Note 7 - Accrued Expenses and Other Current Liabilities

6 Months Ended

Jun. 30, 2025

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

7. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:

	June 30, 2025		December 31, 2024
Employee compensation costs (a)	$	1,301,907	$	803,193
Clinical development costs		1,055,360		1,158,783
Professional fees		334,604		249,527
State franchise and excise tax		20,456		40,456
Other		83,684		115,883
Total	$	2,796,011	$	2,367,842

(a) On April 14, 2025, the Board approved the terms of the Separation Agreement with the Company’s Former COO, pursuant to which the Former COO's employment with the Company concluded effective July 1, 2025. Pursuant to the Separation Agreement, the former COO received (in each case, subject to lawful deductions): (i) a lump-sum payment equal to twelve months gross base salary, (ii) a lump-sum payment equal to his pro-rated target annual bonus for the year ending December 31, 2025, and (iii) a lump-sum payment equal to the aggregate premium for 12 months of COBRA continuation coverage for the Former COO and his eligible dependents. Additionally, all Company stock options previously granted to the Former COO will remain exercisable and continue to vest in accordance with their respective vesting schedules through September 30, 2026. In connection with the departure of the Former COO, during the three and six months ended June 30, 2025, the Company recognized $0.6 million in severance related charges. For more information on the stock-based compensation expense associated with the modification of the Former COO's stock options, see Note 10 — Stock-Based Compensation Expense.