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Note 7 - Research Grants and Agreements
3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Research, Development, and Computer Software Disclosure [Text Block]

7. Research Grants and Agreements

 

Sponsored Research Agreement

 

The Company may sponsor research activities (“SRAs”) performed by ODURF. ODURF is compensated by the Company for its conduct of each study in accordance with the budget and payment terms set forth in the applicable task order. In March 2021, the Company agreed to sponsor a task order in the amount of $0.3 million for research performed during the subsequent 12-month period to be funded through monthly payments to ODURF. In May 2021, the Company agreed to sponsor an additional task order in the amount of $0.3 million for research performed during the subsequent 12-month period. These SRAs are funded through monthly payments to ODURF. Payments will be made upon ODURF certifying, to the Company’s reasonable satisfaction, that ODURF has met its obligations pursuant to the specified task order and statement of work. The principal investigator may transfer funds with the budget as needed without the Company’s approval so long as the obligations of ODURF under the task order and statement of work remain unchanged and unimpaired. During the three-month periods ended March 31, 2023 and 2022, the Company incurred costs relating to the SRAs equal to zero and $0.1 million, respectively. As of March 31, 2023, the Company does not have any active SRAs with ODURF.