Note 12 - Subsequent Events

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Subsequent Events [Text Block]

12.

         

Subsequent Events

SBIR Grant

– In

January 2021,

NIAID awarded us a Small Business Innovative Research (SBIR) grant in support of our development of a vaccine against SARS-CoV-

2,

the virus that causes COVID-

19.

The

$299,927

Phase

1

grant, titled, “

Preclinical Development of GV-MVA-VLP Vaccines Against COVID-

19,

” will support the ongoing design, construction and preclinical testing of our vaccine candidates in preparation for human clinical trials.

Warrant Exercises

– During

January

and

February 2021,

holders of our warrants exercised

62,626

Series I Warrants,

126,042

Pre-Funded Warrants and

690,034

Unit Warrants, resulting in the issuance of

835,900

shares of our common stock for aggregate net proceeds to us of

$3,174,156.

Bought Deal Public Offering --

On

February 11, 2021,

we closed an underwritten bought deal public offering of

1,644,000

shares of our common stock, including

204,000

shares sold pursuant to the full exercise of the underwriter's option to purchase additional shares, at a price to the public of

$6.25

per share. Net proceeds after deducting underwriting discounts and commissions and other offering expenses were approximately

$9.4

million.