CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
|
| Operating expenses | ||||
| Research and development | $ 4,883,337 | $ 1,254,653 | $ 10,908,538 | $ 4,227,967 |
| Cost to acquire IPR&D asset | 0 | 21,215,214 | 0 | 21,215,214 |
| General and administrative | 4,638,927 | 2,235,899 | 13,171,547 | 5,357,577 |
| Change in estimate for legal contingencies | (4,553,468) | 0 | (4,553,468) | (151,842) |
| Total operating expenses | 4,968,796 | 24,705,766 | 19,526,617 | 30,648,916 |
| Operating loss | (4,968,796) | (24,705,766) | (19,526,617) | (30,648,916) |
| Other (income) expense | ||||
| Interest (income) expense | (90,766) | 271,307 | 796,222 | 476,135 |
| Interest income | (907,697) | (16,562) | (2,296,488) | (49,669) |
| (Gain) loss from asset sales | (72,837) | 0 | (1,217,978) | 307,086 |
| Debt conversion inducement expense | 0 | 0 | 0 | 1,383,285 |
| Wind-down costs | 0 | (14,677) | 0 | 455,504 |
| Other expense (income) | 801 | 0 | 2,200 | (3) |
| Total other (income) expense, net | (1,070,499) | 240,068 | (2,716,044) | 2,572,338 |
| Loss before income taxes | (3,898,297) | (24,945,834) | (16,810,573) | (33,221,254) |
| Provision for income taxes | 0 | 0 | 10,071 | 3,600 |
| Net loss | $ (3,898,297) | $ (24,945,834) | $ (16,820,644) | $ (33,224,854) |
| Loss per common share: | ||||
| Basic (in dollars per share) | $ (0.10) | $ (3.17) | $ (0.48) | $ (6.38) |
| Diluted (in dollars per share) | $ (0.10) | $ (3.17) | $ (0.48) | $ (6.38) |
| Weighted average shares of common stock outstanding used to compute earnings per share: | ||||
| Basic (in shares) | 38,819,387 | 7,880,546 | 35,317,352 | 5,207,411 |
| Diluted (in shares) | 38,819,387 | 7,880,546 | 35,317,352 | 5,207,411 |
| X | ||||||||||
- Definition Gain (Loss) from Estimated Legal Contingency No definition available.
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- Definition In Process Research and Development Expense No definition available.
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- Definition Wind-Down Costs No definition available.
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Consideration given by issuer of convertible debt to provide an incentive for debt holders to convert the debt to equity securities. The expense is equal to the fair value of all securities and other consideration transferred in the transaction in excess of the fair value of securities issuable pursuant to the original conversion terms. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense for research and development. Excludes cost for computer software product to be sold, leased, or otherwise marketed, writeoff of research and development assets acquired in transaction other than business combination or joint venture formation or both, and write-down of intangible asset acquired in business combination or from joint venture formation or both, used in research and development activity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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