Akari Therapeutics (AKTX) 6-K29 Sep 232023 Q2 Current report (foreign)Financial data

Company Profile

Document And Entity Information

Document And Entity Information	6 Months Ended
Document And Entity Information	Jun. 30, 2023
Document Information
Document Type	6-K
Document Period End Date	Jun. 30, 2023
Entity Registrant Name	AKARI THERAPEUTICS, PLC
Entity Central Index Key	0001541157
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	$ 7,180,688	$ 13,249,945
Prepaid expenses	629,938	465,244
Other current assets	186,566	99,543
Total current assets	7,997,192	13,814,732
Patent acquisition costs, net	15,779	16,880
Total assets	8,012,971	13,831,612
Current liabilities:
Accounts payable	1,030,622	946,658
Accrued expenses	2,401,984	3,148,090
Warrant liability	1,704,790	7,852,000
Other liability	94,118	94,118
Total liabilities	5,231,514	12,040,866
Commitments and contingencies
Shareholders' equity:
Share capital of $0.0001 par value Authorized: 35,000,000,000 and 15,000,000,000 ordinary shares at June 30, 2023 and December 31, 2022, respectively; issued and outstanding: 10,122,321,523 and 7,444,917,123 at June 30, 2023 and December 31, 2022, respectively	1,012,232	744,492
Additional paid-in capital	170,853,009	167,076,392
Capital redemption reserve	52,193,811	52,193,811
Accumulated other comprehensive loss	(825,877)	(770,839)
Accumulated deficit	(220,451,718)	(217,453,110)
Total shareholders' equity	2,781,457	1,790,746
Total liabilities and shareholders' equity	$ 8,012,971	$ 13,831,612

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	35,000,000,000	15,000,000,000
Ordinary shares, shares issued	10,122,321,523	7,444,917,123
Ordinary shares, shares outstanding	10,122,321,523	7,444,917,123

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating expenses:
Research and development expenses	$ 3,255,221	$ 4,990,715
General and administrative expenses	5,954,379	6,069,422
Total operating expenses	9,209,600	11,060,137
Loss from operations	(9,209,600)	(11,060,137)
Other income:
Interest income	59,091	8,317
Change in fair value of warrant liability	6,147,210
Foreign currency exchange gain	27,516	211,761
Other expenses	(22,825)	(16,314)
Total other income, net	6,210,992	203,764
Net loss	$ (2,998,608)	$ (10,856,373)
Net loss per ordinary share (basic)	$ 0	$ 0
Net loss per ordinary share (diluted)	$ 0	$ 0
Weighted average ordinary shares outstanding, (basic)	8,787,337,361	5,648,226,680
Weighted average ordinary shares outstanding, (diluted)	8,787,337,361	5,648,226,680
Comprehensive loss:
Net loss	$ (2,998,608)	$ (10,856,373)
Other comprehensive loss:
Foreign currency translation adjustment	(55,038)	(80,590)
Total comprehensive loss	$ (3,053,646)	$ (10,936,963)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Share Capital	Additional Paid-in Capital	Capital Redemption Reserve	Accumulated Other Comprehensive Loss	Accumulated Deficit	Total
Balance at beginning of the year at Dec. 31, 2021	$ 475,973	$ 153,130,813	$ 52,193,811	$ (540,967)	$ (199,705,048)	$ 5,554,582
Balance at the beginning of the year (in shares) at Dec. 31, 2021	4,759,731,923
Issuance of share capital, net of issuance costs	$ 117,519	13,368,950				13,486,469
Issuance of share capital, net of issuance costs (in shares)	1,175,185,200
Stock-based compensation		221,692				221,692
Comprehensive loss				(80,590)	(10,856,373)	(10,936,963)
Balance at the end of the year at Jun. 30, 2022	$ 593,492	166,721,455	52,193,811	(621,557)	(210,561,421)	8,325,780
Balance at the end of the year (in shares) at Jun. 30, 2022	5,934,917,123
Balance at beginning of the year at Dec. 31, 2022	$ 744,492	167,076,392	52,193,811	(770,839)	(217,453,110)	1,790,746
Balance at the beginning of the year (in shares) at Dec. 31, 2022	7,444,917,123
Issuance of share capital, net of issuance costs	$ 266,666	3,235,091				3,501,757
Issuance of share capital, net of issuance costs (in shares)	2,666,666,700
Stock-based compensation		541,526				541,526
Issuance of share capital upon vesting of restricted stock units	$ 1,074					1,074
Issuance of share capital upon vesting of restricted stock units (in shares)	10,737,700
Comprehensive loss				(55,038)	(2,998,608)	(3,053,646)
Balance at the end of the year at Jun. 30, 2023	$ 1,012,232	$ 170,853,009	$ 52,193,811	$ (825,877)	$ (220,451,718)	$ 2,781,457
Balance at the end of the year (in shares) at Jun. 30, 2023	10,122,321,523

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities:
Net loss	$ (2,998,608)	$ (10,856,373)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization	1,850	1,948
Stock-based compensation	541,526	221,692
Change in fair value of warrant liability	(6,147,210)
Foreign currency exchange gain	(52,070)	(136,504)
(Decrease) increase in liabilities:
Prepaid expenses	(164,484)	(908,468)
Other current assets	(86,979)	(24,871)
Accounts payable	78,814	(147,136)
Accrued expenses	(746,541)	(1,773,629)
Net cash used in operating activities	(9,573,702)	(13,623,341)
Cash Flows from Financing Activities:
Proceeds from issuance of shares, net of issuance costs	3,501,757	12,366,469
Proceeds from employee vesting of restricted shares	1,074
Net cash provided by financing activities	3,502,831	12,366,469
Effect of exchange rates on cash	1,614	46,779
Net decrease in cash	(6,069,257)	(1,210,093)
Cash, beginning of period	13,249,945	9,361,270
Cash, end of period	$ 7,180,688	8,151,177
Supplemental disclosures of non-cash financing activities
Ordinary share subscriptions deposit		$ 1,120,000

Nature of Business

Nature of Business	6 Months Ended
Nature of Business	Jun. 30, 2023
Nature of Business
Nature of Business	NOTE 1 – Nature of Business Business Overview Akari Therapeutics, Plc, (the “Company” or “Akari”) is incorporated in the United Kingdom. The Company is a clinical-stage biotechnology company focused on developing advanced therapies for autoimmune and inflammatory diseases involving the complement component 5 (C5) and leukotriene B4 (LTB4) pathways. The Company’s activities since inception have consisted of performing research and development activities and raising capital. The Company is subject to a number of risks similar to those of clinical stage companies, including dependence on key individuals, uncertainty of product development and generation of revenues, dependence on outside sources of capital, risks associated with the Russian invasion of Ukraine, risks associated with clinical trials of products, dependence on third-party collaborators for research and development operations, need for marketing authorization of products, risks associated with protection of intellectual property, and competition with larger, better-capitalized companies. To fully execute its business plan, the Company will need, among other things, to complete its research and development efforts and clinical and regulatory activities. These activities may take several years and will require significant operating and capital expenditures in the foreseeable future. There can be no assurance that these activities will be successful. If the Company is not successful in these activities it could delay, limit, reduce or terminate preclinical studies, clinical trials or other research and development activities. Liquidity and Financial Condition The Company follows the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 205-40, Presentation of Financial Statements—Going Concern The Company has incurred substantial losses and negative cash flows since inception and had an accumulated deficit of $220.5 million as of June 30, 2023. The Company’s cash balance of $7.2 million as of June 30, 2023 is not sufficient to fund its operations for the one-year period after the date these condensed consolidated financial statements are issued. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. Nasdaq Continued Listing Rules On October 24, 2022, the Company received a deficiency notification letter from the Listing Qualifications Staff (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the bid price for the Company’s Common Stock had closed below $1.00 per share (the “Minimum Bid Requirement”) for the previous thirty consecutive business days. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company had 180 calendar days from the date of such notice, or until April 24, 2023, to regain compliance with the Minimum Bid Requirement. To regain compliance, the bid price for the Company’s American Depository Shares (“ADSs”) must have closed at $1.00 per share or more for a minimum of ten consecutive business days. On April 25, 2023, the Staff granted the Company an additional 180 calendar day period, or until October 23, 2023, in which to regain compliance with the Minimum Bid Requirement. Following the successful completion of the ADS Ratio Change (defined below), the Company received a written notice from the Staff that it has regained compliance with the Minimum Bid Requirement as a result of the Company’s ADSs having a closing bid price of $1.00 per share or greater for 10 consecutive business days. While the Company has regained compliance and is currently in compliance with Nasdaq continued listing requirements, there is no guarantee that the Company will be able to perpetually satisfy Nasdaq’s continued listing requirements to maintain its listing on Nasdaq for any periods of time. The Company’s failure to continue to meet these requirements may result in its securities being delisted from Nasdaq. ADS Ratio Change Effective August 17, 2023, the Company changed the ratio of its ADSs to ordinary shares from one ADS representing 100 ordinary shares to a new ratio of one ADS representing 2,000 ordinary shares (the “ADS Ratio Change”). All ADS and per ADS amounts in the accompanying condensed consolidated financial statements and notes thereto have been retroactively adjusted for all periods presented to reflect the ADS Ratio Change.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	NOTE 2 – Summary of Significant Accounting Policies Basis of presentation Principles of consolidation – Foreign currency – The reporting currency of the Company is U.S. dollars. The Company translates its non-U.S. operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations are recorded as foreign currency translation adjustments, a component of accumulated other comprehensive loss. Gains or losses from foreign currency transactions are included in foreign currency exchange gains/(losses). Use of estimates – Fair value measurements Fair Value Measurements and Disclosures ● Level 1 – quoted prices in active markets for identical assets and liabilities. ● Level 2 – inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. ● Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each reporting period. The fair value hierarchy also requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The carrying values of the Company’s cash, prepaid expenses and other current assets, accounts payable and accrued expenses approximate their fair values due to the short-term nature of these assets and liabilities. The Company’s liability-classified warrants are recorded at their estimated fair value. See Note 3. Cash – Prepaid expenses – Other current assets Patent acquisition costs Accrued expenses Warrant Liability Distinguishing Liabilities from Equity Derivatives and Hedging Research and development expenses – Payments made prior to the receipt of goods or services to be used in research and development are capitalized until the goods or services are received. The Company records expenses related to clinical studies and manufacturing development activities based on its estimates of the services received and efforts expended pursuant to contracts with multiple contract research organizations and manufacturing vendors that conduct and manage these activities on its behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract, and may result in uneven payment flows. There may be instances in which payments made to the Company’s vendors will exceed the level of services provided and result in a prepayment of the expense. Payments under some of these contracts depend on factors such as the successful enrollment of subjects and the completion of clinical study milestones. In amortizing or accruing service fees, the Company estimates the time period over which services will be performed, enrollment of subjects, number of sites activated and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from the Company’s estimate, the Company will adjust the accrued or prepaid expense balance accordingly. The Company accounts for research and development tax credits at the time its realization becomes probable as a credit to research and development expenses in the condensed consolidated statements of operations and comprehensive loss. Stock-based compensation expense – The fair value of each restricted ordinary share award is determined on the date of grant based on the fair value of the Company’s ordinary shares on that same date. The fair value of each share option grant is determined on the date of grant using the Black-Scholes option pricing model, which requires inputs based on certain subjective assumptions, including the expected stock price volatility, the expected term of the award, the risk-free interest rate, and expected dividends (See Note 5). Beginning on January 1, 2023, the Company began using its historical stock price volatility to determine the volatility assumption to be used in its Black-Scholes option pricing model. Prior to January 1, 2023, the Company estimated its expected stock price volatility based on the historical volatility of publicly traded peer companies. The expected term of the Company’s options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. The expected dividend yield is based on the fact that the Company has never paid cash dividends on ordinary shares and does not expect to pay any cash dividends in the foreseeable future. Leases – Leases Concentration of credit risk – Income taxes Interim Reporting Income Taxes Net loss per share For periods in which the Company has reported net losses, diluted net loss per ordinary share is the same as basic net loss per ordinary share, since dilutive ordinary shares are not assumed to have been issued if their effect is anti-dilutive. The Company reported a net loss for the six months ended June 30, 2023 and 2022. The following potential dilutive securities, presented based on amounts outstanding at the end of each reporting period, have been excluded from the calculation of diluted net loss per share because including them would have had an anti-dilutive impact: As of June 30, 2023 2022 Options to purchase ordinary shares 680,112,400 379,811,585 Warrants to purchase ordinary shares 4,155,347,500 1,135,347,500 Unvested restricted stock units 418,580,700 21,475,400 Total anti-dilutive share equivalents 5,254,040,600 1,536,634,485 New Accounting Pronouncements

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2023
Fair Value Measurements
Fair Value Measurements	NOTE 3 – Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents information about the Company’s financial liabilities measured at fair value on a recurring basis and indicates the level of the fair value hierarchy used to determine such values: June 30, 2023 Total Level 1 Level 2 Level 3 Liabilities Warrant liability - Series A $ 128,350 $ — $ — $ 128,350 Warrant liability - Series B 1,576,440 — — 1,576,440 Total liabilities $ 1,704,790 $ — $ — $ 1,704,790 December 31, 2022 Total Level 1 Level 2 Level 3 Liabilities Warrant liability - Series A $ 1,812,000 $ — $ — $ 1,812,000 Warrant liability - Series B 6,040,000 — — 6,040,000 Total liabilities $ 7,852,000 $ — $ — $ 7,852,000 The Company’s Level 3 liabilities consist of the September 2022 Warrants (defined below), which were determined to be liability-classified instruments. There were no transfers between Level 1, Level 2, and Level 3 during the six months ended June 30, 2023. Changes in Level 3 Liabilities Measured at Fair Value on a Recurring Basis The following table summarizes the activity in the warrant liability measured at fair value on a recurring basis using unobservable inputs (Level 3) during the six months ended June 30, 2023: Warrant Liability Series A Series B Total Balance, December 31, 2022 $ 1,812,000 $ 6,040,000 $ 7,852,000 Change in fair value (1,683,650) (4,463,560) (6,147,210) Balance, June 30, 2023 $ 128,350 $ 1,576,440 $ 1,704,790 Assumptions Used in Determining Fair Value of Liability-Classified Warrants The fair value of the warrant liability is based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The fair value of both the Series A Warrants and the Series B Warrants (each defined below) was determined using the Black-Scholes Option Pricing Model, which uses various assumptions, including (i) fair value of the Company’s ADSs, (ii) exercise price of the warrant, (iii) expected term of the warrant, (iv) expected volatility and (v) expected risk-free interest rate. Below are the assumptions used for the fair value calculations of the Series A Warrants and Series B Warrants (each defined below), as of June 30, 2023 and December 31, 2022, adjusted, where applicable, to reflect the ADS Ratio Change for all periods presented, as more fully described in Note 1: June 30, 2023 December 31, 2022 Series A Series B Series A Series B Stock (ADS) price $ 3.40 $ 3.40 $ 9.40 $ 9.40 Exercise price $ 17.00 $ 17.00 $ 17.00 $ 17.00 Expected term (in years) 1.2 6.2 1.7 6.7 Expected volatility 90 % 100 % 80 % 120 % Risk-free interest rate 5.3 % 4.0 % 4.4 % 4.0 %

Shareholders' Equity

Shareholders' Equity	6 Months Ended
Shareholders' Equity	Jun. 30, 2023
Shareholders' Equity
Shareholders' Equity	NOTE 4 – Shareholders’ Equity Ordinary Shares On June 30, 2023, the Company’s shareholders approved an increase to the number of authorized ordinary shares the Company can issue to 35,000,000,000 ordinary shares. As of December 31, 2022, the Company was authorized to issue 15,000,000,000 ordinary shares. March 2023 Registered Direct Offering On March 31, 2023, the Company entered into securities purchase agreements with certain accredited and institutional investors, including Dr. Ray Prudo, the Company’s Chairman, providing for the issuance of an aggregate of 1,333,333 ADSs in a registered direct offering at $3.00 per ADS, resulting in gross proceeds of approximately $4.0 million. The Company paid an aggregate of approximately $0.5 million in placement agent fees and expenses. September 2022 Registered Direct Offering On September 14, 2022, the Company sold to certain accredited and institutional investors, led by existing investors of the Company, including Dr. Ray Prudo, the Company’s Chairman, an aggregate of 755,000 ADSs in a registered direct offering (“September 2022 Registered Direct Offering”) at $17.00 per ADS for aggregate gross proceeds of approximately $12.8 million. In connection with the sale of the ADSs in the September 2022 Registered Direct Offering, the Company issued to the investors registered Series A warrants (“Series A Warrants”) to purchase an aggregate of 755,000 ADSs at $17.00 per ADS and registered Series B warrants (“Series B Warrants”) to purchase an aggregate of 755,000 ADSs at $17.00 per ADS (collectively, the “September 2022 Warrants”). The Company determined that the September 2022 Warrants are not indexed to the Company’s own stock in the manner contemplated by ASC 815-40-15, Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity’s Own Stock March 2022 Registered Direct Offering On March 10, 2022, the Company sold to certain accredited and institutional investors, led by existing investors of the Company, including Dr. Ray Prudo, the Company’s Chairman, an aggregate of 372,042 ADSs in a registered direct offering (“March 2022 Registered Direct Offering”) at $24.00 per ADS for aggregate gross proceeds of approximately $8.9 million. The Company also entered into a letter agreement with Paulson Investment Company, LLC (the “March 2022 Placement Agent”) to serve as the placement agent for the Company in connection with this offering. In connection with the sale of the ADSs in the March 2022 Registered Direct Offering, the Company issued to the investors registered warrants to purchase an aggregate of 186,020 ADSs at $28.00 per ADS (“March 2022 Investor Warrants”). The March 2022 Investor Warrants are immediately exercisable and will expire five years from issuance, subject to adjustment as set forth therein. The Company paid to the March 2022 Placement Agent an aggregate of approximately $0.8 million in placement agent fees and expenses and issued registered warrants to the March 2022 Placement Agent to purchase an aggregate of 14,882 ADS (“March 2022 Placement Agent Warrants”) on the same terms as the March 2022 Investor Warrants, except that the March 2022 Placement Agent Warrants are exercisable at $30.00 per ADS. The Company determined that the March 2022 Warrants met all of the criteria for equity classification. Accordingly, upon closing of the March 2022 Registered Direct Offering, the March 2022 Warrants were recorded as a component of additional paid-in capital. Warrants In connection with various financing transactions, the Company has issued warrants to purchase the Company’s ordinary shares represented by ADSs. The Company accounts for such warrants as equity instruments or liabilities, depending on the specific terms of the warrant agreement. See Note 2 for further details on accounting policies related to the Company’s warrants. The following table summarizes the Company’s outstanding warrants as of June 30, 2023 and December 31, 2022: Number of Warrant ADSs June 30, December 31, Exercise Expiration Description 2023 2022 Price (per ADS) Date Equity-classified Warrants 2019 Investor Warrants 59,211 59,211 $ 60.00 07/01/2024 2019 Placement Warrants 8,881 8,881 $ 57.00 06/28/2024 2020 Investor Warrants 139,882 139,882 $ 44.00 Feb-Mar 2025 2020 Placement Warrants 22,481 22,481 $ 51.00 Feb-Mar 2025 July 2021 Placement Agent Warrants 19,919 19,919 $ 46.40 07/07/2026 December 2021 Investor Warrants 107,775 107,775 $ 33.00 01/04/2027 December 2021 Placement Agent Warrants 8,622 8,622 $ 35.00 12/29/2026 March 2022 Investor Warrants 186,020 186,020 $ 28.00 03/10/2027 March 2022 Placement Agent Warrants 14,882 14,882 $ 30.00 03/08/2027 567,673 567,673 Liability-classified Warrants September 2022 Series A Investor Warrants 755,000 755,000 $ 17.00 09/14/2024 September 2022 Series B Investor Warrants 755,000 755,000 $ 17.00 09/14/2029 1,510,000 1,510,000 Total outstanding 2,077,673 2,077,673

Equity Incentive Plans

Equity Incentive Plans	6 Months Ended
Equity Incentive Plans	Jun. 30, 2023
Equity Incentive Plans
Equity Incentive Plans	NOTE 5 – Equity Incentive Plans 2023 Equity Incentive Plan On June 30, 2023, the Company’s shareholders approved the 2023 Equity Incentive Plan (the “2023 Plan”), which provides for the grant of stock options, both incentive stock options and nonqualified stock options, stock, with and without vesting restrictions, restricted stock units and stock appreciation rights, to be granted to employees, directors and consultants. The Company is permitted to grant up to 980,000,000 ordinary share incentive awards under the 2023 Plan. All outstanding ordinary shares under the 2014 Equity Incentive Plan (the “2014 Plan”) relating to stock options and restricted stock units may be issued under the 2023 Plan if such awards are forfeited, cancelled or expire unexercised. As of June 30, 2023, the Company had 855,637,300 outstanding stock options and restricted stock units under the 2014 Plan. Accordingly, the total number of ordinary shares that may ultimately be issued under rights granted under the 2023 Plan, including shares subject to outstanding grants under the 2014 Plan, shall not exceed 1,835,637,300 ordinary shares. In addition, if an award issued under the 2023 Plan is terminated or results in any shares not being issued, the unissued or reacquired shares shall again be available for issuance under the 2023 Plan. As of June 30, 2023, 736,944,200 remained available for issuance under the 2023 Plan. The 2023 and 2014 Plans provide that they be administered by the compensation committee of the board of directors. The exercise price for stock option awards may not be less than 100% of the fair market value of the Company’s ordinary shares on the date of grant and the term of awards may not be greater than ten years. The Company determines the fair value of its ordinary shares based on the quoted market price of its ADSs. Vesting periods are determined at the discretion of the compensation committee. Awards granted to employees typically vest over two 2014 Equity Incentive Plan Under the 2014 Plan the Company was authorized to grant stock options, restricted stock units and other awards, to employees, members of the board of directors and consultants. Upon effectiveness of the 2023 Plan no further awards were available to be issued under the 2014 Plan. Options The following is a summary of the Company’s option activity under the 2014 Plan and the 2023 Plan for the six months ended June 30, 2023: Weighted average Weighted remaining average contractual Aggregate Number of exercise term intrinsic ordinary shares price (in years) value Outstanding as of December 31, 2022 513,673,885 $ 0.02 8.7 $ — Granted 191,690,700 $ — Exercises — $ — Forfeited (25,252,185) $ 0.02 Outstanding at June 30, 2023 680,112,400 $ 0.01 8.7 $ 15,269 Exercisable at June 30, 2023 195,249,175 $ 0.03 7.1 $ — The aggregate intrinsic value of options is calculated as the difference between the exercise price of the options and the fair value of the Company’s common stock for those options that had exercise prices lower than the fair value of the Company’s common stock. The weighted-average grant-date fair value per share of options granted during the six months ended June 30, 2023 was less than $0.01. Option Valuation The weighted-average assumptions that the Company used to determine the fair value of share options granted were as follows, presented on a weighted average basis: Six Months Ended June 30, 2023 2022 Risk-free interest rate 3.8 % 2.8 % Expected dividend yield — — Expected term (in years) 6.0 6.1 Expected volatility 99.3 % 76.9 % Restricted Stock Units The 2014 Plan provided, and the 2023 Plan provides, for the award of restricted stock units (“RSUs”). RSUs are granted to employees that are subject to time-based vesting conditions that lapse between one year and two years from date of grant, assuming continued employment. The Company estimates the fair value of its time-based RSUs based on the Company’s closing ADS price on the date of grant. The Company recognizes compensation expense for RSU grants on a straight-line basis. The following table summarizes the Company’s restricted stock activity for the six months ended June 30, 2023: Weighted average Number of grant date ordinary shares fair value Unvested as of December 31, 2022 21,475,400 $ 0.01 Granted 407,843,000 $ 0.00 Vested (10,737,700) $ 0.01 Forfeited — $ — Unvested as of June 30, 2023 418,580,700 $ 0.00 The fair value of time-based RSUs that vested during the six months ended June 30, 2023 and 2022 were $126,705 and $0, respectively. Stock-Based Compensation Expense The Company classifies stock-based compensation expense in the statement of operations in the same manner in which the award recipients’ payroll costs are classified or in which the award recipients’ service payments are classified. Total stock-based compensation expense attributable to stock-based payments made to employees, consultants and directors included in operating expenses in the Company's condensed consolidated statements of operations and comprehensive loss for the six months ended June 30, 2023 and 2022 was as follows: Six Months Ended June 30, 2023 2022 Stock-based compensation: Research and development $ 63,273 $ 57,398 General and administrative 478,253 164,294 Total stock-based compensation expense $ 541,526 $ 221,692 As of June 30, 2023, total unrecognized compensation cost related to unvested share-based payment awards was $3.0 million, which is expected to be recognized over a weighted average period of 2.9 years.

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2023
Related Party Transactions
Related Party Transactions	NOTE 6 – Related Party Transactions The Doctors Laboratory The Company leases its offices in London from The Doctors Laboratory (“TDL”) and has incurred expenses of approximately $65,000 and $67,000 plus VAT during the six months ended June 30, 2023 and 2022, respectively. David Byrne, a former non-employee director of the Company, is the Chief Executive Officer of TDL and Dr. Ray Prudo, the Company’s Chairman, is the non-Executive Chairman of the Board of Directors of TDL. The Company received laboratory testing services for its clinical trials provided by TDL and incurred expenses of approximately $18,000 and $9,000 during the six months ended June 30, 2023 and 2022, respectively. The Company recorded payable balances owed to TDL of approximately $21,000 and $23,000 as of June 30, 2023 and December 31, 2022, respectively. Other A non-employee director of the Company began providing business development consulting services in January 2018. The consulting agreement was terminated in November 2022. The Company incurred expenses of approximately $50,000 during the six months ended June 30, 2022. No such expenses were incurred during the six months ended June 30, 2023.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies.
Commitments and Contingencies	NOTE 7 – Commitments and Contingencies Leases The Company currently leases office space for both its U.K. and U.S headquarters on a month-to-month basis. The Company is not party to any material lease agreements. For each of the six months ended June 30, 2023 and 2022, the Company incurred rent expense of approximately $0.1 million.

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2023
Subsequent Events
Subsequent Events	NOTE 8 – Subsequent Events The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. In some instances, such subsequent events may require retroactive adjustment to information reported at the balance sheet date. ADS Ratio Change In August 2023, the Company completed the ADS Ratio Change, as more fully described in Note 1. U.K. Research and Development Tax Credit In August 2023, the Company received a U.K. research and development tax credit in the amount of $2.5 million. September 2023 Private Placement In September 2023, the Company entered into purchase agreements to sell in a private placement to existing investors, including Dr. Ray Prudo, the Company’s Chairman, and Ms. Rachelle Jacques, the Company’s President and CEO (the “September 2023 Private Placement”) an aggregate of ADSs at and pre-funded warrants (the Pre-Funded Warrants”) to purchase up to ADSs at a purchase price per Pre-Funded Warrant of

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2023
Summary of Significant Accounting Policies
Basis of presentation	Basis of presentation
Principles of consolidation	Principles of consolidation –
Foreign currency	Foreign currency – The reporting currency of the Company is U.S. dollars. The Company translates its non-U.S. operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations are recorded as foreign currency translation adjustments, a component of accumulated other comprehensive loss. Gains or losses from foreign currency transactions are included in foreign currency exchange gains/(losses).
Use of estimates	Use of estimates –
Fair value measurements	Fair value measurements Fair Value Measurements and Disclosures ● Level 1 – quoted prices in active markets for identical assets and liabilities. ● Level 2 – inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. ● Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each reporting period. The fair value hierarchy also requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The carrying values of the Company’s cash, prepaid expenses and other current assets, accounts payable and accrued expenses approximate their fair values due to the short-term nature of these assets and liabilities. The Company’s liability-classified warrants are recorded at their estimated fair value. See Note 3.
Cash	Cash –
Prepaid expenses	Prepaid expenses –
Other current assets	Other current assets
Patent acquisition costs	Patent acquisition costs
Accrued expenses	Accrued expenses
Warrant Liability	Warrant Liability Distinguishing Liabilities from Equity Derivatives and Hedging
Research and development expenses	Research and development expenses – Payments made prior to the receipt of goods or services to be used in research and development are capitalized until the goods or services are received. The Company records expenses related to clinical studies and manufacturing development activities based on its estimates of the services received and efforts expended pursuant to contracts with multiple contract research organizations and manufacturing vendors that conduct and manage these activities on its behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract, and may result in uneven payment flows. There may be instances in which payments made to the Company’s vendors will exceed the level of services provided and result in a prepayment of the expense. Payments under some of these contracts depend on factors such as the successful enrollment of subjects and the completion of clinical study milestones. In amortizing or accruing service fees, the Company estimates the time period over which services will be performed, enrollment of subjects, number of sites activated and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from the Company’s estimate, the Company will adjust the accrued or prepaid expense balance accordingly. The Company accounts for research and development tax credits at the time its realization becomes probable as a credit to research and development expenses in the condensed consolidated statements of operations and comprehensive loss.
Stock-based compensation expense	Stock-based compensation expense – The fair value of each restricted ordinary share award is determined on the date of grant based on the fair value of the Company’s ordinary shares on that same date. The fair value of each share option grant is determined on the date of grant using the Black-Scholes option pricing model, which requires inputs based on certain subjective assumptions, including the expected stock price volatility, the expected term of the award, the risk-free interest rate, and expected dividends (See Note 5). Beginning on January 1, 2023, the Company began using its historical stock price volatility to determine the volatility assumption to be used in its Black-Scholes option pricing model. Prior to January 1, 2023, the Company estimated its expected stock price volatility based on the historical volatility of publicly traded peer companies. The expected term of the Company’s options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. The expected dividend yield is based on the fact that the Company has never paid cash dividends on ordinary shares and does not expect to pay any cash dividends in the foreseeable future.
Leases	Leases – Leases
Concentration of credit risk	Concentration of credit risk –
Income taxes	Income taxes Interim Reporting Income Taxes
Net loss per share	Net loss per share For periods in which the Company has reported net losses, diluted net loss per ordinary share is the same as basic net loss per ordinary share, since dilutive ordinary shares are not assumed to have been issued if their effect is anti-dilutive. The Company reported a net loss for the six months ended June 30, 2023 and 2022. The following potential dilutive securities, presented based on amounts outstanding at the end of each reporting period, have been excluded from the calculation of diluted net loss per share because including them would have had an anti-dilutive impact: As of June 30, 2023 2022 Options to purchase ordinary shares 680,112,400 379,811,585 Warrants to purchase ordinary shares 4,155,347,500 1,135,347,500 Unvested restricted stock units 418,580,700 21,475,400 Total anti-dilutive share equivalents 5,254,040,600 1,536,634,485
New Accounting Pronouncements	New Accounting Pronouncements

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Jun. 30, 2023
Summary of Significant Accounting Policies
Schedule of potential dilutive securities have been excluded from the calculation of diluted net loss per share because including them would have had an anti-dilutive impact	As of June 30, 2023 2022 Options to purchase ordinary shares 680,112,400 379,811,585 Warrants to purchase ordinary shares 4,155,347,500 1,135,347,500 Unvested restricted stock units 418,580,700 21,475,400 Total anti-dilutive share equivalents 5,254,040,600 1,536,634,485

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2023
Shareholders' Equity
Schedule of financial liabilities measured at fair value on a recurring basis	June 30, 2023 Total Level 1 Level 2 Level 3 Liabilities Warrant liability - Series A $ 128,350 $ — $ — $ 128,350 Warrant liability - Series B 1,576,440 — — 1,576,440 Total liabilities $ 1,704,790 $ — $ — $ 1,704,790 December 31, 2022 Total Level 1 Level 2 Level 3 Liabilities Warrant liability - Series A $ 1,812,000 $ — $ — $ 1,812,000 Warrant liability - Series B 6,040,000 — — 6,040,000 Total liabilities $ 7,852,000 $ — $ — $ 7,852,000
Schedule of activity in the warrant liability measured at fair value on a recurring basis using unobservable inputs (Level 3)	Warrant Liability Series A Series B Total Balance, December 31, 2022 $ 1,812,000 $ 6,040,000 $ 7,852,000 Change in fair value (1,683,650) (4,463,560) (6,147,210) Balance, June 30, 2023 $ 128,350 $ 1,576,440 $ 1,704,790
Schedule of assumptions used for the fair value calculations of the warrants	June 30, 2023 December 31, 2022 Series A Series B Series A Series B Stock (ADS) price $ 3.40 $ 3.40 $ 9.40 $ 9.40 Exercise price $ 17.00 $ 17.00 $ 17.00 $ 17.00 Expected term (in years) 1.2 6.2 1.7 6.7 Expected volatility 90 % 100 % 80 % 120 % Risk-free interest rate 5.3 % 4.0 % 4.4 % 4.0 %

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
Shareholders' Equity (Tables)	Jun. 30, 2023
Shareholders' Equity
Schedule of summarizes the outstanding warrants	Number of Warrant ADSs June 30, December 31, Exercise Expiration Description 2023 2022 Price (per ADS) Date Equity-classified Warrants 2019 Investor Warrants 59,211 59,211 $ 60.00 07/01/2024 2019 Placement Warrants 8,881 8,881 $ 57.00 06/28/2024 2020 Investor Warrants 139,882 139,882 $ 44.00 Feb-Mar 2025 2020 Placement Warrants 22,481 22,481 $ 51.00 Feb-Mar 2025 July 2021 Placement Agent Warrants 19,919 19,919 $ 46.40 07/07/2026 December 2021 Investor Warrants 107,775 107,775 $ 33.00 01/04/2027 December 2021 Placement Agent Warrants 8,622 8,622 $ 35.00 12/29/2026 March 2022 Investor Warrants 186,020 186,020 $ 28.00 03/10/2027 March 2022 Placement Agent Warrants 14,882 14,882 $ 30.00 03/08/2027 567,673 567,673 Liability-classified Warrants September 2022 Series A Investor Warrants 755,000 755,000 $ 17.00 09/14/2024 September 2022 Series B Investor Warrants 755,000 755,000 $ 17.00 09/14/2029 1,510,000 1,510,000 Total outstanding 2,077,673 2,077,673

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	6 Months Ended
Equity Incentive Plans (Tables)	Jun. 30, 2023
Equity Incentive Plans
Schedule of share option activity and related information for employees and directors	Weighted average Weighted remaining average contractual Aggregate Number of exercise term intrinsic ordinary shares price (in years) value Outstanding as of December 31, 2022 513,673,885 $ 0.02 8.7 $ — Granted 191,690,700 $ — Exercises — $ — Forfeited (25,252,185) $ 0.02 Outstanding at June 30, 2023 680,112,400 $ 0.01 8.7 $ 15,269 Exercisable at June 30, 2023 195,249,175 $ 0.03 7.1 $ —
Schedule of assumptions used to determine the fair value of stock granted	Six Months Ended June 30, 2023 2022 Risk-free interest rate 3.8 % 2.8 % Expected dividend yield — — Expected term (in years) 6.0 6.1 Expected volatility 99.3 % 76.9 %
Summary of activity of the Company's unvested RSUs	Weighted average Number of grant date ordinary shares fair value Unvested as of December 31, 2022 21,475,400 $ 0.01 Granted 407,843,000 $ 0.00 Vested (10,737,700) $ 0.01 Forfeited — $ — Unvested as of June 30, 2023 418,580,700 $ 0.00
Schedule of stock-based compensation expense in the following expense categories of its consolidated statements of operations and comprehensive loss	Six Months Ended June 30, 2023 2022 Stock-based compensation: Research and development $ 63,273 $ 57,398 General and administrative 478,253 164,294 Total stock-based compensation expense $ 541,526 $ 221,692

Nature of Business (Details)

Nature of Business (Details) - USD ($)	6 Months Ended
Nature of Business (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Nature Of Business
Cash balance	$ 7,180,688		$ 13,249,945
Accumulated deficit	220,451,718		$ 217,453,110
Net loss	(2,998,608)	$ (10,856,373)
Aspire Capital Fund LLC \| 2020 Purchase Agreement
Nature Of Business
Amount available under the share purchase commitment facility	$ 180

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2023
Summary of Significant Accounting Policies
Cash equivalents	$ 0	$ 0
Patents
Summary of Significant Accounting Policies
Finite-Lived intangible assets, remaining amortization period		22 years
Amortization of intangible assets	$ 100,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Net loss per share (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Summary of Significant Accounting Policies
Total Anti-Dilutive Share Equivalents	5,254,040,600	1,536,634,485
Options to purchase ordinary shares
Summary of Significant Accounting Policies
Total Anti-Dilutive Share Equivalents	680,112,400	379,811,585
Warrants to purchase ordinary shares
Summary of Significant Accounting Policies
Total Anti-Dilutive Share Equivalents	4,155,347,500	1,135,347,500
Unvested restricted stock units
Summary of Significant Accounting Policies
Total Anti-Dilutive Share Equivalents	418,580,700	21,475,400

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Fair Value Measurements
Financial liabilities measured at fair value	$ 1,704,790	$ 7,852,000
Recurring \| Series A warrants
Fair Value Measurements
Financial liabilities measured at fair value	128,350	1,812,000
Recurring \| Series B warrants
Fair Value Measurements
Financial liabilities measured at fair value	1,576,440	6,040,000
Level 3
Fair Value Measurements
Financial liabilities measured at fair value	1,704,790	7,852,000
Level 3 \| Recurring \| Series A warrants
Fair Value Measurements
Financial liabilities measured at fair value	128,350	1,812,000
Level 3 \| Recurring \| Series B warrants
Fair Value Measurements
Financial liabilities measured at fair value	$ 1,576,440	$ 6,040,000

Fair Value Measurements - Assum

Fair Value Measurements - Assumptions used for the fair value calculations of warrants (Details)	Jun. 30, 2023 USD ($) $ / shares	Dec. 31, 2022 $ / shares USD ($)
Series A warrants \| Exercise price
Fair Value Measurements
Warrants outstanding, measurement input	17	17
Series A warrants \| Volatility
Fair Value Measurements
Warrants outstanding, measurement input	90	80
Series A warrants \| Stock price
Fair Value Measurements
Warrants outstanding, measurement input	3.40	9.40
Series A warrants \| Risk-free rate
Fair Value Measurements
Warrants outstanding, measurement input	5.3	4.4
Series A warrants \| Expected term (in years)
Fair Value Measurements
Warrants outstanding, measurement input \| $	1.2	1.7
Series B warrants \| Exercise price
Fair Value Measurements
Warrants outstanding, measurement input	17	17
Series B warrants \| Volatility
Fair Value Measurements
Warrants outstanding, measurement input	100	120
Series B warrants \| Stock price
Fair Value Measurements
Warrants outstanding, measurement input	3.40	9.40
Series B warrants \| Risk-free rate
Fair Value Measurements
Warrants outstanding, measurement input	4	4
Series B warrants \| Expected term (in years)
Fair Value Measurements
Warrants outstanding, measurement input \| $	6.2	6.7

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Fair Value Measurements
Nominal value of ADS (in per warrant ADS)	$ 0.0001	$ 0.0001

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Reconciliation (Details)	6 Months Ended
Fair Value Measurements - Level 3 Reconciliation (Details)	Jun. 30, 2023 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value at beginning	$ 7,852,000
Changes in values of liabilities related to options and warrants	6,147,210
Fair value at ending	$ 1,704,790

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of the activity in warrant liability (Details)	6 Months Ended
	Jun. 30, 2023 USD ($)
Fair Value Measurements
Fair value at beginning	$ 7,852,000
Change in fair value	(6,147,210)
Fair value at ending	1,704,790
Series A warrants
Fair Value Measurements
Fair value at beginning	1,812,000
Change in fair value	(1,683,650)
Fair value at ending	128,350
Series B warrants
Fair Value Measurements
Fair value at beginning	6,040,000
Change in fair value	(4,463,560)
Fair value at ending	$ 1,576,440

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($)				6 Months Ended
	Mar. 31, 2023	Sep. 14, 2022	Mar. 10, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Class of Stock [Line Items]
Number of shares authorized				35,000,000,000		15,000,000,000
Proceeds from sale of ADS				$ 3,501,757	$ 12,366,469
Nominal value of ADS (in per warrant ADS)				$ 0.0001		$ 0.0001
Unrecognized compensation				$ 3
Weighted average period				2 years 10 months 24 days
Registered direct offering
Class of Stock [Line Items]
Aggregate ADSs issued (in shares)			372,042
Price per share			$ 24
Proceeds from sale of ADS			$ 8,900,000
Registered direct offering \| Investor warrants
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)			186,020
Exercise price of warrant			$ 28
Expiration term of warrants				5 years
Registered direct offering \| Placement agent
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)			14,882
Amount paid for placement agent fees and expenses			$ 800,000
Exercise price of warrant			$ 30
Registered direct offering \| American Depositary Shares
Class of Stock [Line Items]
Aggregate ADSs issued (in shares)	1,333,333	755,000
Price per share	$ 3	$ 17
Proceeds from sale of ADS	$ 4,000,000	$ 12,800,000
Amount paid for placement agent fees and expenses	$ 500,000
Registered direct offering \| American Depositary Shares \| Series A warrants
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)		755,000
Share issue price (in dollars per ADS)		$ 17
Registered direct offering \| American Depositary Shares \| Series B warrants
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)		755,000
Share issue price (in dollars per ADS)		$ 17

Shareholders' Equity - outstand

Shareholders' Equity - outstanding warrants (Details) - American Depositary Shares - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Warrants exercised	2,077,673	2,077,673
Equity-classified Warrants	567,673	567,673
Liability-classified Warrants	1,510,000	1,510,000
2019 Investor Warrants
Class of Warrant or Right [Line Items]
Exercise Price	$ 60
Equity-classified Warrants	59,211	59,211
2019 Placement Warrants
Class of Warrant or Right [Line Items]
Exercise Price	$ 57
Equity-classified Warrants	8,881	8,881
2020 Investor Warrants
Class of Warrant or Right [Line Items]
Exercise Price	$ 44
Equity-classified Warrants	139,882	139,882
2020 Placement Warrants
Class of Warrant or Right [Line Items]
Exercise Price	$ 51
Equity-classified Warrants	22,481	22,481
July 2021 Placement Agent Warrants
Class of Warrant or Right [Line Items]
Exercise Price	$ 46.40
Equity-classified Warrants	19,919	19,919
December 2021 Investor Warrants
Class of Warrant or Right [Line Items]
Exercise Price	$ 33
Equity-classified Warrants	107,775	107,775
December 2021 Placement Agent Warrants
Class of Warrant or Right [Line Items]
Exercise Price	$ 35
Equity-classified Warrants	8,622	8,622
March 2022 Investor Warrants
Class of Warrant or Right [Line Items]
Exercise Price	$ 28
Equity-classified Warrants	186,020	186,020
March 2022 Placement Agent Warrants
Class of Warrant or Right [Line Items]
Exercise Price	$ 30
Equity-classified Warrants	14,882	14,882
Series A warrants \| September 2022 Investor Warrants
Class of Warrant or Right [Line Items]
Exercise Price	$ 17
Liability-classified Warrants	755,000	755,000
Series B warrants \| September 2022 Investor Warrants
Class of Warrant or Right [Line Items]
Exercise Price	$ 17
Liability-classified Warrants	755,000	755,000

Equity Incentive Plans - 2023 E

Equity Incentive Plans - 2023 Equity Incentive Plan (Details)	6 Months Ended
	Jun. 30, 2023 shares
2023 and 2014 Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of fair market value of shares	100%
2023 and 2014 Plans \| Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	1 year
2023 and 2014 Plans \| Minimum \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	2 years
2023 and 2014 Plans \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of awards (in years)	10 years
2023 and 2014 Plans \| Maximum \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
2023 Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to grant	980,000,000
Equity Incentive Plan 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of outstanding stock options and restricted stock units	855,637,300
Number of shares remained available for issuance	736,944,200
Equity Incentive Plan 2014 [Member] \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to grant	1,835,637,300

Equity Incentive Plans - option

Equity Incentive Plans - option activity (Details) - 2023 and 2014 Plans - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Options Outstanding at beginning of the period	513,673,885
Number of shares, Granted	191,690,700
Number of shares, Forfeited	(25,252,185)
Number of shares, Options Outstanding at end of the period	680,112,400	513,673,885
Number of shares, Exercisable options at end of the period	195,249,175
Weighted average exercise price, Outstanding at beginning of the period	$ 0.02
Weighted average exercise price, Forfeited	0.02
Weighted average exercise price, Outstanding at end of the period	0.01	$ 0.02
Options exercisable at end of the period, Weighted average exercise price	$ 0.03
Weighted average remaining contractual term, Options outstanding during the period (in years)	8 years 8 months 12 days	8 years 8 months 12 days
Weighted average remaining contractual term, Options exercisable at end of the period (in years)	7 years 1 month 6 days
Aggregate intrinsic value, Options outstanding at end of the period	$ 15,269
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value per share of options granted	$ 0.01

Equity Incentive Plans - Assump

Equity Incentive Plans - Assumptions used for the fair value of stock awards (Details)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	3.80%	2.80%
Expected term (in years)	6 years	6 years 1 month 6 days
Expected volatility	99.30%	76.90%
Minimum \| Equity Incentive Plan 2014 \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	1 year
Maximum \| Equity Incentive Plan 2014 \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	2 years

Equity Incentive Plans - Summar

Equity Incentive Plans - Summarize the activity of the company unvested RSUs (Details) - Restricted stock units - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Shares/ Units
Unvested at beginning of the period (in shares)	21,475,400
Granted (in shares)	407,843,000
Vested (in shares)	(10,737,700)
Unvested at end of the period (in shares)	418,580,700
Weighted average grant date fair value per share
Weighted average grant date fair value per share, Beginning of the period (per share)	$ 0.01
Granted (per share)	0
Vested (per share)	0.01
Weighted average grant date fair value per share, End of the period (per share)	$ 0
Equity Incentive Plan 2014
Weighted average grant date fair value per share
Fair value of time-based RSUs that vested	$ 126,705	$ 0

Equity Incentive Plans - Stock-

Equity Incentive Plans - Stock-Based Compensation Expense (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 541,526	$ 221,692
Unrecognized compensation	$ 3
Weighted average period	2 years 10 months 24 days
Research and development expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 63,273	57,398
General and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 478,253	$ 164,294

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	6 Months Ended
Related Party Transactions (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Consulting charges	$ 0
The Doctors Laboratory
Related Party Transaction [Line Items]
Operating Lease, Expense	65,000	$ 67,000
Related party
Related Party Transaction [Line Items]
Laboratory testing services charges	18,000	9,000
Consulting charges		$ 50,000
Payable balances	$ 21,000		$ 23,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Commitments and Contingencies
Rental expense	$ 0.1	$ 0.1

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Events - USD ($) $ / shares in Units, $ in Millions	1 Months Ended
	Sep. 30, 2023	Aug. 31, 2023
Subsequent Events
Amount received from research and development tax credit		$ 2.5
Private Placement \| ADR [Member]
Subsequent Events
Issuance of share capital upon vesting of restricted stock units (in shares)	551,816
Price per share	$ 3.30
Number of warrants to purchase shares	42,550
Exercise price of warrant	$ 4.13
Percentage of the price per ADS for exercise price	125%
Private Placement \| ADR [Member] \| Pre-Funded Warrants
Subsequent Events
Number of warrants to purchase shares	48,387
Purchase price of share	$ 3.10
Aggregate gross proceeds	$ 2
Exercise price of warrant	$ 0.20