Corbus Pharmaceuticals (CRBP) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 02, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-37348
Entity Registrant Name	Corbus Pharmaceuticals Holdings, Inc.
Entity Central Index Key	0001595097
Entity Tax Identification Number	46-4348039
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	500 River Ridge Drive
Entity Address, City or Town	Norwood
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02062
City Area Code	(617)
Local Phone Number	963-0100
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	CRBP
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		12,043,940

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 23,686	$ 13,724
Investments	123,339	7,182
Restricted cash	285	192
Prepaid expenses and other current assets	1,001	2,448
Total current assets	148,311	23,546
Restricted cash	385	478
Property and equipment, net	671	973
Operating lease right of use assets	2,612	3,063
Other assets	0	212
Total assets	151,979	28,272
Current liabilities:
Notes payable	77	301
Accounts payable	1,152	3,179
Accrued expenses	10,488	11,030
Derivative liability	0	39
Operating lease liabilities, current	1,519	1,437
Loan payable	10,744	15,908
Total current liabilities	23,980	31,894
Other long-term liabilities	0	44
Operating lease liabilities, noncurrent	2,456	3,239
Total liabilities	26,436	35,177
Stockholders' equity
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no sharesissued and outstanding at June 30, 2024 and December 31, 2023.	0	0
Common stock, $0.0001 par value; 300,000,000 shares authorized,11,498,917 and 4,423,683 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	1	0
Additional paid-in capital	579,510	429,780
Accumulated deficit	(453,580)	(436,684)
Accumulated other comprehensive loss	(388)	(1)
Total stockholders equity (deficit)	125,543	(6,905)
Total liabilities and stockholders’ equity	$ 151,979	$ 28,272

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Shares, Issued	11,498,917	4,423,683
Common Stock, Shares, Outstanding	11,498,917	4,423,683

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating expenses:
Research and development	$ 6,865	$ 4,249	$ 12,627	$ 17,637
General and administrative	4,123	3,940	7,984	7,849
Total operating expenses	10,988	8,189	20,611	25,486
Operating loss	(10,988)	(8,189)	(20,611)	(25,486)
Other income (expense), net:
Other income, net	695	183	3,604	412
Interest income	906	232	1,568	494
Interest expense	(652)	(1,008)	(1,491)	(1,948)
Change in fair value of derivative liability	11	0	39	0
Foreign currency transaction (loss) gain, net	31	(2)	(5)	(1)
Other income (expense), net	991	(595)	3,715	(1,043)
Net loss	$ (9,997)	$ (8,784)	$ (16,896)	$ (26,529)
Net loss per share, basic	$ (0.9)	$ (2.05)	$ (1.75)	$ (6.27)
Net loss per share, diluted	$ (0.9)	$ (2.05)	$ (1.75)	$ (6.27)
Weighted average number of common shares outstanding, basic	11,053,241	4,277,701	9,681,875	4,229,894
Weighted average number of common shares outstanding, diluted	11,053,241	4,277,701	9,681,875	4,229,894
Comprehensive loss:
Net Income (Loss)	$ (9,997)	$ (8,784)	$ (16,896)	$ (26,529)
Other comprehensive (loss) income :
Change in unrealized (loss) gain on marketable debt securities	(59)	45	(387)	103
Total other comprehensive (loss) income	(59)	45	(387)	103
Total comprehensive loss	$ (10,056)	$ (8,739)	$ (17,283)	$ (26,426)

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	AOCI Attributable to Parent [Member]
Beginning balance, value at Dec. 31, 2022	$ 32,990	$ 0	$ 425,196	$ (392,080)	$ (126)
Beginning balance, shares at Dec. 31, 2022		4,171,297
Issuance of common stock, net of issuance costs	102		102
Issuance of common stock, net of issuance costs, shares		13,164
Stock-based compensation expense	1,850		1,850
Issuance of common stock upon exercise of stock options	130		130
Issuance of common stock upon exercise of stock options, shares		43,836
Change in unrealized gain (loss) on marketable debt securities	103				103
Issuance of common stock upon conversion of K2 Loan and Security Agreement, Shares		194,444
Issuance of common stock upon conversion of K2 Loan and Security Agreement, Value	875		875
Net Income (Loss)	(26,529)			(26,529)
Ending balance, value at Jun. 30, 2023	9,521	$ 0	428,153	(418,609)	(23)
Ending balance, shares at Jun. 30, 2023		4,422,741
Beginning balance, value at Mar. 31, 2023	16,459	$ 0	426,352	(409,825)	(68)
Beginning balance, shares at Mar. 31, 2023		4,215,133
Issuance of common stock, net of issuance costs	103		103
Issuance of common stock, net of issuance costs, shares		13,164
Stock-based compensation expense	823		823
Change in unrealized gain (loss) on marketable debt securities	45				45
Issuance of common stock upon conversion of K2 Loan and Security Agreement, Shares		194,444
Issuance of common stock upon conversion of K2 Loan and Security Agreement, Value	875		875
Net Income (Loss)	(8,784)			(8,784)
Ending balance, value at Jun. 30, 2023	9,521	$ 0	428,153	(418,609)	(23)
Ending balance, shares at Jun. 30, 2023		4,422,741
Beginning balance, value at Dec. 31, 2023	(6,905)	$ 0	429,780	(436,684)	(1)
Beginning balance, shares at Dec. 31, 2023		4,423,683
Issuance of common stock, net of issuance costs	144,395	$ 1	144,394
Issuance of common stock, net of issuance costs, shares		6,794,537
Stock-based compensation expense	2,270		2,270
Issuance of common stock upon exercise of stock options	$ 1,941		1,941
Issuance of common stock upon vesting of restricted stock, shares		3,764
Issuance of common stock upon exercise of stock options, shares	134,076	134,076
Change in unrealized gain (loss) on marketable debt securities	$ (387)				(387)
Issuance of common stock upon conversion of K2 Loan and Security Agreement, Shares		142,857
Issuance of common stock upon conversion of K2 Loan and Security Agreement, Value	1,125		1,125
Net Income (Loss)	(16,896)			(16,896)
Ending balance, value at Jun. 30, 2024	125,543	$ 1	579,510	(453,580)	(388)
Ending balance, shares at Jun. 30, 2024		11,498,917
Beginning balance, value at Mar. 31, 2024	96,965	$ 1	540,876	(443,583)	(329)
Beginning balance, shares at Mar. 31, 2024		10,507,237
Issuance of common stock, net of issuance costs	35,631		35,631
Issuance of common stock, net of issuance costs, shares		881,399
Stock-based compensation expense	1,288		1,288
Issuance of common stock upon exercise of stock options	1,715		1,715
Issuance of common stock upon vesting of restricted stock, shares		436
Issuance of common stock upon exercise of stock options, shares		109,845
Change in unrealized gain (loss) on marketable debt securities	(59)				(59)
Net Income (Loss)	(9,997)			(9,997)
Ending balance, value at Jun. 30, 2024	$ 125,543	$ 1	$ 579,510	$ (453,580)	$ (388)
Ending balance, shares at Jun. 30, 2024		11,498,917

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (16,896)	$ (26,529)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	2,270	1,850
Depreciation expense	302	340
Net amortization on discount of investments	(1,867)	(279)
Amortization of debt discount	320	430
Other	(41)	(2)
Changes in operating assets and liabilities:
Decrease (increase) in prepaid expenses and other current assets	1,653	(699)
Decrease (increase) in other assets	212	(57)
Decrease in operating lease right of use asset	451	398
(Decrease) increase in other long-term liabilities	(44)	2,500
Decrease in accounts payable	(2,027)	(664)
(Decrease) increase in accrued expenses	(542)	420
Decrease in operating lease liabilities	(701)	(624)
Net cash used in operating activities	(16,910)	(22,916)
Cash flows from investing activities:
Purchases of investments	(130,725)	(23,930)
Proceeds from sales and maturities of investments	16,050	38,287
Net cash (used in) provided by investing activities	(114,675)	14,357
Cash flows from financing activities:
Proceeds from issuance of common stock, net	146,130	207
Repayment of notes payable	(224)	(302)
Repayment of long-term borrowings	(4,359)	0
Net cash provided by (used in) financing activities	141,547	(95)
Net increase (decrease) in cash, cash equivalents, and restricted cash	9,962	(8,654)
Cash, cash equivalents, and restricted cash at beginning of the period	14,394	17,673
Cash, cash equivalents, and restricted cash at end of the period	24,356	9,019
Supplemental disclosure of cash flow information and non-cash transactions:
Cash paid during the period for interest	984	1,322
Proceeds from issuance of common stock not yet received	0	41
Write off of fully depreciated property and equipment	0	178
Common stock issuance costs not yet paid	75	0
Issuance of common stock for conversion of convertible debt	$ 1,125	$ 875

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (9,997)	$ (8,784)	$ (16,896)	$ (26,529)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On June 14, 2024 , Yong Ben M.D., a member of the board of directors , adopted a Rule 10b5-1 plan providing for the sale of up to 10,607 shares of the Company’s common stock. Pursuant to this plan, Dr. Ben may sell shares of common stock beginning on September 12, 2024, subject to the terms of the agreement, and the plan terminates on September 11, 2025 . The trading arrangement is intended to satisfy the affirmative defense of Rule 10b5-1(c). No other directors or officers adopted , modified or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during the second quarter of 2024.
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non Rule 10b5-1 Arrangement Modified	false
YongBen [Member]
Trading Arrangements, by Individual
Name	Yong Ben
Title	board of directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 14, 2024
Rule 10b5-1 Arrangement Terminated	true
Termination Date	September 11, 2025
Arrangement Duration	365 days
Aggregate Available	10,607

NATURE OF BUSINESS AND BASIS OF

NATURE OF BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS AND BASIS OF PRESENTATION	1. NATURE OF BUSINESS AND BASIS OF PRESENTATION Nature of Business Corbus Pharmaceuticals Holdings, Inc. (the "Company" or "Corbus") is a precision oncology company with a diversified portfolio and is committed to helping people defeat serious illness by bringing innovative scientific approaches to well-understood biological pathways. Corbus’ pipeline is comprised of two experimental drugs targeting solid tumors: CRB-701, a next-generation antibody drug conjugate ("ADC") that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload and CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFβ expressed on cancer cells. The pipeline also includes CRB-913, a highly peripherally restricted cannabinoid type-1 ("CB1") receptor inverse agonist for the treatment of obesity. Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets and raising capital. The Company’s business is subject to significant risks and uncertainties and the Company will be dependent on raising substantial additional capital before it becomes profitable, and it may never achieve profitability. Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP") for interim financial reporting. In the opinion of management of the Company, the accompanying unaudited condensed consolidated interim financial statements reflect all adjustments (which include only normal recurring adjustments) necessary to present fairly, in all material respects, the condensed consolidated financial position of the Company as of June 30, 2024 and the results of its operations and changes in stockholders’ equity for the three and six months ended June 30, 2024 and 2023 and its cash flows for the six months ended June 30, 2024 and 2023. The December 31, 2023 condensed consolidated balance sheet was derived from audited financial statements. The Company prepared the condensed consolidated financial statements following the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim reporting. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 , filed on March 12, 2024 (the “2023 Annual Report”). The results of operations for such interim periods are not necessarily indicative of the operating results for the full fiscal year. Basis of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and accounts have been eliminated in consolidation. The significant accounting policies used in preparation of these condensed consolidated financial statements in this Form 10-Q are consistent with those discussed in Note 3, “Significant Accounting Policies,” in our 2023 Annual Report.

LIQUIDITY

LIQUIDITY	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LIQUIDITY	2. LIQUIDITY The accompanying condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has incurred recurring losses since inception and as of June 30, 2024, had an accumulated deficit of approximately $ 453.6 million . The Company anticipates operating losses to continue for the foreseeable future due to, among other things, costs related to research funding, development of its product candidates and its pre-clinical and clinical programs, strategic alliances, and the development of its administrative organization. The Company expects that its cash, cash equivalents, and investments of approximately $ 147.0 million at June 30, 2024 will be sufficient to meet its operating and capital requirements at least twelve months from the issuance of this Quarterly Report on Form 10-Q. The source, timing and availability of any future financing will depend principally upon market conditions, and, more specifically, on the progress of the Company’s clinical development programs. Funding may not be available when needed, at all, or on terms acceptable to the Company. Lack of necessary funds may require the Company to, among other things, delay, scale back or eliminate some or all of the Company’s planned clinical or pre-clinical trials. Refer to Note 12 for additional information related to the Company's recent financings.

CASH, CASH EQUIVALENTS, AND RES

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	6 Months Ended
	Jun. 30, 2024
Cash and Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	3. CASH, CASH EQUIVALENTS, AND RESTRICTED CASH The Company considers only those investments which are highly liquid, readily convertible to cash, and that mature within 90 days from the date of purchase to be cash equivalents. At June 30, 2024 and December 31, 2023, cash equivalents were comprised of money market funds and corporate debt securities with maturities less than 90 days from the date of purchase. Restricted cash as of June 30, 2024 included security for a stand-by letter of credit issued in fav or of a landlord for $ 0.7 million of which $ 0.3 million was classified in current assets and $ 0.4 million was classified in noncurrent assets as of June 30, 2024. Cash, cash equivalents, and restricted cash consist of the following (in thousands): June 30, 2024 December 31, 2023 Cash $ 4,502 $ 4,029 Cash equivalents 19,184 9,695 Cash and cash equivalents 23,686 13,724 Restricted cash, current 285 192 Restricted cash, noncurrent 385 478 Restricted cash 670 670 Total cash, cash equivalents, and restricted cash shown in the statement of cash $ 24,356 $ 14,394 As of June 30, 2024, the Co mpany’s cash and cash equivalents held in the U.S. was approximately $ 19.4 million and approximately $ 4.3 million of cash was held in its subsidiaries in the United Kingdom and Australia. As of December 31, 2023, all of the Company’s cash was held in the U.S., except for approximately $ 3.8 million of cash which was held in its subsidiaries in the United Kingdom and Australia. Our foreign subsidiaries in the United Kingdom and Australia may qualify for refundable research and development tax credits in the form of cash that were earned on certain research and development expenses incurred primarily outside of the U.S. The Company received no refundable research and development credits from foreign tax authorities for the three months ended June 30, 2024 and 2023 and $ 2.5 million for the six months ended June 30, 2024 recorded in other income (expense), net. No future conditions impact the recognition of these tax credits.

INVESTMENTS

INVESTMENTS	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	4. INVESTMENTS The following table summarizes the Company’s investments as of June 30, 2024 (in thousands): Amortized Cost Gross Gross Fair Value Debt Securities: U.S. Treasury securities $ 10,428 $ - $ ( 42 ) $ 10,386 U.S. government agency securities 23,908 - ( 127 ) 23,781 Corporate debt securities 89,388 1 ( 217 ) 89,172 Total $ 123,724 $ 1 $ ( 386 ) $ 123,339 The following table summarizes the amortized cost and fair value of the Company’s available-for-sale marketable debt securities by contractual maturity as of June 30, 2024 (in thousands): Amortized Cost Fair Value Maturing in one year or less $ 97,800 $ 97,574 Maturing after one year but less than three years 25,924 25,765 $ 123,724 $ 123,339 The following table summarizes the Company’s investments as of December 31, 2023 (in thousands): Amortized Cost Gross Gross Fair Value Debt Securities: Corporate debt securities 7,182 1 ( 1 ) 7,182 Total $ 7,182 $ 1 $ ( 1 ) $ 7,182 The following table summarizes the amortized cost and fair value of the Company’s available-for-sale marketable debt securities by contractual maturity as of December 31, 2023 (in thousands): Amortized Cost Fair Value Maturing in one year or less $ 7,182 $ 7,182 $ 7,182 $ 7,182

FAIR VALUE OF FINANCIAL ASSETS

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	5. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of June 30, 2024 (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 13,257 $ — $ — $ 13,257 Corporate debt securities — 5,927 — 5,927 Investments: U.S. Treasury securities — 10,386 — 10,386 U.S. government agency securities — 23,781 — 23,781 Corporate debt securities — 89,172 — 89,172 $ 13,257 $ 129,266 $ — $ 142,523 The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2023 (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash Equivalents: Money market funds $ 7,833 $ — $ — $ 7,833 Corporate debt securities — 1,862 — 1,862 Investments: Corporate debt securities — 7,182 — 7,182 $ 7,833 $ 9,044 $ — $ 16,877 Liabilities: Derivative liabilities $ — $ — $ 39 $ 39

LICENSE AGREEMENTS

LICENSE AGREEMENTS	6 Months Ended
	Jun. 30, 2024
License Agreements
LICENSE AGREEMENTS	6. LICENSE AGREEMENTS The Company entered into a license agreement (the “Jenrin License Agreement”) with Jenrin Discovery, LLC ("Jenrin"), a privately-held Delaware limited liability company, effective September 20, 2018. Pursuant to the Jenrin License Agreement, Jenrin granted the Company exclusive worldwide rights to develop and commercialize the Licensed Products (as defined in the Jenrin Agreement) which includes the Jenrin library of over 600 compounds and multiple issued and pending patent filings. The compounds are designed to treat inflammatory and fibrotic diseases by targeting the endocannabinoid system. In consideration of the license and other rights granted by Jenrin, the Company paid Jenrin a $ 0.3 million upfront cash payment and is obligated to pay potential milestone payments to Jenrin totaling up to $ 18.4 million for each compound it elects to develop based upon the achievement of specified development and regulatory milestones. In addition, the Company is obligated to pay Jenrin royalties in the mid, single digits based on net sales of any Licensed Products, subject to specified reductions. The Company entered into a license agreement (the “Milky Way License Agreement”) with Milky Way BioPharma, LLC (“Milky Way”), a subsidiary of Panorama Research Inc., effective May 25, 2021. Pursuant to the Milky Way License Agreement, the Company received an exclusive license, under certain patent rights and know-how owned or controlled by Milky Way, to develop, commercialize, and otherwise exploit products containing antibodies against integrin αvβ6 and/or integrin αvβ8 (“Licensed Products”), one of which the Company is referring to as CRB-602. Under the terms of the Milky Way License Agreement, the Company had sole responsibility for research, development, and commercialization of any Licensed Products, and the Company had agreed to use commercially reasonable efforts to perform these activities. The Milky Way Agreement may be terminated earlier in specified situations, including termination for material breach or termination by the Company with advance notice. A notice of termination without reason was executed by the Company and sent to Milky Way on January 25, 2024, terminating the Milky Way Agreement effective as of July 23, 2024. The Company entered into a license agreement (the “UCSF License Agreement”) with the Regents of the University of California (“The Regents”) effective May 26, 2021. Pursuant to the UCSF License Agreement, the Company received an exclusive license to certain patents relating to humanized antibodies against integrin αvβ8, one of which the Company is referring to as CRB-601, along with non-exclusive licenses to certain related know-how and materials. The Company amended the UCSF License Agreement with The Regents effective November 17, 2022 adding additional antibody patents to the agreement. In consideration for the license and other rights granted to the Company under the UCSF License Agreement, the Company paid The Regents a license issue fee of $ 1.5 million. In consideration for the additional antibody patents granted to the Company, the Company paid The Regents a license issue fee of $ 0.8 million , paid in two equal installments of $ 0.4 million . The Company further amended the UCSF License Agreement with The Regents effective August 14, 2023 to incorporate certain new technology rights and amend the payment schedule for the development milestone for the filing of patent rights and the development milestone for the filing of an Investigational New Drug ("IND"). In addition to the license issuance fees, the Company is obligated to pay an annual license maintenance fee, as well as up to $ 153.2 million in potential milestone payments, excluding indication milestones for antibodies used for diagnostic products and services that will be an additional $ 50.0 thousand for each new indication, for the achievement of certain development, regulatory, and sales milestones. In addition, the Company is also obligated to pay royalties in the lower, single digits on sales of products falling within the scope of the licensed patents, which is subject to a minimum annual royalty obligation, and a percentage share of certain payments received by the Company from sublicensees or in connection with the sale of the licensed program. The Company entered into a license agreement (the “CSPC License Agreement”) with CSPC Megalith Biopharmaceutical Co., Ltd. ("CSPC"), a subsidiary of CSPC Pharmaceutical Group Limited, effective February 12, 2023. Pursuant to the CSPC License Agreement, the Company received an exclusive license to develop and commercialize a novel clinical stage antibody drug conjugate targeting Nectin-4, which the Company is referring to as CRB-701, in the U.S., Canada, the European Union (including the European Free Trade Area), the United Kingdom, and Australia. In consideration for the license granted to the Company under the CSPC License Agreement, the Company will pay CSPC an upfront payment of $ 7.5 million ($ 5.0 million paid at signing during the first quarter 2023 followed by a $ 2.5 million payment due in August 2024). The Company is obligated to pay potential milestone payments to CSPC totaling up to $ 130.0 million based upon the achievement of specified development and regulatory milestones and $ 555.0 million in potential commercial milestone payments. In addition, we are obligated to pay royalties in the low double digits based on net sales of any Licensed Products, as defined in the CSPC License Agreement. The Company determined that substantially all of the fair value of the Jenrin License Agreement and CSPC License Agreement was attributable to a single in-process research and development asset which did not constitute a business. The Company determined that substantially all of the fair value of the Milky Way License Agreement and the UCSF License Agreement was attributable to separate groups of in-process research and development assets which did not constitute a business. The Company concluded that it did not have any alternative future use for the acquired in-process research and development assets. Thus, the Company recorded the various upfront payments to research and development expenses in the quarter the license deals became effective. The Company will account for the development, regulatory, and sales milestone payments in the period that the relevant milestones are achieved as either research and development expense or as an intangible asset as applicable. As of June 30, 2024, the Company has accrued license costs of $ 4.1 million included within accrued expenses on the condensed consolidated balance sheet related to the remaining $ 2.5 million due to CSPC under the CSPC License Agreement for an upfront license payment and $ 1.6 million due to The Regents under the UCSF License Agreement for achieved milestone payments (due on December 30, 2024 based upon the amended payment schedule). For the three and six months ended June 30, 2024 , no research and development expense associated with upfront payments or clinical milestones were incurred under any of the above agreements. Research and development expenses associated with upfront payments and clinical milestones were $ 0 and $ 9.1 million, respectively, for the three and six months ended June 30, 2023 .

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	7. PROPERTY AND EQUIPMENT Property and equipment consisted of the following (in thousands): June 30, December 31, Computer hardware and software $ 84 $ 84 Office furniture and equipment 1,114 1,114 Leasehold improvements 3,331 3,331 Property and equipment, gross 4,529 4,529 Less: accumulated depreciation ( 3,858 ) ( 3,556 ) Property and equipment, net $ 671 $ 973 Depreciation expense was $ 0.2 million and $ 0.2 million for the three months ended June 30, 2024 and 2023 , respectively and $ 0.3 million and $ 0.3 million for the six months ended June 30, 2024 and 2023, respectively. The Company notes no impairment charges were taken in the three and six months ended June 30, 2024 and 2023 .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	8. COMMITMENTS AND CONTINGENCIES Operating Lease Commitment Pursuant to the terms of the Company’s non-cancelable lease agreements in effect at June 30, 2024, the following table summarizes the Company’s maturities of operating lease liabilities as of June 30, 2024 (in thousands): 2024 $ 878 2025 1,795 2026 1,688 Total lease payments 4,361 Less: imputed interest ( 386 ) Total $ 3,975 Sublease Commitment Effective August 26, 2021, the Company entered into a sublease agreement with a third party to sublease 12,112 square feet of the 30,023 square feet currently being leased under one of its two existing lease agreements. The sublease commenced on October 1, 2021 and was scheduled to end on October 31, 2026, however, it was terminated on June 24, 2024. The Company notes sublease income of $ 0 and $ 0.1 million for the three months ended June 30, 2024 and 2023, respectively and $ 0.2 million and $ 0.1 million for the six months ended June 30, 2024 and 2023, respectively w as recognized and offset against rent expense.

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
NOTES PAYABLE	9. NOTES PAYABLE D&O Financing In November 2023, the Company entered into a loan agreement with a financing company for $ 0.4 million to finance one of the Company’s insurance policies. The terms of the loan stipulate equal monthly payments of principal and interest payments of $ 39.0 thousand over a 10-month period . Interest accrues on this loan at an annual rate of 8.15 %. Prepaid expenses as of June 30, 2024 and December 31, 2023, included approximately $ 0.1 million and $ 0.3 million , respectively, related to the underlying insurance policy being financed. Loan and Security Agreement with K2 HealthVentures LLC On July 28, 2020, the Company, with its subsidiary, Corbus Pharmaceuticals, Inc., as borrower, entered into a secured Loan and Security Agreement with K2 HealthVentures LLC (“K2HV”), an unrelated third party (the “Loan and Security Agreement”) and received $ 20.0 million upon signing. The Company entered into an Amendment to the Loan and Security Agreement (the "Amended Loan and Security Agreement") on October 25, 2022. Interest payments are made monthly and accrue at a variable annual rate equal to the greater of (i) 8.5% and (ii) the rate of interest noted in The Wall Street Journal, Money Rates section, as the “Prime Rate” plus 5.25%, in each case, subject to a step-down of 25 basis points upon the funding of the second tranche. The interest rate used at June 30, 2024 was 13.75 %. Pursuant to the Amended Loan and Security Agreement, K2HV may elect to convert up to $ 5.0 million of the outstanding loan balance into shares of the Company’s common stock at conversion prices as follows: $ 0.9 million of the loan at $ 4.50 per share, $ 1.1 million at $ 7.875 per share, and $ 3.0 million at $ 282.00 per share. On June 1, 2023, K2HV converted $ 0.9 million of the outstanding loan balance into 194,444 shares of the Company's stock at a conversion price of $ 4.50 per share. On March 6, 2024, K2HV converted $ 1.1 million of the outstanding loan balance into 142,857 shares of the Company's stock at a conversion price of $ 7.875 per share. As of June 30, 2024 , $ 3.0 million of the outstanding loan balance remains available to convert into shares of the Company's common stock. In connection with the Loan and Security Agreement, on July 28, 2020, the Company issued K2HV a warrant to purchase up to 2,873 common shares (the “K2 Warrant”) at an exercise price of $ 208.80 (the “Warrant Price”). The K2 Warrant may be exercised either for cash or on a cashless “net exercise” basis and expires on July 28, 2030. The Company is required to make a final payment in excess of the stated principal equal to $ 1.6 million at the end of the loan. This payment has been amortized over the life of the loan through interest expense, net within the condensed consolidated statements of operations and comprehensive loss and is included in accrued expense on the condensed consolidated balance sheet as of June 30, 2024. The Loan and Security Agreement includes both financial and non-financial covenants. The Company was in compliance with these covenants as of June 30, 2024. The obligations under the Loan and Security Agreement are secured on a senior basis by a lien on substantially all of the assets of the Company and its subsidiaries. The subsidiaries of the Company are guarantors of the obligations of the Company under the Loan and Security Agreement. The total debt discount related to the Amended Loan and Security Agreement of approximately $ 3.0 million is being charged to interest expense using the effective interest method over the term of the debt. At June 30, 2024 and December 31, 2023, the fair value of our outstanding debt, which is considered level 3 in the fair value hierarchy, approximates carrying value. Interest expense for the three and six months ended June 30, 2024 was approximately $ 0.6 million and $ 1.5 million , respectively. Interest expense for the three and six months ended June 30, 2023 was $ 1.0 million and $ 1.9 million , respectively. The net carrying amounts of the liability components consists of the following (in thousands): June 30, 2024 December 31, 2023 Principal $ 10,820 $ 16,304 Less: debt discount ( 2,954 ) ( 2,954 ) Accretion of debt discount 2,878 2,558 Net carrying amount $ 10,744 $ 15,908 As of June 30, 2024, t he total principal amount of the loan under the Amended Loan and Security Agreement outstanding at June 30, 2024 is $ 12.4 million. This is comprised of $ 10.8 million principal amount outstanding at June 30, 2024 and the $ 1.6 million final payment discussed above. The Company made a monthly payment on the principal balance of $ 0.7 million on July 1, 2024. On August 1, 2024, t he loan matured and the Company made a final payment in the amount of $ 11.8 million, which represents $ 10.1 million principal outstanding on the maturity date, $ 1.6 million final payment and accrued interest.

ACCRUED EXPENSES

ACCRUED EXPENSES	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
ACCRUED EXPENSES	10. ACCRUED EXPENSES Accrued expenses consisted of the following (in thousands): June 30, December 31, Accrued pre-clinical and clinical costs $ 1,174 $ 1,449 Accrued product development costs 737 745 Accrued license costs 4,125 4,825 Accrued compensation 2,297 2,326 Accrued administrative costs 625 343 Accrued interest 1,530 1,342 Total $ 10,488 $ 11,030 For the three and six months ended June 30, 2024 and 2023 , there were no material adjustments to the Company’s prior period estimates of accrued expenses for clinical trials.

NET LOSS PER COMMON SHARE

NET LOSS PER COMMON SHARE	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Loss Per Common Share	11. NET LOSS PER COMMON SHARE The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2024 and 2023 (in thousands except share and per share amounts): Three Months Ended Six Months Ended 2024 2023 2024 2023 Net loss $ ( 9,997 ) $ ( 8,784 ) $ ( 16,896 ) $ ( 26,529 ) Weighted average number of common shares-basic 11,053,241 4,277,701 9,681,875 4,229,894 Net loss per share of common stock-basic $ ( 0.90 ) $ ( 2.05 ) $ ( 1.75 ) $ ( 6.27 ) Stock options and warrants that have not been exercised and unvested restricted stock units (see Notes 13 and 14) have been excluded from the diluted calculation as all periods presented have a net loss and the impact of these securities would be anti-dilutive.

COMMON STOCK

COMMON STOCK	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
STOCKHOLDERS' EQUITY	12. STOCKHOLDERS' EQUITY Preferred Stock The Company has authorized 10,000,000 shares of preferred stock, $ 0.0001 par value per share, of which 0 shares were issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. Authorized Common Stock The Company has authorized 300,000,000 shares of common stock, $ 0.0001 par value per share, of which 11,498,917 and 4,423,683 shares were issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. Public Offering On January 31, 2024, the Company entered into an underwriting agreement with Jefferies LLC (“Jefferies”), as representative of the several underwriters, relating to an underwritten public offering of 4,325,000 shares of the Company’s common stock, par value $ 0.0001 , at a price to the public of $ 19.00 per share. The underwriters were also granted a 30-day option to purchase up to an additional 648,750 shares of common stock at the public offering price. On January 31, 2024, Jefferies gave notice to the Company of the underwriters’ election to exercise the option to purchase additional shares, in full. On February 2, 2024, the Company completed the public offering raising gross proceeds of approximately $ 94.5 million and net proceeds of $ 88.6 million after deducting underwriting discounts and commissions and other offering expenses payable by the Company. Open Market Sale Agreement On May 31, 2023, the Company entered into Amendment No. 1 to the Open Market Sale Agreement originally dated August 6, 2020 (as amended, the “Open Market Sale Agreement”) with Jefferies, as sales agent. Under the Open Market Sale Agreement, the Company may issue and sell, from time to time through Jefferies, shares of its common stock having an aggregate offering price of up to $ 150.0 million (the “2024 Open Market Offering”). Under the Open Market Sale Agreement, Jefferies may sell the common stock by any method permitted by law deemed to be an “at-the-market offering” as defined by Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended. The Company may sell common stock in amounts and at times to be determined by the Company subject to the terms and conditions of the Open Market Sale Agreement, but the Company has no obligation to sell any of the common stock in the 2024 Open Market Offering. The Company has agreed to pay Jefferies a commission of 3.0 % of the aggregate gross proceeds from each sale of common stock and have agreed to provide Jefferies with customary indemnification and contribution rights. The Company has also agreed to reimburse Jefferies for certain specified expenses. During the three and six months ended June 30, 2024 , the Company sold an aggregate of 881,399 and 1,820,787 shares of common stock, respectively, under the Open Market Sale Agreement, for net proceeds of approximately $ 35.6 million and $ 55.8 million, respectively. As of June 30, 2024 , approximately $ 113.2 million was available for issuance and sale under the 2024 Open Market Offering. During the three and six months ended June 30, 2023 , the Company sold an aggregate of 13,164 shares of common stock under the Open Market Sale Agreement, for net proceeds of app roximately $ 0.1 million . Other Common Stock Transactions During the three and six months ended June 30, 2024, the Company issue d 0 and 142,857 shares of common stock in a conversion pursuant to the K2HV Amended Loan and Security Agreement, respectively. During the three and six months ended June 30, 2023, the Company issue d 194,444 shares of common stock in a conversion pursuant to the K2HV Amended Loan and Security Agreement. During the three and six months ended June 30, 2024, the Company i ssued 109,845 and 134,076 shares of common stock upon the exercise of stock options to purchase common stock and the Company received proceeds of $ 1.7 millio n and $ 1.9 million from those exercises, respectively. During the three and six months ended June 30, 2023, the Company i ssued 0 a nd 43,836 shares of common stock upon the exercise of stock options to purchase common stock and the Company received proceeds of $ 0 and $ 0.1 million from those exercises, respectively. During the three and six months ended June 30, 2024, the Company issued 436 and 3,764 comm on shares from the vesting of shares from restricted stock under the 2014 Plan. No shares of common shares were issued during the three and six months ended June 30, 2023 from the vesting of shares from restricted stock under the 2014 Plan. No warrants were exercised during the three and six months ended June 30, 2024 and 2023 .

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
STOCKHOLDERS' EQUITY	12. STOCKHOLDERS' EQUITY Preferred Stock The Company has authorized 10,000,000 shares of preferred stock, $ 0.0001 par value per share, of which 0 shares were issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. Authorized Common Stock The Company has authorized 300,000,000 shares of common stock, $ 0.0001 par value per share, of which 11,498,917 and 4,423,683 shares were issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. Public Offering On January 31, 2024, the Company entered into an underwriting agreement with Jefferies LLC (“Jefferies”), as representative of the several underwriters, relating to an underwritten public offering of 4,325,000 shares of the Company’s common stock, par value $ 0.0001 , at a price to the public of $ 19.00 per share. The underwriters were also granted a 30-day option to purchase up to an additional 648,750 shares of common stock at the public offering price. On January 31, 2024, Jefferies gave notice to the Company of the underwriters’ election to exercise the option to purchase additional shares, in full. On February 2, 2024, the Company completed the public offering raising gross proceeds of approximately $ 94.5 million and net proceeds of $ 88.6 million after deducting underwriting discounts and commissions and other offering expenses payable by the Company. Open Market Sale Agreement On May 31, 2023, the Company entered into Amendment No. 1 to the Open Market Sale Agreement originally dated August 6, 2020 (as amended, the “Open Market Sale Agreement”) with Jefferies, as sales agent. Under the Open Market Sale Agreement, the Company may issue and sell, from time to time through Jefferies, shares of its common stock having an aggregate offering price of up to $ 150.0 million (the “2024 Open Market Offering”). Under the Open Market Sale Agreement, Jefferies may sell the common stock by any method permitted by law deemed to be an “at-the-market offering” as defined by Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended. The Company may sell common stock in amounts and at times to be determined by the Company subject to the terms and conditions of the Open Market Sale Agreement, but the Company has no obligation to sell any of the common stock in the 2024 Open Market Offering. The Company has agreed to pay Jefferies a commission of 3.0 % of the aggregate gross proceeds from each sale of common stock and have agreed to provide Jefferies with customary indemnification and contribution rights. The Company has also agreed to reimburse Jefferies for certain specified expenses. During the three and six months ended June 30, 2024 , the Company sold an aggregate of 881,399 and 1,820,787 shares of common stock, respectively, under the Open Market Sale Agreement, for net proceeds of approximately $ 35.6 million and $ 55.8 million, respectively. As of June 30, 2024 , approximately $ 113.2 million was available for issuance and sale under the 2024 Open Market Offering. During the three and six months ended June 30, 2023 , the Company sold an aggregate of 13,164 shares of common stock under the Open Market Sale Agreement, for net proceeds of app roximately $ 0.1 million . Other Common Stock Transactions During the three and six months ended June 30, 2024, the Company issue d 0 and 142,857 shares of common stock in a conversion pursuant to the K2HV Amended Loan and Security Agreement, respectively. During the three and six months ended June 30, 2023, the Company issue d 194,444 shares of common stock in a conversion pursuant to the K2HV Amended Loan and Security Agreement. During the three and six months ended June 30, 2024, the Company i ssued 109,845 and 134,076 shares of common stock upon the exercise of stock options to purchase common stock and the Company received proceeds of $ 1.7 millio n and $ 1.9 million from those exercises, respectively. During the three and six months ended June 30, 2023, the Company i ssued 0 a nd 43,836 shares of common stock upon the exercise of stock options to purchase common stock and the Company received proceeds of $ 0 and $ 0.1 million from those exercises, respectively. During the three and six months ended June 30, 2024, the Company issued 436 and 3,764 comm on shares from the vesting of shares from restricted stock under the 2014 Plan. No shares of common shares were issued during the three and six months ended June 30, 2023 from the vesting of shares from restricted stock under the 2014 Plan. No warrants were exercised during the three and six months ended June 30, 2024 and 2023 .

STOCK-BASED COMPENSATION AWARDS

STOCK-BASED COMPENSATION AWARDS	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION AWARDS	13. STOCK-BASED COMPENSATION AWARDS On May 16, 2024, the Company's stockholders approved the 2024 Equity Compensation Plan (the “2024 Plan”) authorizing the issuance of up to 2,000,000 shares , succeeding the 2014 Equity Incentive Plan (the “2014 Plan”), under which no further grants may be made pursuant to the terms of the 2014 Plan. Pursuant to the 2024 Plan, the board of directors may grant nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance shares, performance units, incentive bonus awards, other cash-based awards and other stock-based awards to employees, officers, non-employee directors, and other individual service providers. Under the terms of the 2024 Plan and 2014 Plan, the Company granted stock options and RSUs to employees, officers, non-employee directors, consultants and advisors. Stock options have a ten-year term and an exercise price equal to the fair market value of a share of our common stock on the grant date. Stock options generally vest over four years with 25 % vesting on the one-year anniversary of the grant date and the remainder vesting in equal monthly installments thereafter, except for grants to non-employee directors that vest annually. RSUs generally vest over a period of one to four years in annual installments beginning on the first anniversary of the grant date. As of June 30, 2024 , an aggregate of 913,325 shares of common stock were reserved for issuance upon the exercise or vesting of outstanding awards under the 2014 Plan. No additional grants can be made under the 2014 Plan. As of June 30, 2024 , an aggregate of 73,462 shares of common stock were reserved for issuance upon the exercise or vesting of outstanding awards and up to 1,926,538 shares of common stock may be issued pursuant to awards granted under the 2024 Plan. Stock-based Compensation Expense In connection with all stock-based compensation awards, total non-cash, stock-based compensation expense recognized in the condensed consolidated statements of operations and comprehensive loss was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Research and development expenses $ 268 $ 96 $ 404 $ 190 General and administrative expenses 1,020 727 1,866 1,660 Total stock-based compensation $ 1,288 $ 823 $ 2,270 $ 1,850 The total stock-based compensation expense recognized by award type was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options $ 892 $ 819 $ 1,722 $ 1,843 Restricted stock units 396 4 548 7 Total stock-based compensation $ 1,288 $ 823 $ 2,270 $ 1,850 Stock Options The fair value of each stock option award is estimated on the date of grant using the Black-Scholes stock option pricing model that uses the assumptions noted in the following table, except for the expected term for non-employees as noted in the following paragraph. The expected term of employee and non-employee director stock options granted under the 2014 Plan and 2024 Plan, all of which qualify as “plain vanilla” per SEC Staff Accounting Bulletin 107, is determined based on the simplified method due to the Company’s limited operating history. The expected term is applied to the stock option grant group as a whole, as the Company does not expect substantially different exercise or post-vesting termination behavior among our employee population. For non-employee stock options, excluding directors, the Company has elected to utilize the contractual term as the expected term. The risk-free rate is based on the yield of a U.S. Treasury security with a term consistent with that used to value the stock option. The Company accounts for forfeitures as they occur. The weighted average assumptions used principally in determining the fair value of stock options granted to employees and non-employee directors were as follows: Six Months Ended June 30, 2024 2023 Risk-free interest rate 4.25 % 3.81 % Expected dividend yield 0 % 0 % Expected term in years (employee options) 6.19 6.25 Expected volatility 124.31 % 101.33 % A summary of stock option activity for the six months ended June 30, 2024 is presented below: Stock Options Shares Weighted Weighted Average Aggregate Outstanding at December 31, 2023 708,762 $ 63.96 Granted 236,850 27.22 Exercised ( 134,076 ) 14.48 Forfeited or canceled ( 54,879 ) 9.29 Expired ( 18,678 ) 70.73 Outstanding at June 30, 2024 737,979 $ 65.05 7.27 $ 12,172 Exercisable at June 30, 2024 370,025 $ 106.89 5.43 $ 3,458 The weighted average grant date fair value of stock options granted during the six months ended June 30, 2024 and 2023 was $ 24.30 and $ 4.20 per share, respectively. The aggregate intrinsic value of stock options exercised during the six months ended June 30, 2024 and 2023 was approximately $ 4.1 million and $ 0.1 million, respectively. As of June 30, 2024 , there was approximately $ 6.7 million of total unrecognized compensation expense, related to non-vested share-based stock option compensation arrangements. The unrecognized compensation expense is estimated to be recognized over a weighted average period of 1.53 years as of June 30, 2024. Restricted Stock Units A RSU represents the right to receive one share of our common stock upon vesting of the RSU. The fair value of each RSU is based on the closing price of our common stock on the date of grant. The Company accounts for forfeitures as they occur. A summary of RSU activity for the six months ended June 30, 2024 is presented below: RSU's Number of Shares Underlying RSUs Weighted Unvested at December 31, 2023 17,911 $ 5.14 Granted 236,854 $ 26.85 Forfeited ( 2,193 ) $ 17.15 Vested ( 3,764 ) $ 4.89 Unvested at June 30, 2024 248,808 $ 25.71 As of June 30, 2024 , there was $ 5.9 million of unrecognized compensation expense related to unvested RSUs, which are expected to be recognized over a weighted average period of 2.12 years.

WARRANTS

WARRANTS	6 Months Ended
	Jun. 30, 2024
Warrants
WARRANTS	14. WARRANTS No warrants were exercised during the three and six months ended June 30, 2024 and 2023. At June 30, 2024, there were warrants outstanding to purchase 50,207 shares of common stock with a weighted average exercise price of $ 283.81 and a weighted average remaining life of 1.11 years. On January 26, 2018, the Company entered into an Investment Agreement with the Cystic Fibrosis Foundation ("CFF") that included issuance of a warrant to purchase an aggregate of 33,334 shares of the Company’s common stock (the “CFF Warrant”) at an exercise price of $ 396.00 per share. The CFF Warrant is currently exercisable for 33,334 shares of the Company’s common stock and expires on January 26, 2025 . On July 28, 2020, the Company entered into the Loan and Security Agreement with K2HV and in connection with the funding of $ 20.0 million, the Company issued a warrant exercisable for 2,873 shares of the Company’s common stock (the “K2 Warrant”) at an exercise price of $ 208.80 per share. The K2 Warrant is immediately exercisable for 2,873 shares and expires on July 28, 2030 . On October 16, 2020, the Company entered into a professional services agreement with an investor relations service provider. Pursuant to the agreement, the Company issued warrants exercisable for a total of 14,000 shares of the Company’s common stock (the “Warrants”) at an exercise price of $ 32.10 per share. The Warrants became fully vested on October 19, 2021 and expire on November 3, 2025 .

DERIVATIVE LIABILITY

DERIVATIVE LIABILITY	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE LIABILITY	15. DERIVATIVE LIABILITY On July 28, 2020, the Company, with its subsidiary, Corbus Pharmaceuticals, Inc., as borrower, entered into the secured Loan and Security Agreement with K2HV and received $ 20.0 million upon signing. The Company has determined that a prepayment feature and default feature needed to be separately valued and marked to market each reporting period after assessing the agreement under ASC 815. The value of these features is determined each reporting period by taking the present value of net cash flows with and without the prepayment features. The significant assumption used to determine the fair value of the debt without any features is the discount rate which has been estimated by using published market rates of CCC-rated public companies. All other inputs are taken from the Loan and Security Agreement. The additional significant assumptions used when valuing the prepayment feature is the probability of a change of control event. The Company has determined the probability from December 31, 2023 to June 30, 2024 has decreased from 10 % to 0 % . The additional significant assumption used when valuing the default feature is the probability of defaulting on the repayment of the loan. The Company has determined the probability from December 31, 2023 to June 30, 2024 has decreased from 55 % to 0 % . The value of these features was determined to be $ 0 at June 30, 2024 , which resulted in income of $ 39.0 thousand recognized in the six months ended June 30, 2024. The Company considers the fair value of the derivative liability to be Level 3 under the three-tier fair value hierarchy. A roll forward of the fair value of the derivative liabilities for the six months ended June 30, 2024 is presented below (in thousands). June 30, 2024 Beginning balance, December 31, 2023 $ 39 Change in fair value of derivative liabilities ( 39 ) Ending balance, June 30, 2024 $ —

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	16. SUBSEQUENT EVENTS Open Market Sale Agreement From July 1, 2024 through August 1, 2024, the Company has sold approximately 544,295 shares of its common stock pursuant to the Open Market Sale Agreement for which the Company received net proceeds of approximately $ 28.8 million. Loan and Security Agreement with K2 HealthVentures LLC The loan from K2HV matured on August 1, 2024 and the Company made the final payment in the amount of $ 11.8 million, which represents $ 10.1 million principal outstanding on the maturity date, $ 1.6 million final payment and accrued interest.

NATURE OF BUSINESS AND BASIS _2

NATURE OF BUSINESS AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP") for interim financial reporting. In the opinion of management of the Company, the accompanying unaudited condensed consolidated interim financial statements reflect all adjustments (which include only normal recurring adjustments) necessary to present fairly, in all material respects, the condensed consolidated financial position of the Company as of June 30, 2024 and the results of its operations and changes in stockholders’ equity for the three and six months ended June 30, 2024 and 2023 and its cash flows for the six months ended June 30, 2024 and 2023. The December 31, 2023 condensed consolidated balance sheet was derived from audited financial statements. The Company prepared the condensed consolidated financial statements following the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim reporting. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 , filed on March 12, 2024 (the “2023 Annual Report”). The results of operations for such interim periods are not necessarily indicative of the operating results for the full fiscal year.
Basis of Consolidation	Basis of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and accounts have been eliminated in consolidation. The significant accounting policies used in preparation of these condensed consolidated financial statements in this Form 10-Q are consistent with those discussed in Note 3, “Significant Accounting Policies,” in our 2023 Annual Report.

CASH, CASH EQUIVALENTS, AND R_2

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (Tables)	6 Months Ended
	Jun. 30, 2024
Cash and Cash Equivalents [Abstract]
Schedule of cash, cash equivalents and restricted cash	Cash, cash equivalents, and restricted cash consist of the following (in thousands): June 30, 2024 December 31, 2023 Cash $ 4,502 $ 4,029 Cash equivalents 19,184 9,695 Cash and cash equivalents 23,686 13,724 Restricted cash, current 285 192 Restricted cash, noncurrent 385 478 Restricted cash 670 670 Total cash, cash equivalents, and restricted cash shown in the statement of cash $ 24,356 $ 14,394

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
SUMMARY OF MARKETABLE SECURITIES	The following table summarizes the Company’s investments as of June 30, 2024 (in thousands): Amortized Cost Gross Gross Fair Value Debt Securities: U.S. Treasury securities $ 10,428 $ - $ ( 42 ) $ 10,386 U.S. government agency securities 23,908 - ( 127 ) 23,781 Corporate debt securities 89,388 1 ( 217 ) 89,172 Total $ 123,724 $ 1 $ ( 386 ) $ 123,339 The following table summarizes the Company’s investments as of December 31, 2023 (in thousands): Amortized Cost Gross Gross Fair Value Debt Securities: Corporate debt securities 7,182 1 ( 1 ) 7,182 Total $ 7,182 $ 1 $ ( 1 ) $ 7,182
SCHEDULE OF AVAILABLE FOR SALE DEBT SECURITIES BY CONTRACTUAL MATURITY	The following table summarizes the amortized cost and fair value of the Company’s available-for-sale marketable debt securities by contractual maturity as of June 30, 2024 (in thousands): Amortized Cost Fair Value Maturing in one year or less $ 97,800 $ 97,574 Maturing after one year but less than three years 25,924 25,765 $ 123,724 $ 123,339 The following table summarizes the amortized cost and fair value of the Company’s available-for-sale marketable debt securities by contractual maturity as of December 31, 2023 (in thousands): Amortized Cost Fair Value Maturing in one year or less $ 7,182 $ 7,182 $ 7,182 $ 7,182

FAIR VALUE OF FINANCIAL ASSET_2

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON RECURRING BASIS	June 30, 2024 (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 13,257 $ — $ — $ 13,257 Corporate debt securities — 5,927 — 5,927 Investments: U.S. Treasury securities — 10,386 — 10,386 U.S. government agency securities — 23,781 — 23,781 Corporate debt securities — 89,172 — 89,172 $ 13,257 $ 129,266 $ — $ 142,523 The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values as of December 31, 2023 (in thousands): Level 1 Level 2 Level 3 Total Assets: Cash Equivalents: Money market funds $ 7,833 $ — $ — $ 7,833 Corporate debt securities — 1,862 — 1,862 Investments: Corporate debt securities — 7,182 — 7,182 $ 7,833 $ 9,044 $ — $ 16,877 Liabilities: Derivative liabilities $ — $ — $ 39 $ 39

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
SUMMARY OF PROPERTY AND EQUIPMENT	Property and equipment consisted of the following (in thousands): June 30, December 31, Computer hardware and software $ 84 $ 84 Office furniture and equipment 1,114 1,114 Leasehold improvements 3,331 3,331 Property and equipment, gross 4,529 4,529 Less: accumulated depreciation ( 3,858 ) ( 3,556 ) Property and equipment, net $ 671 $ 973

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES	Pursuant to the terms of the Company’s non-cancelable lease agreements in effect at June 30, 2024, the following table summarizes the Company’s maturities of operating lease liabilities as of June 30, 2024 (in thousands): 2024 $ 878 2025 1,795 2026 1,688 Total lease payments 4,361 Less: imputed interest ( 386 ) Total $ 3,975

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
SCHEDULE OF NOTES PAYABLE	The net carrying amounts of the liability components consists of the following (in thousands): June 30, 2024 December 31, 2023 Principal $ 10,820 $ 16,304 Less: debt discount ( 2,954 ) ( 2,954 ) Accretion of debt discount 2,878 2,558 Net carrying amount $ 10,744 $ 15,908

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
SCHEDULE OF ACCRUED EXPENSES	Accrued expenses consisted of the following (in thousands): June 30, December 31, Accrued pre-clinical and clinical costs $ 1,174 $ 1,449 Accrued product development costs 737 745 Accrued license costs 4,125 4,825 Accrued compensation 2,297 2,326 Accrued administrative costs 625 343 Accrued interest 1,530 1,342 Total $ 10,488 $ 11,030

NET LOSS PER COMMON SHARE (Tabl

NET LOSS PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
SCHEDULE OF COMPUTATION OF NET LOSS PER COMMON SHARE	The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2024 and 2023 (in thousands except share and per share amounts): Three Months Ended Six Months Ended 2024 2023 2024 2023 Net loss $ ( 9,997 ) $ ( 8,784 ) $ ( 16,896 ) $ ( 26,529 ) Weighted average number of common shares-basic 11,053,241 4,277,701 9,681,875 4,229,894 Net loss per share of common stock-basic $ ( 0.90 ) $ ( 2.05 ) $ ( 1.75 ) $ ( 6.27 )

STOCK-BASED COMPENSATION AWAR_2

STOCK-BASED COMPENSATION AWARDS (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE	In connection with all stock-based compensation awards, total non-cash, stock-based compensation expense recognized in the condensed consolidated statements of operations and comprehensive loss was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Research and development expenses $ 268 $ 96 $ 404 $ 190 General and administrative expenses 1,020 727 1,866 1,660 Total stock-based compensation $ 1,288 $ 823 $ 2,270 $ 1,850 The total stock-based compensation expense recognized by award type was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options $ 892 $ 819 $ 1,722 $ 1,843 Restricted stock units 396 4 548 7 Total stock-based compensation $ 1,288 $ 823 $ 2,270 $ 1,850
SUMMARY OF FAIR VALUE OF OPTIONS GRANTED	The weighted average assumptions used principally in determining the fair value of stock options granted to employees and non-employee directors were as follows: Six Months Ended June 30, 2024 2023 Risk-free interest rate 4.25 % 3.81 % Expected dividend yield 0 % 0 % Expected term in years (employee options) 6.19 6.25 Expected volatility 124.31 % 101.33 %
SUMMARY OF OPTION ACTIVITY	A summary of stock option activity for the six months ended June 30, 2024 is presented below: Stock Options Shares Weighted Weighted Average Aggregate Outstanding at December 31, 2023 708,762 $ 63.96 Granted 236,850 27.22 Exercised ( 134,076 ) 14.48 Forfeited or canceled ( 54,879 ) 9.29 Expired ( 18,678 ) 70.73 Outstanding at June 30, 2024 737,979 $ 65.05 7.27 $ 12,172 Exercisable at June 30, 2024 370,025 $ 106.89 5.43 $ 3,458
SUMMARY OF RSU ACTIVITY	A summary of RSU activity for the six months ended June 30, 2024 is presented below: RSU's Number of Shares Underlying RSUs Weighted Unvested at December 31, 2023 17,911 $ 5.14 Granted 236,854 $ 26.85 Forfeited ( 2,193 ) $ 17.15 Vested ( 3,764 ) $ 4.89 Unvested at June 30, 2024 248,808 $ 25.71

DERIVATIVE LIABILITY (Tables)

DERIVATIVE LIABILITY (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
SCHEDULE OF FAIR VALUE OF DERIVATIVE LIABILITY	A roll forward of the fair value of the derivative liabilities for the six months ended June 30, 2024 is presented below (in thousands). June 30, 2024 Beginning balance, December 31, 2023 $ 39 Change in fair value of derivative liabilities ( 39 ) Ending balance, June 30, 2024 $ —

LIQUIDITY (Details Narrative)

LIQUIDITY (Details Narrative) - USD ($) $ in Thousands			6 Months Ended
	Feb. 02, 2024	Jan. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	May 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Retained earnings (accumulated deficit)			$ 453,580		$ 436,684
Cash, cash equivalents and marketable debt securities			147,000
Proceeds from Issuance of Common Stock			$ 146,130	$ 207
Jefferies LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Sale of Stock, Number of Shares Issued in Transaction		4,325,000
Proceeds from Issuance of Common Stock	$ 94,500
May 31, 2023 Market Sale Agreement | Jefferies LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Commission percentage						3%

CASH, CASH EQUIVALENTS, AND R_3

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash	$ 4,502	$ 4,029
Cash equivalents	19,184	9,695
Cash and cash equivalents	23,686	13,724
Restricted cash, current	285	192
Restricted Cash, noncurrent	385	478
Restricted cash	670	670
Total cash, cash equivalents, and restricted cash shown in the statement of cashflows	$ 24,356	$ 14,394

CASH, CASH EQUIVALENTS, AND R_4

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (Details Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Line Items]
Restricted Cash, Noncurrent	$ 385		$ 385	$ 478
Restricted Cash	670		670	670
Restricted Cash, Current	285		285	192
Other Operating Income (Expense), Net	0	$ 0	2,500
Letter of Credit [Member]
Cash and Cash Equivalents [Line Items]
Restricted Cash, Noncurrent	400		400
Restricted Cash	700		700
Restricted Cash, Current	300		300
UNITED STATES
Cash and Cash Equivalents [Line Items]
Cash held in subsidiary	19,400		19,400
UNITED KINGDOM
Cash and Cash Equivalents [Line Items]
Cash held in subsidiary	$ 4,300		$ 4,300	$ 3,800

INVESTMENTS - SUMMARY OF INVEST

INVESTMENTS - SUMMARY OF INVESTMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Net Investment Income [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 123,724	$ 7,182
Debt Securities, Available-for-sale	123,339	7,182
Available for Sale Other Investments And Debt Securities Amortized Cost Basis	123,724	7,182
Other Investments and Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	1	1
Other Investments and Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(386)	(1)
Other Investments and Debt Securities, Available-for-sale	123,339	7,182
US Treasury Securities [Member]
Net Investment Income [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	10,428
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(42)
Debt Securities, Available-for-sale	10,386
U.S. government agency securities [Member]
Net Investment Income [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	23,908
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(127)
Debt Securities, Available-for-sale	23,781
Corporate Debt Securities [Member]
Net Investment Income [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	89,388	7,182
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	1	1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(217)	(1)
Debt Securities, Available-for-sale	$ 89,172	$ 7,182

INVESTMENTS - Summarizes the Am

INVESTMENTS - Summarizes the Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Amortized Cost, Maturing in one year or less	$ 97,800	$ 7,182
Amortized cost, Maturing after one year but less than three years	25,924
Debt Securities, Available-for-sale, Amortized Cost	123,724	7,182
Fair Value, Maturing in one year or less	97,574	7,182
Fair Value, Maturing after one year but less than three years	25,765
Debt Securities, Available-for-sale, Fair Value	$ 123,339	$ 7,182

MARKETABLE SECURITIES (Details

MARKETABLE SECURITIES (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Debt Securities, Available-for-sale	$ 123,339	$ 7,182

FAIR VALUE OF FINANCIAL ASSET_3

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES - SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON RECURRING BASIS (Details) - Fair Value, Recurring [Member] - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value	$ 142,523,000	$ 16,877,000
Liabilities, Fair Value		39,000
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value	13,257,000	7,833,000
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value	5,927,000	1,862,000
Marketable Securities, Fair Value	89,172,000	7,182,000
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	10,386,000
U.S. government agency securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	23,781,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value	13,257,000	7,833,000
Liabilities, Fair Value		0
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value	13,257,000	7,833,000
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value	0	0
Marketable Securities, Fair Value	0	0
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0
Fair Value, Inputs, Level 1 [Member] | U.S. government agency securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value	129,266,000	9,044,000
Liabilities, Fair Value		0
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value	0	0
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value	5,927,000	1,862,000
Marketable Securities, Fair Value	89,172,000	7,182,000
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	10,386,000
Fair Value, Inputs, Level 2 [Member] | U.S. government agency securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	23,781,000
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value	0	0
Liabilities, Fair Value		39,000
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value	0	0
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value	0	0
Marketable Securities, Fair Value	0	$ 0
Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0
Fair Value, Inputs, Level 3 [Member] | U.S. government agency securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	$ 0

LICENSE AGREEMENTS (Details Nar

LICENSE AGREEMENTS (Details Narrative) - USD ($)					3 Months Ended			6 Months Ended
	Feb. 12, 2023	Nov. 17, 2022	May 26, 2021	Sep. 20, 2018	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Sales Milestone Payment					$ 0	$ 0		$ 0	$ 9,100,000
Other Liabilities, Noncurrent					0			0		$ 44,000
Jenrin Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront cash payment				$ 300,000
Jenrin Agreement [Member] | Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential milestone payments				$ 18,400,000
UCSF Lincense Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License issuance fee		$ 800,000	$ 1,500,000
Installment of license issuance fee		$ 400,000
Accrued pre-clinical cost								1,600,000
Additional payment of indication milestone			50,000
UCSF Lincense Agreement [Member] | Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential milestone payments			$ 153,200,000
Cspc License Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront cash payment	$ 7,500,000
Other Liabilities, Noncurrent					2,500,000			2,500,000
Accrued license costs					$ 4,100,000			$ 4,100,000
Cspc License Agreement [Member] | Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential milestone payments	555,000,000
Installment of license issuance fee							$ 5,000,000
Cspc License Agreement [Member] | Minimum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential milestone payments	130,000,000
Installment of license issuance fee	$ 2,500,000

PROPERTY AND EQUIPMENT - SUMMAR

PROPERTY AND EQUIPMENT - SUMMARY OF PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,529	$ 4,529
Less: accumulated depreciation	(3,858)	(3,556)
Property an equipment, net	671	973
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	84	84
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,114	1,114
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,331	$ 3,331

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 0.2	$ 0.2	$ 0.3	$ 0.3
Impairment charges	$ 0	$ 0	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 878
2025	1,795
2026	1,688
Total lease payments	4,361
Less: imputed interest	(386)
Total	$ 3,975

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Aug. 26, 2021 ft²
Commitments and Contingencies Disclosure [Abstract]
Sublease Area					12,112
Sublease Area Total					30,023
Sublease Agreement Description			Effective August 26, 2021, the Company entered into a sublease agreement with a third party to sublease 12,112 square feet of the 30,023 square feet currently being leased under one of its two existing lease agreements. The sublease commenced on October 1, 2021 and was scheduled to end on October 31, 2026, however, it was terminated on June 24, 2024. The Company notes sublease income of $0 and $0.1 million for the three months ended June 30, 2024 and 2023, respectively and $0.2 million and $0.1 million for the six months ended June 30, 2024 and 2023, respectively was recognized and offset against rent expense.
Subleases Income | $	$ 0	$ 0.1	$ 0.2	$ 0.1

NOTES PAYABLE - SCHEDULE OF NOT

NOTES PAYABLE - SCHEDULE OF NOTES PAYABLE (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Principal	$ 10,820	$ 16,304
Less: debt discount	(2,954)	(2,954)
Accretion of Debt Discount	2,878	2,558
Net Carrying amount	$ 10,744	$ 15,908

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)						1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 01, 2024	Jul. 01, 2024	Mar. 06, 2024	Jun. 01, 2023	Jul. 28, 2020	Nov. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Debt Instrument, Unamortized Discount							$ 2,954,000		$ 2,954,000		$ 2,954,000
Interest Expense, Debt							600,000	$ 1,000,000	1,500,000	$ 1,900,000
Debt Instrument, Face Amount							10,820,000		10,820,000		16,304,000
Lenders [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Debt Instrument, Unamortized Discount							3,000,000		3,000,000
Share-Based Payment Arrangement, Tranche One [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Debt Instrument, Face Amount					$ 20,000,000
Insurance Policy [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Prepaid expenses							$ 100,000		$ 100,000		$ 300,000
Loan Agreement [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Notes payable						$ 400,000
Monthly principal and interest payments						$ 39,000
Monthly loan payments term						10-month period
Annual interest rate						8.15%
Loan Agreement [Member] | K2 HealthVentures LLC [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Annual interest rate							13.75%		13.75%
Debt conversion amount			$ 1,100,000	$ 900,000					$ 5,000,000
Debt conversion per share			$ 7.875	$ 4.5
Warrants to purchase shares of common stock, exercised			142,857	194,444	2,873
Warrant exercisable price per share					$ 208.8
Final payment					$ 1,600,000
Loan Agreement [Member] | K2 HealthVentures LLC [Member] | Share-Based Payment Arrangement, Tranche One [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Secured debt					$ 20,000,000
Loan Agreement [Member] | Debt 1a [Member] | K2 HealthVentures LLC [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Debt conversion amount									3,000,000
Loan Agreement [Member] | Debt 1a [Member] | K2 HealthVentures LLC [Member] | Minimum [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Debt conversion amount									$ 900,000
Debt conversion per share							$ 4.5		$ 4.5
Loan Agreement [Member] | Debt 1b [Member] | K2 HealthVentures LLC [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Debt conversion amount									$ 1,100,000
Debt conversion per share							7.875		$ 7.875
Loan Agreement [Member] | Debt 2 [Member] | K2 HealthVentures LLC [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Debt conversion amount									$ 3,000,000
Debt conversion per share							$ 282		$ 282
Amended loan agreement [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Debt Instrument Outstanding principal Amount							$ 10,800,000		$ 10,800,000
Debt Instrument, Face Amount							$ 12,400,000		12,400,000
Debt Instrument, Periodic Payment, Principal									$ 1,600,000
Amended loan agreement [Member] | K2 HealthVentures LLC [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Debt description					The Company entered into an Amendment to the Loan and Security Agreement (the "Amended Loan and Security Agreement") on October 25, 2022. Interest payments are made monthly and accrue at a variable annual rate equal to the greater of (i) 8.5% and (ii) the rate of interest noted in The Wall Street Journal, Money Rates section, as the “Prime Rate” plus 5.25%, in each case, subject to a step-down of 25 basis points upon the funding of the second tranche.
Amended loan agreement [Member] | Subsequent Event [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Loan Maturity Final Amount	$ 11,800,000
Debt Instrument Outstanding principal Amount	10,100,000
Debt Instrument, Periodic Payment, Interest	$ 1,600,000
Debt Instrument, Issued, Principal		$ 700,000

ACCRUED EXPENSES - SCHEDULE OF

ACCRUED EXPENSES - SCHEDULE OF ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued pre-clinical and clinical costs	$ 1,174	$ 1,449
Accrued product development costs	737	745
Accrued license costs	4,125	4,825
Accrued compensation	2,297	2,326
Accrued administrative costs	625	343
Accrued interest	1,530	1,342
Total	$ 10,488	$ 11,030

ACCRUED EXPENSES (Additional In

ACCRUED EXPENSES (Additional Information) (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Payables and Accruals [Abstract]
Other Accrued Liabilities	$ 0	$ 0

DEVELOPMENT AWARDS (Details Nar

DEVELOPMENT AWARDS (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Entity Listings [Line Items]
Loans Payable	$ 10,744	$ 15,908

PREFERRED STOCK (Additional Inf

PREFERRED STOCK (Additional Information) (Details) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Outstanding	0	0
Preferred Stock, Shares Issued	0	0

NET LOSS PER COMMON SHARE (Deta

NET LOSS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Net Income (Loss)	$ (9,997)	$ (8,784)	$ (16,896)	$ (26,529)
Weighted Average Number of Shares Outstanding, Basic	11,053,241	4,277,701	9,681,875	4,229,894
Net loss per share of common stock-basic	$ (0.9)	$ (2.05)	$ (1.75)	$ (6.27)

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		6 Months Ended
	Feb. 02, 2024	Jan. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	May 31, 2023
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Common stock, shares authorized			300,000,000		300,000,000		300,000,000
Preferred Stock, Shares Authorized			10,000,000		10,000,000		10,000,000
Preferred Stock, Par or Stated Value Per Share			$ 0.0001		$ 0.0001		$ 0.0001
Preferred Stock, Shares Issued			0		0		0
Preferred Stock, Shares Outstanding			0		0		0
Common stock, par value			$ 0.0001		$ 0.0001		$ 0.0001
Common stock, shares issued			11,498,917		11,498,917		4,423,683
Common stock, shares outstanding			11,498,917		11,498,917		4,423,683
Gross proceeds from sale of stock					$ 146,130	$ 207
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					134,076
Restricted Common Stock [Member] | 2014 Plan
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Common stock issued			436	0	3,764	0
Warrant [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised			0	0	0	0
Equity Option [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			109,845	0	134,076	43,836
Proceeds from Stock Options Exercised			$ 1,700	$ 0	$ 1,900	$ 100
Jefferies LLC [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Common stock, par value		$ 0.0001
additional shares of common stock		648,750
Aggregate common stock sold, shares		4,325,000
Purchase price per share		$ 19
Gross proceeds from sale of stock	$ 94,500
Net Poceeds after deducting Underwriting Discounts and Commissions	$ 88,600
May 2023 Sale Agreement [Member] | Jefferies LLC [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Sale of common stock offering price								$ 150,000
K2HV Amended Loan and Security Agreement [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Common stock issued			0	194,444	142,857	194,444
Open Market Sale Agreement [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			881,399	13,164	1,820,787	13,164
Proceeds from Stock Options Exercised			$ 35,600	$ 100	$ 55,800	$ 100
Proceeds from Issuance or Sale					$ 113,200

STOCK BASED COMPENSATION AWARDS

STOCK BASED COMPENSATION AWARDS - SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 1,288	$ 823	$ 2,270	$ 1,850
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	268	96	404	190
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	1,020	727	1,866	1,660
Stock options [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	892	819	1,722	1,843
Restricted Stock Units RSU [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 396	$ 4	$ 548	$ 7

STOCK BASED COMPENSATION AWAR_2

STOCK BASED COMPENSATION AWARDS - SUMMARY OF FAIR VALUE OF OPTIONS GRANTED (Details) - Employee Stock Option	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Option Indexed to Issuer's Equity [Line Items]
Risk free interest rate	4.25%	3.81%
Expected dividend yield	0%	0%
Expected term in years (employee options)	6 years 2 months 8 days	6 years 3 months
Expected volatility	124.31%	101.33%

STOCK BASED COMPENSATION AWAR_3

STOCK BASED COMPENSATION AWARDS - SUMMARY OF OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Shares, Outstanding, Beginning balance	708,762
Number of Shares Granted	236,850
Shares, Exercised	(134,076)
Shares,Forfeited or canceled	(54,879)
Shares, Expired	(18,678)
Shares, Outstanding, Ending balance	737,979
Shares, Exercisable	370,025
Weighted Average Exercise Price, Outstanding, Beginning balance	$ 63.96
Weighted Average Exercise Price, Granted	27.22
Weighted Average Exercise Price, Exercised	14.48
Weighted Average Exercise Price, Forfeited or canceled	9.29
Weighted Average Exercise Price , Expired	70.73
Weighted Average Exercise Price, Outstanding, Ending balance	65.05
Weighted Average Exercise Price, Exercisable	$ 106.89
Weighted Average Remaining Contractual Term in Years, Outstanding	7 years 3 months 7 days
Weighted Average Remaining Contractual Term in Years, Exercisable	5 years 5 months 4 days
Average Intrinsic Value, Outstanding	$ 12,172
Average Intrinsic Value, Exercisable	$ 3,458

STOCK BASED COMPENSATION AWAR_4

STOCK BASED COMPENSATION AWARDS - SCHEDULE OF RESTRICTED STOCK UNITS (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares Granted	236,850
Non-vested stock options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares Unvested at December 31, 2023	17,911
Number of Shares Granted	236,854
Number of Shares Forfeited	(2,193)
Number of Shares Vested	(3,764)
Number of Shares Unvested as June 30 2024	248,808
Weighted Average Grant Date Fair Value Unvested at December 31, 2023 | $ / shares	$ 5.14
Weighte Average Grant Date Fair Value Options Granted | $ / shares	26.85
Weighte Average Grant Date Fair Value Options Forfeited | $ / shares	17.15
Weighte Average Grant Date Fair Value Options Vested | $ / shares	4.89
Weighte Average Grant Date Fair Value Options Unvested at June 30 2024 | $ / shares	$ 25.71

STOCK BASED COMPENSATION AWAR_5

STOCK BASED COMPENSATION AWARDS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	May 16, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issuance of common stock upon exercise of stock options, shares			134,076
Outstanding stock options	11,498,917		11,498,917			4,423,683
Stock-based compensation expense			$ 2,270	$ 1,850
Total fair value of options vested	$ 12,172		12,172
Total unrecognized compensation expense	$ 5,900		$ 5,900
Share-based compensation expense, recognized over a weighted average			2 years 1 month 13 days
Number of Shares Granted			236,850
Equity Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issuance of common stock upon exercise of stock options, shares	109,845	0	134,076	43,836
Weighte Average Grant Date Fair Value Options Granted			$ 24.3	$ 4.2
Average intrinsic value of options exercised			$ 4,100	$ 100
Total unrecognized compensation expense	$ 6,700		$ 6,700
Share-based compensation expense, recognized over a weighted average			1 year 6 months 10 days
Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issuance of common stock upon exercise of stock options, shares	109,845		134,076	43,836
Common stock issued	881,399	13,164	6,794,537	13,164
2014 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares reserved for issuance					2,000,000
2014 Equity Incentive Plan [Member] | Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares Vested			913,325
Issuance of common stock upon exercise of stock options, shares			913,325
Number of Shares Granted			0
2024 Equity Compensation Plan And 2014 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of outstanding common shares			25%
2024 Equity Compensation Plan [Member] | Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Shares Vested			73,462
Issuance of common stock upon exercise of stock options, shares			73,462
Number of Shares Granted			1,926,538

WARRANTS (Details Narrative)

WARRANTS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		6 Months Ended
	Mar. 06, 2024	Jun. 01, 2023	Jul. 28, 2020	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Oct. 16, 2020	Jan. 26, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number				370,025		370,025
Debt face amount				$ 10,820		$ 10,820		$ 16,304
Share-based Payment Arrangement, Tranche One [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt face amount			$ 20,000
CFF Warrant [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Warrants outstanding to purchase of common stock shares										33,334
Exercise price of warrants										$ 396
Investment Agreement [Member] | CFF Warrant [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Warrants outstanding to purchase of common stock shares				50,207		50,207
Exercise price of warrants				$ 283.81		$ 283.81
Weighted average remaining life of warrants						1 year 1 month 9 days
Warrant expire date				Jan. 26, 2025		Jan. 26, 2025
Loan Agreement [Member] | K2 HealthVentures LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Warrants to purchase shares of common stock, exercised	142,857	194,444	2,873
Exercise price of warrants			$ 208.8
Loan Agreement [Member] | K2 Warrant [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Warrants to purchase shares of common stock, exercised			2,873
Warrants outstanding to purchase of common stock shares			2,873
Exercise price of warrants			$ 208.8
Warrant expire date			Jul. 28, 2030
Professional Services Agreement [Member] | Warrants [Member] | Investor Relations Service Provider [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Warrants outstanding to purchase of common stock shares									14,000
Exercise price of warrants									$ 32.1
Warrant expire date									Nov. 03, 2025
Warrant [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Warrants to purchase shares of common stock, exercised				0	0	0	0

SCHEDULE OF FAIR VALUE OF DERIV

SCHEDULE OF FAIR VALUE OF DERIVATIVE LIABILITY (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Beginning balance, December 31, 2023			$ 39
Change in fair value of derivative liabilities	$ (11)	$ 0	(39)	$ 0
Ending balance, June 30, 2024	$ 0		$ 0

DERIVATIVE LIABILITY (Details N

DERIVATIVE LIABILITY (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jul. 28, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Derivative liability	$ 0		$ 0		$ 39,000
Gain (Loss) on Sale of Derivatives	11,000	$ 0	$ 39,000	$ 0
Probability of decreased repayment of loan			0%		55%
Loan Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Probability of decreased repayment of loan			0%		10%
Loan Agreement [Member] | K2 HealthVentures LLC [Member] | Share-based Payment Arrangement, Tranche One [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Secured debt						$ 20,000,000
Derivative Liability Level 3 [Member] | K2 HealthVentures LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Derivative liability	$ 0		$ 0
Gain (Loss) on Sale of Derivatives			$ 39,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Aug. 01, 2024	Jun. 30, 2024	Jun. 30, 2023
Subsequent Event [Line Items]
Proceeds from issuance of common stock, net		$ 146,130	$ 207
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock issued	544,295
Proceeds from issuance of common stock, net	$ 28,800
Subsequent Event [Member] | Loan And Security Agreement With K2 Health Ventures Llc [Member]
Subsequent Event [Line Items]
Repayments of Long-Term Debt	11,800
Principal outstanding on the maturity date	10,100
Final payment and accrued interest.	$ 1,600
Long-Term Debt, Maturities, Repayment Terms	August 1, 2024