Eton Pharmaceuticals (ETON) 10-Q 10 Aug 23 2023 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 04, 2023
Document Information [Line Items]
Entity Central Index Key	0001710340
Entity Registrant Name	Eton Pharmaceuticals, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-38738
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-1858472
Entity Address, Address Line One	21925 W. Field Parkway, Suite 235
Entity Address, City or Town	Deer Park
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60010-7278
City Area Code	847
Local Phone Number	787-7361
Title of 12(b) Security	Common stock, $0.001 par value per share
Trading Symbol	ETON
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		25,653,396

Condensed Balance Sheets (Curre

Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 21,566	$ 16,305
Accounts receivable, net	3,084	1,852
Inventories	816	557
Prepaid expenses and other current assets	867	1,290
Total current assets	26,333	20,004
Property and equipment, net	46	72
Intangible assets, net	4,392	4,754
Operating lease right-of-use assets, net	149	188
Other long-term assets, net	12	12
Total assets	30,932	25,030
Current liabilities:
Accounts payable	2,300	1,766
Current portion of long-term debt	1,540	1,033
Accrued liabilities	5,748	3,662
Total current liabilities	9,588	6,461
Long-term debt, net of discount and including accrued fees	4,553	5,384
Operating lease liabilities, noncurrent	66	107
Total liabilities	14,207	11,952
Commitments and contingencies (Note 11)
Stockholders’ equity
Common stock, $0.001 par value; 50,000,000 shares authorized; 25,561,994 and 25,353,119 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	26	25
Additional paid-in capital	117,934	116,187
Accumulated deficit	(101,235)	(103,134)
Total stockholders’ equity	16,725	13,078
Total liabilities and stockholders’ equity	$ 30,932	$ 25,030

Condensed Balance Sheets (Cur_2

Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	50,000,000	50,000,000
Common stock, issued (in shares)	25,561,994	25,353,119
Common stock, outstanding (in shares)	25,561,994	25,353,119

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Total net revenues	$ 11,997	$ 7,358	$ 17,301	$ 9,534
Cost of sales:
Total cost of sales	2,315	2,745	4,273	3,594
Gross profit	9,682	4,613	13,028	5,940
Operating expenses:
Research and development	1,125	690	1,660	2,308
General and administrative	4,674	5,263	10,019	10,059
Total operating expenses	5,799	5,953	11,679	12,367
Income (loss) from operations	3,883	(1,340)	1,349	(6,427)
Other income (expense):
Other income	800	0	800	0
Interest and other expense, net	(124)	(218)	(250)	(461)
Total other income (expense)	676	(218)	550	(461)
Income (loss) before income tax expense	4,559	(1,558)	1,899	(6,888)
Income tax expense	0	0	0	0
Net income (loss)	$ 4,559	$ (1,558)	$ 1,899	$ (6,888)
Net income (loss) per share, basic (in dollars per share)	$ 0.18	$ (0.06)	$ 0.07	$ (0.28)
Weighted average number of common shares outstanding, basic (in shares)	25,593	25,126	25,560	24,915
Net income (loss) per share, diluted (in dollars per share)	$ 0.18	$ (0.06)	$ 0.07	$ (0.28)
Weighted average number of common shares outstanding, diluted (in shares)	25,983	25,126	25,949	24,915
License [Member]
Revenues:
Total net revenues	$ 5,500	$ 5,000	$ 5,500	$ 5,000
Cost of sales:
Total cost of sales	0	990	0	990
Product Sales and Royalties [Member]
Revenues:
Total net revenues	6,497	2,358	11,801	4,534
Cost of sales:
Total cost of sales	$ 2,315	$ 1,755	$ 4,273	$ 2,604

Condensed Statements of Stockho

Condensed Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balances (in shares) at Dec. 31, 2021	24,626,004
Balances at Dec. 31, 2021	$ 25	$ 111,718	$ (94,113)	$ 17,630
Stock-based compensation	$ 0	2,139	0	$ 2,139
Employee stock purchase plan (in shares)	47,585			47,585
Employee stock purchase plan	$ 0	117	0	$ 117
Net income (loss)	$ 0	0	(6,888)	(6,888)
Warrant exercises (in shares)	598,448
Warrant exercises	$ 0	0	0	0
Warrant extensions	$ 0	244	0	$ 244
Stock option exercises (in shares)				0
Balances (in shares) at Jun. 30, 2022	25,272,037
Balances at Jun. 30, 2022	$ 25	114,218	(101,001)	$ 13,242
Balances (in shares) at Mar. 31, 2022	24,626,004
Balances at Mar. 31, 2022	$ 25	112,801	(99,443)	13,383
Stock-based compensation	$ 0	1,056	0	1,056
Employee stock purchase plan (in shares)	47,585
Employee stock purchase plan	$ 0	117	0	117
Net income (loss)	$ 0	0	(1,558)	(1,558)
Warrant exercises (in shares)	598,448
Warrant exercises	$ 0	0	0	0
Warrant extensions	$ 0	244	0	244
Balances (in shares) at Jun. 30, 2022	25,272,037
Balances at Jun. 30, 2022	$ 25	114,218	(101,001)	13,242
Balances (in shares) at Dec. 31, 2022	25,353,119
Balances at Dec. 31, 2022	$ 25	116,187	(103,134)	13,078
Balances (in shares) at Mar. 31, 2023	25,504,378
Balances at Mar. 31, 2023	$ 26	117,009	(105,794)	11,241
Balances (in shares) at Dec. 31, 2022	25,353,119
Balances at Dec. 31, 2022	$ 25	116,187	(103,134)	13,078
Stock-based compensation	$ 0	1,657	0	$ 1,657
Employee stock purchase plan (in shares)	57,616			57,616
Employee stock purchase plan	$ 0	140	0	$ 140
Net income (loss)	$ 0	0	1,899	$ 1,899
Stock option exercises (in shares)	202,126			402,308
Stock option exercises	$ 1	131	0	$ 132
Shares withheld related to net share settlement of stock option exercises (in shares)	(50,867)			(50,867)
Shares withheld related to net share settlement of stock option exercises	$ 0	(181)	0	$ (181)
Balances (in shares) at Jun. 30, 2023	25,561,994
Balances at Jun. 30, 2023	$ 26	117,934	(101,235)	16,725
Balances (in shares) at Mar. 31, 2023	25,504,378
Balances at Mar. 31, 2023	$ 26	117,009	(105,794)	11,241
Stock-based compensation	$ 0	785	0	785
Employee stock purchase plan (in shares)	57,616
Employee stock purchase plan	$ 0	140	0	140
Net income (loss)	$ 0	0	4,559	4,559
Balances (in shares) at Jun. 30, 2023	25,561,994
Balances at Jun. 30, 2023	$ 26	$ 117,934	$ (101,235)	$ 16,725

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net income (loss)	$ 1,899	$ (6,888)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation	1,657	2,383
Depreciation and amortization	424	1,352
Debt discount amortization	61	66
Changes in operating assets and liabilities:
Accounts receivable	(1,232)	4,637
Inventories	(259)	19
Prepaid expenses and other assets	423	1,827
Accounts payable	537	(475)
Accrued liabilities	2,045	763
Net cash provided by operating activities	5,555	3,684
Cash flows from investing activities
Purchases of product license rights	0	(750)
Purchases of property and equipment	0	(26)
Net cash used in investing activities	0	(776)
Cash flows from financing activities
Repayment of long-term debt	(385)	(385)
Proceeds from employee stock purchase plan and stock option exercises	271	117
Payment of tax withholding related to net share settlement of stock option exercises	(181)	0
Net cash used in financing activities	(295)	(268)
Change in cash and cash equivalents	5,261	2,640
Cash and cash equivalents at beginning of period	16,305	14,406
Cash and cash equivalents at end of period	21,566	17,046
Supplemental disclosures of cash flow information
Cash paid for interest	426	378
Cash paid for income taxes	$ 0	$ 0

Note 1 - Company Overview

Note 1 - Company Overview	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1 — Company Overview Eton is an innovative pharmaceutical company focused on developing, acquiring, and commercializing innovative products to address unmet needs in patients suffering from rare diseases. The Company currently has three four 400 600

Note 2 - Liquidity Consideratio

Note 2 - Liquidity Considerations	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Liquidation Basis of Accounting [Text Block]	Note 2 — Liquidity Considerations The Company believes its existing cash and cash equivalents of $21,566 as of June 30, 2023 2023 twelve may

Note 3 - Summary of Significant

Note 3 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 3 — Summary of Significant Accounting Policies Basis of Presentation The Company has prepared the accompanying condensed financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”). Unaudited Interim Financial Information The accompanying interim condensed financial statements are unaudited and have been prepared on the same basis as the audited financial statements and, in the opinion of management, reflect all adjustments necessary for the fair presentation of the Company’s financial position as of June 30, 2023 June 30, 2023 2022 three six June 30, 2023 2022 three six June 30, 2023 not December 31, 2023 Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not Segment Information The Company operates the business on the basis of a single reportable segment, which is the business of developing and commercializing prescription drug products. The Company’s chief operating decision-maker is the Chief Executive Officer (“CEO”), who evaluates the Company as a single operating segment. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three June 30, 2023 Accounts Receivable Accounts receivable are recorded at the invoiced amount and are non-interest bearing. Accounts receivable are recorded net of allowances for doubtful accounts, cash discounts for prompt payment, distribution fees, chargebacks, returns, and allowances. The total for these reserves amounted to $186 and $262 as of June 30, 2023 December 31, 2022 not not Inventories The Company values its inventories at the lower of cost or net realizable value using the first first June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Property and Equipment Property and equipment are stated at cost. Depreciation of property and equipment is computed utilizing the straight-line method based on the following estimated useful lives: computer hardware and software is depreciated over three five not Maintenance and repairs are charged to expense as incurred, while renewals and improvements are capitalized. Intangible Assets The Company capitalizes payments it makes for licensed products when the payment relates to an FDA-approved product, and the cost is recoverable based on expected future cash flows from the product. The cost is amortized on a straight-line basis over the estimated useful life of the product commencing on the approval date in accordance with Accounting Standards Codification (“ASC”) 350, November 2021, ten 2019, five 11 June 2022, June 2022, six December 31, 2022. Q1 2022, five three June 30, 2022. September 2022, five June 30, 2023 three six June 30, 2023 five 2023 2027 Amortization Year Expense Remainder of 2023 $ 363 2024 725 2025 725 2026 725 2027 608 Thereafter 1,246 Total estimated amortization expense $ 4,392 Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not six June 30, 2023 2022 Debt Issuance Costs and Debt Discount and Detachable Debt-Related Warrants Costs incurred to issue debt are deferred and recorded as a reduction to the debt balance in the accompanying balance sheets. The Company amortizes debt issuance costs over the expected term of the related debt using the effective interest method. Debt discounts related to the relative fair value of warrants issued in conjunction with the debt are also recorded as a reduction to the debt balance and accreted over the expected term of the debt-to-interest expense using the effective interest method. Leases The Company accounts for leases in accordance with ASC Topic 842, not The Company measures right-of-use assets based on the corresponding lease liabilities adjusted for (i) any prepayments made to the lessor at or before the commencement date, (ii) initial direct costs it incurs, and (iii) any incentives under the lease. In addition, the Company evaluates the recoverability of its right-of-use assets for possible impairment in accordance with its long-lived assets policy. Operating leases are reflected on the balance sheets as operating lease right-of-use assets, current accrued liabilities, and long-term operating lease liabilities. The Company does not June 30, 2023 2022 The Company commences recognizing operating lease expense when the lessor makes the underlying asset available for use by the Company and the operating lease expense is recognized on a straight-line basis over the term of the lease. Variable lease payments are expensed as incurred. The Company does not twelve Concentrations of Credit Risk, Sources of Supply and Significant Customers The Company is subject to credit risk for its cash and cash equivalents which are invested in money market funds and U.S. treasury bills from time to time. The Company maintains its cash and cash equivalent balances with one The Company is dependent on third The Company is also subject to credit risk from its accounts receivable related to product sales as it extends credit based on an evaluation of the customer’s financial condition, and collateral is not not June 30, 2023 2022 June 30, 2023 six June 30, 2023 June 30, 2022 six June 30, 2022 six June 30, 2023 June 30, 2023 six June 30, 2022 December 31, 2022 Revenue Recognition for Contracts with Customers The Company accounts for contracts with its customers in accordance with ASC 606, 606 606, 606, five At contract inception, once the contract is determined to be within the scope of ASC 606, The Company recognizes as revenue the amount of the transaction price allocated to the respective performance obligation when (or as) each performance obligation is satisfied at a point in time or over time, and if over time this is based on the use of an output or input method. Any amounts received prior to revenue recognition will be recorded as deferred revenue. Amounts expected to be recognized as revenue within the twelve not twelve Milestone Payments not not not Royalties Significant Financing Component one The Company sells its rare disease products to one third “3PL” 3PL 3PL no For its rare disease products, the Company bills at the initial product list price, which is subject to offsets for patient co-pay assistance and potential state Medicaid reimbursements that are recorded as a reduction of net revenues at the date of sale/shipment. Selling prices initially billed to wholesalers were subject to discounts for prompt payment and subsequent chargebacks when the wholesalers sold products at negotiated discounted prices to members of certain group purchasing organizations (“GPOs”) and government programs. Because of the shelf life of the product and the Company’s lengthy return period, there may The Company estimates the transaction price when it receives each purchase order taking into account the expected reductions of the selling price initially billed to the wholesaler/distributor arising from all of the above factors. The Company has developed estimates for future returns and chargebacks and the impact of other discounts and fees it pays, although rare disease product sales are not no The Company stores its rare disease product inventory at its pharmacy distributor customer location, and records sales when stock is pulled and shipped to fulfill specific patient orders. The Company recognized revenue and cost of sales from products sold to wholesalers upon delivery to the wholesaler location. At that time, the wholesalers take control of the product and take title, bear the risk of loss of ownership and have an enforceable obligation to pay the Company. The wholesalers also have the ability to direct sales of products to their customers on terms and at prices they negotiate. Although wholesalers have product return rights, the Company does not Upon recognition of revenue from product sales, the estimated amounts of credit for product returns, chargebacks, distribution fees, prompt payment discounts, state Medicaid, and GPO fees are included in sales reserves, accrued liabilities and net accounts receivable. The Company monitors actual product returns, chargebacks, discounts, and fees after the sale. If these amounts end up differing from its estimates, it will make adjustments to these allowances, which are applied to increase or reduce product sales revenue and earnings in the period of adjustment. In addition, the Company anticipates it will receive revenues from product licensing agreements where it has contracted for milestone payments and royalties from products it has developed or acquired. Cost of Product Sales Cost of product sales consists of the profit-sharing and royalty fees with the Company’s product licensing and development partners, the purchase costs for finished products from third 3PL 3PL Research and Development Expenses Research and development (“R&D”) expenses include both internal R&D activities and external contracted services. Internal R&D activity expenses include salaries, benefits, stock-based compensation, and other costs to support the Company’s R&D operations. External contracted services include product development efforts such as certain product licensor milestone payments, clinical trial activities, manufacturing and control-related activities, and regulatory costs. R&D expenses are charged to operations as incurred. The Company reviews and accrues R&D expenses based on services performed and relies upon estimates of those costs applicable to the stage of completion of each project. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Upfront payments and milestone payments made for the licensing of products that are not Income (Loss) Per Share Basic net income (loss) per share of common stock is computed by dividing net income (loss) attributable to common stockholders for the period by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders for the period by the weighted average number of common and common equivalent shares, such as unvested restricted stock, stock options, RSUs and warrants that are outstanding during the period. Common stock equivalents are excluded from the computation when their inclusion would be anti-dilutive. For the three June 30, 2023, six June 30, 2023, three six June 30, 2022 Stock-Based Compensation The Company accounts for stock-based compensation under the provisions of ASC 718, 718 zero zero Fair Value Measurements We measure certain of our assets and liabilities at fair value. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value accounting requires characterization of the inputs used to measure fair value into a three Level 1 Level 2 Level 3 Fair value measurements are classified based on the lowest level of input that is significant to the measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, which may The Company’s financial instruments included cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, and long-term debt obligation. The carrying amounts of these financial instruments, except for the long-term debt obligation, approximate their fair values due to the short-term maturities of these instruments. Based on borrowing rates currently available to the Company, the carrying value of the long-term debt obligation approximates its fair value. Impact of Recent Accounting Pronouncements In June 2016, 2016 13, December 15, 2022, November 15, 2019, 2016 13 January 1, 2023. not June 30, 2023 no no

Note 4 - Property and Equipment

Note 4 - Property and Equipment	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 4 – Property and Equipment Property and equipment consist of the following: June 30, December 31, 2023 2022 Computer hardware and software $ 187 $ 177 Furniture and fixtures 111 112 Equipment 52 52 Leasehold improvements 71 71 Construction in Progress — 12 421 424 Less: accumulated depreciation (375 ) (352 ) Property and equipment, net $ 46 $ 72 Depreciation expense for the three June 30, 2023 2022 six June 30, 2023 2022

Note 5 - Long Term Debt

Note 5 - Long Term Debt	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Long-Term Debt [Text Block]	Note 5 — Long-Term Debt SWK Loan In November 2019, second March 2020, August 2020. five 3 first twelve February 2022 February 15, 2022 three November 13, 2024 March 2020, February 2021, not In connection with the initial $5,000 borrowed under the SWK Credit Agreement, the Company issued warrants to SWK to purchase 51,239 shares of the Company’s common stock with an exercise price of $5.86 per share. The relative fair value of these warrants was $226 and was estimated using BSM with the following assumptions: fair value of the Company’s common stock at issuance of $5.75 per share; seven In connection with the additional $2,000 borrowed in August 2020, seven These warrants (the “SWK Warrants”) are exercisable immediately and have a term of seven In April 2022, May 2023 3 12 June 30, 2023 June 30, 2023, September 2024, not Interest expense of $538 was recorded during the six June 30, 2023 six June 30, 2022 June 30, 2023 The table below reflects the future payments for the SWK loan principal and interest as of June 30, 2023 Amount Remainder of 2023 $ 1,181 2024 6,468 Total payments 7,649 Less: amount representing interest (1,420 ) Loan payable, gross 6,229 Less: current portion of long-term debt (1,540 ) Less: unamortized discount (136 ) Long-term debt, net of unamortized discount $ 4,553

Note 6 - Common Stock

Note 6 - Common Stock	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Equity [Text Block]	Note 6 — Common Stock The Company has 50,000,000 authorized shares of $0.001 par value common stock under its Amended and Restated Certificate of Incorporation. During the six June 30, 2023 2018 8 six June 30, 2023 June 2023, six June 30, 2022, June 2022,

Note 7 - Common Stock Warrants

Note 7 - Common Stock Warrants	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Stockholders' Equity Note, Warrants or Rights Warrants Disclosure [TextBlock]	Note 7 — Common Stock Warrants The Company’s outstanding warrants to purchase shares of its common stock at June 30, 2023 Description of Warrants No. of Shares Exercise Price Placement Agent Warrants - IPO 414,000 $ 7.50 SWK Warrants – Debt – Tranche #1 51,239 $ 5.86 SWK Warrants – Debt – Tranche #2 18,141 $ 6.62 Total (Avg) 483,380 $ 7.29 The holders of these warrants or their permitted transferees, are entitled to rights with respect to the registration under the Securities Act of 1933, On June 26, 2022, 2017 December 26, 2022 No six June 30, 2022

Note 8 - Share-based Payment Aw

Note 8 - Share-based Payment Awards	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	Note 8 — Share-Based Payment Awards The Company adopted the Eton Pharmaceuticals, Inc. 2017 “2017 2018 2018 December 2020, “2018 2017 2018 2018 June 30, 2023 Share awards that are expired, terminated, surrendered, or canceled without having been fully exercised will be available for future awards under the 2018 2018 January 1, 2019 January 1, 2028, December 31, no To date, all stock options issued have been non-qualified stock options, and the exercise prices were set at the fair value for the shares at the dates of grant. Options typically have a ten July 2017 July 2022. The Company’s previous CFO had 474,295 employee stock options with an exercise price range of $1.37 to $8.61 which were set to expire three May 31, 2022, April 10, 2023. January March 2023, April 2023. No three six June 30, 2022. For the three June 30, 2023 2022 For the six June 30, 2023 2022 Stock Options The following table summarizes stock option activity during the six June 30, 2023 Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Yrs) Value Outstanding as of December 31, 2022 4,402,292 $ 4.71 Issued 1,063,291 $ 3.47 Exercised (402,308 ) $ 2.22 Forfeited/Cancelled (183,437 ) $ 5.48 Outstanding as of June 30, 2023 4,879,838 $ 4.61 7.8 $ 751 Exercisable as of June 30, 2023 2,999,621 $ 4.91 7.0 $ 672 Vested and expected to vest at June 30, 2023 4,879,838 $ 4.61 7.8 $ 751 The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common stock at June 30, 2023 Stock-based compensation related to stock options was $698 and $1,476 for the three six June 30, 2023 three six June 30, 2022 June 30, 2023 six June 30, 2023 six June 30, 2023 five six June 30, 2022 Restricted Stock Units (RSUs) The following table summarizes restricted stock unit activity during the six June 30, 2023 Number of Units Weighted Average Grant-Date Fair Value Per Unit Outstanding and unvested as of December 31, 2022 369,606 $ 2.63 Granted — $ — Vested — $ — Forfeited (4,000 ) $ 2.63 Outstanding and unvested as of June 30, 2023 365,606 $ 2.63 Stock-based compensation related to RSUs was $60 and $118 for the three six June 30, 2023 June 30, 2023 Employee Stock Purchase Plan The Company’s 2018 January 1 December 31 June 30, 2023 The annual offerings consist of two first June second December. 1 first 2 twelve two six six twelve twelve For the six June 30, 2023 2022 first six 2023 2022 six June 30, 2023 2022 six June 30, 2023 2022 three June 30, 2023 2022, June 30, 2023 December 31, 2022

Note 9 - Related-party Transact

Note 9 - Related-party Transactions	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 9 — Related-Party Transactions Chief Executive Officer The CEO has a partial interest in a company that the Company has partnered with for its EM- 100/Alaway The Company acquired the exclusive rights to sell the EM- 100 August 11, 2017, first first two On February 18, 2019, 100, July 11, 2013, two one first one first first June 30, 2023. 100 February 18, 2019, twelve September 2020, March 24, 2023. There were no amounts due to Eyemax under the terms of the Amended Agreement as of June 30, 2023 December 31, 2022

Note 10 - Leases

Note 10 - Leases	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 10 — Leases The Company recognizes a right-of-use (“ROU”) asset and a lease liability on the balance sheet for substantially all leases, including operating leases, and separates lease components from non-lease components related to its office space lease. The Company’s operating lease cost as presented as G&A in the condensed statements of operations was $46 for the six June 30, 2023 six June 30, 2022 six June 30, 2023 six June 30, 2022 three six June 30, 2023 three six June 30, 2022 June 30, 2023 The table below presents the lease-related assets and liabilities recorded on the balance sheet as of June 30, 2023 Assets Classification Operating lease right-of-use assets Operating lease right-of-use assets, net $ 149 Total leased assets $ 149 Liabilities Operating lease liabilities, current Accrued liabilities $ 79 Operating lease liabilities, noncurrent Operating lease liabilities, net of current portion $ 66 Total operating lease liabilities $ 145 The Company’s future lease commitments for its administrative offices in Deer Park, Illinois as of June 30, 2023 Total 2023 2024 2025 Thereafter Undiscounted lease payments $ 157 44 90 23 — Less: Imputed interest (12 ) Total lease liabilities $ 145

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 11 — Commitments and Contingencies Legal The Company is subject to legal proceedings and claims that may not License and product development agreements The Company has entered into various agreements in addition to those discussed above which are described below. The three three 2021, three June 2023, three six June 30, 2023. During the years ended December 31, 2021 2020, third 101 October 2020 November 2021, December 2021. December 31, 2021 January 2022. In January 2019, 104” 104. 104 November 2022. In June 2019, 105 two 105 In March 2020, September 2020, For the initial licensing milestone fee, the Company paid Diurnal $3,500 in cash and issued 379,474 shares of its common stock to Diurnal, which were valued at $1,264 based on the Company’s closing stock price of $3.33 on March 26, 2020. In June 2021, March 2022 In October 2021, October 12, 2021. December 2021. In June 2022, twelve December 31, 2022, 12 12 12 twelve December 31, 2022. In September 2022, January 2022. In March 2023, 600 July 2023, June 30, 2023, first Indemnification As permitted under Delaware law and in accordance with the Company’s Amended and Restated Bylaws, the Company is required to indemnify its officers and directors for certain events or occurrences while the officer or director is or was serving in such capacity. The Company is also party to indemnification agreements with its directors and officers. The Company believes the fair value of the indemnification rights and agreements is minimal. Accordingly, the Company has not June 30, 2023 December 31, 2022

Note 12 - Subsequent Events

Note 12 - Subsequent Events	6 Months Ended
	Jun. 30, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	Note 12 — Subsequent Events On July 12, 2023 10 no

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The Company has prepared the accompanying condensed financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”).
Unaudited Interim Financial Information [Policy Text Block]	Unaudited Interim Financial Information The accompanying interim condensed financial statements are unaudited and have been prepared on the same basis as the audited financial statements and, in the opinion of management, reflect all adjustments necessary for the fair presentation of the Company’s financial position as of June 30, 2023 June 30, 2023 2022 three six June 30, 2023 2022 three six June 30, 2023 not December 31, 2023
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not
Segment Reporting, Policy [Policy Text Block]	Segment Information The Company operates the business on the basis of a single reportable segment, which is the business of developing and commercializing prescription drug products. The Company’s chief operating decision-maker is the Chief Executive Officer (“CEO”), who evaluates the Company as a single operating segment.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three June 30, 2023
Accounts Receivable [Policy Text Block]	Accounts Receivable Accounts receivable are recorded at the invoiced amount and are non-interest bearing. Accounts receivable are recorded net of allowances for doubtful accounts, cash discounts for prompt payment, distribution fees, chargebacks, returns, and allowances. The total for these reserves amounted to $186 and $262 as of June 30, 2023 December 31, 2022 not not
Inventory, Policy [Policy Text Block]	Inventories The Company values its inventories at the lower of cost or net realizable value using the first first June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost. Depreciation of property and equipment is computed utilizing the straight-line method based on the following estimated useful lives: computer hardware and software is depreciated over three five not Maintenance and repairs are charged to expense as incurred, while renewals and improvements are capitalized.
Intangible Assets, Finite-Lived, Policy [Policy Text Block]	Intangible Assets The Company capitalizes payments it makes for licensed products when the payment relates to an FDA-approved product, and the cost is recoverable based on expected future cash flows from the product. The cost is amortized on a straight-line basis over the estimated useful life of the product commencing on the approval date in accordance with Accounting Standards Codification (“ASC”) 350, November 2021, ten 2019, five 11 June 2022, June 2022, six December 31, 2022. Q1 2022, five three June 30, 2022. September 2022, five June 30, 2023 three six June 30, 2023 five 2023 2027 Amortization Year Expense Remainder of 2023 $ 363 2024 725 2025 725 2026 725 2027 608 Thereafter 1,246 Total estimated amortization expense $ 4,392
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not six June 30, 2023 2022
Debt, Policy [Policy Text Block]	Debt Issuance Costs and Debt Discount and Detachable Debt-Related Warrants Costs incurred to issue debt are deferred and recorded as a reduction to the debt balance in the accompanying balance sheets. The Company amortizes debt issuance costs over the expected term of the related debt using the effective interest method. Debt discounts related to the relative fair value of warrants issued in conjunction with the debt are also recorded as a reduction to the debt balance and accreted over the expected term of the debt-to-interest expense using the effective interest method.
Lessee, Leases [Policy Text Block]	Leases The Company accounts for leases in accordance with ASC Topic 842, not The Company measures right-of-use assets based on the corresponding lease liabilities adjusted for (i) any prepayments made to the lessor at or before the commencement date, (ii) initial direct costs it incurs, and (iii) any incentives under the lease. In addition, the Company evaluates the recoverability of its right-of-use assets for possible impairment in accordance with its long-lived assets policy. Operating leases are reflected on the balance sheets as operating lease right-of-use assets, current accrued liabilities, and long-term operating lease liabilities. The Company does not June 30, 2023 2022 The Company commences recognizing operating lease expense when the lessor makes the underlying asset available for use by the Company and the operating lease expense is recognized on a straight-line basis over the term of the lease. Variable lease payments are expensed as incurred. The Company does not twelve
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations of Credit Risk, Sources of Supply and Significant Customers The Company is subject to credit risk for its cash and cash equivalents which are invested in money market funds and U.S. treasury bills from time to time. The Company maintains its cash and cash equivalent balances with one The Company is dependent on third The Company is also subject to credit risk from its accounts receivable related to product sales as it extends credit based on an evaluation of the customer’s financial condition, and collateral is not not June 30, 2023 2022 June 30, 2023 six June 30, 2023 June 30, 2022 six June 30, 2022 six June 30, 2023 June 30, 2023 six June 30, 2022 December 31, 2022
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition for Contracts with Customers The Company accounts for contracts with its customers in accordance with ASC 606, 606 606, 606, five At contract inception, once the contract is determined to be within the scope of ASC 606, The Company recognizes as revenue the amount of the transaction price allocated to the respective performance obligation when (or as) each performance obligation is satisfied at a point in time or over time, and if over time this is based on the use of an output or input method. Any amounts received prior to revenue recognition will be recorded as deferred revenue. Amounts expected to be recognized as revenue within the twelve not twelve Milestone Payments not not not Royalties Significant Financing Component one The Company sells its rare disease products to one third “3PL” 3PL 3PL no For its rare disease products, the Company bills at the initial product list price, which is subject to offsets for patient co-pay assistance and potential state Medicaid reimbursements that are recorded as a reduction of net revenues at the date of sale/shipment. Selling prices initially billed to wholesalers were subject to discounts for prompt payment and subsequent chargebacks when the wholesalers sold products at negotiated discounted prices to members of certain group purchasing organizations (“GPOs”) and government programs. Because of the shelf life of the product and the Company’s lengthy return period, there may The Company estimates the transaction price when it receives each purchase order taking into account the expected reductions of the selling price initially billed to the wholesaler/distributor arising from all of the above factors. The Company has developed estimates for future returns and chargebacks and the impact of other discounts and fees it pays, although rare disease product sales are not no The Company stores its rare disease product inventory at its pharmacy distributor customer location, and records sales when stock is pulled and shipped to fulfill specific patient orders. The Company recognized revenue and cost of sales from products sold to wholesalers upon delivery to the wholesaler location. At that time, the wholesalers take control of the product and take title, bear the risk of loss of ownership and have an enforceable obligation to pay the Company. The wholesalers also have the ability to direct sales of products to their customers on terms and at prices they negotiate. Although wholesalers have product return rights, the Company does not Upon recognition of revenue from product sales, the estimated amounts of credit for product returns, chargebacks, distribution fees, prompt payment discounts, state Medicaid, and GPO fees are included in sales reserves, accrued liabilities and net accounts receivable. The Company monitors actual product returns, chargebacks, discounts, and fees after the sale. If these amounts end up differing from its estimates, it will make adjustments to these allowances, which are applied to increase or reduce product sales revenue and earnings in the period of adjustment. In addition, the Company anticipates it will receive revenues from product licensing agreements where it has contracted for milestone payments and royalties from products it has developed or acquired.
Cost of Goods and Service [Policy Text Block]	Cost of Product Sales Cost of product sales consists of the profit-sharing and royalty fees with the Company’s product licensing and development partners, the purchase costs for finished products from third 3PL 3PL
Research and Development Expense, Policy [Policy Text Block]	Research and Development Expenses Research and development (“R&D”) expenses include both internal R&D activities and external contracted services. Internal R&D activity expenses include salaries, benefits, stock-based compensation, and other costs to support the Company’s R&D operations. External contracted services include product development efforts such as certain product licensor milestone payments, clinical trial activities, manufacturing and control-related activities, and regulatory costs. R&D expenses are charged to operations as incurred. The Company reviews and accrues R&D expenses based on services performed and relies upon estimates of those costs applicable to the stage of completion of each project. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Upfront payments and milestone payments made for the licensing of products that are not
Earnings Per Share, Policy [Policy Text Block]	Income (Loss) Per Share Basic net income (loss) per share of common stock is computed by dividing net income (loss) attributable to common stockholders for the period by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders for the period by the weighted average number of common and common equivalent shares, such as unvested restricted stock, stock options, RSUs and warrants that are outstanding during the period. Common stock equivalents are excluded from the computation when their inclusion would be anti-dilutive. For the three June 30, 2023, six June 30, 2023, three six June 30, 2022
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation The Company accounts for stock-based compensation under the provisions of ASC 718, 718 zero zero
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements We measure certain of our assets and liabilities at fair value. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value accounting requires characterization of the inputs used to measure fair value into a three Level 1 Level 2 Level 3 Fair value measurements are classified based on the lowest level of input that is significant to the measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, which may The Company’s financial instruments included cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, and long-term debt obligation. The carrying amounts of these financial instruments, except for the long-term debt obligation, approximate their fair values due to the short-term maturities of these instruments. Based on borrowing rates currently available to the Company, the carrying value of the long-term debt obligation approximates its fair value.
New Accounting Pronouncements, Policy [Policy Text Block]	Impact of Recent Accounting Pronouncements In June 2016, 2016 13, December 15, 2022, November 15, 2019, 2016 13 January 1, 2023. not June 30, 2023 no no

Note 3 - Summary of Significa_2

Note 3 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Amortization Year Expense Remainder of 2023 $ 363 2024 725 2025 725 2026 725 2027 608 Thereafter 1,246 Total estimated amortization expense $ 4,392

Note 4 - Property and Equipme_2

Note 4 - Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	June 30, December 31, 2023 2022 Computer hardware and software $ 187 $ 177 Furniture and fixtures 111 112 Equipment 52 52 Leasehold improvements 71 71 Construction in Progress — 12 421 424 Less: accumulated depreciation (375 ) (352 ) Property and equipment, net $ 46 $ 72

Note 5 - Long Term Debt (Tables

Note 5 - Long Term Debt (Tables)	6 Months Ended
	Jun. 30, 2023
SWK Credit Agreement [Member]
Notes Tables
Schedule of Maturities of Long-Term Debt [Table Text Block]	Amount Remainder of 2023 $ 1,181 2024 6,468 Total payments 7,649 Less: amount representing interest (1,420 ) Loan payable, gross 6,229 Less: current portion of long-term debt (1,540 ) Less: unamortized discount (136 ) Long-term debt, net of unamortized discount $ 4,553

Note 7 - Common Stock Warrants

Note 7 - Common Stock Warrants (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Description of Warrants No. of Shares Exercise Price Placement Agent Warrants - IPO 414,000 $ 7.50 SWK Warrants – Debt – Tranche #1 51,239 $ 5.86 SWK Warrants – Debt – Tranche #2 18,141 $ 6.62 Total (Avg) 483,380 $ 7.29

Note 8 - Share-based Payment _2

Note 8 - Share-based Payment Awards (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (Yrs) Value Outstanding as of December 31, 2022 4,402,292 $ 4.71 Issued 1,063,291 $ 3.47 Exercised (402,308 ) $ 2.22 Forfeited/Cancelled (183,437 ) $ 5.48 Outstanding as of June 30, 2023 4,879,838 $ 4.61 7.8 $ 751 Exercisable as of June 30, 2023 2,999,621 $ 4.91 7.0 $ 672 Vested and expected to vest at June 30, 2023 4,879,838 $ 4.61 7.8 $ 751
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Number of Units Weighted Average Grant-Date Fair Value Per Unit Outstanding and unvested as of December 31, 2022 369,606 $ 2.63 Granted — $ — Vested — $ — Forfeited (4,000 ) $ 2.63 Outstanding and unvested as of June 30, 2023 365,606 $ 2.63

Note 10 - Leases (Tables)

Note 10 - Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Notes Tables
Lessee, Operating Lease, Disclosure [Table Text Block]	Assets Classification Operating lease right-of-use assets Operating lease right-of-use assets, net $ 149 Total leased assets $ 149 Liabilities Operating lease liabilities, current Accrued liabilities $ 79 Operating lease liabilities, noncurrent Operating lease liabilities, net of current portion $ 66 Total operating lease liabilities $ 145
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Total 2023 2024 2025 Thereafter Undiscounted lease payments $ 157 44 90 23 — Less: Imputed interest (12 ) Total lease liabilities $ 145

Note 2 - Liquidity Considerat_2

Note 2 - Liquidity Considerations (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents, at Carrying Value	$ 21,566	$ 16,305

Note 3 - Summary of Significa_3

Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended			6 Months Ended		12 Months Ended
	Sep. 30, 2022	Nov. 30, 2021	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2019
Accounts Receivable, Allowance for Credit Loss			$ 186			$ 186		$ 262
Inventory Valuation Reserves			76			76		$ 62
Payments to Acquire Intangible Assets						0	$ 750
Finite-Lived Intangible Assets, Accumulated Amortization			2,358			2,358
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year			363			363
Amortization of Intangible Assets			181			362
Impairment, Long-Lived Asset, Held-for-Use						0	0
Finance Lease, Liability			$ 0	$ 0		$ 0	$ 0
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares)			390,176			389,531
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)			4,887,018	5,557,881		4,887,018	5,335,601
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | AnovoRx [Member]
Concentration Risk, Percentage						63.50%	39.40%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | AnovoRx [Member]
Concentration Risk, Percentage						84.20%		79.80%
Carglumic Acid Product Rights [Member]
Payments to Acquire Intangible Assets		$ 3,250
Finite-Lived Intangible Asset, Useful Life (Year)		10 years
Biorphen [Member]
Payments to Acquire Intangible Assets									$ 750
Finite-Lived Intangible Asset, Useful Life (Year)									5 years
Finite-Lived Intangible Assets, Accumulated Amortization				$ 275			$ 275
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year								$ 75
Rezipres Product [Member]
Payments to Acquire Intangible Assets					$ 750
Finite-Lived Intangible Asset, Useful Life (Year)					5 years
Finite-Lived Intangible Assets, Accumulated Amortization				$ 738			$ 738
Betaine Anhydrous Product Rights [Member]
Payments to Acquire Intangible Assets	$ 2,000
Finite-Lived Intangible Asset, Useful Life (Year)	5 years
Computer Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)			3 years			3 years
Furniture and Fixtures [Member]
Property, Plant and Equipment, Useful Life (Year)			5 years			5 years

Note 3 - Summary of Significa_4

Note 3 - Summary of Significant Accounting Policies - Schedule of Intangible Assets Amortization Expense (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Remainder of 2023	$ 363
2024	725
2025	725
2026	725
2027	608
Thereafter	1,246
Total estimated amortization expense	$ 4,392

Note 4 - Property and Equipme_3

Note 4 - Property and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Depreciation	$ 10	$ 18	$ 23	$ 39

Note 4 - Property and Equipme_4

Note 4 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Computer hardware and software	$ 187	$ 177
Furniture and fixtures	111	112
Equipment	52	52
Leasehold improvements	71	71
Construction in Progress	0	12
Property, Plant and Equipment, Gross	421	424
Less: accumulated depreciation	(375)	(352)
Property and equipment, net	$ 46	$ 72

Note 5 - Long Term Debt (Detail

Note 5 - Long Term Debt (Details Textual)					1 Months Ended		6 Months Ended		33 Months Ended
	Apr. 05, 2022	Nov. 13, 2020 USD ($)	Nov. 30, 2019 USD ($) $ / shares shares	Nov. 13, 2019 USD ($)	Aug. 31, 2020 USD ($) $ / shares shares	Nov. 30, 2019 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares	Jun. 30, 2022 USD ($)	Nov. 13, 2024	Dec. 31, 2022 USD ($) $ / shares	Jun. 26, 2022 $ / shares shares	Mar. 31, 2020 USD ($)
Long-Term Debt, Gross							$ 6,229,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares											467,242
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares											$ 3
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares							$ 0.001			$ 0.001
Long-Term Debt, Current Maturities							$ 1,540,000			$ 1,033,000
Interest Expense							538,000	$ 466,000
Amortization of Debt Discount (Premium)							61,000	$ 66,000
Interest Payable, Current							281,000
SWK Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares			51,239		18,141	51,239
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares			$ 5.86		$ 6.62	$ 5.86
Fair Value Adjustment of Warrants					$ 94,000	$ 226,000
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares			$ 5.75		$ 6.85	$ 5.75
Warrants and Rights Outstanding, Term (Year)			7 years		7 years	7 years
Warrants and Rights Outstanding					$ 18,141
SWK Warrants [Member] | Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input			95		95	95
SWK Warrants [Member] | Measurement Input, Expected Dividend Rate [Member]
Warrants and Rights Outstanding, Measurement Input			0		0	0
SWK Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input			1.8		0.4	1.8
SWK Credit Agreement [Member] | SWK Holdings Corporation [Member]
Debt Instrument, Face Amount				$ 10,000,000
Proceeds from Issuance of Debt			$ 5,000,000	5,000,000
Debt Instrument, Covenant Agreement, Additional Amount				$ 5,000,000
Debt Instrument, Term (Year)				5 years
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		2%
Debt Instrument, Exit Fee as a Percentage of Outstanding Amounts		5%
Debt Instrument, Covenant Requirements, Minimum Cash Balance		$ 3,000,000
SWK Credit Agreement [Member] | SWK Holdings Corporation [Member] | Scenario, Plan [Member]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed									5.50%
SWK Credit Agreement [Member] | SWK Holdings Corporation [Member] | London Interbank Offered Rate (LIBOR) 1 [Member]
Debt Instrument, Basis Spread on Variable Rate				10%
Debt Instrument, LIBOR Floor Rate				2%
The Amended Agreement [Member] | SWK Holdings Corporation [Member]
Proceeds from Issuance of Debt					$ 2,000,000
Long-Term Debt, Gross												$ 2,000,000
Debt Instrument, Basis Spread on Variable Rate	8%
Debt Instrument, LIBOR Floor Rate	2%
Long-Term Debt, Current Maturities							$ 1,540,000

Note 5 - Long Term Debt - Sched

Note 5 - Long Term Debt - Schedule of Future Payments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Remainder of 2023	$ 1,181
2024	6,468
Total payments	7,649
Less: amount representing interest	(1,420)
Long-Term Debt, Gross	6,229
Less: current portion of long-term debt	(1,540)	$ (1,033)
Less: unamortized discount	(136)
Long-term debt, net of unamortized discount	$ 4,553	$ 5,384

Note 6 - Common Stock (Details

Note 6 - Common Stock (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Common Stock, Shares Authorized (in shares)	50,000,000		50,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001		$ 0.001
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)	402,308	0
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)	50,867
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation	$ 181
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)	57,616	47,585
Common Stock Warrants [Member]
Class of Warrant or Right, Exercised During Period (in shares)		600,000
Stock Issued During Period Shares Stock Warrant Exercised (in shares)		598,448
Proceeds from Warrant Exercises		$ 2,268
The Two Thousand Eighteen Equity Incentive Plan Member
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)	202,126

Note 7 - Common Stock Warrant_2

Note 7 - Common Stock Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 26, 2022
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		467,242
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 3
General and Administrative Expense [Member]
Class of Warrant or Right, Modification Expense	$ 244

Note 7 - Common Stock Warrant_3

Note 7 - Common Stock Warrants - Schedule of Warrants Outstanding (Details) - $ / shares	Jun. 30, 2023	Jun. 26, 2022
Outstanding (in shares)	483,380
Exercise Price (in dollars per share)		$ 3
Weighted Average [Member]
Exercise Price (in dollars per share)	$ 7.29
Placement Agent Warrants - IPO [Member]
Outstanding (in shares)	414,000
Exercise Price (in dollars per share)	$ 7.50
SWK Warrants – Debt – Tranche #1 [Member]
Outstanding (in shares)	51,239
Exercise Price (in dollars per share)	$ 5.86
SWK Warrants – Debt – Tranche #2 [Member]
Outstanding (in shares)	18,141
Exercise Price (in dollars per share)	$ 6.62

Note 8 - Share-based Payment _3

Note 8 - Share-based Payment Awards (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended			6 Months Ended
	Dec. 31, 2018	Jul. 31, 2017	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	May 30, 2017
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)						1,063,291
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)			4,879,838			4,879,838		4,402,292
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share)			$ 4.61			$ 4.61		$ 4.71
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)						402,308	0
Share-Based Payment Arrangement, Expense			$ 785		$ 1,300	$ 1,657	$ 2,383
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount			4,777			$ 4,777
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)						$ 2.29
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)						$ 2.22
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value						$ 601
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)						57,616	47,585
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expense			715		1,216	$ 1,534	$ 2,211
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expense			70		84	123	172
Consultant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		50,000
Chief Financial Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)								474,295
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)				365,858
Chief Financial Officer [Member] | General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expense			72			$ 72
Chief Financial Officer [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share)								$ 1.37
Chief Financial Officer [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share)								$ 8.61
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)						10 years
Share-Based Payment Arrangement, Expense			698		958	$ 1,476	1,997
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Expense			60			118
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount			$ 729			$ 729
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)						3 years
The 2017 Plan [Member] | Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)									5,000,000
The 2018 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)			628,485			628,485
Share-based Compensation Arrangement by Share-based Payment Award, Annual Increase in Share Reserve as a Percent of Outstanding Common Stock						4%
The 2018 Employee Stock Purchase Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)			652,680			652,680
Share-Based Payment Arrangement, Expense			$ 27		$ 25	$ 63	$ 70
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)						$ 1.14	$ 1.32
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	150,000
Common Stock, Capital Shares Reserved for Future Issuance, Percentage Increase	1%
Common Stock, Capital Shares Reserved for Future Issuance, Increase (in shares)	150,000
Employee Stock Purchase Plans, Fair Value of Common Stock Price Per Share on Offering Date, Percentage	85%
Employee Stock Purchase Plans, Fair Value of Common Stock Price Per Share on Purchase Date, Percentage	85%
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)						57,616	47,585
Employee Stock Purchase Plan (ESPP), Cash Contributions to ESPP						$ 133	$ 128
The 2018 Employee Stock Purchase Plan [Member] | Accrued Liabilities [Member]
Employee-related Liabilities, Current			$ 16			$ 16		$ 23

Note 8 - Share-based Payment _4

Note 8 - Share-based Payment Awards - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Balance, Options (in shares)	4,402,292
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.71
Issued, Options (in shares)	1,063,291
Issued, Weighted Average Exercise Price (in dollars per share)	$ 3.47
Exercised, Options (in shares)	(402,308)	0
Exercised, Weighted Average Exercise Price (in dollars per share)	$ 2.22
Forfeited/Cancelled, Options (in shares)	(183,437)
Forfeited/Cancelled, Weighted Average Exercise Price (in dollars per share)	$ 5.48
Balance, Options (in shares)	4,879,838
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.61
Outstanding, Weighted Average Remaining Contractual Term (Year)	7 years 9 months 18 days
Outstanding, Aggregate Intrinsic Value	$ 751
Exercisable, Options (in shares)	2,999,621
Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.91
Exercisable, Weighted Average Remaining Contractual Term (Year)	7 years
Exercisable, Aggregate Intrinsic Value	$ 672
Vested and expected to vest, Options (in shares)	4,879,838
Vested and expected to vest, Weighted Average Exercise Price (in dollars per share)	$ 4.61
Vested and expected to vest, Weighted Average Remaining Contractual Term (Year)	7 years 9 months 18 days
Vested and expected to vest, Aggregate Intrinsic Value	$ 751

Note 8 - Share-based Payment _5

Note 8 - Share-based Payment Awards -Schedule of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Outstanding and unvested, balance (in shares) | shares	369,606
Outstanding and unvested, Weighted Average Grant-Date Fair Value Per Unit (in dollars per share) | $ / shares	$ 2.63
Granted (in shares) | shares	0
Granted, Weighted Average Grant-Date Fair Value Per Unit (in dollars per share) | $ / shares	$ 0
Vested (in shares) | shares	0
Vested, Weighted Average Grant-Date Fair Value Per Unit (in dollars per share) | $ / shares	$ 0
Forfeited (in shares) | shares	(4,000)
Forfeited, Weighted Average Grant-Date Fair Value Per Unit (in dollars per share) | $ / shares	$ 2.63
Outstanding and unvested, balance (in shares) | shares	365,606
Outstanding and unvested, Weighted Average Grant-Date Fair Value Per Unit (in dollars per share) | $ / shares	$ 2.63

Note 9 - Related-party Transa_2

Note 9 - Related-party Transactions (Details Textual) - USD ($) $ in Thousands			6 Months Ended	12 Months Ended
	Feb. 18, 2019	Aug. 11, 2017	Jun. 30, 2023	Dec. 31, 2022
Related Party, Eyemax LLC [Member] | The Eyemax Agreement [Member]
Related Party Transaction, Terms (Year)		10 years
Related Party Transaction, Terms, Renewal (Year)		2 years
Related Party, Eyemax LLC [Member] | The Eyemax Agreement [Member] | Royalty [Member]
Related Party Transaction, Rate		10%
Related Party, Eyemax LLC [Member] | The Eyemax Agreement [Member] | Covenant Based on Approval by The FDA [Member]
Related Party Transaction, Amounts of Transaction		$ 250
Related Party, Eyemax LLC [Member] | The Eyemax Agreement [Member] | Research and Development Expense [Member]
Related Party Transaction, Amounts of Transaction		250
Related Party, Eyemax LLC [Member] | Covenant Based on Sale of First Commercial Product [Member]
Related Party Transaction, Amounts of Transaction		$ 500
Related Party, Eyemax LLC [Member] | The Amended Agreement [Member]
Related Party Transaction, Amounts of Transaction			$ 0	$ 0
Revenues, Total	$ 2,000		$ 1,833
Related Party, Eyemax LLC [Member] | The Amended Agreement [Member] | Covenant Based on Approval by The FDA [Member]
Related Party Transaction, Amounts of Transaction	250
Related Party, Eyemax LLC [Member] | The Amended Agreement [Member] | Covenant Based on Sale of First Commercial Product [Member]
Related Party Transaction, Amounts of Transaction	$ 500
Related Party, Bausch Health [Member] | Royalty [Member]
Related Party Transaction, Rate	12%

Note 10 - Leases (Details Textu

Note 10 - Leases (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating Lease, Payments			$ 37	$ 44
Operating Lease, Right-of-Use Asset, Periodic Reduction	$ 20	$ 21	$ 39	41
Operating Lease, Weighted Average Remaining Lease Term (Year)	1 year 9 months		1 year 9 months
Operating Lease, Weighted Average Discount Rate, Percent	8.60%		8.60%
General and Administrative Expense [Member]
Operating Lease, Cost			$ 46	$ 21

Note 10 - Leases - Schedule of

Note 10 - Leases - Schedule of Lease-related Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Operating lease right-of-use assets	$ 149	$ 188
Liabilities
Operating lease liabilities, noncurrent	66	$ 107
Total operating lease liabilities	145
Noncurrent Assets [Member]
Operating lease right-of-use assets	149
Accrued Liabilities [Member]
Liabilities
Operating lease liabilities, current	$ 79

Note 10 - Leases - Schedule o_2

Note 10 - Leases - Schedule of Future Lease Payments (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Total	$ 157
2023	44
2024	90
2025	23
Thereafter	0
Less: Imputed interest	(12)
Total lease liabilities	$ 145

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Details Textual) - USD ($) $ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Sep. 13, 2022

Oct. 28, 2021

Jun. 15, 2021

Mar. 26, 2020

Jun. 30, 2022

Oct. 31, 2020

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Dec. 31, 2022

Mar. 14, 2023

Dec. 31, 2021

Mar. 27, 2020

Jan. 23, 2019

Research and Development Expense, Total

$ 1,125

$ 690

$ 1,660

$ 2,308

Cost of Goods and Services Sold

2,315

2,745

4,273

3,594

Common Stock [Member]

Share Price (in dollars per share)

$ 3.33

Indemnification Rights and Agreements [Member]

Other Commitment, Total

0

0

$ 0

License [Member]

Cost of Goods and Services Sold

0

990

0

990

Carglumic Acid Tablets [Member]

Payments to Acquire Marketing Rights

$ 3,250

Commitment, Allocation of Profits, Percentage

50%

Betaine Anhydrous [Member]

Payments to Acquire Marketing Rights

$ 2,000

Commitment, Allocation of Profits, Percentage

65%

Betaine Anhydrous [Member] | Obligation Based on Commercial Success [Member]

Other Commitment, Total

$ 1,000

Azurity Pharmaceuticals, Inc. (“Azurity”) [Member]

Revenues, Total

27,500

Revenue, Additional Based on Event and Sales-based Milestones Achievements

$ 5,500

$ 5,500

Tulex Pharmaceuticals, Inc. (“Tulex”) [Member] | Obligation Based on Successful Manufacturing of Registration Batches [Member]

Other Commitment, Total

$ 450

Tulex Pharmaceuticals, Inc. (“Tulex”) [Member] | Obligation Based on Acceptance of FDA of NDA for product [Member]

Other Commitment, Total

$ 200

Royalties, Percentage of Net Sales,

12.50%

Tulex Pharmaceuticals, Inc. (“Tulex”) [Member] | Obligation Based on First Commercial Sale of Product [Member]

Other Commitment, Total

$ 250

Royalties, Percentage of Net Sales,

17%

Tulex Pharmaceuticals, Inc. (“Tulex”) [Member] | Topiramate (fka ET-101) [Member]

Payment of Filing Fee

$ 1,438

Accounts Receivable, after Allowance for Credit Loss, Total

$ 5,000

Liqmeds Worldwide Limited (“LMW”) [Member] | Licensing and Supply Agreement (the “Agreement”) [Member] | Obligation Based on Issuance of Orange-book Listed Patent [Member]

Other Commitment, Total

$ 650

Diurnal Limited [Member] | Exclusive Licensing and Supply Agreement (the “Alkindi License Agreement”) [Member] | Common Stock [Member]

Stock Issued During Period, Shares, New Issues (in shares)

379,474

Stock Issued During Period, Value, New Issues

$ 1,264

Diurnal Limited [Member] | Exclusive Licensing and Supply Agreement (the “Alkindi License Agreement”) [Member] | Obligation Based on Exclusivity Status from FDA [Member]

Other Commitment, Total

$ 2,500

Diurnal Limited [Member] | License [Member] | Exclusive Licensing and Supply Agreement (the “Alkindi License Agreement”) [Member]

Commitment, Milestone Fee

$ 3,500

Crossject [Member] | U.S. and Canadian rights to Crossject S.A.’s [Member]

Research and Development Expense, Total

$ 500

Royalty on Net Sales of Products, Percent

10%

Crossject [Member] | U.S. and Canadian rights to Crossject S.A.’s [Member] | Obligation Based on Development Milestones [Member]

Other Commitment, Total

$ 3,500

Crossject [Member] | U.S. and Canadian rights to Crossject S.A.’s [Member] | Obligation Based on Commercial Success [Member]

Other Commitment, Total

$ 6,000

Dr. Reddy’s [Member] | License [Member]

Revenues, Total

$ 5,000

Revenue, Additional Based on Event and Sales-based Milestones Achievements

42,500

Escrow Deposit

$ 250

$ 250

$ 250

Additional Payment Rate

10%

Sintetica [Member]

Cost of Goods and Services Sold

$ 812

Note 12 - Subsequent Events (De

Note 12 - Subsequent Events (Details Textual)	Jul. 12, 2023 shares
Subsequent Event [Member]
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture (in shares)	91,402