GeoVax Labs (GOVX) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 06, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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)		5,263,700
Entity Central Index Key	0000832489
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
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 ($)	Jun. 30, 2024	Dec. 31, 2023
Assets [Abstract]
Cash and cash equivalents	$ 1,561,712	$ 6,452,589
Accounts receivable	300,677	0
Prepaid expenses	1,981,134	1,433,153
Total current assets	3,843,523	7,885,742
Property and equipment, net	170,537	209,689
Other assets	81,010	1,187,788
Total assets	4,095,070	9,283,219
Current liabilities:
Accounts payable	3,983,696	2,802,950
Notes payable and accrued interest – related parties	142,292	0
Accrued expenses	2,278,308	716,931
Total current liabilities	6,404,296	3,519,881
Equity [Abstract]
Issued and outstanding shares – 4,178,700 and 1,977,152 at June 30, 2024 and December 31, 2023, respectively	4,179	1,977
Additional paid-in capital	112,964,554	110,125,146
Accumulated deficit	(115,277,959)	(104,363,785)
Total stockholders’ equity (deficit)	(2,309,226)	5,763,338
Total liabilities and stockholders’ equity (deficit)	$ 4,095,070	$ 9,283,219

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 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, Outstanding (in shares)	4,178,700	1,977,152
Common Stock, Shares, Issued (in shares)	4,178,700	1,977,152

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from government contract	$ 300,677	$ 0	$ 300,677	$ 0
Operating expenses:
Research and development	4,276,868	4,719,728	8,702,596	7,538,917
General and administrative	1,086,030	1,459,093	2,543,383	2,910,518
Total operating expenses	5,362,898	6,178,821	11,245,979	10,449,435
Loss from operations	(5,062,221)	(6,178,821)	(10,945,302)	(10,449,435)
Other income (expense):
Interest income	5,471	251,201	38,420	483,899
Interest expense	(7,292)	0	(7,292)	0
Total other income (expense)	(1,821)	251,201	31,128	483,899
Net loss	$ (5,064,042)	$ (5,927,620)	$ (10,914,174)	$ (9,965,536)
Basic and diluted:
Net loss per common share (in dollars per share)	$ (1.99)	$ (3.79)	$ (4.68)	$ (5.66)
Weighted average shares outstanding (in shares)	2,539,878	1,562,910	2,334,464	1,759,427

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) (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, 2022	1,755,664
Balance at Dec. 31, 2022	$ 1,756	104,995,301	(78,397,023)	26,600,034
Net loss				(9,965,536)
Balance (in shares) at Jun. 30, 2023	1,762,910
Balance at Jun. 30, 2023	$ 1,763	105,524,346	(88,362,559)	17,163,550
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
Stock option expense	0	226,013	0	226,013
Net loss	$ 0	0	(5,927,620)	(5,927,620)
Balance (in shares) at Jun. 30, 2023	1,762,910
Balance at Jun. 30, 2023	$ 1,763	105,524,346	(88,362,559)	17,163,550
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
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
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
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
Net loss				(10,914,174)
Balance (in shares) at Jun. 30, 2024	4,178,700
Balance at Jun. 30, 2024	$ 4,179	112,964,554	(115,277,959)	(2,309,226)
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
Issuance of common stock upon warrant exercise (in shares)	1,650,391
Issuance of common stock upon warrant exercise	$ 1,651	1,387,712	0	1,389,363
Stock option expense	0	101,640	0	101,640
Net loss	$ 0	0	(5,064,042)	(5,064,042)
Sale of common stock and warrants for cash (in shares)	220,000
Sale of common stock and warrants for cash	$ 220	1,209,318	0	1,209,538
Balance (in shares) at Jun. 30, 2024	4,178,700
Balance at Jun. 30, 2024	$ 4,179	$ 112,964,554	$ (115,277,959)	$ (2,309,226)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (10,914,174)	$ (9,965,536)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	43,319	34,637
Stock-based compensation expense	259,376	515,552
Changes in assets and liabilities:
Accounts receivable	(300,677)	0
Prepaid expenses and other current assets	564,648	698,785
Other assets	(1,106,778)	(976,498)
Accounts payable and accrued expenses	2,745,248	(662,382)
Total adjustments	3,289,396	165,520
Net cash used in operating activities	(7,624,778)	(9,800,016)
Cash flows from investing activities:
Purchase of equipment	0	(23,805)
Net cash used in investing activities	0	(23,805)
Cash flows from financing activities:
Net proceeds from issuance of notes payable – related parties	135,000	0
Net proceeds from sale of common stock and warrants	1,209,538	0
Net proceeds from warrant exercise	1,389,363	0
Net cash provided by financing activities	2,733,901	0
Net decrease in cash and cash equivalents	(4,890,877)	(9,823,821)
Cash and cash equivalents at beginning of period	6,452,589	27,612,732
Cash and cash equivalents at end of period	$ 1,561,712	$ 17,788,911

Note 1 - Nature of Business

Note 1 - Nature of Business	6 Months Ended
	Jun. 30, 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 human vaccines for many of the world’s most threatening infectious diseases and therapies for solid tumor cancers using novel proprietary platforms. GeoVax’s lead clinical program is GEO-CM04S1, a next-generation COVID-19 vaccine for which it was recently awarded a BARDA-funded contract to sponsor a 10,000-participant Phase 2b clinical trial to evaluate the efficacy of GEO-CM04S1 versus an approved COVID-19 vaccine. In addition, GEO-CM04S1 is currently in three Phase 2 clinical trials, being evaluated as (1) a primary vaccine for immunocompromised patients such as those suffering from hematologic cancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, (2) a booster vaccine in patients with chronic lymphocytic leukemia (CLL) and (3) a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. In addition, the lead oncological clinical program is Gedeptin®, a novel oncolytic solid tumor gene-directed therapy, which is currently in a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. Additional preclinical research and development programs include preventive vaccines against Mpox (formerly known as monkeypox), hemorrhagic fever viruses (Ebola Zaire, Ebola Sudan, and Marburg), and Zika virus, as well as immunotherapies for solid tumors.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 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 six months ended June 30, 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 third 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 6. Recent Accounting Pronouncements During the six months ended June 30, 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	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	3. Balance Sheet Components Prepaid Expenses June 30, 2024 December 31, 2023 Prepaid clinical trial costs (current portion) $ 1,921,190 $ 1,282,746 Prepaid insurance premiums 36,899 110,695 Prepaid rent 13,045 13,045 Other prepaid expenses 10,000 26,667 Total prepaid expenses $ 1,981,134 $ 1,433,153 Property and Equipment June 30, 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 (719,826 ) (680,674 ) Total property and equipment, net $ 170,537 $ 209,689 Other Assets June 30, 2024 December 31, 2023 Prepaid clinical trial costs (noncurrent portion) $ - $ 1,106,778 Prepaid technology license fees 70,000 70,000 Deposits 11,010 11,010 Total other assets $ 81,010 $ 1,187,788 Accrued Expenses June 30, 2024 December 31, 2023 Payroll-related liabilities $ 168,974 $ 114,337 Accrued clinical trial costs 351,460 490,635 Accrued contract manufacturing costs 1,687,874 - Other accrued expenses 70,000 111,959 Total accrued expenses $ 2,278,308 $ 716,931

Note 4 - Notes Payable - Relate

Note 4 - Notes Payable - Related Parties	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	4. Notes Payable Related Parties On May 10, 2024, we issued 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, in exchange for gross cash proceeds to us of $135,000. 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. We recorded a total debt discount of $15,000 upon the issuance of the Notes. Interest expense associated with the Notes was $7,292 for the three-month period ended June 30, 2024, consisting of $4,167 of debt discount amortization and $3,125 of accrued interest payable.

Note 5 -Commitments

Note 5 -Commitments	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Commitments Disclosure [Text Block]	5. Commitments Operating Lease. License Agreements. Other Commitments

Note 6 - Stockholders' Equity

Note 6 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Equity [Text Block]	6. 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 May 2024 Offering On May 21, 2024, we closed a registered direct offering of 220,000 shares of common stock and pre-funded warrants to purchase an aggregate of 582,844 shares of common stock (the “May 2024 Pre-Funded Warrants”). In a concurrent private placement, we issued common warrants to the purchaser to purchase up to 1,605,688 shares of common stock at an exercise price of $1.68 per share (the “May 2024 Common Warrants”). Net proceeds after deducting placement agent commissions and other offering expenses were approximately $1.2 million. As noted under “ Warrant Exercises Warrant Exercises During the first quarter of 2024, we issued 269,032 shares of our common stock upon the exercise of prefunded warrants issued in December 2023 (the “December 2023 Pre-Funded Warrants”). During June 2024, we issued 238,000 and 582,844 shares of our common stock upon the exercise of the December 2023 Pre-Funded Warrants and the May 2024 Pre-Funded Warrants, respectively; and 2,549 shares of our common stock upon the cashless exercise of 4,000 warrants issued in June 2020. Also during June 2024, we issued 826,998 shares of our common stock upon the exercise of common warrants issued in December 2023, with net cash proceeds to us of approximately $1.4 million. Other 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. 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 six months ended June 30, 2024, 961 stock options were cancelled and there were no new grants of stock options or other transactions related to the Plans. As of June 30, 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 7.7 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 The table below summarizes information concerning warrants outstanding as of June 30, 2024. Issue Date Number of Shares Exercise Price Expiration June 2020 4,000 $ 1.68 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 582,000 1.68 June 2029 May 2024 1,605,688 1.68 May 2029 Outstanding at June 30, 2024 2,362,937

Note 7 - Stock-Based Compensati

Note 7 - Stock-Based Compensation Expense	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	7. 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 individual to whom the award is granted. Stock-based compensation expense related to stock option grants was $101,640 and $205,209 during the three-month and six-month periods ended June 30, 2024, respectively, as compared to $226,013 and $454,052, respectively, during the same periods of 2023. As of June 30, 2024, there is $342,156 of unrecognized compensation expense that we expect to recognize over a weighted-average period of 1.1 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 and six-month periods ended June 30, 2024 we recorded stock-based compensation expense of $-0- and $54,167, respectively, associated with common stock issued for consulting services, as compared to $43,500 and $61,500, respectively, for the same periods of 2023.

Note 8 - Revenue From Governmen

Note 8 - Revenue From Government Contract	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Government Grants and Contracts [Text Block]	8. Revenue from Government Contract On June 12, 2024, GeoVax was awarded a contract (the “BARDA Contract”) through the Rapid Response Partnership Vehicle (RRPV) to advance the clinical development of GEO-CM04S1, the Company’s next-generation COVID-19 vaccine. The RRPV is a consortium funded by the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response (ASPR) in the U.S. Department of Health and Human Services (HHS). Under the BARDA Contract, GeoVax will sponsor a 10,000-participant, randomized, Phase 2b double-blinded study to assess the clinical efficacy, safety, and immunogenicity of GEO-CM04S1 compared with a U.S. Food and Drug Administration (FDA)-approved mRNA COVID-19 vaccine. The direct award to GeoVax of approximately $24.3 million, which may increase to as much as $45 million, will fund the manufacturing of clinical materials and support for the Phase 2b clinical trial, including regulatory activities. BARDA has made a separate award of approximately $343 million through its Clinical Studies Network to support execution of the study by Allucent, a global clinical research organization. GeoVax’s role in the project is being funded in whole or in part with federal funds from BARDA under Other Transaction 75A50123D00005. Allucent’s role in the project is being funded in whole or in part with federal funds from BARDA under contract 75A50120D00016/75A50123F33005. During the three-month and six-month periods ending June 30, 2024, GeoVax recognized revenue of $300,677 associated with the BARDA contract. We record revenue associated with this contract as the reimbursable costs are incurred.

Note 9 - Net Loss Per Share

Note 9 - Net Loss Per Share	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	9. 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 2,496,585 and 1,027,084 shares at June 30, 2024 and 2023, respectively.

Note 10 - Income Taxes

Note 10 - Income Taxes	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10. Income Taxes No

Note 11 - Subsequent Events

Note 11 - Subsequent Events	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	11. Subsequent Events July 2024 Offering.

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 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)	6 Months Ended
	Jun. 30, 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 third 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 6.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements During the six months ended June 30, 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)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	June 30, 2024 December 31, 2023 Prepaid clinical trial costs (current portion) $ 1,921,190 $ 1,282,746 Prepaid insurance premiums 36,899 110,695 Prepaid rent 13,045 13,045 Other prepaid expenses 10,000 26,667 Total prepaid expenses $ 1,981,134 $ 1,433,153
Property, Plant and Equipment [Table Text Block]	June 30, 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 (719,826 ) (680,674 ) Total property and equipment, net $ 170,537 $ 209,689
Schedule of Other Assets [Table Text Block]	June 30, 2024 December 31, 2023 Prepaid clinical trial costs (noncurrent portion) $ - $ 1,106,778 Prepaid technology license fees 70,000 70,000 Deposits 11,010 11,010 Total other assets $ 81,010 $ 1,187,788
Schedule of Accrued Liabilities [Table Text Block]	June 30, 2024 December 31, 2023 Payroll-related liabilities $ 168,974 $ 114,337 Accrued clinical trial costs 351,460 490,635 Accrued contract manufacturing costs 1,687,874 - Other accrued expenses 70,000 111,959 Total accrued expenses $ 2,278,308 $ 716,931

Note 6 - Stockholders' Equity (

Note 6 - Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Issue Date Number of Shares Exercise Price Expiration June 2020 4,000 $ 1.68 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 582,000 1.68 June 2029 May 2024 1,605,688 1.68 May 2029 Outstanding at June 30, 2024 2,362,937

Note 3 - Balance Sheet Compon_3

Note 3 - Balance Sheet Components - Prepaid Expenses (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Prepaid clinical trial costs (current portion)	$ 1,921,190	$ 1,282,746
Prepaid insurance premiums	36,899	110,695
Prepaid rent	13,045	13,045
Other prepaid expenses	10,000	26,667
Total prepaid expenses	$ 1,981,134	$ 1,433,153

Note 3 - Balance Sheet Compon_4

Note 3 - Balance Sheet Components - Schedule of Property and Equipment (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Total property and equipment	$ 890,363	$ 890,363
Accumulated depreciation and amortization	(719,826)	(680,674)
Total property and equipment, net	170,537	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 ($)	Jun. 30, 2024	Dec. 31, 2023
Prepaid clinical trial costs (noncurrent portion)	$ 0	$ 1,106,778
Prepaid technology license fees	70,000	70,000
Deposits	11,010	11,010
Total other assets	$ 81,010	$ 1,187,788

Note 3 - Balance Sheet Compon_6

Note 3 - Balance Sheet Components - Schedule of Accrued Expenses (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Payroll-related liabilities	$ 168,974	$ 114,337
Accrued clinical trial costs	351,460	490,635
Accrued contract manufacturing costs	1,687,874	0
Other accrued expenses	70,000	111,959
Total accrued expenses	$ 2,278,308	$ 716,931

Note 4 - Notes Payable - Rela_2

Note 4 - Notes Payable - Related Parties (Details Textual) - The Notes [Member] - USD ($)		3 Months Ended
	May 10, 2024	Jun. 30, 2024
Debt Instrument, Original Issue Discount Rate	10%
Debt Instrument, Face Amount	$ 150,000
Proceeds from Issuance of Debt	$ 135,000
Debt Instrument, Interest Rate, Stated Percentage	15%
Debt Instrument, Maturity Requirement, Minimum Gross Proceeds From Common Stock Issuance	$ 5,000,000
Debt Instrument, Unamortized Discount	$ 15,000
Interest Expense, Debt		$ 7,292
Amortization of Debt Discount (Premium)		4,167
Interest Payable		$ 3,125

Note 5 -Commitments (Details Te

Note 5 -Commitments (Details Textual) - Office and Laboratory Lease Agreement [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) ft²	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) ft²	Jun. 30, 2023 USD ($)
Area of Real Estate Property | ft²	8,400		8,400
Operating Lease, Expense	$ 46,764	$ 45,414	$ 93,528	$ 90,828
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year	93,528		93,528
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 192,708		$ 192,708

Note 6 - Stockholders' Equity_2

Note 6 - Stockholders' Equity (Details Textual)			1 Months Ended		3 Months Ended	6 Months Ended
	May 21, 2024 USD ($) $ / shares shares	Jan. 16, 2024 shares	Jun. 30, 2024 USD ($) $ / shares shares	Jan. 31, 2024 shares	Mar. 31, 2024 shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 shares
Common Stock, Shares Authorized (in shares)		150,000,000	150,000,000			150,000,000		600,000,000
Proceeds from Warrant Exercises | $						$ 1,389,363	$ 0
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 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 | $ / shares			$ 28.39			$ 28.39
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term						7 years 8 months 12 days
Common Stock, Capital Shares Reserved for Future Issuance			333,648			333,648
May 2024 Pre-funded Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	582,844
Stock Issued During Period, Shares, Warrant Exercise (in shares)			582,844
May 2024 Common Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares	$ 1.68
May 2024 Common Warrants [Member] | Maximum [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	1,605,688
December 2023 Pre-funded Warrants [Member]
Stock Issued During Period, Shares, Warrant Exercise (in shares)			238,000		269,032
Warrants Issued in June 2020 [Member]
Stock Issued During Period, Shares, Warrant Cashless Exercise (in shares)			2,549
Class of Warrant or Right, Warrants Exercised (in shares)			4,000
Warrants Issued in December 2023 [Member]
Stock Issued During Period, Shares, Warrant Exercise (in shares)			826,998
Proceeds from Warrant Exercises | $			$ 1,400,000
Registered Direct Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)	220,000
May 2024 Offering [Member]
Proceeds from Issuance or Sale of Equity | $	$ 1,200,000
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio		15

Note 6 - Stockholders' Equity -

Note 6 - Stockholders' Equity - Schedule of Stock Warrants (Details)	Jun. 30, 2024 $ / shares shares
Number of Shares (in shares)	2,362,937
Warrants Expiration 1[Member]
Number of Shares (in shares)	4,000
Exercise Price (in dollars per share) | $ / shares	$ 1.68
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)	582,000
Exercise Price (in dollars per share) | $ / shares	$ 1.68
Warrant Expiration 6 [Member]
Number of Shares (in shares)	1,605,688
Exercise Price (in dollars per share) | $ / shares	$ 1.68

Note 7 - Stock-Based Compensa_2

Note 7 - Stock-Based Compensation Expense (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 342,156		$ 342,156
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			1 year 1 month 6 days
Expense Related To Consulting And Investment Banking Agreements [Member]
Share-Based Payment Arrangement, Expense	0	$ 43,500	$ 54,167	$ 61,500
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense	$ 101,640	$ 226,013	$ 205,209	$ 454,052

Note 8 - Revenue From Governm_2

Note 8 - Revenue From Government Contract (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 12, 2024
Revenue from Contract with Customer, Including Assessed Tax	$ 300,677	$ 0	$ 300,677	$ 0
BARDA [Member] | Allucent [Member]
Government Assistance, Award Amount					$ 343,000,000
BARDA Contract [Member]
Government Assistance, Award Amount					24,300,000
BARDA Contract [Member] | Grant [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 300,677		$ 300,677
BARDA Contract [Member] | Maximum [Member]
Government Assistance, Award Amount					$ 45,000,000

Note 9 - Net Loss Per Share (De

Note 9 - Net Loss Per Share (Details Textual) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,496,585	1,027,084

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Tax Expense (Benefit)	$ 0	$ 0

Note 11 - Subsequent Events (De

Note 11 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Millions	Jul. 23, 2024	Jul. 12, 2024	May 21, 2024
Registered Direct Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)			220,000
Subsequent Event [Member] | July 2024 Pre-funded Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		626,368
Stock Issued During Period, Shares, Warrant Exercise (in shares)	626,368
Subsequent Event [Member] | July 2024 Common Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 2.86
Subsequent Event [Member] | July 2024 Common Warrants [Member] | Maximum [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		2,170,000
Subsequent Event [Member] | Registered Direct Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)		458,632
Subsequent Event [Member] | July 2024 Offering [Member]
Proceeds from Issuance or Sale of Equity		$ 2.8