XML 39 R10.htm IDEA: XBRL DOCUMENT v3.20.1
Note 4 - Liquidity and Business Plan
3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Substantial Doubt about Going Concern [Text Block]
4.
     Liquidity and
Business
Plan
 
We need to obtain additional funds to continue our operations and execute our current business plans. We
may
seek to raise additional funds through various sources, such as equity and debt financings, or through strategic collaborations and license agreements. We can give
no
assurances that we will be able to secure additional sources of funds to support our operations, or if such funds are available to us, that such additional financing will be sufficient to meet our needs or on terms acceptable to us. This risk would increase if our clinical data is inconclusive or
not
positive or economic conditions worsen in the market as a whole or in the pharmaceutical or biotechnology markets individually.
 
If we are unable to obtain additional financing, we believe that we will need to reduce our operations by taking actions that
may
include, among other things, reducing use of outside professional service providers, reducing staff or further reducing staff compensation, significantly modifying or delaying the development of our SBP-
101
product candidate, licensing rights to
third
parties, including the right to commercialize our SBP-
101
product candidate for pancreatic cancer, or other applications that we would otherwise seek to pursue, or discontinuing operations entirely.
 
Our future success is dependent upon our ability to obtain additional financing, the success of our development efforts, our ability to obtain marketing approval for our SBP-
101
product candidate in the United States or other markets and ultimately our ability to market and sell our SBP-
101
product candidate. If we are unable to obtain additional financing when needed, if our clinical trials are
not
successful or if we are unable to obtain marketing approval, we would
not
be able to continue as a going concern and would be forced to cease operations and liquidate our company.
 
There can be
no
assurances that we will be able to obtain additional financing on commercially reasonable terms, or at all. The sale of additional convertible debt or equity securities would likely result in dilution to our current stockholders.