Note 2 - Liquidity	12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	NOTE 2. LIQUIDITY The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of business. The propriety of using the going-concern basis is dependent upon, among other things, the achievement of future profitable operations, the ability to generate sufficient cash from operations and potential other funding sources, in addition to cash on-hand, to meet its obligations as they become due. The Company has not generated any revenue from sale of products and has incurred operating losses in each year since it commenced operations. As of December 31, 2020, the Company had an accumulated deficit of $102.1 million. The Company expects to continue to incur significant operating expenses and operating losses for the foreseeable future as the Company continues the development and commercialization of VAZALORE. As of December 31, 2020, the Company had working capital of $19.4 million, including cash and cash equivalents of $22.4 million. In addition, in March 2019, the Company entered into an equity distribution agreement (the “Equity Distribution Agreement”) with JMP Securities, Inc. (“JMP”) to issue and sell shares of its common stock, having an aggregate offering price of up to $12.5 million, from time to time during the term of the Equity Distribution Agreement, through an “at-the-market” equity offering program (the “ATM Offering”) at the Company's sole discretion, under which JMP acted as its agent.. At December 31, 2020, the Company had $10.2 million available under this ATM Offering. Effective March 2, 2021, the Equity Distribution Agreement and the ATM Offering were terminated. On March 5, 2021 the Company completed an underwritten public offering (the “Public Offering”), in which the Company issued and sold 7,875,000 shares of its common stock at a price to the public of $8.00 per share. Gross proceeds of the Public Offering were $63 million before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The underwriters retained a 30 -day option to purchase up to 1,181,250 shares of common stock at the public offering price, less underwriting discounts and commission. Although these losses and expected losses give rise to substantial doubt, the Company's cash on hand at December 31, 2020 combined with the net proceeds from the Public Offering support that the Company can fund its obligations for at least one year from the date these financial statements were issued and mitigate the substantial doubt consideration.

NOTE

LIQUIDITY

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of business. The propriety of using the going-concern basis is dependent upon, among other things, the achievement of future profitable operations, the ability to generate sufficient cash from operations and potential other funding sources, in addition to cash on-hand, to meet its obligations as they become due.

The Company has

not

generated any revenue from sale of products and has incurred operating losses in each year since it commenced operations. As of

December 31, 2020,

the Company had an accumulated deficit of

$102.1

million. The Company expects to continue to incur significant operating expenses and operating losses for the foreseeable future as the Company continues the development and commercialization of VAZALORE. As of

December 31, 2020,

the Company had working capital of

$19.4

million, including cash and cash equivalents of

$22.4

million. In addition, in

March 2019,

the Company entered into an equity distribution agreement (the “Equity Distribution Agreement”) with JMP Securities, Inc. (“JMP”) to issue and sell shares of its common stock, having an aggregate offering price of up to

$12.5

million, from time to time during the term of the Equity Distribution Agreement, through an “at-the-market” equity offering program (the “ATM Offering”) at the Company's sole discretion, under which JMP acted as its agent.. At

December 31, 2020,

the Company had

$10.2

million available under this ATM Offering. Effective

March 2, 2021,

the Equity Distribution Agreement and the ATM Offering were terminated.

March 5, 2021

the Company completed an underwritten public offering (the “Public Offering”), in which the Company issued and sold

7,875,000

shares of its common stock at a price to the public of

$8.00

per share. Gross proceeds of the Public Offering were

$63

million before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The underwriters retained a

-day option to purchase up to

1,181,250

shares of common stock at the public offering price, less underwriting discounts and commission.

Although these losses and expected losses give rise to substantial doubt, the Company's cash on hand at

December 31, 2020

combined with the net proceeds from the Public Offering support that the Company can fund its obligations for at least

one

year from the date these financial statements were issued and mitigate the substantial doubt consideration.