Note 9 - Stock Based Compensation (Tables)

3 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Share-Based Payment Arrangement, Option, Activity

The following table summarizes information about activities within the Stock Option Plan for the three-month period ended June 30, 2024:

	Number of options		Weighted-average exercise price		Remaining Contractual Term (years)		Aggregate Intrinsic Value (in thousands)
			$
Outstanding, March 31, 2024		721,793		3.68		9.08		527
Granted		198,130		2.96
Outstanding, June 30, 2024		919,923		3.53		9.05		241
Exercisable, June 30, 2024		378,174		4.41		8.65		115

Share-Based Payment Arrangement, Expensed and Capitalized, Amount

Compensation expense recognized under the Stock Option Plan is summarized as follows:

	Three months ended
	June 30, 2024		June 30, 2023
	$		$
Research and development expenses		65		2
General and administrative expenses		173		76
		238		78

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The weighted-average grant date fair value of awards for options granted during the three months ended June 30, 2024 was $2.52. The fair value of options granted was estimated using the Black-Scholes option pricing model, resulting in the following weighted-average assumptions for the options granted:

	June 30, 2024	June 30, 2023
	Weighted-average	Weighted-average
Exercise price	$2.96	—
Share price	$2.96	—
Dividend	—	—
Risk-free interest	4.43%	—
Estimated life (years)	5.81	—
Expected volatility	114.37%	—