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Note 3 - Fair Value (Tables)
3 Months Ended
Mar. 31, 2021
Notes Tables  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
  

March 31, 2021

 
  

(in thousands)

 
                 

Description

 

Quoted Prices in

Active Markets for

Identical Assets

(Level 1)

  

Significant Other

Observable Inputs

(Level 2)

  

Significant

Unobservable Inputs

(Level 3)

  

Total

 

Assets measured at fair value

                

Cash and cash equivalents

 $165,245  $-  $-  $165,245 

Restricted cash

  1,149   -   -   1,149 

Total assets measured at fair value

 $166,394  $-  $-  $166,394 

Liabilities measured at fair value

                

Contingent consideration

 $-  $-  $4,193  $4,193 

Total liabilities measured at fair value

 $-  $-  $4,193  $4,193 
  

December 31, 2020

 
  

(in thousands)

 
                 

Description

 

Quoted Prices in

Active Markets for

Identical Assets

(Level 1)

  

Significant Other

Observable Inputs

(Level 2)

  

Significant

Unobservable Inputs

(Level 3)

  

Total

 

Assets measured at fair value

                

Cash and cash equivalents

 $16,363  $-  $-  $16,363 

Restricted cash

  1,166   -   -   1,166 

Total assets measured at fair value

 $17,529  $-  $-  $17,529 

Liabilities measured at fair value

                

Contingent consideration

 $-  $-  $3,936  $3,936 

Warrant liabilities

  -   -   255   255 

Total liabilities measured at fair value

 $-  $-  $4,191  $4,191 
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
  

For the three

months ended

March 31,

  

December 31,

 

Series B Warrants

 

2021

  

2020

 
         

Valuation methodology

  Black-Scholes-Merton   Black-Scholes-Merton 

Term (years)

  1.22   1.32 

Risk free rate

  0.07%  0.10%

Dividends

  -   - 

Volatility

  174%  150.97%

Share price

 $4.21  $0.63 
      

Weighted Average (range, if applicable)

 
  

Valuation

 

Significant

 

March 31,

  

December 31,

 
  

Methodology

 

Unobservable Input

 

2021

  

2020

 
                 

Contingent consideration

 

Probability weighted income approach

 

Milestone dates

  2024to2029   2024to2029 
    

Discount rate

   9.25%    9.5%to15.75% 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
  

Fair Value Measurement at

Reporting Date (Level 3)

 
  

(in thousands)

 
  

Common stock

warrants

  

Contingent

consideration

 

Balance at December 31, 2020

 $255  $3,936 

Exercise of warrants

  (2,236)  - 

Change in fair value

  1,981   257 

Balance at March 31, 2021

 $-  $4,193 
         

Current portion

 $-  $- 

Long-term portion

  -   4,193 

Balance at March 31, 2021

 $-  $4,193