EyeGate Pharmaceuticals (EYEG) 10-Q 8 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 04, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-36672
Entity Registrant Name	KIORA PHARMACEUTICALS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0443284
Entity Address, Address Line One	332 Encinitas Blvd.
Entity Address, Address Line Two	Suite 102
Entity Address, City or Town	Encinitas
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92024
City Area Code	858
Local Phone Number	224-9600
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	KPRX
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		7,247,050
Entity Central Index Key	0001372514
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and Cash Equivalents	$ 7,951,650	$ 5,964,556
Prepaid Expenses and Other Current Assets	266,500	343,069
Tax Receivables	804,511	1,373,041
Total Current Assets	9,022,661	7,680,666
Non-Current Assets:
Property and Equipment, Net	44,883	55,177
Restricted Cash	4,150	49,260
Intangible Assets and In-Process R&D, Net	10,730,664	10,743,164
Operating Lease Assets with Right-of-Use	50,219	116,992
Other Assets	32,366	33,000
Total Assets	19,884,943	18,678,259
Current Liabilities:
Accounts Payable	131,319	1,008,262
Accrued Expenses	1,399,034	1,835,934
Operating Lease Liabilities	39,009	105,782
Contingent Consideration, short-term	313,853	322,385
Total Current Liabilities	1,883,215	3,272,363
Non-Current Liabilities:
Contingent Consideration	3,670,252	3,309,175
Deferred Tax Liability	689,121	689,121
Total Non-Current Liabilities	4,359,373	3,998,296
Total Liabilities	6,242,588	7,270,659
Commitments and Contingencies (Note 8)
Stockholders' Equity:
Preferred Stock, $0.01 Par Value: 10,000,000 shares authorized	10	0
Common Stock, $0.01 Par Value: 50,000,000 shares authorized; 6,910,720 and 1,796,472 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	69,129	17,986
Additional Paid-In Capital	152,744,385	146,035,314
Accumulated Deficit	(138,945,308)	(134,462,959)
Accumulated Other Comprehensive Loss	(225,861)	(182,741)
Total Stockholders’ Equity	13,642,355	11,407,600
Total Liabilities and Stockholders’ Equity	$ 19,884,943	$ 18,678,259

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares, issued (in shares)	6,910,720	1,796,472
Common stock outstanding (in shares)	6,910,720	1,796,472
Series A Preferred Stock
Preferred stock designated shares (in shares)	3,750	3,750
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series B Preferred Stock
Preferred stock designated shares (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series C Preferred Stock
Preferred stock designated shares (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series D Preferred Stock
Preferred stock designated shares (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	7	7
Preferred stock, shares outstanding (in shares)	7	7
Series E Preferred Stock
Preferred stock designated shares (in shares)	1,280	1,280
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series F Preferred Stock
Preferred stock designated shares (in shares)	3,908
Preferred stock, shares issued (in shares)	950	0
Preferred stock, shares outstanding (in shares)	950	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating Expenses:
General and Administrative	$ 1,097,294	$ 1,801,878	$ 2,366,752	$ 3,466,669
Research and Development	1,392,099	567,227	1,830,382	1,275,155
Executive Severance	0	0	0	962,833
Change in Fair Value of Contingent Consideration	143,619	32,943	352,545	266,833
Total Operating Expenses	2,633,012	2,402,048	4,549,679	5,971,490
Operating Loss	(2,633,012)	(2,402,048)	(4,549,679)	(5,971,490)
Other Income, Net:
Gain on Disposal of Fixed Assets	0	0	0	4,211
Interest Income, Net	45,087	1,237	78,552	1,454
Other Expense, Net	(25,888)	0	(11,222)	0
Total Other Income, Net	19,199	1,237	67,330	5,665
Net Loss	$ (2,613,813)	$ (2,400,811)	$ (4,482,349)	$ (5,965,825)
Net Loss per Common Share - Basic (in usd per share)	$ (0.79)	$ (0.18)	$ (1.74)	$ (0.46)
Net Loss per Common Share - Diluted (in usd per share)	$ (0.79)	$ (0.18)	$ (1.74)	$ (0.46)
Weighted Average Shares Outstanding - Basic (in shares)	3,289,774	13,065,714	2,580,560	13,061,281
Weighted Average Shares Outstanding - Diluted (in shares)	3,289,774	13,065,714	2,580,560	13,061,281
Other Comprehensive Loss:
Net Loss	$ (2,613,813)	$ (2,400,811)	$ (4,482,349)	$ (5,965,825)
Foreign Currency Translation Adjustments	(10,449)	(166,269)	(43,120)	(138,430)
Comprehensive Loss	$ (2,624,262)	$ (2,567,080)	$ (4,525,469)	$ (6,104,255)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock	Public Offering	Private Placement Common Stock	ELOC Purchases Common Stock	Preferred Stock	Preferred Stock Series F Preferred Stock	Preferred Stock Public Offering	Common Stock	Common Stock Common Stock	Common Stock Series F Preferred Stock	Common Stock Public Offering	Common Stock Private Placement Common Stock	Common Stock ELOC Purchases Common Stock	Additional Paid-In Capital	Additional Paid-In Capital Common Stock	Additional Paid-In Capital Series F Preferred Stock	Additional Paid-In Capital Public Offering	Additional Paid-In Capital Private Placement Common Stock	Additional Paid-In Capital ELOC Purchases Common Stock	Accumulated Deficit	Accumulated Other Comprehensive Loss
Balance at Dec. 31, 2021	$ 14,579,048					$ 0			$ 3,166						$ 135,541,662						$ (120,879,349)	$ (86,431)
Balance (in shares) at Dec. 31, 2021						7			316,599
Stock-Based Compensation	287,175														287,175
Issuance of Common Stock from Panoptes Holdback Shares									$ 100						(100)
Issuance of Common Stock from Panoptes Holdback Shares (in shares)									10,087
Foreign Currency Translation Adjustment	(138,430)																					(138,430)
Net Loss	(5,965,825)																				(5,965,825)
Balance at Jun. 30, 2022	8,761,968					$ 0			$ 3,266						135,828,737						(126,845,174)	(224,861)
Balance (in shares) at Jun. 30, 2022						7			326,686
Balance at Mar. 31, 2022	11,257,794					$ 0			$ 3,166						135,757,583						(124,444,363)	(58,592)
Balance (in shares) at Mar. 31, 2022						7			316,599
Stock-Based Compensation	71,254														71,254
Issuance of Common Stock from Panoptes Holdback Shares									$ 100						(100)
Issuance of Common Stock from Panoptes Holdback Shares (in shares)									10,087
Foreign Currency Translation Adjustment	(166,269)																					(166,269)
Net Loss	(2,400,811)																				(2,400,811)
Balance at Jun. 30, 2022	8,761,968					$ 0			$ 3,266						135,828,737						(126,845,174)	(224,861)
Balance (in shares) at Jun. 30, 2022						7			326,686
Balance at Dec. 31, 2022	11,407,600					$ 0			$ 17,986						146,035,314						(134,462,959)	(182,741)
Balance (in shares) at Dec. 31, 2022						7			1,796,472
Stock-Based Compensation	307,736														307,736
Issuance of Common Stock and Preferred Stock			$ 5,595,962	$ 115,715	$ 442,310			$ 39				$ 21,976	$ 528	$ 1,250				$ 5,573,947	$ 115,187	$ 441,060
Issuance of Preferred Stock (in shares)								3,908				2,197,628	52,798	125,000
Issuance of Common Stock from Warrant Exercises		$ 298,500								$ 500						$ 298,000
Issuance of Common Stock from Warrant Exercises (in shares)										50,000
Conversion of Preferred Stock into Common Stock							$ (29)				$ 26,889						$ (26,859)
Conversion of Preferred Stock into Common Stock (in shares)							(2,958)				2,688,822
Foreign Currency Translation Adjustment	(43,120)																					(43,120)
Net Loss	(4,482,349)																				(4,482,349)
Balance at Jun. 30, 2023	13,642,355					$ 10			$ 69,129						152,744,385						(138,945,308)	(225,861)
Balance (in shares) at Jun. 30, 2023						957			6,910,720
Balance at Mar. 31, 2023	10,155,509					$ 0			$ 19,214						146,683,202						(136,331,495)	(215,412)
Balance (in shares) at Mar. 31, 2023						7			1,919,270
Stock-Based Compensation	171,795														171,795
Issuance of Common Stock and Preferred Stock			$ 5,595,962		$ 343,350			$ 39				$ 21,976		$ 1,050				$ 5,573,947		$ 342,300
Issuance of Preferred Stock (in shares)								3,908				2,197,628		105,000
Conversion of Preferred Stock into Common Stock							$ (29)				$ 26,889						$ (26,859)
Conversion of Preferred Stock into Common Stock (in shares)							(2,958)				2,688,822
Foreign Currency Translation Adjustment	(10,449)																					(10,449)
Net Loss	(2,613,813)																				(2,613,813)
Balance at Jun. 30, 2023	$ 13,642,355					$ 10			$ 69,129						$ 152,744,385						$ (138,945,308)	$ (225,861)
Balance (in shares) at Jun. 30, 2023						957			6,910,720

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Public Offering
Offering Costs	$ 729,038	$ 729,038
Private Placement | Common Stock
Offering Costs		$ 84,285

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating Activities:
Net Loss	$ (4,482,349)	$ (5,965,825)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:
Depreciation and Amortization of Intangible Assets	32,555	21,054
Reduction of Right-of-Use Assets	66,999	87,242
Stock-Based Compensation	307,736	287,175
Change in Fair Value of Contingent Consideration	352,545	266,833
Gain on Disposal of Equipment	0	(4,211)
Changes in Operating Assets and Liabilities:
Prepaid Expenses and Other Current Assets	74,544	(838,528)
Tax Receivables	556,178	(68,046)
Other Assets	714	(3,397)
Accounts Payable	(863,663)	641,443
Operating Lease Liabilities	(66,999)	(96,682)
Accrued Expenses	(432,773)	341,616
Net Cash Used in Operating Activities	(4,454,513)	(5,331,326)
Investing Activities:
Proceeds on Sale of Equipment	0	6,375
Net Cash Provided by Investing Activities	0	6,375
Financing Activities:
Proceeds from Private Placement, Net of Offering Costs	200,000	0
Exercise of Warrants	298,500	0
Net Cash Provided by Financing Activities	6,452,487	0
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	(55,990)	(97,530)
Net Change in Cash, Cash Equivalents and Restricted Cash	1,941,984	(5,422,481)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	6,013,816	7,899,690
Cash, Cash Equivalents and Restricted Cash, End of Period	7,955,800	2,477,209
Supplemental Disclosures of Noncash Operating and Financing Activities
Creation of Right-of-Use Assets and Related Lease Liabilities	0	55,415
Conversion of Preferred Stock into Common Stock	26,889	0
Public Offering
Financing Activities:
Proceeds from Public Offering and ELOC Purchases	6,325,000	0
Public and Private placement offering costs	(729,038)	0
Private Placement
Financing Activities:
Public and Private placement offering costs	(84,285)	0
ELOC Purchases
Financing Activities:
Proceeds from Public Offering and ELOC Purchases	$ 442,310	$ 0

Business, Presentation and Rece

Business, Presentation and Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business, Presentation and Recent Accounting Pronouncements	Business, Presentation and Recent Accounting Pronouncements Overview Kiora Pharmaceuticals, Inc. (“Kiora” or the “Company”) was formed as a Delaware corporation on December 28, 2004. Kiora is a clinical-stage specialty pharmaceutical company developing and commercializing therapies for the treatment of orphan retinal diseases. Since its inception, Kiora has devoted substantially all its efforts to business planning, research and development, and raising capital. Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Pursuant to these rules and regulations, they do not include all information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the Company’s consolidated financial condition and results of operations have been included. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the full year. We believe that the disclosures provided herein are adequate to make the information presented not misleading when these unaudited interim condensed consolidated financial statements are read in conjunction with the audited consolidated financial statements and notes previously distributed in the Company’s 2022 Annual Report on Form 10-K dated March 23, 2023. The balance sheet as of December 31, 2022 was derived from audited consolidated financial statements of the Company but does not include all the disclosures required by U.S. GAAP. Reverse Stock Split On September 23, 2022, the Company filed a Certificate of Amendment to its Restated Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Delaware to effect a one-for-forty ("1-for-40") reverse stock split of its outstanding common stock. The Amendment was approved by the Company’s stockholders at the Company’s 2022 Annual Meeting of Stockholders held on September 23, 2022, and by the Company’s board of directors. The amendment became effective on September 27, 2022. The reverse stock split affected all shares of the Company’s common stock outstanding immediately prior to the effective time of the Amendment. As a result of the reverse stock split, proportionate adjustments were made to the per share exercise price and/or the number of shares issuable upon the exercise or vesting of all stock options, and restricted stock awards issued by the Company and outstanding immediately prior to the effective time of the Amendment, which resulted in a proportionate decrease in the number of shares of the Company’s common stock reserved for issuance upon exercise or vesting of such stock options, and restricted stock awards, and, in the case of stock options, a proportionate increase in the exercise price of all such stock options. In addition, the number of shares reserved for issuance under the Company’s equity compensation plans immediately prior to the effective time of the Amendment was reduced proportionately. The reverse stock split did not affect the number of shares or par value of common stock authorized for issuance under the Company’s Amended and Restated Certificate of Incorporation, which remained at 50,000,000 shares. No fractional shares were issued as a result of the reverse stock split. Stockholders of record who would otherwise have been entitled to receive a fractional share received a cash payment in lieu thereof. The reverse stock split affected all stockholders proportionately and did not affect any stockholder’s percentage ownership of the Company’s common stock (except to the extent that the reverse stock split results in any stockholder owning only a fractional share). As a result of the reverse stock split, the number of the Company’s outstanding shares of common stock as of September 27, 2022 decreased from 43,163,123 (pre-split) shares to 1,079,045 (post-split) shares. All share and per share amounts in the accompanying condensed consolidated financial statements, related footnotes, and management’s discussion and analysis have been adjusted retroactively to reflect the reverse stock split as if it had occurred at the beginning of the earliest period presented. While the number of warrants outstanding did not change, the underlying shares did and are presented reflecting the split. The Company’s common stock began trading on The Nasdaq Capital Market on a split-adjusted basis when the market opened on September 27, 2022. Going Concern The accompanying condensed consolidated financial statements have been prepared assuming that Kiora will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As of June 30, 2023, Kiora had unrestricted Cash and Cash Equivalents of $8.0 million, and an Accumulated Deficit of $138.9 million. Kiora has incurred losses and negative cash flows since inception, and future losses are anticipated. Based on the cash on hand as of June 30, 2023, the Company anticipates having sufficient cash to fund planned operations into May 2024, however, the acceleration or reduction of cash outflows by Company management can significantly impact the timing for the need to raise additional capital to complete development of its products. To continue development, Kiora will need to raise additional capital through equity financing, license agreements, and/or grants. Although historically the Company has been successful at raising capital, most recently raising net proceeds of approximately $5.6 million in a public offering that closed on June 6, 2023, as well as an equity line of credit that provides an additional $9.6 million (subject to certain limitations), additional capital may not be available on terms favorable to Kiora, if at all. The Company does not know if any future offerings will succeed. Accordingly, no assurances can be given that Company management will succeed in these endeavors. The factors described above have caused management to determine there is substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities or any other adjustments that might be necessary should the Company be unable to continue as a going concern. Significant Accounting Policies Refunds for Research and Development Kiora, through its Kiora Pharmaceuticals GmbH and Kiora Pharmaceuticals Pty Ltd subsidiaries, is entitled to receive certain refundable tax incentives associated with eligible research and development expenses in Austria and Australia, respectively. These refunds are realized in the form of a cash payment in the year following the incurred research and development expenses. The Company records estimates of the refundable payment as a tax receivable and a reduction in expense in the period in which the research and development expenses are incurred. Related-Party Transactions For the six months ended June 30, 2023, the Company made payments totaling approximately $0.1 million for services to a related party vendor, Ora, Inc., who is providing the Company with clinical study services for KIO-301. One of the Company’s directors is an executive at Ora, Inc. Adoption of Accounting Standards In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity . This guidance removes the liability and equity separation models for convertible instruments with a cash conversion feature or beneficial conversion feature. As a result, companies will more likely account for a convertible debt instrument wholly as debt, and for convertible preferred stock wholly as preferred stock (i.e., as a single unit of account). In addition, the guidance simplifies the settlement assessment that issuers perform to determine whether a contract in their own equity qualifies for equity classification. Finally, the guidance requires entities to use the if-converted method to calculate earnings per share for all convertible instruments. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. The Company adopted ASU 2020-06 on January 1, 2022. The adoption of ASU 2020-06 did not have a material effect for the Company. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) to clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. Specifically, the ASU provides a principles-based framework to determine whether an issuer should recognize the modification or exchange as an adjustment to equity or an expense. The guidance is effective for annual reporting periods beginning after December 15, 2021, and interim periods within those fiscal years. The Company adopted ASU 2021-04 on January 1, 2022. The adoption of ASU 2021-04 did not have a material effect for the Company. In November 2021, the FASB issued ASU 2021-10, which requires business entities to disclose information about certain government assistance they receive. Such disclosure requirements include the nature of the transactions and the related accounting policy used, the line items on the balance sheet and income statement that are affected and the amounts applicable to each financial statement line item and significant terms and conditions of the transactions. ASU 2021-10 was effective for the Company January 1, 2022. The adoption of ASU 2021-10 did not have a material effect for the Company.

Balance Sheet Information

Balance Sheet Information	6 Months Ended
	Jun. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Information	Balance Sheet Information Cash, Cash Equivalents and Restricted Cash A summary of cash and cash equivalents and restricted cash is as follows: June 30, 2023 December 31, 2022 Cash and Cash Equivalents $ 7,951,650 $ 5,964,556 Restricted Cash, Non-current 4,150 49,260 Total Cash, Cash Equivalents and Restricted Cash $ 7,955,800 $ 6,013,816 Non-current restricted cash consists of deposits with financial institutions for corporate credit cards. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following: June 30, 2023 December 31, 2022 Prepaid Insurance $ 112,307 $ 117,315 Prepaid Research and Development 86,352 128,429 Other 67,841 97,325 Total Prepaid Expenses and Other Current Assets $ 266,500 $ 343,069 Accrued Expenses Accrued expenses consist of the following: June 30, 2023 December 31, 2022 Payroll and Benefits $ 1,051,087 $ 1,312,443 Professional Fees 93,684 282,721 Clinical Trials 209,653 57,020 Other 44,610 183,750 Total Accrued Expenses $ 1,399,034 $ 1,835,934

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures Fair value is the price that would be received from the sale of an asset or paid to transfer a liability assuming an orderly transaction to a third party under current market conditions at the measurement date. U.S. GAAP establishes a hierarchical disclosure framework that prioritizes and ranks the level of observability of inputs used in measuring fair value. In connection with historical acquisitions, additional consideration may be paid related to the achievement of certain milestones and such contingent consideration is required by U.S. GAAP to be presented at fair value. The following table provides information for liabilities measured at fair value on a recurring basis using Level 3 inputs: June 30, 2023 December 31, 2022 Contingent Consideration: Current $ 313,853 $ 322,385 Non-current 3,670,252 3,309,175 Total Contingent Consideration $ 3,984,105 $ 3,631,560 The Company initially values contingent consideration related to business combinations using a probability-weighted calculation of potential payment scenarios discounted at rates reflective of the risks associated with the expected future cash flows for certain milestones. Key assumptions used to estimate the fair value of contingent consideration include projected financial information, market data and the probability and timing of achieving the specific milestones. After the initial valuation, the Company generally uses its best estimate to measure contingent consideration at each subsequent reporting period using the following unobservable Level 3 inputs: Valuation Technique Unobservable Inputs June 30, 2023 December 31, 2022 Discounted cash flow Payment discount rate 12.8 % 14.7 % Bayon Payment period 2023 - 2028 2023 - 2028 Panoptes Payment period 2024 - 2028 2024 - 2028 Jade Payment period 2026 2026 Bayon Probability of success for payment 17% - 67% 17% - 67% Panoptes Probability of success for payment 17% - 36% 17% - 36% Jade Probability of success for payment 56 % 56 % Significant changes in these assumptions could result in a significantly higher or lower fair value. The contingent consideration reported in the above table is adjusted quarterly based upon the passage of time or the anticipated success or failure of achieving certain milestones. The change in fair value of contingent consideration of $0.4 million for the six months ended June 30, 2023, was primarily driven by a decreased

Capital Stock

Capital Stock	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Capital Stock	Capital Stock In connection with the Company’s acquisition of Panoptes Pharma GmbH (“Panoptes”) in December 2020, on June 18, 2022, the Company issued an aggregate of 10,086 shares of common stock to former shareholders of Panoptes, which had been held back for a period of eighteen months following the closing of the Panoptes acquisition to satisfy post-closing adjustment and indemnification obligations pursuant to the terms of the Share Purchase Agreement between the Company and the former shareholders of Panoptes. On July 22, 2022, the Company entered into an underwriting agreement to issue and sell stock and warrants in a public offering. On July 25, 2022, the underwriter fully exercised the over-allotment option granted by the Company to purchase stock and warrants. On July 26, 2022, the public offering closed, and the Company issued and sold (i) 592,392 shares of common stock (including 98,138 shares of common stock sold pursuant to the exercise of the over-allotment option), (ii) 1,280 shares of Series E Convertible Preferred Stock convertible into up to 160,000 shares of common stock, (iii) 30,095,697 Class A Warrants (including 3,925,525 Class A Warrants sold pursuant to the exercise of the over-allotment option), and (iv) 30,095,697 Class B Warrants (including 3,925,525 Class B Warrants sold pursuant to the exercise of the over-allotment option). Upon exercise, the warrants will convert on a 40 for 1 basis into a total of 1,504,785 common shares. The public offering price of $8.00 per share of common stock, Class A Warrant and Class B Warrant or $1,000 per share of Series E Convertible Preferred Stock, 5,000 Class A Warrants and 5,000 Class B Warrants resulted in net proceeds to the Company of approximately $5.3 million net of underwriting discount and commissions of $0.4 million and expense of $0.3 million. Each warrant is exercisable at a price per share of common stock of $8.00. The Class A Warrants will expire on September 23, 2023 and the Class B Warrants will expire on September 23, 2027. The exercise prices of the warrants are subject to appropriate adjustment in the event of recapitalization events, stock dividends, stock splits, stock combinations, reclassifications, reorganizations or similar events affecting the Company’s common stock. During August 2022, all holders of the Series E Preferred Shares issued in the July 2022 public offering elected to convert their Series E Preferred Shares into 160,000 shares of common stock. On November 17, 2022, the Company entered into warrant exercise inducement offer letters with some of the Class A Warrant holders who agreed to exercise for cash all of their Class A Warrants to purchase 654,609 shares of common stock originally issued in the July 2022 public offering in exchange for the Company's agreement to issue new warrants (the “Inducement Warrants”) on substantially the same terms as the Class A Warrants to purchase up to 654,609 shares of common stock. Each Inducement Warrant is exercisable at a price per share of common stock of $5.97. Each Inducement Warrant became initially exercisable six months following its date of issuance, and will expire on the eighteen month anniversary of their initial exercise date. The Company received aggregate gross proceeds of approximately $3.1 million from the exercise of the Class A Warrants by the selling stockholders and the sale of the Inducement Warrants. The Company paid its placement agent in connection with the inducement transactions a fee equal to 8% of gross proceeds from the exercise of the Class A Warrants. On February 3, 2023, the Company completed a private placement with Lincoln Park Capital, LLC ("Lincoln Park") for 52,798 shares of common stock and warrants to purchase up to 105,596 shares of common stock. The total net proceeds from the private placement were approximately $0.1 million. The warrants have an exercise price of $3.538 per share, subject to adjustments as provided under the terms of the warrants, and will be exercisable on the six-month anniversary of the closing date. The warrants are exercisable for five years from the issuance date. On February 3, 2023, the Company also entered into a purchase agreement with Lincoln Park, pursuant to which Lincoln Park has agreed to purchase from the Company up to an aggregate of $10.0 million of common stock (subject to certain limitations), from time to time and at the Company's sole discretion over the term of the purchase agreement. On February 22, 2023, the Company completed its first issuance under this agreement for a total of 20,000 shares sold to Lincoln Park for proceeds of $0.1 million. In April 2023, the Company completed additional issuances for a total of 105,000 shares sold to Lincoln Park for proceeds of $0.3 million. On March 30, 2023, the Company entered into an underwriting agreement to issue and sell stock and warrants in a public offering. On June 6, 2023, the underwriter fully exercised the over-allotment option granted by the Company to purchase stock and warrants. On June 6, 2023, the public offering closed, and the Company issued and sold (i) 2,197,628 shares of common stock (including 750,000 shares of common stock sold pursuant to the exercise of the over-allotment option), (ii) 3,908 shares of Series F Convertible Preferred Stock convertible into up to 3,552,372 shares of common stock, (iii) 5,750,000 Class C Warrants (including 750,000 Class C Warrants sold pursuant to the exercise of the over-allotment option), and (iv) 5,750,000 Class D Warrants (including 750,000 Class D Warrants sold pursuant to the exercise of the over-allotment option). The public offering price of $1.10 per share of common stock, Class C Warrant and Class D Warrant, and $999.90 per share of Series F Convertible Preferred Stock, 909 Class C Warrants and 909 Class D Warrants, resulted in net proceeds to the Company of approximately $5.6 million net of underwriting discount and commissions of $0.5 million and other expenses of $0.2 million. Each Warrant is exercisable at a price per share of common stock of $1.10. The Class C Warrants will expire on June 6, 2028 and the Class D Warrants will expire on June 6, 2024. The exercise prices of the warrants are subject to appropriate adjustment in the event of recapitalization events, stock dividends, stock splits, stock combinations, reclassifications, reorganizations or similar events affecting the Company’s common stock. In addition, on August 5th, the 60th calendar day immediately following the initial exercise day, the exercise price of the warrants will be reduced to the lesser of (i) the exercise price then in effect and (ii) 90% of the average of the volume weighted average price of the Company's common stock for the five (5) trading day period immediately prior to the reset date. During June 2023, 2,958 shares of Series F Convertible Preferred Stock were converted into 2,688,822 shares of common stock.

Warrants

Warrants	6 Months Ended
	Jun. 30, 2023
Warrants
Warrants	Warrants The following is a summary of warrant activity for the Company’s equity-classified warrants for the six months ended June 30, 2023 and 2022: Number of Common Shares Weighted Average Weighted Average Outstanding at December 31, 2022 1,597,606 $ 21.22 3.07 Issued 11,605,596 $ 1.12 2.61 Exercised (50,000) $ 5.97 Expired (39,719) $ 192.00 Outstanding at June 30, 2023 13,113,483 $ 2.97 2.95 Outstanding at December 31, 2021 168,932 $ 199.65 3.42 Expired (11,112) $ 900.00 Outstanding at June 30, 2022 157,820 $ 150.40 3.14

Net Loss per Share - Basic and

Net Loss per Share - Basic and Diluted	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss per Share - Basic and Diluted	Net Loss per Share - Basic and Diluted Basic and diluted net loss per share is computed by dividing net loss available to common shareholders by the weighted-average number of common shares outstanding for the time period, which for basic net loss per share, does not include the weighted-average unvested restricted common stock that has been issued and is subject to forfeiture totaling 0 shares for the three months ended June 30, 2023 and 2022, and 40,550 and 0 for the six months ended June 30, 2023 and 2022, respectively. Dilutive common equivalent shares consist of stock options, warrants, and preferred stock and are calculated using the treasury stock method, which assumes the repurchase of common shares at the average market price during the period. Under the treasury stock method, options and warrants will have a dilutive effect when the average price of common stock during the period exceeds the exercise price of options or warrants. Common equivalent shares do not qualify as participating securities. In periods where the Company records a net loss unvested restricted common stock and potential common stock equivalents are not included in the calculation of diluted net loss per share as their effect would be anti-dilutive. The following is a summary of potential common shares excluded from the calculation of net loss per share as of June 30: 2023 2022 Common Stock Warrants 13,113,483 157,820 Employee Stock Options 211,126 13,088 Restricted Stock 67,250 2 Preferred Stock 863,602 52 Common Stock Reserved for Future Issuance 15,118 — Total Shares of Common Stock Issuable 14,270,579 170,962

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Equity Incentive Plans In 2005, the Company approved the 2005 Equity Incentive Plan (the “2005 Plan”). The 2005 Plan provides for the granting of stock options (incentive and nonqualified), restricted stock or other stock-based awards to employees, officers, directors, consultants, and advisors. During 2010, the maximum number of shares of Common Stock that may be issued pursuant to the 2005 Plan was increased to 59,414 shares. The Board of Directors (the “Board”) is responsible for administration of the 2005 Plan. The Company’s Board determines the term of each option, the option exercise price, the number of shares for which each option is granted and the rate at which each option is exercisable. Incentive stock options may be granted to any officer or employee at an exercise price per share of not less than the fair value per common share on the date of the grant (not less than 110% of fair value in the case of holders of more than 10% of the Company’s voting stock) and with a term not to exceed ten years from the date of the grant (five years for incentive stock options granted to holders of more than 10% of the Company’s voting stock). Nonqualified stock options may be granted to any officer, employee, consultant, or director at an exercise price per share of not less than the par value per share. Following adoption of the 2014 Equity Incentive Plan (the “2014 Plan”), no further grants were made under the 2005 Plan. General terms of the 2014 Plan remain the same as that of the 2005 plan. The Company’s Board adopted the 2014 Plan and the Employee Stock Purchase Plan (the “ESPP”), and the Company’s Stockholders approved the 2014 Plan and the ESPP Plan in February 2015. In January 2023, the number of shares of common stock issuable under the 2014 Plan automatically increased by 76,632 shares pursuant to the terms of the 2014 Plan. As of June 30, 2023, the maximum number of shares of Common Stock that may be issued pursuant to the 2014 Plan was 297,363 of which 14,927 shares were available for awards. Stock-based compensation expense is presented in the same expense line items as cash compensation earned and for the three and six months ended June 30 is as follows: Three months ended June 30 Six months ended June 30 2023 2022 2023 2022 Research and Development $ 66,226 $ 26,540 $ 130,913 $ 59,160 General and Administrative 105,569 44,714 176,823 228,015 Total Stock-Based Compensation Expense $ 171,795 $ 71,254 $ 307,736 $ 287,175 Stock Options The Company grants time-based stock options which generally vest one-third of the underlying shares on the one-year anniversary of the grant date and the remainder ratably over a 24-month period. The fair value of time-based stock options is determined using the Black-Scholes Option Pricing Model, with such value recognized as expense over the service period, which is typically three years, net of actual forfeitures. A summary of the Company’s assumptions used in determining the fair value of the stock options granted during the six months ended June 30, 2023 and 2022 is shown in the following table. Six months ended June 30 2023 2022 Risk-Free Interest Rate 4.24 % 2.42 % Expected Life (years) 5.00 5.00 Expected Stock Price Volatility 142 % 140 % Expected Dividend Yield — % — % The weighted average grant date fair value of options granted during the six months ended June 30, 2023 and 2022 was $3.26 and $27.08, respectively. The expected term of the options granted is calculated in accordance with the simplified method, whereby for service-based awards the expected life is calculated as a midpoint between the vest and expiry period. The Company uses the simplified method as there is not a sufficient history of share option exercises.. Expected volatility is based on the historical volatility of the Company’s common stock. The risk-free interest rate is determined based upon a constant U.S. Treasury security rate with a contractual life that approximates the expected term of the option. Unamortized compensation expense related to the options amounted to $0.9 million as of June 30, 2023 and is expected to be recognized over a weighted average period of approximately 2.02 years. Following is a summary of stock option activity for the six months ended June 30, 2023: Number of Weighted Average Weighted Average Outstanding at December 31, 2022 84,722 $ 36.90 9.59 Granted 135,900 $ 3.62 Expired (44) $ 295.00 Forfeited (9,452) $ 7.93 Outstanding at June 30, 2023 211,126 $ 16.72 9.45 Exercisable and vested at June 30, 2023 8,275 $ 285.03 7.08 The stock options outstanding and exercisable as of June 30, 2023 had no aggregate intrinsic value. The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the market price of the Company’s common stock for options that had exercise prices lower than $0.64, the closing price of the Company’s stock on June 30, 2023. Restricted Stock Awards Restricted stock compensation expense is recognized over the vesting period, which is typically one-third of the underlying shares on the one-year anniversary of the grant date and the remainder ratably over a 24-month period. Unamortized compensation expense related to the restricted stock awards amounted to $0.3 million as of June 30, 2023 and is expected to be recognized over a weighted average period of approximately 2.50 years. The following is a summary of restricted stock activity for the six months ended June 30, 2023: Number of Weighted Average Weighted Average Non-vested Outstanding at December 31, 2022 30,000 $ 6.78 2.79 Awarded 40,550 $ 3.83 Forfeited (3,300) $ 3.83 Non-vested Outstanding at June 30, 2023 67,250 $ 5.15 2.50 Employee Stock Purchase Plan The Company has a non-qualified Employee Stock Purchase Plan ("ESPP"), which provides for the issuance of shares of the Company’s common stock to eligible employees of the Company that elect to participate in the plan and purchase shares of common stock through payroll deductions at a discounted price. Six month offering periods are made at the Board’s discretion. The ESPP provides for 284 aggregate shares of the Company’s common stock for participants to purchase. As of June 30, 2023 and 2022, the remaining shares reserved for future offerings was 191.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases The Company leases its office facilities as well as other property under operating leases. In February 2022, the Company entered a lease for an office facility in Encinitas, California and took possession of the space May 1, 2022. The Company recorded a right-of-use asset asset and lease liability upon lease commencement in May 2022. On May 16, 2022, a nominal short-term lease commenced in Australia. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise the option. The remaining lease terms range from less than 2 months to 5 months. The Company’s Waltham, Massachusetts lease ended March 31, 2022. Total operating lease cost for the three months ended June 30, 2023 and 2022 was $40,654 and $25,530, respectively. Total operating costs for the six months ended June 30, 2023 and 2022 was $70,654 and $80,530, respectively. Operating lease costs include a nominal short-term and variable lease cost. Future annual minimum lease payments under non-cancellable operating leases as of June 30, 2023 are as follows: Years Ending December 31, 2023 (remaining months) $ 39,185 Total Lease Liabilities 39,185 Less Amounts Representing Interest (176) Total 39,009 Less Current Portion (39,009) $ — License and Exclusive Rights Agreements The Company is a party to seven license agreements as described below. These license agreements require the Company to pay or receive royalties or fees to or from the counterparties based on revenue or milestones related to the licensed technology. On July 2, 2013, the Company (through its subsidiary, Kiora Pharmaceuticals, GmbH) entered into a patent and know-how assignment agreement with 4SC Discovery GmbH (“4SC”) transferring to the Company all patent rights and know-how to the compound KIO-101. The Company is responsible for paying royalties of 3.25% on net sales of KIO-101. On July 2, 2013, the Company (through its subsidiary, Kiora Pharmaceuticals, GmbH) entered into an out-license agreement with 4SC granting 4SC the exclusive worldwide right to commercialize the compound KIO-101 for rheumatoid arthritis and inflammatory bowel disease, including Crohn’s Disease and Ulcerative Colitis. The Company is eligible to receive milestone payments totaling up to €155 million, upon and subject to the achievement of certain specified developmental and commercial milestones. The Company has not received any milestones payments from 4SC. In addition, the Company is eligible to receive royalties of 3.25% on net sales of KIO-101. On September 12, 2013, the Company (through its subsidiary, Jade Therapeutics, Inc.) entered into an agreement with Lineage Cell Therapeutics, Inc. (“Lineage”), formerly known as BioTime, Inc. granting to the Company the exclusive worldwide right to commercialize cross-linked thiolated carboxymethyl hyaluronic acid (“modified HA”) for ophthalmic treatments in humans. The agreement requires the Company to pay an annual fee of $30,000 and a royalty of 6% on net sales of KIO-201 to Lineage based on revenue relating to any product incorporating the modified HA technology. The agreement expires when patent protection for the modified HA technology lapses in August 2027. On November 17, 2014, the Company (through its subsidiary Kiora Pharmaceuticals GmbH) entered into an intellectual property and know-how licensing agreement with Laboratoires Leurquin Mediolanum S.A.S. (“Mediolanum”) for the commercialization of KIO-101 (the “Mediolanum Agreement”) in specific territories. Under the Mediolanum agreement, the Company out-licensed rights to commercialize KIO-101 for uveitis, dry eye and viral conjunctivitis in Italy, and France. This Agreement was amended on December 10, 2015 to also include Belgium and Netherlands. Under the Mediolanum Agreement, Mediolanum is obligated to pay up to approximately €20 million in development and commercial milestones and a 7% royalty on net sales of KIO-101 in the territories through the longer of the expiry of the valid patents covering KIO-101 or 10 years from the first commercial sale. The royalty is reduced to 5% after patent expiry. On September 26, 2018, the Company entered into an intellectual property licensing agreement (the “SentrX Agreement”) with SentrX, a veterinary medical device company that develops and manufactures veterinary wound care products. Under the SentrX Agreement, the Company in-licensed the rights to trade secrets and know-how related to the manufacturing of KIO-201. The SentrX Agreement enables the Company to pursue a different vendor with a larger capacity for manufacturing and an FDA-inspected facility for commercialization of a product for human use. Under the SentrX Agreement, SentrX is eligible to receive milestone payments totaling up to $4.75 million, upon and subject to the achievement of certain specified developmental and commercial milestones. On June 7, 2023, the Company entered into an amendment agreement (the "SentrX First Amendment") whereby SentrX removed the Company's obligation to make any further payments, milestone or otherwise.The term of the amendment agreement remains unchanged, which is until the product is no longer in the commercial marketplace. In addition, on June 7, 2023, the Company entered into a new exclusive license agreement (the "New SentrX Agreement") with SentrX, whereby the Company out-licensed certain KIO-201 patents for use in animal health and veterinary medicine. Under the New SentrX Agreement, SentrX is obligated to pay the Company a flat low single-digit royalty on net sales, and is effective until the last licensed patent terminates. On May 1, 2020, the Company (through its subsidiary, Bayon Therapeutics, Inc.) entered into an agreement with the University of California (“UC”) granting to the Company the exclusive rights to its pipeline of photoswitch molecules. The agreement requires the Company to pay an annual fee to UC of $5,000, as well as payments to UC upon the achievement of certain development milestone and royalties based on revenue relating to any product incorporating KIO-301. The Company is obligated to pay royalties on net sales of two percent (2%) of the first $250 million of net sales, one and a quarter percent (1.25%) of net sales between $250 million and $500 million, and one half of one percent (0.5%) of net sales over $500 million. The agreement expires on the date of the last-to-expire patent included in the licensed patent portfolio which is January 2030. On May 1, 2020, the Company (through our subsidiary, Bayon Therapeutics, Inc.) entered into an agreement with Photoswitch Therapeutics, Inc. (“Photoswitch”) granting to the Company access to certain patent applications and IP rights with last-to-expire patent terms of January 2030. The agreement calls for payments to Photoswitch upon the achievement of certain development milestones and upon first commercial sale of the product. Contingent Considerati on The purchase price of various acquisitions in prior periods included contingent consideration, which consisted of various cash earn-out payments upon the achievement of certain milestones. Below are the maximum obligation payments per the respective agreements and estimated fair value of contingent consideration payments remaining as of June 30, 2023. Maximum Obligation Current Fair Bayon $ 7,135,000 $ 1,237,524 Panoptes 9,500,000 1,925,592 Jade 2,164,451 836,648 $ 18,799,451 $ 3,999,764 Other In the normal course of business, the Company periodically becomes involved in various claims and lawsuits, as well as governmental proceedings and investigations that are incidental to the business. The Company accrues a liability when a loss is considered probable and the amount can be reasonably estimated. When a material loss contingency is reasonably possible but not probable, the Company does not record a liability, but instead discloses the nature and amount of the claim, and an estimate of the possible loss or range of loss, if such an estimate can be made. Legal fees are expensed as incurred. With respect to governmental proceedings and investigations, like other companies in the industry, the Company is subject to extensive regulation by national, state and local governmental agencies in the U.S. and in other jurisdictions in which the Company and its affiliates operate. As a result, interaction with governmental agencies is ongoing. The Company’s standard practice is to cooperate with regulators and investigators in responding to inquiries. The Company currently maintains insurance for risks associated with the operation of its business, provision of professional services and ownership of property. These policies provide coverage for a variety of potential losses, including loss or damage to property, bodily injury, general commercial liability, professional errors and omissions and medical malpractice. On August 16, 2022, the Inflation Reduction Act of 2022 was signed into law. As guidance is released the Company is continually evaluating the impact of the recently enacted law. However, the Company does not expect the impact to be material to its accompanying condensed consolidated financial statements.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 21, 2023, the Company entered into a Memorandum of Understanding with the Choroideremia Research Foundation ("CRF") to support strategic development of KIO-301 in Choroideremia ("CHM"). CHM is a rare, inherited retinal disease that causes blindness. This collaboration will accelerate the Company's development of KIO-301, a small molecule designed to restore vision in patients with later-stage retinal degeneration. Under the collaboration, CRF will assist the Company with access to clinical and scientific thought leaders to assist in further development of KIO-301 for CHM. They will also provide aid in enrollment of patients for any future trials of KIO-301 for CHM. In July 2023, 370 shares of Series F Convertible Preferred Stock were converted into 336,330 shares of common stock. On August 5, 2023, the Class C and Class D warrants exercise price reset to $0.5231 per share pursuant to the reset provision which stated that the warrants would be reduced to the lesser of (i) the exercise price then in effect and (ii) 90% of the average of the volume weighted average price of the Company's common stock for the five (5) trading day period immediately prior to the reset date.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Loss	$ (2,613,813)	$ (2,400,811)	$ (4,482,349)	$ (5,965,825)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
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

Business, Presentation and Re_2

Business, Presentation and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Pursuant to these rules and regulations, they do not include all information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the Company’s consolidated financial condition and results of operations have been included. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the full year. We believe that the disclosures provided herein are adequate to make the information presented not misleading when these unaudited interim condensed consolidated financial statements are read in conjunction with the audited consolidated financial statements and notes previously distributed in the Company’s 2022 Annual Report on Form 10-K dated March 23, 2023. The balance sheet as of December 31, 2022 was derived from audited consolidated financial statements of the Company but does not include all the disclosures required by U.S. GAAP.
Reverse Stock Split	Reverse Stock Split On September 23, 2022, the Company filed a Certificate of Amendment to its Restated Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Delaware to effect a one-for-forty ("1-for-40") reverse stock split of its outstanding common stock. The Amendment was approved by the Company’s stockholders at the Company’s 2022 Annual Meeting of Stockholders held on September 23, 2022, and by the Company’s board of directors. The amendment became effective on September 27, 2022. The reverse stock split affected all shares of the Company’s common stock outstanding immediately prior to the effective time of the Amendment. As a result of the reverse stock split, proportionate adjustments were made to the per share exercise price and/or the number of shares issuable upon the exercise or vesting of all stock options, and restricted stock awards issued by the Company and outstanding immediately prior to the effective time of the Amendment, which resulted in a proportionate decrease in the number of shares of the Company’s common stock reserved for issuance upon exercise or vesting of such stock options, and restricted stock awards, and, in the case of stock options, a proportionate increase in the exercise price of all such stock options. In addition, the number of shares reserved for issuance under the Company’s equity compensation plans immediately prior to the effective time of the Amendment was reduced proportionately. The reverse stock split did not affect the number of shares or par value of common stock authorized for issuance under the Company’s Amended and Restated Certificate of Incorporation, which remained at 50,000,000 shares. No fractional shares were issued as a result of the reverse stock split. Stockholders of record who would otherwise have been entitled to receive a fractional share received a cash payment in lieu thereof. The reverse stock split affected all stockholders proportionately and did not affect any stockholder’s percentage ownership of the Company’s common stock (except to the extent that the reverse stock split results in any stockholder owning only a fractional share). As a result of the reverse stock split, the number of the Company’s outstanding shares of common stock as of September 27, 2022 decreased from 43,163,123 (pre-split) shares to 1,079,045 (post-split) shares.
Going Concern	Going Concern The accompanying condensed consolidated financial statements have been prepared assuming that Kiora will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As of June 30, 2023, Kiora had unrestricted Cash and Cash Equivalents of $8.0 million, and an Accumulated Deficit of $138.9 million. Kiora has incurred losses and negative cash flows since inception, and future losses are anticipated. Based on the cash on hand as of June 30, 2023, the Company anticipates having sufficient cash to fund planned operations into May 2024, however, the acceleration or reduction of cash outflows by Company management can significantly impact the timing for the need to raise additional capital to complete development of its products. To continue development, Kiora will need to raise additional capital through equity financing, license agreements, and/or grants. Although historically the Company has been successful at raising capital, most recently raising net proceeds of approximately $5.6 million in a public offering that closed on June 6, 2023, as well as an equity line of credit that provides an additional $9.6 million (subject to certain limitations), additional capital may not be available on terms favorable to Kiora, if at all. The Company does not know if any future offerings will succeed. Accordingly, no assurances can be given that Company management will succeed in these endeavors. The factors described above have caused management to determine there is substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities or any other adjustments that might be necessary should the Company be unable to continue as a going concern.
Refunds for Research and Development	Refunds for Research and DevelopmentKiora, through its Kiora Pharmaceuticals GmbH and Kiora Pharmaceuticals Pty Ltd subsidiaries, is entitled to receive certain refundable tax incentives associated with eligible research and development expenses in Austria and Australia, respectively. These refunds are realized in the form of a cash payment in the year following the incurred research and development expenses. The Company records estimates of the refundable payment as a tax receivable and a reduction in expense in the period in which the research and development expenses are incurred.
Related-Party Transactions	Related-Party TransactionsFor the six months ended June 30, 2023, the Company made payments totaling approximately $0.1 million for services to a related party vendor, Ora, Inc., who is providing the Company with clinical study services for KIO-301. One of the Company’s directors is an executive at Ora, Inc.
Adoption of Accounting Standards	Adoption of Accounting Standards In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity . This guidance removes the liability and equity separation models for convertible instruments with a cash conversion feature or beneficial conversion feature. As a result, companies will more likely account for a convertible debt instrument wholly as debt, and for convertible preferred stock wholly as preferred stock (i.e., as a single unit of account). In addition, the guidance simplifies the settlement assessment that issuers perform to determine whether a contract in their own equity qualifies for equity classification. Finally, the guidance requires entities to use the if-converted method to calculate earnings per share for all convertible instruments. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. The Company adopted ASU 2020-06 on January 1, 2022. The adoption of ASU 2020-06 did not have a material effect for the Company. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) to clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. Specifically, the ASU provides a principles-based framework to determine whether an issuer should recognize the modification or exchange as an adjustment to equity or an expense. The guidance is effective for annual reporting periods beginning after December 15, 2021, and interim periods within those fiscal years. The Company adopted ASU 2021-04 on January 1, 2022. The adoption of ASU 2021-04 did not have a material effect for the Company. In November 2021, the FASB issued ASU 2021-10, which requires business entities to disclose information about certain government assistance they receive. Such disclosure requirements include the nature of the transactions and the related accounting policy used, the line items on the balance sheet and income statement that are affected and the amounts applicable to each financial statement line item and significant terms and conditions of the transactions. ASU 2021-10 was effective for the Company January 1, 2022. The adoption of ASU 2021-10 did not have a material effect for the Company.

Balance Sheet Information (Tabl

Balance Sheet Information (Tables)	6 Months Ended
	Jun. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Schedule of cash and cash equivalents and restricted cash	A summary of cash and cash equivalents and restricted cash is as follows: June 30, 2023 December 31, 2022 Cash and Cash Equivalents $ 7,951,650 $ 5,964,556 Restricted Cash, Non-current 4,150 49,260 Total Cash, Cash Equivalents and Restricted Cash $ 7,955,800 $ 6,013,816
Schedule of restricted cash	A summary of cash and cash equivalents and restricted cash is as follows: June 30, 2023 December 31, 2022 Cash and Cash Equivalents $ 7,951,650 $ 5,964,556 Restricted Cash, Non-current 4,150 49,260 Total Cash, Cash Equivalents and Restricted Cash $ 7,955,800 $ 6,013,816
Schedule of prepaid expenses and other current assets	Prepaid expenses and other current assets consist of the following: June 30, 2023 December 31, 2022 Prepaid Insurance $ 112,307 $ 117,315 Prepaid Research and Development 86,352 128,429 Other 67,841 97,325 Total Prepaid Expenses and Other Current Assets $ 266,500 $ 343,069
Schedule of accrued expenses	Accrued expenses consist of the following: June 30, 2023 December 31, 2022 Payroll and Benefits $ 1,051,087 $ 1,312,443 Professional Fees 93,684 282,721 Clinical Trials 209,653 57,020 Other 44,610 183,750 Total Accrued Expenses $ 1,399,034 $ 1,835,934

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of liabilities measured on recurring basis	The following table provides information for liabilities measured at fair value on a recurring basis using Level 3 inputs: June 30, 2023 December 31, 2022 Contingent Consideration: Current $ 313,853 $ 322,385 Non-current 3,670,252 3,309,175 Total Contingent Consideration $ 3,984,105 $ 3,631,560
Schedule of unobservable Level 3 inputs	After the initial valuation, the Company generally uses its best estimate to measure contingent consideration at each subsequent reporting period using the following unobservable Level 3 inputs: Valuation Technique Unobservable Inputs June 30, 2023 December 31, 2022 Discounted cash flow Payment discount rate 12.8 % 14.7 % Bayon Payment period 2023 - 2028 2023 - 2028 Panoptes Payment period 2024 - 2028 2024 - 2028 Jade Payment period 2026 2026 Bayon Probability of success for payment 17% - 67% 17% - 67% Panoptes Probability of success for payment 17% - 36% 17% - 36% Jade Probability of success for payment 56 % 56 %

Warrants (Tables)

Warrants (Tables)	6 Months Ended
	Jun. 30, 2023
Warrants
Schedule of warrant activity	The following is a summary of warrant activity for the Company’s equity-classified warrants for the six months ended June 30, 2023 and 2022: Number of Common Shares Weighted Average Weighted Average Outstanding at December 31, 2022 1,597,606 $ 21.22 3.07 Issued 11,605,596 $ 1.12 2.61 Exercised (50,000) $ 5.97 Expired (39,719) $ 192.00 Outstanding at June 30, 2023 13,113,483 $ 2.97 2.95 Outstanding at December 31, 2021 168,932 $ 199.65 3.42 Expired (11,112) $ 900.00 Outstanding at June 30, 2022 157,820 $ 150.40 3.14

Net Loss per Share - Basic an_2

Net Loss per Share - Basic and Diluted (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Summary of potential common stock equivalents are not included in the calculation of diluted net loss per share	The following is a summary of potential common shares excluded from the calculation of net loss per share as of June 30: 2023 2022 Common Stock Warrants 13,113,483 157,820 Employee Stock Options 211,126 13,088 Restricted Stock 67,250 2 Preferred Stock 863,602 52 Common Stock Reserved for Future Issuance 15,118 — Total Shares of Common Stock Issuable 14,270,579 170,962

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense	Stock-based compensation expense is presented in the same expense line items as cash compensation earned and for the three and six months ended June 30 is as follows: Three months ended June 30 Six months ended June 30 2023 2022 2023 2022 Research and Development $ 66,226 $ 26,540 $ 130,913 $ 59,160 General and Administrative 105,569 44,714 176,823 228,015 Total Stock-Based Compensation Expense $ 171,795 $ 71,254 $ 307,736 $ 287,175
Schedule of weighted average assumptions	A summary of the Company’s assumptions used in determining the fair value of the stock options granted during the six months ended June 30, 2023 and 2022 is shown in the following table. Six months ended June 30 2023 2022 Risk-Free Interest Rate 4.24 % 2.42 % Expected Life (years) 5.00 5.00 Expected Stock Price Volatility 142 % 140 % Expected Dividend Yield — % — %
Schedule of stock option activity	Following is a summary of stock option activity for the six months ended June 30, 2023: Number of Weighted Average Weighted Average Outstanding at December 31, 2022 84,722 $ 36.90 9.59 Granted 135,900 $ 3.62 Expired (44) $ 295.00 Forfeited (9,452) $ 7.93 Outstanding at June 30, 2023 211,126 $ 16.72 9.45 Exercisable and vested at June 30, 2023 8,275 $ 285.03 7.08
Schedule of restricted stock activity	The following is a summary of restricted stock activity for the six months ended June 30, 2023: Number of Weighted Average Weighted Average Non-vested Outstanding at December 31, 2022 30,000 $ 6.78 2.79 Awarded 40,550 $ 3.83 Forfeited (3,300) $ 3.83 Non-vested Outstanding at June 30, 2023 67,250 $ 5.15 2.50

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of future annual minimum lease payments under non-cancellable operating leases	Future annual minimum lease payments under non-cancellable operating leases as of June 30, 2023 are as follows: Years Ending December 31, 2023 (remaining months) $ 39,185 Total Lease Liabilities 39,185 Less Amounts Representing Interest (176) Total 39,009 Less Current Portion (39,009) $ —
Maximum obligation payments per respective agreements and estimated fair value of contingent consideration	Below are the maximum obligation payments per the respective agreements and estimated fair value of contingent consideration payments remaining as of June 30, 2023. Maximum Obligation Current Fair Bayon $ 7,135,000 $ 1,237,524 Panoptes 9,500,000 1,925,592 Jade 2,164,451 836,648 $ 18,799,451 $ 3,999,764

Business, Presentation and Re_3

Business, Presentation and Recent Accounting Pronouncements (Details)			6 Months Ended
	Jun. 06, 2023 USD ($)	Sep. 27, 2022 shares	Jun. 30, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Sep. 26, 2022 shares	Sep. 23, 2022 shares
Subsidiary, Sale of Stock [Line Items]
Reverse stock split ratio		0.025
Common stock, shares authorized (in shares) | shares			50,000,000	50,000,000		50,000,000
Number of fractional shares issued | shares		0
Common stock outstanding (in shares) | shares		1,079,045	6,910,720	1,796,472	43,163,123
Cash and cash equivalents			$ 7,951,650	$ 5,964,556
Accumulated deficit			(138,945,308)	$ (134,462,959)
Net proceeds	$ 5,600,000
Equity line of credit (up to)			9,600,000
Incurred expenses to related party vendor			$ 100,000
Common Stock
Subsidiary, Sale of Stock [Line Items]
Net proceeds	$ 5,600,000

Balance Sheet Information - Cas

Balance Sheet Information - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Cash and Cash Equivalents	$ 7,951,650	$ 5,964,556
Restricted Cash, Non-current	4,150	49,260
Total Cash, Cash Equivalents and Restricted Cash	$ 7,955,800	$ 6,013,816	$ 2,477,209	$ 7,899,690

Balance Sheet Information - Pre

Balance Sheet Information - Prepaid Expenses and Other Current Assets (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Prepaid Expense, Current [Abstract]
Prepaid Insurance	$ 112,307	$ 117,315
Prepaid Research and Development	86,352	128,429
Other	67,841	97,325
Total Prepaid Expenses and Other Current Assets	$ 266,500	$ 343,069

Balance Sheet Information - Acc

Balance Sheet Information - Accrued Expenses (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Payroll and Benefits	$ 1,051,087	$ 1,312,443
Professional Fees	93,684	282,721
Clinical Trials	209,653	57,020
Other	44,610	183,750
Total Accrued Expenses	$ 1,399,034	$ 1,835,934

Fair Value Disclosures - Liabil

Fair Value Disclosures - Liabilities at Fair Value (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Liabilities, Fair Value Disclosure [Abstract]
Current	$ 313,853	$ 322,385
Non-current	3,670,252	3,309,175
Fair Value, Recurring | Fair Value, Inputs, Level 3
Liabilities, Fair Value Disclosure [Abstract]
Current	313,853	322,385
Non-current	3,670,252	3,309,175
Total Contingent Consideration	$ 3,984,105	$ 3,631,560

Fair Value Disclosures - Unobse

Fair Value Disclosures - Unobservable Level 3 Inputs (Details)	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Change in fair value of contingent consideration	$ 400,000	$ 300,000
Discounted cash flow | Payment discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, measurement input, rate	0.128		0.147
Bayon | Discounted cash flow | Probability of success for payment | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, measurement input, rate	0.17		0.17
Bayon | Discounted cash flow | Probability of success for payment | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, measurement input, rate	0.67		0.67
Panoptes | Discounted cash flow | Probability of success for payment | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, measurement input, rate	0.17		0.17
Panoptes | Discounted cash flow | Probability of success for payment | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, measurement input, rate	0.36		0.36
Jade | Discounted cash flow | Probability of success for payment
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, measurement input, rate	0.56		0.56

Capital Stock - Narrative (Deta

Capital Stock - Narrative (Details)

1 Months Ended

6 Months Ended

Aug. 05, 2023 day $ / shares

Jun. 06, 2023 USD ($) $ / shares shares

Feb. 22, 2023 USD ($) shares

Feb. 03, 2023 USD ($) $ / shares shares

Nov. 17, 2022 USD ($) $ / shares shares

Jul. 26, 2022 USD ($) $ / shares shares

Jun. 18, 2022 shares

Jul. 31, 2023 shares

Jun. 30, 2023 USD ($) shares

Apr. 30, 2023 USD ($) shares

Jun. 30, 2023 USD ($) shares

Jun. 30, 2022 USD ($)

Mar. 30, 2023 $ / shares

Aug. 31, 2022 shares

Class of Stock [Line Items]

Holdback shares, term

18 months

Net proceeds | $

$ 5,600,000

Underwriting discount and commissions | $

500,000

Underwriting discount and commissions expenses | $

200,000

Exercise price (in usd per share) | $ / shares

$ 8

Proceeds from warrant exercises and sales | $

$ 3,100,000

Placement agent transaction fees, equal to percentage of gross proceeds from sale

8%

Proceeds from issuance of private placement | $

$ 200,000

$ 0

Equity line of credit (up to) | $

$ 9,600,000

$ 9,600,000

Subsequent Event

Class of Stock [Line Items]

Warrants exercise price reduction, trading day period immediately prior to reset date | day

5

Lincoln Park

Class of Stock [Line Items]

Proceeds from issuance of common stock | $

$ 100,000

$ 300,000

Class A Warrant

Class of Stock [Line Items]

Warrant exercised (in shares)

654,609

Inducement Warrant

Class of Stock [Line Items]

Exercise price (in usd per share) | $ / shares

$ 5.97

Period from issuance that warrant becomes exercisable

6 months

Warrants and rights outstanding, term

18 months

Common Stock

Class of Stock [Line Items]

Period from issuance that warrant becomes exercisable

5 years

Series E Convertible Preferred Stock

Class of Stock [Line Items]

Convertible preferred stock, shares issued upon conversion (in shares)

160,000

Common Stock

Class of Stock [Line Items]

Convertible preferred stock, shares issued upon conversion (in shares)

2,688,822

2,688,822

Net proceeds | $

$ 5,600,000

Common Stock | Subsequent Event

Class of Stock [Line Items]

Convertible preferred stock, shares issued upon conversion (in shares)

336,330

Common Stock | Lincoln Park

Class of Stock [Line Items]

Shares issued (in shares)

20,000

105,000

Equity line of credit (up to) | $

$ 10,000,000

Common Stock | Inducement Warrant

Class of Stock [Line Items]

Number of warrants issued to purchase the shares (in shares)

654,609

Common shares

Class of Stock [Line Items]

Warrants convertible into common stock (in shares)

1,504,785

Series F Convertible Preferred Stock

Class of Stock [Line Items]

Conversion of stock, shares converted (in shares)

2,958

Series F Convertible Preferred Stock | Subsequent Event

Class of Stock [Line Items]

Conversion of stock, shares converted (in shares)

370

Public Offering

Class of Stock [Line Items]

Public offering price per common share, Class A Warrants and Class B Warrants (in usd per share) | $ / shares

$ 8

Public offering price per Preferred Share, 5,000 Class A Warrants and 5,000 Class B Warrants (in usd per share)

1,000

Net proceeds | $

$ 5,300,000

Underwriting discount and commissions | $

400,000

Underwriting discount and commissions expenses | $

$ 300,000

Proceeds from issuance of common stock | $

$ 6,325,000

$ 0

Public Offering | Class A Warrant

Class of Stock [Line Items]

Number of warrants issued to purchase the shares (in shares)

30,095,697

Number of warrants considered for determination of public offering price of preferred shares issued with warrants (shares)

5,000

Public Offering | Class B Warrant

Class of Stock [Line Items]

Number of warrants issued to purchase the shares (in shares)

30,095,697

Number of warrants considered for determination of public offering price of preferred shares issued with warrants (shares)

5,000

Public Offering | Class C Warrant

Class of Stock [Line Items]

Number of warrants issued to purchase the shares (in shares)

5,750,000

Public Offering | Class D Warrants

Class of Stock [Line Items]

Number of warrants issued to purchase the shares (in shares)

5,750,000

Public Offering | Class C and Class D Warrants

Class of Stock [Line Items]

Exercise price (in usd per share) | $ / shares

$ 1.10

Public Offering | Class C and Class D Warrants | Subsequent Event

Class of Stock [Line Items]

Exercise price (in usd per share) | $ / shares

$ 0.5231

Warrant exercise price reduction percentage of average of the volume weighted average price for trading day period immediately prior to reset date

90%

Public Offering | Series E Convertible Preferred Stock

Class of Stock [Line Items]

Convertible preferred stock, shares issued upon conversion (in shares)

1,280

Public Offering | Common Stock

Class of Stock [Line Items]

Shares issued (in shares)

2,197,628

592,392

Number of warrants issued to purchase the shares (in shares)

3,552,372

160,000

Public Offering | Common Stock | Class C and Class D Warrants

Class of Stock [Line Items]

Shares issued, price per share (in usd per share) | $ / shares

$ 1.10

Public Offering | Common shares

Class of Stock [Line Items]

Warrant convertible into common stock basis

2.50%

Public Offering | Series F Convertible Preferred Stock

Class of Stock [Line Items]

Convertible preferred stock, shares issued upon conversion (in shares)

3,908

Public Offering | Series F Convertible Preferred Stock | 909 Class C and 909 Class D Warrants

Class of Stock [Line Items]

Shares issued, price per share (in usd per share) | $ / shares

$ 999.90

Over-Allotment Option | Class A Warrant

Class of Stock [Line Items]

Number of warrants issued to purchase the shares (in shares)

3,925,525

Over-Allotment Option | Class B Warrant

Class of Stock [Line Items]

Number of warrants issued to purchase the shares (in shares)

3,925,525

Over-Allotment Option | Class C Warrants, Exercise Option

Class of Stock [Line Items]

Number of warrants issued to purchase the shares (in shares)

750,000

Over-Allotment Option | Class D Warrants, Exercise Option

Class of Stock [Line Items]

Number of warrants issued to purchase the shares (in shares)

750,000

Over-Allotment Option | Common Stock

Class of Stock [Line Items]

Number of warrants issued to purchase the shares (in shares)

750,000

98,138

Private Placement

Class of Stock [Line Items]

Shares issued (in shares)

52,798

Class of warrant or right number of warrant issued (in shares)

105,596

Proceeds from issuance of private placement | $

$ 100,000

Warrants exercisable, anniversary of closing date

6 months

Private Placement | Common Stock

Class of Stock [Line Items]

Exercise price (in usd per share) | $ / shares

$ 3.538

Panoptes

Class of Stock [Line Items]

Issuance of common stock from Panoptes holdback shares (in shares)

10,086

Warrants - Summary of warrant a

Warrants - Summary of warrant activity (Details) - Common Stock Warrants - $ / shares	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Number of Common Shares Issuable Upon Exercise of Outstanding Warrants
Outstanding at beginning of year (in shares)	1,597,606	168,932	168,932
Issued (in shares)	11,605,596
Exercised (in shares)	(50,000)
Expired (in shares)	(39,719)	(11,112)
Outstanding at end of year (in shares)	13,113,483	157,820	1,597,606	168,932
Weighted Average Exercise Price
Outstanding at beginning of year (in usd per share)	$ 21.22	$ 199.65	$ 199.65
Issued (in usd per share)	1.12
Exercised (in usd per share)	5.97
Expired (in usd per share)	192	900
Outstanding at end of year (in usd per share)	$ 2.97	$ 150.40	$ 21.22	$ 199.65
Weighted Average Remaining Term in Years
Outstanding	2 years 11 months 12 days	3 years 1 month 20 days	3 years 25 days	3 years 5 months 1 day
Issued	2 years 7 months 9 days

Net Loss per Share - Basic an_3

Net Loss per Share - Basic and Diluted (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average unvested restricted common stock that has been issued and is subject to forfeiture (in shares)	0	0	0	40,550
Anti-dilutive shares excluded from the calculation of net loss per share (in shares)			14,270,579	170,962
Common Stock Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from the calculation of net loss per share (in shares)			13,113,483	157,820
Employee Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from the calculation of net loss per share (in shares)			211,126	13,088
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from the calculation of net loss per share (in shares)			67,250	2
Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from the calculation of net loss per share (in shares)			863,602	52
Common Stock Reserved for Future Issuance
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from the calculation of net loss per share (in shares)			15,118	0

Stock-Based Compensation- Addit

Stock-Based Compensation- Additional Information (Details) - USD ($)	1 Months Ended	6 Months Ended		12 Months Ended
	Jan. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2010
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Maximum number of shares that may be issued (in shares)				59,414
Weighted average fair value of options granted (in usd per share)		$ 3.26	$ 27.08
Unamortized compensation expense related to options		$ 900,000
Expected weighted average period of recognition of compensation expense		2 years 7 days
Aggregate intrinsic value of options outstanding		$ 0
Aggregate intrinsic value of options exercisable		$ 0
Share price (in usd per share)		$ 0.64
Employee Stock Options
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Award service period		3 years
Restricted Stock
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expected weighted average period of recognition of compensation expense		2 years 6 months
Unamortized compensation expense related to restricted stock		$ 300,000
Tranche One
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		33%
Tranche One | Employee Stock Options
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period		1 year
Tranche One | Restricted Stock
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period		1 year
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		33%
Tranche Two
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		67%
Tranche Two | Employee Stock Options
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period		24 months
Tranche Two | Restricted Stock
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period		24 months
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		67%
Holders Owning More Than Ten Percentage Voting Rights
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period				5 years
Holders Owning More Than Ten Percentage Voting Rights | Minimum
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Percentage of exercise price				110%
Holders Owning More Than Ten Percentage Voting Rights | Maximum
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period				10 years
2014 Plan
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Maximum number of shares authorized (in shares)		297,363
Number of shares available for awards (in shares)		14,927
2014 Plan | Employee Stock Options
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Additional shares authorized (in shares)	76,632
ESPP
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of shares available for awards (in shares)		284
Shares reserved for future offerings (in shares)		191	191

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	$ 171,795	$ 71,254	$ 307,736	$ 287,175
Research and Development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	66,226	26,540	130,913	59,160
General and Administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-Based Compensation Expense	$ 105,569	$ 44,714	$ 176,823	$ 228,015

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions (Details)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Risk-Free Interest Rate	4.24%	2.42%
Expected Life (years)	5 years	5 years
Expected Stock Price Volatility	142%	140%
Expected Dividend Yield	0%	0%

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Number of Options
Outstanding at beginning of year (in shares)	84,722
Granted (in shares)	135,900
Expired (in shares)	(44)
Forfeited (in shares)	(9,452)
Outstanding at end of year (in shares)	211,126	84,722
Exercisable and vested at the end of year (in shares)	8,275
Weighted Average Exercise Price
Outstanding at beginning of year (in usd per share)	$ 36.90
Granted (in usd per share)	3.62
Expired (in usd per share)	295
Forfeited (in usd per share)	7.93
Outstanding at end of year (in usd per share)	16.72	$ 36.90
Vested and expected to vest at end of year (in usd per share)	$ 285.03
Weighted Average Remaining Term in Years
Outstanding	9 years 5 months 12 days	9 years 7 months 2 days
Exercisable and vested at the end of year	7 years 29 days

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Activity (Details) - Restricted Stock - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Number of Units
Outstanding at beginning of year (in shares)	30,000
Awarded (in shares)	40,550
Forfeited (in shares)	(3,300)
Outstanding at end of year (in shares)	67,250	30,000
Weighted Average Grant Date Fair Value
Outstanding at beginning of year (in usd per share)	$ 6.78
Awarded (in usd per shares)	3.83
Forfeited (in usd per share)	3.83
Outstanding at end of year (in usd per share)	$ 5.15	$ 6.78
Weighted Average Remaining Term in Years
Beginning of year	2 years 6 months	2 years 9 months 14 days
End of year	2 years 6 months	2 years 9 months 14 days

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) € in Millions					3 Months Ended		6 Months Ended
	May 01, 2020 USD ($)	Nov. 17, 2014 EUR (€)	Sep. 12, 2013 USD ($)	Jul. 02, 2013 EUR (€)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) licenseAgreement	Jun. 30, 2022 USD ($)	Sep. 26, 2018 USD ($)
Commitments and Contingencies [Line Items]
Total operating lease cost					$ 40,654	$ 25,530	$ 70,654	$ 80,530
Number of license agreements | licenseAgreement							7
Payment of annual fee	$ 5,000
For the First 250 Million Net Sales
Commitments and Contingencies [Line Items]
Percentage of royalties on net sales	2%
Between 250 and 500 Million Net Sales
Commitments and Contingencies [Line Items]
Percentage of royalties on net sales	1.25%
Net Sales Over 500 Million
Commitments and Contingencies [Line Items]
Percentage of royalties on net sales	0.50%
SentrX Animal Care Inc
Commitments and Contingencies [Line Items]
Intangible assets expected milestone payable									$ 4,750,000
License
Commitments and Contingencies [Line Items]
Cost of goods and services sold			$ 30,000	€ 155
KIO-101
Commitments and Contingencies [Line Items]
Development and commercial milestones term		10 years
KIO-101 | Mediolanum Agreement
Commitments and Contingencies [Line Items]
Percentage of royalties on net sales		7%
Contractual obligation | €		€ 20
Percentage of decreasing after patent expiry		5%
Minimum
Commitments and Contingencies [Line Items]
Remaining lease term					2 months		2 months
Maximum
Commitments and Contingencies [Line Items]
Remaining lease term					5 months		5 months
Licensing Agreements | License
Commitments and Contingencies [Line Items]
Percentage of royalties on net sales			6%	3.25%

Commitments and Contingencies_2

Commitments and Contingencies - Future annual minimum lease payments under non-cancellable operating leases (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
2023 (remaining months)	$ 39,185
Total Lease Liabilities	39,185
Less Amounts Representing Interest	(176)
Total	39,009
Less Current Portion	(39,009)	$ (105,782)
Total	$ 0

Commitments and Contingencies_3

Commitments and Contingencies - Maximum obligation payments per respective agreements and estimated fair value of contingent consideration (Details)	Jun. 30, 2023 USD ($)
Business Acquisition, Contingent Consideration [Line Items]
Maximum Obligation per Agreements	$ 18,799,451
Current Fair Value Estimated	3,999,764
Bayon
Business Acquisition, Contingent Consideration [Line Items]
Maximum Obligation per Agreements	7,135,000
Current Fair Value Estimated	1,237,524
Panoptes
Business Acquisition, Contingent Consideration [Line Items]
Maximum Obligation per Agreements	9,500,000
Current Fair Value Estimated	1,925,592
Jade
Business Acquisition, Contingent Consideration [Line Items]
Maximum Obligation per Agreements	2,164,451
Current Fair Value Estimated	$ 836,648

Subsequent Events (Details)

Subsequent Events (Details)		1 Months Ended
	Aug. 05, 2023 day $ / shares	Jul. 31, 2023 shares	Jun. 30, 2023 shares	Jun. 06, 2023 shares	Mar. 30, 2023 $ / shares	Jul. 26, 2022 $ / shares
Subsequent Event [Line Items]
Exercise price (in usd per share) | $ / shares						$ 8
Class C and Class D Warrants | Public Offering
Subsequent Event [Line Items]
Exercise price (in usd per share) | $ / shares					$ 1.10
Series F Convertible Preferred Stock
Subsequent Event [Line Items]
Conversion of stock, shares converted (in shares)			2,958
Series F Convertible Preferred Stock | Public Offering
Subsequent Event [Line Items]
Convertible preferred stock, shares issued upon conversion (in shares)				3,908
Common Stock
Subsequent Event [Line Items]
Convertible preferred stock, shares issued upon conversion (in shares)			2,688,822
Subsequent Event
Subsequent Event [Line Items]
Warrants exercise price reduction, trading day period immediately prior to reset date | day	5
Subsequent Event | Class C and Class D Warrants | Public Offering
Subsequent Event [Line Items]
Exercise price (in usd per share) | $ / shares	$ 0.5231
Warrant exercise price reduction percentage of average of the volume weighted average price for trading day period immediately prior to reset date	90%
Subsequent Event | Series F Convertible Preferred Stock
Subsequent Event [Line Items]
Conversion of stock, shares converted (in shares)		370
Subsequent Event | Common Stock
Subsequent Event [Line Items]
Convertible preferred stock, shares issued upon conversion (in shares)		336,330