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Note 5 - Derivative Liabilities
9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Derivative Instruments and Hedging Activities Disclosure [Text Block]
NOTE
5
- DERIVATIVE LIABILITIES
 
In connection with the consummation of the Merger completed on
February 12, 2016,
the Company issued warrants to purchase
295,945
shares of Series B Preferred Stock at
$1.25
per share to Strategic Bio Partners for debt cancellation. In addition, upon the closing of the private placement transactions in
April 2016,
the Company issued
127,346
warrants, to the placement agent of the private offering to purchase the Company’s Series B Preferred Stock with an exercise price of
$1.25
and a
five
-year term. The warrants have a cashless exercise feature that requires the Company to classify the warrants as derivative liabilities.