NLS Pharmaceutics (NLSP) 6-K 11 Oct 22 2022 Q2 Unaudited Interim Condensed Financial Statements Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2022
Document Information Line Items
Entity Registrant Name	NLS Pharmaceutics Ltd.
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001783036
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity File Number	001-39957

Unaudited Interim Condensed Bal

Unaudited Interim Condensed Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,354,187	$ 5,431,202
Prepaid expenses and other current assets (Note 3)	668,321	291,954
Total current assets	2,022,508	5,723,156
Property and equipment (Note 4)	23,806	29,510
Other assets	11,735	12,044
Total assets	2,058,049	5,764,710
Current liabilities:
Note payable (Note 5)	354,336
Accounts payable, including related party of $60,195 and $62,231, as of June 30, 2022 and December 31, 2021, respectively	2,521,857	1,737,013
Other accrued liabilities, including related party of $20,445 and $6,877 as of June 30, 2022 and December 31, 2021, respectively (Note 6)	534,600	666,449
Total current liabilities	3,410,793	2,403,462
Deferred revenues (Note 7)	2,499,969	2,499,969
Accrued pension liability	188,761	318,891
Total liabilities	6,099,523	5,222,322
Commitments and contingencies (Note 8)
Shareholders’ equity (deficit)
Common shares, CHF 0.02 ($0.02) par value; 29,346,768 authorized; 19,564,512 and 16,223,389 shares issued; 17,785,920 and 14,748,536 shares outstanding on June 30, 2022 and December 31, 2021, respectively	411,268	344,445
Treasury shares	(35,572)	(29,497)
Additional paid-in capital	45,962,126	42,084,954
Accumulated deficit	(50,346,584)	(41,705,775)
Accumulated other comprehensive loss	(32,712)	(151,739)
Total shareholders’ equity (deficit)	(4,041,474)	542,388
Total liabilities and shareholders’ equity (deficit)	$ 2,058,049	$ 5,764,710

Unaudited Interim Condensed B_2

Unaudited Interim Condensed Balance Sheets (Parentheticals)	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 SFr / shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 SFr / shares
Statement of Financial Position [Abstract]
Accounts payable, including related party (in Dollars) | $	$ 60,195		$ 62,231
Other accrued liabilities, including related party (in Dollars) | $	$ 20,445		$ 6,877
Common shares, par value (in Francs per share) | (per share)	$ 0.02	SFr 0.02	$ 0.02	SFr 0.02
Common shares, par value (in Dollars per share) | (per share)	$ 0.02	SFr 0.02	$ 0.02	SFr 0.02
Common shares, authorized	29,346,768		29,346,768
Common shares, issued	19,564,512		16,223,389
Common shares, outstanding	17,785,920		14,748,536

Unaudited Interim Condensed Sta

Unaudited Interim Condensed Statements of Operating and Comprehensive Loss - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating expenses:
Research and development	$ 5,544,093	$ 1,862,735
General and administrative	3,143,933	2,680,018
Total operating expenses	8,688,026	4,542,753
Operating loss	(8,688,026)	(4,542,753)
Other income, net	56,397	7,544
Interest expense	(9,180)	(48,099)
Interest on related party loans		(20,034)
Net loss	(8,640,809)	(4,603,342)
Other comprehensive loss:
Defined pension plan adjustments	119,027	(160,472)
Comprehensive loss	$ (8,521,782)	$ (4,763,814)
Basic and diluted net loss per common share (in Dollars per share)	$ (0.54)	$ (0.42)
Weighted average common shares used for computing basic and diluted net loss per common share (in Shares)	15,892,327	11,069,254

Unaudited Interim Condensed S_2

Unaudited Interim Condensed Statements of Operating and Comprehensive Loss (Parentheticals) - $ / shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Diluted net loss per common share	$ (0.54)	$ (0.42)
Weighted average common shares used for computing diluted net loss per common share (in Dollars per share)	15,892,327	11,069,254

Unaudited Interim Condensed S_3

Unaudited Interim Condensed Statements of Changes in Equity - USD ($)	Common Shares	Treasury Shares	Additional Paid in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Total
BALANCE at Dec. 31, 2020	$ 145,139		$ 20,649,882	$ (29,759,697)	$ (19.381)	$ (8,984,057)
BALANCE (in Shares) at Dec. 31, 2020	6,960,000
Issuance of common shares in initial public offering, net	$ 108,347		9,946,310			10,054,657
Issuance of common shares in initial public offering, net (in Shares)	4,819,277
Issuance of warrants, net			6,742,638			6,742,638
Issuance of common shares to consultant	$ 268		49,732			50,000
Issuance of common shares to consultant (in Shares)	12,048
Warrant exercises	$ 5,975		1,143,556			1,149,531
Warrant exercises (in Shares)	277,000
Defined pension plan adjustments					(160,472)	(160,472)
Net loss				(4,603,342)		(4,603,342)
BALANCE at Jun. 30, 2021	$ 259,729		38,532,118	(34,363,039)	(179,853)	4,248,955
BALANCE (in Shares) at Jun. 30, 2021	12,068,325
BALANCE at Dec. 31, 2021	$ 344,445	$ (29,497)	42,084,954	(41,705,775)	(151,739)	542,388
BALANCE (in Shares) at Dec. 31, 2021	16,223,389
Issuance of common shares direct offering, net	$ 31,251	29,057	1,851,205			1,911,513
Issuance of common shares direct offering, net (in Shares)	1,562,531
Issuance of warrants, net			900,798			$ 900,798
Warrant exercises (in Shares)
Issuance of pre-funded warrants, net			1,094,616			$ 1,094,616
Issuance of common shares in At-The-Market (ATM) financing		440	30,553			30,993
Issuance of treasury shares	$ 35,572	(35,572)
Issuance of treasury shares (in Shares)	1,778,592
Defined pension plan adjustments					119,027	119,027
Net loss				(8,640,809)		(8,640,809)
BALANCE at Jun. 30, 2022	$ 411,268	$ (35,572)	$ 45,962,126	$ (50,346,584)	$ (32,712)	$ (4,041,474)
BALANCE (in Shares) at Jun. 30, 2022	19,564,512

Unaudited Interim Condensed S_4

Unaudited Interim Condensed Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities:
Net loss	$ (8,640,809)	$ (4,603,342)
Adjustments to reconcile net loss to net cash used in in operating activities:
Amortization of debt discount		41,611
Depreciation expense	5,704	5,022
Provision for doubtful accounts		77,714
Periodic pension costs	(11,103)	13,352
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	327,792	(1,046,247)
Other receivables, net – related parties		(9,760)
Accounts payable	784,844	(3,479,270)
Interest payable		(313,342)
Other accrued liabilities	(131,848)	(419,073)
Net cash used in operating activities	(7,665,420)	(9,733,335)
Investing Activities:
Purchases of property and equipment		(32,755)
Net cash used in investing activities		(32,755)
Financing Activities:
Proceeds from the issuance of common shares in initial public offering, net		11,001,569
Proceeds from the issuance of common shares in ATM financing	30,993
Proceeds from the issuance of common shares in direct offering, net	1,911,513
Proceeds from the issuance of pre-funded warrants, net	1,094,616
Proceeds from the issuance of warrants, net	900,798	6,742,638
Payments on notes payable	(349,824)
Exercise of warrants		1,149,531
Proceeds from bridge loan		108,610
Payment on Swiss government loan		(277,537)
Payment on second credit facility		(150,000)
Payment on convertible loans		(420,020)
Payment on convertible loans – related party		(111,730)
Payment on bridge loan		(670,380)
Payment of shareholder loans		(583,443)
Net cash provided by financing activities	3,588,096	16,789,238
Effect of exchange rate on cash and cash equivalents	309	(24,744)
Change in cash and cash equivalents	(4,077,015)	6,998,404
Cash and cash equivalents at the beginning of period	5,431,202	93,711
Cash and cash equivalents at the end of period	1,354,187	7,092,115
Supplemental disclosure of non-cash and financing activities:
Issuance of note payable for prepaid insurance	704,160
Deferred financing costs transferred to additional paid in capital		946,912
Issuance of common shares to consultant for payment of expenses		$ 50,000

Background

Background	6 Months Ended
	Jun. 30, 2022
Background [Abstract]
Background	Note 1 Background: NLS Pharmaceutics Ltd. (Nasdaq: NLSP, NLSPW) (the “Company”) is an emerging biopharmaceutical company engaged in the discovery and development of life-improving drug therapies to treat rare and complex central nervous system disorders, including narcolepsy, idiopathic hypersomnia and other rare sleep disorders, and of neurodevelopmental disorders, such as attention deficit hyperactivity disorder (“ADHD”). The Company’s lead product candidates are Quilience, to treat narcolepsy (type 1 and type 2), and Nolazol, to treat ADHD. On February 2, 2021, the Company Going Concern As of June 30, 2022, the Company had an accumulated deficit of approximately $50.3 million and the Company incurred an operating loss for the six months ended June 30, 2022 of approximately $8.7 million. To date, the Company has dedicated most of its financial resources to research and development, clinical studies associated with its ongoing biopharmaceutical business and general and administrative expenses. As of June 30, 2022, the Company’s cash and cash equivalents were $1.4 million. The Company expects that its existing cash and cash equivalents, including the $1.5 million in short-term notes issued in August 2022 (see Note 11), will not be sufficient to fund operations for a period of one year from the issuance of these financial statements. The Company expects to continue to generate operating losses and negative operating cash flows for the next few years and will need additional funding to support its planned operating activities through profitability. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for one year from the issuance of these financial statements. Additionally, the Company’s operating plans may change as a result of many factors that may currently be unknown to the Company including: ● the length of the novel strain of coronavirus (“COVID-19”) pandemic and its impact on the Company’s planned clinical trials, operations and financial condition; ● the progress and costs of the Company’s pre-clinical studies, clinical trials and other research and development activities; ● the scope, prioritization and number of the Company’s clinical trials and other research and development programs; ● any cost that the Company may incur under in- and out-licensing arrangements relating to its product candidate that it may enter into in the future; ● the costs and timing of obtaining regulatory approval for the Company’s product candidates; ● the costs of filing, prosecuting, enforcing and defending patent claims and other intellectual property rights; ● the costs of, and timing for, strengthening the Company’s manufacturing agreements for production of sufficient clinical and commercial quantities of its product candidates; ● the potential costs of contracting with third parties to provide marketing and distribution services for the Company or for building such capacities internally; and ● the costs of acquiring or undertaking the development and commercialization efforts for additional therapeutic applications of the Company’s product candidates and the magnitude of the Company’s general and administrative expenses. As a result, the Company will require additional capital to finance expenditures related to the manufacture of the Company’s product candidates for use in clinical trials, conducting clinical trials and general and administration expenses . The Company has put in place multiple options to raise the funds necessary to support its operations, including access to $18.5 million of funding through a Standby Equity Distribution Agreement (the “SEDA”) executed with YA II PN, Ltd. (“YA”), and $230 thousand of potential funding via an ATM agreement with Virtu Americas LLC (“Virtu”). The Company has access to the funds under SEDA. The Company plans to raise additional funds besides through the SEDA and ATM agreement with Virtu. There can be no assurance that these funds will be available, or if they are available, that their availability will be on terms acceptable to the Company or in an amount sufficient to enable the Company to fully complete its development activities or sustain operations. If the Company is unable to raise sufficient additional funds, it will have to develop and implement a plan to further extend payables and indebtedness, reduce overhead, or scale back its current business plan until sufficient additional capital is raised to support further operations or force the Company to grant rights to develop and commercialize product candidates that it would otherwise prefer to develop and commercialize on its own. Accordingly, the accompanying unaudited interim condensed financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which contemplate continuation of the Company as a going concern for a period within one year from the issuance of these unaudited interim condensed financial statements and the realization of assets and satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in these unaudited interim condensed financial statements do not necessarily purport to represent realizable or settlement values. These unaudited interim condensed financial statements do not include any adjustment that might result from the outcome of this uncertainty.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 Summary of Significant Accounting Policies: Basis of Preparation The unaudited interim condensed financial statements have been prepared in accordance with U.S. GAAP for interim financial information and accordingly do not include all information and disclosures as required by U.S. GAAP for complete financial statements. The year-end unaudited interim condensed balance sheet was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. These unaudited interim condensed financial statements should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 20-F for the year ended December 31, 2021 and any public announcements made by the Company during the interim reporting period. In the opinion of management, these unaudited interim condensed financial statements reflect all adjustments necessary, which are of a normal recurring nature, to fairly state the balance sheets, statements of operating and comprehensive loss, changes in equity and cash flows for the interim reporting periods presented. Use of Estimates The preparation of the unaudited interim condensed financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the interim reporting periods. Actual results could differ from those estimates and be based on events different from those assumptions. As part of these financial statements, the more significant estimates include the valuation allowance related to the Company’s deferred tax assets. Property and equipment Property and equipment are recorded at cost, net of accumulated depreciation and any accumulated impairment losses. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The useful lives of property and equipment are five years for furniture and fixtures and three years for software. Upon retirement or sale, the cost of disposed assets and their related accumulated depreciation are removed from the balance sheet. Any resulting net gains or losses on dispositions of property and equipment are included as a component of operating expenses within the Company’s statements of operating and comprehensive loss. Repair and maintenance costs that do not significantly add value to the property and equipment, or prolong its life, are charged to operating expense as incurred. Earnings per Share Basic loss per common share is computed by dividing the net loss applicable to common shareholders by the weighted-average number of common shares outstanding during the periods presented. Diluted loss per common share is computed similar to basic loss per share, except that the denominator is increased to include the number of additional potential common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Potential common shares are excluded from the computation for a period in which a net loss is reported or if their effect is anti-dilutive. The Company’s potential common shares consist of warrants with their potential dilutive effect considered using the treasury method. For the six months ended June 30, 2022, 9,744,362 common shares from warrants and 1,778,592 treasury shares were excluded from the computation. For the year ended December 31, 2021, 5,409,746, shares from warrants and 1,474,853 treasury shares were excluded from the computation, respectively. Segment Reporting The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Company’s singular focus is on developing therapeutics for the treatment of neurobehavioral and neurocognitive disorders. All of the Company’s tangible assets are held outside the United States of America.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2022
Prepaid Expenses and Other Current Assets [Abstract]
Prepaid Expenses and Other Current Assets	Note 3 Prepaid Expenses and Other Current Assets: The Company’s prepaid expenses and other current assets consisted of the following as of June 30, 2022 and December 31, 2021: June 30, December 31, Vendor prepayments $ 23,200 $ 37,538 VAT recoverable and other current assets 59,830 38,551 Prepaid insurance 513,450 187,446 Prepaid expenses 71,841 28,419 Total prepaid expenses and other current assets $ 668,321 $ 291,954

Property and Equipment, net_

Property and Equipment, net:	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, net:	Note 4 Property and Equipment, net: The following table shows the property and equipment as of June 30, 2022 and December 31, 2021: June 30, December 31, Cost Furniture and fixtures $ 13,341 $ 13,341 Software 26,219 26,219 Total cost 39,560 39,560 Accumulated depreciation (15,754 ) (10,050 ) Total property and equipment, net $ 23,806 $ 29,510 Deprecation and related amortization expense was $5,704 and $5,022 for the six months ended June 30, 2022 and 2021, respectively.

Note Payable

Note Payable	6 Months Ended
	Jun. 30, 2022
Note Payable [Abstract]
Note Payable	Note 5 Note Payable In January 2022, the Company entered into a note payable of $704,160 for payment of its directors’ and officers’ insurance policy. The note payable has a term of 10 months and has a 3.90% stated interest rate. As of June 30, 2022, the outstanding balance on the note payable was $354,336.

Other Accrued Liabilities

Other Accrued Liabilities	6 Months Ended
	Jun. 30, 2022
Schedule of other accrued liabilities [Abstract]
Other Accrued Liabilities	Note 6 Other Accrued Liabilities: Other accrued liabilities consisted of the following as of June 30, 2022 and December 31, 2021: June 30, December 31, Professional consultants’ expenses $ 177,401 $ 244,245 Vendor liabilities 53,681 16,954 Related party expenses 20,445 6,877 Accrued board fees 72,238 137,002 Accrued commitment fee 200,000 200,000 Other accrued expenses 10,835 61,371 Total other accrued liabilities $ 534,600 $ 666,449

Deferred Revenues

Deferred Revenues	6 Months Ended
	Jun. 30, 2022
Deferred Revenue Disclosure [Abstract]
Deferred Revenues	Note 7 Deferred Revenues: In February 2019, the Company entered into a license agreement (the “EF License Agreement”), to develop and commercialize its product candidate, Nolazol, in Latin American countries with Eurofarma, a Brazilian pharmaceutical company. The EF License Agreement covers the grant of non-transferable licenses, without the right to sublicense, to Eurofarma to develop and commercialize Nolazol in Latin America. The EF License Agreement also specifies the Company’s obligation to advance ongoing development activities with respect to Nolazol in the United States. A joint steering committee will oversee the development and regulatory activities directed towards marketing approval, manufacturing and commercialization phases. The Company believes its participation in the joint steering committee is not of material significance to the licenses in the context of the EF License Agreement on the whole and, as such, management has excluded these activities in the determination of its performance obligation(s) under the EF License Agreement. The EF License Agreement provides that the parties shall enter into a separate manufacturing and supply agreement during the term of the EF License Agreement. Under the EF License Agreement, the Company received a non-refundable, upfront payment of $2,500,000 and is further eligible to receive non-refundable milestone payments of up to $16,000,000, based on the achievement of milestones related to regulatory filings, regulatory approvals and the commercialization of Nolazol. The achievement and timing of the milestones depend on the success of development, approval and sales progress, if any, of Nolazol in the future. In addition, the Company is also eligible for tiered royalty payments. The Company identified the licenses granted to Eurofarma and its obligation to advance development activities with respect to Nolazol in the United States as the material promises under the EF License Agreement. For purposes of identifying the Company’s performance obligations under the EF License Agreement, management believes that while the exclusive licenses were granted to Eurofarma at the outset of the EF License Agreement, the grant of those licenses does not singularly result in the transfer of the Company’s broader obligation to Eurofarma under the EF License Agreement. The Company is obligated under the EF License Agreement to advance its development activities in the United States and those activities precede Eurofarma’s necessary regulatory approvals for commercialization of Nolazol, in Latin American countries. The Company intends to apply its proprietary know-how to the ongoing development activities in the United States involving its intellectual property relating to Nolazol. These development activities are specific to the Company and the Company believes they are not capable of being distinct in the context of the EF License Agreement on the whole. The licenses provided to Eurofarma are not transferable and without the right to sublicense therefore Eurofarma is not presently able to monetize its investment in Nolazol as clinical development in the United States or any Latin American countries has yet to be completed and Eurofarma has yet to seek or obtain regulatory approval in any Latin American country. The licenses to Eurofarma represent rights to use the Company’s intellectual property with respect to Nolazol for which revenue is recognized at a point in time which is when Eurofarma is able to use and benefit from the licenses. The licenses are considered of limited value without the Company’s development activities with respect to Nolazol in the United States. As such, the licenses are not capable of being distinct until after successful clinical development and regulatory approval and alone do not have standalone functionality to Eurofarma. Management has determined that the licenses, while capable of being distinct, are not distinct as they do not have stand-alone value to Eurofarma without the Company’s planned development activities in the United States and the approval for sale in Latin America. Bundled together with the Company’s development activities of Nolazol in the United States, the licenses granted under the EF License Agreement will enable Eurofarma to seek regulatory approvals and ultimately seek to commercialize Nolazol in Latin America. Therefore, management believes the licenses bundled together with the Company’s development activities in the United States constitute a single distinct performance obligation under the EF License Agreement for accounting purposes, or (the “License Performance Obligation”). The Company has initially estimated a total transaction price of $2,500,000, consisting of the fixed upfront payment determined to be an advance on the License Performance Obligation. Upon execution of the EF License Agreement and as of June 30, 2022, variable consideration consisting of milestone payments has been constrained and excluded from the transaction price given the significant uncertainty of achievement of the development and regulatory milestones. The Company has allocated the transaction price entirely to the single License Performance Obligation and recorded the $2,500,000 as deferred revenue that is expected to be recognized upon Brazilian or other Latin American market approval or, in the event marketing approval in the United States and/or Latin America is not achieved, whether by failure in clinical development or otherwise, when the Company’s performance obligations are contractually complete or the EF License Agreement is terminated. Amounts expected to be recognized as revenue within the 12 months following the balance sheet date are classified as a current portion of deferred revenue in the accompanying condensed balance sheets. Amounts not expected to be recognized as revenue within the 12 months following the balance sheet date are classified as deferred revenue, net of current portion. As of June 30, 2022 and December 31, 2021, the Company has long-term deferred revenues of $2,500,000, which will be recognized when the development services of Nolazol are completed and the product candidate receives applicable regulatory approval in Latin America that allows Eurofarma to commence commercialization of Nolazol in accordance with the EF License Agreement.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 8 Commitments and Contingencies: Commitments On March 10, 2021, the Company entered into a License Agreement (the “Agreement”) with Novartis Pharma AG (“Novartis”), whereby the Company obtained, on an exclusive basis in the U.S., all of the available data referred to and included in the original new drug application (“NDA”) for Sanorex® (mazindol) submitted to the U.S. Food and Drug Administration (“FDA”) in February 1972. The agreement encompasses all preclinical and clinical studies, data used for manufacturing including stability and other chemistry manufacturing and controls data, formulation data and know-how for all products containing mazindol as an active substance, and all post-marketing clinical studies and periodic safety reports from 1973 onwards. Under the Agreement, the Company has obtained the same rights on a non-exclusive basis in all territories outside of the U.S. except for Japan, with the right to cross-reference the Sanorex NDA with non-U.S. regulatory agencies in the licensed territories. The Agreement includes the right to sublicense or assign the license to third parties, subject to such third parties meeting certain obligations. As consideration for the license, the Company paid Novartis $250,000 upon the signing of the agreement with milestone payments due as follows: (i) $750,000 payable following the end of a Phase II meeting with the FDA, with the amount to be reduced to $375,000 if toxicology studies must be repeated; (ii) $2 million following the earlier of FDA marketing authorization of Litigation The Company may become involved in miscellaneous litigation and legal actions, including product liability, consumer, commercial, tax and governmental matters, which can arise from time to time in the ordinary course of the Company’s business. Litigation and legal actions are inherently unpredictable, and excessive verdicts can result in such situations. The Company is not currently involved in any such matters. COVID-19 The Company has implemented a comprehensive response strategy designed to manage the ongoing impact of the COVID-19 pandemic on its employees, patients and its business. The prolonged nature of the pandemic is negatively impacting the Company’s business in a varied manner due to the emergence of the Delta and Omicron variants and other variants with increased transmissibility, even in some cases in vaccinated people, limited access to health care provider offices and institutions and the willingness of patients or parents of patients to seek treatment. The Company expects that its business, financial condition, results of operations and growth prospects may continue to be negatively impacted by the pandemic on a limited basis that may vary depending on the context. However, the Company has begun to observe, and expects to continue to observe, a gradual normalization in patient and healthcare provider practices, as providers and patients have adapted their behaviors and procedures to the evolving circumstances and as COVID-19 vaccines continue to be administered. The extent of the impact on the Company’s clinical development and regulatory efforts, its corporate development objectives and the value of market for its common shares will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time. Such developments include continued spread of the Delta and Omicron variants in the U.S., Switzerland and other countries and the potential emergence of other SARS-CoV-2 variants that may prove especially contagious or virulent, the ultimate duration and severity of the pandemic, governmental “stay-at-home” orders and travel restrictions, quarantines, social distancing and business closure requirements in the U.S., Switzerland and other countries, and the effectiveness of vaccination programs and other actions taken globally to contain and treat the disease.

Share Capital and Public Offeri

Share Capital and Public Offerings	6 Months Ended
	Jun. 30, 2022
Share Capital and Public Offerings [Abstract]
Share Capital and Public Offerings	Note 9 Share Capital and Public Offerings: Common Shares: As of June 30, 2022, the Company had 19,564,512 registered and issued common shares. On April 25, 2022, the Company closed a registered direct offering with health-care focused institutional investors alongside participation from the Company’s Chairman of the Board of Directors, Ronald Hafner, for the purchase and sale of (i) 3,015,384 common shares, at a purchase price of $1.04 per share, and (ii) pre-funded warrants to purchase up to 1,184,616 common shares (the “Pre-Funded Warrants”) at a purchase price of $1.04 minus CHF 0.02 per Pre-Funded Warrant. The Chairman of our Board of Directors, Ronald Hafner, purchased 95,984 of the 3,015,384 common shares in the offering. In a concurrent private placement, the Company issued the investors, who also participated in the registered direct offering, warrants to purchase up to 3,150,000 common shares. The warrants have an exercise price of $1.04 per common share, are exercisable six months following the date of issuance and expire 5 years following the initial exercise date. Pursuant to the terms of the securities purchase agreement, dated April 13, 2022, between the Company and the investors, the Company agreed to register and create the common shares issuable upon the exercise of the warrants issued as part of the concurrent private placement. The common shares will first need to be created based on Swiss law upon the exercise of the respective warrants by the investors. The Company also entered into an agreement (the “Placement Agent Agreement”) with A.G.P./Alliance Global Partners, as sole placement agent (the “Placement Agent”) dated April 13, 2022, pursuant to which the Placement Agent agreed to serve as the Company’s placement agent in connection with the registered direct offering and concurrent private placement. The Company agreed to pay the Placement Agent (except with respect to the securities to be purchased by Mr. Hafner) a cash placement fee equal to 7.0% of the aggregate gross proceeds received for the securities sold in the offerings. On March 5, 2022, the Company, entered into an ATM Sales Agreement (the “Sales Agreement”) with Virtu, as sales agent. Pursuant to the terms of the Sales Agreement, the Company may issue and sell from time to time its common shares, par value CHF 0.02 per share, through Virtu, acting as its sales agent, or directly to Virtu, acting as principal. On March 31, 2022, the Company sold 22,000 common shares through the Sales Agreement for approximately $31 thousand, net. Pursuant to the Company’s prospectus supplement filed on April 13, 2022, the Company may issue and sell its common shares having an aggregate offering price of up to $230 thousand pursuant to the Sales Agreement. Under the Sales Agreement, common shares will be offered and sold pursuant to the Company’s shelf registration statement on Form F-3 (File No. 333-262489), declared effective by the Securities and Exchange Commission on February 11, 2022. In addition, under the Sales Agreement, sales of common shares may be made by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. The Company will pay Virtu a commission rate of up to 3.0% of the gross proceeds from each sale of Shares and has agreed to provide Virtu with customary indemnification and contribution rights. The Company will also reimburse Virtu for certain specified expenses in connection with entering into the Sales Agreement. The Company has no obligation to sell any of the common shares under the Sales Agreement and may at any time suspend the offering of its common shares upon notice and subject to other conditions. Warrants: On April 25, 2022, in a concurrent private placement, the Company issued investors, who also participated in the registered direct offering, warrants to purchase up to 3,150,000 common shares. The warrants have an exercise price of $1.04 per common share, are exercisable six months following the date of issuance and expire 5 years following the initial exercise date. Pursuant to the terms of the securities purchase agreement, dated April 13, 2022, between the Company and the investors, the Company agreed to register and create the common shares issuable upon the exercise of the warrants issued as part of the concurrent private placement. The common shares will first need to be created based on Swiss law upon the exercise of the respective warrants by the investors. The following table summarizes the common share warrant activity for the six months ended June 30, 2022: Balance on January 1, 2022 5,409,746 Issuances 4,334,616 Exercises - Balance on June 30, 2022 9,744,362 Treasury Shares: In the second half of 2021, the Company created treasury shares from its authorized capital in order to use them for the SEDA, as discussed above. On June 30, 2022 and December 31, 2021, the Company held 1,778,592 and 1,474,853 treasury shares, respectively, for financing arrangements. Option Plan On December 14, 2021, the board of directors (the “Board”) adopted the Share Option Plan Regulation 2021 (the “Option Plan”). The purpose of the Option Plan is to retain, attract and motivate management, employees, directors and consultants by providing them with options to purchase our common shares. The Board allocated fifteen percent (15%) of the Company’s fully diluted shares to awards that may be made pursuant to the Option Plan. For the six months ended June 30, 2022, the Company had not issued any options under the plan.

Related Party Consulting Agreem

Related Party Consulting Agreements	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related party consulting agreements	Note 10 Related party consulting agreements: In October 2019, the Company entered into a collaboration agreement with Adya Consulting, a company founded and managed by the Company’s current Chief Operating Officer, Silvia Panigone. Pursuant to the collaboration agreement, the Company agreed to pay Adya Consulting a one-time fee of CHF 2,500 ($2,705) for due diligence activities as well as a success fee of 5% for raising funds. For the six months ended June 30, 2022 and 2021, the Company recorded fees to Adya Consulting of $19,045 and $82,830 included in research and development expenses, respectively, on the statement of operating and comprehensive loss. Effective May 1, 2021, Ms. Panigone entered into an employment agreement with the Company. On September 5, 2022, the Company and Ms. Panigone agreed that she will leave her position as Chief Operating Officer on November 30, 2022. In January 2017, and as subsequently amended in October 2020, the Company entered into a consulting agreement with CHG BioVenture SA, an entity controlled by Mr. Hervé Girsault, the Company’s current Head of Business Development. Pursuant to the consulting agreement, the Company agreed to pay CHG BioVenture SA a monthly fee of CHF 17,500, as well as an opportunity for a bonus of up to 15% of the annual fee, subject to the Company’s discretion. In addition, the Company has agreed to pay CHG BioVenture SA a 1% fee tied to the net proceeds actually received by the Company in certain transactions, such as, but not limited to, an M&A transaction. The consulting agreement may be terminated by either party for any reason at the end of each calendar quarter with three months’ prior written notice, or immediately if Mr. Girsault breaches the confidentiality provision. The consulting agreement also provides for a 24-month non-competition clause. The consulting agreement also provides for standard confidentiality provisions as well as reimbursement for certain expenses. For the six months ended June 30, 2022 and 2021, the Company recorded fees to CHG BioVenture SA of $74,989 and $82,331, respectively, included in general and administrative expenses on the statement of operating and comprehensive loss. The Company has entered into a new consulting agreement starting May 1, 2021 for the continuation of Mr. Girsault’s engagement with the Company in his current role. Pursuant to the new agreement, the Company has agreed to pay CHG BioVenture SA a monthly fee CHF 4’375 ($4,733) plus 7.7% VAT for his services. In addition, CHG BioVenture SA is eligible for a 1% success fee payment in the event of closing of a partnering agreement in China. In March 2021, the Company entered into a consulting agreement with Mr. Subhasis Roy, the Company’s then Interim Chief Financial Officer, pursuant to which the Company agreed to pay Mr. Roy a daily rate of CHF 2,000 for his services. The consulting agreement was terminatable by either party upon 30 days’ written notice or immediately by the Company in the event of a material breach by Mr. Roy that could not be cured. The consulting agreement contained customary confidentiality provisions and provided for an 18-month non-solicitation clause. For the six months ended June 30, 2022 and 2021, the Company recorded fees to Mr. Roy of $49,728 and $52,298, included in general and administrative expenses on the statement of operating and comprehensive loss. The Company entered into a new consulting agreement starting July, 2021 for the continuation of Mr. Roy’s engagement with the Company in his current role. On May 31, 2022, Mr. Roy resigned as the Registrant’s Interim Chief Financial Officer. Mr. Roy continued to provide transition services to the Company through June 30, 2022. In February 2021, the Company entered into a consulting agreement with Mr. Eric Konofal, the Company’s current Chief Scientific Officer, pursuant to which the Company agreed to pay Mr. Konofal a daily rate of CHF 2,000 for his services. The consulting agreement may be terminated by either party upon 30 days’ written notice or immediately by the Company in the event of a material breach by Mr. Konofal that cannot be cured. The consulting agreement contains customary confidentiality provisions and provides for an 18-month non-solicitation clause as well as reimbursement for certain expenses. For the six months ended June 30, 2022 and 2021, the Company recorded fees to Mr. Konofal of $103,582 and $87,107, included in research and development expenses on the statement of operating and comprehensive loss. The Company entered a new consulting agreement starting July 1, 2021 for the continuation of Mr. Konofal’s engagement with the Company in his current role. In March 2021, the Company entered into a consulting agreement with Mr. Carlos Camozzi, the Company’s current Interim Medical Director, pursuant to which the Company agreed to pay Mr. Camozzi an hourly rate of CHF 230 plus 7.7% VAT for his services. The consulting agreement may be terminated by either party upon 30 days’ written notice or immediately by us in the event of a material breach by Mr. Camozzi that cannot be cured. The consulting agreement contains customary confidentiality provisions and provides for an 18-month non-solicitation clause as well as reimbursement for certain expenses. For the six months ended June 30, 2022 and 2021, the Company recorded fees to Mr. Camozzi of $75,121 and $53,002, included in research and development expenses on the statement of operating and comprehensive loss. In June 2022, the Company entered into a consulting agreement with Mr. Chad Hellmann, the Company’s current Chief Financial Officer, pursuant to which the Company agreed to pay Mr. Hellmann an annual salary of $160,000 for his services. Additionally, Mr. Hellmann will be eligible for a bonus of up to $56,000 and he will be eligible to receive an option award under the Option Plan. For the six months ended June 30, 2022, the Company recorded fees to Mr. Hellmann of $13,333, included in general and administrative expenses on the statement of operating and comprehensive loss.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 11 Subsequent Events: On July 21, 2022, 1,184,616 Pre-Funded Warrants were exercised at $0.02 per share for total gross proceeds to the Company of $23,692. On August 19, 2022, the Company issued unsecured short-term notes in the amount of $1,530,000, $430,000 of which is with related parties, with a maturity date of November 19, 2022. The notes bear an annual interest rate of 10%, provide 10% warrant coverage with a strike price of $0.497 and can be converted, at the discretion of the noteholders, into a subsequent equity offering at a 20% discount to the share price of the offering. On September 29, 2022, the Company received a letter from Nasdaq stating that the Company had failed to regain compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market, as required by Nasdaq Listing Rule 5550(b)(1), within the extension period granted by Nasdaq and, accordingly, the Nasdaq staff had initiated procedures to delist the Company’s common shares and warrants from Nasdaq. The Company intends to request a hearing to appeal the Nasdaq staff’s delisting determination. On September 8, 2022, the Company announced the hiring of George Apostle as the Company’s new Chief Medical Officer while simultaneously announcing that Ms. Panigone resigned as the Company’s Chief Operating Officer. Chad Hellmann, the Company’s Chief Financial Officer will assume all non-clinical duties. Effective as of September 30, 2022, the Company, entered into a securities purchase agreement, or the Purchase Agreement, providing for the issuance in a private placement offering of (i) 5,194,802 common shares at a purchase price of $0.77 per share, and (ii) warrants, or Common Warrants, to purchase up to an aggregate of 2,597,401 common shares at an exercise of $0.70 per share. The Common Warrants will be exercisable immediately and will have a term of 5 years. The offering closed on October 7, 2022. The Company’s Chairman of the Board of Director, Ronald Hafner, purchased 324,675 common shares in the offering and the Company’s recently appointed Chief Medical Officer, George Apostol, purchased 1,298,701 common shares in the offering. Pursuant to the Purchase Agreement, the Company has agreed not to enter into any agreement to issue or announce the issuance or proposed issuance of any common shares or common share equivalents for a period of 30 days following the closing of the offering, subject to certain exceptions. The offering resulted in gross proceeds to the Company of $4 million. The Company intends to use the net proceeds from the offering to fund the ongoing development of its lead product, Quilience® (Mazindol ER) for the treatment of narcolepsy, to support business development and licensing activities, and for general corporate purposes. The Company engaged Laidlaw & Company (UK) Ltd. as sole placement agent pursuant to which the placement agent agreed to serve as the placement agent for the Company in connection with the above-described offering. The Company agreed to pay the placement agent a cash placement fee equal to 3.5% of the aggregate gross proceeds received for the securities sold in the offering. At the closing of the offering, the Company’s existing short-term notes, with an aggregate principal balance of $1.53 million plus all accrued interest, that were issued in August 2022, converted into 2,516,429 common shares and the holders received warrants to purchase up to 1,258,215 common shares with an exercise price of $0.70, that are exercisable six months after their issuance and will expire five years following the date that the warrants are initially exercisable, and are otherwise substantially similar to the form of the Common Warrants.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Preparation	Basis of Preparation The unaudited interim condensed financial statements have been prepared in accordance with U.S. GAAP for interim financial information and accordingly do not include all information and disclosures as required by U.S. GAAP for complete financial statements. The year-end unaudited interim condensed balance sheet was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. These unaudited interim condensed financial statements should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 20-F for the year ended December 31, 2021 and any public announcements made by the Company during the interim reporting period. In the opinion of management, these unaudited interim condensed financial statements reflect all adjustments necessary, which are of a normal recurring nature, to fairly state the balance sheets, statements of operating and comprehensive loss, changes in equity and cash flows for the interim reporting periods presented.
Use of Estimates	Use of Estimates The preparation of the unaudited interim condensed financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the interim reporting periods. Actual results could differ from those estimates and be based on events different from those assumptions. As part of these financial statements, the more significant estimates include the valuation allowance related to the Company’s deferred tax assets.
Property and equipment	Property and equipment Property and equipment are recorded at cost, net of accumulated depreciation and any accumulated impairment losses. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The useful lives of property and equipment are five years for furniture and fixtures and three years for software. Upon retirement or sale, the cost of disposed assets and their related accumulated depreciation are removed from the balance sheet. Any resulting net gains or losses on dispositions of property and equipment are included as a component of operating expenses within the Company’s statements of operating and comprehensive loss. Repair and maintenance costs that do not significantly add value to the property and equipment, or prolong its life, are charged to operating expense as incurred.
Earnings per Share	Earnings per Share Basic loss per common share is computed by dividing the net loss applicable to common shareholders by the weighted-average number of common shares outstanding during the periods presented. Diluted loss per common share is computed similar to basic loss per share, except that the denominator is increased to include the number of additional potential common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Potential common shares are excluded from the computation for a period in which a net loss is reported or if their effect is anti-dilutive. The Company’s potential common shares consist of warrants with their potential dilutive effect considered using the treasury method. For the six months ended June 30, 2022, 9,744,362 common shares from warrants and 1,778,592 treasury shares were excluded from the computation. For the year ended December 31, 2021, 5,409,746, shares from warrants and 1,474,853 treasury shares were excluded from the computation, respectively.
Segment Reporting	Segment Reporting The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Company’s singular focus is on developing therapeutics for the treatment of neurobehavioral and neurocognitive disorders. All of the Company’s tangible assets are held outside the United States of America.

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Prepaid Expenses and Other Current Assets [Abstract]
Schedule of prepaid expenses and other current assets	June 30, December 31, Vendor prepayments $ 23,200 $ 37,538 VAT recoverable and other current assets 59,830 38,551 Prepaid insurance 513,450 187,446 Prepaid expenses 71,841 28,419 Total prepaid expenses and other current assets $ 668,321 $ 291,954

Property and Equipment, net_ (T

Property and Equipment, net: (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	June 30, December 31, Cost Furniture and fixtures $ 13,341 $ 13,341 Software 26,219 26,219 Total cost 39,560 39,560 Accumulated depreciation (15,754 ) (10,050 ) Total property and equipment, net $ 23,806 $ 29,510

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Schedule of other accrued liabilities [Abstract]
Schedule of other accrued liabilities	June 30, December 31, Professional consultants’ expenses $ 177,401 $ 244,245 Vendor liabilities 53,681 16,954 Related party expenses 20,445 6,877 Accrued board fees 72,238 137,002 Accrued commitment fee 200,000 200,000 Other accrued expenses 10,835 61,371 Total other accrued liabilities $ 534,600 $ 666,449

Share Capital and Public Offe_2

Share Capital and Public Offerings (Tables)	6 Months Ended
	Jun. 30, 2022
Share Capital and Public Offerings [Abstract]
Schedule of common share warrant activity	Balance on January 1, 2022 5,409,746 Issuances 4,334,616 Exercises - Balance on June 30, 2022 9,744,362

Background (Details)

Background (Details) - USD ($) $ / shares in Units, $ in Millions		6 Months Ended
	Feb. 02, 2021	Jun. 30, 2022
Background (Details) [Line Items]
Initial public offering unit (in Shares)	4,819,277
Price per share unit (in Dollars per share)	$ 4.15
Description of warrant	Each unit consisted of one common share and one warrant to purchase one common share (the “Warrants”).
Net proceeds	$ 17
Expire term	5 years
Exercise price per share (in Dollars per share)	$ 4.15	$ 1.04
Additional purchase share (in Shares)	722,891
Additional warrants share (in Shares)	722,891
Warrant offering per share (in Dollars per share)	$ 0.01
Warrant purchase common share (in Shares)	722,891
Accumulated deficit		$ 50.3
Operating loss		8.7
Cash and cash equivalents		1.4
Fund operations		$ 1.5
Going concern term		1 year
Potential funding		$ 18.5
Going Concern [Member]
Background (Details) [Line Items]
Going concern term		1 year
Background [Member]
Background (Details) [Line Items]
Exercise price per share (in Dollars per share)	$ 4.15

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies (Details) [Line Items]
Common shares issued	9,744,362	5,409,746
Treasury shares issued	1,778,592	1,474,853
Furniture and Fixtures [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Property and equipment use full life	5 years
Software [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Property and equipment use full life	3 years

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - Schedule of prepaid expenses and other current assets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Schedule Of Prepaid Expenses And Other Current Assets [Abstract]
Vendor prepayments	$ 23,200	$ 37,538
VAT recoverable and other current assets	59,830	38,551
Prepaid insurance	513,450	187,446
Prepaid expenses	71,841	28,419
Total prepaid expenses and other current assets	$ 668,321	$ 291,954

Property and Equipment, net_ (D

Property and Equipment, net: (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Deprecation and related amortization expense	$ 5,704	$ 5,022

Property and Equipment, net_ _2

Property and Equipment, net: (Details) - Schedule of property and equipment - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Cost
Total cost	$ 39,560	$ 39,560
Accumulated depreciation	(15,754)	(10,050)
Total property and equipment, net	23,806	29,510
Furniture and fixtures [Member]
Cost
Total cost	13,341	13,341
Software [Member]
Cost
Total cost	$ 26,219	$ 26,219

Note Payable (Details)

Note Payable (Details) - USD ($)	Jun. 30, 2022	Jan. 31, 2022
Debt Disclosure [Abstract]
Note payable	$ 354,336	$ 704,160
Interest rate		3.90%

Other Accrued Liabilities (Deta

Other Accrued Liabilities (Details) - Schedule of other accrued liabilities - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Schedule Of Other Accrued Liabilities Abstract
Professional consultants’ expenses	$ 177,401	$ 244,245
Vendor liabilities	53,681	16,954
Related party expenses	20,445	6,877
Accrued board fees	72,238	137,002
Accrued commitment fee	200,000	200,000
Other accrued expenses	10,835	61,371
Total other accrued liabilities	$ 534,600	$ 666,449

Deferred Revenues (Details)

Deferred Revenues (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Deferred Revenue Disclosure [Abstract]
Non-refundable upfront payment	$ 2,500,000
Non-refundable milestone payments	16,000,000
Estimated total transaction price	2,500,000
Deferred revenue	2,500,000
Long term deferred revenue	$ 2,500,000	$ 2,500,000

Commitments and Contingencies (

Commitments and Contingencies (Details)	Mar. 10, 2021 USD ($)
Commitments and Contingencies [Abstract]
License consideration paid	$ 250,000
Milestone payments due, description	(i) $750,000 payable following the end of a Phase II meeting with the FDA, with the amount to be reduced to $375,000 if toxicology studies must be repeated; (ii) $2 million following the earlier of FDA marketing authorization of Quilience or Nolazol; (iii) 1% of any upfront and milestone payments, if any, from any sublicensees and (iv) $3 million as a one-time payment upon the Company’s product candidate reaching $250 million in cumulative sales.

Share Capital and Public Offe_3

Share Capital and Public Offerings (Details) - USD ($) $ / shares in Units, $ in Thousands				1 Months Ended		6 Months Ended
	Apr. 13, 2022	Mar. 05, 2022	Dec. 14, 2021	Apr. 25, 2022	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Feb. 02, 2021
Share Capital and Public Offerings (Details) [Line Items]
Issued common shares					22,000	19,564,512
Common shares offering, description				On April 25, 2022, the Company closed a registered direct offering with health-care focused institutional investors alongside participation from the Company’s Chairman of the Board of Directors, Ronald Hafner, for the purchase and sale of (i) 3,015,384 common shares, at a purchase price of $1.04 per share, and (ii) pre-funded warrants to purchase up to 1,184,616 common shares (the “Pre-Funded Warrants”) at a purchase price of $1.04 minus CHF 0.02 per Pre-Funded Warrant. The Chairman of our Board of Directors, Ronald Hafner, purchased 95,984 of the 3,015,384 common shares in the offering.
Warrants to purchase						3,150,000
Exercise price (in Dollars per share)						$ 1.04		$ 4.15
Initial exercise date						5 years
Aggregate gross proceeds, percentage						7%
Par value per share (in Dollars per share)		$ 0.02
Sale agreenent amount (in Dollars)					$ 31
Aggregate offering price (in Dollars)	$ 230
Gross proceeds percentage						3%
Treasury shares						1,778,592	1,474,853
Board allocated percent			15%
Warrant [Member]
Share Capital and Public Offerings (Details) [Line Items]
Warrants to purchase				3,150,000
Exercise price (in Dollars per share)				$ 1.04
Initial exercise date				5 years

Share Capital and Public Offe_4

Share Capital and Public Offerings (Details) - Schedule of common share warrant activity	6 Months Ended
	Jun. 30, 2022 USD ($) shares
Schedule of common share warrant activity [Abstract]
Balance on January 1, 2022	$ 5,409,746
Issuances	$ 4,334,616
Exercises (in Shares) | shares
Balance on June 30, 2022	$ 9,744,362

Related Party Consulting Agre_2

Related Party Consulting Agreements (Details)	1 Months Ended				6 Months Ended
	Mar. 31, 2021 CHF (SFr)	Feb. 28, 2021 CHF (SFr)	Oct. 31, 2020 CHF (SFr)	Oct. 31, 2019 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Oct. 31, 2019 CHF (SFr)
Related Party Consulting Agreements (Details) [Line Items]
Consulting fees				$ 2,705			SFr 2,500
Raising fund				5%
Consulting Agreement [Member]
Related Party Consulting Agreements (Details) [Line Items]
General and administrative expenses					$ 19,045	$ 82,830
CHG BioVenture SA [Member]
Related Party Consulting Agreements (Details) [Line Items]
General and administrative expenses					$ 74,989	82,331
Monthly fee (in Francs) | SFr			SFr 17,500
Bonus annual fee percentage			15%
Other transaction percentage			1%
Related party description					the Company has agreed to pay CHG BioVenture SA a monthly fee CHF 4’375 ($4,733) plus 7.7% VAT for his services. In addition, CHG BioVenture SA is eligible for a 1% success fee payment in the event of closing of a partnering agreement in China.
Mr. Roy [Member]
Related Party Consulting Agreements (Details) [Line Items]
General and administrative expenses					$ 49,728	52,298
Service payable (in Francs) | SFr	SFr 2,000
Mr. Konofal [Member]
Related Party Consulting Agreements (Details) [Line Items]
General and administrative expenses					103,582	87,107
Service payable (in Francs) | SFr		SFr 2,000
Mr. Camozzi [Member]
Related Party Consulting Agreements (Details) [Line Items]
General and administrative expenses					75,121	$ 53,002
Service payable (in Francs) | SFr	SFr 230
VATServicesPercentage	7.70%
Mr. Hellmann [Member]
Related Party Consulting Agreements (Details) [Line Items]
General and administrative expenses					13,333
Annual salary					160,000
Bonus amount					$ 56,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)		6 Months Ended
	Aug. 19, 2022	Jun. 30, 2022	Sep. 30, 2022	Jul. 21, 2022
Subsequent Events [Abstract]
Pre-funded warrants				1,184,616
Per share value				$ 0.02
Total gross proceeds				$ 23,692
Issued unsecured shot-term notes amount	$ 1,530,000
Related parties amount	$ 430,000
Maturity date	Nov. 19, 2022
Bear on annual interest rate	10%
Warrant coverage rate	10%
Coverage with a strike price	$ 0.497
Discount to the share price	20%
Purchase agreement description			Effective as of September 30, 2022, the Company, entered into a securities purchase agreement, or the Purchase Agreement, providing for the issuance in a private placement offering of (i) 5,194,802 common shares at a purchase price of $0.77 per share, and (ii) warrants, or Common Warrants, to purchase up to an aggregate of 2,597,401 common shares at an exercise of $0.70 per share. The Common Warrants will be exercisable immediately and will have a term of 5 years. The offering closed on October 7, 2022. The Company’s Chairman of the Board of Director, Ronald Hafner, purchased 324,675 common shares in the offering and the Company’s recently appointed Chief Medical Officer, George Apostol, purchased 1,298,701 common shares in the offering.
Gross proceeds		$ 4,000,000
Aggregate gross proceeds received percentage		3.50%
Existing shot-term notes description		At the closing of the offering, the Company’s existing short-term notes, with an aggregate principal balance of $1.53 million plus all accrued interest, that were issued in August 2022, converted into 2,516,429 common shares and the holders received warrants to purchase up to 1,258,215 common shares with an exercise price of $0.70, that are exercisable six months after their issuance and will expire five years following the date that the warrants are initially exercisable, and are otherwise substantially similar to the form of the Common Warrants.