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Note 8 - Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2016

Notes Tables

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

		Three Months Ended June 30 ,								Six Months Ended June 30 ,
		201 6				2015				2016				201 5
Research and development		$	184,051			$	79,626			$	426,328			$	119,582
General and administrative			154,111				57,099				305,305				112,999
Total stock-based compensation expense		$	338,162			$	136,725			$	731,633			$	232,581

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

		Number of Options				Weighted average exercise price per share				Weighted average remaining contractual life (in years)
Balance at January 1, 2016			14,955,753			$	0.39
Assumed in connection with Merger			3,011,498				4.02
Cancelled			(481,885	)			6.13
Granted			393,750				0.96
Outstanding at June 30, 2016			17,879,116			$	0.86				7.8
Exercisable at June 30, 2016			12,657,098			$	1.00				7.3
Vested and expected to vest at June 30, 2016			17,858,930			$	0.86				7.8

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Weighted average grant date fair value		$	0.78
Expected term (in years)			5.77
Risk-free interest rate			1.4	%
Expected volatility			106.8	%
Dividend yield			0	%

X

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References

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- Definition

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