Note 5 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2025

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Fair Value			Fair value measurement using
	September 30,
(in thousands)	2025			Level 1		Level 2		Level 3
Assets:
Money market funds	$	57		$	57	$	-	$	-
Total Assets	$	57		$	57	$	-	$	-
Liabilities:
Convertible notes payable	$	(2,590	)	$	-	$	-	$	(2,590	)
Derivative liability - ELOC commitment note		(5,089	)						(5,089	)
Common stock warrant liability		(2	)		-		-		(2	)
Total Liabilities	$	(7,681	)	$	-	$	-	$	(7,681	)

	Fair Value			Fair value measurement using
	December 31,
(in thousands)	2024			Level 1		Level 2		Level 3
Assets:
Money market funds	$	598		$	598	$	-	$	-
Total Assets	$	598		$	598	$	-	$	-
Liabilities:
Derivative liability - ELOC commitment note	$	(299	)	$	-	$	-	$	(299	)
Common stock warrant liability		(305	)		-		-		(305	)
Total Liabilities	$	(604	)	$	-	$	-	$	(604	)

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

	Nine Months Ended September 30, 2025
Issuance of convertible notes payable		8,566
Principal payments		(2,200	)
Change in fair value		(3,776	)
Balance at September 30, 2025	$	2,590

	Nine Months Ended September 30, 2025
Balance at December 31, 2024	$	305
Change in fair value		(292	)
Settlement of common stock warrant liability		(20	)
Deemed dividend		9
Balance at September 30, 2025	$	2

	Nine Months Ended September 30, 2025
Balance at December 31, 2024	$	299
Change in fair value of June 2024 ELOC commitment note		(188	)
Extinguishment of derivative of June 2024 ELOC commitment note		(111	)
Initial recognition of derivative liability of July 2025 ELOC commitment note		5,702
Change in fair value of July 2025 ELOC commitment note		(613	)
Balance at September 30, 2025	$	5,089

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

	June 5, 2025 Issuance Date			September 30, 2025
Fair value of underlying equity	$	0.59		$	0.07
Conversion price	$	0.59		$	0.59
Volatility		198.8	%		244.4	%
Risk-free interest rate		4.1	%		3.8	%
Expected term (in years)		1.0			0.9
Discounting factor		0.842			0.899

	September 30, 2025			December 31, 2024
Fair value of underlying equity	$	0.07		$	0.35
Exercise price	$	0.30		$	1.28
Volatility		161.6	%		n/a
Risk-free interest rate		3.7	%		4.4	%
Expected term (in years)		4.3			5.1
Discounting factor		n/a			0.81

	September 30, 2025
Fair value of underlying equity	$0.32-$0.35
Volatility		240.2%-252.0%
Risk-free interest rate		4.2	%
Conversion price discount		20.0	%
Discounting period (in years)		0.5
Discount rate		9.1	%
Discounting factor		0.96

Fair Value Measurements, Nonrecurring [Table Text Block]

	Fair Value		Fair value measurement using
	December 31,
(in thousands)	2024		Level 1		Level 2		Level 3
Intangible assets:
Rostafuroxin drug candidate	$	1,790	$	-	$	-	$	1,790