Renovacor (RCOR) 10-Q 10 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 10, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	Renovacor, Inc.
Entity Central Index Key	0001799850
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		17,269,415
Entity Shell Company	false
Entity File Number	001-39271
Entity Tax Identification Number	83-3169838
Entity Address, Address Line One	201 Broadway
Entity Address, Address Line Two	Suite 310
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Incorporation, State or Country Code	DE
Entity Address, Postal Zip Code	02139
City Area Code	610
Local Phone Number	424-2650
Common Stock [Member]
Document Information [Line Items]
Trading Symbol	RCOR
Security Exchange Name	NYSEAMER
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Warrants [Member]
Document Information [Line Items]
Trading Symbol	RCOR.WS
Security Exchange Name	NYSEAMER
Title of 12(b) Security	Warrants to purchase common stock at an exercise price of $11.50 per share

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 53,713	$ 78,790	[1]
Prepaid expenses and other current assets	1,941	1,763	[1]
Total current assets	55,654	80,553	[1]
Property and equipment, net	1,441	379	[1]
Operating lease right-of-use assets	484
Other assets	163	67	[1]
Total assets	57,742	80,999	[1]
Current liabilities:
Accounts payable	3,228	1,536	[1]
Accrued expenses	3,945	2,498	[1]
Operating lease liability	241
Other current liability	1,019
Total current liabilities	8,433	4,034	[1]
Warrant liability	1,369	11,165	[1]
Share earnout liability (includes 500,000 shares of Common stock, $0.0001 par value per share, subject to forfeiture, issued and outstanding at September 30, 2022 and December 31, 2021 -- Note 3)	4,967	12,256	[1]
Operating lease liability, net of current portion	265
Total liabilities	15,034	27,455	[1]
Commitments and contingencies (Note 8)
Stockholders equity:
Preferred stock, $0.0001 par value per share; 1,000,000 shares authorized; none issued or outstanding at September 30, 2022 and December 31, 2021
Common stock, $0.0001 par value per share; 100,000,000 shares authorized; 16,769,415 and 16,756,042 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	2	2	[1]
Additional paid-in capital	74,361	72,540	[1]
Accumulated deficit	(31,655)	(18,998)	[1]
Total stockholders’ equity	42,708	53,544	[1]
Total liabilities and stockholders’ equity	$ 57,742	$ 80,999	[1]
[1] The condensed balance sheet at December 31, 2021 has been derived from the audited financial statements at that date.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	16,769,415	16,756,042
Common stock, shares outstanding	16,769,415	16,756,042
Shares Earnout [Member]
Common stock, earnout shares issuable	500,000	500,000
Common stock, par value	$ 0.0001	$ 0.0001

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating expenses:
Research and development	$ 7,423	$ 2,925	$ 19,642	$ 7,413
General and administrative	4,682	2,315	10,445	3,227
Loss from operations	(12,105)	(5,240)	(30,087)	(10,640)
Other income (expense):
Interest income	298		347
Interest expense	(4)	(147)	(4)	(147)
Change in fair value of derivative liability		80		80
Change in fair value of warrant liability	(389)	(1,435)	9,796	(1,435)
Change in fair value of share earnout liability	(3,029)	(1,427)	7,289	(1,427)
Other income (expense), net	2		2
Net loss	$ (15,227)	$ (8,169)	$ (12,657)	$ (13,569)
Net loss per share
Basic	$ (0.87)	$ (0.83)	$ (0.72)	$ (1.82)
Diluted	$ (0.87)	$ (0.83)	$ (0.72)	$ (1.82)
Weighted-average number of common shares used in computing net loss per share
Basic	17,482,933	9,794,348	17,477,445	7,460,719
Diluted	17,482,933	9,794,348	17,477,445	7,460,719

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (8,169)	$ (12,657)	$ (13,569)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation		1,815	710
Gain on change in fair value of derivative liability	(80)		(80)
Gain on change in fair value of warrant liability	1,435	(9,796)	1,435
Gain on change in fair value of share earnout liability	1,427	(7,289)	1,427
Amortization of debt discount			136
Depreciation expense		55	1
Change in assets and liabilities:
Prepaid expenses and other current assets		841	(2,528)
Accounts payable		1,605	1,289
Accrued expenses		1,781	1,879
Other		(74)
Net cash used in operating activities		(23,719)	(9,300)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of property and equipment		(1,311)
Net cash used in investing activities		(1,311)
CASH FLOWS FROM FINANCING ACTIVITIES:
Merger-related costs		(53)
Proceeds from issuance of convertible promissory note, net of issuance costs			2,445
Effect of Merger, net of transaction costs			86,792
Proceeds from issuance of common stock upon exercise of stock options		6
Net cash provided by (used in) financing activities		(47)	89,237
Net decrease in cash and cash equivalents		(25,077)	79,937
Cash and cash equivalents at beginning of period		78,790	5,384
Cash and cash equivalents at end of period	$ 85,321	53,713	85,321
SUPPLEMENTAL DISCLOSURES OF NONCASH ACTIVITIES:
Deferred merger costs in accounts payable			304
Property and equipment in accounts payable and accrued expenses		166	20
Non-cash insurance premium financing		1,019
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFO:
Cash paid for amounts included in measurement of lease liabilities		118
Cash paid during the period for interest			$ 12
Right-of-use assets obtained in exchange for new operating lease obligations		$ 575

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Total		Previously Reported [Member]	Retroactive Application of Reverse Recapitalization [Member]	Convertible Preferred Stock [Member] Previously Reported [Member]	Convertible Preferred Stock [Member] Retroactive Application of Reverse Recapitalization [Member]	Common Stock	Common Stock Previously Reported [Member]	Common Stock Retroactive Application of Reverse Recapitalization [Member]	Additional Paid-in Capital	Additional Paid-in Capital Previously Reported [Member]	Additional Paid-in Capital Retroactive Application of Reverse Recapitalization [Member]	Accumulated Equity (Deficit)	Accumulated Equity (Deficit) Previously Reported [Member]
Balance at Dec. 31, 2020	$ 5,298		$ (4,776)	$ 10,074			$ 1		$ 1	$ 10,194	$ 121	$ 10,073	$ (4,897)	$ (4,897)
Balance (in Shares) at Dec. 31, 2020							6,274,566	1,953,368	4,321,198
Temporary equity, Balance at Dec. 31, 2020					$ 10,074	$ (10,074)
Temporary equity, Balance (in Shares) at Dec. 31, 2020					2,578,518	(2,578,518)
Issuance of restricted common stock, shares							30,495
Stock-based compensation	7									7
Net income (loss)	(1,681)												(1,681)
Balance at Mar. 31, 2021	3,624						$ 1			10,201			(6,578)
Balance (in Shares) at Mar. 31, 2021							6,305,061
Balance at Dec. 31, 2020	5,298		$ (4,776)	$ 10,074			$ 1		$ 1	10,194	$ 121	$ 10,073	(4,897)	$ (4,897)
Balance (in Shares) at Dec. 31, 2020							6,274,566	1,953,368	4,321,198
Temporary equity, Balance at Dec. 31, 2020					$ 10,074	$ (10,074)
Temporary equity, Balance (in Shares) at Dec. 31, 2020					2,578,518	(2,578,518)
Net income (loss)	(13,569)
Balance at Sep. 30, 2021	53,413						$ 2			71,877			(18,466)
Balance (in Shares) at Sep. 30, 2021							16,756,042
Balance at Mar. 31, 2021	3,624						$ 1			10,201			(6,578)
Balance (in Shares) at Mar. 31, 2021							6,305,061
Stock-based compensation	185									185
Net income (loss)	(3,719)												(3,719)
Balance at Jun. 30, 2021	90						$ 1			10,386			(10,297)
Balance (in Shares) at Jun. 30, 2021							6,305,061
Effect of Merger and recapitalization	31,270						$ 1			31,269
Effect of Merger and recapitalization, Shares							8,166,205
Common stock and pre-funded warrants issued pursuant to PIPE financing	29,704									29,704
Common stock and pre-funded warrants issued pursuant to PIPE financing, shares							2,284,776
Stock-based compensation	518									518
Net income (loss)	(8,169)												(8,169)
Balance at Sep. 30, 2021	53,413						$ 2			71,877			(18,466)
Balance (in Shares) at Sep. 30, 2021							16,756,042
Balance at Dec. 31, 2021	53,544	[1]					$ 2			72,540			(18,998)
Balance (in Shares) at Dec. 31, 2021							16,756,042
Stock-based compensation	601									601
Net income (loss)	6,594												6,594
Balance at Mar. 31, 2022	60,739						$ 2			73,141			(12,404)
Balance (in Shares) at Mar. 31, 2022							16,756,042
Balance at Dec. 31, 2021	53,544	[1]					$ 2			72,540			(18,998)
Balance (in Shares) at Dec. 31, 2021							16,756,042
Net income (loss)	(12,657)
Balance at Sep. 30, 2022	42,708						$ 2			74,361			(31,655)
Balance (in Shares) at Sep. 30, 2022							16,769,415
Balance at Mar. 31, 2022	60,739						$ 2			73,141			(12,404)
Balance (in Shares) at Mar. 31, 2022							16,756,042
Issuance of common stock upon exercise of stock options	5									5
Issuance of common stock upon exercise of stock options, shares							11,648
Stock-based compensation	632									632
Net income (loss)	(4,024)												(4,024)
Balance at Jun. 30, 2022	57,352						$ 2			73,778			(16,428)
Balance (in Shares) at Jun. 30, 2022							16,767,690
Issuance of common stock upon exercise of stock options	1									1
Issuance of common stock upon exercise of stock options, shares							1,725
Stock-based compensation	582									582
Net income (loss)	(15,227)												(15,227)
Balance at Sep. 30, 2022	$ 42,708						$ 2			$ 74,361			$ (31,655)
Balance (in Shares) at Sep. 30, 2022							16,769,415
[1] The condensed balance sheet at December 31, 2021 has been derived from the audited financial statements at that date.

Business and Organization

Business and Organization	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Organization	Note 1. Business and Organization Business Overview Renovacor, Inc. (the “Company,” or “Renovacor”) (f/k/a Chardan Healthcare Acquisition 2 Corp. ("Chardan")), a Delaware corporation, is a biotechnology company focused on delivering innovative precision therapies to improve the lives of patients and families battling genetically-driven cardiovascular and mechanistically-related diseases. The Company’s initial focus is on the treatment of BCL2-associated athanogene 3 ( BAG3) mutation - associated dilated cardiomyopathy ("DCM") ("BAG3 DCM"). BAG3 DCM is a heritable rare disease that leads to early onset, rapidly progressing heart failure and significant mortality and morbidity. The Company’s lead product candidate, REN-001, is a recombinant adeno-associated virus ("AAV") 9-based gene therapy designed to deliver a fully functional BAG3 gene to augment BAG3 protein levels in cardiomyocytes and slow or halt progression of BAG3 DCM. The Company has entered into and may explore future collaborative alliances to support research, development, and commercialization of any of its product candidates. The Company is subject to risks common to companies in the biopharmaceutical industry, including, but not limited to, risks related to the successful development and commercialization of product candidates, fluctuations in operating results and financial risks, the ability to successfully raise additional funds when needed, protection of proprietary rights and patent risks, patent litigation, compliance with government regulations, dependence on key personnel and prospective collaborative partners, and competition from competing products in the marketplace. Rocket Merger Agreement On September 19, 2022, the Company entered into an Agreement and Plan of Merger (the “Rocket Merger Agreement”) with Rocket Pharmaceuticals, Inc., a Delaware corporation (“Rocket”), Zebrafish Merger Sub, Inc., a Delaware corporation and a direct wholly owned subsidiary of Rocket (“Merger Sub I”), and Zebrafish Merger Sub II, LLC, a Delaware limited liability company and a direct wholly owned subsidiary of Rocket (“Merger Sub II,” and together with Merger Sub I, the “Merger Subs”) pursuant to which, among other matters, and subject to the satisfaction or waiver of the conditions set forth in the Rocket Merger Agreement, (i) Merger Sub I will merge with and into the Company (the “First Merger”) and (ii) the Company, as the surviving company of the First Merger, will merge with and into Merger Sub II (the “Second Merger” and together with the First Merger, the “Mergers”), with Merger Sub II as the surviving company in the Second Merger and as a wholly owned subsidiary of Rocket (the “Surviving Company”). Among other things and subject to the terms and conditions of the Rocket Merger Agreement, at the effective time of the First Merger (the “First Effective Time”), each share of the Company's common stock, par value $ 0.0001 per share (collectively, the “Renovacor Shares”), issued and outstanding immediately prior to the First Effective Time will be converted into the right to receive a number of shares of common stock of Rocket, par value $ 0.01 per share (collectively, the “Rocket Shares”), determined on the basis of an exchange formula set forth in the Rocket Merger Agreement (the “Rocket Exchange Ratio”). The Rocket Exchange Ratio will initially be equal to approximately 0.1676 Rocket Shares for each Renovacor Share (subject to adjustment as described in this paragraph). Under certain circumstances further described in the Rocket Merger Agreement, the Rocket Exchange Ratio may be adjusted upward or downward based on the level of Company's net cash at the closing of the First Merger and certain other adjustments, as determined in accordance with the Rocket Merger Agreement. There can be no assurances as to Company's level of net cash between now and the closing of the transactions contemplated by the Merger Agreement. Immediately following the completion of the mergers, former Renovacor stockholders are expected to own approximately 4.1 % of the of the outstanding shares of Rocket. Each of the board of directors of Rocket and the board of directors of Renovacor have approved the Rocket Merger Agreement and the transactions contemplated thereby. The transaction is subject to approval by the stockholders of both companies, as well as regulatory approvals and satisfaction of other customary closing conditions. Contemporaneously with the execution of the Rocket Merger Agreement, Renovacor and certain stockholders of Rocket, holding approximately 35 % of Rocket’s outstanding shares, and Rocket and certain stockholders of Renovacor, holding approximately 9.4 % of Renovacor’s outstanding shares, entered into a voting and support agreement and have agreed to vote in favor of the transaction. The special meetings of shareholders of both Rocket and Renovacor to approve the Rocket Merger Agreement and the transactions contemplated thereby is scheduled to be held on November 30, 2022. However, there is no assurance that Rocket and/or Renovacor shareholders will approve the proposals required to complete the Mergers successfully. The foregoing description of the Rocket Merger Agreement is not a complete description of all the parties’ rights and obligations under the Rocket Merger Agreement and is qualified in its entirety by reference to the Rocket Merger Agreement, which was filed as Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the SEC on September 20, 2022, and is filed herewith. SPAC Merger Agreement Prior to September 2, 2021, the Company was a special purpose acquisition company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business transaction with one or more businesses or entities. On September 2, 2021 (the "SPAC Merger Closing Date"), the Company consummated the business combination contemplated by that certain Agreement and Plan of Merger, dated March 22, 2021 (the “SPAC Merger Agreement”), by and among the Company, CHAQ2 Merger Sub, Inc., a wholly owned subsidiary of the Company (“SPAC Merger Sub”), and Renovacor Holdings, Inc. (f/k/a Renovacor, Inc. ("Old Renovacor")). Pursuant to the SPAC Merger Agreement, (i) SPAC Merger Sub merged with and into Old Renovacor, with Old Renovacor as the surviving company in the merger and, after giving effect to such merger, continuing as a wholly owned subsidiary of the Company (the “SPAC Merger”) and (ii) the Company’s name was changed from Chardan Healthcare Acquisition 2 Corp. to Renovacor, Inc. (the “SPAC Merger” and, together with the other transactions contemplated by the SPAC Merger Agreement, the “SPAC Business Combination”). Liquidity Considerations The Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year after the date the financial statements are issued. As of September 30, 2022, the Company had an accumulated deficit of $ 31.7 million and a cash and cash equivalents balance of $ 53.7 million . The Company has incurred losses and negative cash flows from operations since inception. The Company expects to continue to incur substantial operating losses and negative cash flows for the foreseeable future and will require additional capital as it continues to advance REN-001 and/or any future product candidates through development. The Company follows the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 205-40, Presentation of Financial Statements—Going Concern , which requires management to assess the Company’s ability to continue as a going concern within one year after the date the financial statements are issued. Management currently anticipates that the Company’s balance of cash and cash equivalents, as of September 30, 2022, is sufficient to enable the Company to continue as a going concern through the one-year period subsequent to the filing date of this Quarterly Report on Form 10-Q. Management’s operating plan, which underlies the analysis of the Company’s ability to continue as a going concern, involves the estimation of the amount and timing of future cash inflows and outflows. Actual results could vary from the operating plan. The Company has and, assuming the Mergers are not completed, will continue to evaluate available alternatives to extend its operations beyond this date, which include financing its operations through a combination of equity offerings, debt financings, collaborations, strategic alliances and licensing arrangements. However, the Company may be unable to raise additional funds or enter into such other agreements or arrangements when needed on favorable terms, or at all. If the Company fails to raise capital or enter into such agreements or arrangements as, and when, needed, it may have to significantly delay, scale back or discontinue the development and commercialization of one or more of its product candidates.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial reporting. Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for complete financial statements as certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These condensed consolidated statements are unaudited and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments and accruals) necessary to fairly present the results of the interim periods. The results of operations and cash flows for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ended December 31, 2022 or any other future period. As further described in Note 1, in September 2022, the Company entered into the Rocket Merger Agreement. However, as the Mergers have not yet been completed, the Company has prepared these financial statements as if the Company will remain an independent reporting company, and accordingly, these financial statements do not include any of the potential accounting impacts that may result from the completion of the Rocket Merger Agreement. Reverse Recapitalization The SPAC Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP (the “Reverse Recapitalization”). Under this method of accounting, the Company is treated as the “acquired” company and Old Renovacor is treated as the acquirer for financial reporting purposes. As a result, the consolidated assets, liabilities and results of operations prior to the SPAC Business Combination are those of Old Renovacor. Additionally, the shares and corresponding capital amounts and losses per share, prior to the SPAC Business Combination, have been retroactively restated based on shares reflecting the applicable exchange ratio resulting from the Common Per Share Merger Consideration and/or the Preferred Per Share Merger Consideration (each as defined by the SPAC Merger Agreement). Emerging Growth Company Status The Company is an "emerging growth company", as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, the Company may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expense, and related disclosures. The Company bases estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. The Company evaluates its estimates and assumptions on an ongoing basis. Estimates relied upon in preparing these financial statements relate to, but are not limited to, the fair value of financial instruments, stock-based compensation assumptions and accrued expenses (including accrued and prepaid clinical costs). Actual results may differ from these estimates under different assumptions or conditions. Financial Instruments The fair value of the Company’s financial instruments is determined and disclosed in accordance with the three-tier fair value hierarchy specified in Note 4, Fair Value Measurements . The Company is required to disclose the estimated fair values of its financial instruments. As of September 30, 2022 and December 31, 2021, the Company’s financial instruments consisted of cash equivalents, receivables, a note payable, and warrant and share earnout liabilities. As of September 30, 2022, the Company did not have any other derivatives, hedging instruments or other similar financial instruments. Concentration of Credit Risk Financial instruments that subject the Company to significant concentrations of credit risk consist primarily of cash primarily held at one financial institution, which, at times, may exceed federally insured limits, and cash equivalents consisting of investments in money market funds managed by a variety of financial institutions. The Company's credit risk is managed by investing in only highly rated money market instruments. As a result, no significant additional credit risk is believed by management to be inherent in the Company’s assets and the Company has not experienced any losses in such accounts and believes it is not exposed to any significant risk on such accounts . Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of 90 days or less when purchased to be “cash equivalents.” Cash and cash equivalents at September 30, 2022 consisted of cash and money market funds. Property and Equipment, net Property and equipment is carried at acquisition cost less accumulated depreciation and amortization, subject to review for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable in accordance with ASC 360-10-35, Impairment or Disposal of Long-Lived Assets. The cost of normal, recurring, or periodic repairs and maintenance activities related to property and equipment, if any, are expensed as incurred. The cost for planned major maintenance activities, including the related acquisition or construction of assets, is capitalized if the repair will result in future economic benefits. Depreciation and amortization are computed using the straight-line method based on the estimated useful lives of the related assets. Equipment and other long-lived assets are depreciated over three to five years . Leasehold improvements are amortized over the remaining lease term or the related useful life, if shorter. When an asset is disposed of, the associated cost and accumulated depreciation or amortization is removed from the related accounts on the Company's balance sheet with any resulting gain or loss included in the Company's condensed consolidated statement of operations . Operating Lease Right-of-use Assets and Lease Liabilities The Company accounts for leases under ASC 842, Leases ("ASC 842"). The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to, and the agreement creates enforceable rights and obligations. Under ASC 842, a contract is or contains a lease when (i) explicitly or implicitly identified assets have been deployed in the contract and (ii) the customer obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. The Company also considers whether its service arrangements include the right to control the use of an asset. Operating leases are included in “Operating lease right-of-use assets” within the Company’s balance sheets and represent the Company’s right to use an underlying asset for the lease term. The Company’s related obligation to make lease payments are included in “Operating lease liability” and “Operating lease liability, net of current portion” within the Company’s balance sheets. Operating lease right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As none of the Company’s leases provide an implicit rate, the Company uses its incremental borrowing rates, which are the rates incurred to borrow on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The ROU assets are tested for impairment according to ASC 360, Property, Plant, and Equipment (“ASC 360”). Leases with an initial term of 12 months or less are not recorded on the balance sheet and are recognized as lease expense on a straight-line basis over the lease term. As of September 30, 2022, the Company’s operating lease ROU assets and corresponding short-term and long-term lease liabilities primarily relate to its Cambridge, Massachusetts facility operating lease, as more fully described in Note 8. Other Current Liability In September 2022, the Company entered into a short-term financing arrangement with a third-party vendor to finance insurance premiums. The aggregate amount financed under this agreement was $ 1.0 million. As of September 30, 2022, the balance of $ 1.0 million, which is included in “Other current liability’ in the Company’s balance sheets, is scheduled to be paid in monthly installments through May 2023. Warrant Liability The Company accounts for stock warrants as either equity instruments, liabilities or derivative liabilities in accordance with ASC Topic 480, Distinguishing Liabilities from Equity ("ASC 480") and/or ASC Topic 815, Derivatives and Hedging ("ASC 815"), depending on the specific terms of the warrant agreement. Liability-classified warrants are recorded at their estimated fair values at each reporting period until they are exercised, terminated, reclassified or otherwise settled. Changes in the estimated fair value of liability-classified warrants are recorded in Change in Fair Value of Warrant Liability in the Company’s condensed consolidated statements of operations. Equity-classified warrants are recorded within additional paid-in capital at the time of issuance and not subject to remeasurement. Share Earnout Liability The Company accounts for share earnout arrangements that represent equity-linked instruments as either liabilities or equity instruments in accordance with ASC 815, unless such arrangements are within the scope of ASC Topic 718, Compensation–Stock Compensation ("ASC 718"), depending on the specific terms of the contract. Contracts classified as liabilities are recorded at their estimated fair values at each reporting period until they are no longer outstanding. Changes in the estimated fair value of liability-classified share earnout arrangements are recorded in Change in Fair Value of Share Earnout Liability in the Company’s condensed consolidated statements of operations. Research and Development Expense The Company expenses research and development expenses as incurred. The Company’s research and development expenses consist primarily of personnel-related expenses such as salaries, stock-based compensation, and benefits, and external costs of outside vendors engaged to conduct preclinical development activities, including manufacturing of preclinical and clinical drug supply. The Company accrues for expenses related to development activities performed by third parties based on an evaluation of services received and efforts expended pursuant to the terms of the contractual arrangements. There may be instances in which payments made to the Company’s vendors will exceed the level of services provided and result in a prepayment of expenses. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual or prepaid expense accordingly . Stock-Based Compensation The Company expenses stock-based compensation to employees and non-employees over the requisite service period, generally the vesting period, based on the estimated grant-date fair value of the awards. The Company accounts for forfeitures as they occur. Stock-based awards with graded-vesting schedules are recognized on a straight-line basis over the requisite service period for each separately vesting portion of the award. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model, and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. All stock-based compensation costs are recorded in general and administrative or research and development costs in the condensed consolidated statements of operations based upon the underlying individual’s role at the Company. Income Taxes In accordance with ASC 270, Interim Reporting , and ASC 740, Income Taxes , the Company is required at the end of each interim period to determine the best estimate of its annual effective tax rate and then apply that rate in providing for income taxes on a current year-to-date (interim period) basis. For the three and nine months ended September 30, 2022 and 2021, the Company recorded no tax expense or benefit due to the expected current year loss and its historical losses. The Company has no t recorded its net deferred tax asset as of either September 30, 2022 or December 31, 2021 because it maintained a full valuation allowance against all deferred tax assets as of these dates as management has determined that it is not more likely than not that the Company will realize these future tax benefits. As of September 30, 2022 and December 31, 2021, the Company had no uncertain tax positions. Net Loss per Share of Common Stock Basic and diluted net loss per share of common stock is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during each period, which includes shares of common stock underlying the Pre-funded Warrant (as defined herein), as such warrant is exercisable, in whole or in part, for nominal cash consideration with no expiration date. Shares of common stock outstanding but subject to forfeiture and cancellation by the Company (e.g., Sponsor Earnout Shares, as defined in the SPAC Merger Agreement) are excluded from the weighted-average shares until the period in which such shares are no longer subject to forfeiture. The diluted net loss per share calculation gives effect to, if any, the potential exercise or conversion of securities, such as stock options, Public Warrants and Private Placement Warrants, and Sponsor Earnout Shares and Old Renovacor Earnout Shares (each as defined herein), which would result in the issuance of incremental shares of common stock, unless their effect would be anti-dilutive. See Note 13 for additional details. New Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB and rules are issued by the SEC that the Company has or will adopt as of a specified date. Unless otherwise noted, management does not believe that any other recently issued accounting pronouncements issued by the FASB or guidance issued by the SEC had, or is expected to have, a material impact on the Company’s present or future consolidated financial statements. Accounting Pronouncements Recently Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) ("ASU 2016-02"). ASU 2016-02 (amended by ASU 2019-10 and ASU 2020-05) is effective for non-public entities and emerging growth companies for fiscal years beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. The new standard establishes a ROU model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the statement of operations. A modified retrospective transition approach is required at the beginning of the earliest comparative per iod presented in the financial statements, with certain practical expedients available. The Company adopted this standard effective January 1, 2022 . The adoption did no t have a material impact on the Company’s consolidated condensed financial statements as of the adoption date. However, in the second quarter of 2022, the Company entered into two real estate leases which resulted in the recognition of the required right-of use asset and corresponding lease liability for such lease obligations. See Note 8 for additional details. Should the Company enter into new or amend its current leases in the future, the carrying values of the Company's right-of use assets and lease liabilities could be materially impacted.

Merger and Recapitalization

Merger and Recapitalization	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Merger and Recapitalization	Note 3. Merger and Recapitalization SPAC Merger Agreement As discussed in Note 1, on the SPAC Merger Closing Date, the Company closed the SPAC Business Combination with Old Renovacor, as a result of which Old Renovacor became a wholly-owned subsidiary of the Company. While the Company was the legal acquirer of Old Renovacor in the business combination, for accounting purposes, the SPAC Merger is treated as a reverse recapitalization, whereby Old Renovacor is deemed to be the accounting acquirer, and the historical financial statements of Old Renovacor became the historical consolidated financial statements of the Company upon the closing of the SPAC Merger. Under this method of accounting, the Company was treated as the “acquired” company and Old Renovacor is treated as the acquirer for financial reporting purposes. Accordingly, for accounting purposes, the SPAC Merger was treated as the equivalent of Old Renovacor issuing stock for the net assets of the Company, accompanied by a recapitalization. The net assets of the Company were stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the SPAC Merger are presented as those of Old Renovacor. At the consummation of the SPAC Merger Agreement upon filing of a certificate of merger, which occurred on the SPAC Closing Date (the "SPAC Effective Time"), an aggregate of 6,305,061 shares of the Company’s common stock, par value $ 0.0001 per share, plus 194,926 Exchanged Options (defined below) (the "Aggregate SPAC Merger Consideration") was issued to equityholders of Old Renovacor as of immediately prior to the SPAC Effective Time. Out of the Aggregate SPAC Merger Consideration, each holder of preferred stock of Old Renovacor, par value $ 0.0001 per share (the "Old Renovacor Preferred Stock") was entitled to receive a number of shares of the Company's common stock equal to the Preferred Per Share Merger Consideration (as defined in the SPAC Merger Agreement) with respect to such holder’s shares of Old Renovacor Preferred Stock. Each holder of common stock of Old Renovacor, par value $ 0.0001 per share (the "Old Renovacor Common Stock," and together with Old Renovacor’s preferred stock, (the "Old Renovacor Capital Stock"), was entitled to receive a number of shares of the Company’s common stock equal to the Common Per Share Merger Consideration (as defined in the SPAC Merger Agreement) with respect to such holder’s shares of Old Renovacor Common Stock. In addition, pursuant to the Company's 2021 Investor Incentive Plan, a portion of the Aggregate SPAC Merger Consideration was allocated among certain Old Renovacor equityholders or their affiliates who elected to participate in the PIPE Investment on a pro rata basis based on their respective investment amounts. Each option to purchase shares of Old Renovacor Common Stock ("Old Renovacor Option") outstanding as of immediately prior to the SPAC Effective Time was converted into an option to purchase a number of shares of the Company’s common stock (rounded down to the nearest whole number) equal to the product of the number of shares of Old Renovacor Common Stock subject to such Old Renovacor option and the Common Per Share Merger Consideration (as defined in the SPAC Merger Agreement) (an "Exchanged Option"), which Exchanged Option is subject to the same vesting terms applicable to the Old Renovacor Option as of immediately prior to the Effective Time. The shares and corresponding capital amounts and loss per share related to Old Renovacor Common Stock prior to the SPAC Business Combination Transaction were retroactively restated to reflect the Common Per Share Merger Consideration and the Preferred Per Share Merger Consideration (each as defined in the SPAC Merger Agreement), as applicable. Holders of Old Renovacor Capital Stock are entitled to receive up to an additional 1,922,816 shares of the Company’s common stock (the “Old Renovacor Earnout Shares”) as follows: • 576,845 Old Renovacor Earnout Shares, in the aggregate, if at any time during the period beginning on the date of the SPAC Merger Closing Date and ending on December 31, 2023 (the “First Earnout Period”), the volume-weighted average price ("VWAP") (as defined in the SPAC Merger Agreement) of the Company’s common stock over any twenty ( 20 ) Trading Days (as defined in the SPAC Merger Agreement) (which may or may not be consecutive) within any thirty ( 30 ) consecutive Trading Day period is greater than or equal to $ 17.50 per share of the Company’s common stock (the “First Milestone”). • An additional 576,845 Old Renovacor Earnout Shares, in the aggregate, if at any time during the period beginning on the SPAC Merger Closing Date and ending on December 31, 2025 (the “Second Earnout Period”), the VWAP of the Company’s common stock over any twenty ( 20 ) Trading Days (which may or may not be consecutive) within any thirty ( 30 ) consecutive Trading Day period is greater than or equal to $ 25.00 per share of the Company’s common stock (the “Second Milestone”). • An additional 769,126 Old Renovacor Earnout Shares, in the aggregate, if at any time during the period beginning on the SPAC Merger Closing Date and ending on December 31, 2027 (the “Third Earnout Period” and together with the First Earnout Period and the Second Earnout Period, each, an “Earnout Period” and collectively, the “Earnout Periods”), the VWAP of the Company’s common stock over any twenty ( 20 ) Trading Days (which may or may not be consecutive) within any thirty ( 30 ) consecutive Trading Day period is greater than or equal to $ 35.00 per share of the Company’s common stock (the “Third Milestone” and together with the First Milestone and the Second Milestone, the “Earnout Milestones”). • Upon the consummation of any Change in Control (as defined in the SPAC Merger Agreement) during any Earnout Period, any Earnout Milestone with respect to such Earnout Period that has not yet been achieved shall automatically be deemed to have been achieved regardless of the valuation of the Company’s common stock in such Change in Control transaction and the Company will take all actions necessary to provide for the issuance of the shares of the Company’s common stock comprising the applicable Old Renovacor Earnout Shares issuable in respect of such Earnout Milestone(s) prior to the consummation of such Change in Control. Each holder of Old Renovacor's Capital Stock was entitled to such holder’s aggregate Per Share Earnout Consideration (as defined in the SPAC Merger Agreement) in respect of such shares of Old Renovacor's Capital Stock as described above. In addition, at the SPAC Effective Time, holders of Old Renovacor Options received the right to be granted an Earnout RSU Award (as defined in the SPAC Merger Agreement) in respect of such holder’s Old Renovacor Options, which entitle such holder to an aggregate number of shares of the Company's common stock equal to the aggregate Per Share Earnout Consideration in respect of the shares of Old Renovacor Capital Stock underlying such Old Renovacor Options, if any, subject to the satisfaction of the applicable vesting conditions with respect to the Exchanged Options issued in respect of such Renovacor Options at the SPAC Merger closing. See Note 11 for further details. Further, under the terms of the SPAC Business Combination (as provided for in the Sponsor Support Agreement), certain Sponsor Shares totaling 500,000 were placed into escrow and subject to forfeiture (the "Sponsor Earnout Shares"). Such Sponsor Earnout Shares will be released from escrow if the weighted average sale price of the Company's common stock equals or exceeds the applicable Target Price (as set forth in the table below) for any 20 trading days within a 30-day trading period from the SPAC Effective Time until the applicable end date. Upon consummation of any Change in Control (as defined in the SPAC Merger Agreement) during any Earnout Period, any Earnout Milestone with respect to such Earnout Period that has not yet been achieved shall automatically be deemed to have been achieved regardless of the valuation of the per share common stock price in such Change in Control transaction. Any Sponsor Earnout Shares that remain unvested as of the expiration of the applicable earnout period shall be forfeited and canceled. The Old Renovacor Earnout Shares and Sponsor Earnout Shares (collectively, the "Earnout Shares") are summarized, as set forth in the table below: Old Renovacor Sponsor Target Price Earnout Shares Earnout Shares Total December 31, 2023 $ 17.50 576,845 150,000 726,845 December 31, 2025 $ 25.00 576,845 150,000 726,845 December 31, 2027 $ 35.00 769,126 200,000 969,126 1,922,816 500,000 2,422,816 PIPE Investment (Private Placement) Concurrently with the execution of the SPAC Merger Agreement, the Company entered into subscription agreements (the "Subscription Agreements"), with certain investors ("PIPE Investors"), including Chardan Healthcare, certain stockholders of Old Renovacor and certain other institutional and accredited investors, pursuant to which, on the SPAC Closing Date, and concurrently with the closing of the SPAC Business Combination, the PIPE Investors purchased an aggregate of 2,284,776 shares the Company's common stock, at a price of $ 10.00 per share, and a pre-funded warrant entitling the holder thereof to purchase 715,224 shares of the Company's common stock (the "Pre-Funded Warrant") at an initial purchase price of $ 9.99 per share underlying the Pre-Funded Warrant, for aggregate gross proceeds of approximately $ 30.0 million (the "PIPE Investment"). The Pre-Funded Warrant is immediately exercisable at an exercise price of $ 0.01 and is exercisable indefinitely, provided that the holder of the Pre-Funded Warrant is prohibited from exercising such Pre-Funded Warrant in an amount that would cause such holder’s beneficial ownership of our Common Stock to exceed 9.99 %, which limitation may be increased up to 19.99 % at the option of the holder from time to time. The following table summarizes the elements of the net proceeds from the SPAC Merger as of September 30, 2022: (In thousands) Amount Cash – CHAQ trust and cash, net of redemptions $ 65,127 Cash – PIPE financing 29,993 Less: CHAQ and Old Renovacor transaction costs paid ( 5,828 ) Less: Settlement of convertible note at closing ( 2,500 ) Effect of SPAC Merger, net of redemptions and transaction costs $ 86,792 The following table details the number of shares of common stock issued immediately following the consummation of the SPAC Merger: Number of Shares Common stock, outstanding prior to SPAC Merger 8,622,644 Less: redemption of CHAQ shares ( 2,112,100 ) Common stock of CHAQ 6,510,544 CHAQ Founder shares 2,155,661 Shares issued in PIPE Financing 2,284,776 Merger and PIPE financing shares - common stock 10,950,981 Shares issued to Old Renovacor - common stock (1) 6,305,061 Total shares of common stock immediately after SPAC Merger (2) 17,256,042 ____________________ (1) The number of shares of common stock issued to Old Renovacor equityholders was determined based on (i) 1,987,636 shares of Old Renovacor Common Stock outstanding immediately prior to the closing of the SPAC Merger converted based on the Common Per Share Merger Consideration (as defined in the SPAC Merger Agreement) and (ii) 2,578,518 shares of Old Renovacor Preferred Stock outstanding immediately prior to the closing of the SPAC Merger converted based on the Preferred Per Share Merger Consideration (as defined in the SPAC Merger Agreement). All fractional shares were rounded down. (2) Includes 500,000 shares of common stock being held in escrow and subject to vesting or forfeiture based on satisfaction of the Earnout Milestones set forth in the Sponsor Support Agreement. Such shares are liability classified and included in the Share earnout liability as of September 30, 2022 and December 31, 2021. See Note 10 – Stockholders’ Equity for additional details of the Company’s capital stock.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4. Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company applies the guidance in ASC 820, Fair Value Measurement , to account for financial assets and liabilities measured on a recurring basis. Fair value is measured at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. The Company uses a fair value hierarchy, which distinguishes between assumptions based on market data (observable inputs) and an entity's own assumptions (unobservable inputs). The guidance requires that fair value measurements be classified and disclosed in one of the following three categories: • Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; • Level 2: Quoted prices in markets that are not active or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and • Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each reporting period. There were no transfers between Level 1, 2 and 3 during the nine months ended September 30, 2022. The table below presents the liabilities measured and recorded in the financial statements at fair value on a recurring basis at September 30, 2022 and December 31, 2021 categorized by the level of inputs used in the valuation of each asset and liability. September 30, 2022 (In thousands) Total Level 1 Level 2 Level 3 Assets Cash equivalents – money market funds $ 52,724 $ 52,724 $ — $ — Total assets $ 52,724 $ 52,724 $ — $ — Liabilities Warrant liability $ 1,369 $ — $ — $ 1,369 Share earnout liability 4,967 — — 4,967 Total liabilities $ 6,336 $ — $ — $ 6,336 December 31, 2021 (In thousands) Total Level 1 Level 2 Level 3 Assets Cash equivalents – money market funds $ 77,792 $ 77,792 $ — $ — Total assets $ 77,792 $ 77,792 $ — $ — Liabilities Warrant liability $ 11,165 $ — $ — $ 11,165 Share earnout liability 12,256 — — 12,256 Total liabilities $ 23,421 $ — $ — $ 23,421 Changes in Level 3 Liabilities Measured at Fair Value on a Recurring Basis Warrant Liability and Earnout Share Liability The reconciliation of the Company's warrant and earnout share liability measured at fair value on a recurring basis using unobservable inputs (Level 3) is as follows: Warrant Earnout Share (In thousands) Liability Liability Balance, December 31, 2021 $ 11,165 $ 12,256 Change in the fair value of liability ( 9,796 ) ( 7,289 ) Balance, September 30, 2022 $ 1,369 $ 4,967 Assumptions Used in Determining Fair Value of Liability-Classified Warrants The Company utilizes a Black-Scholes model to value the Private Placement Warrants at each reporting period, with changes in fair value recognized in the condensed consolidated statements of operations. The estimated fair value of the warrant liability is determined using Level 3 inputs. Inherent in an options pricing model are assumptions related to expected share-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimates the expected volatility of its common stock based on historical volatility of a peer group, considering the expected remaining life of the Private Placement Warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the valuation date for a maturity similar to the expected remaining life of the Private Placement Warrants. The expected life of the Private Placement Warrants is assumed to be equivalent to their remaining contractual term. The dividend rate is based on the historical rate, which the Company anticipates to remain at zero . The fair value of the Private Placement Warrants has been estimated with the following assumptions: September 30, December 31, 2022 2021 Stock price $ 2.52 $ 7.70 Strike price $ 11.50 $ 11.50 Expected volatility 80.0 % 75.0 % Risk-free interest rate 4.29 % 1.01 % Expected dividend yield — — Expected life (years) 2.56 3.31 Fair value per warrant $ 0.39 $ 3.19 Assumptions Used in Determining Fair Value of Liability-Classified Earnout Shares The Company utilizes a Monte Carlo simulation to value the Earnout Shares. The Company selected this model as it believes it is reflective of all significant assumptions that market participants would likely consider in negotiating the transfer of the Earnout Shares. Such assumptions include, among other inputs, expected stock price volatility, risk-free rates, and change in control assumptions. The Company estimates probability of a change in control based on both market data for the biotechnology industry and managements own assessment. The Company estimates the expected volatility of its common stock based on historical volatility of a peer group, considering the remaining term of the Earnout Shares. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the valuation date for a maturity similar to the expected remaining life of the Earnout Shares. The expected life of the Earnout Shares is assumed to be equivalent to their remaining contractual term. The dividend rate is based on the historical rate, which the Company anticipates to remain at zero. The fair value of the Earnout Shares has been estimated with the following assumptions: September 30, December 31, 2022 2021 Stock price $ 2.52 $ 7.70 Probability of Change in Control 75.0 % 7.5 % Expected volatility 80.0 % 75.0 % Risk-free interest rate 4.05 % 1.35 % Expected dividend yield — — Expected life (years) 5.25 6.00 Fair value per share $ 2.05 $ 5.06

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 5. Property and Equipment Property and equipment, net, consisted of the following: September 30, December 31, ($ in thousands) 2022 2021 Laboratory equipment $ 1,319 $ 380 Leasehold improvements 178 — Total property and equipment, at cost 1,497 380 Less: accumulated depreciation and amortization ( 56 ) ( 1 ) Property and equipment, net $ 1,441 $ 379

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Note 6. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: September 30, December 31, ($ in thousands) 2022 2021 Research and development costs $ 310 $ 209 Insurance 1,277 1,369 Other 354 185 Total prepaid expenses and other current assets $ 1,941 $ 1,763

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses	Note 7. Accrued Expenses Accrued expenses consisted of the following: September 30, December 31, ($ in thousands) 2022 2021 Employee compensation and benefits $ 1,986 $ 1,282 External research and development expenses 1,133 409 Property and equipment 26 360 Merger-related costs 450 — Professional fees 162 347 Other 188 100 Total accrued expenses $ 3,945 $ 2,498

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies Legal Proceedings The Company is not currently subject to any material legal proceedings. License and Sponsored Research Agreements The Company is obligated to compensate Temple pursuant to the Temple License Agreement and is committed to funding the Temple SRA and Utah SRA, each as further described in Note 9. Lease Commitments The Company has commitments under certain operating leases for facilities used in its operations. These operating leases have initial lease terms ranging from 2.0 to approximately 10.3 years. The lease agreements contain provisions for future rent increases and options to extend the initial lease terms. Future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities recognized on the balance sheet as of September 30, 2022 is as follows: ($ in thousand) Operating Leases Remainder of 2022 $ 63 2023 254 2024 76 2025 16 2026 17 Thereafter 124 Total lease payments $ 550 Less: imputed interest ( 44 ) Total present value of lease liabilities $ 506 In June 2022, the Company entered into an agreement to lease portions of a facility. The lease commencement date has not occurred for certain portions of the facility as of September 30, 2022. As a result, future lease payments of approximately $ 5.0 million are not recorded on the Company’s consolidated balance sheets and are excluded from the table above. Each of the premises set forth in the agreement are expected to be fully available by January 2023, with a initial term of approximately 10.3 years; provided, however, the Company has the right to terminate the lease effective September 30, 2029, subject to an early termination penalty. The following table sets forth information pertaining to the Company's operating lease liabilities as of September 30, 2022: September 30, 2022 Weighted-average remaining lease term (in years): Operating leases 4.28 Weighted-average discount rate: Operating leases 3.02 % During the three and nine months ended September 30, 2022, rent expense was less than $ 0.1 million and $ 0.1 million, respectively. No rent expense was incurred during the nine months ended September 30, 2021. Rocket Merger Financial Advisor Fee The Company retained Wells Fargo Securities as its financial advisor in connection with the Mergers. In connection therewith, the Company agreed to pay Wells Fargo Securities an aggregate fee currently estimated to be approximately $ 3.0 million (the "Financial Advisor Fee"), $ 1.0 million of which became payable to Wells Fargo Securities upon execution of the Rocket Merger Agreement on September 19, 2022, and the remainder of which is contingent and payable upon the consummation of the Mergers. In addition, the Company has agreed to reimburse Wells Fargo Securities for certain expenses and to indemnify Wells Fargo Securities and certain related parties against certain liabilities and other items that may arise out of or relate to Wells Fargo Securities’ engagement. None of the remaining estimated $ 2.0 million of the Financial Advisor Fee is reflected in the Company's financial statements as such amounts are contingent on the Mergers being consummated, which is subject to approval by both Rocket and Renovacor shareholders.

License and Sponsored Research

License and Sponsored Research Agreements	9 Months Ended
	Sep. 30, 2022
Research and Development [Abstract]
License and Sponsored Research Agreements	Note 9. License and Sponsored Research Agreements Temple University In August 2019, Old Renovacor entered into an exclusive license agreement effective as of August 12, 2019 , which was amended on September 13, 2022 (as amended to date, the “Temple License Agreement”), and a sponsored research agreement effective as of August 12, 2019, which was amended effective as of August 12, 2019, August 27, 2019 and further amended effective as of July 1, 2021 (as amended to date, the “Temple SRA”), each with Temple University (“Temple”). The Temple License Agreement was assigned to the Company in connection with the Merger. Pursuant to the Temple License Agreement, Temple granted the Company an exclusive, royalty-bearing, sublicensable, worldwide license to certain patent rights in certain inventions related to the use of BAG3 technology for the diagnosis, prevention or treatment of diseases in humans, and a non-exclusive license to use specified know-how and materials with a provision that Temple will retain the rights to practice the patent rights for non-commercial educational research purposes only and shall be free to sublicense these rights to other non-profit educational and research institutions solely for noncommercial research and educational purposes. Under the Temple SRA, Temple is primarily responsible for preclinical development activities with respect to licensed technology and know-how through the pursuit of specific investigational questions which, in the aggregate, are intended to provide important supporting data for a future IND-enabling studies and for potential future marketing efforts. The Company is responsible for all subsequent clinical development and commercialization activities with respect to the licensed technology and know-how. Upon execution of the Temple License Agreement in 2019, Old Renovacor issued to Temple 97,879 shares of Old Renovacor Common Stock on the effective date of the transaction and agreed to issue Temple an additional 9,130 shares of Old Renovacor Common Stock upon the closing date of the second tranche of the Series A Convertible Preferred Stock, which occurred in November 2020. The Company also reimbursed Temple for the prosecution and maintenance costs incurred by Temple for the licensed patent rights prior to the Company entering into the License Agreement, and the Company is responsible for all the ongoing costs relating to the prosecution and maintenance of the Temple patent rights licensed to the Company going forward. The Company also agreed to pay Temple a minimum annual administrative fee of $ 20,000 per year beginning with the effective date of the Temple License Agreement and continuing each annual anniversary thereafter. Further, as required by Section 12.2 of the License Agreement, the Company was required to pay, and recorded to research and development expense during the third quarter of 2021, an assignment fee of $ 100,000 to Temple following closing of the Merger related to the assignment of the License Agreement from Old Renovacor to the Company. The Temple License Agreement requires the Company to pay up to an aggregate of $ 1.25 million to Temple upon the achievement of certain developmental, regulatory and commercial milestones for the first licensed product that achieves said milestones regardless of the number of licensed products that achieve them. In addition, the Company is required to pay Temple a low single-digit royalty on net sales of any product utilizing the patent rights under the License Agreement, up to 50 % of which may be reduced by payments Renovacor makes to third parties for freedom to operate. In addition, the Company must also pay a percentage of all consideration based on a percentage of sublicense consideration received by it, which percentage ranges from the mid-teens to mid-twenties depending on the stage of development at the time of the sublicense agreement. The Temple License Agreement will remain effective until (i) the expiration date of the last-to-expire patents covered under the License Agreement (currently expected to occur in 2041); (ii) the termination by Temple upon (a) an uncured breach by the Company, with a 60-day notification period, (b) the Company’s filing of a voluntary petition in bankruptcy or related proceeding, providing such petition is not dismissed within 90 days after the filing thereof, (c) a failure by the Company to meet certain milestones set forth in the Licensed Agreement, or (d) non-payment of undisputed monies due to Temple, with a 30-day notification period. Additionally, the Company may terminate the entire agreement or with respect to an individual patent or patent application, if desired, subject a 90-day notification period. As it relates to the Temple SRA, prior to the amendment entered into in August 2021 and effective as of July 1, 2021, Temple was to conduct certain preclinical activities for a three-year period, unless terminated sooner or extended by mutual written consent, for which the Company was obligated to fund approximately $ 0.9 million over the three-year initial term of the Temple SRA. The Temple SRA was further amended effective as of July 1, 2021 (the “2021 Amendment”) to, among other things, revise the period of performance, scope of work, and the budget. Following the 2021 Amendment, the Company is expected to fund up to a total of approximately $ 5.3 million to Temple through June 30, 2024, pursuant to the Temple SRA, of which approxi mately $ 2.2 million has been funded and/or incurred since inception of the Temple SRA through September 30, 2022. During t he three months ended September 30, 2022 and 2021, the Company recorded research and development expenses of approximately $ 0.4 million and $ 0.5 million, respecti vely, related to the Temple SRA. During the nine months ended September 30, 2022 and 2021, the Company recorded research and development expen ses of approximately $ 0.8 million and $ 0.7 million, resp ectively, related to the Temple SRA. University of Utah In June 2022, the Company entered into a research agreement (the "Utah SRA") with the University of Utah ("Utah"), pursuant to which (i) Utah and Renovacor will conduct a research collaboration focused on a protein discovered by Utah's scientists that has the potential to address multiple genetic segments of arrhythmogenic cardiomyopathy, and (ii) the Company was granted an option for an exclusive license to inventions generated from the collaboration, the terms of which shall be negotiated following notice in writing of exercise of the option. The term of the Utah SRA commenced on July 1, 2022 and shall continue until June 30, 2027 unless earlier terminated in accordance with the provisions of the Utah SRA (the "Initial Term"); provided, however, the Utah SRA may be extended for additional periods of performance beyond the Initial Term, upon written approval by the Company and Utah. Pursuant to the terms of the Utah SRA, the Company is obligated to fund Utah a total of approximately $ 3.5 million during the five-year Initial Term. During the three and nine months ended September 30, 2022, the Company recorded research and development expenses of approximately $ 0.2 million related to the Utah SRA.

Stockholder's Equity

Stockholder's Equity	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Stockholder's Equity	Note 10. Stockholder’s Equity Common Stock Upon closing of the SPAC Merger, pursuant to the terms of the Second Amended and Restated Certificate of Incorporation, the Company was authorized to issue up to 100,000,000 shares of common stock, par value $ 0.0001 per share ("Common Stock"). As discussed in Note 3, the Company has retroactively adjusted the shares issued and outstanding prior to September 2, 2021 to give effect to the Common Per Share Merger Consideration (as defined in the SPAC Merger Agreement) to determine the number of shares of common stock into which they were converted. Prior to the SPAC Merger, the Company was authorized to issue up to 6,000,000 shares of common stock, of which 1,987,636 were issued and outstanding immediately prior to the SPAC Merger Closing Date. See Note 3. Preferred Stock Upon closing of the SPAC Merger, pursuant to the terms of the Second Amended and Restated Certificate of Incorporation, the Company was authorized to issue up to 1,000,000 shares of undesignated preferred stock, par value $ 0.0001 ("Undesignated Preferred Stock"). The Company's board of directors or any committee thereof is expressly authorized, to the fullest extent permitted by law, to provide by resolution or resolutions for, out of the unissued shares of Undesignated Preferred Stock, the issuance of the shares of Undesignated Preferred Stock in one or more series, and by filing a certificate of designations pursuant to the General Corporate Law of the State of Delaware, to establish or change from time to time the number of shares of each such series, and to fix the designations, powers, including voting powers, full or limited, or no voting powers, preferences and the relative, participating, optional or other special rights of the shares of each series and any qualifications, limitations and restrictions thereof. As discussed in Note 3, the Company has retroactively adjusted the shares issued and outstanding prior to September 2, 2021 to give effect to the Preferred Per Share Merger Consideration (as defined in the SPAC Merger Agreement) to determine the number of shares of common stock into which they were converted. Prior to the SPAC Merger, the Company was authorized to issue up to 3,333,283 shares of its Series A convertible preferred stock, par value $ 0.0001 ("Series A Preferred Stock"), of which 2,578,518 were issued and outstanding immediately prior to the SPAC Merger Closing Date. See Note 3. The Series A Preferred Stock, prior to consummation of the SPAC Business Combination, was convertible into common stock at the option of the holder at any time and without payment of any additional consideration. Each share of Series A Preferred Stock was convertible into a number of fully paid shares of common stock as is determined by dividing the Series A Preferred Stock original issuance price ($ 4.065063 ) by the Series A Preferred Stock conversion price (initially equal to $4.065063). Provided, however, shares of Series A Preferred Stock would automatically be converted into shares of common stock upon either (a) the closing of an underwritten public offering at a price of at least $ 12.20 per share resulting in at least $ 60 million of gross proceeds, prior to deductions for underwriting discounts, commission, and expenses, or (b) the date and time, or occurrence of an event, specified by a vote of at least a majority of the holders of the Series A Preferred Stock then outstanding. The Series A Preferred Stock was subject to redemption under certain deemed liquidation events and the holders were entitled to a liquidation preference in the event of a voluntary or involuntary liquidation, dissolution or winding-up of the Company, or deemed liquidation event of the Company (which includes certain mergers and asset transfers). The liquidation preference was an amount equal $ 4.065063 , plus cumulative accrued dividends to date on such shares. Assumed Public Warrants Prior to the SPAC Merger, the Company had outstanding 8,622,644 warrants ("Public Warrants") which were issued in connection with the Company's initial public offering in April 2020 (the "Chardan IPO"). Each Public Warrant entitles the holder to purchase one-half of one share of the Company's common stock at an exercise price of $ 11.50 per whole share, subject to adjustment. No fractional shares will be issued upon exercise of the Public Warrants. Therefore, the Public Warrants must be exercised in multiples of two Public Warrants for one share of the Company's common stock. The Public Warrants became exercisable upon the closing of the SPAC Business Combination; provided the Company has an effective and current registration statement covering the shares of Company common stock issuable upon the exercise of the Public Warrants and a current prospectus relating to such shares of common stock. The Public Warrants will expire five years following the SPAC Merger Closing Date or earlier upon redemption or liquidation. The Company may redeem the Public Warrants: • in whole and not in part; • at a price of $ 0.01 per Public Warrant; • at any time during the exercise period; • upon a minimum of 30 days ’ prior written notice of redemption; • if, and only if, the last sale price of the Company’s common stock equals or exceeds $ 16.00 per share for any 10 trading days within a 30-trading day period ending on the third business day prior to the date on which the Company sends the notice of redemption to the warrant holders; and • if, and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such Public Warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption. To date, certain of the above conditions have not been met to redeem the Public Warrants. If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of shares of Common Stock issuable upon exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. Additionally, in no event will the Company be required to net cash settle the Public Warrants. The Company determined that the Public Warrants met all of the criteria for equity classification. Accordingly, upon closing of the SPAC Merger, the Public Warrants were recorded as a component of additional paid-in capital. Assumed Private Placement Warrants Prior to the SPAC Merger, the Company had outstanding 3,500,000 warrants ("Private Placement Warrants") which were issued simultaneously with the closing of the Chardan IPO, pursuant to a private placement transaction. Each Private Placement Warrant is exercisable to purchase one share of common stock at an exercise price of $ 11.50 . The Private Placement Warrants are identical to the Public Warrants except that the Private Placement Warrants (i) will be exercisable for cash (even if a registration statement covering the shares of common stock issuable upon exercise of such warrants is not effective) or on a cashless basis, at the holder’s option, and (ii) will not be non-redeemable by the Company, in each case, so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. The Private Placement Warrants purchased by Chardan will not be exercisable more than five years from the effective date of the Chardan IPO, in accordance with FINRA Rule 5110(f)(2)(G)(i), as long as Chardan Capital Markets or any of its related persons beneficially own these Private Placement Warrants. The Private Placement Warrants are not indexed to the Company’s common stock in the manner contemplated by ASC 815-40-15 because the holder of the instrument is not an input into the pricing of a fixed-for-fixed option on equity shares. The Company classifies the Private Placement Warrants as derivative liabilities in its condensed consolidated balance sheets. The Company measures the fair value of the warrants at the end of each reporting period and recognizes changes in the fair value from the prior period in the Company’s operating results for the current period. Refer to Note 4 for discussion of fair value measurement of the warrant liabilities. The following table summarizes outstanding warrants to purchase shares of the Company’s common stock as of September 30, 2022 and December 31, 2021: Number of Warrants September 30, December 31, Weighted-Average 2022 2021 Exercise Price Expiration Date Liability-classified Warrants April 2020 Private Placement Warrants 3,500,000 3,500,000 $ 11.50 4/23/2025 3,500,000 3,500,000 Equity-classified Warrants April 2020 Public Warrants (1) 8,622,644 8,622,644 $ 11.50 9/2/2026 September 2021 Pre-Funded Warrants (2) 715,224 715,224 $ 0.01 — 9,337,868 9,337,868 Total outstanding 12,837,868 12,837,868 ——————— (1) Public Warrants assumed in the SPAC Merger. Each warrant share is exercisable for one-half share of common stock, provided, however, each warrant must be exercised in multiples of two. (2) Pre-Funded Warrant issued in connection with PIPE Investment (Note 3). Each warrant share is exercisable indefinitely for one share of common stock. Capital Stock Reserves As of September 30, 2022, the Company reserved the following shares of common stock for future issuance: Amount Shares issuable upon exercise of pre-funded warrants outstanding 715,224 Shares issuable upon exercise of warrants outstanding 7,811,322 Shares issuable upon issuance of contingent consideration (Earnout Shares and Earnout RSUs) 1,994,338 Shares issuable upon exercise of outstanding stock options 2,086,706 Shares issuable upon vesting of time-based restricted stock units 163,350 Shares reserved for future issuance under 2021 Incentive Plan 866,190 Total 13,637,130

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Note 11. Stock-based Compensation Equity Incentive Plans As of September 30, 2022, the only equity compensation plan from which the Company may currently issue new awards is the Company’s 2021 Omnibus Incentive Plan (the “2021 Plan”), as more fully described below. 2018 Stock Option and Grant Plan Prior to the SPAC Merger, Old Renovacor maintained its 2018 Stock Option and Grant Plan (the "2018 Plan"), under which Old Renovacor granted incentive stock options, non-qualified stock options and restricted stock awards to its employees and certain non-employees, including consultants, advisors and directors. The maximum aggregate shares of common stock that was subject to awards and issuable under the 2018 Plan was 1,118,869 prior to the SPAC Merger. As more fully described in Note 3, in connection with the SPAC Merger, each Old Renovacor Option that was outstanding and unexercised immediately prior to the SPAC Effective Time (whether vested or unvested) was assumed by the Company and converted into an option to purchase an adjusted number of shares of the Company's common stock at an adjusted exercise price per share, based on the Per Common Share Merger Consideration (as defined in the SPAC Merger Agreement), and will continue to be governed by substantially the same terms and conditions, including vesting, as were applicable to the former option. Each Exchanged Option is exercisable for a number of whole shares of common stock equal to the product of the number of shares of Old Renovacor Common Stock underlying such Old Renovacor Options multiplied by the Per Common Share Merger Consideration (as defined in the SPAC Merger Agreement), and the per share exercise price of such Exchanged Option is equal to the quotient determined by dividing the exercise price per share of the Old Renovacor Option by the Per Common Share Merger Consideration (as defined in the SPAC Merger Agreement). Following the closing of the Merger, no new awards may be made under the 2018 Plan. Upon the closing of the SPAC Merger, the outstanding and unexercised Old Renovacor Options became options to purchase an aggregate 194,926 shares of the Company’s common stock at an average exercise price of $ 5.66 per share. The Company accounted for the Exchanged Options as a modification of the existing options. Incremental compensation costs, measured as the excess, if any, of the fair value of the modified options over the fair value of the original options immediately before its terms are modified, is measured based on the fair value of the underlying shares and other pertinent factors at the modification date. The impact of the option modifications were de minimis . 2021 Omnibus Incentive Plan At the SPAC Effective Time, the Company adopted the 2021 Plan which permits the granting of incentive stock options, non-qualified options, stock appreciation rights, restricted stock, restricted stock units and other stock-based award, and performance awards to employees, directors, and non-employee consultants and/or advisors. As of September 30, 2 022, 3,008,803 shares of Common Stock are authorized for issuance pursuant to awards under the 2021 Plan. The pool of available shares automatically increases on the first day of each calendar year, beginning January 1, 2022 and ending January 1, 2031, by an amount equal to the lesser of (i) 4 % of the outstanding shares of our Common Stock determined on a fully-diluted basis as of the immediately preceding December 31 and (ii) such smaller number of shares as determined by the Company's board of directors. In addition, any awards outstanding under the 2018 Plan upon the closing of the SPAC Business Combination, after adjustment for the SPAC Business Combination, remain outstanding. If any of those awards subsequently expire, terminate, or are surrendered or forfeited for any reason without issuance of shares after the closing of the SPAC Business Combination, the shares of the Company's common stock underlying those awards will automatically become available for issuance under the 2021 Plan. No new awards may be made under the 2018 Plan. The exercise prices, vesting and other restrictions of the awards to be granted under the 2021 Plan are determined by the board of directors, except that no stock option may be issued with an exercise price less than the fair market value of the common stock at the date of the grant or have a term in excess of ten years. Options granted under the 2021 Plan are exercisable in whole or in part at any time subsequent to vesting. As of September 30, 2022, options exercisable for 1,907,741 shares of common stock and 234,872 restricted stock units (including 71,522 Earnout RSUs) were outstanding, and 866,190 sha res of common stock units remain available for future issuance under the 2021 Plan. Accounting for Stock-based Compensation The Company recognizes non-cash compensation expense for stock-based awards under the Company’s equity incentive plans over an award’s requisite service period, or vesting period, using the straight-line attribution method, based on their grant date fair value, determined using the Black-Scholes option-pricing model. Generally, the Company issues awards with only service-based vesting conditions and records the expense for these awards using the straight-line method. The Company recognizes forfeitures related to stock-based compensation awards as they occur and reverses any previously recognized compensation cost associated with forfeited awards in the period the forfeiture occurs. The Company classifies stock-based compensation expense in the statement of operations in the same manner in which the award recipients’ payroll costs are classified or in which the award recipients’ service payments are classified. Total stock-based compensation expense attributable to stock-based payments made to employees, consultants and directors included in operating expenses in the Company's condensed consolidated statements of operations for the three and nine months ended September 30, 2022 and 2021 was as follows: Three months ended Nine Months Ended September 30, September 30, ($ in thousands) 2022 2021 2022 2021 Research and development $ 320 $ 364 $ 993 $ 543 General and administrative 262 154 822 167 Total stock-based compensation expense $ 582 $ 518 $ 1,815 $ 710 Stock Option Awards Assumptions Used in Determining Fair Value of Stock Options Inherent in the Black-Scholes option-pricing model are the following assumptions: Volatility . The Company lacks company-specific historical and implied volatility information. Therefore, the Company estimates the expected stock volatility based on the historical volatility of a publicly traded set of peer companies over a period of time commensurate with the expected term of the stock options. The Company expects to continue to do so until it has adequate historical data regarding the volatility of the Company's traded stock price. Expected term . The Company uses the simplified method described in the SEC’s Staff Accounting Bulletin No. 107, Share-Based Payment (“ SAB 107 ”), to determine the expected life of the option grants. Risk-free interest rate . The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant commensurate with the expected term assumption. Dividend rate . The dividend rate is based on the historical rate, which the Company anticipates will remain at zero. Forfeitures . The Company accounts for forfeitures when they occur. Ultimately, the actual expense recognized over the vesting period will be for only those shares that vest. Prior to the SPAC Business Combination, the grant date fair value of the shares of Old Renovacor common stock was determined by the Old Renovacor's board of directors with the assistance of management using valuation methodologies which utilize certain assumptions including probability weighting of events, volatility, time to liquidation, a risk-free interest rate, and an assumption for a discount for lack of marketability. In determining the fair value of the shares of Old Renovacor's common stock, the methodologies used to estimate the enterprise value were performed using methodologies, approaches, and assumptions consistent with the American Institute of Certified Public Accountants Accounting and Valuation Guide, Valuation of Privately-Held-Company Equity Securities Issued as Compensation . Subsequent to the SPAC Business Combination, the Company utilizes the price of its publicly-traded common stock to determine the grant date fair value of awards. The fair value of each option award at the date of grant was estimated using the Black-Scholes option pricing model. All options granted during the nine months ended September 30, 2022 and 2021 were granted at exercise prices equal to the fair market value of the common stock on the dates of grant. The following table provides the weighted-average assumptions used in determining the fair value of option awards to purchase 953,725 and 1,041,004 shares of common stock granted during the nine months ended September 30, 2022 and 2021, respectively: Nine months ended September 30, 2022 2021 Expected volatility 77.0 % 77.7 % Risk-free interest rate 2.37 % 0.92 % Expected dividend yield — — Expected term (years) 6.03 5.95 The weighted average fair value of the options grante d was $ 2.99 and $ 5.22 per share for the nine months ended September 30, 2022 and 2021, respectively. Stock Option Activity The following table summarizes stock option activity for the nine months ended September 30, 2022: ($ in thousands, except share and per share data) Stock Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2021 1,376,937 $ 7.61 9.5 $ 676 Granted 953,725 4.42 Exercised ( 13,373 ) 0.45 Forfeited ( 230,583 ) 5.69 Expired — — Outstanding at September 30, 2022 (1) 2,086,706 $ 6.41 9.1 $ 322 Exercisable at September 30, 2022 424,179 $ 7.37 8.6 $ 114 _____________________________________ (1) Includes both vested stock options as well as unvested stock options for which the requisite service period has not been rendered but that are expected to vest based on achievement of a service condition. The fair value of options that vested during the nine months end ed September 30, 2022 was approximately $ 1.4 million. As of September 30, 2022, there was approximately $ 6.2 million of unrecognized stock-based compensation expense related to unvested stock options, which the Company expects to recognize over a weighted average period of 3.0 years. Restricted Stock Awards In connection with the closing of the SPAC Merger, all unvested restricted stock awards outstanding immediately prior to the SPAC Effective Time became fully vested, resulting in the recognition of less than $ 0.1 million in stock-based compensation expense in the third quarter of 2021. Additionally, pursuant to the provisions of the SPAC Merger Agreement, the Company issued 72,546 Earnout RSUs during the fourth quarter of 2021, of which 71,522 remain outstanding and unvested at September 30, 2022, representing holders of Old Renovacor Options aggregate Per Share Earnout Consideration (as defined in the SPAC Merger Agreement) in respect of such shares of Old Renovacor Options . See Note 3 for details. Restricted Stock Unit Activity The following table summarizes restricted stock unit activity for the nine months ended September 30, 2022: Time-based Awards Market-based Awards ($ in thousands, except per share data) Number of Shares Weighted-Average Number of Shares Weighted-Average Nonvested shares at December 31, 2021 — $ — 72,546 $ 6.42 Granted 163,350 6.45 — — Forfeited — — ( 1,024 ) 6.42 Vested — — — — Nonvested shares at September 30, 2022 163,350 $ 6.45 71,522 $ 6.42 As of September 3 0, 2022, there was $ 0.9 million of unrecognized compensation cost related to the time-based awards and $ 0.4 million of unrecognized compensation cost related to the market-based awards, which is expected to be recognized over a weighted average period of 3.3 and 5.25 years, respective ly.

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Parties	Note 12. Related Parties Sponsor Ownership Jonas Grossman, a member of the Company's board of directors since 2018, is a managing member of Chardan Capital Markets, LLC ("Chardan CM"), an affiliate of the Sponsor. Additionally, Gbola Amusa, a member of the Company's board of directors since June 2018, is a partner of Chardan CM. As of September 30, 2022, the Sponsor held (i) 500,000 shares of the Company's common stock being held in escrow and subject to vesting or forfeiture based on satisfaction of the earnout milestones set forth in the Sponsor Support Agreement, and (ii) 3,500,000 warrants exercisable to purchase one share of the Company's common stock at an exercise price of $ 11.50 . In February 2022, Chardan Healthcare, an affiliate of the Sponsor, distributed 250,000 shares of the Company's stock for no consideration to certain of its members and employees representing each individual's pro-rata contributions to Chardan Healthcare, including 40,000 shares each to Messrs. Grossman and Amusa. In April 2022, Chardan Investments 2, LLC, an affiliate of the Sponsor, distributed 1,605,661 shares of the Company's stock for no consideration to certain of its members representing each individual's pro-rata contributions to Chardan Investments 2, LLC, including 354,657 shares to Mr. Grossman and 238,588 shares to Mr. Amusa. Convertible Note On July 20, 2021, in accordance with the SPAC Merger Agreement and the Note Purchase Agreement, Old Renovacor issued a $ 2.5 million Convertible Promissory Note in exchange for $ 2.5 million in cash to be used to finance Old Renovacor’s operations through the consummation of the Merger. In connection with the consummation of the Merger, the total principal of $ 2.5 million converted automatically into shares of the Company’s common stock, at a price per share equal to $ 10.00 . All accrued and unpaid interest was cash settled following the Closing Date. PIPE Investment (Private Placement) Concurrently with the execution of the SPAC Merger Agreement, the Company entered into Subscription Agreements with the PIPE Investors, including Chardan Healthcare Investments, LLC, an affiliate of the Sponsor, certain stockholders of Old Renovacor and certain other institutional and accredited investors, pursuant to which, on September 2, 2021, in connection with the consummation of the Business Combination, the PIPE Investors purchased an aggregate of 2,284,776 shares of the Company's common stock and the Pre-Funded Warrant to purchase 715,224 shares of the Company's Common Stock, as more fully described in Note 3. Agreements with Dr. Arthur Feldman In August 2019, Old Renovacor entered into a consulting agreement (the "Feldman Consulting Agreement") with its founder and 5 % or greater stockholder, Dr. Arthur Feldman, pursuant to which Dr. Feldman agreed to perform certain consulting services for Old Renovacor in exchange for a consulting fee of $ 8,333 per calendar month. The Feldman Consulting Agreement has a term of three years , subject to automatic renewal for successive one-year terms unless earlier terminated. The Company amended the Feldman Consulting Agreement on September 2, 2021, to appoint Dr. Feldman as the Company's Chief Scientific Advisor. The Company incurred consulting fees with Dr. Arthur Feldman, the founder and prior director Old Renovacor, of less than $ 0.1 million during the three and nine months ended September 30, 2022 and 2021. As of September 30, 2022, no amounts were due to Dr. Feldman. Agreements with Temple Dr. Arthur Feldman, the Company's founder, 5 % or greater stockholder and current Chief Scientific Advisor, is an employee of T emple. During the three months ended September 30, 2022 and 2021, the Company recorded research and development expenses of approximately $ 0.4 million and $ 0.5 million, respectively, related to the Temple SRA. During the nine months ended September 30, 2022 and 2021, the Company recorded research and development expenses of approximately $ 0.8 million and $ 0.7 million, respec tively, related to the Temple SRA. See Note 8 for further information on the Temple SRA.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	Note 13. Net Loss Per Share Basic net income (loss) per share of common stock is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period, which includes the shares underlying the outstanding Pre-Funded Warrant, as such warrant is exercisable, in whole or in part, for nominal cash consideration with no expiration date. Shares of common stock outstanding but subject to forfeiture and cancellation by the Company (e.g., Sponsor Earnout Shares – see Note 3) are excluded from the weighted-average number of shares until the period in which such shares are no longer subject to forfeiture. The Company uses the two-class method to compute net income (loss) per common share during periods the Company realizes net income and has securities outstanding (Sponsor Earnout Shares) that entitle the holders to participate in cash dividends and earnings of the Company. Under this method, earnings are allocated to common stock and participating securities based on their respective rights to receive dividends, as if all undistributed earnings for the period were distributed. The holders of the Sponsor Earnout Shares, which are subject to forfeiture, are entitled to receive nonforfeitable cash dividends during the Earnout Periods on a basis equivalent to the dividend paid to holders of common stock, and therefore, these unvested shares subject to forfeiture and cancellation meet the definition of participating securities. For all periods presented, two-class method was not applicable. Diluted net loss per share of common stock includes the effect, if any, from the potential exercise or conversion of securities, such as stock options, Public Warrants and Private Placement Warrants, and Sponsor Earnout Shares and Old Renovacor Earnout Shares, which would result in the issuance of incremental shares of common stock, unless their effect would be anti-dilutive. For all periods presented, diluted net loss per common share applicable to common stockholders was the same as basic net loss per common share applicable to common stockholders as the effects of the Company’s potential common stock equivalents are antidilutive. Total antidilutive securities excluded from the calculation of diluted net loss per share for the three and nine months ended September 30, 2022 and 2021, were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Stock options 2,086,706 1,114,131 2,086,706 1,114,131 Restricted stock units 234,872 — 234,872 — Common stock warrants 12,122,644 12,122,644 12,122,644 12,122,644 Earnout shares 2,422,816 2,495,362 2,422,816 2,495,362 Total 16,867,038 15,732,137 16,867,038 15,732,137

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial reporting. Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for complete financial statements as certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These condensed consolidated statements are unaudited and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments and accruals) necessary to fairly present the results of the interim periods. The results of operations and cash flows for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ended December 31, 2022 or any other future period.
Reverse Recapitalization	Reverse Recapitalization The SPAC Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP (the “Reverse Recapitalization”). Under this method of accounting, the Company is treated as the “acquired” company and Old Renovacor is treated as the acquirer for financial reporting purposes. As a result, the consolidated assets, liabilities and results of operations prior to the SPAC Business Combination are those of Old Renovacor. Additionally, the shares and corresponding capital amounts and losses per share, prior to the SPAC Business Combination, have been retroactively restated based on shares reflecting the applicable exchange ratio resulting from the Common Per Share Merger Consideration and/or the Preferred Per Share Merger Consideration (each as defined by the SPAC Merger Agreement).
Emerging Growth Company Status	Emerging Growth Company Status The Company is an "emerging growth company", as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, the Company may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expense, and related disclosures. The Company bases estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. The Company evaluates its estimates and assumptions on an ongoing basis. Estimates relied upon in preparing these financial statements relate to, but are not limited to, the fair value of financial instruments, stock-based compensation assumptions and accrued expenses (including accrued and prepaid clinical costs). Actual results may differ from these estimates under different assumptions or conditions.
Financial Instruments	Financial Instruments The fair value of the Company’s financial instruments is determined and disclosed in accordance with the three-tier fair value hierarchy specified in Note 4, Fair Value Measurements . The Company is required to disclose the estimated fair values of its financial instruments. As of September 30, 2022 and December 31, 2021, the Company’s financial instruments consisted of cash equivalents, receivables, a note payable, and warrant and share earnout liabilities. As of September 30, 2022, the Company did not have any other derivatives, hedging instruments or other similar financial instruments.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that subject the Company to significant concentrations of credit risk consist primarily of cash primarily held at one financial institution, which, at times, may exceed federally insured limits, and cash equivalents consisting of investments in money market funds managed by a variety of financial institutions. The Company's credit risk is managed by investing in only highly rated money market instruments. As a result, no significant additional credit risk is believed by management to be inherent in the Company’s assets and the Company has not experienced any losses in such accounts and believes it is not exposed to any significant risk on such accounts .
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of 90 days or less when purchased to be “cash equivalents.” Cash and cash equivalents at September 30, 2022 consisted of cash and money market funds.
Property and Equipment, net	Property and Equipment, net Property and equipment is carried at acquisition cost less accumulated depreciation and amortization, subject to review for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable in accordance with ASC 360-10-35, Impairment or Disposal of Long-Lived Assets. The cost of normal, recurring, or periodic repairs and maintenance activities related to property and equipment, if any, are expensed as incurred. The cost for planned major maintenance activities, including the related acquisition or construction of assets, is capitalized if the repair will result in future economic benefits. Depreciation and amortization are computed using the straight-line method based on the estimated useful lives of the related assets. Equipment and other long-lived assets are depreciated over three to five years . Leasehold improvements are amortized over the remaining lease term or the related useful life, if shorter. When an asset is disposed of, the associated cost and accumulated depreciation or amortization is removed from the related accounts on the Company's balance sheet with any resulting gain or loss included in the Company's condensed consolidated statement of operations
Operating Lease Right-of-use Assets and Lease Liabilities	Operating Lease Right-of-use Assets and Lease Liabilities The Company accounts for leases under ASC 842, Leases ("ASC 842"). The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to, and the agreement creates enforceable rights and obligations. Under ASC 842, a contract is or contains a lease when (i) explicitly or implicitly identified assets have been deployed in the contract and (ii) the customer obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. The Company also considers whether its service arrangements include the right to control the use of an asset. Operating leases are included in “Operating lease right-of-use assets” within the Company’s balance sheets and represent the Company’s right to use an underlying asset for the lease term. The Company’s related obligation to make lease payments are included in “Operating lease liability” and “Operating lease liability, net of current portion” within the Company’s balance sheets. Operating lease right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As none of the Company’s leases provide an implicit rate, the Company uses its incremental borrowing rates, which are the rates incurred to borrow on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The ROU assets are tested for impairment according to ASC 360, Property, Plant, and Equipment (“ASC 360”). Leases with an initial term of 12 months or less are not recorded on the balance sheet and are recognized as lease expense on a straight-line basis over the lease term. As of September 30, 2022, the Company’s operating lease ROU assets and corresponding short-term and long-term lease liabilities primarily relate to its Cambridge, Massachusetts facility operating lease, as more fully described in Note 8.
Other Current Liability	Other Current Liability In September 2022, the Company entered into a short-term financing arrangement with a third-party vendor to finance insurance premiums. The aggregate amount financed under this agreement was $ 1.0 million. As of September 30, 2022, the balance of $ 1.0 million, which is included in “Other current liability’ in the Company’s balance sheets, is scheduled to be paid in monthly installments through May 2023.
Warrant Liability	Warrant Liability The Company accounts for stock warrants as either equity instruments, liabilities or derivative liabilities in accordance with ASC Topic 480, Distinguishing Liabilities from Equity ("ASC 480") and/or ASC Topic 815, Derivatives and Hedging ("ASC 815"), depending on the specific terms of the warrant agreement. Liability-classified warrants are recorded at their estimated fair values at each reporting period until they are exercised, terminated, reclassified or otherwise settled. Changes in the estimated fair value of liability-classified warrants are recorded in Change in Fair Value of Warrant Liability in the Company’s condensed consolidated statements of operations. Equity-classified warrants are recorded within additional paid-in capital at the time of issuance and not subject to remeasurement.
Share Earnout Liability	Share Earnout Liability The Company accounts for share earnout arrangements that represent equity-linked instruments as either liabilities or equity instruments in accordance with ASC 815, unless such arrangements are within the scope of ASC Topic 718, Compensation–Stock Compensation ("ASC 718"), depending on the specific terms of the contract. Contracts classified as liabilities are recorded at their estimated fair values at each reporting period until they are no longer outstanding. Changes in the estimated fair value of liability-classified share earnout arrangements are recorded in Change in Fair Value of Share Earnout Liability in the Company’s condensed consolidated statements of operations.
Research and Development Expense	Research and Development Expense The Company expenses research and development expenses as incurred. The Company’s research and development expenses consist primarily of personnel-related expenses such as salaries, stock-based compensation, and benefits, and external costs of outside vendors engaged to conduct preclinical development activities, including manufacturing of preclinical and clinical drug supply. The Company accrues for expenses related to development activities performed by third parties based on an evaluation of services received and efforts expended pursuant to the terms of the contractual arrangements. There may be instances in which payments made to the Company’s vendors will exceed the level of services provided and result in a prepayment of expenses. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual or prepaid expense accordingly .
Stock-Based Compensation	Stock-Based Compensation The Company expenses stock-based compensation to employees and non-employees over the requisite service period, generally the vesting period, based on the estimated grant-date fair value of the awards. The Company accounts for forfeitures as they occur. Stock-based awards with graded-vesting schedules are recognized on a straight-line basis over the requisite service period for each separately vesting portion of the award. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model, and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. All stock-based compensation costs are recorded in general and administrative or research and development costs in the condensed consolidated statements of operations based upon the underlying individual’s role at the Company.
Income Taxes	Income Taxes In accordance with ASC 270, Interim Reporting , and ASC 740, Income Taxes , the Company is required at the end of each interim period to determine the best estimate of its annual effective tax rate and then apply that rate in providing for income taxes on a current year-to-date (interim period) basis. For the three and nine months ended September 30, 2022 and 2021, the Company recorded no tax expense or benefit due to the expected current year loss and its historical losses. The Company has no t recorded its net deferred tax asset as of either September 30, 2022 or December 31, 2021 because it maintained a full valuation allowance against all deferred tax assets as of these dates as management has determined that it is not more likely than not that the Company will realize these future tax benefits. As of September 30, 2022 and December 31, 2021, the Company had no uncertain tax positions.
Net Loss per Share of Common Stock	Net Loss per Share of Common Stock Basic and diluted net loss per share of common stock is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during each period, which includes shares of common stock underlying the Pre-funded Warrant (as defined herein), as such warrant is exercisable, in whole or in part, for nominal cash consideration with no expiration date. Shares of common stock outstanding but subject to forfeiture and cancellation by the Company (e.g., Sponsor Earnout Shares, as defined in the SPAC Merger Agreement) are excluded from the weighted-average shares until the period in which such shares are no longer subject to forfeiture. The diluted net loss per share calculation gives effect to, if any, the potential exercise or conversion of securities, such as stock options, Public Warrants and Private Placement Warrants, and Sponsor Earnout Shares and Old Renovacor Earnout Shares (each as defined herein), which would result in the issuance of incremental shares of common stock, unless their effect would be anti-dilutive. See Note 13 for additional details.
New Accounting Pronouncements	New Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB and rules are issued by the SEC that the Company has or will adopt as of a specified date. Unless otherwise noted, management does not believe that any other recently issued accounting pronouncements issued by the FASB or guidance issued by the SEC had, or is expected to have, a material impact on the Company’s present or future consolidated financial statements. Accounting Pronouncements Recently Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) ("ASU 2016-02"). ASU 2016-02 (amended by ASU 2019-10 and ASU 2020-05) is effective for non-public entities and emerging growth companies for fiscal years beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. The new standard establishes a ROU model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the statement of operations. A modified retrospective transition approach is required at the beginning of the earliest comparative per iod presented in the financial statements, with certain practical expedients available. The Company adopted this standard effective January 1, 2022 . The adoption did no t have a material impact on the Company’s consolidated condensed financial statements as of the adoption date. However, in the second quarter of 2022, the Company entered into two real estate leases which resulted in the recognition of the required right-of use asset and corresponding lease liability for such lease obligations. See Note 8 for additional details. Should the Company enter into new or amend its current leases in the future, the carrying values of the Company's right-of use assets and lease liabilities could be materially impacted.

Merger and Recapitalization (Ta

Merger and Recapitalization (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Summary of Earnout Shares	The Old Renovacor Earnout Shares and Sponsor Earnout Shares (collectively, the "Earnout Shares") are summarized, as set forth in the table below: Old Renovacor Sponsor Target Price Earnout Shares Earnout Shares Total December 31, 2023 $ 17.50 576,845 150,000 726,845 December 31, 2025 $ 25.00 576,845 150,000 726,845 December 31, 2027 $ 35.00 769,126 200,000 969,126 1,922,816 500,000 2,422,816
Summary of Elements of Net Proceeds From SPAC Merger	The following table summarizes the elements of the net proceeds from the SPAC Merger as of September 30, 2022: (In thousands) Amount Cash – CHAQ trust and cash, net of redemptions $ 65,127 Cash – PIPE financing 29,993 Less: CHAQ and Old Renovacor transaction costs paid ( 5,828 ) Less: Settlement of convertible note at closing ( 2,500 ) Effect of SPAC Merger, net of redemptions and transaction costs $ 86,792
Summary of Number of Shares Common Stock Issued Immediately Following Consummation of SPAC Merger	The following table details the number of shares of common stock issued immediately following the consummation of the SPAC Merger: Number of Shares Common stock, outstanding prior to SPAC Merger 8,622,644 Less: redemption of CHAQ shares ( 2,112,100 ) Common stock of CHAQ 6,510,544 CHAQ Founder shares 2,155,661 Shares issued in PIPE Financing 2,284,776 Merger and PIPE financing shares - common stock 10,950,981 Shares issued to Old Renovacor - common stock (1) 6,305,061 Total shares of common stock immediately after SPAC Merger (2) 17,256,042 ____________________ (1) The number of shares of common stock issued to Old Renovacor equityholders was determined based on (i) 1,987,636 shares of Old Renovacor Common Stock outstanding immediately prior to the closing of the SPAC Merger converted based on the Common Per Share Merger Consideration (as defined in the SPAC Merger Agreement) and (ii) 2,578,518 shares of Old Renovacor Preferred Stock outstanding immediately prior to the closing of the SPAC Merger converted based on the Preferred Per Share Merger Consideration (as defined in the SPAC Merger Agreement). All fractional shares were rounded down. (2) Includes 500,000 shares of common stock being held in escrow and subject to vesting or forfeiture based on satisfaction of the Earnout Milestones set forth in the Sponsor Support Agreement. Such shares are liability classified and included in the Share earnout liability as of September 30, 2022 and December 31, 2021.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Schedule of Liabilities Measured at Fair Value on Recurring Basis	The table below presents the liabilities measured and recorded in the financial statements at fair value on a recurring basis at September 30, 2022 and December 31, 2021 categorized by the level of inputs used in the valuation of each asset and liability. September 30, 2022 (In thousands) Total Level 1 Level 2 Level 3 Assets Cash equivalents – money market funds $ 52,724 $ 52,724 $ — $ — Total assets $ 52,724 $ 52,724 $ — $ — Liabilities Warrant liability $ 1,369 $ — $ — $ 1,369 Share earnout liability 4,967 — — 4,967 Total liabilities $ 6,336 $ — $ — $ 6,336 December 31, 2021 (In thousands) Total Level 1 Level 2 Level 3 Assets Cash equivalents – money market funds $ 77,792 $ 77,792 $ — $ — Total assets $ 77,792 $ 77,792 $ — $ — Liabilities Warrant liability $ 11,165 $ — $ — $ 11,165 Share earnout liability 12,256 — — 12,256 Total liabilities $ 23,421 $ — $ — $ 23,421
Schedule of Warrant and Earnout Share Liability Measured on Recurring Basis Using Unobservable Inputs	The reconciliation of the Company's warrant and earnout share liability measured at fair value on a recurring basis using unobservable inputs (Level 3) is as follows: Warrant Earnout Share (In thousands) Liability Liability Balance, December 31, 2021 $ 11,165 $ 12,256 Change in the fair value of liability ( 9,796 ) ( 7,289 ) Balance, September 30, 2022 $ 1,369 $ 4,967
Private Placement Warrants [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Schedule of Assumptions Used in Determining Fair Value of Private Placement Warrants and Earnout Shares	The fair value of the Private Placement Warrants has been estimated with the following assumptions: September 30, December 31, 2022 2021 Stock price $ 2.52 $ 7.70 Strike price $ 11.50 $ 11.50 Expected volatility 80.0 % 75.0 % Risk-free interest rate 4.29 % 1.01 % Expected dividend yield — — Expected life (years) 2.56 3.31 Fair value per warrant $ 0.39 $ 3.19
Earnout Shares [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Schedule of Assumptions Used in Determining Fair Value of Private Placement Warrants and Earnout Shares	The fair value of the Earnout Shares has been estimated with the following assumptions: September 30, December 31, 2022 2021 Stock price $ 2.52 $ 7.70 Probability of Change in Control 75.0 % 7.5 % Expected volatility 80.0 % 75.0 % Risk-free interest rate 4.05 % 1.35 % Expected dividend yield — — Expected life (years) 5.25 6.00 Fair value per share $ 2.05 $ 5.06

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following: September 30, December 31, ($ in thousands) 2022 2021 Laboratory equipment $ 1,319 $ 380 Leasehold improvements 178 — Total property and equipment, at cost 1,497 380 Less: accumulated depreciation and amortization ( 56 ) ( 1 ) Property and equipment, net $ 1,441 $ 379

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following: September 30, December 31, ($ in thousands) 2022 2021 Research and development costs $ 310 $ 209 Insurance 1,277 1,369 Other 354 185 Total prepaid expenses and other current assets $ 1,941 $ 1,763

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following: September 30, December 31, ($ in thousands) 2022 2021 Employee compensation and benefits $ 1,986 $ 1,282 External research and development expenses 1,133 409 Property and equipment 26 360 Merger-related costs 450 — Professional fees 162 347 Other 188 100 Total accrued expenses $ 3,945 $ 2,498

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Reconciliation to the Lease Liabilities	Future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities recognized on the balance sheet as of September 30, 2022 is as follows: ($ in thousand) Operating Leases Remainder of 2022 $ 63 2023 254 2024 76 2025 16 2026 17 Thereafter 124 Total lease payments $ 550 Less: imputed interest ( 44 ) Total present value of lease liabilities $ 506
Schedule of Operating Lease Liabilities	The following table sets forth information pertaining to the Company's operating lease liabilities as of September 30, 2022: September 30, 2022 Weighted-average remaining lease term (in years): Operating leases 4.28 Weighted-average discount rate: Operating leases 3.02 %

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Summary of Outstanding Warrants to Purchase Shares of Common Stock	The following table summarizes outstanding warrants to purchase shares of the Company’s common stock as of September 30, 2022 and December 31, 2021: Number of Warrants September 30, December 31, Weighted-Average 2022 2021 Exercise Price Expiration Date Liability-classified Warrants April 2020 Private Placement Warrants 3,500,000 3,500,000 $ 11.50 4/23/2025 3,500,000 3,500,000 Equity-classified Warrants April 2020 Public Warrants (1) 8,622,644 8,622,644 $ 11.50 9/2/2026 September 2021 Pre-Funded Warrants (2) 715,224 715,224 $ 0.01 — 9,337,868 9,337,868 Total outstanding 12,837,868 12,837,868 ——————— (1) Public Warrants assumed in the SPAC Merger. Each warrant share is exercisable for one-half share of common stock, provided, however, each warrant must be exercised in multiples of two. (2) Pre-Funded Warrant issued in connection with PIPE Investment (Note 3). Each warrant share is exercisable indefinitely for one share of common stock.
Schedule of Common Stock Shares Reserved for Future Issuance	As of September 30, 2022, the Company reserved the following shares of common stock for future issuance: Amount Shares issuable upon exercise of pre-funded warrants outstanding 715,224 Shares issuable upon exercise of warrants outstanding 7,811,322 Shares issuable upon issuance of contingent consideration (Earnout Shares and Earnout RSUs) 1,994,338 Shares issuable upon exercise of outstanding stock options 2,086,706 Shares issuable upon vesting of time-based restricted stock units 163,350 Shares reserved for future issuance under 2021 Incentive Plan 866,190 Total 13,637,130

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	Total stock-based compensation expense attributable to stock-based payments made to employees, consultants and directors included in operating expenses in the Company's condensed consolidated statements of operations for the three and nine months ended September 30, 2022 and 2021 was as follows: Three months ended Nine Months Ended September 30, September 30, ($ in thousands) 2022 2021 2022 2021 Research and development $ 320 $ 364 $ 993 $ 543 General and administrative 262 154 822 167 Total stock-based compensation expense $ 582 $ 518 $ 1,815 $ 710
Schedule of Assumptions Used in Determining the Fair Value of Option Awards	The following table provides the weighted-average assumptions used in determining the fair value of option awards to purchase 953,725 and 1,041,004 shares of common stock granted during the nine months ended September 30, 2022 and 2021, respectively: Nine months ended September 30, 2022 2021 Expected volatility 77.0 % 77.7 % Risk-free interest rate 2.37 % 0.92 % Expected dividend yield — — Expected term (years) 6.03 5.95
Summary of Stock Option Activity	The following table summarizes stock option activity for the nine months ended September 30, 2022: ($ in thousands, except share and per share data) Stock Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2021 1,376,937 $ 7.61 9.5 $ 676 Granted 953,725 4.42 Exercised ( 13,373 ) 0.45 Forfeited ( 230,583 ) 5.69 Expired — — Outstanding at September 30, 2022 (1) 2,086,706 $ 6.41 9.1 $ 322 Exercisable at September 30, 2022 424,179 $ 7.37 8.6 $ 114
Summary of Restricted Stock Unit Activity	The following table summarizes restricted stock unit activity for the nine months ended September 30, 2022: Time-based Awards Market-based Awards ($ in thousands, except per share data) Number of Shares Weighted-Average Number of Shares Weighted-Average Nonvested shares at December 31, 2021 — $ — 72,546 $ 6.42 Granted 163,350 6.45 — — Forfeited — — ( 1,024 ) 6.42 Vested — — — — Nonvested shares at September 30, 2022 163,350 $ 6.45 71,522 $ 6.42

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Potentially Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share	excluded from the calculation of diluted net loss per share for the three and nine months ended September 30, 2022 and 2021, were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Stock options 2,086,706 1,114,131 2,086,706 1,114,131 Restricted stock units 234,872 — 234,872 — Common stock warrants 12,122,644 12,122,644 12,122,644 12,122,644 Earnout shares 2,422,816 2,495,362 2,422,816 2,495,362 Total 16,867,038 15,732,137 16,867,038 15,732,137

Business and Organization - Add

Business and Organization - Additional Information (Details) $ / shares in Units, $ in Thousands	Sep. 30, 2022 USD ($) $ / shares	Sep. 19, 2022 $ / shares	Dec. 31, 2021 USD ($) $ / shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, par value	$ 0.0001		$ 0.0001
Accumulated deficit | $	$ 31,655		$ 18,998	[1]
Cash and cash equivalents | $	$ 53,713		$ 78,790	[1]
Rocket Merger Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares exchange ratio		0.1676
Rocket Merger Agreement [Member] | Renovacor [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, par value		$ 0.0001
Percentage of outstanding shares	9.40%	4.10%
Rocket Merger Agreement [Member] | Rocket [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, par value		$ 0.01
Percentage of outstanding shares	35%
[1] The condensed balance sheet at December 31, 2021 has been derived from the audited financial statements at that date.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Significant Accounting Policies Table [Line Items]
Tax expense or benefit due to expected current year loss and its historical losses	$ 0	$ 0
Net deferred tax asset	0		$ 0
Uncertain tax positions	0		$ 0
Other current liability	$ 1,019,000
Accounting Standards Update 2016-02 [Member]
Significant Accounting Policies Table [Line Items]
Accounting standards update, adopted [true false]	true
Accounting standards update, adoption date	Jan. 01, 2022
Accounting standards update, immaterial effect	true
Equipment and Other Long-lived Assets [Member] | Minimum [Member]
Significant Accounting Policies Table [Line Items]
Useful life	3 years
Equipment and Other Long-lived Assets [Member] | Maximum [Member]
Significant Accounting Policies Table [Line Items]
Useful life	5 years

Merger and Recapitalization - A

Merger and Recapitalization - Additional Information (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) TradingDay $ / shares shares	Dec. 31, 2021 $ / shares
Business Acquisition [Line Items]
Common stock, par value | $ / shares	$ 0.0001	$ 0.0001
Preferred stock, par value | $ / shares	$ 0.0001	$ 0.0001
Sponsor Support Agreement [Member]
Business Acquisition [Line Items]
Sponsor shares placed into escrow subject to forfeiture | shares	500,000
PIPE Investors [Member]
Business Acquisition [Line Items]
Number of shares issue and sell to investors (in Shares) | shares	2,284,776
Share price (in Dollars per share) | $ / shares	$ 10
Gross proceeds from issuance of shares to investors | $	$ 30,000
Initial purchase price per share (in Dollars per share) | $ / shares	$ 9.99
Pre-Funded Warrants [Member]
Business Acquisition [Line Items]
Number of shares issue and sell to investors (in Shares) | shares	715,224
Warrants exercise price (in Dollars per share) | $ / shares	$ 0.01
Percentage of beneficial ownership limitation	9.99%
Pre-Funded Warrants [Member] | Maximum [Member]
Business Acquisition [Line Items]
Percentage of beneficial ownership limitation	19.99%
First Earnout Period [Member]
Business Acquisition [Line Items]
Earn out period end date	Dec. 31, 2023
Second Earnout Period [Member]
Business Acquisition [Line Items]
Earn out period end date	Dec. 31, 2025
Third Earnout Period [Member]
Business Acquisition [Line Items]
Earn out period end date	Dec. 31, 2027
Old Renovacor [Member]
Business Acquisition [Line Items]
Goodwill | $	$ 0
Old Renovacor [Member] | Earnout Shares [Member]
Business Acquisition [Line Items]
Maximum number of additional shares entitled to receive | shares	1,922,816
Old Renovacor [Member] | First Earnout Period [Member]
Business Acquisition [Line Items]
Maximum number of additional shares entitled to receive | shares	576,845
Earn out period end date	Dec. 31, 2023
Price per share | $ / shares	$ 17.50
Number of trading days | TradingDay	20
Number of consecutive trading days | TradingDay	30
Old Renovacor [Member] | Second Earnout Period [Member]
Business Acquisition [Line Items]
Maximum number of additional shares entitled to receive | shares	576,845
Earn out period end date	Dec. 31, 2025
Price per share | $ / shares	$ 25
Number of trading days | TradingDay	20
Number of consecutive trading days | TradingDay	30
Old Renovacor [Member] | Third Earnout Period [Member]
Business Acquisition [Line Items]
Maximum number of additional shares entitled to receive | shares	769,126
Earn out period end date	Dec. 31, 2027
Price per share | $ / shares	$ 35
Number of trading days | TradingDay	20
Number of consecutive trading days | TradingDay	30
Old Renovacor [Member] | Common Stock [Member]
Business Acquisition [Line Items]
Shares issued | shares	6,305,061
Common stock, par value | $ / shares	$ 0.0001
Exchanged options issued | shares	194,926

Merger and Recapitalization - S

Merger and Recapitalization - Summary of Earnout Shares (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Targeted Or Tracking Stock Stock [Line Items]
Earnout shares	2,422,816
Sponsor [Member]
Targeted Or Tracking Stock Stock [Line Items]
Earnout shares	500,000
Old Renovacor [Member]
Targeted Or Tracking Stock Stock [Line Items]
Earnout shares	1,922,816
First Earnout Period [Member]
Targeted Or Tracking Stock Stock [Line Items]
Earn out period end date	Dec. 31, 2023
Target price | $ / shares	$ 17.50
Earnout shares	726,845
First Earnout Period [Member] | Sponsor [Member]
Targeted Or Tracking Stock Stock [Line Items]
Earnout shares	150,000
First Earnout Period [Member] | Old Renovacor [Member]
Targeted Or Tracking Stock Stock [Line Items]
Earn out period end date	Dec. 31, 2023
Earnout shares	576,845
Second Earnout Period [Member]
Targeted Or Tracking Stock Stock [Line Items]
Earn out period end date	Dec. 31, 2025
Target price | $ / shares	$ 25
Earnout shares	726,845
Second Earnout Period [Member] | Sponsor [Member]
Targeted Or Tracking Stock Stock [Line Items]
Earnout shares	150,000
Second Earnout Period [Member] | Old Renovacor [Member]
Targeted Or Tracking Stock Stock [Line Items]
Earn out period end date	Dec. 31, 2025
Earnout shares	576,845
Third Earnout Period [Member]
Targeted Or Tracking Stock Stock [Line Items]
Earn out period end date	Dec. 31, 2027
Target price | $ / shares	$ 35
Earnout shares	969,126
Third Earnout Period [Member] | Sponsor [Member]
Targeted Or Tracking Stock Stock [Line Items]
Earnout shares	200,000
Third Earnout Period [Member] | Old Renovacor [Member]
Targeted Or Tracking Stock Stock [Line Items]
Earn out period end date	Dec. 31, 2027
Earnout shares	769,126

Merger and Recapitalization -_2

Merger and Recapitalization - Summary of Elements of Net Proceeds From Merger (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Business Acquisition [Line Items]
Less: Settlement of convertible note at closing	$ (2,500)
Effect of SPAC Merger, net of redemptions and transaction costs	86,792
CHAQ [Member]
Business Acquisition [Line Items]
Cash – net of redemptions	65,127
PIPE Investment [Member]
Business Acquisition [Line Items]
Cash – net of redemptions	29,993
CHAQ and Old Renovacor [Member]
Business Acquisition [Line Items]
Less: transaction costs paid	$ (5,828)

Merger and Recapitalization -_3

Merger and Recapitalization - Summary of Number of Shares Common Stock Issued Immediately Following Consummation of Merger (Details) - shares	Sep. 30, 2022	Dec. 31, 2021	Sep. 01, 2021
Business Acquisition [Line Items]
Common stock, outstanding	16,769,415	16,756,042	1,987,636
Common stock, shares issued	16,769,415	16,756,042	1,987,636
Total shares of common stock immediately after SPAC Merger	17,256,042
CHAQ [Member]
Business Acquisition [Line Items]
Common stock, outstanding prior to SPAC Merger	8,622,644
Less: redemption of CHAQ shares	(2,112,100)
Common stock, outstanding	6,510,544
CHAQ Founder shares	2,155,661
PIPE Investment [Member]
Business Acquisition [Line Items]
Shares issued	2,284,776
Old Renovacor [Member]
Business Acquisition [Line Items]
Common stock, outstanding prior to SPAC Merger	1,987,636
Common stock, shares issued	6,305,061
Merger and PIPE Financing [Member]
Business Acquisition [Line Items]
Common stock, outstanding	10,950,981

Merger and Recapitalization -_4

Merger and Recapitalization - Summary of Number of Shares Common Stock Issued Immediately Following Consummation of Merger (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2022 shares
Sponsor Support Agreement [Member]
Business Acquisition [Line Items]
Common stock held in escrow and subject to vesting or forfeiture	500,000
Old Renovacor [Member]
Business Acquisition [Line Items]
Preferred stock outstanding prior to Merger	2,578,518
Common stock outstanding prior to Merger	1,987,636

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets
Asset fair value	$ 52,724	$ 77,792
Liabilities
Liabilities fair value	6,336	23,421
Level 1 [Member]
Assets
Asset fair value	52,724	77,792
Level 3 [Member]
Liabilities
Liabilities fair value	6,336	23,421
Warrant Liability [Member]
Liabilities
Liabilities fair value	1,369	11,165
Warrant Liability [Member] | Level 3 [Member]
Liabilities
Liabilities fair value	1,369	11,165
Share Earnout Liability [Member]
Liabilities
Liabilities fair value	4,967	12,256
Share Earnout Liability [Member] | Level 3 [Member]
Liabilities
Liabilities fair value	4,967	12,256
Money Market Funds [Member]
Assets
Asset fair value	52,724	77,792
Money Market Funds [Member] | Level 1 [Member]
Assets
Asset fair value	$ 52,724	$ 77,792

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Warrant and Earnout Share Liability Measured on Recurring Basis Using Unobservable Input (Details) - Level 3 [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Warrant Liability [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Balance	$ 11,165
Change in the fair value of liability	(9,796)
Balance	1,369
Earnout Share Liability [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Balance	12,256
Change in the fair value of liability	(7,289)
Balance	$ 4,967

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Assumptions Used in Determining Fair Value of Private Placement Warrants (Details) - Private Placement Warrants [Member]	9 Months Ended	12 Months Ended
	Sep. 30, 2022 $ / shares	Dec. 31, 2021 $ / shares
Stock Price [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	2.52	7.70
Strike Price [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	11.50	11.50
Expected Volatility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	0.800	0.750
Risk-Free Interest Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	0.0429	0.0101
Expected Life (Years) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative, Term of Contract	2 years 6 months 21 days	3 years 3 months 21 days
Fair Value Per Warrant [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	0.39	3.19

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Assumptions Used in Determining Fair Value of Earnout Shares (Details) - Earnout Shares [Member]	9 Months Ended	12 Months Ended
	Sep. 30, 2022 $ / shares	Dec. 31, 2021 $ / shares
Stock Price [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	2.52	7.70
Probability of Change in Control [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	0.750	0.075
Expected Volatility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	0.800	0.750
Risk-Free Interest Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	0.0405	0.0135
Expected Life (Years) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative, Term of Contract	5 years 3 months	6 years
Fair Value Per Share [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	2.05	5.06

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Laboratory equipment	$ 1,319	$ 380
Leasehold improvements	178
Total property and equipment, at cost	1,497	380
Less: accumulated depreciation and amortization	(56)	(1)
Property and equipment, net	$ 1,441	$ 379	[1]
[1] The condensed balance sheet at December 31, 2021 has been derived from the audited financial statements at that date.

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Research and development costs	$ 310	$ 209
Insurance	1,277	1,369
Other	354	185
Total prepaid expenses and other current assets	$ 1,941	$ 1,763	[1]
[1] The condensed balance sheet at December 31, 2021 has been derived from the audited financial statements at that date.

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 1,986	$ 1,282
External research and development expenses	1,133	409
Property and equipment	26	360
Merger-related costs	450
Professional fees	162	347
Other	188	100
Total accrued expenses	$ 3,945	$ 2,498	[1]
[1] The condensed balance sheet at December 31, 2021 has been derived from the audited financial statements at that date.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 19, 2022
Lessee, Lease, Description [Line Items]
Operating leases term	10 years 3 months 18 days	10 years 3 months 18 days
Operating Lease, Existence of Option to Extend [true false]		true
Operating Lease, Option to Extend		options to extend
Future lease payments not recorded on balance sheets	$ 5,000,000	$ 5,000,000
Operating Lease, Existence of Option to Terminate [true false]		true
Operating Lease, Option to Terminate		right to terminate
Rent expense	100,000	$ 100,000	$ 0
Rocket [Member]
Lessee, Lease, Description [Line Items]
Contingent financial advisor fee payable	$ 2,000,000	$ 2,000,000
Wells Fargo Securities
Lessee, Lease, Description [Line Items]
Financial Advisor Fee				$ 3,000,000
Wells Fargo Securities | Rocket [Member]
Lessee, Lease, Description [Line Items]
Financial Advisor Fee				$ 1,000,000
Maximum
Lessee, Lease, Description [Line Items]
Operating leases term	10 years 3 months 18 days	10 years 3 months 18 days
Minimum
Lessee, Lease, Description [Line Items]
Operating leases term	2 years	2 years

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Reconciliation to the Lease Liabilities (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Operating Lease, Liability [Abstract]
Remainder of 2022	$ 63
2023	254
2024	76
2025	16
2026	17
Thereafter	124
Total lease payments	550
Less: imputed interest	(44)
Operating Lease, Liability	$ 506

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Operating Lease Liabilities (Details)	Sep. 30, 2022
Operating Lease, Liability [Abstract]
Operating leases, Weighted-average remaining lease term	4 years 3 months 10 days
Operating leases, Weighted-average discount rate	3.02%

License and Sponsored Researc_2

License and Sponsored Research Agreements - Additional Information (Details) - USD ($)		1 Months Ended			3 Months Ended		9 Months Ended
	Jul. 01, 2021	Sep. 30, 2022	Nov. 30, 2020	Aug. 31, 2019	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Research And Development Arrangement Contract To Perform For Others [Line Items]
Research and development expenses					$ 7,423,000	$ 2,925,000	$ 19,642,000	$ 7,413,000
Temple License Agreement [Member]
Research And Development Arrangement Contract To Perform For Others [Line Items]
Agreement effective date				Aug. 12, 2019
Assignment fees				$ 100,000
Development regulatory and commercial milestone payment				$ 1,250,000
Royalty percentage				50%
Agreement expiration description							The Temple License Agreement will remain effective until (i) the expiration date of the last-to-expire patents covered under the License Agreement (currently expected to occur in 2041); (ii) the termination by Temple upon (a) an uncured breach by the Company, with a 60-day notification period, (b) the Company’s filing of a voluntary petition in bankruptcy or related proceeding, providing such petition is not dismissed within 90 days after the filing thereof, (c) a failure by the Company to meet certain milestones set forth in the Licensed Agreement, or (d) non-payment of undisputed monies due to Temple, with a 30-day notification period. Additionally, the Company may terminate the entire agreement or with respect to an individual patent or patent application, if desired, subject a 90-day notification period.
Preclinical term	3 years
Sponsored research agreement fund	$ 900,000
Sponsored research agreement fund, net	$ 5,300,000
Sponsor research agreement funded and/or incurred from inception		$ 2,200,000			2,200,000		$ 2,200,000
Research and development expenses					400,000	$ 500,000	800,000	$ 700,000
Temple License Agreement [Member] | Minimum [Member]
Research And Development Arrangement Contract To Perform For Others [Line Items]
Annual administrative fee				$ 20,000
Temple License Agreement [Member] | Common Stock [Member]
Research And Development Arrangement Contract To Perform For Others [Line Items]
Common stock, shares issued				97,879
Additional shares issued upon closing of Series A convertible preferred stock			9,130
Utah License Agreement [Member]
Research And Development Arrangement Contract To Perform For Others [Line Items]
Preclinical term		5 years
Sponsored research agreement fund		$ 3,500,000			3,500,000		3,500,000
Research and development expenses					$ 200,000		$ 200,000

Stockholder's Equity - Addition

Stockholder's Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		9 Months Ended
	Sep. 01, 2021	Sep. 30, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Common stock, shares authorized	6,000,000	100,000,000	100,000,000
Common stock, par value		$ 0.0001	$ 0.0001
Common stock, shares issued	1,987,636	16,769,415	16,756,042
Common stock, shares outstanding	1,987,636	16,769,415	16,756,042
Preferred stock, shares authorized		1,000,000	1,000,000
Preferred stock, par value		$ 0.0001	$ 0.0001
Number of voting rights		no
Public Warrants [Member]
Class Of Stock [Line Items]
Number of warrants outstanding	8,622,644
Exercise price	$ 11.50
Warrant price per share	0.01
Warrant or Right, Reason for Issuance, Description		The Company may redeem the Public Warrants:•in whole and not in part;•at a price of $0.01 per Public Warrant;•at any time during the exercise period;•upon a minimum of 30 days’ prior written notice of redemption;•if, and only if, the last sale price of the Company’s common stock equals or exceeds $16.00 per share for any 10 trading days within a 30-trading day period ending on the third business day prior to the date on which the Company sends the notice of redemption to the warrant holders; and•if, and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such Public Warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption.
Redemption written notice period		30 days
Common stock exceeds price per share	$ 16
Private Placement Warrants [Member]
Class Of Stock [Line Items]
Number of warrants outstanding	3,500,000
Exercise price	$ 11.50
Warrant exercisable term		5 years
Series A Redeemable Convertible Preferred Stock [Member]
Class Of Stock [Line Items]
Temporary equity, authorized	3,333,283
Temporary equity, par value	$ 0.0001
Temporary equity, issued	2,578,518
Temporary equity, outstanding	2,578,518
Temporary equity shares issued price per share	$ 4.065063
Price per share	$ 12.20
Proceeds from initial public offer	$ 60
Temporary Equity Conversion Into Permanent Equity Conversion Price Per	$ 4.065063

Stockholder's Equity - Summary

Stockholder's Equity - Summary of Outstanding Warrants to Purchase Shares of Common Stock (Details) - $ / shares		Sep. 30, 2022	Dec. 31, 2021
Class of Warrant Or Right [Line Items]
Number of Warrants Outstanding		12,837,868	12,837,868
Liability Classified Warrants [Member]
Class of Warrant Or Right [Line Items]
Number of Warrants Outstanding		3,500,000	3,500,000
Liability Classified Warrants [Member] | April 2020 Private Placement Warrants [Member]
Class of Warrant Or Right [Line Items]
Number of Warrants Outstanding		3,500,000	3,500,000
Weighted-Average Exercise Price		$ 11.50
Expiration Date		Apr. 23, 2025
Equity Classified Warrants [Member]
Class of Warrant Or Right [Line Items]
Number of Warrants Outstanding		9,337,868	9,337,868
Equity Classified Warrants [Member] | April 2020 Public Warrants [Member]
Class of Warrant Or Right [Line Items]
Number of Warrants Outstanding	[1]	8,622,644	8,622,644
Weighted-Average Exercise Price	[1]	$ 11.50
Expiration Date	[1]	Sep. 02, 2026
Equity Classified Warrants [Member] | September 2021 Pre-Funded Warrants [Member]
Class of Warrant Or Right [Line Items]
Number of Warrants Outstanding	[2]	715,224	715,224
Weighted-Average Exercise Price	[2]	$ 0.01
[1] Public Warrants assumed in the SPAC Merger. Each warrant share is exercisable for one-half share of common stock, provided, however, each warrant must be exercised in multiples of two. Pre-Funded Warrant issued in connection with PIPE Investment (Note 3). Each warrant share is exercisable indefinitely for one share of common stock.

Stockholder's Equity - Schedule

Stockholder's Equity - Schedule of Common Stock Shares Reserved for Future Issuance (Details)	Sep. 30, 2022 shares
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance	13,637,130
Pre-Funded Warrants [Member]
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance	715,224
Warrants [Member]
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance	7,811,322
Earnout Shares [Member]
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance	1,994,338
Stock Options Outstanding [Member]
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance	2,086,706
Time-based Restricted Stock Units [Member]
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance	163,350
2021 Incentive Plan [Member]
Class Of Stock [Line Items]
Common stock, capital shares reserved for future issuance	866,190

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2022		Dec. 31, 2021	Sep. 30, 2021	Sep. 30, 2022		Sep. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average fair value of options granted					$ 2.99		$ 5.22
Fair value of options, vested in period					$ 1,400
Stock-based compensation expense	$ 582			$ 518	$ 1,815		$ 710
2018 Stock Option and Grant Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized for issuance	1,118,869				1,118,869
2018 Stock Option and Grant Plan [Member] | SPAC Merger [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exchanged options issued					194,926
Purchase price per share					$ 5.66
2021 Omnibus Incentive Plan [Member] | SPAC Merger [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized for issuance	3,008,803				3,008,803
Percentage of outstanding shares					4%
Number of shares, options outstanding	1,907,741				1,907,741
Remain available for future issuance	866,190				866,190
Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares purchased for issuance under share-based payment arrangement					953,725		1,041,004
Earnout RSU [Member] | SPAC Merger [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, RSUs outstanding	71,522				71,522
Committed share issuance			72,546
Earnout RSU [Member] | 2021 Omnibus Incentive Plan [Member] | SPAC Merger [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, RSUs outstanding	71,522				71,522
Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, options outstanding	2,086,706	[1]	1,376,937		2,086,706	[1]
Options granted					953,725
Unrecognized stock-based expense	$ 6,200				$ 6,200
Vesting period					3 years
Restricted Stock [Member] | Maximum [Member] | SPAC Merger [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense				$ 100
Restricted Stock Units [Member] | 2021 Omnibus Incentive Plan [Member] | SPAC Merger [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, RSUs outstanding	234,872				234,872
Time-based Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, RSUs outstanding	163,350				163,350
Unrecognized stock-based expense	$ 900				$ 900
Unrecognized compensation cost, weighted average expected to be recognized period					3 years 3 months 18 days
Market-based Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, RSUs outstanding	71,522		72,546		71,522
Unrecognized stock-based expense	$ 400				$ 400
Unrecognized compensation cost, weighted average expected to be recognized period					5 years 3 months
[1] Includes both vested stock options as well as unvested stock options for which the requisite service period has not been rendered but that are expected to vest based on achievement of a service condition.

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 582	$ 518	$ 1,815	$ 710
Research and Development [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	320	364	993	543
General and Administrative [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 262	$ 154	$ 822	$ 167

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Assumptions Used in Determining the Fair Value of Option Awards (Details) - Stock Options [Member]	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	77%	77.70%
Risk-free interest rate	2.37%	0.92%
Expected dividend yield	0%	0%
Expected term (years)	6 years 10 days	5 years 11 months 12 days

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Stock Option Activity (Details) - Stock Options [Member] $ / shares in Units, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares		Dec. 31, 2021 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options Outstanding, Beginning balance | shares	1,376,937
Stock Options, Granted | shares	953,725
Stock Options, Exercised | shares	(13,373)
Stock Options, Forfeited | shares	(230,583)
Stock Options Outstanding, Ending Balance | shares	2,086,706	[1]	1,376,937
Stock Options, Exercisable | shares	424,179
Weighted-Average Exercise Price, Outstanding | $ / shares	$ 7.61
Weighted-Average Exercise Price, Granted | $ / shares	4.42
Weighted-Average Exercise Price, Exercised | $ / shares	0.45
Weighted-Average Exercise Price, Forfeited | $ / shares	5.69
Weighted-Average Exercise Price, Outstanding, Ending Balance | $ / shares	6.41	[1]	$ 7.61
Weighted-Average Exercise Price, Exercisable | $ / shares	$ 7.37
Weighted-Average Remaining Contractual Life, Outstanding	9 years 1 month 6 days	[1]	9 years 6 months
Weighted-Average Remaining Contractual Life, Exercisable	8 years 7 months 6 days
Aggregate Intrinsic Value, Outstanding | $	$ 322	[1]	$ 676
Aggregate Intrinsic Value, Exercisable | $	$ 114
[1] Includes both vested stock options as well as unvested stock options for which the requisite service period has not been rendered but that are expected to vest based on achievement of a service condition.

Stock-based Compensation - Su_2

Stock-based Compensation - Summary of Restricted Stock Unit Activity (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Time-based Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Granted | shares	163,350
Number of shares, Nonvested, Ending Balance | shares	163,350
Weighted-Average Grant Date Fair Value, Granted | $ / shares	$ 6.45
Weighted-Average Grant Date Fair Value, Nonvested Shares, Ending Balance | $ / shares	$ 6.45
Market-based Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Nonvested, Beginning Balance | shares	72,546
Number of shares, Forfeited | shares	(1,024)
Number of shares, Nonvested, Ending Balance | shares	71,522
Weighted-Average Grant Date Fair Value, Nonvested Shares, Beginning Balance | $ / shares	$ 6.42
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares	6.42
Weighted-Average Grant Date Fair Value, Nonvested Shares, Ending Balance | $ / shares	$ 6.42

Related Parties - Additional In

Related Parties - Additional Information (Details) - USD ($)			1 Months Ended			3 Months Ended		9 Months Ended
	Sep. 02, 2021	Jul. 20, 2021	Apr. 30, 2022	Feb. 28, 2022	Aug. 31, 2019	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Sep. 01, 2021
Related Party Transaction [Line Items]
Common stock, shares outstanding						16,769,415		16,769,415		16,756,042	1,987,636
Proceeds from convertible debt									$ 2,445,000
Research and development						$ 7,423,000	$ 2,925,000	$ 19,642,000	7,413,000
Temple License Agreement [Member]
Related Party Transaction [Line Items]
Minimum percentage of ownership held by Founder								5%
Research and development						400,000	500,000	$ 800,000	700,000
Feldman Consulting Agreement [Member]
Related Party Transaction [Line Items]
Minimum percentage of ownership held by Founder					5%
Consulting fee amount per calendar month					$ 8,333
Long term service commitment period					3 years
Service commitment renewal term					1 year
Consulting Fees						100,000	$ 100,000	100,000	$ 100,000
Due to related party						$ 0		$ 0
Merger Agreement and Note Purchase Agreement [Member] | Convertible Promissory Note [Member]
Related Party Transaction [Line Items]
Issued amount		$ 2,500,000
Proceeds from convertible debt		$ 2,500,000
Conversion price per share		$ 10
Private Placement [Member] | Merger Agreement [Member]
Related Party Transaction [Line Items]
Common stock purchased	2,284,776
Pre - funded warrants to purchase common stock	715,224
Sponsor Ownership [Member]
Related Party Transaction [Line Items]
Common stock, shares outstanding						500,000		500,000
Number of warrants outstanding						3,500,000		3,500,000
Exercise price						$ 11.50		$ 11.50
Chardan Healthcare Investments LLC [Member]
Related Party Transaction [Line Items]
Number of shares distributed to members and employees			1,605,661	250,000
Amusa [Member]
Related Party Transaction [Line Items]
Number of shares distributed to related parties			238,588	40,000
Grossman [Member]
Related Party Transaction [Line Items]
Number of shares distributed to related parties			354,657

Net loss Per Share - Schedule o

Net loss Per Share - Schedule of Potentially Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive Securities	16,867,038	15,732,137	16,867,038	15,732,137
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive Securities	2,086,706	1,114,131	2,086,706	1,114,131
Restricted Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive Securities	234,872		234,872
Common Stock Warrants [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive Securities	12,122,644	12,122,644	12,122,644	12,122,644
Earnout Shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive Securities	2,422,816	2,495,362	2,422,816	2,495,362