NeuBase Therapeutics (NBSE) 10-Q 14 Feb 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2017	Feb. 13, 2018
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	Dec. 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	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		56,466,428
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2017	Sep. 30, 2017
CURRENT ASSETS
Cash and Cash Equivalents	$ 8,724,057	$ 12,801,085
Prepaid expenses and other current assets	100,722	223,278
Total Current Assets	8,824,779	13,024,363
EQUIPMENT, net	60,890	63,757
OTHER ASSETS
Security deposit		12,243
Intangible assets, net	13,805,484	14,087,602
Goodwill	740,912	740,912
TOTAL ASSETS	23,432,065	27,928,877
CURRENT LIABILITIES
Accounts payable and accrued expenses	3,598,471	4,827,525
Notes payable		106,387
Total Current Liabilities	3,598,471	4,933,912
Long-term liability	150,000	150,000
TOTAL LIABILITIES	3,748,471	5,083,912
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, 56,421,428 and 56,196,428 shares issued and outstanding, respectively	5,642	5,619
Additional paid-in capital	131,917,917	130,927,953
Accumulated deficit	(112,239,965)	(108,088,607)
Total Stockholders' Equity	19,683,594	22,844,965
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 23,432,065	$ 27,928,877

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2017	Sep. 30, 2017
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	56,421,428	56,196,428
Common stock, shares outstanding	56,421,428	56,196,428

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
OPERATING EXPENSES
General and administrative	$ 1,510,032	$ 1,746,356
Research and development	2,387,731	4,931,144
Depreciation and amortization	284,986	298,435
TOTAL OPERATING LOSS	4,182,749	6,975,935
OTHER INCOME (EXPENSE)
Other income (expense)	31,391	281
Total Other Income (Expense)	31,391	281
LOSS FROM OPERATIONS BEFORE INCOME TAXES	(4,151,358)	(6,975,654)
NET LOSS	$ (4,151,358)	$ (6,975,654)
BASIC AND DILUTED LOSS PER SHARE (in dollars per share)	$ (.07)	$ (.21)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
BASIC AND DILUTED (in shares)	56,203,765	32,836,505

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
OPERATING ACTIVITIES
Net loss	$ (4,151,358)	$ (6,975,654)
Adjustments to reconcile net loss to net cash used by operating activities:
Common stock issued for services	135,701	440,052
Stock option expense	629,286	566,573
Depreciation	2,867	15,736
Amortization of intangible assets	282,118	282,699
Changes in operating assets and liabilities
Prepaid expenses and deposits	122,556	247,926
Accounts payable and accrued expenses	(1,229,054)	(507,793)
Security Deposit used	12,243
Net Cash Used in Operating Activities	(4,195,641)	(5,930,461)
INVESTING ACTIVITIES
Purchase of property and equipment		(4,833)
Net Cash Provided by (Used in) Investing Activities		(4,833)
FINANCING ACTIVITIES
Proceeds from issuance of common stock for cash		6,846,483
Proceeds from warrants exercised for cash	225,000	118,801
Repayments of short-term notes payable	(106,387)	(87,798)
Net Cash Provided by (Used in) Financing Activities	118,613	6,877,486
NET CHANGE IN CASH	(4,077,028)	942,192
CASH AT BEGINNING OF PERIOD	12,801,085	12,546,890
CASH AT END OF PERIOD	8,724,057	13,489,082
CASH PAID FOR:
Interest	$ 1,770	$ 1,320

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Dec. 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 December 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, 2017. The results of operations for the quarterly periods ended December 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	3 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN 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 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 December 31, 2017 and September 30, 2017, 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. Going Concern To date, the Company has no revenue from product sales and management expects continuing operating losses and negative cash outflows in the future. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. Management expects to seek additional funds through equity or debt financings or through collaboration, licensing transactions or other sources. The Company may be unable to obtain equity or debt financings or enter into collaboration or licensing transactions. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	3 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 3 – INTANGIBLE ASSETS Intangible assets at December 31, 2017 and September 30, 2017: December 31, September 30, 2017 2017 License Rights $ 17,712,991 $ 17,712,991 Patent Costs 200,000 200,000 17,912,991 17,912,991 Accumulated Amortization (4,107,507 ) (3,825,389 ) Total Intangible Assets $ 13,805,484 $ 14,087,602 During the three month period ended December 31, 2017, the Company recognized $282,118 in amortization expense on the patents and license rights.

NOTES PAYABLE

NOTES PAYABLE	3 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTE 4 – NOTES PAYABLE 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 7.5% per annum. As of December 31, 2017, the Company had repaid the note in full in the amount of $261,326 of principal and had paid total interest of $9,067.

EQUITY

EQUITY	3 Months Ended
	Dec. 31, 2017
Equity [Abstract]
EQUITY	NOTE 5 – EQUITY Common Stock Warrants In December 2017, 225,000 shares of common stock were issued in connection with the exercise of warrants issued and sold to various purchasers as part of a registered offering that closed on April 10, 2017. The warrants were exercised at a price of $1.00 per share, and $225,000 in cash was received during the quarter ended December 31, 2017. Below is a table summarizing the warrants issued and outstanding as of December 31, 2017 (“Price” reflects the weighted average exercise price per share): Warrants Price Outstanding at September 30, 2017 16,178,110 $ 1.23 Granted Investor warrants — — Stock-based compensation warrants 250,000 1.00 Exercised Investor warrants (225,000 ) 1.00 Stock-based compensation warrants — — Forfeited or expired Investor warrants — — Stock-based compensation warrants — — Outstanding at December 31, 2017 16,203,110 $ 1.23 Exercisable at December 31, 2017 16,078,108 $ 1.23 As of December 31, 2017, the warrants have a weighted average remaining term of 4.19 years and have an intrinsic value of $12,212,051. 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. The Company uses the Black-Scholes pricing model for determining the fair value of stock options and warrants granted as share based compensation. The following assumptions were used to calculate the fair value of the Company's warrants and options issued during the three months ended December 31, 2017: Warrants Options Expected term 2 years 3.25 to 5 years Expected volatility 73% 101% Expected dividends 0% 0% Risk-free rates 1.73% 1.68% Warrants. During the three month period ended December 31, 2017, the Company recognized $152,192 of expense related to warrants granted as stock based compensation. Unamortized expense as of December 31, 2017 for outstanding warrants issued as stock based compensation amounted to $73,569. Refer to the Common Stock Warrants table within this note for information regarding all outstanding warrants. Options. During the three month period ended December 31, 2017, the Company recognized $477,094 of expense related to options granted. Unamortized option expense as of December 31, 2017 for all options outstanding amounted to $599,557. The Company expects to recognize this compensation cost over a weighted-average period of 1.48 years. Below is a table summarizing the Company’s activity for the three month period ended December 31, 2017 (“Price” reflects the weighted average exercise price per share): Options Price Outstanding at September 30, 2017 2,250,500 $ 5.58 Granted 1,640,000 $ 0.67 Exercised — — Forfeited or expired (210,666 ) $ 6.38 Outstanding at December 31, 2017 3,679,834 $ 3.34 Exercisable at December 31, 2017 2,174,576 $ 4.51 As of December 31, 2017, the outstanding options have a weighted average remaining term of 4.25 years and an intrinsic value of $2,532,800. Restricted Stock. Below is a table summarizing the Company’s activity for the three months ended December 31, 2017: Shares Weighted Average Grant Date Fair Value Nonvested at September 30, 2017 270,179 $ 4.53 Granted — — Vested — — Forfeited — — Nonvested at December 31, 2017 270,179 $ 4.53

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Dec. 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. On February 14, 2018, plaintiff, Jeevesh Khanna, commenced an action in the Southern District of New York, alleging that several current and former officers violated federal securities laws between June 24, 2014 and January 4, 2018. The plaintiffs did not quantify any alleged damages in their complaint but, in addition to attorneys' fees and costs, they seek to recover damages on behalf of themselves and other persons who purchased or otherwise acquired our stock during the putative class period and purportedly suffered financial harm as a result. We dispute these claims and intend to defend the matter vigorously. Severance Pay As of December 31, 2017, the Company agreed to pay a former director severance pay in the amount of $250,000 over a five year period. The non-current portion of the liability is reported as long-term liability in the amount of $150,000 in the consolidated balance sheets.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 – RELATED PARTY TRANSACTION The Contract Research Organization (“CRO”) that ran our clinical trial 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 three months ended December 31, 2017, and 2016, the Company’s CRO was invoiced or accrued $731,832 and $152,405 from DARC.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS On January 5, 2018, the Company reported topline data from the MAKO study which did not meet its primary efficacy endpoint. The MAKO study evaluated the efficacy and safety of topically administered squalamine in combination with monthly Lucentis® injections for the treatment of wet age-related macular degeneration (“wet-AMD”). The primary efficacy endpoint was the mean visual acuity gain at nine months, using a mixed-effects model for repeated measures (MMRM) analysis. Subjects receiving squalamine combination therapy (n=119) achieved a mean gain of 8.33 letters from baseline versus 10.58 letters from baseline with Lucentis® monotherapy (n=118). There were no differences in the safety profile between the two treatment groups. Based on these results, we have discontinued further development of squalamine and are evaluating strategic alternatives to maximize shareholder value.

SUMMARY OF SIGNIFICANT ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN (Policies)	3 Months Ended
	Dec. 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 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 December 31, 2017 and September 30, 2017, 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.
Going Concern	Going Concern To date, the Company has no revenue from product sales and management expects continuing operating losses and negative cash outflows in the future. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. Management expects to seek additional funds through equity or debt financings or through collaboration, licensing transactions or other sources. The Company may be unable to obtain equity or debt financings or enter into collaboration or licensing transactions. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	3 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Intangible assets at December 31, 2017 and September 30, 2017: December 31, September 30, 2017 2017 License Rights $ 17,712,991 $ 17,712,991 Patent Costs 200,000 200,000 17,912,991 17,912,991 Accumulated Amortization (4,107,507 ) (3,825,389 ) Total Intangible Assets $ 13,805,484 $ 14,087,602

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Schedule of warrants issued and outstanding	Below is a table summarizing the warrants issued and outstanding as of December 31, 2017 (“Price” reflects the weighted average exercise price per share): Warrants Price Outstanding at September 30, 2017 16,178,110 $ 1.23 Granted Investor warrants — — Stock-based compensation warrants 250,000 1.00 Exercised Investor warrants (225,000 ) 1.00 Stock-based compensation warrants — — Forfeited or expired Investor warrants — — Stock-based compensation warrants — — Outstanding at December 31, 2017 16,203,110 $ 1.23 Exercisable at December 31, 2017 16,078,108 $ 1.23
Schedule of assumptions used to calculate the fair value of warrants and options issued	The following assumptions were used to calculate the fair value of the Company's warrants and options issued during the three months ended December 31, 2017: Warrants Options Expected term 2 years 3.25 to 5 years Expected volatility 73% 101% Expected dividends 0% 0% Risk-free rates 1.73% 1.68%
Schedule of stock option activity	Below is a table summarizing the Company’s activity for the three month period ended December 31, 2017 (“Price” reflects the weighted average exercise price per share): Options Price Outstanding at September 30, 2017 2,250,500 $ 5.58 Granted 1,640,000 $ 0.67 Exercised — — Forfeited or expired (210,666 ) $ 6.38 Outstanding at December 31, 2017 3,679,834 $ 3.34 Exercisable at December 31, 2017 2,174,576 $ 4.51
Schedule of restricted stock activity	Below is a table summarizing the Company’s activity for the three months ended December 31, 2017: Shares Weighted Average Grant Date Fair Value Nonvested at September 30, 2017 270,179 $ 4.53 Granted — — Vested — — Forfeited — — Nonvested at December 31, 2017 270,179 $ 4.53

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 282,118	$ 282,699

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	Dec. 31, 2017	Sep. 30, 2017
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	(4,107,507)	(3,825,389)
Total	$ 13,805,484	$ 14,087,602

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	Feb. 28, 2017	Dec. 31, 2017	Dec. 31, 2016
Repayments of debt		$ 106,387	$ 87,798
2017 Financing Arrangement Directors and Officers Insurance [Member]
Debt issuance date	Feb. 28, 2017
Face amount of notes	$ 261,326
Notes payable, interest rate	7.50%
Interest paid		9,067
Repayments of debt		$ 261,326

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Oct. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Intrinsic value of outstanding options		$ 2,532,800
Stock-based compensation expense		629,286	$ 566,573
Grant of stock options	1,640,000
Exercisable percentage	33.00%
One Key Consultant [Member]
Exercise price - stock options	$ .67
Granted - warrants	250,000
Warrant term	2 years
Exercise price of warrants	$ 1
Warrants [Member]
Exercise of warrants for cash		$ 225,000
Exercise of warrants for cash, shares		225,000
Exercised price of warrants		$ 1
Intrinsic value of warrants		$ 12,212,051
Weighted average contractual term - warrants		4 years 2 months 8 days
Granted - warrants		250,000
Restricted Stock [Member]
Stock-based compensation expense		$ 135,701
Unrecognized compensation cost		$ 59,400
Unrecognized compensation cost recognize period		11 days
Stock Option [Member]
Stock-based compensation expense		$ 477,094
Unrecognized compensation cost		$ 599,557
Unrecognized compensation cost recognize period		1 year 5 months 23 days
Weighted average remaining term - options		4 years 3 months
Stock Option [Member] | One Key Consultant [Member]
Grant of stock options	80,000
Exercisable percentage	25.00%
Stock Option [Member] | One Key Consultant [Member] | Milestone 1 [Member]
Forfeitures (shares)		20,000
Options vested		60,000
Stock Option [Member] | One Key Consultant [Member] | Each of October 16, 2018
Exercisable percentage	33.00%
Stock Option [Member] | One Key Consultant [Member] | Each of October 16, 2019
Exercisable percentage	33.00%
Stock Compensation [Member] | Warrants [Member]
Stock-based compensation expense		$ 152,192
Unrecognized compensation cost		$ 73,569

EQUITY (Details)

EQUITY (Details) - Warrants [Member]	3 Months Ended
	Dec. 31, 2017$ / sharesshares
Warrants [Roll Forward]
Outstanding at beginning | shares	16,178,110
Granted - Stock-based compensation warrants | shares	250,000
Exercised - Investor warrants | shares	(225,000)
Outstanding at end | shares	16,203,110
Exercisable at end | shares	16,078,108
Warrants, Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning | $ / shares	$ 1.23
Granted - Stock-based compensation warrants | $ / shares	1
Exercised - Investor warrants | $ / shares	1
Outstanding at end | $ / shares	1.23
Exercisable at end | $ / shares	$ 1.23

EQUITY (Details 1)

EQUITY (Details 1)	3 Months Ended
	Dec. 31, 2017
2016 Stock Plan [Member] | Stock Option [Member]
Expected volatility	101.00%
Expected dividends	0.00%
Risk-free rates	1.68%
2016 Stock Plan [Member] | Stock Option [Member] | Minimum [Member]
Expected term	3 years 3 months
2016 Stock Plan [Member] | Stock Option [Member] | Maximum [Member]
Expected term	5 years
Warrants [Member]
Expected term	2 years
Expected volatility	73.00%
Expected dividends	0.00%
Risk-free rates	1.73%

EQUITY (Details 2)

EQUITY (Details 2) - $ / shares	1 Months Ended	3 Months Ended
	Oct. 31, 2017	Dec. 31, 2017
Options, Outstanding [Roll Forward]
Granted	1,640,000
2016 Stock Plan [Member] | Stock Option [Member]
Options, Outstanding [Roll Forward]
Outstanding, beginning	2,250,500	2,250,500
Granted		1,640,000
Forfeited or expired		(210,666)
Outstanding, ending		3,679,834
Exercisable, ending		2,174,576
Options, Outstanding, Weighted Average Exercise Price [Rollforward]
Exercise price, beginning	$ 5.58	$ 5.58
Granted		.67
Forfeited or expired		6.38
Exercise price, ending		3.34
Exercisable, ended		$ 4.51

EQUITY (Details 3)

EQUITY (Details 3) - 2016 Stock Plan [Member] - Restricted Stock [Member]	3 Months Ended
	Dec. 31, 2017$ / sharesshares
Restricted Stock [Roll Forward]
Outstanding at beginning | shares	270,179
Granted | shares
Outstanding at end | shares	270,179
Restricted Stock, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning | $ / shares	$ 4.53
Granted | $ / shares
Outstanding at end | $ / shares	$ 4.53

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	5 Months Ended
	Sep. 30, 2017	Dec. 31, 2017
Long-term liability	$ 150,000	$ 150,000
Former Director [Member]
Severance payble	$ 250,000
Term of serverance	5 years
Long-term liability	$ 150,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Detail Narratives) - USD ($)	3 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Dr. Jason Slakter [Member]
Amount invoiced for services - related party	$ 731,832	$ 152,405

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member]	Jan. 05, 2018
Mean gain combination therapy (letters)	8.33
Mean gain monotherapy (letters)	10.58