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Balance Sheet Details (Tables)
12 Months Ended
Dec. 31, 2023
Disclosure Text Block Supplement [Abstract]  
Schedule of Inventories

Inventories primarily relate to ENTADFI® product and consisted of the following as of December 31, 2023 and 2022:

 

December 31,
2023

 

December 31,
2022

Raw materials

 

$

139,208

 

$

Work-in-process

 

 

194,805

 

 

Finished goods

 

 

30,039

 

 

Total

 

$

364,052

 

$

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following as of December 31, 2023 and 2022:

 

December 31,
2023

 

December 31,
2022

Prepaid insurance

 

$

122,004

 

$

148,789

Prepaid regulatory fees

 

 

312,551

 

 

Prepaid research and development

 

 

89,195

 

 

231,981

Prepaid professional fees

 

 

70,708

 

 

Prepaid other

 

 

175,695

 

 

88,462

Total

 

$

770,153

 

$

469,232

Schedule of Intangible Assets

Intangible assets, which were recorded during the year ended December 31, 2023 in connection with the ENTADFI and Proteomedix acquisitions (see Note 5), is comprised of customer relationships, product rights for developed technology, and a trade name, and consisted of the following as of December 31, 2023:

 

Cost

 

Impairment

 

Effect of
Currency
Translation

 

Balance

Cost basis:

 

 

   

 

 

 

 

 

   

 

 

Trade name

 

$

9,018,000

 

$

 

 

$

294,739

 

$

9,312,739

Product rights for developed technology

 

 

28,447,771

 

 

(14,610,128

)

 

 

344,514

 

 

14,182,157

Customer relationships

 

 

1,891,000

 

 

 

 

 

61,803

 

 

1,952,803

Total

 

$

39,356,771

 

$

(14,610,128

)

 

$

701,056

 

$

25,447,699

 

Amortization

 

Balance

Accumulated amortization:

 

 

 

 

 

 

 

 

Trade name

 

$

 

 

$

 

Product rights for developed technology

 

 

(31,213

)

 

 

(31,213

)

Customer relationships

 

 

(5,599

)

 

 

(5,599

)

Total

 

$

(36,812

)

 

$

(36,812

)

Intangible assets, net

 

 

 

 

 

$

25,410,887

 

Schedule of Annual Amortization Expense

Future annual amortization expense related to the Company’s finite lived intangible assets is as follows as of December 31, 2023:

Years ending December 31,

 

 

 

2024

 

$

1,012,870

2025

 

 

1,326,837

2026

 

 

1,326,837

2027

 

 

1,326,837

2028

 

 

1,326,837

Thereafter

 

 

9,777,930

Total

 

$

16,098,148

Schedule of Goodwill

Goodwill was recorded during the year ended December 31, 2023, in connection with the Proteomedix acquisition (see Note 5), and consisted of the following as of December 31, 2023:

 

December 31,
2023

Balance as of December 31, 2022

 

$

PMX Transaction goodwill

 

 

53,914,055

Effect of currency translation

 

 

1,762,087

Balance as of December 31, 2023

 

$

55,676,142

Schedule of Accrued Expenses

Accrued expenses consisted of the following as of December 31, 2023 and 2022:

 

December 31,
2023

 

December 31,
2022

Accrued research and development

 

$

616,707

 

$

847,747

Accrued compensation

 

 

487,579

 

 

1,132,859

Accrued deferred offering costs

 

 

125,000

 

 

125,000

Accrued professional fees

 

 

550,415

 

 

Accrued implementation fees

 

 

93,787

 

 

Other accrued expenses

 

 

265,849

 

 

125,922

Accrued franchise taxes

 

 

60,530

 

 

177,600

Total

 

$

2,199,867

 

$

2,409,128