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7. GRANTS
6 Months Ended
Jun. 30, 2017
Research and Development [Abstract]  
GRANTS

In June 2016, the German State of Schleswig-Holstein granted PBAG approximately 874,000 Euro (the “Grant”) for further research and development of the Company's pharmaceutical product Elafin. The Grant covers 50% of eligible research and development costs incurred from December 1, 2015 through November 30, 2018. At June 30, 2017, 15,000 Euro ($17,000) of eligible expense from 2017 was submitted for reimbursement, but payment was not received at June 30, 2017, which resulted in a $17,000 grant fund receivable on the accompanying condensed consolidated balance sheet at Jun 30, 2017. Research and development expenses for the three-month and six-month periods ended June 30, 2017 and 2016, have been reduced by approximately $52,000 and $82,000, respectively, and $102,000 and $82,000, respectively.