| Stockholders’ Equity |
Note
4 – Stockholders’ Equity
Common
Stock
Financings
During
the year ended December 31, 2025, we issued 2,418,492
shares of our common stock through several capital raising events described below:
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On
January 29, 2025, we sold 41,239 shares of our common stock, pre-funded warrants to purchase up to 280,788 shares of our common stock,
and accompanying Series A Warrants to purchase up to 322,027 shares of our common stock and Series B Warrants to purchase up to 161,014
shares of our common stock for net proceeds of $4.4 million, after deducting placement agent fees and offering-related expenses under
a best efforts public offering (the “January 2025 Offering”) at a combined purchase price of $15.38 for institutional
investors and $19.94 for the Company’s Chief Executive Officer and certain board members who participated in the January 2025
Offering. The Series A and B Warrants both have an exercise price of $16.25 per share of common stock. The Series A Warrants expire on July 18, 2030
and the Series B Warrants expire on January 18, 2027. At December 31, 2025, all pre-funded warrants sold in this offering were
exercised and no Series A or B Warrants have been exercised. |
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On
June 18, 2025, we sold 572,400
shares of our common stock, pre-funded warrants to purchase up to 547,600
shares of our common stock, and accompanying common stock warrants to purchase up to 1,120,000
shares of our common stock for net proceeds of $6.2
million, after deducting placement agent fees and offering-related expenses under a best efforts public offering (the “June
2025 Offering”). We sold one share of our common stock and accompanying common warrant at a combined price of $6.25
per share, and a pre-funded warrant and accompanying common warrant at a combined price of $6.2499
per share. The common warrants have an exercise price of $6.25
per share, are immediately exercisable and expire five years after their original issuance. The pre-funded warrants have an exercise
price of $0.0001
and are also immediately exercisable. We issued placement agent warrants to purchase up to 44,800
shares of common stock at an exercise price of $7.81
per share. Warrants to purchase 281,749
shares of common stock for $1.8
million and all pre-funded warrants were exercised during the year ended December 31, 2025. |
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On
August 4, 2025, we sold 218,688
shares of our common stock at an offering price of $5.75
per share to an accredited investor for net proceeds of $1.2
million, after deducting transaction-related expenses. No warrants were issued as part of this capital raise. |
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We
sold 476,028 shares at an average price of $6.42 per share for aggregate net proceeds of $3.0 million under our ATM Offering. |
During
the year ended December 31, 2024, we issued 94,253
shares of our common stock through several capital raising events described below:
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On
January 30, 2024, we closed a public offering (the “January 2024 Offering”) for the sale of 19,040 shares of common stock,
Pre-Funded Warrants to purchase up to 43,183 shares
of common stock in lieu of shares of common stock, and Common Warrants to purchase up to 62,223 shares of our common stock. The Common
Warrants have an exercise price of $112.50, are immediately exercisable and expire on January 30, 2029. The shares of common stock
were offered at a combined public offering price of $112.50 per share and accompanying Common Warrant and $112.4999 per Pre-Funded
Warrant and accompanying Common Warrant. The Pre-Funded Warrants had an exercise price of $0.0001 and were exercised in full simultaneously
with the closing of the January 2024 Offering in exchange for 43,183 shares of our common stock. We received $6.3 million in net
proceeds from the January 2024 Offering, after deducting the fees of the placement agent and other offering-related expenses.
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We
sold 32,030 shares at an average price of $48.26 per share for aggregate net proceeds of $1.5 million under our ATM Offering. |
We
also issued to the placement agent warrants to purchase 2,490
shares of common stock, exercisable at $140.63
per share that expire on February
1, 2027.
Treasury
Stock
On
February 15, 2026, the Board approved the retirement of the 200 shares held in treasury stock.
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