Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 23, 2022 | Jun. 30, 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 | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 001-35285 | ||
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 Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
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 Public Float | $ 913,148,825 | ||
Entity Common Stock, Shares Outstanding | 125,810,393 | ||
Auditor Name | WithumSmith+Brown, PC | ||
Auditor Location | San Francisco, California | ||
Auditor Firm ID | 100 | ||
ICFR Auditor Attestation Flag | true | ||
OUM & Co LLP [Member] | |||
Document Information [Line Items] | |||
Auditor Name | OUM & Co. LLP | ||
Auditor Location | San Francisco, California | ||
Auditor Firm ID | 252 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 143,745 | $ 126,870 |
Short-term investments | 22,742 | 0 |
Accounts receivable | 71 | 334 |
Prepaid expenses and other current assets | 2,609 | 1,327 |
Total current assets | 169,167 | 128,531 |
Long-term investments | 16,210 | 0 |
Property and equipment, net | 6,601 | 1,480 |
Right-of-use assets, net | 13,168 | 6,838 |
Intangible assets, net | 10,624 | 15,361 |
Goodwill | 4,508 | 0 |
Other long-term assets | 890 | 372 |
Total assets | 221,168 | 152,582 |
Current liabilities: | ||
Accounts payable | 3,872 | 2,133 |
Current portion of operating lease liability | 1,011 | 2,052 |
Current portion of liability related to sale of future royalties | 836 | 2,779 |
Other accrued current liabilities | 5,064 | 4,799 |
Total current liabilities | 10,783 | 11,763 |
Operating lease liability, net of current portion | 11,997 | 5,156 |
Liability related to sale of future royalties, net of current portion | 10,686 | 12,150 |
Other long-term liabilities | 171 | 109 |
Total liabilities | 33,637 | 29,178 |
Commitments and contingencies (Note 10) | ||
Stockholders’ equity: | ||
Preferred Stock: $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding as of December 31, 2021 or 2020 | 0 | 0 |
Common Stock: $0.0001 par value; 150,000,000 shares authorized; 125,594,393 and 110,271,093 shares issued and outstanding as of December 31, 2021 and 2020, respectively | 13 | 11 |
Additional paid-in capital | 406,943 | 272,274 |
Accumulated deficit | (219,351) | (148,881) |
Accumulated other comprehensive loss | (74) | 0 |
Total stockholders’ equity | 187,531 | 123,404 |
Total liabilities and stockholders’ equity | $ 221,168 | $ 152,582 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 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) | 125,594,393 | 110,271,093 |
Common stock, shares outstanding (in shares) | 125,594,393 | 110,271,093 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue: | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 892 | $ 4,046 | $ 9,862 |
Revenue | 892 | 4,046 | 9,862 |
Operating expenses: | |||
Research and development | 48,749 | 19,863 | 14,540 |
General and administrative | 21,890 | 15,202 | 6,187 |
Impairment of intangible assets | 3,005 | 0 | 0 |
Restructuring charges (reversals) | 0 | (849) | 4,920 |
Total operating expenses | 73,644 | 34,216 | 25,647 |
Operating loss | (72,752) | (30,170) | (15,785) |
Other income (expense): | |||
Interest income | 81 | 75 | 149 |
Interest expense | 0 | 0 | (315) |
Non-cash interest expense related to sale of future royalties | (1,480) | (1,874) | (2,073) |
Gain on sale of equipment | 0 | 0 | 1 |
Gain on remeasurement of future royalty liability | 3,789 | 0 | 0 |
Loss on debt extinguishment | 0 | 0 | (100) |
Foreign exchange loss, net | (1) | (13) | (32) |
Loss before income taxes | (70,363) | (31,982) | (18,155) |
Provision for income taxes | 107 | 238 | 490 |
Net loss | $ (70,470) | $ (32,220) | $ (18,645) |
Net loss per share – basic and diluted (in dollars per share) | $ (0.58) | $ (0.36) | $ (0.86) |
Shares used to compute net loss per share – basic and diluted (in shares) | 121,453,723 | 88,295,762 | 21,569,523 |
Comprehensive loss: | |||
Net loss | $ (70,470) | $ (32,220) | $ (18,645) |
Unrealized loss on available-for-sale investments, net of tax | (74) | 0 | 0 |
Comprehensive loss | (70,544) | (32,220) | (18,645) |
Customer Service Contracts [Member] | |||
Revenue: | |||
Revenue from Contract with Customer, Including Assessed Tax | 13 | 198 | 406 |
Revenue | 13 | 198 | 406 |
Government Contract [Member] | |||
Revenue: | |||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | (20) |
Revenue | 0 | 0 | (20) |
Royalty [Member] | |||
Revenue: | |||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 2,962 | 4,446 |
Revenue | 0 | 2,962 | 4,446 |
Non Cash Royalty Revenue [Member] | |||
Revenue: | |||
Revenue from Contract with Customer, Including Assessed Tax | 879 | 886 | 5,030 |
Revenue | $ 879 | $ 886 | $ 5,030 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member]The March 2020 Offering [Member]Underwriters' Designees [Member] | Common Stock [Member]The March 2020 Offering [Member] | Common Stock [Member]The September 2019 Offering [Member]Underwriters' Designees [Member] | Common Stock [Member]The September 2019 Offering [Member] | Common Stock [Member]The July 2020 Offering [Member] | Common Stock [Member]The April 2019 Offering [Member]Underwriters' Designees [Member] | Common Stock [Member]The April 2019 Offering [Member] | Common Stock [Member]The December 2020 Offering [Member] | Common Stock [Member]The October 2020 Offering [Member]Underwriters' Designees [Member] | Common Stock [Member]Placement Agents' Designees [Member] | Common Stock [Member] | Additional Paid-in Capital [Member]The March 2020 Offering [Member]Underwriters' Designees [Member] | Additional Paid-in Capital [Member]The March 2020 Offering [Member] | Additional Paid-in Capital [Member]The September 2019 Offering [Member]Underwriters' Designees [Member] | Additional Paid-in Capital [Member]The September 2019 Offering [Member] | Additional Paid-in Capital [Member]The July 2020 Offering [Member] | Additional Paid-in Capital [Member]The April 2019 Offering [Member]Underwriters' Designees [Member] | Additional Paid-in Capital [Member]The April 2019 Offering [Member] | Additional Paid-in Capital [Member]The December 2020 Offering [Member] | Additional Paid-in Capital [Member]The October 2020 Offering [Member]Underwriters' Designees [Member] | Additional Paid-in Capital [Member]Placement Agents' Designees [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member]The March 2020 Offering [Member]Underwriters' Designees [Member] | Retained Earnings [Member]The March 2020 Offering [Member] | Retained Earnings [Member]The September 2019 Offering [Member]Underwriters' Designees [Member] | Retained Earnings [Member]The September 2019 Offering [Member] | Retained Earnings [Member]The July 2020 Offering [Member] | Retained Earnings [Member]The April 2019 Offering [Member]Underwriters' Designees [Member] | Retained Earnings [Member]The April 2019 Offering [Member] | Retained Earnings [Member]The December 2020 Offering [Member] | Retained Earnings [Member]The October 2020 Offering [Member]Underwriters' Designees [Member] | Retained Earnings [Member]Placement Agents' Designees [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member]The March 2020 Offering [Member]Underwriters' Designees [Member] | AOCI Attributable to Parent [Member]The March 2020 Offering [Member] | AOCI Attributable to Parent [Member]The July 2020 Offering [Member] | AOCI Attributable to Parent [Member]The December 2020 Offering [Member] | AOCI Attributable to Parent [Member]The October 2020 Offering [Member]Underwriters' Designees [Member] | AOCI Attributable to Parent [Member] | The March 2020 Offering [Member]Underwriters' Designees [Member] | The March 2020 Offering [Member] | The September 2019 Offering [Member]Underwriters' Designees [Member] | The September 2019 Offering [Member] | The July 2020 Offering [Member] | The April 2019 Offering [Member]Underwriters' Designees [Member] | The April 2019 Offering [Member] | The December 2020 Offering [Member] | The October 2020 Offering [Member]Underwriters' Designees [Member] | The October 2020 Offering [Member] | Placement Agents' Designees [Member] | Total |
Balances (in shares) at Dec. 31, 2018 | 7,141,189 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balances at Dec. 31, 2018 | $ 1 | $ 109,226 | $ (98,016) | $ 11,211 | |||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock, net of offering costs (in shares) | 1,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock, net of offering costs | $ 0 | 2,440 | 0 | 2,440 | |||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock warrants to placement agents’ designees | $ 0 | $ 0 | $ 0 | $ 333 | $ 497 | $ 100 | $ 0 | $ 0 | $ 0 | $ 333 | $ 497 | $ 100 | |||||||||||||||||||||||||||||||||||||||
Issuance of common stock, pre-funded warrants and common stock warrants, net of offering costs (in shares) | 925,455 | 26,124,828 | |||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock, pre-funded warrants and common stock warrants, net of offering costs | $ 0 | $ 3 | $ 7,741 | $ 7,239 | $ 0 | $ 0 | $ 7,741 | $ 7,242 | |||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of pre-funded warrants (in shares) | 12,265,455 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of pre-funded warrants | $ 1 | 1,225 | 0 | 1,226 | |||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of common stock warrants (in shares) | 598,067 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of common stock warrants | $ 0 | 180 | 0 | 180 | |||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation | 0 | 627 | 0 | 627 | |||||||||||||||||||||||||||||||||||||||||||||||
Net loss | $ 0 | 0 | (18,645) | $ (18,645) | |||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of options (in shares) | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balances (in shares) at Dec. 31, 2019 | 48,254,994 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balances at Dec. 31, 2019 | $ 5 | 129,608 | (116,661) | $ 0 | $ 12,952 | ||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock, net of offering costs (in shares) | 12,503,806 | 692,651 | |||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock, net of offering costs | $ 1 | $ 0 | $ 97,033 | $ 4,900 | $ 0 | $ 0 | $ 0 | $ 0 | $ 97,034 | $ 4,900 | |||||||||||||||||||||||||||||||||||||||||
Issuance of common stock warrants to placement agents’ designees | $ 0 | $ 453 | $ 0 | $ 0 | $ 453 | ||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock, pre-funded warrants and common stock warrants, net of offering costs (in shares) | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock, pre-funded warrants and common stock warrants, net of offering costs | $ 0 | $ 8,722 | $ 0 | $ 0 | $ 8,722 | ||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of common stock warrants (in shares) | 44,404,966 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of common stock warrants | $ 5 | 25,946 | 0 | 0 | 25,951 | ||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation | 0 | 4,358 | 0 | 0 | 4,358 | ||||||||||||||||||||||||||||||||||||||||||||||
Net loss | $ 0 | 0 | (32,220) | 0 | $ (32,220) | ||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of options (in shares) | 414,676 | 414,676 | |||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of options | $ 0 | 602 | 0 | 0 | $ 602 | ||||||||||||||||||||||||||||||||||||||||||||||
Disgorgement of short-swing profits, net of costs | $ 0 | 652 | 0 | 0 | 652 | ||||||||||||||||||||||||||||||||||||||||||||||
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, net of offering costs (in shares) | 13,239,839 | 13,239,839 | |||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock, net of offering costs | $ 2 | $ 122,208 | $ 0 | $ 0 | $ 122,210 | ||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of pre-funded warrants (in shares) | 1,070,921 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of pre-funded warrants | $ 0 | 1,745 | 0 | 0 | 1,745 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation | 0 | 8,867 | 0 | 0 | 8,867 | ||||||||||||||||||||||||||||||||||||||||||||||
Net loss | 0 | 0 | (70,470) | 0 | $ (70,470) | ||||||||||||||||||||||||||||||||||||||||||||||
Issuance of common stock upon exercise of options (in shares) | 1,070,921 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized losses on available-for-sale investments | $ 0 | 0 | 0 | (74) | $ (74) | ||||||||||||||||||||||||||||||||||||||||||||||
Balances (in shares) at Dec. 31, 2021 | 125,594,393 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balances at Dec. 31, 2021 | $ 13 | $ 406,943 | $ (219,351) | $ (74) | $ 187,531 |
Consolidated Statement of Sto_2
Consolidated Statement of Stockholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
The March 2020 Offering [Member] | |||
Offering costs | $ 1,278 | ||
The September 2019 Offering [Member] | |||
Offering costs | $ 1,579 | ||
The July 2020 Offering [Member] | |||
Offering costs | 2,966 | ||
The April 2019 Offering [Member] | |||
Offering costs | 1,459 | ||
The December 2020 Offering [Member] | |||
Offering costs | $ 563 | ||
The October 2020 Offering [Member] | Underwriters' Designees [Member] | |||
Offering costs | $ 5,752 | ||
Offering costs | $ 560 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net loss | $ (70,470,000) | $ (32,220,000) | $ (18,645,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 4,208,000 | 2,710,000 | 3,596,000 |
Gain on sale of equipment | 0 | 0 | (1,000) |
Accretion of premium on investments | 85,000 | 0 | 0 |
Impairment of property and equipment and right-of-use assets | 0 | 0 | 1,272,000 |
Impairment of intangible assets | 3,005,000 | 0 | 0 |
Stock-based compensation | 8,867,000 | 4,358,000 | 627,000 |
Non-cash interest expense | 0 | 0 | 88,000 |
Gain on remeasurement of future royalty liability | (3,789,000) | 0 | 0 |
Loss on debt extinguishment | 0 | 0 | 100,000 |
Non-cash interest expense related to sale of future royalties | 1,480,000 | 1,874,000 | 2,073,000 |
Non-cash revenue related to sale of future royalties | (1,098,000) | (3,277,000) | (3,482,000) |
Change in operating assets and liabilities: | |||
Accounts receivable | 263,000 | 3,285,000 | (1,823,000) |
Prepaid expenses and other assets | (1,800,000) | (1,108,000) | 855,000 |
Accounts payable | 1,626,000 | 1,207,000 | (62,000) |
Accrued liabilities | (2,209,000) | (579,000) | 2,312,000 |
Net cash used in operating activities | (59,832,000) | (23,750,000) | (13,090,000) |
Cash flows from investing activities: | |||
Purchase of property and equipment | (5,157,000) | (1,223,000) | (850,000) |
Proceeds from sale of equipment | 0 | 3,000 | 0 |
Purchases of investments | (44,811,000) | 0 | 0 |
Proceeds from maturities of investments | 5,700,000 | 0 | 0 |
Net cash used in investing activities | (49,097,000) | (1,220,000) | (850,000) |
Cash flows from financing activities: | |||
Net proceeds from issuance of common stock in registered direct offerings | 0 | 9,175,000 | 2,540,000 |
Proceeds from issuance of common stock upon exercise of pre-funded warrants | 0 | 0 | 1,226,000 |
Proceeds from issuance of common stock upon exercise of common stock warrants | 1,849,000 | 25,951,000 | 180,000 |
Proceeds from issuance of common stock upon exercise of stock options | 1,745,000 | 602,000 | 0 |
Disgorgement of short-swing profits, net of costs | 0 | 652,000 | 0 |
Repayment of principal on secured promissory note payable to Oxford Finance | 0 | 0 | (3,799,000) |
Net cash provided by financing activities | 125,804,000 | 138,314,000 | 15,960,000 |
Net increase in cash and cash equivalents | 16,875,000 | 113,344,000 | 2,020,000 |
Cash and cash equivalents at beginning of the period | 126,870,000 | 13,526,000 | 11,506,000 |
Cash and cash equivalents at end of the period | 143,745,000 | 126,870,000 | 13,526,000 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 0 | 0 | 227,000 |
Supplemental disclosure of non-cash investing and financing activity: | |||
Issuance of warrants to placement agents’ designees | 0 | 453,000 | 100,000 |
Issuance of warrants to underwriters’ designees | 0 | 0 | 830,000 |
Operating lease liabilities arising from obtaining right-of-use assets | 8,395,000 | 5,664,000 | 1,929,000 |
Property and equipment acquired as an incentive to enter an operating lease | 0 | 87,000 | 0 |
Lease-related assets and liabilities derecognized on early termination and modification of leases | 321,000 | 0 | 0 |
Acquisition of property and equipment included in accounts payable and accrued expenses | 453,000 | 78,000 | 4,000 |
Proceeds due for sale of property and equipment included in prepaid expenses and other current assets | 0 | 0 | 3,000 |
ATM Program [Member] | |||
Cash flows from financing activities: | |||
Net proceeds from issuance of common stock in registered direct offerings | 122,210,000 | 101,934,000 | 0 |
The April 2019 Offering [Member] | |||
Cash flows from financing activities: | |||
Net proceeds from issuance of common stock, pre-funded warrants and common warrants in underwritten offering | 0 | 0 | 8,074,000 |
The September 2019 Offering [Member] | |||
Cash flows from financing activities: | |||
Net proceeds from issuance of common stock, pre-funded warrants and common warrants in underwritten offering | 0 | 0 | 7,739,000 |
Kindred BioSciences GMP Line Acquisition [Member] | |||
Cash flows from investing activities: | |||
Acquisition of business | $ (4,829,000) | $ 0 | $ 0 |
Note 1 - Organization and Basis
Note 1 - Organization and Basis of Presentation | 12 Months Ended |
Dec. 31, 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, February 2018, On March 20, 2019, “March 2019 March 2019 five March 2019 11 December 31, 2021, March 2019 On April 11, 2019, “April 2019 five Pursuant to the terms of an underwriting agreement, the Company paid the underwriters aggregate commissions and reimbursable costs of $750,000. In addition, the Company issued the underwriters’ designees 636,364 common stock warrants at the closing of the April 2019 five 11 The total gross proceeds from the April 2019 December 31, 2021, April 2019 On September 30, 2019, “September 2019 3,558,161 4,000,000 five Pursuant to the terms of an underwriting agreement, the Company paid the underwriters aggregate commissions and reimbursable costs of $713,000. In addition, the Company issued the underwriters’ designees 2,115,738 common stock warrants at the closing of the September 2019 five 11 The total gross proceeds from the September 2019 December 31, 2021, September 2019 On March 2, 2020, “March 2020 five March 2020 five March 2020 11 The total gross proceeds from the March 2020 December 31, 2021, March 2020 On June 8, 2020, On July 13, 2020, July 8, 2020. On October 13, 2020, “October 2020 October 13, 2020, December 31, 2020, October 2020 2020. In the year ended December 31, 2021, October 2020 October 2020 December 31, 2021, October 2020 On September 13, 2021, October 2020 September 15, 2021, “September 2021 may September 16, 2021, December 31, 2021, September 2021 The Company’s principal operations are based in South San Francisco, California, and it operates in one |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. Basis of Presentation Basis of Consolidation Use of Estimates Foreign Currencies no Cash and Cash Equivalents three may 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 Accounts Receivable 2019, 6 no December 31, 2021 2020 Property and Equipment The useful lives of the property and equipment are as follows: Laboratory equipment (in years) 5 Office and computer equipment (in years) 3 Leasehold improvements Shorter of remaining lease term or estimated useful life Goodwill and Other Intangible Assets not Impairment of Long-Lived Assets fourth may not December 31, 2019 ( 14 December 31, 2021 ( 5 Accrued Clinical and Manufacturing Expenses third not The Company estimates the amount of services provided through discussions with internal personnel and external service providers as to the progress or stage of completion of the services and the agreed-upon fee to be paid for such services. The Company makes significant judgments and estimates in determining the accrued balance in each reporting period. As actual costs become known, it adjusts its accrued estimates. Although the Company does not may third not Leases one not not Revenue Recognition five (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account. Revenue from royalties earned as a percentage of sales, including milestone payments based on achieving a specified level of sales, where a license is deemed to be the predominant item to which the royalties relate, is recognized as revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied), as required under the sales- and usage-based royalty exception. Revenue from contracts with customers is recognized ratably, based on costs incurred, as the Company provides promised services to its customers in amounts that reflect the consideration that the Company expects to receive for those services. The Company performed research and development work under its cost-plus-fixed-fee contract with HHS BARDA. The Company recognizes revenue under research contracts only when a contract has been executed and the contract price is fixed or determinable. Revenue from the HHS BARDA contract is recognized in the period during which the related costs are incurred and the related services are rendered, provided that the applicable conditions under the contract have been met. Costs of contract revenue are recorded as a component of operating expenses in the consolidated statements of operations and comprehensive loss. Under cost reimbursable contracts, the Company recognizes revenue as allowable costs are incurred and the fixed fee is earned. Reimbursable costs under the contract primarily include direct labor, subcontract costs, materials, equipment, travel, and approved overhead and indirect costs. Fixed fees under cost reimbursable contracts are earned in proportion to the allowable costs incurred in performance of the work relative to total estimated contract costs, with such costs incurred representing a reasonable measurement of the proportional performance of the work completed. Payments to the Company under cost reimbursable contracts, such as this contract, are provisional payments subject to adjustment upon annual audit by the government. Management believes that revenue for periods not may Research and Development Costs third Stock-Based Compensation Net Income (Loss) Per Share Diluted net income (loss) per common share is computed giving effect to all potential dilutive common shares, comprising common stock issuable upon exercise of stock options and warrants. The Company uses the treasury-stock method to compute diluted income (loss) per share with respect to its stock options and warrants. For purposes of this calculation, options and warrants to purchase common stock are considered to be potential common shares and are only included in the calculation of diluted net income per share when their effect is dilutive. In the event of a net loss, the effects of all potentially dilutive shares are excluded from the diluted net loss per share calculation as their inclusion would be antidilutive. Reclassification Prior year data is subject to reclassification to conform to current year presentation. Recently Adopted Accounting Pronouncements In August 2020, 2020 06, Debt - Debt with Conversion and Other Options (Subtopic 470 20 815 40 none January 1, 2021. Recent Accounting Pronouncements The Company has reviewed all significant newly-issued accounting pronouncements that are not not not |
Note 3 - Business Combination
Note 3 - Business Combination | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 3. On November 30, 2021, The fair value of the assets acquired in connection with the acquisition are as follows (in thousands): Property and equipment $ 321 Goodwill 4,508 Total purchase price $ 4,829 In addition, the Company paid $671,000 in prepaid rent in connection with the modification of the pre-existing embedded lease at the Burlingame facility (see Note 8 Goodwill, which represents the excess of the purchase price over the fair value of assets acquired, is attributable primarily to the expected cost savings of manufacturing internally, as opposed to outsourcing, and the assembled workforce. All of the goodwill is expected to be deductible for income tax purposes. |
Note 4 - Fair Value of Financia
Note 4 - Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 4. 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 consolidated 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 December 31, 2021 2020 Level 1 Level 2 Level 3 Total December 31, 2021 Recurring financial assets: Money market funds $ 70,978 $ — $ — $ 70,978 U.S. Treasury securities — 24,997 — 24,997 Commercial paper — 7,491 — 7,491 Corporate debt securities — 6,464 — 6,464 Total assets $ 70,978 $ 38,952 $ — $ 109,930 Level 1 Level 2 Level 3 Total December 31, 2020 Recurring financial assets: Money market funds $ 60,005 $ — $ — $ 60,005 Total assets $ 60,005 $ — $ — $ 60,005 The Company held no financial liabilities measured on a recurring basis as of December 31, 2021 2020, December 31, 2021, 2020 2019. |
Note 5 - Balance Sheet Componen
Note 5 - Balance Sheet Components | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | NOTE 5. (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 December 31, 2021 Cash at banks $ 72,767 $ — $ — $ 72,767 $ 72,767 $ — $ — Money market funds 70,978 — — 70,978 70,978 — — U.S. Treasury securities 25,055 — (58 ) 24,997 — 12,022 12,975 Commercial paper 7,491 — — 7,491 — 7,491 — Corporate debt securities 6,480 — (16 ) 6,464 — 3,229 3,235 Total $ 182,771 $ — $ (74 ) $ 182,697 $ 143,745 $ 22,742 $ 16,210 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 $71,000 and $334,000 as of December 30, 2021 2020, (c) Property and Equipment, Net Property and equipment, net consists of the following (in thousands): December 31, 2021 December 31, 2020 Laboratory equipment $ 5,057 $ 1,759 Office and computer equipment 481 294 Leasehold improvements 1,063 — Construction in progress 1,305 — Total property and equipment 7,906 2,053 Less: accumulated depreciation (1,305 ) (573 ) Property and equipment, net $ 6,601 $ 1,480 Depreciation expense was $732,000, $114,000 and $504,000 for the years ended December 31, 2021, 2020 2019 one 14 December 31, 2019, (d) Right-of-Use Assets, Net Right-of-use assets consist of the following (in thousands): December 31, 2021 December 31, 2020 Facilities $ 13,168 $ 6,836 Office equipment — 2 Right-of-use assets, net $ 13,168 $ 6,838 The right of use of one 14 December 31, 2019, (e) Intangible Assets, Net Intangible assets comprise developed technology, intellectual property and, until it was considered fully impaired, in-process research and development. 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 December 31, 2021, December 31, 2021 December 31, 2020 Developed technology $ 10,600 $ 20,300 Intellectual property 80 80 Total cost 10,680 20,380 Less: accumulated amortization (56 ) (5,019 ) Intangible assets, net $ 10,624 $ 15,361 Intangible asset amortization expense was $1.7 million, $1.7 million and $2.3 million for the years ended December 31, 2021, 2020 2019 19 7 December 31, 2021, As of December 31, 2021 Year Ending December 31, Amount 2022 $ 1,350 2023 1,350 2024 1,350 2025 1,350 2026 1,350 Thereafter 3,874 Total $ 10,624 (f) Other Accrued Liabilities Other accrued liabilities consist of the following (in thousands): December 31, 2021 December 31, 2020 Accrued compensation $ 2,786 $ 1,618 Accrued clinical and manufacturing expenses 986 1,772 Accrued professional and consulting services 556 777 Other liabilities, current portion 736 632 Total $ 5,064 $ 4,799 |
Note 6 - Revenue
Note 6 - Revenue | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Revenue [Text Block] | NOTE 6. Service Contracts with Customers Contract Balances. December 31, 2021 2020. December 31, 2021 2020, nil Remaining Performance Obligations. December 31, 2021 2020, no nil not not not U.S. Government HHS BARDA Contract In September 2015, May 25 July 18, 2017, June 28, 2018, September 30, 2018. December 31, 2021 no Billings under the contract are based on approved provisional indirect billing rates, which permit recovery of fringe benefits, overhead and general and administrative expenses. Indirect rates as well as allowable costs are subject to audit by HHS BARDA on an annual basis. Management believes that revenues recognized to date have been recorded in amounts that are expected to be realized upon final audit and settlement. When the final determination of the allowable costs for any year has been made, revenue and billings may three December 31, 2019, 2018 may not December 31, 2021, Royalty agreements Aviragen entered into a royalty-bearing research and license agreement with GlaxoSmithKline, plc (“GSK”) in 1990 July 2019 2021, 2020 2019, nil, 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 2021, 2020 2019, nil, 7 2021, 2020 2019, December 31, 2021, 2020 2019, |
Note 7 - Liabilities Related to
Note 7 - Liabilities Related to Sale of Future Royalties | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Liabilities Related to Sale of Future Royalties [Text Block] | NOTE 7. 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 was accounted for as a liability that is being amortized using the effective 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 year ended December 31, 2021 ( Total liability related to sale of future royalties, start of year $ 14,929 Non-cash royalty revenue paid to HCRP (1,098 ) Non-cash interest expense recognized 1,480 Revaluation gain recognized (3,789 ) Total liability related to sale of future royalties, end of year 11,522 Current portion (836 ) Long-term portion $ 10,686 Due to a decline in royalties earned since the outbreak of COVID- 19, December 31, 2021, |
Note 8 - Leases
Note 8 - Leases | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 8. The Company has obtained the right of use for office and manufacturing facilities under five one The Company obtained the right of use of real estate located in South San Francisco, California, in November 2020 September 30, 2025, March 31, 2029, no June 2015 April 30, 2020, five July 2019, April 30, 2025, March 31, 2029, eight December 31, 2019 ( 14 one July 31, 2022, no March 30, 2029, five September 2022. May 31, 2025, 3 February 2018, February 28, 2021, no November 30, 2018. As of December 31, 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 December 31, 2021 ( Year Ending December 31, Amount 2022 $ 2,071 2023 2,123 2024 2,195 2025 2,297 2026 2,852 Thereafter 6,770 Undiscounted total 18,308 Less: imputed interest (5,300 ) Present value of future minimum payments 13,008 Current portion of operating lease liability (1,011 ) Operating lease liability, net of current portion $ 11,997 The Company presently has no finance leases and future obligations of $14,000 for facilities and $8,000 for equipment under operating leases with initial terms of 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 years ended December 31, 2021 2020 2019, Year Ended December 31, 2021 2020 2019 Lease cost Operating lease cost $ 2,513 $ 1,145 $ 959 Short-term lease cost 340 13 15 Variable lease cost 1,233 264 162 Sublease income (36 ) (217 ) (217 ) Total lease cost $ 4,050 $ 1,205 $ 919 Net cash outflows associated with operating leases totaled $4.4 million, $1.1 million and $983,000 in the years ended December 31, 2021, 2020 2019, |
Note 9 - Secured Promissory Not
Note 9 - Secured Promissory Note Payable to Oxford Finance | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Secured Promissory Note Payable [Text Block] | NOTE 9. On December 22, 2016, $5.0 30 four first 12 36 In conjunction with the execution of the Loan Agreement, all the holders of convertible promissory notes signed subordination agreements, under which they agreed to subordinate in favor of Oxford Finance all amounts due under their promissory notes and any security interest in the Company’s property. In addition, the holders of the notes agreed that they would not In connection with the Loan Agreement, the Company issued a warrant to Oxford Finance to purchase 7,563 shares of its Series C convertible preferred stock at an exercise price of $33.11 per share (the “Warrant”). The fair value of the Warrant at the date of issuance was approximately $134,000 which, along with other initial costs, was recorded as debt discount and was amortized as interest expense over the term of the loan using the effective-interest method. Due to the antidilution protection, following the Merger, the Warrant was amended to allow the holder to purchase 10,914 shares of common stock at an exercise price of $22.99 per share. The annual effective interest rate of the note, including the accretion of the final payment and the amortization of the debt discount, was approximately 10.5%. The Company recorded interest expense related to the Loan Agreement of $311,000 during the year ended December 31, 2019, November 4, 2019. |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 10. (a) Purchase Commitments As of December 31, 2021 eighteen Note 8 March 31, 2029, not (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 Ennis v. Latour, et al second November 25, 2020. March 15, 2021, second third June 11, 2021. third third June 2020; April 24, 2020, two June 8, 2020. third no August 31, 2021, third not 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, November 30, 2021 December 1, 2021, not In August September 2020, two first 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, August 9, 2021, three 10 10b 5, 20 20A first July 8, 2021, first December 22, 2021, February 2, 2022, February 8, 2022, 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 On March 5, 2021, June 2, 2021, February 10, 2022, No not not may |
Note 11 - Stockholders' Equity
Note 11 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 11. (a) Convertible Preferred 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 December 31, 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 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: December 31, 2021 December 31, 2020 Options issued and outstanding 10,216,106 6,813,033 Available for future grants of equity awards 5,582,742 1,230,863 Common stock warrants 232,434 1,244,974 Total 16,031,282 9,288,870 (c) Warrants The Company has the following warrants outstanding as of December 31, 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 The aggregate fair value at issuance of the warrants issued to the placement agents’ designees at the closing of the March 2019 March 2020 April 2019 September 2019 1 Offering March 2019 April 2019 September 2019 March 2020 Aggregate valuation on issuance date $ 100,000 $ 333,000 $ 497,000 $ 453,000 Number of warrants issued 84,000 636,364 2,115,738 280,000 Exercise price $ 3.125 $ 1.375 $ 0.375 $ 3.125 Closing stock price $ 2.08 $ 0.89 $ 0.36 $ 2.34 Risk-free interest rate 2.34 % 2.31 % 1.55 % 0.88 % Expected term (in years) 5.00 5.00 5.00 4.99 Expected volatility 80 % 83 % 83 % 98 % Dividend yield — % — % — % — % 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 12 - Equity Incentive Plan
Note 12 - Equity Incentive Plans | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 12. 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 each of the three December 31, 2021 Weighted Shares Number of Average Available Options Exercise For Grant Outstanding Price Balance at January 1, 2019 200,650 865,163 $ 8.13 Authorized under 2019 Plan on Adoption 1,600,000 — $ — Removed from 2016 Plan (223,389 ) — $ — Granted (1,791,030 ) 1,791,030 $ 0.67 Forfeited 483,849 (592,528 ) $ 1.57 Canceled 25,100 (252,013 ) $ 9.25 Balance at December 31, 2019 295,180 1,811,652 $ 2.74 Authorized under 2019 Plan Amendment 6,400,000 — $ — Granted (5,579,800 ) 5,579,800 $ 2.66 Exercised — (414,676 ) $ 1.45 Forfeited 105,910 (105,992 ) $ 1.65 Canceled 9,573 (57,751 ) $ 10.57 Balance at December 31, 2020 1,230,863 6,813,033 $ 2.70 Authorized under 2019 Plan Amendment 8,900,000 — $ — Granted (5,178,438 ) 5,178,438 $ 7.09 Exercised — (1,070,921 ) $ 1.63 Forfeited 630,317 (650,054 ) $ 3.16 Canceled — (54,390 ) $ 11.98 Balance at December 31, 2021 5,582,742 10,216,106 $ 4.96 As of December 31, 2021 The aggregate intrinsic value represents the total pre-tax value (i.e., the difference between the Company’s stock price and the exercise price) of stock options outstanding as of December 31, 2021 The Company received $1.7 million for the 1,070,921 options exercised during the year ended December 31, 2021, December 31, 2020, December 31, 2019 On June 15, 2020, ten November 30, 2020, third third third November 30, 2020, July 9, 2020, July 20, 2020 July 24, 2020, June 30, 2020, three September 30, 2020. Excluding these performance-based options, the weighted average grant date fair value of options awarded in the years ended December 31, 2021, 2020 2019 Year Ended December 31, 2021 2020 2019 Risk-free interest rate 0.91% - 1.35% 0.40% - 0.88% 1.68% - 2.31% Expected term (in years) 5.44 - 6.08 5.22 - 10.00 5.39 - 10.00 Expected volatility 122% - 131% 94% - 111% 83% - 85% 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 (in thousands): Year Ended December 31, 2021 2020 2019 Research and development $ 4,304 $ 1,563 $ 253 General and administrative 4,563 2,795 374 Total stock-based compensation $ 8,867 $ 4,358 $ 627 Effective June 16, 2021, three ten June 16, 2023. three June 30, 2021. As of December 31, 2021 |
Note 13 - Related Party Transac
Note 13 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 13. In April 2020, 16 1934, |
Note 14 - Restructuring Charges
Note 14 - Restructuring Charges (Reversals) | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | NOTE 14. Restructuring liabilities primarily consisted of the estimated future obligations for contract suspension costs and severance and benefits obligations. These restructuring liabilities, all of which were paid in the year ending December 31, 2020, The Company approved a reduction-in-force during the year ended December 31, 2019, three March 31, 2020. September 2020 no December 31, 2020, December 31, 2021, not Cumulative restructuring costs incurred and a reconciliation of the change in related liabilities during the years ended December 31, 2019 2020, Suspension Severance Impairment of Contract Benefits Charges Other Total Cumulative cost incurred as of December 31, 2021 $ 2,252 $ 368 $ 1,272 $ 179 $ 4,071 Reconciliation of liabilities: Balance at January 1, 2019 $ — $ — $ — $ — $ — Period charges 3,223 368 1,272 57 4,920 Settlements — — (1,272 ) — (1,272 ) Balance at December 31, 2019 3,223 368 — 57 3,648 Period charges — — — 122 122 Period reversals (971 ) — — — (971 ) Settlements (2,252 ) (368 ) — (179 ) (2,799 ) Balance at December 31, 2020 $ — $ — $ — $ — $ — There was no restructuring liability as of December 31, 2021. |
Note 15 - Benefit Plan
Note 15 - Benefit Plan | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | NOTE 15. The Company provides a tax-qualified employee savings and retirement plan commonly known as a 401 may $19,500 2021 2020, $19,000 2019. 50 may $6,500 2021 2020, $6,000 2019. Employees direct their contributions, which vest immediately, across a series of mutual funds. In the years ended December 31, 2021, 2020 2019, December 31, 2021, 2020 2019, December 31, 2021, 2020 2019, |
Note 16 - Income Taxes
Note 16 - Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 16. The provision for income taxes consists of the following (in thousands): Year Ended December 31, 2021 2020 2019 Current: Federal $ — $ — $ — State 1 3 2 Foreign 106 235 488 Total Current 107 238 490 Deferred: Federal — — — State — — — Foreign — — — Total Deferred — — — Provision for income taxes $ 107 $ 238 $ 490 The components of the deferred tax assets are as follows (in thousands): December 31, 2021 December 31, 2020 December 31, 2019 Deferred tax assets: Net operating loss carryforwards $ 30,256 $ 14,161 $ 6,924 Research and development tax credits 4,923 2,497 1,591 Capitalized research and development 4,016 4,534 4,773 Sale of future royalties 5,826 7,178 7,486 Lease liability 3,184 1,695 492 Accruals, reserves and other 3,043 1,327 1,253 Total deferred tax assets 51,248 31,392 22,519 Valuation allowance (42,589 ) (21,952 ) (13,365 ) Deferred tax assets net of valuation allowance 8,659 9,440 9,154 Deferred tax liabilities: Intangible assets (5,410 ) (7,832 ) (8,730 ) Right-of-use assets (3,223 ) (1,608 ) (424 ) Depreciation on property and equipment (26 ) — — Total deferred tax liabilities (8,659 ) (9,440 ) (9,154 ) Net deferred tax assets $ — $ — $ — A reconciliation of the provision for income taxes with the expected provision for income taxes computed by applying the federal statutory income tax rate of 21% Year Ended December 31, 2021 2020 2019 U.S. federal taxes at statutory rate 21.0 % 21.0 % 21.0 % State taxes (net of federal benefit) 4.0 2.9 0.4 Foreign rate differential 0.3 (0.7 ) (2.6 ) Permanently non-deductible items 0.2 2.2 (3.7 ) Tax credits 3.4 2.8 1.7 Change in valuation allowance (29.3 ) (26.8 ) 194.2 Tax attributes write-off due to change in control — 0.5 (208.3 ) Prior year true-up 0.6 (2.5 ) (0.9 ) Other (0.3 ) (0.1 ) (4.5 ) Provision for income taxes (0.1 )% (0.7 )% (2.7 )% The Company’s actual tax expense differed from the statutory federal income tax expense using a tax rate of 21% for the year ended December 31, 2019, December 31, 2021, 2020 2019 As of December 31, 2021, 2020 2019 not 2024 2028 2019 As of December 31, 2021 not may not As of December 31, 2021, 2020 2019 2039, not Sections 382 383 not 382 383 not The Company is required to reduce its deferred tax assets by a valuation allowance if it is more likely than not not December 31, 2021, 2020 2019 December 31, 2021 2020, December 31, 2019. 2019 September 30, 2019. The Company records unrecognized tax benefits, where appropriate, for all uncertain income tax positions. The Company recorded unrecognized tax benefits for uncertain tax positions of approximately $2.4 million and $1.3 million as of December 31, 2021 2020 none A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): Year Ended December 31, 2021 2020 2019 Beginning Balance $ 1,281 $ 851 $ 1,582 Additions based on tax positions related to the current year 1,132 431 159 Increase (decreases) related to prior years’ tax positions 9 (1 ) (890 ) Ending Balance $ 2,422 $ 1,281 $ 851 The Company’s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. During the years ended December 31, 2021, 2020 2019 no twelve The Company files income tax returns in the U.S. and Australia, as well as with various U.S. states. The Company is subject to tax audits in all jurisdictions in which it files income tax returns. Tax audits by their very nature are often complex and can require several years to complete. There are currently no Under the tax statute of limitations applicable to the Internal Revenue Code, the Company and its U.S. subsidiary, either standalone or as part of the consolidated group, is no 2018. no 2017 2016 |
Note 17 - Net Loss Per Share At
Note 17 - Net Loss Per Share Attributable to Common Stockholders | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 17. The following table presents the calculation of basic and diluted net loss per share (in thousands, except share and per share amounts): Year Ended December 31, 2021 2020 2019 Net loss $ (70,470 ) $ (32,220 ) $ (18,645 ) Shares used to compute net loss per share, basic and diluted 121,453,723 88,295,762 21,569,523 Net loss per share attributable to common stockholders, basic and diluted $ (0.58 ) $ (0.36 ) $ (0.86 ) No adjustment has been made to the net loss attributable to common stockholders as the effect would be anti-dilutive due to the net loss. The following potentially dilutive securities were excluded from the computation of diluted weighted average shares outstanding because they would have been antidilutive: Year Ended December 31, 2021 2020 2019 Options to purchase common stock 8,206,137 4,409,806 1,583,575 Warrants to purchase common stock 369,043 14,773,425 17,579,945 Total potentially dilutive securities excluded from denominator of the diluted earnings per share computation 8,575,180 19,183,231 19,163,520 |
Note 18 - Quarterly Financial D
Note 18 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 18. Selected summarized quarterly financial information for each of the last three Year Ended December 31, 2021 First Second Third Fourth Revenue $ 506 $ 112 $ 200 $ 74 Operating expenses $ 16,017 $ 15,887 $ 17,451 $ 24,289 Net loss $ (16,007 ) $ (16,116 ) $ (17,583 ) $ (20,764 ) Net loss per share – basic and diluted $ (0.14 ) $ (0.13 ) $ (0.14 ) $ (0.17 ) Year Ended December 31, 2020 First Second Third Fourth Revenue $ 2,902 $ 523 $ 265 $ 356 Operating expenses $ 3,596 $ 9,049 $ 7,854 $ 13,717 Net loss $ (1,297 ) $ (8,977 ) $ (8,085 ) $ (13,861 ) Net loss per share – basic and diluted $ (0.02 ) $ (0.12 ) $ (0.08 ) $ (0.13 ) Year Ended December 31, 2019 First Second Third Fourth Revenue $ 5,407 $ 85 $ 454 $ 3,916 Operating expenses $ 5,855 $ 5,082 $ 5,168 $ 9,542 Net loss $ (1,339 ) $ (5,637 ) $ (5,260 ) $ (6,409 ) Net loss per share – basic and diluted $ (0.18 ) $ (0.39 ) $ (0.32 ) $ (0.13 ) |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 19. Since December 31, 2021, September 2021 1 Changes in the status of litigation since December 31, 2021, 10. Litigation |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation |
Consolidation, Policy [Policy Text Block] | Basis of Consolidation |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currencies no |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents three may |
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 |
Receivable [Policy Text Block] | Accounts Receivable 2019, 6 no December 31, 2021 2020 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment The useful lives of the property and equipment are as follows: Laboratory equipment (in years) 5 Office and computer equipment (in years) 3 Leasehold improvements Shorter of remaining lease term or estimated useful life |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Intangible Assets not |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets fourth may not December 31, 2019 ( 14 December 31, 2021 ( 5 |
Accrued Clinical And Manufacturing Expenses Policy [Policy Text Block] | Accrued Clinical and Manufacturing Expenses third not The Company estimates the amount of services provided through discussions with internal personnel and external service providers as to the progress or stage of completion of the services and the agreed-upon fee to be paid for such services. The Company makes significant judgments and estimates in determining the accrued balance in each reporting period. As actual costs become known, it adjusts its accrued estimates. Although the Company does not may third not |
Lessee, Leases [Policy Text Block] | Leases one not not |
Revenue [Policy Text Block] | Revenue Recognition five (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account. Revenue from royalties earned as a percentage of sales, including milestone payments based on achieving a specified level of sales, where a license is deemed to be the predominant item to which the royalties relate, is recognized as revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied), as required under the sales- and usage-based royalty exception. Revenue from contracts with customers is recognized ratably, based on costs incurred, as the Company provides promised services to its customers in amounts that reflect the consideration that the Company expects to receive for those services. The Company performed research and development work under its cost-plus-fixed-fee contract with HHS BARDA. The Company recognizes revenue under research contracts only when a contract has been executed and the contract price is fixed or determinable. Revenue from the HHS BARDA contract is recognized in the period during which the related costs are incurred and the related services are rendered, provided that the applicable conditions under the contract have been met. Costs of contract revenue are recorded as a component of operating expenses in the consolidated statements of operations and comprehensive loss. Under cost reimbursable contracts, the Company recognizes revenue as allowable costs are incurred and the fixed fee is earned. Reimbursable costs under the contract primarily include direct labor, subcontract costs, materials, equipment, travel, and approved overhead and indirect costs. Fixed fees under cost reimbursable contracts are earned in proportion to the allowable costs incurred in performance of the work relative to total estimated contract costs, with such costs incurred representing a reasonable measurement of the proportional performance of the work completed. Payments to the Company under cost reimbursable contracts, such as this contract, are provisional payments subject to adjustment upon annual audit by the government. Management believes that revenue for periods not may |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Costs third |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation |
Earnings Per Share, Policy [Policy Text Block] | Net Income (Loss) Per Share Diluted net income (loss) per common share is computed giving effect to all potential dilutive common shares, comprising common stock issuable upon exercise of stock options and warrants. The Company uses the treasury-stock method to compute diluted income (loss) per share with respect to its stock options and warrants. For purposes of this calculation, options and warrants to purchase common stock are considered to be potential common shares and are only included in the calculation of diluted net income per share when their effect is dilutive. In the event of a net loss, the effects of all potentially dilutive shares are excluded from the diluted net loss per share calculation as their inclusion would be antidilutive. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassification Prior year data is subject to reclassification to conform to current year presentation. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In August 2020, 2020 06, Debt - Debt with Conversion and Other Options (Subtopic 470 20 815 40 none January 1, 2021. Recent Accounting Pronouncements The Company has reviewed all significant newly-issued accounting pronouncements that are not not not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Property, Plant, and Equipment, Useful Life [Table Text Block] | Laboratory equipment (in years) 5 Office and computer equipment (in years) 3 Leasehold improvements Shorter of remaining lease term or estimated useful life |
Note 3 - Business Combination (
Note 3 - Business Combination (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Property and equipment $ 321 Goodwill 4,508 Total purchase price $ 4,829 |
Note 4 - Fair Value of Financ_2
Note 4 - Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Level 1 Level 2 Level 3 Total December 31, 2021 Recurring financial assets: Money market funds $ 70,978 $ — $ — $ 70,978 U.S. Treasury securities — 24,997 — 24,997 Commercial paper — 7,491 — 7,491 Corporate debt securities — 6,464 — 6,464 Total assets $ 70,978 $ 38,952 $ — $ 109,930 Level 1 Level 2 Level 3 Total December 31, 2020 Recurring financial assets: Money market funds $ 60,005 $ — $ — $ 60,005 Total assets $ 60,005 $ — $ — $ 60,005 |
Note 5 - Balance Sheet Compon_2
Note 5 - Balance Sheet Components (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2021 Cash at banks $ 72,767 $ — $ — $ 72,767 $ 72,767 $ — $ — Money market funds 70,978 — — 70,978 70,978 — — U.S. Treasury securities 25,055 — (58 ) 24,997 — 12,022 12,975 Commercial paper 7,491 — — 7,491 — 7,491 — Corporate debt securities 6,480 — (16 ) 6,464 — 3,229 3,235 Total $ 182,771 $ — $ (74 ) $ 182,697 $ 143,745 $ 22,742 $ 16,210 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] | December 31, 2021 December 31, 2020 Laboratory equipment $ 5,057 $ 1,759 Office and computer equipment 481 294 Leasehold improvements 1,063 — Construction in progress 1,305 — Total property and equipment 7,906 2,053 Less: accumulated depreciation (1,305 ) (573 ) Property and equipment, net $ 6,601 $ 1,480 |
Lessee, Operating Lease, Right-of-Use Assets [Table Text Block] | December 31, 2021 December 31, 2020 Facilities $ 13,168 $ 6,836 Office equipment — 2 Right-of-use assets, net $ 13,168 $ 6,838 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2021 December 31, 2020 Developed technology $ 10,600 $ 20,300 Intellectual property 80 80 Total cost 10,680 20,380 Less: accumulated amortization (56 ) (5,019 ) Intangible assets, net $ 10,624 $ 15,361 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year Ending December 31, Amount 2022 $ 1,350 2023 1,350 2024 1,350 2025 1,350 2026 1,350 Thereafter 3,874 Total $ 10,624 |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2021 December 31, 2020 Accrued compensation $ 2,786 $ 1,618 Accrued clinical and manufacturing expenses 986 1,772 Accrued professional and consulting services 556 777 Other liabilities, current portion 736 632 Total $ 5,064 $ 4,799 |
Note 7 - Liabilities Related _2
Note 7 - Liabilities Related to Sale of Future Royalties (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | Total liability related to sale of future royalties, start of year $ 14,929 Non-cash royalty revenue paid to HCRP (1,098 ) Non-cash interest expense recognized 1,480 Revaluation gain recognized (3,789 ) Total liability related to sale of future royalties, end of year 11,522 Current portion (836 ) Long-term portion $ 10,686 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ending December 31, Amount 2022 $ 2,071 2023 2,123 2024 2,195 2025 2,297 2026 2,852 Thereafter 6,770 Undiscounted total 18,308 Less: imputed interest (5,300 ) Present value of future minimum payments 13,008 Current portion of operating lease liability (1,011 ) Operating lease liability, net of current portion $ 11,997 |
Lease, Cost [Table Text Block] | Year Ended December 31, 2021 2020 2019 Lease cost Operating lease cost $ 2,513 $ 1,145 $ 959 Short-term lease cost 340 13 15 Variable lease cost 1,233 264 162 Sublease income (36 ) (217 ) (217 ) Total lease cost $ 4,050 $ 1,205 $ 919 |
Note 11 - Stockholders' Equity
Note 11 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Common Stock Reserved for Issuance [Table Text Block] | December 31, 2021 December 31, 2020 Options issued and outstanding 10,216,106 6,813,033 Available for future grants of equity awards 5,582,742 1,230,863 Common stock warrants 232,434 1,244,974 Total 16,031,282 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 |
Fair Value of Warrants, Assumptions [Table Text Block] | Offering March 2019 April 2019 September 2019 March 2020 Aggregate valuation on issuance date $ 100,000 $ 333,000 $ 497,000 $ 453,000 Number of warrants issued 84,000 636,364 2,115,738 280,000 Exercise price $ 3.125 $ 1.375 $ 0.375 $ 3.125 Closing stock price $ 2.08 $ 0.89 $ 0.36 $ 2.34 Risk-free interest rate 2.34 % 2.31 % 1.55 % 0.88 % Expected term (in years) 5.00 5.00 5.00 4.99 Expected volatility 80 % 83 % 83 % 98 % Dividend yield — % — % — % — % |
Note 12 - Equity Incentive Pl_2
Note 12 - Equity Incentive Plans (Tables) | 12 Months Ended |
Dec. 31, 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, 2019 200,650 865,163 $ 8.13 Authorized under 2019 Plan on Adoption 1,600,000 — $ — Removed from 2016 Plan (223,389 ) — $ — Granted (1,791,030 ) 1,791,030 $ 0.67 Forfeited 483,849 (592,528 ) $ 1.57 Canceled 25,100 (252,013 ) $ 9.25 Balance at December 31, 2019 295,180 1,811,652 $ 2.74 Authorized under 2019 Plan Amendment 6,400,000 — $ — Granted (5,579,800 ) 5,579,800 $ 2.66 Exercised — (414,676 ) $ 1.45 Forfeited 105,910 (105,992 ) $ 1.65 Canceled 9,573 (57,751 ) $ 10.57 Balance at December 31, 2020 1,230,863 6,813,033 $ 2.70 Authorized under 2019 Plan Amendment 8,900,000 — $ — Granted (5,178,438 ) 5,178,438 $ 7.09 Exercised — (1,070,921 ) $ 1.63 Forfeited 630,317 (650,054 ) $ 3.16 Canceled — (54,390 ) $ 11.98 Balance at December 31, 2021 5,582,742 10,216,106 $ 4.96 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2021 2020 2019 Risk-free interest rate 0.91% - 1.35% 0.40% - 0.88% 1.68% - 2.31% Expected term (in years) 5.44 - 6.08 5.22 - 10.00 5.39 - 10.00 Expected volatility 122% - 131% 94% - 111% 83% - 85% Dividend yield — % — % — % |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year Ended December 31, 2021 2020 2019 Research and development $ 4,304 $ 1,563 $ 253 General and administrative 4,563 2,795 374 Total stock-based compensation $ 8,867 $ 4,358 $ 627 |
Note 14 - Restructuring Charg_2
Note 14 - Restructuring Charges (Reversals) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | Suspension Severance Impairment of Contract Benefits Charges Other Total Cumulative cost incurred as of December 31, 2021 $ 2,252 $ 368 $ 1,272 $ 179 $ 4,071 Reconciliation of liabilities: Balance at January 1, 2019 $ — $ — $ — $ — $ — Period charges 3,223 368 1,272 57 4,920 Settlements — — (1,272 ) — (1,272 ) Balance at December 31, 2019 3,223 368 — 57 3,648 Period charges — — — 122 122 Period reversals (971 ) — — — (971 ) Settlements (2,252 ) (368 ) — (179 ) (2,799 ) Balance at December 31, 2020 $ — $ — $ — $ — $ — |
Note 16 - Income Taxes (Tables)
Note 16 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 2021 2020 2019 Current: Federal $ — $ — $ — State 1 3 2 Foreign 106 235 488 Total Current 107 238 490 Deferred: Federal — — — State — — — Foreign — — — Total Deferred — — — Provision for income taxes $ 107 $ 238 $ 490 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2021 December 31, 2020 December 31, 2019 Deferred tax assets: Net operating loss carryforwards $ 30,256 $ 14,161 $ 6,924 Research and development tax credits 4,923 2,497 1,591 Capitalized research and development 4,016 4,534 4,773 Sale of future royalties 5,826 7,178 7,486 Lease liability 3,184 1,695 492 Accruals, reserves and other 3,043 1,327 1,253 Total deferred tax assets 51,248 31,392 22,519 Valuation allowance (42,589 ) (21,952 ) (13,365 ) Deferred tax assets net of valuation allowance 8,659 9,440 9,154 Deferred tax liabilities: Intangible assets (5,410 ) (7,832 ) (8,730 ) Right-of-use assets (3,223 ) (1,608 ) (424 ) Depreciation on property and equipment (26 ) — — Total deferred tax liabilities (8,659 ) (9,440 ) (9,154 ) Net deferred tax assets $ — $ — $ — |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2021 2020 2019 U.S. federal taxes at statutory rate 21.0 % 21.0 % 21.0 % State taxes (net of federal benefit) 4.0 2.9 0.4 Foreign rate differential 0.3 (0.7 ) (2.6 ) Permanently non-deductible items 0.2 2.2 (3.7 ) Tax credits 3.4 2.8 1.7 Change in valuation allowance (29.3 ) (26.8 ) 194.2 Tax attributes write-off due to change in control — 0.5 (208.3 ) Prior year true-up 0.6 (2.5 ) (0.9 ) Other (0.3 ) (0.1 ) (4.5 ) Provision for income taxes (0.1 )% (0.7 )% (2.7 )% |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Year Ended December 31, 2021 2020 2019 Beginning Balance $ 1,281 $ 851 $ 1,582 Additions based on tax positions related to the current year 1,132 431 159 Increase (decreases) related to prior years’ tax positions 9 (1 ) (890 ) Ending Balance $ 2,422 $ 1,281 $ 851 |
Note 17 - Net Loss Per Share _2
Note 17 - Net Loss Per Share Attributable to Common Stockholders (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2021 2020 2019 Net loss $ (70,470 ) $ (32,220 ) $ (18,645 ) Shares used to compute net loss per share, basic and diluted 121,453,723 88,295,762 21,569,523 Net loss per share attributable to common stockholders, basic and diluted $ (0.58 ) $ (0.36 ) $ (0.86 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Year Ended December 31, 2021 2020 2019 Options to purchase common stock 8,206,137 4,409,806 1,583,575 Warrants to purchase common stock 369,043 14,773,425 17,579,945 Total potentially dilutive securities excluded from denominator of the diluted earnings per share computation 8,575,180 19,183,231 19,163,520 |
Note 18 - Quarterly Financial_2
Note 18 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Year Ended December 31, 2021 First Second Third Fourth Revenue $ 506 $ 112 $ 200 $ 74 Operating expenses $ 16,017 $ 15,887 $ 17,451 $ 24,289 Net loss $ (16,007 ) $ (16,116 ) $ (17,583 ) $ (20,764 ) Net loss per share – basic and diluted $ (0.14 ) $ (0.13 ) $ (0.14 ) $ (0.17 ) Year Ended December 31, 2020 First Second Third Fourth Revenue $ 2,902 $ 523 $ 265 $ 356 Operating expenses $ 3,596 $ 9,049 $ 7,854 $ 13,717 Net loss $ (1,297 ) $ (8,977 ) $ (8,085 ) $ (13,861 ) Net loss per share – basic and diluted $ (0.02 ) $ (0.12 ) $ (0.08 ) $ (0.13 ) Year Ended December 31, 2019 First Second Third Fourth Revenue $ 5,407 $ 85 $ 454 $ 3,916 Operating expenses $ 5,855 $ 5,082 $ 5,168 $ 9,542 Net loss $ (1,339 ) $ (5,637 ) $ (5,260 ) $ (6,409 ) Net loss per share – basic and diluted $ (0.18 ) $ (0.39 ) $ (0.32 ) $ (0.13 ) |
Note 1 - Organization and Bas_2
Note 1 - Organization and Basis of Presentation (Details Textual) - USD ($) | Sep. 15, 2021 | Oct. 13, 2020 | Jul. 13, 2020 | Mar. 02, 2020 | Sep. 30, 2019 | Apr. 11, 2019 | Mar. 20, 2019 | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2021 | Dec. 03, 2021 | Dec. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2021 | Jun. 08, 2020 | Jun. 07, 2020 |
Stock Issued During Period, Shares, New Issues (in shares) | 1,200,000 | |||||||||||||||||||
Gross Proceeds from Issuance of Common Stock | $ 3,000,000 | |||||||||||||||||||
Proceeds from Issuance of Common Stock | 2,500,000 | $ 0 | $ 9,175,000 | $ 2,540,000 | ||||||||||||||||
Payments of Stock Issuance Costs | $ 320,000 | |||||||||||||||||||
Proceeds from Warrant Exercises | 1,849,000 | 25,951,000 | 180,000 | |||||||||||||||||
Payments for Aggregate Commissions to Underwriters | $ 750,000 | |||||||||||||||||||
Proceeds From Exercise of Pre-funded Warrants | $ 0 | $ 0 | 1,226,000 | |||||||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.10 | ||||||||||
Common Stock, Shares Authorized (in shares) | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 | 100,000,000 | ||||||||||
Stock Issued During Period, Value, New Issues | 2,440,000 | |||||||||||||||||||
The April 2019 Offering [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues, Excluding Shares Sold to Underwriters (in shares) | 925,455 | |||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.10 | |||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 9,300,000 | |||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 8,100,000 | |||||||||||||||||||
The September 2019 Offering [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues, Excluding Shares Sold to Underwriters (in shares) | 26,124,828 | |||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.30 | |||||||||||||||||||
Pre-funded Warrant Price (in dollars per share) | 0.20 | |||||||||||||||||||
Pre-funded Warrant, Accompanying Warrant, Amount Paid Per Share (in dollars per share) | $ 0.10 | |||||||||||||||||||
Payments for Aggregate Commissions to Underwriters | $ 713,000 | |||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | 8,700,000 | |||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 7,700,000 | |||||||||||||||||||
The March 2020 Offering [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 4,000,000 | |||||||||||||||||||
Payments of Stock Issuance Costs | $ 775,000 | |||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | 10,000,000 | |||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 9,200,000 | |||||||||||||||||||
ATM Program [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 12,503,806 | |||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 97,000,000 | $ 122,210,000 | $ 101,934,000 | $ 0 | ||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 100,000,000 | |||||||||||||||||||
Open Market Sale Agreement [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 692,651 | |||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 4,900,000 | |||||||||||||||||||
Payments of Stock Issuance Costs | $ 300,000 | |||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 5,500,000 | |||||||||||||||||||
Open Market Sale Agreement, Maximum Aggregate Offering Price | $ 250,000,000 | |||||||||||||||||||
Open Market Sale Agreement, Sales Commission, Percentage | 4.50% | |||||||||||||||||||
The October 2020 Offering [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 13,239,839 | 13,932,490 | ||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 127,900,000 | $ 133,400,000 | ||||||||||||||||||
Proceeds from Issuance of Common Stock, Net | $ 122,200,000 | $ 127,100,000 | ||||||||||||||||||
The September 2021 ATM [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 0 | |||||||||||||||||||
Payments of Stock Issuance Costs | $ 200,000 | |||||||||||||||||||
Open Market Sale Agreement, Maximum Aggregate Offering Price | $ 100,000,000 | |||||||||||||||||||
Open Market Sale Agreement, Sales Commission, Percentage | 3.00% | |||||||||||||||||||
Warrants in Connection with March 2019 Offering [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 84,000 | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.125 | |||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||||||||||
Warrants and Rights Outstanding | $ 100,000 | |||||||||||||||||||
Common Stock Warrants [Member] | ||||||||||||||||||||
Proceeds from Warrant Exercises | $ 200,000 | |||||||||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 67,825 | 10,410,398 | ||||||||||||||||||
Proceeds from Exercise of Common Stock Warrants | $ 11,500,000 | |||||||||||||||||||
Warrants in Connection With the April 2019 Offering [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 10,454,546 | |||||||||||||||||||
Warrants and Rights Outstanding | $ 333,000 | |||||||||||||||||||
Class of Warrant Right, Number of Pre-funded Warrants Issued During Period (in shares) | 8,165,455 | |||||||||||||||||||
Pre-funded Warrant Price (in dollars per share) | $ 1 | |||||||||||||||||||
Pre-funded Warrant, Accompanying Warrant, Amount Paid Per Share (in dollars per share) | $ 0.10 | |||||||||||||||||||
Warrants in Connection With the April 2019 Offering [Member] | Over-Allotment Option [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,363,636 | |||||||||||||||||||
Pre-funded Warrants [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | 1 | ||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.10 | $ 0.10 | ||||||||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 4,100,000 | 8,165,455 | ||||||||||||||||||
Class of Warrant Right, Number of Pre-funded Warrants Issued During Period (in shares) | 4,100,000 | |||||||||||||||||||
Proceeds From Exercise of Pre-funded Warrants | $ 400,000 | $ 800,000 | ||||||||||||||||||
Common Warrants [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | 1 | ||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.30 | $ 1.10 | ||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | 5 years | ||||||||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 30,661,667 | |||||||||||||||||||
Proceeds from Exercise of Common Stock Warrants | $ 9,200,000 | |||||||||||||||||||
Underwriter Warrants [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.375 | |||||||||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 609,849 | |||||||||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 636,364 | |||||||||||||||||||
Class of Warrant or Right, Period to Expiration (Year) | 5 years | |||||||||||||||||||
Class of Warrant or Right, Issued During Period, Fair Value | $ 333,000 | |||||||||||||||||||
Proceeds from Exercise of Common Stock Warrants | $ 800,000 | |||||||||||||||||||
Warrants in Connection with the September 2019 Offering [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 30,666,667 | |||||||||||||||||||
Warrants and Rights Outstanding | $ 497,000 | |||||||||||||||||||
Warrants in Connection with the September 2019 Offering [Member] | Over-Allotment Option [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 4,000,000 | |||||||||||||||||||
Underwriter Warrants, September 2019 [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.375 | |||||||||||||||||||
Warrants and Rights Outstanding | $ 497,000 | |||||||||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 2,115,738 | |||||||||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 2,115,738 | |||||||||||||||||||
Class of Warrant or Right, Period to Expiration (Year) | 5 years | |||||||||||||||||||
Proceeds from Exercise of Common Stock Warrants | $ 800,000 | |||||||||||||||||||
The March 2020 Offering Warrants [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,000,000 | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.50 | |||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||||||||||
Warrants and Rights Outstanding | $ 453,000 | |||||||||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 1,970,850 | |||||||||||||||||||
Proceeds from Exercise of Common Stock Warrants | $ 4,900,000 | |||||||||||||||||||
The March 2020 Offering Placement Agent Warrants [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.125 | |||||||||||||||||||
Warrants and Rights Outstanding | $ 453,000 | |||||||||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 179,468 | |||||||||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 280,000 | |||||||||||||||||||
Proceeds from Exercise of Common Stock Warrants | $ 600,000 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 0 | $ 0 |
Developed Technology Rights [Member] | Minimum [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 1 year 3 months 18 days | |
Developed Technology Rights [Member] | Maximum [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 11 years 9 months | |
Intellectual Property [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Estimated Useful Lives (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Laboratory Equipment [Member] | |
Laboratory equipment (in years) (Year) | 5 years |
Office Equipment [Member] | |
Laboratory equipment (in years) (Year) | 3 years |
Leasehold Improvements [Member] | |
Leasehold improvements | Shorter of remaining lease term or estimated useful life |
Note 3 - Business Combination_2
Note 3 - Business Combination (Details Textual) | Nov. 30, 2021USD ($) |
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | $ 82,000 |
Prepaid Rent | 671,000 |
Acquisition of Kindred BioSciences [Member] | |
Business Combination, Consideration Transferred, Total | $ 4,829,000 |
Note 3 - Business Combination -
Note 3 - Business Combination - Allocation of the Purchase Price to the Fair Value of the Respective Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands | Nov. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 |
Business combination, goodwill acquired | $ 4,508 | $ 0 | |
Acquisition of Kindred BioSciences [Member] | |||
Business combination, property and equipment acquired | $ 321 | ||
Business combination, goodwill acquired | 4,508 | ||
Business Combination, Consideration Transferred, Total | $ 4,829 |
Note 4 - Fair Value of Financ_3
Note 4 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value, Recurring [Member] | |||
Financial Liabilities Fair Value Disclosure, Total | $ 0 | $ 0 | $ 0 |
Note 4 - Fair Value of Financ_4
Note 4 - Fair Value of Financial Instruments - Financial Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Money Market Funds [Member] | ||
Money market funds, Fair Value | $ 70,978 | $ 60,005 |
Fair Value, Recurring [Member] | ||
Total assets | 109,930 | |
Fair Value, Recurring [Member] | Short-term Investments [Member] | US Treasury Securities [Member] | ||
Investments, Fair Value Disclosure | 24,997 | |
Fair Value, Recurring [Member] | Short-term Investments [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Investments, Fair Value Disclosure | 7,491 | |
Fair Value, Recurring [Member] | Long-term Investments [Member] | Corporate Debt Securities [Member] | ||
Investments, Fair Value Disclosure | 6,464 | |
Fair Value, Recurring [Member] | Money Market Funds [Member] | ||
Money market funds, Fair Value | 70,978 | 60,005 |
Total assets | 60,005 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total assets | 70,978 | |
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 | 70,978 | 60,005 |
Total assets | 60,005 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total assets | 38,952 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Short-term Investments [Member] | US Treasury Securities [Member] | ||
Investments, Fair Value Disclosure | 24,997 | |
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 | 7,491 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Long-term Investments [Member] | Corporate Debt Securities [Member] | ||
Investments, Fair Value Disclosure | 6,464 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||
Money market funds, Fair Value | 0 | 0 |
Total assets | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total assets | 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 |
Total assets | $ 0 |
Note 5 - Balance Sheet Compon_3
Note 5 - Balance Sheet Components (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable, after Allowance for Credit Loss, Current, Total | $ 71,000 | $ 334,000 | |
Depreciation, Total | 732,000 | 114,000 | $ 504,000 |
Amortization of Intangible Assets, Total | 1,700,000 | 1,700,000 | 2,300,000 |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 3,005,000 | 0 | 0 |
Developed Technology Rights [Member] | |||
Finite-Lived Intangible Asset, Remaining Life (Year) | 7 years 10 months 24 days | ||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 3,000,000 | ||
Intellectual Property [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years | ||
Finite-Lived Intangible Asset, Remaining Life (Year) | 6 years | ||
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 | ||
Restructuring Charges [Member] | |||
Impairment of Right-of-use Asset | 120,000 | ||
Restructuring Charges [Member] | CALIFORNIA | |||
Asset Impairment Charges, Total | $ 1,152,000 | ||
Royalty [Member] | |||
Accounts Receivable, after Allowance for Credit Loss, Current, Total | $ 71,000 | $ 334,000 |
Note 5 - Balance Sheet Compon_4
Note 5 - Balance Sheet Components - Cash and Cash Equivalents and Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and cash equivalents | $ 143,745 | $ 126,870 | $ 13,526 | $ 11,506 |
Gross Unrealized Loss | (74) | 0 | ||
Short-term investments | 22,742 | 0 | ||
Long-term investments | 16,210 | 0 | ||
Investments and Cash | 182,771 | 126,870 | ||
Investments and Cash, Fair Value Disclosure | 182,697 | 126,870 | ||
US Treasury Securities [Member] | ||||
Amortized Cost | 25,055 | |||
Gross Unrealized Loss | (58) | |||
Estimated Fair Value | 24,997 | |||
Short-term investments | 12,022 | |||
Long-term investments | 12,975 | |||
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||||
Amortized Cost | 7,491 | |||
Estimated Fair Value | 7,491 | |||
Short-term investments | 7,491 | |||
Corporate Debt Securities [Member] | ||||
Amortized Cost | 6,480 | |||
Gross Unrealized Loss | (16) | |||
Estimated Fair Value | 6,464 | |||
Short-term investments | 3,229 | |||
Long-term investments | 3,235 | |||
Cash [Member] | ||||
Cash and Cash Equivalents, at Carrying Value | 72,767 | 66,865 | ||
Money market funds, Fair Value | 72,767 | 66,865 | ||
Cash and cash equivalents | 72,767 | 66,865 | ||
Money Market Funds [Member] | ||||
Cash and Cash Equivalents, at Carrying Value | 70,978 | 60,005 | ||
Money market funds, Fair Value | 70,978 | 60,005 | ||
Cash and cash equivalents | $ 70,978 | $ 60,005 |
Note 5 - Balance Sheet Compon_5
Note 5 - Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Property and equipment, gross | $ 7,906 | $ 2,053 |
Less: accumulated depreciation | (1,305) | (573) |
Property and equipment, net | 6,601 | 1,480 |
Laboratory Equipment [Member] | ||
Property and equipment, gross | 5,057 | 1,759 |
Office Equipment [Member] | ||
Property and equipment, gross | 481 | 294 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 1,063 | 0 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 1,305 | $ 0 |
Note 5 - Balance Sheet Compon_6
Note 5 - Balance Sheet Components - Right-of-use Assets, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Right-of-use assets, net | $ 13,168 | $ 6,838 |
Facilities [Member] | ||
Right-of-use assets, net | 13,168 | 6,836 |
Office Equipment [Member] | ||
Right-of-use assets, net | $ 0 | $ 2 |
Note 5 - Balance Sheet Compon_7
Note 5 - Balance Sheet Components - Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Intangible assets, gross | $ 10,680 | $ 20,380 |
Less: accumulated amortization | (56) | (5,019) |
Intangible assets, net | 10,624 | 15,361 |
Developed Technology Rights [Member] | ||
Intangible assets, gross | 10,600 | 20,300 |
Intellectual Property [Member] | ||
Intangible assets, gross | $ 80 | $ 80 |
Note 5 - Balance Sheet Compon_8
Note 5 - Balance Sheet Components - Estimated Future Amortization Expense (Details) $ in Thousands | Dec. 31, 2021USD ($) |
2022 | $ 1,350 |
2023 | 1,350 |
2024 | 1,350 |
2025 | 1,350 |
2026 | 1,350 |
Thereafter | 3,874 |
Total | $ 10,624 |
Note 5 - Balance Sheet Compon_9
Note 5 - Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accrued compensation | $ 2,786 | $ 1,618 |
Accrued clinical and manufacturing expenses | 986 | 1,772 |
Accrued professional and consulting services | 556 | 777 |
Other liabilities, current portion | 736 | 632 |
Total | $ 5,064 | $ 4,799 |
Note 6 - Revenue (Details Textu
Note 6 - Revenue (Details Textual) - USD ($) | Jun. 28, 2018 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2015 |
Contract with Customer, Asset, after Allowance for Credit Loss, Current, Total | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||||||
Contract With Customer, Asset, Revenue Recognized | 0 | 219,000 | 0 | 219,000 | |||||||||||||
Contract with Customer, Liability, Total | 0 | 0 | 0 | 0 | |||||||||||||
Revenue, Remaining Performance Obligation, Amount | 0 | 13,000 | 0 | 13,000 | |||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 74,000 | $ 200,000 | $ 112,000 | $ 506,000 | $ 356,000 | $ 265,000 | $ 523,000 | $ 2,902,000 | $ 3,916,000 | $ 454,000 | $ 85,000 | $ 5,407,000 | 892,000 | 4,046,000 | $ 9,862,000 | ||
Income Tax Expense (Benefit), Total | $ 107,000 | 238,000 | 490,000 | ||||||||||||||
Foreign Tax Authority [Member] | National Tax Agency, Japan [Member] | |||||||||||||||||
Royalty Withholding Tax | 5.00% | ||||||||||||||||
Income Tax Expense (Benefit), Total | $ 44,000 | 183,000 | 435,000 | ||||||||||||||
Government Contract [Member] | |||||||||||||||||
Contract Value | $ 15,700,000 | $ 14,000,000 | |||||||||||||||
Contract Value, Adjustment | $ 1,700,000 | ||||||||||||||||
Contract with Customer, Asset, Credit Loss Expense (Reversal) | 20,000 | ||||||||||||||||
Contract with Customer, Asset, Allowance for Credit Loss, Writeoff | 20,000 | ||||||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | (20,000) | ||||||||||||||
Royalty [Member] | |||||||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 2,962,000 | 4,446,000 | ||||||||||||||
Royalty [Member] | GSK Research and License Agreement [Member] | |||||||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 193,000 | 778,000 | ||||||||||||||
Royalty [Member] | Daiichi Sankyo Collaberation and License Agreement [Member] | |||||||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 0 | 2,769,000 | 3,668,000 | ||||||||||||||
Royalty Percentage | 4.00% | ||||||||||||||||
Non Cash Royalty Revenue [Member] | |||||||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 879,000 | 886,000 | 5,030,000 | ||||||||||||||
Non Cash Royalty Revenue [Member] | Daiichi Sankyo Collaberation and License Agreement [Member] | |||||||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 879,000 | $ 886,000 | $ 5,030,000 |
Note 7 - Liabilities Related _3
Note 7 - Liabilities Related to Sale of Future Royalties (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended |
Apr. 30, 2016 | Dec. 31, 2021 | |
Re-valuation Gain Recognized | $ 3.8 | |
HCRP [Member] | ||
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 7 - Liabilities Related _4
Note 7 - Liabilities Related to Sale of Future Royalties - Deferred Revenue Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revaluation gain recognized | $ (3,800) | |
Current portion | (836) | $ (2,779) |
Long-term portion | 10,686 | $ 12,150 |
HealthCare Royalty Partners III, L.P. [Member] | Royalty Arrangement [Member] | ||
Total liability related to sale of future royalties, start of year | 14,929 | |
Non-cash royalty revenue paid to HCRP | (1,098) | |
Non-cash interest expense recognized | 1,480 | |
Revaluation gain recognized | (3,789) | |
Total liability related to sale of future royalties, end of year | 11,522 | |
Current portion | (836) | |
Long-term portion | $ 10,686 |
Note 8 - Leases (Details Textua
Note 8 - Leases (Details Textual) | 12 Months Ended | ||||
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2021 | Jul. 31, 2019 | |
Operating Lease, Weighted Average Discount Rate, Percent | 9.27% | ||||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 6 years 11 months 4 days | ||||
Lessee, Finance Lease, Number of Leases | 0 | ||||
Operating Lease, Payments | $ 4,400,000 | $ 1,100,000 | $ 983,000 | ||
Right of Use for Office and Manufacturing Facilities with Initial Terms Exceeding One Year [Member] | |||||
Lessee, Operating Lease, Number of Right-of-Use Leases | 5 | ||||
Right of Use for Equipment with Initial Terms Exceeding One Year [Member] | |||||
Lessee, Operating Lease, Number of Right-of-Use Leases | 1 | ||||
Leases for Manufacturing Facilities with Initial Terms of One Year or Less [Member] | |||||
Lessee, Short-term Lease, Number of Leases | 3 | ||||
Lease Agreements for Manufacturing Equipment with Initial Terms of One Year or Less [Member] | |||||
Lessee, Short-term Lease, Number of Leases | 1 | ||||
South San Francisco Real Estate [Member] | |||||
Lessee, Operating Lease, Renewal Term (Year) | 8 years | 5 years | |||
Facility in South San Francisco [Member] | |||||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | ||||
Facility in Burlingame, California [Member] | |||||
Lessee, Operating Lease, Renewal Term (Year) | 30 months | ||||
Lessee, Operating Lease, Number of Renewal Option | 2 | ||||
Gain (Loss) on Termination of Lease | $ 116,000 | ||||
Facilities Under Operating Leases [Member] | |||||
Short-term Lease Commitment, Amount | 14,000 | ||||
Equipment Under Operating Leases [Member] | |||||
Short-term Lease Commitment, Amount | $ 8,000 |
Note 8 - Leases - Lease Liabili
Note 8 - Leases - Lease Liabilities Payment Obligations (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
2022 | $ 2,071 | |
2023 | 2,123 | |
2024 | 2,195 | |
2025 | 2,297 | |
2026 | 2,852 | |
Thereafter | 6,770 | |
Undiscounted total | 18,308 | |
Less: imputed interest | (5,300) | |
Present value of future minimum payments | 13,008 | |
Current portion of operating lease liability | (1,011) | $ (2,052) |
Operating lease liability, net of current portion | $ 11,997 | $ 5,156 |
Note 8 - Leases - Operating Lea
Note 8 - Leases - Operating Lease Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating lease cost | $ 2,513 | $ 1,145 | $ 959 |
Short-term lease cost | 340 | 13 | 15 |
Variable lease cost | 1,233 | 264 | 162 |
Sublease income | (36) | (217) | (217) |
Total lease cost | $ 4,050 | $ 1,205 | $ 919 |
Note 9 - Secured Promissory N_2
Note 9 - Secured Promissory Note Payable to Oxford Finance (Details Textual) - USD ($) | Nov. 04, 2019 | Dec. 22, 2016 | Dec. 31, 2019 | Feb. 13, 2018 |
Amortization of Debt Issuance Costs | $ 98,000 | |||
Legal Fees | $ 2,000 | |||
Warrants in Connection with Loan Agreement [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 7,563 | 10,914 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 33.11 | $ 22.99 | ||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 134,000 | |||
Loan Agreement [Member] | Oxford Finance [Member] | ||||
Long-term Debt, Gross | $ 5,000,000 | |||
Debt Instrument, Term (Year) | 4 years | |||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | $ 325,000 | |||
Debt Instrument, Interest Rate, Effective Percentage | 10.50% | |||
Interest Expense, Debt, Total | $ 311,000 | |||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total | $ 223,000 | |||
Loan Agreement [Member] | Oxford Finance [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 6.17% |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Details Textual) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Purchase Obligation, Total | $ 11 |
Long-term Purchase Commitment, Period (Month) | 18 months |
Lessee, Operating Lease, Lease Not yet Commenced | $ 14.9 |
Note 11 - Stockholders' Equit_2
Note 11 - Stockholders' Equity (Details Textual) - USD ($) | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Mar. 02, 2020 | Sep. 30, 2019 | Apr. 11, 2019 | Mar. 20, 2019 | |
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 | |||||
Warrants in Connection with March 2019 Offering [Member] | ||||||
Warrants and Rights Outstanding | $ 100,000 | |||||
The March 2020 Offering Placement Agent Warrants [Member] | ||||||
Warrants and Rights Outstanding | $ 453,000 | |||||
Warrants in Connection With the April 2019 Offering [Member] | ||||||
Warrants and Rights Outstanding | $ 333,000 | |||||
Underwriter Warrants, September 2019 [Member] | ||||||
Warrants and Rights Outstanding | $ 497,000 | |||||
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 11 - Stockholders' Equit_3
Note 11 - Stockholders' Equity - Shares of Common Stock Reserved for Issuance (Details) - shares | Dec. 31, 2021 | Dec. 31, 2020 |
Common stock reserved for issuance (in shares) | 16,031,282 | 9,288,870 |
Options Issued and Outstanding [Member] | ||
Common stock reserved for issuance (in shares) | 10,216,106 | 6,813,033 |
Options Available for Future Grants [Member] | ||
Common stock reserved for issuance (in shares) | 5,582,742 | 1,230,863 |
Common Warrants [Member] | ||
Common stock reserved for issuance (in shares) | 232,434 | 1,244,974 |
Note 11 - Stockholders' Equit_4
Note 11 - Stockholders' Equity - Summary of Warrants Outstanding (Details) | Dec. 31, 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 11 - Stockholders' Equit_5
Note 11 - Stockholders' Equity - Assumptions for Fair Value of Warrants (Details) | Mar. 02, 2020USD ($)shares | Sep. 30, 2019USD ($)shares | Apr. 11, 2019USD ($)shares | Mar. 20, 2019USD ($)shares |
Warrants in Connection with March 2019 Offering [Member] | ||||
Aggregate valuation on issuance date | $ | $ 100,000 | |||
Number of warrants issued (in shares) | shares | 84,000 | |||
Warrants in Connection with March 2019 Offering [Member] | Measurement Input, Exercise Price [Member] | ||||
Measurement Input | 3.125 | |||
Warrants in Connection with March 2019 Offering [Member] | Measurement Input, Share Price [Member] | ||||
Measurement Input | 2.08 | |||
Warrants in Connection with March 2019 Offering [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||
Measurement Input | 0.0234 | |||
Warrants in Connection with March 2019 Offering [Member] | Measurement Input, Expected Term [Member] | ||||
Measurement Input | 5 | |||
Warrants in Connection with March 2019 Offering [Member] | Measurement Input, Price Volatility [Member] | ||||
Measurement Input | 0.80 | |||
Warrants in Connection with March 2019 Offering [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||
Measurement Input | 0 | |||
Warrants in Connection With the April 2019 Offering [Member] | ||||
Aggregate valuation on issuance date | $ | $ 333,000 | |||
Number of warrants issued (in shares) | shares | 636,364 | |||
Warrants in Connection With the April 2019 Offering [Member] | Measurement Input, Exercise Price [Member] | ||||
Measurement Input | 1.375 | |||
Warrants in Connection With the April 2019 Offering [Member] | Measurement Input, Share Price [Member] | ||||
Measurement Input | 0.89 | |||
Warrants in Connection With the April 2019 Offering [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||
Measurement Input | 0.0231 | |||
Warrants in Connection With the April 2019 Offering [Member] | Measurement Input, Expected Term [Member] | ||||
Measurement Input | 5 | |||
Warrants in Connection With the April 2019 Offering [Member] | Measurement Input, Price Volatility [Member] | ||||
Measurement Input | 0.83 | |||
Warrants in Connection With the April 2019 Offering [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||
Measurement Input | 0 | |||
Warrants in Connection with the September 2019 Offering [Member] | ||||
Aggregate valuation on issuance date | $ | $ 497,000 | |||
Number of warrants issued (in shares) | shares | 2,115,738 | |||
Warrants in Connection with the September 2019 Offering [Member] | Measurement Input, Exercise Price [Member] | ||||
Measurement Input | 0.375 | |||
Warrants in Connection with the September 2019 Offering [Member] | Measurement Input, Share Price [Member] | ||||
Measurement Input | 0.36 | |||
Warrants in Connection with the September 2019 Offering [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||
Measurement Input | 0.0155 | |||
Warrants in Connection with the September 2019 Offering [Member] | Measurement Input, Expected Term [Member] | ||||
Measurement Input | 5 | |||
Warrants in Connection with the September 2019 Offering [Member] | Measurement Input, Price Volatility [Member] | ||||
Measurement Input | 0.83 | |||
Warrants in Connection with the September 2019 Offering [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||
Measurement Input | 0 | |||
Warrants in Connection with March 2020 Offering [Member] | ||||
Aggregate valuation on issuance date | $ | $ 453,000 | |||
Number of warrants issued (in shares) | shares | 280,000 | |||
Warrants in Connection with March 2020 Offering [Member] | Measurement Input, Exercise Price [Member] | ||||
Measurement Input | 3.125 | |||
Warrants in Connection with March 2020 Offering [Member] | Measurement Input, Share Price [Member] | ||||
Measurement Input | 2.34 | |||
Warrants in Connection with March 2020 Offering [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||
Measurement Input | 0.0088 | |||
Warrants in Connection with March 2020 Offering [Member] | Measurement Input, Expected Term [Member] | ||||
Measurement Input | 4.99 | |||
Warrants in Connection with March 2020 Offering [Member] | Measurement Input, Price Volatility [Member] | ||||
Measurement Input | 0.98 | |||
Warrants in Connection with March 2020 Offering [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||
Measurement Input | 0 |
Note 12 - Equity Incentive Pl_3
Note 12 - Equity Incentive Plans (Details Textual) - USD ($) | Jun. 16, 2021 | Jun. 15, 2021 | Jul. 24, 2020 | Jul. 20, 2020 | Jul. 09, 2020 | Jun. 15, 2020 | Apr. 23, 2019 | Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 08, 2020 | Dec. 31, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 10,216,106 | 6,813,033 | 1,811,652 | 865,163 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 4.96 | $ 2.70 | $ 2.74 | $ 8.13 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 8 years 8 months 1 day | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 18,700,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 9,577,757 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 4.85 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term (Year) | 8 years 7 months 13 days | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 18,400,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares) | 3,743,237 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 2.71 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Year) | 7 years 7 months 13 days | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 14,200,000 | ||||||||||||
Share Price (in dollars per share) | $ 6.27 | ||||||||||||
Proceeds from Stock Options Exercised | $ 1,745,000 | $ 602,000 | $ 0 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 1,070,921 | 414,676 | 0 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 6,200,000 | $ 2,200,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 5,178,438 | 5,579,800 | 1,791,030 | ||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 7.09 | $ 2.66 | $ 0.67 | ||||||||||
Share-based Payment Arrangement, Option [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 6.49 | $ 2.49 | $ 0.48 | ||||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 28,600,000 | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 25 days | ||||||||||||
Share-based Payment Arrangement, Option [Member] | Maximum [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 131.00% | 111.00% | 85.00% | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.35% | 0.88% | 2.31% | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 6 years 29 days | 10 years | 10 years | ||||||||||
Chief Executive Officer [Member] | Performance-based Options [Member] | |||||||||||||
Share Price (in dollars per share) | $ 2.46 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 900,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 105.00% | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.35% | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 5 years 2 months 23 days | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 0.31 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Fair Value | $ 279,000 | ||||||||||||
Chief Executive Officer [Member] | Performance-based Options [Member] | Share-based Payment Arrangement, Tranche One [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 1.00% | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Minimum Closing Price for Ten Consecutive Trading Days (in dollars per share) | $ 5 | $ 5 | |||||||||||
Chief Executive Officer [Member] | Performance-based Options [Member] | Share-based Payment Arrangement, Tranche Two [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 1.00% | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Minimum Closing Price for Ten Consecutive Trading Days (in dollars per share) | $ 7.50 | $ 7.50 | |||||||||||
Chief Executive Officer [Member] | Performance-based Options [Member] | Share-based Payment Arrangement, Tranche Three [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 1.00% | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Minimum Closing Price for Ten Consecutive Trading Days (in dollars per share) | $ 10 | $ 10 | |||||||||||
Chief Executive Officer [Member] | Performance-based Options and Time-based Options [Member] | |||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.46 | ||||||||||||
Former Chairman of the Board [Member] | Share-based Payment Arrangement, Option [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 3 months | ||||||||||||
Former Chairman of the Board [Member] | Share-based Payment Arrangement, Option [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 | ||||||||||||
Former Chairman of the Board [Member] | Stock Options with Accelerated Vesting [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 12 - Equity Incentive Pl_4
Note 12 - Equity Incentive Plans - Summary of Stock Option Transactions (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Shares available for grant, balance (in shares) | 1,230,863 | 295,180 | 200,650 |
Number of options outstanding, beginning balance (in shares) | 6,813,033 | 1,811,652 | 865,163 |
Weighted average exercise price, balance (in dollars per share) | $ 2.70 | $ 2.74 | $ 8.13 |
Shares availabe for grant, 2019 Plan Amendment (in shares) | 8,900,000 | 6,400,000 | 1,600,000 |
Shares available for grant, removed from 2016 Plan (in shares) | (223,389) | ||
Shares available for grant, granted (in shares) | (5,178,438) | (5,579,800) | (1,791,030) |
Number of options outstanding, granted (in shares) | 5,178,438 | 5,579,800 | 1,791,030 |
Weighted average exercise price, granted (in dollars per share) | $ 7.09 | $ 2.66 | $ 0.67 |
Shares available for grant, forfeited (in shares) | 630,317 | 105,910 | 483,849 |
Number of options outstanding, forfeited (in shares) | (650,054) | (105,992) | (592,528) |
Weighted average exercise price, forfeited (in dollars per share) | $ 3.16 | $ 1.65 | $ 1.57 |
Shares available for grant, canceled (in shares) | 0 | 9,573 | 25,100 |
Number of options outstanding, canceled (in shares) | (54,390) | (57,751) | (252,013) |
Weighted average exercise price, canceled (in dollars per share) | $ 11.98 | $ 10.57 | $ 9.25 |
Number of options outstanding, exercised (in shares) | (1,070,921) | (414,676) | 0 |
Weighted average exercise price, exercised (in dollars per share) | $ 1.63 | $ 1.45 | |
Shares available for grant, balance (in shares) | 5,582,742 | 1,230,863 | 295,180 |
Number of options outstanding, balance (in shares) | 10,216,106 | 6,813,033 | 1,811,652 |
Weighted average exercise price, balance (in dollars per share) | $ 4.96 | $ 2.70 | $ 2.74 |
Note 12 - Equity Incentive Pl_5
Note 12 - Equity Incentive Plans - Assumptions of Options (Details) - Share-based Payment Arrangement, Option [Member] | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Dividend yield | 0.00% | 0.00% | 0.00% |
Minimum [Member] | |||
Risk-free interest rate | 0.91% | 0.40% | 1.68% |
Expected term (in years) (Year) | 5 years 5 months 8 days | 5 years 2 months 19 days | 5 years 4 months 20 days |
Expected volatility | 122.00% | 94.00% | 83.00% |
Maximum [Member] | |||
Risk-free interest rate | 1.35% | 0.88% | 2.31% |
Expected term (in years) (Year) | 6 years 29 days | 10 years | 10 years |
Expected volatility | 131.00% | 111.00% | 85.00% |
Note 12 - Equity Incentive Pl_6
Note 12 - Equity Incentive Plans - Total Stock-based Compensation Recognized for Options (Details) - Share-based Payment Arrangement, Option [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stock-based compensation | $ 8,867 | $ 4,358 | $ 627 |
Research and Development Expense [Member] | |||
Stock-based compensation | 4,304 | 1,563 | 253 |
General and Administrative Expense [Member] | |||
Stock-based compensation | $ 4,563 | $ 2,795 | $ 374 |
Note 13 - Related Party Trans_2
Note 13 - Related Party Transactions (Details Textual) | 1 Months Ended |
Apr. 30, 2020USD ($) | |
Disgorgement of Stockholder Short-swing Profits [Member] | |
Related Party Transaction, Amounts of Transaction | $ 652,000 |
Note 14 - Restructuring Charg_3
Note 14 - Restructuring Charges (Reversals) (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Sep. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Payments for Restructuring | $ 2,799,000 | $ 1,272,000 | |||
Restructuring Charges (Reversals) | $ 0 | (849,000) | 4,920,000 | ||
Restructuring Reserve, Ending Balance | $ 0 | 0 | 3,648,000 | $ 0 | |
Contract Termination [Member] | |||||
Payments for Restructuring | $ 2,252,000 | 2,252,000 | 0 | ||
Restructuring Reserve, Ending Balance | $ 0 | $ 3,223,000 | $ 0 |
Note 14 - Restructuring Charg_4
Note 14 - Restructuring Charges (Reversals) - Restructuring Liabilities (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2021 | |
Cumulative cost incurred | $ 4,071,000 | |||
Balance | $ 3,648,000 | $ 0 | ||
Period charges | 122,000 | 4,920,000 | ||
Settlements | (2,799,000) | (1,272,000) | ||
Period reversals | (971,000) | |||
Balance | 0 | 3,648,000 | ||
Contract Termination [Member] | ||||
Cumulative cost incurred | 2,252,000 | |||
Balance | 3,223,000 | 0 | ||
Period charges | 0 | 3,223,000 | ||
Settlements | $ (2,252,000) | (2,252,000) | 0 | |
Period reversals | (971,000) | |||
Balance | 0 | 3,223,000 | ||
Employee Severance [Member] | ||||
Cumulative cost incurred | 368,000 | |||
Balance | 368,000 | 0 | ||
Period charges | 0 | 368,000 | ||
Settlements | (368,000) | 0 | ||
Period reversals | 0 | |||
Balance | 0 | 368,000 | ||
Impairment Charges [Member] | ||||
Cumulative cost incurred | 1,272,000 | |||
Balance | 0 | 0 | ||
Period charges | 0 | 1,272,000 | ||
Settlements | 0 | (1,272,000) | ||
Period reversals | 0 | |||
Balance | 0 | 0 | ||
Other Restructuring [Member] | ||||
Cumulative cost incurred | $ 179,000 | |||
Balance | 57,000 | 0 | ||
Period charges | 122,000 | 57,000 | ||
Settlements | (179,000) | 0 | ||
Period reversals | 0 | |||
Balance | $ 0 | $ 57,000 |
Note 15 - Benefit Plan (Details
Note 15 - Benefit Plan (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3.00% | ||
Defined Contribution Plan, Cost | $ 288,000 | $ 96,000 | $ 140,000 |
Defined Contribution Plan, Administrative Expense | $ 14,000 | $ 10,000 | $ 14,000 |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 20,600 | $ 8,600 | $ (35,300) | |
Unrecognized Tax Benefits, Ending Balance | 2,422 | 1,281 | 851 | $ 1,582 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 0 | 0 | 0 | |
Domestic Tax Authority [Member] | ||||
Operating Loss Carryforwards, Total | 115,900 | 51,600 | 18,000 | |
Domestic Tax Authority [Member] | Research Tax Credit Carryforward [Member] | ||||
Tax Credit Carryforward, Amount | 3,100 | 900 | 100 | |
State and Local Jurisdiction [Member] | ||||
Operating Loss Carryforwards, Total | $ 84,800 | 26,800 | 1,600 | |
Open Tax Year | 2016 2017 2018 2019 2020 2021 | |||
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member] | ||||
Tax Credit Carryforward, Amount | $ 5,000 | $ 3,400 | $ 2,700 | |
Foreign Tax Authority [Member] | Australian Taxation Office [Member] | ||||
Operating Loss Carryforwards, Total | $ 6,700 |
Note 16 - Income Taxes - Compon
Note 16 - Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current: | |||
Federal | $ 0 | $ 0 | $ 0 |
State | 1 | 3 | 2 |
Foreign | 106 | 235 | 488 |
Total Current | 107 | 238 | 490 |
Deferred: | |||
Federal | 0 | 0 | 0 |
State | 0 | 0 | 0 |
Foreign | 0 | 0 | 0 |
Total Deferred | 0 | 0 | 0 |
Provision for income taxes | $ 107 | $ 238 | $ 490 |
Note 16 - Income Taxes - Comp_2
Note 16 - Income Taxes - Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Net operating loss carryforwards | $ 30,256 | $ 14,161 | $ 6,924 |
Research and development tax credits | 4,923 | 2,497 | 1,591 |
Capitalized research and development | 4,016 | 4,534 | 4,773 |
Sale of future royalties | 5,826 | 7,178 | 7,486 |
Lease liability | 3,184 | 1,695 | 492 |
Accruals, reserves and other | 3,043 | 1,327 | 1,253 |
Total deferred tax assets | 51,248 | 31,392 | 22,519 |
Valuation allowance | (42,589) | (21,952) | (13,365) |
Deferred tax assets net of valuation allowance | 8,659 | 9,440 | 9,154 |
Intangible assets | (5,410) | (7,832) | (8,730) |
Right-of-use assets | (3,223) | (1,608) | (424) |
Depreciation on property and equipment | (26) | 0 | 0 |
Total deferred tax liabilities | (8,659) | (9,440) | (9,154) |
Net deferred tax assets | $ 0 | $ 0 | $ 0 |
Note 16 - Income Taxes - Reconc
Note 16 - Income Taxes - Reconciliation of Effective Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
U.S. federal taxes at statutory rate | 21.00% | 21.00% | 21.00% |
State taxes (net of federal benefit) | 4.00% | 2.90% | 0.40% |
Foreign rate differential | 0.30% | (0.70%) | (2.60%) |
Permanently non-deductible items | 0.20% | 2.20% | (3.70%) |
Tax credits | 3.40% | 2.80% | 1.70% |
Change in valuation allowance | (29.30%) | (26.80%) | 194.20% |
Tax attributes write-off due to change in control | 0.00% | 0.50% | (208.30%) |
Prior year true-up | 0.60% | (2.50%) | (0.90%) |
Other | (0.30%) | (0.10%) | (4.50%) |
Provision for income taxes | (0.10%) | (0.70%) | (2.70%) |
Note 16 - Income Taxes - Unreco
Note 16 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Beginning Balance | $ 1,281 | $ 851 | $ 1,582 |
Additions based on tax positions related to the current year | 1,132 | 431 | 159 |
Increase related to prior years’ tax positions | 9 | ||
Decrease related to prior years’ tax positions | (1) | (890) | |
Ending Balance | $ 2,422 | $ 1,281 | $ 851 |
Note 17 - Net Loss Per Share _3
Note 17 - Net Loss Per Share Attributable to Common Stockholders (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Dilutive Securities, Effect on Basic Earnings Per Share, Total | $ 0 | $ 0 | $ 0 |
Note 17 - Net Loss Per Share _4
Note 17 - Net Loss Per Share Attributable to Common Stockholders - Calculation of Basic and Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net loss | $ (20,764) | $ (17,583) | $ (16,116) | $ (16,007) | $ (13,861) | $ (8,085) | $ (8,977) | $ (1,297) | $ (6,409) | $ (5,260) | $ (5,637) | $ (1,339) | $ (70,470) | $ (32,220) | $ (18,645) |
Shares used to compute net loss per share – basic and diluted (in shares) | 121,453,723 | 88,295,762 | 21,569,523 | ||||||||||||
Net loss per share – basic and diluted (in dollars per share) | $ (0.17) | $ (0.14) | $ (0.13) | $ (0.14) | $ (0.13) | $ (0.08) | $ (0.12) | $ (0.02) | $ (0.13) | $ (0.32) | $ (0.39) | $ (0.18) | $ (0.58) | $ (0.36) | $ (0.86) |
Note 17 - Net Loss Per Share _5
Note 17 - Net Loss Per Share Attributable to Common Stockholders - Summary of Antidilutive Securities (Details) - shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares) | 8,575,180 | 19,183,231 | 19,163,520 |
Share-based Payment Arrangement, Option [Member] | |||
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares) | 8,206,137 | 4,409,806 | 1,583,575 |
Warrant [Member] | Common Stock [Member] | |||
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares) | 369,043 | 14,773,425 | 17,579,945 |
Note 18 - Quarterly Financial_3
Note 18 - Quarterly Financial Data (Unaudited) - Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 74 | $ 200 | $ 112 | $ 506 | $ 356 | $ 265 | $ 523 | $ 2,902 | $ 3,916 | $ 454 | $ 85 | $ 5,407 | $ 892 | $ 4,046 | $ 9,862 |
Operating expenses | 24,289 | 17,451 | 15,887 | 16,017 | 13,717 | 7,854 | 9,049 | 3,596 | 9,542 | 5,168 | 5,082 | 5,855 | 73,644 | 34,216 | 25,647 |
Net loss | $ (20,764) | $ (17,583) | $ (16,116) | $ (16,007) | $ (13,861) | $ (8,085) | $ (8,977) | $ (1,297) | $ (6,409) | $ (5,260) | $ (5,637) | $ (1,339) | $ (70,470) | $ (32,220) | $ (18,645) |
Net loss per share – basic and diluted (in dollars per share) | $ (0.17) | $ (0.14) | $ (0.13) | $ (0.14) | $ (0.13) | $ (0.08) | $ (0.12) | $ (0.02) | $ (0.13) | $ (0.32) | $ (0.39) | $ (0.18) | $ (0.58) | $ (0.36) | $ (0.86) |
Note 19 - Subsequent Events (De
Note 19 - Subsequent Events (Details Textual) - USD ($) $ in Thousands | Mar. 20, 2019 | Sep. 30, 2021 | Feb. 24, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Stock Issued During Period, Shares, New Issues (in shares) | 1,200,000 | |||||
Proceeds from Issuance of Common Stock | $ 2,500 | $ 0 | $ 9,175 | $ 2,540 | ||
The September 2021 ATM [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 0 | |||||
The September 2021 ATM [Member] | Subsequent Event [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 216,000 | |||||
Proceeds from Issuance of Common Stock | $ 1,000 |