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Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
1 Months Ended 8 Months Ended 9 Months Ended 12 Months Ended
Feb. 13, 2024
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:          
Net loss       $ (7,289,577) $ (11,829,116)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation expense       460,722 476,275
Stock-based compensation expense       96,896 381,070
Amortization of right-to-use operating lease asset       656,476 596,534
Amortization of debt discount       35,655
Gain on revaluation of derivative liabilities       (290,264) (36,992)
Change in assets and liabilities:          
Prepaid expenses and other current assets       (112,321) 49,587
Accounts payable       1,280,560 (68,734)
Accrued liabilities       44,239 (692,685)
Operating lease liability       (672,373) (585,250)
Net cash used in operating activities       (5,789,987) (11,709,311)
CASH FLOWS FROM INVESTING ACTIVITIES          
Purchases of property and equipment       (694,232)
Net cash provided by investing activities       (694,232)
Cash flows from financing activities:          
Proceeds from issuance of convertible notes       605,230
Issuance costs for convertible notes       (41,193)
Common stock subscription deposit       1,875
Cash proceeds from exercise of stock options       5,766 5,625
Cash proceeds from exercise of common stock options   $ 4,300,000      
Net cash provided by financing activities       571,678 5,625
Net increase (decrease) in cash and cash equivalents       (5,218,309) (12,397,918)
Cash, restricted cash and cash equivalents at beginning of period $ 1,601,255   $ 6,819,564 6,819,564 19,217,482
Cash, restricted cash and cash equivalents at end of period       1,601,255 6,819,564
Supplemental cash flow information:          
Cash       1,518,676 6,651,454
Cash and cash equivalents       2,823 88,354
Restricted cash       79,756 79,756
Cash, restricted cash and cash equivalents       1,601,255 6,819,564
Phoenix Biotech Acquisition Corp          
Cash flows from operating activities:          
Net loss       (2,536,233) (667,736)
Adjustments to reconcile net loss to net cash used in operating activities:          
Interest income earned on marketable securities held in Trust Account       (491,571) (2,836,864)
Change in assets and liabilities:          
Prepaid expenses and other current assets       197,762 254,831
Income tax payable       (575,526) 599,159
Accounts payable and accrued expenses       1,881,964 1,638,687
Franchise tax payable       (80,324)
Net cash used in operating activities       (1,523,604) (1,092,247)
CASH FLOWS FROM INVESTING ACTIVITIES          
Cash withdrawn from Trust Account for taxes       752,300 144,544
Investment of restricted cash into marketable securities in the Trust Account       (14,335,919) (325,000)
Cash withdrawn from Trust Account in connection with Class A common stock redemption       5,638,879 181,019,852
Net cash provided by investing activities       (7,944,740) 180,839,396
Cash flows from financing activities:          
Proceeds from promissory note - related party       905,000 650,000
Redemption of Class A common stock       (33,481,627) (139,353,878)
Net cash provided by financing activities       (32,576,627) (138,703,878)
Net increase (decrease) in cash and cash equivalents       (42,044,971) 41,043,271
Cash, restricted cash and cash equivalents at beginning of period 96,873   42,141,844 42,141,844 1,098,573
Cash, restricted cash and cash equivalents at end of period       96,873 42,141,844
Supplemental cash flow information:          
Cash paid for income taxes       670,345
Supplemental disclosure of noncash activities:          
Accretion of Class A common stock subject to possible redemption       606,346 2,662,553
Shareholder redemption liability       27,842,747
Conversion of Class B common to Class A common       (459)
Excise tax liability accrued for Class A common stock redemptions       56,389
Supplemental cash flow information:          
Cash, restricted cash and cash equivalents       96,873 475,870
Successor          
Cash flows from operating activities:          
Net loss   (8,404,104)      
Adjustments to reconcile net loss to net cash used in operating activities:          
Gain from settlement of liabilities with vendors   (589,223)      
Depreciation expense   304,446      
Stock-based compensation expense   1,899,771      
Amortization of right-to-use operating lease asset   421,092      
Amortization of debt discount        
Non-cash interest expense        
Gain on revaluation of derivative liabilities   (4,870,000)      
Change in assets and liabilities:          
Prepaid expenses and other current assets   (146,618)      
Accounts payable   (360,204)      
Accrued liabilities   1,526,821      
Operating lease liability   (520,454)      
Net cash used in operating activities   (10,738,473)      
Cash flows from financing activities:          
Proceeds from issuance of convertible notes        
Issuance costs for convertible notes        
Common stock subscription deposit        
Cash proceeds from exercise of common stock options        
Proceeds from share purchases under ELOC, net of issuance costs of $1,133,333   4,139,190      
Payment of sponsor loans   (19,715)      
Advances from shareholder   13,731      
Payments for short term borrowings   (300,240)      
Proceeds from short term borrowings   408,052      
Proceeds from Preferred Warrant exercises   38,000      
Net cash provided by financing activities   12,240,682      
Net increase (decrease) in cash and cash equivalents   1,502,209      
Cash, restricted cash and cash equivalents at beginning of period   1,877,995      
Cash, restricted cash and cash equivalents at end of period 1,877,995 3,380,204      
Supplemental cash flow information:          
Cash and cash equivalents   3,305,448      
Restricted cash   79,756      
Cash, restricted cash and cash equivalents   3,380,204      
Non-cash financing activities:          
Issuance of common shares to Keystone Capital LLC for equity line of credit   500,000      
Issuance of common shares to Arena Investors LP for equity line of credit   500,000      
Successor | Series A Preferred Stock          
Cash flows from financing activities:          
Proceeds received from sale of shares of Series A Preferred Stock, net of $1,096,300 in issuance costs   6,757,700      
Proceeds received from sale of shares of Series B Preferred Stock   6,757,700      
Proceeds received from sale of shares of Series C Preferred Stock, net of $434,428 in issuance costs   6,757,700      
Successor | Series B Preferred Stock          
Cash flows from financing activities:          
Proceeds received from sale of shares of Series A Preferred Stock, net of $1,096,300 in issuance costs   500,000      
Proceeds received from sale of shares of Series B Preferred Stock   500,000      
Proceeds received from sale of shares of Series C Preferred Stock, net of $434,428 in issuance costs   500,000      
Successor | Series C Preferred Stock          
Cash flows from financing activities:          
Proceeds received from sale of shares of Series A Preferred Stock, net of $1,096,300 in issuance costs   703,964      
Proceeds received from sale of shares of Series B Preferred Stock   703,964      
Proceeds received from sale of shares of Series C Preferred Stock, net of $434,428 in issuance costs   703,964      
Predecessor          
Cash flows from operating activities:          
Net loss (572,211)   (6,024,395)    
Adjustments to reconcile net loss to net cash used in operating activities:          
Gain from settlement of liabilities with vendors      
Depreciation expense 37,356   346,164    
Stock-based compensation expense 4,431   78,919    
Amortization of right-to-use operating lease asset 115,859   486,283    
Amortization of debt discount (1,875)      
Non-cash interest expense   24,816    
Gain on revaluation of derivative liabilities (320,117)   (411,232)    
Change in assets and liabilities:          
Prepaid expenses and other current assets 142,687   41,689    
Accounts payable 128,429   892,765    
Accrued liabilities (50,370)   229,361    
Operating lease liability (121,589)   (493,587)    
Net cash used in operating activities (637,400)   (4,829,217)    
Cash flows from financing activities:          
Proceeds from issuance of convertible notes   605,230    
Issuance costs for convertible notes   (41,194)    
Common stock subscription deposit   1,875    
Cash proceeds from exercise of common stock options   5,767    
Proceeds from share purchases under ELOC, net of issuance costs of $1,133,333      
Payment of sponsor loans      
Advances from shareholder      
Payments for short term borrowings        
Proceeds from short term borrowings      
Proceeds from Preferred Warrant exercises        
Net cash provided by financing activities   571,678    
Net increase (decrease) in cash and cash equivalents (637,400)   (4,257,539)    
Cash, restricted cash and cash equivalents at beginning of period 1,601,255 $ 963,855 6,819,564 6,819,564  
Cash, restricted cash and cash equivalents at end of period 963,855   2,562,025 $ 1,601,255 $ 6,819,564
Supplemental cash flow information:          
Cash and cash equivalents 884,099   2,482,269    
Restricted cash 79,756   79,756    
Cash, restricted cash and cash equivalents 963,855   2,562,025    
Non-cash financing activities:          
Issuance of common shares to Keystone Capital LLC for equity line of credit      
Issuance of common shares to Arena Investors LP for equity line of credit      
Predecessor | Series A Preferred Stock          
Cash flows from financing activities:          
Proceeds received from sale of shares of Series A Preferred Stock, net of $1,096,300 in issuance costs      
Proceeds received from sale of shares of Series B Preferred Stock      
Proceeds received from sale of shares of Series C Preferred Stock, net of $434,428 in issuance costs      
Predecessor | Series B Preferred Stock          
Cash flows from financing activities:          
Proceeds received from sale of shares of Series A Preferred Stock, net of $1,096,300 in issuance costs      
Proceeds received from sale of shares of Series B Preferred Stock      
Proceeds received from sale of shares of Series C Preferred Stock, net of $434,428 in issuance costs      
Predecessor | Series C Preferred Stock          
Cash flows from financing activities:          
Proceeds received from sale of shares of Series A Preferred Stock, net of $1,096,300 in issuance costs      
Proceeds received from sale of shares of Series B Preferred Stock      
Proceeds received from sale of shares of Series C Preferred Stock, net of $434,428 in issuance costs