0001171843-24-004651 | 10-Q | XBRL Viewer

Lease, Cost [Table Text Block]

	Three Months Ended				Nine Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Right-of-use lease cost, included in general and administrative on the Statements of Operations	$	19,299	$	21,188	$	59,208	$	61,530

Lease Term and Discount Rate [Table Text Block]

	June 30, 2024			September 30,2023
Remaining lease term (months):		6			15
Estimated incremental borrowing rate:		9.2	%		9.2	%

Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

Year Ending
September 30, 2024	$	19,781
September 30, 2025		19,781

Total lease payments		39,562
Less imputed interest		745

Present value of right-of-use lease liabilities		38,817
Present value included in current liabilities		38,817

Present value included in long-term liabilities	$	-

Leases, Cash Flow Information [Table Text Block]

	Nine Months Ended
	June 30, 2024		June 30, 2023
Cash paid for amounts included in the measurement of right-of-use lease liabilities, included in accounts payable and accrued liabilities on the Statements of Cash Flow.	$	59,732	$	59,045

Note 4 - Right-of-use Lease With Related Party

9 Months Ended

Jun. 30, 2024

Lessee, Operating Leases [Text Block]

4. Right-of-Use Lease with Related Party

The Company leases a facility used for executive offices from a related company. The original lease expired in December 2022 and the Company executed a two-year extension through December 2024.

The components of right-of-use lease cost were as follows:

	Three Months Ended				Nine Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Right-of-use lease cost, included in general and administrative on the Statements of Operations	$	19,299	$	21,188	$	59,208	$	61,530

Lease terms and discount rates were as follows:

	June 30, 2024			September 30,2023
Remaining lease term (months):		6			15
Estimated incremental borrowing rate:		9.2	%		9.2	%

The future minimum lease payments under right-of-use leases at June 30, 2024 were as follows:

Year Ending
September 30, 2024	$	19,781
September 30, 2025		19,781

Total lease payments		39,562
Less imputed interest		745

Present value of right-of-use lease liabilities		38,817
Present value included in current liabilities		38,817

Present value included in long-term liabilities	$	-

Cash flow information was as follows:

	Nine Months Ended
	June 30, 2024		June 30, 2023
Cash paid for amounts included in the measurement of right-of-use lease liabilities, included in accounts payable and accrued liabilities on the Statements of Cash Flow.	$	59,732	$	59,045

Note 6 - Capital Shares (Tables)

9 Months Ended

Jun. 30, 2024

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

	Number of Warrant Shares (#)			Weighted Average Exercise Price
Nine Months Ended June 30, 2024
Balance - September 30, 2023		720,909		$	19.51

Expired		(111,192	)		7.26

Balance - June 30, 2024		609,717		$	21.74

Nine Months Ended June 30, 2023
Balance - September 30, 2022		521,718		$	28.00

Issued		384,496			8.75
Exercised		(100,760	)		7.63
Expired		(4,018	)		111.30

Balance - June 30, 2023		801,436		$	20.93

Number of Warrants (#)	Exercise Prices		Expiry Dates
1,687	$	22.40	January 2025
173,614	$	10.50	December 2025
15,627	$	56.00	February 2026
27,399	$	31.94	March 2027
391,390	$	24.64	September 2027
609,717

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	Nine Months Ended June 30, 2023
	Class A Warrants			Class B Warrants

Risk free interest rate		4.54	%	4.76	%
Expected life (years)	3.14			1.14
Expected share price volatility		90.73	%	89.70	%
Expected dividend yield		0.00	%	0.00	%

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

	Number of Options (#)			Weighted Average Exercise Price		Weighted Average Grant Date Fair Value
Nine Months Ended June 30, 2024
Balance - September 30, 2023		420,615		$	25.60	$	18.84

Granted		500			4.10		3.10
Forfeited		(2,401	)		15.00		10.70
Expired		(35,674	)		33.18		24.63

Balance - June 30, 2024		383,040		$	24.93	$	18.33

Nine Months Ended June 30, 2023
Balance - September 30, 2022		314,853		$	32.62	$	23.94

Granted		47,571			10.01		7.49
Forfeited		(12,779	)		22.96		16.38
Expired		(34	)		2,129		2,129

Balance - June 30, 2023		349,611		$	29.61	$	21.77

Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block]

Number of Options (#)	Exercisable at June 30, 2024 (#)		Range of Exercise Prices		Expiry Dates
374		374	$	246.96 - 596.82	June 2024 - Mar 2025
37,719		37,719	C$	15.12	May 2024 - Dec 2028
43,031		43,031	$	22.12	May 2024 - Feb 2030
51,006		51,006	$	52.08 - 56.49	May 2024 - Oct 2030
81,041		80,971	$	36.75 - 40.18	Apr 2024 - Sep 2031
58,753		48,610	$	25.97	Apr 2024 - Feb 2032
111,116		54,551	$	4.10 - 10.01	Apr 2024 - Oct 2033
383,040		316,262

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	Nine Months Ended June 30, 2024			Nine Months Ended June 30, 2023

Risk free interest rate		4.92	%		3.62% - 4.18	%
Expected life (years)		5			5
Expected share price volatility		97.26	%		95.3% - 97.34	%
Expected dividend yield		0.00	%		0.00	%

Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block]

	Number of RSU (#)		Weighted Average Grant Date Fair Value
Nine Months Ended June 30, 2024
Balance - September 30, 2023		33,045	$	5.60

Granted		19,772		4.52

Balance - June 30, 2024		52,817	$	5.20

Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

		Number of RSU (#)				Expiry Date
Fully-vested RSUs			52,817			August 2033 - June 2034

Note 1 - Nature of Operations

9 Months Ended

Jun. 30, 2024

Nature of Operations [Text Block]

1. Nature of Operations

Edesa Biotech, Inc. (the Company or Edesa) is a biopharmaceutical company focused on acquiring, developing and commercializing clinical stage drugs for inflammatory and immune-related diseases with clear unmet medical needs. The Company is organized under the laws of British Columbia, Canada and is headquartered in Markham, Ontario. It operates under its wholly owned subsidiaries, Edesa Biotech Research, Inc., an Ontario, Canada corporation, and Edesa Biotech USA, Inc., a California, USA corporation.

The Company’s common shares trade on The Nasdaq Capital Market in the United States under the symbol “EDSA”.

Note 6 - Capital Shares

9 Months Ended

Jun. 30, 2024

Equity [Text Block]

6. Capital Shares

Equity offerings

On November 2, 2022, the Company completed a private placement of units consisting of 384,475 common shares, Class A warrants to purchase up to an aggregate of 192,248 common shares and Class B warrants to purchase up to an aggregate of 192,248 common shares. Net proceeds from the offering were $2.9 million, which were allocated between the relative fair values of the common shares (using a fair value of $2.7 million) and the common share purchase warrants (using a total fair value of $1.2 million). The warrants became exercisable December 23, 2022. The Class A warrants have an exercise price of $10.50 per share and will expire on December 23, 2025. The Class B warrants have an exercise price of $7.00 per share and expired on December 23, 2023. The warrants are considered contracts on the Company’s own shares and are classified as equity.

Equity distribution agreement

On March 27, 2023, the Company entered into an equity distribution agreement with Canaccord, pursuant to which the Company may offer and sell, from time to time, common shares through an at-the-market equity offering program for up to $20 million in gross proceeds, subject to certain offering limitations that currently allow the Company to offer and sell common shares having an aggregate gross sales price of up to $8.4 million. The Company has no obligation to sell any of the common shares and may at any time suspend sales or terminate the equity distribution agreement in accordance with its terms. During the nine months ended June 30, 2024, the Company sold a total of 171,916 common shares pursuant to the agreement for net proceeds of approximately $0.6 million after deducting commissions and direct costs.

Black-Scholes option valuation model

The Company uses the Black-Scholes option valuation model to determine the fair value of share-based compensation for share options and compensation warrants granted and the fair value of warrants issued. Option valuation models require the input of highly subjective assumptions including the expected price volatility. The Company calculates expected volatility based on historical volatility of the Company’s share price. When there is insufficient data available, the Company uses a peer group that is publicly traded to calculate expected volatility. The Company adopted interest-free rates by reference to the U.S. treasury yield rates. The Company calculated the fair value of share options granted based on the expected life of 5 years considering expected forfeitures during the option term of 10 years. Expected life of warrants is based on warrant terms. The Company did not and is not expected to declare any dividends. Changes in the subjective input assumptions can materially affect the fair value estimates, and therefore the existing models do not necessarily provide a reliable single measure of the fair value of the Company’s warrants and share options.

Warrants

A summary of the Company’s warrant activity is as follows:

	Number of Warrant Shares (#)			Weighted Average Exercise Price
Nine Months Ended June 30, 2024
Balance - September 30, 2023		720,909		$	19.51

Expired		(111,192	)		7.26

Balance - June 30, 2024		609,717		$	21.74

Nine Months Ended June 30, 2023
Balance - September 30, 2022		521,718		$	28.00

Issued		384,496			8.75
Exercised		(100,760	)		7.63
Expired		(4,018	)		111.30

Balance - June 30, 2023		801,436		$	20.93

The weighted average contractual life remaining on the outstanding warrants at June 30, 2024 is 32 months.

The following table summarizes information about the warrants outstanding at June 30, 2024:

Number of Warrants (#)	Exercise Prices		Expiry Dates
1,687	$	22.40	January 2025
173,614	$	10.50	December 2025
15,627	$	56.00	February 2026
27,399	$	31.94	March 2027
391,390	$	24.64	September 2027
609,717

The fair value of warrants granted during the nine months ended June 30, 2023 was estimated using the Black-Scholes option valuation model using the following assumptions:

	Nine Months Ended June 30, 2023
	Class A Warrants			Class B Warrants

Risk free interest rate		4.54	%	4.76	%
Expected life (years)	3.14			1.14
Expected share price volatility		90.73	%	89.70	%
Expected dividend yield		0.00	%	0.00	%

Share options

The Company adopted an Equity Incentive Compensation Plan in 2019 (the 2019 Plan) administered by the independent members of the Board of Directors, which amended and restated prior plans. Options, restricted shares and restricted share units are eligible for grant under the 2019 Plan. The total number of shares available for issuance under the terms of the 2019 Plan is 642,737. The remaining number of shares available to grant at June 30, 2024 is 156,679.

The Company’s 2019 Plan allows options to be granted to directors, officers, employees and certain external consultants and advisers. Under the 2019 Plan, the option term is not to exceed 10 years and the exercise price of each option is determined by the independent members of the Board of Directors.

Options have been granted under the 2019 Plan allowing the holders to purchase common shares of the Company as follows:

	Number of Options (#)			Weighted Average Exercise Price		Weighted Average Grant Date Fair Value
Nine Months Ended June 30, 2024
Balance - September 30, 2023		420,615		$	25.60	$	18.84

Granted		500			4.10		3.10
Forfeited		(2,401	)		15.00		10.70
Expired		(35,674	)		33.18		24.63

Balance - June 30, 2024		383,040		$	24.93	$	18.33

Nine Months Ended June 30, 2023
Balance - September 30, 2022		314,853		$	32.62	$	23.94

Granted		47,571			10.01		7.49
Forfeited		(12,779	)		22.96		16.38
Expired		(34	)		2,129		2,129

Balance - June 30, 2023		349,611		$	29.61	$	21.77

During the three and nine months ended June 30, 2024, the independent members of the Board of Directors granted 500 employee options and no director options. During the three and nine months ended June 30, 2024 and 2023, there were no employee or director options granted. The options have a term of 10 years and an exercise price equal to the Nasdaq closing price on the grant date.

The weighted average contractual life remaining on the outstanding options at June 30, 2024 is 83 months.

The following table summarizes information about the options under the 2019 Plan outstanding and exercisable at June 30, 2024:

Number of Options (#)	Exercisable at June 30, 2024 (#)		Range of Exercise Prices		Expiry Dates
374		374	$	246.96 - 596.82	June 2024 - Mar 2025
37,719		37,719	C$	15.12	May 2024 - Dec 2028
43,031		43,031	$	22.12	May 2024 - Feb 2030
51,006		51,006	$	52.08 - 56.49	May 2024 - Oct 2030
81,041		80,971	$	36.75 - 40.18	Apr 2024 - Sep 2031
58,753		48,610	$	25.97	Apr 2024 - Feb 2032
111,116		54,551	$	4.10 - 10.01	Apr 2024 - Oct 2033
383,040		316,262

The options exercisable at June 30, 2024 had a weighted average exercise price of $28.05, $22.00 intrinsic value and a weighted average remaining life of 78 months. There were 66,778 options at June 30, 2024 that had not vested with a weighted average exercise price of $10.15, $68.00 intrinsic value and a weighted average remaining life of 104 months.

The fair value of options granted during the nine months ended June 30, 2024 and 2023 was estimated using the Black-Scholes option valuation model using the following assumptions:

	Nine Months Ended June 30, 2024			Nine Months Ended June 30, 2023

Risk free interest rate		4.92	%		3.62% - 4.18	%
Expected life (years)		5			5
Expected share price volatility		97.26	%		95.3% - 97.34	%
Expected dividend yield		0.00	%		0.00	%

The Company recorded $0.1 million and $0.1 million of share-based compensation expenses for the three months ended June 30, 2024 and 2023, respectively and $0.4 million and $0.7 million for the nine months ended June30, 2024 and 2023.

As of June 30, 2024, the Company had approximately $0.1 million of unrecognized share-based compensation expense, which is expected to be recognized over a period of 27 months.

Restricted share units (RSU)

The Company’s 2019 Plan allows restricted share units (RSUs) to be granted to directors, officers, employees and certain external consultants and advisers. Under the 2019 Plan, the RSU term is not to exceed 10 years. The fair value is based on the 5-day VWAP of the Company’s common shares up to the date of grant. The initial grant of RSUs was in August 2023. There were no RSUs granted in the comparative period.

The following is a summary of changes in the status of RSUs from October 1, 2023 through June 30, 2024:

	Number of RSU (#)		Weighted Average Grant Date Fair Value
Nine Months Ended June 30, 2024
Balance - September 30, 2023		33,045	$	5.60

Granted		19,772		4.52

Balance - June 30, 2024		52,817	$	5.20

The following table summarizes information about the RSUs under the 2019 Plan outstanding and exercisable at June 30, 2024:

		Number of RSU (#)				Expiry Date
Fully-vested RSUs			52,817			August 2033 - June 2034

All RSUs that were granted vested immediately upon the grant date. The outstanding RSUs can be converted to common shares by the holder at any time prior to the expiry date. There is no future unrecorded compensation expense for the RSUs.

The entire disclosure for equity.

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+ Details

Note 8 - Financial Instruments

9 Months Ended

Jun. 30, 2024

Financial Instruments Disclosure [Text Block]

8. Financial Instruments

(a) Fair values

The Company uses the fair value measurement framework for valuing financial assets and liabilities measured on a recurring basis in situations where other accounting pronouncements either permit or require fair value measurements.

The Company follows the fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs are inputs that reflect assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

There are three levels of inputs that may be used to measure fair value:

●

Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

●

Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets and liabilities in markets that are not active.

●

Level 3 – Unobservable inputs for the asset or liability that are supported by little or no market activity.

The carrying value of certain financial instruments such as cash and cash equivalents, accounts and other receivable, accounts payable and accrued liabilities approximates fair value due to the short-term nature of such instruments.

(b) Interest rate and credit risk

Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in interest rates. The Company does not believe that the results of operations or cash flows would be affected to any significant degree by a significant change in market interest rates, relative to interest rates on cash and cash equivalents due to the short-term nature of these balances.

The Company is also exposed to credit risk at period end from the carrying value of its cash and cash equivalents and accounts and other receivable. The Company manages this risk by maintaining bank accounts with Canadian Chartered Banks and a U.S. banks believed to be credit worthy and money market mutual funds of U.S. government securities. The Company’s cash is not subject to any external restrictions. The Company assesses the collectability of accounts receivable through a review of the current aging and terms, as well as an analysis of historical collection rates, general economic conditions and credit status of government agencies. Credit risk for the reimbursement grant and HST refunds receivable are not considered significant since amounts are due from the Canadian government’s SIF and the Canada Revenue Agency.

(c) Foreign exchange risk

The Company and its subsidiary have balances in Canadian dollars that give rise to exposure to foreign exchange (FX) risk relating to the impact of translating certain non-U.S. dollar balance sheet accounts as these statements are presented in U.S. dollars. A strengthening U.S. dollar will lead to a FX loss while a weakening U.S. dollar will lead to a FX gain. The Company has not entered into any agreements or purchased any instruments to hedge possible currency risks. At June 30, 2024, the Company and its Canadian subsidiary had assets denominated in Canadian dollars of approximately C$1.0 million and the U.S. dollar exchange rate at this date was equal to 1.3680 Canadian dollars. Based on the exposure at June 30, 2024, a 10% annual change in the Canadian/U.S. exchange rate would impact the Company’s loss and other comprehensive loss by approximately $0.1 million.

(d) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty raising liquid funds to meet commitments as they fall due. In meeting its liquidity requirements, the Company closely monitors its forecasted cash requirements with expected cash drawdown.

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Jun. 30, 2024	Aug. 09, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-37619
Entity Registrant Name	EDESA BIOTECH, INC.
Entity Incorporation, State or Country Code	CA
Entity Address, Address Line One	100 Spy Court
Entity Address, City or Town	Markham
Entity Address, Country	CA
Entity Address, Postal Zip Code	L3R 5H6
City Area Code	289
Local Phone Number	800-9600
Title of 12(b) Security	Common Shares, without par value
Trading Symbol	EDSA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		3,247,389
Entity Central Index Key	0001540159
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (5,207,994)	$ (6,654,072)
Adjustments for:
Depreciation and amortization	141,843	137,501
Share-based compensation	443,559	729,380
Gain on payable forgiveness	(14,766)	0
Changes in working capital items:
Accounts and other receivable	71,501	1,149,129
Prepaid expenses and other current assets	109,647	339,031
Accounts payable and accrued liabilities	533,044	(869,430)
Net cash used in operating activities	(3,923,166)	(5,168,461)
Cash flows from financing activities:
Proceeds from issuance of common shares and warrants	729,387	3,861,245
Proceeds from exercise of warrants	0	770,531
Payments for issuance costs of common shares and warrants	(76,389)	(214,130)
Repayment of debt	(29,532)	0
Net cash provided by financing activities	623,466	4,417,646
Effect of exchange rate changes on cash and cash equivalents	(20,813)	117,066
Net change in cash and cash equivalents	(3,320,513)	(633,749)
Cash and cash equivalents, beginning of period	5,361,397	7,090,919
Cash and cash equivalents, end of period	$ 2,040,884	$ 6,457,170

Note 4 - Right-of-use Lease With Related Party (Details Textual)	Dec. 31, 2022
Related Party [Member]
Lessee, Operating Lease, Renewal Term	2 years

Note 3 - Intangible Assets (Tables)

9 Months Ended

Jun. 30, 2024

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	June 30, 2024			September 30, 2023

The Constructs	$	2,529,483		$	2,529,483

Less: accumulated amortization		(425,342	)		(349,463	)

Total intangible assets, net	$	2,104,141		$	2,180,020

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Year Ending
September 30, 2024		25,293
September 30, 2025		101,172
September 30, 2026		101,172
September 30, 2027		101,172
September 30, 2028		101,172
Thereafter		1,674,160

	$	2,104,141

Note 4 - Right-of-use Lease With Related Party - Cash Flow Information (Details) - USD ($)	9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash paid for amounts included in the measurement of right-of-use lease liabilities, included in accounts payable and accrued liabilities on the Statements of Cash Flow.	$ 59,732	$ 59,045

Note 4 - Right-of-use Lease With Related Party - Lease Cost (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Right-of-use lease cost, included in general and administrative on the Statements of Operations	$ 19,299	$ 21,188	$ 59,208	$ 61,530

Note 6 - Capital Shares - (Details) - $ / shares	9 Months Ended
Note 6 - Capital Shares - (Details) - $ / shares	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022
Number of options (in shares)	383,040	420,615	349,611	314,853
Options exercisable (in shares)	316,262
Weighted average exercise price (in dollars per share)	$ 24.93	$ 25.6	$ 29.61	$ 32.62
Range One [Member]
Number of options (in shares)	374
Options exercisable (in shares)	374
Lower limit (in dollars per share)	$ 246.96
Upper limit (in dollars per share)	$ 596.82
Range Two [Member]
Number of options (in shares)	37,719
Options exercisable (in shares)	37,719
Weighted average exercise price (in dollars per share)	$ 15.12
Range Three [Member]
Number of options (in shares)	43,031
Options exercisable (in shares)	43,031
Weighted average exercise price (in dollars per share)	$ 22.12
Range Four [Member]
Number of options (in shares)	51,006
Options exercisable (in shares)	51,006
Lower limit (in dollars per share)	$ 52.08
Upper limit (in dollars per share)	$ 56.49
Range Five [Member]
Number of options (in shares)	81,041
Options exercisable (in shares)	80,971
Lower limit (in dollars per share)	$ 36.75
Upper limit (in dollars per share)	$ 40.18
Range Six [Member]
Number of options (in shares)	58,753
Options exercisable (in shares)	48,610
Weighted average exercise price (in dollars per share)	$ 25.97
Range Seven [Member]
Number of options (in shares)	111,116
Options exercisable (in shares)	54,551
Lower limit (in dollars per share)	$ 4.1
Upper limit (in dollars per share)	$ 10.01

Note 6 - Capital Shares - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Jun. 30, 2024 $ / shares shares
Balance, number of RSU (in shares) \| shares	33,045
Balance, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 5.6
Granted, number of RSU (in shares) \| shares	19,772
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 4.52
Balance, number of RSU (in shares) \| shares	52,817
Balance, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 5.2

Note 5 - Commitments - Commitments for Contractual Research (Details)	Jun. 30, 2024 USD ($)
September 30, 2024	$ 301,000
September 30, 2025	49,000
September 30, 2026	36,000
September 30, 2027	42,000
September 30, 2028	0
Contractual Obligation	$ 428,000

Note 10 - Related Party Transactions

9 Months Ended

Jun. 30, 2024

During the three and nine months ended June 30, 2024 and 2023, the Company paid cash of $20,000 and $60,000, respectively, for a ROU lease from a company controlled by the Company’s CEO. These transactions are in the normal course of operations and are measured at the exchange amount, which is the amount of consideration established and agreed to by both parties. On December 31, 2022, the Company executed a two-year lease extension through December 31, 2024 in accordance with the terms of the original lease agreement. Rent of approximately $7,000 was payable at June 30, 2024. There was no rent payable at June 30, 2023.

In October 2023, we entered into $10.0 million revolving credit agreement with Pardeep Nijhawan Medicine Professional Corporation, an entity controlled by Dr. Pardeep Nijhawan, MD, our Chief Executive Officer and Secretary and member of our board of directors (Credit Agreement), providing an unsecured revolving credit facility, with a credit limit of $3.5 million (Credit Limit) which was available immediately. The line of credit bears interest at the Canadian Imperial Bank of Commerce US Base-Interest Rate plus 3% per annum and has a maturity date of March 31, 2026, unless terminated earlier by either party with 90 days’ notice. Advances under the line of credit are tied to a borrowing base (Borrowing Base) consisting of eligible grant receivables from SIF, future potential license fee receivables and any other accounts receivable. At no time shall the aggregate principal amount of all advances outstanding exceed the lesser of (i) the Credit Limit and (ii) an amount equal to 85% of the Borrowing Base. The Company has not drawn any funds from the Credit Agreement. During the three and nine months ended June 30, 2024 the Company incurred a standby charge of $13,000 and $38,000. There was no standby charge in the three and nine months ended June 30, 2023.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (c)
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Note 3 - Intangible Assets (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2020	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Amortization of Intangible Assets		$ 30	$ 30	$ 80	$ 80
The Constructs [Member]
License Agreement, Term	25 years
License Agreement, Renewal Period	5 years
Finite-Lived Intangible Asset, Useful Life	25 years
Upfront License Payment	$ 2,500

Note 3 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Less: accumulated amortization	$ (425,342)	$ (349,463)
Total intangible assets, net	2,104,141	2,180,020
The Constructs [Member]
The Constructs	$ 2,529,483	$ 2,529,483

Note 6 - Capital Shares - Option Assumptions (Details)	9 Months Ended
Note 6 - Capital Shares - Option Assumptions (Details)	Jun. 30, 2024	Jun. 30, 2023
Risk free interest rate	4.92%
Risk free interest rate, minimum		3.62%
Risk free interest rate, maximum		4.18%
Expected life (years) (Year)	5 years	5 years
Expected share price volatility	97.26%
Expected share price volatility, minimum		95.30%
Expected share price volatility, maximum		97.34%
Expected dividend yield	0.00%	0.00%

Note 7 - Government Contributions

9 Months Ended

Jun. 30, 2024

Government Assistance [Text Block]

7. Government Contributions

Reimbursement grant income for the Company’s federal grant with the Canadian government’s SIF is recorded based on the claim period of eligible costs.

In February 2021, the Company entered into a multi-year contribution agreement (the 2021 SIF Agreement) with the Canadian Government’s Strategic Innovation Fund. Under the 2021 SIF Agreement, the Government of Canada committed up to C$14.1 million in nonrepayable funding which was intended to support research and development related to our EB05 clinical program. No further funding will be received from the 2021 SIF Agreement.

In October 2023, the Company entered into a multi-year contribution agreement (the 2023 SIF Agreement) with the Canadian Government’s Strategic Innovation Fund. Under the 2023 SIF Agreement, the Government of Canada committed up to C$23 million in partially repayable funding toward (i) conducting and completing the Company’s Phase 3 clinical study of its experimental drug EB05 in critical-care patients with Acute Respiratory Distress Syndrome (ARDS) caused by COVID-19 or other infectious agents, (ii) submitting EB05 for governmental approvals and manufacturing scale-up, following, and subject to, completing the Phase 3 study and (iii) conducting two non-clinical safety studies to assess the potential long-term impact of EB05 exposure (the Project). Of the C$23 million committed by SIF, up to C$5.8 million is not repayable by the Company. The remaining C$17.2 million is conditionally repayable starting in 2029 only if and when the Company earns gross revenue. The repayable portion would be payable over fifteen (15) years based on a percentage rate of the Company’s annual revenue growth. The maximum amount repayable under the Agreement is 1.4 times the original repayable amount. In addition, the Company is entitled to partial reimbursement of certain eligible expenses under the Agreement.

Under the Agreement, the Company agreed to certain financial and non-financial covenants and other obligations in relation to the Project. Pursuant to the Agreement, certain customary events of default, such as the Company’s or Edesa Biotech Research’s breach of their covenants and obligations under the Agreement, their insolvency, winding up or dissolution, and other similar events, may permit the Government of Canada to declare an event of default under the Agreement. Upon an event of default, subject to applicable cure, the Government of Canada may exercise a number of remedies, including suspending or terminating funding under the Agreement, demanding repayment of funding previously received and/or terminating the Agreement.

The funding and any associated conditional repayments are not secured by any assets of Edesa Biotech Research or the Company.

The Agreement will expire on the later of December 31, 2042 or the date of the last repayment, unless earlier terminated, subject to certain provisions that extend three (3) years beyond the term or early termination of the Agreement.

Under the 2023 SIF Agreement the Company recorded grant income of $0.2 million and $0.6 million for the three and nine months ended June 30, 2024. No grant income was recorded under the 2023 SIF Agreement for the three and nine months ended June 30, 2023.

Note 6 - Capital Shares - Option Activity (Details) - $ / shares	9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Balance, number of options (in shares)	420,615	314,853
Balance, options, weighted average exercise price (in dollars per share)	$ 25.6	$ 32.62
Balance, options, weighted average grant date fair value (in dollars per share)	$ 18.33	$ 21.77	$ 18.84	$ 23.94
Granted, number of options (in shares)	500	47,571
Granted, options, weighted average exercise price (in dollars per share)	$ 4.1	$ 10.01
Granted, options, weighted average grant date fair value (in dollars per share)	$ 3.1	$ 7.49
Forfeited, number of options (in shares)	(2,401)	(12,779)
Forfeited, options, weighted average exercise price (in dollars per share)	$ 15	$ 22.96
Forfeited, options, weighted average grant date fair value (in dollars per share)	$ 10.7	$ 16.38
Expired, number of options (in shares)	(35,674)	(34)
Expired, options, weighted average exercise price (in dollars per share)	$ 33.18	$ 2,129
Expired, options, weighted average grant date fair value (in dollars per share)	$ 24.63	$ 2,129
Balance, number of options (in shares)	383,040	349,611
Balance, options, weighted average exercise price (in dollars per share)	$ 24.93	$ 29.61

Note 6 - Capital Shares - Warrants Assumptions (Details)	Jun. 30, 2023
Class A Warrants [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Warrant assumption	0.0454
Class A Warrants [Member] \| Measurement Input, Expected Term [Member]
Warrant assumption	3.14
Class A Warrants [Member] \| Measurement Input, Price Volatility [Member]
Warrant assumption	0.9073
Class A Warrants [Member] \| Measurement Input, Expected Dividend Rate [Member]
Warrant assumption	0
Class B Warrants [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Warrant assumption	0.0476
Class B Warrants [Member] \| Measurement Input, Expected Term [Member]
Warrant assumption	1.14
Class B Warrants [Member] \| Measurement Input, Price Volatility [Member]
Warrant assumption	0.897
Class B Warrants [Member] \| Measurement Input, Expected Dividend Rate [Member]
Warrant assumption	0

Condensed Interim Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2024	Sep. 30, 2023
Common Stock, Shares Authorized, Unlimited [Fixed List]	Unlimited	Unlimited
Common Stock, No Par Value (in dollars per share)	$ 0	$ 0
Common Stock, Shares, Issued (in shares)	3,247,389	3,075,473
Common Stock, Shares, Outstanding (in shares)	3,247,389	3,075,473

Condensed Interim Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Sep. 30, 2022	2,380,280
Balance at Sep. 30, 2022	$ 42,473,099	$ 11,176,345	$ (213,602)	$ (44,044,553)	$ 9,391,289
Issuance of common shares (in shares)	499,918
Issuance of common shares	$ 2,916,418	944,827	0	0	3,861,245
Issuance costs	$ (242,948)	(28,357)	0	0	(271,305)
Share-based compensation		729,380	0		729,380
Net loss and comprehensive loss		0	23,415	(6,654,072)	(6,630,657)
Issuance of common shares upon exercise of warrants (in shares)	100,760
Issuance of common shares upon exercise of warrants	$ 994,618	(224,087)	0	0	770,531
Balance (in shares) at Jun. 30, 2023	2,980,958
Balance at Jun. 30, 2023	$ 46,141,187	12,598,108	(190,187)	(50,698,625)	7,850,483
Balance (in shares) at Mar. 31, 2023	2,865,517
Balance at Mar. 31, 2023	$ 45,453,733	12,489,949	(230,026)	(48,713,719)	8,999,937
Issuance costs	(146,295)	0	0	0	(146,295)
Share-based compensation	0	108,159	0		108,159
Net loss and comprehensive loss	$ 0	0	39,839	(1,984,906)	(1,945,067)
Issuance of common shares upon exercise of warrants (in shares)	115,441
Issuance of common shares upon exercise of warrants	$ 833,749	0	0	0	833,749
Balance (in shares) at Jun. 30, 2023	2,980,958
Balance at Jun. 30, 2023	$ 46,141,187	12,598,108	(190,187)	(50,698,625)	7,850,483
Balance (in shares) at Sep. 30, 2023	3,075,473
Balance at Sep. 30, 2023	$ 46,643,151	13,039,265	(214,648)	(52,418,968)	7,048,800
Issuance of common shares (in shares)	171,916
Issuance of common shares	$ 729,387	0	0	0	729,387
Issuance costs	(136,514)	0	0	0	(136,514)
Share-based compensation		443,559	0		443,559
Net loss and comprehensive loss	$ 0	0	(10,143)	(5,207,994)	(5,218,137)
Balance (in shares) at Jun. 30, 2024	3,247,389
Balance at Jun. 30, 2024	$ 47,236,024	13,482,824	(224,791)	(57,626,962)	2,867,095
Balance (in shares) at Mar. 31, 2024	3,215,968
Balance at Mar. 31, 2024	$ 47,136,168	13,373,318	(226,403)	(55,958,750)	4,324,333
Issuance of common shares (in shares)	31,421
Issuance of common shares	$ 138,421	0	0	0	138,421
Issuance costs	$ (38,565)	0	0	0	(38,565)
Share-based compensation		109,506	0		109,506
Net loss and comprehensive loss		0	1,612	(1,668,212)	(1,666,600)
Balance (in shares) at Jun. 30, 2024	3,247,389
Balance at Jun. 30, 2024	$ 47,236,024	$ 13,482,824	$ (224,791)	$ (57,626,962)	$ 2,867,095

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Note 5 - Commitments

9 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Text Block]

5. Commitments

Research and other commitments

The Company has commitments for contracted research organizations who perform clinical trials for the Company’s ongoing clinical studies and other service providers. Approximate aggregate future contractual payments at June 30, 2024 are as follows:

Year Ending

September 30, 2024	$	301,000
September 30, 2025		49,000
September 30, 2026		36,000
September 30, 2027		42,000
September 30, 2028		-

	$	428,000

License and royalty commitments

In April 2020, through its Ontario subsidiary, the Company entered into a license agreement with a third party to obtain exclusive world-wide rights to the Constructs, including sublicensing rights. An intangible asset for the acquired license has been recognized. See Note 3 for intangible assets. Under the license agreement, the Company is committed to payments of up to an aggregate amount of $356 million contingent upon meeting certain milestones outlined in the license agreement, primarily relating to future potential commercial approval and sales milestones. The Company also has a commitment to pay royalties based on any net sales of products containing the Constructs in the countries where the Company directly commercializes the products containing the Constructs and a percentage of any sublicensing revenue received by the Company and its affiliates in the countries where it does not directly commercialize the products containing the Constructs. No milestone, royalty or sublicensing payments were made to the third party during the three and nine months ended June 30, 2024 and 2023.

In 2016, through its Ontario subsidiary, the Company entered into a license agreement with a third party to obtain exclusive rights to certain know-how, patents and data relating to a pharmaceutical product. The Company will use the exclusive rights to develop the product for therapeutic, prophylactic and diagnostic uses in topical dermal applications and anorectal applications. No intangible assets have been recognized under the license agreement with the third party. Under the license agreement, the Company is committed to payments of various amounts to the third party upon meeting certain milestones outlined in the license agreement, up to an aggregate amount of $18.4 million. Upon divestiture of substantially all of the assets of the Company, the Company shall pay the third party a percentage of the valuation of the licensed technology sold as determined by an external objective expert. The Company also has a commitment to pay the third party a royalty based on net sales of the product in countries where the Company, or an affiliate, directly commercializes the product and a percentage of sublicensing revenue received by the Company and its affiliates in the countries where it does not directly commercialize the product. A milestone payment of $0.04 million and $0.16 million were to the third party during the three and nine months ended June 30, 2023 and no milestone payments were made during the three and nine months ended June 30, 2024.

In March 2021, through its Ontario subsidiary, the Company entered into a license agreement with the inventor of the same pharmaceutical product to acquire global rights for all fields of use beyond those named under the 2016 license agreement. The Company is committed to remaining payments of up to an aggregate amount of $68.9 million, primarily relating to future potential commercial approval and sales milestones. In addition, if the Company fails to file an investigational new drug application or foreign equivalent (IND) for the product within a certain period of time following the date of the agreement, the Company is required to remit to the inventor a fixed license fee quarterly as long as the requirement to file an IND remains unfulfilled. For the three and nine months ended June 30, 2024, the Company recorded an expense of $25,000 and $75,000 as a result of meeting milestones outlined in the 2021 license agreement. There were no milestones achieved in the three and nine months ended June 30, 2023 and no expenses were incurred.

In June 2024, the Company’s drug candidate, EB05, was selected by the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response within the U.S. Department of Health and Human Services, for evaluation in a U.S. government-funded clinical study. The Phase 2 platform trial will be a randomized, double-blinded, placebo-controlled, multi-center U.S. clinical trial to investigate novel threat-agnostic host-directed therapeutics, including EB05, in hospitalized adult patients with ARDS due to a variety of causes. For the EB05 cohort of the study, patients will be randomized one-to-one to either EB05 plus Standard of Care (SOC) or to a placebo plus SOC control arm. The Company plans to provide drug product for the study as well as technical support. The Company is responsible for providing drug product and placebo for the Phase 2 platform trial.

Note 3 - Intangible Assets - Estimated Future Amortization (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
September 30, 2024	$ 25,293
September 30, 2025	101,172
September 30, 2026	101,172
September 30, 2027	101,172
September 30, 2028	101,172
Thereafter	1,674,160
Total intangible assets, net	$ 2,104,141	$ 2,180,020

Note 6 - Capital Shares (Details Textual) - USD ($)		3 Months Ended		9 Months Ended
Note 6 - Capital Shares (Details Textual) - USD ($)	Nov. 02, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023	Mar. 27, 2023	Sep. 30, 2022
Stock Issued During Period, Value, New Issues		$ 138,421		$ 729,387	$ 3,861,245
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 21.74	$ 20.93	$ 21.74	$ 20.93	$ 19.51		$ 28
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term				5 years	5 years
Class of Warrant or Right, Outstanding, Weighted Average Remaining Contractual Term				32 months
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross				500	47,571
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term				83 months
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price		28.05		$ 28.05
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value Per Share		$ 22		$ 22
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term				78 months
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares		66,778		66,778
Share-Based Compensation Arrangement by Share-Based Payment Award, Option, Nonvested, Weighted Average Exercise Price		$ 10.15		$ 10.15
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Intrinsic Value Per Share		$ 68		$ 68
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Weighted Average Remaining Contractual Term				104 months
Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross		500	0	500	0
Share-Based Payment Arrangement, Nonemployee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross		0	0	0	0
The 2019 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized		642,737		642,737
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant		156,679		156,679
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term				5 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period				10 years
Share-Based Payment Arrangement, Expense		$ 100,000	$ 100,000	$ 400,000	$ 700,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount		100,000		$ 100,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition				27 months
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period				10 years
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount		$ 0		$ 0
Canaccord [Member]
Stock Issued During Period, Shares, New Issues				171,916
Stock Issued During Period, Value, New Issues				$ 600,000
Equity Offering, Maximum Amount							$ 20,000,000
Equity Offering, Limitation Amount							$ 8,400,000
Class A Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	192,248
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 10.5
Warrants and Rights Outstanding, Maturity Date	Dec. 23, 2025
Class B Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	192,248
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 7
Warrants and Rights Outstanding, Maturity Date	Dec. 23, 2023
Warrants Issued in Private Placement [Member]
Warrants and Rights Outstanding	$ 1,200,000
Private Placement [Member]
Stock Issued During Period, Shares, New Issues	384,475
Proceeds from Issuance or Sale of Equity	$ 2,900,000
Stock Issued During Period, Value, New Issues	$ 2,700,000

Note 8 - Financial Instruments (Details Textual) $ in Millions, $ in Millions	Jun. 30, 2024 USD ($)	Jun. 30, 2024 CAD ($)
Currency Exchange Rate	1.368	1.368
Sensitivity Analysis, Ten Percent Change to Foreign Currency Exchange, Impact to Net Income (Loss) and Other Comprehensive Income (Loss)	$ 0.1
Ontario Subsidiary [Member]
Net Assets		$ 1

Note 9 - Loss Per Share

9 Months Ended

Jun. 30, 2024

Earnings Per Share [Text Block]

9. Loss per Share

The Company had securities outstanding which could potentially dilute basic earnings per share in the future but were excluded from the computation of diluted loss per share in the periods presented, as their effect would have been anti-dilutive.

Note 5 - Commitments (Tables)

9 Months Ended

Jun. 30, 2024

Contractual Obligation, Fiscal Year Maturity [Table Text Block]

Year Ending

September 30, 2024	$	301,000
September 30, 2025		49,000
September 30, 2026		36,000
September 30, 2027		42,000
September 30, 2028		-

	$	428,000

Note 5 - Commitments (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
Note 5 - Commitments (Details Textual) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2021	Apr. 30, 2020	Dec. 31, 2016
The Constructs [Member]
Maximum Contingent Obligation						$ 356,000,000
Payments for Milestone, Royalty and Sublicensing	$ 0	$ 0	$ 0	$ 0
License Agreement Related to Pharmaceutical Products [Member]
Maximum Contingent Obligation							$ 18,400,000
Finite-Lived License Agreements, Gross						$ 0
Payments for Milestones	0	40,000.00	0	160,000
License Agreement to Acquire Global Rights of Pharmaceutical Product [Member]
Maximum Contingent Obligation					$ 68,900,000
Milestone Expense	$ 25,000	$ 0	$ 75,000	$ 0

Note 10 - Related Party Transactions (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Canadian Imperial Bank of Commerce US Base-interest Rate [Member]
Revolving Credit Facility [Member] \| Pardeep Nijhawan Medicine Professional Corporation [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000,000
Debt Instrument, Covenant, Maximum Percentage of Borrowing Base for Outstanding Principal	85.00%
Long-Term Line of Credit		$ 0		$ 0
Line of Credit Facility, Commitment Fee Amount		13,000	$ 0	38,000	$ 0
Revolving Credit Facility [Member] \| Pardeep Nijhawan Medicine Professional Corporation [Member] \| Canadian Imperial Bank of Commerce US Base-interest Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	3.00%
Unsecured Line of Credit [Member] \| Pardeep Nijhawan Medicine Professional Corporation [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,500,000
Chief Executive Officer [Member]
Operating Lease, Expense		20,000	20,000	60,000	60,000
Lessee, Operating Lease, Renewal Term						2 years
Accrued Rent		$ 7,000	$ 0	$ 7,000	$ 0

Note 4 - Right-of-use Lease With Related Party - Future Minimum Lease Payments (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
September 30, 2024	$ 19,781
September 30, 2025	19,781
Total lease payments	39,562
Less imputed interest	745
Present value of right-of-use lease liabilities	38,817
Present value included in current liabilities	38,817	$ 74,714
Present value included in long-term liabilities	$ 0	$ 19,773

Note 2 - Basis of Presentation

9 Months Ended

Jun. 30, 2024