Marker Therapeutics (MRKR) 10-Q 15 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 15, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	TPIV
Entity Registrant Name	TAPIMMUNE INC.
Entity Central Index Key	1,094,038
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		98,481,757

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current Assets
Cash	$ 3,767,656	$ 6,576,564
Prepaid expenses and deposits	21,394	68,803
Total Current Assets	3,789,050	6,645,367
Current Liabilities
Accounts payable and accrued liabilities	1,346,391	967,358
Research agreement obligations	492,365	492,365
Derivative liability - warrants	21,252,000	26,493,000
Promissory note	5,000	30,000
Promissory note, related party	23,000	23,000
Total Current Liabilities	23,118,756	28,005,723
Stockholders' Equity (Deficit)
Convertible preferred stock, $0.001 par value - 5,000,000 shares authorized
Common stock, $0.001 par value, 500,000,000 shares authorized 71,416,268 shares issued and outstanding (2015 - 70,550,763)	71,416	70,551
Additional paid-in capital	112,882,904	112,077,520
Accumulated deficit	(132,284,026)	(133,508,427)
Total Stockholders' Deficit	(19,329,706)	(21,360,356)
Total liabilities and stockholder's deficit	3,789,050	6,645,367
Series A Preferred Stock [Member]
Stockholders' Equity (Deficit)
Convertible preferred stock, $0.001 par value - 5,000,000 shares authorized
Series B Preferred Stock [Member]
Stockholders' Equity (Deficit)
Convertible preferred stock, $0.001 par value - 5,000,000 shares authorized

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock shares authorized/designated	5,000,000	5,000,000
Common stock shares par value	$ 0.001	$ 0.001
Common stock shares authorized	500,000,000	500,000,000
Common stock shares issued	71,416,268	70,550,763
Common stock shares outstanding	71,416,268	70,550,763
Series A Preferred Stock [Member]
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock shares authorized/designated	1,250,000	1,250,000
Preferred stock issued	0	0
Preferred stock outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock shares authorized/designated	1,500,000	1,500,000
Preferred stock issued	0	0
Preferred stock outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating expenses:
Research and development	$ 1,248,165	$ 201,157	$ 2,233,916	$ 810,535
General and administrative	1,177,408	936,887	1,945,396	1,355,673
Loss from Operations	(2,425,573)	(1,138,044)	(4,179,312)	(2,166,208)
Other Income (Expense)
Changes in fair value of derivative liabilities	8,237,000	(59,079,025)	5,241,000	(58,751,585)
Foreign exchange		775		775
Grant income	231,200		231,200
Shares issued in debt settlement agreements	(70,315)		(70,315)
Other income	1,828		1,828
Net Income (Loss) for the Period	$ 5,974,140	$ (60,216,294)	$ 1,224,401	$ (60,917,018)
Basic Net Income (Loss) per Share	$ 0.08	$ (1.80)	$ 0.02	$ (1.99)
Diluted Net Income (Loss) per Share	$ 0.03	$ (1.80)	$ (0.02)	$ (1.99)
Weighted Average Number of Common Shares Outstanding, Basic	71,220,000	33,525,656	70,907,000	30,584,794
Weighted Average Number of Common Shares Outstanding, diluted	78,297,000	33,525,656	79,829,000	30,584,794

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Stockholders' Equity (Deficit) (Unaudited) - 6 months ended Jun. 30, 2016 - USD ($)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]
Beginning Balance, Amount at Dec. 31, 2015	$ (21,360,356)	$ 70,551	$ 112,077,520	$ (133,508,427)
Beginning Balance, Share at Dec. 31, 2015		70,550,763
Shares issued in debt settlement agreements	70,315	$ 122	70,193
Shares issued in debt settlement agreements, Shares		122,287
Stock- based compensation, Amount	735,934	$ 743	735,191
Stock- based compensation, Share		743,218
Net income	1,224,401			1,224,401
Ending Balance, Amount at Jun. 30, 2016	$ (19,329,706)	$ 71,416	$ 112,882,904	$ (132,284,026)
Ending Balance, Share at Jun. 30, 2016		71,416,268

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 1,224,401	$ (60,917,018)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Changes in fair value of derivative liabilities	(5,241,000)	58,751,585
Shares issued in debt settlement agreements	70,315
Stock based compensation	544,934	248,561
Changes in operating assets and liabilities:
Prepaid expenses	47,409	(60,086)
Accounts payable and accrued liabilities	570,033	149,320
NET CASH USED IN OPERATING ACTIVITIES	(2,783,908)	(1,827,638)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of shares, net of finders' fee		2,326,014
Repayment of promissory note	(25,000)
Proceeds from exercise of warrants		2,500,000
Finders' fee on exercise of warrants		(35,000)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(25,000)	4,791,014
INCREASE (DECREASE) IN CASH	(2,808,908)	2,963,376
CASH, BEGINNING OF PERIOD	6,576,564	141,944
CASH, END OF PERIOD	3,767,656	3,105,320
SUPPLEMENTAL SCHEDULE OF NON-CASH ACTIVITIES
Reclassification of accrued liability upon issuance of common shares relating to Dr. Glynn Wilson's compensation	$ 191,000
Accounts payable settled in common stock		231,000
Fair value of issuance of warrants in January and March 2015 financing		9,313,000
Issuance of additional warrants in May 28, 2015 transaction		6,133,000
Reclassification of Derivative Warrant Liabilities to Equity at Exercise Date		$ 4,245,000

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	NOTE 1: NATURE OF OPERATIONS TapImmune Inc. (the “Company”), a Nevada corporation incorporated in 1992, is a biotechnology Company focusing on immunotherapy specializing in the development of innovative peptide and gene-based immunotherapeutics and vaccines for the treatment of oncology and infectious disease. Unlike other vaccine technologies that narrowly address the initiation of an immune response, TapImmune’s approach broadly stimulates the cellular immune system by enhancing the function of killer T-cells and T-helper cells and by restoring antigen presentation in tumor cells allowing their recognition and killing by the immune system.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	NOTE 2: BASIS OF PRESENTATION The accompanying unaudited condensed financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company prepares its annual audited consolidated financial statements. The condensed consolidated balance sheet as of June 30, 2016, condensed consolidated statements of interim financials include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The results for the statement of operations are not necessarily indicative of results to be expected for the year ending December 31, 2016 or for any future interim period. The condensed consolidated balance sheet at December 31, 2015 has been derived from audited financial statements; however, it does not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2015, and notes thereto included in the Company’s annual report on Form 10-K.

Liquidity and Financial Conditi

Liquidity and Financial Condition	6 Months Ended
	Jun. 30, 2016
Text Block [Abstract]
Liquidity and Financial Condition	NOTE 3: LIQUIDITY AND FINANCIAL CONDITION The Company’s activities since inception have consisted principally of acquiring product and technology rights, raising capital, and performing research and development. Successful completion of the Company’s development programs and, ultimately, the attainment of profitable operations are dependent on future events, including, among other things, its ability to access potential markets; secure financing, develop a customer base; attract, retain and motivate qualified personnel; and develop strategic alliances. From inception, the Company has been funded by a combination of equity and debt financings. The Company expects to continue to incur substantial losses over the next several years during its development phase. To fully execute its business plan, the Company will need to complete certain research and development activities and clinical studies. Further, the Company’s product candidates will require regulatory approval prior to commercialization. These activities may span many years and require substantial expenditures to complete and may ultimately be unsuccessful. Any delays in completing these activities could adversely impact the Company. The Company plans to meet its capital requirements primarily through issuances of debt and equity securities and, in the longer term, revenue from product sales. As of June 30, 2016, the Company had cash and cash equivalents of approximately $3,768,000. Historically, the Company has net losses and negative cash flows from operations. The Company believes its current capital resources are not sufficient to support its operations. Management intends to continue its research efforts and to finance operations of the Company through debt and/or equity financings. Management plans to seek additional debt and/or equity financing through private or public offerings or through a business combination or strategic partnership. There can be no assurance that the Company will be successful in obtaining additional financing on favorable terms, or at all. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 4: SIGNIFICANT ACCOUNTING POLICIES There have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s annual report on Form 10-K, which was filed with the SEC on April 14, 2016 other than the one disclosed below: Grant Income The Company recognizes grant income in accordance with the terms stipulated under the grant awarded to the Company’s collaborators at the Mayo Foundation from the U. S. Department of Defense. In various situations, the Company receives certain payments from the U. S. Department of Defense for reimbursement of clinical supplies. These payments are non-refundable, and are not dependent on the Company’s ongoing future performance. The Company has adopted a policy of recognizing these payments as grant income when received. Recent accounting pronouncement Accounting Standards Update (“ASU”), No. 2016-09 - In March 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-09, Compensation-Stock Compensation. The new guidance simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments in this standard are effective for the Company’s annual year and first fiscal quarter beginning on January 1, 2017 with early adoption permitted. The Company is currently evaluating the impact of the application of this accounting standard update on its financial statements and related disclosures.

Earnings Per Share Applicable T

Earnings Per Share Applicable To Common Stockholders	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share Applicable To Common Stockholders	NOTE 5: EARNINGS PER SHARE APPLICABLE TO COMMON STOCKHOLDERS Basic income (loss) per common share is computed by dividing net income by the weighted average number of common shares outstanding during the reporting period. Diluted income per common share is computed similar to basic income per common share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. Potential dilutive common shares also include the dilutive effect of the common stock underlying in-the-money stock options and warrants that were calculated based on the average share price for each period using the treasury stock method. Under the treasury stock method, the proceeds from the exercise of an option or warrant is assumed to be used to repurchase shares in the current period. In addition, the average amount of compensation cost for in-the-money options, if any, for future service that the Company has not yet recognized when the option is exercised, is also assumed to repurchase shares in the current period. A reconciliation of the numerator and denominator used in the calculation is as follows: For the Three Months Ended For the Six Months Ended June 30, 2016 2015 2016 2015 Numerator: Net income (loss) $ 5,974,000 $ (60,216,294 ) $ 1,224,000 $ (60,917,018 ) Less: noncash income from change in fair value of common stock warrants 3,697,000 — 2,492,000 — Net income (loss) – diluted 2,277,000 (60,216,294 ) (1,268,000 ) (60,917,018 ) Denominator: Weighted average shares outstanding – basic 71,220,000 33,525,656 70,907,000 30,584,794 Dilutive effect of warrants, net 6,785,000 — 8,922,000 — Dilutive effect of stock options, net 292,000 — — — Weighted average shares outstanding – diluted 78,297,000 33,525,656 79,829,000 30,584,794 Net income (loss) per share data: Basic $ 0.08 $ (1.80 ) $ 0.02 $ (1.99 ) Diluted $ 0.03 $ (1.80 ) $ (0.02 ) $ (1.99 ) The following securities were not included in the diluted net income (loss) per share calculation because their effect was anti-dilutive as for the periods presented: For the Three Months Ended June 30, For the Six Months Ended June 30, 2016 2015 2016 2015 Common stock options 3,014,000 465,000 3,564,000 465,000 Common stock warrants - equity treatment 2,556,000 2,556,000 2,556,000 2,556,000 Common stock warrants - liability treatment 27,390,000 81,834,000 24,817,000 81,834,000 Potentially dilutive securities 32,960,000 84,855,000 30,937,000 84,855,000

Derivative Liability - Warrants

Derivative Liability - Warrants	6 Months Ended
	Jun. 30, 2016
Text Block [Abstract]
Derivative Liability - Warrants	NOTE 6: DERIVATIVE LIABILITY - WARRANTS A summary of quantitative information with respect to valuation methodology and significant unobservable inputs used for the Company’s common stock purchase warrants that are categorized within Level 3 of the fair value hierarchy for the six months ended 2016 and 2015 is as follows: Share Purchase Warrants Weighted Average Inputs for the Period Date of valuation For the Six For the Six Fair market value of stock $ 0.51 $ 0.96 Strike price $ 0.70 $ 0.50 Contractual term (years) 3.7 3.2 Volatility (annual) 150.00 % 148.00 % Risk-free rate 0.9 % 1.1 % Dividend yield (per share) 0 % 0 % The foregoing assumptions are reviewed quarterly and are subject to change based primarily on management’s assessment of the probability of the events described occurring. Accordingly, changes to these assessments could materially affect the valuations. Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis Financial assets and liabilities measured at fair value on a recurring basis are summarized below and disclosed on the balance sheet under Derivative liability – warrants: As of June 30, 2016 Fair Value Measurements Fair Value Level 1 Level 2 Level 3 Total Derivative liability - warrants $ 21,252,000 — — $ 21,252,000 $ 21,252,000 Total $ 21,252,000 — — $ 21,252,000 $ 21,252,000 As of December 31, 2015 Fair Value Measurements Fair Value Level 1 Level 2 Level 3 Total Derivative liability - warrants $ 26,493,000 — — $ 26,493,000 $ 26,493,000 Total $ 26,493,000 — — $ 26,493,000 $ 26,493,000 There were no transfers between Level 1, 2 or 3 during the six months ended June 30, 2016. The following table presents changes in Level 3 liabilities measured at fair value for the six months ended June 30, 2016: Derivative liability – warrants Balance – January 1, 2016 $ 26,493,000 Change in fair value of warrant liability (5,241,000 ) Balance – June 30, 2016 $ 21,252,000 The valuation of warrants is subjective and is affected by changes in inputs to the valuation model including the price per share of common stock, the historical volatility of the stock price, risk-free rates based on U.S. Treasury security yields, the expected term of the warrants and dividend yield. Changes in these assumptions can materially affect the fair value estimate. The Company could ultimately incur amounts to settle the warrant at a cash settlement value that is significantly different than the carrying value of the liability on the financial statements. The Company will continue to classify the fair value of the warrants as a liability until the warrants are exercised, expire, or are amended in a way that would no longer require these warrants to be classified as a liability. Changes in the fair value of the common stock warrants liability are recognized as a component of other income (expense) in the condensed and consolidated statements of operations.

Promissory Note

Promissory Note	6 Months Ended
	Jun. 30, 2016
Text Block [Abstract]
Promissory Note	NOTE 7: PROMISSORY NOTE The Company has outstanding promissory note in the amount of $5,000 (December 31, 2015 - $30,000). The promissory note bears 10% annual interest.

Promissory Note, Related Party

Promissory Note, Related Party	6 Months Ended
	Jun. 30, 2016
Text Block [Abstract]
Promissory Note, Related Party	NOTE 8: PROMISSORY NOTE, RELATED PARTY The Company has an outstanding promissory note in the amount of $23,000 (December 31, 2015 - $23,000) owed to an officer of the Company. The promissory note bears no interest charges and has no fixed repayment terms.

Capital Stock

Capital Stock	6 Months Ended
	Jun. 30, 2016
Text Block [Abstract]
Capital Stock	NOTE 9: CAPITAL STOCK 2016 Share Transactions Management Compensation In November 2015, the Company entered into an employment agreement with Dr. Glynn Wilson, the Company’s Chief Executive Officer, President and Chairman of the Company. As part of the agreement, Dr. Wilson was awarded 0.3 million fully vested common shares at consummation of the agreement. The Company recorded an obligation to deliver the shares of $0.3 million based on the fair value of the Common stock at December 31, 2015. The Company issued the shares in March 2016 and reclassified the accrued liability to stockholders’ equity (deficit). In the quarter ended June 30, 2016, to adjust for the withholding tax liability, which is payable in cash, Dr. Wilson returned the 0.3 million fully vested common shares to the treasury and was issued 0.2 million fully vested common shares. The recorded obligation was reduced to $0.1 million based on the fair value of the common stock at May 1, 2016. Consulting arrangements During the six months ended June 30, 2016, the Company issued 0.5 million common shares as part of consulting agreements. The fair value of the common stock of approximately $0.3 million was recognized as stock-based compensation in general and administrative expense. Debt Settlement In May 2016, the Company issued 0.1 million common shares as part of debt conversion agreements from 2014. The fair value of the common stock of approximately $0.1 million was recognized as shares issued in debt settlement agreements in other income (expense).

Grant Income

Grant Income	6 Months Ended
	Jun. 30, 2016
Text Block [Abstract]
Grant Income	NOTE 10: GRANT INCOME During the six months ended June 30, 2016, the Company received $0.2 million of grant awarded to Mayo Foundation from the US Department of Defense for the Phase II Clinical Trial of TPIV 200. The grant paid for the clinical supplies purchased by the Company.

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Event	NOTE 11: SUBSEQUENT EVENT On August 10 2016, the Company completed a private placement of units with certain accredited investors The units (“Units”) consisted of (i) one share of the Company’s common stock, par value $0.001 per share and (ii) one warrant to purchase one share of Company common stock for $0.50 (the “PIPE Warrants”). The Company issued and sold an aggregate of 6,065,489 Units at a purchase price per Unit of $0.40 for an aggregate of approximately$2.5 million. In addition, the Company issued warrants to the placement agent in the offering providing for the purchase of up to 606,549 shares of Company common stock for $0.40 per share. In connection with the closing of the offering, holders of an aggregate of 7 million outstanding Series C Warrants and 5 million Series C-1 Warrants, each providing for the purchase of one share of Company common stock for $0.50 per share, entered into binding commitments to exercise their warrants for an aggregate exercise price of $6,000,000 and such warrants were exercised on August 11, 2016. In connection with this warrant exercise, the Company and the holders of the warrants entered into a Warrant Amendment Agreement amending the terms of other outstanding warrants to remove provisions that had previously caused them to be classified as a derivative liability as opposed to equity on the Company’s balance sheet. In consideration for such amendment and the exercise of the 12 million warrants, the Company issued an aggregate of 9,000,000 additional shares of common stock to such warrant holders and new five-year warrants to purchase 12 million shares of Company common stock at an exercise price of $0.60 per share. On a pro forma basis, as of June 30, 2016, the exercise of the 12 million warrants and the amendment of the other warrants will reduce the derivative liability relating to warrants reflected on the Company’s June 30 balance sheet by $21,092,000, from $21,252,000 to $160,000. The Company incurred approximately $925,000 in expenses relating to the offering, the exercise of the outstanding Series C Warrant and Series C-1 Warrants and the amendment of the Outstanding Series Warrants, including agency fees resulting in net proceeds to the Company of approximately $7.5 million. Below is a Pro Forma Balance Sheet as of June 30, 2016 which shows the retroactive effect of the financing and warrant exercise and amendment, net of closing costs and fees. TapImmune Inc. and Subsidiaries Condensed Consolidated Pro Forma Balance Sheets (Unaudited) June 30, 2016 (As Stated) Adjustment June 30, 2016 (Adjusted) Total assets $ 3,789,050 7,509,194 $ 11,298,244 Other current liabilities 1,866,756 1,866,756 Derivative liability - warrants 21,252,260 (21,092,000 ) 160,260 Total liabilities 23,119,016 (21,092,000 ) 2,027,016 Total stockholders’ equity (19,329,966 ) 28,601,194 9,271,228 Total liabilities and stockholders’ equity $ 3,789,050 7,509,194 $ 11,298,244 Below is a Pro Forma table of common shares outstanding as of June 30, 2016. Common stock outstanding at June 30, 2016 71,416,268 Warrants Exercised 12,000,000 Common stock issued to warrant holders as part of financing 9,000,000 Common stock sold as part of Private Placement 6,065,489 Pro Forma Common stock outstanding at June 30, 2016 98,481,757

Significant Accounting Polici18

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Grant Income	Grant Income The Company recognizes grant income in accordance with the terms stipulated under the grant awarded to the Company’s collaborators at the Mayo Foundation from the U. S. Department of Defense. In various situations, the Company receives certain payments from the U. S. Department of Defense for reimbursement of clinical supplies. These payments are non-refundable, and are not dependent on the Company’s ongoing future performance. The Company has adopted a policy of recognizing these payments as grant income when received.
Recent accounting pronouncement	Recent accounting pronouncement Accounting Standards Update (“ASU”), No. 2016-09 - In March 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-09, Compensation-Stock Compensation. The new guidance simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments in this standard are effective for the Company’s annual year and first fiscal quarter beginning on January 1, 2017 with early adoption permitted. The Company is currently evaluating the impact of the application of this accounting standard update on its financial statements and related disclosures.

Earnings Per Share Applicable19

Earnings Per Share Applicable To Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator Used in Calculation of Earnings Per Share Applicable to Common Stockholders	A reconciliation of the numerator and denominator used in the calculation is as follows: For the Three Months Ended For the Six Months Ended June 30, 2016 2015 2016 2015 Numerator: Net income (loss) $ 5,974,000 $ (60,216,294 ) $ 1,224,000 $ (60,917,018 ) Less: noncash income from change in fair value of common stock warrants 3,697,000 — 2,492,000 — Net income (loss) – diluted 2,277,000 (60,216,294 ) (1,268,000 ) (60,917,018 ) Denominator: Weighted average shares outstanding – basic 71,220,000 33,525,656 70,907,000 30,584,794 Dilutive effect of warrants, net 6,785,000 — 8,922,000 — Dilutive effect of stock options, net 292,000 — — — Weighted average shares outstanding – diluted 78,297,000 33,525,656 79,829,000 30,584,794 Net income (loss) per share data: Basic $ 0.08 $ (1.80 ) $ 0.02 $ (1.99 ) Diluted $ 0.03 $ (1.80 ) $ (0.02 ) $ (1.99 )
Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share	The following securities were not included in the diluted net income (loss) per share calculation because their effect was anti-dilutive as for the periods presented: For the Three Months Ended June 30, For the Six Months Ended June 30, 2016 2015 2016 2015 Common stock options 3,014,000 465,000 3,564,000 465,000 Common stock warrants - equity treatment 2,556,000 2,556,000 2,556,000 2,556,000 Common stock warrants - liability treatment 27,390,000 81,834,000 24,817,000 81,834,000 Potentially dilutive securities 32,960,000 84,855,000 30,937,000 84,855,000

Derivative Liability - Warran20

Derivative Liability - Warrants (Tables)	6 Months Ended
	Jun. 30, 2016
Text Block [Abstract]
Valuation Methodology	A summary of quantitative information with respect to valuation methodology and significant unobservable inputs used for the Company’s common stock purchase warrants that are categorized within Level 3 of the fair value hierarchy for the six months ended 2016 and 2015 is as follows: Share Purchase Warrants Weighted Average Inputs for the Period Date of valuation For the Six For the Six Fair market value of stock $ 0.51 $ 0.96 Strike price $ 0.70 $ 0.50 Contractual term (years) 3.7 3.2 Volatility (annual) 150.00 % 148.00 % Risk-free rate 0.9 % 1.1 % Dividend yield (per share) 0 % 0 %
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis are summarized below and disclosed on the balance sheet under Derivative liability – warrants: As of June 30, 2016 Fair Value Measurements Fair Value Level 1 Level 2 Level 3 Total Derivative liability - warrants $ 21,252,000 — — $ 21,252,000 $ 21,252,000 Total $ 21,252,000 — — $ 21,252,000 $ 21,252,000 As of December 31, 2015 Fair Value Measurements Fair Value Level 1 Level 2 Level 3 Total Derivative liability - warrants $ 26,493,000 — — $ 26,493,000 $ 26,493,000 Total $ 26,493,000 — — $ 26,493,000 $ 26,493,000
Schedule of Changes in Level 3 Liabilities Measured at Fair Value	The following table presents changes in Level 3 liabilities measured at fair value for the six months ended June 30, 2016: Derivative liability – warrants Balance – January 1, 2016 $ 26,493,000 Change in fair value of warrant liability (5,241,000 ) Balance – June 30, 2016 $ 21,252,000

Subsequent Event (Tables)

Subsequent Event (Tables) - Pro Forma [Member]	6 Months Ended
	Jun. 30, 2016
Common Stock [Member]
Pro Forma Balance Sheet And Common Shares Outstanding	Below is a Pro Forma table of common shares outstanding as of June 30, 2016. Common stock outstanding at June 30, 2016 71,416,268 Warrants Exercised 12,000,000 Common stock issued to warrant holders as part of financing 9,000,000 Common stock sold as part of Private Placement 6,065,489 Pro Forma Common stock outstanding at June 30, 2016 98,481,757
Balance Sheet [Member]
Pro Forma Balance Sheet And Common Shares Outstanding	Below is a Pro Forma Balance Sheet as of June 30, 2016 which shows the retroactive effect of the financing and warrant exercise and amendment, net of closing costs and fees. TapImmune Inc. and Subsidiaries Condensed Consolidated Pro Forma Balance Sheets (Unaudited) June 30, 2016 (As Stated) Adjustment June 30, 2016 (Adjusted) Total assets $ 3,789,050 7,509,194 $ 11,298,244 Other current liabilities 1,866,756 1,866,756 Derivative liability - warrants 21,252,260 (21,092,000 ) 160,260 Total liabilities 23,119,016 (21,092,000 ) 2,027,016 Total stockholders’ equity (19,329,966 ) 28,601,194 9,271,228 Total liabilities and stockholders’ equity $ 3,789,050 7,509,194 $ 11,298,244

Liquidity and Financial Condi22

Liquidity and Financial Condition - Additional Information (Detail)	Jun. 30, 2016USD ($)
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 3,768,000

Reconciliation of Numerator and

Reconciliation of Numerator and Denominator Used in Calculation of Earnings Per Share Applicable to Common Stockholders (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reconciliation Of Earning Per Share Statement [Line Items]
Net income (loss)	$ 5,974,140	$ (60,216,294)	$ 1,224,401	$ (60,917,018)
Less: noncash income from change in fair value of common stock warrants	3,697,000		2,492,000
Net income (loss) - diluted	$ 2,277,000	$ (60,216,294)	$ (1,268,000)	$ (60,917,018)
Weighted average shares outstanding - basic	71,220,000	33,525,656	70,907,000	30,584,794
Weighted average shares outstanding - diluted	78,297,000	33,525,656	79,829,000	30,584,794
Net income (loss) per share data:
Basic	$ 0.08	$ (1.80)	$ 0.02	$ (1.99)
Diluted	$ 0.03	$ (1.80)	$ (0.02)	$ (1.99)
Stock Option [Member]
Reconciliation Of Earning Per Share Statement [Line Items]
Dilutive effect, net	292,000
Warrant [Member]
Reconciliation Of Earning Per Share Statement [Line Items]
Dilutive effect, net	6,785,000		8,922,000

Potentially Dilutive Securities

Potentially Dilutive Securities - Net Income (Loss) per Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Common stock options	3,014,000	465,000	3,564,000	465,000
Common stock warrants - equity treatment	2,556,000	2,556,000	2,556,000	2,556,000
Common stock warrants - liability treatment	27,390,000	81,834,000	24,817,000	81,834,000
Potentially dilutive securities	32,960,000	84,855,000	30,937,000	84,855,000

Derivative Liability - Warran25

Derivative Liability - Warrants and Derivative Liability - Conversion Option - Valuation Methodology (Detail) - Share Purchase Warrants [Member] - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair market value of stock	$ 0.51	$ 0.96
Strike price	$ 0.70	$ 0.50
Contractual term (years)	3 years 8 months 12 days	3 years 2 months 12 days
Volatility (annual)	150.00%	148.00%
Risk-free rate	0.90%	1.10%
Dividend yield (per share)	0.00%	0.00%

Derivative Liability - Warran26

Derivative Liability - Warrants and Derivative Liability - Conversion Option - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivative liability - warrants	$ 21,252,000	$ 26,493,000
Total	21,252,000	26,493,000
Fair Value, Inputs, Level 3 [Member]
Derivatives, Fair Value [Line Items]
Derivative liability - warrants	21,252,000	26,493,000
Total	21,252,000	26,493,000
Fair Value [Member]
Derivatives, Fair Value [Line Items]
Derivative liability - warrants	21,252,000	26,493,000
Total	$ 21,252,000	$ 26,493,000

Derivative Liability - Warran27

Derivative Liability - Warrants and Derivative Liability - Conversion Option - Schedule of Changes in Level 3 Liabilities Measured at Fair Value (Detail)	6 Months Ended
	Jun. 30, 2016USD ($)
Fair Value Disclosures [Abstract]
Balance - January 1, 2016	$ 26,493,000
Change in fair value of warrant liability	(5,241,000)
Balance - June 30, 2016	$ 21,252,000

Promissory Note - Additional In

Promissory Note - Additional Information (Detail) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Outstanding promissory notes	$ 5,000	$ 30,000
Promissory Notes Due in 2012 [Member]
Debt Instrument [Line Items]
Annual interest rate	10.00%

Promissory Note, Related Party

Promissory Note, Related Party - Additional Information (Detail) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Outstanding promissory notes	$ 23,000	$ 23,000
Officer and Director [Member]
Related Party Transaction [Line Items]
Outstanding promissory notes	23,000	$ 23,000
Amount of promissory notes interest charges	$ 0

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended		3 Months Ended	6 Months Ended	12 Months Ended
	May 31, 2016	Nov. 30, 2015	Jun. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Common Stock Capital Shares Reserved For Future Issuance [Line Items]
Fair value of common stock	$ 0.1
Common shares issued	100,000
Consulting Agreements [Member]
Common Stock Capital Shares Reserved For Future Issuance [Line Items]
Fair value of common stock				$ 0.3
Common shares issued				500,000
Chief Executive Officer, President and Chairman [Member]
Common Stock Capital Shares Reserved For Future Issuance [Line Items]
Shares awarded		300,000
Fair value of common stock			$ 0.1		$ 0.3
Adjustment for withholding tax liability payable			300,000
Fully vested common shares issued			200,000	200,000

Grant Income - Additional Infor

Grant Income - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Revenues [Abstract]
Grant income	$ 231,200	$ 231,200

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail) - USD ($)	Aug. 11, 2016	Aug. 10, 2016	Jun. 30, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Common stock par value			$ 0.001	$ 0.001
Derivative liability - warrants			$ 21,252,000	$ 26,493,000
As Stated [Member]
Subsequent Event [Line Items]
Derivative liability - warrants			21,252,260
Adjustment [Member]
Subsequent Event [Line Items]
Derivative liability - warrants			(21,092,000)
Pro Forma [Member]
Subsequent Event [Line Items]
Derivative liability - warrants			$ 160,260
Private Placement [Member] | Pro Forma [Member]
Subsequent Event [Line Items]
Units issued			6,065,489
Number of shares issued for warrant exercise			12,000,000
Common stock issued to warrant holders as part of financing			9,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares issued for warrant exercise	12,000,000
Subsequent Event [Member] | Warrant Amendment Agreement [Member]
Subsequent Event [Line Items]
Exercise price of warrants	$ 0.60
Class of warrant or right, number of securities called by warrants or rights	12,000,000
Common stock issued to warrant holders as part of financing	9,000,000
Warrants term	5 years
Subsequent Event [Member] | Private Placement [Member]
Subsequent Event [Line Items]
Common stock par value		$ 0.001
Exercise price of warrants	$ 0.50	$ 0.50
Units issued		6,065,489
Class of warrant or right, number of securities called by warrants or rights		6,065,489
Sales price per unit		$ 0.40
Units issued, value		$ 2,500,000
Private placement		On August 10 2016, the Company completed a private placement of units with certain accredited investors The units ("Units") consisted of (i) one share of the Company's common stock, par value $0.001 per share and (ii) one warrant to purchase one share of Company common stock for $0.50 (the "PIPE Warrants").
Proceeds from issuance of warrants	$ 6,000,000
offering costs	925,000
Net proceeds from private placement	$ 7,500,000
Subsequent Event [Member] | Private Placement [Member] | Series C Warrants [Member]
Subsequent Event [Line Items]
Number of shares issued for warrant exercise	7,000,000
Subsequent Event [Member] | Private Placement [Member] | Series C-1 Warrant [Member]
Subsequent Event [Line Items]
Number of shares issued for warrant exercise	5,000,000
Subsequent Event [Member] | Private Placement [Member] | Placement Agent Member
Subsequent Event [Line Items]
Exercise price of warrants		$ 0.40
Class of warrant or right, number of securities called by warrants or rights		606,549

Condensed Consolidated pro Form

Condensed Consolidated pro Forma Balance Sheets (Detail) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Pro Forma Financial Information [Line Items]
Total assets	$ 3,789,050	$ 6,645,367
Other current liabilities	492,365	492,365
Derivative liability - warrants	21,252,000	26,493,000
Total liabilities	23,118,756	28,005,723
Total stockholders' equity	(19,329,706)	(21,360,356)
Total liabilities and stockholders' equity	3,789,050	$ 6,645,367
As Stated [Member]
Pro Forma Financial Information [Line Items]
Total assets	3,789,050
Other current liabilities	1,866,756
Derivative liability - warrants	21,252,260
Total liabilities	23,119,016
Total stockholders' equity	(19,329,966)
Total liabilities and stockholders' equity	3,789,050
Adjustment [Member]
Pro Forma Financial Information [Line Items]
Total assets	7,509,194
Derivative liability - warrants	(21,092,000)
Total liabilities	(21,092,000)
Total stockholders' equity	28,601,194
Total liabilities and stockholders' equity	7,509,194
Pro Forma [Member]
Pro Forma Financial Information [Line Items]
Total assets	11,298,244
Other current liabilities	1,866,756
Derivative liability - warrants	160,260
Total liabilities	2,027,016
Total stockholders' equity	9,271,228
Total liabilities and stockholders' equity	$ 11,298,244

Pro Forma Common Shares Outstan

Pro Forma Common Shares Outstanding (Detail) - shares	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Class of Warrant or Right [Line Items]
Common stock outstanding	71,416,268	70,550,763
Pro Forma [Member]
Class of Warrant or Right [Line Items]
Common stock outstanding	98,481,757
Pro Forma [Member] | Private Placement [Member]
Class of Warrant or Right [Line Items]
Warrants Exercised	12,000,000
Common stock issued to warrant holders as part of financing	9,000,000
Common stock sold as part of Private Placement	6,065,489