Anavex Life Sciences (AVXL) 10-Q 6 Aug 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Jun. 30, 2024	Aug. 06, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--09-30
Entity File Number	001-37606
Entity Registrant Name	ANAVEX LIFE SCIENCES CORP.
Entity Central Index Key	0001314052
Entity Tax Identification Number	98-0608404
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	630 5th Avenue
Entity Address, Address Line Two	20th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Country	US
Entity Address, Postal Zip Code	10111
City Area Code	844
Local Phone Number	689-3939
Title of 12(b) Security	Common Stock Par Value $0.001
Trading Symbol	AVXL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		84,795,517

Condensed Consolidated Interim

Condensed Consolidated Interim Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Current
Cash and cash equivalents	$ 138,756	$ 151,024
Incentive and tax receivables	1,720	2,709
Prepaid expenses and other current assets	1,059	653
Total Assets	141,535	154,386
Current Liabilities
Accounts payable	3,503	4,322
Accrued liabilities - Note 4	7,334	7,295
Deferred grant income - Note 3	917	917
Total Liabilities	11,754	12,534
Commitments and Contingencies - Note 6
Capital stock Authorized: 10,000,000 preferred stock, par value $0.001 per share
Capital stock Authorized: 200,000,000 common stock, par value $0.001 per share, Issued and outstanding: 84,795,517 common shares (September 30, 2023 - 82,066,511)	85	82
Additional paid-in capital	454,236	434,839
Share proceeds receivable	(89)	0
Accumulated deficit	(324,451)	(293,069)
Total Stockholders' Equity	129,781	141,852
Total Liabilities and Stockholders' Equity	$ 141,535	$ 154,386

Condensed Consolidated Interi_2

Condensed Consolidated Interim Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Sep. 30, 2023
Statement of Financial Position [Abstract]
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	84,795,517	82,066,511
Common stock, shares outstanding	84,795,517	82,066,511

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating expenses
General and administrative	$ 2,859	$ 3,248	$ 8,258	$ 9,447
Research and development	11,870	10,283	30,283	33,657
Total operating expenses	14,729	13,531	38,541	43,104
Operating loss	(14,729)	(13,531)	(38,541)	(43,104)
Other income (expense)
Grant income	0	0	0	25
Research and development incentive income	526	565	1,591	2,048
Interest income, net	1,796	1,828	5,561	4,561
Other financing expense	0	0	0	(964)
Foreign exchange gain (loss)	67	(101)	72	146
Gain on settlement of accounts payable	59	0	59	0
Total other income, net	2,448	2,292	7,283	5,816
Net loss before provision for income taxes	(12,281)	(11,239)	(31,258)	(37,288)
Income tax recovery (expense), current	67	(41)	(124)	(71)
Net loss and comprehensive loss	$ (12,214)	$ (11,280)	$ (31,382)	$ (37,359)
Net Loss per share
Net Loss per share, Basic	$ (0.14)	$ (0.14)	$ (0.38)	$ (0.47)
Net Loss per share, Diluted	$ (0.14)	$ (0.14)	$ (0.38)	$ (0.47)
Weighted average number of shares outstanding
Weighted average number of shares outstanding, Basic	84,535,328	80,875,235	83,022,330	79,051,038
Weighted average number of shares outstanding, Diluted	84,535,328	80,875,235	83,022,330	79,051,038

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Share Proceeds Receivable [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Sep. 30, 2022	$ 78	$ 387,977		$ (245,564)	$ 142,491
Beginning balance, shares at Sep. 30, 2022	77,942,815
Initial commitment shares		845			845
Initial commitment shares, shares	75,000
Purchase shares	$ 3	26,684			26,687
Purchase shares, shares	3,125,000
Commitment shares
Commitment shares, shares	13,348
Shares issued pursuant to exercise of stock options		908			908
Shares issued pursuant to exercise of stock options, shares	234,753
Share based compensation		13,183			13,183
Net loss				(37,359)	(37,359)
Ending balance, value at Jun. 30, 2023	$ 81	429,597		(282,923)	146,755
Ending balance, shares at Jun. 30, 2023	81,390,916
Beginning balance, value at Mar. 31, 2023	$ 80	416,728		(271,643)	145,165
Beginning balance, shares at Mar. 31, 2023	80,235,398
Purchase shares	$ 1	8,534			8,535
Purchase shares, shares	1,050,000
Commitment shares
Commitment shares, shares	4,268
Shares issued pursuant to exercise of stock options		468			468
Shares issued pursuant to exercise of stock options, shares	101,250
Share based compensation		3,867			3,867
Net loss				(11,280)	(11,280)
Ending balance, value at Jun. 30, 2023	$ 81	429,597		(282,923)	146,755
Ending balance, shares at Jun. 30, 2023	81,390,916
Beginning balance, value at Sep. 30, 2023	$ 82	434,839		(293,069)	141,852
Beginning balance, shares at Sep. 30, 2023	82,066,511
Purchase shares	$ 3	11,281			11,284
Purchase shares, shares	2,450,000
Commitment shares
Commitment shares, shares	5,646
Shares issued pursuant to exercise of stock options		691	(89)		602
Shares issued pursuant to exercise of stock options, shares	273,360
Share based compensation		7,425			7,425
Net loss				(31,382)	(31,382)
Ending balance, value at Jun. 30, 2024	$ 85	454,236	(89)	(324,451)	129,781
Ending balance, shares at Jun. 30, 2024	84,795,517
Beginning balance, value at Mar. 31, 2024	$ 84	447,345	(234)	(312,237)	134,958
Beginning balance, shares at Mar. 31, 2024	83,616,218
Purchase shares	$ 1	3,870	234		4,105
Purchase shares, shares	950,000
Commitment shares
Commitment shares, shares	1,939
Shares issued pursuant to exercise of stock options		533	(89)		444
Shares issued pursuant to exercise of stock options, shares	227,360
Share based compensation		2,488			2,488
Net loss				(12,214)	(12,214)
Ending balance, value at Jun. 30, 2024	$ 85	$ 454,236	$ (89)	$ (324,451)	$ 129,781
Ending balance, shares at Jun. 30, 2024	84,795,517

Condensed Consolidated Interi_5

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows used in Operating Activities
Net loss	$ (31,382)	$ (37,359)
Adjustments to reconcile net loss to net cash used in operations:
Non-cash financing related charges	0	845
Gain on settlement of accounts payable	(59)	0
Share-based compensation	7,425	13,183
Changes in working capital balances related to operations:
Incentive and tax receivables	989	1,027
Prepaid expenses and deposits	(406)	(473)
Accounts payable	(760)	327
Accrued liabilities	39	41
Deferred grant income	0	473
Net cash used in operating activities	(24,154)	(21,936)
Cash Flows provided by Financing Activities
Issuance of common shares	11,284	26,687
Proceeds from exercise of stock options	602	908
Net cash provided by financing activities	11,886	27,595
Increase (decrease) in cash and cash equivalents during the period	(12,268)	5,659
Cash and cash equivalents, beginning of period	151,024	149,158
Cash and cash equivalents, end of period	138,756	154,817
Supplemental Cash Flow Information
Cash paid for state and local minimum income taxes	$ 220	$ 209

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (12,214)	$ (11,280)	$ (31,382)	$ (37,359)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024 shares
Insider Trading Arrangements [Line Items]
Trading Arrangement, Individual Name	Steffen Thomas
Trading Arrangement, Individual Title	director
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Trading Arrangement Adoption Date	May 28, 2024
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Trading Arrangement, Securities Aggregate Available Amount	245,500

Business Description

Business Description	9 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description	Note 1 Business Description Business Anavex Life Sciences Corp. (“Anavex” or the “Company”) is a clinical stage biopharmaceutical company engaged in the development of differentiated therapeutics by applying precision medicine to central nervous system (“CNS”) diseases with high unmet need. Anavex analyzes genomic data from clinical trials to identify biomarkers, which are used in the analysis of its clinical trials for the treatment of neurodegenerative and neurodevelopmental diseases. The Company’s lead compound ANAVEX ®

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 2 Basis of Presentation Basis of Presentation These accompanying unaudited condensed consolidated interim financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim reporting. Accordingly, certain information and note disclosures normally included in the annual financial statements in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the disclosures are adequate to make the information presented not misleading. These accompanying unaudited condensed consolidated interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management are necessary for fair presentation of the information contained herein. The consolidated balance sheet as of September 30, 2023 was derived from the audited annual financial statements but does not include all disclosures required by U.S. GAAP. The accompanying unaudited condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended September 30, 2023 filed with the SEC on November 27, 2023. The Company follows the same accounting policies in the preparation of interim reports. Operating results for the nine months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending September 30, 2024. Liquidity All of the Company’s potential drug compounds are in the clinical development stage and the Company cannot be certain that its research and development efforts will be successful or, if successful, that its potential drug compounds will ever be approved for sales to pharmaceutical companies or generate commercial revenues. To date, we have not generated any revenues from our operations. The Company expects the business to continue to experience negative cash flows from operations for the foreseeable future and cannot predict when, if ever, our business might become profitable. Management believes that the current working capital position will be sufficient to meet the Company’s working capital requirements beyond the next 12 months after the date that these condensed consolidated interim financial statements are issued. The process of drug development can be costly, and the timing and outcomes of clinical trials are uncertain. The assumptions upon which the Company has based its estimates are routinely evaluated and may be subject to change. The actual amount of the Company’s expenditures will vary depending upon a number of factors including but not limited to the design, timing and duration of future clinical trials, the progress of the Company’s research and development programs and the level of financial resources available. The Company has the ability to adjust its operating plan spending levels based on the timing of future clinical trials. Other than our rights related to the 2023 Purchase Agreement (as defined below in Note 5), there can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If the Company is not able to obtain the additional financing on a timely basis, if and when it is needed, it will be forced to delay or scale down some or all of its research and development activities. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to accounting for research and development costs, incentive income receivable, valuation and recoverability of deferred tax assets, share based compensation, and loss contingencies. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Principles of Consolidation These consolidated financial statements include the accounts of Anavex Life Sciences Corp. and its wholly-owned subsidiaries, Anavex Australia Pty Limited (“Anavex Australia”), a company incorporated under the laws of Australia, Anavex Germany GmbH, a company incorporated under the laws of Germany, and Anavex Canada Ltd., a company incorporated under the laws of the Province of Ontario, Canada. All inter-company transactions and balances have been eliminated. Fair Value Measurements The fair value hierarchy under GAAP is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 - assets and liabilities whose significant value drivers are unobservable by little or no market activity and that are significant to the fair value of the assets or liabilities. At June 30, 2024 and September 30, 2023, the Company did not have any Level 3 assets or liabilities. Basic and Diluted Loss per Share Basic income/(loss) per common share is computed by dividing net income/(loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted income/(loss) per common share is computed by dividing net income/(loss) available to common stockholders by the sum of (1) the weighted-average number of common shares outstanding during the period, (2) the dilutive effect of the assumed exercise of options and warrants using the treasury stock method and (3) the dilutive effect of other potentially dilutive securities. For purposes of the diluted net loss per share calculation, options and warrants are potentially dilutive securities and are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive. As of June 30, 2024 loss per share excludes 15,190,254 14,858,863 Recently Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07, “Segment Reporting: Improvements to Reportable Segment Disclosures.” This guidance requires disclosure of incremental segment information on an annual and interim basis. This amendment is effective for our fiscal year ending September 30, 2025 and our interim periods within the fiscal year ending September 30, 2026. The Company is currently assessing the impact of this guidance on its disclosures. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes: Improvements to Income Tax Disclosures.” This guidance requires consistent categories and greater disaggregation of information in the rate reconciliation and disclosures of income taxes paid by jurisdiction. This amendment is effective for our fiscal year ending September 30, 2026. The Company is currently assessing the impact of this guidance on its disclosures.

Other Income

Other Income	9 Months Ended
	Jun. 30, 2024
Other Income
Other Income	Note 3 Other Income Grant Income As of June 30, 2024, the Company had received a $ 1 ® 0.5 0.5 The grant income has been deferred when received and is being amortized to other income as the related research and development expenditures are incurred. During the three and nine months ended June 30, 2024, the Company recognized $ 0 0 0 25,000 0.9 0.9 Research and development incentive income Research and development incentive income represents the income earned by Anavex Australia of the Australia R&D credit. This cash incentive is received by Anavex Australia, upon filing of a claim in connection with Anavex Australia’s annual income tax return. During the three and nine months ended June 30, 2024 the Company recorded research and development incentive income of $ 0.5 0.8 1.6 2.4 0.6 0.9 2 3.1 At June 30, 2024, Incentive and tax receivables includes $ 1.5 2.3 2.5 3.9 The Australia R&D credit program is a self-assess program whereby the Company must assess its eligibility each year to determine (i) if the entity is eligible (ii) if the specific R&D activities are eligible and (iii) if the individual R&D expenditures have nexus to such R&D activities. The Company evaluates its eligibility under the tax incentive program as of each balance sheet date based on the most current and relevant data available. Anavex Australia is able to continue to claim the R&D tax incentive for as long as it remains eligible and continues to incur eligible research and development expenditures. Although the Company believes that it has complied with all the relevant conditions of eligibility under the program for all periods claimed, the Australian Tax Office (ATO) has the right to review the Company’s qualifying programs and related expenditures for a period of four years. If such a review were to occur, the ATO may have different interpretations of certain eligibility requirements. If the ATO disagreed with the Company’s assessments and any related subsequent appeals, it could require adjustment to and repayment of current or previous years’ claims already received. Additionally, if the Company was unable to demonstrate a reasonably arguable position taken on such claims, the ATO could also assess penalties and interest on such adjustment. Currently, the Company’s tax incentive claims from 2020 to 2023 are open to potential review by the ATO. Additionally, the period open for review is indefinite if the ATO suspects fraud. The Company has not provided any allowance for any such potential adjustments, should they occur in the future.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Note 4 Accrued Liabilities The principal components of accrued liabilities consist of (in thousands): Schedule of principal components of accrued liabilities June 30, September 30, 2024 2023 Accrued clinical site and patient visits costs $ 795 $ 2,006 Accrued compensation and benefits 1,030 1,360 Fixed contract accruals — 38 Milestone based contract accruals 3,231 1,267 All other accrued liabilities 2,278 2,624 Total accrued liabilities $ 7,334 $ 7,295

Equity Offerings

Equity Offerings	9 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Equity Offerings	Note 5 Equity Offerings Common Stock Common shares are voting and are entitled to dividends as declared at the discretion of the Board of Directors (the “Board”). Preferred Stock The Company’s Board has the authority to issue preferred stock in one or more series and to fix the rights, preferences, privileges, restrictions and the number of shares constituting any series or the designation of the series. 2020 Sales Agreement The Company entered into a Controlled Equity Offering Sales Agreement on July 6, 2018, which was amended and restated on May 1, 2020 (the “2020 Sales Agreement”) with Cantor Fitzgerald & Co. and SVB Leerink LLC (together the “Sales Agents”), pursuant to which the Company could offer and sell shares of common stock (“Shares”) registered under an effective registration statement from time to time through the Sales Agents (the “Offering”). Upon delivery of a placement notice based on the Company’s instructions and subject to the terms and conditions of the 2020 Sales Agreement, the Sales Agents could sell the Shares by methods deemed to be an “at the market” offering, in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices, or by any other method permitted by law, including negotiated transactions, subject to the prior written consent of the Company. The Company was not obligated to make any sales of Shares under the 2020 Sales Agreement. The Company or Sales Agents could suspend or terminate the offering of Shares upon notice to the other party, subject to certain conditions. The Sales Agents would act as agents on a commercially reasonable efforts basis consistent with their normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of Nasdaq. The Company agreed to pay the Sales Agents commissions for their services of up to 3.0 no 142.4 142.4 2023 Purchase Agreement On February 3, 2023, the Company entered into a $150.0 million purchase agreement (the “2023 Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park”), pursuant to which the Company has the right to sell and issue to Lincoln Park, and Lincoln Park is obligated to purchase, up to $150.0 million in value of its shares of common stock from time to time over a three-year period until February 3, 2026. In consideration for entering into the 2023 Purchase Agreement, the Company issued to Lincoln Park 75,000 75,000 150 0.8 0.1 During the nine months ended June 30, 2024, the Company issued to Lincoln Park an aggregate of 2,455,646 2,450,000 11,283,200 5,646 3,138,348 3,125,000 26,687,017 13,348 75,000 At June 30, 2024, an amount of $ 110.8

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 6 Commitments and Contingencies Leases The Company leases office space under an operating lease with an initial term of 12 months or less. Under the terms of the office lease, the Company is required to pay its proportionate share of operating costs. During the three and nine months ended June 30, 2024 and 2023, operating lease costs were as follows (in thousands): Schedule of operating lease costs Three months ended June 30, Nine months ended June 30, 2024 2023 2024 2023 Operating lease costs $ 31 $ 25 $ 92 $ 85 Employee 401(k) Benefit Plan The Company has a defined-contribution savings plan under Section 401(k) of the Internal Revenue Code. The plan covers all United States based employees. United States based employees eligible to participate in the plan may contribute up to the current statutory limits under the Internal Revenue Service regulations. The 401(k) plan permits the Company to make additional matching contributions on behalf of contributing employees. During the three and nine months ended June 30, 2024 and 2023, the Company made matching contributions under the 401(k) plan as follows (in thousands): Schedule of contributions plan Three months ended June 30, Nine months ended June 30, 2024 2023 2024 2023 Contributions to 401(k) plan $ 56 $ 76 $ 223 $ 176 Litigation The Company is subject to claims and legal proceedings that arise in the ordinary course of business. Such matters are inherently uncertain, and there can be no guarantee that the outcome of any such matter will be decided favorably to the Company or that the resolution of any such matter will not have a material adverse effect upon the Company’s consolidated financial statements. The Company does not believe that any of such pending claims and legal proceedings will have a material adverse effect on its consolidated financial statements. On March 13, 2024, a shareholder class action complaint was filed in the United States District Court for the Southern District of New York. The complaint is captioned Blum v. Anavex Life Sciences, Corp. et al., case number 1:24-cv-01910, and names the Company and Christopher Missling as Defendants. The complaint alleges violations of the Securities and Exchange Act of 1934 resulting from disclosures and statements made about certain clinical trials for ANAVEX ® On May 8, 2024, another purported shareholder of the Company filed a similar lawsuit against the same defendants that raised similar allegations and in addition, raised allegations related to disclosures and statements made about the AVATAR trial. The shareholder sought to consolidate the cases and be appointed lead plaintiff of the consolidated action. The court denied the consolidation motion and lead plaintiff motion on June 13, 2024. The Company plans to vigorously defend the lawsuit. On May 13, 2024, a purported shareholder filed a derivative lawsuit on behalf of the Company against the board of directors. The complaint asserts various common law claims (including breach of fiduciary duty) and violation of Section 14(a) regarding the same allegations at issue in the two purported class action lawsuits related to disclosures and statements made about certain clinical trials. The Company is named as a Nominal Defendant. The defendants plan to vigorously defend the lawsuit. Share Purchase Warrants A summary of the status of the Company’s outstanding share purchase warrants is presented below: Schedule of warrants outstanding Number of Warrants Weighted Average Exercise Price Balance, September 30, 2022 160,000 3.72 — — Balance, September 30, 2022 and 2023 160,000 3.72 Expired (150,000 ) 3.17 Balance, June 30, 2024 10,000 12.00 At June 30, 2024, the Company had share purchase warrants outstanding as follows: Schedule of share purchase warrants outstanding Number Exercise Price Expiry Date 10,000 $ 12.00 April 21, 2026 Stock–based Compensation Plan 2015 Stock Option Plan On September 18, 2015, the Company’s Board approved a 2015 Omnibus Incentive Plan (the “2015 Plan”), which provided for the grant of stock options and restricted stock awards to directors, officers, employees and consultants of the Company. The maximum number of our common shares reserved for issue under the plan was 6,050,553 2019 Stock Option Plan On January 15, 2019, the Board approved the 2019 Omnibus Incentive Plan (the “2019 Plan”), which provides for the grant of stock options and restricted stock awards to directors, officers, employees, consultants and advisors of the Company. The maximum number of our common shares reserved for issue under the plan was 6,000,000 During the year ended September 30, 2022, 406,453 2022 Stock Option Plan On March 25, 2022, the Board approved the 2022 Omnibus Incentive Plan (the “2022 Plan”). The 2022 Plan was approved by stockholders on May 24, 2022. Under the terms of the 2022 Plan, 10,000,000 The 2022 Plan provides that it may be administered by the Board, or the Board may delegate such responsibility to a committee. The exercise price will be determined by the Board at the time of grant shall be at least equal to the fair market value on such date. If the grantee is a 10% stockholder on the grant date, then the exercise price shall not be less than 110% of fair market value of the Company’s shares of common stock on the grant date. Stock options may be granted under the 2022 Plan for an exercise period of up to ten years from the date of grant of the option or such lesser periods as may be determined by the Board, subject to earlier termination in accordance with the terms of the 2022 Plan. At June 30, 2024, 5,300,000 5,319,702 The following summarizes information about stock option activity during the year ended September 30, 2023 and nine months ended June 30, 2024: Schedule of stock option activity Number of Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Aggregate intrinsic value Outstanding, September 30, 2022 13,169,616 6.61 4.96 62,267,309 Granted 1,959,000 9.30 6.60 — Exercised (759,753 ) 2.34 0.95 4,629,026 Forfeited (257,083 ) 12.00 6.74 — Outstanding, September 30, 2023 14,111,780 7.12 5.27 22,290,069 Granted 1,815,500 5.48 3.96 — Exercised (273,360 ) 2.53 1.11 601,407 Forfeited (473,666 ) 11.78 8.17 — Outstanding, June 30, 2024 15,180,254 6.86 7,471,069 Exercisable, June 30, 2024 9,826,089 5.50 7,452,002 The following summarizes information about stock options at June 30, 2024 by a range of exercise prices: Schedule of stock options exercise prices Range of exercises prices Number of Weighted average remaining Weighted Number of Weighted From To outstanding options contractual life (in years) average exercise price vested options average exercise price $ 0.92 $ 3.00 3,015,700 4.04 $ 2.39 3,015,700 $ 2.39 $ 3.01 $ 5.00 2,232,500 4.17 $ 3.41 2,035,416 $ 3.29 $ 5.01 $ 9.00 6,660,554 6.32 $ 6.57 3,469,639 $ 6.20 $ 9.01 $ 13.00 1,806,500 7.57 $ 10.46 729,917 $ 11.05 $ 13.01 $ 25.00 1,465,000 6.70 $ 18.18 575,417 $ 18.41 15,180,254 5.73 $ 6.86 9,826,089 $ 5.50 The weighted average grant date fair value of options vested at June 30, 2024 was $ 4.34 3.94 5.7 6.0 4.2 4.75 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted market price of the Company’s stock for the options that were in-the-money at June 30, 2024. During the three and nine months ended June 30, 2024, the Company recognized stock-based compensation expense of $ 2.5 7.4 3.9 13.2 Schedule of stock-based compensation Three months ended June 30, Nine months ended June 30, 2024 2023 2024 2023 General and administrative $ 997 $ 1,451 $ 2,901 $ 4,451 Research and development 1,491 2,415 4,524 8,732 Total stock-based compensation $ 2,488 $ 3,866 $ 7,425 $ 13,183 An amount of approximately $ 10.6 The fair value of each option award granted during the three and nine months ended June 30, 2024 and 2023 is estimated on the date of grant using the Black Scholes option pricing model based on the following weighted average assumptions: Schedule of weighted average assumptions 2024 2023 Risk-free interest rate 4.29 % 3.69 % Expected life of options (years) 5.77 5.63 Annualized volatility 84.82 % 85.16 % Dividend rate 0.00 % 0.00 % The fair value of stock compensation charges recognized during the three and nine months ended June 30, 2024 and 2023 was determined with reference to the quoted market price of the Company’s shares on the grant date.

Subsequent Events

Subsequent Events	9 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 7 Subsequent Events On July 24, 2024, the Company terminated the 2020 Sales Agreement.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation These accompanying unaudited condensed consolidated interim financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim reporting. Accordingly, certain information and note disclosures normally included in the annual financial statements in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the disclosures are adequate to make the information presented not misleading. These accompanying unaudited condensed consolidated interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management are necessary for fair presentation of the information contained herein. The consolidated balance sheet as of September 30, 2023 was derived from the audited annual financial statements but does not include all disclosures required by U.S. GAAP. The accompanying unaudited condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended September 30, 2023 filed with the SEC on November 27, 2023. The Company follows the same accounting policies in the preparation of interim reports. Operating results for the nine months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending September 30, 2024.
Liquidity	Liquidity All of the Company’s potential drug compounds are in the clinical development stage and the Company cannot be certain that its research and development efforts will be successful or, if successful, that its potential drug compounds will ever be approved for sales to pharmaceutical companies or generate commercial revenues. To date, we have not generated any revenues from our operations. The Company expects the business to continue to experience negative cash flows from operations for the foreseeable future and cannot predict when, if ever, our business might become profitable. Management believes that the current working capital position will be sufficient to meet the Company’s working capital requirements beyond the next 12 months after the date that these condensed consolidated interim financial statements are issued. The process of drug development can be costly, and the timing and outcomes of clinical trials are uncertain. The assumptions upon which the Company has based its estimates are routinely evaluated and may be subject to change. The actual amount of the Company’s expenditures will vary depending upon a number of factors including but not limited to the design, timing and duration of future clinical trials, the progress of the Company’s research and development programs and the level of financial resources available. The Company has the ability to adjust its operating plan spending levels based on the timing of future clinical trials. Other than our rights related to the 2023 Purchase Agreement (as defined below in Note 5), there can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If the Company is not able to obtain the additional financing on a timely basis, if and when it is needed, it will be forced to delay or scale down some or all of its research and development activities.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to accounting for research and development costs, incentive income receivable, valuation and recoverability of deferred tax assets, share based compensation, and loss contingencies. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
Principles of Consolidation	Principles of Consolidation These consolidated financial statements include the accounts of Anavex Life Sciences Corp. and its wholly-owned subsidiaries, Anavex Australia Pty Limited (“Anavex Australia”), a company incorporated under the laws of Australia, Anavex Germany GmbH, a company incorporated under the laws of Germany, and Anavex Canada Ltd., a company incorporated under the laws of the Province of Ontario, Canada. All inter-company transactions and balances have been eliminated.
Fair Value Measurements	Fair Value Measurements The fair value hierarchy under GAAP is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 - assets and liabilities whose significant value drivers are unobservable by little or no market activity and that are significant to the fair value of the assets or liabilities. At June 30, 2024 and September 30, 2023, the Company did not have any Level 3 assets or liabilities.
Basic and Diluted Loss per Share	Basic and Diluted Loss per Share Basic income/(loss) per common share is computed by dividing net income/(loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted income/(loss) per common share is computed by dividing net income/(loss) available to common stockholders by the sum of (1) the weighted-average number of common shares outstanding during the period, (2) the dilutive effect of the assumed exercise of options and warrants using the treasury stock method and (3) the dilutive effect of other potentially dilutive securities. For purposes of the diluted net loss per share calculation, options and warrants are potentially dilutive securities and are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive. As of June 30, 2024 loss per share excludes 15,190,254 14,858,863
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-07, “Segment Reporting: Improvements to Reportable Segment Disclosures.” This guidance requires disclosure of incremental segment information on an annual and interim basis. This amendment is effective for our fiscal year ending September 30, 2025 and our interim periods within the fiscal year ending September 30, 2026. The Company is currently assessing the impact of this guidance on its disclosures. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes: Improvements to Income Tax Disclosures.” This guidance requires consistent categories and greater disaggregation of information in the rate reconciliation and disclosures of income taxes paid by jurisdiction. This amendment is effective for our fiscal year ending September 30, 2026. The Company is currently assessing the impact of this guidance on its disclosures.

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Schedule of principal components of accrued liabilities	Schedule of principal components of accrued liabilities June 30, September 30, 2024 2023 Accrued clinical site and patient visits costs $ 795 $ 2,006 Accrued compensation and benefits 1,030 1,360 Fixed contract accruals — 38 Milestone based contract accruals 3,231 1,267 All other accrued liabilities 2,278 2,624 Total accrued liabilities $ 7,334 $ 7,295

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of operating lease costs	Schedule of operating lease costs Three months ended June 30, Nine months ended June 30, 2024 2023 2024 2023 Operating lease costs $ 31 $ 25 $ 92 $ 85
Schedule of contributions plan	Schedule of contributions plan Three months ended June 30, Nine months ended June 30, 2024 2023 2024 2023 Contributions to 401(k) plan $ 56 $ 76 $ 223 $ 176
Schedule of warrants outstanding	Schedule of warrants outstanding Number of Warrants Weighted Average Exercise Price Balance, September 30, 2022 160,000 3.72 — — Balance, September 30, 2022 and 2023 160,000 3.72 Expired (150,000 ) 3.17 Balance, June 30, 2024 10,000 12.00
Schedule of share purchase warrants outstanding	Schedule of share purchase warrants outstanding Number Exercise Price Expiry Date 10,000 $ 12.00 April 21, 2026
Schedule of stock option activity	Schedule of stock option activity Number of Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Aggregate intrinsic value Outstanding, September 30, 2022 13,169,616 6.61 4.96 62,267,309 Granted 1,959,000 9.30 6.60 — Exercised (759,753 ) 2.34 0.95 4,629,026 Forfeited (257,083 ) 12.00 6.74 — Outstanding, September 30, 2023 14,111,780 7.12 5.27 22,290,069 Granted 1,815,500 5.48 3.96 — Exercised (273,360 ) 2.53 1.11 601,407 Forfeited (473,666 ) 11.78 8.17 — Outstanding, June 30, 2024 15,180,254 6.86 7,471,069 Exercisable, June 30, 2024 9,826,089 5.50 7,452,002
Schedule of stock options exercise prices	Schedule of stock options exercise prices Range of exercises prices Number of Weighted average remaining Weighted Number of Weighted From To outstanding options contractual life (in years) average exercise price vested options average exercise price $ 0.92 $ 3.00 3,015,700 4.04 $ 2.39 3,015,700 $ 2.39 $ 3.01 $ 5.00 2,232,500 4.17 $ 3.41 2,035,416 $ 3.29 $ 5.01 $ 9.00 6,660,554 6.32 $ 6.57 3,469,639 $ 6.20 $ 9.01 $ 13.00 1,806,500 7.57 $ 10.46 729,917 $ 11.05 $ 13.01 $ 25.00 1,465,000 6.70 $ 18.18 575,417 $ 18.41 15,180,254 5.73 $ 6.86 9,826,089 $ 5.50
Schedule of stock-based compensation	Schedule of stock-based compensation Three months ended June 30, Nine months ended June 30, 2024 2023 2024 2023 General and administrative $ 997 $ 1,451 $ 2,901 $ 4,451 Research and development 1,491 2,415 4,524 8,732 Total stock-based compensation $ 2,488 $ 3,866 $ 7,425 $ 13,183
Schedule of weighted average assumptions	Schedule of weighted average assumptions 2024 2023 Risk-free interest rate 4.29 % 3.69 % Expected life of options (years) 5.77 5.63 Annualized volatility 84.82 % 85.16 % Dividend rate 0.00 % 0.00 %

Basis of Presentation (Details

Basis of Presentation (Details Narrative) - shares	9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Potentially dilutive common shares	15,190,254	14,858,863

Other Income (Details Narrative

Other Income (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2021
Research and development incentive income	$ 500,000	$ 600,000	$ 1,600,000	$ 2,000,000
Grant income	0	0	0	25,000
Deferred grant income	900,000		900,000		$ 900,000
Incentive and tax receivables	1,500,000		1,500,000		2,500,000
Australia, Dollars
Research and development incentive income	800,000	$ 900,000	2,400,000	$ 3,100,000
Incentive and tax receivables	$ 2,300,000		2,300,000		3,900,000
Anavex [Member]
Research and development incentive income					$ 500,000	$ 500,000
Michael J Fox [Member]
Research and development incentive income			$ 1,000,000

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued clinical site and patient visits costs	$ 795	$ 2,006
Accrued compensation and benefits	1,030	1,360
Fixed contract accruals	0	38
Milestone based contract accruals	3,231	1,267
All other accrued liabilities	2,278	2,624
Total accrued liabilities	$ 7,334	$ 7,295

Equity Offerings (Details Narra

Equity Offerings (Details Narrative) - USD ($)		9 Months Ended
	Feb. 03, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Sales of agreement amount		$ 142,400,000		$ 142,400,000
Fair value of the initial commitment	$ 800,000
Third Party [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Incurred expenses	$ 100,000
Equity Offering Sales Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of common stock sold		0	0
Equity Offering Sales Agreement [Member] | Cantor Fitzgerald And Co [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage of gross proceeds from sales		3%
Number of shares issued, shares		2,455,646	3,138,348
Purchase Agreement 1 [Member] | Lincoln Park Capita lFund LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of shares issued, shares	75,000		75,000
Pro rata basic number of shares obligated to purchase	75,000
Proceeds from Issuance or sale of equity	$ 150,000,000
Number of shares issued for common stock		2,450,000	3,125,000
Amount of shares remain available		$ 11,283,200	$ 26,687,017
Number of shares issued for commitment		5,646	13,348
Purchase Agreement 2023 [Member] | Lincoln Park Capita lFund LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Amount of shares remain available		$ 110,800,000

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease costs	$ 31	$ 25	$ 92	$ 85

Commitments and Contingencies_3

Commitments and Contingencies (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contributions to 401(k) plan	$ 56	$ 76	$ 223	$ 176

Commitments and Contingencies_4

Commitments and Contingencies (Details 2) - Purchase Warrants [Member] - $ / shares	9 Months Ended	12 Months Ended
	Jun. 30, 2024	Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Warrants Outstanding, Beginning balance	160,000	160,000
Weighted Average Exercise Price Outstanding, Beginning balance	$ 3.72	$ 3.72
Number of Warrants, Expired	(150,000)
Weighted Average Exercise Price Outstanding, Expired	$ 3.17
Number of Warrants Outstanding, Ending balance	10,000	160,000
Weighted Average Exercise Price Outstanding, Ending balance	$ 12	$ 3.72

Commitments and Contingencies_5

Commitments and Contingencies (Details 3) - Purchase Warrants [Member]	Jun. 30, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Warrants | shares	10,000
Exercise Price | $ / shares	$ 12
Expiry Date	Apr. 21, 2026

Commitments and Contingencies_6

Commitments and Contingencies (Details 4) - Equity Option [Member] - USD ($)	9 Months Ended	12 Months Ended
	Jun. 30, 2024	Sep. 30, 2023
Offsetting Assets [Line Items]
Number of Options Outstanding at Beginning	14,111,780	13,169,616
Weighted Average Exercise Price Outstanding at Beginning	$ 7.12	$ 6.61
Weighted Average Grant Date Fair Value at Beginning	$ 5.27	$ 4.96
Aggregate Intrinsic Value Outstanding at Beginning	$ 22,290,069	$ 62,267,309
Number of Options, Granted	1,815,500	1,959,000
Weighted Average Exercise Price, Granted	$ 5.48	$ 9.30
Weighted Average Grant Date Fair Value, Granted	$ 3.96	$ 6.60
Number of Options, Exercised	(273,360)	(759,753)
Weighted Average Exercise Price, Exercised	$ 2.53	$ 2.34
Weighted Average Grant Date Fair Value, Exercised	$ 1.11	$ 0.95
Aggregate Intrinsic Value, Exercised	$ 601,407	$ 4,629,026
Number of Options, Forfeited	(473,666)	(257,083)
Weighted Average Exercise Price, Forfeited	$ 11.78	$ 12
Weighted Average Grant Date Fair Value, Forfeited	$ 8.17	$ 6.74
Number of Options Outstanding at Ending	15,180,254	14,111,780
Weighted Average Exercise Price Outstanding at Ending	$ 6.86	$ 7.12
Aggregate Intrinsic Value Outstanding at Ending	$ 7,471,069	$ 22,290,069
Number of Options, Exercisable	9,826,089
Weighted Average Exercise Price, Exercisable	$ 5.50
Aggregate Intrinsic Value, Exercisable	$ 7,452,002

Commitments and Contingencies_7

Commitments and Contingencies (Details 5) - Equity Option [Member] - $ / shares	9 Months Ended
	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Offsetting Assets [Line Items]
Number of outstanding options	15,180,254	14,111,780	13,169,616
Weighted average remaining contractual life (in years)	5 years 8 months 23 days
Weighted average exercise price	$ 6.86	$ 7.12	$ 6.61
Number of vested options	9,826,089
Weighted average exercise price options vested	$ 5.50
Option Price 1 [Member]
Offsetting Assets [Line Items]
Range of exercise prices, lower range limit	0.92
Range of exercise prices, upper range limit	$ 3
Number of outstanding options	3,015,700
Weighted average remaining contractual life (in years)	4 years 14 days
Weighted average exercise price	$ 2.39
Number of vested options	3,015,700
Weighted average exercise price options vested	$ 2.39
Option Price 2 [Member]
Offsetting Assets [Line Items]
Range of exercise prices, lower range limit	3.01
Range of exercise prices, upper range limit	$ 5
Number of outstanding options	2,232,500
Weighted average remaining contractual life (in years)	4 years 2 months 1 day
Weighted average exercise price	$ 3.41
Number of vested options	2,035,416
Weighted average exercise price options vested	$ 3.29
Option Price 3 [Member]
Offsetting Assets [Line Items]
Range of exercise prices, lower range limit	5.01
Range of exercise prices, upper range limit	$ 9
Number of outstanding options	6,660,554
Weighted average remaining contractual life (in years)	6 years 3 months 25 days
Weighted average exercise price	$ 6.57
Number of vested options	3,469,639
Weighted average exercise price options vested	$ 6.20
Option Price 4 [Member]
Offsetting Assets [Line Items]
Range of exercise prices, lower range limit	9.01
Range of exercise prices, upper range limit	$ 13
Number of outstanding options	1,806,500
Weighted average remaining contractual life (in years)	7 years 6 months 25 days
Weighted average exercise price	$ 10.46
Number of vested options	729,917
Weighted average exercise price options vested	$ 11.05
Option Price 5 [Member]
Offsetting Assets [Line Items]
Range of exercise prices, lower range limit	13.01
Range of exercise prices, upper range limit	$ 25
Number of outstanding options	1,465,000
Weighted average remaining contractual life (in years)	6 years 8 months 12 days
Weighted average exercise price	$ 18.18
Number of vested options	575,417
Weighted average exercise price options vested	$ 18.41

Commitments and Contingencies_8

Commitments and Contingencies (Details 6) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Loss Contingencies [Line Items]
Total stock-based compensation	$ 2,488	$ 3,866	$ 7,425	$ 13,183
General and Administrative Expense [Member]
Loss Contingencies [Line Items]
Total stock-based compensation	997	1,451	2,901	4,451
Research and Development Expense [Member]
Loss Contingencies [Line Items]
Total stock-based compensation	$ 1,491	$ 2,415	$ 4,524	$ 8,732

Commitments and Contingencies_9

Commitments and Contingencies (Details 7)	9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Risk-free interest rate	4.29%	3.69%
Expected life of options (years)	5 years 9 months 7 days	5 years 7 months 17 days
Annualized volatility	84.82%	85.16%
Dividend rate	0%	0%

Commitments and Contingencie_10

Commitments and Contingencies (Details Narrative) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 2.5	$ 3.9	$ 7.4	$ 13.2
Remaining stock based compensation	$ 10.6		$ 10.6
Options Held [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value of options vested			$ 4.34		$ 3.94
Weighted average contractual life of options outstanding			5 years 8 months 12 days		6 years
Weighted average contractual life of options exercisable			4 years 2 months 12 days		4 years 9 months
Stock Option Plan 2015 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common shares reserved for future issuance	6,050,553		6,050,553
Stock Option Plan 2019 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Additional shares of common stock available for issuance			6,000,000
Option granted						406,453
Stock Option Plan 2022 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Additional shares of common stock available for issuance			10,000,000
Option issued			5,300,000
Option available issuance	5,319,702		5,319,702