enVVeno Medical (NVNO) 10-K 29 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Feb. 27, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-38325
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 29.2
Entity Common Stock, Shares Outstanding		13,317,000
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	688
Auditor Name	Marcum LLP
Auditor Location	New York, NY

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 3,620	$ 4,555
Short-term investments	42,792	34,489
Prepaid expenses and other current assets	511	392
Total Current Assets	46,923	39,436
Property and equipment, net	334	521
Operating lease right-of-use assets, net	1,347	1,673
Security deposits and other assets	31	31
Total Assets	48,635	41,661
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	1,033	1,216
Current portion of operating lease liabilities	338	314
Total Current Liabilities	1,371	1,530
Long-term operating lease liabilities	1,064	1,402
Total Liabilities	2,435	2,932
Commitments and Contingencies
Stockholders’ Equity:
Preferred stock, par value $0.00001, 10,000 shares authorized: no shares issued or outstanding
Common stock, par value $0.00001, 250,000 shares authorized, 13,317 and 9,472 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively
Additional paid-in capital	176,236	145,249
Accumulated deficit	(130,036)	(106,520)
Total Stockholders’ Equity	46,200	38,729
Total Liabilities and Stockholders’ Equity	$ 48,635	$ 41,661

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	250,000	250,000
Common stock, shares issued	13,317	9,472
Common stock, shares outstanding	13,317	9,472

Statements of Operations

Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating Expenses:
Research and development expenses	$ 13,583	$ 9,914
Selling, general and administrative expenses	11,655	15,018
Loss from Operations	(25,238)	(24,932)
Other Income:
Realized gain from sales of trading securities	1,074	53
Unrealized gain from trading securities	468	49
Interest income	180	161
Total Other Income	1,722	263
Net Loss	$ (23,516)	$ (24,669)
Net Loss Per Basic Common Share:	$ (1.91)	$ (2.20)
Net Loss Per Diluted Common Share:	$ (1.91)	$ (2.20)
Weighted Average Number of Common Shares Outstanding:
Basic	12,301	11,230
Diluted	12,301	11,230

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2021		$ 136,255	$ (81,851)	$ 54,404
Balance, shares at Dec. 31, 2021	9,470
Shared-Based Compensation		8,994		8,994
Shared-Based Compensation, shares	2
Net loss			(24,669)	(24,669)
Balance at Dec. 31, 2022		145,249	(106,520)	38,729
Balance, shares at Dec. 31, 2022	9,472
Common stock and warrants issued in private placement offering		25,791		25,791
Common stock issued in private placement offering, shares	3,845
Shared-Based Compensation		5,196		5,196
Shared-Based Compensation, shares
Net loss			(23,516)	(23,516)
Balance at Dec. 31, 2023		$ 176,236	$ (130,036)	$ 46,200
Balance, shares at Dec. 31, 2023	13,317

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities
Net loss	$ (23,516)	$ (24,669)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	5,196	8,994
Depreciation and amortization	220	212
Amortization of right-of-use assets	326	313
Unrealized gain from investments	(468)	(49)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(119)	(80)
Security deposit and other assets		23
Accounts payable	(221)	88
Accrued expenses	38	(161)
Operating lease liabilities	(314)	(290)
Net Cash Used in Operating Activities	(18,858)	(15,619)
Cash Flows from Investing Activities
Maturities of investments	48,685	13,688
Purchase of investments	(56,520)	(48,127)
Purchases of property and equipment	(33)	(115)
Net Cash Used in Investing Activities	(7,868)	(34,554)
Cash Flows from Financing Activities
Proceeds from private placement offering	25,791
Net Cash Provided by Financing Activities	25,791
Net Decrease in Cash and Cash Equivalents	(935)	(50,173)
Cash and cash equivalents - Beginning of year	4,555	54,728
Cash and cash equivalents - End of year	$ 3,620	$ 4,555

Business Organization and Natur

Business Organization and Nature of Operations	12 Months Ended
	Dec. 31, 2023
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 late clinical-stage medical device company focused on the advancement of innovative bioprosthetic (tissue-based) solutions to improve the standard of care for the treatment of venous disease. The Company is developing surgical and non-surgical replacement venous valves for patients suffering from severe CVI of the deep venous system of the leg. The Company’s lead product is the VenoValve®, which is a surgical replacement venous valve that is currently being evaluated in a U.S. pivotal study. The Company is also developing a second product called enVVe®, which is a first-in-class, non-surgical, transcatheter based replacement venous valve. The Company is currently conducting pre-clinical testing on enVVe. Both the VenoValve and enVVe are designed to act as one-way valves, to help assist in propelling blood up the veins of the leg, and back to the heart and lungs. The VenoValve and enVVe are being developed first for approval by the U.S. Food and Drug Administration (FDA). We expect the VenoValve to be eligible for FDA approval first, followed two to three years later by enVVe. If approved, we expect the VenoValve and enVVe to co-exist, with the VenoValve as a surgical replacement venous valve option and enVVe as a non-surgical replacement venous valve option

Management_s Liquidity Plan

Management’s Liquidity Plan	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Management’s Liquidity Plan	Note 2 – Management’s Liquidity Plan As of December 31, 2023, the Company had a cash balance of $ 3.6 42.8 45.6

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Significant Accounting Policies	Note 3 – Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. Significant estimates and assumptions include the valuation allowance related to the Company’s deferred tax assets, and the valuation of warrants. Investments We consider all highly liquid interest-earning investments with a maturity of three months or less at the date of purchase to be cash equivalents. The fair values of these investments approximate their carrying values. Investments with original maturities of greater than three months and remaining maturities of less than one year are classified as short-term investments. Investments with maturities beyond one year are classified as long-term investments. Debt investments are classified as trading securities and realized gains and losses are recorded using the specific identification method. Changes in fair value, excluding credit losses and impairments, are recorded in unrealized gains (losses) from investments. Fair value is calculated based on publicly available market information. If the cost of an investment exceeds its fair value, we evaluate, among other factors, general market conditions, credit quality of debt instrument issuers, and the extent to which the fair value is less than cost. We recognize interest income based on the stated coupon rate of the investments purchased. Property and Equipment, Net Property and equipment are stated at cost, net of accumulated depreciation using the straight-line method over their estimated useful lives, which range from 5 7 Impairment of Long-lived Assets The Company reviews for the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment loss would be recognized when estimated future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. ENVVENO MEDICAL CORPORATION NOTES TO FINANCIAL STATEMENTS Income Taxes The Company follows the asset and liability method of accounting for income taxes under ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2023 and December 31, 2022. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the guidance of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) ASC 820 “Fair Value Measurements and Disclosures” (“ASC 820”) which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. FASB ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 Quoted prices available in active markets for identical assets or liabilities trading in active markets. Level 2 Observable inputs other than quoted prices included in Level 1, such as quotable prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar valuation techniques that use significant unobservable inputs. Financial instruments, including accounts payable are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. 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 shares 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. ENVVENO MEDICAL CORPORATION NOTES TO FINANCIAL STATEMENTS Stock-Based Compensation The Company has an Equity Incentive Plan under which the Board of Directors may grant restricted stock or stock options to employees and nonemployees. The accounting treatment for share-based payments to employees and non-employees is substantially equivalent. Share-based compensation cost is recorded for all option grants and awards of non-vested stock based on the grant date fair value of the award, and is recognized over the service period required for the award. The fair value of the Company’s stock options is estimated at the date of grant using the Black-Scholes based option valuation model. For the expected term, the Company uses SEC Staff Accounting Bulletin No. 107 simplified method for “plain vanilla” options with following characteristics: (i) the share options are granted at the market price on the grant date; (ii) exercisability is conditional on performing service through the vesting date on most options; (iii) if an employee terminates service prior to vesting, the employee would forfeit the share options; (iv) if an employee terminates service after vesting, the employee would have 30 to 90 days to exercise the share options; and (v) the share options are nontransferable and nonhedgeable. The Company estimated the expected term of the options using the simplified method. The Company uses its stock’s historical market information to calculate volatility used in estimating fair value of options granted. The volatility assumption is based on the historical volatility of the Company’s common stock with an equivalent remaining expected term. The risk-free interest rate is based on the implied yield available on U.S. treasury zero-coupon issues with an equivalent remaining expected term. The dividend yield assumption is based on the Company’s history and expectation of future dividend payouts on the common stock. For option grants without performance conditions, the Company recognizes compensation expense over the requisite service period ratably, recognizing expense for each tranche of each grant starting on the grant date. For grants that have both service and performance conditions, the Company recognizes compensation expense using the graded attribution method. Compensation expense for grants with performance conditions is recognized only for those awards expected to vest. Forfeitures of unvested stock options are recorded when they occur. Loss Contingencies The Company will accrue an estimated loss if information available before the financial statements are issued or are available to be issued indicates that it is probable that an asset had been impaired or a liability had been incurred at the date of the financial statements and the amount of loss can be reasonably estimated. ENVVENO MEDICAL CORPORATION NOTES TO FINANCIAL STATEMENTS

Concentrations

Concentrations	12 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
Concentrations	Note 4 – 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 3.4

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Investments	Note 5 – Investments The components of investments were as follows at December 31, 2023 and December 31, 2022: Schedule of Components of Investments (In thousands) December 31, 2023 December 31, 2022 Cash Short-Term Cash Short-Term Fair Value Level 1 U.S. Government securities $ 3,187 $ 42,792 $ 4,040 $ 34,489 Total debt investments $ 3,187 $ 42,792 $ 4,040 $ 34,489 Unrealized gains of $ 0.5 million and unrealized losses of $ 0.1

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 6 – Property and Equipment As of December 31, 2023, and 2022, property and equipment consist of the following: Schedule of Property and Equipment December 31, (In thousands) 2023 2022 Laboratory equipment $ 548 $ 524 Computer equipment and software 482 473 Furniture and fixtures and leasehold improvements 373 373 Total property and equipment 1,403 1,370 Less: accumulated depreciation (1,069 ) (849 ) Property and equipment, net $ 334 $ 521 Depreciation expense was $ 0.2 0.2 ENVVENO MEDICAL CORPORATION NOTES TO FINANCIAL STATEMENTS

Right-of-Use Assets and Lease L

Right-of-Use Assets and Lease Liabilities	12 Months Ended
	Dec. 31, 2023
Right-of-use Assets And Lease Liabilities
Right-of-Use Assets and Lease Liabilities	Note 7 – Right-of-Use Assets and Lease Liabilities On November 17, 2021, the Company amended its operating lease for its manufacturing facility in Irvine, California, to extend the term an additional 60 30,206 7,254 The Company has no other operating or financing leases with terms greater than 12 months. The Company determined the lease liabilities using the Company’s estimated incremental borrowing rate of 3.95 Our operating lease cost is as follows (in thousands) Schedule of Operating Lease Cost For the Year Ended December 31, 2023 Operating lease cost $ 389 Supplemental cash flow information related to our operating lease is as follows: Schedule of Supplemental Cash Flow Information Related to Operating Lease (Dollars in thousands) For the Year Ended December 31, 2023 Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 376 Remaining lease term and discount rate for our operating lease is as follows: Schedule of Operating Remaining Lease Term and Discount Rate December 31, 2023 Remaining lease term 3.7 Discount rate 3.95 % Maturity of our lease liabilities by fiscal year for our operating lease is as follows: Schedule of Maturity of Lease Liabilities (In thousands) Year ended December 31, 2024 $ 387 Year ended December 31, 2025 399 Year ended December 31, 2026 411 Year ended December 31, 2027 315 Total $ 1,512 Less: Imputed interest (110 ) Present value of our lease liability $ 1,402 ENVVENO MEDICAL CORPORATION NOTES TO FINANCIAL STATEMENTS

Accounts payable, accrued expen

Accounts payable, accrued expenses and other current liabilities	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Accounts payable, accrued expenses and other current liabilities	Note 8 – Accounts payable, accrued expenses and other current liabilities As of December 31, 2023 and 2022, accounts payable, accrued expenses and other current liabilities consist of the following: Schedule of Accounts Payable Accrued Expenses and Other Current Liabilities December 31, (In thousands) 2023 2022 Accounts Payable $ 427 $ 648 Accrued compensation costs 478 391 Other 128 177 Accrued expenses $ 1,033 $ 1,216

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 9 – Income Taxes The following summarizes the Company’s income tax provision (benefit): Schedule of Income Tax Provision (Benefit) For the Years Ended (Dollars in thousands) 2023 2022 Federal: Current $ - $ - Federal: Current $ - $ - Deferred (4,165 ) (3,773 ) Federal: Deferred (4,165 ) (3,773 ) State and local: Current - - State and local: Current - - Deferred (1,388 ) (1,258 ) State and local: Deferred (1,388 ) (1,258 ) Federal, State and Local, Tax Expense (5,553 ) (5,031 ) Change in valuation allowance 5,553 5,031 Income tax provision (benefit) $ - $ - The reconciliation between the U.S. statutory federal income tax rate and the Company’s effective tax rate for the year’s ended December 31, 2023 and 2022 is as follows: Schedule of Effective Income Tax Rate Reconciliation For the Years Ended 2023 2022 Tax benefit at federal statutory rate (21.0 )% (21.0 )% State taxes, net of federal benefit (7.0 )% (5.1 )% Nondeductible compensation 4.7 % 5.7 % Permanent differences 0.2 % 0.1 % True up adjustments (0.5 )% (0.1 )% Change in valuation allowance 23.6 % 20.4 % Effective income tax rate 0.0 % 0.0 % ENVVENO MEDICAL CORPORATION NOTES TO FINANCIAL STATEMENTS Significant components of the Company’s deferred tax assets at December 31, 2023 and 2022 are as follows: Schedule of Deferred Tax Assets and Liabilities December 31, (In thousands) 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 17,229 $ 14,747 Research and development credit carryforwards 186 186 Research and development expense 5,367 2,527 Intangible assets 218 247 Operating lease liability 393 480 Stock-based compensation 1,889 1,554 Impairment loss 137 137 Total gross deferred tax assets 25,419 19,878 Deferred tax liabilities Operating lease asset (377 ) (468 ) Unrealized gain on short-term investments (131 ) - Property and equipment (19 ) (71 ) Total net deferred tax assets 24,892 19,339 Less: valuation allowance (24,892 ) (19,339 ) Total $ - $ - ASC 740 requires that the tax benefit of net operating losses, temporary differences and credit carryforwards be recorded as an asset to the extent that management assesses that realization is “more likely than not.” Realization of the future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carryforward period. Because of the Company’s history of operating losses, management believes that recognition of the deferred tax assets arising from the above listed future tax benefits is currently not more likely than not to be realized and, accordingly, has provided a full valuation allowance. The valuation allowance increased by $ 5.6 5.0 Under Section 382 of the Internal Revenue Code of 1986, as amended, if a corporation undergoes an “ownership change” (generally defined as a greater than 50% change (by value) in its equity ownership over a three-year period), the corporation’s ability to use its pre-change net operating loss, or NOL, carryforwards and other pre-change tax attributes to offset its post-change income taxes may be limited. In accordance with Section 382 of the Internal Revenue Code, the usage of the Company’s NOL carry forwards are subject to annual limitations due to greater than 50 At December 31, 2023 and 2022, the Company had post-ownership change net operating loss carryforwards for federal income tax purposes of approximately $ 61.7 52.7 12.0 10.4 50.3 80 0.2 As of December 31, 2023 and 2022, the Company had net operating loss carryforwards for state income tax purposes of approximately $ 61.1 52.5 The Company files income tax returns in the U.S. federal jurisdiction as well as California and local jurisdictions and is subject to examination by those taxing authorities. The Company’s federal income taxes for the years beginning in 2019 remain subject to examination. The Company’s state and local income tax returns for the years beginning in 2020 remain subject to examination. No tax audits were initiated during 2023 or 2022. Management has evaluated and concluded that there were no material uncertain tax positions requiring recognition in the Company’s financial statements as of December 31, 2023 and 2022. The Company does not expect any significant changes in its unrecognized tax benefits within twelve months of the reporting date. The Company’s policy is to classify assessments, if any, for tax related interest as interest expense and penalties as general and administrative expenses in the statements of operations. ENVVENO MEDICAL CORPORATION NOTES TO FINANCIAL STATEMENTS

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10 – Commitments and Contingencies Litigation Claims and Assessments In the normal course of business, the Company may be involved in legal proceedings, claims and assessments. The Company records legal costs associated with loss contingencies as incurred and accrues for all probable and estimable settlements. Robert Rankin Complaints T he Company and its Chief Executive Officer are parties to civil complaints filed by a former employee, Robert Rankin, who resigned as the Company’s Chief Financial Officer, Secretary, and Treasurer on March 30, 2020. Originally filed as two separate complaints, Rankin v. Hancock Jaffe Laboratories, Inc. et al., Case No. 30-2020-01146555-CU-WR-CJC and Rankin v. Hancock Jaffe Laboratories, Inc. et al., Case No. 30-2020-01157857, they have now been consolidated and will be tried concurrently. The complaints assert causes of action alleging constructive discharge in violation of public policy, failure to timely pay Mr. Rankin’s accrued and unused vacation and three months’ severance under his July 16, 2018 employment agreement, Retaliation under Labor Code Section 1102.5, unfair competition, defamation, and sex-based discrimination, and seeks damages for back pay, lost and unpaid wages, emotional and mental distress, consequential damages, punitive damages, compensatory damages and attorney’s fees and costs. The Company denies all claims in these matters, is vigorously defending same, and has asserted counterclaims against Mr. Rankin contending that he breached his fiduciary duty and employment agreement with the Company and the Company incurred damages as a result. The Company continues to believe it has meritorious defenses to these matters, which are currently set for trial on May 13, 2024. As of the date of these financial statements, the amount of loss or range of loss associated with these complaints, if any, cannot be reasonably estimated. Accordingly, no amounts related to these complaints are accrued as of December 31, 2023. ENVVENO MEDICAL CORPORATION NOTES TO CONDENSED FINANCIAL STATEMENTS

Stockholders_ Equity

Stockholders’ Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Stockholders’ Equity	Note 11 – Stockholders’ Equity Equity Issuance The Company entered into a financing transaction in 2023 whereby it raised net proceeds of $ 25.8 3.8 9.6 1.0 0.2 6.94 Transaction fees in connection with the capital raise were $ 2.2 If the performance conditions are not achieved, 50% of the performance warrants will expire in October 2024 and 50% in October 2026. If the performance conditions are achieved the holder has 30 days to exercise. The warrants have a fair value of $ 19.7 Schedule of Estimated Fair values and Assumptions Expected term in years 2.07 Volatility 76.4 % Risk free interest rate 5.07 % Dividend yield 0.0 % Warrants A summary of warrant activity during the years ended December 31, 2023 and 2022 is presented below: Schedule of Stock Warrant Activity Common Stock Number of Weighted Average Exercise Price Weighted Average Remaining Life in Years Intrinsic Value (In thousands) Outstanding, January 1, 2022 6,311,705 $ 8.80 Issued 75,000 4.85 Exercised - - Cancelled (35,047 ) 109.50 Outstanding, January 1, 2023 6,351,658 $ 8.21 6.01 $ 369 Issued 10,889,238 6.93 Exercised - - Cancelled (111,481 ) 146.94 Outstanding and exercisable, December 31, 2023 17,129,415 $ 6.49 3.03 $ 574 ENVVENO MEDICAL CORPORATION NOTES TO FINANCIAL STATEMENTS

Share Based Compensation

Share Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share Based Compensation	Note 12 – Share Based Compensation Omnibus Incentive Plan The Company issues share-based awards under its Company’s 2016 Omnibus Incentive Plan, which enables the Company to grant stock options, stock appreciation rights, restricted stock, restricted stock units, unrestricted stock, other share based awards and cash awards to associates, directors, consultants, and advisors of the Company and its affiliates, and to improve the ability of the Company to attract, retain, and motivate individuals upon whom the Company’s sustained growth and financial success depend, by providing such persons with an opportunity to acquire or increase their proprietary interest in the Company. Stock options granted under the 2016 Plan may be non-qualified stock options or incentive stock options, within the meaning of Section 422(b) of the Internal Revenue Code of 1986, except that stock options granted to outside directors and any consultants or advisers providing services to the Company or an affiliate shall in all cases be non-qualified stock options. The option price must be at least 100% of the fair market value on the date of grant and if issued to a 10% or greater shareholder must be 110% of the fair market value on the date of the grant. The 2016 Plan is to be administered by the Board, which has discretion over the awards and grants thereunder. No awards may be issued after November 21, 2026. The Plan was adopted in 2016 and amended in 2018, 2020 and 2021 to increase the number of shares authorized to be awarded under the Plan. The number of shares subject to the Plan is automatically adjusted from time to time such that shares authorized under the plan shall always be equal to at least 20 6,939,796 20 Stock Options The fair value of each option grant is estimated at the grant date using the Black Scholes method. The following assumptions were used in estimating fair value: Schedule of Stock Options Assumptions in Estimated Fair Value 2023 2022 Expected term 5.5 6.5 5.5 6.5 Volatility 92.5 93.5 % 96.0 101.5 % Risk free interest rate 3.63 4.23 % 1.88 4.74 % Dividend yield 0.00 % 0.00 % A summary of the option activity during the years ended December 31, 2023 and 2022 is presented below: Schedule of Stock Option Activity Weighted Weighted Average Average Remaining Aggregate Number of Exercise Life Intrinsic Options Price In Years Value Outstanding, January 1, 2022 3,441,907 $ 9.16 Granted 413,612 6.71 Forfeited (61,067 ) 7.87 Outstanding, December 31, 2022 3,794,452 $ 8.91 8.5 $ - Granted 1,026,424 3.88 Forfeited (35,600 ) 6.72 Outstanding, December 31, 2023 4,785,276 $ 7.85 8.0 $ 1,444 Exercisable, December 31, 2023 3,189,735 $ 9.29 7.3 $ 33 The Company includes share-based compensation expense in selling, general and administrative expenses, and recognized $ 5.2 9.0 As of December 31, 2023, there was $ 5.9 1.9 Restricted Stock Units The Company also issues restricted shares and restricted stock units under the 2016 Plan. A summary of the restricted share and restricted stock units activity during the years ended December 31, 2023 and 2022 is presented below: Schedule of Restricted Stock Units Number of Restricted Shares Outstanding, January 1, 2022 402,082 Granted - Shares vested (2,082 ) Outstanding, December 31, 2022 400,000 Granted - Shares Vested - Outstanding, December 31, 2023 400,000

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. Significant estimates and assumptions include the valuation allowance related to the Company’s deferred tax assets, and the valuation of warrants.
Investments	Investments We consider all highly liquid interest-earning investments with a maturity of three months or less at the date of purchase to be cash equivalents. The fair values of these investments approximate their carrying values. Investments with original maturities of greater than three months and remaining maturities of less than one year are classified as short-term investments. Investments with maturities beyond one year are classified as long-term investments. Debt investments are classified as trading securities and realized gains and losses are recorded using the specific identification method. Changes in fair value, excluding credit losses and impairments, are recorded in unrealized gains (losses) from investments. Fair value is calculated based on publicly available market information. If the cost of an investment exceeds its fair value, we evaluate, among other factors, general market conditions, credit quality of debt instrument issuers, and the extent to which the fair value is less than cost. We recognize interest income based on the stated coupon rate of the investments purchased.
Property and Equipment, Net	Property and Equipment, Net Property and equipment are stated at cost, net of accumulated depreciation using the straight-line method over their estimated useful lives, which range from 5 7
Impairment of Long-lived Assets	Impairment of Long-lived Assets The Company reviews for the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment loss would be recognized when estimated future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. ENVVENO MEDICAL CORPORATION NOTES TO FINANCIAL STATEMENTS
Income Taxes	Income Taxes The Company follows the asset and liability method of accounting for income taxes under ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2023 and December 31, 2022. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the guidance of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) ASC 820 “Fair Value Measurements and Disclosures” (“ASC 820”) which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. FASB ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 Quoted prices available in active markets for identical assets or liabilities trading in active markets. Level 2 Observable inputs other than quoted prices included in Level 1, such as quotable prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar valuation techniques that use significant unobservable inputs. Financial instruments, including accounts payable are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments.
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 shares 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. ENVVENO MEDICAL CORPORATION NOTES TO FINANCIAL STATEMENTS
Stock-Based Compensation	Stock-Based Compensation The Company has an Equity Incentive Plan under which the Board of Directors may grant restricted stock or stock options to employees and nonemployees. The accounting treatment for share-based payments to employees and non-employees is substantially equivalent. Share-based compensation cost is recorded for all option grants and awards of non-vested stock based on the grant date fair value of the award, and is recognized over the service period required for the award. The fair value of the Company’s stock options is estimated at the date of grant using the Black-Scholes based option valuation model. For the expected term, the Company uses SEC Staff Accounting Bulletin No. 107 simplified method for “plain vanilla” options with following characteristics: (i) the share options are granted at the market price on the grant date; (ii) exercisability is conditional on performing service through the vesting date on most options; (iii) if an employee terminates service prior to vesting, the employee would forfeit the share options; (iv) if an employee terminates service after vesting, the employee would have 30 to 90 days to exercise the share options; and (v) the share options are nontransferable and nonhedgeable. The Company estimated the expected term of the options using the simplified method. The Company uses its stock’s historical market information to calculate volatility used in estimating fair value of options granted. The volatility assumption is based on the historical volatility of the Company’s common stock with an equivalent remaining expected term. The risk-free interest rate is based on the implied yield available on U.S. treasury zero-coupon issues with an equivalent remaining expected term. The dividend yield assumption is based on the Company’s history and expectation of future dividend payouts on the common stock. For option grants without performance conditions, the Company recognizes compensation expense over the requisite service period ratably, recognizing expense for each tranche of each grant starting on the grant date. For grants that have both service and performance conditions, the Company recognizes compensation expense using the graded attribution method. Compensation expense for grants with performance conditions is recognized only for those awards expected to vest. Forfeitures of unvested stock options are recorded when they occur.
Loss Contingencies	Loss Contingencies The Company will accrue an estimated loss if information available before the financial statements are issued or are available to be issued indicates that it is probable that an asset had been impaired or a liability had been incurred at the date of the financial statements and the amount of loss can be reasonably estimated.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Schedule of Components of Investments	The components of investments were as follows at December 31, 2023 and December 31, 2022: Schedule of Components of Investments (In thousands) December 31, 2023 December 31, 2022 Cash Short-Term Cash Short-Term Fair Value Level 1 U.S. Government securities $ 3,187 $ 42,792 $ 4,040 $ 34,489 Total debt investments $ 3,187 $ 42,792 $ 4,040 $ 34,489

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	As of December 31, 2023, and 2022, property and equipment consist of the following: Schedule of Property and Equipment December 31, (In thousands) 2023 2022 Laboratory equipment $ 548 $ 524 Computer equipment and software 482 473 Furniture and fixtures and leasehold improvements 373 373 Total property and equipment 1,403 1,370 Less: accumulated depreciation (1,069 ) (849 ) Property and equipment, net $ 334 $ 521

Right-of-Use Assets and Lease_2

Right-of-Use Assets and Lease Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Right-of-use Assets And Lease Liabilities
Schedule of Operating Lease Cost	Our operating lease cost is as follows (in thousands) Schedule of Operating Lease Cost For the Year Ended December 31, 2023 Operating lease cost $ 389
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 (Dollars in thousands) For the Year Ended December 31, 2023 Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 376
Schedule of Operating Remaining Lease Term and Discount Rate	Remaining lease term and discount rate for our operating lease is as follows: Schedule of Operating Remaining Lease Term and Discount Rate December 31, 2023 Remaining lease term 3.7 Discount rate 3.95 %
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 (In thousands) Year ended December 31, 2024 $ 387 Year ended December 31, 2025 399 Year ended December 31, 2026 411 Year ended December 31, 2027 315 Total $ 1,512 Less: Imputed interest (110 ) Present value of our lease liability $ 1,402

Accounts payable, accrued exp_2

Accounts payable, accrued expenses and other current liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accounts Payable Accrued Expenses and Other Current Liabilities	As of December 31, 2023 and 2022, accounts payable, accrued expenses and other current liabilities consist of the following: Schedule of Accounts Payable Accrued Expenses and Other Current Liabilities December 31, (In thousands) 2023 2022 Accounts Payable $ 427 $ 648 Accrued compensation costs 478 391 Other 128 177 Accrued expenses $ 1,033 $ 1,216

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision (Benefit)	The following summarizes the Company’s income tax provision (benefit): Schedule of Income Tax Provision (Benefit) For the Years Ended (Dollars in thousands) 2023 2022 Federal: Current $ - $ - Federal: Current $ - $ - Deferred (4,165 ) (3,773 ) Federal: Deferred (4,165 ) (3,773 ) State and local: Current - - State and local: Current - - Deferred (1,388 ) (1,258 ) State and local: Deferred (1,388 ) (1,258 ) Federal, State and Local, Tax Expense (5,553 ) (5,031 ) Change in valuation allowance 5,553 5,031 Income tax provision (benefit) $ - $ -
Schedule of Effective Income Tax Rate Reconciliation	The reconciliation between the U.S. statutory federal income tax rate and the Company’s effective tax rate for the year’s ended December 31, 2023 and 2022 is as follows: Schedule of Effective Income Tax Rate Reconciliation For the Years Ended 2023 2022 Tax benefit at federal statutory rate (21.0 )% (21.0 )% State taxes, net of federal benefit (7.0 )% (5.1 )% Nondeductible compensation 4.7 % 5.7 % Permanent differences 0.2 % 0.1 % True up adjustments (0.5 )% (0.1 )% Change in valuation allowance 23.6 % 20.4 % Effective income tax rate 0.0 % 0.0 %
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets at December 31, 2023 and 2022 are as follows: Schedule of Deferred Tax Assets and Liabilities December 31, (In thousands) 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 17,229 $ 14,747 Research and development credit carryforwards 186 186 Research and development expense 5,367 2,527 Intangible assets 218 247 Operating lease liability 393 480 Stock-based compensation 1,889 1,554 Impairment loss 137 137 Total gross deferred tax assets 25,419 19,878 Deferred tax liabilities Operating lease asset (377 ) (468 ) Unrealized gain on short-term investments (131 ) - Property and equipment (19 ) (71 ) Total net deferred tax assets 24,892 19,339 Less: valuation allowance (24,892 ) (19,339 ) Total $ - $ -

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Estimated Fair values and Assumptions	Schedule of Estimated Fair values and Assumptions Expected term in years 2.07 Volatility 76.4 % Risk free interest rate 5.07 % Dividend yield 0.0 %
Schedule of Stock Warrant Activity	A summary of warrant activity during the years ended December 31, 2023 and 2022 is presented below: Schedule of Stock Warrant Activity Common Stock Number of Weighted Average Exercise Price Weighted Average Remaining Life in Years Intrinsic Value (In thousands) Outstanding, January 1, 2022 6,311,705 $ 8.80 Issued 75,000 4.85 Exercised - - Cancelled (35,047 ) 109.50 Outstanding, January 1, 2023 6,351,658 $ 8.21 6.01 $ 369 Issued 10,889,238 6.93 Exercised - - Cancelled (111,481 ) 146.94 Outstanding and exercisable, December 31, 2023 17,129,415 $ 6.49 3.03 $ 574

Share Based Compensation (Table

Share Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Options Assumptions in Estimated Fair Value	The fair value of each option grant is estimated at the grant date using the Black Scholes method. The following assumptions were used in estimating fair value: Schedule of Stock Options Assumptions in Estimated Fair Value 2023 2022 Expected term 5.5 6.5 5.5 6.5 Volatility 92.5 93.5 % 96.0 101.5 % Risk free interest rate 3.63 4.23 % 1.88 4.74 % Dividend yield 0.00 % 0.00 %
Schedule of Stock Option Activity	A summary of the option activity during the years ended December 31, 2023 and 2022 is presented below: Schedule of Stock Option Activity Weighted Weighted Average Average Remaining Aggregate Number of Exercise Life Intrinsic Options Price In Years Value Outstanding, January 1, 2022 3,441,907 $ 9.16 Granted 413,612 6.71 Forfeited (61,067 ) 7.87 Outstanding, December 31, 2022 3,794,452 $ 8.91 8.5 $ - Granted 1,026,424 3.88 Forfeited (35,600 ) 6.72 Outstanding, December 31, 2023 4,785,276 $ 7.85 8.0 $ 1,444 Exercisable, December 31, 2023 3,189,735 $ 9.29 7.3 $ 33
Schedule of Restricted Stock Units	The Company also issues restricted shares and restricted stock units under the 2016 Plan. A summary of the restricted share and restricted stock units activity during the years ended December 31, 2023 and 2022 is presented below: Schedule of Restricted Stock Units Number of Restricted Shares Outstanding, January 1, 2022 402,082 Granted - Shares vested (2,082 ) Outstanding, December 31, 2022 400,000 Granted - Shares Vested - Outstanding, December 31, 2023 400,000

Management_s Liquidity Plan (De

Management’s Liquidity Plan (Details Narrative) $ in Millions	Dec. 31, 2023 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash	$ 3.6
Investments	42.8
Working capital	$ 45.6

Significant Accounting Polici_3

Significant Accounting Policies (Details Narrative)	Dec. 31, 2023
Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	5 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	7 years

Concentrations (Details Narrati

Concentrations (Details Narrative)	Dec. 31, 2023 USD ($)
Risks and Uncertainties [Abstract]
FDIC amount	$ 250,000
Uninsured amount	$ 3,400,000

Schedule of Components of Inves

Schedule of Components of Investments (Details) - Fair Value, Inputs, Level 1 [Member] - Debt Securities [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Platform Operator, Crypto-Asset [Line Items]
Cash equivalents	$ 3,187	$ 4,040
Short-term investment	42,792	34,489
US Government Debt Securities [Member]
Platform Operator, Crypto-Asset [Line Items]
Cash equivalents	3,187	4,040
Short-term investment	$ 42,792	$ 34,489

Investments (Details Narrative)

Investments (Details Narrative) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Cash and Cash Equivalents [Abstract]
Unrealized gains	$ 0.5
Unrealized losses	$ 0.1

Schedule of Property and Equipm

Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 1,403	$ 1,370
Less: accumulated depreciation	(1,069)	(849)
Property and equipment, net	334	521
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	548	524
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	482	473
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 373	$ 373

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0.2	$ 0.2

Schedule of Operating Lease Cos

Schedule of Operating Lease Cost (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Right-of-use Assets And Lease Liabilities
Operating lease cost	$ 389

Schedule of Supplemental Cash F

Schedule of Supplemental Cash Flow Information Related to Operating Lease (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 17, 2021	Dec. 31, 2023
Right-of-use Assets And Lease Liabilities
Cash paid for amounts included in the measurement of lease liabilities	$ 30,206	$ 376

Schedule of Operating Remaining

Schedule of Operating Remaining Lease Term and Discount Rate (Details)	Dec. 31, 2023
Right-of-use Assets And Lease Liabilities
Remaining lease term	3 years 8 months 12 days
Discount rate	3.95%

Schedule of Maturity of Lease L

Schedule of Maturity of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Right-of-use Assets And Lease Liabilities
Year ended December 31, 2024	$ 387
Year ended December 31, 2025	399
Year ended December 31, 2026	411
Year ended December 31, 2027	315
Total	1,512
Less: Imputed interest	(110)
Present value of our lease liability	$ 1,402

Right-of-Use Assets and Lease_3

Right-of-Use Assets and Lease Liabilities (Details Narrative) - USD ($) $ in Thousands		12 Months Ended
	Nov. 17, 2021	Dec. 31, 2023
Right-of-use Assets And Lease Liabilities
Operating lease renewal term	60 months
Initial lease rate per month	$ 30,206	$ 376
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.
Discount rate		3.95%

Schedule of Accounts Payable Ac

Schedule of Accounts Payable Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accounts Payable	$ 427	$ 648
Accrued compensation costs	478	391
Other	128	177
Accrued expenses	$ 1,033	$ 1,216

Schedule of Income Tax Provisio

Schedule of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal: Current
Federal: Deferred	(4,165)	(3,773)
State and local: Current
State and local: Deferred	(1,388)	(1,258)
Federal, State and Local, Tax Expense	(5,553)	(5,031)
Change in valuation allowance	5,553	5,031
Income tax provision (benefit)

Schedule of Effective Income Ta

Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Tax benefit at federal statutory rate	(21.00%)	(21.00%)
State taxes, net of federal benefit	(7.00%)	(5.10%)
Nondeductible compensation	4.70%	5.70%
Permanent differences	0.20%	0.10%
True up adjustments	(0.50%)	(0.10%)
Change in valuation allowance	23.60%	20.40%
Effective income tax rate	0%	0%

Schedule of Deferred Tax Assets

Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 17,229	$ 14,747
Research and development credit carryforwards	186	186
Research and development expense	5,367	2,527
Intangible assets	218	247
Operating lease liability	393	480
Stock-based compensation	1,889	1,554
Impairment loss	137	137
Total gross deferred tax assets	25,419	19,878
Operating lease asset	(377)	(468)
Unrealized gain on short-term investments	(131)
Property and equipment	(19)	(71)
Total net deferred tax assets	24,892	19,339
Less: valuation allowance	(24,892)	(19,339)
Total

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 5,553	$ 5,031
Research and development tax credit carryforwards	200
Pre-2018 Federal NOL [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expired	12,000
Operating loss carryforwards expired, changes			$ 10,400	$ 10,400
Post-2017 Federal NOL [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expired, changes	$ 50,300
Annual limit of deduction percentage	80%
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 61,700	52,700
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 61,100	$ 52,500
Omnibus Incentive Plan [Member]
Operating Loss Carryforwards [Line Items]
Ownership percentage	20%		50%		50%

Schedule of Estimated Fair valu

Schedule of Estimated Fair values and Assumptions (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Expected term in years	2 years 25 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	76.40%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	5.07%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0%	0%

Schedule of Stock Warrant Activ

Schedule of Stock Warrant Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Number of Warrants, Outstanding	6,351,658	6,311,705
Weighted Average Exercise Price, Outstanding	$ 8.21	$ 8.80
Number of Warrants, Issued	10,889,238	75,000
Weighted Average Exercise Price, Issued	$ 6.93	$ 4.85
Number of Warrants, Exercised
Weighted Average Exercise Price, Exercised
Number of Warrants, Cancelled	(111,481)	(35,047)
Weighted Average Exercise Price, Cancelled	$ 146.94	$ 109.50
Weighted average remaining life in years, Outstanding	6 years 3 days
Intrinsic value, Outstanding	$ 369
Number of Warrants, Outstanding and exercisable	17,129,415	6,351,658
Weighted Average Exercise Price, Outstanding and exercisable	$ 6.49	$ 8.21
Weighted average remaining life in years, Outstanding and exercisable	3 years 10 days
Intrinsic value, Outstanding and exercisable	$ 574	$ 369

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Proceeds from issuance of common stock | $	$ 25.8
Payments of stock issuance costs | $	$ 2.2
Description of warrants	If the performance conditions are not achieved, 50% of the performance warrants will expire in October 2024 and 50% in October 2026. If the performance conditions are achieved the holder has 30 days to exercise.
Warrants and rights outstanding | $	$ 19.7
Performance Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of warrant shares	9,600
Pre-Funded Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of warrant shares	1,000
Placement Agent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of warrant shares	200
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued	3,845
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price | $ / shares	$ 6.94

Schedule of Stock Options Assum

Schedule of Stock Options Assumptions in Estimated Fair Value (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term	2 years 25 days
Volatility, minimum	92.50%	96%
Volatility, maximum	93.50%	101.50%
Risk free interest rate, minimum	3.63%	1.88%
Risk free interest rate, maximum	4.23%	4.74%
Dividend yield	0%	0%
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term	5 years 6 months	5 years 6 months
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term	6 years 6 months	6 years 6 months

Schedule of Stock Option Activi

Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Number of options beginning	3,794,452	3,441,907
Weighted Average Exercise Price Outstanding beginning	$ 8.91	$ 9.16
Number of options granted	1,026,424	413,612
Weighted Average Exercise Price, Granted	$ 3.88	$ 6.71
Number of options forfeited	(35,600)	(61,067)
Weighted Average Exercise Price, Forfeited	$ 6.72	$ 7.87
Weighted Average Remaining life in years	8 years	8 years 6 months
Aggregate intrinsic value
Number of options ending	4,785,276	3,794,452
Weighted Average Exercise Price Outstanding Ending	$ 7.85	$ 8.91
Aggregate intrinsic value	$ 1,444
Number of options exercisable	3,189,735
Weighted Average Exercise Price Outstanding, Exercisable	$ 9.29
Weighted Average Remaining life in years, exercisable	7 years 3 months 18 days
Aggregate intrinsic value	$ 33

Schedule of Restricted Stock Un

Schedule of Restricted Stock Units (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Outstanding shares, beginning	400,000	402,082
Granted
Shares Vested		(2,082)
Outstanding shares, ending	400,000	400,000

Share Based Compensation (Detai

Share Based Compensation (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2018
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation	$ 5,196	$ 8,994
Unrecognized share-based compensation expense	$ 5,900
Vesting period	1 year 10 months 24 days
Selling, General and Administrative Expenses [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation	$ 5,200	$ 9,000
Omnibus Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Ownership percentage	20%		50%	50%
2016 Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options	The option price must be at least 100% of the fair market value on the date of grant and if issued to a 10% or greater shareholder must be 110% of the fair market value on the date of the grant.
Shares authorized	6,939,796
Number of shares authorized greater than minimum percentage	20%