Actinium Pharmaceuticals (ATNM) 10-Q26 Apr 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2024	Apr. 26, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Information [Line Items]
Entity Registrant Name	ACTINIUM PHARMACEUTICALS, INC.
Entity Central Index Key	0001388320
Entity File Number	001-36374
Entity Tax Identification Number	74-2963609
Entity Incorporation, State or Country Code	DE
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	100 Park Ave., 23rd Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017
Entity Phone Fax Numbers [Line Items]
City Area Code	(646)
Local Phone Number	677-3870
Entity Listings [Line Items]
Title of 12(b) Security	Common stock, par value $0.001
Trading Symbol	ATNM
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		29,783,451

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 84,057	$ 76,677
Prepaid expenses and other current assets	1,316	1,586
Total Current Assets	85,373	78,263
Property and equipment, net of accumulated depreciation of $760 and $694	496	550
Restricted cash – long term	316	313
Operating leases right-of-use assets	2,140	2,289
Finance leases right-of-use assets	27	30
Total Assets	88,352	81,445
Current Liabilities:
Accounts payable and accrued expenses	7,513	7,953
Operating leases current liability	540	530
Finance leases current liability	11	11
Total Current Liabilities	8,064	8,494
Long-term license revenue deferred	35,000	35,000
Long-term operating lease obligations	1,414	1,553
Long-term finance lease obligations	17	19
Total Liabilities	44,495	45,066
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, $0.001 par value; 50,000,000 shares authorized, 0 shares issued and outstanding
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 29,396,411 and 27,634,213 shares issued and outstanding, respectively	29	28
Additional paid-in capital	390,081	373,934
Accumulated deficit	(346,253)	(337,583)
Total Stockholders’ Equity	43,857	36,379
Total Liabilities and Stockholders’ Equity	$ 88,352	$ 81,445

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Property and equipment, net of accumulated depreciation (in Dollars)	$ 760	$ 694
Preferred stock par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	29,396,411	27,634,213
Common stock, shares outstanding	29,396,411	27,634,213

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Total revenue
Operating expenses:
Research and development, net of reimbursements	6,635	7,849
General and administrative	2,962	3,735
Total operating expenses	9,597	11,584
Loss from operations	(9,597)	(11,584)
Other income:
Interest income - net	927	547
Total other income	927	547
Net loss	$ (8,670)	$ (11,037)
Net loss per share of common stock – basic (in Dollars per share)	$ (0.31)	$ (0.43)
Weighted average shares of common stock outstanding – basic (in Shares)	27,886,486	25,696,623
Revenue
Revenue:
Total revenue
Other Revenue
Revenue:
Total revenue

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net loss per share of common stock – diluted	$ (0.31)	$ (0.43)
Weighted average shares of common stock outstanding – diluted	27,886,486	25,696,623

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Changes in Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2022	$ 26	$ 355,220	$ (288,765)	$ 66,481
Balance (in Shares) at Dec. 31, 2022	25,674,823
Stock-based compensation		993		993
Sale of common stock, net of offering costs		770		770
Sale of common stock, net of offering costs (in Shares)	54,414
Issuance of common stock from exercise of stock options		1		1
Issuance of common stock from exercise of stock options (in Shares)	133
Net loss			(11,037)	(11,037)
Balance at Mar. 31, 2023	$ 26	356,984	(299,802)	57,208
Balance (in Shares) at Mar. 31, 2023	25,729,370
Balance at Dec. 31, 2023	$ 28	373,934	(337,583)	36,379
Balance (in Shares) at Dec. 31, 2023	27,634,213
Stock-based compensation		1,378		1,378
Sale of common stock, net of offering costs	$ 1	14,694		14,695
Sale of common stock, net of offering costs (in Shares)	1,752,050
Issuance of common stock from exercise of stock options		75		$ 75
Issuance of common stock from exercise of stock options (in Shares)	10,148			10
Net loss			(8,670)	$ (8,670)
Balance at Mar. 31, 2024	$ 29	$ 390,081	$ (346,253)	$ 43,857
Balance (in Shares) at Mar. 31, 2024	29,396,411

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows Used In Operating Activities:
Net loss	$ (8,670)	$ (11,037)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	1,378	993
Depreciation & amortization expenses	216	182
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	271	(1,989)
Accounts payable and accrued expenses	(440)	(2,770)
Operating lease right-of-use assets		(336)
Operating lease liabilities	(129)	(120)
Net Cash Used In Operating Activities	(7,374)	(15,077)
Cash Flows Used In Investing Activities:
Purchase of property and equipment	(11)	(76)
Net Cash Used In Investing Activities	(11)	(76)
Cash Flows Provided By Financing Activities:
Payments on finance leases	(2)	(1)
Sales of shares of common stock, net of costs	14,695	770
Proceeds from the exercise of stock options	75	1
Net Cash Provided By Financing Activities	14,768	770
Net change in cash, cash equivalents, and restricted cash	7,383	(14,383)
Cash, cash equivalents, and restricted cash at beginning of period	76,990	109,608
Cash, cash equivalents, and restricted cash at end of period	84,373	95,225
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income taxes

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Description of Business and Summary of Significant Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Note 1 - Description of Business and Summary of Significant Accounting Policies Nature of Business - Basis of Presentation - Unaudited Interim Financial Information - Principles of Consolidation - Use of Estimates Cash, Cash Equivalents and Restricted Cash - The following is a summary of cash, cash equivalents and restricted cash at March 31, 2024 and December 31, 2023: (in thousands) March 31, December 31, Cash and cash equivalents $ 84,057 $ 76,677 Restricted cash – long-term 316 313 Cash, cash equivalents and restricted cash $ 84,373 $ 76,990 Restricted cash relates to a certificate of deposit held as collateral for a letter of credit issued in connection with the Company’s lease of corporate office space. Leases Fair Value Measurement - Revenue Recognition Revenue From Contracts With Customers At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses whether the promised goods or services promised within each contract are distinct and, therefore, represent a separate performance obligation. Goods and services that are determined not to be distinct are combined with other promised goods and services until a distinct bundle is identified. In determining whether goods or services are distinct, the Company evaluates certain criteria, including whether (i) the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (capable of being distinct) and (ii) the good or service is separately identifiable from other goods or services in the contract (distinct in the context of the contract). The Company then determines the transaction price, which is the amount of consideration it expects to be entitled from a customer in exchange for the promised goods or services for each performance obligation and recognizes the associated revenue as each performance obligation is satisfied. The Company’s estimate of the transaction price for each contract includes all variable consideration to which it expects to be entitled. Variable consideration includes payments in the form of collaboration milestone payments. If an arrangement includes collaboration milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. ASC 606 requires the Company to allocate the arrangement consideration on a relative standalone selling price basis for each performance obligation after determining the transaction price of the contract and identifying the performance obligations to which that amount should be allocated. The relative standalone selling price is defined in the revenue standard as the price at which an entity would sell a promised good or service separately to a customer. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation as each performance obligation is satisfied, either at a point in time or over time, and if over time, recognition is based on the use of an output or input method. Collaborative Arrangements . Grant Revenue – License Revenue – Upfront license fees Development, regulatory or commercial milestone payments Sales-based milestone payments and royalties Upfront payments and fees may require deferral of revenue recognition to a future period until the Company performs its obligations under these arrangements or when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur or when the uncertainty associated with any variable consideration is subsequently resolved. Amounts payable to the Company are recorded as accounts receivable when the Company’s right to consideration is unconditional. Research and Development Costs - Share-Based Payments - Net Loss Per Common Share (in thousands) March 31, March 31, Stock Options 5,421 3,324 Restricted Stock Units 305 325 Warrants 1,439 1,443 Total 7,165 5,092 Recently Issued Accounting Pronouncements – Income Taxes Improvements to Income Tax Disclosures In November 2023, FASB issued ASU 2023-07, Segment Reporting Improvements to Reportable Segment Disclosures In October 2021, FASB issued ASU 2021-08, Business Combinations Account for Contract Assets and Contract Liabilities from Contracts with Customers

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 2 - Commitments and Contingencies On June 15, 2012, the Company entered into a license and sponsored research agreement with Fred Hutchinson Cancer Research Center (“FHCRC”) to build upon previous and ongoing clinical trials with apamistamab (licensed antibody). FHCRC has completed both a Phase 1 and Phase 2 clinical trial with apamistamab. The Company has been granted exclusive rights to the antibody and related master cell bank developed by FHCRC. A milestone payment of $1 million will be due to FHCRC upon U.S. Food and Drug Administration (“FDA”) approval of the first drug utilizing the licensed antibody. Upon commercial sale of the drug, royalty payments of 2% of net sales will be due to FHCRC.

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2024
Leases [Abstract]
Leases	Note 3 - Leases The Company determines if an arrangement is a lease at inception. This determination generally depends on whether the arrangement conveys to the Company the right to control the use of a fixed asset for a period of time in exchange for consideration. Control of an underlying asset is conveyed to the Company if the Company obtains the rights to direct the use of and to obtain substantially all of the economic benefits from using the underlying asset. The Company has lease agreements which include lease and non-lease components, which the Company has elected to account for as a single lease component for all classes of underlying assets. Lease expense for variable lease components are recognized when the obligation is probable. The Company made an accounting policy election to exclude from balance sheet reporting those leases with initial terms of 12 months or less. Right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. As an implicit interest rate was not readily determinable in the Company’s leases, the incremental borrowing rate was used based on the information available at commencement date in determining the present value of lease payments. The lease term for all of the Company’s leases includes the non-cancellable period of the lease plus any additional periods covered by either a Company option to extend (or not to terminate) the lease that the Company is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. Options for lease renewals have been excluded from the lease term (and lease liability) for the majority of the Company’s leases as the reasonably certain threshold is not met. At March 31, 2024, the Company has two leases which have been capitalized in accordance with ASC 842, one for corporate office space and one for office equipment. The Company entered into a lease for corporate office space effective June 1, 2022. The lease has a term of 5 years 2 months, with an expiration date on July 30, 2027 and current annual rent of $0.6 million. The Company is also responsible for certain other costs, such as insurance, utilities and maintenance. During 2023, the Company spent $0.5 million in improvements at its corporate office space, which has been included in the value of the operating right-to-use asset. The components of lease expense are as follows: Three months ended (in thousands) March 31, March 31, Operating lease expense $ 173 $ 162 Finance lease cost Amortization of right-to-use assets $ 2 $ 1 Interest on lease liabilities $ 1 $ 1 Total finance lease cost $ 3 $ 2 Supplemental cash flow information related to leases are as follows: Cash flow information: Three months ended (in thousands) March 31, March 31, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow use from operating leases $ 153 $ 150 Operating cash flow use from finance leases $ 3 $ 1 Financing cash flow use from finance leases $ 2 $ 1 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations: Operating leases $ - $ - Finance Leases $ - $ - Weighted average remaining lease terms are as follows at March 31, 2024: Weighted average remaining lease term: Operating leases 3.3 years Finance Leases 2.8 years As the interest rate implicit in the leases was not readily determinable at the time that the leases were evaluated, the Company used its incremental borrowing rate based on the information available in determining the present value of lease payments. The Company’s incremental borrowing rate was based on the term of the lease, the economic environment of the lease and reflects the rate the Company would have had to pay to borrow on a secured basis. Below is information on the weighted average discount rates used at the time that the leases were evaluated: Weighted average discount rates: Operating leases 4.8 % Finance Leases 6.2 % Maturities of lease liabilities are as follows: (in thousands) Operating Finance 2024 (excluding three months ended March 31, 2024) 466 8 2025 630 11 2026 643 11 2027 380 - Total lease payments $ 2,119 $ 30 Less imputed interest (165 ) (2 ) Present value of lease liabilities $ 1,954 $ 28

Other Revenue

Other Revenue	3 Months Ended
Other Revenue	Mar. 31, 2024
Other Revenue [Abstract]
Other revenue	Note 4 – Other revenue The Company has a grant from a government-sponsored entity for research and development related activities that provides payments for reimbursed costs, which included overhead and general and administrative costs, as well as an administrative fee. The Company recognizes revenue from grants as it performed services under this arrangement. Associated expenses are recognized when incurred as research and development expense. There was no other revenue recognized from this grant for the three months ended March 31, 2024 and 2023, respectively. On April 7, 2022, the Company entered into a license and supply agreement (the “License Agreement”) with Immedica Pharma AB (“Immedica”), pursuant to which Immedica licensed the exclusive product rights for commercialization of Iomab-B (I-131 apamistamab) in the European Economic Area, Middle East and North Africa (EUMENA) including Algeria, Andorra, Bahrain, Cyprus, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Monaco, Morocco, Oman, Palestine, Qatar, San Marino, Saudi Arabia, Switzerland, Syria, Tunisia, Turkey, the United Arab Emirates, the United Kingdom, the Vatican City and Yemen. Upon signing, the Company was entitled to an upfront payment of $35 million from Immedica, which was received in May 2022. Under the terms of the License Agreement, the Company is eligible to receive regulatory and commercial milestone payments and is entitled to receive royalties in the mid-20 percent range on net sales of the product in certain countries that may result from the License Agreement. The Company will continue to be responsible for certain clinical development activities and the manufacturing of Iomab-B and will retain commercialization rights in the U.S. and rest of the world. The Company’s contract liabilities are recorded within Other revenue deferred – current liability or Long-term license revenue deferred in its condensed consolidated balance sheets, depending on the short-term or long-term nature of the payments to be recognized. The Company’s contract liabilities primarily consist of advanced payments from licensees. Long-term license revenue deferred was $35.0 million at March 31, 2024 and March 31, 2023; this deferred revenue will be recognized upon European Union regulatory approval of Iomab B.

Equity

Equity	3 Months Ended
Equity	Mar. 31, 2024
Equity [Abstract]
Equity	Note 5 - Equity In August 2020, the Company entered into the Capital on Demand™ Sales Agreement with JonesTrading Institutional Services LLC, “JonesTrading”, pursuant to which the Company may sell, from time to time, through or to JonesTrading, up to an aggregate of $200 million of its common stock. On June 28, 2022, the Company entered into an Amended and Restated Capital on Demand™ Sales Agreement (the “A&R Sales Agreement”) with JonesTrading and B. Riley Securities, Inc. (“B. Riley”). The A&R Sales Agreement modifies the original Capital on Demand™ Sales Agreement to include B. Riley Securities as an additional sales agent thereunder. Shares of common stock are offered pursuant to a shelf registration statement on Form S-3 (File No. 333-242322) filed with the SEC on August 7, 2020 (the “Prior Shelf Registration Statement”). On August 11, 2023, the Company filed a new registration statement on Form S-3 (File No. 333-273911), which registration statement was amended on February 2, 2024, and declared effective on February 5, 2024, to replace the Prior Shelf Registration Statement, including a base prospectus which covers the offering, issuance and sale of up to $500 million of common stock, preferred stock, warrants, units and/or subscription rights; and a sales agreement prospectus covering the offering, issuance and sale of up to a maximum aggregate offering price of $200 million of common stock that may be issued and sold under the Amended Sales Agreement. For the three months ended March 31, 2024, the Company sold 1.8 million shares of common stock, resulting in gross proceeds of $15.0 million and net proceeds of $14.7 million. For the three months ended March 31, 2023, the Company sold 0.1 million shares of common stock, resulting in gross proceeds and net proceeds of $0.8 million. Stock Options The following is a summary of stock option activity for the three months ended March 31, 2024: (in thousands, except for per-share amounts) Number of Shares Weighted Weighted Aggregate Outstanding, January 1, 2024 5,445 $ 6.80 8.70 $ 373 Granted - - Exercised (10 ) 7.39 Cancelled (14 ) 5.76 Outstanding, March 31, 2024 5,421 6.80 8.49 12,545 Exercisable, March 31, 2024 1,797 9.84 7.32 3,144 During the three months ended March 31, 2024, the Company did not grant any stock options. The fair values of all options issued and outstanding are being amortized over their respective vesting periods. The unrecognized compensation expense at March 31, 2024 was $13.2 million related to unvested options, which is expected to be expensed over a weighted average of 3.2 years. During the three months ended March 31, 2024 and 2023, the Company recorded compensation expense related to stock options of $1.2 million and $0.8 million, respectively. Restricted Stock Units The following is a summary of restricted stock unit activity for the three months ended March 31, 2024: (in thousands, except for per-share amount) RSUs Weighted Outstanding, January 1, 2024 305 5.89 Granted - - Vested - - Outstanding, March 31, 2024 305 5.89 The RSUs vest at the earliest of a change of control event, the termination of the recipient’s continuous service status for any reason other than by the Company for cause and the third anniversary of the date of the grant. The fair value of the RSUs, $1.8 million, was determined based on the stock prices on the dates of the grants and is being recognized over three years. The unrecognized compensation expense at March 31, 2024 of $0.8 million is expected to be expensed over 1.4 years. During the three months ended March 31, 2024 and 2023, the Company recorded compensation expense related to RSUs of $0.1 million and $0.2 million, respectively. Warrants Following is a summary of warrant activity for the three months ended March 31, 2024: (in thousands, except for per-share amounts) Number of Shares Weighted Weighted Aggregate Outstanding, January 1, 2024 1,442 $ 16.42 0.34 $ - Granted - - Expired (3 ) 166.50 Outstanding, March 31, 2024 1,439 $ 16.08 0.09 $ - Exercisable, March 31, 2024 1,436 $ 15.58 0.08 $ -

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2024
Subsequent Event [Abstract]
Subsequent Events	Note 6 - Subsequent Events Since March 31, 2024, the Company sold 0.4 million shares of common stock under its A&R Capital on Demand Sales Agreement, resulting in net proceeds of $3.4 million. On April 23, 2024, outstanding warrants to purchase up to 1.4 million shares of the Company’s common stock, with an exercise price of $15.00 per share, expired, according to their terms. Following the expiration of such warrants, the Company has less than thirteen thousand warrants outstanding.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (8,670)	$ (11,037)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
Accounting Policies, by Policy (Policies)	Mar. 31, 2024
Description of Business and Summary of Significant Accounting Policies [Abstract]
Nature of Business	Nature of Business -
Basis of Presentation - Unaudited Interim Financial Information	Basis of Presentation - Unaudited Interim Financial Information -
Principles of Consolidation	Principles of Consolidation -
Use of Estimates	Use of Estimates
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash - The following is a summary of cash, cash equivalents and restricted cash at March 31, 2024 and December 31, 2023: (in thousands) March 31, December 31, Cash and cash equivalents $ 84,057 $ 76,677 Restricted cash – long-term 316 313 Cash, cash equivalents and restricted cash $ 84,373 $ 76,990 Restricted cash relates to a certificate of deposit held as collateral for a letter of credit issued in connection with the Company’s lease of corporate office space.
Leases	Leases
Fair Value Measurement	Fair Value Measurement -
Revenue Recognition	Revenue Recognition Revenue From Contracts With Customers At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses whether the promised goods or services promised within each contract are distinct and, therefore, represent a separate performance obligation. Goods and services that are determined not to be distinct are combined with other promised goods and services until a distinct bundle is identified. In determining whether goods or services are distinct, the Company evaluates certain criteria, including whether (i) the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (capable of being distinct) and (ii) the good or service is separately identifiable from other goods or services in the contract (distinct in the context of the contract). The Company then determines the transaction price, which is the amount of consideration it expects to be entitled from a customer in exchange for the promised goods or services for each performance obligation and recognizes the associated revenue as each performance obligation is satisfied. The Company’s estimate of the transaction price for each contract includes all variable consideration to which it expects to be entitled. Variable consideration includes payments in the form of collaboration milestone payments. If an arrangement includes collaboration milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. ASC 606 requires the Company to allocate the arrangement consideration on a relative standalone selling price basis for each performance obligation after determining the transaction price of the contract and identifying the performance obligations to which that amount should be allocated. The relative standalone selling price is defined in the revenue standard as the price at which an entity would sell a promised good or service separately to a customer. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation as each performance obligation is satisfied, either at a point in time or over time, and if over time, recognition is based on the use of an output or input method.
Collaborative Arrangements	Collaborative Arrangements .
Grant Revenue	Grant Revenue –
License Revenue	License Revenue – Upfront license fees Development, regulatory or commercial milestone payments Sales-based milestone payments and royalties Upfront payments and fees may require deferral of revenue recognition to a future period until the Company performs its obligations under these arrangements or when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur or when the uncertainty associated with any variable consideration is subsequently resolved. Amounts payable to the Company are recorded as accounts receivable when the Company’s right to consideration is unconditional.
Research and Development Costs	Research and Development Costs -
Share-Based Payments	Share-Based Payments -
Net Loss Per Common Share	Net Loss Per Common Share (in thousands) March 31, March 31, Stock Options 5,421 3,324 Restricted Stock Units 305 325 Warrants 1,439 1,443 Total 7,165 5,092
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements – Income Taxes Improvements to Income Tax Disclosures In November 2023, FASB issued ASU 2023-07, Segment Reporting Improvements to Reportable Segment Disclosures In October 2021, FASB issued ASU 2021-08, Business Combinations Account for Contract Assets and Contract Liabilities from Contracts with Customers

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Description of Business and Summary of Significant Accounting Policies [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	The following is a summary of cash, cash equivalents and restricted cash at March 31, 2024 and December 31, 2023: (in thousands) March 31, December 31, Cash and cash equivalents $ 84,057 $ 76,677 Restricted cash – long-term 316 313 Cash, cash equivalents and restricted cash $ 84,373 $ 76,990
Schedule of Computation of Diluted Net Loss Per Share	For the three months ended March 31, 2024 and 2023, the Company’s potentially dilutive shares, which include outstanding common stock options, restricted stock units and warrants, have not been included in the computation of diluted net loss per share as the result would have been anti-dilutive. (in thousands) March 31, March 31, Stock Options 5,421 3,324 Restricted Stock Units 305 325 Warrants 1,439 1,443 Total 7,165 5,092

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2024
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense are as follows: Three months ended (in thousands) March 31, March 31, Operating lease expense $ 173 $ 162 Finance lease cost Amortization of right-to-use assets $ 2 $ 1 Interest on lease liabilities $ 1 $ 1 Total finance lease cost $ 3 $ 2
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases are as follows: Three months ended (in thousands) March 31, March 31, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow use from operating leases $ 153 $ 150 Operating cash flow use from finance leases $ 3 $ 1 Financing cash flow use from finance leases $ 2 $ 1 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations: Operating leases $ - $ - Finance Leases $ - $ -
Schedule of Weighted Average Remaining Lease Terms	Weighted average remaining lease terms are as follows at March 31, 2024: Weighted average remaining lease term: Operating leases 3.3 years Finance Leases 2.8 years
Schedule of Weighted Average Discount Rates	Below is information on the weighted average discount rates used at the time that the leases were evaluated: Weighted average discount rates: Operating leases 4.8 % Finance Leases 6.2 %
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities are as follows: (in thousands) Operating Finance 2024 (excluding three months ended March 31, 2024) 466 8 2025 630 11 2026 643 11 2027 380 - Total lease payments $ 2,119 $ 30 Less imputed interest (165 ) (2 ) Present value of lease liabilities $ 1,954 $ 28

Equity (Tables)

Equity (Tables)	3 Months Ended
Equity (Tables)	Mar. 31, 2024
Equity [Abstract]
Schedule of Stock Option Activity	The following is a summary of stock option activity for the three months ended March 31, 2024: (in thousands, except for per-share amounts) Number of Shares Weighted Weighted Aggregate Outstanding, January 1, 2024 5,445 $ 6.80 8.70 $ 373 Granted - - Exercised (10 ) 7.39 Cancelled (14 ) 5.76 Outstanding, March 31, 2024 5,421 6.80 8.49 12,545 Exercisable, March 31, 2024 1,797 9.84 7.32 3,144
Schedule of Restricted Stock Unit Activity	The following is a summary of restricted stock unit activity for the three months ended March 31, 2024: (in thousands, except for per-share amount) RSUs Weighted Outstanding, January 1, 2024 305 5.89 Granted - - Vested - - Outstanding, March 31, 2024 305 5.89
Schedule of Warrant Activity	Following is a summary of warrant activity for the three months ended March 31, 2024: (in thousands, except for per-share amounts) Number of Shares Weighted Weighted Aggregate Outstanding, January 1, 2024 1,442 $ 16.42 0.34 $ - Granted - - Expired (3 ) 166.50 Outstanding, March 31, 2024 1,439 $ 16.08 0.09 $ - Exercisable, March 31, 2024 1,436 $ 15.58 0.08 $ -

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Details) - Schedule of Cash, Cash Equivalents and Restricted Cash - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Schedule of Cash, Cash Equivalents and Restricted Cash [Abstract]
Cash and cash equivalents	$ 84,057	$ 76,677
Restricted cash – long-term	316	313
Cash, cash equivalents and restricted cash	$ 84,373	$ 76,990	$ 95,225	$ 109,608

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies (Details) - Schedule of Computation of Diluted Net Loss Per Share - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Computation of Diluted Net Loss Per Share [Line Items]
Total	7,165	5,092
Stock Options [Member]
Schedule of Computation of Diluted Net Loss Per Share [Line Items]
Total	5,421	3,324
Restricted Stock Units [Member]
Schedule of Computation of Diluted Net Loss Per Share [Line Items]
Total	305	325
Warrants [Member]
Schedule of Computation of Diluted Net Loss Per Share [Line Items]
Total	1,439	1,443

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jun. 15, 2012	Mar. 31, 2024
Commitments and Contingencies [Abstract]
Milestone payment	$ 1
Description of royalty payment		Upon commercial sale of the drug, royalty payments of 2% of net sales will be due to FHCRC.
Royalty payments percentage	2%

Leases (Details)

Leases (Details) $ in Millions	3 Months Ended
Leases (Details) $ in Millions	Mar. 31, 2024 USD ($)
Leases [Line Items]
Lease term	5 years 2 months
Expiration date	Jul. 30, 2027
Current annual rent	$ 0.6
Corporate Office Space [Member]
Leases [Line Items]
Operating right-to-use asset	$ 0.5

Leases (Details) - Schedule of

Leases (Details) - Schedule of Components of Lease Expense - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Components of Lease Expense [Abstract]
Operating lease expense	$ 173	$ 162
Finance lease cost
Amortization of right-to-use assets	2	1
Interest on lease liabilities	1	1
Total finance lease cost	$ 3	$ 2

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Supplemental Cash Flow Information Related to Leases - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow use from operating leases	$ 153	$ 150
Operating cash flow use from finance leases	3	1
Financing cash flow use from finance leases	2	1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases
Finance Leases

Leases (Details) - Schedule o_3

Leases (Details) - Schedule of Weighted Average Remaining Lease Terms	Mar. 31, 2024
Weighted average remaining lease term:
Operating leases	3 years 3 months 18 days
Finance Leases	2 years 9 months 18 days

Leases (Details) - Schedule o_4

Leases (Details) - Schedule of Weighted Average Discount Rates	Mar. 31, 2024
Weighted average discount rates:
Operating leases	4.80%
Finance Leases	6.20%

Leases (Details) - Schedule o_5

Leases (Details) - Schedule of Maturities of Lease Liabilities $ in Thousands	Mar. 31, 2024 USD ($)
Schedule of Maturities of Lease Liabilities [Abstract]
Operating Leases, 2024 (excluding three months ended March 31, 2024)	$ 466
Finance Leases, 2024 (excluding three months ended March 31, 2024)	8
Operating Leases, 2025	630
Finance leases, 2025	11
Operating Leases, 2026	643
Finance Leases, 2026	11
Operating Leases, 2027	380
Finance Leases, 2027
Operating leases payments	2,119
Finance leases payments	30
Operating Leases imputed interest	(165)
Finance leases imputed interest	(2)
Present value of operating lease liabilities	1,954
Present value of finance lease liabilities	$ 28

Other Revenue (Details)

Other Revenue (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	May 31, 2022
Other Revenue [Abstract]
Upfront payment				$ 35,000
Long-term license revenue deferred	$ 35,000	$ 35,000	$ 35,000

Equity (Details)

Equity (Details) - USD ($) $ in Thousands, shares in Millions		1 Months Ended	3 Months Ended
	Aug. 11, 2023	Aug. 31, 2020	Mar. 31, 2024	Mar. 31, 2023
Equity [Line Items]
Net proceeds			$ 14,695	$ 770
Stock Options [Member]
Equity [Line Items]
Unrecognized compensation expense			$ 13,200
Weighted average term			3 years 2 months 12 days
Compensation expense			$ 1,200	800
Restricted Stock Units [Member]
Equity [Line Items]
Weighted average term			1 year 4 months 24 days
Compensation expense			$ 100	$ 200
Fair value of RSU			$ 1,800
Vesting period			3 years
Unrecognized compensation			$ 800
Capital on Demand Sales Agreement [Member]
Equity [Line Items]
Aggregate value of common stock		$ 200,000
Shares of common stock (in Shares)			1.8	0.1
Gross proceeds			$ 15,000	$ 800
Net proceeds			$ 14,700	$ 800
Common Stock [Member] \| Warrant [Member]
Equity [Line Items]
Issuance and sale of stock	$ 500,000
Common Stock [Member] \| Amended Sales Agreement [Member]
Equity [Line Items]
Aggregate value of common stock	$ 200,000

Equity (Details) - Schedule of

Equity (Details) - Schedule of Stock Option Activity - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Jan. 01, 2024	Mar. 31, 2024
Schedule of Stock Option Activity [Abstract]
Number of Shares Outstanding, Ending balance	5,445	5,421
Weighted Average Exercise Price Outstanding,Ending balance	$ 6.8	$ 6.8
Weighted Average Remaining Contractual Term (in years) Outstanding, Ending balance	8 years 8 months 12 days	8 years 5 months 26 days
Aggregate Intrinsic Value Outstanding, Ending balance	$ 373	$ 12,545
Number of Shares Outstanding, Exercisable		1,797
Weighted Average Exercise Price Outstanding, Exercisable		$ 9.84
Weighted Average Remaining Contractual Term (in years) Outstanding, Exercisable		7 years 3 months 25 days
Aggregate Intrinsic Value Outstanding, Exercisable		$ 3,144
Number of Shares, Granted
Weighted Average Exercise Price, Granted
Number of Shares, Exercised		(10)
Weighted Average Exercise Price, Exercised		$ 7.39
Number of Shares, Cancelled		(14)
Weighted Average Exercise Price, Cancelled		$ 5.76

Equity (Details) - Schedule _2

Equity (Details) - Schedule of Restricted Stock Unit Activity - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Equity (Details) - Schedule of Restricted Stock Unit Activity [Line Items]
RSUs Outstanding, Beginning balance \| shares	305,000
Weighted Average Grant date Fair Value Per Share, Outstanding Beginning balance \| $ / shares	$ 5.89
RSUs Outstanding, Ending balance \| shares	305,000
Weighted Average Grant date Fair Value Per Share, Outstanding Ending balance \| $ / shares	$ 5.89
RSUs Outstanding, Granted \| shares
Weighted Average Grant date Fair Value Per Share, Granted \| $ / shares
RSUs Outstanding, Vested \| shares
Weighted Average Grant date Fair Value Per Share, Vested \| $ / shares

Equity (Details) - Schedule _3

Equity (Details) - Schedule of Warrant Activity - Warrant [Member] - USD ($)		3 Months Ended
	Jan. 01, 2024	Mar. 31, 2024
Class of Warrant [Line Items]
Number of Shares Outstanding, balance	1,442	1,439
Weighted Average Exercise Price Outstanding, balance	16.42	16.08
Weighted Average Remaining Contractual Term (in years) Outstanding balance	4 months 2 days	1 month 2 days
Aggregate Intrinsic Value Outstanding, balance (in Dollars)
Number of Shares, Exercisable		1,436
Weighted Average Exercise Price, Exercisable (in Dollars per share)		$ 15.58
Weighted Average Remaining Contractual Term (in years) Outstanding balance		29 days
Aggregate Intrinsic Value, Exercisable (in Dollars)
Number of Shares, Granted
Weighted Average Exercise Price, Granted
Number of Warrants, Expired		(3)
Weighted Average Exercise Price, Expired		166.5

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended
	Apr. 30, 2024	Apr. 23, 2024
Subsequent Event [Line Items]
Net proceeds (in Dollars)	$ 3.4
Outstanding warrants purchase		1,400
Exercise price per share (in Dollars per share)		$ 15
A&R Capital on Demand Sales Agreement [Member]
Subsequent Event [Line Items]
Sale of common shares	400
Minimum [Member]
Subsequent Event [Line Items]
Outstanding warrants purchase		13