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Note 9 - Subsequent Events
3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Subsequent Events [Text Block]
Note
9
 - Subsequent Events
 
Lease Cancellation
On
April 1, 2020,
the Company provided notice of cancellation of our lease in the Cambridge Innovation Center in Cambridge, Massachusetts, effective on
April 30, 2020. 
 
Share Issuance
On
April 1, 2020,
the Company issued
5,000
shares of stock to a service provider in consideration of services to be provided through
June 30, 2020.
 
Option Issuance
On
April 24, 2020,
the Company granted stock options to a new employee to purchase
50,000
shares of common stock.
 
Warrant Issuance
On
April 24, 2020,
the Company issued a warrant to purchase
500,000
shares of common stock at an exercise price of
$2.27
per share to a related party in conjunction with past and future services provided to the Company. 
 
Separation Agreement with President & CSO
On
April 27, 2020,
Dr. Julien Pham resigned as the Company's President and Chief Scientific Officer. In connection with Dr. Pham’s resignation, the Company entered into a Separation Agreement with him pursuant to which Dr. Pham will continue to comply with certain restrictive covenants and obligations of confidentiality and in return will be entitled to receive (i) payment of
five
months of Dr. Pham’s base salary of
$375,000,
or an aggregate of
$156,250,
(ii) reimbursement for
five
months of insurance coverage under the Consolidated Omnibus Budget Reconciliation Act, if incurred, (iii) accelerated vesting of stock options with time-based vesting that would have vested had Dr. Pham remained employed with the Company, with the total number of shares for which such newly vested options are exercisable being
410,117.
 
License Agreement
On
May 4, 2020,
the Company entered into an exclusive worldwide license agreement with The Board of Regents of the University of Texas System on Behalf of the MD Anderson relating to a portfolio of
16
patent applications and related technology for the treatment of cancer using the Company’s lead drug candidate and immunotherapies.