Issuance of Series A-1 Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | |||
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Mar. 03, 2023 |
Mar. 31, 2023 |
Dec. 31, 2022 |
Jul. 31, 2021 |
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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% |