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Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with GAAP for interim financial information as found in the ASC and ASUs of the FASB, and with the instructions to Form

10

-Q and Article

10

of Regulation S-

X

promulgated by the SEC. In the opinion of management, the accompanying unaudited interim consolidated financial statements of the Company include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited interim consolidated financial statements) considered necessary to present fairly the Company's financial position as of 

March 

31,

2021,

and its results of operations and cash flows for the

three

months ended

March 

31,

2021

and

2020.

Operating results for the

three

months ended 

March 

31,

2021

are

not

necessarily indicative of the results that

may

be expected for the year ending

December 

31,

2021.

The unaudited interim consolidated financial statements presented herein do

not

contain the required disclosures under GAAP for annual financial statements. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the annual audited financial statements and related notes as of and for the year ended

December 

31,

2020

filed with the SEC as part of the Company's Annual Report on Form

10

-K on

March 16, 2021.

Use of Estimates, Policy [Policy Text Block]

Use of Estimate

The preparation of unaudited interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date the financial statements and reported amounts of expense during the reporting period. The COVID-

19

pandemic had

no

material impact on the Company's estimates and assumptions used in the preparation of the unaudited interim consolidated financial statements for the quarterly period ended

March 31, 2021.

However, the full extent to which the ongoing COVID-

19

pandemic will directly or indirectly impact the Company's business, results of operations and financial condition, including sales, expenses, reserves and allowances, clinical studies, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that

may

emerge concerning COVID-

19,

governmental and business responses to the pandemic, further actions taken to contain or treat COVID-

19,

the ongoing economic impact on local, regional, national and international markets, and the speed of the anticipated economic recovery. Due to the uncertainty of factors surrounding these estimates or judgments, actual results

may

materially vary from estimates. Estimates and assumptions are periodically reviewed, and the effects of revisions are reflected in the unaudited interim consolidated financial statements in the period they are determined. The Company's future assessment of the magnitude and duration of COVID-

19,

as well as other factors, could result in material impacts to the consolidated financial statements in future reporting periods.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments

The carrying amounts of the Company's financial instruments, including cash equivalents and accounts payable, approximate fair value due to the short-term nature of those instruments.         

Goodwill and Intangible Assets, Policy [Policy Text Block]

Intangible Asset

The Company's DFN-

529

(formerly RES-

529

) intangible asset is assessed for impairment annually on

October 1

of the Company's fiscal year or more frequently if impairment indicators exist. There was

no

impairment to the Company's DFN-

529

intangible asset recognized during the

three

months ended

March 

31,

2021

and

2020.

Earnings Per Share, Policy [Policy Text Block]

Net Loss Per Common Share

Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during each period. Diluted net loss per share includes the effect, if any, from the potential exercise or conversion of securities, such as convertible debt, convertible preferred stock, common stock warrants, stock options and unvested restricted stock that would result in the issuance of incremental shares of common stock. In computing the basic and diluted net loss per share applicable to common stockholders, the weighted average number of shares remains the same for both calculations due to the fact that when a net loss exists, dilutive shares are

not

included in the calculation as the impact is anti-dilutive.

The following potentially dilutive securities outstanding as of

March 

31,

2021

and

2020

have been excluded from the computation of diluted weighted average shares outstanding, as they would be anti-dilutive:

		March 31,
		2021				2020
Common stock warrants			6,553,039				21,261,070
Stock options			3,116,819				1,182,629
Unvested restricted stock awards			153,000				98,100
			9,822,858				22,541,799

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Pronouncements

In

December 2019,

the FASB issued ASU

No.

2019

-

12,

Income Taxes (Topic

740

):

Simplifying the Accounting for Income Taxes

. This guidance applies to all entities and aims to reduce the complexity of tax accounting standards while enhancing reporting disclosures. This guidance is effective for fiscal years beginning after

December 15, 2020

and interim periods therein. The Company adopted ASU

No.

2019

-

12

in the

first

quarter of

2021

and the adoption did

not

have a material impact on the Company's consolidated financial statements.

X

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