Note 10 - Subsequent Events

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Subsequent Events [Text Block]

10.

 

Subsequent Events

Following the release of top-line data from the PATENCY-

2

clinical trial of vonapanitase, the Company began to evaluate its strategic alternatives focusing on enhancing stockholder value, including the possibility of a merger or sale of the Company. On

April 15, 2019,

the Company announced the engagement of H.C. Wainwright & Co., LLC as its financial advisor to assist in the strategic review process.

As a result of these strategic alternatives and in connection with the Company’s discontinuation of research and development activities, the Company has terminated or expects to terminate all but

four

of its employees by the end of

May

2019.In

2019,

the Company expects to incur severance costs of between

$3.0

million and

$3.2

million.