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Pay vs Performance Disclosure - USD ($)
5 Months Ended 7 Months Ended 12 Months Ended
Dec. 31, 2024
Jul. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure            
Pay vs Performance Disclosure, Table    

Pay Versus Performance

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Corporation.

The following information is presented to disclose the relationship between executive “compensation actually paid” or CAP, as calculated under applicable SEC rules, and the Corporation’s financial performance. As required by SEC rules, the table presented below discloses CAP for (i) the Corporation’s principal executive officer (“PEO”), Mr. Hackman and the former principal executive officer (“Former PEO”) Mr. Raykov, and (ii) the Corporation’s NEOs other than Mr. Hackman and Mr. Raykov (collectively, “Non-PEO NEOs”), on an average basis. The Corporation’s PEO and the Non-PEO NEOs receive time-based RSU awards and their total compensation is not tied to any specific company performance measures.

Average

Summary

Average

Value of

Compensation

Compensation

Initial Fixed $100

Total for

Actually Paid to

Investment

Net

Summary Compensation Table Total for PEO1

Compensation Actually Paid To PEO2

Non-PEO

Non-PEO

Based On Total

Income

Year

PEO

Prior PEO

PEO

Prior PEO

    

NEOs3

    

NEOs4

Shareholder Return5

(millions)6

(a)

(b)

(c)

(d)

(e)

(f)

(g)

2024

1,611,861

3,238,461

1,866,208

1,960,657

1,122,451

979,998

85

(436)

2023

2,497,849

4,526,511

1,234,679

2,036,284

151

(16,045)

2022

614,161

1,569,464

428,919

1,197,095

129

(23,714)

(1)The dollar amounts reported in column (b) are the amounts of total compensation reported for Mr. Hackman, the Corporation’s current Chief Executive Officer (who joined the company in Augus 2024) and Mr. Raykov, the former Chief Executive Officer, for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation – Summary Compensation Table.”

(2)The dollar amounts reported in column (c) represent the amount of CAP as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Hackman and Mr. Raykov during the applicable year as it includes changes in the value of stock compensation for awards which remained unvested at the end of the applicable year. The following table details the applicable adjustments that were made to determine CAP:

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following:

Add: Change in

Value as of

Add: Change in

Vesting Date

Deduct: Stock

Add: Fair Value of

Add: Fair Value of

Fair Value of

of Equity Awards

Summary

Compensation

of Equity Awards

of Equity Awards

Outstanding and

Granted in

Compensation

Included

Granted in Fiscal year

Granted and Vested

Unvested Equity

Prior Years

Table

in Summary

and Unvested

in Fiscal Year

Awards granted

which Vested

Compensation

Fiscal Year

    

Executive(s)

 

Total

 

Compensation

 

as of Year-End

 

in Prior Fiscal Years

 

in Fiscal Year

 

Actually Paid

(a)

 

(b)

(c)

(d)

(e)

2024

PEO

1,611,861

1,386,862

1,641,208

-

-

-

1,866,208

2024

 

Prior PEO

 

3,238,461

 

1,606,792

632,000

679,750

-

(982,763)

1,960,657

2024

Non-PEO NEOs

1,122,451

602,826

662,476

-

(63,392)

(138,710)

979,998

2023

Prior PEO

2,497,849

 

1,655,873

2,283,329

-

(618,750)

2,019,956

4,526,511

2023

 

Non-PEO NEOs

1,234,679

856,335

1,244,623

-

(19,094)

432,411

2,036,284

2022

Prior PEO

614,161

-

-

-

(850,186)

1,805,489

1,569,464

2022

Non-PEO NEOs

428,919

-

-

-

(221,690)

989,866

1,197,095

(a)The grant date fair value of equity-based awards, as reported in the Summary Compensation Table.

(b)The year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year.

(c)For awards granted and vested in the current fiscal year, the amount equals the fair value at the vesting date.

(d)The amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year.

(e)For awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value

(3)The dollar amounts represent the average Summary Compensation Table totals for the non-PEO NEOs. The non-PEO NEOs during the calendar year 2024 were Mr. Andrade, the Corporation’s Chief Financial Officer and effective October 28, 2024, Mr. Sayad, the Corporation’s Chief Medical Officer. The non-PEO NEOs during the calendar year 2023 were Mr. Andrade, the Corporation’s Chief Financial Officer Mr. Haigh, the Corporation’s former Chief Operating Officer, who resigned on June 30, 2024. The Non-PEO NEO during the calendar year 2022 was Mr. Andrade.

(4)Represents CAP for non-PEO NEOs. The amounts shown do not reflect the actual compensation earned by or paid to the non-PEO NEOs during the applicable year. In accordance with SEC rules, adjustments were made to determine the CAP using the same methodology described in the footnotes above.

(5)Calculated based upon the closing price of a share of the Corporation’s common stock on the last day of its 2024, 2023, 2022 and fiscal years, which prices were $6.32, $11.22, $9.60, $4.40, respectively.

(6)Refer to Corporation’s Consolidated Statements of Operations as presented in its Annual Report on Form 10-K filed on March 26, 2025.
     
Named Executive Officers, Footnote    
(1)The dollar amounts reported in column (b) are the amounts of total compensation reported for Mr. Hackman, the Corporation’s current Chief Executive Officer (who joined the company in Augus 2024) and Mr. Raykov, the former Chief Executive Officer, for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation – Summary Compensation Table.”
(3)The dollar amounts represent the average Summary Compensation Table totals for the non-PEO NEOs. The non-PEO NEOs during the calendar year 2024 were Mr. Andrade, the Corporation’s Chief Financial Officer and effective October 28, 2024, Mr. Sayad, the Corporation’s Chief Medical Officer. The non-PEO NEOs during the calendar year 2023 were Mr. Andrade, the Corporation’s Chief Financial Officer Mr. Haigh, the Corporation’s former Chief Operating Officer, who resigned on June 30, 2024. The Non-PEO NEO during the calendar year 2022 was Mr. Andrade.
     
Adjustment To PEO Compensation, Footnote    

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following:

Add: Change in

Value as of

Add: Change in

Vesting Date

Deduct: Stock

Add: Fair Value of

Add: Fair Value of

Fair Value of

of Equity Awards

Summary

Compensation

of Equity Awards

of Equity Awards

Outstanding and

Granted in

Compensation

Included

Granted in Fiscal year

Granted and Vested

Unvested Equity

Prior Years

Table

in Summary

and Unvested

in Fiscal Year

Awards granted

which Vested

Compensation

Fiscal Year

    

Executive(s)

 

Total

 

Compensation

 

as of Year-End

 

in Prior Fiscal Years

 

in Fiscal Year

 

Actually Paid

(a)

 

(b)

(c)

(d)

(e)

2024

PEO

1,611,861

1,386,862

1,641,208

-

-

-

1,866,208

2024

 

Prior PEO

 

3,238,461

 

1,606,792

632,000

679,750

-

(982,763)

1,960,657

2024

Non-PEO NEOs

1,122,451

602,826

662,476

-

(63,392)

(138,710)

979,998

2023

Prior PEO

2,497,849

 

1,655,873

2,283,329

-

(618,750)

2,019,956

4,526,511

2023

 

Non-PEO NEOs

1,234,679

856,335

1,244,623

-

(19,094)

432,411

2,036,284

2022

Prior PEO

614,161

-

-

-

(850,186)

1,805,489

1,569,464

2022

Non-PEO NEOs

428,919

-

-

-

(221,690)

989,866

1,197,095

(a)The grant date fair value of equity-based awards, as reported in the Summary Compensation Table.

(b)The year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year.

(c)For awards granted and vested in the current fiscal year, the amount equals the fair value at the vesting date.

(d)The amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year.

(e)For awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value
     
Non-PEO NEO Average Total Compensation Amount     $ 1,122,451 $ 1,234,679 $ 428,919  
Non-PEO NEO Average Compensation Actually Paid Amount     $ 979,998 2,036,284 1,197,095  
Adjustment to Non-PEO NEO Compensation Footnote    

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following:

Add: Change in

Value as of

Add: Change in

Vesting Date

Deduct: Stock

Add: Fair Value of

Add: Fair Value of

Fair Value of

of Equity Awards

Summary

Compensation

of Equity Awards

of Equity Awards

Outstanding and

Granted in

Compensation

Included

Granted in Fiscal year

Granted and Vested

Unvested Equity

Prior Years

Table

in Summary

and Unvested

in Fiscal Year

Awards granted

which Vested

Compensation

Fiscal Year

    

Executive(s)

 

Total

 

Compensation

 

as of Year-End

 

in Prior Fiscal Years

 

in Fiscal Year

 

Actually Paid

(a)

 

(b)

(c)

(d)

(e)

2024

PEO

1,611,861

1,386,862

1,641,208

-

-

-

1,866,208

2024

 

Prior PEO

 

3,238,461

 

1,606,792

632,000

679,750

-

(982,763)

1,960,657

2024

Non-PEO NEOs

1,122,451

602,826

662,476

-

(63,392)

(138,710)

979,998

2023

Prior PEO

2,497,849

 

1,655,873

2,283,329

-

(618,750)

2,019,956

4,526,511

2023

 

Non-PEO NEOs

1,234,679

856,335

1,244,623

-

(19,094)

432,411

2,036,284

2022

Prior PEO

614,161

-

-

-

(850,186)

1,805,489

1,569,464

2022

Non-PEO NEOs

428,919

-

-

-

(221,690)

989,866

1,197,095

(a)The grant date fair value of equity-based awards, as reported in the Summary Compensation Table.

(b)The year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year.

(c)For awards granted and vested in the current fiscal year, the amount equals the fair value at the vesting date.

(d)The amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year.

(e)For awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value
     
Compensation Actually Paid vs. Total Shareholder Return    

Relationship Between Compensation Actually Paid, TSR, and Net Income (Loss)

The amounts of CAP shown in the above Pay versus Performance Table have been calculated as required by Item 402(v) of SEC Regulation S-K. Such calculated amounts do not represent the actual amount of compensation earned by or paid to such individuals in the fiscal years shown. Item 402(v) also requires that the Corporation’s total shareholder return (“TSR”) and net income(loss) for each of the fiscal years shown be included in the Pay versus Performance Table as performance measures. While the Compensation Committee considers TSR and net income (loss) in determining executive compensation, the Committee also utilizes various other performance measures in seeking to align executive compensation

with the non-PEO NEOs’ performance as well as certain subjective measures, all as described in more detail under “Compensation Discussion and Analysis (CD&A).”

     
Compensation Actually Paid vs. Net Income    

Relationship Between Compensation Actually Paid, TSR, and Net Income (Loss)

The amounts of CAP shown in the above Pay versus Performance Table have been calculated as required by Item 402(v) of SEC Regulation S-K. Such calculated amounts do not represent the actual amount of compensation earned by or paid to such individuals in the fiscal years shown. Item 402(v) also requires that the Corporation’s total shareholder return (“TSR”) and net income(loss) for each of the fiscal years shown be included in the Pay versus Performance Table as performance measures. While the Compensation Committee considers TSR and net income (loss) in determining executive compensation, the Committee also utilizes various other performance measures in seeking to align executive compensation

with the non-PEO NEOs’ performance as well as certain subjective measures, all as described in more detail under “Compensation Discussion and Analysis (CD&A).”

The Compensation Committee of the Board of Directors of the Corporation does not have a policy or practice of evaluating cumulative total shareholder return as part of its determination of compensation decisions for Named Executive Officers. As noted in the “Compensation Discussion and Analysis” section of this proxy statement, the Compensation Committee reviews various compensation metrics to ensure the competitiveness of its executive compensation. The Compensation Committee determines on an annual basis the relevant objectives and goals that drive each of the Named Executive Officer’s compensation. While the Corporation’s financial condition and share price are measurements that the Corporation utilizes in evaluating the relevant objectives, the Compensation Committee also considers the advancement of the Corporation’s product candidates, both preclinical and clinical, as well as the achievement of corporative objectives, including financings, partnerships and other business development.

     
Total Shareholder Return Amount     $ 85 151 129  
Net Income (Loss)     $ (436,000,000) $ (16,045,000,000) $ (23,714,000,000)  
PEO Name Mr. Hackman Mr. Raykov        
Share Price $ 6.32   $ 6.32 $ 11.22 $ 9.6 $ 4.4
Mr. Hackman            
Pay vs Performance Disclosure            
PEO Total Compensation Amount     $ 1,611,861      
PEO Actually Paid Compensation Amount     1,866,208      
Mr. Raykov            
Pay vs Performance Disclosure            
PEO Total Compensation Amount     3,238,461 $ 2,497,849 $ 614,161  
PEO Actually Paid Compensation Amount     1,960,657 4,526,511 1,569,464  
PEO | Mr. Hackman | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (1,386,862)      
PEO | Mr. Hackman | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     1,641,208      
PEO | Mr. Raykov | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (1,606,792) (1,655,873)    
PEO | Mr. Raykov | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     632,000 2,283,329    
PEO | Mr. Raykov | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount       (618,750) (850,186)  
PEO | Mr. Raykov | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     679,750      
PEO | Mr. Raykov | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (982,763) 2,019,956 1,805,489  
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (602,826) (856,335)    
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     662,476 1,244,623    
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (63,392) (19,094) (221,690)  
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     $ (138,710) $ 432,411 $ 989,866