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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2024
Schedule of carrying value and fair value of financial assets and liabilities measured at fair value on a recurring basis | The following table provides the carrying value and fair value of certain financial assets and liabilities of the Company measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Fair Value Measurement at
​ | ​ | ​ | ​ | ​ | June 30, 2024
​ | ​ | Carrying Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash equivalents | ​ | $ | 479,068 | ​ | $ | 479,068 | ​ | $ | — | ​ | $ | —
Total assets measured and recorded at fair value | ​ | $ | 479,068 | ​ | $ | 479,068 | ​ | $ | — | ​ | $ | —
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative liability | ​ | $ | 505,000 | ​ | $ | — | ​ | $ | — | ​ | $ | 505,000
Warrant liability | ​ | ​ | 2,235,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,235,000
Total liabilities measured and recorded at fair value | ​ | $ | 2,740,000 | ​ | $ | — | ​ | $ | — | ​ | $ | 2,740,000
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Fair Value Measurement at
​ | ​ | ​ | ​ | ​ | December 31, 2023
​ | ​ | Carrying Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash equivalents | ​ | $ | 5,136,677 | ​ | $ | 5,136,677 | ​ | $ | — | ​ | $ | —
Total assets measured and recorded at fair value | ​ | $ | 5,136,677 | ​ | $ | 5,136,677 | ​ | $ | — | ​ | $ | —
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Warrant liability | ​ | $ | 13,680,000 | ​ | $ | — | ​ | $ | — | ​ | $ | 13,680,000
Total liabilities measured and recorded at fair value | ​ | $ | 13,680,000 | ​ | $ | — | ​ | $ | — | ​ | $ | 13,680,000
Canaccord Warrants |
Schedule of quantitative information regarding Level 3 fair value measurements inputs | The following table provides quantitative information regarding Level 3 fair value measurements inputs as of their measurement dates: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, 2024 |  | December 31, 2023 |
Exercise price | ​ | $ | 9.00 |  | $ | 9.00 | ​
Closing stock price | ​ | $ | 5.76 |  | $ | 18.70 | ​
Number of warrants | ​ |  | 1,140,000 |  | ​ | 1,200,000 | ​
Phase 3 data probability of success | ​ |  | 60 | % | ​ | 60 | %
Volatility | ​ |  | 70 | % | ​ | 55 | %
Term (time to expiration in years) | ​ |  | 4.34 |  | ​ | 4.84 | ​
Redemption hurdle price | ​ | $ | 14.25 |  | $ | 14.25 | ​
Risk-free rate | ​ |  | 4.4 | % | ​ | 3.9 | %
​
ELOC derivative liability |
Schedule of quantitative information regarding Level 3 fair value measurements inputs | The following table provides quantitative information regarding fair value measurements inputs used with respect to the ELOC derivative liability, as of their measurement dates: ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, 2024 |  | April 25, 2024 |
Closing stock price | ​ | $ | 5.76 |  | $ | 13.60 | ​
Volatility | ​ |  | 115 | % | ​ | 110 | %
Term (time to expiration in years) | ​ |  | 2.60 |  | ​ | 2.80 | ​
Risk-free rate | ​ |  | 4.5 | % | ​ | 4.8 | %
​

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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