value (in dollars per share) | $ 9.44 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 13.39 | |
Exercisable, weighted average remaining contractual term (Year) | 6 years 6 months | |
Exercisable, aggregate intrinsic value | $ 0 |
Note 6 - Equity - Restricted St
Note 6 - Equity - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 1 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Unvested Shares, number of shares (in shares) | 98,482 | ||
Unvested Shares, weighted average grant date fair value (in dollars per share) | $ 6.49 | ||
Unvested Shares, weighted average remaining contractual term (Year) | 3 years | 3 years | |
Granted, number of shares (in shares) | 150,000 | 150,000 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 3.73 | $ 3.73 | |
Vested, number of shares (in shares) | (27,923) | ||
Vested, weighted average grant date fair value (in dollars per share) | $ 6.65 | ||
Unvested Shares, number of shares (in shares) | 220,559 | 98,482 | |
Unvested Shares, weighted average grant date fair value (in dollars per share) | $ 4.59 | $ 6.49 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred Tax Assets, Valuation Allowance, Total | $ 18,823 | $ 13,867 | $ 9,418 |
Unrecognized Tax Benefits, Ending Balance | 175 | $ 118 | $ 72 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||
Operating Loss Carryforwards, Total | 52,000 | ||
Operating Loss Carryforwards, Subject To Expiration | 6,100 | ||
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards, Total | $ 1,900 |
Note 7 - Income Taxes - Schedul
Note 7 - Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Federal | $ 0 | $ 0 |
State | 0 | 0 |
Foreign | 0 | 0 |
Current income tax benefit | 0 | 0 |
Federal | 0 | 0 |
State | 0 | 0 |
Foreign | 0 | 0 |
Deferred income tax expense | 0 | 0 |
Total | $ 0 | $ 0 |
Note 7 - Income Taxes - Summary
Note 7 - Income Taxes - Summary of Valuation Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Valuation allowance at beginning of period | $ 13,867 | $ 9,418 |
Income tax benefit | 4,956 | 4,449 |
Release of valuation allowance | 0 | 0 |
Valuation allowance at end of period | $ 18,823 | $ 13,867 |
Note 7 - Income Taxes - Sched_2
Note 7 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Federal tax benefit at statutory rate | $ 3,338 | $ 3,645 |
Federal tax benefit at statutory rate, percentage | 21.00% | 21.00% |
State tax benefit net of federal | $ 25 | $ 44 |
State tax benefit net of federal, percentage | 0.20% | 0.30% |
Foreign rate differential | $ 7 | $ 6 |
Foreign rate differential, percentage | 0.00% | 0.00% |
Stock warrant costs | $ 1,413 | $ 493 |
Stock warrant costs, percentage | 8.90% | 2.80% |
Other permanent differences | $ (77) | $ (63) |
Other permanent differences, percentage | (0.50%) | (0.40%) |
Permanent provision to return items | $ 344 | $ 361 |
Permanent provision to return items, percentage | 2.20% | 2.10% |
Stock compensation change | $ (37) | $ 12 |
Stock compensation change, percentage | (0.20%) | 0.10% |
Uncertain tax provision | $ (57) | $ (48) |
Uncertain tax provision, percentage | (0.40%) | (0.30%) |
Other | $ 0 | $ (1) |
Other, percentage | 0.00% | 0.00% |
Increase in valuation allowance | $ (4,956) | $ (4,449) |
Increase in valuation allowance, percentage | (31.20%) | (25.60%) |
Total tax (expense) benefit | $ 0 | $ 0 |
Total tax (expense) benefit, percentage | 0.00% | 0.00% |
Note 7 - Income Taxes - Sched_3
Note 7 - Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Start-up costs | $ 5,618 | $ 4,158 | |
Federal net operating loss carryforwards | 10,866 | 7,982 | |
State tax loss carryforwards | 64 | 48 | |
Foreign net operating loss carryforwards | 122 | 126 | |
Tax credit carryforward | 991 | 670 | |
ROU Liability | 34 | 58 | |
Deferred compensation | 1,157 | 880 | |
Total deferred tax assets | 18,852 | 13,922 | |
Less valuation allowance | (18,823) | (13,867) | $ (9,418) |
Net deferred tax assets | 29 | 55 | |
Fixed assets | (6) | (12) | |
ROU Asset | (23) | (43) | |
Total deferred tax liabilities | (29) | (55) | |
Net deferred taxes | $ 0 | $ 0 |
Note 7 - Income Taxes - Reconci
Note 7 - Income Taxes - Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Balance, beginning of year | $ 118 | $ 72 |
Additions for tax positions related to the current year | 0 | 0 |
Additions for tax positions related to prior years | 57 | 46 |
Reductions due to lapse of statutes of limitations | 0 | 0 |
Decreases related to settlements with tax authorities | 0 | 0 |
Balance, end of year | $ 175 | $ 118 |
Note 8 - Commitments and Cont_3
Note 8 - Commitments and Contingencies (Details Textual) | Mar. 16, 2020USD ($) | Feb. 28, 2022USD ($) | Jul. 31, 2021USD ($) | Aug. 31, 2019shares | Jul. 31, 2019USD ($) | Feb. 28, 2019USD ($) | Mar. 31, 2018 | Dec. 31, 2021USD ($)shares | Dec. 31, 2020USD ($)shares |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 1 year 8 months 12 days | ||||||||
Operating Lease, Weighted Average Discount Rate, Percent | 9.60% | ||||||||
Research and Development Expense, Total | $ 14,418,000 | $ 12,757,000 | |||||||
Common Stock, Shares, Issued, Total (in shares) | shares | 28,578,338 | 11,536,720 | |||||||
Employee Agreements, Termination Benefits Provided To Key Employees, Aggregate Amount | $ 900,000 | ||||||||
Houston Pharmaceuticals, Inc [Member] | |||||||||
Related Party Transaction, Expenses from Transactions with Related Party | 234,000 | $ 284,000 | |||||||
Houston Pharmaceuticals, Inc [Member] | Consulting Agreement on Licensed Molecules [Member] | |||||||||
Other Commitments, Number of Agreements | 2 | ||||||||
Other Commitment, Total | $ 43,500 | ||||||||
Houston Pharmaceuticals, Inc [Member] | Agreement Providing Access to Laboratory Equipment [Member] | |||||||||
Other Commitment, Total | $ 15,000 | ||||||||
Other Commitments, Cancellation Period (Day) | 60 days | ||||||||
IPX Memorial Drive Investors LLC [Member] | |||||||||
Lessee, Operating Lease, Term of Contract (Month) | 66 months | ||||||||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | ||||||||
Olympia Drive W Bellfort LLC [Member] | |||||||||
Lessee, Operating Lease, Term of Contract (Month) | 35 months | ||||||||
Operating Lease, Rent Expense, Annual Increase In Rent, Percent | 3.00% | 3.00% | |||||||
Houston Pharmaceuticals, Inc [Member] | |||||||||
Percentage of Rent Payable By Co-Lessee | 50.00% | ||||||||
Percentage Of Sub-lease Income Allocable To Co-lessee | 50.00% | ||||||||
Sublease Income | 42,000 | 42,000 | |||||||
MD Anderson [Member] | |||||||||
License Agreements Expense | 267,000 | 255,000 | |||||||
Payments For Research And Development Agreement | $ 175,000 | ||||||||
Research and Development Expense, Total | 697,000 | $ 629,000 | |||||||
MD Anderson [Member] | Maximum [Member] | |||||||||
License Agreement Annual License Fee | 100,000 | ||||||||
Milestone Payment Liabilities | 500,000 | ||||||||
MD Anderson [Member] | Maximum [Member] | Submission Of N D A And Receipt Of First Marketing Approval For Sale Of A Licensed Product [Member] | |||||||||
Milestone Payment Liabilities | 600,000 | ||||||||
Payments for Royalties | 600,000 | ||||||||
Dermin [Member] | |||||||||
Licensed Technology Future Payment To Remove Country | $ 500,000 | ||||||||
Equity Distribution Commitment, Threshold Closing Price Days (Day) | 10 days | ||||||||
Common Stock, Shares, Issued, Total (in shares) | shares | 71,663 | ||||||||
Dermin [Member] | Subsequent Event [Member] | |||||||||
Payments for Termination of Commitment | $ 400,000 | ||||||||
WPD Pharmaceuticals [Member] | |||||||||
Research and Development Commitment, First Four Years | $ 2,500,000 | ||||||||
Research And Development Commitment, Four Years Thereafter | $ 2,100,000 | ||||||||
Research and Development Commitment | $ 14,000,000 |
Note 8 - Commitments and Cont_4
Note 8 - Commitments and Contingencies - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Operating lease cost | $ 116 | $ 116 |
Short-term lease cost | 0 | 17 |
Variable lease cost | 29 | 29 |
Total | 145 | 162 |
Operating cash flows from operating leases | $ 138 | $ 134 |
Note 8 - Commitments and Cont_5
Note 8 - Commitments and Contingencies - Future Minimum Liabilities (Details) $ in Thousands | Dec. 31, 2021USD ($) |
2022 | $ 105 |
2023 | 56 |
2024 | 10 |
2025 | 0 |
2026 | 0 |
2027 and thereafter | 0 |
Total lease payments | 171 |
Less: imputed interest | (12) |
Present value of operating lease liabilities | $ 159 |
Note 9 - Subsequent Events (Det
Note 9 - Subsequent Events (Details Textual) $ in Millions | 1 Months Ended |
Feb. 28, 2022USD ($) | |
Subsequent Event [Member] | Dermin [Member] | |
Payments for Termination of Commitment | $ 0.4 |