Fair Value Measurements (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
|---|
| Urica |
|
| Summary of the Weighted average Significant Unobservable Inputs |
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2023 |
|
|
2022 |
|
Risk-free interest rate |
|
3.93 |
% |
|
3.94 |
% |
Expected dividend yield |
|
— |
|
|
— |
|
Expected term in years |
|
0.5 |
|
|
1.5 |
|
Expected volatility |
|
153.6 |
% |
|
70.7 |
% |
|
| Warrants to Purchase Common Stock [Member] |
|
| Schedule of revaluation of warrant liability |
|
|
|
|
|
|
|
Warrants |
|
($ in thousands) |
|
liabilities |
|
Balance at December 31, 2021 |
|
$ |
— |
|
Checkpoint Series A & B common stock warrants |
|
|
7,640 |
|
Checkpoint placement agent warrants |
|
|
278 |
|
Avenue common stock warrants |
|
|
8,278 |
|
Urica placement agent warrants |
|
|
90 |
|
Change in fair value of common stock warrants - Avenue |
|
|
(5,669) |
|
Change in fair value of common stock warrants - Checkpoint |
|
|
3,252 |
|
Balance at December 31, 2022 |
|
|
13,869 |
|
Avenue common stock warrants |
|
|
2,235 |
|
Urica placement agent warrants |
|
|
33 |
|
Change in fair value of common stock warrants - Avenue |
|
|
(4,258) |
|
Change in fair value of common stock warrants - Checkpoint |
|
|
(7,924) |
|
Change in fair value of placement agent warrants - Urica |
|
|
52 |
|
Exercise of common stock warrants - Checkpoint |
|
|
(3,121) |
|
Balance at December 31, 2023 |
|
$ |
886 |
|
|
| Warrants to Purchase Common Stock [Member] | Checkpoint Common Stock Warrants |
|
| Schedule of revaluation of warrant liability |
|
|
|
|
|
|
Checkpoint |
|
|
Warrant |
($ in thousands) |
|
Liability |
Common stock warrant liabilities at December 31, 2021 |
|
$ |
- |
Issuance of Checkpoint common warrants |
|
|
7,640 |
Issuance of placement agent warrants |
|
|
278 |
Change in fair value of common stock warrant liabilities |
|
|
3,252 |
Common Stock Warrant liabilities at December 31, 2022 |
|
|
11,170 |
Change in fair value of common stock warrant liabilities |
|
|
(7,924) |
Exercise of common stock warrants |
|
|
(3,121) |
Common Stock Warrant liabilities at December 31, 2023 |
|
$ |
125 |
|
| Warrants to Purchase Common Stock [Member] | Avenue Therapeutics, Inc [Member] |
|
| Schedule of revaluation of warrant liability |
|
|
|
|
|
|
Avenue |
|
|
Warrant |
($ in thousands) |
|
Liability |
Common stock warrant liabilities at December 31, 2021 |
|
$ |
- |
Issuance of Avenue common warrants |
|
|
8,278 |
Change in fair value of common stock warrant liabilities |
|
|
(5,669) |
Common Stock Warrant liabilities at December 31, 2022 |
|
|
2,609 |
Issuance of Avenue common warrants |
|
|
2,235 |
Change in fair value of common stock warrant liabilities |
|
|
(4,258) |
Common Stock Warrant liabilities at December 31, 2023 |
|
$ |
586 |
|
| Summary of the Weighted average Significant Unobservable Inputs |
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
January 31 |
|
|
December 31 |
|
|
|
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
Stock price |
|
$ 0.16 |
|
|
$ 1.38 |
|
|
$ 1.16 |
|
|
Risk-free interest rate |
|
3.84 - 4.23 |
% |
|
3.90 |
% |
|
4.02 |
% |
|
Expected dividend yield |
|
— |
|
|
— |
|
|
— |
|
|
Expected term in years |
|
2.1 - 3.8 |
|
|
3.00 |
|
|
4.78 |
|
|
Expected volatility |
|
148 - 175 |
% |
|
160 |
% |
|
93 |
% |
|
|
| Series A Warrants | Checkpoint Common Stock Warrants |
|
| Summary of the Weighted average Significant Unobservable Inputs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
October 4, |
|
|
December 31, |
|
Checkpoint Warrants |
|
2023 |
|
2023 |
|
|
2022 |
|
Exercise price |
|
$ |
5.41 |
|
$ |
1.76 |
|
|
$ |
4.08 - 5.41 |
|
Volatility |
|
|
96.4 |
% |
|
91.4 - 99.6 |
% |
|
|
82.4 - 89.4 |
% |
Expected life |
|
|
4.0 |
|
|
0.7 - 4.2 |
|
|
|
1.5 - 5.0 |
|
Risk-free rate |
|
|
3.8 |
% |
|
4.7 - 5.4 |
% |
|
|
4.0 - 4.7 |
% |
|