enVVeno Medical (NVNO) 10-Q 12 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 09, 2021
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-38325
Entity Registrant Name	enVVeno Medical Corporation
Entity Central Index Key	0001661053
Entity Tax Identification Number	33-0936180
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	70 Doppler
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92618
City Area Code	(949)
Local Phone Number	261-2900
Title of 12(b) Security	Common Stock, $0.00001 par value
Trading Symbol	NVNO
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	true
Elected Not To Use the Extended Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,468,324
Warrant [Member]
Title of 12(b) Security	Warrant to Purchase Commons Stock
Trading Symbol	NVNOW
Security Exchange Name	NASDAQ

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 57,896,922	$ 9,334,584
Prepaid expenses and other current assets	310,046	234,467
Total Current Assets	58,206,968	9,569,051
Property and equipment, net	598,976	398,967
Operating lease right-of-use assets, net	311,790	539,974
Security deposits and other assets	54,493	29,843
Total Assets	59,172,227	10,537,835
Current Liabilities:
Accounts payable	394,191	1,390,362
Accrued expenses and other current liabilities	358,644	1,135,969
Note Payable		312,700
Deferred revenue - related party	33,000	33,000
Current portion of operating lease liabilities	332,297	314,202
Total Current Liabilities	1,118,132	3,186,233
Long-term operating lease liabilities		253,746
Total Liabilities	1,118,132	3,439,979
Commitments and Contingencies
Stockholders’ Equity:
Preferred stock, par value $0.00001, 10,000,000 shares authorized: no shares issued or outstanding
Common stock, par value $0.00001, 250,000,000 shares authorized, 9,468,324 and 2,541,529 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively	95	25
Additional paid-in capital	130,917,501	72,421,242
Accumulated deficit	(72,863,501)	(65,323,411)
Total Stockholders’ Equity	58,054,095	7,097,856
Total Liabilities and Stockholders’ Equity	$ 59,172,227	$ 10,537,835

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock, Par or Stated Value Per Share		$ 0.00001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	9,468,324	2,541,529
Common stock, shares, outstanding	9,468,324	2,541,529

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating Expenses:
Selling, general and administrative expenses	$ 1,481,972	$ 1,164,089	$ 3,954,174	$ 3,001,720
Research and development expenses	1,224,559	758,198	3,946,070	1,974,995
Loss from Operations	(2,706,531)	(1,922,287)	(7,900,244)	(4,976,715)
Other (Income) Expense:
Gain on extinguishment of note payable	(312,700)		(312,700)
Interest (income) expense, net	(4,522)	(564)	(14,182)	(3,425)
Change in fair value of derivative liabilities		53,046		(211,807)
Other expense			(33,272)
Total Other (Income) Expense	(317,222)	52,482	(360,154)	(215,232)
Net Loss	(2,389,309)	(1,974,769)	(7,540,090)	(4,761,483)
Deemed dividend to Series C Preferred Stockholders		(23,859)		(23,859)
Net Loss Attributable to Common Stockholders	$ (2,389,309)	$ (1,998,628)	$ (7,540,090)	$ (4,785,342)
Net Loss Per Basic and Diluted Common Share:	$ (0.26)	$ (1.38)	$ (0.96)	$ (4.70)
Weighted Average Number of Common Shares Outstanding:
Basic and Diluted	9,179,524	1,445,820	7,840,482	1,018,420

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders' Equity (Deficiency) (Unaudited) - USD ($)	Preferred Stock [Member]Series C convertible preferred stock [Member].	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2019		$ 7	$ 57,177,858	$ (56,187,925)	$ 989,940
Balance, shares at Dec. 31, 2019		717,274
Common stock issued in private placement offering		$ 1	24,304		24,305
Common stock issued in private placement offering, shares		52,000
Share-Based Compensation			116,820		116,820
Warrants granted to consultants			14,070		14,070
Net loss				(1,159,758)	(1,159,758)
Ending balance, value at Mar. 31, 2020		$ 8	57,333,052	(57,347,683)	(14,623)
Balance, shares at Mar. 31, 2020		769,274
Beginning balance, value at Dec. 31, 2019		$ 7	57,177,858	(56,187,925)	989,940
Balance, shares at Dec. 31, 2019		717,274
Reclassification of Warrant Derivatives to Equity					(334,229)
Net loss					(4,761,483)
Ending balance, value at Sep. 30, 2020	$ 42	$ 17	65,744,310	(60,949,408)	4,794,961
Balance, shares at Sep. 30, 2020	4,205,406	1,609,709
Beginning balance, value at Mar. 31, 2020		$ 8	57,333,052	(57,347,683)	(14,623)
Balance, shares at Mar. 31, 2020		769,274
Common stock issued in public offering		$ 2	1,973,306		1,973,308
Common stock issued in public offering, shares		192,688
Share-Based Compensation			37,717		37,717
Net loss				(1,626,956)	(1,626,956)
Ending balance, value at Jun. 30, 2020		$ 10	59,344,075	(58,974,639)	369,446
Balance, shares at Jun. 30, 2020		961,962
Common stock issued in public offering		$ 6	3,881,901		3,881,907
Common stock issued in public offering, shares		575,000
Preferred stock issued in private placement	$ 42		1,358,060		1,358,102
Preferred stock issued in private placement, shares	4,205,406
Warrant Exercised		$ 1	631,625		631,626
Warrant Exercised, shares		72,747
Reclassification of Warrant Derivatives to Equity			334,229		334,229
Share-Based Compensation			194,420		194,420
Net loss				(1,974,769)	(1,974,769)
Ending balance, value at Sep. 30, 2020	$ 42	$ 17	65,744,310	(60,949,408)	4,794,961
Balance, shares at Sep. 30, 2020	4,205,406	1,609,709
Beginning balance, value at Dec. 31, 2020		$ 25	72,421,242	(65,323,411)	7,097,856
Balance, shares at Dec. 31, 2020		2,541,529
Common stock issued in public offering		$ 59	$ 38,127,717		$ 38,127,776
Common stock issued in public offering, shares		5,914,284
Common stock issued in at the market transactions, shares		1	239,999		240,000
Common stock issued for exercise of warrants, shares		52,077
Share-Based Compensation			$ 106,850		$ 106,850
Fair Value of Warrants Issued			211,976		211,976
Net loss				(2,772,886)	(2,772,886)
Ending balance, value at Mar. 31, 2021		$ 85	111,107,784	(68,096,297)	43,011,572
Balance, shares at Mar. 31, 2021		8,507,890
Beginning balance, value at Dec. 31, 2020		$ 25	72,421,242	(65,323,411)	7,097,856
Balance, shares at Dec. 31, 2020		2,541,529
Reclassification of Warrant Derivatives to Equity
Net loss					(7,540,090)
Ending balance, value at Sep. 30, 2021		$ 95	130,917,501	(72,863,501)	58,054,095
Balance, shares at Sep. 30, 2021		9,466,240
Beginning balance, value at Mar. 31, 2021		$ 85	111,107,784	(68,096,297)	43,011,572
Balance, shares at Mar. 31, 2021		8,507,890
Share-Based Compensation			202,983		202,983
Shares issued in satisfaction of trade payable			37,576		37,576
Shares issued in satisfaction of trade payable, shares		5,772
Net loss				(2,377,895)	(2,377,895)
Ending balance, value at Jun. 30, 2021		$ 85	111,348,343	(70,474,192)	40,874,236
Balance, shares at Jun. 30, 2021		8,513,662
Common stock issued in at the market transactions		$ 2	970,573		970,575
Common stock issued in registered direct offering		$ 8	18,273,583		18,273,591
Common stock issued in registered direct offering, shares		781,615
Common stock issued in at the market transactions, shares		170,963
Share-Based Compensation			325,002		325,002
Net loss				(2,389,309)	(2,389,309)
Ending balance, value at Sep. 30, 2021		$ 95	$ 130,917,501	$ (72,863,501)	$ 58,054,095
Balance, shares at Sep. 30, 2021		9,466,240

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities
Net loss	$ (7,540,090)	$ (4,761,483)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	656,283	363,027
Depreciation and amortization	103,134	71,252
Amortization of right-of-use assets	228,184	216,741
Gain on extinguishment of note payable	(312,700)
Change in fair value of derivatives		(211,807)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(35,579)	(232,006)
Security deposit and other assets	(24,650)
Accounts payable	(998,595)	(246,960)
Accrued expenses and other current liabilities	(586,797)	(45,766)
Payments on lease liabilities	(235,651)	(216,514)
Total adjustments	(1,206,371)	(302,033)
Net Cash Used in Operating Activities	(8,746,461)	(5,063,516)
Cash Flows from Investing Activities
Purchase of property and equipment	(303,143)	(152,751)
Net Cash Used in Investing Activities	(303,143)	(152,751)
Cash Flows from Financing Activities
Proceeds from private placements of common stock and warrants, net		570,341
Preferred stock issued in private placement		1,358,102
Proceeds from shares issued under ATM, net	970,575
Proceeds from registered direct offering, net	18,273,591
Proceeds from public offering, net	38,127,776	5,855,215
Proceeds from issuance of note payable		312,700
Proceeds from Warrant Exercises	240,000	631,626
Net Cash Provided by Financing Activities	57,611,942	8,727,984
Net Increase in Cash, Cash Equivalent, and Restricted Cash	48,562,338	3,511,717
Cash, cash equivalents and restricted cash - Beginning of period	9,334,584	2,117,286
Cash, cash equivalents and restricted cash - End of period	57,896,922	5,629,003
Cash Paid (Received) During the Years For:
Interest, net	(14,182)	(3,425)
Non-Cash Financing Activities:
Fair value of warrants issued in connection with common stock included in derivative liabilities		513,534
Fair value of placement agent warrants issued in connection with common stock included in derivative liabilities		32,502
Fair value of common stock issued in satisfaction of trade payable	37,576
Fair value of warrants issued	211,976
Reclassification of warrant derivatives to equity		$ (334,229)

Business Organization and Natur

Business Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Organization and Nature of Operations	Note 1 – Business Organization and Nature of Operations enVVeno Medical Corporation is a med-tech company focused on improving the standard of care in the treatment of venous disease. We are developing tissue-based solutions that are designed to be life sustaining or life enhancing for patients with deep venous Chronic Venous Insufficiency (CVI). CVI occurs when valves inside of the veins of the leg fail, resulting in insufficient blood being returned to the heart. Our products are being developed to address large unmet medical needs by either offering treatments where none currently exist or by substantially increasing the current standards of care. Our lead product is a porcine based device to be surgically implanted in the deep venous system of the leg, and is called the VenoValve®. The VenoValve is currently being evaluated in the SAVVE U.S. pivotal trial for the purpose of obtaining approval to market and sell the device from the U.S. Food and Drug Administration (“FDA”). Our team of officers and directors has been affiliated with numerous medical devices that have received FDA approval or CE marking and have been commercially successful. We currently lease a 14,507 sq. ft. manufacturing facility in Irvine, California, where we manufacture medical devices for our clinical trials, and which has capacity for commercial manufacturing. On September 21, 2021, we announced that we were changing our name from Hancock Jaffe to enVVeno Medical Corporation and that our development strategy is to focus on the treatment of venous disease. In addition to the VenoValve, we announced that we have begun development of a second device for the treatment of venous disease which we are calling enVVe. In connection with this change in strategy, we indicated that we are deferring further development of the CoreoGraft, which is now outside of our primary focus area. ENVVENO MEDICAL CORPORATION f/k/a HANCOCK JAFFE LABORATORIES, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

Going Concern and Management_s

Going Concern and Management’s Liquidity Plan	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern and Management’s Liquidity Plan	Note 2 – Going Concern and Management’s Liquidity Plan The accompanying unaudited condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Although we expect to continue incurring losses for the foreseeable future, may never earn revenues large enough to support operations, and may need to raise additional capital to sustain operations, pursue product development initiatives, and penetrate markets for the sale of products, Management believes that our capital resources at September 30, 2021, are sufficient to meet our obligations as they become due within one year after the date of this interim filing, and sustain operations. ENVVENO MEDICAL CORPORATION f/k/a HANCOCK JAFFE LABORATORIES, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Note 3 – Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, such statements include all adjustments (consisting only of normal recurring items) which are considered necessary for a fair presentation of the unaudited condensed financial statements of the Company as of September 30, 2021 and December 31, 2020, and for the three and nine months ended September 30, 2021 and 2020. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the operating results for the full year. These unaudited condensed financial statements should be read in conjunction with the financial statements and notes thereto for the year ended December 31, 2020 included in the Company’s Form 10-K filed with the SEC on March 31, 2021. The condensed balance sheet as of December 31, 2020 has been derived from the Company’s audited financial statements. Concentrations The Company maintains cash with major financial institutions. Cash held in United States bank institutions is currently insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000 57,646,922 Net Loss per Share The Company computes basic and diluted loss per share by dividing net loss attributable to common stockholders by the weighted average number of common stock outstanding during the period, including warrants exercisable for little or no cash consideration. Basic and diluted net loss per common share are the same since the inclusion of common stock issuable pursuant to the exercise of warrants and options, would have been anti-dilutive. Subsequent Events The Company evaluated events that have occurred after the balance sheet date through the date the financial statements were issued. Based upon the evaluation and transactions, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the financial statements. Recent Accounting Standards In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. ASU 2019-12 is effective for public business entities for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. There was not a significant impact to the financial statements from the adoption of this standard. ENVVENO MEDICAL CORPORATION f/k/a HANCOCK JAFFE LABORATORIES, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 4 – Property and Equipment As of September 30, 2021 and December 31, 2020, property and equipment consist of the following: Schedule of Property and Equipment September 30, December 31, 2021 2020 Laboratory equipment $ 501,346 320,830 Furniture and fixtures 124,093 98,392 Computer software and equipment 124,823 65,078 Leasehold improvements 188,589 158,092 Construction Work in Progress – Software 251,163 244,479 Property and equipment, gross 1,190,014 886,871 Less: accumulated depreciation (591,038 ) (487,904 ) Property and equipment, net $ 598,976 398,967 Depreciation expense amounted to $ 44,076 66,857

Right-of-Use Assets and Lease L

Right-of-Use Assets and Lease Liability	9 Months Ended
	Sep. 30, 2021
Right-of-use Assets And Lease Liability
Right-of-Use Assets and Lease Liability	Note 5 – Right-of-Use Assets and Lease Liability On September 20, 2017, the Company renewed its operating lease for its manufacturing facility in Irvine, California, effective October 1, 2017, for five years 60 26,838 7,254 The Company has no other operating or financing leases with terms greater than 12 months The Company adopted Accounting Standards Codification (“ASC”) Topic 842, Leases (Topic 842) effective January 1, 2019 using the modified-retrospective method and elected the package of transition practical expedients for expired or existing contracts, which does not require reassessment of previous conclusions related to contracts containing leases, lease classification and initial direct costs, and therefore the comparative periods presented are not adjusted. In addition, the Company elected to adopt the short-term lease exception and not apply Topic 842 to arrangements with lease terms of 12 months or less. On January 1, 2019, upon adoption of Topic 842, the Company recorded right-of-use assets of $ 1,099,400 1,121,873 22,473 8.5 ENVVENO MEDICAL CORPORATION f/k/a HANCOCK JAFFE LABORATORIES, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) Our operating lease cost is as follows: Schedule of Operating Lease Cost For the Three Months Ended September 30, For the Nine Months Ended September 30, 2021 2021 Operating lease cost $ 85,492 $ 256,475 Supplemental cash flow information related to our operating lease is as follows: Schedule of Supplemental Cash Flow Information Related to Operating Lease For the Three Months Ended September 30, For the Nine Months Ended September 30, 2021 2021 Operating Cash Flow Information: Cash paid for amounts in the measurement of lease liabilities $ 87,981 $ 263,943 Schedule of Operating Remaining Lease Term and Discount Rate Remaining lease term and discount rate for our operating lease is as follows: September 30, 2021 Remaining lease term 1 Discount rate 8.5 % Maturity of our lease liabilities by fiscal year for our operating lease is as follows: Schedule of Maturity of Lease Liabilities September 30,2021 Three months ended December 31, 2020 $ 90,618 Year ended December 31, 2021 271,854 Total $ 362,472 Less: Imputed Interest (30,175 ) Present value of our lease liability $ 332,297 ENVVENO MEDICAL CORPORATION f/k/a HANCOCK JAFFE LABORATORIES, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Note 6 – Accrued Expenses and Other Current Liabilities As of September 30, 2021, and December 31, 2020, accrued expenses and other current liabilities consist of the following: Schedule of Accrued Expenses September 30, December 31, 2021 2020 Accrued compensation costs $ 252,374 $ 473,799 Accrued professional fees 82,500 79,650 Accrued franchise taxes 23,770 25,607 Accrued research and development - 368,809 Other accrued expenses - 188,104 Accrued expenses $ 358,644 $ 1,135,969

Note Payable

Note Payable	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Note Payable	Note 7 – Note Payable On April 12, 2020, the Company obtained a loan (the “Loan”) in the amount of $ 312,700 The Loan, which was in the form of a Note dated April 12, 2020, was to mature on April 12, 2022 1 312,700

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8 – Commitments and Contingencies Litigations Claims and Assessments In the normal course of business, the Company may be involved in legal proceedings, claims and assessments arising in the ordinary course of business. The Company records legal costs associated with loss contingencies as incurred and accrues for all probable and estimable settlements. Robert Rankin Complaints On July 9, 2020, the Company was served with a civil complaint filed in the Superior Court for the State of California, County of Orange by a former employee, Robert Rankin, who resigned his employment on or about March 30, 2020. The case is entitled Rankin v. Hancock Jaffe Laboratories, Inc. et al., Case No. 30-2020-01146555-CU-WR-CJC and was filed on May 27, 2020. On September 3, 2020 the Company and its Chief Executive Officer were served with a second complaint filed in the Superior Court for the State of California, County of Orange by Mr. Rankin. The case is entitled Rankin v. Hancock Jaffe Laboratories, Inc. et al., Case No. 30-2020-01157857 and was filed on August 31, 2020. The complaints assert several causes of action including a cause of action for failure to timely pay Mr. Rankin’s accrued and unused vacation and three months’ severance under his July 16, 2018 employment agreement, defamation, unlawful labor code violations, sex-based discrimination, and unfair competition, and seeks damages for lost wages, emotional and mental distress, consequential damages, punitive damages and attorney’s fees and costs. The Company intends to vigorously defend the claims, investigate the allegations, and assert counterclaims. As of the date of these financial statements, the amount of loss associated with these complaints, if any, cannot be reasonably estimated. Accordingly, no amounts related to these complaints are accrued as of September 30, 2021. ENVVENO MEDICAL CORPORATION f/k/a HANCOCK JAFFE LABORATORIES, INC. (Unaudited)

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders’ Equity	Note 10 – Stockholders’ Equity Common Stock On February 11, 2021, the Company raised $ 41,400,000 3,300,000 5,914,284 7.00 2,957,142 7.00 February 11, 2026 4.84 14,312,567 7.53 0.11 113.1 0 2.5 On April 26, 2021, the Company issued 5,772 6.51 37,576 On August 12, 2021, the Company entered into an At-the-Market Offering Agreement to create an at-the-market equity program under which it may sell up to $ 25,000,000 170,963 971,000 On September 9, 2021, the Company entered a securities purchase agreement pursuant to which it completed a registered direct offering in which it sold 781,615 shares of common stock and Pre-Funded Warrants to purchase 1,759,035 shares of common stock, for aggregate net proceeds of approximately $ 18,300,000 We determined that equity classification of the warrants was appropriate. Accordingly, their value is included in additional paid-in capital. In connection with this transaction, the Company also issued to the placement agent as compensation a warrant to purchase up to 152,439 9.84 Warrants In November 2020 the Company’s Board of Directors approved the issuance of warrants to purchase 6,400 shares of common stock to an advisor and warrants to purchase 20,000 shares of common stock to certain participants in the preferred share exchange. Separately the Company agreed to re-price warrants issued to the placement agent for the Company’s February 25, 2020 private placement. These warrants and the re-priced warrant were issued in February 2021. The value of these warrants when they were issued was $ 211,976 . The Company determined their value using the Black-Scholes method with the following assumptions: stock price of $ 8.91 - $ 9.31 , risk-free interest rate of 0.47 %, volatility of 113 %, annual rate of quarterly dividends of 0 %, and an expected term of 2.5 to 3.5 years. Stock Options From time to time, the Company issues options for the purchase of its common stock to employees and others. Share-based compensation related to stock options is included in selling, general and administrative expenses on the accompanying statement of operations, and was $ 0.6 and $ 0.4 million of during the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021, there was $ 1.6 1.7 ENVVENO MEDICAL CORPORATION f/k/a HANCOCK JAFFE LABORATORIES, INC. (Unaudited)

Net Loss per Share

Net Loss per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Loss per Share	Note 10 – Net Loss per Share The following table summarizes the number of potentially dilutive common stock equivalents excluded from the calculation of diluted net loss per common share as of September 30, 2021 and 2020: Summary of Potentially Dilutive Common Stock Equivalents Excluded from Diluted Net Loss Per Share September 30, 2021 2020 Shares of common stock issuable upon exercise of warrants 4,554,471 1,360,883 Shares of common stock issuable upon exercise of options 485,212 212,622 Potentially dilutive common stock equivalents excluded from diluted net loss per share 5,039,683 1,573,504

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Note 11 – Related Party Transactions On June 8, 2021, the Company updated its agreement with the vendor affiliated by common ownership and control with a shareholder holding approximately 10 0.6

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, such statements include all adjustments (consisting only of normal recurring items) which are considered necessary for a fair presentation of the unaudited condensed financial statements of the Company as of September 30, 2021 and December 31, 2020, and for the three and nine months ended September 30, 2021 and 2020. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the operating results for the full year. These unaudited condensed financial statements should be read in conjunction with the financial statements and notes thereto for the year ended December 31, 2020 included in the Company’s Form 10-K filed with the SEC on March 31, 2021. The condensed balance sheet as of December 31, 2020 has been derived from the Company’s audited financial statements.
Concentrations	Concentrations The Company maintains cash with major financial institutions. Cash held in United States bank institutions is currently insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000 57,646,922
Net Loss per Share	Net Loss per Share The Company computes basic and diluted loss per share by dividing net loss attributable to common stockholders by the weighted average number of common stock outstanding during the period, including warrants exercisable for little or no cash consideration. Basic and diluted net loss per common share are the same since the inclusion of common stock issuable pursuant to the exercise of warrants and options, would have been anti-dilutive.
Subsequent Events	Subsequent Events The Company evaluated events that have occurred after the balance sheet date through the date the financial statements were issued. Based upon the evaluation and transactions, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the financial statements.
Recent Accounting Standards	Recent Accounting Standards In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. ASU 2019-12 is effective for public business entities for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. There was not a significant impact to the financial statements from the adoption of this standard. ENVVENO MEDICAL CORPORATION f/k/a HANCOCK JAFFE LABORATORIES, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited)

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	As of September 30, 2021 and December 31, 2020, property and equipment consist of the following: Schedule of Property and Equipment September 30, December 31, 2021 2020 Laboratory equipment $ 501,346 320,830 Furniture and fixtures 124,093 98,392 Computer software and equipment 124,823 65,078 Leasehold improvements 188,589 158,092 Construction Work in Progress – Software 251,163 244,479 Property and equipment, gross 1,190,014 886,871 Less: accumulated depreciation (591,038 ) (487,904 ) Property and equipment, net $ 598,976 398,967

Right-of-Use Assets and Lease_2

Right-of-Use Assets and Lease Liability (Tables)	9 Months Ended
	Sep. 30, 2021
Right-of-use Assets And Lease Liability
Schedule of Operating Lease Cost	Our operating lease cost is as follows: Schedule of Operating Lease Cost For the Three Months Ended September 30, For the Nine Months Ended September 30, 2021 2021 Operating lease cost $ 85,492 $ 256,475
Schedule of Supplemental Cash Flow Information Related to Operating Lease	Supplemental cash flow information related to our operating lease is as follows: Schedule of Supplemental Cash Flow Information Related to Operating Lease For the Three Months Ended September 30, For the Nine Months Ended September 30, 2021 2021 Operating Cash Flow Information: Cash paid for amounts in the measurement of lease liabilities $ 87,981 $ 263,943
Schedule of Operating Remaining Lease Term and Discount Rate	Schedule of Operating Remaining Lease Term and Discount Rate Remaining lease term and discount rate for our operating lease is as follows: September 30, 2021 Remaining lease term 1 Discount rate 8.5 %
Schedule of Maturity of Lease Liabilities	Maturity of our lease liabilities by fiscal year for our operating lease is as follows: Schedule of Maturity of Lease Liabilities September 30,2021 Three months ended December 31, 2020 $ 90,618 Year ended December 31, 2021 271,854 Total $ 362,472 Less: Imputed Interest (30,175 ) Present value of our lease liability $ 332,297

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	As of September 30, 2021, and December 31, 2020, accrued expenses and other current liabilities consist of the following: Schedule of Accrued Expenses September 30, December 31, 2021 2020 Accrued compensation costs $ 252,374 $ 473,799 Accrued professional fees 82,500 79,650 Accrued franchise taxes 23,770 25,607 Accrued research and development - 368,809 Other accrued expenses - 188,104 Accrued expenses $ 358,644 $ 1,135,969

Net Loss per Share (Tables)

Net Loss per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Summary of Potentially Dilutive Common Stock Equivalents Excluded from Diluted Net Loss Per Share	The following table summarizes the number of potentially dilutive common stock equivalents excluded from the calculation of diluted net loss per common share as of September 30, 2021 and 2020: Summary of Potentially Dilutive Common Stock Equivalents Excluded from Diluted Net Loss Per Share September 30, 2021 2020 Shares of common stock issuable upon exercise of warrants 4,554,471 1,360,883 Shares of common stock issuable upon exercise of options 485,212 212,622 Potentially dilutive common stock equivalents excluded from diluted net loss per share 5,039,683 1,573,504

Business Organization and Nat_2

Business Organization and Nature of Operations (Details Narrative)	Sep. 30, 2021ft²
Irvine, California [Member]
Area of Land	14,507

Significant Accounting Polici_3

Significant Accounting Policies (Details Narrative)	Sep. 30, 2021USD ($)
Accounting Policies [Abstract]
FDIC insured amount	$ 250,000
Uninsured cash balance	$ 57,646,922

Schedule of Property and Equipm

Schedule of Property and Equipment (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,190,014	$ 886,871
Less: accumulated depreciation	(591,038)	(487,904)
Property and equipment, net	598,976	398,967
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	501,346	320,830
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	124,093	98,392
Computer Software and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	124,823	65,078
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	188,589	158,092
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 251,163	$ 244,479

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 44,076	$ 66,857

Schedule of Operating Lease Cos

Schedule of Operating Lease Cost (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Right-of-use Assets And Lease Liability
Operating lease cost	$ 85,492	$ 256,475

Schedule of Supplemental Cash F

Schedule of Supplemental Cash Flow Information Related to Operating Lease (Details) - USD ($)	Sep. 20, 2017	Sep. 30, 2021	Sep. 30, 2021
Right-of-use Assets And Lease Liability
Cash paid for amounts in the measurement of lease liabilities	$ 26,838	$ 87,981	$ 263,943

Schedule of Operating Remaining

Schedule of Operating Remaining Lease Term and Discount Rate (Details)	Sep. 30, 2021
Right-of-use Assets And Lease Liability
Remaining lease term	1 year
Discount rate	8.50%

Schedule of Maturity of Lease L

Schedule of Maturity of Lease Liabilities (Details) - USD ($)	Sep. 30, 2021	Jan. 01, 2019
Right-of-use Assets And Lease Liability
Three months ended December 31, 2020	$ 90,618
Year ended December 31, 2021	271,854
Total	362,472
Less: Imputed Interest	(30,175)
Present value of our lease liability	$ 332,297	$ 1,121,873

Right-of-Use Assets and Lease_3

Right-of-Use Assets and Lease Liability (Details Narrative) - USD ($)	Sep. 20, 2017	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020	Jan. 01, 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease term	5 years
Operating lease renewal term	60 months
Initial lease rate per month	$ 26,838	$ 87,981	$ 263,943
Operating expenses for building repairs and maintenance	$ 7,254
Financing leases term description	The Company has no other operating or financing leases with terms greater than 12 months
Right - of - use asset		311,790	311,790	$ 539,974	$ 1,099,400
Lease liability		$ 332,297	$ 332,297		1,121,873
Deferred rent					$ 22,473
Incremental borrowing rate used to determine lease liability		8.50%	8.50%
Present Value of Monthly Lease Payments [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Incremental borrowing rate used to determine lease liability		8.50%	8.50%

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued compensation costs	$ 252,374	$ 473,799
Accrued professional fees	82,500	79,650
Accrued franchise taxes	23,770	25,607
Accrued research and development		368,809
Other accrued expenses		188,104
Accrued expenses	$ 358,644	$ 1,135,969

Note Payable (Details Narrative

Note Payable (Details Narrative) - USD ($)	Sep. 08, 2021	Apr. 12, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Notes payable amount							$ 312,700
Gain on extinguishment of debt	$ 312,700		$ 312,700		$ 312,700
Paycheck Protection Program [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Notes payable amount		$ 312,700
Maturity date		Apr. 12, 2022
Interest rate		1.00%

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative)	Sep. 09, 2021USD ($)$ / sharesshares	Aug. 12, 2021shares	Apr. 26, 2021USD ($)$ / sharesshares	Feb. 11, 2021USD ($)$ / sharesshares	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)	Nov. 30, 2020USD ($)shares	Feb. 25, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Proceeds from issuance of common stock	$ 18,300,000			$ 41,400,000	$ 971,000
Cash offering costs				$ 3,300,000
Number of shares issued | shares			5,772	5,914,284
Share price per share | $ / shares				$ 7
Warrants to purchase shares | shares	1,759,035			2,957,142
Warrants exercise price | $ / shares				$ 7
Warrant expire date				Feb. 11, 2026
Warrants grant date fair value | $ / shares				$ 4.84
Warrants aggregate grant date fair value				$ 14,312,567
Warrants stock price | $ / shares				$ 7.53
Warrants contractual term				2 years 6 months
Price per share | $ / shares			$ 6.51
Trade payable			$ 37,576
Sale of stock, shares | shares	781,615				170,963
[custom:WarrantIssued-0]							$ 211,976
Share-based Payment Arrangement, Noncash Expense					$ 656,283	$ 363,027
Weighted average remaining vesting period					1 year 8 months 12 days
Stock Options [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Payment Arrangement, Noncash Expense					$ 600,000	$ 400,000
Unrecognized stock-based compensation expense					$ 1,600,000
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants to purchase shares | shares	152,439
Warrants exercise price | $ / shares	$ 9.84
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants to purchase shares | shares							6,400
Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants to purchase shares | shares							20,000
Market Offering Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, shares | shares		25,000,000
Measurement Input, Risk Free Interest Rate [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants, measurement input				0.11	0.47
Measurement Input, Price Volatility [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants, measurement input				113.1				113
Measurement Input, Expected Dividend Rate [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants, measurement input				0	0
Measurement Input, Share Price [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants, measurement input | $ / shares					8.91
Measurement Input, Share Price [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants, measurement input					9.31
Measurement Input, Expected Term [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants contractual term					2 years 6 months
Measurement Input, Expected Term [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants contractual term					3 years 6 months

Summary of Potentially Dilutive

Summary of Potentially Dilutive Common Stock Equivalents Excluded from Diluted Net Loss Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents excluded from diluted net loss per share	5,039,683	1,573,504
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents excluded from diluted net loss per share	4,554,471	1,360,883
Options Held [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents excluded from diluted net loss per share	485,212	212,622

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($) $ in Millions	Jun. 08, 2021	Sep. 30, 2021
Related Party Transaction [Line Items]
Common ownership and shareholder holding, percentage on common stock	10.00%
Veno Valve [Member]
Related Party Transaction [Line Items]
Due to related parties		$ 0.6