Altimmune (ALT) 10-Q 13 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 13, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	ALT
Entity Registrant Name	Altimmune, Inc.
Entity Central Index Key	0001326190
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		15,526,887
Entity File Number	001-32587
Entity Tax Identification Number	20-2726770
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	910 Clopper Road
Entity Address, Address Line Two	Suite 201S
Entity Address, City or Town	Gaithersburg
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20878
City Area Code	(240)
Local Phone Number	654-1450
Title of 12(b) Security	Common stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 11,275,214	$ 8,962,686
Restricted cash	34,174	34,174
Total cash, cash equivalents and restricted cash	11,309,388	8,996,860
Short-term investments	21,644,214	28,277,386
Accounts receivable	1,994,736	1,021,179
Tax refund receivable	3,989,728	629,096
Prepaid expenses and other current assets	698,905	470,228
Total current assets	39,636,971	39,394,749
Property and equipment, net	1,062,834	1,104,208
Right of use asset	680,826	698,321
Intangible assets, net	12,737,735	12,732,195
Other assets	114,764	128,547
Total assets	54,233,130	54,058,020
Current liabilities:
Accounts payable	929,629	18,232
Accrued expenses and other current liabilities	5,115,694	3,904,767
Total current liabilities	6,045,323	3,922,999
Contingent consideration	4,500,000	2,750,000
Other long-term liabilities	1,791,190	1,864,875
Total liabilities	12,336,513	8,537,874
Commitments and contingencies (Note 13)
Stockholders’ equity:
Common stock, $0.0001 par value; 200,000,000 shares authorized; 15,359,644 and 15,312,381 shares issued; 15,359,502 and 15,312,167 shares outstanding at March 31, 2020 and December 31, 2019, respectively	1,514	1,508
Additional paid-in capital	188,209,465	187,914,916
Accumulated deficit	(141,261,771)	(137,376,122)
Accumulated other comprehensive loss, net	(5,052,591)	(5,020,156)
Total stockholders’ equity	41,896,617	45,520,146
Total liabilities and stockholders’ equity	$ 54,233,130	$ 54,058,020

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Common stock, par or stated value per share	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	15,359,644	15,312,381
Common stock, shares outstanding	15,359,502	15,312,167

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 2,212,694	$ 2,955,592
Operating expenses:
Research and development	7,187,531	3,217,671
General and administrative	2,331,917	2,066,482
Total operating expenses	9,519,448	5,284,153
Loss from operations	(7,306,754)	(2,328,561)
Other income (expense):
Interest expense	(1,885)	(740)
Interest income	151,569	185,246
Other income, net	25,542	46,749
Total other income, net	175,226	231,255
Net loss before income tax benefit	(7,131,528)	(2,097,306)
Income tax benefit	3,245,879
Net loss	(3,885,649)	(2,097,306)
Other comprehensive loss – unrealized loss on investments	(32,435)
Comprehensive loss	(3,918,084)	(2,097,306)
Net loss	(3,885,649)	(2,097,306)
Deemed dividends		(452,925)
Net loss attributed to common stockholders	$ (3,885,649)	$ (2,550,231)
Weighted-average common shares outstanding, basic and diluted	15,110,585	9,489,765
Net loss per share attributed to common stockholders, basic and diluted	$ (0.26)	$ (0.27)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]
Beginning Balance at Dec. 31, 2018	$ 48,312,566	$ 876	$ 170,207,844	$ (116,855,991)	$ (5,040,163)
Beginning Balance (in shares) at Dec. 31, 2018		9,078,239
Stock based compensation	407,714		407,714
Vesting of restricted stock awards including withholding, net	28		28
Vesting of restricted stock awards including withholding, net (in shares)		71
Issuance of common stock in registered direct offering, net of offering costs	12,668,784	$ 436	12,668,348
Issuance of common stock in registered direct offering, net of offering costs (in shares)		4,361,370
Issuance of common stock upon exercise of warrants	30,324	$ 1	30,323
Issuance of common stock upon exercise of warrants (in shares)		11,000
Net loss	(2,097,306)			(2,097,306)
Ending Balance at Mar. 31, 2019	59,322,110	$ 1,313	183,314,257	(118,953,297)	(5,040,163)
Ending Balance (in shares) at Mar. 31, 2019		13,450,680
Beginning Balance at Dec. 31, 2019	45,520,146	$ 1,508	187,914,916	(137,376,122)	(5,020,156)
Beginning Balance (in shares) at Dec. 31, 2019		15,312,167
Stock based compensation	214,921		214,921
Vesting of restricted stock awards including withholding, net	(17,079)	$ 1	(17,080)
Vesting of restricted stock awards including withholding, net (in shares)		(5,974)
Issuance of common stock from Employee Stock Purchase Plan	56,739	$ 3	56,736
Issuance of common stock from Employee Stock Purchase Plan (in shares)		38,809
Issuance of common stock upon exercise of warrants	39,974	$ 2	39,972
Issuance of common stock upon exercise of warrants (in shares)		14,500
Unrealized loss on short-term investments	(32,435)				(32,435)
Net loss	(3,885,649)			(3,885,649)
Ending Balance at Mar. 31, 2020	$ 41,896,617	$ 1,514	$ 188,209,465	$ (141,261,771)	$ (5,052,591)
Ending Balance (in shares) at Mar. 31, 2020		15,359,502

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,885,649)	$ (2,097,306)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in value of contingent consideration for acquired in-process research and development	1,750,000
Stock-based compensation	214,921	407,714
Depreciation	59,505	61,277
Amortization	13,851	92,744
Unrealized losses (gains) on foreign currency exchange	24,939	(46,081)
Changes in operating assets and liabilities:
Accounts receivable	(973,557)	555,808
Prepaid expenses and other current assets	(214,893)	55,928
Accounts payable	911,397	(358,107)
Accrued expenses and other current liabilities	1,175,988	(699,942)
Deferred revenue	(18,885)	17,176
Lease obligation	(44,385)	(44,202)
Tax refund receivable	(3,360,633)	(57,896)
Net cash used in operating activities	(4,347,401)	(2,112,887)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales and maturities of short-term investments	13,700,000
Purchases of short-term investments	(7,099,263)
Purchase of property and equipment	(18,131)	(1,226)
Cash paid for internally developed patents	(19,390)	(3,020)
Net cash provided by (used in) investing activities	6,563,216	(4,246)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common units, net of issuance costs		12,668,784
Proceeds from issuance of common stock from Employee Stock Purchase Plan	56,739
Proceeds from exercises of warrants	39,974	30,324
Net cash provided by financing activities	96,713	12,699,108
Net increase in cash and cash equivalents and restricted cash	2,312,528	10,581,975
Cash, cash equivalents and restricted cash, beginning of period	8,996,860	34,353,129
Cash, cash equivalents and restricted cash, end of period	$ 11,309,388	$ 44,935,104

Nature of Business and Basis of

Nature of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Nature of Business and Basis of Presentation	1. Nature of Business and Basis of Presentation Nature of Business Altimmune, Inc., headquartered in Gaithersburg, Maryland, together with its subsidiaries (collectively, the “Company” or “Altimmune”) is a clinical stage biopharmaceutical company incorporated under the laws of the State of Delaware. The Company is focused on developing treatments for liver disease, immune modulating therapies and vaccines. Our diverse pipeline of product candidates includes next generation peptide therapeutics for non-alcoholic steatohepatitis (“NASH “) (ALT-801) and chronic hepatitis B (HepTcell), conjugated immunostimulants for the treatment of cancer (ALT-702) and intranasal vaccines (NasoVAX, NasoShield, and AdCOVID). Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, and raising capital, and has financed its operations through the issuance of common and preferred stock, long-term debt, and proceeds from research grants and government contracts. The Company has not generated any revenues from the sale of any products to date, and there is no assurance of any future revenues from product sales. The accompanying unaudited consolidated financial statements are prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States for complete consolidated financial statements and should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2019 included in the annual report on Form 10-K which was filed with the SEC on March 27, 2020. In the opinion of management, the Company has prepared the accompanying unaudited consolidated financial statements on the same basis as the audited consolidated financial statements, and these consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results of the interim periods presented. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full year 2020 or any future years or periods. Basis of presentation The unaudited consolidated financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities in the ordinary course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets and liabilities that might be necessary should we be unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies During the three months ended March 31, 2020, there have been no significant changes to the Company’s summary of significant accounting policies contained in the Company’s Annual report on Form 10-K for the year ended December 31, 2019 as filed with the SEC, except for the recently adopted accounting standard for investments. Recently Issued Accounting Pronouncements - Adopted In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2018-13, Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

Contingent Consideration

Contingent Consideration	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Contingent consideration	3. Contingent consideration The Company entered into a definitive agreement to acquire all of the equity interests of Spitfire Pharma, Inc. (“Spitfire”) on July 8, 2019. Spitfire was a privately held, preclinical pharmaceutical company developing a novel dual GLP-1/glucagon receptor agonist for the treatment of non-alcoholic steatohepatitis. The transaction closed on July 12, 2019. The Company issued 1,887,250 unregistered shares of its common stock (the “shares”) as upfront consideration to certain former securityholders of Spitfire (collectively, the “Spitfire Equityholders”), representing an amount equal to $5,000,000 less working capital and transaction expense adjustment amounts as defined in the agreement. The Merger Agreement also includes future contingent payments up to $88,000,000 in cash and shares of the Company’s common stock as follows (each, a “Milestone Event”): • a one-time payment of $5.0 million (the “IND Milestone Consideration Amount”) within sixty days of the submission of an Investigational New Drug Application (“IND”) to the United States Food and Drug Administration (the “FDA”) or other applicable governmental authority in a foreign jurisdiction, which IND has not been rejected or placed on clinical hold by the FDA or such applicable foreign governmental authority within time specified in the Merger Agreement; plus • a one-time payment of $3.0 million (together with the IND Milestone Consideration Amount, the “Regulatory Milestones”) within sixty days of the initiation of a Phase 2 clinical trial of a product candidate anywhere in the world; plus • payments of up to $80.0 million upon the achievement of specified worldwide net sales (the “Sales Milestones”) of all products developed using the technology acquired in the License Agreement within ten years following the approval of a new drug application filed with the FDA. The future contingent payments related to the Regulatory Milestones are stock-based payments accounted for under FASB Accounting Standards Codification Topic 480, Distinguishing Liabilities From Equity The future contingent payments related to the Sales Milestones are predominately cash-based payments accounted for under FASB Accounting Standards Codification Topic 450, Contingencies

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Net Loss Per Share	4. Net Loss Per Share Because the Company has reported a net loss attributable to common stockholders for all periods presented, basic and diluted net loss per share attributable to common stockholders are the same for all periods presented. For periods presented, all unvested restricted stock, common stock warrants, and stock options have been excluded from the computation of diluted weighted-average shares outstanding because such securities would have an antidilutive impact. Potential common shares issuable upon conversion, vesting or exercise of unvested restricted stock, common stock warrants, and stock options that are excluded from the computation of diluted weighted-average shares outstanding are as follows: For the Three Months Ended For the Three Months Ended March 31, 2020 March 31, 2019 Common stock warrants 10,370,206 10,386,256 Common stock options 1,423,612 900,869 Restricted stock 215,413 323,333

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets The Company’s intangible assets consisted of the following: March 31, 2020 Estimated Useful Lives Gross Carrying Value Accumulated Amortization Net Book Value Internally developed patents 6-10 years $ 765,703 $ (458,778 ) $ 306,925 Acquired licenses 16-20 years 285,000 (273,157 ) 11,843 Total intangible assets subject to amortization 1,050,703 (731,935 ) 318,768 IPR&D assets Indefinite 12,418,967 — 12,418,967 Total $ 13,469,670 $ (731,935 ) $ 12,737,735 December 31, 2019 Estimated Useful Lives Gross Carrying Value Accumulated Amortization Net Book Value Internally developed patents 6-10 years $ 746,323 $ (448,874 ) $ 297,449 Acquired licenses 16-20 years 285,000 (269,221 ) 15,779 Total intangible assets subject to amortization 1,031,323 (718,095 ) 313,228 IPR&D assets Indefinite 12,418,967 — 12,418,967 Total $ 13,450,290 $ (718,095 ) $ 12,732,195 Amortization expense of intangible assets subject to amortization was $13,851 and $92,744 for the three months ended March 31, 2020 and 2019. Amortization expense was classified as research and development expenses in the accompanying unaudited consolidated statements of operations and comprehensive loss. As of March 31, 2020, future estimated amortization expense was as follows: Years ending December 31, The remainder of 2020 $ 31,452 2021 26,147 2022 26,147 2023 26,147 2024 22,241 2025 and thereafter 186,634 Total $ 318,768

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2020
Payables And Accruals [Abstract]
Accrued Expenses	6. Accrued Expenses Accrued expenses and other current liabilities consist of the following: March 31, 2020 December 31, 2019 Accrued professional services $ 699,154 $ 429,467 Accrued payroll and employee benefits 595,884 1,183,130 Accrued interest 6,933 5,047 Accrued research and development 3,499,817 1,966,111 Lease obligation, current portion (see Note 11) 266,278 259,449 Deferred revenue 47,628 61,563 Total accrued expenses $ 5,115,694 $ 3,904,767

Other Long-Term Liabilities

Other Long-Term Liabilities	3 Months Ended
	Mar. 31, 2020
Other Liabilities Disclosure [Abstract]
Other Long-Term Liabilities	7. Other Long-Term Liabilities The Company’s other long-term liabilities are summarized as follows: March 31, 2020 December 31, 2019 Lease obligation, long-term portion (see Note 11) $ 1,415,970 $ 1,484,679 Common stock warrant liability (see Note 9) 10,000 10,000 Economic conditional grants 250,000 250,000 Other 115,220 120,196 Total other long-term liabilities $ 1,791,190 $ 1,864,875

At-the-Market Offering

At-the-Market Offering	3 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
At-the-Market Offering	8. At-the-Market Offering O n March 27, 2020, the Company entered into an Equity Distribution Agreement (the “Agreement”) with JMP Securities LLC, serving as placement agent (the “Placement Agent”) with respect to an at-the-market offering program under which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, par value $0.0001 per share (the “Common Stock”), having an aggregate offering price of up to $50.0 million (the “Shares”) through the Placement Agent (the “Offering”). Any Shares offered and sold in the Offering will be issued pursuant to the Company’s Registration Statement on Form S-3 filed with the Securities and Exchange Commission (the “SEC”) on April 4, 2019, which was declared effective on April 12, 2019, the prospectus supplement relating to the Offering filed with the SEC on March 27, 2020 and any applicable additional prospectus supplements related to the Offering that form a part of the Registration Statement. The aggregate market value of Shares eligible for sale in the Offering and under the Equity Distribution Agreement will be subject to the limitations of General Instruction I.B.6 of Form S-3, to the extent required under such instruction. The Company is only offering Shares having an aggregate offering price of $18.9 million pursuant to the prospectus supplement filed with the SEC on March 27, 2020. The Company will be required to file another prospectus supplement in the event it determines to offer more than $18.9 million of Shares in accordance with the terms of the Agreement, to the extent then permitted under General Instruction I.B.6 of Form S-3. From April 8, 2020 through May 13, 2020, the Company sold 164,900 shares of Common Stock under the Equity Distribution Agreement resulting in $0.6 million in net proceeds, leaving $18.3 million available to be sold under the current prospectus supplement.

Warrants

Warrants	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Warrants	9. Warrants A summary of warrant activity during the three months ended March 31, 2020 is as follows: Warrants outstanding, January 1, 2020 10,384,706 Exercises and conversions (14,500 ) Warrants outstanding, March 31, 2020 10,370,206 For warrants classified as a liability, the following is a summary of the periodic changes in their fair value during the three months ended March 31, 2020: Balance, January 1, 2020 $ 10,000 Changes in fair value — Balance, March 31, 2020 $ 10,000

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	10. Stock-Based Compensation Stock Options The Company’s stock option awards generally vest over four years and typically have a contractual life of ten years. At March 31, 2020, there was $1,802,811 of unrecognized compensation cost related to stock options, which is expected to be recognized over a weighted-average period of 3.28 years. During the three months ended March 31, 2020, the Company granted 450,500 stock options with a weighted average exercise price of $1.92 and per share weighted average grant date fair value of $1.51. Information related to stock options outstanding at March 31, 2020 is as follows: Number of Stock Options Weighted- average Exercise Price Weighted- average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding 1,423,612 $ 3.59 5.96 $ 940,809 Exercisable 377,757 $ 6.19 5.61 $ 136,786 Unvested 1,045,855 $ 2.65 6.08 $ 804,022 Restricted Stock At March 31, 2020, the Company had unvested restricted stock of 215,413 shares with total unrecognized compensation expense of $771,291, which the Company expects to recognize over a weighted average period of approximately 2.67 years. During the three months ended March 31, 2020, the Company released 20,253 shares of common stock from restriction as a result of the vesting of restricted stock. 2019 Employee Stock Purchase Plan Under the Employee Stock Purchase Plan (“ESPP”), employees purchased 38,809 shares for $56,739 during the three months ended March 31, 2020. During the three months ended March 31, 2020, the Company recognized compensation expense of $14,712. Stock-based compensation expense Stock-based compensation expense is classified in the unaudited consolidated statements of operations and comprehensive loss for the three months ended March 31, 2020 and 2019 as follows: For the Three Months Ended March 31, 2020 2019 Research and development $ 29,000 $ 76,624 General and administrative 185,921 331,090 Total $ 214,921 $ 407,714

Operating Leases

Operating Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Operating Leases	11. Operating Leases The Company rents office and laboratory space in the United States. The Company also leases office equipment under a non-cancellable equipment lease through December 2022. Rent expense during the three months ended March 31, 2020 under all of the Company’s operating leases was $87,599, which includes short-term leases and variable lease costs not included in the lease obligation. Short-term leases are leases having a term of twelve months or less. The Company recognizes short-term leases on a straight-line basis and does not record a related lease asset or liability for such leases. The office space lease provides for increases in future minimum annual rental payments as defined in the lease agreements. The Company has determined the lease renewal option is not reasonably certain. The cash paid for operating lease liabilities for the three months ended March 31, 2020 was $61,880. Supplemental other information related to the operating leases balance sheet information is as follows: March 31, 2020 Operating lease obligations $ 1,682,248 Operating lease right-of-use assets $ 680,826 Weighted-average remaining lease term 5.08 Weighted-average discount rate 8.0 % Maturities of lease liabilities is as follows: Year ending December 31, The remainder of 2020 $ 291,366 2021 $ 393,542 2022 $ 400,198 2023 $ 407,054 2024 $ 414,116 2025 and thereafter $ 138,831 Total lease payments 2,045,107 Less imputed interest (362,859 ) Total $ 1,682,248

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes In response to global pandemic associated with COVID-19, President Donald Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020. The CARES Act provided both stimulus measures and a number of tax provisions, including: temporary changes regarding the utilization and carry back of net operating losses, temporary changes to the prior and future limitations on interest deductions, technical corrections from prior tax legislation for tax depreciation of qualified improvement property, and certain refundable employee retention credits. As of March 31, 2020, the Company intends to file a refund claim of $2,890,348 with the Internal Revenue Service reflecting a partial refund of its 2016 tax liability by carrying back its 2019 and 2018 losses not previously claimed. This amount has been recorded as a discrete item in the income tax benefit for the three months ended March 31, 2020. In addition the Company is currently estimating it will be able to carry back a portion of its current and forecasted 2020 net operating losses as of year end and has included an estimate in its annual effective tax rate calculation as of March 31, 2020 which resulted in an additional income tax benefit of $355,531 recorded during the three months ended March 31, 2020. Accordingly, the Company has recognized a total tax benefit of $3,245,879 in the three months ended March 31, 2020.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies As disclosed in Note 3, the Company is obligated to make payments of up to $80.0 million upon the achievement of specified worldwide net sales of all products developed using the technology acquired from Spitfire Pharma Inc. within ten (10) years following the approval of a new drug application filed with the FDA. In December 2019, a complaint was filed by Dr. De-Chu Christopher Tang (“Plaintiff”) against the Company in U.S. District Court for the Eastern District of Texas. The Plaintiff amended the complaint in February 2020 to include Vipin K. Garg and David J. Drutz as defendants, in addition to the Company (Dr. Garg, Dr. Drutz, and the Company are collectively referred to as “Defendants”). In March 2020 the Defendants’ filed a motion to dismiss the complaint. The Court denied the motion without prejudice and allowed Plaintiff an opportunity to file an amended complaint. Plaintiff’s second amended complaint was filed on April 17, 2020, and Defendants filed a motion to dismiss that complaint on May 1, 2020. Plaintiff, who is representing himself, alleges five causes of action as follows: (1) Defendants’ alleged retention of Plaintiff’s lab notebooks; (2) alleged plagiarism based on publishing an article without naming Plaintiff as an author; (3) use of the Adhigh System, which Plaintiff alleges he developed; (4) allegations that Defendants manipulated the Company’s stock and caused a decrease in value; and (5) allegations that the Defendants “wast[ed] government grant money and poison[ed] science by leaving data to rot.” The Company believes the allegations in the complaint are without merit and intends to vigorously defend the litigation. However, the outcome of this legal proceeding is uncertain at this time and the Company cannot reasonably estimate a range of loss, if any. Accordingly, the Company has not accrued any liability associated with this action. The Company is a party in various other contractual disputes, litigation, and potential claims arising in the ordinary course of business none of which are currently reasonably possible or probable of material loss.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurement	14. Fair Value Measurement The Company’s assets and liabilities measured at fair value on a recurring basis at March 31, 2020 consisted of the following: Fair Value Measurement at March 31, 2020 Total Level 1 Level 2 Level 3 Recurring fair value measurements Cash equivalents - money market funds $ 8,737,735 $ 8,737,735 $ — $ — Short-term investments 21,644,214 — 21,644,214 — Contingent consideration 4,500,000 — — 4,500,000 Warrant liability 10,000 — — 10,000 The Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2019 consisted of the following: Fair Value Measurement at December 31, 2019 Total Level 1 Level 2 Level 3 Recurring fair value measurements Cash equivalents - money market funds $ 8,034,640 $ 8,034,640 $ — $ — Short-term investments 28,277,386 — 28,277,386 — Contingent consideration 2,750,000 — — 2,750,000 Warrant liability 10,000 — — 10,000 Assets recorded at fair value on a nonrecurring basis, such as property and equipment and intangible assets are recognized at fair value when they are impaired. Cash equivalents and short-term investments have been initially valued at the transaction price and subsequently valued, at the end of each reporting period, utilizing third party pricing services or other market observable data. The pricing services utilize industry standard valuation models, including both income and market-based approaches and observable market inputs to determine value. Short-term investments had quoted prices at March 31, 2020 as shown below: March 31, 2020 Amortized Cost Unrealized Gain (Loss) Market Value United States treasury securities $ 1,699,058 $ 2,693 $ 1,701,751 Financial and corporate debt securities 19,957,584 (15,121 ) 19,942,463 Total $ 21,656,642 $ (12,428 ) $ 21,644,214 The fair value of contingent payments classified as a liability was based on the regulatory milestones described in Note 3 and estimated using the Monte Carlo simulation valuation model with Level 3 inputs. The following table is a reconciliation of the beginning and ending balance of contingent consideration liability: Balance at January 1, 2020 $ 2,750,000 Change in fair value 1,750,000 Balance at March 31, 2020 $ 4,500,000 The assumptions used to estimate the fair value of contingent payments that are classified as a liability at March 31, 2020 include the following significant unobservable inputs: Unobservable input Value or Range Weighted Average Expected volatility 110.5% 110.5% Risk-free interest rate 0.24% 0.24% Cost of capital 30.0% 30.0% Discount for lack of marketability 19%-20% 19.5% Probability of payment 42%-67% 60% Projected year of payment 2020-2022 2020 The Company’s warrant liability is valued using the Monte Carlo simulation valuation model. If applicable, the Company will recognize transfers into and out of levels within the fair value hierarchy at the end of the reporting period in which the actual event or change in circumstance occurs. There were no transfers into and out of any of the levels of the fair value hierarchy during 2020 or 2019.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events PER.C6 License Agreement Expansion On April 2, 2020, the Company entered into Amendment No. 3 to the Second Restated License Agreement (the “Amendment”), by and between the Company and Janssen Vaccines & Prevention B.V. (formerly known as Crucell Holland B.V.) (as amended by Amendment No. 1 to Second Restated License Agreement and Amendment No. 2 to Second Restated License Agreement, together with the Amendment, the “License Agreement”). Pursuant to the Amendment, the field of licenses granted to the Company for the use of the PER.C6 cell line under the License Agreement is expanded to cover COVID-19 caused by SARS-CoV-2 (severe acute respiratory syndrome coronavirus 2), in addition to the existing licenses related to Bacillus anthracis and influenza virus. All capitalized terms not defined herein shall have the meanings assigned to them in the Amendment or the License Agreement, as applicable. Pursuant to the Amendment, the Company agreed to pay certain additional development-based milestone payments through approval of licensed products by the FDA for the treatment or prevention of COVID-19, up to an aggregate amount of $1,225,000. The Company also agreed to pay royalty payments as a percentage of net sales of products for the treatment or prevention of COVID-19 in any country where such product is covered by a valid claim of any licensed patent or uses licensed know-how, subject to a royalty stacking reduction and minimum annual royalty payments, until the expiration of the term of the License Agreement, as amended. Paycheck Protection Program On April 7, 2020, the Company applied for a loan from ServisFirst Bank, as lender, pursuant to the Paycheck Protection Program of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) as administered by the U.S. Small Business Administration (the "SBA"). On April 13, 2020, the Loan was approved and the Company received the proceeds from a loan in the amount of $632,000 (the “PPP Loan”). The PPP Loan, which took the form of a promissory note (the “Promissory Note”) matures on April 7, 2022 and bears interest at a rate of 1% per annum. Monthly principal and interest payments, less the amount of any potential forgiveness (discussed below), will commence on November 7, 2020. The Company did not provide any collateral or guarantees for the PPP Loan, nor did the Company pay any facility charge to obtain the PPP Loan. The Promissory Note provides for customary events of default, including, among others, those relating to failure to make payment, bankruptcy, breaches of representations and material adverse effects. The Company may prepay the principal of the PPP Loan at any time without incurring any prepayment charges. All or a portion of the Loan may be forgiven by the SBA and lender upon application by the Company beginning 60 days but not later than 120 days after loan approval and upon documentation of expenditures in accordance with the SBA requirements. Under the CARES Act, loan forgiveness is available for the sum of documented payroll costs, covered rent payments, and covered utilities during the eight week period beginning on the date of loan approval. For purposes of the CARES Act, payroll costs exclude compensation of an individual employee in excess of $100,000, prorated annually. Not more than 25% of the forgiven amount may be for non-payroll costs. Forgiveness is reduced if full-time headcount declines, or if salaries and wages for employees with salaries of $100,000 or less annually are reduced by more than 25%. In the event the PPP Loan, or any portion thereof, is forgiven pursuant to the PPP, the amount forgiven is applied to outstanding principal. Equity Distribution Agreement As disclosed in Note 8, from April 8, 2020 through May 13, 2020, the Company sold 164,900 available to be sold under the current prospectus supplement

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements - Adopted	Recently Issued Accounting Pronouncements - Adopted In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2018-13, Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Potential common shares issuable upon conversion, vesting or exercise of unvested restricted stock, common stock warrants, and stock options that are excluded from the computation of diluted weighted-average shares outstanding are as follows: For the Three Months Ended For the Three Months Ended March 31, 2020 March 31, 2019 Common stock warrants 10,370,206 10,386,256 Common stock options 1,423,612 900,869 Restricted stock 215,413 323,333

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	The Company’s intangible assets consisted of the following: March 31, 2020 Estimated Useful Lives Gross Carrying Value Accumulated Amortization Net Book Value Internally developed patents 6-10 years $ 765,703 $ (458,778 ) $ 306,925 Acquired licenses 16-20 years 285,000 (273,157 ) 11,843 Total intangible assets subject to amortization 1,050,703 (731,935 ) 318,768 IPR&D assets Indefinite 12,418,967 — 12,418,967 Total $ 13,469,670 $ (731,935 ) $ 12,737,735 December 31, 2019 Estimated Useful Lives Gross Carrying Value Accumulated Amortization Net Book Value Internally developed patents 6-10 years $ 746,323 $ (448,874 ) $ 297,449 Acquired licenses 16-20 years 285,000 (269,221 ) 15,779 Total intangible assets subject to amortization 1,031,323 (718,095 ) 313,228 IPR&D assets Indefinite 12,418,967 — 12,418,967 Total $ 13,450,290 $ (718,095 ) $ 12,732,195
Schedule of Future Estimated Amortization Expense	As of March 31, 2020, future estimated amortization expense was as follows: Years ending December 31, The remainder of 2020 $ 31,452 2021 26,147 2022 26,147 2023 26,147 2024 22,241 2025 and thereafter 186,634 Total $ 318,768

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2020
Payables And Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: March 31, 2020 December 31, 2019 Accrued professional services $ 699,154 $ 429,467 Accrued payroll and employee benefits 595,884 1,183,130 Accrued interest 6,933 5,047 Accrued research and development 3,499,817 1,966,111 Lease obligation, current portion (see Note 11) 266,278 259,449 Deferred revenue 47,628 61,563 Total accrued expenses $ 5,115,694 $ 3,904,767

Other Long-Term Liabilities (Ta

Other Long-Term Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Other Liabilities Disclosure [Abstract]
Summary of Other Long-Term Liabilities	The Company’s other long-term liabilities are summarized as follows: March 31, 2020 December 31, 2019 Lease obligation, long-term portion (see Note 11) $ 1,415,970 $ 1,484,679 Common stock warrant liability (see Note 9) 10,000 10,000 Economic conditional grants 250,000 250,000 Other 115,220 120,196 Total other long-term liabilities $ 1,791,190 $ 1,864,875

Warrants (Tables)

Warrants (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Summary of Warrant Activity	A summary of warrant activity during the three months ended March 31, 2020 is as follows: Warrants outstanding, January 1, 2020 10,384,706 Exercises and conversions (14,500 ) Warrants outstanding, March 31, 2020 10,370,206
Summary of Periodic Changes in Fair Value of Warrant Liability	For warrants classified as a liability, the following is a summary of the periodic changes in their fair value during the three months ended March 31, 2020: Balance, January 1, 2020 $ 10,000 Changes in fair value — Balance, March 31, 2020 $ 10,000

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Information Related to Stock Options Outstanding	Information related to stock options outstanding at March 31, 2020 is as follows: Number of Stock Options Weighted- average Exercise Price Weighted- average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding 1,423,612 $ 3.59 5.96 $ 940,809 Exercisable 377,757 $ 6.19 5.61 $ 136,786 Unvested 1,045,855 $ 2.65 6.08 $ 804,022
Schedule of Stock-based Compensation Expense	Stock-based compensation expense is classified in the unaudited consolidated statements of operations and comprehensive loss for the three months ended March 31, 2020 and 2019 as follows: For the Three Months Ended March 31, 2020 2019 Research and development $ 29,000 $ 76,624 General and administrative 185,921 331,090 Total $ 214,921 $ 407,714

Operating Leases (Tables)

Operating Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Summary of Supplemental other Information Related to Operating Leases Balance Sheet	Supplemental other information related to the operating leases balance sheet information is as follows: March 31, 2020 Operating lease obligations $ 1,682,248 Operating lease right-of-use assets $ 680,826 Weighted-average remaining lease term 5.08 Weighted-average discount rate 8.0 %
Summary of Maturities of Lease Liabilities	Maturities of lease liabilities is as follows: Year ending December 31, The remainder of 2020 $ 291,366 2021 $ 393,542 2022 $ 400,198 2023 $ 407,054 2024 $ 414,116 2025 and thereafter $ 138,831 Total lease payments 2,045,107 Less imputed interest (362,859 ) Total $ 1,682,248

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis	The Company’s assets and liabilities measured at fair value on a recurring basis at March 31, 2020 consisted of the following: Fair Value Measurement at March 31, 2020 Total Level 1 Level 2 Level 3 Recurring fair value measurements Cash equivalents - money market funds $ 8,737,735 $ 8,737,735 $ — $ — Short-term investments 21,644,214 — 21,644,214 — Contingent consideration 4,500,000 — — 4,500,000 Warrant liability 10,000 — — 10,000 The Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2019 consisted of the following: Fair Value Measurement at December 31, 2019 Total Level 1 Level 2 Level 3 Recurring fair value measurements Cash equivalents - money market funds $ 8,034,640 $ 8,034,640 $ — $ — Short-term investments 28,277,386 — 28,277,386 — Contingent consideration 2,750,000 — — 2,750,000 Warrant liability 10,000 — — 10,000
Schedule of Short Term Investments	Short-term investments had quoted prices at March 31, 2020 as shown below: March 31, 2020 Amortized Cost Unrealized Gain (Loss) Market Value United States treasury securities $ 1,699,058 $ 2,693 $ 1,701,751 Financial and corporate debt securities 19,957,584 (15,121 ) 19,942,463 Total $ 21,656,642 $ (12,428 ) $ 21,644,214
Schedule of Reconciliation of Beginning and Ending Balance of Contingent Consideration Liability	The fair value of contingent payments classified as a liability was based on the regulatory milestones described in Note 3 and estimated using the Monte Carlo simulation valuation model with Level 3 inputs. The following table is a reconciliation of the beginning and ending balance of contingent consideration liability: Balance at January 1, 2020 $ 2,750,000 Change in fair value 1,750,000 Balance at March 31, 2020 $ 4,500,000
Summary of Assumptions Used to Estimate Fair Value of Contingent Payments	The assumptions used to estimate the fair value of contingent payments that are classified as a liability at March 31, 2020 include the following significant unobservable inputs: Unobservable input Value or Range Weighted Average Expected volatility 110.5% 110.5% Risk-free interest rate 0.24% 0.24% Cost of capital 30.0% 30.0% Discount for lack of marketability 19%-20% 19.5% Probability of payment 42%-67% 60% Projected year of payment 2020-2022 2020

Contingent Consideration - Addi

Contingent Consideration - Additional Information (Detail) - USD ($)	Jul. 12, 2019	Mar. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Estimated future contingent consideration		$ 4,500,000	$ 2,750,000
Change in value of contingent consideration for acquired in-process research and development		1,750,000
Spitfire Pharma, Inc. [Member]
Business Acquisition [Line Items]
Agreement date	Jul. 8, 2019
Unregistered shares of common stock	1,887,250
Up-front consideration	$ 5,000,000
Spitfire Pharma, Inc. [Member] | Investigational New Drug Application Milestone [Member]
Business Acquisition [Line Items]
Future contingent payments	$ 5,000,000
Future contingent payment term	60 days
Spitfire Pharma, Inc. [Member] | Investigational New Drug Application and Regulatory Milestones [Member]
Business Acquisition [Line Items]
Future contingent payments	$ 3,000,000
Future contingent payment term	60 days
Spitfire Pharma, Inc. [Member] | Sales Milestones [Member]
Business Acquisition [Line Items]
Future contingent payments	$ 80,000,000
License agreement term	10 years
Spitfire Pharma, Inc. [Member] | Regulatory Milestones [Member]
Business Acquisition [Line Items]
Upfront consideration release at 3 months	50.00%
Upfront consideration release at 6 months	50.00%
Spitfire Pharma, Inc. [Member] | Regulatory Milestones [Member] | Monte Carlo Simulation [Member]
Business Acquisition [Line Items]
Estimated future contingent consideration	$ 2,750,000	4,500,000
Change in value of contingent consideration for acquired in-process research and development		$ 1,750,000
Spitfire Pharma, Inc. [Member] | Maximum [Member]
Business Acquisition [Line Items]
Future contingent payments	$ 88,000,000

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Common Stock Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	10,370,206	10,386,256
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,423,612	900,869
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	215,413	323,333

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Intangible Assets [Line Items]
Intangible assets subject to amortization, Gross Carrying Value	$ 1,050,703	$ 1,031,323
Intangible assets subject to amortization, Accumulated Amortization	(731,935)	(718,095)
Intangible assets subject to amortization, Net Book Value	318,768	313,228
Total intangible assets, Gross Carrying Value	13,469,670	13,450,290
Total intangible assets, Net Book Value	12,737,735	12,732,195
IPR&D [Member]
Schedule Of Intangible Assets [Line Items]
Total intangible assets, Gross Carrying Value	12,418,967	12,418,967
Total intangible assets, Net Book Value	12,418,967	12,418,967
Internally Developed Patents [Member]
Schedule Of Intangible Assets [Line Items]
Intangible assets subject to amortization, Gross Carrying Value	765,703	746,323
Intangible assets subject to amortization, Accumulated Amortization	(458,778)	(448,874)
Intangible assets subject to amortization, Net Book Value	$ 306,925	$ 297,449
Internally Developed Patents [Member] | Minimum [Member]
Schedule Of Intangible Assets [Line Items]
Estimated Useful Lives	6 years	6 years
Internally Developed Patents [Member] | Maximum [Member]
Schedule Of Intangible Assets [Line Items]
Estimated Useful Lives	10 years	10 years
Acquired Licenses [Member]
Schedule Of Intangible Assets [Line Items]
Intangible assets subject to amortization, Gross Carrying Value	$ 285,000	$ 285,000
Intangible assets subject to amortization, Accumulated Amortization	(273,157)	(269,221)
Intangible assets subject to amortization, Net Book Value	$ 11,843	$ 15,779
Acquired Licenses [Member] | Minimum [Member]
Schedule Of Intangible Assets [Line Items]
Estimated Useful Lives	16 years	16 years
Acquired Licenses [Member] | Maximum [Member]
Schedule Of Intangible Assets [Line Items]
Estimated Useful Lives	20 years	20 years

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Research and Development [Member]
Schedule Of Intangible Assets [Line Items]
Amortization expense of intangible assets	$ 13,851	$ 92,744

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Future Estimated Amortization Expense (Detail) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
The remainder of 2020	$ 31,452
2021	26,147
2022	26,147
2023	26,147
2024	22,241
2025 and thereafter	186,634
Intangible assets subject to amortization, Net Book Value	$ 318,768	$ 313,228

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Accrued Liabilities And Other Liabilities [Abstract]
Accrued professional services	$ 699,154	$ 429,467
Accrued payroll and employee benefits	595,884	1,183,130
Accrued interest	6,933	5,047
Accrued research and development	3,499,817	1,966,111
Lease obligation, current portion (see Note 11)	266,278	259,449
Deferred revenue	47,628	61,563
Total accrued expenses	$ 5,115,694	$ 3,904,767

Other Long-Term Liabilities - S

Other Long-Term Liabilities - Summary of Other Long-Term Liabilities (Detail) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Lease obligation, long-term portion (see Note 11)	$ 1,415,970	$ 1,484,679
Common stock warrant liability (see Note 9)	10,000	10,000
Economic conditional grants	250,000	250,000
Other	115,220	120,196
Total other long-term liabilities	$ 1,791,190	$ 1,864,875

At-the-Market Offering - Additi

At-the-Market Offering - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Mar. 27, 2020	May 13, 2020	Mar. 31, 2020	Dec. 31, 2019
Changes In Equity And Comprehensive Income Line Items [Line Items]
Common stock par value			$ 0.0001	$ 0.0001
Equity Distribution Agreement [Member] | At-The-Market Offering [Member] | JMP Securities LLC [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Common stock par value	$ 0.0001
Aggregate offering price	$ 18.9
Equity Distribution Agreement [Member] | At-The-Market Offering [Member] | JMP Securities LLC [Member] | Subsequent Event [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Shares of common stock sold		164,900
Net proceeds from offering		$ 0.6
Common stock available to be sold		$ 18.3
Equity Distribution Agreement [Member] | At-The-Market Offering [Member] | JMP Securities LLC [Member] | Maximum [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Aggregate offering price	$ 50

Warrants - Summary of Warrant A

Warrants - Summary of Warrant Activity (Detail)	3 Months Ended
	Mar. 31, 2020shares
Equity [Abstract]
Warrants outstanding, January 1, 2020	10,384,706
Exercises and conversions	(14,500)
Warrants outstanding, March 31, 2020	10,370,206

Warrants - Summary of Periodic

Warrants - Summary of Periodic Changes in Fair Value of Warrant Liability (Detail) - Level 3 [Member] - Common Stock Warrants [Member]	3 Months Ended
	Mar. 31, 2020USD ($)
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Balance, January 1, 2020	$ 10,000
Changes in fair value
Balance, March 31, 2020	$ 10,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employees purchased, value	$ 56,739
Stock-based compensation	$ 214,921	$ 407,714
2019 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employees purchased, shares	38,809
Employees purchased, value	$ 56,739
Stock-based compensation	$ 14,712
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option vesting Period	4 years
Stock option expiration Period	10 years
Unrecognized compensation cost, stock options	$ 1,802,811
Unrecognized stock-based compensation expense, period for recognition	3 years 3 months 10 days
Number of Stock Options, Granted	450,500
Stock options granted, weighted-average exercise price	$ 1.92
Weighted-average grant date fair value of stock options granted	$ 1.51
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense, period for recognition	2 years 8 months 1 day
Unvested restricted stock, shares	215,413
Unrecognized compensation expense	$ 771,291
Common stock issued as result of vesting of restricted stock	20,253

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Information Related to Stock Options Outstanding (Detail)	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Stock Options, Outstanding | shares	1,423,612
Number of Stock Options, Exercisable | shares	377,757
Number of Stock Options, Unvested | shares	1,045,855
Weighted-average Exercise Price, Outstanding | $ / shares	$ 3.59
Weighted-average Exercise Price, Exercisable | $ / shares	6.19
Weighted-average Exercise Price, Unvested | $ / shares	$ 2.65
Weighted-average Remaining Contractual Term, Outstanding	5 years 11 months 15 days
Weighted-average Remaining Contractual Term, Exercisable	5 years 7 months 9 days
Weighted-average Remaining Contractual Term, Unvested	6 years 29 days
Aggregate Intrinsic Value, Outstanding | $	$ 940,809
Aggregate Intrinsic Value, Exercisable | $	136,786
Aggregate Intrinsic Value, Unvested | $	$ 804,022

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Stock-based Compensation Expense (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock based compensation expense	$ 214,921	$ 407,714
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock based compensation expense	29,000	76,624
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock based compensation expense	$ 185,921	$ 331,090

Operating Leases - Additional I

Operating Leases - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020USD ($)
Leases [Abstract]
Non-cancellable lease maturity period	2022-12
Operating lease rent expense	$ 87,599
Cash paid for operating lease liabilities	$ 61,880

Operating Leases - Summary of S

Operating Leases - Summary of Supplemental other Information Related to Operating Leases Balance Sheet (Detail) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease obligations	$ 1,682,248
Operating lease right-of-use assets	$ 680,826	$ 698,321
Weighted-average remaining lease term	5 years 29 days
Weighted-average discount rate	8.00%

Operating Leases - Summary of M

Operating Leases - Summary of Maturities of Lease Liabilities (Detail)	Mar. 31, 2020USD ($)
Leases [Abstract]
The remainder of 2020	$ 291,366
2021	393,542
2022	400,198
2023	407,054
2024	414,116
2025 and thereafter	138,831
Total lease payments	2,045,107
Less imputed interest	(362,859)
Total	$ 1,682,248

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020USD ($)
Income Tax Disclosure [Abstract]
Income tax, refund claim	$ 2,890,348
Additional income tax benefit	355,531
Income tax benefit	$ 3,245,879

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - Spitfire Pharma, Inc. [Member] - Sales Milestones [Member] $ in Millions	Jul. 12, 2019USD ($)
Commitments And Contingencies [Line Items]
Future contingent payments	$ 80
License agreement term	10 years

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	$ 21,644,214	$ 28,277,386
Fair Value, Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	21,644,214	28,277,386
Contingent consideration	4,500,000	2,750,000
Warrant liability	10,000	10,000
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	21,644,214	28,277,386
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration	4,500,000	2,750,000
Warrant liability	10,000	10,000
Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	8,737,735	8,034,640
Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 8,737,735	$ 8,034,640

Fair Value Measurement - Sche_2

Fair Value Measurement - Schedule of Short Term Investments (Detail)	Mar. 31, 2020USD ($)
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 21,656,642
Unrealized Gain (Loss)	(12,428)
Market Value	21,644,214
United States Treasury Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	1,699,058
Unrealized Gain (Loss)	2,693
Market Value	1,701,751
Financial and Corporate Debt Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	19,957,584
Unrealized Gain (Loss)	(15,121)
Market Value	$ 19,942,463

Fair Value Measurement - Sche_3

Fair Value Measurement - Schedule of Reconciliation of Beginning and Ending Balance of Contingent Consideration Liability (Detail) - Contingent Consideration Liability [Member]	3 Months Ended
	Mar. 31, 2020USD ($)
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance at January 1, 2020	$ 2,750,000
Change in fair value	1,750,000
Balance at March 31, 2020	$ 4,500,000

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Assumptions Used to Estimate Fair Value of Contingent Payments (Detail) - Level 3 [Member]	3 Months Ended
	Mar. 31, 2020
Expected Volatility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	1.105
Expected Volatility [Member] | Weighted Average [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	1.105
Risk-free Interest Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	0.0024
Risk-free Interest Rate [Member] | Weighted Average [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	0.0024
Cost of Capital [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	0.300
Cost of Capital [Member] | Weighted Average [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	0.300
Discount for Lack of Marketability [Member] | Minimum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	0.19
Discount for Lack of Marketability [Member] | Maximum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	0.20
Discount for Lack of Marketability [Member] | Weighted Average [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	0.195
Probability of Payment [Member] | Minimum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	0.42
Probability of Payment [Member] | Maximum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	0.67
Probability of Payment [Member] | Weighted Average [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	0.60
Projected Year of Payment [Member] | Minimum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	2020
Projected Year of Payment [Member] | Maximum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	2022
Projected Year of Payment [Member] | Weighted Average [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assumptions used to estimate fair value of contingent payments	2020

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair value transfers, Level 1 to Level 2 assets	$ 0	$ 0
Fair value transfers, Level 2 to Level 1 assets	0	0
Fair value transfers, Level 1 to Level 2 liabilities	0	0
Fair value transfers, Level 2 to Level 1 liabilities	$ 0	$ 0

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - USD ($)	Apr. 13, 2020	Apr. 02, 2020	May 13, 2020
Paycheck Protection Program Loan [Member]
Subsequent Event [Line Items]
Proceeds from unsecured loan	$ 632,000
Janssen Vaccines and Prevention BV [Member] | License [Member] | Maximum [Member]
Subsequent Event [Line Items]
Development-based milestone payments		$ 1,225,000
JMP Securities LLC [Member] | Equity Distribution Agreement [Member] | At-The-Market Offering [Member]
Subsequent Event [Line Items]
Shares of common stock sold			164,900
Net proceeds from offering			$ 600,000
Common stock available to be sold			$ 18,300,000