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Note 6 - Long-term Prepaid Contracts
12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Other Assets Disclosure [Text Block]

6. Long-term prepaid contracts

 

We have contracted with partners relating to our clinical trial activities. Upon execution of the contracts, we made initial payments of $1.2 million as deposits recorded as long-term assets and will be applied against final invoices which are more than a year away. The deposits will be recorded as expense when the clinical trial is substantially completed. Costs for the clinical trial activities throughout our clinical trial under these contracts are recognized as expense and payable based on costs incurred. Our clinical trial partner applied $0.3 million of the $1.2 million deposits against outstanding invoices in July 2024 so $0.9 million is remaining as deposits at December 31, 2024.