Sonnet BioTherapeutics (SONN) 10-Q 16 Aug 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Jun. 30, 2021	Aug. 10, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--09-30
Entity File Number	001-35570
Entity Registrant Name	SONNET BIOTHERAPEUTICS HOLDINGS, INC.
Entity Central Index Key	0001106838
Entity Tax Identification Number	20-2932652
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	100 Overlook Center
Entity Address, Address Line Two	Suite 102
Entity Address, City or Town	Princeton
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08540
City Area Code	(609)
Local Phone Number	375-2227
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	SONN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		24,956,887

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Current assets:
Cash	$ 6,038,190	$ 7,349,903
Prepaid expenses and other current assets	934,213	287,738
Total current assets	6,972,403	7,637,641
Property and equipment, net	58,644	67,889
Operating lease right-of-use asset	144,787	205,919
Other assets		82,959
Total assets	7,175,834	7,994,408
Current liabilities:
Related-party notes	748	21,184
Accounts payable	2,150,791	2,057,559
Accrued expenses	2,508,956	2,063,678
Operating lease liability	91,239	82,060
Deferred income	1,000,000	500,000
Total current liabilities	5,751,734	4,724,481
Note payable		124,878
Operating lease liability	55,464	125,132
Total liabilities	5,807,198	4,974,491
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock; $0.0001 par value: 5,000,000 shares authorized. No shares issued or outstanding
Common stock; $0.0001 par value: 125,000,000 shares authorized; 24,757,847 and 14,724,105 issued and outstanding at June 30, 2021 and September 30, 2020, respectively	2,475	1,472
Additional paid-in capital	56,103,306	39,723,702
Accumulated deficit	(54,737,145)	(36,705,257)
Total stockholders’ equity	1,368,636	3,019,917
Total liabilities and stockholders’ equity	$ 7,175,834	$ 7,994,408

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Sep. 30, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	24,757,847	14,724,105
Common stock, shares outstanding	24,757,847	14,724,105

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating expenses:
Research and development	$ 3,887,261	$ 2,455,822	$ 11,598,835	$ 5,166,485
Acquired in-process research and development		6,826,495		6,826,495
General and administrative	2,352,268	2,484,148	6,541,717	4,753,428
Loss from operations	(6,239,529)	(11,766,465)	(18,140,552)	(16,746,408)
Interest (income) expense		(3,798)		10,344
Foreign exchange loss	(1,513)	(8,787)	(16,837)	(8,787)
Other income	125,501		125,501
Net loss	$ (6,115,541)	$ (11,779,050)	$ (18,031,888)	$ (16,744,851)
Share information:
Net loss per share, basic and diluted	$ (0.27)	$ (1.05)	$ (0.93)	$ (2.23)
Weighted average shares outstanding, basic and diluted	22,502,202	11,263,559	19,482,287	7,518,091

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Sep. 30, 2019	$ 555	$ 9,594,100	$ (12,440,142)	$ (2,845,487)
Balance, shares at Sep. 30, 2019	5,547,643
Sale of common stock, net of issuance costs	$ 13	2,715,017		2,715,030
Sale of common stock, net of issuance costs. shares	128,313
Issuance of common stock to settle related-party notes	$ 1	199,999		200,000
Issuance of common stock to settle related-party notes, shares	8,526
Net loss			(2,469,054)	(2,469,054)
Balance at Dec. 31, 2019	$ 569	12,509,116	(14,909,196)	(2,399,511)
Balance, shares at Dec. 31, 2019	5,684,482
Balance at Sep. 30, 2019	$ 555	9,594,100	(12,440,142)	(2,845,487)
Balance, shares at Sep. 30, 2019	5,547,643
Net loss				(16,744,851)
Balance at Jun. 30, 2020	$ 920	29,563,893	(29,184,993)	379,820
Balance, shares at Jun. 30, 2020	9,200,176
Balance at Dec. 31, 2019	$ 569	12,509,116	(14,909,196)	(2,399,511)
Balance, shares at Dec. 31, 2019	5,684,482
Sale of common stock, net of issuance costs	$ 5	1,354,995		1,355,000
Sale of common stock, net of issuance costs. shares	57,762
Net loss			(2,496,747)	(2,496,747)
Balance at Mar. 31, 2020	$ 574	13,864,111	(17,405,943)	(3,541,258)
Balance, shares at Mar. 31, 2020	5,742,244
Sale of common stock and warrants	$ 215	14,999,785		15,000,000
Sale of common stock and warrants shares	2,152,360
Issuance of common stock to affect the Relief acquisition	$ 76	6,700,052		6,700,128
Issuance of common stock to affect the Relief acquisition, shares	757,933
Issuance of common stock in connection with Merger (Note 3)	$ 55	(6,000,055)		(6,000,000)
Issuance of common stock and payment made in connection with Merger (Note 3), shares	547,639
Net loss			(11,779,050)	(11,779,050)
Balance at Jun. 30, 2020	$ 920	29,563,893	(29,184,993)	379,820
Balance, shares at Jun. 30, 2020	9,200,176
Balance at Sep. 30, 2020	$ 1,472	39,723,702	(36,705,257)	3,019,917
Balance, shares at Sep. 30, 2020	14,724,105
Warrant exercises	$ 2			2
Warrant exercises, shares	23,863
Net share settlement of warrants	$ 243	(243)
Net share settlement of warrants, shares	2,427,761
Share-based compensation		370,055		370,055
Net loss			(5,877,240)	(5,877,240)
Balance at Dec. 31, 2020	$ 1,717	40,093,514	(42,582,497)	(2,487,266)
Balance, shares at Dec. 31, 2020	17,175,729
Balance at Sep. 30, 2020	$ 1,472	39,723,702	(36,705,257)	3,019,917
Balance, shares at Sep. 30, 2020	14,724,105
Net loss				(18,031,888)
Balance at Jun. 30, 2021	$ 2,475	56,103,306	(54,737,145)	1,368,636
Balance, shares at Jun. 30, 2021	24,757,847
Balance at Dec. 31, 2020	$ 1,717	40,093,514	(42,582,497)	(2,487,266)
Balance, shares at Dec. 31, 2020	17,175,729
Sale of common stock, net of issuance costs	$ 402	10,178,225		10,178,627
Sale of common stock, net of issuance costs. shares	4,021,561
Share-based compensation		370,055		370,055
Net loss			(6,039,107)	(6,039,107)
Balance at Mar. 31, 2021	$ 2,119	50,641,794	(48,621,604)	2,022,309
Balance, shares at Mar. 31, 2021	21,197,290
Sale of common stock, net of issuance costs	$ 343	5,143,869		5,144,212
Sale of common stock, net of issuance costs. shares	3,432,677
Issuance of common stock on vesting of restricted stock units	$ 13	(13)
Issuance of common stock on vetsing of restricted stock units	127,880
Share-based compensation		317,656		317,656
Net loss			(6,115,541)	(6,115,541)
Balance at Jun. 30, 2021	$ 2,475	$ 56,103,306	$ (54,737,145)	$ 1,368,636
Balance, shares at Jun. 30, 2021	24,757,847

Consolidated Statements Cash Fl

Consolidated Statements Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (18,031,888)	$ (16,744,851)
Adjustments to reconcile net loss to net cash used in operating activities:
Acquired in-process research and development		6,826,495
Depreciation	9,245	5,212
Amortization of operating lease right-of-use asset	61,132	30,873
Share-based compensation	1,057,766
Non-cash interest	623
Forgiveness of note payable	(125,501)
Change in operating assets and liabilities:
Prepaid expenses and other current assets	(646,475)	(361,555)
Other assets	82,959	(82,957)
Accounts payable	93,232	532,991
Accrued expenses	445,278	(248,146)
Deferred income	500,000
Operating lease liability	(60,489)	(30,078)
Net cash used in operating activities	(16,614,118)	(10,072,016)
Cash flows from investing activities:
Purchases of property and equipment		(76,183)
Net cash used in investing activities		(76,183)
Cash flows from financing activities:
Proceeds from the issuance of common stock and warrants, net of issuance costs	15,322,839	19,070,030
Proceeds from the exercise of warrants	2
Payment to affect the Merger		(6,000,000)
Proceeds from the receipt of loan		124,375
Proceeds received from related-party notes		55,000
Repayments of related-party notes	(20,436)	(46,461)
Cash received in the Relief acquisition		16,194
Net cash provided by financing activities	15,302,405	13,219,138
Net (decrease) increase in cash	(1,311,713)	3,070,939
Cash, beginning of period	7,349,903	35,653
Cash, end of period	6,038,190	3,106,592
Supplemental disclosure of non-cash investing and financing activities:
Net settlement of warrants	243
Issuance of common stock on vesting of restricted stock units	13
Issuance of common stock to settle related-party notes		200,000
Issuance of common stock for the Relief acquisition		6,700,128
Right of use asset and liability recorded upon adoption of ASC 842		$ 255,938

Organization and description of

Organization and description of business	9 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and description of business	Organization and description of business Description of business Sonnet BioTherapeutics, Inc. (“Sonnet”) was incorporated as a New Jersey corporation on April 6, 2015. Sonnet is a clinical stage, oncology-focused biotechnology company with a proprietary platform for innovating biologic medicines of single- or bi-specific action. Known as FHAB™ (Fully Human Albumin Binding), the technology utilizes a fully human single chain antibody fragment (scFv) that binds to and “hitch-hikes” on human serum albumin (HSA) for transport to target tissues. Sonnet’s lead proprietary asset, SON-1010, is a fully human version of Interleukin 12 (“IL-12”), covalently linked to the F H H On April 1, 2020, Sonnet completed its merger (the “Merger”) with publicly-held Chanticleer Holdings, Inc. (“Chanticleer”) in accordance with the terms of the Plan of Merger dated October 10, 2019, as amended by Amendment No. 1 on February 7, 2020 (the “Merger Agreement”). Immediately prior to the Merger, Chanticleer spun-off its restaurant operations to a spin-off entity and no assets or liabilities of the restaurant business remained after the spin-off. After the Merger, Chanticleer changed its name to Sonnet BioTherapeutics Holdings, Inc. (“Sonnet Holdings” or the “Company”) and is focused on advancing Sonnet’s pipeline of oncology candidates and the strategic expansion of Sonnet’s technology platform into other human disease. Global pandemic - COVID-19 On March 10, 2020, the World Health Organization characterized the novel COVID-19 virus as a global pandemic. There is significant uncertainty as to the likely effects of this disease which may, among other things, materially impact the Company’s planned clinical trials. This pandemic or outbreak could result in difficulty securing clinical trial site locations, clinical research organizations (“CROs”), and/or trial monitors and other critical vendors and consultants supporting the trial. In addition, outbreaks or the perception of an outbreak near a clinical trial site location could impact the Company’s ability to enroll patients. These situations, or others associated with COVID-19, could cause delays in the Company’s clinical trial plans and could increase expected costs, all of which could have a material adverse effect on the Company’s business and its financial condition. At the current time, the Company is unable to quantify the potential effects of this pandemic on its future operations. Liquidity The Company has incurred recurring losses and negative cash flows from operations activities since inception and it expects to generate losses from operations for the foreseeable future primarily due to research and development costs for its potential product candidates. The Company believes its cash of $ 6.0 The Company filed a registration statement on Form S-1 on July 22, 2021, as subsequently amended, registering an aggregate of $ 34.5 The Company entered into an At-the-Market Sales Agreement with BTIG on February 5, 2021 (the “Sales Agreement”). Pursuant to the Sales Agreement, the Company had the ability to offer and sell, from time to time, through BTIG, as sales agent and/or principal, shares of its common stock, having an aggregate offering price of up to $ 15,875,000 7,454,238 15.9 15.3 On May 2, 2021, the Company entered into a License Agreement with New Life Therapeutics PTE, LTD. (See Note 8). The Company plans to secure additional capital in the future through equity or debt financings, partnerships, collaborations, or other sources to carry out the Company’s planned development activities. If additional capital is not available when required, the Company may need to delay or curtail its operations until such funding is received. Various internal and external factors will affect whether and when the Company’s product candidates become approved for marketing and successful commercialization. The regulatory approval and market acceptance of the Company’s product candidates, length of time and cost of developing and commercializing these product candidates and/or failure of them at any stage of the approval process will materially affect the Company’s financial condition and future operations. Operations since inception have consisted primarily of organizing the Company, securing financing, developing its technologies through performing research and development and conducting preclinical studies. The Company faces risks associated with companies whose products are in development. These risks include the need for additional financing to complete its research and development, achieving its research and development objectives, defending its intellectual property rights, recruiting and retaining skilled personnel, and dependence on key members of management.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies a. Basis of presentation The accompanying unaudited interim consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Updates (ASUs”) of the Financial Accounting Standards Board (“FASB”). In the opinion of management, the accompanying unaudited interim consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited interim financial statements) considered necessary to present fairly the Company’s financial position as of June 30, 2021 and its results of operations and cash flows for the three and nine months ended June 30, 2021 and 2020. The unaudited interim consolidated financial statements presented herein do not contain the required disclosures under U.S. GAAP for annual financial statements and should be read in conjunction with the annual audited financial statements and related notes of Sonnet Holdings as of and for the year ended September 30, 2020 included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2020. b. Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. c. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed, and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Significant estimates include the recording of prepayments and accruals related to research and development. d. Property and equipment Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets. Expenditures for repairs and maintenance that do not extend the estimated useful life or improve an asset are expensed as incurred. Upon retirement or sale, the cost and related accumulated depreciation and amortization of assets disposed of are removed from the accounts, and any resulting gain or loss is included in the statement of operations. As of June 30, 2021, the property and equipment balance was comprised of leasehold improvements and computer equipment associated with the Princeton office lease discussed in Note 7. e. Collaboration revenue Collaboration arrangements may contain multiple components, which may include (i) licenses; (ii) research and development activities; and (iii) the manufacturing and supply of certain materials. Payments pursuant to these arrangements may include non-refundable payments, upfront payments, milestone payments upon the achievement of significant regulatory and development events or sales of product at certain agreed-upon amounts, sales milestones and royalties on product sales. The amount of variable consideration is constrained until it is probable that the revenue is not at a significant risk of reversal in a future period. In determining the appropriate amount of revenue to be recognized as the Company fulfills its obligations under a collaboration arrangement, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are capable of being distinct; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue as the Company satisfies each performance obligation. The Company applies significant judgment when evaluating whether contractual obligations represent distinct performance obligations, allocating transaction price to performance obligations within a contract, determining when performance obligations have been met, and assessing the recognition of variable consideration. When consideration is received prior to the Company completing its performance obligation under the terms of a contract, a contract liability is recorded as deferred income. Deferred income expected to be recognized as revenue within the twelve months following the balance sheet date is classified as current liabilities. On May 2, 2021, the Company entered into a License Agreement (the “New Life Agreement”) with New Life Therapeutics PTE, LTD (“New Life”). See Note 9 for further discussion of the Company's revenue recognition associated with the New Life Agreement. f. Net loss per share Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during each period (and potential shares of common stock that are exercisable for little or no consideration). Included in basic weighted-average number of shares of common stock outstanding during the three and nine months ended June 30, 2021 are the Series B warrants and certain warrants issued to the spin-off entity with exercise prices of $ 0.0001 0.01 Diluted loss per share includes the effect, if any, from the potential exercise or conversion of securities such as common stock warrants and stock options which would result in the issuance of incremental shares of common stock. For diluted net loss per share, the weighted-average number of shares of common stock is the same for basic net loss per share due to the fact that when a net loss exists, dilutive securities are not included in the calculation as the impact is anti-dilutive. The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding as they would be anti-dilutive: Schedule of Potentially Dilutive Securities June 30, 2021 June 30, 2020 Warrants 105,812 105,812 Legacy Chanticleer warrants 17,760 20,180 Series A warrants — 3,300,066 Series C warrants 11,329,463 — Unvested restricted stock 363,268 — 11,816,303 3,426,058 g. Recent accounting pronouncements Recently Announced In December 2019, the FASB issued ASU 2019-12, “Income Taxes Topic 740-Simplifying the Accounting for Income Taxes” (“ASU 2019-12”), which intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application of Topic 740. This guidance is effective for fiscal years beginning after December 15, 2020, including interim periods therein, and early adoption is permitted. The Company is currently evaluating the new standard, but adoption is not expected to have a material impact on its financial condition, results of operations, cash flows, and financial statement disclosures. Recently Adopted In August 2018, the FASB issued ASU 2018-13, “Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurements” (“ASU 2018-13”), which changes the fair value measurement disclosure requirements of ASC 820. The goal of the ASU is to improve the effectiveness of ASC 820’s disclosure requirements. The adoption of ASU 2018-13 on October 1, 2019, did not have a material impact on the consolidated financial statements.

Merger with Chanticleer

Merger with Chanticleer	9 Months Ended
	Jun. 30, 2021
Merger With Chanticleer
Merger with Chanticleer	3. Merger with Chanticleer Sonnet merged with Chanticleer Holdings on April 1, 2020. The Merger was accounted for as a reverse recapitalization with Sonnet as the accounting acquirer. Legacy Chanticleer shareholders were issued 547,639 6.0 6.0

Relief Acquisition

Relief Acquisition	9 Months Ended
	Jun. 30, 2021
Relief Acquisition
Relief Acquisition	4. Relief Acquisition In August 2019, the Company executed a Share Exchange Agreement with Relief Holdings, in which the Company agreed to acquire the outstanding shares of Relief. The Company issued 757,933 For accounting purposes, the Company determined that the acquisition of Relief did not meet the definition of a business and was accounted for as an asset acquisition since substantially all of the fair value of the assets acquired was concentrated in a single identified intangible asset, atexakin alfa. Schedule of Assets and Liability Acquired Fair value of common stock issued: $ 6,700,128 Assets acquired: Cash $ 16,194 Prepaid expenses and other current assets 29,311 In-process research and development (IPPR&D) 6,826,495 Total assets acquired 6,872,000 Liabilities assumed: Accounts payable 45,757 Accrued expenses 126,115 Total liabilities assumed 171,872 Net assets acquired $ 6,700,128 The Company expensed the acquired IPR&D as of the acquisition date since further development and regulatory approval are required.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Jun. 30, 2021
Accrued Expenses
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following: Schedule of Accrued Expenses June 30, September 30, 2021 2020 Compensation and benefits $ 846,488 $ 1,065,398 Research and development 1,460,781 519,159 Professional fees 191,568 479,121 Other 10,119 — Accrued Expenses $ 2,508,956 $ 2,063,678

Debt

Debt	9 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	6. Debt Related-party notes During the nine months ended June 30, 2020, the Company issued unsecured notes payable to various related parties resulting in cash proceeds of $ 55,000 20,436 46,461 In October 2019, the Company issued 8,526 0.2 PPP Loan On March 27, 2020, the U.S. federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act includes a provision for a Paycheck Protection Program (“PPP”), administered by the U.S. Small Business Administration (“SBA”) and further amended by the Paycheck Protection Program Flexibility Act of 2020 (“PPP Flexibility Act”), which was enacted on June 5, 2020. In May 2020, the Company received a PPP Loan of $ 0.1 two-year term 1.0% Under the terms of the CARES Act, the Company could apply for and be granted forgiveness for all or a portion of the PPP Loan. Such forgiveness, if any, would be determined, subject to limitations, based on the use of loan proceeds for payroll costs, rent and utility costs and provided that only a portion of the use of proceeds are for non-payroll costs. The unforgiven portion of the PPP Loan could be repaid by the Company at any time prior to maturity with no prepayment penalty. The Company’s PPP Loan and the related interest were forgiven in full in June 2021. Forgiveness of the PPP Loan is included in other income within the Company’s consolidated statement of operations for the three and nine months ended June 30, 2021.

Leases

Leases	9 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	7. Leases The Company adopted ASC 842, “Leases” (“ASC 842”), on October 1, 2019. Through September 30, 2019, the Company’s leases consisted of leased office space under various operating leases with terms of one year or less. These leases qualified as short-term leases and as such, there was no cumulative impact from the adoption of ASC 842. In December 2019, the Company entered a 36-month lease for office space in Princeton, New Jersey, which commenced February 1, 2020. At that time, the Company terminated its existing month-to-month leases for office space. The components of lease expense for the nine months ended June 30, 2021 are as follows: Schedule of Lease Expenses Lease expense Operating lease expense $ 76,617 Short-term lease expense 12,555 Total lease cost $ 89,172 At June 30, 2021, the weighted-average remaining lease term was 1.58 12% Cash paid for amounts included in the measurement of lease liabilities: Schedule of Operating Lease Liabilities Operating cash flow from operating lease $ 75,974 Future minimum lease payments under non-cancellable leases at June 30, 2021 are as follows: Schedule of Future Minimum Lease Payments Fiscal year 2021 (excluding the nine months ended June 30, 2021) $ 25,537 2022 103,440 2023 34,695 Total undiscounted lease payments 163,672 Less: imputed interest (16,969 ) Total lease liabilities $ 146,703

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Legal Proceedings From time to time, the Company is a party to various lawsuits, claims, and other legal proceedings that arise in the ordinary course of its business. While the outcomes of these matters are uncertain, management does not expect that the ultimate costs to resolve these matters will have a material adverse effect on the Company’s financial position, results of operations, or cash flows. License Agreements The Company has entered into a Discovery Collaboration Agreement (the “Collaboration Agreement”) with XOMA (US) LLC (“XOMA”), pursuant to which XOMA granted to the Company a non-exclusive, non-transferrable license and/or right to use certain materials, technologies and related information related to discovery, optimization and development of antibodies and related proteins and to develop and commercialize products thereunder. The Company is obligated to make contingent milestone payments to XOMA totaling $ 3.8 The Company has entered into a License Agreement (the “ARES License Agreement”) with Ares Trading, a wholly-owned subsidiary of Merck KGaA (“ARES”). Under the terms of the ARES License Agreement, ARES has granted the Company a sublicensable, exclusive, worldwide, royalty-bearing license on proprietary patents to research, develop, use and commercialize products using atexakin alfa (“Atexakin”), a low dose formulation of human interleukin-6 in peripheral neuropathies and vascular complications. Pursuant to the ARES License Agreement, the Company will pay ARES high single-digit royalties on net sales of products sold by the Company. Royalties are payable on a product-by-product and country-by-country basis until the later of (i) a specified period of time after the first commercial sale in such country, and (ii) the last date on which such product is covered by a valid claim in such country. Employment Agreements The Company has entered into employment contracts with its officers and certain employees that provide for severance and continuation of benefits in the event of termination of employment either by the Company without cause or by the employee for good reason, both as defined in the contract. In addition, in the event of termination of employment following a change in control, as defined, either by the Company without cause or by the employee for good reason, any unvested portion of the employee’s initial stock option grant becomes immediately vested.

License and Collaboration Agree

License and Collaboration Agreement	9 Months Ended
	Jun. 30, 2021
License And Collaboration Agreement
License and Collaboration Agreement	9. License and Collaboration Agreement Under the New Life Agreement, the Company granted New Life an exclusive license (with the right to sublicense) to develop and commercialize pharmaceutical preparations containing a specific recombinant human interleukin-6, SON-080 (the “Compound”) (such preparations, the “Products”) for the prevention, treatment or palliation of diabetic peripheral neuropathy in humans (the “DPN Field”) in Malaysia, Singapore, Indonesia, Thailand, Philippines, Vietnam, Brunei, Myanmar, Lao PDR and Cambodia (the “Exclusive Territory”). New Life may exercise the option to expand (1) the field of the exclusive license to include the prevention, treatment or palliation of chemotherapy-induced peripheral neuropathy in humans (the “CIPN Field”), which option is non-exclusive and will expire on December 31, 2021; and/or (2) the territorial scope of the license to include the People’s Republic of China, Hong Kong and/or India, which option is exclusive and will also expire on December 31, 2021. If these options are exercised, the terms of the CIPN Field and the territory expansion will be negotiated by the parties. The Company will retain all rights to manufacture Compounds and Products anywhere in the world. The Company and New Life shall enter into a follow-on supply agreement pursuant to which the Company shall supply to New Life Products for development and commercialization thereof in the DPN Field (and the CIPN Field, if applicable) in the Exclusive Territory on terms to be negotiated by the parties. The Company will also assist in transferring certain preclinical and clinical development know-how that is instrumental in New Life’s ability to benefit from the license. New Life will bear the cost of, and be responsible for, among other things, conducting clinical studies and additional non-clinical studies and other developmental and regulatory activities for and commercializing Products in the DPN Field (and the CIPN Field, if applicable) in the Exclusive Territory. New Life paid the Company a $ 0.5 0.5 New Life is also obligated to pay a non-refundable deferred license fee of an additional $ 1.0 19.0 12 30 The New Life Agreement will remain in effect on a Product-by-Product, country-by-country basis and will expire upon the expiration of the Royalty Term for the last-to-expire Product in the last-to-expire country, subject to (i) each party’s early termination rights including for material breach or insolvency or bankruptcy of the other party and (ii) the Company’s Buy Back Right and New Life’s Give Back Right (as defined below). In addition, New Life granted to the Company an exclusive option to buy back the rights granted by the Company to New Life and the Company granted New Life the right to give back the rights with respect to Products in the DPN Field and/or the CIPN Field (if applicable) in one or more countries in the Exclusive Territory on terms to be agreed upon, which options will expire upon the initiation of a Phase III Trial for the applicable Product. Revenue Recognition The Company first assessed the New Life Agreement under ASC 808, Collaborative Arrangements (“ASC 808”) to determine whether the New Life Agreement or units of accounts within the New Life Agreement represent a collaborative arrangement based on the risks and rewards and activities of the parties. The Company concluded that New Life represented a customer and applied relevant guidance from ASC 606, Revenue from Contracts with Customers (“ASC 606”) to evaluate the appropriate accounting under the New Life Agreement. In accordance with this guidance, the Company identified the following obligations under the arrangement: (i) License to develop, market, import, use and commercialize the Product in the Field in the Exclusive Territory (the “License”); and (ii) transfer of know-how and clinical development and regulatory activities (“R&D Activities”). The options to expand the CIPN Field and territory as well as the future supply agreement represent optional purchases, which are accounted for as separate contracts unless they convey a material right to the customer. The Company evaluated these separate contracts and did not identify any material right to be present. The Company determined that License and the R&D services are not distinct from each other and therefore combined these material promises into a single performance obligation. The Company determined the initial transaction price of the single performance obligation to be $ 1.0 The Company has deferred the entire $ 1.0

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Stockholders’ Equity	10. Stockholders’ Equity Common stock During the nine months ended June 30, 2021, the Company sold common stock of 7,454,238 15.9 15.3 127,880 Prior to the Merger, during the six months ended March 31, 2020, the Company sold 186,075 93,038 29.32 4.1 8,526 0.2 Upon consummation of the Merger, the Company issued 547,639 206,371 0.01 1,820 26.60 On April 1, 2020, the Company sold 1,699,232 15 3,300,066 5.3976 2,247,726 0.0001 453,128 The Company issued 757,933 Common stock warrants As of June 30, 2021, the following equity-classified warrants and related terms were outstanding: Schedule of Warrants Outstanding Warrants Outstanding Exercise Price Expiration Date Warrants 105,812 $ 29.32 October 1, 2022 March 10, 2023 Chanticleer warrants 17,760 $ 58.50 91.00 April 30, 2027 December 17, 2028 Series B warrants 42,373 $ 0.0001 April 16, 2025 Series C warrants 11,329,463 $ 3.19 October 16, 2025 11,495,408 During the nine months ended June 30, 2021, the Series B warrant holders exercised 23,863 2 2,242,427 2,242,339 During the nine months ended June 30, 2021, the Chanticleer warrants to purchase 186,161 0.01 185,422

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	11. Share-Based Compensation In April 2020, the Company adopted the 2020 Omnibus Equity Incentive Plan (the “Plan”). The total number of shares authorized under the Plan as of June 30, 2021 was 687,029 Restricted Stock Units In July of 2020, 653,846 In March of 2021, an additional 47,000 The Company recorded share-based compensation expense associated with the RSUs in its accompanying statements of operations. Schedule of Share-based Compensation Expense Three Months Ended Nine Months Ended June 30, 2021 June 30, 2021 Research and development $ 105,712 $ 317,101 General and administrative 211,944 740,665 $ 317,656 $ 1,057,766 The following table summarizes RSU activity under the Plan: Schedule of Restricted Stock Units Activity RSU Weighted Unvested balance at September 30, 2020 653,845 $ 3.63 Granted 47,000 $ 2.38 Vested (326,920 ) $ 3.63 Forfeited (10,657 ) $ 3.63 Unvested balance at June 30, 2021 363,268 $ 3.47 As of June 30, 2021, total unrecognized compensation expense relating to unvested RSUs granted was $ 1.1 one year

Subsequent Event

Subsequent Event	9 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Event	12. Subsequent Event The Company has evaluated subsequent events and there are no items requiring disclosure except the following: The Company filed a registration statement on Form S-1 on July 22, 2021, as subsequently amended, registering an aggregate of $ 34.5

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of presentation	a. Basis of presentation The accompanying unaudited interim consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Updates (ASUs”) of the Financial Accounting Standards Board (“FASB”). In the opinion of management, the accompanying unaudited interim consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited interim financial statements) considered necessary to present fairly the Company’s financial position as of June 30, 2021 and its results of operations and cash flows for the three and nine months ended June 30, 2021 and 2020. The unaudited interim consolidated financial statements presented herein do not contain the required disclosures under U.S. GAAP for annual financial statements and should be read in conjunction with the annual audited financial statements and related notes of Sonnet Holdings as of and for the year ended September 30, 2020 included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2020.
Consolidation	b. Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Use of estimates	c. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed, and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Significant estimates include the recording of prepayments and accruals related to research and development.
Property and equipment	d. Property and equipment Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets. Expenditures for repairs and maintenance that do not extend the estimated useful life or improve an asset are expensed as incurred. Upon retirement or sale, the cost and related accumulated depreciation and amortization of assets disposed of are removed from the accounts, and any resulting gain or loss is included in the statement of operations. As of June 30, 2021, the property and equipment balance was comprised of leasehold improvements and computer equipment associated with the Princeton office lease discussed in Note 7. e. Collaboration revenue Collaboration arrangements may contain multiple components, which may include (i) licenses; (ii) research and development activities; and (iii) the manufacturing and supply of certain materials. Payments pursuant to these arrangements may include non-refundable payments, upfront payments, milestone payments upon the achievement of significant regulatory and development events or sales of product at certain agreed-upon amounts, sales milestones and royalties on product sales. The amount of variable consideration is constrained until it is probable that the revenue is not at a significant risk of reversal in a future period. In determining the appropriate amount of revenue to be recognized as the Company fulfills its obligations under a collaboration arrangement, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are capable of being distinct; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue as the Company satisfies each performance obligation. The Company applies significant judgment when evaluating whether contractual obligations represent distinct performance obligations, allocating transaction price to performance obligations within a contract, determining when performance obligations have been met, and assessing the recognition of variable consideration. When consideration is received prior to the Company completing its performance obligation under the terms of a contract, a contract liability is recorded as deferred income. Deferred income expected to be recognized as revenue within the twelve months following the balance sheet date is classified as current liabilities. On May 2, 2021, the Company entered into a License Agreement (the “New Life Agreement”) with New Life Therapeutics PTE, LTD (“New Life”). See Note 9 for further discussion of the Company's revenue recognition associated with the New Life Agreement.
Net loss per share	f. Net loss per share Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during each period (and potential shares of common stock that are exercisable for little or no consideration). Included in basic weighted-average number of shares of common stock outstanding during the three and nine months ended June 30, 2021 are the Series B warrants and certain warrants issued to the spin-off entity with exercise prices of $ 0.0001 0.01 Diluted loss per share includes the effect, if any, from the potential exercise or conversion of securities such as common stock warrants and stock options which would result in the issuance of incremental shares of common stock. For diluted net loss per share, the weighted-average number of shares of common stock is the same for basic net loss per share due to the fact that when a net loss exists, dilutive securities are not included in the calculation as the impact is anti-dilutive. The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding as they would be anti-dilutive: Schedule of Potentially Dilutive Securities June 30, 2021 June 30, 2020 Warrants 105,812 105,812 Legacy Chanticleer warrants 17,760 20,180 Series A warrants — 3,300,066 Series C warrants 11,329,463 — Unvested restricted stock 363,268 — 11,816,303 3,426,058
Recent accounting pronouncements	g. Recent accounting pronouncements Recently Announced In December 2019, the FASB issued ASU 2019-12, “Income Taxes Topic 740-Simplifying the Accounting for Income Taxes” (“ASU 2019-12”), which intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application of Topic 740. This guidance is effective for fiscal years beginning after December 15, 2020, including interim periods therein, and early adoption is permitted. The Company is currently evaluating the new standard, but adoption is not expected to have a material impact on its financial condition, results of operations, cash flows, and financial statement disclosures. Recently Adopted In August 2018, the FASB issued ASU 2018-13, “Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurements” (“ASU 2018-13”), which changes the fair value measurement disclosure requirements of ASC 820. The goal of the ASU is to improve the effectiveness of ASC 820’s disclosure requirements. The adoption of ASU 2018-13 on October 1, 2019, did not have a material impact on the consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Schedule of Potentially Dilutive Securities	The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding as they would be anti-dilutive: Schedule of Potentially Dilutive Securities June 30, 2021 June 30, 2020 Warrants 105,812 105,812 Legacy Chanticleer warrants 17,760 20,180 Series A warrants — 3,300,066 Series C warrants 11,329,463 — Unvested restricted stock 363,268 — 11,816,303 3,426,058

Relief Acquisition (Tables)

Relief Acquisition (Tables)	9 Months Ended
	Jun. 30, 2021
Relief Acquisition
Schedule of Assets and Liability Acquired	Schedule of Assets and Liability Acquired Fair value of common stock issued: $ 6,700,128 Assets acquired: Cash $ 16,194 Prepaid expenses and other current assets 29,311 In-process research and development (IPPR&D) 6,826,495 Total assets acquired 6,872,000 Liabilities assumed: Accounts payable 45,757 Accrued expenses 126,115 Total liabilities assumed 171,872 Net assets acquired $ 6,700,128

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Jun. 30, 2021
Accrued Expenses
Schedule of Accrued Expenses	Accrued expenses consisted of the following: Schedule of Accrued Expenses June 30, September 30, 2021 2020 Compensation and benefits $ 846,488 $ 1,065,398 Research and development 1,460,781 519,159 Professional fees 191,568 479,121 Other 10,119 — Accrued Expenses $ 2,508,956 $ 2,063,678

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of Lease Expenses	The components of lease expense for the nine months ended June 30, 2021 are as follows: Schedule of Lease Expenses Lease expense Operating lease expense $ 76,617 Short-term lease expense 12,555 Total lease cost $ 89,172
Schedule of Operating Lease Liabilities	Cash paid for amounts included in the measurement of lease liabilities: Schedule of Operating Lease Liabilities Operating cash flow from operating lease $ 75,974
Schedule of Future Minimum Lease Payments	Future minimum lease payments under non-cancellable leases at June 30, 2021 are as follows: Schedule of Future Minimum Lease Payments Fiscal year 2021 (excluding the nine months ended June 30, 2021) $ 25,537 2022 103,440 2023 34,695 Total undiscounted lease payments 163,672 Less: imputed interest (16,969 ) Total lease liabilities $ 146,703

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	9 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Schedule of Warrants Outstanding	As of June 30, 2021, the following equity-classified warrants and related terms were outstanding: Schedule of Warrants Outstanding Warrants Outstanding Exercise Price Expiration Date Warrants 105,812 $ 29.32 October 1, 2022 March 10, 2023 Chanticleer warrants 17,760 $ 58.50 91.00 April 30, 2027 December 17, 2028 Series B warrants 42,373 $ 0.0001 April 16, 2025 Series C warrants 11,329,463 $ 3.19 October 16, 2025 11,495,408

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	The Company recorded share-based compensation expense associated with the RSUs in its accompanying statements of operations. Schedule of Share-based Compensation Expense Three Months Ended Nine Months Ended June 30, 2021 June 30, 2021 Research and development $ 105,712 $ 317,101 General and administrative 211,944 740,665 $ 317,656 $ 1,057,766
Schedule of Restricted Stock Units Activity	The following table summarizes RSU activity under the Plan: Schedule of Restricted Stock Units Activity RSU Weighted Unvested balance at September 30, 2020 653,845 $ 3.63 Granted 47,000 $ 2.38 Vested (326,920 ) $ 3.63 Forfeited (10,657 ) $ 3.63 Unvested balance at June 30, 2021 363,268 $ 3.47

Organization and description _2

Organization and description of business (Details Narrative) - USD ($)	Jul. 22, 2021	Feb. 05, 2021	Jul. 22, 2021	Jun. 30, 2021	Sep. 30, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Cash				$ 6,038,190	$ 7,349,903
Subsequent Event [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from sale of common stock			$ 34,500,000
At The Market Sales Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from sale of common stock		$ 15,875,000		$ 15,300,000
Sale of stock, shares				7,454,238
Gross proceeds from sale of common stock				$ 15,900,000
At The Market Sales Agreement [Member] | Subsequent Event [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from sale of common stock	$ 34,500,000

Schedule of Potentially Dilutiv

Schedule of Potentially Dilutive Securities (Details) - shares	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	11,816,303	3,426,058
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	105,812	105,812
Legacy Chanticleer Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	17,760	20,180
Series A Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares		3,300,066
Series C Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	11,329,463
Unvested Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive weighted average shares	363,268

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - $ / shares	3 Months Ended	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Series B Warrant [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Basic weighted-average number of shares exercise price	$ 0.0001	$ 0.01

Merger with Chanticleer (Detail

Merger with Chanticleer (Details Narrative) - USD ($)	Apr. 02, 2021	Aug. 31, 2019	Jun. 30, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of common stock issued		757,933
Number of common stock issued, value			$ 5,144,212	$ 10,178,627	$ 1,355,000	$ 2,715,030
Spin Off Entity [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in additional paid-in capital	$ 6,000,000
Common Stock [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of common stock issued	547,639		3,432,677	4,021,561	57,762	128,313
Number of common stock issued, value	$ 6,000,000		$ 343	$ 402	$ 5	$ 13

Schedule of Assets and Liabilit

Schedule of Assets and Liability Acquired (Details) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2021
Acquired Indefinite-lived Intangible Assets [Line Items]
Fair value of common stock issued:	$ 6,700,128
Relief Holdings [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Fair value of common stock issued:		$ 6,700,128
Cash		16,194
Prepaid expenses and other current assets		29,311
In-process research and development (IPPR&D)		6,826,495
Total assets acquired		6,872,000
Accounts payable		45,757
Accrued expenses		126,115
Total liabilities assumed		171,872
Total net assets acquired		$ 6,700,128

Relief Acquisition (Details Nar

Relief Acquisition (Details Narrative)	1 Months Ended
	Aug. 31, 2019shares
Relief Acquisition
Number of common stock issued	757,933

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Accrued Expenses
Compensation and benefits	$ 846,488	$ 1,065,398
Research and development	1,460,781	519,159
Professional fees	191,568	479,121
Other	10,119
Accrued Expenses	$ 2,508,956	$ 2,063,678

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended	9 Months Ended
	May 31, 2020	Oct. 30, 2019	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds received from related-party notes					$ 55,000
Repayments of related-party notes				$ 20,436	$ 46,461
Issuance of common stock to settle related-party notes, shares		8,526
Issuance of common stock to settle related-party notes		$ 200,000	$ 200,000
Paycheck Protection Program [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Loans Payable	$ 100,000
Debt Instrument, Description	two-year term
Debt instrument, interest rate	1.00%

Schedule of Lease Expenses (Det

Schedule of Lease Expenses (Details)	9 Months Ended
	Jun. 30, 2021USD ($)
Leases [Abstract]
Operating lease expense	$ 76,617
Short-term lease expense	12,555
Total lease cost	$ 89,172

Schedule of Operating Lease Lia

Schedule of Operating Lease Liabilities (Details)	9 Months Ended
	Jun. 30, 2021USD ($)
Leases [Abstract]
Operating cash flow from operating lease	$ 75,974

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments (Details)	Jun. 30, 2021USD ($)
Leases [Abstract]
2021 (excluding the nine months ended June 30, 2021)	$ 25,537
2022	103,440
2023	34,695
Total undiscounted lease payments	163,672
Less: imputed interest	(16,969)
Total lease liabilities	$ 146,703

Leases (Details Narrative)

Leases (Details Narrative)	Jun. 30, 2021
Leases [Abstract]
Weighted-average remaining lease term	1 year 6 months 29 days
Weighted average discount rate	12.00%

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) $ in Millions	9 Months Ended
	Jun. 30, 2021USD ($)
Discovery Collaboration Agreements [Member] | XOMA [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments	$ 3.8

License and Collaboration Agr_2

License and Collaboration Agreement (Details Narrative) - USD ($)	Aug. 31, 2021	Jun. 30, 2021	Jun. 30, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative arrangement, rights and obligations			New Life is also obligated to pay a non-refundable deferred license fee of an additional $1.0 million at the time of the satisfaction of certain milestones, as well as potential additional milestone payments to the Company of up to $19.0 million subject to the achievement of certain development and commercialization milestones. In addition, during the Royalty Term (as defined below), New Life is obligated to pay the Company tiered double digit royalties ranging from 12% to 30% based on annual net sales of Products in the Exclusive Territory. The “Royalty Term” means, on a Product-by-Product and a country-by-country basis in the Exclusive Territory, the period commencing on the date of the first commercial sale (subject to certain conditions) of such Product in such country in the Exclusive Territory and continuing until New Life ceases commercialization of such Product in the DIPN Field (or CIPN Field, if applicable).
Performance obligation			$ 1,000,000
Deferred Revenue		$ 1,000,000	1,000,000
License Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds for negotiate license agreement	$ 500,000
New Life Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds for negotiate license agreement			$ 500,000
Proceeds from license fees		1,000,000
Milestone payments		$ 19
New Life Agreement [Member] | Minimum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalties, percentage		1200.00%	1200.00%
New Life Agreement [Member] | Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalties, percentage		3000.00%	3000.00%

Schedule of Warrants Outstandin

Schedule of Warrants Outstanding (Details)	9 Months Ended
	Jun. 30, 2021$ / sharesshares
Warrant One [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	105,812
Exercise price | $ / shares	$ 29.32
Warrant One [Member] | Minimum [Member]
Class of Warrant or Right [Line Items]
Expiration date	Oct. 1, 2022
Warrant One [Member] | Maximum [Member]
Class of Warrant or Right [Line Items]
Expiration date	Mar. 10, 2023
Warrant [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	11,495,408
Warrant [Member] | Chanticleer Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	17,760
Exercise price, lower limit | $ / shares	$ 58.50
Exercise price, upper limit | $ / shares	$ 91
Warrant [Member] | Series B Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	42,373
Exercise price | $ / shares	$ 0.0001
Expiration date	Apr. 16, 2025
Warrant [Member] | Series C Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants, outstanding | shares	11,329,463
Exercise price | $ / shares	$ 3.19
Expiration date	Oct. 16, 2025
Warrant [Member] | Minimum [Member] | Chanticleer Warrants [Member]
Class of Warrant or Right [Line Items]
Expiration date	Apr. 30, 2027
Warrant [Member] | Maximum [Member] | Chanticleer Warrants [Member]
Class of Warrant or Right [Line Items]
Expiration date	Dec. 17, 2028

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - USD ($)	Feb. 05, 2021	Apr. 02, 2020	Aug. 31, 2019	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued			757,933
Shars issued to acquire assets					757,933
Proceeds from exercise of warrants					$ 2
Series B Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued					2,242,339
Warrants exercised					23,863
Proceeds from exercise of warrants					$ 2
Net share settled					2,242,427
Chanticleer Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price					$ 0.01
Number of shares issued					185,422
Number of purchase warrant					186,161
Investors [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, shares		1,699,232
Proceeds from issuance of common stock		$ 15,000,000
Investors [Member] | Series A Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant issued		3,300,066
Warrant exercise price		$ 5.3976
Investors [Member] | Series B Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant issued		2,247,726
Warrant exercise price		$ 0.0001
Advisor [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued		453,128
Legacy Chanticleer Shareholders [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant issued				206,371
Shares issued for merger				547,639
Warrant, weighted average exercise price							$ 26.60
Legacy Chanticleer Shareholders [Member] | Minimum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price							0.01
Legacy Chanticleer Shareholders [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price							$ 1,820
Promissory Notes [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, shares				186,075
Proceeds from issuance of common stock				$ 4,100,000
Warrant issued				93,038
Warrant exercise price				$ 29.32
Debt conversion of common stock shares				8,526
Debt conversion of common stock, value				$ 200,000
At The Market Sales Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, shares					7,454,238
Gross proceeds from sale agreement					$ 15,900,000
Proceeds from issuance of common stock	$ 15,875,000				$ 15,300,000
Shares issued upon vesting					127,880

Schedule of Share-based Compens

Schedule of Share-based Compensation Expense (Details) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 317,656	$ 1,057,766
Restricted Stock Units (RSUs) [Member] | Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	105,712	317,101
Restricted Stock Units (RSUs) [Member] | General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 211,944	$ 740,665

Schedule of Restricted Stock Un

Schedule of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Jun. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU Unvested beginning balance | shares	653,845
Weighted Average Grant Date Fair Value Unvested beginning balance | $ / shares	$ 3.63
RSU Granted | shares	47,000
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 2.38
RSU Vested | shares	(326,920)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 3.63
RSU Forfeited | shares	(10,657)
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	$ 3.63
RSU Unvested ending balance | shares	363,268
Weighted Average Grant Date Fair Value Unvested ending balance | $ / shares	$ 3.47

Share-Based Compensation (Detai

Share-Based Compensation (Details Narrative) - USD ($) $ in Millions	Jul. 02, 2020	Mar. 31, 2021	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense			$ 1.1
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			1 year
2020 Omnibus Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized			687,029
2020 Omnibus Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units and vesting rights, description	In July of 2020, 653,846 restricted stock units (“RSUs”) were granted, 50% of which vested on April 2, 2021 and the remaining 50% vest on April 2, 2022.	In March of 2021, an additional 47,000 RSUs were granted, 50% of which vest on March 25, 2022 and the remaining 50% vest on March 25, 2023.
Stock issued during the period, restricted stock units	653,846	47,000

Subsequent Event (Details Narra

Subsequent Event (Details Narrative) $ in Millions	1 Months Ended
	Jul. 22, 2021USD ($)
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from issuance of common stock	$ 34.5