Celcuity (CELC) 10-K 27 Mar 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 20, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-38207
Entity Registrant Name	Celcuity Inc.
Entity Central Index Key	0001603454
Entity Tax Identification Number	82-2863566
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	16305 36th
Entity Address, Address Line Two	Avenue North
Entity Address, Address Line Three	Suite 100
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55446
City Area Code	(763)
Local Phone Number	392-0767
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	CELC
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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 Public Float			$ 191,274,949
Entity Common Stock, Shares Outstanding		30,453,120
Documents Incorporated by Reference [Text Block]	Portions of the registrant’s definitive proxy statement relating to its 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K.
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Name	Boulay LLP
Auditor Location	Minneapolis, Minnesota
Auditor Firm ID	542

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 30,662,774	$ 24,571,557
Investments	149,919,974	144,015,954
Other current assets	10,007,849	6,603,026
Total current assets	190,590,597	175,190,537
Property and equipment, net	228,782	260,294
Operating lease right-of-use assets	400,019	246,266
Total Assets	191,219,398	175,697,097
Current Liabilities:
Accounts payable	5,076,699	2,627,076
Finance lease liabilities		2,449
Operating lease liabilities	184,950	191,749
Accrued expenses	8,927,094	4,060,280
Total current liabilities	14,188,743	6,881,554
Operating lease liabilities	225,922	61,002
Note payable, non-current	37,035,411	34,983,074
Total Liabilities	51,450,076	41,925,630
Commitments and Contingencies (Note 9)
Stockholders’ Equity:
Preferred stock, $0.001 par value: 2,500,000 shares authorized; 854,134 and 1,120,873 shares issued and outstanding as of December 31, 2023 and 2022, respectively	854	1,121
Common stock, $0.001 par value: 65,000,000 shares authorized as of December 31, 2023 and 2022, respectively; 25,506,012 and 21,667,250 shares issued and outstanding as of December 31, 2023 and 2022, respectively	25,506	21,667
Additional paid-in capital	299,818,965	230,045,566
Accumulated deficit	(160,076,003)	(96,296,887)
Total Stockholders’ Equity	139,769,322	133,771,467
Total Liabilities and Stockholders’ Equity	$ 191,219,398	$ 175,697,097

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	2,500,000	2,500,000
Preferred stock, shares issued	854,134	1,120,873
Preferred stock, shares outstanding	854,134	1,120,873
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	65,000,000	65,000,000
Common stock, shares issued	25,506,012	21,667,250
Common stock, shares outstanding	25,506,012	21,667,250

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating expenses:
Research and development	$ 60,594,005	$ 35,289,548
General and administrative	5,636,326	4,101,543
Total operating expenses	66,230,331	39,391,091
Loss from operations	(66,230,331)	(39,391,091)
Other income (expense)
Interest expense	(5,326,387)	(2,106,111)
Interest income	7,777,602	1,127,162
Other income (expense), net	2,451,215	(978,949)
Net loss before income taxes	(63,779,116)	(40,370,040)
Income tax benefits
Net loss	$ (63,779,116)	$ (40,370,040)
Net loss per share, basic	$ (2.69)	$ (2.64)
Net loss per share, diluted	$ (2.69)	$ (2.64)
Weighted average common shares outstanding, basic	23,679,472	15,418,543
Weighted average common shares outstanding, diluted	23,679,472	15,418,543

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity - USD ($)	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2021	$ 14,919		$ 124,622,405	$ (55,926,847)	$ 68,710,477
Balance, shares at Dec. 31, 2021	14,918,887
Stock-based compensation	$ 2		4,638,203		4,638,205
Stock-based compensation, shares	3,523
Employee stock purchases	$ 33		171,677		171,710
Employee stock purchases, shares	32,669
Exercise of common stock options, net of shares withheld for exercise price	$ 30		152,382		152,412
Exercise of common stock options, net of shares withheld for exercise price, shares	29,597
Issuance of common and preferred stock upon closing of private placement offering	$ 6,183	$ 1,121	99,992,696		100,000,000
Issuance of common and preferred stock upon closing of private placement offering, shares	6,182,574	1,120,873
Issuance costs associated with private placement offering			(4,316,534)		(4,316,534)
Issuance of common stock in an ATM offering	$ 500		5,174,500		5,175,000
Issuance of common stock in an ATM offering, shares	500,000
Issuance costs associated with an ATM offering			(389,763)		(389,763)
Net loss				(40,370,040)	(40,370,040)
Balance at Dec. 31, 2022	$ 21,667	$ 1,121	230,045,566	(96,296,887)	133,771,467
Balance, shares at Dec. 31, 2022	21,667,250	1,120,873
Stock-based compensation	$ 2		4,901,432		4,901,434
Stock-based compensation, shares	1,958
Employee stock purchases	$ 33		202,812		202,845
Employee stock purchases, shares	33,850
Exercise of common stock options, net of shares withheld for exercise price	$ 99		388,423		388,522
Exercise of common stock options, net of shares withheld for exercise price, shares	98,695
Issuance costs associated with private placement offering			(7,486)		(7,486)
Issuance of common stock in an ATM offering	$ 1,035		14,999,216		15,000,251
Issuance of common stock in an ATM offering, shares	1,034,500
Issuance costs associated with an ATM offering			(614,205)		(614,205)
Net loss				(63,779,116)	(63,779,116)
Conversion of preferred to common stock	$ 2,668	$ (267)	(2,401)
Conversion of preferred to common stock, shares	2,667,390	(266,739)
Exercise of common stock warrants	$ 2		22,503		22,505
Exercise of common stock warrants, shares	2,369
Issuance of pre-funded warrants			50,000,000		50,000,000
Issuance costs associated with pre-funded warrants			(116,895)		(116,895)
Balance at Dec. 31, 2023	$ 25,506	$ 854	$ 299,818,965	$ (160,076,003)	$ 139,769,322
Balance, shares at Dec. 31, 2023	25,506,012	854,134

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (63,779,116)	$ (40,370,040)
Adjustments to reconcile net loss to net cash used for operations:
Depreciation	142,772	210,918
Stock-based compensation	4,901,434	4,638,205
Amortization of debt issuance costs and discount	241,752	395,757
PIK interest	1,810,584	455,074
Non-cash operating lease, net	4,368	(3,243)
Change in accrued interest income	(993,457)	(142,928)
Changes in operating assets and liabilities:
Other current assets	(3,438,018)	(5,526,381)
Accounts payable	2,430,614	1,077,080
Accrued expenses	4,866,814	3,257,387
Net cash used for operating activities	(53,812,253)	(36,008,171)
Cash flows from investing activities:
Proceeds from maturities of investments	309,614,521
Purchases of investments	(314,525,084)	(143,873,026)
Purchases of property and equipment	(97,644)	(158,768)
Net cash used for investing activities	(5,008,207)	(144,031,794)
Cash flows from financing activities:
Proceeds from exercise of common stock warrants	22,505
Proceeds from exercise of employee stock options	388,522	152,412
Proceeds from employee stock purchases	202,845	171,710
Proceeds from a private placement offering, net of discounts and offering costs		95,721,786
Proceeds from note payable, net of debt issuance and discount costs		19,509,037
Proceeds from an ATM offering, net of commission fees and offering costs	14,431,186	4,776,046
Proceeds from pre-funded warrants, net of offering costs	49,917,589
Payments for secondary registration statement costs	(45,805)
Payments for debt issuance costs	(2,716)
Payments for finance leases	(2,449)	(5,850)
Net cash provided by financing activities	64,911,677	120,325,141
Net change in cash and cash equivalents	6,091,217	(59,714,824)
Cash and cash equivalents:
Beginning of period	24,571,557	84,286,381
End of period	30,662,774	24,571,557
Supplemental disclosure of cash flow information:
Interest paid	3,274,051	1,255,280
Supplemental disclosures of non-cash investing and financing activities:
Deferred financing costs and offering and registration statement costs included in accounts payable	56,414	51,020
Property and equipment included in accounts payable	$ 13,615

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure [Table]
Net Income (Loss) Attributable to Parent	$ (63,779,116)	$ (40,370,040)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Insider Trading Arrangements [Line Items]
Rule 10b51 Arrangement Adopted	false
Non-Rule 10b51 Arrangement Adopted	false
Rule 10b51 Arrangement Terminated	false
Non-Rule 10b51 Arrangement Terminated	false

Organization

Organization	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization Nature of Business Celcuity Inc., a Delaware corporation (the “Company”), is a clinical-stage biotechnology company pursuing development for oncology. The Company’s lead therapeutic candidate is gedatolisib, a potent pan-PI3K and mTOR inhibitor. Its mechanism of action and pharmacokinetic properties are highly differentiated from other currently approved and investigational therapies that target PI3K or mTOR alone or together. A Phase 3 clinical trial, VIKTORIA-1, evaluating gedatolisib in combination with fulvestrant with or without palbociclib in patients with HR+/HER2- advanced breast cancer is currently enrolling patients. A Phase 1b/2 clinical trial, CELC-G-201, evaluating gedatolisib in combination with darolutamide in patients with metastatic castration resistant prostate cancer, was initiated in the first quarter of 2024 and is currently enrolling patients. The Company’s CELsignia companion diagnostic platform is uniquely able to analyze live patient tumor cells to identify new groups of cancer patients likely to benefit from already approved targeted therapies. The Company was co-founded in 2012 by Brian F. Sullivan and Dr. Lance G. Laing and is based in Minnesota. The Company has not generated any revenues to date.

Basis of Presentation, Summary

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements	2. Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Operating results for the year ended December 31, 2023 are not necessarily indicative of results to be expected for any future year. Accounting Estimates Management uses estimates and assumptions in preparing these financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates and the difference could be significant. Significant items subject to such estimates and assumptions include the valuation of stock-based compensation and prepaid or accrued clinical trial costs. Cash and Cash Equivalents The Company maintains its accounts at two financial institutions. At times throughout the year, the Company’s cash balances may exceed amounts insured by the Federal Deposit Insurance Corporation. At December 31, 2023 and December 31, 2022, the Company had $ 30,662,774 24,571,557 Investments The Company maintains its investments in U.S. governmental agency securities and U.S. treasury bills and has classified them as held-to-maturity at the time of purchase. Held-to-maturity purchases are those securities in which the Company has the ability and intent to hold until maturity. Held-to-maturity securities are recorded at amortized cost, adjusted for the amortization or accretion of premiums and discounts. Premiums and discounts are amortized or accreted over the life of the related held-to-maturity security using a straight-line method. The difference between the carrying value, which is based on cost, and the aggregate fair value of the held-to-maturity securities, was immaterial as of December 31, 2023. At December 31, 2023 and December 31, 2022, the Company had $ 149,919,974 144,015,954 Property and Equipment Property and equipment are stated at cost. Depreciation is provided over estimated useful lives using the straight-line method. Maintenance and repairs are expensed as incurred; major improvements and betterments are capitalized. Estimated useful lives of property and equipment are as follows for the major classes of assets: Schedule of Estimated Useful Lives of Property and Equipment Asset Description Estimated Lives Furniture and Equipment 4 5 Leasehold Improvements 2 3 Long-Lived Assets Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. Deferred Transaction Costs Deferred transaction costs in 2022 primarily consist of legal fees that are capitalized as incurred and will be offset against the proceeds from future ATM offerings. The deferred transaction costs will be reviewed periodically to assess the probability that future securities will be offered. In the event that no future offering will occur, any deferred transaction costs will be expensed. Total costs incurred, but not accounted for as a reduction in equity, were $ 0 33,195 Comprehensive Loss Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders. For all periods presented, there was no difference between net loss and comprehensive loss. Risks and Uncertainties The Company is subject to risks common to companies in the development stage including, but not limited to, dependency on the clinical and commercial success of its initial drug product, gedatolisib, the clinical and commercial success of its diagnostic tests, ability to obtain regulatory approval for gedatolisib and its diagnostic tests, the need for substantial additional financing to achieve its goals, uncertainty of broad adoption of its approved products, if any, by physicians and consumers, and significant competition. Fair Value of Financial Instruments The Company’s accounting for fair value measurements of assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring or nonrecurring basis adheres to the Financial Accounting Standards Board (“FASB”) fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: ● Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the Company at the measurement date. ● Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. ● Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The level in the fair value hierarchy within which a fair value measurement in its entirety falls, is based on the lowest level input that is significant to the fair value measurement in its entirety. The carrying values of cash equivalents, accounts payable, accrued expenses and other financial working capital items approximate fair value at December 31, 2023 and December 31, 2022, due to the short maturity nature of these items. Income Taxes The Company accounts for income taxes using the asset and liability method, as required by the accounting standard for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss and tax credit carryforwards. Deferred taxes are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in results of operations in the period that includes the enactment date. The effects of any future changes in tax laws or rates have not been considered. The Company regularly reviews deferred tax assets to assess their potential realization and establish a valuation allowance for portions of such assets to reduce the carrying value if the Company does not consider it to be more likely than not that the deferred tax assets will be realized. The Company recognizes the impact of an uncertain tax position in its financial statements if, in management’s judgment, the position is more-likely-than-not sustainable upon audit based on the position’s technical merits. This involves the identification of potential uncertain tax positions, the evaluation of applicable tax laws and an assessment of whether a liability for an uncertain tax position is necessary. Stock-Based Compensation The Company’s stock-based compensation consists of stock options and restricted stock issued to certain employees and nonemployees of the Company and the Company’s 2017 Employee Stock Purchase Plan. The Company recognizes compensation expense based on an estimated grant date fair value using the Black-Scholes option-pricing method. If the factors change and different assumptions are used, the Company’s stock-based compensation expense could be materially different in the future. The Company recognizes stock-based compensation expense for these options on a straight-line basis over the requisite service period. The Company has elected to account for forfeitures as they occur. Research and Development Research and development costs are expensed as incurred. Research and development costs amounted to $ 60,594,005 35,289,548 Clinical Trial Costs The Company records prepaid assets or accrued expenses for prepaid or estimated clinical trial costs conducted by third-party service providers, which includes the conduct of preclinical studies and clinical trials. These costs can be a significant component of the Company’s research and development expenses. The Company primarily relies on a compilation of progress reports from third-party service providers, including the respective invoicing, to record actual expenses, along with determining changes to prepaid assets and accrued liabilities. To date, the Company believes utilization of third-party reports most accurately reflects expenses incurred. As the current VIKTORIA-1 Phase 3 and CELC-G-201 Phase 1b/2 trials ramp up site activation and patient enrollment, the Company’s estimated expenses in future periods and actual services performed may vary from these estimates, and these estimates may become more significant. Changes in these estimates that result in material changes to the Company’s prepaid assets or accrued expenses could materially affect the Company’s results of operations. Segment Data The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions.

Liquidity

Liquidity	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity	3. Liquidity Based on the Company’s cash and cash equivalents and short-term investments on hand at December 31, 2023 of $ 30,662,774 149,919,974

Net Loss Per Common Share

Net Loss Per Common Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Loss Per Common Share	4. Net Loss Per Common Share Basic and diluted net loss per common share is determined by dividing net loss attributable to common stockholders by the weighted-average common shares outstanding during the period. For all periods presented, the common shares underlying the preferred stock, options, warrants, and restricted stock have been excluded from the calculation because their effect would be anti-dilutive. Therefore, the weighted-average shares outstanding used to calculate both basic and diluted loss per common share are the same. The following table summarizes the potentially-dilutive shares excluded from the diluted weighted-average shares outstanding: Schedule of Potentially-Dilutive Shares Excluded from the Diluted Weighted-Average Shares Outstanding 2023 2022 December 31, 2023 2022 Potentially-dilutive shares excluded from diluted weighted-average shares outstanding: Preferred stock on an as-if-converted to common stock 8,541,340 11,208,730 Options to purchase common stock 2,815,392 1,976,586 Warrants to purchase common stock 7,263,733 7,266,102 Restricted common stock 1,958 3,273 Total 18,622,423 20,454,691 Pre-funded warrant shares of 5,747,787 In accordance with ASU 2021-04, for purposes of calculating basic and diluted net loss per share for the year ended December 31, 2022, the reported net loss was increased by approximately $ 272,000 0.02

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments, All Other Investments [Abstract]
Investments	5. Investments The following table summarizes the Company’s held-to-maturity investment securities at amortized cost as of December 31, 2023 and 2022: Schedule of Investment Amortized Cost, as Adjusted Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value December 31, 2023 Amortized Cost, as Adjusted Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value U.S. Treasury Bills $ 149,919,974 $ 30,995 $ - $ 149,950,969 Total $ 149,919,974 $ 30,995 $ - $ 149,950,969 Amortized Cost, as Adjusted Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value December 31, 2022 Amortized Cost, as Adjusted Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Governmental Agency Securities $ 46,230,893 $ 29,517 $ - $ 46,260,410 U.S. Treasury Notes 97,785,061 41,639 - 97,826,700 Total $ 144,015,954 $ 71,156 $ - $ 144,087,110 The fair value of the Company’s held-to-maturity debt securities are determined based upon inputs, other than the quoted prices in active markets, that are observable either directly or indirectly, and are classified as level 2 fair value instruments.

Other Current Assets

Other Current Assets	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	6. Other Current Assets Other current assets consisted of the following at December 31: Schedule of Other Current Assets 2023 2022 Current: Prepaid clinical trial $ 8,763,150 $ 5,656,737 Miscellaneous receivable 805,882 - Other 281,364 351,073 Prepaid directors & officers’ insurance 157,453 173,416 Prepaid research & development - 421,800 Total $ 10,007,849 $ 6,603,026

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	7. Property and Equipment Property and equipment consisted of the following at December 31: Summary of Property and Equipment 2023 2022 Furniture and equipment $ 1,788,195 $ 1,676,935 Leasehold improvements 302,577 302,577 Property and equipment, Gross 2,090,772 1,979,512 Less: Accumulated depreciation (1,861,990 ) (1,719,218 ) Total $ 228,782 $ 260,294 Depreciation expense was $ 142,772 210,918

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses	8. Accrued Expenses Accrued expenses consisted of the following at December 31: Schedule of Accrued Expenses 2023 2022 Clinical trial costs $ 6,464,772 $ 2,246,573 Accrued compensation 1,763,316 929,216 Other 641,512 845,524 Employee stock purchase plan 57,494 38,967 Total $ 8,927,094 $ 4,060,280

Commitments

Commitments	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments	9. Commitments Operating and Finance Leases The Company leases its corporate space in Minneapolis, Minnesota, with an operating lease in place through April 30, 2026. The lease provides for monthly rent, real estate taxes, and operating expenses. Rent expense is recorded on a straight-line basis over the lease term. In March 2023, the Company signed the fourth amendment to extend this lease through April 30, 2026. This amendment provides for monthly rent, real estate taxes and operating expenses. The Company recorded an incremental $355,578 in the operating right-of-use (“ROU”) asset and lease liability pertaining to this amendment. In May 2018, the Company entered into a non-cancelable finance lease agreement for office equipment with a five-year term. The underlying assets are included in furniture and equipment. The lease contains a bargain purchase option at the end of the lease. The finance lease expired in May 2023 and the equipment was acquired for the bargain purchase option price. When an implicit rate is not provided, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. Supplemental balance sheet information consisted of the following at December 31, 2023: Schedule of Supplemental Balance Sheet Information Related to Leases Operating Lease Right-of-use assets $ 400,019 Operating lease liability $ 410,872 Less: short term portion (184,950 ) Long term portion $ 225,922 Maturity analysis under lease agreements consisted of the following as of December 31, 2023: Schedule of Maturity Analysis Under Lease Agreements Operating Leases 2024 $ 213,537 2025 220,389 2026 74,170 Total minimum lease payments 508,096 Less: Present value discount (97,224 ) Present value of net minimum lease payments $ 410,872 Weighted Average Remaining Lease Term Discount Rate Operating lease 2.3 10.5 % Lease costs for the period ended December 31: Schedule of Lease Costs 2023 2022 Operating lease cost $ 212,238 $ 197,767 Finance lease cost: Amortization 2,411 5,786 Interest 4 39 Variable lease cost 101,957 81,077 Lease costs $ 316,610 $ 284,669 Supplemental cash flow information related to leases period ended December 31: Schedule of Supplemental Cash Flow Information Related to Leases 2023 2022 Cash paid for amounts included in operating and finance leases: Operating cash outflow from operating leases $ 308,914 $ 282,086 Operating cash outflow from finance leases 4 39 Financing cash outflow from finance leases 2,449 5,850 Total cash paid for amounts included in operating and finance leases $ 311,367 $ 287,975 Clinical Research Studies The Company enters into contracts in the normal course of business to conduct research and development programs internally and through third parties that include, among others, arrangements with vendors, consultants, CMO’s, and CRO’s. The Company currently has three Phase 2 clinical trial agreements in place to evaluate targeted therapies selected with one of our CELsignia tests. Timing of milestone payments related to the Phase 2 clinical trials are uncertain and the contracts generally provide for termination following a certain period after notice, therefore the Company believes that non-cancelable obligations under the agreements are not material. The Company also has a license agreement in place with Pfizer to research, develop, manufacture and commercialize gedatolisib. In conjunction with the license agreement, the Company continued a Phase 1b study – B2151009 related to gedatolisib. These patients subsequently transitioned to an Expanded Access study – CELC-G-001. Contracts related to the Phase 1B study and the Expanded Access study, are generally based on time and material. In addition, contracts related to the Company’s Phase 3 clinical study (VIKTORIA-1) and Phase 1b/2 clinical study (CELC-G-201) are generally cancelable with reasonable notice within 120 days and the Company’s obligations under these contracts are primarily based on services performed through termination dates plus certain cancelation charges, if any, as defined in each of the respective agreements. In addition, these agreements may, from time to time, be subjected to amendments as a result of any change orders executed by the parties. As of December 31, 2023, the Company had two material non-cancelable contractual commitment with respect to these arrangements, which totaled approximately $ 2.1

Stockholders_ Equity

Stockholders’ Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Stockholders’ Equity	10. Stockholders’ Equity Capital Stock At December 31, 2022, the Company’s authorized capital stock consisted of 65,000,000 21,667,250 2,500,000 1,850,000 1,120,873 On May 16, 2022, the Company designated 1,850,000 The Series A Preferred Stock is non-voting, and each share is convertible at the option of the holder, subject to certain limitations, into 10 shares of common stock. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, or in the event of a Deemed Liquidation Event (as defined in the Certificate of Designations of Preferences, Rights and Limitations of Series A Convertible Preferred Stock), the holders of Series A Preferred Stock are entitled to be paid from assets of the Company available for distribution to its stockholders, before any payment is made to the holders of common stock by reason of their ownership thereof, an amount per share equal to the greater of (i) the original issue price ($ 5.75 On March 31, 2023, one of the Company’s preferred shareholders elected to convert 25,000 250,000 5.75 On June 29, 2023, one of the Company’s preferred shareholders elected to convert 10,000 100,000 5.75 On September 21, 2023, one of the Company’s preferred shareholders elected to convert 25,000 250,000 5.75 On October 16, 2023, one of the Company’s preferred shareholders elected to convert 181,739 1,817,390 5.75 On December 12, 2023, one of the Company’s preferred shareholders elected to convert 25,000 250,000 5.75 At December 31, 2023, the Company’s authorized capital stock consisted of 65,000,000 25,506,012 2,500,000 1,850,000 854,134 no Sale and Issuance of Stock On February 4, 2022, the Company entered into an Open Market Sale Agreement SM 50,000,000 3.0 500,000 10.35 5.2 0.4 On December 9, 2022, the Company issued 6,182,574 1,120,873 6,956,450 5.75 40 100 4.3 On December 1, 2023, pursuant to an Open Market Sale Agreement SM 1,034,500 14.50 15 0.6 Pre-Funded Warrants On October 18, 2023, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain investors (the “Investors”) pursuant to which the Company agreed to sell to the Investors in a private placement pre-funded warrants to purchase up to 5,747,787 0.001 8.699 0.001 The closing of the Private Placement occurred on October 20, 2023, and resulted in gross proceeds to the Company of approximately $ 50 0.1 Each Warrant is immediately exercisable and will not expire. Under the terms of the Warrants, the Company may not effect the exercise of any such Warrant, and a holder will not be entitled to exercise any portion of any Warrant, if, upon giving effect to such exercise, the aggregate number of shares of Common Stock beneficially owned by the holder (together with its affiliates, other persons acting or who could be deemed to be acting as a group together with the holder or any of the holder’s affiliates, and any other persons whose beneficial ownership of Common Stock would or could be aggregated with the holder’s or any of the holder’s affiliates for purposes of Section 13(d) or Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) would exceed 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to the exercise, as such percentage ownership is calculated in accordance with Section 13(d) of the Exchange Act and the applicable regulations of the Securities and Exchange Commission (the “Maximum Percentage”). A holder may reset the Maximum Percentage to a higher percentage (not to exceed 19.99%), effective 61 days after written notice to the Company, or a lower percentage, effective immediately upon written notice to the Company. Any such increase or decrease will apply only to that holder and not to any other holder of Warrants. The Securities Purchase Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company, other obligations of the parties and termination provisions. Warrants Schedule of Warrants At December 31, 2023: Issue Date Expiration Date # of Warrants Outstanding Exercise Price Offering 1/21/2016 1/14/2026 33,719 $ 7.56 private placement offering - issued to placement agent 5/2/2016 5/2/2026 21,530 $ 7.56 private placement offering - issued to placement agent 4/28/2017 4/28/2027 33,250 $ 8.42 private placement offering - issued to placement agent 5/17/2017 5/17/2027 15,365 $ 8.42 private placement offering - issued to placement agent 9/22/2017 9/22/2024 107,377 $ 9.50 purchasers of convertible notes 9/22/2017 9/19/2025 70,000 $ 10.45 IPO - issued to underwriter 4/8/2021 4/8/2031 26,042 $ 14.40 debt financing - issued to lender 12/9/2022 see below 6,956,450 $ 8.05 securities purchase agreement - issued to institutional and other accredited investors 10/18/2023 see above 5,747,787 $ 0.001 private placement offering - issued to investors Total Warrants Outstanding 13,011,520 On December 9, 2022, in connection with entering into a securities purchase agreement on May 15, 2022, the Company issued warrants to certain institutional and other accredited investors to purchase 6,956,450 8.05 21.8 On September 13, 2022, the Company entered into a First Amendment to Representative’s Warrant (the “Warrant Amendment”) with Craig-Hallum Capital Group LLC (“Craig-Hallum”), amending the terms of that certain Representative’s Warrant, dated September 22, 2017 (the “Representative’s Warrant”) issued by the Company to Craig-Hallum in connection with the Company’s initial public offering. Under the terms of the Warrant Amendment, (i) the number of shares of the Company’s common stock issuable upon exercise of the Representative’s Warrant was reduced from 138,000 70,000 September 19, 2025 271,988 At December 31, 2023 and 2022, the Company had warrants to purchase 13,011,520 7,266,102 4.53 8.12 2,369 zero

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	11. Stock-Based Compensation 2012 Equity Incentive Plan The 2012 Equity Incentive Plan, as amended, was adopted by the Company’s board and approved by the members of Celcuity LLC on August 10, 2012. The Company reserved a maximum of 625,000 2017 Stock Incentive Plan The 2017 Amended and Restated Stock Incentive Plan (the “2017 Plan”) was adopted by the Company’s board on September 6, 2017, became effective following the corporate conversion on September 15, 2017, and was approved by stockholders at the Company’s annual stockholder meeting on May 10, 2018. The 2017 Plan was amended and approved by stockholders at the Company’s annual stockholder meeting on May 14, 2020. The Company initially reserved a maximum of 750,000 216,673 149,189 500,000 1,000,000 1,500,000 The following table summarizes the activity for all stock options outstanding for the years ended December 31: Schedule of Stock Options Activity 2023 2022 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding at beginning of year 1,976,586 $ 6.34 1,315,321 $ 11.97 Granted 1,003,298 10.69 843,797 7.64 Exercised (98,695 ) 3.94 (29,597 ) 5.15 Forfeited (65,797 ) 7.45 (152,935 ) 9.70 Balance at December 31: 2,815,392 $ 7.95 1,976,586 $ 6.34 Options exercisable at December 31: 1,524,731 $ 6.44 995,629 $ 5.91 Weighted Average Grant Date Fair Value for options granted during the period: $ 7.48 $ 5.22 The following table summarizes additional information about stock options outstanding and exercisable at December 31, 2023: Schedule of Stock Options Outstanding and Exercisable Options Outstanding Options Exercisable Options Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price Aggregate Intrinsic Value Options Exercisable Weighted Average Exercise Price Aggregate Intrinsic Value 2,815,392 7.95 $ 7.95 $ 18,740,216 1,524,731 $ 6.44 $ 12,478,244 The Company recognized stock-based compensation expense for stock options of $ 4,716,475 4,415,415 776,324 5.50 134,000 517,000 163,000 311,000 13.44 65,000 92,000 98,000 203,750 5.10 19,000 38,000 The Black-Scholes option-pricing model was used to estimate the fair value of equity-based awards with the following weighted-average assumptions for the years ended December 31: Schedule of Assumptions for Fair Value of Equity-based Awards 2023 2022 Risk-free interest rate 3.41 4.86 % 1.68 4.22 % Expected volatility 77.1 79.8 % 76.2 79.6 % Expected life (years) 5.25 6.08 5.29 6.25 Expected dividend yield 0 % 0 % The inputs for the Black-Scholes valuation model require management’s significant assumptions. Prior to the Company’s initial public offering, the price per share of common stock was determined by the Company’s board based on recent prices of common stock sold in private offerings. Subsequent to the initial public offering, the price per share of common stock is determined by using the closing market price on the Nasdaq Capital Market on the grant date. The risk-free interest rates are based on the rate for U.S. Treasury securities at the date of grant with maturity dates approximately equal to the expected life at the grant date. The expected life is based on the simplified method in accordance with the SEC Staff Accounting Bulletin Nos. 107 and 110. The expected volatility is estimated based on historical volatility information of peer companies that are publicly available in combination with the Company’s calculated volatility since being publicly traded. All assumptions used to calculate the grant date fair value of non-employee options are generally consistent with the assumptions used for options granted to employees. In the event the Company terminates any of its consulting agreements, the unvested options issued in connection with the agreements would also be cancelled. The Company had 1,958 3,273 3,273 3,214 18,499 41,431 The total remaining shares available for grant under the Company’s 2017 Plan as of December 31, 2023 was 1,019,149 Total unrecognized compensation cost related to stock options and restricted stock is estimated to be recognized at December 31: Schedule of Unrecognized Compensation Cost 2024 $ 4,075,020 2025 2,770,901 2026 1,819,779 2027 906,379 Total estimated compensation cost to be recognized $ 9,572,079 2017 Employee Stock Purchase Plan The Company’s 2017 Employee Stock Purchase Plan (the “ESPP”) was adopted by the Company’s board on September 6, 2017 and approved by stockholders at the Company’s annual stockholder meeting on May 10, 2018. The Company initially reserved a total of 100,000 108,337 74,595 the number of shares equal to 0.5% of the total outstanding number of shares of Company common stock as of the immediately preceding December 31. 266,635 The ESPP provides participating employees with an opportunity to purchase shares of the Company’s common stock at a discount through payroll deductions. The ESPP is available to all employees unless they are employed for less than 20 hours per week or own 5% or more of the total combined voting power or value of the Company’s common stock. The ESPP is administered using overlapping 24 month offering periods, referred to as an Offering Period. Each Offering Period has four six-month purchase periods. A new Offering Period and purchase period begin every six months on May 1 and November 1 of each year. Participating employees may purchase common stock, on a voluntary after tax-basis, at a price equal to 85% of the fair market value of a share of common stock on either the offering date or the purchase date, whichever is lower. If the purchase date has a lower price, the employee will automatically be placed in the Offering Period beginning immediately after the purchase date. The Company recognized stock-based compensation expense related to the ESPP of $ 166,460 181,359 The Company recognized total stock-based compensation expense as follows for the years ended December 31: Schedule of Stock-based Compensation Expense 2023 2022 Years Ended December 31: 2023 2022 Stock-based compensation expense in operating expenses: Research and development $ 2,700,318 $ 2,563,291 General and administrative 2,201,116 2,074,914 Total $ 4,901,434 $ 4,638,205

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	12. Debt On April 8, 2021, the Company entered into a loan and security agreement (the “Loan Agreement”) with Innovatus Life Sciences Lending Fund I, LP, a Delaware limited partnership (“Innovatus”) in its capacity as Collateral Agent and sole Lender. The Lender agreed to loan up to $ 25 15.0 5 5 The Loan Agreement also contains certain events of default, warranties and covenants of the Company. In connection with each funding of the Term Loans, the Company is required to issue Innovatus a warrant (the “Warrants”) to purchase a number of shares of the Company’s stock equal to 2.5% of the principal amount of the relevant Term Loan funded divided by the exercise price, which will be based on the lower of (i) $14.40 per share or (ii) the volume weighted price per share of the Company’s stock for the five-trading day period ending on the last trading day immediately preceding the funding date of the Term B or Term C Loan, as applicable. 26,042 14.40 0.3 In connection with the funding of the first tranche of the Term Loans, a final fee of approximately $ 0.7 0.1 On August 9, 2022, the Company amended the Loan Agreement. Under the amended Loan Agreement, Innovatus, as Lender, has agreed to loan up to $ 75 50 15 20 100 10 20 10 35 15 20 100 1.1 Under the amended Loan Agreement, Innovatus has the right, at its election and until August 9, 2025, the third anniversary of the loan amendment date, to convert into Common Stock up to (1) 20% of the outstanding principal amount of term A loan, and (ii) an additional 7% of the amount by which the aggregate principal amount of the funded term B, C, D, and E loans exceed $35 million, provided that the aggregate outstanding principal amount of all term loans is at least $35 million, which such conversion based upon a price per share equal to $10.00. No additional warrants are required to be issued under the funding of term B, C, D, and E. The Company is entitled to make interest-only payments for forty-eight months, or up to sixty months from the original Loan Agreement date if certain conditions are met. The Term Loans will mature on April 8, 2027, the sixth anniversary of the initial funding date, and will bear interest at a rate equal to the sum of (a) the greater of (i) Prime Rate (as defined in the amended Loan Agreement) or (ii) 3.25%, plus 5.7%. Additionally, the Company elected to make 4.95% of the interest rate as payable in-kind, which shall accrue as principal monthly. The Amended Loan Agreement includes certain other fees, such as a final fee of 4.5% of the funded loan amounts not converted into equity by the lender, which apply if prepayment, an event of default, or change of control occurs prior to August 9, 2025, the third anniversary of the Amendment date. 3.0 The amended Loan Agreement remains secured by all assets of the Company. Proceeds will be used for working capital purposes and to fund the Company’s general business requirements. The amended Loan Agreement contains customary representations and warranties and covenants, subject to customary carve outs, and includes financial covenants related to or based upon liquidity, trailing twelve months revenue and the funded loan amounts. Long-term debt consisted of the following at December 31, 2023 and 2022: Schedule of Long-term Debt 2023 2022 Note payable $ 35,000,000 $ 35,000,000 Add: PIK interest (added to principal) 2,565,660 755,075 Less: unamortized debt issuance costs (480,810 ) (707,001 ) Less: unamortized debt discount (49,439 ) (65,000 ) Total long-term debt $ 37,035,411 $ 34,983,074 Future principal payments are as follows: Schedule of Long Term Debt Future Principal Payments Years Ending December 31, 2025 $ 14,087,122 2026 18,782,830 2027 4,695,708 Total $ 37,565,660

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes Following the conversion of Celcuity LLC to Celcuity Inc. on September 15, 2017, Celcuity Inc. began filing federal and state returns where required. No income tax benefit was recorded for the years 2023 and 2022, due to net losses and recognition of a valuation allowance. The following table presents a reconciliation of the tax expense computed at the statutory federal rate and the Company’s tax expense for the years ending December 31: Schedule of Effective Income Tax Rate Reconciliation 2023 2022 Tax benefit at statutory federal rate $ (13,394,000 ) $ (8,478,000 ) State income tax benefit, net of federal tax effect (82,000 ) (64,000 ) Change in valuation allowance on deferred tax assets 13,542,000 9,543,000 Research & Development Credits (550,000 ) (1,347,000 ) Other permanent items 484,000 346,000 Income tax benefits $ - $ - Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company’s deferred tax assets relate primarily to its net operating loss carryforwards and other balance sheet basis differences. In accordance with ASC 740, “Income Taxes,” the Company recorded a valuation allowance to fully offset the net deferred tax asset, because it is more likely than not that the Company will not realize future benefits associated with these deferred tax assets at December 31, 2023. The tax effects of temporary differences and carryforwards that give rise to significant portions of the deferred tax assets are at December 31: Schedule of Deferred Tax Assets and Liabilities 2023 2022 Deferred tax assets (liabilities): Accrued expenses $ 207,000 $ 103,000 Share-based compensation 2,141,000 1,419,000 Property and equipment 393,000 364,000 Right-of-use assets (85,000 ) (52,000 ) Lease liability 87,000 53,000 IRC 174 Expenditures 13,900,000 3,326,000 Start-up expenditures 11,029,000 10,333,000 Net operating losses and tax credits 8,461,000 7,045,000 Valuation allowance (36,133,000 ) (22,591,000 ) Net deferred tax assets $ - $ - At December 31, 2023, the Company had federal and state net operating loss carryforwards of approximately $ 25.9 0.7 At December 31, 2023, the Company had federal and state research and development tax credit carryforwards resulting in deferred tax assets of approximately $ 2.0 1.3 Under the provisions of Section 382 of the Internal Revenue Code of 1986, certain substantial changes in the Company’s ownership, including a sale of the Company, or significant changes in ownership due to sales of equity, may limit in the future the amount of net operating loss carryforwards available to offset future taxable income. The Company recognizes uncertain tax positions in accordance with ASC 740 on the basis of evaluating whether it is more-likely-than not that the tax positions will be sustained upon examination by tax authorities. For those tax positions that meet the more-likely-than not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement. As of December 31, 2023, and 2022, the Company has no significant uncertain tax positions. There are no unrecognized tax benefits included on the balance sheet that would, if recognized, impact the effective tax rate. The Company does not anticipate there will be a significant change in unrecognized tax benefits within the next 12 months. Prior to the conversion, Celcuity was a limited liability company and therefore was taxed as a partnership for income tax purposes. Accordingly, no benefit for income taxes was recorded prior to the conversion. For years prior to 2020, the Company is no longer subject to U.S. federal or state income tax examinations and remains open for the unutilized tax attributes as of December 31, 2023, carried forward from these years. The Company’s policy is to recognize interest and penalties related to uncertain tax positions as a component of general and administrative expenses.

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Event	14. Subsequent Event In March 2024, an investor exercised 1,739,080 8.05 14

Basis of Presentation, Summar_2

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Operating results for the year ended December 31, 2023 are not necessarily indicative of results to be expected for any future year.
Accounting Estimates	Accounting Estimates Management uses estimates and assumptions in preparing these financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates and the difference could be significant. Significant items subject to such estimates and assumptions include the valuation of stock-based compensation and prepaid or accrued clinical trial costs.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company maintains its accounts at two financial institutions. At times throughout the year, the Company’s cash balances may exceed amounts insured by the Federal Deposit Insurance Corporation. At December 31, 2023 and December 31, 2022, the Company had $ 30,662,774 24,571,557
Investments	Investments The Company maintains its investments in U.S. governmental agency securities and U.S. treasury bills and has classified them as held-to-maturity at the time of purchase. Held-to-maturity purchases are those securities in which the Company has the ability and intent to hold until maturity. Held-to-maturity securities are recorded at amortized cost, adjusted for the amortization or accretion of premiums and discounts. Premiums and discounts are amortized or accreted over the life of the related held-to-maturity security using a straight-line method. The difference between the carrying value, which is based on cost, and the aggregate fair value of the held-to-maturity securities, was immaterial as of December 31, 2023. At December 31, 2023 and December 31, 2022, the Company had $ 149,919,974 144,015,954
Property and Equipment	Property and Equipment Property and equipment are stated at cost. Depreciation is provided over estimated useful lives using the straight-line method. Maintenance and repairs are expensed as incurred; major improvements and betterments are capitalized. Estimated useful lives of property and equipment are as follows for the major classes of assets: Schedule of Estimated Useful Lives of Property and Equipment Asset Description Estimated Lives Furniture and Equipment 4 5 Leasehold Improvements 2 3
Long-Lived Assets	Long-Lived Assets Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary.
Deferred Transaction Costs	Deferred Transaction Costs Deferred transaction costs in 2022 primarily consist of legal fees that are capitalized as incurred and will be offset against the proceeds from future ATM offerings. The deferred transaction costs will be reviewed periodically to assess the probability that future securities will be offered. In the event that no future offering will occur, any deferred transaction costs will be expensed. Total costs incurred, but not accounted for as a reduction in equity, were $ 0 33,195
Comprehensive Loss	Comprehensive Loss Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders. For all periods presented, there was no difference between net loss and comprehensive loss.
Risks and Uncertainties	Risks and Uncertainties The Company is subject to risks common to companies in the development stage including, but not limited to, dependency on the clinical and commercial success of its initial drug product, gedatolisib, the clinical and commercial success of its diagnostic tests, ability to obtain regulatory approval for gedatolisib and its diagnostic tests, the need for substantial additional financing to achieve its goals, uncertainty of broad adoption of its approved products, if any, by physicians and consumers, and significant competition.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s accounting for fair value measurements of assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring or nonrecurring basis adheres to the Financial Accounting Standards Board (“FASB”) fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: ● Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the Company at the measurement date. ● Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. ● Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The level in the fair value hierarchy within which a fair value measurement in its entirety falls, is based on the lowest level input that is significant to the fair value measurement in its entirety. The carrying values of cash equivalents, accounts payable, accrued expenses and other financial working capital items approximate fair value at December 31, 2023 and December 31, 2022, due to the short maturity nature of these items.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method, as required by the accounting standard for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss and tax credit carryforwards. Deferred taxes are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in results of operations in the period that includes the enactment date. The effects of any future changes in tax laws or rates have not been considered. The Company regularly reviews deferred tax assets to assess their potential realization and establish a valuation allowance for portions of such assets to reduce the carrying value if the Company does not consider it to be more likely than not that the deferred tax assets will be realized. The Company recognizes the impact of an uncertain tax position in its financial statements if, in management’s judgment, the position is more-likely-than-not sustainable upon audit based on the position’s technical merits. This involves the identification of potential uncertain tax positions, the evaluation of applicable tax laws and an assessment of whether a liability for an uncertain tax position is necessary.
Stock-Based Compensation	Stock-Based Compensation The Company’s stock-based compensation consists of stock options and restricted stock issued to certain employees and nonemployees of the Company and the Company’s 2017 Employee Stock Purchase Plan. The Company recognizes compensation expense based on an estimated grant date fair value using the Black-Scholes option-pricing method. If the factors change and different assumptions are used, the Company’s stock-based compensation expense could be materially different in the future. The Company recognizes stock-based compensation expense for these options on a straight-line basis over the requisite service period. The Company has elected to account for forfeitures as they occur.
Research and Development	Research and Development Research and development costs are expensed as incurred. Research and development costs amounted to $ 60,594,005 35,289,548
Clinical Trial Costs	Clinical Trial Costs The Company records prepaid assets or accrued expenses for prepaid or estimated clinical trial costs conducted by third-party service providers, which includes the conduct of preclinical studies and clinical trials. These costs can be a significant component of the Company’s research and development expenses. The Company primarily relies on a compilation of progress reports from third-party service providers, including the respective invoicing, to record actual expenses, along with determining changes to prepaid assets and accrued liabilities. To date, the Company believes utilization of third-party reports most accurately reflects expenses incurred. As the current VIKTORIA-1 Phase 3 and CELC-G-201 Phase 1b/2 trials ramp up site activation and patient enrollment, the Company’s estimated expenses in future periods and actual services performed may vary from these estimates, and these estimates may become more significant. Changes in these estimates that result in material changes to the Company’s prepaid assets or accrued expenses could materially affect the Company’s results of operations.
Segment Data	Segment Data The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions.

Basis of Presentation, Summar_3

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Property and Equipment	Estimated useful lives of property and equipment are as follows for the major classes of assets: Schedule of Estimated Useful Lives of Property and Equipment Asset Description Estimated Lives Furniture and Equipment 4 5 Leasehold Improvements 2 3

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Potentially-Dilutive Shares Excluded from the Diluted Weighted-Average Shares Outstanding	The following table summarizes the potentially-dilutive shares excluded from the diluted weighted-average shares outstanding: Schedule of Potentially-Dilutive Shares Excluded from the Diluted Weighted-Average Shares Outstanding 2023 2022 December 31, 2023 2022 Potentially-dilutive shares excluded from diluted weighted-average shares outstanding: Preferred stock on an as-if-converted to common stock 8,541,340 11,208,730 Options to purchase common stock 2,815,392 1,976,586 Warrants to purchase common stock 7,263,733 7,266,102 Restricted common stock 1,958 3,273 Total 18,622,423 20,454,691

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, All Other Investments [Abstract]
Schedule of Investment	The following table summarizes the Company’s held-to-maturity investment securities at amortized cost as of December 31, 2023 and 2022: Schedule of Investment Amortized Cost, as Adjusted Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value December 31, 2023 Amortized Cost, as Adjusted Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value U.S. Treasury Bills $ 149,919,974 $ 30,995 $ - $ 149,950,969 Total $ 149,919,974 $ 30,995 $ - $ 149,950,969 Amortized Cost, as Adjusted Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value December 31, 2022 Amortized Cost, as Adjusted Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Governmental Agency Securities $ 46,230,893 $ 29,517 $ - $ 46,260,410 U.S. Treasury Notes 97,785,061 41,639 - 97,826,700 Total $ 144,015,954 $ 71,156 $ - $ 144,087,110

Other Current Assets (Tables)

Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	Other current assets consisted of the following at December 31: Schedule of Other Current Assets 2023 2022 Current: Prepaid clinical trial $ 8,763,150 $ 5,656,737 Miscellaneous receivable 805,882 - Other 281,364 351,073 Prepaid directors & officers’ insurance 157,453 173,416 Prepaid research & development - 421,800 Total $ 10,007,849 $ 6,603,026

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consisted of the following at December 31: Summary of Property and Equipment 2023 2022 Furniture and equipment $ 1,788,195 $ 1,676,935 Leasehold improvements 302,577 302,577 Property and equipment, Gross 2,090,772 1,979,512 Less: Accumulated depreciation (1,861,990 ) (1,719,218 ) Total $ 228,782 $ 260,294

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following at December 31: Schedule of Accrued Expenses 2023 2022 Clinical trial costs $ 6,464,772 $ 2,246,573 Accrued compensation 1,763,316 929,216 Other 641,512 845,524 Employee stock purchase plan 57,494 38,967 Total $ 8,927,094 $ 4,060,280

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information consisted of the following at December 31, 2023: Schedule of Supplemental Balance Sheet Information Related to Leases Operating Lease Right-of-use assets $ 400,019 Operating lease liability $ 410,872 Less: short term portion (184,950 ) Long term portion $ 225,922
Schedule of Maturity Analysis Under Lease Agreements	Maturity analysis under lease agreements consisted of the following as of December 31, 2023: Schedule of Maturity Analysis Under Lease Agreements Operating Leases 2024 $ 213,537 2025 220,389 2026 74,170 Total minimum lease payments 508,096 Less: Present value discount (97,224 ) Present value of net minimum lease payments $ 410,872 Weighted Average Remaining Lease Term Discount Rate Operating lease 2.3 10.5 %
Schedule of Lease Costs	Lease costs for the period ended December 31: Schedule of Lease Costs 2023 2022 Operating lease cost $ 212,238 $ 197,767 Finance lease cost: Amortization 2,411 5,786 Interest 4 39 Variable lease cost 101,957 81,077 Lease costs $ 316,610 $ 284,669
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases period ended December 31: Schedule of Supplemental Cash Flow Information Related to Leases 2023 2022 Cash paid for amounts included in operating and finance leases: Operating cash outflow from operating leases $ 308,914 $ 282,086 Operating cash outflow from finance leases 4 39 Financing cash outflow from finance leases 2,449 5,850 Total cash paid for amounts included in operating and finance leases $ 311,367 $ 287,975

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Warrants	Schedule of Warrants At December 31, 2023: Issue Date Expiration Date # of Warrants Outstanding Exercise Price Offering 1/21/2016 1/14/2026 33,719 $ 7.56 private placement offering - issued to placement agent 5/2/2016 5/2/2026 21,530 $ 7.56 private placement offering - issued to placement agent 4/28/2017 4/28/2027 33,250 $ 8.42 private placement offering - issued to placement agent 5/17/2017 5/17/2027 15,365 $ 8.42 private placement offering - issued to placement agent 9/22/2017 9/22/2024 107,377 $ 9.50 purchasers of convertible notes 9/22/2017 9/19/2025 70,000 $ 10.45 IPO - issued to underwriter 4/8/2021 4/8/2031 26,042 $ 14.40 debt financing - issued to lender 12/9/2022 see below 6,956,450 $ 8.05 securities purchase agreement - issued to institutional and other accredited investors 10/18/2023 see above 5,747,787 $ 0.001 private placement offering - issued to investors Total Warrants Outstanding 13,011,520

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Options Activity	The following table summarizes the activity for all stock options outstanding for the years ended December 31: Schedule of Stock Options Activity 2023 2022 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding at beginning of year 1,976,586 $ 6.34 1,315,321 $ 11.97 Granted 1,003,298 10.69 843,797 7.64 Exercised (98,695 ) 3.94 (29,597 ) 5.15 Forfeited (65,797 ) 7.45 (152,935 ) 9.70 Balance at December 31: 2,815,392 $ 7.95 1,976,586 $ 6.34 Options exercisable at December 31: 1,524,731 $ 6.44 995,629 $ 5.91 Weighted Average Grant Date Fair Value for options granted during the period: $ 7.48 $ 5.22
Schedule of Stock Options Outstanding and Exercisable	The following table summarizes additional information about stock options outstanding and exercisable at December 31, 2023: Schedule of Stock Options Outstanding and Exercisable Options Outstanding Options Exercisable Options Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price Aggregate Intrinsic Value Options Exercisable Weighted Average Exercise Price Aggregate Intrinsic Value 2,815,392 7.95 $ 7.95 $ 18,740,216 1,524,731 $ 6.44 $ 12,478,244
Schedule of Assumptions for Fair Value of Equity-based Awards	The Black-Scholes option-pricing model was used to estimate the fair value of equity-based awards with the following weighted-average assumptions for the years ended December 31: Schedule of Assumptions for Fair Value of Equity-based Awards 2023 2022 Risk-free interest rate 3.41 4.86 % 1.68 4.22 % Expected volatility 77.1 79.8 % 76.2 79.6 % Expected life (years) 5.25 6.08 5.29 6.25 Expected dividend yield 0 % 0 %
Schedule of Unrecognized Compensation Cost	Total unrecognized compensation cost related to stock options and restricted stock is estimated to be recognized at December 31: Schedule of Unrecognized Compensation Cost 2024 $ 4,075,020 2025 2,770,901 2026 1,819,779 2027 906,379 Total estimated compensation cost to be recognized $ 9,572,079
Schedule of Stock-based Compensation Expense	The Company recognized total stock-based compensation expense as follows for the years ended December 31: Schedule of Stock-based Compensation Expense 2023 2022 Years Ended December 31: 2023 2022 Stock-based compensation expense in operating expenses: Research and development $ 2,700,318 $ 2,563,291 General and administrative 2,201,116 2,074,914 Total $ 4,901,434 $ 4,638,205

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consisted of the following at December 31, 2023 and 2022: Schedule of Long-term Debt 2023 2022 Note payable $ 35,000,000 $ 35,000,000 Add: PIK interest (added to principal) 2,565,660 755,075 Less: unamortized debt issuance costs (480,810 ) (707,001 ) Less: unamortized debt discount (49,439 ) (65,000 ) Total long-term debt $ 37,035,411 $ 34,983,074
Schedule of Long Term Debt Future Principal Payments	Future principal payments are as follows: Schedule of Long Term Debt Future Principal Payments Years Ending December 31, 2025 $ 14,087,122 2026 18,782,830 2027 4,695,708 Total $ 37,565,660

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	Schedule of Effective Income Tax Rate Reconciliation 2023 2022 Tax benefit at statutory federal rate $ (13,394,000 ) $ (8,478,000 ) State income tax benefit, net of federal tax effect (82,000 ) (64,000 ) Change in valuation allowance on deferred tax assets 13,542,000 9,543,000 Research & Development Credits (550,000 ) (1,347,000 ) Other permanent items 484,000 346,000 Income tax benefits $ - $ -
Schedule of Deferred Tax Assets and Liabilities	Schedule of Deferred Tax Assets and Liabilities 2023 2022 Deferred tax assets (liabilities): Accrued expenses $ 207,000 $ 103,000 Share-based compensation 2,141,000 1,419,000 Property and equipment 393,000 364,000 Right-of-use assets (85,000 ) (52,000 ) Lease liability 87,000 53,000 IRC 174 Expenditures 13,900,000 3,326,000 Start-up expenditures 11,029,000 10,333,000 Net operating losses and tax credits 8,461,000 7,045,000 Valuation allowance (36,133,000 ) (22,591,000 ) Net deferred tax assets $ - $ -

Schedule of Estimated Useful Li

Schedule of Estimated Useful Lives of Property and Equipment (Details)	Dec. 31, 2023
Minimum [Member] | Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	4 years
Minimum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Maximum [Member] | Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Maximum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years

Basis of Presentation, Summar_4

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash equivalents not FDIC insured, amount	$ 30,662,774	$ 24,571,557
Short-term investments	149,919,974	144,015,954
Deferred transaction costs	0	33,195
Research and development expense	$ 60,594,005	$ 35,289,548

Liquidity (Details Narrative)

Liquidity (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 30,662,774	$ 24,571,557
Short-term investments	$ 149,919,974	$ 144,015,954

Schedule of Potentially-Dilutiv

Schedule of Potentially-Dilutive Shares Excluded from the Diluted Weighted-Average Shares Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Potentially-dilutive shares excluded from diluted weighted-average shares outstanding:
Total	18,622,423	20,454,691
Options to Purchase Common Stock
Potentially-dilutive shares excluded from diluted weighted-average shares outstanding:
Total	2,815,392	1,976,586
Warrants to Purchase Common Stock [Member]
Potentially-dilutive shares excluded from diluted weighted-average shares outstanding:
Total	7,263,733	7,266,102
Restricted Stock [Member]
Potentially-dilutive shares excluded from diluted weighted-average shares outstanding:
Total	1,958	3,273
Preferred Stock on an as-if-converted to Common Stock [Member]
Potentially-dilutive shares excluded from diluted weighted-average shares outstanding:
Total	8,541,340	11,208,730

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details Narrative) - USD ($)		12 Months Ended
	Sep. 13, 2022	Dec. 31, 2022	Dec. 31, 2023
Earnings Per Share [Abstract]
Pre-funded warrant shares			5,747,787
Deemed dividend	$ 272,000
Increased net loss per share basic		$ 0.02
Increased net loss per share diluted		$ 0.02

Schedule of Investment (Details

Schedule of Investment (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss	$ 149,919,974	$ 144,015,954
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Gain	30,995	71,156
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss
Debt Securities, Held-to-Maturity, Fair Value	149,950,969	144,087,110
US Treasury Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss	149,919,974	97,785,061
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Gain	30,995	41,639
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss
Debt Securities, Held-to-Maturity, Fair Value	$ 149,950,969	97,826,700
US Government Agencies Debt Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss		46,230,893
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Gain		29,517
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss
Debt Securities, Held-to-Maturity, Fair Value		$ 46,260,410

Schedule of Other Current Asset

Schedule of Other Current Assets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current:
Prepaid clinical trial	$ 8,763,150	$ 5,656,737
Miscellaneous receivable	805,882
Other	281,364	351,073
Prepaid directors & officers’ insurance	157,453	173,416
Prepaid research & development		421,800
Total	$ 10,007,849	$ 6,603,026

Summary of Property and Equipme

Summary of Property and Equipment (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 2,090,772	$ 1,979,512
Less: Accumulated depreciation	(1,861,990)	(1,719,218)
Total	228,782	260,294
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	1,788,195	1,676,935
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 302,577	$ 302,577

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 142,772	$ 210,918

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Clinical trial costs	$ 6,464,772	$ 2,246,573
Accrued compensation	1,763,316	929,216
Other	641,512	845,524
Employee stock purchase plan	57,494	38,967
Total	$ 8,927,094	$ 4,060,280

Schedule of Supplemental Balanc

Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Operating Lease
Right-of-use assets	$ 400,019	$ 246,266
Operating lease liability	410,872
Less: short term portion	(184,950)	(191,749)
Long term portion	$ 225,922	$ 61,002

Schedule of Maturity Analysis U

Schedule of Maturity Analysis Under Lease Agreements (Details)	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 213,537
2025	220,389
2026	74,170
Total minimum lease payments	508,096
Less: Present value discount	(97,224)
Present value of net minimum lease payments	$ 410,872
Operating leases, remaining lease term	2 years 3 months 18 days
Operating leases, discount rate	10.50%

Schedule of Lease Costs (Detail

Schedule of Lease Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 212,238	$ 197,767
Finance lease cost:
Amortization	2,411	5,786
Interest	4	39
Variable lease cost	101,957	81,077
Lease costs	$ 316,610	$ 284,669

Schedule of Supplemental Cash F

Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in operating and finance leases:
Operating cash outflow from operating leases	$ 308,914	$ 282,086
Operating cash outflow from finance leases	4	39
Financing cash outflow from finance leases	2,449	5,850
Total cash paid for amounts included in operating and finance leases	$ 311,367	$ 287,975

Commitments (Details Narrative)

Commitments (Details Narrative) $ in Millions	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Non-cancelable contractual commitment	$ 2.1

Schedule of Warrants (Details)

Schedule of Warrants (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Sep. 13, 2022
Class of Warrant or Right [Line Items]
Expiration Date		Sep. 19, 2025
Number of Warrants Outstanding	$ 13,011,520
Warrant One [Member]
Class of Warrant or Right [Line Items]
Issue Date	Jan. 21, 2016
Expiration Date	Jan. 14, 2026
Number of Warrants Outstanding	$ 33,719
Exercise Price	$ 7.56
Offering	private placement offering - issued to placement agent
Warrant Two [Member]
Class of Warrant or Right [Line Items]
Issue Date	May 02, 2016
Expiration Date	May 02, 2026
Number of Warrants Outstanding	$ 21,530
Exercise Price	$ 7.56
Offering	private placement offering - issued to placement agent
Warrant Three [Member]
Class of Warrant or Right [Line Items]
Issue Date	Apr. 28, 2017
Expiration Date	Apr. 28, 2027
Number of Warrants Outstanding	$ 33,250
Exercise Price	$ 8.42
Offering	private placement offering - issued to placement agent
Warrant Four [Member]
Class of Warrant or Right [Line Items]
Issue Date	May 17, 2017
Expiration Date	May 17, 2027
Number of Warrants Outstanding	$ 15,365
Exercise Price	$ 8.42
Offering	private placement offering - issued to placement agent
Warrant Five [Member]
Class of Warrant or Right [Line Items]
Issue Date	Sep. 22, 2017
Expiration Date	Sep. 22, 2024
Number of Warrants Outstanding	$ 107,377
Exercise Price	$ 9.50
Offering	purchasers of convertible notes
Warrant Six [Member]
Class of Warrant or Right [Line Items]
Issue Date	Sep. 22, 2017
Expiration Date	Sep. 19, 2025
Number of Warrants Outstanding	$ 70,000
Exercise Price	$ 10.45
Offering	IPO - issued to underwriter
Warrant Seven [Member]
Class of Warrant or Right [Line Items]
Issue Date	Apr. 08, 2021
Expiration Date	Apr. 08, 2031
Number of Warrants Outstanding	$ 26,042
Exercise Price	$ 14.40
Offering	debt financing - issued to lender
Warrant Eight [Member]
Class of Warrant or Right [Line Items]
Issue Date	Dec. 09, 2022
Number of Warrants Outstanding	$ 6,956,450
Exercise Price	$ 8.05
Offering	securities purchase agreement - issued to institutional and other accredited investors
Warrant Nine [Member]
Class of Warrant or Right [Line Items]
Issue Date	Oct. 18, 2023
Number of Warrants Outstanding	$ 5,747,787
Exercise Price	$ 0.001
Offering	private placement offering - issued to investors

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - USD ($)															12 Months Ended
	Dec. 12, 2023	Dec. 01, 2023	Oct. 20, 2023	Oct. 18, 2023	Oct. 16, 2023	Sep. 21, 2023	Jun. 29, 2023	Mar. 31, 2023	Dec. 22, 2022	Dec. 09, 2022	Oct. 12, 2022	Sep. 13, 2022	May 16, 2022	Feb. 04, 2022	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Common stock, shares authorized															65,000,000	65,000,000
Common stock, shares outstanding															25,506,012	21,667,250
Preferred stock, shares authorized															2,500,000	2,500,000
Preferred stock, shares outstanding															854,134	1,120,873
Declared Dividend															$ 0
Common stock, shares issued															25,506,012	21,667,250
Series A preferred stock, issued															854,134	1,120,873
Proceeds from issuance of private placement									$ 100,000,000							$ 95,721,786
Common stock, par value															$ 0.001	$ 0.001
Expiration date												Sep. 19, 2025
Estimated incremental fair value of the warrants												$ 271,988
Maximum [Member]
Class of Stock [Line Items]
Warrants to purchase stock												138,000
Minimum [Member]
Class of Stock [Line Items]
Warrants to purchase stock												70,000
Warrant [Member]
Class of Stock [Line Items]
Warrants outstanding															13,011,520	7,266,102
Weighted average exercise price of warrants															$ 4.53	$ 8.12
Warrants exercised															2,369	0
Institutional and Other Accredited Investors [Member]
Class of Stock [Line Items]
Sale of stock number of shares issued in transaction		1,034,500
Issuance of public offering price per share		$ 14.50								$ 5.75
Commissions and other offering expenses		$ 600,000
Common stock, shares issued										6,182,574
Series A preferred stock, issued										1,120,873
Warrants exerciseable for common stock										$ 6,956,450
Percentage of warrant exercise price										40%
Proceeds from issuance of private placement			$ 50,000,000							$ 100,000,000
Placement agent fees and other offering expense										$ 4,300,000
Gross proceeds from public offering		$ 15,000,000
Exercise price of common stock warrants										$ 8.05
Offering expenses			$ 100,000
Institutional and Other Accredited Investors [Member] | Additional Paid-in Capital [Member]
Class of Stock [Line Items]
Incremental fair value of warrant										$ 21,800,000
Open Market Sale Agreement [Member] | Jefferies LLC [Member]
Class of Stock [Line Items]
Aggregate offering price, common stock shares														$ 50,000,000
Aggregate offering price, commission percentage														3%
Sale of stock number of shares issued in transaction											500,000
Issuance of public offering price per share											$ 10.35
Gross proceeds from public offering											$ 5,200,000
Commissions and other offering expenses											$ 400,000
Securities Purchase Agreement [Member]
Class of Stock [Line Items]
Pre-funded warrants sold to investors				5,747,787
Common stock, par value				$ 0.001
Securities Purchase Agreement [Member] | Warrant [Member]
Class of Stock [Line Items]
Warrant purchase price				8.699
Exercise price of common stock warrants				$ 0.001
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized													1,850,000		1,850,000	1,850,000
Voting right													The Series A Preferred Stock is non-voting, and each share is convertible at the option of the holder, subject to certain limitations, into 10 shares of common stock.
Redemption terms													In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, or in the event of a Deemed Liquidation Event (as defined in the Certificate of Designations of Preferences, Rights and Limitations of Series A Convertible Preferred Stock), the holders of Series A Preferred Stock are entitled to be paid from assets of the Company available for distribution to its stockholders, before any payment is made to the holders of common stock by reason of their ownership thereof, an amount per share equal to the greater of (i) the original issue price ($5.75 on an as-converted-to-common stock basis), plus all accrued and unpaid dividends and (ii) the amount that the holder would have been entitled to receive at such time if the Series A Preferred Stock were converted into common stock.
Redemption price per share													$ 5.75
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares converted	25,000				181,739	25,000	10,000	25,000
Cost basis of shares transferred	$ 5.75				$ 5.75	$ 5.75	$ 5.75	$ 5.75
Common Stock [Member]
Class of Stock [Line Items]
Number of shares issued in conversion	250,000				1,817,390	250,000	100,000	250,000

Schedule of Stock Options Activ

Schedule of Stock Options Activity (Details) - Share-Based Payment Arrangement, Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Offsetting Assets [Line Items]
Options outstanding at beginning of year	1,976,586	1,315,321
Options outstanding, weighted average exercise price at beginning of year	$ 6.34	$ 11.97
Shares, Granted	1,003,298	843,797
Weighted Average Exercise Price, Granted	$ 10.69	$ 7.64
Shares, Exercised	(98,695)	(29,597)
Weighted Average Exercise Price, Exercised	$ 3.94	$ 5.15
Shares, Forfeited	(65,797)	(152,935)
Weighted Average Exercise, Forfeited	$ 7.45	$ 9.70
Options outstanding at end of year	2,815,392	1,976,586
Options outstanding, weighted average exercise price at end of year	$ 7.95	$ 6.34
Shares, options exercisable	1,524,731	995,629
Weighted Average Exercise Price, Options exercisable	$ 6.44	$ 5.91
Weighted Average Grant Date Fair Value for options granted during the period	$ 7.48	$ 5.22

Schedule of Stock Options Outst

Schedule of Stock Options Outstanding and Exercisable (Details) - Share-Based Payment Arrangement, Option [Member]	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options outstanding | shares	2,815,392
Options outstanding, weighted average remaining contractual life	7 years 11 months 12 days
Options outstanding, weighted average exercise price | $ / shares	$ 7.95
Options outstanding, aggregate intrinsic value | $	$ 18,740,216
Options exercisable | shares	1,524,731
Options exercisable, weighted average exercise price | $ / shares	$ 6.44
Options exercisable, aggregate intrinsic value | $	$ 12,478,244

Schedule of Assumptions for Fai

Schedule of Assumptions for Fair Value of Equity-based Awards (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate, minimum	3.41%	1.68%
Risk-free interest rate maximum	4.86%	4.22%
Expected volatility, minimum	77.10%	76.20%
Expected volatility, maximum	79.80%	79.60%
Expected dividend yield	0%	0%
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected life (years)	5 years 3 months	5 years 3 months 14 days
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected life (years)	6 years 29 days	6 years 3 months

Schedule of Unrecognized Compen

Schedule of Unrecognized Compensation Cost (Details)	Dec. 31, 2023 USD ($)
Share-Based Payment Arrangement [Abstract]
2024	$ 4,075,020
2025	2,770,901
2026	1,819,779
2027	906,379
Total estimated compensation cost to be recognized	$ 9,572,079

Schedule of Stock-based Compens

Schedule of Stock-based Compensation Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 4,901,434	$ 4,638,205
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	2,700,318	2,563,291
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 2,201,116	$ 2,074,914

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	May 11, 2023	Jan. 01, 2023	May 31, 2022	May 12, 2022	Jan. 01, 2022	Dec. 31, 2021	May 12, 2021	May 31, 2020	May 10, 2018	Oct. 25, 2017	Aug. 10, 2012
May 2022 Exercise Price Modification [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock option awards shares modified					776,324
Stock option exercise price per share					$ 5.50
Stock based compensation expense related to modification	$ 134,000	$ 517,000
Remaining stock based compensation expense related to modification	163,000
December 2021 Exercise Price Modification [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock option awards shares modified								311,000
Stock option exercise price per share								$ 13.44
Stock based compensation expense related to modification	65,000	92,000
Remaining stock based compensation expense related to modification	98,000
May 2020 Exercise Price Modification [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock option awards shares modified										203,750
Stock option exercise price per share										$ 5.10
Stock based compensation expense related to modification	19,000	38,000
2012 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares reserved for issuance													625,000
2017 Stock Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares reserved for issuance												750,000
Change in common stock, shares reserved for issuance				216,673		500,000	149,189		500,000
Total common stock, shares reserved for issuance			1,500,000			1,000,000			1,000,000
Recognized stock-based compensation expense	$ 166,460	181,359
Shares available for grant under the 2017 Plan	1,019,149
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Recognized stock-based compensation expense	$ 4,716,475	4,415,415
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Recognized stock-based compensation expense	$ 18,499	$ 41,431
Restricted stock awards outstanding	1,958	3,273
Restricted stock awards vested	3,273	3,214
2017 Employee Stock Purchase Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares reserved for issuance											100,000
Change in common stock, shares reserved for issuance				108,337			74,595
Shares available for grant under the 2017 Plan	266,635
Stock option description	the number of shares equal to 0.5% of the total outstanding number of shares of Company common stock as of the immediately preceding December 31.

Schedule of Long-term Debt (Det

Schedule of Long-term Debt (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Note payable	$ 35,000,000	$ 35,000,000
Add: PIK interest (added to principal)	2,565,660	755,075
Less: unamortized debt issuance costs	(480,810)	(707,001)
Less: unamortized debt discount	(49,439)	(65,000)
Total long-term debt	$ 37,035,411	$ 34,983,074

Schedule of Long Term Debt Futu

Schedule of Long Term Debt Future Principal Payments (Details)	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2025	$ 14,087,122
2026	18,782,830
2027	4,695,708
Total	$ 37,565,660

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)					12 Months Ended
	Dec. 22, 2022	Aug. 09, 2022	May 16, 2022	Apr. 08, 2021	Dec. 31, 2023	Dec. 31, 2022
Short-Term Debt [Line Items]
Debt discount, amount					$ 49,439	$ 65,000
Proceeds from issuance of private placement	$ 100,000,000					$ 95,721,786
Prepayment fee, percentage		3%
Private Placement [Member]
Short-Term Debt [Line Items]
Proceeds from issuance of private placement			$ 100,000,000
Innovatus Life Sciences [Member] | Amended Loan Agreement [Member]
Short-Term Debt [Line Items]
Funded contingent loan, amount					35,000,000
Debt issuance costs					$ 1,100,000
Innovatus Life Sciences [Member] | Amended Loan Agreement [Member] | Term A Loan [Member]
Short-Term Debt [Line Items]
Non contingent Term A loan funded				$ 15,000,000
Funded contingent loan, amount				15,000,000
Innovatus Life Sciences [Member] | Amended Loan Agreement [Member] | Term B Loan [Member]
Short-Term Debt [Line Items]
Unfunded contingent maximum loan, amount		$ 20,000,000
Funded contingent loan, amount	$ 20,000,000
Innovatus Life Sciences [Member] | Amended Loan Agreement [Member] | Term C Loan [Member]
Short-Term Debt [Line Items]
Unfunded contingent maximum loan, amount		10,000,000
Innovatus Life Sciences [Member] | Amended Loan Agreement [Member] | Term D Loan [Member]
Short-Term Debt [Line Items]
Unfunded contingent maximum loan, amount		20,000,000
Innovatus Life Sciences [Member] | Amended Loan Agreement [Member] | Term E Loan [Member]
Short-Term Debt [Line Items]
Unfunded contingent maximum loan, amount		$ 10,000,000
Loan and security agreement [Member] | Innovatus Life Sciences [Member]
Short-Term Debt [Line Items]
Line of credit facility, maximum borrowing capacity				25,000,000
Non contingent term A loan, funded				15,000,000
Term B loan to be funded before March 31, 2022				5,000,000
Term C loan to be funded before March 31, 2023				$ 5,000,000
Warrant or Right, Reason for Issuance, Description				The Loan Agreement also contains certain events of default, warranties and covenants of the Company. In connection with each funding of the Term Loans, the Company is required to issue Innovatus a warrant (the “Warrants”) to purchase a number of shares of the Company’s stock equal to 2.5% of the principal amount of the relevant Term Loan funded divided by the exercise price, which will be based on the lower of (i) $14.40 per share or (ii) the volume weighted price per share of the Company’s stock for the five-trading day period ending on the last trading day immediately preceding the funding date of the Term B or Term C Loan, as applicable.
Number of warrant to purchase shares of common stock				26,042
Warrant exercise price per share				$ 14.40
Debt instrument, unamortized discount premium, net				$ 300,000
Final fee payable to lender, amount				700,000
Debt discount, amount				$ 100,000
Amended Loan Agreement [Member]
Short-Term Debt [Line Items]
Loan convertible to stock percentage, description		(1) 20% of the outstanding principal amount of term A loan, and (ii) an additional 7% of the amount by which the aggregate principal amount of the funded term B, C, D, and E loans exceed $35 million, provided that the aggregate outstanding principal amount of all term loans is at least $35 million, which such conversion based upon a price per share equal to $10.00. No additional warrants are required to be issued under the funding of term B, C, D, and E.
Debt instrument interest rate description		The Company is entitled to make interest-only payments for forty-eight months, or up to sixty months from the original Loan Agreement date if certain conditions are met. The Term Loans will mature on April 8, 2027, the sixth anniversary of the initial funding date, and will bear interest at a rate equal to the sum of (a) the greater of (i) Prime Rate (as defined in the amended Loan Agreement) or (ii) 3.25%, plus 5.7%. Additionally, the Company elected to make 4.95% of the interest rate as payable in-kind, which shall accrue as principal monthly. The Amended Loan Agreement includes certain other fees, such as a final fee of 4.5% of the funded loan amounts not converted into equity by the lender, which apply if prepayment, an event of default, or change of control occurs prior to August 9, 2025, the third anniversary of the Amendment date.
Amended Loan Agreement [Member] | Innovatus Life Sciences [Member]
Short-Term Debt [Line Items]
Unfunded contingent maximum loan, amount		$ 75,000,000
Increase from original loan amount		$ 50,000,000

Schedule of Effective Income Ta

Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Tax benefit at statutory federal rate	$ (13,394,000)	$ (8,478,000)
State income tax benefit, net of federal tax effect	(82,000)	(64,000)
Change in valuation allowance on deferred tax assets	13,542,000	9,543,000
Research & Development Credits	(550,000)	(1,347,000)
Other permanent items	484,000	346,000
Income tax benefits

Schedule of Deferred Tax Assets

Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Accrued expenses	$ 207,000	$ 103,000
Share-based compensation	2,141,000	1,419,000
Property and equipment	393,000	364,000
Right-of-use assets	(85,000)	(52,000)
Lease liability	87,000	53,000
IRC 174 Expenditures	13,900,000	3,326,000
Start-up expenditures	11,029,000	10,333,000
Net operating losses and tax credits	8,461,000	7,045,000
Valuation allowance	(36,133,000)	(22,591,000)
Net deferred tax assets

Income Taxes (Details Narrative

Income Taxes (Details Narrative) $ in Millions	Dec. 31, 2023 USD ($)
Operating Loss Carryforwards [Line Items]
Federal net operating loss carryforwards	$ 25.9
State net operating loss carryforwards	0.7
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	2
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	$ 1.3

Subsequent Event (Details Narra

Subsequent Event (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Cash		$ 22,505
Investor [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Warrants exercised shares	1,739,080
Exercise Price	$ 8.05
Cash	$ 14,000,000