Note 3 - Balance Sheet Components

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Supplemental Balance Sheet Disclosures [Text Block]

3. Balance Sheet Components

Prepaid Expenses – Prepaid expenses consist of the following as of December 31, 2024 and 2023:

	2024		2023
Prepaid clinical trial costs (current portion)	$	1,524,813	$	1,282,746
Prepaid insurance premiums		220,675		110,695
Prepaid rent		13,045		13,045
Other prepaid expenses		10,000		26,667
Total prepaid expenses	$	1,768,533	$	1,433,153

Property and Equipment – Property and equipment consist of the following as of December 31, 2024 and 2023:

	2024			2023
Equipment and furnishings	$	795,411		$	774,758
Leasehold improvements		115,605			115,605
Total property and equipment		911,016			890,363
Accumulated depreciation and amortization		(761,042	)		(680,674	)
Total property and equipment, net	$	149,974		$	209,689

Depreciation expense was $80,368 and $74,169 during the years ended December 31, 2024 and 2023, respectively.

Other Assets – Other assets consist of the following as of December 31, 2024 and 2023:

	2024		2023
Prepaid clinical trial costs (noncurrent portion)	$	-	$	1,106,778
Prepaid technology license fees		60,000		70,000
Deposits		11,010		11,010
Total other assets	$	71,010	$	1,187,788

Accrued Expenses – Accrued expenses consist of the following as of December 31, 2024 and 2023:

	2024		2023
Payroll-related liabilities	$	986,691	$	114,337
Other accrued expenses		270,881		602,594
Total accrued expenses	$	1,257,572	$	716,931