Note 15 - Subsequent Events	3 Months Ended
Mar. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	Note 15. Subsequent Events The Company has determined that there are no material subsequent events exist other than the following: On April 6, 2020 and April 27, 2020, in response to the COVID- 2019 outbreak, the Company announced reductions-in-force that have affected approximately 42% of the Company’s workforce, and instituted salary reductions for the remainder of its employees and furloughs. The Company’s Chief Executive Officer, President and Chief Operating Officer, and other members of management agreed to a reduction in their salaries until such time as the Company’s business operations and economic conditions improve. The Company’s board of directors also agreed to a reduction in their fees. In addition, in order to further conserve cash, settlement terms of the 2019 cash bonuses owed to management and other employees were amended such that 10% of the amount owed was settled in cash, with a further 100% of the amount owed settled in RSUs. 141,610 RSUs were issued in April 2020, and all vested immediately. On April 21, 2020, the Company issued and sold an aggregate of 2,742,750 shares of the Company’s common stock, par value $0.001 per share at a price to the public of $10.50 per share, in an underwritten public offering pursuant to a purchase agreement dated April 16, 2020 ( the “Underwriting Agreement”) by and between the Company and Piper Sandler & Co. (the “Underwriter”). The shares include the full exercise of the underwriter’s option to purchase an additional 357,750 shares of common stock pursuant to the Underwriting Agreement. Piper Sandler & Co. acted as the sole book-running manager in the offering. The shares were sold pursuant to an effective registration statement on Form S- 3 (File No. 333 - 237552 ) (the “Registration Statement”), which the SEC declared effective on April 14, 2020, and a prospectus dated April 14, 2020 included in the registration statement and a preliminary prospectus supplement and final prospectus supplement, each dated April 16, 2020. The Company received net proceeds from the offering of approximately $26.7 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds of the offering to fund growth initiatives, market development activities related thereto and to provide for general corporate purposes, which may include working capital, capital expenditures, clinical trials, other corporate expenses and acquisitions of complementary products, technologies or businesses. However, the Company does not have any agreements or commitments for any specific acquisitions at this time. On April 22, 2020, the Company received loan proceeds of $7.1 million pursuant to the Paycheck Protection Program (the“PPP”) under the Coronavirus Aid, Relief, and Economic Security Act. The Company believes that the current economic uncertainty makes the loan necessary to support ongoing operations. The application for these funds required the Company to, in good faith, certify that the current economic uncertainty made the loan request necessary to support the ongoing operations of the Company. Subsequently released guidance instructs all applicants and recipients to take into account their current business activity and the Company's ability to access other sources of liquidity sufficient to support ongoing operations in a manner that is not significantly detrimental to their business. On April 28, 2020, in press conference remarks, the Secretary of the U.S. Department of the Treasury stated that the SBA intends to perform a review of PPP loans over $2.0 million. The required certification made by the Company is subject to interpretation. If, despite the good-faith belief that given the Company’s circumstances the Company satisfied all eligible requirements for the PPP Loan, it is later determined the Company was ineligible to apply for and receive the PPP Loan, the Company may be required to repay the PPP Loan in its entirety and the Company could be subject to additional penalties. The loan, which is in the form of a promissory note, dated April 21, 2020, between the Company and Silicon Valley Bank as the lender (the “Loan”), matures on April 21, 2022 and bears interest at a fixed rate of 1.00% per annum, payable monthly commencing in six months. There is no prepayment penalty. Under the terms of the PPP, all or a portion of the principal may be forgiven if the Loan proceeds are used for qualifying expenses as described in the CARES Act, such as payroll costs, benefits, rent, and utilities. No assurance is provided that the Company will obtain forgiveness of the Loan in whole or in part. With respect to any portion of the SBA Loan that is not forgiven, the SBA Loan will be subject to customary provisions for a loan of this type, including customary events of default relating to, among other things, payment defaults and breaches of the provisions of the Loan.

Note

15.

Subsequent Events

The Company has determined that there are

material subsequent events exist other than the following:

April 6, 2020

and

April 27, 2020,

in response to the COVID-

2019

outbreak, the Company announced reductions-in-force that have affected approximately

42%

of the Company’s workforce, and instituted salary reductions for the remainder of its employees and furloughs. The Company’s Chief Executive Officer, President and Chief Operating Officer, and other members of management agreed to a reduction in their salaries until such time as the Company’s business operations and economic conditions improve. The Company’s board of directors also agreed to a reduction in their fees.

In addition, in order to further conserve cash, settlement terms of the

2019

cash bonuses owed to management and other employees were amended such that

10%

of the amount owed was settled in cash, with a further

100%

of the amount owed settled in RSUs.

141,610

RSUs were issued in

April 2020,

and all vested immediately.

April 21, 2020,

the Company issued and sold an aggregate of

2,742,750

shares of the Company’s common stock, par value

$0.001

per share at a price to the public of

$10.50

per share, in an underwritten public offering pursuant to a purchase agreement dated

April 16, 2020 (

the “Underwriting Agreement”) by and between the Company and Piper Sandler & Co. (the “Underwriter”).

The shares include the full exercise of the underwriter’s option to purchase an additional

357,750

shares of common stock pursuant to the Underwriting Agreement. Piper Sandler & Co. acted as the sole book-running manager in the offering. The shares were sold pursuant to an effective registration statement on Form S-

(File

No.

333

237552

) (the “Registration Statement”), which the SEC declared effective on

April 14, 2020,

and a prospectus dated

April 14, 2020

included in the registration statement and a preliminary prospectus supplement and final prospectus supplement, each dated

April 16, 2020.

The Company received net proceeds from the offering of approximately

$26.7

million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds of the offering to fund growth initiatives, market development activities related thereto and to provide for general corporate purposes, which

may

include working capital, capital expenditures, clinical trials, other corporate expenses and acquisitions of complementary products, technologies or businesses. However, the Company does

not

have any agreements or commitments for any specific acquisitions at this time.

April 22, 2020,

the Company received loan proceeds of

$7.1

million pursuant to the Paycheck Protection Program (the“PPP”) under the Coronavirus Aid, Relief, and Economic Security Act. The Company believes that the current economic uncertainty makes the loan necessary to support ongoing operations.

The application for these funds required the Company to, in good faith, certify that the current economic uncertainty made the loan request necessary to support the ongoing operations of the Company. Subsequently released guidance instructs all applicants and recipients to take into account their current business activity and the Company's ability to access other sources of liquidity sufficient to support ongoing operations in a manner that is

not

significantly detrimental to their business. On

April 28, 2020,

in press conference remarks, the Secretary of the U.S. Department of the Treasury stated that the SBA intends to perform a review of PPP loans over

$2.0

million. The required certification made by the Company is subject to interpretation. If, despite the good-faith belief that given the Company’s circumstances the Company satisfied all eligible requirements for the PPP Loan, it is later determined the Company was ineligible to apply for and receive the PPP Loan, the Company

may

be required to repay the PPP Loan in its entirety and the Company could be subject to additional penalties.

The loan, which is in the form of a promissory note, dated

April 21, 2020,

between the Company and Silicon Valley Bank as the lender (the “Loan”), matures on

April 21, 2022

and bears interest at a fixed rate of

1.00%

per annum, payable monthly commencing in

six

months. There is

prepayment penalty. Under the terms of the PPP, all or a portion of the principal

may

be forgiven if the Loan proceeds are used for qualifying expenses as described in the CARES Act, such as payroll costs, benefits, rent, and utilities.

assurance is provided that the Company will obtain forgiveness of the Loan in whole or in part. With respect to any portion of the SBA Loan that is

not

forgiven, the SBA Loan will be subject to customary provisions for a loan of this type, including customary events of default relating to, among other things, payment defaults and breaches of the provisions of the Loan.