Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Nov. 09, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000832489 | |
Entity Registrant Name | GeoVax Labs, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-39563 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 87-0455038 | |
Entity Address, Address Line One | 1900 Lake Park Drive, Suite 380 | |
Entity Address, City or Town | Smyrna | |
Entity Address, State or Province | GA | |
Entity Address, Postal Zip Code | 30080 | |
City Area Code | 678 | |
Local Phone Number | 384-7220 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 26,334,953 | |
Warrants to Purchase Common Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Warrants to Purchase Common Stock | |
Trading Symbol | GOVXW | |
Security Exchange Name | NASDAQ | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock $0.001 par value | |
Trading Symbol | GOVX | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and cash equivalents | $ 34,676,968 | $ 11,423,870 |
Grant funds receivable | 49,006 | |
Total prepaid expenses | 1,460,207 | 156,240 |
Total current assets | 36,137,175 | 11,629,116 |
Property and equipment, net | 248,983 | 156,938 |
Other assets | 2,184,286 | 11,010 |
Total assets | 38,570,444 | 11,797,064 |
Current liabilities: | ||
Accounts payable | 1,079,421 | 2,057,534 |
Accrued expenses | 3,709,984 | 3,377,826 |
Total current liabilities | 4,789,405 | 5,435,360 |
Other liabilities | 2,000,000 | 2,000,000 |
Total liabilities | 6,789,405 | 7,435,360 |
Commitments (Note 4) | ||
Stockholders’ equity: | ||
Common stock, $.001 par value: Authorized shares – 600,000,000 Issued and outstanding shares – 9,449,025 and 6,381,541 at March 31, 2022 and December 31, 2021, respectively | 26,335 | 6,382 |
Additional paid-in capital | 104,767,918 | 68,731,220 |
Accumulated deficit | (73,013,214) | (64,375,898) |
Total stockholders’ equity | 31,781,039 | 4,361,704 |
Total liabilities and stockholders’ equity | $ 38,570,444 | $ 11,797,064 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2022 | Dec. 31, 2021 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 600,000,000 | 600,000,000 |
Common stock, issued (in shares) | 26,334,953 | 6,381,541 |
Common stock, outstanding (in shares) | 26,334,953 | 6,381,541 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Grant and collaboration revenue | $ 0 | $ 30,414 | $ 81,526 | $ 220,539 |
Operating expenses: | ||||
Research and development | 2,721,196 | 1,224,362 | 5,358,917 | 2,659,980 |
General and administrative | 1,249,337 | 757,432 | 3,363,672 | 2,562,641 |
Total operating expenses | 3,970,533 | 1,981,794 | 8,722,589 | 5,222,621 |
Loss from operations | (3,970,533) | (1,951,380) | (8,641,063) | (5,002,082) |
Other income (expense): | ||||
Interest income | 2,431 | 877 | 3,747 | 3,998 |
Interest expense | 0 | 0 | 0 | (1,286) |
Gain on debt extinguishment | 0 | 0 | 0 | 172,056 |
Total other income (expense) | 2,431 | 877 | 3,747 | 174,768 |
Net loss | $ (3,968,102) | $ (1,950,503) | $ (8,637,316) | $ (4,827,314) |
Basic and diluted: | ||||
Net loss per common share (in dollars per share) | $ (0.17) | $ (0.31) | $ (0.63) | $ (0.80) |
Weighted average shares outstanding (in shares) | 23,461,665 | 6,349,297 | 13,818,315 | 6,005,032 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 100 | 3,834,095 | |||
Balance at Dec. 31, 2020 | $ 76,095 | $ 3,834 | $ 55,294,504 | $ (45,805,581) | $ 9,568,852 |
Common stock issued (in shares) | 0 | 835,900 | |||
Issuance of common stock upon warrant exercise | $ 0 | $ 836 | 3,173,320 | 0 | 3,174,156 |
Stock option expense | 56,190 | 56,190 | |||
Net loss | (1,562,778) | (1,562,778) | |||
Issuance of common stock for services (in shares) | 0 | 1,472 | |||
Issuance of common stock for services | $ 0 | $ 1 | 5,999 | 0 | 6,000 |
Net loss | (1,562,778) | (1,562,778) | |||
Sale of common stock for cash (in shares) | 0 | 1,644,000 | |||
Sale of common stock for cash | $ 0 | $ 1,644 | 9,407,276 | 0 | 9,408,920 |
Balance (in shares) at Mar. 31, 2021 | 100 | 6,315,467 | |||
Balance at Mar. 31, 2021 | $ 76,095 | $ 6,315 | 67,937,289 | (47,368,359) | 20,651,340 |
Balance (in shares) at Dec. 31, 2020 | 100 | 3,834,095 | |||
Balance at Dec. 31, 2020 | $ 76,095 | $ 3,834 | 55,294,504 | (45,805,581) | 9,568,852 |
Net loss | (4,827,314) | ||||
Net loss | (4,827,314) | ||||
Balance (in shares) at Sep. 30, 2021 | 0 | 6,381,541 | |||
Balance at Sep. 30, 2021 | $ 0 | $ 6,382 | 68,630,363 | (50,632,895) | 18,003,850 |
Balance (in shares) at Mar. 31, 2021 | 100 | 6,315,467 | |||
Balance at Mar. 31, 2021 | $ 76,095 | $ 6,315 | 67,937,289 | (47,368,359) | 20,651,340 |
Stock option expense | 0 | 0 | 56,190 | 0 | 56,190 |
Net loss | $ 0 | $ 0 | 0 | (1,314,033) | (1,314,033) |
Issuance of common stock for services (in shares) | 0 | 12,235 | |||
Issuance of common stock for services | $ 0 | $ 13 | 65,828 | 0 | 65,841 |
Net loss | $ 0 | $ 0 | 0 | (1,314,033) | (1,314,033) |
Repurchase of preferred stock (in shares) | (100) | 0 | |||
Repurchase of preferred stock | $ (76,095) | $ 0 | 75,095 | 0 | (1,000) |
Balance (in shares) at Jun. 30, 2021 | 0 | 6,327,702 | |||
Balance at Jun. 30, 2021 | $ 0 | $ 6,328 | 68,134,402 | (48,682,392) | 19,458,338 |
Common stock issued (in shares) | 0 | 53,839 | |||
Issuance of common stock upon warrant exercise | $ 0 | $ 54 | 229,946 | 0 | 230,000 |
Stock option expense | 0 | 0 | 56,190 | 0 | 56,190 |
Net loss | 0 | 0 | 0 | (1,950,503) | (1,950,503) |
Net loss | 0 | 0 | 0 | (1,950,503) | (1,950,503) |
Issuance of warrant for technology license | $ 0 | $ 0 | 209,825 | 0 | 209,825 |
Balance (in shares) at Sep. 30, 2021 | 0 | 6,381,541 | |||
Balance at Sep. 30, 2021 | $ 0 | $ 6,382 | 68,630,363 | (50,632,895) | 18,003,850 |
Balance (in shares) at Dec. 31, 2021 | 0 | 6,381,541 | |||
Balance at Dec. 31, 2021 | $ 0 | $ 6,382 | 68,731,220 | (64,375,898) | 4,361,704 |
Sale of common stock and warrants for cash (in shares) | 0 | 707,484 | |||
Sale of common stock and warrants for cash | $ 0 | $ 707 | 9,228,541 | 0 | 9,229,248 |
Common stock issued (in shares) | 0 | 2,360,000 | |||
Issuance of common stock upon warrant exercise | $ 0 | $ 2,360 | (2,336) | 0 | 24 |
Stock option expense | 0 | $ 0 | 190,191 | 0 | 190,191 |
Net loss | 0 | (2,427,515) | (2,427,515) | ||
Net loss | $ 0 | (2,427,515) | (2,427,515) | ||
Balance (in shares) at Mar. 31, 2022 | 9,449,025 | ||||
Balance at Mar. 31, 2022 | $ 9,449 | 78,147,616 | (66,803,413) | 11,353,652 | |
Balance (in shares) at Dec. 31, 2021 | 0 | 6,381,541 | |||
Balance at Dec. 31, 2021 | $ 0 | $ 6,382 | 68,731,220 | (64,375,898) | 4,361,704 |
Net loss | (8,637,316) | ||||
Net loss | (8,637,316) | ||||
Balance (in shares) at Sep. 30, 2022 | 0 | 26,334,953 | |||
Balance at Sep. 30, 2022 | $ 0 | $ 26,335 | 104,767,918 | (73,013,214) | 31,781,039 |
Balance (in shares) at Mar. 31, 2022 | 9,449,025 | ||||
Balance at Mar. 31, 2022 | $ 9,449 | 78,147,616 | (66,803,413) | 11,353,652 | |
Sale of common stock and warrants for cash (in shares) | 1,050,000 | ||||
Sale of common stock and warrants for cash | $ 1,050 | 18,496,896 | 18,497,946 | ||
Common stock issued (in shares) | 5,671,214 | ||||
Issuance of common stock upon warrant exercise | $ 5,671 | (5,104) | 567 | ||
Stock option expense | $ 0 | 190,191 | 190,191 | ||
Net loss | (2,241,699) | (2,241,699) | |||
Issuance of common stock for services (in shares) | 68,500 | ||||
Issuance of common stock for services | $ 69 | 71,931 | 72,000 | ||
Net loss | (2,241,699) | (2,241,699) | |||
Balance (in shares) at Jun. 30, 2022 | 16,238,739 | ||||
Balance at Jun. 30, 2022 | $ 16,239 | 96,901,530 | (69,045,112) | 27,872,657 | |
Common stock issued (in shares) | 0 | 10,021,214 | |||
Issuance of common stock upon warrant exercise | $ 0 | $ 10,021 | 7,615,522 | 0 | 7,625,543 |
Stock option expense | 0 | 0 | 190,191 | 0 | 190,191 |
Net loss | $ 0 | $ 0 | 0 | (3,968,102) | (3,968,102) |
Issuance of common stock for services (in shares) | 0 | 75,000 | |||
Issuance of common stock for services | $ 0 | $ 75 | 60,675 | 0 | 60,750 |
Net loss | $ 0 | $ 0 | 0 | (3,968,102) | (3,968,102) |
Balance (in shares) at Sep. 30, 2022 | 0 | 26,334,953 | |||
Balance at Sep. 30, 2022 | $ 0 | $ 26,335 | $ 104,767,918 | $ (73,013,214) | $ 31,781,039 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Cash flows from operating activities: | ||
Net loss | $ (8,637,316) | $ (4,827,314) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 42,213 | 26,806 |
Warrant issued for technology license | 0 | 209,825 |
Gain on debt extinguishment | 0 | (172,056) |
Changes in assets and liabilities: | ||
Grant funds and other receivables | 49,006 | 182,663 |
Prepaid expenses and other current assets | (1,251,539) | 106,979 |
Deposits and other assets | (2,173,276) | 0 |
Accounts payable and accrued expenses | (645,955) | (289,477) |
Total adjustments | (3,328,656) | 314,043 |
Net cash used in operating activities | (11,965,972) | (4,513,271) |
Cash flows from investing activities | ||
Purchase of equipment | (134,258) | (47,718) |
Net cash used in investing activities | (134,258) | (47,718) |
Cash flows from financing activities: | ||
Net proceeds from sale of common stock and warrants | 27,727,194 | 9,408,920 |
Net proceeds from warrant exercises | 7,626,134 | 3,404,156 |
Repurchase of preferred stock | 0 | (1,000) |
Principal repayment of note payable | 0 | (27,864) |
Net cash provided by financing activities | 35,353,328 | 12,784,212 |
Net increase in cash and cash equivalents | 23,253,098 | 8,223,223 |
Cash and cash equivalents at beginning of period | 11,423,870 | 9,883,796 |
Cash and cash equivalents at end of period | 34,676,968 | 18,107,019 |
Employees and Directors [Member] | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation expense | 570,573 | 168,570 |
Consultants [Member] | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation expense | $ 80,322 | $ 80,733 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) | 9 Months Ended |
Sep. 30, 2022 USD ($) shares | |
Paycheck Protection Program CARES Act [Member] | |
Extinguishment of debt | $ | $ 172,056 |
Stock Purchase Warrants First Issuance [Member] | |
Common stock issued (in shares) | 145,866 |
Stock purchase warrants exercised (in shares) | 188,668 |
Note 1 - Nature of Business
Note 1 - Nature of Business | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Nature of Business GeoVax Labs, Inc., headquartered in the Atlanta, Georgia metropolitan area, is a clinical-stage biotechnology company incorporated under the laws of the State of Delaware. GeoVax Labs, Inc. and its wholly owned subsidiary, GeoVax, Inc., a Georgia corporation, are collectively referred to as “GeoVax” or the “Company”. The Company is focused on developing immunotherapies and vaccines against infectious diseases and cancers using novel vector vaccine platforms. GeoVax’s product pipeline includes ongoing human clinical trials for vaccines against COVID- 19 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies We disclosed in Note 2 10 December 31, 2021 nine September 30, 2022, no 10 Basis of Presentation not 10 December 31, 2021. not Our financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business. As of the date these financial statements are issued, the Company expects its existing cash and cash equivalents to be sufficient to fund its operations for at least the next twelve may Recent Accounting Pronouncements nine September 30, 2022, no |
Note 3 - Balance Sheet Componen
Note 3 - Balance Sheet Components | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 3. Balance Sheet Components Prepaid Expenses September 30, 2022 December 31, 2021 Prepaid clinical trial costs (current portion) $ 1,231,337 $ - Prepaid insurance premiums 143,450 123,248 Prepaid rent 13,045 13,045 Other prepaid expenses 72,375 19,947 Total prepaid expenses $ 1,460,207 $ 156,240 Property and Equipment September 30, 2022 December 31, 2021 Equipment and furnishings $ 725,812 $ 591,554 Leasehold improvements 115,605 115,605 Total property and equipment 841,417 707,159 Accumulated depreciation and amortization (592,434 ) (550,221 ) Total property and equipment, net $ 248,983 $ 156,938 Other Assets September 30, 2022 December 31, 2021 Prepaid clinical trial costs (noncurrent portion) $ 2,083,276 $ - Prepaid technology license fees 90,000 - Deposits 11,010 11,010 Total other assets $ 2,184,286 $ 11,010 Accrued Expenses September 30, 2022 December 31, 2021 Accrued technology license fees – current portion $ 3,000,000 $ 3,000,000 Accrued compensation - 269,000 Other accrued expenses 709,984 108,826 Total accrued expenses $ 3,709,984 $ 3,377,826 Other Liabilities September 30, 2022 December 31, 2021 |
Note 4 - Commitments
Note 4 - Commitments | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | 4. Commitments Operating Lease December 31, 2022, three nine September 30, 2022 2021. 2022. License Agreements may Clinical Trial Commitments September 30, 2022, Other Commitments September 30, 2022, |
Note 5 - Stockholders' Equity
Note 5 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | 5. Stockholders Equity January 2022 January 19, 2022, “Jan 2022 “Jan 2022 March 2022, Jan 2022 Jan 2022 February 10, 2027. May 2022 May 27, 2022, “May 2022 “May 2022 The May 2022 June July August, May 2022 Other Common Stock Transactions May July, Stock Options “2020 may 2020 nine September 30, 2022, 2020 September 30, 2022, Stock Purchase Warrants September 30, 2022. Warrant Description Number of Shares Exercise Price Expiration 2020 Warrants 120,000 $ 1.65 Jun 2025 2020 Unit Warrants 2,396,631 5.00 Sep 2025 2020 Representative Warrants 128,000 5.50 Mar 2024 2021 Representative Warrants 72,000 6.875 Aug 2024 2021 Warrants 100,000 13.00 Sep 2026 Jan 2022 Common Warrants 3,067,484 3.26 Feb 2027 May 2022 Preferred Investment Options 7,500,000 1.65 May 2028 Total Warrants Outstanding at September 30, 2022 13,384,115 |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation Expense | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 6. Stock-Based Compensation Expense Stock-based compensation expense related to stock options is recognized on a straight-line basis over the requisite service period for the award and is allocated to research and development expense or general and administrative expense based upon the classification of the individual to whom the award is granted. As of September 30, 2022, 1.7 We also have issued shares of restricted common stock to consultants and recognize the related expense over the terms of the related agreements. As of September 30, 2022, The following table summarizes our total stock-based compensation expense for employees, directors and consultants: Three Months Ended Sep. 30, Nine Months Ended Sep. 30, 2022 2021 2022 2021 Stock options: Research and development $ 54,293 $ 21,468 $ 162,878 $ 64,404 General and administrative 135,898 34,722 407,695 104,166 Total stock option expense 190,191 56,190 570,573 168,570 Stock awards (consultants): General and administrative 48,375 29,560 80,322 80,733 Total stock-based compensation expense $ 238,566 $ 85,750 $ 650,895 $ 249,303 During September 2021, |
Note 7 - Net Loss Per Share
Note 7 - Net Loss Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 7. Net Loss Per Share Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. The Company’s additional potentially dilutive securities, which include stock options and stock purchase warrants, have been excluded from the computation of diluted net loss per share as the effect would be antidilutive. The securities that could potentially dilute basic earnings per share in the future and that have been excluded from the computation of diluted net loss per share totaled 14,346,415 and 3,418,631 shares at September 30, 2022 2021, |
Note 8 - Income Taxes
Note 8 - Income Taxes | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 8. Income Taxes No nine September 30, 2022 2021. September 30, 2022. |
Note 3 - Balance Sheet Compon_2
Note 3 - Balance Sheet Components (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | September 30, 2022 December 31, 2021 Prepaid clinical trial costs (current portion) $ 1,231,337 $ - Prepaid insurance premiums 143,450 123,248 Prepaid rent 13,045 13,045 Other prepaid expenses 72,375 19,947 Total prepaid expenses $ 1,460,207 $ 156,240 |
Property, Plant and Equipment [Table Text Block] | September 30, 2022 December 31, 2021 Equipment and furnishings $ 725,812 $ 591,554 Leasehold improvements 115,605 115,605 Total property and equipment 841,417 707,159 Accumulated depreciation and amortization (592,434 ) (550,221 ) Total property and equipment, net $ 248,983 $ 156,938 |
Schedule of Other Assets [Table Text Block] | September 30, 2022 December 31, 2021 Prepaid clinical trial costs (noncurrent portion) $ 2,083,276 $ - Prepaid technology license fees 90,000 - Deposits 11,010 11,010 Total other assets $ 2,184,286 $ 11,010 |
Schedule of Accrued Liabilities [Table Text Block] | September 30, 2022 December 31, 2021 Accrued technology license fees – current portion $ 3,000,000 $ 3,000,000 Accrued compensation - 269,000 Other accrued expenses 709,984 108,826 Total accrued expenses $ 3,709,984 $ 3,377,826 |
Note 5 - Stockholders' Equity (
Note 5 - Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrant Description Number of Shares Exercise Price Expiration 2020 Warrants 120,000 $ 1.65 Jun 2025 2020 Unit Warrants 2,396,631 5.00 Sep 2025 2020 Representative Warrants 128,000 5.50 Mar 2024 2021 Representative Warrants 72,000 6.875 Aug 2024 2021 Warrants 100,000 13.00 Sep 2026 Jan 2022 Common Warrants 3,067,484 3.26 Feb 2027 May 2022 Preferred Investment Options 7,500,000 1.65 May 2028 Total Warrants Outstanding at September 30, 2022 13,384,115 |
Note 6 - Stock-based Compensa_2
Note 6 - Stock-based Compensation Expense (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended Sep. 30, Nine Months Ended Sep. 30, 2022 2021 2022 2021 Stock options: Research and development $ 54,293 $ 21,468 $ 162,878 $ 64,404 General and administrative 135,898 34,722 407,695 104,166 Total stock option expense 190,191 56,190 570,573 168,570 Stock awards (consultants): General and administrative 48,375 29,560 80,322 80,733 Total stock-based compensation expense $ 238,566 $ 85,750 $ 650,895 $ 249,303 |
Note 3 - Balance Sheet Compon_3
Note 3 - Balance Sheet Components (Details Textual) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Other Liabilities, Total | $ 2,000,000 | $ 2,000,000 |
Note 3 - Balance Sheet Compon_4
Note 3 - Balance Sheet Components - Prepaid Expenses (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Prepaid clinical trial costs (current portion) | $ 1,231,337 | $ 0 |
Prepaid insurance premiums | 143,450 | 123,248 |
Prepaid rent | 13,045 | 13,045 |
Other prepaid expenses | 72,375 | 19,947 |
Total prepaid expenses | $ 1,460,207 | $ 156,240 |
Note 3 - Balance Sheet Compon_5
Note 3 - Balance Sheet Components - Schedule of Property and Equipment (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Property and equipment, gross | $ 841,417 | $ 707,159 |
Accumulated depreciation and amortization | (592,434) | (550,221) |
Total property and equipment, net | 248,983 | 156,938 |
Equipment and Furnishings [Member] | ||
Property and equipment, gross | 725,812 | 591,554 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | $ 115,605 | $ 115,605 |
Note 3 - Balance Sheet Compon_6
Note 3 - Balance Sheet Components - Schedule Of Other Assets (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Prepaid clinical trial costs (noncurrent portion) | $ 2,083,276 | $ 0 |
Prepaid technology license fees | 90,000 | 0 |
Deposits | 11,010 | 11,010 |
Total other assets | $ 2,184,286 | $ 11,010 |
Note 3 - Balance Sheet Compon_7
Note 3 - Balance Sheet Components - Schedule of Accrued Expenses (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Accrued technology license fees – current portion | $ 3,000,000 | $ 3,000,000 |
Accrued compensation | 0 | 269,000 |
Other accrued expenses | 709,984 | 108,826 |
Total accrued expenses | $ 3,709,984 | $ 3,377,826 |
Note 4 - Commitments (Details T
Note 4 - Commitments (Details Textual) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 USD ($) ft² | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) ft² | Sep. 30, 2021 USD ($) | |
Licensing Agreement, Future Minimum Payments Receivable, Current | $ 409,000 | $ 409,000 | ||
Non-cancellable Obligations | 1,200,000 | 1,200,000 | ||
Unrecorded Unconditional Purchase Obligation, Total | $ 612,000 | $ 612,000 | ||
Office and Laboratory Lease Agreement [Member] | ||||
Area of Real Estate Property (Square Foot) | ft² | 8,400 | 8,400 | ||
Operating Lease, Expense | $ 44,089 | $ 42,803 | $ 132,267 | $ 128,410 |
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year | $ 44,089 | $ 44,089 |
Note 5 - Stockholders' Equity_2
Note 5 - Stockholders' Equity (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||
May 27, 2022 | Jan. 19, 2022 | Aug. 31, 2022 | Jul. 31, 2022 | May 31, 2022 | Mar. 31, 2021 | Sep. 30, 2022 | May 29, 2028 | |
Stock Issued During Period, Value, New Issues | $ 9,408,920 | |||||||
Stock Incentive Plan 2020 [Member] | ||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 1,500,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 962,300 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 3.18 | |||||||
Restricted Stock [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares) | 75,000 | 68,500 | ||||||
Pre-Funded Warrants [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 11,071,214 | 2,360,000 | ||||||
Class of Warrant or Right, Exercised (in shares) | 1,980,304 | |||||||
Common Warrant [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 3,067,484 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.26 | |||||||
Preferred Investment Options [Member] | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 12,121,214 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.65 | |||||||
Proceeds from Issuance or Sale of Equity, Total | $ 7,626,000 | |||||||
Class of Warrant or Right, Exercised (in shares) | 4,621,214 | |||||||
Preferred Investment Options [Member] | Forecast [Member] | ||||||||
Class Of Warrant Or Rights, Amount Of Shares To Expire (in shares) | 9,090,910 | |||||||
Stock Purchase Warrants [Member] | ||||||||
Warrants and Rights Outstanding, Term (Year) | 8 years 7 months 6 days | |||||||
Private Placement [Member] | ||||||||
Stock Issued During Period, Value, New Issues | $ 1,050,000 | $ 707,484 | ||||||
Proceeds from Issuance or Sale of Equity, Total | $ 18,500,000 | $ 9,200,000 |
Note 5 - Stockholders' Equity -
Note 5 - Stockholders' Equity - Schedule of Warrants (Details) | Sep. 30, 2022 $ / shares shares |
Number of shares (in shares) | 13,384,115 |
Warrants 2020 [Member] | |
Number of shares (in shares) | 120,000 |
Exercise price (in dollars per share) | $ / shares | $ 1.65 |
Unit Warrants 2020 [Member] | |
Number of shares (in shares) | 2,396,631 |
Exercise price (in dollars per share) | $ / shares | $ 5 |
Representative Warrants 2020 [Member] | |
Number of shares (in shares) | 128,000 |
Exercise price (in dollars per share) | $ / shares | $ 5.50 |
Representative Warrants 2021 [Member] | |
Number of shares (in shares) | 72,000 |
Exercise price (in dollars per share) | $ / shares | $ 6.875 |
Warrants 2021 [Member] | |
Number of shares (in shares) | 100,000 |
Exercise price (in dollars per share) | $ / shares | $ 13 |
January 2022 Common Warrants [Member] | |
Number of shares (in shares) | 3,067,484 |
Exercise price (in dollars per share) | $ / shares | $ 3.26 |
May 2022 Preferred Investment Options 1 [Member] | |
Number of shares (in shares) | 7,500,000 |
Exercise price (in dollars per share) | $ / shares | $ 1.65 |
Note 6 - Stock-based Compensa_3
Note 6 - Stock-based Compensation Expense (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended |
Sep. 30, 2021 | Sep. 30, 2022 | |
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 849,571 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 8 months 12 days | |
Prepaid Expense, Value of Stock Issued for Services During Period | $ 72,375 | |
Research and Development Expense [Member] | ||
Warrant Issuance Expense | $ 209,825 |
Note 6 - Stock-Based Compensa_4
Note 6 - Stock-Based Compensation Expense - Schedule of Stock-Based Compensation Expense (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Total stock-based compensation expense | $ 238,566 | $ 85,750 | $ 650,895 | $ 249,303 |
Share-Based Payment Arrangement, Option [Member] | ||||
Total stock-based compensation expense | 190,191 | 56,190 | 570,573 | 168,570 |
Share-Based Payment Arrangement, Option [Member] | Research and Development Expense [Member] | ||||
Total stock-based compensation expense | 54,293 | 21,468 | 162,878 | 64,404 |
Share-Based Payment Arrangement, Option [Member] | General and Administrative Expense [Member] | ||||
Total stock-based compensation expense | 135,898 | 34,722 | 407,695 | 104,166 |
Restricted Stock [Member] | General and Administrative Expense [Member] | ||||
Total stock-based compensation expense | $ 48,375 | $ 29,560 | $ 80,322 | $ 80,733 |
Note 7 - Net Loss Per Share (De
Note 7 - Net Loss Per Share (Details Textual) - shares | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 14,346,415 | 3,418,631 |