Vaxart (VXRT) 10-Q 5 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 04, 2021
Document Information [Line Items]
Entity Central Index Key	0000072444
Entity Registrant Name	Vaxart, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-35285
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	59-1212264
Entity Address, Address Line One	170 Harbor Way, Suite 300
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	650
Local Phone Number	550-3500
Title of 12(b) Security	Common stock, $0.0001 par value
Trading Symbol	VXRT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		122,818,085

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 165,266	$ 126,870
Short-term investments	19,318	0
Accounts receivable	107	334
Prepaid expenses and other current assets	4,801	1,327
Total current assets	189,492	128,531
Long-term investments	14,339	0
Property and equipment, net	4,339	1,480
Right-of-use assets, net	5,808	6,838
Intangible assets, net	14,495	15,361
Other long-term assets	371	372
Total assets	228,844	152,582
Current liabilities:
Accounts payable	3,702	2,133
Current portion of operating lease liability	1,791	2,052
Liability related to sale of future royalties, current portion	3,150	2,779
Other accrued liabilities	4,137	4,799
Total current liabilities	12,780	11,763
Operating lease liability, net of current portion	4,363	5,156
Liability related to sale of future royalties, net of current portion	11,777	12,150
Other long-term liabilities	142	109
Total liabilities	29,062	29,178
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock: $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding as of June 30, 2021 and December 31, 2020	0	0
Common stock: $0.0001 par value; 150,000,000 shares authorized; 122,814,467 and 110,271,093 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	12	11
Additional paid-in capital	380,783	272,274
Accumulated deficit	(181,004)	(148,881)
Accumulated other comprehensive loss	(9)	0
Total stockholders’ equity	199,782	123,404
Total liabilities and stockholders’ equity	$ 228,844	$ 152,582

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
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 value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	122,814,467	110,271,093
Common stock, shares outstanding (in shares)	122,814,467	110,271,093

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer, Including Assessed Tax	$ 112,000	$ 523,000	$ 618,000	$ 3,425,000
Operating expenses:
Research and development	10,737,000	5,114,000	20,810,000	6,656,000
General and administrative	5,150,000	3,896,000	11,094,000	5,886,000
Restructuring costs	0	39,000	0	103,000
Total operating expenses	15,887,000	9,049,000	31,904,000	12,645,000
Operating loss	(15,775,000)	(8,526,000)	(31,286,000)	(9,220,000)
Other income and (expenses):
Interest income	23,000	23,000	32,000	64,000
Non-cash interest expense related to sale of future royalties	(334,000)	(446,000)	(800,000)	(937,000)
Foreign exchange loss, net	0	(2,000)	(1,000)	(2,000)
Loss before income taxes	(16,086,000)	(8,951,000)	(32,055,000)	(10,095,000)
Provision for income taxes	30,000	26,000	68,000	179,000
Net loss	$ (16,116,000)	$ (8,977,000)	$ (32,123,000)	$ (10,274,000)
Net loss per share - basic and diluted (in dollars per share)	$ (0.13)	$ (0.12)	$ (0.27)	$ (0.15)
Shares used to compute net loss per share - basic and diluted (in shares)	120,925,570	74,675,131	118,174,099	67,676,138
Comprehensive loss:
Net loss	$ (16,116,000)	$ (8,977,000)	$ (32,123,000)	$ (10,274,000)
Unrealized loss on available-for-sale investments	(4,000)	0	(9,000)	0
Comprehensive loss	(16,120,000)	(8,977,000)	(32,132,000)	(10,274,000)
Customer Service Contracts [Member]
Revenue from Contract with Customer, Including Assessed Tax	0	92,000	13,000	191,000
Royalty [Member]
Revenue from Contract with Customer, Including Assessed Tax	0	193,000	0	2,962,000
Non Cash Royalty Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 112,000	$ 238,000	$ 605,000	$ 272,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Placement Agents' Designees [Member]Common Stock [Member]	Placement Agents' Designees [Member]Additional Paid-in Capital [Member]	Placement Agents' Designees [Member]Retained Earnings [Member]	Placement Agents' Designees [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balances (in shares) at Dec. 31, 2019					48,254,994
Balances at Dec. 31, 2019					$ 5	$ 129,608	$ (116,661)		$ 12,952
Issuance of common stock (in shares)					4,000,000
Issuance of common stock					$ 0	8,722	0		8,722
Issuance of common stock upon exercise of common stock warrants (in shares)					43,707,286
Issuance of common stock upon exercise of common stock warrants					$ 5	24,653	0		$ 24,658
Issuance of common stock upon exercise of stock options (in shares)					178,381				178,381
Issuance of common stock upon exercise of stock options					$ 0	116	0		$ 116
Stock-based compensation					0	2,956	0		2,956
Net loss					0	0	(10,274)		(10,274)
Disgorgement of short-swing profits, net of costs					$ 0	652	0		652
Issuance of common stock warrants to placement agents’ designees	$ 0	$ 453	$ 0	$ 453
Balances (in shares) at Jun. 30, 2020					96,140,661
Balances at Jun. 30, 2020					$ 10	167,160	(126,935)		40,235
Balances (in shares) at Mar. 31, 2020					72,004,720
Balances at Mar. 31, 2020					$ 7	149,244	(117,958)		31,293
Issuance of common stock upon exercise of common stock warrants (in shares)					23,981,166
Issuance of common stock upon exercise of common stock warrants					$ 3	14,306	0		14,309
Issuance of common stock upon exercise of stock options (in shares)					154,775
Issuance of common stock upon exercise of stock options					$ 0	98	0		98
Stock-based compensation					0	2,860	0		2,860
Net loss					0	0	(8,977)		(8,977)
Disgorgement of short-swing profits, net of costs					$ 0	652	0		652
Balances (in shares) at Jun. 30, 2020					96,140,661
Balances at Jun. 30, 2020					$ 10	167,160	(126,935)		40,235
Balances (in shares) at Dec. 31, 2020					110,271,093
Balances at Dec. 31, 2020					$ 11	272,274	(148,881)	$ 0	123,404
Issuance of common stock (in shares)					10,958,908
Issuance of common stock					$ 1	101,913	0	0	101,914
Issuance of common stock upon exercise of common stock warrants (in shares)					1,012,540
Issuance of common stock upon exercise of common stock warrants					$ 0	1,849	0	0	$ 1,849
Issuance of common stock upon exercise of stock options (in shares)					571,926				571,926
Issuance of common stock upon exercise of stock options					$ 0	892	0	0	$ 892
Stock-based compensation					0	3,855	0	0	3,855
Unrealized loss on available-for-sale investments					0	0	0	(9)	(9)
Net loss					$ 0	0	(32,123)	0	(32,123)
Balances (in shares) at Jun. 30, 2021					122,814,467
Balances at Jun. 30, 2021					$ 12	380,783	(181,004)	(9)	199,782
Balances (in shares) at Mar. 31, 2021					117,963,912
Balances at Mar. 31, 2021					$ 12	341,116	(164,888)	(5)	176,235
Issuance of common stock (in shares)					4,304,541
Issuance of common stock					$ 0	36,202	0	0	36,202
Issuance of common stock upon exercise of common stock warrants (in shares)					181,818
Issuance of common stock upon exercise of common stock warrants					$ 0	200	0	0	200
Issuance of common stock upon exercise of stock options (in shares)					364,196
Issuance of common stock upon exercise of stock options					$ 0	661	0	0	661
Stock-based compensation					0	2,604	0	0	2,604
Unrealized loss on available-for-sale investments					0	0	0	(4)	(4)
Net loss					$ 0	0	(16,116)	0	(16,116)
Balances (in shares) at Jun. 30, 2021					122,814,467
Balances at Jun. 30, 2021					$ 12	$ 380,783	$ (181,004)	$ (9)	$ 199,782

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Offering costs	$ 1,824	$ 5,006	$ 1,278

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (32,123,000)	$ (10,274,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,989,000	1,193,000
Accretion of premium on investments	24,000	0
Stock-based compensation	3,855,000	2,956,000
Non-cash interest expense related to sale of future royalties	800,000	937,000
Non-cash revenue related to sale of future royalties	(802,000)	(2,800,000)
Change in operating assets and liabilities:
Accounts receivable	227,000	3,392,000
Prepaid expenses and other assets	(3,473,000)	(657,000)
Accounts payable	1,348,000	148,000
Other accrued liabilities	(1,596,000)	1,376,000
Net cash used in operating activities	(29,751,000)	(3,729,000)
Cash flows from investing activities:
Purchase of property and equipment	(2,818,000)	(13,000)
Proceeds from sale of equipment	0	3,000
Purchases of investments	(34,890,000)	0
Proceeds from maturities of investments	1,200,000	0
Net cash used in investing activities	(36,508,000)	(10,000)
Cash flows from financing activities:
Proceeds from issuance of common stock upon exercise of common stock warrants	1,849,000	24,658,000
Proceeds from issuance of common stock upon exercise of stock options	892,000	116,000
Disgorgement of short-swing profits, net of costs	0	652,000
Net cash provided by financing activities	104,655,000	34,601,000
Net increase in cash and cash equivalents	38,396,000	30,862,000
Cash and cash equivalents at beginning of the period	126,870,000	13,526,000
Cash and cash equivalents at end of the period	165,266,000	44,388,000
Supplemental disclosure of non-cash financing activity:
Issuance of warrants to placement agent’s representatives	0	453,000
Operating lease liabilities arising from obtaining right-of-use assets	56,000	0
Lease-related assets and liabilities derecognized on early termination and modification of leases	158,000	0
Acquisition of property and equipment included in accounts payable and accrued expenses	314,000	170,000
Registered Direct Offering [Member]
Cash flows from financing activities:
Net proceeds from issuance of common stock	0	9,175,000
ATM Program [Member]
Cash flows from financing activities:
Net proceeds from issuance of common stock	$ 101,914,000	$ 0

Note 1 - Organization and Basis

Note 1 - Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1. General Vaxart Biosciences, Inc. was originally incorporated in California in March 2004, July 2007, On February 13, 2018, On June 8, 2020, On October 13, 2020, may October 13, 2020, December 31, 2020, 2020. In the six June 30, 2021 June 30, 2021 The Company’s principal operations are based in South San Francisco, California, and it operates in one reportable segment, which is the discovery and development of oral recombinant protein vaccines, based on its proprietary oral vaccine platform.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2. Basis of Presentation December 31, 2020, 10 February 25, 2021 ( no 2 not Basis of Consolidation Use of Estimates Investments may three The Company determines the appropriate classification of its investments in marketable securities at the time of purchase and reevaluates such designation at each balance sheet date. Marketable debt securities are classified and accounted for as available-for-sale. After consideration of the Company’s objectives to preserve capital, as well as its liquidity requirements, it may 12 12 12 12 Securities are evaluated for impairment at the end of each reporting period. Impairment is evaluated considering numerous factors, including whether a decline in fair value below the amortized cost basis is due to credit-related factors or non-credit-related factors, the financial condition and near-term prospects of the issuer, and intent and ability to hold the investment to allow for an anticipated recovery in fair value. A credit-related impairment is recognized as an allowance on the balance sheet with a corresponding adjustment to earnings. Any impairment that is not Concentration of Credit Risk not The primary focus of the Company’s investment strategy is to preserve capital and meet liquidity requirements. The Company’s investment policy addresses the level of credit exposure by limiting the concentration in any one no Recent Accounting Pronouncements In August 2020, 2020 06, Debt - Debt with Conversion and Other Options (Subtopic 470 20 815 40 none January 1, 2021, The Company has reviewed all other significant newly-issued accounting pronouncements that are not not not

Note 3 - Fair Value of Financia

Note 3 - Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 3 . Fair Value of Financial Instruments Fair value accounting is applied for all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). Financial instruments include cash and cash equivalents, marketable securities, accounts receivable, accounts payable and accrued liabilities that approximate fair value due to their relatively short maturities. Assets and liabilities recorded at fair value on a recurring basis in the balance sheets are categorized based upon the level of judgment associated with inputs used to measure their fair values. The accounting guidance for fair value provides a framework for measuring fair value and requires certain disclosures about how fair value is determined. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance also establishes a three The three Level 1 Level 2 not Level 3 no The following table sets forth the fair value of the Company’s financial assets that are measured on a recurring basis as of June 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total June 30, 2021 Recurring Financial Assets: Money market funds $ 76,311 $ — $ — $ 76,311 U.S. Treasury securities — 19,032 — 19,032 Commercial paper — 7,192 — 7,192 Corporate debt securities — 7,433 — 7,433 Total $ 76,311 $ 33,657 $ — $ 109,968 Level 1 Level 2 Level 3 Total December 31, 2020 Recurring Financial Assets: Money market funds $ 60,005 $ — $ — $ 60,005 Total $ 60,005 $ — $ — $ 60,005 The Company held no recurring financial liabilities as of June 30, 2021 December 31, 2020 six June 30, 2021 2020

Note 4 - Balance Sheet Componen

Note 4 - Balance Sheet Components	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	NOTE 4 . Balance Sheet Components (a) Cash, Cash Equivalents and Investments Cash, cash equivalents and investments consisted of the following (in thousands): Amortized Gross Unrealized Estimated Cash and Cash Short-Term Long-Term Cost Gains Losses Fair Value Equivalents Investments Investments June 30, 2021 Cash at banks $ 88,955 $ — $ — $ 88,955 $ 88,955 $ — $ — Money market funds 76,311 — — 76,311 76,311 — — U.S. Treasury securities 19,038 — (6 ) 19,032 — 9,996 9,036 Commercial paper 7,192 — — 7,192 — 7,192 — Corporate debt securities 7,436 — (3 ) 7,433 — 2,130 5,303 Total $ 198,932 $ — $ (9 ) $ 198,923 $ 165,266 $ 19,318 $ 14,339 Amortized Gross Unrealized Estimated Cash and Cash Short-Term Long-Term Cost Gains Losses Fair Value Equivalents Investments Investments December 31, 2020 Cash at banks $ 66,865 $ — $ — $ 66,865 $ 66,865 $ — $ — Money market funds 60,005 — — 60,005 60,005 — — Total $ 126,870 $ — $ — $ 126,870 $ 126,870 $ — $ — (b) Accounts Receivable Accounts receivable comprises royalties receivable of $107,000 and $334,000 as of June 30, 2021 December 31, 2020, no June 30, 2021 December 31, 2020 (c) Property and Equipment, Net Property and equipment, net consists of the following (in thousands): June 30, 2021 December 31, 2020 Laboratory equipment $ 2,199 $ 1,759 Office and computer equipment 325 294 Construction in progress 2,583 — Total property and equipment 5,107 2,053 Less: accumulated depreciation (768 ) (573 ) Property and equipment, net $ 4,339 $ 1,480 Depreciation expense was $120,000 and $25,000 for the three June 30, 2021 2020 six June 30, 2021 2020 six June 30, 2021 2020 (d) Right-of-Use Assets , Net Right-of-use assets, net consists of the following (in thousands): June 30, 2021 December 31, 2020 Facilities $ 5,807 $ 6,836 Office equipment 1 2 Right-of-use assets, net $ 5,808 $ 6,838 (e) Intangible Assets, Net Intangible assets comprise developed technology and intellectual property. Intangible assets are carried at cost less accumulated amortization. Amortization is computed using the straight-line method over useful lives ranging from 1.3 to 11.75 years for developed technology and 20 years for intellectual property. As of June 30, 2021 June 30, 2021 December 31, 2020 Purchased technology $ 20,300 $ 20,300 Intellectual property 80 80 Total cost 20,380 20,380 Less: accumulated amortization (5,885 ) (5,019 ) Intangible assets, net $ 14,495 $ 15,361 Total amortization expense for the three June 30, 2021 2020 $433,000 six June 30, 2021 2020 $866,000 June 30, 2021 Year Ending December 31, Amount 2021 (six months remaining) $ 866 2022 1,731 2023 1,732 2024 1,732 2025 1,731 Thereafter 6,703 Total $ 14,495 (f) Other Accrued Liabilities Other accrued liabilities consist of the following (in thousands): June 30, 2021 December 31, 2020 Accrued compensation $ 1,508 $ 1,618 Accrued clinical and manufacturing expenses 1,175 1,772 Accrued professional and consulting services 1,060 777 Other liabilities, current portion 394 632 Total $ 4,137 $ 4,799

Note 5 - Revenue

Note 5 - Revenue	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Revenue [Text Block]	NOTE 5 . Revenue Service Contracts with Customers Contract Balances. June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 nil Remaining Performance Obligations. June 30, 2021 December 31, 2020, no nil not not not Royalty Agreements Aviragen entered into a royalty-generating research and license agreement with GlaxoSmithKline, plc (“GSK”) in 1990 July 2019 April 30, 2020, six June 30, 2021 six June 30, 2020 three June 30, 2020. The Company also generates royalty revenue from the sale of Inavir in Japan, pursuant to a collaboration and license agreement that Aviragen entered into with Daiichi Sankyo Company, Limited (“Daiichi Sankyo”) in 2009. September 2010, December 2029, six June 30, 2021 2020 nil 6 three June 30, 2021 2020 six June 30, 2021 2020 three June 30, 2021 2020 six June 30, 2021 2020 The Company’s royalty revenue is seasonal, in line with the flu season, so the majority of the Company’s royalty revenue is earned in the first fourth

Note 6 - Liabilities Related to

Note 6 - Liabilities Related to Sale of Future Royalties	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Liabilities Related to Sale of Future Royalties [Text Block]	6 . Liabilities Related to Sale of Future Royalties In April 2016, first April 1, Under the relevant accounting guidance, due to a limit on the amount of royalties that HCRP can earn under the RIAA, this transaction is accounted for as a liability that is being amortized using the interest method over the life of the arrangement. The Company has no not not The following table shows the activity within the liability account during the six June 30, 2021 Total liability related to sale of future royalties, start of period $ 14,929 Non-cash royalty revenue paid to HCRP (802 ) Non-cash interest expense recognized 800 Total liability related to sale of future royalties, end of period 14,927 Current portion (3,150 ) Long-term portion $ 11,777

Note 7 - Leases

Note 7 - Leases	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	7 . Leas es The Company has the right of use for office and manufacturing facilities under four one one two one one The Company obtained the right of use of real estate located in South San Francisco, California, in November 2020 September 30, 2025, no June 2015 April 30, 2020, five July 2019, April 30, 2025. February 2018, February 28, 2021, no November 30, 2018. one one July 31, 2022, no 2022, As of June 30, 2021 one The following table summarizes the Company’s undiscounted cash payment obligations for its operating lease liabilities with initial terms of more than twelve June 30, 2021 Year Ending December 31, 2021 (six months remaining) $ 1,060 2022 1,986 2023 1,585 2024 1,641 2025 1,113 Undiscounted total 7,385 Less: imputed interest (1,231 ) Present value of future minimum payments 6,154 Current portion of operating lease liability (1,791 ) Operating lease liability, net of current portion $ 4,363 The Company presently has no one Certain operating lease agreements for facilities include non-lease costs, such as common area maintenance, which are recorded as variable lease costs. Operating lease expenses for the three six June 30, 2021 2020 Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Lease cost Operating lease cost $ 511 $ 212 $ 1,173 $ 401 Short-term lease cost 71 3 131 6 Variable lease cost 331 13 624 24 Sublease income — (55 ) (36 ) (109 ) Total lease cost $ 913 $ 173 $ 1,892 $ 322 Net cash outflows associated with operating leases totaled $886,000 and $237,000 in the three June 30, 2021 2020 six June 30, 2021 2020

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 8 . Commitments and Contingencies (a) Purchase Commitments As of June 30, 2021 thirty Note 7 (b) Indemnifications In the ordinary course of business, the Company enters into agreements that may may third not may (c) From time to time the Company may not On August 4, 2020, Godfrey v. Latour, et al. September 4, 2020, second November 25, 2020. March 15, 2021, second third June 11, 2021. third March 24, 2020 June 15, 2020; April 24, 2020 two June 8, 2020. third no On September 8, 2020, Galjour v. Floroiu, et al. October 20, 2020, Jaquith v. Vaxart, Inc. November 12, 2020, two In re Vaxart, Inc. Stockholder Litigation March 24, 2020 June 15, 2020; April 24, 2020 two June 8, 2020. one one April 24, 2020 no January 4, 2021, In August September 2020, two Himmelberg v. Vaxart, Inc. et al. August 24, 2020. second Hovhannisyan v. Vaxart, Inc. et al. September 1, 2020 ( September 17, 2020, two December 9, 2020. January 29, 2021, July 8, 2021, May 14, 2021, June 10, 2021, first first three 10 10b 5, 20 20A first first July 8, 2021, first On October 23, 2020, Roth v. Armistice Capital LLC, et al. 16 On January 8, 2021, pro se Chan v. Vaxart, Inc. et al. Opt-Out Action two 10 10b 5 20 19 On February 4, 2021, Barker v. Vaxart, Inc. et al one 141 May 14, 2021, On March 5, 2021, April 2020. June 2, 2021, The Company’s legal costs incurred in its defense against these claims are expensed as incurred.

Note 9 - Stockholders' Equity

Note 9 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 9 . Stock holders’ Equity (a) P referred Stock The Company is authorized to issue 5,000,000 shares of preferred stock, $0.0001 par value per share. The Company’s board of directors may, 5,000,000 one may no (b) Common Stock Except as otherwise required by law or as otherwise provided in any certificate of designation for any series of preferred stock, the holders of common stock possess all voting power for the election of the Company’s directors and all other matters requiring stockholder action. Holders of common stock are entitled to one may no June 30, 2021 In the event of the Company’s voluntary or involuntary liquidation, dissolution, distribution of assets or winding-up, the holders of the common stock will be entitled to receive an equal amount per share of all of the Company’s assets of whatever kind available for distribution to stockholders, after the rights of the holders of the preferred stock have been satisfied. There are no The Company had shares of common stock reserved for issuance as follows: June 30, 2021 December 31, 2020 Options issued and outstanding 8,285,680 6,813,033 Available for future grants of equity awards 8,032,592 1,230,863 Common stock warrants 232,434 1,244,974 Total 16,550,706 9,288,870 (c) Warrants The following warrants were outstanding as of June 30, 2021 none Securities into which warrants are convertible Warrants outstanding Exercise Price Expiration Date Common Stock 5,000 $ 0.30 September 2024 Common Stock 44,148 $ 1.10 April 2024 Common Stock 26,515 $ 1.375 April 2024 Common Stock 29,150 $ 2.50 March 2025 Common Stock 100,532 $ 3.125 February 2025 Common Stock 16,175 $ 3.125 March 2024 Common Stock 10,914 $ 22.99 December 2026 Total 232,434 In the event of a Fundamental Transaction (a transfer of ownership of the Company as defined in the warrant) within the Company’s control, the holders of the unexercised common stock warrants exercisable for $0.30, $1.10 and $2.50 and those exercisable for $3.125 expiring in February 2025 not

Note 10 - Equity Incentive Plan

Note 10 - Equity Incentive Plans	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	NOTE 1 0 . Equity Incentive Plan s On April 23, 2019, 2019 “2019 may 2019 may 2019 not 2019 The aggregate number of shares of common stock authorized for issuance under the 2019 2019 June 8, 2020, June 16, 2021, 2019 2019 ten may A summary of stock option transactions in the six June 30, 2021 Weighted Shares Number of Average Available Options Exercise For Grant Outstanding Price Balance at January 1, 2021 1,230,863 6,813,033 $ 2.70 2019 Plan Amendment 8,900,000 — $ — Granted (2,515,088 ) 2,515,088 $ 6.52 Exercised — (571,926 ) $ 1.56 Forfeited 416,817 (436,554 ) $ 1.94 Canceled — (33,961 ) $ 8.01 Balance at June 30, 2021 8,032,592 8,285,680 $ 3.96 As of June 30, 2021 six June 30, 2021 six June 30, 2020 The weighted average grant date fair value of options awarded in the six June 30, 2021 2020 Six Months Ended June 30, 2021 2020 Risk-free interest rate 0.98% - 1.07% 0.44% - 0.88% Expected term (in years) 5.44 - 6.07 5.22 - 10.00 Expected volatility 122% - 131% 94% - 104% Dividend yield — % — % The Company measures the fair value of all stock-based awards on the grant date and records the fair value of these awards, net of estimated forfeitures, to compensation expense over the service period. Total stock-based compensation recognized for options was as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Research and development $ 644 $ 1,115 $ 1,223 $ 1,137 General and administrative 1,960 1,745 2,632 1,819 Total stock-based compensation $ 2,604 $ 2,860 $ 3,855 $ 2,956 Effective June 16, 2021, three ten June 16, 2023. three June 30, 2021. As of June 30, 2021

Note 11 - Related Party Transac

Note 11 - Related Party Transaction	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 11. Related Party Transaction In April 2020 16 1934,

Note 12 - Net Loss Per Share

Note 12 - Net Loss Per Share	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 12 . Net Loss Per Share The following table presents the calculation of basic and diluted net loss per share (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net loss $ (16,116 ) $ (8,977 ) $ (32,123 ) $ (10,274 ) Shares used to compute net loss per share – basic and diluted 120,925,570 74,675,131 118,174,099 67,676,138 Net loss per share – basic and diluted $ (0.13 ) $ (0.12 ) $ (0.27 ) $ (0.15 ) No adjustment has been made to the net loss in the three six June 30, 2021 2020 The following potentially dilutive securities were excluded from the computation of diluted weighted average shares outstanding because they would have been antidilutive: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Options to purchase common stock 7,733,353 2,654,144 7,286,414 2,216,462 Performance-based restricted stock units — 411,000 — 223,566 Warrants to purchase common stock 390,010 23,522,891 686,780 28,729,806 Total potentially dilutive securities excluded from denominator of the diluted earnings per share computation 8,123,363 26,588,035 7,973,194 31,169,834

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation December 31, 2020, 10 February 25, 2021 ( no 2 not
Consolidation, Policy [Policy Text Block]	Basis of Consolidation
Use of Estimates, Policy [Policy Text Block]	Use of Estimates
Investment, Policy [Policy Text Block]	Investments may three The Company determines the appropriate classification of its investments in marketable securities at the time of purchase and reevaluates such designation at each balance sheet date. Marketable debt securities are classified and accounted for as available-for-sale. After consideration of the Company’s objectives to preserve capital, as well as its liquidity requirements, it may 12 12 12 12 Securities are evaluated for impairment at the end of each reporting period. Impairment is evaluated considering numerous factors, including whether a decline in fair value below the amortized cost basis is due to credit-related factors or non-credit-related factors, the financial condition and near-term prospects of the issuer, and intent and ability to hold the investment to allow for an anticipated recovery in fair value. A credit-related impairment is recognized as an allowance on the balance sheet with a corresponding adjustment to earnings. Any impairment that is not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk not The primary focus of the Company’s investment strategy is to preserve capital and meet liquidity requirements. The Company’s investment policy addresses the level of credit exposure by limiting the concentration in any one no
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In August 2020, 2020 06, Debt - Debt with Conversion and Other Options (Subtopic 470 20 815 40 none January 1, 2021, The Company has reviewed all other significant newly-issued accounting pronouncements that are not not not

Note 3 - Fair Value of Financ_2

Note 3 - Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total June 30, 2021 Recurring Financial Assets: Money market funds $ 76,311 $ — $ — $ 76,311 U.S. Treasury securities — 19,032 — 19,032 Commercial paper — 7,192 — 7,192 Corporate debt securities — 7,433 — 7,433 Total $ 76,311 $ 33,657 $ — $ 109,968 Level 1 Level 2 Level 3 Total December 31, 2020 Recurring Financial Assets: Money market funds $ 60,005 $ — $ — $ 60,005 Total $ 60,005 $ — $ — $ 60,005

Note 4 - Balance Sheet Compon_2

Note 4 - Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Cash, Cash Equivalents and Investments [Table Text Block]	Amortized Gross Unrealized Estimated Cash and Cash Short-Term Long-Term Cost Gains Losses Fair Value Equivalents Investments Investments June 30, 2021 Cash at banks $ 88,955 $ — $ — $ 88,955 $ 88,955 $ — $ — Money market funds 76,311 — — 76,311 76,311 — — U.S. Treasury securities 19,038 — (6 ) 19,032 — 9,996 9,036 Commercial paper 7,192 — — 7,192 — 7,192 — Corporate debt securities 7,436 — (3 ) 7,433 — 2,130 5,303 Total $ 198,932 $ — $ (9 ) $ 198,923 $ 165,266 $ 19,318 $ 14,339 Amortized Gross Unrealized Estimated Cash and Cash Short-Term Long-Term Cost Gains Losses Fair Value Equivalents Investments Investments December 31, 2020 Cash at banks $ 66,865 $ — $ — $ 66,865 $ 66,865 $ — $ — Money market funds 60,005 — — 60,005 60,005 — — Total $ 126,870 $ — $ — $ 126,870 $ 126,870 $ — $ —
Property, Plant and Equipment [Table Text Block]	June 30, 2021 December 31, 2020 Laboratory equipment $ 2,199 $ 1,759 Office and computer equipment 325 294 Construction in progress 2,583 — Total property and equipment 5,107 2,053 Less: accumulated depreciation (768 ) (573 ) Property and equipment, net $ 4,339 $ 1,480
Lessee, Operating Lease, Right-of-Use Assets [Table Text Block]	June 30, 2021 December 31, 2020 Facilities $ 5,807 $ 6,836 Office equipment 1 2 Right-of-use assets, net $ 5,808 $ 6,838
Schedule of Finite-Lived Intangible Assets [Table Text Block]	June 30, 2021 December 31, 2020 Purchased technology $ 20,300 $ 20,300 Intellectual property 80 80 Total cost 20,380 20,380 Less: accumulated amortization (5,885 ) (5,019 ) Intangible assets, net $ 14,495 $ 15,361
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year Ending December 31, Amount 2021 (six months remaining) $ 866 2022 1,731 2023 1,732 2024 1,732 2025 1,731 Thereafter 6,703 Total $ 14,495
Schedule of Accrued Liabilities [Table Text Block]	June 30, 2021 December 31, 2020 Accrued compensation $ 1,508 $ 1,618 Accrued clinical and manufacturing expenses 1,175 1,772 Accrued professional and consulting services 1,060 777 Other liabilities, current portion 394 632 Total $ 4,137 $ 4,799

Note 6 - Liabilities Related _2

Note 6 - Liabilities Related to Sale of Future Royalties (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Deferred Revenue, by Arrangement, Disclosure [Table Text Block]	Total liability related to sale of future royalties, start of period $ 14,929 Non-cash royalty revenue paid to HCRP (802 ) Non-cash interest expense recognized 800 Total liability related to sale of future royalties, end of period 14,927 Current portion (3,150 ) Long-term portion $ 11,777

Note 7 - Leases (Tables)

Note 7 - Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Ending December 31, 2021 (six months remaining) $ 1,060 2022 1,986 2023 1,585 2024 1,641 2025 1,113 Undiscounted total 7,385 Less: imputed interest (1,231 ) Present value of future minimum payments 6,154 Current portion of operating lease liability (1,791 ) Operating lease liability, net of current portion $ 4,363
Lease, Cost [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Lease cost Operating lease cost $ 511 $ 212 $ 1,173 $ 401 Short-term lease cost 71 3 131 6 Variable lease cost 331 13 624 24 Sublease income — (55 ) (36 ) (109 ) Total lease cost $ 913 $ 173 $ 1,892 $ 322

Note 9 - Stockholders' Equity (

Note 9 - Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Common Stock Reserved for Issuance [Table Text Block]	June 30, 2021 December 31, 2020 Options issued and outstanding 8,285,680 6,813,033 Available for future grants of equity awards 8,032,592 1,230,863 Common stock warrants 232,434 1,244,974 Total 16,550,706 9,288,870
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Securities into which warrants are convertible Warrants outstanding Exercise Price Expiration Date Common Stock 5,000 $ 0.30 September 2024 Common Stock 44,148 $ 1.10 April 2024 Common Stock 26,515 $ 1.375 April 2024 Common Stock 29,150 $ 2.50 March 2025 Common Stock 100,532 $ 3.125 February 2025 Common Stock 16,175 $ 3.125 March 2024 Common Stock 10,914 $ 22.99 December 2026 Total 232,434

Note 10 - Equity Incentive Pl_2

Note 10 - Equity Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Shares Number of Average Available Options Exercise For Grant Outstanding Price Balance at January 1, 2021 1,230,863 6,813,033 $ 2.70 2019 Plan Amendment 8,900,000 — $ — Granted (2,515,088 ) 2,515,088 $ 6.52 Exercised — (571,926 ) $ 1.56 Forfeited 416,817 (436,554 ) $ 1.94 Canceled — (33,961 ) $ 8.01 Balance at June 30, 2021 8,032,592 8,285,680 $ 3.96
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 2021 2020 Risk-free interest rate 0.98% - 1.07% 0.44% - 0.88% Expected term (in years) 5.44 - 6.07 5.22 - 10.00 Expected volatility 122% - 131% 94% - 104% Dividend yield — % — %
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Research and development $ 644 $ 1,115 $ 1,223 $ 1,137 General and administrative 1,960 1,745 2,632 1,819 Total stock-based compensation $ 2,604 $ 2,860 $ 3,855 $ 2,956

Note 12 - Net Loss Per Share (T

Note 12 - Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net loss $ (16,116 ) $ (8,977 ) $ (32,123 ) $ (10,274 ) Shares used to compute net loss per share – basic and diluted 120,925,570 74,675,131 118,174,099 67,676,138 Net loss per share – basic and diluted $ (0.13 ) $ (0.12 ) $ (0.27 ) $ (0.15 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Options to purchase common stock 7,733,353 2,654,144 7,286,414 2,216,462 Performance-based restricted stock units — 411,000 — 223,566 Warrants to purchase common stock 390,010 23,522,891 686,780 28,729,806 Total potentially dilutive securities excluded from denominator of the diluted earnings per share computation 8,123,363 26,588,035 7,973,194 31,169,834

Note 1 - Organization and Bas_2

Note 1 - Organization and Basis of Presentation (Details Textual) $ / shares in Units, $ in Millions	Oct. 13, 2020USD ($)	Mar. 31, 2021	Dec. 31, 2020USD ($)$ / sharesshares	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 08, 2020$ / sharesshares	Jun. 07, 2020shares	Apr. 11, 2019$ / shares
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares			$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized (in shares) | shares			150,000,000	150,000,000	150,000,000	150,000,000	100,000,000
Number of Operating Segments		1
Open Market Sale Agreement [Member]
Open Market Sale Agreement, Maximum Aggregate Offering Price	$ 250
Payments of Stock Issuance Costs	$ 0.3
Open Market Sale Agreement, Sales Commission, Percentage	4.50%
Stock Issued During Period, Shares, New Issues (in shares) | shares			692,651	10,958,908	11,651,559
Proceeds from Issuance of Common Stock			$ 5.5	$ 106.9	$ 112.4
Proceeds from Issuance of Common Stock, Net			$ 4.9	$ 101.9	$ 106.8
Warrants in Connection With the April 2019 Offering [Member]
Pre-funded Warrant, Accompanying Warrant, Amount Paid Per Share (in dollars per share) | $ / shares								$ 0.10

Note 3 - Fair Value of Financ_3

Note 3 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Fair Value, Recurring [Member]
Financial Liabilities Fair Value Disclosure, Total	$ 0	$ 0	$ 0

Note 3 - Fair Value of Financ_4

Note 3 - Fair Value of Financial Instruments - Financial Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Money Market Funds [Member]
Money market funds, Fair Value	$ 76,311	$ 60,005
Fair Value, Recurring [Member]
Assets, Fair Value	109,968	60,005
Fair Value, Recurring [Member] | Short-term Investments [Member] | US Treasury Securities [Member]
Investments, Fair Value Disclosure	19,032
Fair Value, Recurring [Member] | Short-term Investments [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Investments, Fair Value Disclosure	7,192
Fair Value, Recurring [Member] | Long-term Investments [Member] | Corporate Debt Securities [Member]
Investments, Fair Value Disclosure	7,433
Fair Value, Recurring [Member] | Money Market Funds [Member]
Money market funds, Fair Value	76,311	60,005
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value	76,311	60,005
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Short-term Investments [Member] | US Treasury Securities [Member]
Investments, Fair Value Disclosure	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Short-term Investments [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Investments, Fair Value Disclosure	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Long-term Investments [Member] | Corporate Debt Securities [Member]
Investments, Fair Value Disclosure	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Money market funds, Fair Value	76,311	60,005
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value	33,657	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Short-term Investments [Member] | US Treasury Securities [Member]
Investments, Fair Value Disclosure	19,032
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Short-term Investments [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Investments, Fair Value Disclosure	7,192
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Long-term Investments [Member] | Corporate Debt Securities [Member]
Investments, Fair Value Disclosure	7,433
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]
Money market funds, Fair Value	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Short-term Investments [Member] | US Treasury Securities [Member]
Investments, Fair Value Disclosure	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Short-term Investments [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Investments, Fair Value Disclosure	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Long-term Investments [Member] | Corporate Debt Securities [Member]
Investments, Fair Value Disclosure	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member]
Money market funds, Fair Value	$ 0	$ 0

Note 4 - Balance Sheet Compon_3

Note 4 - Balance Sheet Components (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Accounts Receivable, after Allowance for Credit Loss, Current, Total	$ 107,000		$ 107,000		$ 334,000
Accounts Receivable, Allowance for Credit Loss, Current	0		0		0
Depreciation, Total	120,000	$ 25,000	195,000	$ 44,000
Impairment of Property and Equipment			0	0
Amortization of Intangible Assets, Total	433,000	$ 433,000	$ 866,000	$ 866,000
Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Remaining Life (Year)			8 years 4 months 24 days
Intellectual Property [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			20 years
Finite-Lived Intangible Asset, Remaining Life (Year)			6 years 6 months
Minimum [Member] | Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			1 year 3 months 18 days
Maximum [Member] | Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			11 years 9 months
Royalty [Member]
Accounts Receivable, after Allowance for Credit Loss, Current, Total	$ 107,000		$ 107,000		$ 334,000

Note 4 - Balance Sheet Compon_4

Note 4 - Balance Sheet Components - Cash and Cash Equivalents and Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Cash and cash equivalents	$ 165,266	$ 126,870
Gross Unrealized Loss	(9)	0
Short-term investments	19,318	0
Long-term investments	14,339	0
Investments and Cash	198,932	126,870
Investments and Cash, Fair Value Disclosure	198,923	126,870
US Treasury Securities [Member]
Amortized Cost	19,038
Gross Unrealized Loss	(6)
Estimated Fair Value	19,032
Short-term investments	9,996
Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Amortized Cost	7,192
Estimated Fair Value	7,192
Short-term investments	7,192
Corporate Debt Securities [Member]
Amortized Cost	7,436
Gross Unrealized Loss	(3)
Estimated Fair Value	7,433
Long-term investments	5,303
Cash [Member]
Cash and Cash Equivalents, at Carrying Value	88,955	66,865
Money market funds, Fair Value	88,955	66,865
Cash and cash equivalents	88,955	66,865
Money Market Funds [Member]
Cash and Cash Equivalents, at Carrying Value	76,311	60,005
Money market funds, Fair Value	76,311	60,005
Cash and cash equivalents	$ 76,311	$ 60,005

Note 4 - Balance Sheet Compon_5

Note 4 - Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property and equipment, gross	$ 5,107	$ 2,053
Less: accumulated depreciation	(768)	(573)
Property and equipment, net	4,339	1,480
Laboratory Equipment [Member]
Property and equipment, gross	2,199	1,759
Office Equipment [Member]
Property and equipment, gross	325	294
Construction in Progress [Member]
Property and equipment, gross	$ 2,583	$ 0

Note 4 - Balance Sheet Compon_6

Note 4 - Balance Sheet Components - Right-of-use Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Right-of-use assets, net	$ 5,808	$ 6,838
Facilities [Member]
Right-of-use assets, net	5,807	6,836
Office Equipment [Member]
Right-of-use assets, net	$ 1	$ 2

Note 4 - Balance Sheet Compon_7

Note 4 - Balance Sheet Components - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Intangible assets, gross	$ 20,380	$ 20,380
Less: accumulated amortization	(5,885)	(5,019)
Intangible assets, net	14,495	15,361
Purchased Technology [Member]
Intangible assets, gross	20,300	20,300
Intellectual Property [Member]
Intangible assets, gross	$ 80	$ 80

Note 4 - Balance Sheet Compon_8

Note 4 - Balance Sheet Components - Estimated Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2021USD ($)
2021 (six months remaining)	$ 866
2022	1,731
2023	1,732
2024	1,732
2025	1,731
Thereafter	6,703
Total	$ 14,495

Note 4 - Balance Sheet Compon_9

Note 4 - Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accrued compensation	$ 1,508	$ 1,618
Accrued clinical and manufacturing expenses	1,175	1,772
Accrued professional and consulting services	1,060	777
Other liabilities, current portion	394	632
Total	$ 4,137	$ 4,799

Note 5 - Revenue (Details Textu

Note 5 - Revenue (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Contract with Customer, Asset, after Allowance for Credit Loss, Current, Total	$ 0		$ 0		$ 0
Contract With Customer, Asset, Revenue Recognized	0		0		219,000
Contract with Customer, Liability, Total	0		0		0
Revenue, Remaining Performance Obligation, Amount	0		0		$ 13,000
Revenue from Contract with Customer, Including Assessed Tax	112,000	$ 523,000	618,000	$ 3,425,000
Income Tax Expense (Benefit), Total	30,000	26,000	$ 68,000	179,000
Foreign Tax Authority [Member] | National Tax Agency, Japan [Member]
Royalty Withholding Tax			5.00%
Income Tax Expense (Benefit), Total	5,000	12,000	$ 30,000	152,000
Royalty [Member]
Revenue from Contract with Customer, Including Assessed Tax	0	193,000	0	2,962,000
Royalty [Member] | GSK Research and License Agreement [Member]
Revenue from Contract with Customer, Including Assessed Tax		193,000	0	0
Royalty [Member] | Daiichi Sankyo Collaberation and License Agreement [Member]
Revenue from Contract with Customer, Including Assessed Tax			$ 0	2,769,000
Royalty Percentage			4.00%
Non Cash Royalty Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 112,000	$ 238,000	$ 605,000	$ 272,000

Note 6 - Liabilities Related _3

Note 6 - Liabilities Related to Sale of Future Royalties (Details Textual) - HCRP [Member] $ in Millions	1 Months Ended
	Apr. 30, 2016USD ($)
Proceeds from Sale of Future Royalties, Net	$ 20
Royalty Interest Due Each Year	$ 3
Royalty Interest, Percentage of Additional Royalties Due Each Year	15.00%
Royalty Interest, Additional Royalties Due Each Year	$ 1

Note 6 - Liabilities Related _4

Note 6 - Liabilities Related to Sale of Future Royalties - Deferred Revenue Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Current portion	$ (3,150)	$ (2,779)
Long-term portion	11,777	$ 12,150
HealthCare Royalty Partners III, L.P. [Member] | Royalty Arrangement [Member]
Total liability related to sale of future royalties, start of period	14,929
Non-cash royalty revenue paid to HCRP	(802)
Non-cash interest expense recognized	800
Total liability related to sale of future royalties, end of period	14,927
Current portion	(3,150)
Long-term portion	$ 11,777

Note 7 - Leases (Details Textua

Note 7 - Leases (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Lessee, Operating Lease, Renewal Term (Year)	5 years		5 years
Operating Lease, Weighted Average Discount Rate, Percent	9.78%		9.78%
Operating Lease, Weighted Average Remaining Lease Term (Year)	3 years 9 months 21 days		3 years 9 months 21 days
Lessee, Finance Lease, Number of Leases	0		0
Short-term Lease Commitment, Amount	$ 23,000		$ 23,000
Operating Lease, Payments	$ 886,000	$ 237,000	$ 1,820,000	$ 474,000
Right of Use for Office and Manufacturing Facilities with Initial Terms Exceeding One Year [Member]
Lessee, Operating Lease, Number of Right-of-Use Leases	4		4
Right of Use for Equipment with Initial Terms Exceeding One Year [Member]
Lessee, Operating Lease, Number of Right-of-Use Leases	1		1
Leases for Manufacturing Facilities with Initial Terms of One Year or Less [Member]
Lessee, Short-term Lease, Number of Leases	2		2
Lease Agreements for Manufacturing Equipment with Initial Terms of One Year or Less [Member]
Lessee, Short-term Lease, Number of Leases	1		1

Note 7 - Leases - Lease Liabili

Note 7 - Leases - Lease Liabilities Payment Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
2021 (six months remaining)	$ 1,060
2022	1,986
2023	1,585
2024	1,641
2025	1,113
Undiscounted total	7,385
Less: imputed interest	(1,231)
Present value of future minimum payments	6,154
Current portion of operating lease liability	(1,791)	$ (2,052)
Operating lease liability, net of current portion	$ 4,363	$ 5,156

Note 7 - Leases - Operating Lea

Note 7 - Leases - Operating Lease Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating lease cost	$ 511	$ 212	$ 1,173	$ 401
Short-term lease cost	71	3	131	6
Variable lease cost	331	13	624	24
Sublease income	0	(55)	(36)	(109)
Total lease cost	$ 913	$ 173	$ 1,892	$ 322

Note 8 - Commitments and Cont_2

Note 8 - Commitments and Contingencies (Details Textual) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Purchase Obligation, Total	$ 28.9
Long-term Purchase Commitment, Period (Month)	30 months

Note 9 - Stockholders' Equity_2

Note 9 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Preferred Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	0	0
Dividends, Total	$ 0
First Set of Warrants Expiring September 2024 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share)	$ 0.30
First Set of Warrants Expiring April 2024 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share)	1.10
Warrants Expiring March 2025 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share)	2.50
Warrants Expiring February 2025 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share)	$ 3.125

Note 9 - Stockholders' Equity -

Note 9 - Stockholders' Equity - Shares of Common Stock Reserved for Issuance (Details) - shares	Jun. 30, 2021	Dec. 31, 2020
Common stock reserved for issuance (in shares)	16,550,706	9,288,870
Options Issued and Outstanding [Member]
Common stock reserved for issuance (in shares)	8,285,680	6,813,033
Options Available for Future Grants [Member]
Common stock reserved for issuance (in shares)	8,032,592	1,230,863
Common Warrants [Member]
Common stock reserved for issuance (in shares)	232,434	1,244,974

Note 9 - Stockholders' Equity_3

Note 9 - Stockholders' Equity - Summary of Warrants Outstanding (Details)	Jun. 30, 2021$ / sharesshares
Warrants outstanding (in shares)	232,434
First Set of Warrants Expiring September 2024 [Member]
Warrants outstanding (in shares)	5,000
Exercise Price (in dollars per share) | $ / shares	$ 0.30
First Set of Warrants Expiring April 2024 [Member]
Warrants outstanding (in shares)	44,148
Exercise Price (in dollars per share) | $ / shares	$ 1.10
Second Set of Warrants Expiring April 2024 [Member]
Warrants outstanding (in shares)	26,515
Exercise Price (in dollars per share) | $ / shares	$ 1.375
Warrants Expiring March 2025 [Member]
Warrants outstanding (in shares)	29,150
Exercise Price (in dollars per share) | $ / shares	$ 2.50
Warrants Expiring February 2025 [Member]
Warrants outstanding (in shares)	100,532
Exercise Price (in dollars per share) | $ / shares	$ 3.125
Warrants Expiring March 2024 [Member]
Warrants outstanding (in shares)	16,175
Exercise Price (in dollars per share) | $ / shares	$ 3.125
Warrants Expiring December 2026 [Member]
Warrants outstanding (in shares)	10,914
Exercise Price (in dollars per share) | $ / shares	$ 22.99

Note 10 - Equity Incentive Pl_3

Note 10 - Equity Incentive Plans (Details Textual) - USD ($)	Jun. 16, 2021	Jun. 15, 2021	Apr. 23, 2019	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Jun. 08, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)				8,285,680	8,285,680		6,813,033
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)				$ 3.96	$ 3.96		$ 2.70
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)					8 years 5 months 4 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value				$ 30,100,000	$ 30,100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares)				3,485,798	3,485,798
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share)				$ 2.52	$ 2.52
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term (Year)					7 years 2 months 4 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value				$ 18,100,000	$ 18,100,000
Proceeds from Stock Options Exercised					$ 892,000	$ 116,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)					571,926	178,381
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value					$ 3,200,000	$ 524,000
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)					$ 6.23	$ 0.55
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount				20,200,000	$ 20,200,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					2 years 11 months 19 days
Share-based Payment Arrangement, Option [Member] | Former Chairman of the Board [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		3 months
Share-based Payment Arrangement, Option [Member] | Former Chairman of the Board [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date	Jun. 16, 2023
Stock Options with Accelerated Vesting [Member] | Former Chairman of the Board [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number (in shares)	100,000
Share-based Payment Arrangement, Plan Modification, Incremental Cost				$ 1,300,000
The 2019 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	16,900,000		1,600,000					8,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			10 years

Note 10 - Equity Incentive Pl_4

Note 10 - Equity Incentive Plans - Summary of Stock Option Transactions (Details) - $ / shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Shares available for grant, balance (in shares)	1,230,863
Number of options outstanding, beginning balance (in shares)	6,813,033
Weighted average exercise price, balance (in dollars per share)	$ 2.70
Shares availabe for grant, 2019 Plan Amendment (in shares)	8,900,000
Shares available for grant, granted (in shares)	(2,515,088)
Number of options outstanding, granted (in shares)	2,515,088
Weighted average exercise price, granted (in dollars per share)	$ 6.52
Number of options outstanding, exercised (in shares)	(571,926)	(178,381)
Weighted average exercise price, exercised (in dollars per share)	$ 1.56
Shares available for grant, forfeited (in shares)	416,817
Number of options outstanding, forfeited (in shares)	(436,554)
Weighted average exercise price, forfeited (in dollars per share)	$ 1.94
Shares available for grant, canceled (in shares)	0
Number of options outstanding, canceled (in shares)	(33,961)
Weighted average exercise price, canceled (in dollars per share)	$ 8.01
Shares available for grant, balance (in shares)	8,032,592
Number of options outstanding, balance (in shares)	8,285,680
Weighted average exercise price, balance (in dollars per share)	$ 3.96

Note 10 - Equity Incentive Pl_5

Note 10 - Equity Incentive Plans - Assumptions of Options (Details) - Share-based Payment Arrangement, Option [Member]	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Dividend yield	0.00%	0.00%
Minimum [Member]
Risk-free interest rate	0.98%	0.44%
Expected term (in years) (Year)	5 years 5 months 8 days	5 years 2 months 19 days
Expected volatility	122.00%	94.00%
Maximum [Member]
Risk-free interest rate	1.07%	0.88%
Expected term (in years) (Year)	6 years 25 days	10 years
Expected volatility	131.00%	104.00%

Note 10 - Equity Incentive Pl_6

Note 10 - Equity Incentive Plans - Total Stock-based Compensation Recognized for Options (Details) - Share-based Payment Arrangement, Option [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Stock-based compensation	$ 2,604	$ 2,860	$ 3,855	$ 2,956
Research and Development Expense [Member]
Stock-based compensation	644	1,115	1,223	1,137
General and Administrative Expense [Member]
Stock-based compensation	$ 1,960	$ 1,745	$ 2,632	$ 1,819

Note 11 - Related Party Trans_2

Note 11 - Related Party Transaction (Details Textual)	1 Months Ended
	Apr. 30, 2020USD ($)
Disgorgement of Stockholder Short-swing Profits [Member]
Related Party Transaction, Amounts of Transaction	$ 652,000

Note 12 - Net Loss Per Share (D

Note 12 - Net Loss Per Share (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Dilutive Securities, Effect on Basic Earnings Per Share, Total	$ 0	$ 0	$ 0	$ 0

Note 12 - Net Loss Per Share -

Note 12 - Net Loss Per Share - Calculation of Basic and Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net loss	$ (16,116)	$ (8,977)	$ (32,123)	$ (10,274)
Shares used to compute net loss per share - basic and diluted (in shares)	120,925,570	74,675,131	118,174,099	67,676,138
Net loss per share - basic and diluted (in dollars per share)	$ (0.13)	$ (0.12)	$ (0.27)	$ (0.15)

Note 12 - Net Loss Per Share _2

Note 12 - Net Loss Per Share - Summary of Antidilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)	8,123,363	26,588,035	7,973,194	31,169,834
Share-based Payment Arrangement, Option [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)	7,733,353	2,654,144	7,286,414	2,216,462
Performance-based Restricted Stock Units (PRSUs) [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)	0	411,000	0	223,566
Warrant [Member] | Common Stock [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)	390,010	23,522,891	686,780	28,729,806