Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | May 14, 2024 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
Document Transition Report | false | |
Entity File Number | 001-39563 | |
Entity Registrant Name | GEOVAX LABS, INC. | |
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 Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 2,308,309 | |
Entity Central Index Key | 0000832489 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock $0.001 par value | |
Trading Symbol | GOVX | |
Security Exchange Name | NASDAQ | |
Warrants to Purchase Common Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Warrants to Purchase Common Stock | |
Trading Symbol | GOVXW | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Assets [Abstract] | ||
Cash and cash equivalents | $ 768,859 | $ 6,452,589 |
Prepaid expenses | 2,093,519 | 1,433,153 |
Total current assets | 2,862,378 | 7,885,742 |
Property and equipment, net | 190,113 | 209,689 |
Other assets | 305,691 | 1,187,788 |
Total assets | 3,358,182 | 9,283,219 |
Current liabilities: | ||
Accounts payable | 1,883,844 | 2,802,950 |
Accrued expenses | 1,420,063 | 716,931 |
Total current liabilities | 3,303,907 | 3,519,881 |
Equity [Abstract] | ||
Common stock, $.001 par value: Authorized shares – 150,000,000 and 600,000,000 at March 31, 2024 and December 31, 2023, respectively; Issued and outstanding shares – 2,308,309 and 1,977,152 at March 31, 2024 and December 31, 2023, respectively | 2,308 | 1,977 |
Additional paid-in capital | 110,265,884 | 110,125,146 |
Accumulated deficit | (110,213,917) | (104,363,785) |
Total stockholders’ equity | 54,275 | 5,763,338 |
Total liabilities and stockholders’ equity | $ 3,358,182 | $ 9,283,219 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2024 | Dec. 31, 2023 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 150,000,000 | 600,000,000 |
Common Stock, Shares Authorized (in shares) | 150,000,000 | 600,000,000 |
Common Stock, Shares, Issued (in shares) | 2,308,309 | 1,977,152 |
Common Stock, Shares, Outstanding (in shares) | 2,308,309 | 1,977,152 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Operating expenses: | ||
Research and development | $ 4,425,728 | $ 2,819,189 |
General and administrative | 1,457,353 | 1,451,425 |
Total operating expenses | 5,883,081 | 4,270,614 |
Loss from operations | (5,883,081) | (4,270,614) |
Other income: | ||
Interest income | 32,949 | 232,698 |
Net loss | $ (5,850,132) | $ (4,037,916) |
Basic and diluted: | ||
Net loss per common share (in dollars per share) | $ (2.47) | $ (2.3) |
Weighted average shares outstanding (in shares) | 2,367,050 | 1,755,905 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2022 | 1,755,664 | |||
Balance at Dec. 31, 2022 | $ 1,756 | $ 104,995,301 | $ (78,397,023) | $ 26,600,034 |
Issuance of common stock for services (in shares) | 7,246 | |||
Issuance of common stock for services | $ 7 | 74,993 | 0 | 75,000 |
Stock option expense | 0 | 228,039 | 0 | 228,039 |
Net loss | $ 0 | 0 | (4,037,916) | (4,037,916) |
Balance (in shares) at Mar. 31, 2023 | 1,762,910 | |||
Balance at Mar. 31, 2023 | $ 1,763 | 105,298,333 | (82,434,939) | 22,865,157 |
Balance (in shares) at Dec. 31, 2023 | 1,977,152 | |||
Balance at Dec. 31, 2023 | $ 1,977 | 110,125,146 | (104,363,785) | $ 5,763,338 |
Issuance of common stock for services (in shares) | 6,703 | 6,703 | ||
Issuance of common stock for services | $ 7 | 37,493 | 0 | $ 37,500 |
Issuance of common stock upon warrant exercise (in shares) | 269,032 | |||
Issuance of common stock upon warrant exercise | $ 269 | (269) | 0 | $ 0 |
Fractional share roundup following reverse split (in shares) | 55,422 | 55,422 | ||
Fractional share roundup following reverse split | $ 55 | (55) | 0 | $ 0 |
Stock option expense | 0 | 103,569 | 0 | 103,569 |
Net loss | $ 0 | 0 | (5,850,132) | (5,850,132) |
Balance (in shares) at Mar. 31, 2024 | 2,308,309 | |||
Balance at Mar. 31, 2024 | $ 2,308 | $ 110,265,884 | $ (110,213,917) | $ 54,275 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net loss | $ (5,850,132) | $ (4,037,916) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 19,576 | 17,319 |
Stock-based compensation expense | 157,736 | 246,039 |
Changes in assets and liabilities: | ||
Prepaid expenses and other current assets | 677,033 | 755,973 |
Other assets | (882,097) | (976,498) |
Accounts payable and accrued expenses | (215,974) | (208,839) |
Total adjustments | 166,402 | 275,044 |
Net cash used in operating activities | (5,683,730) | (3,762,872) |
Net decrease in cash and cash equivalents | (5,683,730) | (3,762,872) |
Cash and cash equivalents at beginning of period | 6,452,589 | 27,612,732 |
Cash and cash equivalents at end of period | $ 768,859 | $ 23,849,860 |
Note 1 - Nature of Business
Note 1 - Nature of Business | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Nature of Business GeoVax Labs, Inc., headquartered in the Atlanta, Georgia metropolitan area, is a clinical-stage biotechnology company incorporated under the laws of the State of Delaware. GeoVax Labs, Inc. and its wholly owned subsidiary, GeoVax, Inc., a Georgia corporation, are collectively referred to herein as “GeoVax” or “the Company”. The Company is focused on developing immunotherapies and vaccines against cancers and infectious diseases using novel vector vaccine platforms. GeoVax’s product pipeline includes ongoing human clinical trials for a next-generation Covid-19 vaccine and a gene-directed therapy for advanced head and neck cancer. Additional preclinical research and development programs include preventive vaccines against Mpox (monkeypox), hemorrhagic fever viruses (Ebola Zaire, Ebola Sudan, Marburg, and Lassa Fever), Zika virus, and malaria, as well as immunotherapies for solid tumors. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies We disclosed in Note 2 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023 those accounting policies that we consider significant in determining our results of operations and financial position. During the three months ended March 31, 2024, there have been no material changes to, or in the application of, the accounting policies previously identified and described in the Form 10-K. Basis of Presentation The accompanying financial statements include the accounts of GeoVax Labs, Inc. and GeoVax, Inc. All intercompany transactions have been eliminated in consolidation. The financial statements are unaudited, but include all adjustments, consisting of normal recurring entries, which we believe to be necessary for a fair presentation of interim periods presented. Interim results are not necessarily indicative of results for a full year. The financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023. We expect our operating results to fluctuate for the foreseeable future; therefore, period-to-period comparisons should not be relied upon as predictive of the results in future periods. We are devoting substantially all of our present efforts to research and development of our vaccine and immunotherapy candidates and will require additional funding to continue our research and development activities. Our existing cash resources are insufficient to continue our planned operations beyond the second quarter of 2024 without additional funding, which we are actively pursuing. We plan to pursue additional cash resources through public or private equity or debt financings, government grants/contracts, arrangements with strategic partners, or from other sources. There can be no assurance that additional funding will be available on favorable terms or at all. These factors collectively raise substantial doubt about the Company’s ability to continue as a going concern. Management believes that we will be successful in securing the additional capital required to continue the Company’s planned operations, but that our plans do not fully alleviate the substantial doubt about the Company’s ability to operate as a going concern. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above. The accompanying consolidated financial statements, and all share and per share information contained herein, have been retroactively restated to reflect the reverse stock split described in Note 5. Recent Accounting Pronouncements During the three months ended March 31, 2024, there have been no new accounting pronouncements or changes in accounting pronouncements which we expect to have a material impact on our financial statements. |
Note 3 - Balance Sheet Componen
Note 3 - Balance Sheet Components | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 3. Balance Sheet Components Prepaid Expenses March 31, 2024 December 31, 2023 Prepaid clinical trial costs (current portion) $ 1,996,677 $ 1,282,746 Prepaid insurance premiums 73,797 110,695 Prepaid rent 13,045 13,045 Other prepaid expenses 10,000 26,667 Total prepaid expenses $ 2,093,519 $ 1,433,153 Property and Equipment March 31, 2024 December 31, 2023 Equipment and furnishings $ 774,758 $ 774,758 Leasehold improvements 115,605 115,605 Total property and equipment 890,363 890,363 Accumulated depreciation and amortization (700,250 ) (680,674 ) Total property and equipment, net $ 190,113 $ 209,689 Other Assets March 31, 2024 December 31, 2023 Prepaid clinical trial costs (noncurrent portion) $ 224,681 $ 1,106,778 Prepaid technology license fees 70,000 70,000 Deposits 11,010 11,010 Total other assets $ 305,691 $ 1,187,788 Accrued Expenses March 31, 2024 December 31, 2023 Payroll-related liabilities $ 152,407 $ 114,337 Other accrued expenses 1,267,656 602,594 Total accrued expenses $ 1,420,063 $ 716,931 |
Note 4 -Commitments
Note 4 -Commitments | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | 4. Commitments Operating Lease. License Agreements. Other Commitments |
Note 5 - Stockholders' Equity
Note 5 - Stockholders' Equity | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Equity [Text Block] | 5. Stockholders Equity Reverse Stock Split and Reduction of Authorized Shares of Common Stock At a special meeting of our stockholders held on January 16, 2024, our stockholders approved an amendment to our certificate of incorporation to (i) reduce our authorized shares of common stock from 600,000,000 to 150,000,000 and (ii) effect a one-for-fifteen reverse split of our common stock. The amendment to our certificate of incorporation was filed with the Delaware Secretary of State on January 30, 2024 and our common stock began trading on the split-adjusted basis on January 31, 2024. The accompanying consolidated financial statements, and all share and per share information contained herein, have been retroactively restated to reflect the reverse stock split. Common Stock Transactions During January 2024, we issued 6,703 shares of our common stock pursuant to a professional relations and consulting agreement and we issued 55,422 shares of our common stock for the roundup of fractional shares associated with the reverse stock split. In February and March 2024, we issued 133,032 and 136,000 shares of our common stock, respectively, pursuant to the exercise of prefunded warrants. Stock Options We have stock-based incentive plans (the “Plans”) pursuant to which our Board of Directors may grant stock options and other stock-based awards to our employees, directors and consultants. During the three months ended March 31, 2024, 961 stock options were cancelled and there were no new grants of stock options or other transactions related to the Plans. As of March 31, 2024, there are 133,648 stock options outstanding, with a weighted-average exercise price of $28.39 per share and a weighted-average remaining contractual term of 7.9 years. Including the outstanding stock options, a total of 333,648 shares of our common stock are reserved for future issuance pursuant to the Plans. Stock Purchase Warrants We have issued stock purchase warrants in connection with past financing and licensing transactions. As described under “Common Stock Transactions” above, during the three months ended March 31, 2024, we issued 269,032 shares of our common stock pursuant to the exercise of prefunded warrants; there were no other transactions related to our stock purchase warrants. The table below summarizes information concerning warrants outstanding as of March 31, 2024. Issue Date Number of Shares Exercise Price Expiration June 2020 8,000 $ 6.21 June 2025 September 2020 159,781 75.00 September 2025 February 2021 4,800 103.13 August 2024 September 2021 6,668 195.00 September 2026 December 2023 238,000 -0- n/a December 2023 1,408,998 6.21 June 2029 Outstanding at March 31, 2024 1,826,247 |
Note 6 - Stock-Based Compensati
Note 6 - Stock-Based Compensation Expense | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 6. Stock-Based Compensation Expense Stock-based compensation expense related to stock options is recognized on a straight-line basis over the requisite service period for the award and is allocated to research and development expense or general and administrative expense based upon the classification of the individuals to whom the awards are granted. Stock-based compensation expense related to stock option grants was $103,569 and $228,039 during the three-month periods ended March 31, 2024 and 2023, respectively, and as of March 31, 2024, there is $451,023 of unrecognized compensation expense that we expect to recognize over a weighted-average period of 1.3 years. We have also issued shares of our restricted common stock to consultants and recognize the related expense over the terms of the related agreements. During the three-month periods ended March 31, 2024 and 2023 we recorded stock-based compensation expense of $54,167 and $18,000, respectively, associated with common stock issued for consulting services. |
Note 7 - Net Loss Per Share
Note 7 - Net Loss Per Share | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 7. Net Loss Per Share Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. The Company’s potentially dilutive securities, which include stock options and stock purchase warrants, have been excluded from the computation of diluted net loss per share as the effect would be antidilutive. The securities that could potentially dilute basic earnings per share in the future and that have been excluded from the computation of diluted net loss per share totaled 1,721,895 and 1,029,529 shares at March 31, 2024 and 2023, respectively. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 8. Income Taxes No provision for income taxes was recorded in either of the three-month periods ended March 31, 2024 and 2023. The Company remains in a cumulative loss position with a full valuation allowance recorded against its net deferred income tax assets as of March 31, 2024. |
Note 9 - Subsequent Events
Note 9 - Subsequent Events | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 9. Subsequent Events On May 10, 2024, we conducted a bridge financing through the issuance and sale of 10% Original Issue Discount Promissory Notes (the “Notes”) with an aggregate principal amount of $150,000 to members of our Board of Directors and senior management. The Notes are unsecured, bear interest at a rate of 15% per annum, and mature upon the earlier of (i) six months from the issue date or (ii) three days following the date the Company completes an offering of its common stock with gross proceeds of not less than $5 million. |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | Item 5 Other Information During the period covered by this report, none During the period covered by this report, there was no information required to be disclosed by us in a Current Report on Form 8-K that was not so reported, nor were there any material changes to the procedures by which our security holders may recommend nominees to our board of directors. |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying financial statements include the accounts of GeoVax Labs, Inc. and GeoVax, Inc. All intercompany transactions have been eliminated in consolidation. The financial statements are unaudited, but include all adjustments, consisting of normal recurring entries, which we believe to be necessary for a fair presentation of interim periods presented. Interim results are not necessarily indicative of results for a full year. The financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023. We expect our operating results to fluctuate for the foreseeable future; therefore, period-to-period comparisons should not be relied upon as predictive of the results in future periods. We are devoting substantially all of our present efforts to research and development of our vaccine and immunotherapy candidates and will require additional funding to continue our research and development activities. Our existing cash resources are insufficient to continue our planned operations beyond the second quarter of 2024 without additional funding, which we are actively pursuing. We plan to pursue additional cash resources through public or private equity or debt financings, government grants/contracts, arrangements with strategic partners, or from other sources. There can be no assurance that additional funding will be available on favorable terms or at all. These factors collectively raise substantial doubt about the Company’s ability to continue as a going concern. Management believes that we will be successful in securing the additional capital required to continue the Company’s planned operations, but that our plans do not fully alleviate the substantial doubt about the Company’s ability to operate as a going concern. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above. The accompanying consolidated financial statements, and all share and per share information contained herein, have been retroactively restated to reflect the reverse stock split described in Note 5. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements During the three months ended March 31, 2024, there have been no new accounting pronouncements or changes in accounting pronouncements which we expect to have a material impact on our financial statements. |
Note 3 - Balance Sheet Compon_2
Note 3 - Balance Sheet Components (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | March 31, 2024 December 31, 2023 Prepaid clinical trial costs (current portion) $ 1,996,677 $ 1,282,746 Prepaid insurance premiums 73,797 110,695 Prepaid rent 13,045 13,045 Other prepaid expenses 10,000 26,667 Total prepaid expenses $ 2,093,519 $ 1,433,153 |
Property, Plant and Equipment [Table Text Block] | March 31, 2024 December 31, 2023 Equipment and furnishings $ 774,758 $ 774,758 Leasehold improvements 115,605 115,605 Total property and equipment 890,363 890,363 Accumulated depreciation and amortization (700,250 ) (680,674 ) Total property and equipment, net $ 190,113 $ 209,689 |
Schedule of Other Assets [Table Text Block] | March 31, 2024 December 31, 2023 Prepaid clinical trial costs (noncurrent portion) $ 224,681 $ 1,106,778 Prepaid technology license fees 70,000 70,000 Deposits 11,010 11,010 Total other assets $ 305,691 $ 1,187,788 |
Schedule of Accrued Liabilities [Table Text Block] | March 31, 2024 December 31, 2023 Payroll-related liabilities $ 152,407 $ 114,337 Other accrued expenses 1,267,656 602,594 Total accrued expenses $ 1,420,063 $ 716,931 |
Note 5 - Stockholders' Equity (
Note 5 - Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Issue Date Number of Shares Exercise Price Expiration June 2020 8,000 $ 6.21 June 2025 September 2020 159,781 75.00 September 2025 February 2021 4,800 103.13 August 2024 September 2021 6,668 195.00 September 2026 December 2023 238,000 -0- n/a December 2023 1,408,998 6.21 June 2029 Outstanding at March 31, 2024 1,826,247 |
Note 3 - Balance Sheet Compon_3
Note 3 - Balance Sheet Components - Prepaid Expenses (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Prepaid clinical trial costs (current portion) | $ 1,996,677 | $ 1,282,746 |
Prepaid insurance premiums | 73,797 | 110,695 |
Prepaid rent | 13,045 | 13,045 |
Other prepaid expenses | 10,000 | 26,667 |
Total prepaid expenses | $ 2,093,519 | $ 1,433,153 |
Note 3 - Balance Sheet Compon_4
Note 3 - Balance Sheet Components - Schedule of Property and Equipment (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Total property and equipment | $ 890,363 | $ 890,363 |
Accumulated depreciation and amortization | (700,250) | (680,674) |
Total property and equipment, net | 190,113 | 209,689 |
Equipment and Furnishings [Member] | ||
Total property and equipment | 774,758 | 774,758 |
Leasehold Improvements [Member] | ||
Total property and equipment | $ 115,605 | $ 115,605 |
Note 3 - Balance SHeet Compon_5
Note 3 - Balance SHeet Components - Schedule of Other Assets (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Prepaid clinical trial costs (noncurrent portion) | $ 224,681 | $ 1,106,778 |
Prepaid technology license fees | 70,000 | 70,000 |
Deposits | 11,010 | 11,010 |
Total other assets | $ 305,691 | $ 1,187,788 |
Note 3 - Balance Sheet Compon_6
Note 3 - Balance Sheet Components - Schedule of Accrued Expenses (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Payroll-related liabilities | $ 152,407 | $ 114,337 |
Other accrued expenses | 1,267,656 | 602,594 |
Total accrued expenses | $ 1,420,063 | $ 716,931 |
Note 4 -Commitments (Details Te
Note 4 -Commitments (Details Textual) - Office and Laboratory Lease Agreement [Member] | 3 Months Ended | |
Mar. 31, 2024 USD ($) ft² | Mar. 31, 2023 USD ($) | |
Area of Real Estate Property | ft² | 8,400 | |
Operating Lease, Expense | $ 46,764 | $ 45,414 |
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year | 140,292 | |
Lessee, Operating Lease, Liability, to be Paid, Year One | $ 192,708 |
Note 5 - Stockholders' Equity_2
Note 5 - Stockholders' Equity (Details Textual) - $ / shares | 1 Months Ended | 3 Months Ended | ||
Mar. 31, 2024 | Feb. 29, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | |
Common Stock, Shares Authorized (in shares) | 150,000,000 | 150,000,000 | 600,000,000 | |
Stock Issued During Period, Shares, Issued for Services (in shares) | 6,703 | |||
Stock Issued During Period, Shares, Reverse Stock Splits (in shares) | 55,422 | |||
Stock Issued During Period, Shares, Warrant Exercise (in shares) | 136,000 | 133,032 | 269,032 | |
Stock Incentive Plan 2020 [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 961 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | 133,648 | 133,648 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 28.39 | $ 28.39 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 7 years 10 months 24 days | |||
Common Stock, Capital Shares Reserved for Future Issuance | 333,648 | 333,648 |
Note 5 - Stockholders' Equity -
Note 5 - Stockholders' Equity - Schedule of Stock Warrants (Details) | Mar. 31, 2024 $ / shares shares |
Number of Shares (in shares) | 1,826,247 |
Warrants Expiration 1[Member] | |
Number of Shares (in shares) | 8,000 |
Exercise Price (in dollars per share) | $ / shares | $ 6.21 |
Warrants Expiration 2 [Member] | |
Number of Shares (in shares) | 159,781 |
Exercise Price (in dollars per share) | $ / shares | $ 75 |
Warrants Expiration 3 [Member] | |
Number of Shares (in shares) | 4,800 |
Exercise Price (in dollars per share) | $ / shares | $ 103.13 |
Warrants Expiration 4 [Member] | |
Number of Shares (in shares) | 6,668 |
Exercise Price (in dollars per share) | $ / shares | $ 195 |
Warrants Expiration 5 [Member] | |
Number of Shares (in shares) | 238,000 |
Exercise Price (in dollars per share) | $ / shares | $ 0 |
Warrants Expirations 6 [Member] | |
Number of Shares (in shares) | 1,408,998 |
Exercise Price (in dollars per share) | $ / shares | $ 6.21 |
Note 6 - Stock-Based Compensa_2
Note 6 - Stock-Based Compensation Expense (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 451,023 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 3 months 18 days | |
Expense Related To Consulting And Investment Banking Agreements [Member] | ||
Share-Based Payment Arrangement, Expense | $ 54,167 | $ 18,000 |
Share-Based Payment Arrangement, Option [Member] | ||
Share-Based Payment Arrangement, Expense | $ 103,569 | $ 228,039 |
Note 7 - Net Loss Per Share (De
Note 7 - Net Loss Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,721,895 | 1,029,529 |
Note 9 - Subsequent Events (Det
Note 9 - Subsequent Events (Details Textual) - The 10% Original Issue Discount Promissory Notes [Member] - Subsequent Event [Member] | May 10, 2024 USD ($) |
Debt Instrument, Issue Discount Percentage | 10% |
Debt Instrument, Face Amount | $ 150,000 |
Debt Instrument, Interest Rate, Stated Percentage | 15% |
Debt Instrument, Covenant, Maximum Proceeds From Stock Issuances | $ 5,000,000 |