Note 6 - Revenue	12 Months Ended
Dec. 31, 2023
Notes to Financial Statements
Revenue [Text Block]	NOTE 6. Revenue Royalty agreement The Company generates royalty revenue from the sale of Inavir in Japan, pursuant to a collaboration and license agreement that Aviragen entered into with Daiichi Sankyo, in 2009. In September 2010, laninamivir octanoate was approved for sale by the Japanese Ministry of Health and Welfare for the treatment of influenza in adults and children, which Daiichi Sankyo markets as Inavir. Under the agreement, the Company currently receives a 4% royalty on net sales of Inavir in Japan. The last patent related to Inavir is set to expire in December 2029 in Japan, at which time royalty revenue will cease. The royalty revenue related to Inavir recognized for the years ended December 31, 2023 and 2022, was zero. The Company recognized non-cash royalty revenue related to sale of future royalties of $3.9 million and $0.1 million for the years ended December 31, 2023 and 2022, respectively (see Note 7). Both the royalty revenue and the non-cash royalty revenue related to sale of future royalties have been subjected to a 5% withholding tax in Japan, for which $0.2 million and $5,000 was included in income tax expense in the years ended December 31, 2023 and 2022, respectively. Grant Revenue In November 2022, the Company accepted the $3.5 million BMGF Grant to perform research and development work for the Bill & Melinda Gates Foundation and received $2.0 million in advance that was recorded as restricted cash and deferred revenue. The Company received an additional $1.5 million in July 2023 upon completion of certain milestones. The Company recognizes revenue under research contracts only when a contract has been executed and the contract price is fixed or determinable. Revenue from the BMGF Grant is recognized in the period during which the related costs are incurred and the related services are rendered, provided that the applicable conditions under the contract have been met. Costs of contract revenue are recorded as a component of operating expenses in the consolidated statements of operations and comprehensive loss. The Company recognized revenue from the BMGF Grant of $3.5 million and zero for the years ended December 31, 2023 and 2022, respectively. As December 31, 2023 and 2022, restricted cash and deferred revenue were zero and $2.0 million, respectively.

Note 6 - Revenue

12 Months Ended

Dec. 31, 2023

NOTE 6. Revenue

Royalty agreement

The Company generates royalty revenue from the sale of Inavir in Japan, pursuant to a collaboration and license agreement that Aviragen entered into with Daiichi Sankyo, in 2009. In September 2010, laninamivir octanoate was approved for sale by the Japanese Ministry of Health and Welfare for the treatment of influenza in adults and children, which Daiichi Sankyo markets as Inavir. Under the agreement, the Company currently receives a 4% royalty on net sales of Inavir in Japan. The last patent related to Inavir is set to expire in December 2029 in Japan, at which time royalty revenue will cease. The royalty revenue related to Inavir recognized for the years ended December 31, 2023 and 2022, was zero. The Company recognized non-cash royalty revenue related to sale of future royalties of $3.9 million and $0.1 million for the years ended December 31, 2023 and 2022, respectively (see Note 7). Both the royalty revenue and the non-cash royalty revenue related to sale of future royalties have been subjected to a 5% withholding tax in Japan, for which $0.2 million and $5,000 was included in income tax expense in the years ended December 31, 2023 and 2022, respectively.

Grant Revenue

In November 2022, the Company accepted the $3.5 million BMGF Grant to perform research and development work for the Bill & Melinda Gates Foundation and received $2.0 million in advance that was recorded as restricted cash and deferred revenue. The Company received an additional $1.5 million in July 2023 upon completion of certain milestones. The Company recognizes revenue under research contracts only when a contract has been executed and the contract price is fixed or determinable. Revenue from the BMGF Grant is recognized in the period during which the related costs are incurred and the related services are rendered, provided that the applicable conditions under the contract have been met. Costs of contract revenue are recorded as a component of operating expenses in the consolidated statements of operations and comprehensive loss. The Company recognized revenue from the BMGF Grant of $3.5 million and zero for the years ended December 31, 2023 and 2022, respectively. As December 31, 2023 and 2022, restricted cash and deferred revenue were zero and $2.0 million, respectively.