$VCNX
VACCINEX, INC.

2024 Q2 Form 10-Q Financial Statement

#000095017024060603 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $232.0K $104.0K
YoY Change -81.09%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.090M $1.795M
YoY Change 3.11% 4.12%
% of Gross Profit
Research & Development $3.864M $3.383M
YoY Change -23.49% -11.25%
% of Gross Profit
Depreciation & Amortization $25.00K $27.00K
YoY Change -16.67% -12.9%
% of Gross Profit
Operating Expenses $3.864M $3.383M
YoY Change -23.49% -11.25%
Operating Profit -$5.722M -$5.074M
YoY Change -19.15% 1.76%
Interest Expense $0.00 -$28.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net $16.00K -$1.000K
YoY Change -5.88% -104.17%
Pretax Income -$5.631M -$3.897M
YoY Change -20.24% -21.46%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.631M -$3.897M
YoY Change -20.24% -21.46%
Net Earnings / Revenue -2427.16% -3747.12%
Basic Earnings Per Share -$3.10 -$2.94
Diluted Earnings Per Share -$3.10 -$2.94
COMMON SHARES
Basic Shares Outstanding 1.584M 1.232M
Diluted Shares Outstanding 1.818M 1.327M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $247.0K $3.067M
YoY Change -87.05% -7.7%
Cash & Equivalents $233.0K $2.972M
Short-Term Investments $14.00K $95.00K
Other Short-Term Assets $910.0K $1.312M
YoY Change 19.74% 19.82%
Inventory
Prepaid Expenses
Receivables $1.045M $2.775M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.202M $7.154M
YoY Change -17.81% 61.93%
LONG-TERM ASSETS
Property, Plant & Equipment $106.0K $110.0K
YoY Change -40.11% -46.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $165.0K $213.0K
YoY Change -59.36% -55.35%
TOTAL ASSETS
Total Short-Term Assets $2.202M $7.154M
Total Long-Term Assets $165.0K $213.0K
Total Assets $2.367M $7.367M
YoY Change -23.27% 50.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.243M $2.329M
YoY Change 101.68% 113.08%
Accrued Expenses $1.751M $1.880M
YoY Change 14.22% 92.82%
Deferred Revenue $12.00K $59.00K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $63.00K $76.00K
YoY Change -16.0% 1.33%
Total Short-Term Liabilities $5.231M $4.706M
YoY Change 54.63% 103.72%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $6.000K
YoY Change -100.0% -92.68%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $6.000K
YoY Change -100.0% -92.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.231M $4.706M
Total Long-Term Liabilities $0.00 $6.000K
Total Liabilities $5.231M $4.712M
YoY Change 49.12% 88.86%
SHAREHOLDERS EQUITY
Retained Earnings -$349.5M -$343.8M
YoY Change 5.37% 5.91%
Common Stock $345.2M $345.3M
YoY Change 4.21% 5.57%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.00K $11.00K
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity -$2.864M $2.655M
YoY Change
Total Liabilities & Shareholders Equity $2.367M $7.367M
YoY Change -23.27% 50.5%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$5.631M -$3.897M
YoY Change -20.24% -21.46%
Depreciation, Depletion And Amortization $25.00K $27.00K
YoY Change -16.67% -12.9%
Cash From Operating Activities -$4.415M -$4.600M
YoY Change -19.83% -8.0%
INVESTING ACTIVITIES
Capital Expenditures $14.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$14.00K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $19.00K
YoY Change 0.0%
Cash From Financing Activities 1.690M 6.069M
YoY Change -58.7% 200.3%
NET CHANGE
Cash From Operating Activities -4.415M -4.600M
Cash From Investing Activities -14.00K 0.000
Cash From Financing Activities 1.690M 6.069M
Net Change In Cash -2.739M 1.437M
YoY Change 93.57% -146.84%
FREE CASH FLOW
Cash From Operating Activities -$4.415M -$4.600M
Capital Expenditures $14.00K $0.00
Free Cash Flow -$4.429M -$4.600M
YoY Change -19.58% -8.89%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001205922
CY2024Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2024Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
105337
CY2024Q1 dei Document Type
DocumentType
10-Q
CY2024Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2024Q1 dei Document Period End Date
DocumentPeriodEndDate
2024-03-31
CY2024Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2024Q1 dei Entity File Number
EntityFileNumber
001-38624
CY2024Q1 dei Entity Registrant Name
EntityRegistrantName
Vaccinex, Inc.
CY2024Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2024Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
16-1603202
CY2024Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
1895 Mount Hope Avenue
CY2024Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Rochester
CY2024Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
CY2024Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
14620
CY2024Q1 dei City Area Code
CityAreaCode
585
CY2024Q1 dei Local Phone Number
LocalPhoneNumber
271-2700
CY2024Q1 dei Security12b Title
Security12bTitle
Common Stock, $0.0001 par value
CY2024Q1 dei Trading Symbol
TradingSymbol
VCNX
CY2024Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2024Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2024Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2024Q1 dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
1584300
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2972000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1535000
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2775000
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
961000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1312000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
853000
CY2024Q1 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
95000
CY2024Q1 us-gaap Assets Current
AssetsCurrent
7154000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
3349000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
110000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
136000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
103000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
146000
CY2024Q1 us-gaap Assets
Assets
7367000
CY2023Q4 us-gaap Assets
Assets
3631000
CY2024Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
2329000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2039000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1880000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1242000
CY2024Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
59000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
63000
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
76000
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
75000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
103000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
146000
CY2024Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
259000
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
2351000
CY2024Q1 us-gaap Liabilities Current
LiabilitiesCurrent
4706000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
5916000
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
26000
CY2024Q1 us-gaap Liabilities
Liabilities
4712000
CY2023Q4 us-gaap Liabilities
Liabilities
5942000
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
10
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
10
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
0
CY2024Q1 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
1750000000
CY2023Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
0
CY2024Q1 us-gaap Preferred Stock Value
PreferredStockValue
1236000
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1584305
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
892622
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1584300
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
892617
CY2024Q1 us-gaap Common Stock Value
CommonStockValue
1000
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
0
CY2024Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
345253000
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
337627000
CY2024Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
5
CY2023Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
5
CY2024Q1 us-gaap Treasury Stock Value
TreasuryStockValue
11000
CY2023Q4 us-gaap Treasury Stock Value
TreasuryStockValue
11000
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2655000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-3897000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-4962000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-343824000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-339927000
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2655000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2311000
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7367000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3631000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
104000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
550000
CY2024Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3383000
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3812000
CY2024Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1795000
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1724000
CY2024Q1 us-gaap Costs And Expenses
CostsAndExpenses
5178000
CY2023Q1 us-gaap Costs And Expenses
CostsAndExpenses
5536000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-5074000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4986000
CY2024Q1 vcnx Financing Costs Warrant Liabilities
FinancingCostsWarrantLiabilities
-28000
CY2024Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1206000
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
24000
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3897000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4962000
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-3897000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-4962000
CY2024Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3897000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4962000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.94
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.94
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-20.89
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-20.89
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1327257
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1327257
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
237527
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
237527
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5193000
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2040000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
129000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-4962000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2400000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2311000
CY2024Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
96000
CY2024Q1 vcnx Adjustments To Additional Paid In Capital Reclassification Of Public Warrants As Amended
AdjustmentsToAdditionalPaidInCapitalReclassificationOfPublicWarrantsAsAmended
1199000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-3897000
CY2024Q1 us-gaap Depreciation
Depreciation
27000
CY2023Q1 us-gaap Depreciation
Depreciation
31000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
96000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
129000
CY2024Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1206000
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
64000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-175000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
459000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
183000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
290000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-425000
CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
585000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
195000
CY2024Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-4000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4632000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5040000
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
49000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-49000
CY2024Q1 vcnx Proceeds From Issuance Of Common Stock And Pre Funded Warrants In Private Placement Offerings
ProceedsFromIssuanceOfCommonStockAndPreFundedWarrantsInPrivatePlacementOfferings
2529000
CY2024Q1 vcnx Proceeds From Issuance Of Warrants In Private Placement Offerings
ProceedsFromIssuanceOfWarrantsInPrivatePlacementOfferings
1113000
CY2023Q1 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
2040000
CY2024Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
19000
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
19000
CY2024Q1 vcnx Proceeds From Issuance Of Common Stock And Private Placement Warrants
ProceedsFromIssuanceOfCommonStockAndPrivatePlacementWarrants
2446000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6069000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2021000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1437000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3068000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1535000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6391000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2972000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3323000
CY2024Q1 vcnx Non Cash Proceeds From Issuance Of Preferred Stock In Accounts Receivable
NonCashProceedsFromIssuanceOfPreferredStockInAccountsReceivable
1141000
CY2024Q1 vcnx Non Cash Issuance Of Private Placement Warrants Included In Accounts Receivable
NonCashIssuanceOfPrivatePlacementWarrantsIncludedInAccountsReceivable
556000
CY2024Q1 vcnx Non Cash Issuance Costs Of Preferred Stock And Private Placement Warrants Included In Accrued Expenses
NonCashIssuanceCostsOfPreferredStockAndPrivatePlacementWarrantsIncludedInAccruedExpenses
-53000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4600000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-343800000
CY2024Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
Company effected a 1-for-15 reverse stock split of its issued shares of common stock. On February 19, 2024, the Company effected a second reverse split of shares of the Company's common stock on a 1-for-14 basis. All per share amounts, common shares outstanding, warrants, and stock-based compensation amounts for all periods presented have been retroactively adjusted to reflect these reverse stock splits.
CY2023Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.15
CY2024Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.14
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">These condensed financial statements have been prepared in conformity with U.S. GAAP. The preparation of 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 the disclosure of contingent assets and liabilities as of the date of the condensed financial statements and the reported amount of expenses during the reporting period. Such management estimates include those relating to assumptions used in the valuation of stock option awards, valuation of the warrant liabilities, valuation of the derivative asset, and valuation allowances against deferred income tax assets. Actual results could differ from those estimates.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q4 vcnx Accrued Clinical Trial Cost Current
AccruedClinicalTrialCostCurrent
853000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
301000
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk, Other Risks and Uncertainties</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is subject to a number of risks, including, but not limited to, the lack of available capital; the possible delisting of our common stock from Nasdaq; possible failure of preclinical testing or clinical trials; inability to obtain regulatory approval of product candidates; competitors developing new technological innovations; potential interruptions in the manufacturing and commercial supply operations; unsuccessful commercialization strategy and launch plans for its proprietary drug candidates; risks inherent in litigation, including purported class actions; market acceptance of the Company’s products; and protection of proprietary technology.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. Cash equivalents are deposited in interest-bearing money market accounts. Although the Company deposits its cash with multiple financial institutions, cash balances may occasionally be in excess of the amounts insured by the Federal Deposit Insurance Corporation. Management believes the financial risk associated with these balances is minimal and has not experienced any losses to date.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has historically raised capital in transactions with investors that include members of its board of directors and entities controlled by certain board members. As such, the Company's directors, directly and indirectly, control a significant ownership percentage of the Company. The Company can provide no assurances that future financing will be available in sufficient amounts or on terms acceptable to it or that its directors or entities controlled by certain board members will be willing or able to participate in future capital raises by the Company.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company depends on third-party manufacturers for the manufacture of drug substances and drug product for clinical trials. The Company also relies on certain third parties for its supply chain. Disputes with these third- party manufacturers or shortages in goods or services from third-party suppliers could delay the manufacturing of the Company’s product candidates and adversely impact its results of operations.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7228000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7228000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7118000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7091000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
110000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
136000
CY2024Q1 us-gaap Depreciation
Depreciation
27000
CY2023Q1 us-gaap Depreciation
Depreciation
31000
CY2024Q1 vcnx Accrued Clinical Trial Cost Current
AccruedClinicalTrialCostCurrent
1128000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
295000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
411000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
58000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
40000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
36000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1880000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1242000
CY2023Q4 vcnx Warrant Liabilities
WarrantLiabilities
2351000
CY2024Q1 vcnx Warrants Issued
WarrantsIssued
1113000
CY2024Q1 vcnx Warrant Reclassified As Equity
WarrantReclassifiedAsEquity
-1999000
CY2024Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1206000
CY2024Q1 vcnx Warrant Liabilities
WarrantLiabilities
259000
CY2023Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
0
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
0
CY2024Q1 vcnx Convertible Preferred Stock Issued
ConvertiblePreferredStockIssued
95
CY2024Q1 us-gaap Derivative Assets
DerivativeAssets
95
CY2017Q4 vcnx Number Of Target Antigens Against Which Antibodies Are To Be Identified And Selected
NumberOfTargetAntigensAgainstWhichAntibodiesAreToBeIdentifiedAndSelected
2
CY2024Q1 us-gaap Lessee Operating Lease Assumptions And Judgments Discount Rate Description
LesseeOperatingLeaseAssumptionsAndJudgmentsDiscountRateDescription
The leases do not provide an implicit rate so in determining the present value of lease payments, the Company uses its incremental borrowing rate for the applicable lease, which was 7.0%.
CY2024Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.07
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2415
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
102922
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
45144
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
45144
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
45144
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
45144
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
626.18
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
12
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
3129
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
19111
CY2024Q1 vcnx Warrants Textblock
WarrantsTextblock
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 10. WARRANTS</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Public Warrants</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">October 3, 2023</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company sold in a public offering (i) </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">542,857</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of the Company’s common stock together with public warrants to purchase up to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">542,857</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock and (ii) in lieu of shares of common stock, pre-funded warrants exercisable for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">142,857</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock together with public warrants to purchase up to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">142,857</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock (the “Offering”). Each public warrant has an initial exercise price equal to $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">14.00</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share. The public warrants are immediately exercisable and expire </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">five years</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> from the date of issuance. The shares of common stock and accompanying public warrants were sold at a combined public offering price of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">14.00</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share and the accompanying public warrants, and the pre-funded warrants and accompanying public warrants were sold at a combined public offering price of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">13.99</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per pre-funded warrant and accompanying public warrants for aggregate gross proceeds of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">9.6</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million, </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">before deductions for placement agent and offering</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">fees </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">payable by the Company. The public warrants may not be exercised if the aggregate number of common stock beneficially owned by the holder thereof immediately following such exercise would exceed a specified beneficial ownership limitation; provided, however, that a holder may increase or decrease the beneficial ownership limitation by giving </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">61</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> days’ notice to the Company, but not to any percentage in excess of </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">9.99</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has the right to “call” any portion of a holder’s public warrants by delivering a call notice to the holder within </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">30</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> days after Company publicly announces an increase in pepinemab-treated patients relative to placebo-treated patients, with statistical significance having a p-value of less than or equal to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.05</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, in the change of the FDG-PET standard uptake value ratio for brain metabolism between baseline and month 12 as assessed by [18F]fluorodeoxyglucose (FDG)-PET in the resting state following administration of 40 mg/kg pepinemab or placebo, as applicable, as described in the protocol for the Company’s SIGNAL-AD Alzheimer’s disease study and the associated Statistical Analysis Plan (the “Positive Data Release”). After delivery of a call notice, the public warrants will continue to be exercisable. Each public warrant will be canceled and no longer exercisable to the extent the holder fails to timely exercise the public warrant for the called portion thereof within </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">20</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> trading days following the Company’s issuance of a call notice.</span></span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In the event of a fundamental transaction, the public warrants required the Company to make a payment based on a Black-Scholes pricing model valuation, using specific inputs that precluded the instruments from being considered indexed to the Company’s own stock in accordance with ASC 815. The public warrants also contained certain terms that provided for an adjustment in response to the occurrence or nonoccurrence of a specified event that is inconsistent with an implicit assumption in a standard valuation model, which also precluded the instruments from being considered indexed to the Company’s stock in accordance with ASC 815. Therefore, upon issuance, the Company accounted for the public warrants as liabilities, which were recorded at the issuance date fair value of approximately $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">3.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In March 2024, the Company entered into warrant amendment agreements with holders of approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">83</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the public warrants issued in the Offering to amend aforementioned terms in the public warrants. The public warrants, as amended, were no longer precluded from being considered indexed to the Company's stock in accordance with ASC 815. As a result, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">572,139</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of the public warrants, as amended, issued in the Offering were reclassified as equity, based on the guidance provided under ASC 815-40. The public warrants, as amended, were marked to fair value on the amendment date resulting in a gain on change in fair value of warrant liabilities of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.7</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million in the Company's condensed statements of operations and comprehensive loss for the three months ended March 31, 2024. In addition, $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1.2</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million of public warrant liabilities were reclassified as equity in the Company's condensed statements of stockholders' equity (deficit) for the three months ended March 31, 2024.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of March 31, 2024, all of the public warrants were outstanding.</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Private Placement Warrants</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In November 2023, pursuant to securities purchase agreements entered into with certain investors, the Company issued and sold private placement warrants to purchase </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">37,694</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock. Each private placement warrant has a purchase price equal to $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1.75</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share, subject to proportional adjustments in the event of stock splits, combinations (including reverse stock splits), or similar events. The private placement warrants are immediately exercisable and expire </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">five years</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> from the date of issuance and the Company has the right to “call” any portion of the private placement warrants under the same conditions and terms as the public warrants. The private placement warrants are subject to the same beneficial ownership limitations as the public warrants and the pre-funded warrants. Upon issuance, the private placement warrants were precluded from being considered indexed to the Company’s own stock in accordance with ASC 815. Therefore, at issuance, the private placement warrants were liability-classified and recorded at their respective issuance date fair values.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">February 6, 2024</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company entered into a securities purchase agreement pursuant to which we issued and sold </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">274,182</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of our common stock together with private placement warrants to purchase up to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">274,182</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock and (ii) pre-funded warrants to purchase up to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">90,363</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock together with private placement warrants to purchase up to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">90,363</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of our common stock (the “February 2024 SPA”). Each private placement warrant is immediately exercisable and has an initial exercise price of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">14.00</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share. The shares of common stock and accompanying private placement warrants were sold at a combined price of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">10.15</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">share </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">and the accompanying private placement warrants, and the pre-funded warrants and accompanying private placement warrants were sold at a combined price of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">10.1486</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per pre-funded warrant and accompanying private placement warrant, for aggregate gross proceeds of approximately $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">3.7</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has the right to “call” the exercise of any portion of a holder’s private placement warrants by delivering a call notice to the holder within </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">30</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> days, in the case of the November private placement warrants, or </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">120</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> days in the case of the February private placement warrants, after the Positive Data Release. After delivery of a call notice, the private placement warrants will continue to be exercisable. Each private placement warrant will be canceled and no longer exercisable to the extent the holder fails to timely exercise the private placement warrant for the called portion thereof within </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">20</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> trading days, in the case of the November private placement warrants, or </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">30</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> trading days in the case of the February private placement warrants, following the Company’s issuance of a call notice, provided that to the extent the exercise of a called portion of a private placement warrant would cause the holder to hold common stock in excess of a specified beneficial ownership limitation, upon exercise of such portion, as set forth in the private placement warrant, instead of shares being issued, the exercise would result in the modification of the terms of such portion to be consistent with the terms of the pre-funded warrant.</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Upon issuance, the private placement warrants were precluded from being considered indexed to the Company’s own stock in accordance with ASC 815. Therefore, at issuance, the private placement warrants were liability-classified and recorded at their issuance date fair value.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In March 2024, the Company entered into warrant amendment agreements with holders of </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">100</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the private placement warrants issued in November 2023 and holders of </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">97</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the private placement warrants issued in the February 2024 SPA to amend the aforementioned terms in the private placement warrants. As a result, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">354,693</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of the November 2023 and February 2024 SPA private placement warrants, as amended, were no longer precluded from being considered indexed to the Company's stock in accordance with ASC 815. The Company reclassified $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.8</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million of the amended private placement warrants, as equity, in the Company's condensed statements of stockholders' equity/deficit for the three months ended March 31, 2024 based on the guidance provided under ASC 815-40. The private placement warrants, as amended, were marked to fair value on the amendment date resulting in a gain on change in fair value of warrant liabilities of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.36</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million in the Company's condensed statements of operations and comprehensive loss for the three months ended March 31, 2024.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On March 27, 2024, the Company entered into a securities purchase agreement pursuant to which the Company issued and sold </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">193,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of the Company's common stock in a public offering together with private placement warrants to purchase up to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">193,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock in a concurrent private placement at a combined price of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">7.77</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share and accompanying private placement warrant for an aggregate purchase price of approximately $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million. Separately on March 27, 2024, the Company entered into a securities purchase agreement in a different form pursuant to which the Company sold </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">159,683</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock and private placement warrants to purchase up to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">159,683</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock in a private placement at a combined price of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">7.77</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share and accompanying private placement warrant for an aggregate purchase price of approximately $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1.25</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company evaluated the March 2024 private placement warrants and concluded that they met the criteria to be classified within stockholders’ equity within additional paid-in-capital. These private placement warrants are equity classified because they (1) are freestanding financial instruments that are legally detachable and separately exercisable from the common stock, (2) are immediately exercisable, (3) do not embody an obligation for the Company to repurchase its shares, (4) permit the holder to receive a fixed number of shares of common stock upon exercise, (5) are indexed to the Company's common stock and (6) meet the equity classification criteria.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Accordingly, the Company allocated approximately $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.84</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million of the proceeds remaining (after the allocation of proceeds to the common stock in the amount equal to their issuance date fair value) to the March private placement warrants on a relative fair value basis for recognition in additional paid-in capital on the date of issuance.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In connection with the securities purchase agreement with the Alzheimer’s Drug Discovery Foundation, the Company sold ADDF Warrants to purchase up to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">229,057</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock. Each ADDF Warrant has an initial exercise price equal to $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">7.64</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">share, subject to proportional adjustments in the event of stock splits,</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">combinations </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">(including reverse stock splits), or similar events. These ADDF Warrants are immediately exercisable and will expire on </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">March 29, 2029</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company evaluated the ADDF Warrants and concluded they met the criteria to be classified within stockholders’ equity within additional paid-in-capital. The ADDF Warrants are equity classified because they (1) are freestanding financial instruments that are legally detachable and separately exercisable from the common stock, (2) are immediately exercisable, (3) do not embody an obligation for the Company to repurchase its shares, (4) permit the holder to receive a fixed number of shares of common stock upon exercise, (5) are indexed to the Company's common stock and (6) meet the equity classification criteria.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Accordingly, based upon the relative fair values of the instruments on the date of issuance, the Company allocated approximately $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.57</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million of the gross proceeds to the ADDF Warrants and $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1.18</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million of the gross proceeds to the Series A Preferred Stock which is net of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">95</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> thousand, attributed to the derivative asset.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of March 31, 2024, all of the private placement warrants were outstanding.</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Pre-Funded Warrants</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In connection with the February 2024 SPA, the Company sold pre-funded warrants exercisable for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">90,363</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock. Each pre-funded warrant has an initial exercise price equal to $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.0014</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share, subject to proportional adjustments in the event of stock splits, combinations (including reverse stock splits), or similar events. The pre-funded warrants may be exercised at any time and will not expire until exercised in full. The pre-funded warrants are subject to the same beneficial owner limitations as the private placement warrants.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company evaluated the pre-funded warrants and concluded that they met the criteria to be classified within stockholders’ equity within additional paid-in-capital. The pre-funded warrants are equity classified because they (1) are freestanding financial instruments that are legally detachable and separately exercisable from the common stock, (2) are immediately exercisable, (3) do not embody an obligation for the Company to repurchase its shares, (4) permit the holder to receive a fixed number of shares of common stock upon exercise, (5) are indexed to the Company's common stock and (6) meet the equity classification criteria.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Accordingly, the Company allocated approximately $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.9</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million of the proceeds remaining (after the allocation of proceeds to the liability-classified private placement warrants in the amount equal to their issuance date fair value) to the pre-funded warrants on a relative fair value basis for recognition in additional paid-in capital on the date of issuance.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of March 31, 2024, all of the pre-funded warrants were outstanding.</span></p>
CY2024Q1 vcnx Description Of Public Warrants Right To Call
DescriptionOfPublicWarrantsRightToCall
The Company has the right to “call” any portion of a holder’s public warrants by delivering a call notice to the holder within 30 days after Company publicly announces an increase in pepinemab-treated patients relative to placebo-treated patients, with statistical significance having a p-value of less than or equal to 0.05, in the change of the FDG-PET standard uptake value ratio for brain metabolism between baseline and month 12 as assessed by [18F]fluorodeoxyglucose (FDG)-PET in the resting state following administration of 40 mg/kg pepinemab or placebo, as applicable, as described in the protocol for the Company’s SIGNAL-AD Alzheimer’s disease study and the associated Statistical Analysis Plan (the “Positive Data Release”). After delivery of a call notice, the public warrants will continue to be exercisable. Each public warrant will be canceled and no longer exercisable to the extent the holder fails to timely exercise the public warrant for the called portion thereof within 20 trading days following the Company’s issuance of a call notice.
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2165820
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
881116
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14323
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
446.93
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y8M12D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
5365
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
8.21
CY2024Q1 vcnx Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm1
P10Y
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
565
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
316.90
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M12D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
7055
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
712.15
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y3M18D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.7
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
60.9
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
70586
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
121585
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
337032
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
448511
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
96000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
129000
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2024Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2024Q1 vcnx Number Of Business Activity
NumberOfBusinessActivity
1
CY2024Q1 vcnx Number Of Segment Managers For Operations Or Operating Results
NumberOfSegmentManagersForOperationsOrOperatingResults
0
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
45144
CY2023Q1 us-gaap Sale Of Stock Transaction Date
SaleOfStockTransactionDate
2024-03-27

Files In Submission

Name View Source Status
0000950170-24-060603-index-headers.html Edgar Link pending
0000950170-24-060603-index.html Edgar Link pending
0000950170-24-060603.txt Edgar Link pending
0000950170-24-060603-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vcnx-20240331.htm Edgar Link pending
vcnx-20240331.xsd Edgar Link pending
vcnx-ex31_1.htm Edgar Link pending
vcnx-ex31_2.htm Edgar Link pending
vcnx-ex32_1.htm Edgar Link pending
vcnx-ex4_3.htm Edgar Link pending
vcnx-ex4_3.pdf Edgar Link pending
vcnx-ex4_4.htm Edgar Link pending
vcnx-ex4_4.pdf Edgar Link pending
vcnx-ex4_5.htm Edgar Link pending
vcnx-ex4_5.pdf Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
vcnx-20240331_htm.xml Edgar Link completed