Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 09, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | GeoVax Labs, Inc. | |
Entity Central Index Key | 832,489 | |
Trading Symbol | govx | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 83,913,900 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 343,826 | $ 454,030 |
Grant funds receivable | 89,895 | 28,074 |
Prepaid expenses and other current assets | 12,420 | 62,275 |
Total current assets | 446,141 | 544,379 |
Property and equipment, net | 38,484 | 54,828 |
Deposits | 11,010 | 11,010 |
Total assets | 495,635 | 610,217 |
Current liabilities: | ||
Accounts payable | 118,131 | 75,607 |
Accrued expenses (Note 6) | 613,411 | 294,240 |
Total current liabilities | 731,542 | 369,847 |
Commitments (Note 7) | ||
Stockholders’ equity (deficiency): | ||
Common stock, $.001 par value: Authorized shares – 600,000,000 and 300,000,000 at September 30, 2017 and December 31, 2016, respectively Issued and outstanding shares – 70,913,900 and 55,235,233 at September 30, 2017 and December 31, 2016, respectively | 70,914 | 55,235 |
Additional paid-in capital | 35,155,343 | 34,914,963 |
Accumulated deficit | (37,400,607) | (35,746,628) |
Total stockholders’ equity (deficiency) | (235,907) | 240,370 |
Total liabilities and stockholders’ equity | 495,635 | 610,217 |
Series B Convertible Preferred Stock [Member] | ||
Stockholders’ equity (deficiency): | ||
Convertible Preferred Stock | 76,095 | 76,095 |
Series C Convertible Preferred Stock [Member] | ||
Stockholders’ equity (deficiency): | ||
Convertible Preferred Stock | 882,348 | 940,705 |
Series D Convertible Preferred Stock [Member] | ||
Stockholders’ equity (deficiency): | ||
Convertible Preferred Stock | $ 980,000 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2017 | Dec. 31, 2016 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares issued (in shares) | 70,913,900 | 55,235,233 |
Common stock, shares outstanding (in shares) | 70,913,900 | 55,235,233 |
Common stock, shares authorized (in shares) | 600,000,000 | 300,000,000 |
Series B Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, shares issued (in shares) | 100 | 100 |
Preferred stock, shares outstanding (in shares) | 100 | 100 |
Series C Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, shares issued (in shares) | 2,690 | 2,868 |
Preferred stock, shares outstanding (in shares) | 2,690 | 2,868 |
Series D Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, shares issued (in shares) | 1,000 | 0 |
Preferred stock, shares outstanding (in shares) | 1,000 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Grant and collaboration revenue | $ 247,994 | $ 440,106 | $ 895,866 | $ 653,986 |
Operating expenses: | ||||
Research and development | 498,200 | 683,939 | 1,568,093 | 1,519,519 |
General and administrative | 340,143 | 220,707 | 985,001 | 1,472,030 |
Total operating expenses | 838,343 | 904,646 | 2,553,094 | 2,991,549 |
Loss from operations | (590,349) | (464,540) | (1,657,228) | (2,337,563) |
Other income: | ||||
Interest income | 1,592 | 340 | 3,249 | 1,249 |
Total other income | 1,592 | 340 | 3,249 | 1,249 |
Net loss | $ (588,757) | $ (464,200) | $ (1,653,979) | $ (2,336,314) |
Basic and diluted: | ||||
Loss per common share (in dollars per share) | $ (0.01) | $ (0.01) | $ (0.03) | $ (0.06) |
Weighted averages shares outstanding (in shares) | 67,000,857 | 44,305,161 | 60,757,109 | 38,796,896 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash flows from operating activities: | ||
Net loss | $ (1,653,979) | $ (2,336,314) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 20,694 | 21,585 |
Stock-based compensation expense | 43,535 | 525,887 |
Changes in assets and liabilities: | ||
Grant funds receivable | (61,821) | 111,213 |
Prepaid expenses and other current assets | 49,855 | (25,648) |
Accounts payable and accrued expenses | 361,695 | 125,599 |
Total adjustments | 413,958 | 758,636 |
Net cash used in operating activities | (1,240,021) | (1,577,678) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (4,350) | |
Net cash used in investing activities | (4,350) | |
Cash flows from financing activities: | ||
Net proceeds from sale of preferred stock | 980,000 | |
Net proceeds from sale of common stock | 154,167 | 1,028,426 |
Net cash provided by financing activities | 1,134,167 | 1,028,426 |
Net decrease in cash and cash equivalents | (110,204) | (549,252) |
Cash and cash equivalents at beginning of period | 454,030 | 1,060,348 |
Cash and cash equivalents at end of period | $ 343,826 | $ 511,096 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - Series C Convertible Preferred Stock [Member] - shares | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Convertible preferred stock (in shares) | 178 | 132 |
Conversion of stock, shares issued (in shares) | 11,862,000 | 1,400,000 |
Note 1 - Description of Busines
Note 1 - Description of Business | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Description of Business GeoVax Labs, Inc. (“GeoVax” or the “Company”), is a clinical-stage biotechnology company developing human vaccines using our novel vaccine platform. Our current development programs are focused on preventive vaccines against Human Immunodeficiency Virus (HIV), Zika Virus, hemorrhagic fever viruses (Ebola, Sudan, Marburg, Lassa), and malaria, as well as therapeutic vaccines for chronic Hepatitis B infections and cancers. We believe our technology and vaccine development expertise are well-suited for a variety of human infectious diseases and we intend to pursue further expansion of our product pipeline. Certain of o ur vaccine development activities have been, and continue to be, financially supported by the U.S. government. This support has been both in the form of research grants and contracts awarded directly to us, as well as indirect support for the conduct of preclinical animal studies and human clinical trials. We operate in a highly regulated and competitive environment. The manufacturing and marketing of pharmaceutical products require approval from, and are subject to, ongoing oversight by the Food and Drug Administration (FDA) in the United States, by the European Medicines Agency (EMA) in the European Union, and by comparable agencies in other countries. Obtaining approval for a new pharmaceutical product is never certain, may one GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in Smyrna, Georgia (metropolitan Atlanta area). |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 2 . Basis of Presentation The accompanying condensed consolidated financial statements at September 30, 2017 three nine September 30, 2017 2016 not 10 December 31, 2016. not Our financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the twelve We believe that our existing cash resources and government funding commitments will be sufficient to continue our planned operations into the first 2018. not may not |
Note 3 - Significant Accounting
Note 3 - Significant Accounting Policies and Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 3 . Significant Accounting Policies and Recent Accounting Pronouncements We disclosed in Note 2 10 December 31, 2016 no 10 In March 2016, Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016 09, Improvements to Employee Share-Based Payment Accounting 2016 09” 718, 2016 09 2016 09 January 1, 2017; no In May 2017, 2017 09, Scope of Modification Accounting 2017 09” 718, 2017 09 1 2 718 2017 09 January 1, 2018. 2017 09 In July 2017, 2017 11, (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception 2017 11” 260, 480, 815, 2017 11 2017 11 January 1, 2019. 2017 11 T here have been no nine September 30, 2017, 10 December 31, 2016, |
Note 4 - Basic and Diluted Loss
Note 4 - Basic and Diluted Loss Per Common Share | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 4 . Basic and Diluted Loss Per Common Share Basic net loss per share is computed using the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed using the weighted-average number of common shares and potential ly dilutive common share equivalents outstanding during the period. Potentially dilutive common share equivalents consist of convertible preferred stock, stock options and stock purchase warrants. Common share equivalents which potentially could dilute basic earnings per share in the future, and which were excluded from the computation of diluted loss per share, as the effect would be anti-dilutive, totaled approximately 277.5 73.1 September 30, 2017 2016, |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5 . Property and Equipment Property and equipment as shown on the accompanying Condensed Consolidated Balance Sheets is composed of th e following as of September 30, 2017 December 31, 2016: September 30, 201 7 December 31, 201 6 Laboratory equipment $ 530,306 $ 525,956 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 28,685 28,685 Total property and equipment 674,596 670,246 Accumulated depreciation and amortization (636,112 ) (615,418 ) Property and equipment, net $ 38,484 $ 54,828 |
Note 6 - Accrued Expenses
Note 6 - Accrued Expenses | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 6 . Accrued Expenses Accrued expenses as shown on the accompanying Condensed Consolidated Balance Sheets is composed of the following as of September 30, 2017 December 31, 2016: September 30, 201 7 December 31, 201 6 Accrued management salaries $ 441,942 $ 201,170 Accrued directors ’ fees 156,469 78,070 Other accrued expenses 15,000 15,000 Total accrued expenses $ 613,411 $ 294,240 |
Note 7 - Commitments
Note 7 - Commitments | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | 7 . Commitments Lease Agreement We lease approximately 8 ,400 December 31, 2018, 12 September 30, 2017, $194,543, $37,998 2017 $156,545 2018. Other Commitments In the normal course of business, we may production and testing of our vaccine products, conduct of our clinical trials, and other research-related activities. As of September 30, 2017, $79,000 2017. 10 |
Note 8 - Stockholders' Equity
Note 8 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 8 . Stockholders’ Equity Series B Convertible Preferred Stock As of September 30, 2017, 100 may $0.35 285,714 During the nine September 30, 2017, no Series C Convertible Preferred Stock As of September 30, 2017, 2,690 may $0.015 179,349,733 In May 2017, $0.05 $0.015 nine September 30, 2017, 11,862,000 178 Series D Convertible Preferred Stock In May 2017, 1,000 $1,000 $1.0 $980,000 . Each share of Series D Preferred Stock is entitled to a liquidation preference equal to the initial purchase price, has no not $0.015 The Series D Preferred Shares contains price adjustment provisions, which may, We assessed the Series D Preferred Stock under ASC Topic 480, Distinguishing Liabilities from Equity 480” 815, Derivatives and Hedging 815” 470, Debt 470” 815 not 815. Increase in Authorized Shares of Common Stock At a special meeting of our stockholders held on August 4, 2017, 300,000,000 600,000,000 August 4, 2017. Common Stock Transactions As discussed above, d uring the nine September 30, 2017, 11,862,000 178 nine September 30, 2017, 3,816,667 $154,167. Stock Options The following table presents a summary of our stock option transactions during the nine September 30, 2017: Number of Shares Weighted Average Exercise Price Ou tstanding at December 31, 2016 3,499,475 $ 1.21 Granted -- -- Exercised -- -- Forfeited or expired (115,200 ) 17.75 Outstanding at September 30, 2017 3,384,275 $ 0.64 Exercisable at September 30, 2017 1,140,494 $ 1.76 Stock Purchase Warrants The following table presents a summary of stock purchase warrant transactions during t he nine September 30, 2017: Number of Shares Weighted Average Exercise Price Ou tstanding at December 31, 2016 32,751,578 $ 0.07 Granted -- -- Exercised (3,816,667 ) 0.04 Forfeited or expired (1,112,001 ) 0.57 Outstanding at September 30, 2017 27,822,910 $ 0.02 Exercisable at September 30, 2017 27,822,910 $ 0.02 Stock-Based Compensation Expense Stock-based compensation expense related to our stock option plans was $14,433 $43,535 three nine September 30, 2017, $13,686 $41,058 three nine September 30, 2016, three nine September 30, 2016, $15,030 $484,829, Stock-based compensation expense for stock options is recognized on a straight-line basis over the requisite service period for the award and is allocated to research and development expense or general and administrative expense based upon the related employee classification. As of September 30, 2017, $88,449 1.9 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 9 . Income Taxes Because of our historically significant net operating losses, we have not income taxes since inception. We maintain deferred tax assets that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. These deferred tax assets are comprised primarily of net operating loss carryforwards and also include amounts relating to nonqualified stock options and research and development credits. The net deferred tax asset has been fully offset by a valuation allowance because of the uncertainty of our future profitability and our ability to utilize the deferred tax assets. Utilization of operating losses and credits will be subject to substantial annual limitations due to ownership change provisions of Section 382 |
Note 10 - Grants and Collaborat
Note 10 - Grants and Collaboration Revenue | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Government Grants and Contracts [Text Block] | 10 . Grants and Collaboration Revenue Government Grants and Contracts We receive payments from government entities under our grants and contrac ts with the National Institute of Allergy and Infectious Diseases in support of certain of our vaccine research and development efforts. We record revenue associated with government grants and contracts as the reimbursable costs are incurred. During the three nine September 30, 2017, $247,994 $800,866, $440,106 $653,986, 2016. September 30, 2017, $744,769 Collaboration Revenue In March 2017, 1 tional cure for HIV infection. In connection with the agreement, during the second 2017 $95,000, nine September 30, 2017. |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 11 . Subsequent Events During October 2017, 8,000,000 120 October November 2017 5,000,000 $75,000. |
Note 5 - Property and Equipme18
Note 5 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, 201 7 December 31, 201 6 Laboratory equipment $ 530,306 $ 525,956 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 28,685 28,685 Total property and equipment 674,596 670,246 Accumulated depreciation and amortization (636,112 ) (615,418 ) Property and equipment, net $ 38,484 $ 54,828 |
Note 6 - Accrued Expenses (Tabl
Note 6 - Accrued Expenses (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | September 30, 201 7 December 31, 201 6 Accrued management salaries $ 441,942 $ 201,170 Accrued directors ’ fees 156,469 78,070 Other accrued expenses 15,000 15,000 Total accrued expenses $ 613,411 $ 294,240 |
Note 8 - Stockholders' Equity (
Note 8 - Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Share-based Compensation, Activity [Table Text Block] | Number of Shares Weighted Average Exercise Price Ou tstanding at December 31, 2016 3,499,475 $ 1.21 Granted -- -- Exercised -- -- Forfeited or expired (115,200 ) 17.75 Outstanding at September 30, 2017 3,384,275 $ 0.64 Exercisable at September 30, 2017 1,140,494 $ 1.76 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Shares Weighted Average Exercise Price Ou tstanding at December 31, 2016 32,751,578 $ 0.07 Granted -- -- Exercised (3,816,667 ) 0.04 Forfeited or expired (1,112,001 ) 0.57 Outstanding at September 30, 2017 27,822,910 $ 0.02 Exercisable at September 30, 2017 27,822,910 $ 0.02 |
Note 4 - Basic and Diluted Lo21
Note 4 - Basic and Diluted Loss Per Common Share (Details Textual) - shares shares in Millions | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 277.5 | 73.1 |
Note 5 - Property and Equipme22
Note 5 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Property and equipment, gross | $ 674,596 | $ 670,246 |
Accumulated depreciation and amortization | (636,112) | (615,418) |
Property and equipment, net | 38,484 | 54,828 |
Laboratory Equipment [Member] | ||
Property and equipment, gross | 530,306 | 525,956 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 115,605 | 115,605 |
Other Furniture Fixtures And Equipment [Member] | ||
Property and equipment, gross | $ 28,685 | $ 28,685 |
Note 6 - Accrued Expenses - Sch
Note 6 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Accrued management salaries | $ 441,942 | $ 201,170 |
Accrued directors’ fees | 156,469 | 78,070 |
Other accrued expenses | 15,000 | 15,000 |
Total accrued expenses | $ 613,411 | $ 294,240 |
Note 7 - Commitments (Details T
Note 7 - Commitments (Details Textual) | 9 Months Ended |
Sep. 30, 2017USD ($)ft² | |
Area of Real Estate Property | ft² | 8,400 |
Lessee, Operating Lease, Renewal Term | 1 year |
Operating Leases, Future Minimum Payments Due | $ 194,543 |
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year | 37,998 |
Operating Leases, Future Minimum Payments, Due in Two Years | 156,545 |
Unrecorded Unconditional Purchase Obligation | $ 79,000 |
Note 8 - Stockholders' Equity25
Note 8 - Stockholders' Equity (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||||
May 31, 2017 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Aug. 04, 2017 | Aug. 03, 2017 | May 01, 2017 | Apr. 30, 2017 | Dec. 31, 2016 | |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | |||||||
Proceeds from Issuance of Convertible Preferred Stock | $ 980,000 | |||||||||
Common Stock, Shares Authorized | 600,000,000 | 600,000,000 | 600,000,000 | 300,000,000 | 300,000,000 | |||||
Stock Issued During Period, Shares, Warrants Exercised | 3,816,667 | |||||||||
Proceeds from Warrant Exercises | $ 154,167 | |||||||||
Employee Stock Option [Member] | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 88,449 | $ 88,449 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 328 days | |||||||||
Warrant [Member] | ||||||||||
Allocated Share-based Compensation Expense | $ 15,030 | 484,829 | ||||||||
2006 Equity Incentive Plan [Member] | ||||||||||
Allocated Share-based Compensation Expense | $ 14,433 | $ 13,686 | $ 43,535 | $ 41,058 | ||||||
Conversion of Series C Preferred Stock Into Common Stock [Member] | ||||||||||
Conversion of Stock, Shares Converted | 178 | |||||||||
Stock Issued During Period, Shares, New Issues | 11,862,000 | |||||||||
Series B Convertible Preferred Stock [Member] | ||||||||||
Preferred Stock, Shares Outstanding | 100 | 100 | 100 | |||||||
Convertible Preferred Stock, Conversion Price1 | $ 0.35 | $ 0.35 | ||||||||
Convertible Preferred Stock, Total Conversion Shares | 285,714 | 285,714 | ||||||||
Conversion of Stock, Shares Converted | 0 | |||||||||
Preferred Stock, Par or Stated Value Per Share | $ 1,000 | $ 1,000 | $ 1,000 | |||||||
Series C Convertible Preferred Stock [Member] | ||||||||||
Preferred Stock, Shares Outstanding | 2,690 | 2,690 | 2,868 | |||||||
Convertible Preferred Stock, Conversion Price1 | $ 0.015 | $ 0.015 | $ 0.015 | $ 0.05 | ||||||
Convertible Preferred Stock, Total Conversion Shares | 179,349,733 | 179,349,733 | ||||||||
Conversion of Stock, Shares Converted | 178 | 132 | ||||||||
Preferred Stock, Par or Stated Value Per Share | $ 1,000 | $ 1,000 | $ 1,000 | |||||||
Series D Convertible Preferred Stock [Member] | ||||||||||
Preferred Stock, Shares Outstanding | 1,000 | 1,000 | 0 | |||||||
Convertible Preferred Stock, Conversion Price1 | $ 0.015 | |||||||||
Stock Issued During Period, Shares, New Issues | 1,000 | |||||||||
Preferred Stock, Par or Stated Value Per Share | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | ||||||
Proceeds from Issuance of Convertible Preferred Stock, Gross | $ 1,000,000 | |||||||||
Proceeds from Issuance of Convertible Preferred Stock | $ 980,000 |
Note 8 - Stockholders' Equity -
Note 8 - Stockholders' Equity - Activity of Stock Option Plan (Details) | 9 Months Ended |
Sep. 30, 2017$ / sharesshares | |
Outstanding, options (in shares) | shares | 3,499,475 |
Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares | $ 1.21 |
Granted, options (in shares) | shares | |
Granted, weighted average exercise price, options (in dollars per share) | $ / shares | |
Forfeited or expired, options (in shares) | shares | (115,200) |
Forfeited or expired, weighted average exercise price, options (in dollars per share) | $ / shares | $ 17.75 |
Outstanding, options (in shares) | shares | 3,384,275 |
Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares | $ 0.64 |
Exercisable, options (in shares) | shares | 1,140,494 |
Exercisable, weighted average exercise price, options (in dollars per share) | $ / shares | $ 1.76 |
Note 8 - Stockholders' Equity27
Note 8 - Stockholders' Equity - Outstanding Stock Purchase Warrants (Details) | 9 Months Ended |
Sep. 30, 2017$ / sharesshares | |
Outstanding (in shares) | shares | 32,751,578 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 0.07 |
Exercised (in shares) | shares | (3,816,667) |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 0.04 |
Forfeited or expired (in shares) | shares | (1,112,001) |
Forfeited or expired, weighted average exercise price (in dollars per share) | $ / shares | $ 0.57 |
Outstanding (in shares) | shares | 27,822,910 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 0.02 |
Exercisable (in shares) | shares | 27,822,910 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 0.02 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) $ in Thousands | 195 Months Ended |
Sep. 30, 2017USD ($) | |
Income Tax Expense (Benefit) | $ 0 |
Note 10 - Grants and Collabor29
Note 10 - Grants and Collaboration Revenue (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Revenue from Grants | $ 247,994 | $ 440,106 | $ 895,866 | $ 653,986 |
Revenue from Collaboration | 95,000 | |||
NIH Grants [Member] | ||||
Revenue from Grants | 247,994 | $ 440,106 | 800,866 | $ 653,986 |
Unused Grant Funds | $ 744,769 | $ 744,769 |
Note 11 - Subsequent Events (De
Note 11 - Subsequent Events (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended | |
Nov. 09, 2017 | Oct. 31, 2017 | Sep. 30, 2017 | |
Stock Issued During Period, Shares, Warrants Exercised | 3,816,667 | ||
Proceeds from Warrant Exercises | $ 154,167 | ||
Subsequent Event [Member] | |||
Stock Issued During Period, Shares, Warrants Exercised | 5,000,000 | ||
Proceeds from Warrant Exercises | $ 75,000 | ||
Conversion of Series C Preferred Stock Into Common Stock [Member] | |||
Stock Issued During Period, Shares, New Issues | 11,862,000 | ||
Conversion of Stock, Shares Converted | 178 | ||
Conversion of Series C Preferred Stock Into Common Stock [Member] | Subsequent Event [Member] | |||
Stock Issued During Period, Shares, New Issues | 8,000,000 | ||
Conversion of Stock, Shares Converted | 120 |