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Note 10 - Stock-based Compensation | 12 Months Ended
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Dec. 31, 2018
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 10. Stock-Based Compensation 2015 Equity Plan The 2015 Equity Incentive Plan of the Company, as amended in July 2016, currently allows for the issuance of up to a maximum of 33,333 shares of common stock in connection with the grant of stock-based awards, including stock options, restricted stock, restricted stock units, stock appreciation rights and other types of awards as deemed appropriate, not including shares subject to awards assumed in connection with certain transactions. As of December 31, 2018, there were 1,814 shares of Common Stock available for future issuance under the 2015 Equity Incentive Plan. In addition, beginning on January 1, 2017, on each January 1 st through the term of the plan, up to 4.0% of the total shares of the Company’s common stock outstanding as of December 31 st will be added to the plan reserve, unless a lesser amount is stipulated by the Compensation Committee of the Company’s Board of Directors. On January 1, 2019, the maximum number of shares of the 2015 Equity Incentive Plan increased by 135,049 shares, or 4.0% of the total shares of the Company’s common stock outstanding at December 31, 2018. The Company recorded stock-based compensation expense in the following expense categories of its consolidated statements of operations for the periods indicated:
|  | Year ended December 31, |
|  | 2018 |  |  | 2017 |
Research and development |  | $ | 62,161 |  |  | $ | 674,643 |
General and administrative |  |  | 1,159,430 |  |  |  | 716,425 |
Total stock-based compensation expense |  | $ | 1,221,591 |  |  | $ | 1,391,068 |
The following table summarizes the activity related to all stock option grants to employees and non-employees:
|  | Number of Options |  |  | Weighted average exercise price per share |  |  | Weighted average remaining contractual life (in years) |  |  | Aggregate Intrinsic Value |
Balance at January 1, 2017 |  |  | 147,214 |  |  | $ | 121.37 |  |  |  |  |  |  |  |  |
Granted |  |  | 23,345 |  |  |  | 36.92 |  |  |  |  |  |  |  |  |
Expired |  |  | (98 | ) |  |  | 225.00 |  |  |  |  |  |  |  |  |
Balance at January 1, 2018 |  |  | 170,461 |  |  | $ | 109.74 |  |  |  | 7.13 |  |  | $ | 4,746 |
Granted |  |  | 44,005 |  |  |  | 15.37 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (10,583 | ) |  |  | 131.25 |  |  |  |  |  |  |  |  |
Expired |  |  | (147 | ) |  |  | 256.50 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2018 |  |  | 203,736 |  |  | $ | 88.14 |  |  |  | 6.70 |  |  | $ | 143 |
Exercisable at December 31, 2018 |  |  | 167,585 |  |  | $ | 101.69 |  |  |  | 6.25 |  |  | $ | 143 |
Vested and expected to vest at December 31, 2018 |  |  | 203,736 |  |  | $ | 88.14 |  |  |  | 6.70 |  |  | $ | 143 |
Generally, the options have a ten ( 10 ) year contractual term and vest in equal monthly installments over three ( 3 ) years. Non-employee Stock Options Non-employee options are remeasured to fair value each period through operations using a Black-Scholes option-pricing model until the options vest. There were no options granted to non-employees during the year ended December 31, 2018 and there were 626 stock options granted to non-employees during the year ended December 31, 2017. The total fair value of non-employee stock options vested during the years ended December 31, 2018 and 2017 was approximately $4,000 and $90,000, respectively. At December 31, 2018, there was less than $1,000 of unrecognized compensation cost related to 219 unvested stock options and subject to re-measurement until vested. The total unrecognized compensation expense will be recognized as expense over a weighted-average period of 1.16 years. Employee Stock Options The weighted average grant date fair value of stock option awards granted to employees was $12.63 and $30.43 during the years ended December 31, 2018 and 2017, respectively. The total fair value of options vested during the years ended December 31, 2018 and 2017 were $1.2 million and $1.1 million, respectively. No options were exercised during any of the periods presented. At December 31, 2018, there was $0.6 million of unrecognized compensation cost related to unvested options that will be recognized as expense over a weighted-average period of 1.4 years. The grant date fair value of employee stock options is determined using the Black-Scholes model. The following assumptions were used during the years ended December 31, 2018 and 2017:
|  | 2018 |  |  | 2017 |
Expected term (in years) |  | 5.27 | — | 5.66 |  |  | 5.27 | — | 6.00 |
Risk-free interest rate |  | 2.3% | — | 2.8% |  |  | 1.8% | — | 2.4% |
Expected volatility |  | 113.6% | — | 115.0% |  |  | 109.8% | — | 136.7% |
Dividend yield |  | — | — | — |  |  | — | — | — |
Restricted Stock Awards As of December 31, 2018, there were no unvested shares of restricted stock. During the year ended December 31, 2018 and 2017, 204 and 409 shares vested, respectively. The fair value as of the respective vesting dates of the restricted stock awards was $6,000 and $12,000 for 2018 and 2017, respectively. There were no restricted stock awards granted in 2018 or 2017.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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