Vaxart (VXRT) 10-Q 8 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 07, 2022
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	Q3
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-35285
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	59-1212264
Entity Address, Address Line One	170 Harbor Way, Suite 300
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	650
Local Phone Number	550-3500
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	VXRT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		131,249,086

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 50,768	$ 143,745
Short-term investments	63,999	22,742
Accounts receivable	0	71
Prepaid expenses and other current assets	5,613	2,609
Total current assets	120,380	169,167
Long-term investments	0	16,210
Property and equipment, net	12,280	6,601
Right-of-use assets, net	26,607	13,168
Intangible assets, net	9,611	10,624
Goodwill	4,508	4,508
Other long-term assets	1,923	890
Total assets	175,309	221,168
Current liabilities:
Accounts payable	7,916	3,872
Current portion of operating lease liability	2,149	1,011
Current portion of liability related to sale of future royalties	1,331	836
Other accrued liabilities	10,344	5,064
Total current liabilities	21,740	10,783
Operating lease liability, net of current portion	20,019	11,997
Liability related to sale of future royalties, net of current portion	11,027	10,686
Other long-term liabilities	216	171
Total liabilities	53,002	33,637
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock: $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding as of September 30, 2022 and December 31, 2021	0	0
Common stock: $0.0001 par value; 250,000,000 shares authorized; 128,331,408 and 125,594,393 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	13	13
Additional paid-in capital	426,003	406,943
Accumulated deficit	(303,191)	(219,351)
Accumulated other comprehensive loss	(518)	(74)
Total stockholders’ equity	122,307	187,531
Total liabilities and stockholders’ equity	$ 175,309	$ 221,168

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
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)	250,000,000	250,000,000
Common stock, shares issued (in shares)	128,331,408	125,594,393
Common stock, shares outstanding (in shares)	128,331,408	125,594,393

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer, Including Assessed Tax	$ 0	$ 200	$ 85	$ 818
Operating expenses:
Research and development	22,466	12,409	60,595	33,219
General and administrative	6,960	5,042	22,939	16,136
Total operating expenses	29,426	17,451	83,534	49,355
Operating loss	(29,426)	(17,251)	(83,449)	(48,537)
Other income (expense):
Interest income, net	458	26	650	58
Non-cash interest expense related to sale of future royalties	(325)	(337)	(988)	(1,137)
Foreign exchange loss, net	0	0	(2)	(1)
Loss before income taxes	(29,293)	(17,562)	(83,789)	(49,617)
Provision for income taxes	16	21	51	89
Net loss	$ (29,309)	$ (17,583)	$ (83,840)	$ (49,706)
Net loss per share - basic and diluted (in dollars per share)	$ (0.23)	$ (0.14)	$ (0.66)	$ (0.41)
Shares used to compute net loss per share - basic and diluted (in shares)	126,889,718	123,984,141	126,374,424	120,110,780
Comprehensive loss:
Net loss	$ (29,309)	$ (17,583)	$ (83,840)	$ (49,706)
Unrealized (loss) gain on available-for-sale investments, net of tax	(109)	6	(444)	(3)
Comprehensive loss	(29,418)	(17,577)	(84,284)	(49,709)
Customer Service Contracts [Member]
Revenue from Contract with Customer, Including Assessed Tax	0	0	0	13
Non Cash Royalty Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 0	$ 200	$ 85	$ 805

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balances (in shares) at Dec. 31, 2020	110,271,093
Balances at Dec. 31, 2020	$ 11	$ 272,274	$ (148,881)	$ 0	$ 123,404
Issuance of common stock (in shares)	13,239,839
Issuance of common stock	$ 2	122,208	0	0	$ 122,210
Issuance of common stock upon exercise of stock options (in shares)	771,344				771,344
Issuance of common stock upon exercise of stock options	$ 0	1,240	0	0	$ 1,240
Stock-based compensation	0	5,954	0	0	5,954
Unrealized gains (losses) on available-for-sale investments	0	0	0	(3)	(3)
Net loss	$ 0	0	(49,706)	0	(49,706)
Issuance of common stock upon exercise of warrants (in shares)	1,012,540
Issuance of common stock upon exercise of warrants	$ 0	1,849	0	0	1,849
Balances (in shares) at Sep. 30, 2021	125,294,816
Balances at Sep. 30, 2021	$ 13	403,525	(198,587)	(3)	204,948
Balances (in shares) at Jun. 30, 2021	122,814,467
Balances at Jun. 30, 2021	$ 12	380,783	(181,004)	(9)	199,782
Issuance of common stock (in shares)	2,280,931
Issuance of common stock	$ 1	20,295	0	0	20,296
Issuance of common stock upon exercise of stock options (in shares)	199,418
Issuance of common stock upon exercise of stock options	$ 0	348	0	0	348
Stock-based compensation	0	2,099	0	0	2,099
Unrealized gains (losses) on available-for-sale investments	0	0	0	6	6
Net loss	$ 0	0	(17,583)	0	(17,583)
Issuance of common stock upon exercise of warrants (in shares)	0
Issuance of common stock upon exercise of warrants	$ 0	0	0	0	0
Balances (in shares) at Sep. 30, 2021	125,294,816
Balances at Sep. 30, 2021	$ 13	403,525	(198,587)	(3)	204,948
Balances (in shares) at Dec. 31, 2021	125,594,393
Balances at Dec. 31, 2021	$ 13	406,943	(219,351)	(74)	187,531
Issuance of common stock (in shares)	2,565,022
Issuance of common stock	$ 0	8,650	0	0	$ 8,650
Issuance of common stock upon exercise of stock options (in shares)	166,993				166,993
Issuance of common stock upon exercise of stock options	$ 0	214	0	0	$ 214
Stock-based compensation	0	10,194	0	0	10,194
Unrealized gains (losses) on available-for-sale investments	0	0	0	(444)	(444)
Net loss	$ 0	0	(83,840)	0	(83,840)
Issuance of common stock upon exercise of warrants (in shares)	5,000
Issuance of common stock upon exercise of warrants	$ 0	2	0	0	2
Balances (in shares) at Sep. 30, 2022	128,331,408
Balances at Sep. 30, 2022	$ 13	426,003	(303,191)	(518)	122,307
Balances (in shares) at Jun. 30, 2022	126,446,036
Balances at Jun. 30, 2022	$ 13	417,372	(273,882)	(409)	143,094
Issuance of common stock (in shares)	1,789,022
Issuance of common stock	$ 0	4,853	0	0	4,853
Issuance of common stock upon exercise of stock options (in shares)	96,350
Issuance of common stock upon exercise of stock options	$ 0	135	0	0	135
Stock-based compensation	0	3,643	0	0	3,643
Unrealized gains (losses) on available-for-sale investments	0	0	0	(109)	(109)
Net loss	$ 0	0	(29,309)	0	(29,309)
Balances (in shares) at Sep. 30, 2022	128,331,408
Balances at Sep. 30, 2022	$ 13	$ 426,003	$ (303,191)	$ (518)	$ 122,307

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Offering costs	$ 161	$ 746	$ 583	$ 5,752

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (83,840,000)	$ (49,706,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,915,000	3,010,000
Accretion of (discount) premium on investments	(13,000)	55,000
Stock-based compensation	10,194,000	5,954,000
Non-cash interest expense related to sale of future royalties	988,000	1,137,000
Non-cash revenue related to sale of future royalties	(152,000)	(908,000)
Change in operating assets and liabilities:
Accounts receivable	71,000	144,000
Prepaid expenses and other assets	(4,037,000)	(3,570,000)
Accounts payable	2,528,000	1,483,000
Other accrued liabilities	4,719,000	(1,617,000)
Net cash used in operating activities	(65,627,000)	(44,018,000)
Cash flows from investing activities:
Purchase of property and equipment	(5,700,000)	(4,142,000)
Cash paid for right-of-use assets	(5,038,000)	0
Purchases of investments	(48,178,000)	(41,278,000)
Proceeds from maturities of investments	22,700,000	4,500,000
Net cash used in investing activities	(36,216,000)	(40,920,000)
Cash flows from financing activities:
Net proceeds from issuance of common stock through ATM facilities	8,650,000	122,210,000
Proceeds from issuance of common stock upon exercise of warrants	2,000	1,849,000
Proceeds from issuance of common stock upon exercise of stock options	214,000	1,240,000
Net cash provided by financing activities	8,866,000	125,299,000
Net (decrease) increase in cash and cash equivalents	(92,977,000)	40,361,000
Cash and cash equivalents at beginning of the period	143,745,000	126,870,000
Cash and cash equivalents at end of the period	50,768,000	167,231,000
Supplemental disclosure of non-cash investing and financing activity:
Operating lease liabilities arising from obtaining right-of-use assets	9,997,000	6,939,000
Lease-related assets and liabilities derecognized on early termination and modification of leases	0	235,000
Acquisition of property and equipment included in accounts payable and accrued expenses	$ 1,738,000	$ 289,000

Note 1 - Organization and Basis

Note 1 - Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. General Vaxart Biosciences, Inc. was originally incorporated in California in March 2004, July 2007, February 13, 2018, On October 13, 2020, “October 2020 October 13, 2020, December 31, 2020, October 2020 2020. In the nine September 30, 2021, October 2020 October 2020 On September 13, 2021, October 2020 September 15, 2021, “September 2021 may September 16, 2021, December 31, 2021, September 2021 nine September 30, 2022 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	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2. Basis of Presentation December 31, 2021, 10 February 24, 2022 ( no 2 not Basis of Consolidation Use of Estimates 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 Recent Accounting Pronouncements The Company has reviewed all newly-issued accounting pronouncements that are not not not

Note 3 - Fair Value of Financia

Note 3 - Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 3 . Fair Value of Financial Instruments Fair value accounting is applied for all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). Financial instruments include cash and cash equivalents, marketable securities, accounts receivable, accounts payable and accrued liabilities that approximate fair value due to their relatively short maturities. Assets and liabilities recorded at fair value on a recurring basis in the balance sheets are categorized based upon the level of judgment associated with inputs used to measure their fair values. The accounting guidance for fair value provides a framework for measuring fair value and requires certain disclosures about how fair value is determined. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance also establishes a three The three Level 1 Level 2 not Level 3 no The following table sets forth the fair value of the Company’s financial assets that are measured on a recurring basis as of September 30, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total September 30, 2022 Financial assets: Money market funds $ 30,873 $ — $ — $ 30,873 U.S. Treasury securities — 49,389 — 49,389 Commercial paper — 8,959 — 8,959 Corporate debt securities — 5,651 — 5,651 Total $ 30,873 $ 63,999 $ — $ 94,872 Level 1 Level 2 Level 3 Total December 31, 2021 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 $ 70,978 $ 38,952 $ — $ 109,930 The Company held no recurring financial liabilities as of September 30, 2022 December 31, 2021 nine September 30, 2022 2021

Note 4 - Balance Sheet Componen

Note 4 - Balance Sheet Components	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	NOTE 4 . Balance Sheet Components (a) Cash, Cash Equivalents and Investments Cash, cash equivalents and investments consisted of the following (in thousands): Amortized Gross Unrealized Estimated Cash and Cash Short-Term Long-Term Cost Gains Losses Fair Value Equivalents Investments Investments September 30, 2022 Cash at banks $ 19,895 $ — $ — $ 19,895 $ 19,895 $ — $ — Money market funds 30,873 — — 30,873 30,873 — — U.S. Treasury securities 49,841 — (452 ) 49,389 — 49,389 — Commercial paper 8,959 — — 8,959 — 8,959 — Corporate debt securities 5,716 — (65 ) 5,651 — 5,651 — Total $ 115,284 $ — $ (517 ) $ 114,767 $ 50,768 $ 63,999 $ — 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 (b) Accounts Receivable Accounts receivable comprises royalties receivable of nil September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 (c) Property and Equipment, Net Property and equipment, net consists of the following (in thousands): September 30, 2022 December 31, 2021 Laboratory equipment $ 7,465 $ 5,057 Office and computer equipment 767 481 Leasehold improvements 1,063 1,063 Construction in progress 5,596 1,305 Total property and equipment 14,891 7,906 Less: accumulated depreciation (2,611 ) (1,305 ) Property and equipment, net $ 12,280 $ 6,601 Depreciation expense was $489,000 and $211,000 for the three September 30, 2022 2021 nine September 30, 2022 2021 nine September 30, 2022 2021 (d) Right-of-Use Assets , Net Right-of-use assets, net comprises facilities of $26.6 million and $13.2 million as of September 30, 2022 December 31, 2021 (e) Intangible Assets, Net Intangible assets comprise developed technology and intellectual property. Intangible assets are carried at cost less accumulated amortization. Amortization is computed using the straight-line method over useful lives ranging from 1.3 to 11.75 years for developed technology and 20 years for intellectual property. As of September 30, 2022 September 30, 2022 December 31, 2021 Developed technology $ 10,600 $ 10,600 Intellectual property 80 80 Total cost 10,680 10,680 Less: accumulated amortization (1,069 ) (56 ) Intangible assets, net $ 9,611 $ 10,624 Total amortization expense for the three September 30, 2022 2021 nine September 30, 2022 2021 September 30, 2022 Year Ending December 31, Amount 2022 (three months remaining) $ 338 2023 1,350 2024 1,350 2025 1,350 2026 1,350 Thereafter 3,873 Total $ 9,611 (f) Goodwill Goodwill, which represents the excess of the purchase price over the fair value of assets acquired, comprises $4.5 million as of September 30, 2022 December 31, 2021 September 30, 2022 (g) Other Accrued Liabilities Other accrued liabilities consist of the following (in thousands): September 30, 2022 December 31, 2021 Accrued compensation $ 3,809 $ 2,786 Accrued clinical and manufacturing expenses 1,203 986 Accrued professional and consulting services 715 556 Accrued litigation settlement 2,000 — Other liabilities, current portion 2,617 736 Total $ 10,344 $ 5,064

Note 5 - Revenue

Note 5 - Revenue	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Revenue [Text Block]	NOTE 5 . Revenue Royalty Agreement The Company 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, nine September 30, 2022 2021 6 nil three September 30, 2022 2021 $85,000 nine September 30, 2022 2021 nil three September 30, 2022 2021 $4,000 nine September 30, 2022 2021 The Company’s royalty revenue is seasonal, in line with the flu season, so the majority of the Company’s royalty revenue and non-cash royalty revenue related to the sale of future royalties are earned in the first fourth

Note 6 - Liabilities Related to

Note 6 - Liabilities Related to Sale of Future Royalties	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Liabilities Related to Sale of Future Royalties [Text Block]	6 . Liabilities Related to Sale of Future Royalties In April 2016, first April 1, Under the relevant accounting guidance, due to a limit on the amount of royalties that HCRP can earn under the RIAA, this transaction is accounted for as a liability that is being amortized using the interest method over the life of the arrangement. The Company has no not not The following table shows the activity within the liability account during the nine September 30, 2022 Total liability related to sale of future royalties, start of period $ 11,522 Non-cash royalty revenue paid to HCRP (152 ) Non-cash interest expense recognized 988 Total liability related to sale of future royalties, end of period 12,358 Current portion (1,331 ) Long-term portion $ 11,027

Note 7 - Leases

Note 7 - Leases	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	7 . Leas es The Company has obtained the right of use for office and manufacturing facilities under seven one two one one The Company obtained the right of use of real estate located in South San Francisco, California, in November 2020 September 30, 2025, March 31, 2029, no June 2015 April 30, 2020, five July 2019, April 30, 2025, March 31, 2029, eight September 2021 March 31, 2029, eight three September 30, 2022, first 2023. December 31, 2022, no March 30, 2029, five May 31, 2025, two one As of September 30, 2022 one The following table summarizes the Company’s undiscounted cash payment obligations for its operating lease liabilities with initial terms of more than twelve September 30, 2022 Year Ending December 31, 2022 (three months remaining) $ 994 2023 4,072 2024 4,213 2025 4,356 2026 4,964 Thereafter 11,787 Undiscounted total 30,386 Less: imputed interest (8,218 ) Present value of future minimum payments 22,168 Current portion of operating lease liability (2,149 ) Operating lease liability, net of current portion $ 20,019 The Company presently has no finance leases and no future obligations 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 three nine September 30, 2022 2021 one not Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Lease cost Operating lease cost $ 1,202 $ 651 $ 2,652 $ 1,824 Short-term lease cost 117 101 335 232 Variable lease cost 397 313 926 937 Sublease income — — — (36 ) Total lease cost $ 1,716 $ 1,065 $ 3,913 $ 2,957 Net cash outflows associated with operating leases, which include expenditures on leasehold improvements, totaled $1.4 million and $970,000 in the three September 30, 2022 2021 nine September 30, 2022 2021

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 8 . Commitments and Contingencies (a) Purchase Commitments As of September 30, 2022 Note 7 March 31, 2029, not $2.8 (b) Indemnifications In the ordinary course of business, the Company enters into agreements that may may third not may 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. third June 11, 2021. third third June 2020; April 24, 2020, two June 8, 2020. third no August 31, 2021, third not July 14, 2022, In re Vaxart, Inc. Stockholder Litigation third 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 8 July 28, 2022, October 3, 2022, January 12, 2023, not On October 23, 2020, Roth v. Armistice Capital LLC, et al. 16 On January 8, 2021, pro se Chan v. Vaxart, Inc. et al. The Company has accrued $2.0 million with respect to the Putative Class Action pursuant to the terms of the settlement agreement reached in that case. No not not may

Note 9 - Stockholders' Equity

Note 9 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 9 . Stock holders’ Equity (a) P referred Stock The Company is authorized to issue 5,000,000 shares of preferred stock, $0.0001 par value per share. The Company’s board of directors may, 5,000,000 one may (b) As of September 30, 2022, August 4, 2022, one may no September 30, 2022 In the event of the Company’s voluntary or involuntary liquidation, dissolution, distribution of assets or winding-up, the holders of the common stock will be entitled to receive an equal amount per share of all of the Company’s assets of whatever kind available for distribution to stockholders, after the rights of the holders of the preferred stock have been satisfied. There are no The Company had shares of common stock reserved for issuance as follows: September 30, 2022 December 31, 2021 Options issued and outstanding 14,965,813 10,216,106 RSUs issued and outstanding 723,716 — Available for future grants of equity awards 11,932,077 5,582,742 Common stock warrants 227,434 232,434 2022 Employee Stock Purchase Plan 1,800,000 — Total 29,649,040 16,031,282 (c) Warrants The following warrants were outstanding as of September 30, 2022 none Securities into which warrants are convertible Warrants Outstanding Exercise Price Expiration Date 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 227,434 In the event of a Fundamental Transaction (a transfer of ownership of the Company as defined in the warrant) within the Company’s control, the holders of the unexercised common stock warrants exercisable for $1.10 and $2.50 and those exercisable for $3.125 expiring in February 2025 not

Note 10 - Equity Incentive Plan

Note 10 - Equity Incentive Plans	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	NOTE 1 0 . Equity Incentive Plan s On April 23, 2019, 2019 “2019 may 2019 may 2019 not 2019 The aggregate number of shares of common stock authorized for issuance under the 2019 2019 June 8, 2020, June 16, 2021, August 4, 2022, 2019 2019 ten may In the nine September 30, 2022, four three A summary of stock option and RSU transactions in the nine September 30, 2022 Weighted Weighted Shares Number of Average Number of Average Available Options Exercise RSUs Grant Date For Grant Outstanding Price Outstanding Fair Value Balance at January 1, 2022 5,582,742 10,216,106 $ 4.96 — $ — 2019 Plan Amendment 12,000,000 — $ — — $ — Granted (6,530,935 ) 5,777,657 $ 4.38 753,278 $ 3.98 Exercised — (166,993 ) $ 1.28 — $ — Forfeited 818,749 (789,252 ) $ 6.40 (29,562 ) $ 3.79 Canceled 61,521 (71,705 ) $ 8.82 — $ — Balance at September 30, 2022 11,932,077 14,965,813 $ 4.68 723,716 $ 3.99 As of September 30, 2022 nine September 30, 2022 nine September 30, 2021 The weighted average grant date fair value of options awarded in the nine September 30, 2022 2021 Nine Months Ended September 30, 2022 2021 Risk-free interest rate 1.62% - 3.20% 0.91% - 1.19% Expected term (in years) 5.42 - 6.08 5.44 - 6.08 Expected volatility 125% - 131% 122% - 131% 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 and RSUs was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Research and development $ 2,567 $ 1,206 $ 6,977 $ 2,429 General and administrative 1,076 893 3,217 3,525 Total stock-based compensation $ 3,643 $ 2,099 $ 10,194 $ 5,954 As of September 30, 2022 On August 4, 2022, 2022 “2022 2022

Note 11 - Net Loss Per Share

Note 11 - Net Loss Per Share	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 11 . Net Loss Per Share The following table presents the calculation of basic and diluted net loss per share (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net loss $ (29,309 ) $ (17,583 ) $ (83,840 ) $ (49,706 ) Shares used to compute net loss per share – basic and diluted 126,889,718 123,984,141 126,374,424 120,110,780 Net loss per share – basic and diluted $ (0.23 ) $ (0.14 ) $ (0.66 ) $ (0.41 ) No adjustment has been made to the net loss in the three nine September 30, 2022 2021 The following potentially dilutive securities were excluded from the computation of diluted weighted average shares outstanding because they would have been antidilutive: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Options to purchase common stock 14,735,710 8,464,753 13,170,959 7,683,510 Restricted stock units 660,660 — 353,738 — Warrants to purchase common stock 227,434 232,434 229,156 413,121 Total potentially dilutive securities excluded from denominator of the diluted earnings per share computation 15,623,804 8,697,187 13,753,853 8,096,631

Note 12 - Subsequent Events

Note 12 - Subsequent Events	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 12 . Subsequent Events Since September 30, 2022, 3,194,043 September 2021 1 $5.5 Changes in the status of litigation since September 30, 2022, 8. Litigation

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation December 31, 2021, 10 February 24, 2022 ( no 2 not
Consolidation, Policy [Policy Text Block]	Basis of Consolidation
Use of Estimates, Policy [Policy Text Block]	Use of Estimates
Investment, Policy [Policy Text Block]	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
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements The Company has reviewed all newly-issued accounting pronouncements that are not not not

Note 3 - Fair Value of Financ_2

Note 3 - Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total September 30, 2022 Financial assets: Money market funds $ 30,873 $ — $ — $ 30,873 U.S. Treasury securities — 49,389 — 49,389 Commercial paper — 8,959 — 8,959 Corporate debt securities — 5,651 — 5,651 Total $ 30,873 $ 63,999 $ — $ 94,872 Level 1 Level 2 Level 3 Total December 31, 2021 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 $ 70,978 $ 38,952 $ — $ 109,930

Note 4 - Balance Sheet Compon_2

Note 4 - Balance Sheet Components (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 Cash at banks $ 19,895 $ — $ — $ 19,895 $ 19,895 $ — $ — Money market funds 30,873 — — 30,873 30,873 — — U.S. Treasury securities 49,841 — (452 ) 49,389 — 49,389 — Commercial paper 8,959 — — 8,959 — 8,959 — Corporate debt securities 5,716 — (65 ) 5,651 — 5,651 — Total $ 115,284 $ — $ (517 ) $ 114,767 $ 50,768 $ 63,999 $ — 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
Property, Plant and Equipment [Table Text Block]	September 30, 2022 December 31, 2021 Laboratory equipment $ 7,465 $ 5,057 Office and computer equipment 767 481 Leasehold improvements 1,063 1,063 Construction in progress 5,596 1,305 Total property and equipment 14,891 7,906 Less: accumulated depreciation (2,611 ) (1,305 ) Property and equipment, net $ 12,280 $ 6,601
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2022 December 31, 2021 Developed technology $ 10,600 $ 10,600 Intellectual property 80 80 Total cost 10,680 10,680 Less: accumulated amortization (1,069 ) (56 ) Intangible assets, net $ 9,611 $ 10,624
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year Ending December 31, Amount 2022 (three months remaining) $ 338 2023 1,350 2024 1,350 2025 1,350 2026 1,350 Thereafter 3,873 Total $ 9,611
Schedule of Accrued Liabilities [Table Text Block]	September 30, 2022 December 31, 2021 Accrued compensation $ 3,809 $ 2,786 Accrued clinical and manufacturing expenses 1,203 986 Accrued professional and consulting services 715 556 Accrued litigation settlement 2,000 — Other liabilities, current portion 2,617 736 Total $ 10,344 $ 5,064

Note 6 - Liabilities Related _2

Note 6 - Liabilities Related to Sale of Future Royalties (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Deferred Revenue, by Arrangement, Disclosure [Table Text Block]	Total liability related to sale of future royalties, start of period $ 11,522 Non-cash royalty revenue paid to HCRP (152 ) Non-cash interest expense recognized 988 Total liability related to sale of future royalties, end of period 12,358 Current portion (1,331 ) Long-term portion $ 11,027

Note 7 - Leases (Tables)

Note 7 - Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Ending December 31, 2022 (three months remaining) $ 994 2023 4,072 2024 4,213 2025 4,356 2026 4,964 Thereafter 11,787 Undiscounted total 30,386 Less: imputed interest (8,218 ) Present value of future minimum payments 22,168 Current portion of operating lease liability (2,149 ) Operating lease liability, net of current portion $ 20,019
Lease, Cost [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Lease cost Operating lease cost $ 1,202 $ 651 $ 2,652 $ 1,824 Short-term lease cost 117 101 335 232 Variable lease cost 397 313 926 937 Sublease income — — — (36 ) Total lease cost $ 1,716 $ 1,065 $ 3,913 $ 2,957

Note 9 - Stockholders' Equity (

Note 9 - Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Common Stock Reserved for Issuance [Table Text Block]	September 30, 2022 December 31, 2021 Options issued and outstanding 14,965,813 10,216,106 RSUs issued and outstanding 723,716 — Available for future grants of equity awards 11,932,077 5,582,742 Common stock warrants 227,434 232,434 2022 Employee Stock Purchase Plan 1,800,000 — Total 29,649,040 16,031,282
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 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 227,434

Note 10 - Equity Incentive Pl_2

Note 10 - Equity Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Share-Based Payment Arrangement, Activity [Table Text Block]	Weighted Weighted Shares Number of Average Number of Average Available Options Exercise RSUs Grant Date For Grant Outstanding Price Outstanding Fair Value Balance at January 1, 2022 5,582,742 10,216,106 $ 4.96 — $ — 2019 Plan Amendment 12,000,000 — $ — — $ — Granted (6,530,935 ) 5,777,657 $ 4.38 753,278 $ 3.98 Exercised — (166,993 ) $ 1.28 — $ — Forfeited 818,749 (789,252 ) $ 6.40 (29,562 ) $ 3.79 Canceled 61,521 (71,705 ) $ 8.82 — $ — Balance at September 30, 2022 11,932,077 14,965,813 $ 4.68 723,716 $ 3.99
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Nine Months Ended September 30, 2022 2021 Risk-free interest rate 1.62% - 3.20% 0.91% - 1.19% Expected term (in years) 5.42 - 6.08 5.44 - 6.08 Expected volatility 125% - 131% 122% - 131% Dividend yield —% —%
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Research and development $ 2,567 $ 1,206 $ 6,977 $ 2,429 General and administrative 1,076 893 3,217 3,525 Total stock-based compensation $ 3,643 $ 2,099 $ 10,194 $ 5,954

Note 11 - Net Loss Per Share (T

Note 11 - Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net loss $ (29,309 ) $ (17,583 ) $ (83,840 ) $ (49,706 ) Shares used to compute net loss per share – basic and diluted 126,889,718 123,984,141 126,374,424 120,110,780 Net loss per share – basic and diluted $ (0.23 ) $ (0.14 ) $ (0.66 ) $ (0.41 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Options to purchase common stock 14,735,710 8,464,753 13,170,959 7,683,510 Restricted stock units 660,660 — 353,738 — Warrants to purchase common stock 227,434 232,434 229,156 413,121 Total potentially dilutive securities excluded from denominator of the diluted earnings per share computation 15,623,804 8,697,187 13,753,853 8,096,631

Note 1 - Organization and Bas_2

Note 1 - Organization and Basis of Presentation (Details Textual) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended	9 Months Ended		11 Months Ended
	Sep. 15, 2021	Oct. 13, 2020	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2022	Sep. 30, 2021	Sep. 13, 2021
Proceeds from Issuance of Common Stock					$ 8,650	$ 122,210
The October 2020 Offering [Member]
Open Market Sale Agreement, Maximum Aggregate Offering Price		$ 250,000
Payments of Stock Issuance Costs		$ 300
Open Market Sale Agreement, Sales Commission, Percentage		4.50%
Stock Issued During Period, Shares, New Issues (in shares)				692,651		13,239,839	13,932,490
Proceeds from Issuance of Common Stock				$ 5,500		$ 127,900	$ 133,400
Proceeds from Issuance of Common Stock, Net				$ 4,900		$ 122,200	$ 127,100
The September 2021 ATM [Member]
Open Market Sale Agreement, Maximum Aggregate Offering Price	$ 100,000
Open Market Sale Agreement, Sales Commission, Percentage	3%
Stock Issued During Period, Shares, New Issues (in shares)			0		2,565,022
Proceeds from Issuance of Common Stock					$ 9,200
Proceeds from Issuance of Common Stock, Net					$ 8,600

Note 3 - Fair Value of Financ_3

Note 3 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Fair Value, Recurring [Member]
Financial Liabilities Fair Value Disclosure, Total	$ 0	$ 0	$ 0

Note 3 - Fair Value of Financ_4

Note 3 - Fair Value of Financial Instruments - Financial Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Money Market Funds [Member]
Money market funds, Fair Value	$ 30,873	$ 70,978
Fair Value, Recurring [Member]
Assets, Fair Value	94,872	109,930
Fair Value, Recurring [Member] | US Treasury Securities [Member]
Investments, Fair Value Disclosure	49,389	24,997
Fair Value, Recurring [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Investments, Fair Value Disclosure	8,959	7,491
Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Investments, Fair Value Disclosure	5,651	6,464
Fair Value, Recurring [Member] | Money Market Funds [Member]
Money market funds, Fair Value	30,873	70,978
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value	30,873	70,978
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member]
Investments, Fair Value Disclosure	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Investments, Fair Value Disclosure	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]
Investments, Fair Value Disclosure	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Money market funds, Fair Value	30,873	70,978
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value	63,999	38,952
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member]
Investments, Fair Value Disclosure	49,389	24,997
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Investments, Fair Value Disclosure	8,959	7,491
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]
Investments, Fair Value Disclosure	5,651	6,464
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]
Money market funds, Fair Value	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member]
Investments, Fair Value Disclosure	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Investments, Fair Value Disclosure	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]
Investments, Fair Value Disclosure	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member]
Money market funds, Fair Value	$ 0	$ 0

Note 4 - Balance Sheet Compon_3

Note 4 - Balance Sheet Components (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
Accounts Receivable, after Allowance for Credit Loss, Current, Total	$ 0		$ 0			$ 71,000
Accounts Receivable, Allowance for Credit Loss, Current	0		0			0
Depreciation, Total	489,000	$ 211,000	1,300,000	$ 406,000
Tangible Asset Impairment Charges, Total			0	0
Operating Lease, Right-of-Use Asset	26,607,000		26,607,000			13,168,000
Amortization of Intangible Assets	338,000	$ 433,000	1,000,000	$ 1,300,000
Goodwill, Ending Balance	4,508,000		4,508,000		$ 4,500,000	4,508,000
Goodwill, Impairment Loss			$ 0
Developed Technology Rights [Member]
Finite-Lived Intangible Assets, Remaining Amortization Period (Year)			7 years 1 month 6 days
Intellectual Property [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			20 years
Finite-Lived Intangible Assets, Remaining Amortization Period (Year)			5 years 3 months
Minimum [Member] | Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			1 year 3 months 18 days
Maximum [Member] | Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			11 years 9 months
Royalty [Member]
Accounts Receivable, after Allowance for Credit Loss, Current, Total	$ 0		$ 0			$ 71,000

Note 4 - Balance Sheet Compon_4

Note 4 - Balance Sheet Components - Cash and Cash Equivalents and Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Cash and cash equivalents	$ 50,768	$ 143,745	$ 167,231	$ 126,870
Gross Unrealized Loss	(517)	(74)
Short-term investments	63,999	22,742
Long-term investments	0	16,210
Investments and Cash	115,284	182,771
Investments and Cash, Fair Value Disclosure	114,767	182,697
US Treasury Securities [Member]
Amortized Cost	49,841	25,055
Gross Unrealized Loss	(452)	(58)
Estimated Fair Value	49,389	24,997
Short-term investments	49,389	12,022
Long-term investments	0	12,975
Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Amortized Cost	8,959	7,491
Gross Unrealized Loss	0
Estimated Fair Value	8,959	7,491
Short-term investments	8,959	7,491
Corporate Debt Securities [Member]
Amortized Cost	5,716	6,480
Gross Unrealized Loss	(65)	(16)
Estimated Fair Value	5,651	6,464
Short-term investments	5,651	3,229
Long-term investments		3,235
Cash [Member]
Cash and Cash Equivalents, at Carrying Value	19,895	72,767
Money market funds, Fair Value	19,895	72,767
Cash and cash equivalents	19,895	72,767
Money Market Funds [Member]
Cash and Cash Equivalents, at Carrying Value	30,873	70,978
Money market funds, Fair Value	30,873	70,978
Cash and cash equivalents	$ 30,873	$ 70,978

Note 4 - Balance Sheet Compon_5

Note 4 - Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property and equipment, gross	$ 14,891	$ 7,906
Less: accumulated depreciation	(2,611)	(1,305)
Property and equipment, net	12,280	6,601
Laboratory Equipment [Member]
Property and equipment, gross	7,465	5,057
Office Equipment [Member]
Property and equipment, gross	767	481
Leasehold Improvements [Member]
Property and equipment, gross	1,063	1,063
Construction in Progress [Member]
Property and equipment, gross	$ 5,596	$ 1,305

Note 4 - Balance Sheet Compon_6

Note 4 - Balance Sheet Components - Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Intangible assets, gross	$ 10,680	$ 10,680
Less: accumulated amortization	(1,069)	(56)
Intangible assets, net	9,611	10,624
Developed Technology Rights [Member]
Intangible assets, gross	10,600	10,600
Intellectual Property [Member]
Intangible assets, gross	$ 80	$ 80

Note 4 - Balance Sheet Compon_7

Note 4 - Balance Sheet Components - Estimated Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2022 USD ($)
2022 (three months remaining)	$ 338
2023	1,350
2024	1,350
2025	1,350
2026	1,350
Thereafter	3,873
Total	$ 9,611

Note 4 - Balance Sheet Compon_8

Note 4 - Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accrued compensation	$ 3,809	$ 2,786
Accrued clinical and manufacturing expenses	1,203	986
Accrued professional and consulting services	715	556
Accrued litigation settlement	2,000	0
Other liabilities, current portion	2,617	736
Total	$ 10,344	$ 5,064

Note 5 - Revenue (Details Textu

Note 5 - Revenue (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer, Including Assessed Tax	$ 0	$ 200,000	$ 85,000	$ 818,000
Income Tax Expense (Benefit), Total	16,000	21,000	$ 51,000	89,000
Foreign Tax Authority [Member] | National Tax Agency, Japan [Member]
Royalty Withholding Tax			5%
Income Tax Expense (Benefit), Total	0	10,000	$ 4,000	40,000
Royalty [Member] | Daiichi Sankyo Collaberation and License Agreement [Member]
Royalty Percentage			4%
Revenue from Contract with Customer, Including Assessed Tax			$ 0	0
Non Cash Royalty Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax	0	200,000	85,000	805,000
Non Cash Royalty Revenue [Member] | Daiichi Sankyo Collaberation and License Agreement [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 0	$ 200,000	$ 85,000	$ 805,000

Note 6 - Liabilities Related _3

Note 6 - Liabilities Related to Sale of Future Royalties (Details Textual) - HCRP [Member] $ in Millions	1 Months Ended
	Apr. 30, 2016 USD ($)
Proceeds from Sale of Future Royalties, Net	$ 20
Royalty Interest Due Each Year	$ 3
Royalty Interest, Percentage of Additional Royalties Due Each Year	15%
Royalty Interest, Additional Royalties Due Each Year	$ 1

Note 6 - Liabilities Related _4

Note 6 - Liabilities Related to Sale of Future Royalties - Deferred Revenue Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Current portion	$ (1,331)	$ (836)
Long-term portion	11,027	$ 10,686
HealthCare Royalty Partners III, L.P. [Member] | Royalty Arrangement [Member]
Total liability related to sale of future royalties, start of period	11,522
Non-cash royalty revenue paid to HCRP	(152)
Non-cash interest expense recognized	988
Total liability related to sale of future royalties, end of period	12,358
Current portion	(1,331)
Long-term portion	$ 11,027

Note 7 - Leases (Details Textua

Note 7 - Leases (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Jul. 31, 2019
Operating Lease, Weighted Average Discount Rate, Percent	9.80%		9.80%
Operating Lease, Weighted Average Remaining Lease Term (Year)	6 years 4 months 2 days		6 years 4 months 2 days
Lessee, Finance Lease, Number of Leases	0		0
Short-Term Lease Commitment, Amount	$ 0		$ 0
Operating Lease, Payments	$ 1,400,000	$ 970,000	$ 7,800,000	$ 2,800,000
Right of Use for Equipment with Initial Terms Exceeding One Year [Member]
Lessee, Operating Lease, Number of Right-of-Use Leases	7		7
Operating Lease Arrangements for Facilities [Member]
Lessee, Short-term Lease, Number of Leases	2		2
Lease Agreements for Manufacturing Equipment with Initial Terms of One Year or Less [Member]
Lessee, Short-term Lease, Number of Leases	1		1
South San Francisco Real Estate [Member]
Lessee, Operating Lease, Renewal Term (Year)	8 years		8 years		5 years
September 2021 Lease for Facility in South San Francisco [Member]
Lessee, Operating Lease, Renewal Term (Year)	8 years		8 years
Lessee, Operating Lease, Expected Tenant Improvements	$ 2,800,000		$ 2,800,000
Facility in South San Francisco [Member]
Lessee, Operating Lease, Renewal Term (Year)	5 years		5 years
Facility in Burlingame, California [Member]
Lessee, Short-term Lease, Number of Leases	2		2
Lessee, Operating Lease, Renewal Term (Year)	30 months		30 months
Lessee, Operating Lease, Number of Renewal Option	2		2

Note 7 - Leases - Lease Liabili

Note 7 - Leases - Lease Liabilities Payment Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
2022 (three months remaining)	$ 994
2023	4,072
2024	4,213
2025	4,356
2026	4,964
Thereafter	11,787
Undiscounted total	30,386
Less: imputed interest	(8,218)
Present value of future minimum payments	22,168
Current portion of operating lease liability	(2,149)	$ (1,011)
Operating lease liability, net of current portion	$ 20,019	$ 11,997

Note 7 - Leases - Operating Lea

Note 7 - Leases - Operating Lease Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating lease cost	$ 1,202	$ 651	$ 2,652	$ 1,824
Short-term lease cost	117	101	335	232
Variable lease cost	397	313	926	937
Sublease income	0	0	0	(36)
Total lease cost	$ 1,716	$ 1,065	$ 3,913	$ 2,957

Note 8 - Commitments and Cont_2

Note 8 - Commitments and Contingencies (Details Textual) - USD ($)		13 Months Ended
	Oct. 03, 2022	Sep. 30, 2022	Dec. 31, 2021
Accrued Litigation Settlement		$ 2,000,000	$ 0
Himmelberg v. Vaxart, Inc. et al. and Hovhannisyan v. Vaxart, Inc. et al.[Member] | Subsequent Event [Member]
Litigation Settlement, Amount to Escrow Account	$ 2,000,000
Lease for Facility in South San Francisco, California [Member]
Purchase Obligation, Total		13,700,000
Lessee, Operating Lease, Lease Not yet Commenced		400,000
Lessee, Operating Lease, Lease Not yet Commenced, Minimum Tenant Improvements		2,800,000
Payments for Tenant Improvements		600,000
Lessee, Operating Lease, Lease Not Yet Commenced, Purchase Obligation		$ 2,200,000

Note 9 - Stockholders' Equity_2

Note 9 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Aug. 04, 2022	Sep. 30, 2022	Aug. 03, 2022	Dec. 31, 2021
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
Common Stock, Shares Authorized (in shares)		250,000,000	150,000,000	250,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.0001		$ 0.0001
Common Stock, Increase in Shares Authorized (in shares)	100,000,000
Dividends, Total		$ 0
First Set of Warrants Expiring April 2024 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share)		$ 1.10
Warrants Expiring March 2025 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share)		2.50
Warrants Expiring February 2025 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share)		$ 3.125

Note 9 - Stockholders' Equity -

Note 9 - Stockholders' Equity - Shares of Common Stock Reserved for Issuance (Details) - shares	Sep. 30, 2022	Dec. 31, 2021
Common stock reserved for issuance (in shares)	29,649,040	16,031,282
Common Warrants [Member]
Common stock reserved for issuance (in shares)	227,434	232,434
Share-Based Payment Arrangement, Option [Member]
Common stock reserved for issuance (in shares)	14,965,813	10,216,106
Restricted Stock Units (RSUs) [Member]
Common stock reserved for issuance (in shares)	723,716	0
Future Grants of Equity Awards [Member]
Common stock reserved for issuance (in shares)	11,932,077	5,582,742
ESPP [Member]
Common stock reserved for issuance (in shares)	1,800,000	0

Note 9 - Stockholders' Equity_3

Note 9 - Stockholders' Equity - Summary of Warrants Outstanding (Details)	Sep. 30, 2022 $ / shares shares
Warrants outstanding (in shares)	227,434
First Set of Warrants Expiring September 2024 [Member]
Warrants outstanding (in shares)	44,148
Exercise Price (in dollars per share) | $ / shares	$ 1.10
First Set of Warrants Expiring April 2024 [Member]
Warrants outstanding (in shares)	26,515
Exercise Price (in dollars per share) | $ / shares	$ 1.375
Second Set of Warrants Expiring April 2024 [Member]
Warrants outstanding (in shares)	29,150
Exercise Price (in dollars per share) | $ / shares	$ 2.50
Warrants Expiring March 2025 [Member]
Warrants outstanding (in shares)	100,532
Exercise Price (in dollars per share) | $ / shares	$ 3.125
Warrants Expiring February 2025 [Member]
Warrants outstanding (in shares)	16,175
Exercise Price (in dollars per share) | $ / shares	$ 3.125
Warrants Expiring March 2024 [Member]
Warrants outstanding (in shares)	10,914
Exercise Price (in dollars per share) | $ / shares	$ 22.99

Note 10 - Equity Incentive Pl_3

Note 10 - Equity Incentive Plans (Details Textual) - USD ($)		9 Months Ended
	Apr. 23, 2019	Sep. 30, 2022	Sep. 30, 2021	Aug. 04, 2022	Dec. 31, 2021	Jun. 16, 2021	Jun. 08, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)		14,965,813			10,216,106
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)		$ 4.68			$ 4.96
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)		8 years 5 months 12 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value		$ 1,400,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares)		5,415,197
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share)		$ 3.75
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term (Year)		7 years 2 months 15 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value		$ 1,200,000
Proceeds from Stock Options Exercised		$ 214,000	$ 1,240,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)		166,993	771,344
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value		$ 474,000	$ 4,600,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 3.88	$ 6.67
Common Stock, Capital Shares Reserved for Future Issuance (in shares)		29,649,040			16,031,282
Restricted Stock Units (RSUs) [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)		723,716			0
Restricted Stock Units (RSUs) [Member] | Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		688,061
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		4 years
Restricted Stock Units (RSUs) [Member] | Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		29,500
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		3 years
Restricted Stock Units (RSUs) [Member] | Director [Member] | The Day Before Annual Stockholders Meeting, or Grant Date Anniversary [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		35,717
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		$ 38,400,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		3 years 18 days
Common Stock, Capital Shares Reserved for Future Issuance (in shares)		14,965,813			10,216,106
The 2019 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	1,600,000			28,900,000		16,900,000	8,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years
The 2022 ESPP [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)				1,800,000

Note 10 - Equity Incentive Pl_4

Note 10 - Equity Incentive Plans - Summary of Stock Option and RSU Transactions (Details) - $ / shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Shares available for grant (in shares)	5,582,742
Number of options outstanding (in shares)	10,216,106
Weighted average exercise price (in dollars per share)	$ 4.96
2019 Plan Amendment (in shares)	12,000,000
Shares available for grant, granted (in shares)	(6,530,935)
Number of options outstanding, granted (in shares)	5,777,657
Weighted average exercise price, granted (in dollars per share)	$ 4.38
Number of options outstanding, exercised (in shares)	(166,993)	(771,344)
Weighted average exercise price, exercised (in dollars per share)	$ 1.28
Shares available for grant, forfeited (in shares)	818,749
Number of options outstanding, forfeited (in shares)	(789,252)
Weighted average exercise price, forfeited (in dollars per share)	$ 6.40
Canceled (in shares)	61,521
Canceled (in shares)	(71,705)
Canceled (in dollars per share)	$ 8.82
Shares available for grant (in shares)	11,932,077
Number of options outstanding (in shares)	14,965,813
Weighted average exercise price (in dollars per share)	$ 4.68
Restricted Stock Units (RSUs) [Member]
Number of RSUs outstanding (in shares)	0
Weighted average grant date fair value (in dollars per share)	$ 0
Number of RSUs outstanding, granted (in shares)	753,278
Weighted average grant date fair value, granted (in dollars per share)	$ 3.98
Number of RSUs outstanding, exercised (in shares)	0
Weighted average grant date fair value, exercised (in dollars per share)	$ 0
Number of RSUs outstanding, forfeited (in shares)	(29,562)
Weighted average grant date fair value, forfeited (in dollars per share)	$ 3.79
Number of RSUs outstanding (in shares)	723,716
Weighted average grant date fair value (in dollars per share)	$ 3.99

Note 10 - Equity Incentive Pl_5

Note 10 - Equity Incentive Plans - Assumptions of Options (Details) - Share-Based Payment Arrangement, Option [Member]	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Minimum [Member]
Risk-free interest rate	1.62%	0.91%
Expected term (in years) (Year)	5 years 5 months 1 day	5 years 5 months 8 days
Expected volatility	125%	122%
Maximum [Member]
Risk-free interest rate	3.20%	1.19%
Expected term (in years) (Year)	6 years 29 days	6 years 29 days
Expected volatility	131%	131%

Note 10 - Equity Incentive Pl_6

Note 10 - Equity Incentive Plans - Total Stock-based Compensation Recognized for Options (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock-based compensation	$ 3,643	$ 2,099	$ 10,194	$ 5,954
Research and Development Expense [Member]
Stock-based compensation	2,567	1,206	6,977	2,429
General and Administrative Expense [Member]
Stock-based compensation	$ 1,076	$ 893	$ 3,217	$ 3,525

Note 11 - Net Loss Per Share (D

Note 11 - Net Loss Per Share (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Dilutive Securities, Effect on Basic Earnings Per Share, Total	$ 0	$ 0	$ 0	$ 0

Note 11 - Net Loss Per Share -

Note 11 - Net Loss Per Share - Calculation of Basic and Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net loss	$ (29,309)	$ (17,583)	$ (83,840)	$ (49,706)
Shares used to compute net loss per share - basic and diluted (in shares)	126,889,718	123,984,141	126,374,424	120,110,780
Net loss per share - basic and diluted (in dollars per share)	$ (0.23)	$ (0.14)	$ (0.66)	$ (0.41)

Note 11 - Net Loss Per Share _2

Note 11 - Net Loss Per Share - Summary of Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)	15,623,804	8,697,187	13,753,853	8,096,631
Share-Based Payment Arrangement, Option [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)	14,735,710	8,464,753	13,170,959	7,683,510
Restricted Stock Units (RSUs) [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)	660,660	0	353,738	0
Warrant [Member] | Common Stock [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)	227,434	232,434	229,156	413,121

Note 12 - Subsequent Events (De

Note 12 - Subsequent Events (Details Textual) - USD ($) $ in Thousands	1 Months Ended		9 Months Ended
	Nov. 04, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Proceeds from Issuance of Common Stock			$ 8,650	$ 122,210
The September 2021 ATM [Member]
Stock Issued During Period, Shares, New Issues (in shares)		0	2,565,022
Proceeds from Issuance of Common Stock			$ 9,200
Subsequent Event [Member] | The September 2021 ATM [Member]
Stock Issued During Period, Shares, New Issues (in shares)	3,194,043
Proceeds from Issuance of Common Stock	$ 5,500