Acer Therapeutics (ACER) 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 01, 2022
Cover [Abstract]
Entity Registrant Name	Acer Therapeutics Inc.
Entity Central Index Key	0001069308
Document Type	10-Q
Document Period End Date	Sep. 30, 2022
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Trading Symbol	ACER
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		16,373,611
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-33004
Entity Tax Identification Number	32-0426967
Entity Address, Address Line One	One Gateway Center
Entity Address, Address Line Two	Suite 356
Entity Address, Address Line Three	300 Washington Street
Entity Address, City or Town	Newton
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02458
City Area Code	844
Local Phone Number	902-6100
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 6,377,923	$ 12,710,762
Collaboration receivable		5,000,000
Prepaid expenses	920,710	1,094,229
Other current assets	5,436	9,283,625
Total current assets	7,304,069	28,088,616
Property and equipment, net	92,502	114,112
Other assets:
Goodwill	7,647,267	7,647,267
Other non-current assets	280,695	406,956
Total assets	15,324,533	36,256,951
Current liabilities:
Accounts payable	4,687,513	1,405,734
Accrued expenses	3,858,735	2,428,193
Deferred collaboration funding, current	10,598,201	15,825,938
Other current liabilities	138,721	9,450,085
Bridge loan payable, current, at fair value	1,510,571
Total current liabilities	20,793,741	29,109,950
Deferred collaboration funding, non-current		8,661,109
Bridge loan payable non-current, at fair value	2,967,788
Convertible note payable, at fair value	3,603,000
Other non-current liabilities	167,321	209,497
Total liabilities	27,531,850	37,980,556
Commitments and Contingencies (Note 8)
Stockholders’ deficit:
Preferred stock, $0.0001 par value; authorized 10,000,000 shares; none issued and outstanding
Common stock, $0.0001 par value; authorized 150,000,000 shares; 16,373,611 and 14,310,244 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	1,637	1,431
Additional paid-in capital	119,153,985	112,784,918
Accumulated deficit	(131,362,939)	(114,509,954)
Total stockholders’ deficit	(12,207,317)	(1,723,605)
Total liabilities and stockholders’ deficit	$ 15,324,533	$ 36,256,951

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	16,373,611	14,310,244
Common stock, shares outstanding	16,373,611	14,310,244

Condensed Statements of Operati

Condensed Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue				$ 900,000
Operating expenses:
Research and development (net of collaboration funding of $2,178,078 and $3,454,881 in the three months ended September 30, 2022 and 2021, respectively, and of $6,826,080 and $4,766,919 in the nine months ended September 30, 2022 and 2021, respectively)	$ 2,681,680	$ 1,435,461	$ 9,280,092	4,802,653
General and administrative (net of collaboration funding of $1,432,889 and $958,590 in the three months ended September 30, 2022 and 2021, respectively, and of $7,062,766 and $1,561,124 in the nine months ended September 30, 2022 and 2021, respectively)	2,557,370	1,843,360	10,071,044	7,626,009
Total operating expenses	5,239,050	3,278,821	19,351,136	12,428,662
Loss from operations	(5,239,050)	(3,278,821)	(19,351,136)	(11,528,662)
Other income (expense), net:
Costs of debt issuance	(122,400)		(1,490,594)
Changes in fair value of debt instruments	324,550		4,091,610
Interest and other income (expense), net	19,431	(2,471)	(122,641)	522,280
Foreign currency transaction gain	10,524	8,284	19,776	53,032
Total other income (expense), net	232,105	5,813	2,498,151	575,312
Net loss	$ (5,006,945)	$ (3,273,008)	$ (16,852,985)	$ (10,953,350)
Net loss per share - basic	$ (0.31)	$ (0.23)	$ (1.11)	$ (0.77)
Weighted average common shares outstanding - basic	16,089,019	14,310,244	15,230,839	14,254,092
Net loss per share - diluted	$ (0.31)	$ (0.23)	$ (1.13)	$ (0.77)
Weighted average common shares outstanding - diluted	16,089,019	14,310,244	17,085,784	14,254,092

Condensed Statements of Opera_2

Condensed Statements of Operations (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Research and Development
Collaboration funding amount	$ 2,178,078	$ 3,454,881	$ 6,826,080	$ 4,766,919
General and Administrative
Collaboration funding amount	$ 1,432,889	$ 958,590	$ 7,062,766	$ 1,561,124

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders' (Deficit) Equity - USD ($)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance at Dec. 31, 2020	$ 8,224,334	$ 1,324	$ 107,358,971	$ (99,135,961)
Beginning balance, shares at Dec. 31, 2020		13,233,137
Issuance of common stock, net of issuance costs	3,139,047	$ 107	3,138,940
Issuance of common stock, net of issuance costs, shares		1,077,107
Stock-based compensation	559,436		559,436
Net loss	(4,611,305)			(4,611,305)
Ending balance at Mar. 31, 2021	7,311,512	$ 1,431	111,057,347	(103,747,266)
Ending balance, shares at Mar. 31, 2021		14,310,244
Beginning balance at Dec. 31, 2020	8,224,334	$ 1,324	107,358,971	(99,135,961)
Beginning balance, shares at Dec. 31, 2020		13,233,137
Net loss	(10,953,350)
Ending balance at Sep. 30, 2021	2,164,443	$ 1,431	112,252,323	(110,089,311)
Ending balance, shares at Sep. 30, 2021		14,310,244
Beginning balance at Mar. 31, 2021	7,311,512	$ 1,431	111,057,347	(103,747,266)
Beginning balance, shares at Mar. 31, 2021		14,310,244
Stock-based compensation	594,663		594,663
Net loss	(3,069,037)			(3,069,037)
Ending balance at Jun. 30, 2021	4,837,138	$ 1,431	111,652,010	(106,816,303)
Ending balance, shares at Jun. 30, 2021		14,310,244
Stock-based compensation	600,313		600,313
Net loss	(3,273,008)			(3,273,008)
Ending balance at Sep. 30, 2021	2,164,443	$ 1,431	112,252,323	(110,089,311)
Ending balance, shares at Sep. 30, 2021		14,310,244
Beginning balance at Dec. 31, 2021	$ (1,723,605)	$ 1,431	112,784,918	(114,509,954)
Beginning balance, shares at Dec. 31, 2021	14,310,244	14,310,244
Stock-based compensation	$ 474,097		474,097
Proceeds allocated to First SWK Warrant	327,031		327,031
Net loss	(9,179,004)			(9,179,004)
Ending balance at Mar. 31, 2022	(10,101,481)	$ 1,431	113,586,046	(123,688,958)
Ending balance, shares at Mar. 31, 2022		14,310,244
Beginning balance at Dec. 31, 2021	$ (1,723,605)	$ 1,431	112,784,918	(114,509,954)
Beginning balance, shares at Dec. 31, 2021	14,310,244	14,310,244
Net loss	$ (16,852,985)
Ending balance at Sep. 30, 2022	$ (12,207,317)	$ 1,637	119,153,985	(131,362,939)
Ending balance, shares at Sep. 30, 2022	16,373,611	16,373,611
Beginning balance at Mar. 31, 2022	$ (10,101,481)	$ 1,431	113,586,046	(123,688,958)
Beginning balance, shares at Mar. 31, 2022		14,310,244
Issuance of common stock, net of issuance costs	3,524,198	$ 136	3,524,062
Issuance of common stock, net of issuance costs, shares		1,362,547
Stock-based compensation	460,777		460,777
Net loss	(2,667,036)			(2,667,036)
Ending balance at Jun. 30, 2022	(8,783,542)	$ 1,567	117,570,885	(126,355,994)
Ending balance, shares at Jun. 30, 2022		15,672,791
Issuance of common stock, net of issuance costs	1,000,655	$ 70	1,000,585
Issuance of common stock, net of issuance costs, shares		700,820
Value of SWK Amendment Warrant	122,400		122,400
Stock-based compensation	460,115		460,115
Net loss	(5,006,945)			(5,006,945)
Ending balance at Sep. 30, 2022	$ (12,207,317)	$ 1,637	$ 119,153,985	$ (131,362,939)
Ending balance, shares at Sep. 30, 2022	16,373,611	16,373,611

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (16,852,985)	$ (10,953,350)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Stock-based compensation	1,394,989	1,754,412
Depreciation	52,781	51,225
Non-cash changes in fair value of debt	(4,091,610)
Debt issuance costs recognized as expense	1,490,594
Gain on extinguishment of debt		(568,909)
Loss on disposal of property and equipment, net	4,669
Changes in operating assets and liabilities
Collaboration receivable	5,000,000
Prepaid expenses	173,519	(427,189)
Other current assets	9,292,384	(9,323,586)
Accounts payable	3,281,779	(583,048)
Accrued expenses	1,430,542	(1,697,086)
Deferred collaboration funding	(13,888,846)	13,771,957
Other current liabilities	(9,241,474)	9,260,913
Net cash (used in) provided by operating activities	(21,953,658)	1,285,339
Cash flows from investing activities:
Purchase of property and equipment	(35,840)	(34,458)
Net cash used in investing activities	(35,840)	(34,458)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs	4,524,853	3,139,047
Receipt of funds from Relief secured loans		4,000,000
Proceeds from Bridge Loan, net of warrant allocation and lender fees	6,013,148
Proceeds from Secured Convertible Notes, net of lender fees	5,516,556
Proceeds allocated to First SWK Warrant based on valuation	327,031
Payment of debt and convertible debt issuance costs	(724,929)
Net cash provided by financing activities	15,656,659	7,139,047
Net (decrease) increase in cash and cash equivalents	(6,332,839)	8,389,928
Cash and cash equivalents, beginning of period	12,710,762	5,761,568
Cash and cash equivalents, end of period	6,377,923	14,151,496
Supplemental cash flow information:
Cash paid for interest	$ 136,500
Non-cash financing activities:
Non-cash repayment of secured loan		4,000,000
Extinguishment of debt		$ 568,909

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION Business Acer Therapeutics Inc., a Delaware corporation (the “Company”), is a pharmaceutical company focused on the acquisition, development, and commercialization of therapies for serious rare and life-threatening diseases with significant unmet medical needs. The Company’s pipeline includes four investigational programs: ACER-001 (sodium phenylbutyrate) for the treatment of various inborn errors of metabolism, including urea cycle disorders (“UCDs”) and Maple Syrup Urine Disease (“MSUD”); ACER-801 (osanetant) for the treatment of induced vasomotor symptoms (“iVMS”) and post-traumatic stress disorder (“PTSD”); EDSIVO™ (celiprolol) for the treatment of vascular Ehlers-Danlos syndrome (“vEDS”) in patients with a confirmed type III collagen (COL3A1) mutation; and ACER-2820 (emetine), a host-directed therapy against a variety of viruses, including cytomegalovirus, Zika, dengue, Ebola, and COVID-19. Each of the Company’s product candidates is believed to present a comparatively de-risked profile, having one or more of a favorable safety profile, clinical proof-of-concept data, mechanistic differentiation, and/or accelerated pathways for development through specific programs and procedures established by the United States (“U.S.”) Food and Drug Administration (“FDA”). Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets, and raising capital. The Company has received revenue and collaboration funding related to the collaboration and license agreement (the “Collaboration Agreement”) with Relief Therapeutics Holding AG (“Relief”) as described below but has not generated any product revenue from sales to date and may never generate any product revenue from sales in the future. Liquidity The Company had an accumulated deficit of $131.4 million and cash and cash equivalents of $6.4 million as of September 30, 2022. Net cash used in operating activities was $22.0 million for the nine months ended September 30, 2022. On November 9, 2018, the Company entered into a sales agreement with Roth Capital Partners, LLC, and on March 18, 2020, an amended and restated sales agreement was entered into with JonesTrading Institutional Services LLC and Roth Capital Partners, LLC. The agreement provides a facility for the offer and sale of shares of common stock from time to time having an aggregate offering price of up to $50.0 million depending upon market demand, in transactions deemed to be an at-the-market (“ATM”) offering. The Company has no obligation to sell any shares of common stock pursuant to the agreement and may at any time suspend sales pursuant to the agreement. Each party may terminate the agreement at any time without liability. During the three months ended September 30, 2022, the Company sold 350,820 shares of common stock through its ATM facility at a gross sale price of $1.5223 per share, for proceeds of $0.5 million. During the nine months ended September 30, 2022, the Company sold 1,413,367 shares of common stock through its ATM facility at a gross sale price of $2.6872 per share, for gross proceeds of $3.8 million; proceeds, net of $0.1 million of fees and offering costs, were $3.7 million. As of September 30, 2022, $36.2 million remained available under the Company’s ATM facility, subject to various limitations. On April 30, 2020, the Company entered into an equity line purchase agreement and registration rights agreement pursuant to which Lincoln Park Capital Fund, LLC (“Lincoln Park”) has committed to purchase up to $15.0 million of the Company’s common stock. Under the terms and subject to the conditions of the purchase agreement, the Company has the right, but not the obligation, to sell to Lincoln Park, and Lincoln Park is obligated to purchase up to $15.0 million of the Company’s common stock, with $11.3 million obligation remaining as of September 30, 2022, subject to various limitations. Such sales of common stock by the Company will be subject to certain limitations, and may occur from time to time, at the Company’s sole discretion, over the 36-month period commencing on June 8, 2020. The number of shares the Company may sell to Lincoln Park on any single business day in a regular purchase is 50,000, but that amount may be increased up to 100,000 shares, depending upon the market price of the Company’s common stock at the time of sale and subject to a maximum limit of $1.0 million per regular purchase. The purchase price per share for each such regular purchase will be based on prevailing market prices of the Company’s common stock immediately preceding the time of sale as computed under the purchase agreement. In addition to regular purchases, the Company may also direct Lincoln Park to purchase other amounts as accelerated purchases or as additional accelerated purchases if the closing sale price of the common stock exceeds certain threshold prices as set forth in the purchase agreement. During the three months ended September 30, 2022, the Company sold 350,000 shares of common stock under its purchase agreement with Lincoln Park at a weighted average gross sale price of $1.39 per share, resulting in proceeds of $0.5 million. During the nine months ended September 30, 2022, the Company sold 650,000 shares of common stock under its purchase agreement with Lincoln Park at a weighted average gross sale price of $1.32 per share, resulting in proceeds of $0.9 million. On January 25, 2021, the Company entered into an option agreement (the “Option Agreement”) with Relief, pursuant to which the Company granted Relief an exclusive option (the “Exclusivity Option”) to pursue a potential collaboration and license arrangement with the Company for the development, regulatory approval and commercialization of ACER-001 for the treatment of various inborn errors of metabolism, including UCDs and MSUD. The Option Agreement provided a period of time up to June 30, 2021, for the parties to perform additional due diligence and to work toward negotiation and execution of a definitive agreement with respect to the potential collaboration for ACER‑001. In consideration for the grant of the Exclusivity Option, (i) the Company received from Relief an upfront nonrefundable payment of $1.0 million, (ii) Relief provided to the Company a 12-month secured loan in the principal amount of $4.0 million, as evidenced by a Promissory Note (the “Note”) the Company issued to Relief, and (iii) the Company granted Relief a security interest in all of its assets to secure performance of the Note, as evidenced by a Security Agreement (the “Security Agreement”). The Note was repayable in one lump sum within 12 months from issuance and bore interest at a rate equal to 6% per annum. If a definitive agreement with respect to the potential collaboration had not been executed by the parties on or before June 30, 2021, the Exclusivity Option would have terminated, and the Note would have been repayable by the Company upon maturity. On March 19, 2021, the Company entered into the Collaboration Agreement with Relief providing for the development and commercialization of ACER-001 for the treatment of various inborn errors of metabolism, including for the treatment of UCDs and MSUD. The Company received a $10.0 million cash payment from Relief (consisting of a $14.0 million “Reimbursement Payment” from Relief to the Company offset by payment of the $4.0 million outstanding balance of the Note plus interest earned through the date of the Collaboration Agreement) and Relief released its security interest in all of the Company’s assets pursuant to the Promissory Note. Under the terms of the Collaboration Agreement, Relief committed to pay the Company up to an additional $20.0 million for U.S. development and commercial launch costs for the UCDs and MSUD indications (the “Development Payments”). During the three months ended June 30, 2021, the Company received from Relief the $10.0 million First Development Payment. The Company was contractually entitled to receive from Relief an additional $10.0 million Second Development Payment conditioned upon the FDA’s acceptance of a New Drug Application (“NDA”) for ACER-001 in a UCD for filing and review. This acceptance was received on October 4, 2021. On October 6, 2021, the Company entered into a Waiver and Agreement with Relief to amend the timing for the Second Development Payment. The Company received the Second Development Payment in two $5.0 million tranches on each of October 12, 2021 and January 14, 2022. Further, the Company retained development and commercialization rights in the U.S., Canada, Brazil, Turkey, and Japan (“Acer Territory”). The companies will split net profits from the Acer Territory 60%:40% in favor of Relief. Relief licensed the rights for the rest of the world (“Relief Territory”), where the Company will receive from Relief a 15% royalty on all net sales received in the Relief Territory. The Company could also receive a total of $6.0 million in milestone payments based on the first European marketing approvals of ACER-001 for a UCD and MSUD. There is no guarantee that ACER-001 will receive regulatory authority approval in any territory or become commercially available for the indications under investigation. The terms of the Collaboration Agreement and Option Agreement are further described below in the Revenue Recognition and Accounting for Collaboration Agreements section of Note 2, Significant Accounting Policies. On March 4, 2022, the Company entered into a Credit Agreement (the “SWK Credit Agreement”) with the lenders party thereto and SWK Funding LLC (“SWK”), as the agent, sole lead arranger and sole bookrunner, which provided for a senior secured term loan facility in an aggregate amount of $6.5 million in a single borrowing (the “Bridge Loan”). The Bridge Loan funding closed on March 14, 2022. The proceeds of the Bridge Loan were used to pay fees, costs and expenses related to the SWK Credit Agreement, the Secured Convertible Note Purchase Agreement (as defined and described below) and the Marathon Credit Agreement (as defined and described below) and for other working capital and general corporate purposes. On August 19, 2022, the Company entered into an amendment (the “First Amendment”) to the SWK Credit Agreement, which extended the date through which the Company has the option to capitalize interest on the SWK Credit Agreement and which revised the Company’s minimum cash requirement under the Bridge Loan. The Bridge Loan bears interest at an annual rate of the sum of (i) 3-month LIBOR (or such other rate as may be agreed by the Company and SWK following the date on which 3-month LIBOR is no longer available), subject to a 1% floor, plus (ii) a margin of 11%, with such interest payable quarterly in arrears. In the event of default, the interest rate will increase by 3% per annum over the contract rate effective at the time of default but shall not be higher than the maximum rate permitted to be charged by applicable laws. The Company has the option to capitalize such interest commencing on the date on which the Bridge Loan was funded and continuing until February 15, 2023. Commencing on February 15, 2023, the principal amount of the Bridge Loan will amortize at a rate of $0.7 million, payable quarterly. The final maturity date of the Bridge Loan is March 4, 2024. The Company has the option to prepay the Bridge Loan in whole or in part. Upon the repayment of the Bridge Loan (whether voluntary or at scheduled maturity), the Company must pay an exit fee so that SWK receives an aggregate amount (inclusive of all principal, interest and origination and other fees paid to SWK under the SWK Credit Agreement on or prior to the prepayment date) equal to 1.5 of efficacy in the results from a completed Phase 2a trial; and (3) the Company shall have failed to enter into arrangements prior to December 31, 2022 involving rights to EDSIVO™ which result in at least a specified threshold of upfront or near-term payments to the Company. The Bridge Loan is secured by a first priority lien on all assets of the Company and any of its future subsidiaries pursuant to a Guarantee and Collateral Agreement entered into on March 4, 2022, between the Company and SWK, as agent (the “SWK Security Agreement”). The SWK Credit Agreement contains customary representations and warranties and affirmative and negative covenants. The Company paid to SWK $0.1 million in origination fees on the date on which the Bridge Loan was funded. In connection with the execution of the SWK Credit Agreement, the Company issued a warrant (the “First SWK Warrant”) to purchase 150,000 shares of the Company’s common stock at an exercise price of $2.46 per share. In connection with the execution of the First Amendment, the Company issued to SWK an additional warrant to purchase 100,000 shares of the Company’s common stock at an exercise price of $1.51 per share (such warrant, the "SWK Amendment Warrant" and, together with the First SWK Warrant, the "SWK Warrants"). SWK may exercise the SWK Warrants in accordance with the terms thereof for all or any part of such shares of common stock from the date on which the Bridge Loan was funded until and including March 4, 2029. On March 4, 2022, the Company also entered into a Secured Convertible Note Purchase Agreement with MAM Aardvark, LLC (“Marathon”) and Marathon Healthcare Finance Fund, L.P. (“Marathon Fund” and together with “Marathon” each a “Holder” and collectively the “Holders”) (the “Secured Convertible Note Purchase Agreement”) pursuant to which the Company issued and sold to the Holders secured convertible notes (the “Secured Convertible Notes”) in an aggregate amount of up to $6.0 million (the “Convertible Note Financing”). The Convertible Note Financing closed on March 14, 2022. The proceeds of the Convertible Note Financing are being used to pay fees, costs and expenses related to the SWK Credit Agreement, the Secured Convertible Note Purchase Agreement and the Marathon Credit Agreement and for other working capital and general corporate purposes. The Secured Convertible Notes bear interest at an annual rate of 6.5%, with such interest payable quarterly; provided, however, that until the first to occur of ACER-001 Approval and the repayment in full of the Bridge Loan, interest will not be payable in cash, but will accrue and be payable in cash upon the earlier of a) the repayment of all obligations under the Bridge Loan and termination of such Bridge Loan or b) within three business days of ACER-001 Approval. Subject to the restrictions set forth in an agreement among each of the Holders and SWK, as agent and lender, and any other intercreditor or subordination agreement entered into in connection with the Term Loan (defined below), each of the Holders has the right, during the 30-day periods beginning 12 months, 18 months and 24 months after the closing date of the Convertible Note Financing, to require the Company to redeem the Secured Convertible Note held by such Holder at a redemption price of the outstanding principal amount plus any accrued but unpaid interest. Each of the Holders also has the right to convert all or any portion of the outstanding principal amount plus any accrued but unpaid interest under the Secured Convertible Note held by such Holder into shares of common stock at a conversion price of $2.50 per share, subject to adjustment. Each Holder has certain rights with respect to the registration by the Company for resale of the shares of common stock issuable upon conversion of the Secured Convertible Note held by such Holder which are forth in the Secured Convertible Note Purchase Agreement. Any outstanding principal, together with all accrued and unpaid interest, will be payable on the earlier of the third anniversary of the date of issuance, or upon a change of control of the Company. Pursuant to the Secured Convertible Note Purchase Agreement, the Secured Convertible Notes are secured by a lien on collateral representing substantially all assets of the Company, although such security interest is subordinated to the Company’s obligations under the SWK Credit Agreement and may also be subordinated to the Company’s obligations under the Marathon Credit Agreement. On March 4, 2022, the Company also entered into a Credit Agreement (the “Marathon Credit Agreement”) with the lenders party thereto and Marathon, as the agent, sole lead arranger and sole bookrunner, which provides for a senior secured term loan facility in an aggregate amount of up to $42.5 million in a single borrowing (the “Term Loan”). The Term Loan will be available to be borrowed only following ACER-001 Approval and until December 31, 2022 (i.e., if ACER-001 Approval does not occur on or before December 31, 2022, then the Term Loan will not be available unless the Company is able to obtain an extension for the time period beyond December 31, 2022, to the actual PDUFA target action date), and funding of the Term Loan is also subject to the satisfaction of conditions as set forth in the Marathon Credit Agreement. Although the Company’s resubmitted NDA in respect of ACER-001 (sodium phenylbutyrate) for oral suspension for the treatment of patients with UCDs has been accepted for substantive review by the FDA, the Prescription Drug User Fee Act (“PDUFA”) target action date is January 15, 2023. The Term Loan, if it becomes available, will be used to refinance certain other indebtedness of the Company (including the Bridge Loan), to pay fees, costs and expenses related to the Marathon Credit Agreement and for other working capital and general corporate purposes. Should the Term Loan become available, the Company will pay Marathon a commitment fee equal to 1.5% of the Term Loan amount. The Marathon Credit Agreement also includes an accordion feature pursuant to which the Company, Marathon and the lenders under the Marathon Credit Agreement may agree to increase the Term Loan commitments by up to an additional $50.0 million dollars for a total commitment of $92.5 million; provided, however, that any such increase is within the sole discretion of each party (i.e., the Company cannot unilaterally trigger such an increase). The Term Loan w ould bear interest at an annual rate of 13.5 % and w ould be payable quarterly in arrears. The Company would have the option to capitalize up to 4 % of such interest commencing on the date on which the Term Loan is funded (the “Term Loan Funding Date”) and continuing until the third anniversary of the Term Loan Funding Date. Commencing on the third anniversary of the Term Loan Funding Date, the principal outstanding amount of the Term Loan w ould amortize at a rate of 2.78 %, payable monthly. The final maturity date of the Term Loan would be the earlier of six years after the Term Loan Funding Date or December 31, 2028 . The Company would have the option to prepay the Term Loan in whole or in part at any time, subject to a prepayment fee equal to (a) if the prepayment is made prior to March 4, 2025, then the g reater of 5 % or the amount of interest that would have accrued from the date of prepayment until March 4, 2025, (b) if the prepayment is made on or after March 4, 2025, but prior to March 4, 2026, then 3 %, (c) if the prepayment is made on or after March 4, 2026, but prior to March 4, 2027, then 2 %, or (d) if the prepayment is made on or after March 4, 2027, then 1 %. The Term Loan would be secured by a first priority lien on all assets of the Company and any of its future subsidiaries pursuant to a Guarantee and Collateral Agreement to be entered into on the Term Loan Funding Date between the Company and Marathon, as agent (the “Marathon Security Agreement”). The Marathon Credit Agreement contains customary representations and warranties and affirmative and negative covenants. The Company paid $0.2 million in commitment fees to Marathon in connection with obtaining the commitments in respect of the Term Loan and will pay $0.6 million in additional commitment fees to Marathon following ACER-001 Approval or any change of control of the Company or sale or transfer of the ACER-001 product. In connection with the Marathon Credit Agreement, on March 4, 2022, the Company, Marathon and the Marathon Fund also entered into a Synthetic Royalty Agreement (the “Royalty Agreement”) pursuant to which, in the event of the funding of the Term Loan, the Company will pay Marathon and the Marathon Fund, on a quarterly basis, 2% of certain aggregate commercial revenue from sales of ACER-001 during that quarter (i.e., 2% of the net sales and of the amount of certain other payments), subject to a cap on the aggregate amount of such payments of $15.0 million. Upon a change of control of the Company or the sale of the ACER-001 business to a third party, the Company would pay Marathon and the Marathon Fund the difference between $15.0 million and the aggregate amount of the payments previously made by the Company to Marathon and the Marathon Fund pursuant to the Royalty Agreement. The Nasdaq Capital Market’s continued listing standards for the Company’s common stock require, among other things, that the Company maintain either (i) stockholders’ equity of $2.5 million, (ii) market value of listed securities of $35 million or (iii) net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. On May 31, 2022, the Company received a letter from the listing qualifications department staff of Nasdaq indicating that for the last 30 consecutive business days the Company’s minimum Market Value of Listed Securities (“MVLS”) was below the $35 million required for continued listing on the Nasdaq Capital Market pursuant to Nasdaq listing rule 5550(b)(2). The Company’s stockholder’s equity and net income from continuing operations were also below the alternate listing standards levels at that time. In accordance with Nasdaq listing rules, the Company has 180 calendar days, or until November 28, 2022, to regain compliance. Management expects to continue to finance operations through the issuance of additional equity or debt securities, non-dilutive funding, and/or through strategic collaborations. Any transactions which occur may contain covenants that restrict the ability of management to operate the business and any securities issued may have rights, preferences, or privileges senior to the Company’s common stock and may dilute the ownership of current stockholders of the Company. The Company’s cash and cash equivalents available at September 30, 2022 are expected to be sufficient to fund its anticipated operating and capital requirements into, but not through, the fourth quarter of 2022. Going Concern The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the U.S. (“GAAP”), which contemplate continuation of the Company as a going concern. The Company has not established a source of commercial product revenues and, as such, has been dependent on funding operations through the sale of equity securities, through a collaboration agreement, and through debt instruments. Since inception, the Company has experienced significant losses and incurred negative cash flows from operations. The Company has spent, and expects to continue to spend, a substantial amount of funds in connection with implementing its business strategy, including its planned product development efforts and potential precommercial activities. As of September 30, 2022, the Company had cash and cash equivalents of $6.4 million and current liabilities of $20.8 million, which include $10.6 million associated with deferred collaboration funding (see Revenue Recognition and Accounting for Collaboration Agreements below in Note 2, Significant Accounting Policies). The Company’s cash and cash equivalents available at September 30, 2022 are expected to be sufficient to fund its anticipated operating and capital requirements into, but not through, the fourth quarter of 2022. The Company will need to raise additional capital in the fourth quarter of 2022 to fund continued operations because neither the FDA approval of ACER-001 nor subsequent product revenues are assured. The Company may not be successful in its efforts to raise additional funds or achieve profitable operations. The Company continues to explore potential opportunities and alternatives to obtain the additional resources that will be necessary to support its ongoing operations beyond the fourth quarter of 2022, including raising additional capital through either private or public equity or debt financing or additional program collaborations or non-dilutive funding, as well as using its ATM facility which has $36.2 million available as of September 30, 2022 and/or its remaining $11.3 million available under the equity line facility entered into on April 30, 2020 with Lincoln Park. (See At-the-Market Facility and Common Stock Purchase Agreement below in Note 9.) Due to the SEC’s “baby shelf rules,” which prohibit companies with a public float of less than $75 million from issuing securities under a shelf registration statement in excess of one-third of such company’s public float in a 12-month period, the Company is currently only able to issue a limited number of shares under its ATM facility which aggregate to no more than one-third of its public float. Additionally, there can be no assurance that the Company will be able to receive the entire obligation amount from Lincoln Park because the purchase agreement contains limitations, restrictions, requirements, events of default, and other provisions that could limit the Company’s ability to cause Lincoln Park to buy common stock from the Company. As noted above, the Company also has available to it the $42.5 million Term Loan conditional upon the approval of ACER-001 by the FDA; provided, however, that if ACER-001 Approval does not occur on or before December 31, 2022, then the Term Loan will not be available unless the Company is able to obtain an extension for the time period beyond December 31, 2022, to the actual PDUFA target action date. The PDUFA target action date for the Company’s resubmitted NDA in respect of ACER-001 (sodium phenylbutyrate) for oral suspension for the treatments of patients with UCDs is January 15, 2023. The Company has no commitments for any additional financing, except for the agreement with Lincoln Park, and the Marathon Credit Agreement for the Term Loan. Any amounts raised will be used for further development of its product candidates, precommercial activities, and for other working capital purposes. If the Company is unable to obtain additional funding to support its current or proposed activities and operations, it may not be able to continue its operations as currently anticipated, which may require it to suspend or terminate any ongoing development activities, modify its business plan, curtail various aspects of its operations, cease operations, or seek relief under applicable bankruptcy laws. In such event, the Company’s stockholders may lose a substantial portion or even all of their investment. These factors individually and collectively raise substantial doubt about the Company’s ability to continue as a going concern for at least 12 months from the date these financial statements are available, or November 14, 2023. The accompanying unaudited condensed financial statements do not include any adjustments or classifications that may result from the possible inability of the Company to continue as a going concern. Basis of Presentation The accompanying condensed financial statements are unaudited and have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Regulation S-X. The unaudited condensed financial statements have been prepared on the same basis as the audited annual financial statements and reflect, in the opinion of management, all adjustments of a normal and recurring nature that are necessary for the fair presentation of the Company’s financial position, results of operations, stockholders’ (deficit) equity and cash flows for the periods presented. The results of operations for the three and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any other future annual or interim period. The condensed balance sheet as of December 31, 2021, included herein, was derived from the audited financial statements as of that date but does not include all disclosures required by GAAP. These unaudited financial state Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”).

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	2. SIGNIFICANT ACCOUNTING POLICIES The Company’s significant accounting policies are described in Note 2, “Significant Accounting Policies,” in its Annual Report on Form 10-K for the year ended December 31, 2021. Use of Estimates The Company’s accounting principles require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of assets and liabilities at the date of the condensed financial statements and reported amounts of revenues and expenses during the reporting period. From time to time, estimates having relatively higher significance include determination of stand-alone selling price and variable consideration estimates for purposes of measuring collaboration funding, revenue recognition, deferred collaboration funding, stock-based compensation, inputs to fair value for debt, contract manufacturing and clinical trial accruals, and income taxes. Actual results could differ from those estimates and changes in estimates may occur. Revenue Recognition and Accounting for Collaboration Agreements The Company’s revenue and collaboration funding are generated from a single collaboration agreement which included the sale of a license of intellectual property. The Company analyzes its collaboration agreements to assess whether they are within the scope of ASC Topic 808, Collaborative Arrangements Revenue from Contracts with Customers The Company determines the units of account within the collaborative arrangement utilizing the guidance in ASC 606 to determine which promised goods or services are distinct. In order for a promised good or service to be considered “distinct” under ASC 606, the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct), and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract). For any units of account that fall within the scope of ASC 606, where the other party is a customer, the Company evaluates the separate performance obligation(s) under each contract, determines the transaction price, allocates the transaction price to each performance obligation considering the estimated stand-alone selling prices of the services and recognizes revenue upon the satisfaction of such obligations at a point in time or over time dependent on the satisfaction of one of the following criteria: (1) the customer simultaneously receives and consumes the economic benefits provided by the vendor’s performance; (2) the vendor creates or enhances an asset controlled by the customer; and (3) the vendor’s performance does not create an asset for which the vendor has an alternative use and the vendor has an enforceable right to payment for performance completed to date. Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Revenue for a sales-based or usage-based royalty promised in exchange for a license of intellectual property is recognized only when (or as) the later of the following events occurs: (i) the subsequent sale or usage occurs; or (ii) the performance obligation to which some or all of the sales-based or usage-based royalty has been allocated has been satisfied (or partially satisfied). On January 25, 2021, the Company entered into the Option Agreement with Relief pursuant to which the Company granted Relief the Exclusivity Option to pursue a potential collaboration and license arrangement with the Company for the development, regulatory approval and commercialization of ACER-001 for the treatment of various inborn errors of metabolism, including UCDs and MSUD. The Option Agreement provided a period of time up to June 30, 2021 for the parties to perform additional due diligence and to work toward negotiation and execution of a definitive agreement with respect to the potential collaboration for ACER‑001. In consideration for the grant of the Exclusivity Option, (i) the Company received from Relief an upfront nonrefundable payment of $1.0 million, (ii) Relief provided to the Company a 12-month secured loan in the principal amount of $4.0 million, as evidenced by the Note issued by the Company to Relief, and (iii) the Company granted to Relief a security interest in all of its assets to secure performance of the Note, as evidenced by the Security Agreement. The Note was repayable in one lump sum within 12 months from issuance and bore interest at a rate equal to 6% per annum. If a definitive agreement with respect to the potential collaboration had not been executed by the parties on or before June 30, 2021, the Exclusivity Option would have terminated and the Note would have been repayable by the Company upon maturity. On March 19, 2021, the Company entered into the Collaboration Agreement with Relief providing for the development and commercialization of ACER-001 for the treatment of various inborn errors of metabolism, including for the treatment of UCDs and MSUD. The Company received a $10.0 million cash payment from Relief (consisting of a $14.0 million “Reimbursement Payment” from Relief to the Company offset by repayment of the $4.0 million outstanding balance of the Note, plus interest earned through the date of the Collaboration Agreement), and Relief released its security interest in all of the Company’s assets pursuant to the Promissory Note. Under the terms of the Collaboration Agreement, Relief committed to pay the Company up to an additional $20.0 million for U.S. development and commercial launch costs for the UCDs and MSUD indications. During the three months ended June 30, 2021, the Company received from Relief the $10.0 million First Development Payment. The Company was contractually entitled to receive from Relief an additional $10.0 million Second Development Payment conditioned upon the FDA’s acceptance of an NDA for ACER-001 in a UCD for filing and review. This acceptance was received on October 4, 2021. On October 6, 2021, the Company entered into a Waiver and Agreement with Relief to amend the timing for the Second Development Payment. The Company received the Second Development Payment in two $5.0 million tranches on each of October 12, 2021 and January 14, 2022. Further, the Company retained development and commercialization rights in the U.S., Canada, Brazil, Turkey and Japan (“Acer Territory”). The companies will split net profits from the Acer Territory 60%:40% in favor of Relief. Relief licensed the rights for the rest of the world (“Relief Territory”), where the Company will receive from Relief a 15% royalty on all net sales received in the Relief Territory. The Company could also receive a total of $6.0 million in milestone payments based on the first European (EU) marketing approvals for a UCD and MSUD. There is no guarantee that ACER-001 will receive regulatory authority approval in any territory or become commercially available for the indications under investigation. The Company assessed these agreements in accordance with the authoritative literature and concluded that they meet the definition of a collaborative arrangement per ASC 808. For certain parts of the Collaboration Agreement, the Company concluded that Relief represented a customer while, for other parts of the Collaboration Agreement, Relief did not represent a customer. The units of account of the Collaboration Agreement where Relief does not represent a customer are outside of the scope of ASC 606. The Company also determined that the development and commercialization services and Relief’s right to 60% profit in the Acer Territory is within the scope of ASC 730, with regard to funded research and development arrangements. The Company concluded the promised goods and services contained in the Collaboration Agreement, represented two distinct units of account consisting of a license in the Relief Territory, and a combined promise for the development and commercialization of ACER-001 in the Acer Territory and the payment of 60% net profit from that territory (together, the “Services”). The stand-alone selling price was estimated for each distinct unit of account utilizing an estimate of discounted cashflows associated with each. The Company determined that the transaction price at the outset of the Collaboration Agreement was $25.0 million, including the Option Fee of $1.0 million, the Reimbursement Payment of $14.0 million, and the First Development Payment of $10.0 million. The Company concluded that consistent with the evaluation of variable consideration, using the most likely amount approach, the Second Development Payment as well as the milestone payments for EU marketing approvals, should be fully constrained until the contingency associated with each payment has been resolved and the Company’s NDA is accepted for review by the FDA, and Relief receives EU marketing approval, respectively. Since ASC 808 does not provide recognition and measurement guidance for collaborative arrangements, the Company applied the principles of ASC 606 for those units of account where Relief is a customer and ASC 730-20 for the funded research and development activities. The license revenue was recognized at the point where the Company determined control was transferred to the customer. The combined unit of account for the Services associated with the allocation of the initial transaction price will be recognized over the service period through the anticipated date of first commercial sale of the ACER-001 approved product in the U.S. The Company also determined that the Services associated with the allocation of the initial transaction price would be satisfied over time as measured using actual costs as incurred by the Company toward the identified development and commercialization services agreed to between the parties up to the point of first commercial sale of the ACER-001 product. Research and development expenses and general and administrative expenses, as they relate to activities governed by the Collaboration Agreement, incurred in satisfying the Services unit-of-account will be recognized as contra-expense within their respective categories, consistent with the presentation guidance in ASC Topic 730, Research and Development The Company recognizes a receivable under the Collaboration Agreement when the consideration to be received is deemed unconditional, or when only the passage of time is required before payment of that consideration is due. Amounts receivable under the Collaboration Agreement plus payments received from Relief, net of the amounts recorded as license revenue and as offsets to research and development expenses and to general and administrative expenses, are reported as deferred collaboration funding. At September 30, 2022, the amount of deferred collaboration funding associated with unsatisfied promises under the Collaboration Agreement amounted to $10.6 million. The Company has recorded $10.6 million as a current liability, which equates to the Company’s estimate of remaining spending under the Collaboration Agreement and which the Company estimates will be recognized within the next 12 months up to the point of the first commercial sale of ACER-001. The non-current liability reported as of December 31, 2021 represented the then current estimated amount that would have been taken against future net profit payments made to Relief should they have occurred. The Company expects to recognize this deferred collaboration funding as it incurs expenses associated with performing the Services up to the date of first commercial sale in the Acer Territory and through the end of the effective date of the Collaboration Agreement. At September 30, 2022, deferred collaboration funding was composed of $35.0 million received from Relief, offset by $1.3 million recognized as license revenue during the year ended December 31, 2021 and $12.9 million recorded as an offset to research and development expenses and $10.3 million recorded as an offset to general and administrative expenses subsequent to signing the Collaboration Agreement and through the date of this report. Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At September 30, 2022 and December 31, 2021, the Company had $6.1 million and $12.5 million, respectively, in excess of the FDIC insured limit. Under the Bridge Loan as amended, the Company’s minimum cash requirement is such that its consolidated unencumbered liquid assets must not be less than the lesser of (a) the outstanding principal amount of the Bridge Loan, or (b) $1.5 million; provided, that such $1.5 million amount automatically increases to (i) $4.0 million 20 days following a Liquidity Trigger Date, if any, and (ii) $6.5 million 40 days following a Liquidity Trigger Date, if any, with “Liquidity Trigger Date” meaning the date, if any, on which each of the following conditions exists: (1) the Company has received a second Complete Response Letter from the FDA in relation to ACER-001; (2) the Company’s Board of Directors has determined that discontinuation of the development program for ACER-801 is warranted based upon a serious adverse event or a lack of efficacy in the results from a completed Phase 2a trial; and (3) the Company shall have failed to enter into arrangements prior to December 31, 2022 involving rights to EDSIVO™ which result in at least a specified threshold of upfront or near-term payments to the Company. The Company recognized a $4.0 million non-cash reduction in a secured loan from Relief during the nine months ended September 30, 2021, since the Reimbursement Payment from Relief was received net of the amount of principal and interest due in connection with the secured loan. Fair Value of Financial Instruments ASC Topic 820, Fair Value Measurement ASC 820 identifies fair value as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a three-tier fair value hierarchy that distinguishes among the following: • Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2—Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and models for which all significant inputs are observable, either directly or indirectly. • Level 3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Financial instruments consist of cash equivalents , collaboration receivable, accounts payable, accrued expenses, and debt instruments. These financial instruments are stated at their respective historical carrying amounts, which approximate fair value due to their short-term nature, except for cash equivalents and debt instruments, which were marked to market at the end of each reporting period. See Note 7 for additional information on the fair value of the debt liabilities. The Company elected the fair value option for both its Bridge Loan and its Secured Convertible Notes dated March 14, 2022 (see Note 7). The Company adjusts both the Bridge Loan and the Secured Convertible Notes to fair value through the change in fair value of debt in the accompanying unaudited condensed statements of operations. Subsequent unrealized gains and losses on items for which the fair value option is elected are reported in the accompanying unaudited condensed statement of operations. Debt Convertible notes are regarded as compound instruments, consisting of a liability component and an equity component. The Company determined that it is eligible for the fair value option election in connection with the Bridge Loan and the Secured Convertible Notes. Each instrument met the definition of a “recognized financial liability” which is an acceptable financial instrument eligible for the fair value option under ASC 825-10-15-4 and do not meet the definition of any of the financial instruments found within ASC 825-10-15-5 that are not eligible for the fair value option Research and Development Expenses Research and development costs are expensed as incurred and include compensation and related benefits, license fees and third-party contracted research and manufacturing consultants. The Company sometimes makes nonrefundable advance payments for goods and services that will be used in future research and development activities. These payments are capitalized and recorded as an expense in the period that the goods are received or that the services are performed. From time to time, in connection with the Collaboration Agreement with Relief, the Company may recognize “contra-expense” for the research and development activities which were funded by the Collaboration Agreement. These contra-expense amounts are disclosed parenthetically on the face of the financial statements. General and Administrative Expenses General and administrative expenses consist primarily of employee-related expenses, including salaries, benefits, and stock-based compensation; precommercial costs; and professional fees for legal, business consulting, auditing, and tax services. The Company expects that general and administrative expenses will be substantial in the future. From time to time, in connection with the Collaboration Agreement with Relief, the Company may recognize “contra-expense” for the general and administrative activities which were funded by the Collaboration Agreement. These contra-expense amounts are disclosed parenthetically on the face of the financial statements. Clinical Trial and Preclinical Study Expenses The Company makes estimates of prepaid and/or accrued expenses as of each balance sheet date in its financial statements based on certain facts and circumstances at that time. The Company’s accrued expenses for preclinical studies and clinical trials are based on estimates of costs incurred for services provided by contract research organizations (“CROs”), manufacturing organizations, and for other trial- and study-related activities. Payments under the Company’s agreements with external service providers depend on a number of factors such as site initiation, patient screening, enrollment, delivery of reports, and other events. In accruing for these activities, the Company obtains information from various sources and estimates the level of effort or expense allocated to each period. Adjustments to research and development expenses may be necessary in future periods as the Company’s estimates change. As these activities are generally material to the Company’s financial statements, subsequent changes in estimates may result in a material change in the Company’s accruals. No material changes in estimates were recognized in either of the three or nine months ended September 30, 2022 or 2021. Accounts payable and accrued expenses include costs associated with preclinical or clinical studies of $1.0 million and $0.2 million at September 30, 2022 and December 31, 2021, respectively. Stock-Based Compensation The Company records stock-based payments at fair value. The measurement date for compensation expense related to awards is generally the date of the grant. The fair value of awards is recognized as an expense in the condensed statements of operations over the requisite service period, which is generally the vesting period. The fair value of options is calculated using the Black-Scholes option pricing model. A limited number of option grants are periodically made to non-employee contractors, and the Company utilizes the simplified method to value these awards. This option valuation model requires the use of assumptions including, among others, the volatility of stock price, the expected term of the option, and the risk-free interest rate. The following assumptions were used to estimate the fair value of stock options granted during the nine months ended September 30, 2022 and 2021 using the Black-Scholes option pricing model: 2022 2021 Risk-free interest rate 1.18%-2.95% 0.37%- 0.84% Expected life (years) 6.25 6.25 Expected volatility 112.0% - 115.0% 92.4% Dividend rate 0% 0% Due to its limited operating history and a limited trading history of its common stock in relation to the life of its standard option grants, the Company estimates the volatility of its stock in consideration of a number of factors including the Company’s available stock price history and the stock price volatility of comparable public companies. The expected term of a stock option granted to employees and directors (including non-employee directors) is based on the average of the contractual term (generally ten years) and the vesting period. The assumed dividend yield is based upon the Company’s expectation of not paying dividends in the foreseeable future. The Company recognizes forfeitures related to employee stock-based awards as they occur. The risk-free rate for periods within the expected life of the option is based upon the U.S. Treasury yield curve in effect at the time of grant. Option awards are granted at an exercise price equal to the closing market price of the Company’s common stock on the Nasdaq Capital Market on the date of grant. Goodwill Goodwill represents the excess of the purchase price (consideration paid plus net liabilities assumed) of an acquired business over the fair value of the underlying net tangible and intangible assets. The Company’s goodwill is allocated to the Company’s single reporting unit. The Company evaluates the recoverability of goodwill according to ASC Topic 350, Intangibles – Goodwill and Other Foreign Currency Transaction Gain/(Loss) Gains and losses arising from transactions and revaluation of balances denominated in currencies other than U.S. dollars are recorded in foreign currency transaction gain/(loss) on the statements of operations. Income Taxes The Company recorded no income tax expense or benefit during the three or nine months ended September 30, 2022 and 2021, due to a full valuation allowance recognized against its net deferred tax assets. A valuation allowance is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Accordingly, the Company provides a valuation allowance, if necessary, to reduce deferred tax assets to amounts that are realizable. Utilization of net operating losses may be subject to substantial annual limitations due to the “change in ownership” provisions of the Internal Revenue Code of 1986, and similar state provisions. The annual limitations may result in the expiration of net operating losses before utilization. The tax positions taken or expected to be taken in the course of preparing the Company’s tax returns are required to be evaluated to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet a more-likely-than-not threshold would be recorded as a tax expense in the current year. There were no uncertain tax positions that require accrual or disclosure in the financial statements as of September 30, 2022 and 2021 . The Company’s policy is to recognize interest and penalties related to income tax, if any, in income tax expense. As of September 30, 2022 and 2021 , the Company had no accruals for interest or penalties related to income tax matters. The Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was enacted in the U.S. on March 27, 2020 . The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. The Company is required to recognize the effects of tax law changes in the period of enactment. The enactment of the CARES Act did not result in material adjustments for the income tax provision for the three or nine months ended or to the Company’s assessment of the realizability of deferred tax assets as the carry back of net operating losses was used as a source of income. There were no other effects to the Company’s tax provision as a result of the CARES Act as of September 30, 2022. Basic and Diluted Net Loss per Common Share Basic and diluted net loss per common share is computed using the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed using the sum of the weighted average number of common shares outstanding during the period and, in those instances where it would be dilutive, the weighted average number of potential shares of common stock, including the assumed exercise of stock options and warrants, the impact of unvested restricted stock, and the potential shares assuming conversion of convertible debt. Basic and diluted shares outstanding are the same for each period presented when all common stock equivalents, including potential shares from convertible debt and warrants, would be antidilutive due to the net losses incurred, except in certain instances as noted below. The two-class method is an earnings allocation formula that treats a participating security, such as a warrant, as having rights to earnings that otherwise would have been available to common stockholders. However, the two-class method does not impact the net loss per share of common stock as the Company has been in a net loss position and while our warrants are considered a participating security, the terms of the warrant agreement does not obligate them to participate in losses. Diluted net income per share is computed using the more dilutive of (a) the two-class method or (b) the if-converted method or treasury stock method, as applicable, to the potentially dilutive instruments. A contract that may be settled in shares and is reported as an asset or liability for accounting purposes may require an adjustment to the numerator for any changes in income or loss that would result if the contract had been reported as an equity instrument for accounting purposes during the period, and doing so is dilutive to the net loss per share calculation (including as a result of the inclusion of underlying shares in the net loss per share calculation). Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) The Company early adopted ASU No. 2020-06 in the first quarter of 2021. See Note 6 regarding the Secured Convertible Notes which were recognized in the first quarter of 2022 consistent with the adoption of this guidance. In May 2021, the FASB issued ASU No. 2021-04 , Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force), which clarifies and reduces diversity in issuers’ accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. The Company adopted ASU No. 2021-04 in the first quarter of 2022. There was no impact on the Company’s financial statements or disclosures as a result of the adoption of this guidance. In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2022
Property Plant And Equipment [Abstract]
Property and Equipment	3. PROPERTY AND EQUIPMENT Property and equipment consisted of the following at September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Computer hardware and software $ 142,870 $ 113,847 Leasehold improvements 52,887 60,535 Furniture and fixtures 111,603 145,487 Subtotal property and equipment, gross 307,360 319,869 Less accumulated depreciation (214,858 ) (205,757 ) Property and equipment, net $ 92,502 $ 114,112

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2022
Accounts Payable And Accrued Liabilities Current [Abstract]
Accrued Expenses	4. ACCRUED EXPENSES Accrued expenses consisted of the following at September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Accrued payroll and payroll taxes $ 2,552,744 $ 419,354 Accrued contract manufacturing 368,180 827,390 Accrued contract research and regulatory consulting 312,197 47,637 Accrued precommercial costs 236,569 395,923 Accrued accounting, audit, and tax fees 159,292 167,630 Accrued legal 91,574 162,812 Accrued license fees 74,125 86,259 Accrued miscellaneous expenses 39,204 216,103 Accrued consulting 24,850 105,085 Total accrued expenses $ 3,858,735 $ 2,428,193

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	5. LEASES On March 6, 2018, the Company entered into a lease agreement (the “Newton Lease”), commencing on October 1, 2018, for certain premises which consist of 2,760 square feet of office space located in Newton, Massachusetts. On March 5, 2019, the Company entered into a modified lease agreement (the “Additional Newton Lease”) to lease an additional 1,600 square feet of office space, commencing on June 1, 2019, located in Newton, Massachusetts. The Newton Lease expires on May 31, 2022. On October 15, 2021, the Company entered into a lease amendment extending the Additional Newton Lease through December 31, 2022. Effective with the expiration of the Newton Lease and the extension of the Newton Additional Lease, the space leased by the Company in Newton was reduced to 1,600 square feet as of June 1, 2022. The Company is required to share in certain taxes and operating expenses associated with the Newton Lease and the Additional Newton Lease. The Company entered into a triple net lease (the “Bend Lease”) effective April 1, 2018 for certain premises consisting of 2,288 square feet of office space located in Bend, Oregon. On April 23, 2019, the Company entered into a modified lease agreement (the “Additional Bend Lease”) to lease an additional 1,389 square feet of office space, commencing on May 1, 2019, located in Bend, Oregon. On November 17, 2021, the Company entered into a lease agreement to extend the term of the Bend Lease and the Additional Bend Lease to June 30, 2022 and to further extend the term either (1) until June 30, 2027 if FDA approval of ACER-001 was received in June 2022, or (2) until June 30, 2025 if FDA approval of ACER-001 was not received in June 2022. As FDA approval of ACER-001 was not received in June 2022, the Company entered into a lease amendment in June 2022 such that the renewal term for this office space was extended until June 30, 2025. The leases for the Newton and Bend office space are classified as operating leases. The leases contain immaterial provisions for rent holidays and rent escalations over the term of the leases, which have been included in the Company’s right of use asset and lease liabilities. In the year ended December 31, 2021, the Company recorded a non-cash transaction to recognize an additional $0.4 million right of use asset and lease liability in conjunction with the modifications to the leases. The Company’s lease liability as of September 30, 2022 and December 31, 2021 represents the net present value of future lease payments utilizing discount rates of 8% to 10%, which correspond to the Company’s incremental borrowing rates as of the effective dates of the leases. As of September 30, 2022, the weighted average remaining lease term was 2.6 years. The Company recorded expense of $44 thousand and $0.1 million related to the leases for the three months ended September 30, 2022 and 2021, respectively, and recorded expense of $0.2 million related to the leases for each of the nine months ended September 30, 2022 and 2021. The Company made cash payments for amounts included in the measurement of lease liabilities of $27 thousand and $0.1 million during the three months ended September 30, 2022 and 2021, respectively, and of $0.2 million for each of the nine months ended September 30, 2022 and 2021. The Company reported a right-of-use asset of $0.3 million in Other non-current assets and lease liabilities totaling $0.3 million in Other current liabilities and Other non-current liabilities as of September 30, 2022. The following table reconciles the undiscounted lease liabilities to the total lease liabilities recognized on the unaudited condensed balance sheet as of September 30, 2022: Undiscounted lease liabilities for years ending December 31,: 2022 (remaining) $ 41,387 2023 103,925 2024 107,290 2025 54,579 Total undiscounted lease liabilities 307,181 Less effects of discounting (21,464 ) Total lease liabilities as of September 30, 2022 $ 285,717 The Company’s lease liabilities are reported on the unaudited condensed balance sheets as follows: September 30, 2022 December 31, 2021 Other current liabilities $ 118,396 $ 184,340 Other non-current liabilities 167,321 209,497 Total lease liabilities $ 285,717 $ 393,837

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	6. DEBT SWK Credit Agreement On March 4, 2022, the Company entered into the SWK Credit Agreement with the lenders party thereto and SWK, as the agent, sole lead arranger and sole bookrunner, which provides for a senior secured term loan facility in an aggregate amount of $6.5 million in a single borrowing (the “Bridge Loan”). The Bridge Loan closed on March 14, 2022, after consummation of the Convertible Note Financing (as defined and described below) as well as the satisfaction of other closing conditions as set forth in the SWK Credit Agreement. The proceeds of the Bridge Loan are being used to pay fees, costs and expenses related to the SWK Credit Agreement, the Secured Convertible Note Purchase Agreement (as defined and described below) and the Marathon Credit Agreement (as defined and described below) and for other working capital and general corporate purposes. On August 19, 2022, the Company entered into an amendment (the “First Amendment”) to the SWK Credit Agreement, which extended the date through which the Company has the option to capitalize interest on the SWK Credit Agreement and which revised the Company’s minimum cash requirement under the Bridge Loan. The Bridge Loan bears interest at an annual rate of the sum of (i) 1.5 times and all paid-in-kind interest amounts . The Bridge Loan contains a provision for the establishment of an alternative rate of interest if LIBOR were to no longer be available at any point while the Bridge Loan is outstanding. Under the Bridge Loan as amended, the Company’s minimum cash requirement is such that its consolidated unencumbered liquid assets must not be less than the lesser of (a) the outstanding principal amount of the Bridge Loan, or (b) $ 1.5 million; provided, that such $ 1.5 million amount automatically increases to (i) $ 4.0 million 20 days following a Liquidity Trigger Date, if any, and (ii) $ 6.5 million 40 days following a Liquidity Trigger Date, if any, with “Liquidity Trigger Date” meaning the date, if any, on which each of the following conditions exists: (1) the Company has received a second Complete Response Letter from the FDA in relation to ACER-001; (2) the Company’s Board of Directors has determined that discontinuation of the development program for ACER-801 is warranted based upon a serious adverse event or a lack of efficacy in the results from a completed Phase 2a trial; and (3) the Company shall have failed to enter into arrangements prior to December 31, 2022 involving rights to EDSIVO™ which result in at least a specified threshold of upfront or near-term payments to the Company . The Bridge Loan is secured by a first priority lien on all assets of the Company and any of its future subsidiaries pursuant to the SWK Security Agreement. The SWK Credit Agreement contains customary representations and warranties and affirmative and negative covenants. The Company paid to SWK $0.1 million in origination fees on the date on which the Bridge Loan was funded. The Bridge Loan contains certain provisions which could accelerate the maturity date of the outstanding loan should the Company be out of compliance with any of the stated covenants. At September 30, 2022, the Company did not deem probable any events that would give rise to such an acceleration. The Company classified the fair value of the interest and principal amortization payments of $1.5 million due within twelve months from the date of this report as current in the unaudited condensed balance sheet as of September 30, 2022. In connection with the execution of the SWK Credit Agreement, the Company issued a warrant (the “First SWK Warrant”) to purchase 150,000 shares of the Company’s common stock at an exercise price of $2.46 per share. In connection with the execution of the First Amendment, the Company issued to SWK an additional warrant to purchase 100,000 shares of the Company’s common stock at an exercise price of $1.51 per share (such warrant, the "SWK Amendment Warrant" and, together with the First SWK Warrant, the "SWK Warrants"). SWK may exercise the SWK Warrants in accordance with the terms thereof for all or any part of such shares of common stock from the date on which the Bridge Loan was funded until and including March 4, 2029. The Company recognized the fair value of the First SWK Warrant for $0.3 million as additional paid in capital as of the date of the closing of the transaction. Additionally, the Company recognized the fair value of the SWK Amendment Warrant in connection with the First Amendment, for $0.1 million as additional paid in capital and as non-operating cost of debt issuance, as of the date of the First Amendment. The Company evaluated its compliance with all covenants with respect to the SWK Credit Agreement as amended and concluded that it was in compliance as of September 30, 2022. Secured Convertible Notes On March 4, 2022, the Company also entered into the Secured Convertible Note Purchase Agreement with MAM Aardvark, LLC (“Marathon”) and Marathon Healthcare Finance Fund, L.P. (“Marathon Fund” and together with “Marathon” each a “Holder” and collectively the “Holders”) pursuant to which the Company issued and sold to the Holders the Secured Convertible Notes in an aggregate amount of $6.0 million (the “Convertible Note Financing”). The Convertible Note Financing closed on March 14, 2022 after satisfaction of closing conditions as set forth in the Secured Convertible Note Purchase Agreement. The proceeds of the Convertible Note Financing are being used to pay fees, costs and expenses related to the SWK Credit Agreement, the Secured Convertible Note Purchase Agreement and the Marathon Credit Agreement and for other working capital and general corporate purposes. The Secured Convertible Notes bear interest at an annual rate of 6.5%, with such interest payable quarterly; provided, however, that until the first to occur of ACER-001 Approval and the repayment in full of the Bridge Loan, interest will not be payable in cash, but will accrue and be payable in cash upon the earlier of a) the repayment of all obligations under the Bridge Loan and termination of such Bridge Loan or b) within three business days of ACER-001 Approval. Subject to the restrictions set forth in an agreement among each of the Holders and SWK, as agent and lender, and any other intercreditor or subordination agreement entered into in connection with the Term Loan (defined below), each of the Holders has the right, during the 30-day periods beginning 12 months, 18 months and 24 months after the closing date of the Convertible Note Financing, to require the Company to redeem the Convertible Secured Note held by such Holder at a redemption price of the outstanding principal amount plus any accrued but unpaid interest. In the event of default, interest on the Secured Convertible Notes will increase to the lower of 11.5% per annum or the highest rate permitted by law. Each of the Holders also has the right to convert all or any portion of the outstanding principal amount plus any accrued but unpaid interest under the Secured Convertible Note held by such Holder into shares of common stock at a conversion price of $2.50 per share, subject to adjustment. Each Holder has certain rights with respect to the registration by the Company for resale of the shares of common stock issuable upon conversion of the Secured Convertible Note held by such Holder which are forth in the Secured Convertible Note Purchase Agreement. Any outstanding principal, together with all accrued and unpaid interest, will be payable on the earlier of the third anniversary of the date of issuance, or upon a change of control of the Company. Pursuant to the Secured Convertible Note Purchase Agreement, the Secured Convertible Notes are secured by a lien on collateral representing substantially all assets of the Company, although such security interest is subordinated to the Company’s obligations under the SWK Credit Agreement and may also be subordinated to the Company’s obligations under the Marathon Credit Agreement. The Company evaluated its compliance with all covenants with respect to the Secured Convertible Note Purchase Agreement and concluded that it was in compliance as of September 30, 2022. Marathon Credit Agreement On March 4, 2022, the Company also entered into the Marathon Credit Agreement with the lenders party thereto and Marathon, as the agent, sole lead arranger and sole bookrunner, which provides for a senior secured term loan facility in an aggregate amount of up to $42.5 million in a single borrowing (the “Term Loan”). The Term Loan will be available to be borrowed only following ACER-001 Approval and until December 31, 2022 (i.e., if ACER-001 Approval does not occur on or before December 31, 2022, then the Term Loan will not be available unless the Company is able to obtain an extension for the time period beyond December 31, 2022, to the actual PDUFA target action date), and funding of the Term Loan is also subject to the satisfaction of conditions as set forth in the Marathon Credit Agreement. Although the Company’s resubmitted NDA in respect of ACER-001 (sodium phenylbutyrate) for oral suspension for the treatment of patients with UCDs has been accepted for substantive review by the FDA, the PDUFA target action date is January 15, 2023. The Term Loan, if it becomes available, will be used to refinance certain other indebtedness of the Company (including the Bridge Loan), to pay fees, costs and expenses related to the Marathon Credit Agreement and for other working capital and general corporate purposes. Should the Term Loan become available, the Company will pay Marathon a commitment fee equal to 1.5% of the term loan amount. The Marathon Credit Agreement also includes an accordion feature pursuant to which the Company, Marathon and the lenders under the Marathon Credit Agreement may agree to increase the Term Loan commitments by up to an additional $50.0 million dollars for a total commitment of $92.5 million; provided, however, that any such increase is within the sole discretion of each party (i.e., the Company cannot unilaterally trigger such an increase). The Term Loan would bear interest at an annual rate of 13.5% and would be payable quarterly in arrears. The Company would have the option to capitalize up to 4% of such interest commencing on the Term Loan Funding Date and continuing until the third anniversary of the Term Loan Funding Date. Commencing on the third anniversary of the Term Loan Funding Date, the principal outstanding amount of the Term Loan would amortize at a rate of 2.78%, payable monthly. The final maturity date of the Term Loan would be the earlier of six years after the Term Loan Funding Date or December 31, 2028. The Company would have the option to prepay the Term Loan in whole or in part at any time, subject to a prepayment fee equal to (a) if the prepayment is made prior to March 4, 2025, then the greater of 5% or the amount of interest that would have accrued from the date of prepayment until March 4, 2025, (b) if the prepayment is made on or after March 4, 2025, but prior to March 4, 2026, then 3%, (c) if the prepayment is made on or after March 4, 2026, but prior to March 4, 2027, then 2%, or (d) if the prepayment is made on or after March 4, 2027, then 1%. The Term Loan would be secured by a first priority lien on all assets of the Company and any of its future subsidiaries pursuant to a Guarantee and Collateral Agreement to be entered into on the Term Loan Funding Date between the Company and Marathon, as agent (the “Marathon Security Agreement”). The Marathon Credit Agreement contains customary representations and warranties and affirmative and negative covenants. The Company paid $0.2 million in commitment fees to Marathon in connection with obtaining the commitments in respect of the Term Loan and will pay $0.6 million in additional commitment fees to Marathon following ACER-001 Approval or any change of control of the Company or sale or transfer of the ACER-001 product. In connection with the Marathon Credit Agreement, on March 4, 2022, the Company, Marathon and the Marathon Fund also entered into the Royalty Agreement pursuant to which, in the event of the funding of the Term Loan, the Company will pay Marathon and the Marathon Fund, on a quarterly basis, 2% of certain aggregate commercial revenue from sales of ACER-001 during that quarter (i.e., 2% of the net sales and of the amount of certain other payments), subject to a cap on the aggregate amount of such payments of $15.0 million. Upon a change of control of the Company or the sale of the ACER-001 business to a third party, the Company would pay Marathon and the Marathon Fund the difference between $15.0 million and the aggregate amount of the payments previously made by the Company to Marathon and the Marathon Fund pursuant to the Royalty Agreement. As of September 30, 2022, the Company had not triggered the conditions in order to draw on the Term Loan, and as such had not triggered the associated Royalty Agreement. T he Company engaged an exclusive financial advisor with respect to the financings contemplated by the SWK Credit Agreement, the Secured Convertible Note Purchase Agreement and the Marathon Credit Agreement. In connection with the funding of the Bridge Loan and the Convertible Note Financing, the Company paid its financial advisor a fee of $0.5 million for its services. In connection with a funding of the Term Loan, the Company expects to pay the same financial advisor an additional fee of approximately $0.7 million for its services. The Company is eligible to elect the fair value option under ASC 815 and bypass analysis of potential embedded derivatives and further analysis of bifurcation of any such financial instruments and has elected such option. The Company recognized the First SWK Warrant at fair value as of the date of the close of the transaction and recorded it in equity. The Bridge Loan and Secured Convertible Notes met the definition of a “recognized financial liability” which is an acceptable financial instrument eligible for the fair value option under ASC 825-10-15-4 and do not meet the definition of any of the financial instruments found within ASC 825-10-15-5 that are not eligible for the fair value option. Therefore, both the Bridge Loan and Secured Convertible Notes are recorded at their fair value upon issuance and subsequently re-measured at each reporting period until their maturity, prepayment or conversion. Additionally, all issuance costs incurred in connection with a debt instrument that is measured at fair value pursuant to the election of the fair value option are expensed during the period the debt is acquired. The Bridge Loan was recorded at fair value of $6.2 million after allocating the fair value of the First SWK Warrant of $0.3 million. The Company incurred $1.2 million of debt issuance costs, which were expensed as incurred due to the election of the fair value option and were included in interest expense in the accompanying unaudited condensed statement of operations for the nine months ended September 30, 2022. Debt issuance costs were comprised of $0.5 million that related to the costs and expense paid directly to SWK and the Holders, $0.7 million of costs and expenses paid to the Company’s financial advisor, and other legal and accounting costs. The fee of $0.2 million paid in connection with obtaining the commitments in respect of the Term Loan was paid to Marathon through gross proceeds received from the Secured Convertible Notes. The Company recorded this fee as expense during the nine months ended September 30, 2022.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	7. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. At each reporting period, the Company reviews the assets and liabilities that are subject to ASC 815-40. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs or instruments which trade infrequently and therefore have little or no price transparency are classified as Level 3. The valuation methodologies used for the Company’s financial instruments measured on a recurring basis at fair value, including the general classification of such instruments pursuant to the valuation hierarchy, is set forth in the tables below. The following table presents the Company’s assets and liabilities that are measured and recognized at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy as of September 30, 2022. As of September 30, 2022 Fair Value Measurements As of September 30, 2022 Carrying Amount Fair Value Level 1 Level 2 Level 3 Assets: Money Market Funds in Cash Equivalents $ 5,877,923 $ 5,877,923 $ 5,877,923 $ — $ — Liabilities: Debt: Secured Convertible Notes $ 3,603,000 $ 3,603,000 $ — $ — $ 3,603,000 Bridge Loan $ 4,478,359 $ 4,478,359 $ — $ — $ 4,478,359 $ 8,081,359 $ 8,081,359 $ — $ — $ 8,081,359 A lattice-based model was used to estimate the fair value of the Secured Convertible Notes at September 30, 2022. The lattice model utilizes a “decision tree,” whereby future movement in the Company’s common stock price is estimated based on a volatility factor. The Company classified the fair value of the Secured Convertible Notes as a Level 3 measurement due to the lack of observable market data. The lattice model requires the development and use of assumptions, including the Company’s stock price volatility returns, an appropriate risk-free interest rate, default intensity rate, and expected recovery rate given default. The Company updated its estimate of fair value of the Bridge Loan based on the probability-weighted net present value of future cash flows at September 30, 2022. The significant unobservable inputs used in calculating the fair value of the Secured Convertible Notes and Bridge Loan represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. Any significant changes in the inputs described herein may result in significantly higher or lower fair value measurements. The Company recognized an increase in the fair value of the Bridge Loan of $0.4 million during the three months ended September 30, 2022 and a decrease of $1.7 million during the nine months ended September 30, 2022, through non-operating income in the statement of operations. During the three and nine months ended September 30, 2022, the Company recognized a decrease in the fair value of the Secured Convertible Notes of $0.7 million and $2.4 million, respectively, through non-operating income in the statement of operations. December 31, 2021 Loan Received Payments Accretion/ Interest Accrued Adjustment to Fair Value Mark to Market September 30, 2022 Secured Convertible Notes $ — $ 6,000,000 $ — $ — $ (2,397,000 ) $ 3,603,000 Bridge Loan $ — $ 6,172,969 $ — $ — $ (1,694,610 ) $ 4,478,359 $ — $ 12,172,969 $ — $ — $ (4,091,610 ) $ 8,081,359

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	8 . COMMITMENTS AND CONTINGENCIES License Agreements In April 2014, the Company obtained exclusive rights to intellectual property relating to ACER-001 for the treatment of inborn errors of branched-chain amino acid metabolism, including MSUD, and preclinical and clinical data, through a license agreement with Baylor College of Medicine (“BCM”). Under the terms of the agreement, as amended, the Company has worldwide exclusive rights to develop, manufacture, use, sell and import licensed products as defined in the agreement. The license agreement requires the Company to make certain upfront and annual payments to BCM, as well as reimburse certain legal costs, make payments upon achievement of defined milestones, and pay royalties in the low single-digit percent range on net sales of any developed product over the royalty term. In August 2016, the Company signed an agreement with Assistance Publique—Hôpitaux de Paris, Hôpital Européen Georges Pompidou (“AP-HP”) (via its Department of Clinical Research and Development) granting the Company the exclusive worldwide rights to access and use data from a randomized, controlled clinical study of celiprolol. The Company used this pivotal clinical data to support an NDA regulatory filing for EDSIVO TM In September 2018, the Company entered into a License Agreement for Development and Exploitation with AP-HP to acquire the exclusive worldwide intellectual property rights to three European patent applications relating to certain uses of celiprolol including (i) the optimal dose of celiprolol in treating vEDS patients, (ii) the use of celiprolol during pregnancy and (iii) the use of celiprolol to treat kyphoscoliotic Ehlers-Danlos syndrome (type VI). Pursuant to the agreement, the Company will reimburse AP-HP for certain costs and will pay annual maintenance fee payments. Subject to a minimum royalty amount, the Company will also pay royalty payments on annual net sales of celiprolol during the royalty term in the low single digit percent range, depending upon whether there is a valid claim of a licensed patent. Under the agreement, the Company will control and pay the costs of ongoing patent prosecution and maintenance for the licensed applications. The Company may terminate the agreement in its sole discretion upon written notice to AP-HP, and AP-HP may terminate the agreement in the event the Company fails to make the required payments after notice and opportunity to cure. Additionally, the agreement will terminate if the Company terminates clinical development, marketing approval is withdrawn by the health or regulatory authorities in all countries, the Company ceases to do business or there is a procedure of winding-up by court decision against the Company. The Company subsequently filed three U.S. patent applications on this subject matter in October 2018. In December 2018, the Company entered into an exclusive license agreement with Sanofi granting the Company worldwide rights to ACER-801, a clinical-stage, selective, non-peptide tachykinin NK3 receptor antagonist. The agreement required the Company to make a certain upfront payment to Sanofi, make payments upon achievement of defined development and sales milestones and pay royalties on net sales of ACER-801 over the royalty term. The Company plans to initially pursue development of ACER-801 as a potential treatment for iVMS . Collaboration Agreement On March 19, 2021, the Company entered into the Collaboration Agreement with Relief providing for the development and commercialization of ACER-001 for the treatment of various inborn errors of metabolism, including for the treatment of UCDs and MSUD. The Collaboration Agreement is the culmination of the Option Agreement previously entered into between the Company and Relief on January 25, 2021, which provided Relief with an exclusive period of time up to June 30, 2021 for the parties to enter into a mutually acceptable definitive agreement with respect to the potential collaboration and license arrangements. In consideration for the grant of the exclusivity option, (i) the Company received from Relief an upfront non-refundable payment of $1.0 million, (ii) Relief provided to the Company a 12-month secured loan in the principal amount of $4.0 million with interest at a rate equal to 6% per annum, as evidenced by a promissory note the Company issued to Relief, and (iii) the Company granted Relief a security interest in all of its assets to secure performance of the promissory note, as evidenced by a security agreement. Upon signing the Collaboration Agreement, the Company received a $10.0 million cash payment from Relief (the $14.0 million “Reimbursement Payment” from Relief to the Company, offset by repayment of the $4.0 million outstanding balance of the prior loan, plus interest), and Relief released its security interest in the Company’s assets pursuant to the Promissory Note. Under the terms of the Collaboration Agreement, Relief committed to pay the Company Development Payments of up to an additional $20.0 million for U.S. development and commercial launch costs for the UCDs and MSUD indications. During the three months ended June 30, 2021, the Company received from Relief the $10.0 million First Development Payment. The Company was contractually entitled to receive from Relief an additional $10.0 million Second Development Payment conditioned upon the FDA’s acceptance of an NDA for ACER-001 in a UCD for filing and review. This acceptance was received on October 4, 2021. On October 6, 2021, the Company entered into a Waiver and Agreement with Relief to amend the timing for the Second Development Payment. The Company received the Second Development Payment in two $5.0 million tranches on each of October 12, 2021 and January 14, 2022. Further, the Company retained development and commercialization rights in the U.S., Canada, Brazil, Turkey and Japan (“Acer Territory”). The companies will split net profits from the Acer Territory 60%:40% in favor of Relief. Relief licensed the rights for the rest of the world (“Relief Territory”), where the Company will receive from Relief a 15% royalty on all net sales received in the Relief Territory. The Company could also receive a total of $6.0 million in milestone payments based on the first European (EU) marketing approvals of ACER-001 for a UCD and MSUD. There is no guarantee that ACER-001 will receive regulatory authority approval in any territory or become commercially available for the indications under investigation. Paycheck Protection Program (“PPP”) Loan On April 11, 2020, the Company was advised that its principal bank, JPMorgan Chase Bank, N.A., had approved a $0.6 million loan under the PPP pursuant to the CARES Act that was signed into law on March 27, 2020. As a U.S. small business, the Company qualified for the PPP, which allows businesses and nonprofits with fewer than 500 employees to obtain loans of up to $10 million to incent companies to maintain their workers as they manage the business disruptions caused by the COVID-19 pandemic. The loan, evidenced by a promissory note to JPMorgan Chase Bank, N.A. as lender, had a term of two years, was unsecured, and was guaranteed by the Small Business Administration. The loan bore interest at a fixed rate of one percent per annum, with the first six months of interest and principal deferred. Some or all of a loan may be forgiven if at least 75% of the loan proceeds are used by the Company to cover payroll costs, including benefits, and if the Company maintains its employment and compensation within certain parameters during the period following the loan origination date and complies with other relevant conditions. On June 5, 2020, the Payroll Protection Flexibility Act of 2020 was signed into law, adjusting certain terms of the loans issued under the PPP, including extending the initial deferral period from six to up to ten months, reducing from 75% to 60% the portion of loan proceeds required to be used to cover payroll costs, and allowing borrowers to elect a 24-week rather than an eight-week period related to employment and compensation provisions. The Company accounted for the loan according to ASC 470. The Company was advised by JPMorgan Chase Bank, N.A. that the principal and interest associated with its PPP loan were forgiven in full as of June 10, 2021. Litigation From time to time, the Company may become involved in litigation or proceedings relating to claims arising out of its operations. To the extent that the Company incurs legal costs associated with any potential loss contingency, those legal costs are expensed as incurred. The Securities Class Action and Stockholder Derivative Actions On July 1, 2019, plaintiff Tyler Sell filed a putative class action lawsuit, Sell v. Acer Therapeutics Inc. et al. TM Skiadas v. Acer Therapeutics Inc. et al On August 12, 2019, a stockholder derivative action, Gress v. Aselage et al Skiadas Giroux v. Amello et al. Skiadas Gress King v. Schelling et al Skiadas Gress Giroux Diaz v. Amello et al. Gress Diaz In re Acer Therapeutics Inc. Derivative Litigation he parties reached an agreement to settle all of the derivative cases. At a hearing held on May 12, 2021 in the District Court of Massachusetts, the Court administering the matter, the settlement was approved. Payment of the settlement amount of $0.5 million, plus legal fees and costs in excess of the retention (deductible) amount, has been made by the Company’s insurance carriers. Commitments Under Clinical Trial Agreements The Company has entered into agreements with two CROs in connection with the conduct of two separate clinical trials for ACER-801 and EDSIVO TM

Stockholders' (Deficit) Equity

Stockholders' (Deficit) Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Stockholders' (Deficit) Equity	9 . STOCKHOLDERS’ (DEFICIT) EQUITY At-the-Market Facility On November 9, 2018, the Company entered into a sales agreement with Roth Capital Partners, LLC, and on March 18, 2020, the Company entered into an amended and restated sales agreement with JonesTrading Institutional Services LLC and Roth Capital Partners, LLC. The agreement provides a facility for the offer and sale of shares of common stock from time to time having an aggregate offering price of up to $50.0 million depending upon market demand, in transactions deemed to be an “at-the-market” (“ATM”) offering. The Company has no obligation to sell any shares of common stock pursuant to the agreement and may at any time suspend sales pursuant to the agreement. Each party may terminate the agreement at any time without liability The Company will need to keep current its shelf registration statement and the offering prospectus relating to the ATM facility, in addition to providing certain periodic deliverables under the sales agreement, in order to use such facility. Due to the SEC’s “baby shelf rules,” which prohibit companies with a public float of less than $75 million from issuing securities under a shelf registration statement in excess of one-third of such company’s public float in a 12-month period, the Company is currently only able to issue a limited number of shares which aggregate to not more than one-third of the Company’s public float. During the three months ended September 30, 2022, the Company sold 350,820 shares of common stock through its ATM facility at a gross sale price of $1.5223 per share, for proceeds of $0.5 million. During the nine months ended September 30, 2022, the Company sold 1,413,367 shares of common stock through its ATM facility at a gross sale price of $2.6872 per share, for gross proceeds of $3.8 million. Proceeds, net of $0.1 million of fees and offering costs, were $3.7 million. As of September 30, 2022, $36.2 million remained available under the Company’s ATM facility. Common Stock Purchase Agreement On April 30, 2020, the Company entered into an equity line purchase agreement and a registration rights agreement pursuant to which Lincoln Park has committed to purchase up to $15.0 million of the Company’s common stock. Under the terms and subject to the conditions of the purchase agreement, the Company has the right, but not the obligation, to sell to Lincoln Park, and Lincoln Park is obligated to purchase up to $15.0 million of the Company’s common stock, with $11.3 million obligation remaining as of September 30, 2022. Such sales of common stock by the Company will be subject to certain limitations, and may occur from time to time, at the Company’s sole discretion, over the 36-month period commencing on June 8, 2020. The number of shares the Company may sell to Lincoln Park on any single business day in a regular purchase is 50,000, but that amount may be increased up to 100,000 shares, depending upon the market price of the Company’s common stock at the time of sale and subject to a maximum limit of $1.0 million per regular purchase. The purchase price per share for each such regular purchase will be based on prevailing market prices of the Company’s common stock immediately preceding the time of sale as computed under the purchase agreement. In addition to regular purchases, the Company may also direct Lincoln Park to purchase other amounts as accelerated purchases or as additional accelerated purchases if the closing sale price of the common stock exceeds certain threshold prices as set forth in the purchase agreement. Under applicable rules of the Nasdaq Capital Market, in no event may the Company issue or sell to Lincoln Park under the purchase agreement more than 19.99% of the shares of the Company’s common stock outstanding immediately prior to the execution of the purchase agreement, unless (i) the Company obtains stockholder approval to issue shares of common stock in excess of the Exchange Cap or (ii) the average price of all applicable sales of common stock to Lincoln Park under the purchase agreement equals or exceeds $2.1668, such that issuances and sales of the common stock to Lincoln Park under the purchase agreement would be exempt from the issuance limitation under applicable Nasdaq rules. Lincoln Park has no right to require the Company to sell any shares of common stock to Lincoln Park, but Lincoln Park is obligated to make purchases as the Company directs, subject to certain conditions. In all instances, the Company may not sell shares of its common stock to Lincoln Park under the purchase agreement if doing so would result in Lincoln Park beneficially owning more than 9.99% of its common stock. The Company determined that the right to sell additional shares represents a freestanding put option under ASC 815 Derivatives and Hedging, but has a fair value of zero, and therefore no additional accounting was required. Actual sales of shares of common stock to Lincoln Park under the purchase agreement will depend on a variety of factors to be determined by the Company from time to time, including, among others, market conditions, the trading price of the common stock and determinations by the Company as to the appropriate sources of funding for the Company and its operations. However, there can be no assurance that the Company will be able to receive the entire obligation amount from Lincoln Park because the purchase agreement contains limitations, restrictions, requirements, events of default, and other provisions that could limit the Company’s ability to cause Lincoln Park to buy common stock from the Company. The proceeds under the purchase agreement to the Company will depend on the frequency and prices at which the Company sells shares of its stock to Lincoln Park. The Company issued 148,148 shares of common stock to Lincoln Park as a commitment fee in connection with entering into the purchase agreement. The $0.4 million fair value of the commitment fee shares was recorded to General and administrative expenses along with other costs incurred in connection with entering into the purchase agreement. During the three months ended September 30, 2022, the Company sold 350,000 shares of common stock under its purchase agreement with Lincoln Park at a weighted average gross sale price of $1.39 per share, resulting in proceeds of $0.5 million. During the nine months ended September 30, 2022, the Company sold 650,000 shares of common stock under its purchase agreement with Lincoln Park at a weighted average gross sale price of $1.32 per share, resulting in proceeds of $0.9 million. 2018 Stock Incentive Plan The Company’s 2018 Stock Incentive Plan (the “2018 Plan”), adopted on May 14, 2018, originally provided for the grant of up to 500,000 shares of common stock as stock options, restricted stock, stock appreciation rights, restricted stock units, performance-based awards and cash-based awards that may be settled in cash, stock or other property to employees, executive officers, directors, and consultants. In addition to the 500,000 shares, the total number of shares reserved for issuance under the 2018 Plan also consists of the sum of the number of shares subject to outstanding awards under the Company’s 2010 Stock Incentive Plan, as amended and restated (the “2010 Plan”), and the 2013 Stock Incentive Plan, as amended (the “2013 Plan”), as of the effective date of the 2018 Plan that are subsequently forfeited or terminated for any reason prior to being exercised or settled, plus the number of shares subject to vesting restrictions under the 2010 Plan and the 2013 Plan on the effective date of the 2018 Plan that are subsequently forfeited, plus the number of shares reserved but not issued or subject to outstanding grants under the 2010 Plan and the 2013 Plan as of the effective date of the 2018 Plan, up to a maximum of 635,170 shares in aggregate. In addition, the number of shares authorized for issuance under the 2018 Plan is automatically increased (the “evergreen provision”) on the first day of each fiscal year beginning on January 1, 2019, and ending on (and including) January 1, 2028, in an amount equal to the lesser of (i) 4% of the outstanding shares of common stock on the last day of the immediately preceding fiscal year, or (ii) another amount (including zero) determined by the Company’s Board of Directors. On January 1, 2022 and 2021, 572,410 and 529,325 additional shares, respectively, were authorized according to the evergreen provision. On February18, 2022, the Company’s Board of Directors amended and restated the 2018 Plan to add a provision permitting the grant of inducement awards under Nasdaq Marketplace Rule 5635(c)(4) to eligible recipients and initially reserved 200,000 shares of the Company’s common stock for issuance pursuant to inducement awards granted under the 2018 Plan. Any shares subject to awards granted under the 2018 Plan that are forfeited or terminated before being exercised or settled or are not delivered to the participant because such award is settled in cash, will again become available for issuance under the 2018 Plan. Shares withheld to satisfy the grant, exercise price or tax withholding obligation related to an award will again become available for issuance under the 2018 Plan. The 2018 Plan is administered by the Company’s Board of Directors, which may in turn delegate authority to administer the plan to a committee such as the Compensation Committee, referred to herein as the 2018 Plan administrator. Subject to the terms of the 2018 Plan, the 2018 Plan administrator will determine recipients, the number of shares or amount of cash subject to awards to be granted, whether an option is to be an incentive stock options or non-incentive stock options and the terms and conditions of the stock awards, including the period of their exercisability and vesting. Subject to the limitations set forth below, the 2018 Plan administrator will also determine the exercise price of options granted under the 2018 Plan. The 2018 Plan expressly provides that, without the approval of the stockholders, the 2018 Plan administrator does not have the authority to reduce the exercise price of any outstanding stock options or stock appreciation rights under the 2018 Plan (except in connection with certain corporate transactions, such as stock splits, certain dividends, recapitalizations, reorganizations, mergers, spin-offs and the like), or cancel any outstanding underwater stock options or stock appreciation rights in exchange for cash or new stock awards under the 2018 Plan. Option awards are generally granted with an exercise price equal to the fair value of the common stock at the date of grant and have contractual terms of ten years. Stock options granted to executive officers and employees generally vest either 1) over a four-year At September 30, 2022, 353,688 shares of common stock remained available for the grant of future awards under the 2018 Plan. 2013 Stock Incentive Plan The Company’s 2013 Plan provided for the issuance of up to 165,000 shares of common stock as incentive or non-qualified stock options and/or restricted common stock to employees, officers, directors, consultants and advisers. Option awards were generally granted with an exercise price equal to the fair value of the common stock at the date of grant and had contractual terms of ten years. At September 30, 2022, all shares available under the 2013 Plan were subject to outstanding equity awards, and no new awards may be granted under the 2013 Plan. 2010 Stock Incentive Plan The Company’s 2010 Plan, as amended and restated, provided for the grant of up to 470,170 shares of common stock as incentive or non-qualified stock options, stock appreciation rights, restricted stock units and/or restricted common stock to employees, officers, directors, consultants and advisers. Option awards were generally granted with an exercise price equal to the fair value of the common stock at the date of grant and had contractual terms of ten years. At September 30, 2022, all shares available under the 2010 Plan were subject to outstanding equity awards, and no new awards may be granted under the 2010 Plan. Stock Plan Activity A summary of option activity under the 2018 Plan, 2013 Plan, and 2010 Plan for the nine months ended September 30, 2022, is as follows: Year-to-Date Activity Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in Millions) Options outstanding at December 31, 2021 1,954,975 $ 8.16 7.8 Granted 960,500 $ 2.33 Cancelled/forfeited (85,000 ) $ 3.75 Options outstanding at September 30, 2022 2,830,475 $ 6.32 7.8 $ — Options exercisable at September 30, 2022 1,398,730 $ 9.64 6.5 $ — At September 30, 2022, there was $2.8 million of unrecognized compensation expense related to the stock-based compensation arrangements granted under all plans. The average remaining vesting period for options was 2.8 years. The weighted average grant date fair value of options granted during the three and nine months ended September 30, 2022 was $1.24 and $1.99, respectively. The weighted average grant date fair value of options granted during the three and nine months ended September 30, 2021was $1.93 and $2.63, respectively. The fair value of shares vested during the three and nine months ending September 30, 2022 was $0.4 million and $1.9 million, respectively. The fair value of shares vested during the three and nine months ending September 30, 2021 was $0.5 million and $1.6 million, respectively. The amount of stock-based compensation expense recorded to research and development expenses and to general and administrative expenses is detailed in table below: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock-based compensation Research and development $ 160,316 $ 183,505 $ 459,636 $ 528,385 General and administrative 299,799 416,508 935,353 1,226,027 Total stock-based compensation expense $ 460,115 $ 600,013 $ 1,394,989 $ 1,754,412 Warrants issued to SWK Nine Months Ended September 30, 2022 2021 Number Weighted Average Exercise Price Number Weighted Average Exercise Price Outstanding at beginning of the period — $ — — — Granted during the period 250,000 2.08 — — Outstanding at end of the period 250,000 $ 2.08 — $ — Exercisable at end of the period 250,000 $ 2.08 — $ — Weighted average remaining life 6.5 years —

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	10 . NET LOSS PER SHARE Basic net loss per share is computed by dividing the net loss in each period by the weighted-average number of common shares outstanding during such period. Diluted net loss per share is computed similarly to basic net loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. For the periods presented, common stock equivalents, consisting of stock-based awards and the SWK Warrants, were not included in the calculation of the diluted loss per share because to do so would be antidilutive. The exercise prices of the SWK Warrants are subject to a proportionate adjustment in the event of a stock dividend or stock split. The Company concluded that they should be deemed participating securities. However, as the Company is currently operating in a net loss position as of the third quarter of 2022 and has not declared any dividends, such inclusion of the participating securities related to the SWK Warrants (as common stock equivalents) would be anti-dilutive and thus would be excluded from the calculation of net loss per share. When calculating diluted net loss per share, the Company includes, only if dilutive, the potential common shares associated with the Secured Convertible Notes using the “if-converted” method, which adjusts the numerator for any impact to earnings for the period and includes in the denominator the shares assumed to be converted at the beginning of the period. A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per common share for the three and nine months ended September 30, 2022 is as follows: For the Three Months Ended September 30, 2022 For the Nine Months Ended September 30, 2022 Numerator: Net loss $ (5,006,945 ) $ (16,852,985 ) Denominator: Basic: Weighted average shares of common stock outstanding 16,089,019 15,230,839 Diluted: Weighted average shares of common stock outstanding 16,089,019 15,230,839 Effect of potentially dilutive shares (1) 0 1,854,945 Total weighted average shares of common stock and potentially dilutive shares 16,089,019 17,085,784 Net loss per common share: Basic: Net loss applicable to common stockholders $ (5,006,945 ) $ (16,852,985 ) Weighted average shares of stock outstanding, basic 16,089,019 15,230,839 Basic net loss per common share $ (0.31 ) $ (1.11 ) Diluted: Net loss applicable to common shareholders, diluted (1) $ (5,006,945 ) $ (19,249,985 ) Weighted average shares of stock outstanding, diluted 16,089,019 17,085,784 Diluted net loss per common share $ (0.31 ) $ (1.13 ) (1) In calculating diluted net loss per share, we excluded the impact of changes in the fair value of the Secured Convertible Notes of $2.4 million for the nine months ended September 30, 2022. The 1,854,945 shares for the nine months ended September 30, 2022 are the weighted average shares associated with the original principal amount of the Secured Convertible Notes. As of September 30, 2022 and 2021, the number of shares of common stock underlying potentially dilutive securities excluded from the calculation of diluted net loss per share, because the company’s net loss meant that their inclusion would have been antidilutive for those periods, consist of: September 30, 2022 2021 Options to purchase common stock 2,830,475 1,908,975 SWK Warrants 250,000 — Total 3,080,475 1,908,975 The application of the “if-converted” method to the 2.4 million shares associated with the Secured Convertible Notes, as well as the 46,586 shares associated with the assumed conversion of accrued interest owed at the beginning of the period, was not applicable for the three months ended September 30, 2022 because to do so would have been antidilutive.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	1 1 . SUBSEQUENT EVENTS Subsequent to September 30, 2022, the Company sold an aggregate of 66,083 shares of common stock under its ATM facility at an average gross sale price of $1.35 per share, resulting in gross and net proceeds of $0.1 million. Subsequent to September 30, 2022, the Company sold 50,000 shares of common stock under its purchase agreement with Lincoln Park at an average gross sale price of $1.20 per share, resulting in proceeds of $60 thousand.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Liquidity	Liquidity The Company had an accumulated deficit of $131.4 million and cash and cash equivalents of $6.4 million as of September 30, 2022. Net cash used in operating activities was $22.0 million for the nine months ended September 30, 2022. On November 9, 2018, the Company entered into a sales agreement with Roth Capital Partners, LLC, and on March 18, 2020, an amended and restated sales agreement was entered into with JonesTrading Institutional Services LLC and Roth Capital Partners, LLC. The agreement provides a facility for the offer and sale of shares of common stock from time to time having an aggregate offering price of up to $50.0 million depending upon market demand, in transactions deemed to be an at-the-market (“ATM”) offering. The Company has no obligation to sell any shares of common stock pursuant to the agreement and may at any time suspend sales pursuant to the agreement. Each party may terminate the agreement at any time without liability. During the three months ended September 30, 2022, the Company sold 350,820 shares of common stock through its ATM facility at a gross sale price of $1.5223 per share, for proceeds of $0.5 million. During the nine months ended September 30, 2022, the Company sold 1,413,367 shares of common stock through its ATM facility at a gross sale price of $2.6872 per share, for gross proceeds of $3.8 million; proceeds, net of $0.1 million of fees and offering costs, were $3.7 million. As of September 30, 2022, $36.2 million remained available under the Company’s ATM facility, subject to various limitations. On April 30, 2020, the Company entered into an equity line purchase agreement and registration rights agreement pursuant to which Lincoln Park Capital Fund, LLC (“Lincoln Park”) has committed to purchase up to $15.0 million of the Company’s common stock. Under the terms and subject to the conditions of the purchase agreement, the Company has the right, but not the obligation, to sell to Lincoln Park, and Lincoln Park is obligated to purchase up to $15.0 million of the Company’s common stock, with $11.3 million obligation remaining as of September 30, 2022, subject to various limitations. Such sales of common stock by the Company will be subject to certain limitations, and may occur from time to time, at the Company’s sole discretion, over the 36-month period commencing on June 8, 2020. The number of shares the Company may sell to Lincoln Park on any single business day in a regular purchase is 50,000, but that amount may be increased up to 100,000 shares, depending upon the market price of the Company’s common stock at the time of sale and subject to a maximum limit of $1.0 million per regular purchase. The purchase price per share for each such regular purchase will be based on prevailing market prices of the Company’s common stock immediately preceding the time of sale as computed under the purchase agreement. In addition to regular purchases, the Company may also direct Lincoln Park to purchase other amounts as accelerated purchases or as additional accelerated purchases if the closing sale price of the common stock exceeds certain threshold prices as set forth in the purchase agreement. During the three months ended September 30, 2022, the Company sold 350,000 shares of common stock under its purchase agreement with Lincoln Park at a weighted average gross sale price of $1.39 per share, resulting in proceeds of $0.5 million. During the nine months ended September 30, 2022, the Company sold 650,000 shares of common stock under its purchase agreement with Lincoln Park at a weighted average gross sale price of $1.32 per share, resulting in proceeds of $0.9 million. On January 25, 2021, the Company entered into an option agreement (the “Option Agreement”) with Relief, pursuant to which the Company granted Relief an exclusive option (the “Exclusivity Option”) to pursue a potential collaboration and license arrangement with the Company for the development, regulatory approval and commercialization of ACER-001 for the treatment of various inborn errors of metabolism, including UCDs and MSUD. The Option Agreement provided a period of time up to June 30, 2021, for the parties to perform additional due diligence and to work toward negotiation and execution of a definitive agreement with respect to the potential collaboration for ACER‑001. In consideration for the grant of the Exclusivity Option, (i) the Company received from Relief an upfront nonrefundable payment of $1.0 million, (ii) Relief provided to the Company a 12-month secured loan in the principal amount of $4.0 million, as evidenced by a Promissory Note (the “Note”) the Company issued to Relief, and (iii) the Company granted Relief a security interest in all of its assets to secure performance of the Note, as evidenced by a Security Agreement (the “Security Agreement”). The Note was repayable in one lump sum within 12 months from issuance and bore interest at a rate equal to 6% per annum. If a definitive agreement with respect to the potential collaboration had not been executed by the parties on or before June 30, 2021, the Exclusivity Option would have terminated, and the Note would have been repayable by the Company upon maturity. On March 19, 2021, the Company entered into the Collaboration Agreement with Relief providing for the development and commercialization of ACER-001 for the treatment of various inborn errors of metabolism, including for the treatment of UCDs and MSUD. The Company received a $10.0 million cash payment from Relief (consisting of a $14.0 million “Reimbursement Payment” from Relief to the Company offset by payment of the $4.0 million outstanding balance of the Note plus interest earned through the date of the Collaboration Agreement) and Relief released its security interest in all of the Company’s assets pursuant to the Promissory Note. Under the terms of the Collaboration Agreement, Relief committed to pay the Company up to an additional $20.0 million for U.S. development and commercial launch costs for the UCDs and MSUD indications (the “Development Payments”). During the three months ended June 30, 2021, the Company received from Relief the $10.0 million First Development Payment. The Company was contractually entitled to receive from Relief an additional $10.0 million Second Development Payment conditioned upon the FDA’s acceptance of a New Drug Application (“NDA”) for ACER-001 in a UCD for filing and review. This acceptance was received on October 4, 2021. On October 6, 2021, the Company entered into a Waiver and Agreement with Relief to amend the timing for the Second Development Payment. The Company received the Second Development Payment in two $5.0 million tranches on each of October 12, 2021 and January 14, 2022. Further, the Company retained development and commercialization rights in the U.S., Canada, Brazil, Turkey, and Japan (“Acer Territory”). The companies will split net profits from the Acer Territory 60%:40% in favor of Relief. Relief licensed the rights for the rest of the world (“Relief Territory”), where the Company will receive from Relief a 15% royalty on all net sales received in the Relief Territory. The Company could also receive a total of $6.0 million in milestone payments based on the first European marketing approvals of ACER-001 for a UCD and MSUD. There is no guarantee that ACER-001 will receive regulatory authority approval in any territory or become commercially available for the indications under investigation. The terms of the Collaboration Agreement and Option Agreement are further described below in the Revenue Recognition and Accounting for Collaboration Agreements section of Note 2, Significant Accounting Policies. On March 4, 2022, the Company entered into a Credit Agreement (the “SWK Credit Agreement”) with the lenders party thereto and SWK Funding LLC (“SWK”), as the agent, sole lead arranger and sole bookrunner, which provided for a senior secured term loan facility in an aggregate amount of $6.5 million in a single borrowing (the “Bridge Loan”). The Bridge Loan funding closed on March 14, 2022. The proceeds of the Bridge Loan were used to pay fees, costs and expenses related to the SWK Credit Agreement, the Secured Convertible Note Purchase Agreement (as defined and described below) and the Marathon Credit Agreement (as defined and described below) and for other working capital and general corporate purposes. On August 19, 2022, the Company entered into an amendment (the “First Amendment”) to the SWK Credit Agreement, which extended the date through which the Company has the option to capitalize interest on the SWK Credit Agreement and which revised the Company’s minimum cash requirement under the Bridge Loan. The Bridge Loan bears interest at an annual rate of the sum of (i) 3-month LIBOR (or such other rate as may be agreed by the Company and SWK following the date on which 3-month LIBOR is no longer available), subject to a 1% floor, plus (ii) a margin of 11%, with such interest payable quarterly in arrears. In the event of default, the interest rate will increase by 3% per annum over the contract rate effective at the time of default but shall not be higher than the maximum rate permitted to be charged by applicable laws. The Company has the option to capitalize such interest commencing on the date on which the Bridge Loan was funded and continuing until February 15, 2023. Commencing on February 15, 2023, the principal amount of the Bridge Loan will amortize at a rate of $0.7 million, payable quarterly. The final maturity date of the Bridge Loan is March 4, 2024. The Company has the option to prepay the Bridge Loan in whole or in part. Upon the repayment of the Bridge Loan (whether voluntary or at scheduled maturity), the Company must pay an exit fee so that SWK receives an aggregate amount (inclusive of all principal, interest and origination and other fees paid to SWK under the SWK Credit Agreement on or prior to the prepayment date) equal to 1.5 of efficacy in the results from a completed Phase 2a trial; and (3) the Company shall have failed to enter into arrangements prior to December 31, 2022 involving rights to EDSIVO™ which result in at least a specified threshold of upfront or near-term payments to the Company. The Bridge Loan is secured by a first priority lien on all assets of the Company and any of its future subsidiaries pursuant to a Guarantee and Collateral Agreement entered into on March 4, 2022, between the Company and SWK, as agent (the “SWK Security Agreement”). The SWK Credit Agreement contains customary representations and warranties and affirmative and negative covenants. The Company paid to SWK $0.1 million in origination fees on the date on which the Bridge Loan was funded. In connection with the execution of the SWK Credit Agreement, the Company issued a warrant (the “First SWK Warrant”) to purchase 150,000 shares of the Company’s common stock at an exercise price of $2.46 per share. In connection with the execution of the First Amendment, the Company issued to SWK an additional warrant to purchase 100,000 shares of the Company’s common stock at an exercise price of $1.51 per share (such warrant, the "SWK Amendment Warrant" and, together with the First SWK Warrant, the "SWK Warrants"). SWK may exercise the SWK Warrants in accordance with the terms thereof for all or any part of such shares of common stock from the date on which the Bridge Loan was funded until and including March 4, 2029. On March 4, 2022, the Company also entered into a Secured Convertible Note Purchase Agreement with MAM Aardvark, LLC (“Marathon”) and Marathon Healthcare Finance Fund, L.P. (“Marathon Fund” and together with “Marathon” each a “Holder” and collectively the “Holders”) (the “Secured Convertible Note Purchase Agreement”) pursuant to which the Company issued and sold to the Holders secured convertible notes (the “Secured Convertible Notes”) in an aggregate amount of up to $6.0 million (the “Convertible Note Financing”). The Convertible Note Financing closed on March 14, 2022. The proceeds of the Convertible Note Financing are being used to pay fees, costs and expenses related to the SWK Credit Agreement, the Secured Convertible Note Purchase Agreement and the Marathon Credit Agreement and for other working capital and general corporate purposes. The Secured Convertible Notes bear interest at an annual rate of 6.5%, with such interest payable quarterly; provided, however, that until the first to occur of ACER-001 Approval and the repayment in full of the Bridge Loan, interest will not be payable in cash, but will accrue and be payable in cash upon the earlier of a) the repayment of all obligations under the Bridge Loan and termination of such Bridge Loan or b) within three business days of ACER-001 Approval. Subject to the restrictions set forth in an agreement among each of the Holders and SWK, as agent and lender, and any other intercreditor or subordination agreement entered into in connection with the Term Loan (defined below), each of the Holders has the right, during the 30-day periods beginning 12 months, 18 months and 24 months after the closing date of the Convertible Note Financing, to require the Company to redeem the Secured Convertible Note held by such Holder at a redemption price of the outstanding principal amount plus any accrued but unpaid interest. Each of the Holders also has the right to convert all or any portion of the outstanding principal amount plus any accrued but unpaid interest under the Secured Convertible Note held by such Holder into shares of common stock at a conversion price of $2.50 per share, subject to adjustment. Each Holder has certain rights with respect to the registration by the Company for resale of the shares of common stock issuable upon conversion of the Secured Convertible Note held by such Holder which are forth in the Secured Convertible Note Purchase Agreement. Any outstanding principal, together with all accrued and unpaid interest, will be payable on the earlier of the third anniversary of the date of issuance, or upon a change of control of the Company. Pursuant to the Secured Convertible Note Purchase Agreement, the Secured Convertible Notes are secured by a lien on collateral representing substantially all assets of the Company, although such security interest is subordinated to the Company’s obligations under the SWK Credit Agreement and may also be subordinated to the Company’s obligations under the Marathon Credit Agreement. On March 4, 2022, the Company also entered into a Credit Agreement (the “Marathon Credit Agreement”) with the lenders party thereto and Marathon, as the agent, sole lead arranger and sole bookrunner, which provides for a senior secured term loan facility in an aggregate amount of up to $42.5 million in a single borrowing (the “Term Loan”). The Term Loan will be available to be borrowed only following ACER-001 Approval and until December 31, 2022 (i.e., if ACER-001 Approval does not occur on or before December 31, 2022, then the Term Loan will not be available unless the Company is able to obtain an extension for the time period beyond December 31, 2022, to the actual PDUFA target action date), and funding of the Term Loan is also subject to the satisfaction of conditions as set forth in the Marathon Credit Agreement. Although the Company’s resubmitted NDA in respect of ACER-001 (sodium phenylbutyrate) for oral suspension for the treatment of patients with UCDs has been accepted for substantive review by the FDA, the Prescription Drug User Fee Act (“PDUFA”) target action date is January 15, 2023. The Term Loan, if it becomes available, will be used to refinance certain other indebtedness of the Company (including the Bridge Loan), to pay fees, costs and expenses related to the Marathon Credit Agreement and for other working capital and general corporate purposes. Should the Term Loan become available, the Company will pay Marathon a commitment fee equal to 1.5% of the Term Loan amount. The Marathon Credit Agreement also includes an accordion feature pursuant to which the Company, Marathon and the lenders under the Marathon Credit Agreement may agree to increase the Term Loan commitments by up to an additional $50.0 million dollars for a total commitment of $92.5 million; provided, however, that any such increase is within the sole discretion of each party (i.e., the Company cannot unilaterally trigger such an increase). The Term Loan w ould bear interest at an annual rate of 13.5 % and w ould be payable quarterly in arrears. The Company would have the option to capitalize up to 4 % of such interest commencing on the date on which the Term Loan is funded (the “Term Loan Funding Date”) and continuing until the third anniversary of the Term Loan Funding Date. Commencing on the third anniversary of the Term Loan Funding Date, the principal outstanding amount of the Term Loan w ould amortize at a rate of 2.78 %, payable monthly. The final maturity date of the Term Loan would be the earlier of six years after the Term Loan Funding Date or December 31, 2028 . The Company would have the option to prepay the Term Loan in whole or in part at any time, subject to a prepayment fee equal to (a) if the prepayment is made prior to March 4, 2025, then the g reater of 5 % or the amount of interest that would have accrued from the date of prepayment until March 4, 2025, (b) if the prepayment is made on or after March 4, 2025, but prior to March 4, 2026, then 3 %, (c) if the prepayment is made on or after March 4, 2026, but prior to March 4, 2027, then 2 %, or (d) if the prepayment is made on or after March 4, 2027, then 1 %. The Term Loan would be secured by a first priority lien on all assets of the Company and any of its future subsidiaries pursuant to a Guarantee and Collateral Agreement to be entered into on the Term Loan Funding Date between the Company and Marathon, as agent (the “Marathon Security Agreement”). The Marathon Credit Agreement contains customary representations and warranties and affirmative and negative covenants. The Company paid $0.2 million in commitment fees to Marathon in connection with obtaining the commitments in respect of the Term Loan and will pay $0.6 million in additional commitment fees to Marathon following ACER-001 Approval or any change of control of the Company or sale or transfer of the ACER-001 product. In connection with the Marathon Credit Agreement, on March 4, 2022, the Company, Marathon and the Marathon Fund also entered into a Synthetic Royalty Agreement (the “Royalty Agreement”) pursuant to which, in the event of the funding of the Term Loan, the Company will pay Marathon and the Marathon Fund, on a quarterly basis, 2% of certain aggregate commercial revenue from sales of ACER-001 during that quarter (i.e., 2% of the net sales and of the amount of certain other payments), subject to a cap on the aggregate amount of such payments of $15.0 million. Upon a change of control of the Company or the sale of the ACER-001 business to a third party, the Company would pay Marathon and the Marathon Fund the difference between $15.0 million and the aggregate amount of the payments previously made by the Company to Marathon and the Marathon Fund pursuant to the Royalty Agreement. The Nasdaq Capital Market’s continued listing standards for the Company’s common stock require, among other things, that the Company maintain either (i) stockholders’ equity of $2.5 million, (ii) market value of listed securities of $35 million or (iii) net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. On May 31, 2022, the Company received a letter from the listing qualifications department staff of Nasdaq indicating that for the last 30 consecutive business days the Company’s minimum Market Value of Listed Securities (“MVLS”) was below the $35 million required for continued listing on the Nasdaq Capital Market pursuant to Nasdaq listing rule 5550(b)(2). The Company’s stockholder’s equity and net income from continuing operations were also below the alternate listing standards levels at that time. In accordance with Nasdaq listing rules, the Company has 180 calendar days, or until November 28, 2022, to regain compliance. Management expects to continue to finance operations through the issuance of additional equity or debt securities, non-dilutive funding, and/or through strategic collaborations. Any transactions which occur may contain covenants that restrict the ability of management to operate the business and any securities issued may have rights, preferences, or privileges senior to the Company’s common stock and may dilute the ownership of current stockholders of the Company. The Company’s cash and cash equivalents available at September 30, 2022 are expected to be sufficient to fund its anticipated operating and capital requirements into, but not through, the fourth quarter of 2022.
Going Concern	Going Concern The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the U.S. (“GAAP”), which contemplate continuation of the Company as a going concern. The Company has not established a source of commercial product revenues and, as such, has been dependent on funding operations through the sale of equity securities, through a collaboration agreement, and through debt instruments. Since inception, the Company has experienced significant losses and incurred negative cash flows from operations. The Company has spent, and expects to continue to spend, a substantial amount of funds in connection with implementing its business strategy, including its planned product development efforts and potential precommercial activities. As of September 30, 2022, the Company had cash and cash equivalents of $6.4 million and current liabilities of $20.8 million, which include $10.6 million associated with deferred collaboration funding (see Revenue Recognition and Accounting for Collaboration Agreements below in Note 2, Significant Accounting Policies). The Company’s cash and cash equivalents available at September 30, 2022 are expected to be sufficient to fund its anticipated operating and capital requirements into, but not through, the fourth quarter of 2022. The Company will need to raise additional capital in the fourth quarter of 2022 to fund continued operations because neither the FDA approval of ACER-001 nor subsequent product revenues are assured. The Company may not be successful in its efforts to raise additional funds or achieve profitable operations. The Company continues to explore potential opportunities and alternatives to obtain the additional resources that will be necessary to support its ongoing operations beyond the fourth quarter of 2022, including raising additional capital through either private or public equity or debt financing or additional program collaborations or non-dilutive funding, as well as using its ATM facility which has $36.2 million available as of September 30, 2022 and/or its remaining $11.3 million available under the equity line facility entered into on April 30, 2020 with Lincoln Park. (See At-the-Market Facility and Common Stock Purchase Agreement below in Note 9.) Due to the SEC’s “baby shelf rules,” which prohibit companies with a public float of less than $75 million from issuing securities under a shelf registration statement in excess of one-third of such company’s public float in a 12-month period, the Company is currently only able to issue a limited number of shares under its ATM facility which aggregate to no more than one-third of its public float. Additionally, there can be no assurance that the Company will be able to receive the entire obligation amount from Lincoln Park because the purchase agreement contains limitations, restrictions, requirements, events of default, and other provisions that could limit the Company’s ability to cause Lincoln Park to buy common stock from the Company. As noted above, the Company also has available to it the $42.5 million Term Loan conditional upon the approval of ACER-001 by the FDA; provided, however, that if ACER-001 Approval does not occur on or before December 31, 2022, then the Term Loan will not be available unless the Company is able to obtain an extension for the time period beyond December 31, 2022, to the actual PDUFA target action date. The PDUFA target action date for the Company’s resubmitted NDA in respect of ACER-001 (sodium phenylbutyrate) for oral suspension for the treatments of patients with UCDs is January 15, 2023. The Company has no commitments for any additional financing, except for the agreement with Lincoln Park, and the Marathon Credit Agreement for the Term Loan. Any amounts raised will be used for further development of its product candidates, precommercial activities, and for other working capital purposes. If the Company is unable to obtain additional funding to support its current or proposed activities and operations, it may not be able to continue its operations as currently anticipated, which may require it to suspend or terminate any ongoing development activities, modify its business plan, curtail various aspects of its operations, cease operations, or seek relief under applicable bankruptcy laws. In such event, the Company’s stockholders may lose a substantial portion or even all of their investment. These factors individually and collectively raise substantial doubt about the Company’s ability to continue as a going concern for at least 12 months from the date these financial statements are available, or November 14, 2023. The accompanying unaudited condensed financial statements do not include any adjustments or classifications that may result from the possible inability of the Company to continue as a going concern.
Use of Estimates	Use of Estimates The Company’s accounting principles require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of assets and liabilities at the date of the condensed financial statements and reported amounts of revenues and expenses during the reporting period. From time to time, estimates having relatively higher significance include determination of stand-alone selling price and variable consideration estimates for purposes of measuring collaboration funding, revenue recognition, deferred collaboration funding, stock-based compensation, inputs to fair value for debt, contract manufacturing and clinical trial accruals, and income taxes. Actual results could differ from those estimates and changes in estimates may occur.
Revenue Recognition and Accounting for Collaboration Agreements	Revenue Recognition and Accounting for Collaboration Agreements The Company’s revenue and collaboration funding are generated from a single collaboration agreement which included the sale of a license of intellectual property. The Company analyzes its collaboration agreements to assess whether they are within the scope of ASC Topic 808, Collaborative Arrangements Revenue from Contracts with Customers The Company determines the units of account within the collaborative arrangement utilizing the guidance in ASC 606 to determine which promised goods or services are distinct. In order for a promised good or service to be considered “distinct” under ASC 606, the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct), and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract). For any units of account that fall within the scope of ASC 606, where the other party is a customer, the Company evaluates the separate performance obligation(s) under each contract, determines the transaction price, allocates the transaction price to each performance obligation considering the estimated stand-alone selling prices of the services and recognizes revenue upon the satisfaction of such obligations at a point in time or over time dependent on the satisfaction of one of the following criteria: (1) the customer simultaneously receives and consumes the economic benefits provided by the vendor’s performance; (2) the vendor creates or enhances an asset controlled by the customer; and (3) the vendor’s performance does not create an asset for which the vendor has an alternative use and the vendor has an enforceable right to payment for performance completed to date. Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Revenue for a sales-based or usage-based royalty promised in exchange for a license of intellectual property is recognized only when (or as) the later of the following events occurs: (i) the subsequent sale or usage occurs; or (ii) the performance obligation to which some or all of the sales-based or usage-based royalty has been allocated has been satisfied (or partially satisfied). On January 25, 2021, the Company entered into the Option Agreement with Relief pursuant to which the Company granted Relief the Exclusivity Option to pursue a potential collaboration and license arrangement with the Company for the development, regulatory approval and commercialization of ACER-001 for the treatment of various inborn errors of metabolism, including UCDs and MSUD. The Option Agreement provided a period of time up to June 30, 2021 for the parties to perform additional due diligence and to work toward negotiation and execution of a definitive agreement with respect to the potential collaboration for ACER‑001. In consideration for the grant of the Exclusivity Option, (i) the Company received from Relief an upfront nonrefundable payment of $1.0 million, (ii) Relief provided to the Company a 12-month secured loan in the principal amount of $4.0 million, as evidenced by the Note issued by the Company to Relief, and (iii) the Company granted to Relief a security interest in all of its assets to secure performance of the Note, as evidenced by the Security Agreement. The Note was repayable in one lump sum within 12 months from issuance and bore interest at a rate equal to 6% per annum. If a definitive agreement with respect to the potential collaboration had not been executed by the parties on or before June 30, 2021, the Exclusivity Option would have terminated and the Note would have been repayable by the Company upon maturity. On March 19, 2021, the Company entered into the Collaboration Agreement with Relief providing for the development and commercialization of ACER-001 for the treatment of various inborn errors of metabolism, including for the treatment of UCDs and MSUD. The Company received a $10.0 million cash payment from Relief (consisting of a $14.0 million “Reimbursement Payment” from Relief to the Company offset by repayment of the $4.0 million outstanding balance of the Note, plus interest earned through the date of the Collaboration Agreement), and Relief released its security interest in all of the Company’s assets pursuant to the Promissory Note. Under the terms of the Collaboration Agreement, Relief committed to pay the Company up to an additional $20.0 million for U.S. development and commercial launch costs for the UCDs and MSUD indications. During the three months ended June 30, 2021, the Company received from Relief the $10.0 million First Development Payment. The Company was contractually entitled to receive from Relief an additional $10.0 million Second Development Payment conditioned upon the FDA’s acceptance of an NDA for ACER-001 in a UCD for filing and review. This acceptance was received on October 4, 2021. On October 6, 2021, the Company entered into a Waiver and Agreement with Relief to amend the timing for the Second Development Payment. The Company received the Second Development Payment in two $5.0 million tranches on each of October 12, 2021 and January 14, 2022. Further, the Company retained development and commercialization rights in the U.S., Canada, Brazil, Turkey and Japan (“Acer Territory”). The companies will split net profits from the Acer Territory 60%:40% in favor of Relief. Relief licensed the rights for the rest of the world (“Relief Territory”), where the Company will receive from Relief a 15% royalty on all net sales received in the Relief Territory. The Company could also receive a total of $6.0 million in milestone payments based on the first European (EU) marketing approvals for a UCD and MSUD. There is no guarantee that ACER-001 will receive regulatory authority approval in any territory or become commercially available for the indications under investigation. The Company assessed these agreements in accordance with the authoritative literature and concluded that they meet the definition of a collaborative arrangement per ASC 808. For certain parts of the Collaboration Agreement, the Company concluded that Relief represented a customer while, for other parts of the Collaboration Agreement, Relief did not represent a customer. The units of account of the Collaboration Agreement where Relief does not represent a customer are outside of the scope of ASC 606. The Company also determined that the development and commercialization services and Relief’s right to 60% profit in the Acer Territory is within the scope of ASC 730, with regard to funded research and development arrangements. The Company concluded the promised goods and services contained in the Collaboration Agreement, represented two distinct units of account consisting of a license in the Relief Territory, and a combined promise for the development and commercialization of ACER-001 in the Acer Territory and the payment of 60% net profit from that territory (together, the “Services”). The stand-alone selling price was estimated for each distinct unit of account utilizing an estimate of discounted cashflows associated with each. The Company determined that the transaction price at the outset of the Collaboration Agreement was $25.0 million, including the Option Fee of $1.0 million, the Reimbursement Payment of $14.0 million, and the First Development Payment of $10.0 million. The Company concluded that consistent with the evaluation of variable consideration, using the most likely amount approach, the Second Development Payment as well as the milestone payments for EU marketing approvals, should be fully constrained until the contingency associated with each payment has been resolved and the Company’s NDA is accepted for review by the FDA, and Relief receives EU marketing approval, respectively. Since ASC 808 does not provide recognition and measurement guidance for collaborative arrangements, the Company applied the principles of ASC 606 for those units of account where Relief is a customer and ASC 730-20 for the funded research and development activities. The license revenue was recognized at the point where the Company determined control was transferred to the customer. The combined unit of account for the Services associated with the allocation of the initial transaction price will be recognized over the service period through the anticipated date of first commercial sale of the ACER-001 approved product in the U.S. The Company also determined that the Services associated with the allocation of the initial transaction price would be satisfied over time as measured using actual costs as incurred by the Company toward the identified development and commercialization services agreed to between the parties up to the point of first commercial sale of the ACER-001 product. Research and development expenses and general and administrative expenses, as they relate to activities governed by the Collaboration Agreement, incurred in satisfying the Services unit-of-account will be recognized as contra-expense within their respective categories, consistent with the presentation guidance in ASC Topic 730, Research and Development The Company recognizes a receivable under the Collaboration Agreement when the consideration to be received is deemed unconditional, or when only the passage of time is required before payment of that consideration is due. Amounts receivable under the Collaboration Agreement plus payments received from Relief, net of the amounts recorded as license revenue and as offsets to research and development expenses and to general and administrative expenses, are reported as deferred collaboration funding. At September 30, 2022, the amount of deferred collaboration funding associated with unsatisfied promises under the Collaboration Agreement amounted to $10.6 million. The Company has recorded $10.6 million as a current liability, which equates to the Company’s estimate of remaining spending under the Collaboration Agreement and which the Company estimates will be recognized within the next 12 months up to the point of the first commercial sale of ACER-001. The non-current liability reported as of December 31, 2021 represented the then current estimated amount that would have been taken against future net profit payments made to Relief should they have occurred. The Company expects to recognize this deferred collaboration funding as it incurs expenses associated with performing the Services up to the date of first commercial sale in the Acer Territory and through the end of the effective date of the Collaboration Agreement. At September 30, 2022, deferred collaboration funding was composed of $35.0 million received from Relief, offset by $1.3 million recognized as license revenue during the year ended December 31, 2021 and $12.9 million recorded as an offset to research and development expenses and $10.3 million recorded as an offset to general and administrative expenses subsequent to signing the Collaboration Agreement and through the date of this report.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At September 30, 2022 and December 31, 2021, the Company had $6.1 million and $12.5 million, respectively, in excess of the FDIC insured limit. Under the Bridge Loan as amended, the Company’s minimum cash requirement is such that its consolidated unencumbered liquid assets must not be less than the lesser of (a) the outstanding principal amount of the Bridge Loan, or (b) $1.5 million; provided, that such $1.5 million amount automatically increases to (i) $4.0 million 20 days following a Liquidity Trigger Date, if any, and (ii) $6.5 million 40 days following a Liquidity Trigger Date, if any, with “Liquidity Trigger Date” meaning the date, if any, on which each of the following conditions exists: (1) the Company has received a second Complete Response Letter from the FDA in relation to ACER-001; (2) the Company’s Board of Directors has determined that discontinuation of the development program for ACER-801 is warranted based upon a serious adverse event or a lack of efficacy in the results from a completed Phase 2a trial; and (3) the Company shall have failed to enter into arrangements prior to December 31, 2022 involving rights to EDSIVO™ which result in at least a specified threshold of upfront or near-term payments to the Company. The Company recognized a $4.0 million non-cash reduction in a secured loan from Relief during the nine months ended September 30, 2021, since the Reimbursement Payment from Relief was received net of the amount of principal and interest due in connection with the secured loan.
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC Topic 820, Fair Value Measurement ASC 820 identifies fair value as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a three-tier fair value hierarchy that distinguishes among the following: • Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2—Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and models for which all significant inputs are observable, either directly or indirectly. • Level 3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Financial instruments consist of cash equivalents , collaboration receivable, accounts payable, accrued expenses, and debt instruments. These financial instruments are stated at their respective historical carrying amounts, which approximate fair value due to their short-term nature, except for cash equivalents and debt instruments, which were marked to market at the end of each reporting period. See Note 7 for additional information on the fair value of the debt liabilities. The Company elected the fair value option for both its Bridge Loan and its Secured Convertible Notes dated March 14, 2022 (see Note 7). The Company adjusts both the Bridge Loan and the Secured Convertible Notes to fair value through the change in fair value of debt in the accompanying unaudited condensed statements of operations. Subsequent unrealized gains and losses on items for which the fair value option is elected are reported in the accompanying unaudited condensed statement of operations.
Debt	Debt Convertible notes are regarded as compound instruments, consisting of a liability component and an equity component. The Company determined that it is eligible for the fair value option election in connection with the Bridge Loan and the Secured Convertible Notes. Each instrument met the definition of a “recognized financial liability” which is an acceptable financial instrument eligible for the fair value option under ASC 825-10-15-4 and do not meet the definition of any of the financial instruments found within ASC 825-10-15-5 that are not eligible for the fair value option
Research and Development Expenses	Research and Development Expenses Research and development costs are expensed as incurred and include compensation and related benefits, license fees and third-party contracted research and manufacturing consultants. The Company sometimes makes nonrefundable advance payments for goods and services that will be used in future research and development activities. These payments are capitalized and recorded as an expense in the period that the goods are received or that the services are performed. From time to time, in connection with the Collaboration Agreement with Relief, the Company may recognize “contra-expense” for the research and development activities which were funded by the Collaboration Agreement. These contra-expense amounts are disclosed parenthetically on the face of the financial statements.
General and Administrative Expenses	General and Administrative Expenses General and administrative expenses consist primarily of employee-related expenses, including salaries, benefits, and stock-based compensation; precommercial costs; and professional fees for legal, business consulting, auditing, and tax services. The Company expects that general and administrative expenses will be substantial in the future. From time to time, in connection with the Collaboration Agreement with Relief, the Company may recognize “contra-expense” for the general and administrative activities which were funded by the Collaboration Agreement. These contra-expense amounts are disclosed parenthetically on the face of the financial statements.
Clinical Trial and Preclinical Study Expenses	Clinical Trial and Preclinical Study Expenses The Company makes estimates of prepaid and/or accrued expenses as of each balance sheet date in its financial statements based on certain facts and circumstances at that time. The Company’s accrued expenses for preclinical studies and clinical trials are based on estimates of costs incurred for services provided by contract research organizations (“CROs”), manufacturing organizations, and for other trial- and study-related activities. Payments under the Company’s agreements with external service providers depend on a number of factors such as site initiation, patient screening, enrollment, delivery of reports, and other events. In accruing for these activities, the Company obtains information from various sources and estimates the level of effort or expense allocated to each period. Adjustments to research and development expenses may be necessary in future periods as the Company’s estimates change. As these activities are generally material to the Company’s financial statements, subsequent changes in estimates may result in a material change in the Company’s accruals. No material changes in estimates were recognized in either of the three or nine months ended September 30, 2022 or 2021. Accounts payable and accrued expenses include costs associated with preclinical or clinical studies of $1.0 million and $0.2 million at September 30, 2022 and December 31, 2021, respectively.
Stock-Based Compensation	Stock-Based Compensation The Company records stock-based payments at fair value. The measurement date for compensation expense related to awards is generally the date of the grant. The fair value of awards is recognized as an expense in the condensed statements of operations over the requisite service period, which is generally the vesting period. The fair value of options is calculated using the Black-Scholes option pricing model. A limited number of option grants are periodically made to non-employee contractors, and the Company utilizes the simplified method to value these awards. This option valuation model requires the use of assumptions including, among others, the volatility of stock price, the expected term of the option, and the risk-free interest rate. The following assumptions were used to estimate the fair value of stock options granted during the nine months ended September 30, 2022 and 2021 using the Black-Scholes option pricing model: 2022 2021 Risk-free interest rate 1.18%-2.95% 0.37%- 0.84% Expected life (years) 6.25 6.25 Expected volatility 112.0% - 115.0% 92.4% Dividend rate 0% 0% Due to its limited operating history and a limited trading history of its common stock in relation to the life of its standard option grants, the Company estimates the volatility of its stock in consideration of a number of factors including the Company’s available stock price history and the stock price volatility of comparable public companies. The expected term of a stock option granted to employees and directors (including non-employee directors) is based on the average of the contractual term (generally ten years) and the vesting period. The assumed dividend yield is based upon the Company’s expectation of not paying dividends in the foreseeable future. The Company recognizes forfeitures related to employee stock-based awards as they occur. The risk-free rate for periods within the expected life of the option is based upon the U.S. Treasury yield curve in effect at the time of grant. Option awards are granted at an exercise price equal to the closing market price of the Company’s common stock on the Nasdaq Capital Market on the date of grant.
Goodwill	Goodwill Goodwill represents the excess of the purchase price (consideration paid plus net liabilities assumed) of an acquired business over the fair value of the underlying net tangible and intangible assets. The Company’s goodwill is allocated to the Company’s single reporting unit. The Company evaluates the recoverability of goodwill according to ASC Topic 350, Intangibles – Goodwill and Other
Foreign Currency Transactions Gain/(Loss)	Foreign Currency Transaction Gain/(Loss) Gains and losses arising from transactions and revaluation of balances denominated in currencies other than U.S. dollars are recorded in foreign currency transaction gain/(loss) on the statements of operations.
Income Taxes	Income Taxes The Company recorded no income tax expense or benefit during the three or nine months ended September 30, 2022 and 2021, due to a full valuation allowance recognized against its net deferred tax assets. A valuation allowance is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Accordingly, the Company provides a valuation allowance, if necessary, to reduce deferred tax assets to amounts that are realizable. Utilization of net operating losses may be subject to substantial annual limitations due to the “change in ownership” provisions of the Internal Revenue Code of 1986, and similar state provisions. The annual limitations may result in the expiration of net operating losses before utilization. The tax positions taken or expected to be taken in the course of preparing the Company’s tax returns are required to be evaluated to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet a more-likely-than-not threshold would be recorded as a tax expense in the current year. There were no uncertain tax positions that require accrual or disclosure in the financial statements as of September 30, 2022 and 2021 . The Company’s policy is to recognize interest and penalties related to income tax, if any, in income tax expense. As of September 30, 2022 and 2021 , the Company had no accruals for interest or penalties related to income tax matters. The Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was enacted in the U.S. on March 27, 2020 . The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. The Company is required to recognize the effects of tax law changes in the period of enactment. The enactment of the CARES Act did not result in material adjustments for the income tax provision for the three or nine months ended or to the Company’s assessment of the realizability of deferred tax assets as the carry back of net operating losses was used as a source of income. There were no other effects to the Company’s tax provision as a result of the CARES Act as of September 30, 2022.
Basic and Diluted Net Loss per Common Share	Basic and Diluted Net Loss per Common Share Basic and diluted net loss per common share is computed using the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed using the sum of the weighted average number of common shares outstanding during the period and, in those instances where it would be dilutive, the weighted average number of potential shares of common stock, including the assumed exercise of stock options and warrants, the impact of unvested restricted stock, and the potential shares assuming conversion of convertible debt. Basic and diluted shares outstanding are the same for each period presented when all common stock equivalents, including potential shares from convertible debt and warrants, would be antidilutive due to the net losses incurred, except in certain instances as noted below. The two-class method is an earnings allocation formula that treats a participating security, such as a warrant, as having rights to earnings that otherwise would have been available to common stockholders. However, the two-class method does not impact the net loss per share of common stock as the Company has been in a net loss position and while our warrants are considered a participating security, the terms of the warrant agreement does not obligate them to participate in losses. Diluted net income per share is computed using the more dilutive of (a) the two-class method or (b) the if-converted method or treasury stock method, as applicable, to the potentially dilutive instruments. A contract that may be settled in shares and is reported as an asset or liability for accounting purposes may require an adjustment to the numerator for any changes in income or loss that would result if the contract had been reported as an equity instrument for accounting purposes during the period, and doing so is dilutive to the net loss per share calculation (including as a result of the inclusion of underlying shares in the net loss per share calculation).
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) The Company early adopted ASU No. 2020-06 in the first quarter of 2021. See Note 6 regarding the Secured Convertible Notes which were recognized in the first quarter of 2022 consistent with the adoption of this guidance. In May 2021, the FASB issued ASU No. 2021-04 , Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force), which clarifies and reduces diversity in issuers’ accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. The Company adopted ASU No. 2021-04 in the first quarter of 2022. There was no impact on the Company’s financial statements or disclosures as a result of the adoption of this guidance. In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of Estimate Fair Value of Stock Options Granted	The following assumptions were used to estimate the fair value of stock options granted during the nine months ended September 30, 2022 and 2021 using the Black-Scholes option pricing model: 2022 2021 Risk-free interest rate 1.18%-2.95% 0.37%- 0.84% Expected life (years) 6.25 6.25 Expected volatility 112.0% - 115.0% 92.4% Dividend rate 0% 0%

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2022
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following at September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Computer hardware and software $ 142,870 $ 113,847 Leasehold improvements 52,887 60,535 Furniture and fixtures 111,603 145,487 Subtotal property and equipment, gross 307,360 319,869 Less accumulated depreciation (214,858 ) (205,757 ) Property and equipment, net $ 92,502 $ 114,112

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Accounts Payable And Accrued Liabilities Current [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following at September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Accrued payroll and payroll taxes $ 2,552,744 $ 419,354 Accrued contract manufacturing 368,180 827,390 Accrued contract research and regulatory consulting 312,197 47,637 Accrued precommercial costs 236,569 395,923 Accrued accounting, audit, and tax fees 159,292 167,630 Accrued legal 91,574 162,812 Accrued license fees 74,125 86,259 Accrued miscellaneous expenses 39,204 216,103 Accrued consulting 24,850 105,085 Total accrued expenses $ 3,858,735 $ 2,428,193

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Reconciliation of Undiscounted Lease Liabilities to Total Lease Liabilities	The following table reconciles the undiscounted lease liabilities to the total lease liabilities recognized on the unaudited condensed balance sheet as of September 30, 2022: Undiscounted lease liabilities for years ending December 31,: 2022 (remaining) $ 41,387 2023 103,925 2024 107,290 2025 54,579 Total undiscounted lease liabilities 307,181 Less effects of discounting (21,464 ) Total lease liabilities as of September 30, 2022 $ 285,717 The Company’s lease liabilities are reported on the unaudited condensed balance sheets as follows: September 30, 2022 December 31, 2021 Other current liabilities $ 118,396 $ 184,340 Other non-current liabilities 167,321 209,497 Total lease liabilities $ 285,717 $ 393,837

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	The following table presents the Company’s assets and liabilities that are measured and recognized at fair value on a recurring basis classified under the appropriate level of the fair value hierarchy as of September 30, 2022. As of September 30, 2022 Fair Value Measurements As of September 30, 2022 Carrying Amount Fair Value Level 1 Level 2 Level 3 Assets: Money Market Funds in Cash Equivalents $ 5,877,923 $ 5,877,923 $ 5,877,923 $ — $ — Liabilities: Debt: Secured Convertible Notes $ 3,603,000 $ 3,603,000 $ — $ — $ 3,603,000 Bridge Loan $ 4,478,359 $ 4,478,359 $ — $ — $ 4,478,359 $ 8,081,359 $ 8,081,359 $ — $ — $ 8,081,359
Schedule of Change in Fair Value	The significant unobservable inputs used in calculating the fair value of the Secured Convertible Notes and Bridge Loan represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. Any significant changes in the inputs described herein may result in significantly higher or lower fair value measurements. The Company recognized an increase in the fair value of the Bridge Loan of $0.4 million during the three months ended September 30, 2022 and a decrease of $1.7 million during the nine months ended September 30, 2022, through non-operating income in the statement of operations. During the three and nine months ended September 30, 2022, the Company recognized a decrease in the fair value of the Secured Convertible Notes of $0.7 million and $2.4 million, respectively, through non-operating income in the statement of operations. December 31, 2021 Loan Received Payments Accretion/ Interest Accrued Adjustment to Fair Value Mark to Market September 30, 2022 Secured Convertible Notes $ — $ 6,000,000 $ — $ — $ (2,397,000 ) $ 3,603,000 Bridge Loan $ — $ 6,172,969 $ — $ — $ (1,694,610 ) $ 4,478,359 $ — $ 12,172,969 $ — $ — $ (4,091,610 ) $ 8,081,359

Stockholders' (Deficit) Equity

Stockholders' (Deficit) Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Summary of Option Activity under 2018 Plan, 2013 Plan and 2010 Plan	A summary of option activity under the 2018 Plan, 2013 Plan, and 2010 Plan for the nine months ended September 30, 2022, is as follows: Year-to-Date Activity Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in Millions) Options outstanding at December 31, 2021 1,954,975 $ 8.16 7.8 Granted 960,500 $ 2.33 Cancelled/forfeited (85,000 ) $ 3.75 Options outstanding at September 30, 2022 2,830,475 $ 6.32 7.8 $ — Options exercisable at September 30, 2022 1,398,730 $ 9.64 6.5 $ —
Summary of Stock-Based Compensation Expense	The fair value of shares vested during the three and nine months ending September 30, 2022 was $0.4 million and $1.9 million, respectively. The fair value of shares vested during the three and nine months ending September 30, 2021 was $0.5 million and $1.6 million, respectively. The amount of stock-based compensation expense recorded to research and development expenses and to general and administrative expenses is detailed in table below: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock-based compensation Research and development $ 160,316 $ 183,505 $ 459,636 $ 528,385 General and administrative 299,799 416,508 935,353 1,226,027 Total stock-based compensation expense $ 460,115 $ 600,013 $ 1,394,989 $ 1,754,412
Summary of Warrants Issued	Nine Months Ended September 30, 2022 2021 Number Weighted Average Exercise Price Number Weighted Average Exercise Price Outstanding at beginning of the period — $ — — — Granted during the period 250,000 2.08 — — Outstanding at end of the period 250,000 $ 2.08 — $ — Exercisable at end of the period 250,000 $ 2.08 — $ — Weighted average remaining life 6.5 years —

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Numerator and Denominator used in Calculation of Basic and Diluted Net Loss Per Common Share	For the Three Months Ended September 30, 2022 For the Nine Months Ended September 30, 2022 Numerator: Net loss $ (5,006,945 ) $ (16,852,985 ) Denominator: Basic: Weighted average shares of common stock outstanding 16,089,019 15,230,839 Diluted: Weighted average shares of common stock outstanding 16,089,019 15,230,839 Effect of potentially dilutive shares (1) 0 1,854,945 Total weighted average shares of common stock and potentially dilutive shares 16,089,019 17,085,784 Net loss per common share: Basic: Net loss applicable to common stockholders $ (5,006,945 ) $ (16,852,985 ) Weighted average shares of stock outstanding, basic 16,089,019 15,230,839 Basic net loss per common share $ (0.31 ) $ (1.11 ) Diluted: Net loss applicable to common shareholders, diluted (1) $ (5,006,945 ) $ (19,249,985 ) Weighted average shares of stock outstanding, diluted 16,089,019 17,085,784 Diluted net loss per common share $ (0.31 ) $ (1.13 ) (1) In calculating diluted net loss per share, we excluded the impact of changes in the fair value of the Secured Convertible Notes of $2.4 million for the nine months ended September 30, 2022. The 1,854,945 shares for the nine months ended September 30, 2022 are the weighted average shares associated with the original principal amount of the Secured Convertible Notes.
Schedule of Number of Shares of Common Stock Underlying Potentially Dilutive Securities Excluded From Calculation of Diluted Net Loss Per Share	As of September 30, 2022 and 2021, the number of shares of common stock underlying potentially dilutive securities excluded from the calculation of diluted net loss per share, because the company’s net loss meant that their inclusion would have been antidilutive for those periods, consist of: September 30, 2022 2021 Options to purchase common stock 2,830,475 1,908,975 SWK Warrants 250,000 — Total 3,080,475 1,908,975

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation - Additional Information (Details) - USD ($)

3 Months Ended

9 Months Ended

Mar. 14, 2022

Mar. 04, 2022

Jan. 14, 2022

Oct. 12, 2021

Mar. 19, 2021

Jan. 25, 2021

Apr. 30, 2020

Mar. 18, 2020

Nov. 09, 2018

Sep. 30, 2022

Jun. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Aug. 19, 2022

Mar. 31, 2022

Dec. 31, 2021

Oct. 04, 2021

Organization Consolidation and Presentation of Financial Statement [Line Items]

Accumulated deficit

$ 131,362,939

$ 131,362,939

$ 114,509,954

Cash and cash equivalents

6,377,923

6,377,923

12,710,762

Net cash used in operating activities

(21,953,658)

$ 1,285,339

Proceeds from issuance of common stock, net of issuance costs

4,524,853

3,139,047

Reimbursement payment

$ 14,000,000

Development payments

10,000,000

Threshold equity value as per Nasdaq capital market listing standards

2,500,000

Threshold market value as per Nasdaq capital market listing standards

35,000,000

Threshold net income from continuing operations as per Nasdaq capital market listing standards

$ 500,000

Threshold number of business days for market value of listed securities

P30D

Threshold number of calendar days to regain compliance

P180D

Current liabilities

20,793,741

$ 20,793,741

$ 29,109,950

Deferred collaboration funding

$ 10,600,000

$ 10,600,000

Lincoln Park

Organization Consolidation and Presentation of Financial Statement [Line Items]

Issuance of common stock, net of issuance costs, shares

350,000

650,000

Proceeds from issuance of common stock, net of issuance costs

$ 500,000

$ 900,000

Proceeds from issuance of common stock gross

500,000

900,000

Remaining obligation

11,300,000

11,300,000

Number of shares, company may sell on any single business day

50,000

Maximum amount of Common stock at time of sale, per regular purchase

$ 1,000,000

Stock to be issued value on certain limitation and condition

11,300,000

Proposed Collaboration and License Agreement

Organization Consolidation and Presentation of Financial Statement [Line Items]

Upfront non-refundable payment received

1,000,000

Proposed Collaboration and License Agreement | Relief Therapeutics Holding AG

Organization Consolidation and Presentation of Financial Statement [Line Items]

Upfront non-refundable payment received

$ 1,000,000

Proposed Collaboration and License Agreement | Secured Loan | Relief Therapeutics Holding AG

Organization Consolidation and Presentation of Financial Statement [Line Items]

Debt instrument, term

12 months

Debt instrument, principal amount

$ 4,000,000

Debt instrument, interest rate

6%

Collaboration Agreement | Second Development Payment

Organization Consolidation and Presentation of Financial Statement [Line Items]

Deferred collaboration funding

10,600,000

10,600,000

Collaboration Agreement | Relief Therapeutics Holding AG

Organization Consolidation and Presentation of Financial Statement [Line Items]

Upfront non-refundable payment received

$ 1,000,000

Cash payment received

10,000,000

$ 10,000,000

Repayment of outstanding balance of prior loan and interest

4,000,000

4,000,000

Reimbursement payment

$ 14,000,000

$ 14,000,000

Potential proceeds from development payments subject to new drug application

$ 10,000,000

Proceeds from first tranche of development payments subject to new drug application

$ 5,000,000

Net profit split ratio based on territory

60%

60%

Net profit split ratio

60%:40%

Percentage of royalty net sales received

15%

15%

Milestone payment to be received

$ 6,000,000

$ 6,000,000

Collaboration Agreement | Relief Therapeutics Holding AG | First Development Payment

Organization Consolidation and Presentation of Financial Statement [Line Items]

Development payments subject new drug application

$ 10,000,000

Collaboration Agreement | Relief Therapeutics Holding AG | Second Development Payment

Organization Consolidation and Presentation of Financial Statement [Line Items]

Potential proceeds from development payments subject to new drug application

$ 10,000,000

Proceeds from first tranche of development payments subject to new drug application

5,000,000

Collaboration Agreement | Secured Loan | Relief Therapeutics Holding AG

Organization Consolidation and Presentation of Financial Statement [Line Items]

Debt instrument, term

12 months

Debt instrument, principal amount

$ 4,000,000

Debt instrument, interest rate

6%

Waiver and Agreement | Relief Therapeutics Holding AG

Organization Consolidation and Presentation of Financial Statement [Line Items]

Proceeds from second tranche of development payments subject to new drug application

5,000,000

Waiver and Agreement | Relief Therapeutics Holding AG | Second Development Payment

Organization Consolidation and Presentation of Financial Statement [Line Items]

Proceeds from first tranche of development payments subject to new drug application

$ 5,000,000

5,000,000

Proceeds from second tranche of development payments subject to new drug application

$ 5,000,000

SWK Credit Agreement | Bridge Loan | Lenders Party and SWK Funding LLC

Organization Consolidation and Presentation of Financial Statement [Line Items]

Debt instrument, principal amount

$ 6,500,000

Debt instrument, interest rate, increase

3%

Minimum cash balance required by the loan covenants

$ 4,000,000

$ 4,000,000

Origination fees

$ 100,000

Warrant issued to purchase common stock

150,000

100,000

Warrant, exercise price

$ 2.46

$ 1.51

SWK Credit Agreement | Bridge Loan | Lenders Party and SWK Funding LLC | If ACER-001 Approval does not Occur on or Before September 30, 2022

Organization Consolidation and Presentation of Financial Statement [Line Items]

Debt instrument, maturity date

Mar. 04, 2024

Debt instrument repayment percentage on outstanding principal amount

150%

SWK Credit Agreement | Bridge Loan | Lenders Party and SWK Funding LLC | Remainder of the Time Till Bridge Loan is Outstanding

Organization Consolidation and Presentation of Financial Statement [Line Items]

Minimum cash balance required by the loan covenants

$ 6,500,000

SWK Credit Agreement | Bridge Loan | Lenders Party and SWK Funding LLC | LIBOR

Organization Consolidation and Presentation of Financial Statement [Line Items]

Debt instrument, interest rate

1%

Debt instrument, description of variable rate basis

3-month LIBOR

Debt instrument, periodic payment, principal

$ 700,000

Debt instrument, frequency of periodic payment

quarterly

Debt instrument, basis spread on variable rate

11%

Loan repayment commencing date

Feb. 15, 2023

Secured Convertible Note Purchase Agreement | Secured Convertible Notes | MAM Aardvark, LLC and Marathon Healthcare Finance Fund, L.P.

Organization Consolidation and Presentation of Financial Statement [Line Items]

Debt instrument, principal amount

$ 6,000,000

Debt instrument, interest rate

6.50%

Debt instrument, frequency of periodic payment

quarterly

Debt instrument, interest rate, increase

11.50%

Conversion price

$ 2.50

Marathon Credit Agreement | Term Loan | Lender Party and Marathon

Organization Consolidation and Presentation of Financial Statement [Line Items]

Debt instrument, principal amount

$ 42,500,000

Debt instrument, interest rate

13.50%

Debt instrument, frequency of periodic payment

quarterly

Debt instrument, maturity date

Dec. 31, 2028

Percentage of commitment fee

1.50%

Line of credit facility, maximum borrowing capacity

$ 92,500,000

Line of credit facility, additional borrowing capacity

$ 50,000,000

Percentage of option to capitalize

4%

Debt instrument amortization percentage

2.78%

Debt instrument, maturity date, description

The final maturity date of the Term Loan would be the earlier of six years after the Term Loan Funding Date or December 31, 2028.

Percentage of prepayment, prior to March 4, 2025

5%

Percentage of prepayment, on or after March 4, 2025, but prior to March 4, 2026

3%

Percentage of prepayment, on or after March 4, 2026, but prior to March 4, 2027

2%

Percentage of prepayment, on or after March 4, 2027

1%

Payment for commitment fees

$ 200,000

Payment for additional commitment fees

$ 600,000

Percentage of aggregate revenue as royalty payments

2%

Royalty payments on aggregate revenue cap amount

$ 15,000,000

Minimum | Bridge Loan

Organization Consolidation and Presentation of Financial Statement [Line Items]

Number of days required for cash balance

40 days

Minimum | SWK Credit Agreement | Bridge Loan | Lenders Party and SWK Funding LLC

Organization Consolidation and Presentation of Financial Statement [Line Items]

Number of days required for cash balance

20 days

Weighted Average | Lincoln Park

Organization Consolidation and Presentation of Financial Statement [Line Items]

Issuance of common stock, gross sale price per share

$ 1.39

$ 1.32

Maximum | Lincoln Park

Organization Consolidation and Presentation of Financial Statement [Line Items]

Shares value might be issued under agreement

$ 15,000,000

Number of shares, company may sell on any single business day

100,000

Maximum | Collaboration Agreement | Relief Therapeutics Holding AG

Organization Consolidation and Presentation of Financial Statement [Line Items]

Development payments

$ 20,000,000

At-the-Market Facility

Organization Consolidation and Presentation of Financial Statement [Line Items]

Remained available under facility

$ 36,200,000

$ 36,200,000

Common stock offering costs

$ 100,000

$ 200,000

Issuance of common stock, net of issuance costs, shares

350,820

1,413,367

877,107

Proceeds from issuance of common stock, net of issuance costs

$ 3,700,000

$ 2,600,000

Proceeds from issuance of common stock gross

$ 500,000

$ 3,800,000

$ 2,800,000

At-the-Market Facility | Weighted Average

Organization Consolidation and Presentation of Financial Statement [Line Items]

Issuance of common stock, gross sale price per share

$ 1.5223

$ 2.6872

$ 3.1692

At-the-Market Facility | Maximum

Organization Consolidation and Presentation of Financial Statement [Line Items]

Aggregate offering price of common stock

$ 50,000,000

$ 50,000,000

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Details) - USD ($)

3 Months Ended

9 Months Ended

12 Months Ended

Aug. 19, 2022

Jan. 14, 2022

Oct. 12, 2021

Mar. 19, 2021

Jan. 25, 2021

Sep. 30, 2022

Sep. 30, 2021

Jun. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Dec. 31, 2021

Oct. 04, 2021

Schedule Of Significant Accounting Policies [Line Items]

Upfront nonrefundable payment

$ 1,000,000

Loan in principal amount

$ 4,000,000

Issuance and bore interest rate

6%

Reimbursement payment

$ 14,000,000

Collaboration agreement amount

25,000,000

Development payments

10,000,000

Deferred collaboration funding

$ 10,600,000

$ 10,600,000

Deferred collaboration funding, current

10,598,201

10,598,201

$ 15,825,938

Cash in excess of FDIC insured limit

6,100,000

6,100,000

12,500,000

Preclinical or clinical study expense included in accounts payable and accrued expenses.

1,000,000

1,000,000

200,000

Income tax expense (benefit)

0

$ 0

0

$ 0

Uncertain tax positions, accruals

0

0

0

0

Accruals for interest or penalties related to income tax matters

$ 0

$ 0

$ 0

$ 0

ASU No. 2020-06

Schedule Of Significant Accounting Policies [Line Items]

Change in accounting principle, accounting standards update, adopted

true

true

Change in accounting principle, accounting standards update, adoption date

Mar. 31, 2021

Mar. 31, 2021

ASU No. 2021-10

Schedule Of Significant Accounting Policies [Line Items]

Change in accounting principle, accounting standards update, adopted

true

true

Change in accounting principle, accounting standards update, adoption date

Dec. 31, 2021

Dec. 31, 2021

Change in accounting principle, accounting standards update, immaterial effect

true

true

ASU No. 2021-04

Schedule Of Significant Accounting Policies [Line Items]

Change in accounting principle, accounting standards update, adopted

true

true

Change in accounting principle, accounting standards update, adoption date

Mar. 31, 2022

Mar. 31, 2022

Change in accounting principle, accounting standards update, immaterial effect

true

true

Maximum

Schedule Of Significant Accounting Policies [Line Items]

Cash, FDIC insured amount

$ 250,000

$ 250,000

Bridge Loan

Schedule Of Significant Accounting Policies [Line Items]

Minimum cash balance required by the loan covenants

$ 1,500,000

Bridge Loan | 20 Days Following Liquidity Trigger Date

Schedule Of Significant Accounting Policies [Line Items]

Minimum cash balance required by the loan covenants

4,000,000

Bridge Loan | 40 Days Following Liquidity Trigger Date

Schedule Of Significant Accounting Policies [Line Items]

Minimum cash balance required by the loan covenants

$ 6,500,000

Bridge Loan | Minimum | 20 Days Following Liquidity Trigger Date

Schedule Of Significant Accounting Policies [Line Items]

Number of days required for cash balance

20 days

Bridge Loan | Minimum | 40 Days Following Liquidity Trigger Date

Schedule Of Significant Accounting Policies [Line Items]

Number of days required for cash balance

40 days

Relief

Schedule Of Significant Accounting Policies [Line Items]

Non-cash reduction recognized in secured loan

4,000,000

Collaboration Agreement | Second Development Payment

Schedule Of Significant Accounting Policies [Line Items]

Deferred collaboration funding

10,600,000

10,600,000

Deferred collaboration funding, current

10,600,000

10,600,000

Deferred collaboration funding, cash received

$ 35,000,000

35,000,000

Revenue recognized

$ 1,300,000

Offset to research and development expenses

12,900,000

Offset to general and administrative expenses

$ 10,300,000

Collaboration Agreement | Relief

Schedule Of Significant Accounting Policies [Line Items]

Cash payment received

10,000,000

$ 10,000,000

Reimbursement payment

14,000,000

$ 14,000,000

Repayment of outstanding balance of prior loan and interest

4,000,000

$ 4,000,000

Development and commercial launch costs

$ 20,000,000

Net profit split ratio based on territory

60%

60%

Percentage of royalty net sales received

15%

15%

Milestone payment to be received

$ 6,000,000

$ 6,000,000

Potential proceeds from development payments subject to new drug application

$ 10,000,000

Proceeds from first tranche of development payments subject to new drug application

$ 5,000,000

Percentage of development and commercialization services

60%

Percentage of payment net profit territory

60%

Upfront non-refundable payment received

1,000,000

Collaboration Agreement | Relief | Maximum

Schedule Of Significant Accounting Policies [Line Items]

Development and commercial launch costs

20,000,000

Development payments

$ 20,000,000

Collaboration Agreement | Relief | Second Development Payment

Schedule Of Significant Accounting Policies [Line Items]

Potential proceeds from development payments subject to new drug application

$ 10,000,000

Proceeds from first tranche of development payments subject to new drug application

5,000,000

Waiver and Agreement | Relief | Second Development Payment

Schedule Of Significant Accounting Policies [Line Items]

Proceeds from first tranche of development payments subject to new drug application

$ 5,000,000

$ 5,000,000

Proposed Collaboration and License Agreement

Schedule Of Significant Accounting Policies [Line Items]

Upfront non-refundable payment received

$ 1,000,000

Proposed Collaboration and License Agreement | Relief

Schedule Of Significant Accounting Policies [Line Items]

Upfront non-refundable payment received

$ 1,000,000

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Estimate Fair Value of Stock Options Granted (Details)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Schedule Of Significant Accounting Policies [Line Items]
Risk-free interest rate, minimum	1.18%	0.37%
Risk-free interest rate, maximum	2.95%	0.84%
Expected life (years)	6 years 3 months	6 years 3 months
Expected volatility		92.40%
Dividend rate	0%	0%
Minimum
Schedule Of Significant Accounting Policies [Line Items]
Expected volatility	112%
Maximum
Schedule Of Significant Accounting Policies [Line Items]
Expected volatility	115%

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Subtotal property and equipment, gross	$ 307,360	$ 319,869
Less accumulated depreciation	(214,858)	(205,757)
Property and equipment, net	92,502	114,112
Computer Hardware and Software
Property Plant And Equipment [Line Items]
Subtotal property and equipment, gross	142,870	113,847
Leasehold Improvements
Property Plant And Equipment [Line Items]
Subtotal property and equipment, gross	52,887	60,535
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Subtotal property and equipment, gross	$ 111,603	$ 145,487

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Accounts Payable And Accrued Liabilities Current [Abstract]
Accrued payroll and payroll taxes	$ 2,552,744	$ 419,354
Accrued contract manufacturing	368,180	827,390
Accrued contract research and regulatory consulting	312,197	47,637
Accrued precommercial costs	236,569	395,923
Accrued accounting, audit, and tax fees	159,292	167,630
Accrued legal	91,574	162,812
Accrued license fees	74,125	86,259
Accrued miscellaneous expenses	39,204	216,103
Accrued consulting	24,850	105,085
Total accrued expenses	$ 3,858,735	$ 2,428,193

Leases - Additional Information

Leases - Additional Information (Details)

1 Months Ended

3 Months Ended

9 Months Ended

Nov. 17, 2021

Oct. 15, 2021

Jun. 30, 2022

Sep. 30, 2022 USD ($) ft²

Sep. 30, 2021 USD ($)

Sep. 30, 2022 USD ($) ft²

Sep. 30, 2021 USD ($)

Dec. 31, 2021 USD ($)

Apr. 23, 2019 ft²

Mar. 05, 2019 ft²

Apr. 01, 2018 ft²

Mar. 06, 2018 ft²

Lessee Lease Description [Line Items]

Operating lease right of use asset | $

$ 300,000

$ 300,000

$ 400,000

Operating lease liability | $

$ 285,717

$ 285,717

$ 393,837

Operating lease discount rate

8%

8%

10%

Operating lease, weighted average remaining lease term

2 years 7 months 6 days

2 years 7 months 6 days

Operating lease, cash payment made | $

$ 27,000

$ 100,000

$ 200,000

$ 200,000

Operating lease expense | $

$ 44,000

$ 100,000

$ 200,000

$ 200,000

Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]

Other non-current assets

Other non-current assets

Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]

us-gaap:OtherLiabilities

us-gaap:OtherLiabilities

Newton Lease

Lessee Lease Description [Line Items]

Lease expiration date

May 31, 2022

Newton Lease | Newton, Massachusetts

Lessee Lease Description [Line Items]

Lease agreement date

Mar. 06, 2018

Lease commencement date

Oct. 01, 2018

Square feet of office space leased

2,760

Additional Newton Lease

Lessee Lease Description [Line Items]

Lease expiration date

Dec. 31, 2022

Additional Newton Lease | Newton, Massachusetts

Lessee Lease Description [Line Items]

Lease agreement date

Mar. 05, 2019

Lease commencement date

Jun. 01, 2019

Square feet of office space leased

1,600

Amendment of Newton Lease

Lessee Lease Description [Line Items]

Reduced area of land

1,600

1,600

Amendment of Newton Lease | Newton, Massachusetts

Lessee Lease Description [Line Items]

Lease agreement date

Oct. 15, 2021

Bend Lease | Oregon

Lessee Lease Description [Line Items]

Lease agreement date

Apr. 01, 2018

Square feet of office space leased

2,288

Additional Bend Lease | Oregon

Lessee Lease Description [Line Items]

Lease agreement date

Apr. 23, 2019

Lease commencement date

May 01, 2019

Square feet of office space leased

1,389

Modified Bend Lease

Lessee Lease Description [Line Items]

Lease agreement date

Nov. 17, 2021

Lease expiration date

Jun. 30, 2022

Jun. 30, 2025

Lease, existence of option to extend

true

Lease, option to extend

On November 17, 2021, the Company entered into a lease agreement to extend the term of the Bend Lease and the Additional Bend Lease to June 30, 2022 and to further extend the term either (1) until June 30, 2027 if FDA approval of ACER-001 was received in June 2022, or (2) until June 30, 2025 if FDA approval of ACER-001 was not received in June 2022

Leases - Reconciliation of Undi

Leases - Reconciliation of Undiscounted Lease Liabilities to Total Lease Liabilities (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Undiscounted lease liabilities for years ending December 31,:
2022 (remaining)	$ 41,387
2023	103,925
2024	107,290
2025	54,579
Total undiscounted lease liabilities	307,181
Less effects of discounting	(21,464)
Total lease liabilities as of September 30, 2022	285,717	$ 393,837
Other current liabilities	$ 118,396	$ 184,340
Operating Lease Liability Current Statement Of Financial Position Extensible List	Other current liabilities	Other current liabilities
Other non-current liabilities	$ 167,321	$ 209,497
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities
Total lease liabilities	$ 285,717	$ 393,837

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)				3 Months Ended	9 Months Ended
	Aug. 19, 2022	Mar. 14, 2022	Mar. 04, 2022	Mar. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Cash and cash equivalents					$ 6,377,923	$ 12,710,762
Proceeds allocated to First SWK Warrant				$ 327,031
Debt issuance costs incurred					1,200,000
SWK Warrant
Debt Instrument [Line Items]
Fair value of warrant					300,000
Bridge Loan
Debt Instrument [Line Items]
Fair value of loan					6,200,000
Financial Advisor
Debt Instrument [Line Items]
Debt issuance costs incurred					700,000
SWK and Holders
Debt Instrument [Line Items]
Debt issuance costs incurred					500,000
Term Loan | Financial Advisor
Debt Instrument [Line Items]
Payment for funding fee for services					700,000
Bridge Loan and Convertible Note Financing | Financial Advisor
Debt Instrument [Line Items]
Payment for funding fee for services					500,000
SWK Credit Agreement | Bridge Loan
Debt Instrument [Line Items]
Principal amortization payments					$ 1,500,000
SWK Credit Agreement | Bridge Loan | Lenders Party and SWK
Debt Instrument [Line Items]
Debt instrument, principal amount			$ 6,500,000
Debt instrument, interest rate					12%
Debt instrument, interest rate, increase			3%
Debt instrument, maturity date, description					The final maturity date of the Bridge Loan is March 4, 2024.
Minimum cash balance required by the loan covenants					$ 4,000,000
Number of days required for cash balance					20 days
Cash and cash equivalents					$ 1,500,000
Origination fees		$ 100,000
SWK Credit Agreement | Bridge Loan | Lenders Party and SWK | SWK Warrant
Debt Instrument [Line Items]
Warrant issued to purchase common stock	100,000		150,000
Warrant, exercise price	$ 1.51		$ 2.46
Proceeds allocated to First SWK Warrant	$ 100,000		$ 300,000
SWK Credit Agreement | Bridge Loan | Lenders Party and SWK | If ACER-001 Approval does not Occur on or Before September 30, 2022
Debt Instrument [Line Items]
Debt instrument, maturity date			Mar. 04, 2024
Debt instrument repayment percentage on outstanding principal plus any and all paid-in-kind interest amount			150%
SWK Credit Agreement | Bridge Loan | Lenders Party and SWK | Remainder of the Time Till Bridge Loan is Outstanding
Debt Instrument [Line Items]
Minimum cash balance required by the loan covenants					$ 6,500,000
Number of days required for cash balance					40 days
SWK Credit Agreement | Bridge Loan | Lenders Party and SWK | LIBOR
Debt Instrument [Line Items]
Debt instrument, description of variable rate basis					3-month LIBOR
Debt instrument, interest rate			1%
Debt instrument, basis spread on variable rate			11%
Debt instrument, periodic payment, principal			$ 700,000
Debt instrument, frequency of periodic payment					quarterly
Loan repayment commencing date			Feb. 15, 2023
Secured Convertible Note Purchase Agreement | Secured Convertible Notes | MAM Aardvark, LLC and Marathon Healthcare Finance Fund, L.P.
Debt Instrument [Line Items]
Debt instrument, principal amount			$ 6,000,000
Debt instrument, interest rate			6.50%
Debt instrument, interest rate, increase			11.50%
Debt instrument, frequency of periodic payment					quarterly
Conversion price			$ 2.50
Marathon Credit Agreement | Term Loan | Lender Party and Marathon
Debt Instrument [Line Items]
Debt instrument, principal amount			$ 42,500,000
Debt instrument, interest rate			13.50%
Debt instrument, frequency of periodic payment					quarterly
Debt instrument, maturity date, description					The final maturity date of the Term Loan would be the earlier of six years after the Term Loan Funding Date or December 31, 2028.
Debt instrument, maturity date			Dec. 31, 2028
Commitment fee percentage on term loan amount			1.50%
Line of credit facility, maximum borrowing capacity			$ 92,500,000
Line of credit facility, additional borrowing capacity			$ 50,000,000
Percentage of option to capitalize		4%
Debt instrument amortization percentage			2.78%
Percentage of prepayment, prior to March 4, 2025			5%
Percentage of prepayment, on or after March 4, 2025, but prior to March 4, 2026			3%
Percentage of prepayment, on or after March 4, 2026, but prior to March 4, 2027			2%
Percentage of prepayment, on or after March 4, 2027			1%
Payment for commitment fees			$ 200,000
Payment for additional commitment fees			$ 600,000
Percentage of aggregate revenue as royalty payments			2%
Royalty payments on aggregate revenue cap amount			$ 15,000,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value (Details) - Recurring	Sep. 30, 2022 USD ($)
Carrying Amount
Debt:
Liabilities, fair value	$ 8,081,359
Carrying Amount | Money Market Funds in Cash Equivalents
Assets:
Assets, fair value	5,877,923
Fair Value
Debt:
Liabilities, fair value	8,081,359
Fair Value | Money Market Funds in Cash Equivalents
Assets:
Assets, fair value	5,877,923
Level 1 | Money Market Funds in Cash Equivalents
Assets:
Assets, fair value	5,877,923
Level 3
Debt:
Liabilities, fair value	8,081,359
Secured Convertible Notes | Carrying Amount
Debt:
Liabilities, fair value	3,603,000
Secured Convertible Notes | Fair Value
Debt:
Liabilities, fair value	3,603,000
Secured Convertible Notes | Level 3
Debt:
Liabilities, fair value	3,603,000
Bridge Loan | Carrying Amount
Debt:
Liabilities, fair value	4,478,359
Bridge Loan | Fair Value
Debt:
Liabilities, fair value	4,478,359
Bridge Loan | Level 3
Debt:
Liabilities, fair value	$ 4,478,359

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Changes in fair value		$ (4,091,610)
Bridge Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Changes in fair value	$ 400,000	(1,694,610)
Secured Convertible Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Changes in fair value	$ (700,000)	$ (2,397,000)

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Change in Fair Value (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Loan Received		$ 12,172,969
Adjustment to Fair Value Mark to Market		(4,091,610)
Ending Balance	$ 8,081,359	8,081,359
Secured Convertible Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Loan Received		6,000,000
Adjustment to Fair Value Mark to Market	(700,000)	(2,397,000)
Ending Balance	3,603,000	3,603,000
Bridge Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Loan Received		6,172,969
Adjustment to Fair Value Mark to Market	400,000	(1,694,610)
Ending Balance	$ 4,478,359	$ 4,478,359

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)

1 Months Ended

3 Months Ended

9 Months Ended

Jan. 14, 2022 USD ($)

Oct. 12, 2021 USD ($)

Mar. 19, 2021 USD ($)

Jan. 25, 2021 USD ($)

Jan. 21, 2021 USD ($)

Jun. 05, 2020

Apr. 11, 2020 USD ($)

Sep. 30, 2018 Patent

Aug. 31, 2016

Jun. 30, 2021 USD ($)

Sep. 30, 2022 USD ($)

Dec. 31, 2021 USD ($)

Oct. 04, 2021 USD ($)

Commitments And Contingencies [Line Items]

Reimbursement payment

$ 14,000,000

Minimum percentage of loan proceeds used to cover payroll costs eligible for loan forgiven

60%

75%

Other current liabilities

$ 138,721

$ 9,450,085

Other current assets

5,436

$ 9,283,625

Pending Litigation | The Securities Class Action

Commitments And Contingencies [Line Items]

Proposed settlement as a loss in accrued expenses

$ 8,400,000

Pending Litigation | Stockholders Derivative Action

Commitments And Contingencies [Line Items]

Payment of settlement plus legal fees and costs in excess of retention (deductible) amount

$ 500,000

PPP Loan

Commitments And Contingencies [Line Items]

Debt instrument, description

On June 5, 2020, the Payroll Protection Flexibility Act of 2020 was signed into law, adjusting certain terms of the loans issued under the PPP, including extending the initial deferral period from six to up to ten months, reducing from 75% to 60% the portion of loan proceeds required to be used to cover payroll costs, and allowing borrowers to elect a 24-week rather than an eight-week period related to employment and compensation provisions.

PPP Loan | JPMorgan Chase Bank, N.A

Commitments And Contingencies [Line Items]

CARES act of 2020 aid loan amount

$ 600,000

Promissory Note | JPMorgan Chase Bank, N.A

Commitments And Contingencies [Line Items]

Debt instrument, term

2 years

Debt instrument, interest rate

1%

Assistance Publique - Hopitaux de Paris ("AP-HP") | License Agreement

Commitments And Contingencies [Line Items]

Agreement entered date

2018-09

Number of patent applications | Patent

3

Assistance Publique - Hopitaux de Paris ("AP-HP") | Private Acer | License Agreement

Commitments And Contingencies [Line Items]

Agreement entered date

2016-08

Relief Therapeutics Holding AG | Collaboration Agreement

Commitments And Contingencies [Line Items]

Upfront non-refundable payment received

$ 1,000,000

Cash payment received

10,000,000

Reimbursement payment

14,000,000

14,000,000

Repayment of outstanding balance of prior loan and interest

4,000,000

4,000,000

Development and commercial launch costs

$ 20,000,000

Potential proceeds from development payments subject to new drug application

$ 10,000,000

Guarantee for substantive review food and drug application

$ 0

Net profit split ratio based on territory

60%

60%

Percentage of royalty revenue received

15%

Milestone payment to be received

$ 6,000,000

$ 6,000,000

Proceeds from first tranche of development payments subject to new drug application

$ 5,000,000

Relief Therapeutics Holding AG | Collaboration Agreement | First Development Payment

Commitments And Contingencies [Line Items]

Development payments subject new drug application

$ 10,000,000

Relief Therapeutics Holding AG | Collaboration Agreement | Second Development Payment

Commitments And Contingencies [Line Items]

Potential proceeds from development payments subject to new drug application

$ 10,000,000

Proceeds from first tranche of development payments subject to new drug application

5,000,000

Relief Therapeutics Holding AG | Collaboration Agreement | Maximum

Commitments And Contingencies [Line Items]

Development and commercial launch costs

$ 20,000,000

Relief Therapeutics Holding AG | Collaboration Agreement | Secured Loan

Commitments And Contingencies [Line Items]

Debt instrument, term

12 months

Debt instrument, principal amount

$ 4,000,000

Debt instrument, interest rate

6%

Relief Therapeutics Holding AG | Waiver and Agreement

Commitments And Contingencies [Line Items]

Proceeds from second tranche of development payments subject to new drug application

5,000,000

Relief Therapeutics Holding AG | Waiver and Agreement | Second Development Payment

Commitments And Contingencies [Line Items]

Proceeds from second tranche of development payments subject to new drug application

5,000,000

Proceeds from first tranche of development payments subject to new drug application

$ 5,000,000

$ 5,000,000

Stockholders' (Deficit) Equit_2

Stockholders' (Deficit) Equity - Additional Information (Details) - USD ($)

3 Months Ended

9 Months Ended

12 Months Ended

Apr. 30, 2020

Mar. 18, 2020

Sep. 18, 2019

Nov. 09, 2018

May 14, 2018

Sep. 19, 2017

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Dec. 31, 2021

Feb. 18, 2022

Jan. 01, 2022

Jan. 01, 2021

Stockholders Equity [Line Items]

Proceeds from issuance of common stock, net of issuance costs

$ 4,524,853

$ 3,139,047

Number of share outstanding

2,830,475

2,830,475

1,954,975

Awards granted under the plan

960,500

Unrecognized compensation expense

$ 2,800,000

$ 2,800,000

Share based compensation arrangement by share based payment award, Weighted average period

2 years 9 months 18 days

Weighted average grant date fair value of options granted

$ 1.24

$ 1.93

$ 1.99

$ 2.63

Fair value of options vested

$ 400,000

$ 500,000

$ 1,900,000

$ 1,600,000

2018 Stock Incentive Plan

Stockholders Equity [Line Items]

Number of common stock authorized for issuance

500,000

572,410

529,325

Share-based compensation arrangement by share-based payment award, description

In addition, the number of shares authorized for issuance under the 2018 Plan is automatically increased (the “evergreen provision”) on the first day of each fiscal year beginning on January 1, 2019, and ending on (and including) January 1, 2028, in an amount equal to the lesser of (i) 4% of the outstanding shares of common stock on the last day of the immediately preceding fiscal year, or (ii) another amount (including zero) determined by the Company’s Board of Directors. On January 1, 2022 and 2021, 572,410 and 529,325 additional shares, respectively, were authorized according to the evergreen provision. On February18, 2022, the Company’s Board of Directors amended and restated the 2018 Plan to add a provision permitting the grant of inducement awards under Nasdaq Marketplace Rule 5635(c)(4) to eligible recipients and initially reserved 200,000 shares of the Company’s common stock for issuance pursuant to inducement awards granted under the 2018 Plan. Any shares subject to awards granted under the 2018 Plan that are forfeited or terminated before being exercised or settled or are not delivered to the participant because such award is settled in cash, will again become available for issuance under the 2018 Plan. Shares withheld to satisfy the grant, exercise price or tax withholding obligation related to an award will again become available for issuance under the 2018 Plan.

Share-based compensation arrangement by share-based payment award, expiration date

Jan. 01, 2028

Share-based compensation arrangement by share-based payment award, percentage of outstanding our common stock

4%

Grant of inducement awards and reserved, shares

200,000

Options contractual term

10 years

Available for the grant of future awards

353,688

353,688

2018 Stock Incentive Plan | Executive Officers and Employees

Stockholders Equity [Line Items]

Share-based compensation arrangement by share-based payment award, stock options vesting period

4 years

2018 Stock Incentive Plan | Executive Officers and Employees | One-year Anniversary of the Grant Date

Stockholders Equity [Line Items]

Share-based compensation arrangement by share-based payment award, Vesting percentage

25%

Awards granted under the plan

0

0

0

2018 Stock Incentive Plan | Executive Officers and Employees | Quarterly over Remaining Three Years

Stockholders Equity [Line Items]

Share-based compensation arrangement by share-based payment award, Vesting percentage

75%

2018 Stock Incentive Plan | Executive Officers and Employees | January 1, 2021

Stockholders Equity [Line Items]

Share-based compensation arrangement by share-based payment award, Vesting percentage

50%

2018 Stock Incentive Plan | Executive Officers and Employees | January 1, 2022

Stockholders Equity [Line Items]

Share-based compensation arrangement by share-based payment award, Vesting percentage

50%

2018 Stock Incentive Plan | Board of Directors

Stockholders Equity [Line Items]

Share-based compensation arrangement by share-based payment award, stock options vesting period

12 months

2013 Stock Incentive Plan

Stockholders Equity [Line Items]

Number of common stock authorized for issuance

165,000

Options contractual term

10 years

Awards granted under the plan

0

2010 Stock Incentive Plan

Stockholders Equity [Line Items]

Number of common stock authorized for issuance

470,170

Options contractual term

10 years

Awards granted under the plan

0

Lincoln Park

Stockholders Equity [Line Items]

Issuance of common stock, net of issuance costs, shares

350,000

650,000

Proceeds from issuance of common stock gross

$ 500,000

$ 900,000

Proceeds from issuance of common stock, net of issuance costs

500,000

900,000

Remaining obligation

$ 11,300,000

$ 11,300,000

Number of shares, company may sell on any single business day

50,000

Maximum amount of Common stock at time of sale, per regular purchase

$ 1,000,000

Maximum percentage of shares may be issued or sold based on outstanding shares immediately prior to execution of agreement

19.99%

Issuance of common stock for commitment fee, shares

148,148

Fair value of the commitment fee shares, recorded to general and administrative expense along with other costs incurred

$ 400,000

Weighted Average | Lincoln Park

Stockholders Equity [Line Items]

Issuance of common stock, gross sale price per share

$ 1.39

$ 1.32

Maximum | 2010 and 2013 Stock Incentive Plan

Stockholders Equity [Line Items]

Number of share outstanding

635,170

Maximum | Lincoln Park

Stockholders Equity [Line Items]

Beneficially ownership percentage

9.99%

Maximum | Lincoln Park

Stockholders Equity [Line Items]

Shares value might be issued under agreement

$ 15,000,000

Number of shares, company may sell on any single business day

100,000

Minimum | Lincoln Park

Stockholders Equity [Line Items]

Threshold price per share for issuance of shares under agreement

$ 2.1668

At-the-Market Facility

Stockholders Equity [Line Items]

Issuance of common stock, net of issuance costs, shares

350,820

1,413,367

877,107

Proceeds from issuance of common stock gross

$ 500,000

$ 3,800,000

$ 2,800,000

Common stock offering costs

100,000

200,000

Proceeds from issuance of common stock, net of issuance costs

3,700,000

$ 2,600,000

Amount remained available under facility

$ 36,200,000

$ 36,200,000

At-the-Market Facility | Weighted Average

Stockholders Equity [Line Items]

Issuance of common stock, gross sale price per share

$ 1.5223

$ 2.6872

$ 3.1692

At-the-Market Facility | Maximum

Stockholders Equity [Line Items]

Aggregate offering price of common stock

$ 50,000,000

$ 50,000,000

Stockholders' (Deficit) Equit_3

Stockholders' (Deficit) Equity - Summary of Option Activity under 2018 Plan, 2013 Plan and 2010 Plan (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Options
Number of Shares, Options outstanding at beginning of period	1,954,975
Awards granted under the plan	960,500
Number of Shares, Options Cancelled/forfeited	(85,000)
Number of Shares, Options outstanding at end of period	2,830,475	1,954,975
Number of Shares, Options exercisable at end of period	1,398,730
Weighted Average Exercise Price, Options
Weighted Average Exercise Price, Options outstanding at beginning of period	$ 8.16
Weighted Average Exercise Price, Options Granted	2.33
Weighted Average Exercise Price, Options Cancelled/forfeited	3.75
Weighted Average Exercise Price, Options outstanding at end of period	6.32	$ 8.16
Weighted Average Exercise Price, Options exercisable at end of period	$ 9.64
Weighted Average Remaining Contract Term, Options
Weighted Average Remaining Contractual Term, Options outstanding at beginning of period	7 years 9 months 18 days	7 years 9 months 18 days
Weighted Average Remaining Contractual Term, Options exercisable at end of period	6 years 6 months

Stockholders' (Deficit) Equit_4

Stockholders' (Deficit) Equity - Summary of Stock-Based Compensation Expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stockholders Equity [Line Items]
Stock-based compensation expense	$ 460,115	$ 600,013	$ 1,394,989	$ 1,754,412
Research and Development
Stockholders Equity [Line Items]
Stock-based compensation expense	160,316	183,505	459,636	528,385
General and Administrative
Stockholders Equity [Line Items]
Stock-based compensation expense	$ 299,799	$ 416,508	$ 935,353	$ 1,226,027

Stockholders' (Deficit) Equit_5

Stockholders' (Deficit) Equity - Summary of Warrant Issued (Details) - Warrants Issued to SWK	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Stockholders Equity [Line Items]
Number of shares, Granted during the period | shares	250,000
Number of shares, Outstanding at end of the period | shares	250,000
Number of shares, Exercisable at end of the period | shares	250,000
Weighted average remaining life	6 years 6 months
Weighted Average Exercise Price, Granted | $ / shares	$ 2.08
Weighted Average Exercise Price, Outstanding at end of the period | $ / shares	2.08
Weighted Average Exercise Price, Exercisable at end of the period | $ / shares	$ 2.08

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Numerator and Denominator used in Calculation of Basic and Diluted Net Loss Per Common Share (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net loss	$ (5,006,945)	$ (2,667,036)	$ (9,179,004)	$ (3,273,008)	$ (3,069,037)	$ (4,611,305)	$ (16,852,985)	$ (10,953,350)
Basic:
Weighted average common shares outstanding - basic	16,089,019			14,310,244			15,230,839	14,254,092
Diluted:
Weighted average common shares outstanding - basic	16,089,019			14,310,244			15,230,839	14,254,092
Effect of potentially dilutive shares	0						1,854,945
Total weighted average shares of common stock and potentially dilutive shares	16,089,019			14,310,244			17,085,784	14,254,092
Basic:
Net loss applicable to common stockholders	$ (5,006,945)						$ (16,852,985)
Weighted average common shares outstanding - basic	16,089,019			14,310,244			15,230,839	14,254,092
Net loss per share - basic	$ (0.31)			$ (0.23)			$ (1.11)	$ (0.77)
Diluted:
Net loss applicable to common shareholders, diluted	$ (5,006,945)						$ (19,249,985)
Weighted average common shares outstanding - diluted	16,089,019			14,310,244			17,085,784	14,254,092
Net loss per share - diluted	$ (0.31)			$ (0.23)			$ (1.13)	$ (0.77)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Numerator and Denominator used in Calculation of Basic and Diluted Net Loss Per Common Share (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Securities excluded from computation of net loss per share		3,080,475	1,908,975
Senior Convertible Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Fair value of the Secured Convertible Notes		$ 2.4
Securities excluded from computation of net loss per share	2,400,000	1,854,945

Net Loss Per Share - Schedule_3

Net Loss Per Share - Schedule of Number of Shares of Common Stock Underlying Potentially Dilutive Securities Excluded From Calculation of Diluted Net Loss Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock dilutive securities	3,080,475	1,908,975
Options to purchase common stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock dilutive securities	2,830,475	1,908,975
SWK Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock dilutive securities	250,000

Net Loss Per Share - Additional

Net Loss Per Share - Additional Information (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Securities excluded from computation of net loss per share		3,080,475	1,908,975
Senior Convertible Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Securities excluded from computation of net loss per share	2,400,000	1,854,945
Secured Convertible Notes Assumed Conversion of Accrued Interest Owed
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Securities excluded from computation of net loss per share	46,586

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Nov. 14, 2022	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Subsequent Event [Line Items]
Proceeds from issuance of common stock, net of issuance costs			$ 4,524,853	$ 3,139,047
Lincoln Park
Subsequent Event [Line Items]
Issuance of common stock, net of issuance costs, shares		350,000	650,000
Proceeds from issuance of common stock gross		$ 500,000	$ 900,000
Proceeds from issuance of common stock, net of issuance costs		$ 500,000	$ 900,000
Subsequent Event | Lincoln Park
Subsequent Event [Line Items]
Issuance of common stock, net of issuance costs, shares	50,000
Issuance of common stock, gross sale price per share	$ 1.20
Proceeds from issuance of common stock gross	$ 60,000
At-the-Market Facility
Subsequent Event [Line Items]
Issuance of common stock, net of issuance costs, shares		350,820	1,413,367	877,107
Proceeds from issuance of common stock gross		$ 500,000	$ 3,800,000	$ 2,800,000
Proceeds from issuance of common stock, net of issuance costs			$ 3,700,000	$ 2,600,000
At-the-Market Facility | Subsequent Event
Subsequent Event [Line Items]
Issuance of common stock, net of issuance costs, shares	66,083
Issuance of common stock, gross sale price per share	$ 1.35
Proceeds from issuance of common stock gross	$ 100,000
Proceeds from issuance of common stock, net of issuance costs	$ 100,000