2024 Q2 Form 10-Q Financial Statement
#000121390024041014 Filed on May 09, 2024
Income Statement
Concept | 2024 Q2 | 2024 Q1 |
---|---|---|
Revenue | $0.00 | $0.00 |
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $1.212M | $1.126M |
YoY Change | ||
% of Gross Profit | ||
Research & Development | $1.254M | $629.0K |
YoY Change | 1244.02% | 581.83% |
% of Gross Profit | ||
Depreciation & Amortization | $470.00 | $597.00 |
YoY Change | -21.27% | 214.21% |
% of Gross Profit | ||
Operating Expenses | $2.467M | $1.756M |
YoY Change | 140.37% | -58.2% |
Operating Profit | -$2.467M | -$1.756M |
YoY Change | 140.37% | -58.2% |
Interest Expense | $73.64K | $92.33K |
YoY Change | 2512.62% | |
% of Operating Profit | ||
Other Income/Expense, Net | $73.64K | $92.33K |
YoY Change | 217.73% | -90.51% |
Pretax Income | -$2.393M | -$1.663M |
YoY Change | ||
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$2.393M | -$1.663M |
YoY Change | 138.58% | -67.85% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | -$0.15 | -$0.10 |
Diluted Earnings Per Share | -$0.15 | -$0.10 |
COMMON SHARES | ||
Basic Shares Outstanding | 16.01M shares | 16.01M shares |
Diluted Shares Outstanding | 16.01M shares | 16.01M shares |
Balance Sheet
Concept | 2024 Q2 | 2024 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $5.037M | $6.566M |
YoY Change | ||
Cash & Equivalents | $5.037M | $6.566M |
Short-Term Investments | ||
Other Short-Term Assets | $406.3K | $461.6K |
YoY Change | ||
Inventory | ||
Prepaid Expenses | $234.9K | $293.8K |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $5.444M | $7.028M |
YoY Change | 54.68% | 58.31% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $1.220K | $1.690K |
YoY Change | -64.94% | 105.35% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $3.792K | $3.792K |
YoY Change | 0.0% | 0.03% |
Total Long-Term Assets | $13.67K | $20.40K |
YoY Change | -65.74% | -52.33% |
TOTAL ASSETS | ||
Total Short-Term Assets | $5.444M | $7.028M |
Total Long-Term Assets | $13.67K | $20.40K |
Total Assets | $5.457M | $7.048M |
YoY Change | 53.33% | 57.26% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $759.5K | $400.4K |
YoY Change | 872.01% | 234.85% |
Accrued Expenses | $696.6K | $440.8K |
YoY Change | 156.0% | 70.25% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $1.465M | $856.3K |
YoY Change | 291.37% | 113.21% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | ||
YoY Change | ||
Total Long-Term Liabilities | $0.00 | $0.00 |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $1.465M | $856.3K |
Total Long-Term Liabilities | $0.00 | $0.00 |
Total Liabilities | $1.465M | $856.3K |
YoY Change | 282.38% | 105.45% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$19.13M | -$16.73M |
YoY Change | 48.38% | 40.77% |
Common Stock | $23.12M | $22.93M |
YoY Change | 197135.45% | 195487.95% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $3.992M | $6.192M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $5.457M | $7.048M |
YoY Change | 53.33% | 57.26% |
Cashflow Statement
Concept | 2024 Q2 | 2024 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$2.393M | -$1.663M |
YoY Change | 138.58% | -67.85% |
Depreciation, Depletion And Amortization | $470.00 | $597.00 |
YoY Change | -21.27% | 214.21% |
Cash From Operating Activities | -$1.529M | -$1.836M |
YoY Change | 29.98% | |
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 | 0.000 | $298.00 |
YoY Change | -99.99% | |
NET CHANGE | ||
Cash From Operating Activities | -1.529M | -$1.836M |
Cash From Investing Activities | ||
Cash From Financing Activities | 0.000 | $298.00 |
Net Change In Cash | -1.529M | -$1.836M |
YoY Change | -145.95% | |
FREE CASH FLOW | ||
Cash From Operating Activities | -$1.529M | -$1.836M |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
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Document Type
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|
10-Q | |
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true | |
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Document Period End Date
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|
2024-03-31 | |
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Document Fiscal Year Focus
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2024 | |
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false | |
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Entity File Number
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001-41596 | |
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Entity Registrant Name
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|
CADRENAL THERAPEUTICS, INC. | |
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Entity Incorporation State Country Code
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|
DE | |
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Entity Tax Identification Number
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88-0860746 | |
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822 A1A North | |
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Suite 306 | |
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Ponte Vedra | |
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FL | |
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32082 | |
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(904) | |
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300-0701 | |
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Common Stock, par value $0.001 per share | |
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CVKD | |
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NASDAQ | |
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4596039 | usd |
CY2023Q1 | cvkd |
Issuance Of Investor Warrants
IssuanceOfInvestorWarrants
|
108276 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1663288 | usd |
CY2024Q1 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
163223 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1836380 | usd |
CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6566418 | usd |
CY2024Q1 | cvkd |
Workings Capital
WorkingsCapital
|
6171714 | usd |
CY2024Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-16734703 | usd |
CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates and assumptions made in the accompanying financial statements include but are not limited to the fair value of stock-based awards, deferred tax assets and valuation allowance, income tax uncertainties, and certain accruals. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances change. Actual results could differ from those estimates.</p> | |
CY2024Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentration of Credit and Other Risks and Uncertainties</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist primarily of cash and cash equivalents. Cash is maintained at high credit quality financial institutions and, at times, balances may exceed federally insured limits. All interest-bearing and non-interest-bearing cash balances are insured up to $250,000 at each financial institution. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is subject to a number of risks common for early-stage biopharmaceutical companies including, but not limited to, dependency on the clinical and commercial success of its product candidate, ability to obtain regulatory approval of its product candidate, the need for substantial additional financing to achieve its goals, uncertainty of broad adoption of its approved products, if any, by physicians and patients, significant competition and untested manufacturing capabilities.</p> | |
CY2024Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2024Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | pure |
CY2024Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | pure |
CY2024Q1 | us-gaap |
Revenue Recognition Customer Acquisitions
RevenueRecognitionCustomerAcquisitions
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Acquisitions</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates acquisitions of assets and other similar transactions to assess whether or not the transaction should be accounted for as a business combination or asset acquisition by first applying a screen test to determine whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If so, the transaction is accounted for as an asset acquisition. If not, further determination is required as to whether or not the Company has acquired inputs and processes that have the ability to create outputs, which would meet the definition of a business. Significant judgment is required in the application of the screen test to determine whether an acquisition is a business combination or an acquisition of assets.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Acquisitions meeting the definition of business combinations are accounted for using the acquisition method of accounting, which requires that the purchase price be allocated to the net assets acquired at their respective fair values. In a business combination, any excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For asset acquisitions, a cost accumulation model is used to determine the cost of an asset acquisition. Direct transaction costs are recognized as part of the cost of an asset acquisition. The Company also evaluates which elements of a transaction should be accounted for as a part of an asset acquisition and which should be accounted for separately. The cost of an asset acquisition, including transaction costs, is allocated to identifiable assets acquired and liabilities assumed based on a relative fair value basis. Goodwill is not recognized in an asset acquisition. Any difference between the cost of an asset acquisition and the fair value of the net assets acquired is allocated to the non-monetary identifiable assets based on their relative fair values. When a transaction accounted for as an asset acquisition includes an in-process research and development (“IPR&D”) asset, the IPR&D asset is only capitalized if it has an alternative future use other than in a particular research and development project. For an IPR&D asset to have an alternative future use: (a) the Company must reasonably expect that it will use the asset acquired in an alternative manner and anticipate economic benefit from that alternative use, and (b) the Company’s use of the asset acquired is not contingent on the further development of the asset subsequent to the acquisition date (that is, the asset can be used in an alternative manner in the condition in which it existed at the acquisition date). Otherwise, amounts allocated to IPR&D that have no alternative use are expensed to research and development. Asset acquisitions may include contingent consideration arrangements that encompass obligations to make future payments to sellers contingent upon the achievement of future financial targets. Contingent consideration is not recognized until all contingencies are resolved and the consideration is paid or probable of payment, at which point the consideration is allocated to the assets acquired on a relative fair value basis.</p> | |
CY2024Q1 | us-gaap |
Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
|
The Company recognizes uncertain income tax positions at the largest amount that is more likely than not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. | |
CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3000000 | usd |
CY2024Q1 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
6488507 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.94 | |
CY2024Q1 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
6488507 | usd |
CY2023Q4 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
8287843 | usd |
CY2023Q4 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
8287843 | usd |
CY2024Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
79881 | usd |
CY2023Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
4000 | usd |
CY2024Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
209901 | usd |
CY2023Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
596131 | usd |
CY2024Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
150993 | usd |
CY2023Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
38075 | usd |
CY2024Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
440775 | usd |
CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
638206 | usd |
CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
14920 | usd |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
20998 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
15167 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
21350 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
15167 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
21350 | usd |
CY2024Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
6555 | usd |
CY2023Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
6636 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
|
6696 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
|
6501 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
|
P7M | |
CY2024Q1 | us-gaap |
Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
|
0.12 | pure |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
15623 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
15623 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
456 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
15167 | usd |
CY2024Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
7500000 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2024Q1 | us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
one | |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
7000000 | usd |
CY2023Q1 | cvkd |
Net Proceeds From Issuanceof Common Stock
NetProceedsFromIssuanceofCommonStock
|
5408575 | usd |
CY2023Q1 | cvkd |
Warrantto Purchase Common Stock Shares
WarranttoPurchaseCommonStockShares
|
84000 | shares |
CY2023Q1 | us-gaap |
Shares Acquired Weighted Average Discount To Net Assets Percentage
SharesAcquiredWeightedAverageDiscountToNetAssetsPercentage
|
0.06 | pure |
CY2023Q1 | us-gaap |
Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
|
6 | |
CY2023Q1 | cvkd |
Percentageof Public Offering Priceof Common Stock
PercentageofPublicOfferingPriceofCommonStock
|
1.20 | pure |
CY2023Q3 | cvkd |
Combined Purchase Price Of Warrant
CombinedPurchasePriceOfWarrant
|
1.7499 | |
CY2023Q3 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
7500000 | usd |
CY2024Q1 | cvkd |
Exercise Of Pre Funded Warrants Shares
ExerciseOfPreFundedWarrantsShares
|
2985715 | usd |
CY2024Q1 | us-gaap |
Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
|
0.0999 | pure |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
7660501 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
|
2985715 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
4674786 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
2000000 | shares |
CY2024Q1 | cvkd |
Stock Options Granted Shares Term
stockOptionsGrantedSharesTerm
|
P10Y | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1175000 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.86 | |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P8Y7M20D | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
105000 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
1020000 | shares |
CY2024Q1 | cvkd |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Granted
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingGranted
|
P9Y9M18D | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2195000 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.9 | |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P9Y14D | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
|
713058 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
|
0.8 | |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
|
P8Y5M4D | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
2195000 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
0.9 | |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P9Y14D | |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
0.87 | |
CY2024Q1 | cvkd |
Unrecognized Stock Based Compensation Expense
UnrecognizedStockBasedCompensationExpense
|
1151708 | usd |
CY2024Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
162731 | usd |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
286396 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1663288 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5173574 | usd |
CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
16008469 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10772493 | shares |
CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.1 | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.48 | |
CY2024Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
6869786 | shares |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1376500 | shares |
CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2023Q1 | us-gaap |
Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
|
usd | |
CY2024Q1 | us-gaap |
Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
|
usd | |
CY2024Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
usd | |
CY2024Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | |
CY2024Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
usd | |
CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.10 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.48 | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10772493 | shares |
CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
16008469 | shares |
CY2024Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
usd | |
CY2024Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | |
CY2024Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
usd | |
CY2024Q1 | cvkd |
Issuance Of Shares To Settle Asset Purchase Agreement
IssuanceOfSharesToSettleAssetPurchaseAgreement
|
usd | |
CY2024Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
usd | |
CY2024Q1 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
usd | |
CY2024Q1 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
usd | |
CY2024Q1 | us-gaap |
Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
|
usd | |
CY2024Q1 | cvkd |
Derecognition Of Derivative Liabilitiy
DerecognitionOfDerivativeLiabilitiy
|
usd | |
CY2024Q1 | cvkd |
Issuance Of Investor Warrants
IssuanceOfInvestorWarrants
|
usd | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
shares | |
CY2024Q1 | cvkd |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrants
|
usd | |
CY2024Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
shares | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
||
CY2024Q1 | cvkd |
Weighted Average Remaining Contractual Life Years Exercised
WeightedAverageRemainingContractualLifeYearsExercised
|
||
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
usd | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
shares | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
||
CY2024Q1 | cvkd |
Weighted Average Remaining Contractual Life Years Canceled
WeightedAverageRemainingContractualLifeYearsCanceled
|
||
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
|
usd | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
usd | |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
usd | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
usd | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
|
P2Y | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10772493 | shares |
CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
16008469 | shares |
CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.10 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.48 | |
CY2024Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2024Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2024Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2024Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001937993 |