Lantern Pharma (LTRN) 10-Q 9 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 03, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-39318
Entity Registrant Name	Lantern Pharma Inc.
Entity Central Index Key	0001763950
Entity Tax Identification Number	46-3973463
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1920 McKinney Avenue
Entity Address, Address Line Two	7th Floor
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75201
City Area Code	(972)
Local Phone Number	277-1136
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	LTRN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,857,040

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 32,478,770	$ 37,201,786
Restricted cash	541,180	541,180
Marketable securities	19,061,281	17,994,299
Prepaid expenses & other current assets	3,086,331	2,985,472
Total current assets	55,167,562	58,722,737
Property and equipment, net	53,466	48,008
Operating lease right-of-use assets	255,320	47,687
Other assets	32,969	17,889
TOTAL ASSETS	55,509,317	58,836,321
CURRENT LIABILITIES
Accounts payable and accrued expenses	2,673,603	2,745,407
Operating lease liabilities, current	119,584	52,890
Total current liabilities	2,793,187	2,798,297
Operating lease liabilities, net of current portion	140,632
TOTAL LIABILITIES	2,933,819	2,798,297
COMMITMENTS AND CONTINGENCIES (NOTE 4)
STOCKHOLDERS’ EQUITY
Preferred Stock (1,000,000 authorized at March 31, 2023 and December 31, 2022; $.0001 par value) (Zero shares issued and outstanding at March 31, 2023 and December 31, 2022)
Common Stock (25,000,000 authorized at March 31, 2023 and December 31, 2022; $.0001 par value) (10,857,040 shares issued and outstanding at March 31, 2023 and December 31, 2022)	1,086	1,086
Additional paid-in capital	96,024,724	95,691,194
Accumulated other comprehensive loss	(299,677)	(371,386)
Accumulated deficit	(43,150,635)	(39,282,870)
Total stockholders’ equity	52,575,498	56,038,024
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 55,509,317	$ 58,836,321

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	25,000,000	25,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares issued	10,857,040	10,857,040
Common stock, shares outstanding	10,857,040	10,857,040

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating expenses:
General and administrative	$ 1,733,321	$ 1,406,160
Research and development	2,552,947	2,660,237
Total operating expenses	4,286,268	4,066,397
Loss from operations	(4,286,268)	(4,066,397)
Interest income	133,782	22,421
Other income (expense), net	284,721	(77,798)
NET LOSS	$ (3,867,765)	$ (4,121,774)
Net loss per share of common shares, basic and diluted	$ (0.36)	$ (0.38)
Weighted-average number of common shares outstanding, basic and diluted	10,857,040	10,875,777

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
NET LOSS	$ (3,867,765)	$ (4,121,774)
Other comprehensive loss
Unrealized gain (loss) on available-for-sale securities	50,773	(212,488)
Unrealized gain (loss) on foreign currency translation	20,936	(6,292)
Other comprehensive gain (loss)	71,709	(218,780)
Comprehensive loss	$ (3,796,056)	$ (4,340,554)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2021		$ 1,109	$ 96,685,924	$ (92,689)	$ (25,022,924)	$ 71,571,420
Balance, shares at Dec. 31, 2021		11,088,835
Common stock issued from warrant and option exercises		$ 10	299,778			299,788
Common stock issued from warrant and option exercises, shares		95,779
Stock-based compensation			267,004			267,004
Share repurchases		$ (36)	(2,482,250)			(2,482,286)
Share repurchases, shares		(353,667)
Net loss					(4,121,774)	(4,121,774)
Other comprehensive gain (loss)				(218,780)		(218,780)
Balance at Mar. 31, 2022		$ 1,083	94,770,456	(311,469)	(29,144,698)	65,315,372
Balance, shares at Mar. 31, 2022		10,830,947
Balance at Dec. 31, 2022		$ 1,086	95,691,194	(371,386)	(39,282,870)	56,038,024
Balance, shares at Dec. 31, 2022		10,857,040
Stock-based compensation			333,530			333,530
Net loss					(3,867,765)	(3,867,765)
Other comprehensive gain (loss)				71,709		71,709
Balance at Mar. 31, 2023		$ 1,086	$ 96,024,724	$ (299,677)	$ (43,150,635)	$ 52,575,498
Balance, shares at Mar. 31, 2023		10,857,040

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (3,867,765)	$ (4,121,774)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	3,418	1,989
Non-cash lease adjustments	40,025	36,151
Stock-based compensation	333,530	267,004
Amortization (accretion) of investment premiums (discount)	(60,018)	51,400
Foreign currency remeasurement loss (gain)	38,194	(22,110)
Realized loss on redemptions of marketable securities	37,960
Unrealized (gain) loss on equity securities	(42,150)	195,950
Changes in assets and liabilities:
Prepaid expenses and other current assets	(117,638)	(440,165)
Accounts payable and accrued expenses	(67,300)	742,523
Operating lease liabilities	(40,332)	(38,698)
Other assets	(15,080)
Net cash flows used in operating activities	(3,757,156)	(3,327,730)
INVESTING ACTIVITIES
Purchase of fixed assets	(8,876)
Purchases of marketable securities	(3,102,001)
Redemptions of marketable securities	2,150,000	176,519
Net cash flows (used in) / provided by investing activities	(960,877)	176,519
FINANCING ACTIVITIES
Repurchase of shares including commissions		(2,482,286)
Proceeds from stock option and warrant exercises		299,788
Net cash flows used in financing activities		(2,182,498)
Effect of foreign exchange rates on cash	(4,983)	2,278
CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH FOR THE PERIOD	(4,723,016)	(5,331,431)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	37,742,966	52,524,295
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	33,019,950	47,192,864
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	32,478,770	46,651,684
Restricted cash	541,180	541,180
Non-cash investing and financing activities
Operating lease right-of-use asset acquired through operating lease liability	48,811
Remeasurement of operating lease right-of-use asset and operating lease liability	198,847
Unrealized gain (loss) on debt securities	$ 50,773	$ (212,488)

Organization, Principal Activit

Organization, Principal Activities, and Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Principal Activities, and Basis of Presentation	Note 1. Organization, Principal Activities, and Basis of Presentation Lantern Pharma Inc., and Subsidiaries (the “Company”) is a clinical stage biopharmaceutical company, focused on leveraging artificial intelligence (“A.I.”), machine learning and genomic data to streamline the drug development process and to identify the patients that will benefit from its targeted oncology therapies. The Company’s portfolio of therapies consists of small molecule drug candidates that others have tried, but failed, to develop into an approved commercialized drug, as well as new compounds that it is developing with the assistance of its A.I. platform and its biomarker driven approach. The Company’s A.I. platform, known as RADR ® Lantern Pharma Inc. was incorporated under the laws of the state of Texas on November 7, 2013, and thereafter reincorporated in the state of Delaware on January 15, 2020. The Company’s principal operations are located in Texas. The Company formed a wholly owned subsidiary, Lantern Pharma Limited, in the United Kingdom in July 2017 and a wholly owned subsidiary, Lantern Pharma Australia Pty Ltd, in Australia in September 2021. In January 2023, the Company formed a wholly owned subsidiary, Starlight Therapeutics Inc. (“Starlight”), to continue with advancing the development of drug candidate LP-184’s central nervous system (CNS) and brain cancer indications. Since inception, the Company has devoted substantially all its activity to advancing research and development, including efforts in connection with preclinical studies, clinical trials and development of its RADR ® ● LP-300 (Tavocept), which we are currently advancing in a Phase II clinical trial, the Harmonic ™ ● LP-100 (irofulven) is in clinical development with a focus on treatment in combination with PARP inhibitors; ● LP-184 is advancing towards launch of a phase I clinical trial, and has potential for treatment of solid tumors including pancreatic, prostate, and bladder cancers, and glioblastoma and other CNS cancers. Following the formation of Starlight, the Company now refers to the molecule LP-184, as it is developed in CNS indications, as “STAR-001”; ● LP-284, the stereoisomer (enantiomer) of LP-184, is advancing towards launch of a phase I clinical trial, and has shown promising in-vitro in vivo ● Our ADC program is aimed at identifying targeted or therapeutic antibodies to conjugate with selected compounds. The Company’s fiscal year ends on December 31 of each calendar year. The accompanying interim condensed consolidated financial statements are unaudited and have been prepared on substantially the same basis as the Company’s annual consolidated financial statements for the fiscal year ended December 31, 2022. In the opinion of the Company’s management, these interim condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement of the Company’s financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting periods. Actual results could differ from these estimates. The December 31, 2022 year-end condensed consolidated balance sheet data in the accompanying interim condensed consolidated financial statements was derived from audited consolidated financial statements. These condensed consolidated financial statements and notes do not include all disclosures required by U.S. generally accepted accounting principles and should be read in conjunction with the Company’s audited consolidated financial statements as of and for the year ended December 31, 2022 and the notes thereto included in the Company’s Annual Report on Form 10-K, dated March 20, 2023, on file with the Securities and Exchange Commission. The results of operations and cash flows for the interim periods included in these condensed consolidated financial statements are not necessarily indicative of the results to be expected for any future period or the entire fiscal year. Any reference in these notes to applicable guidance refers to Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). To date, the Company has operated its business as one segment. The Company’s condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Lantern Pharma Limited, Lantern Pharma Australia Pty Ltd. and Starlight Therapeutics Inc. All intercompany balances and transactions have been eliminated in consolidation.

Liquidity

Liquidity	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity	Note 2. Liquidity The Company incurred a net loss of approximately $ 3,868,000 4,122,000 52,374,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3. Summary of Significant Accounting Policies Use of Estimates and Assumptions The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The significant areas of estimation include determining research and development accruals, the inputs in determining the fair value of equity-based awards and warrants issued, the inputs in determining present value of lease payments, and determining the fair value of marketable securities. Actual results could differ from those estimates. Risks and Uncertainties The Company operates in an industry that is subject to intense competition, government regulation and rapid technological change. Operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory, and other risks, including the potential risk of business failure. A continuance or resurgence of the COVID-19 pandemic (or the occurrence of another epidemic or infectious disease outbreak) or its impact on the overall economy could in the future have a material impact on our business. Our marketable securities have had and may in the future have their market value fluctuate due to rises or falls in interest rates. While we believe our cash, cash equivalents and marketable securities do not contain excessive risk, we cannot provide absolute assurance that in the future our investments will not be subject to adverse changes in market value. In addition, we maintain significant amounts of cash and cash equivalents at one or more financial institutions that are federally insured. Interest bearing and non-interest bearing accounts we hold at these banking institutions are guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000 Research and Development Research and development costs are expensed as incurred. These expenses primarily consist of payroll, contractor expenses, research study expenses, costs for manufacturing and supplies, clinical site costs and other costs for the conduct of clinical trials, and technical infrastructure on the cloud for the purposes of developing the Company’s RADR ® Cash and Cash Equivalents The Company considers money market funds and other highly liquid instruments with a short-term maturity of 3 months or less to be cash equivalents. Cash equivalents at March 31, 2023 and December 31, 2022 were approximately $ 17,237,000 1,271,000 Restricted Cash The Company considers cash held in escrow for the purposes of contractual contingencies to be restricted cash. All of the restricted cash at March 31, 2023 and December 31, 2022 relates to escrow amounts paid in connection with the Asset Purchase Agreement entered into by the Company and Allarity Therapeutics in July 2021 (See Note 4) and is considered a current asset at March 31, 2023, as the milestones that could require payments to be made to Allarity Therapeutics must be satisfied within the next 12 months. Leases The Company determines whether an arrangement contains a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current portion of operating lease liabilities, and net of current portion of operating lease liabilities on our consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As the Company’s leases do not provide an implicit rate, an incremental borrowing rate is used based on the information available at the commencement date in determining the present value of lease payments. The Company does not include options to extend or terminate the lease term unless it is reasonably certain that the Company will exercise any such options. Rent expense is recognized under the operating leases on a straight-line basis. The Company does not recognize right-of-use assets or lease liabilities for short-term leases, which have a lease term of twelve months or less, and instead will recognize lease payments as expense on a straight-line basis over the lease term. Marketable Securities The Company’s marketable securities consist of government and agency securities, corporate bonds, and mutual funds. We classify our marketable securities as available-for-sale at the time of purchase and reevaluate such classification as of each balance sheet date. We may sell these securities at any time for use in current operations even if they have not yet reached maturity. As a result, we classify our investments, including securities with maturities beyond twelve months, as current assets in the accompanying condensed consolidated balance sheets. Available-for-sale debt securities are recorded at fair value each reporting period. Unrealized gains and losses are excluded from earnings and recorded as a separate component within “Accumulated other comprehensive income” or “Accumulated other comprehensive loss” on the condensed consolidated balance sheets until realized. Interest is reported within “Interest income” and dividend income is reported within “Other income (expense), net” on the condensed consolidated statements of operations. We evaluate our investments to assess whether the amortized cost basis is in excess of estimated fair value and determine what amount of that difference, if any, is caused by expected credit losses. Allowance for credit losses are recognized as a charge in “Other income (expense), net” on the condensed consolidated statements of operations, and any remaining unrealized losses are included in “Accumulated other comprehensive loss” on the condensed consolidated balance sheets. There were no credit losses recorded for the three months ended March 31, 2023 and 2022. There was no impairment charge for any unrealized losses for the three months ended March 31, 2023 and 2022. We determine realized gains and losses on the sale of marketable securities based on the specific identification method and record such gains and losses in “Other income (expense), net” on the condensed consolidated statements of operations. Recently Adopted Accounting Standard Current Expected Credit Loss In June 2016 the FASB issued Accounting Standard Update (ASU) 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326). This introduces new methodology for recognition of credit losses - the current expected credit loss (“CECL”) method. The CECL method requires the recognition of all losses expected over the life of a financial instrument upon origination or purchase of the instrument, unless the company elects to recognize such instruments at fair value with changes in profit and loss. CECL was adopted on January 1, 2023 and had no impact on the Company’s condensed consolidated financial statements.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 4. Commitments and Contingencies General The Company has entered into, and expects to enter into from time to time in the future, license agreements, strategic alliance agreements, assignment agreements, research service agreements, and similar agreements related to the advancement of its product candidates and research and development efforts. Significant agreements (collectively, the “License, Strategic Alliance, and Research Agreements”) are described in detail in the Company’s 2022 Form 10-K. While specific amounts will fluctuate from quarter to quarter based on clinical trials progress, advancement and completion of research studies and manufacturing projects, and other factors, the Company believes its overall activities regarding License, Strategic Alliance, and Research Agreements are materially consistent with those described in the 2022 Form 10-K. In addition to the specific agreements described in the 2022 Form 10-K, the Company has entered into, and will in the future enter into, other research and service provider agreements for the advancement of its product candidates and research and development efforts. The Company expects to pay additional amounts in future periods in connection with existing and future research and service provider agreements. Set forth below are the approximate amounts expensed for License, Strategic Alliance, and Research Agreements during the three months ended March 31, 2023 and 2022, respectively. These expensed amounts are included under research and development expenses in the accompanying condensed consolidated statements of operations. Schedule of Research and Development Three Months Ended March 31, 2023 2022 Amount Expensed for License, Strategic Alliance, and Research Agreements $ 1,248,000 $ 1,858,000 Set forth below at March 31, 2023 and December 31, 2022, respectively, are (1) the approximate amounts accrued and payable under License, Strategic Alliance, and Research Agreements, and (2) the approximate amount of prepaid expenses and other current assets under License, Strategic Alliance, and Research Agreements. These amounts are included in the accompanying condensed consolidated balance sheets. Schedule of Accounts Payable and Accrued Liabilities March 31, 2023 December 31, 2022 Amount accrued and payable under License, Strategic Alliance, and Research Agreements $ 1,487,000 $ 1,813,000 Prepaid expenses and other current assets under License, Strategic Alliance, and Research Agreements $ 1,560,000 $ 1,595,000 EU Grant In September 2018, Lantern Pharma Limited, a wholly owned subsidiary of Lantern Pharma Inc., was awarded a grant by the UK government in the form of state aid under the Commission Regulations (EU) No. 651/2014 of 17 June 2014 (the “General Block Exemption”), Article 25 Aid for research and development projects, state aid notification no. SA.40154. The grant was awarded to conduct research and development activities for the prostate cancer biomarker analysis of the LP-184 drug candidate. Following the Company’s research and development activities in Northern Ireland, the grant will reimburse the Company 50 24,215 No Actuate Therapeutics In May 2021, the Company entered into a Collaboration Agreement with Actuate Therapeutics, Inc. (“Actuate”), a clinical stage private biopharmaceutical company focused on the development of compounds for use in the treatment of cancer, and inflammatory diseases leading to fibrosis. Pursuant to the agreement, the Company and Actuate are collaborating on utilization of the Company’s RADR ® 25,000 restricted shares of Actuate stock, subject to meeting certain conditions of the collaboration, as well as the potential to receive additional Actuate stock if results from the collaboration are utilized in future development efforts. In 2022, the term of the Collaboration Agreement was extended to continue until March 31, 2023. The Company is currently in discussions with Actuate to extend the Collaboration Agreement. Leslie W. Kreis, Jr., a director of the Company until June 8, 2022, is also a director of Actuate. Certain affiliates of Bios Partners beneficially own greater than 10% of the Company’s common stock and also hold substantial beneficial ownership interests in Actuate. Through March 31, 2023, no revenues have been recognized under the Collaboration Agreement. The restricted shares of Actuate stock had a nominal value when acquired and, therefore, were recorded at a cost of $ 0

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases
Leases	Note 5. Leases The operating lease cost recognized in general and administrative expenses in our consolidated statements of operations was approximately $ 42,000 39,000 The following provides balance sheet information related to leases as of March 31, 2023 and December 31, 2022: Schedule of Balance Sheet Information Related to Leases March 31, 2023 December 31, 2022 Assets Operating lease, right-of-use asset, net $ 255,320 $ 47,687 Liabilities Current portion of operating lease liabilities $ 119,584 $ 52,890 Operating lease liabilities, net of current portion 140,632 - Total operating lease liabilities $ 260,216 $ 52,890 At March 31, 2023, the future estimated minimum lease payments under non-cancelable operating leases are as follows: Schedule of Future Estimated Minimum Lease Payments Under Non-cancelable Operating Leases 2023 (remaining nine months) $ 102,212 2024 134,118 2025 45,431 Total minimum lease payments 281,761 Less amount representing interest (21,545 ) Present value of future minimum lease payments 260,216 Less current portion of operating lease liabilities (119,584 ) Operating lease liabilities, net of current portion $ 140,632 In April 2021, the Company entered into two operating leases for office space that commenced in May 2021. The leases expire in April 2023 The following table provides a reconciliation for our operating right-of-use assets and operating lease liabilities: Schedule of Reconciliation of Right-of-Use Assets and lease Liabilities Operating Right-of- Use Assets Operating Lease Liabilities Balance at December 31, 2022 $ 47,687 $ 52,890 Remeasurement of operating lease right-of-use assets and operating lease liability 198,847 198,847 Operating right-of-use asset acquired through operating lease liability 48,811 48,811 Amortizations and reductions (40,025 ) (40,332 ) Balance at March 31, 2023 $ 255,320 $ 260,216 Other supplemental information related to operating leases is as follows: Schedule of Other Supplemental Information Related to Operating Leases 2023 2022 As of March 31, 2023 2022 Weighted average remaining term of operating leases (in years) 2.04 1.08 Weighted average discount rate of operating leases 7.44 % 4.65 % The Company also leased office space in Dallas, Texas under month-to-month lease arrangements during the three months ended March 31, 2023 and 2022. Under these short-term leases, the Company elected the short-term lease measurement and recognition exemption under ASC 842 and recorded rent expense as incurred. In January 2023, the Company entered into a new two-year operating lease agreement for office space that commences in May 2023. The lease requires monthly rent payments of $ 4,095 4,254

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stockholders’ Equity	Note 6. Stockholders’ Equity Common Stock In November 2021, the Company’s Board of Directors authorized a share repurchase program to acquire up to $ 7,000,000 353,667 2,482,000 During the three months ended March 31, 2022, the Company issued 95,779 300,000 3.13 As of March 31, 2023 and December 31, 2022, the Company had 25,000,000 10,857,040 Warrants During the three months ended March 31, 2022, the Company issued 95,779 177,998 9.27 March 7, 2024 June 10, 2025 Options The Company recorded stock-based compensation of approximately $ 334,000 267,000 A summary of stock option activity under the Lantern Pharma Inc. 2018 Equity Incentive Plan, as amended and restated (the “Plan”), during the three months ended March 31, 2023 is presented below: Schedule of Stock Option Activity Options Outstanding Number of Shares Weighted- Average Exercise Price Per Share Outstanding December 31, 2022 1,037,591 $ 6.46 Granted 70,000 4.92 Cancelled or expired (12,545 ) 13.04 Outstanding March 31, 2023 1,095,046 $ 6.28 Options were exercisable for 790,115 6.01 During the three months ended March 31, 2022, no no no

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 31, 2023
Cash and Cash Equivalents [Abstract]
Marketable Securities	Note 7. Marketable Securities At March 31, 2023, marketable securities consisted of the following: Schedule of Marketable of Securities Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Government & Agency Securities $ 4,922,640 $ 42 $ (150,408 ) $ 4,772,274 Corporate Bonds 8,982,238 - (188,181 ) 8,794,057 Marketable Securities – Debt 13,904,878 42 (338,589 ) 13,566,331 Mutual Funds – Fixed Income 4,002,704 - (311,504 ) 3,691,200 Mutual Funds – Alternative Investments 2,023,154 - (219,404 ) 1,803,750 Marketable Securities – Mutual Funds 6,025,858 - (530,908 ) 5,494,950 $ 19,930,736 $ 42 $ (869,497 ) $ 19,061,281 The contractual maturities of the investments classified as Government & Agency Securities and Corporate Bonds are as follows: Schedule of Contractual Maturities Investments of Marketable Securities As of March 31, 2023 Due within one year $ 8,478,765 Due in one to two years 4,804,510 Due in two to five years 283,056 Total $ 13,566,331 The following table presents gross unrealized losses and fair values for those marketable securities that were in an unrealized loss position as of March 31, 2023, aggregated by investment category and the length of time that individual securities have been in a continuous loss position: Schedule of Gross Unrealized Losses and Fair Values for Marketable Securities As of March 31, 2023 Less than 12 months More than 12 months Fair Value Unrealized Loss Fair Value Unrealized Loss Government & Agency Securities $ 1,196,670 $ (27,503 ) $ 2,829,984 $ (122,905 ) Corporate Bonds 4,300,603 (42,461 ) 4,493,454 (145,720 ) Mutual Funds – Fixed Income - - 3,691,200 (311,504 ) Mutual Funds – Alternative Investments - - 1,803,750 (219,404 ) $ 5,497,273 $ (69,964 ) $ 12,818,388 $ (799,533 ) We do not believe the unrealized losses represent credit losses based on our evaluation of available evidence as of March 31, 2023, which includes an assessment of whether it is more likely than not we will be required to sell the investment before recovery of the investment’s amortized cost basis.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8. Fair Value Measurements We determine the fair values of our financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value assumes that the transaction to sell the asset or transfer the liability occurs in the principal or most advantageous market for the asset or liability and establishes that the fair value of an asset or liability shall be determined based on the assumptions that market participants would use in pricing the asset or liability. The classification of a financial asset or liability within the hierarchy is based upon the lowest level input that is significant to the fair value measurement. The fair value hierarchy prioritizes the inputs into three levels that may be used to measure fair value: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 - Inputs are unobservable inputs based on our assumptions. Financial Assets When available, our marketable securities are valued using quoted prices for identical instruments in active markets. If we are unable to value our marketable securities using quoted prices for identical instruments in active markets, we value our investments using broker reports that utilize quoted market prices for comparable instruments. As of March 31, 2023 our available-for-sale debt securities were valued through use of quoted prices for comparable instruments in active markets and are classified as Level 2, and our mutual funds – alternative investments were valued using NAV, net asset value per share, under the practical expedient methodology. Based on our valuation of our marketable securities, we concluded that they are classified in either Level 2 or NAV, and we have no financial assets measured using Level 1 or 3 inputs. The following table presents information about our assets that are measured at fair value on a recurring basis using the above input categories. Schedule of Assets are Measured at Fair Value on Recurring Basis Description Total Level 1 Level 2 Level 3 NAV * Fair Value Measurements as of March 31, 2023 Description Total Level 1 Level 2 Level 3 NAV* Government & Agency Securities $ 4,772,274 $ - $ 4,772,274 $ - $ - Corporate Bonds 8,794,057 - 8,794,057 - - Mutual Funds – Fixed Income 3,691,200 - 3,691,200 - - Mutual Funds – Alternative Investments 1,803,750 - - - 1,803,750 Fair value recurring basis $ 19,061,281 $ - $ 17,257,531 $ - $ 1,803,750 * Certain marketable securities investments are measured at fair value using net asset value per share under the practical expedient methodology.

Loss Per Share of Common Shares

Loss Per Share of Common Shares	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Loss Per Share of Common Shares	Note 9. Loss Per Share of Common Shares Basic loss per share is derived by dividing net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during each period. Diluted loss per share includes the effect, if any, from the potential exercise or conversion of securities, such as warrants and stock options, which would result in the issuance of incremental shares of common stock unless such effect is anti-dilutive. In calculating the basic and diluted net loss per share applicable to common stockholders, the weighted average number of shares remained the same for both calculations due to the fact that when a net loss exists, dilutive shares are not included in the calculation. Potentially dilutive securities outstanding that have been excluded from diluted loss per share due to being anti-dilutive include the following: Schedule of Anti-dilutive Securities Outstanding Diluted Loss Per Share Outstanding at March 31, 2023 2022 Warrants to purchase Common Stock 177,998 177,998 Stock options 1,095,046 890,826 Anti-dilutive securities 1,273,044 1,068,824

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The significant areas of estimation include determining research and development accruals, the inputs in determining the fair value of equity-based awards and warrants issued, the inputs in determining present value of lease payments, and determining the fair value of marketable securities. Actual results could differ from those estimates.
Risks and Uncertainties	Risks and Uncertainties The Company operates in an industry that is subject to intense competition, government regulation and rapid technological change. Operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory, and other risks, including the potential risk of business failure. A continuance or resurgence of the COVID-19 pandemic (or the occurrence of another epidemic or infectious disease outbreak) or its impact on the overall economy could in the future have a material impact on our business. Our marketable securities have had and may in the future have their market value fluctuate due to rises or falls in interest rates. While we believe our cash, cash equivalents and marketable securities do not contain excessive risk, we cannot provide absolute assurance that in the future our investments will not be subject to adverse changes in market value. In addition, we maintain significant amounts of cash and cash equivalents at one or more financial institutions that are federally insured. Interest bearing and non-interest bearing accounts we hold at these banking institutions are guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000
Research and Development	Research and Development Research and development costs are expensed as incurred. These expenses primarily consist of payroll, contractor expenses, research study expenses, costs for manufacturing and supplies, clinical site costs and other costs for the conduct of clinical trials, and technical infrastructure on the cloud for the purposes of developing the Company’s RADR ®
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers money market funds and other highly liquid instruments with a short-term maturity of 3 months or less to be cash equivalents. Cash equivalents at March 31, 2023 and December 31, 2022 were approximately $ 17,237,000 1,271,000
Restricted Cash	Restricted Cash The Company considers cash held in escrow for the purposes of contractual contingencies to be restricted cash. All of the restricted cash at March 31, 2023 and December 31, 2022 relates to escrow amounts paid in connection with the Asset Purchase Agreement entered into by the Company and Allarity Therapeutics in July 2021 (See Note 4) and is considered a current asset at March 31, 2023, as the milestones that could require payments to be made to Allarity Therapeutics must be satisfied within the next 12 months.
Leases	Leases The Company determines whether an arrangement contains a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current portion of operating lease liabilities, and net of current portion of operating lease liabilities on our consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As the Company’s leases do not provide an implicit rate, an incremental borrowing rate is used based on the information available at the commencement date in determining the present value of lease payments. The Company does not include options to extend or terminate the lease term unless it is reasonably certain that the Company will exercise any such options. Rent expense is recognized under the operating leases on a straight-line basis. The Company does not recognize right-of-use assets or lease liabilities for short-term leases, which have a lease term of twelve months or less, and instead will recognize lease payments as expense on a straight-line basis over the lease term.
Marketable Securities	Marketable Securities The Company’s marketable securities consist of government and agency securities, corporate bonds, and mutual funds. We classify our marketable securities as available-for-sale at the time of purchase and reevaluate such classification as of each balance sheet date. We may sell these securities at any time for use in current operations even if they have not yet reached maturity. As a result, we classify our investments, including securities with maturities beyond twelve months, as current assets in the accompanying condensed consolidated balance sheets. Available-for-sale debt securities are recorded at fair value each reporting period. Unrealized gains and losses are excluded from earnings and recorded as a separate component within “Accumulated other comprehensive income” or “Accumulated other comprehensive loss” on the condensed consolidated balance sheets until realized. Interest is reported within “Interest income” and dividend income is reported within “Other income (expense), net” on the condensed consolidated statements of operations. We evaluate our investments to assess whether the amortized cost basis is in excess of estimated fair value and determine what amount of that difference, if any, is caused by expected credit losses. Allowance for credit losses are recognized as a charge in “Other income (expense), net” on the condensed consolidated statements of operations, and any remaining unrealized losses are included in “Accumulated other comprehensive loss” on the condensed consolidated balance sheets. There were no credit losses recorded for the three months ended March 31, 2023 and 2022. There was no impairment charge for any unrealized losses for the three months ended March 31, 2023 and 2022. We determine realized gains and losses on the sale of marketable securities based on the specific identification method and record such gains and losses in “Other income (expense), net” on the condensed consolidated statements of operations.
Recently Adopted Accounting Standard	Recently Adopted Accounting Standard Current Expected Credit Loss In June 2016 the FASB issued Accounting Standard Update (ASU) 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326). This introduces new methodology for recognition of credit losses - the current expected credit loss (“CECL”) method. The CECL method requires the recognition of all losses expected over the life of a financial instrument upon origination or purchase of the instrument, unless the company elects to recognize such instruments at fair value with changes in profit and loss. CECL was adopted on January 1, 2023 and had no impact on the Company’s condensed consolidated financial statements.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Research and Development	Set forth below are the approximate amounts expensed for License, Strategic Alliance, and Research Agreements during the three months ended March 31, 2023 and 2022, respectively. These expensed amounts are included under research and development expenses in the accompanying condensed consolidated statements of operations. Schedule of Research and Development Three Months Ended March 31, 2023 2022 Amount Expensed for License, Strategic Alliance, and Research Agreements $ 1,248,000 $ 1,858,000
Schedule of Accounts Payable and Accrued Liabilities	Set forth below at March 31, 2023 and December 31, 2022, respectively, are (1) the approximate amounts accrued and payable under License, Strategic Alliance, and Research Agreements, and (2) the approximate amount of prepaid expenses and other current assets under License, Strategic Alliance, and Research Agreements. These amounts are included in the accompanying condensed consolidated balance sheets. Schedule of Accounts Payable and Accrued Liabilities March 31, 2023 December 31, 2022 Amount accrued and payable under License, Strategic Alliance, and Research Agreements $ 1,487,000 $ 1,813,000 Prepaid expenses and other current assets under License, Strategic Alliance, and Research Agreements $ 1,560,000 $ 1,595,000

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases
Schedule of Balance Sheet Information Related to Leases	The following provides balance sheet information related to leases as of March 31, 2023 and December 31, 2022: Schedule of Balance Sheet Information Related to Leases March 31, 2023 December 31, 2022 Assets Operating lease, right-of-use asset, net $ 255,320 $ 47,687 Liabilities Current portion of operating lease liabilities $ 119,584 $ 52,890 Operating lease liabilities, net of current portion 140,632 - Total operating lease liabilities $ 260,216 $ 52,890
Schedule of Future Estimated Minimum Lease Payments Under Non-cancelable Operating Leases	At March 31, 2023, the future estimated minimum lease payments under non-cancelable operating leases are as follows: Schedule of Future Estimated Minimum Lease Payments Under Non-cancelable Operating Leases 2023 (remaining nine months) $ 102,212 2024 134,118 2025 45,431 Total minimum lease payments 281,761 Less amount representing interest (21,545 ) Present value of future minimum lease payments 260,216 Less current portion of operating lease liabilities (119,584 ) Operating lease liabilities, net of current portion $ 140,632
Schedule of Reconciliation of Right-of-Use Assets and lease Liabilities	The following table provides a reconciliation for our operating right-of-use assets and operating lease liabilities: Schedule of Reconciliation of Right-of-Use Assets and lease Liabilities Operating Right-of- Use Assets Operating Lease Liabilities Balance at December 31, 2022 $ 47,687 $ 52,890 Remeasurement of operating lease right-of-use assets and operating lease liability 198,847 198,847 Operating right-of-use asset acquired through operating lease liability 48,811 48,811 Amortizations and reductions (40,025 ) (40,332 ) Balance at March 31, 2023 $ 255,320 $ 260,216
Schedule of Other Supplemental Information Related to Operating Leases	Other supplemental information related to operating leases is as follows: Schedule of Other Supplemental Information Related to Operating Leases 2023 2022 As of March 31, 2023 2022 Weighted average remaining term of operating leases (in years) 2.04 1.08 Weighted average discount rate of operating leases 7.44 % 4.65 %

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of Stock Option Activity	A summary of stock option activity under the Lantern Pharma Inc. 2018 Equity Incentive Plan, as amended and restated (the “Plan”), during the three months ended March 31, 2023 is presented below: Schedule of Stock Option Activity Options Outstanding Number of Shares Weighted- Average Exercise Price Per Share Outstanding December 31, 2022 1,037,591 $ 6.46 Granted 70,000 4.92 Cancelled or expired (12,545 ) 13.04 Outstanding March 31, 2023 1,095,046 $ 6.28

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Cash and Cash Equivalents [Abstract]
Schedule of Marketable of Securities	At March 31, 2023, marketable securities consisted of the following: Schedule of Marketable of Securities Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Government & Agency Securities $ 4,922,640 $ 42 $ (150,408 ) $ 4,772,274 Corporate Bonds 8,982,238 - (188,181 ) 8,794,057 Marketable Securities – Debt 13,904,878 42 (338,589 ) 13,566,331 Mutual Funds – Fixed Income 4,002,704 - (311,504 ) 3,691,200 Mutual Funds – Alternative Investments 2,023,154 - (219,404 ) 1,803,750 Marketable Securities – Mutual Funds 6,025,858 - (530,908 ) 5,494,950 $ 19,930,736 $ 42 $ (869,497 ) $ 19,061,281
Schedule of Contractual Maturities Investments of Marketable Securities	The contractual maturities of the investments classified as Government & Agency Securities and Corporate Bonds are as follows: Schedule of Contractual Maturities Investments of Marketable Securities As of March 31, 2023 Due within one year $ 8,478,765 Due in one to two years 4,804,510 Due in two to five years 283,056 Total $ 13,566,331
Schedule of Gross Unrealized Losses and Fair Values for Marketable Securities	The following table presents gross unrealized losses and fair values for those marketable securities that were in an unrealized loss position as of March 31, 2023, aggregated by investment category and the length of time that individual securities have been in a continuous loss position: Schedule of Gross Unrealized Losses and Fair Values for Marketable Securities As of March 31, 2023 Less than 12 months More than 12 months Fair Value Unrealized Loss Fair Value Unrealized Loss Government & Agency Securities $ 1,196,670 $ (27,503 ) $ 2,829,984 $ (122,905 ) Corporate Bonds 4,300,603 (42,461 ) 4,493,454 (145,720 ) Mutual Funds – Fixed Income - - 3,691,200 (311,504 ) Mutual Funds – Alternative Investments - - 1,803,750 (219,404 ) $ 5,497,273 $ (69,964 ) $ 12,818,388 $ (799,533 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets are Measured at Fair Value on Recurring Basis	Schedule of Assets are Measured at Fair Value on Recurring Basis Description Total Level 1 Level 2 Level 3 NAV * Fair Value Measurements as of March 31, 2023 Description Total Level 1 Level 2 Level 3 NAV* Government & Agency Securities $ 4,772,274 $ - $ 4,772,274 $ - $ - Corporate Bonds 8,794,057 - 8,794,057 - - Mutual Funds – Fixed Income 3,691,200 - 3,691,200 - - Mutual Funds – Alternative Investments 1,803,750 - - - 1,803,750 Fair value recurring basis $ 19,061,281 $ - $ 17,257,531 $ - $ 1,803,750 * Certain marketable securities investments are measured at fair value using net asset value per share under the practical expedient methodology.

Loss Per Share of Common Shar_2

Loss Per Share of Common Shares (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Anti-dilutive Securities Outstanding Diluted Loss Per Share	Schedule of Anti-dilutive Securities Outstanding Diluted Loss Per Share Outstanding at March 31, 2023 2022 Warrants to purchase Common Stock 177,998 177,998 Stock options 1,095,046 890,826 Anti-dilutive securities 1,273,044 1,068,824

Liquidity (Details Narrative)

Liquidity (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 3,867,765	$ 4,121,774
Working capital	$ 52,374,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash FDIC insured amount	$ 250,000
Cash and cash equivalents	$ 17,237,000	$ 1,271,000

Schedule of Research and Develo

Schedule of Research and Development (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Amount Expensed for License, Strategic Alliance, and Research Agreements	$ 2,552,947	$ 2,660,237
License, Strategic Alliance, and Research Agreements [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Amount Expensed for License, Strategic Alliance, and Research Agreements	$ 1,248,000	$ 1,858,000

Schedule of Accounts Payable an

Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Prepaid expenses and other current assets under License, Strategic Alliance, and Research Agreements	$ 3,086,331	$ 2,985,472
License, Strategic Alliance, and Research Agreements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Amount accrued and payable under License, Strategic Alliance, and Research Agreements	1,487,000	1,813,000
Prepaid expenses and other current assets under License, Strategic Alliance, and Research Agreements	$ 1,560,000	$ 1,595,000

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative)	1 Months Ended	3 Months Ended
	May 31, 2021 USD ($) shares	Mar. 31, 2023 USD ($)	Mar. 31, 2023 GBP (£)	Mar. 31, 2022 USD ($)
Research and development expense		$ 2,552,947		$ 2,660,237
Lantern Pharma Limited [Member]
Research and development expenses percentage		50%	50%
Research and development expense | £			£ 24,215
Revenues		$ 0
Actuate Therapeutics [Member] | Collaboration Agreement [Member] | Restricted Stock [Member]
Stock Issued During Period, Shares, New Issues | shares	25,000
Nominal value acquired cost	$ 0

Schedule of Balance Sheet Infor

Schedule of Balance Sheet Information Related to Leases (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Leases
Operating lease, right-of-use asset, net	$ 255,320	$ 47,687
Current portion of operating lease liabilities	119,584	52,890
Operating lease liabilities, net of current portion	140,632
Total operating lease liabilities	$ 260,216	$ 52,890

Schedule of Future Estimated Mi

Schedule of Future Estimated Minimum Lease Payments Under Non-cancelable Operating Leases (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Leases
2023 (remaining nine months)	$ 102,212
2024	134,118
2025	45,431
Total minimum lease payments	281,761
Less amount representing interest	(21,545)
Present value of future minimum lease payments	260,216	$ 52,890
Less current portion of operating lease liabilities	(119,584)	(52,890)
Operating lease liabilities, net of current portion	$ 140,632

Schedule of Reconciliation of R

Schedule of Reconciliation of Right-of-Use Assets and lease Liabilities (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)
Leases
Operating Right-of-Use Assets, Beginning Balance	$ 47,687
Operating Lease Liabilities, Beginning Balance	52,890
Operating Right-of-Use Assets, Remeasurement of operating lease right-of-use assets and operating lease liability	198,847
Operating Lease Liabilities, Remeasurement of operating lease right-of-use assets and operating lease liability	198,847
Operating Right-of-Use Assets, Operating right-of-use asset acquired through operating lease liability	48,811
Operating Lease Liabilities, Operating right-of-use asset acquired through operating lease liability	48,811
Operating Right-of-Use Assets, Amortizations and reductions	(40,025)
Operating Lease Liabilities, Amortizations and reductions	(40,332)
Operating Right-of-Use Assets, Ending Balance	255,320
Operating Lease Liabilities, Ending Balance	$ 260,216

Schedule of Other Supplemental

Schedule of Other Supplemental Information Related to Operating Leases (Details)	Mar. 31, 2023	Mar. 31, 2022
Leases
Weighted average remaining term of operating leases (in years)	2 years 14 days	1 year 29 days
Weighted average discount rate of operating leases	7.44%	4.65%

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
General and administrative expenses	$ 42,000	$ 39,000
Lease expiration date	The leases expire in April 2023
Lease Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Monthly rent payments	$ 4,095
Increase in monthly rent payments	$ 4,254

Schedule of Stock Option Activi

Schedule of Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Equity [Abstract]
Number of Shares, Outstanding Beginning Balance | shares	1,037,591
Weighted Average Exercise Price Per Share, Outstanding Beginning Balance | $ / shares	$ 6.46
Number of Shares, Granted | shares	70,000
Weighted Average Exercise Price Per Share, Granted | $ / shares	$ 4.92
Number of Shares, Cancelled or expired | shares	(12,545)
Weighted Average Exercise Price Per Share, Cancelled or expired | $ / shares	$ 13.04
Number of Shares, Outstanding Ending Balance | shares	1,095,046
Weighted Average Exercise Price Per Share, Outstanding Ending Balance | $ / shares	$ 6.28

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Nov. 30, 2021	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Repurchase of shares, value			$ 2,482,286
Common stock, shares authorized		25,000,000		25,000,000
Common stock, shares issued		10,857,040		10,857,040
Common stock, shares outstanding		10,857,040		10,857,040
Weighted average exercise price		$ 6.28		$ 6.46
Stock-based compensation		$ 333,530	267,004
Number of shares, granted		70,000
Number of shares, cancelled or expired		12,545
Share-Based Payment Arrangement, Option [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock-based compensation		$ 334,000	$ 267,000
Number of shares, exercised			0
Number of shares, granted			0
Number of shares, cancelled or expired			0
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Repurchase of shares			353,667
Repurchase of shares, value			$ 36
Issuance of stock			95,779
Proceeds from warrants exercise			$ 300,000
Exercise price			$ 3.13
Weighted average exercise price		$ 6.01
Number of shares, exercised		790,115
Common Stock [Member] | Director [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Repurchase of shares			353,667
Repurchase of shares, value			$ 2,482,000
Common Stock [Member] | Director [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Repurchase of shares	7,000,000
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants to purchase shares of common stock		177,998	95,779
Weighted average exercise price		$ 9.27
Warrant [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Expiration date of warrants		Jun. 10, 2025
Warrant [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Expiration date of warrants		Mar. 07, 2024

Schedule of Marketable of Secur

Schedule of Marketable of Securities (Details)	Mar. 31, 2023 USD ($)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Marketable securities, amortized cost	$ 19,930,736
Marketable securities, unrealized gains	42
Marketable securities, unrealized losses	(869,497)
Marketable securities, aggregate fair value	19,061,281
Government & Agency Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Marketable securities, amortized cost	4,922,640
Marketable securities, unrealized gains	42
Marketable securities, unrealized losses	(150,408)
Marketable securities, aggregate fair value	4,772,274
Corporate Bonds [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Marketable securities, amortized cost	8,982,238
Marketable securities, unrealized gains
Marketable securities, unrealized losses	(188,181)
Marketable securities, aggregate fair value	8,794,057
Marketable Securities - Debt [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Marketable securities, amortized cost	13,904,878
Marketable securities, unrealized gains	42
Marketable securities, unrealized losses	(338,589)
Marketable securities, aggregate fair value	13,566,331
Mutual Funds - Fixed Income [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Marketable securities, amortized cost	4,002,704
Marketable securities, unrealized gains
Marketable securities, unrealized losses	(311,504)
Marketable securities, aggregate fair value	3,691,200
Mutual Funds - Alternative Investments [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Marketable securities, amortized cost	2,023,154
Marketable securities, unrealized gains
Marketable securities, unrealized losses	(219,404)
Marketable securities, aggregate fair value	1,803,750
Marketable Securities - Mutual Funds [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Marketable securities, amortized cost	6,025,858
Marketable securities, unrealized gains
Marketable securities, unrealized losses	(530,908)
Marketable securities, aggregate fair value	$ 5,494,950

Schedule of Contractual Maturit

Schedule of Contractual Maturities Investments of Marketable Securities (Details)	Mar. 31, 2023 USD ($)
Cash and Cash Equivalents [Abstract]
Due within one year	$ 8,478,765
Due in one to two years	4,804,510
Due in two to five years	283,056
Total	$ 13,566,331

Schedule of Gross Unrealized Lo

Schedule of Gross Unrealized Losses and Fair Values for Marketable Securities (Details)	Mar. 31, 2023 USD ($)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair Value Less than 12 months	$ 5,497,273
Unrealized Loss Less than 12 months	(69,964)
Fair Value More than 12 months	12,818,388
Unrealized Loss More than 12 months	(799,533)
Government & Agency Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair Value Less than 12 months	1,196,670
Unrealized Loss Less than 12 months	(27,503)
Fair Value More than 12 months	2,829,984
Unrealized Loss More than 12 months	(122,905)
Corporate Bonds [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair Value Less than 12 months	4,300,603
Unrealized Loss Less than 12 months	(42,461)
Fair Value More than 12 months	4,493,454
Unrealized Loss More than 12 months	(145,720)
Mutual Funds - Fixed Income [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair Value Less than 12 months
Unrealized Loss Less than 12 months
Fair Value More than 12 months	3,691,200
Unrealized Loss More than 12 months	(311,504)
Mutual Funds - Alternative Investments [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair Value Less than 12 months
Unrealized Loss Less than 12 months
Fair Value More than 12 months	1,803,750
Unrealized Loss More than 12 months	$ (219,404)

Schedule of Assets are Measured

Schedule of Assets are Measured at Fair Value on Recurring Basis (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis	$ 19,061,281
NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis	1,803,750	[1]
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis	17,257,531
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis
Government & Agency Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis	4,772,274
Government & Agency Securities [Member] | NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis		[1]
Government & Agency Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis
Government & Agency Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis	4,772,274
Government & Agency Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis
Corporate Bond Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis	8,794,057
Corporate Bond Securities [Member] | NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis		[1]
Corporate Bond Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis
Corporate Bond Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis	8,794,057
Corporate Bond Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis
Mutual Funds - Fixed Income [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis	3,691,200
Mutual Funds - Fixed Income [Member] | NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis		[1]
Mutual Funds - Fixed Income [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis
Mutual Funds - Fixed Income [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis	3,691,200
Mutual Funds - Fixed Income [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis
Mutual Funds - Alternative Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis	1,803,750
Mutual Funds - Alternative Investments [Member] | NAV [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis	1,803,750	[1]
Mutual Funds - Alternative Investments [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis
Mutual Funds - Alternative Investments [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis
Mutual Funds - Alternative Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value recurring basis
[1]Certain marketable securities investments are measured at fair value using net asset value per share under the practical expedient methodology.

Schedule of Anti-dilutive Secur

Schedule of Anti-dilutive Securities Outstanding Diluted Loss Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	1,273,044	1,068,824
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	177,998	177,998
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	1,095,046	890,826