Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

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

Deferred tax assets	December 31, 2019			December 31, 2018
Net operating loss carryforwards	$	1,504,496		$	5,875,074
Stock option compensation		1,381,750			2,456,410
Orphan Drug credits		81,700			2,847,803
Lease liability		63,589
Capitalized start-up costs and other		9,187,898			7,349,092
Valuation allowance		(12,051,440	)		(18,091,090	)
Deferred tax assets		167,993			437,289
Deferred tax liabilities
Intangible assets		(2,223,678	)		(2,223,678	)
Right of use asset		(63,589	)		—
Deferred tax liabilities		(2,287,267	)		(2,223,678	)
Net deferred tax liability	$	(2,119,274	)	$	(1,786,389	)

Summary of Operating Loss Carryforwards [Table Text Block]

Combined NOL Carryforwards:	December 31, 2019		December 31, 2018
Federal	$	5,844,972	$	22,819,972
State		5,844,972		22,845,568

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

Rate reconciliation:	December 31, 2019			December 31, 2018
Federal tax benefit at statutory rate		(21.0	)%		(21.0	)%
State tax, net of Federal benefit		(2.5	)%		(2.9	)%
Goodwill impairment		—	%		7.7	%
Orphan drug credit		25.3	%		(1.3	)%
Change in valuation allowance		(7.5	)%		15.2	%
Stock compensation		8.6	%		—	%
Other		0.1	%		—	%
Total provision		3.0	%		(2.3	)%