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Note 11 - Shareholders' Equity (Deficit)
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Equity [Text Block]

Note 11—Shareholders’ Equity (Deficit)

 

Common Stock

 

As of December 31, 2023, we had reserved shares of common stock under our equity plans as follows:

 

Stock options outstanding

  15,255,154 

Awards available to issue under the 2017 Plan

  8,802,249 

Total shares reserved

  24,057,403 

 

At the Market Sales Agreement – We have a sales agreement to sell shares of our common stock having an aggregate offering price of up to $150.0 million, from time to time, through an “at the market” equity offering program.

 

Amendment of 2017 Omnibus Incentive Compensation Plan - At our June 23, 2023 annual meeting, our shareholders approved a 5,000,000 share increase in the number of shares of common stock available for grant under the 2017 Omnibus Incentive Compensation Plan, as amended and restated.

 

Share Repurchase Program - On November 9, 2023, the Board of Directors approved an indefinite-term share repurchase program under which we may repurchase from time to time up to $50.0 million of our common stock in the open market or through privately negotiated transactions.  For the year ended December 31, 2023, we repurchased and retired 1.8 million shares of common stock at an average share price of $2.54, for an aggregate repurchase price of $4.7 million.