Genelux (GNLX) 10-K 29 Mar 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Mar. 26, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-41599
Entity Registrant Name	GENELUX CORPORATION
Entity Central Index Key	0001231457
Entity Tax Identification Number	77-0583529
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	2625 Townsgate Road
Entity Address, Address Line Two	Suite 230
Entity Address, City or Town	Westlake Village
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91361
City Area Code	(805)
Local Phone Number	267-9889
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	GNLX
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	true
Entity Shell Company	false
Entity Public Float			$ 671.3
Entity Common Stock, Shares Outstanding		26,865,473
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	572
Auditor Name	Weinberg & Company, P.A
Auditor Location	Los Angeles, California

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 9,418	$ 397
Short-term investments	13,773
Prepaid expenses and other current assets	1,012	1,495
Total Current Assets	24,203	1,892
Property and equipment, net	1,170	644
Right of use assets	2,428	1,335
Deferred offering costs		1,568
Other assets	92	92
Total Other Assets	3,690	3,639
TOTAL ASSETS	27,893	5,531
Current Liabilities
Accounts payable and accrued expenses	3,784	6,775
Accrued payroll and payroll taxes	2,117	2,852
Accrued interest payable		1,178
Accrued interest payable - director and shareholders		3,817
Deferred revenue		170
Warrant liabilities		169
Lease liability, current portion	653	266
Notes payable - shareholders, net of debt discount of $108 in 2022		992
Convertible notes payable - shareholders, current portion		15,407
Total Current Liabilities	6,554	31,626
Long-term Liabilities
Lease liability, long-term portion	1,866	1,164
Convertible notes payable, net of debt discount of $541 in 2022		8,524
Total Long-term Liabilities	1,866	9,688
Total Liabilities	8,420	41,314
Shareholders’ Equity (Deficit)
Preferred stock, Series A through K, par value $0.001, 10,000,000 shares authorized as of 12/31/2023 and 29,927,994 authorized as of 12/31/2022; no shares and 22,094,889 shares issued and outstanding, respectively;		22
Common stock, par value $0.001, 200,000,000 shares authorized; 26,788,986 and 9,126,726 shares issued and outstanding, respectively	27	9
Treasury stock, 433,333 shares, at cost	(433)	(433)
Additional paid-in capital	241,389	154,401
Accumulated other comprehensive income	14	2
Accumulated deficit	(221,524)	(189,784)
Total Shareholders’ Equity (Deficit)	19,473	(35,783)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)	$ 27,893	$ 5,531

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt discount, current		$ 108
Debt discount, noncurrent		$ 541
Preferrred stock, par value		$ 22,095
Preferred stock, shares authorized		29,927,994
Preferred stock, shares issued		22,094,889
Preferred stock, shares outstanding		22,094,889
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	26,788,986	9,126,726
Common stock, shares outstanding	26,788,986	9,126,726
Treasury stock, shares	433,333	433,333
Series A Through K Preferred Stock [Member]
Preferrred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	29,927,994
Preferred stock, shares issued	0	22,094,889
Preferred stock, shares outstanding	0	22,094,889

Statements of Operations

Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenues	$ 170	$ 11,068
Operating expenses:
Research and development	12,767	9,078
General and administrative	11,568	5,003
Total operating expenses	24,335	14,081
Loss from operations	(24,165)	(3,013)
Other income (expenses):
Interest income	244
Interest expense	(173)	(1,150)
Debt discount amortization	(649)	(258)
Financing costs	(3,152)
Debt extinguishment costs	(402)
Gain on forgiveness of PPP loan payable		314
Total other income (expenses), net	(4,132)	(1,094)
Loss before provision for foreign income taxes	(28,297)	(4,107)
Provision for foreign income taxes		(1,100)
NET LOSS	$ (28,297)	$ (5,207)
LOSS PER COMMON SHARE - BASIC	$ (1.16)	$ (0.57)
LOSS PER COMMON SHARE - DILUTED	$ (1.16)	$ (0.57)
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - BASIC	24,429,278	9,116,489
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING - DILUTED	24,429,278	9,116,489

Statements of Comprehensive Los

Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net loss	$ (28,297)	$ (5,207)
Other comprehensive loss:
Net unrealized gain on short-term investments	12
Comprehensive loss	$ (28,285)	$ (5,207)

Statements of Shareholders' Equ

Statements of Shareholders' Equity (Deficit) - USD ($) $ in Thousands	Series A Through K Preferred Stock [Member] Preferred Stock [Member]	Common Stock [Member]	Treasury Stock, Common [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2021	$ 22	$ 9	$ (433)	$ 151,866	$ 2	$ (184,577)	$ (33,111)
Balance, shares at Dec. 31, 2021	22,094,889	9,110,060	(433,333)
Stock compensation				2,415			2,415
Issuance of common shares upon exercise of stock warrants				120			120
Issuance of common shares upon exercise of stock warrants, shares		16,666
Net loss						(5,207)	$ (5,207)
Issuance of common shares upon exercise of stock options, shares
Balance at Dec. 31, 2022	$ 22	$ 9	$ (433)	154,401	2	(189,784)	$ (35,783)
Balance, shares at Dec. 31, 2022	22,094,889	9,126,726	(433,333)
Stock compensation				2,515			2,515
Issuance of common shares upon exercise of stock warrants		$ 1		2,988			2,989
Issuance of common shares upon exercise of stock warrants, shares		528,756
Net loss						(28,297)	(28,297)
Unrealized gain on short-term investments					12		12
Issuance of common shares upon the closing of the initial public offering, net of offering costs		$ 3		12,629			12,632
Issuance of common shares upon the closing of the initial public offering, net of offering costs, shares		2,653,000
Issuance of common shares upon the closing of private financings, net of offering costs		$ 2		25,140			25,142
Issuance of common shares upon the closing of private financings, net of offering costs, shares		1,292,079
Issuance of common shares upon conversion of preferred stock	$ (22)	$ 8		14
Issuance of common shares upon conversion of preferred stock, shares	(22,094,889)	8,359,143
Issuance of common shares upon conversion of convertible notes payable, accrued interest and loan fees		$ 4		29,970			29,974
Issuance of common shares upon conversion of convertible notes payable, accrued interest and loan fees, shares		4,137,760
Issuance of common shares upon conversion of preferred stock dividends payable				3,443		(3,443)
Issuance of common shares upon conversion of preferred stock dividends payable, shares		272,101
Fair value of vested restricted stock units				940			940
Fair value of vested restricted stock units , shares		113,500
Cost of stock option repricing				2,689			2,689
Reclassification of warrant liabilities upon the closing of the initial public offering				169			169
Fair value of warrants issued in connection with the the conversion of convertible notes payable				3,152			3,152
Conversion of notes payable-shareholders and accrued interest				1,865			1,865
Conversion of notes payable-shareholders and accrued interest, shares		73,134
Issuance of common shares upon exercise of stock options				1,474			$ 1,474
Issuance of common shares upon exercise of stock options, shares		232,787					232,787
Balance at Dec. 31, 2023		$ 27	$ (433)	$ 241,389	$ 14	$ (221,524)	$ 19,473
Balance, shares at Dec. 31, 2023		26,788,986	(433,333)

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities
Net loss	$ (28,297)	$ (5,207)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	499	553
Net amortization of premiums and discounts on short-term investments	(62)
Right-of-use assets	519	415
Amortization of debt discount	649	258
Stock compensation	2,515	2,415
Fair value of restricted stock units	940
Cost of stock option repricing	2,689
Debt extinguishment costs	402
Fair value of warrants issued in connection with the conversion of convertible notes payable	3,152
Gain on forgiveness of PPP loan payable		(314)
(Increase) Decrease in:
Prepaid expenses and other assets	483	(168)
(Decrease) Increase in:
Accounts payable and accrued expenses	(2,358)	2,313
Accrued payroll and payroll taxes	(735)	(3)
Accrued interest payable	22	886
Deferred revenue	(170)	(4,330)
Lease liability	(523)	(389)
Net cash used in operating activities	(20,275)	(3,571)
Cash Flows from Investing Activities
Purchases of property and equipment	(1,025)	(49)
Purchases of short-term investments	(13,699)
Net cash used in investing activities	(14,724)	(49)
Cash Flows from Financing Activities
Proceeds from notes payable - shareholders	900	1,100
Repayment of notes payable - shareholders	(685)
Repayment of convertible notes payable - shareholders		(130)
Payment of deferred offering costs	(303)	(1,568)
Proceeds from the exercise of stock options	1,474
Proceeds from the exercise of stock warrants	2,989	120
Proceeds from common stock issued for cash in connection with the closing of the IPO	14,503
Proceeds from common stock issued for cash in connection with the closing of private financings	25,142
Net cash provided by (used in) financing activities	44,020	(478)
Net increase (decrease) in cash and cash equivalents	9,021	(4,098)
Cash and cash equivalents at beginning of year	397	4,495
Cash and cash equivalents at end of year	9,418	397
Supplemental cash flows disclosures:
Interest paid	72	264
Taxes paid
Supplemental non-cash financing disclosures:
Effect of the extension of right-of-use assets and operating leases	1,612	686
Reclassification of deferred offering costs to shareholders’ equity	1,871
Reclassification of warrant liabilities to shareholders’ equity	169
Conversion of convertible notes payable, accrued interest and loan fees to shareholders’ equity	29,974
Conversion of preferred stock to common stock	22
Conversion of dividends payable to shareholders’ equity	3,443
Conversion of notes payable-shareholders and accrued interest to shareholders’ equity	$ 1,463

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure [Table]
Pay vs Performance [Table Text Block]	Name Position Date of Adoption 10b5-1 Trading Arrangement* Scheduled End Date of Trading Arrangement 1 Total Number of Securities to Be Sold Pursuant to the Arrangement 2 John Thomas Director 11/21/2023 X 06/30/2024 Up to 66,333 James Tyree Director 12/13/2023 X 09/15/2024 Up to 26,730 Sean Ryder General Counsel & Corporate Secretary 11/21/2023 X 05/21/2024 Up to 15,000 Paul Scigalla Chief Medical Officer 12/12/2023 X 08/27/2024 Up to 108,555 Thomas Zindrick 3 President & CEO 12/14/2023 X 08/15/2024 Up to 142,390
Net Income (Loss) Attributable to Parent	$ (28,297)	$ (5,207)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023 shares
Trading Arrangements, by Individual [Table]
Non-Rule 10b51 Arrangement Adopted	true
Non-Rule 10b51 Arrangement Adopted	true
John Thomas [Member]
Trading Arrangements, by Individual [Table]
Trading Arrangement, Individual Name	John Thomas
Trading Arrangement, Individual Title	Director
Trading Arrangement Adoption Date	11/21/2023
Trading Arrangement, Securities Aggregate Available Amount	66,333
Trading Arrangement Expiration Date	06/30/2024
James Tyree [Member]
Trading Arrangements, by Individual [Table]
Trading Arrangement, Individual Name	James Tyree
Trading Arrangement, Individual Title	Director
Trading Arrangement Adoption Date	12/13/2023
Trading Arrangement, Securities Aggregate Available Amount	26,730
Trading Arrangement Expiration Date	09/15/2024
Sean Ryder [Member]
Trading Arrangements, by Individual [Table]
Trading Arrangement, Individual Name	Sean Ryder
Trading Arrangement, Individual Title	General Counsel & Corporate Secretary
Trading Arrangement Adoption Date	11/21/2023
Trading Arrangement, Securities Aggregate Available Amount	15,000
Trading Arrangement Expiration Date	05/21/2024
Paul Scigalla [Member]
Trading Arrangements, by Individual [Table]
Trading Arrangement, Individual Name	Paul Scigalla
Trading Arrangement, Individual Title	Chief Medical Officer
Trading Arrangement Adoption Date	12/12/2023
Trading Arrangement, Securities Aggregate Available Amount	108,555
Trading Arrangement Expiration Date	08/27/2024
Thomas Zindrick [Member]
Trading Arrangements, by Individual [Table]
Trading Arrangement, Individual Name	Thomas Zindrick3
Trading Arrangement, Individual Title	President & CEO
Trading Arrangement Adoption Date	12/14/2023
Trading Arrangement, Securities Aggregate Available Amount	142,390
Trading Arrangement Expiration Date	08/15/2024

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE 1 – BASIS OF PRESENTATION Organization and Operations Genelux Corporation (“Genelux” or the “Company”), a Delaware Corporation, incorporated on September 4, 2001, is a biomedical company located in Westlake Village, California. The Company is engaged in the research and development of diagnostic and therapeutic solutions for cancer for which there is no effective treatment today. The Company is focused on the development of therapeutic approaches for cancer that are designed to generate a personalized multi-prong attack to overwhelm a tumor’s sophisticated defense mechanisms. Going Concern The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, the Company has experienced recurring losses from operations since inception and incurred a net loss of $ 28,297 20,275 At December 31, 2023, the Company had cash and cash equivalents, and short-term investments, in the amount of $ 23,191 No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing, or cause substantial dilution for our stockholders, in case of equity financing, or grant unfavorable terms in future licensing agreements. Reverse Stock Split In August 2022, the Company effected a 1-for-3 reverse stock split

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the financial statement date and reported amounts of revenue and expenses during the reporting period. Significant estimates are used in the valuation of accruals for potential liabilities, valuations of stock-based compensation, and realization of deferred tax assets, among others. Actual results could differ from these estimates. Income (Loss) Per Share Basic loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of outstanding common shares during the period. Diluted loss per share is computed by dividing the net loss applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. For the years ended December 31, 2023 and 2022, the basic and diluted shares outstanding were the same, as potentially dilutive shares were considered anti-dilutive. The potentially dilutive securities consisted of the following: SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES December 31, December 31, Convertible notes payable - 3,394,569 Common stock equivalent of Series A through K convertible preferred stock - 7,567,630 Stock options 5,067,339 4,201,019 Stock warrants 512,759 725,174 Restricted stock units 57,900 - Stock warrants, issuable upon conversion of notes payable - 183,852 Total 5,637,998 16,072,244 Revenue Recognition The Company records revenue under the guidance of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (Topic 606) The Company determines revenue recognition through the following steps: ● Identification of the contract, or contracts, with a customer; ● Identification of the performance obligations in the contract; ● Determination of the transaction price; ● Allocation of the transaction price to the performance obligations in the contract; and ● Recognition of revenue when, or as, we satisfy a performance obligation. Under certain of the Company’s licensing, supply and collaboration agreements, it is entitled to receive payment upon the achievement of contingent milestone events or the performance of obligations. The Company recognizes revenue based on guidance in ASC 606. In evaluating revenue recognition under a license agreement, the Company uses a two-step process for determining whether a promised good or service (including a license of intellectual property) is distinct and, therefore, is a performance obligation: (1) consideration of the individual good or service (i.e., whether the good or service is capable of being distinct); and (2) consideration of whether the good or service is separately identifiable from other promises in the contract (i.e., whether the promise to transfer the good or service is distinct in the context of the contract). Amounts received prior to satisfying the revenue recognition criteria are recorded as deferred revenue on the Company’s balance sheet. Amounts expected to be recognized as revenue in the next 12 months following the balance sheet date are classified as current liabilities. During the year ended December 31, 2022, the Company, under the Newsoara License Agreement (see Note 12), invoiced and collected $ 170 Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentration of credit risk, consist primarily of cash deposits. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company has not experienced any losses on deposits since inception. Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less at date of purchase to be cash equivalents. Cash equivalents consisted of money market funds as of December 31, 2023. There were no 7,924 Short-Term Investments The Company’s short-term debt security investments are classified as available-for-sale and are carried at fair value, with the unrealized gains and non-credit related losses reported as a component of accumulated other comprehensive loss and included in stockholders’ equity. Realized gains and losses and declines in value determined to be other than temporary are based on the specific identification method and are included as a component of total other income (expense), net in the Statements of Operations. There were no realized gains or losses during the year ended December 31, 2023. For available-for-sale securities in an unrealized loss position, we first assess whether we intend to sell, or if it is more likely than not that we will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through a charge to interest income. For available-for-sale securities that do not meet the aforementioned criteria, we evaluate whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Company considers such factors as, among other things, the severity of the impairment, any changes in interest rates, how long the market value of the investment has been less than its original cost, the Company’s ability and intent to retain the short-term debt security investment for a period of time sufficient to allow for any anticipated recovery in fair value and market conditions in general. The credit-related portion of unrealized losses, and any subsequent improvements, are recorded in interest income through an allowance account. Any impairment that has not been recorded through an allowance for credit losses is included in other comprehensive loss on the statements of operations and comprehensive loss. No credit-related losses or impairments have been recognized on the Company’s investments in available-for-sale securities during the year ended December 31, 2023. All of the Company’s short-term investments as of December 31, 2023 had maturities of less than one year. Deferred Offering Costs The Company capitalizes certain legal, professional, accounting and other third-party fees that are directly associated with in-process equity issuances as deferred offering costs until such equity issuances are consummated. After consummation of the equity issuance, these costs are recorded as a reduction in the capitalized amount associated with the equity issuance. Should the equity issuance be delayed or abandoned, the deferred offering costs will be expensed immediately as a charge to operating expenses in the Statement of Operations. As of December 31, 2022, the Company incurred $ 1,568 303 1,871 Property and Equipment Property and equipment are recorded at cost, less accumulated depreciation and amortization. Property and equipment is depreciated over the estimated useful life of the asset or the term of the lease using the straight-line method, whichever is shorter. Maintenance and repairs are charged to expense as incurred. At the time depreciable property is retired or otherwise disposed of, the related cost and accumulated depreciation or amortization are removed from the accounts and any resulting gain or loss is reflected in operations. The Company has determined the estimated useful lives of its property and equipment, as follows: SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIFE Furniture and office equipment 5 Laboratory equipment 5 Computer equipment 3 Leasehold improvements Life of lease Management assesses the carrying value of property and equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. Fair Value of Financial Instruments The Company determines the fair value of its assets and liabilities based on the exchange price in U.S. dollars that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a fair value hierarchy with three levels of inputs, of which the first two are considered observable and the last unobservable, to measure fair value: ● Level 1 — ● Level 2 — ● Level 3 — The Company’s short-term investments and cash equivalents are carried at fair value, determined according to the fair value hierarchy described in Note 3 below. The carrying amount of the Company’s warrant liabilities of $ 169 Income Taxes Income tax expense is based on pretax financial accounting income. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized. The Company recorded a valuation allowance against its deferred tax assets as of December 31, 2023 and 2022. The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50 percent likely of being realized upon settlement. The Company classifies the liability for unrecognized tax benefits as current to the extent that the Company anticipates payment (or receipt) of cash within one year. Interest and penalties related to uncertain tax positions are recognized in the provision for income taxes. Patents and Patent Application Costs Although the Company believes that its patents and underlying technology have continuing value, the amount of future benefits to be derived from the patents is uncertain. Patent costs are therefore expensed as incurred and are included in General and Administrative expenses on the accompanying Statements of Operations. Patent expenses were $ 107 88 Segment Information The Company manages its operations as a single operating segment for the purposes of assessing performance and making operating decisions. The Company’s current focus is on developing oncolytic immunotherapies for the treatment of cancer. Research and Development Costs Research and development expenses are expensed as incurred. Research and development expenses consist of costs incurred to discover, research and develop drug candidates, including compensation-related expenses for research and development personnel, including stock-based compensation expense, preclinical and clinical activities, costs of manufacturing, overhead expenses including facilities and laboratory expenses, materials and supplies, amounts paid to consultants and outside service providers, and depreciation and amortization. Payments made pursuant to research and development contracts are initially recorded as advances on research and development contract services in the Company’s balance sheet and are then charged to research and development costs in the Company’s statement of operations as those contract services are performed. Expenses incurred under research and development contracts in excess of amounts advanced are recorded as research and development contract liabilities in the Company’s balance sheet, with a corresponding charge to research and development costs in the Company’s statement of operations. The Company reviews the status of its research and development contracts on a quarterly basis. Research Contract Costs and Accruals The Company has entered into various research and development-related contracts with companies both inside and outside of the United States. These agreements are generally cancellable, and related costs are recorded as research and development expenses as incurred. The Company records prepaid expenses and accruals for estimated ongoing research costs. When evaluating the adequacy of the prepaid expenses and accrued liabilities, the Company analyzes progress of the studies or clinical trials, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. The Company’s historical accrual estimates have not been materially different from the actual costs. Stock-Based Compensation The Company measures all stock options and other stock-based awards granted based on the fair value of the award on the date of the grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. The Company has elected to recognize forfeitures as they occur. The reversal of compensation cost previously recognized for an award that is forfeited because of a failure to satisfy a service or performance condition is recognized in the period of the forfeiture. Generally, the Company issues stock options with only service-based vesting conditions and records the expense for these awards using the straight-line method over the requisite service period. The Company classifies stock-based compensation expense in its statements of operations in the same manner in which the award recipient’s payroll costs are classified or in which the award recipients’ service payments are classified. The Company was a private company until the completion of its IPO on January 30, 2023. In 2022 and prior, the Company estimated the fair value of common stock using an appropriate valuation methodology, in accordance with the framework of the American Institute of Certified Public Accountants’ Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation. Each valuation methodology includes estimates and assumptions that require the Company’s judgment. These estimates and assumptions include a number of objective and subjective factors, including external market conditions, guideline public company information, the prices at which the Company sold its common stock to third parties in arms’ length transactions, the rights and preferences of securities senior to the Company’s common stock at the time, and the likelihood of achieving a liquidity event such as an initial public offering or sale. Significant changes to the assumptions used in the valuations could result in different fair values of stock options at each valuation date, as applicable. The fair value of each stock option grant is estimated using the Black-Scholes option-pricing model. The Company was a private company and lacked company-specific historical and implied volatility information. Therefore, it estimated its expected stock volatility based on the historical volatility of a publicly traded set of peer companies within the biotechnology industry with characteristics similar to the Company. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The expected term of stock options granted to non-employees is equal to the contractual term of the option award. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is zero, based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future. Comprehensive Loss Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with shareholders. For the year ended December 31, 2023, comprehensive loss included $ 12 Leases The Company accounts for its leases in accordance with the guidance of ASC 842, Leases Recent Accounting Pronouncements The Company’s management has evaluated all the recently issued, but not yet effective, accounting standards and guidance that have been issued or proposed by the FASB or other standards-setting bodies through the filing date of these financial statements and does not believe the future adoption of any such pronouncements will have a material effect on the Company’s financial position and results of operations.

FAIR VALUE OF FINANCIAL ASSETS

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	NOTE 3 - FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis: SCHEDULE OF FINANCIAL ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS Fair Value Measurements as of December 31, 2023, Using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ — $ 7,924 $ — $ 7,924 Short-term investments: US Government Agency bonds — 8,625 — 8,625 US Treasury bonds — 5,148 — 5,148 Total Cash equivalents and Short-term investments $ — $ 21,697 $ — $ 21,697 The underlying securities in the money market funds held by the Company are all government backed securities. During the year ended December 31, 2023, there were no transfers between levels. There were no cash equivalents or short-term investments as of December 31, 2022. Valuation of cash equivalents and short-term investments Money market funds, U.S. Government Agency bonds and U.S. Treasury bonds were valued by the Company using quoted prices in active markets for similar securities, which represent a Level 2 measurement within the fair value hierarchy. Cash equivalents consisted of money market funds at December 31, 2023.

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS	12 Months Ended
	Dec. 31, 2023
Investments, All Other Investments [Abstract]
SHORT-TERM INVESTMENTS	NOTE 4 - SHORT-TERM INVESTMENTS As of December 31, 2023, the Company’s available-for-sale investments by type, consisted of the following: SCHEDULE OF AVAILABLE FOR SALE INVESTMENTS Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Credit Losses Fair Value US Government agency bonds $ 8,617 $ 8 $ — $ — $ 8,625 US Treasury bonds 5,144 4 — — 5,148 Total $ 13,761 $ 12 $ — $ — $ 13,773 As of December 31, 2023, all available-for-sale securities consisted of investments that mature within one year.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 5 - PROPERTY AND EQUIPMENT Property and equipment consisted of the following at December 31, 2023 and 2022: SCHEDULE OF PROPERTY AND EQUIPMENT December 31, 2023 December 31, 2022 Furniture and office equipment $ 148 $ 148 Laboratory equipment 2,792 2,762 Computer equipment 127 127 Leasehold improvements 557 557 Construction-in-progress 995 — Property and equipment, gross 4,619 3,594 Less: accumulated depreciation and amortization (3,449 ) (2,950 ) Property and equipment, net $ 1,170 $ 644 Depreciation expense for each of the years ended December 31, 2023 and 2022 was $ 499 and $ 553 , respectively.

ACCRUED PAYROLL AND PAYROLL TAX

ACCRUED PAYROLL AND PAYROLL TAXES	12 Months Ended
	Dec. 31, 2023
Accrued Payroll And Payroll Taxes
ACCRUED PAYROLL AND PAYROLL TAXES	NOTE 6 – ACCRUED PAYROLL AND PAYROLL TAXES As of December 31, 2022, the Company had accrued compensation owed to the Company’s Chief Executive Officer, another employee and two former employees that had accrued over a several year period in the amount of $ 2,852 1,187 2,037 1,716 321 2,117

LEASE LIABILITIES

LEASE LIABILITIES	12 Months Ended
	Dec. 31, 2023
Lease Liabilities
LEASE LIABILITIES	NOTE 7 – LEASE LIABILITIES Operating Leases The Company accounts for leases in accordance with ASC 842, which requires a lessee to record a right-of-use asset and a corresponding lease liability at the inception of the lease initially measured at the present value of the lease payments. In July 2018, the Company entered into a long-term non-cancellable lease agreement for its manufacturing facility that requires aggregate average monthly payments of $ 10 option to extend for an additional five years 518 519 4.00 the option to extend the lease for an additional five years 174 860 4.00 686 extended the lease for an additional two-year period, through October 2030, with no changes to any of the other terms of the lease and has the option to extend the lease for an additional five years. Prior to the extension, the remaining lease liability amounted to $701 909 7.00 208 In December 2020, the Company entered into a long-term non-cancellable lease agreement for a laboratory facility that requires aggregate average monthly payments of $ 18 439 4.00 extended the lease term through December 2024, with no changes to any of the other terms of the lease The average monthly rent payment on the extended lease is approximately $ 30 12 649 5.5 637 In July 2021, the Company entered into a long-term non-cancellable lease agreement for its new corporate headquarters that requires aggregate average monthly payments of $ 10 656 4.00 In November 2023, the Company entered into a long-term non-cancellable lease agreement for a second manufacturing facility that requires aggregate average monthly payments of $ 12 extend for an additional five years 803 7.00 During the years ended December 31, 2023 and 2022, the Company made combined aggregate payments of $ 523 389 2,519 1,430 ASC 842 requires recognition in the statement of operations of a single lease cost, calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. During the years ended December 31, 2023 and 2022, the Company reflected combined amortization of the right of use assets of $ 519 and $ 415 , respectively, related to the leases, resulting in a combined net asset balance of $ 2,428 and $ 1,335 as of December 31, 2023 and 2022, respectively. The maturities of the Company’s lease liabilities are as follows as of December 31, 2023: SCHEDULE OF MATURITIES LEASE LIABILITIES Years ending 2024 $ 653 2025 330 2026 362 2027 331 2028 275 Thereafter 568 Total lease liabilities 2,519 Less: current portion (653 ) Long-term portion $ 1,866 Other Leases In November 2019, the Company entered into a short-term lease agreement for one of its office facilities, which was subsequently extended until December 2022 and is currently on a month-to-month basis. Rent expense was $ 36

NOTES PAYABLE _ SHAREHOLDERS

NOTES PAYABLE – SHAREHOLDERS	12 Months Ended
	Dec. 31, 2023
Notes Payable Shareholders
NOTES PAYABLE – SHAREHOLDERS	NOTE 8 – NOTES PAYABLE – SHAREHOLDERS During the year ended December 31, 2022, the Company, in anticipation of closing its IPO, entered into note payable agreements with several shareholders totaling $ 1,100 12 1,100 5 During the year ended December 31, 2023, the Company extended the due date on the notes until April 30, 2023. During the year ended December 31, 2023, the Company borrowed an additional $ 900 600 11 1,400 63 73,134 1,865 69 402 In consideration for the notes issued in 2022, the Company issued the note holders stock warrants to purchase up to an aggregate total of 44,441 169 SCHEDULE OF WARRANTS Exercise price $ 6.00 Expected dividends — Expected volatility 96.0 % Risk free interest rate 3.50 % Life of the warrants 3.0 The Company recognized a liability and recorded a debt discount at the date of issuance in 2022 in the amount of $ 169 61 108 108 The following table sets forth a summary of the changes in the estimated fair value of the warrant liabilities during the years ended December 31, 2023 and 2022: SCHEDULE OF CHANGES IN ESTIMATED FAIR VALUE OF WARRANT LIABILITIES Years Ended December 31, 2023 2022 Beginning balance $ 169 $ - Recognition of warrant liabilities - 169 Change in fair value - - Extinguishment (169 ) - Ending balance $ - $ 169

CONVERTIBLE NOTES PAYABLE _ SHA

CONVERTIBLE NOTES PAYABLE – SHAREHOLDERS	12 Months Ended
	Dec. 31, 2023
Convertible Notes Payable Shareholders
CONVERTIBLE NOTES PAYABLE – SHAREHOLDERS	NOTE 9 – CONVERTIBLE NOTES PAYABLE – SHAREHOLDERS Convertible notes payable to shareholders consisted of the following as of December 31, 2023 and 2022: SCHEDULE OF CONVERTIBLE NOTES PAYABLE TO SHAREHOLDERS December 31, 2023 December 31, 2022 Convertible notes payable - shareholders (a) (a) $ — $ 7,838 Convertible note payable - shareholder (b) (b) — 1,500 Convertible notes payable – shareholders (c) (c) — 700 Convertible notes payable - shareholders (d) (d) — 5,369 Convertible notes payable - shareholders — 15,407 Less: current portion — (15,407 ) Convertible notes payable – shareholders – long - term portion $ — $ — (a) During the years ended December 31, 2011 through 2016, the Company entered into convertible note payable agreements with individuals aggregating to a total amount of $ 7,988 8 25.73 As of December 31, 2022, the principal amount due on the notes aggregated to $ 7,838 2,890 60 36 15 7,778 2,867 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest, except for $ 65 58 1,554,814 6.78 During the year ended December 31, 2023, the Company repaid $ 25 20 40 38 2,094 (b) In April 2016, the Company entered into a convertible note payable agreement with a shareholder in the amount of $ 2,661 11.51 6.78 10 6.78 As of December 31, 2022, total principal of $ 1,500 560 10 1,500 570 Upon the closing of the IPO, all of the principal plus accrued and unpaid loan fees automatically converted into 303,835 6.78 (c) In April 2018, the Company entered into two convertible note payable agreements with a shareholder under which the Company borrowed an aggregate total of $ 700 5.0 12.00 90 As of December 31, 2022, total principal of $ 700 164 3 700 167 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest automatically converted into 160,563 5.40 90 (d) During the years ended December 31, 2019 through 2021, the Company entered into convertible note payable agreements with several shareholders under which the Company borrowed an aggregate amount of $ 5,369 5.0 12.00 90 As of December 31, 2022, total principal of $ 5,369 758 22 5,369 780 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest automatically converted into 1,134,063 5.40 90 217,771 9.00 10.50

CONVERTIBLE NOTES PAYABLE

CONVERTIBLE NOTES PAYABLE	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
CONVERTIBLE NOTES PAYABLE	NOTE 10 – CONVERTIBLE NOTES PAYABLE Convertible notes payable consisted of the following as of December 31, 2023 and 2022: SCHEDULE OF CONVERTIBLE NOTES PAYABLE December 31, 2023 December 31, 2022 Convertible note payable $ - $ 9,065 Less: debt discount - (541 ) Convertible notes payable, net $ - $ 8,524 During the years ended December 31, 2020 and 2021, the Company entered into convertible note payable agreements with an investing group under which the Company borrowed an aggregate amount of $ 9,065 6.0 10.50 146,641 10.50 70,265 As of December 31, 2022, the Company owed $ 9,065 1,178 45 9,065 1,223 The Company calculated the relative fair value of the warrants issued to the noteholder and recognized a debt discount at the date of issuance. The note discount is being amortized over the term of the note and the unamortized portion is recognized as a reduction to the carrying amount of the note (a valuation debt discount). As of December 31, 2022, the notes had an unamortized debt discount balance of $ 541 541 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest automatically converted into 979,619 10.50

U.S. SMALL BUSINESS ADMINISTRAT

U.S. SMALL BUSINESS ADMINISTRATION LOAN UNDER THE CARES ACT	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
U.S. SMALL BUSINESS ADMINISTRATION LOAN UNDER THE CARES ACT	NOTE 11 – U.S. SMALL BUSINESS ADMINISTRATION LOAN UNDER THE CARES ACT During the year ended December 31, 2020, the Company entered into a loan agreement with the United States Small Business Administration (“SBA”) under which the Company borrowed $ 314 1.0 No

LICENSE AGREEMENTS

LICENSE AGREEMENTS	12 Months Ended
	Dec. 31, 2023
License Agreements
LICENSE AGREEMENTS	NOTE 12 – LICENSE AGREEMENTS Agreement with Newsoara BioPharma Co. Ltd In September 2021, the Company entered into a collaboration and exclusive license with Newsoara BioPharma Co. Ltd (“Newsoara”) for the development and commercialization of the Company’s primary product (Olvi-Vec). According to the terms of the agreement, Newsoara shall have exclusive rights in Greater China to Olvi-Vec. The Company and Newsoara are co-sponsors of a Phase 1/2 clinical trial in China of Olvi-Vec in patients with recurrent SCLC, of which Newsoara currently is conducting the Phase 1 portion of the trial. Newsoara also shall have exclusive rights in Greater China to the Company’s proprietary oncolytic virus platform (with the exception of V-VET1, described below), and the parties will collaborate on the development of novel oncolytic immune therapeutics. Newsoara, at its cost and expense, will be responsible for development and commercialization and will have the future right to manufacture licensed products in Greater China. Under terms of the agreement, the Company has received up-front and near-term payments totaling $ 9,900 10 160.5 4,500 10 5,400 10 The allocation of the transaction price to the Company’s primary performance obligations in the agreement includes payments related to each of the following obligations (or events): 1) Signing of the agreement and transfer of rights to its technology - $ 5.0 2) Approval from the U.S. Food and Drug Administration to begin the phase 3 trial of the Company’s primary product - $ 6.0 10 3) Manufacture and distribute product, or the transfer of its manufacturing technology – the manufactured cost of the product as determined by the Company and approved by the customer upon completion of a production batch. At December 31,2021, the Company performed an analysis of revenue recognition in accordance with guidance of ASC 606 and determined that since the Company did not complete obligation 3) above prior to December 31, 2021, that revenue would be recognized at such time as the Company met that performance obligation. As such, as of December 31, 2021, the Company delayed recognition of any revenue under this contract and the cash received of $ 4,500 11,000 10 1,100 9,900 Agreement with ELIAS Animal Health, LLC In November 2021, the Company entered into an exclusive worldwide licensing agreement for V-VET1, its clinical stage animal health product candidate, with ELIAS Animal Health, LLC (ELIAS), a biotechnology company advancing its novel cell-based immunotherapies for the treatment of cancer in veterinary medicine. V-VET1 is a vaccinia viral strain which selectively replicates in cancer cells causing cell death (apoptosis). ELIAS plans future clinical trials to evaluate and develop V-VET1 as a potential new immunotherapy option for veterinary oncologists. Under the terms of the agreement, Genelux will receive an upfront payment of $ 60 The allocation of the transaction price to the Company’s primary performance obligations in the agreement includes payments related to each of the following obligations (or events): 1) Signing of the agreement and transfer of rights to its technology - $ 60 2) Manufacture and distribute product, or the transfer of its manufacturing technology – the manufactured cost of the product as determined by the Company and approved by the customer upon completion of a production batch. The Company performed an analysis of revenue recognition in accordance with guidance of ASC 606 and determined that since the Company did not complete obligation 2) above prior to December 31, 2021, that revenue recognition would be recognized at such time as the Company met that performance obligation. During the year ended December 31, 2022, the Company received payments of $ 60 8 68 60

SHAREHOLDERS_ EQUITY

SHAREHOLDERS’ EQUITY	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
SHAREHOLDERS’ EQUITY	NOTE 13 - SHAREHOLDERS’ EQUITY Preferred Stock As of December 31, 2022, authorized shares and shares issued and outstanding of the Company’s preferred stock by series were as follows: SCHEDULE OF PREFERRED STOCK Authorized Shares Issued and Outstanding Par Value Series A Preferred Stock 4,500,000 4,500,000 4,500 Series B Preferred Stock 608,000 608,000 608 Series C Preferred Stock 5,000,000 5,000,000 5,000 Series D Preferred Stock 3,000,000 3,000,000 3,000 Series E Preferred Stock 1,591,994 1,591,994 1,592 Series F Preferred Stock 953,000 953,000 953 Series H Preferred Stock 5,000,000 536,000 536 Series I Preferred Stock 2,775,000 2,757,442 2,757 Series J Preferred Stock 2,500,000 1,281,600 1,282 Series K Preferred Stock 4,000,000 1,866,853 1,867 Total 29,927,994 22,094,889 22,095 Upon the closing of the Company’s IPO on January 30, 2023, all of the Company’s 22,094,889 8,359,143 994,705 As of January 30, 2023, earned but undeclared and unpaid Series H dividends were $ 3,443 272,101 In January 2023, the Company’s Certificate of Incorporation with the state of Delaware was amended to change the number of authorized preferred shares from 29,927,994 10,000,000 Common Stock Authorized shares The Company’s Certificate of Incorporation authorizes the Company to issue up to 200,000,000 26,788,986 9,126,726 In January 2023, the Company’s Certificate of Incorporation with the state of Delaware was amended to change the number of authorized common shares from 75,000,000 200,000,000 Common Stock Issued for Cash Upon Closing of the Company’s IPO On January 30, 2023, the Company completed its underwritten IPO of its common stock, in which the Company issued and sold 2,500,000 6.00 153,000 6.00 15,918 12,632 Common Stock Issued for Cash Upon Closing of the Company’s Private Placements On May 12, 2023, the Company entered into a securities purchase agreement (the “PIPE 1 SPA”) with certain investors (the “PIPE 1 Purchasers”), pursuant to which the Company agreed to sell and issue 1,665,213 20.00 33,300 1,463 17,500 6,000 17,500 1,017,079 20,342 19,842 On June 9, 2023, the Company entered into another securities purchase agreement (the “PIPE 2 SPA”, and, together with the PIPE 1 SPA, the “Purchase Agreements”) with certain investors (the “PIPE 2 Purchasers”), pursuant to which the Company agreed to sell and issue 900,000 20.00 18,000 12,500 275,000 5,500 5,300 As of December 31, 2023, the Company sold 1,292,079 25,842 25,142 6,000 30,000 In November 2023, the Company agreed to extend the funding deadline for $ 2,000 22,000 Grant of Restricted Stock Units The following table summarizes restricted common stock activity during the year ended December 31, 2023: SCHEDULE OF RESTRICTED COMMON STOCK ACTIVITY Number of Restricted Shares Fair Value Weighted Average Grant Date Fair Value Non-vested, December 31, 2022 - $ - $ - Granted 171,400 2,043 11.92 Vested (113,500) (940 ) 6.57 Forfeited - - - Non-vested, December 31, 2023 57,900 $ 1,103 $ 22.40 In February 2023, the Company’s Board of Directors approved the issuance of a combined total of 113,500 746 In September 2023, the Company’s Board of Directors approved the issuance of a combined total of 57,900 1,297 During the year ended December 31, 2023, the Company recorded $ 940 1,103 Stock Options In August 2009, the Company’s Board of Directors approved the adoption of the 2009 Equity Incentive Plan (“the 2009 Plan”). The 2009 Plan was initiated to encourage and enable employees, directors and consultants of the Company to acquire and retain a proprietary interest in the Company by ownership of its common stock. A total of 6,166,666 In September 2018, the Company’s Board of Directors approved the adoption of the 2019 Equity Incentive Plan (“the 2019 Plan”). The 2019 Plan was initiated to encourage and enable employees, directors and consultants of the Company to acquire and retain a proprietary interest in the Company by ownership of its common stock. The 2019 Plan allows for the following types of awards: (i) Incentive Stock Options; (ii) Nonstatutory Stock Options; (iii) Stock Appreciation Rights; (iv) Restricted Stock Awards; (v) Restricted Stock Unit Awards; (vi) Other Stock Awards. The maximum number of shares of our common stock that may be issued under our 2019 Plan is 2,059,073 3,774,260 5,833,333 1,632,314 In June 2022, the Company’s Board of Directors approved the adoption of the 2022 Equity Incentive Plan (“the 2022 Plan”). The 2022 Plan provides for the grant of incentive stock options (“ISOs”), to employees, including employees of any parent or subsidiary, and for the grant of nonstatutory stock options (“NSOs”), stock appreciation rights, restricted stock awards, RSU awards, performance awards and other forms of stock awards to employees, directors, and consultants, including employees and consultants of our affiliates. The 2022 Plan is a successor to the 2019 Plan. No further grants will be made under the 2019 Plan. The maximum number of shares of the Company’s common stock under the 2022 Plan that may be issued is 2,800,000 5 706,388 12,645 171,400 1,922,212 1,339,449 3,261,661 In September 2023, the Company’s Board of Directors approved the adoption of the Company’s 2023 Inducement Plan (the “Inducement Plan”) to reserve 1,000,000 444,300 8,031 555,700 Option exercise prices are set forth in the Grant Notice, without commission or other charge, provided however, that the price per share of the shares subject to the option shall not be less than the greater of (i) 100% of the fair market value of a share of stock on the grant date, or (ii) 110% of the fair market value of a share of stock on the grant date in the case of a Participant then owning more than 10% of the total combined voting power of all classes of stock of the Company or any “subsidiary corporation” of the Company or any “parent corporation” of the Company The Company’s policy is to recognize compensation cost for awards with only service conditions on a straight- line basis over the requisite service period for the entire award. Additionally, the Company’s policy is to issue new shares of common stock to satisfy stock option exercises. The Company applied fair value accounting for all share-based payments awards. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model. Stock Option Grants during the Year Ended December 31, 2023 During the year ended December 31, 2023, under its 2022 Plan and Inducement Plan, the Company’s Board of Directors approved the granting of options to certain employees and directors to purchase 1,150,688 13.97 22.40 vest over various periods, but none longer than four years, expire ten years from the date of grant 20,676 2,515 The assumptions used for the options granted during the year ended December 31, 2023 are as follows: SCHEDULE OF OPTION GRANTED Exercise prices $ 13.97 22.40 Expected dividends — Expected volatility 100.0 % Risk free interest rate 3.9 4.4 % Expected life of options 5.5 6.6 Stock Option Grants during the Year Ended December 31, 2022 During the year ended December 31, 2022, under its 2019 Incentive Plan, the Company granted options to certain employees and directors, and a consultant, to purchase 247,785 9.00 10.50 vest over various periods, but none longer than four years, expire ten years from the date of grant 1,969 2,415 The assumptions used for all of the options granted during the year ended December 31, 2022 are as follows: Exercise prices $ 9.00 10.50 Expected dividends — Expected volatility 94.6 96.1 % Risk free interest rate 0.34 % Expected life of options 5.0 5.9 The table below summarizes the Company’s stock option activities for the years ended December 31, 2023 and 2022: SCHEDULE OF STOCK OPTION ACTIVITY Number of Option Shares Exercise Price Range Per Share Weighted Average Exercise Price Balance, December 31, 2021 3,953,234 $ 9.00 10.50 $ 10.11 Granted 247,785 9.00 10.50 10.40 Cancelled — — — Exercised — — — Expired — — — Balance, December 31, 2022 4,201,019 9.00 10.50 10.12 Granted 1,150,688 13.97 22.40 22.26 Cancelled — — — Exercised (232,787 ) 6.00 10.50 6.34 Expired (51,581 ) 6.00 6.00 Balance, December 31, 2023 5,067,339 $ 6.00 22.40 $ 9.76 Vested and exercisable, December 31, 2023 3,780,455 $ 6.00 10.50 $ 6.09 Unvested, December 31, 2023 1,286,884 $ 6.00 22.40 $ 20.66 The following table summarizes information concerning outstanding and exercisable options as of December 31, 2023: SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Average Remaining Contractual Life (in years) Weighted Average Exercise Price $ 6.00 3,826,552 4.55 $ 6.00 3,689,352 4.43 $ 6.00 6.01 10.50 90,099 2.03 9.52 90,099 2.03 9.52 10.51 22.40 1,150,688 9.70 22.26 704 9.69 22.40 $ 6.00 22.40 5,067,339 5.68 $ 9.76 3,780,455 4.37 $ 6.09 Stock Option Repricing In September 2022, the Company’s Board of Directors approved a stock option repricing whereby the exercise prices of previously granted and unexercised options held by certain employees, directors and key advisers with exercise prices between $ 9.00 10.50 4,092,887 9.00 10.50 6.00 2,796,400 2,733 2,689 Stock Option Exercises During the year ended December 31, 2023, a total of 232,787 1,474 As of December 31, 2023, unvested compensation of $ 19,825 22.26 7.68 31,056 At the time of the issuances of stock options, the Company believed the Company’s estimates of the fair value for financial reporting purposes of the Company’s common stock were reasonable and consistent with the Company’s understanding of how similarly situated companies in the industry were valued. The following table summarizes the stock-based compensation expense, for stock options only, by line item in the statements of operations for the years ended December 31, 2023 and 2022, respectively. SUMMARY OF STOCK BASED COMPENSATION EXPENSE December 31, 2023 December 31, 2022 Research and development $ 915 $ 368 General and administrative 1,600 2,047 Total stock-based compensation expense $ 2,515 $ 2,415 Stock Warrants The table below summarizes the Company’s warrants activities for the years ended December 31, 2023 and 2022: SCHEDULE OF WARRANTS ACTIVITY Number of Warrant Shares Exercise Price Range Per Share Weighted Average Exercise Price Balance, December 31, 2021 823,123 $ 0.03 10.50 $ 7.56 Granted — — — Cancelled — — — Exercised (16,666 ) 0.03 9.00 7.21 Expired (81,283 ) 0.03 10.50 1.56 Balance, December 31, 2022 725,174 3.00 10.50 8.24 Granted 447,906 5.40 10.50 7.87 Cancelled (36 ) 9.00 9.00 Exercised (655,523 ) 6.00 10.50 8.81 Expired (4,762 ) 10.50 10.50 Balance, December 31, 2023 512,759 $ 3.00 10.50 $ 7.14 Vested and exercisable, December 31, 2023 512,759 $ 3.00 10.50 $ 7.14 The following table summarizes information concerning outstanding and exercisable warrants as of December 31, 2023: SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS Warrants Outstanding Warrants Exercisable Range of Exercise Prices Number Outstanding Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Average Remaining Contractual Life (in years) Weighted Average Exercise Price $ 3.00 133,333 3.17 $ 3.00 133,333 3.17 $ 3.00 3.01 10.49 375,617 2.24 8.57 375,617 2.24 8.57 10.50 3,809 0.31 10.50 3,809 0.31 10.50 $ 3.00 10.50 512,759 2.46 $ 7.14 512,759 2.46 $ 7.14 Upon the closing of the IPO and the overallotment exercises, the Company agreed to issue the underwriters warrants entitling them to purchase up to 185,694 6.00 185,694 6.00 140,303 no During the year ended December 31, 2023, the Company granted warrants to certain of its lenders to purchase up to 44,441 5.40 During the year ended December 31, 2023, the Company granted warrants to certain of its lenders to purchase up to 217,771 9.00 10.50 3,152 217,771 2,175 During the year ended December 31, 2023, a warrant holder completed a cashless exercise of their warrants to purchase 146,641 10.50 70,265 During the year ended December 31, 2023, a warrant holder completed a cashless exercise of a warrant to purchase 16,666 9.00 11,666 88,751 814 During the year ended December 31, 2023, a total of 126,767 The aggregate intrinsic value for warrant shares outstanding at December 31, 2022 was $ 3,141

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 14 - INCOME TAXES Significant components of the provision for income taxes for the years ended December 31, 2023 and 2022 are as follows: PROVISION FOR INCOME TAXES December 31, 2023 December 31, 2022 Current Federal $ (6,014 ) $ 258 State (2,547 ) 93 Foreign — 1,100 Total (8,561 ) 1,451 Deferred Federal 4,876 3,448 State 2,227 538 Total 7,103 3,986 Total income tax expense before change in valuation allowance (1,458 ) 5,437 Change in valuation allowance 1,458 (4,337 ) Total income tax expense $ — $ 1,100 The reconciliation of income tax attributable to income before provision for income taxes at the U.S. federal statutory tax rate to income tax expense for the years ended December 31, 2023 and 2022 is as follows: INCOME TAX RECONCILIATION BASED ON FEDERAL STATUTORY RATE December 31, 2023 December 31, 2022 Statutory federal income tax rate of 21% applied to loss before income taxes $ (5,942 ) $ (1,093 ) State income tax rate of 7%, net of federal benefit (2,017 ) (364 ) Foreign income taxes — 1,100 Convertible note interest — 12 Other temporary differences (83 ) 1,339 Change in valuation allowance 8,042 106 Total income tax expense $ — $ 1,100 Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022 were as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES December 31, December 31, Deferred tax assets Stock-based compensation $ 10,900 $ 9,181 Accruals 1,690 4,388 Fixed assets 67 67 Net operating losses 45,593 34,921 Tax credits 4,549 4,549 Total deferred tax assets 62,799 53,106 Deferred tax liabilities State taxes (3,686 ) (2,623 ) Prepaid expenses (234 ) (446 ) Fixed assets — 75 Total deferred tax liabilities (3,920 ) (2,994 ) Net deferred tax assets before valuation allowance 58,879 50,112 Valuation allowance (58,879 ) (50,112 ) Net deferred tax assets $ — $ — Deferred income tax assets and liabilities are recorded for differences between the financial statement and tax basis of the assets and liabilities that will result in taxable or deductible amounts in the future based on enacted laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company has evaluated the available evidence supporting the realization of its gross deferred tax assets, including the amount and timing of future taxable income, and has determined it is more likely than not that the assets will not be realized. Due to uncertainties surrounding the realizability of the deferred tax assets, the Company has recorded a full valuation allowance against its deferred tax assets at December 31, 2023 and 2022. At December 31, 2023 and 2022, the Company had federal income tax net operating loss carryforwards of approximately $ 160,000 132,000 134,000 106,000 22,330 2,579 1,970 The Company has adopted the provisions in ASC 740 relating to the accounting for uncertain tax positions. This provision requires that the Company recognize the impact of a tax position in its financial statements if the position is more likely than not to be sustained upon examination and on the technical merits of the position. The Company’s also has a policy to recognize interest and/or penalties on the income tax expense related to uncertain tax positions. The Company had no material uncertain tax positions as of December 31, 2023 and 2022, respectively, and consequently, no interest or penalties have been accrued by the Company. The Company is subject to taxation in the United States and state jurisdictions. The Company’s tax years for 2010 and forward are subject to examination by the United States and California tax authorities due to the carry forward of unutilized net operating losses.

LEGAL MATTERS

LEGAL MATTERS	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
LEGAL MATTERS	NOTE 15 - LEGAL MATTERS As of December 31, 2023, we were the defendant in one pending litigation. On November 6, 2023, the Los Angeles County Superior Court granted the Company’s motion for summary judgment and issued an order and final judgment dismissing all claims against the Company with prejudice. Although the plaintiff filed a notice of appeal of the dismissal order with the California Court of Appeal, the plaintiff subsequently filed a request for dismissal of his appeal, which was dismissed by the appellate court on February 23, 2024. Accordingly, the order and final judgment dismissing all claims against the Company with prejudice is now final. In the future, the Company may be involved in additional actual and/or threatened legal proceedings, claims, investigations and government inquiries arising in the ordinary course of our business, including legal proceedings, claims, investigations and government inquiries involving intellectual property, data privacy and security, other torts, illegal or objectionable content, consumer protection, securities, employment, contractual rights, civil rights infringement, false or misleading advertising, or other legal claims relating to our business.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 16 - SUBSEQUENT EVENTS Subsequent to December 31, 2023, several warrant holders exercised their warrants to purchase 76,487 9.00 688 Subsequent to December 31, 2023, the Company extended the warrant expiration date on the warrants for two warrant holders. Their warrants were set to expire on December 31, 2023, but were extended to March 31, 2024 3,809 10.50

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the financial statement date and reported amounts of revenue and expenses during the reporting period. Significant estimates are used in the valuation of accruals for potential liabilities, valuations of stock-based compensation, and realization of deferred tax assets, among others. Actual results could differ from these estimates.
Income (Loss) Per Share	Income (Loss) Per Share Basic loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of outstanding common shares during the period. Diluted loss per share is computed by dividing the net loss applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. For the years ended December 31, 2023 and 2022, the basic and diluted shares outstanding were the same, as potentially dilutive shares were considered anti-dilutive. The potentially dilutive securities consisted of the following: SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES December 31, December 31, Convertible notes payable - 3,394,569 Common stock equivalent of Series A through K convertible preferred stock - 7,567,630 Stock options 5,067,339 4,201,019 Stock warrants 512,759 725,174 Restricted stock units 57,900 - Stock warrants, issuable upon conversion of notes payable - 183,852 Total 5,637,998 16,072,244
Revenue Recognition	Revenue Recognition The Company records revenue under the guidance of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (Topic 606) The Company determines revenue recognition through the following steps: ● Identification of the contract, or contracts, with a customer; ● Identification of the performance obligations in the contract; ● Determination of the transaction price; ● Allocation of the transaction price to the performance obligations in the contract; and ● Recognition of revenue when, or as, we satisfy a performance obligation. Under certain of the Company’s licensing, supply and collaboration agreements, it is entitled to receive payment upon the achievement of contingent milestone events or the performance of obligations. The Company recognizes revenue based on guidance in ASC 606. In evaluating revenue recognition under a license agreement, the Company uses a two-step process for determining whether a promised good or service (including a license of intellectual property) is distinct and, therefore, is a performance obligation: (1) consideration of the individual good or service (i.e., whether the good or service is capable of being distinct); and (2) consideration of whether the good or service is separately identifiable from other promises in the contract (i.e., whether the promise to transfer the good or service is distinct in the context of the contract). Amounts received prior to satisfying the revenue recognition criteria are recorded as deferred revenue on the Company’s balance sheet. Amounts expected to be recognized as revenue in the next 12 months following the balance sheet date are classified as current liabilities. During the year ended December 31, 2022, the Company, under the Newsoara License Agreement (see Note 12), invoiced and collected $ 170
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentration of credit risk, consist primarily of cash deposits. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company has not experienced any losses on deposits since inception.
Cash Equivalents	Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less at date of purchase to be cash equivalents. Cash equivalents consisted of money market funds as of December 31, 2023. There were no 7,924
Short-Term Investments	Short-Term Investments The Company’s short-term debt security investments are classified as available-for-sale and are carried at fair value, with the unrealized gains and non-credit related losses reported as a component of accumulated other comprehensive loss and included in stockholders’ equity. Realized gains and losses and declines in value determined to be other than temporary are based on the specific identification method and are included as a component of total other income (expense), net in the Statements of Operations. There were no realized gains or losses during the year ended December 31, 2023. For available-for-sale securities in an unrealized loss position, we first assess whether we intend to sell, or if it is more likely than not that we will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through a charge to interest income. For available-for-sale securities that do not meet the aforementioned criteria, we evaluate whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Company considers such factors as, among other things, the severity of the impairment, any changes in interest rates, how long the market value of the investment has been less than its original cost, the Company’s ability and intent to retain the short-term debt security investment for a period of time sufficient to allow for any anticipated recovery in fair value and market conditions in general. The credit-related portion of unrealized losses, and any subsequent improvements, are recorded in interest income through an allowance account. Any impairment that has not been recorded through an allowance for credit losses is included in other comprehensive loss on the statements of operations and comprehensive loss. No credit-related losses or impairments have been recognized on the Company’s investments in available-for-sale securities during the year ended December 31, 2023. All of the Company’s short-term investments as of December 31, 2023 had maturities of less than one year.
Deferred Offering Costs	Deferred Offering Costs The Company capitalizes certain legal, professional, accounting and other third-party fees that are directly associated with in-process equity issuances as deferred offering costs until such equity issuances are consummated. After consummation of the equity issuance, these costs are recorded as a reduction in the capitalized amount associated with the equity issuance. Should the equity issuance be delayed or abandoned, the deferred offering costs will be expensed immediately as a charge to operating expenses in the Statement of Operations. As of December 31, 2022, the Company incurred $ 1,568 303 1,871
Property and Equipment	Property and Equipment Property and equipment are recorded at cost, less accumulated depreciation and amortization. Property and equipment is depreciated over the estimated useful life of the asset or the term of the lease using the straight-line method, whichever is shorter. Maintenance and repairs are charged to expense as incurred. At the time depreciable property is retired or otherwise disposed of, the related cost and accumulated depreciation or amortization are removed from the accounts and any resulting gain or loss is reflected in operations. The Company has determined the estimated useful lives of its property and equipment, as follows: SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIFE Furniture and office equipment 5 Laboratory equipment 5 Computer equipment 3 Leasehold improvements Life of lease Management assesses the carrying value of property and equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company determines the fair value of its assets and liabilities based on the exchange price in U.S. dollars that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a fair value hierarchy with three levels of inputs, of which the first two are considered observable and the last unobservable, to measure fair value: ● Level 1 — ● Level 2 — ● Level 3 — The Company’s short-term investments and cash equivalents are carried at fair value, determined according to the fair value hierarchy described in Note 3 below. The carrying amount of the Company’s warrant liabilities of $ 169
Income Taxes	Income Taxes Income tax expense is based on pretax financial accounting income. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized. The Company recorded a valuation allowance against its deferred tax assets as of December 31, 2023 and 2022. The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50 percent likely of being realized upon settlement. The Company classifies the liability for unrecognized tax benefits as current to the extent that the Company anticipates payment (or receipt) of cash within one year. Interest and penalties related to uncertain tax positions are recognized in the provision for income taxes.
Patents and Patent Application Costs	Patents and Patent Application Costs Although the Company believes that its patents and underlying technology have continuing value, the amount of future benefits to be derived from the patents is uncertain. Patent costs are therefore expensed as incurred and are included in General and Administrative expenses on the accompanying Statements of Operations. Patent expenses were $ 107 88
Segment Information	Segment Information The Company manages its operations as a single operating segment for the purposes of assessing performance and making operating decisions. The Company’s current focus is on developing oncolytic immunotherapies for the treatment of cancer.
Research and Development Costs	Research and Development Costs Research and development expenses are expensed as incurred. Research and development expenses consist of costs incurred to discover, research and develop drug candidates, including compensation-related expenses for research and development personnel, including stock-based compensation expense, preclinical and clinical activities, costs of manufacturing, overhead expenses including facilities and laboratory expenses, materials and supplies, amounts paid to consultants and outside service providers, and depreciation and amortization. Payments made pursuant to research and development contracts are initially recorded as advances on research and development contract services in the Company’s balance sheet and are then charged to research and development costs in the Company’s statement of operations as those contract services are performed. Expenses incurred under research and development contracts in excess of amounts advanced are recorded as research and development contract liabilities in the Company’s balance sheet, with a corresponding charge to research and development costs in the Company’s statement of operations. The Company reviews the status of its research and development contracts on a quarterly basis.
Research Contract Costs and Accruals	Research Contract Costs and Accruals The Company has entered into various research and development-related contracts with companies both inside and outside of the United States. These agreements are generally cancellable, and related costs are recorded as research and development expenses as incurred. The Company records prepaid expenses and accruals for estimated ongoing research costs. When evaluating the adequacy of the prepaid expenses and accrued liabilities, the Company analyzes progress of the studies or clinical trials, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. The Company’s historical accrual estimates have not been materially different from the actual costs.
Stock-Based Compensation	Stock-Based Compensation The Company measures all stock options and other stock-based awards granted based on the fair value of the award on the date of the grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. The Company has elected to recognize forfeitures as they occur. The reversal of compensation cost previously recognized for an award that is forfeited because of a failure to satisfy a service or performance condition is recognized in the period of the forfeiture. Generally, the Company issues stock options with only service-based vesting conditions and records the expense for these awards using the straight-line method over the requisite service period. The Company classifies stock-based compensation expense in its statements of operations in the same manner in which the award recipient’s payroll costs are classified or in which the award recipients’ service payments are classified. The Company was a private company until the completion of its IPO on January 30, 2023. In 2022 and prior, the Company estimated the fair value of common stock using an appropriate valuation methodology, in accordance with the framework of the American Institute of Certified Public Accountants’ Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation. Each valuation methodology includes estimates and assumptions that require the Company’s judgment. These estimates and assumptions include a number of objective and subjective factors, including external market conditions, guideline public company information, the prices at which the Company sold its common stock to third parties in arms’ length transactions, the rights and preferences of securities senior to the Company’s common stock at the time, and the likelihood of achieving a liquidity event such as an initial public offering or sale. Significant changes to the assumptions used in the valuations could result in different fair values of stock options at each valuation date, as applicable. The fair value of each stock option grant is estimated using the Black-Scholes option-pricing model. The Company was a private company and lacked company-specific historical and implied volatility information. Therefore, it estimated its expected stock volatility based on the historical volatility of a publicly traded set of peer companies within the biotechnology industry with characteristics similar to the Company. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The expected term of stock options granted to non-employees is equal to the contractual term of the option award. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is zero, based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future.
Comprehensive Loss	Comprehensive Loss Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with shareholders. For the year ended December 31, 2023, comprehensive loss included $ 12
Leases	Leases The Company accounts for its leases in accordance with the guidance of ASC 842, Leases
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company’s management has evaluated all the recently issued, but not yet effective, accounting standards and guidance that have been issued or proposed by the FASB or other standards-setting bodies through the filing date of these financial statements and does not believe the future adoption of any such pronouncements will have a material effect on the Company’s financial position and results of operations.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES	SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES December 31, December 31, Convertible notes payable - 3,394,569 Common stock equivalent of Series A through K convertible preferred stock - 7,567,630 Stock options 5,067,339 4,201,019 Stock warrants 512,759 725,174 Restricted stock units 57,900 - Stock warrants, issuable upon conversion of notes payable - 183,852 Total 5,637,998 16,072,244
SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIFE	SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIFE Furniture and office equipment 5 Laboratory equipment 5 Computer equipment 3 Leasehold improvements Life of lease

FAIR VALUE OF FINANCIAL ASSET_2

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
SCHEDULE OF FINANCIAL ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS	The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis: SCHEDULE OF FINANCIAL ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS Fair Value Measurements as of December 31, 2023, Using: Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ — $ 7,924 $ — $ 7,924 Short-term investments: US Government Agency bonds — 8,625 — 8,625 US Treasury bonds — 5,148 — 5,148 Total Cash equivalents and Short-term investments $ — $ 21,697 $ — $ 21,697

SHORT-TERM INVESTMENTS (Tables)

SHORT-TERM INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, All Other Investments [Abstract]
SCHEDULE OF AVAILABLE FOR SALE INVESTMENTS	SCHEDULE OF AVAILABLE FOR SALE INVESTMENTS Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Credit Losses Fair Value US Government agency bonds $ 8,617 $ 8 $ — $ — $ 8,625 US Treasury bonds 5,144 4 — — 5,148 Total $ 13,761 $ 12 $ — $ — $ 13,773

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY AND EQUIPMENT	Property and equipment consisted of the following at December 31, 2023 and 2022: SCHEDULE OF PROPERTY AND EQUIPMENT December 31, 2023 December 31, 2022 Furniture and office equipment $ 148 $ 148 Laboratory equipment 2,792 2,762 Computer equipment 127 127 Leasehold improvements 557 557 Construction-in-progress 995 — Property and equipment, gross 4,619 3,594 Less: accumulated depreciation and amortization (3,449 ) (2,950 ) Property and equipment, net $ 1,170 $ 644

LEASE LIABILITIES (Tables)

LEASE LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Lease Liabilities
SCHEDULE OF MATURITIES LEASE LIABILITIES	The maturities of the Company’s lease liabilities are as follows as of December 31, 2023: SCHEDULE OF MATURITIES LEASE LIABILITIES Years ending 2024 $ 653 2025 330 2026 362 2027 331 2028 275 Thereafter 568 Total lease liabilities 2,519 Less: current portion (653 ) Long-term portion $ 1,866

NOTES PAYABLE _ SHAREHOLDERS (T

NOTES PAYABLE – SHAREHOLDERS (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Payable Shareholders
SCHEDULE OF WARRANTS	SCHEDULE OF WARRANTS Exercise price $ 6.00 Expected dividends — Expected volatility 96.0 % Risk free interest rate 3.50 % Life of the warrants 3.0
SCHEDULE OF CHANGES IN ESTIMATED FAIR VALUE OF WARRANT LIABILITIES	SCHEDULE OF CHANGES IN ESTIMATED FAIR VALUE OF WARRANT LIABILITIES Years Ended December 31, 2023 2022 Beginning balance $ 169 $ - Recognition of warrant liabilities - 169 Change in fair value - - Extinguishment (169 ) - Ending balance $ - $ 169

CONVERTIBLE NOTES PAYABLE _ S_2

CONVERTIBLE NOTES PAYABLE – SHAREHOLDERS (Tables)	12 Months Ended
	Dec. 31, 2023
Convertible Notes Payable Shareholders
SCHEDULE OF CONVERTIBLE NOTES PAYABLE TO SHAREHOLDERS	Convertible notes payable to shareholders consisted of the following as of December 31, 2023 and 2022: SCHEDULE OF CONVERTIBLE NOTES PAYABLE TO SHAREHOLDERS December 31, 2023 December 31, 2022 Convertible notes payable - shareholders (a) (a) $ — $ 7,838 Convertible note payable - shareholder (b) (b) — 1,500 Convertible notes payable – shareholders (c) (c) — 700 Convertible notes payable - shareholders (d) (d) — 5,369 Convertible notes payable - shareholders — 15,407 Less: current portion — (15,407 ) Convertible notes payable – shareholders – long - term portion $ — $ — (a) During the years ended December 31, 2011 through 2016, the Company entered into convertible note payable agreements with individuals aggregating to a total amount of $ 7,988 8 25.73 As of December 31, 2022, the principal amount due on the notes aggregated to $ 7,838 2,890 60 36 15 7,778 2,867 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest, except for $ 65 58 1,554,814 6.78 During the year ended December 31, 2023, the Company repaid $ 25 20 40 38 2,094 (b) In April 2016, the Company entered into a convertible note payable agreement with a shareholder in the amount of $ 2,661 11.51 6.78 10 6.78 As of December 31, 2022, total principal of $ 1,500 560 10 1,500 570 Upon the closing of the IPO, all of the principal plus accrued and unpaid loan fees automatically converted into 303,835 6.78 (c) In April 2018, the Company entered into two convertible note payable agreements with a shareholder under which the Company borrowed an aggregate total of $ 700 5.0 12.00 90 As of December 31, 2022, total principal of $ 700 164 3 700 167 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest automatically converted into 160,563 5.40 90 (d) During the years ended December 31, 2019 through 2021, the Company entered into convertible note payable agreements with several shareholders under which the Company borrowed an aggregate amount of $ 5,369 5.0 12.00 90 As of December 31, 2022, total principal of $ 5,369 758 22 5,369 780 Upon the closing of the IPO, all of the principal plus accrued and unpaid interest automatically converted into 1,134,063 5.40 90 217,771 9.00 10.50

CONVERTIBLE NOTES PAYABLE (Tabl

CONVERTIBLE NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
SCHEDULE OF CONVERTIBLE NOTES PAYABLE	Convertible notes payable consisted of the following as of December 31, 2023 and 2022: SCHEDULE OF CONVERTIBLE NOTES PAYABLE December 31, 2023 December 31, 2022 Convertible note payable $ - $ 9,065 Less: debt discount - (541 ) Convertible notes payable, net $ - $ 8,524

SHAREHOLDERS_ EQUITY (Tables)

SHAREHOLDERS’ EQUITY (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
SCHEDULE OF PREFERRED STOCK	As of December 31, 2022, authorized shares and shares issued and outstanding of the Company’s preferred stock by series were as follows: SCHEDULE OF PREFERRED STOCK Authorized Shares Issued and Outstanding Par Value Series A Preferred Stock 4,500,000 4,500,000 4,500 Series B Preferred Stock 608,000 608,000 608 Series C Preferred Stock 5,000,000 5,000,000 5,000 Series D Preferred Stock 3,000,000 3,000,000 3,000 Series E Preferred Stock 1,591,994 1,591,994 1,592 Series F Preferred Stock 953,000 953,000 953 Series H Preferred Stock 5,000,000 536,000 536 Series I Preferred Stock 2,775,000 2,757,442 2,757 Series J Preferred Stock 2,500,000 1,281,600 1,282 Series K Preferred Stock 4,000,000 1,866,853 1,867 Total 29,927,994 22,094,889 22,095
SCHEDULE OF RESTRICTED COMMON STOCK ACTIVITY	The following table summarizes restricted common stock activity during the year ended December 31, 2023: SCHEDULE OF RESTRICTED COMMON STOCK ACTIVITY Number of Restricted Shares Fair Value Weighted Average Grant Date Fair Value Non-vested, December 31, 2022 - $ - $ - Granted 171,400 2,043 11.92 Vested (113,500) (940 ) 6.57 Forfeited - - - Non-vested, December 31, 2023 57,900 $ 1,103 $ 22.40
SCHEDULE OF OPTION GRANTED	The assumptions used for the options granted during the year ended December 31, 2023 are as follows: SCHEDULE OF OPTION GRANTED Exercise prices $ 13.97 22.40 Expected dividends — Expected volatility 100.0 % Risk free interest rate 3.9 4.4 % Expected life of options 5.5 6.6 The assumptions used for all of the options granted during the year ended December 31, 2022 are as follows: Exercise prices $ 9.00 10.50 Expected dividends — Expected volatility 94.6 96.1 % Risk free interest rate 0.34 % Expected life of options 5.0 5.9
SCHEDULE OF STOCK OPTION ACTIVITY	The table below summarizes the Company’s stock option activities for the years ended December 31, 2023 and 2022: SCHEDULE OF STOCK OPTION ACTIVITY Number of Option Shares Exercise Price Range Per Share Weighted Average Exercise Price Balance, December 31, 2021 3,953,234 $ 9.00 10.50 $ 10.11 Granted 247,785 9.00 10.50 10.40 Cancelled — — — Exercised — — — Expired — — — Balance, December 31, 2022 4,201,019 9.00 10.50 10.12 Granted 1,150,688 13.97 22.40 22.26 Cancelled — — — Exercised (232,787 ) 6.00 10.50 6.34 Expired (51,581 ) 6.00 6.00 Balance, December 31, 2023 5,067,339 $ 6.00 22.40 $ 9.76 Vested and exercisable, December 31, 2023 3,780,455 $ 6.00 10.50 $ 6.09 Unvested, December 31, 2023 1,286,884 $ 6.00 22.40 $ 20.66
SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS	The following table summarizes information concerning outstanding and exercisable options as of December 31, 2023: SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Average Remaining Contractual Life (in years) Weighted Average Exercise Price $ 6.00 3,826,552 4.55 $ 6.00 3,689,352 4.43 $ 6.00 6.01 10.50 90,099 2.03 9.52 90,099 2.03 9.52 10.51 22.40 1,150,688 9.70 22.26 704 9.69 22.40 $ 6.00 22.40 5,067,339 5.68 $ 9.76 3,780,455 4.37 $ 6.09
SUMMARY OF STOCK BASED COMPENSATION EXPENSE	The following table summarizes the stock-based compensation expense, for stock options only, by line item in the statements of operations for the years ended December 31, 2023 and 2022, respectively. SUMMARY OF STOCK BASED COMPENSATION EXPENSE December 31, 2023 December 31, 2022 Research and development $ 915 $ 368 General and administrative 1,600 2,047 Total stock-based compensation expense $ 2,515 $ 2,415
SCHEDULE OF WARRANTS ACTIVITY	The table below summarizes the Company’s warrants activities for the years ended December 31, 2023 and 2022: SCHEDULE OF WARRANTS ACTIVITY Number of Warrant Shares Exercise Price Range Per Share Weighted Average Exercise Price Balance, December 31, 2021 823,123 $ 0.03 10.50 $ 7.56 Granted — — — Cancelled — — — Exercised (16,666 ) 0.03 9.00 7.21 Expired (81,283 ) 0.03 10.50 1.56 Balance, December 31, 2022 725,174 3.00 10.50 8.24 Granted 447,906 5.40 10.50 7.87 Cancelled (36 ) 9.00 9.00 Exercised (655,523 ) 6.00 10.50 8.81 Expired (4,762 ) 10.50 10.50 Balance, December 31, 2023 512,759 $ 3.00 10.50 $ 7.14 Vested and exercisable, December 31, 2023 512,759 $ 3.00 10.50 $ 7.14
SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS	The following table summarizes information concerning outstanding and exercisable warrants as of December 31, 2023: SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS Warrants Outstanding Warrants Exercisable Range of Exercise Prices Number Outstanding Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Average Remaining Contractual Life (in years) Weighted Average Exercise Price $ 3.00 133,333 3.17 $ 3.00 133,333 3.17 $ 3.00 3.01 10.49 375,617 2.24 8.57 375,617 2.24 8.57 10.50 3,809 0.31 10.50 3,809 0.31 10.50 $ 3.00 10.50 512,759 2.46 $ 7.14 512,759 2.46 $ 7.14

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	Significant components of the provision for income taxes for the years ended December 31, 2023 and 2022 are as follows: PROVISION FOR INCOME TAXES December 31, 2023 December 31, 2022 Current Federal $ (6,014 ) $ 258 State (2,547 ) 93 Foreign — 1,100 Total (8,561 ) 1,451 Deferred Federal 4,876 3,448 State 2,227 538 Total 7,103 3,986 Total income tax expense before change in valuation allowance (1,458 ) 5,437 Change in valuation allowance 1,458 (4,337 ) Total income tax expense $ — $ 1,100
INCOME TAX RECONCILIATION BASED ON FEDERAL STATUTORY RATE	The reconciliation of income tax attributable to income before provision for income taxes at the U.S. federal statutory tax rate to income tax expense for the years ended December 31, 2023 and 2022 is as follows: INCOME TAX RECONCILIATION BASED ON FEDERAL STATUTORY RATE December 31, 2023 December 31, 2022 Statutory federal income tax rate of 21% applied to loss before income taxes $ (5,942 ) $ (1,093 ) State income tax rate of 7%, net of federal benefit (2,017 ) (364 ) Foreign income taxes — 1,100 Convertible note interest — 12 Other temporary differences (83 ) 1,339 Change in valuation allowance 8,042 106 Total income tax expense $ — $ 1,100
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES	Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022 were as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES December 31, December 31, Deferred tax assets Stock-based compensation $ 10,900 $ 9,181 Accruals 1,690 4,388 Fixed assets 67 67 Net operating losses 45,593 34,921 Tax credits 4,549 4,549 Total deferred tax assets 62,799 53,106 Deferred tax liabilities State taxes (3,686 ) (2,623 ) Prepaid expenses (234 ) (446 ) Fixed assets — 75 Total deferred tax liabilities (3,920 ) (2,994 ) Net deferred tax assets before valuation allowance 58,879 50,112 Valuation allowance (58,879 ) (50,112 ) Net deferred tax assets $ — $ —

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss		$ 28,297	$ 5,207
Cash used in operations		20,275	$ 3,571
Cash and cash equivalents and short-term investments		$ 23,191
Reverse stock split	1-for-3 reverse stock split

SCHEDULE OF POTENTIALLY DILUTIV

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,637,998	16,072,244
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		3,394,569
Common Stock Equivalent of Series A Through K Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		7,567,630
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,067,339	4,201,019
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	512,759	725,174
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	57,900
Stock Warrants Issuable Upon Conversion of Notes Payable [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		183,852

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIFE (Details)	12 Months Ended
	Dec. 31, 2023
Furniture And Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	5 years
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	5 years
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	3 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Leasehold improvements	Life of lease

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Product Information [Line Items]
Revenue	$ 170	$ 11,068
Deferred offering costs	303
General and administrative expenses	11,568	5,003
Unrealized gains on short term investments, net of tax	12
Patents [Member]
Product Information [Line Items]
General and administrative expenses	107	88
Fair Value, Inputs, Level 3 [Member]
Product Information [Line Items]
Warrant liabilities	169
IPO [Member]
Product Information [Line Items]
Deferred offering costs	1,871	1,568
Money Market Funds [Member]
Product Information [Line Items]
Cash	$ 7,924	0
Newsoara Agreement [Member] | Supplying Product [Member]
Product Information [Line Items]
Revenue		$ 170

SCHEDULE OF FINANCIAL ASSETS AN

SCHEDULE OF FINANCIAL ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Cash equivalents and Short-term investments	$ 21,697
US Government Agencies Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
US Government Agency bonds	8,625
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
US Government Agency bonds	5,148
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	7,924
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Cash equivalents and Short-term investments
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
US Government Agency bonds
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
US Government Agency bonds
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Cash equivalents and Short-term investments	21,697
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
US Government Agency bonds	8,625
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
US Government Agency bonds	5,148
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	7,924
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Cash equivalents and Short-term investments
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
US Government Agency bonds
Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
US Government Agency bonds
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds

SCHEDULE OF AVAILABLE FOR SALE

SCHEDULE OF AVAILABLE FOR SALE INVESTMENTS (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	$ 13,761
Gross Unrealized Gains	12
Gross Unrealized Losses
Credit Losses
Fair Value	13,773
US Government Agencies Debt Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	8,617
Gross Unrealized Gains	8
Gross Unrealized Losses
Credit Losses
Fair Value	8,625
US Treasury Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	5,144
Gross Unrealized Gains	4
Gross Unrealized Losses
Credit Losses
Fair Value	$ 5,148

SCHEDULE OF PROPERTY AND EQUI_2

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,619	$ 3,594
Less: accumulated depreciation and amortization	(3,449)	(2,950)
Property and equipment, net	1,170	644
Furniture And Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	148	148
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,792	2,762
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	127	127
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	557	557
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 995

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 499	$ 553

ACCRUED PAYROLL AND PAYROLL T_2

ACCRUED PAYROLL AND PAYROLL TAXES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Accured repaid	$ 1,187
Payroll tax liability	2,037
Repayments of debt	1,716
Other liabilities	321
Accrued payroll and payroll taxes current	$ 2,117	$ 2,852
Chief Executive Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Accrued compensation		$ 2,852

SCHEDULE OF MATURITIES LEASE LI

SCHEDULE OF MATURITIES LEASE LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Nov. 30, 2023	Jul. 31, 2023	Feb. 28, 2023	Dec. 31, 2022	Apr. 30, 2022	Jul. 31, 2021	Dec. 31, 2020	Jul. 31, 2018
Lease Liabilities
2024	$ 653
2025	330
2026	362
2027	331
2028	275
Thereafter	568
Total lease liabilities	2,519	$ 803	$ 909	$ 649	$ 1,430	$ 860	$ 656	$ 12	$ 174
Less: current portion	(653)				(266)
Long-term portion	$ 1,866				$ 1,164

LEASE LIABILITIES (Details Narr

LEASE LIABILITIES (Details Narrative) - USD ($) $ in Thousands		1 Months Ended						12 Months Ended
	Jul. 31, 2023	Nov. 30, 2023	Feb. 28, 2023	Apr. 30, 2022	Jul. 31, 2021	Dec. 31, 2020	Jul. 31, 2018	Dec. 31, 2023	Dec. 31, 2022
Aggregate average monthly payments		$ 12	$ 30		$ 10	$ 18	$ 10
Option to extend lease	extended the lease for an additional two-year period, through October 2030, with no changes to any of the other terms of the lease and has the option to extend the lease for an additional five years. Prior to the extension, the remaining lease liability amounted to $701	extend for an additional five years	extended the lease term through December 2024, with no changes to any of the other terms of the lease	the option to extend the lease for an additional five years			option to extend for an additional five years
Operating lease right of use asset								$ 2,428	$ 1,335
Operating lease liability	$ 909	$ 803	$ 649	$ 860	$ 656	$ 12	$ 174	2,519	1,430
Operating lease discount rate	7%	7%	5.50%	4%	4%	4%	4%
Increase in lease liability	$ 208		$ 637	$ 686				(523)	(389)
Payment for operating lease								523	389
Operating Lease, Right-of-Use Asset, Periodic Reduction								519	415
Rent expense								$ 36	$ 36
Accounting Standards Update 2016-02 [Member]
Operating lease right of use asset							$ 518
Operating lease liability						$ 439	$ 519

SCHEDULE OF WARRANTS (Details)

SCHEDULE OF WARRANTS (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Expected dividends
Expected volatility	100%
Risk free interest rate		0.34%
Warrant [Member]
Exercise price	$ 6
Expected dividends
Expected volatility	96%
Risk free interest rate	3.50%
Life of the warrants	3 years

SCHEDULE OF CHANGES IN ESTIMATE

SCHEDULE OF CHANGES IN ESTIMATED FAIR VALUE OF WARRANT LIABILITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Notes Payable Shareholders
Warrant, beginning balance	$ 169
Recognition of warrant liabilities		169
Change in fair value
Extinguishment	(169)
Warrant, ending balance		$ 169

NOTES PAYABLE _ SHAREHOLDERS (D

NOTES PAYABLE – SHAREHOLDERS (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Outstanding principal amount		$ 1,100
Accrued and unpaid interest		5
Borrowings	$ 900
Repayment of debt	600
Accrued interest	11
Borrowed principal	1,400
Debt accrued interest	$ 63
Conversion of convertible shares	73,134
Fair value on conversion of convertible	$ 1,865
Notes accrued interest	69
Debt extinguishment cost	$ 402
Description of warrants	the Company issued the note holders stock warrants to purchase up to an aggregate total of 44,441 shares of its common stock with an exercise price per share equal to 90% of the IPO price, or $5.40 per share, based on the IPO closing price
Fair value of warrants
Debt discount of issuance amount		169
Amortized debt discount	$ 108	61
Unamortized debt discount		108
IPO [Member] | Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Warrants issued	44,441
Note Holders [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Fair value of warrants	$ 169
Note Payable Agreements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Note payable		$ 1,100
Notes accrued interest		12%

SCHEDULE OF CONVERTIBLE NOTES P

SCHEDULE OF CONVERTIBLE NOTES PAYABLE TO SHAREHOLDERS (Details) - USD ($) $ in Thousands	Dec. 31, 2023		Jan. 30, 2023	Dec. 31, 2022		Dec. 31, 2021	Apr. 30, 2018	Dec. 31, 2016	Apr. 30, 2016
Short-Term Debt [Line Items]
Convertible notes payable - shareholders				$ 15,407
Less: current portion				(15,407)
Convertible notes payable – shareholders – long - term portion
Convertible Notes Payable Shareholder One [Member]
Short-Term Debt [Line Items]
Convertible notes payable - shareholders		[1]	$ 7,778	7,838	[1]			$ 7,988
Less: current portion	(40)
Convertible Notes Payable Shareholder Two [Member]
Short-Term Debt [Line Items]
Convertible notes payable - shareholders		[2]	1,500	1,500	[2]				$ 2,661
Convertible Notes Payable Shareholder Three [Member]
Short-Term Debt [Line Items]
Convertible notes payable - shareholders		[3]	700	700	[3]		$ 700
Convertible Notes Payable Shareholder Four [Member]
Short-Term Debt [Line Items]
Convertible notes payable - shareholders		[4]	$ 5,369	$ 5,369	[4]	$ 5,369
[1]During the years ended December 31, 2011 through 2016, the Company entered into convertible note payable agreements with individuals aggregating to a total amount of $ 7,988 8 25.73 2,661 11.51 6.78 10 6.78 700 5.0 12.00 90 5,369 5.0 12.00 90

SCHEDULE OF CONVERTIBLE NOTES_2

SCHEDULE OF CONVERTIBLE NOTES PAYABLE TO SHAREHOLDERS (Details) (Parenthetical) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Jan. 30, 2023	May 31, 2018	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021	Apr. 30, 2018	Dec. 31, 2016	Apr. 30, 2016
Principal amount owed on notes					$ 15,407
Accrued and unpaid interest			11
Repayment of debt			1,716
Accrued interest			$ 69
Conversion of common stock			73,134
Repayment of debt			$ 685
Accrued interest on notes payable					1,178
Convertible notes payable					15,407
Warrants to purchase shares			217,771
Common Stock [Member]
Conversion of shares			73,134
Convertible Notes Payable Shareholder One [Member]
Principal amount owed on notes	$ 7,778			[1]	7,838	[1]			$ 7,988
Accrued interest percentage									8%
Conversion price	$ 6.78
Accrued and unpaid interest	$ 2,867		38		2,890
Repayment of debt			60
Payment on accrued and unpaid interest			36
Accrued interest			15
Notes payable	65
Nonconvertible accrued and unpaid interest	$ 58
Conversion of common stock	1,554,814
Repayment of debt			25
Accrued interest on notes payable			20
Convertible notes payable			$ 40
Conversion of shares			2,094
Convertible Notes Payable Shareholder One [Member] | Series K Preferred Stock [Member]
Conversion price									$ 25.73
Convertible Notes Payable Shareholder Two [Member]
Principal amount owed on notes	$ 1,500			[2]	1,500	[2]				$ 2,661
Accrued interest percentage										11.51%
Conversion price	$ 6.78	$ 6.78								$ 6.78
Conversion of common stock	303,835
Accrued loan fees		$ 10	10
Accrued and unpaid loan fees owed on notes	$ 570				560
Convertible Notes Payable Shareholder Three [Member]
Principal amount owed on notes	700			[3]	700	[3]		$ 700
Accrued interest percentage								5%
Conversion price								$ 12
Accrued and unpaid interest	$ 167				164
Accrued interest			3
Initial public offering closing price								90%
Convertible Notes Payable Shareholder Three [Member] | Common Stock [Member]
Conversion price	$ 5.40
Conversion of common stock	160,563
Initial public offering closing price	90%
Convertible Notes Payable Shareholder Four [Member]
Principal amount owed on notes	$ 5,369			[4]	5,369	[4]	$ 5,369
Accrued interest percentage							5%
Conversion price	$ 5.40						$ 12
Accrued and unpaid interest	$ 780				$ 758
Accrued interest			$ 22
Conversion of common stock	1,134,063
Initial public offering closing price	90%						90%
Warrants to purchase shares			217,771
Common stock exercise price			$ 9
Warrants exercise price			$ 10.50
[1]During the years ended December 31, 2011 through 2016, the Company entered into convertible note payable agreements with individuals aggregating to a total amount of $ 7,988 8 25.73 2,661 11.51 6.78 10 6.78 700 5.0 12.00 90 5,369 5.0 12.00 90

SCHEDULE OF CONVERTIBLE NOTES_3

SCHEDULE OF CONVERTIBLE NOTES PAYABLE (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Convertible note payable		$ 9,065
Less: debt discount		(541)
Convertible notes payable, net		$ 8,524

CONVERTIBLE NOTES PAYABLE (Deta

CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Short-Term Debt [Line Items]
Principal amount owed on notes			$ 15,407
Warrants to purchase shares		217,771
Accrued and unpaid interest		$ 11
Accrued interest		69
Unamortized debt discount			108
Amortized debt discount		$ 649	258
Debt conversion shares issued		73,134
Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Principal amount owed on notes	$ 9,065		9,065
Conversion price	$ 10.50
Accrued and unpaid interest	$ 1,223		1,178
Accrued interest		$ 45
Unamortized debt discount			$ 541
Amortized debt discount		$ 541
Debt conversion shares issued	979,619
Convertible Note Payable Agreements [Member]
Short-Term Debt [Line Items]
Principal amount owed on notes				$ 9,065	$ 9,065
Accrued interest percentage				6%	6%
Conversion price				$ 10.50	$ 10.50
Warrants to purchase shares				146,641	146,641
Warrants exercise price				$ 10.50	$ 10.50
Exercise of warrants shares		70,265

U.S. SMALL BUSINESS ADMINISTR_2

U.S. SMALL BUSINESS ADMINISTRATION LOAN UNDER THE CARES ACT (Details Narrative) - Loan Agreement [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from loans	$ 314
Accrued interest percentage	1%
Loans payable		$ 0

LICENSE AGREEMENTS (Details Nar

LICENSE AGREEMENTS (Details Narrative) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Nov. 30, 2021	Sep. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Provision for foreign income taxes				$ 1,100
Repayments of debt			1,716
Agreement with Newsoara Bio Pharma Co Ltd [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Up-front and near-term payments		$ 9,900
Additional product payments		160,500
Proceeds from license fees received				$ 5,400	$ 4,500
Income tax rate				10%	10%
Royalty expense			5,000
Primary performance obligation		$ 6,000
Related revenue				$ 11,000
Provision for foreign income taxes				1,100
Repayments of debt				9,900
Agreement with Newsoara Bio Pharma Co Ltd [Member] | State Administration of Taxation, China [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Income tax rate		10%
Agreement with ELIAS Animal Health LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from license fees received	$ 60
Royalty expense			$ 60
Related revenue				68
Repayments of debt				60
Revenue performance obligation, amount				60
Agreement with ELIAS Animal Health LLC [Member] | Manufacturing Facility [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue performance obligation, amount				$ 8

SCHEDULE OF PREFERRED STOCK (De

SCHEDULE OF PREFERRED STOCK (Details)	Dec. 31, 2022 $ / shares shares
Class of Stock [Line Items]
Preferred stock, shares authorized	29,927,994
Preferred stock, par value | $ / shares	$ 22,095
Preferred stock, shares issued	22,094,889
Preferred stock, shares outstanding	22,094,889
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	4,500,000
Preferred stock, par value | $ / shares	$ 4,500
Preferred stock, shares issued	4,500,000
Preferred stock, shares outstanding	4,500,000
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	608,000
Preferred stock, par value | $ / shares	$ 608
Preferred stock, shares issued	608,000
Preferred stock, shares outstanding	608,000
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	5,000,000
Preferred stock, par value | $ / shares	$ 5,000
Preferred stock, shares issued	5,000,000
Preferred stock, shares outstanding	5,000,000
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	3,000,000
Preferred stock, par value | $ / shares	$ 3,000
Preferred stock, shares issued	3,000,000
Preferred stock, shares outstanding	3,000,000
Series E Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	1,591,994
Preferred stock, par value | $ / shares	$ 1,592
Preferred stock, shares issued	1,591,994
Preferred stock, shares outstanding	1,591,994
Series F Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	953,000
Preferred stock, par value | $ / shares	$ 953
Preferred stock, shares issued	953,000
Preferred stock, shares outstanding	953,000
Series H Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	5,000,000
Preferred stock, par value | $ / shares	$ 536
Preferred stock, shares issued	536,000
Preferred stock, shares outstanding	536,000
Series I Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	2,775,000
Preferred stock, par value | $ / shares	$ 2,757
Preferred stock, shares issued	2,757,442
Preferred stock, shares outstanding	2,757,442
Series J Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	2,500,000
Preferred stock, par value | $ / shares	$ 1,282
Preferred stock, shares issued	1,281,600
Preferred stock, shares outstanding	1,281,600
Series K Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	4,000,000
Preferred stock, par value | $ / shares	$ 1,867
Preferred stock, shares issued	1,866,853
Preferred stock, shares outstanding	1,866,853

SCHEDULE OF RESTRICTED COMMON S

SCHEDULE OF RESTRICTED COMMON STOCK ACTIVITY (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Equity [Abstract]
Number of restricted shares, beginning | shares
Fair value, beginning | $
Weighted average grant date fair value, beginning | $ / shares
Number of restricted shares, granted | shares	171,400
Fair value, granted | $	$ 2,043
Weighted average grant date fair value, granted | $ / shares	$ 11.92
Number of restricted shares, vested | shares	(113,500)
Fair value, vested | $	$ (940)
Weighted average grant date fair value, vested | $ / shares	$ 6.57
Number of restricted shares, forfeited | shares
Fair value, forfeited | $
Weighted average grant date fair value, forfeited | $ / shares
Number of restricted shares, ending | shares	57,900
Fair value, ending | $	$ 1,103
Weighted average grant date fair value, ending | $ / shares	$ 22.40

SCHEDULE OF OPTION GRANTED (Det

SCHEDULE OF OPTION GRANTED (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Expected dividends
Expected volatility	100%
Risk free interest rate, minimum	3.90%
Risk free interest rate, maximum	4.40%
Expected volatility, minimum		94.60%
Expected volatility, maximum		96.10%
Risk free interest rate		0.34%
Minimum [Member]
Exercise price	$ 13.97	$ 9
Expected life of options	5 years 6 months	5 years
Maximum [Member]
Exercise price	$ 22.40	$ 10.50
Expected life of options	6 years 7 months 6 days	5 years 10 months 24 days

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of options shares, beginning	4,201,019	3,953,234
Weighted average exercise price, beginning	$ 10.12	$ 10.11
Number of options shares, granted	1,150,688	247,785
Weighted average exercise price, granted	$ 22.26	$ 10.40
Number of options shares, cancelled
Exercise price range, cancelled
Weighted average exercise price, cancelled
Number of options shares, exercised	(232,787)
Exercise price range, exercised
Weighted average exercise price, exercised	$ 6.34
Number of options shares, expired	51,581
Exercise price range, expired	$ 6
Weighted average exercise price, expired	$ 6
Number of options shares, expired	(51,581)
Number of options shares, ending	5,067,339	4,201,019
Weighted average exercise price, ending	$ 9.76	$ 10.12
Number of options shares, vested and exercisable	3,780,455
Weighted average exercise price, vested and exercisable	$ 6.09
Number of options shares, unvested	1,286,884
Weighted average exercise price, unvested	$ 20.66
Minimum [Member]
Exercise price range, beginning	9	9
Exercise price range, granted	13.97	9
Exercise price range, exercised	6
Exercise price range, ending	6	9
Exercise price range, vested and exercisable	6
Exercise price range, unvested	6
Maximum [Member]
Exercise price range, beginning	10.50	10.50
Exercise price range, granted	22.40	10.50
Exercise price range, exercised	10.50
Exercise price range, ending	22.40	$ 10.50
Exercise price range, vested and exercisable	10.50
Exercise price range, unvested	$ 22.40

SCHEDULE OF OUTSTANDING AND EXE

SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2023
Exercise Price Range One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 6	$ 6
Options outstanding number of outstanding		3,826,552
Options outstanding average remaining contractual life		4 years 6 months 18 days
Options outstaning weighted average exercise price		$ 6
Options exercisable number of outstanding		3,689,352
Options exercisable average remaining contractual life		4 years 5 months 4 days
Options exercisable weighted average exercise price		$ 6
Exercise Price Range Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	10.50	$ 10.50
Options outstanding number of outstanding		90,099
Options outstanding average remaining contractual life		2 years 10 days
Options outstaning weighted average exercise price		$ 9.52
Options exercisable number of outstanding		90,099
Options exercisable average remaining contractual life		2 years 10 days
Options exercisable weighted average exercise price		$ 9.52
Range of exercise prices, lower limit	$ 9	6.01
Exercise Price Range Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit		$ 22.40
Options outstanding number of outstanding		1,150,688
Options outstanding average remaining contractual life		9 years 8 months 12 days
Options outstaning weighted average exercise price		$ 22.26
Options exercisable number of outstanding		704
Options exercisable average remaining contractual life		9 years 8 months 8 days
Options exercisable weighted average exercise price		$ 22.40
Range of exercise prices, lower limit		10.51
Exercise Price Range Four [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit		$ 22.40
Options outstanding number of outstanding		5,067,339
Options outstanding average remaining contractual life		5 years 8 months 4 days
Options outstaning weighted average exercise price		$ 9.76
Options exercisable number of outstanding		3,780,455
Options exercisable average remaining contractual life		4 years 4 months 13 days
Options exercisable weighted average exercise price		$ 6.09
Range of exercise prices, lower limit		$ 6

SUMMARY OF STOCK BASED COMPENSA

SUMMARY OF STOCK BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Total stock-based compensation expense	$ 2,515	$ 2,415
Research and Development Expense [Member]
Total stock-based compensation expense	915	368
General and Administrative Expense [Member]
Total stock-based compensation expense	$ 1,600	$ 2,047

SCHEDULE OF WARRANTS ACTIVITY (

SCHEDULE OF WARRANTS ACTIVITY (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of warrant shares, beginning	725,174	823,123
Weighted average exercise price, beginning	$ 8.24	$ 7.56
Number of warrant shares, granted	447,906
Exercise price range range per share, granted
Weighted average exercise price, granted	$ 7.87
Number of warrant shares, cancelled	(36)
Exercise price range range per share, cancelled	$ 9
Weighted average exercise price, cancelled	$ 9
Number of warrant shares, exercised	(655,523)	(16,666)
Weighted average exercise price, exercised	$ 8.81	$ 7.21
Number of warrant shares, expired	(4,762)	(81,283)
Exercise price range range per share, expired	$ 10.50
Weighted average exercise price, expired	$ 10.50	$ 1.56
Number of warrant shares, ending	512,759	725,174
Weighted average exercise price, ending	$ 7.14	$ 8.24
Number of warrant shares, exercisable	512,759
Weighted average exercise price, exercisable	$ 7.14
Minimum [Member]
Exercise price range range per share, beginning	3	0.03
Exercise price range range per share, granted	5.40
Exercise price range range per share, exercised	6	0.03
Exercise price range range per share, expired		0.03
Exercise price range range per share, ending	3	3
Exercise price range range per share, exercisable	3
Maximum [Member]
Exercise price range range per share, beginning	10.50	10.50
Exercise price range range per share, granted	10.50
Exercise price range range per share, exercised	10.50	9
Exercise price range range per share, expired		10.50
Exercise price range range per share, ending	10.50	$ 10.50
Exercise price range range per share, exercisable	$ 10.50

SCHEDULE OF OUTSTANDING AND E_2

SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrants Outstanding number of outstanding	512,759	725,174	823,123
Warrants outstaning weighted average exercise price	$ 7.14	$ 8.24	$ 7.56
Warrants exercisable number of outstanding	512,759
Warrants exercisable weighted average exercise price	$ 7.14
Exercise Price Range One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 3
Warrants Outstanding number of outstanding	133,333
Warrants outstanding average remaining contractual life	3 years 2 months 1 day
Warrants outstaning weighted average exercise price	$ 3
Warrants exercisable number of outstanding	133,333
Warrants exercisable average remaining contractual life	3 years 2 months 1 day
Warrants exercisable weighted average exercise price	$ 3
Exercise Price Range Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 10.49
Warrants Outstanding number of outstanding	375,617
Warrants outstanding average remaining contractual life	2 years 2 months 26 days
Warrants outstaning weighted average exercise price	$ 8.57
Warrants exercisable number of outstanding	375,617
Warrants exercisable average remaining contractual life	2 years 2 months 26 days
Warrants exercisable weighted average exercise price	$ 8.57
Range of exercise prices, lower limit	3.01
Exercise Price Range Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 10.50
Warrants Outstanding number of outstanding	3,809
Warrants outstanding average remaining contractual life	3 months 21 days
Warrants outstaning weighted average exercise price	$ 10.50
Warrants exercisable number of outstanding	3,809
Warrants exercisable average remaining contractual life	3 months 21 days
Warrants exercisable weighted average exercise price	$ 10.50
Exercise Price Range Four [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, upper limit	$ 10.50
Warrants Outstanding number of outstanding	512,759
Warrants outstanding average remaining contractual life	2 years 5 months 15 days
Warrants outstaning weighted average exercise price	$ 7.14
Warrants exercisable number of outstanding	512,759
Warrants exercisable average remaining contractual life	2 years 5 months 15 days
Warrants exercisable weighted average exercise price	$ 7.14
Range of exercise prices, lower limit	$ 3

SHAREHOLDERS_ EQUITY (Details N

SHAREHOLDERS’ EQUITY (Details Narrative) - USD ($)

1 Months Ended

2 Months Ended

9 Months Ended

12 Months Ended

Jun. 09, 2023

May 12, 2023

May 12, 2023

Feb. 17, 2023

Jan. 30, 2023

Sep. 30, 2018

Feb. 28, 2023

Jun. 30, 2022

Sep. 30, 2018

Mar. 15, 2024

Sep. 30, 2023

Sep. 30, 2022

Dec. 31, 2023

Dec. 31, 2022

Jan. 31, 2024

Nov. 30, 2023

Jan. 31, 2023

Jan. 01, 2023

Dec. 30, 2022

Aug. 31, 2009

Class of Stock [Line Items]

Preferred stock, shares authorized

29,927,994

Common stock, shares authorized

200,000,000

200,000,000

200,000,000

75,000,000

Common stock, shares issued

26,788,986

9,126,726

Common stock, shares outstanding

26,788,986

9,126,726

Gross proceeds of the IPO

$ 14,503,000

Received committed investment amounts

6,000

Gross proceeds from common stock

25,142,000

Aggregate committed investment amounts

$ 30,000

Issuance of restricted shares

171,400

Fair value granted

$ 2,043,000

Stock compensation

940,000

Unamortized compensation

$ 1,103,000

Granted shares

1,150,688

247,785

Fair market value of shares percentage, description

(i) 100% of the fair market value of a share of stock on the grant date, or (ii) 110% of the fair market value of a share of stock on the grant date in the case of a Participant then owning more than 10% of the total combined voting power of all classes of stock of the Company or any “subsidiary corporation” of the Company or any “parent corporation” of the Company

Exercise price per share

$ 6.34

Share compensation

$ 2,515,000

$ 2,415,000

Repricing costs

$ 2,733,000

$ 2,689,000

Number of options shares, exercised

232,787

Proceeds from the exercise of stock options

$ 1,474,000

Unvested compensation

$ 19,825,000

Weighted average grant date fair value

$ 22.26

$ 7.68

Aggregate intrinsic value outstanding

$ 31,056,000

Exercise of warrants shares

217,771

Fair value of warrants

Warrant exercised

$ 2,175,000

Number of restricted shares, forfeited

Aggregate intrinsic value of warrants

$ 3,141,000

Exercise Price Range Two [Member]

Class of Stock [Line Items]

Range of exercise prices, lower limit

$ 9

$ 6.01

Range of exercise prices, upper limit

10.50

$ 10.50

Options outstanding number of outstanding

90,099

Exercise price

$ 3.01

Exercise price

10.49

Exercise Price Range One [Member]

Class of Stock [Line Items]

Range of exercise prices, upper limit

$ 6

$ 6

Options outstanding number of outstanding

4,092,887

Options outstanding number of outstanding

3,826,552

Exercise price

$ 3

Subsequent Event [Member]

Class of Stock [Line Items]

Exercise of warrants shares

76,487

Exercise price

$ 9

Exercise price

$ 10.50

Warrant exercised

$ 688,000

Warrant exercised

3,809

2009 Equity Incentive Plan [Member]

Class of Stock [Line Items]

Common stock shares authorized

6,166,666

Additional shares authorized

3,774,260

2019 Equity Incentive Plan [Member]

Class of Stock [Line Items]

Shares of common stock issued

2,059,073

Shares of common stock option granted

1,632,314

2019 Equity Incentive Plan [Member] | Maximum [Member]

Class of Stock [Line Items]

Shares of common stock issued

5,833,333

2022 Plan [Member]

Class of Stock [Line Items]

Shares of common stock issued

2,800,000

Number of shares of common stock percentage

5%

2022 Plan [Member] | Subsequent Event [Member]

Class of Stock [Line Items]

Shares of common stock issued

1,339,449

2023 Inducement Plan [Member]

Class of Stock [Line Items]

Shares of common stock issued

1,000,000

2022 And Inducement Plan [Member]

Class of Stock [Line Items]

Granted shares

1,150,688

Vesting description

vest over various periods, but none longer than four years, expire ten years from the date of grant

Aggregate fair value

$ 20,676,000

2022 And Inducement Plan [Member] | Maximum [Member]

Class of Stock [Line Items]

Exercise price per share

$ 22.40

2022 And Inducement Plan [Member] | Minimum [Member]

Class of Stock [Line Items]

Exercise price per share

$ 13.97

2019 Incentive Plan [Member]

Class of Stock [Line Items]

Granted shares

247,785

Vesting description

vest over various periods, but none longer than four years, expire ten years from the date of grant

Aggregate fair value

$ 1,969,000

2019 Incentive Plan [Member] | Maximum [Member]

Class of Stock [Line Items]

Exercise price per share

$ 10.50

2019 Incentive Plan [Member] | Minimum [Member]

Class of Stock [Line Items]

Exercise price per share

$ 9

Director [Member]

Class of Stock [Line Items]

Issuance of restricted shares

113,500

57,900

Fair value granted

$ 746,000

$ 1,297,000

Executive Officers and Directors [Member] | Exercise Price Range One [Member]

Class of Stock [Line Items]

Options outstanding number of outstanding

2,796,400

Lender [Member]

Class of Stock [Line Items]

Exercise of warrants shares

217,771

Exercise price

$ 9

Exercise price

$ 10.50

Warrant Holder [Member]

Class of Stock [Line Items]

Number of restricted shares, forfeited

126,767

March Thirty One Two Thousand Twenty Four [Member]

Class of Stock [Line Items]

Investments

$ 2,000,000

IPO [Member]

Class of Stock [Line Items]

Sale of stock, shares

2,500,000

153,000

Sale of share price

$ 6

$ 6

Gross proceeds of the IPO

$ 15,918,000

Proceeds after underwriting discounts and commissions and offering expenses

$ 12,632,000

Private Placement [Member]

Class of Stock [Line Items]

Sale of stock, shares

900,000

1,665,213

Sale of share price

$ 20

$ 20

$ 20

Proceeds from common stock resulting in private placement

$ 18,000

$ 33,300

Cancellation of bridge loan and accrued interest

$ 1,463,000

1,463,000

Received committed investment amounts

$ 12,500

Received amount on investment

$ 6,000

Committed amount

$ 17,500

Investments

$ 22,000,000

Private Placement [Member] | PurchaseAgreements [Member]

Class of Stock [Line Items]

Sale of stock, shares

1,292,079

Private Placement [Member] | May 12 2023 [Member]

Class of Stock [Line Items]

Sale of stock, shares

1,017,079

Received committed investment amounts

$ 17,500

17,500

Gross proceeds from common stock

20,342

Net proceeds from common stock

$ 19,842

Private Placement [Member] | June 9 2023 [Member]

Class of Stock [Line Items]

Sale of stock, shares

275,000

Gross proceeds from common stock

$ 5,500

Net proceeds from common stock

5,300

First Private Placement [Member]

Class of Stock [Line Items]

Proceeds from common stock resulting in private placement

25,842

Second Private Placement [Member]

Class of Stock [Line Items]

Proceeds from common stock resulting in private placement

$ 25,142

Common Stock [Member]

Class of Stock [Line Items]

Shares issued in conversion

8,359,143

Shares issued in conversion price adjustment

994,705

Number of options shares, exercised

232,787

Common stock issued

1,292,079

Common Stock [Member] | 2022 Plan [Member]

Class of Stock [Line Items]

Issuance of restricted shares

171,400

Shares of common stock option granted

1,922,212

Granted shares

706,388

Fair value of stock option

$ 12,645

Common Stock [Member] | 2022 Plan [Member] | Subsequent Event [Member]

Class of Stock [Line Items]

Shares of common stock option granted

3,261,661

Common Stock [Member] | 2023 Inducement Plan [Member]

Class of Stock [Line Items]

Shares of common stock option granted

555,700

Granted shares

444,300

Fair value of stock option

$ 8,031

Common Stock [Member] | IPO [Member]

Class of Stock [Line Items]

Warrant exercised

44,441

Warrant [Member]

Class of Stock [Line Items]

Exercise of warrants shares

185,694

Exercise price

$ 6

Common stock issued

140,303

Shares outstanding

0

Fair value of warrants

$ 3,152,000

Warrant [Member] | Lender [Member]

Class of Stock [Line Items]

Exercise of warrants shares

44,441

Exercise price

$ 5.40

Warrant [Member] | IPO [Member]

Class of Stock [Line Items]

Exercise of warrants shares

185,694

Exercise price

$ 6

Warrant One [Member] | Warrant Holder [Member]

Class of Stock [Line Items]

Exercise of warrants shares

146,641

Exercise price

$ 10.50

Common stock issued

70,265

Warrant Two [Member] | Warrant Holder [Member]

Class of Stock [Line Items]

Exercise of warrants shares

16,666

Exercise price

$ 9

Common stock issued

11,666

Warrant exercised

$ 814,000

Warrant exercised

88,751

Series A Through K Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares outstanding

22,094,889

Preferred stock, shares authorized

10,000,000

29,927,994

10,000,000

29,927,994

Series H Preferred Stock [Member]

Class of Stock [Line Items]

Shares issued in conversion

272,101

Dividend earned but undeclared and unpaid

$ 3,443,000

Preferred stock, shares authorized

5,000,000

PROVISION FOR INCOME TAXES (Det

PROVISION FOR INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal	$ (6,014)	$ 258
State	(2,547)	93
Foreign		1,100
Total	(8,561)	1,451
Federal	4,876	3,448
State	2,227	538
Total	7,103	3,986
Total income tax expense before change in valuation allowance	(1,458)	5,437
Change in valuation allowance	1,458	(4,337)
Total income tax expense		$ 1,100

INCOME TAX RECONCILIATION BASED

INCOME TAX RECONCILIATION BASED ON FEDERAL STATUTORY RATE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Statutory federal income tax rate of 21% applied to loss before income taxes	$ (5,942)	$ (1,093)
State income tax rate of 7%, net of federal benefit	(2,017)	(364)
Foreign income taxes		1,100
Convertible note interest		12
Other temporary differences	(83)	1,339
Change in valuation allowance	8,042	106
Total income tax expense		$ 1,100

SCHEDULE OF DEFERRED TAX ASSETS

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Stock-based compensation	$ 10,900	$ 9,181
Accruals	1,690	4,388
Fixed assets	67	67
Net operating losses	45,593	34,921
Tax credits	4,549	4,549
Total deferred tax assets	62,799	53,106
State taxes	(3,686)	(2,623)
Prepaid expenses	(234)	(446)
Fixed assets		75
Total deferred tax liabilities	(3,920)	(2,994)
Net deferred tax assets before valuation allowance	58,879	50,112
Valuation allowance	(58,879)	(50,112)
Net deferred tax assets

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Federal income tax net operating loss carryforwards	$ 160,000	$ 132,000
California income tax net operating loss carryforwards	134,000	$ 106,000
Operating loss carryforwards	22,330
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Research and development tax credits	2,579
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Research and development tax credits	$ 1,970

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 15, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Warrants to purchase shares		217,771
Proceeds from exercise of warrants		$ 2,175
Subsequent Event [Member]
Subsequent Event [Line Items]
Warrants to purchase shares	76,487
Common stock exercise price	$ 9
Proceeds from exercise of warrants	$ 688
Warrants expire date	Mar. 31, 2024
Warrants issued	3,809
Exercise price	$ 10.50