Quarterly report pursuant to Section 13 or 15(d)

Issuance of Series A-1 Preferred Stock (Details)

v3.23.1
Issuance of Series A-1 Preferred Stock (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended
Mar. 03, 2023
Mar. 31, 2023
Dec. 31, 2022
Jul. 31, 2021
Issuance of Series A-1 Preferred Stock (Details) [Line Items]        
Preferred stock, shares authorized     10,000,000  
Preferred stock, par value (in Dollars per share)   $ 0.001 $ 0.001  
Preferred stock, shares issued      
Preferred stock, shares outstanding      
Preferred stock, shares outstanding   30,190 0  
Preferred stock, shares issued   30,190 0  
Shares issued 30,190      
Aggregate net proceeds (in Dollars) $ 28.0      
Offering expenses (in Dollars) $ 2.2      
Conversion of shares description   (i) shares of common stock of the Company and, if applicable, shares of Series A-2 Preferred Stock, in lieu of Common Stock, (ii) a tranche A warrant to acquire approximately 46,675,940 shares of Series A-3 Preferred Stock (the “Tranche A Warrant”), (iii) a tranche B warrant to acquire approximately 42,432,672 shares of Series A-4 Preferred Stock (the “Tranche B Warrant”), and (iv) a tranche C warrant to acquire approximately 67,892,276 shares of Series A-5 Preferred Stock (the “Tranche C Warrant”, together with the Tranche A Warrant and the Tranche B Warrant, the “Warrants”). The Tranche A warrants for an aggregate exercise price of approximately $25 million are exercisable until 21 days following the Company’s announcement of receipt of FDA approval for Renazorb, the Tranche B warrants for an aggregate exercise price of approximately $25 million are exercisable until 21 days following the Company’s announcement of receipt of Transitional Drug Add-On Payment Adjustment (“TDAPA”) approval for Renazorb, and the Tranche C Warrant for an aggregate exercise price of approximately $50 million are exercisable until 21 days following four quarters of commercial sales of Renazorb following receipt of TDAPA approval.    
Conversion per share (in Dollars per share)   $ 1,000    
Aggregate fair value (in Dollars)   $ 2.8    
Initial carrying value (in Dollars)   $ 25.4    
Annual rate percentage   8.00%    
Annual dividend rate   14.00%    
Accrued dividends (in Dollars)   $ 0.2    
Price per share (in Dollars per share)   $ 6.36    
Conversion of ownership description   (A) the liquidation preference with respect to such share of Series A-1 Preferred Stock, divided by (B) the conversion price, provided that, to the extent the share conversion would cause such Holder’s beneficial ownership to exceed 9.99%, such holder shall receive shares of Series A-2 Preferred Stock in lieu of common stock, on a one-for-one basis, with respect to the number of shares of common stock that exceed 9.99% ownership, (2) a Tranche A Warrant, (3) a Tranche B Warrant, and (4) a Tranche C Warrant.    
Dividents per share (in Dollars per share)   $ 1,000    
Convertible share of common stock   1    
Warrant [Member]        
Issuance of Series A-1 Preferred Stock (Details) [Line Items]        
Shares issued       4,000,000
Warrants offering costs (in Dollars)   $ 0.2    
Series A-1 Preferred Stock [Member]        
Issuance of Series A-1 Preferred Stock (Details) [Line Items]        
Preferred stock, shares outstanding   30,190    
Preferred stock, shares issued   30,190    
Series A-1 Preferred Stock [Member]        
Issuance of Series A-1 Preferred Stock (Details) [Line Items]        
Designated shares of preferred stock   30,190    
Warrants offering costs (in Dollars)   $ 2.0    
Annual rate percentage   8.00%    
Series A-2 Preferred Stock [Member]        
Issuance of Series A-1 Preferred Stock (Details) [Line Items]        
Designated shares of preferred stock   1,800,000    
Series A-3 Preferred Stock [Member]        
Issuance of Series A-1 Preferred Stock (Details) [Line Items]        
Designated shares of preferred stock   1,800,000    
Series A-4 Preferred Stock [Member]        
Issuance of Series A-1 Preferred Stock (Details) [Line Items]        
Designated shares of preferred stock   1,800,000    
Series A-5 Preferred Stock [Member]        
Issuance of Series A-1 Preferred Stock (Details) [Line Items]        
Designated shares of preferred stock   3,600,000    
Series A Preferred Stock [Member]        
Issuance of Series A-1 Preferred Stock (Details) [Line Items]        
Preferred stock, par value (in Dollars per share)   $ 0.001    
Annual dividend rate 45.00% 45.00%