Note 6 - Commitments

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Commitments Disclosure [Text Block]

6 . Commitments

Lease Agreement

We lease approximately

8

,400

square feet of office and laboratory space pursuant to an operating lease which expires on

December 31, 2018.

Rent expense for the years ended

December 31, 2017,

2016

and

2015

was

$151,748,

$149,288,

and

$146,092,

respectively. Future minimum lease payments total

$156,545

in

2018.

Other Commitments

In the normal course of business, we

may

enter into various firm purchase commitments related to production and testing of our vaccine material, conduct of clinical trials, and other research-related act

ivities. As of

December 31, 2017,

we had approximately

$79,000

of unrecorded outstanding purchase commitments to our vendors and subcontractors, all of which we expect will be due in

2018.

We expect this entire amount to be reimbursable to us pursuant to currently outstanding government grants.