CEL-SCI (CVM) 10-K 21 Dec 23 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Sep. 30, 2023	Dec. 08, 2023	Mar. 31, 2022
Cover [Abstract]
Entity Registrant Name	CEL-SCI CORPORATION
Entity Central Index Key	0000725363
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--09-30
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		49,980,804
Entity Public Float			$ 97,639,295
Document Annual Report	true
Document Transition Report	false
Document Fin Stmt Error Correction Flag	false
Entity File Number	1-11889
Entity Tax Identification Number	84-0916344
Entity Address Address Line 1	8229 Boone Blvd.
Entity Address Address Line 2	Suite 802
Entity Address City Or Town	Vienna
Entity Address State Or Province	VA
Entity Address Postal Zip Code	22182
City Area Code	703
Icfr Auditor Attestation Flag	false
Auditor Name	BDO USA, P.C.
Auditor Location	Potomac, Maryland
Auditor Firm Id	243
Local Phone Number	506-9460
Security 12b Title	Common Stock
Trading Symbol	CVM
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	CO

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Sep. 30, 2023	Sep. 30, 2022
Current assets:
Cash and cash equivalents	$ 4,145,735	$ 22,672,138
Prepaid expenses	520,368	762,063
Supplies used for R&D and manufacturing	2,248,072	2,001,715
Deposits	4,245	0
Total current assets	6,918,420	25,435,916
Finance lease right of use assets	9,131,987	10,937,797
Operating lease right of use assets	1,698,243	1,884,464
Property and equipment, net	10,188,126	11,889,029
Patent costs, net	197,704	212,201
Deposits	2,319,101	0
Supplies used for R&D and manufacturing	74,669	164,299
Total assets	30,528,250	50,523,706
Current Liabilities:
Accounts payable	2,009,786	1,618,290
Accrued expenses	1,049,581	842,492
Due to employees	557,244	471,488
Finance lease obligation, current portion	1,771,804	1,560,553
Operating lease obligation, current portion	197,431	170,928
Total current liabilities	5,585,846	4,663,751
Finance lease liabilities, net of current portion	9,949,565	11,721,368
Operating lease liabilities, net of current portion	1,652,949	1,850,380
Other liabilities	125,000	125,000
Total liabilities	17,313,360	18,360,499
STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value; 200,000 shares authorized; 0 shares issued and outstanding Common stock, $.01 par value; 600,000,000 shares authorized; 47,422,304 and 43,448,317 shares issued and outstanding at September 30, 2023 and September 30, 2022, respectively	474,223	434,484
Additional paid-in capital	499,832,063	486,625,816
Accumulated deficit	(487,091,396)	(454,897,093)
Total stockholders' equity	13,214,890	32,163,207
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 30,528,250	$ 50,523,706

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2023	Sep. 30, 2022
BALANCE SHEETS
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	47,422,304	43,448,317
Common stock, shares outstanding	47,422,304	43,448,317
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	200,000	200,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating expenses:
Research and development	$ 22,471,496	$ 25,355,346
General & administrative	9,004,578	10,707,447
Total operating expenses	31,476,074	36,062,793
Operating loss	(31,476,074)	(36,062,793)
Gain on derivative instruments	0	366,791
Other non-operating losses	0	(30,793)
Interest expense, net	(675,416)	(1,081,034)
Other (expense) income	(42,813)	107,148
Net loss	(32,194,303)	(36,700,681)
Modification of warrants	(171,552)	(929,122)
Net loss available to common shareholders	$ (32,365,855)	$ (37,629,803)
Net loss per common share - basic and diluted	$ (0.73)	$ (0.87)
Weighted average common shares outstanding - basic and diluted	44,479,865	43,148,888

STATEMENTS OF STOCKHOLDERS' EQU

STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Sep. 30, 2021		43,207,183
Balance, amount at Sep. 30, 2021	$ 56,534,226	$ 432,072	$ 474,298,566	$ (418,196,412)
Warrant exercises, shares		25,205
Warrant exercises, amount	171,814	$ 252	171,562	0
401(k) contributions paid in common stock, shares		52,882
401(k) contributions paid in common stock, amount	223,043	$ 528	222,515	0
Stock issued to nonemployees for service, shares		156,547
Stock issued to nonemployees for service, amount	693,493	$ 1,567	691,926	0
Equity based compensation - employees	11,389,932	$ 0	11,389,932	0
Option exercises, shares		6,500
Option exercises, amount	29,835	$ 65	29,770	0
Share issuance costs	178,455	0	178,455	0
Net loss	(36,700,681)	$ 0	0	(36,700,681)
Balance, shares at Sep. 30, 2022		43,448,317
Balance, amount at Sep. 30, 2022	32,163,207	$ 434,484	486,625,816	(454,897,093)
Warrant exercises, shares		217,752
Warrant exercises, amount	447,291	$ 2,177	445,114	0
401(k) contributions paid in common stock, shares		97,004
401(k) contributions paid in common stock, amount	207,593	$ 970	206,623	0
Stock issued to nonemployees for service, shares		249,997
Stock issued to nonemployees for service, amount	565,980	$ 2,500	563,480	0
Equity based compensation - employees	6,308,431	0	6,308,431	0
Share issuance costs	813,606	0	813,606	0
Net loss	(32,194,303)	$ 0	0	(32,194,303)
Proceeds from the sale of common stock, shares		3,413,234
Proceeds from the sale of common stock, amount	6,552,497	$ 34,132	6,518,365	0
2014 Incentive Stock Forfeited, shares		(4,000)
2014 Incentive Stock Forfeited, amount	(22,200)	$ (40)	(22,160)	0
Balance, shares at Sep. 30, 2023		47,422,304
Balance, amount at Sep. 30, 2023	$ 13,214,890	$ 474,223	$ 499,832,063	$ (487,091,396)

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (32,194,303)	$ (36,700,681)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,958,334	3,828,917
Non-cash lease expense	15,292	54,469
Share-based payments for services	655,740	762,261
Equity based compensation	6,286,231	11,389,932
Common stock contributed to 401(k) plan	207,593	223,043
Gain on short term investments	0	(615)
Gain on derivative instruments	0	(366,791)
Impairment loss on abandonment of patents	0	30,793
Loss on Receivables	0	54,922
(Increase)/decrease in assets:
Prepaid expenses	151,935	167,651
Supplies used for R&D and manufacturing	(156,727)	(159,430)
Deposits	(2,323,346)	1,910,917
Increase/(decrease) in liabilities:
Accounts payable	257,845	374,890
Accrued expenses	207,089	(16,724)
Due to employees	85,756	205,495
Net cash used in operating activities	(22,848,561)	(18,240,951)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from maturity of U.S. Treasury Bills	0	6,152,000
Purchases of property and equipment	(361,892)	(637,892)
Expenditures for patent costs	(10,370)	(22,741)
Net cash (used in) provided by investing activities	(372,262)	5,491,367
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	6,552,497	0
Payments of stock issuance costs	(744,913)	(169,445)
Proceeds from the exercise of warrants	447,291	101,225
Proceeds from the exercise of options	0	29,835
Proceeds from landlord funding of lease improvements	0	786,454
Payments on obligations under finance leases	(1,560,455)	(1,386,495)
Net cash provided by (used in) financing activities	4,694,420	(638,426)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(18,526,403)	(13,388,010)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	22,672,138	36,060,148
CASH AND CASH EQUIVALENTS, END OF YEAR	4,145,735	22,672,138
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Property and equipment purchases included in current liabilities	51,650	0
Capitalized patent costs included in current liabilities	13,211	0
Assets purchased under finance leases	0	32,409
Changes to right of use assets and liabilities	0	16,268
Finance lease obligation included in accounts payable	1,451	1,354
Prepaid consulting services paid with issuance of common stock	565,980	295,143
Financing costs included in current liabilities	77,703	9,010
Exercise of derivative liabilities	0	70,589
Accrued consulting services to be paid with common stock	55,000	55,000
Cash paid for interest	$ 1,062,564	$ 1,157,069

ORGANIZATION

ORGANIZATION	12 Months Ended
	Sep. 30, 2023
ORGANIZATION
ORGANIZATION	1. ORGANIZATION CEL-SCI Corporation (the Company) was incorporated on March 22, 1983, in the state of Colorado, to finance research and development in biomedical science and ultimately to engage in marketing and selling products. The Company is focused on finding the best way to activate the immune system to fight cancer and infectious diseases. The Company has announced results from its Phase III study for its lead investigational therapy, Multikine® (Leukocyte Interleukin, Injection), involving head and neck cancer, for which the Company has received Orphan Drug Status from the United States Food and Drug Administration (FDA). Unlike other immune therapies, Multikine is administered locally at the site of the tumor as a first line treatment right after diagnosis, before surgery and radiation. The goal is to help the intact immune system kill the micro metastases that usually cause recurrence of the cancer to improve outcomes and better overall survival rates for patients suffering from head and neck cancer. CEL-SCI is also investigating a peptide-based immunotherapy (CEL-4000) as a vaccine for rheumatoid arthritis using its LEAPS technology platform. CEL-SCI is in the process of completing pre-IND studies for CEL-4000.

LIQUIDITY

LIQUIDITY	12 Months Ended
	Sep. 30, 2023
LIQUIDITY
LIQUIDITY	2 . LIQUIDITY The Company has incurred significant costs since its inception for the acquisition of certain proprietary technology and scientific knowledge relating to the human immunological defense system, patent applications, research and development, administrative costs, construction and expansion of manufacturing and laboratory facilities and participation in clinical trials. The Company has funded such costs primarily with proceeds from loans and the public and private sale of its securities. The Company will be required to raise additional capital or find additional long-term financing to continue with its efforts to bring Multikine to market. The ability to raise capital may be dependent upon market conditions that are outside the control of the Company. The ability of the Company to obtain approval from the U.S. Food and Drug Administration (FDA) or from the regulators in Canada, the UK or Europe for the sale of products to be developed on a commercial basis is uncertain. Ultimately, the Company must complete the development of its products, obtain the appropriate regulatory approvals and obtain sufficient revenues to support its cost structure. To finance the Company through marketing approval, the Company plans to raise additional capital in the form of corporate partnerships, and debt and/or equity financings. The Company believes that it will be able to obtain additional financing because it has done so consistently in the past and because Multikine showed great survival benefit in the Phase III study in one of the two treatment arms for advanced primary head and neck cancer. However, there can be no assurance that the Company will be successful in raising additional funds on a timely basis or that the funds will be available to the Company on acceptable terms or at all. If the Company does not raise the necessary amounts of funding, it may have to curtail its operations until such time as it is able to raise the required funding. Due to the Company’s recurring losses from operations and future liquidity needs, there is substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents U.S. Treasury Bills – Supplies used for R&D and manufacturing Property and Equipment Patents Leases Derivative Instruments Accounting for Derivative Instruments and Hedging Activities The Company adopted Accounting Standards Update (ASU) 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 . The Company adopted 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): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options Stock-Based Compensation Compensation – Stock Compensation The Company has Incentive Stock Option Plans, Non-Qualified Stock Option Plans, Stock Compensation Plans, Stock Bonus Plans and an Incentive Stock Bonus Plan. These Plans are collectively referred to as the "Plans". All Plans have been approved by the Company’s stockholders. The Company’s stock options are not transferable, and the actual value of the stock options that an employee may realize, if any, will depend on the excess of the market price on the date of exercise over the exercise price. For options issued with service conditions only, the assumption for stock price volatility is based on the variance of daily closing prices of the Company’s stock. The risk-free interest rate assumption is based on the U.S. Treasury rate at the date of grant with the term equal to the expected life of the option. Forfeitures are accounted for when they occur. The expected term of options represents the period that options granted are expected to be outstanding and has been determined based on an analysis of historical exercise behavior. If any of the assumptions used in the Black-Scholes model change significantly, stock-based compensation expense for new awards may differ materially in the future from that recorded in the current period. Restricted stock granted under the Incentive Stock Bonus Plan and options granted under the 2021 and 2020 Non-Qualified Stock Option Plans are subject to service, performance and market conditions and meet the classification of equity awards. These awards were measured at fair value on the grant-dates using a Monte Carlo simulation for issuances where the attainment of performance criteria is uncertain. The total compensation cost will be expensed over the estimated requisite service period. Research and Development Costs Net Loss Per Common Share Earnings Per Share Concentration of Credit Risk Income Taxes The Company adopted ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is imposed on the repurchasing corporation itself, not its shareholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. However, for purposes of calculating the excise tax, repurchasing corporations are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the same taxable year. In addition, certain exceptions apply to the excise tax. The U.S. Department of the Treasury (the “Treasury”) has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax. Impairment of long-lived assets Use of Estimates New Accounting Pronouncements In June 2016, the Financial Accounting Standards Board issued ASU 2016-13, Financial Instruments–Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Other accounting standard updates effective for interim and annual periods beginning after September 30, 2023 are not expected to have a material impact on the Company’s financial statements.

WARRANTS AND NONEMPLOYEE OPTION

WARRANTS AND NONEMPLOYEE OPTIONS	12 Months Ended
	Sep. 30, 2023
WARRANTS AND NONEMPLOYEE OPTIONS
WARRANTS AND NON-EMPLOYEE OPTIONS	4. WARRANTS AND NON-EMPLOYEE OPTIONS The following warrants and non-employee options are outstanding at September 30, 2023: Warrant/Options Issue Date Shares Issuable upon Exercise of Warrants/ Options Exercise Price Expiration Date Series N 8/18/2008 85,339 $ 3.00 8/18/2024 Series UU 6/11/2018 93,603 $ 2.80 6/30/2024 Series X 1/13/2016 120,000 $ 9.25 7/13/2024 Series Y 2/15/2016 26,000 $ 12.00 8/15/2024 Series MM 6/22/2017 333,432 $ 1.86 6/22/2024 Series NN 7/24/2017 200,087 $ 2.52 7/24/2024 Series RR 10/30/2017 234,009 $ 1.65 10/30/2024 Consultant Options 7/28/2017 – 9/2/2023 110,000 $ 1.39 - $2.18 7/27/2027 – 9/1/2028 The following warrants and non-employee options are outstanding at September 30, 2022: Warrant/Options Issue Date Shares Issuable upon Exercise of Warrants/ Options Exercise Price Expiration Date Series N 8/18/2008 85,339 $ 3.00 8/18/2024 Series UU 6/11/2018 93,603 $ 2.80 6/30/2024 Series X 1/13/2016 120,000 $ 9.25 7/13/2024 Series Y 2/15/2016 26,000 $ 12.00 8/15/2024 Series MM 6/22/2017 333,432 $ 1.86 6/22/2024 Series NN 7/24/2017 200,087 $ 2.52 7/24/2024 Series RR 10/30/2017 251,761 $ 1.65 10/30/2022 Series SS 12/19/2017 200,000 $ 2.09 12/18/2022 Series TT 2/5/2018 600 $ 2.24 2/5/2023 Consultant Options 7/28/2017 – 11/18/2020 15,000 $ 2.18 - $11.61 11/17/2022 - 7/27/2027 A. Warrant Liabilities There were no warrant liabilities outstanding at September 30, 2023 and 2022. The gains/(losses) on the warrant liabilities for the years ended September 30 are as follows: 2023 2022 Series W warrants $ - $ - Series Z warrants - 64,787 Series ZZ warrants - - Series AA warrants - 276,035 Series BB warrants - - Series CC warrants - 24,372 Series HH warrants - 1,597 Net loss on warrant liabilities $ - $ 366,791 The Company reviews all outstanding warrants in accordance with the requirements of ASC 815 , Accounting for Derivative Instruments and Hedging Activities In accordance with ASC 815, derivative liabilities must be measured at fair value upon issuance and re-valued at the end of each reporting period through expiration. Any change in fair value between the respective reporting periods is recognized as a gain or loss in the statement of operations. Changes in Warrant Liabilities In February 2022, 100,000 Series AA warrants, with an exercise price of $13.75 and 200 Series HH warrants with an exercise price of $3.13, expired. In December 2021, 640 Series CC warrants, with an exercise price of $5.00, expired. In November 2021, 184,800 Series Z warrants, with an exercise price of $13.75, expired. Exercise of Warrant Liabilities No warrants recorded as liabilities were exercised during the year ended September 30, 2023. The following warrants recorded as liabilities were exercised during the year ended September 30, 2022: Warrants Warrants Exercised Exercise Price Proceeds Series CC 15,205 $ 5.00 $ 76,025 B. Equity Warrants Changes in Equity Warrants On October 28, 2022, the expiration date of the Series RR warrants was extended two years from October 30, 2022 to October 30, 2024. The incremental cost of this extension was approximately $172,000, which was recorded as a deemed dividend. The Series RR warrants are held by Geert Kersten, Patricia Prichep (current officers of the Company) and the de Clara Trust, of which the Company’s CEO, Geert Kersten, is a beneficiary. On June 13, 2022, the expiration dates of the Series N, Series X, Series Y, Series UU, Series MM and Series NN warrants were extended two years. The incremental costs of the Series N, Series X and Series Y warrant extensions were recorded as a deemed dividend and totaled approximately $294,000 for the year ended September 30, 2022. The Series N and Series X warrants are held by the de Clara Trust. The incremental cost of the Series MM, Series NN and Series UU warrant extensions of approximately $635,000 was recorded as a deemed dividend because there were no longer any notes payable associated with these warrants at the time of modification. The Series UU warrants and a portion of the Series MM and Series NN warrants are held by Geert Kersten, Patricia Prichep (current officers of the Company) and the de Clara Trust. Exercise of Equity Warrants The following equity warrants were exercised during the year ended September 30, 2023. Warrants Warrants Exercised Exercise Price Proceeds Series RR 17,752 $ 1.65 $ 29,291 Series SS 200,000 2.09 418,000 217,752 $ 447,291 The following equity warrants were exercised during the year ended September 30, 2022. Warrants Warrants Exercised Exercise Price Proceeds Series NN 10,000 $ 2.52 $ 25,200 C. Options and Shares Issued to Consultants The Company typically enters into consulting arrangements in exchange for common stock or stock options. During the years ended September 30, 2023 and 2022, the Company issued 249,997 and 156,547 shares, respectively, of common stock to consultants, all of which were restricted shares. Under these arrangements, during the periods presented, the common stock was issued with stock prices ranging from $1.26 to $11.20 per share. The weighted average grant price was $1.83 and $4.59, respectively, for stock issued during the years ended September 30, 2023 and 2022. During the years ended September 30, 2023 and 2022, the Company recorded total expense of approximately $656,000 and $762,000, respectively, relating to these consulting agreements. At September 30, 2023 and 2022, costs of approximately $205,000 and $295,000, respectively, are included in prepaid expenses. During the year ended September 30, 2023, the Company issued 100,000 options to a consultant to purchase common stock with an exercise price of $1.39. These options vest 50% on September 2, 2024 and 50% on September 2, 2025 and expire on September 1, 2028. No options were issued to consultants during the year ended September 30, 2022. As of September 30, 2023, 110,000 options issued to consultants as payment for services remained outstanding, all of which were issued from the Non-Qualified Stock Option Plan.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Sep. 30, 2023
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT	5 . PROPERTY AND EQUIPMENT Property and equipment consisted of the following at September 30: 2023 2022 Research equipment $ 4,109,070 $ 4,095,022 Furniture and equipment 99,296 99,296 Leasehold improvements 13,924,724 13,544,394 18,133,090 17,738,712 Accumulated depreciation and amortization (7,944,964 ) (5,849,683 ) Net property and equipment $ 10,188,126 $ 11,889,029 Depreciation expense for the years ended September 30, 2023 and 2022 totaled approximately $2,114,000 and $1,977,000 respectively.

PATENTS

PATENTS	12 Months Ended
	Sep. 30, 2023
PATENTS
PATENTS	6 . PATENTS Patents consist of the following at September 30: 2023 2022 Patents $ 853,445 $ 893,833 Accumulated amortization (655,741 ) (681,632 ) Patents, net $ 197,704 $ 212,201 During the years ended September 30, 2023 and 2022, there was no impairment of patent costs. The weighted average amortization period for patents is approximately 8 years. Amortization expense for the years ended September 30, 2023 and 2022 totaled approximately $38,000 and $49,000, respectively. The total estimated future amortization is as follows: Years ending September 30, 2024 $ 32,000 2025 29,000 2026 25,000 2027 22,000 2028 19,000 Thereafter 71,000 $ 198,000

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2023
INCOME TAXES
INCOME TAXES	7 . INCOME TAXES At September 30, 2023 and 2022, the Company had net deferred tax assets of $60.0 million and $52.9 million, respectively. Due to uncertainties surrounding the Company’s ability to generate future taxable income to realize these assets, a full valuation allowance has been established to offset the net deferred tax assets. In assessing the realization of deferred tax assets, management considered whether it was more likely than not that some, or all, of the deferred tax assets will be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income. Management has considered the history of the Company’s operating losses and believes that the realization of the benefit of the deferred tax assets cannot be reasonably assured. Pursuant to Section 382 of the Internal Revenue Code, or IRC, annual use of the Company’s net operating loss (NOL) carryforwards may be limited in the event a cumulative change in ownership of more than 50% occurs within a three-year period. Such ownership change could result in annual limitations on the utilization of tax attributes, including NOL carryforwards and tax credits. The Company performed an estimated analysis to determine if any additional ownership changes occurred during the year ended September 30, 2023 and no such changes were identified. If changes in ownership occur after year end, NOL and tax credit carryforwards could be eliminated or restricted. If eliminated, the related asset would be removed from the deferred tax asset schedule with a corresponding reduction in the valuation allowance. The Company had federal NOL carryforwards of approximately $123.1 million and $100.2 million at September 30, 2023 and 2022, respectively. Approximately $19.2 million of the NOL carryforwards begin to expire during the year ended September 30, 2023 and become fully expired by 2038 and approximately $103.9 million of NOL carryforwards, which were generated after the enactment of Tax Cuts and Jobs Act, have an indefinite life. In addition, the Company has a general business credit as a result of the credit for increasing research activities (“R&D credit”) of approximately $1.2 million at September 30, 2023 and 2022. The R&D credit expires during the fiscal year ended 2029. Significant components of the Company’s deferred tax assets and liabilities as of September 30, 2023 and 2022 are listed below: 2023 2022 NOL carryforwards $ 30,829,000 $ 25,346,000 Capitalized R&D 15,196,000 15,042,000 Stock-based compensation 11,579,000 10,442,000 Lease liabilities 3,400,000 3,872,000 R&D credit 1,221,000 1,221,000 Vacation and other 298,000 307,000 Fixed assets and intangibles 168,000 - Total deferred tax assets 62,691,000 56,230,000 Right of use assets (2,713,000 ) (3,244,000 ) Fixed assets and intangibles - (44,000 ) Total deferred tax liabilities (2,713,000 ) (3,288,000 ) Net deferred tax asset 59,978,000 52,942,000 Valuation allowance (59,978,000 ) (52,942,000 ) Ending balance $ - $ - The Company has no federal or state current or deferred tax expense or benefit. The Company’s effective tax rate differs from the applicable federal statutory tax rate. The reconciliation of these rates is as follows for the years ended September 30: 2023 2022 Federal rate 21.00 % 21.00 % State rate change (1.58 ) (1.67 ) State tax rate, net of federal benefit 4.05 4.34 Other adjustments (1.62 ) (0.28 ) Permanent differences 0.00 0.21 Change in valuation allowance (21.85 ) (23.61 ) Effective tax rate 0.00 % 0.00 % The Company applies the provisions of ASC 740, Accounting for Uncertainty in Income Taxes,

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	12 Months Ended
	Sep. 30, 2023
EQUITY-BASED COMPENSATION
EQUITY-BASED COMPENSATION	8 . EQUITY-BASED COMPENSATION The Company recognized the following expenses for options issued or vested and restricted stock awarded during the year: Year Ended September 30, 2023 2022 Employees $ 6,286,231 $ 11,389,932 Non-employees $ 655,740 $ 762,261 As of September 30, 2023, the total compensation cost related to non-vested options and restricted stock awarded to employees and non-employees not yet recognized was approximately $6.9 million and $0.3 million, respectively, and the weighted-average period over which it is expected to be recognized is 1.78 and 0.94 years, respectively. During the years ended September 30, 2023 and 2022 the fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions. 2023 2022 Expected stock price volatility 99.18 – 100.18% 96.37 – 99.26% Risk-free interest rate 3.41 – 4.25% 1.50 – 3.43% Expected life of options 9.63 – 9.66 years 9.67 – 9.69 years Expected dividend yield - - Non-Qualified Stock Option Plan s During the year ended September 30, 2023, the Company adopted the 2023 Non-Qualified Stock Option Plan, which provides for the issuance of up to 2,000,000 options to purchase shares of common stock. On August 8, 2023, the Company granted 1,958,500 options to purchase shares of common stock from the 2023 Non-Qualified Stock Option Plan to officers, directors and employees. Each option entitles the holder to purchase one share of the Company’s common stock at a price of $1.36 per share, vests in three equal annual installments commencing one year after the grant date and expires on August 7, 2033. During the year ended September 30, 2022, the Company adopted the 2022 Non-Qualified Stock Option Plan, which provides for the issuance of up to 2,000,000 options to purchase shares of common stock. On November 19, 2021, the Company granted 250,000 performance-based stock options from the 2020 Non-Qualified Stock Option Plan to officers. Each option entitles the holder to purchase one share of the Company’s common stock at a price of $10.48 per share, the fair value on the date of issuance. The stock options will vest 100% upon approval of the first marketing application for any pharmaceutical based upon the Company’s Multikine technology in any of the USA, Canada, UK, Germany, France, Italy, Spain, Japan, or Australia. None of the options will be exercisable before November 19, 2022. All options which have not vested as of November 18, 2031 will be canceled. On the grant date, the options were valued using a Monte Carlo Simulation approach. A Monte Carlo Simulation is a statistical technique that is used to model probabilistic systems and establish the probabilities for a variety of outcomes. However, because attainment of the performance condition cannot be considered probable, no compensation cost was recognized relating to these options as of September 30, 2023. Management will re-assess the probability of achieving the performance condition at each reporting date. At September 30, 2023, the Company has collectively authorized the issuance of 15,787,200 options to purchase shares of common stock under its Non-Qualified Stock Option Plans. Options typically vest over a three-year period and expire no later than ten years after the grant date. Terms of the options were determined by the Company’s Compensation Committee which administers the plans. The Company’s employees, directors, officers, and consultants or advisors are eligible to be granted options under the Non-Qualified Stock Option Plans. Incentive Stock Option Plan s Activity in the Company’s Non-Qualified and Incentive Stock Option Plans for the two years ended September 30, 2023 is summarized as follows: Non-Qualified and Incentive Stock Option Plans Outstanding Exercisable Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at September 30, 2021 11,049,709 $ 10.08 7.93 $ 54,843,283 5,540,028 $ 5.77 6.96 $ 43,589,598 Vested - 1,547,703 $ 8.60 Granted(a) 2,040,750 $ 4.24 - Exercised (6,500 ) $ 4.59 $ 45,725 (6,500 ) $ 4.59 Forfeited (106,331 ) $ 11.53 - Expired (13,614 ) $ 97.50 (13,614 ) $ 97.50 Outstanding at September 30, 2022 12,964,014 $ 9.06 7.35 $ 1,866,240 7,067,617 $ 6.21 6.21 $ 1,866,105 Vested - 952,256 $ 8.41 Granted (b) 2,065,500 $ 1.37 - Exercised - - Forfeited 213,165 $ 9.19 - Expired (58,791 ) $ 61.05 (58,791 ) $ 61.05 Outstanding at September 30, 2023 14,757,558 $ 7.78 6.81 $ 0 7,961,082 $ 6.07 5.60 $ 0 (a) The weighted average grant date fair value was $3.01. (b) Includes 1,965,500 performance based options issued to officers and directors, 100,000 options issued to consultants. The weighted average grant date fair value was $1.22. A summary of the status of the Company’s un-vested options for the two years ended September 30, 2023 is presented below: Number of Options Weighted Average Grant Date Fair Value Unvested at September 30, 2021 5,509,681 $ 5.17 Vested (1,547,703 ) $ 7.37 Granted 2,040,750 Forfeited (106,331 ) Unvested at September 30, 2022 5,896,397 $ 3.63 Vested (952,256 ) $ 7.30 Granted 2,065,500 Forfeited (213,165 ) Unvested at September 30, 2023 6,796,476 $ 2.25 Incentive Stock Bonus Plan A summary of the status of the Company’s restricted common stock issued from the Incentive Stock Bonus Plan for the two years ended September 30, 2023 is presented below: Number of Shares Weighted Average Grant Date Fair Value Unvested at September 30, 2021 151,250 $ 13.75 Forfeited - Vested - Unvested at September 30, 2022 151,250 $ 13.75 Forfeited (4,000 ) Vested - Unvested at September 30, 2023 147,250 $ 13.75 Stock Bonus Plans Stock Compensation Plans

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN	12 Months Ended
	Sep. 30, 2023
EMPLOYEE BENEFIT PLAN
EMPLOYEE BENEFIT PLAN	9 . EMPLOYEE BENEFIT PLAN The Company maintains a defined contribution retirement plan, qualifying under Section 401(k) of the Internal Revenue Code, subject to the Employee Retirement Income Security Act of 1974, as amended, and covering substantially all Company employees. Each participant’s contribution is matched by the Company with shares of common stock that have a value equal to 100% of the participant’s contribution, not to exceed the lesser of $10,000 or 6% of the participant’s total compensation. The Company’s contribution of common stock is valued each quarter based upon the closing bid price of the Company’s common stock. During the year ended September 30, 2023, 97,004 shares were issued to the Company’s 401(k) plan for a cost of approximately $208,000. During the year ended September 30, 2022, 52,882 shares were issued to the Company’s 401(k) plan for a cost of approximately $223,000.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Sep. 30, 2023
Commitments and contingencies
COMMITMENTS AND CONTINGENCIES	10 . COMMITMENTS AND CONTINGENCIES Clinical Research Agreements In April 2013, the Company entered into a co-development and revenue sharing agreement with Ergomed. Under the agreement, Ergomed will contribute up to $10 million towards the Company’s Phase III clinical study in the form of offering discounted clinical services in exchange for a single digit percentage of milestone and royalty payments, up to a specific maximum amount. In October 2015, the Company entered into a second co-development and revenue sharing agreement with Ergomed for an additional $2 million, for a total of $12 million. The Company accounted for the co-development and revenue sharing agreement in accordance with ASC 808, Collaborative Arrangements Research and Development Lease Agreements The Company leases a manufacturing facility near Baltimore, Maryland (the San Tomas lease). The building was remodeled in accordance with the Company’s specifications so that it can be used by the Company to manufacture Multikine for the Company’s Phase III clinical trial and sales of the drug if approved by the FDA or regulators in Canada, the UK or Europe. The lease is for a term of twenty years and requires annual base rent to escalate each year at 3%. The Company is required to pay all real estate and personal property taxes, insurance premiums, maintenance expenses, repair costs and utilities. The lease allows the Company, at its election, to extend the lease for two ten-year periods or to purchase the building at the end of the 20-year lease, which expires in October 2028. The renewal options are not included in the calculation of the right of use asset and lease liability because exercise of those options is not reasonably certain. As of September 30, 2023 and 2022, respectively, the net book value of the finance lease right of use asset is approximately $9.1 million and $10.9 million and the balance of the finance lease liability is approximately $11.7 million and $13.3 million, of which approximately $1.8 million and $1.6 million is current. These amounts include the San Tomas lease as well as several other smaller finance leases for office equipment. During the years ended September 30, 2023 and 2022, the finance right of use assets are being depreciated using a straight-line method over the underlying lease terms and depreciation expense totaled approximately $1.8 million and $1.8 million, respectively. Total cash paid related to finance leases during the years ended September 30, 2023 and 2022, respectively, was approximately $2.6 million and $2.5 million, of which approximately $1.1 million and $1.2 million was for interest in both years. The weighted average discount rate of the Company’s finance leases is 8.44% and the weighted average time to maturity is 5.09 years. In August 2020, the Company entered into an amendment to the San Tomas lease agreement under which the landlord agreed to allow the Company to substantially upgrade the manufacturing facility in preparation for the potential commercial production of Multikine. The upgrades were completed and the improvements were placed in service in October 2021. The total cost of the upgrades was $11.1 million. The landlord agreed to finance the final $2.4 million of the costs incurred which will be repaid through increased lease payments over the remaining lease term starting on March 1, 2021. The repayment includes a base rent which escalates at 3% each year plus interest that accrues at 13.75% per year. The Company remeasured the lease liability to account for the modified payments using an 8.45% incremental borrowing rate (IBR). The rate was determined using a synthetic credit rating analysis prepared by an outside valuation specialist. Additionally, this financing is considered to be a lease incentive from the landlord and has been included in the calculation of the lease liability as it is realized. The entire $2.4 million was received from the landlord as of September 30, 2022. The leasehold improvements are recorded in property and equipment and are being amortized over the remaining lease term. During June 2021, the Company determined that it used an incorrect discount rate to calculate the opening ROU asset and lease liability balances upon adoption of ASC 842. Management engaged an outside valuation specialist to perform a synthetic credit rating analysis which resulted in a revised rate to be used upon adoption of ASC 842 of 10.19% compared to the previously used rate of 8.80%. This change resulted in an immaterial difference to the September 30, 2020 financial statements, and was corrected in the quarterly period ended June 30, 2021 as an out of period adjustment. The Company was required to deposit the equivalent of one year of base rent in accordance with the original lease. Because the Company met the minimum cash balance required by the lease, the full balance of the deposit was returned to the Company in January 2022. However, on January 11, 2023, the Company was required to deposit approximately $2.3 million to its landlord, equivalent to one year’s rent, for falling back below the stipulated cash threshold in accordance with the San Tomas lease. The amount will be included as an asset on the balance sheet until the Company meets the minimum cash balance required and the deposit is returned. Approximate future minimum lease payments under finance leases as of September 30, 2023 are as follows: Year ending September 30, 2024 2,655,000 2025 2,740,000 2026 2,832,000 2027 2,923,000 2028 3,015,000 Thereafter 252,000 Total future minimum lease obligation 14,417,000 Less imputed interest on finance lease obligations (2,696,000 ) Net present value of lease finance lease obligations – current portion 1,772,000 Net present value of lease finance lease obligations – non-current portion $ 9,949,000 The Company leases two facilities under operating leases. The lease for the Company’s office headquarters will expire on November 30, 2025. The lease for its research and development laboratory and will expire on February 29, 2032. The operating leases include escalating rental payments. The Company is recognizing the related rent expense on a straight-line basis over the terms of the leases. As of September 30, 2023, the net book value of the operating lease right of use asset is approximately $1.7 million and the balance of the operating lease liability is approximately $1.9 million, of which approximately $0.2 million is current. As of September 30, 2022, the net book value of the operating lease right of use asset is approximately $1.9 million and the balance of the operating lease liability is approximately $2.1 million, of which approximately $0.2 million is current. During the years ended September 30, 2023 and 2022 the Company incurred lease expense under operating leases of approximately $0.4 million each year. Total cash paid related to operating leases during the years ended September 30, 2023 and 2022 was approximately $0.3 million each year. The weighted average discount rate of the Company’s operating leases is 10.2% and the weighted average time to maturity is 7.74 years. As of September 30, 2023, future minimum lease payments on operating leases are as follows: Year ending September 30, 2024 357,000 2025 366,000 2026 287,000 2027 277,000 2028 285,000 Thereafter 1,040,000 Total future minimum lease obligation 2,612,000 Less imputed interest on operating lease obligation (762,000 ) Net present value of operating lease obligation – current portion 197,000 Net present value of operating lease obligation – non-current portion $ 1,653,000 Vendor Obligations The Company has contingent obligations with vendors for work that will be completed in relation to the Phase III clinical trial. The timing of these obligations cannot be determined at this time. The Company estimates it will incur additional expenses of approximately $0.7 million for the remainder of the Phase III clinical trial and the filing of the clinical study report with the FDA. This estimate is based only on the information currently available from the Clinical Research Organizations responsible for managing the Phase III clinical trial and does not include other related costs.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Sep. 30, 2023
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	1 1 . RELATED PARTY TRANSACTIONS During the year ended September 30, 2023, no restricted shares of the Company’s common stock were purchased by related parties. On October 28, 2022, the expiration date of the Series RR warrants was extended two years from October 30, 2022 to October 30, 2024 (Note 4). The incremental cost of this extension was approximately $172,000, which was recorded as a deemed dividend. The Series RR warrants are held by Geert Kersten, Patricia Prichep (current officers of the Company) and the de Clara Trust, of which the Company’s CEO, Geert Kersten, is a beneficiary. On June 13, 2022, the expiration dates of the Series N, Series X, Series Y, Series UU, Series MM and Series NN warrants were extended two years (Note 4). The incremental costs of the warrant extensions were recorded consistent with the accounting for the initial warrant issuances. The incremental costs of the Series N, Series X and Series Y warrant extensions were recorded as a deemed dividend and totaled approximately $294,000 for the year ended September 30, 2022. The Series N and Series X warrants are held by the de Clara Trust, of which the Company’s CEO, Geert Kersten, is a trustee and beneficiary. The incremental cost of the Series MM, Series NN and Series UU warrant extensions of approximately $635,000 was recorded as a deemed dividend because there are no longer any notes payable associated with these warrants at the time of modification. The Series UU warrants and a portion of the Series MM and Series NN warrants are held by Geert Kersten, Patricia Prichep and the de Clara Trust.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	12 Months Ended
	Sep. 30, 2023
STOCKHOLDERS EQUITY
STOCKHOLDERS' EQUITY	1 2 . STOCKHOLDERS’ EQUITY Exercise of Warrants During the years ended September 30, 2023 and 2022, the Company received proceeds of approximately $0.4 million and $0.1 million, respectively, from the exercise of warrants, as detailed in Note 4. Upon exercise, 217,752 and 25,205 shares of common stock were issued during the years ended September 30, 2023 and 2022, respectively. Sales of Securities On May 2, 2023, the Company sold 913,234 shares of common stock at a public offering price of $1.70 per share and received aggregate proceeds of approximately $1.55 million. On July 20, 2023, the Company sold 2,500,000 shares of common stock at a public offering price of $2.00 per share and received aggregate proceeds of approximately $5.0 million. There were no sales of securities during the fiscal year ended September 30, 2022. Other Equity Transactions The Company entered into Securities Purchase Agreements (SPA) with Ergomed plc, one of the Company’s Clinical Research Organizations responsible for managing the Company’s Phase III clinical trial, to facilitate payment of amounts due Ergomed. Under the Agreements, the Company issued Ergomed shares of common stock and the net proceeds from the sales of those shares reduces outstanding amounts due Ergomed. Upon issuance, the Company expenses the full value of the shares as Other non-operating gain/loss and subsequently offsets the expense as amounts are realized through the sale by Ergomed and reduces accounts payable to Ergomed. During the years ended September 30, 2023 and 2022, CEL-SCI did not issue Ergomed any shares of common stock. Additionally, no shares were sold during the years ended September 30, 2023 and 2022. All outstanding shares have been resold as of September 30, 2023 and 2022 and the Company had approximately $0 and $22,000 in amounts remaining in prepaid to Ergomed as of September 30, 2023 and 2022, respectively.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Sep. 30, 2023
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	1 3 . FAIR VALUE MEASUREMENTS In accordance with the provisions of ASC 820, “ Fair Value Measurements ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to active markets for identical assets and liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The Company classifies fair value balances based on the observability of those inputs. The three levels of the fair value hierarchy are as follows: o Level 1 – Observable inputs such as quoted prices in active markets for identical assets or liabilities o Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and amounts derived from valuation models where all significant inputs other than quoted prices that are observable for the asset or liability are observable in active markets o Level 3 – Unobservable inputs that reflect management’s assumptions For disclosure purposes, assets and liabilities are classified in their entirety in the fair value hierarchy level based on the lowest level of input that is significant to the overall fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement within the fair value hierarchy levels. The Company purchased short-term T-bills during the year ended September 30, 2021 that are classified as trading securities. Quoted market prices were applied to determine the fair value of short-term investments, therefore they were categorized as Level 1 on the fair value hierarchy. The T-bills were recorded at fair market value, which includes an unrealized gain of approximately $6,000. The T-bills matured in December 2021 and yield a weighted average interest rate of 0.10%. The Company is not holding any T-bills as of September 30, 2023 and September 30, 2022. As of September 30, 2023 and 2022, there were no derivative liabilities outstanding. The following sets forth the reconciliation of beginning and ending balances related to fair value measurements using significant unobservable inputs (Level 3), as of September 30: 2023 2022 Beginning balance $ - $ 437,380 Issuances - - Exercises - (70,589 ) Net realized and unrealized derivative loss - (366,791 ) Ending balance $ - $ - The fair values of the Company’s derivative instruments disclosed above under Level 3 are primarily derived from valuation models where significant inputs such as historical price and volatility of the Company’s stock were used.

NET LOSS PER COMMON SHARE

NET LOSS PER COMMON SHARE	12 Months Ended
	Sep. 30, 2023
NET LOSS PER COMMON SHARE
NET LOSS PER COMMON SHARE	1 4 . NET LOSS PER COMMON SHARE Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. The Company’s potentially dilutive shares, which include outstanding common stock options, common stock warrants and restricted stock are not included in the computation of diluted net loss per share if their effect would be anti-dilutive. The following table provides a reconciliation of the numerators and denominators of the basic and diluted per-share computations: Year ended September 30, 2023 2022 Loss per share – basic and diluted Net loss available to common shareholders – basic and diluted $ (32,365,855 ) $ (37,629,803 ) Weighted average shares outstanding – basic and diluted 44,479,865 43,148,888 Basic and diluted loss per common share $ (0.73 ) $ (0.87 ) In accordance with the contingently issuable shares guidance of ASC 260, Earnings Per Share 2023 2022 Options and warrants 15,850,028 14,274,836 Unvested restricted stock 147,250 151,250 Total 15,997,278 14,426,086

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Sep. 30, 2023
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS On November 20, 2023, the Company sold 2,490,000 shares of common stock to a single investor at a public offering price of $2.00 per share for aggregate net proceeds of approximately $4.5 million.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash and Cash Equivalents	Cash and Cash Equivalents
U.S. Treasury Bills	U.S. Treasury Bills –
Supplies used for R&D and manufacturing	Supplies used for R&D and manufacturing
Property and Equipment	Property and Equipment
Patents	Patents
Leases	Leases
Derivative Instruments	Derivative Instruments Accounting for Derivative Instruments and Hedging Activities The Company adopted Accounting Standards Update (ASU) 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 . The Company adopted 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): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options
Stock-Based Compensation	Stock-Based Compensation Compensation – Stock Compensation The Company has Incentive Stock Option Plans, Non-Qualified Stock Option Plans, Stock Compensation Plans, Stock Bonus Plans and an Incentive Stock Bonus Plan. These Plans are collectively referred to as the "Plans". All Plans have been approved by the Company’s stockholders. The Company’s stock options are not transferable, and the actual value of the stock options that an employee may realize, if any, will depend on the excess of the market price on the date of exercise over the exercise price. For options issued with service conditions only, the assumption for stock price volatility is based on the variance of daily closing prices of the Company’s stock. The risk-free interest rate assumption is based on the U.S. Treasury rate at the date of grant with the term equal to the expected life of the option. Forfeitures are accounted for when they occur. The expected term of options represents the period that options granted are expected to be outstanding and has been determined based on an analysis of historical exercise behavior. If any of the assumptions used in the Black-Scholes model change significantly, stock-based compensation expense for new awards may differ materially in the future from that recorded in the current period. Restricted stock granted under the Incentive Stock Bonus Plan and options granted under the 2021 and 2020 Non-Qualified Stock Option Plans are subject to service, performance and market conditions and meet the classification of equity awards. These awards were measured at fair value on the grant-dates using a Monte Carlo simulation for issuances where the attainment of performance criteria is uncertain. The total compensation cost will be expensed over the estimated requisite service period.
Research and Development Costs	Research and Development Costs
Net Loss Per Common Share	Net Loss Per Common Share Earnings Per Share
Concentration of Credit Risk	Concentration of Credit Risk
Income Taxes	Income Taxes The Company adopted ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is imposed on the repurchasing corporation itself, not its shareholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. However, for purposes of calculating the excise tax, repurchasing corporations are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the same taxable year. In addition, certain exceptions apply to the excise tax. The U.S. Department of the Treasury (the “Treasury”) has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax.
Impairment of long-lived assets	Impairment of long-lived assets
Use of Estimates	Use of Estimates
New Accounting Pronouncements	In June 2016, the Financial Accounting Standards Board issued ASU 2016-13, Financial Instruments–Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Other accounting standard updates effective for interim and annual periods beginning after September 30, 2023 are not expected to have a material impact on the Company’s financial statements.

WARRANTS AND NONEMPLOYEE OPTI_2

WARRANTS AND NONEMPLOYEE OPTIONS (Tables)	12 Months Ended
	Sep. 30, 2023
WARRANTS AND NONEMPLOYEE OPTIONS
Schedule of warrants and non-employee options	Warrant/Options Issue Date Shares Issuable upon Exercise of Warrants/ Options Exercise Price Expiration Date Series N 8/18/2008 85,339 $ 3.00 8/18/2024 Series UU 6/11/2018 93,603 $ 2.80 6/30/2024 Series X 1/13/2016 120,000 $ 9.25 7/13/2024 Series Y 2/15/2016 26,000 $ 12.00 8/15/2024 Series MM 6/22/2017 333,432 $ 1.86 6/22/2024 Series NN 7/24/2017 200,087 $ 2.52 7/24/2024 Series RR 10/30/2017 234,009 $ 1.65 10/30/2024 Consultant Options 7/28/2017 – 9/2/2023 110,000 $ 1.39 - $2.18 7/27/2027 – 9/1/2028 Warrant/Options Issue Date Shares Issuable upon Exercise of Warrants/ Options Exercise Price Expiration Date Series N 8/18/2008 85,339 $ 3.00 8/18/2024 Series UU 6/11/2018 93,603 $ 2.80 6/30/2024 Series X 1/13/2016 120,000 $ 9.25 7/13/2024 Series Y 2/15/2016 26,000 $ 12.00 8/15/2024 Series MM 6/22/2017 333,432 $ 1.86 6/22/2024 Series NN 7/24/2017 200,087 $ 2.52 7/24/2024 Series RR 10/30/2017 251,761 $ 1.65 10/30/2022 Series SS 12/19/2017 200,000 $ 2.09 12/18/2022 Series TT 2/5/2018 600 $ 2.24 2/5/2023 Consultant Options 7/28/2017 – 11/18/2020 15,000 $ 2.18 - $11.61 11/17/2022 - 7/27/2027
Schedule of (losses)/gains on the warrant liabilities	2023 2022 Series W warrants $ - $ - Series Z warrants - 64,787 Series ZZ warrants - - Series AA warrants - 276,035 Series BB warrants - - Series CC warrants - 24,372 Series HH warrants - 1,597 Net loss on warrant liabilities $ - $ 366,791
Schedule of warrants recorded as liabilities were exercised	Warrants Warrants Exercised Exercise Price Proceeds Series CC 15,205 $ 5.00 $ 76,025
Schedule of equity warrants were exercised	Warrants Warrants Exercised Exercise Price Proceeds Series RR 17,752 $ 1.65 $ 29,291 Series SS 200,000 2.09 418,000 217,752 $ 447,291 Warrants Warrants Exercised Exercise Price Proceeds Series NN 10,000 $ 2.52 $ 25,200

PLANT PROPERTY AND EQUIPMENT (T

PLANT PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Sep. 30, 2023
PROPERTY AND EQUIPMENT
Schedule of property and equipment	2023 2022 Research equipment $ 4,109,070 $ 4,095,022 Furniture and equipment 99,296 99,296 Leasehold improvements 13,924,724 13,544,394 18,133,090 17,738,712 Accumulated depreciation and amortization (7,944,964 ) (5,849,683 ) Net property and equipment $ 10,188,126 $ 11,889,029

PATENTS (Tables)

PATENTS (Tables)	12 Months Ended
	Sep. 30, 2023
PATENTS
Schedule of patents	2023 2022 Patents $ 853,445 $ 893,833 Accumulated amortization (655,741 ) (681,632 ) Patents, net $ 197,704 $ 212,201
Schedule of total estimated future amortization	Years ending September 30, 2024 $ 32,000 2025 29,000 2026 25,000 2027 22,000 2028 19,000 Thereafter 71,000 $ 198,000

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2023
INCOME TAXES
Schedule of components of the Company's deferred tax assets	2023 2022 NOL carryforwards $ 30,829,000 $ 25,346,000 Capitalized R&D 15,196,000 15,042,000 Stock-based compensation 11,579,000 10,442,000 Lease liabilities 3,400,000 3,872,000 R&D credit 1,221,000 1,221,000 Vacation and other 298,000 307,000 Fixed assets and intangibles 168,000 - Total deferred tax assets 62,691,000 56,230,000 Right of use assets (2,713,000 ) (3,244,000 ) Fixed assets and intangibles - (44,000 ) Total deferred tax liabilities (2,713,000 ) (3,288,000 ) Net deferred tax asset 59,978,000 52,942,000 Valuation allowance (59,978,000 ) (52,942,000 ) Ending balance $ - $ -
Schedule of federal or state current or deferred tax expense or benefit	2023 2022 Federal rate 21.00 % 21.00 % State rate change (1.58 ) (1.67 ) State tax rate, net of federal benefit 4.05 4.34 Other adjustments (1.62 ) (0.28 ) Permanent differences 0.00 0.21 Change in valuation allowance (21.85 ) (23.61 ) Effective tax rate 0.00 % 0.00 %

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	12 Months Ended
	Sep. 30, 2023
EQUITY-BASED COMPENSATION
Schedule of expenses for options issued or vested and restricted stock awarded	Year Ended September 30, 2023 2022 Employees $ 6,286,231 $ 11,389,932 Non-employees $ 655,740 $ 762,261
Schedule of assumptions used for fair value of each option granted	2023 2022 Expected stock price volatility 99.18 – 100.18% 96.37 – 99.26% Risk-free interest rate 3.41 – 4.25% 1.50 – 3.43% Expected life of options 9.63 – 9.66 years 9.67 – 9.69 years Expected dividend yield - -
Schedule of non-qualified and incentive stock option plans	Outstanding Exercisable Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at September 30, 2021 11,049,709 $ 10.08 7.93 $ 54,843,283 5,540,028 $ 5.77 6.96 $ 43,589,598 Vested - 1,547,703 $ 8.60 Granted(a) 2,040,750 $ 4.24 - Exercised (6,500 ) $ 4.59 $ 45,725 (6,500 ) $ 4.59 Forfeited (106,331 ) $ 11.53 - Expired (13,614 ) $ 97.50 (13,614 ) $ 97.50 Outstanding at September 30, 2022 12,964,014 $ 9.06 7.35 $ 1,866,240 7,067,617 $ 6.21 6.21 $ 1,866,105 Vested - 952,256 $ 8.41 Granted (b) 2,065,500 $ 1.37 - Exercised - - Forfeited 213,165 $ 9.19 - Expired (58,791 ) $ 61.05 (58,791 ) $ 61.05 Outstanding at September 30, 2023 14,757,558 $ 7.78 6.81 $ 0 7,961,082 $ 6.07 5.60 $ 0
Schedule of non vested options	Number of Shares Weighted Average Grant Date Fair Value Unvested at September 30, 2021 151,250 $ 13.75 Forfeited - Vested - Unvested at September 30, 2022 151,250 $ 13.75 Forfeited (4,000 ) Vested - Unvested at September 30, 2023 147,250 $ 13.75
Schedule of restricted common stock issued from the incentive stock bonus plan	Number of Options Weighted Average Grant Date Fair Value Unvested at September 30, 2021 5,509,681 $ 5.17 Vested (1,547,703 ) $ 7.37 Granted 2,040,750 Forfeited (106,331 ) Unvested at September 30, 2022 5,896,397 $ 3.63 Vested (952,256 ) $ 7.30 Granted 2,065,500 Forfeited (213,165 ) Unvested at September 30, 2023 6,796,476 $ 2.25

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Sep. 30, 2023
Commitments and contingencies
Schedule of future minimum payments under finance leases	Year ending September 30, 2024 2,655,000 2025 2,740,000 2026 2,832,000 2027 2,923,000 2028 3,015,000 Thereafter 252,000 Total future minimum lease obligation 14,417,000 Less imputed interest on finance lease obligations (2,696,000 ) Net present value of lease finance lease obligations – current portion 1,772,000 Net present value of lease finance lease obligations – non-current portion $ 9,949,000
Schedule of future minimum payments under operating leases	Year ending September 30, 2024 357,000 2025 366,000 2026 287,000 2027 277,000 2028 285,000 Thereafter 1,040,000 Total future minimum lease obligation 2,612,000 Less imputed interest on operating lease obligation (762,000 ) Net present value of operating lease obligation – current portion 197,000 Net present value of operating lease obligation – non-current portion $ 1,653,000

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Sep. 30, 2023
FAIR VALUE MEASUREMENTS
Schedule of fair value measurements using significant unobservable inputs	2023 2022 Beginning balance $ - $ 437,380 Issuances - - Exercises - (70,589 ) Net realized and unrealized derivative loss - (366,791 ) Ending balance $ - $ -

NET LOSS PER COMMON SHARE (Tabl

NET LOSS PER COMMON SHARE (Tables)	12 Months Ended
	Sep. 30, 2023
NET LOSS PER COMMON SHARE
Schedule of earnings per share	Year ended September 30, 2023 2022 Loss per share – basic and diluted Net loss available to common shareholders – basic and diluted $ (32,365,855 ) $ (37,629,803 ) Weighted average shares outstanding – basic and diluted 44,479,865 43,148,888 Basic and diluted loss per common share $ (0.73 ) $ (0.87 )
Schedule of anti-dilutive securities	2023 2022 Options and warrants 15,850,028 14,274,836 Unvested restricted stock 147,250 151,250 Total 15,997,278 14,426,086

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2023
Fully insured amount of non-interest bearing cash balances	$ 250,000	$ 250,000
Patents [Member]
Patent Useful Life	17 years

WARRANTS AND NONEMPLOYEE OPTI_3

WARRANTS AND NONEMPLOYEE OPTIONS (Details) - $ / shares	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Consultants [Member] | Minimum [Member]
Issue Date	7/28/2017	7/28/2017
Shares Issuable upon Exercise of Warrant	110,000	15,000
Exercise Price	$ 1.39	$ 2.18
Expiration Date	7/27/2027	11/17/2022
Consultants 1 [Member] | Maximum [Member]
Issue Date	9/2/2023	11/18/2020
Exercise Price	$ 2.18	$ 11.61
Expiration Date	9/1/2028	7/27/2027
Series Y [Member]
Issue Date	2/15/2016	2/15/2016
Shares Issuable upon Exercise of Warrant	26,000	26,000
Exercise Price	$ 12	$ 12
Expiration Date	8/15/2024	8/15/2024
Series MM [Member]
Issue Date	6/22/2017	6/22/2017
Shares Issuable upon Exercise of Warrant	333,432	333,432
Exercise Price	$ 1.86	$ 1.86
Expiration Date	6/22/2024	6/22/2024
Series NN [Member]
Issue Date	7/24/2017	7/24/2017
Shares Issuable upon Exercise of Warrant	200,087	200,087
Exercise Price	$ 2.52	$ 2.52
Expiration Date	7/24/2024	7/24/2024
Series RR [Member]
Issue Date	10/30/2017	10/30/2017
Shares Issuable upon Exercise of Warrant	234,009	251,761
Exercise Price	$ 1.65	$ 1.65
Expiration Date	10/30/2024	10/30/2022
Series SS [Member]
Issue Date		12/19/2017
Shares Issuable upon Exercise of Warrant		200,000
Exercise Price		$ 2.09
Expiration Date		12/18/2022
Series TT [Member]
Issue Date		2/5/2018
Shares Issuable upon Exercise of Warrant		600
Exercise Price		$ 2.24
Expiration Date		2/5/2023
Series N [Member]
Issue Date	8/18/2008	8/18/2008
Shares Issuable upon Exercise of Warrant	85,339	85,339
Exercise Price	$ 3	$ 3
Expiration Date	8/18/2024	8/18/2024
Series UU [Member]
Issue Date	6/11/2018	6/11/2018
Shares Issuable upon Exercise of Warrant	93,603	93,603
Exercise Price	$ 2.80	$ 2.80
Expiration Date	6/30/2024	6/30/2024
Series X [Member]
Issue Date	1/13/2016	1/13/2016
Shares Issuable upon Exercise of Warrant	120,000	120,000
Exercise Price	$ 9.25	$ 9.25
Expiration Date	7/13/2024	7/13/2024

WARRANTS AND NONEMPLOYEE OPTI_4

WARRANTS AND NONEMPLOYEE OPTIONS (Details 1) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Net (loss) gain on warrant liabilities	$ 0	$ 366,791
Series Z [Member]
Net (loss) gain on warrant liabilities	0	64,787
Series CC [Member]
Net (loss) gain on warrant liabilities	0	24,372
Series HH [Member]
Net (loss) gain on warrant liabilities	0	1,597
Series AA [Member]
Net (loss) gain on warrant liabilities	0	276,035
Series W [Member]
Net (loss) gain on warrant liabilities	0	0
Series ZZ [Member]
Net (loss) gain on warrant liabilities	0	0
Series BB [Member]
Net (loss) gain on warrant liabilities	$ 0	$ 0

WARRANTS AND NONEMPLOYEE OPTI_5

WARRANTS AND NONEMPLOYEE OPTIONS (Details 2) - Series CC [Member]	12 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares
Proceeds | $	$ 76,025
Warrants Exercised | shares	15,205
Exercise Price | $ / shares	$ 5

WARRANTS AND NONEMPLOYEE OPTI_6

WARRANTS AND NONEMPLOYEE OPTIONS (Details 3) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Equity Warrants Exercised	217,752
Proceeds from Equity Warrants Exercised	$ 447,291
Series NN [Member]
Equity Warrants Exercised		10,000
Proceeds from Equity Warrants Exercised		$ 25,200
Equity Warrants Exercise Price		$ 2.52
Series RR [Member]
Equity Warrants Exercised	17,752
Proceeds from Equity Warrants Exercised	$ 29,291
Equity Warrants Exercise Price	$ 1.65
Series SS [Member]
Equity Warrants Exercised	200,000
Proceeds from Equity Warrants Exercised	$ 418,000
Equity Warrants Exercise Price	$ 2.09

WARRANTS AND NONEMPLOYEE OPTI_7

WARRANTS AND NONEMPLOYEE OPTIONS (Details Narrative) - USD ($)	1 Months Ended				12 Months Ended
	Oct. 28, 2022	Feb. 28, 2022	Dec. 31, 2021	Nov. 30, 2021	Sep. 30, 2023	Sep. 30, 2022
Deemed dividend					$ 635,000
Total Deemed dividend					$ 294,000
Common stock issued for service, shares					249,997	156,547
Series CC Warrants [Member]
Warrants expired			640
Exercise Price			$ 5
Series Z Warrants [Member]
Warrants expired				184,800
Exercise Price				$ 13.75
Series AA Warrants [Member]
Warrants expired		100,000
Exercise Price		$ 13.75
Series HH Warrants [Member]
Warrants expired		200
Exercise Price		$ 3.13
Series RR [Member]
Incremental cost	$ 172,000
Consulting Agreements [Member]
Total expense					$ 656,000	$ 762,000
Prepaid expenses					$ 205,000	$ 295,000
Consultant [Member] | Non Qualified Stock Options Plans [Member]
Issued options to purchase common stock					100,000
Exercise price					$ 1.39
Options issued of payment for services remained outstanding					110,000
Consultant [Member] | Non Qualified Stock Options Plans [Member] | September 2, 2024 [Member]
Options vested					50%
Consultant [Member] | Non Qualified Stock Options Plans [Member] | September 2, 2025 [Member]
Options vested					50%
Maximum [Member]
Stock prices per share					$ 11.20
Maximum [Member] | Restricted Stock [Member] | Consultants [Member]
Weighted average grant date fair value					1.83	$ 4.59
Minimum [Member]
Stock prices per share					$ 1.26

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022
PROPERTY AND EQUIPMENT
Research equipment	$ 4,109,070	$ 4,095,022
Furniture and equipment	99,296	99,296
Leasehold improvements	13,924,724	13,544,394
Gross	18,133,090	17,738,712
Accumulated depreciation and amortization	(7,944,964)	(5,849,683)
Net property and equipment	$ 10,188,126	$ 11,889,029

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
PROPERTY AND EQUIPMENT
Depreciation expense	$ 2,114,000	$ 1,977,000

PATENTS (Details)

PATENTS (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022
PATENTS
Patents	$ 853,445	$ 893,833
Accumulated amortization	(655,741)	(681,632)
Patents, net	$ 197,704	$ 212,201

PATENTS (Details 1)

PATENTS (Details 1)	Sep. 30, 2022 USD ($)
PATENTS
2024	$ 32,000
2025	29,000
2026	25,000
2027	22,000
2028	19,000
Thereafter	71,000
Total	$ 198,000

PATENTS (Details Narrative)

PATENTS (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
PATENTS
Weighted average amortization period for patents	8 years
Amortization of patent costs	$ 38,000	$ 49,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022
INCOME TAXES
NOL carryforwards	$ 30,829,000	$ 25,346,000
Capitalized R&D	15,196,000	15,042,000
Stock-based compensation	11,579,000	10,442,000
Lease liabilities	3,400,000	3,872,000
R&D credit	1,221,000	1,221,000
Vacation and other	298,000	307,000
Fixed assets and intangibles	168,000	0
Total deferred tax assets	62,691,000	56,230,000
Right of use assets	(2,713,000)	(3,244,000)
Fixed assets and intangibles	0	(44,000)
Total deferred tax liability	(2,713,000)	(3,288,000)
Net deferred tax asset	59,978,000	52,942,000
Valuation allowance	(59,978,000)	(52,942,000)
Ending Balance	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
INCOME TAXES
Federal Rate	21%	21%
State tax rate change	(1.58%)	(1.67%)
State tax rate, net of federal benefit	4.05%	4.34%
Other adjustments	(1.62%)	(0.28%)
Permanent differences	0%	0.21%
Change in valuation allowance	(21.85%)	(23.61%)
Effective tax rate	0%	0%

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
NOL carryforwards	$ 30,829,000	$ 25,346,000
Deferred tax asset	60,000,000	52,900,000
Income Tax [Member]
Research and development credit	1,200,000	1,200,000
NOL carryforwards	$ 123,100,000	$ 100,200,000
Research and development credit, description	The R&D credit expires during the fiscal year ended 2029
Cumulative change in ownership percentage	net operating loss (NOL) carryforwards may be limited in the event a cumulative change in ownership of more than 50% occurs within a three-year period
Net operating loss carryforwards, description	Approximately $19.2 million of the NOL carryforwards begin to expire during the year ended September 30, 2023 and become fully expired by 2038 and approximately $103.9 million of NOL carryforwards

EQUITY-BASED COMPENSATION (Deta

EQUITY-BASED COMPENSATION (Details) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
EQUITY-BASED COMPENSATION
Employees	$ 6,286,231	$ 11,389,932
Non-employees	$ 655,740	$ 762,261

EQUITY-BASED COMPENSATION (De_2

EQUITY-BASED COMPENSATION (Details 1)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
EQUITY-BASED COMPENSATION
Expected stock price volatility, min	99.18%	96.37%
Expected stock price volatility, max	100.18%	99.26%
Risk-free interest rate, min	3.41%	1.50%
Risk-free interest rate, max	4.25%	3.43%
Expected life of options, min	9 years 7 months 17 days	9 years 8 months 1 day
Expected life of options, max	9 years 7 months 28 days	9 years 8 months 8 days
Expected dividend yield	0%	0%

EQUITY-BASED COMPENSATION (De_3

EQUITY-BASED COMPENSATION (Details 2) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Exercisable [Member]
Number of Options Outstanding, Beginning	7,067,617	5,540,028
Number of Options Outstanding, Ending	7,961,082	7,067,617
Weighted Average Exercise Price Outstanding, Beginning	$ 6.21	$ 5.77
Weighted Average Exercise Price Exercised		4.59
Weighted Average Exercise Price Outstanding, Ending	$ 6.07	$ 6.21
Aggregate Intrinsic Value Outstanding, Beginning	$ 1,866,105	$ 43,589,598
Aggregate Intrinsic Value Outstanding, Ending	$ 0	$ 1,866,105
Number of Options Vested	952,256	1,547,703
Number of Options Exercised	0	(6,500)
Number of Options Expired	(58,791)	(13,614)
Weighted Average Exercise Price Vested	$ 8.41	$ 8.60
Weighted Average Exercise Price Expired	$ 61.05	$ 97.50
Weighted Average Remaining Contractual Life Term (Years) Outstanding, Beginning		6 years 11 months 15 days
Weighted Average Remaining Contractual Life Term (Years) Outstanding, Ending	5 years 7 months 6 days	6 years 2 months 15 days
Outstanding [Member]
Number of Options Outstanding, Beginning	12,964,014	11,049,709
Number of Options Granted	2,065,500	2,040,750
Number of Options Exercised	0	(6,500)
Number of Options Expired	(58,791)	(13,614)
Number of Options Forfeited	213,165	106,331
Number of Options Outstanding, Ending	14,757,558	12,964,014
Weighted Average Exercise Price Outstanding, Beginning	$ 9.06	$ 10.08
Weighted Average Exercise Price Granted	1.37	4.24
Weighted Average Exercise Price Exercised		4.59
Weighted Average Exercise Price Forfeited	9.19	11.53
Weighted Average Exercise Price Expired	61.05	97.50
Weighted Average Exercise Price Outstanding, Ending	$ 7.78	$ 9.06
Weighted Average Remaining Contractual Life Term (Years) Outstanding, Beginning		7 years 11 months 4 days
Weighted Average Remaining Contractual Life Term (Years) Outstanding, Ending	6 years 9 months 21 days	7 years 4 months 6 days
Aggregate Intrinsic Value Outstanding, Beginning	$ 1,866,240	$ 54,843,283
Aggregate Intrinsic Value Outstanding, Exercised		45,725
Aggregate Intrinsic Value Outstanding, Ending	$ 0	$ 1,866,240

EQUITY-BASED COMPENSATION (De_4

EQUITY-BASED COMPENSATION (Details 3) - $ / shares	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
EQUITY-BASED COMPENSATION
Number of unvested options, Beginning	5,896,397	5,509,681
Vested options	(952,256)	(1,547,703)
Granted options	2,065,500	2,040,750
Forfeited options	(213,165)	(106,331)
Number of unvested options, Ending	6,796,476	5,896,397
Weighted Average Grant Date Fair Value, Beginning	$ 3.63	$ 5.17
Weighted Average Grant Date Fair Value, vested	7.30	7.37
Weighted Average Grant Date Fair Value, Ending	$ 2.25	$ 3.63

EQUITY-BASED COMPENSATION (De_5

EQUITY-BASED COMPENSATION (Details 4) - Restricted Stock Awards [Member] - $ / shares	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Number of unvested shares, Beginning	151,250	151,250
Forfeited	(4,000)	0
Vested shares	0	0
Number of unvested shares, Ending	147,250	151,250
Weighted Average Grant Date Fair Value, Beginning	$ 13.75	$ 13.75
Weighted Average Grant Date Fair Value, Ending	$ 13.75	$ 13.75

EQUITY-BASED COMPENSATION (De_6

EQUITY-BASED COMPENSATION (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jul. 20, 2023	May 02, 2023
Common stock, shares issued	47,422,304	43,448,317	2,500,000	913,234
Common stock, shares authorized	600,000,000	600,000,000
Stock Compensation Plans [Member]
Common stock, shares issued	153,195
Common stock, shares authorized	634,000
Stock Bonus Plans [Member]
Common stock, shares issued	512,972
Common stock, shares authorized	1,283,760
Non-Qualified Stock Options Plans [Member]
Common stock, shares authorized	15,787,200
Issuance of common stock options authorized shares	2,000,000	2,000,000
Performance based stock options shares granted	1,958,500	250,000
Stock price	$ 1.36	$ 10.48
Stock options vest description		The stock options will vest 100% upon approval of the first marketing application for any pharmaceutical based upon the Company’s Multikine technology in any of the USA, Canada, UK, Germany, France, Italy, Spain, Japan, or Australia
Incentive Stock Option Plans [Member]
Common stock, shares authorized	138,400
Incentive Stock Bonus Plan [Member]
Forfeited	(4,000)
Common stock, shares authorized	610,500
Grant date fair value remaining outstanding	$ 8,600,000
Vested shares	463,250
Unrecognized compensation expense	$ 22,000	$ 45,000,000
Restricted Stock Awards [Member]
Total compensation cost	$ 300,000
Weighted-average period	11 months 8 days
Forfeited	(4,000)	0
Non Vested Options [Member]
Total compensation cost	$ 6,900,000
Weighted-average period	1 year 9 months 10 days

EMPLOYEE BENEFIT PLAN (Detail N

EMPLOYEE BENEFIT PLAN (Detail Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
EMPLOYEE BENEFIT PLAN
Expense for Company's contribution to employee benefit plan	$ 208,000	$ 223,000
Total compensation	$ 10,000
Participant compensation	6%
Shares issued	97,004	52,882

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022
Commitments and contingencies
2024	$ 2,655,000
2025	2,740,000
2026	2,832,000
2027	2,923,000
2028	3,015,000
Thereafter	252,000
Total Future Minimum Lease Obligation	14,417,000
Less: Imputed Interest On Financing Lease Obligation	(2,696,000)
Net present value of lease finance lease obligations - current portion	1,772,000	$ 197,000
Net present value of lease finance lease obligations - non-current portion	$ 9,949,000	$ 1,653,000

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details 1) - USD ($)	Sep. 30, 2023	Sep. 30, 2022
Commitments and contingencies
2024		$ 357,000
2025		366,000
2026		287,000
2027		277,000
2028		285,000
Thereafter		1,040,000
Total Future Minimum Lease Obligation		2,612,000
Less Imputed Interest On Operating Lease Obligation		(762,000)
Net present value of operating lease obligation - non-current portion	$ 9,949,000	1,653,000
Net present value of operating lease obligation - current portion	$ 1,772,000	$ 197,000

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)		12 Months Ended
	Jan. 11, 2023	Sep. 30, 2023	Sep. 30, 2022
Research and development expenses		$ 35,700,000
Net of discount		11,800,000
Additional expenses		700,000
Finance lease liability, current		1,771,804	$ 1,560,553
Operating lease liability, current		197,431	170,928
Operating Expense [Member]
Cash payment for operating leases		$ 300,000	12,000,000
Weighted average operating lease discount rate		10.20%
Operating lease liability, current		$ 200,000	200,000
Operating lease liability		1,900,000	2,100,000
Operating lease right of use assets		$ 1,700,000	1,900,000
Weighted average operating lease maturity year		7 years 8 months 26 days
Lease expenses		$ 400,000	2,400,000
Lease Agreement [Member]
Weighted average maturity year		5 years 1 month 2 days
Finance lease right of use assets		$ 9,100,000	10,900,000
Finance lease liability		11,700,000	13,300,000
Finance lease liability, current		1,800,000	1,600,000
Depreciation expenses		1,800,000	1,800,000
Interest payment to lease liability		1,100,000	1,200,000
Cash payment to lease liability		$ 2,600,000	2,500,000
Weighted average discount rate		8.44%
Landlord [Member]
Incremental borrowing, derivative variable rate		8.45%
Lease description		The repayment includes a base rent which escalates at 3% each year plus interest that accrues at 13.75% per year
Financing arrangement		$ 11,100,000
Payments Made to Landlord	$ 2,300,000	2,400,000
Ergomed [Member]
Research and development expenses		200,000	$ 500,000
Net of discount		100,000
Clinical service trial		10,000,000
Additional clinical trial		$ 2,000,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative )	12 Months Ended
	Sep. 30, 2022 USD ($)
Officer and Director [Member]
Deemed dividend from modification of warrants	$ 172,000
Series N and X and Y Warrants [Member]
Deemed dividend from modification of warrants	294,000
Series MM and NN and UU Warrant [Member]
Warrant extensions	$ 635,000

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - USD ($)		1 Months Ended	12 Months Ended
	May 02, 2023	Jul. 20, 2023	Sep. 30, 2023	Sep. 30, 2022
Common stock shares issued	913,234	2,500,000	47,422,304	43,448,317
Aggregate net proceeds	$ 1,550,000	$ 5,000,000
Public offering price per share	$ 1.70	$ 2
Proceeds from issuance of warrant			$ 40,000	$ 10,000
Warrants exercised			217,752	25,205
Ergomed [Member]
Prepaid of resold amount			$ 0	$ 22,000

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
FAIR VALUE MEASUREMENTS
Beginning balance	$ 0	$ 437,380
Issuances	0	0
Exercises	0	(70,589)
Net realized and unrealized derivative loss	0	(366,791)
Ending balance	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Deta_2

FAIR VALUE MEASUREMENTS (Details Narrative)	12 Months Ended
	Sep. 30, 2023 USD ($)
FAIR VALUE MEASUREMENTS
Unrealized gain on short-term T-bills	$ 6,000
Weighted average risk free interest rate	0.10%

NET LOSS PER COMMON SHARE (Deta

NET LOSS PER COMMON SHARE (Details) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Loss per share - basic and diluted
Net loss available to common shareholders - basic and diluted	$ (32,365,855)	$ (37,629,803)
Weighted average shares outstanding - basic and diluted	44,479,865	43,148,888
Basic and diluted loss per common share	$ (0.73)	$ (0.87)

NET LOSS PER COMMON SHARE (De_2

NET LOSS PER COMMON SHARE (Details 1) - shares	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Antidilutive securities	15,997,278	14,426,086
Options and Warrants
Antidilutive securities	15,850,028	14,274,836
Unvested Restricted Stock [Member]
Antidilutive securities	147,250	151,250

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended
	Nov. 20, 2023	Jul. 20, 2023	May 02, 2023
Share public offering price		$ 2	$ 1.70
Subsequent Event Member
Sale of common stock	2,490,000
Share public offering price	$ 2
Aggregate net proceeds from sale of common stock	$ 4.5