Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2021 | |
Document Information [Line Items] | |
Entity Central Index Key | 0000832489 |
Entity Registrant Name | GeoVax Labs, Inc. |
Amendment Flag | false |
Document Fiscal Period Focus | Q3 |
Document Fiscal Year Focus | 2021 |
Document Type | S-1 |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 87-0455038 |
Entity Address, Address Line One | 1900 Lake Park Drive, Suite 380 |
Entity Address, City or Town | Smyrna |
Entity Address, State or Province | GA |
Entity Address, Postal Zip Code | 30080 |
City Area Code | 678 |
Local Phone Number | 384-7220 |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | |||||||||
Cash and cash equivalents | $ 18,107,019 | $ 9,883,796 | $ 283,341 | ||||||
Grant funds and other receivables | 0 | 182,663 | 68,603 | ||||||
Prepaid expenses and other current assets | 52,818 | 168,689 | 95,320 | ||||||
Total current assets | 18,159,837 | 10,235,148 | 447,264 | ||||||
Property and equipment, net (Note 3) | 168,653 | 147,741 | 10,606 | ||||||
Deposits | 11,010 | 11,010 | 11,010 | ||||||
Total assets | 18,339,500 | 10,393,899 | 468,880 | ||||||
Current liabilities: | |||||||||
Accounts payable | 289,438 | 267,702 | 152,653 | ||||||
Accrued expenses (Note 4) | 46,212 | 359,281 | 1,851,040 | ||||||
Current portion of notes payable | 0 | 183,326 | 12,500 | ||||||
Total current liabilities | 335,650 | 810,309 | 2,016,193 | ||||||
Note payable, net of current portion | 0 | 14,738 | 27,243 | ||||||
Total liabilities | 335,650 | 825,047 | 2,043,436 | ||||||
Commitments (Note 7) | |||||||||
Stockholders’ equity (deficiency): | |||||||||
Preferred stock, $.01 par value (Note 8): Authorized shares – 10,000,000 Issued and outstanding shares – 100 and 2,486 at December 31, 2020 and 2019, respectively | 0 | 76,095 | 1,932,433 | ||||||
Common stock, $.001 par value: Authorized shares – 600,000,000 Issued and outstanding shares – 3,834,095 and 14,992 at December 31, 2020 and 2019, respectively | 6,382 | 3,834 | 15 | ||||||
Additional paid-in capital | 68,630,363 | 55,294,504 | 39,340,509 | ||||||
Accumulated deficit | (50,632,895) | (45,805,581) | (42,847,513) | ||||||
Total stockholders’ equity (deficiency) | 18,003,850 | $ 19,458,338 | $ 20,651,340 | 9,568,852 | $ 10,813,744 | $ (1,849,621) | $ (1,864,250) | (1,574,556) | $ (1,022,347) |
Total liabilities and stockholders’ equity (deficiency) | $ 18,339,500 | $ 10,393,899 | $ 468,880 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 | |
Preferred stock, shares issued (in shares) | 100 | 2,486 | |
Preferred stock, shares outstanding (in shares) | 100 | 2,486 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 600,000,000 | 600,000,000 | 600,000,000 |
Common stock, issued (in shares) | 6,381,541 | 3,834,095 | 14,992 |
Common stock, outstanding (in shares) | 6,381,541 | 3,834,095 | 14,992 |
Series B Convertible Preferred Stock [Member] | |||
Preferred stock, par value (in dollars per share) | $ 1,000 | $ 1,000 | |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 | |
Preferred stock, shares issued (in shares) | 0 | 100 | |
Preferred stock, shares outstanding (in shares) | 0 | 100 | 100 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Grant and collaboration revenue | $ 30,414 | $ 415,458 | $ 220,539 | $ 1,572,037 | $ 1,823,658 | $ 1,175,896 | ||||
Operating expenses: | ||||||||||
Research and development | 1,224,362 | 416,756 | 2,659,980 | 1,687,113 | 2,444,459 | 1,910,715 | ||||
General and administrative | 757,432 | 435,013 | 2,562,641 | 1,364,650 | 2,196,014 | 1,637,674 | ||||
Total operating expenses | 1,981,794 | 851,769 | 5,222,621 | 3,051,763 | 4,640,473 | 3,548,389 | ||||
Loss from operations | (1,951,380) | (436,311) | (5,002,082) | (1,479,726) | (2,816,815) | (2,372,493) | ||||
Other income (expense): | ||||||||||
Interest income | 877 | 90 | 3,998 | 902 | 2,271 | 6,359 | ||||
Interest expense | 0 | (134,427) | (1,286) | (142,722) | (143,524) | (4,495) | ||||
Gain on debt extinguishment | 0 | 0 | 172,056 | 0 | ||||||
Total other income (expense) | 877 | (134,337) | 174,768 | (141,820) | (141,253) | 1,864 | ||||
Net loss | $ (1,950,503) | $ (1,314,033) | $ (1,562,778) | $ (570,648) | $ (455,204) | $ (595,694) | $ (4,827,314) | $ (1,621,546) | $ (2,958,068) | $ (2,370,629) |
Basic and diluted: | ||||||||||
Net loss per common share (in dollars per share) | $ (0.31) | $ (0.73) | $ (0.80) | $ (2.85) | $ (2.14) | $ (781.87) | ||||
Weighted average shares outstanding (in shares) | 6,349,297 | 782,978 | 6,005,032 | 569,955 | 1,383,829 | 3,032 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficiency) (Unaudited) - USD ($) | Warrants Issued in Bridge Financing [Member]Preferred Stock [Member] | Warrants Issued in Bridge Financing [Member]Common Stock [Member] | Warrants Issued in Bridge Financing [Member]Additional Paid-in Capital [Member] | Warrants Issued in Bridge Financing [Member]Retained Earnings [Member] | Warrants Issued in Bridge Financing [Member] | Warrant Issued for Technology License[Member]Preferred Stock [Member] | Warrant Issued for Technology License[Member]Common Stock [Member] | Warrant Issued for Technology License[Member]Additional Paid-in Capital [Member] | Warrant Issued for Technology License[Member]Retained Earnings [Member] | Warrant Issued for Technology License[Member] | Conversion from Convertible Debentures to Conversion Units [Member]Preferred Stock [Member] | Conversion from Convertible Debentures to Conversion Units [Member]Common Stock [Member] | Conversion from Convertible Debentures to Conversion Units [Member]Additional Paid-in Capital [Member] | Conversion from Convertible Debentures to Conversion Units [Member]Retained Earnings [Member] | Conversion from Convertible Debentures to Conversion Units [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 3,450 | 11 | ||||||||||||||||||
Balance at Dec. 31, 2018 | $ 1,971,333 | $ 0 | $ 37,483,204 | $ (40,476,884) | $ (1,022,347) | |||||||||||||||
Issuance of common stock for services (in shares) | 0 | 162 | 162 | |||||||||||||||||
Issuance of common stock for services | $ 0 | $ 0 | 24,000 | 0 | $ 24,000 | |||||||||||||||
Stock option expense | 0 | 0 | 104,420 | 0 | 104,420 | |||||||||||||||
Net loss | $ 0 | $ 0 | 0 | (2,370,629) | (2,370,629) | |||||||||||||||
Sale of convertible preferred stock for cash and cancellation of note payable (in shares) | 1,700 | 0 | ||||||||||||||||||
Sale of convertible preferred stock for cash and cancellation of note payable | $ 1,542,950 | $ 0 | 147,050 | 0 | 1,690,000 | |||||||||||||||
Conversion of preferred stock to common stock (in shares) | (2,664) | 14,819 | ||||||||||||||||||
Conversion of preferred stock to common stock | $ (1,581,850) | $ 15 | 1,581,835 | 0 | 0 | |||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 2,486 | 14,992 | ||||||||||||||||||
Balance at Dec. 31, 2019 | $ 1,932,433 | $ 15 | 39,340,509 | (42,847,513) | (1,574,556) | |||||||||||||||
Issuance of common stock for services (in shares) | 0 | 521 | ||||||||||||||||||
Issuance of common stock for services | $ 0 | $ 1 | 5,999 | 0 | 6,000 | |||||||||||||||
Net loss | (595,694) | (595,694) | ||||||||||||||||||
Sale of convertible preferred stock for cash and cancellation of note payable (in shares) | 300 | |||||||||||||||||||
Sale of convertible preferred stock for cash and cancellation of note payable | $ 300,000 | 300,000 | ||||||||||||||||||
Conversion of preferred stock to common stock (in shares) | (2,386) | 674,067 | ||||||||||||||||||
Conversion of preferred stock to common stock | $ (1,856,338) | $ 674 | 1,855,664 | |||||||||||||||||
Balance (in shares) at Mar. 31, 2020 | 400 | 689,580 | ||||||||||||||||||
Balance at Mar. 31, 2020 | $ 376,095 | $ 690 | 41,202,172 | (43,443,207) | (1,864,250) | |||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 2,486 | 14,992 | ||||||||||||||||||
Balance at Dec. 31, 2019 | $ 1,932,433 | $ 15 | 39,340,509 | (42,847,513) | (1,574,556) | |||||||||||||||
Net loss | (1,621,546) | |||||||||||||||||||
Balance (in shares) at Sep. 30, 2020 | 100 | 3,559,473 | ||||||||||||||||||
Balance at Sep. 30, 2020 | $ 76,095 | $ 3,559 | 55,203,149 | (44,469,059) | 10,813,744 | |||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 2,486 | 14,992 | ||||||||||||||||||
Balance at Dec. 31, 2019 | $ 1,932,433 | $ 15 | 39,340,509 | (42,847,513) | (1,574,556) | |||||||||||||||
Sale of common stock for cash (in shares) | 0 | 2,310,000 | ||||||||||||||||||
Sale of common stock for cash | $ 0 | $ 2,310 | 11,156,186 | 0 | $ 11,158,496 | |||||||||||||||
Common stock issued (in shares) | 0 | 286,902 | 36,902 | |||||||||||||||||
Issuance of common stock upon warrant exercise | $ 0 | $ 287 | 2,213 | 0 | $ 2,500 | |||||||||||||||
Issuance of common stock for services (in shares) | 0 | 26,581 | 26,581 | |||||||||||||||||
Issuance of common stock for services | $ 0 | $ 27 | 94,373 | 0 | $ 94,400 | |||||||||||||||
Stock option expense | 0 | 0 | 18,730 | 0 | 18,730 | |||||||||||||||
Net loss | 0 | 0 | 0 | (2,958,068) | (2,958,068) | |||||||||||||||
Warrants issued in bridge financing | $ 0 | $ 0 | 457,833 | 0 | 457,833 | |||||||||||||||
Sale of convertible preferred stock for cash and cancellation of note payable (in shares) | 300 | 0 | ||||||||||||||||||
Sale of convertible preferred stock for cash and cancellation of note payable | $ 300,000 | $ 0 | 0 | 0 | 300,000 | |||||||||||||||
Conversion of preferred stock to common stock (in shares) | (2,686) | 716,790 | ||||||||||||||||||
Conversion of preferred stock to common stock | $ (2,156,338) | $ 717 | 2,155,621 | 0 | 0 | |||||||||||||||
Common stock issued for cancellation of accrued compensation (in shares) | 0 | 300,001 | ||||||||||||||||||
Issuance of common stock upon cancellation of accrued compensation | $ 0 | $ 300 | 1,499,700 | 0 | 1,500,000 | |||||||||||||||
Balance (in shares) at Dec. 31, 2020 | 100 | 3,834,095 | ||||||||||||||||||
Balance at Dec. 31, 2020 | $ 76,095 | $ 3,834 | 55,294,504 | (45,805,581) | 9,568,852 | |||||||||||||||
Balance (in shares) at Mar. 31, 2020 | 400 | 689,580 | ||||||||||||||||||
Balance at Mar. 31, 2020 | $ 376,095 | $ 690 | 41,202,172 | (43,443,207) | (1,864,250) | |||||||||||||||
Issuance of common stock for services (in shares) | 0 | 2,124 | ||||||||||||||||||
Issuance of common stock for services | $ 0 | $ 2 | 11,998 | 0 | 12,000 | |||||||||||||||
Net loss | $ 0 | $ 0 | 0 | (455,204) | (455,204) | |||||||||||||||
Warrants issued in bridge financing | $ 0 | $ 0 | $ 457,833 | $ 0 | $ 457,833 | |||||||||||||||
Balance (in shares) at Jun. 30, 2020 | 400 | 691,704 | ||||||||||||||||||
Balance at Jun. 30, 2020 | $ 376,095 | $ 692 | 41,672,003 | (43,898,411) | (1,849,621) | |||||||||||||||
Sale of common stock for cash (in shares) | 0 | 2,310,000 | ||||||||||||||||||
Sale of common stock for cash | $ 0 | $ 2,310 | 11,156,186 | 0 | 11,158,496 | |||||||||||||||
Common stock issued (in shares) | 0 | 36,902 | ||||||||||||||||||
Issuance of common stock for services (in shares) | 0 | 517 | ||||||||||||||||||
Issuance of common stock for services | $ 0 | $ 0 | 6,000 | 0 | 6,000 | |||||||||||||||
Net loss | $ 0 | $ 0 | 0 | (570,648) | (570,648) | |||||||||||||||
Conversion of preferred stock to common stock (in shares) | 0 | 177,626 | (300) | 42,723 | ||||||||||||||||
Conversion of preferred stock to common stock | $ 0 | $ 177 | $ 569,340 | $ 0 | $ 569,517 | $ (300,000) | $ 43 | 299,957 | 0 | 0 | ||||||||||
Warrants exercised for common stock | $ 0 | $ 37 | (37) | 0 | 0 | |||||||||||||||
Common stock issued for cancellation of accrued compensation (in shares) | 0 | 300,001 | ||||||||||||||||||
Issuance of common stock upon cancellation of accrued compensation | $ 0 | $ 300 | 1,499,700 | 0 | 1,500,000 | |||||||||||||||
Balance (in shares) at Sep. 30, 2020 | 100 | 3,559,473 | ||||||||||||||||||
Balance at Sep. 30, 2020 | $ 76,095 | $ 3,559 | 55,203,149 | (44,469,059) | 10,813,744 | |||||||||||||||
Balance (in shares) at Dec. 31, 2020 | 100 | 3,834,095 | ||||||||||||||||||
Balance at Dec. 31, 2020 | $ 76,095 | $ 3,834 | 55,294,504 | (45,805,581) | 9,568,852 | |||||||||||||||
Sale of common stock for cash (in shares) | 0 | 1,644,000 | ||||||||||||||||||
Sale of common stock for cash | $ 0 | $ 1,644 | 9,407,276 | 0 | 9,408,920 | |||||||||||||||
Common stock issued (in shares) | 0 | 835,900 | ||||||||||||||||||
Issuance of common stock upon warrant exercise | $ 0 | $ 836 | 3,173,320 | 0 | 3,174,156 | |||||||||||||||
Issuance of common stock for services (in shares) | 0 | 1,472 | ||||||||||||||||||
Issuance of common stock for services | $ 0 | $ 1 | 5,999 | 0 | 6,000 | |||||||||||||||
Stock option expense | 56,190 | 56,190 | ||||||||||||||||||
Net loss | (1,562,778) | (1,562,778) | ||||||||||||||||||
Balance (in shares) at Mar. 31, 2021 | 100 | 6,315,467 | ||||||||||||||||||
Balance at Mar. 31, 2021 | $ 76,095 | $ 6,315 | 67,937,289 | (47,368,359) | 20,651,340 | |||||||||||||||
Balance (in shares) at Dec. 31, 2020 | 100 | 3,834,095 | ||||||||||||||||||
Balance at Dec. 31, 2020 | $ 76,095 | $ 3,834 | 55,294,504 | (45,805,581) | $ 9,568,852 | |||||||||||||||
Issuance of common stock for services (in shares) | 13,707 | |||||||||||||||||||
Net loss | $ (4,827,314) | |||||||||||||||||||
Balance (in shares) at Sep. 30, 2021 | 0 | 6,381,541 | ||||||||||||||||||
Balance at Sep. 30, 2021 | $ 0 | $ 6,382 | 68,630,363 | (50,632,895) | 18,003,850 | |||||||||||||||
Balance (in shares) at Mar. 31, 2021 | 100 | 6,315,467 | ||||||||||||||||||
Balance at Mar. 31, 2021 | $ 76,095 | $ 6,315 | 67,937,289 | (47,368,359) | 20,651,340 | |||||||||||||||
Issuance of common stock for services (in shares) | 0 | 12,235 | ||||||||||||||||||
Issuance of common stock for services | $ 0 | $ 13 | 65,828 | 0 | 65,841 | |||||||||||||||
Stock option expense | 0 | 0 | 56,190 | 0 | 56,190 | |||||||||||||||
Net loss | $ 0 | $ 0 | 0 | (1,314,033) | (1,314,033) | |||||||||||||||
Repurchase of preferred stock (in shares) | (100) | 0 | ||||||||||||||||||
Repurchase of preferred stock | $ (76,095) | $ 0 | 75,095 | 0 | (1,000) | |||||||||||||||
Balance (in shares) at Jun. 30, 2021 | 0 | 6,327,702 | ||||||||||||||||||
Balance at Jun. 30, 2021 | $ 0 | $ 6,328 | 68,134,402 | (48,682,392) | 19,458,338 | |||||||||||||||
Common stock issued (in shares) | 0 | 53,839 | ||||||||||||||||||
Issuance of common stock upon warrant exercise | $ 0 | $ 54 | 229,946 | 0 | 230,000 | |||||||||||||||
Stock option expense | 0 | 0 | 56,190 | 0 | 56,190 | |||||||||||||||
Net loss | $ 0 | $ 0 | 0 | (1,950,503) | (1,950,503) | |||||||||||||||
Warrants issued in bridge financing | $ 0 | $ 0 | $ 209,825 | $ 0 | $ 209,825 | |||||||||||||||
Balance (in shares) at Sep. 30, 2021 | 0 | 6,381,541 | ||||||||||||||||||
Balance at Sep. 30, 2021 | $ 0 | $ 6,382 | $ 68,630,363 | $ (50,632,895) | $ 18,003,850 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (4,827,314) | $ (1,621,546) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 26,806 | 2,983 |
Warrant issued for technology license fee | 209,825 | 0 |
Gain on debt extinguishment | (172,056) | 0 |
Changes in assets and liabilities: | ||
Grant funds and other receivables | 182,663 | (72,551) |
Prepaid expenses and other current assets | 106,979 | 82,274 |
Amortization of debt discount | 0 | 124,185 |
Accounts payable and accrued expenses | (289,477) | 252,036 |
Total adjustments | 314,043 | 412,927 |
Net cash used in operating activities | (4,513,271) | (1,208,619) |
Cash flows from investing activities | ||
Purchase of property and equipment | (47,718) | (2,470) |
Net cash used in investing activities | (47,718) | (2,470) |
Cash flows from financing activities: | ||
Net proceeds from sale of common stock and warrants | 9,408,920 | 11,158,496 |
Net proceeds from sale of preferred stock | 0 | 300,000 |
Net proceeds from warrant exercises | 3,404,156 | 0 |
Net proceeds from bridge financing | 0 | 888,500 |
Net proceeds from issuance of note payable | 0 | 170,200 |
Repurchase of preferred stock | (1,000) | 0 |
Principal repayment of note payable | (27,864) | (8,854) |
Net cash provided by financing activities | 12,784,212 | 12,508,342 |
Net increase in cash and cash equivalents | 8,223,223 | 11,297,253 |
Cash and cash equivalents at beginning of period | 9,883,796 | 283,341 |
Cash and cash equivalents at end of period | 18,107,019 | 11,580,594 |
Employees and Directors [Member] | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation | 168,570 | 0 |
Consultants [Member] | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation | $ 80,733 | $ 24,000 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) | Sep. 29, 2020 | Aug. 31, 2021 | Feb. 28, 2021 | Dec. 31, 2020 |
Common stock issued (in shares) | 36,902 | |||
Common stock issued for cancellation of accrued compensation (in shares) | 300,001 | |||
Deferred compensation | $ 1,500,000 | |||
Conversion from Convertible Debentures to Conversion Units [Member] | ||||
Shares issued upon conversion (in shares) | 303,668 | |||
Convertible debentures | $ 1,200,000 | |||
Related accrued interest | $ 14,667 | |||
Stock Purchase Warrants First Issuance [Member] | ||||
Common stock issued (in shares) | 3,839 | 145,866 | ||
Pre-Funded Warrants [Member] | Conversion from Convertible Debentures to Conversion Units [Member] | ||||
Pre-funded stock purchase warrants (in shares) | 126,042 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | |||||||||
Cash and cash equivalents | $ 18,107,019 | $ 9,883,796 | $ 283,341 | ||||||
Grant funds and other receivables | 0 | 182,663 | 68,603 | ||||||
Prepaid expenses and other current assets | 52,818 | 168,689 | 95,320 | ||||||
Total current assets | 18,159,837 | 10,235,148 | 447,264 | ||||||
Property and equipment, net (Note 3) | 168,653 | 147,741 | 10,606 | ||||||
Deposits | 11,010 | 11,010 | 11,010 | ||||||
Total assets | 18,339,500 | 10,393,899 | 468,880 | ||||||
Current liabilities: | |||||||||
Accounts payable | 289,438 | 267,702 | 152,653 | ||||||
Accrued expenses (Note 4) | 46,212 | 359,281 | 1,851,040 | ||||||
Current portion of notes payable | 0 | 183,326 | 12,500 | ||||||
Total current liabilities | 335,650 | 810,309 | 2,016,193 | ||||||
Note payable, net of current portion | 0 | 14,738 | 27,243 | ||||||
Total liabilities | 335,650 | 825,047 | 2,043,436 | ||||||
Commitments (Note 7) | |||||||||
Stockholders’ equity (deficiency): | |||||||||
Preferred stock, $.01 par value (Note 8): Authorized shares – 10,000,000 Issued and outstanding shares – 100 and 2,486 at December 31, 2020 and 2019, respectively | 0 | 76,095 | 1,932,433 | ||||||
Common stock, $.001 par value: Authorized shares – 600,000,000 Issued and outstanding shares – 3,834,095 and 14,992 at December 31, 2020 and 2019, respectively | 6,382 | 3,834 | 15 | ||||||
Additional paid-in capital | 68,630,363 | 55,294,504 | 39,340,509 | ||||||
Accumulated deficit | (50,632,895) | (45,805,581) | (42,847,513) | ||||||
Total stockholders’ equity (deficiency) | 18,003,850 | $ 19,458,338 | $ 20,651,340 | 9,568,852 | $ 10,813,744 | $ (1,849,621) | $ (1,864,250) | (1,574,556) | $ (1,022,347) |
Total liabilities and stockholders’ equity (deficiency) | $ 18,339,500 | $ 10,393,899 | $ 468,880 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 | |
Preferred stock, shares issued (in shares) | 100 | 2,486 | |
Preferred stock, shares outstanding (in shares) | 100 | 2,486 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 600,000,000 | 600,000,000 | 600,000,000 |
Common stock, issued (in shares) | 6,381,541 | 3,834,095 | 14,992 |
Common stock, outstanding (in shares) | 6,381,541 | 3,834,095 | 14,992 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Grant and collaboration revenue | $ 30,414 | $ 415,458 | $ 220,539 | $ 1,572,037 | $ 1,823,658 | $ 1,175,896 | ||||
Operating expenses: | ||||||||||
Research and development | 1,224,362 | 416,756 | 2,659,980 | 1,687,113 | 2,444,459 | 1,910,715 | ||||
General and administrative | 757,432 | 435,013 | 2,562,641 | 1,364,650 | 2,196,014 | 1,637,674 | ||||
Total operating expenses | 1,981,794 | 851,769 | 5,222,621 | 3,051,763 | 4,640,473 | 3,548,389 | ||||
Loss from operations | (1,951,380) | (436,311) | (5,002,082) | (1,479,726) | (2,816,815) | (2,372,493) | ||||
Other income (expense): | ||||||||||
Interest income | 877 | 90 | 3,998 | 902 | 2,271 | 6,359 | ||||
Interest expense | 0 | (134,427) | (1,286) | (142,722) | (143,524) | (4,495) | ||||
Total other income (expense) | 877 | (134,337) | 174,768 | (141,820) | (141,253) | 1,864 | ||||
Net loss | $ (1,950,503) | $ (1,314,033) | $ (1,562,778) | $ (570,648) | $ (455,204) | $ (595,694) | $ (4,827,314) | $ (1,621,546) | $ (2,958,068) | $ (2,370,629) |
Basic and diluted: | ||||||||||
Net loss per common share (in dollars per share) | $ (0.31) | $ (0.73) | $ (0.80) | $ (2.85) | $ (2.14) | $ (781.87) | ||||
Weighted average shares outstanding (in shares) | 6,349,297 | 782,978 | 6,005,032 | 569,955 | 1,383,829 | 3,032 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Deficiency) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 3,450 | 11 | |||
Balance at Dec. 31, 2018 | $ 1,971,333 | $ 0 | $ 37,483,204 | $ (40,476,884) | $ (1,022,347) |
Sale of convertible preferred stock for cash and cancellation of note payable (in shares) | 1,700 | 0 | |||
Sale of convertible preferred stock for cash and cancellation of note payable | $ 1,542,950 | $ 0 | 147,050 | 0 | 1,690,000 |
Conversion of preferred stock to common stock (in shares) | (2,664) | 14,819 | |||
Conversion of preferred stock to common stock | $ (1,581,850) | $ 15 | 1,581,835 | 0 | $ 0 |
Issuance of common stock for services (in shares) | 0 | 162 | 162 | ||
Issuance of common stock for services | $ 0 | $ 0 | 24,000 | 0 | $ 24,000 |
Stock option expense | 0 | 0 | 104,420 | 0 | 104,420 |
Net loss | $ 0 | $ 0 | 0 | (2,370,629) | (2,370,629) |
Balance (in shares) at Dec. 31, 2019 | 2,486 | 14,992 | |||
Balance at Dec. 31, 2019 | $ 1,932,433 | $ 15 | 39,340,509 | (42,847,513) | (1,574,556) |
Sale of convertible preferred stock for cash and cancellation of note payable (in shares) | 300 | ||||
Sale of convertible preferred stock for cash and cancellation of note payable | $ 300,000 | 300,000 | |||
Conversion of preferred stock to common stock (in shares) | (2,386) | 674,067 | |||
Conversion of preferred stock to common stock | $ (1,856,338) | $ 674 | 1,855,664 | ||
Issuance of common stock for services (in shares) | 0 | 521 | |||
Issuance of common stock for services | $ 0 | $ 1 | 5,999 | 0 | 6,000 |
Net loss | (595,694) | (595,694) | |||
Balance (in shares) at Mar. 31, 2020 | 400 | 689,580 | |||
Balance at Mar. 31, 2020 | $ 376,095 | $ 690 | 41,202,172 | (43,443,207) | (1,864,250) |
Balance (in shares) at Dec. 31, 2019 | 2,486 | 14,992 | |||
Balance at Dec. 31, 2019 | $ 1,932,433 | $ 15 | 39,340,509 | (42,847,513) | (1,574,556) |
Net loss | (1,621,546) | ||||
Balance (in shares) at Sep. 30, 2020 | 100 | 3,559,473 | |||
Balance at Sep. 30, 2020 | $ 76,095 | $ 3,559 | 55,203,149 | (44,469,059) | 10,813,744 |
Balance (in shares) at Dec. 31, 2019 | 2,486 | 14,992 | |||
Balance at Dec. 31, 2019 | $ 1,932,433 | $ 15 | 39,340,509 | (42,847,513) | (1,574,556) |
Sale of convertible preferred stock for cash and cancellation of note payable (in shares) | 300 | 0 | |||
Sale of convertible preferred stock for cash and cancellation of note payable | $ 300,000 | $ 0 | 0 | 0 | 300,000 |
Conversion of preferred stock to common stock (in shares) | (2,686) | 716,790 | |||
Conversion of preferred stock to common stock | $ (2,156,338) | $ 717 | 2,155,621 | 0 | $ 0 |
Issuance of common stock for services (in shares) | 0 | 26,581 | 26,581 | ||
Issuance of common stock for services | $ 0 | $ 27 | 94,373 | 0 | $ 94,400 |
Stock option expense | 0 | 0 | 18,730 | 0 | 18,730 |
Net loss | 0 | 0 | 0 | (2,958,068) | (2,958,068) |
Warrants issued in bridge financing | $ 0 | $ 0 | 457,833 | 0 | $ 457,833 |
Common stock issued (in shares) | 0 | 286,902 | 36,902 | ||
Issuance of common stock upon warrant exercise | $ 0 | $ 287 | 2,213 | 0 | $ 2,500 |
Issuance of common stock upon debenture conversion (in shares) | 0 | 177,626 | |||
Issuance of common stock upon debenture conversion | $ 0 | $ 177 | 569,340 | 0 | 569,517 |
Common stock issued for cancellation of accrued compensation (in shares) | 0 | 300,001 | |||
Issuance of common stock upon cancellation of accrued compensation | $ 0 | $ 300 | 1,499,700 | 0 | 1,500,000 |
Sale of common stock for cash (in shares) | 0 | 2,310,000 | |||
Sale of common stock for cash | $ 0 | $ 2,310 | 11,156,186 | 0 | 11,158,496 |
Roundup of shares following reverse stock split (in shares) | 0 | 1,203 | |||
Roundup of shares following reverse stock split | $ 0 | $ 1 | (1) | 0 | 0 |
Balance (in shares) at Dec. 31, 2020 | 100 | 3,834,095 | |||
Balance at Dec. 31, 2020 | $ 76,095 | $ 3,834 | 55,294,504 | (45,805,581) | 9,568,852 |
Balance (in shares) at Mar. 31, 2020 | 400 | 689,580 | |||
Balance at Mar. 31, 2020 | $ 376,095 | $ 690 | 41,202,172 | (43,443,207) | (1,864,250) |
Issuance of common stock for services (in shares) | 0 | 2,124 | |||
Issuance of common stock for services | $ 0 | $ 2 | 11,998 | 0 | 12,000 |
Net loss | $ 0 | $ 0 | 0 | (455,204) | (455,204) |
Balance (in shares) at Jun. 30, 2020 | 400 | 691,704 | |||
Balance at Jun. 30, 2020 | $ 376,095 | $ 692 | 41,672,003 | (43,898,411) | (1,849,621) |
Conversion of preferred stock to common stock (in shares) | (300) | 42,723 | |||
Conversion of preferred stock to common stock | $ (300,000) | $ 43 | 299,957 | 0 | 0 |
Issuance of common stock for services (in shares) | 0 | 517 | |||
Issuance of common stock for services | $ 0 | $ 0 | 6,000 | 0 | 6,000 |
Net loss | $ 0 | $ 0 | 0 | (570,648) | (570,648) |
Common stock issued (in shares) | 0 | 36,902 | |||
Common stock issued for cancellation of accrued compensation (in shares) | 0 | 300,001 | |||
Issuance of common stock upon cancellation of accrued compensation | $ 0 | $ 300 | 1,499,700 | 0 | 1,500,000 |
Sale of common stock for cash (in shares) | 0 | 2,310,000 | |||
Sale of common stock for cash | $ 0 | $ 2,310 | 11,156,186 | 0 | 11,158,496 |
Balance (in shares) at Sep. 30, 2020 | 100 | 3,559,473 | |||
Balance at Sep. 30, 2020 | $ 76,095 | $ 3,559 | 55,203,149 | (44,469,059) | 10,813,744 |
Balance (in shares) at Dec. 31, 2020 | 100 | 3,834,095 | |||
Balance at Dec. 31, 2020 | $ 76,095 | $ 3,834 | 55,294,504 | (45,805,581) | 9,568,852 |
Issuance of common stock for services (in shares) | 0 | 1,472 | |||
Issuance of common stock for services | $ 0 | $ 1 | 5,999 | 0 | 6,000 |
Stock option expense | 56,190 | 56,190 | |||
Net loss | (1,562,778) | (1,562,778) | |||
Common stock issued (in shares) | 0 | 835,900 | |||
Issuance of common stock upon warrant exercise | $ 0 | $ 836 | 3,173,320 | 0 | 3,174,156 |
Sale of common stock for cash (in shares) | 0 | 1,644,000 | |||
Sale of common stock for cash | $ 0 | $ 1,644 | 9,407,276 | 0 | 9,408,920 |
Balance (in shares) at Mar. 31, 2021 | 100 | 6,315,467 | |||
Balance at Mar. 31, 2021 | $ 76,095 | $ 6,315 | 67,937,289 | (47,368,359) | 20,651,340 |
Balance (in shares) at Dec. 31, 2020 | 100 | 3,834,095 | |||
Balance at Dec. 31, 2020 | $ 76,095 | $ 3,834 | 55,294,504 | (45,805,581) | $ 9,568,852 |
Issuance of common stock for services (in shares) | 13,707 | ||||
Net loss | $ (4,827,314) | ||||
Balance (in shares) at Sep. 30, 2021 | 0 | 6,381,541 | |||
Balance at Sep. 30, 2021 | $ 0 | $ 6,382 | 68,630,363 | (50,632,895) | 18,003,850 |
Balance (in shares) at Mar. 31, 2021 | 100 | 6,315,467 | |||
Balance at Mar. 31, 2021 | $ 76,095 | $ 6,315 | 67,937,289 | (47,368,359) | 20,651,340 |
Issuance of common stock for services (in shares) | 0 | 12,235 | |||
Issuance of common stock for services | $ 0 | $ 13 | 65,828 | 0 | 65,841 |
Stock option expense | 0 | 0 | 56,190 | 0 | 56,190 |
Net loss | $ 0 | $ 0 | 0 | (1,314,033) | (1,314,033) |
Balance (in shares) at Jun. 30, 2021 | 0 | 6,327,702 | |||
Balance at Jun. 30, 2021 | $ 0 | $ 6,328 | 68,134,402 | (48,682,392) | 19,458,338 |
Stock option expense | 0 | 0 | 56,190 | 0 | 56,190 |
Net loss | $ 0 | $ 0 | 0 | (1,950,503) | (1,950,503) |
Common stock issued (in shares) | 0 | 53,839 | |||
Issuance of common stock upon warrant exercise | $ 0 | $ 54 | 229,946 | 0 | 230,000 |
Balance (in shares) at Sep. 30, 2021 | 0 | 6,381,541 | |||
Balance at Sep. 30, 2021 | $ 0 | $ 6,382 | $ 68,630,363 | $ (50,632,895) | $ 18,003,850 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | ||||
Net loss | $ (4,827,314) | $ (1,621,546) | $ (2,958,068) | $ (2,370,629) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 26,806 | 2,983 | 19,656 | 8,350 |
Amortization of debt discount | 0 | 124,185 | 124,185 | 0 |
Stock-based compensation expense | 64,463 | 327,500 | ||
Changes in assets and liabilities: | ||||
Grant funds and other receivables | 182,663 | (72,551) | (114,060) | 53,211 |
Prepaid expenses and other current assets | 106,979 | 82,274 | (24,702) | (56,211) |
Accounts payable and accrued expenses | (289,477) | 252,036 | 137,956 | 639,282 |
Total adjustments | 314,043 | 412,927 | 207,498 | 972,132 |
Net cash used in operating activities | (4,513,271) | (1,208,619) | (2,750,570) | (1,398,497) |
Cash flows from investing activities | ||||
Purchase of property and equipment | (47,718) | (2,470) | (156,791) | (7,606) |
Net cash used in investing activities | (47,718) | (2,470) | (156,791) | (7,606) |
Cash flows from financing activities: | ||||
Net proceeds from sale of preferred stock | 0 | 300,000 | 300,000 | 1,440,000 |
Net proceeds from issuance of note payable | 0 | 170,200 | 170,200 | 0 |
Net proceeds from bridge financing | 0 | 888,500 | 888,500 | 0 |
Net proceeds from sale of common stock and warrants | 9,408,920 | 11,158,496 | 11,158,496 | 0 |
Net proceeds from warrant exercises | 3,404,156 | 0 | 2,500 | 0 |
Principal repayment of note payable | (27,864) | (8,854) | (11,880) | (10,257) |
Net cash provided by financing activities | 12,784,212 | 12,508,342 | 12,507,816 | 1,429,743 |
Net increase in cash and cash equivalents | 8,223,223 | 11,297,253 | 9,600,455 | 23,640 |
Cash and cash equivalents at beginning of period | 9,883,796 | 283,341 | 283,341 | 259,701 |
Cash and cash equivalents at end of period | $ 18,107,019 | $ 11,580,594 | $ 9,883,796 | $ 283,341 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parentheticals) | 12 Months Ended |
Dec. 31, 2020shares | |
Common stock issued (in shares) | 36,902 |
Note 1 - Description of Busines
Note 1 - Description of Business | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
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 immunotherapies and vaccines against infectious diseases and cancers using novel vector vaccine platforms. GeoVax’s Modified Vaccinia Ankara-Virus-Like Particle (MVA-VLP) based platform utilizes MVA, a large virus capable of carrying several vaccine antigens, to express proteins that assemble into highly effective virus-like particle (VLP) immunogens in the person receiving the vaccine. The production of VLPs in the person being vaccinated can mimic virus production in a natural infection, stimulating both the humoral and cellular arms of the immune system to recognize, prevent, and control the target infection. The MVA-VLP derived vaccines can elicit durable immune responses in the host similar to a live-attenuated virus, while providing the safety characteristics of a replication-defective vector. GeoVax’s MVA-VLP development programs are focused primarily on preventive vaccines against the SARS-CoV- 2 19 On September 28, 2021, 1/2 no not GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in the metropolitan Atlanta, Georgia area. | 1. Description of Business GeoVax Labs, Inc. (“GeoVax” or the “Company”), is a clinical-stage biotechnology company developing immunotherapies and vaccines against infectious diseases and cancers using a novel vector vaccine platform (Modified Vaccinia Ankara (MVA) Virus-Like Particle, or “GV-MVA-VLP TM Our current development programs are focused on preventive vaccines against novel coronavirus (COVID- 19 Our corporate strategy is to advance, protect and exploit our differentiated vaccine immunotherapy platform leading to the successful development of preventive and therapeutic vaccines against infectious diseases and various cancers. With our design and development capabilities, we are progressing and validating an array of cancer and infectious disease immunotherapy and vaccine product candidates. Our goal is to advance products through to human clinical testing, and to seek partnership or licensing arrangements for achieving regulatory approval and commercialization. We also leverage third Certain of our 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 the metropolitan Atlanta, Georgia area. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 2. Basis of Presentation The accompanying condensed consolidated financial statements at September 30, 2021 three nine September 30, 2021 2020 not 10 December 31, 2020. not We enacted reverse stock splits of our common stock on September 25, 2020 ( 1 January 21, 2020 ( 1 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 at least the twelve may may no |
Note 3 - Significant Accounting
Note 3 - Significant Accounting Policies and Recent Accounting Pronouncements | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
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, 2020 nine September 30, 2021, no 10 no | 2. Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiary, GeoVax, Inc. All intercompany transactions have been eliminated in consolidation. Basis of Presentation Unless otherwise noted, the accompanying consolidated financial statements, and all share and per share information contained herein, have been retroactively restated to reflect the reverse stock splits described in Note 8. The accompanying consolidated 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 are devoting substantially all of our present efforts to research and development of our vaccine and immunotherapy candidates. We have funded our activities to date from government grants and clinical trial assistance, corporate and academic collaborations, and from sales of our equity securities. We believe that our existing cash resources together with current government funding commitments, will be sufficient to continue our planned operations into 2023. We expect to incur future net losses and require substantial funds as we continue our research and development activities. Our transition to profitability will be dependent upon, among other things, the successful development and commercialization of our product candidates. We may may no Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three Fair Value of Financial Instruments and Concentration of Credit Risk Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from three five We recognize leases in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016 02, Leases 2016 02 not 12 12 not Impairment of Long-Lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not Accrued Expenses As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have not third Net Loss Per Share Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. The weighted average number of common share equivalents which were excluded from the computation of diluted loss per share, totaled 1,001,948 and 558 shares at December 31, 2020 2019, Revenue Recognition We recognize revenue in accordance with FASB Accounting Standards Update 2014 09, Revenue from Contracts with Customers 2014 09 606. five Grant revenue Research collaborations may third 2014 09 Research and Development Expense Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of (i) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to third Patent Costs Our expenditures relating to obtaining and protecting patents are charged to expense when incurred and are included in general and administrative expense. Period-to-Period Comparisons Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should not Income Taxes We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than not Stock-Based Compensation We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the award at the grant date. Stock-based compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Stock-based compensation cost for stock options or warrants is estimated at the grant date based on each instrument’s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note 8 Other Recent Accounting Pronouncements Except as discussed above, there have been no not |
Note 4 - Basic and Diluted Loss
Note 4 - Basic and Diluted Loss Per Common Share | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 4. Basic and Diluted Loss Per Common Share Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. The weighted average number of common share equivalents which were excluded from the computation of diluted loss per share totaled 2,965,451 and 2,550,184 shares for the three nine September 30, 2021, three nine September 30, 2020, |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
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 the following as of September 30, 2021 December 31, 2020: September 30, 2021 December 31, 2020 Equipment and furnishings $ 591,554 $ 543,836 Leasehold improvements 115,605 115,605 Total property and equipment 707,159 659,441 Accumulated depreciation and amortization (538,506 ) (511,700 ) Property and equipment, net $ 168,653 $ 147,741 | 3. Property and Equipment Property and equipment as shown on the accompanying Consolidated Balance Sheets is composed of the following as of December 31, 2020 2019: 2020 2019 Laboratory equipment $ 532,100 $ 534,577 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 11,736 Total property and equipment 659,441 661,918 Accumulated depreciation and amortization (511,700 ) (651,312 ) Property and equipment, net $ 147,741 $ 10,606 Depreciation expense was $19,656 and $8,350 during the years ended December 31, 2020 2019, |
Note 6 - Accrued Expenses
Note 6 - Accrued Expenses | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
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 are composed of the following as of September 30, 2021 December 31, 2020: September 30, 2021 December 31, 2020 Accrued salaries $ 11,212 $ 279,696 Other accrued expenses 35,000 79,585 Total accrued expenses $ 46,212 $ 359,281 | 4. Accrued Expenses Accrued expenses as shown on the accompanying Consolidated Balance Sheets is composed of the following as of December 31, 2020 2019: 2020 2019 Accrued salaries and directors’ fees $ 279,696 $ 1,732,702 Other accrued expenses 79,585 118,338 Total accrued expenses $ 359,281 $ 1,851,040 |
Note 7 - Notes Payable
Note 7 - Notes Payable | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Debt Disclosure [Text Block] | 7. Notes Payable GRA Note February 28, 2018, five five three nine September 30, 2021 2020. May 2021, CARES Act Paycheck Protection Program Loan April 17, 2020, one three nine September 30, 2021, 2020. May 2021, | 5. Notes Payable GRA Note February 28, 2018, five second 2021, in2022, 2023. December 31, 2020 2019, CARES Act Paycheck Protection Program Loan April 17, 2020, one April 17, 2022. October 2020, not |
Note 8 - Commitments
Note 8 - Commitments | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Commitments Disclosure [Text Block] | 8. Commitments Lease Agreement We lease approximately 8,400 square feet of office and laboratory space pursuant to an operating lease which expires on December 31, 2022. three nine September 30, 2021 2020. 2021 2022, may ninety Other Commitments In the normal course of business, we enter into various firm purchase commitments related to production and testing of our vaccine, conduct of research studies, and other activities. As of September 30, 2021, 2021. | 7. Commitments Lease Agreement We lease approximately 8,400 square feet of office and laboratory space pursuant to an operating lease which expires on December 31, 2022. December 31, 2020 2019 2021 2022, may ninety Other Commitments In the normal course of business, we enter into various firm purchase commitments related to production and testing of our vaccine, conduct of research studies, and other activities. As of December 31, 2020, 2021. |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Preferred Stock [Text Block] | 9. Stockholders Equity Preferred Stock June 7, 2021, September 30, 2021, Public Offering February 11, 2021, Stock Options “2020 may 2020 nine September 30, 2021, no 2020 September 30, 2021, Stock Purchase Warrants January February 2021, During August 2021, On September 28, 2021, five As of September 30, 2021, Other Common Stock Transactions nine September 30, 2021, | 8. Stockholders Equity Convertible Preferred Stock We are authorized to issue up to 10,000,000 shares of our Preferred Stock, $.01 may one December 31, 2020 2019. December 31, 2020 2019 December 31, 2020 December 31, 2019 Carrying Carrying Shares Value Shares Value Series B Convertible Preferred Stock 100 $ 76,095 100 $ 76,095 Series H Convertible Preferred Stock - - 1,686 1,156,338 Series I Convertible Preferred Stock - - 700 700,000 Total 100 $ 76,095 2,486 $ 1,932,433 Series B Convertible Preferred Stock no not December 31, 2020, Series C Convertible Preferred Stock no not 2019, December 31, 2020, Series E Convertible Preferred Stock no not 2019, December 31, 2020, Series F Preferred Stock February 2019, no not 2019, December 31, 2020, Series G Preferred Stock February 2019, three no not first February 2019, $250,000. second third April June 2019, July 2019, December 31, 2020, Series H Preferred Stock July 2019, no not 2019, 2020, December 31, 2020, Series I Preferred Stock July 2019, no not 2020, December 31, 2020, Series J Preferred Stock January 2020, no not 2020, December 31, 2020, Common Stock Reverse Stock Splits April 30, 2019, 1 January 21, 2020, 1 September 25, 2020, 1 Conversions of Preferred Stock 2020 2019 Public Offering September 24, 2020, September 29, 2020, Of the 2,560,000 Units sold in the Offering: (a) 2,310,000 Units consist of one one one one October 2020. one five Pursuant to the Underwriting Agreement, we issued to the Representative, as a portion of the underwriting compensation, warrants to purchase up to a total of 128,000 shares of common stock (the “Representative Warrants”). The Representative Warrants have an exercise price of $5.50 per share, are initially exercisable 180 days after the effective date of the Offering and have a term of three Conversion of Deferred Compensation to Equity 2016 August 2020, September 29, 2020, one one Conversion of Convertible Debentures to Equity 6, Other Common Stock Transactions 2020 2019 2020, Stock Options We have a stock-based incentive plan (the “2020 may 2020 may not ten three We use the Black-Scholes model for determining the grant date fair value of our stock option grants. This model utilizes certain information, such as the interest rate on a risk-free security with a term generally equivalent to the expected life of the option being valued and requires certain other assumptions, such as the expected amount of time an option will be outstanding until it is exercised or expired, to calculate the fair value of stock options granted. The significant assumptions we used in our fair value calculations were as follows: 2020 2019 Weighted average risk-free interest rates 0.69 % N/A Expected dividend yield 0.0 % N/A Expected life of option (years) 7.0 N/A Expected volatility 38.16 % N/A A summary of stock option activity under the 2020 December 31, 2020, Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (yrs) Aggregate Intrinsic Value Outstanding at December 31, 2019 - $ - Granted 602,000 2.79 Exercised - - Forfeited or expired - - Outstanding at December 31, 2020 602,000 $ 2.79 9.9 $ 355,180 Exercisable at December 31, 2020 -0- $ - - $ - The weighted-average grant date fair value of options granted during 2020 No 2019. December 31, 2020 2019 December 31, 2020, Stock Purchase Warrants Summary of Warrants Outstanding December 31, 2020. Warrant Description Number of Shares Exercise Price Expiration Series I Warrants 62,626 $ 5.00 Oct-Dec 2024 June 2020 Warrants 120,000 5.00 Jun 2025 Pre-Funded Warrants 126,042 0.01 Perpetual Unit, Conversion and Management Warrants 3,163,669 5.00 Sep 2025 Representative Warrants 128,000 5.50 Mar 2024 Total Warrants Outstanding at December 31, 2020 3,600,337 Weighted-Average Exercise Price $ 4.84 Weighted-Average Remaining Life (excluding Pre-Funded Warrants) (years) 4.7 Series I Warrants July 2020, December 31, 2020, June 2020 6, June 26, 2020, five September 29, 2020 Warrants Issued Upon Conversion of Convertible Debentures 6, September 29, 2020, Warrants Issued Upon Conversion of Deferred Compensation Common Stock Conversion of Deferred Compensation to Equity September 29, 2020, Warrants Issued in Connection with Public Offering Common Stock Public Offering September 29, 2020, October 2020), Additional Stock-Based Compensation Expense In addition to stock-based compensation expense related to the 2020 Stock Options December 31, 2020 2019, December 31, 2020, one 2021 |
Note 10 - Stock-based Expense
Note 10 - Stock-based Expense | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 10. Stock-Based Expense Stock-based compensation expense related to employee and director stock options was $56,190 and $168,570 during the three nine September 30, 2021, 2020. September 30, 2021, During the three nine September 30, 2021, 2020. September 30, 2021, During September 2021, |
Note 11 - Income Taxes
Note 11 - Income Taxes | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Income Tax Disclosure [Text Block] | 11. Income Taxes Because of our historically significant net operating losses, we have not 382 may | 10. Income Taxes At December 31, 2020, 2021 2037. 2022 2040 382 may may Deferred income taxes reflect the net effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities included the following at December 31, 2020 2019: 2020 2019 Deferred tax assets: Net operating loss carryforward $ 14,737,240 $ 15,328,336 Research and development tax credit carryforward 1,189,110 1,122,536 Stock-based compensation expense 4,870 1,877,284 Accrued salaries and directors’ fees 72,721 450,503 Depreciation - 8,571 Total deferred tax assets 16,003,941 18,787,230 Deferred tax liabilities Depreciation 28,274 - Net deferred tax assets 15,975,667 18,787,230 Valuation allowance (15,975,667 ) (18,787,230 ) Net deferred tax asset after reduction for valuation allowance $ -0- $ -0- We have established a full valuation allowance equal to the amount of our net deferred tax assets due to uncertainties with respect to our ability to generate sufficient taxable income to realize these assets in the future. A reconciliation of the income tax benefit on losses at the U.S. federal statutory rate to the reported income tax expense is as follows: 2020 2019 U.S. federal statutory rate applied to pretax loss $ (621,194 ) $ (497,833 ) Permanent differences 65 278 Research and development credits (66,574 ) (47,053 ) Change in valuation allowance, net of expired items and other adjustments 687,703 544,308 Reported income tax expense $ -0- $ -0- |
Note 12 - Grants and Collaborat
Note 12 - Grants and Collaboration Revenue | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Government Grants and Contracts [Text Block] | 12. Grants and Collaboration Revenue We receive payments from government entities under our grants from the National Institute of Allergy and Infectious Diseases (NIAID) and from the U.S. Department of Defense in support of our vaccine research and development efforts. We record revenue associated with government grants as the reimbursable costs are incurred. During the three nine September 30, 2021, 2020. three nine September 30, 2020, third September 30, 2021, 2022. | 11. Grants and Collaboration Revenue We receive payments from government entities under our grants from the National Institute of Allergy and Infectious Diseases (NIAID) and from the U.S. Department of Defense in support of our vaccine research and development efforts. We record revenue associated with government grants as the reimbursable costs are incurred. During 2020 2019, December 31, 2020, 2021. 2020 2019, third |
Note 13 - Subsequent Event
Note 13 - Subsequent Event | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Subsequent Events [Text Block] | 13. Subsequent Event On November 9, 2021, 19 30 first second | 12. Subsequent Events SBIR Grant January 2021, 2, 19. 1 Preclinical Development of GV-MVA-VLP Vaccines Against COVID- 19, Warrant Exercises January February 2021, Bought Deal Public Offering -- February 11, 2021, |
Note 1 - Description of Busin_2
Note 1 - Description of Business | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
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 immunotherapies and vaccines against infectious diseases and cancers using novel vector vaccine platforms. GeoVax’s Modified Vaccinia Ankara-Virus-Like Particle (MVA-VLP) based platform utilizes MVA, a large virus capable of carrying several vaccine antigens, to express proteins that assemble into highly effective virus-like particle (VLP) immunogens in the person receiving the vaccine. The production of VLPs in the person being vaccinated can mimic virus production in a natural infection, stimulating both the humoral and cellular arms of the immune system to recognize, prevent, and control the target infection. The MVA-VLP derived vaccines can elicit durable immune responses in the host similar to a live-attenuated virus, while providing the safety characteristics of a replication-defective vector. GeoVax’s MVA-VLP development programs are focused primarily on preventive vaccines against the SARS-CoV- 2 19 On September 28, 2021, 1/2 no not GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in the metropolitan Atlanta, Georgia area. | 1. Description of Business GeoVax Labs, Inc. (“GeoVax” or the “Company”), is a clinical-stage biotechnology company developing immunotherapies and vaccines against infectious diseases and cancers using a novel vector vaccine platform (Modified Vaccinia Ankara (MVA) Virus-Like Particle, or “GV-MVA-VLP TM Our current development programs are focused on preventive vaccines against novel coronavirus (COVID- 19 Our corporate strategy is to advance, protect and exploit our differentiated vaccine immunotherapy platform leading to the successful development of preventive and therapeutic vaccines against infectious diseases and various cancers. With our design and development capabilities, we are progressing and validating an array of cancer and infectious disease immunotherapy and vaccine product candidates. Our goal is to advance products through to human clinical testing, and to seek partnership or licensing arrangements for achieving regulatory approval and commercialization. We also leverage third Certain of our 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 the metropolitan Atlanta, Georgia area. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
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, 2020 nine September 30, 2021, no 10 no | 2. Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiary, GeoVax, Inc. All intercompany transactions have been eliminated in consolidation. Basis of Presentation Unless otherwise noted, the accompanying consolidated financial statements, and all share and per share information contained herein, have been retroactively restated to reflect the reverse stock splits described in Note 8. The accompanying consolidated 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 are devoting substantially all of our present efforts to research and development of our vaccine and immunotherapy candidates. We have funded our activities to date from government grants and clinical trial assistance, corporate and academic collaborations, and from sales of our equity securities. We believe that our existing cash resources together with current government funding commitments, will be sufficient to continue our planned operations into 2023. We expect to incur future net losses and require substantial funds as we continue our research and development activities. Our transition to profitability will be dependent upon, among other things, the successful development and commercialization of our product candidates. We may may no Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three Fair Value of Financial Instruments and Concentration of Credit Risk Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from three five We recognize leases in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016 02, Leases 2016 02 not 12 12 not Impairment of Long-Lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not Accrued Expenses As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have not third Net Loss Per Share Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. The weighted average number of common share equivalents which were excluded from the computation of diluted loss per share, totaled 1,001,948 and 558 shares at December 31, 2020 2019, Revenue Recognition We recognize revenue in accordance with FASB Accounting Standards Update 2014 09, Revenue from Contracts with Customers 2014 09 606. five Grant revenue Research collaborations may third 2014 09 Research and Development Expense Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of (i) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to third Patent Costs Our expenditures relating to obtaining and protecting patents are charged to expense when incurred and are included in general and administrative expense. Period-to-Period Comparisons Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should not Income Taxes We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than not Stock-Based Compensation We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the award at the grant date. Stock-based compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Stock-based compensation cost for stock options or warrants is estimated at the grant date based on each instrument’s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note 8 Other Recent Accounting Pronouncements Except as discussed above, there have been no not |
Note 3 - Property and Equipment
Note 3 - Property and Equipment | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
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 the following as of September 30, 2021 December 31, 2020: September 30, 2021 December 31, 2020 Equipment and furnishings $ 591,554 $ 543,836 Leasehold improvements 115,605 115,605 Total property and equipment 707,159 659,441 Accumulated depreciation and amortization (538,506 ) (511,700 ) Property and equipment, net $ 168,653 $ 147,741 | 3. Property and Equipment Property and equipment as shown on the accompanying Consolidated Balance Sheets is composed of the following as of December 31, 2020 2019: 2020 2019 Laboratory equipment $ 532,100 $ 534,577 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 11,736 Total property and equipment 659,441 661,918 Accumulated depreciation and amortization (511,700 ) (651,312 ) Property and equipment, net $ 147,741 $ 10,606 Depreciation expense was $19,656 and $8,350 during the years ended December 31, 2020 2019, |
Note 4 - Accrued Expenses
Note 4 - Accrued Expenses | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
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 are composed of the following as of September 30, 2021 December 31, 2020: September 30, 2021 December 31, 2020 Accrued salaries $ 11,212 $ 279,696 Other accrued expenses 35,000 79,585 Total accrued expenses $ 46,212 $ 359,281 | 4. Accrued Expenses Accrued expenses as shown on the accompanying Consolidated Balance Sheets is composed of the following as of December 31, 2020 2019: 2020 2019 Accrued salaries and directors’ fees $ 279,696 $ 1,732,702 Other accrued expenses 79,585 118,338 Total accrued expenses $ 359,281 $ 1,851,040 |
Note 5 - Notes Payable
Note 5 - Notes Payable | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Debt Disclosure [Text Block] | 7. Notes Payable GRA Note February 28, 2018, five five three nine September 30, 2021 2020. May 2021, CARES Act Paycheck Protection Program Loan April 17, 2020, one three nine September 30, 2021, 2020. May 2021, | 5. Notes Payable GRA Note February 28, 2018, five second 2021, in2022, 2023. December 31, 2020 2019, CARES Act Paycheck Protection Program Loan April 17, 2020, one April 17, 2022. October 2020, not |
Note 6 - Convertible Debentures
Note 6 - Convertible Debentures | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | 6. Convertible Debentures On June 26 2020, two $1,200,000; five “June 2020 8, September 29, 2020 June 2020 twelve The Convertible Debentures were mandatorily convertible upon our consummation of a public offering of common stock with gross proceeds of $6,000,000 or more, and which resulted in the listing of our common stock on a national securities exchange (a “Qualified Offering”). The conversion price upon the occurrence of a Qualified Offering was equal to the lower of (i) $10.00 per share or (ii) 80% of the offering price. The conversion provisions of the Convertible Debentures were subject to a “conversion blocker” such that each of the purchasers could not On September 29, 2020, 8, 303,668 one one one one one not one five Upon the issuance of the Convertible Debentures, we recorded a debt discount of $769,334, including the $150,000 original issue discount, $457,833 of fair value allocated to the warrants (recorded as Additional Paid-in Capital), and $161,500 of direct transaction costs incurred. The debt discount was amortized to interest expense over the 12 September 29, 2020, 2020 |
Note 7 - Commitments
Note 7 - Commitments | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Commitments Disclosure [Text Block] | 8. Commitments Lease Agreement We lease approximately 8,400 square feet of office and laboratory space pursuant to an operating lease which expires on December 31, 2022. three nine September 30, 2021 2020. 2021 2022, may ninety Other Commitments In the normal course of business, we enter into various firm purchase commitments related to production and testing of our vaccine, conduct of research studies, and other activities. As of September 30, 2021, 2021. | 7. Commitments Lease Agreement We lease approximately 8,400 square feet of office and laboratory space pursuant to an operating lease which expires on December 31, 2022. December 31, 2020 2019 2021 2022, may ninety Other Commitments In the normal course of business, we enter into various firm purchase commitments related to production and testing of our vaccine, conduct of research studies, and other activities. As of December 31, 2020, 2021. |
Note 8 - Stockholders' Equity
Note 8 - Stockholders' Equity | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Preferred Stock [Text Block] | 9. Stockholders Equity Preferred Stock June 7, 2021, September 30, 2021, Public Offering February 11, 2021, Stock Options “2020 may 2020 nine September 30, 2021, no 2020 September 30, 2021, Stock Purchase Warrants January February 2021, During August 2021, On September 28, 2021, five As of September 30, 2021, Other Common Stock Transactions nine September 30, 2021, | 8. Stockholders Equity Convertible Preferred Stock We are authorized to issue up to 10,000,000 shares of our Preferred Stock, $.01 may one December 31, 2020 2019. December 31, 2020 2019 December 31, 2020 December 31, 2019 Carrying Carrying Shares Value Shares Value Series B Convertible Preferred Stock 100 $ 76,095 100 $ 76,095 Series H Convertible Preferred Stock - - 1,686 1,156,338 Series I Convertible Preferred Stock - - 700 700,000 Total 100 $ 76,095 2,486 $ 1,932,433 Series B Convertible Preferred Stock no not December 31, 2020, Series C Convertible Preferred Stock no not 2019, December 31, 2020, Series E Convertible Preferred Stock no not 2019, December 31, 2020, Series F Preferred Stock February 2019, no not 2019, December 31, 2020, Series G Preferred Stock February 2019, three no not first February 2019, $250,000. second third April June 2019, July 2019, December 31, 2020, Series H Preferred Stock July 2019, no not 2019, 2020, December 31, 2020, Series I Preferred Stock July 2019, no not 2020, December 31, 2020, Series J Preferred Stock January 2020, no not 2020, December 31, 2020, Common Stock Reverse Stock Splits April 30, 2019, 1 January 21, 2020, 1 September 25, 2020, 1 Conversions of Preferred Stock 2020 2019 Public Offering September 24, 2020, September 29, 2020, Of the 2,560,000 Units sold in the Offering: (a) 2,310,000 Units consist of one one one one October 2020. one five Pursuant to the Underwriting Agreement, we issued to the Representative, as a portion of the underwriting compensation, warrants to purchase up to a total of 128,000 shares of common stock (the “Representative Warrants”). The Representative Warrants have an exercise price of $5.50 per share, are initially exercisable 180 days after the effective date of the Offering and have a term of three Conversion of Deferred Compensation to Equity 2016 August 2020, September 29, 2020, one one Conversion of Convertible Debentures to Equity 6, Other Common Stock Transactions 2020 2019 2020, Stock Options We have a stock-based incentive plan (the “2020 may 2020 may not ten three We use the Black-Scholes model for determining the grant date fair value of our stock option grants. This model utilizes certain information, such as the interest rate on a risk-free security with a term generally equivalent to the expected life of the option being valued and requires certain other assumptions, such as the expected amount of time an option will be outstanding until it is exercised or expired, to calculate the fair value of stock options granted. The significant assumptions we used in our fair value calculations were as follows: 2020 2019 Weighted average risk-free interest rates 0.69 % N/A Expected dividend yield 0.0 % N/A Expected life of option (years) 7.0 N/A Expected volatility 38.16 % N/A A summary of stock option activity under the 2020 December 31, 2020, Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (yrs) Aggregate Intrinsic Value Outstanding at December 31, 2019 - $ - Granted 602,000 2.79 Exercised - - Forfeited or expired - - Outstanding at December 31, 2020 602,000 $ 2.79 9.9 $ 355,180 Exercisable at December 31, 2020 -0- $ - - $ - The weighted-average grant date fair value of options granted during 2020 No 2019. December 31, 2020 2019 December 31, 2020, Stock Purchase Warrants Summary of Warrants Outstanding December 31, 2020. Warrant Description Number of Shares Exercise Price Expiration Series I Warrants 62,626 $ 5.00 Oct-Dec 2024 June 2020 Warrants 120,000 5.00 Jun 2025 Pre-Funded Warrants 126,042 0.01 Perpetual Unit, Conversion and Management Warrants 3,163,669 5.00 Sep 2025 Representative Warrants 128,000 5.50 Mar 2024 Total Warrants Outstanding at December 31, 2020 3,600,337 Weighted-Average Exercise Price $ 4.84 Weighted-Average Remaining Life (excluding Pre-Funded Warrants) (years) 4.7 Series I Warrants July 2020, December 31, 2020, June 2020 6, June 26, 2020, five September 29, 2020 Warrants Issued Upon Conversion of Convertible Debentures 6, September 29, 2020, Warrants Issued Upon Conversion of Deferred Compensation Common Stock Conversion of Deferred Compensation to Equity September 29, 2020, Warrants Issued in Connection with Public Offering Common Stock Public Offering September 29, 2020, October 2020), Additional Stock-Based Compensation Expense In addition to stock-based compensation expense related to the 2020 Stock Options December 31, 2020 2019, December 31, 2020, one 2021 |
Note 9 - Retirement Plan
Note 9 - Retirement Plan | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 9. Retirement Plan We participate in a multi-employer defined contribution retirement plan (the “401k third 401k December 31, 2020 2019 401k |
Note 10 - Income Taxes
Note 10 - Income Taxes | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Income Tax Disclosure [Text Block] | 11. Income Taxes Because of our historically significant net operating losses, we have not 382 may | 10. Income Taxes At December 31, 2020, 2021 2037. 2022 2040 382 may may Deferred income taxes reflect the net effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities included the following at December 31, 2020 2019: 2020 2019 Deferred tax assets: Net operating loss carryforward $ 14,737,240 $ 15,328,336 Research and development tax credit carryforward 1,189,110 1,122,536 Stock-based compensation expense 4,870 1,877,284 Accrued salaries and directors’ fees 72,721 450,503 Depreciation - 8,571 Total deferred tax assets 16,003,941 18,787,230 Deferred tax liabilities Depreciation 28,274 - Net deferred tax assets 15,975,667 18,787,230 Valuation allowance (15,975,667 ) (18,787,230 ) Net deferred tax asset after reduction for valuation allowance $ -0- $ -0- We have established a full valuation allowance equal to the amount of our net deferred tax assets due to uncertainties with respect to our ability to generate sufficient taxable income to realize these assets in the future. A reconciliation of the income tax benefit on losses at the U.S. federal statutory rate to the reported income tax expense is as follows: 2020 2019 U.S. federal statutory rate applied to pretax loss $ (621,194 ) $ (497,833 ) Permanent differences 65 278 Research and development credits (66,574 ) (47,053 ) Change in valuation allowance, net of expired items and other adjustments 687,703 544,308 Reported income tax expense $ -0- $ -0- |
Note 11 - Grants and Collaborat
Note 11 - Grants and Collaboration Revenue | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Government Grants and Contracts [Text Block] | 12. Grants and Collaboration Revenue We receive payments from government entities under our grants from the National Institute of Allergy and Infectious Diseases (NIAID) and from the U.S. Department of Defense in support of our vaccine research and development efforts. We record revenue associated with government grants as the reimbursable costs are incurred. During the three nine September 30, 2021, 2020. three nine September 30, 2020, third September 30, 2021, 2022. | 11. Grants and Collaboration Revenue We receive payments from government entities under our grants from the National Institute of Allergy and Infectious Diseases (NIAID) and from the U.S. Department of Defense in support of our vaccine research and development efforts. We record revenue associated with government grants as the reimbursable costs are incurred. During 2020 2019, December 31, 2020, 2021. 2020 2019, third |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes to Financial Statements | ||
Subsequent Events [Text Block] | 13. Subsequent Event On November 9, 2021, 19 30 first second | 12. Subsequent Events SBIR Grant January 2021, 2, 19. 1 Preclinical Development of GV-MVA-VLP Vaccines Against COVID- 19, Warrant Exercises January February 2021, Bought Deal Public Offering -- February 11, 2021, |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | GEOVAX LABS, INC. SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2020 2019 Additions (Reductions) Description Balance at Beginning Of Period Charged to Costs and Expenses Charged to Other Accounts Deductions Balance at End Of Period Reserve Deducted in the Balance Sheet From the Asset to Which it Applies: Allowance for Deferred Tax Assets Year ended December 31, 2020 $ 18,787,230 $ (2,811,563 ) $ -0- $ -0- $ 15,975,667 Year ended December 31, 2019 19,879,954 (1,092,724 ) -0- -0- 18,787,230 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiary, GeoVax, Inc. All intercompany transactions have been eliminated in consolidation. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation Unless otherwise noted, the accompanying consolidated financial statements, and all share and per share information contained herein, have been retroactively restated to reflect the reverse stock splits described in Note 8. The accompanying consolidated 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 are devoting substantially all of our present efforts to research and development of our vaccine and immunotherapy candidates. We have funded our activities to date from government grants and clinical trial assistance, corporate and academic collaborations, and from sales of our equity securities. We believe that our existing cash resources together with current government funding commitments, will be sufficient to continue our planned operations into 2023. We expect to incur future net losses and require substantial funds as we continue our research and development activities. Our transition to profitability will be dependent upon, among other things, the successful development and commercialization of our product candidates. We may may no |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments and Concentration of Credit Risk Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from three five We recognize leases in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016 02, Leases 2016 02 not 12 12 not |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not |
Accrued Liabilities [Policy Text Block] | Accrued Expenses As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have not third |
Earnings Per Share, Policy [Policy Text Block] | Net Loss Per Share Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. The weighted average number of common share equivalents which were excluded from the computation of diluted loss per share, totaled 1,001,948 and 558 shares at December 31, 2020 2019, |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition We recognize revenue in accordance with FASB Accounting Standards Update 2014 09, Revenue from Contracts with Customers 2014 09 606. five Grant revenue Research collaborations may third 2014 09 |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Expense Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of (i) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to third |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Patent Costs Our expenditures relating to obtaining and protecting patents are charged to expense when incurred and are included in general and administrative expense. |
Reclassification, Comparability Adjustment [Policy Text Block] | Period-to-Period Comparisons Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should not |
Income Tax, Policy [Policy Text Block] | Income Taxes We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than not |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the award at the grant date. Stock-based compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Stock-based compensation cost for stock options or warrants is estimated at the grant date based on each instrument’s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note 8 |
New Accounting Pronouncements, Policy [Policy Text Block] | Other Recent Accounting Pronouncements Except as discussed above, there have been no not |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes Tables | ||
Property, Plant and Equipment [Table Text Block] | September 30, 2021 December 31, 2020 Equipment and furnishings $ 591,554 $ 543,836 Leasehold improvements 115,605 115,605 Total property and equipment 707,159 659,441 Accumulated depreciation and amortization (538,506 ) (511,700 ) Property and equipment, net $ 168,653 $ 147,741 | 2020 2019 Laboratory equipment $ 532,100 $ 534,577 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 11,736 Total property and equipment 659,441 661,918 Accumulated depreciation and amortization (511,700 ) (651,312 ) Property and equipment, net $ 147,741 $ 10,606 |
Note 6 - Accrued Expenses (Tabl
Note 6 - Accrued Expenses (Tables) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes Tables | ||
Schedule of Accrued Liabilities [Table Text Block] | September 30, 2021 December 31, 2020 Accrued salaries $ 11,212 $ 279,696 Other accrued expenses 35,000 79,585 Total accrued expenses $ 46,212 $ 359,281 | 2020 2019 Accrued salaries and directors’ fees $ 279,696 $ 1,732,702 Other accrued expenses 79,585 118,338 Total accrued expenses $ 359,281 $ 1,851,040 |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment (Tables) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes Tables | ||
Property, Plant and Equipment [Table Text Block] | September 30, 2021 December 31, 2020 Equipment and furnishings $ 591,554 $ 543,836 Leasehold improvements 115,605 115,605 Total property and equipment 707,159 659,441 Accumulated depreciation and amortization (538,506 ) (511,700 ) Property and equipment, net $ 168,653 $ 147,741 | 2020 2019 Laboratory equipment $ 532,100 $ 534,577 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 11,736 Total property and equipment 659,441 661,918 Accumulated depreciation and amortization (511,700 ) (651,312 ) Property and equipment, net $ 147,741 $ 10,606 |
Note 4 - Accrued Expenses (Tabl
Note 4 - Accrued Expenses (Tables) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Notes Tables | ||
Schedule of Accrued Liabilities [Table Text Block] | September 30, 2021 December 31, 2020 Accrued salaries $ 11,212 $ 279,696 Other accrued expenses 35,000 79,585 Total accrued expenses $ 46,212 $ 359,281 | 2020 2019 Accrued salaries and directors’ fees $ 279,696 $ 1,732,702 Other accrued expenses 79,585 118,338 Total accrued expenses $ 359,281 $ 1,851,040 |
Note 8 - Stockholders' Equity (
Note 8 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Preferred Stock [Table Text Block] | December 31, 2020 December 31, 2019 Carrying Carrying Shares Value Shares Value Series B Convertible Preferred Stock 100 $ 76,095 100 $ 76,095 Series H Convertible Preferred Stock - - 1,686 1,156,338 Series I Convertible Preferred Stock - - 700 700,000 Total 100 $ 76,095 2,486 $ 1,932,433 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2020 2019 Weighted average risk-free interest rates 0.69 % N/A Expected dividend yield 0.0 % N/A Expected life of option (years) 7.0 N/A Expected volatility 38.16 % N/A |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (yrs) Aggregate Intrinsic Value Outstanding at December 31, 2019 - $ - Granted 602,000 2.79 Exercised - - Forfeited or expired - - Outstanding at December 31, 2020 602,000 $ 2.79 9.9 $ 355,180 Exercisable at December 31, 2020 -0- $ - - $ - |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrant Description Number of Shares Exercise Price Expiration Series I Warrants 62,626 $ 5.00 Oct-Dec 2024 June 2020 Warrants 120,000 5.00 Jun 2025 Pre-Funded Warrants 126,042 0.01 Perpetual Unit, Conversion and Management Warrants 3,163,669 5.00 Sep 2025 Representative Warrants 128,000 5.50 Mar 2024 Total Warrants Outstanding at December 31, 2020 3,600,337 Weighted-Average Exercise Price $ 4.84 Weighted-Average Remaining Life (excluding Pre-Funded Warrants) (years) 4.7 |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2020 2019 Deferred tax assets: Net operating loss carryforward $ 14,737,240 $ 15,328,336 Research and development tax credit carryforward 1,189,110 1,122,536 Stock-based compensation expense 4,870 1,877,284 Accrued salaries and directors’ fees 72,721 450,503 Depreciation - 8,571 Total deferred tax assets 16,003,941 18,787,230 Deferred tax liabilities Depreciation 28,274 - Net deferred tax assets 15,975,667 18,787,230 Valuation allowance (15,975,667 ) (18,787,230 ) Net deferred tax asset after reduction for valuation allowance $ -0- $ -0- |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2020 2019 U.S. federal statutory rate applied to pretax loss $ (621,194 ) $ (497,833 ) Permanent differences 65 278 Research and development credits (66,574 ) (47,053 ) Change in valuation allowance, net of expired items and other adjustments 687,703 544,308 Reported income tax expense $ -0- $ -0- |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Summary of Valuation Allowance [Table Text Block] | Additions (Reductions) Description Balance at Beginning Of Period Charged to Costs and Expenses Charged to Other Accounts Deductions Balance at End Of Period Reserve Deducted in the Balance Sheet From the Asset to Which it Applies: Allowance for Deferred Tax Assets Year ended December 31, 2020 $ 18,787,230 $ (2,811,563 ) $ -0- $ -0- $ 15,975,667 Year ended December 31, 2019 19,879,954 (1,092,724 ) -0- -0- 18,787,230 |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation (Details Textual) | Sep. 25, 2020 | Jan. 21, 2020 | Apr. 30, 2019 |
Reverse Stock Split [Member] | |||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 20 | 2,000 | 500 |
Note 4 - Basic and Diluted Lo_2
Note 4 - Basic and Diluted Loss Per Common Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2,965,451 | 204,553 | 2,550,184 | 78,754 | 1,001,948 | 558 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Property and equipment, gross | $ 707,159 | $ 659,441 | $ 661,918 |
Accumulated depreciation and amortization | (538,506) | (511,700) | (651,312) |
Property and equipment, net | 168,653 | 147,741 | 10,606 |
Equipment and Furnishings [Member] | |||
Property and equipment, gross | 591,554 | 543,836 | |
Leasehold Improvements [Member] | |||
Property and equipment, gross | $ 115,605 | $ 115,605 | $ 115,605 |
Note 6 - Accrued Expenses - Sch
Note 6 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Accrued salaries | $ 11,212 | $ 279,696 | $ 1,732,702 |
Other accrued expenses | 35,000 | 79,585 | 118,338 |
Total accrued expenses | $ 46,212 | $ 359,281 | $ 1,851,040 |
Note 7 - Notes Payable (Details
Note 7 - Notes Payable (Details Textual) - USD ($) | Apr. 17, 2020 | Feb. 28, 2018 | May 31, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Proceeds from Notes Payable, Total | $ 0 | $ 170,200 | $ 170,200 | $ 0 | |||||
Repayments of Notes Payable | 27,864 | 8,854 | 11,880 | $ 10,257 | |||||
Paycheck Protection Program CARES Act [Member] | |||||||||
Proceeds from Notes Payable, Total | $ 170,200 | ||||||||
Interest Expense, Debt, Total | $ 0 | $ 429 | 653 | 774 | $ 1,203 | ||||
Extinguishment of Debt, Amount | $ 170,200 | ||||||||
Gain (Loss) from Interest Forgiven | 1,856 | ||||||||
Senior Notes [Member] | |||||||||
Debt Instrument, Term (Year) | 5 years | ||||||||
Proceeds from Notes Payable, Total | $ 50,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||||||||
Interest Expense, Debt, Total | $ 0 | $ 411 | $ 633 | $ 1,344 | |||||
Repayments of Notes Payable | $ 22,737 |
Note 8 - Commitments (Details T
Note 8 - Commitments (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021USD ($)ft² | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)ft² | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($)ft² | |
Area of Real Estate Property (Square Foot) | ft² | 8,400 | ||||
Lessee, Operating Lease, Liability, to be Paid, Year One | $ 171,213 | ||||
Unrecorded Unconditional Purchase Obligation, Total | $ 607,000 | $ 607,000 | $ 190,000 | ||
Office and Laboratory Lease Agreement [Member] | |||||
Area of Real Estate Property (Square Foot) | ft² | 8,400 | 8,400 | |||
Operating Lease, Expense | $ 42,803 | $ 41,539 | $ 128,410 | $ 124,617 | |
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year | 42,803 | 42,803 | |||
Lessee, Operating Lease, Liability, to be Paid, Year One | $ 176,356 | $ 176,356 |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Details Textual) - USD ($) | Jun. 07, 2021 | Feb. 11, 2021 | Aug. 31, 2021 | Feb. 28, 2021 | Jun. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 28, 2021 | Sep. 29, 2020 | Sep. 24, 2020 |
Stock Repurchased During Period, Value | $ 1,000 | |||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 100 | 2,486 | ||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,644,000 | |||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 6.25 | |||||||||||
Proceeds from Issuance of Common Stock | $ 9,400,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 602,000 | 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 602,000 | 602,000 | 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 2.79 | $ 2.79 | $ 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 9 years 2 months 12 days | 9 years 10 months 24 days | ||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 36,902 | |||||||||||
Proceeds from Warrant Exercises | $ 230,000 | $ 3,174,156 | $ 3,404,156 | $ 0 | $ 2,500 | $ 0 | ||||||
Class of Warrant or Right, Outstanding (in shares) | 3,600,337 | |||||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 13,707 | 26,581 | 162 | |||||||||
Stock Incentive Plan 2020 [Member] | ||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 1,500,000 | 1,000,000 | ||||||||||
Representative Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 72,000 | 128,000 | 128,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 6.875 | $ 5.50 | $ 5.50 | |||||||||
Warrants and Rights Outstanding, Term (Year) | 3 years | |||||||||||
Class of Warrant or Right, Outstanding (in shares) | 128,000 | |||||||||||
Stock Purchase Warrants First Issuance [Member] | ||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 27,004 | 188,688 | ||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 3,839 | 145,866 | ||||||||||
Stock Purchase Warrants Second Issuance [Member] | ||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 50,000 | 690,034 | ||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 50,000 | 690,034 | ||||||||||
Stock Purchase Warrant to PNP [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 100,000 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 13 | |||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||
Stock Purchase Warrants [Member] | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 5.35 | |||||||||||
Warrants and Rights Outstanding, Term (Year) | 3 years 10 months 24 days | |||||||||||
Class of Warrant or Right, Outstanding (in shares) | 2,816,631 | |||||||||||
Over-Allotment Option [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 204,000 | |||||||||||
Series B Convertible Preferred Stock [Member] | ||||||||||||
Stock Repurchased During Period, Shares (in shares) | 100 | |||||||||||
Stock Repurchased During Period, Value | $ 1,000 | |||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 100 | 100 |
Note 10 - Stock-based Expense (
Note 10 - Stock-based Expense (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 486,940 | $ 486,940 | $ 486,940 | ||||
Stock Issued During Period, Value Expensed During the Period, Issued for Services | 29,560 | $ 6,000 | 80,733 | $ 24,000 | |||
Prepaid Expense, Value of Stock Issued for Services During Period | 39,773 | 39,773 | 39,773 | $ 48,667 | |||
Research and Development Expense [Member] | |||||||
Warrant Issuance Expense | $ 209,825 | ||||||
Share-based Payment Arrangement, Option [Member] | |||||||
Share-based Payment Arrangement, Expense | $ 56,190 | $ 0 | $ 168,570 | $ 0 | $ 18,730 | $ 104,420 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 2 months 12 days | 2 years 10 months 24 days |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Income Taxes Paid | $ 0 | $ 0 |
Note 12 - Grants and Collabor_2
Note 12 - Grants and Collaboration Revenue (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 30,414 | $ 415,458 | $ 220,539 | $ 1,572,037 | $ 1,823,658 | $ 1,175,896 |
Unused Grant Funds | 244,888 | 244,888 | 165,500 | |||
NIH Grants [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 30,414 | 231,330 | $ 220,539 | 1,186,844 | $ 1,438,465 | $ 983,682 |
Leidos, Inc. Research Collaborative Agreement [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 184,128 | $ 385,193 |
Note 13 - Subsequent Event (Det
Note 13 - Subsequent Event (Details Textual) - City of Hope [Member] - Subsequent Event [Member] | Nov. 09, 2021USD ($) |
Upfront Fee | $ 5,000,000 |
License First Anniversary Payment [Member] | |
License Fees | 3,000,000 |
License Second Anniversary Payment [Member] | |
License Fees | $ 2,000,000 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - shares | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2,965,451 | 204,553 | 2,550,184 | 78,754 | 1,001,948 | 558 |
Minimum [Member] | ||||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |||||
Maximum [Member] | ||||||
Property, Plant and Equipment, Useful Life (Year) | 5 years |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 19,656 | $ 8,350 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Property and equipment, gross | $ 707,159 | $ 659,441 | $ 661,918 |
Accumulated depreciation and amortization | (538,506) | (511,700) | (651,312) |
Property and equipment, net | 168,653 | 147,741 | 10,606 |
Laboratory Equipment [Member] | |||
Property and equipment, gross | 532,100 | 534,577 | |
Leasehold Improvements [Member] | |||
Property and equipment, gross | $ 115,605 | 115,605 | 115,605 |
Other Furniture Fixtures And Equipment [Member] | |||
Property and equipment, gross | $ 11,736 | $ 11,736 |
Note 4 - Accrued Expenses - Sch
Note 4 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Accrued salaries | $ 11,212 | $ 279,696 | $ 1,732,702 |
Other accrued expenses | 35,000 | 79,585 | 118,338 |
Total accrued expenses | $ 46,212 | $ 359,281 | $ 1,851,040 |
Note 5 - Notes Payable (Details
Note 5 - Notes Payable (Details Textual) - USD ($) | Apr. 17, 2020 | Feb. 28, 2018 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Proceeds from Notes Payable, Total | $ 0 | $ 170,200 | $ 170,200 | $ 0 | ||||
Interest Expense, Total | $ 0 | $ 134,427 | 1,286 | 142,722 | 143,524 | 4,495 | ||
Paycheck Protection Program CARES Act [Member] | ||||||||
Proceeds from Notes Payable, Total | $ 170,200 | |||||||
Interest Expense, Debt, Total | 0 | 429 | 653 | 774 | 1,203 | |||
Senior Notes [Member] | ||||||||
Debt Instrument, Term (Year) | 5 years | |||||||
Proceeds from Notes Payable, Total | $ 50,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | |||||||
Long-Term Debt, Maturity, Year One | 12,487 | |||||||
Long-Term Debt, Maturity, Year Two | 13,126 | |||||||
Long-Term Debt, Maturity, Year Three | 2,252 | |||||||
Interest Expense, Total | $ 1,727 | $ 2,097 | ||||||
Interest Expense, Debt, Total | $ 0 | $ 411 | $ 633 | $ 1,344 |
Note 6 - Convertible Debentur_2
Note 6 - Convertible Debentures (Details Textual) | Sep. 29, 2020USD ($)$ / sharesshares | Jun. 26, 2020USD ($)$ / sharesshares | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2019USD ($) | Sep. 24, 2020$ / sharesshares |
Proceeds from Convertible Debt | $ 0 | $ 888,500 | $ 888,500 | $ 0 | |||
Number of Common Stock Securities Called by Each Unit (in shares) | shares | 1 | ||||||
Amortization of Debt Discount (Premium) | $ 0 | $ 124,185 | $ 124,185 | $ 0 | |||
Conversion from Convertible Debentures to Conversion Units [Member] | |||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 4 | ||||||
Debt Conversion, Original Debt, Amount | $ 1,200,000 | ||||||
Debt Conversion, Accrued Interest Amount | $ 14,667 | ||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 303,668 | ||||||
Conversion from Convertible Debentures to Conversion Units [Member] | Conversion Units Tranche One [Member] | |||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 177,626 | ||||||
Number of Common Stock Securities Called by Each Unit (in shares) | shares | 1 | ||||||
Conversion from Convertible Debentures to Conversion Units [Member] | Conversion Units Tranche Two [Member] | |||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 126,042 | ||||||
June 2020 Warrants [Member] | |||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 120,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 5 | $ 10 | $ 5 | ||||
Warrants and Rights Outstanding | $ 457,833 | ||||||
Payments of Debt Issuance Costs | $ 161,500 | ||||||
Conversion Warrant [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 1 | ||||||
Pre-Funded Warrants [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 250,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | ||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 1 | 1 | |||||
Pre-Funded Warrants [Member] | Conversion from Convertible Debentures to Conversion Units [Member] | Conversion Units Tranche Two [Member] | |||||||
Number of Warrants Called by Each Unit (in shares) | shares | 1 | ||||||
Unit Warrants [Member] | |||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 2,560,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 5 | ||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 1 | ||||||
Convertible Debentures [Member] | |||||||
Number of Institutional Investors | 2 | ||||||
Proceeds from Convertible Debt, Gross | $ 1,050,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||||||
Debt Instrument, Face Amount | $ 1,200,000 | ||||||
Proceeds from Convertible Debt | $ 888,500 | ||||||
Debt Instrument, Term (Year) | 12 months | ||||||
Gross Proceeds from Issuance of Common Stock, Public Offering | $ 6,000,000 | ||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 10 | ||||||
Percentage of Offering Price | 80.00% | ||||||
Debt Instrument, Convertible, Maximum Allowed Ownership of Common Stock Outstanding, Percentage | 4.99% | ||||||
Debt Instrument, Unamortized Discount, Total | $ 645,150 | $ 769,334 | |||||
Debt Conversion, Original Debt Discount | $ 150,000 | ||||||
Interest Expense, Debt, Total | $ 138,851 | ||||||
Amortization of Debt Discount (Premium) | $ 124,185 |
Note 7 - Commitments (Details T
Note 7 - Commitments (Details Textual) | 12 Months Ended | ||
Dec. 31, 2020USD ($)ft² | Dec. 31, 2019USD ($) | Sep. 30, 2021USD ($) | |
Area of Real Estate Property (Square Foot) | ft² | 8,400 | ||
Operating Leases, Rent Expense, Total | $ 166,577 | $ 161,673 | |
Lessee, Operating Lease, Liability, to be Paid, Year One | 171,213 | ||
Lessee, Operating Lease, Liability, to be Paid, Year Two | 176,356 | ||
Unrecorded Unconditional Purchase Obligation, Total | 190,000 | $ 607,000 | |
Unrecorded Unconditional Purchase Obligation Reimbursable, Amount | $ 165,500 |
Note 8 - Stockholders' Equity_2
Note 8 - Stockholders' Equity (Details Textual) | Feb. 11, 2021$ / sharesshares | Sep. 29, 2020USD ($)$ / sharesshares | Sep. 25, 2020 | Sep. 24, 2020USD ($)$ / sharesshares | Jan. 21, 2020 | Apr. 30, 2019 | Apr. 26, 2019USD ($)shares | Feb. 26, 2019USD ($) | Feb. 25, 2019USD ($) | Jul. 31, 2020shares | Jan. 31, 2020USD ($)shares | Jul. 31, 2019USD ($)shares | Feb. 28, 2019shares | Sep. 30, 2021USD ($)$ / sharesshares | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)$ / sharesshares | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Jun. 26, 2020$ / sharesshares |
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | ||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 100 | 2,486 | ||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,644,000 | |||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Gross | $ | $ 12,800,000 | |||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 11,200,000 | |||||||||||||||||||
Number of Common Stock Securities Called by Each Unit (in shares) | 1 | |||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 6.25 | |||||||||||||||||||
Deferred Compensation Liability Conversion to Equity, Amount | $ | $ 1,500,000 | |||||||||||||||||||
Deferred Compensation Liability Conversion to Equity, Conversion Price (in dollars per share) | $ / shares | $ 5 | |||||||||||||||||||
Stock Issued During Period, Shares, Cancellation of Accrued Compensation (in shares) | 300,001 | |||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares) | 177,626 | |||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 13,707 | 26,581 | 162 | |||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 36,902 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 110.00% | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 1.12 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 602,000 | 0 | |||||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | $ 655,510 | |||||||||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 3,600,337 | |||||||||||||||||||
Prepaid Expense, Value of Stock Issued for Services During Period | $ | $ 39,773 | $ 39,773 | $ 48,667 | |||||||||||||||||
Expense Related To Consulting And Investment Banking Agreements [Member] | ||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ | 45,733 | $ 223,080 | ||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | ||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ | $ 56,190 | $ 0 | $ 168,570 | $ 0 | $ 18,730 | $ 104,420 | ||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 2 months 12 days | 2 years 10 months 24 days | ||||||||||||||||||
Stock Incentive Plan 2020 [Member] | ||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 1,500,000 | 1,500,000 | 1,000,000 | |||||||||||||||||
Conversion from Convertible Debentures to Conversion Units [Member] | ||||||||||||||||||||
Debt Conversion, Converted Instrument, Principal and Interest, Amount | $ | $ 1,214,667 | |||||||||||||||||||
Conversion Warrants [Member] | ||||||||||||||||||||
Class Of Warrant Or Right, Issued During Period (in shares) | 2,560,000 | |||||||||||||||||||
Conversion Warrants [Member] | Conversion from Convertible Debentures to Conversion Units [Member] | ||||||||||||||||||||
Debt Conversion, Converted Instrument, Warrants or Options Issued (in shares) | 303,668 | |||||||||||||||||||
Unit Warrant [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) | $ / shares | $ 5 | |||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||||||||||
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) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | |||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 250,000 | |||||||||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 126,042 | |||||||||||||||||||
Pre-Funded Warrants [Member] | Conversion from Convertible Debentures to Conversion Units [Member] | ||||||||||||||||||||
Debt Conversion, Converted Instrument, Warrants or Options Issued (in shares) | 126,042 | |||||||||||||||||||
Representative Warrants [Member] | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 6.875 | $ 5.50 | $ 5.50 | |||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 3 years | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 72,000 | 128,000 | 128,000 | |||||||||||||||||
Class of Warrant or Right, Period for Warrants or Rights Exercisable (Day) | 180 days | |||||||||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 128,000 | |||||||||||||||||||
Management Warrant [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 300,001 | |||||||||||||||||||
Number of Warrants Called by Each Unit (in shares) | 1 | |||||||||||||||||||
Series I Warrants [Member] | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 5 | |||||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 29,755 | |||||||||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 62,626 | |||||||||||||||||||
June 2020 Warrants [Member] | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 5 | $ 5 | $ 10 | |||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 120,000 | |||||||||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 120,000 | |||||||||||||||||||
Unit 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) | $ / shares | $ 5 | |||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,560,000 | |||||||||||||||||||
Reverse Stock Split [Member] | ||||||||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 20 | 2,000 | 500 | |||||||||||||||||
Series G Convertible Preferred Stock and Related Warrants [Member] | ||||||||||||||||||||
Convertible Preferred Stock and Related Warrants, Authorized (in shares) | 1,000 | |||||||||||||||||||
Proceeds from Issuance of Convertible Preferred Stock and Related Warrants, Maximum | $ | $ 250,000 | $ 1,000,000 | ||||||||||||||||||
Convertible Preferred Stock and Related Warrants Issued (in shares) | 500 | 500 | ||||||||||||||||||
Series G Convertible Preferred Stock [Member] | ||||||||||||||||||||
Proceeds from Issuance of Convertible Preferred Stock and Related Warrants, Maximum | $ | $ 500,000 | |||||||||||||||||||
Capital Units [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,560,000 | |||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 5 | |||||||||||||||||||
Conversion of Series C Preferred Stock Into Common Stock [Member] | ||||||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 587 | |||||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 2 | |||||||||||||||||||
Conversion of Series C Preferred Stock Into Series F Preferred Stock [Member] | ||||||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 1,563 | |||||||||||||||||||
Conversion of Series E Preferred Stock Into Series F Preferred Stock [Member] | ||||||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 1,200 | |||||||||||||||||||
Conversion of Series F Preferred Stock Into Common Stock [Member] | ||||||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 507 | |||||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 9 | |||||||||||||||||||
Conversion from Series F Preferred Stock to Series H Preferred Stock [Member] | ||||||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 2,256 | |||||||||||||||||||
Conversion of Series H Preferred Stock Into Common Stock [Member] | ||||||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 1,686 | 1,570 | ||||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 469,697 | 14,808 | ||||||||||||||||||
Conversion of Series I Preferred Stock Into Common Stock [Member] | ||||||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 700 | |||||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 204,371 | |||||||||||||||||||
Conversion of Series J Preferred Stock into Common Stock [Member] | ||||||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 300 | |||||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 42,723 | |||||||||||||||||||
Conversion of Series H, Series I, and Series J Preferred Stock into Common Stock [Member] | ||||||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 716,790 | 14,819 | ||||||||||||||||||
Series B Convertible Preferred Stock [Member] | ||||||||||||||||||||
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 | |||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 1,000 | $ 1,000 | $ 1,000 | |||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | 100 | 100 | ||||||||||||||||
Convertible Preferred Stock, Conversion Price1 (in dollars per share) | $ / shares | $ 7,000,000 | |||||||||||||||||||
Series C Convertible Preferred Stock [Member] | ||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 1,000 | |||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | |||||||||||||||||||
Series E Convertible Preferred Stock [Member] | ||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 1,000 | |||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | |||||||||||||||||||
Series F Convertible Preferred Stock [Member] | ||||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | |||||||||||||||||||
Number of Series C and Series E Preferred Stock Exchanged for Series F Convertible Preferred Stock (in shares) | 2,763 | |||||||||||||||||||
Series G Convertible Preferred Stock [Member] | ||||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 1,000 | 0 | ||||||||||||||||||
Series H Convertible Preferred Stock [Member] | ||||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 1,686 | ||||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 3,256 | |||||||||||||||||||
Series I Convertible Preferred Stock [Member] | ||||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 700 | ||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 700 | |||||||||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ | $ 700,000 | |||||||||||||||||||
Series J Convertible Preferred Stock [Member] | ||||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 300 | |||||||||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ | $ 300,000 | |||||||||||||||||||
Capital Units Tranche One [Member] | Capital Units [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,310,000 | |||||||||||||||||||
Number of Common Stock Securities Called by Each Unit (in shares) | 1 | |||||||||||||||||||
Capital Units Tranche Two [Member] | Capital Units [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 250,000 | |||||||||||||||||||
Units Including Pre-Funded Warrants [Member] | Capital Units [Member] | ||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 4.99 |
Note 8 - Stockholders' Equity -
Note 8 - Stockholders' Equity - Preferred Stock Summary (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Preferred stock, shares outstanding (in shares) | 100 | 2,486 | |
Preferred Stock | $ 0 | $ 76,095 | $ 1,932,433 |
Series B Convertible Preferred Stock [Member] | |||
Preferred stock, shares outstanding (in shares) | 0 | 100 | 100 |
Preferred Stock | $ 76,095 | $ 76,095 | |
Series H Convertible Preferred Stock [Member] | |||
Preferred stock, shares outstanding (in shares) | 0 | 1,686 | |
Preferred Stock | $ 0 | $ 1,156,338 | |
Series I Convertible Preferred Stock [Member] | |||
Preferred stock, shares outstanding (in shares) | 0 | 700 | |
Preferred Stock | $ 0 | $ 700,000 |
Note 8 - Stockholders' Equity_3
Note 8 - Stockholders' Equity - Significant Assumption Used in Fair Value Calculation (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Weighted average risk-free interest rates | 0.69% |
Expected dividend yield | 0.00% |
Expected life of option (Year) | 7 years |
Expected volatility | 38.16% |
Note 8 - Stockholders' Equity-
Note 8 - Stockholders' Equity- Stock Option Activity (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Outstanding, shares (in shares) | 602,000 | 0 | |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 2.79 | $ 2.79 | $ 0 |
Granted, shares (in shares) | 0 | 602,000 | 0 |
Granted, Weighted Average Exercise Price (in dollars per share) | $ 2.79 | ||
Exercised, shares (in shares) | 0 | ||
Exercised, Weighted Average Exercise Price (in dollars per share) | $ 0 | ||
Forfeited or expired, shares (in shares) | 0 | ||
Forfeited or expired, Weighted Average Exercise Price (in dollars per share) | $ 0 | ||
Outstanding, shares (in shares) | 602,000 | 602,000 | 0 |
Outstanding, Weighted Average Remaining Contractual Term (Year) | 9 years 2 months 12 days | 9 years 10 months 24 days | |
Outstanding, Intrinsic Value | $ 355,180 | ||
Exercisable, shares (in shares) | 0 | ||
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 0 | ||
Exercisable, Intrinsic Value | $ 0 |
Note 8 - Stockholders' Equity_4
Note 8 - Stockholders' Equity - Summary of Warrants (Details) - $ / shares | Feb. 11, 2021 | Dec. 31, 2020 | Sep. 29, 2020 | Sep. 24, 2020 | Jun. 26, 2020 |
Number of warrants (in shares) | 3,600,337 | ||||
Weighted Average [Member] | |||||
Exercise price (in dollars per share) | $ 4.84 | ||||
Series I Warrants [Member] | |||||
Number of warrants (in shares) | 62,626 | ||||
Exercise price (in dollars per share) | $ 5 | ||||
June 2020 Warrants [Member] | |||||
Number of warrants (in shares) | 120,000 | ||||
Exercise price (in dollars per share) | $ 5 | $ 5 | $ 10 | ||
Weighted-Average Remaining Life (excluding Pre-Funded Warrants) (years) (Year) | 5 years | ||||
Pre-Funded Warrants [Member] | |||||
Number of warrants (in shares) | 126,042 | ||||
Exercise price (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | ||
Unit, Conversion and Management Warrants [Member] | |||||
Number of warrants (in shares) | 3,163,669 | ||||
Exercise price (in dollars per share) | $ 5 | ||||
Representative Warrants [Member] | |||||
Number of warrants (in shares) | 128,000 | ||||
Exercise price (in dollars per share) | $ 6.875 | $ 5.50 | $ 5.50 | ||
Weighted-Average Remaining Life (excluding Pre-Funded Warrants) (years) (Year) | 3 years | ||||
Outstanding Warrants Excluding Pre-Funded Warrants [Member] | Weighted Average [Member] | |||||
Weighted-Average Remaining Life (excluding Pre-Funded Warrants) (years) (Year) | 4 years 8 months 12 days |
Note 9 - Retirement Plan (Detai
Note 9 - Retirement Plan (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 27,511 | $ 25,876 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Income Taxes Paid | $ 0 | $ 0 |
Research Tax Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | 1,200 | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | 61,800 | |
Operating Loss Carryforwards, Subject to Expiration | $ 53,600 |
Note 10 - Income Taxes - Deferr
Note 10 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Net operating loss carryforward | $ 14,737,240 | $ 15,328,336 |
Research and development tax credit carryforward | 1,189,110 | 1,122,536 |
Stock-based compensation expense | 4,870 | 1,877,284 |
Accrued salaries and directors’ fees | 72,721 | 450,503 |
Depreciation | 0 | 8,571 |
Total deferred tax assets | 16,003,941 | 18,787,230 |
Depreciation | 28,274 | 0 |
Net deferred tax assets | 15,975,667 | 18,787,230 |
Valuation allowance | (15,975,667) | (18,787,230) |
Net deferred tax asset after reduction for valuation allowance | $ 0 | $ 0 |
Note 10 - Income Taxes - Reconc
Note 10 - Income Taxes - Reconciliation of Income Tax Benefit (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
U.S. federal statutory rate applied to pretax loss | $ (621,194) | $ (497,833) |
Permanent differences | 65 | 278 |
Research and development credits | (66,574) | (47,053) |
Change in valuation allowance, net of expired items and other adjustments | 687,703 | 544,308 |
Reported income tax expense | $ 0 | $ 0 |
Note 11 - Grants and Collabor_2
Note 11 - Grants and Collaboration Revenue (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 30,414 | $ 415,458 | $ 220,539 | $ 1,572,037 | $ 1,823,658 | $ 1,175,896 |
Unused Grant Funds | 244,888 | 244,888 | 165,500 | |||
NIH Grants [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 30,414 | $ 231,330 | $ 220,539 | $ 1,186,844 | 1,438,465 | 983,682 |
Research Agreements [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 385,193 | $ 192,214 |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - USD ($) | Feb. 11, 2021 | Aug. 31, 2021 | Feb. 28, 2021 | Jan. 31, 2021 | Jul. 31, 2020 | Feb. 28, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Revenue from Contract with Customer, Including Assessed Tax | $ 30,414 | $ 415,458 | $ 220,539 | $ 1,572,037 | $ 1,823,658 | $ 1,175,896 | ||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 36,902 | |||||||||||
Proceeds from Warrant Exercises | $ 230,000 | $ 3,174,156 | $ 3,404,156 | $ 0 | $ 2,500 | $ 0 | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,644,000 | |||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 6.25 | |||||||||||
Proceeds from Issuance of Common Stock | $ 9,400,000 | |||||||||||
Over-Allotment Option [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 204,000 | |||||||||||
Series I Warrants [Member] | ||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 29,755 | |||||||||||
Subsequent Event [Member] | ||||||||||||
Proceeds from Warrant Exercises | $ 3,174,156 | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,644,000 | |||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 6.25 | |||||||||||
Proceeds from Issuance of Common Stock | $ 9,400,000 | |||||||||||
Subsequent Event [Member] | Over-Allotment Option [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 204,000 | |||||||||||
Subsequent Event [Member] | Series I Warrants [Member] | ||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 62,626 | |||||||||||
Subsequent Event [Member] | Pre-Funded Warrants [Member] | ||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 126,042 | |||||||||||
Subsequent Event [Member] | Unit Warrants [Member] | ||||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 690,034 | |||||||||||
Subsequent Event [Member] | Common Stock Warrants [Member] | ||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 835,900 | |||||||||||
SBIR Grant [Member] | Subsequent Event [Member] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 299,927 |
Schedule II - Valuation and Q_3
Schedule II - Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance at Beginning Of Period | $ 18,787,230 | $ 19,879,954 |
Additions Charged to Costs and Expenses | (2,811,563) | (1,092,724) |
Additions Charged to Other Accounts | 0 | 0 |
Deductions | 0 | 0 |
Balance at End Of Period | $ 15,975,667 | $ 18,787,230 |