Basis of Presentation - Additional Information (Details)
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1 Months Ended |
3 Months Ended |
6 Months Ended |
12 Months Ended |
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Aug. 05, 2020
USD ($)
Debtinstrument
shares
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Jul. 02, 2020
$ / shares
shares
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Jun. 05, 2020
$ / shares
shares
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Jun. 03, 2020
USD ($)
$ / shares
shares
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Apr. 30, 2020
USD ($)
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Jan. 21, 2020
USD ($)
Debtinstrument
shares
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Jun. 30, 2020
USD ($)
$ / shares
shares
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Jun. 30, 2020
USD ($)
$ / shares
shares
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Jun. 30, 2019
USD ($)
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Jun. 30, 2020
USD ($)
$ / shares
shares
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Jun. 30, 2019
USD ($)
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Dec. 31, 2019
USD ($)
$ / shares
shares
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Jul. 16, 2019
USD ($)
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Description of deferring payment on US payroll taxes |
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In April 2020, the Company began deferring payment on its share of U.S. payroll taxes owed, as allowed by the CARES Act through December 31, 2020. The Company is able to defer half of its share of U.S. payroll taxes owed until December 31, 2021, with the remaining half due on December 31, 2022
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Ordinary shares, shares issued | shares |
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17,852,149
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17,852,149
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17,852,149
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14,868,973
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Ordinary shares, par value | $ / shares |
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$ 0.01
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$ 0.01
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$ 0.01
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$ 0.01
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Proceeds from registered direct offering, net of transaction costs |
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$ 4,328,000
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Net losses |
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$ 12,521,000
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$ 27,638,000
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28,621,000
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$ 48,218,000
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$ 103,130,000
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Accumulated deficit |
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$ 263,544,000
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$ 263,544,000
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$ 263,544,000
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$ 234,923,000
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Iterum Therapeutics US Limited | Silicon Valley Bank (SVB) | Paycheck Protection Program |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Aggregate principal amount |
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$ 744,000
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Debt instrument interest rate |
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1.00%
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Debt instrument maturity period |
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2 years
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Minimum percentage of loan proceeds used for payroll costs |
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60.00%
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Debt instrument, description |
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Under the terms of the agreement, there shall be no payments due by the Company until the later of the date the SBA remits the forgiveness amount to the borrower or 10 months after the end of the six-month period beginning April 30, 2020 (the Deferral Period). Following the Deferral Period, equal monthly repayments of principal and interest will be due to fully amortize the principal amount outstanding on the note on the last day of the Deferral Period by the maturity date. Under the terms of the Program, the SBA will forgive the portion of loan proceeds used for payroll costs and other designated operating expenses for up to 24 weeks, provided at least 60% of the loan proceeds are used for payroll costs. The Company expects to incur qualifying payroll costs and other operating expenses in the 24 weeks from April 30, 2020, such that the Company may be able to request forgiveness for a portion of the loan from the Lender
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Maximum |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Aggregate initial offering price of securities authorized to issue |
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$ 150,000,000
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Private Placement | June 3 SPA |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Number of warrants to purchase ordinary shares | shares |
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208,023
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Warrants to purchase ordinary shares, exercise price | $ / shares |
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$ 2.1031
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$ 1.62
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Warrants expiry date |
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Jun. 03, 2025
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Dec. 05, 2025
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Warrants closing date |
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Jun. 05, 2020
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Percentage of ordinary shares issued to purchase warrants |
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7.00%
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Private Placement | June 30 SPA |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Warrants to purchase ordinary shares, exercise price | $ / shares |
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$ 1.42
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$ 1.42
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$ 1.42
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Warrants expiry date |
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Jan. 02, 2026
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Warrants closing date |
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Jul. 02, 2020
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Private Placement | Subsequent Event | June 30 SPA |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Number of warrants to purchase ordinary shares | shares |
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236,088
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Warrants to purchase ordinary shares, exercise price | $ / shares |
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$ 1.8531
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Warrants expiry date |
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Jun. 30, 2025
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Percentage of ordinary shares issued to purchase warrants |
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7.00%
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Private Placement | Maximum | June 3 SPA |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Number of warrants to purchase ordinary shares | shares |
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1,485,885
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Private Placement | Maximum | June 30 SPA |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Number of warrants to purchase ordinary shares | shares |
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1,686,343
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1,686,343
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1,686,343
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Private Placement | 2025 Exchangeable Notes |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Aggregate principal amount |
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$ 51,600,000
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Debt instrument interest rate |
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6.50%
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Debt instrument price per unit |
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$ 1,000
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Private Placement | RLNs |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Aggregate principal amount |
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$ 100,000
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Number of debt instruments within each notes | Debtinstrument |
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50
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Debt instrument, aggregate potential payment capped value |
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$ 160,000
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Debt instrument, aggregate potential payment capped rate |
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4,000 times
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Private Placement | RLNs | Minimum |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Debt instrument, percentage of net revenue from domestic sale for potential aggregate payments |
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15.00%
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Private Placement | RLNs | Maximum |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Debt instrument, percentage of net revenue from domestic sale for potential aggregate payments |
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20.00%
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Private Placement | Securities |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Debt instrument price per unit |
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$ 1,000
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Debt instrument, shares embedded within each unit, shares | shares |
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1,000
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Debt instrument, shares embedded within each unit, value |
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$ 1,000
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Proceeds from sale of securities |
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$ 46,400,000
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Rights Offering in Connection with Private Placement |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Rights offering description |
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Each right will entitle the holder to purchase, at the holder’s election and subject to availability, at a subscription price of $1,000 per unit, one unit consisting of (i) a 6.500% Exchangeable Notes, to be issued by Iterum Bermuda in the original principal amount of $1,000, fully and unconditionally guaranteed on an unsecured senior subordinated basis by the Company, Iterum Therapeutics International Limited, Iterum Therapeutics US Limited and Iterum Therapeutics US Holding Limited (collectively, the Guarantors), and (ii) 50 Limited Recourse RLNs, to be issued by Iterum Bermuda, fully and unconditionally guaranteed on an unsecured senior subordinated basis by the Guarantors. The Company will only accept subscription rights for up to 8,400 units for a total purchase price of $8.4 million, which amount is approximately equal to the maximum aggregate principal amount of additional notes that may be issued under the indentures pursuant to which the Exchangeable Notes and RLNs will be issued. The Company anticipates that the subscription period for the planned rights offering will begin on or about August 11, 2020, or as soon as practicable thereafter, and continue for a period of at least 20 calendar days. A registration statement relating to the planned rights offering has been filed with the SEC but has not yet become effective. The planned rights offering will be made pursuant to such registration statement and a prospectus to be filed with the SEC prior to the commencement of the planned rights offering. The expected timing of the planned rights offering is subject to change. The Company may not receive all or any of the $8.4 million it will be seeking to raise in the planned rights offering. The Company reserves the right to cancel or terminate the planned rights offering at any time.
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Rights Offering in Connection with Private Placement | Subsequent Event |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Subscription price per unit |
$ 1,000
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Maximum subscription units to be accepted | shares |
8,400
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Purchase price of subscription units |
$ 8,400,000
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Planned rights offering |
$ 8,400,000
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Rights Offering in Connection with Private Placement | 2025 Exchangeable Notes | Subsequent Event |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Debt instrument interest rate |
6.50%
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Debt instrument price per unit |
$ 1,000
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Rights Offering in Connection with Private Placement | RLNs | Subsequent Event |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Number of debt instruments within each notes | Debtinstrument |
50
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Direct Offering | June 3 SPA |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Ordinary shares, shares issued | shares |
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2,971,770
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Ordinary shares, par value | $ / shares |
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$ 0.01
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Purchase price per share | $ / shares |
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$ 1.6825
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Aggregate gross proceeds from ordinary shares |
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$ 5,000,000
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Proceeds from registered direct offering, net of transaction costs |
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$ 4,300,000
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Direct Offering | June 30 SPA |
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Organization Consolidation And Presentation Of Financial Statements [Line Items] |
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Ordinary shares, shares issued | shares |
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3,372,686
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3,372,686
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3,372,686
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Ordinary shares, par value | $ / shares |
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$ 0.01
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$ 0.01
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$ 0.01
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Purchase price per share | $ / shares |
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$ 1.4825
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$ 1.4825
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$ 1.4825
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Aggregate gross proceeds from ordinary shares |
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$ 5,000,000
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Proceeds from registered direct offering, net of transaction costs |
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$ 4,400,000
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