Note J - Severance Expense

9 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

J. Severance Expense

On 

August 31, 2018, 

Daniel L. Cohen resigned from his position as the executive vice president, government and public relations of the Company, effective immediately. In connection with his resignation, Mr. Cohen and the Company entered into a separation and release agreement which included among other items, severance benefits. The severance benefits consisted of personnel and other related charges of approximately

$0.4

million and stock compensation expense of approximately

$1.2

million related to the acceleration of vesting on unvested shares subject to certain stock options and the extension of the exercise period for certain stock options. These severance benefits are presented as severance expense in the condensed statements of operations. As of

September 30, 2018,

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

$0.3

million.