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Note 6 - Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2024
Table Text Block [Abstract]  
Schedule of Fair Value of Options Granted

The fair value of options granted during the years ended December 31, 2024 and December 31, 2023 is estimated as of the grant date using the Black-Scholes option pricing model using the assumptions in the following table:

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Weighted-average exercise price per share

 

$

4.54

 

 

$

20.85

 

Weighted-average expected term (years)

 

 

5.65

 

 

 

5.66

 

Weighted-average risk-free interest rate

 

 

4.03

%

 

 

4.08

%

Weighted-average expected dividend yield

 

 

 

 

 

 

Weighted-average volatility

 

 

111.74

%

 

 

78.35

%

 

Schedule of Summarized Stock Option Activity

The following table summarizes stock option activity and related information under the 2013 Plan, the 2021 EIP and the 2021 Inducement Plan for the year ended December 31, 2024:

 

 

 

Number of
Options

 

 

Weighted
Average
Exercise Price

 

 

Weighted
Average
Remaining Contractual
Life (Years)

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

Outstanding at December 31, 2023

 

 

44,276

 

 

$

233.09

 

 

 

6.08

 

 

$

 

Granted

 

 

12,300

 

 

 

4.54

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited, expired or cancelled

 

 

(5,902

)

 

 

335.18

 

 

 

 

 

 

 

Outstanding at December 31, 2024

 

 

50,674

 

 

 

166.48

 

 

 

8.75

 

 

 

 

Vested and expected to vest at December 31, 2024

 

 

50,674

 

 

 

166.48

 

 

 

8.75

 

 

 

 

Exercisable at December 31, 2024

 

 

22,825

 

 

 

349.89

 

 

 

8.44

 

 

 

 

Schedule of Restricted Stock Units Activity

The following table summarizes RSU activity and related information under the 2021 EIP and the 2021 Inducement Plan for the year ended December 31, 2024:

 

 

 

Number of
Restricted
Stock Units

 

 

Weighted
Average
Grant Date
Fair Value
Per Share

 

 

Weighted
Average
Remaining Contractual
Life (Years)

 

Non-vested at December 31, 2023

 

 

24,195

 

 

$

17.30

 

 

 

2.17

 

Granted

 

 

 

 

 

 

 

 

 

Vested

 

 

(23,067

)

 

 

17.23

 

 

 

 

Forfeited

 

 

(1,128

)

 

 

18.84

 

 

 

 

Non-vested at December 31, 2024

 

 

 

 

 

 

 

 

 

Schedule of Stock-based Compensation for all Stock Awards

The allocation of stock-based compensation for all stock option, RSU and PSU awards is as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

 

 

 

Research and development expense

 

$

263

 

 

$

240

 

General and administrative expense

 

 

370

 

 

 

366

 

Total

 

$

633

 

 

$

606