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Note 7 - Stockholders' Equity
 3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Equity [Text Block]

(7)

Stockholders’ Equity

 

Warrants - Set forth below is a table of activity of warrants for common stock and the related weighted average exercise price per warrant. As of March 31, 2026 outstanding warrants had a maximum weighted average term to expiration of 2.3 years.

 

   

Number of

   

Weighted

 
   

Common Stock

    

Average

  
   

Equivalents

    

Exercise Price

  

Outstanding and exercisable as of December 31, 2025

     7,944,618     $ 1.88  

Warrants expired

     (67,104 )     6.63  

Outstanding and exercisable as of March 31, 2026

     7,877,514     $ 1.84  

 

At-the-Market (ATM) Offerings – On December 6, 2023, we entered into an “At The Market” offering agreement (the Sales Agreement) with H.C. Wainwright & Co., LLC (HCW). Under the Sales Agreement, we may offer and sell our common stock, from time to time during the term of the Sales Agreement through or to HCW as sales agent or principal. We have filed a prospectus supplement, the ATM Prospectus Supplement, relating to the offer and sale of the shares pursuant to the Sales Agreement. The offering and sale of the shares will be made pursuant to the Company’s previously filed and effective Registration Statement on Form S-3 (File No. 333-275099), which was initially filed with the Securities and Exchange Commission (the “SEC”) on October 19, 2023 and declared effective on December 5, 2023. We have agreed to pay HCW a commission equal to 3% of the gross proceeds from the sales of shares and have agreed to provide HCW with customary indemnification and contribution rights. As of March 31, 2026, approximately $5.1 million of common stock may still be sold pursuant to the Sales Agreement.

 

 

Activity under the Sales Agreement was as follows (in thousands except share amounts):

 

   

Three months ended

  
   

March 31,

  
   

2026

    

2025

  

Common shares sold

     184,725       81,274  

Gross proceeds

   $ 225     $ 212  

Associated issuance costs

   $ 40     $ 27