Cellectar Biosciences (CLRB) 10-Q/A29 Oct 242024 Q1 Quarterly report (amended)Financial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2024	May 08, 2024
Document and Entity Information
Document Type	10-Q/A
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Entity File Number	1-36598
Entity Registrant Name	Cellectar Biosciences, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3321804
Entity Address, Address Line One	100 Campus Drive
Entity Address, City or Town	Florham Park
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07932
City Area Code	608
Local Phone Number	441-8120
Title of 12(b) Security	Common stock, par value $0.00001
Trading Symbol	CLRB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,848,924
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001279704
Amendment Flag	true
Amendment Description	Amendment No. 1

RESTATED CONDENSED CONSOLIDATED

RESTATED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 40,031,181	$ 9,564,988
Prepaid expenses and other current assets	1,337,184	888,225
Total current assets	41,368,365	10,453,213
Property, plant & equipment, net	1,023,447	1,090,304
Operating lease right-of-use asset	486,847	502,283
Other long-term assets	29,780	29,780
TOTAL ASSETS	42,908,439	12,075,580
CURRENT LIABILITIES:
Accounts payable and accrued liabilities	7,393,950	9,178,645
Warrant liability	21,083,028	16,120,898
Lease liability, current	73,994	58,979
Total current liabilities	28,550,972	25,358,522
Long-term lease liability, net of current portion	474,349	494,003
TOTAL LIABILITIES	29,025,321	25,852,525
COMMITMENTS AND CONTINGENCIES (Note 7)
MEZZANINE EQUITY:
Series D preferred stock, 111.11 shares authorized; 111.11 shares issued and outstanding as of March 31, 2024 and December 31, 2023	1,382,023	1,382,023
STOCKHOLDERS' EQUITY (DEFICIT):
Common stock, $0.00001 par value; 170,000,000 shares authorized; 33,164,466 and 20,744,110 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	332	207
Additional paid-in capital	224,836,048	182,924,210
Accumulated deficit	(229,403,000)	(202,761,017)
Total stockholders' equity (deficit)	12,501,095	(15,158,968)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	42,908,439	12,075,580
Series E-2 preferred stock
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock	3,474,286	$ 4,677,632
Series E-3 preferred stock
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock	$ 13,593,429

RESTATED CONDENSED CONSOLIDAT_2

RESTATED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023	Oct. 25, 2023
Temporary equity, preferred stock, shares authorized	111.11	111.11
Temporary equity, preferred stock, shares issued	111.11	111.11
Temporary equity, preferred stock, shares outstanding	111.11
Preferred stock, shares authorized	1,225	1,225
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized	170,000,000	170,000,000	160,000,000
Common stock, shares issued	33,164,466	20,744,110
Common stock, shares outstanding	33,164,466	20,744,110
Series E-2 preferred stock
Preferred stock, share issued	237.50	319.76
Preferred stock, share outstanding	237.50	319.76
Series E-3 preferred stock
Preferred stock, shares authorized	2,205	2,205
Preferred stock, share issued	630	0
Preferred stock, share outstanding	630	0

RESTATED CONDENSED CONSOLIDAT_3

RESTATED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING EXPENSES:
Research and development	$ 7,088,042	$ 6,359,256
General and administrative	4,913,444	2,346,045
Total operating expenses	12,001,486	8,705,301
LOSS FROM OPERATIONS	(12,001,486)	(8,705,301)
OTHER (EXPENSE) INCOME:
(Loss) gain on valuation of warrants	(14,960,346)	1,390,797
Interest income	319,849	124,034
Total other (expense) income, net	(14,640,497)	1,514,831
NET LOSS	$ (26,641,983)	$ (7,190,470)
BASIC NET LOSS PER SHARE	$ (0.91)	$ (0.64)
DILUTED NET LOSS PER SHARE	$ (0.91)	$ (0.64)
BASIC WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING	29,346,679	11,261,217
DILUTED WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING	29,346,679	11,261,217

RESTATED CONSOLIDATED STATEMENT

RESTATED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Pre-funded warrants Common Stock	Pre-funded warrants Additional Paid-In Capital	Pre-funded warrants	Tranche A Warrants Preferred Stock	Tranche A Warrants	Preferred Stock Series E-2 preferred stock	Preferred Stock Series E-3 preferred stock	Preferred Stock	Common Stock Series E-2 preferred stock	Common Stock Series E-3 preferred stock	Common Stock	Additional Paid-In Capital Series E-2 preferred stock	Additional Paid-In Capital Series E-3 preferred stock	Additional Paid-In Capital	Accumulated Deficit	Series D preferred stock	Total
Balance beginning at Dec. 31, 2022											$ 94			$ 168,143,557	$ (159,990,407)		$ 8,153,244
Balance beginning (in shares) at Dec. 31, 2022											9,385,272
Balance beginning Series D preferred stock at Dec. 31, 2022																$ 1,382,023
Balance beginning Series D preferred stock (in shares) at Dec. 31, 2022																111.11
Stock-based compensation														408,206			408,206
Conversion of preferred stock to common stock	$ 3		$ 3
Conversion of preferred stock to common stock (in shares)	355,235
Net loss															(7,190,470)		(7,190,470)
Balance ending Series D preferred stock at Mar. 31, 2023																$ 1,382,023
Balance ending Series D preferred stock (in shares) at Mar. 31, 2023																111.11
Balance ending at Mar. 31, 2023											$ 97			168,551,763	(167,180,877)		1,370,983
Balance ending (in shares) at Mar. 31, 2023											9,740,507
Balance beginning at Dec. 31, 2023								$ 4,677,632			$ 207			182,924,210	(202,761,017)		(15,158,968)
Balance beginning (in shares) at Dec. 31, 2023								319.76			20,744,110
Balance beginning Series D preferred stock at Dec. 31, 2023																$ 1,382,023	1,382,023
Balance beginning Series D preferred stock (in shares) at Dec. 31, 2023																111.11
Stock-based compensation														454,363			454,363
Exercise of warrants into common shares				$ 47,577,000	$ 47,577,000						$ 5			2,298,138			2,298,143
Exercise of warrants into common shares (in shares)				2,205							547,177
Conversion of preferred stock to common stock	$ 11	$ 3,972,529	$ 3,972,540			$ (1,203,346)	$ (33,983,571)		$ 9	$ 100		$ 1,203,337	$ 33,983,471
Conversion of preferred stock to common stock (in shares)	1,079,132					(82.26)	(1,575)		903,956	9,890,099
Retired shares (in shares)											(8)
Net loss															(26,641,983)		(26,641,983)
Balance ending Series D preferred stock at Mar. 31, 2024																$ 1,382,023	$ 1,382,023
Balance ending Series D preferred stock (in shares) at Mar. 31, 2024																111.11	111.11
Balance ending at Mar. 31, 2024								$ 17,067,715			$ 332			$ 224,836,048	$ (229,403,000)		$ 12,501,095
Balance ending (in shares) at Mar. 31, 2024								867.50			33,164,466

RESTATED CONDENSED CONSOLIDAT_4

RESTATED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (26,641,983)	$ (7,190,470)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	88,490	42,557
Stock-based compensation expense	454,363	408,206
Change in fair value of warrants	14,960,346	(1,390,797)
Change in operating lease right-of-use asset	15,436	13,829
Changes in:
Prepaid expenses and other current assets	(448,959)	(488,719)
Lease liability	(4,639)	(4,378)
Accounts payable and accrued liabilities	(1,784,695)	1,426,102
Cash used in operating activities	(13,361,641)	(7,183,670)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant & equipment	(21,633)
Cash used in investing activities	(21,633)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of warrants, net of issuance costs (Note 2)	43,849,467	3
Cash provided by financing activities	43,849,467	3
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	30,466,193	(7,183,667)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	9,564,988	19,866,358
CASH AND CASH EQUIVALENTS AT END OF PERIOD	40,031,181	$ 12,682,691
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Settlement of warrants to equity	4,800,000
Conversion of preferred stock to common stock	$ 31,758,346

NATURE OF BUSINESS AND ORGANIZA

NATURE OF BUSINESS AND ORGANIZATION	3 Months Ended
NATURE OF BUSINESS AND ORGANIZATION	Mar. 31, 2024
NATURE OF BUSINESS AND ORGANIZATION
NATURE OF BUSINESS AND ORGANIZATION	1. NATURE OF BUSINESS AND ORGANIZATION Cellectar Biosciences, Inc. (the Company) is a late-stage clinical biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer, leveraging the Company’s proprietary phospholipid drug conjugate™ (PDC™) delivery platform that specifically targets cancer cells and delivers improved efficacy and better safety as a result of fewer off-target effects. The accompanying Restated Condensed Consolidated Balance Sheet as of December 31, 2023 has been derived from the Company’s audited financial statements as presented in the Company’s amended Form 10-K/A as filed with the SEC on October 29, 2024. The accompanying Restated Condensed Consolidated Balance Sheet as of March 31, 2024, and the Restated Condensed Consolidated Statements of Operations, Cash Flows, and the Restated Consolidated Statements of Convertible Preferred Stock and Stockholders’ Equity for the three months ended March 31, 2024 and 2023, and the related interim information contained within the Notes to the Restated Condensed Consolidated Financial Statements, have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions, rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information. Accordingly, they do not include all the information and the notes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments which are of a nature necessary for the fair presentation of the Company’s consolidated financial position as of March 31, 2024, and consolidated results of its operations, cash flows, and stockholders’ equity for the three months ended March 31, 2024 and 2023. The results for the three months ended March 31, 2024, are not necessarily indicative of future results. Going Concern To fund its research, development, and approval efforts, the Company has been heavily dependent on funding from private investors and public stockholders since its inception through the issuance of securities, such as common stock, convertible preferred stock, and warrants (outside capital). The Company expects to remain heavily dependent on outside capital to fund the Company’s operations for the foreseeable future until such time that one or more of its product candidates are approved and successfully commercialized in the marketplace. While management believes additional outside capital will be secured as needed, no assurance can be provided that additional outside capital will be secured or secured on terms that are acceptable to the Company. As of the date the accompanying consolidated financial statements were issued (the “issuance date”), the Company’s available liquidity to fund the Company’s operations over the next twelve months beyond the issuance date was limited to approximately $34.3 million of unrestricted cash and cash equivalents. Absent further action taken by management to increase its liquidity the Company may be unable to fund its operations under normal course beyond the second quarter of 2025. To improve the Company’s liquidity, management plans to secure additional outside capital via the sale of equity and/or debt securities or execute a strategic transaction. Management also plans to preserve liquidity, as needed, by implementing temporary cost saving measures. While management believes their plans will be successful, no assurance can be provided such plans will be effectively implemented over the next twelve months beyond the issuance date. In the event management’s plans are not effectively implemented, the Company will be required to seek other alternatives which may include, among others, the sale of assets, discontinuance of certain operations, a wind-down of operations and return of capital to stockholders, and/or filing for bankruptcy protection. These uncertainties raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements have been prepared on the basis that the Company will continue to operate as a going concern, which contemplates it will be able to realize assets and settle liabilities and commitments in the normal course of business for the foreseeable future. Accordingly, the accompanying consolidated financial statements do not include any adjustments that may result from the outcome of these uncertainties. These unaudited condensed consolidated financial statements should be read in conjunction with the audited restated consolidated financial statements and related notes thereto included in the Company’s Form 10-K/A for the fiscal year ended December 31, 2023, which was filed with the SEC on October 29, 2024. Principles of Consolidation Use of Estimates Property, Plant & Equipment Right-of-Use (ROU) Asset and Lease Liabilities Stock-Based Compensation Research and Development Income Taxes Fair Value of Financial Instruments Warrants Preferred Stock Concentration of Credit Risk Government Assistance During the three months ended March 31, 2024, the Company received approximately $324,000 in NCI grant funding under the grants described above, all of which was reported as a reduction of research and development (R&D) expenses. During the twelve months ended December 31, 2023, the Company received approximately $1,759,000 in NCI grant funding under the grants described above, all of which was reported as a reduction of research and development (R&D) expenses. Prior Presentation Recently Accounting Pronouncements Not Yet Adopted — In December 2023, the FASB issued Accounting Standards Update (ASU) No. 2023-09, Income Taxes (Topic 740)—Improvements to Income Tax Disclosures, which is intended to enhance the transparency and decision usefulness of income tax disclosures. Public business entities are required to adopt this standard for annual fiscal periods beginning after December 15, 2024, and early adoption is permitted. The Company is evaluating the impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. The Company evaluates all ASUs issued by the FASB for consideration of their applicability to the financial statements. The Company has assessed all ASUs issued but not yet adopted and concluded that those not disclosed are not relevant to the Company or are not expected to have a material impact. Restatement of Previously Issued Consolidated Financial Statements

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
STOCKHOLDERS' EQUITY	Mar. 31, 2024
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	2. STOCKHOLDERS’ EQUITY September 2023 Private Placement On September 8, 2023, in a private placement with certain institutional investors, the Company issued 1,225 shares of Series E-1 preferred stock, along with Tranche A warrants to purchase 2,205 shares of Series E-3 preferred stock and Tranche B warrants to purchase 1,715 shares of Series E-4 preferred stock. Shares of Series E preferred stock were issued at a fixed price of $20,000 per share, resulting in gross proceeds of $24.5 million and net proceeds of approximately $22.2 million after placement agent fees and other customary expenses. The conversion prices for the preferred stock are as follows: for the Series E-1 or E-2 preferred stock, $1.82 per share of common stock, or a total of 13,461,538 shares of common stock; for the Series E-3 preferred stock, $3.185 per share of common stock, or a total of 13,846,154 shares of common stock; and for the Series E-4 preferred stock, $4.7775 per share of common stock, or a total of 7,179,487 shares of common stock, in each case subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization. The warrants are exercisable as follows: ● Tranche A warrants, for an aggregate exercise price of $44.1 million, exercisable for Series E-3 preferred stock until the earlier of September 6, 2026, or 10 trading days after the Company’s announcement of positive topline data from the Waldenstrom’s macroglobulinemia CLOVER WaM pivotal trial; and, ● Tranche B warrants, for an aggregate exercise price of $34.3 million, exercisable for Series E-4 preferred stock until the earlier of September 6, 2028, or 10 days following the Company’s public announcement of its receipt of written approval from the FDA of its New Drug Application for iopofosine I 131. As of December 31, 2023, the Tranche A and Tranche B warrants did not qualify as derivatives; however, they did not meet the requirements necessary to be considered indexable in the Company’s stock. As a result, and in accordance with the guidance in FASB ASC 815, the warrants were deemed to be liabilities. As of March 31, 2024, after the settlement of the Tranche A warrants, the Tranche B warrants do not qualify as derivatives and meet the requirements necessary to be considered indexable in the Company’s stock. However, due to a cash settlement feature that requires cash settlement in event of a fundamental transaction that is outside the Company’s control, resulting in a form of settlement inconsistent with that which would be received by other security holders, the warrants do not qualify for equity classification in accordance with the guidance in ASC 815; therefore, the Tranche B warrants continue to be deemed liabilities. All such liabilities are required to be presented at fair value, with changes reflected in financial results for the period. See Note 3 for the related valuation. When issued, the Series E-1 preferred stock had a redemption feature; therefore, it was classified as mezzanine equity as of September 30, 2023. The Series E-1 preferred stock also had a liquidation preference, which was calculated as an amount per share equal to the greater of (i) two times (2X) the Original Per Share Price, together with any declared, unpaid dividends, or (ii) such amount per share as would have been payable had all shares of Series E-1 preferred stock been converted into Common Stock immediately prior to such Liquidation. These features only applied to the Series E-1 preferred stock when it was outstanding; upon stockholder approval of the transaction, which was obtained by the Company at a special meeting of stockholders held on October 25, 2023, the Series E-1 preferred stock immediately converted into either Series E-2 preferred stock and/or common stock, dependent upon the beneficial ownership position of the holder. The net proceeds from the September 2023 Private Placement were allocated first to the fair value of the Tranche A and Tranche B warrants, which had a fair value upon issuance of $4,800,000, with the remainder, or $17,820,000, allocated to the Series E-1 preferred stock. Upon stockholder approval of the transaction, the entire amount that had been assigned to mezzanine equity was reclassified to Series E-2 preferred stock and is a component of permanent equity, as is reflected in the financial statements. As a result of the stockholder approval, Series E-1 preferred stock was fully extinguished in accordance with the terms of the financing. The outstanding shares of Series E-2 preferred stock were classified as permanent equity upon issuance. Series E-2 preferred stock is convertible to common stock at the request of the holder, subject to the holder not exceeding certain beneficial ownership percentages as stipulated in the financing agreement. Subsequent to the issuance of the Series E-2 preferred stock and prior to December 31, 2023, preferred holders converted 905.24 shares of preferred stock into 9,947,684 shares of common stock at the stated rate of $1.82 per common share, resulting in 319.76 shares of Series E-2 preferred stock outstanding as of December 31, 2023. During the quarter ended March 31, 2024, 82.26 shares of Series E-2 preferred stock were converted into 903,956 shares of common stock. There remain 237.50 shares of Series E-2 preferred stock outstanding as of March 31, 2024. In January 2024, the Company released topline data from its pivotal, Phase 2b CLOVER WaM trial. In accordance with the terms of the Tranche A warrant, the warrants’ expiration accelerated to 10 During the quarter ended March 31, 2024, investors who held 1,575.00 shares of Series E-3 preferred stock converted them into 9,890,099 shares of common stock. There remain 630.00 shares of Series E-3 preferred stock outstanding as of March 31, 2024. October 2022 Public Offering and Private Placement On October 25, 2022, the Company completed a registered direct offering of 3,275,153 shares of the Company’s common stock at $2.085 per share and warrants to purchase up to an aggregate of 3,275,153 shares of common stock in a concurrent private placement priced at-the-market under Nasdaq rules. In a separate concurrent private placement transaction, the Company offered and sold pre-funded warrants to purchase an aggregate of 1,875,945 shares of common stock and warrants to purchase an aggregate of 1,875,945 shares of common stock. The common warrants sold in the registered direct offering and those sold in the private placement have identical terms. These common warrants are immediately exercisable at an exercise price of $1.96 per share and will expire on the fifth anniversary of the closing date. Each pre-funded warrant had a purchase price of $2.08499, is immediately exercisable at an exercise price of $0.00001 per share and will not expire until exercised in full. The registered direct offering and private placements resulted in total gross proceeds of approximately $10.7 million with net proceeds to the Company of approximately $9.6 million after deducting estimated offering expenses. During the three months ended March 31, 2024, 1,079,132 pre-funded warrants, which was the entire amount outstanding, were converted into 1,079,132 shares of common stock, and 547,177 common warrants issued in October 2022 were exercised for net proceeds of approximately $1.1 million. There were no such conversions or exercises in the three months ended March 31, 2023. December 2020 Public Offering and Private Placement On December 23, 2020, the Company issued and sold 1,814,813 shares of common stock, par value $0.00001 per share, at a public offering price of $13.50 per share of common stock, prior to deducting underwriting discounts and commissions and estimated offering expenses. In a concurrent private placement, the Company issued and sold 1,518.5180 shares of Series D convertible preferred stock. These preferred shares are convertible into a number of shares of common stock equal to $13,500 divided by $13.50 (or 1,000 shares of common stock for each share of Series D preferred stock) and were issued at a price of $13,500 per share of Series D preferred stock. The preferred shares were only convertible into common stock upon receipt of stockholder approval of the issuance of the underlying shares of common stock as required by Nasdaq Marketplace Rule 5635(d) at a special stockholder meeting to be called for that purpose. At a special meeting of stockholders held on February 25, 2021, the stockholders approved, in accordance with Nasdaq Listing Rule 5635(d), the issuance of shares of the Company’s common stock upon the conversion of the Series D preferred stock. Authorized Share Increase At a special meeting of stockholders held on October 25, 2023, the Company’s stockholders approved an amendment of the Company’s Second Amended and Restated Certificate of Incorporation, as amended, to increase the authorized common stock from 160,000,000 shares to 170,000,000 shares. Warrants The following table summarizes information regarding outstanding warrants to purchase stock as of March 31, 2024: Number of Shares Issuable Upon Exercise of Outstanding Exercise Offering Warrants Price Expiration Date 2023 Tranche B Preferred Warrants 7,179,492 $ 4.7775 September 8, 2028 2022 Common Warrants 4,201,044 $ 1.96 October 25, 2027 June 2020 Series H Common Warrants 720,796 $ 12.075 June 5, 2025 May 2019 Series F Common Warrants 195,700 $ 24.00 May 20, 2024 May 2019 Series G Common Warrants 201,800 $ 24.00 May 20, 2024 October 2017 Series D Common Warrants 31,085 $ 178.00 October 14, 2024 Total 12,529,916 All warrants in the table above are liability-classified.

FAIR VALUE

FAIR VALUE	3 Months Ended
FAIR VALUE	Mar. 31, 2024
FAIR VALUE
FAIR VALUE	3. FAIR VALUE In accordance with the Fair Value Measurements and Disclosures Topic of ASC 820, the Company groups its financial assets and financial liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded, and the reliability of the assumptions used to determine fair value: ● Level 1: Input prices quoted in an active market for identical financial assets or liabilities. ● Level 2: Inputs other than prices quoted in Level 1, such as prices quoted for similar financial assets and liabilities in active markets, prices for identical assets, and liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data. ● Level 3: Input prices quoted that are significant to the fair value of the financial assets or liabilities which are not observable or supported by an active market. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The carrying value of cash and cash equivalents approximates fair value as maturities are less than three months. The carrying amounts reported for other current financial assets and liabilities approximate fair value because of their short-term nature. As of March 31, 2024, the Company does not have any Level 1 or Level 2 As part of the September 2023 financing (see Note 2) the Company issued Tranche A and Tranche B warrants to purchase shares of preferred stock which, on an as-converted basis, represented an aggregate of 21,025,641 shares of common stock. The fair value of the Tranche A and B warrants was determined using a probability-weighted expected return method (PWERM) with a scenario-based Monte Carlo simulation and Black-Scholes model. The PWERM is a scenario-based methodology that estimates the fair value of the Company’s different classes of equity based upon an analysis of future values for the Company, assuming various outcomes. Under both models, assumptions and estimates are used to value the preferred stock warrants. The Company assesses these assumptions and estimates on a quarterly basis as additional information that impacts the assumptions is obtained. The quantitative elements associated with the inputs impacting the fair value measurement of the Tranche A and B warrants include the value per share of the underlying common stock, the timing, form and overall value of the expected exits for the stockholders, the risk-free interest rate, the expected dividend yield and the expected volatility of the Company’s shares. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve for time periods approximately equal to the remaining contractual term of the warrants. The Company estimated a 0% dividend yield based on the expected dividend yield and the fact that the Company has never paid or declared cash dividends. Expected volatility was determined based upon the historical volatility of the Company’s common stock. The Tranche A and B warrants are classified within the Level 3 hierarchy because of the nature of these inputs and the valuation technique utilized. The September 2023 Warrants had a fair value of $8,800,000 and $4,200,000 as of March 31, 2024 and December 31, 2023, respectively, which is included in the warrant liability caption on the accompanying balance sheets. The following table summarizes the modified option-pricing assumptions used on December 31, 2023, and March 31, 2024: December 31 March 31 Volatility 82.0-83.0 % 84.0-85.0 % Risk-free interest rate 3.80-5.40 % 4.26 % Expected life (years) 0.3-4.7 1.0-4.4 Dividend 0 % 0 % At the time the Tranche A warrants were exercised, their fair value, calculated as the difference between the common stock conversion rate in the Series E-3 preferred stock and the trading price of the stock when the warrants were exercised, was determined to be $4,800,000. Due to the settlement of the Tranche A warrants relieving the Company of any further related obligation, the liability was reclassified to equity in accordance with ASC 815. The Tranche B warrants continue to be classified as a liability due to a cash settlement feature in the agreement. In October 2022 the Company issued a total of 5,151,098 common warrants that are immediately exercisable with a five-year life and a strike price of $1.96 for shares of common stock (the 2022 Common Warrants), and 1,875,941 pre-funded warrants (the 2022 Pre-Funded Warrants) to acquire shares of common stock (see Note 6). The 2022 Pre-Funded Warrants are exercisable by the holder upon payment of the par value of the common stock and are classified as Level 2 liabilities as their value is equal to the Company’s common stock value less the par value of $0.00001 per share. As noted above, the Pre-Funded Warrants were fully exercised by March 31, 2024. The fair value of the 2022 Common Warrants was determined by utilizing a Black-Scholes option-pricing model. The quantitative elements associated with the inputs impacting the fair value measurement of the 2022 Common Warrants include the value per share of the underlying common stock, the risk-free interest rate, the expected dividend yield and the expected volatility of the Company’s shares. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve for time periods approximately equal to the remaining contractual term of the warrants. The Company estimated a 0% dividend yield based on the expected dividend yield and the fact that the Company has never paid or declared cash dividends. Expected volatility was determined based upon the historical volatility of the Company’s common stock. These warrants are classified within the Level 3 hierarchy because of the nature of these inputs and the valuation technique utilized. The following table summarizes the assumptions used at each financial reporting date: March 31, 2024 December 31, 2023 Volatility 80.2 % 83.3 % Risk-free interest rate 4.21 % 3.84 % Expected life (years) 3.6 3.8 Dividend 0 % 0 % The following table summarizes the changes in the fair market value of the warrants which are classified within the Level 3 fair value hierarchy, inclusive of the September 2023 Warrants and the October 2022 Warrants: Level 3 Fair value of Level 3 liabilities as of December 31, 2023 $ 13,131,691 Settlement of 2023 Tranche A Warrants to equity (4,800,000) Change in warrant fair value 13,977,013 Exercise of October 2022 Warrants (1,225,676) Fair value of Level 3 liabilities as of March 31, 2024 $ 21,083,028

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
STOCK-BASED COMPENSATION	Mar. 31, 2024
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	4. STOCK-BASED COMPENSATION Accounting for Stock-Based Compensation 2021 Stock Incentive Plan The Company maintains the 2021 Stock Incentive Plan (the “2021 Plan”). The Company utilizes stock-based compensation incentives as a component of its employee and non-employee director and officer compensation philosophy. A committee of the Board of Directors determines the terms of the awards granted and may grant various forms of equity-based incentive compensation. Currently, these incentives consist principally of stock options and restricted shares. All outstanding awards under the 2015 Stock Incentive Plan (the “2015 Plan”) remained in effect according to the terms of the 2015 Plan. Any shares that are currently available under the 2015 Plan and any shares underlying 2015 Plan awards which are forfeited, cancelled, reacquired by the Company or otherwise terminated are added to the shares available for grant under the 2021 Plan. Under the current stock option award program, all options become exercisable between one and three years after issuance and expire after ten years. The fair value of each stock option award is estimated on the grant date using the Black-Scholes option-pricing model. Volatility is based on the Company’s historical common stock volatility. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time. The expected term of stock options granted is based on an estimate of when options will be exercised in the future. Forfeitures are recorded as they occur. No dividends have been recorded historically. At the annual meeting of stockholders held on June 23, 2023, the Company’s stockholders approved an increase in the number of shares of common stock available for issuance under the 2021 Stock Incentive Plan by 1,100,000 to 2,368,000. The following table summarizes amounts charged to expense for stock-based compensation related to employee and director stock option grants: Three Months Ended March 31, 2024 2023 Employee and director stock option grants: Research and development $ 68,776 $ 66,195 General and administrative 385,587 342,011 Total stock-based compensation $ 454,363 $ 408,206 In December 2023, the Company granted 2,776,000 contingent, non-statutory stock option awards at an exercise price of $2.65 per share to employees and directors, and in March 2024 the Company granted 200,000 contingent, non-statutory stock option awards at an exercise price of $3.63 and $3.35 per share to our employees. Each of these grants is contingent on approval of an increase in the shares available in the 2021 Stock Incentive Plan that is to be voted on by the stockholders at the annual meeting of stockholders expected to be held in June 2024. Until such time that the contingent non-statutory stock option awards are approved by stockholders, no expense will be recognized by the Company. Assumptions Used in Determining Fair Value Valuation and amortization method Volatility. Risk-free interest rate. Expected term. Forfeitures. Dividends. Exercise prices for all grants made during the three months ended March 31, 2024 and March 31, 2023, were equal to the market value of the Company’s common stock on the date of grant.

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2024
INCOME TAXES
INCOME TAXES	5. INCOME TAXES The Company accounts for income taxes in accordance with the liability method of accounting. Deferred tax assets or liabilities are computed based on the difference between the financial statement and income tax basis of assets and liabilities, and net operating loss carryforwards (“NOLs”), using the enacted tax rates. Deferred income tax expense or benefit is based on changes in the asset or liability from period to period. The Company did not record a provision or benefit for federal, state or foreign income taxes for the three months ended March 31, 2024 or 2023 because the Company has experienced losses on a tax basis since inception. Because of the continuing losses and uncertainty associated with the utilization of the NOLs in the future, management has provided a full allowance against the value of its gross deferred tax assets. The Company also accounts for the uncertainty in income taxes related to the recognition and measurement of a tax position taken or expected to be taken in an income tax return. The Company follows the applicable accounting guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition related to the uncertainty in income tax positions. No uncertain tax positions have been identified.

NET LOSS PER SHARE

NET LOSS PER SHARE	3 Months Ended
NET LOSS PER SHARE	Mar. 31, 2024
NET LOSS PER SHARE
NET LOSS PER SHARE	6. NET LOSS PER SHARE Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock and pre-funded warrants outstanding during the period. The pre-funded warrants are considered common shares outstanding for the purposes of the basic net loss per share calculation due to the nominal cash consideration and lack of other contingencies for issuance of the underlying common shares. Diluted net loss attributable to common stockholders per share is computed by dividing net loss attributable to common stockholders, as adjusted, by the sum of the weighted average number of shares of common stock and the dilutive potential common stock equivalents then outstanding. Potential common stock equivalents consist of stock options, warrants, and convertible preferred shares. Since there is a net loss attributable to common stockholders for the three months ended March 31, 2024 and 2023, the inclusion of common stock equivalents in the computation for those periods would be antidilutive. Accordingly, basic and diluted net loss per share is the same for all periods presented. The following potentially dilutive securities have been excluded from the computation of diluted net loss per share since their inclusion would be antidilutive: Three Months Ended March 31, 2024 2023 Warrants 12,529,916 6,714,479 Preferred shares as convertible into common stock 6,677,045 111,111 Stock options 2,348,624 1,478,756 Total potentially dilutive shares 21,555,585 8,304,346

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2024
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	7. COMMITMENTS AND CONTINGENCIES Legal The Company may be involved in legal matters and disputes in the ordinary course of business. It is not anticipated that the outcome of such matters and disputes will materially affect the Company’s financial statements.

LEASES

LEASES	3 Months Ended
LEASES	Mar. 31, 2024
LEASES
LEASES	8. LEASES Operating Lease Liability In June 2018, the Company executed an agreement for office space in the Borough of Florham Park, Morris County, New Jersey to be used as its headquarters (HQ Lease). The HQ Lease commenced upon completion of certain improvements in October 2018. On December 30, 2022, the Company entered into an Amended Agreement of Lease with CAMPUS 100 LLC (the “Landlord”). Under the Amended Lease, which was accounted for as a modification of the initial lease, the Company will continue to lease 3,983 square feet of rentable area on the second floor of a building located at 100 Campus Drive in Florham Park, New Jersey, commencing on March 1, 2023, until April 30, 2029. The Company also has an option to extend the term of the Amended Lease for one additional 60-month period. Under the terms of the Amended Lease, the Company’s previously paid security deposit of $75,000 will be reduced to $23,566, and the aggregate rent due over the term of the Amended Lease is approximately $918,000, which will be reduced to approximately $893,000 after certain rent abatements. The Company will also be required to pay its proportionate share of certain operating expenses and real estate taxes applicable to the leased premises. After rent abatements, the rent is approximately $11,800 per month for the first year and then escalates thereafter by 2% per year for the duration of the term. The Company has not entered into any leases with related parties. Discount Rate The Company has determined an appropriate interest rate to be used in evaluating the present value of the Amended Lease liability considering factors such as the Company’s credit rating, borrowing terms offered by the U.S. Small Business Administration, amount of lease payments, quality of collateral and alignment of the borrowing term and lease term. The Company considers 14% per annum as reasonable to use as the incremental borrowing rate for the purpose of calculating the liability under the Amended Lease. In conjunction with the June 2018 lease, the Company had previously used a 10% per annum incremental borrowing rate. Maturity Analysis of Short-Term and Operating Leases The following table approximates the dollar maturity of the Company’s undiscounted payments for its short-term leases and operating lease liabilities as of March 31, 2024: Years ending March 31, Remaining period of 2024 $ 108,000 2025 146,000 2026 150,000 2027 153,000 2028 155,000 Thereafter 53,000 Total undiscounted lease payments 765,000 Less: Imputed interest (217,000) Present value of lease liabilities $ 548,000

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
SUBSEQUENT EVENT	Mar. 31, 2024
SUBSEQUENT EVENT
SUBSEQUENT EVENT	9. SUBSEQUENT EVENT On July 21, 2024, the Company entered into a warrant exercise inducement with certain holders of its 2023 Tranche B warrants. The warrant holders agreed to exercise their existing warrants to purchase an amount of shares of the Company’s Series E-4 Preferred Stock, which is convertible to 6,739,918 shares of the Company’s common stock in the aggregate, at a reduced, as-converted common stock exercise price of $2.52 per share, in exchange for the Company’s agreement to issue new warrants with varying termination dates and exercise prices. The Company received gross proceeds of $19.4 million and net proceeds of $17.5 million.

RESTATEMENT OF PREVIOUSLY ISSUE

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	3 Months Ended
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	Mar. 31, 2024
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS.
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	10. RESTATEMENT OF PREVIOUSLY ISSUED QUARTERLY FINANCIAL STATEMENTS (Unaudited) As described in Note 1 and detailed below, in July 2024 the Company determined that it was necessary to re-evaluate its accounting treatment for certain previously issued warrants and preferred stock. The Company identified five areas where the historical accounting treatment applied to previously issued warrants and preferred stock required modification: 1. Contractual terms contained within the agreements governing the warrants issued to its investors in prior periods required further evaluation under Topic 815. After consultation with external advisors and completing an extensive review process, management concluded that the classification of certain previously issued warrants as equity was not consistent with Topic 815 and has restated them as liabilities. This also results in the requirement to account for the change in the fair value of the liability classified warrants through the Consolidated Statements of Operations at each reporting date they remain outstanding. 2. Upon the issuance of the Series E Preferred Stock, the contractual language required the 2022 Pre-Funded Warrants be corrected from equity to liability. 3. The Series D Preferred Stock issued in 2020 was determined to be temporary, or mezzanine equity upon issuance and was so recorded. 4. The accounting treatment for the Tranche A and B warrants issued as part of the September 2023 financing (See Note 2) continues to be appropriate; however, as part of the work performed for the restatement, the warrant valuation was adjusted to correct prior errors in the valuation. 5. Certain operating costs previously recorded as research and development expenses were corrected to general and administrative expenses. The impact on the condensed consolidated financial statements is as follows (lettered for reference to the financial statement adjustments): A. All the outstanding common warrants were corrected from permanent equity to Warrant Liability, and the Series D Preferred Stock was corrected from permanent equity to Mezzanine Equity as of December 31, 2021. B. The settlement of the Tranche A warrants exercised in the first quarter of 2024 was corrected to be an adjustment to the value of the Series E-3 preferred stock. C. After the issuance of the Series E Preferred in September 2023, the 2022 Pre-Funded Warrants were corrected from Additional Paid-In Capital to Warrant Liability. D. At each reporting period the warrants accounted for as liabilities were marked to market with the adjustment reflected in Other Income (Expense). E. Certain operating costs previously recorded as research and development expenses were corrected to general and administrative expenses. F. Adjusted the balance sheet as of December 31, 2021 by reducing additional paid-in capital and increasing accumulated deficit by $25,300,000 which was the change from the initial fair value amount of the warrants issued in 2017, 2018 and 2020 through December 31, 2021. Below are the Company’s restated condensed consolidated balance sheets as of March 31, 2024, and the restated condensed consolidated statements of operations, consolidated statement of convertible preferred stock and stockholders’ equity, and condensed statements of cash flows, with adjustments, for the three months ended March 31, 2024. CELLECTAR BIOSCIENCES, INC. RESTATED CONSOLIDATED BALANCE SHEETS March 31, 2024 As Previously Restatement Reported Adjustments Reference As Restated ASSETS CURRENT ASSETS: Cash and cash equivalents $ 40,031,181 $ — $ 40,031,181 Prepaid expenses and other current assets 1,337,184 — 1,337,184 Total current assets 41,368,365 — 41,368,365 Property, plant & equipment, net 1,023,447 — 1,023,447 Operating lease right-of-use asset 486,847 — 486,847 Other long-term assets 29,780 — 29,780 TOTAL ASSETS $ 42,908,439 $ — $ 42,908,439 LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY CURRENT LIABILITIES: Accounts payable and accrued liabilities $ 7,393,950 $ — $ 7,393,950 Warrant liability 8,800,000 12,283,028 A, C 21,083,028 Lease liability, current 73,994 — 73,994 Total current liabilities 16,267,944 12,283,028 28,550,972 Lease liability, net of current portion 474,349 — 474,349 TOTAL LIABILITIES 16,742,293 12,283,028 29,025,321 COMMITMENTS AND CONTINGENCIES (Note 10) MEZZANINE EQUITY: Series D preferred stock, 111.11 shares authorized, issued outstanding — 1,382,023 A 1,382,023 STOCKHOLDERS’ (DEFICIT) EQUITY: Series D preferred stock, 111.11 shares authorized, issued 1,382,023 (1,382,023) A — Series E-2 preferred stock, 1,225.00 shares authorized; 237.50 shares issued and outstanding as of March 31, 2024 3,474,286 — 3,474,286 Series E-3 preferred stock, 2,205.00 shares authorized; 630.00 shares issued and outstanding as of March 31, 2024 12,222,000 1,371,429 13,593,429 Common stock, $0.00001 par value; 170,000,000 shares authorized; 33,164,466 shares issued and outstanding as of March 31 2024 332 — 332 Additional paid-in capital 248,151,681 (23,315,633) A, C 224,836,048 Accumulated deficit (239,064,176) 9,661,176 B, D, F (229,403,000) Total stockholders’ (deficit) equity 26,166,146 (13,665,051) 12,501,095 TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY $ 42,908,439 $ — $ 42,908,439 CELLECTAR BIOSCIENCES, INC. RESTATED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended March 31, 2024 As Previously Reported Adjustments Reference As Restated OPERATING EXPENSES: Research and development $ 7,377,940 $ (289,898) E $ 7,088,042 General and administrative 4,623,546 289,898 E 4,913,444 Total operating expenses 12,001,486 — 12,001,486 LOSS FROM OPERATIONS (12,001,486) — (12,001,486) OTHER INCOME (EXPENSE): Loss on valuation of warrants (9,900,000) (5,060,346) D (14,960,346) Interest income 319,849 — 319,849 Total other income (expense), net (9,580,151) (5,060,346) (14,640,497) NET LOSS $ (21,581,637) $ (5,060,346) $ (26,641,983) NET LOSS PER SHARE — BASIC AND DILUTED $ (0.74) $ (0.17) $ (0.91) WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING — BASIC AND DILUTED 29,346,679 — 29,346,679 CELLECTAR BIOSCIENCES, INC. RESTATED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) (Unaudited) Series D Preferred Stock Preferred Stock Common Stock Total Par Additional Accumulated Stockholders’ Shares Amount Shares Amount Shares Amount Paid ‑ In Capital Deficit Equity (Deficit) Previously Reported Balance at December 31, 2023 — $ — 430.87 $ 6,059,655 20,744,110 $ 207 $ 210,066,630 $ (217,482,539) $ (1,356,047) Stock-based compensation — — — — — — 454,363 — 454,363 Conversion of pre-funded warrants into common stock — — — — 1,079,132 11 (11) — — Exercise of warrants for preferred stock, net of issuance costs (Note 2) — — 2,205.00 42,777,000 — — — — 42,777,000 Conversion of Series E-3 preferred stock into common stock — — (1,575.00) (30,555,000) 9,890,099 100 30,554,900 — — Exercise of warrants for common stock — — — — 547,177 5 1,072,462 — 1,072,467 Conversion of Series E-2 preferred stock into common stock — — (82.26) (1,203,346) 903,956 9 1,203,337 — — Settlement of warrants to equity (Note 2) — — — — — — 4,800,000 — 4,800,000 Retired shares — — — — (8) — — — — Net loss — — — — — — — (21,581,637) (21,581,637) Balance at March 31, 2024 — $ — 978.61 $ 17,078,309 33,164,466 $ 332 $ 248,151,681 $ (239,064,176) $ 26,166,146 Adjustments Balance at December 31, 2023 111.11 $ 1,382,023 (111.11) $ (1,382,023) — $ — $ (27,142,420) $ 14,721,522 $ (13,802,921) Conversion of pre-funded warrants into common stock (C) — — — — — — 3,972,540 — 3,972,540 Settlement of warrants to equity (B) — — — 4,800,000 — — (4,800,000) — — Conversion of Series E-3 preferred stock into common stock (B) — — — (3,428,571) — — 3,428,571 — — Exercise of warrants for common stock (A) — — — — — — 1,225,676 — 1,225,676 Net loss — — — — — — — (5,060,346) (5,060,346) Balance at March 31, 2024 111.11 $ 1,382,023 (111.11) $ (10,594) — $ — $ (23,315,633) $ 9,661,176 $ (13,665,051) As Restated Balance at December 31, 2023 111.11 $ 1,382,023 319.76 $ 4,677,632 20,744,110 $ 207 $ 182,924,210 $ (202,761,017) $ (15,158,968) Stock-based compensation — — — — — — 454,363 — 454,363 Conversion of pre-funded warrants into common shares — — — — 1,079,132 11 3,972,529 — 3,972,540 Exercise of warrants for preferred stock, net of issuance costs — — 2,205.00 47,577,000 — — — — 47,577,000 Conversion of Series E-3 preferred stock into common stock — — (1,575.00) (33,983,571) 9,890,099 100 33,983,471 — — Exercise of warrants for common stock — — — — 547,177 5 2,298,138 — 2,298,143 Conversion of Series E-2 preferred stock into common stock — — (82.26) (1,203,346) 903,956 9 1,203,337 — — Retired shares — — — — (8) — — — — Net loss — — — — — — — (26,641,983) (26,641,983) Balance at March 31, 2024 111.11 $ 1,382,023 867.50 $ 17,067,715 33,164,466 $ 332 $ 224,836,048 $ (229,403,000) $ 12,501,095 CELLECTAR BIOSCIENCES, INC. RESTATED CONSOLIDATED STATEMENT OF CASH FLOWS Three Months Ended March 31, 2024 As Previously Reported Adjustments Reference As Restated CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (21,581,637) $ (5,060,346) D $ (26,641,983) Adjustments to reconcile net loss to cash used in operating activities: Depreciation and amortization 88,490 — 88,490 Stock-based compensation 454,363 — 454,363 Change in fair value of warrants 9,900,000 5,060,346 D 14,960,346 Change in operating lease right-of-use asset 15,436 — 15,436 Changes in: Prepaid expenses and other assets (448,959) — (448,959) Lease liability (4,639) — (4,639) Accounts payable and accrued liabilities (1,784,695) — (1,784,695) Cash used in operating activities (13,361,641) — (13,361,641) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property, plant & equipment (21,633) — (21,633) Cash used in investing activities (21,633) — (21,633) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercise of warrants, net of issuance costs (Note 2) 43,849,467 — 43,849,467 Cash provided by financing activities 43,849,467 — 43,849,467 INCREASE IN CASH AND CASH EQUIVALENTS 30,466,193 — 30,466,193 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 9,564,988 — 9,564,988 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 40,031,181 $ — $ 40,031,181 Settlement of warrants to equity $ 4,800,000 $ — $ 4,800,000 Conversion of preferred stock to common stock $ 31,758,346 $ — $ 31,758,346

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended
Pay vs Performance Disclosure - USD ($)	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (26,641,983)	$ (7,190,470)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

NATURE OF BUSINESS AND ORGANI_2

NATURE OF BUSINESS AND ORGANIZATION (Policies)	3 Months Ended
NATURE OF BUSINESS AND ORGANIZATION (Policies)	Mar. 31, 2024
NATURE OF BUSINESS AND ORGANIZATION
Going Concern	Going Concern To fund its research, development, and approval efforts, the Company has been heavily dependent on funding from private investors and public stockholders since its inception through the issuance of securities, such as common stock, convertible preferred stock, and warrants (outside capital). The Company expects to remain heavily dependent on outside capital to fund the Company’s operations for the foreseeable future until such time that one or more of its product candidates are approved and successfully commercialized in the marketplace. While management believes additional outside capital will be secured as needed, no assurance can be provided that additional outside capital will be secured or secured on terms that are acceptable to the Company. As of the date the accompanying consolidated financial statements were issued (the “issuance date”), the Company’s available liquidity to fund the Company’s operations over the next twelve months beyond the issuance date was limited to approximately $34.3 million of unrestricted cash and cash equivalents. Absent further action taken by management to increase its liquidity the Company may be unable to fund its operations under normal course beyond the second quarter of 2025. To improve the Company’s liquidity, management plans to secure additional outside capital via the sale of equity and/or debt securities or execute a strategic transaction. Management also plans to preserve liquidity, as needed, by implementing temporary cost saving measures. While management believes their plans will be successful, no assurance can be provided such plans will be effectively implemented over the next twelve months beyond the issuance date. In the event management’s plans are not effectively implemented, the Company will be required to seek other alternatives which may include, among others, the sale of assets, discontinuance of certain operations, a wind-down of operations and return of capital to stockholders, and/or filing for bankruptcy protection. These uncertainties raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements have been prepared on the basis that the Company will continue to operate as a going concern, which contemplates it will be able to realize assets and settle liabilities and commitments in the normal course of business for the foreseeable future. Accordingly, the accompanying consolidated financial statements do not include any adjustments that may result from the outcome of these uncertainties. These unaudited condensed consolidated financial statements should be read in conjunction with the audited restated consolidated financial statements and related notes thereto included in the Company’s Form 10-K/A for the fiscal year ended December 31, 2023, which was filed with the SEC on October 29, 2024.
Principles of Consolidation	Principles of Consolidation
Use of Estimates	Use of Estimates
Property, Plant Equipment	Property, Plant & Equipment
Right-of-Use (ROU) Asset and Lease Liabilities	Right-of-Use (ROU) Asset and Lease Liabilities
Stock-Based Compensation	Stock-Based Compensation
Research and Development	Research and Development
Income Taxes	Income Taxes
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Warrants	Warrants
Preferred Stock	Preferred Stock
Concentration of Credit Risk	Concentration of Credit Risk
Government Assistance	Government Assistance During the three months ended March 31, 2024, the Company received approximately $324,000 in NCI grant funding under the grants described above, all of which was reported as a reduction of research and development (R&D) expenses. During the twelve months ended December 31, 2023, the Company received approximately $1,759,000 in NCI grant funding under the grants described above, all of which was reported as a reduction of research and development (R&D) expenses.
Prior Presentation	Prior Presentation
Recently Accounting Pronouncements Not Yet Adopted	Recently Accounting Pronouncements Not Yet Adopted — In December 2023, the FASB issued Accounting Standards Update (ASU) No. 2023-09, Income Taxes (Topic 740)—Improvements to Income Tax Disclosures, which is intended to enhance the transparency and decision usefulness of income tax disclosures. Public business entities are required to adopt this standard for annual fiscal periods beginning after December 15, 2024, and early adoption is permitted. The Company is evaluating the impact the adoption of this guidance will have on its consolidated financial statements and related disclosures. The Company evaluates all ASUs issued by the FASB for consideration of their applicability to the financial statements. The Company has assessed all ASUs issued but not yet adopted and concluded that those not disclosed are not relevant to the Company or are not expected to have a material impact.
Restatement of Previously Issued Consolidated Financial Statements	Restatement of Previously Issued Consolidated Financial Statements

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
STOCKHOLDERS' EQUITY (Tables)	Mar. 31, 2024
STOCKHOLDERS' EQUITY
Summary of outstanding warrants to purchase stock	Number of Shares Issuable Upon Exercise of Outstanding Exercise Offering Warrants Price Expiration Date 2023 Tranche B Preferred Warrants 7,179,492 $ 4.7775 September 8, 2028 2022 Common Warrants 4,201,044 $ 1.96 October 25, 2027 June 2020 Series H Common Warrants 720,796 $ 12.075 June 5, 2025 May 2019 Series F Common Warrants 195,700 $ 24.00 May 20, 2024 May 2019 Series G Common Warrants 201,800 $ 24.00 May 20, 2024 October 2017 Series D Common Warrants 31,085 $ 178.00 October 14, 2024 Total 12,529,916

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
FAIR VALUE (Tables)	Mar. 31, 2024
FAIR VALUE
Schedule of modified option pricing assumptions and assumptions used upon issuance	December 31 March 31 Volatility 82.0-83.0 % 84.0-85.0 % Risk-free interest rate 3.80-5.40 % 4.26 % Expected life (years) 0.3-4.7 1.0-4.4 Dividend 0 % 0 % March 31, 2024 December 31, 2023 Volatility 80.2 % 83.3 % Risk-free interest rate 4.21 % 3.84 % Expected life (years) 3.6 3.8 Dividend 0 % 0 %
Schedule of changes in the fair market value of the warrants	Level 3 Fair value of Level 3 liabilities as of December 31, 2023 $ 13,131,691 Settlement of 2023 Tranche A Warrants to equity (4,800,000) Change in warrant fair value 13,977,013 Exercise of October 2022 Warrants (1,225,676) Fair value of Level 3 liabilities as of March 31, 2024 $ 21,083,028

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
STOCK-BASED COMPENSATION (Tables)	Mar. 31, 2024
STOCK-BASED COMPENSATION
Summary of the expense for stock-based compensation related to stock option grants	Three Months Ended March 31, 2024 2023 Employee and director stock option grants: Research and development $ 68,776 $ 66,195 General and administrative 385,587 342,011 Total stock-based compensation $ 454,363 $ 408,206

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	3 Months Ended
NET LOSS PER SHARE (Tables)	Mar. 31, 2024
NET LOSS PER SHARE
Schedule of dilutive securities have been excluded from the computation of diluted net loss per share	Three Months Ended March 31, 2024 2023 Warrants 12,529,916 6,714,479 Preferred shares as convertible into common stock 6,677,045 111,111 Stock options 2,348,624 1,478,756 Total potentially dilutive shares 21,555,585 8,304,346

LEASES (Tables)

LEASES (Tables)	3 Months Ended
LEASES (Tables)	Mar. 31, 2024
LEASES
Schedule of the company's undiscounted payments for its short-term leases and operating lease liabilities	Years ending March 31, Remaining period of 2024 $ 108,000 2025 146,000 2026 150,000 2027 153,000 2028 155,000 Thereafter 53,000 Total undiscounted lease payments 765,000 Less: Imputed interest (217,000) Present value of lease liabilities $ 548,000

RESTATEMENT OF PREVIOUSLY ISS_2

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS.
Schedule of restatement of previously issued financial statement	March 31, 2024 As Previously Restatement Reported Adjustments Reference As Restated ASSETS CURRENT ASSETS: Cash and cash equivalents $ 40,031,181 $ — $ 40,031,181 Prepaid expenses and other current assets 1,337,184 — 1,337,184 Total current assets 41,368,365 — 41,368,365 Property, plant & equipment, net 1,023,447 — 1,023,447 Operating lease right-of-use asset 486,847 — 486,847 Other long-term assets 29,780 — 29,780 TOTAL ASSETS $ 42,908,439 $ — $ 42,908,439 LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY CURRENT LIABILITIES: Accounts payable and accrued liabilities $ 7,393,950 $ — $ 7,393,950 Warrant liability 8,800,000 12,283,028 A, C 21,083,028 Lease liability, current 73,994 — 73,994 Total current liabilities 16,267,944 12,283,028 28,550,972 Lease liability, net of current portion 474,349 — 474,349 TOTAL LIABILITIES 16,742,293 12,283,028 29,025,321 COMMITMENTS AND CONTINGENCIES (Note 10) MEZZANINE EQUITY: Series D preferred stock, 111.11 shares authorized, issued outstanding — 1,382,023 A 1,382,023 STOCKHOLDERS’ (DEFICIT) EQUITY: Series D preferred stock, 111.11 shares authorized, issued 1,382,023 (1,382,023) A — Series E-2 preferred stock, 1,225.00 shares authorized; 237.50 shares issued and outstanding as of March 31, 2024 3,474,286 — 3,474,286 Series E-3 preferred stock, 2,205.00 shares authorized; 630.00 shares issued and outstanding as of March 31, 2024 12,222,000 1,371,429 13,593,429 Common stock, $0.00001 par value; 170,000,000 shares authorized; 33,164,466 shares issued and outstanding as of March 31 2024 332 — 332 Additional paid-in capital 248,151,681 (23,315,633) A, C 224,836,048 Accumulated deficit (239,064,176) 9,661,176 B, D, F (229,403,000) Total stockholders’ (deficit) equity 26,166,146 (13,665,051) 12,501,095 TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY $ 42,908,439 $ — $ 42,908,439 Three Months Ended March 31, 2024 As Previously Reported Adjustments Reference As Restated OPERATING EXPENSES: Research and development $ 7,377,940 $ (289,898) E $ 7,088,042 General and administrative 4,623,546 289,898 E 4,913,444 Total operating expenses 12,001,486 — 12,001,486 LOSS FROM OPERATIONS (12,001,486) — (12,001,486) OTHER INCOME (EXPENSE): Loss on valuation of warrants (9,900,000) (5,060,346) D (14,960,346) Interest income 319,849 — 319,849 Total other income (expense), net (9,580,151) (5,060,346) (14,640,497) NET LOSS $ (21,581,637) $ (5,060,346) $ (26,641,983) NET LOSS PER SHARE — BASIC AND DILUTED $ (0.74) $ (0.17) $ (0.91) WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING — BASIC AND DILUTED 29,346,679 — 29,346,679 Series D Preferred Stock Preferred Stock Common Stock Total Par Additional Accumulated Stockholders’ Shares Amount Shares Amount Shares Amount Paid ‑ In Capital Deficit Equity (Deficit) Previously Reported Balance at December 31, 2023 — $ — 430.87 $ 6,059,655 20,744,110 $ 207 $ 210,066,630 $ (217,482,539) $ (1,356,047) Stock-based compensation — — — — — — 454,363 — 454,363 Conversion of pre-funded warrants into common stock — — — — 1,079,132 11 (11) — — Exercise of warrants for preferred stock, net of issuance costs (Note 2) — — 2,205.00 42,777,000 — — — — 42,777,000 Conversion of Series E-3 preferred stock into common stock — — (1,575.00) (30,555,000) 9,890,099 100 30,554,900 — — Exercise of warrants for common stock — — — — 547,177 5 1,072,462 — 1,072,467 Conversion of Series E-2 preferred stock into common stock — — (82.26) (1,203,346) 903,956 9 1,203,337 — — Settlement of warrants to equity (Note 2) — — — — — — 4,800,000 — 4,800,000 Retired shares — — — — (8) — — — — Net loss — — — — — — — (21,581,637) (21,581,637) Balance at March 31, 2024 — $ — 978.61 $ 17,078,309 33,164,466 $ 332 $ 248,151,681 $ (239,064,176) $ 26,166,146 Adjustments Balance at December 31, 2023 111.11 $ 1,382,023 (111.11) $ (1,382,023) — $ — $ (27,142,420) $ 14,721,522 $ (13,802,921) Conversion of pre-funded warrants into common stock (C) — — — — — — 3,972,540 — 3,972,540 Settlement of warrants to equity (B) — — — 4,800,000 — — (4,800,000) — — Conversion of Series E-3 preferred stock into common stock (B) — — — (3,428,571) — — 3,428,571 — — Exercise of warrants for common stock (A) — — — — — — 1,225,676 — 1,225,676 Net loss — — — — — — — (5,060,346) (5,060,346) Balance at March 31, 2024 111.11 $ 1,382,023 (111.11) $ (10,594) — $ — $ (23,315,633) $ 9,661,176 $ (13,665,051) As Restated Balance at December 31, 2023 111.11 $ 1,382,023 319.76 $ 4,677,632 20,744,110 $ 207 $ 182,924,210 $ (202,761,017) $ (15,158,968) Stock-based compensation — — — — — — 454,363 — 454,363 Conversion of pre-funded warrants into common shares — — — — 1,079,132 11 3,972,529 — 3,972,540 Exercise of warrants for preferred stock, net of issuance costs — — 2,205.00 47,577,000 — — — — 47,577,000 Conversion of Series E-3 preferred stock into common stock — — (1,575.00) (33,983,571) 9,890,099 100 33,983,471 — — Exercise of warrants for common stock — — — — 547,177 5 2,298,138 — 2,298,143 Conversion of Series E-2 preferred stock into common stock — — (82.26) (1,203,346) 903,956 9 1,203,337 — — Retired shares — — — — (8) — — — — Net loss — — — — — — — (26,641,983) (26,641,983) Balance at March 31, 2024 111.11 $ 1,382,023 867.50 $ 17,067,715 33,164,466 $ 332 $ 224,836,048 $ (229,403,000) $ 12,501,095 Three Months Ended March 31, 2024 As Previously Reported Adjustments Reference As Restated CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (21,581,637) $ (5,060,346) D $ (26,641,983) Adjustments to reconcile net loss to cash used in operating activities: Depreciation and amortization 88,490 — 88,490 Stock-based compensation 454,363 — 454,363 Change in fair value of warrants 9,900,000 5,060,346 D 14,960,346 Change in operating lease right-of-use asset 15,436 — 15,436 Changes in: Prepaid expenses and other assets (448,959) — (448,959) Lease liability (4,639) — (4,639) Accounts payable and accrued liabilities (1,784,695) — (1,784,695) Cash used in operating activities (13,361,641) — (13,361,641) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property, plant & equipment (21,633) — (21,633) Cash used in investing activities (21,633) — (21,633) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercise of warrants, net of issuance costs (Note 2) 43,849,467 — 43,849,467 Cash provided by financing activities 43,849,467 — 43,849,467 INCREASE IN CASH AND CASH EQUIVALENTS 30,466,193 — 30,466,193 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 9,564,988 — 9,564,988 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 40,031,181 $ — $ 40,031,181 Settlement of warrants to equity $ 4,800,000 $ — $ 4,800,000 Conversion of preferred stock to common stock $ 31,758,346 $ — $ 31,758,346

NATURE OF BUSINESS AND ORGANI_3

NATURE OF BUSINESS AND ORGANIZATION (Details)	1 Months Ended	3 Months Ended		12 Months Ended
NATURE OF BUSINESS AND ORGANIZATION (Details)	Sep. 30, 2022 USD ($)	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Organization, Consolidation, Presentation of Financial Statements Disclosure and Significant Accounting Policies [Line Items]
Accumulated deficit		$ (229,403,000)		$ (202,761,017)
Net Income (Loss)		(26,641,983)	$ (7,190,470)
Unrestricted cash and cash equivalents		$ 34,300,000
Number of reportable segments \| segment		1
Fixed asset impairment charges		$ 0	$ 0
Uninsured cash balances		39,587,000		9,123,000
Cancer treatment research award through the National Cancer Institute (NCI)
Organization, Consolidation, Presentation of Financial Statements Disclosure and Significant Accounting Policies [Line Items]
Government Assistance Amount Cumulative		$ 2,000,000
Government Assistance Transaction Duration		3 years
Grant received	$ 1,980,000	$ 324,000		$ 1,759,000
Minimum
Organization, Consolidation, Presentation of Financial Statements Disclosure and Significant Accounting Policies [Line Items]
Property and equipment useful lives		3 years
Share-based compensation expiration period		12 months
Maximum
Organization, Consolidation, Presentation of Financial Statements Disclosure and Significant Accounting Policies [Line Items]
Property and equipment useful lives		10 years
Share-based compensation expiration period		3 years
Leasehold improvements
Organization, Consolidation, Presentation of Financial Statements Disclosure and Significant Accounting Policies [Line Items]
Property and equipment useful lives		64 months

STOCKHOLDERS' EQUITY - Addition

STOCKHOLDERS' EQUITY - Additional Information (Details)				1 Months Ended	3 Months Ended
STOCKHOLDERS' EQUITY - Additional Information (Details)	Sep. 08, 2023 USD ($) D $ / shares shares	Oct. 25, 2022 USD ($) $ / shares shares	Dec. 23, 2020 USD ($) $ / shares shares	Jan. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) shares	Dec. 31, 2023 $ / shares shares	Oct. 25, 2023 shares	Oct. 31, 2022 $ / shares shares
STOCKHOLDERS' EQUITY
Warrants issued to purchase shares					12,529,916
Proceeds from exercise of warrants, net of issuance costs (Note 2) \| $					$ 43,849,467	$ 3
Common stock, shares authorized					170,000,000		170,000,000	160,000,000
Common stock par value \| $ / shares					$ 0.00001		$ 0.00001
Exercise of warrants into common shares \| $					$ 2,298,143
September 2023 Private Placement
STOCKHOLDERS' EQUITY
Gross proceeds \| $	$ 24,500,000
Net proceeds \| $	$ 22,200,000
Common Stock
STOCKHOLDERS' EQUITY
Exercise of warrants into common shares \| $					$ 5
Exercise of warrants into common shares (in shares)					547,177
Common Stock \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Conversion of pre-funded warrants into common shares (in shares)					903,956
Preferred Stock \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Number of shares converted	905.24
Common Stock \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Convertible preferred shares issued	9,947,684
Series E Warrants \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Share price \| $ / shares	$ 20,000
Series E-1 preferred stock \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Shares issued	1,225
Conversion price per share \| $ / shares	$ 1.82
Convertible preferred shares issued	13,461,538
Gross proceeds from stockholders' equity \| $	$ 17,820,000
Series E-2 preferred stock
STOCKHOLDERS' EQUITY
Preferred stock, share outstanding					237.50		319.76
Series E-2 preferred stock \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Conversion of pre-funded warrants into common shares (in shares)					82.26
Common stock par value \| $ / shares	$ 1.82
Preferred stock, share outstanding					237.50		319.76
Series E-2 preferred stock \| Common Stock
STOCKHOLDERS' EQUITY
Conversion of pre-funded warrants into common shares (in shares)					903,956
Series E-3 preferred stock
STOCKHOLDERS' EQUITY
Preferred stock, share outstanding					630		0
Series E-3 preferred stock \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Conversion price per share \| $ / shares	$ 3.185			$ 3.185
Convertible preferred shares issued	13,846,154
Conversion of pre-funded warrants into common shares (in shares)					9,890,099
Number of shares converted					1,575
Preferred stock, share outstanding					630
Series E-3 preferred stock \| Common Stock
STOCKHOLDERS' EQUITY
Conversion of pre-funded warrants into common shares (in shares)					9,890,099
Series E-4 preferred stock \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Conversion price per share \| $ / shares	$ 4.7775
Convertible preferred shares issued	7,179,487
Tranche A and B Warrants \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Gross proceeds from stockholders' equity \| $	$ 4,800,000
December 2020 Public Offering and Private Placement
STOCKHOLDERS' EQUITY
Shares issued			1,814,813
Common stock par value \| $ / shares			$ 0.00001
Public offering price of share \| $ / shares			$ 13.50
December 2020 Public Offering and Private Placement \| Series D convertible preferred stock
STOCKHOLDERS' EQUITY
Shares issued			1,518.5180
Price per share \| $ / shares			$ 13,500
October 2022 Public Offering and Private Placement
STOCKHOLDERS' EQUITY
Warrants issued to purchase shares		3,275,153
Gross proceeds \| $		$ 10,700,000
Proceeds from exercise of warrants, net of issuance costs (Note 2) \| $					$ 1,100,000
Exercise price of warrants (in dollars per share) \| $ / shares		$ 2.085
Class of warrant or rights from which warrants or rights exercisable. \| $ / shares		$ 0.00001
Estimated offering expenses \| $		$ 9,600,000
Number of warrants exercised					547,177	0
October 2022 Public Offering and Private Placement \| Common Stock
STOCKHOLDERS' EQUITY
Warrants issued to purchase shares		1,875,945
Exercise price of warrants (in dollars per share) \| $ / shares		$ 1.96
Common Stock \| December 2020 Public Offering and Private Placement \| Series D convertible preferred stock
STOCKHOLDERS' EQUITY
Preferred shares are convertible into a number of shares of common stock \| $			$ 13,500
Common Stock \| October 2022 Public Offering and Private Placement
STOCKHOLDERS' EQUITY
Conversion of pre-funded warrants into common shares (in shares)					1,079,132
Common warrants \| December 2020 Public Offering and Private Placement \| Series D convertible preferred stock
STOCKHOLDERS' EQUITY
Price per share \| $ / shares			$ 13.50
Prefunded Warrant \| December 2020 Public Offering and Private Placement \| Series D convertible preferred stock
STOCKHOLDERS' EQUITY
Shares issued			1,000
Prefunded Warrant \| October 2022 Public Offering and Private Placement
STOCKHOLDERS' EQUITY
Warrants issued to purchase shares		1,875,945
Exercise price of warrants (in dollars per share) \| $ / shares		$ 2.08499
pre-funded warrants					1,079,132
2023 Tranche A Preferred Warrants \| Series E-3 preferred stock \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Warrants issued to purchase shares	2,205
Proceeds from exercise of warrants, net of issuance costs (Note 2) \| $	$ 44,100,000
Number of days \| D	10
2023 Tranche B Preferred Warrants \| Series E-4 preferred stock \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Warrants issued to purchase shares	1,715
Proceeds from exercise of warrants, net of issuance costs (Note 2) \| $	$ 34,300,000
Number of days \| D	10
2022 Pre-Funded Common Warrants
STOCKHOLDERS' EQUITY
Warrants issued to purchase shares									1,875,941
Common stock par value \| $ / shares					$ 0.00001
2022 Common Warrants
STOCKHOLDERS' EQUITY
Warrants issued to purchase shares									5,151,098
Exercise price of warrants (in dollars per share) \| $ / shares									$ 1.96
Warrants term									5 years
Tranche A Warrants
STOCKHOLDERS' EQUITY
Exercise of warrants into common shares \| $					$ 47,577,000
Tranche A Warrants \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Warrants term				10 days
Tranche A Warrants \| Series E-3 preferred stock \| September 2023 Private Placement
STOCKHOLDERS' EQUITY
Proceeds from exercise of warrants, net of issuance costs (Note 2) \| $				$ 44,100,000
Exercise of warrants into common shares \| $				$ 42,800,000
Exercise of warrants into common shares (in shares)				2,205

STOCKHOLDERS' EQUITY - Common S

STOCKHOLDERS' EQUITY - Common Stock Warrants (Details)	3 Months Ended
STOCKHOLDERS' EQUITY - Common Stock Warrants (Details)	Mar. 31, 2024 $ / shares shares
STOCKHOLDERS' EQUITY
Number of shares issuable upon exercise of outstanding warrants (in shares)	12,529,916
2023 Tranche B Preferred Warrants
STOCKHOLDERS' EQUITY
Number of shares issuable upon exercise of outstanding warrants (in shares)	7,179,492
Exercise price of warrants (in dollars per share) \| $ / shares	$ 4.7775
Warrants expiration date	Sep. 08, 2028
2022 Common Warrants
STOCKHOLDERS' EQUITY
Number of shares issuable upon exercise of outstanding warrants (in shares)	4,201,044
Exercise price of warrants (in dollars per share) \| $ / shares	$ 1.96
Warrants expiration date	Oct. 25, 2027
June 2020 Series H Common Warrants
STOCKHOLDERS' EQUITY
Number of shares issuable upon exercise of outstanding warrants (in shares)	720,796
Exercise price of warrants (in dollars per share) \| $ / shares	$ 12.075
Warrants expiration date	Jun. 05, 2025
May 2019 Series F Common Warrants
STOCKHOLDERS' EQUITY
Number of shares issuable upon exercise of outstanding warrants (in shares)	195,700
Exercise price of warrants (in dollars per share) \| $ / shares	$ 24
Warrants expiration date	May 20, 2024
May 2019 Series G Common Warrants
STOCKHOLDERS' EQUITY
Number of shares issuable upon exercise of outstanding warrants (in shares)	201,800
Exercise price of warrants (in dollars per share) \| $ / shares	$ 24
Warrants expiration date	May 20, 2024
October 2017 Series D Common Warrants
STOCKHOLDERS' EQUITY
Number of shares issuable upon exercise of outstanding warrants (in shares)	31,085
Exercise price of warrants (in dollars per share) \| $ / shares	$ 178
Warrants expiration date	Oct. 14, 2024

FAIR VALUE - Additional Informa

FAIR VALUE - Additional Information (Details)	3 Months Ended
FAIR VALUE - Additional Information (Details)	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) $ / shares	Sep. 30, 2023 shares	Oct. 31, 2022 $ / shares shares
FAIR VALUE
Warrants issued to purchase shares \| shares	12,529,916
Warrant liability	$ 21,083,028		$ 16,120,898
Warrants	$ 14,960,346	$ (1,390,797)
Common stock par value \| $ / shares	$ 0.00001		$ 0.00001
Tranche A Warrants \| Series E-3 preferred stock
FAIR VALUE
Warrants	$ 4,800,000
September 2023 Warrants
FAIR VALUE
Warrants issued to purchase shares \| shares				21,025,641
Warrant liability	$ 8,800,000		$ 4,200,000
2022 Common Warrants
FAIR VALUE
Warrants issued to purchase shares \| shares					5,151,098
Warrants term					5 years
Exercise price of warrants (in dollars per share) \| $ / shares					$ 1.96
2022 Pre-Funded Common Warrants
FAIR VALUE
Warrants issued to purchase shares \| shares					1,875,941
Common stock par value \| $ / shares	$ 0.00001
Dividend \| September 2023 Warrants
FAIR VALUE
Warrants	0		0	0
Dividend \| 2022 Common Warrants
FAIR VALUE
Warrants	0		0		0
Level 1
FAIR VALUE
Fair value of financial liabilities	$ 0
Level 2
FAIR VALUE
Fair value of financial liabilities	$ 0

FAIR VALUE - Option-pricing ass

FAIR VALUE - Option-pricing assumptions and assumptions used upon issuance (Details)	Mar. 31, 2024 Y	Dec. 31, 2023 Y	Sep. 30, 2023	Oct. 31, 2022
September 2023 Warrants \| Volatility \| Maximum
FAIR VALUE
Warrants	85	83
September 2023 Warrants \| Volatility \| Minimum
FAIR VALUE
Warrants	84	82
September 2023 Warrants \| Risk-free interest rate
FAIR VALUE
Warrants	4.26
September 2023 Warrants \| Risk-free interest rate \| Maximum
FAIR VALUE
Warrants		5.40
September 2023 Warrants \| Risk-free interest rate \| Minimum
FAIR VALUE
Warrants		3.80
September 2023 Warrants \| Expected life (years) \| Maximum
FAIR VALUE
Warrants	4.4	4.7
September 2023 Warrants \| Expected life (years) \| Minimum
FAIR VALUE
Warrants	1	0.3
September 2023 Warrants \| Dividend
FAIR VALUE
Warrants	0	0	0
2022 Common Warrants \| Volatility
FAIR VALUE
Warrants	80.2	83.3
2022 Common Warrants \| Risk-free interest rate
FAIR VALUE
Warrants	4.21	3.84
2022 Common Warrants \| Expected life (years)
FAIR VALUE
Warrants	3.6	3.8
2022 Common Warrants \| Dividend
FAIR VALUE
Warrants	0	0		0

FAIR VALUE - Changes in the fai

FAIR VALUE - Changes in the fair market value of the warrants (Details) - Level 3 - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Warrants
Changes in the fair market value of the warrants
Beginning Balance	$ 13,131,691
Change in fair value	13,977,013
Ending Balance	$ 21,083,028	$ 13,131,691
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Fair Value Adjustment of Warrants	Fair Value Adjustment of Warrants
September 2023 Warrants
Changes in the fair market value of the warrants
Settlement	$ (4,800,000)
2022 Common Warrants
Changes in the fair market value of the warrants
Exercise	$ (1,225,676)

STOCK-BASED COMPENSATION - Expe

STOCK-BASED COMPENSATION - Expense for stock-based compensation (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
STOCK-BASED COMPENSATION
Stock-based compensation	$ 454,363	$ 408,206
Employee and director stock option grants
STOCK-BASED COMPENSATION
Stock-based compensation	454,363	408,206
Employee and director stock option grants \| Research and development
STOCK-BASED COMPENSATION
Stock-based compensation	68,776	66,195
Employee and director stock option grants \| General and administrative
STOCK-BASED COMPENSATION
Stock-based compensation	$ 385,587	$ 342,011

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - $ / shares		1 Months Ended
	Jun. 23, 2023	Mar. 31, 2024	Dec. 31, 2023
Contingent non-statutory stock option awards
STOCK-BASED COMPENSATION
Options granted (in shares)		200,000	2,776,000
Weighted-average exercise price			$ 2.65
Minimum \| Contingent non-statutory stock option awards
STOCK-BASED COMPENSATION
Weighted-average exercise price		$ 3.35
Maximum \| Contingent non-statutory stock option awards
STOCK-BASED COMPENSATION
Weighted-average exercise price		$ 3.63
2021 Stock Incentive Plan
STOCK-BASED COMPENSATION
Increase in common stock available for issuance	1,100,000
Shares issued	2,368,000

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) - shares	3 Months Ended
NET LOSS PER SHARE (Details) - shares	Mar. 31, 2024	Mar. 31, 2023
NET LOSS PER SHARE
Total potentially dilutive shares	21,555,585	8,304,346
Warrants
NET LOSS PER SHARE
Total potentially dilutive shares	12,529,916	6,714,479
Preferred shares as convertible into common stock
NET LOSS PER SHARE
Total potentially dilutive shares	6,677,045	111,111
Stock Options
NET LOSS PER SHARE
Total potentially dilutive shares	2,348,624	1,478,756

LEASES - Additional Information

LEASES - Additional Information (Details)	Dec. 30, 2022 USD ($) ft²	Mar. 31, 2024	Jun. 30, 2018
Leases
Area of land \| ft²	3,983
Reasonable to use as the incremental borrowing rate (in percentage)		14%	10%
Lessee, operating lease, term of contract	60 months
Payments for rent	$ 11,800
Increase In percentage of rent	2%
Maximum
Leases
Security deposit paid	$ 75,000
Operating leases rent expense net	918,000
Minimum
Leases
Security deposit paid	23,566
Operating leases rent expense net	$ 893,000

LEASES - Short-term leases and

LEASES - Short-term leases and operating lease liabilities (Details)	Mar. 31, 2024 USD ($)
LEASES
Remaining period of 2024	$ 108,000
2025	146,000
2026	150,000
2027	153,000
2028	155,000
Thereafter	53,000
Total undiscounted lease payments	765,000
Less: Imputed interest	(217,000)
Present value of lease liabilities	$ 548,000

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - USD ($)		3 Months Ended
SUBSEQUENT EVENT (Details) - USD ($)	Jul. 21, 2024	Mar. 31, 2024	Mar. 31, 2023
SUBSEQUENT EVENTS
Gross proceeds from exercise of warrants		$ 43,849,467	$ 3
Subsequent event \| Series E-4 preferred stock \| 2023 Tranche B Preferred Warrants
SUBSEQUENT EVENTS
Number of shares issuable upon conversion of preferred stock	6,739,918
Conversion price per share	$ 2.52
Gross proceeds from exercise of warrants	$ 19,400,000
Net proceeds from warrant exercises	$ 17,500,000

RESTATEMENT OF PREVIOUSLY ISS_3

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Details)	3 Months Ended
	Mar. 31, 2024 USD ($)
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
Issuance of warrants adjustments to additional paid in capital charged to other expenses	$ 25,300,000

RESTATEMENT OF PREVIOUSLY ISS_4

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - RESTATED CONSOLIDATED BALANCE SHEETS (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 40,031,181	$ 9,564,988
Prepaid expenses and other current assets	1,337,184	888,225
Total current assets	41,368,365	10,453,213
Property, plant & equipment, net	1,023,447	1,090,304
Operating lease right-of-use asset	486,847	502,283
Other long-term assets	29,780	29,780
TOTAL ASSETS	42,908,439	12,075,580
CURRENT LIABILITIES:
Accounts payable and accrued liabilities	7,393,950	9,178,645
Warrant liability	21,083,028	16,120,898
Lease liability, current	73,994	58,979
Total current liabilities	28,550,972	25,358,522
Long-term lease liability, net of current portion	474,349	494,003
TOTAL LIABILITIES	29,025,321	25,852,525
COMMITMENTS AND CONTINGENCIES (Note 7)
MEZZANINE EQUITY:
Series D preferred stock, 111.11 shares authorized; 111.11 shares issued and outstanding as of March 31, 2024 and December 31, 2023	1,382,023	1,382,023
STOCKHOLDERS' EQUITY (DEFICIT):
Common stock, $0.00001 par value; 170,000,000 shares authorized; 33,164,466 and 20,744,110 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	332	207
Additional paid-in capital	224,836,048	182,924,210
Accumulated deficit	(229,403,000)	(202,761,017)
Total stockholders' equity (deficit)	12,501,095	(15,158,968)	$ 1,370,983	$ 8,153,244
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	42,908,439	12,075,580
Series D preferred stock
MEZZANINE EQUITY:
Series D preferred stock, 111.11 shares authorized; 111.11 shares issued and outstanding as of March 31, 2024 and December 31, 2023	1,382,023	1,382,023	$ 1,382,023	$ 1,382,023
Series E-2 preferred stock
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock	3,474,286
Series E-3 preferred stock
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock	13,593,429
As previously reported
CURRENT ASSETS:
Cash and cash equivalents	40,031,181
Prepaid expenses and other current assets	1,337,184
Total current assets	41,368,365
Property, plant & equipment, net	1,023,447
Operating lease right-of-use asset	486,847
Other long-term assets	29,780
TOTAL ASSETS	42,908,439
CURRENT LIABILITIES:
Accounts payable and accrued liabilities	7,393,950
Warrant liability	8,800,000
Lease liability, current	73,994
Total current liabilities	16,267,944
Long-term lease liability, net of current portion	474,349
TOTAL LIABILITIES	16,742,293
STOCKHOLDERS' EQUITY (DEFICIT):
Common stock, $0.00001 par value; 170,000,000 shares authorized; 33,164,466 and 20,744,110 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	332
Additional paid-in capital	248,151,681
Accumulated deficit	(239,064,176)
Total stockholders' equity (deficit)	26,166,146	(1,356,047)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	42,908,439
As previously reported \| Series D preferred stock
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock	1,382,023
As previously reported \| Series E-2 preferred stock
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock	3,474,286
As previously reported \| Series E-3 preferred stock
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock	12,222,000
Restatement adjustments
CURRENT LIABILITIES:
Warrant liability	12,283,028
Total current liabilities	12,283,028
TOTAL LIABILITIES	12,283,028
MEZZANINE EQUITY:
Series D preferred stock, 111.11 shares authorized; 111.11 shares issued and outstanding as of March 31, 2024 and December 31, 2023	1,382,023
STOCKHOLDERS' EQUITY (DEFICIT):
Additional paid-in capital	(23,315,633)
Accumulated deficit	9,661,176
Total stockholders' equity (deficit)	(13,665,051)	(13,802,921)
Restatement adjustments \| Series D preferred stock
MEZZANINE EQUITY:
Series D preferred stock, 111.11 shares authorized; 111.11 shares issued and outstanding as of March 31, 2024 and December 31, 2023	1,382,023	$ 1,382,023
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock	(1,382,023)
Restatement adjustments \| Series E-3 preferred stock
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock	$ 1,371,429

RESTATEMENT OF PREVIOUSLY ISS_5

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - RESTATED CONSOLIDATED BALANCE SHEETS (Parenthetical) (Details) - $ / shares	Mar. 31, 2024	Dec. 31, 2023	Oct. 25, 2023	Mar. 31, 2023	Dec. 31, 2022
Temporary equity, preferred stock, shares authorized	111.11	111.11
Temporary equity, preferred stock, shares issued	111.11	111.11
Temporary equity, preferred stock, shares outstanding	111.11
Preferred Stock, Shares Authorized	1,225	1,225
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common Stock, Shares Authorized	170,000,000	170,000,000	160,000,000
Common stock, shares issued	33,164,466	20,744,110
Common stock, shares outstanding	33,164,466	20,744,110
Series D preferred stock
Temporary equity, preferred stock, shares outstanding	111.11	111.11		111.11	111.11
Preferred Stock, Shares Authorized	111.11
Preferred stock, share issued	111.11
Series E-2 preferred stock
Preferred Stock, Shares Authorized	1,225
Preferred stock, share issued	237.50
Preferred stock, share outstanding	237.50
Series E-3 preferred stock
Preferred Stock, Shares Authorized	2,205	2,205
Preferred stock, share issued	630	0
Preferred stock, share outstanding	630	0
Restatement adjustments \| Series D preferred stock
Temporary equity, preferred stock, shares outstanding	111.11	111.11

RESTATEMENT OF PREVIOUSLY ISS_6

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - RESTATED CONSOLIDATED STATEMENTS OF OPERATIONS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING EXPENSES:
Research and development	$ 7,088,042	$ 6,359,256
General and administrative	4,913,444	2,346,045
Total operating expenses	12,001,486	8,705,301
LOSS FROM OPERATIONS	(12,001,486)	(8,705,301)
OTHER INCOME (EXPENSE):
(Loss) gain on valuation of warrants	(14,960,346)	1,390,797
Interest income	319,849	124,034
Total other (expense) income, net	(14,640,497)	1,514,831
NET LOSS	$ (26,641,983)	$ (7,190,470)
BASIC NET LOSS PER SHARE	$ (0.91)	$ (0.64)
DILUTED NET LOSS PER SHARE	$ (0.91)	$ (0.64)
BASIC WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING	29,346,679	11,261,217
DILUTED WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING	29,346,679	11,261,217
As previously reported
OPERATING EXPENSES:
Research and development	$ 7,377,940
General and administrative	4,623,546
Total operating expenses	12,001,486
LOSS FROM OPERATIONS	(12,001,486)
OTHER INCOME (EXPENSE):
(Loss) gain on valuation of warrants	(9,900,000)
Interest income	319,849
Total other (expense) income, net	(9,580,151)
NET LOSS	$ (21,581,637)
BASIC NET LOSS PER SHARE	$ (0.74)
DILUTED NET LOSS PER SHARE	$ (0.74)
BASIC WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING	29,346,679
DILUTED WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING	29,346,679
Restatement adjustments
OPERATING EXPENSES:
Research and development	$ (289,898)
General and administrative	289,898
OTHER INCOME (EXPENSE):
(Loss) gain on valuation of warrants	(5,060,346)
Total other (expense) income, net	(5,060,346)
NET LOSS	$ (5,060,346)
BASIC NET LOSS PER SHARE	$ (0.17)
DILUTED NET LOSS PER SHARE	$ (0.17)

RESTATEMENT OF PREVIOUSLY ISS_7

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - RESTATED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' (DEFICIT) EQUITY (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Balance beginning	$ (15,158,968)	$ 8,153,244
Balance beginning Series D preferred stock	1,382,023
Stock-based compensation	454,363	408,206
Exercise of warrants into common shares	2,298,143
Net loss	(26,641,983)	(7,190,470)
Balance ending Series D preferred stock	$ 1,382,023
Balance ending Series D preferred stock (in shares)	111.11
Balance ending	$ 12,501,095	1,370,983
As previously reported
Balance beginning	(1,356,047)
Stock-based compensation	454,363
Exercise of warrants into common shares	1,072,467
Settlement of warrants to equity (Note 2)	4,800,000
Net loss	(21,581,637)
Balance ending	26,166,146
Restatement adjustments
Balance beginning	(13,802,921)
Exercise of warrants into common shares	1,225,676
Net loss	(5,060,346)
Balance ending Series D preferred stock	1,382,023
Balance ending	(13,665,051)
Series D preferred stock
Balance beginning Series D preferred stock	$ 1,382,023	$ 1,382,023
Balance beginning Series D preferred stock (in shares)	111.11	111.11
Balance ending Series D preferred stock	$ 1,382,023	$ 1,382,023
Balance ending Series D preferred stock (in shares)	111.11	111.11
Series D preferred stock \| Restatement adjustments
Balance beginning Series D preferred stock	$ 1,382,023
Balance beginning Series D preferred stock (in shares)	111.11
Balance ending Series D preferred stock	$ 1,382,023
Balance ending Series D preferred stock (in shares)	111.11
Preferred Stock
Balance beginning	$ 4,677,632
Balance beginning (in shares)	319.76
Balance ending	$ 17,067,715
Balance ending (in shares)	867.50
Preferred Stock \| As previously reported
Balance beginning	$ 6,059,655
Balance beginning (in shares)	430.87
Balance ending	$ 17,078,309
Balance ending (in shares)	978.61
Preferred Stock \| Restatement adjustments
Balance beginning	$ (1,382,023)
Balance beginning (in shares)	(111.11)
Settlement of warrants to equity (Note 2)	$ 4,800,000
Balance ending	$ (10,594)
Balance ending (in shares)	(111.11)
Preferred Stock \| Series E-2 preferred stock
Conversion of preferred stock to common stock	$ (1,203,346)
Conversion of preferred stock to common stock (in shares)	(82.26)
Preferred Stock \| Series E-2 preferred stock \| As previously reported
Conversion of preferred stock to common stock	$ (1,203,346)
Conversion of preferred stock to common stock (in shares)	(82.26)
Preferred Stock \| Series E-3 preferred stock
Conversion of preferred stock to common stock	$ (33,983,571)
Conversion of preferred stock to common stock (in shares)	(1,575)
Preferred Stock \| Series E-3 preferred stock \| As previously reported
Conversion of preferred stock to common stock	$ (30,555,000)
Conversion of preferred stock to common stock (in shares)	(1,575)
Preferred Stock \| Series E-3 preferred stock \| Restatement adjustments
Conversion of preferred stock to common stock	$ (3,428,571)
Common Stock
Balance beginning	$ 207	$ 94
Balance beginning (in shares)	20,744,110	9,385,272
Exercise of warrants into common shares	$ 5
Exercise of warrants into common shares (in shares)	547,177
Retired shares (in shares)	(8)
Balance ending	$ 332	$ 97
Balance ending (in shares)	33,164,466	9,740,507
Common Stock \| As previously reported
Balance beginning	$ 207
Balance beginning (in shares)	20,744,110
Exercise of warrants into common shares	$ 5
Exercise of warrants into common shares (in shares)	547,177
Retired shares (in shares)	(8)
Balance ending	$ 332
Balance ending (in shares)	33,164,466
Common Stock \| Series E-2 preferred stock
Conversion of preferred stock to common stock	$ 9
Conversion of preferred stock to common stock (in shares)	903,956
Common Stock \| Series E-2 preferred stock \| As previously reported
Conversion of preferred stock to common stock	$ 9
Conversion of preferred stock to common stock (in shares)	903,956
Common Stock \| Series E-3 preferred stock
Conversion of preferred stock to common stock	$ 100
Conversion of preferred stock to common stock (in shares)	9,890,099
Common Stock \| Series E-3 preferred stock \| As previously reported
Conversion of preferred stock to common stock	$ 100
Conversion of preferred stock to common stock (in shares)	9,890,099
Additional Paid-In Capital
Balance beginning	$ 182,924,210	$ 168,143,557
Stock-based compensation	454,363	408,206
Exercise of warrants into common shares	2,298,138
Balance ending	224,836,048	168,551,763
Additional Paid-In Capital \| As previously reported
Balance beginning	210,066,630
Stock-based compensation	454,363
Exercise of warrants into common shares	1,072,462
Settlement of warrants to equity (Note 2)	4,800,000
Balance ending	248,151,681
Additional Paid-In Capital \| Restatement adjustments
Balance beginning	(27,142,420)
Exercise of warrants into common shares	1,225,676
Settlement of warrants to equity (Note 2)	(4,800,000)
Balance ending	(23,315,633)
Additional Paid-In Capital \| Series E-2 preferred stock
Conversion of preferred stock to common stock	1,203,337
Additional Paid-In Capital \| Series E-2 preferred stock \| As previously reported
Conversion of preferred stock to common stock	1,203,337
Additional Paid-In Capital \| Series E-3 preferred stock
Conversion of preferred stock to common stock	33,983,471
Additional Paid-In Capital \| Series E-3 preferred stock \| As previously reported
Conversion of preferred stock to common stock	30,554,900
Additional Paid-In Capital \| Series E-3 preferred stock \| Restatement adjustments
Conversion of preferred stock to common stock	3,428,571
Accumulated Deficit
Balance beginning	(202,761,017)	(159,990,407)
Net loss	(26,641,983)	(7,190,470)
Balance ending	(229,403,000)	(167,180,877)
Accumulated Deficit \| As previously reported
Balance beginning	(217,482,539)
Net loss	(21,581,637)
Balance ending	(239,064,176)
Accumulated Deficit \| Restatement adjustments
Balance beginning	14,721,522
Net loss	(5,060,346)
Balance ending	9,661,176
Pre-funded warrants
Conversion of preferred stock to common stock	3,972,540	3
Pre-funded warrants \| Restatement adjustments
Conversion of preferred stock to common stock	3,972,540
Pre-funded warrants \| Common Stock
Conversion of preferred stock to common stock	$ 11	$ 3
Conversion of preferred stock to common stock (in shares)	1,079,132	355,235
Pre-funded warrants \| Common Stock \| As previously reported
Conversion of preferred stock to common stock	$ 11
Conversion of preferred stock to common stock (in shares)	1,079,132
Pre-funded warrants \| Additional Paid-In Capital
Conversion of preferred stock to common stock	$ 3,972,529
Pre-funded warrants \| Additional Paid-In Capital \| As previously reported
Conversion of preferred stock to common stock	(11)
Pre-funded warrants \| Additional Paid-In Capital \| Restatement adjustments
Conversion of preferred stock to common stock	3,972,540
Tranche A Warrants
Exercise of warrants into common shares	47,577,000
Tranche A Warrants \| As previously reported
Exercise of warrants into common shares	42,777,000
Tranche A Warrants \| Preferred Stock
Exercise of warrants into common shares	$ 47,577,000
Exercise of warrants into common shares (in shares)	2,205
Tranche A Warrants \| Preferred Stock \| As previously reported
Exercise of warrants into common shares	$ 42,777,000
Exercise of warrants into common shares (in shares)	2,205

RESTATEMENT OF PREVIOUSLY ISS_8

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - RESTATED CONSOLIDATED STATEMENTS OF CASH FLOWS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (26,641,983)	$ (7,190,470)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	88,490	42,557
Stock-based compensation	454,363	408,206
Change in fair value of warrants	14,960,346	(1,390,797)
Change in operating lease right-of-use asset	15,436	13,829
Changes in:
Prepaid expenses and other current assets	(448,959)	(488,719)
Lease liability	(4,639)	(4,378)
Accounts payable and accrued liabilities	(1,784,695)	1,426,102
Cash used in operating activities	(13,361,641)	(7,183,670)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant & equipment	(21,633)
Cash used in investing activities	(21,633)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of warrants, net of issuance costs (Note 2)	43,849,467	3
Cash provided by financing activities	43,849,467	3
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	30,466,193	(7,183,667)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	9,564,988	19,866,358
CASH AND CASH EQUIVALENTS AT END OF PERIOD	40,031,181	$ 12,682,691
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Settlement of warrants to equity	4,800,000
Conversion of preferred stock to common stock	31,758,346
As previously reported
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	(21,581,637)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	88,490
Stock-based compensation	454,363
Change in fair value of warrants	9,900,000
Change in operating lease right-of-use asset	15,436
Changes in:
Prepaid expenses and other current assets	(448,959)
Lease liability	(4,639)
Accounts payable and accrued liabilities	(1,784,695)
Cash used in operating activities	(13,361,641)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant & equipment	(21,633)
Cash used in investing activities	(21,633)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of warrants, net of issuance costs (Note 2)	43,849,467
Cash provided by financing activities	43,849,467
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	30,466,193
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	9,564,988
CASH AND CASH EQUIVALENTS AT END OF PERIOD	40,031,181
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Settlement of warrants to equity	4,800,000
Conversion of preferred stock to common stock	31,758,346
Restatement adjustments
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	(5,060,346)
Adjustments to reconcile net loss to cash used in operating activities:
Change in fair value of warrants	$ 5,060,346