Note O - Severance Expense

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

O. Severance Expense

On

 

September

15,

2016,

 the Company announced its intention to defer its commercial operations and realign its financial resources and operational priorities towards its product development pipeline. The activities related to the deferral and realignment were completed during the year ended 

December

31,

2016.

As part of these activities, the Company reduced its workforce by 

three

employees. Personnel and other related charges of approximately

$1.1

million and stock compensation expense of approximately

$1.9

million related to the acceleration of vesting on certain stock options, related to the workforce reduction, are presented as severance expense in the statements of operations. As of 

December

31,

2016,

the Company had accrued severance expense recorded within accounts payable and accrued expenses in the amount of

$0.6

million.