Note 11 - Subsequent Events

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Subsequent Events [Text Block]

11.

 

Subsequent Events

2021

Warrant Exercises

From

January 1, 2021

through

March 15, 2021,

warrants were exercised by multiple holders to purchase a total of

4,230,000

shares of the Company's common stock for aggregate gross proceeds of approximately

$2.2

million.

2021

Common Stock Offering

In

February 2021,

the Company completed the

February 2021

Offering in which it offered and sold

33,658,538

shares of its common stock in an underwritten, public offering for a purchase price to the public of

$1.025

per share, inclusive of shares offered and sold pursuant to the exercise-in-full by the underwriter of its

30

-day option to purchase additional shares. The

February 2021

Offering resulted in aggregate net proceeds to the Company of

$31.2

million, after deducting underwriting commissions, discounts, and expenses but prior to deducting other offering costs. In addition, at the closings of the

February 2021

Offering, the Company issued to designees of the underwriter of the transaction warrants to purchase up to an aggregate of

1,682,927

shares of common stock to designees. The underwriter warrants have an exercise price of

$1.28125

per share and a term of

five

years from the date of issuance.