Longeveron (LGVN) 10-Q 12 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 08, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Registrant Name	Longeveron Inc.
Entity Central Index Key	0001721484
Entity File Number	001-40060
Entity Tax Identification Number	47-2174146
Entity Incorporation, State or Country Code	DE
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 Address, Address Line One	1951 NW 7th Avenue
Entity Address, Address Line Two	Suite 520
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33136
City Area Code	(305)
Local Phone Number	909-0840
Title of 12(b) Security	Class A common stock, par value $0.001 per share
Trading Symbol	LGVN
Security Exchange Name	NASDAQ
Class A common stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		13,352,770
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,484,005

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 22,778,000	$ 4,949,000
Marketable securities	0	412,000
Prepaid expenses and other current assets	609,000	376,000
Accounts and grants receivable	380,000	111,000
Total current assets	23,767,000	5,848,000
Property and equipment, net	2,622,000	2,529,000
Intangible assets, net	2,347,000	2,287,000
Operating lease asset	970,000	1,221,000
Other assets	203,000	193,000
Total assets	29,909,000	12,078,000
Current liabilities:
Accounts payable	887,000	638,000
Accrued expenses	1,479,000	2,152,000
Current portion of lease liability	616,000	593,000
Deferred revenue	118,000	506,000
Total current liabilities	3,100,000	3,889,000
Long-term liabilities:
Lease liability	983,000	1,448,000
Other liabilities	199,000	0
Total long-term liabilities	1,182,000	1,448,000
Total liabilities	4,282,000	5,337,000
Commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock, $0.001 par value per share, 5,000,000 shares authorized, no shares issued and outstanding at September 30, 2024, and December 31, 2023
Additional paid-in capital	131,139,000	91,823,000
Stock subscription receivable	0	(100,000)
Accumulated deficit	(105,525,000)	(84,984,000)
Accumulated other comprehensive loss	(1,000)	0
Total stockholders’ equity	25,627,000	6,741,000
Total liabilities and stockholders’ equity	29,909,000	12,078,000
Class A Common Stock
Stockholders’ equity:
Common stock value	13,000	1,000
Class B common stock
Stockholders’ equity:
Common stock value	$ 1,000	$ 1,000

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	84,295,000	84,295,000
Common stock, shares issued	13,352,770	1,025,183
Common stock, shares outstanding	13,352,770	1,025,183
Class B common stock
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	15,705,000	15,705,000
Common stock, shares issued	1,484,005	1,485,560
Common stock, shares outstanding	1,484,005	1,485,560

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues
Total revenues	$ 773	$ 150	$ 1,789	$ 646
Cost of revenues	91	96	435	423
Gross profit	682	54	1,354	223
Operating expenses
General and administrative	3,125	3,372	7,447	8,902
Research and development	2,206	1,843	6,148	6,910
Total operating expenses	5,331	5,215	13,595	15,812
Loss from operations	(4,649)	(5,161)	(12,241)	(15,589)
Other income
Other income, net	230	55	349	204
Total other income, net	230	55	349	204
Net loss	(4,419)	(5,106)	(11,892)	(15,385)
Deemed dividend – warrant inducement offers	(149)	(798)	(8,650)	(798)
Net loss attributable to common stockholders	$ (4,568)	$ (5,904)	$ (20,542)	$ (16,183)
Basic net loss per share	$ (0.34)	$ (2.79)	$ (2.71)	$ (7.29)
Diluted net loss per share	$ (0.34)	$ (2.79)	$ (2.71)	$ (7.29)
Basic weighted average common shares outstanding	13,627,793	2,117,877	7,572,601	2,110,646
Diluted weighted average common shares outstanding	13,627,793	2,117,877	7,572,601	2,110,646
Clinical trial revenue
Revenues
Total revenues	$ 210	$ 150	$ 1,012	$ 605
Contract manufacturing revenue
Revenues
Total revenues	$ 563		$ 777
Grant revenue
Revenues
Total revenues				$ 41

Condensed Statements of Compreh

Condensed Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (4,419)	$ (5,106)	$ (11,892)	$ (15,385)
Other comprehensive loss:
Net unrealized gain (loss) on available-for-sale securities		26	(1)	48
Total comprehensive loss	$ (4,419)	$ (5,080)	$ (11,893)	$ (15,337)

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Class A	Common Stock	Common Stock Class A	Common Stock Class B	Subscription Receivable	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Gain
Balance at Dec. 31, 2022	$ 20,503			$ 1	$ 1	$ (100)	$ 83,731	$ (62,773)	$ (357)
Balance (in Shares) at Dec. 31, 2022				612,732	1,489,109
Conversion of Class B common stock for Class A common stock (in Shares)				3,555	(3,555)
Class A common stock, issued for RSUs vested (in Shares)				22,703
Class A common stock, held for taxes on RSUs vested	(153)						(153)
Class A common stock, held for taxes on RSUs vested (in Shares)				(4,305)
Class A common stock issued for stock rights offering (in Shares)				10,850
Equity-based compensation	1,619						1,619
Unrealized gain attributable to change in market value of available for sale investments	48								48
Dividend attributable to down round feature of 2021 warrants							798	(798)
Reverse stock split rounding adjustment (in Shares)					6
Net loss	(15,385)							(15,385)
Balance at Sep. 30, 2023	6,632			$ 1	$ 1	(100)	85,995	(78,956)	(309)
Balance (in Shares) at Sep. 30, 2023				645,535	1,485,560
Balance at Dec. 31, 2022	20,503			$ 1	$ 1	(100)	83,731	(62,773)	(357)
Balance (in Shares) at Dec. 31, 2022				612,732	1,489,109
Conversion of Class B common stock for Class A common stock (in Shares)				3,555	3,555
Balance at Dec. 31, 2023	6,741			$ 1	$ 1	(100)	91,822	(84,983)
Balance (in Shares) at Dec. 31, 2023				1,025,183	1,485,560
Balance at Jun. 30, 2023	11,263			$ 1	$ 1	(100)	84,748	(73,052)	(335)
Balance (in Shares) at Jun. 30, 2023				631,423	1,485,560
Class A common stock, issued for RSUs vested (in Shares)				4,731
Class A common stock, held for taxes on RSUs vested	(50)						(50)
Class A common stock, held for taxes on RSUs vested (in Shares)				(1,469)
Class A common stock issued for stock rights offering (in Shares)				10,850
Equity-based compensation	499						499
Unrealized gain attributable to change in market value of available for sale investments	26								26
Dividend attributable to down round feature of 2021 warrants							798	(798)
Net loss	(5,106)							(5,106)
Balance at Sep. 30, 2023	6,632			$ 1	$ 1	(100)	85,995	(78,956)	(309)
Balance (in Shares) at Sep. 30, 2023				645,535	1,485,560
Balance at Dec. 31, 2023	6,741			$ 1	$ 1	(100)	91,822	(84,983)
Balance (in Shares) at Dec. 31, 2023				1,025,183	1,485,560
Conversion of Class B common stock for Class A common stock (in Shares)				1,555	(1,555)
Class A common stock, issued for RSUs vested (in Shares)				482,246
Class A common stock, held for taxes on RSUs vested	(296)						(296)
Class A common stock, held for taxes on RSUs vested (in Shares)				(109,461)
Class A common stock, issued for PSUs vested (in Shares)				8,002
Class A common stock, held for taxes on PSUs vested	(17)						(17)
Class A common stock, held for taxes on PSUs vested (in Shares)				(3,268)
Collection of stock subscription receivable	100					$ 100
Equity-based compensation	1,938						1,938
Unrealized gain attributable to change in market value of available for sale investments	(1)								(1)
Class A common stock issued in public offering, net of issuance cost	12,866			$ 4			12,862
Class A common stock issued in public offering, net of issuance cost (in Shares)				4,448,792
Class A common stock issue for warrants exercised, net of issuance cost	16,188			$ 8			16,180
Class A common stock issue for warrants exercised, net of issuance cost (in Shares)		0		7,432,751
Deemed dividend – warrant inducement offers							8,650	(8,650)
Reverse stock split rounding adjustment (in Shares)				66,970
Net loss	(11,892)							(11,892)
Balance at Sep. 30, 2024	25,627		$ 131,139	$ 13	$ 1		131,139	(105,525)	(1)
Balance (in Shares) at Sep. 30, 2024				13,352,770	1,484,005
Balance at Jun. 30, 2024	14,909			$ 8	$ 1		115,858	(100,957)	(1)
Balance (in Shares) at Jun. 30, 2024				8,116,909	1,484,005
Class A common stock, issued for RSUs vested (in Shares)				472,532
Class A common stock, held for taxes on RSUs vested	(270)						(270)
Class A common stock, held for taxes on RSUs vested (in Shares)				(105,960)
Equity-based compensation	1,413						1,413
Class A common stock issued in public offering, net of issuance cost	8,144			$ 2			8,142
Class A common stock issued in public offering, net of issuance cost (in Shares)				2,236,026
Class A common stock issue for warrants exercised, net of issuance cost	5,850			$ 3			5,847
Class A common stock issue for warrants exercised, net of issuance cost (in Shares)				2,633,263
Deemed dividend – warrant inducement offers							149	(149)
Net loss	(4,419)							(4,419)
Balance at Sep. 30, 2024	$ 25,627		$ 131,139	$ 13	$ 1		$ 131,139	$ (105,525)	$ (1)
Balance (in Shares) at Sep. 30, 2024				13,352,770	1,484,005

Condensed Statements of Chang_2

Condensed Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Statement of Stockholders' Equity [Abstract]
Class A common stock issued in public offering, issuance costs	$ 919	$ 2,064
Class A common stock issued for warrants exercised, issuance costs	$ 494	$ 1,855

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net loss	$ (11,892)	$ (15,385)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	716	710
Interest earned on marketable securities	60	180
Equity-based compensation	1,938	1,619
Changes in operating assets and liabilities:
Accounts and grants receivable	(269)	122
Prepaid expenses and other current assets	(233)	(611)
Other assets	(10)	47
Accounts payable	248	(922)
Deferred revenue	(387)
Nonoperating lawsuit liability		(1,398)
Accrued expenses	(674)	823
Operating lease asset and lease liability	(191)	(190)
Other liabilities	199
Net cash used in operating activities	(10,495)	(15,005)
Cash flows from investing activities
Proceeds from the sale of marketable securities	352	7,057
Acquisition of property and equipment	(642)	(137)
Acquisition of intangible assets	(227)	(298)
Net cash (used in) provided by investing activities	(517)	6,622
Cash flows from financing activities
Proceeds from the issuance of common stock, net of issuance cost	12,866
Proceeds from warrants exercised, net of issuance cost	16,188
Proceeds from stock subscription receivable	100
Payments for taxes on RSUs vested and PSUs vested	(313)	(153)
Net cash provided by (used in) financing activities	28,841	(153)
Change in cash and cash equivalents	17,829	(8,536)
Cash and cash equivalents at beginning of the period	4,949	10,503
Cash and cash equivalents at end of the period	22,778	1,967
Supplement Disclosure of Non-cash Investing and Financing Activities:
Vesting of RSUs and PSUs into Class A common stock	(978)	(717)
Deemed dividend – warrant inducement offers	$ 8,650	$ 798

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (4,419)	$ (5,106)	$ (11,892)	$ (15,385)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Trading Arrangements On July 10, 2024 , Rock Soffer , a member of the Company’s Board of Directors , terminated his previously adopted “Rule 10b5-1 trading arrangement.” The trading arrangement, adopted January 11, 2024 , and effective January 12, 2024, was intended to satisfy the affirmative defense of Rule 10b5-1(c). The trading arrangement, was set to expire on the earlier of (a) April 17, 2025; (b) completion of the sale of 275,000 shares of Longeveron Class A common stock; (c) notice or awareness of the closing of a tender or exchange offer or a merger, acquisition, reorganization, recapitalization, or comparable transaction for Longeveron in which its capital stock is exchanged or converted; (d) the death, incapacity, bankruptcy, or insolvency of Mr. Soffer; or (e) such other termination in accordance with its terms. During its term, no shares of Longeveron Class A common stock were sold pursuant to the arrangement. Other than Mr. Soffer, n one of the Company’s directors or “officers,” as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), adopted , modified , or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K, during the Company’s fiscal quarter ended September 30, 2024 .
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b51 ArrModified Flag	false
Non-Rule 10b51 ArrModified Flag	false
Rock Soffer [Member]
Trading Arrangements, by Individual
Name	Rock Soffer
Title	member of the Company’s Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	January 11, 2024
Rule 10b5-1 Arrangement Terminated	true
Termination Date	July 10, 2024
Aggregate Available	275,000

Nature of Business, Basis of Pr

Nature of Business, Basis of Presentation, and Liquidity	9 Months Ended
	Sep. 30, 2024
Nature of Business, Basis of Presentation, and Liquidity [Abstract]
Nature of Business, Basis of Presentation, and Liquidity	1. Nature of Business, Basis of Presentation, and Liquidity Nature of business: Longeveron was formed as a Delaware limited liability company on October 9, 2014, and was authorized to transact business in Florida on December 15, 2014. On February 12, 2021, Longeveron, LLC converted its corporate form (the “Corporate Conversion”) from a Delaware limited liability company (Longeveron, LLC) to a Delaware corporation, Longeveron Inc. (the “Company,” “Longeveron” or “we,” “us,” or “our”). The Company is a clinical stage biotechnology company developing cellular therapies for specific aging-related and life-threatening conditions. The Company operates out of its leased facilities in Miami, Florida. The Company’s product candidates are currently in development. There can be no assurance that the Company’s research and development will be successfully completed, that adequate protection for the Company’s intellectual property will be obtained, that any products developed will obtain necessary government regulatory approval or that any approved products will be commercially viable. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will generate significant revenue from product sales. The Company operates in an environment of rapid technological change and substantial competition from, among others, existing pharmaceutical and biotechnology companies. In addition, the Company is dependent upon the services of its employees, partners, and consultants. The accompanying interim condensed balance sheet as of September 30, 2024, and the condensed statements of operations, statements of comprehensive loss, and statements of changes in stockholders’ equity for the three and nine months ended September 30, 2024 and 2023 and the condensed statements of cash flows for the nine months ended September 30, 2024 and 2023 are unaudited. The unaudited condensed financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, therefore, certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted. In the opinion of management, the accompanying unaudited condensed financial statements for the periods presented reflect all adjustments which are normal and recurring, and necessary to fairly state the financial position, results of operations, and cash flows of the Company. These unaudited condensed financial statements and notes should be read in conjunction with the audited financial statements and notes thereto in the Company’s 2023 Annual Report on Form 10-K filed with the SEC on February 27, 2024. Liquidity: Since inception, the Company has primarily been engaged in organizational activities, including raising capital, and research and development activities. The Company does not yet have a product that has been approved by the U.S. Food and Drug Administration (“FDA”), and has only generated revenues from grants, clinical trials and contract manufacturing. The Company has not yet achieved profitable operations or generated positive cash flows from operations. The Company intends to continue its efforts to raise additional funds via equity financing, develop its intellectual property, and secure regulatory approvals to commercialize its products. There is no assurance that profitable operations, if achieved, could be sustained on a continuing basis. Further, the Company’s future operations are dependent on the success of the Company’s efforts to raise additional capital, its research and commercialization efforts, regulatory approval, and, ultimately, the market acceptance of the Company’s approved products, if any. These condensed financial statements do not include adjustments that might result from the outcome of these uncertainties. The Company has incurred recurring losses from operations since its inception, including a net loss of $ 11.9 million and $ 15.4 million for the nine months ended September 30, 2024 and 2023, respectively. In addition, as of September 30, 2024 , the Company had an accumulated deficit of $ 105.5 million. The Company expects to continue to generate operating losses in the foreseeable future. As of September 30, 2024 , the Company had cash and cash equivalents of $ 22.8 million. The Company currently believes that its cash and cash equivalents as of September 30, 2024 will enable it to fund its operating expenses and capital expenditure requirements through the fourth quarter of 2025 based on its current operating budget and cash flow forecast. However, as a result of its successful Type C meeting with the U.S. FDA in August 2024 with respect to the HLHS regulatory pathway, the Company has started to ramp up Biologics License Application (BLA) enabling activities as the Company currently anticipates a potential filing with the FDA in 2026 if the current ELPIS II trial is successful. To the extent that the Company’s operating expenses and capital expenditure requirements accelerate in calendar 2025 as a result of these activities, including CMC (Chemistry, Manufacturing, and Controls) and manufacturing readiness, there will be a need to increase the Company's current proposed spend and further increase its capital investments. The Company intends to seek additional financing/capital raises/non-dilutive funding options to support these activities, and current cash projections may be impacted by these ramped up activities and any financing transactions entered into .

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of presentation: The condensed financial statements of the Company were prepared in accordance with U.S. GAAP. Certain reclassifications have been made to prior year condensed financial statements to conform to classifications used in the current year. These reclassifications had no impact on net loss, stockholders’ equity or cash flows as previously reported. Reverse Stock Split: On March 26, 2024, the Company effected a reverse stock split of the outstanding shares of its Class A common stock and Class B common stock on a one-for-10 (1:10) basis (the “Reverse Stock Split”). The Reverse Stock Split became effective at 11:59 p.m. Eastern Time on March 26, 2024 via a certificate of amendment to the Company’s Certificate of Incorporation filed with the Secretary of State of the State of Delaware. At the effective time of the Reverse Stock Split, every 10 shares of the Company’s Class A common stock and Class B common stock, whether issued and outstanding or held by the Company as treasury stock, were automatically combined and converted (without any further act) into one fully paid and nonassessable share of Class A common stock or Class B common stock, respectively, subject to rounding up of fractional shares to the nearest whole number of shares resulting from the Reverse Stock Split without any change in the par value per share. All share, per share, option, warrant, equity award, and other derivative security numbers and exercise prices appearing in this Quarterly Report on Form 10-Q and the accompanying condensed financial statements have been adjusted to give effect to the Reverse Stock Split for all prior periods presented. However, the Company’s annual, other periodic, and current reports, and all other information and documents incorporated by reference into this Quarterly Report on Form 10-Q that were filed prior to March 19, 2024, do not give effect to the Reverse Stock Split. Use of estimates: The presentation of condensed financial statements in conformity with U.S. 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 condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Accounting Standard Updates: A variety of proposed or otherwise potential accounting standards are currently under consideration by standard-setting organizations and certain regulatory agencies. Because of the tentative and preliminary nature of such proposed standards, management has not yet determined the effect, if any, that the implementation of such proposed standards would have on the Company’s condensed financial statements. In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Improvements to Income Tax Disclosures”. The amendments in this ASU change disclosure requirements for various items, including effective tax rate reconciliations and cash taxes paid. This ASU is effective for public companies for the financial reporting periods beginning on January 1, 2025, with early adoption permitted. The Company has not adopted ASU 2023-09 for its financial reporting period ending December 31, 2023, and will continue to evaluate early adoption for its financial reporting period ending December 31, 2024. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, "Improvements to Reportable Segment Disclosures". The amendments in this ASU are intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and by extending the disclosure requirements to entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. ASU 2023-07 is to be applied retrospectively to all prior periods presented in the financial statements. ASU 2023-07 will be effective for the Company for the annual period of its fiscal year ending December 31, 2024. The Company does not anticipate the adoption of this ASU will have a material impact on its consolidated financial statements. Cash and cash equivalents: The Company considers cash to consist of cash on hand and temporary investments having an original maturity of 90 days or less that are readily convertible into cash. Marketable securities: The Company has no marketable securities at September 30, 2024. Marketable securities December 31, 2023 consisted of marketable fixed income securities, primarily corporate bonds which are categorized as available for sale securities and are thus marked to market and stated at fair value in accordance with Accounting Standards Codification ("ASC") 820 Fair Value Measurement . These investments are considered Level 1 and Level 2 investments within the ASC 820 fair value hierarchy. The fair value of Level 1 investments, including cash equivalents, money funds and U.S. government securities, are substantially based on quoted market prices in active markets. The fair value of corporate bonds is determined using standard market valuation methodologies, including discounted cash flows, matrix pricing and/or other similar techniques. The inputs to these valuation techniques include but are not limited to market interest rates, credit rating of the issuer or counterparty, industry sector of the issuer, coupon rate, call provisions, maturity, estimated duration and assumptions regarding liquidity and estimated future cash flows. In addition to bond characteristics, the valuation methodologies incorporate market data, such as actual trades completed, bids and actual dealer quotes, where such information is available. Accordingly, the estimated fair values are based on available market information and judgments about financial instruments categorized within Level 1 and Level 2 of the fair value hierarchy. Interest and dividends are recorded when earned. Realized gains and losses on investments are determined by specific identification and are recognized as incurred in the condensed statement of operations. Changes in net unrealized gains and losses are reported in other comprehensive loss and represent the change in the fair value of investment holdings during the reporting period. Changes in net unrealized losses were less than $ 0.1 million for the nine months ended September 30, 2024 and 2023, respectively. Accounts and grants receivable: Accounts and grants receivable include amounts due from customers, granting institutions and others. The amounts as of September 30, 2024 and December 31, 2023 are certain to be collected, and no amount has been recognized for expected credit losses. In addition, for the clinical trial revenue, most participants pay in advance of treatment. Advanced grant funds and prepayments for the clinical trial revenue are recorded to deferred revenue. Advance contract manufacturing payments are recorded to deferred revenue. Accounts and grants receivable by source, as of (in thousands): September 30, December 31, Accounts receivable from customers $ 321 $ 15 National Institutes of Health – Grant 59 96 Total $ 380 $ 111 Deferred offering costs: The Company recorded certain legal, professional and other third-party fees that were directly associated with in-process equity financings as deferred offering costs until the applicable equity financing was consummated. After consummation of an equity financing, these costs are recorded in stockholders’ equity as a reduction of proceeds generated as a result of the offering. Property and equipment: Property and equipment, including improvements that extend the useful lives of related assets, are recorded at cost, while maintenance and repairs are charged to operations as incurred. Depreciation is calculated using the straight-line method based on the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the estimated useful life of the asset or the original term of the lease. Depreciation expense is recorded in the research and development line of the condensed statements of operations as the assets are primarily related to the Company’s clinical programs. Intangible assets: Intangible assets include payments on license agreements with the Company’s co-founder and Chief Scientific Officer (“CSO”) and the University of Miami (“UM”) (see Note 9) and legal costs incurred related to patents and trademarks. License agreements have been recorded at the value of cash consideration, common stock and membership units transferred to the respective parties when acquired. Payments for license agreements are amortized using the straight-line method over the estimated term of the agreements, which range from 5 - 20 years. Patents are amortized over their estimated useful life, once issued. The Company considers trademarks to have an indefinite useful life and evaluates them for impairment on an annual basis. Amortization expense is recorded in the research and development line of the condensed statements of operations as the assets are primarily related to the Company’s clinical programs. Impairment of Long-Lived Assets: The Company evaluates long-lived assets for impairment, including property and equipment and intangible assets, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value. Any resulting impairment loss is reflected in the condensed statements of operations. Upon evaluation, management determined that there was no impairment of long-lived assets during the three and nine months ended September 30, 2024 and 2023 . Deferred revenue: The unearned portion of advanced grant funds and prepayments for clinical trial and contract manufacturing revenues, which will be recognized as revenue when the Company meets the respective performance obligations, has been presented as deferred revenue in the accompanying condensed balance sheets. For the nine months ended September 30, 2024 and 2023 , the Company recognized less than $ 0.1 million, respectively, of funds that were previously classified as deferred revenue. Due to the Maryland Stem Cell Research Fund ("MSCRF") – Technology Development Corporation (“TEDCO”) – grant Acute Respiratory Distress Syndrome (“ARDS”) program being discontinued, $ 0.4 million recorded as deferred revenue was reversed when the funds were returned to MSCRF – TEDCO. As of September 30, 2024 and December 31, 2023 , the Company had $ 0.1 million and $ 0.5 million, respectively, recorded in deferred revenue on the condensed balance sheets. Revenue recognition: The Company recognizes revenue when performance obligations related to respective revenue streams are met. For grant revenue, the Company considers the performance obligation met when the grant related expenses are incurred or supplies and materials are received. The Company is paid in tranches pursuant to terms of the related grant agreements, and then applies payments based on regular expense reimbursement submissions to grantors. There are no remaining performance obligations or variable consideration once grant expense reporting to the grantor is complete. For clinical trial revenue, the Company considers the performance obligation met when the participant has received the treatment. The Company usually receives prepayment for these services or receives payment at the time the treatment is provided, and there are no remaining performance obligations or variable consideration once the participant receives the treatment. For contract manufacturing revenue, the Company considers the performance obligation met when the contractual obligation and/or statement of work has been satisfied. Payment terms may vary depending on specific contract terms. There are no significant judgments affecting the determination of the amount and timing of revenue recognition. Revenue by source (in thousands): Three months ended Nine months ended 2024 2023 2024 2023 Clinical trial revenue $ 210 $ 150 $ 1,012 $ 605 Contract manufacturing 563 - 777 - NIH - grant - - - 41 Total $ 773 $ 150 $ 1,789 $ 646 The Company records cost of revenues based on expenses directly related to revenue. For grants, the Company records allocated expenses for research and development costs to a grant as a cost of revenues. For the clinical trial revenue, directly related expenses for that program are expensed as incurred. These expenses are similar to those described under “Research and development expense” below. For the contract manufacturing, the Company records costs incurred under the contract as cost of revenues. Research and development expense: Research and development costs are charged to expense when incurred in accordance with ASC 730 Research and Development . ASC 730 addresses the proper accounting and reporting for research and development costs. It identifies: 1) those activities that should be identified as research and development; 2) the elements of costs that should be identified with research and development activities, and the accounting for these costs; and 3) the financial statement disclosures related to them. Research and development costs include costs such as clinical trial expenses, contracted research and license agreement fees with no alternative future use, supplies and materials, salaries, share-based compensation, employee benefits, property and equipment depreciation and allocation of various corporate costs. The Company accrues for costs incurred by external service providers, including contract research organizations and clinical investigators, based on its estimates of service performed and costs incurred. These estimates include the level of services performed by the third parties, patient enrollment in clinical trials, administrative costs incurred by the third parties, and other indicators of the services completed. Based on the timing of amounts invoiced by service providers, the Company may also record payments made to those providers as prepaid expenses that will be recognized as expenses in future periods as the related services are rendered. Concentrations of credit risk: Financial instruments which potentially subject the Company to credit risk consist principally of cash and cash equivalents, marketable securities and accounts and grants receivable. Cash and cash equivalents are held in U.S. financial institutions. At times, the Company may maintain balances in excess of the federally insured amounts. Income taxes: The Company’s tax provision consists of taxes currently payable or receivable, plus any change during the period in deferred tax assets and liabilities. The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. The Company’s tax provision was $ 0 for the three and nine months ended September 30, 2024 and 2023 due to net operating losses. The Company has not recorded any tax benefit for the net operating losses incurred due to the offset created by the Company’s valuation allowance. The Company recognizes the tax benefits from uncertain tax positions that the Company has taken or expects to take on a tax return. In the unlikely event an uncertain tax position exists in which the Company could incur income taxes, the Company would evaluate whether there is a probability that the uncertain tax position taken would be sustained upon examination by a taxing authority. Reserves for uncertain tax positions would then be recorded if the Company determined it is probable that either a position would not be sustained upon examination, or a payment would have to be made to a taxing authority and the amount was reasonably estimable. As of September 30, 2024 and December 31, 2023 , the Company does not believe it has any uncertain tax positions that would result in the Company having a liability to a taxing authority. It is the Company’s policy to expense any interest and penalties associated with its tax obligations when they are probable and estimable. Equity-based compensation: The Company accounts for equity-based compensation expense by the measurement and recognition of compensation expense for stock-based awards based on estimated fair values on the date of grant. The fair value of the stock options is estimated at the date of the grant using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires the input of highly subjective assumptions, the most significant of which are the expected share price volatility, the expected life of the stock option award, the risk-free rate of return, and dividends during the expected term. Because the option-pricing model is sensitive to changes in the input assumptions, different determinations of the required inputs may result in different fair value estimates of the stock options. Neither the Company’s stock options nor its restricted stock units (“RSUs”) trade on an active market. Volatility is a measure of the amount by which a financial variable, such as a stock price, has fluctuated (historical volatility) or is expected to fluctuate (expected volatility) during a period. Given the Company’s limited historical data, the Company utilizes the average historical volatility of similar publicly traded companies that are in the same industry. The risk-free interest rate is the average U.S. treasury rate (having a term that most closely approximates the expected life of the option) for the period in which the stock option was granted. The expected life is the period of time that the stock options granted are expected to remain outstanding. Stock options granted have a maximum term of ten years . The Company has insufficient historical data to utilize in determining its expected life assumptions and, therefore, uses the simplified method for determining expected life. The Company accounts for the cost of services performed by vendors in exchange for an award of stock options based on the grant-date fair value of the award. The Company recognizes the expense consistent with the contractual vesting period and in the same manner as if the Company had paid cash for the services.

Marketable Securities

Marketable Securities	9 Months Ended
	Sep. 30, 2024
Marketable Securities [Abstract]
Marketable securities	3. Marketable securities The following is summary of marketable securities that the Company measures at fair value (in thousands): Fair Value at September 30, 2024 Level 1 Level 2 Level 3 Total Money market funds (1) $ 6,799 $ - $ - $ 6,799 Accrued income 26 - - 26 Total marketable securities $ 6,825 $ - $ - $ 6,825 (1) Money market funds are included in cash and cash equivalents in the condensed balance sheets. Fair Value at December 31, 2023 Level 1 Level 2 Level 3 Total Corporate bonds $ - $ 412 $ - $ 412 Money market funds (1) 3,948 - - 3,948 Accrued income 16 - - 16 Total marketable securities $ 3,964 $ 412 $ - $ 4,376 (1) Money market funds are included in cash and cash equivalents in the condensed balance sheets. As of September 30, 2024 and December 31, 2023 , the Company reported accrued interest receivable related to marketable securities of less than $ 0.1 million. These amounts are recorded in other assets on the condensed balance sheets and are not included in the carrying value of the marketable securities.

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2024
Property and Equipment, Net [Abstract]
Property and equipment, net	4. Property and equipment, net Major components of property and equipment are as follows (in thousands): Useful Lives September 30, December 31, Leasehold improvements 10 years $ 4,398 $ 4,328 Furniture/Lab equipment 7 years 3,054 2,483 Computer equipment 5 years 120 120 Software/Website 3 years 38 38 Total property and equipment 7,610 6,969 Less accumulated depreciation 4,988 4,440 Property and equipment, net $ 2,622 $ 2,529 Depreciation expense amounted to approximately $ 0.2 million for the three-month periods ended September 30, 2024 and 2023, and $ 0.5 million for the nine months ended September 30, 2024 and 2023 .

Intangible Assets, Net

Intangible Assets, Net	9 Months Ended
	Sep. 30, 2024
Intangible Assets, Net [Abstract]
Intangible assets, net	5. Intangible assets, net Major components of intangible assets as of September 30, 2024, are as follows (in thousands): Useful Lives Cost Accumulated Total License agreements 20 years $ 2,043 $ ( 1,076 ) $ 967 Patent costs 1,170 - 1,170 Trademark costs 210 - 210 Total $ 3,423 $ ( 1,076 ) $ 2,347 Major components of intangible assets as of December 31, 2023, are as follows (in thousands): Useful Lives Cost Accumulated Total License agreements 20 years $ 2,043 $ ( 909 ) $ 1,134 Patent costs 959 - 959 Trademark costs 194 - 194 Total $ 3,196 $ ( 909 ) $ 2,287 Amortization expense related to intangible assets amounted to approximately $ 0.1 million and $ 0.2 million for each of the three and nine month periods ended September 30, 2024 and 2023. Future amortization expense for intangible assets as of September 30, 2024 is as follows (in thousands): Years Ending December 31, Amount 2024 (remaining three months) $ 56 2025 224 2026 224 2027 224 2028 224 Thereafter 15 Total $ 967

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	6. Leases The Company records a right-of-use operating lease asset and a lease liability related to its operating leases (there are no finance leases). The Company’s corporate office lease expires in March 2027. As of September 30, 2024 , the operating lease asset and lease liability were approximately $ 1.0 million and $ 1.6 million, respectively. As of December 31, 2023 , the operating lease asset and lease liability were approximately $ 1.2 million and $ 2.0 million, respectively. Future minimum payments under the operating leases as of September 30, 2024, are as follows (in thousands): Years Ending December 31, Amount 2024 (remaining three months) $ 170 2025 682 2026 682 2027 170 Total 1,704 Less: Interest 105 Present value of operating lease liability $ 1,599 During each of the three months ended September 30, 2024 and 2023 , the Company incurred approximately $ 0.2 million of total lease costs and for the nine month periods ended September 30, 2024 and 2023, the Company incurred approximately $ 0.6 million and $ 0.7 million of total lease costs, respectively, that are included in the general and administrative expenses in the condensed statements of operations.

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 2024
Stockholders’ Equity [Abstract]
Stockholders’ Equity	7. Stockholders’ Equity Class A Common Stock RSUs are taxable upon vesting based on the market value on the date of vesting. The Company is required to make mandatory tax withholding for the payment and satisfaction of income tax, social security tax, payroll tax, or payment on account of other tax related to withholding obligations that arise by reason of vesting of an RSU. The taxable income is calculated by multiplying the number of vested RSUs for each individual by the closing share price as of the vesting date and a tax liability is calculated based on each individual’s tax bracket. The shares withheld are available for reissuance pursuant to the Company’s Second Amended and Restated 2021 Incentive Award Plan (the “Equity Plan”). During the nine months ended September 30, 2024 , no stock options were exercised for Class A common stock shares. Class B Common Stock Holders of Class A common stock generally have rights identical to holders of Class B common stock, except that holders of Class A common stock are entitled to one (1) vote per share and holders of Class B common stock are entitled to five (5) votes per share. The holders of Class B common stock may convert each share of Class B common stock into one share of Class A common stock at any time at the holder’s option. Class B common stock is not publicly tradable. During the nine months ended September 30, 2024 , stockholders converted 1,555 shares of Class B common stock into 1,555 shares of Class A common stock. During the year ended December 31, 2023 , stockholders converted 3,555 shares of Class B common stock into 3,555 shares of Class A common stock. Warrants Summary of Warrant Issuances As part of the Company’s initial public offering (“IPO”), the underwriter received warrants to purchase up to 10,640 shares of Class A common stock. The warrants are exercisable at any time and from time to time, in whole or in part, during the four and a half-year period commencing August 12, 2021 , at a price of $ 120.00 per share and the fair value of warrants was approximately $ 0.5 million. During 2021, the underwriters assigned 9,576 of the warrants to its employees. As part of the Company’s 2021 private placement offering, the Company issued warrants to investors to purchase up to an aggregate of 116,935 shares of Class A common stock, equal to the number of shares of Class A common stock purchased by such investor in the offering, at an exercise price of $ 175.00 per share , which were immediately exercisable, were set to expire five years from the date of issuance, and had certain downward pricing adjustment mechanisms, subject to a floor, as set forth in greater detail therein (the “Purchaser Warrants”). In addition, the Company granted the underwriters warrants, under similar terms, to purchase 4,679 shares of Class A common stock, at an exercise price of $ 175.00 per share. On August 16, 2023, the Company announced its Stock Rights Offering, which triggered the downward pricing mechanism on the Purchaser Warrants, at which time these warrants were adjusted downward to an exercise price of $ 52.50 for the period remaining through expiration. This resulted in a deemed dividend to common stockholders of approximately $ 0.8 million for the change in the fair value of the warrants using a Black-Scholes pricing model. As part of an October 2023 registered direct offering, the Company issued Series A warrants and Series B warrants to purchase up to 242,425 and 242,425 , respectively, shares of Class A common stock. Each series of warrants had an exercise price of $ 16.50 per share, with the Series A warrants having a term of five and one-half (5.5) years from the date of issuance, and the Series B warrants having a term of eighteen (18) months from the date of issuance. Both the Series A and Series B warrants became exercisable as of December 26, 2023, following stockholder approval. In addition, the Company granted the placement agent warrants, under similar terms, to purchase 16,971 shares of Class A common stock, at an exercise price of $ 20.625 per share. In April 2024, the Series A Warrants and Series B Warrants were amended to reduce the exercise price to $ 2.35 per share . The Series A Warrants and Series B Warrants were subsequently exercised in full in April 2024. As part of a December 2023 registered direct offering, the Company issued warrants to purchase an aggregate of 135,531 shares of Class A common stock. These warrants have an exercise price of $ 16.20 per share, became immediately issuable upon issuance, and expire on June 22, 2029. In addition, the Company granted the placement agent warrants, under similar terms, to purchase 9,489 shares of Class A common stock, at an exercise price of $ 21.813 per share. On April 8, 2024, the Company commenced a public offering of up to 639,872 shares of the Company’s Class A common stock, along with pre-funded warrants to purchase up to an aggregate 1,572,894 shares of Class A common stock (the “Pre-Funded Warrants”). The shares and Pre-Funded Warrants were sold together with warrants to purchase up to an aggregate of 2,212,766 shares of Common Stock (the “Common Warrants”). The combined public offering price was $ 2.35 per share and related Common Warrant and $ 2.349 per Pre-Funded Warrant and related Common Warrant. Subject to certain limitations, the Pre-Funded Warrants were immediately exercisable and could be exercised at a nominal consideration of $ 0.001 per share of Class A common stock at any time until all of the Pre-Funded Warrants were exercised in full. The Common Warrants were immediately exercisable and expire on April 10, 2029 . As compensation to the placement agent the Company also issued to designees of the placement agent warrants to purchase up to 154,894 shares of Class A common stock, which had substantially the same terms as the Common Warrants, and with an exercise price of $ 2.9375 per share and a term of five years from the commencement of sales in the offering. In connection with the offering, the Company also entered into an agreement with a holder of existing warrants to amend the holder’s existing Series A warrants and Series B warrants to reduce the exercise price to $ 2.35 per share and (ii) amend the expiration date of the Series A Warrants to five and one-half ( 5.5 ) years following the closing of the public offering and the Series B warrants to eighteen ( 18 ) months following the closing of the public offering, in each case for a payment to the Company of $ 0.125 per amended warrant. On April 16, 2024, the Company entered into inducement letter agreements with certain holders of its existing Series A warrants and Series B warrants, and Common Warrants issued on April 10, 2024, whereby the holders agreed to exercise the warrants for cash at the exercise price of $ 2.35 per share in consideration for payment of $ 0.125 per new warrant and for the Company’s agreement to issue new unregistered Class A common stock warrants to purchase up to 4,799,488 shares of Class A common stock at an exercise price of $ 2.35 per share, and which were immediately exercisable upon issuance. The warrants to purchase up to 2,399,744 shares of Class A common stock (the “Series C Warrants”) have a term of five ( 5 ) years from the issuance date, and the warrants to purchase up to 2,399,744 shares of Class A common stock (the “Series D Warrants”) have a term of twenty-four ( 24 ) months from the issuance date, with all of the Series C Warrants and Series D Warrants being immediately exercisable. All of the Series D Warrants were exercised in June 2024, pursuant to ordinary course exercise as well as a subsequent inducement transaction. Additionally, the Company issued to the placement agent or its designees as compensation, warrants to purchase up to 167,982 shares of Class A common stock, equal to 7.0 % of the aggregate number of shares of Class A common stock issued upon exercise of the warrants pursuant to the inducement transaction, which had the same terms as the Series C Warrants, except that the placement agent warrants have an exercise price of $ 3.25 per share. Furthermore, upon exercise, if any, of the Series D Warrants for cash, the Company agreed to issue the placement agent or its designees, within five (5) business days of the Company’s receipt of the exercise price, warrants to purchase the number of shares of Class A common stock equal to 7.0 % of the aggregate number of shares underlying such Series D Warrants that have been exercised, with such warrants to be in the same form and terms as the prior placement agent warrants. On June 17, 2024, the Company entered into additional inducement letter agreements with the holders of its existing Series D Warrants to exercise the remaining 1,697,891 shares of Class A common stock underlying Series D Warrants that remained outstanding for cash at the exercise price of $ 2.35 per share in consideration for the Company’s agreement to issue new unregistered Class A common stock warrants (the "June Inducement Warrants"), for payment of $ 0.125 per new warrant, to purchase up to an aggregate of 3,395,782 shares of Class A common stock at an exercise price of $ 2.50 per share and which were immediately exercisable upon issuance and have a term of twenty-four ( 24 ) months from the issuance date. The Company also issued to the placement agent or its designees as compensation, (i) warrants to purchase up to 118,852 shares of Class A common stock, equal to 7.0 % of the aggregate number of shares of Class A common stock issued upon exercise of the warrants pursuant to the June inducement transaction and (ii) warrants to purchase up to an aggregate of 49,130 shares of Common Stock, equal to 7.0 % of the aggregate number of shares of Common Stock issued upon exercise of certain Series D warrants prior to the inducement transaction, which had substantially the same terms as the June Inducement Warrants, had an exercise price of $ 3.25 per share and $ 2.9375 per share, respectively (the "June placement agent warrants"). Upon exercise, if any, of the June Inducement Warrants for cash, the Company agreed to issue within five (5) business days to the placement agent or its designees, warrants to purchase the number of shares of Class A common stock equal to 7.0 % of the aggregate number of shares of Class A common stock underlying such June Inducement Warrants that have been exercised, with such warrants to be in the same form and terms as the June placement agent warrants. The issuance under the inducement offers represented $ 8.5 million in additional value provided to the investors, which was recorded as a deemed dividend to common stockholders. The June Inducement Warrants expire on June 18, 2026 . On July 10, 2024, a holder exercised Series C warrants for 50,000 shares of Class A common stock for cash (the “July Series C warrant exercise”). On July 10, 2024, certain holders of warrants issued in June of 2024 exercised warrants to purchase an aggregate of 150,000 shares of Class A common stock for cash (the “July 10 warrant exercise”). In addition, on July 17, 2024, we issued to the placement agent warrants to purchase up to 10,500 shares of Class A common stock, equal to 7.0 % of the aggregate number of shares of Class A common stock issued in the July 10 warrant exercise (the “first tranche July ordinary course placement agent warrants”). The first tranche July ordinary course placement agent warrants have substantially the same terms as the June placement agent warrants, except that the first tranche July ordinary course placement agent warrants (i) have an exercise price of $ 3.125 per share and (ii) expire July 17, 2026 . On July 17, 2024, a holder of the June Inducement Warrants exercised the same to purchase 2,319,186 shares of Class A common stock for cash (the “July 17 warrant exercise” and together with the July 10 warrant exercise and the July Series C warrant exercise, collectively, the “July warrant exercises”). Accordingly, on July 24, 2024, we issued to the placement agent warrants to purchase up to 162,344 shares of Class A common stock, equal to 7.0 % of the aggregate number of shares of Class A common stock issued in the July 17 warrant exercise (the “second tranche July ordinary course placement agent warrants”, and together with the first tranche July ordinary course placement agent warrants, the “July ordinary course placement agent warrants”, and collectively with the July offering placement agent warrants, the “July placement agent warrants”). The second tranche July ordinary course placement agent warrants have substantially the same terms as the first tranche July ordinary course placement agent warrants, except that the second tranche July ordinary course placement agent warrants expire July 24, 2026 . The gross proceeds to the Company from the July warrant exercises, inclusive of the payment consideration for such Series C warrants and June Inducement Warrants, were approximately $ 6.3 million, inclusive of the payment consideration for such warrants, before deducting placement agent fees payable by the Company. On July 18, 2024, we entered into a securities purchase agreement with institutional and accredited investors relating to the registered direct offering and sale of an aggregate of 2,236,026 shares of our Class A common stock at a purchase price of $ 4.025 per share of Class A common stock and associated warrant (the “July registered direct offering”). The securities issued in the July registered direct offering were offered pursuant to a prospectus supplement, dated July 18, 2024, and accompanying prospectus, in connection with a takedown from our shelf registration statement on Form S-3 (File No. 333-264142), which was declared effective by the SEC on April 14, 2022. In a concurrent private placement (the “July private placement” and together with the July registered direct offering, the “July offering”), we also sold unregistered Class A common stock warrants to purchase up to an aggregate of 2,236,026 shares of our Class A common stock (the “July private placement warrants”). The unregistered July private placement warrants have an exercise price of $ 3.90 per share, became exercisable on July 19, 2024, and expire on July 20, 2026 . In addition, the Company granted the placement agent warrants, under similar terms, to purchase 156,522 shares of Class A common stock, at an exercise price of $ 5.0313 (the “July offering placement agent warrants”). The gross proceeds to the Company from the July offering were approximately $ 9.0 million, before deducting placement agent fees and other offering expenses payable by the Company. On August 6, 2024, the Company filed a registration statement with the SEC on Form S-1 registering the resale of an aggregate of 2,565,392 shares of Class A common stock issuable upon exercise of certain warrants, of which (i) up to 2,236,026 shares are issuable upon the exercise of the July private placement warrants issued to the purchasers upon the closing of the July private placement; (ii) 156,522 shares are issuable upon exercise of the July offering placement agent warrants issued to Wainwright, or its designees, pursuant to the terms of the current engagement Letter with Wainwright; and (iii) 172,844 shares are issuable upon exercise of the July ordinary course placement agent warrants issued to Wainwright, or its designees, pursuant to the terms of a then-applicable engagement letter with Wainwright, in connection with previously exercised June Inducement Warrants. The Form S-1 was declared effective by the SEC on August 12, 2024. In September 2024, the Company entered into additional inducement letter agreements with certain holders of its existing Purchaser Warrants issued as part of the Company’s 2021 private placement offering to amend and reduce the exercise price of the Purchaser Warrants to $ 1.00 per share in consideration for the holders’ cash exercise of all Purchaser Warrants held by such holder on or before September 27, 2024. In connection with the September 2024 inducement transaction, Purchaser Warrants were exercised for 114,077 shares of Class A common stock, resulting in gross proceeds to the Company of $ 114,077 . Summary of Warrants Outstanding As of September 30, 2024, warrants exercisable for an aggregate of up to 6,805,526 shares of the Company’s Class A common stock remain outstanding. This includes: • IPO underwriter warrants exercisable for up to 5,536 shares of Class A common stock at an exercise price of $ 120.00 per share, which expire February 12, 2026 . • Purchaser Warrants issued in connection with the 2021 private placement offering exercisable for up to 2,858 shares of Class A common stock at an exercise price of $ 52.50 per share, which expire December 3, 2026 . • Underwriter warrants issued in connection with the 2021 private placement offering exercisable for up to 4,679 shares of Class A common stock at an exercise price of $ 175.00 per share, which expire December 1, 2026 . • Placement agent warrants issued in connection with the October 2023 registered direct offering exercisable for up to 16,971 shares of Class A common stock at an exercise price of $ 20.625 per share, which expire October 11, 2028 . • Investor warrants issued in connection with the December 2023 registered direct offering exercisable for up to 135,531 shares of Class A common stock at an exercise price of $ 16.20 per share, which expire June 22, 2029 . • Placement agent warrants issued in connection with the December 2023 registered direct offering exercisable for up to 9,489 shares of Class A common stock at an exercise price of $ 21.813 per share, which expire December 20, 2028 . • Common Warrants issued in connection with the April 2024 public offering exercisable for up to 297,872 shares of Class A common stock at an exercise price of $ 2.35 per share, which expire April 10, 2029 . • Placement agent warrants issued in connection with the April 2024 public offering exercisable for up to 154,894 shares of Class A common stock at an exercise price of $ 2.9375 per share, which expire April 8, 2029 . • Series C Warrants issued in connection with the April 2024 inducement transaction exercisable for up to 2,349,744 shares of Class A common stock at an exercise price of $ 2.35 per share, which expire April 18, 2029 . • Placement agent warrants issued in connection with the April 2024 inducement transaction exercisable for up to 167,982 shares of Class A common stock at an exercise price of $ 3.25 per share, which expire April 18, 2029 . • June placement agent warrants issued in the ordinary course prior to the June 2024 inducement transaction exercisable for up to 49,130 shares of Class A common stock at an exercise price of $ 2.9375 per share, which expire June 18, 2026 . • June Inducement Warrants exercisable for up to 926,596 shares of Class A common stock at an exercise price of $ 2.50 per share, which expire June 18, 2026 . • Placement agent warrants issued in connection with the June 2024 inducement transaction exercisable for up to 118,852 shares of Class A common stock at an exercise price of $ 3.25 per share, which expire June 18, 2026 . • First tranche July ordinary course placement agent warrants exercisable for up to 10,500 shares of Class A common stock at an exercise price of $ 3.125 per share, which expire July 17, 2026 . • Second tranche July ordinary course placement agent warrants exercisable for up to 162,344 shares of Class A common stock at an exercise price of $ 3.125 per share, which expire July 24, 2026 . • July private placement warrants exercisable for up to 2,236,026 shares of Class A common stock at an exercise price of $ 3.90 per share, which expire July 20, 2026 . • July offering placement agent warrants exercisable for up to 156,522 shares of Class A common stock at an exercise price of $ 5.0313 per share, which expire July 20, 2026 .

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2024
Equity-Based Compensation [Abstract]
Equity-based compensation	8. Equity-based compensation As part of the Company’s IPO, the Company adopted and approved the 2021 Incentive Award Plan, which has been subsequently amended and restated twice (as accordingly amended and restated, the “2021 Incentive Plan”). Under the 2021 Incentive Plan, the Company may grant cash and equity incentive awards to eligible service providers in order to attract, motivate and retain the talent for which the Company competes. RSUs As of September 30, 2024 and December 31, 2023 , the Company had 752,666 and 11,239 , respectively of RSUs outstanding (unvested). RSU activity for the nine months ended September 30, 2024, was as follows: Number of Outstanding (unvested) at December 31, 2023 11,239 RSU granted 1,235,324 RSUs vested ( 485,997 ) RSU expired/forfeited ( 7,900 ) Outstanding (unvested) at September 30, 2024 752,666 Stock Options Stock options may be granted under the 2021 Incentive Plan. The exercise price of stock options is equal to the fair market value of the Company’s Class A common stock as of the grant date. Stock options historically granted have generally become exercisable over four years and expire ten years from the date of grant. The 2021 Incentive Plan provides for equity grants to be granted up to 5 % of the outstanding common stock shares. As of September 30, 2024 , there have been 88,625 stock options granted during 2024 under the 2021 Incentive Plan. The fair value of the options issued during 2024 were estimated using the Black-Scholes option-pricing model and had the following assumptions: a dividend yield of 0 %; an expected life of 10 years ; volatility ranging from 79 %- 95 %; and risk-free interest rate based on the grant date ranging from of 3.79 % - 4.52 %. Each stock option grant made during 2024 will be expensed ratably over the option vesting periods, which approximates the service period. As of September 30, 2024 and December 31, 2023 , the Company has recorded issued and outstanding options to purchase a total of 121,186 and 43,786 shares of Class A common stock, respectively, pursuant to the 2021 Incentive Plan, at a weighted average exercise price of $ 15.09 and $ 49.60 per share, respectively. For the nine months ended September 30, 2024: Number of Stock options vested (based on ratable vesting) 21,143 Stock options unvested 100,043 Total stock options outstanding at September 30, 2024 121,186 For the year ended December 31, 2023: Number of Stock options vested (based on ratable vesting) 16,091 Stock options unvested 27,695 Total stock options outstanding at December 31, 2023 43,786 Stock option activity for the nine months ended September 30, 2024, was as follows: Number of Weighted Outstanding at December 31, 2023 43,786 $ 49.60 Options granted 88,625 2.46 Options exercised - - Options expired/forfeited ( 11,225 ) 50.20 Outstanding at September 30, 2024 121,186 $ 15.09 For the three months ended September 30, 2024 and 2023 , the equity-based compensation expense amounted to approximately $ 1.4 million and $ 0.5 million, respectively, and for the nine months ended September 30, 2024 and 2023 , the equity-based compensation expense amounted to approximately $ 1.9 million and $ 1.6 million, respectively, which is included in the research and development and general and administrative expenses in the condensed statements of operations for the three and nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024 , the remaining unrecognized RSUs compensation of approximately $ 1.4 million will be recognized over approximately 2.01 years. T he remaining unrecognized stock options compensation of approximately $ 0.4 million will be recognized over approximately 1.94 years. Share-based payments to third-party service provider In April 2024, the Company agreed to issue stock options to a third-party service provider for future services exercisable for up to 50,000 shares of Class A common stock at an exercise price of $ 2.15 , the grant date fair value, with the options vesting quarterly over 36 months. The Company recorded general and administrative expenses of less than $ 0.1 million for the three and nine months ended September 30, 2024 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Master Services Agreements: As of September 30, 2024, the Company terminated its active master services agreements with third parties that were previously engaged to conduct its clinical trials and manage clinical research programs and clinical development services. This termination was due to the Company’s decision in April 2024 to discontinue trial activities in Japan. Consulting Services Agreement: On November 20, 2014, the Company entered into a ten-year consulting services agreement with Dr. Joshua Hare, its CSO. Under the agreement, the Company has agreed to pay the CSO $ 265,000 annually. The compensation payments are for scientific knowledge, medical research, technical knowledge, skills, and abilities to be provided by the CSO to further develop the intellectual property rights assigned by the CSO to the Company. This agreement requires the CSO to also assign to the Company the exclusive right, title, and interest in any work product developed from his efforts during the term of this agreement. On November 16, 2022, the Company accounted for but had not issued 4,814 RSUs convertible to unregistered shares of Class A common stock, with an aggregate value of $ 0.2 million as payment for accrued expenses under the consulting agreement with the CSO. These shares were issued on May 24, 2023. As of September 30, 2024 and December 31, 2023 , the Company had accrued balances due to the CSO of approximately $ 0.1 million and $ 0.1 million, respectively, which are included in accrued expenses and an additional less than $ 0.1 million and $ 0.1 million, respectively, which are included in accounts payable in the accompanying condensed balance sheets. The Company entered into a deferred compensation agreement with the CSO to defer payment of the consulting fees earned for services rendered during 2024. The 2024 consulting fees will be paid in the form of a lump sum distribution in February 2027. As of September 30, 2024 , the Company had an accrued balance of $ 0.2 million which are included in other long-term liabilities in the accompanying condensed balance sheets. Technology Services Agreement: On March 27, 2015, the Company entered into a technology services agreement with Optimal Networks, Inc. (a related company owned by Dr. Joshua Hare’s brother-in-law) for use of information technology services. The technology services agreement was terminated as of April 14, 2023. As of September 30, 2024 and December 31, 2023 , the Company owed $ 0 pursuant to this agreement. Manufacturing Services Agreement : On February 21, 2024, the Company entered into a five-year Supply Agreement with Secretome Therapeutics, Inc. (“Secretome”), a biotechnology company developing multiple, novel secretomes to address a spectrum of diseases driven by pathological processes , to manufacture, test, release, and supply Secretome with cardiac stem cells (the “Product”) to be used in Phase 1 and Phase 2 clinical trials (the “Secretome Agreement”). The Company received an initial start-up payment of $ 242,000 upon signing of the Secretome Agreement, which was comprised of (a) technology transfer, documentation preparation, training, and testing costs of $ 210,000 , (b) a ten-hour prepayment of project management fees of $ 2,400 , and (c) a first month suite reservation fee of $ 30,000 . The Company will bill Secretome on a variable fee basis for quality control, in process, release, and stability testing service items. For each Product lot, Secretome will pay the Company $ 55,000 per lot as well as a $ 30,000 for each additional Product lot in excess of two initial “training run” lots. Secretome will also pay a $ 30,000 monthly manufacturing suite reservation fee to the Company as well as a $ 240 per hour hourly fee for project management services. Secretome has also agreed to compensate the Company for the value of all materials involved in manufacturing and quality control testing the Product, plus a 20 percent markup on these materials. For any outsourced testing, Secretome will be billed directly by the laboratory conducting the testing, plus a fee of $ 500 per batch payable to the Company. Furthermore, Secretome will pay the Company $ 2,000 monthly for storage of in process samples, vialed harvests for training, and in process samples for Product lots. The Company will receive certain variable payments related to product packing, handling and shipping, with a standard fee of $ 750 , with an increased fee of $ 1,500 for expedited or special hour service. Following the initial five-year term, the Secretome Agreement may be renewed for additional successive two-year terms upon the mutual written agreement of the parties. Either party may terminate the agreement for cause and upon notice in the event of a material breach, within (i) 30 days of an uncured material breach that is not a payment default or (ii) 10 days for an uncured payment default. The Secretome Agreement further provides that either party may terminate the agreement at any time upon 90 days’ notice to the other party. In addition, either party may terminate the agreement immediately in the event the other party seeks the protection of any bankruptcy court, becomes insolvent, makes an assignment for the benefit of creditors, or any debarment activity occurs with respect to that party. A force majeure provision also permits termination of the Secretome Agreement upon written notice to the other party as a result of a delay or interference of performance continuing for more than 60 days. For the three and nine months ended September 30, 2024, the Company has earned revenues of $ 0.6 million and $ 0.8 million under the Secretome Agreement, respectively. The Company is also a party to a Mutual Nondisclosure Agreement with Secretome, signed and effective as of October 24, 2023 (the “Nondisclosure Agreement”), by which both parties have agreed to maintain the strict confidentiality of, restrict access to, and not to disclose any intellectual property, trade secrets, business dealings, customers, operations, products, research, clinical data, or other competitively sensitive or proprietary confidential information shared between them, subject to certain customary carve-outs for disclosures pursuant to applicable law or filings with regulatory or governmental agencies including the SEC. The Nondisclosure Agreement has a term of ten years from the later of (i) the effective date of the Nondisclosure Agreement, (ii) the date of the last disclosure of information under the Secretome Agreement, any “Quality Agreement” which may be entered into between the parties, or any scope of work; or (iii) the expiration of any patents issued arising out of or resulting from the confidential information. The Nondisclosure Agreement will not terminate with respect to trade secrets. Exclusive Licensing Agreements: UM Agreement On November 20, 2014, the Company entered into an Exclusive License Agreement with UM (the “UM License”) for the use of certain Aging-related Frailty Mesenchymal Stem Cell (“MSC”) technology rights developed by our CSO at UM. The UM License is a worldwide, exclusive license, with right to sublicense, with respect to any and all know-how specifically related to the development of the culture-expanded MSCs for Aging-related Frailty used at the Human-induced pluripotent stem cell-derived MSCs (“IMSCs”), all standard operating procedures used to create the IMSCs, and all data supporting isolation, culture, expansion, processing, cryopreservation and management of the IMSCs. The Company is required to pay UM (i) a license issue fee of $ 5,000 , (ii) a running royalty in an amount equal to three percent of annual net sales on products or services developed from the technology, payable on a country-by-country basis beginning on the date of first commercial sale through termination of the UM License Agreement, and which may be reduced to the extent we are required to pay royalties to a third party for the same product or process, (iii) escalating annual cash payments of up to $ 50,000 , subject to offset. The agreement extends for up to 20 years from the last date a product or process is commercialized from the technology and was amended in 2017 to modify certain milestone completion dates as detailed below. In 2021 the license fee was increased by an additional $ 100,000 , to defray patent costs. In addition, the Company issued 11,039 unregistered shares of Class A common stock to UM. The milestone payment amendments shifted the triggering payments to three payments of $ 500,000 , to be paid within six months of: (a) the completion of the first Phase 3 clinical trial of the products (based upon the final data unblinding); (b) the receipt by the Company of approval for the first new drug application (“NDA”), biologics application (“BLA”), or other marketing or licensing application for the product; and (c) the first sale following product approval. “Approval” refers to product approval, licensure, or other marketing authorization by the U.S. Food and Drug Administration, or any successor agency. The amendments also provided for the Company’s license of additional technology, to the extent not previously included in the UM License and granted the Company an exclusive option to obtain an exclusive license for (a) the HLHS investigational new drug application (“IND”) with ckit+ cells; and (b) UMP-438 titled “Method of Determining Responsiveness to Cell Therapy in Dilated Cardiomyopathy.” The Company has the right to terminate the UM License upon 60 days’ prior written notice, and either party has the right to terminate upon a breach of the UM License. To date, the Company has made payments totaling $ 365,000 to UM, and as of September 30, 2024 and December 31, 2023 , the Company had accrued $ 37,500 and $ 50,000 in milestone fees payable to UM, respectively, and $ 10,000 and $ 15,000 , respectively, for patent related reimbursements based on the estimated progress to date. The Company also entered into an additional Exclusive License Agreement with UM, signed and effective as of July 18, 2024, for technology rights developed by our CSO at UM. This License is a worldwide, exclusive license, with right to sublicense, with respect to any and all know-how, SOPs, data and other all other rights related to UMP-144, entitled “A method to derive GHRHR+ cardiomyogenic cells from pluripotent stem cells (PSCs) for therapeutic and pharmacologic applications” and having inventors Joshua Hare and Konstantinos Chatzistergos. UM retained a non-exclusive, royalty-free, perpetual, irrevocable, worldwide right to practice, make, and use the Patent Rights or Technology for any non-profit purposes, including educational, and research purposes. Pursuant to the terms of the license agreement, Longeveron must pay to UM: (a) $ 5,000 within 30 days of the Effective Date; and (b) reimbursement of $ 21,307 within 90 days of the Effective Date for previously incurred patent expenses; and (c) an annual $ 10,000 fee which is both creditable against other royalty payments for the applicable license year and is waived so long as Company is current on annual fee payments in accordance with the Exclusive License Agreement entered into November 20, 2014 between Company and UM. In addition to certain those certain other royalty payments that would be due should the Company’s sublicense of the technology result in revenue, Longeveron also agreed to the following additional milestones and payments: (c) $ 150,000 upon completion of the first Phase 3 Clinical Trial; and (d) $ 250,000 upon issuance of a biologics license application or new drug application based on the licensed technology. The Company has the right to terminate the new UM License for convenience upon 90 days’ prior written notice, and both parties have additional termination rights for material breach of the agreement. To date, the Company has made payments totaling $ 5,000 to UM, and as of September 30, 2024, the Company had not yet accrued any milestone fees payable to UM. CD271 On December 22, 2016, the Company entered into an exclusive license agreement with an affiliated entity of Dr. Joshua Hare, JMH MD Holdings, LLC (“JMHMD”), for the use of CD271 cellular therapy technology. The Company recorded the value of the cash consideration and membership units issued to obtain this license agreement as an intangible asset. The Company is required to pay as a royalty 1 % of the annual net sales of the licensed product(s) used, leased, or sold by or for the licensee or its sub-licensees. If the Company sublicenses the technology, it is also required to pay an amount equal to 10 % of the net sales of the sub-licensees. In addition, on December 23, 2016, as required by the license agreement, the Company paid an initial fee of $ 250,000 to JMHMD, and issued to it 10,000 Series C Units, valued at $ 250,000 . The $ 0.5 million of value provided to JMHMD for the license agreement, along with professional fees of approximately $ 27,000 , were recorded as an intangible asset that is amortized over the life of the license agreement which was defined as 20 years. Further, expenses related to the furtherance of the CD271+ technology are being capitalized and amortized as incurred over 20 years. There were no license fees due for September 30, 2024 and December 31, 2023 pertaining to this agreement. Other Royalty Under the grant award agreement with the Alzheimer’s Association, the Company may be required to make revenue sharing or distribution of revenue payments for products or inventions generated or resulting from this clinical trial program. The potential payments, although not currently defined, could result in a maximum payment of five times (5x) the award amount of $ 3.0 million. Contingencies – Legal From time to time, the Company could become involved in disputes and various litigation matters that arise in the normal course of business. These may include disputes and lawsuits related to intellectual property, licensing, contract law and employee relations matters. As of September 30, 2024 , the Company is not aware of any legal proceedings or material developments requiring disclosure.

Employee Benefits Plan

Employee Benefits Plan	9 Months Ended
	Sep. 30, 2024
Employee Benefits Plan [Abstract]
Employee Benefits Plan	10. Employee Benefits Plan The Company sponsors a defined contribution employee benefit plan (the “Plan”) under the provisions of Section 401(k) of the Internal Revenue Code. The Plan covers substantially all full-time employees of the Company who are eligible upon date of hire. Contributions to the Plan by the Company are at the discretion of the Board of Directors. The Company contributed approximately $ 0.1 million to the Plan during both of the nine months ended September 30, 2024 and 2023 , and less than $ 0.1 million to the Plan during the three months ended September 30, 2024 and 2023 , respectively.

Loss Per Share

Loss Per Share	9 Months Ended
	Sep. 30, 2024
Loss Per Share [Abstract]
Loss Per Share	11. Loss Per Share Basic and diluted net loss per share have been computed using the weighted-average number of shares of common stock outstanding during the period. We have outstanding stock-based awards that are not used in the calculation of diluted net loss per share because to do so would be anti-dilutive. The following instruments (in thousands) were excluded from the calculation of diluted net loss per share because their effects would be antidilutive: Nine months ended 2024 2023 RSUs 753 123 PSUs – 125 Stock options 121 381 Warrants 6,806 1,271 Total 7,680 1,900

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events In October 2024, the Company entered into additional inducement letter agreements with the remaining holders of its existing Purchaser Warrants issued as part of the Company’s 2021 private placement offering to amend and reduce the exercise price of the Purchaser Warrants to $ 1.00 per share in consideration for the holders’ cash exercise of all Purchaser Warrants held by such holder. In connection with the October 2024 inducement transaction, Purchaser Warrants were exercised for 2,858 shares of Class A common stock. As of the date of this Quarterly Report on Form 10-Q, the Purchaser Warrants have been exercised in full.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Basis of presentation	Basis of presentation: The condensed financial statements of the Company were prepared in accordance with U.S. GAAP. Certain reclassifications have been made to prior year condensed financial statements to conform to classifications used in the current year. These reclassifications had no impact on net loss, stockholders’ equity or cash flows as previously reported.
Reverse Stock Split	Reverse Stock Split: On March 26, 2024, the Company effected a reverse stock split of the outstanding shares of its Class A common stock and Class B common stock on a one-for-10 (1:10) basis (the “Reverse Stock Split”). The Reverse Stock Split became effective at 11:59 p.m. Eastern Time on March 26, 2024 via a certificate of amendment to the Company’s Certificate of Incorporation filed with the Secretary of State of the State of Delaware. At the effective time of the Reverse Stock Split, every 10 shares of the Company’s Class A common stock and Class B common stock, whether issued and outstanding or held by the Company as treasury stock, were automatically combined and converted (without any further act) into one fully paid and nonassessable share of Class A common stock or Class B common stock, respectively, subject to rounding up of fractional shares to the nearest whole number of shares resulting from the Reverse Stock Split without any change in the par value per share. All share, per share, option, warrant, equity award, and other derivative security numbers and exercise prices appearing in this Quarterly Report on Form 10-Q and the accompanying condensed financial statements have been adjusted to give effect to the Reverse Stock Split for all prior periods presented. However, the Company’s annual, other periodic, and current reports, and all other information and documents incorporated by reference into this Quarterly Report on Form 10-Q that were filed prior to March 19, 2024, do not give effect to the Reverse Stock Split.
Use of estimates	Use of estimates: The presentation of condensed financial statements in conformity with U.S. 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 condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Accounting Standard Updates	Accounting Standard Updates: A variety of proposed or otherwise potential accounting standards are currently under consideration by standard-setting organizations and certain regulatory agencies. Because of the tentative and preliminary nature of such proposed standards, management has not yet determined the effect, if any, that the implementation of such proposed standards would have on the Company’s condensed financial statements. In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Improvements to Income Tax Disclosures”. The amendments in this ASU change disclosure requirements for various items, including effective tax rate reconciliations and cash taxes paid. This ASU is effective for public companies for the financial reporting periods beginning on January 1, 2025, with early adoption permitted. The Company has not adopted ASU 2023-09 for its financial reporting period ending December 31, 2023, and will continue to evaluate early adoption for its financial reporting period ending December 31, 2024. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, "Improvements to Reportable Segment Disclosures". The amendments in this ASU are intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and by extending the disclosure requirements to entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. ASU 2023-07 is to be applied retrospectively to all prior periods presented in the financial statements. ASU 2023-07 will be effective for the Company for the annual period of its fiscal year ending December 31, 2024. The Company does not anticipate the adoption of this ASU will have a material impact on its consolidated financial statements.
Cash and cash equivalents	Cash and cash equivalents: The Company considers cash to consist of cash on hand and temporary investments having an original maturity of 90 days or less that are readily convertible into cash.
Marketable securities	Marketable securities: The Company has no marketable securities at September 30, 2024. Marketable securities December 31, 2023 consisted of marketable fixed income securities, primarily corporate bonds which are categorized as available for sale securities and are thus marked to market and stated at fair value in accordance with Accounting Standards Codification ("ASC") 820 Fair Value Measurement . These investments are considered Level 1 and Level 2 investments within the ASC 820 fair value hierarchy. The fair value of Level 1 investments, including cash equivalents, money funds and U.S. government securities, are substantially based on quoted market prices in active markets. The fair value of corporate bonds is determined using standard market valuation methodologies, including discounted cash flows, matrix pricing and/or other similar techniques. The inputs to these valuation techniques include but are not limited to market interest rates, credit rating of the issuer or counterparty, industry sector of the issuer, coupon rate, call provisions, maturity, estimated duration and assumptions regarding liquidity and estimated future cash flows. In addition to bond characteristics, the valuation methodologies incorporate market data, such as actual trades completed, bids and actual dealer quotes, where such information is available. Accordingly, the estimated fair values are based on available market information and judgments about financial instruments categorized within Level 1 and Level 2 of the fair value hierarchy. Interest and dividends are recorded when earned. Realized gains and losses on investments are determined by specific identification and are recognized as incurred in the condensed statement of operations. Changes in net unrealized gains and losses are reported in other comprehensive loss and represent the change in the fair value of investment holdings during the reporting period. Changes in net unrealized losses were less than $ 0.1 million for the nine months ended September 30, 2024 and 2023, respectively.
Accounts and grants receivable	Accounts and grants receivable: Accounts and grants receivable include amounts due from customers, granting institutions and others. The amounts as of September 30, 2024 and December 31, 2023 are certain to be collected, and no amount has been recognized for expected credit losses. In addition, for the clinical trial revenue, most participants pay in advance of treatment. Advanced grant funds and prepayments for the clinical trial revenue are recorded to deferred revenue. Advance contract manufacturing payments are recorded to deferred revenue. Accounts and grants receivable by source, as of (in thousands): September 30, December 31, Accounts receivable from customers $ 321 $ 15 National Institutes of Health – Grant 59 96 Total $ 380 $ 111
Deferred offering costs	Deferred offering costs: The Company recorded certain legal, professional and other third-party fees that were directly associated with in-process equity financings as deferred offering costs until the applicable equity financing was consummated. After consummation of an equity financing, these costs are recorded in stockholders’ equity as a reduction of proceeds generated as a result of the offering.
Property and equipment	Property and equipment: Property and equipment, including improvements that extend the useful lives of related assets, are recorded at cost, while maintenance and repairs are charged to operations as incurred. Depreciation is calculated using the straight-line method based on the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the estimated useful life of the asset or the original term of the lease. Depreciation expense is recorded in the research and development line of the condensed statements of operations as the assets are primarily related to the Company’s clinical programs.
Intangible assets	Intangible assets: Intangible assets include payments on license agreements with the Company’s co-founder and Chief Scientific Officer (“CSO”) and the University of Miami (“UM”) (see Note 9) and legal costs incurred related to patents and trademarks. License agreements have been recorded at the value of cash consideration, common stock and membership units transferred to the respective parties when acquired. Payments for license agreements are amortized using the straight-line method over the estimated term of the agreements, which range from 5 - 20 years. Patents are amortized over their estimated useful life, once issued. The Company considers trademarks to have an indefinite useful life and evaluates them for impairment on an annual basis. Amortization expense is recorded in the research and development line of the condensed statements of operations as the assets are primarily related to the Company’s clinical programs.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets: The Company evaluates long-lived assets for impairment, including property and equipment and intangible assets, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value. Any resulting impairment loss is reflected in the condensed statements of operations. Upon evaluation, management determined that there was no impairment of long-lived assets during the three and nine months ended September 30, 2024 and 2023 .
Deferred revenue	Deferred revenue: The unearned portion of advanced grant funds and prepayments for clinical trial and contract manufacturing revenues, which will be recognized as revenue when the Company meets the respective performance obligations, has been presented as deferred revenue in the accompanying condensed balance sheets. For the nine months ended September 30, 2024 and 2023 , the Company recognized less than $ 0.1 million, respectively, of funds that were previously classified as deferred revenue. Due to the Maryland Stem Cell Research Fund ("MSCRF") – Technology Development Corporation (“TEDCO”) – grant Acute Respiratory Distress Syndrome (“ARDS”) program being discontinued, $ 0.4 million recorded as deferred revenue was reversed when the funds were returned to MSCRF – TEDCO. As of September 30, 2024 and December 31, 2023 , the Company had $ 0.1 million and $ 0.5 million, respectively, recorded in deferred revenue on the condensed balance sheets.
Revenue recognition	Revenue recognition: The Company recognizes revenue when performance obligations related to respective revenue streams are met. For grant revenue, the Company considers the performance obligation met when the grant related expenses are incurred or supplies and materials are received. The Company is paid in tranches pursuant to terms of the related grant agreements, and then applies payments based on regular expense reimbursement submissions to grantors. There are no remaining performance obligations or variable consideration once grant expense reporting to the grantor is complete. For clinical trial revenue, the Company considers the performance obligation met when the participant has received the treatment. The Company usually receives prepayment for these services or receives payment at the time the treatment is provided, and there are no remaining performance obligations or variable consideration once the participant receives the treatment. For contract manufacturing revenue, the Company considers the performance obligation met when the contractual obligation and/or statement of work has been satisfied. Payment terms may vary depending on specific contract terms. There are no significant judgments affecting the determination of the amount and timing of revenue recognition. Revenue by source (in thousands): Three months ended Nine months ended 2024 2023 2024 2023 Clinical trial revenue $ 210 $ 150 $ 1,012 $ 605 Contract manufacturing 563 - 777 - NIH - grant - - - 41 Total $ 773 $ 150 $ 1,789 $ 646 The Company records cost of revenues based on expenses directly related to revenue. For grants, the Company records allocated expenses for research and development costs to a grant as a cost of revenues. For the clinical trial revenue, directly related expenses for that program are expensed as incurred. These expenses are similar to those described under “Research and development expense” below. For the contract manufacturing, the Company records costs incurred under the contract as cost of revenues.
Research and development expense	Research and development expense: Research and development costs are charged to expense when incurred in accordance with ASC 730 Research and Development . ASC 730 addresses the proper accounting and reporting for research and development costs. It identifies: 1) those activities that should be identified as research and development; 2) the elements of costs that should be identified with research and development activities, and the accounting for these costs; and 3) the financial statement disclosures related to them. Research and development costs include costs such as clinical trial expenses, contracted research and license agreement fees with no alternative future use, supplies and materials, salaries, share-based compensation, employee benefits, property and equipment depreciation and allocation of various corporate costs. The Company accrues for costs incurred by external service providers, including contract research organizations and clinical investigators, based on its estimates of service performed and costs incurred. These estimates include the level of services performed by the third parties, patient enrollment in clinical trials, administrative costs incurred by the third parties, and other indicators of the services completed. Based on the timing of amounts invoiced by service providers, the Company may also record payments made to those providers as prepaid expenses that will be recognized as expenses in future periods as the related services are rendered.
Concentrations of credit risk	Concentrations of credit risk: Financial instruments which potentially subject the Company to credit risk consist principally of cash and cash equivalents, marketable securities and accounts and grants receivable. Cash and cash equivalents are held in U.S. financial institutions. At times, the Company may maintain balances in excess of the federally insured amounts.
Income taxes	Income taxes: The Company’s tax provision consists of taxes currently payable or receivable, plus any change during the period in deferred tax assets and liabilities. The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. The Company’s tax provision was $ 0 for the three and nine months ended September 30, 2024 and 2023 due to net operating losses. The Company has not recorded any tax benefit for the net operating losses incurred due to the offset created by the Company’s valuation allowance. The Company recognizes the tax benefits from uncertain tax positions that the Company has taken or expects to take on a tax return. In the unlikely event an uncertain tax position exists in which the Company could incur income taxes, the Company would evaluate whether there is a probability that the uncertain tax position taken would be sustained upon examination by a taxing authority. Reserves for uncertain tax positions would then be recorded if the Company determined it is probable that either a position would not be sustained upon examination, or a payment would have to be made to a taxing authority and the amount was reasonably estimable. As of September 30, 2024 and December 31, 2023 , the Company does not believe it has any uncertain tax positions that would result in the Company having a liability to a taxing authority. It is the Company’s policy to expense any interest and penalties associated with its tax obligations when they are probable and estimable.
Equity-based compensation	Equity-based compensation: The Company accounts for equity-based compensation expense by the measurement and recognition of compensation expense for stock-based awards based on estimated fair values on the date of grant. The fair value of the stock options is estimated at the date of the grant using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires the input of highly subjective assumptions, the most significant of which are the expected share price volatility, the expected life of the stock option award, the risk-free rate of return, and dividends during the expected term. Because the option-pricing model is sensitive to changes in the input assumptions, different determinations of the required inputs may result in different fair value estimates of the stock options. Neither the Company’s stock options nor its restricted stock units (“RSUs”) trade on an active market. Volatility is a measure of the amount by which a financial variable, such as a stock price, has fluctuated (historical volatility) or is expected to fluctuate (expected volatility) during a period. Given the Company’s limited historical data, the Company utilizes the average historical volatility of similar publicly traded companies that are in the same industry. The risk-free interest rate is the average U.S. treasury rate (having a term that most closely approximates the expected life of the option) for the period in which the stock option was granted. The expected life is the period of time that the stock options granted are expected to remain outstanding. Stock options granted have a maximum term of ten years . The Company has insufficient historical data to utilize in determining its expected life assumptions and, therefore, uses the simplified method for determining expected life. The Company accounts for the cost of services performed by vendors in exchange for an award of stock options based on the grant-date fair value of the award. The Company recognizes the expense consistent with the contractual vesting period and in the same manner as if the Company had paid cash for the services.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Schedule of Accounts and Grants Receivable	Accounts and grants receivable by source, as of (in thousands): September 30, December 31, Accounts receivable from customers $ 321 $ 15 National Institutes of Health – Grant 59 96 Total $ 380 $ 111
Schedule of Revenue	Revenue by source (in thousands): Three months ended Nine months ended 2024 2023 2024 2023 Clinical trial revenue $ 210 $ 150 $ 1,012 $ 605 Contract manufacturing 563 - 777 - NIH - grant - - - 41 Total $ 773 $ 150 $ 1,789 $ 646

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2024
Marketable Securities [Abstract]
Schedule of Marketable Securities	The following is summary of marketable securities that the Company measures at fair value (in thousands): Fair Value at September 30, 2024 Level 1 Level 2 Level 3 Total Money market funds (1) $ 6,799 $ - $ - $ 6,799 Accrued income 26 - - 26 Total marketable securities $ 6,825 $ - $ - $ 6,825 (1) Money market funds are included in cash and cash equivalents in the condensed balance sheets. Fair Value at December 31, 2023 Level 1 Level 2 Level 3 Total Corporate bonds $ - $ 412 $ - $ 412 Money market funds (1) 3,948 - - 3,948 Accrued income 16 - - 16 Total marketable securities $ 3,964 $ 412 $ - $ 4,376 (1) Money market funds are included in cash and cash equivalents in the condensed balance sheets.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2024
Property and Equipment, Net [Abstract]
Schedule of Major Components of Property and Equipment	Major components of property and equipment are as follows (in thousands): Useful Lives September 30, December 31, Leasehold improvements 10 years $ 4,398 $ 4,328 Furniture/Lab equipment 7 years 3,054 2,483 Computer equipment 5 years 120 120 Software/Website 3 years 38 38 Total property and equipment 7,610 6,969 Less accumulated depreciation 4,988 4,440 Property and equipment, net $ 2,622 $ 2,529

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2024
Intangible Assets, Net [Abstract]
Schedule of Major Components of Intangible Assets	Major components of intangible assets as of September 30, 2024, are as follows (in thousands): Useful Lives Cost Accumulated Total License agreements 20 years $ 2,043 $ ( 1,076 ) $ 967 Patent costs 1,170 - 1,170 Trademark costs 210 - 210 Total $ 3,423 $ ( 1,076 ) $ 2,347 Major components of intangible assets as of December 31, 2023, are as follows (in thousands): Useful Lives Cost Accumulated Total License agreements 20 years $ 2,043 $ ( 909 ) $ 1,134 Patent costs 959 - 959 Trademark costs 194 - 194 Total $ 3,196 $ ( 909 ) $ 2,287
Schedule of Future Amortization Expense for Intangible Assets	Future amortization expense for intangible assets as of September 30, 2024 is as follows (in thousands): Years Ending December 31, Amount 2024 (remaining three months) $ 56 2025 224 2026 224 2027 224 2028 224 Thereafter 15 Total $ 967

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of Future Minimum Payments Under the Operating Leases	Future minimum payments under the operating leases as of September 30, 2024, are as follows (in thousands): Years Ending December 31, Amount 2024 (remaining three months) $ 170 2025 682 2026 682 2027 170 Total 1,704 Less: Interest 105 Present value of operating lease liability $ 1,599

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Equity Securities, Restricted [Abstract]
Schedule of RSU Activity	RSU activity for the nine months ended September 30, 2024, was as follows: Number of Outstanding (unvested) at December 31, 2023 11,239 RSU granted 1,235,324 RSUs vested ( 485,997 ) RSU expired/forfeited ( 7,900 ) Outstanding (unvested) at September 30, 2024 752,666
Schedule of Issued and Outstanding Options	For the nine months ended September 30, 2024: Number of Stock options vested (based on ratable vesting) 21,143 Stock options unvested 100,043 Total stock options outstanding at September 30, 2024 121,186 For the year ended December 31, 2023: Number of Stock options vested (based on ratable vesting) 16,091 Stock options unvested 27,695 Total stock options outstanding at December 31, 2023 43,786
Schedule of Stock Option Activity	Stock option activity for the nine months ended September 30, 2024, was as follows: Number of Weighted Outstanding at December 31, 2023 43,786 $ 49.60 Options granted 88,625 2.46 Options exercised - - Options expired/forfeited ( 11,225 ) 50.20 Outstanding at September 30, 2024 121,186 $ 15.09

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Loss Per Share [Abstract]
Schedule of Diluted Net Loss per Share	The following instruments (in thousands) were excluded from the calculation of diluted net loss per share because their effects would be antidilutive: Nine months ended 2024 2023 RSUs 753 123 PSUs – 125 Stock options 121 381 Warrants 6,806 1,271 Total 7,680 1,900

Nature of Business, Basis of _2

Nature of Business, Basis of Presentation, and Liquidity - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Nature of Business, Basis of Presentation, and Liquidity [Abstract]
Net loss	$ (4,419)	$ (5,106)	$ (11,892)	$ (15,385)
Accumulated deficit	(105,525)		(105,525)		$ (84,984)
Cash and cash equivalents	$ 22,778		$ 22,778		$ 4,949

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Summary of Significant Accounting Policies [Line Items]
Marketable securities	$ 0		$ 0		$ 412,000
Net unrealized losses			100,000	$ 100,000
Deferred revenue	100,000		100,000		$ 500,000
Tax provision	0	$ 0	$ 0	0
Options granted maximum term			10 years
Finite-Lived Intangible Assets [Member]
Summary of Significant Accounting Policies [Line Items]
Deferred revenue	400,000		$ 400,000
Minimum [Member]
Summary of Significant Accounting Policies [Line Items]
Deferred revenue	$ 100,000	$ 100,000	$ 100,000	$ 100,000
Minimum [Member] | Finite-Lived Intangible Assets [Member]
Summary of Significant Accounting Policies [Line Items]
Intangible assets estimated useful life	5 years		5 years
Maximum [Member] | Finite-Lived Intangible Assets [Member]
Summary of Significant Accounting Policies [Line Items]
Intangible assets estimated useful life	20 years		20 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Accounts and Grants Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Accounts and Grants Receivable [Line Items]
Accounts and grants receivable	$ 380	$ 111
Accounts receivable from customers [Member]
Schedule of Accounts and Grants Receivable [Line Items]
Accounts and grants receivable	321	15
National Institutes of Health – Grant [Member]
Schedule of Accounts and Grants Receivable [Line Items]
Accounts and grants receivable	$ 59	$ 96

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Revenue [Line Items]
Total revenue	$ 773	$ 150	$ 1,789	$ 646
Clinical trial revenue [Member]
Schedule of Revenue [Line Items]
Total revenue	210	150	1,012	605
Contract manufacturing [Member]
Schedule of Revenue [Line Items]
Total revenue	563		777
NIH - grant [Member]
Schedule of Revenue [Line Items]
Total revenue				$ 41

Marketable Securities - Additio

Marketable Securities - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
Accrued interest receivable related to marketable securities	$ 0.1	$ 0.1

Marketable Securities - Schedul

Marketable Securities - Schedule of Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024		Dec. 31, 2023
Schedule of Marketable Securities [Line Items]
Marketable Securities	$ 6,825		$ 4,376
Level 1 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities	6,825		3,964
Level 2 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities			412
Level 3 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities
Corporate bonds [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities			412
Corporate bonds [Member] | Level 1 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities
Corporate bonds [Member] | Level 2 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities			412
Corporate bonds [Member] | Level 3 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities
Money market funds [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities	6,799	[1]	3,948	[2]
Money market funds [Member] | Level 1 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities	6,799	[1]	3,948	[2]
Money market funds [Member] | Level 2 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities
Money market funds [Member] | Level 3 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities
Accrued income [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities	26		16
Accrued income [Member] | Level 1 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities	26		16
Accrued income [Member] | Level 2 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities
Accrued income [Member] | Level 3 [Member]
Schedule of Marketable Securities [Line Items]
Marketable Securities
[1] Money market funds are included in cash and cash equivalents in the condensed balance sheets. Money market funds are included in cash and cash equivalents in the condensed balance sheets.

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property and Equipment, Net [Abstract]
Depreciation expense	$ 0.2	$ 0.2	$ 0.5	$ 0.5

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Major Components of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Major Components of Property and Equipment [Line Items]
Total Property and Equipment	$ 7,610	$ 6,969
Less accumulated depreciation	4,988	4,440
Property and equipment, net	$ 2,622	2,529
Leasehold Improvements [Member]
Schedule of Major Components of Property and Equipment [Line Items]
Property and Equipment, Useful Lives	10 years
Total Property and Equipment	$ 4,398	4,328
Furniture Lab Equipment [Member]
Schedule of Major Components of Property and Equipment [Line Items]
Property and Equipment, Useful Lives	7 years
Total Property and Equipment	$ 3,054	2,483
Computer Equipment [Member]
Schedule of Major Components of Property and Equipment [Line Items]
Property and Equipment, Useful Lives	5 years
Total Property and Equipment	$ 120	120
Software Website [Member]
Schedule of Major Components of Property and Equipment [Line Items]
Property and Equipment, Useful Lives	3 years
Total Property and Equipment	$ 38	$ 38

Intangible Assets, Net - Additi

Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Intangible Assets, Net [Abstract]
Amortization expense related to intangible assets	$ 0.1	$ 0.1	$ 0.2	$ 0.2

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Major Components of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Major Components of Intangible Assets [Line items]
Cost	$ 3,423	$ 3,196
Accumulated Amortization	(1,076)	(909)
Total	$ 2,347	$ 2,287
License agreements [Member]
Schedule of Major Components of Intangible Assets [Line items]
Useful Lives	20 years	20 years
Cost	$ 2,043	$ 2,043
Accumulated Amortization	(1,076)	(909)
Total	967	1,134
Patent costs [Member]
Schedule of Major Components of Intangible Assets [Line items]
Cost	1,170	959
Accumulated Amortization
Total	1,170	959
Trademark costs [Member]
Schedule of Major Components of Intangible Assets [Line items]
Cost	210	194
Accumulated Amortization
Total	$ 210	$ 194

Intangible Assets, Net - Sche_2

Intangible Assets, Net - Schedule of Future Amortization Expense for Intangible Assets (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Schedule of Future Amortization Expense for Intangible Assets [Abstract]
2024 (remaining three months)	$ 56
2025	224
2026	224
2027	224
2028	224
Thereafter	15
Total	$ 967

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Leases [Line Items]
Operating lease asset	$ 970		$ 970		$ 1,221
Operating lease liability	1,599		1,599
Lease costs	200	$ 200	600	$ 700
Minimum [Member]
Leases [Line Items]
Operating lease asset	1,000		1,000
Operating lease liability	$ 1,600		$ 1,600
Maximum [Member]
Leases [Line Items]
Operating lease asset					1,200
Operating lease liability					$ 2,000

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Payments Under the Operating Leases (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Schedule of Future Minimum Payments Under the Operating Leases [Abstract]
2024 (remaining three months)	$ 170
2025	682
2026	682
2027	170
Total	1,704
Less: Interest	105
Present value of operating lease liability	$ 1,599

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($)									1 Months Ended	3 Months Ended	9 Months Ended		12 Months Ended
	Jul. 24, 2024	Jul. 19, 2024	Jul. 18, 2024	Jul. 17, 2024	Jul. 10, 2024	Jun. 17, 2024	Apr. 16, 2024	Aug. 16, 2023	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Aug. 06, 2024	Apr. 08, 2024	Dec. 31, 2021
Stockholders’ Equity [Line Items]
Number of warrants outstanding														2,565,392
Exercise price (in Dollars per share)		$ 3.9
Exercise price (in Dollars per share)				$ 3.125					$ 15.09	$ 15.09	$ 15.09		$ 49.6
Expire date		Jul. 20, 2026		Jul. 24, 2026	Jul. 17, 2026
Warrant [Member]
Stockholders’ Equity [Line Items]
Warrants exercise price per share (in Dollars per share)							$ 2.35
Payment per warrant (in Dollars per share)											$ 0.125
Series B warrants [Member]
Stockholders’ Equity [Line Items]
Warrant term									18 months	18 months	18 months
Aggregate gross (in Dollars)											$ 9,000,000
Series A warrants [Member]
Stockholders’ Equity [Line Items]
Warrant term									5 years 6 months	5 years 6 months	5 years 6 months
Series A and Series B Warrants [Member]
Stockholders’ Equity [Line Items]
Warrants exercise price per share (in Dollars per share)									$ 2.35	$ 2.35	$ 2.35
Pre Funded Warrant [Member]
Stockholders’ Equity [Line Items]
Warrants exercise price per share (in Dollars per share)															$ 2.349
Common Warrants [Member]
Stockholders’ Equity [Line Items]
Warrants or rights exercisable date											Apr. 10, 2029
Warrants exercise price per share (in Dollars per share)									2.9375	2.9375	$ 2.9375				$ 2.35
Warrant term															5 years
Expire date											Apr. 10, 2029
Class A common stock warrants [Member]
Stockholders’ Equity [Line Items]
Payment per warrant (in Dollars per share)						$ 0.125
Series C warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares					50,000
Warrants exercise price per share (in Dollars per share)									3.25	3.25	$ 3.25
Warrant term							5 years
Series D Warrants [Member]
Stockholders’ Equity [Line Items]
Warrants exercise price per share (in Dollars per share)									2.9375	2.9375	$ 2.9375
Series C Warrants and Series D warrants [Member]
Stockholders’ Equity [Line Items]
Warrant term							24 months
June Inducement Warrants [Member]
Stockholders’ Equity [Line Items]
Deemed dividend to common stockholders (in Dollars)											$ 8,500,000
Expire date											Jun. 18, 2026
July Private Placement [Member]
Stockholders’ Equity [Line Items]
Number of warrants outstanding														2,236,026
July Offering Placement [Member]
Stockholders’ Equity [Line Items]
Number of warrants outstanding														156,522
July Ordinary Course Placement Agent [Member]
Stockholders’ Equity [Line Items]
Number of warrants outstanding														172,844
Black-Scholes pricing model [Member]
Stockholders’ Equity [Line Items]
Warrants exercise price per share (in Dollars per share)								$ 52.5
Fair value of warrants (in Dollars)								$ 800,000
Class A Common Stock [Member]
Stockholders’ Equity [Line Items]
Common stock voting rights											one
Stock options exercised											0
Warrants to purchase											10,640
Price per share (in Dollars per share)									$ 0.001	$ 0.001	$ 0.001		0.001
Warrants or rights exercisable date											Aug. 12, 2021
Warrant purchase shares					150,000	3,395,782			154,894	154,894	154,894
Number of warrants outstanding									6,805,526	6,805,526	6,805,526
Warrants exercise price per share (in Dollars per share)						$ 2.5
Warrant term						24 months			4 years 6 months	4 years 6 months	4 years 6 months
Percentage of aggregate number of shares	7%			7%							7%
Exercise price (in Dollars per share)											$ 5.0313
Reverse stock split	162,344				10,500
Aggregate shares			4.025
Share issued									156,522	156,522	156,522
Class A Common Stock [Member] | Warrant [Member]
Stockholders’ Equity [Line Items]
Price per share (in Dollars per share)									$ 120	$ 120	$ 120
Warrant purchase shares									118,852	118,852	118,852
Payment per warrant (in Dollars per share)							$ 0.125
Percentage of aggregate number of shares											7%
Class A Common Stock [Member] | Placement agent warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									167,982	167,982	167,982
Warrants exercise price per share (in Dollars per share)									$ 3.25	$ 3.25	$ 3.25
Percentage of aggregate number of shares											7%
Expire date											Apr. 18, 2029
Class A Common Stock [Member] | Pre Funded Warrant [Member]
Stockholders’ Equity [Line Items]
Price per share (in Dollars per share)															$ 0.001
Warrant purchase shares															1,572,894
Class A Common Stock [Member] | Class A common stock warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares							4,799,488
Warrants exercise price per share (in Dollars per share)							$ 2.35
Class A Common Stock [Member] | Series C warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares							2,399,744		2,349,744	2,349,744	2,349,744
Warrants exercise price per share (in Dollars per share)									$ 2.35	$ 2.35	$ 2.35
Expire date											Apr. 18, 2029
Class A Common Stock [Member] | Series D Warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares							2,399,744
Warrants exercise price per share (in Dollars per share)						$ 2.35			$ 3.25	$ 3.25	$ 3.25
Percentage of aggregate number of shares											7%
Exercise of remaining shares						1,697,891
Class A Common Stock [Member] | June Inducement Warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									926,596	926,596	926,596
Warrants exercise price per share (in Dollars per share)									$ 2.5	$ 2.5	$ 2.5
Expire date											Jun. 18, 2026
Class A Common Stock [Member] | June Placement Agent Warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									49,130	49,130	49,130
Warrants exercise price per share (in Dollars per share)									$ 2.9375	$ 2.9375	$ 2.9375
Expire date											Jun. 18, 2026
Class A Common Stock [Member] | Placement Agent Warrants June 2024 [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									118,852	118,852	118,852
Warrants exercise price per share (in Dollars per share)									$ 3.25	$ 3.25	$ 3.25
Expire date											Jun. 18, 2026
Class A Common Stock [Member] | July Private Placement [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									2,236,026	2,236,026	2,236,026
Warrants exercise price per share (in Dollars per share)									$ 3.9	$ 3.9	$ 3.9
Expire date											Jul. 20, 2026
Class A Common Stock [Member] | July Offering Placement [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									156,522	156,522	156,522
Warrants exercise price per share (in Dollars per share)									$ 5.0313	$ 5.0313	$ 5.0313
Expire date											Jul. 20, 2026
Class A Common Stock [Member] | First Tranche July Ordinary Course Placement Agent Warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									10,500	10,500	10,500
Warrants exercise price per share (in Dollars per share)									$ 3.125	$ 3.125	$ 3.125
Expire date											Jul. 17, 2026
Class A Common Stock [Member] | Second Tranche July Ordinary Course Placement Agent Warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									162,344	162,344	162,344
Warrants exercise price per share (in Dollars per share)									$ 3.125	$ 3.125	$ 3.125
Expire date											Jul. 24, 2026
Class B Common Stock [Member]
Stockholders’ Equity [Line Items]
Common stock voting rights											five
Price per share (in Dollars per share)									$ 0.001	$ 0.001	$ 0.001		$ 0.001
Common Stock [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									49,130	49,130	49,130
Common Stock [Member] | Common Warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares															2,212,766
Common Stock [Member] | Series D Warrants [Member]
Stockholders’ Equity [Line Items]
Percentage of aggregate number of shares											7%
Common Stock [Member] | Class A Common Stock [Member]
Stockholders’ Equity [Line Items]
Stock options exercised										2,633,263	7,432,751
Stockholders shares converted											1,555	3,555	3,555
Reverse stock split											66,970
Common Stock [Member] | Class B Common Stock [Member]
Stockholders’ Equity [Line Items]
Stockholders shares converted											(1,555)	(3,555)	3,555
Reverse stock split												6
Public offering [Member] | Class A Common Stock [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									500,000	500,000	500,000				639,872
Public offering [Member] | Class A Common Stock [Member] | Underwriters Warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									5,536	5,536	5,536
Warrants exercise price per share (in Dollars per share)									$ 120	$ 120	$ 120
Expire date											Feb. 12, 2026
Underwriters [Member] | Class A Common Stock [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares																9,576,000,000
2021 private placement offering [Member]
Stockholders’ Equity [Line Items]
Warrants exercise price per share (in Dollars per share)									$ 1	$ 1	$ 1
Warrant term									5 years	5 years	5 years
2021 private placement offering [Member] | Warrant [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									116,935	116,935	116,935
2021 private placement offering [Member] | Class A Common Stock [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									4,679	4,679	4,679
Warrants exercise price per share (in Dollars per share)									$ 175	$ 175	$ 175
Exercise price (in Dollars per share)									$ 114,077
Aggregate gross (in Dollars)									$ 114,077
2021 private placement offering [Member] | Class A Common Stock [Member] | Warrant [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									2,858	2,858	2,858
Warrants exercise price per share (in Dollars per share)									$ 52.5	$ 52.5	$ 52.5
Expire date											Dec. 03, 2026
2021 private placement offering [Member] | Class A Common Stock [Member] | Underwriters Warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									4,679	4,679	4,679
Warrants exercise price per share (in Dollars per share)									$ 175	$ 175	$ 175
Expire date											Dec. 01, 2026
October 2023 registered direct offering [Member] | Series B warrants [Member]
Stockholders’ Equity [Line Items]
Number of warrants outstanding									242,425	242,425	242,425
Warrant term									18 months	18 months	18 months
October 2023 registered direct offering [Member] | Series A warrants [Member]
Stockholders’ Equity [Line Items]
Number of warrants outstanding									242,425	242,425	242,425
Warrants exercise price per share (in Dollars per share)									$ 16.5	$ 16.5	$ 16.5
Warrant term									5 years 6 months	5 years 6 months	5 years 6 months
October 2023 registered direct offering [Member] | Class A Common Stock [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									16,971	16,971	16,971
October 2023 registered direct offering [Member] | Class A Common Stock [Member] | Placement agent warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									16,971	16,971	16,971
Warrants exercise price per share (in Dollars per share)									$ 20.625	$ 20.625	$ 20.625
Expire date											Oct. 11, 2028
December 2023 registered direct offering [Member] | Underwriters Warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									9,489	9,489	9,489
Warrants exercise price per share (in Dollars per share)									$ 21.813	$ 21.813	$ 21.813
December 2023 registered direct offering [Member] | Class A Common Stock [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									135,531	135,531	135,531
Warrants exercise price per share (in Dollars per share)									$ 16.2	$ 16.2	$ 16.2
December 2023 registered direct offering [Member] | Class A Common Stock [Member] | Placement agent warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									9,489	9,489	9,489
Warrants exercise price per share (in Dollars per share)									$ 21.813	$ 21.813	$ 21.813
Expire date											Dec. 20, 2028
December 2023 registered direct offering [Member] | Class A Common Stock [Member] | Investor warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									135,531	135,531	135,531
Warrants exercise price per share (in Dollars per share)									$ 16.2	$ 16.2	$ 16.2
Expire date											Jun. 22, 2029
New Warrant Shares [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares					2,319,186
New Warrant Shares [Member] | Warrant [Member]
Stockholders’ Equity [Line Items]
Net proceeds (in Dollars)											$ 6,300,000
April 2024 Public Offering [Member] | Class A Common Stock [Member] | Placement agent warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									154,894	154,894	154,894
Warrants exercise price per share (in Dollars per share)									$ 2.9375	$ 2.9375	$ 2.9375
Expire date											Apr. 08, 2029
April 2024 Public Offering [Member] | Class A Common Stock [Member] | Common Warrants [Member]
Stockholders’ Equity [Line Items]
Warrant purchase shares									297,872	297,872	297,872
Warrants exercise price per share (in Dollars per share)									$ 2.35	$ 2.35	$ 2.35
Expire date											Apr. 10, 2029
July Registered Direct Offering [Member]
Stockholders’ Equity [Line Items]
Public offering shares			2,236,026
July Registered Direct Offering [Member] | Class A Common Stock [Member]
Stockholders’ Equity [Line Items]
Number of warrants outstanding									2,236,026	2,236,026	2,236,026

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jul. 17, 2024	Jun. 17, 2024	Apr. 30, 2024	Dec. 31, 2023
Equity-Based Compensation [Line Items]
Stock options exercisable term			4 years
Stock option expiration term			10 years
Share percentage			5%
Number of Stock Options, Options granted			88,625
Dividend yield			0%
Expected life			10 years
Unrecognized equity based compensation			$ 3
Exercise price (in Dollars per share)	$ 15.09		$ 15.09		$ 3.125			$ 49.6
General and administrative expenses	$ 0.1		$ 0.1
Restricted Stock Units (RSUs) [Member]
Equity-Based Compensation [Line Items]
Unvested shares (in Shares)	752,666		752,666					11,239
Stock option issued and outstanding (in Shares)	121,186		121,186					43,786
Unrecognized equity based compensation			$ 1.4
Unrecognized equity-based compensation term			2 years 3 days
Stock Option [Member]
Equity-Based Compensation [Line Items]
Number of Stock Options, Options granted			88,625
Stock option issued and outstanding (in Shares)	121,186		121,186					43,786
Unrecognized equity based compensation			$ 0.4
Unrecognized equity-based compensation term			1 year 11 months 8 days
Exercise price (in Dollars per share)	$ 15.09		$ 15.09					$ 49.6
Equity-based compensation expense	$ 1.4	$ 0.5	$ 1.9	$ 1.6
Minimum [Member]
Equity-Based Compensation [Line Items]
Risk-free interest rate			79%
Minimum [Member] | Restricted Stock Units (RSUs) [Member]
Equity-Based Compensation [Line Items]
Risk-free interest rate			3.79%
Maximum [Member]
Equity-Based Compensation [Line Items]
Risk-free interest rate			95%
Maximum [Member] | Restricted Stock Units (RSUs) [Member]
Equity-Based Compensation [Line Items]
Risk-free interest rate			4.52%
Class A common stock [Member]
Equity-Based Compensation [Line Items]
Exercise price (in Dollars per share)						$ 2.5
Class A common stock [Member] | Restricted Stock Units (RSUs) [Member]
Equity-Based Compensation [Line Items]
Exercise price (in Dollars per share)							$ 2.15
Class A common stock [Member] | Stock Option [Member]
Equity-Based Compensation [Line Items]
Stock option issued and outstanding (in Shares)							50,000

Equity-Based Compensation - Sch

Equity-Based Compensation - Schedule of RSU Activity (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2024 shares
Schedule of RSU Activity [Line Items]
Outstanding (unvested) at December 31, 2023	11,239
RSU granted	1,235,324
RSUs vested	(485,997)
RSU expired/forfeited	(7,900)
Outstanding (unvested) at June 30, 2024	752,666

Equity-Based Compensation - S_2

Equity-Based Compensation - Schedule of Issued and Outstanding Options (Details) - Stock Option [Member] - shares	Sep. 30, 2024	Dec. 31, 2023
Schedule of Issued and Outstanding Options [Line Items]
Stock options vested (based on ratable vesting)	21,143	16,091
Stock options unvested	100,043	27,695
Total stock options outstanding	121,186	43,786

Equity-Based Compensation - S_3

Equity-Based Compensation - Schedule of Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Schedule of Stock Option Activity [Line Items]
Weighted Average Exercise Price, Outstanding at Beginning	$ 49.6
Number of Stock Options, Options granted | shares	88,625
Weighted Average Exercise Price, Outstanding at ending	$ 15.09
Stock Option [Member]
Schedule of Stock Option Activity [Line Items]
Number of Stock Options, Outstanding at Beginning | shares	43,786
Weighted Average Exercise Price, Outstanding at Beginning	$ 49.6
Number of Stock Options, Options granted | shares	88,625
Weighted Average Exercise Price, Options granted	$ 2.46
Number of Stock Options, Options exercised | shares
Weighted Average Exercise Price, Options exercised
Number of Stock Options, Options expired/forfeited | shares	(11,225)
Weighted Average Exercise Price, Options expired/forfeited	$ 50.2
Number of Stock Options, Outstanding at ending | shares	121,186
Weighted Average Exercise Price, Outstanding at ending	$ 15.09

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)

2 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Feb. 21, 2024

Oct. 24, 2023

Nov. 16, 2022

Dec. 23, 2016

Dec. 22, 2016

Nov. 20, 2014

Sep. 30, 2024

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

Dec. 31, 2021

Commitments and Contingencies [Line Items]

Expenditures amount

$ 265,000

Issued RSUs shares (in Shares)

4,814

Aggregate value

$ 200,000

Accrued expenses

$ 100,000

Accounts payable

$ 200,000

$ 200,000

$ 200,000

Revenues

773,000

$ 150,000

1,789,000

$ 646,000

License fee

5,000

0

0

Cash payment

$ 50,000

Agreement term

20 years

Milestone payment

500,000

Milestone fees payable

37,500

50,000

Reimbursement

21,307

Annual royalty fee

10,000

Annual net sales percentage

1%

Net sales of sub licensees percentage

10%

Initial fee paid

$ 250,000

License agreement amount

500,000

Professional fees

$ 27,000

License agreement term

20 years

Incurred term

20 years

Award amount

$ 3,000,000

Supply Agreement [Member] | Secretome Therapeutics, Inc. [Member]

Commitments and Contingencies [Line Items]

Agreement term

5 years

Initial start-up payment received

$ 242,000

Technology transfer, documentation preparation, training, and testing costs

210,000

Project management fees

2,400

Suite reservation fee

30,000

Potential amount receivable for each product lot

55,000

Payments receivable for each additional product lot in excess of initial training run lots

30,000

Monthly manufacturing suite reservation fee

30,000

Hourly fee for project management services

$ 240

Percentage markup on the value of materials compensated

20%

Outsourced testing fee per batch receivable

$ 500

Monthly payment receivable for in process samples and vialed harvests for training

2,000

Standard fee receivable for product packing, handling and shipping

750

Increased fee for expedited or special hour service

$ 1,500

Agreement termination description

Either party may terminate the agreement for cause and upon notice in the event of a material breach, within (i) 30 days of an uncured material breach that is not a payment default or (ii) 10 days for an uncured payment default. The Secretome Agreement further provides that either party may terminate the agreement at any time upon 90 days’ notice to the other party.

Revenues

600,000

$ 800,000

Nondisclosure Agreement [Member] | Secretome Therapeutics, Inc. [Member]

Commitments and Contingencies [Line Items]

Agreement term

10 years

Maximum [Member]

Commitments and Contingencies [Line Items]

Accrued expenses

100,000

100,000

100,000

Longeveron [Member]

Commitments and Contingencies [Line Items]

Payments to UM

5,000

UM Agreements [Member]

Commitments and Contingencies [Line Items]

Payments to UM

5,000

Milestone fees payable

10,000

15,000

Technology Services Agreement [Member]

Commitments and Contingencies [Line Items]

Accounts payable

0

0

0

0

UM License [Member]

Commitments and Contingencies [Line Items]

License fee

$ 100,000

Payments to UM

365,000

first Phase 3 Clinical Trial [Member]

Commitments and Contingencies [Line Items]

Completion of trial

$ 150,000

Biologics license [Member]

Commitments and Contingencies [Line Items]

License fee

$ 250,000

Chief Science Officer [Member]

Commitments and Contingencies [Line Items]

Accrued expenses

$ 100,000

$ 100,000

$ 100,000

$ 100,000

Class A Common Stock [Member]

Commitments and Contingencies [Line Items]

Unregistered shares (in Shares)

11,039

Series C Units [Member]

Commitments and Contingencies [Line Items]

Shares issued (in Shares)

10,000

Company value amount

$ 250,000

Employee Benefits Plan - Additi

Employee Benefits Plan - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Contribution Plan Disclosure [Line Items]
Company contributed amount			$ 0.1	$ 0.1
Maximum [Member]
Defined Contribution Plan Disclosure [Line Items]
Company contributed amount	$ 0.1	$ 0.1

Loss Per Share - Schedule of Di

Loss Per Share - Schedule of Diluted Net Loss per Share (Details) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Schedule of Diluted Net Loss per Share [Line Items]
Total	7,680	1,900
RSUs [Member]
Schedule of Diluted Net Loss per Share [Line Items]
Total	753	123
PSUs [Member]
Schedule of Diluted Net Loss per Share [Line Items]
Total		125
Stock options [Member]
Schedule of Diluted Net Loss per Share [Line Items]
Total	121	381
Warrants [Member]
Schedule of Diluted Net Loss per Share [Line Items]
Total	6,806	1,271

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - $ / shares	Oct. 31, 2024	Sep. 30, 2024	Jul. 10, 2024	Jun. 17, 2024
Class A Common Stock [Member]
Subsequent Events [Line Items]
Warrants exercise price per share (in Dollars per share)				$ 2.5
Warrant purchase shares		154,894	150,000	3,395,782
Class A Common Stock [Member] | Subsequent Event [Member] | October 2024 Inducement Transaction Purchaser Warrants [Member]
Subsequent Events [Line Items]
Warrant purchase shares	2,858
2021 private placement offering [Member]
Subsequent Events [Line Items]
Warrants exercise price per share (in Dollars per share)		$ 1
2021 private placement offering [Member] | Subsequent Event [Member]
Subsequent Events [Line Items]
Warrants exercise price per share (in Dollars per share)	$ 1
2021 private placement offering [Member] | Class A Common Stock [Member]
Subsequent Events [Line Items]
Warrants exercise price per share (in Dollars per share)		$ 175
Warrant purchase shares		4,679