2024 Q3 Form 10-Q Financial Statement
#000175392624001423 Filed on August 13, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
Revenue | $0.00 | ||
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $727.2K | ||
YoY Change | 169.23% | ||
% of Gross Profit | |||
Research & Development | $414.6K | $12.96K | $50.00K |
YoY Change | 744.48% | -74.09% | 87.97% |
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $2.048M | $1.764M | $777.2K |
YoY Change | 58.58% | 126.98% | 161.95% |
Operating Profit | -$2.048M | -$1.764M | -$777.2K |
YoY Change | 58.57% | 126.99% | |
Interest Expense | -$176.2K | ||
YoY Change | 371.12% | ||
% of Operating Profit | |||
Other Income/Expense, Net | $353.7K | -$7.533K | -$176.2K |
YoY Change | -372.05% | -95.72% | |
Pretax Income | -$1.695M | -$1.772M | -$953.4K |
YoY Change | 19.2% | 85.82% | 185.36% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$1.695M | -$1.772M | -$953.4K |
YoY Change | 19.2% | 85.82% | 185.36% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.29 | -$0.31 | -$0.95 |
Diluted Earnings Per Share | -$0.17 | ||
COMMON SHARES | |||
Basic Shares Outstanding | 5.767M shares | 5.878M shares | 1.003M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $82.00K | ||
YoY Change | 4000.0% | ||
Cash & Equivalents | $1.255M | $2.405M | $81.89K |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | $94.59K | $158.1K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $2.140M | $2.604M | $82.00K |
YoY Change | 9203.86% | 3075.12% | 4000.0% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $2.140M | $2.604M | $82.00K |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $2.140M | $2.604M | $82.00K |
YoY Change | 9203.86% | 3075.12% | 4000.0% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.547M | ||
YoY Change | 42.97% | ||
Accrued Expenses | $308.00 | $363.4K | $452.0K |
YoY Change | -99.95% | -19.6% | 1002.44% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $983.0K | ||
YoY Change | 173.06% | ||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $3.567M | $2.786M | $4.983M |
YoY Change | -39.81% | -44.09% | 72.9% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | ||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | ||
YoY Change | -100.0% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $3.567M | $2.786M | $4.983M |
Total Long-Term Liabilities | $0.00 | ||
Total Liabilities | $3.567M | $2.786M | $4.983M |
YoY Change | -39.81% | -44.09% | 15.29% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$19.55M | -$17.85M | |
YoY Change | |||
Common Stock | $583.00 | $584.00 | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$1.427M | -$182.5K | -$4.901M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $2.140M | $2.604M | $82.00K |
YoY Change | 9203.86% | 3075.12% | 4000.0% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.695M | -$1.772M | -$953.4K |
YoY Change | 19.2% | 85.82% | 185.36% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$193.6K | ||
YoY Change | -33.56% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | |||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 226.9K | ||
YoY Change | -22.77% | ||
NET CHANGE | |||
Cash From Operating Activities | -193.6K | ||
Cash From Investing Activities | |||
Cash From Financing Activities | 226.9K | ||
Net Change In Cash | 33.30K | ||
YoY Change | 1287.5% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$193.6K | ||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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---|---|---|---|---|
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2024-06-30 | ||
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-4333949 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1919908 | usd | |
CY2024Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.31 | |
CY2023Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.95 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.83 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.82 | ||
CY2024Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5773708 | shares |
CY2023Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1002779 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5232349 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1056646 | shares | |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3706537 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
272221 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-966561 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-4440877 | usd |
CY2023Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
327338 | usd |
CY2023Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
126000 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-953347 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-4900886 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-6444552 | usd |
CY2024Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
292552 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
447779 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
5972000 | usd |
CY2024Q1 | chro |
Stock Issued During Period Value Recission Of Common Stock
StockIssuedDuringPeriodValueRecissionOfCommonStock
|
-91512 | usd |
CY2024Q1 | chro |
Stock Issued During Period Value Transfer Of Liabilities To Chromocell Corp.For Preferred C Shares
StockIssuedDuringPeriodValueTransferOfLiabilitiesToChromocellCorp.ForPreferredCShares
|
2153363 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
1362821 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2562330 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1130120 | usd |
CY2024Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
366503 | usd |
CY2024Q2 | us-gaap |
Restricted Stock Expense
RestrictedStockExpense
|
13975 | usd |
CY2024Q2 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
78500 | usd |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1771619 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-182521 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4333949 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1919908 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
605630 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
49122 | usd | |
chro |
Issuance Cost From Shares Issued On Extension Of Bridge Loan
IssuanceCostFromSharesIssuedOnExtensionOfBridgeLoan
|
126000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
751530 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
599559 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-1481113 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
548297 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-282518 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
229941 | usd | |
chro |
Due From Chromocell Corporation
DueFromChromocellCorporation
|
-45786 | usd | |
chro |
Prepaid
Prepaid
|
-158102 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4944308 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-366989 | usd | |
us-gaap |
Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
|
1455416 | usd | |
us-gaap |
Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
|
90157 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
131868 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
303651 | usd | |
us-gaap |
Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
|
-214757 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
5972000 | usd | |
us-gaap |
Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
|
91512 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
7253015 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
393808 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
2308707 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
26819 | usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
96391 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
55074 | usd |
CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2405098 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
81893 | usd |
chro |
Debt Discount From Shares Issued On Extension Of Bridge Loan
DebtDiscountFromSharesIssuedOnExtensionOfBridgeLoan
|
447779 | usd | |
chro |
Debt Discount From Shares Issued On Extension Of Bridge Loan
DebtDiscountFromSharesIssuedOnExtensionOfBridgeLoan
|
126000 | usd | |
chro |
Conversion Of Notes
ConversionOfNotes
|
1362821 | usd | |
chro |
Transfer Of Liabilities To Chromocell Corp For Preferred Stock
TransferOfLiabilitiesToChromocellCorpForPreferredStock
|
2153362 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_805_eus-gaap--NatureOfOperations_zrQKt5VL6Pyd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>NOTE 1 – <span id="xdx_824_zsIHwYnK7NJ3">ORGANIZATION AND NATURE OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i>Company Background </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Chromocell Therapeutics Corporation (“Chromocell” or the “Company”) was incorporated in the State of Delaware on March 19, 2021. On August 10, 2022, the Company entered into that certain Contribution Agreement (the “Contribution Agreement”) with Chromocell Corporation, a Delaware corporation (“Chromocell Holdings”), pursuant to which, effective July 12, 2022 (the “Contribution Date”), Chromocell Holdings contributed all assets and liabilities related to Chromocell Holdings’ historical therapeutic business, including all patents, pre-clinical and Phase I study results and data, and trade secrets related to the CC8464 compound to the Company. (See Note 4)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. The Company’s clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, which has been genetically validated as a pain receptor in human physiology. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”). The Company’s goal is to develop a novel and proprietary class of NaV blockers that target the body’s peripheral nervous system.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has formally launched two programs developing pain treatment therapeutics, both based on the same proprietary molecule, as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Neuropathic Pain</span>: CC8464 is being developed to address certain types of neuropathic pain. The chemical characteristics of CC8464 restrict its entry into the CNS and limit its effect to the NaV1.7 receptors in the peripheral nervous system, which consists of the nerves outside the brain and spinal cord. Activation of other receptors in the CNS can result in side effects, including addiction and other centrally mediated adverse effects. Since CC8464 is designed to not penetrate the CNS it is highly unlikely to produce CNS mediated side effects including euphoria or addiction. Based on its characteristics, preclinical studies (described below) and the Phase 1 studies the Company has completed to date, the Company believes that CC8464, if approved, could become an attractive option for both patients and physicians as a treatment for moderate-to-severe pain in EM and iSFN.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Eye Pain</span>: Based on the same proprietary molecule as CC8464, the Company’s newly launched program, titled CT2000, is for the potential treatment of both acute and chronic eye pain. NaV1.7 receptor is present on the cornea, making it a viable biological target for treating eye pain. Eye pain may occur with various conditions, including severe dry eye disease, trauma and surgery. Existing therapies for eye pain (such as steroids, topical non-steroidal anti-inflammatory agents, lubricants, local anesthetics) are limited in their effectiveness and/or limited in the duration that they may be prescribed because of safety issues. The Company intends to explore the viability of developing CT2000 as a topical agent for the relief of eye pain. A potential advantage of this approach is that topical administration of CT2000 is unlikely to lead to any hypersensitivity or skin reactions, like what was noted with systemic administration of CC8464, because the systemic absorption from a topical administration would be extremely limited. The Company has commenced development of a topical ophthalmic formulation of CT2000 that would initially be evaluated for ophthalmic toxicology and then followed by a POC trial in patients. The Company expects the trials for this ophthalmic formulation of CT2000 to start in 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may further expand its pipeline with other internal or external compounds in the future, but all other internally discovered compounds are pre-clinical and no commercial discussions about in-licensing have been initiated to date, other than as disclosed in this quarterly report with respect to the licensing of the certain spray formulations from Benuvia Operations LLC (“Benuvia”), entered into on December 23, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The Company has a limited operating history and has not generated revenue from its intended operations. The Company’s business and operations are sensitive to general business and economic conditions in the U.S. and worldwide along with local, state, and federal governmental policy decisions. A host of factors beyond the Company’s control could cause fluctuations in these conditions. Adverse conditions may include changes in the biotechnology regulatory environment, technological advances that render the Company’s technologies obsolete, availability of resources for clinical trials, acceptance of technologies into the medical community, and competition from larger, more well-funded companies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">On February 21, 2024, the Company completed the initial public offering of its Common Stock (the “IPO”) and issued <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_uShares_c20240219__20240221__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zSBzaOLzIHH5" title="Offering shares of common stock">1,100,000</span> shares of its Common Stock at a price of $<span id="xdx_903_eus-gaap--SaleOfStockPricePerShare_iI_pid_uUSDPShares_c20240221__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zRmaJOIQForg" title="Common stock, per share">6.00</span> per share. The aggregate net proceeds from the IPO were approximately $<span id="xdx_908_eus-gaap--ProceedsFromDebtNetOfIssuanceCosts_dm_c20240219__20240221__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zSYH6xtezTR" title="Net proceeds">5.7 million</span> after deducting $<span id="xdx_90A_eus-gaap--OtherUnderwritingExpense_dm_c20240219__20240221__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zTKutCEN67vg" title="Offering expenses">0.9 million</span> in underwriting discounts and commissions and offering expenses.</span></p> | ||
CY2024Q2 | chro |
Working Capital Deficit
WorkingCapitalDeficit
|
200000 | usd |
CY2024Q2 | us-gaap |
Cash
Cash
|
2400000 | usd |
CY2024Q2 | chro |
Working Capital Deficit
WorkingCapitalDeficit
|
200000 | usd |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
100000 | usd |
CY2023Q4 | chro |
Working Capital Deficit
WorkingCapitalDeficit
|
6400000 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_849_eus-gaap--UseOfEstimates_zw7FVosvc123" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i><span id="xdx_866_zwhfVX9nwaF7">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made by management include, but are not limited to, estimating the valuation of deferred income taxes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
chro |
Disaggregation Of R And D Expenses
DisaggregationOfRAndDExpenses
|
<p id="xdx_897_ecustom--DisaggregationOfRAndDExpenses_z9jim6Ibpmff" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><span><span id="xdx_8B3_zWaCJ2MPgcrc">Below is a disaggregation of R&D expenses:</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">For the Three Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">For the Three Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">For the Six Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">For the Six Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%">Consultant</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ResearchAndDevelopmentExpense_c20240401__20240630__srt--ProductOrServiceAxis__custom--ConsultantMember_zzkVFWxoGClj" style="width: 10%; text-align: right" title="Research and development expense">107,357</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630__srt--ProductOrServiceAxis__custom--ConsultantMember_za5KYtA92g9e" style="width: 10%; text-align: right" title="Research and development expense">16,400</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630__srt--ProductOrServiceAxis__custom--ConsultantMember_z2NPwTbU3qP5" style="width: 10%; text-align: right" title="Research and development expense">137,390</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630__srt--ProductOrServiceAxis__custom--ConsultantMember_zUsqqCPLf5Tj" style="width: 10%; text-align: right" title="Research and development expense">23,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lab Materials</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ResearchAndDevelopmentExpense_c20240401__20240630__srt--ProductOrServiceAxis__custom--LabMaterialsMember_z7lsemiEUxci" style="text-align: right" title="Research and development expense">1,452</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630__srt--ProductOrServiceAxis__custom--LabMaterialsMember_zOGgoNX7lsIh" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0616">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630__srt--ProductOrServiceAxis__custom--LabMaterialsMember_z2hTgPOjkPma" style="text-align: right">1,452</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630__srt--ProductOrServiceAxis__custom--LabMaterialsMember_zNsd49pWO1h8" style="text-align: right" title="Research and development expense"><span style="-sec-ix-hidden: xdx2ixbrl0619">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lab Cell Storage</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ResearchAndDevelopmentExpense_c20240401__20240630__srt--ProductOrServiceAxis__custom--LabCellStorageMember_zD5n4k0h7117" style="text-align: right" title="Research and development expense">27,272</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630__srt--ProductOrServiceAxis__custom--LabCellStorageMember_zbMcdXcv9HOi" style="text-align: right">7,653</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630__srt--ProductOrServiceAxis__custom--LabCellStorageMember_zleDqEslNvp9" style="text-align: right">51,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630__srt--ProductOrServiceAxis__custom--LabCellStorageMember_zsoQm1wUl2t" style="text-align: right" title="Research and development expense">17,753</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Chemistry Manufacturing and Controls (“CMC”)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ResearchAndDevelopmentExpense_iN_di_c20240401__20240630__srt--ProductOrServiceAxis__custom--ChemistryManufacturingAndControlsMember_zktuBuhPVnul" style="text-align: right" title="Research and development expense">(133,780</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630__srt--ProductOrServiceAxis__custom--ChemistryManufacturingAndControlsMember_zDVSLXH1pwcd" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0628">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630__srt--ProductOrServiceAxis__custom--ChemistryManufacturingAndControlsMember_zkjMDsBzkWn5" style="text-align: right">169,617</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630__srt--ProductOrServiceAxis__custom--ChemistryManufacturingAndControlsMember_z9prSKDBTwk" style="text-align: right" title="Research and development expense"><span style="-sec-ix-hidden: xdx2ixbrl0631">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">IP Services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ResearchAndDevelopmentExpense_c20240401__20240630__srt--ProductOrServiceAxis__custom--IPServicesMember_ztqOiUbn1Nr9" style="border-bottom: Black 1pt solid; text-align: right" title="Research and development expense">10,654</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630__srt--ProductOrServiceAxis__custom--IPServicesMember_zdcuVgrZzXM8" style="border-bottom: Black 1pt solid; text-align: right">35,402</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630__srt--ProductOrServiceAxis__custom--IPServicesMember_zzZj4Te1Az9b" style="border-bottom: Black 1pt solid; text-align: right">119,704</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630__srt--ProductOrServiceAxis__custom--IPServicesMember_zD6izYiOBNQ6" style="border-bottom: Black 1pt solid; text-align: right" title="Research and development expense">195,019</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--ResearchAndDevelopmentExpense_c20240401__20240630_zGaB7oO1Adod" style="border-bottom: Black 1pt solid; text-align: right" title="Research and development expense">12,955</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_986_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630_zZYtmESaZJG8" style="border-bottom: Black 1pt solid; text-align: right" title="Research and development expense">49,955</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630_zUNgCTLpoCmj" style="border-bottom: Black 2.5pt double; text-align: right" title="Research and development expense">479,561</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630_z73fl2lZRk2h" style="border-bottom: Black 2.5pt double; text-align: right" title="Research and development expense">236,072</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> | ||
CY2024Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
12955 | usd |
CY2023Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
49955 | usd |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
479561 | usd | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
236072 | usd | |
CY2022Q4 | chro |
Director Note Description
DirectorNoteDescription
|
the Company and Mr. Todd Davis, one of the Company’s directors, entered into the Director Note for $175,000. The Director Note has an original issuance discount of $75,000, and matures on December 31, 2023, or, if earlier to occur, upon the closing of an underwritten offering of securities resulting in at least $15 million in gross proceeds. On December 28, 2023, the Company entered into an amendment to the Director Note, which extended the maturity date to February 29, 2024. On February 21, 2024, the principal and accrued interest on this note converted into 29,167 shares of the Company’s Common Stock. | |
CY2022Q4 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
75000 | usd |
CY2022Q4 | us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
15000000 | usd |
CY2024Q2 | chro |
Due To Receivable
DueToReceivable
|
40400 | usd |
us-gaap |
Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
|
131868 | usd | |
CY2024Q2 | us-gaap |
Accounts Payable And Accrued Liabilities Fair Value Disclosure
AccountsPayableAndAccruedLiabilitiesFairValueDisclosure
|
895 | usd |
CY2022Q1 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
450000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
150000 | usd |
CY2022Q1 | us-gaap |
Investment Interest Rate
InvestmentInterestRate
|
0.50 | pure |
CY2022Q1 | us-gaap |
Debt Instrument Maturity Date
DebtInstrumentMaturityDate
|
2023-02-03 | |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
14370 | usd | |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
135630 | usd | |
CY2023Q1 | us-gaap |
Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
|
the Investor Note was amended. The maturity date was extended from its original due date of February 3, 2023 to May 15, 2023, in return for the Company agreeing to pay 2% per month in accrued interest and the third party agreeing to settle its outstanding debt, including accrued interests in shares of Common Stock at the IPO. | |
CY2023Q2 | us-gaap |
Debt Conversion Description
DebtConversionDescription
|
(ii) in consideration therefor, issued to such holder 50,000 shares of Common Stock. The Company determined that this extension qualified as a modification of the Investor Note rather than an extinguishment. The Company recorded an expense of $126,000 from the issuance of the 556 shares of Common Stock based on a share price of $22.68. The $22.68 share price was based on a third-party valuation of the Company’s Common Stock, with certain adjustments as set forth below in detail in Note 7 – Stockholders’ Equity. | |
CY2024Q1 | us-gaap |
Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
|
the Company effected a 9-for-1 reverse stock split. All share and per share amounts have been retrospectively adjusted for the reverse stock split. | |
CY2023Q2 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
|
1203704 | shares |
us-gaap |
Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
|
(ii) in consideration therefor, the Company would issue upon close of the IPO, and regardless of whether the Company would have issued any shares of Series B Preferred Stock, an aggregate of 4,167 shares (such shares, the “Standby Shares”) of Common Stock to the Standby Investor (such agreement, the “Series B Securities Purchase Agreement”). In addition, pursuant to the Series B Securities Purchase Agreement, the Company was required to file a registration statement within 180 calendar days after consummation of the IPO, providing for the resale of the Standby Shares and shares of Common Stock issuable upon conversion of the Series B Preferred Stock, if issued. | ||
CY2024Q2 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
50000 | shares |
CY2024Q2 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
7500 | shares |
us-gaap |
Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
|
6462 | shares | |
CY2022Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
44800000 | usd |
CY2022Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
1187302 | shares |
CY2022Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
37.71 | |
CY2022Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
44800000 | usd |
CY2022Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
1187302 | shares |
CY2022Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
37.71 | |
CY2022Q3 | chro |
Illiquidity Discount
IlliquidityDiscount
|
0.20 | pure |
CY2022Q3 | chro |
Minority Discount
MinorityDiscount
|
0.20 | pure |
CY2022Q3 | chro |
Fair Value Of Common Stock Per Share
FairValueOfCommonStockPerShare
|
22.68 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
197560 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
22.68 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
634000 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
1.30 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
11111 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
22.68 | ||
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
820449 | shares |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
6.159 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
116612 | shares |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
22.68 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
50002 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
22.68 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
158670 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
22.68 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
11111 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
22.68 | ||
CY2023Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
197560 | shares |
CY2023Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
22.68 | |
CY2023Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
34724 | shares |
CY2023Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
22.68 | |
CY2023Q4 | chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedNumberOfShares
|
113429 | shares |
CY2023Q4 | chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedWeightedAverageGrantDateFairValue
|
22.68 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
634000 | shares | |
chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.30 | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
43592 | shares | |
chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsVestedWeightedAverageGrantDateFairValue
|
22.68 | ||
CY2024Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
703837 | shares |
CY2024Q2 | chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedWeightedAverageGrantDateFairValue
|
3.42 | |
CY2022Q4 | chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedNumberOfShares
|
45556 | shares |
CY2022Q4 | chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedWeightedAverageGrantDateFairValue
|
22.68 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
158670 | shares | |
chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriodWeightedAverageGrantDateFairValue
|
22.68 | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
30232 | shares | |
chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsVestedWeightedAverageGrantDateFairValue
|
22.68 | ||
CY2023Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
173994 | shares |
CY2023Q2 | chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedWeightedAverageGrantDateFairValue
|
22.68 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
634000 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
158670 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
|
1.30 | ||
chro |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue1
|
22.68 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
12680 | usd | |
CY2024Q2 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
366503 | usd |
CY2023Q2 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
327338 | usd |
chro |
General And Administrative Expenses
GeneralAndAdministrativeExpenses
|
659055 | usd | |
chro |
General And Administrative Expenses
GeneralAndAdministrativeExpenses
|
599559 | usd | |
us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
2057817 | usd | |
chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriodGross
|
55000 | shares | |
chro |
Share Based Compensation Arrangements By Share Based Payment Award Warrants Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardWarrantsGrantsInPeriodWeightedAverageExercisePrice
|
7.50 | ||
CY2024Q2 | chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsOutstandingNumber
|
55000 | shares |
CY2024Q2 | chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsOutstandingWeightedAverageExercisePrice
|
7.50 | |
CY2024Q2 | chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsExercisableNumber
|
55000 | shares |
CY2024Q2 | chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsExercisableWeightedAverageExercisePrice
|
7.50 | |
chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriodGross
|
55000 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
7.50 | ||
chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsVestedNumberOfShares
|
55000 | shares | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
7.50 | ||
chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriod
|
55000 | shares | |
chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriod
|
0 | shares | |
chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriodGrantDateIntrinsicValue
|
7.50 | ||
chro |
Share Based Compensation Arrangement By Share Based Payment Award Warrants Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsExercisesInPeriodTotalIntrinsicValue
|
0 | usd | |
CY2024Q1 | us-gaap |
Class Of Warrant Or Right Expense Or Revenue Recognized
ClassOfWarrantOrRightExpenseOrRevenueRecognized
|
the Company issued warrants to purchase up to 55,000 shares of Common Stock to the representative of the underwriters of the IPO (the “Representative”). These warrants have an exercise price of $7.50, have a cashless exercise provision, are exercisable 180 days following the commencement of sales of the shares of Common Stock of the IPO and have an expiration date of February 21, 2029 | |
chro |
Share Based Compensation Arrangement By Share Based Payment Award Rs Us Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardRSUsGrantsInPeriodGross
|
257993 | shares | |
chro |
Share Based Compensation Arrangement By Share Based Payment Award Rs Us Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardRSUsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.30 | ||
CY2024Q2 | chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Rs Us Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardRSUsNonvestedNumberOfShares
|
257993 | shares |
CY2024Q1 | chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Rs Us Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardRSUsNonvestedWeightedAverageGrantDateFairValue
|
1.30 | |
chro |
Sharebased Compensation Arrangement By Sharebased Payment Rs Us Warrants Nonvested Period
SharebasedCompensationArrangementBySharebasedPaymentRSUsWarrantsNonvestedPeriod
|
257993 | shares | |
chro |
Sharebased Compensation Arrangement By Sharebased Payment Award Rs Us Nonvested Period
SharebasedCompensationArrangementBySharebasedPaymentAwardRSUsNonvestedPeriod
|
0 | shares | |
chro |
Share Based Compensation Arrangement By Share Based Payment Award Rs Us Grants Non Vested In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardRSUsGrantsNonVestedInPeriodGrantDateIntrinsicValue
|
1.30 | ||
CY2024Q2 | chro |
Adjustment For Amortization1
AdjustmentForAmortization1
|
13975 | usd |
CY2023Q2 | chro |
Adjustment For Amortization1
AdjustmentForAmortization1
|
0 | usd |
us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
13975 | usd | |
us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
0 | usd | |
CY2024Q1 | us-gaap |
Loss Contingency Damages Paid Value
LossContingencyDamagesPaidValue
|
479169 | usd |
CY2024Q1 | us-gaap |
Loss Contingency Damages Paid Value
LossContingencyDamagesPaidValue
|
479169 | usd |
CY2024Q2 | us-gaap |
Other Expenses
OtherExpenses
|
363091 | usd |
CY2024Q2 | us-gaap |
Loss Contingency Allegations
LossContingencyAllegations
|
pay an initial lump-sum payment of $10,000 toward outstanding rent and provide a copy of its Registration Statement on Form S-1 for the Company’s IPO (the “Registration Statement”) and (iii) make a final one-time lump sum payment to the EDA of $510,701 to satisfy Chromocell Holdings’ outstanding rent and additional rent obligations within 90 days of Chromocell Holdings’ executing the Settlement Agreement or within 15 days of Chromocell Holdings’ IPO, whichever was the first to occur. The complaint alleges Chromocell Holdings’ breach of each of these provisions of the Settlement Agreement and seeks a judgment for the entire amount allegedly due and owing as of September 12, 2023 ($510,701), compensatory damages, pre-judgment interest, attorney’s fees, costs of suit and such other and further relief as the court deems just and proper |