Nuwellis (NUWE) 10-Q 9 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	May 08, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	001-35312
Entity Registrant Name	NUWELLIS, INC.
Entity Central Index Key	0001506492
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	68-0533453
Entity Address, Address Line One	12988 Valley View Road
Entity Address, City or Town	Eden Prairie
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55344
City Area Code	952
Local Phone Number	345-4200
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	NUWE
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		1,206,932

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 11,515	$ 17,737
Marketable securities	575	569
Accounts receivable	1,301	1,406
Inventories, net	2,742	2,661
Other current assets	477	396
Total current assets	16,610	22,769
Property, plant and equipment, net	907	980
Operating lease right-of-use asset	856	903
Other assets	106	21
TOTAL ASSETS	18,479	24,673
Current liabilities
Accounts payable and accrued liabilities	2,524	2,245
Accrued compensation	1,312	2,161
Current portion of operating lease liability	201	196
Current portion of finance lease liability	21	28
Other current liabilities	49	58
Total current liabilities	4,107	4,688
Common stock warrant liability	0	6,868
Operating lease liability	708	760
Total liabilities	4,815	12,316
Commitments and contingencies
Stockholders' equity
Preferred stock	0	0
Common stock as of March 31, 2023 and December 31, 2022, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 1,206,932 and 536,394 shares, respectively	0	0
Additional paid-in capital	287,529	279,736
Accumulated other comprehensive income:
Foreign currency translation adjustment	(25)	(18)
Unrealized gain on marketable securities	62	56
Accumulated deficit	(273,902)	(267,417)
Total stockholders' equity	13,664	12,357
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	18,479	24,673
Series A Junior Participating Preferred Stock [Member]
Stockholders' equity
Preferred stock	0	0
Series F Convertible Preferred Stock [Member]
Stockholders' equity
Preferred stock	0	0
Series I Convertible Preferred Stock [Member]
Stockholders' equity
Preferred stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Stockholders' equity
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	39,969,873	39,969,873
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	1,206,932	536,394
Common stock, shares outstanding (in shares)	1,206,932	536,394
Series A Junior Participating Preferred Stock [Member]
Stockholders' equity
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	30,000	30,000
Preferred stock, shares outstanding (in shares)	0	0
Series F Convertible Preferred Stock [Member]
Stockholders' equity
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	127	127
Preferred stock, shares issued (in shares)	127	127
Preferred stock, shares outstanding (in shares)	127	127
Series I Convertible Preferred Stock [Member]
Stockholders' equity
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	1,049,280	1,049,280
Preferred stock, shares issued (in shares)	0	1,049,280
Preferred stock, shares outstanding (in shares)	0	1,049,280

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Condensed Consolidated Statements of Operations and Comprehensive Loss [Abstract]
Net sales	$ 1,826	$ 1,926
Cost of goods sold	759	824
Gross profit	1,067	1,102
Operating expenses:
Selling, general and administrative	5,490	4,412
Research and development	1,428	1,106
Total operating expenses	6,918	5,518
Loss from operations	(5,851)	(4,416)
Other income (expense), net	123	(55)
Change in fair value of warrant liability	(755)	0
Loss before income taxes	(6,483)	(4,471)
Income tax expense	(2)	(2)
Net loss	$ (6,485)	$ (4,473)
Basic loss per share (in dollars per share)	$ (5.76)	$ (42.45)
Diluted loss per share (in dollars per share)	$ (5.76)	$ (42.45)
Weighted average shares outstanding - basic (in shares)	1,126	105
Weighted average shares outstanding - diluted (in shares)	1,126	105
Other comprehensive loss:
Unrealized gain on marketable securities	$ 6	$ 0
Unrealized foreign currency translation adjustments	(7)	(2)
Total comprehensive loss	$ (6,486)	$ (4,475)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid in Capital [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2021	$ 0	$ 278,874	$ (35)	$ (252,892)	$ 25,947
Balance (in shares) at Dec. 31, 2021	105,376
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 0	0	0	(4,473)	(4,473)
Unrealized foreign currency translation adjustment	0	0	(2)	0	(2)
Unrealized gain on marketable securities					0
Stock-based compensation, net	$ 0	241	0	0	241
Stock-based compensation, net (in shares)	0
Balance at Mar. 31, 2022	$ 0	279,115	(37)	(257,365)	21,713
Balance (in shares) at Mar. 31, 2022	105,376
Balance at Dec. 31, 2022	$ 0	279,736	38	(267,417)	12,357
Balance (in shares) at Dec. 31, 2022	536,394
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 0	0	0	(6,485)	(6,485)
Unrealized foreign currency translation adjustment	0	0	(7)	0	(7)
Unrealized gain on marketable securities	0	0	6	0	6
Stock-based compensation, net	$ 0	181	0	0	181
Stock-based compensation, net (in shares)	0
Issuance costs related to 2022 common stock offering	$ 0	(11)	0	0	(11)
Conversion of preferred stock into common stock	$ 0	0	0	0	0
Conversion of preferred stock into common stock (in shares)	10,493
Reclassification of warrants to equity	$ 0	7,623	0	0	7,623
Conversion of warrants into common stock	$ 0	0	0	0	0
Conversion of warrants into common stock (in shares)	660,045
Balance at Mar. 31, 2023	$ 0	$ 287,529	$ 37	$ (273,902)	$ 13,664
Balance (in shares) at Mar. 31, 2023	1,206,932

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Activities
Net loss	$ (6,485)	$ (4,473)
Adjustments to reconcile net loss to cash flows from operating activities:
Depreciation and amortization	86	105
Stock-based compensation expense, net	181	241
Change in fair value of warrant liability	755	0
Changes in operating assets and liabilities:
Accounts receivable	105	(201)
Inventory, net	(81)	(451)
Other current assets	(81)	(22)
Other assets and liabilities	(16)	(80)
Accounts payable and accrued expenses	(570)	54
Net cash used in operating activities	(6,106)	(4,827)
Investing activities:
Additions to intangible assets	(85)	0
Purchases of property and equipment	(13)	(70)
Net cash used in investing activities	(98)	(70)
Financing activities:
Issuance costs related to 2022 common stock offering	(11)	0
Payments on finance lease liability	0	(6)
Net cash used in financing activities	(11)	(6)
Effect of exchange rate changes on cash	(7)	(2)
Net decrease in cash and cash equivalents	(6,222)	(4,905)
Cash and cash equivalents - beginning of year	17,737	24,205
Cash and cash equivalents - end of year	$ 11,515	$ 19,300

Nature of Business and Basis of

Nature of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Nature of Business and Basis of Presentation [Abstract]
Nature of Business and Basis of Presentation	Note 1 – Nature of Business and Basis of Presentation Nature of Business: In August 2016, the Company acquired the business associated with the Aquadex System (the “Aquadex Business”) from a subsidiary of Baxter International, Inc. (“Baxter”), and refocused its strategy to fully devote its resources to the Aquadex Business. On April 27, 2021, the Company announced that it was changing its name from CHF Solutions, Inc. to Nuwellis, Inc. to reflect the expansion of its customer base from treating fluid imbalance resulting from congestive heart failure to also include critical care and pediatric applications. Principles of Consolidation: The accompanying condensed consolidated balance sheet as of December 31, 2022, which has been derived from the consolidated audited financial statements, and the unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Certain information and note disclosures normally included in the audited annual consolidated financial statements have been condensed or omitted pursuant to those rules and regulations. Accordingly, they do not include all of the information necessary for a fair presentation of results of operations, comprehensive loss, financial condition, and cash flows in conformity with U.S. GAAP. In the opinion of management, the condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the results of the Company for the periods presented. Operating results for interim periods are not necessarily indicative of results that may be expected for the year as a whole. The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the consolidated financial statements and during the reporting period. Actual results could differ materially from these estimates. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Going Concern: The Company’s consolidated financial statements have been prepared and presented on a basis assuming it continues as a going concern. During the years ended December 31, 2022, and 2021 and through March 31, 2023, the Company incurred losses from operations and net cash outflows from operating activities as disclosed in the consolidated statements of operations and cash flows, respectively. As of March 31, 2023, the Company had an accumulated deficit of $273.9 million and it expects to incur losses for the immediate future. To date, the Company has been funded by equity financings, and although the Company believes that it will be able to successfully fund its operations, there can be no assurance that it will be able to do so or that it will ever operate profitably. These factors raise substantial doubt about the Company’s ability to continue as a going concern through the next twelve months. The Company became a revenue-generating company after acquiring the Aquadex Business in August 2016. The Company expects to incur additional losses in the near-term as it grows the Aquadex Business, including investments in expanding its sales and marketing capabilities, purchasing inventory, manufacturing components, and complying with the requirements related to being a U.S. public company. To become and remain profitable, the Company must succeed in expanding the adoption and market acceptance of the Aquadex System. This will require the Company to succeed in training personnel at hospitals and in outpatient care settings, and effectively and efficiently manufacturing, marketing and distributing the Aquadex System and related components. There can be no assurance that the Company will succeed in these activities, and it may never generate revenues sufficient to achieve profitability. During 2022, the Company closed on underwritten public equity offerings for aggregate net proceeds of approximately $9.4 million after deducting the underwriting discounts and commissions and other costs associated with the offerings. See Note 3—Stockholders’ Equity for additional related disclosures. The Company will require additional funding to grow its Aquadex Business, which may not be available on terms favorable to the Company, or at all. The Company may receive those funds from the proceeds from future warrant exercises, issuances of equity securities, or other financing transactions. On March 3, 2023, we entered into a Sales Agreement with Ladenburg Thalmann & Co. Inc. (“Ladenburg”) to create an at-the-market offering program under which we may offer and sell shares having an aggregate offering price of up to $10.0 million. Ladenburg is entitled to a commission at a fixed rate equal to 3% of the gross proceeds. The Company believes that its existing capital resources will be sufficient to support its operating plan through December 31, 2023. However, the Company may seek to raise additional capital to support its growth or other strategic initiatives through debt, equity or a combination thereof. There can be no assurance we will be successful in raising additional capital. Revenue Recognition: Accounts Receivable: outstanding receivables based upon significant patterns of collectability, historical experience, and management’s evaluation of specific accounts and will provide an allowance for credit losses when collection becomes doubtful. The Company performs credit evaluations of its customers’ financial condition on an as-needed basis. Payment is generally due 30 days from Inventories : Inventories represent finished goods purchased from the Company’s suppliers and are recorded as the lower of cost or net realizable value using the first-in, first-out method. Overhead is allocated to manufactured finished goods inventory based on the normal capacity of the Company’s production facilities. Abnormal amounts of overhead, if any, are expensed as incurred. Inventories consisted of the following: (in thousands) March 31, 2023 December 31, 2022 Finished Goods $ 1,185 $ 993 Work in Process 172 204 Raw Materials 1,523 1,609 Inventory Reserves (138 ) (145 ) Total $ 2,742 $ 2,661 Loss per share Diluted earnings per share is computed based on the net loss allocable to common stockholders for each period divided by the weighted average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued, and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include shares underlying outstanding convertible preferred stock, warrants, stock options and other stock-based awards granted under stock-based compensation plans. The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share because to do so would be anti-dilutive as of the end of each period presented: March 31 2023 2022 Stock options 105,296 11,747 Warrants to purchase common stock 19,190 16,317 Series F convertible preferred stock 5,080 508 Total 129,566 28,572 The following table reconciles reported net loss with reported net loss per share for each of the three months ended March 31: (in thousands, except per share amounts) 2023 2022 Net loss $ (6,485 ) $ (4,473 ) Weighted average shares outstanding 1,126 105 Basic and diluted loss per share $ (5.76 ) $ (42.45 ) Subsequent events:

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2023
Revenue Recognition [Abstract]
Revenue Recognition	Note 2 – Revenue Recognition Net Sales: Revenue from product sales is recognized when the customer or distributor obtains control of the product, which occurs at a point in time, most frequently upon shipment of the product or receipt of the product, depending on shipment terms. The Company’s standard shipping terms are FOB shipping point unless the customer requests that control and title to the inventory transfer upon delivery. Revenue is measured as the amount of consideration we expect to receive, adjusted for any applicable estimates of variable consideration and other factors affecting the transaction price, which is based on the invoiced price, in exchange for transferring products. All revenue is recognized when the Company satisfies its performance obligations under the contract. The majority of the Company’s contracts have a single performance obligation and are short term in nature. The Company has entered into extended service plans with customers whose related revenue is recognized over time. This revenue represents less than 1% of net sales for the three months ended March 31, 2023, and 2022. The unfulfilled performance obligations related to these extended service plans are included in deferred revenue, which is included in other current liabilities on the consolidated balance sheets. The majority of the deferred revenue is expected to be recognized within one year. Sales taxes and value added taxes in foreign jurisdictions that are collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales. Revenue includes shipment and handling fees charged to customers. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of goods sold. Product Returns : The Company offers customers a limited right of return for its products in case of non-conformity or performance issues. The Company estimates the amount of its product sales that may be returned by its customers and records this estimate as a reduction of revenue in the period the related product revenue is recognized. The Company currently estimates product return liabilities using available industry data and its own historical sales and returns information. The Company has not received any returns to date and believes that future returns of its products will be minimal. Therefore, revenue recognized is not currently impacted by variable consideration related to product returns.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity [Abstract]
Stockholders' Equity	Note 3 – Stockholders’ Equity Series F Convertible Preferred Stock : On November 27, 2017, the Company closed on an underwritten public offering of Series F convertible preferred stock and warrants to purchase shares of common stock for gross proceeds of $18.0 million. Net proceeds totaled approximately $16.2 million after deducting the underwriting discounts and commissions and other costs associated with the offering. The offering was comprised of Series F convertible preferred stock, convertible into shares of the Company’s common stock at a conversion price of $189,000 per share. Each share of Series F convertible preferred stock was accompanied by a Series 1 warrant, which was to expire on the first anniversary of its issuance, to purchase 16 shares of the Company’s common stock at an exercise price of $189,000 per share, and a Series 2 warrant, which expires on the seventh anniversary of its issuance, to purchase 4 shares of the Company’s common stock at an exercise price of $189,000 per share. The Series F convertible preferred stock has full ratchet price-based anti-dilution protection, subject to customary carve-outs, in the event of a down-round financing at a price per share below the conversion price of the Series F convertible preferred stock (which protection will expire if, during any 20 of 30 consecutive trading days, the volume weighted average price of the Company’s common stock exceeds 300% of the then-effective conversion price of the Series F convertible preferred stock and the daily dollar trading volume for each trading day during such period exceeds $200,000). The exercise price of the warrants is fixed and does not contain any variable pricing features, nor any price-based anti-dilutive features, apart from customary adjustments for stock splits, combinations, reclassifications, stock dividends or fundamental transactions. A total of 18,000 shares of Series F convertible preferred stock convertible into 96 shares of common stock and warrants to purchase 191 shares of common stock were issued in the offering. Effective March 12, 2019, the conversion price of the Series F convertible preferred stock was reduced from $89,040 to $15,750, the per share price to the public of the Series G convertible preferred stock issued in the March 2019 Offering. Effective October 25, 2019, the conversion price of the Series F convertible preferred stock was reduced from $15,750 to $4,230, and on November 6, 2019, from $4,230 to $2,983, the per share price to the public in the October and November 2019 transactions, respectively. Effective January 28, 2020, the conversion price of the Series F convertible preferred stock was reduced from $2,983 to $1,650, the per share price to the public of the Series H convertible preferred stock which closed in an underwritten public offering on January 28, 2020, described below. Effective March 23, 2020, the conversion price of the Series F convertible preferred stock was reduced from $1,650 to $900, the per share price to the public in the March 2020 transaction, described below. In connection with the September 2021 offering, the conversion price of the Series F convertible preferred stock was reduced from $550 to $250, the per share price to the public in the September 2021 offering, described below. In connection with the October 2022 offering, the conversion price of the Series F convertible preferred stock was reduced from $250 to $25, the per share price to the public in the October 2022 offering, described below. As of March 31, 2023, and December 31, 2022, 127 shares of the Series F convertible preferred stock remained outstanding. March 2021 Offering : On March 19, 2021, the Company closed on an underwritten public offering of 37,958 shares of common stock, for gross proceeds of approximately $20.9 million (the “March 2021 Offering”). Net proceeds totaled approximately $18.9 million after deducting the underwriting discounts and commissions and other costs associated with the offering and after giving effect to the underwriters’ full exercise of their overallotment option. In connection with the March 2021 Offering, the conversion price of the Series F convertible preferred stock was reduced from $900 to $550, the per share price to the public in the March 2021 Offering. In addition, the exercise price of the common stock warrants issued in connection with the January 2020 Offering was reduced from $900 to $550, the per share price to the public in the March 2021 Offering. September 2021 Offering : On September 17, 2021, the Company closed on an underwritten public offering of 40,056 shares of common stock, for gross proceeds of approximately $10.0 million (the “September 2021 Offering”). Net proceeds totaled approximately $9.0 million after deducting the underwriting discounts and commissions and other costs associated with the offering and after giving effect to the underwriters’ full exercise of their overallotment option. In connection with the September 2021 Offering, the conversion price of the Series F convertible preferred stock was reduced from $550 to $250, the per share price to the public in the September 2021 Offering. In addition, the exercise price of the common stock warrants issued in connection with the January 2020 Offering was reduced from $550 to $250, the per share price to the public in the September 2021 Offering. October 2022 Offering : On October 18, 2022, the Company closed on an underwritten public offering of 209,940 shares of common stock and 23,157,124 shares of Series I convertible preferred stock, for gross proceeds of approximately $11.0 million (the “October 2022 Offering”). Net proceeds totaled approximately $9.4 million after deducting underwriting discounts and commissions and other costs associated with the offering and after giving effect to the underwriters’ full exercise of their overallotment option. The offering was comprised of (1) 209,940 Class A Units, priced at a public offering price of $25 per Class A Unit, with each Class A Unit consisting of one share of common stock and 1.5 warrants to purchase one share of common stock at an exercise price of $25 per share, and (2) 23,157,124 Class B Units, priced at a public offering price of $0.25 per Class B Unit, with each Class B Unit consisting of one share of Series I convertible preferred stock, convertible into one share of common stock for every one hundred shares of Series I convertible preferred stock, and 1.5 warrants to purchase one share of common stock for every one hundred shares of Series I convertible preferred stock. The warrants included a cashless exercise provision that upon becoming exercisable, the warrant holders could exercise the warrants for common stock at a $0.00 exercise price. The warrants became exercisable beginning on the effective date of a reverse stock split in an amount sufficient to permit the exercise in full of the warrants, contingent upon stockholder approval of (i) such reverse stock split and (ii) of the exercisability of the warrants under Nasdaq rules, and they expire on the sixth anniversary of the initial exercise date. On December 8, 2022, following a special meeting of stockholders, the Company’s board of directors approved a one-for-one hundred Reverse Stock Split Certificate of Amendment On January 4, 2023, stockholder approval was secured by the Company for the exercisability of the common stock warrants. Upon stockholder approval, the warrants were determined to be equity-classified warrants. Concurrent with stockholder approval, the warrants were marked to market, then reclassified to the equity section of the balance sheet. Through March 31, 2023, 660,046 common stock warrants had converted into 660,046 shares of common stock at a $0.00 exercise price, with no proceeds received by the Company. In connection with the October 2022 Offering, the conversion price of the Series F convertible preferred stock was reduced from $250 to $25, the per-share price to the public in the October 2022 Offering. In addition, the exercise price of the common stock warrants issued in connection with the January 2020 Offering was reduced from $250 to $25, the per-share price to the public in the October 2022 Offering. Placement Agent Fees : In connection with the offerings described above, the Company paid the placement agent an aggregate cash placement fee equal to 8% of the aggregate gross proceeds raised in each of the offerings. Market-Based Warrants : On May 30, 2019, the Company granted a market-based warrant to a consultant in exchange for investor relations services. The warrant represents the right to acquire up to 33 shares of the Company’s common stock at an exercise price of $9,540 per share, based on the closing stock price of the Company’s common shares on May 30, 2019. The warrant is subject to a vesting schedule based on the Company achieving certain market stock prices within a specified period of time. The warrant expires on May 30, 2024. None of these warrants had vested as of March 31, 2023.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 4 - Stock-Based Compensation Under the fair value recognition provisions of U.S. GAAP for accounting for stock-based compensation, the Company measures stock-based compensation expense at the grant date based on the fair value of the award and recognizes the compensation expense over the requisite service period, which is generally the vesting period. The following table presents the classification of stock-based compensation expense recognized for the periods below: Three-months ended March 31, (in thousands) 2023 2022 Selling, general and administrative expense $ 172 $ 214 Research and development expense 9 27 Total stock-based compensation expense $ 181 $ 241

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2023
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	Note 5—Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, marketable securities, and warrants. Pursuant to the requirements of Accounting Standards Codification (“ASC”) Topic 820 “Fair Value Measurement,” the Company’s financial assets and liabilities measured at fair value on a recurring basis are classified and disclosed in one of the following three categories: ● Level 1 - Financial instruments with unadjusted quoted prices listed on active market exchanges. ● Level 2 - Financial instruments lacking unadjusted, quoted prices from active market exchanges, including over-the-counter traded financial instruments. The prices for the financial instruments are determined using prices for recently traded financial instruments with similar underlying terms as well as directly or indirectly observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals. ● Level 3 - Financial instruments that are not actively traded on a market exchange. This category includes situations where there is little, if any, market activity for the financial instrument. The prices are determined using significant unobservable inputs or valuation techniques. All cash equivalents and marketable securities are considered Level 1 measurements for all periods presented. The available-for-sale marketable securities primarily consist of investment-grade, U.S. dollar-denominated fixed and floating-rate debt, measured at fair value on a recurring basis. March 31, 2023 December 31, 2022 (in thousands) Fair Value Level 1 Fair Value Level 1 Marketable securities $ 575 $ 575 $ 569 $ 569 The fair value of the Company’s common stock warrant liability related to the investor warrants issued in the October 2022 public offering was calculated using a Monte Carlo valuation model and was classified as Level 3 in the fair value hierarchy. The following is a roll-forward of the fair value of the Level 3 warrants: (in thousands) Balance at December 31, 2022 $ 6,868 Change in fair value 755 Balance at January 4, 2023 (revaluation date) 7,623 Warrants reclassified to equity (7,623 ) Balance at March 31, 2023 $ —

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Taxes [Abstract]
Income Taxes	Note 6 – Income Taxes The Company provides for a valuation allowance when it is more likely than not that it will not realize a portion of its deferred tax assets. The Company has established a full valuation allowance for its U.S. and foreign deferred tax assets due to the uncertainty that enough taxable income will be generated in those taxing jurisdictions to utilize the assets. Therefore, the Company has not reflected any benefit of such deferred tax assets in the accompanying condensed consolidated financial statements. As of March 31, 2023, there were no material changes to what the Company disclosed regarding tax uncertainties or penalties in its Annual Report on Form 10-K for the year ended December 31, 2022.

Operating Leases

Operating Leases	3 Months Ended
	Mar. 31, 2023
Operating Leases [Abstract]
Operating Leases	Note 7—Operating Leases The Company leases a 23,000 square foot facility located in Eden Prairie, Minnesota for

Finance Lease Liability

Finance Lease Liability	3 Months Ended
	Mar. 31, 2023
Finance Lease Liability [Abstract]
Finance Lease Liability	Note 8—Finance Lease Liability In 2020, the Company entered into lease agreements to finance equipment valued at $98,000. The equipment consisted of computer hardware and audio-visual equipment and is included in Property, Plant and Equipment

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 9—Commitments and Contingencies Employee Retirement Plan: Non-refundable Technology License Fee:

Nature of Business and Basis _2

Nature of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2023
Nature of Business and Basis of Presentation [Abstract]
Principles of Consolidation	Principles of Consolidation: The accompanying condensed consolidated balance sheet as of December 31, 2022, which has been derived from the consolidated audited financial statements, and the unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Certain information and note disclosures normally included in the audited annual consolidated financial statements have been condensed or omitted pursuant to those rules and regulations. Accordingly, they do not include all of the information necessary for a fair presentation of results of operations, comprehensive loss, financial condition, and cash flows in conformity with U.S. GAAP. In the opinion of management, the condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the results of the Company for the periods presented. Operating results for interim periods are not necessarily indicative of results that may be expected for the year as a whole. The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the consolidated financial statements and during the reporting period. Actual results could differ materially from these estimates. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Going Concern	Going Concern: The Company’s consolidated financial statements have been prepared and presented on a basis assuming it continues as a going concern. During the years ended December 31, 2022, and 2021 and through March 31, 2023, the Company incurred losses from operations and net cash outflows from operating activities as disclosed in the consolidated statements of operations and cash flows, respectively. As of March 31, 2023, the Company had an accumulated deficit of $273.9 million and it expects to incur losses for the immediate future. To date, the Company has been funded by equity financings, and although the Company believes that it will be able to successfully fund its operations, there can be no assurance that it will be able to do so or that it will ever operate profitably. These factors raise substantial doubt about the Company’s ability to continue as a going concern through the next twelve months. The Company became a revenue-generating company after acquiring the Aquadex Business in August 2016. The Company expects to incur additional losses in the near-term as it grows the Aquadex Business, including investments in expanding its sales and marketing capabilities, purchasing inventory, manufacturing components, and complying with the requirements related to being a U.S. public company. To become and remain profitable, the Company must succeed in expanding the adoption and market acceptance of the Aquadex System. This will require the Company to succeed in training personnel at hospitals and in outpatient care settings, and effectively and efficiently manufacturing, marketing and distributing the Aquadex System and related components. There can be no assurance that the Company will succeed in these activities, and it may never generate revenues sufficient to achieve profitability. During 2022, the Company closed on underwritten public equity offerings for aggregate net proceeds of approximately $9.4 million after deducting the underwriting discounts and commissions and other costs associated with the offerings. See Note 3—Stockholders’ Equity for additional related disclosures. The Company will require additional funding to grow its Aquadex Business, which may not be available on terms favorable to the Company, or at all. The Company may receive those funds from the proceeds from future warrant exercises, issuances of equity securities, or other financing transactions. On March 3, 2023, we entered into a Sales Agreement with Ladenburg Thalmann & Co. Inc. (“Ladenburg”) to create an at-the-market offering program under which we may offer and sell shares having an aggregate offering price of up to $10.0 million. Ladenburg is entitled to a commission at a fixed rate equal to 3% of the gross proceeds. The Company believes that its existing capital resources will be sufficient to support its operating plan through December 31, 2023. However, the Company may seek to raise additional capital to support its growth or other strategic initiatives through debt, equity or a combination thereof. There can be no assurance we will be successful in raising additional capital.
Revenue Recognition	Revenue Recognition:
Accounts Receivable	Accounts Receivable: outstanding receivables based upon significant patterns of collectability, historical experience, and management’s evaluation of specific accounts and will provide an allowance for credit losses when collection becomes doubtful. The Company performs credit evaluations of its customers’ financial condition on an as-needed basis. Payment is generally due 30 days from
Inventories	Inventories : Inventories represent finished goods purchased from the Company’s suppliers and are recorded as the lower of cost or net realizable value using the first-in, first-out method. Overhead is allocated to manufactured finished goods inventory based on the normal capacity of the Company’s production facilities. Abnormal amounts of overhead, if any, are expensed as incurred. Inventories consisted of the following: (in thousands) March 31, 2023 December 31, 2022 Finished Goods $ 1,185 $ 993 Work in Process 172 204 Raw Materials 1,523 1,609 Inventory Reserves (138 ) (145 ) Total $ 2,742 $ 2,661
Loss per Share	Loss per share Diluted earnings per share is computed based on the net loss allocable to common stockholders for each period divided by the weighted average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued, and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include shares underlying outstanding convertible preferred stock, warrants, stock options and other stock-based awards granted under stock-based compensation plans. The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share because to do so would be anti-dilutive as of the end of each period presented: March 31 2023 2022 Stock options 105,296 11,747 Warrants to purchase common stock 19,190 16,317 Series F convertible preferred stock 5,080 508 Total 129,566 28,572 The following table reconciles reported net loss with reported net loss per share for each of the three months ended March 31: (in thousands, except per share amounts) 2023 2022 Net loss $ (6,485 ) $ (4,473 ) Weighted average shares outstanding 1,126 105 Basic and diluted loss per share $ (5.76 ) $ (42.45 )
Subsequent events	Subsequent events:

Nature of Business and Basis _3

Nature of Business and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2023
Nature of Business and Basis of Presentation [Abstract]
Inventories	Inventories consisted of the following: (in thousands) March 31, 2023 December 31, 2022 Finished Goods $ 1,185 $ 993 Work in Process 172 204 Raw Materials 1,523 1,609 Inventory Reserves (138 ) (145 ) Total $ 2,742 $ 2,661
Potential Shares of Common Stock not Included in Diluted Net Loss Per Share	The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share because to do so would be anti-dilutive as of the end of each period presented: March 31 2023 2022 Stock options 105,296 11,747 Warrants to purchase common stock 19,190 16,317 Series F convertible preferred stock 5,080 508 Total 129,566 28,572
Reconciliation of Reported Net Loss with Reported Net Loss Per Share	The following table reconciles reported net loss with reported net loss per share for each of the three months ended March 31: (in thousands, except per share amounts) 2023 2022 Net loss $ (6,485 ) $ (4,473 ) Weighted average shares outstanding 1,126 105 Basic and diluted loss per share $ (5.76 ) $ (42.45 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Stock-Based Compensation [Abstract]
Classification of Stock-Based Compensation Expense	The following table presents the classification of stock-based compensation expense recognized for the periods below: Three-months ended March 31, (in thousands) 2023 2022 Selling, general and administrative expense $ 172 $ 214 Research and development expense 9 27 Total stock-based compensation expense $ 181 $ 241

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value of Financial Instruments [Abstract]
Available-for-Sale Marketable Securities Measured at Fair Value on Recurring Basis	The available-for-sale marketable securities primarily consist of investment-grade, U.S. dollar-denominated fixed and floating-rate debt, measured at fair value on a recurring basis. March 31, 2023 December 31, 2022 (in thousands) Fair Value Level 1 Fair Value Level 1 Marketable securities $ 575 $ 575 $ 569 $ 569
Roll-Forward of Fair Value of Level 3 Warrants	The following is a roll-forward of the fair value of the Level 3 warrants: (in thousands) Balance at December 31, 2022 $ 6,868 Change in fair value 755 Balance at January 4, 2023 (revaluation date) 7,623 Warrants reclassified to equity (7,623 ) Balance at March 31, 2023 $ —

Nature of Business and Basis _4

Nature of Business and Basis of Presentation, Nature of Business, Going Concern, Accounts Receivable and Inventories (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($) Customer	Mar. 31, 2022 Customer	Dec. 31, 2022 USD ($) Customer	Mar. 03, 2023 USD ($)
Going Concern [Abstract]
Accumulated deficit	$ (273,902)		$ (267,417)
Net proceeds from issuance of public offering			9,400
Revenue Recognition [Abstract]
Accounts receivables maximum credit period from invoice date	30 days
Allowance for doubtful accounts	$ 0		0
Inventories [Abstract]
Finished Goods	1,185		993
Work in Process	172		204
Raw Materials	1,523		1,609
Inventory Reserves	(138)		(145)
Total	$ 2,742		$ 2,661
Ladenburg Thalmann & Co. [Member]
Going Concern [Abstract]
Percentage of fixed commission rate				3%
Ladenburg Thalmann & Co. [Member] | Maximum [Member]
Going Concern [Abstract]
Aggregate offering price				$ 10,000
Accounts Receivable [Member]
Revenue Recognition [Abstract]
Number of major customers | Customer	3		1
Customer One [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Revenue Recognition [Abstract]
Concentration risk percentage	17%		13%
Customer Two [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Revenue Recognition [Abstract]
Concentration risk percentage	11%
Customer Three [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Revenue Recognition [Abstract]
Concentration risk percentage	10%
ASC 606 [Member] | Net Sales [Member]
Revenue Recognition [Abstract]
Number of major customers | Customer	2	2
ASC 606 [Member] | Customer One [Member] | Net Sales [Member] | Customer Concentration Risk [Member]
Revenue Recognition [Abstract]
Concentration risk percentage	14%	14%
ASC 606 [Member] | Customer Two [Member] | Net Sales [Member] | Customer Concentration Risk [Member]
Revenue Recognition [Abstract]
Concentration risk percentage	13%	10%

Nature of Business and Basis _5

Nature of Business and Basis of Presentation, Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Potential shares of common stock that are not included in the calculation of diluted net loss per share [Abstract]
Potential shares of common stock that are not included in the calculation of diluted net loss per share (in shares)	129,566	28,572
Reported net loss with reported net loss per share [Abstract]
Net loss	$ (6,485)	$ (4,473)
Weighted average shares outstanding - basic (in shares)	1,126,000	105,000
Weighted average shares outstanding - diluted (in shares)	1,126,000	105,000
Basic loss per share (in dollars per share)	$ (5.76)	$ (42.45)
Diluted loss per share (in dollars per share)	$ (5.76)	$ (42.45)
Stock Options [Member]
Potential shares of common stock that are not included in the calculation of diluted net loss per share [Abstract]
Potential shares of common stock that are not included in the calculation of diluted net loss per share (in shares)	105,296	11,747
Warrants to Purchase Common Stock [Member]
Potential shares of common stock that are not included in the calculation of diluted net loss per share [Abstract]
Potential shares of common stock that are not included in the calculation of diluted net loss per share (in shares)	19,190	16,317
Series F Convertible Preferred Stock [Member]
Potential shares of common stock that are not included in the calculation of diluted net loss per share [Abstract]
Potential shares of common stock that are not included in the calculation of diluted net loss per share (in shares)	5,080	508

Revenue Recognition (Details)

Revenue Recognition (Details)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Abstract]
Expected timing of satisfaction, period	1 year
Sales Revenue [Member] | Customer Concentration Risk [Member] | ASC 606 [Member] | Maximum [Member]
Revenue, Performance Obligation [Abstract]
Percentage of net sales	1%	1%

Stockholders' Equity (Details)

Stockholders' Equity (Details)

3 Months Ended

Dec. 08, 2022

Oct. 18, 2022 USD ($) $ / shares shares

Sep. 17, 2021 USD ($) $ / shares shares

Mar. 19, 2021 USD ($) $ / shares shares

Mar. 12, 2019 $ / shares

Nov. 27, 2017 USD ($) $ / shares shares

Mar. 31, 2023 $ / shares shares

Mar. 31, 2023 $ / shares shares

Dec. 31, 2022 shares

Oct. 31, 2022 $ / shares

Sep. 30, 2022 $ / shares

Mar. 23, 2020 $ / shares

Jan. 28, 2020 $ / shares

Nov. 06, 2019 $ / shares

Oct. 25, 2019 $ / shares

May 30, 2019 $ / shares shares

Jul. 03, 2018 $ / shares

Class of Stock Disclosures [Abstract]

Exercise price of warrants (in dollars per share) | $ / shares

$ 0

$ 0

Preferred stock, shares outstanding (in shares)

0

0

0

Reverse stock split

0.01

Number of Common Stock Warrants Converted into Common Stock

660,046

Number of Shares of Common Stock Issued upon Conversion of Common Stock Warrants

660,046

January 2020 Offering [Member]

Class of Stock Disclosures [Abstract]

Exercise price of warrants (in dollars per share) | $ / shares

$ 25

$ 250

March 2021 Offering [Member]

Class of Stock Disclosures [Abstract]

Issuance of common stock, net (in shares)

37,958

Gross proceeds from public stock offering | $

$ 20,900,000

Net proceeds from public stock offering | $

$ 18,900,000

September 2021 Offering [Member]

Class of Stock Disclosures [Abstract]

Issuance of common stock, net (in shares)

40,056

Gross proceeds from public stock offering | $

$ 10,000,000

Net proceeds from public stock offering | $

$ 9,000,000

October 2022 Offering [Member]

Class of Stock Disclosures [Abstract]

Gross proceeds from public stock offering | $

$ 11,000,000

Net proceeds from public stock offering | $

$ 9,400,000

Warrants to Purchase Common Stock [Member]

Class of Stock Disclosures [Abstract]

Number of warrants vested (in shares)

0

Warrants to Purchase Common Stock [Member] | Consultant [Member]

Class of Stock Disclosures [Abstract]

Warrants to purchase shares of common stock (in shares)

33

Exercise price of warrants (in dollars per share) | $ / shares

$ 9,540

Series F Convertible Preferred Stock [Member]

Class of Stock Disclosures [Abstract]

Gross proceeds from issuance of convertible preferred stock | $

$ 18,000,000

Net proceeds from issuance of convertible preferred stock | $

$ 16,200,000

Conversion price (in dollars per share) | $ / shares

$ 189,000

$ 89,040

Number of consecutive trading days considered for expiration

20 days

Number of consecutive trading days

30 days

Preferred stock issued (in shares)

18,000

127

127

127

Number of shares issuable on conversion of preferred stock (in shares)

96

Preferred stock, shares outstanding (in shares)

127

127

127

Aggregate cash placement fee

8%

Series F Convertible Preferred Stock [Member] | Minimum [Member]

Class of Stock Disclosures [Abstract]

Percentage of volume weighted average price of common stock

300%

Trading volume for each trading day | $

$ 200,000

Series F Convertible Preferred Stock [Member] | March 2019 Offering [Member]

Class of Stock Disclosures [Abstract]

Conversion price (in dollars per share) | $ / shares

$ 15,750

Series F Convertible Preferred Stock [Member] | October 2019 Offering [Member]

Class of Stock Disclosures [Abstract]

Conversion price (in dollars per share) | $ / shares

$ 4,230

Series F Convertible Preferred Stock [Member] | November 2019 Offering [Member]

Class of Stock Disclosures [Abstract]

Conversion price (in dollars per share) | $ / shares

$ 2,983

Series F Convertible Preferred Stock [Member] | January 2020 Offering [Member]

Class of Stock Disclosures [Abstract]

Conversion price (in dollars per share) | $ / shares

$ 1,650

Exercise price of warrants (in dollars per share) | $ / shares

$ 900

Series F Convertible Preferred Stock [Member] | March 2020 Offering [Member]

Class of Stock Disclosures [Abstract]

Conversion price (in dollars per share) | $ / shares

$ 900

Series F Convertible Preferred Stock [Member] | March 2021 Offering [Member]

Class of Stock Disclosures [Abstract]

Conversion price (in dollars per share) | $ / shares

$ 550

Exercise price of warrants (in dollars per share) | $ / shares

$ 550

Series F Convertible Preferred Stock [Member] | September 2021 Offering [Member]

Class of Stock Disclosures [Abstract]

Conversion price (in dollars per share) | $ / shares

$ 250

Exercise price of warrants (in dollars per share) | $ / shares

$ 250

Series F Convertible Preferred Stock [Member] | October 2020 Offering [Member]

Class of Stock Disclosures [Abstract]

Conversion price (in dollars per share) | $ / shares

$ 250

Series F Convertible Preferred Stock [Member] | October 2022 Offering [Member]

Class of Stock Disclosures [Abstract]

Conversion price (in dollars per share) | $ / shares

$ 25

$ 25

$ 250

Series F Convertible Preferred Stock [Member] | Warrants to Purchase Common Stock [Member]

Class of Stock Disclosures [Abstract]

Warrants to purchase shares of common stock (in shares)

191

Series F Convertible Preferred Stock [Member] | Warrant Series 1 [Member]

Class of Stock Disclosures [Abstract]

Warrants to purchase shares of common stock (in shares)

16

Exercise price of warrants (in dollars per share) | $ / shares

$ 189,000

Series F Convertible Preferred Stock [Member] | Warrant Series 2 [Member]

Class of Stock Disclosures [Abstract]

Warrants to purchase shares of common stock (in shares)

4

Exercise price of warrants (in dollars per share) | $ / shares

$ 189,000

Series I Preferred Stock [Member]

Class of Stock Disclosures [Abstract]

Preferred stock issued (in shares)

0

0

1,049,280

Preferred stock, shares outstanding (in shares)

0

0

1,049,280

Series I Preferred Stock [Member] | October 2022 Offering [Member]

Class of Stock Disclosures [Abstract]

Issuance of common stock, net (in shares)

23,157,124,000

Number of share in one unit (in shares)

1

Class A Unit [Member] | October 2022 Offering [Member]

Class of Stock Disclosures [Abstract]

Issuance of common stock, net (in shares)

209,940,000

Common stock offering price per share (in dollars per share) | $ / shares

$ 25

Common stock exercise price per share (in dollars per share) | $ / shares

$ 25

Class B Unit [Member] | October 2022 Offering [Member]

Class of Stock Disclosures [Abstract]

Issuance of common stock, net (in shares)

23,157,124,000

Common stock offering price per share (in dollars per share) | $ / shares

$ 0.25

Common stock exercise price per share (in dollars per share) | $ / shares

$ 0

Common Stock [Member] | October 2022 Offering [Member]

Class of Stock Disclosures [Abstract]

Issuance of common stock, net (in shares)

209,940,000

Number of share in one unit (in shares)

1

Warrants [Member] | Class A Unit [Member] | October 2022 Offering [Member]

Class of Stock Disclosures [Abstract]

Number of share in one unit (in shares)

1.5

Warrants [Member] | Class B Unit [Member] | October 2022 Offering [Member]

Class of Stock Disclosures [Abstract]

Number of share in one unit (in shares)

1.5

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock-Based Compensation Expense Items [Abstract]
Stock-based compensation expense	$ 181	$ 241
Selling, General and Administrative Expense [Member]
Stock-Based Compensation Expense Items [Abstract]
Stock-based compensation expense	172	214
Research and Development Expense [Member]
Stock-Based Compensation Expense Items [Abstract]
Stock-based compensation expense	$ 9	$ 27

Fair Value of Financial Instr_3

Fair Value of Financial Instruments, Available-for-Sale Marketable Securities Measured at Fair Value on Recurring Basis (Details) - Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Available-for-sale marketable securities [Abstract]
Marketable securities	$ 575	$ 569
Level 1 [Member]
Available-for-sale marketable securities [Abstract]
Marketable securities	$ 575	$ 569

Fair Value of Financial Instr_4

Fair Value of Financial Instruments, Roll-Forward of Fair Value of Level 3 Warrants (Details) - Warrant [Member] - USD ($) $ in Thousands		3 Months Ended
	Jan. 04, 2023	Mar. 31, 2023
Roll-Forward of Fair Value of Level 3 Warrants [Roll Forward]
Beginning balance	$ 6,868	$ 7,623
Change in fair value	755
Warrants reclassified to equity		(7,623)
Ending balance	$ 7,623	$ 0

Operating Leases (Details)

Operating Leases (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) $ / ft² ft²
Operating Leases [Abstract]
Area of property leased under operating lease | ft²	23,000
Monthly rent and common area maintenance charges | $	$ 31,000
Annual base rent (per square foot)	10.5
Minimum [Member]
Operating Leases [Abstract]
Annual increase per square foot (in dollars per square foot)	0.32
Maximum [Member]
Operating Leases [Abstract]
Annual increase per square foot (in dollars per square foot)	0.34

Finance Lease Liability (Detail

Finance Lease Liability (Details)	Dec. 31, 2020 USD ($)
Finance Lease Liability [Abstract]
Value of finance lease equipment	$ 98,000
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net
Principal amount under lease agreement	$ 93,000
Implied interest rate	7.50%
Finance lease term	39 months

Commitments and Contingencies (

Commitments and Contingencies (Details) - Koronis Biomedical Corporation [Member]		12 Months Ended
	Aug. 05, 2021 USD ($) Installment	Dec. 31, 2021 USD ($)	Mar. 31, 2023 USD ($)
Commitments and Contingencies [Abstract]
Amount of grant approval received	$ 1,700,000
Non-refundable technology license fee	$ 428,160
Number of equal monthly installments | Installment	12
Research and Development Expense [Member]
Commitments and Contingencies [Abstract]
Non-refundable technology license fee expenses		$ 428,160
Accounts Payable [Member]
Commitments and Contingencies [Abstract]
Non-refundable technology license fee			$ 71,360