Note 11 - Grants and Collaboration Revenue

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Government Grants and Contracts [Text Block]

11.

        Grants and Collaboration Revenue

We receive payments from government entities under our grants and contracts with the National Institute of Allergy and Infectious Diseases (NIAID) in support of our vaccine research and development efforts. We record revenue associated with government grants and contracts as the reimbursable costs are incurred. During the

three

-month and

six

-month periods ended

June 30, 2018,

we recorded

$93,265

and

$309,564,

respectively, of revenues associated with these grants and contracts, as compared to

$257,137

and

$552,872,

respectively, for the comparable periods of

2017.

As of

June 30, 2018,

there is an aggregate of

$771,951

in approved grant and contract funds available for use.

During the

first

quarter of

2018,

we recorded

$5,000

of revenue associated with a collaboration with the U.S. Naval Research Laboratory (USNRL) for development of high-quality antibodies useful for detection of Lassa virus.

In

March 2017,

we entered into a clinical trial collaboration agreement with American Gene Technologies International, Inc. (“AGT”) whereby AGT intends to conduct a phase

1

human clinical trial investigating our combined technologies as a functional cure for HIV infection. In connection with the agreement, during the

second

quarter of

2017

AGT paid to us a non-refundable upfront fee of

$95,000

,

which we recorded as collaboration revenue during the

three

and

six

-month periods ended

June 30, 2017.