Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2022 | May 04, 2022 | |
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 | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2022 | |
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 | ||
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 | false | |
Entity Shell Company | false | |
Title of 12(b) Security | Common Stock, par value $0.001 per share | |
Trading Symbol | MBRX | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 28,578,338 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 66,104 | $ 70,903 |
Prepaid expenses and other current assets | 1,156 | 1,594 |
Total current assets | 67,260 | 72,497 |
Furniture and equipment, net | 312 | 338 |
Intangible assets | 11,148 | 11,148 |
Operating lease right-of-use asset | 81 | 107 |
Total assets | 78,801 | 84,090 |
Current liabilities: | ||
Accounts payable | 2,224 | 1,364 |
Accrued expenses and other current liabilities | 2,610 | 2,258 |
Total current liabilities | 4,834 | 3,622 |
Operating lease liability - long-term, net of current portion | 50 | 63 |
Warrant liability - long-term | 1,252 | 1,412 |
Total liabilities | 6,136 | 5,097 |
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; 28,578,338 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively | 29 | 29 |
Additional paid-in capital | 152,260 | 151,733 |
Accumulated other comprehensive income | 53 | 41 |
Accumulated deficit | (79,677) | (72,810) |
Total stockholders’ equity | 72,665 | 78,993 |
Total liabilities and stockholders’ equity | $ 78,801 | $ 84,090 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
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) | 28,578,338 | 28,578,338 |
Common stock, shares outstanding (in shares) | 28,578,338 | 28,578,338 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Revenues | $ 0 | $ 0 |
Operating expenses: | ||
Research and development | 4,620 | 4,105 |
General and administrative | 2,422 | 1,939 |
Depreciation and amortization | 32 | 44 |
Total operating expenses | 7,074 | 6,088 |
Loss from operations | (7,074) | (6,088) |
Other income: | ||
Gain from change in fair value of warrant liability | 160 | 1,577 |
Other income, net | 5 | 9 |
Interest income, net | 42 | 57 |
Net loss | $ (6,867) | $ (4,445) |
Net loss per common share - basic and diluted (in dollars per share) | $ (0.24) | $ (0.20) |
Weighted average common shares outstanding, basic and diluted (in shares) | 28,578,338 | 21,808,565 |
Net loss | $ (6,867) | $ (4,445) |
Other comprehensive income (loss): | ||
Foreign currency translation | 12 | (4) |
Comprehensive loss | $ (6,855) | $ (4,449) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities: | ||
Net loss | $ (6,867) | $ (4,445) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 32 | 44 |
Stock-based compensation | 527 | 405 |
Change in fair value of warrant liability | (160) | (1,577) |
Operating lease, net | 90 | 113 |
Changes in operating assets and liabilities: | ||
Prepaid expenses and other current assets | 438 | 299 |
Accounts payable | 860 | 799 |
Accrued expenses and other current liabilities | 275 | 738 |
Net cash used in operating activities | (4,805) | (3,624) |
Cash flows from investing activities: | ||
Purchase of fixed assets | (6) | 0 |
Net cash used in investing activities | (6) | 0 |
Cash flows from financing activities: | ||
Proceeds from exercise of warrants | 0 | 63 |
Proceeds from sale of common stock, net of issuance costs | 0 | 74,685 |
Net cash provided by financing activities | 0 | 74,748 |
Effect of exchange rate changes on cash and cash equivalents | 12 | (4) |
Net change in cash and cash equivalents | (4,799) | 71,120 |
Cash and cash equivalents, at beginning of period | 70,903 | 15,173 |
Cash and cash equivalents, at end of period | 66,104 | 86,293 |
Supplemental disclosures of cash flow information: | ||
Cash paid for taxes | $ 109 | $ 0 |
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, 2020 | 11,536,720 | 26,966 | |||||
Balance at Dec. 31, 2020 | $ 69 | $ 0 | $ 74,671 | $ (56,916) | $ 65 | $ (129) | $ 17,760 |
Stock-based compensation | 0 | 0 | 405 | 0 | 0 | 0 | 405 |
Consolidated net loss | 0 | 0 | 0 | (4,445) | 0 | 0 | (4,445) |
Cumulative translation adjustment | $ 0 | $ 0 | 0 | 0 | (4) | 0 | (4) |
Issuance of common stock, net of issuance costs of $6,159 (in shares) | 16,883,420 | (26,966) | |||||
Issuance of common stock, net of issuance costs of $6,159 | $ 18 | $ 0 | 74,537 | 0 | 0 | 129 | 74,684 |
Reverse stock split (in shares) | 14,285 | ||||||
Reverse stock split | $ (60) | 60 | 0 | 0 | 0 | ||
Warrants exercised (in shares) | 10,000 | ||||||
Warrants exercised | $ 1 | 115 | 0 | 0 | 116 | ||
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 |
Balance (in shares) at Dec. 31, 2021 | 28,578,338 | 0 | |||||
Balance at Dec. 31, 2021 | $ 29 | $ 0 | 151,733 | (72,810) | 41 | 0 | 78,993 |
Stock-based compensation | 0 | 0 | 527 | 0 | 0 | 0 | 527 |
Consolidated net loss | 0 | 0 | 0 | (6,867) | 0 | 0 | (6,867) |
Cumulative translation adjustment | $ 0 | $ 0 | 0 | 0 | 12 | 0 | $ 12 |
Issuance of common stock, net of issuance costs of $6,159 (in shares) | 0 | ||||||
Balance (in shares) at Mar. 31, 2022 | 28,578,338 | 0 | |||||
Balance at Mar. 31, 2022 | $ 29 | $ 0 | $ 152,260 | $ (79,677) | $ 53 | $ 0 | $ 72,665 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Issued for cash - sale of common stock, issuance costs | $ 6,159 |
Note 1 - Nature of Business
Note 1 - Nature of Business | 3 Months Ended |
Mar. 31, 2022 | |
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, July 2021, In 2019, 25 December 2021. 2019, The Company has three six three The Company's core technologies consist of the following: a) Annamycin; b) WP1066 WP1122 six three three WP1066, WP1220, WP1122. 1 WP1220 2021 2022, three WP1066. not The Company does not third not |
Note 2 - Basis of Presentation,
Note 2 - Basis of Presentation, Principles of Consolidation, Significant Accounting Policies and Liquidity | 3 Months Ended |
Mar. 31, 2022 | |
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, 2021 10 March 24, 2022. Principles of Consolidation one Significant Accounting Policies 2, Basis of Presentation, principles of consolidation and significant accounting policies 10 December 31, 2021 no three March 31, 2022 Use of Estimates - may may may Liquidity and Financial Condition not three March 31, 2022 2021 of million d $4.4 million, f million million, r March 31, 2022 of million a million. March 31, 2022 not no Cash and Cash Equivalents one may not not Prepaid Expenses and Other Current Assets - March 31, 2022 December 31, 2021 Vendor prepayments and deposits $ 557 $ 486 Prepaid sponsored research 329 474 Prepaid insurance 243 589 Related party receivables 22 22 Non-trade receivables 5 23 Total prepaid expenses and other current assets $ 1,156 $ 1,594 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, 2022 December 31, 2021 Description Fair Value Level 1 Level 2 Level 3 Fair value of warrant liability as of March 31, 2022: $ 1,252 $ — $ — $ 1,252 Fair value of warrant liability as of December 31, 2021: $ 1,412 $ — $ — $ 1,412 The table below of Level 3 first first 3 may not not Three Months Ended March 31, 2022 Warrant Liability Long-Term Warrant Liability Total Balance, December 31, 2021 $ 1,412 $ 1,412 Change in fair value - net (160 ) (160 ) Balance, March 31, 2022 $ 1,252 $ 1,252 Loss Per Common Share three March 31, 2022 2021 4.8 million and ap Subsequent Events - 8 Recent Accounting Pronouncements In August 2020, No. 2020 06, 470 20 815 40 2020 06 2020 06 January 1, 2022 January 1, 2022 not In May 2021, No. 2021 04, 260 470 50 718 815 40 2021 04 December 15, 2021, January 1, 2022 not The Company does not not |
Note 3 - Accrued Expenses and O
Note 3 - Accrued Expenses and Other Current Liabilities | 3 Months Ended |
Mar. 31, 2022 | |
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, 2022 December 31, 2021 Accrued research and development $ 1,035 $ 1,005 Accrued payroll and bonuses 869 606 Accrued legal, regulatory, professional and other 505 442 Accrued liabilities due to related party 124 109 Operating lease liability - current 77 96 Total accrued expenses and other current liabilities $ 2,610 $ 2,258 Additionally, accounts payable includes $21,000 and $48,000 March 31, 2022 December 31, 2021 |
Note 4 - Warrants
Note 4 - Warrants | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Warrants Disclosure [Text Block] | 4. Liability Classified Warrants The Company uses the Black-Scholes option pricing model 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 The assumptions used in determining the fair value of the liability classified warrants are as follows: March 31, 2022 December 31, 2021 Risk-free interest rate 1.5% to 2.4% 0.1% to 1.1% Volatility 50.0% to 112.2% 71.8% to 114.5% Expected life (years) 0.9 to 3.4 0.1 to 3.6 Dividend yield —% —% A summary of the Company's liability classified warrant activity during the three March 31, 2022 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, 2022 2,723,645 $ 6.30 $ 16.80 $ 9.46 2.6 Expired (67,349 ) 8.10 9.00 — — Balance at March 31, 2022 2,656,296 $ 6.30 $ 16.80 $ 9.49 2.4 Exercisable at March 31, 2022 2,656,296 $ 6.30 $ 16.80 $ 9.49 2.4 For a summary of the changes in fair value associated with the Company's warrant liability for the three March 31, 2022 2 Equity Classified Warrants In April 2021, five five August 2021, ten August 2021 50% not one 50% 60 one April 2021 August 2021 At March 31, 2022 d 396,502 e d 190,135 w December 31, 2021 The Company recorded stock compensation expense for eq uity classified warrants of $83,000 and zero three March 31, 2022 2021 , respectively. At March 31, 2022 , there was $465,000 |
Note 5 - Equity
Note 5 - Equity | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 5. 2022 The Company did not three March 31, 2022. 2021 In February 2021, 30 January 2021 2020 2020 2020 February 2, 2021. Stock-Based Compensation and Outstanding Awards The 2015 March 31, 2022 e 19,961 sh 2015 Stock-based compensation for the three March 31, 2022 2021 Three Months Ended March 31, 2022 2021 General and administrative $ 361 $ 309 Research and development 166 96 Total stock-based compensation expense $ 527 $ 405 During the three March 31, 2022 three four |
Note 6 - Income Taxes
Note 6 - Income Taxes | 3 Months Ended |
Mar. 31, 2022 | |
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 2022 three March 31, 2022 2022 not” not March 31, 2022 December 31, 2021 The Company recorded no income tax provision for the three March 31, 2022 2021 three March 31, 2022 2021 no |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2022 | |
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, 2022 Lease Obligations Payable The following summarizes quantitative information about the Company's operating leases for the three March 31, 2022 2021 Three Months Ended March 31, 2022 2021 Lease cost: Operating lease cost $ 29 $ 29 Variable lease cost 7 7 Total $ 36 $ 36 The Company recorded approximatel y $10,000 i three March 31, 2022 2021 as $35,000 a three March 31, 2022 2021 Licenses MD Anderson - $76,000 a three March 31, 2022 2021 HPI - March 16, 2020, two first two second sixty e $59,000 f three March 31, 2022 2021 Sponsored Research Agreements - December 31, 2022. In July 2021, the Company also has Sponsored Research Agreements with other universities, one one otal expenses related to the Company's Sponsored Research e $187,000 a three March 31, 2022 2021 License Terminations February 2022, 10 March 2021, WP1732, WP1066 March 2021 WP1732 three March 31, 2022 2021 |
Note 8 - Subsequent Events
Note 8 - Subsequent Events | 3 Months Ended |
Mar. 31, 2022 | |
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 our subsequent events occurring after March 31, 2022. In April 2022, May 2022. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
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, 2021 10 March 24, 2022. |
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, 2022 2021 of million d $4.4 million, f million million, r March 31, 2022 of million a million. March 31, 2022 not no |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents one may not not |
Prepaid Expenses and Other Current Assets [Policy Text Block] | Prepaid Expenses and Other Current Assets - March 31, 2022 December 31, 2021 Vendor prepayments and deposits $ 557 $ 486 Prepaid sponsored research 329 474 Prepaid insurance 243 589 Related party receivables 22 22 Non-trade receivables 5 23 Total prepaid expenses and other current assets $ 1,156 $ 1,594 |
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, 2022 December 31, 2021 Description Fair Value Level 1 Level 2 Level 3 Fair value of warrant liability as of March 31, 2022: $ 1,252 $ — $ — $ 1,252 Fair value of warrant liability as of December 31, 2021: $ 1,412 $ — $ — $ 1,412 The table below of Level 3 first first 3 may not not Three Months Ended March 31, 2022 Warrant Liability Long-Term Warrant Liability Total Balance, December 31, 2021 $ 1,412 $ 1,412 Change in fair value - net (160 ) (160 ) Balance, March 31, 2022 $ 1,252 $ 1,252 |
Earnings Per Share, Policy [Policy Text Block] | Loss Per Common Share three March 31, 2022 2021 4.8 million and ap |
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 January 1, 2022 not In May 2021, No. 2021 04, 260 470 50 718 815 40 2021 04 December 15, 2021, January 1, 2022 not 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, 2022 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | March 31, 2022 December 31, 2021 Vendor prepayments and deposits $ 557 $ 486 Prepaid sponsored research 329 474 Prepaid insurance 243 589 Related party receivables 22 22 Non-trade receivables 5 23 Total prepaid expenses and other current assets $ 1,156 $ 1,594 |
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, 2022: $ 1,252 $ — $ — $ 1,252 Fair value of warrant liability as of December 31, 2021: $ 1,412 $ — $ — $ 1,412 Three Months Ended March 31, 2022 Warrant Liability Long-Term Warrant Liability Total Balance, December 31, 2021 $ 1,412 $ 1,412 Change in fair value - net (160 ) (160 ) Balance, March 31, 2022 $ 1,252 $ 1,252 |
Note 3 - Accrued Expenses and_2
Note 3 - Accrued Expenses and Other Current Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | March 31, 2022 December 31, 2021 Accrued research and development $ 1,035 $ 1,005 Accrued payroll and bonuses 869 606 Accrued legal, regulatory, professional and other 505 442 Accrued liabilities due to related party 124 109 Operating lease liability - current 77 96 Total accrued expenses and other current liabilities $ 2,610 $ 2,258 |
Note 4 - Warrants (Tables)
Note 4 - Warrants (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Warrants or Rights, Assumptions Used [Table Text Block] | March 31, 2022 December 31, 2021 Risk-free interest rate 1.5% to 2.4% 0.1% to 1.1% Volatility 50.0% to 112.2% 71.8% to 114.5% Expected life (years) 0.9 to 3.4 0.1 to 3.6 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, 2022 2,723,645 $ 6.30 $ 16.80 $ 9.46 2.6 Expired (67,349 ) 8.10 9.00 — — Balance at March 31, 2022 2,656,296 $ 6.30 $ 16.80 $ 9.49 2.4 Exercisable at March 31, 2022 2,656,296 $ 6.30 $ 16.80 $ 9.49 2.4 |
Note 5 - Equity (Tables)
Note 5 - Equity (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed, Amount [Table Text Block] | Three Months Ended March 31, 2022 2021 General and administrative $ 361 $ 309 Research and development 166 96 Total stock-based compensation expense $ 527 $ 405 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended March 31, 2022 2021 Lease cost: Operating lease cost $ 29 $ 29 Variable lease cost 7 7 Total $ 36 $ 36 |
Note 1 - Nature of Business (De
Note 1 - Nature of Business (Details Textual) | Mar. 31, 2022 |
Number of Core Drug Technologies | 3 |
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, 2022USD ($)shares | Mar. 31, 2021USD ($)shares | Dec. 31, 2021USD ($) |
Net Income (Loss) Attributable to Parent, Total | $ (6,867) | $ (4,445) | ||
Net Cash Provided by (Used in) Operating Activities, Total | (4,805) | $ (3,624) | ||
Retained Earnings (Accumulated Deficit), Total | (79,677) | $ (72,810) | ||
Cash and Cash Equivalents, at Carrying Value, Total | $ 66,104 | $ 70,903 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 4.8 | 3.8 | ||
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 - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Vendor prepayments and deposits | $ 557 | $ 486 |
Prepaid sponsored research | 329 | 474 |
Prepaid insurance | 243 | 589 |
Related party receivables | 22 | 22 |
Non-trade receivables | 5 | 23 |
Total prepaid expenses and other current assets | $ 1,156 | $ 1,594 |
Note 2 - Basis of Presentatio_5
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, 2022 | Dec. 31, 2021 | |
Warrant Liability [Member] | ||
Balance | $ 1,412 | |
Change in fair value - net | (160) | |
Balance | 1,252 | |
Warrant Liability Long Term [Member] | ||
Balance | 1,412 | |
Change in fair value - net | (160) | |
Balance | 1,252 | |
Fair Value, Recurring [Member] | Warrant Liability [Member] | ||
Fair value of warrant liability | 1,252 | $ 1,412 |
Fair Value, Recurring [Member] | Warrant Liability [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value of warrant liability | 0 | 0 |
Fair Value, Recurring [Member] | Warrant Liability [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value of warrant liability | 0 | 0 |
Fair Value, Recurring [Member] | Warrant Liability [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value of warrant liability | $ 1,252 | $ 1,412 |
Note 3 - Accrued Expenses and_3
Note 3 - Accrued Expenses and Other Current Liabilities (Details Textual) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Accounts Payable, Related Parties, Current | $ 21,000 | $ 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, 2022 | Dec. 31, 2021 |
Accrued research and development | $ 1,035 | $ 1,005 |
Accrued payroll and bonuses | 869 | 606 |
Accrued legal, regulatory, professional and other | 505 | 442 |
Accrued liabilities due to related party | 124 | 109 |
Total accrued expenses and other current liabilities | 2,610 | 2,258 |
Accounts Payable and Accrued Liabilities [Member] | ||
Operating lease liability - current | $ 77 | $ 96 |
Note 4 - Warrants (Details Text
Note 4 - Warrants (Details Textual) - USD ($) | 3 Months Ended | ||||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | Aug. 31, 2021 | Apr. 30, 2021 | |
Share-Based Payment Arrangement, Expense | $ 527,000 | $ 405,000 | |||
Equity Classified Warrants [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 396,502 | 396,502 | 250,000 | 71,500 | |
Warrants and Rights Outstanding, Term (Year) | 10 years | 5 years | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.08 | $ 3.63 | |||
Class of Warrant or Right, Vested and Exercisable (in shares) | 190,135 | 186,560 | |||
Share-Based Payment Arrangement, Expense | $ 83,000 | $ 0 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 465,000 |
Note 4 - Warrants - Assumptions
Note 4 - Warrants - Assumptions Used (Details) | Mar. 31, 2022 | Dec. 31, 2021 |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, assumptions | 0.015 | 0.001 |
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants, assumptions | 0.500 | 0.718 |
Minimum [Member] | Measurement Input, Expected Term [Member] | ||
Warrants, assumptions | 0.9 | 0.1 |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, assumptions | 0.024 | 0.011 |
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants, assumptions | 1.122 | 1.145 |
Maximum [Member] | Measurement Input, Expected Term [Member] | ||
Warrants, assumptions | 3.4 | 3.6 |
Note 4 - Warrants - Warrant Act
Note 4 - Warrants - Warrant Activity (Details) - Liability Classified Warrants [Member] - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Balance (in shares) | 2,723,645 | |
Balance, weighted average remaining contractual life (Year) | 2 years 4 months 24 days | 2 years 7 months 6 days |
Expired, number of shares under warrants (in shares) | (67,349) | |
Balance (in shares) | 2,656,296 | 2,723,645 |
Exercisable (in shares) | 2,656,296 | |
Exercisable, weighted average remaining contractual life (Year) | 2 years 4 months 24 days | |
Minimum [Member] | ||
Balance, warrant exercise price (in dollars per share) | $ 6.30 | |
Expired, warrant exercise price (in dollars per share) | 8.10 | |
Balance, warrant exercise price (in dollars per share) | 6.30 | $ 6.30 |
Exercisable, warrant exercise price (in dollars per share) | 6.30 | |
Maximum [Member] | ||
Balance, warrant exercise price (in dollars per share) | 16.80 | |
Expired, warrant exercise price (in dollars per share) | 9 | |
Balance, warrant exercise price (in dollars per share) | 16.80 | 16.80 |
Exercisable, warrant exercise price (in dollars per share) | 16.80 | |
Weighted Average [Member] | ||
Balance, warrant exercise price (in dollars per share) | 9.46 | |
Expired, warrant exercise price (in dollars per share) | 0 | |
Balance, warrant exercise price (in dollars per share) | 9.49 | $ 9.46 |
Exercisable, warrant exercise price (in dollars per share) | $ 9.49 |
Note 5 - Equity (Details Textua
Note 5 - Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | ||
Feb. 28, 2021 | Jan. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Stock Issued During Period, Shares, New Issues (in shares) | 0 | |||
Proceeds from Issuance of Common Stock | $ 0 | $ 74,685 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 21,667 | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 1.61 | |||
Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||
Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||
The 2015 Stock Plan [Member] | ||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 19,961 | |||
Underwritten Public 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 | |||
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 |
Note 5 - Equity - Stock based C
Note 5 - Equity - Stock based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Stock-based compensation expense | $ 527 | $ 405 |
General and Administrative Expense [Member] | ||
Stock-based compensation expense | 361 | 309 |
Research and Development Expense [Member] | ||
Stock-based compensation expense | $ 166 | $ 96 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) Pure in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 |
Effective Income Tax Rate Reconciliation, Percent, Total | 0.00% | 0.00% |
Note 7 - Commitments and Cont_3
Note 7 - Commitments and Contingencies (Details Textual) | Mar. 16, 2020USD ($) | Feb. 28, 2022USD ($) | Jul. 31, 2021USD ($) | Mar. 31, 2022USD ($) | Mar. 31, 2021USD ($) |
Sublease Income | $ 10,000 | $ 10,000 | |||
Operating Lease, Payments | 35,000 | 34,000 | |||
Research and Development Expense, Total | 4,620,000 | 4,105,000 | |||
Houston Pharmaceuticals, Inc [Member] | |||||
Related Party Transaction, Expenses from Transactions with Related Party | 59,000 | 59,000 | |||
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 | ||||
MD Anderson [Member] | |||||
License Agreements Expense | 76,000 | 38,000 | |||
Payments For Research And Development Agreement | $ 175,000 | ||||
Research and Development Expense, Total | 187,000 | 94,000 | |||
Dermin [Member] | |||||
Payments for Termination of Commitment | $ 400,000 | ||||
License Terminations Expense | $ 400,000 | $ 0 |
Note 7 - Commitments and Cont_4
Note 7 - Commitments and Contingencies - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Operating lease cost | $ 29 | $ 29 |
Variable lease cost | 7 | 7 |
Total | $ 36 | $ 36 |
Note 8 - Subsequent Events (Det
Note 8 - Subsequent Events (Details Textual) | Apr. 30, 2022shares |
Subsequent Event [Member] | Chief Medical Officer [Member] | |
Stock Issuance Agreement, Number of Shares Issuable (in shares) | 45,000 |