2024 Q4 Form 10-Q Financial Statement
#000149315224045176 Filed on November 13, 2024
Income Statement
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
Revenue | |||
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $458.8K | ||
YoY Change | 201.02% | ||
% of Gross Profit | |||
Research & Development | $1.401M | $1.140M | |
YoY Change | 22.82% | 70.44% | |
% of Gross Profit | |||
Depreciation & Amortization | $4.830K | ||
YoY Change | 205.7% | ||
% of Gross Profit | |||
Operating Expenses | $3.052M | $1.599M | |
YoY Change | 90.82% | 94.67% | |
Operating Profit | -$3.052M | -$1.599M | |
YoY Change | 90.82% | 94.67% | |
Interest Expense | -$150.2K | ||
YoY Change | -70.3% | ||
% of Operating Profit | |||
Other Income/Expense, Net | -$732.5K | -$193.6K | |
YoY Change | 278.35% | 9.41% | |
Pretax Income | -$1.775M | ||
YoY Change | 77.81% | ||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$3.784M | -$1.793M | |
YoY Change | 111.08% | 79.56% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$1.59 | -$0.11 | |
Diluted Earnings Per Share | -$1.59 | -$0.11 | |
COMMON SHARES | |||
Basic Shares Outstanding | 3.665M shares | 2.227M shares | 15.73M shares |
Diluted Shares Outstanding | 2.384M shares | 1.970M shares |
Balance Sheet
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $6.807M | ||
YoY Change | -25.37% | ||
Cash & Equivalents | $156.7K | $3.886M | |
Short-Term Investments | $2.921M | ||
Other Short-Term Assets | $6.480K | ||
YoY Change | -96.03% | ||
Inventory | |||
Prepaid Expenses | $103.0K | $170.1K | |
Receivables | $12.44K | ||
Other Receivables | $0.00 | ||
Total Short-Term Assets | $361.4K | $6.996M | |
YoY Change | -94.83% | -24.69% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $21.16K | $26.81K | |
YoY Change | -21.07% | 90.41% | |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $312.2K | $380.2K | |
YoY Change | -17.88% | 310.9% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $361.4K | $6.996M | |
Total Long-Term Assets | $312.2K | $380.2K | |
Total Assets | $673.6K | $7.376M | |
YoY Change | -90.87% | -21.38% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $180.0K | ||
YoY Change | 67.99% | ||
Accrued Expenses | $167.6K | ||
YoY Change | -5.75% | ||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | ||
YoY Change | -100.0% | ||
Long-Term Debt Due | $462.8K | ||
YoY Change | |||
Total Short-Term Liabilities | $1.659M | $810.4K | |
YoY Change | 104.73% | -16.49% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $134.4K | ||
YoY Change | |||
Other Long-Term Liabilities | $821.3K | ||
YoY Change | 12212.59% | ||
Total Long-Term Liabilities | $955.6K | ||
YoY Change | 14227.29% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.659M | $810.4K | |
Total Long-Term Liabilities | $955.6K | ||
Total Liabilities | $1.989M | $1.766M | |
YoY Change | 12.62% | 80.74% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$32.98M | -$13.85M | |
YoY Change | 138.17% | 70.03% | |
Common Stock | $29.00 | $160.00 | |
YoY Change | -81.88% | -100.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$1.315M | $5.610M | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $673.6K | $7.376M | |
YoY Change | -90.87% | -21.38% |
Cashflow Statement
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$3.784M | -$1.793M | |
YoY Change | 111.08% | 79.56% | |
Depreciation, Depletion And Amortization | $4.830K | ||
YoY Change | 205.7% | ||
Cash From Operating Activities | -$1.539M | ||
YoY Change | 46.49% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | $19.05K | ||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$7.710K | ||
YoY Change | |||
Cash From Investing Activities | -$26.76K | ||
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 | 4.530K | ||
YoY Change | -99.96% | ||
NET CHANGE | |||
Cash From Operating Activities | -1.539M | ||
Cash From Investing Activities | -26.76K | ||
Cash From Financing Activities | 4.530K | ||
Net Change In Cash | -1.561M | ||
YoY Change | -117.21% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.539M | ||
Capital Expenditures | $19.05K | ||
Free Cash Flow | -$1.558M | ||
YoY Change | 48.3% |
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LossOnSettlementOfConvertibleDebt
|
833501 | usd | |
SHPH |
Loss On Settlement Of Convertible Debt
LossOnSettlementOfConvertibleDebt
|
477221 | usd | |
CY2024Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-732521 | usd |
CY2023Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-193608 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1627286 | usd | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-342665 | usd | |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3784082 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1792754 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-7546328 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4952223 | usd | |
CY2024Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2384177 | shares |
CY2024Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
2384177 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1969904 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
1969904 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2189366 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
2189366 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1820006 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
1820006 | shares | |
CY2024Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.59 | |
CY2024Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.59 | |
CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.91 | |
CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.91 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-3.45 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-3.45 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-2.72 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-2.72 | ||
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4055771 | usd |
CY2024Q1 | SHPH |
Stock Issued During Period Value Conversion Of Accrued Interest And Principal
StockIssuedDuringPeriodValueConversionOfAccruedInterestAndPrincipal
|
325298 | usd |
CY2024Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
111449 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1731031 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2761487 | usd |
CY2024Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
71162 | usd |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2031215 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
801434 | usd |
CY2024Q3 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
1621996 | usd |
CY2024Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
45275 | usd |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3784082 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1315377 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7677869 | usd |
CY2023Q1 | SHPH |
Warrants Issuance Fees
WarrantsIssuanceFees
|
8727 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
90816 | usd |
CY2023Q1 | SHPH |
Stock Issued During Period Value Conversion Of Accrued Interest And Principal
StockIssuedDuringPeriodValueConversionOfAccruedInterestAndPrincipal
|
104547 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
8333 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-975097 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6906468 | usd |
CY2023Q2 | SHPH |
Stock Issued During Period Value Conversion Of Accrued Interest And Principal
StockIssuedDuringPeriodValueConversionOfAccruedInterestAndPrincipal
|
2163992 | usd |
CY2023Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
49522 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2184372 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6935610 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6935610 | usd |
CY2023Q3 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
429310 | usd |
CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
37583 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1792754 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5609749 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5609749 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-7546328 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4952223 | usd | |
us-gaap |
Depreciation
Depreciation
|
3667 | usd | |
us-gaap |
Depreciation
Depreciation
|
4828 | usd | |
us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
340405 | usd | |
us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
2118175 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
1079444 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
1654724 | usd | |
us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
100118 | usd | |
us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
1744 | usd | |
us-gaap |
Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
|
-71568 | usd | |
us-gaap |
Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
|
21134 | usd | |
SHPH |
Accrued Interest Settled With Common Stock
AccruedInterestSettledWithCommonStock
|
54670 | usd | |
SHPH |
Accrued Interest Settled With Common Stock
AccruedInterestSettledWithCommonStock
|
294927 | usd | |
SHPH |
Loss On Settlement Of Convertible Debt
LossOnSettlementOfConvertibleDebt
|
833501 | usd | |
SHPH |
Loss On Settlement Of Convertible Debt
LossOnSettlementOfConvertibleDebt
|
477221 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
227886 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
95438 | usd | |
us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
-14897 | usd | |
us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
12435 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-11433 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
8956 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
1065584 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
63255 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
-446 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
-12500 | usd | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
-15056 | usd | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
106578 | usd | |
SHPH |
Increase Decrease In Accrued Interest Payable Related Parties
IncreaseDecreaseInAccruedInterestPayableRelatedParties
|
2137 | usd | |
SHPH |
Increase Decrease In Accrued Interest Payable Related Parties
IncreaseDecreaseInAccruedInterestPayableRelatedParties
|
-98135 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
498 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
9358 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4637068 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4518973 | usd | |
us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
43587 | usd | |
us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
2977714 | usd | |
us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
2959352 | usd | |
us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
80000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
19046 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
2915765 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2916760 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
250000 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
685473 | usd | |
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
3935000 | usd | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
345000 | usd | |
us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
101651 | usd | |
us-gaap |
Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
|
846806 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-698457 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2904527 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-2419760 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-4531206 | usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2576416 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
8417203 | usd |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
156656 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
3885997 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
79682 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
102373 | usd | |
SHPH |
Common Stock Issued For Settlement Of Debt
CommonStockIssuedForSettlementOfDebt
|
1947294 | usd | |
SHPH |
Common Stock Issued For Settlement Of Debt
CommonStockIssuedForSettlementOfDebt
|
2697849 | usd | |
SHPH |
Warrants Issuance Fees
WarrantsIssuanceFees
|
0 | usd | |
SHPH |
Warrants Issuance Fees
WarrantsIssuanceFees
|
8727 | usd | |
SHPH |
Warrants Issued For Financing Fees
WarrantsIssuedForFinancingFees
|
90816 | usd | |
SHPH |
Initial Recognition Of Right Of Use Asset And Liability
InitialRecognitionOfRightOfUseAssetAndLiability
|
365556 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-7500000 | usd | |
SHPH |
Working Capital
WorkingCapital
|
1300000 | usd | |
CY2024Q3 | us-gaap |
Share Price
SharePrice
|
1.00 | |
CY2024Q3 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1-for-8 | |
CY2024Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.00001 | |
CY2024Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.00001 | |
us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p id="xdx_846_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z4BTsd2pIMKe" 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"><b><i><span id="xdx_86B_zE8yFyQyyGxf">Correction of an Immaterial Error in the Prior Period Financial Statements</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-family: Times New Roman, Times, Serif; font-size: 10pt">During the fourth quarter of 2023, the Company determined that the prior year consolidated financial statements had a misstatement caused by an immaterial classification error of certain research and development expenses in accordance with Accounting Standards Codification (“ASC”) 730. As a result, certain prior year amounts have been corrected for consistency with the current year presentation. The Company assessed the materiality of this change in presentation on prior period consolidated financial statements in accordance with SEC Staff Accounting Bulletin No. 99, “Materiality,” (ASC Topic 250, Accounting Changes and Error Corrections). Based on this assessment, the Company concluded that these error corrections in its unaudited condensed consolidated statements of operations are not material to any previously presented financial statements based upon overall considerations of both quantitative and qualitative factors. The corrections had no impact on the unaudited condensed consolidated balance sheet, unaudited condensed consolidated statements of cash flows, or unaudited condensed consolidated statement of changes in stockholders’ equity, to these financial statements, or for any previously presented interim or annual financial statements. Further, the corrections did not result in a change in quarterly or year-to-date operating losses, basic or diluted earnings per share, or working capital. The quarterly correction required for the three and nine months ended September 30, 2023 was $<span id="xdx_901_eus-gaap--GeneralAndAdministrativeExpense_c20240701__20240930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z6lhCptcdRek" title="General and administrative expense">95,129</span> and $<span id="xdx_90D_eus-gaap--GeneralAndAdministrativeExpense_c20240101__20240930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z8fii4jN2L3c" title="General and administrative expense">277,844</span>, respectively. Accordingly, the Company corrected the previously reported immaterial error for the three and nine months ended September 30, 2023 in this Quarterly Report on Form 10-Q.</span></p> <p id="xdx_896_eus-gaap--ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock_z9tVva8hTmMj" 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><span id="xdx_8B6_z4EiZ6rbAhkg" style="display: none">Schedule of the Error Correction</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 style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20230101__20230930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zxwrWghFyWDe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20230101__20230930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zZXABwLusoW8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Correction</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_493_20230101__20230930_zQLqKoHf4zf4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Corrected <br/> September 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--ResearchAndDevelopmentExpense_zPh05ROzFrUk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Research and development expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,084,488</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(277,844</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,806,644</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--GeneralAndAdministrativeExpense_za7WGaeI3Jea" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative expense</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">452,342</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">277,844</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">730,186</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ProfitLoss_zrkZIMvQIq46" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net Loss</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,536,830</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0704">-</span></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,536,830</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A7_zZXFZiliGROk" 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> | ||
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2806644 | usd | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
730186 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
3536830 | usd | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84B_eus-gaap--UseOfEstimates_z4QhNJmGARt" 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"><b><i><span id="xdx_86B_zG7h4Bv69FJ">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-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of unaudited condensed consolidated 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 at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Significant estimates are contained in the accompanying unaudited condensed consolidated financial statements for the recognition of research and development expenses, valuation of warrants and valuation of bifurcated derivative liabilities and other financial instruments.</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"> </span></p> | ||
CY2024Q3 | us-gaap |
Cash
Cash
|
155652 | usd |
CY2023Q4 | us-gaap |
Cash
Cash
|
1550098 | usd |
CY2024Q3 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
1004 | usd |
CY2023Q4 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
1026318 | usd |
CY2024Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
156656 | usd |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2576416 | usd |
CY2024Q3 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2024Q3 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
0 | usd |
CY2023Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
2900000 | usd |
CY2024Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
2524 | usd |
CY2023Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
20765 | usd |
CY2024Q3 | us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
56398 | usd |
CY2024Q3 | us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
-42898 | usd |
CY2023Q3 | us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
9606 | usd |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
38135 | usd | |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
56720 | usd | |
us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
100118 | usd | |
us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
1744 | usd | |
us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
-71568 | usd | |
us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
21134 | usd | |
CY2024Q3 | us-gaap |
Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
|
74107 | usd |
CY2023Q4 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
2887215 | usd |
CY2023Q4 | us-gaap |
Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
|
414512 | usd |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
225338 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
342735 | shares | |
us-gaap |
Operating Lease Payments Use
OperatingLeasePaymentsUse
|
6480 | usd | |
us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2023-10-31 | ||
CY2024Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
22947 | usd |
CY2023Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
40491 | usd |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
68841 | usd | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
83230 | usd | |
CY2024Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
10440 | usd |
CY2023Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
10408 | usd |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
30817 | usd | |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
13723 | usd | |
CY2024Q3 | us-gaap |
Sublease Income
SubleaseIncome
|
2163 | usd |
CY2023Q3 | us-gaap |
Sublease Income
SubleaseIncome
|
2135 | usd |
us-gaap |
Sublease Income
SubleaseIncome
|
6489 | usd | |
us-gaap |
Sublease Income
SubleaseIncome
|
6377 | usd | |
CY2024Q3 | us-gaap |
Lease Cost
LeaseCost
|
31224 | usd |
CY2023Q3 | us-gaap |
Lease Cost
LeaseCost
|
48764 | usd |
us-gaap |
Lease Cost
LeaseCost
|
93169 | usd | |
us-gaap |
Lease Cost
LeaseCost
|
90576 | usd | |
CY2024Q3 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
23156 | usd |
CY2023Q3 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
31113 | usd |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
68345 | usd | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
73884 | usd | |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
365556 | usd | |
CY2024Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y11M1D | |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P4Y8M1D | |
CY2024Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.1048 | pure |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.1048 | pure |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
23156 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
94247 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
97074 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
99986 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
68235 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
382698 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
68441 | usd |
CY2024Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
314257 | usd |
us-gaap |
Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
|
In December of 2021, the maturity dates of these loans were further extended to June 30, 2022. In July of 2022, the notes were extended to June 30, 2023. | ||
CY2024Q3 | us-gaap |
Convertible Notes Payable
ConvertibleNotesPayable
|
10000000.0 | usd |
CY2024Q3 | us-gaap |
Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
|
345139 | usd |
CY2024Q3 | us-gaap |
Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
|
22724 | usd |
CY2024Q3 | us-gaap |
Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
|
367863 | usd |
us-gaap |
Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
|
846806 | usd | |
us-gaap |
Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
|
79682 | usd | |
us-gaap |
Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
|
926488 | usd | |
CY2024Q3 | us-gaap |
Debt Securities Gain Loss
DebtSecuritiesGainLoss
|
762186 | usd |
us-gaap |
Debt Securities Gain Loss
DebtSecuritiesGainLoss
|
833501 | usd | |
CY2023Q3 | us-gaap |
Interest Expense
InterestExpense
|
623465 | usd |
us-gaap |
Interest Expense
InterestExpense
|
1952147 | usd | |
CY2023Q3 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
538302 | usd |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
1550479 | usd | |
CY2023Q3 | us-gaap |
Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
|
331800 | usd |
us-gaap |
Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
|
1925700 | usd | |
CY2023Q3 | us-gaap |
Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
|
54096 | usd |
us-gaap |
Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
|
294927 | usd | |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.93 | |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
127260 | shares |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.93 | |
CY2024Q3 | SHPH |
Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingIntrinsicValue
|
0 | usd |
CY2024Q1 | us-gaap |
Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
|
2250000 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
|
(i) one share of the Company’s common stock, (ii) a warrant to purchase one share of the Company’s common stock exercisable at a purchase price of $18.80 per share, and (iii) a percentage of equity interest in Diagnostics such that, assuming the sale of all $2,250,000 of Units, SRO LLC will own a 22% interest in Diagnostics. | |
CY2024Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
4500000 | usd |
CY2024Q1 | us-gaap |
Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
|
2250000 | usd |
CY2024Q2 | us-gaap |
Direct Operating Costs
DirectOperatingCosts
|
142000 | usd |
CY2024Q3 | us-gaap |
Deferred Costs Current
DeferredCostsCurrent
|
101651 | usd |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
127260 | shares |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.93 | |
CY2023Q1 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
1189000 | usd |
CY2024Q3 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
74107 | usd |
CY2023Q1 | us-gaap |
Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
|
2631000 | usd |
CY2024Q3 | us-gaap |
Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
|
74107 | usd |
us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
0 | usd | |
us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
1058348 | usd |