v3.25.2
Note 8 - Share-based Compensation
6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

(8)

Share-Based Compensation

 

The share-based compensation expense is recorded in research and development, and selling, general and administrative expenses based on the employee's or non-employee’s respective function. No share-based compensation was capitalized during the periods presented. Share-based compensation expense for the three and six months ended June 30, 2025 and 2024 was recorded as follows (in thousands):

 

   

Three months ended

   

Six months ended

 
   

June 30,

   

June 30,

 
   

2025

   

2024

   

2025

   

2024

 

Research and development

  $ 55     $ 102     $ 150     $ 217  

Selling, general and administrative

    43       82       118       171  

Total share-based compensation

  $ 98     $ 184     $ 268     $ 388  

 

The following table summarizes the activity of stock options and related information:

 

   

Number of

shares

   

Weighted

average

exercise price

   

Weighted

average

remaining

contractual

term (years)

   

Aggregate

intrinsic value
(in thousands)

 
                                 

Balance, December 31, 2024

    168,184     $ 47.97       6.6     $  

Stock options forfeited

    (715 )     23.68                  

Balance, June 30, 2025

    167,469     $ 48.08       6.0     $  

Exercisable, June 30, 2025

    132,377     $ 56.93       5.4     $  

 

Unrecognized share-based compensation for employee and nonemployee options granted through June 30, 2025 is $422,000 to be recognized over a remaining weighted average service period of 1.7 years.

 

Share-Based Compensation (RSUs)

 

The following summarizes the activity of non-vested RSUs:

 

           

Weighted

 
           

average

 
           

grant date

 
   

Number of

   

fair value

 
   

shares

   

per share

 

Balance, December 31, 2024

        $ n/a  

RSUs granted

    1,000       2.09  

RSUs released

    (1,000 )     2.09  

Balance, June 30, 2025

        $ n/a  

 

RSUs vested and settled are converted into our common stock on a one-for-one basis. RSUs are generally subject to forfeiture if employment terminates prior to the release of vesting restrictions. The related compensation expense, which is based on the grant date fair value of our common stock multiplied by the number of units granted, is recognized ratably over the period during which the vesting restrictions lapse. Unrecognized share-based compensation for employee and nonemployee RSUs granted through June 30, 2025 was $0.