v3.26.1
Note 9 - Stockholders' Equity and Common Stock Warrants
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Equity [Text Block]

9. Stockholders' Equity and Common Stock Warrants

 

Warrants

 

As of March 31, 2026, the Company had the following warrants outstanding to acquire shares of its common stock:

 

   

Outstanding

   

Exercise price per share

 

Expiration dates

Historical EIP common stock warrants

    43,618     $ 19.81  

April 2028

Series A common stock warrants

    2,532,285     $ 39.24  

April 2027

      2,575,903            

 

May 2025 At-The-Market Offering Program

 

On May 12, 2025, the Company entered into the Sales Agreement with Leerink Partners LLC, as sales agent, pursuant to which the Company may offer and sell shares of common stock from time-to-time with an aggregate offering price of up to $50.0 million under an “at-the-market" offering program. During the year ended December 31, 2025, the Company sold 550,000 shares of common stock to an institutional investor in a block sale for proceeds of $4.7 million, net of $0.1 million of issuance costs. There was no activity related to the Sales Agreement during the three months ended March 31, 2026.