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Note 9 - Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Notes Tables |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
Deferred tax assets |  | December 31, 2020 |  |  | December 31, 2019 |
Net operating loss carryforwards |  | $ | 3,864,189 |  |  | $ | 1,504,496 |
Stock-based compensation |  |  | 1,571,227 |  |  |  | 1,381,750 |
Orphan Drug credits |  |  | 541,384 |  |  |  | 81,700 |
Lease liability |  |  | 38,394 |  |  |  | 63,589 |
Capitalized start-up costs and other |  |  | 10,709,631 |  |  |  | 9,187,898 |
Valuation allowance |  |  | (14,906,646 | ) |  |  | (12,051,440 | )
Deferred tax assets |  |  | 1,818,179 |  |  |  | 167,993 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Intangible assets |  |  | (2,223,678 | ) |  |  | (2,223,678 | )
Right of use asset |  |  | (38,394 | ) |  |  | (63,589 | )
Deferred tax liabilities |  |  | (2,262,072 | ) |  |  | (2,287,267 | )
Net deferred tax liability |  | $ | (443,893 | ) |  | $ | (2,119,274 | )
Summary of Operating Loss Carryforwards [Table Text Block] |
Combined NOL Carryforwards: |  | December 31, 2020 |  |  | December 31, 2019 |
Federal |  | $ | 15,013,388 |  |  | $ | 5,844,972 |
State |  |  | 15,007,966 |  |  |  | 5,844,972 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
Rate reconciliation: |  | December 31, 2020 |  |  | December 31, 2019 |
Federal tax benefit at statutory rate |  |  | (21.0 | )% |  |  | (21.0 | )%
State tax, net of Federal benefit |  |  | (4.7 | )% |  |  | (2.5 | )%
Orphan drug credit |  |  | (2.9 | )% |  |  | 25.3 | %
Change in valuation allowance |  |  | 18.1 | % |  |  | (7.5 | )%
Stock compensation |  |  | — | % |  |  | 8.6 | %
Other |  |  | — | % |  |  | 0.1 | %
Total provision |  |  | (10.5 | )% |  |  | 3.0 | %

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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