NeuBase Therapeutics (NBSE) 10-Q 11 May 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2017	May 09, 2017
Document And Entity Information
Entity Registrant Name	Ohr Pharmaceutical Inc
Entity Central Index Key	1,173,281
Document Type	10-Q
Trading Symbol	OHRP
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		56,211,428
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2017	Sep. 30, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 9,521,236	$ 12,546,890
Prepaid expenses and other current assets	570,214	738,118
Total Current Assets	10,091,450	13,285,008
EQUIPMENT, net	172,404	198,631
OTHER ASSETS
Security deposit	12,243	12,243
Intangible assets, net	14,648,969	15,208,219
Goodwill	740,912	740,912
TOTAL ASSETS	25,665,978	29,445,013
CURRENT LIABILITIES
Accounts payable and accrued expenses	6,780,781	4,394,068
Notes payable	261,326	87,798
Total Current Liabilities	7,042,107	4,481,866
TOTAL LIABILITIES	7,042,107	4,481,866
STOCKHOLDERS' EQUITY
Preferred stock, Series B; 6,000,000 shares authorized, $0.0001 par value, 0 shares issued and outstanding, respectively
Common stock; 180,000,000 shares authorized, $0.0001 par value, 35,961,396 and 32,076,396 shares issued and outstanding, respectively	3,596	3,207
Additional paid-in capital	117,563,612	109,237,551
Accumulated deficit	(98,943,337)	(84,277,611)
Total Stockholders' Equity	18,623,871	24,963,147
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 25,665,978	$ 29,445,013

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2017	Sep. 30, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	6,000,000	6,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	180,000,000	180,000,000
Common stock, shares issued	35,961,396	32,076,396
Common stock, shares outstanding	35,961,396	32,076,396

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
OPERATING EXPENSES
General and administrative	$ 1,404,060	$ 2,966,363	$ 3,150,416	$ 4,184,492
Research and development	5,993,928	4,043,859	10,925,072	6,120,139
Depreciation and amortization	291,876	296,077	590,311	593,816
Gain on settlement of accounts payable		(710,264)		(710,264)
OPERATING LOSS	7,689,864	6,596,035	14,665,799	10,188,183
OTHER INCOME (EXPENSE)
Change in fair value of contingent consideration		1,305,623		(1,251,926)
Other income				3,419
Interest income (expense), net	(208)	5,553	73	6,369
Total Other Income (Expense)	(208)	1,311,176	73	(1,242,138)
LOSS FROM OPERATIONS BEFORE INCOME TAXES	(7,690,072)	(5,284,859)	(14,665,726)	(11,430,321)
NET LOSS	$ (7,690,072)	$ (5,284,859)	$ (14,665,726)	$ (11,430,321)
BASIC AND DILUTED LOSS PER SHARE (in dollars per share)	$ (0.21)	$ (0.17)	$ (0.43)	$ (0.37)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
BASIC AND DILUTED (in shares)	36,738,396	31,344,424	34,381,781	30,906,114

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
OPERATING ACTIVITIES
Net loss	$ (14,665,726)	$ (11,430,321)
Adjustments to reconcile net loss to net cash used by operating activities:
Common stock issued for services	633,697	715,952
Stock option expense	846,270	1,724,375
Change in fair value of contingent consideration		1,251,926
Depreciation	31,060	31,494
Amortization of intangible assets	559,250	562,322
Gain on settlement of accounts payable		(710,264)
Changes in operating assets and liabilities
Prepaid expenses and deposits	310,429	98,009
Accounts payable and accrued expenses	2,386,713	987,180
Net Cash Used in Operating Activities	(9,898,307)	(6,769,327)
INVESTING ACTIVITIES
Purchase of property and equipment	(4,833)	(12,103)
Net Cash Used in Investing Activities	(4,833)	(12,103)
FINANCING ACTIVITIES
Proceeds for issuance of common stock for cash	6,846,483
Proceeds from warrants exercised for cash	118,801	13,540
Repayments of short-term notes payable	(87,798)	(48,063)
Net Cash Provided by/(Used in) Financing Activities	6,877,486	(34,523)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(3,025,654)	(6,815,953)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	12,546,890	28,697,323
CASH AND CASH EQUIVALENTS AT END OF PERIOD	9,521,236	21,881,370
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest	798
NON CASH FINANCING ACTIVITIES:
Settlement of contingent consideration		2,061,136
Financing of insurance premiums through issuance of short term notes	$ 261,326	$ 215,810

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE 1 – BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements include the accounts of Ohr Pharmaceutical, Inc. and its subsidiaries (the “Company”). The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X related to interim period financial statements. Accordingly, these consolidated financial statements do not include certain information and footnotes required by GAAP for complete financial statements. However, in the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at March 31, 2017, and for all periods presented herein, have been made. It is suggested that these unaudited consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2016. The results of operations for the quarterly periods ended March 31, 2017 and 2016 are not necessarily indicative of the operating results for the full years.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Estimates subject to change in the near term include impairment (if any) of long-lived assets. Fair Value of Financial Instruments In accordance with ASC 820, the carrying value of cash and cash equivalents, accounts receivable, accounts payable and notes payable approximates fair value due to the short-term maturity of these instruments. ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 - Unobservable inputs, where there is little or no market activity for the asset or liability. These inputs reflect the reporting entity’s own beliefs about the assumptions that market participants would use in pricing the asset or liability, based on the best information available in the circumstances. There are no assets and liabilities that are measured and recognized at fair value as of March 31, 2017 and September 30, 2016, on a recurring basis. Recent Accounting Pronouncements The Company has implemented all new relevant accounting pronouncements that are in effect through the date of these financial statements. The pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial position or results of operations.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 3 – INTANGIBLE ASSETS Intangible assets at March 31, 2017 and September 30, 2016: March 31, September 30, 2017 2016 License Rights $ 17,712,991 $ 17,712,991 Patent Costs 200,000 200,000 17,912,991 17,912,991 Accumulated Amortization (3,264,022 ) (2,704,772 ) Total Intangible Assets $ 14,648,969 $ 15,208,219 During the three month and six month periods ended March 31, 2017 the Company recognized $276,551, and $559,250, respectively, in amortization expense on the patents and license rights. The amortization expense has been included in research and development expense.

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTE 4 – NOTES PAYABLE On February 28, 2016, the Company entered into a premium financing arrangement for its directors and officers insurance policy in the amount of $215,810. The financing arrangement bears interest at a rate of 7% per annum. The Company had repaid the loan in full during the six month period ended March 31, 2016 and had paid total interest of $6,984. On February 28, 2017, the Company entered into a premium financing arrangement for its directors and officers insurance policy in the amount of $261,326. The financing arrangement bears interest at a rate of 7.5% per annum. As of March 31, 2017, the Company had repaid $0 of the loan and had recorded interest of $1,504.

EQUITY

EQUITY	6 Months Ended
	Mar. 31, 2017
Equity [Abstract]
EQUITY	NOTE 5 – EQUITY Public Offering On December 7, 2016, the Company entered into a securities purchase agreement with various purchasers pursuant to which the Company issued and sold to the purchasers in a registered offering an aggregate of 3,885,000 shares of its common stock, together with Series A common stock purchase warrants (“Series A Warrants”) exercisable for up to an aggregate of 1,942,501 shares of common stock and Series B common stock purchase warrants (“Series B Warrants”) exercisable for up to an aggregate of 3,885,000 shares of common stock. The offering closed on December 13, 2016 and the Company received net proceeds of approximately $6.8 million, after deducting placement agent fees and offering expenses payable by the Company. The Series A Warrants have an exercise price of $2.75 per share and the Series B Warrant has an exercise price of $3.00 per share. The Series A Warrants are immediately exercisable and will expire on the five year anniversary of the date of issuance. The Series B Warrants are immediately exercisable and will expire on the six month anniversary of the date of issuance. Common Stock Warrants Below is a table summarizing the warrants issued and outstanding as of March 31, 2016 (“Price” reflects the weighted average exercise price per share): Warrants Price Outstanding at September 30, 2016 614,923 $ 5.08 Granted — — Investor warrants 5,827,501 2.92 Stock-based compensation warrants — — Exercised — — Investor warrants — — Stock-based compensation warrants — — Forfeited or expired Investor warrants (37,220 ) 1.95 Stock-based compensation warrants (201,042 ) 7.92 Outstanding at March 31, 2017 6,204,162 $ 2.97 Exercisable at March 31, 2017 6,204,162 $ 2.97 During the six month period ended March 31, 2017, the Company received the proceeds related to warrants exercised in July 2016 amounting to $118,801. Stock Based Compensation The Company’s Consolidated 2016 Stock Plan (“the Plan”) provides for granting stock options and restricted stock awards to employees, directors and consultants of the Company. Warrants. Options. Below is a table summarizing the Company’s activity for the six month period ended March 31, 2017 (“Price” reflects the weighted average exercise price per share): Options Price Outstanding at September 30, 2016 2,857,468 $ 6.66 Granted — — Exercised — — Forfeited or expired (910,637 ) 6.21 Outstanding at March 31, 2017 1,946,831 $ 6.81 Exercisable at March 31, 2017 1,558,577 $ 6.78 As of March 31, 2017, the outstanding options have no intrinsic value. Restricted Stock. Below is a table summarizing the Company’s activity for the six months ended March 31, 2017: Shares Weighted Nonvested at September 30, 2016 600,358 4.80 Granted — — Vested (285,179 ) 4.81 Forfeited — — Nonvested at March 31, 2017 315,179 4.79

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 – COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company may become involved in certain legal proceedings and claims which arise in the normal course of business. If an unfavorable ruling were to occur, there exists the possibility of a material adverse impact on the Company’s results of operations, prospects, cash flows, financial position and brand. To the best knowledge of the Company’s management, at March 31, 2017, there are no legal proceedings which the Company believes will have a material adverse effect on its business, results of operations, cash flows or financial condition.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 – RELATED PARTY TRANSACTION Our Contract Research Organization (“CRO”) running our clinical trial has contracted with Jason S. Slakter, M.D., P.C., d/b/a Digital Angiography Reading Center (“DARC”), a well-known digital reading center, which is owned by Dr. Jason Slakter, Ohr’s CEO, pursuant to our related party transactions policy, with the review and approval of the Audit Committee, to provide digital reading and imaging services in connection with the clinical study. During the six months ended March 31, 2017, and 2016, the Company’s CRO was invoiced $285,770 and $0, from DARC.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS On April 5, 2017, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with various purchasers set forth on the signatures pages thereto (the “Purchasers”). Pursuant to the Securities Purchase Agreement, the Company agreed to issue and sell to the Purchasers in a registered offering an aggregate of 20,250,032 shares of its common stock, together with warrants (“Warrants”) exercisable for up to an aggregate of 14,175,059 shares of its common stock. The Warrants have an exercise price of $1.00 per share, will be immediately exercisable and expire on the five year anniversary of the date of issuance. Following the one year anniversary of the date the Warrants are issued, the holders of the Warrants may exercise the Warrants through a cashless exercise, in whole or in part. The public offering closed on April 10, 2017 and the Company received net proceeds of approximately $12.7 million, after deducting placement agent fees and offering expenses payable by the Company, but excluding the proceeds, if any, from the exercise of the Warrants issued in the offering.

SUMMARY OF SIGNIFICANT ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Estimates subject to change in the near term include impairment (if any) of long-lived assets.
Fair Value of Financial Instruments	Fair Value of Financial Instruments In accordance with ASC 820, the carrying value of cash and cash equivalents, accounts receivable, accounts payable and notes payable approximates fair value due to the short-term maturity of these instruments. ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 - Unobservable inputs, where there is little or no market activity for the asset or liability. These inputs reflect the reporting entity’s own beliefs about the assumptions that market participants would use in pricing the asset or liability, based on the best information available in the circumstances. There are no assets and liabilities that are measured and recognized at fair value as of March 31, 2017 and September 30, 2016, on a recurring basis.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has implemented all new relevant accounting pronouncements that are in effect through the date of these financial statements. The pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial position or results of operations.

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Intangible assets at March 31, 2017 and September 30, 2016: March 31, September 30, 2017 2016 License Rights $ 17,712,991 $ 17,712,991 Patent Costs 200,000 200,000 17,912,991 17,912,991 Accumulated Amortization (3,264,022 ) (2,704,772 ) Total Intangible Assets $ 14,648,969 $ 15,208,219

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Schedule of warrants issued and outstanding	Below is a table summarizing the warrants issued and outstanding as of March 31, 2016 (“Price” reflects the weighted average exercise price per share): Warrants Price Outstanding at September 30, 2016 614,923 $ 5.08 Granted — — Investor warrants 5,827,501 2.92 Stock-based compensation warrants — — Exercised — — Investor warrants — — Stock-based compensation warrants — — Forfeited or expired Investor warrants (37,220 ) 1.95 Stock-based compensation warrants (201,042 ) 7.92 Outstanding at March 31, 2017 6,204,162 $ 2.97 Exercisable at March 31, 2017 6,204,162 $ 2.97
Schedule of activity of options	Below is a table summarizing the Company’s activity for the six month period ended March 31, 2017 (“Price” reflects the weighted average exercise price per share): Options Price Outstanding at September 30, 2016 2,857,468 $ 6.66 Granted — — Exercised — — Forfeited or expired (910,637 ) 6.21 Outstanding at March 31, 2017 1,946,831 $ 6.81 Exercisable at March 31, 2017 1,558,577 $ 6.78
Schedule of activity of restricted stock	Below is a table summarizing the Company’s activity for the six months ended March 31, 2017: Shares Weighted Nonvested at September 30, 2016 600,358 4.80 Granted — — Vested (285,179 ) 4.81 Forfeited — — Nonvested at March 31, 2017 315,179 4.79

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 276,551	$ 559,250	$ 562,322

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	Mar. 31, 2017	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
License Rights	$ 17,712,991	$ 17,712,991
Patent Costs	200,000	200,000
Total Intangible Assets,Gross	17,912,991	17,912,991
Accumulated Amortization	(3,264,022)	(2,704,772)
Total	$ 14,648,969	$ 15,208,219

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - Financing Arrangement Directors and Officers Insurance [Member] - USD ($)	Feb. 28, 2017	Mar. 31, 2016	Feb. 28, 2016
Debt issuance date	Feb. 28, 2017	Feb. 28, 2016
Face amount of notes	$ 261,326		$ 215,810
Notes payable, interest rate	7.50%		7.00%
Interest paid	$ 1,504	$ 6,984

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	Dec. 07, 2016	Mar. 31, 2017	Mar. 31, 2017	Mar. 31, 2016
Stock-based compensation expense			$ 846,270	$ 1,724,375
Common stock issued in registered offering	3,885,000
Proceeds for issuance of common stock for cash, net	$ 6,800,000		6,846,483
Proceeds from warrants exercised for cash			118,801	$ 13,540
2016 Stock Plan [Member] | Stock Option [Member]
Stock-based compensation expense		$ 279,697	846,270
Unrecognized compensation cost		1,270,532	$ 1,270,532
Unrecognized compensation cost weighted average recognise period			4 months 20 days
2016 Stock Plan [Member] | Restricted Stock [Member]
Stock-based compensation expense		193,645	$ 633,697
Unrecognized compensation cost		$ 495,736	$ 495,736
Unrecognized compensation cost weighted average recognise period			9 months 11 days
Series A Warrants [Member]
Warrants (exercisable)	1,942,501
Exercise price of warrants	$ 2.75
Series B Warrants [Member]
Warrants (exercisable)	3,885,000
Exercise price of warrants	$ 3

EQUITY (Details)

EQUITY (Details) - Warrants [Member]	6 Months Ended
	Mar. 31, 2017$ / sharesshares
Warrants [Roll Forward]
Outstanding at beginning | shares	614,923
Granted | shares	5,827,201
Forfeited or expired - Investor warrants | shares	(37,220)
Forfeited or expired - Stock-based compensation warrants | shares	(201,042)
Outstanding at end | shares	6,204,162
Exercisable at end | shares	6,204,162
Warrants, Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning | $ / shares	$ 5.08
Granted | $ / shares	2.92
Forfeited or expired - Investor warrants | $ / shares	1.95
Forfeited or expired - Stock-based compensation warrants | $ / shares	7.92
Outstanding at end | $ / shares	2.97
Exercisable at end | $ / shares	$ 2.97

EQUITY (Details 1)

EQUITY (Details 1) - 2016 Stock Plan [Member] - Stock Option [Member]	6 Months Ended
	Mar. 31, 2017$ / sharesshares
Stock Plan, Options [Roll Forward]
Outstanding, beginning | shares	2,857,468
Forfeited or expired | shares	(910,637)
Outstanding, ending | shares	1,946,831
Exercisable, ending | shares	1,558,577
Stock Plan, Options Weighted Average Exercise Price [Rollforward]
Exercise price, beginning | $ / shares	$ 6.66
Forfeited or expired | $ / shares	6.21
Exercise price, ending | $ / shares	6.81
Exercisable, ended | $ / shares	$ 6.78

EQUITY (Details 2)

EQUITY (Details 2) - 2016 Stock Plan [Member] - Restricted Stock [Member]	6 Months Ended
	Mar. 31, 2017$ / sharesshares
Restricted Stock [Roll Forward]
Outstanding at beginning	600,358
Granted
Vested	(285,179)
Outstanding at end	315,179
Restricted Stock, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning | $ / shares	$ 4.80
Vested | $ / shares	4.81
Outstanding at end | $ / shares	$ 4.79

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Detail Narratives) - USD ($)	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Dr. Jason Slakter [Member]
Amount invoiced for services - related party	$ 285,770	$ 0

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Apr. 10, 2017	Dec. 07, 2016	Mar. 31, 2017	Apr. 05, 2017
Proceeds for issuance of common stock of securities purchase agreement		$ 6,800,000	$ 6,846,483
Common stock issued for cash (shares)		3,885,000
Subsequent Event [Member]
Proceeds for issuance of common stock of securities purchase agreement	$ 12,700,000
Common stock issued for cash (shares)	20,250,032
Subsequent Event [Member] | Warrants [Member]
Warrants				14,175,059
Exercise price				$ 1