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Note 11 - Stockholders' Equity and Common Stock Warrants | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Equity [Text Block] | 11. Stockholders’ Equity (Deficit) and Common Stock Warrants On August 16, 2023 in connection with the closing of the Merger, the following is reflected on the condensed consolidated interim financial statements of convertible preferred stock and stockholders’ equity (deficit) for the three and nine months ended September 30, 2023: (i) the issuance of 795,905 shares of common stock and 101,367 pre-funded warrants upon the settlement of the Convertible Notes, (ii) the conversion of 3,331,201 shares of convertible preferred stock into 2,936,566 shares of common stock and 394,628 prefunded warrants, and (iii) the issuance of 1,360,244 shares of common stock to Diffusion stockholders as consideration for the Merger. In July 2023, EIP sold 63,422 shares of common stock at $12.78 per share (as adjusted for the Exchange Ratio) for net proceeds of approximately $0.8 million. Warrants As of September 30, 2023, the Company had the following warrants outstanding to acquire shares of its common stock:
|  | Warrants |  |  | Exercise |  |
|  | Outstanding |  |  | Price |  | Expiration Date
Historical Diffusion common stock warrants |  |  | 58,844 |  |  | $26.27-$459.06 |  | May 2024 through February 2026
Historical EIP common stock warrants |  |  | 43,618 |  |  | $ | 19.81 |  | April 2028
Pre-funded warrants issued related to closing of reverse recapitalization |  |  | 495,995 |  |  | $ | 0.001 |  | None
|  |  | 598,457 |  |  |  |  |  |
Upon completion of the Merger, the Convertible Notes and outstanding shares of EIP preferred stock converted into shares of EIP Common Stock which were subsequently converted into the right to exchange such shares for shares of the Company’s common stock or, in certain cases, pre-funded warrants to purchase the Company’s common stock.

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