NeuBase Therapeutics (NBSE) 10-Q 14 Aug 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2019	Aug. 14, 2019
Document And Entity Information
Entity Registrant Name	NeuBase Therapeutics, Inc.
Entity Central Index Key	0001173281
Document Type	10-Q
Entity File Number	333-88480
Entity Incorporation, State Code	DE
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity's Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,070,373
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2019	Sep. 30, 2018
CURRENT ASSETS
Cash	$ 1,424,596	$ 3,750,436
Prepaid expenses and other current assets	133,501	247,998
Total Current Assets	1,558,097	3,998,434
EQUIPMENT, net	12,595	15,763
OTHER ASSETS
Intangible assets, net	7,122,218	7,611,918
TOTAL ASSETS	8,692,910	11,626,115
CURRENT LIABILITIES
Accounts payable and accrued expenses	751,701	651,781
Notes payable		73,217
Total Current Liabilities	751,701	724,998
TOTAL LIABILITIES	751,701	724,998
STOCKHOLDERS' EQUITY
Preferred stock, Series B, $0.0001 par value; 6,000,000 shares authorized, 0 shares issued and outstanding as of June 30, 2019 and September 30, 2018
Common stock, $0.0001 par value; 180,000,000 shares authorized, 2,829,248 shares issued and outstanding as of June 30, 2019 and September 30, 2018	283	283
Additional paid-in capital	132,440,080	132,226,341
Accumulated deficit	(124,499,154)	(121,325,507)
Total Stockholders' Equity	7,941,209	10,901,117
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 8,692,910	$ 11,626,115

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2019	Sep. 30, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized	6,000,000	6,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized	180,000,000	180,000,000
Common stock, issued	2,829,248	2,829,248
Common stock, outstanding	2,829,248	2,829,248

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
OPERATING EXPENSES
General and administrative	$ 888,538	$ 834,703	$ 2,463,964	$ 2,935,919
Research and development	82,751	52,630	235,289	4,242,307
Depreciation and amortization	165,647	279,008	496,936	842,519
Loss on impairment of goodwill			740,912	740,912
Gain on settlement of liabilities				(1,228,805)
OPERATING LOSS	1,136,936	1,166,341	3,196,189	7,532,852
OTHER INCOME
Other income		610,383		592,584
Interest income	3,961	10,930	22,542	59,115
Total Other Income	3,961	621,313	22,542	651,699
NET LOSS	$ (1,132,975)	$ (545,028)	$ (3,173,647)	$ (6,881,153)
BASIC AND DILUTED LOSS PER SHARE (in dollars per share)	$ (0.40)	$ (0.19)	$ (1.12)	$ (3.36)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
BASIC AND DILUTED (in shares)	2,829,248	2,823,321	2,829,248	2,045,829

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
OPERATING ACTIVITIES
Net loss	$ (3,173,647)	$ (6,881,153)
Adjustments to reconcile net loss to net cash used by operating activities:
Common stock issued for services		145,301
Stock option and warrant expense	213,739	804,374
Depreciation	7,236	7,877
Amortization of intangible assets	489,701	834,642
Gain on settlement of liabilities		1,228,805
Loss on sale of property and equipment		17,814
Gain on sale of intangible assets		(460,383)
Loss on impairment of goodwill	740,912	740,912
Accounts receivable	(2,800)
Changes in operating assets and liabilities
Prepaid expenses and other current assets	117,297	165,533
Accounts payable and accrued expenses	99,920	(5,499,525)
Net Cash Used in Operating Activities	(2,248,554)	(8,895,803)
INVESTING ACTIVITIES
Purchase of property and equipment	(4,069)
Proceeds from sale of property, equipment and intangible assets		508,078
Net Cash (Used in) Provided by Investing Activities	(4,069)	508,078
FINANCING ACTIVITIES
Proceeds from warrants exercised for cash		270,000
Repayments of short-term notes payable	(73,217)	(247,933)
Net Cash Provided by/ (Used in) Financing Activities	(73,217)	22,067
NET CHANGE IN CASH	(2,325,840)	(8,365,658)
CASH AT BEGINNING OF PERIOD	3,750,436	12,801,085
CASH AT END OF PERIOD	1,424,596	4,435,427
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION CASH PAID FOR:
Interest	779	7,540
Income Taxes
NON CASH FINANCING ACTIVITIES:
Financing of insurance premiums through issuance of short term notes		$ 323,904

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
Balance, beginning at Sep. 30, 2017	$ 282	$ 130,933,290	$ (108,088,607)	$ 22,844,965
Balance, beginning, shares at Sep. 30, 2017	2,815,748
Exercise of warrants for cash	$ 1	224,999		225,000
Exercise of warrants for cash, shares	11,250
Common stock issued for services		135,701		135,701
Fair value of employee stock options		629,286		629,286
Net loss for the year			(4,151,358)	(4,151,358)
Balance, ending at Dec. 31, 2017	$ 283	131,923,276	(112,239,965)	19,683,594
Balance, ending, shares at Dec. 31, 2017	2,826,998
Balance, beginning at Sep. 30, 2017	$ 282	130,933,290	(108,088,607)	22,844,965
Balance, beginning, shares at Sep. 30, 2017	2,815,748
Net loss for the year				(6,881,153)
Balance, ending at Jun. 30, 2018	$ 283	132,152,964	(114,969,760)	17,183,487
Balance, ending, shares at Jun. 30, 2018	2,829,248
Balance, beginning at Dec. 31, 2017	$ 283	131,923,276	(112,239,965)	19,683,594
Balance, beginning, shares at Dec. 31, 2017	2,826,998
Exercise of warrants for cash		45,000		45,000
Exercise of warrants for cash, shares	2,250
Common stock issued for services		9,600		9,600
Fair value of employee stock options		101,711		101,711
Net loss for the year			(2,184,767)	(2,184,767)
Balance, ending at Mar. 31, 2018	$ 283	132,079,587	(114,424,732)	17,655,138
Balance, ending, shares at Mar. 31, 2018	2,829,248
Fair value of employee stock options		73,377		73,377
Net loss for the year			(545,028)	(545,028)
Balance, ending at Jun. 30, 2018	$ 283	132,152,964	(114,969,760)	17,183,487
Balance, ending, shares at Jun. 30, 2018	2,829,248
Balance, beginning at Sep. 30, 2018	$ 283	132,226,341	(121,325,507)	10,901,117
Balance, beginning, shares at Sep. 30, 2018	2,829,248
Fair value of employee stock options		73,377		73,377
Net loss for the year			(897,624)	(897,624)
Balance, ending at Dec. 31, 2018	$ 283	132,299,718	(122,223,131)	10,076,870
Balance, ending, shares at Dec. 31, 2018	2,829,248
Balance, beginning at Sep. 30, 2018	$ 283	132,226,341	(121,325,507)	10,901,117
Balance, beginning, shares at Sep. 30, 2018	2,829,248
Net loss for the year				(3,173,647)
Balance, ending at Jun. 30, 2019	$ 283	132,440,080	(124,499,154)	7,941,209
Balance, ending, shares at Jun. 30, 2019	2,829,248
Balance, beginning at Dec. 31, 2018	$ 283	132,299,718	(122,223,131)	10,076,870
Balance, beginning, shares at Dec. 31, 2018	2,829,248
Fair value of employee stock options		73,377		73,377
Net loss for the year			(1,143,048)	(1,143,048)
Balance, ending at Mar. 31, 2019	$ 283	132,373,095	(123,366,179)	9,007,199
Balance, ending, shares at Mar. 31, 2019	2,829,248
Fair value of employee stock options		66,985		66,985
Net loss for the year			(1,132,975)	(1,132,975)
Balance, ending at Jun. 30, 2019	$ 283	$ 132,440,080	$ (124,499,154)	$ 7,941,209
Balance, ending, shares at Jun. 30, 2019	2,829,248

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE 1 – BASIS OF PRESENTATION AND DESCRIPTION OF BUSINESS The accompanying unaudited consolidated financial statements include the accounts of NeuBase Therapeutics, 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 June 30, 2019, 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, 2018. The results of operations for the three and nine month periods ended June 30, 2019 and 2018 are not necessarily indicative of the operating results for the full years. Merger On July 12, 2019, the Company completed a reverse merger transaction (the “Merger”) with NeuBase Corporation, a Delaware corporation (formerly known as NeuBase Therapeutics, Inc.) (“Legacy NeuBase”). At the closing of the Merger, each outstanding share of Legacy NeuBase’s capital stock was converted into the right to receive 1.019055643 shares of the Company’s common stock. Upon completion of the Merger, the Company changed its name to NeuBase Therapeutics, Inc., and will focus on developing next generation gene silencing therapies to treat rare genetic diseases caused by mutant proteins. Shares of the Company’s common stock commenced trading on the Nasdaq Capital Market under the ticker symbol “NBSE” as of market open on July 15, 2019. The Company’s previous ticker symbol was “OHRP”. The financial information included in the Notes to the Unaudited Consolidated Financial Statements is that of Ohr Pharmaceutical, Inc. prior to the Merger because the Merger was consummated after the period covered by the financial statements included in this Quarterly Report. Accordingly, the historical financial information included in this Quarterly Report, unless otherwise indicated or as the context otherwise requires, is that of Ohr Pharmaceutical, Inc. prior to the Merger. Reverse Stock Split On January 18, 2019, following a special meeting of the Company’s stockholders, the board of directors of the Company approved a one-for-twenty reverse stock split of the Company’s issued and outstanding shares of common stock (the “Reverse Stock Split”). On January 23, 2019, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment to its Certificate of Incorporation to effect the Reverse Stock Split. The Company’s common stock began trading on a split-adjusted basis when the market opened on February 4, 2019. As a result of the Reverse Stock Split, the outstanding common stock has decreased from 56,466,428 shares of common stock, par value $0.0001 per share, to 2,829,248 shares of common stock, par value $0.0001 per share. Unless otherwise noted, impacted amounts and share information included in the financial statements and notes thereto, and elsewhere in this Form 10-Q, have been retroactively adjusted for the Reverse Stock Split as if such Reverse Stock Split occurred on the first day of the first period presented. Certain amounts in the financial statements, the notes thereto, and elsewhere in this Form 10-Q, may be slightly different than previously reported due to rounding of fractional shares as a result of the Reverse Stock Split. Business The Company is a biotechnology company focused on developing next generation gene silencing therapies to treat rare genetic diseases caused by mutant proteins. The type of therapies that the Company is developing are termed antisense oligonucleotide therapies (“ASOs”), which are short single strands of nucleic acids (traditionally thought of as single stranded RNA molecules) which will bind to defective RNA targets in cells and inhibit their ability to be translated into defective proteins that cause disease. The Company is a leader in the discovery and development of the class of ribonucleic acid (“RNA”)-targeted ASO drugs called peptide nucleic acids (“PNAs”). Its proprietary gamma P A T OL The Company is developing several preclinical programs using its PATrOL™ platform, including: NT0100, targeted at Huntington’s Disease, a repeat expansion disorder, and NT0200, targeted at myotonic dystrophy type 1 (DM1). In addition, the emerging pipeline of other assets that target secondary RNA structure allows a unique market advantage across a variety of rare diseases. The Company is subject to risks common to companies in the biotechnology industry including, but not limited to, new technological innovations, protection of proprietary technology, dependence on key personnel, compliance with government regulations and the need to obtain additional financing. Pre-clinical programs currently under development will require significant additional research and development efforts, including extensive pre-clinical and clinical testing and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel infrastructure and extensive compliance-reporting capabilities. There can be no assurance that the Company’s research and development will be successful, that adequate protection for the Company’s intellectual property will be obtained, that any products developed will obtain necessary government regulatory approval or that any approved products will be commercially viable. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will generate significant revenue from product sales. The Company operates in an environment of rapid change in technology and substantial competition from pharmaceutical and biotechnology companies. In addition, the Company is dependent upon the services of its employees and consultants. Liquidity The Company’s independent registered public accounting firm expressed in its report on the Company’s financial statements for the years ended September 30, 2018 and 2017, that there was substantial doubt about the Company’s ability to continue as a going concern. The Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the consolidated financial statements are issued. To date, the Company has no revenue from product sales and management expects continuing operating losses and negative cash outflows in the future. 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. Alongside the closing of the Merger, NeuBase completed two financings raising gross proceeds of approximately $14 million, and we believe that our current cash balance will be sufficient to fund our operating expenses and capital expenditure requirements for at least the next 12 months from issuance of the financial statements as of, and for the period ended, June 30, 2019. Accordingly, based on management’s plans and the significant capital raised in connection with the Merger in July 2019, that substantial doubt has been resolved.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN	9 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 and fair value of liabilities. Impairment of Long-Lived Assets Long-lived tangible assets and definite-lived intangible assets are reviewed for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company uses an estimate of undiscounted future net cash flows of the assets over the remaining useful lives in determining whether the carrying value of the assets is recoverable. If the carrying values of the assets exceed the expected future cash flows of the assets, the Company recognizes an impairment loss equal to the difference between the carrying values of the assets and their estimated fair values. Impairment of long-lived assets is assessed at the lowest levels for which there are identifiable cash flows that are independent from other groups of assets. The evaluation of long-lived assets requires the Company to use estimates of future cash flows. However, actual cash flows may differ from the estimated future cash flows used in these impairment tests. Fair Value of Financial Instruments In accordance with ASC 820, the carrying value of cash and cash equivalents and accounts 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. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. There were no financial instruments required to be measured at fair value on a recurring basis as of September 30, 2018 and June 30, 2019. Goodwill and Intangibles The Company evaluates goodwill and other finite-lived intangible assets in accordance with FASB ASC Topic 350, “Intangibles Goodwill and Other.” The Company performs its annual impairment review of goodwill in September of each fiscal year, and when a triggering event occurs between annual impairment tests for both goodwill and other finite-lived intangible assets. During the year ended September 30, 2018, the Company determined that due to the reduced price of the Company’s common stock and the market capitalization of the Company relative to the value of the intangible assets and goodwill, an impairment analysis was required for the intangible assets and goodwill. The Company performed the tests and concluded that the intangible assets were impaired and recorded a loss of $5,313,640, and wrote off the $740,912 goodwill balance. The Company’s finite-lived intangible assets consist of license rights and patents. The Company amortizes its patents over the life of each patent and license rights over the remaining life of the patents that it has rights for. During the three months and nine months ended June 30, 2019, the Company recognized $163,234 and $489,701 respectively in amortization expense on the patents and license rights. Research and Development Research and development expenses are expensed in the consolidated statements of operations as incurred in accordance with FASB ASC 730, Research and Development. Share-Based Compensation The Company follows the provisions of ASC 718, “Share-Based Payments” which requires all share-based payments to employees, including grants of employee stock options, be recognized in the income statement based on their fair values. The Company uses the Black Scholes pricing model for determining the fair value of stock options and the stock price on the date of issuance to determine the fair value of restricted stock awards. In accordance with ASC 505, equity instruments issued to non-employees for goods or services are accounted for at fair value and are marked to market until service is complete or a performance commitment date is reached, whichever is earlier. Stock-based compensation expense is recognized in the Company’s financial statements on a straight-line basis over the awards’ vesting periods. The stock-based compensation awards generally vest over a period of up to ten years. Loss Per Share Basic loss per common share is computed by dividing losses attributable to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted loss per common share is computed by dividing losses attributable to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options and warrants. For the nine months ended June 30, 2019, there were no potentially dilutive securities (warrants or options). 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	9 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 3 – INTANGIBLE ASSETS Intangible assets at June 30, 2019 and September 30, 2018: June 30, 2019 September 30, 2018 License Rights $ 17,712,991 $ 17,712,991 Patent Costs 100,000 100,000 17,812,991 17,812,991 Accumulated Amortization and impairment (10,690,773 ) (10,201,073 ) Total Intangible Assets $ 7,122,218 $ 7,611,918 During the three and nine month periods ended June 30, 2018 the Company recognized $276,667 and $843,642, respectively, in amortization expense on the patents and license rights. During the three and nine month periods ended June 30, 2019 the Company recognized $163,234 and $489,701, respectively, in amortization expense on the patents and license rights.

NOTES PAYABLE

NOTES PAYABLE	9 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTE 4 – NOTES PAYABLE On February 28, 2018, the Company entered into a premium financing arrangement for its directors’ and officers’ insurance policy in the amount of $323,094. The financing arrangement was a short term note, bore interest at a rate of 7.29% per annum, matured on November 28, 2018, and was secured by the underlying insurance policies and rights thereunder. During the nine months ended June 30, 2019, the Company had repaid the remaining $73,217 and recorded interest of $779.

EQUITY

EQUITY	9 Months Ended
	Jun. 30, 2019
Equity [Abstract]
EQUITY	NOTE 5 – EQUITY Common Stock Warrants Below is a table summarizing the warrants issued and outstanding as of June 30, 2019 (“Price” reflects the weighted average exercise price per share): Warrants Price Outstanding at September 30, 2018 805,968 $ 24.39 Granted Investor warrants — — Stock-based compensation warrants — — Exercised Investor warrants — — Stock-based compensation warrants — — Forfeited or expired Investor warrants — — Stock-based compensation warrants (1,028 ) 157.60 Outstanding at June 30, 2019 804,940 $ 24.22 Exercisable at June 30, 2019 804,940 $ 24.22 As of June 30, 2019, the warrants have a weighted average remaining term of 2.70 years and have no intrinsic value. 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. Warrants. Options. Below is a table summarizing the Company’s activity for the nine month period ended June 30, 2019 (“Price” reflects the weighted average exercise price per share): Options Price Outstanding at September 30, 2018 156,625 $ 57.86 Granted — $ — Exercised — $ — Forfeited or expired — $ — Outstanding at June 30, 2019 156,625 $ 57.86 Exercisable at June 30, 2019 124,370 $ 69.40 As of June 30, 2019, the outstanding options have a weighted average remaining term of 3.28 years and no intrinsic value. Restricted Stock.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 – COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company has 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, against Ohr Pharmaceutical, Inc. (“Ohr”) and several current and former officers and directors, alleging that they violated federal securities laws between June 24, 2014 and January 4, 2018. On August 7, 2018, the lead plaintiffs, now George Lehman and Insured Benefit Plans, Inc. filed an amended complaint, stating the class period to be April 8, 2014 through 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 maintain the action as a class action and to recover damages on behalf of themselves and other persons who purchased or otherwise acquired Ohr common stock during the putative class period and purportedly suffered financial harm as a result. Ohr and the individuals dispute these claims and intend to defend the matter vigorously. On September 17, 2018, Ohr filed a motion to dismiss the complaint. On November 13, 2018, plaintiffs filed a motion to strike exhibits appended to the motion to dismiss, which was fully briefed by the parties prior to proceeding on the Defendants’ motion to dismiss. On May 10, 2019, the Court entered an order concluding that it is unable to decide the Plaintiffs’ motion to strike independently of the Defendants’ motion to dismiss and will consider the motions together. Briefing on Defendants’ motion to dismiss has now concluded, and the parties are awaiting further ruling of the Court. This litigation could result in substantial costs and a diversion of management’s resources and attention, which could harm the Company’s business and the value of the Company’s common stock. On May 3, 2018, plaintiff Adele J. Barke, derivatively on behalf of Ohr, commenced an action against certain former directors of the Company, including Michael Ferguson, Orin Hirschman, Thomas M. Riedhammer, June Almenoff and Jason Slakter in the Supreme Court, State of New York, alleging that the action was brought in the right and for the benefit of Ohr seeking to remedy their “breach of fiduciary duties, corporate waste and unjust enrichment that occurred between June 24, 2014 and the present.” It does not quantify any alleged damages. Ohr and the individuals dispute these claims and intend to defend the matter vigorously. Such litigation has been stayed pursuant to a stipulation by the parties, which has been so ordered by the court, pending a decision in the Southern District case on the motion to dismiss, but that status could change. This litigation could result in substantial costs and a diversion of management’s resources and attention, which could harm the Company’s business and the value of the Company’s common stock. Following the filing on March 8, 2019 with the SEC of Ohr’s preliminary joint proxy statement/prospectus, on March 18, 2019, the Gomez Action was filed by an individual shareholder in the United States District Court for the Southern District of New York against Ohr and former members of its board of directors. The plaintiff in the Gomez Action alleges that the preliminary joint proxy/prospectus statement contained false and misleading statements and omitted material information in violation of Section 14(a) of the Exchange Act and SEC Rule 14a-9 promulgated thereunder, and further that the individual defendants are liable for those alleged misstatements and omissions under Section 20(a) of the Exchange Act. On March 19, 2019, the Barke Action was filed in the United States District Court for the Southern District of New York asserting similar Section 14(a) and Section 20(a) claims against former members of Ohr’s board of directors and additionally naming Legacy NeuBase and Ohr Acquisition Corp., but not Ohr, as defendants. On March 20, 2019, the Wheby Action was filed in the United States District Court for District of Delaware asserting similar claims under Section 14(a) and Section 20(a) and naming as defendants Ohr and former members of its board of directors, Legacy NeuBase, and Ohr Acquisition Corp. The complaint in the Wheby action has not been served on, nor was service waived by, any of the named Defendants in that action. On March 20, 2019, the Lowinger Action was filed in the Court of Chancery of the State of Delaware asserting a breach of fiduciary duty claim against former members of Ohr’s board of directors arising out of the same facts and circumstances regarding certain alleged omissions in the preliminary joint proxy/prospectus statement. On April 4, 2019, the Garaygordobil Action was filed in the United States District Court for the Southern District of New York asserting similar Section 14(a) and Section 20(a) claims against Ohr and its board of directors. Each of the Gomez, Barke, Garaygordobil, and Lowinger Actions have been dismissed, and on July 12, 2019, Ohr and Legacy NeuBase consummated the Merger. The sole remaining action seeks, among other things, to rescind the Merger or an award of damages, and an award of attorneys’ and experts’ fees and expenses. Management believes that the likelihood of an adverse decision from the sole remaining action is unlikely; however, the litigation could result in substantial costs and a diversion of management’s resources and attention, which could harm the Company’s business and the value of the Company’s common stock.

RELATED PARTY TRANSACTION

RELATED PARTY TRANSACTION	9 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTION	NOTE 7 – RELATED PARTY TRANSACTION The Contract Research Organization (“CRO”) that ran the Company’s 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, the Company’s former CEO, pursuant to the Company’s 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 nine months ended June 30, 2019, and 2018, the Company’s CRO was paid $0 and $899,001, respectively, for pass through DARC expenses.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS Merger On July 12, 2019, the Company completed the Merger with Legacy NeuBase, pursuant to which Ohr Acquisition Corp. merged with and into Legacy NeuBase, with Legacy NeuBase surviving as the Company’s wholly-owned subsidiary. In connection with the Merger, Legacy NeuBase shareholders, warrantholders, and investors in the Pre-Merger Financing exhanged their Legacy NeuBase shares into an aggregate of 12,694,971 newly issued shares of the Company’s common stock. See Note 1 to the Unaudited Consolidated Financial Statements above for additional information on the Merger. Pre-Merger Financing On July 11, 2019, prior to the completion of the Merger, Legacy NeuBase completed transactions contemplated by certain financing agreements (the “Pre-Merger Financing”) resulting in gross proceeds to Legacy NeuBase of approximately $9.0 million, consisting of (i) a private placement with certain accredited investors, whereby, among other things, Legacy NeuBase issued to such investors shares of Legacy NeuBase common stock for an aggregate purchase price of approximately $8.4 million (the “Legacy NeuBase Equity Financing”) and (ii) the conversion of outstanding convertible notes of Legacy NeuBase with an aggregate principal amount of $600,000 (the “Legacy NeuBase Debt Financing”), which were automatically converted into Legacy NeuBase common stock immediately preceding the closing of the Legacy NeuBase Equity Financing at a conversion price equal to 90% of the purchase price per share of the Legacy NeuBase common stock issued in the Legacy NeuBase Equity Financing. Post-Merger Financing On July 16, 2019, the Company completed a private placement with certain accredited investors for the sale by the Company of an aggregate 1,538,462 shares of the Company’s common stock for aggregate gross proceeds of $5.0 million. Issuances On July 12, 2019, the Company issued options to purchase an aggregate of 2,909,827 shares of common stock to directors, employees, and consultants of the Company. The options have a ten year term, vest over a period of up to four years, and have an exercise price of $5.39. On August 9, 2019, the Company issued 7,692 shares of restricted common stock to a contractor for services to be provided to the Company.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN (Policies)	9 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 and fair value of liabilities.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived tangible assets and definite-lived intangible assets are reviewed for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company uses an estimate of undiscounted future net cash flows of the assets over the remaining useful lives in determining whether the carrying value of the assets is recoverable. If the carrying values of the assets exceed the expected future cash flows of the assets, the Company recognizes an impairment loss equal to the difference between the carrying values of the assets and their estimated fair values. Impairment of long-lived assets is assessed at the lowest levels for which there are identifiable cash flows that are independent from other groups of assets. The evaluation of long-lived assets requires the Company to use estimates of future cash flows. However, actual cash flows may differ from the estimated future cash flows used in these impairment tests.
Fair Value of Financial Instruments	Fair Value of Financial Instruments In accordance with ASC 820, the carrying value of cash and cash equivalents and accounts 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. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. There were no financial instruments required to be measured at fair value on a recurring basis as of September 30, 2018 and June 30, 2019.
Goodwill and Intangibles	Goodwill and Intangibles The Company evaluates goodwill and other finite-lived intangible assets in accordance with FASB ASC Topic 350, “Intangibles Goodwill and Other.” The Company performs its annual impairment review of goodwill in September of each fiscal year, and when a triggering event occurs between annual impairment tests for both goodwill and other finite-lived intangible assets. During the year ended September 30, 2018, the Company determined that due to the reduced price of the Company’s common stock and the market capitalization of the Company relative to the value of the intangible assets and goodwill, an impairment analysis was required for the intangible assets and goodwill. The Company performed the tests and concluded that the intangible assets were impaired and recorded a loss of $5,313,640, and wrote off the $740,912 goodwill balance. The Company’s finite-lived intangible assets consist of license rights and patents. The Company amortizes its patents over the life of each patent and license rights over the remaining life of the patents that it has rights for. During the three months and nine months ended June 30, 2019, the Company recognized $163,234 and $489,701 respectively in amortization expense on the patents and license rights.
Research and Development	Research and Development Research and development expenses are expensed in the consolidated statements of operations as incurred in accordance with FASB ASC 730, Research and Development.
Share-Based Compensation	Share-Based Compensation The Company follows the provisions of ASC 718, “Share-Based Payments” which requires all share-based payments to employees, including grants of employee stock options, be recognized in the income statement based on their fair values. The Company uses the Black Scholes pricing model for determining the fair value of stock options and the stock price on the date of issuance to determine the fair value of restricted stock awards. In accordance with ASC 505, equity instruments issued to non-employees for goods or services are accounted for at fair value and are marked to market until service is complete or a performance commitment date is reached, whichever is earlier. Stock-based compensation expense is recognized in the Company’s financial statements on a straight-line basis over the awards’ vesting periods. The stock-based compensation awards generally vest over a period of up to ten years.
Loss Per Share	Loss Per Share Basic loss per common share is computed by dividing losses attributable to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted loss per common share is computed by dividing losses attributable to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options and warrants. For the nine months ended June 30, 2019, there were no potentially dilutive securities (warrants or options).
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)	9 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Intangible assets at June 30, 2019 and September 30, 2018: June 30, 2019 September 30, 2018 License Rights $ 17,712,991 $ 17,712,991 Patent Costs 100,000 100,000 17,812,991 17,812,991 Accumulated Amortization and impairment (10,690,773 ) (10,201,073 ) Total Intangible Assets $ 7,122,218 $ 7,611,918

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Schedule of warrants issued and outstanding	Below is a table summarizing the warrants issued and outstanding as of June 30, 2019 (“Price” reflects the weighted average exercise price per share): Warrants Price Outstanding at September 30, 2018 805,968 $ 24.39 Granted Investor warrants — — Stock-based compensation warrants — — Exercised Investor warrants — — Stock-based compensation warrants — — Forfeited or expired Investor warrants — — Stock-based compensation warrants (1,028 ) 157.60 Outstanding at June 30, 2019 804,940 $ 24.22 Exercisable at June 30, 2019 804,940 $ 24.22
Schedule of stock option activity	Below is a table summarizing the Company’s activity for the nine month period ended June 30, 2019 (“Price” reflects the weighted average exercise price per share): Options Price Outstanding at September 30, 2018 156,625 $ 57.86 Granted — $ — Exercised — $ — Forfeited or expired — $ — Outstanding at June 30, 2019 156,625 $ 57.86 Exercisable at June 30, 2019 124,370 $ 69.40

BASIS OF PRESENTATION AND DESCR

BASIS OF PRESENTATION AND DESCRIPTION OF BUSINESS (Details Narrative) - $ / shares	9 Months Ended
	Jun. 30, 2019	Jul. 12, 2019	Jan. 18, 2019	Sep. 30, 2018
Common stock, issued	2,829,248		56,466,428	2,829,248
Common stock, par value (in dollars per share)	$ 0.0001		$ 0.0001	$ 0.0001
Financing Agreements [Member] | NeuBase Therapeutics, Inc [Member]
Discription of ownership hold	Alongside the closing of the Merger, NeuBase completed two financings raising gross proceeds of approximately $14 million, and we believe that our current cash balance will be sufficient to fund our operating expenses and capital expenditure requirements for at least the next 12 months from issuance of the financial statements as of, and for the period ended, June 30, 2019.
Common stock, issued		1.019055643

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accounting Policies [Abstract]
Loss on Impairment of intangible asset			$ 5,313,640
Impairment of goodwill			740,912	$ 740,912
Amortization expense	$ 163,234	$ 276,667	489,701	834,642
Research and development expenses	$ 82,751	$ 52,630	$ 235,289	$ 4,242,307
Vesting term			10 years
Potentially dilutive (warrants and options) excluded from computation diluted loss per share			0

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	Jun. 30, 2019	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
License Rights	$ 17,712,991	$ 17,712,991
Patent Costs	100,000	100,000
Total Intangible Assets,Gross	17,812,991	17,812,991
Accumulated Amortization and impairment	(10,690,773)	(10,201,073)
Total Intangible Assets	$ 7,122,218	$ 7,611,918

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 163,234	$ 276,667	$ 489,701	$ 834,642

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	Feb. 28, 2018	Jun. 30, 2019	Jun. 30, 2018
Repayments of debt		$ 73,217	$ 247,933
2018 Financing Arrangement Directors and Officers Insurance [Member]
Debt issuance date	Feb. 28, 2018
Face amount of notes	$ 323,094
Notes payable, interest rate	7.29%
Interest expense		779
Maturity date	Nov. 28, 2018
Repayments of debt		$ 73,217

EQUITY (Details)

EQUITY (Details) - Warrants [Member]	9 Months Ended
	Jun. 30, 2019$ / sharesshares
Warrants [Roll Forward]
Outstanding at beginning | shares	805,968
Granted - Stock-based compensation warrants | shares	0
Forfeited or expired - Stock-based compensation warrants | shares	(1,028)
Outstanding at end | shares	804,940
Exercisable at end | shares	804,940
Warrants, Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning | $ / shares	$ 24.39
Granted - Stock-based compensation warrants | $ / shares	0
Forfeited or expired - Stock-based compensation warrants | $ / shares	157.60
Outstanding at end | $ / shares	24.22
Exercisable at end | $ / shares	$ 24.22

EQUITY (Details 1)

EQUITY (Details 1) - 2016 Stock Plan [Member] - Stock Option [Member]	9 Months Ended
	Jun. 30, 2019$ / sharesshares
Options, Outstanding [Roll Forward]
Outstanding, beginning | shares	156,625
Granted | shares	0
Outstanding, ending | shares	156,625
Exercisable, ending | shares	124,370
Options, Outstanding, Weighted Average Exercise Price [Rollforward]
Exercise price, beginning | $ / shares	$ 57.86
Granted | $ / shares	0
Exercise price, ending | $ / shares	57.86
Exercisable, ended | $ / shares	$ 69.40

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Stock-based compensation expense	$ 213,739	$ 804,374
Warrants [Member]
Intrinsic value of warrants	$ 0
Weighted average contractual term - warrants	3 years 3 months 11 days
Stock Option [Member]
Intrinsic value of outstanding options	$ 0
Stock-based compensation expense	213,739
Unrecognized compensation cost	$ 72,268
Unrecognized compensation cost recognize period	5 months 16 days
Weighted average contractual term - warrants	22 years
Weighted average remaining term - options	2 years 8 months 12 days
Restricted Stock [Member]
Stock-based compensation expense	$ 0
Stock Compensation [Member] | Warrants [Member]
Stock-based compensation expense	$ 0

RELATED PARTY TRANSACTION (Deta

RELATED PARTY TRANSACTION (Details Narratives) - USD ($)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Dr. Jason Slakter [Member]
Amount paid for services - related party	$ 0	$ 899,001

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Aug. 09, 2019	Jul. 16, 2019	Jul. 12, 2019	Jul. 11, 2019	Jun. 30, 2019
Vesting term					10 years
Subsequent Event [Member]
Issuance restricted stock for services	7,692
Subsequent Event [Member] | Stock Option [Member]
Stock options granted			2,909,827
Vesting term			4 years
Option terms			10 years
Exercise price			$ 5.39
Subsequent Event [Member] | Pre-Merger Financing [Member]
Proceeds from businesses				$ 9,000,000
Subsequent Event [Member] | Pre-Merger Financing [Member] | Private Placement [Member]
Number of shares issued in transaction		1,538,462
Proceeds from private placement		$ 5,000,000
Subsequent Event [Member] | Pre-Merger Financing [Member] | Private Placement [Member] | Accredited Investors [Member]
Proceeds from issuance of common stock				8,400,000
Subsequent Event [Member] | Pre-Merger Financing [Member] | Private Placement [Member] | Accredited Investors [Member] | Legacy NeuBase Debt Financing [Member]
Principal amount				$ 600,000