Note 13 - Subsequent Events

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Subsequent Events [Text Block]

( 13 ) Subsequent Events

On

April 12, 2021,

all parties to the Litigation entered into a confidential settlement agreement. All claims in the Litigation have been dismissed. The settlement did

not

result in any material benefit or liability to the Company. The Company expects to terminate the Funding Agreement once all remaining matters thereunder are concluded.

On

April 26, 2021,

the Company issued a press release announcing that it has entered into an agreement with a leading Japanese biotechnology company related to the Company's Helix catheter biotherapeutic delivery product candidates. This is the

second

new biotherapeutic delivery partnership for the Company in

2021.

Under the terms of the agreement, the Company will receive

$500,000,

a portion of which is creditable for biotherapeutic delivery products and support services. The agreement has a

one

-year term with an option for the Japanese biotechnology company to negotiate a non-exclusive worldwide license for therapeutic delivery of certain cell types for cardiac indications.