Note 8 - Commitments

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Commitments Disclosure [Text Block]

(8) Commitments

In

November

2016,

the Company entered into an amendment to its lease with respect to its office and laboratory space. The extended term of this lease is

60

months and expected to commence on

January

1,

2017

and expire on

December

31,

2021.

Rent expense is recognized on a straight-line basis over the life of the lease. Rental expense was approximately

$321,000

and

$266,000

for the years ended

December

31,

2016

and

2015,

respectively. Future minimum lease payments under the lease as of

December

31,

2016

are as follows (in thousands):

Years ending December 31:
2017	$	576
2018		594
2019		612
2020		631
2021 and thereafter		649
Total	$	3,062