View Filing Data

Print Document View Excel Document

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2019	May 09, 2019
Document Information [Line Items]
Entity Registrant Name	ATOSSA GENETICS INC
Entity Central Index Key	0001488039
Trading Symbol	atos
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		9,124,732
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 19,568,247	$ 10,380,493
Restricted cash	110,000	110,000
Prepaid expenses	835,468	509,833
Research and development tax rebate receivable	237,856	518,098
Other current assets	27,957	30,942
Total current assets	20,779,528	11,549,366
Furniture and equipment, net	48,212	54,487
Intangible assets, net	91,667	99,375
Right-of-use asset	88,103
Other assets	17,218	17,218
Total Assets	21,024,728	11,720,446
Current liabilities
Accounts payable	463,970	353,328
Accrued expenses	74,844	177,074
Payroll liabilities	891,758	935,070
Stock-based compensation liability		1,410,025
Lease liability	50,706
Other current liabilities	9,863	39,939
Total current liabilities	1,491,141	2,915,436
Long term liabilities
Lease liability long term	37,397
Total Liabilities	1,528,538	2,915,436
Commitments and contingencies (note 11)
Stockholders' equity
Preferred stock - $0.001 par value; 10,000,000 shares authorized; 702 and 2,379 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	1	2
Additional paid-in capital- Series B convertible preferred stock	701,999	2,378,997
Common stock - $0.18 par value; 175,000,000 shares authorized, and 9,122,171 and 5,846,552 shares issued and outstanding, as of March 31, 2019 and December 31, 2018, respectively	1,641,979	1,052,372
Additional paid-in capital	98,056,781	82,204,902
Accumulated deficit	(80,904,570)	(76,831,263)
Total Stockholders' Equity	19,496,190	8,805,010
Total Liabilities and Stockholders' Equity	$ 21,024,728	$ 11,720,446

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	702	2,379
Preferred stock, outstanding (in shares)	702	2,379
Common stock, par value (in dollars per share)	$ 0.18	$ 0.18
Common stock, authorized (in shares)	175,000,000	175,000,000
Common stock, issued (in shares)	9,122,171	5,846,552
Common stock, outstanding (in shares)	9,122,171	5,846,552

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating expenses
Research and development	$ 1,451,236	$ 470,976
General and administrative	2,613,093	1,403,465
Total operating expenses	4,064,329	1,874,441
Operating loss	(4,064,329)	(1,874,441)
Other income (expense)	(8,978)	59
Loss before income taxes	(4,073,307)	(1,874,382)
Income taxes	0	0
Net loss	$ (4,073,307)	$ (1,874,382)
Loss per common share - basic and diluted (in dollars per share)	$ (0.62)	$ (8.48)
Weighted average shares outstanding - basic and diluted (in shares)	6,565,514	220,996

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member] Series B Convertible Preferred Stock [Member]	Preferred Stock Additional Paid-in Capital [Member] Series B Convertible Preferred Stock [Member]	Common Stock [Member]	Common Stock Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2017			220,996
Balance at Dec. 31, 2017			$ 477,342	$ 71,887,674	$ (65,426,329)	$ 6,938,687
Amortization of commitment shares				(19,852)		(19,852)
Compensation cost for stock options granted				215,139		215,139
Net loss					(1,874,382)	(1,874,382)
Balance (in shares) at Mar. 31, 2018			220,996
Balance at Mar. 31, 2018			$ 477,342	72,082,961	(67,300,711)	5,259,592
Balance (in shares) at Dec. 31, 2018	2,379		5,846,552
Balance at Dec. 31, 2018	$ 2	2,378,997	$ 1,052,372	82,204,902	(76,831,263)	8,805,010
Amortization of commitment shares
Compensation cost for stock options granted				275,833		275,833
Net loss					(4,073,307)	$ (4,073,307)
Issuance of common stock upon warrant exercise (in shares)			2,799,188			2,800,000
Issuance of common stock upon warrant exercise			$ 503,854	10,832,856		$ 11,336,710
Conversion of Series B convertible preferred stock to common stock (in shares)	(1,677)
Conversion of Series B convertible preferred stock to common stock	$ (1)
Conversion of Series B convertible preferred stock to common stock		(1,676,998)	$ 85,753	1,591,246
Conversion of Series B convertible preferred stock to common stock (in shares)			476,431
Reclassification of stock-based liability awards to equity upon cancellation				3,151,944		3,151,944
Balance (in shares) at Mar. 31, 2019	702		9,122,171
Balance at Mar. 31, 2019	$ 1	$ 701,999	$ 1,641,979	$ 98,056,781	$ (80,904,570)	$ 19,496,190

Condensed Consolidated Statements of Cash Flows (Unaudied) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (4,073,307)	$ (1,874,382)
Adjustments to reconcile net loss to net cash used in operating activities
Compensation cost for stock options granted	275,833	215,139
Depreciation and amortization	13,983	7,864
Change in fair value of stock-based compensation liability	1,741,919
Changes in operating assets and liabilities:
Prepaid expenses	(325,635)	(244,723)
Research and development tax rebate receivable	280,242	(37,595)
Other assets	2,985	51,512
Accounts payable	110,642	(166,554)
Payroll liabilities	(43,312)	(428,440)
Accrued expenses	(102,230)	82,508
Other current liabilities	(30,076)	7,789
Net cash used in operating activities	(2,148,956)	(2,386,882)
CASH FLOWS FROM INVESTING ACTIVITY
Purchase of furniture and equipment		(51,068)
Net cash used in investing activities		(51,068)
CASH FLOWS FROM FINANCING ACTIVITY
Proceeds from exercise of warrants	11,336,710
Net cash provided by financing activities	11,336,710
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	9,187,754	(2,437,950)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE	10,490,493	7,272,469
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE	19,678,247	4,834,519
SUPPLEMENTAL DISCLOSURES
Cash and cash equivalents	19,568,247	4,779,519
Restricted cash	110,000	55,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE	19,678,247	4,834,519
NONCASH INVESTING AND FINANCING ACTIVITIES
Reclassification of stock-based liability awards to equity upon cancellation	3,151,944
Amortization of commitment shares		$ 19,852

Note 1 - Nature of Operations	3 Months Ended
Note 1 - Nature of Operations	Mar. 31, 2019
Notes to Financial Statements
Nature of Operations [Text Block]	NOTE 1: NATURE OF OPERATIONS Atossa Genetics Inc. (the “Company”) was incorporated on April 30, 2009 in the State of Delaware. The Company was formed to develop and market medical devices, laboratory tests and therapeutics to address breast health conditions. The Company’s fiscal year ends on December 31. The Company is focused on development of its pharmaceutical and drug delivery programs.

Note 2 - Liquidity and Capital Resources	3 Months Ended
Note 2 - Liquidity and Capital Resources	Mar. 31, 2019
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	NOTE 2: LIQUIDITY AND CAPITAL RESOURCES The Company has incurred net losses and negative operating cash flows since inception. For the three months ended March 31, 2019, the Company recorded a net loss of approximately $4.1 million and used approximately $2.1 million of cash in operating activities. As of March 31, 2019, the Company had approximately $19.6 million in cash and cash equivalents and working capital of approximately $19.3 million. The Company has not yet established an ongoing source of revenue sufficient to cover its operating costs and is currently expending funds in research and development activities that are expected to continue to require funding. Management believes the currently available funding will be sufficient to finance the Company’s operations for at least one year from the date of these Condensed Consolidated Financial Statements. However, the Company will likely require additional funding to continue its activities beyond that date. If adequate funds are not available, the Company may be required to reduce the scope, delay, or eliminate some or all of its planned commercial activities. The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the settlement of liabilities in the normal course of business. The condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from uncertainty related to the Company’s ability to continue as a going concern.

Note 3 - Summary of Accounting Policies	3 Months Ended
Note 3 - Summary of Accounting Policies	Mar. 31, 2019
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	NOTE 3: SUMMARY OF ACCOUNTING POLICIES Basis of Presentation: The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10 -Q and Rule 10 - 01 of Regulation S- X. They do not include all information and notes required by GAAP for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the Notes to Consolidated Financial Statements included in the Annual Report on Form 10 -K of the Company for the year ended December 31, 2018. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2019, are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. Use of Estimates: The preparation of 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 contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Recently Adopted Accounting Pronouncements: In the first quarter of 2019, we adopted Accounting Standards Update (“ASU”) No. 2016 - 02, Lease Accounting Topic 842 : (" Topic 842 ") and recognized on our Condensed Consolidated Balance Sheet $101,000 of lease liabilities with corresponding right-of-use assets for operating leases. The new lease standard requires a lessee to measure its operating lease liabilities at the present value of the remaining minimum lease payments with a discounted cash flow model using the interest rate implicit in the lease. If the implicit interest rate cannot be readily determined, the lessee must use its incremental borrowing rate (“IBR”). If the lessee does not have an IBR, the lessee must use a rate that approximates the rate of interest that the lessee would have to pay to borrow on a collateralized basis over a similar term in an amount equal to the lease payments in a similar economic environment. The implicit interest rate was readily determinable for our copier lease; however, we used an IBR to measure our adoption date operating lease liability related to our office space which rate represents our estimated borrowing rate on a secured loan collateralized by similar assets for a similar term. The adoption did not have an impact on the Condensed Consolidated Statements of Cash Flows. As permitted under the standard, we elected prospective application of the new guidance and prior periods continue to be presented in accordance with Accounting Standards Codification ("ASC") Topic 840. Refer to our 2018 Annual Report on Form 10 -K for disclosures required by Topic 840. The new standard provides a number of optional practical expedients in transition. We elected the practical expedients to not reassess its prior conclusions about lease identification under the new standard, to not reassess lease classification, and to not reassess initial direct costs. We did not elect the practical expedient allowing the use-of-hindsight which would require us to reassess the lease term of its leases based on all facts and circumstances through the effective date and did not elect the practical expedient pertaining to land easements as this is not applicable to our current contract portfolio. See Note 11, Commitments and Contingencies, of the notes to our unaudited condensed consolidated financial statements for additional discussion of our leases and the amounts recognized in these unaudited condensed consolidated financial statements. On January 1, 2019, we adopted ASU 2018 - 08, Not -for-Profit Entities (Topic 958 ): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. This ASU affects not -for-profit entities and business entities that receive or make contributions of cash. The ASU clarifies and improves the scope and accounting guidance to assist entities in evaluating if those transactions should be accounted for as contributions under the scope of Topic 958 or as an exchange transaction subject to other guidance. The adoption did not have any impact on the financial statements. Recent Accounting Pronouncements: In August 2018, the FASB issued ASU No. 2018 - 13, Fair Value Measurement (Topic 820 ): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement , to improve the effectiveness of disclosures. The amendments remove, modify, and add certain disclosure requirements in Topic 820, “Fair Value Measurement.” The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments are effective for fiscal years beginning after December 15, 2019. Early adoption is permitted, including adoption in an interim period. Furthermore, an entity is permitted to early adopt any removed or modified disclosures upon issuance of the update and delay adoption of the additional disclosures until their effective date. We do not expect this amendment to have a material impact on our consolidated financial statements.

Note 4 - Prepaid Expenses

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Prepaid Expenses [Text Block]

NOTE

PREPAID EXPENSES

Prepaid expenses consisted of the following:

	March 31,		December 31,
	2019		2018
Prepaid insurance	$	234,875	$	160,576
Prepaid research and development		392,894		218,090
Professional services		96,250		110,094
Financial exchange fees		58,685
Prepaid rent		17,100
Retainer and security deposits		14,218		16,718
Other		21,446		4,355
Total prepaid expenses	$	835,468	$	509,833

Note 5 - Research and Development Tax Rebate Receivable	3 Months Ended
Note 5 - Research and Development Tax Rebate Receivable	Mar. 31, 2019
Notes to Financial Statements
Research and Development Tax Rebate Receivable [Text Block]	NOTE 5: RESEARCH AND DEVELOPMENT TAX REBATE RECEIVABLE On May 23, 2017, Atossa formed a wholly-owned subsidiary in Australia called Atossa Genetics AUS Pty Ltd. The purpose of this subsidiary is to perform research and development activities (“R&D”) including our Phase 1 and Phase 2 Endoxifen clinical trials. Australia offers an R&D cash rebate of $0.435 per dollar spent on qualified R&D activities incurred in the country. For the three months ended March 31, 2019 and 2018, the Company incurred qualified R&D expenses of approximately $80,000 and $86,000, respectively. The Company recorded a rebate receivable of approximately $35,000 and $38,000 for the three months ended March 31, 2019 and 2018, respectively and a corresponding credit to R&D expenses. At March 31, 2019, we had a total R&D rebate receivable of approximately $238,000 that includes approximately $203,000 receivable remaining from the year ended December 31, 2018.

Note 6 - Payroll Liabilities

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

NOTE

PAYROLL LIABILITIES

Payroll liabilities consisted of the following:

	March 31, 2019		December 31, 2018
Accrued bonuses	$	646,433	$	697,995
Accrued vacation		162,619		160,740
Accrued payroll		82,706		76,335
Total payroll liabilities	$	891,758	$	935,070

Note 7 - Stockholders' Equity	3 Months Ended
Note 7 - Stockholders' Equity	Mar. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 7: STOCKHOLDERS’ EQUITY The Company is authorized to issue a total of 185,000,000 shares of stock consisting of 175,000,000 shares of common stock, par value $0.18 per share, and 10,000,000 shares of preferred stock, par value $0.001 per share. The Company has designated 750,000 shares of Series A junior participating preferred stock, par value $0.001 per share, 4,000 shares of Series A convertible preferred stock, par value $0.001 per share, and 25,000 shares of Series B convertible preferred stock, par value $0.001 per share, through the filings of certificates of designation with the Delaware Secretary of State. No shares of Series A junior participating preferred stock and no shares of Series A convertible preferred stock are issued and outstanding as of March 31, 2019. 2018 Subscription Rights Offering of Units Consisting of Series B Convertible Preferred Stock and Warrants On May 30, 2018, the Company completed a rights offering pursuant to which the Company sold an aggregate of 13,624 units consisting of an aggregate of 13,624 shares of Series B convertible preferred stock and 3,869,216 warrants, with each warrant exercisable for one share of common stock at an exercise price of $4.05 per share (the “2018 Warrants”), resulting in net proceeds to the Company of approximately $12.3 million, after deducting expenses relating to the rights offering, including dealer-manager fees and expenses, and excluding any proceeds received upon exercise of any warrants. Warrants As of March 31, 2019, 1,070,028 warrants to purchase shares of common stock were outstanding. The warrants have an exercise price of $4.05 and expire on May 30, 2022. For the three months ended March 31, 2019, the Company received approximately $11.3 million from exercises of the 2018 Warrants. As a result of the warrant exercises, the Company issued approximately 2.8 million warrants and issued approximately 2.8 million shares of common stock. Conversion of Series B Convertible Preferred Stock During the three months ended March 31, 2019, certain holders of the Series B convertible preferred stock exercised their conversion option and converted an aggregate of 1,677 shares into 476,431 shares of the Company's common stock based on the conversion ratio of approximately 284 shares of common stock for each share of Series B convertible preferred stock.

Note 8 - Net Loss Per Share

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

NET LOSS PER SHARE

The Company accounts for and discloses net loss per common share in accordance with ASC Topic

260,

Earnings Per Share

. Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding. In addition, in computing the dilutive effect of convertible securities, the numerator is adjusted to add back any convertible preferred dividends. Diluted net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares that would have been outstanding during the period assuming the issuance of common shares for all potential dilutive common shares outstanding. Potential common shares consist of potential future exercises of outstanding stock options and common stock warrants. Because the inclusion of potential common shares would be anti-dilutive for all periods presented they have been excluded from the calculation.

The following table summarizes the Company’s calculation of net loss per common share:

	Three Months Ended March 31,
	2019			2018
Numerator
Net loss attributable to common shareholders	$	(4,073,307	)	$	(1,874,382	)
Denominator
Weighted average common shares outstanding used to compute net loss per share, basic and diluted		6,565,514			220,996
Net loss per share of common stock, basic and diluted:	$	(0.62	)	$	(8.48	)

The following table sets forth the number of potential common shares excluded from the calculation of net loss per diluted share for the

three

months ended

March 31, 2019

and

2018

because including them would be anti-dilutive:

	Three Months Ended March 31,
	2019		2018
Options to purchase common stock		783,383		14,473
Series B convertible preferred stock		458,994
Warrants to purchase common stock		3,369,468		76,235
		4,611,845		90,708

Note 9 - Income Taxes	3 Months Ended
Note 9 - Income Taxes	Mar. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 9: INCOME TAXES Deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. As a result of the Company’s cumulative losses, management has concluded that a full valuation allowance against the Company’s net deferred tax assets is appropriate. No income tax liabilities existed as of March 31, 2019 and December 31, 2018, due to the Company’s continuing operating losses.

Note 10 - Concentration of Credit Risk	3 Months Ended
Note 10 - Concentration of Credit Risk	Mar. 31, 2019
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 10: CONCENTRATION OF CREDIT RISK Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At March 31, 2019 and December 31, 2018, the Company had $18,925,000 and $10,052,000 in excess of the FDIC insured limit, respectively.

Note 11 - Commitments and Contingencies	3 Months Ended
Note 11 - Commitments and Contingencies	Mar. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 11: COMMITMENTS AND CONTINGENCIES Lease Commitments As discussed in Note 3, we adopted the requirements of ASU No. 2016 - 02, Lease Accounting: Topic 842 , and all related amendments on January 1, 2019. Prior to January 1, 2019, we accounted for leases in accordance with ASC Topic 840, Leases . In accordance with Topic 842, we evaluate all contractual agreements at inception to determine if they contain a lease. We measure lease liabilities at present value of lease payments not yet paid, using a discounted cash flow model that requires the use of a discount rate, or incremental borrowing rate. Our operating lease assets consist of an office lease and a copier system lease. Our office lease expires in August of 2020 and our copier system lease expires in October of 2021. None of our leases contain options to extend. Total operating lease expense for the three months ended March 31, 2019, was approximately $12,900 and variable lease payments of taxes and insurance were immaterial. As of March 31, 2019, the weighted average remaining lease term was approximately 1.7 years and the weighted average discount rate of our operating leases was 12%. As of March 31, 2019, the future minimum lease payments are approximately $44,000, $44,000 and $12,000 for 2019, 2020 and 2021, respectively. These amounts are net of approximately $12,000 of imputed interest. The cash paid for amounts included in the measurement of operating lease liabilities for the three months ended March 31, 2019 was approximately $14,600. Litigation and Contingencies We are subject to legal proceedings and claims that arise in the normal course of business. We believe these matters are either without merit or of a kind that should not have a material effect, individually or in the aggregate, on our financial position, results of operations or cash flows.

Note 12 - Stock Based Compensation

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

NOTE

12:

STOCK BASED COMPENSATION

Stock Option and Incentive Plan

September 28, 2010,

the Board of Directors approved the adoption of the

2010

Stock Option and Incentive Plan the (

“2010

Plan”) to provide for the grant of equity-based awards to employees, officers, non-employee directors and other key persons providing services to the Company. Awards of incentive options

may

be granted under the

2010

Plan until

September 2020.

other awards

may

be granted under the

2010

Plan after the date that is

years from the date of stockholder approval. An aggregate of

5,556

shares were initially reserved for issuance in connection with awards granted under the

2010

Plan and on

May 18, 2016,

an additional

11,111

shares were reserved for issuance under the

2010

Plan. On

May 9, 2018,

the stockholders approved an additional

125,000

shares for issuance under the

2010

Plan. On

April 12, 2018,

the stockholders approved an additional

500,000

shares for issuance under the

2010

Plan.

The following table presents the automatic additions to the

2010

Plan since inception pursuant to the “evergreen” terms of the

2010

Plan:

January 1,	Number of shares
2012		2,502
2013		2,871
2014		4,128
2015		5,463
2016		7,257
2017		12,623
2018		106,076
2019		233,862
Total additional shares		374,782

The Company did

not

grant options to purchase shares of common stock during the

three

months ended

March 31, 2019

2018.

options were exercised during the

three

months ended

March 31, 2019

2018.

There are

236,430

shares available for grant under the

2010

Plan as of

March 31, 2019.

Compensation costs associated with the Company’s stock options are recognized, based on the grant-date fair values of these options, over the requisite service period, or vesting period. Accordingly, the Company recognized stock-based compensation expense of

$275,833

and

$215,139

for the

three

months ended

March 31, 2019

and

2018,

respectively (excluding the liability options discussed below).

	Three Months Ended March 31,
	2019		2018
General and administrative	$	224,676	$	166,701
Research and development		51,157		48,438
Total stock compensation Expense	$	275,833	$	215,139

Options issued and outstanding as of

March 31, 2019,

under the

2010

Plan and their activities during the

three

months then ended are as follows:

	Number of Underlying Shares		Weighted- Average Exercise Price Per Share		Weighted- Average Contractual Life Remaining in Years		Aggregate Intrinsic Value
Outstanding as of January 1, 2019		783,383	$	12.14
Granted
Forfeited
Expired
Outstanding as of March 31, 2019		783,383		12.14		8.92	$	695,400
Exercisable as of March 31, 2019		434,515		19.38		8.84	$	374,063
Vested and expected to vest		783,383	$	12.14		8.92	$	695,400

March 31, 2019,

there were

348,868

unvested options outstanding and the related unrecognized total compensation cost associated with these options was approximately

$876,533.

This expense is expected to be recognized over a weighted-average period of

1.40

years.

2018

Liability Options

June 27, 2018,

the Company granted

2,300,000

options to the Chief Executive Officer (CEO) and

700,000

to the Chief Financial Officer (CFO) (the "Liability Options"). Each option was exercisable for an equivalent number of shares of Company's common stock. The Liability Options were granted pursuant to an option award agreement and were granted outside the Company’s

2010

Plan; however, they were subject to the terms and conditions of the

2010

Plan. On

January 13, 2019,

the Liability Options were canceled.

The Liability Options were exercisable for shares of common stock at an exercise price of

$2.38

per share, which was the fair value on the date of grant. The options had an exercise period of

ten

years from their date of issuance. If at the time the options were exercised the Company could

not

deliver shares of common stock to the optionee including, for example, if there were insufficient shares available under the Plan at the time of exercise, then in lieu of the optionee paying the exercise price and the Company issuing shares of stock, the option only would be exercised on a cash “net basis” so that the Company would pay cash in an amount equal to the excess of the fair value of the common stock over the option exercise price. If there were

not

sufficient shares available under the Plan, the Company would have been obligated to settle these options in cash if they were exercised. Because these options contained provisions that would require the Company to settle the options in cash in an event outside the Company’s control, they were accounted for as liabilities.

The Liability Options were subject to vesting requirements. Twenty-

five

percent of the options were vested as of the grant date,

50%

of the options would have vested quarterly over

two

years, and the remaining

25%

would have vested upon achievement of certain milestones related to clinical trial progress. As of

January 13, 2019,

all of the Liability Options that vested upon achievement of clinical trial milestones were vested. On

January 13, 2019,

the Liability Options were cancelled and at the time of cancellation, there were

1,125,000

unvested Liability Options outstanding.

Compensation costs associated with the Liability Options were initially recognized, based on the grant-date fair values of these options, over the requisite or vesting period for time-based options or when it is probable the performance criteria were achieved for options that vest based on performance. Compensation cost was remeasured each period based on the market value of our underlying stock until award vesting or settlement.

At the time of cancellation, the fair value of Liability Options at

January 13, 2019,

was calculated using the Black-Scholes option-pricing model applying the following assumptions:

	January 13,
	2019

Risk free interest rate		2.53	%
Expected term (in years)		4.50-5.00
Stock price	$	1.36
Dividend yield			%
Expected volatility		121.0-123.0	%

As a result of the cancellation, the Company recognized all remaining unrecognized compensation expense related to these options of

$1,741,919,

which was included in the following captions in the condensed consolidated statements of operations:

	Period Ended March 31, 2019

General and administrative	$	1,074,183
Research and development		667,736
Total stock compensation expense	$	1,741,919

Also on

January 13, 2019,

at the same time the Liability Options were cancelled, the Company awarded a new option to the CEO to purchase

2,300,000

shares of Common Stock and a new option to the CFO to purchase

800,000

shares of common stock (the

“2019

Options”). The

2019

Options: (i) have an exercise price equal to the fair market value of Common Stock on the date of board of director approval which was

$1.36

per share, (ii) do

not

contain a net cash exercise provision, (iii) are awarded pursuant to the terms and conditions of the

2010

Plan as amended by the Board of Directors on

January 13, 2019,

to include shares issuable upon exercise of the

2019

Options and other changes to the

2010

Plan so that the

2019

Options do

not

conflict with the

2010

Plan (the “Amended Plan”), (iv) vest and are exercisable in accordance with the vesting schedule related to the

2018

Liability Options; provided, however, that the

2019

Options are

not

exercisable unless and until the Company’s stockholders approve the Amended Plan to increase the authorized number of shares available for grant under the Plan and (vi) are subject to and conditioned upon the

2019

Option Agreements with the optionees and the employment agreements with the optionees.

The above actions were unanimously approved by the disinterested members of the Board of Directors. The above actions are intended to eliminate the Company’s potential liability associated with the net cash exercise provision of the liability options, and to allow the stockholders of the Company the opportunity to vote on the Amended Plan, which includes shares issuable upon exercise of the

2019

Options.

Accounting treatment

Awards offered under a plan that are subject to shareholder approval are

not

considered granted under GAAP until the approval is obtained, unless such approval is essentially a formality (or perfunctory). For example, if management and board members control sufficient votes to approve the plan, the vote

may

be considered perfunctory. As management and the Company’s Board of Directors do

not

control enough votes to approve the

2019

Options, the

2019

Options are

not

deemed granted under ASC

718.

Cancellation of an award that is

not

accompanied by the concurrent grant are accounted for as a repurchase for

consideration. Accordingly, any previously unrecognized compensation cost is recognized at the cancellation date. On

January 13, 2019,

as noted above, the Company recognized

$1,741,919

of unrecognized compensation cost related to the

2018

Liability Options. Additionally, the fair value of the stock-based compensation liability of

$3,151,944

was reclassified to additional-paid in capital on the cancellation date. If shareholder approval is obtained and a grant date is established for the

2019

Options, the Company will measure and record them as a new grant under ASC

718.

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation: The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10 -Q and Rule 10 - 01 of Regulation S- X. They do not include all information and notes required by GAAP for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the Notes to Consolidated Financial Statements included in the Annual Report on Form 10 -K of the Company for the year ended December 31, 2018. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2019, are not necessarily indicative of the results that may be expected for the year ending December 31, 2019.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates: The preparation of 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 contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements: In the first quarter of 2019, we adopted Accounting Standards Update (“ASU”) No. 2016 - 02, Lease Accounting Topic 842 : (" Topic 842 ") and recognized on our Condensed Consolidated Balance Sheet $101,000 of lease liabilities with corresponding right-of-use assets for operating leases. The new lease standard requires a lessee to measure its operating lease liabilities at the present value of the remaining minimum lease payments with a discounted cash flow model using the interest rate implicit in the lease. If the implicit interest rate cannot be readily determined, the lessee must use its incremental borrowing rate (“IBR”). If the lessee does not have an IBR, the lessee must use a rate that approximates the rate of interest that the lessee would have to pay to borrow on a collateralized basis over a similar term in an amount equal to the lease payments in a similar economic environment. The implicit interest rate was readily determinable for our copier lease; however, we used an IBR to measure our adoption date operating lease liability related to our office space which rate represents our estimated borrowing rate on a secured loan collateralized by similar assets for a similar term. The adoption did not have an impact on the Condensed Consolidated Statements of Cash Flows. As permitted under the standard, we elected prospective application of the new guidance and prior periods continue to be presented in accordance with Accounting Standards Codification ("ASC") Topic 840. Refer to our 2018 Annual Report on Form 10 -K for disclosures required by Topic 840. The new standard provides a number of optional practical expedients in transition. We elected the practical expedients to not reassess its prior conclusions about lease identification under the new standard, to not reassess lease classification, and to not reassess initial direct costs. We did not elect the practical expedient allowing the use-of-hindsight which would require us to reassess the lease term of its leases based on all facts and circumstances through the effective date and did not elect the practical expedient pertaining to land easements as this is not applicable to our current contract portfolio. See Note 11, Commitments and Contingencies, of the notes to our unaudited condensed consolidated financial statements for additional discussion of our leases and the amounts recognized in these unaudited condensed consolidated financial statements. On January 1, 2019, we adopted ASU 2018 - 08, Not -for-Profit Entities (Topic 958 ): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. This ASU affects not -for-profit entities and business entities that receive or make contributions of cash. The ASU clarifies and improves the scope and accounting guidance to assist entities in evaluating if those transactions should be accounted for as contributions under the scope of Topic 958 or as an exchange transaction subject to other guidance. The adoption did not have any impact on the financial statements. Recent Accounting Pronouncements: In August 2018, the FASB issued ASU No. 2018 - 13, Fair Value Measurement (Topic 820 ): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement , to improve the effectiveness of disclosures. The amendments remove, modify, and add certain disclosure requirements in Topic 820, “Fair Value Measurement.” The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments are effective for fiscal years beginning after December 15, 2019. Early adoption is permitted, including adoption in an interim period. Furthermore, an entity is permitted to early adopt any removed or modified disclosures upon issuance of the update and delay adoption of the additional disclosures until their effective date. We do not expect this amendment to have a material impact on our consolidated financial statements.

Note 4 - Prepaid Expenses (Tables)

3 Months Ended

Mar. 31, 2019

Notes Tables

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]

	March 31,		December 31,
	2019		2018
Prepaid insurance	$	234,875	$	160,576
Prepaid research and development		392,894		218,090
Professional services		96,250		110,094
Financial exchange fees		58,685
Prepaid rent		17,100
Retainer and security deposits		14,218		16,718
Other		21,446		4,355
Total prepaid expenses	$	835,468	$	509,833

Note 6 - Payroll Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

Notes Tables

Schedule of Accrued Liabilities [Table Text Block]

	March 31, 2019		December 31, 2018
Accrued bonuses	$	646,433	$	697,995
Accrued vacation		162,619		160,740
Accrued payroll		82,706		76,335
Total payroll liabilities	$	891,758	$	935,070

Note 8 - Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2019

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended March 31,
	2019			2018
Numerator
Net loss attributable to common shareholders	$	(4,073,307	)	$	(1,874,382	)
Denominator
Weighted average common shares outstanding used to compute net loss per share, basic and diluted		6,565,514			220,996
Net loss per share of common stock, basic and diluted:	$	(0.62	)	$	(8.48	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	Three Months Ended March 31,
	2019		2018
Options to purchase common stock		783,383		14,473
Series B convertible preferred stock		458,994
Warrants to purchase common stock		3,369,468		76,235
		4,611,845		90,708

Note 12 - Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Notes Tables

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

January 1,	Number of shares
2012		2,502
2013		2,871
2014		4,128
2015		5,463
2016		7,257
2017		12,623
2018		106,076
2019		233,862
Total additional shares		374,782

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	Three Months Ended March 31,
	2019		2018
General and administrative	$	224,676	$	166,701
Research and development		51,157		48,438
Total stock compensation Expense	$	275,833	$	215,139

	Period Ended March 31, 2019

General and administrative	$	1,074,183
Research and development		667,736
Total stock compensation expense	$	1,741,919

Share-based Payment Arrangement, Option, Activity [Table Text Block]

	Number of Underlying Shares		Weighted- Average Exercise Price Per Share		Weighted- Average Contractual Life Remaining in Years		Aggregate Intrinsic Value
Outstanding as of January 1, 2019		783,383	$	12.14
Granted
Forfeited
Expired
Outstanding as of March 31, 2019		783,383		12.14		8.92	$	695,400
Exercisable as of March 31, 2019		434,515		19.38		8.84	$	374,063
Vested and expected to vest		783,383	$	12.14		8.92	$	695,400

Liability Options [Member]

Notes Tables

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	January 13,
	2019

Risk free interest rate		2.53	%
Expected term (in years)		4.50-5.00
Stock price	$	1.36
Dividend yield			%
Expected volatility		121.0-123.0	%

Note 2 - Liquidity and Capital Resources (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Net Income (Loss) Attributable to Parent, Total	$ (4,073,307)	$ (1,874,382)
Net Cash Provided by (Used in) Operating Activities, Total	(2,148,956)	(2,386,882)
Cash and Cash Equivalents, at Carrying Value, Ending Balance	19,568,247	$ 4,779,519	$ 10,380,493
Working Capital	$ 19,300,000

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Note 3 - Summary of Accounting Policies (Details Textual) - USD ($)	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating Lease, Liability, Total		$ 101,000
Operating Lease, Right-of-Use Asset	$ 88,103	$ 101,000

Note 4 - Prepaid Expenses - Schedule of Prepaid Expenses (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Prepaid insurance	$ 234,875	$ 160,576
Prepaid research and development	392,894	218,090
Professional services	96,250	110,094
Financial exchange fees	58,685
Prepaid rent	17,100
Retainer and security deposits	14,218	16,718
Other	21,446	4,355
Total prepaid expenses	$ 835,468	$ 509,833

Note 5 - Research and Development Tax Rebate Receivable (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	May 23, 2017
Research and Development Expense, Total	$ 1,451,236	$ 470,976
Increase (Decrease) in Research and Development Tax Rebate Receivable	(280,242)	37,595
Research and Development Tax Rebate Receivable	237,856		$ 518,098
Atossa Genetics AUS Pty Ltd [Member]
Research and Development Cash Rebate per Dollar				$ 0.435
Research and Development Expense, Total	80,000	86,000
Increase (Decrease) in Research and Development Tax Rebate Receivable	35,000	$ 38,000
Research and Development Tax Rebate Receivable	$ 238,000		$ 203,000

Note 6 - Payroll Liabilities - Schedule of Payroll Liabilities (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Accrued bonuses	$ 646,433	$ 697,995
Accrued vacation	162,619	160,740
Accrued payroll	82,706	76,335
Total payroll liabilities	$ 891,758	$ 935,070

Note 7 - Stockholders' Equity (Details Textual) - USD ($)		3 Months Ended
	May 30, 2018	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Number of Shares Authorized to Issue		185,000,000
Common Stock, Shares Authorized		175,000,000		175,000,000
Common Stock, Par or Stated Value Per Share		$ 0.18		$ 0.18
Preferred Stock, Shares Authorized		10,000,000		10,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001		$ 0.001
Preferred Stock, Shares Issued, Total		702		2,379
Class of Warrant or Right, Outstanding		1,070,028
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 4.05
Proceeds from Warrant Exercises		$ 11,336,710
Class of Warrant or Right, Exercised During Period		2,800,000
Stock Issued During Period, Shares, Warrant Exercised		2,800,000
Preferred Stock, Shares Outstanding, Ending Balance		702		2,379
Conversion of Series B Convertible Preferred Stock into Common Stock [Member]
Conversion of Stock, Shares Converted		1,677
Conversion of Stock, Shares Issued		476,431
Convertible Preferred Stock, Shares Issued upon Conversion		284
The 2018 Subscription Rights Offering [Member]
Number of Units Sold	13,624
Proceeds from Issuance of Stock units	$ 12,300,000
The 2018 Subscription Rights Offering [Member] \| The 2018 Warrants [Member]
Class of Warrant or Right, Outstanding	3,869,216
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	1
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 4.05
Series A Junior Participating Preferred Stock [Member]
Preferred Stock, Shares Authorized		750,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001
Preferred Stock, Shares Issued, Total		0
Series A Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized		4,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001
Preferred Stock, Shares Outstanding, Ending Balance		0
Series B Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized		25,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001
Series B Convertible Preferred Stock [Member] \| The 2018 Subscription Rights Offering [Member]
Stock Issued During Period, Shares, New Issues	13,624

Note 8 - Net Loss Per Share - Schedule of Earnings Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net loss attributable to common shareholders	$ (4,073,307)	$ (1,874,382)
Weighted average shares outstanding - basic and diluted (in shares)	6,565,514	220,996
Loss per common share - basic and diluted (in dollars per share)	$ (0.62)	$ (8.48)

Note 8 - Net Loss Per Share - Schedule of Antidilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Number of potential common shares excluded (in shares)	4,611,845	90,708
Share-based Payment Arrangement, Option [Member]
Number of potential common shares excluded (in shares)	783,383	14,473
Series B Convertible Preferred Stock [Member]
Number of potential common shares excluded (in shares)	458,994
Warrant [Member]
Number of potential common shares excluded (in shares)	3,369,468	76,235

Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Expense (Benefit), Total	$ 0	$ 0

Note 10 - Concentration of Credit Risk (Details Textual) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Cash, Uninsured Amount	$ 18,925,000	$ 10,052,000

Note 11 - Commitments and Contingencies (Details Textual)	3 Months Ended
	Mar. 31, 2019 USD ($)
Operating Lease, Expense	$ 12,900
Operating Lease, Weighted Average Remaining Lease Term	1 year 255 days
Operating Lease, Weighted Average Discount Rate, Percent	12.00%
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 44,000
Lessee, Operating Lease, Liability, Payments, Due Year Two	44,000
Lessee, Operating Lease, Liability, Payments, Due Year Three	12,000
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	12,000
Operating Lease, Payments	$ 14,600

Note 12 - Stock Based Compensation (Details Textual) - USD ($)							3 Months Ended
	Jan. 13, 2019	Jun. 27, 2018	May 09, 2018	Apr. 12, 2018	May 18, 2016	Sep. 28, 2010	Mar. 31, 2019	Mar. 31, 2018
Adjustments to Additional Paid in Capital, Transfer of Stock-based Compensation Liability Upon Option Cancellation	$ 3,151,944						$ 3,151,944
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Expense							$ 275,833	$ 215,139
Liability Options [Member]
Share-based Payment Arrangement, Expense	$ 1,741,919
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance	1,125,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 2.38
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
Liability Options [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Liability Options [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		2 years
Liability Options [Member] \| Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Liability Options [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		2,300,000
Liability Options [Member] \| Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		700,000
The 2019 Options [Member[
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 1.36
The 2019 Options [Member[ \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	2,300,000
The 2019 Options [Member[ \| Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	800,000
The 2010 Stock Option and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Period for Granting Shares						10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period								0
The 2010 Stock Option and Incentive Plan [Member] \| Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized						5,556
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized			125,000	500,000	11,111
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross							0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period							0
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant							236,430
Share-based Payment Arrangement, Expense							$ 275,833	$ 215,139
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance							348,868
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount							$ 876,533
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition							1 year 146 days

Note 12 - Stock Based Compensation - Additional Shares Authorized (Details) - shares	3 Months Ended	12 Months Ended							87 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2019
The 2010 Stock Option and Incentive Plan [Member]
Total additional shares (in shares)	233,862	106,076	12,623	7,257	5,463	4,128	2,871	2,502	374,782

Note 12 - Stock Based Compensation - Stock-based Compensation Expense (Details) - USD ($)		3 Months Ended
	Jan. 13, 2019	Mar. 31, 2019	Mar. 31, 2018
Liability Options [Member]
Total stock compensation expense	$ 1,741,919
Share-based Payment Arrangement, Option [Member]
Total stock compensation expense		$ 275,833	$ 215,139
General and Administrative Expense [Member] \| Liability Options [Member]
Total stock compensation expense	1,074,183
General and Administrative Expense [Member] \| Share-based Payment Arrangement, Option [Member]
Total stock compensation expense		224,676	166,701
Research and Development Expense [Member] \| Liability Options [Member]
Total stock compensation expense	$ 667,736
Research and Development Expense [Member] \| Share-based Payment Arrangement, Option [Member]
Total stock compensation expense		$ 51,157	$ 48,438

Note 12 - Stock Based Compensation - Stock Option Activity (Details) - The 2010 Stock Option and Incentive Plan [Member]	3 Months Ended
	Mar. 31, 2019 USD ($) $ / shares shares
Outstanding, shares (in shares) \| shares	783,383
Outstanding, Weighted average exercise price per share (in dollars per share) \| $ / shares	$ 12.14
Outstanding, shares (in shares) \| shares	783,383
Outstanding, Weighted average exercise price per share (in dollars per share) \| $ / shares	$ 12.14
Outstanding, weighted average contractual life remaining in years (Year)	8 years 335 days
Outstanding, aggreate instrinsic value \| $	$ 695,400
Exercisable, shares (in shares) \| shares	434,515
Exercisable, Weighted average exercise price per share (in dollars per share) \| $ / shares	$ 19.38
Exercisable, weighted average contractual life remaining in years (Year)	8 years 306 days
Exercisable, aggreate instrinsic value \| $	$ 374,063
Vested and expected to vest, shares (in shares) \| shares	783,383
Vested and expected to vest, Weighted average exercise price per share (in dollars per share) \| $ / shares	$ 12.14
Vested and expected to vest, weighted average contractual life remaining in years (Year)	8 years 335 days
Vested and expected to vest, aggreate instrinsic value \| $	$ 695,400

Note 12 - Stock Based Compensation - Valuation Assumptions for Liability Options (Details)	Jan. 13, 2019 $ / shares
Dividend yield
Liability Options [Member]
Risk free interest rate	2.53%
Stock price (in dollars per share)	$ 1.36