Note 4 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

	March 31, 2024
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash and cash equivalents (1)	$	6,995	$	-	$	-		6,995
Restricted cash		1,483		-		-		1,483
Short-term investments		-		994		-		994
Total assets	$	8,478	$	994	$	-	$	9,472
Liabilities:
Contingent consideration	$	-	$	-	$	8,700	$	8,700
Warrant liabilities					$	3,772	$	3,772
Total liabilities	$	-	$	-	$	12,472	$	12,472

	December 31, 2023
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash and cash equivalents (1)	$	17,096	$	-	$	-	$	17,096
Restricted cash		1,642		-		-		1,642
Short-term investments		-		3,971		-		3,971
Total assets	$	18,738	$	3,971	$	-	$	22,709
Liabilities:
Contingent consideration	$	-	$	-	$	2,220	$	2,220
Warrant liabilities		-		-		5,888		5,888
Total liabilities	$	-	$	-	$	8,108	$	8,108

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

	Fair value
	(in thousands)
Balance at December 31, 2023	$	5,888
Change in estimated fair value		(2,116	)
Balance at March 31, 2024	$	3,772

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

	As of March 31, 2024		As of December 31, 2023
Expected volatility		116%		117%
Risk-free interest rate		4.2%		3.8%
Expected life (in years)		4.3		4.6
Expected dividend yield		0.0%		0.0%

	Valuation Methodology		Significant Unobservable Inputs		March 31, 2024		December 31, 2023
Contingent consideration		Probability weighted income approach		Milestone date		2032		2032
				Revenue discount rate		10.0%		10.0%
				Revenue volatility		32.5%		35.0%
				EUR-to-USD exchange rate		1.08		1.10
				Probability of occurrence		50.0%		-

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

	Fair value
	(in thousands)
Balance at December 31, 2022	$	1,256
Change in estimated fair value		105
Balance at March 31, 2023	$	1,361
Balance at December 31, 2023	$	2,220
Change in estimated fair value		6,480
Balance at March 31, 2024	$	8,700