MetaVia (MTVA) 10-Q 14 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 09, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-37809
Entity Registrant Name	NeuroBo Pharmaceuticals, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-2389984
Entity Address, Address Line One	545 Concord Avenue, Suite 210
Entity Address, City or Town	Cambridge,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02138
City Area Code	857
Local Phone Number	702-9600
Title of 12(b) Security	Common stock, $0.001 par value
Trading Symbol	NRBO
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		8,459,196
Entity Central Index Key	0001638287
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 27,934	$ 22,435
Prepaid expenses and other current assets	583	77
Total current assets	28,517	22,512
Property and equipment, net	44	46
Right-of-use asset	169	202
Other assets	21	21
Total assets	28,751	22,781
Current liabilities:
Accounts payable	2,632	821
Clinical trial accrued liabilities	2,066	3,033
Accrued expenses and other current liabilities	463	592
Warrant liabilities	861	658
Related party payable	$ 3,617	$ 789
Other Liability, Current, Related Party [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Lease liability, short-term	$ 72	$ 67
Total current liabilities	9,711	5,960
Lease liability, long-term	98	136
Total liabilities	9,809	6,096
Commitments and contingencies (Note 7)
Stockholders' equity
Preferred stock, $0.001 par value per share; 10,000 shares authorized as of June 30, 2024 and December 31, 2023; no shares issued or outstanding as of June 30, 2024 and December 31, 2023
Common stock, $0.001 par value per share, 100,000 shares authorized as of June 30, 2024 and December 31, 2023; 8,221 and 4,906 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	8	5
Additional paid-in capital	143,966	124,945
Accumulated deficit	(125,032)	(108,265)
Total stockholders' equity	18,942	16,685
Total liabilities and stockholders' equity	$ 28,751	$ 22,781

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2024	Dec. 31, 2023
Condensed Consolidated Balance Sheets
Preferred stock, par value (in dollar per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollar per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	8,221	4,906
Common stock, shares outstanding	8,221	4,906

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating expenses:
Research and development	$ 8,074	$ 2,364	$ 12,978	$ 3,001
General and administrative	2,010	1,442	3,987	3,325
Total operating expenses	10,084	3,806	16,965	6,326
Loss from operations	(10,084)	(3,806)	(16,965)	(6,326)
Other income (expense):
Change in fair value of warrant liabilities	(133)	3,072	(203)	2,988
Interest income	164		401
Total other income	31	3,072	198	2,988
Loss before income taxes	(10,053)	(734)	(16,767)	(3,338)
Provision for income taxes	0	0	0	0
Net loss	(10,053)	(734)	(16,767)	(3,338)
Comprehensive net loss	$ (10,053)	$ (734)	$ (16,767)	$ (3,338)
Loss per share:
Loss per share of common stock, basic (in dollars per share)	$ (1.85)	$ (0.15)	$ (3.19)	$ (0.66)
Loss per share of common stock, diluted (in dollars per share)	$ (1.85)	$ (0.15)	$ (3.19)	$ (0.66)
Weighted average shares of common stock outstanding:
Basic (in shares)	5,428,906	5,059,003	5,259,939	5,059,003
Diluted (in shares)	5,428,906	5,059,003	5,259,939	5,059,003

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Series A and Series B Pre-funded Warrant Common Stock	Series A and Series B Pre-funded Warrant Additional Paid-in Capital	Series A and Series B Pre-funded Warrant	Common Stock	Additional Paid-in Capital Private Placement	Additional Paid-in Capital	Accumulated Deficit	Private Placement	Total
Balance at beginning of period at Dec. 31, 2022				$ 3		$ 117,542	$ (95,795)		$ 21,750
Balance at beginning of period (shares) at Dec. 31, 2022				3,179
Increase (Decrease) in Stockholders' Equity
Issuance of stock from exercise of warrants						1,436			1,436
Issuance of stock from exercise of warrants (in shares)				218
Stock-based compensation						(74)			(74)
Net loss							(2,604)		(2,604)
Balance at end of period at Mar. 31, 2023				$ 3		118,904	(98,399)		20,508
Balance at end of period (shares) at Mar. 31, 2023				3,397
Balance at beginning of period at Dec. 31, 2022				$ 3		117,542	(95,795)		21,750
Balance at beginning of period (shares) at Dec. 31, 2022				3,179
Increase (Decrease) in Stockholders' Equity
Issuance of stock from exercise of warrants									6,833
Net loss									(3,338)
Balance at end of period at Jun. 30, 2023				$ 5		124,324	(99,133)		25,196
Balance at end of period (shares) at Jun. 30, 2023				4,780
Balance at beginning of period at Mar. 31, 2023				$ 3		118,904	(98,399)		20,508
Balance at beginning of period (shares) at Mar. 31, 2023				3,397
Increase (Decrease) in Stockholders' Equity
Issuance of stock from exercise of warrants				$ 2		5,396			5,398
Issuance of stock from exercise of warrants (in shares)				1,383
Stock-based compensation						24			24
Net loss							(734)		(734)
Balance at end of period at Jun. 30, 2023				$ 5		124,324	(99,133)		25,196
Balance at end of period (shares) at Jun. 30, 2023				4,780
Balance at beginning of period at Dec. 31, 2023				$ 5		124,945	(108,265)		16,685
Balance at beginning of period (shares) at Dec. 31, 2023				4,906
Increase (Decrease) in Stockholders' Equity
Stock-based compensation						105			105
Net loss							(6,714)		(6,714)
Balance at end of period at Mar. 31, 2024				$ 5		125,050	(114,979)		10,076
Balance at end of period (shares) at Mar. 31, 2024				4,906
Balance at beginning of period at Dec. 31, 2023				$ 5		124,945	(108,265)		16,685
Balance at beginning of period (shares) at Dec. 31, 2023				4,906
Increase (Decrease) in Stockholders' Equity
Net loss									(16,767)
Balance at end of period at Jun. 30, 2024				$ 8		143,966	(125,032)		18,942
Balance at end of period (shares) at Jun. 30, 2024				8,221
Balance at beginning of period at Mar. 31, 2024				$ 5		125,050	(114,979)		10,076
Balance at beginning of period (shares) at Mar. 31, 2024				4,906
Increase (Decrease) in Stockholders' Equity
Issuance of common stock and warrants (Pre-funded, Series A and Series B), net of issuance costs	$ 3	$ 18,473	$ 18,476
Issuance of common stock and warrants (Pre-funded, Series A and Series B), net of issuance costs (in shares)	3,308
Issuance of Placement Agent warrants					$ 309			$ 309
Issuance of stock for vested restricted stock units (in shares)				7
Stock-based compensation						134			134
Net loss							(10,053)		(10,053)
Balance at end of period at Jun. 30, 2024				$ 8		$ 143,966	$ (125,032)		$ 18,942
Balance at end of period (shares) at Jun. 30, 2024				8,221

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) $ in Thousands	3 Months Ended
	Jun. 30, 2024 USD ($)
Series A and Series B Pre-funded Warrant
Stock and warrants issuance costs	$ 1,522

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating activities
Net loss	$ (734)	$ (16,767)	$ (3,338)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation		239	(50)
Non-cash lease expense		1
Depreciation		10	1
Change in fair value of warrant liabilities	(3,072)	203	(2,988)
Change in operating assets and liabilities:
Prepaid expenses and other assets		(507)	(318)
Accounts payable		1,396	260
Accrued and other liabilities		1,732	1,841
Net cash used in operating activities		(13,693)	(4,592)
Investing activities
Purchases of property and equipment		(8)	(4)
Net cash used in investing activities		(8)	(4)
Financing activities
Proceeds from issuance of common stock and pre-funded warrants		19,998
Payments of issuance costs		(798)	(80)
Net cash provided by (used in) financing activities		19,200	(80)
Net increase (decrease) in cash		5,499	(4,676)
Cash at beginning of period		22,435	33,364
Cash at end of period	28,688	27,934	28,688
Supplemental non-cash investing and financing transactions:
Unpaid issuance costs		$ 415
Reclassification of warrant liabilities upon exercise of warrants	$ 5,398		$ 6,833

Business, basis of presentation

Business, basis of presentation, new accounting standards and summary of significant accounting policies	6 Months Ended
	Jun. 30, 2024
Business, basis of presentation, new accounting standards and summary of significant accounting policies
Business, basis of presentation, new accounting standards and summary of significant accounting policies	1. Business, basis of presentation, new accounting standards and summary of significant accounting policies General NeuroBo Pharmaceuticals, Inc. (the “Company”), a Delaware corporation, and its subsidiaries are referred to collectively in these notes to the condensed consolidated financial statements of the Company as “NeuroBo,” “we,” “our” and “us.” We are a clinical-stage biotechnology company focused primarily on cardiometabolic diseases. NeuroBo has two programs currently focused on treatment of metabolic dysfunction-associated steatohepatitis (“MASH”) and obesity. MASH was formerly known as non-alcoholic steatohepatitis. The American Association for the Study of Liver Diseases and its European and Latin American counterparts changed the name to metabolic dysfunction-associated steatohepatitis to reflect the complexity of the disease. ● DA-1241 is a novel G-Protein-Coupled Receptor 119 (“GPR119”) agonist with development optionality as a standalone and/or combination therapy for both MASH and type 2 diabetes. Agonism of GPR119 in the gut promotes the release of key gut peptides, glucagon-like peptide 1 (“GLP-1”), glucagon-dependent insulinotropic polypeptide receptor, and peptide YY. These peptides play a further role in glucose metabolism, lipid metabolism and weight loss. DA-1241 has beneficial effects on glucose, lipid profile and liver inflammation, supported by potential efficacy demonstrated during in vivo preclinical studies. ● DA-1726 is a novel oxyntomodulin analogue functioning as a GLP-1 receptor (“GLP1R”) and glucagon receptor (“GCGR”) dual agonist for the treatment of obesity that is to be administered once weekly subcutaneously. DA-1726 acts as a dual agonist of GLP1R and GCGR. While we primarily focus our financial resources and management’s attention on the development of DA-1241 and DA-1726, we also have four legacy therapeutic programs designed to impact a range of indications in viral, neurodegenerative and cardiometabolic diseases which we continue to consider for out-licensing and divestiture opportunities . Our operations have consisted principally of performing research and development (“R&D”) activities, which includes preclinical developments and clinical trials, and raising capital. Our activities are subject to significant risks and uncertainties, including failing to secure additional funding before sustainable revenues and profit from operations are achieved. Common stock reverse stock splits In December 2023, we completed a one-for-eight reverse stock split of our common stock (the “2023 Reverse Stock Split”). As a result, every eight shares of our issued and outstanding common stock were combined, converted and changed into one share of our common stock. Any fraction of a share of our common stock that was created as a result of the 2023 Reverse Stock Split was rounded down to the next whole share and our stockholders received cash equal to the market value of the fractional share, determined by multiplying such fraction by the closing sales price of our common stock as reported on the on the last trading day before the 2023 Reverse Stock Split. The 2023 Reverse Stock Split was initially approved by our stockholders at the annual meeting of stockholders in J The 2023 Reverse Stock Split did not impact the number of authorized shares of common stock of 100,000,000 shares. For the 2023 Reverse Stock Split, a proportionate adjustment was made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding stock options, and warrants to purchase shares of our common stock, the number of shares issuable upon vesting of restricted stock units (“RSUs”) and the number of shares reserved for issuance pursuant to our equity incentive compensation plans. Specifically, for the Series A Warrants and Series B Warrants issued in November 2022 that were outstanding on the effective date of the 2023 Reverse Stock Split, the number of outstanding warrants did not change; instead, the warrants have an In the accompanying condensed consolidated financial statements and these notes to the condensed consolidated financial statements, all historical numbers of shares of common stock and per share data have been adjusted to give effect to the 2023 Reverse Stock Split. Additionally, since the common stock par value was unchanged, historical amounts for common stock and additional paid-in capital have been adjusted to give effect to the 2023 Reverse Stock Split. Going concern The determination as to whether we can continue as a going concern contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. have been prepared assuming that we will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty. This basis of accounting contemplates the recovery of our assets and the satisfaction of our liabilities in the normal course of business. As reflected in the condensed consolidated financial statements, we had $27.9 million in cash as of June 30, 2024. We have experienced net losses and negative cash flows from operating activities since our inception and had an accumulated deficit of $125.0 million as of June 30, 2024. We have incurred a net loss of $16.8 million and net cash used of $13.7 million for operating activities for the six months ended June 30, 2024. Due in large part to the ongoing Phase 2a clinical trial for DA-1241 and Phase 1 clinical trial for DA-1726, we expect to continue to incur net losses and negative cash flows from operating activities for the foreseeable future. These conditions raise substantial doubt about our ability to continue as a going concern. We believe that our existing cash will be sufficient to fund our operations into the second quarter of 2025. Our existing cash includes gross proceeds of $20.0 million, of which $10.0 million was received from Dong-A ST Co., Ltd., a related party (“Dong-A”), in connection with the closing of the Offering (as defined below) in June 2024. We plan to continue to fund our operations through a combination of proceeds of (i) up to $20.0 million from the potential future exercise of Series A Warrants issued in the Offering before deducting for certain issuance costs, such as placement agent fees and expenses and (ii) from equity offerings, debt financings, or other sources, potentially including collaborations, out-licensing and other similar arrangements. If the Series A Warrants issued in the June 2024 Offering are exercised, we believe that the additional gross proceeds to us from such exercises would be sufficient to fund our operations into 2026. There can be no assurance that we will be able to obtain any sources of financing on acceptable terms, or at all, or that the Series A Warrants will be exercised. To the extent that we can raise additional funds by issuing equity securities or in the event our existing warrants are exercised, our stockholders may experience significant dilution. Any debt financing, if available, may involve restrictive covenants that impact our ability to conduct our business. If we are unable to raise additional capital, we may slow down or stop our ongoing and planned clinical trials until such time as additional capital is raised and this may have a material adverse effect on us. A. Basis of presentation We prepared the condensed consolidated financial statements following the requirements of the United States (“U.S.”) Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by accounting principles generally accepted in the U.S. (“GAAP”) for complete financial statements can be condensed or omitted. However, except as disclosed herein, there has been no material change in the information disclosed in the notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (“2023 Form 10-K”). Revenues, expenses, assets, liabilities, and equities can vary during each quarter of the year. Therefore, the results and trends in these condensed consolidated financial statements may not be representative of those for the full year. In our opinion, all adjustments necessary for a fair statement of the condensed consolidated financial statements, which are of a normal and recurring nature, have been made for the interim periods reported. The information included in the condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our 2023 Form 10-K. Certain amounts in the condensed consolidated financial statements and accompanying notes may not add due to rounding, and all percentages have been calculated using unrounded amounts. B. New accounting standards Adoption of new accounting standards New accounting standards or accounting standards updates were assessed and determined to be either not applicable or did not have a material impact on our condensed consolidated financial statements or processes. Accounting standards issued but not yet adopted In December 2023, the Financial Accounting Standards Board issued Other recently issued accounting standards not yet adopted by us are not expected, upon adoption, to have a material impact on our condensed consolidated financial statements. C. Estimates and assumptions The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expenses, and related disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. The most significant estimates in our consolidated financial statements relate to accrued expenses and the fair value of stock-based compensation and warrants. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. Changes in estimates are reflected in reported results in the period in which they become known. D. Significant accounting policies Our significant accounting policies are described in “Note 1. Business, basis of presentation, new accounting standards and summary of significant accounting policies” in the audited consolidated financial statements and notes thereto for the year ended December 31, 2023, which is inc E. R eclassification of prior year presentation Certain prior year amounts have been reclassified for consistency with the current year presentation. Adjustments have been made to the condensed consolidated balance sheets to reclassify the presentation of certain current liabilities related to clinical trial accrued liabilities of $3.0 million and related party payable of $0.8 million from accrued expenses and other current liabilities. These reclassifications had no effect on the reported total current liabilities in the condensed consolidated balance sheets.

Prepaid expenses and other curr

Prepaid expenses and other current assets	6 Months Ended
	Jun. 30, 2024
Prepaid expenses and other current assets
Prepaid expenses and other current assets	2. Prepaid expenses and other current assets Prepaid expenses and other current assets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ June 30, 2024 ​ December 31, 2023 Insurance ​ $ 313 ​ $ — Deposits ​ ​ 111 ​ ​ 39 Other prepaid expenses ​ 159 ​ 38 Total ​ $ 583 ​ $ 77 ​

Property and equipment, net

Property and equipment, net	6 Months Ended
	Jun. 30, 2024
Property and equipment, net
Property and equipment, net	3. Property and equipment, net Property and equipment, net consist of the following (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ June 30, 2024 ​ December 31, 2023 Office equipment ​ $ 88 ​ $ 80 Less accumulated depreciation ​ (44) ​ (34) Property and equipment, net ​ $ 44 ​ $ 46 ​

Accrued expenses and other curr

Accrued expenses and other current liabilities	6 Months Ended
	Jun. 30, 2024
Accrued expenses and other current liabilities
Accrued expenses and other current liabilities	4. Accrued expenses and other current liabilities Accrued expenses and other current liabilities consist of the following (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ June 30, 2024 ​ December 31, 2023 Employee related costs ​ $ 403 ​ $ 118 Professional service fees ​ ​ 45 ​ ​ 308 Other ​ 15 ​ 166 Total ​ $ 463 ​ $ 592 ​

Warrant liabilities

Warrant liabilities	6 Months Ended
	Jun. 30, 2024
Warrant liabilities
Warrant liabilities	5. Warrant liabilities Changes to our warrant liabilities are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ Total As of January 1, 2024 ​ $ 658 Fair value changes ​ ​ 203 As of June 30, 2024 ​ $ 861 ​ Our warrant liabilities relate to the 2022 Series A Warrants and 2022 Series B Warrants, which were issued in November 2022. These warrants are considered to be derivative instruments; accordingly, we recorded their estimated fair value as warrant liabilities. We estimated the fair value of these warrants using the trading market price of our common stock due to a cashless exercise provision of these warrants whereby eight warrants can be exchanged for one share of common stock for no additional consideration, which results in an effective per warrant exercise price of zero.

Related party

Related party	6 Months Ended
	Jun. 30, 2024
Related party
Related party	6 . Related party We entered into a license agreement with Dong-A pursuant to which we received an exclusive global license (except for the territory of the Republic of Korea) for two proprietary compounds for specified indications (the “2022 License Agreement”) upon meeting certain financing milestones. The 2022 License Agreement covers the rights to DA-1241 for treatment of MASH and DA-1726 for treatment of obesity and MASH. The 2022 License Agreement also provides that we may develop DA-1241 for the treatment of type 2 diabetes mellitus In connection with the 2022 License Agreement, we entered into a shared services agreement with Dong-A (the “Shared Services Agreement”), relating to DA-1241 and DA-1726, pursuant to which Dong-A may provide technical support, preclinical development, and clinical trial support services on terms and conditions acceptable to both parties. In addition, the Shared Services Agreement provides that Dong-A will manufacture all of our clinical requirements of DA-1241 and DA-1726 under the terms provided in the Shared Services Agreement. We incurred R&D expenses of $3.4 million and $3.6 million for the three and six months ended June 30, 2024, respectively, and $1.5 million and $1.8 million for the three and six months ended June 30, 2023, respectively, under the Shared Services Agreement, which are included in operating expenses: research and development in the accompanying condensed consolidated statements of op e have an aggregate payable to Dong-A of $3.6 million and $0.8 million as of June 30, 2024 and December 31, 2023, respectively, under the Shared Services Agreement, which are included in related party payable in the accompanying condensed consolidated balance sheets. For additional information on the 2022 License Agreement, the Shared Service Agreement and other agreements with Dong-A, refer to “Note 5. Related party” in the audited consolidated financial statements and notes thereto for the year ended December 31, 2023, which is included in our 2023 Form 10-K.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies
Commitments and Contingencies	7. Commitments and contingencies Operating lease In August 2023, we entered into a non-cancelable operating lease for our new corporate headquarters in Cambridge, Massachusetts. The initial lease term is for three years with an option to renew for an additional two-year term. The lease commenced in September 2023 and expires in August 2026. We recorded lease rental expense of $ 22 thousand and $ 44 thousand for the three and six months ended June 30, 2024, respectively, and we made cash lease payments of $ 21 thousand and $43 thousand during the three and six months ended June 30, 2024. Our lease liability, which represents the net present value of future lease payments, was calculated utilizing a discount rate of 11%, which corresponds to our estimated incremental borrowing rate. Additionally, we had short-term operating leases for our former corporate headquarters located in Boston, Massachusetts and such lease was terminated in January 2024. For our former corporate headquarters, no rental expenses were recorded for the three months and six months ended June 30, 2024, and we recorded rental expense of $6 thousand and $11 thousand for the three and six months ended June 30, 2023, respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity
Stockholders' Equity	8. Stockholders’ equity June 2024 offering Securities purchase agreements In June 2024, we entered into and closed on two securities purchase agreements (the “Offering”) with an institutional accredited investor and Dong-A, and (the “Pre-Funded Warr tively, the Series A Warrants and the Series B Warrants are referred to as “PIPE Common Warrants.” Of the total shares of common stock issued in the Offering, effective shelf registration statement on Form S-3 (Registration No. 333-278646), initially filed with and declared effective by the SEC in April 2024, and a prospectus supplement filed with the SEC in June 2024. The Pre-Funded Warrant has an exercise price of $0.001 per share and is immediately exercisable and will expire when exercised in full and the PIPE Common Warrants have an exercise price of $3.93 per share and will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the warrants (the “Stockholder Approval”). We are currently planning to hold a Special Meeting of Stockholders in September 2024 to seek Stockholder Approval for certain warrants issued in connection with the Offering. Additionally, prior to the closing of the Offering in June 2024, we received a letter agreement from Dong-A whereby Dong-A irrevocably agreed to vote all of the shares of Company’s voting stock over which Dong-A have voting control in favor of any resolution presented to the stockholders of the Company related to the Stockholder Approval. The Series A Warrants will expire on the earlier of the twelve month anniversary of the Stockholder Approval and within 60 days following the public announcement of the Company receiving positive Phase 1 multiple ascending dose (“MAD”) data readout for DA-1726, and the Series B Warrants will expire on the earlier of the five years anniversary of the Stockholder Approval and within six months following the public announcement of the Company receiving positive Phase 1 Part 3 data readout for DA-1726. Based on the terms of the PIPE Common Warrants, we have concluded that the accounting classification of the PIPE Common Warrants is to be stockholders’ equity Under the terms of the Pre-Funded Warrants and the PIPE Common Warrants issued to the institutional accredited investor, we may not affect the exercise of any such Pre-Funded Warrant or PIPE Common Warrants, and the holder will not be entitled to exercise any portion of any Pre-Funded Warrant or PIPE Common Warrants, 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) would exceed 9.99% (in the case of the Pre-Funded Warrants) or 4.99% (in the case of the PIPE Common Warrants) of the number of shares of the Company’s outstanding common stock immediately after giving effect to the exercise (the “Beneficial Ownership Limitation”), as such percentage ownership is calculated in accordance with Section 13(d) of the Exchange Act and the applicable regulations of the SEC. A holder of the Pre-Funded Warrant or PIPE Common Warrants that were issued to the institutional accredited investor may increase or decrease the Beneficial Ownership Limitation to a higher or lower percentage (not to exceed 9.99%), effective 61 days after written notice to us. Any such increase or decrease will apply only to that holder and not to any other holder of the Pre-Funded Warrants or PIPE Common Warrants. Placement agent We paid to the placement agent a cash fee equal to 7.0% of the gross proceeds of the Offering received from a certain institutional investor and $0.1 million for non-accountable expenses and clearing costs. In addition, we issued warrants to the placement agent’s designees (“Placement Agent Warrants”) to purchase up to 127,227 shares of common stock (which represents 5% of the sum of the shares of common stock and Pre-Funded Warrants sold to the institutional investor in the Offering) at an exercise price of $4.9125 per share (which represents a premium of 25% of the offering price per share of common stock in the Offering). The Placement Agent Warrants will be exercisable beginning on the effective date of the Stockholder Approval and will expire on the earlier of (i) two years after the date that the shares of common stock underlying the Placement Agent Warrants are registered pursuant to an effective registration statement filed pursuant to the Securities Act of 1933, as amended, which occurred on July 24, 2024, and (ii) June 23, 2029. The fair value of the Placement Agent Warrants was $0.3 million, which represents a non-cash issuance cost. The weighted average fair value per share of these Placement Agent Warrants was $2.73 , and was determined using the Black-Scholes option pricing model with the following assumptions: expected stock price volatility of 140.0% , expected term of 2.1 years, expected dividend yield of 0% , and risk-free interest rate of 4.63% . Based on the terms of the Placement Agreement Warrants, we have concluded that the accounting classification of the Placement Agent Warrants is stockholders’ equity in the accompanying condensed consolidated balance sheets. Upon the exercise for cash of any PIPE Common Warrants issued to a certain institutional investor, we shall pay the placement agent (i) a cash fee of 7.0% of the aggregate gross exercise price paid in cash with respect thereto and (ii) a non-cash fee in the form of additional warrants to purchase the number of shares of common stock equal to 5.0% of the aggregate number of such shares of common stock underlying such warrants. The cash fee payable to the placement agent for any PIPE Common Warrants exercised by the institutional investor is accounted for as a contingent commitment and will be recorded as an offset to any gross proceeds received from any future exercises of PIPE Common Warrants by the institutional investor. The non-cash fee payable to the placement agent for any PIPE Common Warrants exercised by the institutional investor is accounted for as contingent warrants (“Placement Agent Contingent Warrants”) to purchase up to 318,067 shares of common stock, which is subject to performance criteria of the institutional investor regarding any exercise for cash of any PIPE Common Warrants with an assumed grant date of the Offering closing date, and an exercise price of $4.9125 per share. The weighted average fair value per share of these Placement Agent Contingent Warrants was $3.43 and was determined using the Black-Scholes option pricing model with the following assumptions: expected stock price volatility of 127.0%, expected term of 5.7 years, expected dividend yield of 0%, and risk-free interest rate of 4.31%. Based on the terms of the placement agent engagement letter, we have concluded that the accounting classification of the Placement Agent Contingent Warrants is to be stockholders’ equity. On each balance sheet reporting date, we will need to assess whether it is probable for us to issue warrants to the placement agent based on whether it is probable for any PIPE Common Warrants to be exercised by the institutional investor. As of June 30, 2024, we determined that the issuance of additional warrants to the placement agent is not yet probable; accordingly, the Placement Agent Contingent Warrants had no impact on the condensed consolidated balance sheets. Warrants The following tables summarize our outstanding warrants: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares of Common Stock Issuable ​ ​ ​ ​ ​ ​ for Outstanding Warrants ​ ​ ​ ​ ​ ​ As of ​ Exercise ​ Expiration Warrant Issuance June 30, 2024 ​ December 31, 2023 ​ Price ​ Date July 2018 (1) 6 ​ 6 ​ $ 44,820.0000 ​ July 2028 April 2020 (1) 159 ​ 159 ​ $ 3,000.0000 ​ April 2025 January 2021 (1) 10,421 ​ 10,421 ​ $ 1,447.2000 ​ July 2026 October 2021 (1) 15,390 ​ 15,390 ​ $ 900.0000 ​ April 2025 November 2022 Series B (2) 177,938 ​ 177,938 ​ $ 0.0000 ​ December 2027 June 2024 Placement Agent (3) 127,227 ​ — ​ $ 4.9125 ​ July 2026 June 2024 Pre-Funded (4) 1,781,171 ​ — ​ $ 0.0010 ​ no expiration date June 2024 Series A (5) 5,089,060 ​ — ​ $ 3.9300 ​ September 2025 (latest date) June 2024 Series B (6) 7,633,591 ​ — ​ $ 3.9300 ​ September 2029 (latest date) Total 14,834,963 ​ 203,914 ​ ​ ​ ​ ​ (1) The number of outstanding and exercisable warrants was adjusted for the impact of each of the common stock reverse stock splits completed in 2023 and 2022. Accordingly, the number of outstanding warrants is equal to the number of shares of common stock issuable for outstanding warrants. (2) The number of outstanding and exercisable warrants was not impacted by the 2023 Reverse Stock Split. Accordingly, the number of outstanding warrants is equal to eight times the number of shares of common stock issuable for outstanding warrants. Additionally, during the six months ended June 30, 2023, 6,460,333 Series B warrants were exchanged for 807,541 shares of our common stock. (3) These warrants are exercisable at any time on or after the Stockholder Approval, which is currently planned to be in September 2024, and expire two years after a resale registration statement covering the shares of common stock issuable upon the exercise of the warrants hereunder becomes effective with the SEC. In July 2024, a resale registration statement was filed with the SEC and became effective. (4) These warrants are exercisable immediately upon their issuance in June 2024 and are considered to be perpetual warrants without any expiration date. (5) These warrants are exercisable at any time on or after the Stockholder Approval, which is currently planned to be in September 2024, and expire on the earlier of (i) the twelve months anniversary of the stockholder approval date, and (ii) the 60 th day following the date on which the Company publicly announce the receiving of positive Phase 1 MAD data readout for DA-1726. (6) These warrants are exercisable at any time on or after the Stockholder Approval, which is currently planned to be in September 2024, and expire on the earlier of (i) the five years anniversary of the stockholder approval date and (ii) the six months anniversary following the date on which the Company publicly announce the receiving of positive Phase 1, Part 3 data readout for DA-1726. Additionally, during the six months ended June 30, 2023, 6,345,333 Series A warrants issued in November 2022 were exchanged for 793,167 shares of our common stock. Furthermore, as of December 31, 2023, the Series A warrants issued in November 2022 were fully exchanged for shares of our common stock.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2024
Stock-based compensation
Stock-based compensation	9. Stock-based compensation Stock-based compensation expense was included in general and administrative and research and development as follows (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 General and administrative ​ $ 99 ​ $ 24 ​ $ 170 ​ $ (61) Research and development ​ ​ 36 ​ ​ — ​ ​ 69 ​ ​ 11 Total stock-based compensation ​ $ 135 ​ $ 24 ​ $ 239 ​ $ (50) ​ For stock options and RSUs granted under the 2019 Equity Incentive Plan (the “2019 Plan”), the 2021 Inducement Plan and (the “Inducement Plan”) the 2022 Equity Incentive Plan, as amended (the “2022 Plan”), as of June 30, 2024, unrecognized stock-based compensation cost totaled $0.8 million. The unrecognized stock-based expense is expected to be recognized over a weighted average period of 1.8 years. Stock-based award plans In June 2024, in connection with the 2024 Annual Meeting of Stockholders, our stockholders approved an amendment to our 2022 Plan (the “Amendment”). Pursuant to the terms and conditions of the Amendment, the 2022 Plan was amended to: ● automatically increase on January 1st of each year for a period of eight years commencing on January 1, 2025 and ending on (and including) January 1, 2032, the aggregate number of shares of common stock that may be issued pursuant to Awards (as defined in the 2022 Plan) to an amount equal to 10% of the Fully Diluted Shares (as defined in the 2022 Plan) as of the last day of the preceding calendar year, provided, however that the Board may act prior to the effective date of any such annual increase to provide that the increase for such year will be a lesser number of shares of common stock; and ● increase the aggregate maximum number of shares of common stock that may be issued pursuant to the exercise of Incentive Stock Options (as defined in the 2022 Plan) to 1 million shares of the common stock plus the amount of any increase in the number of shares that may be available for issuance pursuant to the annual increase described above, but in no event more than 15 million shares of the common stock issued as incentive stock options. As of June 30, 2024, there were (i) 1,575 outstanding stock options under the 2019 Plan, and (ii) 3,125 outstanding stock options and 218,113 outstanding RSUs under the 2022 Plan. As of June 30, 2024, we had an aggregate of 385,921 shares available for future issuance, of which 4,166 shares were available under the Inducement Plan and 381,755 shares were available under the 2022 Plan. Stock options The following table summarizes the status of our outstanding and exercisable options and related transactions for the period presented (in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Exercisable ​ ​ Shares of ​ ​ ​ ​ ​ ​ ​ Weighted ​ Shares of ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Common ​ Weighted ​ ​ ​ Average ​ Common ​ Weighted ​ ​ ​ Average ​ ​ Stock ​ Average ​ Aggregate ​ Remaining ​ Stock ​ Average ​ Aggregate ​ Remaining ​ ​ Issuable ​ Exercise ​ Intrinsic ​ Contractual ​ Issuable ​ Exercise ​ Intrinsic ​ Contractual ​ ​ for Options ​ Price ​ Value ​ Term (years) ​ for Options ​ Price ​ Value ​ Term (years) As of January 1, 2024 ​ 4,700 ​ $ 398.30 ​ $ — ​ 8.6 ​ 4,577 ​ $ 391.04 ​ $ — ​ 8.6 Vested ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 59 ​ ​ 689.72 ​ ​ ​ ​ ​ As of June 30, 2024 ​ 4,700 ​ $ 398.30 ​ $ — ​ 8.0 ​ 4,636 ​ $ 394.84 ​ $ — ​ 8.0 ​ During the six months ended June 30 2023, we granted 3,125 stock options and the weighted average fair value per share of these stock options was $3.63. We estimated the grant date fair value of stock options granted to employees, consultants, and directors using the Black-Scholes option pricing model. The assumptions used in the Black-Scholes option-pricing model were as follows: expected stock price volatility of 82.9%, expected term of 5.0 year, expected dividend yield of 0%, and risk-free interest rate of 3.54%. Restricted Stock Units The following table summarizes the status of our RSUs and related transactions for the period presented (in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Vested and Deferred Release ​ ​ Shares of ​ Average ​ ​ ​ Shares of ​ Average ​ ​ ​ ​ Common Stock ​ Grant Date ​ Aggregate ​ Common Stock ​ Grant Date ​ Aggregate ​ ​ Issuable ​ Fair Value ​ Intrinsic ​ Issuable ​ Fair Value ​ Intrinsic ​ ​ for RSUs ​ Price ​ Value ​ for RSUs ​ Price ​ Value As of January 1, 2024 ​ 141,361 ​ $ 4.55 ​ $ 523 ​ 5,469 ​ $ 4.02 ​ $ 20 Granted ​ 83,899 ​ ​ 5.41 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and Deferred Release ​ ​ ​ ​ ​ ​ ​ ​ ​ 1,563 ​ ​ 4.12 ​ ​ ​ Vested and Released ​ (7,147) ​ ​ 4.05 ​ ​ 29 ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2024 ​ 218,113 ​ $ 4.90 ​ $ 1,056 ​ 7,032 ​ $ 4.04 ​ $ 34 ​ We estimated the grant date fair value of restricted stock units granted to employees, consultants and directors based on the closing sales price of our common stock as reported on Nasdaq on the date of grant.

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2024
Income taxes
Income taxes	10. Income taxes We do not expect to pay any significant federal or state income taxes as a result of (i) the losses recorded during the three and six months ended June 30, 2024 and 2023, (ii) additional losses expected for the remainder of 2024 or losses recorded in 2023, or (iii) net operating loss carry forwards from prior years. We recorded a full valuation allowance of the net operating losses for the three and six months ended June 30, 2024 and 2023. Accordingly, there were no benefits for income taxes recorded for the three and six months ended June 30, 2024 and 2023. Additionally, as of June 30, 2024 and December 31, 2023, we maintain a full valuation allowance for all deferred tax assets.

Loss per share of common stock

Loss per share of common stock	6 Months Ended
	Jun. 30, 2024
Loss per share of common stock
Loss per share of common stock	11. Loss per share of common stock The following table sets forth the computation of basic and diluted loss per share of common stock (in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (10,053) ​ $ (734) ​ $ (16,767) ​ $ (3,338) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares of common stock, basic ​ ​ 5,428,906 ​ ​ 5,059,003 ​ ​ 5,259,939 ​ ​ 5,059,003 Effect of dilutive securities ​ ​ — ​ ​ — ​ ​ — ​ ​ — Weighted average shares of common stock, diluted ​ ​ 5,428,906 ​ ​ 5,059,003 ​ ​ 5,259,939 ​ ​ 5,059,003 Loss per share of common stock, basic and diluted ​ $ (1.85) ​ $ (0.15) ​ $ (3.19) ​ $ (0.66) ​ For each of the periods presented in the above table, our basic weighted average shares of common stock include any outstanding (i) November 2022 Series A warrants and Series B warrants, (ii) June 2024 Pre-Funded Warrants and (iii) vested RSUs in which their release was deferred in accordance with the respective award agreement during the respective period. Since we reported a net loss for the three and six months ended June 30, 2024 and 2023, our potentially dilutive securities are deemed to be anti-dilutive, accordingly, there was no effect of dilutive securities. Therefore, our basic and diluted loss per share of common stock and our basic and diluted weighted average shares of common stock are the same for three and six months ended June 30, 2024 and 2023. The following table sets forth the potentially dilutive securities which were not included in the calculation of diluted earnings per share of common stock for three and six months ended June 30, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ 2024 2023 Stock options ​ 4,700 ​ 5,034 RSUs ​ 211,081 ​ — Warrants ​ 12,875,854 ​ 28,529 ​

Fair value of financial instrum

Fair value of financial instruments	6 Months Ended
	Jun. 30, 2024
Fair value of financial instruments
Fair value of financial instruments	12. Fair value of financial instruments Fair value is a market-based measurement, not an entity specific measurement and is defined as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” Fair value measurements are defined on a three-level hierarchy: Level 1: Unadjusted quoted prices for identical assets or liabilities in active markets; Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, whether directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Unobservable inputs that reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date. The following table sets forth our financial assets and liabilities, subject to fair value measurements on a recurring basis, by level within the fair value hierarchy (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2024 ​ As of December 31, 2023 Description Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrant liabilities ​ $ 861 ​ $ — ​ $ 861 ​ $ — ​ $ 658 ​ $ — ​ $ 658 ​ $ — Total ​ $ 861 ​ $ — ​ $ 861 ​ $ — ​ $ 658 ​ $ — ​ $ 658 ​ $ — ​

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2024
Subsequent events
Subsequent events	13. Subsequent events Management has evaluated subsequent events to determine if events or transactions occurring through the filing date of this report require adjustment to or disclosure in the condensed consolidated financial statements. Except for the following events, there were no other events that require adjustment to or disclosure in the condensed consolidated financial statements. In August 2024, we issued 229,171 shares of common stock in connection with an exercise of Pre-Funded Warrants.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	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
Net Income (Loss)	$ (10,053)	$ (6,714)	$ (734)	$ (2,604)	$ (16,767)	$ (3,338)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business, basis of presentati_2

Business, basis of presentation, new accounting standards and summary of significant accounting policies(Policies)	6 Months Ended
	Jun. 30, 2024
Business, basis of presentation, new accounting standards and summary of significant accounting policies
Basis of presentation	A. Basis of presentation We prepared the condensed consolidated financial statements following the requirements of the United States (“U.S.”) Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by accounting principles generally accepted in the U.S. (“GAAP”) for complete financial statements can be condensed or omitted. However, except as disclosed herein, there has been no material change in the information disclosed in the notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (“2023 Form 10-K”). Revenues, expenses, assets, liabilities, and equities can vary during each quarter of the year. Therefore, the results and trends in these condensed consolidated financial statements may not be representative of those for the full year. In our opinion, all adjustments necessary for a fair statement of the condensed consolidated financial statements, which are of a normal and recurring nature, have been made for the interim periods reported. The information included in the condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our 2023 Form 10-K. Certain amounts in the condensed consolidated financial statements and accompanying notes may not add due to rounding, and all percentages have been calculated using unrounded amounts.
New accounting standards	B. New accounting standards Adoption of new accounting standards New accounting standards or accounting standards updates were assessed and determined to be either not applicable or did not have a material impact on our condensed consolidated financial statements or processes. Accounting standards issued but not yet adopted In December 2023, the Financial Accounting Standards Board issued Other recently issued accounting standards not yet adopted by us are not expected, upon adoption, to have a material impact on our condensed consolidated financial statements.
Estimates and assumptions	C. Estimates and assumptions The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expenses, and related disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. The most significant estimates in our consolidated financial statements relate to accrued expenses and the fair value of stock-based compensation and warrants. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. Changes in estimates are reflected in reported results in the period in which they become known.
Reclassification of prior year presentation	E. R eclassification of prior year presentation Certain prior year amounts have been reclassified for consistency with the current year presentation. Adjustments have been made to the condensed consolidated balance sheets to reclassify the presentation of certain current liabilities related to clinical trial accrued liabilities of $3.0 million and related party payable of $0.8 million from accrued expenses and other current liabilities. These reclassifications had no effect on the reported total current liabilities in the condensed consolidated balance sheets.

Prepaid expenses and other cu_2

Prepaid expenses and other current assets (Tables)	6 Months Ended
	Jun. 30, 2024
Prepaid expenses and other current assets
Schedule of prepaid expenses and other current assets	Prepaid expenses and other current assets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ June 30, 2024 ​ December 31, 2023 Insurance ​ $ 313 ​ $ — Deposits ​ ​ 111 ​ ​ 39 Other prepaid expenses ​ 159 ​ 38 Total ​ $ 583 ​ $ 77 ​

Property and equipment, net (Ta

Property and equipment, net (Tables)	6 Months Ended
	Jun. 30, 2024
Property and equipment, net
Schedule of property and equipment, net	Property and equipment, net consist of the following (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ June 30, 2024 ​ December 31, 2023 Office equipment ​ $ 88 ​ $ 80 Less accumulated depreciation ​ (44) ​ (34) Property and equipment, net ​ $ 44 ​ $ 46 ​

Accrued expenses and other cu_2

Accrued expenses and other current liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Accrued expenses and other current liabilities
Schedule of Accrued expenses and other current liabilities	Accrued expenses and other current liabilities consist of the following (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ June 30, 2024 ​ December 31, 2023 Employee related costs ​ $ 403 ​ $ 118 Professional service fees ​ ​ 45 ​ ​ 308 Other ​ 15 ​ 166 Total ​ $ 463 ​ $ 592 ​

Warrant liabilities (Tables)

Warrant liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Warrant liabilities
Schedule of warrant liabilities	Changes to our warrant liabilities are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ Total As of January 1, 2024 ​ $ 658 Fair value changes ​ ​ 203 As of June 30, 2024 ​ $ 861

Stockholders Equity (Tables)

Stockholders Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity
Schedule of outstanding warrants	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares of Common Stock Issuable ​ ​ ​ ​ ​ ​ for Outstanding Warrants ​ ​ ​ ​ ​ ​ As of ​ Exercise ​ Expiration Warrant Issuance June 30, 2024 ​ December 31, 2023 ​ Price ​ Date July 2018 (1) 6 ​ 6 ​ $ 44,820.0000 ​ July 2028 April 2020 (1) 159 ​ 159 ​ $ 3,000.0000 ​ April 2025 January 2021 (1) 10,421 ​ 10,421 ​ $ 1,447.2000 ​ July 2026 October 2021 (1) 15,390 ​ 15,390 ​ $ 900.0000 ​ April 2025 November 2022 Series B (2) 177,938 ​ 177,938 ​ $ 0.0000 ​ December 2027 June 2024 Placement Agent (3) 127,227 ​ — ​ $ 4.9125 ​ July 2026 June 2024 Pre-Funded (4) 1,781,171 ​ — ​ $ 0.0010 ​ no expiration date June 2024 Series A (5) 5,089,060 ​ — ​ $ 3.9300 ​ September 2025 (latest date) June 2024 Series B (6) 7,633,591 ​ — ​ $ 3.9300 ​ September 2029 (latest date) Total 14,834,963 ​ 203,914 ​ ​ ​ ​ ​ (1) The number of outstanding and exercisable warrants was adjusted for the impact of each of the common stock reverse stock splits completed in 2023 and 2022. Accordingly, the number of outstanding warrants is equal to the number of shares of common stock issuable for outstanding warrants. (2) The number of outstanding and exercisable warrants was not impacted by the 2023 Reverse Stock Split. Accordingly, the number of outstanding warrants is equal to eight times the number of shares of common stock issuable for outstanding warrants. Additionally, during the six months ended June 30, 2023, 6,460,333 Series B warrants were exchanged for 807,541 shares of our common stock. (3) These warrants are exercisable at any time on or after the Stockholder Approval, which is currently planned to be in September 2024, and expire two years after a resale registration statement covering the shares of common stock issuable upon the exercise of the warrants hereunder becomes effective with the SEC. In July 2024, a resale registration statement was filed with the SEC and became effective. (4) These warrants are exercisable immediately upon their issuance in June 2024 and are considered to be perpetual warrants without any expiration date. (5) These warrants are exercisable at any time on or after the Stockholder Approval, which is currently planned to be in September 2024, and expire on the earlier of (i) the twelve months anniversary of the stockholder approval date, and (ii) the 60 th day following the date on which the Company publicly announce the receiving of positive Phase 1 MAD data readout for DA-1726. (6) These warrants are exercisable at any time on or after the Stockholder Approval, which is currently planned to be in September 2024, and expire on the earlier of (i) the five years anniversary of the stockholder approval date and (ii) the six months anniversary following the date on which the Company publicly announce the receiving of positive Phase 1, Part 3 data readout for DA-1726.

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Stock-based compensation
Schedule of stock-based compensation expense	Stock-based compensation expense was included in general and administrative and research and development as follows (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 General and administrative ​ $ 99 ​ $ 24 ​ $ 170 ​ $ (61) Research and development ​ ​ 36 ​ ​ — ​ ​ 69 ​ ​ 11 Total stock-based compensation ​ $ 135 ​ $ 24 ​ $ 239 ​ $ (50)
Schedule of the status of outstanding and exercisable options and related transactions	The following table summarizes the status of our outstanding and exercisable options and related transactions for the period presented (in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Exercisable ​ ​ Shares of ​ ​ ​ ​ ​ ​ ​ Weighted ​ Shares of ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Common ​ Weighted ​ ​ ​ Average ​ Common ​ Weighted ​ ​ ​ Average ​ ​ Stock ​ Average ​ Aggregate ​ Remaining ​ Stock ​ Average ​ Aggregate ​ Remaining ​ ​ Issuable ​ Exercise ​ Intrinsic ​ Contractual ​ Issuable ​ Exercise ​ Intrinsic ​ Contractual ​ ​ for Options ​ Price ​ Value ​ Term (years) ​ for Options ​ Price ​ Value ​ Term (years) As of January 1, 2024 ​ 4,700 ​ $ 398.30 ​ $ — ​ 8.6 ​ 4,577 ​ $ 391.04 ​ $ — ​ 8.6 Vested ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 59 ​ ​ 689.72 ​ ​ ​ ​ ​ As of June 30, 2024 ​ 4,700 ​ $ 398.30 ​ $ — ​ 8.0 ​ 4,636 ​ $ 394.84 ​ $ — ​ 8.0
Schedule of RSUs and related transactions	The following table summarizes the status of our RSUs and related transactions for the period presented (in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Vested and Deferred Release ​ ​ Shares of ​ Average ​ ​ ​ Shares of ​ Average ​ ​ ​ ​ Common Stock ​ Grant Date ​ Aggregate ​ Common Stock ​ Grant Date ​ Aggregate ​ ​ Issuable ​ Fair Value ​ Intrinsic ​ Issuable ​ Fair Value ​ Intrinsic ​ ​ for RSUs ​ Price ​ Value ​ for RSUs ​ Price ​ Value As of January 1, 2024 ​ 141,361 ​ $ 4.55 ​ $ 523 ​ 5,469 ​ $ 4.02 ​ $ 20 Granted ​ 83,899 ​ ​ 5.41 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and Deferred Release ​ ​ ​ ​ ​ ​ ​ ​ ​ 1,563 ​ ​ 4.12 ​ ​ ​ Vested and Released ​ (7,147) ​ ​ 4.05 ​ ​ 29 ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2024 ​ 218,113 ​ $ 4.90 ​ $ 1,056 ​ 7,032 ​ $ 4.04 ​ $ 34

Loss per share of common stock

Loss per share of common stock (Tables)	6 Months Ended
	Jun. 30, 2024
Loss per share of common stock
Schedule of computation of basic and diluted loss per share of common stock	The following table sets forth the computation of basic and diluted loss per share of common stock (in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (10,053) ​ $ (734) ​ $ (16,767) ​ $ (3,338) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares of common stock, basic ​ ​ 5,428,906 ​ ​ 5,059,003 ​ ​ 5,259,939 ​ ​ 5,059,003 Effect of dilutive securities ​ ​ — ​ ​ — ​ ​ — ​ ​ — Weighted average shares of common stock, diluted ​ ​ 5,428,906 ​ ​ 5,059,003 ​ ​ 5,259,939 ​ ​ 5,059,003 Loss per share of common stock, basic and diluted ​ $ (1.85) ​ $ (0.15) ​ $ (3.19) ​ $ (0.66)
Schedule of outstanding securities which were not included in the calculation of diluted earnings per share of common stock	​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ 2024 2023 Stock options ​ 4,700 ​ 5,034 RSUs ​ 211,081 ​ — Warrants ​ 12,875,854 ​ 28,529 ​

Fair value of financial instr_2

Fair value of financial instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Fair value of financial instruments
Schedule of fair value of financial instruments measured on recurring basis	The following table sets forth our financial assets and liabilities, subject to fair value measurements on a recurring basis, by level within the fair value hierarchy (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2024 ​ As of December 31, 2023 Description Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrant liabilities ​ $ 861 ​ $ — ​ $ 861 ​ $ — ​ $ 658 ​ $ — ​ $ 658 ​ $ — Total ​ $ 861 ​ $ — ​ $ 861 ​ $ — ​ $ 658 ​ $ — ​ $ 658 ​ $ — ​

Business, basis of presentati_3

Business, basis of presentation, new accounting standards and summary of significant accounting policies (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Sale of Stock
Common stock, shares authorized	100,000				100,000		100,000
Cash	$ 27,934				$ 27,934		$ 22,435
Accumulated deficit	125,032				125,032		108,265
Net losses	10,053	$ 6,714	$ 734	$ 2,604	16,767	$ 3,338
Net cash used in operating activities					13,693	$ 4,592
Consideration received					19,998
Clinical trial accrued liabilities	2,066				2,066		3,033
Accrued expenses and other current liabilities	463				463		$ 592
Reclassification adjustment
Sale of Stock
Clinical trial accrued liabilities	3,000				3,000
Accrued expenses and other current liabilities	$ 800				$ 800

Prepaid expenses and other cu_3

Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Prepaid expenses and other current assets
Insurance	$ 313
Deposits	111	$ 39
Other prepaid expenses	159	38
Total	$ 583	$ 77

Property and equipment, net (De

Property and equipment, net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property and equipment, net
Office equipment	$ 88	$ 80
Less accumulated depreciation	(44)	(34)
Property and equipment, net	$ 44	$ 46

Accrued expenses and other cu_3

Accrued expenses and other current liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued expenses and other current liabilities
Employee related costs	$ 403	$ 118
Professional service fees	45	308
Other	15	166
Total	$ 463	$ 592

Warrant liabilities (Details)

Warrant liabilities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Warrant liabilities
As of beginning balance	$ 658
Fair value changes	203
As of ending balance	$ 861

Warrant liabilities - Additiona

Warrant liabilities - Additional Information (Details) - November 2022 Series A and B $ / shares in Units, $ in Thousands	Nov. 30, 2022 USD ($) $ / shares shares
Class of Warrant or Right [Line Items]
Number of warrants per unit | shares	8
Consideration received | $	$ 0
Warrants exercise price | $ / shares	$ 0

Related parties (Details)

Related parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transactions
Research and development	$ 8,074	$ 2,364	$ 12,978	$ 3,001
Related party payable	$ 3,617		$ 3,617		$ 789
Other Liability, Current, Related Party [Extensible Enumeration]	us-gaap:RelatedPartyMember		us-gaap:RelatedPartyMember		us-gaap:RelatedPartyMember
Other Liability, Current, Related Party, Name [Extensible Enumeration]	nrbo:DongStMember		nrbo:DongStMember		nrbo:DongStMember
Shared Services Agreement
Related Party Transactions
Research and development	$ 3,400	$ 1,500	$ 3,600	$ 1,800

Commitments and Contingencies -

Commitments and Contingencies - Operating Leases - (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Aug. 31, 2023
New Corporate Headquarters Lease
Commitments and Contingencies
Term of contract					3 years
Renewal term					2 years
Rental expense	$ 22		$ 44
Operating lease cash payments	21		43
Operating lease discount rate					11%
Former Corporate Headquarters Lease
Commitments and Contingencies
Rental expense	$ 0	$ 6	$ 0	$ 11

Stockholders' equity - June 202

Stockholders' equity - June 2024 registered direct offering and private placement (Details) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($) security $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares
Consideration received | $		$ 19,998
Series A warrant
Shares of common stock issuable for Issued and outstanding warrants	793,167	793,167
Series B warrants
Shares of common stock issuable for Issued and outstanding warrants	807,541	807,541
June 2024 Offering
Number of Securities | security	2
Shares issued (in shares)	3,307,889
Offering shares (Per share) | $ / shares	$ 3.93	$ 3.93
Consideration received | $	$ 20,000
Percentage of placement agent fee	7%
Non-accountable expenses and clearing costs | $	$ 100
Percentage of common stock sold	5%
June 2024 Offering | Pre-Funded Warrants
Offering shares (Per share) | $ / shares	$ 3.929	$ 3.929
Shares of common stock issuable for Issued and outstanding warrants	1,781,171	1,781,171
Exercise Price | $ / shares	$ 0.001	$ 0.001
Maximum percentage of outstanding common stock	9.99%	9.99%
Number of days written notice	61 days
June 2024 Offering | Series A warrant
Shares of common stock issuable for Issued and outstanding warrants	5,089,060	5,089,060
Expired terms	12 months
Threshold period following the public announcement of receiving positive phase 1 multiple ascending dose data for expiry of warrants	60 days
June 2024 Offering | Series B warrants
Shares of common stock issuable for Issued and outstanding warrants	7,633,591	7,633,591
Expired terms	5 years
Threshold period following the public announcement of receiving positive phase 1 multiple ascending dose data for expiry of warrants	6 months
June 2024 Offering | PIPE common warrants
Shares issued (in shares)	763,359
Exercise Price | $ / shares	$ 3.93	$ 3.93
Maximum percentage of outstanding common stock	4.99%	4.99%
June 2024 Offering | Placement agent warrants
Shares of common stock issuable for Issued and outstanding warrants	127,227	127,227
Exercise Price | $ / shares	$ 4.9125	$ 4.9125
Premium of offering price per share (as a percent)	25%
Terminate of common stock	2 years
Non-cash issuance cost | $	$ 300	$ 300
Weighted average fair value of warrants | $ / shares	$ 2.73
June 2024 Offering | Placement agent warrants | Expected stock price volatility
Warrant measurement	1.400	1.400
June 2024 Offering | Placement agent warrants | Expected Term
Warrant measurement	0.021	0.021
June 2024 Offering | Placement agent warrants | Expected Dividend Rate
Warrant measurement	0	0
June 2024 Offering | Placement agent warrants | Risk Free Interest Rate
Warrant measurement	0.0463	0.0463
June 2024 Offering | Placement Agent Contingent Warrants
Shares of common stock issuable for Issued and outstanding warrants	318,067	318,067
Exercise Price | $ / shares	$ 4.9125	$ 4.9125
Weighted average fair value of warrants | $ / shares	$ 3.43
June 2024 Offering | Placement Agent Contingent Warrants | Expected stock price volatility
Warrant measurement	1.270	1.270
June 2024 Offering | Placement Agent Contingent Warrants | Expected Term
Warrant measurement	0.057	0.057
June 2024 Offering | Placement Agent Contingent Warrants | Expected Dividend Rate
Warrant measurement	0	0
June 2024 Offering | Placement Agent Contingent Warrants | Risk Free Interest Rate
Warrant measurement	0.0431	0.0431
June 2024 Offering | Dong-A
Consideration received | $	$ 10,000

Stockholders Equity - Warrants

Stockholders Equity - Warrants (Details) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Warrants
Number of Warrants	14,834,963	203,914
Warrants Exercise Price 44,820.00
Warrants
Number of Warrants	6	6
Exercise Price	$ 44,820
Warrants Exercise Price 3,000.00
Warrants
Number of Warrants	159	159
Exercise Price	$ 3,000
Warrants Exercise Price 1,447.20
Warrants
Number of Warrants	10,421	10,421
Exercise Price	$ 1,447.2000
Warrants Exercise Price 900.00
Warrants
Number of Warrants	15,390	15,390
Exercise Price	$ 900
November 2022 Series B
Warrants
Number of Warrants	177,938	177,938
Exercise Price	$ 0
June 2024 Placement Agent
Warrants
Number of Warrants	127,227
Exercise Price	$ 4.9125
June 2024 Pre-funded
Warrants
Number of Warrants	1,781,171
Exercise Price	$ 0.0010
June 2024 Series A
Warrants
Number of Warrants	5,089,060
Exercise Price	$ 3.9300
June 2024 Series B
Warrants
Number of Warrants	7,633,591
Exercise Price	$ 3.9300

Stockholders Equity - Warrant_2

Stockholders Equity - Warrants - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 shares
Number of warrants exchanged	8
Warrants term	2 years
Series B Warrant
Number of warrants exchanged	6,460,333
Warrants to purchase shares of common stock	807,541
June 2024 Series A
Expired terms	12 months
Threshold period following the public announcement of receiving positive phase 1 multiple ascending dose data for expiry of warrants	60 days
June 2024 Series B
Expired terms	5 years
Threshold period following the public announcement of receiving positive phase 1 multiple ascending dose data for expiry of warrants	6 months
Series A warrant
Number of warrants exchanged	6,345,333
Warrants to purchase shares of common stock	793,167

Stock-based Compensation - Expe

Stock-based Compensation - Expense, unrecognized cost, awards o/s (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Number of Options
Stock-based compensation	$ 135	$ 24	$ 239	$ (50)
Stock options outstanding (in shares)	4,700		4,700		4,700
Shares available for future issuance	385,921		385,921
2021 Inducement Plan
Number of Options
Shares available for future issuance	4,166		4,166
2022 Plan
Number of Options
Period of automatic increase in shares reserved			8 years
Percentage of the common shares outstanding (as a percent)			10%
Number of shares authorized	1,000,000		1,000,000
Shares available for future issuance	381,755		381,755
2022 Plan | Maximum
Number of Options
Number of shares authorized	15,000,000		15,000,000
Stock Plan 2022,2021 And 2019 Plans
Number of Options
Unrecognized share-based compensation cost	$ 800		$ 800
Unrecognized share-based compensation - Weighted average period			1 year 9 months 18 days
Employee Stock Option | 2019 Plan
Number of Options
Stock options outstanding (in shares)	1,575		1,575
Employee Stock Option | 2022 Plan
Number of Options
Stock options outstanding (in shares)	3,125		3,125
Restricted stock units | 2022 Plan
Number of Options
RSUs outstanding	218,113		218,113
General and administrative
Number of Options
Stock-based compensation	$ 99	$ 24	$ 170	(61)
Research and development
Number of Options
Stock-based compensation	$ 36		$ 69	$ 11

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Options (Details) - $ / shares	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Stock Options, Additional Disclosures
Outstanding, Number, Beginning Balance (in shares)	4,700
Granted (in shares)		3,125
Outstanding, Number, Ending Balance (in shares)	4,700		4,700
Options Exercisable, Number, Beginning	4,577
Vested and exercisable (in shares)	59
Options Exercisable, Number, Ending	4,636		4,577
Outstanding, Weighted Average Exercise Price, Beginning Balance (in dollars per share)	$ 398.30
Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)	398.30		$ 398.30
Options Exercisable, Exercise price, beginning (in dollars per share)	391.04
Vested and exercisable (in dollars per share)	689.72
Options Exercisable, Exercise price, ending (in dollars per share)	$ 394.84		$ 391.04
Options, Outstanding, Remaining Contractual Term	8 years		8 years 7 months 6 days
Options Exercisable, Remaining Contractual Term	8 years		8 years 7 months 6 days
Weighted average fair value per share of options granted		$ 3.63

Stock-based Compensation - Assu

Stock-based Compensation - Assumptions (Details)	6 Months Ended
	Jun. 30, 2024
Stock-based compensation
Expected stock price volatility	82.90%
Expected life of stock options (years)	5 years
Expected dividend yield	0%
Risk free interest rate	3.54%

Stock based compensation RSU (D

Stock based compensation RSU (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Stock-based compensation
RSU's Fair value, Beginning balance (in shares) | shares	141,361
RSU's, Number grants (in shares) | shares	83,899
RSU's, Number Vested and Released (in shares) | shares	(7,147)
RSU's Fair value, Ending balance (in shares) | shares	218,113
RSU's Fair value, Opening balance (per share) | $ / shares	$ 4.55
RSU's Fair value, grants in period (per share) | $ / shares	5.41
RSU's Fair value, vested in period (per share) | $ / shares	4.05
RSU's Fair value, Ending balance (per share) | $ / shares	$ 4.90
Intrinsic value, opening balance | $	$ 523
Intrinsic value vested | $	29
Intrinsic value, ending balance | $	$ 1,056
RSU's Vested and Deferred Release, Beginning balance (in shares) | shares	5,469
RSUs, Vested and Deferred Release (in shares) | shares	1,563
RSU's Vested and Deferred Release, Ending balance (in shares) | shares	7,032
RSU's Vested Fair value, Opening balance (per share) | $ / shares	$ 4.02
RSUs, Vested and Deferred Release (per share) | $ / shares	4.12
RSU's Vested Fair value, Ending balance (per share) | $ / shares	$ 4.04
Vested intrinsic value, beginning balance | $	$ 20
Vested intrinsic value, ending balance | $	$ 34

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income taxes
Provision for income taxes	$ 0	$ 0	$ 0	$ 0

Loss per share of common stoc_2

Loss per share of common stock - Computation of basic and diluted loss per share of common stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Loss per share of common stock
Net loss	$ (10,053)	$ (6,714)	$ (734)	$ (2,604)	$ (16,767)	$ (3,338)
Weighted average shares of common stock, basic (in shares)	5,428,906		5,059,003		5,259,939	5,059,003
Weighted average shares of common stock, diluted (in shares)	5,428,906		5,059,003		5,259,939	5,059,003
Loss per share of common stock, basic (in dollars per share)	$ (1.85)		$ (0.15)		$ (3.19)	$ (0.66)
Loss per share of common stock, diluted (in dollars per share)	$ (1.85)		$ (0.15)		$ (3.19)	$ (0.66)

Loss per share of common stoc_3

Loss per share of common stock - Antidilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Employee Stock Option
Loss per share of common stock
Outstanding securities not included in the calculation of diluted earnings per share of common stock (in shares)	4,700	5,034	4,700	5,034
RSUs
Loss per share of common stock
Outstanding securities not included in the calculation of diluted earnings per share of common stock (in shares)	211,081		211,081
Warrants - issued
Loss per share of common stock
Outstanding securities not included in the calculation of diluted earnings per share of common stock (in shares)	12,875,854	28,529	12,875,854	28,529

Fair value of financial instr_3

Fair value of financial instruments - Recurring basis (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair value of financial instruments
Warrant liabilities	$ 861	$ 658
Total	861	658
Level 2
Fair value of financial instruments
Warrant liabilities	861	658
Total	$ 861	$ 658

Subsequent events (Details)

Subsequent events (Details)	Aug. 31, 2024 shares
Subsequent Event | Pre-Funded Warrants
Subsequent Events
Shares issued	229,171