Hoth Therapeutics (HOTH) 10-Q 14 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 13, 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	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Information [Line Items]
Entity Registrant Name	Hoth Therapeutics, Inc.
Entity Central Index Key	0001711786
Entity File Number	001-38803
Entity Tax Identification Number	82-1553794
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 Incorporation, Date of Incorporation	May 16, 2017
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	590 Madison Ave
Entity Address, Address Line Two	21st Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
Entity Phone Fax Numbers [Line Items]
City Area Code	(646)
Local Phone Number	756-2997
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	HOTH
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		4,888,804

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 7,562,628	$ 9,292,352
Prepaid expenses and other current assets	293,160	135,361
Deferred offering cost	550,500
Total Current Assets	8,406,288	9,427,713
NON-CURRENT ASSETS:
Operating lease right-of-use asset, net	48,222	55,165
Investment in joint ventures at fair value	36,819	37,400
Total Non-current Assets	85,041	92,565
Total Assets	8,491,329	9,520,278
CURRENT LIABILITIES:
Accounts payable	360,905	35,592
Accrued expenses	249,608	614,226
Operating lease liability, current portion	29,321	28,839
Total Current Liabilities	639,834	678,657
LONG-TERM LIABILITIES:
Operating lease liability, less current portion	18,901	26,326
Total Long-Term Liabilities	18,901	26,326
Total Liabilities	658,735	704,983
Commitments and Contingencies (Note 6)
STOCKHOLDERS’ EQUITY:
Preferred stock, value
Common stock, $0.0001 par value; 50,000,000 shares authorized; 4,403,804 and 4,348,129 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	440	435
Additional paid-in capital	62,795,951	61,732,106
Accumulated deficit	(54,985,289)	(52,944,506)
Accumulated other comprehensive income	21,492	27,260
Total Stockholders’ Equity	7,832,594	8,815,295
Total Liabilities and Stockholders’ Equity	8,491,329	9,520,278
Series A Convertible Preferred Stock
STOCKHOLDERS’ EQUITY:
Preferred stock, value
Series B Preferred Stock
STOCKHOLDERS’ EQUITY:
Preferred stock, value

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Preferred stock, shares undesignated	3,000,000	3,000,000
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	4,403,804	4,348,129
Common stock, shares outstanding	4,403,804	4,348,129
Series A Convertible Preferred Stock
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Preferred stock, shares designated (in Dollars per share)	$ 5,000,000	$ 5,000,000
Series B Preferred Stock
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Preferred stock, shares designated (in Dollars per share)	$ 2,000,000	$ 2,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING COSTS AND EXPENSES:
Research and development expense	$ 465,896	$ 938,878
General and administrative expenses	1,588,262	1,253,939
Total operating expenses	2,054,158	2,192,817
LOSS FROM OPERATIONS	(2,054,158)	(2,192,817)
OTHER INCOME (EXPENSES), NET:
Unrealized loss on marketable securities		(18,803)
Change in fair value of investment in joint ventures	(581)
Dividend income	13,956	28,113
Total other income (expenses), net	13,375	9,310
NET LOSS	$ (2,040,783)	$ (2,183,507)
NET LOSS PER COMMON SHARE:
Net loss per share Basic (in Dollars per share)	$ (0.46)	$ (0.88)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Weighted average number of common shares outstanding, basic (in Shares)	4,398,909	2,482,824
COMPREHENSIVE LOSS:
Net loss	$ (2,040,783)	$ (2,183,507)
Foreign currency translation adjustment	(5,768)	5,370
Total comprehensive loss	$ (2,046,551)	$ (2,178,137)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net loss per share diluted	$ (0.46)	$ (0.88)
Weighted average number of common shares outstanding, diluted	4,398,909	2,482,824

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2022	$ 130	$ 50,198,630	$ (45,099,116)	$ 22,006	$ 5,121,650
Balance (in Shares) at Dec. 31, 2022	1,302,113
Exercise of pre-funded warrants	$ 186	1,674			1,860
Exercise of pre-funded warrants (in Shares)	1,860,000
Stock-based compensation		10,630			10,630
Common stock and warrants issued in private placement, net of offering costs	$ 14	8,909,516			8,909,530
Common stock and warrants issued in private placement, net of offering costs (in Shares)	140,000
Cumulative translation adjustment				5,370	5,370
Net loss			(2,183,507)		(2,183,507)
Balance at Mar. 31, 2023	$ 330	59,120,450	(47,282,623)	27,376	11,865,533
Balance (in Shares) at Mar. 31, 2023	3,302,113
Balance at Dec. 31, 2023	$ 435	61,732,106	(52,944,506)	27,260	8,815,295
Balance (in Shares) at Dec. 31, 2023	4,348,129
Exercise of pre-funded warrants	$ 5	(5)
Exercise of pre-funded warrants (in Shares)	55,675
Stock-based compensation		513,350			513,350
Deferred offering cost related to warrant inducement		550,500			550,500
Cumulative translation adjustment				(5,768)	(5,768)
Net loss			(2,040,783)		(2,040,783)
Balance at Mar. 31, 2024	$ 440	$ 62,795,951	$ (54,985,289)	$ 21,492	$ 7,832,594
Balance (in Shares) at Mar. 31, 2024	4,403,804

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,040,783)	$ (2,183,507)
Adjustments to reconcile net loss to net cash used in operating activities:
Research and development-acquired license, expensed		8,125
Stock-based compensation	513,350	10,630
Unrealized loss on marketable securities		18,803
Change in fair value of investment in joint ventures	581
Changes in operating assets and liabilities:
Prepaid expenses	(157,799)	(96,244)
Accounts payable and accrued expenses	(39,305)	(47,225)
NET CASH USED IN OPERATING ACTIVITIES	(1,723,956)	(2,289,418)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance common stock, common stock warrants and prefunded warrants, net of offering costs		8,909,530
Proceeds from exercise of warrants		1,860
NET CASH PROVIDED BY FINANCING ACTIVITIES		8,911,390
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(1,723,956)	6,621,972
Effect of exchange rate changes on cash and cash equivalents	(5,768)	(6,201)
CASH AND CASH EQUIVALENTS - beginning of period	9,292,352	6,428,611
CASH AND CASH EQUIVALENTS - end of period	7,562,628	13,044,382
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Increase in deferred offering cost and additional paid-in capital	$ 550,500

Organization and Description of

Organization and Description of Business Operations	3 Months Ended
	Mar. 31, 2024
Organization and Description of Business Operations [Abstract]
Organization and Description of Business Operations	NOTE 1 – Organization and Description of Business Operations Hoth Therapeutics, Inc. (together with its wholly-owned subsidiaries, merveille.ai and Hoth Therapeutics Australia Pty Ltd, the “Company”) was incorporated under the laws of the State of Nevada on May 16, 2017. The Company is a clinical-stage biopharmaceutical company focused on developing new generation therapies for unmet medical needs. The Company is focused on developing (i) a topical formulation for treating side effects from drugs used for the treatment of cancer (HT-001); (ii) a treatment for mast-cell derived cancers and anaphylaxis (HT-KIT); (iii) a treatment for traumatic brain injury and ischemic stroke (HT-TBI); and (iv) a treatment and/or prevention for Alzheimer’s or other neuroinflammatory diseases (HT-ALZ). The Company also has assets being developed for (i) atopic dermatitis (also known as eczema) (BioLexa); (ii) a treatment for asthma and allergies using inhalational administration (HT-004); and (iii) a treatment for acne as well as inflammatory bowel diseases (HT-003). The Company also has interests in certain other assets being developed by third parties (see Note 4 to the condensed consolidated financial statements for a discussion of the Company’s agreement with Zylö Therapeutics, Inc.). Liquidity and capital resources Accounting Standards Update (“ASU”) No. 2014-15, Presentation of Financial Statements - Going Concern The Company has incurred losses and generated negative cash flows from operations since its inception. At March 31, 2024, the Company had an accumulated deficit of $55.0 million and cash and cash equivalents of $7.6 million. The Company has funded its operations from proceeds from the sale of equity and debt securities. The Company will require significant additional capital to make the investments it needs to execute its longer-term business plan. The Company’s ability to successfully raise sufficient funds through the sale of debt or equity securities when needed is subject to many risks and uncertainties and, even if it were successful, future equity issuances may result in dilution to its existing shareholders and future debt securities may contain covenants that limit the Company’s operations or ability to enter into certain transactions. The Company believes its current cash is sufficient to fund operations for at least the next 12 months from the issuance date of these financial statements. However, the Company will need to raise additional funding, through strategic relationships, public or private equity or debt financings, grants or other arrangements, to develop and seek regulatory approvals for the Company’s current and future product candidates. If such funding is not available, or not available on terms acceptable to the Company, the Company’s current development plan and plans for expansion of its general and administrative infrastructure may be curtailed. On April 1, 2024, in connection with the March 27, 2024 inducement offer agreement with a holder (the “Holder”) of certain of the Company’s existing warrants (the “January 2023 Existing Warrants”) to exercise for cash an aggregate of 2,500,000 of the January 2023 Existing Warrants to purchase shares of the Company’s common stock at a reduced exercise price of $1.6775 per share, the Holder exercised the 2,500,000 January 2023 Existing Warrants and was to be issued up to 2,500,000 shares of the Company’s common stock (the “Warrant Shares”) for gross proceeds to the Company of approximately $4.2 million before

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 – Summary of Significant Accounting Policies Basis of presentation and principles of consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. These unaudited interim condensed consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission (the “SEC”) on March 28, 2024. The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company’s wholly-owned subsidiaries, merveille.ai, which was incorporated under the laws of Nevada on October 4, 2023, and Hoth Therapeutics Australia Pty Ltd, which was incorporated under the laws of the State of Victoria in Australia on June 5, 2019. All significant intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain line items on the condensed consolidated statement of operations and comprehensive loss for the three months ended March 31, 2023 have been reclassified to conform to the current period presentation. Research and development - licenses acquired (including stock-based compensation) of $48,033 was reclassified to research and development. Compensation and related expenses (including stock-based compensation) of $295,564, professional fees (including stock-based compensation) of $616,375, rent of $15,120, and other general and administrative expense of $326,880 were consolidated into one general and administrative line item. These reclassifications did not change our reported net loss or comprehensive loss for the three months ended March 31, 2023. Emerging growth company As an emerging growth company, the Company may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, as amended, reduced disclosure obligations regarding executive compensation in its periodic reports, proxy statements and registration statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 107 of the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”) provides that an “emerging growth company” can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended (“Securities Act”), for complying with new or revised accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. The Company will remain an “emerging growth company” until the earliest of (i) the last day of the fiscal year in which it has total annual gross revenues of $1.235 billion or more; (ii) the last day of its fiscal year following the fifth anniversary of the date of its initial public offering, which would be December 31, 2024; (iii) the date on which it has issued more than $1 billion in nonconvertible debt during the previous three years; or (iv) the date on which it is deemed to be a large accelerated filer under the rules of the SEC. After the Company is no longer deemed to be an emerging growth company, it will no longer have the ability to delay the adoption of new or revised accounting standards, or to take advantage of reduced corporate governance disclosures. Use of estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting periods. The most significant estimates in the Company’s condensed consolidated financial statements relate to stock-based compensation, the valuation of modified warrants, and the valuation allowance of deferred tax assets resulting from net operating losses. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations may be affected. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 as filed with the SEC on March 28, 2024. Cash and cash equivalents The Company considers all highly liquid investments purchased with original maturities of 90 days or less at acquisition to be cash equivalents. Cash and cash equivalents consist of bank accounts and highly liquid money funds and totaled $7,562,628 and $9,292,352 as of March 31, 2024 and December 31, 2023, respectively. Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits at the three financial institutions the Company utilizes for its banking requirements. The Company’s foreign bank accounts are not subject to FDIC insurance. Cash held in foreign bank accounts totaled $0.1 million and $0.1 million as of March 31, 2024 and December 31, 2023, respectively. Concentrations of credit risk and off-balance sheet risk The Company has significant cash balances at financial institutions which, throughout the year, regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. Leases The Company determines if an arrangement is a lease at inception and classifies its leases at commencement. Operating leases are presented as right-of-use (“ROU”) assets and the corresponding lease liabilities are included in operating lease liability, current and lease liability, on the Company’s condensed consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset, and lease liabilities represent the Company’s obligation to make lease payments in exchange for the ability to use the asset for the duration of the lease term. The Company has lease agreements which contain both lease and non-lease components, which it has elected to account for as a single lease component. As such, minimum lease payments include fixed payments for non-lease components within a lease agreement but exclude variable lease payments not dependent on an index or rate, such as common area maintenance, operating expenses, utilities, or other costs that are subject to fluctuation from period to period. Certain of the leases contain an option to extend the term of the lease. The option to extend a lease is included in the lease term only when it is reasonably certain that the Company will elect that option. Additionally, the Company does not record ROU assets or lease liabilities for short-term leases that have a term of twelve months or less at lease commencement. ROU assets and lease liabilities are recognized at the commencement date and determined using the present value of the future minimum lease payments over the lease term. The Company uses an incremental borrowing rate based on an estimated rate of interest for collateralized borrowing since the Company’s leases do not include an implicit interest rate. The estimated incremental borrowing rate considers market data, actual lease economic environment, and the lease term at commencement date. Fair value of financial instruments Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements The fair value of the Company’s assets and liabilities, which would qualify as financial instruments under ASC Topic 820, approximates the carrying amounts represented in the Company’s condensed consolidated balance sheets, primarily due to their short-term nature. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace. Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. During the three months ended March 31, 2024 and 2023, there were no changes in valuation techniques or transfers between Level 1, Level 2, and Level 3. Investment in joint ventures Ownership interests in entities for which the Company has significant influence that are not consolidated are accounted for as equity method investments. SEC Staff Announcement: Accounting for Limited Partnership Investments (codified in ASC 323-30-S99-1) guidance requires the use of the equity method unless the investor’s interest “is so minor that the limited partner may have virtually no influence over partnership operating and financial policies.” The SEC staff’s position is that investments in limited partnerships of greater than 3% to 5% are considered more than minor and, therefore, should be accounted for using the equity method or fair value option. Investments accounted for using the equity method may be reported on a lag up to three months if financial statements of the investee are not available in sufficient time for the investor to apply the equity method as of the current reporting date. The determination of whether an investee’s results are recorded on a lag is made on an investment-by-investment basis. This investment in joint ventures is further described in Note 4 of these unaudited condensed consolidated financial statements. Research and development costs Research and development costs, including acquired in-process research and development expenses for which there is no alternative future use, are expensed as incurred. Advance payments for goods and services that will be used in future research and development activities are expensed when the activity has been performed or when the goods have been received rather than when the payment is made. Stock-based compensation The Company accounts for stock-based payment awards exchanged for services at the estimated grant date fair value of the award. Stock options issued under the Company’s long-term incentive plans are granted with an exercise price equal to no less than the market price of the Company’s stock at the date of grant and expire up to ten years from the date of grant. Options are generally issued fully vested. The Company accounts for forfeited awards as they occur. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. Expected Term Expected Volatility Risk-Free Interest Rate Expected Dividend The Company grants restricted stock awards under its equity incentive plan. Restricted stock awards are granted to employees and non-employees. The restricted stock awards are measured based on the grant-date fair value. In general, the restricted stock awards vest over a service period of zero to three years. Stock-based compensation expense is generally recognized based on the straight-line basis over the requisite service period and forfeitures are accounted for as they occur. The Company has issued warrants to non-employees. The warrants are measured based on the grant-date fair value. In general, the warrants vest over a term of zero to ten years. Stock-based compensation expense is generally recognized based on the straight-line basis over the vesting term. Income taxes Income taxes are recorded in accordance with ASC 740, Income Taxes The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. Net loss per share Net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Since the Company had a net loss in the periods presented, basic and diluted net loss per common share are the same. The following were excluded from the computation of diluted shares outstanding due to the losses for each period presented, as they would have had an anti-dilutive impact on the Company’s net loss: As of March 31, Potentially dilutive securities 2024 2023 Warrants 3,836,848 3,002,840 Options 617,362 104,651 Non-vested restricted stock awards 1,693 3,384 Total 4,455,903 3,110,875 Recent accounting pronouncements Currently, management does not believe that any other recently issued, but not yet effective accounting pronouncements, if currently adopted, would have a material impact on the Company’s condensed consolidated financial statements.

License Agreements

License Agreements	3 Months Ended
	Mar. 31, 2024
License Agreements [Abstract]
License Agreements	NOTE 3 - License Agreements The following summarizes the Company’s research and development expenses for licenses acquired during the three months ended March 31, 2024 and 2023: Three Months Ended 2024 2023 The George Washington University $ 1,250 $ 41,158 North Carolina State University 1,562 - Virginia Commonwealth University - 6,250 University of Cincinnati - 625 $ 2,812 $ 48,033 The George Washington University During the three months ended March 31, 2024 and 2023, the Company recorded an expense of $0 and $30,000, respectively, related to the initiation of a clinical trial. The Company also recorded an expense of $8,658 for the three months ended March 31, 2023 related to warrants granted to The George Washington University (“GW”) pursuant to the patent license agreement with GW dated February 1, 2020 (“GW Patent License Agreement”) and the patent license agreement with GW dated August 7, 2020 (“Second GW Patent License Agreement”). Further, during the three months ended March 31, 2024 and 2023, the Company recorded expenses of $1,250 and $2,500, respectively, for license fees. North Carolina State University During the three months ended March 31, 2024 and 2023, the Company recognized expenses of $1,562 and $0, respectively, for license fees associated with the license agreement by and between the Company and North Carolina State University dated February 25, 2021. Virginia Commonwealth University During the three months ended March 31, 2024 and 2023, the Company recognized expenses of $0 and $6,250, respectively, for license fees associated with the exclusive license agreement between the Company and Virginia Commonwealth University Intellectual Property Foundation dated as of May 18, 2020. Chelexa Biosciences, Inc. and the University of Cincinnati During the three months ended March 31, 2024 and 2023, the Company recognized expenses of $0 and $625, respectively, for license fees associated with the Assignment and Assumption Agreement by and between the Company and Chelexa Biosciences dated May 14, 2020.

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	3 Months Ended
	Mar. 31, 2024
Fair Value of Financial Assets and Liabilities [Abstract]
Fair Value of Financial Assets and Liabilities	NOTE 4 – Fair Value of Financial Assets and Liabilities The following table presents the Company’s assets and liabilities that are measured at fair value on March 31, 2024 and December 31, 2023: Fair value measured on March 31, 2024 Total at Quoted prices Significant Significant Assets Investment in joint ventures $ 36,819 $ — $ — $ 36,819 Fair value measured on December 31, 2023 Total at Quoted prices Significant Significant Assets Investment in joint ventures $ 37,400 $ — $ — $ 37,400 Level 3 Measurement The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial assets that are measured at fair value on a recurring basis as of March 31, 2024 and 2023: Investment in joint venture for the three months ended March 31, 2024 Investment in joint ventures at fair value at December 31, 2023 $ 37,400 Change in fair value of investments in joint ventures (581 ) Investment in joint ventures at fair value at March 31, 2024 $ 36,819 Investment in joint venture for the three months ended March 31, 2023 Investment in joint ventures at fair value at December 31, 2022 $ 33,000 Change in fair value of investments in joint ventures — Investment in joint ventures at fair value at March 31, 2023 $ 33,000 Investment in joint ventures The Company has elected to measure the investment in joint ventures using the fair value option at each reporting date. Under the fair value option, bifurcation of an embedded derivative is not necessary, and all related gains and losses on the host contract and derivative due to change in the fair value will be reflected in interest income and other, net in the condensed consolidated statements of operations and comprehensive loss. The value at which the Company’s investment in joint ventures is carried on its books is adjusted to estimated fair value at the end of each quarter, taking into account general economic and stock market conditions and those characteristics specific to the underlying investments. Investment in Zylö In connection with the Company’s March 2020 underwritten public offering of shares of its common stock, on May 4, 2020, the Company purchased 120,000 shares of Zylö’s Class B common stock for $60,000. On December 8, 2021, the Company entered into a third amendment (the “Zylö Amendment”) to the Exclusive Sublicense Agreement with Zylö originally dated August 19, 2019, pursuant to which the Company licensed its novel cannabinoid therapeutic, HT-005 for lupus patients, back to Zylö. Pursuant to the Zylö Amendment, on December 6, 2021, Zylö issued the Company 100,000 shares of its Class B common stock. In addition, pursuant to the Zylö Amendment, within 90 days following a sale by Zylö of all of its assets and rights related to HT-005 to a third-party (a “Sale”), Zylö shall pay the Company a low single digit percent of the net proceeds received by it attributable to HT-005 in the United States and Canada and their respective territories (collectively, the “Territory”) for the purposes of therapeutic uses related to lupus in humans (the “Field”). After the Sale, any and all rights of the Company pursuant to the Exclusive Sublicense Agreement, including all amendments thereto, shall terminate. Furthermore, pursuant to the Zylö Amendment, following the date of the first commercial sale of HT-005 in the Territory, in the Field, Zylö shall pay the Company (i) a low single digit percent of the Net Sales (as defined in the Exclusive Sublicense Agreement) of HT-005 in the event HT-005 is sold in the Territory and (ii) a low double digit percent of any royalty that Zylö receives through the sublicense to a third-party based on Net Sales of HT-005 in the Territory which payments shall continue in each country in the Territory until expiration of the last-to-expire Valid Claim (as defined in the Exclusive Sublicense Agreement). Zylö conducted a 409A valuation of their Class B common stock and as of March 31, 2024 and December 31, 2023, valued its share price at $0.167 and $0.17 per share, respectively. This value was ratified by Zylö’s board of directors in February 2024 and December 2023, respectively. As of February 23, 2024, the Company acquired 22,000 shares of Class B Common stock of Atticus Pharma, a subsidiary of Zylö Therapeutics, based upon a 1-for-10 ratio of current shares and were instructed on April 5, 2024 that the 409A valuation of the shares is $79, or $0.0036 per share, pursuant to the February 2024 valuation ratified by Zylö’s board of directors. The valuations reflect a probability-weighted present value of expected future investment returns considering certain possible outcomes and the rights of each class of Zylö’s equity. The future values of the common stock under the various outcomes are discounted back to the valuation date at a risk-adjusted discount rate and probability weighted to determine the value for the Class B common stock. Significant unobservable inputs in the valuation include: (i) probabilities of each scenario, (ii) timing of occurrence, (iii) future valuation; (iv) and the risk-adjusted discount rate. The consolidated investment in Zylö was valued at $36,819 and $37,400 as of March 31, 2024 and December 31, 2023, respectively.

Stockholders Equity

Stockholders Equity	3 Months Ended
	Mar. 31, 2024
Stockholders Equity [Abstract]
Stockholders Equity	NOTE 5 - Stockholders’ Equity Preferred Stock The Company is authorized to issue up to 10,000,000 shares of preferred stock. This preferred stock may be issued in one or more series, and shall have such designations, preferences and relative, participating, optional or other special rights and qualifications, limitations or restrictions thereof as shall be determined at the time of issuance by the Company’s board of directors without further action by the Company’s shareholders. As of March 31, 2024 and December 31, 2023, 5,000,000 shares of the Company’s preferred stock have been designated as Series A Convertible Preferred Stock and 2,000,000 shares of the Company’s preferred stock have been designated as Series B Preferred Stock, and 3,000,000 shares of the Company’s preferred stock remain undesignated. Series A Convertible Preferred Stock The shares of Series A Convertible Preferred Stock, par value $0.0001 per share, are not mandatorily redeemable and do not embody an unconditional obligation to settle in a variable number of equity shares. As such, the shares of Series A Convertible Preferred Stock are classified as permanent equity on the condensed consolidated balance sheets. The holders’ contingent redemption right in the event of certain deemed liquidation events does not preclude permanent equity classification. Further, the shares of Series A Convertible Preferred Stock are considered an equity-like host for purposes of assessing embedded derivative features for potential bifurcation. The embedded conversion feature is considered to be clearly and closely related to the associated convertible preferred stock host instrument and therefore was not bifurcated from the equity host. As of March 31, 2024 and December 31, 2023, no Series A preferred shares are issued and outstanding. Series B Preferred Stock On November 2, 2022, the Company filed a Certificate of Designation of the Series B Preferred Stock (the “Certificate of Designation”) with the Secretary of State of the State of Nevada to create a new class of Series B Preferred Stock, par value $0.0001 per share (the “Series B Preferred Stock”). The Certificate of Designation designated 2,000,000 shares of authorized preferred stock as Series B Preferred Stock. The Series B Preferred Stock was not entitled to receive dividends or any other distributions. The Series B Preferred Stock was entitled to ten votes per share and voted together with the Company’s issued and outstanding shares of common stock as a single class exclusively with respect to a proposal to increase the number of shares of common stock that the Company was authorized to issue, together with any ancillary or administrative matters necessary or advisable in connection with the implementation of such increase. The Series B Preferred Stock had no rights as to any distribution or assets of the Company upon a liquidation, bankruptcy, reorganization, merger, acquisition, sale, dissolution or winding up of the Company. As of March 31, 2024 and December 31, 2023, no Series B preferred shares are issued and outstanding. Common Shares Common Stock Issued for Warrant Exercise On January 8, 2024, the Company issued 55,675 common shares in connection with the exercise of 55,675 pre-funded warrants. 2018 Equity Incentive Plan The compensation committee of the board of directors increased the number of shares reserved pursuant to the Company’s 2018 Equity Incentive Plan (“2018 Plan”) by 26,878 shares effective as of January 1, 2021, such that as of January 1, 2021, the Company had an aggregate of 66,878 shares of common stock reserved for issuance pursuant to the 2018 Plan. On June 24, 2021, at the annual meeting of shareholders, shareholders of the Company approved an amendment to the 2018 Plan to further increase the number of shares reserved for issuance thereunder from 66,878 shares to 146,878 shares. On February 2, 2022, the compensation committee of the board of directors further increased the number of shares reserved for issuance under the 2018 Plan from 146,878 shares to 156,878 shares. On January 11, 2023, the compensation committee of the board of directors further increased the number of shares reserved for issuance under the 2018 Plan from 156,878 shares to 166,878 shares. On January 4, 2024, the compensation committee of the board of directors further increased the number of shares reserved for issuance under the 2018 Plan from 166,878 shares to 176,878 shares. 2022 Equity Incentive Plan On March 24, 2022, the Company’s board of directors adopted the Hoth Therapeutics, Inc. 2022 Omnibus Equity Incentive Plan (the “2022 Plan”) initially reserving 96,000 shares of the Company’s common stock for issuance thereunder. The 2022 Plan became effective on June 23, 2022 upon approval of the 2022 Plan by the Company’s shareholders at the Company’s annual meeting of shareholders. On June 2, 2023, the Company’s board of directors approved the Hoth Therapeutics, Inc. Amended and Restated 2022 Omnibus Equity Incentive Plan (the “Amended and Restated 2022 Plan”) which was approved by stockholders on August 18, 2023. Under the Amended and Restated 2022 Plan there are 591,317 shares of Company common stock available for grant. Restricted Stock Awards A summary of the Company’s restricted stock awards granted under the equity incentive plans during the three months ended March 31, 2024 is as follows: Number of Weighted Nonvested at December 31, 2023 1,693 3.16 Granted — — Vested — — Nonvested at March 31, 2024 1,693 3.16 As of March 31, 2024, approximately $1,878 of unrecognized stock-based compensation expense was related to restricted stock awards. The weighted average remaining contractual terms of unvested restricted stock awards was approximately 0.75 years on March 31, 2024. Stock Options On January 5, 2024, pursuant to and subject to the available number of shares reserved under the 2022 Plan, the Company issued an aggregate of 450,000 options to the Company’s employees and directors to purchase 450,000 shares of the Company’s common stock at an exercise price of $1.36 per share. The options vested immediately and expire on January 5, 2034. The aggregate grant date fair value of these options was $512,685, which was recorded as stock-based compensation during the three months ended March 31, 2024. The fair value of option grants was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Three Months Ended March 31, 2024 2023 Exercise price $ 1.36 $ - Term (years) 5.0 - Expected stock price volatility 120.00 % - % Risk-free rate of interest 4.02 % - % A summary of option activity under the Company’s stock option plan for the three months ended March 31, 2024 is presented below: Number of Weighted Total Weighted Outstanding as of December 31, 2023 169,362 $ 26.78 $ — 8.4 Employee options issued 450,000 $ 1.36 — — Expired (2,000 ) 147.0 — — Outstanding as of March 31, 2024 617,362 $ 7.86 $ — 9.4 Options vested and exercisable as of March 31, 2024 617,362 $ 7.86 $ — 9.4 All stock compensation associated with the amortization of employee stock option expense was recorded as a component of general and administrative expenses in the condensed consolidated statements of operations and comprehensive loss. Estimated future stock-based compensation expense relating to unvested stock options is $0. Stock Based Compensation Stock-based compensation expense for the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended 2024 2023 Employee and director stock option awards $ 512,685 $ — Non-employee restricted stock awards 665 1,972 Non-employee stock warrant awards - 8,658 $ 513,350 $ 10,630 Employee and director related stock-based compensation was included in compensation and related expenses, and non-employee related stock-based compensation was included in professional fees and research and development related with licenses acquisition in the condensed consolidated statements of operations and comprehensive loss. For the three months ended March 31, 2024 and 2023, the amount of stock-based compensation expense included within research and development and general and administrative expenses was as follows: Three Months Ended March 31, 2024 2023 Research and development $ - $ 8,658 General and administrative 513,350 1,972 $ 513,350 $ 10,630 Warrants On March 27, 2024, the Company entered into an inducement offer agreement with the Holder of the January 2023 Existing Warrants to immediately exercise for cash an aggregate 2,500,000 of the January 2023 Existing Warrants to purchase shares of the Company’s common stock at a reduced exercise price of $1.6775 per share for gross proceeds to the Company of approximately $4.2 million before deducting placement agent fees and other offering expenses payable by the Company. The exercised January 2023 Existing Warrants were issued pursuant to a securities purchase agreement dated December 29, 2022 by and between the Company and the Holder. Each January 2023 Existing Warrant was exercisable for a period of five and one-half years from the issuance date at an original exercise price of $5.00 per share. As an inducement to such exercise, the Company agreed to issue new unregistered warrants to purchase up to 3,750,000 shares of the Company’s common stock at an exercise price of $1.50 per share. The warrants are exercisable immediately upon issuance and will expire on July 3, 2028. On April 1, 2024, the Holder of the January 2023 Existing Warrants exercised such warrants, and the Company issued the investor 3,750,000 new warrants. Additionally, in connection with the January 2023 Existing Warrants exercise, the Company issued 125,000 placement agent warrants, which are exercisable until July 3, 2028 at an exercise price of $2.0969 per share. (see Note 7 to the condensed consolidated financial statements). The amendment to the January 2023 Existing Warrants on March 27, 2024 to lower the exercise price thereof and issue unregistered warrants to purchase up to 3,750,000 shares of the Company’s common stock (the “April 2024 Inducement Warrants”) is considered a modification of the January 2023 Existing Warrants under the guidance of ASU 2021-04. The modification is consistent with the “Equity Issuance” classification under that guidance as the reason for the modification was to induce the holders to cash exercise their warrants, resulting in the exercise of the January 2023 Existing Warrants on April 1, 2024. In connection with the January 2023 Existing Warrants exercise on April 1, 2024, the Company raised equity capital and generated net proceeds for the Company of approximately $3.8 million, after deducting placement agent fees and other offering expenses payable by the Company. The total fair value of the consideration of the modification includes the incremental fair value of the January 2023 Existing Warrants (determined by comparing the fair values immediately prior to and immediately after the modification). The fair values were calculated using the Black-Scholes option-pricing model, and the Company determined that the total fair value of the consideration related to the modification of the January 2023 Existing Warrants amounted to $550,500, which is reflected as a deferred offering cost on the accompanying unaudited condensed consolidation balance sheet as of March 31, 2024. The deferred offering cost will be netted against the net proceeds received on April 1, 2024. The fair value of the January 2023 Existing Warrants on the modification date were estimated using the Black-Scholes option-pricing model with the following assumptions: March 27, Exercise price $1.6775 to $5.00 Term (years) 4.25 Expected stock price volatility 109.8% Risk-free rate of interest 4.18% A summary of warrant activity for the three months ended March 31, 2024 is as follows: Number of Weighted Total Weighted Outstanding as of December 31, 2023 4,213,515 $ 7.01 $ — 4.5 Issued — — — — Expired (320,992 ) 48.02 — — Exercised (55,675 ) — — — Outstanding as of March 31, 2024 3,836,848 5.40 — 4.26 Warrants exercisable as of March 31, 2024 3,836,268 $ 5.40 $ — 4.26 The Company has determined that the warrants should be accounted for as a component of stockholders’ equity.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies [Abstract]
Commitments and Contingencies	NOTE 6 - Commitments and Contingencies Office lease Effective November 2023, the Company leased office space for a two-year term. The Company’s office lease contains a renewal option. The Company has evaluated several factors in assessing whether there is reasonable certainty that the Company will exercise its contractual renewal option concluding that it is not reasonably certain to exercise such option. As it is not reasonably certain to be exercised, the Company excluded the renewal term in determining the lease term used in calculating the right-of-use asset and lease liability. Prior to entering into this lease, the Company has not entered into any lease arrangements in excess of 12 months. The table below presents certain information related to the Company’s lease costs, which are included in general and administrative expenses in the accompanying unaudited condensed consolidated statements of operation and comprehensive loss: Three Months Ended March 31, 2024 2023 Operating lease expense $ 8,617 $ — Short term lease expense 4,653 15,120 Total lease cost $ 13,270 $ 15,120 Right-of-use asset for operating leases were recorded in the unaudited condensed consolidated balance sheets as follows: March 31, December 31, Office lease right-of-use asset $ 59,698 $ 59,698 Less accumulated amortization (11,476 ) (4,533 ) Total right-of-use asset, net $ 48,222 $ 55,165 Operating lease liability for operating leases were recorded in the unaudited condensed consolidated balance sheets as follows: March 31, December 31, Current portion of operating lease liability $ 29,321 $ 28,839 Long-term portion of operating lease liability 18,901 26,326 Total operating lease liability $ 48,222 $ 55,165 Supplemental cash flow information related to the Company’s leases for the three months ended March 31, 2024 were as follows: Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 8,196 The weighted-average remaining lease term for the operating lease is 1.25 years and the weighted-average incremental borrowing rate is 10% as of March 31, 2024 and December 31, 2023. As of March 31, 2024, future minimum lease payments required under operating leases are as follows: 2025 $ 32,784 2026 19,124 Total minimum lease payments $ 51,908 Less: effects of discounting (3,686 ) Present value of future minimum lease payments $ 48,222 Litigation The Company is not a party to any material legal proceedings and is not aware of any pending or threatened claims. From time to time, the Company may be subject to various legal proceedings and claims that arise in the ordinary course of its business activities.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstarct]
Subsequent Events	NOTE 7 – Subsequent Events The Company evaluates events that have occurred after the balance sheet date through the date for which the condensed consolidated financial statements are issued. Based upon the evaluation, except as set forth herein, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements. Warrant inducement and warrant exercise On April 1, 2024, in connection with the March 27, 2024 inducement offer agreement with the Holder of the January 2023 Existing Warrants, the Holder exercised the January 2023 Existing Warrants for cash at a reduced exercise price of $1.6775 per share resulting in gross proceeds to the Company of approximately $4.2 million before deducting placement agent fees and other offering expenses payable by the Company Additionally, in connection with the exercise of the January 2023 Existing Warrants, the Company issued 125,000 placement agent warrants at an exercise price of $2.0969 per share. The April 2024 Inducement Warrants and the placement agent warrants are exercisable immediately upon issuance and will expire on July 3, 2028. On April 1, 2024, in connection with the issuance of the April 2024 Inducement Warrants and the placement agent warrants, the Company calculated the fair value of such warrants using the Black-Scholes option-pricing model, and the Company determined that the aggregate total fair value of the April 2024 Inducement Warrant and placement agent warrants amounted to $4,166,800, which are considered offering costs and will be netted against the net proceeds received by the warrant exercise under the guidance of ASU 2021-04.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (2,040,783)	$ (2,183,507)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 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

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]
Basis of presentation and principles of consolidation	Basis of presentation and principles of consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. These unaudited interim condensed consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission (the “SEC”) on March 28, 2024. The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company’s wholly-owned subsidiaries, merveille.ai, which was incorporated under the laws of Nevada on October 4, 2023, and Hoth Therapeutics Australia Pty Ltd, which was incorporated under the laws of the State of Victoria in Australia on June 5, 2019. All significant intercompany balances and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications Certain line items on the condensed consolidated statement of operations and comprehensive loss for the three months ended March 31, 2023 have been reclassified to conform to the current period presentation. Research and development - licenses acquired (including stock-based compensation) of $48,033 was reclassified to research and development. Compensation and related expenses (including stock-based compensation) of $295,564, professional fees (including stock-based compensation) of $616,375, rent of $15,120, and other general and administrative expense of $326,880 were consolidated into one general and administrative line item. These reclassifications did not change our reported net loss or comprehensive loss for the three months ended March 31, 2023.
Emerging growth company	Emerging growth company As an emerging growth company, the Company may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, as amended, reduced disclosure obligations regarding executive compensation in its periodic reports, proxy statements and registration statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 107 of the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”) provides that an “emerging growth company” can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended (“Securities Act”), for complying with new or revised accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. The Company will remain an “emerging growth company” until the earliest of (i) the last day of the fiscal year in which it has total annual gross revenues of $1.235 billion or more; (ii) the last day of its fiscal year following the fifth anniversary of the date of its initial public offering, which would be December 31, 2024; (iii) the date on which it has issued more than $1 billion in nonconvertible debt during the previous three years; or (iv) the date on which it is deemed to be a large accelerated filer under the rules of the SEC. After the Company is no longer deemed to be an emerging growth company, it will no longer have the ability to delay the adoption of new or revised accounting standards, or to take advantage of reduced corporate governance disclosures.
Use of estimates	Use of estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting periods. The most significant estimates in the Company’s condensed consolidated financial statements relate to stock-based compensation, the valuation of modified warrants, and the valuation allowance of deferred tax assets resulting from net operating losses. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations may be affected.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 as filed with the SEC on March 28, 2024.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid investments purchased with original maturities of 90 days or less at acquisition to be cash equivalents. Cash and cash equivalents consist of bank accounts and highly liquid money funds and totaled $7,562,628 and $9,292,352 as of March 31, 2024 and December 31, 2023, respectively. Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits at the three financial institutions the Company utilizes for its banking requirements. The Company’s foreign bank accounts are not subject to FDIC insurance. Cash held in foreign bank accounts totaled $0.1 million and $0.1 million as of March 31, 2024 and December 31, 2023, respectively.
Concentrations of credit risk and off-balance sheet risk	Concentrations of credit risk and off-balance sheet risk The Company has significant cash balances at financial institutions which, throughout the year, regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.
Leases	Leases The Company determines if an arrangement is a lease at inception and classifies its leases at commencement. Operating leases are presented as right-of-use (“ROU”) assets and the corresponding lease liabilities are included in operating lease liability, current and lease liability, on the Company’s condensed consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset, and lease liabilities represent the Company’s obligation to make lease payments in exchange for the ability to use the asset for the duration of the lease term. The Company has lease agreements which contain both lease and non-lease components, which it has elected to account for as a single lease component. As such, minimum lease payments include fixed payments for non-lease components within a lease agreement but exclude variable lease payments not dependent on an index or rate, such as common area maintenance, operating expenses, utilities, or other costs that are subject to fluctuation from period to period. Certain of the leases contain an option to extend the term of the lease. The option to extend a lease is included in the lease term only when it is reasonably certain that the Company will elect that option. Additionally, the Company does not record ROU assets or lease liabilities for short-term leases that have a term of twelve months or less at lease commencement. ROU assets and lease liabilities are recognized at the commencement date and determined using the present value of the future minimum lease payments over the lease term. The Company uses an incremental borrowing rate based on an estimated rate of interest for collateralized borrowing since the Company’s leases do not include an implicit interest rate. The estimated incremental borrowing rate considers market data, actual lease economic environment, and the lease term at commencement date.
Fair value of financial instruments	Fair value of financial instruments Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements The fair value of the Company’s assets and liabilities, which would qualify as financial instruments under ASC Topic 820, approximates the carrying amounts represented in the Company’s condensed consolidated balance sheets, primarily due to their short-term nature. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace. Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. During the three months ended March 31, 2024 and 2023, there were no changes in valuation techniques or transfers between Level 1, Level 2, and Level 3.
Investment in joint ventures	Investment in joint ventures Ownership interests in entities for which the Company has significant influence that are not consolidated are accounted for as equity method investments. SEC Staff Announcement: Accounting for Limited Partnership Investments (codified in ASC 323-30-S99-1) guidance requires the use of the equity method unless the investor’s interest “is so minor that the limited partner may have virtually no influence over partnership operating and financial policies.” The SEC staff’s position is that investments in limited partnerships of greater than 3% to 5% are considered more than minor and, therefore, should be accounted for using the equity method or fair value option. Investments accounted for using the equity method may be reported on a lag up to three months if financial statements of the investee are not available in sufficient time for the investor to apply the equity method as of the current reporting date. The determination of whether an investee’s results are recorded on a lag is made on an investment-by-investment basis. This investment in joint ventures is further described in Note 4 of these unaudited condensed consolidated financial statements.
Research and development costs	Research and development costs Research and development costs, including acquired in-process research and development expenses for which there is no alternative future use, are expensed as incurred. Advance payments for goods and services that will be used in future research and development activities are expensed when the activity has been performed or when the goods have been received rather than when the payment is made.
Stock-based compensation	Stock-based compensation The Company accounts for stock-based payment awards exchanged for services at the estimated grant date fair value of the award. Stock options issued under the Company’s long-term incentive plans are granted with an exercise price equal to no less than the market price of the Company’s stock at the date of grant and expire up to ten years from the date of grant. Options are generally issued fully vested. The Company accounts for forfeited awards as they occur. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. Expected Term Expected Volatility Risk-Free Interest Rate Expected Dividend The Company grants restricted stock awards under its equity incentive plan. Restricted stock awards are granted to employees and non-employees. The restricted stock awards are measured based on the grant-date fair value. In general, the restricted stock awards vest over a service period of zero to three years. Stock-based compensation expense is generally recognized based on the straight-line basis over the requisite service period and forfeitures are accounted for as they occur. The Company has issued warrants to non-employees. The warrants are measured based on the grant-date fair value. In general, the warrants vest over a term of zero to ten years. Stock-based compensation expense is generally recognized based on the straight-line basis over the vesting term.
Income taxes	Income taxes Income taxes are recorded in accordance with ASC 740, Income Taxes The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances.
Net loss per share	Net loss per share Net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Since the Company had a net loss in the periods presented, basic and diluted net loss per common share are the same. The following were excluded from the computation of diluted shares outstanding due to the losses for each period presented, as they would have had an anti-dilutive impact on the Company’s net loss: As of March 31, Potentially dilutive securities 2024 2023 Warrants 3,836,848 3,002,840 Options 617,362 104,651 Non-vested restricted stock awards 1,693 3,384 Total 4,455,903 3,110,875
Recent accounting pronouncements	Recent accounting pronouncements Currently, management does not believe that any other recently issued, but not yet effective accounting pronouncements, if currently adopted, would have a material impact on the Company’s condensed consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]
Schedule of Anti-Dilutive Impact on the Company’s Net Loss	The following were excluded from the computation of diluted shares outstanding due to the losses for each period presented, as they would have had an anti-dilutive impact on the Company’s net loss: As of March 31, Potentially dilutive securities 2024 2023 Warrants 3,836,848 3,002,840 Options 617,362 104,651 Non-vested restricted stock awards 1,693 3,384 Total 4,455,903 3,110,875

License Agreements (Tables)

License Agreements (Tables)	3 Months Ended
	Mar. 31, 2024
License Agreements [Abstract]
Schedule of Research and Development Expenses for Licenses Acquired	The following summarizes the Company’s research and development expenses for licenses acquired during the three months ended March 31, 2024 and 2023: Three Months Ended 2024 2023 The George Washington University $ 1,250 $ 41,158 North Carolina State University 1,562 - Virginia Commonwealth University - 6,250 University of Cincinnati - 625 $ 2,812 $ 48,033

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value of Financial Assets and Liabilities [Abstract]
Schedule of Assets and Liabilities that are Measured at Fair Value	The following table presents the Company’s assets and liabilities that are measured at fair value on March 31, 2024 and December 31, 2023: Fair value measured on March 31, 2024 Total at Quoted prices Significant Significant Assets Investment in joint ventures $ 36,819 $ — $ — $ 36,819 Fair value measured on December 31, 2023 Total at Quoted prices Significant Significant Assets Investment in joint ventures $ 37,400 $ — $ — $ 37,400
Schedule of Level 3 Financial Assets are Measured Fair Value	The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial assets that are measured at fair value on a recurring basis as of March 31, 2024 and 2023: Investment in joint venture for the three months ended March 31, 2024 Investment in joint ventures at fair value at December 31, 2023 $ 37,400 Change in fair value of investments in joint ventures (581 ) Investment in joint ventures at fair value at March 31, 2024 $ 36,819 Investment in joint venture for the three months ended March 31, 2023 Investment in joint ventures at fair value at December 31, 2022 $ 33,000 Change in fair value of investments in joint ventures — Investment in joint ventures at fair value at March 31, 2023 $ 33,000

Stockholders Equity (Tables)

Stockholders Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Stockholders Equity [Abstract]
Schedule of Restricted Stock Awards Granted	A summary of the Company’s restricted stock awards granted under the equity incentive plans during the three months ended March 31, 2024 is as follows: Number of Weighted Nonvested at December 31, 2023 1,693 3.16 Granted — — Vested — — Nonvested at March 31, 2024 1,693 3.16
Schedule of Fair Value of Options Granted Assumptions	The fair value of option grants was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Three Months Ended March 31, 2024 2023 Exercise price $ 1.36 $ - Term (years) 5.0 - Expected stock price volatility 120.00 % - % Risk-free rate of interest 4.02 % - % March 27, Exercise price $1.6775 to $5.00 Term (years) 4.25 Expected stock price volatility 109.8% Risk-free rate of interest 4.18%
Schedule of Stock Option Plan	A summary of option activity under the Company’s stock option plan for the three months ended March 31, 2024 is presented below: Number of Weighted Total Weighted Outstanding as of December 31, 2023 169,362 $ 26.78 $ — 8.4 Employee options issued 450,000 $ 1.36 — — Expired (2,000 ) 147.0 — — Outstanding as of March 31, 2024 617,362 $ 7.86 $ — 9.4 Options vested and exercisable as of March 31, 2024 617,362 $ 7.86 $ — 9.4
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense for the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended 2024 2023 Employee and director stock option awards $ 512,685 $ — Non-employee restricted stock awards 665 1,972 Non-employee stock warrant awards - 8,658 $ 513,350 $ 10,630
Schedule of Stock-Based Compensation Expense Included Within Research and Development and General and Administrative Expenses	For the three months ended March 31, 2024 and 2023, the amount of stock-based compensation expense included within research and development and general and administrative expenses was as follows: Three Months Ended March 31, 2024 2023 Research and development $ - $ 8,658 General and administrative 513,350 1,972 $ 513,350 $ 10,630
Schedule of Warrant Activity	A summary of warrant activity for the three months ended March 31, 2024 is as follows: Number of Weighted Total Weighted Outstanding as of December 31, 2023 4,213,515 $ 7.01 $ — 4.5 Issued — — — — Expired (320,992 ) 48.02 — — Exercised (55,675 ) — — — Outstanding as of March 31, 2024 3,836,848 5.40 — 4.26 Warrants exercisable as of March 31, 2024 3,836,268 $ 5.40 $ — 4.26

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies [Abstract]
Schedule of Lease Cost	The table below presents certain information related to the Company’s lease costs, which are included in general and administrative expenses in the accompanying unaudited condensed consolidated statements of operation and comprehensive loss: Three Months Ended March 31, 2024 2023 Operating lease expense $ 8,617 $ — Short term lease expense 4,653 15,120 Total lease cost $ 13,270 $ 15,120
Schedule of Right-of-Use Asset for Operating Leases	Right-of-use asset for operating leases were recorded in the unaudited condensed consolidated balance sheets as follows: March 31, December 31, Office lease right-of-use asset $ 59,698 $ 59,698 Less accumulated amortization (11,476 ) (4,533 ) Total right-of-use asset, net $ 48,222 $ 55,165
Schedule of Operating Lease Liability	Operating lease liability for operating leases were recorded in the unaudited condensed consolidated balance sheets as follows: March 31, December 31, Current portion of operating lease liability $ 29,321 $ 28,839 Long-term portion of operating lease liability 18,901 26,326 Total operating lease liability $ 48,222 $ 55,165
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information related to the Company’s leases for the three months ended March 31, 2024 were as follows: Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 8,196
Schedule of Future Minimum Lease Payments	As of March 31, 2024, future minimum lease payments required under operating leases are as follows: 2025 $ 32,784 2026 19,124 Total minimum lease payments $ 51,908 Less: effects of discounting (3,686 ) Present value of future minimum lease payments $ 48,222

Organization and Description _2

Organization and Description of Business Operations (Details) - USD ($)		1 Months Ended	3 Months Ended
	Mar. 27, 2024	Apr. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Organization and Description of Business Operations [Line Items]
Date of incorporation			May 16, 2017
Accumulated deficit			$ (54,985,289)	$ (52,944,506)
Cash and cash equivalents			$ 7,562,628	$ 9,292,352
Warrants to purchase		2,500,000
Exercise price, per share	$ 1.6775	$ 1.6775
Common stock, shares issued			4,403,804	4,348,129
Net Proceeds after deduction		$ 4,200,000
Liquidity and Capital Resources [Member]
Organization and Description of Business Operations [Line Items]
Accumulated deficit			$ 55,000,000
Warrant Holder [Member]
Organization and Description of Business Operations [Line Items]
Warrant issued		2,500,000
Common Stock [Member]
Organization and Description of Business Operations [Line Items]
Common stock, shares issued		2,500,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Summary of Significant Accounting Policies (Details) [Line Items]
Research and development	$ 465,896	$ 938,878
Compensation and related expenses	295,564
Professional fees	616,375
Rent	15,120
Other general and administrative expense	326,880
Gross revenue	1,235,000,000
Non convertible debt	1,000,000,000
Liquid money funds	7,562,628		$ 9,292,352
Bank accounts	100,000		$ 100,000
Federally insured limit	250,000
Limited Partnership [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Research and development	$ 48,033
Minimum [Member] | Limited Partnership [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Limited partnership, percentage	3%
Maximum [Member] | Limited Partnership [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Limited partnership, percentage	5%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Anti-Dilutive Impact on the Company’s Net Loss - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Anti-Dilutive Impact on the Company’s Net Loss [Line Items]
Total Anti-dilutive	4,455,903	3,110,875
Warrants [Member]
Schedule of Anti-Dilutive Impact on the Company’s Net Loss [Line Items]
Total Anti-dilutive	3,836,848	3,002,840
Options [Member]
Schedule of Anti-Dilutive Impact on the Company’s Net Loss [Line Items]
Total Anti-dilutive	617,362	104,651
Non-vested restricted stock awards [Member]
Schedule of Anti-Dilutive Impact on the Company’s Net Loss [Line Items]
Total Anti-dilutive	1,693	3,384

License Agreements (Details)

License Agreements (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
The George Washington University [Member]
License Agreements [Line Items]
Company expenses	$ 0	$ 30,000
License fee	1,250	2,500
North Carolina State University [Member]
License Agreements [Line Items]
License fee	1,562	0
Virginia Commonwealth University [Member]
License Agreements [Line Items]
License fee	0	6,250
Chelexa Biosciences, Inc. and the University of Cincinnati [Member]
License Agreements [Line Items]
License fee	$ 0	625
Warrant [Member] | The George Washington University [Member]
License Agreements [Line Items]
Company expenses		$ 8,658

License Agreements (Details) -

License Agreements (Details) - Schedule of Research and Development Expenses for Licenses Acquired - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Research and Development Expenses for Licenses Acquired [Line Items]
Research and development expense	$ 2,812	$ 48,033
The George Washington University [Member]
Schedule of Research and Development Expenses for Licenses Acquired [Line Items]
Research and development expense	1,250	41,158
North Carolina State University [Member]
Schedule of Research and Development Expenses for Licenses Acquired [Line Items]
Research and development expense	1,562
Virginia Commonwealth University [Member]
Schedule of Research and Development Expenses for Licenses Acquired [Line Items]
Research and development expense		6,250
University of Cincinnati [Member]
Schedule of Research and Development Expenses for Licenses Acquired [Line Items]
Research and development expense		$ 625

Fair Value of Financial Asset_3

Fair Value of Financial Assets and Liabilities (Details) - USD ($)	Apr. 05, 2024	Mar. 31, 2024	Feb. 23, 2024	Dec. 31, 2023	Dec. 06, 2021	May 04, 2020
Fair Value of Financial Assets and Liabilities [Line Items]
Shares issued	79	125,000
Common stock per share (in Dollars per share)	$ 0.0036			$ 0.17
Investment (in Dollars)		$ 36,819		$ 37,400
Common Class B [Member]
Fair Value of Financial Assets and Liabilities [Line Items]
Shares issued			22,000		100,000	120,000
Common stock value (in Dollars)						$ 60,000
Common stock per share (in Dollars per share)		$ 0.167

Fair Value of Financial Asset_4

Fair Value of Financial Assets and Liabilities (Details) - Schedule of Assets and Liabilities that are Measured at Fair Value - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Assets
Investment in joint ventures	$ 36,819	$ 37,400
Quoted prices in active markets (Level 1) [Member]
Assets
Investment in joint ventures
Significant other observable inputs (Level 2) [Member]
Assets
Investment in joint ventures
Significant unobservable inputs (Level 3) [Member]
Assets
Investment in joint ventures	$ 36,819	$ 37,400

Fair Value of Financial Asset_5

Fair Value of Financial Assets and Liabilities (Details) - Schedule of Level 3 Financial Assets are Measured Fair Value - Level 3 Financial Assets [Member] - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Level 3 Financial Assets are Measured Fair Value [Line Items]
Investment in joint ventures at fair value	$ 37,400	$ 33,000
Change in fair value of investments in joint ventures	(581)
Investment in joint ventures at fair value	$ 36,819	$ 33,000

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($)

1 Months Ended

3 Months Ended

Apr. 01, 2024

Mar. 27, 2024

Jan. 08, 2024

Jan. 05, 2024

Jan. 04, 2024

Jan. 11, 2023

Mar. 24, 2022

Feb. 02, 2022

Jun. 24, 2021

Jan. 01, 2021

Apr. 30, 2024

Mar. 31, 2024

Apr. 05, 2024

Dec. 31, 2023

Sep. 30, 2023

Nov. 02, 2022

Stockholder’s Equity [Line Items]

Preferred stock, shares authorized

10,000,000

10,000,000

Preferred stock, shares undesignated

3,000,000

3,000,000

Preferred stock, par value (in Dollars per share)

$ 0.0001

$ 0.0001

Common stock shares issued

4,403,804

4,348,129

Exercise of pre-funded warrants

55,675

Unrecognized stock-based compensation expense (in Dollars)

$ 1,878

Unrecognized stock-based compensation term

9 months

Share issued

125,000

79

Directors to purchase shares

450,000

Exercise price per share (in Dollars per share)

$ 1.6775

$ 1.6775

Fair value options (in Dollars)

$ 512,685

Stock-based compensation expense relating to unvested stock options (in Dollars)

$ 0

Deducting placement agent fees (in Dollars per share)

$ 4,200,000

Price per share (in Dollars per share)

$ 0.0036

$ 0.17

Warrant expirations

Jul. 03, 2028

Placement agent warrant

125,000

Warrants to purchase

3,750,000

Warrant amount (in Dollars)

$ 550,500

Warrant [Member]

Stockholder’s Equity [Line Items]

Common stock shares issued

55,675

Exercise Price [Member]

Stockholder’s Equity [Line Items]

Exercise price per share (in Dollars per share)

$ 1.36

Common Stock [Member]

Stockholder’s Equity [Line Items]

Warrant issued

3,750,000

Price per share (in Dollars per share)

$ 1.5

2018 Plan [Member]

Stockholder’s Equity [Line Items]

Aggregate of shares

26,878

Common stock reserved

66,878

2018 Plan [Member] | Minimum [Member]

Stockholder’s Equity [Line Items]

Issuance thereunder shares

166,878

156,878

146,878

66,878

2018 Plan [Member] | Maximum [Member]

Stockholder’s Equity [Line Items]

Issuance thereunder shares

176,878

166,878

156,878

146,878

2022 Equity Incentive Plan [Member]

Stockholder’s Equity [Line Items]

Issuance thereunder shares

96,000

Restated 2022 Plan [Member]

Stockholder’s Equity [Line Items]

Common stock available for grant

591,317

Subsequent Event [Member]

Stockholder’s Equity [Line Items]

Original exercise price per share (in Dollars per share)

$ 2.0969

Generated net proceeds (in Dollars)

$ 3,800,000

Subsequent Event [Member] | Warrant [Member]

Stockholder’s Equity [Line Items]

Share issued

2,500,000

New warrants were issued

3,750,000

Series A Convertible Preferred Stock [Member]

Stockholder’s Equity [Line Items]

Preferred stock, par value (in Dollars per share)

$ 0.0001

0.0001

Series A Convertible Preferred Stock [Member] | Preferred Stock [Member]

Stockholder’s Equity [Line Items]

Preferred stock, shares authorized

5,000,000

Series B Preferred Stock [Member]

Stockholder’s Equity [Line Items]

Preferred stock, shares authorized

2,000,000

Preferred stock, par value (in Dollars per share)

$ 0.0001

$ 0.0001

$ 0.0001

Share issued

450,000

Sale of stock

2,500,000

Series B Preferred Stock [Member] | Preferred Stock [Member]

Stockholder’s Equity [Line Items]

Preferred stock, shares authorized

2,000,000

2,000,000

Exercise Price [Member]

Stockholder’s Equity [Line Items]

Exercise price per share (in Dollars per share)

$ 5

Stockholders Equity (Details) -

Stockholders Equity (Details) - Schedule of Restricted Stock Awards Granted	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Schedule of Restricted Stock Awards Granted [Abstract]
Number of shares,Outstanding | shares	1,693
Weighted Average Grant Day Fair Value, Nonvested at Beginning Balance | $ / shares	$ 3.16
Number of Restricted Stock Awards, Granted | shares
Weighted Average Grant Day Fair Value, Granted | $ / shares
Number of Restricted Stock Awards, Vested | shares
Weighted Average Grant Day Fair Value, Vested | $ / shares
Number of shares,Outstanding | shares	1,693
Weighted Average Grant Day Fair Value, Nonvested at Ending Balance | $ / shares	$ 3.16

Stockholders Equity (Details)_2

Stockholders Equity (Details) - Schedule of Fair Value of Options Granted Assumptions - $ / shares		3 Months Ended
	Mar. 27, 2024	Mar. 31, 2024	Mar. 31, 2023
Stockholders Equity (Details) - Schedule of Fair Value of Options Granted Assumptions [Line Items]
Exercise price (in Dollars per share)		$ 1.36
Term (years)	4 years 3 months	5 years
Expected stock price volatility	109.80%	120%
Risk-free rate of interest	4.18%	4.02%
Maximum [Member]
Stockholders Equity (Details) - Schedule of Fair Value of Options Granted Assumptions [Line Items]
Exercise price (in Dollars per share)	$ 1.6775
Minimum [Member]
Stockholders Equity (Details) - Schedule of Fair Value of Options Granted Assumptions [Line Items]
Exercise price (in Dollars per share)	$ 5

Stockholders Equity (Details)_3

Stockholders Equity (Details) - Schedule of Stock Option Plan - USD ($)		3 Months Ended
	Dec. 31, 2023	Mar. 31, 2024
Schedule of Stock Option Plan [Abstract]
Number of Shares, Outstanding	169,362	617,362
Weighted Average Exercise Price, Outstanding	$ 26.78	$ 7.86
Total Intrinsic Value, Outstanding
Weighted Average Remaining Contractual Life (in years), Outstanding	8 years 4 months 24 days	9 years 4 months 24 days
Number of Shares, Options vested and exercisable		617,362
Weighted Average Exercise Price, Options vested and exercisable		$ 7.86
Total Intrinsic Value, Options vested and exercisable
Weighted Average Remaining Contractual Life (in years), Options vested and exercisable		9 years 4 months 24 days
Number of Shares, Employee options issued		450,000
Weighted Average Exercise Price, Employee options issued		$ 1.36
Total Intrinsic Value, Employee options issued
Weighted Average Remaining Contractual Life (in years), Employee options issued
Number of Shares, Expired		(2,000)
Weighted Average Exercise Price, Expired		$ 147
Total Intrinsic Value, Expired
Weighted Average Remaining Contractual Life (in years), Expired

Stockholders Equity (Details)_4

Stockholders Equity (Details) - Schedule of Stock-Based Compensation Expense - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Stock-Based Compensation Expense [Line Items]
Stock-based compensation, total	$ 513,350	$ 10,630
Employee & director stock option awards [Member]
Schedule of Stock-Based Compensation Expense [Line Items]
Stock-based compensation, total	512,685
Non-employee restricted stock awards [Member]
Schedule of Stock-Based Compensation Expense [Line Items]
Stock-based compensation, total	665	1,972
Non-Employee Stock Warrant Awards [Member]
Schedule of Stock-Based Compensation Expense [Line Items]
Stock-based compensation, total		$ 8,658

Stockholders Equity (Details)_5

Stockholders Equity (Details) - Schedule of Stock-Based Compensation Expense Included Within Research and Development and General and Administrative Expenses - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Stock-Based Compensation Expense Included Within Research and Development and General and Administrative Expenses [Abstract]
Stock-based compensation	$ 513,350	$ 10,630
Research and Development [Member]
Schedule of Stock-Based Compensation Expense Included Within Research and Development and General and Administrative Expenses [Abstract]
Stock-based compensation		8,658
General and Administrative [Member]
Schedule of Stock-Based Compensation Expense Included Within Research and Development and General and Administrative Expenses [Abstract]
Stock-based compensation	$ 513,350	$ 1,972

Stockholders Equity (Details)_6

Stockholders Equity (Details) - Schedule of Warrant Activity - Warrant Activity [Member] - USD ($)		3 Months Ended
	Dec. 31, 2023	Mar. 31, 2024
Schedule of Warrant Activity [Line Items]
Number of shares,Outstanding	4,213,515	3,836,848
Weighted Average Exercise Price, Outstanding	$ 7.01	$ 5.4
Total Intrinsic Value, Outstanding
Weighted Average Remaining Contractual Life (in years), Outstanding	4 years 6 months	4 years 3 months 3 days
Number of Warrants, Warrants exercisable		3,836,268
Weighted Average Exercise Price, Warrants exercisable		$ 5.4
Total Intrinsic Value, Warrants exercisable
Weighted Average Remaining Contractual Life (in years), Warrants exercisable		4 years 3 months 3 days
Number of Warrants, Issued
Weighted Average Exercise Price, Issued
Total Intrinsic Value, Issued
Weighted Average Remaining Contractual Life (in years), Issued
Number of Warrants, Expired		(320,992)
Weighted Average Exercise Price, Expired		$ 48.02
Total Intrinsic Value, Expired
Weighted Average Remaining Contractual Life (in years), Expired
Number of Warrants, Exercised		(55,675)
Weighted Average Exercise Price, Exercised
Total Intrinsic Value, Exercised
Weighted Average Remaining Contractual Life (in years), Exercised

Commitments and Contingencies_2

Commitments and Contingencies (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Commitments and Contingencies [Abstract]
Weighted average remaining lease term	1 year 3 months
Weighted average incremental borrowing rate	10%	10%

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of Lease Cost - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Lease Cost [Abstract]
Operating lease expense	$ 8,617
Short term lease expense	4,653	15,120
Total lease cost	$ 13,270	$ 15,120

Commitments and Contingencies_4

Commitments and Contingencies (Details) - Schedule of Right-of-Use Asset for Operating Leases - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Schedule of Right-of-Use Asset and Lease Liability for Operating Leases [Abstract]
Office lease right-of-use asset	$ 59,698	$ 59,698
Less accumulated amortization	(11,476)	(4,533)
Total right-of-use asset, net	$ 48,222	$ 55,165

Commitments and Contingencies_5

Commitments and Contingencies (Details) - Schedule of Operating Lease Liability - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Schedule of Operating Lease Liability [Abstract]
Current portion of operating lease liability	$ 29,321	$ 28,839
Long-term portion of operating lease liability	18,901	26,326
Total operating lease liability	$ 48,222	$ 55,165

Commitments and Contingencies_6

Commitments and Contingencies (Details) - Schedule of Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2024 USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$ 8,196

Commitments and Contingencies_7

Commitments and Contingencies (Details) - Schedule of Future Minimum Lease Payments - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Schedule of Future Minimum Lease Payments [Abstract]
2025	$ 32,784
2026	19,124
Total minimum lease payments	51,908
Less: effects of discounting	(3,686)
Present value of future minimum lease payments	$ 48,222	$ 55,165

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Apr. 01, 2024	Apr. 30, 2024	Apr. 05, 2024	Mar. 31, 2024	Jan. 08, 2024	Dec. 31, 2023
Stockholders Equity [Line Item]
Warrant to purchase			79	125,000
Common stock, shares issued				4,403,804		4,348,129
Offering costs				$ 550,500
Warrant [Member]
Stockholders Equity [Line Item]
Common stock, shares issued					55,675
Subsequent Event [Member]
Stockholders Equity [Line Item]
Gross proceeds	$ 4,200,000
Net proceeds	3,800,000
Other offering expenses	$ 436,450
Common share holders	2,015,000
Subsequent Event [Member] | Warrant [Member]
Stockholders Equity [Line Item]
Warrant exercise price	$ 1.6775
Warrant to purchase	2,500,000
Offering costs	$ 4,166,800
Subsequent Event [Member] | Agent Warrant [Member]
Stockholders Equity [Line Item]
Warrant exercise price	$ 2.0969
Common Stock [Member]
Stockholders Equity [Line Item]
Common stock, shares issued		2,500,000
Common Stock [Member] | Subsequent Event [Member]
Stockholders Equity [Line Item]
Common stock, shares issued	485,000