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Note 3 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

						Fair Value Measurements Using
						Quoted
						Prices in
						Active
						Markets				Significant
						for				Other				Significant
		Balance at				Identical				Observable				Unobservable
		March				Items				Inputs				Inputs
		31, 2024				(Level 1)				(Level 2)				(Level 3)
Assets
Restricted cash held as a certificate of deposit		$	476			$	476			$	—			$	—
Liabilities
Warrant liabilities		$	232			$	—			$	232			$	—
Embedded derivative liability			159				—				159				—
Total liabilities		$	391			$	—			$	391			$	—

						Fair Value Measurements Using
						Quoted
						Prices in
						Active
						Markets				Significant
						for				Other				Significant
		Balance at				Identical				Observable				Unobservable
		December				Items				Inputs				Inputs
		31, 2023				(Level 1)				(Level 2)				(Level 3)
Assets
Restricted cash held as a certificate of deposit		$	476			$	476			$	—			$	—
Liabilities
Warrant liabilities		$	334			$	—			$	334			$	—

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

			May 2023 Warrants						May 2023 Warrants						December 2023 Warrants						December 2023 Warrants
Measurement event			Issuance						Stockholder Approval						Issuance						Reporting Date
Date			May 1, 2023						June 9, 2023						December 21, 2023						December 21, 2023
Total Value			1.6 million						$1.4 million						$0.4 million						$0.3 million
Gain			not applicable						$0.2 million						not applicable						$56 thousand
Assumptions:
Exercise price				1.30					$			1.30			$			0.25			$			0.25
Market price			$	0.72			(a)		$			0.68			$			0.23			$			0.20
Volatility				80.1			%					77.6	%					79.3	%					79.3	%
Risk-free rate				3.60	-	4.04	%			3.92	-	4.59	%					3.88	%					3.85	%
Dividend yield				0.0			%					0	%					0	%					0	%
Term (years)				2.1	-	5.1	%			2.0	-	5.0						5.5						5.5

		December				March				March
		2023				2024				2024
		Warrants				Warrant				Warrant
Measurement event		Reporting Date				Issuance				Reporting Date
Date		March 31, 2024				March 25, 2024				March 31, 2024
Total Value		$0.2 million				$0.1 million				$0.1 million
Gain		$173 thousand				not applicable				$21 thousand
Assumptions:
Exercise price		$	0.25			$	0.14			$	0.14
Market price		$	0.10			$	0.13			$	0.10
Volatility			92.3	%			86.9	%			86.9	%
Risk-free rate			4.21	%			4.24	%			4.21	%
Dividend yield			0	%			0	%			0	%
Term (years)			5.2				5.5				5.5

		July 2020, November 2021, September 2022 & November 2022 Warrants
Measurement event		Prior to amendment						After amendment
Date		April 27, 2023						April 27, 2023
Total Value		$0.3 million						$0.5 million
Loss		not applicable						$0.2 million
Assumptions:
Exercise price		$	6.30					$	1.50
Market price		$	0.72			(a)		$	0.72			(a)
Volatility			80.1			%			80.1			%
Risk-free rate			3.59	-	4.73	%			3.59	-	4.73	%
Dividend yield			0.0			%			0.0			%
Term (years)			1.1	-	5.6				1.1	-	5.6

		May 2023 Warrants
Measurement event		Prior to amendment						After amendment
Date		December 21, 2023						December 21, 2023
Total Value		$56 thousand						$0.2 million
Loss		not applicable						$0.1 million
Assumptions:
Exercise price		$	1.30					$	0.25
Market price		$	0.23					$	0.23
Volatility			79.3			%			79.3			%
Risk-free rate			3.92	-	4.62	%			3.92	-	4.62	%
Dividend yield			0.0			%			0.0			%
Term (years)			1.5	-	4.5				1.5	-	4.5

		Series B & C Preferred Stock
Measurement event		Prior to Ratchet				After Ratchet
Date		April 27, 2023				April 27, 2023
Total value (b)		$9.6 million				$11.6 million
Deemed dividend		not applicable				$2.0 million
Assumptions:
Exercise price		$	6.30			$	1.30
Market price		$	0.72	(a)		$	0.72	(a)
Volatility			80.1	%			80.1	%
Risk-free rate			4.91	%			4.91	%
Dividend yield			0.0	%			0.0	%
Term (in years)			0.8				0.8

		Series B & C Preferred Stock
Measurement event		Prior to Ratchet				After Ratchet
Date		December 21, 2023				December 21, 2023
Total value (b)		$1.7 million				$6.8 million
Deemed dividend		not applicable				$5.1 million
Assumptions:
Exercise price		$	1.30			$	0.25
Market price		$	0.23			$	0.23
Volatility			79.3	%			79.3	%
Risk-free rate			5.43	%			5.43	%
Dividend yield			0.0	%			0.0	%
Term (years)			0.3				0.3

		Series C Preferred Stock
Measurement event		Prior to Ratchet				After Ratchet
Date		March 24, 2024				March 24, 2024
Total value (b)		$0.5 million				$0.9 million
Deemed dividend		not applicable				$0.4 million
Assumptions:
Exercise price		$	0.25			$	0.14
Market price		$	0.13			$	0.13
Volatility			79.9	%			79.9	%
Risk-free rate			5.51	%			5.51	%
Dividend yield			0.0	%			0.0	%
Term (in years)			0.1				0.1

		Unsecured Convertible Notes derivative				Unsecured Convertible Notes derivative
Measurement event		Issuance				Reporting Date
Date		March 25, 2024				March 31, 2024
Total value		$0.2 million				$0.2 million
Gain		not applicable				$65 thousand
Assumptions:
Exercise price		$	0.14			$	0.14
Market price		$	0.13			$	0.10
Volatility			86.9	%			86.9	%
Risk-free rate			4.54	%			4.59	%
Dividend yield			0.0	%			0.0	%
Term (years)			2.0				2.0

		Secured Convertible Notes derivative				Secured Convertible Notes derivative
Measurement event		Issuance				Shareholder approval
Date		April 27, 2023				June 9, 2023
Total value (b)		$0.2 million				$0.2 million
Gain		not applicable				$40 thousand
Assumptions:
Exercise price		$	1.30			$	1.30
Market price		$	0.72	(a)		$	0.75
Volatility			80.1	%			76.9	%
Risk-free rate			4.88	%			5.41	%
Dividend yield			0.0	%			0.0	%
Term (years)			0.8				0.7

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
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