Inhibikase Therapeutics (IKT) 10-Q 14 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Registrant Name	INHIBIKASE THERAPEUTICS, INC.
Entity Central Index Key	0001750149
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity File Number	001-39676
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Tax Identification Number	26-3407249
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	3350 Riverwood Parkway SE
Entity Address, Address Line Two	Suite 1900
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30339
City Area Code	678
Local Phone Number	392-3419
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	IKT
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		67,192,570

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 913,420	$ 9,165,179
Marketable securities	2,330,226	4,086,873
Prepaid research and development	112,225	219,817
Deferred offering costs	553,318	147,445
Prepaid expenses and other current assets	280,914	591,734
Total current assets	4,190,103	14,211,048
Equipment and improvements, net	53,667	73,372
Right-of-use asset	133,105	222,227
Total assets	4,376,875	14,506,647
Current liabilities:
Accounts payable	2,529,220	646,767
Lease obligation, current	145,210	150,095
Accrued expenses and other current liabilities	2,161,374	2,259,955
Insurance premium financing payable	71,662	381,784
Total current liabilities	4,907,466	3,438,601
Lease obligation, net of current portion	0	90,124
Total liabilities	4,907,466	3,528,725
Commitments and contingencies (see Note 13)
Stockholders’ equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at September 30, 2024 and December 31, 2023	0	0
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,464,070 and 6,186,280 shares issued and outstanding at September 30, 2024 and December 31, 2023	7,464	6,186
Additional paid-in capital	81,748,225	77,871,584
Accumulated other comprehensive income	1,754	877
Accumulated deficit	(82,288,034)	(66,900,725)
Total stockholders' (deficit) equity	(530,591)	10,977,922
Total liabilities and stockholders' equity	$ 4,376,875	$ 14,506,647

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	7,464,070	6,186,280
Common stock, shares outstanding	7,464,070	6,186,280

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue:
Total revenue	$ 0		$ 0
Revenue from Contract with Customer, Product and Service [Extensible List]	us-gaap:GrantMember	us-gaap:GrantMember	us-gaap:GrantMember	us-gaap:GrantMember
Costs and expenses:
Research and development	$ 4,189,873		$ 10,016,982
Selling, general and administrative	1,637,603		5,643,386
Total costs and expenses	5,827,476		15,660,368
Loss from operations	(5,827,476)		(15,660,368)
Interest income	49,410		273,059
Net loss	(5,778,066)	$ (4,595,199)	(15,387,309)	$ (14,850,943)
Other comprehensive income (loss), net of tax
Unrealized gains (loss) on marketable securities	2,778		877
Comprehensive loss	$ (5,775,288)		$ (15,386,432)
Net loss per share - basic	$ (0.65)		$ (2.03)
Net loss per share - diluted	$ (0.65)		$ (2.03)
Weighted average number of common share basic	8,882,570		7,592,103
Weighted average number of common share diluted	8,882,570		7,592,103
As Adjusted
Revenue:
Total revenue		79,569		260,500
Costs and expenses:
Research and development		3,225,551		10,615,368
Selling, general and administrative		1,622,894		5,331,358
Total costs and expenses		4,848,445		15,946,726
Loss from operations		(4,768,876)		(15,686,226)
Interest income		173,677		835,283
Net loss		(4,595,199)		(14,850,943)
Other comprehensive income (loss), net of tax
Unrealized gains (loss) on marketable securities		1,571		(104,861)
Comprehensive loss		$ (4,593,628)		$ (14,955,804)
Net loss per share - basic		$ (0.75)		$ (2.48)
Net loss per share - diluted		$ (0.75)		$ (2.48)
Weighted average number of common share basic		6,162,671		5,977,841
Weighted average number of common share diluted		6,162,671		5,977,841

Condensed Statements of Stockho

Condensed Statements of Stockholders' Equity (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance at Dec. 31, 2022	$ 21,035,401	$ 4,224	$ 68,798,301	$ 104,718	$ (47,871,842)
Beginning balance, Shares at Dec. 31, 2022		4,224,294
Stock-based compensation expense	123,273		123,273
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs	8,542,942	$ 972	8,541,970
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs, Shares		971,532
Other comprehensive income loss	61,104			61,104
Net Income (Loss)	(4,477,778)				(4,477,778)
Ending balance at Mar. 31, 2023	25,284,942	$ 5,196	77,463,544	165,822	(52,349,620)
Ending balance, Shares at Mar. 31, 2023		5,195,826
Beginning balance at Dec. 31, 2022	21,035,401	$ 4,224	68,798,301	104,718	(47,871,842)
Beginning balance, Shares at Dec. 31, 2022		4,224,294
Net Income (Loss)	(14,850,943)
Ending balance at Sep. 30, 2023	15,017,883	$ 5,361	77,735,450	(143)	(62,722,785)
Ending balance, Shares at Sep. 30, 2023		5,360,326
Beginning balance at Mar. 31, 2023	25,284,942	$ 5,196	77,463,544	165,822	(52,349,620)
Beginning balance, Shares at Mar. 31, 2023		5,195,826
Stock-based compensation expense	124,845		124,845
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs	95	$ 95
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs, Shares		95,000
Other comprehensive income loss	(167,536)			(167,536)
Net Income (Loss)	(5,777,966)				(5,777,966)
Ending balance at Jun. 30, 2023	19,464,380	$ 5,291	77,588,389	(1,714)	(58,127,586)
Ending balance, Shares at Jun. 30, 2023		5,290,826
Stock-based compensation expense	129,781		129,781
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs	17,350	$ 70	17,280
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs, Shares		69,500
Other comprehensive income loss	1,571			1,571
Net Income (Loss)	(4,595,199)				(4,595,199)
Ending balance at Sep. 30, 2023	15,017,883	$ 5,361	77,735,450	(143)	(62,722,785)
Ending balance, Shares at Sep. 30, 2023		5,360,326
Beginning balance at Dec. 31, 2023	$ 10,977,922	$ 6,186	77,871,584	877	(66,900,725)
Beginning balance, Shares at Dec. 31, 2023	6,186,280	6,186,280
Stock-based compensation expense	$ 53,434		53,434
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs	397,607	$ 291	397,316
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs, Shares		290,564
Other comprehensive income loss	(2,677)			(2,677)
Net Income (Loss)	(4,649,635)				(4,649,635)
Ending balance at Mar. 31, 2024	6,776,651	$ 6,477	78,322,334	(1,800)	(71,550,360)
Ending balance, Shares at Mar. 31, 2024		6,476,844
Beginning balance at Dec. 31, 2023	$ 10,977,922	$ 6,186	77,871,584	877	(66,900,725)
Beginning balance, Shares at Dec. 31, 2023	6,186,280	6,186,280
Net Income (Loss)	$ (15,387,309)
Ending balance at Sep. 30, 2024	$ (530,591)	$ 7,464	81,748,225	1,754	(82,288,034)
Ending balance, Shares at Sep. 30, 2024	7,464,070	7,464,070
Beginning balance at Mar. 31, 2024	$ 6,776,651	$ 6,477	78,322,334	(1,800)	(71,550,360)
Beginning balance, Shares at Mar. 31, 2024		6,476,844
Stock-based compensation expense	30,697		30,697
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs	3,248,133	$ 739	3,247,394
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs, Shares		739,301
Other comprehensive income loss	776			776
Net Income (Loss)	(4,959,608)				(4,959,608)
Ending balance at Jun. 30, 2024	5,096,649	$ 7,216	81,600,425	(1,024)	(76,509,968)
Ending balance, Shares at Jun. 30, 2024		7,216,145
Stock-based compensation expense	148,024		148,024
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs	24	$ 248	(224)
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs, Shares		247,925
Other comprehensive income loss	2,778			2,778
Net Income (Loss)	(5,778,066)				(5,778,066)
Ending balance at Sep. 30, 2024	$ (530,591)	$ 7,464	$ 81,748,225	$ 1,754	$ (82,288,034)
Ending balance, Shares at Sep. 30, 2024	7,464,070	7,464,070

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net Income (Loss)	$ (15,387,309)	$ (14,850,943)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	19,705	170,830
Stock-based compensation expense	232,155	377,899
Non-cash consulting and marketing fees	0	17,280
Changes in operating assets and liabilities:
Accounts receivable	0	39,881
Operating lease right-of-use assets	89,122	78,553
Prepaid expenses and other assets	698	(208,086)
Prepaid research and development	107,592	770,051
Accounts payable	1,329,135	(416,612)
Operating lease liabilities	(95,009)	(81,244)
Accrued expenses and other current liabilities	(98,581)	(540,221)
Net cash used in operating activities	(13,802,492)	(14,642,612)
Cash flows from investing activities
Purchases of equipment and improvements	0	(14,238)
Purchases of investments - marketable securities	(10,343,939)	(20,629,391)
Maturities of investments - marketable securities	12,101,463	34,415,890
Net cash provided by investing activities	1,757,524	13,772,261
Cash flows from financing activities
Proceeds from issuance of common stock, pre-funded warrants and warrants, net of issuance costs	3,793,209	8,543,107
Net cash provided by financing activities	3,793,209	8,543,107
Net (decrease) increase in cash and cash equivalents	(8,251,759)	7,672,756
Cash and cash equivalents at beginning of period	9,165,179	7,188,553
Cash and cash equivalents at end of period	913,420	14,861,309
Supplemental disclosures of non-cash financing activities
Non-cash financing costs	553,318	0
Supplemental disclosures of cash flow information
Issuance costs	$ 1,203,350	$ 1,456,479

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (5,778,066)	$ (4,959,608)	$ (4,649,635)	$ (4,595,199)	$ (5,777,966)	$ (4,477,778)	$ (15,387,309)	$ (14,850,943)

Insider Trading Arrangements

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

Nature of Business

Nature of Business	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	1. Nature of Business We are a clinical-stage pharmaceutical company developing protein kinase inhibitor therapeutics to modify the course of cardiopulmonary and neurodegenerative diseases and other diseases that arise from aberrant signaling through the Abelson Tyrosine Kinases. The Company’s multi-therapeutic pipeline includes IkT-001Pro, a prodrug of the anticancer agent imatinib, for the treatment of Pulmonary Arterial Hypertension and risvodetinib (also known as IkT-148009), a selective inhibitor of the non-receptor Abelson Tyrosine Kinases which could be disease-modifying for Parkinson’s disease. Risvodetinib has completed a Phase 2, double-blind placebo-controlled trial evaluating three doses of risvodetinib 1:1:1:1 randomized against placebo. IkT-001Pro has completed bioequivalence dose calibration studies to determine the dose of IkT-001Pro that is equivalent to either 400 mg or 600 mg imatinib mesylate in preparation for a future late-stage trial in Pulmonary Arterial Hypertension (PAH).

Liquidity

Liquidity	9 Months Ended
	Sep. 30, 2024
DisclosureOfGoingConcernAbstract
Liquidity	2. Liquidity As at September 30, 2024, the Company had cash and cash equivalents of $ 913,420 and marketable securities of $ 2,330,226 , which does not include the gross proceeds of approximately $ 110 million from the October 2024 Offering. See Note 14, Subsequent Event . The Company has incurred recurring losses and at September 30, 2024, had an accumulated deficit of $ 82,288,034 . The future success of the Company is dependent on its ability to successfully obtain additional working capital, obtain regulatory approval for and successfully launch and commercialize its product candidates and to ultimately attain profitable operations. The Company is subject to a variety of risks similar to other early-stage life science companies including, but not limited to, the successful development, regulatory approval, and market acceptance of the Company’s product candidates, development by its competitors of new technological innovations, protection of proprietary technology, and raising additional working capital. The Company has incurred significant research and development expenses, general and administrative expenses related to its product candidate programs and negative cash flows from operations. The Company anticipates costs and expenses to increase in the future as the Company continues to develop its product candidates. The Company may seek to fund its operations, particularly with respect to its neurodegenerative disease programs, through additional public equity, private equity, or debt financings, as well as other sources. However, the Company may be unable to raise additional working capital, or if it is able to raise additional capital, it may be unable to do so on commercially favorable terms. The Company’s failure to raise capital or enter into such other arrangements if and when needed would have a negative impact on the Company’s business, results of operations and financial condition and the Company’s ability to continue to develop its product candidates. The Company estimates that its cash and cash equivalents and marketable securities at September 30, 2024, including the $110 million of gross proceeds from the October 2024 Offering, is sufficient to fund its normal operations for at least the next twelve months. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	3. Basis of Presentation and Significant Accounting Policies Basis of Presentation of Interim Financial Statements The accompanying unaudited condensed consolidated financial statements were prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial statements and, in the opinion of management, include all normal and recurring adjustments necessary to present fairly the results of the interim periods shown. The December 31, 2023 balance sheet was derived from the December 31, 2023 audited financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) have been condensed or omitted pursuant to such SEC rules and regulations. Management believes that the disclosures made are adequate to make the information presented not misleading. The results for the interim periods are not necessarily indicative of results to be expected for the fiscal year ending December 31, 2024. The unaudited condensed consolidated financial statements contained herein should be read in conjunction with the Company’s annual audited financial statements and notes thereto for the year ended December 31, 2023 included in the Company’s Annual Report on Form 10-K filed with the SEC. The unaudited condensed consolidated financial statements have been prepared in conformity with US GAAP, which prescribes elimination of all significant intercompany accounts and transactions in the accounts of the Company and its wholly-owned subsidiary, IKT Securities Corporation, Inc., which was incorporated in the Commonwealth of Massachusetts in December 2021. Any reference in these notes to applicable guidance is meant to refer to the authoritative US GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies and are generally adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended, or the JOBS Act. The JOBS Act permits an emerging growth company such as the Company to take advantage of an extended transition period to comply with new or revised accounting standards applicable to public companies until those standards would otherwise apply to private companies. The Company has elected not to “opt out” of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company will adopt the new or revised standard at the time private companies adopt the new or revised standard and will do so until such time that it either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. Use of Estimates The preparation of the Company’s financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company utilizes certain estimates in the determination of our liquidity and working capital adequacy, the fair value of its stock options and warrants, deferred tax valuation allowances and revenue recognition, to record expenses relating to research and development contracts and accrued expenses. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from such estimates. New Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed below, the Company does not believe that the adoption of recently issued standards have or may have a material impact on its condensed consolidated financial statements and disclosures. In November 2023, the FASB issued Accounting Standards Update No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The new guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company is currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. Concentrations of C redit Risk For the three and nine months ended September 30, 2024, the Company did no t report any revenues. For the three and nine months ended September 30, 2023 , the Company derived 100 % of its total revenue from a single source, the United States Government, in the form of federal research grants. Revenue Recognition The Company generates revenue from research and development grants under contracts with third parties that do not create customer-vendor relationships. The Company’s research and development grants are non-exchange transactions and are not within the scope of ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Contribution revenue earned from activities performed pursuant to research and development grants is reported as grant revenue in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss. Revenue from these grants is recognized as the Company incurs qualifying expenses as stipulated by the terms of the respective grant. Cash received from grants in advance of incurring qualifying expenses is recorded as deferred revenue. The Company records revenue and a corresponding receivable when qualifying costs are incurred before the grants are received. Research and Development Costs Costs incurred in the research and development of the Company’s product candidates are expensed as incurred. Research and development expenses consist of costs incurred in performing research and development activities, including activities associated with performing services under grant revenue contracts and include salaries and benefits, stock compensation, research-related subcontractors and consultants, supplies and overhead costs. Advance payments made to suppliers and contract research organizations are classified as prepaid research and development and are expensed as research and development as the supplies are consumed and th e contract services are provided. During the three and nine months ended September 30, 2024, the Company incurred expenses of approximately $ 149 thousand and $ 446 thousand, respectively, with a related party vendor which were included in research and development expenses. During the three and nine months ended September 30, 2023, the Company incurred expenses of approximately $ 19 thousand and $ 30 thousand, respectively, with a related party vendor, which were included in research and development expenses. As of the periods ended September 30, 2024 and December 31, 2023, the Company had a payable or accrued expense balance with a related party vendor of approximately $ 74 thousand and $ 57 thousand, respectively, included in accounts payable and accrued expenses. Leases The Company accounts for its leases under ASU 2021-09, ASU 2018-10, and ASC Topic 842, Leases (“ASC 842”). ASC 842 requires a lessee to record a right-of-use asset and a corresponding lease liability for most lease arrangements on the Company's condensed and consolidated balance sheet. Under the standard, disclosure of key information about leasing arrangements to assist users of the condensed and consolidated financial statements with assessing the amount, timing and uncertainty of cash flows arising from leases is required. Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria are met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, the lease term is for a major part of the remaining useful life of the asset or the present value of the lease payments equals or exceeds substantially all of the fair value of the asset. A lease is classified as an operating lease if it does not meet any of these criteria. For all leases at the lease commencement date, a right-of-use asset and a lease liability are recognized. The right-of-use asset represents the right to use the leased asset for the lease term. The lease liability represents the present value of the lease payments under the lease. The right-of-use asset is initially measured at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred if any, less any lease incentives received. All right-of-use assets are reviewed for impairment. The lease liability is initially measured at the present value of the lease payments, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the secured incremental borrowing rate for the same term as the underlying lease. Lease payments included in the measurement of the lease liability comprise the following: the fixed noncancelable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not be terminated early. Lease cost for operating leases consists of the lease payments plus any initial direct costs, primarily brokerage commissions, and is recognized on a straight-line basis over the lease term. Included in lease cost are any variable lease payments incurred in the period that are not included in the initial lease liability and lease payments incurred in the period for any leases with an initial term of 12 months or less. Lease cost for finance leases consists of the amortization of the right-of-use asset on a straight-line basis over the lease term and interest expense determined on an amortized cost basis. The lease payments are allocated between a reduction of the lease liability and interest expense. The Company has made an accounting policy election to not recognize leases with an initial term of 12 months or less within our condensed consolidated balance sheets and to recognize those lease payments on a straight-line basis in our condensed consolidated statements of operations and comprehensive loss over the lease term. Equipment and Improvements Equipment and improvements are stated at cost, less accumulated depreciation. For financial reporting purposes, depreciation is recognized using the straight-line method, allocating the cost of the assets over their estimated usefulness from three to five years for network equipment, office equipment, and furniture classified as fixed assets. Estimated Useful Economic Life Leasehold property improvements, right-of-use assets Lesser of lease term or useful life Furniture and office equipment 3 - 5 years Lab equipment 3 years IT equipment 3 years Fair Value Measurement The Company has certain financial assets and liabilities recorded at fair value which have been classified as Level 1, 2 or 3 within the fair value hierarchy as described in the accounting standards for fair value measurements. · Level 1 — Fair values are determined utilizing quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access; · Level 2 — Fair values are determined by utilizing quoted prices for identical or similar assets and liabilities in active markets or other market observable inputs such as interest rates, yield curves and foreign currency spot rates; and · Level 3 — Inputs are unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s financial assets and financial liabilities, which include cash equivalents and marketable securities and accounts payable, have been initially valued at the transaction price, and subsequently revalued at the end of each reporting period, utilizing third-party pricing services. The pricing services utilize industry standard valuation models, including both income and market-based approaches, to determine value. Marketable Securities The Company's marketable securities consist of U.S. Treasury securities with maturities of less than one year which are classified as available-for-sale and included in current assets on the condensed consolidated balance sheets. Available-for-sale debt securities are carried at fair value with unrealized gains and losses reported as a component of stockholders’ (deficit) equity in accumulated other comprehensive income. Realized gains and losses, if any, are included in other income, net in the condensed consolidated statements of operations and comprehensive loss. Available-for-sale securities are reviewed for possible impairment at least quarterly, or more frequently if circumstances arise that may indicate impairment. When the fair value of the securities declines below the amortized cost basis, impairment is indicated and it must be determined whether it is other than temporary. Impairment is considered to be other than temporary if the Company: (i) intends to sell the security, (ii) will more likely than not be forced to sell the security before recovering its cost, or (iii) does not expect to recover the security’s amortized cost basis. If the decline in fair value is considered other than temporary, the cost basis of the security is adjusted to its fair market value and the realized loss is reported.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	4. Fair Value of Financial Instruments The following table summarizes cash equivalents and marketable securities measured at their fair value on a recurring basis as of September 30, 2024 and December 31, 2023: Fair Value Measurements as of September 30, 2024: Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 86,054 $ — $ — $ 86,054 Total $ 86,054 $ — $ — $ 86,054 Marketable securities, available-for-sale: U.S. Treasury obligations $ 2,330,226 $ — $ — $ 2,330,226 Total $ 2,330,226 $ — $ — $ 2,330,226 Fair Value Measurements as of December 31, 2023: Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 8,039,024 $ — $ — $ 8,039,024 Total $ 8,039,024 $ — $ — $ 8,039,024 Marketable securities, available-for-sale: U.S. Treasury obligations $ 4,086,873 $ — $ — $ 4,086,873 Total $ 4,086,873 $ — $ — $ 4,086,873

Marketable Securities

Marketable Securities	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	5. Marketable Securities Marketable securities consisted of the following as of: September 30, 2024 Amortized Cost Unrealized Gain Unrealized Loss Fair Value Marketable securities, available-for-sale: U.S. Treasury obligations $ 2,328,472 $ 1,754 $ — $ 2,330,226 Total $ 2,328,472 $ 1,754 $ — $ 2,330,226 December 31, 2023 Amortized Cost Unrealized Gain Unrealized Loss Fair Value Marketable securities, available-for-sale: U.S. Treasury obligations $ 4,085,996 $ 877 $ — $ 4,086,873 Total $ 4,085,996 $ 877 $ — $ 4,086,873 As of September 30, 2024, the Company held 11 U.S. Tr easury debt securities that were in an unrealized gain position totaling $ 1,754 . As of December 31, 2023, the Comp any held three U.S. Treasury debt securities that were in an unrealized gain position totaling $ 877 . All U.S. Treasury obligations were due to mature in less than one year for the period and year ended September 30, 2024 and December 31, 2023, respectively. The Company received proceeds o f $ 12.1 m illion from maturities of marketable securities for the nine months ended September 30, 2024. The Company received proceeds of $ 41.1 million from maturities of marketable securities for the year ended December 31, 2023. The Company did no t realize any gains or losses from maturities of marketable securities for the period ended September 30, 2024 or the year ended December 31, 2023.

Equipment and Improvements

Equipment and Improvements	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Equipment and Improvements	6. Equipment and Improvements Equipment and Improvements, net September 30, December 31, Furniture and office equipment $ 86,930 $ 86,930 IT equipment 16,895 16,895 103,825 103,825 Less: Accumulated depreciation 50,158 30,453 Total $ 53,667 $ 73,372 Depreciation expense for the three and nine months ended September 30, 2024 was $ 6,568 and $ 19,705 , re spectively. Depreciation expense for the three and nine months ended September 30, 2023 was $ 6,568 and $ 170,830 , respectively.

Supplemental Condensed Consolid

Supplemental Condensed Consolidated Balance Sheet Information	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Condensed Consolidated Balance Sheet Information	7. Supplemental Condensed Consolidated Balance Sheet Information Accrued expenses and other current liabilities consist of the following: September 30, December 31, Accrued consulting $ 78,447 $ 49,395 Accrued compensation 653,230 635,451 Accrued research and development 1,416,647 1,472,292 Accrued other 13,050 102,817 Total accrued expenses and other current liabilities $ 2,161,374 $ 2,259,955

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity (Deficit)	9. Stockholders’ Equity (Deficit) Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors, subject to the prior rights of holders of all classes of stock outstanding. As of September 30, 2024, a total of 3,337,435 shares of common stock were reserved for issuance upon the exercise of outstanding stock options and warrants under the 2020 Equity Incentive Plan (the "2020 Plan"). Share Issuances Subject to the terms and conditions of the ATM Agreement, the Agent will use its commercially reasonable efforts to sell the Shares from time to time, based upon the Company’s instructions. The Company has no obligation to sell any of the Shares and may at any time suspend sales under the ATM Agreement or terminate the ATM Agreement in accordance with its terms. The Company has provided the Agent with customary indemnification rights, and the Agent will be entitled to a fixed commission of 3.0 % of the aggregate gross proceeds from the Shares sold. The ATM Agreement contains customary representations and warranties, and the Company is required to deliver customary closing documents and certificates in connection with sales of the Shares . As of September 30, 2024, 315,338 ATM Shares have been sold under the ATM Agreement with net proceeds of $ 820,509 to the Company. On May 20, 2024, the Company entered into a securities purchase agreement with a single institutional investor in connection with a registered direct offering and concurrent private placement with the same institutional investor (collectively the "May 2024 Offering"). The May 2024 Offering consisted of (i) 714,527 shares of the Company's common stock sold at $ 1.68 per share, (ii) Pre-Funded Common Warrants to purchase up to 957,925 shares of common stock with an exercise price of $ 0.0001 which are immediately exercisable after the issuance until exercised in full, (iii) Series A Common Warrants to purchase 1,672,452 shares of common stock with an exercise price of $ 1.68 per share which expire on the one-year anniversary from the date of stockholder approval, and (iv) Series B Common Warrants to purchase 1,672,452 shares of common stock with an exercise price of $ 1.68 per share which expire on the five-year anniversary from the date of stockholder approval. All of the warrants in the May 2024 Offering were issued to a single investor. During the third quarter 2024, the investor exercised 247,925 Pre-Funded Common Warrants and exercised the remaining 710,000 Pre-Funded Common Warrants as of the date of this report. The Company received net proceeds from the May 2024 Offering of approximately $ 2.2 million. On May 20, 2024, the Company also entered into a warrant inducement agreement with the same investor to exercise certain outstanding warrants that the Company issued in January 2023 ("January 2023 Existing Warrants"). Pursuant to the warrant inducement agreement, the investor agreed to exercise outstanding warrants to purchase an aggregate of 708,500 shares of the Company's common stock at an amended exercise price of $ 1.68 per share. These shares are held in abeyance and not considered outstanding. The shares held in abeyance will be held in abeyance until notice from the investor that the balance, or portion thereof, may be issued in compliance with a beneficial ownership limitation provision in the warrants. The Company also agreed to reduce the exercise price of the remaining unexercised portion of such warrants to purchase 1,229,484 shares of common stock to $ 1.68 per share and to issue the investor Series C Common Warrants to purchase 708,500 shares of the Company's common stock and Series D Common Warrants to purchase 708,500 shares of the Company's common stock ("January 2023 New Warrants"). Each will have an exercise price of $ 1.68 per share and will be exercisable beginning on the effective date of stockholder approval. The Series C Common Warrants will expire on the one-year anniversary from the date of stockholder approval and the Series D Common Warrants will expire on the five-year anniversary from the date of stockholder approval. The shares held in abeyance were issued to the investor on October 9, 2024. The repricing of the January 2023 Existing Warrants and issuance of the Series C Common Warrants and the Series D Common Warrants is considered a modification of the January 2023 Existing Warrants under the guidance of ASU 2021-04. The modification is consistent with the "Equity Issuance" classification under that guidance as the reason for the modification was to induce the holder to cash exercise their warrants, resulting in the imminent exercise of the January 2023 Existing Warrants, which raised equity capital and generated net proceeds for the Company of approximately $ 1.0 million. The total fair value of the consideration of the modification includes the incremental fair value of the January 2023 Existing Warrants (determined by comparing the fair values immediately prior to and immediately after the modification) and the initial fair value of the January 2023 New Warrants. The fair values were calculated using the Black-Scholes model and the Company determined that the total fair value of the consideration related to the modification of the January 2023 Existing Warrants, including the initial fair value of the January 2023 New Warrants was $ 1.8 million.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation 2020 Equity Incentive Plan The Company’s 2020 Plan was established for granting stock incentive awards to directors, officers, employees and consultants to the Company. Stock Options During the nine months ended September 30, 2024, the Company granted 308,039 options with a weighted average strike price of $ 1.89 to purchase common stock to certain employees that either (i) vest annually in three equal parts over three years (ii) vest on the first anniversary of the grant of such option in the amount of one-third of such grant, and the remaining portion will vest in 24 equal monthly installments thereafter or (iii) vest on the first anniversary of the grant of such option. The Company granted 45,000 performance-based options with a weighted average strike price of $ 2.16 to pu rchase common stock to certain employees. These options are subject to performance vesting and will vest and become exercisable once the performance conditions are probable of being met. There is no assurance that the performance conditions will be met and therefore some or all of these options may never vest or become exercisable. The total aggregate grant date fair value of all options granted was $ 489,108 . During the nine months ended September 30, 2024, certain performance conditions were met. During the nine months ended September 30, 2023, the Company granted 86,669 options with a weighted average strike price of $ 2.81 to purchase common stock to certain employees that will either (i) vest annually in three equal parts over three years or (ii) vest on the first anniversary of the grant of such option in the amount of one-third of such grant, and the remaining portion will vest in 24 equal monthly installments thereafter. The Company granted 25,000 performance-based options with a weighted average strike price of $ 1.33 to purchase co mmon stock to certain employees. These options are subject to performance vesting and will vest and become exercisable once the performance conditions have been met. There is no assurance that the performance conditions will be met and therefore some or all of these options may never vest or become exercisable. The total aggregate grant date fair value of all options granted was $ 338,741 . During the nine months ended September 30, 2023, no performance conditions were met. For awards with performance conditions in which the award does not vest unless the performance condition is met, we recognize expense if, and to the extent that, we estimate that achievement of the performance condition is probable. If we conclude that vesting is probable, we recognize expense from the date we reach this conclusion through the estimated vesting date. Stock-Based Compensation Expense The following table summarizes the stock-based compensation expense for stock options granted to employees and non-employees: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Research and development $ 84,370 $ 41,842 $ 94,594 $ 120,718 Selling, general and administrative 63,654 87,939 137,561 257,181 Total stock-based compensation expense $ 148,024 $ 129,781 $ 232,155 $ 377,899

ATM Program

ATM Program	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
ATM Program	8. ATM Program On February 1, 2024, the Company entered into an At The Market Offering (the “ATM”) with H.C. Wainwright & Co., LLC as sales agent (the “Agent”), pursuant to which the Company may, from time to time, issue and sell shares of its common stock, at an aggregate offering price of up to approximately $ 5.7 million (the “Shares”) through the Agent. Under the terms of the ATM Agreement with the Agent (the "ATM Agreement"), the Agent may sell the Shares at market prices by any method that is deemed to be an “ATM” as defined in Rule 415 under the Securities Act, as amended. On May 20, 2024, the Company reduced the aggregate offering price to $ 50,000 , not including the shares of common stock previously sold.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	11. Net Loss Per Share The following table presents the calculation of basic and diluted net loss per share applicable to common stockholders. Basic net loss per share is calculated by dividing net loss attributable to common shareholders by the weighted-average number of shares outstanding during the period which includes Pre-Funded Warrants and shares held in abeyance from date of issuance. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net loss $ ( 5,778,066 ) $ ( 4,595,199 ) $ ( 15,387,309 ) $ ( 14,850,943 ) Denominator: Weighted-average number of common shares outstanding – basic and diluted 8,882,570 6,162,671 7,592,103 5,977,841 Net loss per share applicable to common stockholders – basic and diluted $ ( 0.65 ) $ ( 0.75 ) $ ( 2.03 ) $ ( 2.48 ) The following shares were excluded from the calculation of diluted net loss per share applicable to common stockholders, prior to the application of the treasury stock method, because their effect would have been anti-dilutive for the periods presented: Nine Months Ended September 30, 2024 2023 Options to purchase shares of stock 1,140,280 835,913 Warrants to purchase shares of stock 7,738,040 3,080,090 Total 8,878,320 3,916,003

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes During the three and nine months ended September 30, 2024 and 2023 , there was no provision for income taxes as the Company incurred losses during those periods. Deferred tax assets and liabilities reflect the net tax effect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company recorded a full valuation allowance against its deferred tax assets as the Company believes it is more likely than not the deferred tax assets will not be realized.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies Litigation As previously disclosed, on April 26, 2024, the Company received a notice of a demand for arbitration with the American Arbitration Association from Pivot Holding LLC (“Pivot”), a successor in interest to Sphaera Pharma Pte. Ltd. (“Sphaera”), in connection with the Collaborative Research and Development Agreement dated February 29, 2012, as amended, between the Company and Sphaera (the “Collaboration Agreement”), alleging breach of contract by the Company for failure to pay certain milestone payments under the Collaboration Agreement and seeking damages. Also as previously disclosed, on June 17, 2024, the Company filed an answering statement and counterclaim denying that it had breached the Collaboration Agreement and counterclaiming. On September 30, 2024, following a non-binding confidential mediation, the Company and Pivot entered into a settlement agreement (the “Settlement Agreement”) pursuant to which the Company agreed to pay to Pivot a total sum of $ 500,000 , which Pivot agreed shall constitute full and complete payment for, and shall fully satisfy, any and all amounts for any and all project milestone payments owed or that may be owed to Sphaera and/or Pivot by the Company under the Collaboration Agreement for: (i) “First dosing of patient in US phase 1 trial”; (ii) “US Phase 1 trial completion with endpoints met”; and (iii) “US Phase 2 trial completion with endpoints met” (each as described in the Collaboration Agreement) which payments would have totaled $ 1.625 million in the event Pivot were to be successful in claiming that the Company conducted Phase 1 and Phase 2 trials or that would be due upon successful milestones in the future. The Company also agreed to pay to Pivot a one-time payment of $ 4.4 million, increased from $ 4.0 million, upon FDA Approval (as described in the Collaboration Agreement) and the parties agreed that no further FDA Approval milestone payment(s) shall be due to Pivot in the event that the Company receives additional FDA Approval(s). The Settlement Agreement contains customary mutual releases and covenants not to sue. Except as otherwise provided in the Settlement Agreement, all terms in the Collaboration Agreement shall remain in full force and effect. Lease On April 18, 2022, the Company entered into an operating lease agreement for office space at its new location in Lexington, Massachusetts (the "Office Lease"). On August 8, 2022, the Company commenced occupancy of the leased space. The lease runs through September 30, 2025 . We have an option to extend the lease term for an additional three ( 3 ) years thereafter. The Company accounts for the Office Le ase under the provisions of ASC 842. We recorded a right-of-use asset and a corresponding operating lease liability on the Company's condensed consolidated balance sheets upon the accounting commencement date in August 2022. The lease liability was measured at the accounting commencement date utilizing a 12 % discount rate. The right-of-use asset had a balance o f $ 133,105 at September 30, 2024 . The operating lease obligations totaled $ 145,210 at September 30, 2024 , all of which is included under current liabilities. The Company recorded lease expense of $ 35,296 and $ 105,887 an d other short-term payments of $ 5,521 and $ 16,827 for the three and nine months ended September 30, 2024 , respectively, in selling, general and administrative expenses and lease expense relating to the Office Lease of $ 35,296 and $ 105,887 and other short-term payments of $ 5,788 and $ 17,364 for the three and nine months ended September 30, 2023, respectively, in selling, general and administrative expenses. The Office Lease contains escalating payments during the lease period. Upon execution of the Office Lease, the Company prepaid one month of rent and a security deposit, one of which will be held in escrow and credited at the termination of the lease and the other of which will be applied to the first month’s rent. As of September 30, 2024 , a security deposit of approximately $ 25,000 was included in prepaid expenses and other current assets on the Company’s condensed consolidated balance sheet related to the Office Lease. Future minimum lease payments under this lease at September 30, 2024, are presented by calendar year as follows: Year 2024 $ 38,322 2025 114,966 Total lease payments 153,288 Less: imputed interest ( 8,078 ) Present value of operating lease liabilities $ 145,210

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Event	14. Subsequent Event On October 21, 2024, the Company announced the closing of a private placement of approximately $ 110 million from the issuance and sale of shares of the Company's common stock and accompanying warrants with potential aggregate financing of up to approximately $ 275 million upon the full cash exercise of the warrants issued in the private placement, before deducting placement agent fees and offering expenses (the "October 2024 Offering"). The October 2024 Offering consisted of (i) 58,310,000 shares of common stock sold at $ 1.37 per share, or, in lieu thereof, pre-funded warrants ("Pre-Funded Warrants") to purchase up to 21,985,000 shares of common stock with an exercise price of $0 .001 , (ii) Series A-1 Warrants to purchase an aggregate of 40,139,474 shares of common stock with an exercise price of $ 1.37 , or in lieu thereof, Pre-Funded Warrants to purchase the same number of shares of common stock (the "Series A-1 Warrants"), and (iii) Series B-1 Warrants to purchase an aggregate of 73,813,529 shares of common stock with an exercise price of $ 1.37 , or in lieu thereof, Pre-Funded Warrants to purchase the same number of shares of common stock (the "Series B-1 Warrants"). The Pre-Funded Warrants and Pre-Funded Warrants underlying the Series A-1 Warrants and Series B-1 Warrants are exercisable at any time after their original issuance and will not expire. The Series A-1 Warrants and the Series B-1 Warrants will become exercisable at the earlier of (a) the 75th calendar day following the initial filing of the resale registration statement covering the resale of the shares of common stock issuable upon the exercise of the Series A-1 Warrants and Series B-1 Warrants, if the SEC notifies the Company that it will review such resale registration statement and (b) the 5th business day after the date the Company is notified by the SEC that such resale registration statement will not be subject to further review. Each Series A-1 Warrant will be exercisable for one share of common stock and will expire at 5:00 p.m. (New York City time) on the 30th day following the later of (a) the Company’s public announcement of the Phase 2b 12 week safety readout for IkT-001Pro for PAH and (b) the Company both obtaining stockholder approval for and filing an amendment to its charter to increase the number of authorized shares of common stock to a number of shares of common stock sufficient to allow for the full exercise of the warrants (the "Charter Amendment”). Each Series B-1 Warrant will be exercisable for one share of common stock, will become exercisable by an investor once all of such investor’s Series A-1 Warrants have been exercised and will expire at 5:00 p.m. (New York City time) on the 30th day following the later of (a) the Company’s public announcement of its Phase 2b efficacy readout for IkT-001Pro with respect to PAH and (b) the Company both obtaining stockholder approval for and filing the Charter Amendment. The Series A-1 Warrants have an exercise price of $ 1.37 per share and the Series B-1 Warrants have an exercise price of $ 1.49 per share. The Company intends to use the net proceeds from the private placement to finance the initiation of a Phase 2b trial in PAH and for general corporate purposes. As a result of the October 2024 Offering, as of November 1, 2024, we had 67,192,570 shares of common stock outstanding and 21,985,000 pre-funded warrants outstanding.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation of Interim Financial Statements	Basis of Presentation of Interim Financial Statements The accompanying unaudited condensed consolidated financial statements were prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial statements and, in the opinion of management, include all normal and recurring adjustments necessary to present fairly the results of the interim periods shown. The December 31, 2023 balance sheet was derived from the December 31, 2023 audited financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) have been condensed or omitted pursuant to such SEC rules and regulations. Management believes that the disclosures made are adequate to make the information presented not misleading. The results for the interim periods are not necessarily indicative of results to be expected for the fiscal year ending December 31, 2024. The unaudited condensed consolidated financial statements contained herein should be read in conjunction with the Company’s annual audited financial statements and notes thereto for the year ended December 31, 2023 included in the Company’s Annual Report on Form 10-K filed with the SEC. The unaudited condensed consolidated financial statements have been prepared in conformity with US GAAP, which prescribes elimination of all significant intercompany accounts and transactions in the accounts of the Company and its wholly-owned subsidiary, IKT Securities Corporation, Inc., which was incorporated in the Commonwealth of Massachusetts in December 2021. Any reference in these notes to applicable guidance is meant to refer to the authoritative US GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies and are generally adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended, or the JOBS Act. The JOBS Act permits an emerging growth company such as the Company to take advantage of an extended transition period to comply with new or revised accounting standards applicable to public companies until those standards would otherwise apply to private companies. The Company has elected not to “opt out” of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company will adopt the new or revised standard at the time private companies adopt the new or revised standard and will do so until such time that it either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company.
Use of Estimates	Use of Estimates The preparation of the Company’s financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company utilizes certain estimates in the determination of our liquidity and working capital adequacy, the fair value of its stock options and warrants, deferred tax valuation allowances and revenue recognition, to record expenses relating to research and development contracts and accrued expenses. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from such estimates.
New Accounting Pronouncements	New Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed below, the Company does not believe that the adoption of recently issued standards have or may have a material impact on its condensed consolidated financial statements and disclosures. In November 2023, the FASB issued Accounting Standards Update No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The new guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company is currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures.
Concentrations of Credit Risk	Concentrations of C redit Risk For the three and nine months ended September 30, 2024, the Company did no t report any revenues. For the three and nine months ended September 30, 2023 , the Company derived 100 % of its total revenue from a single source, the United States Government, in the form of federal research grants.
Revenue Recognition	Revenue Recognition The Company generates revenue from research and development grants under contracts with third parties that do not create customer-vendor relationships. The Company’s research and development grants are non-exchange transactions and are not within the scope of ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Contribution revenue earned from activities performed pursuant to research and development grants is reported as grant revenue in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss. Revenue from these grants is recognized as the Company incurs qualifying expenses as stipulated by the terms of the respective grant. Cash received from grants in advance of incurring qualifying expenses is recorded as deferred revenue. The Company records revenue and a corresponding receivable when qualifying costs are incurred before the grants are received.
Research and Development Costs	Research and Development Costs Costs incurred in the research and development of the Company’s product candidates are expensed as incurred. Research and development expenses consist of costs incurred in performing research and development activities, including activities associated with performing services under grant revenue contracts and include salaries and benefits, stock compensation, research-related subcontractors and consultants, supplies and overhead costs. Advance payments made to suppliers and contract research organizations are classified as prepaid research and development and are expensed as research and development as the supplies are consumed and th e contract services are provided. During the three and nine months ended September 30, 2024, the Company incurred expenses of approximately $ 149 thousand and $ 446 thousand, respectively, with a related party vendor which were included in research and development expenses. During the three and nine months ended September 30, 2023, the Company incurred expenses of approximately $ 19 thousand and $ 30 thousand, respectively, with a related party vendor, which were included in research and development expenses. As of the periods ended September 30, 2024 and December 31, 2023, the Company had a payable or accrued expense balance with a related party vendor of approximately $ 74 thousand and $ 57 thousand, respectively, included in accounts payable and accrued expenses.
Leases	Leases The Company accounts for its leases under ASU 2021-09, ASU 2018-10, and ASC Topic 842, Leases (“ASC 842”). ASC 842 requires a lessee to record a right-of-use asset and a corresponding lease liability for most lease arrangements on the Company's condensed and consolidated balance sheet. Under the standard, disclosure of key information about leasing arrangements to assist users of the condensed and consolidated financial statements with assessing the amount, timing and uncertainty of cash flows arising from leases is required. Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria are met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, the lease term is for a major part of the remaining useful life of the asset or the present value of the lease payments equals or exceeds substantially all of the fair value of the asset. A lease is classified as an operating lease if it does not meet any of these criteria. For all leases at the lease commencement date, a right-of-use asset and a lease liability are recognized. The right-of-use asset represents the right to use the leased asset for the lease term. The lease liability represents the present value of the lease payments under the lease. The right-of-use asset is initially measured at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred if any, less any lease incentives received. All right-of-use assets are reviewed for impairment. The lease liability is initially measured at the present value of the lease payments, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the secured incremental borrowing rate for the same term as the underlying lease. Lease payments included in the measurement of the lease liability comprise the following: the fixed noncancelable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not be terminated early. Lease cost for operating leases consists of the lease payments plus any initial direct costs, primarily brokerage commissions, and is recognized on a straight-line basis over the lease term. Included in lease cost are any variable lease payments incurred in the period that are not included in the initial lease liability and lease payments incurred in the period for any leases with an initial term of 12 months or less. Lease cost for finance leases consists of the amortization of the right-of-use asset on a straight-line basis over the lease term and interest expense determined on an amortized cost basis. The lease payments are allocated between a reduction of the lease liability and interest expense. The Company has made an accounting policy election to not recognize leases with an initial term of 12 months or less within our condensed consolidated balance sheets and to recognize those lease payments on a straight-line basis in our condensed consolidated statements of operations and comprehensive loss over the lease term.
Equipment and Improvements	Equipment and Improvements Equipment and improvements are stated at cost, less accumulated depreciation. For financial reporting purposes, depreciation is recognized using the straight-line method, allocating the cost of the assets over their estimated usefulness from three to five years for network equipment, office equipment, and furniture classified as fixed assets. Estimated Useful Economic Life Leasehold property improvements, right-of-use assets Lesser of lease term or useful life Furniture and office equipment 3 - 5 years Lab equipment 3 years IT equipment 3 years Fair Value Measurement The Company has certain financial assets and liabilities recorded at fair value which have been classified as Level 1, 2 or 3 within the fair value hierarchy as described in the accounting standards for fair value measurements. · Level 1 — Fair values are determined utilizing quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access; · Level 2 — Fair values are determined by utilizing quoted prices for identical or similar assets and liabilities in active markets or other market observable inputs such as interest rates, yield curves and foreign currency spot rates; and · Level 3 — Inputs are unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s financial assets and financial liabilities, which include cash equivalents and marketable securities and accounts payable, have been initially valued at the transaction price, and subsequently revalued at the end of each reporting period, utilizing third-party pricing services. The pricing services utilize industry standard valuation models, including both income and market-based approaches, to determine value.
Marketable Securities	Marketable Securities The Company's marketable securities consist of U.S. Treasury securities with maturities of less than one year which are classified as available-for-sale and included in current assets on the condensed consolidated balance sheets. Available-for-sale debt securities are carried at fair value with unrealized gains and losses reported as a component of stockholders’ (deficit) equity in accumulated other comprehensive income. Realized gains and losses, if any, are included in other income, net in the condensed consolidated statements of operations and comprehensive loss. Available-for-sale securities are reviewed for possible impairment at least quarterly, or more frequently if circumstances arise that may indicate impairment. When the fair value of the securities declines below the amortized cost basis, impairment is indicated and it must be determined whether it is other than temporary. Impairment is considered to be other than temporary if the Company: (i) intends to sell the security, (ii) will more likely than not be forced to sell the security before recovering its cost, or (iii) does not expect to recover the security’s amortized cost basis. If the decline in fair value is considered other than temporary, the cost basis of the security is adjusted to its fair market value and the realized loss is reported.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Property plant estimated useful life	For financial reporting purposes, depreciation is recognized using the straight-line method, allocating the cost of the assets over their estimated usefulness from three to five years for network equipment, office equipment, and furniture classified as fixed assets. Estimated Useful Economic Life Leasehold property improvements, right-of-use assets Lesser of lease term or useful life Furniture and office equipment 3 - 5 years Lab equipment 3 years IT equipment 3 years

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Summery of Fair Value Assets Measured On Recurring Basis	The following table summarizes cash equivalents and marketable securities measured at their fair value on a recurring basis as of September 30, 2024 and December 31, 2023: Fair Value Measurements as of September 30, 2024: Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 86,054 $ — $ — $ 86,054 Total $ 86,054 $ — $ — $ 86,054 Marketable securities, available-for-sale: U.S. Treasury obligations $ 2,330,226 $ — $ — $ 2,330,226 Total $ 2,330,226 $ — $ — $ 2,330,226 Fair Value Measurements as of December 31, 2023: Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 8,039,024 $ — $ — $ 8,039,024 Total $ 8,039,024 $ — $ — $ 8,039,024 Marketable securities, available-for-sale: U.S. Treasury obligations $ 4,086,873 $ — $ — $ 4,086,873 Total $ 4,086,873 $ — $ — $ 4,086,873

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Marketable Securities [Table Text Block]	Marketable securities consisted of the following as of: September 30, 2024 Amortized Cost Unrealized Gain Unrealized Loss Fair Value Marketable securities, available-for-sale: U.S. Treasury obligations $ 2,328,472 $ 1,754 $ — $ 2,330,226 Total $ 2,328,472 $ 1,754 $ — $ 2,330,226 December 31, 2023 Amortized Cost Unrealized Gain Unrealized Loss Fair Value Marketable securities, available-for-sale: U.S. Treasury obligations $ 4,085,996 $ 877 $ — $ 4,086,873 Total $ 4,085,996 $ 877 $ — $ 4,086,873

Equipment and Improvements (Tab

Equipment and Improvements (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule Of Equipment and Improvements	Equipment and Improvements, net September 30, December 31, Furniture and office equipment $ 86,930 $ 86,930 IT equipment 16,895 16,895 103,825 103,825 Less: Accumulated depreciation 50,158 30,453 Total $ 53,667 $ 73,372

Supplemental Condensed Consol_2

Supplemental Condensed Consolidated Balance Sheet Information (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: September 30, December 31, Accrued consulting $ 78,447 $ 49,395 Accrued compensation 653,230 635,451 Accrued research and development 1,416,647 1,472,292 Accrued other 13,050 102,817 Total accrued expenses and other current liabilities $ 2,161,374 $ 2,259,955

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock-Based Compensation Expense for Stock Options Granted to Employees and Non-Employees	The following table summarizes the stock-based compensation expense for stock options granted to employees and non-employees: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Research and development $ 84,370 $ 41,842 $ 94,594 $ 120,718 Selling, general and administrative 63,654 87,939 137,561 257,181 Total stock-based compensation expense $ 148,024 $ 129,781 $ 232,155 $ 377,899

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Summary of Calculation of Basic and Diluted Net Loss Per Share applicable to Common Stockholders	The following table presents the calculation of basic and diluted net loss per share applicable to common stockholders. Basic net loss per share is calculated by dividing net loss attributable to common shareholders by the weighted-average number of shares outstanding during the period which includes Pre-Funded Warrants and shares held in abeyance from date of issuance. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net loss $ ( 5,778,066 ) $ ( 4,595,199 ) $ ( 15,387,309 ) $ ( 14,850,943 ) Denominator: Weighted-average number of common shares outstanding – basic and diluted 8,882,570 6,162,671 7,592,103 5,977,841 Net loss per share applicable to common stockholders – basic and diluted $ ( 0.65 ) $ ( 0.75 ) $ ( 2.03 ) $ ( 2.48 )
Summary of Shares Excluded from Calculation of Diluted Net Loss per Share Applicable to Common Stockholders	The following shares were excluded from the calculation of diluted net loss per share applicable to common stockholders, prior to the application of the treasury stock method, because their effect would have been anti-dilutive for the periods presented: Nine Months Ended September 30, 2024 2023 Options to purchase shares of stock 1,140,280 835,913 Warrants to purchase shares of stock 7,738,040 3,080,090 Total 8,878,320 3,916,003

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Summary Of Future Minimum Lease Payments	Future minimum lease payments under this lease at September 30, 2024, are presented by calendar year as follows: Year 2024 $ 38,322 2025 114,966 Total lease payments 153,288 Less: imputed interest ( 8,078 ) Present value of operating lease liabilities $ 145,210

Liquidity - Additional Informat

Liquidity - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
DisclosureOfGoingConcernLineItems
Accumulated deficit	$ (82,288,034)	$ (66,900,725)
Cash	913,420	9,165,179
Gross proceeds from agent (Private Placement)	110,000,000
Marketable securities	$ 2,330,226	$ 4,086,873

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Summary Of Significant Accounting Policies [Line Items]
Revenue	$ 0		$ 0
Research and Development Expense	4,189,873		$ 10,016,982
Minimum | Office Equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated Useful Lives			three
Maximum | Office Equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated Useful Lives			five
Vendor [Member]
Summary Of Significant Accounting Policies [Line Items]
Research and Development Expense	$ 149,000	$ 19,000	$ 446,000	$ 30,000
Payable balance to vendor			$ 74,000		$ 57,000
Customer Concentration Risk | Sales Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		100%		100%

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - classified as fixed assets useful life (Details)	9 Months Ended
	Sep. 30, 2024
Leasehold property improvements, right of use asset
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	Lesser of lease term or useful life
Furniture and office equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Economic Life	5 years
Estimated Useful Lives	five
Furniture and office equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Economic Life	3 years
Estimated Useful Lives	three
Lab equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Economic Life	3 years
IT equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Economic Life	3 years

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of cash equivalents and marketable securities measured at their fair value (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities, Amortized cost	$ 2,328,472	$ 4,085,996
Fair Value, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents and marketable securities measured at their fair value on a recurring basis	2,330,226	8,039,024
Marketable securities, Amortized cost	86,054	4,086,873
Fair Value, Recurring [Member] | U.S. Treasury obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities, Amortized cost	2,330,226	4,086,873
Fair Value, Recurring [Member] | Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents and marketable securities measured at their fair value on a recurring basis	86,054	8,039,024
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents and marketable securities measured at their fair value on a recurring basis	2,330,226	8,039,024
Marketable securities, Amortized cost	86,054	4,086,873
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | U.S. Treasury obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities, Amortized cost	2,330,226	4,086,873
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents and marketable securities measured at their fair value on a recurring basis	86,054	8,039,024
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents and marketable securities measured at their fair value on a recurring basis	0	0
Marketable securities, Amortized cost	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | U.S. Treasury obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities, Amortized cost	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents and marketable securities measured at their fair value on a recurring basis	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents and marketable securities measured at their fair value on a recurring basis	0	0
Marketable securities, Amortized cost	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | U.S. Treasury obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities, Amortized cost	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents and marketable securities measured at their fair value on a recurring basis	$ 0	$ 0

Marketable Securities - Summary

Marketable Securities - Summary of Marketable Securities (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Marketable securities, available-for-sale:
Marketable securities, Amortized cost	$ 2,328,472	$ 4,085,996
Marketable securities, Unrealized Gain	0	877
Marketable securities, Unrealized Loss	(1,754)	0
Marketable securities, Fair Value	2,330,226	4,086,873
U.S. Treasury obligations
Marketable securities, available-for-sale:
Marketable securities, Amortized cost	2,328,472	4,085,996
Marketable securities, Unrealized Gain		877
Marketable securities, Unrealized Loss	(1,754)	0
Marketable securities, Fair Value	$ 2,330,226	$ 4,086,873

Marketable securities Additiona

Marketable securities Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Gain (Loss) on Securities [Line Items]
Unrealized gain	$ 0	$ 877
Marketable securities, Unrealized Loss	1,754	0
Proceeds from Sale and Maturity of Marketable Securities	12,100,000	41,100,000
Marketable Securities, Realized Gain (Losses)	0	0
U.S. treasury debt securities
Gain (Loss) on Securities [Line Items]
Unrealized gain		877
Marketable securities, Unrealized Loss	$ 1,754	$ 0

Equipment and Improvements - Sc

Equipment and Improvements - Schedule of Equipment and Improvements (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment, Gross	$ 103,825	$ 103,825
Less: Accumulated depreciation	50,158	30,453
Total	53,667	73,372
Furniture and office equipment
Property, Plant and Equipment, Gross	86,930	86,930
IT equipment
Property, Plant and Equipment, Gross	$ 16,895	$ 16,895

Equipment and Improvements Addi

Equipment and Improvements Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 6,568	$ 6,568	$ 19,705	$ 170,830

Supplemental Condensed Consol_3

Supplemental Condensed Consolidated Balance Sheet Information - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued consulting	$ 78,447	$ 49,395
Accrued compensation	653,230	635,451
Accrued research and development	1,416,647	1,472,292
Accrued other	13,050	102,817
Total accrued expenses and other current liabilities	$ 2,161,374	$ 2,259,955

ATM Program Additional Informat

ATM Program Additional Information (Details) - H.C. Wainwright & Co., LLC [Member] - Wainwright Agreement [Member] - Common Stock - USD ($) shares in Millions	May 20, 2024	Feb. 01, 2024
Marketable Securities [Line Items]
Common stock Aggregate offering price	$ 50,000
Number of shares sold		5.7

Notes Payable - Additional Info

Notes Payable - Additional Information (Details) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Common stock, par value	$ 0.001	$ 0.001

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) - Additional Information (Details)			3 Months Ended	9 Months Ended
	May 20, 2024 USD ($) $ / shares shares	Feb. 01, 2024	Mar. 31, 2023 USD ($)	Sep. 30, 2024 USD ($) Vote shares	Sep. 30, 2023 USD ($)
Class Of Stock [Line Items]
Votes per each common stock share | Vote				1
Common stock shares reserved for issuance				3,337,435
Net proceeds from agent (Private Placement) | $				$ 110,000,000
Proceeds from issuance of common stock, pre-funded warrants and warrants, net of issuance costs | $			$ 1,000,000	$ 3,793,209	$ 8,543,107
Initial fair value of Warrants | $			$ 1,800,000
Warrant [Member]
Class Of Stock [Line Items]
Common warrants issued for purchase of common shares	710,000			247,925
Securities purchase agreements [Member] | Warrant [Member]
Class Of Stock [Line Items]
Issuance of common stock for services, Shares	714,527
Sale of common stock | $ / shares	$ 1.68
Warrants exercise price | $ / shares	$ 0.0001
Common warrants issued for purchase of common shares	957,925
Proceeds from issuance of common stock, pre-funded warrants and warrants, net of issuance costs | $	$ 2,200,000
Securities purchase agreements [Member] | Warrant [Member] | Series A [Member]
Class Of Stock [Line Items]
Warrants exercise price | $ / shares	$ 1.68
Common warrants issued for purchase of common shares	1,672,452
Securities purchase agreements [Member] | Warrant [Member] | Series B [Member]
Class Of Stock [Line Items]
Warrants exercise price | $ / shares	$ 1.68
Common warrants issued for purchase of common shares	1,672,452
Warrant Inducement Agreement [Member] | Series C [Member]
Class Of Stock [Line Items]
Warrants exercise price | $ / shares	$ 1.68
Common warrants issued for purchase of common shares	1,229,484
Warrant Inducement Agreement [Member] | Common Stock
Class Of Stock [Line Items]
Warrants exercise price | $ / shares	$ 1.68
Common warrants issued for purchase of common shares	708,500
Warrant Inducement Agreement [Member] | Common Stock | Series C [Member]
Class Of Stock [Line Items]
Common warrants issued for purchase of common shares	708,500
Warrant Inducement Agreement [Member] | Common Stock | Series D [Member]
Class Of Stock [Line Items]
Warrants exercise price | $ / shares	$ 1.68
Common warrants issued for purchase of common shares	708,500
H.C. Wainwright & Co., LLC [Member] | Wainwright Agreement [Member]
Class Of Stock [Line Items]
Agent commission percentage of aggreagate gross proceeds		3%
Number of shares sold				315,338
Net proceeds from agent (Private Placement) | $				$ 820,509

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock compensation expense	$ 148,024	$ 129,781	$ 232,155	$ 377,899
Board of Director Member
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of stock options granted			308,039	86,669
Stock option, strike price	$ 1.89	$ 2.81	$ 1.89	$ 2.81
Performance-based options, Granted			45,000	25,000
Performance-based options, weighted average strike price			$ 2.16	$ 1.33
Employee
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock option, aggregate grant date fair value	$ 489,108	$ 338,741	$ 489,108	$ 338,741

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Expense for Stock Options Granted to Employees and Non-Employees (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 148,024	$ 129,781	$ 232,155	$ 377,899
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	84,370	41,842	94,594	120,718
Selling, General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 63,654	$ 87,939	$ 137,561	$ 257,181

Warrants - Additional Informati

Warrants - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Class Of Warrant Or Right [Line Items]
Initial fair value of Warrants	$ 1.8

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Calculation of Basic and Diluted Net Loss Per Share applicable to Common Stockholders (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net Income (Loss)	$ (5,778,066)	$ (4,959,608)	$ (4,649,635)	$ (4,595,199)	$ (5,777,966)	$ (4,477,778)	$ (15,387,309)	$ (14,850,943)
Denominator:
Weighted average number of common share basic	8,882,570						7,592,103
Weighted average number of common share diluted	8,882,570						7,592,103
Net loss per share applicable to common stockholders - basic	$ (0.65)						$ (2.03)
Net loss per share applicable to common stockholders - diluted	$ (0.65)						$ (2.03)
As Adjusted
Numerator:
Net Income (Loss)				$ (4,595,199)				$ (14,850,943)
Denominator:
Weighted average number of common share basic				6,162,671				5,977,841
Weighted average number of common share diluted				6,162,671				5,977,841
Net loss per share applicable to common stockholders - basic				$ (0.75)				$ (2.48)
Net loss per share applicable to common stockholders - diluted				$ (0.75)				$ (2.48)

Net Loss Per Share - Summary _2

Net Loss Per Share - Summary of Shares Excluded from Calculation of Diluted Net Loss per Share Applicable to Common Stockholders (Details) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive shares excluded from calculation of diluted net loss per share	8,878,320	3,916,003
Options to Purchase Shares of Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive shares excluded from calculation of diluted net loss per share	1,140,280	835,913
Warrants to Purchase Shares of Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive shares excluded from calculation of diluted net loss per share	7,738,040	3,080,090

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies_2

Commitments and Contingencies (Additional Information) (Details) - USD ($)		3 Months Ended		9 Months Ended
	Apr. 18, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Loss Contingencies [Line Items]
Collaboration agreement description				“First dosing of patient in US phase 1 trial”; (ii) “US Phase 1 trial completion with endpoints met”; and (iii) “US Phase 2 trial completion with endpoints met”
Right-of-use asset		$ 133,105		$ 133,105		$ 222,227
Lease term	3 years
Lease Expense		35,296	$ 35,296	105,887	$ 105,887
ShortTerm Lease Payments		5,521	$ 5,788	16,827	$ 17,364
Present value of operating lease liabilities		145,210		145,210
Prepaid Expenses and Other Current Assets [Member]
Loss Contingencies [Line Items]
Security deposit		25,000		25,000
Settlement Agreement
Loss Contingencies [Line Items]
Milestone payments		500,000		500,000
Collaboration Agreement [Member]
Loss Contingencies [Line Items]
Milestone payments		1,625,000		1,625,000
Phase1 | Collaboration Agreement [Member]
Loss Contingencies [Line Items]
Milestone payments		4,400,000		4,400,000
Phase 2 | Collaboration Agreement [Member]
Loss Contingencies [Line Items]
Milestone payments		$ 4,000,000		$ 4,000,000
Lexington
Loss Contingencies [Line Items]
Lease Expiration Date	Sep. 30, 2025
Lessee, Operating Lease, Discount Rate		12%		12%
Right-of-use asset		$ 133,105		$ 133,105
Lessor, Operating Lease, Description				The Office Lease contains escalating payments during the lease period. Upon execution of the Office Lease, the Company prepaid one month of rent and a security deposit, one of which will be held in escrow and credited at the termination of the lease and the other of which will be applied to the first month’s rent.
Present value of operating lease liabilities		$ 145,210		$ 145,210

Commitments and Contingencies -

Commitments and Contingencies - Summary of Future minimum lease payments (Details)	Sep. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 38,322
2025	114,966
Total lease payments	153,288
Less: imputed interest	$ (8,078)
Present value of operating lease liabilities	Present value of operating lease liabilities
Present value of operating lease liabilities	$ 145,210

Correction of Prior Period Imma

Correction of Prior Period Immaterial Error - Schedule of Error Corrections and Prior Period Adjustments (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Income (Loss)	$ (5,778,066)	$ (4,959,608)	$ (4,649,635)	$ (4,595,199)	$ (5,777,966)	$ (4,477,778)	$ (15,387,309)	$ (14,850,943)
Weighted average number of common share basic	8,882,570						7,592,103
Weighted average number of common share diluted	8,882,570						7,592,103
Net loss per share applicable to common stockholders - basic	$ (0.65)						$ (2.03)
Net loss per share applicable to common stockholders - diluted	$ (0.65)						$ (2.03)
As Adjusted
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Income (Loss)				$ (4,595,199)				$ (14,850,943)
Weighted average number of common share basic				6,162,671				5,977,841
Weighted average number of common share diluted				6,162,671				5,977,841
Net loss per share applicable to common stockholders - basic				$ (0.75)				$ (2.48)
Net loss per share applicable to common stockholders - diluted				$ (0.75)				$ (2.48)

Subsequent Event (Additional In

Subsequent Event (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Millions		9 Months Ended
	Oct. 21, 2024	Sep. 30, 2024	Nov. 01, 2024	May 20, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Net proceeds from agent (Private Placement)		$ 110
Common stock, shares outstanding		7,464,070			6,186,280
Warrant [Member]
Subsequent Event [Line Items]
Common warrants issued for purchase of common shares		247,925		710,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Net proceeds from agent (Private Placement)	$ 110
Common stock, shares outstanding			67,192,570
Pre-funded warrants outstanding			21,985,000
Subsequent Event [Member] | Maximum
Subsequent Event [Line Items]
Net proceeds from agent (Private Placement)	$ 275
Series A-1 Warrants [Member]
Subsequent Event [Line Items]
Warrants exercise price	$ 1.37
Series B-1 Warrants [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Warrants exercise price	$ 1.49
October 2024 Offering [Member]
Subsequent Event [Line Items]
Issuance of common stock for services, Shares	58,310,000
October 2024 Offering [Member] | Warrant [Member]
Subsequent Event [Line Items]
Common warrants issued for purchase of common shares	21,985,000
Warrants exercise price	$ 0.001
October 2024 Offering [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Sale of common stock	$ 1.37
October 2024 Offering [Member] | Series A-1 Warrants [Member] | Warrant [Member]
Subsequent Event [Line Items]
Common warrants issued for purchase of common shares	40,139,474
Warrants exercise price	$ 1.37
October 2024 Offering [Member] | Series B-1 Warrants [Member] | Warrant [Member]
Subsequent Event [Line Items]
Common warrants issued for purchase of common shares	73,813,529
Warrants exercise price	$ 1.37