Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 04, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001659617 | |
Entity Registrant Name | Moleculin Biotech, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-37758 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 47-4671997 | |
Entity Address, Address Line One | 5300 Memorial Drive | |
Entity Address, City or Town | Houston | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 77007 | |
City Area Code | 713 | |
Local Phone Number | 300-5160 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Small Business | true | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Shell Company | false | |
Title of 12(b) Security | Common Stock, par value $0.001 per share | |
Trading Symbol | MBRX | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 28,444,425 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 86,293 | $ 15,173 |
Prepaid expenses and other current assets | 1,726 | 2,025 |
Total current assets | 88,019 | 17,198 |
Furniture and equipment, net | 438 | 483 |
Intangible assets | 11,148 | 11,148 |
Operating lease right-of-use asset | 179 | 202 |
Total assets | 99,784 | 29,031 |
Current liabilities: | ||
Accounts payable | 1,928 | 1,129 |
Accrued expenses and other current liabilities | 2,650 | 1,791 |
Total current liabilities | 4,578 | 2,920 |
Operating lease liability - long-term, net of current portion | 127 | 159 |
Warrant liability - long-term | 6,563 | 8,192 |
Total liabilities | 11,268 | 11,271 |
Commitments and contingencies (Note 7) | ||
Stockholders' equity | ||
Preferred stock, $0.001 par value; 5,000,000 shares authorized, no shares issued or outstanding | 0 | 0 |
Common stock, $0.001 par value; 100,000,000 shares authorized; 28,444,425 and 11,536,720 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively | 28 | 69 |
Additional paid-in capital | 149,788 | 74,671 |
Subscription Receivable | 0 | (129) |
Accumulated other comprehensive income | 61 | 65 |
Accumulated deficit | (61,361) | (56,916) |
Total stockholders’ equity | 88,516 | 17,760 |
Total liabilities and stockholders’ equity | $ 99,784 | $ 29,031 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par or stated value per share (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 28,444,425 | 11,536,720 |
Common stock, shares outstanding (in shares) | 28,444,425 | 11,536,720 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenues | $ 0 | $ 0 |
Operating expenses: | ||
Research and development | 4,105 | 3,206 |
General and administrative | 1,939 | 1,810 |
Depreciation and amortization | 44 | 46 |
Total operating expenses | 6,088 | 5,062 |
Loss from operations | (6,088) | (5,062) |
Other income: | ||
Gain from change in fair value of warrant liability | 1,577 | 3,845 |
Other income, net | 9 | 5 |
Interest income, net | 57 | 3 |
Net loss | $ (4,445) | $ (1,209) |
Net loss per common share - basic and diluted (in dollars per share) | $ (0.20) | $ (0.15) |
Weighted average common shares outstanding, basic and diluted (in shares) | 21,808,565 | 8,321,833 |
Net loss | $ (4,445) | $ (1,209) |
Other comprehensive income (loss): | ||
Foreign currency translation | (4) | (33) |
Comprehensive loss | $ (4,449) | $ (1,242) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (4,445,000) | $ (1,209,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 44,000 | 46,000 |
Stock-based compensation | 405,000 | 397,000 |
Change in fair value of warrant liability | (1,577,000) | (3,845,000) |
Operating lease, net | 113,000 | 99,000 |
Changes in operating assets and liabilities: | ||
Prepaid expenses and other current assets | 299,000 | 611,000 |
Accounts payable | 799,000 | (947,000) |
Accrued expenses and other current liabilities | 738,000 | 506,000 |
Net cash used in operating activities | (3,624,000) | (4,342,000) |
Cash flows from investing activities: | ||
Purchase of fixed assets | 0 | (2,000) |
Net cash used in investing activities | 0 | (2,000) |
Cash flows from financing activities: | ||
Proceeds from exercise of warrants | 63,000 | 0 |
Proceeds from sale of common stock, net of issuance costs | 74,685,000 | 5,291,000 |
Net cash provided by financing activities | 74,748,000 | 5,291,000 |
Effect of exchange rate changes on cash and cash equivalents | (4,000) | (33,000) |
Net change in cash and cash equivalents | 71,120,000 | 914,000 |
Cash and cash equivalents, at beginning of period | 15,173,000 | 10,735,000 |
Cash and cash equivalents, at end of period | 86,293,000 | 11,649,000 |
Supplemental disclosures of cash flow information: | ||
Cash paid for taxes | 0 | 6,000 |
Non-cash investing and financing activities: | ||
Purchases of property and equipment in accounts payable and accrued liabilities | $ 0 | $ 23,000 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Common Stock Subscribed [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Subscription Receivable [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 7,621,338 | 0 | |||||
Balance at Dec. 31, 2019 | $ 46 | $ 0 | $ 55,055 | $ (39,561) | $ 31 | $ 0 | $ 15,571 |
Issuance of common stock, net of issuance costs (in shares) | 1,250,000 | 0 | |||||
Issuance of common stock, net of issuance costs | $ 7 | $ 0 | 559 | 0 | 0 | 0 | 566 |
Stock-based compensation | 0 | 0 | 397 | 0 | 0 | 0 | 397 |
Consolidated net loss | 0 | 0 | 0 | (1,209) | 0 | 0 | (1,209) |
Foreign currency translation | $ 0 | $ 0 | 0 | 0 | (33) | 0 | (33) |
Balance (in shares) at Mar. 31, 2020 | 8,871,338 | 0 | |||||
Balance at Mar. 31, 2020 | $ 53 | $ 0 | 56,011 | (40,770) | (2) | 0 | 15,292 |
Balance (in shares) at Dec. 31, 2020 | 11,536,720 | 26,966 | |||||
Balance at Dec. 31, 2020 | $ 69 | $ 0 | 74,671 | (56,916) | 65 | (129) | 17,760 |
Issuance of common stock, net of issuance costs (in shares) | 16,883,420 | (26,966) | |||||
Issuance of common stock, net of issuance costs | $ 18 | $ 0 | 74,537 | 0 | 0 | 129 | 74,684 |
Reverse stock split (in shares) | 14,285 | 0 | |||||
Reverse stock split | $ (60) | $ 0 | 60 | 0 | 0 | 0 | $ 0 |
Warrants exercised (in shares) | 10,000 | 0 | 10,000 | ||||
Warrants exercised | $ 1 | $ 0 | 115 | 0 | 0 | 0 | $ 116 |
Stock-based compensation | 0 | 0 | 405 | 0 | 0 | 0 | 405 |
Consolidated net loss | 0 | 0 | 0 | (4,445) | 0 | 0 | (4,445) |
Foreign currency translation | $ 0 | $ 0 | 0 | 0 | (4) | 0 | (4) |
Balance (in shares) at Mar. 31, 2021 | 28,444,425 | 0 | |||||
Balance at Mar. 31, 2021 | $ 28 | $ 0 | $ 149,788 | $ (61,361) | $ 61 | $ 0 | $ 88,516 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Issued for cash - sale of common stock, issuance costs | $ 6,159 | $ 709 |
Note 1 - Nature of Business
Note 1 - Nature of Business | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Nature of Business and Liquidity [Text Block] | 1. The terms "MBI" or "the Company", "we", "our", and "us" are used herein to refer to Moleculin Biotech, Inc. MBI is a clinical-stage pharmaceutical company, organized as a Delaware corporation in July 2015. June 2018, 2019, 29 2019, The Company has three 1 2 WP1066 one 3 WP1122 six three three 2020, three five WP1066 1 WP1220 1/2 2021, four three 2020. In late 2020, 1b/2 second 2021. second 1b/2 1/2 1 WP1122 19 19 WP1122 may 19 2021. 2 WP1220 The Company does not third not not COVID- 19 March 2020, 19 19 19 19, 19 19, not 19 19 may |
Note 2 - Basis of Presentation,
Note 2 - Basis of Presentation, Principles of Consolidation, Significant Accounting Policies and Liquidity | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Reverse Stock Split January 29, 2021, 1 6. 10 may Basis of Presentation – Unaudited Interim Condensed Consolidated Financial Information - 10 8 X. not not December 31, 2020 December 31, 2019 10 March 24, 2021. Principles of Consolidation one Significant Accounting Policies 2, Basis of Presentation, principles of consolidation and significant accounting policies 10 December 31, 2020 no three March 31, 2021 Use of Estimates - may may may Liquidity and Financial Condition not three March 31, 2021 2020 March 31, 2021 March 31, 2021 not no Cash and Cash Equivalents one may not not Fair Value of Financial Instruments - The Company has categorized its assets and liabilities that are valued at fair value on a recurring basis into a three 1 3 Assets and liabilities recorded in the balance sheets at fair value are categorized based on a hierarchy of inputs as follows: Level 1 Level 2 Level 3 The Company’s financial assets and liabilities recorded at fair value on a recurring basis include the fair value of warrant liability discussed in Note 4. The following table provides liabilities reported at fair value and measured on a recurring basis at March 31, 2021 December 31, 2020 Description Fair Value Level 1 Level 2 Level 3 Fair value of warrant liability as of March 31, 2021: $ 6,563 $ — $ — $ 6,563 Fair value of warrant liability as of December 31, 2020: $ 8,192 $ — $ — $ 8,192 The table below (in thousands) of Level 3 first first 2021 first 3 may not not Three Months Ended March 31, 2021 Warrant Liability Long-Term Warrant Liability Total Balance, December 31, 2020 $ 8,192 $ 8,192 Exercise of warrants (52 ) (52 ) Change in fair value - net (1,577 ) (1,577 ) Balance, March 31, 2021 $ 6,563 $ 6,563 Loss Per Common Share three March 31, 2021 2020 Subsequent Events - 8 Recent Accounting Pronouncements In August 2020, No. 2020 06, 470 20 815 40 2020 06 2020 06 January 1, 2022 The Company does not not |
Note 3 - Accrued Expenses and O
Note 3 - Accrued Expenses and Other Current Liabilities | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | 3. Accrued expenses and other current liabilities consist of the following components (in thousands): March 31, 2021 December 31, 2020 Accrued research and development $ 1,299 $ 907 Accrued payroll and bonuses 810 426 Accrued legal, regulatory, professional and other 324 262 Operating lease liability - current 122 118 Accrued related party 95 78 Total accrued expenses and other current liabilities $ 2,650 $ 1,791 Additionally, accounts payable includes $48,000 as of March 31, 2021 December 31, 2020 |
Note 4 - Warrants
Note 4 - Warrants | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Warrants Disclosure [Text Block] | 4. Liability Classified Warrants The Company uses the Black-Scholes option pricing model (BSM) to determine the fair value of its warrants at the date of issue and outstanding at each reporting date. The risk-free interest rate assumption is based upon observed interest rates on zero 2020, The assumptions used in determining the fair value of the liability classified warrants are as follows: March 31, 2021 December 31, 2020 Risk-free interest rate 0.1% to 0.7% 0.1% to 0.3% Volatility 96.5% to 136.1% 113.7% to 127.4% Expected life (years) 0.9 to 4.5 1.1 to 4.6 Dividend yield —% —% A summary of the Company's liability classified warrant activity during the three March 31, 2021 Number of Shares Range of Warrant Exercise Weighted Average Weighted Average Remaining Contractual Under Warrant Price per Share Exercise Price Life (Years) Balance at January 1, 2021 2,733,645 $ 6.30 $ 16.80 $ 9.45 3.6 Granted — — — — — Exercised (10,000 ) 6.30 6.30 6.30 — Expired — — — — — Balance at March 31, 2021 2,723,645 $ 6.30 $ 16.80 $ 9.46 3.4 Exercisable at March 31, 2021 2,723,645 $ 6.30 $ 16.80 $ 9.46 3.4 For a summary of the changes in fair value associated with the Company's warrant liability for the three March 31, 2021 2 Equity Classified Warrants At March 31, 2021 December 31, 2020 There was no stock compensation expense for non-employee agreements equity classified warrants for the three March 31, 2021 2020 |
Note 5 - Equity
Note 5 - Equity | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 5. Q1 2021 In February 2021, 30 January 2021 2020 February 2, 2021. first 2021, 10,000 $63,000. Q1 2020 In February 2020, Stock-Based Compensation and Outstanding Awards The 2015 March 31, 2021 2015 not three March 31, 2021 Stock-based compensation for the three March 31, 2021 2020 Three Months Ended March 31, 2021 2020 General and administrative $ 309 $ 334 Research and development 96 63 Total stock-based compensation expense $ 405 $ 397 |
Note 6 - Income Taxes
Note 6 - Income Taxes | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 6. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company does not 2021 three March 31, 2021 2021 not” not March 31, 2021 The Company recorded no income tax provision for the three March 31, 2021 2020 three March 31, 2021 2020 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 7. In addition to the commitments and contingencies described elsewhere in these notes, see below for a discussion of the Company's commitments and contingencies as of March 31, 2021 Lease Obligations Payable The following summarizes quantitative information about the Company's operating leases for the three March 31, 2021 2020 Three Months Ended March 31, 2021 2020 Lease cost: Operating lease cost $ 29 $ 29 Variable lease cost 7 7 Short-term lease cost — 4 Total $ 36 $ 40 The Company recorded approximately $10,000 in sublease income from a related party for the three March 31, 2021 2020 three March 31, 2021 2020 At March 31, 2021 842 Maturity of lease liabilities As of March 31, 2021 2021 (remaining nine months) $ 104 2022 105 2023 56 2024 10 2025 and thereafter — Total lease payments 275 Less: imputed interest (26 ) Present value of operating lease liabilities $ 249 As of March 31, 2021 not Licenses MD Anderson - three March 31, 2021 2020 HPI - March 16, 2020, two first two second sixty three March 31, 2021 2020 Sponsored Research Agreements with MD Anderson - October 2021. February 2021, December 31, 2022. three March 31, 2021 2020 |
Note 8 - Subsequent Events
Note 8 - Subsequent Events | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 8. In addition to the subsequent events discussed elsewhere in these notes, see below for a discussion of the Company's subsequent events occurring after March 31, 2021 The Company entered into an agreement, effective subsequent to March 31, 2021, 5,000 April 1, 2021 December 31, 2021. April 29, 2021 five |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation – Unaudited Interim Condensed Consolidated Financial Information - 10 8 X. not not December 31, 2020 December 31, 2019 10 March 24, 2021. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation one |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates - may may may |
Liquidity and Financial Condition [Policy Text Block] | Liquidity and Financial Condition not three March 31, 2021 2020 March 31, 2021 March 31, 2021 not no |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents one may not not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments - The Company has categorized its assets and liabilities that are valued at fair value on a recurring basis into a three 1 3 Assets and liabilities recorded in the balance sheets at fair value are categorized based on a hierarchy of inputs as follows: Level 1 Level 2 Level 3 The Company’s financial assets and liabilities recorded at fair value on a recurring basis include the fair value of warrant liability discussed in Note 4. The following table provides liabilities reported at fair value and measured on a recurring basis at March 31, 2021 December 31, 2020 Description Fair Value Level 1 Level 2 Level 3 Fair value of warrant liability as of March 31, 2021: $ 6,563 $ — $ — $ 6,563 Fair value of warrant liability as of December 31, 2020: $ 8,192 $ — $ — $ 8,192 The table below (in thousands) of Level 3 first first 2021 first 3 may not not Three Months Ended March 31, 2021 Warrant Liability Long-Term Warrant Liability Total Balance, December 31, 2020 $ 8,192 $ 8,192 Exercise of warrants (52 ) (52 ) Change in fair value - net (1,577 ) (1,577 ) Balance, March 31, 2021 $ 6,563 $ 6,563 |
Earnings Per Share, Policy [Policy Text Block] | Loss Per Common Share three March 31, 2021 2020 |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events - 8 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In August 2020, No. 2020 06, 470 20 815 40 2020 06 2020 06 January 1, 2022 The Company does not not |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation, Principles of Consolidation, Significant Accounting Policies and Liquidity (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Description Fair Value Level 1 Level 2 Level 3 Fair value of warrant liability as of March 31, 2021: $ 6,563 $ — $ — $ 6,563 Fair value of warrant liability as of December 31, 2020: $ 8,192 $ — $ — $ 8,192 Three Months Ended March 31, 2021 Warrant Liability Long-Term Warrant Liability Total Balance, December 31, 2020 $ 8,192 $ 8,192 Exercise of warrants (52 ) (52 ) Change in fair value - net (1,577 ) (1,577 ) Balance, March 31, 2021 $ 6,563 $ 6,563 |
Note 3 - Accrued Expenses and_2
Note 3 - Accrued Expenses and Other Current Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | March 31, 2021 December 31, 2020 Accrued research and development $ 1,299 $ 907 Accrued payroll and bonuses 810 426 Accrued legal, regulatory, professional and other 324 262 Operating lease liability - current 122 118 Accrued related party 95 78 Total accrued expenses and other current liabilities $ 2,650 $ 1,791 |
Note 4 - Warrants (Tables)
Note 4 - Warrants (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Warrants or Rights, Assumptions Used [Table Text Block] | March 31, 2021 December 31, 2020 Risk-free interest rate 0.1% to 0.7% 0.1% to 0.3% Volatility 96.5% to 136.1% 113.7% to 127.4% Expected life (years) 0.9 to 4.5 1.1 to 4.6 Dividend yield —% —% |
Schedule of Warrant Activity [Table Text Block] | Number of Shares Range of Warrant Exercise Weighted Average Weighted Average Remaining Contractual Under Warrant Price per Share Exercise Price Life (Years) Balance at January 1, 2021 2,733,645 $ 6.30 $ 16.80 $ 9.45 3.6 Granted — — — — — Exercised (10,000 ) 6.30 6.30 6.30 — Expired — — — — — Balance at March 31, 2021 2,723,645 $ 6.30 $ 16.80 $ 9.46 3.4 Exercisable at March 31, 2021 2,723,645 $ 6.30 $ 16.80 $ 9.46 3.4 |
Note 5 - Equity (Tables)
Note 5 - Equity (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed, Amount [Table Text Block] | Three Months Ended March 31, 2021 2020 General and administrative $ 309 $ 334 Research and development 96 63 Total stock-based compensation expense $ 405 $ 397 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended March 31, 2021 2020 Lease cost: Operating lease cost $ 29 $ 29 Variable lease cost 7 7 Short-term lease cost — 4 Total $ 36 $ 40 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturity of lease liabilities As of March 31, 2021 2021 (remaining nine months) $ 104 2022 105 2023 56 2024 10 2025 and thereafter — Total lease payments 275 Less: imputed interest (26 ) Present value of operating lease liabilities $ 249 |
Note 1 - Nature of Business (De
Note 1 - Nature of Business (Details Textual) | Mar. 31, 2021 |
Number of Core Drug Technologies | 3 |
Number of Drug Candidates | 6 |
Number Of Drugs In Clinical Trials | 5 |
Animal Life Sciences, Inc [Member] | |
Equity Method Investment, Ownership Percentage | 10.00% |
Note 2 - Basis of Presentatio_3
Note 2 - Basis of Presentation, Principles of Consolidation, Significant Accounting Policies and Liquidity (Details Textual) $ in Thousands, shares in Millions | Jan. 29, 2021 | Mar. 31, 2021USD ($)shares | Mar. 31, 2020USD ($)shares | Dec. 31, 2020USD ($) |
Net Income (Loss) Attributable to Parent, Total | $ (4,445) | $ (1,209) | ||
Net Cash Provided by (Used in) Operating Activities, Total | (3,624) | $ (4,342) | ||
Retained Earnings (Accumulated Deficit), Ending Balance | (61,361) | $ (56,916) | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 86,293 | $ 15,173 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 3.8 | 3.1 | ||
Reverse Stock Split [Member] | ||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 6 |
Note 2 - Basis of Presentatio_4
Note 2 - Basis of Presentation, Principles of Consolidation, Significant Accounting Policies and Liquidity - Schedule of Fair Value Measurements, Recurring and Nonrecurring (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Balance | $ 8,192 | |
Exercise of warrants | (52) | |
Change in fair value - net | (1,577) | |
Balance | 6,563 | |
Warrant Liability Long Term [Member] | ||
Balance | 8,192 | |
Exercise of warrants | (52) | |
Change in fair value - net | (1,577) | |
Balance | 6,563 | |
Warrant Liability [Member] | Fair Value, Recurring [Member] | ||
Fair value of warrant liability | 6,563 | $ 8,192 |
Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value of warrant liability | 0 | 0 |
Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value of warrant liability | 0 | 0 |
Warrant Liability [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value of warrant liability | $ 6,563 | $ 8,192 |
Note 3 - Accrued Expenses and_3
Note 3 - Accrued Expenses and Other Current Liabilities (Details Textual) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
HPI [Member] | ||
Accounts Payable, Related Parties, Current | $ 48,000 | $ 48,000 |
Note 3 - Accrued Expenses and_4
Note 3 - Accrued Expenses and Other Current Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Accrued research and development | $ 1,299 | $ 907 |
Accrued payroll and bonuses | 810 | 426 |
Accrued legal, regulatory, professional and other | 324 | 262 |
Accrued related party | 95 | 78 |
Total accrued expenses and other current liabilities | 2,650 | 1,791 |
Accounts Payable and Accrued Liabilities [Member] | ||
Operating lease liability - current | $ 122 | $ 118 |
Note 4 - Warrants (Details Text
Note 4 - Warrants (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Share-based Payment Arrangement, Expense | $ 405,000 | $ 397,000 | |
Equity Classified Warrants [Member] | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 109,639 | 109,639 | |
Class of Warrant or Right, Vested and Exercisable (in shares) | 85,472 | 85,472 | |
Share-based Payment Arrangement, Expense | $ 0 | 0 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 124,000 | $ 124,000 |
Note 4 - Warrants - Assumptions
Note 4 - Warrants - Assumptions Used (Details) | Mar. 31, 2021 | Dec. 31, 2020 |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, assumptions | 0.001 | 0.001 |
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants, assumptions | 0.965 | 1.137 |
Minimum [Member] | Measurement Input, Expected Term [Member] | ||
Warrants, assumptions | 0.9 | 1.1 |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, assumptions | 0.007 | 0.003 |
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants, assumptions | 1.361 | 1.274 |
Maximum [Member] | Measurement Input, Expected Term [Member] | ||
Warrants, assumptions | 4.5 | 4.6 |
Note 4 - Warrants - Warrant Act
Note 4 - Warrants - Warrant Activity (Details) - Liability Classified Warrants [Member] - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Balance, number of shares under warrants (in shares) | 2,733,645 | |
Balance, weighted average remaining contractual life (Year) | 3 years 4 months 24 days | 3 years 7 months 6 days |
Granted, number of shares under warrants (in shares) | 0 | |
Exercised, number of shares under warrants (in shares) | (10,000) | |
Expired, number of shares under warrants (in shares) | 0 | |
Balance, number of shares under warrants (in shares) | 2,723,645 | 2,733,645 |
Vested and Exercisable, number of shares under warrants (in shares) | 2,723,645 | |
Vested and Exercisable, weighted average remaining contractual life (Year) | 3 years 4 months 24 days | |
Minimum [Member] | ||
Balance, warrant exercise price (in dollars per share) | $ 6.30 | |
Granted, warrant exercise price (in dollars per share) | 0 | |
Exercised, warrant exercise price (in dollars per share) | 6.30 | |
Balance, warrant exercise price (in dollars per share) | 6.30 | $ 6.30 |
Vested and Exercisable, warrant exercise price (in dollars per share) | 6.30 | |
Maximum [Member] | ||
Balance, warrant exercise price (in dollars per share) | 16.80 | |
Granted, warrant exercise price (in dollars per share) | 0 | |
Exercised, warrant exercise price (in dollars per share) | 6.30 | |
Balance, warrant exercise price (in dollars per share) | 16.80 | 16.80 |
Vested and Exercisable, warrant exercise price (in dollars per share) | 16.80 | |
Weighted Average [Member] | ||
Balance, warrant exercise price (in dollars per share) | 9.45 | |
Granted, warrant exercise price (in dollars per share) | 0 | |
Exercised, warrant exercise price (in dollars per share) | 6.30 | |
Balance, warrant exercise price (in dollars per share) | 9.46 | $ 9.45 |
Vested and Exercisable, warrant exercise price (in dollars per share) | $ 9.46 |
Note 5 - Equity (Details Textua
Note 5 - Equity (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | |||
Feb. 28, 2021 | Jan. 31, 2021 | Feb. 29, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Proceeds from Issuance of Common Stock | $ 74,685,000 | $ 5,291,000 | |||
Stock Issued During Period, Shares, Warrant Exercises (in shares) | 10,000 | ||||
Proceeds from Warrant Exercises | $ 63,000 | $ 0 | |||
The 2015 Stock Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 726,493 | ||||
Warrants Issued in Connection with the February 2020 Stock Offering [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 937,501 | ||||
February 2021 Stock Offering [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 14,273,684 | ||||
Shares Issued, Price Per Share (in dollars per share) | $ 4.75 | ||||
Proceeds from Issuance of Common Stock | $ 78,000,000 | ||||
Over-Allotment Option [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,141,052 | ||||
The 2020 ATM Agreement [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 468,684 | ||||
Proceeds from Issuance of Common Stock | $ 2,900,000 | ||||
February 2020 Stock Offering [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,250,000 | ||||
Shares and Warrants Issued in Period, Purchase Price Per Share and Related Warrant (in dollars per share) | $ 4.80 | ||||
Proceeds from Issuance or Sale of Equity, Total | $ 6,000,000 |
Note 5 - Equity - Stock-based C
Note 5 - Equity - Stock-based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Stock-based compensation expense | $ 405 | $ 397 |
General and Administrative Expense [Member] | ||
Stock-based compensation expense | 309 | 334 |
Research and Development Expense [Member] | ||
Stock-based compensation expense | $ 96 | $ 63 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) Pure in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 |
Effective Income Tax Rate Reconciliation, Percent, Total | 0.00% | 0.00% |
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | $ 0 |
Note 7 - Commitments and Cont_3
Note 7 - Commitments and Contingencies (Details Textual) | Mar. 16, 2020USD ($) | Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) |
Sublease Income | $ 10,000 | $ 10,000 | |
Operating Lease, Payments | $ 34,000 | 33,000 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 2 years 2 months 12 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 9.60% | ||
License Agreements Expense | $ 38,000 | 61,000 | |
Research and Development Expense, Total | 4,105,000 | 3,206,000 | |
MD Anderson [Member] | |||
Research and Development Expense, Total | 94,000 | 179,000 | |
Houston Pharmaceuticals, Inc [Member] | |||
Related Party Transaction, Expenses from Transactions with Related Party | $ 59,000 | $ 108,500 | |
Houston Pharmaceuticals, Inc [Member] | Consulting Agreement on Licensed Molecules [Member] | |||
Other Commitments, Number of Agreements | 2 | ||
Other Commitment, Total | $ 43,500 | ||
Houston Pharmaceuticals, Inc [Member] | Agreement Providing Access to Laboratory Equipment [Member] | |||
Other Commitment, Total | $ 15,000 | ||
Other Commitments, Cancellation Period (Day) | 60 days |
Note 7 - Commitments and Cont_4
Note 7 - Commitments and Contingencies - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating lease cost | $ 29 | $ 29 |
Variable lease cost | 7 | 7 |
Short-term lease cost | 0 | 4 |
Total | $ 36 | $ 40 |
Note 7 - Commitments and Cont_5
Note 7 - Commitments and Contingencies - Future Minimum Liabilities (Details) $ in Thousands | Mar. 31, 2021USD ($) |
2021 (remaining nine months) | $ 104 |
2022 | 105 |
2023 | 56 |
2024 | 10 |
2025 and thereafter | 0 |
Total lease payments | 275 |
Less: imputed interest | (26) |
Present value of operating lease liabilities | $ 249 |
Note 8 - Subsequent Events (Det
Note 8 - Subsequent Events (Details Textual) - shares | 9 Months Ended | |
Dec. 31, 2021 | Apr. 29, 2021 | |
Subsequent Event [Member] | Warrant Issued in April 2021 for Consulting [Member] | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 71,500 | |
Warrants and Rights Outstanding, Term (Year) | 5 years | |
Forecast [Member] | ||
Stock Issued During Period, Shares, Issued for Services (in shares) | 5,000 |