Annual report pursuant to Section 13 and 15(d)

Issuance of Series A Preferred Stock (Details)

v3.24.1
Issuance of Series A Preferred Stock (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Jul. 11, 2023
Mar. 03, 2023
Mar. 03, 2023
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Jul. 31, 2021
Issuance of Series A Preferred Stock [Line Items]              
Preferred stock, shares authorized       9,926,161   10,000,000  
Preferred stock, par value (in Dollars per share)       $ 0.001   $ 0.001  
Preferred stock, shares issued          
Preferred stock, shares outstanding          
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 (excluding deemed dividends) of Series A-3 Preferred Stock (the “Tranche A Warrant”), (iii) a tranche B warrant to acquire approximately 42,432,672 shares (excluding deemed dividends) of Series A-4 Preferred Stock (the “Tranche B Warrant”), and (iv) a tranche C warrant to acquire approximately 67,892,276 shares (excluding deemed dividends) 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 Warrant, for an aggregate exercise price of approximately $25 million, is exercisable until 21 days following the Company’s announcement of receipt of FDA approval for Oxylanthanum Carbonate, the Tranche B Warrant, for an aggregate exercise price of approximately $25 million, is exercisable until 21 days following the Company’s announcement of receipt of Transitional Drug Add-On Payment Adjustment (“TDAPA”) approval for Oxylanthanum Carbonate, and the Tranche C Warrant for an aggregate exercise price of approximately $50 million is exercisable until 21 days following four quarters of commercial sales of Oxylanthanum Carbonate following receipt of TDAPA approval.      
Aggregate fair value (in Dollars)       $ 2.8      
Initial carrying value (in Dollars)       $ 25.4      
Shares issued 19,516,205            
Auto-conversion preferred shares 43,649     736,773      
Annual dividend rate       14.00%      
Deemed dividends (in Dollars)       $ 0.9      
Price per share (in Dollars per share)       $ 28.71      
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      
Warrant [Member]              
Issuance of Series A Preferred Stock [Line Items]              
Warrants offering costs (in Dollars)         $ 0.2    
Shares issued             4,000,000
Series A-1 Preferred Stock [Member]              
Issuance of Series A Preferred Stock [Line Items]              
Preferred stock, shares outstanding            
Number of share issued     30,190        
Sale of Stock, Consideration Received Per Transaction (in Dollars)   $ 28.0          
(in Dollars)   $ 2.2          
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 Preferred Stock [Line Items]              
Preferred stock, shares authorized       43,649    
Preferred stock, par value (in Dollars per share)       $ 0.001   $ 0.001  
Preferred stock, shares issued       43,649      
Preferred stock, shares outstanding       43,649    
Designated shares of preferred stock       1,800,000      
Series A-3 Preferred Stock [Member]              
Issuance of Series A Preferred Stock [Line Items]              
Designated shares of preferred stock       1,800,000      
Series A-4 Preferred Stock [Member]              
Issuance of Series A Preferred Stock [Line Items]              
Designated shares of preferred stock       1,800,000      
Series A-5 Preferred Stock [Member]              
Issuance of Series A Preferred Stock [Line Items]              
Designated shares of preferred stock       3,600,000      
Series A Preferred Stock [Member]              
Issuance of Series A Preferred Stock [Line Items]              
Preferred stock, par value (in Dollars per share)       $ 0.001