Bluejay Diagnostics (BJDX) 10-K 28 Mar 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 28, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Documents Incorporated by Reference [Text Block]	The registrant intends to file a definitive proxy statement relating to its Annual Meeting of Stockholders within 120 days of the fiscal year ended December 31, 2023. Portions of such definitive proxy statement are incorporated by reference in Part III of the Form 10-K to the extent described therein.
Entity Information [Line Items]
Entity Registrant Name	Bluejay Diagnostics, Inc.
Entity Central Index Key	0001704287
Entity File Number	001-41031
Entity Tax Identification Number	47-3552922
Entity Incorporation, State or Country Code	DE
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Public Float			$ 3,030,130
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	360 Massachusetts Avenue
Entity Address, Address Line Two	Suite 203
Entity Address, City or Town	Acton
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01720
Entity Phone Fax Numbers [Line Items]
City Area Code	(844)
Local Phone Number	327-7078
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	BJDX
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		2,688,448

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor [Table]
Auditor Name	Wolf & Company, P.C.
Auditor Firm ID	392
Auditor Location	Boston, Massachusetts

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,208,516	$ 10,114,990
Prepaid expenses and other current assets	747,263	1,673,480
Deferred offering costs	265,081
Total current assets	3,220,860	11,788,470
Property and equipment, net	1,285,741	1,232,070
Operating lease right-of-use assets	333,267	465,514
Other non-current assets	28,663	35,211
Total assets	4,868,531	13,521,265
Current liabilities:
Accounts payable	491,474	635,818
Operating lease liability, current	162,990	168,706
Accrued expenses	1,116,911	835,730
Total current liabilities	1,771,375	1,640,254
Operating lease liability, non-current	189,987	323,915
Other non-current liabilities	12,321	15,823
Total liabilities	1,973,683	1,979,992
Commitments and contingencies (Note 9)
Stockholders’ equity:
Common stock, $0.0001 par value; 7,500,000 shares authorized; 1,239,140 and 1,010,560 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	124	101
Additional paid-in capital	29,845,714	28,538,274
Accumulated deficit	(26,950,990)	(16,997,102)
Total stockholders’ equity	2,894,848	11,541,273
Total liabilities and stockholders’ equity	$ 4,868,531	$ 13,521,265

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	7,500,000	7,500,000
Common stock, shares issued	1,239,140	1,010,560
Common stock, shares outstanding	1,239,140	1,010,560

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue		$ 249,040
Cost of sales		200,129
Gross profit		48,911
Operating expenses:
Research and development	5,714,574	4,152,152
General and administrative	4,313,200	4,763,114
Sales and marketing	283,443	451,421
Total operating expenses	10,311,217	9,366,687
Operating loss	(10,311,217)	(9,317,776)
Other income (expense):
Impairment of property and equipment		(237,309)
Interest income	164,900	89,673
Other income, net	192,429	168,464
Total other income	357,329	20,828
Net loss	$ (9,953,888)	$ (9,296,948)
Net loss per share - Basic (in Dollars per share)	$ (9.08)	$ (9.22)
Weighted average common shares outstanding:
Weighted average common shares outstanding Basic (in Shares)	1,096,500	1,008,196

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net loss per share - Diluted	$ (9.08)	$ (9.22)
Weighted average common shares outstanding Diluted	1,096,500	1,008,196

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2021	$ 101	$ 28,076,394	$ (7,694,786)	$ 20,381,709
Balance (in Shares) at Dec. 31, 2021	1,005,612
Impact of adoption of ASC 842			(5,368)	(5,368)
Stock-based compensation expense		433,004		433,004
Exercise of stock options		28,876		28,876
Exercise of stock options (in Shares)	3,147
Exercise of common stock Series B Warrants
Exercise of common stock Series B Warrants (in Shares)	1,801
Net loss			(9,296,948)	(9,296,948)
Balance at Dec. 31, 2022	$ 101	28,538,274	(16,997,102)	$ 11,541,273
Balance (in Shares) at Dec. 31, 2022	1,010,560			1,010,560
Stock-based compensation expense		24,385		$ 24,385
Issuance of common stock from exercised RSU's
Issuance of common stock from exercised RSU's (in Shares)	750
RSU tax withholding		(1,453)		(1,453)
RSU tax withholding (in Shares)	(358)
Issuance of common stock to settle accrued bonus, net of shares withheld	$ 1	107,234		107,235
Issuance of common stock to settle accrued bonus, net of shares withheld (in Shares)	12,188
Issuance of common stock, net of issuance costs	$ 22	1,177,274		$ 1,177,296
Issuance of common stock, net of issuance costs (in Shares)	216,000
Exercise of stock options (in Shares)
Net loss			(9,953,888)	$ (9,953,888)
Balance at Dec. 31, 2023	$ 124	$ 29,845,714	$ (26,950,990)	$ 2,894,848
Balance (in Shares) at Dec. 31, 2023	1,239,140			1,239,140

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders’ Equity (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Net of issuance costs	$ 413,544

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (9,953,888)	$ (9,296,948)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	648,708	156,598
Stock-based compensation expense	189,245	433,004
Amortization of right-of-use asset	132,247	149,770
Non-cash interest expense for finance lease	1,305
Impairment of property and equipment	1,787	237,309
Loss on disposal of property and equipment		137
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	926,217	(40,772)
Other non-current assets	6,548	(14,192)
Accounts payable	(235,760)	298,881
Due to related party		(2,000)
Accrued expenses and other current liabilities	(30,279)	336,620
Net cash used in operating activities	(8,313,870)	(7,741,593)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(704,166)	(1,199,270)
Net cash used in investing activities	(704,166)	(1,199,270)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock, gross	1,590,840
Payment for issuance costs of common stock	(413,544)
Payment of tax withholding on obligations on restricted stock units	(59,078)
Payment of deferred offering costs	(1,849)	(20,000)
Proceeds from exercise of stock options		28,876
Payment of finance lease	(4,807)	(801)
Net cash provided by financing activities	1,111,562	8,075
Net decrease in cash and cash equivalents	(7,906,474)	(8,932,788)
Cash and cash equivalents, beginning of period	10,114,990	19,047,778
Cash and cash equivalents, end of period	2,208,516	10,114,990
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION AND NON-CASH INVESTING ACTIVITIES
Cash paid for interest on finance lease	1,305	364
Offering costs included in accounts payable and accrued expenses	263,232
Purchases of property and equipment included in accrued expenses		$ 41,159

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	12 Months Ended
	Dec. 31, 2023
Nature of Operations and Basis of Presentation [Abstract]
NATURE OF OPERATIONS AND BASIS OF PRESENTATION	1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION Business Bluejay Diagnostics, Inc. (“Bluejay” and/or the “Company”) is a medical diagnostics company developing rapid tests using whole blood on its Symphony technology platform (“Symphony”) to improve patient outcomes in critical care settings. The Company’s Symphony platform is a combination of Bluejay’s intellectual property (“IP”) and exclusively licensed and patented IP that consists of a mobile device and single-use test cartridges that if cleared, authorized, or approved by the U.S. Food and Drug Administration (the “FDA”), can provide a solution to a significant market need in the United States. On June 4, 2021, the Company formed Bluejay Spinco, LLC, a wholly-owned subsidiary of the Company, for purposes of further development of the Company’s ALLEREYE diagnostic test. ALLEREYE is a point-of-care device offering healthcare providers a solution for diagnosing Allergic Conjunctivitis. August 2023 Offering On August 24, 2023, the Company entered into a securities purchase agreement with certain institutional and accredited investors (the “Purchase Agreement”) relating to the registered direct offering and sale of 216,000 shares of the Company’s common stock at a purchase price of $7.365 per share (the “August 2023 Offering”). In a concurrent private placement, the Company also issued to such institutional and accredited investors unregistered warrants to purchase up to 216,000 shares of Common Stock (the “Warrants”). Pursuant to the terms of the Purchase Agreement, for each share of Common Stock issued in this offering an accompanying Warrant was issued to the purchaser thereof. Each Warrant is exercisable for one share of Common Stock (the “August 2023 Warrant Shares”) at an exercise price of $7.24 per share, is immediately exercisable upon issuance and will expire five years from the date of issuance. The Warrants were offered and sold at a purchase price of $0.125 per underlying warrant share, which purchase price is included in the offering price per share of Common Stock issued in the Offering (the “Private Placement”). Pursuant to an engagement letter, dated as of August 7, 2023 (the “Engagement Letter”), between the Company and H.C. Wainwright & Co., LLC (the “Placement Agent”) the Company paid the placement agent a total cash fee of $111,359 equal to 7.0% of the gross proceeds received in the Offering and the Private Placement. The Company also paid the placement agent the management fee equal to $15,908 or 1.0% of the gross proceeds raised in the Offering and Private Placement, $45,000 for non-accountable expenses, and $15,950 for clearing fees. In addition, the Company issued to the placement agent, warrants to purchase up to 15,120 shares of Common Stock (the “Placement Agent Warrants”), which represents 7.0% of the aggregate number of shares of Common Stock sold in the Offering. The Placement Agent Warrants have substantially the same terms as the Warrants, except that the Placement Agent Warrants have an exercise price equal to $ 9.2063, or 125% of the offering price per share of Common Stock sold in the Offering, and a term of five years from the commencement of the sales pursuant to the Offering. The gross proceeds to the Company from the August 2023 Offering and the August 2023 Private Placement are $1,590,840. The Company incurred offering costs of $413,544. FDA Regulatory Strategy The Company’s current regulatory strategy is designed to support commercialization of Symphony in the United States pending marketing authorization from the FDA. Previously, the Company’s regulatory strategy involved clinical studies involving COVID-19 patients. However, the Company has shifted its focus away from COVID-19 patients due to a significant decline in the number of COVID-19 related hospitalizations. Pursuant to this revised strategy, the Company is beginning to conduct a clinical study to support an FDA regulatory submission with an initial indication for risk stratification of hospitalized sepsis patients. The Company submitted a pre-submission application to the FDA presenting the new study design in May 2023 and participated in a pre-submission meeting on August 11, 2023. At the meeting, the FDA provided feedback on the new study design, determined that the submission of a 510(k) is the appropriate premarket submission pathway, and requested that certain data be provided in the 510(k). Based on this feedback, the Company determined to proceed as planned while taking into account the FDA’s feedback. In the first quarter of 2024, the Company initiated the study at multiple sites, which study is intended to use the Symphony IL-6 test to monitor IL-6 concentrations in patients who are diagnosed with sepsis or septic shock and are admitted or intended to be admitted to the ICU. The objective of this study is to establish IL-6 concentrations in these sepsis patients that best predict 28-day all-cause mortality. The Company expects that it will need to bring several additional sites into the study in the future, which it believes will help support initial commercialization and market penetration. The Company believes that this clinical trial expansion could also support additional indications, but that any such expansion also could delay obtaining marketing authorization for the product. As a result of its lack of cash resources, the Company has recently slowed the timeline of this study to preserve cash resources in the near-term, and the Company expects that this will delay its Symphony platform regulatory submission timeline until 2025. Product Manufacturing The Company maintains contracts with Sanyoseiko Co. Ltd (“Sanyoseiko”) to manufacture our device and cartridges, and with Toray Industries, Inc (“Toray”) to manufacture in the near-term (through its wholly owned subsidiary Kamakura Techno-Science, Inc.) certain product intermediate components for use in cartridges being manufactured for the Company by Sanyoseiko. Risks and Uncertainties As noted above, Bluejay is reliant upon Toray and Sanyoseiko to provide cartridges in sufficient quantity and quality to complete our clinical trials, and our clinical trials could be delayed if the Company encountered any material supply interruptions while the clinical trials are being conducted. In addition, there can be no assurance that we will be able to obtain necessary regulatory authorization for the manufacturing or marketing of the Symphony in the United States or elsewhere. There also can be no assurance that we will successfully complete any clinical evaluations necessary to receive regulatory approvals, or that the clinical trial will demonstrate sufficient safety and efficacy of the Symphony. The failure to adequately demonstrate the clinical performance of the Symphony device could delay or prevent regulatory approval of the device, which could prevent or result in delays to market launch and could materially harm our business. In addition to the FDA regulatory strategy risks and uncertainties, the Company is subject to a number of risks similar to other companies in its industry, including rapid technological change, competition from larger biotechnology companies and dependence on key personnel. The Company is also impacted by inflationary pressures and global supply chain disruptions currently impacting many companies. On October 25, 2022, the Company received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the closing bid price for its common stock had been below $1.00 for the previous 30 consecutive business days and that the Company therefore is not in compliance with the minimum bid price requirement for continued inclusion on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). On April 25, 2023, at the Company’s request, Nasdaq’s Listing Qualifications Staff notified the Company that it had extended the time for the Company to regain compliance with the Minimum Bid Requirement until October 23, 2023. To regain compliance, the closing bid price of the Company’s common stock needed to be at least $1.00 or higher for a minimum of ten consecutive business days. On July 24, 2023, the Company effected a reverse stock split of its shares of common stock at a ratio of 1-for-20 (the “Reverse Stock Split”), with a corresponding reduction in the number of authorized outstanding number of shares of common stock from 100,000,000 to 7,500,000. All of the Company’s historical share and per share information related to issued and outstanding common stock and outstanding options and warrants exercisable for common stock in these financial statements have been adjusted, on a retroactive basis, to reflect this 1-for-20 reverse stock split. On August 8, 2023, the Company received a letter from the Listing Qualifications Department of Nasdaq notifying the Company that, based on the closing bid price of the Company’s common stock having been at least $1.00 per share for the required period, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and the minimum bid price deficiency matter previously disclosed by the Company on October 25, 2022 was closed. However, as further described below under note 12, on February 28, 2024, the Company received a new deficiency letter from the Listing Qualifications Department as a result of the closing bid price for its common stock having again been below $1.00 for the previous 30 consecutive business days. Going Concern The Company had cash and cash equivalents of $2,208,516, as of December 31, 2023. The Company has incurred net losses since its inception, and has negative cash flows from operations and had the accumulated deficit of $26,950,990 as of December 31, 2023. The Company continues to develop the Symphony device and its first test for the measurement of IL-6. The Company remains committed to obtaining FDA clearance and will conduct clinical trials to obtain sufficient data to support its FDA submission, while also continuing to build its manufacturing operations with its contract manufacturing organizations. Current cash resources and expected operating expenses are considered in determining its liquidity requirement; as well as $1,771,375 of current liabilities on its balance sheet as of December 31, 2023. The Company estimates cash resources will be sufficient to fund its operations through the second quarter of 2024. The Company will need additional capital to fund its planned operations for the next 12 months. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements for the years ended December 31, 2023 and 2022 were prepared under the assumption that the Company will continue as a going concern, which contemplates that the Company will be able to realize assets and discharge liabilities in the normal course of business. The Company expects that it will seek to raise such additional capital through public or private equity offerings, grant financing and support from governmental agencies, convertible debt, collaborations, strategic alliances and distribution arrangements. Additional funds may not be available when it needs them on terms that are acceptable to them, or at all. If adequate funds are not available, it may be required to delay its FDA regulatory strategy, and to delay or reduce the scope of its research or development programs, its commercialization efforts or its manufacturing commitments and capacity. In addition, if it raises additional funds through collaborations, strategic alliances or distribution arrangements with third parties, it may have to relinquish valuable rights to its technologies or future revenue streams.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles in the United States (“GAAP”) and include all adjustments necessary for the presentation of the Company’s consolidated financial position, results of operations and cash flows for the periods presented. The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in these consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. The Company believes judgment is involved in accounting for the fair value-based measurement of stock-based compensation, accruals, and warrant issuances. The Company evaluates its estimates and assumptions as facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates and assumptions, and those differences could be material to the condensed consolidated financial statements. Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. Cash equivalents, consisting of highly liquid money market funds are carried at fair market value which approximates cost. The Company recognized interest income associated with cash equivalents of $164,900 and $89,673 for the years ended December 31, 2023 and 2022, respectively. Revenue Recognition The Company recognizes revenue under the core principles of depicting the transfer of control to the Company’s customers in an amount reflecting the consideration to which the Company expected to be entitled. In order to achieve that core principle, the Company applies the following five step approach: (1) identify the contract with a customer, (2) identify the performance obligations in that contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when a performance obligation is satisfied. The Company recognizes revenue when performance obligations under the terms of the contract with the customer are satisfied and are recognized at a point in time, which is also when control is transferred. When the Company performs shipping and handling activities after the transfer of control to the customer (e.g. when control transfers prior to delivery), they are considered fulfillment activities and, accordingly, the costs are accrued for when the related revenue is recognized. Sales tax and valued added taxes collected from the customers relating to product sales and remitted to governmental authorities are excluded from revenues. Leases The Company accounts for its leases under the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) ASC 842, Leases The Company has arrangements involving the lease of facilities and the lease of copiers. Under ASC 842, at inception of the arrangement, the Company determines whether the contract is or contains a lease and whether the lease should be classified as an operating or a financing lease. This determination, among other considerations, involves an assessment of whether the Company can control the underlying asset and have the right to obtain substantially all of the economic benefits or outputs from the asset. The Company accounts for the leases of less than 12 months as short-term leases. The Company recognizes right-of-use (“ROU”) assets and lease liabilities as of the lease commencement date based on the net present value of the future minimum lease payments over the lease term. The Company amortizes the right-of-use assets over the remaining terms of the lease. ASC 842 requires the leases to use the rate implicit in the lease unless it is not readily determinable and then it may use its incremental borrowing rate (“IBR”) to discount the future minimum lease payments. Most of the Company’s leases do not provide an implicit rate; therefore, the Company uses its IBR to discount the future minimum lease payments. The Company determines its IBR with its credit rating and other economic information available as of the commencement date, as well as the identified lease term. During the assessment of the lease term, the Company considers its renewal options and extensions within the arrangements and the Company includes these options when it’s reasonably certain to extend the term of the lease. The Company has lease arrangements that contain incentives for tenant improvements as well as fixed rent escalation clauses. For contracts with tenant improvement incentives that are determined to be leasehold improvements and the Company is reasonably certain to exercise, it records a reduction to the lease liability and amortizes the incentive over the identified term of the lease as a reduction to rent expense. The Company records rental expense on a straight-line basis over the identified lease term on contracts with rent escalation clauses. Fair Value Measurements The accounting guidance defines fair value, establishes a consistent framework for measuring fair value and requires disclosure for each major asset and liability category measured at fair value on either a recurring or non-recurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Inputs, other than the quoted prices in active markets that are observable either directly or indirectly. Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Company determines fair value for cash equivalents with Level 1 inputs through the reference to the quoted market prices. There were no liabilities measured at fair value on a recurring basis, and no assets or liabilities measured at fair value on a non-recurring basis as of December 31, 2023 and 2022. The carrying values of financial instruments such as prepaid expenses, accounts payable, and accrued expenses approximated fair value as of December 31, 2023 and 2022 due to their short-term maturities. Impairment of Property and Equipment The Company evaluates its long-lived assets with definite lives, such as fixed assets and right-of-use assets for impairment. The carrying value of fixed assets and right-of use assets is reviewed on a regular basis for the existence of facts or circumstances, both internally and externally, that may suggest impairment. Some factors which the Company considers to be triggering events for impairment review include a significant decrease in the market value of an asset, a significant change in the extent or manner in which an asset is used, a significant adverse change in the business climate that could affect the value of an asset, an accumulation of costs for an asset in excess of the amount originally expected, a current period operating loss or cash flow decline combined with a history of operating loss or cash flow uses or a projection that demonstrates continuing losses and a current expectation that, it is more likely than not, a long-lived asset will be disposed of at a loss before the end of its estimated useful life. The factors that drive the estimate of the life are often uncertain and are reviewed on a periodic basis or when events occur that warrant review. Recoverability is measured by comparison of the assets’ book value to future net undiscounted cash flows that the assets are expected to generate. If the assets are not recoverable, the impairment charge is measured as the amount by which the carrying value of the asset group exceeds the fair value. Concentration of Credit Risk Cash, and cash equivalents consist of financial instruments that potentially subject the Company to a concentration of credit risk in the event of a default by the related financial institution holding the securities, to the extent of the value recorded in the balance sheet. The Company invests cash that is not required for immediate operating needs primarily in highly liquid instruments with lower credit risk. Research and Development Expenses Costs incurred in the research and development of new products are expensed as incurred. Research and development costs include, but are not limited to, salaries, benefits, stock-based compensation, laboratory supplies, fees for professional service providers and costs associated with product development efforts, including preclinical studies and clinical trials. The Company estimates preclinical study and clinical trial expenses based on the services performed, pursuant to contracts with research institutions and clinical research organizations that conduct and manage preclinical studies and clinical trials on its behalf. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. Payments made to third parties under these arrangements in advance of the receipt of the related services are recorded as prepaid expenses until the services are rendered. Stock-Based Compensation Share-based compensation expense for all share-based payment awards made to employees, directors and non-employees is measured based on the grant-date fair value of the award. Share-based compensation expense for awards granted to non-employees is determined using the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measured. The Company uses the Black-Scholes option pricing model to determine the fair value of options granted. The Company recognizes the compensation cost of share-based awards on a straight-line basis over the requisite service period. For stock awards for which vesting is subject to performance – based milestones, the expense is recorded over the implied service period after the point when the achievement of the milestone is probable, or the performance condition has been achieved. The determination of the fair value of share-based payment awards utilizing the Black-Scholes model is affected by the stock price and a number of assumptions, including expected volatility, expected life, risk-free interest rate and expected dividends. The Company does not have a history of market prices of its common stock, and as such, volatility is estimated using historical volatilities of similar public entities. The expected life of the awards is estimated based on the simplified method for grants to employees and is based on the contractual term for non-employee awards. The risk-free interest rate assumption is based on observed interest rates appropriate for the terms of the awards. The dividend yield assumption is based on history and expectation of paying no dividends. The Company recognizes forfeitures related to employee share-based payments when they occur. Segment Reporting Management has determined that the Company has one operating segment, which is consistent with the Company structure and how it manages the business. Income Taxes The Company follows accounting guidance regarding the recognition, measurement, presentation and disclosure of uncertain tax positions in the consolidated financial statements. Tax positions taken or expected to be taken in the course of preparing the Company’s tax returns are required to be evaluated to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authorities. Tax positions not deemed to meet a more-likely-than-not threshold would be recorded in the consolidated financial statements. There are no uncertain tax positions that require accrual or disclosure as of December 31, 2023. Any interest or penalties are charged to expense. During the years ended December 31, 2023 and 2022, the Company had no significant interest and penalties. Tax years subsequent to December 31, 2019 are subject to examination by federal and state authorities. The Company recognizes deferred tax assets and liabilities based on the impact of temporary differences between assets and liabilities recognized for tax and financial reporting purposes measured by applying enacted tax rates and laws that will be in effect when the differences are expected to reverse, net operating loss carryforwards and tax credits. Valuation allowances are provided when necessary to reduce net deferred tax assets to an amount that is more likely than not to be realized. The deferred tax benefit or expense for the period represents the change in the deferred tax asset or liability from the beginning to the end of the period. Deferred Offering Costs Deferred offering costs consist of underwriting, legal, accounting and other expenses incurred through December 31, 2023 that are directly related to the January 2024 Offering and that will be charged to stockholders’ equity upon the completion of the January 2024 Offering. Net Loss per Share Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding for the period, without consideration for potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock and dilutive common stock equivalents outstanding for the period determined using the treasury stock and if-converted methods. Dilutive common stock equivalents are comprised of options outstanding under the Company’s stock option plan, restricted stock units, and warrants. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding as inclusion of the potentially dilutive securities would be antidilutive. Potentially dilutive securities not included in the calculation of diluted net loss per share, because to do so would be anti-dilutive, are as follows (in common stock equivalent shares): December 31, 2023 2022 Options to purchase common stock 29,770 35,992 Restricted stock units 7,875 - Warrants for common stock 271,714 40,594 Class A Warrants for common stock 124,200 124,200 Class B Warrants for common stock 3,770 3,770 Recently Adopted Accounting Standards In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 805”) Revenue from Contracts with Customers (Topic 606) (“ Recently Issued Accounting Standards The Company does not believe that any recently issued but not yet effective accounting pronouncements will have a material effect on the accompanying consolidated financial statements.

License and Supply Agreement wi

License and Supply Agreement with Toray Industries	12 Months Ended
	Dec. 31, 2023
License and Supply Agreement with Toray Industries [Abstract]
LICENSE AND SUPPLY AGREEMENT WITH TORAY INDUSTRIES	3. LICENSE AND SUPPLY AGREEMENT WITH TORAY INDUSTRIES On October 6, 2020, the Company entered into a License and Supply Agreement (“License Agreement”) with Toray Industries, Inc. (“Toray”). Under the License Agreement, the Company received the exclusive license (outside of Japan) to make and distribute protein detection cartridges that have a function of automatic stepwise feeding of reagent (the “Cartridges”). In exchange for the license, the Company committed to make two payments of $120,000 each, both of which were made in 2021. In addition, following the first sale of the Cartridges after regulatory approval, the Company will make royalty payments to Toray equal to 15% of the net sales of the Cartridges for the period that any underlying patents exist or five years after the first sale. Following the first sale after obtaining regulatory approval, the Company will make minimum annual royalty payments of $60,000 for the first year and $100,000 for each year thereafter, which shall be creditable against any royalties owed to Toray in such calendar year. On October 23, 2023, the Company and Toray entered into an Amended and Restated License Agreement (the “New Toray License Agreement”) and a Master Supply Agreement (the “New Toray Supply Agreement”). Under the New Toray License Agreement, the Company continues to license from Toray intellectual property rights needed to manufacture single-use test cartridges, and the Company has received the right to sublicense certain Toray intellectual property to Sanyoseiko in connection with Sanyoseiko’s ongoing agreement with the Company to manufacture its Symphony device and cartridges (including in connection with the Company’s clinical trials). In addition, the New Toray License Agreement provides for the transfer of certain technology related to the cartridges to Sanyoseiko. The royalty payments payable by the Company to Toray have been reduced under the New Toray License Agreement from 15% to 7.5% (or less in certain circumstances) of net sales of certain cartridges for a term of 10 years. A 50% reduction in the royalty rate applies upon expiry of applicable Toray patents on a product-by-product and country-by-country basis. The New Toray License Agreement contemplates that applicable royalty payment obligations from the Company to Toray for other products will be determined separately by the parties in the future. There were no sales of or revenues from the cartridges during the 12-month periods ended December 31, 2023 and 2022. Under the New Toray Supply Agreement, Toray will manufacture in the near-term (through its wholly owned subsidiary Kamakura Techno- Science, Inc.) certain product intermediate components for use in cartridges being manufactured for the Company by Sanyoseiko. These cartridges made using Toray intermediates are for the purpose of obtaining FDA approval and not for commercial sale. The New Toray Supply Agreement has a term ending on the earlier of October 23, 2025 or the date that the Company obtains FDA approval for its product, and may be extended for up to six months by mutual agreements of the parties. Once FDA approval has been obtained, the intermediates and cartridges will be manufactured by SanyoSeiko under a separate supply agreement between the Company and SanyoSeiko. At December 31, 2023 and 2022, there were no amounts accrued related to the New Toray License Agreement or the License Agreement.

Warrants

Warrants	12 Months Ended
	Dec. 31, 2023
Warrants [Abstract]
WARRANTS	4. WARRANTS The following table summarizes information with regard to warrants outstanding at December 31, 2023: Shares Exercisable for Weighted Weighted Average Common Stock Warrants 271,714 Common Stock $ 15.94 4.3 Class A Warrants 124,200 Common Stock $ 140.00 2.8 Class B Warrants 3,770 Common Stock $ 200.00 2.8 As part of the August 2023 Offering that occurred during the year ended December 31, 2023, the Company issued 216,000 Warrants and 15,120 Placement Agent Warrants, which were accounted for as equity classified financial instruments under ASC 815, Derivatives and Hedging Holders of Class B Warrants may also exercise such warrants on a “cashless” basis after the earlier of (i) 10 trading days from closing date of the offering or (ii) the time when $10.0 million of volume is traded in the Company’s common stock, if the volume weighted average price of the Company’s common stock on any trading day on or after the closing date of the offering fails to exceed the exercise price of the Class B Warrant (subject to adjustment as described in the warrant agreement). During the year ended December 31, 2023, no Class A or Class B Warrants were exercised. During the year ended December 31, 2022, 2,005 Class B Warrants were exercised, all on a cashless basis, while there were no exercises of Class A Warrants.

Stock Compensation

Stock Compensation	12 Months Ended
	Dec. 31, 2023
Stock Compensation [Abstract]
STOCK COMPENSATION	5. STOCK COMPENSATION Stock Incentive Plans In 2018, the Company adopted the 2018 Stock Incentive Plan (the “2018 Plan”) for employees, consultants, and directors. The 2018 Plan, which is administered by the Company’s Board of Directors, permits the Company to grant incentive and nonqualified stock options for the purchase of common stock, and restricted stock awards. The maximum number of shares of common stock reserved for issuance under the 2018 Plan is 31,472. At December 31, 2023 there were 13,113 shares of common stock available for grant under the 2018 Plan. On July 6, 2021, the Company’s Board of Directors and stockholders approved and adopted the Bluejay Diagnostics, Inc. 2021 Stock Plan (the “2021 Plan”). A total of 98,000 shares of common stock were approved to be initially reserved for issuance under the 2021 Stock Plan. At December 31, 2023 there were 40,377 shares of common stock available for grant under the 2021 Plan. Stock Award Activity The following table summarizes the status of the Company’s non-vested restricted stock awards for years ended December 31, 2023: Non-vested Number of Weighted Outstanding at December 31, 2022 3,000 $ 25.80 Granted 25,609 8.80 Vested (19,484 ) 9.45 Cancelled / forfeited (1,250 ) 25.80 Outstanding at December, 2023 7,875 $ 10.96 The following is a summary of stock option activity for the year ended December 31, 2023: Number of Weighted Weighted Aggregate Outstanding at December 31, 2022 35,992 $ 39.25 6.5 $ 20,578 Granted 1,000 10.60 Exercised - - Cancelled / forfeited (7,222 ) 46.57 Outstanding at December 31, 2023 29,770 $ 36.51 6.7 $ - Exercisable at December 31, 2023 25,548 $ 35.59 6.5 $ - The weighted average grant date fair value of options granted during the years ended December 31, 2023 and 2022 was $10.60 per share and $28.40 per share, respectively. The Company determined the grant-date fair value of stock option awards granted during the years ended December 31, 2023 and 2022 using the Black-Scholes model with the following assumptions: 2023 2022 Risk-free interest rate 3.63 % 1.58% – 4.35% Expected dividend yield 0.00 % 0.00% Volatility factor 108.78 % 102.03% – 107.36% Expected life of option (in years) 6.00 5.40 – 6.00 Stock-Based Compensation Expense For the years ended December 31, 2023 and 2022, the Company recorded stock-based compensation expense as follows: Year ended December 31, 2023 2022 Research and development $ 62,955 $ 64,352 General and administrative 133,840 367,702 Marketing and business development (7,550 ) 950 Total stock-based compensation $ 189,245 $ 433,004 At December 31, 2023, there was approximately $38,002 of unrecognized compensation expense related to non-vested stock option awards that are expected to be recognized over a weighted-average period of 1.16 years. At December 31, 2023, there was approximately $14,060 of unrecognized compensation expense related to non-vested restricted stock awards that are expected to be recognized over a weighted-average period of 0.75 years.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	6. RELATED PARTY TRANSACTIONS NanoHybrids, LLC In December 2021, the Company entered into an agreement with NanoHybrids, LLC (“NanoHybrids”) to utilize the Company’s research and development staff and laboratory facility when available to perform work for NanoHybrids. Any hours worked by Company employees for NanoHybrids is billed to NanoHybrids at a bill rate of the respective employee’s fully burdened personnel cost plus 10%. Additionally, the Company may purchase certain lab supplies for NanoHybrids and rebill these costs to NanoHybrids. The Company’s Chief Technology Officer is the majority shareholder of NanoHybrids. The table below summarizes the amounts earned for the years ended December 31, 2023 and 2022 and balances due from NanoHybrids as of December 31, 2023 and 2022: Year Ended 2023 2022 Income from NanoHybrids included in Other Income $ 178,042 $ 163,256 Cash receipts from NanoHybrids $ 156,504 $ 143,525 As of December 31, 2023 2022 Amounts receivable from NanoHybrids included in Prepaids and Other Current Assets $ 41,269 $ 19,731 Toray Industries, Inc. In June 2022, the Company sold five Symphony analyzers to the Company’s business partner, Toray, for $249,040, all of which was paid in June 2022. Future sales to Toray are not currently anticipated.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2023
Property and Equipment [Abstract]
PROPERTY AND EQUIPMENT	7. PROPERTY AND EQUIPMENT Property and equipment consisted of the following at December 31, 2023 and 2022: December 31, Depreciable lives 2023 2022 Construction in process $ 1,052,822 $ 375,466 Furniture, fixtures, and equipment 3-5 years 141,164 136,942 Software 3 years 4,457 4,457 Lab equipment 3-5 years 1,287,783 1,268,380 Leasehold improvements Life of lease 43,231 43,231 2,529,457 1,828,476 Less: accumulated depreciation (1,243,716 ) (596,406 ) Property and equipment, net $ 1,285,741 $ 1,232,070 The Company reviews long-lived assets for impairment when events, expectations, or changes in circumstances indicate that the asset’s carrying value may not be recoverable. As a result of this review in 2023, the Company revised the useful life of certain lab equipment in the first quarter of 2023 due to a change in expectations of the time the equipment will be used which resulted in approximately $382,795 of additional depreciation recorded in the year ended December 31, 2023.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASES	8. LEASES The Company primarily enters into lease arrangements for office, laboratory space, and copiers. A summary of supplemental lease information is as follows: December 31, 2023 2022 Weighted average remaining lease term - operating leases (in years) 2.9 3.7 Weighted average remaining lease term - finance leases (in years) 4.1 5.1 Weighted average discount rate 7.0 % 7.0 % Operating cash flows from operating leases $ 174,640 $ 149,700 Operating cash flows from finance leases $ 4,807 $ - A summary of the Company’s lease assets and liabilities are as follows: December 31, 2023 2022 Operating lease right-of-use asset $ 333,267 $ 465,514 Finance leases in Property and Equipment 15,152 21,067 Total lease assets 348,419 486,581 Current portion of operating lease liability 162,990 168,706 Current portion of finance lease liability included in accrued expenses 4,807 4,807 Noncurrent operating lease liabilities 189,987 323,915 Noncurrent finance lease liabilities 12,321 15,823 Total lease liabilities $ 370,105 $ 513,251 The following table reconciles the undiscounted lease liabilities to the total lease liabilities recognized on the consolidated balance sheet as of December 31, 2023: Year Operating Lease Finance 2024 $ 162,990 $ 4,807 2025 100,000 4,807 2026 100,000 4,807 2027 25,000 5,207 Thereafter - - Total future lease payments 387,990 19,628 Less: Imputed interest 35,013 2,500 Present value of lease liability $ 352,977 $ 17,128

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	9. COMMITMENTS AND CONTINGENCIES Purchase Commitments In October 2022, the Company entered into a non-cancelable purchase commitment with an international materials vendor for items needed for both development of the Symphony product line and also to resell to its customers. This agreement commits the Company to purchase approximately $800,000 in goods, of which 50% was prepaid in 2022, with the remainder being paid in 2023. All goods have been received under this arrangement as of December 31, 2023. The Company had multiple open purchase commitments with its primary contract manufacturing organization in Japan related to the buildout of a manufacturing line for the IL-6 cartridges for the Symphony device as of December 31, 2022 for approximately $375,000. During the year ended December 31, 2023, the Company purchased all items related to these purchase commitments. Separation Agreement Under the terms of a separation agreement with Mr. Kenneth Fisher, the Company’s former Chief Financial Officer, the Company has agreed to compensate Mr. Fisher $240,000 (representing six months of base salary and the pro rata amount of Mr. Fisher’s 2023 target bonus). The payments of such amounts are subject to the compliance by Mr. Fisher of certain ongoing covenants with respect to confidentiality, cooperation and other matters. Mr. Fisher departed from the Company on September 26, 2023, and the Company has recorded a severance liability of $240,000, which was included in accrued severance in the amount of $150,000 and in accrued bonuses of $90,000. The Company has paid Mr. Fisher $80,000 as of December 31, 2023, resulting in an remaining accrual of $160,000 which has been included accrued expenses and other current liabilities on the Company’s Consolidated Balance Sheets as of December 31, 2023. Minimum Royalties As required under the License Agreement (see Note 3), following the first sale of Cartridges, the Company will also make royalty payments to Toray equal to 7.5% of the net sales of the Cartridges for a term of 10 years. A 50% reduction in the royalty rate applies upon expiry of applicable Toray patents on a product-by-product and country-by-country basis. There were no sales of or revenues from the Cartridges through December 31, 2023. Indemnification The Company has certain agreements with service providers with which it does business that contain indemnification provisions pursuant to which the Company typically agrees to indemnify the party against certain types of third-party claims. The Company accrues for known indemnification issues when a loss is probable and can be reasonably estimated. The Company would also accrue for estimated incurred but unidentified indemnification issues based on historical activity. As the Company has not incurred any indemnification losses to date, there were no accruals for or expenses related to indemnification issues for any period presented.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	12 Months Ended
	Dec. 31, 2023
Supplemental Balance Sheet Information [Abstract]
SUPPLEMENTAL BALANCE SHEET INFORMATION	10. SUPPLEMENTAL BALANCE SHEET INFORMATION Prepaid expenses and other current assets consist of the following: December 31, 2023 2022 Prepaid insurance $ 136,342 $ 751,979 Vendor prepayments 558,959 681,218 Prepaid other 51,962 240,283 Total prepaid expenses and other current assets $ 747,263 $ 1,673,480 Accrued expenses and other current liabilities consist of the following: December 31, 2023 2022 Accrued personnel costs $ 566,087 $ 533,577 Goods received but unpaid 78,579 10,077 Accrued expenses for CFO separation agreement 160,000 - Accrued legal fees 157,670 61,737 Accrued other 154,575 230,339 Total accrued expenses and other current liabilities $ 1,116,911 $ 835,730

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2023
Income Tax [Abstract]
INCOME TAX	11. INCOME TAX No provision for federal income taxes has been recorded for the years ended December 31, 2023 and 2022 due to net losses and the valuation allowance established. Significant components of the Company’s deferred tax assets are as follows: As of December 31, 2023 2022 Deferred tax assets: Net operating losses $ 4,553,431 $ 3,043,585 Tax credits 546,325 190,489 Intangible assets 58,063 66,716 Capitalized R&D expenses 2,106,995 1,018,165 Fixed assets 114,657 37,580 Other 314,958 272,106 Total deferred tax assets 7,694,429 4,628,641 Valuation allowance (7,694,429 ) (4,628,641 ) Deferred tax asset, net of allowance $ - $ - A reconciliation of the statutory tax rates and the effective tax rates for the years ended December 2023 and 2022 is as follows: Year Ended December 31, 2023 2022 Federal statutory rate 21.00 % 21.00 % State income taxes, net of federal benefit and tax credits 7.43 % 6.86 % Change in valuation allowance (30.80 )% (29.06 )% Permanent differences 2.37 % 1.20 % Effective tax rate 0.00 % 0.00 % The Company regularly assesses the need for a valuation allowance against its deferred tax assets. In making that assessment, the Company considers both positive and negative evidence related to the likelihood of realization of the deferred tax assets to determine, based on the weight of available evidence, whether it is more-likely-than-not that some or all of the deferred tax assets will not be realized. In assessing the realizability of deferred tax assets, the Company considers taxable income in prior carryback years, as permitted under the tax law, forecasted taxable earnings, tax planning strategies, and the expected timing of the reversal of temporary differences. This determination requires significant judgment, including assumptions about future taxable income that are based on historical and projected information and is performed on a jurisdiction-by-jurisdiction basis. The Company continues to maintain a full valuation allowance against its deferred tax assets. During the years ended December 31, 2023 and 2022, management assessed the positive and negative evidence in its operations, and concluded that it is more likely than not that its deferred tax assets as of December 31, 2023 and 2022 will not be realized given the Company’s history of operating losses. The valuation allowance against deferred tax assets increased by approximately $3.1 million and $2.7 million during 2023 and 2022, respectively, related to a full valuation allowance recorded against capitalized research expenditures, additional net operating losses and tax credits generated in the year. As of December 31, 2023, the Company had federal net operating losses of approximately $16.8 million. The Company’s federal net operating losses incurred prior to 2018 totaling $713,000 expire through 2037, while its federal net operating losses incurred in 2018 to 2023 totaling approximately $16.1 million can be carried forward indefinitely but are limited to 80% utilization against future taxable income each year. As of December 31, 2023, the Company had post-apportioned state net operating losses of approximately $16.3 million that can generally be carried forward 20 years and will expire at various dates through 2043. As of December 31, 2022, the Company had post-apportioned Massachusetts net operating losses of approximately $10.8 million that can generally be carried forward 20 years and will expire at various dates through 2042.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	12. SUBSEQUENT EVENTS January 2024 Offering On January 2, 2024, the Company sold in a public offering (such transaction, the “January 2024 Offering”) (i) 537,768 shares of the Company’s Common stock, par value $0.0001 per share and (ii) prefunded warrants to purchase up to an aggregate 2,154,540 shares of Common Stock (the “Prefunded Warrants”). The Shares and Prefunded Warrants were sold together with warrants to purchase up to an aggregate of 2,692,308 shares of Common Stock at an exercise price of $1.30 per share (the “January 2024 Warrants”). The combined public offering price was $1.30 per share of Common Stock and related January 2024 Warrant and $1.2999 per Prefunded Warrant and related January 2024 Warrant. The Company intends to use the net proceeds from the January Offering to fund matters related to obtaining FDA approval (including clinical studies related thereto), as well as for other research and development activities, and for general working capital needs. The Prefunded Warrants are immediately exercisable and may be exercised at any time until all of the Prefunded Warrants are exercised in full The January 2024 Warrants are exercisable immediately upon issuance for a period of five years following the date of issuance. Pursuant to an engagement letter, dated as of August 7, 2023, as amended October 11, 2023 (the “Amended Engagement Letter”), by and between the Company and the Placement Agent, the Company paid the Placement Agent a total cash fee of $245,000 equal to 7.0% of the gross proceeds received in the January 2024 Offering. The Company also paid the Placement Agent in connection with the January Offering a management fee of $35,000 equal to 1.0% of the gross proceeds raised in the January 2024 Offering and certain expenses incurred in connection with the January Offering. In addition, the Company issued to the Placement Agent, warrants to purchase up to an aggregate 188,462 shares of Common Stock (the “January 2024 Placement Agent Warrants”), which represents 7.0% of the aggregate number of shares of Common Stock and Prefunded Warrants sold in the January 2024 Offering. The January 2024 Placement Agent Warrants have substantially the same terms as the January 2024 Warrants, except that the January 2024 Placement Agent Warrants have an exercise price equal to $1.6250, or 125% of the offering price per share of Common Stock and related January 2024 Warrant sold in the January Offering and expire on the fifth anniversary from the date of the commencement of sales in the January 2024 Offering. Concurrently with the closing of the January 2024 Offering, certain purchasers have elected to exercise Prefunded Warrants to purchase 174,770 shares of Common Stock. Nasdaq Notification On February 28, 2024, the Company received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the closing bid price for its common stock had been below $1.00 for the previous 30 consecutive business days and that the Company therefore is not in compliance with the minimum bid price requirement for continued inclusion on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). The notification has no immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market. The Company intends to take all reasonable measures available to achieve compliance and allow for continued listing on the Nasdaq Capital Market. However, there can be no assurance that the Company will be able to regain compliance with the minimum bid price requirement or will otherwise be in compliance with other Nasdaq listing criteria.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (9,953,888)	$ (9,296,948)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2023
Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles in the United States (“GAAP”) and include all adjustments necessary for the presentation of the Company’s consolidated financial position, results of operations and cash flows for the periods presented. The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in these consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. The Company believes judgment is involved in accounting for the fair value-based measurement of stock-based compensation, accruals, and warrant issuances. The Company evaluates its estimates and assumptions as facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates and assumptions, and those differences could be material to the condensed consolidated financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. Cash equivalents, consisting of highly liquid money market funds are carried at fair market value which approximates cost. The Company recognized interest income associated with cash equivalents of $164,900 and $89,673 for the years ended December 31, 2023 and 2022, respectively.
Revenue Recognition	Revenue Recognition The Company recognizes revenue under the core principles of depicting the transfer of control to the Company’s customers in an amount reflecting the consideration to which the Company expected to be entitled. In order to achieve that core principle, the Company applies the following five step approach: (1) identify the contract with a customer, (2) identify the performance obligations in that contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when a performance obligation is satisfied. The Company recognizes revenue when performance obligations under the terms of the contract with the customer are satisfied and are recognized at a point in time, which is also when control is transferred. When the Company performs shipping and handling activities after the transfer of control to the customer (e.g. when control transfers prior to delivery), they are considered fulfillment activities and, accordingly, the costs are accrued for when the related revenue is recognized. Sales tax and valued added taxes collected from the customers relating to product sales and remitted to governmental authorities are excluded from revenues.
Leases	Leases The Company accounts for its leases under the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) ASC 842, Leases The Company has arrangements involving the lease of facilities and the lease of copiers. Under ASC 842, at inception of the arrangement, the Company determines whether the contract is or contains a lease and whether the lease should be classified as an operating or a financing lease. This determination, among other considerations, involves an assessment of whether the Company can control the underlying asset and have the right to obtain substantially all of the economic benefits or outputs from the asset. The Company accounts for the leases of less than 12 months as short-term leases. The Company recognizes right-of-use (“ROU”) assets and lease liabilities as of the lease commencement date based on the net present value of the future minimum lease payments over the lease term. The Company amortizes the right-of-use assets over the remaining terms of the lease. ASC 842 requires the leases to use the rate implicit in the lease unless it is not readily determinable and then it may use its incremental borrowing rate (“IBR”) to discount the future minimum lease payments. Most of the Company’s leases do not provide an implicit rate; therefore, the Company uses its IBR to discount the future minimum lease payments. The Company determines its IBR with its credit rating and other economic information available as of the commencement date, as well as the identified lease term. During the assessment of the lease term, the Company considers its renewal options and extensions within the arrangements and the Company includes these options when it’s reasonably certain to extend the term of the lease. The Company has lease arrangements that contain incentives for tenant improvements as well as fixed rent escalation clauses. For contracts with tenant improvement incentives that are determined to be leasehold improvements and the Company is reasonably certain to exercise, it records a reduction to the lease liability and amortizes the incentive over the identified term of the lease as a reduction to rent expense. The Company records rental expense on a straight-line basis over the identified lease term on contracts with rent escalation clauses.
Fair Value Measurements	Fair Value Measurements The accounting guidance defines fair value, establishes a consistent framework for measuring fair value and requires disclosure for each major asset and liability category measured at fair value on either a recurring or non-recurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Inputs, other than the quoted prices in active markets that are observable either directly or indirectly. Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Company determines fair value for cash equivalents with Level 1 inputs through the reference to the quoted market prices. There were no liabilities measured at fair value on a recurring basis, and no assets or liabilities measured at fair value on a non-recurring basis as of December 31, 2023 and 2022. The carrying values of financial instruments such as prepaid expenses, accounts payable, and accrued expenses approximated fair value as of December 31, 2023 and 2022 due to their short-term maturities.
Impairment of Property and Equipment	Impairment of Property and Equipment The Company evaluates its long-lived assets with definite lives, such as fixed assets and right-of-use assets for impairment. The carrying value of fixed assets and right-of use assets is reviewed on a regular basis for the existence of facts or circumstances, both internally and externally, that may suggest impairment. Some factors which the Company considers to be triggering events for impairment review include a significant decrease in the market value of an asset, a significant change in the extent or manner in which an asset is used, a significant adverse change in the business climate that could affect the value of an asset, an accumulation of costs for an asset in excess of the amount originally expected, a current period operating loss or cash flow decline combined with a history of operating loss or cash flow uses or a projection that demonstrates continuing losses and a current expectation that, it is more likely than not, a long-lived asset will be disposed of at a loss before the end of its estimated useful life. The factors that drive the estimate of the life are often uncertain and are reviewed on a periodic basis or when events occur that warrant review. Recoverability is measured by comparison of the assets’ book value to future net undiscounted cash flows that the assets are expected to generate. If the assets are not recoverable, the impairment charge is measured as the amount by which the carrying value of the asset group exceeds the fair value.
Concentration of Credit Risk	Concentration of Credit Risk Cash, and cash equivalents consist of financial instruments that potentially subject the Company to a concentration of credit risk in the event of a default by the related financial institution holding the securities, to the extent of the value recorded in the balance sheet. The Company invests cash that is not required for immediate operating needs primarily in highly liquid instruments with lower credit risk.
Research and Development Expenses	Research and Development Expenses Costs incurred in the research and development of new products are expensed as incurred. Research and development costs include, but are not limited to, salaries, benefits, stock-based compensation, laboratory supplies, fees for professional service providers and costs associated with product development efforts, including preclinical studies and clinical trials. The Company estimates preclinical study and clinical trial expenses based on the services performed, pursuant to contracts with research institutions and clinical research organizations that conduct and manage preclinical studies and clinical trials on its behalf. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. Payments made to third parties under these arrangements in advance of the receipt of the related services are recorded as prepaid expenses until the services are rendered.
Stock-Based Compensation	Stock-Based Compensation Share-based compensation expense for all share-based payment awards made to employees, directors and non-employees is measured based on the grant-date fair value of the award. Share-based compensation expense for awards granted to non-employees is determined using the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measured. The Company uses the Black-Scholes option pricing model to determine the fair value of options granted. The Company recognizes the compensation cost of share-based awards on a straight-line basis over the requisite service period. For stock awards for which vesting is subject to performance – based milestones, the expense is recorded over the implied service period after the point when the achievement of the milestone is probable, or the performance condition has been achieved. The determination of the fair value of share-based payment awards utilizing the Black-Scholes model is affected by the stock price and a number of assumptions, including expected volatility, expected life, risk-free interest rate and expected dividends. The Company does not have a history of market prices of its common stock, and as such, volatility is estimated using historical volatilities of similar public entities. The expected life of the awards is estimated based on the simplified method for grants to employees and is based on the contractual term for non-employee awards. The risk-free interest rate assumption is based on observed interest rates appropriate for the terms of the awards. The dividend yield assumption is based on history and expectation of paying no dividends. The Company recognizes forfeitures related to employee share-based payments when they occur.
Segment Reporting	Segment Reporting Management has determined that the Company has one operating segment, which is consistent with the Company structure and how it manages the business.
Income Taxes	Income Taxes The Company follows accounting guidance regarding the recognition, measurement, presentation and disclosure of uncertain tax positions in the consolidated financial statements. Tax positions taken or expected to be taken in the course of preparing the Company’s tax returns are required to be evaluated to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authorities. Tax positions not deemed to meet a more-likely-than-not threshold would be recorded in the consolidated financial statements. There are no uncertain tax positions that require accrual or disclosure as of December 31, 2023. Any interest or penalties are charged to expense. During the years ended December 31, 2023 and 2022, the Company had no significant interest and penalties. Tax years subsequent to December 31, 2019 are subject to examination by federal and state authorities. The Company recognizes deferred tax assets and liabilities based on the impact of temporary differences between assets and liabilities recognized for tax and financial reporting purposes measured by applying enacted tax rates and laws that will be in effect when the differences are expected to reverse, net operating loss carryforwards and tax credits. Valuation allowances are provided when necessary to reduce net deferred tax assets to an amount that is more likely than not to be realized. The deferred tax benefit or expense for the period represents the change in the deferred tax asset or liability from the beginning to the end of the period.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs consist of underwriting, legal, accounting and other expenses incurred through December 31, 2023 that are directly related to the January 2024 Offering and that will be charged to stockholders’ equity upon the completion of the January 2024 Offering.
Net Loss per Share	Net Loss per Share Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding for the period, without consideration for potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock and dilutive common stock equivalents outstanding for the period determined using the treasury stock and if-converted methods. Dilutive common stock equivalents are comprised of options outstanding under the Company’s stock option plan, restricted stock units, and warrants. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding as inclusion of the potentially dilutive securities would be antidilutive. Potentially dilutive securities not included in the calculation of diluted net loss per share, because to do so would be anti-dilutive, are as follows (in common stock equivalent shares): December 31, 2023 2022 Options to purchase common stock 29,770 35,992 Restricted stock units 7,875 - Warrants for common stock 271,714 40,594 Class A Warrants for common stock 124,200 124,200 Class B Warrants for common stock 3,770 3,770
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 805”) Revenue from Contracts with Customers (Topic 606) (“
Recently Issued Accounting Standards	Recently Issued Accounting Standards The Company does not believe that any recently issued but not yet effective accounting pronouncements will have a material effect on the accompanying consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Significant Accounting Policies [Abstract]
Schedule of Diluted Net Loss Per Share	Potentially dilutive securities not included in the calculation of diluted net loss per share, because to do so would be anti-dilutive, are as follows (in common stock equivalent shares): December 31, 2023 2022 Options to purchase common stock 29,770 35,992 Restricted stock units 7,875 - Warrants for common stock 271,714 40,594 Class A Warrants for common stock 124,200 124,200 Class B Warrants for common stock 3,770 3,770

Warrants (Tables)

Warrants (Tables)	12 Months Ended
	Dec. 31, 2023
Warrants [Abstract]
Schedule of Information with Regard to Warrants Outstanding	The following table summarizes information with regard to warrants outstanding at December 31, 2023: Shares Exercisable for Weighted Weighted Average Common Stock Warrants 271,714 Common Stock $ 15.94 4.3 Class A Warrants 124,200 Common Stock $ 140.00 2.8 Class B Warrants 3,770 Common Stock $ 200.00 2.8

Stock Compensation (Tables)

Stock Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Stock Compensation [Abstract]
Schedule of Non-vested Restricted Stock Units	The following table summarizes the status of the Company’s non-vested restricted stock awards for years ended December 31, 2023: Non-vested Number of Weighted Outstanding at December 31, 2022 3,000 $ 25.80 Granted 25,609 8.80 Vested (19,484 ) 9.45 Cancelled / forfeited (1,250 ) 25.80 Outstanding at December, 2023 7,875 $ 10.96
Schedule of Stock Option Activity	The following is a summary of stock option activity for the year ended December 31, 2023: Number of Weighted Weighted Aggregate Outstanding at December 31, 2022 35,992 $ 39.25 6.5 $ 20,578 Granted 1,000 10.60 Exercised - - Cancelled / forfeited (7,222 ) 46.57 Outstanding at December 31, 2023 29,770 $ 36.51 6.7 $ - Exercisable at December 31, 2023 25,548 $ 35.59 6.5 $ -
Schedule of Grant-Date Fair Value of Stock Option Awards Granted	The weighted average grant date fair value of options granted during the years ended December 31, 2023 and 2022 was $10.60 per share and $28.40 per share, respectively. The Company determined the grant-date fair value of stock option awards granted during the years ended December 31, 2023 and 2022 using the Black-Scholes model with the following assumptions: 2023 2022 Risk-free interest rate 3.63 % 1.58% – 4.35% Expected dividend yield 0.00 % 0.00% Volatility factor 108.78 % 102.03% – 107.36% Expected life of option (in years) 6.00 5.40 – 6.00
Schedule of Stock-Based Compensation Expense	For the years ended December 31, 2023 and 2022, the Company recorded stock-based compensation expense as follows: Year ended December 31, 2023 2022 Research and development $ 62,955 $ 64,352 General and administrative 133,840 367,702 Marketing and business development (7,550 ) 950 Total stock-based compensation $ 189,245 $ 433,004

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of Due from Related Parties	The table below summarizes the amounts earned for the years ended December 31, 2023 and 2022 and balances due from NanoHybrids as of December 31, 2023 and 2022: Year Ended 2023 2022 Income from NanoHybrids included in Other Income $ 178,042 $ 163,256 Cash receipts from NanoHybrids $ 156,504 $ 143,525
Schedule of Balance Due	As of December 31, 2023 2022 Amounts receivable from NanoHybrids included in Prepaids and Other Current Assets $ 41,269 $ 19,731

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment consisted of the following at December 31, 2023 and 2022: December 31, Depreciable lives 2023 2022 Construction in process $ 1,052,822 $ 375,466 Furniture, fixtures, and equipment 3-5 years 141,164 136,942 Software 3 years 4,457 4,457 Lab equipment 3-5 years 1,287,783 1,268,380 Leasehold improvements Life of lease 43,231 43,231 2,529,457 1,828,476 Less: accumulated depreciation (1,243,716 ) (596,406 ) Property and equipment, net $ 1,285,741 $ 1,232,070

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Lease Arrangements for Office and Laboratory Space	The Company primarily enters into lease arrangements for office, laboratory space, and copiers. A summary of supplemental lease information is as follows: December 31, 2023 2022 Weighted average remaining lease term - operating leases (in years) 2.9 3.7 Weighted average remaining lease term - finance leases (in years) 4.1 5.1 Weighted average discount rate 7.0 % 7.0 % Operating cash flows from operating leases $ 174,640 $ 149,700 Operating cash flows from finance leases $ 4,807 $ -
Schedule of Lease Assets and Liabilities	A summary of the Company’s lease assets and liabilities are as follows: December 31, 2023 2022 Operating lease right-of-use asset $ 333,267 $ 465,514 Finance leases in Property and Equipment 15,152 21,067 Total lease assets 348,419 486,581 Current portion of operating lease liability 162,990 168,706 Current portion of finance lease liability included in accrued expenses 4,807 4,807 Noncurrent operating lease liabilities 189,987 323,915 Noncurrent finance lease liabilities 12,321 15,823 Total lease liabilities $ 370,105 $ 513,251
Schedule of Estimated Operating Lease Payments	The following table reconciles the undiscounted lease liabilities to the total lease liabilities recognized on the consolidated balance sheet as of December 31, 2023: Year Operating Lease Finance 2024 $ 162,990 $ 4,807 2025 100,000 4,807 2026 100,000 4,807 2027 25,000 5,207 Thereafter - - Total future lease payments 387,990 19,628 Less: Imputed interest 35,013 2,500 Present value of lease liability $ 352,977 $ 17,128

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	12 Months Ended
	Dec. 31, 2023
Supplemental Balance Sheet Information [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following: December 31, 2023 2022 Prepaid insurance $ 136,342 $ 751,979 Vendor prepayments 558,959 681,218 Prepaid other 51,962 240,283 Total prepaid expenses and other current assets $ 747,263 $ 1,673,480
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: December 31, 2023 2022 Accrued personnel costs $ 566,087 $ 533,577 Goods received but unpaid 78,579 10,077 Accrued expenses for CFO separation agreement 160,000 - Accrued legal fees 157,670 61,737 Accrued other 154,575 230,339 Total accrued expenses and other current liabilities $ 1,116,911 $ 835,730

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax [Abstract]
Schedule of Deferred Tax Assets	Significant components of the Company’s deferred tax assets are as follows: As of December 31, 2023 2022 Deferred tax assets: Net operating losses $ 4,553,431 $ 3,043,585 Tax credits 546,325 190,489 Intangible assets 58,063 66,716 Capitalized R&D expenses 2,106,995 1,018,165 Fixed assets 114,657 37,580 Other 314,958 272,106 Total deferred tax assets 7,694,429 4,628,641 Valuation allowance (7,694,429 ) (4,628,641 ) Deferred tax asset, net of allowance $ - $ -
Schedule of Statutory Tax Rates and Effective Tax Rates	A reconciliation of the statutory tax rates and the effective tax rates for the years ended December 2023 and 2022 is as follows: Year Ended December 31, 2023 2022 Federal statutory rate 21.00 % 21.00 % State income taxes, net of federal benefit and tax credits 7.43 % 6.86 % Change in valuation allowance (30.80 )% (29.06 )% Permanent differences 2.37 % 1.20 % Effective tax rate 0.00 % 0.00 %

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Details) - USD ($)						12 Months Ended
	Aug. 24, 2023	Aug. 08, 2023	Aug. 07, 2023	Apr. 25, 2023	Oct. 25, 2022	Dec. 31, 2023	Dec. 31, 2022	Jan. 02, 2024	Jul. 24, 2023	Apr. 07, 2023
Nature of Operations and Basis of Presentation (Details) [Line Items]
Price per share		$ 1
Exercisable warrant						1
Exercise price per share			$ 9.2063			$ 7.24
Purchase price of per underlying warrant share						$ 0.125
Cash fee			$ 111,359
Percentage of cash fees			7%
Management fee			$ 15,908
Percentage of management fees			1%
Non-accountable expenses			$ 45,000
Clearing fees			$ 15,950
Warrants to purchase			15,120
Common stock percentage			7%
Offering price percentage										125%
Gross proceeds						$ 1,590,840
Offering costs						$ 413,544
Common stock closing bid price		$ 1		$ 1	$ 1
Common stock shares outstanding						1,239,140	1,010,560
Cash and cash equivalents						$ 2,208,516	$ 10,114,990
Current liabilities						$ 1,771,375	$ 1,640,254
IPO [Member]
Nature of Operations and Basis of Presentation (Details) [Line Items]
Sale of shares	216,000
Price per share	$ 7.365							$ 1.3
Private Placement [Member]
Nature of Operations and Basis of Presentation (Details) [Line Items]
Class of warrants or rights warrants issued during the period						216,000
Maximum [Member]
Nature of Operations and Basis of Presentation (Details) [Line Items]
Common stock shares outstanding									100,000,000
Minimum [Member]
Nature of Operations and Basis of Presentation (Details) [Line Items]
Common stock shares outstanding									7,500,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Summary of Significant Accounting Policies [Line Items]
Interest income	$ 164,900	$ 89,673

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Diluted Net Loss Per Share - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Class A warrants for common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	124,200	124,200
Class B warrants for common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	3,770	3,770
Warrants for Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	271,714	40,594
Options to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	29,770	35,992
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	7,875

License and Supply Agreement _2

License and Supply Agreement with Toray Industries (Details) - USD ($)	Oct. 23, 2023	Oct. 06, 2020
License and Supply Agreement with Toray Industries [Line Items]
Payments (in Dollars)		$ 120,000
Percentage of net sales		15%
Sale term for the period		5 years
Annual royalty payments (in Dollars)		$ 100,000
License term	10 years
Royalty percentage	50%
First Year [Member]
License and Supply Agreement with Toray Industries [Line Items]
Annual royalty payments (in Dollars)		$ 60,000
Maximum [Member]
License and Supply Agreement with Toray Industries [Line Items]
License agreement	15%
Minimum [Member]
License and Supply Agreement with Toray Industries [Line Items]
License agreement	7.50%

Warrants (Details)

Warrants (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Warrants [Line Items]
Warrants (in Dollars)	$ 10
Warrants [Member]
Warrants [Line Items]
Number of warrant issued	216,000
Placement Agent Warrants [Member]
Warrants [Line Items]
Number of warrant issued	15,120
Class B Warrants [Member]
Warrants [Line Items]
Warrant exercised	0	2,005
Class A Warrants [Member]
Warrants [Line Items]
Warrant exercised		0

Warrants (Details) - Schedule o

Warrants (Details) - Schedule of Information with Regard to Warrants Outstanding	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Common Stock Warrants [Member]
Schedule of Information with Regard to Warrants Outstanding [Abstract]
Warrants outstanding Shares | shares	271,714
Warrants outstanding Exercisable for Common Stock	Common Stock
Warrants outstanding Weighted Average Exercise Price | $ / shares	$ 15.94
Warrants outstanding Weighted Average Remaining Life (in Years)	4 years 3 months 18 days
Class A Warrants [Member]
Schedule of Information with Regard to Warrants Outstanding [Abstract]
Warrants outstanding Shares | shares	124,200
Warrants outstanding Exercisable for Common Stock	Common Stock
Warrants outstanding Weighted Average Exercise Price | $ / shares	$ 140
Warrants outstanding Weighted Average Remaining Life (in Years)	2 years 9 months 18 days
Class B Warrants [Member]
Schedule of Information with Regard to Warrants Outstanding [Abstract]
Warrants outstanding Shares | shares	3,770
Warrants outstanding Exercisable for Common Stock	Common Stock
Warrants outstanding Weighted Average Exercise Price | $ / shares	$ 200
Warrants outstanding Weighted Average Remaining Life (in Years)	2 years 9 months 18 days

Stock Compensation (Details)

Stock Compensation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stock Compensation (Details) [Line Items]
Weighted average grant date fair value of options granted (in Dollars per share)	$ 10.6	$ 28.4
2018 Stock Incentive Plan [Member]
Stock Compensation (Details) [Line Items]
Number of shares of common stock reserved for issuance	31,472
Shares available for grants	13,113
2021 Incentive Plan [Member]
Stock Compensation (Details) [Line Items]
Number of shares of common stock reserved for issuance	98,000
Shares available for grants	40,377
Non-vested stock option [Member]
Stock Compensation (Details) [Line Items]
Unrecognized compensation expense (in Dollars)		$ 38,002
Weighted-average period	1 year 1 month 28 days
Non-Vested Restricted Stock Awards [Member]
Stock Compensation (Details) [Line Items]
Unrecognized compensation expense (in Dollars)	$ 14,060
Weighted-average period	9 months

Stock Compensation (Details) -

Stock Compensation (Details) - Schedule of Non-vested Restricted Stock Units - Non-vested Restricted Stock Awards [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Stock Compensation (Details) - Schedule of Non-vested Restricted Stock Units [Line Items]
Number of Shares, Outstanding at beginning balance | shares	3,000
Weighted Average Grant Date Fair Value, Outstanding at beginning balance | $ / shares	$ 25.8
Number of Shares, Granted | shares	25,609
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 8.8
Number of Shares, Vested | shares	(19,484)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 9.45
Number of Shares, Cancelled / forfeited | shares	(1,250)
Weighted Average Grant Date Fair Value, Cancelled / forfeited | $ / shares	$ 25.8
Number of Shares, Outstanding at ending balance | shares	7,875
Weighted Average Grant Date Fair Value, Outstanding at ending balance | $ / shares	$ 10.96

Stock Compensation (Details) _2

Stock Compensation (Details) - Schedule of Stock Option Activity	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Stock Compensation [Abstract]
Number of Stock Options, Outstanding at beginning balance | shares	35,992
Weighted Average Exercise Price Per Share, Outstanding at beginning balance | $ / shares	$ 39.25
Weighted Average Remaining Contractual Life in Years, Outstanding at beginning balance	6 years 6 months
Aggregate Intrinsic Value, Outstanding at beginning balance | $	$ 20,578
Number of Stock Options, Outstanding at ending balance | shares	29,770
Weighted Average Exercise Price Per Share, Outstanding at ending balance | $ / shares	$ 36.51
Weighted Average Remaining Contractual Life in Years, Outstanding at ending balance	6 years 8 months 12 days
Number of Stock Options, Exercisable | shares	25,548
Weighted Average Exercise Price Per Share, Exercisable | $ / shares	$ 35.59
Weighted Average Remaining Contractual Life in Years, Exercisable	6 years 6 months
Number of Stock Options, Granted | shares	1,000
Weighted Average Exercise Price Per Share, Granted | $ / shares	$ 10.6
Number of Stock Options, Exercised | shares
Weighted Average Exercise Price Per Share, Exercised | $ / shares
Number of Stock Options, Cancelled / forfeited | shares	(7,222)
Weighted Average Exercise Price Per Share, Cancelled / forfeited | $ / shares	$ 46.57

Stock Compensation (Details) _3

Stock Compensation (Details) - Schedule of Grant-Date Fair Value of Stock Option Awards Granted	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Grant-Date Fair Value of Share-Based Awards Granted [Line Items]
Risk-free interest rate	3.63%
Expected dividend yield	0%	0%
Volatility factor	108.78%
Expected life of option (in years)	6 years
Minimum [Member]
Schedule of Grant-Date Fair Value of Share-Based Awards Granted [Line Items]
Risk-free interest rate		1.58%
Volatility factor		102.03%
Expected life of option (in years)		5 years 4 months 24 days
Maximum [Member]
Schedule of Grant-Date Fair Value of Share-Based Awards Granted [Line Items]
Risk-free interest rate		4.35%
Volatility factor		107.36%
Expected life of option (in years)		6 years

Stock Compensation (Details) _4

Stock Compensation (Details) - Schedule of Stock-Based Compensation Expense - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Stock-Based Compensation Expense [Line Items]
Total stock-based compensation	$ 189,245	$ 433,004
Research and development [Member]
Schedule of Stock-Based Compensation Expense [Line Items]
Total stock-based compensation	62,955	64,352
General and administrative [Member]
Schedule of Stock-Based Compensation Expense [Line Items]
Total stock-based compensation	133,840	367,702
Marketing and business development [Member]
Schedule of Stock-Based Compensation Expense [Line Items]
Total stock-based compensation	$ (7,550)	$ 950

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transactions [Line Items]
Sold to toray			$ 249,040
NanoHybrids Inc. [Member]
Related Party Transactions [Line Items]
Bill rate additional cost percentage				10%
Toray Industries, Inc. [Member]
Related Party Transactions [Line Items]
Sold to toray	$ 249,040

Related Party Transactions (D_2

Related Party Transactions (Details) - Schedule of Due from Related Parties - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income from NanoHybrids included in Other Income [Member]
Related Party Transaction [Line Items]
Due from NanoHybrids	$ 178,042	$ 163,256
Cash receipts from NanoHybrids [Member]
Related Party Transaction [Line Items]
Due from NanoHybrids	$ 156,504	$ 143,525

Related Party Transactions (D_3

Related Party Transactions (Details) - Schedule of Balance Due - USD ($)	Dec. 31, 2023	Dec. 31, 2022
NanoHybrids Inc. [Member]
Related Party Transactions (Details) - Schedule of Balance Due [Line Items]
Amounts receivable from NanoHybrids included in Prepaids and Other Current Assets	$ 41,269	$ 19,731

Property and Equipment (Details

Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)
Property and Equipment [Abstract]
Additional depreciation	$ 382,795

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of Property and Equipment, Net - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 2,529,457	$ 1,828,476
Less: accumulated depreciation	(1,243,716)	(596,406)
Property and equipment, net	1,285,741	1,232,070
Construction-in-process [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	1,052,822	375,466
Furniture, fixtures, and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 141,164	136,942
Furniture, fixtures, and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	3 years
Furniture, fixtures, and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	5 years
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	3 years
Property and equipment, Gross	$ 4,457	4,457
Lab equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 1,287,783	1,268,380
Lab equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	3 years
Lab equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciable lives	5 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 43,231	$ 43,231
Property and equipment, depreciable lives, description	Life of lease

Leases (Details) - Schedule of

Leases (Details) - Schedule of Lease Arrangements for Office and Laboratory Space - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of lease arrangements for office and laboratory space [Abstract]
Weighted average remaining lease term - operating leases (in years)	2 years 10 months 24 days	3 years 8 months 12 days
Weighted average remaining lease term - finance leases (in years)	4 years 1 month 6 days	5 years 1 month 6 days
Weighted average discount rate	7%	7%
Operating cash flows from operating leases	$ 174,640	$ 149,700
Operating cash flows from finance leases	$ 4,807

Schedule of Lease Assets and Li

Schedule of Lease Assets and Liabilities (Details) - Schedule of Lease Assets and Liabilities - USD ($)	Dec. 31, 2023	Dec. 31, 2022
ASU201602Transition Abstract
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Operating lease right-of-use asset	Operating lease right-of-use asset
Operating lease right-of-use asset	$ 333,267	$ 465,514
Finance leases in Property and Equipment	15,152	21,067
Total lease assets	$ 348,419	$ 486,581
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current portion of operating lease liability	Current portion of operating lease liability
Current portion of operating lease liability	$ 162,990	$ 168,706
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current liabilities	Current liabilities
Current portion of finance lease liability included in accrued expenses	$ 4,807	$ 4,807
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Noncurrent operating lease liabilities	Noncurrent operating lease liabilities
Noncurrent operating lease liabilities	$ 189,987	$ 323,915
Finace Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities
Noncurrent finance lease liabilities	$ 12,321	$ 15,823
Total lease liabilities	$ 370,105	$ 513,251

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Estimated Operating Lease Payments	Dec. 31, 2023 USD ($)
Schedule of estimated lease payments [Abstract]
2024	$ 162,990
2024	4,807
2025	100,000
2025	4,807
2026	100,000
2026	4,807
2027	25,000
2027	5,207
Thereafter
Thereafter
Total future lease payments	387,990
Total future lease payments	19,628
Less: Imputed interest	35,013
Less: Imputed interest	2,500
Present value of lease liability	352,977
Present value of lease liability	$ 17,128

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)			12 Months Ended
	Sep. 26, 2023	Oct. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies (Details) [Line Items]
Purchase goods		$ 800,000
Prepaid percentage		50%
Approximately amount				$ 375,000
Non-cancelable purchase commitment amount	$ 240,000
Accrued amount	150,000
Accrued bonuses	$ 90,000
Accrued expenses			$ 1,116,911	$ 835,730
Royalty payments percentage			7.50%
Net sales of the cartridges for the period			10 years
Royalty rate percentage			50%
Contract Manufacturing Organization [Member]
Commitments and Contingencies (Details) [Line Items]
Non-cancelable purchase commitment amount			$ 240,000
Manufacturing Line Development [Member]
Commitments and Contingencies (Details) [Line Items]
Non-cancelable purchase commitment amount			80,000
Separation Agreement [Member]
Commitments and Contingencies (Details) [Line Items]
Accrued expenses			$ 160,000

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information (Details) - Schedule of Prepaid Expenses and Other Current Assets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule of Prepaid Expenses and Other Current Assets [Abstract]
Prepaid insurance	$ 136,342	$ 751,979
Vendor prepayments	558,959	681,218
Prepaid other	51,962	240,283
Total prepaid expenses and other current assets	$ 747,263	$ 1,673,480

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information (Details) - Schedule of Accrued Expenses and Other Current Liabilities - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule of Accrued Expenses and Other Current Liabilities [Abstract]
Accrued personnel costs	$ 566,087	$ 533,577
Goods received but unpaid	78,579	10,077
Accrued expenses for CFO separation agreement	160,000
Accrued legal fees	157,670	61,737
Accrued other	154,575	230,339
Total accrued expenses and other current liabilities	$ 1,116,911	$ 835,730

Income Tax (Details)

Income Tax (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax [Line Items]
Valuation allowance deferred tax assets	$ 3,100,000	$ 2,700,000
Federal net operating losses	16,800,000
Operating losses carried forward	16,100,000
State net operating losses	$ 16,300,000	$ 10,800,000
Operating loss carryforwards expiration years	20 years	20 years
Prior To Two Thousand Eighteen [Member]
Income Tax [Line Items]
Federal net operating losses	$ 713,000
Tax Year 2018 [Member]
Income Tax [Line Items]
Taxable income	80%

Income Tax (Details) - Schedule

Income Tax (Details) - Schedule of Deferred Tax Assets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating losses	$ 4,553,431	$ 3,043,585
Tax credits	546,325	190,489
Intangible assets	58,063	66,716
Capitalized R&D expenses	2,106,995	1,018,165
Fixed assets	114,657	37,580
Other	314,958	272,106
Total deferred tax assets	7,694,429	4,628,641
Valuation allowance	(7,694,429)	(4,628,641)
Deferred tax asset, net of allowance

Income Tax (Details) - Schedu_2

Income Tax (Details) - Schedule of Statutory Tax Rates and Effective Tax Rates	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Statutory Tax Rates and Effective Tax Rates [Abstract]
Federal statutory rate	21%	21%
State income taxes, net of federal benefit and tax credits	7.43%	6.86%
Change in valuation allowance	(30.80%)	(29.06%)
Permanent differences	2.37%	1.20%
Effective tax rate	0%	0%

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)			1 Months Ended
	Jan. 02, 2024	Jan. 02, 2024	Jan. 31, 2024	Feb. 28, 2024	Dec. 31, 2023	Aug. 24, 2023	Aug. 08, 2023	Dec. 31, 2022
Subsequent Events [Line Items]
Common stock	537,768	537,768	188,462		1,239,140			1,010,560
Common stock par value (in Dollars per share)	$ 0.0001	$ 0.0001			$ 0.0001			$ 0.0001
Price per share (in Dollars per share)							$ 1
Warrant exercise price (in Dollars)		$ 1.2999	$ 1.625
Warrants and rights outstanding, Term					5 years
Cash fees (in Dollars)			$ 245,000
Equal cash fee percentage			7%
management fee (in Dollars)			$ 35,000
Percentage of gross proceeds raised			1%
Offering price percentage			125%
Public Offering Price [Member]
Subsequent Events [Line Items]
Price per share (in Dollars per share)	$ 1.3	$ 1.3				$ 7.365
Common Stock [Member]
Subsequent Events [Line Items]
Stock option, exercise price (in Dollars per share)		$ 1.3
Prefunded Warrants [Member]
Subsequent Events [Line Items]
Common stock			174,770
Prefunded Warrants [Member]
Subsequent Events [Line Items]
Aggregate shares of common stock			7%
Prefunded Warrants [Member] | Common Stock [Member]
Subsequent Events [Line Items]
Purchase of stock	2,154,540
Purchase of stock	2,692,308	2,692,308
Forecast [Member]
Subsequent Events [Line Items]
Common stock price per share (in Dollars per share)				$ 1