XML 44 R26.htm IDEA: XBRL DOCUMENT
v3.24.3

Derivative Liabilities (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2024 | Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |  |
Schedule of Monte Carlo Simulation Assumption | The key inputs for the Monte Carlo simulation as of June 30, 2024, were as follows: Schedule of Monte Carlo Simulation Assumption
Net cash settlement and down round key valuation inputs – warrants* |  |  |
Annualized volatility |  |  | 89.76% - 99.20 | %
Risk-free interest rate |  |  | 4.61% - 5.48 | %
Quoted VWAP |  | $ | 3.12 |
Exercise price |  | $ | 18.80 |
Probability assessment |  |  | 2.5% - 30 | %
Illiquidity discount |  |  | -15 | %
Time period (years) |  |  | 0.11 - 2.53 |
* |  | Based on a Monte Carlo simulation analysis of 250,000 iterations
Acceleration option key valuation inputs* |  |  |
Annualized volatility |  |  | 64.76% - 74.98 | %
Risk-free interest rate |  |  | 5.23% - 5.48 | %
Quoted VWAP |  | $ | 3.12 |
Illiquidity discount |  |  | -15 | %
Time period (years) |  |  | 0 - 0.7 |
* |  | Based on a Monte Carlo simulation analysis of 250,000 iterations
| The range of key inputs for the Monte Carlo simulation for the year ended December 31, 2023, were as follows: Schedule of Monte Carlo Simulation Assumption
Net cash settlement and down round key valuation inputs – Alto Warrants* |  |  |
Annualized volatility |  |  | 77.51% - 92.33 | %
Risk-free interest rate |  |  | 4.01% - 5.23 | %
Quoted VWAP* |  | $ | 4.72 |
Exercise price |  | $ | 18.80 |
Probability assessment |  |  | 5% - 25 | %
Illiquidity discount |  |  | (17 | )%
Time period (years) |  |  | 0.53 - 3.03 |
Estimated fair value (issuance) |  | $ | 1,189,000 |
Estimated fair value (December 31, 2023) |  | $ | 410,660 |
| * | Based on a Monte Carlo simulation analysis of 50,000 iterations
Alto Acceleration Option key valuation inputs* |  |  |  |
Annualized volatility |  |  | 34.23% - 59.15 | %
Risk-free interest rate |  |  | 4.68% - 5.60 | %
Quoted VWAP* |  | $ | 4.72 |
Illiquidity discount |  |  | (17 | )%
Time period (years) |  |  | 0 - 1.2 |
Estimated fair value (issuance) |  | $ | 1,442,000 |
Estimated fair value (December 31, 2023) |  | $ | 3,852 |
| * | Based on a Monte Carlo simulation analysis of 50,000 iterations
Schedule of Derivative Liabilities | The following table summarizes the changes in the derivative liabilities: Schedule of Derivative Liabilities
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
|  | Warrants |  |  | Accelerated Feature |
Balance - December 31, 2023 |  | $ | 410,660 |  |  | $ | 3,852 |
Gain on change in fair value |  |  | (196,045 | ) |  |  | (1,817 | )
Balance - March 31, 2024 |  | $ | 214,615 |  |  | $ | 2,035 |
(Gain) loss on change in fair value |  |  | 145,304 |  |  |  | (1,531 | )
Balance - June 30, 2024 |  | $ | 359,919 |  |  | $ | 504 |
| The following table summarizes the changes in the derivative liabilities: Schedule of Derivative Liabilities
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
|  | Alto Warrants |  |  | Alto Acceleration Option |
Balance - December 31, 2021 |  | $ | — |  |  | $ | — |
Addition of new derivative |  |  | — |  |  |  |  |
Loss on change in fair value |  |  | — |  |  |  | — |
Settlements |  |  | — |  |  |  |  |
Balance - December 31, 2022 |  |  | — |  |  |  | — |
Addition of new derivatives |  |  | 1,189,000 |  |  |  | 1,442,000 |
Gain on change in fair value |  |  | (778,340 | ) |  |  | (1,438,148 | )
Balance - December 31, 2023 |  | $ | 410,660 |  |  | $ | 3,852 |
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
|  | December 2021 Notes Derivative |  |  | August 2022 Notes Derivative |  |  | 2022 Convertible Notes Derivative |
Balance - December 31, 2021 |  | $ | 367,000 |  |  |  | — |  |  |  | — |
Addition of new derivative |  |  | — |  |  |  | 76,000 |  |  |  | 221,000 |
Loss (gain) on change in fair value |  |  | (205,000 | ) |  |  | 44,000 |  |  |  | 350,000 |
Settlements |  |  | (162,000 | ) |  |  | (120,000 | ) |  |  | (571,000 | )
Balance - December 31, 2022 |  |  | — |  |  |  | — |  |  |  | — |
Addition of new derivatives |  |  | — |  |  |  | — |  |  |  | — |
Gain on change in fair value |  |  | — |  |  |  | — |  |  |  | — |
Balance - December 31, 2023 |  |  | — |  |  | $ | — |  |  | $ | — |
Schedule of Derivative Issuance Valuation Inputs |  | In connection with the issuance of the December 2021 Notes, the Company identified an accelerated repayment upon IPO feature that required bifurcation. We classified this derivative liability as a Level 3 fair value measurement and used a probability weighted scenario model to estimate the fair value of the derivative just prior to the settlement of the December 2021 Notes. Key inputs for this valuation model are summarized below. Schedule of Derivative Liability Valuation
December 2021 Notes derivative key valuation inputs |  | Issuance Date |  |  | Settlement Date |
Amount due upon acceleration |  | $ | 533,699 |  |  | $ | 533,973 |
Carrying value of December 2021 Notes at measurement date |  | $ | — |  |  |  | 337,398 |
IPO date |  |  | 8/31/2022 |  |  |  | 9/2/2022 |
Probability of IPO acceleration |  |  | 90 | % |  |  | 100 | %
Probability of maturity |  |  | 10 | % |  |  | — | %
Time period to maturity (years) |  |  | 1.00 years |  |  |  | 0.32 years |
Discount rate |  |  | 50.0 | % |  |  | 50.0 | %
Estimated fair value |  | $ | 367,000 |  |  |  | 162,000 |
Schedule of Derivative Key Valuation Inputs |  | Schedule of Derivative Key Valuation Inputs
2022 Convertible Notes derivative key valuation inputs* |  | Issuance Dates |  | Settlement Date
Annualized volatility |  | 75.0% - 82.0% |  | —
Risk-free interest rate |  | 0.6% - 1.2% |  | —
Exercise price (implied) |  | $45.52 - $85.92 |  | —
Estimated IPO date |  | 8/31/2022 |  | 9/2/2022
Probability of default |  | 50% |  | —%
Probability of IPO or Alternative Liquidity Event |  | 45% |  | 100%
Probability of Maturity |  | 5% |  | —%
Time period (years) |  | 0.47 - 1.00 years |  | 0.00 years
Estimated fair value |  | $221,000 |  | $571,000
August 2022 Notes [Member] |  |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |  |
Schedule of Derivative Issuance Valuation Inputs |  | In connection with the issuance of the August 2022 Promissory Note, the Company identified an accelerated repayment upon IPO feature that required bifurcation. We classified this derivative liability as a Level 3 fair value measurement and used a probability weighted scenario model to estimate the fair value of the derivative just prior to the settlement of the August 2022 Promissory Notes. Key inputs for this valuation model are summarized below. Schedule of Derivative Issuance Valuation Inputs
August 2022 Promissory Notes derivative key valuation inputs |  | Issuance Dates |  | Settlement Date
Amount due upon acceleration (estimated at issuance) |  | $50,411 |  | $50,438
Carrying value of August 2022 Promissory Notes at measurement date |  | $0 |  | $4,521
IPO date |  | 8/31/2022 |  | 9/2/2022
Probability of IPO acceleration |  | 90% |  | 100%
Probability of maturity |  | 10% |  | —%
Time period to maturity (years) |  | 1.00 years |  | 0.91 years
Discount rate |  | 16.03% |  | 18.81%
Estimated fair value |  | $45,000 |  | $45,000
Schedule of Derivative Key Valuation Inputs |  | In connection with the issuance of the August 2022 Convertible Notes, the Company identified certain embedded features that required bifurcation as a combined derivative liability, including the share-settled redemption of the 2022 Convertible Notes at a 50% discount and the automatic increase in principal of 10% if conversion does not occur within 12 months. Key inputs for this valuation model are summarized below: Schedule of Derivative Key Valuation Inputs
2022 Convertible Notes derivative key valuation inputs* |  | Issuance Dates |  |  | Settlement Date |
Estimated IPO date |  |  | 8/31/2022 |  |  |  | 9/2/2022 |
Probability of default |  |  | 50 | % |  |  | — | %
Probability of IPO or Alternative Liquidity Event |  |  | 45 | % |  |  | 100 | %
Probability of Maturity |  |  | 5 | % |  |  | — | %
Time period (years) |  |  | 1.00 years |  |  |  | 0.00 years |
Estimated fair value |  | $ | 31,000 |  |  | $ | 75,000 |

X
- Definition Schedule of Derivative of Settlement Valuation [Table Text Block] + References No definition available. + Details
Name: | SHPH_ScheduleOfDerivativeOfSettlementValuationTableTextBlock
Namespace Prefix: | SHPH_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Derivative Key Valuation Inputs [TableTextBlock] + References No definition available. + Details
Name: | SHPH_ScheduleofDerivativeKeyValuationInputsTableTextBlock
Namespace Prefix: | SHPH_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 35 -Paragraph 1D -Publisher FASB -URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 35 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480483/718-10-35-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(01) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(02) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(03) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(01) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(02) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(03) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iv) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(v) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_AwardDateAxis=SHPH_AugustTwoThousandTwentyTwoNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |