Capricor Therapeutics (CAPR) 10-Q 14 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 10, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Entity Registrant Name	CAPRICOR THERAPEUTICS, INC.
Entity Central Index Key	1,133,869
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	CAPR
Entity Common Stock, Shares Outstanding		29,110,053

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 7,169,262	$ 6,140,135
Marketable securities	5,995,380	7,984,800
Restricted cash	619,427	742,002
Grant receivable	306,750	344,575
Prepaid expenses and other current assets	522,346	501,164
TOTAL CURRENT ASSETS	14,613,165	15,712,676
PROPERTY AND EQUIPMENT, net	535,241	372,096
OTHER ASSETS
Intangible assets, net of accumulated amortization of $177,453 and $166,634, respectively	82,229	93,048
Other assets	157,787	95,969
TOTAL ASSETS	15,388,422	16,273,789
CURRENT LIABILITIES
Accounts payable and accrued expenses	1,408,338	1,496,251
Accounts payable and accrued expenses, related party	69,561	174,424
TOTAL CURRENT LIABILITIES	1,477,899	1,670,675
LONG-TERM LIABILITIES
CIRM liability	3,376,259	3,376,259
TOTAL LONG-TERM LIABILITIES	3,376,259	3,376,259
TOTAL LIABILITIES	4,854,158	5,046,934
COMMITMENTS AND CONTINGENCIES (NOTE 7)
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.001 par value, 50,000,000 shares authorized, 27,970,879 and 26,270,491 shares issued and outstanding, respectively	27,971	26,271
Additional paid-in capital	65,705,313	62,736,783
Accumulated other comprehensive income	20,329	11,620
Accumulated deficit	(55,219,349)	(51,547,819)
TOTAL STOCKHOLDERS' EQUITY	10,534,264	11,226,855
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 15,388,422	$ 16,273,789

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Net of accumulated amortization (in dollars)	$ 177,453	$ 166,634
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
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 (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	27,970,879	26,270,491
Common stock, shares outstanding	27,970,879	26,270,491

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
INCOME
Collaboration income	$ 0	$ 683,594
Grant income	306,750	197,214
Other income	93,316	0
TOTAL INCOME	400,066	880,808
OPERATING EXPENSES
Research and development	2,696,517	3,257,149
General and administrative	1,389,732	1,189,238
TOTAL OPERATING EXPENSES	4,086,249	4,446,387
LOSS FROM OPERATIONS	(3,686,183)	(3,565,579)
OTHER INCOME (EXPENSE)
Investment income	14,653	4,282
Interest expense	0	(105,320)
TOTAL OTHER INCOME (EXPENSE)	14,653	(101,038)
NET LOSS	(3,671,530)	(3,666,617)
OTHER COMPREHENSIVE INCOME (LOSS)
Net unrealized gain on marketable securities	8,709	6,187
COMPREHENSIVE LOSS	$ (3,662,821)	$ (3,660,430)
Net loss per share, basic and diluted (in dollars per share)	$ (0.14)	$ (0.17)
Weighted average number of shares, basic and diluted (in shares)	26,905,331	21,399,019

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - 3 months ended Mar. 31, 2018 - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Other Comprehensive Income [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2017	$ 11,226,855	$ 26,271	$ 62,736,783	$ 11,620	$ (51,547,819)
Balance (in shares) at Dec. 31, 2017		26,270,491
Issuance of common stock, net of fees	2,373,478	$ 1,312	2,372,166	0	0
Issuance of common stock, net of fees (in shares)		1,311,833
Stock-based compensation	457,612	$ 12	457,600	0	0
Stock-based compensation (in shares)		12,500
Unrealized gain on marketable securities	8,709	$ 0	0	8,709	0
Stock options exercised	139,140	$ 376	138,764	0	0
Stock options exercised (in shares)		376,055
Net loss	(3,671,530)	$ 0	0	0	(3,671,530)
Balance at Mar. 31, 2018	$ 10,534,264	$ 27,971	$ 65,705,313	$ 20,329	$ (55,219,349)
Balance (in shares) at Mar. 31, 2018		27,970,879

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,671,530)	$ (3,666,617)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	34,060	38,772
Stock-based compensation	457,612	471,790
Change in assets - (increase) decrease:
Receivables	37,825	26,121
Prepaid expenses and other current assets	(21,182)	(55,283)
Other assets	(61,818)	0
Change in liabilities - increase (decrease):
Accounts payable and accrued expenses	(87,913)	(532,979)
Accounts payable and accrued expenses, related party	(104,863)	(379,421)
Accrued interest	0	105,320
Deferred revenue	0	(683,594)
NET CASH USED IN OPERATING ACTIVITIES	(3,417,809)	(4,675,891)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of marketable securities	(3,001,871)	(3,996,283)
Proceeds from sales and maturities of marketable securities	5,000,000	8,000,000
Purchases of property and equipment	(186,386)	(3,126)
NET CASH PROVIDED BY INVESTING ACTIVITIES	1,811,743	4,000,591
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from sale of common stock	2,373,478	0
Proceeds from stock options	139,140	0
NET CASH PROVIDED BY FINANCING ACTIVITIES	2,512,618	0
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	906,552	(675,300)
Cash, cash equivalents, and restricted cash balance at beginning of period	6,882,137	4,551,603
Cash, cash equivalents, and restricted cash balance at end of period	7,788,689	3,876,303
SUPPLEMENTAL DISCLOSURES:
Interest paid in cash	0	0
Income taxes paid in cash	$ 0	$ 0

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Capricor Therapeutics, Inc., a Delaware corporation (referred to herein as “Capricor Therapeutics” or the “Company”), is a clinical-stage biotechnology company focused on the discovery, development and commercialization of innovative cell and exosome based therapies for the treatment of diseases, with a focus on Duchenne muscular dystrophy (“DMD”), and other medical conditions. Capricor, Inc. (“Capricor”), a wholly-owned subsidiary of Capricor Therapeutics, was founded in 2005 as a Delaware corporation based on the innovative work of its founder, Eduardo Marbán, M.D., Ph.D. After completion of a merger between Capricor and a subsidiary of Nile Therapeutics, Inc., a Delaware corporation (“Nile”), on November 20, 2013, Capricor became a wholly-owned subsidiary of Nile and Nile formally changed its name to Capricor Therapeutics, Inc. Capricor Therapeutics, together with its subsidiary, Capricor, have four drug candidates, two of which are in various stages of active development. The accompanying unaudited interim condensed consolidated financial statements for Capricor Therapeutics and its wholly-owned subsidiary have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and with the instructions to Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP. In the Company’s opinion, all adjustments, consisting of normal and recurring adjustments, considered necessary for a fair presentation have been included. The accompanying financial information should be read in conjunction with the financial statements and the notes thereto in the Company’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (the “SEC”) on March 22, 2018, from which the December 31, 2017 consolidated balance sheet has been derived. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 Our condensed consolidated financial statements include the accounts of the Company and our wholly-owned subsidiary. All intercompany transactions have been eliminated in consolidation. The Company has historically financed its research and development activities as well as operational expenses from equity financings, government grants, a payment from Janssen Biotech, Inc. (“Janssen”) pursuant to a Collaboration Agreement with Janssen and a loan award and a grant from the California Institute for Regenerative Medicine (“CIRM”). Cash, cash equivalents and marketable securities as of March 31, 2018 were approximately $ 13.2 14.1 0.001 14.0 3,477,110 1.97 6.8 7.2 The Company has been awarded various grant and loan awards, which fund, in part, various pre-clinical and clinical activities (see Note 2 – “Loan Payable” and Note 6 – “Government Grant Awards”). As of March 31, 2018, the Company has up to approximately $ 4.9 The Company’s principal uses of cash are for research and development expenses, general and administrative expenses, capital expenditures and other working capital requirements. The Company’s future expenditures and capital requirements may be substantial and will depend on many factors, including, but not limited to, the following: ⋅ the timing and costs associated with its clinical trials and pre-clinical studies; ⋅ the timing and costs associated with the manufacturing of its product candidates; ⋅ the timing and costs associated with commercialization of its product candidates; ⋅ the number and scope of its research programs; and ⋅ the costs involved in prosecuting and enforcing patent claims and other intellectual property rights. The Company expects to seek additional financing primarily from, but not limited to, the sale and issuance of equity or debt securities, the licensing or sale of its technology and from government grants. The Company cannot provide assurances that financing will be available when and as needed or that, if available, financing will be available on favorable or acceptable terms or at all. If the Company is unable to obtain additional financing when and if required, it would have a material adverse effect on the Company’s business and results of operations. If necessary, Capricor is able to make certain operational adjustments to further reduce expenses by slowing down certain R&D efforts, decreasing headcount, and implementing further budget restrictions in order for the current cash/investments to last into the second quarter of 2019. To the extent the Company issues additional equity securities, its existing stockholders could experience substantial dilution. The preparation of 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 at the date of the condensed consolidated financial statements. Estimates also affect the reported amounts of revenues and expenses during the reporting period. The most sensitive estimates relate to the recoverability and fair value of intangible assets and the assumptions used to estimate stock-based compensation expense. Management uses its historical records and knowledge of its business in making these estimates. Accordingly, actual results may differ from these estimates. The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. March 31, March 31, 2018 2017 Cash and cash equivalents $ 7,169,262 $ 2,750,473 Restricted cash 619,427 1,125,830 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 7,788,689 $ 3,876,303 During the year ended December 31, 2017, the Company had two awards from CIRM designated for specific use, a Loan Agreement with CIRM (the “CIRM Loan Agreement”) entered into on February 5, 2013 (see Note 2 – “Loan Payable”) in connection with the ALLSTAR Phase II clinical trial and the CIRM Award (see Note 6 – “Government Grant Awards”) related to the HOPE Phase I/II clinical trial. Restricted cash represents funds received under these awards which are to be allocated to the research costs as incurred. In December 2017, the Company abandoned the CIRM funded project, and as a result approximately $ 15.7 0.6 0.7 The Company determines the appropriate classification of its marketable securities at the time of purchase and reevaluates such designation at each balance sheet date. All of the Company’s marketable securities are considered as available-for-sale and carried at estimated fair values. Realized gains and losses on the sale of debt and equity securities are determined using the specific identification method. Unrealized gains and losses on available-for-sale securities are excluded from net income and reported in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity. Property and equipment are stated at cost. Repairs and maintenance costs are expensed in the period incurred. Depreciation is computed using the straight-line method over the related estimated useful life of the asset, which such estimated useful lives range from five to seven years. Leasehold improvements are depreciated on a straight-line basis over the shorter of the useful life of the asset or the lease term. Depreciation was approximately $ 23,241 26,584 March 31, December 31, 2018 2017 Furniture and fixtures $ 46,709 $ 46,709 Laboratory equipment 806,380 619,994 Leasehold improvements 47,043 47,043 900,132 713,746 Less accumulated depreciation (364,891) (341,650) Property and equipment, net $ 535,241 $ 372,096 Amounts attributable to intellectual property consist primarily of the costs associated with the acquisition of certain technologies, patents, pending patents and related intangible assets with respect to research and development activities. Certain intellectual property assets are stated at cost and are amortized on a straight-line basis over the respective estimated useful lives of the assets ranging from five to fifteen years. Total amortization expense was approximately $ 10,819 12,187 Years ended Amortization Expense 2018 (9 months) $ 32,458 2019 43,276 2020 4,330 2021 2,165 The Company reviews goodwill and intangible assets at least annually for possible impairment. Goodwill and intangible assets are reviewed for possible impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. No impairment was recorded for the three months ended March 31, 2018 and 2017. Generally, government research grants that provide funding for research and development activities are recognized as income when the related expenses are incurred, as applicable. Because the terms of the CIRM Award granted in connection with the HOPE trial allow Capricor to elect to convert the grant into a loan at the end of the project period, the CIRM Award is being classified as a liability rather than income (see Note 6 - “Government Grant Awards”). Grant income is due upon submission of reimbursement request. The transaction price varies for grant income based on the expenses incurred under the awards. Revenue from nonrefundable, up-front license or technology access payments under license and collaborative arrangements that are not dependent on any future performance by the Company is recognized when such amounts are earned. If the Company has continuing obligations to perform under the arrangement, such fees are recognized over the estimated period of the continuing performance obligation. During 2017, the Company accounted for multiple element arrangements, such as license and development agreements in which a customer may purchase several deliverables, in accordance with FASB ASC Subtopic 605-25, Multiple Element Arrangements The Company determined that the deliverables under its Collaboration Agreement with Janssen (see Note 8 – “License Agreements”) did not meet the criteria to be considered separate accounting units for the purposes of revenue recognition. As a result, the Company recognized revenue from non-refundable, upfront fees ratably over the term of its performance under the agreement with Janssen. The upfront payments received, pending recognition as revenue, were recorded as deferred revenue and were classified as a short-term or long-term liability on the condensed consolidated balance sheets of the Company and amortized over the estimated period of performance. The Company periodically reviewed the estimated performance period of its contract based on the estimated progress of its project. As of June 30, 2017, the full amount of income has been recognized under the Janssen Agreement and the Janssen Agreement terminated. Revenue is recognized in connection with the delivery of doses which were developed as part of our past R&D efforts. Income is recorded when the Company has satisfied the obligations as identified in the contracts with the customer (see Note 9 – “Related Party Transactions”). Other income is due upon billing. Other income is based on contracts with fixed transaction prices. The Company accounted for the funds advanced under the CIRM Loan Agreement as a loan payable as the eventual repayment of the loan proceeds or forgiveness of the loan was contingent upon certain milestones being met and other conditions (see Note 2 – “Loan Payable”). On November 17, 2017, the Company gave notice to CIRM that it was electing to abandon the CIRM-funded project pursuant to the Loan Agreement and on December 11, 2017, Capricor and CIRM entered into Amendment No. 3 to the CIRM Notice of Loan Award whereby the total loan balance under the CIRM Loan Agreement has been forgiven by CIRM thereby terminating Capricor and the Company’s obligation to repay the loan balance. Rent expense for the Company’s leases, which generally have escalating rental amounts over the term of the lease, is recorded on a straight-line basis over the lease term. The difference between the rent expense and rent paid has been recorded as deferred rent in the condensed consolidated balance sheet under accounts payable and accrued expenses. Rent is amortized on a straight-line basis over the term of the applicable lease, without consideration of renewal options. Costs relating to the design and development of new products are expensed as research and development as incurred in accordance with FASB ASC 730-10, Research and Development 2.7 3.3 Comprehensive income (loss) generally represents all changes in stockholders’ equity during the period except those resulting from investments by, or distributions to, stockholders. The Company’s comprehensive loss was approximately $ 3.7 8,709 6,187 The Company accounts for stock-based employee compensation arrangements in accordance with guidance issued by the FASB, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees, consultants, and directors based on estimated fair values. The Company estimates the fair value of stock-based compensation awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods in the Company’s statements of operations. The Company estimates the fair value of stock-based compensation awards using the Black-Scholes model. This model requires the Company to estimate the expected volatility and value of its common stock and the expected term of the stock options, all of which are highly complex and subjective variables. The variables take into consideration, among other things, actual and projected stock option exercise behavior. For employees and directors, the expected life was calculated based on the simplified method as described by the SEC Staff Accounting Bulletin No. 110, Share-Based Payment. For other service providers, the expected life was calculated using the contractual term of the award. The Company's estimate of expected volatility was based on the historical stock price of the Company. The Company has selected a risk-free rate based on the implied yield available on U.S. Treasury securities with a maturity equivalent to the expected term of the options. The Company reports earnings per share in accordance with FSAB ASC 260-10, Earnings per Share. For the three months ended March 31, 2018 and 2017, warrants and options to purchase 8,077,236 8,261,999 Assets and liabilities recorded at fair value in the balance sheet are categorized based upon the level of judgment associated with the inputs used to measure their fair value. The categories are as follows: Level Input: Input Definition: Level I Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date. Level II Inputs, other than quoted prices included in Level I, that are observable for the asset or liability through corroboration with market data at the measurement date. Level III Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. March 31, 2018 Level I Level II Level III Total Marketable Securities $ 5,995,380 $ - $ - $ 5,995,380 December 31, 2017 Level I Level II Level III Total Marketable Securities $ 7,984,800 $ - $ - $ 7,984,800 Carrying amounts reported in the balance sheet of cash and cash equivalents, grants receivable, accounts payable and accrued expenses approximate fair value due to their relatively short maturity. The carrying amounts of the Company’s marketable securities are based on market quotations from national exchanges at the balance sheet date. Interest and dividend income are recognized separately on the income statement based on classifications provided by the brokerage firm holding the investments. The fair value of borrowings is not considered to be significantly different from its carrying amount because the stated rates for such debt reflect current market rates and conditions. In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Topic 606) In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Topic 915): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , Leases (Topic 840) In March 2016, the FASB issued ASU 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC, did not or are not believed by management to have a material impact on the Company’s present or future condensed consolidated financial statement presentation or disclosures. For a more detailed listing of the Company’s significant accounting policies, see Note 1 – “Organization and Summary of Significant Accounting Policies,” of the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the SEC on March 22, 2018.

LOAN PAYABLE

LOAN PAYABLE	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	LOAN PAYABLE On February 5, 2013, the Company entered into the CIRM Loan Agreement, pursuant to which CIRM agreed to disburse approximately $ 19.8 On November 17, 2017, the Company gave notice to CIRM that it was electing to abandon the CIRM-funded project pursuant to the Loan Agreement and on December 11, 2017, Capricor and CIRM entered into Amendment No. 3 to the CIRM Notice of Loan Award whereby the total loan balance consisting of principal and accrued interest under the CIRM Loan Agreement has been forgiven by CIRM thereby terminating Capricor and the Company’s obligation to repay the loan balance. The Company has classified the forgiveness of the loan payable consisting of principal and accrued interest of approximately $ 15.7 For the three months ended March 31, 2018 and 2017, interest expense under the CIRM loan was zero and approximately $ 105,320

STOCKHOLDER'S EQUITY

STOCKHOLDER'S EQUITY	3 Months Ended
	Mar. 31, 2018
Stockholders Equity Note [Abstract]
Stockholders Equity Note Disclosure [Text Block]	3. STOCKHOLDER’S EQUITY March 2017 Common Stock Sales Agreement On March 31, 2017, the Company entered into a Sales Agreement with Wainwright, under which the Company from time to time, issued and sold shares of its common stock through Wainwright as sales agent in an at-the-market offering under a prospectus supplement for aggregate sales proceeds of $ 5.0 2,589,078 1.93 5.0 3.0 0.2 May 2017 Financing On May 5, 2017, the Company entered into Subscription Agreements with certain accredited investors (the “Investors”), pursuant to which the Company agreed to issue and sell to the investors, in a private placement (the “Private Placement”), an aggregate of 1,196,291 0.001 3.10 3.7 In connection with the Private Placement, the Company also entered into a Registration Rights Agreement with the Investors. Pursuant to the terms of the Registration Rights Agreement, the Company was obligated (i) to prepare and file with the SEC a registration statement to register for resale the shares issued in the Private Placement, and (ii) to use its reasonable best efforts to cause the registration statement to be declared effective by the SEC as soon as practicable, in each case subject to certain deadlines. The Company will be required to pay to each Investor liquidated damages equal to 1.0% of the aggregate purchase price paid by such Investor pursuant to the Subscription Agreements for the shares per month (up to a cap of 10.0%) if it does not meet certain obligations with respect to the registration of the shares, subject to certain conditions. Pursuant to its obligations under the Registration Rights Agreement, the Company registered for resale the shares issued in the Private Placement pursuant to a registration statement on Form S-3 (File No. 333-219188), which was filed with the SEC on July 7, 2017 and declared effective on July 17, 2017. October 2017 Common Stock Sales Agreement On October 19, 2017, the Company entered into the October Sales Agreement with Wainwright, establishing the October 2017 ATM Program. The common stock sold in the October 2017 ATM Program will be distributed at the market prices prevailing at the time of sale. The October Sales Agreement provides that Wainwright will be entitled to compensation for its services at a commission rate of 3.0% of the gross sales price per share of common stock sold plus reimbursement of certain expenses. In the first quarter of 2018, the Company sold an aggregate of 1,311,833 1.88 2.4 2,337,936 2.22 5.2 3.0 0.2 Outstanding Shares At March 31, 2018, the Company had 27,970,879

STOCK AWARDS, WARRANTS AND OPTI

STOCK AWARDS, WARRANTS AND OPTIONS	3 Months Ended
	Mar. 31, 2018
Stock Awards, Warrants and Options [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	4. STOCK AWARDS, WARRANTS AND OPTIONS Warrants Warrants Weighted Average Outstanding at January 1, 2018 1,081,716 $ 4.01 Granted - - Exercised - - Expired - - Outstanding at March 31, 2018 1,081,716 $ 4.01 Warrants Outstanding Grant Date March 31, 2018 December 31, 2017 Exercise Price Expiration 11/20/2013 235,643 235,643 $ 2.27 11/20/2018 3/16/2016 846,073 846,073 $ 4.50 3/16/2019 1,081,716 1,081,716 Restricted Stock In December 2017, the Company entered into an agreement pursuant to which the Company agreed to grant 12,500 12,500 22,750 Stock Options The Company’s Board of Directors (the “Board”) has approved three stock option plans: (i) the 2006 Stock Option Plan, (ii) the 2012 Restated Equity Incentive Plan (which superseded the 2006 Stock Option Plan) (the “2012 Plan”), and (iii) the 2012 Non-Employee Director Stock Option Plan (the “2012 Non-Employee Director Plan”). At the time the merger between Capricor and Nile became effective, 4,149,710 100,000 On June 2, 2016 at the Company’s annual stockholder meeting, the stockholders approved a proposal to amend the 2012 Plan, to, among other things, increase the number of shares of common stock of the Company that may be issued under the 2012 Plan to equal the sum of 4,149,710 2 2 4,149,710 4,474,809 325,099 525,409 427,980 At the time the merger between Capricor and Nile became effective, 2,697,311 Each of the Company’s stock option plans are administered by the Board, or a committee appointed by the Board, which determines the recipients and types of awards to be granted, as well as the number of shares subject to the awards, the exercise price and the vesting schedule. Currently, stock options are granted with an exercise price equal to the closing price of the Company’s common stock on the date of grant, and generally vest over a period of one to four years. The term of stock options granted under each of the plans cannot exceed ten years. The estimated weighted average fair value of the options granted during the three months ended March 31, 2018 and 2017 were approximately $ 1.45 1.86 March 31, 2018 March 31, 2017 Expected volatility 142% - 145% 78% - 81% Expected term 5-6 years 5-7 years Dividend yield 0% 0% Risk-free interest rates 2.3% 2.2% - 2.3% Three months ended March 31, 2018 2017 General and administrative $ 304,388 $ 301,222 Research and development 130,475 170,568 Total $ 434,863 $ 471,790 The Company does not recognize an income tax benefit as the Company believes that an actual income tax benefit may not be realized. For non-qualified stock options, the loss creates a timing difference, resulting in a deferred tax asset, which is fully reserved by a valuation allowance. Common stock, stock options or other equity instruments issued to non-employees (including consultants) as consideration for goods or services received by the Company are accounted for based on the fair value of the equity instruments issued (unless the fair value of the consideration received can be more reliably measured). The fair value of stock options is determined using the Black-Scholes option-pricing model and is periodically re-measured as the underlying options vest. The fair value of any options issued to non-employees is recorded as an expense over the applicable vesting periods. We account for estimated forfeitures at the date of grant. Number of Weighted Average Aggregate Outstanding at January 1, 2018 6,873,903 $ 1.62 $ - Granted 602,678 1.57 Exercised (376,055) 0.37 Expired/Cancelled (105,006) 2.35 Outstanding at March 31, 2018 6,995,520 $ 1.68 $ - Exercisable at March 31, 2018 5,630,185 $ 1.42 $ - The aggregate intrinsic value represents the difference between the exercise price of the options and the estimated fair value of the Company’s common stock for each of the respective periods. The aggregate intrinsic value of options exercised was $ 521,678

CONCENTRATIONS

CONCENTRATIONS	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	5. CONCENTRATIONS Cash Concentration The Company has historically maintained checking accounts at two financial institutions. These accounts are each insured by the Federal Deposit Insurance Corporation for up to $ 250,000 13.4

GOVERNMENT GRANT AWARDS

GOVERNMENT GRANT AWARDS	3 Months Ended
	Mar. 31, 2018
Award [Abstract]
Government Grant Awards Disclosure [Text Block]	6. GOVERNMENT GRANT AWARDS CIRM Grant Award (HOPE) On June 16, 2016, Capricor entered into the CIRM Award with CIRM in the amount of approximately $ 3.4 2.3 After completing the CIRM funded research project and after the award period end date, estimated to be in 2018, Capricor has the right to convert the CIRM Award into a loan, the terms of which will be determined based on various factors, including the stage of the research and development of the program at the time the election is made. On June 20, 2016, Capricor entered into a Loan Election Agreement with CIRM whereby, among other things, CIRM and Capricor agreed that if Capricor elects to convert the grant into a loan, the term of the loan would be five years from the date of execution of the applicable loan agreement; provided that the term of the loan will not exceed ten years from the date on which the CIRM Award was granted. Beginning on the date of the loan, the loan shall bear interest on the unpaid principal balance, plus the interest that has accrued prior to the election point according to the terms set forth in CIRM’s Loan Policy (the “New Loan Balance”), at a per annum rate equal to the LIBOR rate for a three-month deposit in U.S. dollars, as published by the Wall Street Journal on the loan date, plus one percent. Interest shall be compounded annually on the outstanding New Loan Balance commencing with the loan date and the interest shall be payable, together with the New Loan Balance, upon the due date of the loan. If Capricor elects to convert the CIRM Award into a loan, certain requirements of the CIRM Award will no longer be applicable, including the revenue sharing requirements. Capricor has not yet made its decision as to whether it will elect to convert the CIRM Award into a loan. Since Capricor may be required to repay some or all of the amounts awarded by CIRM, the Company accounts for this award as a liability rather than income. In 2016, Capricor received $ 3.1 0.3 3.4 0.6 On August 8, 2017, we entered into an Amendment to the CIRM Notice of Award pursuant to which CIRM approved the Company’s request to use the remaining estimated project funds of the CIRM Award for technology transfer activities in support of the manufacture of CAP-1002 to a designated contract manufacturing organization, or CMO, which will enable Capricor to offer access to CAP-1002 to patients from the control arm of the HOPE-Duchenne trial via an open-label extension protocol. NIH Grant Award (HLHS) In September 2016, Capricor was approved for a grant from the NIH to study CAP-2003 (cardiosphere-derived cell exosomes) for hypoplastic left heart syndrome (HLHS). Under the terms of the NIH grant, disbursements will be made to Capricor in an amount up to approximately $ 4.2 0.6 U.S. Department of Defense Grant Award In September 2016, Capricor was approved for a grant award from the Department of Defense in the amount of approximately $ 2.4 1.1

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	7. COMMITMENTS AND CONTINGENCIES Leases Capricor leases space for its corporate offices pursuant to a lease that was originally effective for a two-year period beginning July 1, 2013 with an option to extend the lease for an additional twelve months. On May 25, 2016, Capricor entered into a Third Amendment to Lease (the “Third Lease Amendment”) with The Bubble Real Estate Company, LLC. Under the terms of the Third Lease Amendment, the lease term extension commenced on July 1, 2016 and will end on December 31, 2018. Commencing July 1, 2016, the base rent increased to $ 22,995 23,915 24,872 The Facilities Lease which Capricor entered into with CSMC is for a term of three years commencing June 1, 2014 and replaced the month-to-month lease that was previously in effect between CSMC and Capricor. The monthly lease payment under the Facilities Lease was approximately $ 15,461 19,350 19,350 19,756 In addition, the Company entered into a month-to-month lease agreement with University Center Lane Tenant, LLC for office space located in San Diego, California. The lease commenced March 1, 2018 and the rental payment is currently $ 4,190 Unless renewed, each of the leases described above will not be in effect for fiscal year 2019. Included within the table below, future minimum rental payments to related parties totaled approximately $ 79,024 Years ended Operating Leases 2018 (9 months) $ 300,001 Expenses incurred under operating leases to unrelated parties for the three months ended March 31, 2018 and 2017 were approximately $ 77,264 71,215 59,268 56,105 Legal Proceedings The Company is not a party to any material legal proceedings at this time. From time to time, the Company may become involved in various legal proceedings that arise in the ordinary course of its business or otherwise.

LICENSE AGREEMENTS

LICENSE AGREEMENTS	3 Months Ended
	Mar. 31, 2018
License Agreements [Abstract]
License Agreements [Text Block]	8. LICENSE AGREEMENTS Capricor’s Technology - CAP-1002, CAP-1001, CSps and Exosomes Capricor has entered into exclusive license agreements for intellectual property rights related to certain cardiac-derived cells with Università Degli Studi Di Roma La Sapienza (the “University of Rome”), The Johns Hopkins University (“JHU”) and CSMC. In addition, Capricor has filed patent applications related to the technology developed by its own scientists. University of Rome License Agreement Capricor and the University of Rome entered into a License Agreement, dated June 21, 2006, or the Rome License Agreement, which provides for the grant of an exclusive, world-wide, royalty-bearing license by the University of Rome to Capricor (with the right to sublicense) to develop and commercialize licensed products under the licensed patent rights in all fields. Capricor has a right of first negotiation, for a certain period of time, to obtain a license to any new and separate patent applications owned by the University of Rome utilizing cardiac stem cells in cardiac care. Pursuant to the Rome License Agreement, Capricor paid the University of Rome a license issue fee, is currently paying minimum annual royalties in the amount of 20,000 The Rome License Agreement will, unless extended or sooner terminated, remain in effect until the later of the last claim of any patent or until any patent application comprising licensed patent rights has expired or been abandoned. Under the terms of the Rome License Agreement, either party may terminate the agreement should the other party become insolvent or file a petition in bankruptcy. Either party may terminate the agreement upon the other party’s material breach, provided that the breaching party will have up to 90 days to cure its material breach. Capricor may also terminate for any reason upon 90 days’ written notice to the University of Rome. The Johns Hopkins University License Agreement Capricor and JHU entered into an Exclusive License Agreement, effective June 22, 2006, or the JHU License Agreement, which provides for the grant of an exclusive, world-wide, royalty-bearing license by JHU to Capricor (with the right to sublicense) to develop and commercialize licensed products and licensed services under the licensed patent rights in all fields and a nonexclusive right to the know-how. In May 2009, the JHU License Agreement was amended to add additional patent rights to the JHU License Agreement in consideration of a payment to JHU and reimbursement of patent costs. Capricor and JHU executed a Second Amendment to the JHU License Agreement, effective as of December 20, 2013, pursuant to which, among other things, certain definitions were added or amended, the timing of certain obligations was revised and other obligations of the parties were clarified. Under the JHU License Agreement, Capricor is required to exercise commercially reasonable and diligent efforts to develop and commercialize licensed products covered by the licenses from JHU. Pursuant to the JHU License Agreement, JHU was paid an initial license fee and, thereafter, Capricor is required to pay minimum annual royalties on the anniversary dates of the JHU License Agreement. The minimum annual royalties range from $ 5,000 20,000 100,000 1,000,000 1,850,000 The JHU License Agreement will, unless sooner terminated, continue in effect in each applicable country until the date of expiration of the last to expire patent within the patent rights, or, if no patents are issued, then for twenty years from the effective date. Under the terms of the JHU License Agreement, either party may terminate the agreement should the other party become insolvent or file a petition in bankruptcy, or fail to cure a material breach within 30 days after notice. In addition, Capricor may terminate for any reason upon 60 days’ written notice. Cedars-Sinai Medical Center License Agreements License Agreement for CDCs On January 4, 2010, Capricor entered into an Exclusive License Agreement with CSMC, or the Original CSMC License Agreement, for certain intellectual property related to its CDC technology. In 2013, the Original CSMC License Agreement was amended twice resulting in, among other things, a reduction in the percentage of sublicense fees which would have been payable to CSMC. Effective December 30, 2013, Capricor entered into an Amended and Restated Exclusive License Agreement with CSMC, or the Amended CSMC License Agreement, which amended, restated, and superseded the Original CSMC License Agreement, pursuant to which, among other things, certain definitions were added or amended, the timing of certain obligations was revised and other obligations of the parties were clarified. The Amended CSMC License Agreement provides for the grant of an exclusive, world-wide, royalty-bearing license by CSMC to Capricor (with the right to sublicense) to conduct research using the patent rights and know-how and develop and commercialize products in the field using the patent rights and know-how. In addition, Capricor has the exclusive right to negotiate for an exclusive license to any future rights arising from related work conducted by or under the direction of Dr. Eduardo Marbán on behalf of CSMC. In the event the parties fail to agree upon the terms of an exclusive license for any future rights, Capricor will have a non-exclusive license to such future rights, subject to royalty obligations. Pursuant to the Original CSMC License Agreement, CSMC was paid a license fee and Capricor was obligated to reimburse CSMC for certain fees and costs incurred in connection with the prosecution of certain patent rights. Additionally, Capricor is required to meet certain spending and development milestones. The annual spending requirements ranged from $ 350,000 800,000 Pursuant to the Amended CSMC License Agreement, Capricor remains obligated to pay low single-digit royalties on sales of royalty-bearing products as well as a low double-digit percentage of the consideration received from any sublicenses or other grant of rights. The above-mentioned royalties are subject to reduction in the event Capricor becomes obligated to obtain a license from a third party for patent rights in connection with the royalty-bearing product. In 2010, Capricor discontinued its research under some of the patents. The Amended CSMC License Agreement will, unless sooner terminated, continue in effect on a country by country basis until the last to expire of the patents covering the patent rights or future patent rights. Under the terms of the Amended CSMC License Agreement, unless waived by CSMC, the agreement shall automatically terminate: (i) if Capricor ceases, dissolves or winds up its business operations; (ii) in the event of the insolvency or bankruptcy of Capricor or if Capricor makes an assignment for the benefit of its creditors; (iii) if performance by either party jeopardizes the licensure, accreditation or tax exempt status of CSMC or the agreement is deemed illegal by a governmental body; (iv) within 30 days for non-payment of royalties; (v) after 90 days’ notice from CSMC if Capricor fails to undertake commercially reasonable efforts to exploit the patent rights or future patent rights; (vi) if a material breach has not been cured within 90 days; or (vii) if Capricor challenges any of the CSMC patent rights. If Capricor fails to undertake commercially reasonable efforts to exploit the patent rights or future patent rights, and fails to cure that breach after 90 days’ notice from CSMC, instead of terminating the license, CSMC has the option to convert any exclusive license to Capricor to a non-exclusive or co-exclusive license. Capricor may terminate the agreement if CSMC fails to cure any material breach within 90 days after notice. On March 20, 2015, Capricor and CSMC entered into a First Amendment to the Amended CSMC License Agreement, pursuant to which the parties agreed to delete certain patent applications from the list of scheduled patents which Capricor determined not to be material to the portfolio. On August 5, 2016, Capricor and CSMC entered into a Second Amendment to the Amended CSMC License Agreement, or the Second License Amendment, pursuant to which the parties agreed to add certain patent applications to the schedule of patent rights set forth in the agreement. Under the Second License Amendment, (i) the description of scheduled patent rights has been replaced by a revised schedule that includes six additional patent applications; (ii) Capricor paid an upfront fee of $ 2,500 10,000 On December 26, 2017, Capricor entered into a Third Amendment to Exclusive License Agreement with CSMC thereby amending the CDCs License, or the Third License Amendment. Under the Third License Amendment, (i) the description of scheduled patent rights has been replaced by a revised schedule that includes seven additional patent applications; and (ii) Capricor is required to reimburse CSMC approximately $ 50,000 License Agreement for Exosomes On May 5, 2014, Capricor entered into an Exclusive License Agreement with CSMC, or the Exosomes License Agreement, for certain intellectual property rights related to exosomes technology. The Exosomes License Agreement provides for the grant of an exclusive, world-wide, royalty-bearing license by CSMC to Capricor (with the right to sublicense) in order to conduct research using the patent rights and know-how and to develop and commercialize products in the field using the patent rights and know-how. In addition, Capricor has the exclusive right to negotiate for an exclusive license to any future rights arising from related work conducted by or under the direction of Dr. Eduardo Marbán on behalf of CSMC. In the event the parties fail to agree upon the terms of an exclusive license, Capricor shall have a non-exclusive license to such future rights, subject to royalty obligations. Pursuant to the Exosomes License Agreement, CSMC was paid a license fee and Capricor reimbursed CSMC for certain fees and costs incurred in connection with the preparation and prosecution of certain patent applications. Additionally, Capricor is required to meet certain non-monetary development milestones and is obligated to pay low single-digit royalties on sales of royalty-bearing products as well as a single-digit percentage of the consideration received from any sublicenses or other grant of rights. The above-mentioned royalties are subject to reduction in the event Capricor becomes obligated to obtain a license from a third party for patent rights in connection with the royalty bearing product. The Exosomes License Agreement will, unless sooner terminated, continue in effect on a country by country basis until the last to expire of the patents covering the patent rights or future patent rights. Under the terms of the Exosomes License Agreement, unless waived by CSMC, the agreement shall automatically terminate: (i) if Capricor ceases, dissolves or winds up its business operations; (ii) in the event of the insolvency or bankruptcy of Capricor or if Capricor makes an assignment for the benefit of its creditors; (iii) if performance by either party jeopardizes the licensure, accreditation or tax exempt status of CSMC or the agreement is deemed illegal by a governmental body; (iv) within 30 days for non-payment of royalties; (v) after 90 days if Capricor fails to undertake commercially reasonable efforts to exploit the patent rights or future patent rights; (vi) if a material breach has not been cured within 90 days; or (vii) if Capricor challenges any of the CSMC patent rights. If Capricor fails to undertake commercially reasonable efforts to exploit the patent rights or future patent rights, and fails to cure that breach after 90 days’ notice from CSMC, instead of terminating the license, CSMC has the option to convert any exclusive license to Capricor to a non-exclusive or co-exclusive license. Capricor may terminate the agreement if CSMC fails to cure any material breach within 90 days after notice. On February 27, 2015, Capricor and CSMC entered into a First Amendment to Exosomes License Agreement, or the First Exosomes License Amendment. Under the First Exosomes License Amendment, (i) the description of scheduled patent rights has been replaced by a revised schedule that includes four additional patent applications; (ii) Capricor was required to pay CSMC an upfront fee of $ 20,000 34,000 15,000 75,000 190,000 On June 10, 2015, Capricor and CSMC entered into a Second Amendment to Exosomes License Agreement, thereby amending the Exosomes License Agreement further to add an additional patent application to the Schedule of Patent Rights. On August 5, 2016, Capricor and CSMC entered into a Third Amendment to the Exosomes License Agreement, or the Third Exosomes License Amendment, pursuant to which the parties agreed to add certain patent applications to the schedule of patent rights under the agreement. Under the Third Exosomes License Amendment, (i) the description of scheduled patent rights has been replaced by a revised schedule that includes three additional patent applications; (ii) Capricor paid CSMC an upfront fee of $ 2,500 16,000 On December 26, 2017, Capricor and CSMC entered into a Fourth Amendment to Exclusive License Agreement, thereby amending the Exosomes License, or the Fourth Exosomes License Amendment. Under the Fourth Exosomes License Amendment, (i) the description of scheduled patent rights was replaced by a revised schedule that includes seven additional patent applications; (ii) Capricor is required to reimburse CSMC approximately $50,000 for attorneys’ fees and filing fees that were incurred in connection with the additional patent rights; and (iii) a schedule to the Exosomes License was modified to extend the milestone deadline for filing an IND for at least one product to December 31, 2018. Collaboration Agreement with Janssen Biotech, Inc. On December 27, 2013, Capricor entered into a Collaboration Agreement and Exclusive License Option, or the Janssen Agreement, with Janssen, a wholly-owned subsidiary of Johnson & Johnson. Under the terms of the Janssen Agreement, Capricor and Janssen agreed to collaborate on the development of Capricor’s cell therapy program for cardiovascular applications, including its lead product candidate, CAP-1002. Capricor and Janssen further agreed to collaborate on the development of cell manufacturing in preparation for future clinical trials. Under the Janssen Agreement, Capricor was paid $ 12.5 On June 30, 2017, Capricor was informed by Janssen that Janssen would not be exercising its exclusive option right to exploit CAP-1002 as well as certain CSps and CDCs in the field of cardiology. Capricor will retain full rights to CAP-1002 in all indications as a result of this decision. Capricor will also have an irrevocable, fully paid-up non-exclusive license under patents controlled by Janssen utilized in the production of the clinical trial materials manufactured pursuant to the CMC development plan between Capricor and Janssen and a non-exclusive perpetual license to publish, disclose and use the information of Janssen that was utilized in the production of the clinical trial materials manufactured pursuant to the CMC development plan. Company’s Technology - Cenderitide and CU-NP The Company entered into an exclusive license agreement for intellectual property rights related to natriuretic peptides with the Mayo Foundation for Medical Education and Research, or Mayo, a Clinical Trial Funding Agreement with Medtronic, Inc., or Medtronic, and a Transfer Agreement with Medtronic, all of which also include certain intellectual property licensing provisions. In February 2017, we elected to terminate our former natriuretic peptide development program, consisting of Cenderitide (CD-NP) and CU-NP, so as to more efficiently focus our resources and efforts on our CAP-1002 and CAP-2003 programs. Medtronic Clinical Trial Funding Agreement In February 2011, the Company entered into a Clinical Trial Funding Agreement with Medtronic, related to the Company’s now discontinued Cenderitide program. Pursuant to its terms, the agreement expired in February 2012. Although the Medtronic agreement expired, there are certain provisions that survive the expiration of the agreement, including the obligation to pay royalties on products that might be covered by the agreement. The Company and Medtronic subsequently entered into a Transfer Agreement, described below. Medtronic Transfer Agreement On October 8, 2014, the Company entered into a Transfer Agreement, or the Transfer Agreement, with Medtronic to acquire patent rights relating to the Company’s now discontinued natriuretic peptides program. Pursuant to the Transfer Agreement, Medtronic assigned to the Company all of its right, title and interest in all natriuretic peptide patents and patent applications previously owned by Medtronic or co-owned by Medtronic and the Company, or the Natriuretic Peptide Patents. In light of the Company’s decision to terminate its development program with respect to natriuretic peptides, the Company elected to cease prosecution of all of the Natriuretic Peptide Patents and has offered to reassign to Medtronic rights to certain patent applications obtained through the Transfer Agreement. Medtronic elected not to take a reassignment of the patent rights.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	9. RELATED PARTY TRANSACTIONS Lease and Sub-Lease Agreement As noted above, Capricor is a party to lease agreements with CSMC, which holds more than 10% of the outstanding capital stock of Capricor Therapeutics (see Note 7 – “Commitments and Contingencies”), and CSMC has served as an investigative site in Capricor’s clinical trials. Additionally, Dr. Eduardo Marbán, who holds more than 10% of the outstanding capital stock of Capricor Therapeutics and participates as an observer at the Company’s meetings of the Board of Directors, is the Director of the Cedars-Sinai Smidt Heart Institute, a co-founder of Capricor and the Chairman of the Company’s Scientific Advisory Board. On April 1, 2013, Capricor entered into a sublease with Reprise Technologies, LLC, a limited liability company which is wholly owned by Dr. Frank Litvack, the Company’s Executive Chairman and member of its Board of Directors, for $ 2,500 7,500 Consulting Agreements Effective January 1, 2013, Frank Litvack, the Company’s Executive Chairman and a member of its Board of Directors, entered into an oral Consulting Agreement with Capricor whereby Capricor agreed to pay Dr. Litvack fees of $ 10,000 10,000 1,500 Payables to Related Party At March 31, 2018 and December 31, 2017, the Company had accounts payable and accrued expenses to related parties totaling $ 69,561 174,424 54,582 160,566 200,000 500,000 Related Party Clinical Trials Capricor has agreed to provide cells for investigational purposes in two clinical trials sponsored by CSMC. These cells were developed as part of the Company’s past research and development efforts. The first trial is known as “Regression of Fibrosis and Reversal of Diastolic Dysfunction in HFpEF Patients Treated with Allogeneic CDCs.” Dr. Eduardo Marbán is the named principal investigator under the study. The second trial is known as “Pulmonary Arterial Hypertension treated with Cardiosphere-derived Allogeneic Stem Cells.” In both studies, Capricor will provide the necessary number of doses of cells and will receive a negotiated amount of monetary compensation which is estimated to be approximately $ 2.1 93,000 93,000 122,500

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events [Text Block]	10. SUBSEQUENT EVENTS October 2017 Common Stock Sales Agreement Subsequent to March 31, 2018 and through May 10, 2018, the Company has sold an aggregate of 1,139,174 1.46 1.7 3.0 52,000 Related Party Agreement Subsequent to March 31, 2018, Capricor and TrialTech Medical, Inc., a corporation in which Dr. Frank Litvack, our Executive Chairman and a director, is a co-founder, shareholder and chairman, entered into an agreement whereby TrialTech Medical, Inc. will provide clinical trial services to Capricor for its HOPE-2 clinical trial. The estimated costs to us are anticipated to be approximately $ 250,000

ORGANIZATION AND SUMMARY OF S17

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Description Of Business [Policy Text Block]	Capricor Therapeutics, Inc., a Delaware corporation (referred to herein as “Capricor Therapeutics” or the “Company”), is a clinical-stage biotechnology company focused on the discovery, development and commercialization of innovative cell and exosome based therapies for the treatment of diseases, with a focus on Duchenne muscular dystrophy (“DMD”), and other medical conditions. Capricor, Inc. (“Capricor”), a wholly-owned subsidiary of Capricor Therapeutics, was founded in 2005 as a Delaware corporation based on the innovative work of its founder, Eduardo Marbán, M.D., Ph.D. After completion of a merger between Capricor and a subsidiary of Nile Therapeutics, Inc., a Delaware corporation (“Nile”), on November 20, 2013, Capricor became a wholly-owned subsidiary of Nile and Nile formally changed its name to Capricor Therapeutics, Inc. Capricor Therapeutics, together with its subsidiary, Capricor, have four drug candidates, two of which are in various stages of active development.
Basis of Presentation and Significant Accounting Policies [Policy Text Block]	The accompanying unaudited interim condensed consolidated financial statements for Capricor Therapeutics and its wholly-owned subsidiary have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and with the instructions to Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP. In the Company’s opinion, all adjustments, consisting of normal and recurring adjustments, considered necessary for a fair presentation have been included. The accompanying financial information should be read in conjunction with the financial statements and the notes thereto in the Company’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (the “SEC”) on March 22, 2018, from which the December 31, 2017 consolidated balance sheet has been derived. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2018
Consolidation, Policy [Policy Text Block]	Basis of Consolidation Our condensed consolidated financial statements include the accounts of the Company and our wholly-owned subsidiary. All intercompany transactions have been eliminated in consolidation.
Liquidity [Policy Text Block]	The Company has historically financed its research and development activities as well as operational expenses from equity financings, government grants, a payment from Janssen Biotech, Inc. (“Janssen”) pursuant to a Collaboration Agreement with Janssen and a loan award and a grant from the California Institute for Regenerative Medicine (“CIRM”). Cash, cash equivalents and marketable securities as of March 31, 2018 were approximately $ 13.2 14.1 0.001 14.0 3,477,110 1.97 6.8 7.2 The Company has been awarded various grant and loan awards, which fund, in part, various pre-clinical and clinical activities (see Note 2 – “Loan Payable” and Note 6 – “Government Grant Awards”). As of March 31, 2018, the Company has up to approximately $ 4.9 The Company’s principal uses of cash are for research and development expenses, general and administrative expenses, capital expenditures and other working capital requirements. The Company’s future expenditures and capital requirements may be substantial and will depend on many factors, including, but not limited to, the following: ⋅ the timing and costs associated with its clinical trials and pre-clinical studies; ⋅ the timing and costs associated with the manufacturing of its product candidates; ⋅ the timing and costs associated with commercialization of its product candidates; ⋅ the number and scope of its research programs; and ⋅ the costs involved in prosecuting and enforcing patent claims and other intellectual property rights. The Company expects to seek additional financing primarily from, but not limited to, the sale and issuance of equity or debt securities, the licensing or sale of its technology and from government grants. The Company cannot provide assurances that financing will be available when and as needed or that, if available, financing will be available on favorable or acceptable terms or at all. If the Company is unable to obtain additional financing when and if required, it would have a material adverse effect on the Company’s business and results of operations. If necessary, Capricor is able to make certain operational adjustments to further reduce expenses by slowing down certain R&D efforts, decreasing headcount, and implementing further budget restrictions in order for the current cash/investments to last into the second quarter of 2019. To the extent the Company issues additional equity securities, its existing stockholders could experience substantial dilution.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of 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 at the date of the condensed consolidated financial statements. Estimates also affect the reported amounts of revenues and expenses during the reporting period. The most sensitive estimates relate to the recoverability and fair value of intangible assets and the assumptions used to estimate stock-based compensation expense. Management uses its historical records and knowledge of its business in making these estimates. Accordingly, actual results may differ from these estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. March 31, March 31, 2018 2017 Cash and cash equivalents $ 7,169,262 $ 2,750,473 Restricted cash 619,427 1,125,830 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 7,788,689 $ 3,876,303 During the year ended December 31, 2017, the Company had two awards from CIRM designated for specific use, a Loan Agreement with CIRM (the “CIRM Loan Agreement”) entered into on February 5, 2013 (see Note 2 – “Loan Payable”) in connection with the ALLSTAR Phase II clinical trial and the CIRM Award (see Note 6 – “Government Grant Awards”) related to the HOPE Phase I/II clinical trial. Restricted cash represents funds received under these awards which are to be allocated to the research costs as incurred. In December 2017, the Company abandoned the CIRM funded project, and as a result approximately $ 15.7 0.6 0.7
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block]	Marketable Securities The Company determines the appropriate classification of its marketable securities at the time of purchase and reevaluates such designation at each balance sheet date. All of the Company’s marketable securities are considered as available-for-sale and carried at estimated fair values. Realized gains and losses on the sale of debt and equity securities are determined using the specific identification method. Unrealized gains and losses on available-for-sale securities are excluded from net income and reported in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost. Repairs and maintenance costs are expensed in the period incurred. Depreciation is computed using the straight-line method over the related estimated useful life of the asset, which such estimated useful lives range from five to seven years. Leasehold improvements are depreciated on a straight-line basis over the shorter of the useful life of the asset or the lease term. Depreciation was approximately $ 23,241 26,584 March 31, December 31, 2018 2017 Furniture and fixtures $ 46,709 $ 46,709 Laboratory equipment 806,380 619,994 Leasehold improvements 47,043 47,043 900,132 713,746 Less accumulated depreciation (364,891) (341,650) Property and equipment, net $ 535,241 $ 372,096
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Amounts attributable to intellectual property consist primarily of the costs associated with the acquisition of certain technologies, patents, pending patents and related intangible assets with respect to research and development activities. Certain intellectual property assets are stated at cost and are amortized on a straight-line basis over the respective estimated useful lives of the assets ranging from five to fifteen years. Total amortization expense was approximately $ 10,819 12,187 Years ended Amortization Expense 2018 (9 months) $ 32,458 2019 43,276 2020 4,330 2021 2,165 The Company reviews goodwill and intangible assets at least annually for possible impairment. Goodwill and intangible assets are reviewed for possible impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. No impairment was recorded for the three months ended March 31, 2018 and 2017.
Revenue Recognition, Policy [Policy Text Block]	Generally, government research grants that provide funding for research and development activities are recognized as income when the related expenses are incurred, as applicable. Because the terms of the CIRM Award granted in connection with the HOPE trial allow Capricor to elect to convert the grant into a loan at the end of the project period, the CIRM Award is being classified as a liability rather than income (see Note 6 - “Government Grant Awards”). Grant income is due upon submission of reimbursement request. The transaction price varies for grant income based on the expenses incurred under the awards. Revenue from nonrefundable, up-front license or technology access payments under license and collaborative arrangements that are not dependent on any future performance by the Company is recognized when such amounts are earned. If the Company has continuing obligations to perform under the arrangement, such fees are recognized over the estimated period of the continuing performance obligation. During 2017, the Company accounted for multiple element arrangements, such as license and development agreements in which a customer may purchase several deliverables, in accordance with FASB ASC Subtopic 605-25, Multiple Element Arrangements The Company determined that the deliverables under its Collaboration Agreement with Janssen (see Note 8 – “License Agreements”) did not meet the criteria to be considered separate accounting units for the purposes of revenue recognition. As a result, the Company recognized revenue from non-refundable, upfront fees ratably over the term of its performance under the agreement with Janssen. The upfront payments received, pending recognition as revenue, were recorded as deferred revenue and were classified as a short-term or long-term liability on the condensed consolidated balance sheets of the Company and amortized over the estimated period of performance. The Company periodically reviewed the estimated performance period of its contract based on the estimated progress of its project. As of June 30, 2017, the full amount of income has been recognized under the Janssen Agreement and the Janssen Agreement terminated. Revenue is recognized in connection with the delivery of doses which were developed as part of our past R&D efforts. Income is recorded when the Company has satisfied the obligations as identified in the contracts with the customer (see Note 9 – “Related Party Transactions”). Other income is due upon billing. Other income is based on contracts with fixed transaction prices.
Loan Payable [Policy Text Block]	Loan Payable The Company accounted for the funds advanced under the CIRM Loan Agreement as a loan payable as the eventual repayment of the loan proceeds or forgiveness of the loan was contingent upon certain milestones being met and other conditions (see Note 2 – “Loan Payable”). On November 17, 2017, the Company gave notice to CIRM that it was electing to abandon the CIRM-funded project pursuant to the Loan Agreement and on December 11, 2017, Capricor and CIRM entered into Amendment No. 3 to the CIRM Notice of Loan Award whereby the total loan balance under the CIRM Loan Agreement has been forgiven by CIRM thereby terminating Capricor and the Company’s obligation to repay the loan balance.
Lessor, Leases [Policy Text Block]	Rent Rent expense for the Company’s leases, which generally have escalating rental amounts over the term of the lease, is recorded on a straight-line basis over the lease term. The difference between the rent expense and rent paid has been recorded as deferred rent in the condensed consolidated balance sheet under accounts payable and accrued expenses. Rent is amortized on a straight-line basis over the term of the applicable lease, without consideration of renewal options.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs relating to the design and development of new products are expensed as research and development as incurred in accordance with FASB ASC 730-10, Research and Development 2.7 3.3
Comprehensive Income loss [Policy Text Block]	Comprehensive income (loss) generally represents all changes in stockholders’ equity during the period except those resulting from investments by, or distributions to, stockholders. The Company’s comprehensive loss was approximately $ 3.7 8,709 6,187
Compensation Related Costs, Policy [Policy Text Block]	Stock-Based Compensation The Company accounts for stock-based employee compensation arrangements in accordance with guidance issued by the FASB, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees, consultants, and directors based on estimated fair values. The Company estimates the fair value of stock-based compensation awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods in the Company’s statements of operations. The Company estimates the fair value of stock-based compensation awards using the Black-Scholes model. This model requires the Company to estimate the expected volatility and value of its common stock and the expected term of the stock options, all of which are highly complex and subjective variables. The variables take into consideration, among other things, actual and projected stock option exercise behavior. For employees and directors, the expected life was calculated based on the simplified method as described by the SEC Staff Accounting Bulletin No. 110, Share-Based Payment. For other service providers, the expected life was calculated using the contractual term of the award. The Company's estimate of expected volatility was based on the historical stock price of the Company. The Company has selected a risk-free rate based on the implied yield available on U.S. Treasury securities with a maturity equivalent to the expected term of the options.
Earnings Per Share, Policy [Policy Text Block]	The Company reports earnings per share in accordance with FSAB ASC 260-10, Earnings per Share. For the three months ended March 31, 2018 and 2017, warrants and options to purchase 8,077,236 8,261,999
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements Assets and liabilities recorded at fair value in the balance sheet are categorized based upon the level of judgment associated with the inputs used to measure their fair value. The categories are as follows: Level Input: Input Definition: Level I Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date. Level II Inputs, other than quoted prices included in Level I, that are observable for the asset or liability through corroboration with market data at the measurement date. Level III Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. March 31, 2018 Level I Level II Level III Total Marketable Securities $ 5,995,380 $ - $ - $ 5,995,380 December 31, 2017 Level I Level II Level III Total Marketable Securities $ 7,984,800 $ - $ - $ 7,984,800 Carrying amounts reported in the balance sheet of cash and cash equivalents, grants receivable, accounts payable and accrued expenses approximate fair value due to their relatively short maturity. The carrying amounts of the Company’s marketable securities are based on market quotations from national exchanges at the balance sheet date. Interest and dividend income are recognized separately on the income statement based on classifications provided by the brokerage firm holding the investments. The fair value of borrowings is not considered to be significantly different from its carrying amount because the stated rates for such debt reflect current market rates and conditions.
New Accounting Pronouncements, Policy [Policy Text Block]	In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Topic 606) In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Topic 915): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , Leases (Topic 840) In March 2016, the FASB issued ASU 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC, did not or are not believed by management to have a material impact on the Company’s present or future condensed consolidated financial statement presentation or disclosures. For a more detailed listing of the Company’s significant accounting policies, see Note 1 – “Organization and Summary of Significant Accounting Policies,” of the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the SEC on March 22, 2018.

ORGANIZATION AND SUMMARY OF S18

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Schedule Of Cash And Cash Equivalents And Restricted Cash [Table Text Block]	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that total the same such amounts shown in the statement of cash flows. March 31, March 31, 2018 2017 Cash and cash equivalents $ 7,169,262 $ 2,750,473 Restricted cash 619,427 1,125,830 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 7,788,689 $ 3,876,303
Property, Plant and Equipment [Table Text Block]	Property and equipment consisted of the following as of March 31, 2018 and December 31, 2017: March 31, December 31, 2018 2017 Furniture and fixtures $ 46,709 $ 46,709 Laboratory equipment 806,380 619,994 Leasehold improvements 47,043 47,043 900,132 713,746 Less accumulated depreciation (364,891) (341,650) Property and equipment, net $ 535,241 $ 372,096
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	A summary of future amortization expense as of March 31, 2018 is as follows: Years ended Amortization Expense 2018 (9 months) $ 32,458 2019 43,276 2020 4,330 2021 2,165
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	The following tables summarize the fair value measurements by level for assets and liabilities measured at fair value on a recurring basis: March 31, 2018 Level I Level II Level III Total Marketable Securities $ 5,995,380 $ - $ - $ 5,995,380 December 31, 2017 Level I Level II Level III Total Marketable Securities $ 7,984,800 $ - $ - $ 7,984,800

STOCK AWARDS, WARRANTS AND OP19

STOCK AWARDS, WARRANTS AND OPTIONS (Tables)	3 Months Ended
	Mar. 31, 2018
Schedule of Employee and Non-Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Employee and non-employee stock-based compensation expense for the three months ended March 31, 2018 and 2017 was as follows: Three months ended March 31, 2018 2017 General and administrative $ 304,388 $ 301,222 Research and development 130,475 170,568 Total $ 434,863 $ 471,790
Warrant
Schedule Of Warrant Activity [Table Text Block]	The following table summarizes all warrant activity for the period ended March 31, 2018: Warrants Weighted Average Outstanding at January 1, 2018 1,081,716 $ 4.01 Granted - - Exercised - - Expired - - Outstanding at March 31, 2018 1,081,716 $ 4.01
Schedule of Stockholders Equity Note, Warrants or Rights [Table Text Block]	The following table summarizes all outstanding warrants to purchase shares of the Company’s common stock: Warrants Outstanding Grant Date March 31, 2018 December 31, 2017 Exercise Price Expiration 11/20/2013 235,643 235,643 $ 2.27 11/20/2018 3/16/2016 846,073 846,073 $ 4.50 3/16/2019 1,081,716 1,081,716
Stock Options
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The Company used the following assumptions to estimate the fair value of stock options issued during the three months ended March 31, 2018 and 2017: March 31, 2018 March 31, 2017 Expected volatility 142% - 145% 78% - 81% Expected term 5-6 years 5-7 years Dividend yield 0% 0% Risk-free interest rates 2.3% 2.2% - 2.3%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following is a schedule summarizing employee and non-employee stock option activity for the three months ended March 31, 2018: Number of Weighted Average Aggregate Outstanding at January 1, 2018 6,873,903 $ 1.62 $ - Granted 602,678 1.57 Exercised (376,055) 0.37 Expired/Cancelled (105,006) 2.35 Outstanding at March 31, 2018 6,995,520 $ 1.68 $ - Exercisable at March 31, 2018 5,630,185 $ 1.42 $ -

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	A summary of future minimum rental payments required under operating leases as of March 31, 2018 is as follows: Years ended Operating Leases 2018 (9 months) $ 300,001

ORGANIZATION AND SUMMARY OF S21

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Cash and cash equivalents	$ 7,169,262	$ 6,140,135	$ 2,750,473
Restricted cash	619,427	742,002	1,125,830
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows	$ 7,788,689	$ 6,882,137	$ 3,876,303	$ 4,551,603

ORGANIZATION AND SUMMARY OF S22

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment, Gross	$ 900,132	$ 713,746
Less accumulated depreciation	(364,891)	(341,650)
Property and equipment, net	535,241	372,096
Furniture and fixtures [Member]
Property, Plant and Equipment, Gross	46,709	46,709
Laboratory equipment [Member]
Property, Plant and Equipment, Gross	806,380	619,994
Leasehold improvements [Member]
Property, Plant and Equipment, Gross	$ 47,043	$ 47,043

ORGANIZATION AND SUMMARY OF S23

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	Mar. 31, 2018USD ($)
Finite-Lived Intangible Assets [Line Items]
2018 (9 months)	$ 32,458
2,019	43,276
2,020	4,330
2,021	$ 2,165

ORGANIZATION AND SUMMARY OF S24

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	$ 5,995,380	$ 7,984,800
Level I [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	5,995,380	7,984,800
Level II [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	0	0
Level III [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	$ 0	$ 0

ORGANIZATION AND SUMMARY OF S25

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	May 10, 2018	Dec. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Oct. 19, 2017
Accounting Policies [Line Items]
Common Stock, Par or Stated Value Per Share		$ 0.001	$ 0.001		$ 0.001
Research and Development Expense, Total			$ 2,696,517	$ 3,257,149
Cash, Cash Equivalents, and Marketable Securities		$ 14,100,000	$ 13,200,000		$ 13,200,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			8,077,236	8,261,999
Comprehensive Income (Loss), Net of Tax, Attributable to Parent			$ (3,662,821)	$ (3,660,430)
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax			8,709	6,187
Amortization of Intangible Assets			10,819	12,187
Depreciation			23,241	26,584
Restricted Cash and Cash Equivalents		700,000	600,000		600,000
Proceeds from Issuance of Common Stock			2,373,478	$ 0
Amount Available Under Grant And Loan Awards			$ 4,900,000		$ 4,900,000
Debt Instrument, Decrease, Forgiveness		$ 15,700,000
October 2017 ATM Program [Member]
Accounting Policies [Line Items]
Common Stock, Par or Stated Value Per Share						$ 0.001
Stock Issued During Period, Shares, New Issues			1,311,833		2,337,936
Shares Issued, Price Per Share			$ 1.88		$ 1.88
Common Stock Sales Agreement, Maximum Amount To Be Issued						$ 14,000,000
Proceeds from Issuance of Common Stock					$ 5,200,000
Subsequent Event [Member] | October 2017 ATM Program [Member]
Accounting Policies [Line Items]
Stock Issued During Period, Shares, New Issues	3,477,110
Shares Issued, Price Per Share	$ 1.97
Proceeds from Issuance of Common Stock	$ 6,800,000
Common Stock Sales Agreement available for further issuance	$ 7,200,000

LOAN PAYABLE (Details Textual)

LOAN PAYABLE (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Feb. 05, 2013
LOAN PAYABLE [Line Items]
Interest expense	$ 0	$ 105,320
Loan Payable Forgiven			$ 15,700,000
CIRM Loan Agreement [Member]
LOAN PAYABLE [Line Items]
Amount Awarded Under Loan Agreement				$ 19,800,000

STOCKHOLDER'S EQUITY (Details T

STOCKHOLDER'S EQUITY (Details Textual) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	Oct. 31, 2017	May 05, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Dec. 31, 2017	Oct. 19, 2017
Class of Stock [Line Items]
Common Stock, par value (in dollars per share)			$ 0.001		$ 0.001	$ 0.001
Common Stock Shares Outstanding			27,970,879		27,970,879	26,270,491
Stock Issued During Period, Value, New Issues			$ 2,373,478
Proceeds from Issuance of Common Stock			$ 2,373,478	$ 0
March 2017 Atm Program [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	2,589,078
Payments of Stock Issuance Costs	$ 200,000
Shares Issued, Price Per Share	$ 1.93
Proceeds from Issuance of Common Stock	$ 5,000,000
Common Stock Sales Agreement, Maximum Amount To Be Issued	$ 5,000,000
May 2017 Private Placement [Member]
Class of Stock [Line Items]
Common Stock, par value (in dollars per share)		$ 0.001
Stock Issued During Period, Shares, New Issues		1,196,291
Shares Issued, Price Per Share		$ 3.10
Proceeds from Issuance of Common Stock		$ 3,700,000
October 2017 ATM Program [Member]
Class of Stock [Line Items]
Common Stock, par value (in dollars per share)							$ 0.001
Stock Issued During Period, Shares, New Issues			1,311,833		2,337,936
Stock Issued During Period, Value, New Issues			$ 2,400,000
Payments of Stock Issuance Costs					$ 200,000
Shares Issued, Price Per Share			$ 1.88		$ 1.88
Proceeds from Issuance of Common Stock					$ 5,200,000
Commission Rate On Sale Price Per Share			3.00%
Common Stock Sales Agreement, Maximum Amount To Be Issued							$ 14,000,000
Share Issued Weighted Average Share Price					$ 2.22

STOCK AWARDS, WARRANTS AND OP28

STOCK AWARDS, WARRANTS AND OPTIONS (Details)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Class of Warrant or Right [Line Items]
Warrants Outstanding at Beginning | shares	1,081,716
Warrants Granted | shares	0
Warrants Exercised | shares	0
Warrants Expired | shares	0
Warrants Outstanding at Ending | shares	1,081,716
Weighted Average Exercise Price Outstanding at Beginning | $ / shares	$ 4.01
Weighted Average Exercise Price Granted | $ / shares	0
Weighted Average Exercise Price Exercised | $ / shares	0
Weighted Average Exercise Price Expired | $ / shares	0
Weighted Average Exercise Price Outstanding at Ending | $ / shares	$ 4.01

STOCK AWARDS, WARRANTS AND OP29

STOCK AWARDS, WARRANTS AND OPTIONS (Details 1) - $ / shares	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Class of Warrant or Right [Line Items]
Warrants Outstanding	1,081,716	1,081,716
Period Issuance two [Member]
Class of Warrant or Right [Line Items]
Grant Date	Nov. 20, 2013
Warrants Outstanding	235,643	235,643
Weighted Average Exercise Price	$ 2.27
Expiration Date	Nov. 20, 2018
Period Issuance three [Member]
Class of Warrant or Right [Line Items]
Grant Date	Mar. 16, 2016
Warrants Outstanding	846,073	846,073
Weighted Average Exercise Price	$ 4.5
Expiration Date	Mar. 16, 2019

STOCK AWARDS, WARRANTS AND OP30

STOCK AWARDS, WARRANTS AND OPTIONS (Details 2)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	145.00%	81.00%
Expected term	6 years	7 years
Risk-free interest rates	2.30%	2.30%
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	142.00%	78.00%
Expected term	5 years	5 years
Risk-free interest rates		2.20%

STOCK AWARDS, WARRANTS AND OP31

STOCK AWARDS, WARRANTS AND OPTIONS (Details 3) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation cost	$ 434,863	$ 471,790
General and adminstrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation cost	304,388	301,222
Research and development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation cost	$ 130,475	$ 170,568

STOCK AWARDS, WARRANTS AND OP32

STOCK AWARDS, WARRANTS AND OPTIONS (Details 4) - Stock Option [Member] - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Number of Options
Outstanding at Beginning of the period	6,873,903
Granted	602,678
Exercised	(376,055)
Expired/Cancelled	(105,006)
Outstanding at Ending of the period	6,995,520
Exercisable	5,630,185
Weighted Average Exercise Price
Outstanding at Beginning of the period	$ 1.62
Granted	1.57
Exercised	0.37
Expired/Cancelled	2.35
Outstanding at Ending of the period	1.68
Exercisable	$ 1.42
Aggregate Intrinsic Value
Outstanding	$ 0	$ 0
Exercisable	$ 0

STOCK AWARDS, WARRANTS AND OP33

STOCK AWARDS, WARRANTS AND OPTIONS (Details Textual) - USD ($)	Jun. 02, 2016	Feb. 28, 2018	Jan. 31, 2018	Dec. 31, 2017	Jan. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value						$ 1.45	$ 1.86
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value						$ 521,678
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				12,500
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		12,500
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures		$ 22,750
Stock Option Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized			525,409		427,980				325,099
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Annual Increase In Number Of Shares Authorized								2.00%
Non-Employee Director Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Amount Authorized in Plans After Merger						2,697,311
Employee Stock Option [Member] | Stock Option Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Amount Authorized in Plans After Merger						4,149,710			4,149,710
Share Authorized In Plans After Merger	4,149,710
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Annual Increase In Number Of Shares Authorized	2.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant									4,474,809
Incentive Stock Option [Member] | Stock Option Plan 2012 [Member]
Disclosure Stockholders Equity, stock Options And Warrants Additional Information [Line Items]
Minimum Limit Of Fair Market Value To Be Treated As Non-Statutory Stock						$ 100,000

CONCENTRATIONS (Details Textual

CONCENTRATIONS (Details Textual)	Mar. 31, 2018USD ($)
Concentration Risk [Line Items]
Cash, Uninsured Amount	$ 13,400,000
Financial Institution One [Member]
Concentration Risk [Line Items]
Cash, FDIC Insured Amount	$ 250,000

GOVERNMENT GRANT AWARDS (Detail

GOVERNMENT GRANT AWARDS (Details Textual) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jun. 16, 2016	Mar. 31, 2018	Dec. 31, 2017	Nov. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Disbursement Amount Under Grant Award				$ 0.3	$ 3.1
Restricted Cash and Cash Equivalents		$ 0.6	$ 0.7
California Institute for Regenerative Medicine [Member]
Grant Award Liability	$ 3.4	3.4
Minimum Expected Contribution	$ 2.3
Restricted Cash and Cash Equivalents		0.6
NIH Grant Award HLHS [Member]
Maximum Amount Approved for Grant Award						$ 4.2
Cost Incurred Under Award		0.6
U.S. Department of Defense Grant Award [Member]
Approved For Grant Award						$ 2.4
Cost Incurred Under Award		$ 1.1

COMMITMENTS AND CONTINGENCIES36

COMMITMENTS AND CONTINGENCIES (Details)	Mar. 31, 2018USD ($)
Other Commitments [Line Items]
2018 (9 months)	$ 300,001

COMMITMENTS AND CONTINGENCIES37

COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($)	Aug. 01, 2017	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2017	Jun. 01, 2014
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Minimum Rentals		$ 4,190
Maximum [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense			$ 19,756
Minimum [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense	$ 19,350
Monthly Lease Payment First Twelve Month [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Contingent Rentals			22,995
Monthly Lease Payment Second Twelve Month [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Contingent Rentals			23,915
Monthly lease payment Remainder lease payment [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Contingent Rentals			24,872
Unrealated Party [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Net			77,264	$ 71,215
Related party [Member]
Commitments and Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense			59,268	$ 56,105
Operating Leases, Future Minimum Payments Due		$ 79,024	$ 79,024
Per Month [Member]
Commitments and Contingencies Disclosure [Line Items]
Leases Monthly Payments for First Six Months					$ 15,461
Leases Monthly Payments for Remainder					$ 19,350

LICENSE AGREEMENTS (Details Tex

LICENSE AGREEMENTS (Details Textual)	Aug. 05, 2016USD ($)	Dec. 26, 2017USD ($)	Feb. 27, 2015USD ($)	Dec. 27, 2013USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2018EUR (€)
LICENSE AGREEMENTS [Line Items]
Payments for Royalties | €						€ 20,000
Reimbursed Expenses to be Paid		$ 50,000
CSMC [Member]
LICENSE AGREEMENTS [Line Items]
Upfront Payment	$ 2,500
Reimbursed Expenses to be Paid	16,000
Exosomes License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Upfront Payment			$ 20,000
Additional Milestone Payment			190,000
Reimbursed Expenses to be Paid			34,000
Janssen Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Payment Received For Development Fee				$ 12,500,000
CSMC Licence Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Upfront Payment	2,500
Reimbursed Expenses to be Paid	$ 10,000
Minimum [Member]
LICENSE AGREEMENTS [Line Items]
Development Milestones					$ 350,000
Maximum [Member]
LICENSE AGREEMENTS [Line Items]
Development Milestones					800,000
Maximum [Member] | JHU License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Potential Milestone Payments					1,850,000
Completion of Phase One [Member] | Exosomes License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Milestone Payments To Be Made Upon Successful Completion Of Certain Phases			15,000
Completion of Phase One [Member] | Minimum [Member]
LICENSE AGREEMENTS [Line Items]
Range of Milestone Payments, Payable Upon Successful Completion of Certain Phases					100,000
Obtention of FDA Approval [Member] | Exosomes License Agreement [Member]
LICENSE AGREEMENTS [Line Items]
Milestone Payments To Be Made Upon Successful Completion Of Certain Phases			$ 75,000
Obtention of FDA Approval [Member] | Maximum [Member]
LICENSE AGREEMENTS [Line Items]
Range of Milestone Payments, Payable Upon Successful Completion of Certain Phases					1,000,000
First and Second Anniversary [Member]
LICENSE AGREEMENTS [Line Items]
Payments for Royalties					5,000
Tenth Anniversary and Thereafter [Member]
LICENSE AGREEMENTS [Line Items]
Payments for Royalties					$ 20,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	1 Months Ended			3 Months Ended
	Mar. 24, 2014	Apr. 30, 2013	Jan. 01, 2013	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Accounts Payable and Accrued Expenses Related Party Current				$ 69,561		$ 174,424
Due to Related Parties						122,500
Due from Related Parties				2,100,000
Related Party Transaction, Other Revenues from Transactions with Related Party				93,000
Payments for Reimbursement for Research and Development Expenses Incurred Related Party				200,000	$ 500,000
Prepaid Expenses and Other Current Assets [Member]
Related Party Transaction [Line Items]
Due to Related Parties				93,000
Lit Digital Media LLC [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party				1,500
Board of Directors Chairman [Member] | Sublease Agreement with Frank Litvack [Member]
Related Party Transaction [Line Items]
Rental Income, Nonoperating		$ 2,500		7,500	$ 7,500
Board of Directors Chairman [Member] | Consulting Agreement with Frank Litvack [Member]
Related Party Transaction [Line Items]
Monthly Consulting Fees to Related Party	$ 10,000		$ 10,000
Affiliated Entity [Member] | Transaction other than Sub-Award Agreement [Member]
Related Party Transaction [Line Items]
Accounts Payable and Accrued Expenses Related Party Current				$ 54,582		$ 160,566

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($)	May 10, 2018	Mar. 31, 2018	Mar. 31, 2017
Proceeds from Issuance of Common Stock		$ 2,373,478	$ 0
Subsequent Event [Member] | October 2017 ATM Program [Member]
Stock Issued During Period, Shares, New Issues	1,139,174
Shares Issued, Price Per Share	$ 1.46
Proceeds from Issuance of Common Stock	$ 1,700,000
Payments of Stock Issuance Costs	$ 52,000
Commission Rate On Sale Price Per Share	3.00%
Subsequent Event [Member] | TrialTech Medical, Inc [Member]
Estimated Cost For Clinical Trial Services	$ 250,000