Issuance of Series A Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions |
9 Months Ended | ||
---|---|---|---|
Mar. 03, 2023 |
Sep. 30, 2023 |
Dec. 31, 2022 |
|
Issuance of Series A Preferred Stock (Details) [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 | 0 | 0 | |
Preferred stock, shares outstanding | 0 | 0 | |
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 (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 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 Oxylanthanum Carbonate, 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 Oxylanthanum Carbonate, 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 Oxylanthanum Carbonate following receipt of TDAPA approval. | ||
Aggregate fair value (in Dollars) | $ 2.8 | ||
Initial carrying value (in Dollars) | $ 25.4 | ||
Annual rate percentage | 8.00% | ||
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 (Details) [Line Items] | |||
Warrants offering costs (in Dollars) | $ 0.2 | ||
Series A-1 Preferred Stock [Member] | |||
Issuance of Series A Preferred Stock (Details) [Line Items] | |||
Preferred stock, shares outstanding | 0 | ||
Private placement | 30,190 | ||
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 (Details) [Line Items] | |||
Preferred stock, shares authorized | 43,649 | 0 | |
Preferred stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 | |
Preferred stock, shares issued | 43,649 | ||
Preferred stock, shares outstanding | 43,649 | 0 | |
Designated shares of preferred stock | 1,800,000 | ||
Series A-3 Preferred Stock [Member] | |||
Issuance of Series A Preferred Stock (Details) [Line Items] | |||
Designated shares of preferred stock | 1,800,000 | ||
Series A-4 Preferred Stock [Member] | |||
Issuance of Series A Preferred Stock (Details) [Line Items] | |||
Designated shares of preferred stock | 1,800,000 | ||
Series A-5 Preferred Stock [Member] | |||
Issuance of Series A Preferred Stock (Details) [Line Items] | |||
Designated shares of preferred stock | 3,600,000 | ||
Series A Preferred Stock [Member] | |||
Issuance of Series A Preferred Stock (Details) [Line Items] | |||
Preferred stock, par value (in Dollars per share) | $ 0.001 |