Kiora Pharmaceuticals (KPRX) 10-Q 14 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 10, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Registrant Name	EYEGATE PHARMACEUTICALS INC
Entity Central Index Key	1,372,514
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	EYEG
Entity Common Stock, Shares Outstanding		17,204,778

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and Cash Equivalents	$ 9,244,570	$ 3,635,224
License and Grant Fees Receivable	602,000	37,349
Prepaid Expenses and Other Current Assets	360,305	464,981
Current Portion of Refundable Tax Credit Receivable	21,691	16,484
Total Current Assets	10,228,566	4,154,038
Property and Equipment, Net	24,431	38,040
Restricted Cash	45,000	45,000
Goodwill and In-Process R&D	5,438,210	5,438,210
Other Assets	323,206	55,314
Total Assets	16,059,413	9,730,602
Current Liabilities:
Accounts Payable	658,615	1,412,128
Accrued Expenses	1,724,272	1,670,930
Deferred Revenue	10,254,600	4,225,000
Total Current Liabilities	12,637,487	7,308,058
Non-Current Liabilities:
Contingent Consideration	1,210,000	1,210,000
Deferred Tax Liability	1,525,896	1,525,896
Long-Term Portion of Capital Lease Obligation	6,585	16,069
Total Non-Current Liabilities	2,742,481	2,751,965
Total Liabilities	15,379,968	10,060,023
Commitments and Contingencies (Note 9)
Stockholders’ Equity (Deficit):
Preferred Stock, $0.01 par value: 9,995,828 shares authorized; 3,750 designated Series A, 0 shares issued and outstanding at September 30, 2017 and December 31, 2016; 10,000 designated Series B, 600 and 0 issued and outstanding at September 30, 2017 and December 31, 2016, respectively	6	0
Common Stock, $0.01 par value: 100,000,000 shares authorized; 17,204,778 and 10,130,883 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	172,048	101,309
Additional Paid-In Capital	89,366,634	78,106,645
Accumulated Deficit	(88,985,623)	(78,598,738)
Stockholder Note Receivable	0	(58,824)
Accumulated Other Comprehensive Income	126,380	120,187
Total Stockholders’ Equity (Deficit)	679,445	(329,421)
Total Liabilities and Stockholders’ Equity (Deficit)	$ 16,059,413	$ 9,730,602

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	17,204,778	10,130,883
Common Stock, Shares, Outstanding	17,204,778	10,130,883
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	9,995,828	9,997,223
Series A Preferred Stock [Member]
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Preferred Stock Designated Shares	3,750	3,750
Series B Preferred Stock [Member]
Preferred Stock, Shares Issued	600	0
Preferred Stock, Shares Outstanding	600	0
Preferred Stock Designated Shares	10,000	10,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Collaboration Revenue	$ 74,696	$ 274,289	$ 407,518	$ 508,889
Operating Expenses:
Research and Development	(3,175,978)	(2,449,445)	(7,253,171)	(5,844,951)
General and Administrative	(1,038,822)	(1,201,804)	(3,540,857)	(4,309,737)
Total Operating Expenses	(4,214,800)	(3,651,249)	(10,794,028)	(10,154,688)
Operating Loss	(4,140,104)	(3,376,960)	(10,386,510)	(9,645,799)
Other (Expense) Income, Net:
Interest Income	40	298	537	3,423
Interest Expense	(304)	0	(912)	0
Total Other (Expense) Income, Net	(264)	298	(375)	3,423
Net Loss	$ (4,140,368)	$ (3,376,662)	$ (10,386,885)	$ (9,642,376)
Net Loss per Common Share- Basic and Diluted	$ (0.24)	$ (0.36)	$ (0.78)	$ (1.13)
Weighted Average Shares Outstanding- Basic and Diluted	17,204,778	9,269,535	13,267,501	8,499,709
Other Comprehensive Loss:
Foreign Currency Translation Adjustments	$ 3,272	$ 715	$ 6,193	$ (344)
Comprehensive Loss	$ (4,137,096)	$ (3,375,947)	$ (10,380,692)	$ (9,642,720)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - 9 months ended Sep. 30, 2017 - USD ($)	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Stockholders Note Receivable [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Deficit [Member]	Convertible Preferred Stock [Member]
Balance at Dec. 31, 2016	$ (329,421)	$ 101,309	$ 78,106,645	$ (58,824)	$ 120,187	$ (78,598,738)	$ 0
Balance (in shares) at Dec. 31, 2016		10,130,883					0
Stock-Based Compensation	700,833		700,833
Cancellation of Stockholder Note Receivable	58,824			58,824
Issuance of Common Stock in Offerings, Net of Offering Costs of $1,086,736	8,611,683	$ 59,788	8,551,895
Issuance of Common Stock in Offerings, Net of Offering Costs of $1,086,736 (in shares)		5,978,817
Issuance of Series B Preferred Stock, Net of Offering Costs of $246,333	1,977,500		1,977,480				$ 20
Issuance of Series B Preferred Stock, Net of Offering Costs of $246,333 (in shares)							1,995
Conversion of Series B Preferred Stock	0	$ 9,300	(9,286)				$ (14)
Conversion of Series B Preferred Stock (in shares)		930,000					(1,395)
Exercise of Common Stock Options	40,718	$ 611	40,107
Exercise of Common Stock Options (in shares)		61,078
Issuance of Restricted Stock	0	$ 1,040	(1,040)
Issuance of Restricted Stock (in shares)		104,000
Foreign Currency Translation Adjustment	6,193				6,193
Net Loss	(10,386,885)					(10,386,885)
Balance at Sep. 30, 2017	$ 679,445	$ 172,048	$ 89,366,634	$ 0	$ 126,380	$ (88,985,623)	$ 6
Balance (in shares) at Sep. 30, 2017		17,204,778					600

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (Parenthetical)	9 Months Ended
	Sep. 30, 2017USD ($)
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	$ 1,086,736
Series B Preferred Stock [Member]
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	$ 246,333

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating Activities
Net Loss	$ (10,386,885)	$ (9,642,376)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:
Depreciation and Amortization	13,608	649
Stock-Based Compensation	700,833	390,469
Loss on Cancellation of Stockholder Note Receivable	91,054	0
Changes in Operating Assets and Liabilities:
Prepaid Expenses and Other Current Assets	(194,364)	(35,748)
Refundable Tax Credit Receivable	(3,173)	9,786
License and Grant Receivable	(564,650)	2,378,635
Other Assets	(1,083)	(15,364)
Accounts Payable	(753,513)	704,912
Deferred Revenue	6,029,600	48,324
Accrued Expenses	53,342	(200,829)
Net Cash Used in Operating Activities	(5,015,231)	(6,361,542)
Investing Activities
Acquisition of Jade (Net of Cash Acquired)	0	185,746
Restricted Cash	0	(25,000)
Equipment Purchased Under Capital Lease	0	(11,000)
Net Cash Provided by Investing Activities	0	149,746
Financing Activities
Proceeds from Stock Offerings	11,922,252	3,768,698
Stock Issuance Costs	(1,333,069)	(323,814)
Exercise of Common Stock Options	40,718	56,206
Equipment Financing Payments	(9,484)	0
Net Cash Provided by Financing Activities	10,620,417	3,501,090
Effect of Exchange Rate Changes on Cash	4,160	(1,053)
Net Increase (Decrease) in Cash	5,609,346	(2,711,759)
Cash, Beginning of Period	3,635,224	8,394,133
Cash, End of Period	9,244,570	5,682,374
Supplemental Disclosure of Noncash Investing and Financing Activities
Conversion of Preferred Stock into Common Stock	9,300	6,890
Issuance of Common Stock to Acquire Jade Therapeutics, Inc.	0	2,909,766
Contingent Liability in Connection with the Jade Acquisition	0	1,210,000
Property and Equipment Acquired Under Capital Lease	$ 0	$ 31,576

Organization, Business

Organization, Business	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	1. Organization, Business EyeGate Pharmaceuticals, Inc. (“EyeGate” or the “Company”) a Delaware corporation, began operations in December 2004 and is a clinical-stage specialty pharmaceutical company that is focused on developing and commercializing products for treating diseases and disorders of the eye. EyeGate’s first product in clinical trials incorporates a reformulated topically active corticosteroid, dexamethasone phosphate, EGP-437, that is delivered into the ocular tissues though its proprietary iontophoresis drug delivery system, the EyeGate® II Delivery System. The Company is developing the EyeGate® II Delivery System and EGP-437 combination product (together, the “EGP-437 Product”) for the treatment of various inflammatory conditions of the eye, including anterior uveitis, a debilitating form of intraocular inflammation of the anterior portion of the uvea, such as the iris and/or ciliary body, post-cataract surgery for inflammation and pain, and macular edema, an abnormal thickening of the macula associated with the accumulation of excess fluids in the retina. Effective March 7, 2016, the Company acquired all of the capital stock of Jade Therapeutics, Inc. (“Jade”), a privately-held company developing locally-administered, polymer-based products designed to treat poorly-served ophthalmic indications (the “Jade Acquisition”). EyeGate and Jade are an integrated line of business developing ophthalmic solutions for a variety of ocular diseases and disorders. On June 30, 2016, the Company completed a registered direct offering of 441,000 1,234,000 3.4 642,150 1.8 5,336,667 1,995 1,330,000 6,666,667 8.8 June 14, 2022 See Effective July 31, 2015, the Company’s Common Stock began trading on The Nasdaq Capital Market under the symbol “EYEG”. Since its inception, EyeGate has devoted substantially all of its efforts to business planning, research and development, and raising capital. The accompanying Condensed Consolidated Financial Statements have been prepared assuming that EyeGate will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. At September 30, 2017, EyeGate had Cash and Cash Equivalents of $ 9,244,570 88,985,623 100,000,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	2. Summary of Significant Accounting Policies The accompanying Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries, EyeGate Pharma S.A.S. and Jade, collectively referred to as “the Company”. All inter-company balances and transactions have been eliminated in consolidation. These Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information. Certain information and disclosures normally included in Condensed Consolidated Financial Statements prepared in accordance with U.S. GAAP have been condensed or eliminated. Accordingly, these unaudited Condensed Consolidated Financial Statements should be read in conjunction with the annual financial statements of the Company as of and for the year ended December 31, 2016. The accompanying interim financial statements and related disclosures are unaudited, have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include normal recurring adjustments, necessary for a fair presentation of the results of operations for the periods presented. The year-end balance sheet was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The results of operations for an interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period. The preparation of financial statements in conformity with U.S. GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of expenses during the reporting periods. The Company makes significant estimates and assumptions in recording the accruals for its clinical trial and research activities, establishing the useful lives of intangible assets and property and equipment, and conducting impairment reviews of long-lived assets. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Although the Company monitors and regularly assesses these estimates, actual results could differ significantly from these estimates. The Company records changes in estimates in the period that it becomes aware of the change. The Company expenses research and development (“R&D”) expenditures as incurred. R&D expenses are comprised of costs incurred in performing R&D activities, including salaries, benefits, facilities, research-related overhead, sponsored research costs, contracted services, license fees, expenses related to generating, filing, and maintaining intellectual property and other external costs. Because the Company believes that, under its current process for developing its products, the viability of the products is essentially concurrent with the establishment of technological feasibility, no costs have been capitalized to date. The Company records in-process R&D projects acquired in business combinations that have not reached technological feasibility and which have no alternative future use. For in-process R&D projects acquired in business combinations, the Company capitalizes the in-process R&D project and annually evaluates this asset for impairment until the R&D process has been completed or abandoned. Once the R&D process is complete, the Company amortizes the R&D asset over its remaining useful life. At September 30, 2017, the Company had recorded $ 3,912,314 As part of the Company’s process of preparing the Condensed Consolidated Financial Statements, the Company is required to estimate its accrued expenses. This process includes reviewing open contracts and purchase orders, communicating with its applicable personnel to identify services that have been performed on its behalf and estimating the level of service performed and the associated costs incurred for the service when the Company has not yet been invoiced or otherwise notified of actual costs. The majority of the Company’s service providers invoice monthly in arrears for services performed. The Company makes estimates of its accrued expenses as of each balance sheet date in the financial statements based on facts and circumstances known at the time. The Company periodically confirms the accuracy of these estimates with the service providers and makes adjustments if necessary. The Company has entered into certain related-party transactions, making payments for services to one vendor, eight consultants and a public university, all of whom also are stockholders of the Company. These transactions generally are ones that involve a stockholder or option holder of the Company to whom we also make payments during the year, typically as a consultant or a service provider. The amounts recorded or paid are not material to the accompanying Condensed Consolidated Financial Statements. September 30, September 30, 2017 2016 (unaudited) (unaudited) Common Stock Warrants 9,519,403 2,852,736 Employee Stock Options 1,858,300 1,533,311 Preferred Stock 400,000 545,000 Total Shares of Common Stock Issuable 11,777,703 4,931,047 The carrying amounts of Accounts Receivable and Accounts Payable approximate their fair values due to the short-term nature of these financial instruments. As of September 30, 2017, and December 31, 2016, the fair value of the Company’s money market funds and contingent consideration was $ 750,946 1,210,000 1,500,882 1,210,000 At September 30, 2017 and December 31, 2016, the Company had no other assets or liabilities that are subject to fair value methodology and estimation in accordance with FASB Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurement The Company follows Accounting Standards Update (“ASU”) 2009-13, Multiple-Deliverable Revenue Arrangements, Revenue Recognition-Milestone Method When evaluating multiple element arrangements, Company management considers whether the deliverables under the arrangement represent separate units of accounting. This evaluation requires subjective determinations and requires Company management to make judgments about individual deliverables, including whether such deliverable is separable from the other aspects of the contractual relationship. In determining a unit of accounting, Company management evaluates certain criteria, including whether the deliverable has standalone value, based on the consideration of the relevant facts and circumstances for each arrangement. The consideration received is allocated among each separate unit of accounting using the relative selling price method, and the applicable revenue recognition criteria is applied to each separate unit. The Company generally expects to recognize revenue attributable to a future license obtained on a straight-line basis over the Company’s contractual or estimated performance period, which is typically the term of the Company’s R&D obligation. If Company management cannot reasonably estimate when the Company’s performance obligation ends, then revenue is deferred until Company management can reasonably estimate when the performance obligation ends. The periods over which revenue should be recognized are subject to estimates by management and may change over the course of the R&D agreement. Such a change could have a material impact on the amount of revenue the Company records in future periods. At the inception of arrangements that include milestone payments, Company management evaluates whether each milestone is substantive and at risk to both parties on the basis of the contingent nature of the milestone. This evaluation includes an assessment of whether (a) the consideration is commensurate with either (1) the entity’s performance to achieve the milestone, or (2) the enhancement of the value of the delivered item(s) as a result of a specific outcome resulting from the entity’s performance to achieve the milestone, (b) the consideration relates solely to past performance, and (c) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. Company management evaluates factors such as the scientific, regulatory, commercial and other risks that must be overcome to achieve the respective milestone, the level of effort and investment required to achieve the respective milestone and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement in making this assessment. The Company has concluded that the clinical and development milestones pursuant to its R&D arrangements are substantive. The Company aggregates its milestones into four categories: (i) clinical and development milestones, (ii) the chemistry, manufacturing and controls (“CMC”) validation, (iii) regulatory milestones, and (iv) commercial milestones. Clinical and development milestones are typically achieved when a product candidate advances into a defined phase of clinical research or completes such phase or when a contractually specified clinical trial enrollment target is attained. CMC validation milestones are typically achieved when the validation paperwork is finalized. Regulatory milestones are typically achieved upon acceptance of the submission for marketing approval of a product candidate or upon approval to market the product candidate by the FDA or other global regulatory authorities. For example, a milestone payment may be due to the Company upon the FDA’s acceptance of an NDA. Commercial milestones are typically achieved when an approved pharmaceutical product reaches certain defined levels of net sales by the licensee, such as when a product first achieves global sales or annual sales of a specified amount. Revenues from clinical and development, CMC and regulatory milestone payments (if the milestones are deemed substantive and the milestone payments are nonrefundable) are recognized upon successful accomplishment of the milestones. Revenue from commercial milestone payments are accounted for as royalties and are recorded as Revenue upon achievement of the milestone, assuming all other revenue recognition criteria are met. Payments or reimbursements resulting from the Company’s R&D activities are recognized as the services are performed and are presented on a gross basis so long as there is persuasive evidence of an arrangement, the fee is fixed or determinable, and collection of the related receivable is reasonably assured. Amounts received prior to satisfying the above revenue recognition criteria are recorded as Deferred Revenue on the Condensed Consolidated Balance Sheet. On July 9, 2015, the Company entered into an exclusive, worldwide licensing agreement with a subsidiary of Valeant Pharmaceuticals International, Inc. (“Valeant”), through which the Company granted to Valeant an exclusive, worldwide commercial and manufacturing right to the Company’s EGP-437 Product in the field of anterior uveitis, as well as a right of last negotiation to license its EGP-437 Product for indications other than anterior uveitis (the “Valeant Agreement”). There are four principal R&D milestones under the Valeant Agreement: (i) the Phase 3 Clinical Trial, (ii) the Endothelial Cell Count Safety Trial (a trial to determine that treatment has not adversely affected a patient’s corneal endothelial cell density), (iii) the CMC Validation, and (iv) the New Drug Application, or “NDA”, filing with the FDA (collectively, the “Four Milestones”, and each individually, a “Milestone”). Under the Valeant Agreement, Valeant paid to the Company an initial upfront payment, and the Company is eligible to receive certain other payments, upon and subject to the achievement of certain specified development and commercial progress of the EGP-437 Product for the treatment of anterior uveitis. The Company received the initial up-front payment in 2015, which it recorded as Deferred Revenue on its Condensed Consolidated Balance Sheet, and later in 2015 began receiving certain additional payments, based on R&D progress, to continue over several years. The Company receives payments both when it crosses certain thresholds on the way to each Milestone (each, a “Progress Payment”), as well as once it achieves each Milestone. The Company is entitled to retain all of these payments. The Company defers each Progress Payment, capitalizes each payment on its Condensed Consolidated Balance Sheet as Deferred Revenue, and recognizes these payments in the aggregate as Revenue once it achieves the Milestone to which the Progress Payment relates. The Company recognizes the initial upfront payment as Revenue ratably as it completes each of the Four Milestones, the amount recognized being the total upfront payment times the percentage represented by the proportionate share of fair value of each Milestone relative to the total fair value of all Milestones. Accordingly, the Deferred Revenue account on the Condensed Consolidated Balance Sheet is reduced as Revenue is recognized in the Condensed Consolidated Statement of Operations and Comprehensive Loss. Due to longer enrollment time, the Company expects to begin recognizing Revenue with respect to the Valeant Agreement Progress Payments in the second quarter of 2018. On February 21, 2017, the Company entered into another exclusive, worldwide licensing agreement with a subsidiary of Valeant (the “New Valeant Agreement”), through which the Company granted Valeant exclusive, worldwide commercial and manufacturing rights to its EGP-437 Product in the field of ocular iontophoretic treatment for post-operative ocular inflammation and pain in ocular surgery patients (the “New Field”). Under the New Valeant Agreement, Valeant paid the Company an initial upfront payment of $ 4.0 1.428 The Company receives government grant funds from two sources: the U.S. Department of Defense (“DoD”) and the National Science Foundation (“NSF”). The Company is paid by the DoD after it performs specified, agreed-upon research, and it records these grant funds as Revenue as it performs the research. The Company is generally paid by the NSF before it performs specified, agreed-upon research. The Company records these NSF funds on our Condensed Consolidated Balance Sheet as Deferred Revenue when invoiced, and recognize these amounts as Revenue ratably as the research is performed, typically over a six-month period. The DoD and NSF have each committed to grant funds to Jade for specified ocular therapeutic research activities (together, the “U.S. Government Grants”) to be conducted through 2017, which have been fully funded as of September 30, 2017. The Company recognizes grant funds as Revenue when it performs the activities specified by the terms of the grant and is entitled to the funds. In November 2016, FASB issued ASU No. 2016-18, Restricted Cash In February 2016, the FASB issued ASU No. 2016-02, Leases see In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606)

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	3. Property and Equipment Property and equipment at September 30, 2017 (unaudited) and December 31, 2016 consists of the following: Estimated Useful Life September 30, December 31, (Years) 2017 2016 Laboratory Equipment 3 $ 42,576 $ 42,576 Less: Accumulated Depreciation 18,145 4,536 $ 24,431 $ 38,040 Depreciation expense was $ 4,536 404 13,608 649

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2017
Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	4. Accrued Expenses Accrued expenses consist of the following: September 30, 2017 December 31, (unaudited) 2016 Clinical Trials $ 977,882 $ 770,158 Payroll and Benefits 564,525 668,802 Professional Fees 163,703 174,342 Short-Term Portion of Capital Lease Obligation 12,645 12,645 Consulting 5,517 44,983 Total Accrued Expenses $ 1,724,272 $ 1,670,930

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	5. Capital Stock On May 24, 2016, the Company entered into an At The Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright & Co., LLC (the “Sales Agent”), to create an at the market equity program under which the Company can from time to time offer and sell up to 1,319,289 3,285,798 642,150 1.8 the Company is restricted from issuing any shares pursuant to the ATM Agreement for a period of twenty-four months following the closing date of the offering. However, this restriction is suspended for any sale of shares of Common Stock under the ATM Agreement that is above $3.00 per share. On June 14, 2017, the Company completed a public offering of 5,336,667 1,995 1,330,000 6,666,667 675 450,000 720 480,000 8.8 1.50 6,666,667 At each of September 30, 2017 and December 31, 2016, the Company had 100,000,000 0.01 17,204,778 10,130,883 9,995,828 9,997,223 0.01 3,750 0 10,000 600 0 1,395 0 400,000 0 .

Warrants

Warrants	9 Months Ended
	Sep. 30, 2017
Warrants [Abstract]
Warrants Disclosure [Text Block]	6. Warrants Number of Weighted Weighted Outstanding at December 31, 2016 2,852,736 $ 7.45 4.26 Issued 6,666,667 1 1.50 2 4.71 Outstanding at September 30, 2017 9,519,403 $ 3.28 4.50 1 Consists of 6,666,667 6,666,667 2 Warrant exercise price for a full share of Common Stock. All of the warrant agreements provide for a cashless exercise in the event a registration statement covering the issuance of the shares of common stock underlying the warrants is not effective, whereby the number of warrants to be issued will be reduced by the number of shares which could be purchased from the proceeds of the exercise of the respective warrant. The outstanding warrants expire from 2020 through 2025.

Stockholder Notes Receivable

Stockholder Notes Receivable	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	In 2007, a Stockholder of the Company was issued various promissory notes totaling $ 58,824 0.93 On September 5, 2017, these notes were forgiven by the Company in the amount of $ 91,054 32,230

Equity Incentive Plan

Equity Incentive Plan	9 Months Ended
	Sep. 30, 2017
Share Based Compensation Option And Incentive Plan [Abstract]
Shareholders' Equity and Share-based Payments [Text Block]	8. Equity Incentive Plan In 2005, the Company approved the 2005 Equity Incentive Plan (the “2005 Plan”). The 2005 Plan provides for the granting of options, restricted stock or other stock-based awards to employees, officers, directors, consultants and advisors. During 2010, the maximum number of shares of Common Stock that may be issued pursuant to the 2005 Plan was increased to 891,222 The Company’s Board adopted the 2014 Plan and the Employee Stock Purchase Plan (the “ESPP”), and the Company’s Stockholders approved the 2014 Plan and the ESPP Plan in February 2015. As of September 30, 2017, the maximum number of shares of Common Stock that may be issued pursuant to the 2014 Plan and the ESPP is 1,690,123 170,567 In January 2017, the number of shares of common stock issuable under the 2014 Plan automatically increased by 405,235 250,000 100,000 1,690,123 170,567 Weighted-Average Number of Weighted- Average Contractual Life Options Exercise Price (In Years) Outstanding at December 31, 2016 1,509,711 $ 2.85 5.04 Granted 482,950 1.44 9.60 Exercised (61,078) 0.67 Expired (73,283) 2.19 Outstanding at September 30, 2017 1,858,300 $ 2.62 5.61 Exercisable at September 30, 2017 1,188,317 $ 2.68 4.56 Vested and Expected to Vest at September 30, 2017 1,188,317 $ 2.68 4.56 Outstanding at December 31, 2015 1,277,367 $ 2.75 4.94 Granted 355,071 2.81 9.50 Exercised (86,765) 0.65 Forfeited (12,362) 3.93 Outstanding at September 30, 2016 1,533,311 $ 2.91 6.44 Exercisable at September 30, 2016 907,445 $ 2.84 4.09 Vested and Expected to Vest at September 30, 2016 907,445 $ 2.84 4.09 On January 31, 2017, the Board approved the grant of options to purchase 36,000 15,450 63,000 350,000 1,500 17,000 On February 6, 2017, the Board approved the grant of 104,000 On January 25, 2016, the Board approved the grant of options to purchase 48,300 47,786 114,438 41,732 102,815 All grants were issued pursuant to the 2014 Plan. In general, grants under the 2014 Plan vest 33.33% on the one-year anniversary of the grant date, and the remainder ratably over the 24-month period following the one-year anniversary. 2017 2016 Risk-Free Interest Rate 1.82% 1.82% Expected Life 7.28 years 7.00 years Expected Volatility 171% 65% Expected Dividend Yield 0% 0% Using the Black-Scholes Option Pricing Model, the estimated weighted average fair value of an option to purchase one share of common stock granted during the nine months ended September 30, 2017 and 2016 was $ 1.46 2.94 Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Research and Development $ 57,544 $ 17,092 $ 165,538 $ 35,692 General and Administrative 131,148 135,973 535,295 354,777 $ 188,692 $ 153,065 $ 700,833 $ 390,469 The fair value of options granted for the nine months ended September 30, 2017 and September 30, 2016 was approximately $ 550,000 720,000 158,000 0 1,113,000 1,209,000 2.12 2.35 242,000 597,000 78,000 207,000 At September 30, 2017, there were 170,416

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	9. Commitments and Contingencies Leases The Company is a party to a real property operating lease for the rental of office space in Waltham, Massachusetts of up to 4,516 2,300 The Company is a party to two nominal equipment capital lease agreements, one for a three-year term and one for a two-year term, for the use of scientific instruments in its Salt Lake City laboratory. License Agreements The Company is a party to six license agreements as described below. Four of the six license agreements require the Company to pay royalties or fees to the licensor based on Revenue related to the licensed technology, and the agreements with Valeant require Valeant to pay royalties to the Company based on revenue related to the licensed technology. On February 15, 1999, the Company entered in to an exclusive worldwide license agreement with the University of Miami School of Medicine to license technology relating to the Company’s EyeGate® II Delivery System. This agreement, which was amended in December 2005, requires the Company to pay to the University of Miami an annual license fee of $ 12,500 12 On July 23, 1999, the Company entered into a perpetual Transaction Protocol agreement with Francine Behar-Cohen to acknowledge the Company’s right to use certain patents that Ms. Behar-Cohen had certain ownership rights with respect to and which are used in the Company’s EGP-437 Combination Product. The agreement also provides for the Company to pay Ms. Behar-Cohen a fee based on a percentage of the pre-tax turnover generated from sales of the Company’s EGP-437 Combination Product relating to its inclusion of the EyeGate® II Delivery System. The fees due under the agreement are required to be paid until January 2018. On September 12, 2013, Jade entered into an agreement with BioTime, Inc. granting to it the exclusive worldwide right to commercialize cross-linked thiolated carboxymethyl hyaluronic acid (“CMHA-S”) for ophthalmic treatments in humans. The agreement calls for a license issue fee paid to BioTime of $ 50,000 On July 9, 2015, the Company entered into an exclusive worldwide licensing agreement with a subsidiary of Valeant through which EyeGate has granted Valeant exclusive, worldwide commercial and manufacturing rights to its EGP-437 Product in the field of anterior uveitis, as well as a right of last negotiation to license the EGP-437 Product for other indications. Under the agreement, Valeant paid the Company an upfront payment of $ 1.0 32.5 On June 17, 2016, the Company entered into an exclusive worldwide license agreement with the University of Utah Research Foundation to further the commercial development of the NASH technology, together with alkylated HA. The agreement calls for payments due to the University of Utah, consisting of a license grant fee of $ 15,000 5,000 20,000 On February 21, 2017, the Company entered into an exclusive, worldwide licensing agreement with a subsidiary of Valeant (the “New Valeant Agreement”), through which the Company granted Valeant exclusive, worldwide commercial and manufacturing rights to its EGP-437 Product in the field of ocular iontophoretic treatment for post-operative ocular inflammation and pain in ocular surgery patients (the “New Field”). Under the New Valeant Agreement, Valeant paid the Company an initial upfront payment of $ 4.0 the Company is eligible to receive milestone payments totaling up to approximately $99.0 million, upon and subject to the achievement of certain specified developmental and commercial progress of the EGP-437 Product for the New Field. In addition, the Company is eligible under the New Valeant Agreement to receive royalties based on a specified percent of net sales of its EGP-437 Product for the New Field

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2017
Postemployment Benefits [Abstract]
Compensation and Employee Benefit Plans [Text Block]	10. Employee Benefit Plans The Company has an employee benefit plan for its United States-based employees under Section 401(k) of the Internal Revenue Code. The Plan allows all eligible employees to make contributions up to a specified percentage of their compensation. Under the Plan, the Company may, but is not obligated to, match a portion of the employee contribution up to a defined maximum. The Company made no matching contribution for the nine months ended September 30, 2017 and 2016.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation [Policy Text Block]	Basis of Presentation and Principles of Consolidation The accompanying Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries, EyeGate Pharma S.A.S. and Jade, collectively referred to as “the Company”. All inter-company balances and transactions have been eliminated in consolidation. These Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information. Certain information and disclosures normally included in Condensed Consolidated Financial Statements prepared in accordance with U.S. GAAP have been condensed or eliminated. Accordingly, these unaudited Condensed Consolidated Financial Statements should be read in conjunction with the annual financial statements of the Company as of and for the year ended December 31, 2016.
Unaudited Interim Financial Information [Policy Text Block]	Unaudited Interim Financial Information The accompanying interim financial statements and related disclosures are unaudited, have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include normal recurring adjustments, necessary for a fair presentation of the results of operations for the periods presented. The year-end balance sheet was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The results of operations for an interim period are not necessarily indicative of the results to be expected for the full year or for any other future year or interim period.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of expenses during the reporting periods. The Company makes significant estimates and assumptions in recording the accruals for its clinical trial and research activities, establishing the useful lives of intangible assets and property and equipment, and conducting impairment reviews of long-lived assets. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Although the Company monitors and regularly assesses these estimates, actual results could differ significantly from these estimates. The Company records changes in estimates in the period that it becomes aware of the change.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Expenses The Company expenses research and development (“R&D”) expenditures as incurred. R&D expenses are comprised of costs incurred in performing R&D activities, including salaries, benefits, facilities, research-related overhead, sponsored research costs, contracted services, license fees, expenses related to generating, filing, and maintaining intellectual property and other external costs. Because the Company believes that, under its current process for developing its products, the viability of the products is essentially concurrent with the establishment of technological feasibility, no costs have been capitalized to date.
In Process Research and Development, Policy [Policy Text Block]	In-process Research and Development The Company records in-process R&D projects acquired in business combinations that have not reached technological feasibility and which have no alternative future use. For in-process R&D projects acquired in business combinations, the Company capitalizes the in-process R&D project and annually evaluates this asset for impairment until the R&D process has been completed or abandoned. Once the R&D process is complete, the Company amortizes the R&D asset over its remaining useful life. At September 30, 2017, the Company had recorded $ 3,912,314
Accrued Clinical Expenses [Policy Text Block]	Accrued Clinical Expenses As part of the Company’s process of preparing the Condensed Consolidated Financial Statements, the Company is required to estimate its accrued expenses. This process includes reviewing open contracts and purchase orders, communicating with its applicable personnel to identify services that have been performed on its behalf and estimating the level of service performed and the associated costs incurred for the service when the Company has not yet been invoiced or otherwise notified of actual costs. The majority of the Company’s service providers invoice monthly in arrears for services performed. The Company makes estimates of its accrued expenses as of each balance sheet date in the financial statements based on facts and circumstances known at the time. The Company periodically confirms the accuracy of these estimates with the service providers and makes adjustments if necessary.
Related Party Transactions [Policy Text Block]	Related Party Transactions The Company has entered into certain related-party transactions, making payments for services to one vendor, eight consultants and a public university, all of whom also are stockholders of the Company. These transactions generally are ones that involve a stockholder or option holder of the Company to whom we also make payments during the year, typically as a consultant or a service provider. The amounts recorded or paid are not material to the accompanying Condensed Consolidated Financial Statements.
Earnings Per Share, Policy [Policy Text Block]	Net Loss per Share September 30, September 30, 2017 2016 (unaudited) (unaudited) Common Stock Warrants 9,519,403 2,852,736 Employee Stock Options 1,858,300 1,533,311 Preferred Stock 400,000 545,000 Total Shares of Common Stock Issuable 11,777,703 4,931,047
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instrument The carrying amounts of Accounts Receivable and Accounts Payable approximate their fair values due to the short-term nature of these financial instruments. As of September 30, 2017, and December 31, 2016, the fair value of the Company’s money market funds and contingent consideration was $ 750,946 1,210,000 1,500,882 1,210,000 At September 30, 2017 and December 31, 2016, the Company had no other assets or liabilities that are subject to fair value methodology and estimation in accordance with FASB Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurement
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company follows Accounting Standards Update (“ASU”) 2009-13, Multiple-Deliverable Revenue Arrangements, Revenue Recognition-Milestone Method When evaluating multiple element arrangements, Company management considers whether the deliverables under the arrangement represent separate units of accounting. This evaluation requires subjective determinations and requires Company management to make judgments about individual deliverables, including whether such deliverable is separable from the other aspects of the contractual relationship. In determining a unit of accounting, Company management evaluates certain criteria, including whether the deliverable has standalone value, based on the consideration of the relevant facts and circumstances for each arrangement. The consideration received is allocated among each separate unit of accounting using the relative selling price method, and the applicable revenue recognition criteria is applied to each separate unit. The Company generally expects to recognize revenue attributable to a future license obtained on a straight-line basis over the Company’s contractual or estimated performance period, which is typically the term of the Company’s R&D obligation. If Company management cannot reasonably estimate when the Company’s performance obligation ends, then revenue is deferred until Company management can reasonably estimate when the performance obligation ends. The periods over which revenue should be recognized are subject to estimates by management and may change over the course of the R&D agreement. Such a change could have a material impact on the amount of revenue the Company records in future periods. At the inception of arrangements that include milestone payments, Company management evaluates whether each milestone is substantive and at risk to both parties on the basis of the contingent nature of the milestone. This evaluation includes an assessment of whether (a) the consideration is commensurate with either (1) the entity’s performance to achieve the milestone, or (2) the enhancement of the value of the delivered item(s) as a result of a specific outcome resulting from the entity’s performance to achieve the milestone, (b) the consideration relates solely to past performance, and (c) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. Company management evaluates factors such as the scientific, regulatory, commercial and other risks that must be overcome to achieve the respective milestone, the level of effort and investment required to achieve the respective milestone and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement in making this assessment. The Company has concluded that the clinical and development milestones pursuant to its R&D arrangements are substantive. The Company aggregates its milestones into four categories: (i) clinical and development milestones, (ii) the chemistry, manufacturing and controls (“CMC”) validation, (iii) regulatory milestones, and (iv) commercial milestones. Clinical and development milestones are typically achieved when a product candidate advances into a defined phase of clinical research or completes such phase or when a contractually specified clinical trial enrollment target is attained. CMC validation milestones are typically achieved when the validation paperwork is finalized. Regulatory milestones are typically achieved upon acceptance of the submission for marketing approval of a product candidate or upon approval to market the product candidate by the FDA or other global regulatory authorities. For example, a milestone payment may be due to the Company upon the FDA’s acceptance of an NDA. Commercial milestones are typically achieved when an approved pharmaceutical product reaches certain defined levels of net sales by the licensee, such as when a product first achieves global sales or annual sales of a specified amount. Revenues from clinical and development, CMC and regulatory milestone payments (if the milestones are deemed substantive and the milestone payments are nonrefundable) are recognized upon successful accomplishment of the milestones. Revenue from commercial milestone payments are accounted for as royalties and are recorded as Revenue upon achievement of the milestone, assuming all other revenue recognition criteria are met. Payments or reimbursements resulting from the Company’s R&D activities are recognized as the services are performed and are presented on a gross basis so long as there is persuasive evidence of an arrangement, the fee is fixed or determinable, and collection of the related receivable is reasonably assured. Amounts received prior to satisfying the above revenue recognition criteria are recorded as Deferred Revenue on the Condensed Consolidated Balance Sheet. On July 9, 2015, the Company entered into an exclusive, worldwide licensing agreement with a subsidiary of Valeant Pharmaceuticals International, Inc. (“Valeant”), through which the Company granted to Valeant an exclusive, worldwide commercial and manufacturing right to the Company’s EGP-437 Product in the field of anterior uveitis, as well as a right of last negotiation to license its EGP-437 Product for indications other than anterior uveitis (the “Valeant Agreement”). There are four principal R&D milestones under the Valeant Agreement: (i) the Phase 3 Clinical Trial, (ii) the Endothelial Cell Count Safety Trial (a trial to determine that treatment has not adversely affected a patient’s corneal endothelial cell density), (iii) the CMC Validation, and (iv) the New Drug Application, or “NDA”, filing with the FDA (collectively, the “Four Milestones”, and each individually, a “Milestone”). Under the Valeant Agreement, Valeant paid to the Company an initial upfront payment, and the Company is eligible to receive certain other payments, upon and subject to the achievement of certain specified development and commercial progress of the EGP-437 Product for the treatment of anterior uveitis. The Company received the initial up-front payment in 2015, which it recorded as Deferred Revenue on its Condensed Consolidated Balance Sheet, and later in 2015 began receiving certain additional payments, based on R&D progress, to continue over several years. The Company receives payments both when it crosses certain thresholds on the way to each Milestone (each, a “Progress Payment”), as well as once it achieves each Milestone. The Company is entitled to retain all of these payments. The Company defers each Progress Payment, capitalizes each payment on its Condensed Consolidated Balance Sheet as Deferred Revenue, and recognizes these payments in the aggregate as Revenue once it achieves the Milestone to which the Progress Payment relates. The Company recognizes the initial upfront payment as Revenue ratably as it completes each of the Four Milestones, the amount recognized being the total upfront payment times the percentage represented by the proportionate share of fair value of each Milestone relative to the total fair value of all Milestones. Accordingly, the Deferred Revenue account on the Condensed Consolidated Balance Sheet is reduced as Revenue is recognized in the Condensed Consolidated Statement of Operations and Comprehensive Loss. Due to longer enrollment time, the Company expects to begin recognizing Revenue with respect to the Valeant Agreement Progress Payments in the second quarter of 2018. On February 21, 2017, the Company entered into another exclusive, worldwide licensing agreement with a subsidiary of Valeant (the “New Valeant Agreement”), through which the Company granted Valeant exclusive, worldwide commercial and manufacturing rights to its EGP-437 Product in the field of ocular iontophoretic treatment for post-operative ocular inflammation and pain in ocular surgery patients (the “New Field”). Under the New Valeant Agreement, Valeant paid the Company an initial upfront payment of $ 4.0 1.428 The Company receives government grant funds from two sources: the U.S. Department of Defense (“DoD”) and the National Science Foundation (“NSF”). The Company is paid by the DoD after it performs specified, agreed-upon research, and it records these grant funds as Revenue as it performs the research. The Company is generally paid by the NSF before it performs specified, agreed-upon research. The Company records these NSF funds on our Condensed Consolidated Balance Sheet as Deferred Revenue when invoiced, and recognize these amounts as Revenue ratably as the research is performed, typically over a six-month period. The DoD and NSF have each committed to grant funds to Jade for specified ocular therapeutic research activities (together, the “U.S. Government Grants”) to be conducted through 2017, which have been fully funded as of September 30, 2017. The Company recognizes grant funds as Revenue when it performs the activities specified by the terms of the grant and is entitled to the funds.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In November 2016, FASB issued ASU No. 2016-18, Restricted Cash In February 2016, the FASB issued ASU No. 2016-02, Leases see In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606)

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	September 30, September 30, 2017 2016 (unaudited) (unaudited) Common Stock Warrants 9,519,403 2,852,736 Employee Stock Options 1,858,300 1,533,311 Preferred Stock 400,000 545,000 Total Shares of Common Stock Issuable 11,777,703 4,931,047

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property and equipment at September 30, 2017 (unaudited) and December 31, 2016 consists of the following: Estimated Useful Life September 30, December 31, (Years) 2017 2016 Laboratory Equipment 3 $ 42,576 $ 42,576 Less: Accumulated Depreciation 18,145 4,536 $ 24,431 $ 38,040

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2017
Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Accrued expenses consist of the following: September 30, 2017 December 31, (unaudited) 2016 Clinical Trials $ 977,882 $ 770,158 Payroll and Benefits 564,525 668,802 Professional Fees 163,703 174,342 Short-Term Portion of Capital Lease Obligation 12,645 12,645 Consulting 5,517 44,983 Total Accrued Expenses $ 1,724,272 $ 1,670,930

Warrants (Tables)

Warrants (Tables)	9 Months Ended
	Sep. 30, 2017
Warrants [Abstract]
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	At September 30, 2017, the following warrants were outstanding: Number of Weighted Weighted Outstanding at December 31, 2016 2,852,736 $ 7.45 4.26 Issued 6,666,667 1 1.50 2 4.71 Outstanding at September 30, 2017 9,519,403 $ 3.28 4.50 1 Consists of 6,666,667 6,666,667 2 Warrant exercise price for a full share of Common Stock.

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2017
Share Based Compensation Option And Incentive Plan [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following is a summary of stock option activity for the nine months ended September 30, 2017 and 2016: Weighted-Average Number of Weighted- Average Contractual Life Options Exercise Price (In Years) Outstanding at December 31, 2016 1,509,711 $ 2.85 5.04 Granted 482,950 1.44 9.60 Exercised (61,078) 0.67 Expired (73,283) 2.19 Outstanding at September 30, 2017 1,858,300 $ 2.62 5.61 Exercisable at September 30, 2017 1,188,317 $ 2.68 4.56 Vested and Expected to Vest at September 30, 2017 1,188,317 $ 2.68 4.56 Outstanding at December 31, 2015 1,277,367 $ 2.75 4.94 Granted 355,071 2.81 9.50 Exercised (86,765) 0.65 Forfeited (12,362) 3.93 Outstanding at September 30, 2016 1,533,311 $ 2.91 6.44 Exercisable at September 30, 2016 907,445 $ 2.84 4.09 Vested and Expected to Vest at September 30, 2016 907,445 $ 2.84 4.09
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	For the nine months ended September 30, 2017 and 2016, the fair value of each option grant has been estimated on the date of grant using the Black-Scholes Option Pricing Model with the following weighted-average assumptions: 2017 2016 Risk-Free Interest Rate 1.82% 1.82% Expected Life 7.28 years 7.00 years Expected Volatility 171% 65% Expected Dividend Yield 0% 0%
Employee and Non Employee Service Share Based Compensation Allocation off Recognized Period Costs [Table Text Block]	The total stock-based compensation expense for employees and non-employees is included in the accompanying Condensed Consolidated Statements of Operations and as follows: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Research and Development $ 57,544 $ 17,092 $ 165,538 $ 35,692 General and Administrative 131,148 135,973 535,295 354,777 $ 188,692 $ 153,065 $ 700,833 $ 390,469

Organization, Business (Details

Organization, Business (Details Textual) - USD ($)	Jun. 14, 2017	Feb. 21, 2017	Jun. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	May 06, 2016	Dec. 31, 2015
Subsidiary, Sale of Stock [Line Items]
Cash and Cash Equivalents, at Carrying Value				$ 9,244,570	$ 5,682,374	$ 3,635,224		$ 8,394,133
Retained Earnings (Accumulated Deficit)				(88,985,623)		$ (78,598,738)
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	6,666,667
Proceeds from Issuance of Common Stock	$ 8,800,000	$ 1,800,000		$ 11,922,252	$ 3,768,698
Warrant Expiration Date	Jun. 14, 2022
Capital Units, Authorized							100,000,000
Convertible Preferred Stock, Shares Issued upon Conversion	1,330,000		1,234,000
Proceeds from Issuance or Sale of Equity	$ 8,800,000		$ 3,400,000
Series A Preferred Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues			2,776.5
Series B Preferred Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	1,995
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	6,666,667
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	5,336,667	642,150	441,000	5,978,817

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Details) - shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	11,777,703	4,931,047
Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	400,000	545,000
Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	9,519,403	2,852,736
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,858,300	1,533,311

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Feb. 21, 2017	Sep. 30, 2017	Dec. 31, 2016
Money Market Funds Fair Value		$ 750,946	$ 1,500,882
Contingent Consideration Funds Fair Value		1,210,000	$ 1,210,000
Proceeds From Upfront Payment	$ 4,000,000
New Valeant Agreement [Member]
Revenue Recognition, Milestone Method, Description	the Company is eligible to receive milestone payments totaling up to approximately $99.0 million, upon and subject to the achievement of certain specified developmental and commercial progress of the EGP-437 Product for the New Field.
Proceeds From Upfront Payment	$ 4,000,000	1,428,000
Jade Therapeutics, Inc [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 3,912,314

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Less accumulated depreciation	$ 18,145	$ 4,536
Property, Plant and Equipment, Net	24,431	38,040
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 42,576	$ 42,576
Property, Plant and Equipment, Useful Life	3 years

Property and Equipment (Detai28

Property and Equipment (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Property, Plant and Equipment [Line Items]
Depreciation	$ 4,536	$ 404	$ 13,608	$ 649

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Accrued Expenses [Line Items]
Clinical Trials	$ 977,882	$ 770,158
Payroll and Benefits	564,525	668,802
Professional Fees	163,703	174,342
Short-Term Portion of Capital Lease Obligation	12,645	12,645
Consulting	5,517	44,983
Total Accrued Expenses	$ 1,724,272	$ 1,670,930

Capital Stock (Details Textual)

Capital Stock (Details Textual) - USD ($)	Jun. 14, 2017	Jun. 15, 2017	Feb. 21, 2017	Jun. 30, 2016	May 24, 2016	Mar. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Class of Stock [Line Items]
Common Stock, Shares Authorized							100,000,000		100,000,000
Common Stock, Par or Stated Value Per Share							$ 0.01		$ 0.01
Common Stock, Shares, Outstanding							17,204,778		10,130,883
Preferred Stock, Shares Authorized							9,995,828		9,997,223
Preferred Stock, Par or Stated Value Per Share							$ 0.01		$ 0.01
Convertible Preferred Stock, Shares Issued upon Conversion	1,330,000			1,234,000
Proceeds from Issuance or Sale of Equity	$ 8,800,000			$ 3,400,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.50
Sale of Stock, Number of Shares Issued in Transaction					1,319,289
Sale of Stock, Consideration Received on Transaction			$ 3,285,798
Proceeds from Issuance of Common Stock	$ 8,800,000		$ 1,800,000				$ 11,922,252	$ 3,768,698
Issuance of Common Stock, Description	the Company is restricted from issuing any shares pursuant to the ATM Agreement for a period of twenty-four months following the closing date of the offering. However, this restriction is suspended for any sale of shares of Common Stock under the ATM Agreement that is above $3.00 per share.
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	6,666,667
Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	5,336,667					642,150
Stock Issued During Period, Shares, Conversion of Convertible Securities	450,000
Convertible Preferred Stock, Shares Issued upon Conversion	6,666,667	480,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues				2,776.5
Preferred Stock, Shares Issued							0		0
Preferred Stock, Shares Outstanding							0		0
Common Stock, Other Shares, Outstanding							0
Preferred Stock Designated Shares							3,750		3,750
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	1,995
Preferred Stock, Shares Issued							600		0
Preferred Stock, Shares Outstanding							600		0
Conversion of Stock, Shares Converted	675	720					1,395
Common Stock, Other Shares, Outstanding							400,000		0
Preferred Stock Designated Shares							10,000		10,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	6,666,667

Warrants (Details)

Warrants (Details) - Warrant [Member] - $ / shares		9 Months Ended	12 Months Ended
		Sep. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards, Outstanding		2,852,736
Number of Awards, Issued	[1]	6,666,667
Number of Awards, Outstanding		9,519,403	2,852,736
Weighted Average Exercise Price, Outstanding		$ 7.45
Weighted Average Exercise Price, Issued	[2]	1.5
Weighted Average Exercise Price, Outstanding		$ 3.28	$ 7.45
Weighted Average Remaining Term in Years, Outstanding		4 years 6 months	4 years 3 months 4 days
Weighted Average Remaining Term in Years, Issued		4 years 8 months 16 days
[1]	Consists of 6,666,667 warrants to purchase 6,666,667 shares of Common Stock issued in connection with the Company’s public offering on June 14, 2017.
[2]	Warrant exercise price for a full share of Common Stock.

Warrants (Details Textual)

Warrants (Details Textual)	Jun. 14, 2017shares
Class Of Warrant Or Right Number Of Warrant Issued	6,666,667
Warrant [Member]
Stock Issued During Period, Shares, New Issues	6,666,667

Stockholder Notes Receivable (D

Stockholder Notes Receivable (Details Textual) - Receivables from Stockholder [Member] - USD ($)	Sep. 05, 2017	Oct. 01, 2012	Dec. 31, 2007
Debt Instrument [Line Items]
Interest Receivable	$ 32,230
Loss On Stockholder Debt Receivable Waived Off	$ 91,054
Receivable with Imputed Interest, Face Amount			$ 58,824
Receivable with Imputed Interest, Effective Yield (Interest Rate)		0.93%

Equity Incentive Plan (Details)

Equity Incentive Plan (Details) - Equity Incentive Plan 2014 [Member] - $ / shares	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Outstanding beginning of year	1,509,711	1,277,367	1,277,367
Number of Options, Granted	482,950	355,071
Number of Options, Exercised	(61,078)	(86,765)
Number of Options, Expired	(73,283)
Number of Options, Expired/Forfeited		(12,362)
Number of Options, Outstanding at end of period	1,858,300	1,533,311	1,509,711	1,277,367
Number of Options, Exercisable at end of period	1,188,317	907,445
Number of Options, Vested and expected to vest at end of period	1,188,317	907,445
Weighted- Average Exercise Price, Outstanding at beginning of year	$ 2.85	$ 2.75	$ 2.75
Weighted- Average Exercise Price, Granted	1.44	2.81
Weighted- Average Exercise Price, Exercised	0.67	0.65
Weighted- Average Exercise Price, Expired	2.19	3.93
Weighted- Average Exercise Price, Outstanding at end of period	2.62	2.91	$ 2.85	$ 2.75
Weighted- Average Exercise Price, Exercisable at end of period	2.68	2.84
Weighted- Average Exercise Price, Vested and expected to vest at end of period	$ 2.68	$ 2.84
Weighted-Average Contractual Life (In Years), Outstanding	5 years 7 months 10 days	6 years 5 months 8 days	5 years 14 days	4 years 11 months 8 days
Weighted-Average Contractual Life (In Years), Granted	9 years 7 months 6 days	9 years 6 months
Weighted-Average Contractual Life (In Years), Exercisable at end of period	4 years 6 months 22 days	4 years 1 month 2 days
Weighted-Average Contractual Life (In Years), Vested and expected to vest at end of period	4 years 6 months 22 days	4 years 1 month 2 days

Equity Incentive Plan (Details

Equity Incentive Plan (Details 1)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Risk-Free Interest Rate	1.82%	1.82%
Expected Life	7 years 3 months 11 days	7 years
Expected Volatility	171.00%	65.00%
Expected Dividend Yield	0.00%	0.00%

Equity Incentive Plan (Detail36

Equity Incentive Plan (Details 2) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost	$ 188,692	$ 153,065	$ 700,833	$ 390,469
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost	57,544	17,092	165,538	35,692
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost	$ 131,148	$ 135,973	$ 535,295	$ 354,777

Equity Incentive Plan (Detail37

Equity Incentive Plan (Details Textual) - USD ($)

Feb. 06, 2017

Sep. 30, 2017

Sep. 30, 2016

Sep. 28, 2017

Jun. 30, 2017

Jun. 21, 2017

May 18, 2017

Jan. 31, 2017

Jun. 30, 2016

Apr. 25, 2016

Mar. 29, 2016

Mar. 07, 2016

Jan. 25, 2016

Dec. 31, 2010

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized

$ 1,113,000

$ 1,209,000

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition

2 years 1 month 13 days

2 years 4 months 6 days

Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Intrinsic Value

$ 242,000

$ 597,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value

78,000

$ 207,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value

$ 550,000

$ 720,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value

$ 1.46

$ 2.94

Three Consultants [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

36,000

Three Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

15,450

Two Employees And Four Consultants [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

63,000

Six s Of The Board, Six Employees, And One Consultant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

350,000

Employee Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

102,815

41,732

114,438

Employee Stock Option [Member] | Two Executive And Seven Members [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

48,300

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights

These vest 33.33% on the one-year anniversary of the grant date, and the remainder ratably over the 24-month period following the one-year anniversary. As of September 30, 2017, none of these shares were vested.

Employee Stock Option [Member] | Two Executive [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

47,786

Equity Incentive Plan 2005 [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized

891,222

Equity Incentive Plan 2014 [Member] | Employee Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

17,000

1,500

ESPP [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

170,567

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized

170,567

Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized

100,000

2005 And 2014 Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

170,416

2014 Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

1,690,123

1,690,123

Excess Stock, Shares Authorized

405,235

Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized

250,000

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value

$ 158,000

$ 0

Restricted Stock [Member] | Eight Employees [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

104,000

Commitments and Contingencies (

Commitments and Contingencies (Details Textual)	Jul. 09, 2015USD ($)	Sep. 12, 2013USD ($)	Feb. 21, 2017USD ($)	Jun. 17, 2016USD ($)	Feb. 15, 1999USD ($)	Sep. 30, 2017USD ($)ft²	Jul. 06, 2016ft²
Commitments and Contingencies [Line Items]
Area of Land | ft²							2,300
License Expiration Period					12 years
License Costs		$ 50,000		$ 15,000	$ 12,500
Proceeds From Upfront Payment			$ 4,000,000
Minimum [Member]
Commitments and Contingencies [Line Items]
License Costs				5,000
Maximum [Member]
Commitments and Contingencies [Line Items]
License Costs				$ 20,000
New Valeant Agreement [Member]
Commitments and Contingencies [Line Items]
Proceeds From Upfront Payment						$ 4,000,000
New Valeant Agreement [Member] | Employee Stock Option [Member] | Two Executive And Seven Members [Member]
Commitments and Contingencies [Line Items]
Revenue Recognition, Milestone Method, Description			the Company is eligible to receive milestone payments totaling up to approximately $99.0 million, upon and subject to the achievement of certain specified developmental and commercial progress of the EGP-437 Product for the New Field. In addition, the Company is eligible under the New Valeant Agreement to receive royalties based on a specified percent of net sales of its EGP-437 Product for the New Field
Licensor [Member]
Commitments and Contingencies [Line Items]
Area of Land | ft²						4,516
Valeant Pharmaceuticals International Inc [Member] | Licensing Agreements [Member]
Commitments and Contingencies [Line Items]
Payments to Acquire Intangible Assets	$ 1,000,000
Proceeds from Sale of Intangible Assets	$ 32,500,000