Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 09, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-39563 | |
Entity Registrant Name | GEOVAX LABS, INC. | |
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 (in shares) | 26,443,649 | |
Entity Central Index Key | 0000832489 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock $0.001 par value | |
Trading Symbol | GOVX | |
Security Exchange Name | NASDAQ | |
Warrants to Purchase Common Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Warrants to Purchase Common Stock | |
Trading Symbol | GOVXW | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Assets [Abstract] | ||
Cash and cash equivalents | $ 17,788,911 | $ 27,612,732 |
Prepaid expenses | 2,038,283 | 1,325,998 |
Total current assets | 19,827,194 | 28,938,730 |
Property and equipment, net | 224,080 | 234,912 |
Other assets | 1,197,788 | 2,174,286 |
Total assets | 21,249,062 | 31,347,928 |
Current liabilities: | ||
Accounts payable | 871,131 | 1,747,682 |
Accrued expenses | 3,214,381 | 3,000,212 |
Total current liabilities | 4,085,512 | 4,747,894 |
Equity [Abstract] | ||
Authorized shares – 600,000,000 Issued and outstanding shares – 26,443,649 and 26,334,953 at March 31, 2023 and December 31, 2022, respectively | 26,444 | 26,335 |
Additional paid-in capital | 105,499,665 | 104,970,722 |
Accumulated deficit | (88,362,559) | (78,397,023) |
Total stockholders’ equity | 17,163,550 | 26,600,034 |
Total liabilities and stockholders’ equity | $ 21,249,062 | $ 31,347,928 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 600,000,000 | 600,000,000 |
Common Stock, Shares, Outstanding (in shares) | 26,443,649 | 26,334,953 |
Common stock, issued (in shares) | 26,443,649 | 26,334,953 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Grant revenue | $ 0 | $ 0 | $ 0 | $ 81,526 |
Operating expenses: | ||||
Research and development | 4,719,728 | 1,307,177 | 7,538,917 | 2,637,721 |
General and administrative | 1,459,093 | 935,311 | 2,910,518 | 2,114,335 |
Total operating expenses | 6,178,821 | 2,242,488 | 10,449,435 | 4,752,056 |
Loss from operations | (6,178,821) | (2,242,488) | (10,449,435) | (4,670,530) |
Other income: | ||||
Interest income | 251,201 | 789 | 483,899 | 1,316 |
Net loss | $ (5,927,620) | $ (2,241,699) | $ (9,965,536) | $ (4,669,214) |
Basic and diluted: | ||||
Net loss per common share (in dollars per share) | $ (0.22) | $ (0.18) | $ (0.38) | $ (0.47) |
Weighted average shares outstanding (in shares) | 26,443,649 | 12,721,696 | 26,391,403 | 9,931,088 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 6,381,541 | |||
Balance at Dec. 31, 2021 | $ 6,382 | $ 68,731,220 | $ (64,375,898) | $ 4,361,704 |
Stock option expense | 0 | 190,191 | 0 | 190,191 |
Net loss | $ 0 | 0 | (2,427,515) | (2,427,515) |
Sale of common stock and warrants for cash (in shares) | 707,484 | |||
Sale of common stock and warrants for cash | $ 707 | 9,228,541 | 0 | 9,229,248 |
Issuance of common stock upon warrant exercise (in shares) | 2,360,000 | |||
Issuance of common stock upon warrant exercise | $ 2,360 | (2,336) | 0 | 24 |
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 | 6,381,541 | |||
Balance at Dec. 31, 2021 | $ 6,382 | 68,731,220 | (64,375,898) | 4,361,704 |
Net loss | (4,669,214) | |||
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 |
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 |
Issuance of common stock for services (in shares) | 68,500 | |||
Issuance of common stock for services | $ 69 | 71,931 | 0 | 72,000 |
Stock option expense | 0 | 190,191 | 0 | 190,191 |
Net loss | $ 0 | 0 | (2,241,699) | (2,241,699) |
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 | 0 | 18,497,946 |
Issuance of common stock upon warrant exercise (in shares) | 5,671,214 | |||
Issuance of common stock upon warrant exercise | $ 5,671 | (5,104) | 0 | 567 |
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 |
Balance (in shares) at Dec. 31, 2022 | 26,334,953 | |||
Balance at Dec. 31, 2022 | $ 26,335 | 104,970,722 | (78,397,023) | 26,600,034 |
Issuance of common stock for services (in shares) | 108,696 | |||
Issuance of common stock for services | $ 109 | 74,891 | 0 | 75,000 |
Stock option expense | 0 | 228,039 | 0 | 228,039 |
Net loss | $ 0 | 0 | (4,037,916) | (4,037,916) |
Balance (in shares) at Mar. 31, 2023 | 26,443,649 | |||
Balance at Mar. 31, 2023 | $ 26,444 | 105,273,652 | (82,434,939) | 22,865,157 |
Balance (in shares) at Dec. 31, 2022 | 26,334,953 | |||
Balance at Dec. 31, 2022 | $ 26,335 | 104,970,722 | (78,397,023) | 26,600,034 |
Net loss | (9,965,536) | |||
Balance (in shares) at Jun. 30, 2023 | 26,443,649 | |||
Balance at Jun. 30, 2023 | $ 26,444 | 105,499,665 | (88,362,559) | 17,163,550 |
Balance (in shares) at Mar. 31, 2023 | 26,443,649 | |||
Balance at Mar. 31, 2023 | $ 26,444 | 105,273,652 | (82,434,939) | 22,865,157 |
Stock option expense | 0 | 226,013 | 0 | 226,013 |
Net loss | $ 0 | 0 | (5,927,620) | (5,927,620) |
Balance (in shares) at Jun. 30, 2023 | 26,443,649 | |||
Balance at Jun. 30, 2023 | $ 26,444 | $ 105,499,665 | $ (88,362,559) | $ 17,163,550 |
Condensed Consolidated of Cash
Condensed Consolidated of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (9,965,536) | $ (4,669,214) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 34,637 | 24,538 |
Stock-based compensation expense | 515,552 | 412,329 |
Changes in assets and liabilities: | ||
Grant funds receivable | 0 | (49,006) |
Prepaid expenses and other current assets | 698,785 | 939,487 |
Other assets | (976,498) | 976,498 |
Accounts payable and accrued expenses | (662,382) | (2,067,492) |
Total adjustments | 165,520 | (3,497,604) |
Net cash used in operating activities | (9,800,016) | (8,166,818) |
Cash flows from investing activities: | ||
Purchase of equipment | 23,805 | 82,383 |
Net cash used in investing activities | (23,805) | (82,383) |
Cash flows from financing activities: | ||
Net proceeds from sale of common stock and warrants | 0 | 27,727,194 |
Net proceeds from warrant exercise | 0 | 591 |
Net cash provided by financing activities | 0 | 27,727,785 |
Net increase (decrease) in cash and cash equivalents | (9,823,821) | 19,478,584 |
Cash and cash equivalents at beginning of period | 27,612,732 | 11,423,870 |
Cash and cash equivalents at end of period | $ 17,788,911 | $ 30,902,454 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 6 Months Ended |
Jun. 30, 2023 | |
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 herein as “GeoVax” or the “Company”. The Company is focused on developing immunotherapies and vaccines against cancers and infectious diseases using novel vector vaccine platforms. GeoVax’s product pipeline includes ongoing human clinical trials for a next-generation COVID-19 vaccine and a gene-directed therapy for advanced head and neck cancer. Additional preclinical research and development programs include preventive vaccines against Mpox (monkeypox), hemorrhagic fever viruses (Ebola Zaire, Ebola Sudan, Marburg, and Lassa Fever) Zika virus, and malaria, as well as immunotherapies for solid tumors. |
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. Summary of Significant Accounting Policies We disclosed in Note 2 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 those accounting policies that we consider significant in determining our results of operations and financial position. During the six months ended June 30, 2023, there have been no material changes to, or in the application of, the accounting policies previously identified and described in the Form 10-K. Basis of Presentation The accompanying financial statements include the accounts of GeoVax Labs, Inc. and GeoVax, Inc. All intercompany transactions have been eliminated in consolidation. The financial statements are unaudited, but include all adjustments, consisting of normal recurring entries, which we believe to be necessary for a fair presentation of interim periods presented. Interim results are not necessarily indicative of results for a full year. The financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022. We expect our operating results to fluctuate for the foreseeable future; therefore, period-to-period comparisons should not be relied upon as predictive of the results in future periods. We believe that our existing cash resources will be sufficient to continue our planned operations into the first quarter of 2024. We are devoting substantially all of our present efforts to research and development of our vaccine and immunotherapy candidates and expect to require additional funding to continue our research and development activities. We plan to pursue additional cash resources through public or private equity or debt financings, government grants, arrangements with strategic partners, or from other sources. There can be no assurance that additional funding will be available on favorable terms or at all. These factors collectively raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date these financial statements are issued. Management believes that we will be successful in securing the additional capital required to continue the Company’s planned operations, but that our plans do not fully alleviate the substantial doubt about the Company’s ability to operate as a going concern. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above. Recent Accounting Pronouncements During the six months ended June 30, 2023, there have been no new accounting pronouncements or changes in accounting pronouncements which we expect to have a material impact on our financial statements. |
Note 3 - Balance Sheet Componen
Note 3 - Balance Sheet Components | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 3. Balance Sheet Components Prepaid Expenses June 30, 2023 December 31, 2022 Prepaid clinical trial costs (current portion) $ 1,941,588 $ 1,171,077 Prepaid insurance premiums 36,150 107,876 Prepaid rent 13,045 13,045 Other prepaid expenses 47,500 34,000 Total prepaid expenses $ 2,038,283 $ 1,325,998 Property and Equipment June 30, 2023 December 31, 2022 Equipment and furnishings $ 749,617 $ 725,812 Leasehold improvements 115,605 115,605 Total property and equipment 865,222 841,417 Accumulated depreciation and amortization (641,142 ) (606,505 ) Total property and equipment, net $ 224,080 $ 234,912 Other Assets June 30, 2023 December 31, 2022 Prepaid clinical trial costs (noncurrent portion) $ 1,106,778 $ 2,083,276 Prepaid technology license fees 80,000 80,000 Deposits 11,010 11,010 Total other assets $ 1,197,788 $ 2,174,286 Accrued Expenses June 30, 2023 December 31, 2022 Accrued technology license fees $ 2,000,000 $ 2,000,000 Payroll-related liabilities 123,922 550,810 Other accrued expenses 1,090,459 449,402 Total accrued expenses $ 3,214,381 $ 3,000,212 |
Note 4 -Commitments
Note 4 -Commitments | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | 4. Commitments Operating Lease We lease approximately 8,400 square feet of office and laboratory space pursuant to an operating lease which expires on December 31, 2025. Rent expense for the three-month and six-month periods ended June 30, 2023 was $45,414 and $90,828, respectively, as compared to $44,089 and $88,178, respectively, for the same periods of 2022. Future minimum lease payments total $90,828 in 2023, $187,056 in 2024, and $192,708 in 2025 although the lease may be terminated at any time by either party with one hundred eighty days written notice. License Agreements We have entered into license agreements for various technologies and patent rights associated with our product development activities. These agreements may contain provisions for upfront payments, milestone fees due upon the achievement of selected development and regulatory events, minimum annual royalties or other fees, and royalties based on future net sales. Due to the uncertainty of the achievement and timing of the contingent events requiring payment under these agreements, the amounts to be paid by us in the future are not determinable. Other Commitments In the normal course of business, we enter into various contracts and purchase commitments including those with contract research organizations (“CROs”) for clinical trial services, contract manufacturing organizations (“CMOs”) for production of materials for use in our clinical trials, and other independent contractors or academic institutions for preclinical research activities and other services and products. Most contracts are generally cancellable, with notice, at the Company’s option. Payments due upon cancellation may consist of payments for services provided or expenses incurred to date, or cancellation penalties depending on the time of cancellation. |
Note 5 - Stockholders' Equity
Note 5 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 5. Stockholders Equity Common Stock Transactions During March 2023, we issued 108,696 shares of our common stock pursuant to a professional relations and consulting agreement. Stock Options We have a stock-based incentive plan (the “2020 Plan”) pursuant to which our Board of Directors may grant stock options and other stock-based awards to our employees, directors and consultants. A total of 2,075,500 shares of our common stock are reserved for future issuance pursuant to the 2020 Plan. During the six months ended June 30, 2023, 36,667 stock options were cancelled and there were no new grants of stock options or other transactions related to the 2020 Plan. As of June 30, 2023, there are 2,022,133 stock options outstanding, with a weighted-average exercise price of $1.90 per share and a weighted-average remaining contractual term of 8.7 years. Stock Purchase Warrants We have issued stock purchase warrants in connection with past financing and licensing transactions. During the six months ended June 30, 2023, there were no transactions related to our stock purchase warrants. As of June 30, 2023, there are 13,384,115 stock purchase warrants outstanding with a weighted-average exercise price of $2.77 per share and a weighted-average remaining term of 4.0 years. |
Note 6 - Stock-Based Compensati
Note 6 - Stock-Based Compensation Expense | 6 Months Ended |
Jun. 30, 2023 | |
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. Stock-based compensation expense related to stock option grants was $226,013 and $454,052 during the three-month and six-month periods ended June 30, 2023, respectively, as compared to $190,191 and $380,382, respectively, during the same periods of 2022. As of June 30, 2023, there is $962,090 of unrecognized compensation expense that we expect to recognize over a weighted-average period of 1.6 years. We have also issued shares of our restricted common stock to consultants and recognize the related expense over the terms of the related agreements. During the three-month and six-month periods ended June 30, 2023 we recorded stock-based compensation expense of $43,500 and $61,500, respectively, associated with common stock issued for consulting services, as compared to $16,987 and $31,947, respectively, for the same periods of 2022. As of June 30, 2023, there is $37,500 recorded as a prepaid expense for these arrangements, which will be recognized as expense over the term of the related agreement. |
Note 7 - Net Loss Per Share
Note 7 - Net Loss Per Share | 6 Months Ended |
Jun. 30, 2023 | |
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 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 15,406,248 and 18,967,629 shares at June 30, 2023 and 2022, respectively. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 8. Income Taxes No provision for income taxes was recorded in either of the six-month periods ended June 30, 2023 and 2022. The Company remains in a cumulative loss position with a full valuation allowance recorded against its net deferred income tax assets as of June 30, 2023. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying financial statements include the accounts of GeoVax Labs, Inc. and GeoVax, Inc. All intercompany transactions have been eliminated in consolidation. The financial statements are unaudited, but include all adjustments, consisting of normal recurring entries, which we believe to be necessary for a fair presentation of interim periods presented. Interim results are not necessarily indicative of results for a full year. The financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022. We expect our operating results to fluctuate for the foreseeable future; therefore, period-to-period comparisons should not be relied upon as predictive of the results in future periods. We believe that our existing cash resources will be sufficient to continue our planned operations into the first quarter of 2024. We are devoting substantially all of our present efforts to research and development of our vaccine and immunotherapy candidates and expect to require additional funding to continue our research and development activities. We plan to pursue additional cash resources through public or private equity or debt financings, government grants, arrangements with strategic partners, or from other sources. There can be no assurance that additional funding will be available on favorable terms or at all. These factors collectively raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date these financial statements are issued. Management believes that we will be successful in securing the additional capital required to continue the Company’s planned operations, but that our plans do not fully alleviate the substantial doubt about the Company’s ability to operate as a going concern. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements During the six months ended June 30, 2023, there have been no new accounting pronouncements or changes in accounting pronouncements which we expect to have a material impact on our financial statements. |
Note 3 - Balance Sheet Compon_2
Note 3 - Balance Sheet Components (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | June 30, 2023 December 31, 2022 Prepaid clinical trial costs (current portion) $ 1,941,588 $ 1,171,077 Prepaid insurance premiums 36,150 107,876 Prepaid rent 13,045 13,045 Other prepaid expenses 47,500 34,000 Total prepaid expenses $ 2,038,283 $ 1,325,998 |
Property, Plant and Equipment [Table Text Block] | June 30, 2023 December 31, 2022 Equipment and furnishings $ 749,617 $ 725,812 Leasehold improvements 115,605 115,605 Total property and equipment 865,222 841,417 Accumulated depreciation and amortization (641,142 ) (606,505 ) Total property and equipment, net $ 224,080 $ 234,912 |
Schedule of Other Assets [Table Text Block] | June 30, 2023 December 31, 2022 Prepaid clinical trial costs (noncurrent portion) $ 1,106,778 $ 2,083,276 Prepaid technology license fees 80,000 80,000 Deposits 11,010 11,010 Total other assets $ 1,197,788 $ 2,174,286 |
Schedule of Accrued Liabilities [Table Text Block] | June 30, 2023 December 31, 2022 Accrued technology license fees $ 2,000,000 $ 2,000,000 Payroll-related liabilities 123,922 550,810 Other accrued expenses 1,090,459 449,402 Total accrued expenses $ 3,214,381 $ 3,000,212 |
Note 3 - Balance Sheet Compon_3
Note 3 - Balance Sheet Components - Prepaid Expenses (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Prepaid clinical trial costs (current portion) | $ 1,941,588 | $ 1,171,077 |
Prepaid insurance premiums | 36,150 | 107,876 |
Prepaid rent | 13,045 | 13,045 |
Other prepaid expenses | 47,500 | 34,000 |
Total prepaid expenses | $ 2,038,283 | $ 1,325,998 |
Note 3 - Balance Sheet Compon_4
Note 3 - Balance Sheet Components - Schedule of Property and Equipment (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Total property and equipment | $ 865,222 | $ 841,417 |
Accumulated depreciation and amortization | (641,142) | (606,505) |
Total property and equipment, net | 224,080 | 234,912 |
Equipment and Furnishings [Member] | ||
Total property and equipment | 749,617 | 725,812 |
Leasehold Improvements [Member] | ||
Total property and equipment | $ 115,605 | $ 115,605 |
Note 3 - Balance SHeet Compon_5
Note 3 - Balance SHeet Components - Schedule of Other Assets (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Prepaid clinical trial costs (noncurrent portion) | $ 1,106,778 | $ 2,083,276 |
Prepaid technology license fees | 80,000 | 80,000 |
Deposits | 11,010 | 11,010 |
Total other assets | $ 1,197,788 | $ 2,174,286 |
Note 3 - Balance Sheet Compon_6
Note 3 - Balance Sheet Components - Schedule of Accrued Expenses (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Accrued technology license fees | $ 2,000,000 | $ 2,000,000 |
Payroll-related liabilities | 123,922 | 550,810 |
Other accrued expenses | 1,090,459 | 449,402 |
Total accrued expenses | $ 3,214,381 | $ 3,000,212 |
Note 4 -Commitments (Details Te
Note 4 -Commitments (Details Textual) - Office and Laboratory Lease Agreement [Member] | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 USD ($) ft² | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) ft² | Jun. 30, 2022 USD ($) | |
Area of Real Estate Property | ft² | 8,400 | 8,400 | ||
Operating Lease, Expense | $ 45,414 | $ 44,089 | $ 90,828 | $ 88,178 |
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year | 90,828 | 90,828 | ||
Lessee, Operating Lease, Liability, to be Paid, Year One | 187,056 | 187,056 | ||
Lessee, Operating Lease, Liability, to be Paid, Year Two | $ 192,708 | $ 192,708 |
Note 5 - Stockholders' Equity (
Note 5 - Stockholders' Equity (Details Textual) - $ / shares | 1 Months Ended | 6 Months Ended |
Mar. 31, 2023 | Jun. 30, 2023 | |
Stock Issued During Period, Shares, Issued for Services | 108,696 | |
Class of Warrant or Right, Outstanding | 13,384,115 | |
Class Of Warrant Or Right Outstanding Weighted Average Exercise Price | $ 2.77 | |
Warrants and Rights Outstanding, Term | 4 years | |
Stock Incentive Plan 2020 [Member] | ||
Common Stock, Capital Shares Reserved for Future Issuance | 2,075,500 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 36,667 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | 2,022,133 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 1.90 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 8 years 8 months 12 days |
Note 6 - Stock-Based Compensa_2
Note 6 - Stock-Based Compensation Expense (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 962,090 | $ 962,090 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 7 months 6 days | |||
Prepaid Expense, Value of Stock Issued for Services During Period | 37,500 | $ 37,500 | ||
Expense Related To Consulting And Investment Banking Agreements [Member] | ||||
Share-Based Payment Arrangement, Expense | 43,500 | $ 16,987 | 61,500 | $ 31,947 |
Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Payment Arrangement, Expense | $ 226,013 | $ 190,191 | $ 454,052 | $ 380,382 |
Note 7 - Net Loss Per Share (De
Note 7 - Net Loss Per Share (Details Textual) - shares | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 15,406,248 | 18,967,629 |