Celcuity (CELC) 10-Q 14 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - $ / shares	6 Months Ended
	Jun. 30, 2024	Aug. 07, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-38207
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		37,028,733
Entity Listing, Par Value Per Share	$ 0.001

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 30,458,800	$ 30,662,774
Investments	252,609,622	149,919,974
Other current assets	8,862,940	10,007,849
Total current assets	291,931,362	190,590,597
Property and equipment, net	308,444	228,782
Operating lease right-of-use assets	305,179	400,019
Total Assets	292,544,985	191,219,398
Current Liabilities:
Accounts payable	6,203,132	5,076,699
Operating lease liabilities	178,587	184,950
Accrued expenses	13,146,769	8,927,094
Total current liabilities	19,528,488	14,188,743
Operating lease liabilities	138,533	225,922
Note payable, non-current	96,193,172	37,035,411
Total Liabilities	115,860,193	51,450,076
Commitments and Contingencies (Note 5)
Stockholders’ Equity:
Preferred stock, $0.001 par value: 2,500,000 shares authorized; 317,577 and 854,134 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	318	854
Common stock, $0.001 par value: 65,000,000 shares authorized; 37,014,751 and 25,506,012 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	37,015	25,506
Additional paid-in capital	382,057,737	299,818,965
Accumulated deficit	(205,410,278)	(160,076,003)
Total Stockholders’ Equity	176,684,792	139,769,322
Total Liabilities and Stockholders’ Equity	$ 292,544,985	$ 191,219,398

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
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	317,577	854,134
Preferred stock, shares outstanding	317,577	854,134
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	65,000,000	65,000,000
Common stock, shares issued	37,014,751	25,506,012
Common stock, shares outstanding	37,014,751	25,506,012

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating expenses:
Research and development	$ 22,496,975	$ 13,746,082	$ 43,144,534	$ 25,024,575
General and administrative	1,786,111	1,309,403	3,632,387	2,578,447
Total operating expenses	24,283,086	15,055,485	46,776,921	27,603,022
Loss from operations	(24,283,086)	(15,055,485)	(46,776,921)	(27,603,022)
Other income (expense)
Interest expense	(2,260,583)	(1,314,996)	(3,661,295)	(2,557,008)
Interest income	2,821,849	1,782,794	5,103,941	3,633,926
Other income (expense), net	561,266	467,798	1,442,646	1,076,918
Net loss before income taxes	(23,721,820)	(14,587,687)	(45,334,275)	(26,526,104)
Income tax benefits
Net loss	$ (23,721,820)	$ (14,587,687)	$ (45,334,275)	$ (26,526,104)
Net loss per share, basic	$ (0.62)	$ (0.66)	$ (1.26)	$ (1.22)
Net loss per share, diluted	$ (0.62)	$ (0.66)	$ (1.26)	$ (1.22)
Weighted average common shares outstanding, basic	38,444,163	21,957,140	36,028,109	21,819,772
Weighted average common shares outstanding, diluted	38,444,163	21,957,140	36,028,109	21,819,772

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
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			1,273,282		1,273,282
Exercise of common stock options, net of shares withheld for exercise price	$ 24		127,898		127,922
Exercise of common stock options, net of shares withheld for exercise price, shares	24,122
Conversion of preferred to common stock	$ 250	$ (25)	(225)
Conversion of preferred to common stock, shares	250,000	(25,000)
Net loss				(11,938,417)	(11,938,417)
Issuance costs associated with private placement offering			(7,486)		(7,486)
Balance at Mar. 31, 2023	$ 21,941	$ 1,096	231,439,035	(108,235,304)	123,226,768
Balance, shares at Mar. 31, 2023	21,941,372	1,095,873
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
Net loss					(26,526,104)
Balance at Jun. 30, 2023	$ 22,082	$ 1,086	232,932,164	(122,822,991)	110,132,341
Balance, shares at Jun. 30, 2023	22,081,893	1,085,873
Balance at Mar. 31, 2023	$ 21,941	$ 1,096	231,439,035	(108,235,304)	123,226,768
Balance, shares at Mar. 31, 2023	21,941,372	1,095,873
Stock-based compensation	$ 2		1,276,980		1,276,982
Stock-based compensation, shares	1,958
Exercise of common stock options, net of shares withheld for exercise price	$ 22		113,618		113,640
Exercise of common stock options, net of shares withheld for exercise price, shares	21,086
Conversion of preferred to common stock	$ 100	$ (10)	(90)
Conversion of preferred to common stock, shares	100,000	(10,000)
Net loss				(14,587,687)	(14,587,687)
Employee stock purchases	$ 17		102,621		102,638
Employee stock purchases, shares	17,477
Balance at Jun. 30, 2023	$ 22,082	$ 1,086	232,932,164	(122,822,991)	110,132,341
Balance, shares at Jun. 30, 2023	22,081,893	1,085,873
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
Stock-based compensation			1,331,346		1,331,346
Stock-based compensation, shares
Exercise of common stock warrants, net of shares withheld for exercise price	$ 1,742		14,007,409		14,009,151
Exercise of common stock warrants, net of shares withheld for exercise price, shares	1,742,763
Exercise of common stock options, net of shares withheld for exercise price	$ 37		239,263		239,300
Exercise of common stock options, net of shares withheld for exercise price, shares	36,550
Conversion of preferred to common stock	$ 3,489	$ (349)	(3,140)
Conversion of preferred to common stock, shares	3,488,570	(348,857)
Net loss				(21,612,455)	(21,612,455)
Balance at Mar. 31, 2024	$ 30,774	$ 505	315,393,843	(181,688,458)	133,736,664
Balance, shares at Mar. 31, 2024	30,773,895	505,277
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
Net loss					(45,334,275)
Balance at Jun. 30, 2024	$ 37,015	$ 318	382,057,737	(205,410,278)	176,684,792
Balance, shares at Jun. 30, 2024	37,014,751	317,577
Balance at Mar. 31, 2024	$ 30,774	$ 505	315,393,843	(181,688,458)	133,736,664
Balance, shares at Mar. 31, 2024	30,773,895	505,277
Stock-based compensation	$ 1		1,410,512		1,410,513
Stock-based compensation, shares	1,429
Exercise of common stock warrants, net of shares withheld for exercise price	$ 19		172,967		172,986
Exercise of common stock warrants, net of shares withheld for exercise price, shares	19,390
Exercise of common stock options, net of shares withheld for exercise price	$ 17		95,694		95,711
Exercise of common stock options, net of shares withheld for exercise price, shares	16,197
Conversion of preferred to common stock	$ 1,878	$ (187)	(1,691)
Conversion of preferred to common stock, shares	1,877,000	(187,700)
Net loss				(23,721,820)	(23,721,820)
Employee stock purchases	$ 20		131,226		131,246
Employee stock purchases, shares	20,426
Issuance of common stock in an ATM offering	$ 435		7,641,765		7,642,200
Issuance of common stock in an ATM offering, shares	435,414
Issuance costs associated with an ATM offering			(263,727)		(263,727)
Issuance of common stock upon closing of follow-on offering, net of underwriting discounts and offering costs	$ 3,871		56,248,237		56,252,108
Issuance of common stock upon closing of follow-on offering, net of underwriting discounts and offering costs, shares	3,871,000
Issuance of common stock warrants, note payable			1,228,911		1,228,911
Balance at Jun. 30, 2024	$ 37,015	$ 318	$ 382,057,737	$ (205,410,278)	$ 176,684,792
Balance, shares at Jun. 30, 2024	37,014,751	317,577

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (45,334,275)	$ (26,526,104)
Adjustments to reconcile net loss to net cash and cash equivalents used for operations:
Depreciation	60,672	81,269
Stock-based compensation	2,741,858	2,550,264
Amortization of debt issuance costs and discount	302,302	116,218
Payment-in-Kind interest	858,096	886,688
Non-cash operating lease expense, net	1,088	1,975
Change in accrued interest income	(638,836)	41,188
Changes in operating assets and liabilities:
Other current assets	1,471,542	86,666
Accounts payable	1,182,816	421,091
Accrued expenses	4,219,675	(189,145)
Net cash used for operating activities	(35,135,062)	(22,529,890)
Cash flows from investing activities:
Proceeds from maturities of investments	260,389,589	143,873,027
Purchases of investments	(362,767,031)	(113,903,646)
Purchases of property and equipment	(153,949)	(11,841)
Net cash (used for) provided by investing activities	(102,531,391)	29,957,540
Cash flows from financing activities:
Proceeds from exercise of common stock warrants	14,182,137
Proceeds from exercise of employee stock options	335,013	241,562
Proceeds from employee stock purchases	131,246	102,638
Proceeds from follow-on offering, net of underwriting discounts and offering costs	56,258,027
Proceeds from note payable, net of debt issuance costs and discount of $2,429,917	59,234,003
Proceeds from an ATM offering, net of issuance costs	7,356,107
Payments for secondary registration statement costs	(34,054)	(99,540)
Payments for debt issuance costs		(2,716)
Payments for finance leases		(2,449)
Net cash provided by financing activities	137,462,479	239,495
Net change in cash and cash equivalents	(203,974)	7,667,145
Cash and cash equivalents:
Beginning of period	30,662,774	24,571,557
End of period	30,458,800	32,238,702
Supplemental disclosure of cash flow information:
Interest paid	2,500,897	1,554,103
Supplemental disclosures of non-cash investing and financing activities:
Offering and registration statement costs included in accounts payable	13,645	2,143
Property and equipment included in accounts payable		19,993
Non-cash interest receivable	326,633
Common stock warrants issued with note payable transaction	$ 1,228,911

Condensed Statements of Cash _2

Condensed Statements of Cash Flows (Unaudited) (Parenthetical)	Jun. 30, 2024 USD ($)
Statement of Cash Flows [Abstract]
Debt issuance costs and discount	$ 2,429,917

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (23,721,820)	$ (21,612,455)	$ (14,587,687)	$ (11,938,417)	$ (45,334,275)	$ (26,526,104)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
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	6 Months Ended
	Jun. 30, 2024
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 focused on development of targeted therapies for treatment of multiple solid tumor indications. 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. A Phase 3 clinical trial, VIKTORIA-2, evaluating gedatolisib plus a CDK4/6 inhibitor and fulvestrant as first-line treatment for patients with HR+/HER2- advanced breast cancer is expected to begin enrolling patients in the second quarter of 2025. 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	6 Months Ended
	Jun. 30, 2024
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 unaudited financial statements include the accounts of the Company and have been prepared in accordance with Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, as permitted by Article 10, the unaudited financial statements do not include all of the information required by accounting principles generally accepted in the United States (“U.S. GAAP”). The balance sheet at December 31, 2023 was derived from the audited financial statements at that date and does not include all the disclosures required by U.S. GAAP. In the opinion of management, all adjustments which are of a normal recurring nature and necessary for a fair presentation have been reflected in the financial statements. These unaudited condensed financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2023 and the related footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period. Accounting Estimates Management uses estimates and assumptions in preparing these unaudited condensed 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 material. Significant items subject to such estimates and assumptions include the valuation of stock-based compensation and prepaid or accrued clinical trial costs. 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 diagnostic tests, ability to obtain regulatory approval of its diagnostic tests, the clinical and commercial success of its initial drug product, gedatolisib, 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. 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.

Net Loss Per Common Share

Net Loss Per Common Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Loss Per Common Share	3. 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 Diluted Weighted-Average Shares Outstanding June 30, 2024 2023 Preferred stock on an as-if-converted to common stock basis 3,175,770 10,858,730 Options to purchase common stock 3,266,969 2,185,567 Warrants to purchase common stock 5,600,234 7,266,102 Restricted common stock 1,079 1,958 Total 12,044,052 20,312,357 Pre-funded warrant shares of 5,747,787 zero

Investments

Investments	6 Months Ended
	Jun. 30, 2024
Investments, All Other Investments [Abstract]
Investments	4. Investments Debt securities for which the Company has the positive intent and ability to hold to maturity are classified as held-to-maturity and reported at historical cost adjusted for amortization of premiums and accretion of discounts. Expected credit losses, if any, are recorded through the establishment of an allowance for credit losses. All of the Company’s investment securities are U.S. Treasury and agencies securities that are guaranteed or otherwise supported by the United States government and have no history of credit losses. Accordingly, the Company does not expect to incur any credit losses on investment securities and has allowance for credit losses recorded for these securities. The following tables summarize the Company’s held-to-maturity investment securities at amortized cost as of June 30, 2024 and December 31, 2023: Schedule of Investment June 30, 2024 Amortized Cost, Gross Gross Estimated U.S. Treasury Bills $ 252,609,622 $ 5,271 $ - $ 252,614,893 Total $ 252,609,622 $ 5,271 $ - $ 252,614,893 December 31, 2023 Amortized Cost, Gross Gross Estimated U.S. Treasury Bills $ 149,919,974 $ 30,995 $ - $ 149,950,969 Total $ 149,919,974 $ 30,995 $ - $ 149,950,969 The fair value of the Company’s held-to-maturity debt securities is 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.

Commitments

Commitments	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments	5. 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. 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 two 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 and the Expanded Access studies 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 June 30, 2024, the Company had two material non-cancelable contractual commitments with respect to these arrangements, which totaled approximately $ 1.8

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders’ Equity	6. Stockholders’ Equity Capital Stock At December 31, 2023, the Company’s authorized capital stock consisted of 65,000,000 .001 25,506,012 2,500,000 .001 854,134 On January 15, 2024, one of the Company’s preferred shareholders elected to convert 224,244 2,242,440 5.75 On March 14, 2024, one of the Company’s preferred shareholders elected to convert 50,000 500,000 5.75 On March 15, 2024, one of the Company’s investors exercised 1,739,080 8.05 14 Additional common stock warrants of 3,683 9,000 3,683 On March 19, 2024, one of the Company’s preferred shareholders elected to convert 43,913 439,130 5.75 On March 26, 2024, one of the Company’s preferred shareholders elected to convert 30,700 307,000 5.75 On May 31, 2024, one of the Company’s preferred shareholders elected to convert 100,000 1,000,000 5.75 On June 26, 2024, one of the Company’s preferred shareholders elected to convert 87,700 877,000 5.75 Common stock warrants of 19,390 173,000 19,390 At June 30, 2024, the Company’s authorized capital stock consisted of 65,000,000 37,014,751 2,500,000 1,850,000 317,577 no Sale and Issuance of Stock On April 22, 2024, pursuant to an Open Market Sale Agreement SM 285,714 shares of Common Stock in a single transaction at a price of $ 17.50 per share, generating gross proceeds of $ 5.0 million. On May 8, 2024, pursuant to an Open Market Sale Agreement with Jefferies LLC, as agent, the Company sold 149,700 17.65 2.6 Commissions and other offering expenses related to the Open Market Sale Agreement transactions were $ 0.3 On May 30, 2024, the Company entered into an underwriting agreement with Leerink Partners LLC, TD Securities (USA) LLC and Stifel, Nicolaus & Company, Incorporated as representatives of the several underwriters relating to the issuance and sale of 3,871,000 15.50 60 56.3

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	7. Stock-Based Compensation The following table summarizes the activity for all stock options outstanding for the six months ended June 30: Schedule of Stock Options Activity 2024 2023 Shares Weighted Shares Weighted Options outstanding at beginning of year 2,815,392 $ 7.95 1,976,586 $ 6.34 Granted 552,179 15.77 310,798 10.74 Exercised (52,747 ) 6.35 (45,208 ) 5.34 Forfeited (47,855 ) 10.19 (56,609 ) 7.67 Balance at June 30 3,266,969 $ 9.27 2,185,567 $ 6.96 Options exercisable at June 30: 1,710,917 $ 6.80 1,346,587 $ 5.97 Weighted Average Grant Date Fair Value for options granted during the period: $ 10.83 $ 7.42 The following table summarizes additional information about stock options outstanding and exercisable at June 30, 2024: Schedule of Stock Options Outstanding and Exercisable Options Outstanding Options Exercisable Options Weighted Weighted Aggregate Options Weighted Aggregate 3,266,969 7.84 $ 9.27 $ 23,463,751 1,710,917 $ 6.80 $ 16,452,728 The Company recognized stock-based compensation expense for stock options of $ 1,329,807 1,228,284 2,619,999 2,450,612 776,324 5.50 26,692 37,690 53,411 77,302 110,000 311,000 13.44 15,763 16,920 31,527 33,844 66,000 203,750 5.10 0 6,826 696 13,934 0 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 six months ended June 30: Schedule of Assumptions for Fair Value of Equity-based Awards 2024 2023 Risk-free interest rate 3.94 4.71 % 3.41 4.14 % Expected volatility 74.8 76.10 % 78.0 79.8 % Expected life (years) 5.25 6.09 5.25 6.08 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. Restricted stock awards were granted to members of the Company’s board during the three months ended June 30, 2024 and 2023. The Company had 1,079 1,958 1,958 3,273 8,475 4,052 13,325 8,694 The Company initially reserved a maximum of 750,000 102,998 149,189 216,673 255,060 increase automatically on January 1 of each year from 2025 through 2027 by the number of shares equal to 1.0% of the aggregate number of outstanding shares of Company common stock as of the immediately preceding December 31. However, the Company’s board may reduce the amount of the increase in any particular year. At the Annual Meeting held on May 12, 2021 and May 12, 2022, the stockholders approved a one-time, 500,000 1,000,000 1,500,000 3,000,000 2,267,956 Total unrecognized compensation cost related to stock options and restricted stock is estimated to be recognized at June 30, 2024: Schedule of Unrecognized Compensation Cost 2024 $ 2,883,195 2025 4,356,405 2026 3,048,001 2027 2,065,139 2028 244,019 Total estimated compensation cost to be recognized $ 12,596,759 The Company recognized stock-based compensation expense related to its employee stock purchase plan of $ 72,230 44,646 108,534 90,958 100,000 51,499 74,594 108,337 127,530 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. 373,739 The Company recognized total stock-based compensation expense as follows for the three and six months ended June 30: Schedule of Stock-based Compensation Expenses 2024 2023 2024 2023 Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Stock-based compensation expense in operating expenses: Research and development $ 978,037 $ 639,511 $ 1,810,216 $ 1,293,982 General and administrative 432,475 637,471 931,642 1,256,282 Total $ 1,410,512 $ 1,276,982 $ 2,741,858 $ 2,550,264

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	8. Debt On May 30, 2024, the Company entered into an Amended and Restated Loan and Security Agreement (the “A&R Loan Agreement”) with Innovatus Life Sciences Lending Fund I, LP, a Delaware limited partnership (“Innovatus”), as collateral agent, and the Lenders including Innovatus in its capacity as a Lender and Oxford Finance LLC (“Oxford”), pursuant to which Innovatus and Oxford, as Lenders, have agreed to make certain term loans (“Term Loans”) to the Company in the aggregate principal amount of up to $ 180 Funding of the first $ 100 16.8 21.5 61.7 30 50 45 2.4 The Company is entitled to make interest-only payments for thirty-six months, or up to forty-eight months if certain conditions are met. The Term Loans will mature on May 1, 2029 and will bear interest at a rate equal to the sum of (a) the greater of (i) the Prime Rate (as defined in the A&R Loan Agreement) or (ii) 7.75%, plus (b) 2.85%, provided that 1.0% of such interest will be payable in-kind by adding an amount equal to such 1.0% of the outstanding principal amount to the then outstanding principal balance on a monthly basis through May 31, 2027. 20 10.00 26,042 14.40 The A&R Loan Agreement contains a Final Fee, which is equal to 4.5 900,000 1,500,000 4.5 In connection with the funding of each of the Term C Loan, the Term D Loan, the Term E Loan and the Term F Loan, the Company agreed to issue to Innovatus and Oxford warrants to purchase that number of shares of the Company’s common stock equal to 2.5 103,876 14.84 1.2 The Company evaluated the change of terms under ASC 470-50, “Debt – Modification and Extinguishment”, and concluded the change in terms did not result in significant and consequential changes to the economic substance of the debt and thus resulted in a modification of the debt and not an extinguishment of the debt. Long-term debt consisted of the following at June 30, 2024 and December 31, 2023: Schedule of Long-term Debt June 30, December 31, Note payable $ 100,000,000 $ 35,000,000 Add: Final fee 4,500,000 - Add: PIK interest (added to principal) 87,676 2,565,660 Less: unamortized debt issuance costs (2,089,840 ) (480,810 ) Less: unamortized debt discount (6,304,664 ) (49,439 ) Total long-term debt $ 96,193,172 $ 37,035,411 Future principal payments, including the incurred PIK interest and final fee, are as follows: Schedule of Long Term Debt Future Principal Payments Years Ending December 31, 2027 $ 30,461,467 2028 52,219,657 2029 21,906,552 Total $ 104,587,676

Basis of Presentation, Summar_2

Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited financial statements include the accounts of the Company and have been prepared in accordance with Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, as permitted by Article 10, the unaudited financial statements do not include all of the information required by accounting principles generally accepted in the United States (“U.S. GAAP”). The balance sheet at December 31, 2023 was derived from the audited financial statements at that date and does not include all the disclosures required by U.S. GAAP. In the opinion of management, all adjustments which are of a normal recurring nature and necessary for a fair presentation have been reflected in the financial statements. These unaudited condensed financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2023 and the related footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period.
Accounting Estimates	Accounting Estimates Management uses estimates and assumptions in preparing these unaudited condensed 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 material. Significant items subject to such estimates and assumptions include the valuation of stock-based compensation and prepaid or accrued clinical trial costs.
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 diagnostic tests, ability to obtain regulatory approval of its diagnostic tests, the clinical and commercial success of its initial drug product, gedatolisib, 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.
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.

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Potentially-Dilutive Shares Excluded from 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 Diluted Weighted-Average Shares Outstanding June 30, 2024 2023 Preferred stock on an as-if-converted to common stock basis 3,175,770 10,858,730 Options to purchase common stock 3,266,969 2,185,567 Warrants to purchase common stock 5,600,234 7,266,102 Restricted common stock 1,079 1,958 Total 12,044,052 20,312,357

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2024
Investments, All Other Investments [Abstract]
Schedule of Investment	The following tables summarize the Company’s held-to-maturity investment securities at amortized cost as of June 30, 2024 and December 31, 2023: Schedule of Investment June 30, 2024 Amortized Cost, Gross Gross Estimated U.S. Treasury Bills $ 252,609,622 $ 5,271 $ - $ 252,614,893 Total $ 252,609,622 $ 5,271 $ - $ 252,614,893 December 31, 2023 Amortized Cost, Gross Gross Estimated U.S. Treasury Bills $ 149,919,974 $ 30,995 $ - $ 149,950,969 Total $ 149,919,974 $ 30,995 $ - $ 149,950,969

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Options Activity	The following table summarizes the activity for all stock options outstanding for the six months ended June 30: Schedule of Stock Options Activity 2024 2023 Shares Weighted Shares Weighted Options outstanding at beginning of year 2,815,392 $ 7.95 1,976,586 $ 6.34 Granted 552,179 15.77 310,798 10.74 Exercised (52,747 ) 6.35 (45,208 ) 5.34 Forfeited (47,855 ) 10.19 (56,609 ) 7.67 Balance at June 30 3,266,969 $ 9.27 2,185,567 $ 6.96 Options exercisable at June 30: 1,710,917 $ 6.80 1,346,587 $ 5.97 Weighted Average Grant Date Fair Value for options granted during the period: $ 10.83 $ 7.42
Schedule of Stock Options Outstanding and Exercisable	The following table summarizes additional information about stock options outstanding and exercisable at June 30, 2024: Schedule of Stock Options Outstanding and Exercisable Options Outstanding Options Exercisable Options Weighted Weighted Aggregate Options Weighted Aggregate 3,266,969 7.84 $ 9.27 $ 23,463,751 1,710,917 $ 6.80 $ 16,452,728
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 six months ended June 30: Schedule of Assumptions for Fair Value of Equity-based Awards 2024 2023 Risk-free interest rate 3.94 4.71 % 3.41 4.14 % Expected volatility 74.8 76.10 % 78.0 79.8 % Expected life (years) 5.25 6.09 5.25 6.08 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 June 30, 2024: Schedule of Unrecognized Compensation Cost 2024 $ 2,883,195 2025 4,356,405 2026 3,048,001 2027 2,065,139 2028 244,019 Total estimated compensation cost to be recognized $ 12,596,759
Schedule of Stock-based Compensation Expenses	The Company recognized total stock-based compensation expense as follows for the three and six months ended June 30: Schedule of Stock-based Compensation Expenses 2024 2023 2024 2023 Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Stock-based compensation expense in operating expenses: Research and development $ 978,037 $ 639,511 $ 1,810,216 $ 1,293,982 General and administrative 432,475 637,471 931,642 1,256,282 Total $ 1,410,512 $ 1,276,982 $ 2,741,858 $ 2,550,264

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consisted of the following at June 30, 2024 and December 31, 2023: Schedule of Long-term Debt June 30, December 31, Note payable $ 100,000,000 $ 35,000,000 Add: Final fee 4,500,000 - Add: PIK interest (added to principal) 87,676 2,565,660 Less: unamortized debt issuance costs (2,089,840 ) (480,810 ) Less: unamortized debt discount (6,304,664 ) (49,439 ) Total long-term debt $ 96,193,172 $ 37,035,411
Schedule of Long Term Debt Future Principal Payments	Future principal payments, including the incurred PIK interest and final fee, are as follows: Schedule of Long Term Debt Future Principal Payments Years Ending December 31, 2027 $ 30,461,467 2028 52,219,657 2029 21,906,552 Total $ 104,587,676

Schedule of Potentially-Dilutiv

Schedule of Potentially-Dilutive Shares Excluded from Diluted Weighted-Average Shares Outstanding (Details) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	12,044,052	20,312,357
Options To Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,266,969	2,185,567
Warrants To Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,600,234	7,266,102
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,079	1,958
Preferred Stock On An As If Converted To Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,175,770	10,858,730

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details Narrative) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pre Funded Warrant [Member]
Class of Warrant or Right [Line Items]
Pre-funded warrant shares	5,747,787	0	5,747,787	0

Schedule of Investment (Details

Schedule of Investment (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss	$ 252,609,622	$ 149,919,974
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Gain	5,271	30,995
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss
Debt Securities, Held-to-Maturity, Fair Value	252,614,893	149,950,969
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	252,609,622	149,919,974
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Gain	5,271	30,995
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss
Debt Securities, Held-to-Maturity, Fair Value	$ 252,614,893	$ 149,950,969

Commitments (Details Narrative)

Commitments (Details Narrative) $ in Millions	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Non-cancelable contractual commitment	$ 1.8

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - USD ($)											6 Months Ended
	Jun. 26, 2024	May 31, 2024	May 30, 2024	May 08, 2024	Apr. 22, 2024	Mar. 26, 2024	Mar. 19, 2024	Mar. 15, 2024	Mar. 14, 2024	Jan. 15, 2024	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Common stock, shares authorized											65,000,000			65,000,000
Common stock, par value											$ 0.001			$ 0.001
Common stock, shares outstanding											37,014,751			25,506,012
Preferred stock, shares authorized											2,500,000			2,500,000
Preferred stock, par value											$ 0.001			$ 0.001
Preferred stock, shares outstanding											317,577			854,134
Additional warrants exercised								1,739,080			19,390		3,683
Class of warrant exercise price								$ 8.05
Proceeds from warant exercise								$ 14,000,000			$ 14,182,137
Declared Dividend											$ 0
Open Market Sale Agreement [Member]
Class of Stock [Line Items]
Commissions and other offering expenses				$ 300,000
Open Market Sale Agreement [Member] | Jefferies LLC [Member]
Class of Stock [Line Items]
Sale of stock number of shares issued in transaction				149,700	285,714
Issuance of public offering price per share				$ 17.65	$ 17.50
Gross proceeds from public offering				$ 2,600,000	$ 5,000,000
Underwriting Agreement [Member] | Leerink Partners LLC [Member]
Class of Stock [Line Items]
Sale of stock number of shares issued in transaction			3,871,000
Issuance of public offering price per share			$ 15.50
Gross proceeds from public offering			$ 60,000,000
Net proceeds from public offering		$ 56,300,000
Several Investors [Member]
Class of Stock [Line Items]
Additional warrants exercised											19,390		3,683
Cash											$ 173,000		$ 9,000
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares converted	87,700	100,000				30,700	43,913		50,000	224,244
Cost basis of shares transferred	$ 5.75	$ 5.75				$ 5.75	$ 5.75		$ 5.75	$ 5.75
Common Stock [Member]
Class of Stock [Line Items]
Number of shares issued in conversion	877,000	1,000,000				307,000	439,130		500,000	2,242,440
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized											1,850,000

Schedule of Stock Options Activ

Schedule of Stock Options Activity (Details) - Share-Based Payment Arrangement, Option [Member] - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Offsetting Assets [Line Items]
Options outstanding at beginning of year	2,815,392	1,976,586
Options outstanding, weighted average exercise price at beginning of year	$ 7.95	$ 6.34
Shares, Granted	552,179	310,798
Weighted Average Exercise Price, Granted	$ 15.77	$ 10.74
Shares, Exercised	(52,747)	(45,208)
Weighted Average Exercise Price, Exercised	$ 6.35	$ 5.34
Shares, Forfeited	(47,855)	(56,609)
Weighted Average Exercise, Forfeited	$ 10.19	$ 7.67
Options outstanding at end of year	3,266,969	2,185,567
Options outstanding, weighted average exercise price at end of year	$ 9.27	$ 6.96
Shares, options exercisable	1,710,917	1,346,587
Weighted Average Exercise Price, Options exercisable	$ 6.80	$ 5.97
Weighted Average Grant Date Fair Value for options granted during the period	$ 10.83	$ 7.42

Schedule of Stock Options Outst

Schedule of Stock Options Outstanding and Exercisable (Details) - Share-Based Payment Arrangement, Option [Member]	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options outstanding | shares	3,266,969
Options outstanding, weighted average remaining contractual life	7 years 10 months 2 days
Options outstanding, weighted average exercise price | $ / shares	$ 9.27
Options outstanding, aggregate intrinsic value | $	$ 23,463,751
Options exercisable | shares	1,710,917
Options exercisable, weighted average exercise price | $ / shares	$ 6.80
Options exercisable, aggregate intrinsic value | $	$ 16,452,728

Schedule of Assumptions for Fai

Schedule of Assumptions for Fair Value of Equity-based Awards (Details)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate, minimum	3.94%	3.41%
Risk-free interest rate, maximum	4.71%	4.14%
Expected volatility, minimum	74.80%	78%
Expected volatility, maximum	76.10%	79.80%
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
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected life (years)	6 years 1 month 2 days	6 years 29 days

Schedule of Unrecognized Compen

Schedule of Unrecognized Compensation Cost (Details)	Jun. 30, 2024 USD ($)
Share-Based Payment Arrangement [Abstract]
2024	$ 2,883,195
2025	4,356,405
2026	3,048,001
2027	2,065,139
2028	244,019
Total estimated compensation cost to be recognized	$ 12,596,759

Schedule of Stock-based Compens

Schedule of Stock-based Compensation Expenses (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 1,410,512	$ 1,276,982	$ 2,741,858	$ 2,550,264
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	978,037	639,511	1,810,216	1,293,982
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 432,475	$ 637,471	$ 931,642	$ 1,256,282

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative) - USD ($)					3 Months Ended		6 Months Ended
	May 12, 2022	May 12, 2021	May 10, 2018	Oct. 25, 2017	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	May 09, 2024	Jan. 01, 2024	May 11, 2023	Jan. 01, 2023	May 31, 2022	Jan. 01, 2022	Dec. 31, 2021	Jan. 01, 2021	May 31, 2020
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					$ 26,692	$ 37,690	$ 53,411	$ 77,302
Remaining stock based compensation expense related to modification							110,000
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					15,763	16,920	31,527	33,844
Remaining stock based compensation expense related to modification							66,000
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					$ 0	6,826	696	13,934
Remaining stock based compensation expense related to modification							$ 0
2017 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares reserved for issuance				750,000					3,000,000		1,500,000
Change in common stock, shares reserved for issuance										255,060		216,673		149,189		102,998
Stock option description				increase automatically on January 1 of each year from 2025 through 2027 by the number of shares equal to 1.0% of the aggregate number of outstanding shares of Company common stock as of the immediately preceding December 31. However, the Company’s board may reduce the amount of the increase in any particular year.
Additional shares authorized under plan	500,000	500,000
Total common stock, shares reserved for issuance	1,000,000	1,000,000
Shares available for grant under the 2017 Plan					2,267,956		2,267,956
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Recognized stock-based compensation expense					$ 1,329,807	1,228,284	$ 2,619,999	2,450,612
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Recognized stock-based compensation expense					$ 8,475	$ 4,052	$ 13,325	$ 8,694
Restricted stock awards outstanding					1,079	1,958	1,079	1,958
Restricted stock awards vested					1,958	3,273
Employee Stock Purchase Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Recognized stock-based compensation expense					$ 72,230	$ 44,646	$ 108,534	$ 90,958
Common stock, shares reserved for issuance			100,000
Change in common stock, shares reserved for issuance										127,530		108,337		74,594		51,499
Stock option description			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.
Shares available for issuance					373,739		373,739

Schedule of Long-term Debt (Det

Schedule of Long-term Debt (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Note payable	$ 100,000,000	$ 35,000,000
Add: Final fee	4,500,000
Add: PIK interest (added to principal)	87,676	2,565,660
Less: unamortized debt issuance costs	(2,089,840)	(480,810)
Less: unamortized debt discount	(6,304,664)	(49,439)
Total long-term debt	$ 96,193,172	$ 37,035,411

Schedule of Long Term Debt Futu

Schedule of Long Term Debt Future Principal Payments (Details)	Jun. 30, 2024 USD ($)
Debt Disclosure [Abstract]
2027	$ 30,461,467
2028	52,219,657
2029	21,906,552
Total	$ 104,587,676

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)	May 30, 2024	Jun. 30, 2024	Mar. 15, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Final fee		$ 4,500,000
Warrants exercise price per share			$ 8.05
Amended And Restated Loan Agreement [Member]
Debt Instrument [Line Items]
Debt instrument interest rate description	The Company is entitled to make interest-only payments for thirty-six months, or up to forty-eight months if certain conditions are met. The Term Loans will mature on May 1, 2029 and will bear interest at a rate equal to the sum of (a) the greater of (i) the Prime Rate (as defined in the A&R Loan Agreement) or (ii) 7.75%, plus (b) 2.85%, provided that 1.0% of such interest will be payable in-kind by adding an amount equal to such 1.0% of the outstanding principal amount to the then outstanding principal balance on a monthly basis through May 31, 2027.
Amended And Restated Loan Agreement [Member] | Innovatus Life Sciences [Member]
Debt Instrument [Line Items]
Funded loan amount	$ 100
New borrowings	$ 2,400,000
Final fee percentage	4.50%
Final fee	$ 4,500,000
Term loan percentage	2.50%
Amended And Restated Loan Agreement [Member] | Innovatus Life Sciences [Member] | Warrant [Member]
Debt Instrument [Line Items]
Warrants issued	103,876
Warrants exercise price per share	$ 14.84
Fair value of warrants	$ 1,200,000
Amended And Restated Loan Agreement [Member] | Innovatus Life Sciences [Member] | Term A Loan [Member]
Debt Instrument [Line Items]
Funded loan amount	$ 16,800,000
Loan conversion percentage	20%
Common stock price per share	$ 10
Amended And Restated Loan Agreement [Member] | Innovatus Life Sciences [Member] | Term B Loan [Member]
Debt Instrument [Line Items]
Funded loan amount	$ 21,500,000
Amended And Restated Loan Agreement [Member] | Innovatus Life Sciences [Member] | Term C Loan [Member]
Debt Instrument [Line Items]
Funded loan amount	61,700,000
Amended And Restated Loan Agreement [Member] | Innovatus Life Sciences [Member] | Term D Loan [Member]
Debt Instrument [Line Items]
Funded loan amount	30,000,000
Non utilization fee	900,000
Amended And Restated Loan Agreement [Member] | Innovatus Life Sciences [Member] | Term E Loan [Member]
Debt Instrument [Line Items]
Funded loan amount	50,000,000
Non utilization fee	1,500,000
Amended And Restated Loan Agreement [Member] | Innovatus Life Sciences [Member] | Term F Loan [Member]
Debt Instrument [Line Items]
Funded loan amount	45,000,000
Amended And Restated Loan Agreement [Member] | Innovatus Life Sciences [Member] | Maximum [Member]
Debt Instrument [Line Items]
Funded contingent loan, outstanding	$ 180,000,000
Prior Loan Agreement [Member] | Innovatus Life Sciences [Member]
Debt Instrument [Line Items]
Common stock price per share	$ 14.40
Common stock issued	26,042