Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 18, 2022 | Jun. 30, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001488039 | ||
Entity Registrant Name | ATOSSA THERAPEUTICS, INC. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 001-35610 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 26-4753208 | ||
Entity Address, Address Line One | 107 Spring Street | ||
Entity Address, City or Town | Seattle | ||
Entity Address, State or Province | WA | ||
Entity Address, Postal Zip Code | 98104 | ||
City Area Code | 206 | ||
Local Phone Number | 325-6068 | ||
Title of 12(b) Security | Common Stock, $0.18 par value | ||
Trading Symbol | ATOS | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 795,626,162 | ||
Entity Common Stock, Shares Outstanding | 126,624,110 | ||
Auditor Name | BDO USA, LLP | ||
Auditor Location | Seattle, Washington | ||
Auditor Firm ID | 243 | ||
ICFR Auditor Attestation Flag | true |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets | ||
Cash and cash equivalents | $ 136,377 | $ 39,554 |
Restricted cash | 110 | 110 |
Prepaid expenses | 2,488 | 1,814 |
Research and development tax rebate receivable | 1,072 | 635 |
Other current assets | 1,193 | 657 |
Total current assets | 141,240 | 42,770 |
Furniture and equipment, net | 20 | 21 |
Intangible assets, net | 0 | 13 |
Right-of-use asset | 0 | 18 |
Other assets | 2 | 17 |
Total Assets | 141,262 | 42,839 |
Current liabilities | ||
Accounts payable | 1,717 | 1,589 |
Accrued expenses | 204 | 93 |
Payroll liabilities | 1,184 | 964 |
Common stock warrant liability | 0 | 13,003 |
Lease liability | 0 | 18 |
Other current liabilities | 21 | 4 |
Total current liabilities | 3,126 | 15,671 |
Total Liabilities | 3,126 | 15,671 |
Commitments and contingencies (Note 13) | ||
Stockholders' equity | ||
Preferred stock - $0.001 par value; 10,000 shares authorized; 1 share issued and outstanding as of December 31, 2021 and December 31, 2020, respectively | 0 | 0 |
Common stock - $0.18 par value; 175,000 shares authorized; 126,624 and 47,550 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively | 22,792 | 8,559 |
Additional paid-in capital | 243,996 | 129,887 |
Accumulated deficit | (129,234) | (111,899) |
Total Stockholders' Equity | 138,136 | 27,168 |
Total Liabilities and Stockholders' Equity | 141,262 | 42,839 |
Series B Preferred Stock [Member] | ||
Stockholders' equity | ||
Additional paid-in capital - Series B convertible preferred stock | $ 582 | $ 621 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized (in shares) | 10,000 | 10,000 |
Preferred stock, issued (in shares) | 1 | 1 |
Preferred stock, outstanding (in shares) | 1 | 1 |
Common stock, par value (in dollars per share) | $ 0.18 | $ 0.18 |
Common stock, authorized (in shares) | 175,000 | 175,000 |
Common stock, issued (in shares) | 126,624 | 47,550 |
Common stock, outstanding (in shares) | 126,624 | 47,550 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Operating expenses | ||
Research and development | $ 9,210 | $ 6,608 |
General and administrative | 11,311 | 7,999 |
Total operating expenses | 20,521 | 14,607 |
Operating loss | (20,521) | (14,607) |
Change in fair value of common stock warrants | 0 | (2,333) |
Warrant financing expense | 0 | (939) |
Other (expense) income, net | (85) | 51 |
Loss before income taxes | (20,606) | (17,828) |
Income taxes | 0 | 0 |
Net loss | (20,606) | (17,828) |
Deemed dividend attributable to preferred stock | 0 | (4,503) |
Net loss applicable to common shareholders | $ (20,606) | $ (22,331) |
Loss per common share - basic and diluted (in dollars per share) | $ (0.18) | $ (1.97) |
Weighted average shares outstanding - basic and diluted (in shares) | 116,950 | 11,309 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Conversion of Series B Convertible Preferred Stock into Common Stock [Member]Preferred Stock [Member]Series C Convertible Preferred Stock [Member] | Conversion of Series B Convertible Preferred Stock into Common Stock [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Conversion of Series B Convertible Preferred Stock into Common Stock [Member]Preferred Stock Additional Paid-in Capital [Member]Series C Convertible Preferred Stock [Member] | Conversion of Series B Convertible Preferred Stock into Common Stock [Member]Preferred Stock Additional Paid-in Capital [Member]Series B Convertible Preferred Stock [Member] | Conversion of Series B Convertible Preferred Stock into Common Stock [Member]Common Stock [Member] | Conversion of Series B Convertible Preferred Stock into Common Stock [Member]Common Stock, Additional Paid-in Capital [Member] | Conversion of Series B Convertible Preferred Stock into Common Stock [Member]Retained Earnings [Member] | Conversion of Series B Convertible Preferred Stock into Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Preferred Stock [Member]Series C Convertible Preferred Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Preferred Stock Additional Paid-in Capital [Member]Series C Convertible Preferred Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Preferred Stock Additional Paid-in Capital [Member]Series B Convertible Preferred Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Common Stock, Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Preferred Stock [Member]Series C Convertible Preferred Stock [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Preferred Stock Additional Paid-in Capital [Member]Series C Convertible Preferred Stock [Member] | Preferred Stock Additional Paid-in Capital [Member]Series B Convertible Preferred Stock [Member] | Common Stock [Member] | Common Stock, Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 0 | 1,000 | 9,131,000 | |||||||||||||||||||||
Balance at Dec. 31, 2019 | $ 0 | $ 0 | $ 0 | $ 671 | $ 1,644 | $ 104,912 | $ (94,071) | $ 13,156 | ||||||||||||||||
Issuance of common stock, shares (in shares) | 0 | 0 | 1,328,000 | |||||||||||||||||||||
Issuance of common stock | $ 0 | $ 0 | 0 | 0 | $ 239 | 4,426 | 0 | 4,665 | ||||||||||||||||
Issuance of common stock and warrants, shares (in shares) | 0 | 0 | 31,575,000 | |||||||||||||||||||||
Issuance of common stock and warrants | $ 0 | $ 0 | 0 | 0 | $ 5,684 | 23,991 | 0 | 29,675 | ||||||||||||||||
Allocation of common stock proceeds to warrant liability | $ 0 | $ 0 | 0 | 0 | $ 0 | (8,196) | 0 | (8,196) | ||||||||||||||||
Issuance of Series C convertible preferred stock and warrants (in shares) | 5,000 | 0 | 0 | |||||||||||||||||||||
Issuance of Series C convertible preferred stock and warrants, net of issuance costs of $260 | $ 0 | $ 0 | 5,165 | 0 | $ 0 | 0 | 0 | 5,165 | ||||||||||||||||
Allocation of Series C convertible preferred stock to beneficial conversion feature and warrant liability | 0 | 0 | (4,243) | 0 | 0 | 1,769 | 0 | (2,474) | ||||||||||||||||
Deemed dividend on Series C convertible preferred stock | 0 | 0 | 4,503 | 0 | 0 | (4,503) | 0 | 0 | ||||||||||||||||
Conversion of Series B convertible preferred stock to common stock | $ 0 | $ 0 | $ 0 | $ (50) | $ 2 | $ 48 | $ 0 | $ 0 | $ 0 | $ 0 | (5,425) | 0 | $ 976 | 4,449 | 0 | 0 | ||||||||
Conversion of Series B convertible preferred stock to common stock (in shares) | 0 | 15,000 | 50 | (5,000) | 0 | 5,425,000 | ||||||||||||||||||
Common stock issued for option exercises (in shares) | 0 | 0 | 225,000 | |||||||||||||||||||||
Common stock issued for option exercises | $ 0 | $ 0 | 0 | 0 | $ 41 | 501 | 0 | 542 | ||||||||||||||||
Shares withheld related to cashless exercise of options and taxes (in shares) | 0 | 0 | (149,000) | |||||||||||||||||||||
Shares withheld related to cashless exercise of options and taxes | $ 0 | $ 0 | 0 | 0 | $ (27) | (529) | 0 | (556) | ||||||||||||||||
Compensation cost for stock options granted | 0 | 0 | 3,019 | 0 | 3,019 | |||||||||||||||||||
Net loss | $ 0 | $ 0 | 0 | 0 | $ 0 | 0 | (17,828) | (17,828) | ||||||||||||||||
Balance (in shares) at Dec. 31, 2020 | 0 | 1,000 | 47,550,000 | |||||||||||||||||||||
Balance at Dec. 31, 2020 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 9,732 | $ 3,271 | $ 13,003 | $ 0 | $ 0 | 0 | 621 | $ 8,559 | 129,887 | (111,899) | 27,168 | ||||||||
Issuance of common stock and warrants, shares (in shares) | 0 | 0 | 41,211,000 | |||||||||||||||||||||
Issuance of common stock and warrants | $ 0 | $ 0 | 0 | 0 | $ 7,418 | 62,250 | 0 | $ 69,668 | ||||||||||||||||
Conversion of Series B convertible preferred stock to common stock | $ 0 | $ 0 | $ 0 | $ (39) | $ 2 | $ 37 | $ 0 | $ 0 | ||||||||||||||||
Conversion of Series B convertible preferred stock to common stock (in shares) | 0 | 0 | 11,000 | 39 | ||||||||||||||||||||
Common stock issued for option exercises (in shares) | 0 | 0 | 699,000 | 699,000 | ||||||||||||||||||||
Common stock issued for option exercises | $ 0 | $ 0 | 0 | 0 | $ 126 | 1,598 | 0 | $ 1,724 | ||||||||||||||||
Shares withheld related to cashless exercise of options and taxes (in shares) | 0 | 0 | (298,000) | |||||||||||||||||||||
Shares withheld related to cashless exercise of options and taxes | $ 0 | $ 0 | 0 | 0 | $ (54) | (1,852) | 0 | (1,906) | ||||||||||||||||
Compensation cost for stock options granted | 0 | 0 | 0 | 0 | 0 | 5,267 | 0 | 5,267 | ||||||||||||||||
Net loss | $ 0 | $ 0 | 0 | 0 | $ 0 | 0 | (20,606) | $ (20,606) | ||||||||||||||||
Issuance of common stock upon warrant exercise (in shares) | 0 | 0 | 37,451,000 | 37,451,000 | ||||||||||||||||||||
Issuance of common stock upon warrant exercise | $ 0 | $ 0 | 0 | 0 | $ 6,741 | 37,077 | 0 | $ 43,818 | ||||||||||||||||
Balance (in shares) at Dec. 31, 2021 | 0 | 1,000 | 126,624,000 | |||||||||||||||||||||
Balance at Dec. 31, 2021 | $ 0 | $ 0 | $ 0 | $ 582 | $ 22,792 | $ 243,996 | $ (129,234) | $ 138,136 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Issuance costs | $ 475 |
Issuance of common stock and warrants, issuance costs | 1,890 |
Issuance of preferred stock and warrants, issuance costs | $ 260 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (20,606) | $ (17,828) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Compensation cost for stock options granted | 5,267 | 3,019 |
Disposal of assets | 0 | 32 |
Depreciation and amortization | 23 | 47 |
Change in fair value of common stock warrant liability | 0 | 2,333 |
Warrant financing expense | 0 | 939 |
Changes in operating assets and liabilities: | ||
Prepaid expenses | (674) | (952) |
Research and development tax rebate receivable | (437) | 105 |
Other assets | (521) | (631) |
Accounts payable | 128 | 1,295 |
Accrued expenses | 111 | 15 |
Payroll liabilities | 220 | 64 |
Other current liabilities | 17 | (8) |
Net cash used in operating activities | (16,472) | (11,570) |
CASH FLOWS FROM INVESTING ACTIVITY | ||
Purchase of furniture and equipment | (9) | (9) |
Net cash used in investing activities | (9) | (9) |
CASH FLOWS FROM FINANCING ACTIVITY | ||
Proceeds from issuance of common stock, net of issuance costs | 0 | 4,665 |
Proceeds from issuance of common stock and warrants, net of issuance costs | 69,668 | 28,954 |
Proceeds from issuance of Series C convertible preferred stock and warrants, net of issuance costs | 0 | 4,947 |
Proceeds from exercise of employee stock options | 391 | 0 |
Payment of taxes related to net-exercise of employee stock options | (573) | (14) |
Proceeds from exercise of warrants | 43,818 | 0 |
Net cash provided by financing activities | 113,304 | 38,552 |
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 96,823 | 26,973 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE | 39,664 | 12,691 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE | 136,487 | 39,664 |
SUPPLEMENTAL DISCLOSURES | ||
Cash and cash equivalents | 136,377 | 39,554 |
Restricted cash | 110 | 110 |
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | 136,487 | 39,664 |
NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
Reclassification of warrant liability to equity upon adoption of accounting standard | 13,003 | 0 |
Common stock issued upon cashless exercise of stock options | 1,333 | 541 |
Deemed dividend attributable to preferred stock | 0 | 4,503 |
Conversion of Series B Convertible Preferred Stock into Common Stock [Member] | ||
NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
Conversion of Series B convertible preferred stock to common stock | 39 | 50 |
Conversion of Series C convertible preferred stock to common stock | 39 | 50 |
Conversion of Series C Convertible Preferred Stock to Common Stock [Member] | ||
NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
Conversion of Series B convertible preferred stock to common stock | 0 | 5,425 |
Conversion of Series C convertible preferred stock to common stock | $ 0 | $ 5,425 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1: On January 6, 2020, April 30, 2009, 19 December 31. Impact of the Novel Coronavirus The continued spread of the COVID- 19 may third H201, 301 19 may 19 19 may 19 not not 301 H201. 19 may 19 |
Note 2 - Liquidity and Capital
Note 2 - Liquidity and Capital Resources | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Liquidity and Capital Resources [Text Block] | NOTE 2: LIQUIDITY AND CAPITAL RESOURCES The Company has incurred net losses and negative operating cash flows since inception. For the year ended December 31, 2021, December 31, 2021, not 2021, one no may |
Note 3 - Summary of Accounting
Note 3 - Summary of Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 3: Basis of Presentation: The accompanying consolidated financial statements have been prepared pursuant to the rules of the Securities and Exchange Commission (SEC) and in accordance with accounting principles generally accepted in the United States of America (GAAP). The accompanying consolidated financial statements include the financial statements of Atossa Therapeutics, Inc. and its wholly-owned subsidiaries. All significant intercompany account balances and transactions have been eliminated in consolidation. All amounts have been presented in thousands, except for par value and per share data. Use of Estimates: The preparation of financial statements in conformity with GAAP requires management 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 expenses during the reporting period. Actual results could differ from those estimates. Recently Issued Accounting Pronouncements: In November 2021, 2021 10, Government Assistance (Topic 832 Disclosures by Business Entities about Government Assistance 20 not 958 605 December 15, 2021. On May 3, 2021, No. 2021 04, Issuer s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options December 15, 2021, Recently Adopted Accounting Pronouncements: On January 1, 2021, No. 2020 06, Debt Debt with Conversion and Other Options (Topic 470 (Topic 815 December 15, 2023, not December 15, 2020. No. 2020 06 The guidance removes the liability and equity separation models for convertible instruments with a cash conversion feature or beneficial conversion feature. As a result, companies will more likely account for convertible debt instruments wholly as debt, and for convertible preferred stock wholly as preferred stock (i.e. as a single unit of account). In addition, the guidance simplifies the settlement assessment that issuers perform to determine whether a contract in their own equity qualifies for equity classification. Finally, the guidance requires entities to use the if-converted method to calculate earnings per share for all convertible instruments. The cumulative effect of initially applying the new standard was recognized as an adjustment to accumulated deficit. Upon the adoption of the new standard, the Company recognized the following adjustments: Ending Balance as of December 31, 2020 ASU 2020-06 Adjustments Beginning Balance as of January 1, 2021 Warrant liability $ 13,003 $ (13,003 ) $ - Additional paid-in capital 129,887 9,732 139,619 Accumulated deficit (111,899 ) 3,271 (108,628 ) The $3,271 adjustment to accumulated deficit includes warrant financing expenses of $939 and the change in fair value of common stock warrants of $2,333 subsequent to initial recognition. On January 1, 2021, 2019 12, Income Taxes, (Topic 740 not Research and Development Research and development (R&D) costs are generally expensed as incurred. R&D expenses include, for example, manufacturing expense for the Company's drugs under development, expenses associated with clinical trials and associated salaries and benefits. The Company has entered into various research and development contracts with research institutions, clinical research organizations, clinical manufacturing organizations and other companies. Payments for these activities are based on the terms of the individual agreements, which may may R&D expenses also include an allocation of the CEO's salary and related benefits including bonus and non-cash stock-based compensation expense based on an estimate of total hours expended on research and development activities. The Company's CEO is involved in the development of the Company's drug candidates and oversight of the related clinical trial activity. Income Taxes The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences are expected to be recovered or settled. Realization of deferred tax assets is dependent upon future taxable income. A valuation allowance is recognized if it is more likely than not not not first not Cash and Cash Equivalents Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three Furniture and Equipment Furniture and equipment are stated at cost less accumulated depreciation. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and betterments are capitalized. When furniture and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation is computed using the straight-line method over the estimated useful lives ranging from three five Furniture and equipment amounted to $36 and $186 at December 31, 2021 2020, December 31, 2021, 2020, December 31, 2021 2020, The Company periodically evaluates the carrying value of long-lived assets to be held and used and, if necessary, records impairment losses when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amounts. In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the long-loved assets. Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair market values are reduced for the cost of disposal. For the years ended December 31, 2021 2020, Fair Value Measurements The Company records financial assets and liabilities measured on a recurring and non-recurring basis as well as all non-financial assets and liabilities subject to fair value measurement at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. These fair value principles prioritize valuation inputs across three 1 2 3 8. Intangible Assets Intangible assets consist of intellectual property and software acquired. Intangibles are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets might not not No impairment charges were recorded during the years ended December 31, 2021, December 31, 2020. Amortization of intangible assets is computed using the straight-line method over the estimated useful lives ranging from three ten Intangible assets were fully amortized as of December 31, 2021. December 31, 2020, December 31, 2020. December 31, 2021 2020, Leases The Company evaluates all contractual agreements at inception to determine if they contain a lease. Lease liabilities are measured at present value of lease payments not not 12 December 31, 2021. Stock-based Payments The Company measures and recognizes compensation expense for all stock-based payment awards made to employees, non-employee directors, and consultants, including employee stock options. Stock compensation expense is based on the estimated grant date fair value and is recognized as an expense over the requisite service period. The Company has made a policy election to recognize forfeitures when they occur. The fair value of each option grant is estimated using the Black-Scholes option-pricing model, which requires assumptions regarding the expected volatility of the stock options, the expected life of the options, an expectation regarding future dividends on the Company’s common stock, and estimation of an appropriate risk-free interest rate. The Company’s expected common stock price volatility assumption is based upon the historical volatility of our stock price. The Company has elected the simplified method for the expected life assumption for stock option grants, which averages the contractual term of the options of ten one four not no |
Note 4 - Restricted Cash
Note 4 - Restricted Cash | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Restricted Assets Disclosure [Text Block] | NOTE 4: The Company's restricted cash balance of $110 as of December 31, 2021 2020, |
Note 5 - Prepaid Expenses
Note 5 - Prepaid Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Prepaid Expenses [Text Block] | NOTE 5: Prepaid expenses consisted of the following: December 31, December 31, 2021 2020 Prepaid research and development $ 1,853 $ 1,216 Prepaid insurance 461 418 Professional services 124 128 Retainer and security deposits 14 14 Prepaid rent 5 5 Other 31 33 Total prepaid expenses $ 2,488 $ 1,814 |
Note 6 - Research and Developme
Note 6 - Research and Development Tax Rebate Receivable | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Research and Development Tax Rebate Receivable [Text Block] | NOTE 6: On May 23, 2017, 1 2 19 $0.435 December 31, 2021 December 31, 2020, December 31, 2021 December 31, 2020, December 31, 2021 2020, The Company had realized (losses) and gains on foreign currency exchange during the years ended December 31, 2021 December 31, 2020, |
Note 7 - Payroll Liabilities
Note 7 - Payroll Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | NOTE 7: Payroll liabilities consisted of the following: December 31, December 31, 2021 2020 Accrued bonuses $ 894 $ 690 Accrued vacation 183 171 Accrued payroll 107 103 Total payroll liabilities $ 1,184 $ 964 |
Note 8 - Fair Value of Financia
Note 8 - Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 8: Pursuant to the accounting guidance for fair value measurement and its subsequent updates, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. The accounting guidance establishes a hierarchy for inputs used in measuring fair value that minimizes the use of unobservable inputs by requiring the use of observable market data when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on active market data. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. The fair value hierarchy is broken down into the three ● Level 1 1 ● Level 2 2 ● Level 3 no Warrants issued in the December 11, 2020 December 28, 2020 9, may not not 3 The following tables present the Company’s fair value hierarchy for all its financial assets and liabilities, by major security type, measured at fair value on a recurring basis: December 31, 2021 Estimated Fair Value Level 1 Level 2 Level 3 Assets: Money market account $ 51,796 $ 51,796 $ - $ - December 31, 2020 Estimated Fair Value Level 1 Level 2 Level 3 Assets: Money market account $ 1,789 $ 1,789 $ - $ - Liabilities: Common stock warrant liability $ 13,003 $ - $ - $ 13,003 The following table summarizes the changes in the Company’s Level 3 December 31, 2021: Warrant Liability Beginning balance $ 13,003 Reclassification of equity upon adoption of accounting standard (13,003 ) Issuance of warrants - Change in fair value - Ending balance $ - |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 9: The Company is authorized to issue a total of 185,000 shares of stock consisting of 175,000 shares of common stock, par value $0.18 per share, and 10,000 shares of preferred stock, par value $0.001 per share. The Company has designated 750 shares of Series A junior participating preferred stock, par value $0.001 per share, 4 shares of Series A convertible preferred stock, par value $0.001 per share, 25 shares of Series B convertible preferred stock, par value $0.001 and 20 shares of Series C convertible preferred stock, par value $0.001 per share, through the filings of certificates of designation with the Delaware Secretary of State. No shares of Series A junior participating preferred stock, no shares of Series A convertible preferred stock and no shares of Series C convertible preferred stock are outstanding as of December 31, 2021 December 31, 2020. On May 19, 2014, May 26, 2014, one 1 15% 2 2021 On January 6, 2021, one 1933, January 8, 2021 On March 22, 2021, one 0.75 3 No. 333 255411 April 29, 2021. 2021 Warrants The terms and conditions of the warrants included in the 2021 Exercisability 4.5 The number of shares of common stock issuable upon exercise of the warrants is subject to adjustment in certain circumstances, including a stock split of, stock dividend on, or a subdivision, combination or recapitalization of the common stock. Upon the merger, consolidation, sale of substantially all of our assets, or other similar transaction, the holders of warrants shall, at the option of the Company, be required to exercise the warrants immediately prior to the closing of the transaction, or such warrants shall automatically expire. Upon such exercise, the holders of warrants shall participate on the same basis as the holders of common stock in connection with the transaction. Cashless Exercise no not may Exercise Price $1.055 January 2021 $2.88 March 2021 not may no Transferability may may Exchange Listing not Rights as Stockholder not 2020 On February 7, 2020, no December 31, 2020, December 31, 2020, On September 25, 2020, no may October. December 31, 2020, December 31, 2020, March 21, 2021, no 2020 Consisting of Common Stock, Series C Convertible Preferred Stock and Warrants On December 8, 2020, four December 28, 2020, 2020. Accounting Treatment The Company allocated the proceeds from the sale of the common stock and warrant units and preferred stock and warrant units to the separate securities issued. The Company determined that, on the date of issuance, the warrants include provisions that could require net-cash settlement and therefore, the warrants should be accounted for as liabilities. At the end of December 31, 2020, January 1, 2021, No. 2020 06. 3. December 31, 2021, The Company allocated the amount representing the fair value of the warrants at the date of issuance separately first Series C Convertible Preferred Stock The terms and provisions of our Series C convertible preferred stock are: Conversion. first not Fundamental Transactions. Dividends. Voting Rights. no Liquidation Preference . Redemption Rights. not not 2020 Liability Warrants The terms and conditions of the warrants included in the December 11, 2020 Exercisability four The number of shares of common stock issuable upon exercise of the warrants is subject to adjustment in certain circumstances, including a stock split or, stock dividend on, or a subdivision, combination or recapitalization of the common stock. Upon the merger, consolidation, sale of substantially all of our assets, or other similar transaction, the holders of warrants shall, at the option of the Company, be required to exercise the warrants immediately prior to the closing of the transaction, or such warrants shall automatically expire. Upon such exercise, the holders of warrants shall participate on the same basis as the holders of common stock in connection with the transaction. Cashless Exercise no not may not not Exercise Price one not may no Transferability may may Exchange Listing not Rights as Stockholder not The fair value of liability warrants issued during the year ended December 31, 2020, Initial Valuation Common stock price $ 0.87-0.89 Exercise price $ 1.00 Risk-free interest rate 0.28 % Expected term 4.0 years Dividend yield - Expected volatility 107%-124 % December 31, 2020 Valuation Common stock price $ 0.95 Exercise price $ 1.00 Risk-free interest rate 0.27 % Expected term 4.0 years Dividend yield - Expected volatility 127 % 2020 On December 17, 2020, one December 21, 2020 2020 Warrants The terms and conditions of the warrants included in the December 21, 2020, Exercisability The number of shares of common stock issuable upon exercise of the warrants is subject to adjustment in certain circumstances, including a stock split or, stock dividend on, or a subdivision, combination or recapitalization of the common stock. Upon the merger, consolidation, sale of substantially all of our assets, or other similar transaction, the holders of warrants shall, at the option of the Company, be required to exercise the warrants immediately prior to the closing of the transaction, or such warrants shall automatically expire. Upon such exercise, the holders of warrants shall participate on the same basis as the holders of common stock in connection with the transaction. Cashless Exercise no not may Exercise Price one not may no Transferability may may Exchange Listing not Rights as Stockholder not Warrants Outstanding As of December 31, 2021, Outstanding Warrants to Purchase Shares Exercise Price Expiration date May 2018 warrants 762 $ 4.05 May 30, 2022 December 2020 warrants 6,490 $ 1.00 December 11 2024-June 21, 2025 January 2021 warrants 4,500 $ 1.055 July 8, 2025 March 2021 warrants 10,525 $ 2.88 September 22, 2025 22,277 Warrant Activity During 2021, 2021 2020. Conversion of Convertible Preferred Stock During the years ended December 31, 2021 December 31, 2020, During the year ended December 31, 2020, |
Note 10 - Net Loss Per Share
Note 10 - Net Loss Per Share | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 10: The Company follows the two two two Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding. In addition, in computing the dilutive effect of convertible securities, the numerator is adjusted to add back any convertible preferred dividends. Diluted net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares that would have been outstanding during the period assuming the issuance of common shares for all potential dilutive common shares outstanding. Potential common shares consist of potential future exercises of outstanding stock options and common stock warrants. Because the inclusion of potential common shares would be anti-dilutive for all periods presented, they have been excluded from the calculation. The Company’s common stock warrants and preferred stock contractually entitles the holders of such securities to participate in dividends but do not not not December 31, 2021, 2020. The following table summarizes the Company’s calculation of net loss per common share: Year Ended December 31, 2021 2020 Numerator Net loss $ (20,606 ) $ (17,828 ) Deemed dividend attributable to preferred stock - (4,503 ) Net loss attributable to common shareholders $ (20,606 ) $ (22,331 ) Denominator Weighted average common shares outstanding used to compute net loss per share, basic and diluted 116,950 11,309 Net loss per share of common stock, basic and diluted: $ (0.18 ) $ (1.97 ) The following table sets forth the weighted average number of potential common shares excluded from the calculation of net loss per diluted share, because including them would be anti-dilutive: Year Ended December 31, 2021 2020 Options to purchase common stock 9,036 6,138 Series B convertible preferred stock 171 227 Warrants to purchase common stock 24,144 2,271 33,351 8,636 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 11: The Company accounts for income taxes using the asset and liability method, under which deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not The Company did not December 31, 2021 2020, Year Ended December 31, 2021 2020 Expected federal income tax benefit $ (4,327 ) $ (3,744 ) Stock compensation - 26 Other permanent items 81 1,082 Other deferred items (100 ) (350 ) Recognition of foreign NOLs (557 ) - Effect of change in valuation allowance 4,903 2,986 Actual federal income tax benefit $ - $ - The components of net deferred tax assets and liabilities are as follows: As of December 31, 2021 2020 Deferred tax assets Obsolete inventory $ - $ 22 Accrued vacation 38 36 Stock-based compensation 3,007 2,408 Lease obligation - 4 Intangible assets, net 382 449 Net operating loss carryforwards 11,511 7,118 Other - 1 Valuation allowance (14,937 ) (10,034 ) Deferred tax asset $ 1 $ 4 Deferred tax liabilities Fixed assets $ (1 ) $ - Right-of-use asset - (4 ) Net deferred tax asset $ - $ - Based on an assessment of all available evidence including, but not not not may may 382. 382, three 50 may 382 The Company has incurred net operating losses from inception. At December 31, 2021, 2021 382. December 31, 2021, December 31, 2017 2038, 2018 not not December 31, 2021, 2020, 2020 2021 2019 2020. The Company files income tax returns in the U.S. The Company is subject to tax examinations for the 2015 not 12 not |
Note 12 - Concentration of Cred
Note 12 - Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 12: Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250. December 31, 2021 December 31, 2020, |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 13: Lease Commitments The Company evaluates all contractual agreements at inception to determine if they contain a lease. Lease liabilities are measured at present value of lease payments not 12 no The Company's operating lease assets consist of an office lease and a copier system lease. Our office lease expired February 28, 2021. March 2021, 12 October 2021 not None December 31, 2021, $0 In May 2020, August 31, 2020, February 28, 2021. $20 December 31, 2021 2020, As of December 31, 2021 2022. December 31, 2020 December 31, 2021 2020, The Company had lease expense under short term leases of $26 and $18 during the year ended December 31, 2021, 2020, Litigation and Contingencies We are subject to legal proceedings and claims that arise in the normal course of business. We believe these matters are either without merit or of a kind that should not |
Note 14 - Stock Based Compensat
Note 14 - Stock Based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 14: Stock Option and Incentive Plan On March 24, 2020, 2020 2020 No may 2020 10 2020 May 14, 2021, 2020 2020 December 31, 2021. On September 28, 2010, 2010 2010 2010 September 2020. No may 2010 2016 2019 2010 may no 2010 The Company granted options to purchase 3,819 and 3,140 shares of common stock to employees and directors during the years ended December 31, 2021 December 31, 2020, 2021 2020 December 31, 2021, December 31, 2020, Included in the 2020 “2020 2010 2020 2010 2020 The 2020 2020 two 2020 2020 The fair value of stock options granted for the years ended December 31, 2021 2020, Year Ended December 31, 2021 2020 Risk-free interest rate 0.89% 1.08% 0.28% Expected term (in years) 5.31 - 6.17 4.50-6.18 Dividend yield - - Expected volatility 122% 130% 103% 129% Compensation costs associated with the Company’s stock options are recognized, based on the grant-date fair values of these options, over the requisite service period, or vesting period. Accordingly, the Company recognized stock-based compensation expense of $5,267 and $3,019 for the years ended December 31, 2021 2020, Year Ended December 31, 2021 2020 General and administrative $ 3,676 $ 2,121 Research and development 1,591 898 Total stock compensation expense $ 5,267 $ 3,019 Options issued and outstanding as of December 31, 2021, Number of Weighted- Weighted- Aggregate Outstanding as of January 1, 2021 7,067 $ 2.74 $ - Granted 3,819 2.98 100 Exercised (699) 2.46 2,754 Forfeited (160) 4.56 - Expired - - - Outstanding as of December 31, 2021 10,027 2.82 8.27 $ 1,006 Exercisable as of December 31, 2021 6,472 $2.87 7.78 $ 938 Vested and expected to vest 10,027 $2.82 8.27 $ 1,006 At December 31, 2021, |
Note 15 - Subsequent Events
Note 15 - Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 15: The Company paid a fee of $1,000 in June 2021 six two December 3, 2021, April 18, 2022. February 2022 not On February 24, 2022, 2020 two |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation: The accompanying consolidated financial statements have been prepared pursuant to the rules of the Securities and Exchange Commission (SEC) and in accordance with accounting principles generally accepted in the United States of America (GAAP). The accompanying consolidated financial statements include the financial statements of Atossa Therapeutics, Inc. and its wholly-owned subsidiaries. All significant intercompany account balances and transactions have been eliminated in consolidation. All amounts have been presented in thousands, except for par value and per share data. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates: The preparation of financial statements in conformity with GAAP requires management 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 expenses during the reporting period. Actual results could differ from those estimates. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements: In November 2021, 2021 10, Government Assistance (Topic 832 Disclosures by Business Entities about Government Assistance 20 not 958 605 December 15, 2021. On May 3, 2021, No. 2021 04, Issuer s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options December 15, 2021, Recently Adopted Accounting Pronouncements: On January 1, 2021, No. 2020 06, Debt Debt with Conversion and Other Options (Topic 470 (Topic 815 December 15, 2023, not December 15, 2020. No. 2020 06 The guidance removes the liability and equity separation models for convertible instruments with a cash conversion feature or beneficial conversion feature. As a result, companies will more likely account for convertible debt instruments wholly as debt, and for convertible preferred stock wholly as preferred stock (i.e. as a single unit of account). In addition, the guidance simplifies the settlement assessment that issuers perform to determine whether a contract in their own equity qualifies for equity classification. Finally, the guidance requires entities to use the if-converted method to calculate earnings per share for all convertible instruments. The cumulative effect of initially applying the new standard was recognized as an adjustment to accumulated deficit. Upon the adoption of the new standard, the Company recognized the following adjustments: Ending Balance as of December 31, 2020 ASU 2020-06 Adjustments Beginning Balance as of January 1, 2021 Warrant liability $ 13,003 $ (13,003 ) $ - Additional paid-in capital 129,887 9,732 139,619 Accumulated deficit (111,899 ) 3,271 (108,628 ) The $3,271 adjustment to accumulated deficit includes warrant financing expenses of $939 and the change in fair value of common stock warrants of $2,333 subsequent to initial recognition. On January 1, 2021, 2019 12, Income Taxes, (Topic 740 not |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development (R&D) costs are generally expensed as incurred. R&D expenses include, for example, manufacturing expense for the Company's drugs under development, expenses associated with clinical trials and associated salaries and benefits. The Company has entered into various research and development contracts with research institutions, clinical research organizations, clinical manufacturing organizations and other companies. Payments for these activities are based on the terms of the individual agreements, which may may R&D expenses also include an allocation of the CEO's salary and related benefits including bonus and non-cash stock-based compensation expense based on an estimate of total hours expended on research and development activities. The Company's CEO is involved in the development of the Company's drug candidates and oversight of the related clinical trial activity. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences are expected to be recovered or settled. Realization of deferred tax assets is dependent upon future taxable income. A valuation allowance is recognized if it is more likely than not not not first not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three |
Property, Plant and Equipment, Policy [Policy Text Block] | Furniture and Equipment Furniture and equipment are stated at cost less accumulated depreciation. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and betterments are capitalized. When furniture and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation is computed using the straight-line method over the estimated useful lives ranging from three five Furniture and equipment amounted to $36 and $186 at December 31, 2021 2020, December 31, 2021, 2020, December 31, 2021 2020, The Company periodically evaluates the carrying value of long-lived assets to be held and used and, if necessary, records impairment losses when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amounts. In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the long-loved assets. Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair market values are reduced for the cost of disposal. For the years ended December 31, 2021 2020, |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements The Company records financial assets and liabilities measured on a recurring and non-recurring basis as well as all non-financial assets and liabilities subject to fair value measurement at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. These fair value principles prioritize valuation inputs across three 1 2 3 8. |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible Assets Intangible assets consist of intellectual property and software acquired. Intangibles are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets might not not No impairment charges were recorded during the years ended December 31, 2021, December 31, 2020. Amortization of intangible assets is computed using the straight-line method over the estimated useful lives ranging from three ten Intangible assets were fully amortized as of December 31, 2021. December 31, 2020, December 31, 2020. December 31, 2021 2020, |
Lessee, Leases [Policy Text Block] | Leases The Company evaluates all contractual agreements at inception to determine if they contain a lease. Lease liabilities are measured at present value of lease payments not not 12 December 31, 2021. |
Share-based Payment Arrangement [Policy Text Block] | Stock-based Payments The Company measures and recognizes compensation expense for all stock-based payment awards made to employees, non-employee directors, and consultants, including employee stock options. Stock compensation expense is based on the estimated grant date fair value and is recognized as an expense over the requisite service period. The Company has made a policy election to recognize forfeitures when they occur. The fair value of each option grant is estimated using the Black-Scholes option-pricing model, which requires assumptions regarding the expected volatility of the stock options, the expected life of the options, an expectation regarding future dividends on the Company’s common stock, and estimation of an appropriate risk-free interest rate. The Company’s expected common stock price volatility assumption is based upon the historical volatility of our stock price. The Company has elected the simplified method for the expected life assumption for stock option grants, which averages the contractual term of the options of ten one four not no |
Note 3 - Summary of Accountin_2
Note 3 - Summary of Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Accounting Standards Update and Change in Accounting Principle [Table Text Block] | Ending Balance as of December 31, 2020 ASU 2020-06 Adjustments Beginning Balance as of January 1, 2021 Warrant liability $ 13,003 $ (13,003 ) $ - Additional paid-in capital 129,887 9,732 139,619 Accumulated deficit (111,899 ) 3,271 (108,628 ) |
Note 5 - Prepaid Expenses (Tabl
Note 5 - Prepaid Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | December 31, December 31, 2021 2020 Prepaid research and development $ 1,853 $ 1,216 Prepaid insurance 461 418 Professional services 124 128 Retainer and security deposits 14 14 Prepaid rent 5 5 Other 31 33 Total prepaid expenses $ 2,488 $ 1,814 |
Note 7 - Payroll Liabilities (T
Note 7 - Payroll Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, December 31, 2021 2020 Accrued bonuses $ 894 $ 690 Accrued vacation 183 171 Accrued payroll 107 103 Total payroll liabilities $ 1,184 $ 964 |
Note 8 - Fair Value of Financ_2
Note 8 - Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | December 31, 2021 Estimated Fair Value Level 1 Level 2 Level 3 Assets: Money market account $ 51,796 $ 51,796 $ - $ - December 31, 2020 Estimated Fair Value Level 1 Level 2 Level 3 Assets: Money market account $ 1,789 $ 1,789 $ - $ - Liabilities: Common stock warrant liability $ 13,003 $ - $ - $ 13,003 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Warrant Liability Beginning balance $ 13,003 Reclassification of equity upon adoption of accounting standard (13,003 ) Issuance of warrants - Change in fair value - Ending balance $ - |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Outstanding Warrants to Purchase Shares Exercise Price Expiration date May 2018 warrants 762 $ 4.05 May 30, 2022 December 2020 warrants 6,490 $ 1.00 December 11 2024-June 21, 2025 January 2021 warrants 4,500 $ 1.055 July 8, 2025 March 2021 warrants 10,525 $ 2.88 September 22, 2025 22,277 |
Warrant [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Initial Valuation Common stock price $ 0.87-0.89 Exercise price $ 1.00 Risk-free interest rate 0.28 % Expected term 4.0 years Dividend yield - Expected volatility 107%-124 % December 31, 2020 Valuation Common stock price $ 0.95 Exercise price $ 1.00 Risk-free interest rate 0.27 % Expected term 4.0 years Dividend yield - Expected volatility 127 % |
Note 10 - Net Loss Per Share (T
Note 10 - Net Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2021 2020 Numerator Net loss $ (20,606 ) $ (17,828 ) Deemed dividend attributable to preferred stock - (4,503 ) Net loss attributable to common shareholders $ (20,606 ) $ (22,331 ) Denominator Weighted average common shares outstanding used to compute net loss per share, basic and diluted 116,950 11,309 Net loss per share of common stock, basic and diluted: $ (0.18 ) $ (1.97 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Year Ended December 31, 2021 2020 Options to purchase common stock 9,036 6,138 Series B convertible preferred stock 171 227 Warrants to purchase common stock 24,144 2,271 33,351 8,636 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2021 2020 Expected federal income tax benefit $ (4,327 ) $ (3,744 ) Stock compensation - 26 Other permanent items 81 1,082 Other deferred items (100 ) (350 ) Recognition of foreign NOLs (557 ) - Effect of change in valuation allowance 4,903 2,986 Actual federal income tax benefit $ - $ - |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As of December 31, 2021 2020 Deferred tax assets Obsolete inventory $ - $ 22 Accrued vacation 38 36 Stock-based compensation 3,007 2,408 Lease obligation - 4 Intangible assets, net 382 449 Net operating loss carryforwards 11,511 7,118 Other - 1 Valuation allowance (14,937 ) (10,034 ) Deferred tax asset $ 1 $ 4 Deferred tax liabilities Fixed assets $ (1 ) $ - Right-of-use asset - (4 ) Net deferred tax asset $ - $ - |
Note 14 - Stock Based Compens_2
Note 14 - Stock Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2021 2020 Risk-free interest rate 0.89% 1.08% 0.28% Expected term (in years) 5.31 - 6.17 4.50-6.18 Dividend yield - - Expected volatility 122% 130% 103% 129% |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Weighted- Weighted- Aggregate Outstanding as of January 1, 2021 7,067 $ 2.74 $ - Granted 3,819 2.98 100 Exercised (699) 2.46 2,754 Forfeited (160) 4.56 - Expired - - - Outstanding as of December 31, 2021 10,027 2.82 8.27 $ 1,006 Exercisable as of December 31, 2021 6,472 $2.87 7.78 $ 938 Vested and expected to vest 10,027 $2.82 8.27 $ 1,006 |
Share-based Payment Arrangement, Option [Member] | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year Ended December 31, 2021 2020 General and administrative $ 3,676 $ 2,121 Research and development 1,591 898 Total stock compensation expense $ 5,267 $ 3,019 |
Note 2 - Liquidity and Capita_2
Note 2 - Liquidity and Capital Resources (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Net Income (Loss) Attributable to Parent, Total | $ (20,606) | $ (17,828) |
Net Cash Provided by (Used in) Operating Activities, Total | (16,472) | (11,570) |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 136,377 | $ 39,554 |
Working Capital (Deficit) | 138,114 | |
Proceeds from Issuance or Sale of Equity, Total | $ 113,486 |
Note 3 - Summary of Accountin_3
Note 3 - Summary of Accounting Policies (Details Textual) - USD ($) $ in Thousands | Jan. 01, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Stockholders' Equity Attributable to Parent, Ending Balance | $ 138,136 | $ 27,168 | $ 13,156 | |
Fair Value Adjustment of Warrants | 0 | 2,333 | ||
Property, Plant and Equipment, Gross, Ending Balance | 36 | 186 | ||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Ending Balance | 16 | 165 | ||
Depreciation, Total | 10 | 19 | ||
Impairment, Long-Lived Asset, Held-for-Use, Total | 0 | 0 | ||
Impairment of Intangible Assets, Finite-lived | 0 | 0 | ||
Intangible Assets, Net (Excluding Goodwill), Total | 54 | 41 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 13 | 28 | ||
Operating Lease, Right-of-Use Asset | 0 | $ 18 | ||
Operating Lease, Liability, Total | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||
Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | ||
Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Vesting Term (Year) | 1 year | |||
Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Vesting Term (Year) | 4 years | |||
Retained Earnings [Member] | ||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ (129,234) | $ (111,899) | $ (94,071) | |
Accounting Standards Update 2020-06 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ 13,003 | |||
Reclassification of Warrant Financing Expenses | 939 | |||
Fair Value Adjustment of Warrants | 2,333 | |||
Accounting Standards Update 2020-06 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | ||||
Stockholders' Equity Attributable to Parent, Ending Balance | $ 3,271 |
Note 3 - Summary of Accountin_4
Note 3 - Summary of Accounting Policies - New Accounting Standards Adoption (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Jan. 01, 2021 | Dec. 31, 2020 |
Warrant liability | $ 0 | $ 13,003 | |
Additional paid-in capital | 139,619 | 129,887 | |
Accumulated deficit | $ (129,234) | (108,628) | $ (111,899) |
Accounting Standards Update 2020-06 [Member] | |||
Warrant liability | (13,003) | ||
Additional paid-in capital | 9,732 | ||
Accumulated deficit | $ 3,271 |
Note 4 - Restricted Cash (Detai
Note 4 - Restricted Cash (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Restricted Cash and Cash Equivalents, Total | $ 110 | $ 110 |
Note 5 - Prepaid Expenses - Sch
Note 5 - Prepaid Expenses - Schedule of Prepaid Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Prepaid research and development | $ 1,853 | $ 1,216 |
Prepaid insurance | 461 | 418 |
Professional services | 124 | 128 |
Retainer and security deposits | 14 | 14 |
Prepaid rent | 5 | 5 |
Other | 31 | 33 |
Total prepaid expenses | $ 2,488 | $ 1,814 |
Note 6 - Research and Develop_2
Note 6 - Research and Development Tax Rebate Receivable (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Jan. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Research and Development Expense, Total | $ 9,210 | $ 6,608 | |
Research and Development Tax Rebate Receivable | 1,072 | 635 | |
Other Income [Member] | |||
Foreign Currency Transaction Gain (Loss), Realized | 72 | 42 | |
Atossa Genetics AUS Pty Ltd [Member] | |||
Research and Development Expense, Total | $ 1,429 | 1,251 | |
Research and Development Tax Rebate Receivable | 1,072 | 635 | |
Research and Development Cash Rebate | $ 0 | $ 850 |
Note 7 - Payroll Liabilities -
Note 7 - Payroll Liabilities - Schedule of Payroll Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accrued bonuses | $ 894 | $ 690 |
Accrued vacation | 183 | 171 |
Accrued payroll | 107 | 103 |
Total payroll liabilities | $ 1,184 | $ 964 |
Note 8 - Fair Value of Financ_3
Note 8 - Fair Value of Financial Instruments - Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Common stock warrant liability | $ 13,003 | |
Fair Value, Inputs, Level 1 [Member] | ||
Common stock warrant liability | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Common stock warrant liability | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Common stock warrant liability | 13,003 | |
Money Market Funds [Member] | ||
Money market account | $ 51,796 | 1,789 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Money market account | 51,796 | 1,789 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Money market account | 0 | 0 |
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Money market account | $ 0 | $ 0 |
Note 8 - Fair Value of Financ_4
Note 8 - Fair Value of Financial Instruments - Changes in Warrant Liability (Details) - Warrant Liability [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Beginning balance | $ 13,003 |
Reclassification of equity upon adoption of accounting standard | (13,003) |
Issuance of warrants | 0 |
Change in fair value | 0 |
Ending balance | $ 0 |
Note 9 - Stockholders' Equity_2
Note 9 - Stockholders' Equity (Details Textual) - USD ($) | Mar. 22, 2021 | Jan. 08, 2021 | Jan. 06, 2021 | Dec. 28, 2020 | Dec. 21, 2020 | Dec. 17, 2020 | Dec. 08, 2020 | Sep. 25, 2020 | Feb. 07, 2020 | Dec. 28, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | May 19, 2014 |
Number of Shares Authorized to Issue (in shares) | 185,000,000 | ||||||||||||
Common Stock, Shares Authorized (in shares) | 175,000,000 | 175,000,000 | |||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.18 | $ 0.18 | |||||||||||
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | |||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | |||||||||||
Preferred Stock, Shares Issued, Total (in shares) | 1,000 | 1,000 | |||||||||||
Stockholder Rights Agreement, Number of Preferred Stock Right Distributed for Each Share of Common Stock (in shares) | 1 | ||||||||||||
Stockholder Rights Agreement, Acquiring Person, Percentage of Ownership | 15.00% | ||||||||||||
Stockholder Rights Agreement, Acquiring Person, Additional Percentage of Ownership | 2.00% | ||||||||||||
Stockholder Rights Agreement, Initial Exercise Price of Each Right (in dollars per share) | $ 15 | ||||||||||||
Stockholder Rights Agreement, Share Price (in dollars per share) | $ 30 | ||||||||||||
Proceeds From Issuance of Common Stock and Warrants, Net of Issuance Costs | $ 69,668,000 | $ 28,954,000 | |||||||||||
Common Stock and Warrants Issued During Period, Value, New Issues | 69,668,000 | 29,675,000 | |||||||||||
Issuance of Common Stock and Warrants, Issuance Costs | 5,493,000 | 1,890,000 | |||||||||||
Adjustments to Additional Paid in Capital, Allocation of Convertible Preferred Stock to Beneficial Conversion Feature and Warrant Liability | (2,474,000) | ||||||||||||
Preferred Stock, Deemed Dividend | $ 0 | 4,503,000 | |||||||||||
Adjustments to Additional Paid in Capital, Preferred Stock, Deemed Dividend | 0 | ||||||||||||
Consummate a Business Combination, Percentage of Acquired Outstanding Shares | 50.00% | ||||||||||||
Consummate a Business Combination, Percentage of Aggregate Ordinary Voting Power | 50.00% | ||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 22,277,000 | ||||||||||||
Proceeds from Warrant Exercises | $ 43,818,000 | $ 0 | |||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 37,451,000 | 0 | |||||||||||
Stock Issued During Period, Shares, Warrant Exercised (in shares) | 37,451,000 | ||||||||||||
Conversion of Series B Convertible Preferred Stock into Common Stock [Member] | |||||||||||||
Conversion of Stock, Shares Converted (in shares) | 39 | 50 | |||||||||||
Conversion of Stock, Shares Issued (in shares) | 11,000 | 15,000 | |||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 284,000 | 284,000 | |||||||||||
Conversion of Series C Convertible Preferred Stock to Common Stock [Member] | |||||||||||||
Conversion of Stock, Shares Converted (in shares) | 5,425 | ||||||||||||
Conversion of Stock, Shares Issued (in shares) | 5,425,000 | ||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 1,000,000 | ||||||||||||
Common Stock [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,328,000 | ||||||||||||
Common Stock and Warrants Issued During Period, Value, New Issues | $ 7,418,000 | $ 5,684,000 | |||||||||||
Adjustments to Additional Paid in Capital, Allocation of Convertible Preferred Stock to Beneficial Conversion Feature and Warrant Liability | 0 | ||||||||||||
Adjustments to Additional Paid in Capital, Preferred Stock, Deemed Dividend | $ 0 | ||||||||||||
Stock Issued During Period, Shares, Warrant Exercised (in shares) | 37,451,000 | ||||||||||||
Conversion of Stock, Shares Converted (in shares) | 5,425,000 | ||||||||||||
Common Stock [Member] | Conversion of Series B Convertible Preferred Stock into Common Stock [Member] | |||||||||||||
Conversion of Stock, Shares Converted (in shares) | 11,000 | 15,000 | |||||||||||
The 2021 Financing Transaction Warrants [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 0.75 | 1 | |||||||||||
Warrants and Rights Outstanding, Term (Year) | 4 years 6 months | ||||||||||||
Shares Issuable Upon Exercise of Warrants (in shares) | 13,021,000 | ||||||||||||
Warrants Exercisable, Ownership Percentage of Company’s Shares Allowed | 4.99% | ||||||||||||
Common Stock, Convertible, Ownership Percentage of Company’s Shares Allowed | 9.99% | ||||||||||||
Over-allotment Warrants Associated with Offering of Common Stock, Series B Convertible Preferred Stock and Warrants [Member] | Maxim Group, LLC [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 15,000,000 | ||||||||||||
Warrants and Rights Outstanding, Term (Year) | 4 years | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1 | ||||||||||||
The 2020 Liability Warrants [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||||||||||
Warrants and Rights Outstanding, Term (Year) | 4 years | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1 | ||||||||||||
Warrants Exercisable, Ownership Percentage of Company’s Shares Allowed | 4.99% | ||||||||||||
Common Stock, Convertible, Ownership Percentage of Company’s Shares Allowed | 9.99% | ||||||||||||
The 2020 Offering Consisting of Common Stock and Warrants [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 10,500,000 | ||||||||||||
Warrants Associated with 2020 Offering Consisting of Common Stock and Warrants [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 0.75 | ||||||||||||
Warrants and Rights Outstanding, Term (Year) | 4 years 6 months | ||||||||||||
The 2020 Warrants [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||||||||||
Warrants and Rights Outstanding, Term (Year) | 4 years 6 months | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1 | $ 1 | |||||||||||
Warrants Exercisable, Ownership Percentage of Company’s Shares Allowed | 4.99% | ||||||||||||
Common Stock, Convertible, Ownership Percentage of Company’s Shares Allowed | 9.99% | ||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 6,490 | ||||||||||||
The 2021 Financing Transaction [Member] | |||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.18 | $ 0.18 | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 17,361,000 | 23,850,000 | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 13,021,000 | ||||||||||||
Issuance of Common Stock and Warrants, Combined Purchase Price Per Share (in dollars per share) | $ 1.055 | ||||||||||||
Stock Issuance Costs, Commission Fee Percent | 7.00% | 7.00% | |||||||||||
Maximum Stock Issuance Expenses to Reimburse Placement Agent | $ 45,000 | $ 45,000 | |||||||||||
Proceeds From Issuance of Common Stock and Warrants, Net of Issuance Costs | $ 46,400,000 | $ 23,300,000 | |||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 2.88 | ||||||||||||
The 2021 Financing Transaction [Member] | The 2021 Financing Transaction Warrants [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 17,888,000 | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 0.75 | ||||||||||||
Warrants and Rights Outstanding, Term (Year) | 4 years 6 months | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.055 | ||||||||||||
At The Market Offering [Member] | |||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.18 | ||||||||||||
Stock to be Issued, Maximum Value | $ 5,000,000 | ||||||||||||
At The Market Offering [Member] | Oppenheimer & Co. Inc. [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,244,000 | ||||||||||||
Stock Issuance Costs, Commission Fee Percent | 3.00% | ||||||||||||
Proceeds from Issuance of Common Stock, Net | $ 4,686,000 | ||||||||||||
Payments of Stock Issuance Costs | $ 314,000 | ||||||||||||
At The Market Offering [Member] | Maxim Group, LLC [Member] | |||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.18 | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 84,000 | ||||||||||||
Stock Issuance Costs, Commission Fee Percent | 3.00% | ||||||||||||
Stock to be Issued, Maximum Value | $ 10,000,000 | ||||||||||||
Payments of Stock Issuance Costs | $ 161,000 | ||||||||||||
Proceeds from Issuance of Common Stock | 140,000 | ||||||||||||
Offering of Common Stock, Series C Convertible Preferred Stock and Warrants [Member] | Maxim Group, LLC [Member] | |||||||||||||
Adjustments to Additional Paid in Capital, Allocation of Convertible Preferred Stock to Beneficial Conversion Feature and Warrant Liability | $ (2,474,000) | ||||||||||||
Offering of Common Stock, Series C Convertible Preferred Stock and Warrants [Member] | Maxim Group, LLC [Member] | Common Stock [Member] | |||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 14,575,000 | ||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1 | ||||||||||||
Offering of Common Stock, Series C Convertible Preferred Stock and Warrants [Member] | Maxim Group, LLC [Member] | Series C Convertible Preferred Stock [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 5,000 | ||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1,000 | ||||||||||||
Offering of Common Stock, Series C Convertible Preferred Stock and Warrants, Over-allotment Option {member] | Maxim Group, LLC [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 3,000,000 | ||||||||||||
Payments of Stock Issuance Costs | $ 2,024,000 | ||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 2,250,000 | ||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ 20,976,000 | ||||||||||||
Common Stock and Warrants Issued During Period, Value, New Issues | 16,750,000 | ||||||||||||
Issuance of Common Stock and Warrants, Issuance Costs | 825,000 | ||||||||||||
Allocation of Proceeds from the Sale of Common Stock and Warrants to the Warrant Liability | 8,196,000 | ||||||||||||
The 2020 Offering Consisting of Common Stock and Warrants [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 14,000,000 | ||||||||||||
Securities Purchase Agreement with Certain Institutional and Accredited Investors [Member] | |||||||||||||
Issuance of Common Stock and Warrants, Combined Purchase Price Per Share (in dollars per share) | $ 1 | ||||||||||||
Proceeds From Issuance of Common Stock and Warrants, Net of Issuance Costs | $ 12,925,000 | ||||||||||||
Issuance of Common Stock and Warrants, Issuance Costs | $ 1,075,000 | ||||||||||||
Warrants Issued with Common Stock, Percentage of Shares of Common Stock | 75.00% | ||||||||||||
Series A Junior Participating Preferred Stock [Member] | |||||||||||||
Preferred Stock, Shares Authorized (in shares) | 750,000 | ||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | ||||||||||||
Preferred Stock, Shares Issued, Total (in shares) | 0 | 0 | |||||||||||
Series A Convertible Preferred Stock [Member] | |||||||||||||
Preferred Stock, Shares Authorized (in shares) | 4,000 | ||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | ||||||||||||
Preferred Stock, Shares Issued, Total (in shares) | 0 | 0 | |||||||||||
Series B Convertible Preferred Stock [Member] | |||||||||||||
Preferred Stock, Shares Authorized (in shares) | 25,000 | ||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | ||||||||||||
Series C Convertible Preferred Stock [Member] | |||||||||||||
Preferred Stock, Shares Authorized (in shares) | 20,000 | ||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | ||||||||||||
Preferred Stock, Shares Issued, Total (in shares) | 0 | 0 | |||||||||||
Preferred Stock, Convertible, Period Following Closing at which Convertibility Commences (Year) | 1 year | ||||||||||||
Stated Value per Share | $ 1,000 | ||||||||||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ 1 | ||||||||||||
Preferred Stock, Convertible, Ownership Percentage of Company’s Shares Allowed | 9.99% | ||||||||||||
Series C Convertible Preferred Stock [Member] | Offering of Common Stock, Series C Convertible Preferred Stock and Warrants [Member] | Maxim Group, LLC [Member] | |||||||||||||
Payments of Stock Issuance Costs | $ 939,000 | ||||||||||||
Allocation of Proceeds from Sale of Preferred Stock and Warrants to Common Stock Warrant Liability | $ 2,474,000 | ||||||||||||
Adjustments to Additional Paid in Capital, Allocation of Convertible Preferred Stock to Beneficial Conversion Feature and Warrant Liability | $ 1,769,000 | ||||||||||||
Preferred Stock, Deemed Dividend | 260,000 | ||||||||||||
Adjustments to Additional Paid in Capital, Preferred Stock, Deemed Dividend | $ 4,503,000 | ||||||||||||
Series C Convertible Preferred Stock [Member] | Offering of Common Stock, Series C Convertible Preferred Stock and Warrants, Over-allotment Option {member] | Maxim Group, LLC [Member] | |||||||||||||
Proceeds from Issuance or Sale of Equity, Net | 5,165,000 | ||||||||||||
Issuance of Preferred Stock, Issuance Costs | $ 260,000 |
Note 9 - Stockholders' Equity -
Note 9 - Stockholders' Equity - Fair Value of Liability Warrants (Details) - Warrant [Member] | Dec. 31, 2021$ / sharesyr |
Measurement Input, Share Price [Member] | The 2020 Warrants at End-of-year Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | 0.95 |
Measurement Input, Share Price [Member] | Minimum [Member] | The 2020 Warrants at Initial Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | 0.87 |
Measurement Input, Share Price [Member] | Maximum [Member] | The 2020 Warrants at Initial Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | 0.89 |
Measurement Input, Exercise Price [Member] | The 2020 Warrants at Initial Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | 1 |
Measurement Input, Exercise Price [Member] | The 2020 Warrants at End-of-year Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | 1 |
Measurement Input, Risk Free Interest Rate [Member] | The 2020 Warrants at Initial Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | 0.0028 |
Measurement Input, Risk Free Interest Rate [Member] | The 2020 Warrants at End-of-year Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | 0.0027 |
Measurement Input, Expected Term [Member] | The 2020 Warrants at Initial Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | yr | 4 |
Measurement Input, Expected Term [Member] | The 2020 Warrants at End-of-year Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | yr | 4 |
Measurement Input, Price Volatility [Member] | The 2020 Warrants at End-of-year Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | 1.27 |
Measurement Input, Price Volatility [Member] | Minimum [Member] | The 2020 Warrants at Initial Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | 1.07 |
Measurement Input, Price Volatility [Member] | Maximum [Member] | The 2020 Warrants at Initial Valuation [Member] | |
Liability warrants, measurement input (in dollars per share) | 1.24 |
Note 9 - Stockholders' Equity_3
Note 9 - Stockholders' Equity - Outstanding Warrants (Details) - $ / shares | Dec. 31, 2021 | Dec. 21, 2020 |
Outstanding Warrants to Purchase Shares (in shares) | 22,277,000 | |
The 2018 Warrants [Member] | ||
Outstanding Warrants to Purchase Shares (in shares) | 762 | |
Exercise Price (in dollars per share) | $ 4.05 | |
The 2020 Warrants [Member] | ||
Outstanding Warrants to Purchase Shares (in shares) | 6,490 | |
Exercise Price (in dollars per share) | $ 1 | $ 1 |
The January 2021 Warrants [Member] | ||
Outstanding Warrants to Purchase Shares (in shares) | 4,500 | |
Exercise Price (in dollars per share) | $ 1.055 | |
The March 2021 Warrants [Member] | ||
Outstanding Warrants to Purchase Shares (in shares) | 10,525 | |
Exercise Price (in dollars per share) | $ 2.88 |
Note 10 - Net Loss Per Share -
Note 10 - Net Loss Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Net loss | $ (20,606) | $ (17,828) |
Deemed dividend attributable to preferred stock | 0 | (4,503) |
Net loss attributable to common shareholders | $ (20,606) | $ (22,331) |
Weighted average common shares outstanding used to compute net loss per share, basic and diluted (in shares) | 116,950 | 11,309 |
Net loss per share of common stock, basic and diluted: (in dollars per share) | $ (0.18) | $ (1.97) |
Note 10 - Net Loss Per Share _2
Note 10 - Net Loss Per Share - Schedule of Antidilutive Securities (Details) - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Payment Arrangement, Option [Member] | ||
Number of potential common shares excluded (in shares) | 9,036 | 6,138 |
Series B Convertible Preferred Stock [Member] | ||
Number of potential common shares excluded (in shares) | 171 | 227 |
Warrant [Member] | ||
Number of potential common shares excluded (in shares) | 24,144 | 2,271 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 |
Gross Net Operating Loss Carryforwards | 52,200 | |
Deferred Tax Assets, Valuation Allowance, Total | 14,937 | 10,034 |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 4,903 | $ 2,986 |
Unrecognized Tax Benefits, Ending Balance | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | $ 94,700 | |
Domestic Tax Authority [Member] | Earliest Tax Year [Member] | ||
Operating Loss Carryforwards, Expiration Year | 2029 | |
Domestic Tax Authority [Member] | Latest Tax Year [Member] | ||
Operating Loss Carryforwards, Expiration Year | 2038 | |
Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | $ 1,857 |
Note 11 - Income Taxes - Effect
Note 11 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Expected federal income tax benefit | $ (4,327) | $ (3,744) |
Stock compensation | 0 | 26 |
Other permanent items | 81 | 1,082 |
Other deferred items | (100) | (350) |
Recognition of foreign NOLs | (557) | 0 |
Effect of change in valuation allowance | 4,903 | 2,986 |
Actual federal income tax benefit | $ 0 | $ 0 |
Note 11 - Income Taxes - Compon
Note 11 - Income Taxes - Components of Net Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Obsolete inventory | $ 0 | $ 22 |
Deferred tax assets, accrued vacation | 38 | 36 |
Stock-based compensation | 3,007 | 2,408 |
Lease obligation | 0 | 4 |
Intangible assets, net | 382 | 449 |
Net operating loss carryforwards | 11,511 | 7,118 |
Other | 0 | 1 |
Valuation allowance | (14,937) | (10,034) |
Deferred tax asset | 1 | 4 |
Fixed assets | (1) | 0 |
Right-of-use asset | 0 | (4) |
Net deferred tax asset | $ 0 | $ 0 |
Note 12 - Concentration of Cr_2
Note 12 - Concentration of Credit Risk (Details Textual) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Cash, Uninsured Amount | $ 136,185 | $ 39,345 |
Note 13 - Commitments and Con_2
Note 13 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
May 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lessee, Operating Lease, Monthly Rent Payments | $ 1 | ||
Operating Lease, Right-of-Use Asset | 0 | $ 18 | |
Increase (Decrease) in Operating Lease, Right of Use Asset | $ 20 | ||
Operating Lease, Expense | $ 17 | 57 | |
Operating Lease, Weighted Average Discount Rate, Percent | 11.30% | ||
Lessee, Operating Lease, Liability, to be Paid, Year One | $ 0 | ||
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 1 | ||
Operating Lease, Payments | 19 | 55 | |
Short-term Lease, Cost | 26 | $ 18 | |
Operating Lease, Liability, Total | $ 0 | ||
Increase (Decrease) in Operating Lease Liability | $ 20 |
Note 14 - Stock Based Compens_3
Note 14 - Stock Based Compensation (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | May 14, 2021 | Apr. 09, 2020 | Sep. 28, 2010 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2020 | Mar. 24, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 3,819 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 699 | |||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.46 | |||||||
Share-based Payment Arrangement, Expense | $ 5,267 | $ 3,019 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 3,555 | |||||||
Share-based Payment Arrangement, Option [Member] | ||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 7,187 | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 4 months 17 days | |||||||
The 2020 Performance Options Plan [Member] | Chairman of the Board, President and Chief Executive Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 1,500 | |||||||
The 2020 Performance Options Plan [Member] | Chief Financial Officer, General Counsel and Secretary [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 590 | |||||||
The 2020 Performance Options [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.48 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Unvested Percentage for Vesting to Accelerate Under Certain Approvals | 50.00% | |||||||
The 2020 Stock Incentive Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 3,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 15,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 3,819 | 3,140 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 2.56 | $ 1.56 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 699 | 225 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.46 | $ 2.40 | ||||||
Common Shares Issued Upon Net Option Exercise (in shares) | 298 | 76 | ||||||
The 2020 Stock Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 11,936 | |||||||
Share-based Payment Arrangement, Expense | $ 5,267 | $ 3,019 | ||||||
The 2020 Stock Incentive Plan [Member] | The 2020 Performance Options Plan [Member] | Chairman of the Board, President and Chief Executive Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 1,305 | |||||||
The 2020 Stock Incentive Plan [Member] | The 2020 Performance Options Plan [Member] | Chief Financial Officer, General Counsel and Secretary [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 395 | |||||||
The 2010 Stock Option and Incentive Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 4,242 | 740 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Period for Granting Shares (Year) | 10 years | |||||||
The 2010 Stock Option and Incentive Plan [Member] | The 2020 Performance Options Plan [Member] | Chairman of the Board, President and Chief Executive Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 195 | |||||||
The 2010 Stock Option and Incentive Plan [Member] | The 2020 Performance Options Plan [Member] | Chief Financial Officer, General Counsel and Secretary [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 195 |
Note 14 - Stock Based Compens_4
Note 14 - Stock Based Compensation - Valuation Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Dividend yield | 0.00% | |
Share-based Payment Arrangement, Option [Member] | ||
Dividend yield | 0.00% | 0.00% |
Share-based Payment Arrangement, Option [Member] | Minimum [Member] | ||
Risk-free interest rate | 0.89% | 0.28% |
Expected term (in years) (Year) | 5 years 3 months 21 days | 4 years 6 months |
Expected volatility | 122.00% | 103.00% |
Share-based Payment Arrangement, Option [Member] | Maximum [Member] | ||
Risk-free interest rate | 1.08% | 0.47% |
Expected term (in years) (Year) | 6 years 2 months 1 day | 6 years 2 months 4 days |
Expected volatility | 130.00% | 129.00% |
Note 14 - Stock Based Compens_5
Note 14 - Stock Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Stock compensation expense | $ 5,267 | $ 3,019 |
General and Administrative Expense [Member] | ||
Stock compensation expense | 3,676 | 2,121 |
Research and Development Expense [Member] | ||
Stock compensation expense | $ 1,591 | $ 898 |
Note 14 - Stock Based Compens_6
Note 14 - Stock Based Compensation - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($)$ / sharesshares | |
Outstanding, shares (in shares) | shares | 7,067 |
Outstanding, weighted average exercise price per share (in dollars per share) | $ / shares | $ 2.74 |
Granted (in shares) | shares | 3,819 |
Granted, weighted average exercise price per share (in dollars per share) | $ / shares | $ 2.98 |
Granted, aggregate intrinsic value | $ | $ 100 |
Exercised (in shares) | shares | (699) |
Exercised, weighted average exercise price per share (in dollars per share) | $ / shares | $ 2.46 |
Exercised, aggregate intrinsic value | $ | $ 2,754 |
Forfeited (in shares) | shares | (160) |
Forfeited, weighted average exercise price per share (in dollars per share) | $ / shares | $ 4.56 |
Expired (in shares) | shares | 0 |
Expired, weighted average exercise price per share (in dollars per share) | $ / shares | $ 0 |
Outstanding, shares (in shares) | shares | 10,027 |
Outstanding, weighted average exercise price per share (in dollars per share) | $ / shares | $ 2.82 |
Outstanding, weighted average contractual life remaining in years (Year) | 8 years 3 months 7 days |
Outstanding, aggregate intrinsic value | $ | $ 1,006 |
Exercisable, shares (in shares) | shares | 6,472 |
Exercisable, Weighted average exercise price per share (in dollars per share) | $ / shares | $ 2.87 |
Exercisable, weighted average contractual life remaining in years (Year) | 7 years 9 months 10 days |
Exercisable, aggregate intrinsic value | $ | $ 938 |
Vested and expected to vest, shares (in shares) | shares | 10,027 |
Vested and expected to vest, Weighted average exercise price per share (in dollars per share) | $ / shares | $ 2.82 |
Vested and expected to vest, weighted average contractual life remaining in years (Year) | 8 years 3 months 7 days |
Vested and expected to vest, aggregate intrinsic value | $ | $ 1,006 |
Note 15 - Subsequent Events (De
Note 15 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | Feb. 24, 2022 | Feb. 28, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 |
Payment for Negotiation Rights | $ 1 | ||||
Payment for Negotiation Rights, Negotiation Term (Month) | 6 months | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 3,819 | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 2.98 | ||||
The 2020 Stock Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 3,819 | 3,140 | |||
Subsequent Event [Member] | |||||
Proceeds Form Early Termination Fee | $ 1 | ||||
Subsequent Event [Member] | The 2020 Stock Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 1.25 | ||||
Subsequent Event [Member] | The 2020 Stock Incentive Plan [Member] | Chairman of the Board, President and Chief Executive Officer [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 1,900 | ||||
Subsequent Event [Member] | The 2020 Stock Incentive Plan [Member] | Chief Financial Officer, General Counsel and Secretary [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 747 |