Kiromic BioPharma (KRBP) 10-Q 10 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 08, 2024
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Entity File Number	001-39619
Entity Registrant Name	Kiromic BioPharma, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-4762913
Entity Address, Address Line One	7707 Fannin Street
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Houston
Entity Address State Or Province	TX
Entity Address, Postal Zip Code	77054
City Area Code	832
Local Phone Number	968-4888
Title of 12(b) Security	Common Shares, par value $0.001 per share
Trading Symbol	KRBP
Security Exchange Name	NONE
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
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,288,235
Entity Central Index Key	0001792581
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 3,676	$ 3,204
Prepaid expenses and other current assets	1,892	1,226
Total current assets	5,568	4,430
Property and equipment, net	5,650	6,175
Operating lease right-of-use asset, net	1,389	1,543
Other assets	21	21
Total Assets	12,628	12,169
Current Liabilities:
Senior secured convertible promissory notes	12,000	14,000
Accounts payable	2,000	2,136
Accrued expenses and other current liabilities	1,251	1,673
Interest payable	3,008	1,938
Note payable	192
Operating lease liability - short term	642	631
Total current liabilities	19,093	20,378
Operating lease liability - long term	747	912
Total Liabilities	19,840	21,290
Commitments and contingencies (Note 8)
Stockholders' Deficit:
Preferred Stock, $0.0001 par value: 60,000,000 shares authorized, 22,000 and 14,000 issued and outstanding, with a liquidation preference of $25,095 and $16,206, as of March 31, 2024 and December 31, 2023, respectively
Common stock, $0.001 par value: 300,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 1,288,235 and 1,258,460 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	1	1
Additional paid-in capital	121,832	113,775
Accumulated deficit	(129,045)	(122,897)
Total Stockholders' Deficit	(7,212)	(9,121)
Total Liabilities and Stockholders' Deficit	$ 12,628	$ 12,169

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Condensed Consolidated Balance Sheets
Preferred stock, par value ( in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized	60,000,000	60,000,000
Preferred stock, issued	22,000	14,000
Preferred stock, outstanding	22,000	14,000
Liquidation preference, value	$ 25,095	$ 16,206
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	300,000,000	300,000,000
Common stock, issued	1,288,235	1,258,460
Common stock, outstanding	1,288,235	1,258,460

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating expenses:
Research and development	$ 3,022	$ 2,075
General and administrative	2,091	2,702
Total operating expenses	5,113	4,777
Loss from operations	(5,113)	(4,777)
Other expense:
Interest expense	(1,071)	(444)
Debt issuance amortization		(79)
Other income	36
Total other expense	(1,035)	(523)
Net loss	$ (6,148)	$ (5,300)
Net loss per preferred share, basic	$ (405.61)
Net loss per preferred share, diluted	(405.61)
Net loss per common share, basic	(1)	$ (6.17)
Net loss per common share, diluted	$ (1)	$ (6.17)
Weighted average preferred shares outstanding, basic	14,352
Weighted average preferred shares outstanding, diluted	14,352
Weighted average common shares outstanding, basic	1,304,548	872,818
Weighted average common shares outstanding, diluted	1,304,548	872,818

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Deficit - USD ($) $ in Thousands	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at beginning of period at Dec. 31, 2022		$ 1	$ 96,172	$ (101,948)	$ (5,775)
Balance at beginning of period (in shares) at Dec. 31, 2022		648,384
Common stock discount amortization			85		85
Warrants underlying common stock issuance			(85)		(85)
Released restricted stock units (in shares)		1,773
Conversion of subordinated convertible promissory notes into shares of common stock			2,914		2,914
Conversion of subordinated convertible notes into shares of common stock (in shares)		329,086
Stock compensation expense			21		21
Net loss				(5,300)	(5,300)
Balance at end of period at Mar. 31, 2023		$ 1	99,107	(107,248)	(8,140)
Balance at end of period (in shares) at Mar. 31, 2023		979,243
Balance at beginning of period at Dec. 31, 2023		$ 1	113,775	(122,897)	(9,121)
Balance at beginning of period (in shares) at Dec. 31, 2023	14,000	1,258,460
Common stock discount amortization			86		86
Warrants underlying common stock issuance			(86)		(86)
Released restricted stock units (in shares)		29,775
Issuance of convertible preferred stock			8,000		8,000
Issuance of convertible preferred stock (in shares)	8,000
Stock compensation expense			57		57
Net loss				(6,148)	(6,148)
Balance at end of period at Mar. 31, 2024		$ 1	$ 121,832	$ (129,045)	$ (7,212)
Balance at end of period (in shares) at Mar. 31, 2024	22,000	1,288,235

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (6,148)	$ (5,300)
Adjustments to reconcile net loss to net cash used for operating activities:
Depreciation	557	556
Operating lease non-cash expense	154	132
Stock compensation expense	57	21
Amortization of debt issuance costs		79
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(666)	(419)
Accounts payable	(147)	844
Interest payable	1,070	431
Accrued expenses and other current liabilities	(422)	(327)
Operating lease liability	(154)	(144)
Net cash used for operating activities	(5,699)	(4,128)
Cash flows from investing activities:
Purchases of property and equipment	(21)
Net cash used for investing activities	(21)
Cash flows from financing activities:
Proceeds from senior secured convertible note payable	6,000	6,000
Borrowings from note payable	400
Repayments of note payable	(208)	(163)
Debt issuance costs		(300)
Net cash provided by financing activities	6,192	5,537
Net change in cash and cash equivalents	472	1,409
Cash and cash equivalents:
Beginning of period	3,204	645
End of period	3,676	2,054
Supplemental disclosures of cash flow information:
Cash paid for interest on note payable	5	13
Non-cash investing and financing activities:
Exchange of 25% senior convertible promissory notes into preferred stock	8,000
Conversion of subordinated convertible promissory notes into common stock		$ (2,914)
Property and equipment in accounts payable	$ 11

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Parenthetical)	Mar. 31, 2024	Mar. 28, 2024	Jul. 18, 2023	Apr. 02, 2023
25% Senior Secured Convertible Promissory Notes
Interest rate (as a percent)	25%	25%	25%	25%

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2024
ORGANIZATION
ORGANIZATION	KIROMIC BIOPHARMA, INC. Notes to Condensed Consolidated Financial Statements (Unaudited) 1. ORGANIZATION Nature of Business Kiromic BioPharma, Inc. and subsidiaries (the "Company" or “We”) are a clinical stage, fully integrated biotherapeutics company formed under the Texas Business Organizations Code in December 2012. We maintain offices in Houston, Texas. We have not generated any revenue to date. We are an allogeneic Gamma Delta T-cell therapy company featuring novel, proprietary end-to-end bioinformatic, AI targeting and manufacturing technologies to address solid tumors. Our end-to-end approach consists of target discovery and validation, product development, and on-site current good manufacturing practices (“cGMP”) which we believe will allow us to leverage a new framework for the next generation of cell therapies. From a development standpoint, we utilize innovative non-engineered and engineered Gamma Delta T cell (GDT) technologies and are developing proprietary, virus-free cell engineering methods to develop novel therapies for solid tumors that we believe will be effective and cost-efficient. Deltacel™️ (Deltacel) is our first allogeneic, off-the-shelf GDT cell-based product currently in a Phase 1 clinical trial. Our Procel™️ and Isocel™️ product candidates consist of allogeneic, engineered, off-the-shelf CAR-GDT cells, and they are currently in the preclinical development stage. Our Procel product candidate consists of engineered GDTs that target PD-L1. Our Isocel product candidate consists of engineered GDTs that target Mesothelin Isoform 2 (“Iso-Meso”). Our Deltacel™️ product candidate consists of non-engineered GDTs which we expand, enrich, and activate ex-vivo We have a total of five clinical programs to study our key product candidates: 1) Deltacel-01: This phase 1 clinical trial is active, and it is intended to evaluate Deltacel in combination with low-dose targeted radiation for patients with stage 4 non-small cell lung cancer (NSCLC). 2) Isocel combination: This phase 1 clinical trial is expected to evaluate Isocel in combination with low-dose radiation for patients with Mesothelin Isoform 2 positive solid malignancies. 3) Alexis-ISO-1: This phase 1 clinical trial is expected to evaluate Isocel in patients with Mesothelin Isoform 2 positive solid malignancies. 4) Procel combination: This phase 1 clinical trial is expected to evaluate Procel in combination with low-dose radiation for patients with PD-L1 positive solid malignancies. 5) Alexis-PRO-1: This phase 1 clinical trial is expected to evaluate Procel in patients with PD-L1 positive solid malignancies. Depending on pre-clinical evidence, we might submit 1 IND for Isocel and 1 for Procel, for a total of 2 new INDs in 2025, to study our product candidates either with or without low-dose radiation. Going Concern— These consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. ​ The Company has incurred significant losses and negative cash flows from operations since inception and expects to incur additional losses until such time that it can generate significant revenue from the commercialization of its product candidates. The Company had negative cash flow from operations of $5.7 million for the three months ended March 31, 2024, and an accumulated deficit of $129 million as of March 31, 2024. To date, the Company has relied on equity and debt financing to fund its operations. The Company’s product candidates are still in the early stages of development, and substantial additional financing will be needed by the Company to fund its operations and ongoing research and development efforts prior to the commercialization, if any, of its product candidates. The Company does not have sufficient cash on hand or available liquidity to meet its obligations through the twelve months following the date the condensed consolidated financial statements are issued. This condition raises substantial doubt about the Company’s ability to continue as a going concern. ​ Given its projected operating requirements and its existing cash and cash equivalents, management’s plans include evaluating different strategies to obtain the required funding of future operations. These plans may include, but are not limited to, additional funding from current or new investors. However, there can be no assurance that the Company will be able to secure such additional financing, or if available, that it will be sufficient to meet its needs or on favorable terms. Therefore, the plans cannot be deemed probable of being implemented. As a result, the Company has concluded that management’s plans do not alleviate substantial doubt about the Company’s ability to continue as a going concern. In the event the Company is unable to secure financing sufficient to allow it to meet its obligations as they become due, the Company may need to file a voluntary petition for relief under the United States Bankruptcy Code in order to implement a restructuring plan or liquidation. ​ The condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information (Accounting Standards Codification ("ASC") 270, Interim Reporting) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information necessary for a full presentation of financial position, results of operations, and cash flows in conformity with GAAP. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. In the opinion of management, the condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the results of the Company for the periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Form 10-K for the year ended December 31, 2023. The results of operations for the period ended March 31, 2024, are not necessarily indicative of the operating results that may be expected for a full year. The consolidated balance sheet as of December 31, 2023, contains financial information taken from the audited Company consolidated financial statements as of that date. All intercompany balances were eliminated upon consolidation. Use of Estimates Concentrations of Credit Risk and Other Uncertainties The Company is subject to certain risks and uncertainties from changes in any of the following areas that the Company believes could have a material adverse effect on future financial position or results of operations: the ability to obtain regulatory approval and market acceptance of, and reimbursement for, the Company’s product candidates; the performance of third-party clinical research organizations and manufacturers; protection of the intellectual property; litigation or claims against the Company based on intellectual property, patent, product, regulatory or other factors; the Company’s ability to attract and retain employees necessary to support commercial success; and changes in the industry or customer requirements including the emergence of competitive products with new capabilities. Property and Equipment Internal Use Software Development Costs Impairment of Long-Lived Assets Comprehensive Loss Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which such temporary differences are expected to be recovered or settled. The Company records valuation allowances to reduce deferred income tax assets to the amount that is more likely than not to be realized. The Company records uncertain tax positions in accordance with Accounting Standard Codification (“ASC 740”), Income Taxes Research and Development Expense regulatory filings, equipment and supplies used in developing products prior to market approval and an allocation of certain overhead costs such as facility and related expenses. The Company accrues and expenses costs of services provided by contract research organizations in connection with preclinical studies and contract manufacturing organizations engaged to manufacture clinical trial material, costs of licensing technology, and costs of services provided by research organizations and service providers. Upfront payments and milestone payments made for the licensing of technology are expensed as research and development in the period in which they are incurred if the technology is not expected to have any alternative future uses other than the specific research and development project for which it was intended. Nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are recorded as prepaid expenses. The prepaid amounts are expensed as the related goods are delivered or the services are performed rather than when the payment is made. Nonvested Stock Options and Restricted Stock Units — ’ “ ” “ ” “ ” “ ” The vesting conditions for stock options, RSUs and RSAs include annual and monthly vesting. Annual vesting conditions are for 10-year The vesting conditions for RSUs include cliff vesting conditions. Certain RSUs vest with a range of Stock-Based Compensation Compensation—Stock Compensation The Company estimates the grant date fair value of stock options using the Black-Scholes model and the assumptions used to value such stock options are determined as follows: Expected Term. Risk-Free Interest Rate. Volatility. Dividend Yield. Common Stock Valuations . The closing price listed on the OTCQB Capital Market or previously the NASDAQ Capital Market for the Company’s common stock on the date of the grant is used as the common stock valuation. Segment Data Recently Issued Accounting Pronouncements Accounting Standards Not Yet Adopted Segments . ​ Income Taxes .

NET LOSS PER COMMON STOCK SHARE

NET LOSS PER COMMON STOCK SHARE	3 Months Ended
	Mar. 31, 2024
NET LOSS PER COMMON STOCK SHARE
NET LOSS PER COMMON STOCK SHARE	3. NET LOSS PER COMMON STOCK SHARE Basic and diluted net loss per common share is determined by dividing net loss less deemed dividends by the weighted-average common shares outstanding during the period. For all periods presented the common shares underlying the stock options, RSUs and warrants have been excluded from the calculation because their effect would be anti-dilutive. Therefore, the weighted-average common shares outstanding used to calculate both basic and diluted loss per common shares are the same. The following table illustrates the computation of basic and diluted loss per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, (In thousands) 2024 2023 Net loss ​ $ (6,148) ​ $ (5,300) Less: Initial Public Offering Common Stock discount amortization ​ ​ (25) ​ ​ (25) Less: Public Offering Common Stock discount amortization ​ ​ (61) ​ ​ (60) Less: Undeclared dividends attributable to preferred stock ​ ​ (889) ​ ​ — Net loss attributable to common shareholders ​ $ (7,123) ​ $ (5,385) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Three Months Ended ​ March 31, 2024 ​ March 31, 2023 (In thousands, except share and per share amounts) ​ Common Stock Preferred Stock Common Stock Preferred Stock Net loss per share, basic and diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocation of undistributed net loss ​ $ (1,302) ​ $ (5,821) ​ $ (5,385) ​ $ — Weighted average shares outstanding, basic and diluted ​ ​ 1,304,548 ​ ​ 14,352 ​ ​ 872,818 ​ ​ — Basic and diluted net loss per share ​ $ (1.00) ​ $ (405.61) ​ $ (6.17) ​ $ — ​ For the three months ended March 31, 2024, there were 114,009 restricted stock units and 15,416 warrants that were excluded from the computations of diluted weighted-average shares of common stock because they were anti-dilutive. ​ During the three months ended March 31, 2024, the Company entered into an Exchange Agreement whereby outstanding promissory notes totaling $8,000,000 were exchanged for 8,000 shares of Series D Convertible Voting Preferred Stock (the “Series D Stock”). See Note 10- Stockholder’s Equity for details about conversion price. The Series D Stock accrues an annual 25% dividend, whether or not declared, which if unpaid is added to the aggregate liquidation preference. During the three months ended March 31, 2024 and 2023, the preferred shareholders earned $889 thousand and none, respectively, of preferred dividends. The dividends were not accrued on the condensed consolidated balance sheet as of March 31, 2024, as these dividends were not declared. ​

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	3 Months Ended
	Mar. 31, 2024
PROPERTY AND EQUIPMENT, NET
PROPERTY AND EQUIPMENT, NET	4. PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ (In thousands) March 31, 2024 December 31, 2023 Equipment $ 3,135 ​ $ 3,126 Leasehold improvements 7,372 ​ 7,372 Office furniture, fixtures, and equipment 137 ​ 137 Software 360 ​ 360 Construction in progress 124 ​ 101 ​ 11,128 ​ 11,097 Less: Accumulated depreciation (5,478) ​ (4,921) Total $ 5,650 ​ $ 6,175 ​ Depreciation expense was $557 thousand and $556 thousand for the three months ended March 31, 2024 and 2023, respectively.

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	3 Months Ended
	Mar. 31, 2024
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	5. Accrued expenses and other current liabilities consisted of the following as of: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) March 31, 2024 December 31, 2023 Accrued litigation ​ $ — ​ $ 448 Accrued compensation ​ ​ 946 ​ 865 Accrued consulting and outside services ​ 305 ​ 361 Total ​ $ 1,251 ​ $ 1,673 ​

NOTE PAYABLE

NOTE PAYABLE	3 Months Ended
	Mar. 31, 2024
NOTE PAYABLE
NOTE PAYABLE	6. In January 2024, the Company entered into a financing arrangement for its Director and Officer Insurance policy. The total amount financed was approximately $400 thousand with an annual interest rate of 4.93%, to be paid over a period of eleven months. As of March 31, 2024, the remaining payable balance on the financed amount was $192,000.

SENIOR SECURED CONVERTIBLE PROM

SENIOR SECURED CONVERTIBLE PROMISSORY NOTE	3 Months Ended
	Mar. 31, 2024
SENIOR SECURED CONVERTIBLE PROMISSORY NOTE
SENIOR SECURED CONVERTIBLE PROMISSORY NOTE	7. The Company began issuing senior secured convertible promissory notes (each a “CPN” and together the “Notes”) payable to a private accredited investor (the “Investor”) during 2022. Through March 31, 2024, the Company has issued to the Investor thirteen notes totaling $34 million, of which $6 million were issued during the three months ended March 31, 2024. The notes are each 25% Senior Secured Convertible Promissory Notes with largely consistent terms including a stated interest rate of 25% per year, a stated conversion price subject to a beneficial ownership limitation and share cap representing a certain percentage of the outstanding shares of Common Stock at the time of conversion, and a one-year maturity. As of March 31, 2024, there were five outstanding notes. Two outstanding notes with a value of $2,400,000, were each issued with a conversion price of $6.50. Two outstanding notes with a value of $2,400,000 were each issued with a conversion price of $5.00. One outstanding note with a value of $2,400,000 was issued with a conversion price of $2.50. The stated interest rates for these notes increase to 27% per annum or the highest rate then allowed under applicable law (whichever is lower) upon the occurrence of an event of default, including the failure by the Company to make payment of principal or interest due under the related note on the respective maturity date, and any commencement by the Company of a case under any applicable bankruptcy or insolvency law. In April 2023, July 2023 and March 2024, the Company executed an exchange agreement to convert $8,000,000, $6,000,000 and $8,000,000 of the senior secured promissory notes principal into shares of preferred stock, respectively. See Note 10— Stockholder’s Equity for further discussion. Senior secured convertible promissory notes consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) March 31, 2024 December 31, 2023 Senior secured convertible promissory note, maturing June 26, 2024 ​ ​ 2,400 ​ 2,400 Senior secured convertible promissory note, maturing July 25, 2024 ​ 2,400 ​ 2,400 Senior secured convertible promissory note, maturing August 25, 2024 ​ ​ 2,400 ​ 2,400 Senior secured convertible promissory note, maturing September 27, 2024 ​ ​ 2,400 ​ ​ 2,400 Senior secured convertible promissory note, maturing November 2, 2024 ​ ​ 2,400 ​ ​ 2,400 Senior secured convertible promissory note, maturing December 12, 2024 ​ ​ — ​ ​ 2,000 Total senior secured convertible promissory notes ​ $ 12,000 ​ $ 14,000 ​

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2024
COMMITMENTS AND CONTINGENCIES.
COMMITMENTS AND CONTINGENCIES	8. COMMITMENTS AND CONTINGENCIES License Agreements Legal Proceedings ​ Jason Terrel Claim ​ On March 22, 2021, Jason Terrell (“Terrell”), a former consultant and director of the Company, commenced an action against us in the Court of Chancery of the State of Delaware, C.A. No. 2021-0248-MTZ (the “Action”). In the Action, Terrell seeks a declaratory judgment that we are obligated to issue him (i) options to purchase 16,667 shares of our common stock at a price of $15.00 per share pursuant to an alleged 2014 consulting agreement, and (ii) options to purchase an additional 16,667 shares of common stock at a price of $5.10 per share pursuant to an alleged January 2017 non-employee director options agreement. In his complaint, Terrell also claimed that, pursuant to our operative certificate of incorporation, he is entitled to indemnification from us for attorneys’ fees and costs he incurs in connection with the Action because the Action arises in connection with his position as a former director. ​ We dispute Terrell’s claims and allegations in the Action and intend to vigorously defend against them. On May 21, 2021, the Company filed a motion to dismiss Terrell’s claims in the actions with prejudice, arguing that (i) Terrell’s options-related claims fail because his 2014 and January 2017 agreements were explicitly superseded by a later options agreement, under which Terrell relinquished his prior options; and (ii) Terrell is not entitled to indemnification because the Action relates to contracts between the Company and Terrell in his personal capacity, and not in connection with any activities or duties of Terrell in his official capacity as former director. In response to the motion filed on June 2021, Terrell withdrew his claim for indemnification, but opposed the portion seeking dismissal of his declaratory judgment claim. The motion was fully briefed with the filing of the Company’s reply brief on July 7, 2021. ​ Oral argument was held before the Vice Chancellor on October 20, 2021. During oral argument, the Vice Chancellor invited the parties to submit supplemental letter briefs on the question of whether the Court of Chancery even had the authority to adjudicate the Action in light of the delegation of authority in Terrell’s most recent stock option agreement with the Company (the “SOA”) to the Company’s Compensation Committee to resolve all disputes regarding the interpretation of the SOA. The parties submitted simultaneous supplemental letters briefs on this issue on November 15, 2021. On January 20, 2022, the Vice Chancellor issued her decision on our motion to dismiss, ruling that the Action is stayed until the Compensation Committee itself resolves whether it has sole authority to resolve the parties’ contract interpretation dispute. ​ Subsequently, the parties agreed upon a process for coordinating submissions and/or presentations to the Compensation Committee. The parties made their respective written submissions to the Compensation Committee on March 31, 2022, and on July 21, 2022, the Compensation Committee determined that (i) the Compensation Committee has sole authority under the SOA to resolve the parties’ contract interpretation dispute, and (ii) Terrell’s most recent options agreement superseded and nullified any option rights Terrell may have had under his prior agreements. On August 2, 2022, the Vice Chancellor issued an order dismissing the Action for lack of subject matter jurisdiction. ​ On August 23, 2022, Terrell filed a notice of appeal of the Vice Chancellor’s order of dismissal to the Delaware Supreme Court. ​ Oral argument on Terrell’s appeal was held before the Delaware Supreme Court on February 8, 2023. On May 4, 2023, the Delaware Supreme Court issued a written opinion (the “Opinion”) reversing the Vice Chancellor’s order of dismissal and remanding to Chancery Court for further proceedings consistent with the Opinion. In its Opinion, the Delaware Supreme Court affirmed several of the Chancery Court’s legal determinations on the motion to dismiss, but concluded that Chancery Court itself should independently review the Compensation Committee’s determinations under Delaware law. ​ The Delaware Supreme Court also rejected Terrell’s argument that the waiver clause in the third options agreement (which, according to the Company, superseded and extinguished unexercised options under the prior options agreements) was unconscionable. ​ Pursuant to a stipulated scheduling order, the parties submitted supplemental letter briefs to the Chancery Court in mid-August 2023, addressing the impact of the Opinion on the Company’s motion to dismiss. Thereafter, the Chancery Court notified the parties that it had received the supplemental letter briefs and would take the matter under advisement without holding oral argument. ​ On January 31, 2024, the Chancery Court issued a letter opinion that dismissed Terrell’s claims based on the contract-interpretation grounds the Company originally advanced back in 2021, as well as the Delaware Supreme Court’s determination that the third options agreement was not unconscionable. On March 11, 2024, the Chancery Court entered a stipulated form of Final Order and Judgment, dismissing Terrell’s claims consistent with the Chancery Court’s January 31, 2024 letter opinion. Terrell thereafter commenced an appeal of the dismissal to the Delaware Supreme Court. Under the briefing schedule ordered by the Delaware Supreme Court, Terrell’s opening appellate brief is due on or before May 9, 2024, and the Company’s answering brief is due 30 days after the date of service of Terrell’s opening brief. On appeal, the Company intends to vigorously argue that the Chancery Court’s dismissal should be affirmed. ​ Karp and Podmore Class Actions ​ On August 5, 2022, Ronald H. Karp, filed a class action complaint in the United States District Court for the Southern District of New York (the “Karp Class Action”) in connection with a public offering by the Company that closed on or about July 2, 2021, and asserting claims against the Company and certain current and former officers and directors of the Company for alleged violations of Sections 11, 12, and 15 of the Securities Act of 1933 in connection with the purchase of common stock through the Company’s public offering that closed on July 2, 2021 and Section 10(b) of the Exchange Act of 1934 and Rule 10b-5 promulgated thereunder in connection with the certain statements and acts made by the defendants between June 25, 2021 and August 13, 2021. On October 3, 2022, Joseph Podmore filed a class action complaint in the United States District Court for the Southern District of New York (the “Podmore Class Action”) raising similar claims. ​ The Karp Class Action and the Podmore Class Action were consolidated and are collectively referred to as the “Class Action”. Please refer to the Settlement of the Class Action described more fully below. ​ Settlement in Principle of the Class Action ​ On August 7, 2023, we entered into a term sheet with the plaintiffs in the Class Action, to settle in principle (and globally resolve) the Class Action. We subsequently reached agreement with the plaintiffs in the Class Action on all settlement materials and terms including with respect to payment of up to $2,300,000 and, on September 29, 2023, counsel for plaintiffs submitted the proposed settlement materials to the Court for approval. Of this amount, insurance covered $570,000, resulting in a net settlement of $1,730,000 owed by the Company. As of March 31, 2024, we have paid the totality of the settlement to the plaintiffs, of which $448,000 was payable as of December 31, 2023. ​ The Company regularly assesses all contingencies and believes, based on information presently known, the Company is not involved in any other matters that would have a material effect on the Company’s financial position, results of operations and cash flows.

LEASES

LEASES	3 Months Ended
	Mar. 31, 2024
Leases
LEASES	​ 9 . The Company leases real estate for office and warehouse space under non-cancelable operating leases, with a total rentable space of 149,000 square feet. The Company intends to use the full lease term under the existing lease agreement which is currently set to expire on April 30, 2026. As of March 31, 2024, the Company is not able to determine if any renewal options will be exercised. There are no variable payments associated with the lease agreements, as the rent payments are predetermined on a fixed schedule. The following table indicates the balance sheet line items that include the right-of-use assets and lease liabilities for our operating lease: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) March 31, 2024 ​ ​ December 31, 2023 ​ ​ Operating lease ​ ​ Operating lease Right-of-Use Asset ​ ​ ​ ​ ​ ​ Operating lease, net ​ $ 1,389 ​ $ 1,543 Total right-of use asset, net ​ $ 1,389 ​ $ 1,543 ​ ​ ​ ​ ​ ​ ​ Lease Liabilities ​ ​ ​ ​ ​ ​ Operating lease - short term ​ $ (642) ​ $ (631) Operating lease - long term ​ ​ (747) ​ ​ (912) Total lease liabilities ​ $ (1,389) ​ $ (1,543) ​ For the three months ended March 31, 2024, the components of lease expense were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended (In thousands) ​ ​ March 31, 2024 ​ ​ March 31, 2023 ​ Operating lease cost allocated to research and development expense ​ $ 113 ​ $ 90 ​ Operating lease cost allocated to general and administrative expense ​ ​ 66 ​ ​ 90 ​ Total lease expense ​ $ 179 ​ $ 180 ​ Weighted-average remaining lease term ​ ​ 2.09 ​ ​ 3.09 ​ Weighted-average discount rate ​ ​ 7.12 % ​ 7.12 % ​ As of March 31, 2024, the maturities of the Company’s operating lease liabilities were as follows: ​ ​ ​ ​ ​ Maturity of Lease Liabilities ​ ​ Operating lease 2024 (remaining) ​ $ 538 2025 ​ ​ 725 2026 ​ ​ 243 Total lease payments ​ ​ 1,506 Less: imputed interest ​ ​ (117) Present value of lease payments ​ $ 1,389 ​

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2024
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	10 . Stock The Preferred Shares are convertible into shares of the Company’s common stock, par value $0.001 per share. The Preferred Shares are voting stock and holders are entitled to vote together with the Common Stock on an as-if-converted-to-Common-Stock basis as determined by dividing the Liquidation Preference with respect to such shares of Preferred Shares by their conversion price. Holders of Common Stock are entitled to one vote for each share of Common Stock held on all matters submitted to a vote of stockholders. Accordingly, holders of Preferred Shares are entitled to one vote for each whole share of Common Stock into which their Preferred Shares are convertible on all matters submitted to a vote of stockholders. Cumulative Rights of Series C and D Stock Shareholders — Participating Rights of Series C and D Stock Shareholders — Exchange Agreements On April 2, 2023, the Company entered into an Exchange Agreement with the holder of promissory notes to exchange an aggregate principal amount of $8 million of the Company’s 25% Senior Secured Convertible Promissory Notes for 8,000 shares of Series C Stock. The $8 million Senior Secured Convertible Promissory Notes is the aggregate of four promissory notes that were issued in the previous months, for $2 million each. On July 18, 2023, the Company entered into an Exchange Agreement (the “July 18 Exchange Agreement”) with the holder of promissory notes of the Company (the “Holder”) pursuant to which the Holder agreed to exchange aggregate principal amount of $6 million of the Company’s 25% Senior Secured Convertible Promissory Notes (the “July 18 Exchange Notes”) for 6,000 shares of Series C Stock. The $6 million Senior Secured Convertible Promissory Notes is the aggregate of three promissory notes that were issued in the previous months, for $2 million each. On March 28, 2024, the Company entered into an Exchange Agreement with the holder of promissory notes to exchange an aggregate principal amount of $8 million of the Company’s 25% Senior Secured Convertible Promissory Notes for 8,000 shares of Series D Stock. The $8 million Senior Secured Convertible Promissory Notes is the aggregate of four promissory notes that were issued in the previous months, for $2 million each. Warrants ​ Standby Equity Purchase Agreement Financing ​ On October 13, 2022, the Company entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, Ltd. (the “Investor”). Pursuant to the SEPA, the Company has the right to sell to the Investor up to $8,000,000 (the “Commitment Amount”) of its shares of common stock, par value $0.001 per share (“Common Stock”), at the Company’s request any time during the commitment period commencing on October 13, 2022 and terminating on the earliest of (i) the first day of the month following the 24-month ​ On May 24, 2023, we exercised the Commitment increase under the SEPA and issued to YA II PN, Ltd. 97,000 shares of common stock at a purchase price of $3.89, for an advance amount of $377,000. ​ On June 2, 2023, we exercised an additional Commitment increase under the SEPA and issued to YA II PN, Ltd. 100,000 shares of common stock at a purchase price of $2.82, for an advance amount of $282,100. ​

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2024
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	11. 2017 Stock Incentive Plan—Restricted Stock Units The following table summarizes the activity for all RSUs outstanding under the 2017 Plan at March 31, 2024 and March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ Weighted Average ​ Weighted Average ​ ​ ​ ​ Grant Date ​ ​ ​ Grant Date ​ ​ ​ ​ Fair Value ​ ​ ​ Fair Value ​ ​ Shares ​ Per Share ​ Shares ​ Per Share Nonvested RSUs at beginning of period 605 ​ $ 285.36 650 ​ $ 259.50 Granted — ​ — — ​ — Vested — ​ 255.85 (35) ​ 252.60 Cancelled and forfeited (30) ​ 260.10 — ​ — Nonvested RSUs at March 31 575 ​ $ 285.36 615 ​ $ 258.88 ​ Total stock compensation expense recognized from stock-based compensation awards classified as restricted stock units were recognized in the condensed consolidated statements of operations for the three months ended March 31, 2024 and 2023, as follows: ​ ​ ​ ​ ​ ​ ​ ​ March 31, (In thousands) 2024 2023 Research and development $ 5 ​ $ — General and administrative 8 ​ — Total $ 13 ​ $ — ​ ​ ​ 2017 Stock Incentive Plan— Stock Options ​ The following table summarizes the activity for all stock options outstanding at March 31, 2024 under the 2017 Plan: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ Weighted ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ Average ​ ​ ​ ​ Exercise ​ ​ ​ Exercise ​ ​ Shares ​ Price ​ Shares ​ Price Options outstanding at beginning of period 5,853 ​ $ 285.36 11,286 ​ $ 254.40 Granted — ​ — — ​ — Exercised — ​ — — ​ — Cancelled and forfeited — ​ — (5,185) ​ 215.35 Balance at March 31 5,853 ​ $ 285.36 6,101 ​ $ 287.58 Options exercisable at March 31: 5,853 ​ $ 285.36 6,083 ​ $ 286.20 ​ In addition, the weighted average remaining contractual life for the options is 3.68 years and 3.93 years as of , 2024, and December 31, 2023, respectively. The options have no intrinsic value as of , 2024, or December 31, 2023, respectively. ​ There were no stock compensation expenses recognized from stock-based compensation awards classified as stock options in the condensed consolidated statements of operations for the three months ended March 31, 2024, and 2023. ​ As of March 31, 2024, there was no unrecognized stock compensation expense related to unvested stock options. ​ 2021 Stock Incentive Plan—Restricted Stock Units The following table summarizes the activity for all RSUs outstanding as of March 31, 2024 and 2023 under the 2021 Plan: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ Weighted Average ​ Weighted Average ​ ​ ​ ​ Grant Date ​ ​ ​ Grant Date ​ ​ ​ ​ Fair Value ​ ​ ​ Fair Value ​ ​ Shares ​ Per Share ​ Shares ​ Per Share Nonvested RSUs at beginning of period ​ 89,206 ​ $ 1.56 684 ​ $ 133.20 Granted ​ 54,000 ​ 2.34 — ​ — Vested ​ (29,775) ​ 4.95 — ​ — Cancelled and forfeited ​ — ​ — (667) ​ 126.60 Nonvested RSUs at March 31 ​ 113,431 ​ $ 1.76 17 ​ $ 126.60 ​ Total stock compensation expense recognized from stock-based compensation awards classified as restricted stock units were recognized in the condensed consolidated statements of operations for the three months ended March 31, 2024 and 2023, as follows: ​ ​ ​ ​ ​ ​ ​ ​ March 31, (In thousands) 2024 2023 Research and development $ 11 ​ $ 8 General and administrative 33 ​ 13 Total $ 44 ​ $ 21 ​ The vested outstanding restricted stock units that have not been released to grantees as of March 31, 2024, were included in calculation of weighted average common shares outstanding, basic and diluted (See Note 3, Net Loss Per Common Share). The Company plans to release these shares to the grantees in the near future. Since there is a possibility that any portion of those shares could be sold as part of the release, the shares will be released in compliance with the Company’s insider trading policy when there is an open trading window and grantees are not in possession of any material non-public information. As of March 31, 2024, there was $344,700 unrecognized stock compensation expense related to unvested restricted stock units. ​ 2021 Stock Incentive Plan — Stock Options The following table summarizes the activity for all stock options outstanding at March 31, 2024 under the 2021 Plan: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ Weighted ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ Average ​ ​ ​ ​ Exercise ​ ​ ​ Exercise ​ ​ Shares ​ Price ​ Shares ​ Price Options outstanding at beginning of period 12,240 ​ $ 12.90 21,420 ​ $ 12.90 Granted — ​ — — ​ — Exercised — ​ — — ​ — Cancelled and forfeited — ​ — (9,180) ​ — Balance at December 31 12,240 ​ $ 12.90 12,240 ​ $ 12.90 Options exercisable at March 31: 12,240 ​ $ 12.90 12,240 ​ $ 12.90 ​ In addition, the stock options had weighted average remaining contractual life of 3.68 years. There was no stock compensation expense during the three months ended March 31, 2024 or March 31, 2023.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2024
INCOME TAXES
INCOME TAXES	12. The Company’s effective tax rate from continuing operations was 0% for the three months ended March 31 March 31 The provision for income taxes during the interim reporting periods is calculated by applying an estimate of the annual effective tax rate for the full fiscal year to “ordinary” income or loss for the reporting period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is a potential for volatility of the effective tax rate due to several factors, including changes in the mix of the pre-tax income and the jurisdictions to which it relates, changes in tax laws, business reorganizations and settlements with taxing authorities. The income tax rates vary from the US federal statutory rate of 21% primarily due to the full valuation allowance on the Company’s deferred tax assets. The Company has recorded the full valuation allowance based on an evaluation of both positive and negative evidence, including latest forecasts and cumulative losses in recent years. The Company has concluded that it was more likely than not that none of its deferred tax assets would be realized.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	13. Issuance of Senior Secured Convertible Promissory Note ​ On April 2, 2024, the Company issued a 25% Senior Secured Convertible Promissory Note (the “April 2 Note”) to the investor. The Note has a principal amount of $2,000,000, bears interest at a rate of 25% per annum (the “Stated Rate”) and matures on April 2, 2025 (the “April 2 Maturity Date”), on which the principal balance and accrued but unpaid interest under the Note shall be due and payable. The Stated Rate will increase to 27% per annum or the highest rate then allowed under applicable law (whichever is lower) upon occurrence of an event of default, including the failure by the Company to make payment of principal or interest due under the Note on the Maturity Date, and any commencement by the Company of a case under any applicable bankruptcy or insolvency laws. ​ On May 1, 2024, the Company issued a 25% Senior Secured Convertible Promissory Note (the “May 2 Note”) to the Investor. The Note has a principal amount of $2,000,000, bears interest at a rate of 25% per annum (the “Stated Rate”) and matures on May 1, 2025, on which the principal balance and accrued but unpaid interest under the Note shall be due and payable. The Stated Rate will increase to 27% per annum or the highest rate then allowed under applicable law (whichever is lower) upon occurrence of an event of default, including the failure by the Company to make payment of principal or interest due under the Note on the Maturity Date, and any commencement by the Company of a case under any applicable bankruptcy or insolvency laws. ​ The April 2 Note and May 2 Note are convertible into shares of the Company’s common stock, par value $0.001 per share, at an initial conversion price of $2.50 per share, subject to a beneficial ownership limitation equivalent to 9.99% which will increase to 19.99% on May 14, 2024.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information (Accounting Standards Codification ("ASC") 270, Interim Reporting) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information necessary for a full presentation of financial position, results of operations, and cash flows in conformity with GAAP. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. In the opinion of management, the condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the results of the Company for the periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Form 10-K for the year ended December 31, 2023. The results of operations for the period ended March 31, 2024, are not necessarily indicative of the operating results that may be expected for a full year. The consolidated balance sheet as of December 31, 2023, contains financial information taken from the audited Company consolidated financial statements as of that date. All intercompany balances were eliminated upon consolidation.
Use of Estimates	Use of Estimates
Concentrations of Credit Risk and Other Uncertainties	Concentrations of Credit Risk and Other Uncertainties The Company is subject to certain risks and uncertainties from changes in any of the following areas that the Company believes could have a material adverse effect on future financial position or results of operations: the ability to obtain regulatory approval and market acceptance of, and reimbursement for, the Company’s product candidates; the performance of third-party clinical research organizations and manufacturers; protection of the intellectual property; litigation or claims against the Company based on intellectual property, patent, product, regulatory or other factors; the Company’s ability to attract and retain employees necessary to support commercial success; and changes in the industry or customer requirements including the emergence of competitive products with new capabilities.
Property and Equipment	Property and Equipment
Internal Use Software Development Costs	Internal Use Software Development Costs
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets
Comprehensive Loss	Comprehensive Loss
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which such temporary differences are expected to be recovered or settled. The Company records valuation allowances to reduce deferred income tax assets to the amount that is more likely than not to be realized. The Company records uncertain tax positions in accordance with Accounting Standard Codification (“ASC 740”), Income Taxes
Research and Development Expense	Research and Development Expense regulatory filings, equipment and supplies used in developing products prior to market approval and an allocation of certain overhead costs such as facility and related expenses. The Company accrues and expenses costs of services provided by contract research organizations in connection with preclinical studies and contract manufacturing organizations engaged to manufacture clinical trial material, costs of licensing technology, and costs of services provided by research organizations and service providers. Upfront payments and milestone payments made for the licensing of technology are expensed as research and development in the period in which they are incurred if the technology is not expected to have any alternative future uses other than the specific research and development project for which it was intended. Nonrefundable advance payments for goods or services to be received in the future for use in research and development activities are recorded as prepaid expenses. The prepaid amounts are expensed as the related goods are delivered or the services are performed rather than when the payment is made.
Nonvested Stock Options and Restricted Stock Units	Nonvested Stock Options and Restricted Stock Units — ’ “ ” “ ” “ ” “ ” The vesting conditions for stock options, RSUs and RSAs include annual and monthly vesting. Annual vesting conditions are for 10-year The vesting conditions for RSUs include cliff vesting conditions. Certain RSUs vest with a range of
Stock-Based Compensation	Stock-Based Compensation Compensation—Stock Compensation The Company estimates the grant date fair value of stock options using the Black-Scholes model and the assumptions used to value such stock options are determined as follows: Expected Term. Risk-Free Interest Rate. Volatility. Dividend Yield. Common Stock Valuations . The closing price listed on the OTCQB Capital Market or previously the NASDAQ Capital Market for the Company’s common stock on the date of the grant is used as the common stock valuation.
Segment Data	Segment Data
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Accounting Standards Not Yet Adopted Segments . ​ Income Taxes .

NET LOSS PER COMMON STOCK SHA_2

NET LOSS PER COMMON STOCK SHARE (Tables)	3 Months Ended
	Mar. 31, 2024
NET LOSS PER COMMON STOCK SHARE
Schedule of earnings per share, basic and diluted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, (In thousands) 2024 2023 Net loss ​ $ (6,148) ​ $ (5,300) Less: Initial Public Offering Common Stock discount amortization ​ ​ (25) ​ ​ (25) Less: Public Offering Common Stock discount amortization ​ ​ (61) ​ ​ (60) Less: Undeclared dividends attributable to preferred stock ​ ​ (889) ​ ​ — Net loss attributable to common shareholders ​ $ (7,123) ​ $ (5,385) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Three Months Ended ​ March 31, 2024 ​ March 31, 2023 (In thousands, except share and per share amounts) ​ Common Stock Preferred Stock Common Stock Preferred Stock Net loss per share, basic and diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocation of undistributed net loss ​ $ (1,302) ​ $ (5,821) ​ $ (5,385) ​ $ — Weighted average shares outstanding, basic and diluted ​ ​ 1,304,548 ​ ​ 14,352 ​ ​ 872,818 ​ ​ — Basic and diluted net loss per share ​ $ (1.00) ​ $ (405.61) ​ $ (6.17) ​ $ —

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2024
PROPERTY AND EQUIPMENT, NET
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ (In thousands) March 31, 2024 December 31, 2023 Equipment $ 3,135 ​ $ 3,126 Leasehold improvements 7,372 ​ 7,372 Office furniture, fixtures, and equipment 137 ​ 137 Software 360 ​ 360 Construction in progress 124 ​ 101 ​ 11,128 ​ 11,097 Less: Accumulated depreciation (5,478) ​ (4,921) Total $ 5,650 ​ $ 6,175

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2024
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Schedule of accrued expenses and other current liabilities	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) March 31, 2024 December 31, 2023 Accrued litigation ​ $ — ​ $ 448 Accrued compensation ​ ​ 946 ​ 865 Accrued consulting and outside services ​ 305 ​ 361 Total ​ $ 1,251 ​ $ 1,673 ​

SENIOR SECURED CONVERTIBLE PR_2

SENIOR SECURED CONVERTIBLE PROMISSORY NOTE (Tables)	3 Months Ended
	Mar. 31, 2024
SENIOR SECURED CONVERTIBLE PROMISSORY NOTE
Schedule of convertible debt	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) March 31, 2024 December 31, 2023 Senior secured convertible promissory note, maturing June 26, 2024 ​ ​ 2,400 ​ 2,400 Senior secured convertible promissory note, maturing July 25, 2024 ​ 2,400 ​ 2,400 Senior secured convertible promissory note, maturing August 25, 2024 ​ ​ 2,400 ​ 2,400 Senior secured convertible promissory note, maturing September 27, 2024 ​ ​ 2,400 ​ ​ 2,400 Senior secured convertible promissory note, maturing November 2, 2024 ​ ​ 2,400 ​ ​ 2,400 Senior secured convertible promissory note, maturing December 12, 2024 ​ ​ — ​ ​ 2,000 Total senior secured convertible promissory notes ​ $ 12,000 ​ $ 14,000 ​

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2024
Leases
Schedule of lessee's operating lease right-of-use assets and lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) March 31, 2024 ​ ​ December 31, 2023 ​ ​ Operating lease ​ ​ Operating lease Right-of-Use Asset ​ ​ ​ ​ ​ ​ Operating lease, net ​ $ 1,389 ​ $ 1,543 Total right-of use asset, net ​ $ 1,389 ​ $ 1,543 ​ ​ ​ ​ ​ ​ ​ Lease Liabilities ​ ​ ​ ​ ​ ​ Operating lease - short term ​ $ (642) ​ $ (631) Operating lease - long term ​ ​ (747) ​ ​ (912) Total lease liabilities ​ $ (1,389) ​ $ (1,543)
Schedule of components of lease expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended (In thousands) ​ ​ March 31, 2024 ​ ​ March 31, 2023 ​ Operating lease cost allocated to research and development expense ​ $ 113 ​ $ 90 ​ Operating lease cost allocated to general and administrative expense ​ ​ 66 ​ ​ 90 ​ Total lease expense ​ $ 179 ​ $ 180 ​ Weighted-average remaining lease term ​ ​ 2.09 ​ ​ 3.09 ​ Weighted-average discount rate ​ ​ 7.12 % ​ 7.12 %
Schedule of maturities of operating lease liabilities	​ ​ ​ ​ ​ Maturity of Lease Liabilities ​ ​ Operating lease 2024 (remaining) ​ $ 538 2025 ​ ​ 725 2026 ​ ​ 243 Total lease payments ​ ​ 1,506 Less: imputed interest ​ ​ (117) Present value of lease payments ​ $ 1,389 ​

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2024
Stock Incentive Plan 2017 | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of restricted stock unit activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ Weighted Average ​ Weighted Average ​ ​ ​ ​ Grant Date ​ ​ ​ Grant Date ​ ​ ​ ​ Fair Value ​ ​ ​ Fair Value ​ ​ Shares ​ Per Share ​ Shares ​ Per Share Nonvested RSUs at beginning of period 605 ​ $ 285.36 650 ​ $ 259.50 Granted — ​ — — ​ — Vested — ​ 255.85 (35) ​ 252.60 Cancelled and forfeited (30) ​ 260.10 — ​ — Nonvested RSUs at March 31 575 ​ $ 285.36 615 ​ $ 258.88
Schedule of stock-based compensation	​ ​ ​ ​ ​ ​ ​ ​ March 31, (In thousands) 2024 2023 Research and development $ 5 ​ $ — General and administrative 8 ​ — Total $ 13 ​ $ —
Stock Incentive Plan 2017 | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ Weighted ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ Average ​ ​ ​ ​ Exercise ​ ​ ​ Exercise ​ ​ Shares ​ Price ​ Shares ​ Price Options outstanding at beginning of period 5,853 ​ $ 285.36 11,286 ​ $ 254.40 Granted — ​ — — ​ — Exercised — ​ — — ​ — Cancelled and forfeited — ​ — (5,185) ​ 215.35 Balance at March 31 5,853 ​ $ 285.36 6,101 ​ $ 287.58 Options exercisable at March 31: 5,853 ​ $ 285.36 6,083 ​ $ 286.20
Stock Incentive Plan 2021 | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of restricted stock unit activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ Weighted Average ​ Weighted Average ​ ​ ​ ​ Grant Date ​ ​ ​ Grant Date ​ ​ ​ ​ Fair Value ​ ​ ​ Fair Value ​ ​ Shares ​ Per Share ​ Shares ​ Per Share Nonvested RSUs at beginning of period ​ 89,206 ​ $ 1.56 684 ​ $ 133.20 Granted ​ 54,000 ​ 2.34 — ​ — Vested ​ (29,775) ​ 4.95 — ​ — Cancelled and forfeited ​ — ​ — (667) ​ 126.60 Nonvested RSUs at March 31 ​ 113,431 ​ $ 1.76 17 ​ $ 126.60
Schedule of stock-based compensation	​ ​ ​ ​ ​ ​ ​ ​ March 31, (In thousands) 2024 2023 Research and development $ 11 ​ $ 8 General and administrative 33 ​ 13 Total $ 44 ​ $ 21
Stock Incentive Plan 2021 | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ Weighted ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ Average ​ ​ ​ ​ Exercise ​ ​ ​ Exercise ​ ​ Shares ​ Price ​ Shares ​ Price Options outstanding at beginning of period 12,240 ​ $ 12.90 21,420 ​ $ 12.90 Granted — ​ — — ​ — Exercised — ​ — — ​ — Cancelled and forfeited — ​ — (9,180) ​ — Balance at December 31 12,240 ​ $ 12.90 12,240 ​ $ 12.90 Options exercisable at March 31: 12,240 ​ $ 12.90 12,240 ​ $ 12.90

ORGANIZATION (Details)

ORGANIZATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
ORGANIZATION
Cash flow from operations	$ (5,699)	$ (4,128)
Accumulated deficit	$ (129,045)		$ (122,897)

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property and Equipment
Capitalized software development costs	$ 23,000	$ 0
Impairment of long-lived assets held-for-use	0
Unrecognized tax benefits, interest or penalties	$ 0	$ 0
Minimum
Property and Equipment
Property plant and equipment useful life	1 year
Maximum
Property and Equipment
Property plant and equipment useful life	8 years
Software development costs
Property and Equipment
Property plant and equipment useful life	5 years

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Nonvested Stock Options and Warrants (Details)	3 Months Ended
	Mar. 31, 2024 segment
Nonvested Stock Options
Expected dividend yield	0%
Number of reportable segment	1
Restricted Stock Units
Nonvested Stock Options
Period, after vesting, during which shares are released to grantee	60 days
Stock Options
Nonvested Stock Options
Expiration period	10 years
Minimum | Restricted Stock Units
Nonvested Stock Options
Vesting period	6 months
Maximum | Restricted Stock Units
Nonvested Stock Options
Vesting period	12 months
Annual Vesting Conditions
Nonvested Stock Options
Vesting period	4 years
Monthly Vesting Conditions | Minimum
Nonvested Stock Options
Vesting period	10 months
Monthly Vesting Conditions | Maximum
Nonvested Stock Options
Vesting period	48 months

NET LOSS PER COMMON STOCK SHA_3

NET LOSS PER COMMON STOCK SHARE - Computation of basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net loss per common share
Net loss	$ (6,148)	$ (5,300)
Less: Initial Public Offering Common Stock discount amortization	(25)	(25)
Less: Public offering Common Stock discount amortization	(61)	(60)
Less: Undeclared dividends attributable to preferred stock	(889)
Net loss attributable to common shareholders, basic	(7,123)	(5,385)
Net loss attributable to common shareholders, diluted	$ (7,123)	$ (5,385)
Weighted average common shares outstanding, basic	1,304,548	872,818
Weighted average preferred shares outstanding, basic	14,352
Weighted average common shares outstanding, diluted	1,304,548	872,818
Weighted average preferred shares outstanding, diluted	14,352
Net loss per common share, basic	$ (1)	$ (6.17)
Net loss per preferred share, basic	(405.61)
Net loss per common share, diluted	(1)	$ (6.17)
Net loss per preferred share, diluted	$ (405.61)
Preferred Stock
Net loss per common share
Net loss attributable to common shareholders, basic	$ (5,821)
Net loss attributable to common shareholders, diluted	$ (5,821)
Weighted average preferred shares outstanding, basic	14,352
Weighted average preferred shares outstanding, diluted	14,352
Net loss per preferred share, basic	$ (405.61)
Net loss per preferred share, diluted	$ (405.61)
Common Stock
Net loss per common share
Net loss attributable to common shareholders, basic	$ (1,302)	$ (5,385)
Net loss attributable to common shareholders, diluted	$ (1,302)	$ (5,385)
Weighted average common shares outstanding, basic	1,304,548	872,818
Weighted average common shares outstanding, diluted	1,304,548	872,818
Net loss per common share, basic	$ (1)	$ (6.17)
Net loss per common share, diluted	$ (1)	$ (6.17)

NET LOSS PER COMMON STOCK SHA_4

NET LOSS PER COMMON STOCK SHARE - Dilutive Securities Excluded From the Computations of Earnings Per Share (Details)	3 Months Ended
	Mar. 31, 2024 shares
Restricted Stock Units
Dilutive Securities Excluded From the Computations of Earnings Per Share
Potentially dilutive securities	114,009
Warrants
Dilutive Securities Excluded From the Computations of Earnings Per Share
Potentially dilutive securities	15,416

NET LOSS PER COMMON STOCK SHA_5

NET LOSS PER COMMON STOCK SHARE - Series D Stock (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 28, 2024	Dec. 31, 2023	Jul. 31, 2023	Jul. 18, 2023	Apr. 30, 2023	Apr. 02, 2023
Debt conversion
Preferred stock, issued	22,000			14,000
25% Senior Secured Convertible Promissory Notes
Debt conversion
Aggregate principal amount of convertible debt exchanged	$ 8,000,000		$ 8,000,000		$ 6,000,000	$ 6,000,000	$ 8,000,000	$ 8,000,000
Series D Preferred Stock
Debt conversion
Annual dividend rate	25%
Preferred stock, issued	8,000		8,000
Preferred dividends	$ 889,000	$ 0
Series D Preferred Stock | 25% Senior Secured Convertible Promissory Notes
Debt conversion
Preferred stock, issued			8,000

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
PROPERTY AND EQUIPMENT
Property, plant and equipment, gross	$ 11,128		$ 11,097
Less: Accumulated depreciation	(5,478)		(4,921)
Total	5,650		6,175
Depreciation	557	$ 556
Equipment
PROPERTY AND EQUIPMENT
Property, plant and equipment, gross	3,135		3,126
Leasehold improvements
PROPERTY AND EQUIPMENT
Property, plant and equipment, gross	7,372		7,372
Office furniture, fixtures, and equipment
PROPERTY AND EQUIPMENT
Property, plant and equipment, gross	137		137
Software
PROPERTY AND EQUIPMENT
Property, plant and equipment, gross	360		360
Construction in progress
PROPERTY AND EQUIPMENT
Property, plant and equipment, gross	$ 124		$ 101

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Accrued litigation		$ 448
Accrued compensation	$ 946	865
Accrued consulting and outside services	305	361
Total	$ 1,251	$ 1,673

NOTE PAYABLE (Details)

NOTE PAYABLE (Details) - USD ($)	1 Months Ended
	Jan. 31, 2024	Mar. 31, 2024
Note payable
Note payable		$ 192,000
Director and Officer Insurance Policy Financing
Note payable
Note payable	$ 400,000	$ 192,000
Interest rate	4.93%
Note term	11 months

SENIOR SECURED CONVERTIBLE PR_3

SENIOR SECURED CONVERTIBLE PROMISSORY NOTE (Details)	3 Months Ended	27 Months Ended
	Mar. 31, 2024 USD ($) item $ / shares	Mar. 31, 2024 USD ($) item $ / shares	Mar. 28, 2024 USD ($)	Jul. 31, 2023 USD ($)	Jul. 18, 2023 USD ($)	Apr. 30, 2023 USD ($)	Apr. 02, 2023 USD ($)
Debt Instrument
Number of promissory notes issued | item		13
Aggregate principal of debt instruments issued		$ 34,000,000
Principal amount	$ 6,000,000	$ 6,000,000
Number of promissory notes outstanding | item	5
25% Senior Secured Convertible Promissory Notes
Debt Instrument
Interest rate (as a percent)	25%	25%	25%		25%		25%
Note term		1 year
Interest rate increase to per annum	27%
Aggregate principal amount of convertible debt exchanged	$ 8,000,000	$ 8,000,000	$ 8,000,000	$ 6,000,000	$ 6,000,000	$ 8,000,000	$ 8,000,000
25% Senior secured convertible promissory note with $6.50 conversion price
Debt Instrument
Principal amount	$ 2,400,000	$ 2,400,000
Number of promissory notes outstanding | item	2
Conversion price | $ / shares	$ 6.50	$ 6.50
25% Senior secured convertible promissory note with $5.00 conversion price
Debt Instrument
Principal amount	$ 2,400,000	$ 2,400,000
Number of promissory notes outstanding | item	2
Conversion price | $ / shares	$ 5	$ 5
Senior Secured Convertible Promissory Notes, 25 Percent, 2.50 Conversion Price, Note 1
Debt Instrument
Principal amount	$ 2,400,000	$ 2,400,000
Number of promissory notes outstanding | item	1
Conversion price | $ / shares	$ 2.50	$ 2.50

SENIOR SECURED CONVERTIBLE PR_4

SENIOR SECURED CONVERTIBLE PROMISSORY NOTE - Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument
Senior secured convertible promissory notes	$ 12,000	$ 14,000
Senior Secured Convertible Promissory Note, maturing June 26, 2024
Debt Instrument
Senior secured convertible promissory notes	2,400	2,400
Senior Secured Convertible Promissory Note, maturing July 25, 2024
Debt Instrument
Senior secured convertible promissory notes	2,400	2,400
Senior Secured Convertible Promissory Note, maturing August 25, 2024
Debt Instrument
Senior secured convertible promissory notes	2,400	2,400
Senior Secured Convertible Promissory Note, maturing September 27, 2024
Debt Instrument
Senior secured convertible promissory notes	2,400	2,400
Senior Secured Convertible Promissory Note Maturing November 2, 2024
Debt Instrument
Senior secured convertible promissory notes	$ 2,400	2,400
Senior Secured Convertible Promissory Note Maturing December 12, 2024
Debt Instrument
Senior secured convertible promissory notes		$ 2,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Legal proceedings (Details) - USD ($)	Jan. 31, 2024	Sep. 29, 2023	Aug. 07, 2023	Mar. 22, 2021	Dec. 31, 2023
Legal proceedings
Accrued litigation liability					$ 448,000
Jason Terrell - 2014 Consulting Agreement
Legal proceedings
Number of stock options sought				16,667
Stock option exercise price				$ 15
Litigation agreement briefing schedule period for answering	30 days
Jason Terrell - 2017 Non-employee Director Options Agreement
Legal proceedings
Number of stock options sought				16,667
Stock option exercise price				$ 5.10
Class Action | Settled Litigation
Legal proceedings
Portion of litigation settlement to be reimbursed by insurance carrier		$ 570,000
Litigation settlement loss, net		$ 1,730,000
Accrued litigation liability					$ 448,000
Class Action | Settled Litigation | Maximum
Legal proceedings
Gross litigation settlement			$ 2,300,000

LEASES - Lease information (Det

LEASES - Lease information (Details)	3 Months Ended
	Mar. 31, 2024 ft²
Leases
Total Rentable Space	149,000

LEASES - Balance sheet disclosu

LEASES - Balance sheet disclosures (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases
Operating lease right-of-use asset, net	$ 1,389	$ 1,543
Operating lease liability - short term	(642)	(631)
Operating lease liability - long term	(747)	(912)
Total lease liabilities	$ (1,389)	$ (1,543)

LEASES - Components of lease ex

LEASES - Components of lease expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating leases
Operating lease cost	$ 179	$ 180
Weighted-average remaining lease term	2 years 1 month 2 days	3 years 1 month 2 days
Weighted-average discount rate	7.12%	7.12%
Research and development
Operating leases
Operating lease cost	$ 113	$ 90
General and administrative
Operating leases
Operating lease cost	$ 66	$ 90

LEASES - Operating lease liabil

LEASES - Operating lease liability maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Operating leases
2024 (remaining)	$ 538
2025	725
2026	243
Total lease payments	1,506
Less: imputed interest	(117)
Present value of lease payments	$ 1,389	$ 1,543

STOCKHOLDERS' EQUITY - Stock (D

STOCKHOLDERS' EQUITY - Stock (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) Vote $ / shares shares	Mar. 28, 2024 agreement shares	Dec. 31, 2023 USD ($) $ / shares shares	Jul. 18, 2023 shares	Apr. 02, 2023 shares
Common stock
Preferred stock, authorized	60,000,000		60,000,000
Common stock, authorized	300,000,000		300,000,000
Common stock, issued	1,288,235		1,258,460
Common stock, outstanding	1,288,235		1,258,460
Preferred stock, issued	22,000		14,000
Number of exchange agreements entered into | agreement		3
Preferred stock, outstanding	22,000		14,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.001		$ 0.001
Liquidation preference, value | $	$ 25,095,000		$ 16,206,000
Preferred Stock
Common stock
Number of votes for each whole share of common stock into which preferred shares are convertible | Vote	1
Series A-1 Preferred Stock
Common stock
Preferred stock, authorized	24,000,000		24,000,000
Series B Preferred Stock
Common stock
Preferred stock, authorized	16,500,000		16,500,000
Series C Preferred Stock
Common stock
Preferred stock, authorized	14,000
Preferred stock, issued				6,000	8,000
Preferred stock, outstanding	14,000
Annual dividend rate	25%
Liquidation preference, value | $	$ 25,094,500		$ 25,094,500
Series D Preferred Stock
Common stock
Preferred stock, authorized	8,000
Preferred stock, issued	8,000	8,000
Preferred stock, outstanding	8,000
Annual dividend rate	25%
Liquidation preference, value | $	$ 16,205,500		$ 16,205,500
Common Stock
Common stock
Number of entitled votes per share | Vote	1

STOCKHOLDERS' EQUITY - Exchange

STOCKHOLDERS' EQUITY - Exchange Agreement (Details)	Mar. 28, 2024 USD ($) item shares	Jul. 18, 2023 USD ($) item shares	Apr. 02, 2023 USD ($) item shares	Mar. 31, 2024 USD ($) shares	Dec. 31, 2023 shares	Jul. 31, 2023 USD ($)	Apr. 30, 2023 USD ($)
Note Purchase Agreement
Preferred stock, issued				22,000	14,000
Series C Preferred Stock
Note Purchase Agreement
Preferred stock, issued		6,000	8,000
Series D Preferred Stock
Note Purchase Agreement
Preferred stock, issued	8,000			8,000
25% Senior Secured Convertible Promissory Notes
Note Purchase Agreement
Aggregate principal amount of convertible debt exchanged | $	$ 8,000,000	$ 6,000,000	$ 8,000,000	$ 8,000,000		$ 6,000,000	$ 8,000,000
Interest rate (as a percent)	25%	25%	25%	25%
Number of promissory notes exchanged | item	4	3	4
Principal amount of the individual debt instruments exchanged. | $	$ 2,000,000	$ 2,000,000	$ 2,000,000
25% Senior Secured Convertible Promissory Notes | Series C Preferred Stock
Note Purchase Agreement
Preferred stock, issued		6,000	8,000
25% Senior Secured Convertible Promissory Notes | Series D Preferred Stock
Note Purchase Agreement
Preferred stock, issued	8,000

STOCKHOLDERS' EQUITY - Warrants

STOCKHOLDERS' EQUITY - Warrants (Details)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Weighted average valuation assumptions
Warrant expiration term	5 years
Warrants with expiration date of October 14, 2025
Warrants
Number of warrants granted | shares	2,083
Warrant exercise price | $ / shares	$ 450
Warrants with expiration of July 1, 2026
Warrants
Number of warrants granted | shares	13,333
Warrant exercise price | $ / shares	$ 187.50

STOCKHOLDERS' EQUITY - Standby

STOCKHOLDERS' EQUITY - Standby Equity Purchase Agreement Financing (Details) - USD ($)	Jun. 02, 2023	May 24, 2023	Oct. 13, 2022	Mar. 31, 2024	Dec. 31, 2023
Stockholder's equity (Deficit)
Common stock, par value (in dollars per share)				$ 0.001	$ 0.001
Standby Equity Purchase Agreement Financing
Stockholder's equity (Deficit)
Common stock, par value (in dollars per share)			$ 0.001
Term of anniversary			24 months
Shares issued	100,000	97,000
Stock purchase price	$ 2.82	$ 3.89
Proceeds from Issuance of Common Stock	$ 282,100	$ 377,000
Standby Equity Purchase Agreement Financing | Maximum
Stockholder's equity (Deficit)
Commitment amount			$ 8,000,000

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock Units (Details) - Restricted Stock Units - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock Incentive Plan 2017
Restricted stock units
Stock compensation expense	$ 13,000
Restricted stock unit activity
Nonvested RSUs at beginning of period	605	650
Vested		(35)
Cancelled and forfeited	(30)
Nonvested RSUs at March 31	575	615
Weighted average grant day fair value per share
Nonvested RSUs at beginning of period	$ 285.36	$ 259.50
Vested	255.85	252.60
Cancelled and forfeited	260.10
Nonvested RSUs at March 31	$ 285.36	$ 258.88
Stock Incentive Plan 2017 | Research and development
Restricted stock units
Stock compensation expense	$ 5,000
Stock Incentive Plan 2017 | General and administrative
Restricted stock units
Stock compensation expense	8,000
Stock Incentive Plan 2021
Restricted stock units
Stock compensation expense	44,000	$ 21,000
Unrecognized stock compensation expenses	$ 344,700
Restricted stock unit activity
Nonvested RSUs at beginning of period	89,206	684
Granted	54,000
Vested	(29,775)
Cancelled and forfeited		(667)
Nonvested RSUs at March 31	113,431	17
Weighted average grant day fair value per share
Nonvested RSUs at beginning of period	$ 1.56	$ 133.20
Granted	2.34
Vested	4.95
Cancelled and forfeited		126.60
Nonvested RSUs at March 31	$ 1.76	$ 126.60
Stock Incentive Plan 2021 | Research and development
Restricted stock units
Stock compensation expense	$ 11,000	$ 8,000
Stock Incentive Plan 2021 | General and administrative
Restricted stock units
Stock compensation expense	$ 33,000	$ 13,000

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock Options (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Stock Incentive Plan 2017
Stock option activity
Options outstanding at beginning of period	5,853	11,286	11,286
Cancelled and forfeited		(5,185)
Balance at March 31	5,853	6,101	5,853
Options exercisable at March 31:	5,853	6,083
Intrinsic value of options exercisable	$ 0		$ 0
Weighted average exercise price
Options outstanding at beginning of period	$ 285.36	$ 254.40	$ 254.40
Cancelled and forfeited		215.35
Balance at March 31	285.36	287.58	$ 285.36
Options exercisable at March 31:	$ 285.36	$ 286.20
Additional stock option information
Stock compensation expense	$ 0	$ 0
Total unrecognized stock compensation expense	$ 0
Weighted-average remaining contractual life	3 years 8 months 4 days		3 years 11 months 4 days
Stock Incentive Plan 2021
Stock option activity
Options outstanding at beginning of period	12,240	21,420	21,420
Cancelled and forfeited		(9,180)
Balance at March 31	12,240	12,240	12,240
Options exercisable at March 31:	12,240	12,240
Weighted average exercise price
Options outstanding at beginning of period	$ 12.90	$ 12.90	$ 12.90
Balance at March 31	12.90	12.90	$ 12.90
Options exercisable at March 31:	$ 12.90	$ 12.90
Additional stock option information
Stock compensation expense	$ 0	$ 0
Weighted-average remaining contractual life	3 years 8 months 4 days

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
INCOME TAXES
Effective tax rate from continuing operations	0%	0%
Income tax provision	$ 0
Federal statutory rate	21%	21%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	May 14, 2024	May 01, 2024	Apr. 02, 2024	Mar. 31, 2024	Dec. 31, 2023
Subsequent events
Principal amount				$ 6,000,000
Common stock, par value (in dollars per share)				$ 0.001	$ 0.001
Subsequent Event | Senior Secured Convertible Promissory Notes, maturing April 2, 2025 and May 1, 2025
Subsequent events
Common stock, par value (in dollars per share)		$ 0.001	$ 0.001
Conversion price		$ 2.50	$ 2.50
Maximum beneficial ownership percentage	19.99%	9.99%	9.99%
Subsequent Event | Senior Secured Convertible Promissory Note, maturing April 2, 2025
Subsequent events
Principal amount			$ 2,000,000
Interest rate (as a percent)			25%
Increased interest rate in event of default			27%
Subsequent Event | Senior Secured Convertible Promissory Note, maturing May 1, 2025
Subsequent events
Principal amount		$ 2,000,000
Interest rate (as a percent)		25%
Increased interest rate in event of default		27%