INmune Bio (INMB) 10-Q 31 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Information [Line Items]
Entity Registrant Name	INMUNE BIO INC.
Entity Central Index Key	0001711754
Entity File Number	001-38793
Entity Tax Identification Number	47-5205835
Entity Incorporation, State or Country Code	NV
Current Fiscal Year End Date	--12-31
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 Contact Personnel [Line Items]
Entity Address, Address Line One	225 NE Mizner Blvd.
Entity Address, Address Line Two	Suite 640
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33432
Entity Phone Fax Numbers [Line Items]
City Area Code	(858)
Local Phone Number	964-3720
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	INMB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		22,172,451

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 33,552	$ 35,848
Research and development tax credit receivable	1,109	1,905
Other tax receivable	311	537
Prepaid expenses and other current assets	864	1,510
TOTAL CURRENT ASSETS	35,851	39,942
Operating lease – right of use asset	335	414
Other assets	82	131
Acquired in-process research and development intangible assets	16,514	16,514
TOTAL ASSETS	52,782	57,001
CURRENT LIABILITIES
Accounts payable and accrued liabilities	10,590	7,901
Deferred liabilities	549	489
Current portion of long-term debt	2,494	9,921
Operating lease, current liability	135	119
TOTAL CURRENT LIABILITIES	13,823	18,465
Long-term operating lease liability	284	397
TOTAL LIABILITIES	14,107	18,862
COMMITMENTS AND CONTINGENCIES
Redeemable common stock, $0.001 par value; no shares and 75,697 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively (Note 9)		799
STOCKHOLDERS’ EQUITY
Preferred stock, $0.001 par value, 10,000,000 shares authorized, 0 shares issued and outstanding
Common stock, $0.001 par value, 200,000,000 shares authorized, and 22,172,451 and 17,950,776 shares issued and outstanding, respectively	22	18
Additional paid-in capital	193,575	159,143
Accumulated other comprehensive loss	(1,036)	(799)
Accumulated deficit	(153,886)	(121,022)
TOTAL STOCKHOLDERS’ EQUITY	38,675	37,340
TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND STOCKHOLDERS’ EQUITY	52,782	57,001
Related Party
CURRENT ASSETS
Prepaid expenses – related party	15	142
CURRENT LIABILITIES
Accounts payable and accrued liabilities – related parties	$ 55	$ 35

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Redeemable common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Redeemable common stock, shares issued		75,697
Redeemable common stock, shares outstanding		75,697
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	22,172,451	17,950,776
Common stock, shares outstanding	22,172,451	17,950,776

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
REVENUE		$ 43	$ 14	$ 127
OPERATING EXPENSES
General and administrative	2,219	2,586	7,369	7,223
Research and development	10,067	5,985	25,813	14,266
Total operating expenses	12,286	8,571	33,182	21,489
LOSS FROM OPERATIONS	(12,286)	(8,528)	(33,168)	(21,362)
OTHER INCOME (EXPENSE), NET	193	(35)	304	(238)
NET LOSS	$ (12,093)	$ (8,563)	$ (32,864)	$ (21,600)
Net loss per common share – basic (in Dollars per share)	$ (0.6)	$ (0.48)	$ (1.71)	$ (1.2)
Net loss per common share – diluted (in Dollars per share) (in Dollars per share)	$ (0.6)	$ (0.48)	$ (1.71)	$ (1.2)
Weighted average common shares outstanding – basic (in Shares)	20,185,676	18,008,295	19,176,853	17,966,990
Weighted average common shares outstanding – diluted (in Shares) (in Shares)	20,185,676	18,008,295	19,176,853	17,966,990
COMPREHENSIVE LOSS
Net loss	$ (12,093)	$ (8,563)	$ (32,864)	$ (21,600)
Other comprehensive loss – foreign currency translation	(323)	(23)	(237)	(36)
Total comprehensive loss	$ (12,416)	$ (8,586)	$ (33,101)	$ (21,636)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total
Balance at Dec. 31, 2022	$ 18	$ 151,799	$ (699)	$ (91,014)	$ 60,104
Balance (in Shares) at Dec. 31, 2022	17,945,995
Stock-based compensation		1,737			1,737
Gain (Loss) on foreign currency translation			(9)		(9)
Net loss				(6,536)	(6,536)
Balance at Mar. 31, 2023	$ 18	153,536	(708)	(97,550)	55,296
Balance (in Shares) at Mar. 31, 2023	17,945,995
Balance at Dec. 31, 2022	$ 18	151,799	(699)	(91,014)	60,104
Balance (in Shares) at Dec. 31, 2022	17,945,995
Gain (Loss) on foreign currency translation					(36)
Net loss					(21,600)
Balance at Sep. 30, 2023	$ 18	157,264	(735)	(112,614)	43,933
Balance (in Shares) at Sep. 30, 2023	17,945,995
Balance at Mar. 31, 2023	$ 18	153,536	(708)	(97,550)	55,296
Balance (in Shares) at Mar. 31, 2023	17,945,995
Stock-based compensation		1,863			1,863
Gain (Loss) on foreign currency translation			(4)		(4)
Net loss				(6,501)	(6,501)
Balance at Jun. 30, 2023	$ 18	155,399	(712)	(104,051)	50,654
Balance (in Shares) at Jun. 30, 2023	17,945,995
Stock-based compensation		1,889			1,889
Common stock issued for cash		775			775
Common stock issued for cash (in Shares)	75,697
Reclassification to redeemable common stock		(799)			(799)
Reclassification to redeemable common stock (in Shares)	(75,697)
Gain (Loss) on foreign currency translation			(23)		(23)
Net loss				(8,563)	(8,563)
Balance at Sep. 30, 2023	$ 18	157,264	(735)	(112,614)	43,933
Balance (in Shares) at Sep. 30, 2023	17,945,995
Balance at Dec. 31, 2023	$ 18	159,143	(799)	(121,022)	37,340
Balance (in Shares) at Dec. 31, 2023	17,950,776
Stock-based compensation		1,779			1,779
Gain (Loss) on foreign currency translation			130		130
Net loss				(11,025)	(11,025)
Balance at Mar. 31, 2024	$ 18	160,922	(669)	(132,047)	28,224
Balance (in Shares) at Mar. 31, 2024	17,950,776
Balance at Dec. 31, 2023	$ 18	159,143	(799)	(121,022)	37,340
Balance (in Shares) at Dec. 31, 2023	17,950,776
Gain (Loss) on foreign currency translation					(237)
Net loss					(32,864)
Balance at Sep. 30, 2024	$ 22	193,575	(1,036)	(153,886)	38,675
Balance (in Shares) at Sep. 30, 2024	22,172,451
Balance at Mar. 31, 2024	$ 18	160,922	(669)	(132,047)	28,224
Balance (in Shares) at Mar. 31, 2024	17,950,776
Stock-based compensation		2,350			2,350
Common stock issued for cash		2,032			2,032
Common stock issued for cash (in Shares)	198,364
Common stock and warrants issued for cash	$ 2	13,463			13,465
Common stock and warrants issued for cash (in Shares)	1,557,592
Gain (Loss) on foreign currency translation			(44)		(44)
Net loss				(9,746)	(9,746)
Balance at Jun. 30, 2024	$ 20	178,767	(713)	(141,793)	36,281
Balance (in Shares) at Jun. 30, 2024	19,706,732
Stock-based compensation		1,719			1,719
Common stock and warrants issued for cash	$ 2	12,290			12,292
Common stock and warrants issued for cash (in Shares)	2,390,022
Reclassification from redeemable common stock		799			799
Reclassification from redeemable common stock (in Shares)	75,697
Gain (Loss) on foreign currency translation			(323)		(323)
Net loss				(12,093)	(12,093)
Balance at Sep. 30, 2024	$ 22	$ 193,575	$ (1,036)	$ (153,886)	$ 38,675
Balance (in Shares) at Sep. 30, 2024	22,172,451

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (32,864)	$ (21,600)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	5,848	5,489
Accretion of debt discount	73	179
Changes in operating assets and liabilities:
Research and development tax credit receivable	796	6,012
Other tax receivable	226	186
Prepaid expenses	646	2,492
Prepaid expenses – related party	127	34
Other assets	49	(30)
Accounts payable and accrued liabilities	2,689	(1,531)
Accounts payable and accrued liabilities – related parties	20	70
Deferred liabilities	60	(120)
Accrued liability – long-term		254
Operating lease liabilities	(18)	(14)
Net cash used in operating activities	(22,348)	(8,579)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from sale of common stock and warrants	27,789	775
Repayments of debt	(7,500)	(2,500)
Net cash provided by financing activities	20,289	(1,725)
Impact on cash from foreign currency translation	(237)	(36)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(2,296)	(10,340)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	35,848	52,153
CASH AND CASH EQUIVALENTS AT END OF PERIOD	33,552	41,813
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid for income taxes
Cash paid for interest expense	$ 661	$ 1,394

Organization and Description of

Organization and Description of Business	9 Months Ended
	Sep. 30, 2024
Organization and Description of Business [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 INmune Bio Inc. (the “Company” or “INmune Bio”) was organized in the State of Nevada on September 25, 2015 and is a clinical stage biotechnology pharmaceutical company focused on developing and commercializing its product candidates to treat diseases where the innate immune system is not functioning normally and contributing to the patient’s disease. INmune Bio has two product platforms. The DN-TNF product platform utilizes dominant-negative technology to selectively neutralize soluble TNF, a key driver of innate immune dysfunction and mechanistic target of many diseases. DN-TNF is currently being developed for Alzheimer’s and treatment resistant depression (“XPro”) and cancer (“INB03”) and an out-licensing strategy. The Natural Killer Cell Priming Platform includes INKmune aimed at priming the patient’s NK cells to eliminate minimal residual disease in patients with cancer. INmune Bio’s product platforms utilize a precision medicine approach for the treatment of a wide variety of hematologic malignancies, solid tumors and chronic inflammation.

Going Concern

Going Concern	9 Months Ended
	Sep. 30, 2024
Going Concern [Abstract]
GOING CONCERN	NOTE 2 These unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred significant losses and negative cash flows from operations since inception and expects to incur additional losses until such time that it can generate significant revenue from the commercialization of its product candidates. During the nine months ended September 30, 2024, the Company incurred a net loss of $32.9 million and had net cash flows used in operating activities of $22.3 million. Given the Company’s projected operating requirements and its existing cash and cash equivalents, the Company is projecting insufficient liquidity to sustain its operations through one year following the date that the financial statements are issued. These conditions and events raise substantial doubt about the Company’s ability to continue as a going concern. In response to these conditions, management is currently evaluating different strategies to obtain the required funding of future operations. Financing strategies may include, but are not limited to, the public or private sale of equity, debt financings or funds from other capital sources, such as government funding, collaborations, strategic alliances, divestment of non-core assets, or licensing arrangements with third parties. There can be no assurances that the Company will be able to secure additional financing, or if available, that it will be sufficient to meet its needs or on favorable terms. Because management’s plans have not yet been finalized and are not within the Company’s control, the implementation of such plans cannot be considered probable. As a result, the Company has concluded that management’s plans do not alleviate substantial doubt about the Company’s ability to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 Basis of Presentation The accompanying financial statements are presented in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”), and pursuant to the accounting and disclosure rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The unaudited condensed consolidated financial statements include the accounts of INmune Bio Inc. and its subsidiaries. Intercompany transactions and balances have been eliminated. In the opinion of management, the interim financial information includes all normal recurring adjustments necessary for a fair statement of the results for the interim periods. Risks and Uncertainties The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, protection of proprietary technology, dependence on key personnel, compliance with government regulations and the need to obtain additional financing to fund operations. Product candidates currently under development will require significant additional research and development efforts, including extensive preclinical studies, clinical trials and regulatory approval prior to commercialization. These efforts require significant amounts of additional resources, adequate personnel, infrastructure and extensive compliance and reporting. There can be no assurance that the Company’s research and development will be successfully completed, that adequate protection for the Company’s intellectual property will be obtained or maintained, that any products developed will obtain necessary government regulatory approval or that any approved products will be commercially viable. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will generate any revenue from any of its products. The Company operates in an environment of rapid change in technology and substantial competition from other pharmaceutical and biotechnology companies. The Company relies and expects to continue to rely on a small number of vendors to manufacture supplies and materials for its use in the clinical trial programs. These programs could be adversely affected by a significant interruption in these manufacturing services. Use of Estimates Preparing financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions. Fair Value of Financial Instruments The Company measures certain assets and liabilities in accordance with authoritative guidance which requires fair value measurements to be classified and disclosed in one of the following three categories: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. The Company reviews the fair value hierarchy classification on a quarterly basis. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain assets or liabilities within the fair value hierarchy. The Company did not have any transfers of assets and liabilities between the levels of the fair value measurement hierarchy during the years presented. The carrying amounts of financial instruments such as cash and cash equivalents, research and development tax credit receivable, other receivable, prepaid expenses, and accounts payable and accrued liabilities approximate the related fair values due to the short-term maturities of these instruments. Cash and Cash Equivalents The Company considers all short-term, highly liquid investments with an original maturity at the date of purchase of three months or less to be cash equivalents. The Company maintains cash balances that may be uninsured or in deposit accounts that exceed Federal Deposit Insurance Corporation limits. The Company maintains its cash deposits with major financial institutions. Accounts Receivable and Notes Receivable Accounts receivable are presented net of allowances for credit losses. Research and Development Tax Incentive Receivable The Company, through its wholly owned subsidiary in Australia (“AUS”), participates in the Australian research and development tax incentive program, such that a percentage of our qualifying research and development expenditures are reimbursed by the Australian government, and such incentives are reflected as a reduction of research and development expense. The Australian research and development tax incentive is recognized when there is reasonable assurance that the incentive will be received, the relevant expenditure has been incurred and the amount of the consideration can be reliably measured. At each period end, management estimates the reimbursement available to the Company based on available information at the time. The Company, through its wholly owned subsidiary in the United Kingdom (“UK”), participates in the research and development program provided by the United Kingdom tax relief program, such that a percentage of our qualifying research and development expenditures are reimbursed by the United Kingdom government, and such incentives are reflected as a reduction of research and development expense. The United Kingdom research and development tax incentive is recognized when there is reasonable assurance that the incentive will be received, the relevant expenditure has been incurred and the amount of the consideration can be reliably measured. At each period end, management estimates the reimbursement available to the Company based on available information at the time. Intangible Assets The Company capitalizes costs incurred in connection with in-process research and development purchased from others if the asset has alternative uses and such uses are not restricted under applicable license agreements; patent applications (principally legal fees), patent purchases, and trademarks related to its cell line as intangible assets. Acquired in-process research and development costs that do not have alternative uses are expensed as incurred. When the assets are determined to have a finite life (upon completion of the development of the in-process research and development for its DN-TNF platform), the useful life will be determined and the in-process research and development intangible assets will be amortized. During the fourth quarter and if business factors indicate more frequently, the Company performs an assessment of the qualitative factors affecting the fair value of our in-process research and development. If the qualitative assessment suggests that impairment is more likely than not, a quantitative analysis is performed. The quantitative analysis involves a comparison of the fair value of the in-process research and development with the carrying amount. If the carrying amount of the in-process research and development exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. Basic and Diluted Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position. At September 30, 2024 and 2023, the Company had potentially issuable shares as follows: September 30, 2024 2023 Stock options 6,296,807 5,501,000 Warrants 3,944,238 74,074 Total 10,241,045 5,575,074 Revenue Recognition The Company recognizes revenue when the customer obtains control of promised goods or services, in an amount that reflects the consideration the Company expects to receive in exchange for those goods or services. The Company recognizes revenue following the five-step model prescribed under ASC Topic 606: (1) identify contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenues when (or as) the Company satisfies the performance obligations. The Company records the expenses related to revenue in research and development expense, in the periods such expenses were incurred. The Company records deferred revenues when cash payments are received or due in advance of performance, including amounts which are refundable. Stock-Based Compensation The Company utilizes the Black-Scholes option pricing model to estimate the fair value of stock option awards at the date of grant, which requires the input of highly subjective assumptions, including expected volatility and expected life. Changes in these inputs and assumptions can materially affect the measure of estimated fair value of our share-based compensation. These assumptions are subjective and generally require significant analysis and judgment to develop. When estimating fair value, some of the assumptions will be based on, or determined from, external data and other assumptions may be derived from our historical experience with stock-based payment arrangements. The appropriate weight to place on historical experience is a matter of judgment, based on relevant facts and circumstances. The Company accounts for forfeitures of stock options as they occur. Research and Development Research and development (“R&D”) costs are expensed as incurred. Research and development credits are recorded by the Company as a reduction of research and development costs. Major components of research and development costs include cash compensation, stock-based compensation, costs of preclinical studies, clinical trials and related clinical manufacturing, costs of drug development, costs of materials and supplies, facilities cost, overhead costs, regulatory and compliance costs, and fees paid to consultants and other entities that conduct certain research and development activities on the Company’s behalf. The Company recognizes grants as contra research and development expense in the consolidated statement of operations on a systematic basis over the periods in which the entity recognizes as expenses the related costs for which the grants are intended to compensate. Income Taxes The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Foreign Currency Translation The Company’s financial statements are presented in the U.S. dollar (“$”), which is the Company’s reporting currency, while its functional currencies are the U.S. Dollar for its U.S. based operations, British Pound (“GBP”) for its United Kingdom-based operations and Australian Dollars (“AUD”) for its Australian-based operations. All assets and liabilities are translated at the exchange rate on the balance sheet date, stockholders’ equity is translated at historical rates and statement of operations items are translated at the weighted average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income. Gains and losses resulting from the translations of foreign currency transactions and balances are reflected in the statement of operations and comprehensive income (loss). Recently Adopted Accounting Pronouncements In December 2023, the Financial Accounting Standards Board “FASB”, issued Accounting Standards Update “ASU”, No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). The guidance in ASU 2023-09 improves the transparency of income tax disclosures by greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The standard is effective for public companies for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact that the adoption of ASU 2023-09 may have on its consolidated financial statements and related disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280). The amendments in this update expand segment disclosure requirements, including new segment disclosure requirements for entities with a single reportable segment among other disclosure requirements. This update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. Subsequent Events The Company evaluates events that have occurred after the balance sheet date of September 30, 2024, through the date which the financial statements are issued.

Research and Development Activi

Research and Development Activity	9 Months Ended
	Sep. 30, 2024
Research and Development Activity [Abstract]
RESEARCH AND DEVELOPMENT ACTIVITY	NOTE 4 According to AUS tax law, the Company is allowed an R&D tax credit that reduces a company’s tax bill in AUS for expenses incurred in R&D subject to certain requirements. The Company’s Australian subsidiary submits R&D tax credit requests annually for research and development expenses incurred. At September 30, 2024 and December 31, 2023, the Company recorded a research and development tax credit receivable of $1,109,000 and $1,905,000, respectively, for R&D expenses incurred in Australia. During the nine months ended September 30, 2024 and 2023, the Company received $2,475,000 and $3,763,000, respectively, of R&D tax credit reimbursements from Australia. Xencor, Inc. License Agreement On October 3, 2017, the Company entered into a license agreement (“Xencor License Agreement”) with Xencor, Inc. (“Xencor”), which discovered and developed a proprietary biological molecule that inhibits soluble tumor necrosis factor. On June 10, 2021, the Company and Xencor entered into a First Amendment to License Agreement pursuant to which, among other things, Section 3.2 of the Xencor License Agreement was amended to change the due diligence milestones. Pursuant to the Xencor License Agreement, Xencor granted the Company an exclusive worldwide, royalty-bearing license in licensed patent rights, licensed know-how and licensed materials (as defined in the license agreement) to make, develop, use, sell and import any pharmaceutical product that comprises, contains, or incorporates Xencor’s proprietary protein known as “XPro” that inhibits soluble tumor necrosis factor (or all modifications, formulations and variants of the licensed protein that specifically bind soluble tumor necrosis factor) alone or in combination with one or more active ingredients, in any dosage or formulation (“Licensed Products”). The Company believes the protein has numerous medical applications. Such additional alternative applications of the technology are available under the Xencor License Agreement. The Company also agreed to pay Xencor a 5% royalty on Net Sales of all Licensed Products in a given calendar year, which are payable on a country-by- country and licensed product by licensed product basis until the date that is the later of (a) the expiration of the last to expire valid claim covering such Licensed Product in such country or (b) ten years following the first sale to a third party of the licensed product in such country. INKmune License Agreement On October 29, 2015, the Company entered into an exclusive license agreement (the “INKmune License Agreement”) with Immune Ventures, LLC (“Immune Ventures”). Pursuant to the INKmune License Agreement, the Company was granted exclusive worldwide rights to the patents, including rights to incorporate any improvements or additions to the patents that may be developed in the future. In consideration for the patent rights, the Company agreed to the following milestone payments: (in thousands) Each Phase I initiation $ 25 Each Phase II initiation $ 250 Each Phase III initiation $ 350 Each NDA/EMA filing $ 1,000 Each NDA/EMA awarded $ 9,000 In addition, the Company agreed to pay the licensor a royalty of 1% of net sales during the life of each patent granted to the Company. The License is owned by Immune Ventures. RJ Tesi, the Company’s President and a member of our Board of Directors, David Moss, its Chief Financial Officer and Treasurer and Mark Lowdell, its Chief Scientific Officer, are the owners of Immune Ventures. No sales have occurred under this license. During December 2023, the Company initiated a Phase I trial with INKmune in patients with metastatic castration-resistant prostate cancer and has recorded a $25,000 payable to Immune Ventures as of September 30, 2024 and December 31, 2023. The term of the agreement began on October 29, 2015 and ends on a country-by-country basis on the date of the expiration of the last to expire patent rights where patent rights exists, unless terminated earlier in accordance with the agreement. Upon the termination of the agreement, we shall have a fully paid up, perpetual, royalty-free license without further obligation to Immune Ventures. The agreement can be terminated by Immune Ventures if, after 60 days from the Company’s receipt of notice that the Company has not made a payment under the agreement, and the Company still does not make this payment. On July 20, 2018 and October 30, 2020, the parties amended the agreement under which the Company was required achieve milestones pursuant to the agreement. On April 17, 2023, the parties executed an additional amendment to the agreement under which the Company removed the due diligence requirements to achieve reasonable commercial efforts to bring INKmune to market. This removed all requirements of clinical trial timelines and the filing timelines of an NDA or equivalent. All other provisions in the INKmune License Agreement shall continue in full force and effect. University of Pittsburg License Agreement On October 3, 2017, the Company entered into an Assignment and Assumption Agreement with Immune Ventures related to intellectual property licensed from the University of Pittsburgh. Pursuant to the Assignment and Assumption Agreement (“Assignment Agreement”), Immune Ventures assigned all of its rights, obligations and liabilities under an Exclusive License Agreement between the University of Pittsburgh – Of the Commonwealth System of Higher Education (“Licensor”) and Immune Ventures to INmune Bio (“Licensee”), (the “PITT Agreement”). Consideration under the PITT Agreement includes: (i) annual maintenance fees, (ii) royalty payments based on the sale of products making use of the licensed technology, and (iii) milestone payments. Beginning on June 26, 2025, the Company has annual maintenance fees under the PITT Agreement of $25,000 until first commercial sale. Upon first commercial sale of a product making use of the licensed technology under the PITT agreement, the Licensee is required to pay royalties equal to 2.5% of net sales each calendar quarter. Moreover, under the PITT Agreement the Licensee is required to make milestone payments as follows: (in thousands) Each Phase I initiation $ 50 Each Phase III initiation $ 500 First commercial sale of product making use of licensed technology $ 1,250 The Company had no amounts owed pursuant to the PITT Agreement as of September 30, 2024. The PITT Agreement expires upon the earlier of: (i) expiration of the last claim of the Patent Rights (as defined in the PITT Agreement) forming the subject matter of the PITT Agreement; or (ii) the date that is 20 years from the effective date of the agreement (June 26, 2037). The Licensee may terminate the PITT Agreement upon 3 months prior written notice provided all payments under the license are current. The Licensor may terminate the PITT Agreement upon written notice if: (i) Licensee defaults as to performance of material obligations which have not been cured within 60 days after receiving written notice; or (ii) Licensee ceases to carry out its business, becomes bankrupt or insolvent, applies for or consents to the appointment of a trustee, receiver or liquidator of its assets or seeks relief under any law for the aid of debtors.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Measurements [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 5 The following table presents the hierarchy for assets and liabilities measured at fair value on a recurring basis: (in thousands) Total Quoted Significant Significant September 30, 2024: Cash equivalents Treasury bills $ 10,146 $ 10,146 $ - $ - Money market funds 22,218 22,218 - - Total cash equivalents $ 32,364 $ 32,364 $ - $ - (in thousands) Total Quoted Significant Significant December 31, 2023: Cash equivalents Money market fund $ 35,162 $ 35,162 $ - $ - Total cash equivalents $ 35,162 $ 35,162 $ - $ -

Lease

Lease	9 Months Ended
	Sep. 30, 2024
Lease [Abstract]
LEASE	NOTE 6 The Company leases office space in Florida from a third party. The lease agreement has a 64-month term and commenced during 2021. Below is a summary of the Company’s right-of-use assets and liabilities: (in thousands, except years and rate) September 30, December 31, Right-of-use asset $ 335 $ 414 Operating lease, current liability $ 135 $ 119 Long-term operating lease liability $ 284 $ 397 Total lease liability $ 419 $ 516 Weighted-average remaining lease term 2.5 years 3.3 years Weighted-average discount rate 12.0 % 12.0 %

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 UCL At September 30, 2024 and December 31, 2023, the Company recorded $15,000 and $112,000, respectively, of prepaid expenses – related party for payments made to UCL in advance of medical research to be provided. During the nine months ended September 30, 2024 and 2023, the Company paid UCL and , respectively. UCL is a wholly owned subsidiary of the University of London. The Company’s Chief Scientific and Manufacturing Officer is a professor at the University of London. AmplifyBio At September 30, 2024 and December 31, 2023, the Company owed AmplifyBio $30,000 and $10,000, respectively, in connection with medical research performed on behalf of the Company. The CEO of AmplifyBio is on the Board of Directors of the Company. During the nine months ended September 30, 2024 and 2023, the Company paid AmplifyBio $324,000 and $7,000, respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2024
Debt [Abstract]
DEBT	NOTE 8 During June 2021, the Company entered into a Loan and Security Agreement (the “Term Loan”) with Silicon Valley Bank and SVB Innovation Credit Fund VIII, L.P. The Term Loan provided for a $15.0 million term loan, of which the Company borrowed the entire amount during 2021, and is secured by the Company’s assets. The term loan and debt discount are as follows as of September 30, 2024: (in thousands) Term Loan $ 2,500 Less: debt discount and financing costs, net (6 ) Current portion of debt $ 2,494 For the three and nine months ended September 30, 2024, the Company recognized interest expense of $145,000 and $752,000, respectively, related to the Term Loan. For the three and nine months ended September 30, 2023, the Company recognized interest expense of $568,000 and $1,811,000, respectively, related to the Term Loan. The Company is required to make interest and principal payments monthly through the maturity date of January 1, 2025. All outstanding principal and accrued and unpaid interest will be due and payable on the maturity date. The Term Loan provides for an annual interest rate equal to the greater of (i) the prime rate then in effect as reported in The Wall Street Journal plus 4.50% and (ii) 7.75%. At September 30, 2024, the interest rate was 12.5%. The Term Loan includes a final payment fee equal to 6.5% of the original principal amount borrowed payable on the earlier of the repayment of the loan in full and the maturity date. The Company has the option to prepay the outstanding balance of the term loan in full, subject to a prepayment premium of 1% of the original principal amount borrowed for any prepayment before the maturity date. Upon the occurrence of certain events, including but not limited to the Company’s failure to satisfy its payment obligations under the Term Loan, the breach of certain of its other covenants under the Term Loan, or the occurrence of a material adverse change, the Lenders will have the right, among other remedies, to declare all principal and interest immediately due and payable, and will have the right to receive the final payment fee and, if the payment of principal and interest is due prior to maturity, the applicable prepayment fee.

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 2024
Stockholders’ Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 9 Registered Direct Offerings During September 2024, the Company entered into securities purchase agreements with investors whereby the Company sold 2,341,260 shares of the Company’s common stock and warrants to purchase an additional 2,341,260 shares of the Company’s common stock exercisable six months from the issuance date in a registered direct offering in exchange for gross proceeds of $13.0 million (net proceeds of approximately $12.0 million). Directors During April 2024, the Company entered into a securities purchase agreement with an investor whereby the Company sold 986,000 shares of the Company’s common stock and warrants to purchase an additional 986,000 shares of the Company’s common stock in a registered direct offering in exchange for gross proceeds of approximately $9.7 million (net proceeds of approximately $8.9 million). The exercise price of the warrants is $9.84 and the term of the warrants is the earlier of (1) April 29, 2026 or (2) thirty trading days following the reporting of positive top line data in the Phase 2 Alzheimer’s program of XPro1595. The Company determined that the warrants were equity classified. The fair value of the warrants was approximately $5.8 million and was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 4.97% based on the applicable US Treasury bill rate (2) expected life of 2.0 years, (3) expected volatility of approximately 77% based on the trading history of the Company, and (4) zero expected dividends. During April 2024, the Company entered into securities purchase agreements with investors whereby the Company sold 571,592 shares of the Company’s common stock and warrants to purchase an additional 571,592 shares of the Company’s common stock in a registered direct offering in exchange for gross proceeds of approximately $4.8 million (net proceeds of approximately $4.5 million). Directors Common Stock – At the Market Offering During March 2021, the Company entered into a sales agreement (“Sales Agreement”) with BTIG, LLC (“BTIG”), as sales agent, to establish an At-The-Market (“ATM”) offering program of up to $45 million of common stock, which the Company amended in August 2023. The Company was required to pay BTIG a commission of 3% of the gross proceeds from the sale of shares. During the nine months ended September 30, 2024, the Company issued and sold 198,364 shares of common stock at an average price of $10.56 per share under the ATM program. The aggregate net proceeds were approximately $2.0 million after BTIG’s commission expenses. During August 2024, the Company entered into an amended and restated at-the-market sales agreement with RBC Capital Markets LLC and BTIG (together, the “Sales Agents”) relating to the offer and sale of shares of our common stock with an aggregate offering price of up to $75.0 million. This amended and restated at-the-market sales agreement replaced the Sales Agreement entered into with BTIG in March 2021, as amended in August 2023. The Company is required to pay the Sales Agents a commission of 3% of the gross proceeds from the sale of shares. During the nine months ended September 30, 2024, the Company issued and sold 48,762 shares of common stock at an average price of $6.96 per share under the ATM program. The aggregate net proceeds were approximately $0.3 million after commission expenses. At September 30, 2024, the Company had $74.7 million of common stock available under the amended and restated at-the-market agreement. During July 2023, the Company sold 75,697 shares of its common stock at an average price of $10.56 per share under the ATM program. The aggregate net proceeds were approximately $775,000 after offering expenses. These shares were inadvertently sold under a registration statement filed with the SEC that had in fact expired prior to the time the shares were sold. As of December 31, 2023, the Company reclassified 75,697 shares, with an aggregate purchase price of $799,000 of its common stock as temporary equity presented outside stockholders’ equity as a result of potential rescission rights. There have been no claims or demands to exercise such rights. As of September 30, 2024, the rescission rights for these shares have lapsed and the shares were reclassified to permanent equity. Stock options During the nine months ended September 30, 2024, the Company granted certain employees, directors and consultants, options to purchase 832,307 shares of its common stock pursuant to the 2021 Amended and Restated Incentive Stock Plan. The stock options had a fair value of approximately $6.8 million that was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 3.90% – 4.48% based on the applicable US Treasury bill rate (2) expected life of 5.0 – 10.0 years, (3) expected volatility of approximately 101% - 106% based on the trading history of similar companies, and (4) zero expected dividends. The following table summarizes stock option activity during the nine months ended September 30, 2024: (in thousands, except share and per share amounts) Number of Weighted- Weighted- Aggregate Outstanding at January 1, 2024 5,496,000 $ 8.73 6.18 $ 21,509 Options granted 832,307 $ 9.79 10.00 - Options exercised - $ - - - Options cancelled (31,500 ) $ 7.35 - - Outstanding at September 30, 2024 6,296,807 $ 8.87 5.90 $ 2,531 Exercisable at September 30, 2024 5,032,843 $ 8.62 5.19 $ 2,531 During the three and nine months ended September 30, 2024, the Company recognized stock-based compensation expense of approximately $1.7 million and $5.8 million, respectively, related to the vesting of stock options. During the three and nine months ended September 30, 2023, the Company recognized stock-based compensation expense of approximately $1.9 million and $5.5 million, respectively, related to the vesting of stock options. As of September 30, 2024, there was approximately $9.1 million of total unrecognized compensation cost related to non-vested stock options which is expected to be recognized over a weighted-average period of 2.33 years. Warrants The Company issued warrants to the Company’s lenders upon obtaining its loan in June 2021. The warrants have a 10-year term and an exercise price of $14.05. At September 30, 2024, 45,386 of these warrants are outstanding and the intrinsic value of these warrants is $0. During April 2024, the Company issued 1,557,592 warrants to investors in connection with the sale of common stock. At September 30, 2024, 1,557,592 of these warrants are outstanding and are exercisable for cash at a weighted average price of $9.59 per share. The intrinsic value of these warrants was $0 as of September 30, 2024. During September 2024, the Company issued 2,341,260 warrants to investors in connection with the sale of common stock. At September 30, 2024, 2,341,260 of these warrants are outstanding and are exercisable for cash at a weighted average price of $6.40 per share. The intrinsic value of these warrants was $0 as of September 30, 2024. Stock-based Compensation by Class of Expense The following summarizes the components of stock-based compensation expense in the consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023, respectively: (in thousands) Three Months Three Months Nine Months Nine Months Research and development $ 677 $ 705 $ 2,375 $ 2,043 General and administrative 1,042 1,184 3,473 3,446 Total $ 1,719 $ 1,889 $ 5,848 $ 5,489 Shareholder Rights Agreement On December 30, 2020, the Board of Directors (the “Board”) of the Company approved and adopted a Rights Agreement, dated as of December 30, 2020, by and between the Company and VStock Transfer, LLC, as rights agent, pursuant to which the Board declared a dividend of one preferred share purchase right (each, a “Right”) for each outstanding share of the Company’s common stock held by stockholders as of the close of business on January 11, 2021. When exercisable, each right initially would represent the right to purchase from the Company one one-thousandth of a share of a newly designated series of preferred stock, Series A Junior Participating Preferred Stock, par value $0.001 per share, of the Company, at an exercise price of $300.00 per one one-thousandth of a Series A Junior Participating Preferred Share, subject to adjustment. Subject to various exceptions, the Rights become exercisable in the event any person (excluding certain exempted or grandfathered persons) becomes the beneficial owner of twenty percent or more of the Company’s common stock without the approval of the Board. The Rights Agreement was amended in 2021, 2022 and 2023 to extend the expiration date and shall expire on December 30, 2024.

Collaborative Agreements

Collaborative Agreements	9 Months Ended
	Sep. 30, 2024
Collaborative Agreements [Abstract]
COLLABORATIVE AGREEMENTS	NOTE 10 During September 2020, the Company was awarded a grant of up to $2.9 million from the National Institutes of Health (“NIH”). The grant will support a Phase 2 study of XPro1595 in patients with treatment resistant depression. As of September 30, 2024, the Company has not received any proceeds pursuant to this grant.

Commitments

Commitments	9 Months Ended
	Sep. 30, 2024
Commitments [Abstract]
COMMITMENTS	NOTE 11 Lease During 2021, the Company signed a 64-month term lease agreement with a third party for office space in Boca Raton, Florida. Future minimum payments pursuant to the leases are as follows: (in thousands, except years) 2024 $ 47 2025 192 2026 198 2027 51 Total lease payments 488 Less: imputed interest (69 ) Present value of future lease payments 419 Less: operating lease, current liability (135 ) Long-term operating lease liability $ 284 During the three and nine months ended September 30, 2024, the Company recognized $40,000 and $120,000, respectively, in operating lease expense, which is included in general and administrative expenses in the Company’s consolidated statement of operations. During the three and nine months ended September 30, 2023, the Company recognized $41,000 and $123,000, respectively, in operating lease expense, which is included in general and administrative expenses in the Company’s consolidated statement of operations Dispute The Company has an ongoing dispute with a vendor in which the Company believes that the vendor did not properly provide services for which they have invoiced the Company. As of September 30, 2024, the Company has outstanding invoices with the vendor which aggregate approximately $1.2 million, of which the Company has recorded approximately $0.2 million, which is the Company’s estimate of the obligation incurred, and the remaining $1.0 million has not been recorded by the Company as the Company believes the invoices were sent erroneously. The Company and the vendor are still attempting to resolve the dispute and legal proceedings have not been threatened. Litigation The Company is subject to claims and suits that arise from time to time in the ordinary course of our business. Although management currently believes that resolving claims against the Company, individually or in aggregate, will not have a material adverse impact in the Company’s consolidated financial statements, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (12,093)	$ (9,746)	$ (11,025)	$ (8,563)	$ (6,501)	$ (6,536)	$ (32,864)	$ (21,600)

Insider Trading Arrangements

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

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial statements are presented in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”), and pursuant to the accounting and disclosure rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The unaudited condensed consolidated financial statements include the accounts of INmune Bio Inc. and its subsidiaries. Intercompany transactions and balances have been eliminated. In the opinion of management, the interim financial information includes all normal recurring adjustments necessary for a fair statement of the results for the interim periods.
Risks and Uncertainties	Risks and Uncertainties The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, protection of proprietary technology, dependence on key personnel, compliance with government regulations and the need to obtain additional financing to fund operations. Product candidates currently under development will require significant additional research and development efforts, including extensive preclinical studies, clinical trials and regulatory approval prior to commercialization. These efforts require significant amounts of additional resources, adequate personnel, infrastructure and extensive compliance and reporting. There can be no assurance that the Company’s research and development will be successfully completed, that adequate protection for the Company’s intellectual property will be obtained or maintained, that any products developed will obtain necessary government regulatory approval or that any approved products will be commercially viable. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will generate any revenue from any of its products. The Company operates in an environment of rapid change in technology and substantial competition from other pharmaceutical and biotechnology companies. The Company relies and expects to continue to rely on a small number of vendors to manufacture supplies and materials for its use in the clinical trial programs. These programs could be adversely affected by a significant interruption in these manufacturing services.
Use of Estimates	Use of Estimates Preparing financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures certain assets and liabilities in accordance with authoritative guidance which requires fair value measurements to be classified and disclosed in one of the following three categories: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. The Company reviews the fair value hierarchy classification on a quarterly basis. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain assets or liabilities within the fair value hierarchy. The Company did not have any transfers of assets and liabilities between the levels of the fair value measurement hierarchy during the years presented. The carrying amounts of financial instruments such as cash and cash equivalents, research and development tax credit receivable, other receivable, prepaid expenses, and accounts payable and accrued liabilities approximate the related fair values due to the short-term maturities of these instruments.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term, highly liquid investments with an original maturity at the date of purchase of three months or less to be cash equivalents. The Company maintains cash balances that may be uninsured or in deposit accounts that exceed Federal Deposit Insurance Corporation limits. The Company maintains its cash deposits with major financial institutions.
Accounts Receivable and Notes Receivable	Accounts Receivable and Notes Receivable Accounts receivable are presented net of allowances for credit losses.
Research and Development Tax Incentive Receivable	Research and Development Tax Incentive Receivable The Company, through its wholly owned subsidiary in Australia (“AUS”), participates in the Australian research and development tax incentive program, such that a percentage of our qualifying research and development expenditures are reimbursed by the Australian government, and such incentives are reflected as a reduction of research and development expense. The Australian research and development tax incentive is recognized when there is reasonable assurance that the incentive will be received, the relevant expenditure has been incurred and the amount of the consideration can be reliably measured. At each period end, management estimates the reimbursement available to the Company based on available information at the time. The Company, through its wholly owned subsidiary in the United Kingdom (“UK”), participates in the research and development program provided by the United Kingdom tax relief program, such that a percentage of our qualifying research and development expenditures are reimbursed by the United Kingdom government, and such incentives are reflected as a reduction of research and development expense. The United Kingdom research and development tax incentive is recognized when there is reasonable assurance that the incentive will be received, the relevant expenditure has been incurred and the amount of the consideration can be reliably measured. At each period end, management estimates the reimbursement available to the Company based on available information at the time.
Intangible Assets	Intangible Assets The Company capitalizes costs incurred in connection with in-process research and development purchased from others if the asset has alternative uses and such uses are not restricted under applicable license agreements; patent applications (principally legal fees), patent purchases, and trademarks related to its cell line as intangible assets. Acquired in-process research and development costs that do not have alternative uses are expensed as incurred. When the assets are determined to have a finite life (upon completion of the development of the in-process research and development for its DN-TNF platform), the useful life will be determined and the in-process research and development intangible assets will be amortized. During the fourth quarter and if business factors indicate more frequently, the Company performs an assessment of the qualitative factors affecting the fair value of our in-process research and development. If the qualitative assessment suggests that impairment is more likely than not, a quantitative analysis is performed. The quantitative analysis involves a comparison of the fair value of the in-process research and development with the carrying amount. If the carrying amount of the in-process research and development exceeds its fair value, an impairment loss is recognized in an amount equal to that excess.
Basic and Diluted Loss per Share	Basic and Diluted Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position. At September 30, 2024 and 2023, the Company had potentially issuable shares as follows: September 30, 2024 2023 Stock options 6,296,807 5,501,000 Warrants 3,944,238 74,074 Total 10,241,045 5,575,074
Revenue Recognition	Revenue Recognition The Company recognizes revenue when the customer obtains control of promised goods or services, in an amount that reflects the consideration the Company expects to receive in exchange for those goods or services. The Company recognizes revenue following the five-step model prescribed under ASC Topic 606: (1) identify contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenues when (or as) the Company satisfies the performance obligations. The Company records the expenses related to revenue in research and development expense, in the periods such expenses were incurred. The Company records deferred revenues when cash payments are received or due in advance of performance, including amounts which are refundable.
Stock-Based Compensation	Stock-Based Compensation The Company utilizes the Black-Scholes option pricing model to estimate the fair value of stock option awards at the date of grant, which requires the input of highly subjective assumptions, including expected volatility and expected life. Changes in these inputs and assumptions can materially affect the measure of estimated fair value of our share-based compensation. These assumptions are subjective and generally require significant analysis and judgment to develop. When estimating fair value, some of the assumptions will be based on, or determined from, external data and other assumptions may be derived from our historical experience with stock-based payment arrangements. The appropriate weight to place on historical experience is a matter of judgment, based on relevant facts and circumstances. The Company accounts for forfeitures of stock options as they occur.
Research and Development	Research and Development Research and development (“R&D”) costs are expensed as incurred. Research and development credits are recorded by the Company as a reduction of research and development costs. Major components of research and development costs include cash compensation, stock-based compensation, costs of preclinical studies, clinical trials and related clinical manufacturing, costs of drug development, costs of materials and supplies, facilities cost, overhead costs, regulatory and compliance costs, and fees paid to consultants and other entities that conduct certain research and development activities on the Company’s behalf. The Company recognizes grants as contra research and development expense in the consolidated statement of operations on a systematic basis over the periods in which the entity recognizes as expenses the related costs for which the grants are intended to compensate.
Income Taxes	Income Taxes The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
Foreign Currency Translation	Foreign Currency Translation The Company’s financial statements are presented in the U.S. dollar (“$”), which is the Company’s reporting currency, while its functional currencies are the U.S. Dollar for its U.S. based operations, British Pound (“GBP”) for its United Kingdom-based operations and Australian Dollars (“AUD”) for its Australian-based operations. All assets and liabilities are translated at the exchange rate on the balance sheet date, stockholders’ equity is translated at historical rates and statement of operations items are translated at the weighted average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income. Gains and losses resulting from the translations of foreign currency transactions and balances are reflected in the statement of operations and comprehensive income (loss).
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2023, the Financial Accounting Standards Board “FASB”, issued Accounting Standards Update “ASU”, No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). The guidance in ASU 2023-09 improves the transparency of income tax disclosures by greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The standard is effective for public companies for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact that the adoption of ASU 2023-09 may have on its consolidated financial statements and related disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280). The amendments in this update expand segment disclosure requirements, including new segment disclosure requirements for entities with a single reportable segment among other disclosure requirements. This update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements.
Subsequent Events	Subsequent Events The Company evaluates events that have occurred after the balance sheet date of September 30, 2024, through the date which the financial statements are issued.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Schedule of Potentially Issuable Shares	At September 30, 2024 and 2023, the Company had potentially issuable shares as follows: September 30, 2024 2023 Stock options 6,296,807 5,501,000 Warrants 3,944,238 74,074 Total 10,241,045 5,575,074

Research and Development Acti_2

Research and Development Activity (Tables)	9 Months Ended
	Sep. 30, 2024
Research and Development Activity [Abstract]
Schedule of Milestone Payments in Consideration for the Patent Rights	In consideration for the patent rights, the Company agreed to the following milestone payments: (in thousands) Each Phase I initiation $ 25 Each Phase II initiation $ 250 Each Phase III initiation $ 350 Each NDA/EMA filing $ 1,000 Each NDA/EMA awarded $ 9,000
Schedule of Licensee is Required to make Milestone Payments	Moreover, under the PITT Agreement the Licensee is required to make milestone payments as follows: (in thousands) Each Phase I initiation $ 50 Each Phase III initiation $ 500 First commercial sale of product making use of licensed technology $ 1,250

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Measurements [Abstract]
Schedule of Hierarchy for Assets and Liabilities Measured at Fair Value	The following table presents the hierarchy for assets and liabilities measured at fair value on a recurring basis: (in thousands) Total Quoted Significant Significant September 30, 2024: Cash equivalents Treasury bills $ 10,146 $ 10,146 $ - $ - Money market funds 22,218 22,218 - - Total cash equivalents $ 32,364 $ 32,364 $ - $ - (in thousands) Total Quoted Significant Significant December 31, 2023: Cash equivalents Money market fund $ 35,162 $ 35,162 $ - $ - Total cash equivalents $ 35,162 $ 35,162 $ - $ -

Lease (Tables)

Lease (Tables)	9 Months Ended
	Sep. 30, 2024
Lease [Abstract]
Schedule of Right-of-Use Assets and Liabilities	Below is a summary of the Company’s right-of-use assets and liabilities: (in thousands, except years and rate) September 30, December 31, Right-of-use asset $ 335 $ 414 Operating lease, current liability $ 135 $ 119 Long-term operating lease liability $ 284 $ 397 Total lease liability $ 419 $ 516 Weighted-average remaining lease term 2.5 years 3.3 years Weighted-average discount rate 12.0 % 12.0 %

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt [Abstract]
Schedule of Term Loan and Debt Discount	The term loan and debt discount are as follows as of September 30, 2024: (in thousands) Term Loan $ 2,500 Less: debt discount and financing costs, net (6 ) Current portion of debt $ 2,494

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Stockholders’ Equity [Abstract]
Schedule of Stock Option Activity	The following table summarizes stock option activity during the nine months ended September 30, 2024: (in thousands, except share and per share amounts) Number of Weighted- Weighted- Aggregate Outstanding at January 1, 2024 5,496,000 $ 8.73 6.18 $ 21,509 Options granted 832,307 $ 9.79 10.00 - Options exercised - $ - - - Options cancelled (31,500 ) $ 7.35 - - Outstanding at September 30, 2024 6,296,807 $ 8.87 5.90 $ 2,531 Exercisable at September 30, 2024 5,032,843 $ 8.62 5.19 $ 2,531
Schedule of Stock-Based Compensation Expense	The following summarizes the components of stock-based compensation expense in the consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023, respectively: (in thousands) Three Months Three Months Nine Months Nine Months Research and development $ 677 $ 705 $ 2,375 $ 2,043 General and administrative 1,042 1,184 3,473 3,446 Total $ 1,719 $ 1,889 $ 5,848 $ 5,489

Commitments (Tables)

Commitments (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments [Abstract]
Schedule of Future Minimum Payments to Leases	Future minimum payments pursuant to the leases are as follows: (in thousands, except years) 2024 $ 47 2025 192 2026 198 2027 51 Total lease payments 488 Less: imputed interest (69 ) Present value of future lease payments 419 Less: operating lease, current liability (135 ) Long-term operating lease liability $ 284

Going Concern (Details)

Going Concern (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Going Concern [Abstract]
Net loss	$ (12,093)	$ (9,746)	$ (11,025)	$ (8,563)	$ (6,501)	$ (6,536)	$ (32,864)	$ (21,600)
Net cash used in operating activities							$ (22,348)	$ (8,579)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	Sep. 30, 2024 USD ($)
Summary of Significant Accounting Policies [Abstract]
Receivable	$ 545,000
Vendor payable	2 years
Interest payable at prime	2%
Interest payable rate	10%
Valuation allowance	$ 545,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Potentially Issuable Shares - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Schedule of Potentially Issuable Shares [Line Items]
Total dilutive loss per share	10,241,045	5,575,074
Stock options [Member]
Schedule of Potentially Issuable Shares [Line Items]
Total dilutive loss per share	6,296,807	5,501,000
Warrants [Member]
Schedule of Potentially Issuable Shares [Line Items]
Total dilutive loss per share	3,944,238	74,074

Research and Development Acti_3

Research and Development Activity (Details) - USD ($)		9 Months Ended		12 Months Ended
	Jun. 26, 2025	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Research and Development Activity [Line Items]
Research and development tax credit receivable		$ 1,109,000		$ 1,905,000
Net sales percentage		5%
Percentage of licensor royalty patent grant		1%
Percentage of net sales to pay royalties		2.50%
Agreement expiry period, description		The PITT Agreement expires upon the earlier of: (i) expiration of the last claim of the Patent Rights (as defined in the PITT Agreement) forming the subject matter of the PITT Agreement; or (ii) the date that is 20 years from the effective date of the agreement (June 26, 2037).
Immune Ventures [Member]
Research and Development Activity [Line Items]
Milestone payments		$ 25,000		$ 25,000
Australia [Member]
Research and Development Activity [Line Items]
Research and development tax credit receivable		$ 2,475,000	$ 3,763,000
Forecast [Member]
Research and Development Activity [Line Items]
Maintenance fees	$ 25,000

Research and Development Acti_4

Research and Development Activity (Details) - Schedule of Milestone Payments in Consideration for the Patent Rights $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Each Phase I initiation [Member]
Schedule of Milestone Payments in Consideration for the Patent Rights [Line Items]
Payment method of milestone payments	$ 25
Each Phase II initiation [Member]
Schedule of Milestone Payments in Consideration for the Patent Rights [Line Items]
Payment method of milestone payments	250
Each Phase III initiation [Member]
Schedule of Milestone Payments in Consideration for the Patent Rights [Line Items]
Payment method of milestone payments	350
Each NDA/EMA filing [Member]
Schedule of Milestone Payments in Consideration for the Patent Rights [Line Items]
Payment method of milestone payments	1,000
Each NDA/EMA awarded [Member]
Schedule of Milestone Payments in Consideration for the Patent Rights [Line Items]
Payment method of milestone payments	$ 9,000

Research and Development Acti_5

Research and Development Activity (Details) - Schedule of Licensee is Required to make Milestone Payments $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Each Phase I initiation [Member]
Schedule of Licensee is Required to make Milestone Payments [Line Items]
Payment method of milestone payments	$ 50
Each Phase III initiation [Member]
Schedule of Licensee is Required to make Milestone Payments [Line Items]
Payment method of milestone payments	500
First commercial sale of product making use of licensed technology [Member]
Schedule of Licensee is Required to make Milestone Payments [Line Items]
Payment method of milestone payments	$ 1,250

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule of Hierarchy for Assets and Liabilities Measured at Fair Value - Recurring basis [Member] - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Cash equivalents
Total cash equivalents	$ 32,364	$ 35,162
Quoted Price in Active Market (Level 1) [Member]
Cash equivalents
Total cash equivalents	32,364	35,162
Significant Other Observable Inputs (Level 2) [Member]
Cash equivalents
Total cash equivalents
Significant Unobservable Inputs (Level 3) [Member]
Cash equivalents
Total cash equivalents
Treasury bills [Member]
Cash equivalents
Total cash equivalents	10,146
Treasury bills [Member] | Quoted Price in Active Market (Level 1) [Member]
Cash equivalents
Total cash equivalents	10,146
Treasury bills [Member] | Significant Other Observable Inputs (Level 2) [Member]
Cash equivalents
Total cash equivalents
Treasury bills [Member] | Significant Unobservable Inputs (Level 3) [Member]
Cash equivalents
Total cash equivalents
Money Market Funds [Member]
Cash equivalents
Total cash equivalents	22,218	35,162
Money Market Funds [Member] | Quoted Price in Active Market (Level 1) [Member]
Cash equivalents
Total cash equivalents	22,218	35,162
Money Market Funds [Member] | Significant Other Observable Inputs (Level 2) [Member]
Cash equivalents
Total cash equivalents
Money Market Funds [Member] | Significant Unobservable Inputs (Level 3) [Member]
Cash equivalents
Total cash equivalents

Lease (Details) - Schedule of R

Lease (Details) - Schedule of Right-of-Use Assets and Liabilities - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2021
Schedule of Right-of-Use Assets and Liabilities [Abstract]
Right-of-use asset	$ 335	$ 414
Operating lease, current liability	135	119	$ 135
Long-term operating lease liability	284	397	284
Total lease liability	$ 419	$ 516	$ 419
Weighted-average remaining lease term	2 years 6 months	3 years 3 months 18 days
Weighted-average discount rate	12%	12%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
UCL [Member]
Related Party Transactions [Line Items]
Prepaid expenses	$ 15,000		$ 112,000
Payment for medical research	252,000	$ 334,000
AmplifyBio [Member]
Related Party Transactions [Line Items]
Payment for medical research	30,000		$ 10,000
Services performed expenses	$ 324,000	$ 7,000

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 10, 2021
Debt [Line Items]
Term loan					$ 15,000,000
Interest expense	$ 145,000	$ 568,000	$ 752,000	$ 1,811,000
Percentage of premium			1%
The Wall Street Journal Plus [Member]
Debt [Line Items]
Interest rate			12.50%
Redemption percentage			6.50%
Minimum [Member] | The Wall Street Journal Plus [Member]
Debt [Line Items]
Prime interest rate			4.50%
Maximum [Member] | The Wall Street Journal Plus [Member]
Debt [Line Items]
Prime interest rate			7.75%

Debt (Details) - Schedule of Te

Debt (Details) - Schedule of Term Loan and Debt Discount - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Term Loan and Debt Discount [Abstract]
Term Loan	$ 2,500
Less: debt discount and financing costs, net	(6)
Current portion of debt	$ 2,494	$ 9,921

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($)							3 Months Ended			9 Months Ended
	Sep. 30, 2024	Aug. 31, 2024	Apr. 30, 2024	Aug. 31, 2023	Jul. 31, 2023	Dec. 30, 2020	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Mar. 31, 2021
Stockholders Equity [Line Items]
Exchange for gross proceeds			$ 4,800,000
Net proceeds			$ 4,500,000
Per share price of the warrants (in Dollars per share)			$ 9.152
Fair value of warrants	$ 9,100,000		$ 3,000,000
Discount rate	3.41%		4.97%
Expected life	5 years 6 months		2 years
Expected volatility	92%		77%
Expected dividends	$ 0		$ 0
Common stock, amount	$ 74,700,000						$ 74,700,000			$ 74,700,000			$ 45,000,000
Percentage of commission				3%
Shares issued (in Shares)	22,172,451						22,172,451			22,172,451		17,950,776
Average price per share (in Dollars per share)	$ 0.001						$ 0.001			$ 0.001		$ 0.001
Aggregate offering price amount		$ 75,000,000
Percentage of gross proceeds		3%
Number of common stock sold (in Shares)					75,697
Sale of stock price per share (in Dollars per share)					$ 10.56
Aggregate net proceeds					$ 775,000					$ 300,000
Temporary equity share (in Shares)												75,697
Temporary equity aggregate purchase price												$ 799,000
Recognized stock-based compensation expense							$ 1,719,000		$ 1,889,000	5,848,000	$ 5,489,000
Unrecognized compensation cost related to non-vested stock options	$ 9,100,000						$ 9,100,000			$ 9,100,000
Weighted-average period										2 years 3 months 29 days
Warrants outstanding (in Shares)	45,386						45,386			45,386
Intrinsic value	$ 2,531,000						$ 2,531,000			$ 2,531,000		$ 21,509,000
Weighted average price (in Dollars per share)	$ 8.62						$ 8.62			$ 8.62
Intrinsic value of warrants	$ 2,531,000						$ 2,531,000			$ 2,531,000
Preferred stock par value per share (in Dollars per share)	$ 0.001						$ 0.001			$ 0.001		$ 0.001
Other Investors [Member]
Stockholders Equity [Line Items]
Per share price of the warrants (in Dollars per share)			$ 8.32
Warrant [Member]
Stockholders Equity [Line Items]
Offering price per share and warrant (in Dollars per share)	6.5						6.5			6.5
Investors paid per share and warrant (in Dollars per share)	$ 5.5						$ 5.5			$ 5.5
Per share price of the warrants (in Dollars per share)			$ 8.445
Warrants term	10 years						10 years			10 years
Exercise price of per share (in Dollars per share)										$ 14.05
Warrants outstanding (in Shares)	2,341,260						2,341,260			2,341,260
Intrinsic value	$ 0						$ 0			$ 0
Issued warrants (in Shares)	2,341,260		1,557,592				2,341,260			2,341,260
Weighted average price (in Dollars per share)	$ 6.4						$ 6.4			$ 6.4
Intrinsic value of warrants	$ 0						$ 0			$ 0
Common Stock [Member]
Stockholders Equity [Line Items]
Sold shares of common stock (in Shares)			571,592					198,364	75,697
Additional shares purchased (in Shares)			571,592				2,390,022	1,557,592
Exchange for gross proceeds										$ 2,000,000
Shares issued (in Shares)	198,364						198,364			198,364
Average price per share (in Dollars per share)	$ 10.56						$ 10.56			$ 10.56
Number of common stock sold (in Shares)										48,762
Sale of stock price per share (in Dollars per share)	$ 6.96						$ 6.96			$ 6.96
Common Stock [Member] | Warrant [Member]
Stockholders Equity [Line Items]
Warrants outstanding (in Shares)	1,557,592						1,557,592			1,557,592
Weighted average price (in Dollars per share)	$ 9.59						$ 9.59			$ 9.59
Intrinsic value of warrants	$ 0						$ 0			$ 0
Securities Purchase Agreement [Member]
Stockholders Equity [Line Items]
Exchange for gross proceeds	13,000,000		$ 9,700,000
Net proceeds	$ 12,000,000		$ 8,900,000
Per share price of the warrants (in Dollars per share)	$ 6.4		$ 9.84				$ 6.4			$ 6.4
Fair value of warrants			$ 5,800,000
Discount rate			4.89%
Expected life			2 years
Expected volatility			78%
Expected dividends			$ 0
Securities Purchase Agreement [Member] | Common Stock [Member]
Stockholders Equity [Line Items]
Sold shares of common stock (in Shares)	2,341,260		986,000
Additional shares purchased (in Shares)	2,341,260		986,000
Equity Option [Member]
Stockholders Equity [Line Items]
Additional shares purchased (in Shares)										832,307
Expected dividends										$ 0
Fair value of stock options	$ 6,800,000						$ 6,800,000			$ 6,800,000
Equity Option [Member] | Minimum [Member]
Stockholders Equity [Line Items]
Discount rate										3.90%
Expected life										5 years
Expected volatility										101%
Equity Option [Member] | Maximum [Member]
Stockholders Equity [Line Items]
Discount rate										4.48%
Expected life										10 years
Expected volatility										106%
Series A Preferred Stock [Member]
Stockholders Equity [Line Items]
Preferred stock par value per share (in Dollars per share)						$ 0.001
Exercise price (in Dollars per share)						$ 300

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - Schedule of Stock Option Activity - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Schedule of Stock Option Activity [Abstract]
Number of shares, Outstanding Balance (in Shares)	6,296,807	5,496,000
Weighted- average Exercise Price, Outstanding Balance	$ 8.87	$ 8.73
Weighted- average Remaining Contractual Term (years), Outstanding Balance	5 years 10 months 24 days	6 years 2 months 4 days
Aggregate Intrinsic Value, Outstanding Balance (in Dollars)	$ 2,531	$ 21,509
Number of shares, Exercisable, (in Shares)	5,032,843
Weighted- average Exercise Price, Exercisable	$ 8.62
Weighted- average Remaining Contractual Term (years), Exercisable	5 years 2 months 8 days
Aggregate Intrinsic Value, Exercisable (in Dollars)	$ 2,531
Number of shares, Options granted (in Shares)	832,307
Weighted- average Exercise Price, Options granted	$ 9.79
Weighted- average Remaining Contractual Term (years), Options granted	10 years
Aggregate Intrinsic Value, Options granted
Number of shares, Options exercised (in Shares)
Weighted- average Exercise Price, Options exercised
Aggregate Intrinsic Value, Options exercised (in Dollars)
Number of shares, Options cancelled (in Shares)	(31,500)
Weighted- average Exercise Price, Options cancelled	$ 7.35
Aggregate Intrinsic Value, Options cancelled (in Dollars)

Stockholders_ Equity (Details_2

Stockholders’ Equity (Details) - Schedule of Stock-Based Compensation Expense - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Stock-Based Compensation Expense [Line Items]
Stock-based compensation expense	$ 1,719	$ 1,889	$ 5,848	$ 5,489
Research and development [Member]
Schedule of Stock-Based Compensation Expense [Line Items]
Stock-based compensation expense	677	705	2,375	2,043
General and administrative [Member]
Schedule of Stock-Based Compensation Expense [Line Items]
Stock-based compensation expense	$ 1,042	$ 1,184	$ 3,473	$ 3,446

Collaborative Agreements (Detai

Collaborative Agreements (Details) $ in Millions	Sep. 30, 2020 USD ($)
Collaborative Agreements [Abstract]
Grants receivable amount	$ 2.9

Commitments (Details)

Commitments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2021
Commitments [Line Items]
Operating lease expense	$ 40,000	$ 41,000	$ 120,000	$ 123,000
Outstanding invoice amount	1,200,000		1,200,000
Recorded purchase obligation	200,000		200,000
Incurred obligation remaining amount	$ 1,000,000		$ 1,000,000
Third Party [Member] | Florida [Member]
Commitments [Line Items]
Lease agreement term					64 months

Commitments (Details) - Schedul

Commitments (Details) - Schedule of Future Minimum Payments to Leases - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2021
Schedule of Future Minimum Payments to Leases [Abstract]
2024			$ 47
2025			192
2026			198
2027			51
Total lease payments			488
Less: imputed interest			(69)
Total lease liability	$ 419	$ 516	419
Less: operating lease, current liability	(135)	(119)	(135)
Long-term operating lease liability	$ 284	$ 397	$ 284