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Note 8 - Subsequent Events
9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Subsequent Events [Text Block]

8. Subsequent Events 

 

On November 12, 2025, the Compensation Committee of our board of directors approved, and we issued, in connection with our 2024/2025 compensation year, to certain of our executive officers and board members and advisors, ten-year options to purchase an aggregate of 2,605,000 shares of our common stock pursuant to the Company’s 2024 Stock Plan with an exercise price of $0.49 per share, which vest in four equal annual, except installments subject to the respective individual’s continued service with us as of each such vesting date; and performance stock units to acquire an aggregate of 1,550,000 shares of our common stock, which vest upon the attainment of performance milestones related to our lead clinical trial.

 

Subsequent to September 30, 2025, 736,549 shares were sold under the ATM Agreement for gross proceeds of $0.4 million at prices ranging from $0.4349 to $0.5601. Pursuant to the terms of the Series F warrants, the exercise price of the Series F warrants was lowered to $0.4349 per share on November 13, 2025, which was the sole date on which sales under the ATM Agreement were made at a price less than $0.55 per share.