Note 13 - Subsequent Events

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Subsequent Events [Text Block]

13. Subsequent Events

In January 2021, the Company licensed certain rights to Elpiscience Biopharmaceuticals Co., Limited (“Elpiscience”) to develop, manufacture, commercialize or otherwise exploit CTX-009 in mainland China, Hong Kong, Taiwan and Macau (the “Elpiscience Agreement”). In April 2024, Elpiscience notified the Company that it achieved a milestone pursuant to the Elpiscience Agreement for completion of its phase 1 clinical trial with CTX-009, which triggered a $1.0 million milestone payment due to the Company. This milestone payment is subject to a sublicensing revenue payment of 15%, or $150 thousand, due to ABL Bio.