Note 8 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred tax assets	December 31, 2021			December 31, 2020
Net operating loss carryforwards	$	6,033,726		$	3,864,189
Stock option compensation		1,641,354			1,571,227
Orphan Drug credits		647,937			541,384
Lease liability		—			38,394
Capitalized start-up costs and other		12,403,925			10,709,631
Valuation allowance		(20,726,942	)		(14,906,646	)
Deferred tax assets		—			1,818,179
Deferred tax liabilities
Intangible assets		—			(2,223,678	)
Right of use asset		—			(38,394	)
Deferred tax liabilities		—			(2,262,072	)
Net deferred tax liability	$	—		$	(443,893	)

Summary of Operating Loss Carryforwards [Table Text Block]

Combined NOL Carryforwards:	December 31, 2021		December 31, 2020
Federal	$	23,442,045	$	15,013,388
State		23,436,624		15,007,966

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Rate reconciliation:	December 31, 2021			December 31, 2020
Federal tax benefit at statutory rate		(21.0	)%		(21.0	)%
State tax, net of Federal benefit		(4.7	)%		(4.7	)%
Orphan drug credit		(0.4	)%		(2.9	)%
Change in valuation allowance		24.3	%		18.1	%
Total provision		(1.8	)%		(10.5	)%