XML 40 R29.htm IDEA: XBRL DOCUMENT v3.22.4
Common Stock, Stock Options and Warrants (Details) - USD ($)
 1 Months Ended 12 Months Ended
Sep. 13, 2022
Mar. 21, 2022
Nov. 02, 2021
Apr. 30, 2021
Feb. 12, 2021
Feb. 19, 2021
Jan. 27, 2021
Sep. 30, 2022
Sep. 30, 2021
May 24, 2021
Nov. 05, 2020
Feb. 10, 2020
Feb. 07, 2018
Common Stock, Stock Options and Warrants (Details) [Line Items]                          
Common stock, shares issued 81,500 100,000 50,201   50,000                
Fair value of common stock issued (in Dollars) $ 104,320 $ 178,000 $ 95,884   $ 68,000                
Common stock offerings, description             On January 27, 2021, the Company closed a private placement for 15,455,960 common shares and warrants to purchase 7,727,980 common shares, at a purchase price of $1.294 per common share and accompanying warrant, for gross proceeds of $20,000,012. The 7,727,980 warrants are immediately exercisable at $1.231 per common share for a term of five and one-half years. The Company paid the placement agent a fee of 7% of the gross proceeds totaling $1,400,001 and issued the placement agent 1,081,917 immediately exercisable warrants at $1.6175 per common share for a term of five and one-half years. The Company also reimbursed the placement agent for $85,000 in expenses and incurred $64,601 in other expenses. Net proceeds from the offering were $18,450,410. The estimated fair value of the 7,727,980 warrants issued to the investors was approximately $7,582,000 and the estimated fair value of the 1,081,917 warrants issued to the placement agent was approximately $1,025,000.             
Common shares reserved               38,325,489     2,000,000    
Option to purchase share outstanding               4,855,000          
Shares available for future grants               3,885,000          
Contractual term               10 years          
Share price (in Dollars per share)                 $ 1.34        
Options vest over terms               10 years 10 years        
Share issued price per share (in Dollars per share)               $ 1.67          
Stock-based compensation expense description               Stock-based compensation expense for the years ended September 30, 2022 and 2021 was $3,905,954 (including $133,332 for the NoveCite Stock Plan) and $1,454,979 (including $83,555 for the NoveCite Stock Plan), respectively.           
Citius stock plans (in Dollars)               $ 5,317,681          
Weighted average period term               1 year 11 months 1 day          
Common shares outstanding               2,000,000          
Stock option plan description                 the year ended September 30, 2021, NoveCite granted options to purchase 2,000,000 common shares to employees at a weighted average exercise price of $0.24 per share, of which 1,084,444 are exercisable as of September 30, 2022. The weighted average grant date fair value of the options granted during the year ended September 30, 2021 was estimated at $0.20 per share. All these options vest over 36 months and have a term of 10 years. The weighted average remaining contractual term of options outstanding under the NoveCite Stock Plan is 8.39 years. At September 30, 2022, unrecognized total compensation cost related to unvested awards under the NoveCite Stock Plan of $183,111 is expected to be recognized over a weighted average period of 1.45 years.        
Warrants extended term       3 years                  
Warrants for common stock (in Dollars)       $ 1,294,498                  
Exercise price (in Dollars per share)       $ 1.42                  
Deemed dividend (in Dollars)                 $ 1,450,876        
Common stock warrants (in Dollars)                 $ 31,130,134        
Warrants [Member]                          
Common Stock, Stock Options and Warrants (Details) [Line Items]                          
Warrants for common stock (in Dollars)       $ 240,130                  
Exercise price (in Dollars per share)       $ 1.93                  
Weighted average remaining life of the outstanding warrants               2 years 10 months 20 days          
Aggregate intrinsic value for the warrants outstanding (in Dollars)               $ 1,832,879          
Registered Direct Offering [Member]                          
Common Stock, Stock Options and Warrants (Details) [Line Items]                          
Common stock offerings, description           On February 19, 2021, the Company closed a registered direct offering for 50,830,566 common shares and warrants to purchase up to 25,415,283 common shares, at a purchase price of $1.505 per share of common stock and accompanying warrant, for gross proceeds of $76,500,002. The 25,415,283 warrants are immediately exercisable at $1.70 per common share for a term of five years. The Company paid the placement agent a fee of 7% of the gross proceeds totaling $5,355,000 and issued the placement agent 3,558,140 immediately exercisable warrants at $1.881 per common share for a term of five years. The Company also reimbursed the placement agent for $85,000 in expenses and incurred $80,160 in other expenses. Net proceeds from the offering were $70,979,842. The estimated fair value of the 25,415,283 warrants issued to the investors was approximately $42,322,000 and the estimated fair value of the 3,558,140 warrants issued to the placement agent was approximately $5,850,000.               
2014 Stock Incentive Plan [Member]                          
Common Stock, Stock Options and Warrants (Details) [Line Items]                          
Common stock for issuance               866,667          
Shares outstanding               855,171          
Purchase of shares were exercised               4,829          
Options to purchase shares expired               6,667          
2018 Omnibus Stock Incentive Plan [Member]                          
Common Stock, Stock Options and Warrants (Details) [Line Items]                          
Common stock for issuance                         2,000,000
Purchase of shares were exercised               70,000          
Number of shares outstanding               1,820,000          
Remaining shares               110,000          
2020 Plan [Member]                          
Common Stock, Stock Options and Warrants (Details) [Line Items]                          
Common shares reserved                       3,110,000  
2021 Omnibus Stock Incentive Plan [Member]                          
Common Stock, Stock Options and Warrants (Details) [Line Items]                          
Remaining shares               1,240,000          
Option to purchase share outstanding               1,870,000          
2021 Stock Plan [Member]                          
Common Stock, Stock Options and Warrants (Details) [Line Items]                          
Common shares reserved                   8,740,000      
Shares available for future grants               3,885,000