0001437749-21-004115 | 10-K | XBRL Viewer

Prepaid expenses and other assets

3,285,000

(1,823,000)

13,500,000

(1,108,000)

855,000

(873,000)

Net cash used in operating activities

1,207,000

(62,000)

(3,784,000)

Accrued liabilities

(579,000)

2,312,000

(6,393,000)

(23,750,000)

(13,090,000)

(14,548,000)

Cash flows from investing activities:

Purchase of property and equipment

(1,223,000)

(850,000)

(707,000)

Proceeds from sale of equipment

3,000

Cash acquired in reverse merger

25,525,000

Cash paid for fractional shares in merger

(21,000)

Purchases of short-term investments

(573,000)

Proceeds from maturities of short-term investments

1,988,000

Net cash (used in) provided by investing activities

(1,220,000)

(850,000)

26,212,000

Proceeds from issuance of common stock upon exercise of pre-funded warrants

1,226,000

Proceeds from issuance of common stock upon exercise of common stock warrants

25,951,000

180,000

Proceeds from issuance of common stock upon exercise of stock options

602,000

13,000

Disgorgement of short-swing profits, net of costs

652,000

Repayment of principal on secured promissory note payable to Oxford Finance

(3,799,000)

(1,528,000)

Repayment of short-term note

(214,000)

Net cash provided by (used in) financing activities

138,314,000

15,960,000

(1,729,000)

Net increase in cash and cash equivalents

113,344,000

2,020,000

9,935,000

Cash and cash equivalents at beginning of the period

13,526,000

11,506,000

1,571,000

Cash and cash equivalents at end of the period

126,870,000

13,526,000

11,506,000

Supplemental disclosure of cash flow information:

Interest paid

227,000

356,000

Supplemental disclosure of non-cash investing and financing activity:

Issuance of warrants to placement agents’ designees

453,000

100,000

Issuance of warrants to underwriters’ designees

830,000

Issuance of common stock upon reverse merger, net of cash paid for partial shares

31,768,000

Conversion of convertible promissory notes, related parties into common stock upon reverse merger

35,577,000

Reclassification of convertible preferred stock warrant liability to equity

70,000

Operating lease liabilities arising from obtaining right-of-use assets

5,664,000

1,929,000

Property and equipment acquired as an incentive to enter an operating lease

87,000

Acquisition of property and equipment included in accounts payable

78,000

4,000

52,000

Proceeds due for sale of property and equipment included in prepaid expenses and other current assets

3,000

Registered Direct Offering [Member]

Net proceeds from issuance of common stock

9,175,000

2,540,000

ATM Program [Member]

Net proceeds from issuance of common stock

101,934,000

The April 2019 Offering [Member]

Net proceeds from issuance of common stock, pre-funded warrants and common warrants in underwritten offering

8,074,000

The September 2019 Offering [Member]

Net proceeds from issuance of common stock, pre-funded warrants and common warrants in underwritten offering

$ 7,739,000

[1]	The bargain purchase gain represents the excess of the fair value of tangible and identified intangible assets acquired, less liabilities assumed, over the purchase price.

Note 1 - Organization and Basis of Presentation	12 Months Ended
Note 1 - Organization and Basis of Presentation	Dec. 31, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1. Organization and Basis of Presentation General Vaxart Biosciences, Inc. was originally incorporated in California in March 2004, under the name West Coast Biologicals, Inc. The Company changed its name to Vaxart, Inc. (“Private Vaxart”) in July 2007, and reincorporated in the state of Delaware. On February 13, 2018, Private Vaxart completed a business combination with Aviragen Therapeutics, Inc. (“Aviragen”), pursuant to which Aviragen merged with Private Vaxart, with Private Vaxart surviving as a wholly-owned subsidiary of Aviragen (the “Merger”). Pursuant to the terms of the Merger, Aviragen changed its name to Vaxart, Inc. (together with its subsidiaries, the “Company” or “Vaxart”) and Private Vaxart changed its name to Vaxart Biosciences, Inc. All Private Vaxart's convertible promissory notes and convertible preferred stock was converted into common stock, following which each share of common stock was converted into approximately 0.22148 shares of the Company's common stock (the “Conversion”). Except as otherwise noted in these Consolidated Financial Statements, all shares, equity securities and per share amounts of Private Vaxart are presented to give retroactive effect to the Conversion. Immediately following the completion of the Merger, the Company effected a reverse stock split at a ratio of one new share for every eleven shares of the Company's common stock outstanding (the “Reverse Stock Split”). Except as otherwise noted in these Consolidated Financial Statements, all share, equity security and per share amounts are presented to give retroactive effect to the Reverse Stock Split. Immediately after the Reverse Stock Split there were approximately 7.1 million shares of the Company's common stock outstanding. Private Vaxart's stockholders, warrantholders and optionholders owned approximately 51% of the fully-diluted common stock of the Company, with Aviragen's stockholders and optionholders immediately prior to the Merger owning approximately 49% of the fully-diluted common stock of the Company. The Company also assumed all Private Vaxart's outstanding stock options and warrants with proportionate adjustments to the number of underlying shares and exercise prices based on an exchange ratio, based on the combined impact of the Conversion and the Reverse Stock Split, of approximately 0.0201346 shares of the Company for each share of Private Vaxart. On March 20, 2019, the Company completed a registered direct offering (the “March 2019 Offering”) of 1,200,000 shares of the Company's common stock. The total gross proceeds from the offering to the Company were $3.0 million. After deducting placement agent fees and offering expenses payable by the Company, the aggregate net proceeds received by the Company totaled $2.5 million. Pursuant to the terms of the engagement letter with the placement agents, the Company paid the placement agents aggregate fees and reimbursable costs of $320,000. In addition, the Company issued the placement agents' designees 84,000 common stock warrants at the closing of the March 2019 Offering, each warrant entitling the holder to purchase one share of common stock for $3.125 at any time within five years of the effective date of the March 2019 Offering. The aggregate fair value of these warrants at issuance was estimated to be $100,000 (see Note 12 ), which was recorded in offering costs. On April 11, 2019, the Company completed a public underwritten offering (the “April 2019 Offering”) of 925,455 shares of common stock, 8,165,455 pre-funded warrants, and warrants to purchase 10,454,546 shares of common stock (including 1,363,636 common stock warrants issued upon the exercise by the underwriters of their option to purchase such warrants). Each share of common stock with an accompanying common stock warrant was sold for $1.10, and each pre-funded warrant with an accompanying common stock warrant was sold for $1.00, with the amount paid for each accompanying common stock warrant being $0.10. Each pre-funded warrant entitled the holder to purchase one share of common stock for $0.10, was immediately exercisable, subject to certain ownership limitations, and was exercisable at any time until all the pre-funded warrants were exercised in full. Each common stock warrant entitles the holder to purchase one share of common stock for $1.10, is exercisable immediately, subject to certain ownership limitations, and will expire five years from the date of issuance. Pursuant to the terms of an underwriting agreement, the Company paid the underwriters aggregate commissions and reimbursable costs of $750,000. In addition, the Company issued the underwriters' designees 636,364 common stock warrants at the closing of the April 2019 Offering, each warrant entitling the holder to purchase one share of common stock for $1.375 at any time within five years of their issuance date. The aggregate fair value of these warrants at issuance was estimated to be $333,000 (see Note 12 ), which was recorded in offering costs. The total gross proceeds from the April 2019 Offering to the Company were $9.3 million. After deducting underwriting discounts, commissions and offering expenses payable by the Company, the aggregate net proceeds received by the Company were $8.1 million. In addition, as of December 31, 2020, the Company had received a further $0.8 million from the exercise of all 8,165,455 pre-funded warrants, $11.3 million from the exercise of 10,228,580 common stock warrants issued to investors and $0.7 million from the exercise of 524,433 common stock warrants issued to underwriters' designees issued in the April 2019 Offering. On September 30, 2019, the Company completed a public underwritten offering (the “September 2019 Offering”) of 26,124,828 shares of common stock (including 3,558,161 shares of common stock issued upon the partial exercise by the underwriters of their option to purchase 4,000,000 shares), 4,100,000 pre-funded warrants, and warrants to purchase 30,666,667 shares of common stock (including 4,000,000 common stock warrants issued upon the exercise by the underwriters of their option to purchase such warrants). Each share of common stock with an accompanying common stock warrant was sold for $0.30, and each pre-funded warrant with an accompanying common stock warrant was sold for $0.20, with the amount paid for each accompanying common stock warrant being $0.10. Each pre-funded warrant entitled the holder to purchase one share of common stock for $0.10, was immediately exercisable, subject to certain ownership imitations, and was exercisable at any time until all the pre-funded warrants were exercised in full. Each common stock warrant entitles the holder to purchase one share of common stock for $0.30, is exercisable immediately, subject to certain ownership limitations, and will expire five years from the date of issuance. Pursuant to the terms of an underwriting agreement, the Company paid the underwriters aggregate commissions and reimbursable costs of $713,000. In addition, the Company issued the underwriters' designees 2,115,738 common stock warrants at the closing of the September 2019 Offering, each warrant entitling the holder to purchase one share of common stock for $0.375 at any time within five years of their issuance date. The aggregate fair value of these warrants at issuance was estimated to be $497,000 (see Note 12 ), which was recorded in offering costs. The total gross proceeds from the September 2019 Offering to the Company were $8.7 million. After deducting underwriting discounts, commissions and offering expenses payable by the Company, the aggregate net proceeds received by the Company were $7.7 million. In addition, as of December 31, 2020, the Company had received $0.4 million from the exercise of all 4,100,000 pre-funded warrants, $9.2 million from the exercise of 30,661,667 common stock warrants issued to investors and $0.7 million from the exercise of 1,890,941 common stock warrants issued to underwriters' designees in the September 2019 Offering. On March 2, 2020, the Company completed a registered direct offering (the “March 2020 Offering”) of 4,000,000 shares of the Company's common stock and warrants to purchase 2,000,000 shares of common stock. Each common stock warrant entitles the holder to purchase one share of common stock for $2.50, is exercisable immediately, subject to certain ownership limitations, and will expire five years from the date of issuance. Pursuant to the terms of the engagement letter with the placement agents, the Company paid the placement agents aggregate fees and reimbursable costs of $775,000. In addition, the Company issued the placement agents' designees 280,000 common stock warrants at the closing of the March 2020 Offering, each warrant entitling the holder to purchase one share of common stock for $3.125 at any time within five years of the effective date of the March 2020 Offering. The aggregate fair value of these warrants at issuance was estimated to be $453,000 (see Note 12 ), which was recorded in offering costs. The total gross proceeds from the offering to the Company were $10.0 million. After deducting placement agent fees and offering expenses payable by the Company, the aggregate net proceeds received by the Company totaled $9.2 million. In addition, as of December 31, 2020, the Company had received $4.2 million from the exercise of 1,683,416 common stock warrants issued to investors and 10,504 common stock warrants issued to placement agents' designees in the March 2020 Offering. On June 8, 2020, the Company's shareholders approved an amendment to the Company's certificate of incorporation to change the par value of its common and preferred stock from $0.10 per share to $0.0001 per share and to increase the number of authorized shares of common stock from 100,000,000 to 150,000,000. Except as otherwise noted in these consolidated financial statements, all share, equity security and per share amounts are presented to give retroactive effect to these changes. On July 13, 2020, the Company completed the sale of 12,503,806 shares for gross proceeds of $100.0 million from an at-the-market facility (the “ATM Program”) under a sales prospectus agreement dated July 8, 2020. After deducting sales commissions and expenses, aggregate net cash proceeds under the ATM Program totaled $97.0 million. On October 13, 2020, the Company entered into the Open Market Sale Agreement, (the “Sales Agreement”) pursuant to which it may offer and sell, from time to time through sales agents, shares of its common stock having an aggregate offering price of up to $250 million. The Company incurred direct expenses of approximately $0.3 million in connection with filing a prospectus supplement, dated October 13, 2020, with the SEC, and will pay sales commissions of 4.5% of gross proceeds from the sale of shares. As of December 31, 2020, the Company had sold 692,651 shares for gross proceeds of $5.5 million which, after deducting sales commissions and expenses, resulted in net proceeds to date under the Sales Agreement of $4.9 million. The Company's principal operations are based in South San Francisco, California, and it operates in one reportable segment, which is the discovery and development of oral recombinant protein vaccines, based on its proprietary oral vaccine platform.

Note 2 - Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Significant Accounting Policies [Text Block]

NOTE

Summary of Significant Accounting Policies

Basis of Presentation

– The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Basis of Consolidation

– The consolidated financial statements include the financial statements of Vaxart, Inc. and its subsidiaries. All significant transactions and balances between Vaxart, Inc. and its subsidiaries have been eliminated in consolidation.

Use of Estimates

– The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities in the financial statements and accompanying notes. Actual results and outcomes could differ from these estimates and assumptions.

Foreign Currencies

– Foreign exchange gains and losses for assets and liabilities of the Company's non-U.S. subsidiaries for which the functional currency is the U.S. dollar are recorded in foreign exchange gain or loss, net within other income and (expenses) in the Company's consolidated statements of operations and comprehensive loss. The Company has

subsidiaries for which the local currency is the functional currency.

Cash and Cash Equivalents

– The Company considers all highly liquid debt investments with an original maturity of

three

months or less when purchased to be cash equivalents. Cash equivalents, which

may

consist of amounts invested in money market funds, corporate bonds and commercial paper, are stated at fair value.

Concentration of Credit Risk

– Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash, cash equivalents, short-term investments and accounts receivable. The Company places its cash, cash equivalents and short-term investments at financial institutions that management believes are of high credit quality. The Company is exposed to credit risk in the event of default by the financial institutions holding the cash and cash equivalents to the extent such amounts are in excess of the federally insured limits. The Company has

not

experienced any losses on its deposits since inception.

The primary focus of the Company's investment strategy is to preserve capital and meet liquidity requirements. The Company's investment policy addresses the level of credit exposure by limiting the concentration in any

one

corporate issuer or sector and establishing a minimum allowable credit rating. The Company generally requires

collateral from its customers.

Accounts Receivable

– Accounts receivable arise from the Company's royalty revenue receivable for sales, net of estimated returns, of Inavir and Relenza, and from its contracts with customers and with the Department of Health and Human Services, Office of Biomedical Advanced Research and Development Authority (“HHS BARDA”) (see Note

), and are reported at amounts expected to be collected in future periods. An allowance for uncollectible accounts will be recorded based on a combination of historical experience, aging analysis, and information on specific accounts, with related amounts recorded as a reserve against revenue recognized. Account balances will be written off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company has provided

allowance for uncollectible accounts as of

December 31, 2020

and

2019

Property and Equipment

– Property and equipment is carried at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets. Depreciation begins at the time the asset is placed in service. Maintenance and repairs are charged to operations as incurred. Upon sale or retirement of assets, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in other income and (expenses) in the period realized.

The useful lives of the property and equipment are as follows:

Laboratory equipment (in years)			5
Office and computer equipment (in years)			3
Leasehold improvements			Shorter of remaining lease term or estimated useful life

Intangible Assets

– Intangible assets comprise developed technology, intellectual property and, until it was considered fully impaired (see Note

), in-process research and development. Intangible assets are carried at cost less accumulated amortization. Amortization is computed using the straight-line method over useful lives ranging from

1.3

11.75

years for developed technology and

years for intellectual property. In-process research and development is considered to be indefinite-lived and is

not

amortized, but is subject to impairment testing. The Company assessed its in-process research and development as fully impaired in the year ended

December 31, 2018 (

see Note

Impairment of Long-Lived Assets

– The Company reviews its long-lived assets, including property and equipment and intangible assets with finite lives, for impairment whenever events or changes in circumstances indicate the carrying amount of these assets

may

not

be recoverable. Recoverability of these assets is measured by comparison of the carrying amount of each asset to the future undiscounted cash flows the asset is expected to generate over its remaining life. When indications of impairment are present and the estimated undiscounted future cash flows from the use of these assets is less than the assets' carrying value, the related assets will be written down to fair value. The Company assessed leasehold improvements and furniture at its leased offices in Alpharetta, Georgia as impaired in the year ended

December 31, 2018 (

see Notes

and

). The Company also assessed its manufacturing equipment and its right-of-use asset and leasehold improvements at its manufacturing premises as impaired in the year ended

December 31, 2019 (

see Note

Accrued Clinical and Manufacturing Expenses

– The Company accrues for estimated costs of research and development activities conducted by

third

-party service providers, which include the conduct of preclinical studies and clinical trials, and contract manufacturing activities. The Company records the estimated costs of research and development activities based upon the estimated amount of services provided and includes the costs incurred but

not

yet invoiced within other accrued liabilities in the balance sheets and within research and development expense in the consolidated statements of operations and comprehensive loss. These costs can be a significant component of the Company's research and development expenses.

The Company estimates the amount of services provided through discussions with internal personnel and external service providers as to the progress or stage of completion of the services and the agreed-upon fee to be paid for such services. The Company makes significant judgments and estimates in determining the accrued balance in each reporting period. As actual costs become known, it adjusts its accrued estimates. Although the Company does

not

expect its estimates to be materially different from amounts actually incurred, its understanding of the status and timing of services performed, the number of subjects enrolled, and the rate of enrollment

may

vary from its estimates and could result in the Company reporting amounts that are too high or too low in any particular period. The Company's accrued expenses are dependent, in part, upon the receipt of timely and accurate reporting from contract research organizations and other

third

-party service providers. To date, the Company has

not

experienced any material differences between accrued costs and actual costs incurred.

Leases

– Effective

January 1, 2019,

the Company records operating leases as right-of-use assets and operating lease liabilities in its consolidated balance sheets for all operating leases with terms exceeding

one

year. Right-of-use assets represent the right to use an underlying asset for the lease term, including extension options considered reasonably certain to be exercised, and operating lease liabilities to make lease payments. Right-of-use assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term. To the extent that lease agreements do

not

provide an implicit rate, the Company uses its incremental borrowing rate based on information available at the lease commencement date to determine the present value of lease payments. The expense for operating lease payments is recognized on a straight-line basis over the lease term and is included in operating expenses in the Company's consolidated statement of operations and comprehensive loss. The Company has elected to

not

separate lease and non-lease components of facilities leases, whereas non-lease components of equipment leases are accounted for separately from lease components.

Convertible Preferred Stock Warrant Liability

– The Company has issued certain convertible preferred stock warrants. These warrants were recorded within other accrued liabilities in the consolidated balance sheets at fair value due to down-round protection features contained in the convertible preferred stock into which the warrants were exercisable. At the end of each reporting period, changes in fair value of the warrants since the prior period were recorded as a component of gain or loss on revaluation of financial instruments within other income and (expenses) in the consolidated statements of operations and comprehensive loss. In the event that the terms of the warrant change such that liability accounting is

longer required, the fair value on the date of such change is released to equity.

Revenue Recognition

– The Company recognizes revenue when it transfers control of promised goods or services to its customers, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine revenue recognition, the Company performs the following

five

steps:

(i)

identification of the promised goods or services in the contract;

(ii)

determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract;

(iii)

measurement of the transaction price, including the constraint on variable consideration;

(iv)

allocation of the transaction price to the performance obligations based on estimated selling prices; and

(v)

recognition of revenue when (or as) the Company satisfies each performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account.

Revenue from royalties earned as a percentage of sales, including milestone payments based on achieving a specified level of sales, where a license is deemed to be the predominant item to which the royalties relate, is recognized as revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied), as required under the sales- and usage-based royalty exception.

Revenue from contracts with customers is recognized ratably, based on costs incurred, as the Company provides promised services to its customers in amounts that reflect the consideration that the Company expects to receive for those services.

The Company performed research and development work under its cost-plus-fixed-fee contract with HHS BARDA. The Company recognizes revenue under research contracts only when a contract has been executed and the contract price is fixed or determinable. Revenue from the HHS BARDA contract is recognized in the period during which the related costs are incurred and the related services are rendered, provided that the applicable conditions under the contract have been met. Costs of contract revenue are recorded as a component of operating expenses in the consolidated statements of operations and comprehensive loss.

Under cost reimbursable contracts, the Company recognizes revenue as allowable costs are incurred and the fixed fee is earned. Reimbursable costs under the contract primarily include direct labor, subcontract costs, materials, equipment, travel, and approved overhead and indirect costs. Fixed fees under cost reimbursable contracts are earned in proportion to the allowable costs incurred in performance of the work relative to total estimated contract costs, with such costs incurred representing a reasonable measurement of the proportional performance of the work completed.

Payments to the Company under cost reimbursable contracts, such as this contract, are provisional payments subject to adjustment upon annual audit by the government. Management believes that revenue for periods

not

yet audited has been recorded in amounts that are expected to be realized upon final audit and settlement. When the final determination of the allowable costs for any year has been made, revenue and billings

may

be adjusted accordingly in the period that the adjustment is known.

Research and Development Costs

– Research and development costs are expensed as incurred. Research and development costs consist primarily of salaries and benefits, stock-based compensation, consultant fees,

third

-party costs for conducting clinical trials and the manufacture of clinical trial materials, certain facility costs and other costs associated with clinical trials. Payments made to other entities are under agreements that are generally cancelable by the Company. Advance payments for research and development activities are recorded as prepaid expenses. The prepaid amounts are expensed as the related services are performed.

Stock-Based Compensation

– The Company measures the fair value of all stock-based awards, including stock options, to employees and, since

April 1, 2018,

to nonemployees, on the grant date and records the fair value of these awards, net of estimated forfeitures, to compensation expense over the service period. Prior to

April 1, 2018,

the fair value of awards to nonemployees was measured on the date of performance at the fair value of the consideration received or the fair value of the equity instruments issued, whichever was more reliably measured. The fair value of options is estimated using the Black-Scholes valuation model. The expected term of each option is estimated by taking the arithmetic average of its original contractual term and its average vesting term.

Net Income (Loss) Per Share Attributable to Common Stockholders

– Basic net income (loss) per share is computed by dividing net income (loss), as adjusted for dividends on the Series B and Series C convertible preferred stock in the period, by the weighted average number of common shares outstanding during the period, without consideration of potential common shares.

Diluted net income (loss) per common share is computed giving effect to all potential dilutive common shares, comprising common stock issuable upon exercise of stock options and warrants. The Company uses the treasury-stock method to compute diluted income (loss) per share with respect to its stock options and warrants. For purposes of this calculation, options and warrants to purchase common stock are considered to be potential common shares and are only included in the calculation of diluted net income per share when their effect is dilutive. In the event of a net loss, the effects of all potentially dilutive shares are excluded from the diluted net loss per share calculation as their inclusion would be antidilutive.

Reclassification

Prior year data is subject to reclassification to conform to current year presentation.

Recently Adopted Accounting Pronouncements

The Company did

not

adopt any new accounting policies in fiscal

2020.

Recent Accounting Pronouncements

August

2020,

the FASB issued Accounting Standards Update (ASU)

2020

06,

Debt - Debt with Conversion and Other Options (Subtopic

470

) and Derivatives and Hedging - Contracts in an Entity's Own Equity (Subtopic

815

In addition to simplifying the accounting for certain debt and equity instruments,

none

of which the Company presently has outstanding, this standard update provides guidance on how certain instruments should be treated in the computation of earnings per share. The Company plans to adopt the new guidance effective

January 1, 2021.

Its adoption will have an immaterial impact on the number of shares used in the computation of year-to-date basic and diluted earnings per share.

The Company has reviewed all other significant newly-issued accounting pronouncements that are

not

yet effective and concluded that they are either

not

applicable to its operations or their adoption will

not

have a material impact on its financial position or results of operations.

Note 3 - Business Combination

12 Months Ended

Dec. 31, 2020

Business Combination Disclosure [Text Block]

NOTE

Business Combination

February

13,

2018,

the Company acquired Aviragen in a reverse merger (see Note

). On the date of the Merger, Aviragen had in-process research and development as it was conducting a Phase

trial, it had previously developed drugs that were licensed to others who brought them to market and it had a workforce that was considered to have the necessary skills, knowledge, and experience to perform a process that, when applied to the in-process research and development, was critical to the ability to convert it into outputs. Based on this evaluation, the Company determined that the Merger should be accounted for as a business combination.

Since the date of the Merger, the results of Aviragen's operations have been included in the consolidated financial statements. As a result of the acquisition, the Company eliminated the majority of its debt and acquired a significant cash balance in exchange for equity securities.

The total purchase price for Aviragen is summarized as follows (in thousands):

Common stock	$	31,789

Total	$	31,789

In connection with the Aviragen acquisition, the Company allocated the total purchase consideration to the net assets and liabilities acquired, including identifiable intangible assets, based on their respective fair values at the acquisition date.

The following table summarizes the preliminary allocation of the purchase price to the fair value of the respective assets and liabilities acquired, adjustments made since the acquisition date and the final allocation as of

December 31, 2018 (

in thousands):

	As of February 13, 2018			2018 Adjustments			As of December 31, 2018

Cash and cash equivalents	$	25,525		$	—		$	25,525
Accounts receivable		14,666			—			14,666
Prepaid expenses		446			(10	)		436
Property and equipment		170			—			170
Intangible assets:
Developed technology (1)		22,400			(300	)		22,100
In-process research and development (2)		1,600			—			1,600
Total assets		64,807			(310	)		64,497

Accounts payable		(3,379	)		75			(3,304	)
Other current liabilities		(6,351	)		(393	)		(6,744	)
Liability related to sale of future royalties		(16,300	)		400			(15,900	)
Net assets acquired		38,777			(228	)		38,549

Purchase price		(31,789	)		—			(31,789	)

Bargain purchase gain (3)	$	6,988		$	(228	)	$	6,760

(

)

Developed technology comprises Inavir and Relenza, both influenza vaccines on which the Company is, or was, receiving royalty revenue, which, based on valuations prepared by an independent

third

party based on estimated discounted cash flows based on probability-weighted future development expenditures and revenue streams provided by the Company's management, are being, or has been, amortized on a straight-line basis over the estimated periods of future royalties at the time of the acquisition of

11.75

and

1.3

years, respectively.

(

)

In-process research and development (see Note

) related to teslexivir, or

BTA074,

a direct-acting antiviral that, at the time of the Merger, was being actively developed as a treatment for genital warts. The valuation was prepared by an independent

third

party based on estimated discounted cash flows based on probability-weighted future development expenditures and revenue streams provided by the Company's management.

(

)

The bargain purchase gain represents the excess of the fair value of tangible and identified intangible assets acquired, less liabilities assumed, over the purchase price.

Note 4 - Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Text Block]

NOTE

Fair Value of Financial Instruments

Fair value accounting is applied for all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). Financial instruments include cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities that approximate fair value due to their relatively short maturities.

Assets and liabilities recorded at fair value on a recurring basis in the balance sheets are categorized based upon the level of judgment associated with inputs used to measure their fair values. The accounting guidance for fair value provides a framework for measuring fair value and requires certain disclosures about how fair value is determined. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance also establishes a

three

-level valuation hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based upon whether such inputs are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions made by the reporting entity.

The

three

-level hierarchy for the inputs to valuation techniques is briefly summarized as follows:

Level

– Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date;

Level

– Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are

not

active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and

Level

– Unobservable inputs that are significant to the measurement of the fair value of the assets or liabilities that are supported by little or

market data.

The Company's money market funds are classified within Level

of the fair value hierarchy and are valued based on quoted prices in active markets for identical securities. The Company's convertible preferred stock warrant liability was classified within Level

of the fair value hierarchy as it was valued by using inputs that are unobservable in the market.

The Company's only recurring financial assets that are measured at fair value were

$60,005,000,

$15,000

and

$15,000

held in money market funds and classified as cash equivalents as of

December 31, 2020,

2019

and

2018,

respectively, with

recurring financial liabilities held at any of those dates or in either of the years ended

December 31, 2020

and

2019.

The following table presents a reconciliation of all liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level

) for the year ended

December 31, 2018 (

in thousands):

	Convertible Preferred Stock Warrant Liability			Total

Balance at January 1, 2018	$	67		$	67
Issuances		—			—
Revaluation loss included in loss on revaluation of financial instruments		3			3
Settlements		(70	)		(70	)
Balance at December 31, 2018	$	—		$	—

Total losses included in other income and (expenses) attributable to liabilities still held as of December 31, 2018	$	—		$	—

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 5 - Balance Sheet Components

12 Months Ended

Dec. 31, 2020

Supplemental Balance Sheet Disclosures [Text Block]

NOTE

Balance Sheet Components

(a)

Cash and Cash Equivalents

Cash and cash equivalents comprises the following (in thousands):

	December 31, 2020		December 31, 2019

Cash at banks	$	66,865	$	13,511
Money market funds		60,005		15
Cash and cash equivalents	$	126,870	$	13,526

(b)

Accounts Receivable

Accounts receivable comprises the following (in thousands):

	December 31, 2020		December 31, 2019

Royalties receivable	$	334	$	3,438
Customer service contracts – billed		—		181
Accounts receivable	$	334	$	3,619

(c)

Property and Equipment, Net

Property and equipment, net consists of the following (in thousands):

	December 31, 2020			December 31, 2019

Laboratory equipment	$	1,759		$	537
Office and computer equipment		294			132
Total property and equipment		2,053			669
Less: accumulated depreciation		(573	)		(459	)
Property and equipment, net	$	1,480		$	210

Depreciation expense was

$114,000,

$504,000

and

$476,000

for the years ended

December 31, 2020,

2019

and

2018

, respectively. Property and equipment and leasehold improvements at

one

of the Company's leased premises in California that were used in the Company's manufacturing operations (see Note

) were assessed as impaired as of

December 31, 2019,

and accordingly an impairment charge of

$1,152,000

was recorded as a component of restructuring costs within operating expenses. Leasehold improvements and furniture at the Company's leased premises in Georgia, which has been subleased, commencing in

November 2018,

for less than the rental that the Company is obligated to pay (see Note

), were assessed as impaired as of

September 30, 2018,

and accordingly an impairment charge of

$106,000

was recorded as a component of costs of exit from leased premises within operating expenses.

(d)

Right-of-Use

Assets, Net

Right-of-use assets consist of the following (in thousands):

	December 31, 2020		December 31, 2019

Facilities	$	6,836	$	1,985
Office equipment		2		5
Right-of-use assets, net	$	6,838	$	1,990

The right of use of

one

of the Company's leased premises in California used in the Company's manufacturing operations (see Note

) was assessed as impaired as of

December 31, 2019,

and accordingly an impairment charge of

$120,000

was recorded as a component of restructuring costs within operating expenses.

(e)

Intangible Assets, Net

Intangible assets comprise developed technology, intellectual property and, until it was considered fully impaired, in-process research and development. Intangible assets are carried at cost less accumulated amortization. Amortization is computed using the straight-line method over useful lives ranging from

1.3

11.75

years for developed technology and

years for intellectual property. As of

December 31, 2020,

developed technology and intellectual property had remaining lives of

8.9

and

7.0

years, respectively. Intangible assets consist of the following (in thousands):

	December 31, 2020			December 31, 2019

Purchased technology	$	20,300		$	22,100
Intellectual property		80			80
Total cost		20,380			22,180
Less accumulated amortization		(5,019	)		(5,087	)
Intangible assets, net	$	15,361		$	17,093

Intangible asset amortization expense was

$1,732,000,

$2,320,000

and

$2,727,000

for the years ended

December 31, 2020,

2019

and

2018

, respectively. Following the results of Phase

trials in

June 2018,

the in-process research and development was assessed as fully impaired in the

three

months ended

June

30,

2018,

with the

$1.6

million acquired in the Merger (see Note

) being charged to operating expenses.

As of

December 31, 2020

, the estimated future amortization expense by year is as follows (in thousands):

Year Ending December 31,	Amount
2021	$	1,732
2022		1,731
2023		1,732
2024		1,732
2025		1,731
Thereafter		6,703
Total	$	15,361

(f)

Other Accrued Liabilities

Other accrued liabilities consist of the following (in thousands):

	December 31, 2020		December 31, 2019

Accrued compensation	$	1,618	$	903
Accrued clinical and manufacturing expenses		1,772		3,228
Accrued professional and consulting services		777		2
Reserve for return of royalties		—		178
Other		632		254
Total	$	4,799	$	4,565

Note 6 - Revenue	12 Months Ended
Note 6 - Revenue	Dec. 31, 2020
Notes to Financial Statements
Revenue [Text Block]	NOTE 6. Revenue Service Contracts with Customers Contract Balances. Accounts receivable related to service contracts with customers as of December 31, 2020 and 2019, was nil and $181,000, respectively. Contract assets, representing unbilled receivables where revenue has been recognized in advance of customer billings, as of December 31, 2020 and 2019, was $219,000 and $21,000, respectively, which is included in prepaid expenses and other current assets. Remaining Performance Obligations. Remaining Performance Obligations (“RPO”) comprise deferred revenue plus unbilled contract revenue. As of December 31, 2020 and 2019, there was no deferred revenue and the aggregate amount of RPO was $13,000 and $211,000, respectively, all of which was unbilled contract revenue which is not recorded on the balance sheet. We expect 100% of the balance as of December 31, 2020, to be recognized as revenue within the next three months. Unbilled contract revenue represents non-cancelable contracts under which the Company has an obligation to perform, for which revenue has not yet been recognized in the financial statements and the fixed amounts billable have not yet been invoiced. U.S. Government HHS BARDA Contract In September 2015, HHS BARDA awarded the Company a contract to support the advanced development of a more effective and universal influenza vaccine to improve seasonal and pandemic influenza preparedness. On each of May 25 and July 18, 2017, and June 28, 2018, the Company entered into a Modification of Contract with HHS BARDA, the combined effect being to increase the value of the original $14 million contract by $1.7 million and to extend it through September 30, 2018. The modified contract is a cost-plus-fixed-fee contract, which reimburses the Company for allowable direct contract costs plus allowable indirect costs and a fixed-fee, totaling $15.7 million. The Company recognized revenue of $1,344,000 during the year ended December 31, 2018, of which $20,000 was reversed during the year ended December 31, 2019. As of December 31, 2020 , the cumulative revenue recorded from inception under the HHS BARDA contract represents $20,000 less than the maximum amount billable under the contract as presently modified, with no further change orders envisaged. Billings under the contract are based on approved provisional indirect billing rates, which permit recovery of fringe benefits, overhead and general and administrative expenses. Indirect rates as well as allowable costs are subject to audit by HHS BARDA on an annual basis. Management believes that revenues recognized to date have been recorded in amounts that are expected to be realized upon final audit and settlement. When the final determination of the allowable costs for any year has been made, revenue and billings may be adjusted accordingly in the period that the adjustments are known and collection is probable. Costs relating to contract acquisition are expensed as incurred. In the three months ended December 31, 2019, the Company reversed $20,000 in revenue that was invoiced late in 2018 to correct prior undercharges but which may never be received, and does not consider any of the revenue recorded as of December 31, 2020, to be at risk of reversal. Royalty agreements Aviragen entered into a royalty-bearing research and license agreement with GlaxoSmithKline, plc (“GSK”) in 1990 for the development and commercialization of zanamivir, a neuraminidase inhibitor marketed by GSK as Relenza, to treat influenza. All the Company's Relenza patents have expired, the last remaining intellectual property related to the Relenza patent portfolio, which is solely owned by the Company and exclusively licensed to GSK, having expired in July 2019 in Japan, at which time royalty revenue ceased, although it remained subject to minor adjustments for sales returns and exchange rate differences. Royalty revenue related to Relenza in 2020, 2019, and in the post-Merger period in 2018, was $193,000, $778,000 and $788,000, respectively, representing 7% of net sales in Japan. The Company also generates royalty revenue from the sale of Inavir in Japan, pursuant to a collaboration and license agreement that Aviragen entered into with Daiichi Sankyo Company, Limited (“Daiichi Sankyo”), in 2009. In September 2010, laninamivir octanoate was approved for sale by the Japanese Ministry of Health and Welfare for the treatment of influenza in adults and children, which Daiichi Sankyo markets as Inavir. Under the agreement, the Company currently receives a 4% royalty on net sales of Inavir in Japan. The last patent related to Inavir is set to expire in December 2029 in Japan, at which time royalty revenue will cease. The royalty revenue related to Inavir recognized in 2020, 2019, and in the post-Merger period in 2018, was $2,769,000, $3,668,000 and $552,000, respectively. In addition, the Company recognized non-cash royalty revenue related to sale of future royalties (see Note 7 ) of $886,000, $5,030,000 and $1,475,000 in 2020, 2019 and 2018, respectively. Both the royalty revenue and the non-cash royalty revenue related to sale of future royalties have been subjected to a 5% withholding tax in Japan, for which $183,000, $435,000 and $102,000 was included in income tax expense in the years ended December 31, 2020, 2019 and 2018, respectively.

Note 7 - Liabilities Related to Sale of Future Royalties

12 Months Ended

Dec. 31, 2020

NOTE

Liabilities Related to Sale of Future Royalties

April 2016,

Aviragen entered into a Royalty Interest Acquisition Agreement (the “RIAA”) with HCRP. Under the RIAA, HCRP made a

$20.0

million cash payment to Aviragen in consideration for acquiring certain royalty rights (“Royalty Rights”) related to the approved product Inavir in the Japanese market. The Royalty Rights were obtained pursuant to the collaboration and license agreements (the “License Agreement”) and a commercialization agreement that the Company entered into with Daiichi Sankyo. Per the terms of the RIAA, HCRP is entitled to the

first

$3.0

million plus

15%

of the next

$1.0

million in royalties earned in each year commencing on

April 1,

with any excess revenue being retained by the Company.

Under the relevant accounting guidance, due to a limit on the amount of royalties that HCRP can earn under the RIAA, this transaction was accounted for as a liability that is being amortized using the effective interest method over the life of the arrangement. The Company has

obligation to pay any amounts to HCRP other than to pass through to HCRP its share of royalties as they are received from Daiichi Sankyo. To record the amortization of the liability, the Company is required to estimate the total amount of future royalty payments to be received under the License Agreement and the payments that will be passed through to HCRP over the life of this agreement. Consequently, the Company imputes interest on the unamortized portion of the liability and records non-cash interest expense using an estimated effective interest rate. The royalties earned in each period that will be passed through to HCRP are recorded as non-cash royalty revenue related to sale of future royalties, with any excess

not

subject to pass-through being recorded as royalty revenue. When the pass-through royalties are paid to HCRP in the following quarter, the imputed liability related to sale of future royalties is commensurately reduced. The Company periodically assesses the expected royalty payments, and to the extent such payments are greater or less than the initial estimate, the Company adjusts the amortization of the liability and interest rate. As a result of this accounting, even though the Company does

not

retain HCRP's share of the royalties, it will continue to record non-cash revenue related to those royalties until the amount of the associated liability, including the related interest, is fully amortized.

The following table shows the activity within the liability account during the year ended

December 31, 2020 (

in thousands):

Total liability related to sale of future royalties, start of year	$	16,332
Non-cash royalty revenue paid to HCRP		(3,277	)
Non-cash interest expense recognized		1,874
Total liability related to sale of future royalties, end of year		14,929
Current portion		(2,779	)
Long-term portion	$	12,150

Note 8 - Leases

12 Months Ended

Dec. 31, 2020

Lessee, Operating Leases [Text Block]

NOTE

Leases

The Company has obtained the right of use for office and manufacturing facilities under

six

operating lease agreements,

one

of which has been subleased, and for equipment under an operating lease agreement with an initial term exceeding

one

year, and under

three

operating lease agreements with initial terms of

one

year or less.

The Company obtained the right of use of real estate located in South San Francisco, California, in

November 2020

under a lease that terminates on

September 30, 2025,

with

extension option. The Company also obtained the right of use of real estate located in South San Francisco, California, in

June 2015

that was scheduled to terminate on

April 30, 2020,

with a

five

-year extension option that the Company exercised in

July 2019,

extending the lease until

April 30, 2025.

The right of use of these premises was assessed as partially impaired as of

December 31, 2019 (

see Note

). Further, the Company obtained, via the Merger in

February 2018,

the right of use of facilities located in Alpharetta, Georgia, that terminates on

February 28, 2021,

with

extension option. These facilities were subleased for the remainder of the lease term effective

November 30, 2018.

In addition, the Company has the right of use of

two

facilities located in South San Francisco, California, under leases that terminate on

July 31, 2021,

with

extension options, and the right of use of equipment under a lease that terminates in

September 2021.

Further, the Company has identified an embedded lease for the rental of facilities in Burlingame, California, within a Statement of Work for the manufacture of bulk vaccine product that is expected to be completed early in

2022.

As of

December 31, 2020,

the weighted average discount rate for operating leases with initial terms of more than

one

year was

9.94%

and the weighted average remaining term of these leases was

4.07

years. Discount rates were determined using the Company's marginal rate of borrowing at the time each lease was executed or extended.

The following table summarizes the Company's undiscounted cash payment obligations for its operating lease liabilities with initial terms of more than

twelve

months as of

December 31, 2020 (

in thousands):

Year Ending December 31,	Amount
2021	$	2,633
2022		1,801
2023		1,585
2024		1,641
2025		1,112
Undiscounted total		8,772
Less: imputed interest		(1,564	)
Present value of future minimum payments		7,208
Current portion of operating lease liability		(2,052	)
Operating lease liability, net of current portion	$	5,156

The Company presently has

finance leases and

future obligations under operating leases for equipment with initial terms of

one

year or less.

Certain operating lease agreements for facilities include non-lease costs, such as common area maintenance, which are recorded as variable lease costs. Operating lease expenses for the years ended

December 31, 2020

and

2019,

are summarized as follows (in thousands):

	Year Ended December 31,
	2020			2019
Lease cost
Operating lease cost	$	1,145		$	959
Short-term lease cost		13			15
Variable lease cost		264			162
Sublease income		(217	)		(217	)
Total lease cost	$	1,205		$	919

Net cash outflows associated with operating leases totaled

$1,111,000

and

$983,000

in the years ended

December 31, 2020

and

2019,

respectively.

When the Company subleased its facilities located in Alpharetta, Georgia, for less than it is required to pay under the head lease, it recorded a lease loss charge of

$253,000

on the cease-use date in the

three

months ending

December 31, 2018,

which, along with the related impairment of property and equipment (see Note

), was recorded as a component of costs of exit from leased premises within operating expenses.

Liabilities related to costs of exit from leased premises are summarized as follows (in thousands):

Balance as of January 1, 2018	$	—
Costs of exit from leased premises		359
Deferred rent on cease-use date		19
Impairment of property and equipment		(106	)
Cash paid, net of receipts		(41	)
Accretion charges, included in rent expense		2
Balance as of December 31, 2018	$	233

Prior to

December 31, 2018,

rent expense was recognized on a straight-line basis over the noncancelable term of each operating lease and, accordingly, the Company recorded the difference between cash rent payments and the recognition of rent expense as a deferred rent liability, which was included within accrued expenses. Rent expense was

$875,000

for the year ended

December

31,

2018.

Note 9 - Convertible Promissory Notes, Related Parties	12 Months Ended
Note 9 - Convertible Promissory Notes, Related Parties	Dec. 31, 2020
Notes to Financial Statements
Convertible Promissory Notes, Related Party [Text Block]	NOTE 9. Convertible Promissory Notes, Related Parties On December 10, 2014, the Company entered into a note purchase agreement with certain existing preferred stockholders under which the Company issued convertible promissory notes during December 2014 for total proceeds of $18.4 million. On November 20, 2015, the Company entered into a second note purchase agreement with certain existing preferred stockholders under which the Company issued convertible promissory notes during November and December 2015 for total proceeds of $11.0 million. These notes were issued with the same terms as the notes issued in 2014. As the holders of the convertible promissory notes each had an equity ownership in the Company, the convertible promissory notes were considered to be a related-party transaction. The convertible promissory notes bore interest at a rate of 8.0% per annum. As of December 31, 2017, the balance of the convertible promissory notes was $35.3 million, comprising principal of $29.4 million plus accrued interest associated with the convertible promissory notes of $6.3 million, offset by unamortized debt discount of $0.4 million. Interest expense related to the convertible promissory notes, including amortization of debt discount, totaled $0.3 million in the year ended December 31, 2018, all related to the 43 days prior to the Merger. On February 13, 2018, the balance of the convertible promissory notes was $35.6 million, comprising principal of $29.4 million plus accrued interest of $6.6 million, offset by the unamortized debt discount to $0.4 million. On that date, in conjunction with the Merger, the convertible promissory notes were exchanged for 1,571,702 shares of the Company's common stock which, based on the closing stock price of $9.05, had a value of $14.2 million. The difference of $21.4 million was recorded as a capital contribution.

Note 10 - Secured Promissory Note Payable to Oxford Finance	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Secured Promissory Note Payable [Text Block]	NOTE 10. Secured Promissory Note Payable to Oxford Finance On December 22, 2016, the Company entered into a loan and security agreement (the “Loan Agreement”) with Oxford Finance, under which the Company borrowed $5.0 million. The $5.0 million loan, which bore interest at the 30 -day U.S. LIBOR rate plus 6.17%, was evidenced by a secured promissory note and was repayable over four years, with interest only payable over the first 12 months and the balance fully amortized over the subsequent 36 months. The loan was secured by substantially all the Company's assets, except for intellectual property. In conjunction with the execution of the Loan Agreement, all the holders of convertible promissory notes signed subordination agreements, under which they agreed to subordinate in favor of Oxford Finance all amounts due under their promissory notes and any security interest in the Company's property. In addition, the holders of the notes agreed that they would not demand or receive any payment until all amounts owed to Oxford Finance under the Loan Agreement had been fully paid in cash. Upon repayment, an additional final payment equal to $325,000 would be due, which was accreted as interest expense over the term of the loan using the effective-interest method. In connection with the Loan Agreement, the Company issued a warrant to Oxford Finance to purchase 7,563 shares of its Series C convertible preferred stock at an exercise price of $33.11 per share (the “Warrant”). The fair value of the Warrant at the date of issuance was approximately $134,000 which, along with other initial costs, was recorded as debt discount and was amortized as interest expense over the term of the loan using the effective-interest method. The Warrant provided that if the share price at the next equity financing was less than the Warrant exercise price, then the Warrant would be for the new class of shares, the exercise price would be the new class share price, and the number of shares would be calculated by dividing $250,000 by the new class share price. Due to this anti-dilution protection, the Company determined that the Warrant needed to be recorded as a liability, and therefore estimated the fair value of the Warrant upon issuance and at each balance sheet date, with any changes in the fair value being recorded within loss on revaluation of financial instruments in other income and (expenses) in the consolidated statements of operations and comprehensive loss. Due to the antidilution protection, following the Merger, the Warrant was amended to allow the holder to purchase 10,914 shares of common stock at an exercise price of $22.99 per share. Since the amended Warrant contains no non-standard antidilution protections or similar features, the fair value of approximately $70,000 on February 13, 2018, was reclassified to equity (see Note 4 ). The annual effective interest rate of the note, including the accretion of the final payment and the amortization of the debt discount, was approximately 10.5%. The Company recorded interest expense related to the Loan Agreement of $311,000 and $526,000 during the years ended December 31, 2019 and 2018, respectively, of which $223,000 and $356,000 was paid, respectively. The note was repaid in full on November 4, 2019. At that date, the unamortized deferred financing costs of $98,000 plus $2,000 reimbursed to Oxford Finance for legal fees were expensed as loss on debt extinguishment within other income and (expenses). VAXART, INC. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

Note 11 - Commitments and Contingencies	12 Months Ended
Note 11 - Commitments and Contingencies	Dec. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 11. Commitments and Contingencies (a) Purchase Commitments As of December 31, 2020 , the Company had approximately $24.6 million of non-cancelable purchase commitments, principally for contract manufacturing and clinical services which are expected to be paid within the next eighteen months. In addition, the Company has operating lease commitments as detailed in Note 8 . (b) Indemnifications In the ordinary course of business, the Company enters into agreements that may include indemnification provisions. Pursuant to such agreements, the Company may indemnify, hold harmless and defend indemnified parties for losses suffered or incurred by the indemnified party. Some of the provisions will limit losses to those arising from third -party actions. In some cases, the indemnification will continue after the termination of the agreement. The maximum potential amount of future payments the Company could be required to make under these provisions is not determinable. The Company has also entered into indemnification agreements with its directors and officers that require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers to the fullest extent permitted by Delaware corporate law. The Company currently has directors' and officers' insurance. (c) Litigation From time to time the Company may be involved in legal proceedings arising in connection with its business. Based on information currently available, the Company believes that the amount, or range, of reasonably possible losses in connection with any pending actions against it in excess of established reserves, in the aggregate, is not material to its consolidated financial condition or cash flows. However, any current or future dispute resolution or legal proceeding, regardless of the merits of any such proceeding, could result in substantial costs and a diversion of management's attention and resources that are needed to run the Company successfully, and could have a material adverse impact on its business, financial condition and results of operations. On August 4, 2020, a purported shareholder derivative complaint was filed in the Superior Court of California, San Mateo County, entitled Godfrey v. Latour, et al. An amended complaint was filed on September 4, 2020, and the case was re-named Ennis v. Latour, et al. A second amended complaint was filed on November 25, 2020. The second amended complaint names certain of Vaxart's officers and directors as defendants, asserting claims against them for breach of fiduciary duty, unjust enrichment, and waste and seeking, among other things, an award of unspecified damages, certain equitable relief, and attorneys' fees and costs. The complaint also asserts claims for breach of fiduciary duty, unjust enrichment, and aiding and abetting breach of fiduciary duty against Armistice Capital, LLC (“Armistice”). The claims challenge certain stock options granted to certain of the Company's officers and directors between March 24, 2020 and June 15, 2020 and certain amendments to two warrants held by Armistice, as disclosed on June 8, 2020. The second amended complaint purports to bring the lawsuit derivatively on behalf of and for the benefit of the Company and names the Company as a “nominal defendant” against which no damages are sought. On December 30, 2020, all defendants in the action filed a demurrer with the court addressing the second amended complaint, seeking to have the entire case dismissed. On September 8, 2020, a purported shareholder derivative complaint was filed in the Chancery Court in the State of Delaware, entitled Galjour v. Floroiu, et al. On October 20, 2020, a purported shareholder derivative and class action complaint, entitled Jaquith v. Vaxart, Inc., was filed in the Court of Chancery of the State of Delaware. The complaints name as defendants certain of Vaxart's current and former directors, asserting claims against them for breach of fiduciary duty, unjust enrichment, and waste and seeking, among other things, an award of unspecified damages, certain equitable relief, and attorneys' fees and costs. The complaints also assert claims against Armistice. The complaints challenge certain stock options granted to certain of the Company's officers and directors between March 24, 2020 and June 15, 2020 and certain amendments made to two warrants held by Armistice, as disclosed on June 8, 2020. Both complaints purport to bring suit derivatively on behalf of and for the benefit of the Company, and the Jaquith complaint also purports to assert a direct claim for breach of fiduciary duty on behalf of a class of Vaxart stockholders. Both complaints name the Company as a “nominal defendant” against which no claims are asserted and no damages are sought. On October 9, 2020, all defendants moved to dismiss the Galjour complaint and to stay the action pending disposition of the Ennis action in California. On November 12, 2020, the Galjour and Jaquith actions were consolidated under the caption In re Vaxart, Inc. Stockholder Litigation and the complaint filed in the Jaquith v. Latour action was deemed the operative pleading. On January 4, 2021, all defendants filed motions to dismiss, seeking to have the case dismissed. On September 17, 2020, a purported derivative complaint was filed in the U.S. District Court for the Northern District of California, entitled Stachowski v. Boyd, et al. The complaint names as defendants certain of Vaxart's current directors, asserting claims against them for breach of fiduciary duty and unjust enrichment and seeking, among other things, an award of unspecified damages, certain equitable relief, and attorneys' fees and costs. The complaint also alleges a violation of §14 (a) of the Securities Exchange Act of 1934 for allegedly false statements or omissions in the Company's April 24, 2020, proxy statement regarding the Company's options practices. The complaint also asserts a claim for breach of fiduciary duty against Armistice. The claims are based on allegations that certain stock options granted to certain of the Company's officers and directors between March 24, 2020 and June 15, 2020, were allegedly improper and that certain warrants held by Armistice were amended on June 8, 2020, allegedly for no consideration. The complaint purports to bring the lawsuit derivatively on behalf of and for the benefit of the Company and names the Company as a “nominal defendant” against which no claims are asserted and no damages are sought. On November 13, 2020, plaintiffs voluntarily withdrew their claims and the case was dismissed. Two substantially similar securities class actions were filed in the U.S. District Court for the Northern District of California, the first, titled Himmelberg v. Vaxart, Inc. et al. was filed on August 24, 2020 ( the “Himmelberg Action”), and the second action, titled Hovhannisyan v. Vaxart, Inc. et al. was filed on September 1, 2020 ( the “Hovhannisyan Action,” and together, the “Putative Class Actions”). On September 17, 2020, the court issued an order that the Putative Class Actions were related and would proceed as one consolidated action. On December 9, 2020, the court appointed the lead plaintiffs and lead plaintiffs' counsel and on January 29, 2021, the lead plaintiffs filed their consolidated amended complaint. The consolidated amended complaint names as defendants certain of Vaxart's current and former executive officers and directors, and Armistice. It claims two violations of federal civil securities laws, violation of SEC Rule 10b - 5, as against all defendants; violation of Section 20 (a) of the Exchange Act, as against all defendants except for Vaxart; and violation of Section 20A of the Exchange Act against Armistice. The consolidated amended complaint alleges that the defendants violated securities laws by misstating and omitting information regarding the Company's development of a norovirus vaccine, the vaccine manufacturing capabilities of a business counterparty, as well as the Company's Operation Warp Speed (“ OWS ”) involvement to deceive the investing public and inflate Vaxart's stock price. The consolidated amended complaint seeks to be certified as a class action for similarly situated shareholders and seek, among other things, an uncertain amount of damages and attorneys' fees and costs. On October 23, 2020, a purported shareholder derivative complaint was filed in the U.S. District Court for the Southern District of New York, entitled Roth v. Armistice Capital LLC, et al. The complaint names Armistice and an Armistice-affiliated Company director as defendants, asserting a violation of Exchange Act Section 16 (b) and seeking the disgorgement of short-swing profits obtained in violation thereof. The complaint purports to bring the lawsuit derivatively on behalf of and for the benefit of the Company and names the Company as a “nominal defendant” against which no damages are sought. On January 8, 2021, a purported shareholder, Phillip Chan, commenced a pro se lawsuit in the U.S. District Court for the Northern District of California titled Chan v. Vaxart, Inc. et al. (the “ Opt-Out Action ”). This complaint is nearly identical to an earlier version of the complaint filed in the Putative Class Actions, naming the same defendants, certain of Vaxart's current and former executive officers and directors and Armistice, and asserting identical legal claims relating to the same factual allegations. The complaint asserts two violations of federal civil securities laws, violation of Section 10 (b) of the Exchange Act and SEC Rule 10b - 5, as against all defendants, and violation of Section 20 (a) of the Exchange Act, as against the individual defendants. The Opt-Out Action alleges that the defendants violated securities laws by misstating and omitting information regarding the Company's development of a Covid- 19 vaccine as well as its OWS involvement to deceive the investing public and inflate Vaxart's stock price. On February 4, 2021, a purported shareholder, Stephen Barker, commenced a lawsuit in the Delaware Court of Chancery titled Barker v. Vaxart, Inc. et al . The complaint names as defendants the Company and its current board of directors. The complaint asserts a single claim for declaratory relief seeking a declaration that one of the Company's bylaws, which requires a supermajority vote to remove a Company director from office, is in violation of Delaware General Corporate Law Section 141 (k). It does not seek damages. The Company's legal costs incurred in its defense against these claims are expensed as incurred.

Note 12 - Stockholders' Equity

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note Disclosure [Text Block]

NOTE

12.

Stockholders' Equity

(a)

Convertible Preferred Stock

The Company is authorized to issue

5,000,000

shares of preferred stock,

$0.0001

par value per share. The Company's board of directors

may,

without further action by the stockholders, fix the rights, preferences, privileges and restrictions of up to an aggregate of

5,000,000

shares of preferred stock in

one

or more series and authorize their issuance. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, any or all of which

may

be greater than the rights of our common stock. The issuance of preferred stock could adversely affect the voting power of holders of common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation. In addition, the issuance of preferred stock could have the effect of delaying, deterring or preventing a change of control or other corporate action.

shares of preferred stock are currently outstanding, and the Company has

present plan to issue any shares of preferred stock. Prior to

February 13, 2018,

there were

three

classes of convertible preferred stock outstanding, all of which were converted into common stock in conjunction with the Merger (see Note

). Significant provisions of the convertible preferred stock were as follows:

Series C

– Shares of series C convertible preferred stock were issued in

2013

for net proceeds of

$20.0

million. The holders of Series C convertible preferred stock were entitled to receive non-compounding cumulative dividends, in preference to any dividends payable to holders of Series B and Series A convertible preferred stock or common stock, at an annual dividend rate of

8%.

Dividends accumulated from the date of issuance and were payable, whether or

not

declared, before any dividend on Series B and Series A convertible preferred stock or common stock could be paid or declared. Since

dividends were ever declared, holders were entitled to receive additional shares of common stock on conversion. As of

February 13, 2018,

when the convertible preferred stock was converted into common stock, accumulated and undeclared dividends for Series C convertible preferred stock were

$7.3

million, of which

$188,000

related to the pre-Merger period in

2018.

February 13, 2018,

in conjunction with the Merger, the Series C convertible preferred stock and the related accumulated dividends were converted into

696,028

and

253,851

shares of common stock, respectively.

Series B

– Shares of series B convertible preferred stock were issued between

2009

and

2014

for net proceeds of

$16.0

million. The holders of Series B convertible preferred stock were entitled to receive non-compounding cumulative dividends, in preference to any dividends payable to holders of Series A convertible preferred stock or common stock, at the annual dividend rate of

8%.

Dividends accumulated from the date of issuance and were payable, whether or

not

declared, before any dividend on Series A convertible preferred stock or common stock could be paid or declared. Since

dividends were ever declared, holders were entitled to receive additional shares of common stock on conversion. As of

February 13, 2018,

when the convertible preferred stock was converted into common stock, accumulated and undeclared dividends for Series B convertible preferred stock were

$7.6

million, of which

$151,000

related to the pre-Merger period in

2018.

February 13, 2018,

in conjunction with the Merger, the Series B convertible preferred stock and the related accumulated dividends were converted into

599,259

and

265,340

shares of common stock, respectively.

Series A

– Shares of series A convertible preferred stock were issued between

2007

and

2012

for net proceeds of

$2.9

million. The holders of Series A convertible preferred stock were entitled to receive noncumulative dividends, in preference to any dividends payable to holders of common stock, if declared by the board of directors.

dividends were ever declared. On

February 13, 2018,

in conjunction with the Merger, the Series A convertible preferred stock was converted into

104,065

shares of common stock.

(b)

Common Stock

Except as otherwise required by law or as otherwise provided in any certificate of designation for any series of preferred stock, the holders of common stock possess all voting power for the election of the Company's directors and all other matters requiring stockholder action. Holders of common stock are entitled to

one

vote per share on matters to be voted on by stockholders. Holders of common stock are entitled to receive such dividends, if any, as

may

be declared from time to time by the Company's board of directors in its discretion out of funds legally available therefore. In

event will any stock dividends or stock splits or combinations of stock be declared or made on common stock unless the shares of common stock at the time outstanding are treated equally and identically. As of

December 31, 2020

dividends had been declared by the board of directors.

In the event of the Company's voluntary or involuntary liquidation, dissolution, distribution of assets or winding-up, the holders of the common stock will be entitled to receive an equal amount per share of all the Company's assets of whatever kind available for distribution to stockholders, after the rights of the holders of the preferred stock have been satisfied. There are

sinking fund provisions applicable to the common stock.

The Company had shares of common stock reserved for issuance as follows:

	December 31, 2020		December 31, 2019

Options issued and outstanding		6,813,033		1,811,652
Available for future grants of equity awards		1,230,863		295,180
Common stock warrants		1,244,974		43,370,162
Total		9,288,870		45,476,994

(c)

Warrants

The Company has the following warrants outstanding as of

December 31, 2020

, all of which contain standard anti-dilution protections in the event of subsequent rights offerings, stock splits, stock dividends or other extraordinary dividends, or other similar changes in the Company's common stock or capital structure, and

none

of which have any participating rights for any losses:

Securities into which warrants are convertible	Warrants outstanding		Exercise Price		Expiration Date

Common Stock		5,000	$	0.30	September 2024
Common Stock		224,797	$	0.375	September 2024
Common Stock		225,966	$	1.10	April 2024
Common Stock		111,931	$	1.375	April 2024
Common Stock		316,584	$	2.50	March 2025
Common Stock		269,496	$	3.125	February 2025
Common Stock		80,286	$	3.125	March 2024
Common Stock		10,914	$	22.99	December 2026
Total		1,244,974

The aggregate fair value at issuance of the warrants issued to the placement agents' designees at the closing of the

March 2019

Offering and the

March 2020

Offering and to the underwriters' designees at the closing of the

April 2019

Offering and the

September 2019

Offering (see Note

) were estimated to be

$100,000,

$453,000,

$333,000

and

$497,000,

respectively, using the Black-Scholes valuation model and using parameters and assumptions tabulated as follows:

Offering	March 2019			April 2019			September 2019			March 2020
Aggregate valuation on issuance date	$	100,000		$	333,000		$	497,000		$	453,000
Number of warrants issued		84,000			636,364			2,115,738			280,000
Exercise price	$	3.125		$	1.375		$	0.375		$	3.125
Closing stock price	$	2.08		$	0.89		$	0.36		$	2.34
Risk-free interest rate		2.34	%		2.31	%		1.55	%		0.88	%
Expected term (In Years)		5.00			5.00			5.00			4.99
Expected volatility		80	%		83	%		83	%		98	%
Dividend yield		—	%		—	%		—	%		—	%

In the event of a Fundamental Transaction (a transfer of ownership of the Company as defined in the warrant) within the Company's control, the holders of the unexercised common stock warrants exercisable for

$0.30,

$0.375,

$1.10

and

$2.50

and those exercisable for

$3.125

expiring in

February 2025

shall be entitled to receive cash consideration equal to a Black-Scholes valuation, as defined in the warrant. If such Fundamental Transaction is

not

within the Company's control, the warrantholders would only be entitled to receive the same form of consideration (and in the same proportion) as the holders of the Company's common stock, hence these warrants are classified as a component of permanent equity.

Note 13 - Equity Incentive Plans

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Text Block]

NOTE

13.

Equity Incentive Plans

Prior to the Merger, Private Vaxart issued equity awards for compensation purposes to employees, directors and consultants under the Company's

2007

Equity Incentive Plan (the

“2007

Plan”). The

2007

Plan expired in

July 2017

and

further awards

may

be made under the

2007

Plan. Each outstanding stock option to acquire shares of Private Vaxart stock, whether vested or unvested, was assumed in the Merger after adjustment for the impact of the Conversion and the Reverse Stock Split.

November 2016,

Aviragen's stockholders approved the

2016

Equity Incentive Plan (

“2016

Plan”), under which all outstanding awards under their previous plans became available for issuance under the

2016

Plan if such awards are forfeited or otherwise terminated. Under the

2016

Plan, the Company was authorized to issue incentive stock options (“ISOs”), non-qualified stock options (“NQSOs”), restricted stock (“RSAs”) and restricted stock units (“RSUs”). Awards have a maximum term of

ten

years from the grant date and vest over varying periods, as specified by the Company's board of directors for each grant. Following stockholder approval of the

2019

Equity Incentive Plan (the

“2019

Plan”),

further awards are available for grant under the

2016

Plan.

April 23, 2019,

the Company's stockholders approved the adoption of the

2019

Plan, under which the Company is authorized to issue ISOs, NQSOs, stock appreciation rights, RSAs, RSUs, other stock awards and performance awards that

may

be settled in cash, stock, or other property. The

2019

Plan is designed to secure and retain the services of employees, directors and consultants, provide incentives for the Company's employees, directors and consultants to exert maximum efforts for the success of the Company and its affiliates, and provide a means by which employees, directors and consultants

may

be given an opportunity to benefit from increases in the value of the Company's common stock.

The aggregate number of shares of common stock authorized for issuance under the

2019

Plan was initially

1,600,000

shares, which was increased through an amendment to the

2019

Plan adopted by the Company's stockholders on

June 8, 2020,

8,000,000

(the “Plan Amendment”), subject to standard adjustments in the event of a stock split, stock dividend or other extraordinary dividend, or other similar change in the Company's common stock or capital structure. Further amendments to the

2019

Plan to increase the share reserve would require stockholder approval. Awards that expire or are canceled generally become available for issuance again under the

2019

Plan. Awards have a maximum term of

ten

years from the grant date and

may

vest over varying periods, as specified by the Company's board of directors for each grant.

A summary of stock option transactions in each of the

three

years ended

December 31, 2020

, is as follows:

							Weighted
	Shares			Number of			Average
	Available			Options			Exercise
	For Grant			Outstanding			Price

Balance at January 1, 2018		—			304,850		$	9.50
Assumed on consummation of Merger		291,102			627,106		$	26.33
Granted		(431,100	)		431,100		$	5.17
Exercised		—			(2,013	)	$	6.49
Forfeited		71,500			(89,903	)	$	5.90
Canceled		269,148			(405,977	)	$	34.64

Balance at December 31, 2018		200,650			865,163		$	8.13

Authorized under 2019 Plan on Adoption		1,600,000			—		$	—
Removed from 2016 Plan		(223,389	)		—		$	—
Granted		(1,791,030	)		1,791,030		$	0.67
Forfeited		483,849			(592,528	)	$	1.57
Canceled		25,100			(252,013	)	$	9.25

Balance at December 31, 2019		295,180			1,811,652		$	2.74

Authorized under 2019 Plan Amendment		6,400,000			—		$	—
Granted		(5,579,800	)		5,579,800		$	2.66
Exercised		—			(414,676	)	$	1.45
Forfeited		105,910			(105,992	)	$	1.65
Canceled		9,573			(57,751	)	$	10.57

Balance at December 31, 2020		1,230,863			6,813,033		$	2.70

As of

December 31, 2020

, there were

6,813,033

options outstanding with a weighted average exercise price of

$2.70,

a weighted average remaining term of

8.99

years and an aggregate intrinsic value of

$22.5

million. Of these options,

6,502,213

were expected to vest, with a weighted average exercise price of

$2.68,

a weighted average remaining term of

8.97

years and an aggregate intrinsic value of

$21.6

million. Of these,

2,886,541

were vested, with a weighted average exercise price of

$2.65,

a weighted average remaining term of

8.65

years and an aggregate intrinsic value of

$9.9

million.

The aggregate intrinsic value represents the total pre-tax value (i.e., the difference between the Company's stock price and the exercise price) of stock options outstanding as of

December 31, 2020

, based on our common stock closing price of

$5.71,

which would have been received by the option holders had all their in-the-money options been exercised as of that date.

The intrinsic value of options exercised in the year ended

December 31, 2020

, was

$2.2

million. There were

options exercised in the year ended

December 31, 2019

. The intrinsic value of options exercised in the year ended

December 31, 2018,

was

zero

March 2020,

the Company granted

411,000

performance-based restricted stock unit (“PRSU”) awards to employees which would vest upon the achievement of certain performance conditions by

December 31, 2020,

subject to each employee's continued service relationship with the Company. The related compensation cost, based on the grant date fair value of the Company's common stock of

$1.70

multiplied by the number of PRSUs granted, was recognized as an expense ratably over the estimated vesting period when achievement of the performance condition was considered probable. Based on the Company's evaluation of the probability of achieving the performance condition as of

September 30, 2020,

the Company recognized

$632,000

of related expense during the

nine

months ended

September 30,

2020.

As of

December 31, 2020,

the performance condition had

not

been achieved so these

411,000

PRSUs were canceled and the expense was reversed.

March 24, 2020,

the board of directors of the Company approved the grant of an aggregate of

2,610,000

options with an exercise price of

$1.70

per share (the closing price of the Company's common stock on

March 24, 2020) (

the

“March

Option Awards”), which vests as to

25%

of the underlying shares of common stock on the date of grant and thereafter in

twenty-four

(

) equal monthly installments from

May 1, 2020

until

April 1, 2022;

provided that the stock options were

not

exercisable until the approval by the stockholders of the Plan Amendment. On

June 8, 2020,

the stockholders approved the Plan Amendment and at such time the

March

Option Awards became exercisable, subject to the vesting schedule noted previously.

June 15, 2020,

the Company awarded

900,000

performance-based options and

845,280

time-based options with an exercise price of

$2.46

per share (the closing price of the Company's common stock on the grant date) to its new Chief Executive Officer. Vesting of the time-based options will be as follows:

25%

on the

first

anniversary of the grant date and

75%

in equal monthly installments over the

three

-year period commencing on such

first

anniversary, with accelerated vesting with respect to

50%

of any then-unvested option shares upon a substantial strategic agreement, as determined by the Board, and with accelerated vesting in full in the event of a “Change in Control” (as defined under the

2019

Plan).

Vesting of the performance-based options would occur if the Company achieved a specified closing price during any

ten

consecutive trading days by

November 30, 2020,

with

one

third

based on a closing price of

$5.00,

one

third

based on a closing price of

$7.50

and

one

third

based on a closing price of

$10.00,

subject to continuing employment. Utilizing a Monte Carlo Simulation and assumptions of the fair value of Common Stock of

$2.46,

estimated volatility of

105%,

a risk-free interest rate of

0.35%,

zero

dividend rate and an expected term of

5.23

years, the Company determined the weighted average fair value of these options on the issuance date to be

$0.31

per share, or

$279,000,

which was initially being expensed over the estimated vesting term, assuming vesting occurs by

November 30, 2020,

for each tranche. The tranches based on closing prices of

$5.00,

$7.50

and

$10.00

vested on

July 9, 2020,

July 20, 2020

and

July 24, 2020,

respectively, so the unamortized balance as of

June 30, 2020,

was expensed in the

three

months ended

September 30, 2020.

Excluding these performance-based options, the weighted average grant date fair value of options awarded in the years ended

December 31, 2020,

2019

and

2018

, was

$2.49,

$0.48

and

$3.59,

respectively. Fair values were estimated using the following assumptions:

	Year Ended December 31,
	2020	2019	2018

Risk-free interest rate	0.40% - 0.88%	1.68% - 2.31%	2.79% - 2.80%
Expected term (in years)	5.22 - 10.00	5.39 - 10.00	5.84 - 6.05
Expected volatility	94% - 111%	83% - 85%	78% - 80%
Dividend yield	—%	—%	—%

The Company measures the fair value of all stock-based awards on the grant date and records the fair value of these awards, net of estimated forfeitures, to compensation expense over the service period. Total stock-based compensation recognized for options was as follows (in thousands):

	Year Ended December 31,
	2020		2019		2018

Research and development	$	1,563	$	253	$	254
General and administrative		2,795		374		285
Total stock-based compensation	$	4,358	$	627	$	539

As of

December 31, 2020

, the unrecognized stock-based compensation cost related to outstanding stock options that are expected to vest was

$8.2

million, which the Company expects to recognize over an estimated weighted average period of

2.31

years.

Note 14 - Related Party Transactions	12 Months Ended
Note 14 - Related Party Transactions	Dec. 31, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 14. Related Party Transactions In April 2020, the Company recorded a net amount of $652,000 related to the disgorgement of stockholder short-swing profits under Section 16 (b) of the Securities Exchange Act of 1934, as amended. The Company recognized these related party proceeds as an increase to contributed capital on the consolidated balance sheet.

Note 15 - Restructuring Charges and (Reversals)

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities Disclosure [Text Block]

NOTE

15.

Restructuring Charges and (Reversals)

Restructuring liabilities primarily consisted of the estimated future obligations for contract suspension costs and severance and benefits obligations. These restructuring liabilities, all of which were paid in the year ending

December 31, 2020,

were recorded in either accounts payable or other accrued liabilities in the consolidated balance sheets.

The Company approved a reduction-in-force during the year ended

December 31, 2019,

for which it accrued severance and benefits charges, all of which were paid in the

three

months ended

March 31, 2020.

The Company also accrued the maximum amount potentially payable under a manufacturing work order which it suspended. Following negotiations with the vendor, the Company paid

$2,252,000

September

2020

in full settlement and reversed the remainder of the balance accrued. Further, the Company recorded impairment charges against property and equipment and right-of-use assets formerly used for manufacturing covering the period in which

benefits were expected to be derived, and incurred legal fees and accretion costs in connection with the restructuring. In the year ended

December 31,

2020,

the Company recorded costs for legal fees and for accretion related to the manufacturing premises. The Company does

not

expect to incur any further charges related to this restructuring.

Cumulative restructuring costs incurred and a reconciliation of the change in related liabilities during the years ended

December 31, 2019

and

2020,

is as follows (in thousands):

	Suspension			Severance			Impairment
	of Contract			Benefits			Charges			Other			Total

Cumulative cost incurred as of December 31, 2020	$	2,252		$	368		$	1,272		$	179		$	4,071

Reconciliation of liabilities:
Balance at January 1, 2019	$	—		$	—		$	—		$	—		$	—
Period charges		3,223			368			1,272			57			4,920
Settlements		—			—			(1,272	)		—			(1,272	)
Balance at December 31, 2019		3,223			368			—			57			3,648

Period charges		—			—			—			122			122
Period reversals		(971	)		—			—			—			(971	)
Settlements		(2,252	)		(368	)		—			(179	)		(2,799	)
Balance at December 31, 2020	$	—		$	—		$	—		$	—		$	—

Note 16 - Benefit Plan	12 Months Ended
Note 16 - Benefit Plan	Dec. 31, 2020
Notes to Financial Statements
Retirement Benefits [Text Block]	NOTE 16. Benefit Plan The Company provides a tax-qualified employee savings and retirement plan commonly known as a 401 (k) plan (the “Plan”), which covers the Company's eligible employees. Pursuant to the Plan, employees may elect to defer their current compensation up to the IRS annual contribution limit of $19,500 for calendar year 2020, up from $19,000 for 2019 and $18,500 for 2018. Employees age 50 or over may elect to contribute an additional $6,500 annually, up from $6,000 for 2019 and 2018. Employees direct their contributions, which vest immediately, across a series of mutual funds. In the years ended December 31, 2020, 2019 and 2018, the Company matched employee contributions up to 3% of each employee's eligible earnings, vesting immediately. The Company's matching contributions totaled $96,000, $140,000 and $124,000 in the years ended December 31, 2020, 2019 and 2018, respectively. The costs of administering the Plan totaled $10,000, $14,000 and $9,000 in the years ended December 31, 2020, 2019 and 2018, respectively.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Note 17 - Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Text Block]

NOTE

17.

Income Taxes

The provision for income taxes consists of the following (in thousands):

	Year Ended December 31,
	2020		2019		2018

Current:
Federal	$	—	$	—	$	—
State		3		2		3
Foreign		235		488		106

Total Current		238		490		109

Deferred:
Federal		—		—		—
State		—		—		—
Foreign		—		—		—

Total Deferred		—		—		—

Provision for income taxes	$	238	$	490	$	109

The components of the deferred tax assets are as follows (in thousands):

	December 31, 2020			December 31, 2019			December 31, 2018
Deferred tax assets:
Net operating loss carry-forwards	$	14,161		$	6,924		$	43,822
Research and development tax credits		2,497			1,591			3,357
Capitalized research and development		4,534			4,773			2,326
Sale of future royalties		7,178			7,486			8,383
Lease Liability		1,695			492			—
Accruals, reserves and other		1,327			1,253			714
Total deferred tax assets		31,392			22,519			58,602
Valuation allowance		(21,952	)		(13,365	)		(48,626	)
Deferred tax assets net of valuation allowance		9,440			9,154			9,976
Deferred tax liabilities:
Intangible assets		(7,832	)		(8,730	)		(9,976	)
Right-of-use assets		(1,608	)		(424	)		—
Total deferred tax liabilities		(9,440	)		(9,154	)		(9,976	)

Net deferred tax assets	$	—		$	—		$	—

A reconciliation of the provision for income taxes with the expected provision for income taxes computed by applying the federal statutory income tax rate of

21%

to the net loss before provision for income taxes:

	Year Ended December 31,
	2020			2019			2018

U.S. federal taxes at statutory rate		21.0	%		21.0	%		21.0	%
State taxes (net of federal benefit)		2.9			0.4			0.6
Foreign rate differential		(0.7	)		(2.6	)		3.1
Global intangible low-taxed income		—			—			(8.8	)
Permanently non-deductible items		2.2			(3.7	)		(2.5	)
Tax credits		2.8			1.7			2.1
Change in valuation allowance		(26.8	)		194.2			(20.4	)
Tax attributes write-off due to change in control		0.5			(208.3	)		—
Prior year true-up		(2.5	)		(0.9	)		—
NOL and credit adjustments		—			—			(3.8	)
Bargain purchase gain		—			—			8.1
Other		(0.1	)		(4.5	)		—

Provision for income taxes		(0.7	)%		(2.7	)%		(0.6	)%

The Company's actual tax expense differed from the statutory federal income tax expense using a tax rate of

21%

for the year ended

December 31, 2019,

primarily due to the write-off of tax attributes due to a change in control. In addition, in each of the years ended

December 31, 2020,

2019

and

2018

, significant reasons for the difference between the actual tax rate and the federal rate of

21%

were the write-off of tax attributes due to foreign income taxes being taxed at different rates, nondeductible expenses, research and development tax credits and the change in valuation allowance.

As of

December 31, 2020,

2019

and

2018

, the Company had a net operating loss (“NOL”) carryforwards of

$51.6

million,

$18.0

million and

$92.3

million for federal purposes, and

$26.8

million,

$1.6

million and

$76.9

million for state purposes, respectively. If

not

utilized, these carryforwards will begin to expire in

2024

for federal, and

2028

for state purposes. The reductions in carryforwards in

2019

were primarily due to a change in ownership.

As of

December 31, 2020

, the Company also has accumulated tax losses of

$6.8

million for Australia available for carry forward against future earnings, which under relevant tax laws do

not

expire but

may

not

be available under certain circumstances. As of

December 31, 2020

, the Company's foreign subsidiaries have

positive accumulated earnings. As such,

federal or state income taxes have been provided on the losses of its foreign subsidiaries. If in the future there are positive earnings generated from the Company's foreign subsidiaries, the Company will evaluate whether to record any applicable federal and state income taxes on such earnings.

As of

December 31, 2020,

2019

and

2018

, the Company had federal research and development tax credit carryforwards of

$0.9

million,

$0.1

million and

$3.0

million, respectively and state research and development tax credit carryforwards of

$3.4

million,

$2.7

million and

$2.3

million, respectively, before offset for unrecognized tax benefits, to offset future income tax liabilities. The federal research and development tax credits will expire in

2039,

not

utilized, while the state research and development tax credit can be carried forward indefinitely.

Sections

382

and

383

of the Internal Revenue Code provide for a limitation on the annual use of NOL and tax credit carryforwards following certain ownership changes that could limit the Company's ability to utilize these carryforwards. The Company's losses and credit carryforwards

may

be subject to these limitations. The Company has completed an analysis covering the period from

February 13, 2018,

through

December 31, 2020,

to determine if such ownership changes have occurred and concluded it was more likely than

not

that there were changes in ownership, including a change on

September 30, 2019,

which resulted in an annual limitation of

$62,000,

and on

May 15, 2020,

for which the annual limitation is

$3.2

million. Due to the existence of the valuation allowance, limitations under Section

382

and

383

will

not

impact the Company's effective tax rate. Further analyses will be performed prior to recognizing the benefits of any losses or credits in the financial statements.

The Company is required to reduce its deferred tax assets by a valuation allowance if it is more likely than

not

that some or all of its deferred tax assets will

not

be realized. Management must use judgment in assessing the potential need for a valuation allowance, which requires an evaluation of both negative and positive evidence. The weight given to the potential effect of negative and positive evidence should be commensurate with the extent to which it can be objectively verified. In determining the need for and amount of the valuation allowance, if any, the Company assesses the likelihood that it will be able to recover its deferred tax assets using historical levels of income, estimates of future income and tax planning strategies. As a result of historical cumulative losses, the Company determined that, based on all available evidence, there was substantial uncertainty as to whether it will recover recorded net deferred taxes in future periods. Accordingly, the Company recorded a valuation allowance against all its net deferred tax assets as of

December 31, 2020,

2019

and

2018

. The net change in total valuation allowance was an increase of approximately

$8.6

million for the year ended

December 31, 2020,

a decrease of approximately

$35.3

million for the year ended

December 31, 2019

and an increase of approximately

$25.7

million for the year ended

December 31, 2018.

The decrease in

2019

is primarily due to the reduction in NOL and tax credit carryforwards that were triggered by the change in ownership on

September 30, 2019.

The Company records unrecognized tax benefits, where appropriate, for all uncertain income tax positions. The Company recorded unrecognized tax benefits for uncertain tax positions of approximately

$1.3

million as of

December 31, 2020

none

of which would impact the effective tax rate, if recognized, because the benefit would be offset by an increase in the valuation allowance.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	Year Ended December 31,
	2020			2019			2018

Beginning Balance	$	851		$	1,582		$	1,404
Additions based on tax positions related to the current year		431			159			181
Decreases related to prior years' tax positions		(1	)		(890	)		(3	)

Ending Balance	$	1,281		$	851		$	1,582

The Company's policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. During the years ended

December 31, 2020,

2019

and

2018

, the Company recognized

interest and penalties associated with unrecognized tax benefits. There are

tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within

twelve

months of the reporting date.

The Company files income tax returns in the U.S. and Australia, as well as with various U.S. states. The Company is subject to tax audits in all jurisdictions in which it files income tax returns. Tax audits by their very nature are often complex and can require several years to complete. There are currently

tax audits that have commenced with respect to income tax returns in any jurisdiction.

Under the tax statute of limitations applicable to the Internal Revenue Code, the Company and its U.S. subsidiary, either standalone or as part of the consolidated group, is

longer subject to U.S. federal income tax examinations by the Internal Revenue Service for tax years before tax year

2017.

Under the statute of limitations applicable to most state income tax laws, the Company is

longer subject to state income tax examinations by tax authorities for tax years before

2016

in states in which it has filed income tax returns. However, because the Company is carrying forward income tax attributes, such as net operating losses and tax credits, from earlier tax years, these attributes can still be audited when utilized on returns filed in the future. The Company is subject to foreign tax examinations by tax authorities for fiscal year

2015

and forward.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Note 18 - Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Text Block]

NOTE

18.

Net Loss Per Share Attributable to Common Stockholders

The following table presents the calculation of basic and diluted net loss per share (in thousands, except share and per share amounts):

	Year Ended December 31,
	2020			2019			2018

Net loss	$	(32,220	)	$	(18,645	)	$	(18,007	)

Series B and C preferred dividend		—			—			(339	)

Net loss attributable to common stockholders	$	(32,220	)	$	(18,645	)	$	(18,346	)

Shares used to compute net loss per share, basic and diluted		88,295,762			21,569,523			6,316,065

Net loss per share attributable to common stockholders, basic and diluted	$	(0.36	)	$	(0.86	)	$	(2.90	)

adjustment has been made to the net loss attributable to common stockholders as the effect would be anti-dilutive due to the net loss.

The following potentially dilutive securities were excluded from the computation of diluted weighted average shares outstanding because they would have been antidilutive:

	Year Ended December 31,
	2020		2019		2018

Options to purchase common stock		4,409,806		1,583,575		839,396

Warrants to purchase common stock		14,773,425		17,579,945		9,658

Warrant to purchase convertible preferred stock		—		—		891

Series B and C convertible preferred stock outstanding, including cumulative dividends		—		—		213,760

Series A convertible preferred stock outstanding		—		—		12,260

Convertible promissory notes, related party (as converted)		—		—		185,159

Total potentially dilutive securities excluded from denominator of the diluted earnings per share computation		19,183,231		19,163,520		1,261,124

Note 19 - Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information [Text Block]

NOTE

19.

Quarterly Financial Data (Unaudited)

Selected summarized quarterly financial information for each of the last

three

fiscal years is as follows (in thousands):

	Year Ended December 31, 2020
	First			Second			Third			Fourth

Revenue	$	2,902		$	523		$	265		$	356
Operating expenses	$	3,596		$	9,049		$	7,854		$	13,717
Net loss	$	(1,297	)	$	(8,977	)	$	(8,085	)	$	(13,861	)
Net loss per share – basic and diluted	$	(0.02	)	$	(0.12	)	$	(0.08	)	$	(0.13	)

	Year Ended December 31, 2019
	First			Second			Third			Fourth

Revenue	$	5,407		$	85		$	454		$	3,916
Operating expenses	$	5,855		$	5,082		$	5,168		$	9,542
Net loss	$	(1,339	)	$	(5,637	)	$	(5,260	)	$	(6,409	)
Net loss per share – basic and diluted	$	(0.18	)	$	(0.39	)	$	(0.32	)	$	(0.13	)

	Year Ended December 31, 2018
	First		Second			Third			Fourth

Revenue	$	1,503	$	608		$	281		$	1,767
Operating expenses	$	5,418	$	8,383		$	6,161		$	5,953
Net income (loss)	$	2,314	$	(8,871	)	$	(6,548	)	$	(4,902	)
Net income (loss) attributable to common stockholders	$	1,975	$	(8,871	)	$	(6,548	)	$	(4,902	)
Net income (loss) per share – basic	$	0.54	$	(1.24	)	$	(0.92	)	$	(0.69	)
Net income (loss) per share – diluted	$	0.49	$	(1.24	)	$	(0.92	)	$	(0.69	)

Note 20 - Subsequent Events	12 Months Ended
Note 20 - Subsequent Events	Dec. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 20. Subsequent Events Since December 31, 2020, the Company has issued 6,654,367 shares of common stock under the Sales Agreement (see Note 1 ) for net proceeds totaling $65.8 million and has issued 830,722 shares of common stock upon the exercise of warrants for cash proceeds totaling $1.6 million. Changes in the status of litigation since December 31, 2020, are included in “Note 11. Commitments and Contingencies—(c) Litigation ”.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

– The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Consolidation, Policy [Policy Text Block]

Basis of Consolidation

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currencies

subsidiaries for which the local currency is the functional currency.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

– The Company considers all highly liquid debt investments with an original maturity of

three

months or less when purchased to be cash equivalents. Cash equivalents, which

may

consist of amounts invested in money market funds, corporate bonds and commercial paper, are stated at fair value.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentration of Credit Risk

not

experienced any losses on its deposits since inception.

one

corporate issuer or sector and establishing a minimum allowable credit rating. The Company generally requires

collateral from its customers.

Receivable [Policy Text Block]

Accounts Receivable

allowance for uncollectible accounts as of

December 31, 2020

and

2019

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

The useful lives of the property and equipment are as follows:

Laboratory equipment (in years)			5
Office and computer equipment (in years)			3
Leasehold improvements			Shorter of remaining lease term or estimated useful life

Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]

Intangible Assets

– Intangible assets comprise developed technology, intellectual property and, until it was considered fully impaired (see Note

), in-process research and development. Intangible assets are carried at cost less accumulated amortization. Amortization is computed using the straight-line method over useful lives ranging from

1.3

11.75

years for developed technology and

years for intellectual property. In-process research and development is considered to be indefinite-lived and is

not

amortized, but is subject to impairment testing. The Company assessed its in-process research and development as fully impaired in the year ended

December 31, 2018 (

see Note

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Impairment of Long-Lived Assets

may

not

December 31, 2018 (

see Notes

and

). The Company also assessed its manufacturing equipment and its right-of-use asset and leasehold improvements at its manufacturing premises as impaired in the year ended

December 31, 2019 (

see Note

Accrued Clinical And Manufacturing Expenses Policy [Policy Text Block]

Accrued Clinical and Manufacturing Expenses

– The Company accrues for estimated costs of research and development activities conducted by

third

not

may

third

-party service providers. To date, the Company has

not

experienced any material differences between accrued costs and actual costs incurred.

Lessee, Leases [Policy Text Block]

Leases

– Effective

January 1, 2019,

the Company records operating leases as right-of-use assets and operating lease liabilities in its consolidated balance sheets for all operating leases with terms exceeding

one

not

separate lease and non-lease components of facilities leases, whereas non-lease components of equipment leases are accounted for separately from lease components.

Derivatives, Policy [Policy Text Block]

Convertible Preferred Stock Warrant Liability

longer required, the fair value on the date of such change is released to equity.

Revenue [Policy Text Block]

Revenue Recognition

five

steps:

(i)

identification of the promised goods or services in the contract;

(ii)

determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract;

(iii)

measurement of the transaction price, including the constraint on variable consideration;

(iv)

allocation of the transaction price to the performance obligations based on estimated selling prices; and

(v)

not

may

be adjusted accordingly in the period that the adjustment is known.

Research and Development Expense, Policy [Policy Text Block]

Research and Development Costs

– Research and development costs are expensed as incurred. Research and development costs consist primarily of salaries and benefits, stock-based compensation, consultant fees,

third

Share-based Payment Arrangement [Policy Text Block]

Stock-Based Compensation

– The Company measures the fair value of all stock-based awards, including stock options, to employees and, since

April 1, 2018,

to nonemployees, on the grant date and records the fair value of these awards, net of estimated forfeitures, to compensation expense over the service period. Prior to

April 1, 2018,

Earnings Per Share, Policy [Policy Text Block]

Net Income (Loss) Per Share Attributable to Common Stockholders

Reclassification, Comparability Adjustment [Policy Text Block]

Reclassification

Prior year data is subject to reclassification to conform to current year presentation.

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Pronouncements

The Company did

not

adopt any new accounting policies in fiscal

2020.

Recent Accounting Pronouncements

August

2020,

the FASB issued Accounting Standards Update (ASU)

2020

06,

Debt - Debt with Conversion and Other Options (Subtopic

470

) and Derivatives and Hedging - Contracts in an Entity's Own Equity (Subtopic

815

In addition to simplifying the accounting for certain debt and equity instruments,

none

January 1, 2021.

Its adoption will have an immaterial impact on the number of shares used in the computation of year-to-date basic and diluted earnings per share.

The Company has reviewed all other significant newly-issued accounting pronouncements that are

not

yet effective and concluded that they are either

not

applicable to its operations or their adoption will

not

have a material impact on its financial position or results of operations.

Note 2 - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Property, Plant, and Equipment, Useful Life [Table Text Block]

Laboratory equipment (in years)			5
Office and computer equipment (in years)			3
Leasehold improvements			Shorter of remaining lease term or estimated useful life

Note 3 - Business Combination (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block]

Common stock	$	31,789

Total	$	31,789

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	As of February 13, 2018			2018 Adjustments			As of December 31, 2018

Cash and cash equivalents	$	25,525		$	—		$	25,525
Accounts receivable		14,666			—			14,666
Prepaid expenses		446			(10	)		436
Property and equipment		170			—			170
Intangible assets:
Developed technology (1)		22,400			(300	)		22,100
In-process research and development (2)		1,600			—			1,600
Total assets		64,807			(310	)		64,497

Accounts payable		(3,379	)		75			(3,304	)
Other current liabilities		(6,351	)		(393	)		(6,744	)
Liability related to sale of future royalties		(16,300	)		400			(15,900	)
Net assets acquired		38,777			(228	)		38,549

Purchase price		(31,789	)		—			(31,789	)

Bargain purchase gain (3)	$	6,988		$	(228	)	$	6,760

Note 4 - Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	Convertible Preferred Stock Warrant Liability			Total

Balance at January 1, 2018	$	67		$	67
Issuances		—			—
Revaluation loss included in loss on revaluation of financial instruments		3			3
Settlements		(70	)		(70	)
Balance at December 31, 2018	$	—		$	—

Total losses included in other income and (expenses) attributable to liabilities still held as of December 31, 2018	$	—		$	—

Note 5 - Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Cash and Cash Equivalents [Table Text Block]

	December 31, 2020		December 31, 2019

Cash at banks	$	66,865	$	13,511
Money market funds		60,005		15
Cash and cash equivalents	$	126,870	$	13,526

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	December 31, 2020		December 31, 2019

Royalties receivable	$	334	$	3,438
Customer service contracts – billed		—		181
Accounts receivable	$	334	$	3,619

Property, Plant and Equipment [Table Text Block]

	December 31, 2020			December 31, 2019

Laboratory equipment	$	1,759		$	537
Office and computer equipment		294			132
Total property and equipment		2,053			669
Less: accumulated depreciation		(573	)		(459	)
Property and equipment, net	$	1,480		$	210

Lessee, Operating Lease, Right-of-Use Assets [Table Text Block]

	December 31, 2020		December 31, 2019

Facilities	$	6,836	$	1,985
Office equipment		2		5
Right-of-use assets, net	$	6,838	$	1,990

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	December 31, 2020			December 31, 2019

Purchased technology	$	20,300		$	22,100
Intellectual property		80			80
Total cost		20,380			22,180
Less accumulated amortization		(5,019	)		(5,087	)
Intangible assets, net	$	15,361		$	17,093

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Year Ending December 31,	Amount
2021	$	1,732
2022		1,731
2023		1,732
2024		1,732
2025		1,731
Thereafter		6,703
Total	$	15,361

Schedule of Accrued Liabilities [Table Text Block]

	December 31, 2020		December 31, 2019

Accrued compensation	$	1,618	$	903
Accrued clinical and manufacturing expenses		1,772		3,228
Accrued professional and consulting services		777		2
Reserve for return of royalties		—		178
Other		632		254
Total	$	4,799	$	4,565

Note 7 - Liabilities Related to Sale of Future Royalties (Tables)

12 Months Ended

Dec. 31, 2020

Deferred Revenue, by Arrangement, Disclosure [Table Text Block]

Total liability related to sale of future royalties, start of year	$	16,332
Non-cash royalty revenue paid to HCRP		(3,277	)
Non-cash interest expense recognized		1,874
Total liability related to sale of future royalties, end of year		14,929
Current portion		(2,779	)
Long-term portion	$	12,150

Note 8 - Leases (Tables)

12 Months Ended

Dec. 31, 2020

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Year Ending December 31,	Amount
2021	$	2,633
2022		1,801
2023		1,585
2024		1,641
2025		1,112
Undiscounted total		8,772
Less: imputed interest		(1,564	)
Present value of future minimum payments		7,208
Current portion of operating lease liability		(2,052	)
Operating lease liability, net of current portion	$	5,156

Lease, Cost [Table Text Block]

	Year Ended December 31,
	2020			2019
Lease cost
Operating lease cost	$	1,145		$	959
Short-term lease cost		13			15
Variable lease cost		264			162
Sublease income		(217	)		(217	)
Total lease cost	$	1,205		$	919

Restructuring and Related Costs [Table Text Block]

Balance as of January 1, 2018	$	—
Costs of exit from leased premises		359
Deferred rent on cease-use date		19
Impairment of property and equipment		(106	)
Cash paid, net of receipts		(41	)
Accretion charges, included in rent expense		2
Balance as of December 31, 2018	$	233

Note 12 - Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Common Stock Reserved for Issuance [Table Text Block]

	December 31, 2020		December 31, 2019

Options issued and outstanding		6,813,033		1,811,652
Available for future grants of equity awards		1,230,863		295,180
Common stock warrants		1,244,974		43,370,162
Total		9,288,870		45,476,994

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

Securities into which warrants are convertible	Warrants outstanding		Exercise Price		Expiration Date

Common Stock		5,000	$	0.30	September 2024
Common Stock		224,797	$	0.375	September 2024
Common Stock		225,966	$	1.10	April 2024
Common Stock		111,931	$	1.375	April 2024
Common Stock		316,584	$	2.50	March 2025
Common Stock		269,496	$	3.125	February 2025
Common Stock		80,286	$	3.125	March 2024
Common Stock		10,914	$	22.99	December 2026
Total		1,244,974

Fair Value of Warrants, Assumptions [Table Text Block]

Offering	March 2019			April 2019			September 2019			March 2020
Aggregate valuation on issuance date	$	100,000		$	333,000		$	497,000		$	453,000
Number of warrants issued		84,000			636,364			2,115,738			280,000
Exercise price	$	3.125		$	1.375		$	0.375		$	3.125
Closing stock price	$	2.08		$	0.89		$	0.36		$	2.34
Risk-free interest rate		2.34	%		2.31	%		1.55	%		0.88	%
Expected term (In Years)		5.00			5.00			5.00			4.99
Expected volatility		80	%		83	%		83	%		98	%
Dividend yield		—	%		—	%		—	%		—	%

Note 13 - Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement, Option, Activity [Table Text Block]

							Weighted
	Shares			Number of			Average
	Available			Options			Exercise
	For Grant			Outstanding			Price

Balance at January 1, 2018		—			304,850		$	9.50
Assumed on consummation of Merger		291,102			627,106		$	26.33
Granted		(431,100	)		431,100		$	5.17
Exercised		—			(2,013	)	$	6.49
Forfeited		71,500			(89,903	)	$	5.90
Canceled		269,148			(405,977	)	$	34.64

Balance at December 31, 2018		200,650			865,163		$	8.13

Authorized under 2019 Plan on Adoption		1,600,000			—		$	—
Removed from 2016 Plan		(223,389	)		—		$	—
Granted		(1,791,030	)		1,791,030		$	0.67
Forfeited		483,849			(592,528	)	$	1.57
Canceled		25,100			(252,013	)	$	9.25

Balance at December 31, 2019		295,180			1,811,652		$	2.74

Authorized under 2019 Plan Amendment		6,400,000			—		$	—
Granted		(5,579,800	)		5,579,800		$	2.66
Exercised		—			(414,676	)	$	1.45
Forfeited		105,910			(105,992	)	$	1.65
Canceled		9,573			(57,751	)	$	10.57

Balance at December 31, 2020		1,230,863			6,813,033		$	2.70

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	Year Ended December 31,
	2020	2019	2018

Risk-free interest rate	0.40% - 0.88%	1.68% - 2.31%	2.79% - 2.80%
Expected term (in years)	5.22 - 10.00	5.39 - 10.00	5.84 - 6.05
Expected volatility	94% - 111%	83% - 85%	78% - 80%
Dividend yield	—%	—%	—%

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	Year Ended December 31,
	2020		2019		2018

Research and development	$	1,563	$	253	$	254
General and administrative		2,795		374		285
Total stock-based compensation	$	4,358	$	627	$	539

Note 15 - Restructuring Charges and (Reversals) (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

	Suspension			Severance			Impairment
	of Contract			Benefits			Charges			Other			Total

Cumulative cost incurred as of December 31, 2020	$	2,252		$	368		$	1,272		$	179		$	4,071

Reconciliation of liabilities:
Balance at January 1, 2019	$	—		$	—		$	—		$	—		$	—
Period charges		3,223			368			1,272			57			4,920
Settlements		—			—			(1,272	)		—			(1,272	)
Balance at December 31, 2019		3,223			368			—			57			3,648

Period charges		—			—			—			122			122
Period reversals		(971	)		—			—			—			(971	)
Settlements		(2,252	)		(368	)		—			(179	)		(2,799	)
Balance at December 31, 2020	$	—		$	—		$	—		$	—		$	—

Note 17 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
	2020		2019		2018

Current:
Federal	$	—	$	—	$	—
State		3		2		3
Foreign		235		488		106

Total Current		238		490		109

Deferred:
Federal		—		—		—
State		—		—		—
Foreign		—		—		—

Total Deferred		—		—		—

Provision for income taxes	$	238	$	490	$	109

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31, 2020			December 31, 2019			December 31, 2018
Deferred tax assets:
Net operating loss carry-forwards	$	14,161		$	6,924		$	43,822
Research and development tax credits		2,497			1,591			3,357
Capitalized research and development		4,534			4,773			2,326
Sale of future royalties		7,178			7,486			8,383
Lease Liability		1,695			492			—
Accruals, reserves and other		1,327			1,253			714
Total deferred tax assets		31,392			22,519			58,602
Valuation allowance		(21,952	)		(13,365	)		(48,626	)
Deferred tax assets net of valuation allowance		9,440			9,154			9,976
Deferred tax liabilities:
Intangible assets		(7,832	)		(8,730	)		(9,976	)
Right-of-use assets		(1,608	)		(424	)		—
Total deferred tax liabilities		(9,440	)		(9,154	)		(9,976	)

Net deferred tax assets	$	—		$	—		$	—

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
	2020			2019			2018

U.S. federal taxes at statutory rate		21.0	%		21.0	%		21.0	%
State taxes (net of federal benefit)		2.9			0.4			0.6
Foreign rate differential		(0.7	)		(2.6	)		3.1
Global intangible low-taxed income		—			—			(8.8	)
Permanently non-deductible items		2.2			(3.7	)		(2.5	)
Tax credits		2.8			1.7			2.1
Change in valuation allowance		(26.8	)		194.2			(20.4	)
Tax attributes write-off due to change in control		0.5			(208.3	)		—
Prior year true-up		(2.5	)		(0.9	)		—
NOL and credit adjustments		—			—			(3.8	)
Bargain purchase gain		—			—			8.1
Other		(0.1	)		(4.5	)		—

Provision for income taxes		(0.7	)%		(2.7	)%		(0.6	)%

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	Year Ended December 31,
	2020			2019			2018

Beginning Balance	$	851		$	1,582		$	1,404
Additions based on tax positions related to the current year		431			159			181
Decreases related to prior years' tax positions		(1	)		(890	)		(3	)

Ending Balance	$	1,281		$	851		$	1,582

Note 18 - Net Loss Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Year Ended December 31,
	2020			2019			2018

Net loss	$	(32,220	)	$	(18,645	)	$	(18,007	)

Series B and C preferred dividend		—			—			(339	)

Net loss attributable to common stockholders	$	(32,220	)	$	(18,645	)	$	(18,346	)

Shares used to compute net loss per share, basic and diluted		88,295,762			21,569,523			6,316,065

Net loss per share attributable to common stockholders, basic and diluted	$	(0.36	)	$	(0.86	)	$	(2.90	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	Year Ended December 31,
	2020		2019		2018

Options to purchase common stock		4,409,806		1,583,575		839,396

Warrants to purchase common stock		14,773,425		17,579,945		9,658

Warrant to purchase convertible preferred stock		—		—		891

Series B and C convertible preferred stock outstanding, including cumulative dividends		—		—		213,760

Series A convertible preferred stock outstanding		—		—		12,260

Convertible promissory notes, related party (as converted)		—		—		185,159

Total potentially dilutive securities excluded from denominator of the diluted earnings per share computation		19,183,231		19,163,520		1,261,124

Note 19 - Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information [Table Text Block]

	Year Ended December 31, 2020
	First			Second			Third			Fourth

Revenue	$	2,902		$	523		$	265		$	356
Operating expenses	$	3,596		$	9,049		$	7,854		$	13,717
Net loss	$	(1,297	)	$	(8,977	)	$	(8,085	)	$	(13,861	)
Net loss per share – basic and diluted	$	(0.02	)	$	(0.12	)	$	(0.08	)	$	(0.13	)

	Year Ended December 31, 2019
	First			Second			Third			Fourth

Revenue	$	5,407		$	85		$	454		$	3,916
Operating expenses	$	5,855		$	5,082		$	5,168		$	9,542
Net loss	$	(1,339	)	$	(5,637	)	$	(5,260	)	$	(6,409	)
Net loss per share – basic and diluted	$	(0.18	)	$	(0.39	)	$	(0.32	)	$	(0.13	)

	Year Ended December 31, 2018
	First		Second			Third			Fourth

Revenue	$	1,503	$	608		$	281		$	1,767
Operating expenses	$	5,418	$	8,383		$	6,161		$	5,953
Net income (loss)	$	2,314	$	(8,871	)	$	(6,548	)	$	(4,902	)
Net income (loss) attributable to common stockholders	$	1,975	$	(8,871	)	$	(6,548	)	$	(4,902	)
Net income (loss) per share – basic	$	0.54	$	(1.24	)	$	(0.92	)	$	(0.69	)
Net income (loss) per share – diluted	$	0.49	$	(1.24	)	$	(0.92	)	$	(0.69	)

Note 1 - Organization and Basis of Presentation (Details Textual)								3 Months Ended	10 Months Ended	12 Months Ended			15 Months Ended	21 Months Ended
	Oct. 13, 2020 USD ($)	Jul. 13, 2020 USD ($) shares	Mar. 02, 2020 USD ($) $ / shares shares	Sep. 30, 2019 USD ($) $ / shares shares	Apr. 11, 2019 USD ($) $ / shares shares	Mar. 20, 2019 USD ($) $ / shares shares	Feb. 13, 2018 shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($)	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Jun. 08, 2020 $ / shares shares	Jun. 07, 2020 $ / shares shares
Business Combination, Stock Conversion, Shares Issued Per Common Share Of Surviving Entity (in shares)							0.22148
Stock Issued During Period, Shares, Reverse Stock Splits (in shares)							7,100,000
Exchange Ratio, Number of Shares Exchanged Per Share (in shares)							0.0201346
Stock Issued During Period, Shares, New Issues (in shares)						1,200,000
Gross Proceeds from Issuance of Common Stock \| $						$ 3,000,000
Proceeds from Issuance of Common Stock \| $						2,500,000
Payments of Stock Issuance Costs \| $						$ 320,000
Payments for Aggregate Commissions to Underwriters \| $					$ 750,000
Proceeds From Exercise of Pre-funded Warrants \| $											$ 1,226,000
Common Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares								$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001	$ 0.0001	$ 0.0001	$ 0.10
Common Stock, Shares Authorized (in shares)								150,000,000	150,000,000	150,000,000	150,000,000		150,000,000	150,000,000	150,000,000	100,000,000
Stock Issued During Period, Value, New Issues \| $											$ 2,440,000
The April 2019 Offering [Member]
Stock Issued During Period, Shares, New Issues, Excluding Shares Sold to Underwriters (in shares)					925,455
Shares Issued, Price Per Share (in dollars per share) \| $ / shares					$ 1.10
Proceeds from Issuance or Sale of Equity, Total \| $					$ 9,300,000
Proceeds from Issuance or Sale of Equity, Net \| $					$ 8,100,000
The September 2019 Offering [Member]
Stock Issued During Period, Shares, New Issues, Excluding Shares Sold to Underwriters (in shares)				26,124,828
Shares Issued, Price Per Share (in dollars per share) \| $ / shares				$ 0.30
Pre-funded Warrant Price (in dollars per share) \| $ / shares				0.20
Pre-funded Warrant, Accompanying Warrant, Amount Paid Per Share (in dollars per share) \| $ / shares				$ 0.10
Payments for Aggregate Commissions to Underwriters \| $				$ 713,000
Proceeds from Issuance or Sale of Equity, Total \| $				8,700,000
Proceeds from Issuance or Sale of Equity, Net \| $				$ 7,700,000
The March 2020 Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)			4,000,000
Payments of Stock Issuance Costs \| $			$ 775,000
Proceeds from Issuance or Sale of Equity, Total \| $			10,000,000
Proceeds from Issuance or Sale of Equity, Net \| $			$ 9,200,000
ATM Program [Member]
Stock Issued During Period, Shares, New Issues (in shares)		12,503,806
Proceeds from Issuance of Common Stock \| $		$ 97,000,000								$ 101,934,000
Stock Issued During Period, Value, New Issues \| $		$ 100,000,000
Open Market Sale Agreement [Member]
Stock Issued During Period, Shares, New Issues (in shares)								692,651
Proceeds from Issuance of Common Stock \| $								$ 4,900,000
Payments of Stock Issuance Costs \| $	$ 300,000
Stock Issued During Period, Value, New Issues \| $								$ 5,500,000
Open Market Sale Agreement, Maximum Aggregate Offering Price \| $	$ 250,000,000
Open Market Sale Agreement, Sales Commission, Percentage	4.50%
Warrants in Connection with March 2019 Offering [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)						84,000
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)						1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) \| $ / shares						$ 3.125
Warrants and Rights Outstanding, Term (Year)						5 years
Warrants and Rights Outstanding \| $						$ 100,000
Warrants in Connection With the April 2019 Offering [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)					10,454,546
Warrants and Rights Outstanding \| $					$ 333,000
Class of Warrant Right, Number of Pre-funded Warrants Issued During Period (in shares)					8,165,455
Pre-funded Warrant Price (in dollars per share) \| $ / shares					$ 1
Pre-funded Warrant, Accompanying Warrant, Amount Paid Per Share (in dollars per share) \| $ / shares					$ 0.10
Warrants in Connection With the April 2019 Offering [Member] \| Over-Allotment Option [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)					1,363,636
Pre-funded Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)				1	1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) \| $ / shares				$ 0.10	$ 0.10
Class of Warrant Right, Number of Pre-funded Warrants Issued During Period (in shares)				4,100,000
Proceeds From Exercise of Pre-funded Warrants \| $													$ 400,000	$ 800,000
Class of Warrant or Right, Exercised During Period (in shares)													4,100,000	8,165,455
Common Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)				1	1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) \| $ / shares				$ 0.30	$ 1.10
Warrants and Rights Outstanding, Term (Year)				5 years	5 years
Class of Warrant or Right, Exercised During Period (in shares)													30,661,667	10,228,580
Proceeds from Exercise of Common Stock Warrants \| $													$ 9,200,000	$ 11,300,000
Underwriter Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)					1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) \| $ / shares					$ 1.375
Class of Warrant or Right, Issued During Period (in shares)					636,364
Class of Warrant or Right, Period to Expiration (Year)					5 years
Class of Warrant or Right, Issued During Period, Fair Value \| $					$ 333,000
Class of Warrant or Right, Exercised During Period (in shares)														524,433
Proceeds from Exercise of Common Stock Warrants \| $														$ 700,000
Warrants in Connection with the September 2019 Offering [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)				30,666,667
Warrants and Rights Outstanding \| $				$ 497,000
Warrants in Connection with the September 2019 Offering [Member] \| Over-Allotment Option [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)				4,000,000
Underwriter Warrants, September 2019 [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)				1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) \| $ / shares				$ 0.375
Warrants and Rights Outstanding \| $				$ 497,000
Class of Warrant or Right, Issued During Period (in shares)				2,115,738
Class of Warrant or Right, Period to Expiration (Year)				5 years
Class of Warrant or Right, Exercised During Period (in shares)													1,890,941
Proceeds from Exercise of Common Stock Warrants \| $													$ 700,000
The March 2020 Offering Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)			2,000,000
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)			1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) \| $ / shares			$ 2.50
Warrants and Rights Outstanding, Term (Year)			5 years
Warrants and Rights Outstanding \| $			$ 453,000
Class of Warrant or Right, Exercised During Period (in shares)									1,683,416
Proceeds from Exercise of Common Stock Warrants \| $									$ 4,200,000
The March 2020 Offering Placement Agent Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)			1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) \| $ / shares			$ 3.125
Warrants and Rights Outstanding \| $			$ 453,000
Class of Warrant or Right, Issued During Period (in shares)			280,000
Class of Warrant or Right, Exercised During Period (in shares)									10,504
Private Vaxart's Stockholders, Warrantholders, and Optionholders [Member]
Ownership Percentage							51.00%
Aviragens Stockholderrs and Optionholders [Member]
Ownership Percentage							49.00%
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio							11

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 0	$ 0
Developed Technology Rights [Member] \| Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	1 year 109 days
Developed Technology Rights [Member] \| Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	11 years 273 days
Intellectual Property [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	20 years

Note 2 - Summary of Significant Accounting Policies - Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2020
Laboratory Equipment [Member]
Laboratory equipment (in years) (Year)	5 years
Office Equipment [Member]
Laboratory equipment (in years) (Year)	3 years
Leasehold Improvements [Member]
Leasehold improvements	Shorter of remaining lease term or estimated useful life

Note 3 - Business Combination (Details Textual) - Developed Technology Rights [Member]	12 Months Ended
	Dec. 31, 2020
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	11 years 273 days
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	1 year 109 days

Note 3 - Business Combination - Total Purchase Price for Aviragen (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 13, 2018	Dec. 31, 2018
Common stock	$ 31,789
Total	$ 31,789	$ 31,789

Note 3 - Business Combination - Allocation of the Purchase Price to the Fair Value of the Respective Assets and Liabilities Acquired (Details) - USD ($)
$ in Thousands

12 Months Ended

Feb. 13, 2018

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Cash and cash equivalents

$ 25,525

In-process research and development (2)

14,666

Prepaid expenses

436

Property and equipment

170

Intangible assets:

Developed technology (1)

^[1]

22,100

^[2]

1,600

Total assets

64,497

Other current liabilities

(3,304)

(6,744)

(15,900)

Net assets acquired

38,549

Purchase price

$ (31,789)

(31,789)

Bargain purchase gain (3)

6,760

^[3]

Previously Reported [Member]

Cash and cash equivalents

25,525

In-process research and development (2)

14,666

Prepaid expenses

446

Property and equipment

170

Intangible assets:

Developed technology (1)

^[1]

22,400

^[2]

1,600

Total assets

64,807

Other current liabilities

(3,379)

(6,351)

(16,300)

Net assets acquired

38,777

Purchase price

(31,789)

Bargain purchase gain (3)

^[3]

$ 6,988

Revision of Prior Period, Adjustment [Member]

Cash and cash equivalents

In-process research and development (2)

Prepaid expenses

(10)

Property and equipment

Intangible assets:

Developed technology (1)

^[1]

(300)

^[2]

Total assets

(310)

Other current liabilities

(393)

400

Net assets acquired

(228)

Purchase price

Bargain purchase gain (3)

^[3]

$ (228)

[1]	Developed technology comprises Inavir and Relenza, both influenza vaccines on which the Company is, or was, receiving royalty revenue, which, based on valuations prepared by an independent third party based on estimated discounted cash flows based on probability-weighted future development expenditures and revenue streams provided by the Company's management, are being, or has been, amortized on a straight-line basis over the estimated periods of future royalties at the time of the acquisition of 11.75 and 1.3 years, respectively.
[2]	In-process research and development (see Note 5) related to teslexivir, or BTA074, a direct-acting antiviral that, at the time of the Merger, was being actively developed as a treatment for genital warts. The valuation was prepared by an independent third party based on estimated discounted cash flows based on probability-weighted future development expenditures and revenue streams provided by the Company's management.
[3]	The bargain purchase gain represents the excess of the fair value of tangible and identified intangible assets acquired, less liabilities assumed, over the purchase price.

Note 4 - Fair Value of Financial Instruments (Details Textual) - Fair Value, Recurring [Member] - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial Liabilities Fair Value Disclosure, Total	$ 0	$ 0
Money Market Funds [Member]
Cash and Cash Equivalents, Fair Value Disclosure	$ 60,005,000	$ 15,000	$ 15,000

Note 4 - Fair Value of Financial Instruments - Reconciliation of All Liabilities Measured At Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Balance at January 1, 2018	$ 67
Issuances
Revaluation loss included in loss on revaluation of financial instruments	3
Settlements	(70)
Balance at December 31, 2018
Total losses included in other income and (expenses) attributable to liabilities still held as of December 31, 2018
Convertible Preferred Stock Warrant Liability [Member]
Balance at January 1, 2018	67
Issuances
Revaluation loss included in loss on revaluation of financial instruments	3
Settlements	(70)
Balance at December 31, 2018
Total losses included in other income and (expenses) attributable to liabilities still held as of December 31, 2018

Note 5 - Balance Sheet Components (Details Textual) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2018	Sep. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation, Total			$ 114,000	$ 504,000	$ 476,000
Impairment of Property and Equipment		$ 106,000		1,272,000	106,000
Amortization of Intangible Assets, Total			1,732,000	2,320,000	2,727,000
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)					$ 1,600,000
In Process Research and Development 1 [Member]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	$ 1,600,000
Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Remaining Life (Year)			8 years 328 days
Intellectual Property [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			20 years
Finite-Lived Intangible Asset, Remaining Life (Year)			7 years
Minimum [Member] \| Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			1 year 109 days
Maximum [Member] \| Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			11 years 273 days
Restructuring Charges [Member]
Impairment of Right-of-use Asset				120,000
Restructuring Charges [Member] \| CALIFORNIA
Asset Impairment Charges, Total				$ 1,152,000

Note 5 - Balance Sheet Components - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash at banks	$ 66,865	$ 13,511
Money market funds	60,005	15
Cash and cash equivalents	$ 126,870	$ 13,526	$ 11,506	$ 1,571

Note 5 - Balance Sheet Components - Accounts Receivable, Net of Allowance (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts receivable	$ 334	$ 3,619
Royalty [Member]
Accounts receivable	334	3,438
Customer Service Contracts [Member]
Accounts receivable		$ 181

Note 5 - Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property and equipment, gross	$ 2,053	$ 669
Less: accumulated depreciation	(573)	(459)
Property and equipment, net	1,480	210
Laboratory Equipment [Member]
Property and equipment, gross	1,759	537
Office Equipment [Member]
Property and equipment, gross	$ 294	$ 132

Note 5 - Balance Sheet Components - Right-of-Use Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Right-of-use assets, net	$ 6,838	$ 1,990
Facilities [Member]
Right-of-use assets, net	6,836	1,985
Office Equipment [Member]
Right-of-use assets, net	$ 2	$ 5

Note 5 - Balance Sheet Components - Intangible assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Intangible assets, gross	$ 20,380	$ 22,180
Less accumulated amortization	(5,019)	(5,087)
Intangible assets, net	15,361	17,093
Purchased Technology [Member]
Intangible assets, gross	20,300	22,100
Intellectual Property [Member]
Intangible assets, gross	$ 80	$ 80

Note 5 - Balance Sheet Components - Estimated Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2020 USD ($)
2021	$ 1,732
2022	1,731
2023	1,732
2024	1,732
2025	1,731
Thereafter	6,703
Total	$ 15,361

Note 5 - Balance Sheet Components - Accrued liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accrued compensation	$ 1,618	$ 903
Accrued clinical and manufacturing expenses	1,772	3,228
Accrued professional and consulting services	777	2
Reserve for return of royalties		178
Other	632	254
Total	$ 4,799	$ 4,565

Note 6 - Revenue 1 (Details Textual) - USD ($)		3 Months Ended												12 Months Ended
Note 6 - Revenue 1 (Details Textual) - USD ($)	Jun. 28, 2018	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2015
Contract with Customer, Asset, after Allowance for Credit Loss, Current, Total		$ 0				$ 181,000								$ 0	$ 181,000
Contract With Customer, Asset, Revenue Recognized		219,000				21,000								219,000	21,000
Contract with Customer, Liability, Total		0				0								0	0
Revenue, Remaining Performance Obligation, Amount		13,000				211,000								13,000	211,000
Revenue from Contract with Customer, Including Assessed Tax		$ 356,000	$ 265,000	$ 523,000	$ 2,902,000	$ 3,916,000	$ 454,000	$ 85,000	$ 5,407,000	$ 1,767,000	$ 281,000	$ 608,000	$ 1,503,000	4,046,000	9,862,000	$ 4,159,000
Income Tax Expense (Benefit), Total														$ 238,000	490,000	109,000
Foreign Tax Authority [Member] \| National Tax Agency, Japan [Member]
Royalty Withholding Tax														5.00%
Income Tax Expense (Benefit), Total														$ 183,000	435,000	102,000
Government Contract [Member]
Contract Value	$ 15,700,000																$ 14,000,000
Contract Value, Adjustment	$ 1,700,000
Revenue from Contract with Customer, Including Assessed Tax															(20,000)	1,344,000
Contract with Customer, Asset, Credit Loss Expense (Reversal)															20,000
Contract with Customer, Asset, Allowance for Credit Loss, Period Increase (Decrease), Total														(20,000)
Contract with Customer, Asset, Allowance for Credit Loss, Writeoff															20,000
Royalty [Member]
Revenue from Contract with Customer, Including Assessed Tax														2,962,000	4,446,000	1,340,000
Royalty [Member] \| GSK Research and License Agreement [Member]
Revenue from Contract with Customer, Including Assessed Tax														$ 193,000	778,000	788,000
Royalty Percentage														7.00%
Royalty [Member] \| Daiichi Sankyo Collaberation and License Agreement [Member]
Revenue from Contract with Customer, Including Assessed Tax														$ 2,769,000	3,668,000	552,000
Royalty Percentage														4.00%
Non Cash Royalty Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax														$ 886,000	5,030,000	1,475,000
Non Cash Royalty Revenue [Member] \| Daiichi Sankyo Collaberation and License Agreement [Member]
Revenue from Contract with Customer, Including Assessed Tax														$ 886,000	$ 5,030,000	$ 1,475,000

Note 6 - Revenue 2 (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01	Dec. 31, 2020
Revenue, Remaining Performance Obligation, Percentage	100.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month)	90 days

Note 7 - Liabilities Related to Sale of Future Royalties (Details Textual) - HCRP [Member] $ in Millions	1 Months Ended
	Apr. 30, 2016 USD ($)
Proceeds from Sale of Future Royalties, Net	$ 20
Royalty Interest Due Each Year	$ 3
Royalty Interest, Percentage of Additional Royalties Due Each Year	15.00%
Royalty Interest, Additional Royalties Due Each Year	$ 1

Note 7 - Liabilities Related to Sale of Future Royalties - Deferred Revenue Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current portion	$ (2,779)	$ (2,916)
Long-term portion	12,150	$ 13,416
HealthCare Royalty Partners III, L.P. [Member] \| Royalty Arrangement [Member]
Total liability related to sale of future royalties, start of year	16,332
Non-cash royalty revenue paid to HCRP	(3,277)
Non-cash interest expense recognized	1,874
Total liability related to sale of future royalties, end of year	14,929
Current portion	(2,779)
Long-term portion	$ 12,150

Note 8 - Leases (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
Note 8 - Leases (Details Textual) - USD ($)	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lessee, Operating Lease, Number of Right-of-Use Leases		6
Lessee, Operating Lease, Number of Right-of-Use Leases, Subleased		1
Lessee, Operating Lease, Number Leases Exceeding One Year		3
Lessee, Operating Lease, Renewal Term (Year)		5 years
Operating Lease, Weighted Average Discount Rate, Percent		9.94%
Operating Lease, Weighted Average Remaining Lease Term (Year)		4 years 25 days
Lessee, Finance Lease, Number of Leases		0
Short-term Lease Commitment, Amount		$ 0
Operating Lease, Payments		$ 1,111,000	$ 983,000	$ 875,000
Operating Lease, Impairment Loss	$ 253,000

Note 8 - Leases - Lease Liabilities Payment Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
2021	$ 2,633
2022	1,801
2023	1,585
2024	1,641
2025	1,112
Undiscounted total	8,772
Less: imputed interest	(1,564)
Present value of future minimum payments	7,208
Current portion of operating lease liability	(2,052)	$ (841)
Operating lease liability, net of current portion	$ 5,156	$ 1,472

Note 8 - Leases - Operating Lease Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating lease cost	$ 1,145	$ 959
Short-term lease cost	13	15
Variable lease cost	264	162
Sublease income	(217)	(217)
Total lease cost	$ 1,205	$ 919

Note 8 - Leases - Liabilities Related to Costs of Exit From Leased Premises (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Balance as of January 1, 2018		$ 233
Costs of exit from leased premises			359
Deferred rent on cease-use date			19
Impairment of property and equipment			(106)
Cash paid, net of receipts	$ (2,799)	$ (1,272)	(41)
Accretion charges, included in rent expense			2
Balance as of December 31, 2018			$ 233

Note 9 - Convertible Promissory Notes, Related Parties (Details Textual) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended
	Feb. 13, 2018	Dec. 10, 2014	Dec. 31, 2015	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest Expense, Total					$ 315	$ 821
Debt Conversion, Converted Instrument, Amount						35,577
Other Ownership Interests, Contributed Capital	$ 21,400
Convertible Promissory Notes Issued in 2014 and 2015 [Member]
Debt Instrument, Interest Rate, Stated Percentage			8.00%
Long-term Debt, Gross	35,600						$ 35,300
Debt Instrument, Principal Amount	29,400						29,400
Debt Instrument, Interest Amount	6,600						6,300
Debt Instrument, Unamortized Discount, Total	$ 400						$ 400
Interest Expense, Total						$ 300
Debt Conversion, Converted Instrument, Shares Issued (in shares)	1,571,702
Debt Instrument, Convertible, Conversion Price (in dollars per share)	$ 9.05
Debt Conversion, Converted Instrument, Amount	$ 14,200
Note Purchase Agreement [Member]
Proceeds from Convertible Debt		$ 18,400
Second Note Purchase Agreement [Member]
Proceeds from Convertible Debt			$ 11,000

Note 10 - Secured Promissory Note Payable to Oxford Finance (Details Textual) - USD ($)			12 Months Ended
	Nov. 04, 2019	Dec. 22, 2016	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 13, 2018
Debt Conversion, Converted Instrument, Amount					$ 35,577,000
Amortization of Debt Issuance Costs	$ 98,000
Legal Fees	$ 2,000
Warrants in Connection with Loan Agreement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		7,563				10,914
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 33.11				$ 22.99
Warrants Not Settleable in Cash, Fair Value Disclosure		$ 134,000				$ 70,000
Loan Agreement [Member] \| Oxford Finance [Member]
Long-term Debt, Gross		$ 5,000,000
Debt Instrument, Term (Year)		4 years
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid		$ 325,000
Debt Conversion, Converted Instrument, Amount		$ 250,000
Debt Instrument, Interest Rate, Effective Percentage						10.50%
Interest Expense, Debt, Total				311,000	526,000
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total				$ 223,000	$ 356,000
Loan Agreement [Member] \| Oxford Finance [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		6.17%

Note 11 - Commitments and Contingencies (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Purchase Obligation, Total	$ 24.6
Long-term Purchase Commitment, Period (Month)	1 year 180 days

Note 12 - Stockholders' Equity (Details Textual)		12 Months Ended		62 Months Ended	72 Months Ended
Note 12 - Stockholders' Equity (Details Textual)	Feb. 13, 2018 USD ($) shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2013 USD ($)	Feb. 13, 2018 USD ($) shares	Dec. 31, 2014 USD ($)	Dec. 31, 2012 USD ($)	Mar. 02, 2020 USD ($)	Dec. 31, 2019 $ / shares shares	Sep. 30, 2019 USD ($)	Apr. 11, 2019 USD ($)	Mar. 20, 2019 USD ($)
Preferred Stock, Shares Authorized (in shares) \| shares		5,000,000						5,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares		$ 0.0001						$ 0.0001
Preferred Stock, Shares Outstanding, Ending Balance (in shares) \| shares		0						0
Common Stock, Number of Votes Per Share		1
Dividends, Common Stock, Total		$ 0
Warrants in Connection with March 2019 Offering [Member]
Warrants and Rights Outstanding											$ 100,000
The March 2020 Offering Placement Agent Warrants [Member]
Warrants and Rights Outstanding							$ 453,000
Warrants in Connection With the April 2019 Offering [Member]
Warrants and Rights Outstanding										$ 333,000
Underwriter Warrants, September 2019 [Member]
Warrants and Rights Outstanding									$ 497,000
First Set of Warrants Expiring September 2024 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share) \| $ / shares		$ 0.30
Second Set of Warrants Expiring April 2024 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share) \| $ / shares		0.375
First Set of Warrants Expiring April 2024 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share) \| $ / shares		1.10
Warrants Expiring March 2025 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share) \| $ / shares		2.50
Warrants Expiring February 2025 [Member]
Warrant Exercise Price to be Entitled to Receive Cash Consideration, Fundamental Transaction (in dollars per share) \| $ / shares		$ 3.125
Conversion From Series C Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Issued (in shares) \| shares	696,028
Accumulated and Undeclared Dividends, Shares Issued Upon Conversion (in shares) \| shares	253,851			253,851
Conversion From Series B Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Issued (in shares) \| shares	599,259
Accumulated and Undeclared Dividends, Shares Issued Upon Conversion (in shares) \| shares	265,340			265,340
Conversion From Series A Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Issued (in shares) \| shares	104,065
Series C Convertible Preferred Stock [Member]
Proceeds from Issuance of Convertible Preferred Stock			$ 20,000,000
Preferred Stock, Dividend Rate, Percentage			8.00%
Dividends, Total				$ 0
Accumulated and Undeclared Dividends	$ 7,300,000			7,300,000
Pre-merger Accumulated and Undeclared Dividends	188,000			188,000
Series B Convertible Preferred Stock [Member]
Proceeds from Issuance of Convertible Preferred Stock					$ 16,000,000
Preferred Stock, Dividend Rate, Percentage					8.00%
Accumulated and Undeclared Dividends	7,600,000			7,600,000
Pre-merger Accumulated and Undeclared Dividends	$ 151,000			$ 151,000
Series A Convertible Preferred Stock [Member]
Proceeds from Issuance of Convertible Preferred Stock						$ 2,900,000
Dividends, Total						$ 0

Note 12 - Stockholders' Equity - Shares of Common Stock Reserved for Issuance (Details) - shares	Dec. 31, 2020	Dec. 31, 2019
Common stock reserved for issuance (in shares)	9,288,870	45,476,994
Options Issued and Outstanding [Member]
Common stock reserved for issuance (in shares)	6,813,033	1,811,652
Options Available for Future Grants [Member]
Common stock reserved for issuance (in shares)	1,230,863	295,180
Common Warrants [Member]
Common stock reserved for issuance (in shares)	1,244,974	43,370,162

Note 12 - Stockholders' Equity - Summary of Warrants Outstanding (Details)	Dec. 31, 2020 $ / shares shares
Warrants outstanding (in shares)	1,244,974
First Set of Warrants Expiring September 2024 [Member]
Warrants outstanding (in shares)	5,000
Exercise Price (in dollars per share) \| $ / shares	$ 0.30
Second Set of Warrants Expiring September 2024 [Member]
Warrants outstanding (in shares)	224,797
Exercise Price (in dollars per share) \| $ / shares	$ 0.375
First Set of Warrants Expiring April 2024 [Member]
Warrants outstanding (in shares)	225,966
Exercise Price (in dollars per share) \| $ / shares	$ 1.10
Second Set of Warrants Expiring April 2024 [Member]
Warrants outstanding (in shares)	111,931
Exercise Price (in dollars per share) \| $ / shares	$ 1.375
Warrants Expiring March 2025 [Member]
Warrants outstanding (in shares)	316,584
Exercise Price (in dollars per share) \| $ / shares	$ 2.50
Warrants Expiring February 2025 [Member]
Warrants outstanding (in shares)	269,496
Exercise Price (in dollars per share) \| $ / shares	$ 3.125
Warrants Expiring March 2024 [Member]
Warrants outstanding (in shares)	80,286
Exercise Price (in dollars per share) \| $ / shares	$ 3.125
Warrants Expiring December 2026 [Member]
Warrants outstanding (in shares)	10,914
Exercise Price (in dollars per share) \| $ / shares	$ 22.99

Note 13 - Equity Incentive Plans (Details Textual) - USD ($)							1 Months Ended		9 Months Ended	12 Months Ended
	Jul. 24, 2020	Jul. 20, 2020	Jul. 09, 2020	Jun. 15, 2020	Mar. 24, 2020	Apr. 23, 2019	Mar. 31, 2020	Nov. 30, 2016	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 23, 2020	Dec. 31, 2017	Jul. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)										1,230,863	295,180	200,650
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)										6,813,033	1,811,652	865,163		304,850
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)										$ 2.70	$ 2.74	$ 8.13		$ 9.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)										8 years 361 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value										$ 22,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares)										6,502,213
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share)										$ 2.68
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term (Year)										8 years 354 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value										$ 21,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares)										2,886,541
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in dollars per share)										$ 2.65
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Year)										8 years 237 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value										$ 9,900,000
Share Price (in dollars per share)							$ 1.70			$ 5.71
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value										$ 2,200,000		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)										414,676	0	2,013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)					2,610,000					5,579,800	1,791,030	431,100
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)					$ 1.70					$ 2.66	$ 0.67	$ 5.17
Performance-based Restricted Stock Units (PRSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted (in shares)							411,000
Share-based Payment Arrangement, Expense									$ 632,000
Share-based Payment Arrangement, Reversal of Expense										$ 632,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations, Total (in shares)										411,000
March Option Awards [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month)					2 years
Performance-based Options [Member] \| Chief Executive Officer [Member]
Share Price (in dollars per share)				$ 2.46
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				900,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate				105.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate				0.35%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate				0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)				5 years 83 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)				$ 0.31
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Fair Value				$ 279,000
Performance-based Options [Member] \| Share-based Payment Arrangement, Tranche One [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				33.33%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Minimum Closing Price for Ten Consecutive Trading Days (in dollars per share)			$ 5	$ 5
Performance-based Options [Member] \| Share-based Payment Arrangement, Tranche Two [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				33.33%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Minimum Closing Price for Ten Consecutive Trading Days (in dollars per share)		$ 7.50		$ 7.50
Performance-based Options [Member] \| Share-based Payment Arrangement, Tranche Three [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				33.33%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Minimum Closing Price for Ten Consecutive Trading Days (in dollars per share)	$ 10			$ 10
Time-based Options [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				845,280
Time-based Options [Member] \| Share-based Payment Arrangement, Tranche One [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				25.00%
Time-based Options [Member] \| Share-based Payment Arrangement, Tranche Two [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				75.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month)				3 years
Time-based Options [Member] \| Share-based Payment Arrangement, Tranche Three [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Accelerated Vesting Percentage				50.00%
Performance-based Options and Time-based Options [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)				$ 2.46
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Expense										$ 4,358,000	$ 627,000	$ 539,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)										$ 2.49	$ 0.48	$ 3.59
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount										$ 8,200,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)										2 years 113 days
The 2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)															0
The 2016 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)						0
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)								10 years
The 2019 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)						10 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)						1,600,000							8,000,000

Note 13 - Equity Incentive Plans - Summary of Stock Option Transactions (Details) - $ / shares		12 Months Ended
	Mar. 24, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares available for grant, balance (in shares)		295,180	200,650
Number of options outstanding, beginning balance (in shares)		1,811,652	865,163	304,850
Weighted average exercise price, balance (in dollars per share)		$ 2.74	$ 8.13	$ 9.50
Shares available for grant, assumed on consummation of Merger (in shares)				291,102
Number of options outstanding, assumed on consummation of Merger (in shares)				627,106
Weighted average exercise price, assumed on consummation of Merger (in dollars per share)				$ 26.33
Shares available for grant, granted (in shares)		(5,579,800)	(1,791,030)	(431,100)
Number of options outstanding, granted (in shares)	2,610,000	5,579,800	1,791,030	431,100
Weighted average exercise price, granted (in dollars per share)	$ 1.70	$ 2.66	$ 0.67	$ 5.17
Number of options outstanding, exercised (in shares)		(414,676)	0	(2,013)
Weighted average exercise price, exercised (in dollars per share)		$ 1.45		$ 6.49
Shares available for grant, forfeited (in shares)		105,910	483,849	71,500
Number of options outstanding, forfeited (in shares)		(105,992)	(592,528)	(89,903)
Weighted average exercise price, forfeited (in dollars per share)		$ 1.65	$ 1.57	$ 5.90
Shares available for grant, canceled (in shares)		9,573	25,100	269,148
Number of options outstanding, canceled (in shares)		(57,751)	(252,013)	(405,977)
Weighted average exercise price, canceled (in dollars per share)		$ 10.57	$ 9.25	$ 34.64
Shares availabe for grant, 2019 Plan Amendment (in shares)		6,400,000	1,600,000
Shares available for grant, removed from 2016 Plan (in shares)			(223,389)
Shares available for grant, balance (in shares)		1,230,863	295,180	200,650
Number of options outstanding, balance (in shares)		6,813,033	1,811,652	865,163
Weighted average exercise price, balance (in dollars per share)		$ 2.70	$ 2.74	$ 8.13

Note 13 - Equity Incentive Plans - Assumptions of Options (Details) - Share-based Payment Arrangement, Option [Member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Minimum [Member]
Risk-free interest rate	0.40%	1.68%	2.79%
Expected term (in years) (Year)	5 years 80 days	5 years 142 days	5 years 306 days
Expected volatility	94.00%	83.00%	78.00%
Maximum [Member]
Risk-free interest rate	0.88%	2.31%	2.80%
Expected term (in years) (Year)	10 years	10 years	6 years 18 days
Expected volatility	111.00%	85.00%	80.00%

Note 13 - Equity Incentive Plans - Total Stock-based Compensation Recognized for Options (Details) - Share-based Payment Arrangement, Option [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Expense	$ 4,358	$ 627	$ 539
Research and Development Expense [Member]
Share-based Payment Arrangement, Expense	1,563	253	254
General and Administrative Expense [Member]
Share-based Payment Arrangement, Expense	$ 2,795	$ 374	$ 285

Note 14 - Related Party Transactions (Details Textual)	1 Months Ended
Note 14 - Related Party Transactions (Details Textual)	Apr. 30, 2020 USD ($)
Disgorgement of Stockholder Short-swing Profits [Member]
Related Party Transaction, Amounts of Transaction	$ 652,000

Note 15 - Restructuring Charges and (Reversals) (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Payments for Restructuring		$ 2,799,000	$ 1,272,000	$ 41,000
Contract Termination [Member]
Payments for Restructuring	$ 2,252,000	$ 2,252,000

Note 15 - Restructuring Charges and (Reversals) - Restructuring Liabilities (Details) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cumulative cost incurred		$ 4,071,000
Balance		3,648,000
Period charges		122,000	4,920,000
Cash paid, net of receipts		(2,799,000)	(1,272,000)	$ (41,000)
Period reversals		(971,000)
Balance			3,648,000
Contract Termination [Member]
Cumulative cost incurred		2,252,000
Balance		3,223,000
Period charges			3,223,000
Cash paid, net of receipts	$ (2,252,000)	(2,252,000)
Period reversals		(971,000)
Balance			3,223,000
Employee Severance [Member]
Cumulative cost incurred		368,000
Balance		368,000
Period charges			368,000
Cash paid, net of receipts		(368,000)
Period reversals
Balance			368,000
Impairment Charges [Member]
Cumulative cost incurred		1,272,000
Balance
Period charges			1,272,000
Cash paid, net of receipts			(1,272,000)
Period reversals
Balance
Other Restructuring [Member]
Cumulative cost incurred		179,000
Balance		57,000
Period charges		122,000	57,000
Cash paid, net of receipts		(179,000)
Period reversals
Balance			$ 57,000

Note 16 - Benefit Plan (Details Textual) - USD ($)	12 Months Ended
Note 16 - Benefit Plan (Details Textual) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3.00%
Defined Contribution Plan, Cost	$ 96,000	$ 140,000	$ 124,000
Defined Contribution Plan, Administrative Expense	$ 10,000	$ 14,000	$ 9,000

Note 17 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
Note 17 - Income Taxes (Details Textual) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Operating Loss Carryforwards, Annual Limitations	$ 3,200,000	$ 62,000
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	8,600,000	(35,300,000)	$ 25,700,000
Unrecognized Tax Benefits, Ending Balance	1,281,000	851,000	1,582,000	$ 1,404,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total	0	0	0
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total	51,600,000	18,000,000	92,300,000
Domestic Tax Authority [Member] \| Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	$ 900,000	100,000	3,000,000
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member]
Open Tax Year	2017 2048 2019 2020
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total	$ 26,800,000	1,600,000	76,900,000
Open Tax Year	2016 2017 2018 2019 2020
State and Local Jurisdiction [Member] \| Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	$ 3,400,000	$ 2,700,000	$ 2,300,000
Foreign Tax Authority [Member]
Open Tax Year	2015 2016 2017 2018 2019 2020
Foreign Tax Authority [Member] \| Australian Taxation Office [Member]
Operating Loss Carryforwards, Total	$ 6,800,000

Note 17 - Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal
State	3	2	3
Foreign	235	488	106
Total Current	238	490	109
Deferred:
Federal
State
Foreign
Total Deferred
Provision for income taxes	$ 238	$ 490	$ 109

Note 17 - Income Taxes - Components of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net operating loss carry-forwards	$ 14,161	$ 6,924	$ 43,822
Research and development tax credits	2,497	1,591	3,357
Capitalized research and development	4,534	4,773	2,326
Sale of future royalties	7,178	7,486	8,383
Lease Liability	1,695	492
Accruals, reserves and other	1,327	1,253	714
Total deferred tax assets	31,392	22,519	58,602
Valuation allowance	(21,952)	(13,365)	(48,626)
Deferred tax assets net of valuation allowance	9,440	9,154	9,976
Intangible assets	(7,832)	(8,730)	(9,976)
Right-of-use assets	(1,608)	(424)
Total deferred tax liabilities	(9,440)	(9,154)	(9,976)
Net deferred tax assets

Note 17 - Income Taxes - Reconciliation of Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S. federal taxes at statutory rate	21.00%	21.00%	21.00%
State taxes (net of federal benefit)	2.90%	0.40%	0.60%
Foreign rate differential	(0.70%)	(2.60%)	3.10%
Global intangible low-taxed income			(8.80%)
Permanently non-deductible items	2.20%	(3.70%)	(2.50%)
Tax credits	2.80%	1.70%	2.10%
Change in valuation allowance	(26.80%)	194.20%	(20.40%)
Tax attributes write-off due to change in control	0.50%	(208.30%)
Prior year true-up	(2.50%)	(0.90%)
NOL and credit adjustments			(3.80%)
Bargain purchase gain			8.10%
Other	(0.10%)	(4.50%)
Provision for income taxes	(0.70%)	(2.70%)	(0.60%)

Note 17 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Beginning Balance	$ 851	$ 1,582	$ 1,404
Additions based on tax positions related to the current year	431	159	181
Decreases related to prior years’ tax positions	(1)	(890)	(3)
Ending Balance	$ 1,281	$ 851	$ 1,582

Note 18 - Net Loss Per Share Attributable to Common Stockholders (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Dilutive Securities, Effect on Basic Earnings Per Share, Total	$ 0	$ 0	$ 0

Note 18 - Net Loss Per Share Attributable to Common Stockholders - Calculation of Basic and Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net loss	$ (13,861)	$ (8,085)	$ (8,977)	$ (1,297)	$ (6,409)	$ (5,260)	$ (5,637)	$ (1,339)	$ (4,902)	$ (6,548)	$ (8,871)	$ 2,314	$ (32,220)	$ (18,645)	$ (18,007)
Series B and C preferred dividend															(339)
Net loss attributable to common stockholders									$ (4,902)	$ (6,548)	$ (8,871)	$ 1,975	$ (32,220)	$ (18,645)	$ (18,346)
Shares used to compute net loss per share – basic and diluted (in shares)													88,295,762	21,569,523	6,316,065
Net loss per share – basic and diluted (in dollars per share)	$ (0.13)	$ (0.08)	$ (0.12)	$ (0.02)	$ (0.13)	$ (0.32)	$ (0.39)	$ (0.18)					$ (0.36)	$ (0.86)	$ (2.90)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

Note 18 - Net Loss Per Share Attributable to Common Stockholders - Summary of Antidilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)	19,183,231	19,163,520	1,261,124
Share-based Payment Arrangement, Option [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)	4,409,806	1,583,575	839,396
Warrant [Member] \| Common Stock [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)	14,773,425	17,579,945	9,658
Warrant [Member] \| Preferred Stock [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)			891
Series B and C Convertible Preferred Stock, Including Cumulative Dividends [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)			213,760
Series A Convertible Preferred Stock [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)			12,260
Convertible Debt Securities [Member]
Potentially dilutive securities excluded from denominator of the diluted earnings per share computation (in shares)			185,159

Note 19 - Quarterly Financial Data (Unaudited) - Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 356	$ 265	$ 523	$ 2,902	$ 3,916	$ 454	$ 85	$ 5,407	$ 1,767	$ 281	$ 608	$ 1,503	$ 4,046	$ 9,862	$ 4,159
Operating expenses	13,717	7,854	9,049	3,596	9,542	5,168	5,082	5,855	5,953	6,161	8,383	5,418	34,216	25,647	25,915
Net loss	$ (13,861)	$ (8,085)	$ (8,977)	$ (1,297)	$ (6,409)	$ (5,260)	$ (5,637)	$ (1,339)	(4,902)	(6,548)	(8,871)	2,314	$ (32,220)	$ (18,645)	$ (18,007)
Net loss per share – basic and diluted (in dollars per share)	$ (0.13)	$ (0.08)	$ (0.12)	$ (0.02)	$ (0.13)	$ (0.32)	$ (0.39)	$ (0.18)					$ (0.36)	$ (0.86)	$ (2.90)
Net income (loss) attributable to common stockholders									$ (4,902)	$ (6,548)	$ (8,871)	$ 1,975	$ (32,220)	$ (18,645)	$ (18,346)
Net income (loss) per share – basic (in dollars per share)									$ (0.69)	$ (0.92)	$ (1.24)	$ 0.54
Net income (loss) per share – diluted (in dollars per share)									$ (0.69)	$ (0.92)	$ (1.24)	$ 0.49

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856