General form of registration statement for all companies including face-amount certificate companies

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - RESTATED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' (DEFICIT) EQUITY (Details)

v3.24.4
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - RESTATED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' (DEFICIT) EQUITY (Details) - USD ($)
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2023
Dec. 31, 2022
Balance beginning $ 12,380,973 $ 12,501,095 $ (15,158,968) $ (8,387,900) $ 1,370,983 $ 8,153,244 $ 17,912,049 $ 23,127,139 $ 29,063,131 $ 8,153,244 $ 29,063,131 $ (15,158,968) $ 8,153,244 $ 29,063,131 $ 8,153,244 $ 29,063,131
Balance beginning Series D preferred stock     $ 1,382,023     1,382,023       1,382,023   $ 1,382,023 1,382,023   1,382,023  
Balance beginning Series D preferred stock (in shares)     111.11                 111.11        
Stock-based compensation (Note7) 1,534,054 799,249 $ 454,363 497,878 419,757 408,206 367,759 419,953 303,805           2,410,288 $ 1,452,964
Exercise of warrants into common shares     2,298,143 649,250                     2,467,222  
Reclassification of pre-funded warrants to liability       (3,239,112)                     $ (3,239,112)  
Stock awards (Note 7) (in shares)                             1,617,000 440,250
NET LOSS 14,664,719 919,371 26,641,983 17,520,378 10,178,640 7,190,470 7,511,322 5,635,043 6,239,797 17,369,110 11,874,840 $ 42,226,073 34,889,488 19,386,162 $ 42,770,610 $ 31,792,618
Issuance of common stock and pre-funded warrants net of issuance costs                               9,429,767
Balance ending Series D preferred stock       19,202,023     1,382,023           19,202,023 1,382,023 $ 1,382,023 1,382,023
Balance ending Series D preferred stock (in shares)                             111.11  
Balance ending 15,164,940 12,380,973 12,501,095 (28,000,262) (8,387,900) 1,370,983 10,768,486 17,912,049 23,127,139 (8,387,900) 17,912,049 15,164,940 (28,000,262) 10,768,486 $ (15,158,968) 8,153,244
As previously reported                                
Balance beginning     (1,356,047) (467,004) 7,334,461 15,507,519 20,194,072 27,209,162 33,045,154 15,507,519 33,045,154 (1,356,047) 15,507,519 33,045,154 15,507,519 33,045,154
Stock-based compensation (Note7)       497,878 419,757 408,206 367,759 419,953 303,805           2,410,288 1,452,964
Exercise of warrants into common shares       348,638                     789,642  
NET LOSS       13,732,350 8,221,222 8,581,267 7,811,322 7,435,043 6,139,797 16,802,489 13,574,840   30,534,839 21,386,162 37,983,496 28,601,254
Issuance of common stock and pre-funded warrants net of issuance costs                             17,920,000 9,610,655
Balance ending Series D preferred stock       17,920,000                 17,920,000      
Balance ending       (13,352,838) (467,004) 7,334,461 12,750,509 20,194,072 27,209,162 (467,004) 20,194,072   (13,352,838) 12,750,509 (1,356,047) 15,507,519
Restatement adjustments                                
Balance beginning     (13,802,921) (7,920,896) (5,963,478) (7,354,275) (2,282,023) (4,082,023) (3,982,023) (7,354,275) (3,982,023) (13,802,921) (7,354,275) (3,982,023) (7,354,275) (3,982,023)
Balance beginning Series D preferred stock     1,382,023     1,382,023       1,382,023   1,382,023 1,382,023   1,382,023  
Exercise of warrants into common shares       300,612                     1,677,580  
Reclassification of pre-funded warrants to liability       (3,239,112)                     (3,239,112) (7,005,493)
NET LOSS       3,788,028 1,957,418 (1,390,797) (300,000) (1,800,000) 100,000 566,621 (1,700,000)   4,354,649 (2,000,000) 4,787,114 3,191,364
Balance ending Series D preferred stock       1,282,023     1,382,023           1,282,023 1,382,023 1,382,023 1,382,023
Balance ending       (14,647,424) (7,920,896) (5,963,478) (1,982,023) (2,282,023) (4,082,023) (7,920,896) (2,282,023)   (14,647,424) (1,982,023) (13,802,921) (7,354,275)
Series D preferred stock                                
Balance beginning Series D preferred stock $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023
Balance beginning Series D preferred stock (in shares) 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11
Balance ending Series D preferred stock $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 19,202,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 19,202,023 $ 1,382,023 $ 1,382,023 $ 1,382,023
Balance ending Series D preferred stock (in shares) 111.11 111.11 111.11 1,336.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 1,336.11 111.11 111.11 111.11
Series D preferred stock | Restatement adjustments                                
Balance beginning Series D preferred stock     $ 1,382,023     $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023
Balance beginning Series D preferred stock (in shares)     111.11     111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11
Balance ending Series D preferred stock             $ 1,382,023 $ 1,382,023 $ 1,382,023   $ 1,382,023     $ 1,382,023 $ 1,382,023 $ 1,382,023
Balance ending Series D preferred stock (in shares)             111.11 111.11 111.11   111.11     111.11 111.11 111.11
Series E-1 preferred stock                                
Shares issued       1,225                        
Fair value of the warrants allocated to preferred stock       $ 17,820,000                        
Balance ending Series D preferred stock (in shares)       1,225                 1,225      
Series E-2 Preferred Stock                                
Fair value of the warrants allocated to preferred stock                             $ 17,820,000  
Series E-2 Preferred Stock | Restatement adjustments                                
Fair value of the warrants allocated to preferred stock                             (100,000)  
Preferred Stock                                
Balance beginning $ 7,843,603 $ 17,067,715 $ 4,677,632                 $ 4,677,632        
Balance beginning (in shares) 440 867.5 319.76                 319.76        
Conversion of preferred stock to common stock                             $ (13,142,368)  
Conversion of preferred stock to common stock (in shares)                             (905.24)  
Balance ending $ 13,615,544 $ 7,843,603 $ 17,067,715                 $ 13,615,544     $ 4,677,632  
Balance ending (in shares) 1,066.1 440 867.5                 1,066.1     319.76  
Preferred Stock | As previously reported                                
Balance beginning     $ 6,059,655 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 6,059,655 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023
Balance beginning (in shares)     430.87 111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11 430.87 111.11 111.11 111.11 111.11
Conversion of preferred stock to common stock                             $ (13,242,368)  
Conversion of preferred stock to common stock (in shares)                             (905.24)  
Issuance of common stock and pre-funded warrants net of issuance costs                             $ 17,920,000  
Issuance of common stock and pre-funded warrants net of issuance costs (in shares)                             1,225  
Balance ending       $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023 $ 1,382,023   $ 1,382,023 $ 1,382,023 $ 6,059,655 $ 1,382,023
Balance ending (in shares)       111.11 111.11 111.11 111.11 111.11 111.11 111.11 111.11   111.11 111.11 430.87 111.11
Preferred Stock | Restatement adjustments                                
Balance beginning     $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023)
Balance beginning (in shares)     (111.11) (111.11) (111.11) (111.11) (111.11) (111.11) (111.11) (111.11) (111.11) (111.11) (111.11) (111.11) (111.11) (111.11)
Conversion of warrants into common shares                             $ 100,000  
Balance ending       $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023)   $ (1,382,023) $ (1,382,023) $ (1,382,023) $ (1,382,023)
Balance ending (in shares)       (111.11) (111.11) (111.11) (111.11) (111.11) (111.11) (111.11) (111.11)   (111.11) (111.11) (111.11) (111.11)
Preferred Stock | Series E-1 preferred stock                                
Fair value of the warrants allocated to preferred stock       $ 17,820,000                        
Issuance of common stock and pre-funded warrants net of issuance costs (in shares)       1,225                        
Preferred Stock | Series E-1 preferred stock | As previously reported                                
Fair value of the warrants allocated to preferred stock       $ 17,920,000                        
Issuance of common stock and pre-funded warrants net of issuance costs (in shares)       1,225                        
Preferred Stock | Series E-1 preferred stock | Restatement adjustments                                
Fair value of the warrants allocated to preferred stock       $ (100,000)                        
Preferred Stock | Series E-2 Preferred Stock                                
Conversion of preferred stock to common stock $ (1,285,851)   $ (1,203,346)                          
Conversion of preferred stock to common stock (in shares) (87.9)   82.26                          
Shares issued                             1,225  
Fair value of the warrants allocated to preferred stock                             $ 17,820,000  
Issuance of common stock and pre-funded warrants net of issuance costs (in shares)                             1,225  
Preferred Stock | Series E-2 Preferred Stock | Restatement adjustments                                
Fair value of the warrants allocated to preferred stock                             $ (100,000)  
Common Stock                                
Balance beginning $ 358 $ 332 $ 207 $ 97 $ 97 $ 94 $ 61 $ 61 $ 61 $ 94 $ 61 $ 207 $ 94 $ 61 $ 94 $ 61
Balance beginning (in shares) 35,848,924 33,164,466 20,744,110 9,740,507 9,740,507 9,385,272 6,110,122 6,110,124 6,110,125 9,385,272 6,110,125 20,744,110 9,385,272 6,110,125 9,385,272 6,110,125
Exercise of warrants into common shares     $ 5 $ 2                     $ 12  
Exercise of warrants into common shares (in shares)     547,177 177,877                     1,197,622  
Conversion of preferred stock to common stock                             $ 99  
Conversion of preferred stock to common stock (in shares)                             9,947,684  
Stock awards (Note 7)                             $ 2  
Stock awards (Note 7) (in shares)                             213,532  
Retired shares (in shares)     (8)       (4) (2) (1)             (6)
Issuance of common stock and pre-funded warrants net of issuance costs                               $ 33
Issuance of common stock and pre-funded warrants net of issuance costs (in shares)                               3,275,153
Balance ending $ 406 $ 358 $ 332 $ 99 $ 97 $ 97 $ 61 $ 61 $ 61 $ 97 $ 61 $ 406 $ 99 $ 61 $ 207 $ 94
Balance ending (in shares) 40,566,534 35,848,924 33,164,466 9,918,384 9,740,507 9,740,507 6,110,118 6,110,122 6,110,124 9,740,507 6,110,122 40,566,534 9,918,384 6,110,118 20,744,110 9,385,272
Common Stock | As previously reported                                
Balance beginning     $ 207 $ 97 $ 97 $ 94 $ 61 $ 61 $ 61 $ 94 $ 61 $ 207 $ 94 $ 61 $ 94 $ 61
Balance beginning (in shares)     20,744,110 9,740,507 9,740,507 9,385,272 6,110,122 6,110,124 6,110,125 9,385,272 6,110,125 20,744,110 9,385,272 6,110,125 9,385,272 6,110,125
Exercise of warrants into common shares       $ 2                     $ 12  
Exercise of warrants into common shares (in shares)       177,877                     1,197,622  
Conversion of preferred stock to common stock                             $ 99  
Conversion of preferred stock to common stock (in shares)                             9,947,684  
Stock awards (Note 7)                             $ 2  
Stock awards (Note 7) (in shares)                             213,532  
Retired shares (in shares)             (4) (2) (1)             (6)
Issuance of common stock and pre-funded warrants net of issuance costs                               $ 33
Issuance of common stock and pre-funded warrants net of issuance costs (in shares)                               3,275,153
Balance ending       $ 99 $ 97 $ 97 $ 61 $ 61 $ 61 $ 97 $ 61   $ 99 $ 61 $ 207 $ 94
Balance ending (in shares)       9,918,384 9,740,507 9,740,507 6,110,118 6,110,122 6,110,124 9,740,507 6,110,122   9,918,384 6,110,118 20,744,110 9,385,272
Common Stock | Series E-2 Preferred Stock                                
Conversion of preferred stock to common stock $ 10   $ 9                          
Conversion of preferred stock to common stock (in shares) 965,934   903,956                          
Additional Paid-In Capital                                
Balance beginning $ 234,859,383 $ 224,836,048 $ 182,924,210 $ 168,971,520 $ 168,551,763 $ 168,143,557 $ 157,984,617 $ 157,564,664 $ 157,260,859 $ 168,143,557 $ 157,260,859 $ 182,924,210 $ 168,143,557 $ 157,260,859 $ 168,143,557 $ 157,260,859
Stock-based compensation (Note7) 1,534,054 799,249 454,363 497,878 419,757 408,206 367,759 419,953 303,805           2,410,288 1,452,964
Exercise of warrants into common shares     2,298,138 $ 649,248                     2,467,210  
Exercise of warrants into common shares (in shares)       649,248                        
Conversion of preferred stock to common stock                             13,142,269  
Reclassification of pre-funded warrants to liability       $ (3,239,112)                     (3,239,112)  
Stock awards (Note 7)                             (2)  
Issuance of common stock and pre-funded warrants net of issuance costs                               9,429,734
Balance ending 246,536,080 234,859,383 224,836,048 166,879,534 168,971,520 168,551,763 158,352,376 157,984,617 157,564,664 168,971,520 157,984,617 246,536,080 166,879,534 158,352,376 182,924,210 168,143,557
Additional Paid-In Capital | As previously reported                                
Balance beginning     210,066,630 194,452,408 194,032,651 193,624,445 183,284,617 182,864,664 182,560,859 193,624,445 182,560,859 210,066,630 193,624,445 182,560,859 193,624,445 182,560,859
Stock-based compensation (Note7)       497,878 419,757 408,206 367,759 419,953 303,805           2,410,288 1,452,964
Exercise of warrants into common shares       348,636                     789,630  
Conversion of preferred stock to common stock                             13,242,269  
Stock awards (Note 7)                             (2)  
Issuance of common stock and pre-funded warrants net of issuance costs                               9,610,622
Balance ending       195,298,922 194,452,408 194,032,651 183,652,376 183,284,617 182,864,664 194,452,408 183,284,617   195,298,922 183,652,376 210,066,630 193,624,445
Additional Paid-In Capital | Restatement adjustments                                
Balance beginning     (27,142,420) (25,480,888) (25,480,888) (25,480,888) (25,300,000) (25,300,000) (25,300,000) (25,480,888) (25,300,000) (27,142,420) (25,480,888) (25,300,000) (25,480,888) (25,300,000)
Exercise of warrants into common shares       300,612                     1,677,580  
Reclassification of pre-funded warrants to liability       (3,239,112)                     (3,239,112) (7,005,493)
Conversion of warrants into common shares                             (100,000)  
Balance ending       (28,419,388) (25,480,888) (25,480,888) (25,300,000) (25,300,000) (25,300,000) (25,480,888) (25,300,000)   (28,419,388) (25,300,000) (27,142,420) (25,480,888)
Additional Paid-In Capital | Series E-2 Preferred Stock                                
Conversion of preferred stock to common stock 1,285,841   1,203,337                          
Accumulated Deficit                                
Balance beginning (230,322,371) (229,403,000) (202,761,017) (177,359,517) (167,180,877) (159,990,407) (140,072,629) (134,437,586) (128,197,789) (159,990,407) (128,197,789) (202,761,017) (159,990,407) (128,197,789) (159,990,407) (128,197,789)
NET LOSS 14,664,719 919,371 26,641,983 17,520,378 10,178,640 7,190,470 7,511,322 5,635,043 6,239,797           42,770,610 31,792,618
Balance ending $ (244,987,090) $ (230,322,371) (229,403,000) (194,879,895) (177,359,517) (167,180,877) (147,583,951) (140,072,629) (134,437,586) (177,359,517) (140,072,629) (244,987,090) (194,879,895) (147,583,951) (202,761,017) (159,990,407)
Accumulated Deficit | As previously reported                                
Balance beginning     (217,482,539) (196,301,532) (188,080,310) (179,499,043) (164,472,629) (157,037,586) (150,897,789) (179,499,043) (150,897,789) (217,482,539) (179,499,043) (150,897,789) (179,499,043) (150,897,789)
NET LOSS       13,732,350 8,221,222 8,581,267 7,811,322 7,435,043 6,139,797           37,983,496 28,601,254
Balance ending       (210,033,882) (196,301,532) (188,080,310) (172,283,951) (164,472,629) (157,037,586) (196,301,532) (164,472,629)   (210,033,882) (172,283,951) (217,482,539) (179,499,043)
Accumulated Deficit | Restatement adjustments                                
Balance beginning     14,721,522 18,942,015 20,899,433 19,508,636 24,400,000 22,600,000 22,700,000 19,508,636 22,700,000 $ 14,721,522 19,508,636 22,700,000 19,508,636 22,700,000
NET LOSS       3,788,028 1,957,418 (1,390,797) (300,000) (1,800,000) 100,000           4,787,114 3,191,364
Balance ending       $ 15,153,987 $ 18,942,015 20,899,433 $ 24,700,000 $ 24,400,000 $ 22,600,000 $ 18,942,015 $ 24,400,000   $ 15,153,987 $ 24,700,000 $ 14,721,522 19,508,636
Pre-funded warrants                                
Conversion of preferred stock to common stock     3,972,540     3                    
Conversion of warrants into common shares           3                    
Pre-funded warrants | As previously reported                                
Conversion of warrants into common shares           3                    
Pre-funded warrants | Common Stock                                
Conversion of preferred stock to common stock     $ 11     $ 3                    
Conversion of preferred stock to common stock (in shares)     1,079,132     355,235                    
Conversion of warrants into common shares           $ 3                    
Conversion of warrants into common shares (in shares)           355,235                    
Pre-funded warrants | Common Stock | As previously reported                                
Conversion of warrants into common shares           $ 3                    
Conversion of warrants into common shares (in shares)           355,235                    
Pre-funded warrants | Additional Paid-In Capital                                
Conversion of preferred stock to common stock     $ 3,972,529                          
Warrants | Restatement adjustments                                
Issuance of common stock and pre-funded warrants net of issuance costs                               6,824,605
Warrants | Additional Paid-In Capital | Restatement adjustments                                
Issuance of common stock and pre-funded warrants net of issuance costs                               $ 6,824,605