Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 28, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001738021 | |
Entity Registrant Name | Compass Therapeutics, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-39696 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 82-4876496 | |
Entity Address, Address Line One | 80 Guest St., Suite 601 | |
Entity Address, City or Town | Boston | |
Entity Address, State or Province | MA | |
Entity Address, Postal Zip Code | 02135 | |
City Area Code | 617 | |
Local Phone Number | 500-8099 | |
Title of 12(b) Security | Common Stock, $0.0001 par value per share | |
Trading Symbol | CMPX | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 127,459,346 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 19,278 | $ 34,946 |
Marketable securities | 149,474 | 151,663 |
Prepaid expenses and other current assets | 6,520 | 8,182 |
Total current assets | 175,272 | 194,791 |
Property and equipment, net | 1,204 | 1,567 |
Operating lease, right-of-use ("ROU") asset | 2,385 | 2,967 |
Other assets | 320 | 320 |
Total assets | 179,181 | 199,645 |
Current liabilities: | ||
Accounts payable | 724 | 3,382 |
Accrued expenses | 7,827 | 11,690 |
Operating lease obligations, current portion | 1,147 | 1,097 |
Total current liabilities | 9,698 | 16,169 |
Operating lease obligations, long-term portion | 1,197 | 1,838 |
Total liabilities | 10,895 | 18,007 |
Commitments and contingencies (Note 7) | ||
Stockholders' equity: | ||
Common stock, $0.0001 par value: 300,000 shares authorized; 127,459 and 126,495 shares issued at June 30, 2023 and December 31, 2022, respectively; 127,388 and 126,302 shares outstanding at June 30, 2023 and December 31, 2022, respectively | 13 | 13 |
Additional paid-in-capital | 460,709 | 454,741 |
Accumulated other comprehensive loss | (507) | (302) |
Accumulated deficit | (291,929) | (272,814) |
Total stockholders' equity | 168,286 | 181,638 |
Total liabilities and stockholders' equity | $ 179,181 | $ 199,645 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 300,000 | 300,000 |
Common stock, shares issued (in shares) | 127,459 | 126,495 |
Common stock, shares outstanding (in shares) | 127,388 | 126,302 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Operating expenses: | ||||
Research and development | $ 10,223 | $ 5,862 | $ 16,862 | $ 10,278 |
General and administrative | 3,114 | 3,125 | 6,183 | 5,891 |
Total operating expenses | 13,337 | 8,987 | 23,045 | 16,169 |
Loss from operations | (13,337) | (8,987) | (23,045) | (16,169) |
Other income | 2,059 | 493 | 3,930 | 513 |
Loss before income tax expense | (11,278) | (8,494) | (19,115) | (15,656) |
Income tax expense | 0 | 0 | 0 | 0 |
Net loss | $ (11,278) | $ (8,494) | $ (19,115) | $ (15,656) |
Net loss per share - basic and diluted (in dollars per share) | $ (0.09) | $ (0.08) | $ (0.15) | $ (0.16) |
Basic and diluted weighted average shares outstanding (in shares) | 126,729 | 100,947 | 126,539 | 100,903 |
Other comprehensive loss: | ||||
Net loss | $ (11,278) | $ (8,494) | $ (19,115) | $ (15,656) |
Unrealized loss on marketable securities | (361) | (512) | (205) | (512) |
Comprehensive loss | $ (11,639) | $ (9,006) | $ (19,320) | $ (16,168) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 100,832 | ||||
Balance at Dec. 31, 2021 | $ 10 | $ 373,657 | $ 0 | $ (233,589) | $ 140,078 |
Vesting of share-based awards (in shares) | 73 | ||||
Vesting of share-based awards | $ 0 | 0 | 0 | 0 | 0 |
Stock-based compensation | 0 | 1,574 | 0 | 0 | 1,574 |
Net loss | $ 0 | 0 | 0 | (7,162) | (7,162) |
Balance (in shares) at Mar. 31, 2022 | 100,905 | ||||
Balance at Mar. 31, 2022 | $ 10 | 375,231 | 0 | (240,751) | 134,490 |
Balance (in shares) at Dec. 31, 2021 | 100,832 | ||||
Balance at Dec. 31, 2021 | $ 10 | 373,657 | 0 | (233,589) | 140,078 |
Unrealized loss on marketable securities | (512) | ||||
Net loss | (15,656) | ||||
Balance (in shares) at Jun. 30, 2022 | 100,968 | ||||
Balance at Jun. 30, 2022 | $ 10 | 376,675 | (512) | (249,245) | 126,928 |
Balance (in shares) at Mar. 31, 2022 | 100,905 | ||||
Balance at Mar. 31, 2022 | $ 10 | 375,231 | 0 | (240,751) | 134,490 |
Vesting of share-based awards (in shares) | 63 | ||||
Vesting of share-based awards | $ 0 | 0 | 0 | 0 | 0 |
Stock-based compensation | 0 | 1,444 | 0 | 0 | 1,444 |
Unrealized loss on marketable securities | 0 | 0 | (512) | 0 | (512) |
Net loss | $ 0 | 0 | 0 | (8,494) | (8,494) |
Balance (in shares) at Jun. 30, 2022 | 100,968 | ||||
Balance at Jun. 30, 2022 | $ 10 | 376,675 | (512) | (249,245) | 126,928 |
Balance (in shares) at Dec. 31, 2022 | 126,302 | ||||
Balance at Dec. 31, 2022 | $ 13 | 454,741 | (302) | (272,814) | 181,638 |
Vesting of share-based awards (in shares) | 61 | ||||
Vesting of share-based awards | $ 0 | 0 | 0 | 0 | 0 |
Stock-based compensation | $ 0 | 1,267 | 0 | 0 | 1,267 |
Common stock issued upon exercise of options (in shares) | 12 | ||||
Common stock issued upon exercise of options | $ 0 | 41 | 0 | 0 | 41 |
Unrealized loss on marketable securities | 0 | 0 | 156 | 0 | 156 |
Net loss | $ 0 | 0 | 0 | (7,837) | (7,837) |
Balance (in shares) at Mar. 31, 2023 | 126,375 | ||||
Balance at Mar. 31, 2023 | $ 13 | 456,049 | (146) | (280,651) | 175,265 |
Balance (in shares) at Dec. 31, 2022 | 126,302 | ||||
Balance at Dec. 31, 2022 | $ 13 | 454,741 | (302) | (272,814) | $ 181,638 |
Common stock issued upon exercise of options (in shares) | 12 | ||||
Unrealized loss on marketable securities | $ (205) | ||||
Net loss | (19,115) | ||||
Balance (in shares) at Jun. 30, 2023 | 127,388 | ||||
Balance at Jun. 30, 2023 | $ 13 | 460,709 | (507) | (291,929) | 168,286 |
Balance (in shares) at Mar. 31, 2023 | 126,375 | ||||
Balance at Mar. 31, 2023 | $ 13 | 456,049 | (146) | (280,651) | 175,265 |
Vesting of share-based awards (in shares) | 61 | ||||
Vesting of share-based awards | $ 0 | 0 | 0 | 0 | 0 |
Stock-based compensation | 0 | 1,628 | 0 | 0 | 1,628 |
Unrealized loss on marketable securities | 0 | 0 | (361) | 0 | (361) |
Net loss | $ 0 | 0 | 0 | (11,278) | (11,278) |
Common shares issued, net of issuance costs of $0.1 million (in shares) | 952 | ||||
Common shares issued, net of issuance costs of $0.1 million | $ 0 | 3,032 | 0 | 0 | 3,032 |
Balance (in shares) at Jun. 30, 2023 | 127,388 | ||||
Balance at Jun. 30, 2023 | $ 13 | $ 460,709 | $ (507) | $ (291,929) | $ 168,286 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) $ in Millions | 3 Months Ended |
Jun. 30, 2023 USD ($) | |
Stock issuance costs | $ 0.1 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (19,115) | $ (15,656) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 374 | 385 |
Stock-based compensation | 2,895 | 3,018 |
Amortization of premium and discount on marketable securities | (1,628) | 110 |
ROU asset amortization | 582 | 548 |
Gain on disposal of equipment | 0 | (70) |
Changes in operating assets and liabilities: | ||
Prepaid expenses and other current assets | 1,662 | 64 |
Accounts payable | (2,658) | 5,588 |
Accrued expenses | (3,863) | (5,987) |
Operating lease liability | (591) | (542) |
Net cash used in operating activities | (22,342) | (12,542) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (11) | (131) |
Purchases of marketable securities | (92,964) | (105,779) |
Proceeds from sale or maturities of marketable securities | 96,577 | 0 |
Proceeds from sale of equipment | 0 | 176 |
Net cash provided by (used in) investing activities | 3,602 | (105,734) |
Cash flows from financing activities: | ||
Proceeds from exercise of stock options | 41 | 0 |
Proceeds from issuance of common stock | (3,126) | 0 |
Issuance costs from issuance of common stock | (95) | 0 |
Net cash provided by financing activities | 3,072 | 0 |
Net change in cash and cash equivalents | (15,668) | (118,276) |
Cash and cash equivalents at beginning of period | 34,946 | 144,514 |
Cash and cash equivalents at end of period | 19,278 | 26,238 |
Supplemental disclosure of cash flow information | ||
Unrealized loss on marketable securities | (205) | (512) |
Purchase of securities included in accrued expenses | 0 | 513 |
Fixed asset costs included in accounts payable | $ 0 | $ 77 |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. Compass Therapeutics, Inc. (“Compass” or the “Company”) is a clinical-stage, oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics to treat multiple human diseases. Our scientific focus is on the relationship between angiogenesis and the immune system. Our pipeline includes novel product candidates that leverage our understanding of the tumor microenvironment, including both angiogenesis-targeted agents and immune-oncology focused agents. These product candidates are designed to optimize critical components required for an effective anti-tumor response to cancer. These include modulation of the microvasculature via angiogenesis-targeted agents; induction of a potent immune response via activators on effector cells in the tumor microenvironment; and alleviation of immunosuppressive mechanisms used by tumors to evade immune surveillance. We plan to advance our product candidates through clinical development as both standalone therapies and in combination with our proprietary product candidates as long as their continued development is supported by clinical and nonclinical data. References to Compass or the Company herein include Compass Therapeutics, Inc. and its wholly-owned subsidiaries. The Company was incorporated as Olivia Ventures, Inc. (“Olivia”) in the State of Delaware on March 20, 2018. 12b 2 1934, The Company is subject to risks and uncertainties common to companies in the biotechnology and pharmaceutical industries. There can be no In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the financial statements) considered necessary to present fairly the Company’s consolidated financial position as of June 30, 2023 three six June 30, 2023 2022 six June 30, 2023 2022. three six June 30, 2023 not may December 31, 2023. The unaudited condensed consolidated financial statements include the accounts of Compass Therapeutics, Inc. and its subsidiaries, and have been prepared by the Company in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet at December 31, 2022 ved from the audited consolidated financial statements at that date but does not Annual Report on Form 10 December 31, 2022 (the “Annual Report”). Liquidity Since our inception, we have devoted substantially all of our efforts to organizing and staffing our Company, business planning, raising capital, research and development activities, building our intellectual property portfolio and providing general and administrative support for these operations. We have funded our operations with proceeds from the sale of our equity securities and borrowing from debt arrangements. Through June 30, 2023, June 30, 2023, 2026. COVID- 19 We have been monitoring the COVID- 19 may 19 may 19 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. There have been no |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 3. The following tables represent the Company’s financial assets that are measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands): Fair Value Measurements as of June 30, 2023 Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Assets Corporate bonds $ — $ 48,645 $ — $ 48,645 Commercial paper 50,594 — — 50,594 Certificates of deposit — 26,483 — 26,483 U.S. government treasuries 14,778 — — 14,778 Asset-backed securities — 8,974 — 8,974 Cash equivalents 774 — — 774 Total assets $ 66,146 $ 84,102 $ — $ 150,248 Fair Value Measurements as of December 31, 2022 Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Assets Corporate bonds $ — $ 87,760 $ — $ 87,760 Commercial paper 37,682 — — 37,682 Certificates of deposit — 19,667 — 19,667 Asset-backed securities — 6,554 — 6,554 Cash equivalents 9,438 — — 9,438 Total assets $ 47,120 $ 113,981 $ — $ 161,101 |
Note 4 - Marketable Securities
Note 4 - Marketable Securities | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. The objectives of the Company’s investment policy are to ensure the safety and preservation of invested funds, as well as to maintain liquidity sufficient to meet cash flow requirements. The Company invests its excess cash in securities issued by financial institutions, commercial companies, and government agencies that management believes to be of high credit quality in order to limit the amount of its credit exposure. The Company has not Unrealized gains and losses on investments that are available for sale are recognized in accumulated other comprehensive loss, unless an unrealized loss is considered to be other than temporary, in which case the unrealized loss is charged to operations. The Company periodically reviews its investments for other than temporary declines in fair value below cost basis and whenever events or changes in circumstances indicate that the carrying amount of an asset may not The Company believes the individual unrealized losses represent temporary declines primarily resulting from interest rate changes. Realized gains and losses are included in other income in the condensed consolidated statements of operations and comprehensive loss and are determined using the specific identification method with transactions recorded on a trade date basis. The Company classifies marketable securities that are available for use in current operations as current assets on the condensed consolidated balance sheet. The following tables summarize marketable securities held (in thousands): As of June 30, 2023 Amortized Cost Unrealized gains Unrealized Losses Fair Value Assets Corporate bonds $ 48,885 $ 10 $ (250 ) $ 48,645 Commercial paper 50,637 — (43 ) 50,594 Certificates of deposit 26,515 2 (34 ) 26,483 U.S. government treasuries 14,932 — (154 ) 14,778 Asset-backed securities 9,012 — (38 ) 8,974 Total assets $ 149,981 $ 12 $ (519 ) $ 149,474 As of December 31, 2022 Amortized Cost Unrealized gains Unrealized Losses Fair Value Assets Corporate bonds $ 87,998 $ 12 $ (250 ) $ 87,760 Commercial paper 37,680 33 (31 ) 37,682 Certificates of deposit 19,689 16 (38 ) 19,667 Asset-backed securities 6,598 3 (47 ) 6,554 Total assets $ 151,965 $ 64 $ (366 ) $ 151,663 As of June 30, 2023 December 31, 2022 Maturing in one year or less $ 112,377 $ 134,620 Maturing after one year through two years 37,097 17,043 Total $ 149,474 $ 151,663 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5. Property and equipment consist of the following (in thousands): June 30, 2023 December 31, 2022 Equipment $ 5,148 $ 5,137 Leasehold improvements 1,612 1,612 Software 364 364 Furniture and fixtures 22 22 Total property and equipment–at cost 7,146 7,135 Less: Accumulated depreciation (5,942 ) (5,568 ) Property and equipment, net $ 1,204 $ 1,567 Depreciation and amortization expense for the six June 30, 2023 2022 |
Note 6 - Accrued Expenses
Note 6 - Accrued Expenses | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 6. Accrued expenses consist of the following (in thousands): June 30, December 31, 2023 2022 Project expenses $ 6,583 $ 10,038 Compensation and benefits 989 1,556 Other 255 96 Total accrued expenses $ 7,827 $ 11,690 Project expenses are primarily from $6.5 million of accrued manufacturing expenses. These expenses are mostly for the manufacture and purchase of drug product for CTX- 009 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 7. Leases The Company has evaluated its leases under ASC 842, Leases one When available, the Company will use the rate implicit in the lease to discount lease payments to present value; however, the Company’s current lease does not The Company has one December 2020. January 2021. four five January 1, 2021. one eleven June 30, 2023. three June 30, 2023 2022 six June 30, 2023 2022. The table below presents the undiscounted cash flows for the lease term. The undiscounted cash flows are reconciled to the operating lease liabilities recorded on the condensed consolidated balance sheet (in thousands): Remainder of 2023 $ 561 Years ending December 31, 2024 1,379 2025 543 Total minimum lease payments 2,483 Less: amount of lease payments representing interest (139 ) Present value of future minimum lease payments 2,344 Less: operating lease obligations, current portion (1,147 ) Operating lease obligations, long-term portion $ 1,197 Milestone payments As part of the ABL Bio Agreement, the Company is obligated to pay certain development milestone payments. See Note 11 |
Note 8 - Stock-based Compensati
Note 8 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 8. Stock-based compensation expense for the three six June 30, 2023 2022 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Research and development $ 146 $ 174 $ 229 $ 548 General and administrative 1,482 1,270 2,666 2,470 Total $ 1,628 $ 1,444 $ 2,895 $ 3,018 As of June 30, 2023, Restricted Stock: Prior to the adoption of the 2020 three six June 30, 2023 Shares Fair Value Weighted Average Fair Value (In thousands) Per Share Unvested, December 31, 2022 193 $ 1.74 Granted — $ — Vested (122 ) $ 1.71 Forfeited or canceled — $ — Unvested, June 30, 2023 72 $ 1.79 As of June 30, 2023, 2020 In June 2020, 2020 “2020 2020 January 1, 2023 June 30, 2023, The 2020 four ten Stock Options: The following table summarizes the stock option activity for the 2020 Weighted Weighted Number of Average Average Aggregate Unvested Exercise Remaining Intrinsic Options Price Contractual Value (In thousands) Per Share Term (In years) (In thousands) Outstanding at December 31, 2022 5,378 $ 3.89 8.24 $ 6,316 Granted 2,613 $ 3.80 9.64 Exercised (12 ) $ 2.43 Forfeited/canceled (228 ) $ 4.75 Outstanding at June 30, 2023 7,751 $ 3.84 8.51 $ 1,814 Vested at June 30, 2023 3,233 $ 4.34 7.75 $ 569 For the six June 30, 2023, June 30, 2023, June 30, 2023, For the six June 30, 2022, June 30, 2022, The weighted average assumptions used in the Black-Scholes pricing model to determine the fair value of stock options granted during the six June 30, 2023 2022 Six Months Ended June 30, 2023 2022 Expected term (in years) 6.0 5.8 Risk-free rate 3.8 % 1.9 % Expected volatility 88 % 90 % Expected dividend yield — — As of January 2023, RSUs: The following table summarizes the RSU activity for the 2020 Shares (In thousands) Weighted Average Price Per Share Weighted Average Fair Value (In thousands) Unvested, December 31, 2022 900 $ 3.83 $ 3,447 Granted 900 3.93 3,537 Vested — — — Forfeited or canceled — — — Unvested, June 30, 2023 1,800 $ 3.88 $ 6,984 The weighted average price per share is the weighted grant price based on the closing market price of each of the stock grants. The weighted average fair value is the weighted average share price times the number of shares. June 30, 2023, |
Note 9 - Related Parties and Re
Note 9 - Related Parties and Related-party Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 9. Related Parties and Related-Party Transactions There were no six June 30, 2023 2022. |
Note 10 - Other Income
Note 10 - Other Income | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Other Nonoperating Income and Expense [Text Block] | 10. The following table summarizes other income (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Interest income $ 2,059 $ 424 $ 3,930 $ 443 Realized gain on disposal of equipment — 69 — 70 Total other income $ 2,059 $ 493 $ 3,930 $ 513 |
Note 11 - License, Research and
Note 11 - License, Research and Collaboration Agreements | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Collaborative Arrangement Disclosure [Text Block] | 11. Collaboration Agreements ABL Bio Corporation ("ABL Bio") Agreement In November 2018, 009 ABL001 DLL4 two 009, 009 1 009 2 009 009 In May 2021, two Adimab Agreement The Company entered into a collaboration agreement with Adimab, LLC on October 16, 2014. first 471. 2023. June 30, 2023, |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 12. Equity Through June 2023, |
Note 3 - Fair Value Measureme_2
Note 3 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements as of June 30, 2023 Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Assets Corporate bonds $ — $ 48,645 $ — $ 48,645 Commercial paper 50,594 — — 50,594 Certificates of deposit — 26,483 — 26,483 U.S. government treasuries 14,778 — — 14,778 Asset-backed securities — 8,974 — 8,974 Cash equivalents 774 — — 774 Total assets $ 66,146 $ 84,102 $ — $ 150,248 Fair Value Measurements as of December 31, 2022 Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Assets Corporate bonds $ — $ 87,760 $ — $ 87,760 Commercial paper 37,682 — — 37,682 Certificates of deposit — 19,667 — 19,667 Asset-backed securities — 6,554 — 6,554 Cash equivalents 9,438 — — 9,438 Total assets $ 47,120 $ 113,981 $ — $ 161,101 |
Note 4 - Marketable Securities
Note 4 - Marketable Securities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Marketable Securities [Table Text Block] | As of June 30, 2023 Amortized Cost Unrealized gains Unrealized Losses Fair Value Assets Corporate bonds $ 48,885 $ 10 $ (250 ) $ 48,645 Commercial paper 50,637 — (43 ) 50,594 Certificates of deposit 26,515 2 (34 ) 26,483 U.S. government treasuries 14,932 — (154 ) 14,778 Asset-backed securities 9,012 — (38 ) 8,974 Total assets $ 149,981 $ 12 $ (519 ) $ 149,474 As of December 31, 2022 Amortized Cost Unrealized gains Unrealized Losses Fair Value Assets Corporate bonds $ 87,998 $ 12 $ (250 ) $ 87,760 Commercial paper 37,680 33 (31 ) 37,682 Certificates of deposit 19,689 16 (38 ) 19,667 Asset-backed securities 6,598 3 (47 ) 6,554 Total assets $ 151,965 $ 64 $ (366 ) $ 151,663 |
Investments Classified by Contractual Maturity Date [Table Text Block] | As of June 30, 2023 December 31, 2022 Maturing in one year or less $ 112,377 $ 134,620 Maturing after one year through two years 37,097 17,043 Total $ 149,474 $ 151,663 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2023 December 31, 2022 Equipment $ 5,148 $ 5,137 Leasehold improvements 1,612 1,612 Software 364 364 Furniture and fixtures 22 22 Total property and equipment–at cost 7,146 7,135 Less: Accumulated depreciation (5,942 ) (5,568 ) Property and equipment, net $ 1,204 $ 1,567 |
Note 6 - Accrued Expenses (Tabl
Note 6 - Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, December 31, 2023 2022 Project expenses $ 6,583 $ 10,038 Compensation and benefits 989 1,556 Other 255 96 Total accrued expenses $ 7,827 $ 11,690 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Remainder of 2023 $ 561 Years ending December 31, 2024 1,379 2025 543 Total minimum lease payments 2,483 Less: amount of lease payments representing interest (139 ) Present value of future minimum lease payments 2,344 Less: operating lease obligations, current portion (1,147 ) Operating lease obligations, long-term portion $ 1,197 |
Note 8 - Stock-based Compensa_2
Note 8 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Research and development $ 146 $ 174 $ 229 $ 548 General and administrative 1,482 1,270 2,666 2,470 Total $ 1,628 $ 1,444 $ 2,895 $ 3,018 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Shares Fair Value Weighted Average Fair Value (In thousands) Per Share Unvested, December 31, 2022 193 $ 1.74 Granted — $ — Vested (122 ) $ 1.71 Forfeited or canceled — $ — Unvested, June 30, 2023 72 $ 1.79 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Number of Average Average Aggregate Unvested Exercise Remaining Intrinsic Options Price Contractual Value (In thousands) Per Share Term (In years) (In thousands) Outstanding at December 31, 2022 5,378 $ 3.89 8.24 $ 6,316 Granted 2,613 $ 3.80 9.64 Exercised (12 ) $ 2.43 Forfeited/canceled (228 ) $ 4.75 Outstanding at June 30, 2023 7,751 $ 3.84 8.51 $ 1,814 Vested at June 30, 2023 3,233 $ 4.34 7.75 $ 569 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Six Months Ended June 30, 2023 2022 Expected term (in years) 6.0 5.8 Risk-free rate 3.8 % 1.9 % Expected volatility 88 % 90 % Expected dividend yield — — |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Shares (In thousands) Weighted Average Price Per Share Weighted Average Fair Value (In thousands) Unvested, December 31, 2022 900 $ 3.83 $ 3,447 Granted 900 3.93 3,537 Vested — — — Forfeited or canceled — — — Unvested, June 30, 2023 1,800 $ 3.88 $ 6,984 |
Note 10 - Other Income (Tables)
Note 10 - Other Income (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Interest income $ 2,059 $ 424 $ 3,930 $ 443 Realized gain on disposal of equipment — 69 — 70 Total other income $ 2,059 $ 493 $ 3,930 $ 513 |
Note 1 - Nature of Business a_2
Note 1 - Nature of Business and Basis of Presentation (Details Textual) $ in Millions | 51 Months Ended |
Jun. 30, 2022 USD ($) | |
Proceeds from Issuance or Sale of Equity | $ 412 |
Cash and Marketable Securities | $ 169 |
Note 3 - Fair Value Measureme_3
Note 3 - Fair Value Measurements - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Marketable Securities | $ 149,474 | $ 151,663 |
Corporate Debt Securities [Member] | ||
Marketable Securities | 48,645 | 87,760 |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Marketable Securities | 50,594 | 37,682 |
Certificates of Deposit [Member] | ||
Marketable Securities | 26,483 | 19,667 |
US Treasury Securities [Member] | ||
Marketable Securities | 14,778 | |
Asset-Backed Securities [Member] | ||
Marketable Securities | 8,974 | 6,554 |
Fair Value, Recurring [Member] | ||
Total assets | 150,248 | 161,101 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Marketable Securities | 48,645 | 87,760 |
Fair Value, Recurring [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Marketable Securities | 50,594 | 37,682 |
Fair Value, Recurring [Member] | Certificates of Deposit [Member] | ||
Marketable Securities | 26,483 | 19,667 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Marketable Securities | 14,778 | |
Fair Value, Recurring [Member] | Asset-Backed Securities [Member] | ||
Marketable Securities | 8,974 | 6,554 |
Fair Value, Recurring [Member] | Cash and Cash Equivalents [Member] | ||
Marketable Securities | 774 | 9,438 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total assets | 66,146 | 47,120 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Marketable Securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Marketable Securities | 50,594 | 37,682 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member] | ||
Marketable Securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | ||
Marketable Securities | 14,778 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-Backed Securities [Member] | ||
Marketable Securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member] | ||
Marketable Securities | 774 | 9,438 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total assets | 84,102 | 113,981 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Marketable Securities | 48,645 | 87,760 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Marketable Securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member] | ||
Marketable Securities | 26,483 | 19,667 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | ||
Marketable Securities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-Backed Securities [Member] | ||
Marketable Securities | 8,974 | 6,554 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member] | ||
Marketable Securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total assets | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Marketable Securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Marketable Securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member] | ||
Marketable Securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member] | ||
Marketable Securities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-Backed Securities [Member] | ||
Marketable Securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Cash and Cash Equivalents [Member] | ||
Marketable Securities | $ 0 | $ 0 |
Note 4 - Marketable Securitie_2
Note 4 - Marketable Securities - Marketable Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Amortized Cost | $ 149,981 | $ 151,965 |
Unrealized Gains | 12 | 64 |
Unrealized Losses | (519) | (366) |
Marketable Securities | 149,474 | 151,663 |
Corporate Debt Securities [Member] | ||
Amortized Cost | 48,885 | 87,998 |
Unrealized Gains | 10 | 12 |
Unrealized Losses | (250) | (250) |
Marketable Securities | 48,645 | 87,760 |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Amortized Cost | 50,637 | 37,680 |
Unrealized Gains | 0 | 33 |
Unrealized Losses | (43) | (31) |
Marketable Securities | 50,594 | 37,682 |
Certificates of Deposit [Member] | ||
Amortized Cost | 26,515 | 19,689 |
Unrealized Gains | 2 | 16 |
Unrealized Losses | (34) | (38) |
Marketable Securities | 26,483 | 19,667 |
US Treasury Securities [Member] | ||
Amortized Cost | 14,932 | |
Unrealized Gains | 0 | |
Unrealized Losses | (154) | |
Marketable Securities | 14,778 | |
Asset-Backed Securities [Member] | ||
Amortized Cost | 9,012 | 6,598 |
Unrealized Gains | 0 | 3 |
Unrealized Losses | (38) | (47) |
Marketable Securities | $ 8,974 | $ 6,554 |
Note 4 - Marketable Securitie_3
Note 4 - Marketable Securities - Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Maturing in one year or less | $ 112,377 | $ 134,620 |
Maturing after one year through two years | 37,097 | 17,043 |
Total | $ 149,474 | $ 151,663 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Depreciation | $ 0.4 | $ 0.4 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Total property and equipment–at cost | $ 7,146 | $ 7,135 |
Less: Accumulated depreciation | (5,942) | (5,568) |
Property and equipment, net | 1,204 | 1,567 |
Equipment [Member] | ||
Total property and equipment–at cost | 5,148 | 5,137 |
Leasehold Improvements [Member] | ||
Total property and equipment–at cost | 1,612 | 1,612 |
Software Development [Member] | ||
Total property and equipment–at cost | 364 | 364 |
Furniture and Fixtures [Member] | ||
Total property and equipment–at cost | $ 22 | $ 22 |
Note 6 - Accrued Expenses (Deta
Note 6 - Accrued Expenses (Details Textual) $ in Millions | Jun. 30, 2023 USD ($) |
Accrued Manufacturing Expenses | $ 6.5 |
Manufacture and Purchase of CTX-009 [Member] | |
Contractual Obligation | $ 5.3 |
Note 6 - Accrued Expenses - Sch
Note 6 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Project expenses | $ 6,583 | $ 10,038 |
Compensation and benefits | 989 | 1,556 |
Other | 255 | 96 |
Total accrued expenses | $ 7,827 | $ 11,690 |
Note 7 - Commitments and Cont_3
Note 7 - Commitments and Contingencies (Details Textual) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Dec. 31, 2022 | Dec. 31, 2020 | |
Number of Operating Leases | 1 | |||||
Lessee, Operating Lease, Term of Contract (Year) | 4 years 5 months 1 day | |||||
Lessee, Operating Lease, Discount Rate | 6.25% | |||||
Lessee, Operating Lease, Remaining Lease Term (Year) | 1 year 11 months 1 day | 1 year 11 months 1 day | ||||
Operating Lease, Payments | $ 0.3 | $ 0.3 | $ 0.7 | $ 0.7 |
Note 7 - Commitments and Cont_4
Note 7 - Commitments and Contingencies - Undiscounted Cash Flows Reconciled to Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Remainder of 2023 | $ 561 | |
2024 | 1,379 | |
2025 | 543 | |
Total minimum lease payments | 2,483 | |
Less: amount of lease payments representing interest | (139) | |
Present value of future minimum lease payments | 2,344 | |
Less: operating lease obligations, current portion | (1,147) | $ (1,097) |
Operating lease obligations, long-term portion | $ 1,197 | $ 1,838 |
Note 8 - Stock-based Compensa_3
Note 8 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions | 6 Months Ended | |||
Jan. 01, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2020 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 17,400 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 2.85 | $ 2.29 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 569 | $ 47 | ||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 11,300 | |||
The 2020 Stock Option and Incentive Plan [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 2.9 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 5.1 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 5.2 | |||
Restricted Stock [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 100 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 6 months | |||
Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years | |||
Share-Based Payment Arrangement, Option [Member] | The 2020 Stock Option and Incentive Plan [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 5,900 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years |
Note 8 - Stock-based Compensa_4
Note 8 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Stock-based compensation expense | $ 1,628 | $ 1,444 | $ 2,895 | $ 3,018 |
Research and Development Expense [Member] | ||||
Stock-based compensation expense | 146 | 174 | 229 | 548 |
General and Administrative Expense [Member] | ||||
Stock-based compensation expense | $ 1,482 | $ 1,270 | $ 2,666 | $ 2,470 |
Note 8 - Stock-based Compensa_5
Note 8 - Stock-based Compensation - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member] shares in Thousands | 6 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Unvested, shares (in shares) | shares | 193 |
Unvested, weighted average price per share (in dollars per share) | $ / shares | $ 1.74 |
Granted, shares (in shares) | shares | 0 |
Granted, weighted average price per share (in dollars per share) | $ / shares | $ 0 |
Vested, shares (in shares) | shares | (122) |
Vested, weighted average price per share (in dollars per share) | $ / shares | $ 1.71 |
Forfeited or canceled, shares (in shares) | shares | 0 |
Forfeited or canceled, weighted average price per share (in dollars per share) | $ / shares | $ 0 |
Unvested, shares (in shares) | shares | 72 |
Unvested, weighted average price per share (in dollars per share) | $ / shares | $ 1.79 |
Note 8 - Stock-based Compensa_6
Note 8 - Stock-based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
Outstanding (in shares) | 5,378 | ||
Outstanding, weighted average exercise price per share (in dollars per share) | $ 3.89 | ||
Outstanding, weighted average remaining contractual term (Year) | 8 years 6 months 3 days | 8 years 2 months 26 days | |
Outstanding, aggregate intrinsic value | $ 1,814 | $ 6,316 | |
Granted (in shares) | 2,613 | ||
Granted, weighted average exercise price per shar (in dollars per share) | $ 3.80 | ||
Granted, weighted average remaining contractual term (Year) | 9 years 7 months 20 days | ||
Exercised (in shares) | (12) | ||
Exercised, weighted average exercise price per shar (in dollars per share) | $ 2.43 | ||
Forfeited/canceled (in shares) | (228) | ||
Forfeited/cancelled, weighted average exercise price per shar (in dollars per share) | $ 4.75 | ||
Outstanding (in shares) | 7,751 | 5,378 | |
Outstanding, weighted average exercise price per share (in dollars per share) | $ 3.84 | $ 3.89 | |
Vested (in shares) | 3,233 | ||
Vested, weighted average exercise price per share (in dollars per share) | $ 4.34 | ||
Vested, weighted average remaining contractual term (Year) | 7 years 9 months | ||
Vested, aggregate intrinsic value | $ 569 | $ 47 |
Note 8 - Stock-based Compensa_7
Note 8 - Stock-based Compensation - Weighted Average Assumptions (Details) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Expected term (in years) (Year) | 6 years | 5 years 9 months 18 days |
Risk-free rate | 3.80% | 1.90% |
Expected volatility | 88% | 90% |
Note 8 - Stock-based Compensa_8
Note 8 - Stock-based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Unvested, shares (in shares) | 900 | |
Unvested, weighted average price per share (in dollars per share) | $ 3.83 | |
Unvested, weighted average fair value | $ 6,984 | $ 3,447 |
Granted, shares (in shares) | 900 | |
Granted, weighted average price per share (in dollars per share) | $ 3.93 | |
Granted, weighted average fair value | $ 3,537 | |
Vested, shares (in shares) | 0 | |
Vested, weighted average price per share (in dollars per share) | $ 0 | |
Forfeited or canceled, shares (in shares) | 0 | |
Forfeited or canceled, weighted average price per share (in dollars per share) | $ 0 | |
Unvested, shares (in shares) | 1,800 | |
Unvested, weighted average price per share (in dollars per share) | $ 3.88 |
Note 10 - Other Income - Schedu
Note 10 - Other Income - Schedule of Other Income (Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Interest income | $ 2,059 | $ 424 | $ 3,930 | $ 443 |
Realized gain on disposal of equipment | 0 | 69 | 0 | 70 |
Total other income | $ 2,059 | $ 493 | $ 3,930 | $ 513 |
Note 11 - License, Research a_2
Note 11 - License, Research and Collaboration Agreements (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | |
Nov. 30, 2018 | Mar. 31, 2023 | Jun. 30, 2023 | |
ABL Bio Agreement [Member] | |||
Upfront Payment | $ 5,000 | ||
Development Milestone Payment | 6,000 | ||
Maximum Development and Regulatory Milestone Payments | 96,000 | ||
ABL Bio Agreement [Member] | Oncology [Member] | |||
Maximum Commercial Milestone Payments and Royalties | 303,000 | ||
ABL Bio Agreement [Member] | Ophthalmology [Member] | |||
Maximum Development and Regulatory Milestone Payments | 75,000 | ||
Maximum Commercial Milestone Payments and Royalties | $ 110,000 | ||
Adimab Agreement [Member] | |||
Milestone Payments Paid | $ 0 | ||
Milestone Payment Obligation | $ 2,000 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
Proceeds from Issuance of Common Stock | $ 3,126 | $ 0 | |
At The Market [Member] | |||
Stock Issued During Period, Shares, New Issues (in shares) | 951,873 | ||
Shares Issued, Price Per Share (in dollars per share) | $ 3.28 | $ 3.28 | |
Proceeds from Issuance of Common Stock | $ 3,100 | ||
Proceeds from Issuance of Common Stock, Net | $ 3,000 |