Note 5 - Equity

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Equity [Text Block]

5. Equity 

Lincoln Park Equity Line

The Company did not utilize the 2021 Lincoln Park purchase agreement during the six months ended June 30, 2024. The 2021 Lincoln Park Agreement terminated in June 2024. 

Other Components of Equity 

In March 2024, the Company issued 6,834 shares of common stock to consultants in exchange for services to be provided. In addition, during the six months ended June 30, 2024, the Company issued 19,743 shares of common stock related to the vesting of restricted stock units.

Stock-Based Compensation and Outstanding Awards

The 2015 Stock Plan provides for the grant of stock options, stock awards, stock unit awards, and stock appreciation rights to employees, non-employee directors and consultants. In May 2023 and 2022, the 2015 Stock Plan (the Plan) was amended to authorize an additional 116,667 shares and 133,334 shares, respectively, such that 366,667 total shares may be issued under the Plan. As of June 30, 2024, there were 1,053 shares remaining to be issued under the 2015 Stock Plan. 

Stock-based compensation expense for the three and six months ended June 30, 2024 and 2023, respectively, is as follows (table in thousands): 

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
General and administrative	$	340	$	379	$	721	$	748
Research and development		113		134		225		264
Total stock-based compensation expense	$	453	$	513	$	946	$	1,012

On May 8, 2024 the Company issued 1,000 options to purchase the company stock under the 2015 Stock Plan to a Science Advisory Board member.