PaxMedica, Inc. Common Stock (PXMD) 10-K 29 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 29, 2023	Jun. 30, 2022
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-41475
Entity Registrant Name	PaxMedica, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-0870387
Entity Address, Address Line One	303 South Broadway
Entity Address, Address Line Two	Suite 125
Entity Address, City or Town	Tarrytown
Entity Address State Or Province	NY
Entity Address, Postal Zip Code	10591
City Area Code	914
Local Phone Number	987-2876
Title of 12(b) Security	Common Stock, Par Value $0.0001 Per Share
Trading Symbol	PXMD
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		13,555,392
Entity Central Index Key	0001811623
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Auditor Firm ID	688
Auditor Name	Marcum LLP
Auditor Location	New York, NY

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash	$ 1,901,887	$ 444,087
Prepaid and other current assets	302,431
Total current assets	2,204,318	444,087
Deferred offering costs		204,779
Total assets	2,204,318	648,866
Current liabilities
Accounts payable	721,955	736,251
Accounts payable - related party	20,000	750
Accrued expenses	1,019,071	680,026
Notes payable - fair value	173,543
SAFE liability		4,824,217
Warrant liability	0	4,516,485
Shares settled liability	160,949
Total current liabilities	2,095,518	10,757,729
Total liabilities	2,095,518	10,757,729
Commitments and contingencies
Stockholders' Equity (Deficit)
Common stock, par value $0.0001; 200,000,000 shares authorized at December 31, 2022 and 20,000,000 shares authorized at December 31, 2021; 12,035,592 and 6,913,492 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively	1,204	691
Additional paid-in capital	33,847,607	8,828,425
Accumulated deficit	(33,740,016)	(18,938,249)
Total stockholders' equity (deficit)	108,800	(10,108,863)
Total liabilities, and stockholders' equity (deficit)	2,204,318	648,866
Series Seed
Stockholders' Equity (Deficit)
Preferred stock		$ 270
Series X Preferred Stock
Stockholders' Equity (Deficit)
Preferred stock	$ 5

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($)	Aug. 26, 2022	Dec. 31, 2021
Preferred shares, par value (in dollars per share)		$ 0.0001
Preferred shares, shares authorized (in shares)		10,000,000
Common stock, par value (in dollars per share)		$ 0.0001
Common stock, shares authorized (in shares)		20,000,000
Common stock, shares issued (in shares)		6,913,492
Common stock, shares outstanding (in shares)		6,913,492
Series Seed preferred shares
Preferred shares, shares authorized (in shares)		2,696,439
Preferred shares, shares issued (in shares)		2,696,439
Preferred shares, shares outstanding (in shares)		2,696,439
Preferred shares, aggregate liquidation preference		$ 2,808,148
Series X Preferred Stock
Preferred shares, shares issued (in shares)		0
Preferred shares, shares outstanding (in shares)	45,567	0

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating expenses
General and administrative	$ 8,816,940	$ 4,973,245
Research and development	1,787,488	2,224,555
Total operating expenses	10,604,428	7,197,800
Loss from operations	(10,604,428)	(7,197,800)
Other income (expense):
Interest expense	(5,237)	(2,805,856)
Gain on conversion of notes		59,890
Loss on conversion of SAFE	(5,338,808)
Loss on issuance of debt	(391,246)
Loss on extinguishment of debt	(161,563)
Other income (expense)	(64,500)	(2,430)
Total other expense	(4,197,339)	(3,031,171)
Net loss	$ (14,801,767)	$ (10,228,971)
Basic weighted average number of shares outstanding	8,741,678	6,666,005
Diluted weighted average number of shares outstanding	8,741,678	6,666,005
Basic net income (loss) per share	$ (1.69)	$ (1.53)
Diluted net income (loss) per share	$ (1.69)	$ (1.53)
Convertible Notes
Other income (expense):
Change in fair value	$ (272,202)
SAFE Liability
Other income (expense):
Loss on conversion of SAFE	(5,300,000)
Change in fair value	163,025	$ 175,783
Warrant Liability
Other income (expense):
Change in fair value	$ 1,873,192	$ (458,558)

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Deficit) - USD ($)	Preferred Stock Series Seed preferred shares	Preferred Stock Series X Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Beginning balance at Dec. 31, 2020	$ 270		$ 578	$ 4,079,891	$ (8,709,278)	$ (4,628,539)
Beginning balance (in shares) at Dec. 31, 2020	2,696,439		5,775,898
Increase (Decrease) in Stockholders' Equity (Deficit)
Common stock issued in connection with conversion of notes payable			$ 113	3,412,669		3,412,782
Common stock issued in connection with conversion of notes payable (in shares)			1,137,594
Stock-based compensation				1,335,865		1,335,865
Net loss					(10,228,971)	(10,228,971)
Ending balance at Dec. 31, 2021	$ 270		$ 691	8,828,425	(18,938,249)	(10,108,863)
Ending balance (in shares) at Dec. 31, 2021	2,696,439		6,913,492
Increase (Decrease) in Stockholders' Equity (Deficit)
Issuance of common stock for commitment fee in connection with equity purchase agreement			$ 20	(20)
Issuance of common stock for commitment fee in connection with equity purchase agreement (in shares)			198,974
Issuance of common stock for consulting services			$ 6	99,994		100,000
Issuance of common stock for consulting services (in shares)			57,143
Issuance of Series X preferred stock, net of fees		$ 1		299,999		300,000
Issuance of Series X preferred stock, net of fees (in shares)		3,200
Conversion of SAFE liability to Series X preferred stock		$ 10		9,999,990		10,000,000
Conversion of SAFE liability to Series X preferred stock (in shares)		100,000
Issuance of common stock and warrants, net of fees			$ 154	6,022,859		6,023,013
Issuance of common stock and warrants, net of fees (in shares)			1,545,454
Common stock issued in connection with conversion of notes payable			$ 24	1,159,476		1,159,500
Common stock issued in connection with conversion of notes payable (in shares)			238,094
Issuance of Series X preferred stock in connection with conversion of notes payable				327,993		327,993
Issuance of Series X preferred stock in connection with conversion of notes payable (in shares)		2,806
Conversion of Series Seed preferred stock to common stock	$ (270)		$ 156	114
Conversion of Series Seed preferred stock to common stock (in shares)	(2,696,439)		1,557,435
Conversion of Series X preferred stock to common stock		$ (6)	$ 118	(112)
Conversion of Series X preferred stock to common stock (in shares)		(61,689)	1,175,000
Warrants exchanged for shares of common stock and Series X preferred stock			$ 35	2,009,172		2,009,207
Warrants exchanged for shares of common stock and Series X preferred stock (in shares)		1,250	350,000
Reclassification of warrants to equity				912,580		912,580
Costs incurred in connection with equity purchase agreement				(230,997)		(230,997)
Stock-based compensation				4,418,134		4,418,134
Net loss					(14,801,767)	(14,801,767)
Ending balance at Dec. 31, 2022		$ 5	$ 1,204	$ 33,847,607	$ (33,740,016)	$ 108,800
Ending balance (in shares) at Dec. 31, 2022		45,567	12,035,592

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net loss	$ (14,801,767)	$ (10,228,971)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	4,418,134	1,335,865
Issuance of common stock for consulting services	100,000
Amortization of debt discount		2,550,780
Change in fair value of notes	272,202
Change in fair value of SAFE	(163,025)	(175,783)
Loss on conversion of SAFE	5,338,808
Loss on issuance of debt	391,246
Loss on extinguishment of debt	161,563
Gain on conversion of notes		(59,890)
Change in fair value warrant liability	(1,873,192)	458,558
Other expense	34,500
Non-cash interest expense		255,076
Changes in assets and liabilities:
Other current assets	(302,431)
Accounts payable	94,914	352,277
Accounts payable - related party	19,250	(102,053)
Accrued expenses	238,615	101,502
Net cash used in operating activities	(6,071,183)	(5,512,639)
Cash flows from financing activities
Proceeds from issuance of common stock and warrants, net of fees	6,023,013
Proceeds from issuance of convertible promissory notes, net of fees	1,240,970
Proceeds from issuance of Series X preferred stock, net of fees	300,000
Proceeds from SAFE investment		5,000,000
Payment of costs incurred in connection with equity purchase agreement	(35,000)
Payment of deferred offering costs		(166,899)
Net cash provided by financing activities	7,528,983	4,833,101
Net increase (decrease) in cash	1,457,800	(679,538)
Cash, beginning of year	444,087	1,123,625
Cash, end of year	1,901,887	444,087
Non-cash financing activities:
Series X preferred stock issued in connection with conversion of notes payable	327,993
Common stock issued in connection with conversion of notes payable	1,159,500	3,412,782
Conversion of SAFE liability to Series X preferred stock	10,000,000
Warrants exchanged for shares of common stock and Series X preferred stock	2,009,207
Reclassification of warrants to equity	912,580
Shares settled liability	160,949
Unpaid costs for equity purchase agreement	$ 195,997
Unpaid deferred offering costs and financing fees		$ 37,880

Organization and description of

Organization and description of business operations	12 Months Ended
	Dec. 31, 2022
Organization and description of business operations
Organization and description of business operations	Note 1. Organization and Description of Business Operations PaxMedica, Inc. (Formerly Purinix Pharmaceuticals LLC) (the “Company”) is a clinical stage biopharmaceutical company organized as a Delaware limited liability company on April 5, 2018 (“Inception”) to focus on the development of drug candidates for the treatment of autism spectrum disorder (ASD), Fragile X syndrome tremor-ataxia (FXTAS) and Human African Trypanosomiasis (HAT). Initial Public Offering On August 9, 2022, the Company entered into an underwriting agreement relating to the public offering of its common stock, par value $0.0001 per share. The Company agreed to sell 1,545,454 shares of its common stock to the underwriters, at a purchase price per share of $4.83 (the offering price to the public of $5.25 per share minus the underwriters’ discount), pursuant to the Company’s registration statement on Form S-1 (File No. 333-239676), as amended, under the Securities Act of 1933, that was filed by the Company under Rule 462(b) under the Securities Act. The Company also granted the underwriters a 45-day option to purchase up to 231,818 additional shares of common stock to cover over-allotments. On August 30, 2022, the Company received net proceeds from its public offering of approximately $6.0 million, net of underwriter fees and commissions of approximately $0.8 million, and offering costs of approximately $1.4 million. In connection with its public offering the Company issued 108,181 warrants to purchase shares of the Company’s common stock with an exercise price of $6.5625 per share.

Going Concern, Liquidity and Ca

Going Concern, Liquidity and Capital Resources	12 Months Ended
	Dec. 31, 2022
Going Concern, Liquidity and Capital Resources
Going Concern, Liquidity and Capital Resources	Note 2. Going Concern, Liquidity and Capital Resources The Company has no product revenues, incurred operating losses since inception, and expects to continue to incur significant operating losses for the foreseeable future and may never become profitable. The Company had working capital of $0.1 million, an accumulated deficit of approximately $33.7 million at December 31, 2022, a net loss of approximately $14.8 million, and approximately $6.1 million of net cash used in operating activities for the year ended December 31, 2022. Equity Purchase Agreement with Lincoln Park Capital Fund, LLC ​ On November 17, 2022, the Company entered into an equity purchase agreement (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“LPC”) which provided that, upon the terms and subject to the conditions and limitations set forth therein, the Company could sell to LPC, at its discretion, up to $20.0 million of shares of its common stock over the 30 -month term of the Purchase Agreement (See ). ​ Convertible Promissory Note ​ Subsequent to December 31, 2022, the Company issued a convertible promissory note (the “2023 Note”) with a principal balance of $3.7 million. The Company received proceeds of approximately $2.5 million, net of expenses and other costs. The 2023 Note bears no interest and matures 18 months from the issuance date. In connection with the 2023 Note, the Company issued a common stock warrant to purchase 800,000 shares of the Company’s common stock and paid a $112,000 commitment fee to the investor (See Note 7). ​ 2022 Notes During the second and third quarters of 2022, the Company entered into senior secured convertible promissory notes (the “2022 Notes”) with a principal balance totaling approximately $1.5 million. The 2022 Notes contain an original issue discount totaling $0.3 million and the Company received net proceeds of approximately $1.2 million (See Note 7). Series X Preferred Stock On August 2, 2022, the Company issued 3,200 shares of Series X preferred stock, par value $0.0001 per share at a purchase price of $100 per share. The Company received net proceeds of approximately $0.3 million, net of fees. (See Note 9). Going Concern The accompanying financial statements have been prepared assuming the Company will continue to operate as a going concern, which contemplates the realization of assets and settlement of liabilities in the normal course of business, and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from uncertainty related to its ability to continue as a going concern. The Company’s future liquidity and capital funding requirements will depend on numerous factors, including: ● its ability to raise additional funds to finance its operations; ● the outcome, costs and timing of clinical trial results for the Company’s current or future product candidates; ● the emergence and effect of competing or complementary products; ● its ability to maintain, expand and defend the scope of its intellectual property portfolio, including the amount and timing of any payments the Company may be required to make, or that it may receive, in connection with the licensing, filing, prosecution, defense and enforcement of any patents or other intellectual property rights; ● its ability to retain its current employees and the need and ability to hire additional management and scientific and medical personnel; and ● the terms and timing of any collaborative, licensing or other arrangements that it has or may establish. The Company will likely need to raise substantial additional funds through one or more of the following: issuance of additional debt or equity, or the completion of a licensing transaction for one or more of the Company’s pipeline assets. If the Company is unable to maintain sufficient financial resources, its business, financial condition and results of operations will be materially and adversely affected. This could affect future development and business activities and potential future clinical studies and/or other future ventures. Failure to obtain additional equity or debt financing will have a material, adverse impact on the Company’s business operations. There can be no assurance that the Company will be able to obtain the needed financing on acceptable terms or at all. Additionally, equity or debt financings will likely have a dilutive effect on the holdings of the Company’s existing stockholders. Accordingly, there are material risks and uncertainties that raise substantial doubt about the Company’s ability to continue as a going concern for the next twelve months from the issuance of these financial statements. The accompanying financial statements do not include any adjustments that result from the outcome of these uncertainties. The COVID-19 global pandemic has been unprecedented and unpredictable, is likely to continue to result in significant national and global economic disruption, which may adversely affect our business. Based on the Company’s current assessment, the Company does not expect any material impact on its long-term development timeline and its liquidity due to the worldwide spread of the COVID-19 virus. However, the Company is continuing to assess the effect on its operations by monitoring the spread of COVID-19 and the resulting global pandemic and the actions implemented to combat the virus throughout the world.

Significant accounting policies

Significant accounting policies	12 Months Ended
	Dec. 31, 2022
Significant accounting policies
Significant accounting policies	Note 3. Significant Accounting Policies Basis of Presentation The Company’s financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and include all adjustments necessary for the fair presentation of its balance sheets, results of operations and cash flows for the period presented. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The most significant estimates in the Company’s financial statements relate to the valuation of warrants, valuation of the 2022 Notes, valuation of the SAFE liability and valuation of equity-based awards. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected. Cash, Cash Equivalents and Short-Term Investments The Company considers all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. As of December 31, 2022 and 2021, the Company had no cash equivalents or short-term investments. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash. The Company maintains its cash high credit quality financial institutions, which may at times, be in excess of federal insured limits. The Company believes it is not exposed to any significant losses due to credit risk on cash. Risks and Uncertainties The Company operates in a dynamic and highly competitive industry and is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, protection of proprietary technology, dependence on key personnel, contract manufacturer and contract research organizations, compliance with government regulations and the need to obtain additional financing to fund operations. Product candidates currently under development will require significant additional research and development efforts, including extensive preclinical studies and clinical trials and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel infrastructure and extensive compliance and reporting. The Company believes that changes in any of the following areas could have a material adverse effect on the Company’s future financial position, results of operations, or cash flows; ability to obtain future financing; advances and trends in new technologies and industry standards; results of clinical trials; regulatory approval and market acceptance of the Company’s products; development of sales channels; certain strategic relationships; litigation or claims against the Company based on intellectual property, patent, product, regulatory, or other factors; and the Company’s ability to attract and retain employees necessary to support its growth. Fair Value of Financial Instruments The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 820 (“ASC 820”), Fair Value Measurements. This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 - assets and liabilities whose significant value drivers are unobservable. Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment. During the year ended December 31, 2022, the Company issued certain of the 2022 Notes and warrants in connection with the 2022 Notes. The 2022 Notes and warrants were classified as liabilities and measured at fair value on the issuance date, with changes in fair value recognized as other income (expense) on the statements of operations and disclosed in the financial statements During the year ended December 31, 2021, the Company entered into its SAFE agreement and classified the SAFE as a liability measured at cost on the issuance date, with changes in fair value recognized as other income on the statement of operations. The carrying amounts of the Company’s financial assets and liabilities, such as accounts payable, approximate fair value due to the short-term nature of these instruments. Convertible Notes In accordance with Accounting Standards Codification 825, Financial Instruments Warrant Liability The Company accounts for certain common stock warrants outstanding as a liability at fair value and adjusts the instruments to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s statements of operations. The fair value of the warrants issued by the Company have been estimated using the Monte Carlo simulation. As of December 31, 2022, there are no warrant liabilities (See Note 4). Simple Agreement for Future Equity The Company accounts for a SAFE as a liability at fair value and adjusts the instrument to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until a triggering event, equity financing or a liquidity/dissolution occurs, and any change in fair value is recognized in the Company’s statements of operations. The fair value of the SAFE has been estimated using the Backsolve method which utilizes the Option Pricing Method. As of December 31, 2022, the SAFE liability has been converted to 100,000 shares of Series X preferred stock (See Note 9). Research and Development Research and development costs are expensed as incurred. Advance payments for goods and services that will be used in future research and development activities are expensed when the activity has been performed or when the goods have been received. Accrued Outsourcing Costs Substantial portions of the Company’s preclinical studies and clinical trials are performed by third-party laboratories, medical centers, contract research organizations and other vendors (collectively “CROs”). These CROs generally bill monthly or quarterly for services performed, or bill based upon milestone achievement. For preclinical studies, the Company accrues expenses based upon estimated percentage of work completed and the contract milestones remaining. Clinical trial costs are a significant component of research and development expenses and include costs associated with third-party contractors. The Company outsources a substantial portion of its clinical trial activities, utilizing external entities such as CROs, independent clinical investigators, and other third-party service providers to assist the Company with the execution of its clinical studies. For each clinical trial that the Company conducts, certain clinical trial costs are expensed immediately, while others are expensed over time based on the number of patients in the trial, the attrition rate at which patients leave the trial, and/or the period over which clinical investigators or CROs are expected to provide services. The Company’s estimates depend on the timeliness and accuracy of the data provided by the CROs regarding the status of each program and total program spending. The Company periodically evaluates the estimates to determine if adjustments are necessary or appropriate based on information it receives. Stock-Based Compensation The Company expenses stock-based compensation to employees, non-employees and board members over the requisite service period based on the estimated grant-date fair value of the awards and actual forfeitures. 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 costs in the statements of operations. Loss Per Share Basic net loss per share (“EPS”) of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Since the Company has net losses, basic and diluted net loss per share is the same. Securities that could potentially dilute loss per share in the future were not included in the computation of diluted loss per share at December 31, 2022 and 2021, because their inclusion would be anti-dilutive are as follows: ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2022 2021 Preferred stock — 1,557,435 Series X preferred stock ​ 867,943 ​ — Unvested restricted stock units 1,877,582 — Common stock warrants 445,409 1,034,176 SAFE investment (1) — 414,808 Convertible notes 56,571 — Shares settled liability ​ 30,834 ​ — Total 3,278,340 3,006,419 (1) SAFE investment ​ As of December 31, 2021, the Company’s price per share of $12.05 was calculated by dividing the post money valuation of $150 million by 12,444,251 shares of common stock outstanding. The 12,444,251 shares of common stock outstanding was calculated in accord with the agreement and includes 6,913,492 of common shares outstanding, 2,703,776 of IPO shares, 1,377,999 of restricted stock units, 1,034,176 of common stock warrants and 414,808 of SAFE shares. The SAFE investment shares of 414,808 (included in the table above) were calculated using the SAFE investment of $5.0 million divided by $12.05 per share. Income Taxes ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s financial statements. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in material changes to its financial position. Recent Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. This ASU is effective for annual reporting periods beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. This update permits the use of either the modified retrospective or fully retrospective method of transition. The Company adopted this standard on January 1, 2022, and the adoption did not have a material impact on the Company’s financial statements or disclosures. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. This ASU provides guidance for a modification or an exchange of a freestanding equity-classified written call option that is not within the scope of another Topic. It specifically addresses: (1) how an entity should treat a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; (2) how an entity should measure the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; and (3) how an entity should recognize the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange. This ASU will be effective for all entities for fiscal years beginning after December 15, 2021. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. Early adoption is permitted, including adoption in an interim period. The Company adopted this standard on January 1, 2022, and the adoption did not have a material impact on the Company’s financial statements or disclosures.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Measurements
Fair Value Measurements	Note 4. Fair Value Measurements The following tables classify the Company’s liabilities measured at fair value on a recurring basis into the fair value hierarchy as of December 31, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measured at December 31, 2022 ​ ​ ​ ​ Quoted prices in active ​ Significant other ​ Significant ​ ​ Total carrying value at ​ markets ​ observable inputs ​ unobservable inputs ​ December 31, 2022 (Level 1) (Level 2) (Level 3) Liabilities: ​ ​ ​ ​ Convertible notes ​ $ 173,543 ​ $ — ​ $ — ​ $ 173,543 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measured at December 31, 2021 ​ ​ ​ ​ Quoted prices in active ​ Significant other ​ Significant ​ ​ Total carrying value at ​ markets ​ observable inputs ​ unobservable inputs ​ December 31, 2021 (Level 1) (Level 2) (Level 3) Liabilities: ​ ​ ​ ​ SAFE liability ​ $ 4,824,217 ​ $ — ​ $ — ​ $ 4,824,217 Warrant liability ​ $ 4,516,485 ​ $ — ​ $ — ​ $ 4,516,485 ​ During the year ended December 31, 2022, there was a change of approximately $1.8 million in Level 3 liabilities measured at fair value, respectively. The fair value of the convertible notes may change significantly as additional data is obtained, impacting the Company’s assumptions used to estimate the fair value of the liabilities. In evaluating this information, considerable judgment is required to interpret the data used to develop the assumptions and estimates. The estimates of fair value may not be indicative of the amounts that could be realized in a current market exchange. Accordingly, the use of different market assumptions and/or different valuation techniques may have a material effect on the estimated fair value amounts, and such changes could materially impact the Company’s results of operations in future periods. The following table presents changes in Level 3 liabilities measured at fair value for the year ended December 31, 2022 and 2021. Unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to unobservable (e.g., changes in unobservable long-dated volatilities) inputs. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Convertible Notes SAFE Liability Warrant Liability Balance at January 1, 2021 ​ $ — ​ $ — ​ $ 4,057,927 Issuance of SAFE ​ ​ — ​ ​ 5,000,000 ​ ​ — Change in fair value ​ ​ — ​ ​ (175,783) ​ ​ 458,558 Balance at December 31, 2021 ​ $ — ​ $ 4,824,217 ​ $ 4,516,485 Issuance of convertible notes and warrants ​ 1,353,720 ​ — ​ 278,494 Conversion of SAFE liability to Series X preferred stock ​ ​ — ​ (10,000,000) ​ — Issuance of common stock in connection with conversion of notes payable ​ ​ (1,159,500) ​ — ​ — Issuance of Series X preferred stock in connection with conversion of notes payable ​ ​ (327,993) ​ — ​ — Warrants exchanged for shares of common stock and Series X preferred stock ​ ​ — ​ — ​ (2,009,207) Loss on extinguishment of debt ​ ​ 161,563 ​ — ​ — Change in fair value ​ 272,202 ​ (163,025) ​ (1,873,192) Reclassification of warrants to equity ​ ​ — ​ — ​ (912,580) Loss on conversion of SAFE ​ ​ — ​ 5,338,808 ​ — Shares settled liability in connection with conversion of notes payable ​ ​ (126,449) ​ — ​ — Balance at December 31, 2022 ​ $ 173,543 ​ $ — ​ $ — ​ Convertible Notes During the second and third quarters of 2022, the Company issued the 2022 Notes. The Company elected the fair value option when recording its 2022 Notes (See Note 3) and the notes were classified as liabilities and measured at fair value on the issuance date, with changes in fair value recognized as other income (expense) on the statements of operations and disclosed in the financial statements. The fair value of the 2022 Notes on the issuance dates, conversion dates, and as of December 31, 2022 were estimated using a Monte Carlo simulation to capture the path dependencies intrinsic to their terms. The significant unobservable inputs used in the fair value measurement of the Company’s convertible notes are the common stock price, volatility, and risk-free interest rates. Significant changes in these inputs may result in significantly lower or higher fair value measurement. During the year ended December 31, 2022, two holders of the 2022 Notes converted their notes to 261,902 shares of the Company’s common stock and one holder of the 2022 Notes converted its note to 2,806 shares of Series X preferred stock (See Note 7). A summary of significant unobservable inputs (Level 3 inputs) used in measuring the 2022 Notes during the year ended December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2022 Dividend yield ​ 0 % Expected price volatility ​ 57%-57.2 % Risk free interest rate ​ 2.8%-4.76 % Expected term (in years) ​ 0.5-1.0 ​ ​ Simple Agreement for Future Equity On March 19, 2021, the Company entered into a SAFE agreement with an investor. At issuance date, the Company classified the cash received of $5.0 million as a liability, with changes in fair value recognized as other income (expense) on the statements of operations and disclosed in the financial statements (See Note 6). On August 2, 2022 the SAFE was converted to 100,000 shares of Series X preferred stock (See Note 9). A summary of significant unobservable inputs (Level 3 inputs) used in measuring the SAFE during the years ended December 31, 2022 and 2021 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Year Ended ​ ​ December 31, 2022 ​ December 31, 2021 ​ Dividend yield ​ 0 % 0 % Expected price volatility ​ 50.0 % 50.0 % Risk free interest rate ​ 1.35%-3.08 % 0.06%-0.07 % Expected term (in years) ​ 0.8-1.5 ​ 1.0-5.0 ​ ​ Warrants During the year ended December 31, 2022, the Company issued 195,140 common stock warrants in connection with its 2022 Notes (See Note 7). During the year ended December 31, 2020, the Company issued 1,034,176 common stock warrants in association with its 2020 convertible notes (the “2020 Notes”) issued during 2020. The warrants were classified as liabilities and measured at fair value on the grant date, with changes in fair value recognized as other income (expense) on the statements of operations and disclosed in the financial statements. On August 3, 2022, the Company entered into a warrant exchange agreement (the “Warrant Exchange Agreement”) with a holder of certain warrants to purchase the Company’s common stock. The warrants were issued in connection with the Company’s 2020 Notes. Pursuant to the Warrant Exchange Agreement, the Company exchanged 750,000 warrants for 350,000 shares of common stock and 1,250 shares of Series X preferred stock at the consummation of the Company’s initial public offering (See Note 9). On August 26, 2022, upon the consummation of the Company’s initial public offering, the remaining 479,316 liability classified warrants with a fair value of approximately $0.9 million were determined to be indexed to the Company’s common stock, and therefore were reclassified to equity. As of December 31, 2022, there are no liability classified warrants. A summary of significant unobservable inputs (Level 3 inputs) used in measuring warrants during the year ended December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2022 Dividend yield ​ - % Expected price volatility ​ 57.0%-105.0 % Risk free interest rate ​ 0.17%-3.40 % Expected term (in years) ​ 0.1-5.0 ​ ​ Significant changes in the expected price volatility and expected term would result in significantly lower or higher fair value measurement of the warrants, respectively.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2022
Accrued Expenses
Accrued Expenses	Note 5. Accrued Expenses The Company’s accrued expenses as of December 31, 2022 and 2021 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2022 ​ 2021 Employee and related expenses ​ $ 510,297 ​ $ 680,026 Directors and officers insurance ​ ​ 269,753 ​ ​ — Professional fees ​ ​ 162,021 ​ ​ — Research and development ​ ​ 77,000 ​ ​ — Total accrued expenses ​ $ 1,019,071 ​ $ 680,026 ​

Simple Agreement for Future Equ

Simple Agreement for Future Equity ("SAFE")	12 Months Ended
	Dec. 31, 2022
Simple Agreement for Future Equity ("SAFE").
Simple Agreement for Future Equity ("SAFE")	Note 6. Simple Agreement for Future Equity (“SAFE”) During the year ended December 31, 2021, the Company entered into a SAFE with an investor, and received proceeds of $5.0 million. Under the terms of the SAFE, the investor has the right to participate in future equity financings of the Company. The number of shares to be received by the SAFE investor was based on a 50% discount of the pricing in the triggering equity financing and includes a post money valuation cap of $150.0 million. In a liquidity or dissolution event, the investors right to receive cash out was junior to payment of outstanding indebtedness and creditor claims, on par for other SAFE agreements and/or preferred stock, and senior to payments for common stock. The SAFE had no interest rate or maturity date, the SAFE investor had no voting rights prior to conversion, and if the Company paid a dividend on outstanding shares of common stock while the SAFE was outstanding, the SAFE investor would have received the same dividend. On August 2, 2022, the fair value of the SAFE was approximately $4.7 million and the SAFE was converted into 100,000 shares of Series X preferred stock with a face value of $10.0 million, or $100 per share. During the year ended December 31, 2022, the Company recognized a $5.3 million loss on conversion of the SAFE (See Note 9).

Convertible promissory notes

Convertible promissory notes	12 Months Ended
	Dec. 31, 2022
Convertible promissory notes
Convertible promissory notes	Note 7. Convertible Promissory Notes During the second and third quarters of 2022, the Company entered into its 2022 Notes with a principal balance totaling approximately $1.5 million. The 2022 Notes contain an original issue discount totaling $0.2 million and the Company received net proceeds of approximately $1.2 million (net of financing fees of approximately $0.1 million). The 2022 Notes bear interest at 10% per annum and mature 12 months from the issuance date. The notes are secured by all assets and personal property of the Company. The note holders have the right to convert all or any portion of the outstanding principal balance and accrued interest into shares of the Company’s common stock, up to a beneficial ownership limitation of 9.99% of the number of shares of common stock outstanding at the time of conversion. The per share conversion price is equal to the lessor of (i) $7.00 or (ii) 80% of the qualified offering price of the Company’s common stock resulting from the listing for trading of its common stock on a qualified exchange. In connection with the notes, the Company issued common stock warrants to purchase 195,140 shares of the Company’s common stock. The warrants have an exercise price of the lessor of (i) $7.00 or (ii) 80% of the qualified offering price and expire five years from the issuance date. As a result of the issuance of the common stock warrants, the exercise price of the Company’s existing warrants was adjusted to an exercise of $3.00 per share. On August 26, 2022, upon the consummation of the Company’s initial public offering, the conversion price of the 2022 Notes and the exercise price of the warrants is calculated at 80% of $5.25 per share (the offering price) or $4.20 per share. On August 3, 2022, the Company entered into a conversion agreement with certain holders of the 2022 Notes, pursuant to which the holders agreed to convert $1.0 million of the principal balance at the consummation of the Company’s initial public offering at the conversion price of $4.20 per share. On August 26, 2022, the holders of the 2022 Notes converted the notes fair value of approximately $1.2 million to 238,094 shares of the Company’s common stock. During the fourth quarter 2022, the Company recorded a shares settled liability with a fair value of approximately $0.1 million, which was calculated using the Company’s closing price of its common stock on the note conversion date, in connection with 23,808 additional shares of common stock to be issued to the noteholders. On August 3, 2022, the Company entered into a conversion agreement with an additional holder of the 2022 Notes, pursuant to which the holder agreed to convert $255,555 of the principal balance at the consummation of the Company’s initial public offering into 2,555 shares of Series X preferred stock. On August 26, 2022, the note holder converted the notes fair value of $0.3 million to 2,555 shares of Series X preferred stock (See Note 9). During the fourth quarter 2022, the Company issued 251 additional shares of Series X preferred stock to the noteholder. As of December 31, 2022, the outstanding principal balance of the 2022 Notes was approximately $0.2 million. For the year ended December 31, 2022, the Company recorded a loss on issuance of debt of $0.4 million, loss on extinguishment of debt of $0.2 million, and a fair value loss of $0.3 million which is included in the change in fair value of notes in the accompanying statements of operations. The Company recognized interest expense as a component of the change in fair value of the notes during the year ended December 31, 2022 (See Note 3). Subsequent to December 31, 2022, the Company issued the 2023 Note with a principal balance of $3.7 million. The Company received proceeds of approximately $2.5 million, net of expenses and other costs. The 2023 Note bears no interest and matures 18 months from the issuance date. In connection with the 2023 Note, the Company issued a common stock warrant to purchase 800,000 shares of the Company’s common stock and paid a $112,000 commitment fee to the investor. The 2023 Note is secured by all of the Company’s assets and personal property. The 2023 Note is convertible into shares of the Company's common stock at any time, provided that no such conversion would result in the beneficial ownership by the investor and its affiliates of more than 4.99% of the Company’s outstanding shares of common stock. The conversion price of the 2023 Note is equal to $3.50, subject to customary adjustments, however, if new securities, other than exempted securities, are issued by the Company at a price less than the conversion price, the conversion price shall be reduced to such price. The 2023 Note provides that, commencing August 6, 2023, the Company will pay the outstanding principal amount of the 2023 Note in twelve consecutive monthly payments of $306,666.66 each. At the option of the Company, the monthly payment can be made in cash, shares of the common stock of the Company at a price based on 90% of the 5 lowest VWAPs during the 20 days prior to the payment date, or a combination of cash and stock. The shares issued as monthly payments must either be eligible for immediate resale under Rule 144 or be registered. Any portion of a monthly payment being made in cash shall include a premium of 5% of such cash amount.

Stock-based compensation

Stock-based compensation	12 Months Ended
	Dec. 31, 2022
Stock-based compensation
Stock-based compensation	Note 8. Stock-based Compensation Restricted Stock Units Time-based Restricted Stock Units The following is a summary of the time-based restricted stock units (“RSUs”) during the year ended December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Grant-Date ​ Number of Shares Fair Value Unvested as of December 31, 2021 — ​ $ - Granted 2,159,082 ​ $ 4.88 Forfeited (291,500) ​ $ 10.87 Vested ​ (15,000) ​ $ 5.30 Unvested as of December 31, 2022 1,852,582 ​ $ 4.79 ​ On December 22, 2020, the Company granted 481,416 RSUs with a fair value of approximately $4.3 million to employees, officers and directors of the Company. The RSUs are subject to service conditions (vesting of 33.34% on May 1, 2021, with the remaining units vesting on each three-month anniversary thereafter) and performance conditions in the form of a liquidity event. Vesting of the RSUs is subject to all grantees continuous service with the Company, and no vesting shall occur if the Company has not completed a Qualified Offering or a Change of Control on or before the vesting date. In the event that neither a Qualified Offering nor a Change of Control has occurred prior to December 31, 2021, then all RSUs shall be forfeited for no consideration. Because a Qualified Offering or Change of Control is not considered probable of achievement until consummation, compensation cost measured at the grant date is not recognized until such event occurs. On December 22, 2020, the Company granted 896,583 RSUs with a fair value of approximately $6.3 million to its officers and directors, in exchange for 787,499 vested and unvested stock options. The RSUs are subject to service conditions (vesting of 33.34% on May 1, 2021, with the remaining units vesting on each three-month anniversary, thereafter, fully vesting on May 1, 2023) and performance conditions in the form of a liquidity event. Vesting of the RSUs is subject to all grantees continuous service with the Company, and no vesting shall occur if the Company has not completed a Qualified Offering or a Change of Control on or before the vesting date. In the event that neither an IPO nor change in control has occurred prior to December 31, 2021, then all RSUs shall be forfeited for no consideration. Pursuant to the guidance of ASC 718- “Compensation - Stock Compensation”, the exchange of the options for the RSUs was accounted for as a probable (service only vesting) to improbable (performance and service with the performance criteria considered improbable since contingent upon a Qualified Offering or Change of Control) modification. As such, compensation cost for the original awards would be recognized if the awards would have vested pursuant to the original terms. In addition, since the original awards were modified, the incremental cost would be measured as the result of the most recent modification; that is, the fair value of the options after the modification to increase the exercise price to $8.98. This fair value would be compared to the fair value of the RSUs to determine the incremental compensation cost. Incremental compensation cost related to the replacement awards would be recognized only if the modified vesting criteria are achieved. Compensation cost related to the canceled stock options of $4.3 million will continue to be recognized over the original vesting criteria. Because a Qualified Offering or Change of Control is not considered probable of achievement until consummation, the incremental compensation cost measured at the grant date of $1.9 million is not recognized until such event occurs. Since the Company failed to complete a Qualified Offering or a Change of Control prior to December 31, 2021, the RSUs were forfeited as of December 31, 2021. On May 15, 2022, the Company granted 35,333 RSUs with a fair value of approximately $0.2 million to a member of its board of directors. The RSUs are subject to service conditions (vesting of 33.34% on August 26, 2022, the consummation date of the Company’s initial public offering, with the remaining units vesting 66.66% over the next two On January 1, 2022, the Company granted 1,342,667 RSUs with a fair value of approximately $14.6 million to employees, officers and directors of the Company. The RSUs are subject to service conditions (vesting of 33.34% on May 1, 2022, with the remaining units vesting on each three-month anniversary thereafter) and performance conditions in the form of a liquidity event. Vesting of the RSUs is subject to all grantees continuous service with the Company, and no vesting shall occur if the Company has not completed a Qualified Offering or a Change of Control on or before the vesting date. In the event that neither a Qualified Offering nor a Change of Control has occurred prior to December 31, 2022, then all RSUs shall be forfeited for no consideration. Because a Qualified Offering or Change of Control is not considered probable of achievement until consummation, compensation cost measured at the grant date is not recognized until such event occurs. During the year ended December 31, 2022, 291,500 RSU’s (granted on January 1, 2022) were forfeited due to terminations of two of the Company’s employees and two of its board members. In August 2022, the Company modified the remaining 1,051,167 RSUs granted on January 1, 2022 to provide that 33.34% of each of those RSUs would vest on May 1, 2022, with an additional 8.3325% of each grant vesting each quarter thereafter, provided that if neither (i) the expiration of the 6-month period following an initial public offering nor (ii) a change in control has occurred prior to the applicable vesting date, any RSUs that would have settled thereunder shall not settled until such expiration of the 6-month period following an initial public offering or change in control occurs (provided further that if neither an initial public offering nor a change in control occurs on or prior to December 31, 2022, then all of the related RSUs will be forfeited). Vesting in all cases generally is subject to the grantee’s continued employment with the Company or a subsidiary thereof on the applicable vesting date. This improbable to improbable modification resulted in a new measurement of compensation cost based on the underlying fair value of the Company’s common stock on the date of the modification of approximately $5.5 million. On July 16, 2022, the Company granted 15,000 RSUs to its Chief Financial Officer with a fair value of approximately $0.1 million, all of which vested December 31, 2022. In August 2022, the Company granted 492,500 RSUs with a fair value of approximately $2.6 million to certain officers, directors and employees, one-third On October 1, 2022, the Company granted 51,583 RSUs with a fair value of approximately $124,000 to a member of its board of directors. The RSUs are subject to service conditions and vest 33.34% on the one year anniversary of the grant date, with the remaining units vesting on each three-month anniversary thereafter. On November 19, 2022, the Company granted 135,000 RSUs with a fair value of approximately $0.3 million to its Chief Financial Officer, one-third During the fourth quarter 2022, the Company granted 87,000 RSUs with a fair value of approximately $0.2 million for consulting services. The RSUs vest over a period of four During the year ended December 31, 2022, the Company recorded stock-based compensation expense related to the RSUs of approximately $3.9 million. No stock-based compensation expense related to the RSUs was recognized during the year ended December 31, 2021. The unamortized stock-based compensation expense related to RSUs as of December 31, 2022 is approximately $5.1 million, which is expected to be recognized over a remaining weighted average vesting period of 1.2 years. Performance-based Restricted Stock Units On October 11, 2022, the Company granted 25,000 performance-based restricted stock units with a fair value of approximately $60,000 for consulting services. The RSUs are subject to a performance condition, and will vest upon the Company signing a definitive agreement with a strategic partner. Canceled Stock Options The Company previously granted options to purchase shares of the Company’s common stock and during the year ended December 31, 2020 these options were canceled (See RSUs above). No stock options were outstanding as of December 31, 2022 and December 31, 2021. Compensation cost related to the canceled stock options continues to be recognized over the original vesting criteria. During the years ended December 31, 2022 and 2021, the Company recorded stock-based compensation expense of approximately $0.5 million and $1.3 million, respectively. The unamortized stock-based compensation expense related to canceled stock options (as noted above), as of December 31, 2022 is approximately $0.2 million.

Stockholders' Deficit

Stockholders' Deficit	12 Months Ended
	Dec. 31, 2022
Stockholders' Deficit
Stockholders' Deficit	Note 9. Stockholders’ Deficit Amendment to Certificate of Incorporation On August 30, 2022, the Company filed an amendment (the “Amendment”) to its certificate of incorporation (the “Certificate”) with the Secretary of State of the State of Delaware in connection with the completion of the Company’s initial public offering. The Amendment amends the Company’s Certificate to, among other things: (i) authorize 200,000,000 shares of common stock and (ii) authorize 10,000,000 shares of preferred stock, 500,000 of which are designated as Series X Preferred Stock. In connection with the initial public offering, the Board waived any lock-up restrictions contained in the Series X Certificate of Designations. Series Seed Preferred Stock On April 15, 2020, the Company authorized 2,696,439 shares of $.0001 par value preferred stock. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, or any deemed liquidation event, the holders of preferred stock shall be paid out of the funds of the assets available for distribution to stockholders before any payment is made to common stockholders. A deemed liquidation event includes a merger or consolidation, the sale lease, transfer, exclusive license or other disposition by the Company. The preferred stockholders would be paid at an amount equal to the greater of (i) the applicable original issue price plus any dividends declared but unpaid or (ii) the amount per share of preferred stock that would have been payable had all shares of preferred stock been converted to common stock prior to such liquidation, dissolution or winding up, or deemed liquidation event. Each holder of preferred stock has voting rights equal to the number of whole shares of common stock into which their preferred shares are convertible as of the record date. Each share of preferred stock is convertible at the option of the holder, at any time, into shares of the Company’s common stock, the number of which is determined by dividing the original issue price by the conversion price for that series of preferred stock in effect at the time of conversion. As of December 31, 2021, the Company had 2,696,439 shares of preferred stock issued and outstanding, and the preferred shares were convertible into 1,557,435 shares of common stock. As of December 31, 2022, all shares of Series Seed preferred stock were converted to shares of the Company’s common stock (See below). Common Stock Year Ended December 31, 2022 On August 5, 2022, the Company entered into exchange agreements with the holders of the Company’s Series Seed preferred stock, par value $0.0001 per share. The Company and the holders exchanged all shares of outstanding Series Seed preferred stock into 1,557,435 shares of common stock immediately prior to the effectiveness of its registration statement filed in connection with the Company’s initial public offering. On August 9, 2022, the Company entered into an underwriting agreement relating to the public offering of its common stock, par value $0.0001 per share. The Company agreed to sell 1,545,454 shares of its common stock to the underwriters, at a purchase price per share of $4.83 (the offering price to the public of $5.25 per share minus the underwriters’ discount), pursuant to the Company’s registration statement on Form S-1 (File No. 333-239676), as amended, under the Securities Act of 1933, that was filed by the Company under Rule 462(b) under the Securities Act. On August 30, 2022, the Company received net proceeds from its public offering of approximately $6.0 million, net of underwriter fees and commissions of approximately $0.8 million, and offering costs of approximately $1.4 million. In connection with its public offering the Company issued 108,181 warrants to purchase shares of the Company’s common stock with an exercise price of $6.5625 per share. On November 17, 2022, the Company entered into the Purchase Agreement with LPC, which provided that, upon the terms and subject to the conditions and limitations set forth therein, the Company could sell to LPC, at its discretion, up to $20.0 million of shares of its common stock over the 30-month term of the Purchase Agreement. Upon execution of the Purchase Agreement, the Company issued 198,974 shares of its common stock to LPC as commitment shares in accordance with the closing conditions contained within the Purchase Agreement. The commitment shares were valued using the closing price of the Company’s common stock on the effective date of the Purchase Agreement resulting in an aggregate fair value of $0.3 million. The Company paid a $35,000 upfront fee to LPC and $195,997 in legal fees related to the issuance of the Purchase Agreement which are included in additional paid-in capital on the accompanying balance sheet. During the year ended December 31, 2022, the Company did not issue any shares of common stock in connection with the Purchase Agreement. Subsequent to December 31, 2022, the Company issued 1.2 million shares of common stock, and received net proceeds of approximately $2.8 million. During the year ended December 31, 2022, the Company recorded a shares settled liability with a fair value of approximately $0.2 million in connection with 23,808 shares of common stock to be issued in connection with the conversion of notes payable (See Note 7), and 7,026 shares of common stock to be issued for consulting services. The fair value of the shares settled liability was determined using the Company’s closing price of its common stock on the note conversion date, and the date of the consulting agreement. During the year ended December 31, 2022 the Company issued 57,143 shares of its common stock with a fair value of $0.1 million in connection with consulting services. As of December 31, 2022, the Company had 12,035,592 shares of common stock issued and outstanding Year Ended December 31, 2021 During the year ended December 31, 2021, in accordance with the original terms, the Company issued 1,137,594 shares of its common stock in connection with the conversion of $3.4 million of notes payable. Series X Preferred Stock On August 1, 2022, the Company authorized 500,000 shares of Series X preferred stock, par value 0.0001 per share. The stated value of the Series X preferred stock is $100 per share. The holders of the Series X preferred stock have no voting rights and are not entitled to dividends. The Series X preferred stock is convertible into shares of the Company’s common stock and is subject to a beneficial ownership limitation of 9.99% of the number of shares of common stock outstanding at the time of conversion. On August 2, 2022, the Company issued 3,200 shares of Series X preferred stock in a private placement, at a purchase price of $100 per share, and received net proceeds of approximately $0.3 million, after deducting expenses (the “Series X Private Placement”). The Series X Private Placement constituted a qualified offering under the terms of the SAFE and the $5.0 million outstanding under the SAFE automatically converted into 100,000 shares of Series X preferred stock (See Note 6). During the year ended December 31, 2022 the Company issued 2,806 shares of its Series X preferred stock in connection with the conversion of certain 2022 Notes (See Note 7). The 2,806 shares of Series X preferred stock are convertible into shares of common stock at the initial offering price of $5.25 per share, subject to the beneficial ownership limitation. On the August 26, 2022, in connection with its Warrant Exchange Agreement (See Note 3), the Company exchanged 750,000 warrants for 350,000 shares of its common stock and 1,250 shares of its Series X preferred stock. On August 26, 2022, upon the consummation of the Company’s initial public offering, 61,689 shares of the Series X preferred stock were converted into 1,175,000 shares of the Company’s common stock. As of December 31, 2022, 45,567 shares of Series X preferred stock remain outstanding.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Taxes
Income Taxes	Note 10. Income Taxes The provision for income taxes for the years ended December 31, 2022 and 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current Deferred Total Federal ​ $ — ​ $ — ​ $ — State ​ — ​ — ​ — Total ​ $ — ​ $ — ​ $ — ​ As of December 31, 2022, the Company has approximately $14.1 million of federal and state tax net operating loss carryforwards that may be available to offset future taxable income, if any. Under the Tax Cuts and Jobs Act, all federal NOLs incurred after December 31, 2017 are carried forward indefinitely. The state net operating loss carryforwards will begin to expire in 2040. The Company has federal research and development tax credit carryforwards of approximately $29,000 as of December 31, 2022, which begin to expire in 2040. Under the Internal Revenue Code (“IRC”) Section 382, annual use of the Company’s net operating loss carryforwards to offset taxable income may be limited based on cumulative changes in ownership. The Company has not completed an analysis to determine whether any such limitations have been triggered as of December 31, 2022. Any such limitation would have no net impact on the financial statements due to the recognition of a full valuation allowance on the recorded tax benefits related to loss carry forwards based on uncertainty surrounding realization of such assets. As required by ASC 740, management of the Company has evaluated the evidence bearing upon the realizability of its deferred tax assets. Based on the weight of available evidence, both positive and negative, management has determined that it is more likely than not that the Company will not realize the benefits of these assets. Accordingly, the Company recorded a valuation allowance of $4.8 million at December 31, 2022. The valuation allowance increased by $2.6 million during the year ended December 31, 2022, primarily as a result of the increase in net operating loss carryforwards generated in the current year. The tax effects of the temporary differences and carry forwards that give rise to deferred tax assets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ ​ 2022 2021 Net operating loss carryforwards ​ $ 3,687 ​ $ 2,030 Research & development credits ​ 29 ​ 11 Accrued expenses ​ ​ — ​ ​ 166 Equity based compensation ​ ​ 667 ​ ​ — Capitalized research costs ​ ​ 447 ​ ​ — Total deferred tax assets ​ ​ 4,830 ​ ​ 2,207 Valuation allowance ​ ​ (4,830) ​ ​ (2,207) Net deferred tax asset ​ $ — ​ $ — ​ A reconciliation of the statutory income tax rates and the Company’s effective tax rate is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended December 31, ​ ​ 2022 2021 Tax provision at statutory rate ​ ​ 21.0 % ​ 21.0 % State taxes, net of federal benefit ​ ​ 5.0 % ​ 3.7 % Share based compensation ​ ​ (1.8) % ​ (9.2) % Debt conversion ​ ​ (7.8) % ​ (6.7) % Permanent items ​ ​ (0.7) % ​ 0.4 % Other ​ ​ (0.7) % ​ — % Warrant liability ​ ​ 2.7 % ​ (0.9) % Change in valuation reserve ​ ​ (17.7) % ​ (8.3) % Income taxes provision (benefit) ​ ​ — % ​ — % ​ As of December 31, 2022 and 2021, the Company had no uncertain tax positions. The Company’s policy is to recognize interest and penalties that would be assessed in relation to the settlement value of unrecognized tax benefits as a component of income tax expense. The Company did not accrue either interest or penalties for the years ended December 31, 2022 and 2021. The Company files income tax returns in the United States federal tax jurisdiction and various state jurisdictions, including New York and New Jersey. The Company did not have any foreign operations during the year ended December 31, 2022. The statute of limitations for assessment by the Internal Revenue Service and state tax authorities is open since inception, and in addition, carryforward tax attributes generated since inception may be adjusted upon examination to the extent utilized in a future period. The Company is not aware of any tax examinations currently taking place.

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and contingencies
Commitments and contingencies	Note 11. Commitments and Contingencies Litigation As of December 31, 2022 and 2021, there was no litigation against the Company. The Company may be involved in legal proceedings, claims and assessments arising from the ordinary course of business. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2022
Related party transactions
Related party transactions	Note 12. Related Party Transactions TardiMed Sciences - Expenses Accounts payable -

Significant accounting polici_2

Significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2022
Significant accounting policies
Basis of presentation	Basis of Presentation The Company’s financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and include all adjustments necessary for the fair presentation of its balance sheets, results of operations and cash flows for the period presented.
Use of estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The most significant estimates in the Company’s financial statements relate to the valuation of warrants, valuation of the 2022 Notes, valuation of the SAFE liability and valuation of equity-based awards. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected.
Cash, cash equivalents and short-term investments	Cash, Cash Equivalents and Short-Term Investments The Company considers all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. As of December 31, 2022 and 2021, the Company had no cash equivalents or short-term investments.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash. The Company maintains its cash high credit quality financial institutions, which may at times, be in excess of federal insured limits. The Company believes it is not exposed to any significant losses due to credit risk on cash.
Risks and Uncertainties	Risks and Uncertainties The Company operates in a dynamic and highly competitive industry and is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, protection of proprietary technology, dependence on key personnel, contract manufacturer and contract research organizations, compliance with government regulations and the need to obtain additional financing to fund operations. Product candidates currently under development will require significant additional research and development efforts, including extensive preclinical studies and clinical trials and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel infrastructure and extensive compliance and reporting. The Company believes that changes in any of the following areas could have a material adverse effect on the Company’s future financial position, results of operations, or cash flows; ability to obtain future financing; advances and trends in new technologies and industry standards; results of clinical trials; regulatory approval and market acceptance of the Company’s products; development of sales channels; certain strategic relationships; litigation or claims against the Company based on intellectual property, patent, product, regulatory, or other factors; and the Company’s ability to attract and retain employees necessary to support its growth.
Fair value of financial instruments	Fair Value of Financial Instruments The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 820 (“ASC 820”), Fair Value Measurements. This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and Level 3 - assets and liabilities whose significant value drivers are unobservable. Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment. During the year ended December 31, 2022, the Company issued certain of the 2022 Notes and warrants in connection with the 2022 Notes. The 2022 Notes and warrants were classified as liabilities and measured at fair value on the issuance date, with changes in fair value recognized as other income (expense) on the statements of operations and disclosed in the financial statements During the year ended December 31, 2021, the Company entered into its SAFE agreement and classified the SAFE as a liability measured at cost on the issuance date, with changes in fair value recognized as other income on the statement of operations. The carrying amounts of the Company’s financial assets and liabilities, such as accounts payable, approximate fair value due to the short-term nature of these instruments.
Convertible Notes	Convertible Notes In accordance with Accounting Standards Codification 825, Financial Instruments
Warrant Liability	Warrant Liability The Company accounts for certain common stock warrants outstanding as a liability at fair value and adjusts the instruments to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s statements of operations. The fair value of the warrants issued by the Company have been estimated using the Monte Carlo simulation. As of December 31, 2022, there are no warrant liabilities (See Note 4).
Simple Agreement for Future Equity	Simple Agreement for Future Equity The Company accounts for a SAFE as a liability at fair value and adjusts the instrument to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until a triggering event, equity financing or a liquidity/dissolution occurs, and any change in fair value is recognized in the Company’s statements of operations. The fair value of the SAFE has been estimated using the Backsolve method which utilizes the Option Pricing Method. As of December 31, 2022, the SAFE liability has been converted to 100,000 shares of Series X preferred stock (See Note 9).
Research and development	Research and Development Research and development costs are expensed as incurred. Advance payments for goods and services that will be used in future research and development activities are expensed when the activity has been performed or when the goods have been received.
Accrued Outsourcing Costs	Accrued Outsourcing Costs Substantial portions of the Company’s preclinical studies and clinical trials are performed by third-party laboratories, medical centers, contract research organizations and other vendors (collectively “CROs”). These CROs generally bill monthly or quarterly for services performed, or bill based upon milestone achievement. For preclinical studies, the Company accrues expenses based upon estimated percentage of work completed and the contract milestones remaining. Clinical trial costs are a significant component of research and development expenses and include costs associated with third-party contractors. The Company outsources a substantial portion of its clinical trial activities, utilizing external entities such as CROs, independent clinical investigators, and other third-party service providers to assist the Company with the execution of its clinical studies. For each clinical trial that the Company conducts, certain clinical trial costs are expensed immediately, while others are expensed over time based on the number of patients in the trial, the attrition rate at which patients leave the trial, and/or the period over which clinical investigators or CROs are expected to provide services. The Company’s estimates depend on the timeliness and accuracy of the data provided by the CROs regarding the status of each program and total program spending. The Company periodically evaluates the estimates to determine if adjustments are necessary or appropriate based on information it receives.
Stock-Based Compensation	Stock-Based Compensation The Company expenses stock-based compensation to employees, non-employees and board members over the requisite service period based on the estimated grant-date fair value of the awards and actual forfeitures. 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 costs in the statements of operations.
Loss Per Share	Loss Per Share Basic net loss per share (“EPS”) of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Since the Company has net losses, basic and diluted net loss per share is the same. Securities that could potentially dilute loss per share in the future were not included in the computation of diluted loss per share at December 31, 2022 and 2021, because their inclusion would be anti-dilutive are as follows: ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2022 2021 Preferred stock — 1,557,435 Series X preferred stock ​ 867,943 ​ — Unvested restricted stock units 1,877,582 — Common stock warrants 445,409 1,034,176 SAFE investment (1) — 414,808 Convertible notes 56,571 — Shares settled liability ​ 30,834 ​ — Total 3,278,340 3,006,419 (1) SAFE investment ​ As of December 31, 2021, the Company’s price per share of $12.05 was calculated by dividing the post money valuation of $150 million by 12,444,251 shares of common stock outstanding. The 12,444,251 shares of common stock outstanding was calculated in accord with the agreement and includes 6,913,492 of common shares outstanding, 2,703,776 of IPO shares, 1,377,999 of restricted stock units, 1,034,176 of common stock warrants and 414,808 of SAFE shares. The SAFE investment shares of 414,808 (included in the table above) were calculated using the SAFE investment of $5.0 million divided by $12.05 per share.
Income taxes	Income Taxes ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s financial statements. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in material changes to its financial position.
Recent accounting pronouncements	Recent Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. This ASU is effective for annual reporting periods beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. This update permits the use of either the modified retrospective or fully retrospective method of transition. The Company adopted this standard on January 1, 2022, and the adoption did not have a material impact on the Company’s financial statements or disclosures. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. This ASU provides guidance for a modification or an exchange of a freestanding equity-classified written call option that is not within the scope of another Topic. It specifically addresses: (1) how an entity should treat a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; (2) how an entity should measure the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; and (3) how an entity should recognize the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange. This ASU will be effective for all entities for fiscal years beginning after December 15, 2021. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. Early adoption is permitted, including adoption in an interim period. The Company adopted this standard on January 1, 2022, and the adoption did not have a material impact on the Company’s financial statements or disclosures.

Significant accounting polici_3

Significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2022
Significant accounting policies
Schedule of securities excluded from the computation of diluted net loss per share attributable to common shareholders	​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2022 2021 Preferred stock — 1,557,435 Series X preferred stock ​ 867,943 ​ — Unvested restricted stock units 1,877,582 — Common stock warrants 445,409 1,034,176 SAFE investment (1) — 414,808 Convertible notes 56,571 — Shares settled liability ​ 30,834 ​ — Total 3,278,340 3,006,419 (1) SAFE investment ​ As of December 31, 2021, the Company’s price per share of $12.05 was calculated by dividing the post money valuation of $150 million by 12,444,251 shares of common stock outstanding. The 12,444,251 shares of common stock outstanding was calculated in accord with the agreement and includes 6,913,492 of common shares outstanding, 2,703,776 of IPO shares, 1,377,999 of restricted stock units, 1,034,176 of common stock warrants and 414,808 of SAFE shares. The SAFE investment shares of 414,808 (included in the table above) were calculated using the SAFE investment of $5.0 million divided by $12.05 per share.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Measurements
Schedule of fair value hierarchy of liabilities measured at fair value on a recurring basis	The following tables classify the Company’s liabilities measured at fair value on a recurring basis into the fair value hierarchy as of December 31, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measured at December 31, 2022 ​ ​ ​ ​ Quoted prices in active ​ Significant other ​ Significant ​ ​ Total carrying value at ​ markets ​ observable inputs ​ unobservable inputs ​ December 31, 2022 (Level 1) (Level 2) (Level 3) Liabilities: ​ ​ ​ ​ Convertible notes ​ $ 173,543 ​ $ — ​ $ — ​ $ 173,543 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measured at December 31, 2021 ​ ​ ​ ​ Quoted prices in active ​ Significant other ​ Significant ​ ​ Total carrying value at ​ markets ​ observable inputs ​ unobservable inputs ​ December 31, 2021 (Level 1) (Level 2) (Level 3) Liabilities: ​ ​ ​ ​ SAFE liability ​ $ 4,824,217 ​ $ — ​ $ — ​ $ 4,824,217 Warrant liability ​ $ 4,516,485 ​ $ — ​ $ — ​ $ 4,516,485 ​
Summary of changes in Level 3 liabilities measured at fair value	The following table presents changes in Level 3 liabilities measured at fair value for the year ended December 31, 2022 and 2021. Unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to unobservable (e.g., changes in unobservable long-dated volatilities) inputs. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Convertible Notes SAFE Liability Warrant Liability Balance at January 1, 2021 ​ $ — ​ $ — ​ $ 4,057,927 Issuance of SAFE ​ ​ — ​ ​ 5,000,000 ​ ​ — Change in fair value ​ ​ — ​ ​ (175,783) ​ ​ 458,558 Balance at December 31, 2021 ​ $ — ​ $ 4,824,217 ​ $ 4,516,485 Issuance of convertible notes and warrants ​ 1,353,720 ​ — ​ 278,494 Conversion of SAFE liability to Series X preferred stock ​ ​ — ​ (10,000,000) ​ — Issuance of common stock in connection with conversion of notes payable ​ ​ (1,159,500) ​ — ​ — Issuance of Series X preferred stock in connection with conversion of notes payable ​ ​ (327,993) ​ — ​ — Warrants exchanged for shares of common stock and Series X preferred stock ​ ​ — ​ — ​ (2,009,207) Loss on extinguishment of debt ​ ​ 161,563 ​ — ​ — Change in fair value ​ 272,202 ​ (163,025) ​ (1,873,192) Reclassification of warrants to equity ​ ​ — ​ — ​ (912,580) Loss on conversion of SAFE ​ ​ — ​ 5,338,808 ​ — Shares settled liability in connection with conversion of notes payable ​ ​ (126,449) ​ — ​ — Balance at December 31, 2022 ​ $ 173,543 ​ $ — ​ $ — ​
2022 Notes
Fair Value Measurements
Summary of significant unobservable inputs (Level 3 inputs) used in measurement upon issuance dates	A summary of significant unobservable inputs (Level 3 inputs) used in measuring the 2022 Notes during the year ended December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2022 Dividend yield ​ 0 % Expected price volatility ​ 57%-57.2 % Risk free interest rate ​ 2.8%-4.76 % Expected term (in years) ​ 0.5-1.0 ​ ​
Simple Agreement for Future Equity
Fair Value Measurements
Summary of significant unobservable inputs (Level 3 inputs) used in measurement upon issuance dates	A summary of significant unobservable inputs (Level 3 inputs) used in measuring the SAFE during the years ended December 31, 2022 and 2021 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Year Ended Year Ended ​ ​ December 31, 2022 ​ December 31, 2021 ​ Dividend yield ​ 0 % 0 % Expected price volatility ​ 50.0 % 50.0 % Risk free interest rate ​ 1.35%-3.08 % 0.06%-0.07 % Expected term (in years) ​ 0.8-1.5 ​ 1.0-5.0 ​ ​
Warrants
Fair Value Measurements
Summary of significant unobservable inputs (Level 3 inputs) used in measurement upon issuance dates	A summary of significant unobservable inputs (Level 3 inputs) used in measuring warrants during the year ended December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, 2022 Dividend yield ​ - % Expected price volatility ​ 57.0%-105.0 % Risk free interest rate ​ 0.17%-3.40 % Expected term (in years) ​ 0.1-5.0 ​ ​

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Accrued Expenses
Schedule of Company's accrued expenses	The Company’s accrued expenses as of December 31, 2022 and 2021 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2022 ​ 2021 Employee and related expenses ​ $ 510,297 ​ $ 680,026 Directors and officers insurance ​ ​ 269,753 ​ ​ — Professional fees ​ ​ 162,021 ​ ​ — Research and development ​ ​ 77,000 ​ ​ — Total accrued expenses ​ $ 1,019,071 ​ $ 680,026

Stock-based compensation (Table

Stock-based compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Stock-based compensation
Summary of changes in restricted stock units	The following is a summary of the time-based restricted stock units (“RSUs”) during the year ended December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Grant-Date ​ Number of Shares Fair Value Unvested as of December 31, 2021 — ​ $ - Granted 2,159,082 ​ $ 4.88 Forfeited (291,500) ​ $ 10.87 Vested ​ (15,000) ​ $ 5.30 Unvested as of December 31, 2022 1,852,582 ​ $ 4.79 ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes
Schedule of the provision for income taxes	The provision for income taxes for the years ended December 31, 2022 and 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current Deferred Total Federal ​ $ — ​ $ — ​ $ — State ​ — ​ — ​ — Total ​ $ — ​ $ — ​ $ — ​
Schedule of deferred tax assets	The tax effects of the temporary differences and carry forwards that give rise to deferred tax assets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ ​ 2022 2021 Net operating loss carryforwards ​ $ 3,687 ​ $ 2,030 Research & development credits ​ 29 ​ 11 Accrued expenses ​ ​ — ​ ​ 166 Equity based compensation ​ ​ 667 ​ ​ — Capitalized research costs ​ ​ 447 ​ ​ — Total deferred tax assets ​ ​ 4,830 ​ ​ 2,207 Valuation allowance ​ ​ (4,830) ​ ​ (2,207) Net deferred tax asset ​ $ — ​ $ — ​
Reconciliation of the statutory income tax rates and the effective tax	A reconciliation of the statutory income tax rates and the Company’s effective tax rate is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended December 31, ​ ​ 2022 2021 Tax provision at statutory rate ​ ​ 21.0 % ​ 21.0 % State taxes, net of federal benefit ​ ​ 5.0 % ​ 3.7 % Share based compensation ​ ​ (1.8) % ​ (9.2) % Debt conversion ​ ​ (7.8) % ​ (6.7) % Permanent items ​ ​ (0.7) % ​ 0.4 % Other ​ ​ (0.7) % ​ — % Warrant liability ​ ​ 2.7 % ​ (0.9) % Change in valuation reserve ​ ​ (17.7) % ​ (8.3) % Income taxes provision (benefit) ​ ​ — % ​ — % ​

Organization and Description _2

Organization and Description of Business Operations (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 30, 2022	Aug. 09, 2022	Dec. 31, 2022	Aug. 05, 2022	Dec. 31, 2021
Organization And Description Of Business Operation
Common stock, par value (in dollars per share)			$ 0.0001	$ 0.0001	$ 0.0001
Initial public offering
Organization And Description Of Business Operation
Common stock, par value (in dollars per share)		$ 0.0001
Net proceeds from issuance of shares	$ 6	$ 6
Underwriter fees and commissions	0.8	0.8
Offering costs	$ 1.4	$ 1.4
Initial public offering | Common Stock
Organization And Description Of Business Operation
Price per share		$ 5.25
Number of warrants issued	108,181
Exercise price of warrants	$ 6.5625
Overallotment option
Organization And Description Of Business Operation
Common stock, par value (in dollars per share)		$ 0.0001
Underwriters' option term		45 days
Overallotment option | Common Stock
Organization And Description Of Business Operation
Issuance of stock		1,545,454
Price per share		$ 4.83
Additional shares which may be purchased during the option period		231,818

Going Concern, Liquidity and _2

Going Concern, Liquidity and Capital Resources (Details) - USD ($)					6 Months Ended	12 Months Ended
	Feb. 07, 2023	Feb. 02, 2023	Nov. 17, 2022	Aug. 02, 2022	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Aug. 01, 2022
Going Concern, Liquidity and Capital Resources
Product revenues						$ 0
Working capital						100,000
Accumulated deficit						(33,740,016)	$ (18,938,249)
Net loss						(14,801,767)	(10,228,971)
Net cash used in operating activities						(6,071,183)	$ (5,512,639)
Net proceeds from issuance of notes						$ 1,240,970
Par value per share (in dollars per share)						$ 0.0001	$ 0.0001
Net proceeds from issuance of preferred stock						$ 300,000
Series X Preferred Stock
Going Concern, Liquidity and Capital Resources
Number of shares issued				3,200
Par value per share (in dollars per share)				$ 0.0001				$ 0.0001
Price per share				$ 100
Net proceeds from issuance of preferred stock				$ 300,000
Equity Purchase Agreement with Lincoln Park Capital Fund, LLC
Going Concern, Liquidity and Capital Resources
Value of new shares which may be issued			$ 20,000,000
Term of agreement			30 months
Number of shares issued	1,200,000
Proceeds from issuance of shares, net of fees	$ 2,800,000
2023 Note
Going Concern, Liquidity and Capital Resources
Face amount of debt		$ 3,700,000
Interest rate		0%
Net proceeds from issuance of notes		$ 2,500,000
Maturity period		18 months
Number of shares which may be purchase with warrant		800,000
Commitment fee		$ 112,000
2023 Note | Subsequent Event
Going Concern, Liquidity and Capital Resources
Face amount of debt		3,700,000
Net proceeds from issuance of notes		$ 2,500,000
2022 Notes
Going Concern, Liquidity and Capital Resources
Face amount of debt					$ 1,500,000
Interest rate					10%
Original issue discount					$ 300,000
Net proceeds from issuance of notes					$ 1,200,000
Maturity period					12 months

Significant accounting polici_4

Significant accounting policies - Cash, cash equivalents and short-term investments (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Significant accounting policies
Cash equivalents	$ 0	$ 0
Short-term investments	$ 0	$ 0

Significant accounting polici_5

Significant accounting policies - Warrant Liability (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Significant accounting policies
Warrant liability	$ 0	$ 4,516,485

Significant accounting polici_6

Significant accounting policies - SAFE Investment (Details) - shares		12 Months Ended
	Aug. 02, 2022	Dec. 31, 2022
Preferred Stock | Series X Preferred Stock
Accounting Policies
Conversion of SAFE liability to Series X preferred stock (in shares)	100,000	100,000

Significant accounting polici_7

Significant accounting policies - Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of diluted net loss per share attributable to common shareholders	3,278,340	3,006,419
Share price		$ 12.05
Post money valuation		$ 150
Common stock, shares outstanding considered for determination of post money valuation		12,444,251
Common stock, shares outstanding (in shares)	12,035,592	6,913,492
IPO shares		2,703,776
Restricted stock units		1,377,999
Common stock warrants		1,034,176
SAFE shares		414,808
SAFE investment		5,000,000
Preferred stock
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of diluted net loss per share attributable to common shareholders		1,557,435
Series X Preferred Stock
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of diluted net loss per share attributable to common shareholders	867,943
Unvested restricted stock units
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of diluted net loss per share attributable to common shareholders	1,877,582
Common stock warrants
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of diluted net loss per share attributable to common shareholders	445,409	1,034,176
SAFE investment
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of diluted net loss per share attributable to common shareholders		414,808
Convertible notes
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of diluted net loss per share attributable to common shareholders	56,571
Shares settled liability
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of diluted net loss per share attributable to common shareholders	30,834

Fair Value Measurements - Hiera

Fair Value Measurements - Hierarchy (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Liabilities
Warrant liability	$ 0	$ 4,516,485
Carrying Value
Liabilities
Convertible notes	173,543
SAFE liability		4,824,217
Warrant liability		4,516,485
Recurring | Fair Value | Significant unobservable inputs (Level 3)
Liabilities
Convertible notes	173,543
SAFE liability		4,824,217
Warrant liability		$ 4,516,485
Change in fair value of Level 3 liabilities	$ 1,800,000

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Level 3 Liabilities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Convertible Notes
Fair Value Measurements
Beginning Balance	$ 0
Issuances of liabilities	1,353,720
Loss on extinguishment of debt	161,563
Change in fair value	272,202
Shares settled liability in connection with conversion of notes payable	(126,449)
Ending Balance	173,543	$ 0
Convertible Notes | Common Stock
Fair Value Measurements
Issuance of stock in connection with conversion of notes payable	(1,159,500)
Convertible Notes | Preferred Stock | Series X Preferred Stock
Fair Value Measurements
Issuance of stock in connection with conversion of notes payable	(327,993)
SAFE Liability
Fair Value Measurements
Beginning Balance	4,824,217	0
Issuances of liabilities		5,000,000
Conversion of SAFE liability to Series X preferred stock	(10,000,000)
Change in fair value	(163,025)	(175,783)
Loss on conversion of SAFE	5,338,808
Ending Balance	0	4,824,217
Warrant Liability
Fair Value Measurements
Beginning Balance	4,516,485	4,057,927
Issuances of liabilities	278,494
Warrants exchanged for shares of common stock and Series X preferred stock	(2,009,207)
Change in fair value	(1,873,192)	458,558
Reclassification of warrants to equity	(912,580)
Ending Balance	$ 0	$ 4,516,485

Fair Value Measurements - Conve

Fair Value Measurements - Convertible Notes (Details) - 2022 Notes	12 Months Ended
	Dec. 31, 2022 Y shares
Dividend yield
Fair Value Measurements
Debt instrument, measurement input	0
Expected price volatility | Minimum
Fair Value Measurements
Debt instrument, measurement input	0.57
Expected price volatility | Maximum
Fair Value Measurements
Debt instrument, measurement input	0.572
Risk free interest rate | Minimum
Fair Value Measurements
Debt instrument, measurement input	0.028
Risk free interest rate | Maximum
Fair Value Measurements
Debt instrument, measurement input	0.0476
Expected term (in years) | Minimum
Fair Value Measurements
Debt instrument, measurement input | Y	0.5
Expected term (in years) | Maximum
Fair Value Measurements
Debt instrument, measurement input | Y	1
Common Stock
Fair Value Measurements
Number of noteholders electing for conversion of notes to shares	2
Aggregate number of shares to be issued upon conversion of notes | shares	261,902
Preferred Stock | Series X Preferred Stock
Fair Value Measurements
Number of noteholders electing for conversion of notes to shares	1
Aggregate number of shares to be issued upon conversion of notes | shares	2,806

Fair Value Measurements - Simpl

Fair Value Measurements - Simple Agreement for Future Equity (Details)		12 Months Ended
	Aug. 02, 2022 USD ($) shares	Dec. 31, 2022 Y shares	Dec. 31, 2021 USD ($) Y	Mar. 19, 2021 USD ($)
Fair Value Measurements
SAFE liability | $	$ 5,000,000		$ 4,824,217
Preferred Stock | Series X Preferred Stock
Fair Value Measurements
Conversion of SAFE liability to Series X preferred stock (in shares) | shares	100,000	100,000
Simple Agreement for Future Equity
Fair Value Measurements
SAFE liability | $				$ 5,000,000
Simple Agreement for Future Equity | Dividend yield
Fair Value Measurements
Liability, measurement input		0	0
Simple Agreement for Future Equity | Expected price volatility
Fair Value Measurements
Liability, measurement input		0.500	0.500
Simple Agreement for Future Equity | Risk free interest rate | Minimum
Fair Value Measurements
Liability, measurement input		0.0135	0.0006
Simple Agreement for Future Equity | Risk free interest rate | Maximum
Fair Value Measurements
Liability, measurement input		0.0308	0.0007
Simple Agreement for Future Equity | Expected term (in years) | Minimum
Fair Value Measurements
Liability, measurement input | Y		0.8	1
Simple Agreement for Future Equity | Expected term (in years) | Maximum
Fair Value Measurements
Liability, measurement input | Y		1.5	5

Fair Value Measurements - Warra

Fair Value Measurements - Warrants (Details)			12 Months Ended
	Aug. 26, 2022 USD ($) shares	Aug. 03, 2022 shares	Dec. 31, 2022 USD ($) Y shares	Dec. 31, 2020 shares	Dec. 31, 2021 USD ($)
Fair Value Measurements
Number of warrants converted into shares		750,000
Warrant liability | $			$ 0		$ 4,516,485
Dividend yield
Fair Value Measurements
Warrants, measurement input			0
Expected price volatility | Minimum
Fair Value Measurements
Warrants, measurement input			0.570
Expected price volatility | Maximum
Fair Value Measurements
Warrants, measurement input			1.050
Risk free interest rate | Minimum
Fair Value Measurements
Warrants, measurement input			0.0017
Risk free interest rate | Maximum
Fair Value Measurements
Warrants, measurement input			0.0340
Expected term (in years) | Minimum
Fair Value Measurements
Warrants, measurement input | Y			0.1
Expected term (in years) | Maximum
Fair Value Measurements
Warrants, measurement input | Y			5
Common stock warrants
Fair Value Measurements
Number of warrants converted into shares	750,000
Reclassification of warrants to equity, shares	479,316
Warrant liability | $	$ 900,000		$ 0
Common Stock
Fair Value Measurements
Number of shares issued in exchange for warrants	350,000	350,000	350,000
Common Stock | Common stock warrants
Fair Value Measurements
Common stock warrants issued			195,140	1,034,176
Preferred Stock | Series X Preferred Stock
Fair Value Measurements
Number of shares issued in exchange for warrants	1,250	1,250	1,250

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Accrued Expenses
Employee and related expenses	$ 510,297	$ 680,026
Directors and officers insurance	269,753
Professional fees	162,021
Research and development	77,000
Total accrued expenses	$ 1,019,071	$ 680,026

Simple Agreement for Future E_2

Simple Agreement for Future Equity ("SAFE") (Details) - USD ($)		12 Months Ended
	Aug. 02, 2022	Dec. 31, 2022	Dec. 31, 2021
Simple Agreement for Future Equity ("SAFE")
Proceeds From SAFE Investment			$ 5,000,000
Post money valuation cap			$ 150,000,000
Conversion of SAFE liability to Series X preferred stock	$ 10,000,000	$ 10,000,000
Loss on conversion of SAFE		$ 5,338,808
Preferred Stock | Series X Preferred Stock
Simple Agreement for Future Equity ("SAFE")
Conversion of SAFE liability to Series X preferred stock (in shares)	100,000	100,000
Conversion of SAFE liability to Series X preferred stock		$ 10
Conversion price per share, SAFE Liability	$ 100
SAFE Liability
Simple Agreement for Future Equity ("SAFE")
Percentage of discount of pricing in the triggering equity financing			50%
Loss on conversion of SAFE		$ 5,300,000
SAFE Liability | Maximum
Simple Agreement for Future Equity ("SAFE")
Post money valuation cap			$ 150,000,000
SAFE Liability | Fair Value
Simple Agreement for Future Equity ("SAFE")
Fair value of SAFE liability	$ 4,700,000

Convertible promissory notes (D

Convertible promissory notes (Details)						3 Months Ended	6 Months Ended	12 Months Ended
	Aug. 06, 2023 USD ($) item	Feb. 02, 2023 USD ($) $ / shares shares	Aug. 26, 2022 USD ($) $ / shares shares	Aug. 03, 2022 USD ($) $ / shares shares	Aug. 01, 2022	Dec. 31, 2022 USD ($) shares	Sep. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) shares
Convertible promissory notes
Proceeds from issuance of convertible promissory notes, net of fees								$ 1,240,970
Loss on issuance of debt								391,246
Loss on extinguishment of debt								$ 161,563
Series X Preferred Stock
Convertible promissory notes
Percent of beneficial ownership limitation					9.99%
Conversion agreement with an additional holder of 2022 Notes | Series X Preferred Stock
Convertible promissory notes
Shares issued upon conversion of debt | shares			2,555			251
2022 Notes
Convertible promissory notes
Face amount of debt							$ 1,500,000
Debt discount							200,000
Proceeds from issuance of convertible promissory notes, net of fees							1,200,000
Payment of financing fees							$ 100,000
Annual interest rate							10%
Maturity period							12 months
Percent of beneficial ownership limitation							9.99%
Conversion price (per share) | $ / shares			$ 4.20				$ 7
Percent of offering price			80%				80%
Offering price per share | $ / shares			$ 5.25
Number of shares which may be purchased from issued warrants | shares							195,140
Exercise price of warrants | $ / shares							$ 7
Percent of qualified offering price							80%
Term of warrants							5 years
Adjusted exercise price share | $ / shares							$ 3
Fair value of shares settled liability						$ 100,000
Number of additional shares to be issued to noteholders | shares						23,808		23,808
Convertible notes outstanding						$ 200,000		$ 200,000
Loss on issuance of debt								400,000
Change in fair value								$ 300,000
2022 Notes | Series X Preferred Stock
Convertible promissory notes
Conversion price (per share) | $ / shares			$ 5.25
2022 Notes | Conversion agreement with certain holders of 2022 Notes
Convertible promissory notes
Amount of debt to be converted				$ 1,000,000
Conversion price (per share) | $ / shares				$ 4.20
Shares issued upon conversion of debt | shares				238,094
Fair value of debt converted			$ 1,200,000
2022 Notes | Conversion agreement with an additional holder of 2022 Notes
Convertible promissory notes
Amount of debt to be converted				$ 255,555
Fair value of debt converted			$ 300,000
2023 Note
Convertible promissory notes
Face amount of debt		$ 3,700,000
Proceeds from issuance of convertible promissory notes, net of fees		$ 2,500,000
Annual interest rate		0%
Maturity period		18 months
Number of shares which may be purchase with warrant | shares		800,000
Commitment fee		$ 112,000
Conversion price (per share) | $ / shares		$ 3.50
Percent of beneficial ownership limitation		4.99%
Percentage of share price used to calculate shares issued as payment of debt		90%
Monthly payment cash premium percentage		5%
2023 Note | Forecast
Convertible promissory notes
Number of periodic payments | item	12
Frequency of periodic payment	monthly
Amount of periodic payment	$ 306,666.66

Stock-based compensation - Chan

Stock-based compensation - Changes in time-based restricted stock units (Details) - Time-based Restricted Stock Units	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Number of Shares
Beginning balance | shares	0
Granted | shares	2,159,082
Forfeited | shares	(291,500)
Vested | shares	(15,000)
Ending balance | shares	1,852,582
Weighted Average Grant-Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	4.88
Forfeited (in dollars per share) | $ / shares	10.87
Vested (in dollars per share) | $ / shares	5.30
Ending balance (in dollars per share) | $ / shares	$ 4.79

Stock-based compensation - Rest

Stock-based compensation - Restricted Stock Units (Details)								1 Months Ended	3 Months Ended	12 Months Ended
	Nov. 19, 2022 USD ($) shares	Oct. 01, 2022 USD ($) shares	Aug. 26, 2022 shares	Jul. 16, 2022 USD ($) shares	May 15, 2022 USD ($) shares	Jan. 01, 2022 USD ($) shares	Dec. 22, 2020 USD ($) $ / shares shares	Aug. 31, 2022 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 USD ($) employee director shares	Dec. 31, 2021 USD ($)
Stock-based compensation
Number of employees terminated | employee										2
Number of board members terminated | director										2
Stock-based compensation expense										$ 500,000	$ 1,300,000
RSUs
Stock-based compensation
Shares forfeited | shares										291,500
Stock-based compensation expense										$ 3,900,000	$ 0
Unamortized stock-based compensation expense, RSUs									$ 5,100,000	$ 5,100,000
Recognition period for remaining unamortized stock-based compensation expense										1 year 2 months 12 days
RSUs | Vesting period 1 | Initial public offering
Stock-based compensation
Vesting percentage			58.3375%
Vested (shares) | shares			35,333
RSUs | Vesting period 2 | Initial public offering
Stock-based compensation
Vesting percentage			8.3325%
Stock options
Stock-based compensation
Unamortized stock-based compensation expense, canceled stock options									$ 200,000	$ 200,000
Employees, officers and directors | RSUs
Stock-based compensation
Number of units granted | shares						1,342,667	481,416	492,500
Aggregate fair value of awards granted						$ 14,600,000	$ 4,300,000	$ 2,600,000
Description of vesting terms						The RSUs are subject to service conditions (vesting of 33.34% on May 1, 2022, with the remaining units vesting on each three-month anniversary thereafter) and performance conditions in the form of a liquidity event.	The RSUs are subject to service conditions (vesting of 33.34% on May 1, 2021, with the remaining units vesting on each three-month anniversary thereafter) and performance conditions in the form of a liquidity event.
Employees, officers and directors | RSUs | Vesting period 1
Stock-based compensation
Vesting percentage						33.34%	33.34%	33.34%
Vesting period								1 year
Employees, officers and directors | RSUs | Vesting period 2
Stock-based compensation
Vesting period								2 years
Officers and directors | RSUs
Stock-based compensation
Number of units granted | shares							896,583
Aggregate fair value of awards granted							$ 6,300,000
Description of vesting terms							The RSUs are subject to service conditions (vesting of 33.34% on May 1, 2021, with the remaining units vesting on each three-month anniversary, thereafter, fully vesting on May 1, 2023) and performance conditions in the form of a liquidity event.
Officers and directors | RSUs | Vesting period 1
Stock-based compensation
Vesting percentage							33.34%
Officers and directors | Stock options
Stock-based compensation
Number of options exchanged for restricted stock units | shares							787,499
Exercise price | $ / shares							$ 8.98
Unamortized stock-based compensation expense, canceled stock options							$ 4,300,000
Incremental cost associated with modification of plan							$ 1,900,000
Director | RSUs
Stock-based compensation
Number of units granted | shares		51,583			35,333
Aggregate fair value of awards granted		$ 124,000			$ 200,000
Description of vesting terms		The RSUs are subject to service conditions and vest 33.34% on the one year anniversary of the grant date, with the remaining units vesting on each three-month anniversary thereafter.			The RSUs are subject to service conditions (vesting of 33.34% on August 26, 2022, the consummation date of the Company’s initial public offering, with the remaining units vesting 66.66% over the next two calendar years on each three-month anniversary thereafter).
Director | RSUs | Vesting period 1
Stock-based compensation
Vesting percentage		33.34%			33.34%
Vesting period		1 year
Director | RSUs | Vesting period 2
Stock-based compensation
Vesting percentage					66.66%
Vesting period					2 years
Chief Financial Officer | RSUs
Stock-based compensation
Number of units granted | shares	135,000			15,000
Aggregate fair value of awards granted	$ 300,000			$ 100,000
Chief Financial Officer | RSUs | Vesting period 1
Stock-based compensation
Vesting percentage	33.34%
Vesting period	1 year
Chief Financial Officer | RSUs | Vesting period 2
Stock-based compensation
Vesting period	2 years
Consultants | RSUs
Stock-based compensation
Number of units granted | shares									87,000
Aggregate fair value of awards granted									$ 200,000
Consultants | RSUs | Minimum
Stock-based compensation
Vesting period									4 months
Consultants | RSUs | Maximum
Stock-based compensation
Vesting period									11 months
RSU Plan Modification | RSUs
Stock-based compensation
Number of units granted | shares								1,051,167
Description of vesting terms								RSUs granted on January 1, 2022 to provide that 33.34% of each of those RSUs would vest on May 1, 2022, with an additional 8.3325% of each grant vesting each quarter thereafter
Expiration term								6 months
Incremental cost associated with modification of plan								$ 5,500,000
RSU Plan Modification | RSUs | Vesting period 1
Stock-based compensation
Vesting percentage								33.34%
RSU Plan Modification | RSUs | Vesting period 2
Stock-based compensation
Vesting percentage								8.3325%

Stock-based compensation - Perf

Stock-based compensation - Performance-based Restricted Stock Units (Details) - Consultants - Performance-based Restricted Stock Units	Oct. 11, 2022 USD ($) shares
Stock-based compensation
Number of units granted | shares	25,000
Aggregate fair value of awards granted | $	$ 60,000

Stock-based compensation - Canc

Stock-based compensation - Canceled Stock Options (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Stock-based compensation
Stock-based compensation expense	$ 0.5	$ 1.3
Stock options
Stock-based compensation
Stock options outstanding	0	0
Unamortized stock-based compensation expense, canceled stock options	$ 0.2

Stockholders' Deficit - Amendme

Stockholders' Deficit - Amendment to Certificate of Incorporation (Details) - shares	Dec. 31, 2022	Aug. 30, 2022	Aug. 01, 2022	Dec. 31, 2021
Stockholders' Deficit
Common stock, shares authorized (in shares)	200,000,000	200,000,000		20,000,000
Preferred shares, shares authorized (in shares)	10,000,000	10,000,000		10,000,000
Series X Preferred Stock
Stockholders' Deficit
Preferred shares, shares authorized (in shares)	500,000	500,000	500,000

Stockholders' Deficit - Series

Stockholders' Deficit - Series Seed Preferred Stock (Details) - $ / shares	Dec. 31, 2022	Aug. 30, 2022	Aug. 05, 2022	Dec. 31, 2021	Apr. 15, 2020
Stockholders' Deficit
Preferred shares, shares authorized (in shares)	10,000,000	10,000,000		10,000,000
Preferred shares, par value (in dollars per share)	$ 0.0001			$ 0.0001
Series Seed preferred shares
Stockholders' Deficit
Preferred shares, shares authorized (in shares)				2,696,439	2,696,439
Preferred shares, par value (in dollars per share)					$ 0.0001
Preferred shares, shares issued (in shares)	0			2,696,439
Preferred shares, shares outstanding (in shares)	0			2,696,439
Common shares issuable upon conversion of preferred stock				1,557,435
Number of common shares issued on conversion			1,557,435

Stockholders' Deficit - Common

Stockholders' Deficit - Common Stock (Details) - USD ($)					12 Months Ended
	Feb. 07, 2023	Nov. 17, 2022	Aug. 30, 2022	Aug. 09, 2022	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022	Aug. 05, 2022
Stockholders' Deficit
Common stock, par value (in dollars per share)					$ 0.0001	$ 0.0001		$ 0.0001
Common stock, shares issued (in shares)					12,035,592	6,913,492
Common stock, shares outstanding (in shares)					12,035,592	6,913,492
Shares settled liability					$ 160,949
Value of common stock issued for consulting services					100,000
Value of common stock issued in connection with conversion of notes payable					$ 1,159,500	$ 3,412,782
Common Stock
Stockholders' Deficit
Issuance of common stock for consulting services					57,143
Value of common stock issued for consulting services					$ 6
Number of shares issued in connection with conversion of notes payable					238,094	1,137,594
Value of common stock issued in connection with conversion of notes payable					$ 24	$ 113
Equity Purchase Agreement with Lincoln Park Capital Fund, LLC
Stockholders' Deficit
Value of new shares which may be issued		$ 20,000,000
Term of agreement		30 months
Aggregate fair value		$ 300,000
Upfront fees paid		35,000
Legal fees paid		$ 195,997
Issuance of stock	1,200,000
Proceeds from issuance of shares, net of fees	$ 2,800,000
Equity Purchase Agreement with Lincoln Park Capital Fund, LLC | Common Stock
Stockholders' Deficit
Issuance of stock		198,974
Initial public offering
Stockholders' Deficit
Common stock, par value (in dollars per share)				$ 0.0001
Net proceeds from issuance of shares			$ 6,000,000	$ 6,000,000
Underwriter fees and commissions			800,000	800,000
Offering costs			$ 1,400,000	$ 1,400,000
Initial public offering | Common Stock
Stockholders' Deficit
Price per share				$ 5.25
Number of warrants issued			108,181
Exercise price of warrants			$ 6.5625
Overallotment option
Stockholders' Deficit
Common stock, par value (in dollars per share)				$ 0.0001
Underwriters' option term				45 days
Overallotment option | Common Stock
Stockholders' Deficit
Issuance of stock				1,545,454
Price per share				$ 4.83
Additional shares which may be purchased during the option period				231,818
2022 Notes
Stockholders' Deficit
Exercise price of warrants							$ 7
Number of additional shares to be issued to noteholders					23,808
Number of shares to be issued for consulting services					7,026

Stockholders' Deficit - Serie_2

Stockholders' Deficit - Series X Preferred Stock (Details) - USD ($)					12 Months Ended
	Aug. 26, 2022	Aug. 03, 2022	Aug. 02, 2022	Aug. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Aug. 30, 2022	Dec. 31, 2021
Stockholders' Deficit
Preferred shares, shares authorized (in shares)					10,000,000		10,000,000	10,000,000
Preferred shares, par value (in dollars per share)					$ 0.0001			$ 0.0001
SAFE liability			$ 5,000,000					$ 4,824,217
Number of warrants converted into shares		750,000
Warrants
Stockholders' Deficit
Number of warrants converted into shares	750,000
Series X Preferred Stock
Stockholders' Deficit
Preferred shares, shares authorized (in shares)				500,000	500,000		500,000
Preferred shares, par value (in dollars per share)			$ 0.0001	$ 0.0001
Preferred stock, stated value, (per share)				$ 100
Percent of beneficial ownership limitation				9.99%
Number of shares issued			3,200
Number of shares on conversion of preferred stock			100,000
Conversion of Series X preferred stock to common stock (in shares)	(61,689)
Preferred Stock | Series X Preferred Stock
Stockholders' Deficit
Number of shares issued in exchange for warrants	1,250	1,250			1,250
Conversion of Series X preferred stock to common stock (in shares)					(61,689)
Number of Series X preferred stock issued in connection with conversion of notes payable					2,806
Common Stock
Stockholders' Deficit
Number of shares issued in exchange for warrants	350,000	350,000			350,000
Conversion of Series X preferred stock to common stock (in shares)	1,175,000				1,175,000
Private Placement | Series X Preferred Stock
Stockholders' Deficit
Number of shares issued			3,200
Price per share			$ 100
Net proceeds from issuance of shares			$ 300,000
2022 Notes
Stockholders' Deficit
Conversion price (per share)	$ 4.20					$ 7
2022 Notes | Series X Preferred Stock
Stockholders' Deficit
Conversion price (per share)	$ 5.25

Income Taxes - Provision for in

Income Taxes - Provision for income taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Operating Loss Carryforwards	$ 14,100,000
Valuation allowance	4,830,000	$ 2,207,000
Increase (decrease) in valuation allowance	2,600,000
Research and development tax credit carryforwards
Income Taxes
Tax credit carryforwards	$ 29,000

Income Taxes - Deferred Taxes (

Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Net operating loss carryforwards	$ 3,687	$ 2,030
Research & development credits	29	11
Accrued expenses		166
Equity based compensation	667
Capitalized research costs	447
Total deferred tax assets	4,830	2,207
Valuation allowance	(4,830)	(2,207)
Net deferred tax asset

Income Taxes - Reconciliation (

Income Taxes - Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Tax provision at statutory rate	21%	21%
State taxes, net of federal benefit	5%	3.70%
Share based compensation	(1.80%)	(9.20%)
Debt conversion	(7.80%)	(6.70%)
Permanent items	(0.70%)	0.40%
Other	(0.70%)
Warrant liability	2.70%	(0.90%)
Change in valuation reserve	(17.70%)	(8.30%)
Income taxes provision (benefit)	0%	0%

Related party transactions (Det

Related party transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Related party transactions
Common stock, shares outstanding (in shares)	12,035,592	6,913,492
Accounts payables	$ 20,000
Tardimed
Related party transactions
Number of shares outstanding which are held by a related party	7,241,745	5,775,898
Percentage of voting shares outstanding held by related party	60.20%	83.50%
Management fees | Tardimed
Related party transactions
Allocated expenses	$ 240,000	$ 240,000

Subsequent events (Details)

Subsequent events (Details) - USD ($)		12 Months Ended
	Feb. 02, 2023	Dec. 31, 2022
Subsequent events
Net proceeds from issuance of notes		$ 1,240,970
2023 Note
Subsequent events
Face amount of debt	$ 3,700,000
Net proceeds from issuance of notes	2,500,000
Subsequent Event | 2023 Note
Subsequent events
Face amount of debt	3,700,000
Net proceeds from issuance of notes	$ 2,500,000