Note 4 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

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

	June 30, 2024
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash and cash equivalents (1)	$	7,782	$	-	$	-		7,782
Restricted cash		1,517		-		-		1,517
Total assets	$	9,299	$	-	$	-	$	9,299
Liabilities:
Contingent consideration	$	-	$	-	$	14,400	$	14,400
Warrant liabilities		-		-	$	5,597	$	5,597
Total liabilities	$	-	$	-	$	19,997	$	19,997

	December 31, 2023
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash and cash equivalents (1)	$	17,096	$	-	$	-	$	17,096
Restricted cash		1,642		-		-		1,642
Short-term investments		-		3,971		-		3,971
Total assets	$	18,738	$	3,971	$	-	$	22,709
Liabilities:
Contingent consideration	$	-	$	-	$	2,220	$	2,220
Warrant liabilities		-		-		5,888		5,888
Total liabilities	$	-	$	-	$	8,108	$	8,108

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

	Fair value
	(in thousands)
Balance at December 31, 2023	$	5,888
Change in estimated fair value		(291	)
Balance at June 30, 2024	$	5,597

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

	As of June 30, 2024		As of December 31, 2023
Expected volatility		108%		117%
Risk-free interest rate		4.4%		3.8%
Expected life (in years)		4.1		4.6
Expected dividend yield		0.0%		0.0%

	Valuation Methodology	Significant Unobservable Inputs	June 30, 2024	December 31, 2023
Contingent consideration	Probability weighted income approach	Milestone date	2032	2032
		Revenue discount rate	10.5%	10.0%
		Revenue volatility	35.0%	35.0%
		EUR-to-USD exchange rate	1.07	1.10
		Probability of occurrence	90.0%	-

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	Fair value
	(in thousands)
Balance at December 31, 2022	$	1,256
Change in estimated fair value		308
Balance at June 30, 2023	$	1,564
Balance at December 31, 2023	$	2,220
Change in estimated fair value		12,180
Balance at June 30, 2024	$	14,400