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Note 16 - Subsequent Events
3 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Subsequent Events [Text Block]

Note 16. Subsequent Events

 

Other than as described above under Note 13 and Note 15, on April 9, 2024, we announced our entrance into the first subaward (the “Subaward”) under the  October 2023 grant (“the NIH Grant”) awarded from the National Institute of Health (“NIH”) to us, in collaboration with Columbia University, the prime awardee, and Synapticure, a neurology specialty health clinic. The NIH Grant will support a four-year Expanded Access Program (the “NIH EAP”) for CNM-Au8 treatment of ALS. Of the $45.1 million total award, subawards to us may total up to $30.9 million in aggregate and may extend to August 31, 2027. The Subaward represents an amount of up to $7.3 million of grant funds that may be paid to us as reimbursement for our expenses incurred for the NIH EAP during the period from September 25, 2023 to August 31, 2024. Future subawards for the remainder of the up to $30.9 million will be governed by future agreements or addendums. Since September 25, 2023 to date, we incurred $3.1 million of qualifying expenses that we will request for reimbursement under the Subaward and will be recorded as a reduction of research and development expenses.