CorMedix (CRMD) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 04, 2020
Document Information Line Items
Entity Registrant Name	CORMEDIX INC.
Trading Symbol	CRMD
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		32,132,492
Amendment Flag	false
Entity Central Index Key	0001410098
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-34673
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5894890
Entity Address, Address Line One	400 Connell Drive
Entity Address, Address Line Two	Suite 5000
Entity Address, City or Town	Berkeley Heights
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07922
City Area Code	(908)
Local Phone Number	517-9500
Title of 12(b) Security	Common stock, $0.001 par value
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 34,364,560	$ 16,350,237
Restricted cash	182,892	174,950
Short-term investments	2,674,770	11,984,157
Trade receivables	6,118	35
Inventories, net	200,706	338,465
Prepaid research and development expenses	76,182	34,831
Security deposit	20,000	20,000
Other prepaid expenses and current assets	1,340,239	446,415
Total current assets	38,865,467	29,349,090
Property and equipment, net	115,092	122,130
Operating lease right-of-use assets	1,041,991	4,690
TOTAL ASSETS	40,022,550	29,475,910
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	1,986,100	1,024,280
Accrued expenses	2,516,841	4,798,475
Operating lease liabilities, short-term	98,072	2,011
Deferred revenue		2,206
Total current liabilities	4,601,013	5,826,972
Operating lease liabilities, net of current portion	952,318	2,678
TOTAL LIABILITIES	5,553,331	5,829,650
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY
Preferred stock - $0.001 par value: 2,000,000 shares authorized; 241,623 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	242	242
Common stock - $0.001 par value: 160,000,000 shares authorized; 31,348,171 and 25,665,350 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	31,348	25,665
Accumulated other comprehensive income	99,659	97,257
Additional paid-in capital	245,699,880	218,944,268
Accumulated deficit	(211,361,910)	(195,421,172)
TOTAL STOCKHOLDERS’ EQUITY	34,469,219	23,646,260
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 40,022,550	$ 29,475,910

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	2,000,000	2,000,000
Preferred stock, issued	241,623	241,623
Preferred stock, outstanding	241,623	241,623
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	160,000,000	160,000,000
Common stock, shares issued	31,348,171	25,665,350
Common stock, shares outstanding	31,348,171	25,665,350

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue:
Net sales	$ 93,020	$ 59,530	$ 183,517	$ 258,488
Cost of sales	(79,913)	(79,026)	(147,614)	(327,109)
Gross profit (loss)	13,107	(19,496)	35,903	(68,621)
Operating Expenses:
Research and development	(2,925,355)	(2,520,992)	(11,082,764)	(8,375,896)
Selling, general and administrative	(3,691,507)	(2,631,027)	(10,089,252)	(7,187,535)
Total Operating Expenses	(6,616,862)	(5,152,019)	(21,172,016)	(15,563,431)
Loss From Operations	(6,603,755)	(5,171,515)	(21,136,113)	(15,632,052)
Other Income (Expense):
Interest income	10,843	92,094	113,125	246,880
Foreign exchange transaction loss	(35)	(12,997)	(59,241)	(23,283)
Interest expense, including amortization of debt discount	(7,800)	(172,429)	(27,904)	(781,212)
Total Other Income (Expense)	3,008	(93,332)	25,980	(557,615)
Loss before income taxes	(6,600,747)	(5,264,847)	(21,110,133)	(16,189,667)
Tax benefit			5,169,395	5,060,778
Net Loss	(6,600,747)	(5,264,847)	(15,940,738)	(11,128,889)
Other Comprehensive Income (Loss):
Unrealized (loss) gain from investments	(8,414)	(3,125)	(193)	4,714
Foreign currency translation gain	2,483	786	2,595	765
Total Other Comprehensive Income (Loss)	(5,931)	(2,339)	2,402	5,479
Comprehensive Loss	(6,606,678)	(5,267,186)	(15,938,336)	(11,123,410)
Net Loss	(6,600,747)	(5,264,847)	(15,940,738)	(11,128,889)
Deemed dividend as a result of warrant modification		(369,500)		(369,500)
Deemed dividend as a result of exchange of convertible note and Series C-2, D and F preferred stock, related party		(26,733,098)		(26,733,098)
Net Loss Attributable to Common Shareholders	$ (6,600,747)	$ (32,367,445)	$ (15,940,738)	$ (38,231,487)
Net Loss Per Common Share – Basic and Diluted (in Dollars per share)	$ (0.22)	$ (1.35)	$ (0.58)	$ (1.62)
Weighted Average Common Shares Outstanding – Basic and Diluted (in Shares)	29,601,412	24,015,927	27,276,648	23,642,033

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($)	Common Stock	Preferred Stock – Series C-3, Series E and Series G	Accumulated Other Comprehensive Income (Loss)	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2018	$ 21,775	$ 420	$ 96,522	$ 183,803,637	$ (178,988,098)	$ 4,934,256
Balance (in Shares) at Dec. 31, 2018	21,775,173	419,585
Stock issued in connection with ATM sale of common stock, net	$ 1,768			15,232,761		15,234,529
Stock issued in connection with ATM sale of common stock, net (in Shares)	1,768,012
Stock issued in connection with warrants exercised	$ 1,945			8,656,288		8,658,233
Stock issued in connection with warrants exercised (in Shares)	1,944,707
Exchange of convertible note for Series G preferred stock, related party				8,900,264		8,900,264
Exchange of Series C-2, Series D and Series F preferred stock for Series G preferred stock, related party		$ (226)		226
Exchange of Series C-2, Series D and Series F preferred stock for Series G preferred stock, related party (in Shares)		(225,962)
Issuance of Series G preferred stock, related party		$ 100				100
Issuance of Series G preferred stock, related party (in Shares)		100,000
Stock issued in connection with stock options exercised	$ 37			117,492		117,529
Stock issued in connection with stock options exercised (in Shares)	36,590
Conversion of Series C-3 non-voting preferred stock to common stock	$ 100	$ (50)		(50)
Conversion of Series C-3 non-voting preferred stock to common stock (in Shares)	100,000	(50,000)
Issuance of vested restricted stock	$ 19			(19)
Issuance of vested restricted stock (in Shares)	19,425
Issuance of common stock as a result of reverse stock split rounding	$ 7			(7)
Issuance of common stock as a result of reverse stock split rounding (in Shares)	6,522
Stock-based compensation				1,986,274		1,986,274
Other comprehensive income (loss)			5,479			5,479
Net loss					(11,128,889)	(11,128,889)
Balance at Sep. 30, 2019	$ 25,651	$ 244	102,001	218,696,866	(190,116,987)	28,707,775
Balance (in Shares) at Sep. 30, 2019	25,650,429	243,623
Balance at Jun. 30, 2019	$ 23,821	$ 370	104,340	201,198,660	(184,852,140)	16,475,051
Balance (in Shares) at Jun. 30, 2019	23,820,334	369,585
Stock issued in connection with warrants exercised	$ 1,823			8,022,348		8,024,171
Stock issued in connection with warrants exercised (in Shares)	1,822,862
Exchange of convertible note for Series G preferred stock, related party				8,900,264		8,900,264
Exchange of Series C-2, Series D and Series F preferred stock for Series G preferred stock, related party		$ (226)		226
Exchange of Series C-2, Series D and Series F preferred stock for Series G preferred stock, related party (in Shares)		(225,962)
Issuance of Series G preferred stock, related party		$ 100				100
Issuance of Series G preferred stock, related party (in Shares)		100,000
Stock issued in connection with stock options exercised	$ 1			4,762		4,763
Stock issued in connection with stock options exercised (in Shares)	750
Issuance of vested restricted stock	$ 6			(6)
Issuance of vested restricted stock (in Shares)	6,483
Stock-based compensation				570,612		570,612
Other comprehensive income (loss)			(2,339)			(2,339)
Net loss					(5,264,847)	(5,264,847)
Balance at Sep. 30, 2019	$ 25,651	$ 244	102,001	218,696,866	(190,116,987)	28,707,775
Balance (in Shares) at Sep. 30, 2019	25,650,429	243,623
Balance at Dec. 31, 2019	$ 25,665	$ 242	97,257	218,944,268	(195,421,172)	23,646,260
Balance (in Shares) at Dec. 31, 2019	25,665,350	241,623
Stock issued in connection with public offering, net	$ 5,111			21,315,059		21,320,170
Stock issued in connection with public offering, net (in Shares)	5,111,110
Stock issued in connection with ATM sale of common stock, net	$ 478			3,045,252		3,045,730
Stock issued in connection with ATM sale of common stock, net (in Shares)	477,721
Stock issued in connection with warrants exercised	$ 92			411,659		411,751
Stock issued in connection with warrants exercised (in Shares)	91,500
Issuance of vested restricted stock	$ 2			(2)
Issuance of vested restricted stock (in Shares)	2,490
Stock-based compensation				1,983,644		1,983,644
Other comprehensive income (loss)			2,402			2,402
Net loss					(15,940,738)	(15,940,738)
Balance at Sep. 30, 2020	$ 31,348	$ 242	99,659	245,699,880	(211,361,910)	34,469,219
Balance (in Shares) at Sep. 30, 2020	31,348,171	241,623
Balance at Jun. 30, 2020	$ 26,127	$ 242	105,590	223,150,674	(204,761,163)	18,521,470
Balance (in Shares) at Jun. 30, 2020	26,127,379	241,623
Stock issued in connection with public offering, net	$ 5,111			21,315,059		21,320,170
Stock issued in connection with public offering, net (in Shares)	5,111,110
Stock issued in connection with ATM sale of common stock, net	$ 110			622,707		622,817
Stock issued in connection with ATM sale of common stock, net (in Shares)	109,577
Issuance of vested restricted stock
Issuance of vested restricted stock (in Shares)	105
Stock-based compensation				611,440		611,440
Other comprehensive income (loss)			(5,931)			(5,931)
Net loss					(6,600,747)	(6,600,747)
Balance at Sep. 30, 2020	$ 31,348	$ 242	$ 99,659	$ 245,699,880	$ (211,361,910)	$ 34,469,219
Balance (in Shares) at Sep. 30, 2020	31,348,171	241,623

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (15,940,738)	$ (11,128,889)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	1,983,644	1,986,274
Amortization of debt discount		313,097
Non-cash interest expense		461,839
Non-cash operating lease expense	5,721
Inventory reserve	20,673
Depreciation	47,284	56,568
Changes in operating assets and liabilities:
(Increase) decrease in trade receivables	(5,833)	6,634
Decrease in inventory	110,889	45,010
Increase in prepaid expenses and other current assets	(928,788)	(155,484)
Increase (decrease) in accounts payable	961,641	(1,533,649)
Decrease in accrued expenses	(2,286,439)	(1,212,100)
Decrease in deferred revenue	(2,206)	(6,618)
Net cash used in operating activities	(16,034,152)	(11,167,318)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of short-term investments	(5,870,456)	(13,716,503)
Maturity of short-term investments	15,179,649	1,426,927
Purchase of equipment	(35,553)	(27,142)
Net cash provided by (used in) investing activities	9,273,640	(12,316,718)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the public offering, net	21,320,170
Proceeds from sale of common stock from at-the-market program, net	3,045,730	15,234,529
Proceeds from exercise of warrants	411,751	8,658,233
Proceeds from exchange agreement, related party		2,000,000
Proceeds from exercise of stock options		117,529
Net cash provided by financing activities	24,777,651	26,010,291
Foreign exchange effect on cash	5,126	(6,232)
NET INCREASE IN CASH	18,022,265	2,520,023
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – BEGINNING OF PERIOD	16,525,187	17,795,323
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – END OF PERIOD	34,547,452	20,315,346
Cash paid for interest	27,904	6,276
Supplemental Disclosure of Non-Cash Financing Activities:
Deemed dividend as a result of warrant modification		369,500
Deemed dividend as a result of exchange of convertible note, Series C-2, Series D and Series F convertible preferred stock, related party		26,733,098
Conversion of preferred stock to common stock		50
Unrealized gain (loss) from investments	(193)	4,714
Right-of-use assets obtained in exchange for lease liability	1,042,000	5,000
Issuance of common stock for vested restricted stock units	$ 2	$ 19

Organization, Business and Basi

Organization, Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Organization, Business and Basis of Presentation	Note 1 — Organization, Business and Basis of Presentation: Organization and Business CorMedix Inc., together with its wholly owned subsidiaries (collectively “CorMedix” or the “Company”), is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The Company’s primary focus is on the development of its lead product candidate, Defencath ™ The Company has in-licensed the worldwide rights to develop and commercialize Defencath and Neutrolin. The CLS is a formulation of 1.35% taurolidine, 3.5% citrate, and 1000 u/ml heparin and is regulated by the FDA as an investigational new drug, where it is being developed to prevent catheter-related blood stream infections, or CRBSIs, and thrombosis in patients using central venous catheters, or CVCs, for hemodialysis. CRBSIs and thrombosis represent key complications among hemodialysis, intensive care, cancer and total parenteral nutrition, or TPN, patients with CVCs. These complications can lead to treatment delays and increased costs to the healthcare system when they occur due to hospitalizations, need for intravenous, or IV, antibiotic treatment, long-term anticoagulation therapy, removal/replacement of the CVC, related treatment costs and increased mortality. The Company initially expects to sell Defencath directly to dialysis centers and hospitals, but also plans to expand its usage into intensive care, oncology and TPN patients using central venous catheters. The Company believes Defencath addresses a significant unmet medical need and a potential large market opportunity in the U.S. In late 2013, the Company met with the FDA to determine the regulatory pathway for U.S. marketing approval of Defencath and began discussions on the clinical development program. In January 2015, the FDA granted Fast Track designation to Defencath, which is a program designed to facilitate development of drugs that are intended to treat serious and life-threatening conditions and to address an unmet medical need. Fast Track designation provides eligibility to request Priority Review of the marketing application. Also, in January 2015, the FDA designated Defencath as a Qualified Infectious Disease Product, or QIDP, which provides an additional five years of marketing exclusivity to be added to any exclusivity for which the application qualifies upon approval. For example, an additional five years of marketing exclusivity will be added to the five years granted to a New Chemical Entity, or the NCE, upon approval of the NDA. QIDP designation also confers eligibility for Priority Review of the NDA. The Company launched its Phase 3 Prospective, Multicenter, Double-blind, Randomized, Active Control Study to Demonstrate Safety & Effectiveness of Defencath/Neutrolin in Preventing Catheter related Bloodstream Infection in Subjects on Hemodialysis for End Stage Renal Disease, or LOCK-IT-100, in patients with hemodialysis catheters in the U.S. in December 2015. The clinical trial was designed to demonstrate the safety and effectiveness of Defencath compared to the standard of care CLS, Heparin, in preventing CRBSIs. The primary endpoint for the trial assessed the incidence of CRBSI and time to CRBSI for each study subject. Secondary endpoints were catheter patency, which was defined as required use of tissue plasminogen activating factor (“tPA”), or removal of catheter due to dysfunction, and removal of catheter for any reason. In July 2018, 28 potential cases of CRBSI were identified in LOCK-IT-100 that occurred through early December 2017. As previously agreed with the FDA, an interim efficacy analysis was performed. Based on these first 28 cases, there was a highly statistically significant 72% reduction in CRBSI by Defencath relative to the active control of heparin (p=0.0034). Because the pre-specified level of statistical significance was reached for the primary endpoint and efficacy had been demonstrated with no safety concerns, the independent Data Safety Monitoring Board, or the DSMB, recommended early termination. Following discussions with the FDA, we proceeded with an orderly termination of LOCK-IT-100. The study had continued enrolling and treating subjects until study termination, and the final analysis was based on a total of 795 subjects. The Company remained blinded until the topline results of the full data set of LOCK-IT-100 were announced in late January 2019. In a total of 41 cases, there was a 71% reduction in CRBSI by Defencath relative to heparin, which was highly statistically significant (p=0.0006), with a good safety profile. During 2019, CorMedix had a series of meetings with the FDA to discuss the analyses of data from LOCK-IT-100, including an end of Phase 3 meeting, a pre-NDA meeting and a CMC meeting, in preparation for submission of the NDA. The FDA granted the Company’s request for a rolling submission and review of the NDA, which is designed to expedite the approval process for products being developed to address an unmet medical need. Although the FDA usually requires two pivotal clinical trials to provide substantial evidence of safety and effectiveness for approval of an NDA, the FDA will in some cases accept one adequate and well-controlled trial, where it is a large multicenter trial with a broad range of subjects and study sites that has demonstrated a clinically meaningful and statistically very persuasive effect on a disease with potentially serious outcome. In March 2020, the Company began the modular submission process for the NDA for Defencath for the prevention of CRBSI in hemodialysis patients, and recently announced on July 8, 2020, that submission of all modules for the NDA was completed. In August 2020, the FDA accepted for filing the Defencath NDA and also granted the Company’s request for Priority Review. Priority Review provides for six-month review period instead of the standard ten-month review period, and February 28, 2021 has been set as the Prescription Drug User Fee Act, or PDUFA, date for the completion of the review for approval of the NDA. The FDA noted that it is planning to hold an advisory committee meeting to discuss the application and that it had not identified any potential review issues at this time. The meeting of the Antimicrobial Drugs Advisory Committee to discuss the Defencath NDA has tentatively been scheduled for January 14, 2021. The Company has not been informed of any delays by the FDA in the review of the NDA, but the FDA has limited international and domestic travel due to COVID-19, and pre-approval inspections are required for manufacturing sites. The FDA also previously agreed that the Company could request consideration of Defencath for approval under the Limited Population Pathway for Antibacterial and Antifungal Drugs, or LPAD. LPAD, passed as part of the 21 st The Company was granted a deferral by the FDA under the Pediatric Research Equity Act, or PREA, that requires sponsors to conduct pediatric studies for NDAs for a new active ingredient, such as taurolidine in Defencath, unless a waiver or deferral is obtained from the FDA. A deferral acknowledges that a pediatric assessment is required but permits the applicant to submit the pediatric assessment after the submission of an NDA. The Company has made a commitment to conduct the pediatric study after approval of the NDA for use in adult hemodialysis patients. Pediatric studies for an approved product conducted under PREA may qualify for pediatric exclusivity, which if granted would provide an additional six months of marketing exclusivity. Defencath would then have the potential to receive a total marketing exclusivity period of 10.5 years, including exclusivity pursuant to NCE and QIDP. The Company anticipates that Medicare reimbursement could be available for Defencath in hemodialysis and other catheter indications in intensive care, oncology and TPN through relevant hospital inpatient diagnosis-related groups, or DRGs, or outpatient ambulatory payment classifications, or APCs, the End-Stage Renal Disease Prospective Payment System, or ESRD PPS, base payment, or under the Durable Medical Equipment, Prosthetics, Orthotics, and Supplies, or DMEPOS, Fee Schedule, depending on the setting of care. The Company also plans to seek separate reimbursement as a drug, where available under Medicare, through mechanisms such as pass-through status under the Hospital Outpatient Prospective Payment System, the transitional drug add-on payment adjustment, or TDAPA, under the ESRD PPS, or reimbursement as a drug used with a DMEPOS infusion pump. The Company has engaged U.S. Centers for Medicare & Medicaid Services, or CMS, in preliminary discussions concerning the reimbursement for Defencath under TDAPA, however, qualifications cannot be determined until after FDA approval and CMS evaluates the request for coverage in a quarterly review. If approved under TDAPA, reimbursement of Defencath would be calculated based on its average selling price. Although the Company cannot fully anticipate changes in reimbursement requirements and mechanisms in the coming years, the Company expects Defencath would be eligible for and would obtain TDAPA. To be eligible for TDAPA, an innovative new renal drug or biologic must be, among other things, identified as having an end action effect that treats or manages a condition or conditions associated with ESRD and as not fitting into an established ESRD PPS functional category. The Company believes that in addition to the Fast Track and QIDP designations granted by the FDA, Defencath meets the criterion of being a new renal dialysis product used to treat or manage a condition associated with ESRD, since infections are the second leading cause of death in patients with ESRD and CVCs are a significant risk factor for infection-associated mortality. In the EU, Neutrolin is regulated as a Class 3 medical device. In July 2013, the Company received CE Mark approval for Neutrolin. In December 2013, the Company started commercial sales of Neutrolin in Germany for the prevention of CRBSI, and maintenance of catheter patency in hemodialysis patients using a tunneled, cuffed CVC for vascular access. To date, Neutrolin is registered and may be sold in certain European Union and Middle Eastern countries for such treatment. In September 2014, the TUV-SUD and The Medicines Evaluation Board of the Netherlands, or MEB, granted a label expansion for Neutrolin, to include use in oncology patients receiving chemotherapy, IV hydration and IV medications via CVC for the EU. In December 2014, the Company received approval from the Hessian District President in Germany to expand the label for these same expanded indications. The expansion also adds patients receiving medication and IV fluids via CVC in intensive or critical care units (cardiac care unit, surgical care unit, neonatal critical care unit, and urgent care centers). An indication for use in total parenteral nutrition was also approved. In May 2020, the Company formed a wholly-owned Spanish subsidiary, CorMedix Spain, S.L.U. The Company intends to pursue additional indications for Defencath use as a CLS in populations with an unmet medical need that also represent a significant market opportunity. For example, the Company intends to pursue marketing authorization in the U.S. for use as a CLS to reduce CRBSIs in oncology and total parenteral nutrition patients using a CVC. In addition to the CLS, the Company is sponsoring a pre-clinical research collaboration for the use of taurolidine as a possible treatment for pediatric tumors. In February 2018, the FDA granted orphan drug designation to taurolidine for the treatment of neuroblastoma in children. The Company may seek one or more strategic partners or other sources of capital to help with the development and commercialization of taurolidine for the treatment of neuroblastoma in children. The Company is also evaluating opportunities for the possible expansion of taurolidine as a platform compound for use in certain medical devices. Patent applications have been filed in several indications, including wound closure, surgical meshes, and wound management. Based on initial feasibility work, the Company is advancing pre-clinical studies for taurolidine-infused surgical meshes, suture materials and hydrogels. The Company will seek to establish development/commercial partnerships as these programs advance. The FDA regards taurolidine as an NCE and therefore it is currently an unapproved new drug. The Company may in the future pursue product candidates that would involve devices impregnated with taurolidine, and the Company believes that at the current time such products would be combination products subject to device premarket submission requirements, while subject also, under review by the FDA, to the standards for drug approvability. Consequently, given that there is no appropriate predicate medical device currently marketed in the U.S. on which a 510(k) approval process could be based and that taurolidine is not yet approved in any application, the Company anticipates that it would be required to submit a premarket approval application, or PMA, for marketing authorization for any medical device indications that the Company may pursue for devices containing taurolidine. In the event that an NDA for Defencath is approved by the FDA, the regulatory pathway for these medical device product candidates may be revisited with the FDA. Although there may be no appropriate predicate, de novo Class II designation can be proposed, based on a risk assessment and a reasonable assurance of safety and effectiveness. In December 2019, the novel coronavirus disease, COVID-19, was identified in Wuhan, China. This virus has been declared a pandemic and has spread to multiple global regions. The outbreak and government measures taken in response have also had a significant impact, both direct and indirect, on businesses and commerce, as worker shortages have occurred; supply chains have been disrupted; facilities and production have been suspended; and demand for certain goods and services, such as medical services and supplies, has spiked, while demand for other goods and services, such as travel, has fallen. In response to the COVID-19 outbreak, “shelter in place” orders and other public health guidance measures have been implemented across much of the United States, Europe and Asia, including in the locations of the Company’s offices, clinical trial sites, key vendors and partners. The Company’s program timelines may be negatively affected by COVID-19, which could materially and adversely affect its business, financial condition and results of operations. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, for interim financial information and with the instructions for Form 10-Q and Article 8 of Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements do not include all information and footnotes required by GAAP for complete annual financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary to fairly state the interim results. Interim operating results are not necessarily indicative of results that may be expected for the full year ending December 31, 2020 or for any subsequent period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto of the Company which are included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, on March 16, 2020. The accompanying condensed consolidated balance sheet as of December 31, 2019 has been derived from the audited financial statements included in such Form 10-K. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board, or FASB, issued new guidance which replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This adoption on January 1, 2020 did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued a new guidance which modifies the disclosure requirements on fair value measurements. The guidance was effective for the Company beginning in the first quarter of fiscal year 2020. This adoption on January 1, 2020 did not have a material impact on the Company’s condensed consolidated financial statements. In November 2018, the FASB issued new guidance to clarify the interaction between the authoritative guidance for collaborative arrangements and revenue from contracts with customers. The new guidance clarifies that, when the collaborative arrangement participant is a customer in the context of a unit-of-account, revenue from contracts with customers guidance should be applied, adds unit-of-account guidance to collaborative arrangements guidance, and that, in a transaction with a collaborative arrangement participant who is not a customer, precludes presenting the transaction together with revenue recognized under contracts with customers. The guidance was effective for the Company beginning in the first quarter of fiscal year 2020. This adoption on January 1, 2020 did not have a material impact on the Company’s condensed consolidated financial statements. In November 2019, the FASB issued new guidance which requires that an entity measure and classify share-based payment awards granted to a customer by applying the guidance in FASB’s Accounting Standards Codification, or ASC, 718. The guidance was effective for the Company beginning in the first quarter of fiscal year 2020. This adoption on January 1, 2020 did not have a material impact on the Company’s condensed consolidated financial statements. Recently Issued Authoritative Pronouncements In December 2019, the FASB issued new guidance which removes certain exceptions to the general principles of the accounting for income taxes and also improves consistent application of and simplification of other areas when accounting for income taxes. The guidance is effective for the company beginning in the first quarter of fiscal year 2021. Early adoption is permitted. The Company is assessing the impact of adopting this guidance on its consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies: Liquidity and Uncertainties The financial statements have been prepared in conformity with GAAP which contemplate continuation of the Company as a going concern. To date, the Company’s commercial operations have not generated sufficient revenues to enable profitability. As of September 30, 2020, the Company had an accumulated deficit of $211.4 million, and incurred losses from operations of $6.6 million and $5.3 million for the three months ended September 30, 2020 and 2019, respectively, and $15.9 million and $11.1 million for the nine months ended September 30, 2020 and 2019, respectively. The Company currently estimates that as of September 30, 2020 it has sufficient cash, cash equivalents and short-term investments on hand to fund operations for at least twelve months after the filing date of this report, after taking into consideration the net proceeds received through October 14, 2020 from the At-the-Market Issuance Sales Agreement (the “ATM program”) of $4.6 million (see Note 7) and the costs for the initial preparations for commercial launch for Defencath. In April 2020, the Company received approximately $5.2 million, net of expenses, from the sale of most of its remaining unused New Jersey net operating losses, or NOL, eligible for sale under the State of New Jersey’s Economic Development Authority’s New Jersey Technology Business Tax Certificate Transfer program, or NJEDA Program. The NJEDA Program allowed the Company to sell approximately $5.5 million of its total $6.0 million in available NOL tax benefits for the state fiscal year 2019. In April 2020, the Company received from the FDA a refund for the NDA application fee in the amount of $2.9 million, which was paid in the first quarter of 2020. The Company met the conditions of the Federal Food, Drug, and Cosmetic Act for the small business waiver of the user fees and its request for a waiver of an application user fee was granted by the FDA. The Company’s continued operations will depend on its ability to raise additional capital through various potential sources, such as equity and/or debt financings, strategic relationships, or out-licensing of its products, to commercially launch Defencath upon NDA approval, and until profitability is achieved, if ever. Management can provide no assurances that such financing or strategic relationships will be available on acceptable terms, or at all. At September 30, 2020, the Company had approximately $8.7 million available under its ATM program (see Note 3). The Company’s operations are subject to a number of other factors that can affect its operating results and financial condition. Such factors include, but are not limited to: the ability to obtain regulatory approval to market the Company’s products; ability to manufacture successfully; competition from products manufactured and sold or being developed by other companies; the price of, and demand for, Company products; the Company’s ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products; the results of clinical testing and trial activities of the Company’s product candidates; and the Company’s ability to raise capital to support its operations. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Basis of Consolidation The condensed consolidated financial statements include the accounts of the Company, CorMedix Europe GmbH and CorMedix Spain, S.L.U. its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Financial Instruments Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and short-term investments. The Company maintains its cash and cash equivalents in bank deposit and other interest-bearing accounts, the balances of which, at times, may exceed federally insured limits. The following table is the reconciliation of the accounting standard that modifies certain aspects of the recognition, measurement, presentation and disclosure of financial instruments as shown on the Company’s consolidated statement of cash flows: September 30, December 31, Cash and cash equivalents $ 34,364,560 $ 16,350,237 Restricted cash 182,892 174,950 Total cash, cash equivalents and restricted cash $ 34,547,452 $ 16,525,187 The appropriate classification of marketable securities is determined at the time of purchase and re-evaluated as of each balance sheet date. Investments in marketable debt classified as available-for-sale and equity securities are reported at fair value. Fair value is determined using quoted market prices in active markets for identical assets or liabilities or quoted prices for similar assets or liabilities or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Changes in fair value that are considered temporary are reported in the condensed consolidated statement of operations. Realized gains and losses, amortization of premiums and discounts and interest and dividends earned are included in other income (expense). For declines in the fair value of equity securities that are considered other-than-temporary, impairment losses are charged to other income (expense), net. The Company considers available evidence in evaluating potential impairments of its investments, including the duration and extent to which fair value is less than cost. There were no deemed permanent impairments at September 30, 2020 or December 31, 2019. The Company’s marketable securities are highly liquid and consist of U.S. government agency securities, high-grade corporate obligations and commercial paper with original maturities of more than 90 days. As of September 30, 2020, and December 31, 2019, all of the Company’s investments had contractual maturities of less than one year. As of September 30, 2020, no allowance for credit loss was recorded. The following table summarizes the amortized cost, unrealized gains and losses and the fair value at September 30, 2020 and December 31, 2019: Amortized Cost Gross Unrealized Losses Gross Unrealized Gains Fair Value September 30, 2020: Money Market Funds included in Cash Equivalents $ 4,962,810 $ - $ - $ 4,962,810 U.S. Government Agency Securities - - - - Corporate Securities 2,375,059 (435 ) 497 2,375,121 Commercial Paper 299,636 - 13 299,649 Subtotal 2,674,695 (435 ) 510 2,674,770 Total September 30, 2020 $ 7,637,505 $ (435 ) $ 510 $ 7,637,580 December 31, 2019: Money Market Funds included in Cash Equivalents $ 3,472,043 $ - $ 51 $ 3,472,094 U.S. Government Agency Securities 2,691,091 (42 ) 869 2,691,918 Corporate Securities 6,058,265 (1,438 ) 440 6,057,267 Commercial Paper 3,234,583 (16 ) 405 3,234,972 Subtotal 11,983,939 (1,496 ) 1,714 11,984,157 Total December 31, 2019 $ 15,455,982 $ (1,496 ) $ 1,765 $ 15,456,251 Fair Value Measurements The Company’s financial instruments recorded in the condensed consolidated balance sheets include cash and cash equivalents, accounts receivable, investment securities, accounts payable and accrued expenses. The carrying value of certain financial instruments, primarily cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate their estimated fair values based upon the short-term nature of their maturity dates. The Company categorizes its financial instruments into a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial assets recorded at fair value on the Company’s condensed consolidated balance sheets are categorized as follows: ● Level 1 inputs—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 inputs— Significant other observable inputs (e.g., quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs). ● Level 3 inputs—Unobservable inputs for the asset or liability, which are supported by little or no market activity and are valued based on management’s estimates of assumptions that market participants would use in pricing the asset or liability. The following table provides the carrying value and fair value of the Company’s financial assets measured at fair value on a recurring basis as of September 30, 2020 and December 31, 2019: Carrying Value Level 1 Level 2 Level 3 September 30, 2020: Money Market Funds and Cash Equivalents $ 4,962,810 $ 4,962,810 $ - $ - U.S. Government Agency Securities - - - - Corporate Securities 2,375,121 - 2,375,121 - Commercial Paper 299,649 - 299,649 - Subtotal 2,674,770 - 2,674,770 $ - Total September 30, 2020 $ 7,637,580 $ 4,962,810 $ 2,674,770 $ - December 31, 2019: Money Market Funds and Cash Equivalents $ 3,472,094 $ 3,472,094 $ - $ - U.S. Government Agency Securities 2,691,918 2,691,918 - - Corporate Securities 6,057,267 - 6,057,267 - Commercial Paper 3,234,972 - 3,234,972 - Subtotal 11,984,157 2,691,918 9,292,239 - Total December 31, 2019 $ 15,456,251 $ 6,164,012 $ 9,292,239 $ - Foreign Currency Translation and Transactions The condensed consolidated financial statements are presented in U.S. Dollars (“USD”), the reporting currency of the Company. For the financial statements of the Company’s foreign subsidiaries, whose functional currency is the EURO, foreign currency asset and liability amounts, are translated into USD at end-of-period exchange rates. Foreign currency income and expenses are translated at average exchange rates in effect during the period in which the income and expenses were recognized. Translation gains and losses are included in other comprehensive income (loss). The Company has intercompany loans between the parent company based in New Jersey and its German subsidiary. The intercompany loans outstanding are not expected to be repaid in the foreseeable future and unrealized foreign exchange movements related to long-term intercompany loans are recognized in other comprehensive income (loss). Foreign currency exchange transaction gain (loss) is the result of re-measuring transactions denominated in a currency other than the functional currency of the entity recording the transaction. Restricted Cash As of September 30, 2020, and December 31, 2019, the Company has restricted cash in connection with the patent and utility model infringement proceedings against TauroPharm (see Note 4). The Company was required by the District Courts of Mannheim to provide a security deposit of an aggregate of approximately $124,000 (€110,000) to cover legal fees in the event TauroPharm is entitled to reimbursement of these costs. The company furthermore had to provide a deposit in the amount of $40,000 (€36,000) and $11,000 (€10,000) for the first and second instances, respectively, in connection with the unfair competition proceedings in Cologne. During the nine months ended September 30, 2020, the Company accrued expenses of $12,000 in connection with the utility model infringement proceedings, which may be deducted from restricted cash when settled. Prepaid Research and Development and Other Prepaid Expenses Prepaid expenses consist of payments made in advance to vendors relating to service contracts for clinical trial development, manufacturing, preclinical development, deposits on equipment and insurance policies. These advanced payments are amortized to expense either as services are performed or over the relevant service period using the straight-line method. Other prepaid expenses consist of the following: September 30, December 31, Deposit on equipment $ 500,822 $ - Insurance 286,241 244,828 Subscription fees 132,982 97,983 Software costs 372,454 10,081 Other 47,740 93,523 Total $ 1,340,239 $ 446,415 Inventories, net Inventories are valued at the lower of cost or net realizable value on a first in, first out basis. Inventories consist of raw materials (including labeling and packaging), work-in-process, and finished goods, if any, for the Defencath product. Inventories consist of the following: September 30, December 31, Raw materials $ - $ 6,893 Finished goods 351,542 461,735 Inventory reserve (150,836 ) (130,163 ) Total $ 200,706 $ 338,465 Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current portion of operating lease liabilities, and operating lease liabilities, net of current portion, on the condensed consolidated balance sheet. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company has elected, as an accounting policy, not to apply the recognition requirements in ASC 842 to short-term leases. Short-term leases are leases that have a term of 12 months or less and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. The Company recognizes the lease payments for short-term leases on a straight-line basis over the lease term. The Company has also elected, as a practical expedient, by underlying class of asset, not to separate lease components from non-lease components and, instead, account for them as a single component. Accrued Expenses Accrued expenses consist of the following: September 30, December 31, Professional and consulting fees $ 618,472 $ 214,777 Accrued payroll and payroll taxes 1,603,245 1,287,047 Clinical trial related 687 2,435,953 Manufacturing development related 230,248 806,032 Other 64,189 54,666 Total $ 2,516,841 $ 4,798,475 In December 2015, the Company contracted a clinical research organization (“CRO”) to help conduct its LOCK-IT-100 Phase 3 multicenter, double-blind, randomized active control study to demonstrate the safety and effectiveness of Defencath/Neutrolin in preventing catheter-related bloodstream infections and blood clotting in subjects receiving hemodialysis therapy as treatment for end stage renal disease. Through September 30, 2020, approximately $30.0 million of clinical trial expense has been recorded and paid. During the three and nine months ended September 30, 2020, the Company recognized $2,000 and $36,000 in research and development expense related to this agreement, and $61,000 and $763,000 during the three and nine months ended September 30, 2019, respectively. During the quarter ended September 30, 2020, the Company paid the outstanding balances in accounts payable and accrued expenses in the amount of $2.4 million. Revenue Recognition The Company recognizes revenue in accordance with ASC 606, “ Revenue from Contracts with Customers.” The Company recognizes net sales upon shipment of product and upon meeting the five-step model prescribed by ASC 606 outlined above. Loss Per Common Share Basic loss per common share excludes any potential dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. However, since their effect is anti-dilutive, the Company has excluded potentially dilutive shares. The following potentially dilutive shares have been excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive. Nine Months Ended 2020 2019 (Number of Shares of Common Stock Issuable) Series C-3 non-voting preferred stock 104,000 108,000 Series E non-voting preferred stock 391,953 391,953 Series G non-voting preferred stock 5,560,137 5,560,137 Restricted stock units - 8,411 Shares issuable for payment of deferred board compensation 45,326 31,498 Shares underlying outstanding warrants 183,148 344,828 Shares underlying outstanding stock options 2,427,687 1,435,110 Total potentially dilutive shares 8,712,251 7,879,937 Stock-Based Compensation Share-based compensation cost for stock options granted to employees is measured at grant date using the Black-Scholes stock option pricing model in accordance with ASC No. 718, “Compensation-Stock Compensation” Research and Development Research and development costs are charged to expense as incurred. Research and development include fees associated with operational consultants, contract clinical research organizations, contract manufacturing organizations, clinical site fees, contract laboratory research organizations, contract central testing laboratories, licensing activities, and allocated executive, human resources, facilities expenses and costs related to the manufacturing of the product that could potentially be available to support the commercial launch prior to marketing approval. For the nine months ended September 30, 2020, costs related to the manufacturing of commercial pre-launch inventory that were expensed amounted to approximately $4.8 million. The Company accrues for costs incurred as the services are being provided by monitoring the status of the activities and the invoices received from its external service providers. Costs related to the acquisition of technology rights and patents for which development work is still in process are charged to operations as incurred and considered a component of research and development expense.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 3 — Stockholders’ Equity: Common Stock On July 30, 2020, the Company completed an underwritten public offering of its common stock, par value $0.001 per share, which yielded net proceeds of approximately $21.3 million. The public offering was made pursuant to an underwriting agreement with SunTrust Robinson Humphrey, Inc. and JMP Securities LLC (collectively, the “Underwriters”), relating to the issuance and sale of an aggregate of 5,111,110 shares of common stock, including 666,666 shares of common stock pursuant to the full exercise of the Underwriters’ option, at a public offering price of $4.50 per share. The offering was made pursuant to the Company’s effective registration statement on Form S-3 Registration Statement No. 333-223562 previously filed with and declared effective by the SEC and a prospectus supplement and accompanying prospectus filed with the SEC. The Company is a party to a sales agreement with B. Riley dated March 9, 2018 for the sale of up to $14.7 million of the Company’s common stock under the Company’s ATM program, pursuant to a registration statement filed on March 9, 2018 for an aggregate of $70.0 million of the Company’s securities, which became effective on April 16, 2018. In November 2018, the ATM program amount was increased by $25.0 million. Under the ATM program, the Company may issue and sell common stock from time to time through B. Riley acting as agent, subject to limitations imposed by the Company and subject to B. Riley’s acceptance, such as the number or dollar amount of shares registered under the registration statement to which the offering relates. B. Riley is entitled to a commission of up to 3% of the gross proceeds from the sale of common stock sold under the ATM program. On August 31, 2020, the Company filed a prospectus supplement which allocated to the ATM program the remaining balance of its current shelf registration statement of approximately $7.3 million. The $7.3 million under the prospectus supplement, plus the $2.1 million already available under the ATM program, resulted in a total of approximately $9.4 million available to be sold under the Company’s ATM program. At September 30, 2020, the Company has approximately $8.7 million available under its ATM program (see Note 7 for subsequent event sales under the ATM program). During the nine months ended September 30, 2020 and 2019, the Company sold 477,721 and 1,768,012 shares of common stock under the ATM program, respectively, and realized net proceeds of approximately $3.0 million and $15.2 million, respectively. During the nine months ended September 30, 2020 and 2019, the Company issued an aggregate of 91,500 and 1,944,707 shares of its common stock upon exercise of warrants, respectively, resulting in net proceeds to the Company of $0.4 million and $8.7 million, respectively. During the nine months ended September 30, 2020 and 2019, the Company issued an aggregate of 2,490 and 19,425 shares of its common stock, respectively, upon the vesting of restricted stock units issued to the Company’s board of directors. During the nine months ended September 30, 2019, the Company issued an aggregate of 36,590 shares of its common stock upon exercise of stock options, resulting in net proceeds of $117,000 to the Company. No stock options were exercised during the nine months ended September 30, 2020. Preferred Stock The Company is authorized to issue up to 2,000,000 shares of preferred stock in one or more series without stockholder approval. The Company’s board of directors has the discretion to determine the rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of each series of preferred stock. Of the 2,000,000 shares of preferred stock authorized, the Company’s board of directors has designated (all with par value of $0.001 per share) the following: As of September 30, 2020 As of December 31, 2019 Preferred Shares Outstanding Liquidation Preference (Per Share) Total Liquidation Preference Preferred Shares Outstanding Liquidation Preference (Per Share) Total Liquidation Preference Series C-3 52,000 $ 10.00000 $ 520,000 52,000 $ 10.00000 $ 520,000 Series E 89,623 $ 49.20000 $ 4,409,452 89,623 $ 49.20000 $ 4,409,452 Series G 100,000 $ 187.36452 $ 18,736,452 100,000 $ 187.36452 $ 18,736,452 Total 241,623 $ 23,665,904 241,623 $ 23,665,904 Stock Options During the nine months ended September 30, 2020, the Company granted ten-year qualified and non-qualified stock options covering an aggregate of 1,086,984 shares of the Company’s common stock under the 2019 Stock Incentive Plan. The weighted average exercise price of these options is $5.11 per share. During the three and nine months ended September 30, 2020, total compensation expense for stock options issued to employees, directors, officers and consultants was $611,000 and $1,973,000, respectively, and $519,000 and $1,835,000 for the three and nine months ended September 30, 2019, respectively. As of September 30, 2020, there was approximately $3,719,000 in total unrecognized compensation expense related to stock options granted, which expense will be recognized over an expected remaining weighted average period of 1.7 years. The fair value of each stock option award estimated on the grant date is determined using the Black-Scholes option pricing model with the following assumptions, for the nine months ended September 30, 2020: Expected term, years 5 - 10 Volatility 102.73% - 107.87% Dividend yield 0.0% Risk-free interest rate 0.27% - 1.67% Weighted average grant date fair value of options granted during the period $3.58 The Company estimated the expected term of the stock options granted based on anticipated exercises in future periods. The expected term of the stock options granted to consultants is based upon the full term of the respective option agreements. The expected stock price volatility for the Company’s stock options is calculated based on the historical volatility since the initial public offering of the Company’s common stock in March 2010. The expected dividend yield of 0.0% reflects the Company’s current and expected future policy for dividends on the Company’s common stock. To determine the risk-free interest rate, the Company utilized the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected term of the Company’s awards which is 5 years for employees and 10 years for non-employees. The following table summarizes the Company’s stock options activity and related information for the nine months ended September 30, 2020: Shares Weighted Average Weighted Average Aggregate Intrinsic Value Outstanding at beginning of period 1,376,394 $ 8.98 6.8 $ 799,379 Granted 1,086,984 $ 5.11 $ 1,070,717 Forfeited (28,800 ) $ 9.01 $ - Expired (6,891 ) $ 12.53 $ - Exercised - - $ - Outstanding at end of period 2,427,687 $ 7.23 7.5 $ 1,870,096 Exercisable at end of period 1,251,023 $ 8.53 5.9 $ 827,570 The aggregate intrinsic value is calculated as the difference between the exercise prices of the underlying options and the quoted closing price of the common stock of the Company at the end of the reporting period for those options that have an exercise price below the quoted closing price. There were no stock options exercised during the nine months ended September 30, 2020. Restricted Stock Units During the nine months ended September 30, 2020, the Company issued an aggregate of 2,490 shares of its common stock upon the vesting of RSUs issued to the Company’s board of directors. During the three and nine months ended September 30, 2020, compensation expense recorded for the RSUs was $400 and $11,000, respectively, and $52,000 and $151,000 for the three and nine months ended September 30, 2019, respectively. As of September 30, 2020, all outstanding RSUs had vested and compensation expense had been fully recognized. Warrants During the nine months ended September 30, 2020 and 2019, the Company issued an aggregate of 91,500 and 1,944,707 shares of its common stock upon exercise of warrants, respectively, resulting in net proceeds to the Company of $412,000 and $8,658,000, respectively. As of September 30, 2020, there were 183,148 outstanding warrants with a weighted average exercise price of $4.96 per share and a weighted average remaining contractual life of 1.86 years.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 4 — Commitments and Contingencies: Contingency Matters On September 9, 2014, the Company filed in the District Court of Mannheim, Germany, a patent infringement action against TauroPharm GmbH and Tauro-Implant GmbH as well as their respective CEOs (the “Defendants”) claiming infringement of the Company’s European Patent EP 1 814 562 B1, which was granted by the European Patent Office (the “EPO”) on January 8, 2014 (the “Prosl European Patent”). The Prosl European Patent covers the formulation of taurolidine and citrate with low dose heparin in a catheter lock solution for maintaining patency and preventing infection in hemodialysis catheters. In this action, the Company claims that the Defendants infringe on the Prosl European Patent by manufacturing and distributing catheter locking solutions to the extent they are covered by the claims of the Prosl European Patent. The Company believes that its patent is sound and is seeking injunctive relief and raising claims for information, rendering of accounts, calling back, destruction and damages. Separately, TauroPharm has filed an opposition with the EPO against the Prosl European Patent alleging that it lacks novelty and inventive step. The Company cannot predict what other defenses the Defendants may raise, or the ultimate outcome of either of these related matters. At present, the EPO has revoked the Prosl European Patent as invalid, and the Company has filed an appeal, which is currently pending. In the same complaint against the same Defendants, the Company also alleged an infringement (requesting the same remedies) of ND Partners’ utility model DE 20 2005 022 124 U1 (the “Utility Model”), which the Company believes is fundamentally identical to the Prosl European Patent in its main aspects and claims. The Court separated the two proceedings and the Prosl European Patent and the Utility Model claims are now being tried separately. TauroPharm has filed a cancellation action against the Utility Model before the German Patent and Trademark Office (the “German PTO”) based on the similar arguments as those in the opposition against the Prosl European Patent. On March 27, 2015, the District Court held a hearing to evaluate whether the Utility Model has been infringed by TauroPharm in connection with the manufacture, sale and distribution of its TauroLock-HEP100 TM TM The Court issued its decisions on May 8, 2015, staying both proceedings. In its decisions, the Court found that the commercialization by TauroPharm in Germany of its TauroLock catheter lock solutions Hep100 and Hep500 infringes both the Prosl European Patent and the Utility Model and further that there is no prior use right that would allow TauroPharm to continue to make, use or sell its product in Germany. However, the Court declined to issue an injunction in favor of the Company that would preclude the continued commercialization by TauroPharm based upon its finding that there is a sufficient likelihood that the EPO, in the case of the Prosl European Patent, or the German PTO, in the case of the Utility Model, may find that such patent or utility model is invalid. Specifically, the Court noted the possible publication of certain instructions for product use that may be deemed to constitute prior art. As such, the District Court determined that it will defer any consideration of the request by the Company for injunctive and other relief until such time as the EPO or the German PTO made a final decision on the underlying validity of the Prosl European Patent and the Utility Model. We expect that the complaint regarding the infringement of the Utility Model will be dismissed now that the German PTO has voided the Utility Model (see below). This does not, however, have a direct effect on the infringement proceedings concerning the Prosl European Patent. The opposition proceeding against the Prosl European Patent before the EPO is ongoing. The EPO held a hearing in the opposition proceeding on November 25, 2015. In its preliminary consideration of the matter, the EPO (and the German PTO) had regarded the patent as not inventive or novel due to publication of prior art. However, the EPO did not issue a decision at the end of the hearing but adjourned the matter due to the fact that the panel was of the view that Claus Herdeis, one of the managing directors of TauroPharm, had to be heard as a witness in a further hearing in order to close some gaps in the documentation presented by TauroPharm as regards the publication of the prior art. The German PTO held a hearing in the validity proceedings relating to the Utility Model on June 29, 2016, at which the panel affirmed its preliminary finding that the Utility Model was invalid based upon prior publication of a reference to the benefits that may be associated with adding heparin to a taurolidine based solution. The Company filed an appeal against the ruling on September 7, 2016. An oral hearing was held on September 17, 2019 in which the German Federal Patent Court affirmed the first instance decision that the Utility Model was invalid. The decision has only a declaratory effect, as the Utility Model had expired in November 2015. On April 28, 2020, the Company filed a withdrawal of the complaint on the German utility model, thereby waiving its claims on these proceedings. The Company estimates that the expense will be less than €40,000. In October 2016, TauroPharm submitted a further writ to the EPO requesting a date for the hearing and bringing forward further arguments, in particular in view of the June 2016 decision of the German PTO on the invalidity of the utility model. On November 22, 2017, the EPO in Munich, Germany held a further oral hearing in this matter. At the hearing, the panel held that the Prosl European Patent would be invalidated because it did not meet the requirements of novelty based on a technical aspect of the European intellectual property law. The Company disagrees with this decision and, after the written opinion was issued by the Opposition Division in September 2018, has appealed the decision. The Company continues to believe that the Prosl European Patent is indeed novel and that its validity should be maintained. There can be no assurance that the Company will prevail in this matter. In addition, the ongoing Unfair Competition litigation brought by the Company against TauroPharm is not affected and will continue. On January 16, 2015, the Company filed a complaint against TauroPharm GmbH and its managing directors in the District Court of Cologne, Germany. In the complaint, the Company alleges violation of the German Unfair Competition Act by TauroPharm for the unauthorized use of its proprietary information obtained in confidence by TauroPharm. The Company alleges that TauroPharm is improperly and unfairly using its proprietary information relating to the composition and manufacture of Neutrolin, in the manufacture and sale of TauroPharm’s products TauroLock TM In connection with the aforementioned patent and utility model infringement and unfair competition proceedings against TauroPharm, the Company was required by the District Courts of Mannheim and Cologne to provide security deposits of an aggregate of approximately $183,000, to cover legal fees in the event TauroPharm is entitled to reimbursement of these costs. The Company recorded the deposits as restricted cash on the consolidated balance sheets. During the nine months ended September 30, 2020, the Company accrued an expense of $12,000 in connection with the utility model infringement proceedings, which will be deducted from restricted cash when settled. Commitments In-Licensing In 2008, the Company entered into a License and Assignment Agreement (the “NDP License Agreement”) with ND Partners, LLP (“NDP”). Pursuant to the NDP License Agreement, NDP granted the Company exclusive, worldwide licenses for certain antimicrobial catheter lock solutions, processes for treating and inhibiting infections, a biocidal lock system and a taurolidine delivery apparatus, and the corresponding United States and foreign patents and applications (the “NDP Technology”). The Company acquired such licenses and patents through its assignment and assumption of NDP’s rights under certain separate license agreements by and between NDP and Dr. Hans-Dietrich Polaschegg, Dr. Klaus Sodemann and Dr. Johannes Reinmueller. As consideration in part for the rights to the NDP Technology, the Company paid NDP an initial licensing fee of $325,000 and granted NDP a 5% equity interest in the Company, consisting of 7,996 shares of the Company’s common stock. The Company is required to make payments to NDP upon the achievement of certain regulatory and sales-based milestones. Certain of the milestone payments are to be made in the form of shares of common stock currently held in escrow for NDP, and other milestone payments are to be paid in cash. The maximum aggregate number of shares issuable upon achievement of milestones is 29,109 shares. In 2014, a certain milestone was achieved resulting in the release of 7,277 shares held in escrow. The number of shares held in escrow as of September 30, 2020 is 21,832 shares of common stock. The maximum aggregate amount of cash payments due upon achievement of milestones is $3,000,000 with the balance being $2,500,000 as of September 30, 2020 and 2019. Events that trigger milestone payments include but are not limited to the reaching of various stages of regulatory approval and upon achieving certain worldwide net sales amounts. There were no milestones achieved during the three and nine months ended September 30, 2020 and 2019. The NDP License Agreement may be terminated by the Company on a country-by-country basis upon 60 days prior written notice. If the NDP License Agreement is terminated by either party, the Company’s rights to the NDP Technology will revert back to NDP. Employment Agreements On April 30, 2020, the Company entered into an employment agreement with Dr. Matthew David, pursuant to which Dr. David became the Company’s Executive Vice President and Chief Financial Officer effective on May 11, 2020. After the initial three-year term of the employment agreement, the agreement will automatically renew for additional successive one-year periods, unless either party notifies the other in writing at least 90 days before the expiration of the then current term that the agreement will not be renewed. In connection with Dr. David’s employment, the Company granted him stock options to purchase 250,000 shares of common stock, 166,000 of which vest in four equal installments over four years beginning one year after his start date and continuing on each of the next three anniversaries, subject to Dr. David’s continued employment with the Company, and 84,000 of which vest upon the achievement of designated performance milestones, subject to Dr. David’s continued employment with the Company. If the Company terminates Dr. David’s employment other than for Cause (as defined in the agreement), death, disability, or by notice of nonrenewal, or if he resigns for Good Reason (as defined in the agreement), including in each case within 24 months of a Change of Control (as defined in the agreement), Dr. David will receive his base salary and benefits for a period of nine months following the effective date of the termination of his employment, and all unvested stock options held by him that are scheduled to vest on or before the next succeeding anniversary of the date of termination will be accelerated and deemed to have vested as of the termination date, provided that any milestone option whose vesting requirements have not been met as of the termination date will be terminated. If the Company terminates Dr. David’s employment for Cause (as defined in the agreement), Dr. David will be entitled to receive only the accrued compensation due to him as of the date of such termination, rights to indemnification and directors’ and officers’ liability insurance, and as otherwise required by law. All outstanding equity awards and all outstanding stock options then held by Dr. David that are granted on or after the effective date of his employment agreement, whether or not vested, will be forfeited to us as of such date.

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	Note 5 — Leases: The Company entered into a seven-year operating lease agreement in March 2020 for an office space at 300 Connell Drive, Berkeley Heights, New Jersey 07922. The lease agreement, with a monthly average cost of approximately $17,000 commenced on September 16, 2020. The Company’s lease on its current premises at 400 Connell Drive, Berkeley Heights, New Jersey 07922 terminates on November 30, 2020. The Company entered into an operating lease for office space in Germany that began in July 2017. The rental agreement has a three-month term which automatically renews and includes a monthly cost of 400 Euros. The Company elected to apply the short-term practical expedient to the office lease. The Company also has an operating lease for office equipment. Operating lease expense in the Company’s condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2020 was approximately $10,000 and $14,000, respectively, which includes costs associated with leases for which ROU assets have been recognized as well as short-term leases. Operating lease expense in the Company’s condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2019 was approximately $2,000 and $6,000, respectively, which includes costs associated with leases for which ROU assets have been recognized as well as short-term leases. At September 30, 2020, the Company has a total operating lease liability and operating lease ROU assets of $1,050,000 and $1,042,000, respectively. For the three and nine months ended September 30, 2020 and 2019, cash paid for amounts included in the measurement of lease liabilities in operating cash flows from operating leases was $2,000 and $6,000, respectively. The weighted average remaining lease term as of September 30, 2020 and 2019 were 7.0 and 2.8 years, respectively, and the weighted average discount rate for operating leases was 9.0% and 10.0% as of September 30, 2020 and 2019, respectively. As of September 30, 2020, maturities of lease liabilities were as follows: 2020 (excluding the nine months ended September 30, 2020) $ 41,000 2021 198,000 2022 200,000 2023 202,000 2024 205,000 2025 and thereafter 588,000 Total future minimum lease payments 1,434,000 Less imputed interest (384,000 ) Total $ 1,050,000

Concentrations

Concentrations	9 Months Ended
	Sep. 30, 2020
Risks and Uncertainties [Abstract]
Concentrations	Note 6 — Concentrations: At September 30, 2020, 99% of net accounts receivable was due from two customers that exceeded 10% of the Company’s accounts receivable (50% each) and at December 31, 2019, no customer exceeded 10% of the Company’s accounts receivable. During the three months ended September 30, 2020, the Company had revenue from three customers that exceeded 10% of its total sales (50%, 24% and 16%) and for the nine months ended September 30, 2020, the Company had revenue from three customers that each exceeded 10% of its total sales (50%, 16% and 12%). During the three months ended September 30, 2019, the Company had revenue from one customer that exceeded 10% of its totals sales (77%) and for the nine months ended September 30, 2019, the Company had revenue from four customers that each exceeded 10% of its total sales (46%, 20%, 13% and 13%).

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Event	Note 7 — Subsequent Event: During October 2020, the Company sold an aggregate of 784,321 shares of its common stock under the ATM program and realized net proceeds of approximately $4.6 million.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Liquidity and Uncertainties	Liquidity and Uncertainties The financial statements have been prepared in conformity with GAAP which contemplate continuation of the Company as a going concern. To date, the Company’s commercial operations have not generated sufficient revenues to enable profitability. As of September 30, 2020, the Company had an accumulated deficit of $211.4 million, and incurred losses from operations of $6.6 million and $5.3 million for the three months ended September 30, 2020 and 2019, respectively, and $15.9 million and $11.1 million for the nine months ended September 30, 2020 and 2019, respectively. The Company currently estimates that as of September 30, 2020 it has sufficient cash, cash equivalents and short-term investments on hand to fund operations for at least twelve months after the filing date of this report, after taking into consideration the net proceeds received through October 14, 2020 from the At-the-Market Issuance Sales Agreement (the “ATM program”) of $4.6 million (see Note 7) and the costs for the initial preparations for commercial launch for Defencath. In April 2020, the Company received approximately $5.2 million, net of expenses, from the sale of most of its remaining unused New Jersey net operating losses, or NOL, eligible for sale under the State of New Jersey’s Economic Development Authority’s New Jersey Technology Business Tax Certificate Transfer program, or NJEDA Program. The NJEDA Program allowed the Company to sell approximately $5.5 million of its total $6.0 million in available NOL tax benefits for the state fiscal year 2019. In April 2020, the Company received from the FDA a refund for the NDA application fee in the amount of $2.9 million, which was paid in the first quarter of 2020. The Company met the conditions of the Federal Food, Drug, and Cosmetic Act for the small business waiver of the user fees and its request for a waiver of an application user fee was granted by the FDA. The Company’s continued operations will depend on its ability to raise additional capital through various potential sources, such as equity and/or debt financings, strategic relationships, or out-licensing of its products, to commercially launch Defencath upon NDA approval, and until profitability is achieved, if ever. Management can provide no assurances that such financing or strategic relationships will be available on acceptable terms, or at all. At September 30, 2020, the Company had approximately $8.7 million available under its ATM program (see Note 3). The Company’s operations are subject to a number of other factors that can affect its operating results and financial condition. Such factors include, but are not limited to: the ability to obtain regulatory approval to market the Company’s products; ability to manufacture successfully; competition from products manufactured and sold or being developed by other companies; the price of, and demand for, Company products; the Company’s ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products; the results of clinical testing and trial activities of the Company’s product candidates; and the Company’s ability to raise capital to support its operations.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Basis of Consolidation	Basis of Consolidation The condensed consolidated financial statements include the accounts of the Company, CorMedix Europe GmbH and CorMedix Spain, S.L.U. its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
Financial Instruments	Financial Instruments Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and short-term investments. The Company maintains its cash and cash equivalents in bank deposit and other interest-bearing accounts, the balances of which, at times, may exceed federally insured limits. The following table is the reconciliation of the accounting standard that modifies certain aspects of the recognition, measurement, presentation and disclosure of financial instruments as shown on the Company’s consolidated statement of cash flows: September 30, December 31, Cash and cash equivalents $ 34,364,560 $ 16,350,237 Restricted cash 182,892 174,950 Total cash, cash equivalents and restricted cash $ 34,547,452 $ 16,525,187 The appropriate classification of marketable securities is determined at the time of purchase and re-evaluated as of each balance sheet date. Investments in marketable debt classified as available-for-sale and equity securities are reported at fair value. Fair value is determined using quoted market prices in active markets for identical assets or liabilities or quoted prices for similar assets or liabilities or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Changes in fair value that are considered temporary are reported in the condensed consolidated statement of operations. Realized gains and losses, amortization of premiums and discounts and interest and dividends earned are included in other income (expense). For declines in the fair value of equity securities that are considered other-than-temporary, impairment losses are charged to other income (expense), net. The Company considers available evidence in evaluating potential impairments of its investments, including the duration and extent to which fair value is less than cost. There were no deemed permanent impairments at September 30, 2020 or December 31, 2019. The Company’s marketable securities are highly liquid and consist of U.S. government agency securities, high-grade corporate obligations and commercial paper with original maturities of more than 90 days. As of September 30, 2020, and December 31, 2019, all of the Company’s investments had contractual maturities of less than one year. As of September 30, 2020, no allowance for credit loss was recorded. The following table summarizes the amortized cost, unrealized gains and losses and the fair value at September 30, 2020 and December 31, 2019: Amortized Cost Gross Unrealized Losses Gross Unrealized Gains Fair Value September 30, 2020: Money Market Funds included in Cash Equivalents $ 4,962,810 $ - $ - $ 4,962,810 U.S. Government Agency Securities - - - - Corporate Securities 2,375,059 (435 ) 497 2,375,121 Commercial Paper 299,636 - 13 299,649 Subtotal 2,674,695 (435 ) 510 2,674,770 Total September 30, 2020 $ 7,637,505 $ (435 ) $ 510 $ 7,637,580 December 31, 2019: Money Market Funds included in Cash Equivalents $ 3,472,043 $ - $ 51 $ 3,472,094 U.S. Government Agency Securities 2,691,091 (42 ) 869 2,691,918 Corporate Securities 6,058,265 (1,438 ) 440 6,057,267 Commercial Paper 3,234,583 (16 ) 405 3,234,972 Subtotal 11,983,939 (1,496 ) 1,714 11,984,157 Total December 31, 2019 $ 15,455,982 $ (1,496 ) $ 1,765 $ 15,456,251
Fair Value Measurements	Fair Value Measurements The Company’s financial instruments recorded in the condensed consolidated balance sheets include cash and cash equivalents, accounts receivable, investment securities, accounts payable and accrued expenses. The carrying value of certain financial instruments, primarily cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate their estimated fair values based upon the short-term nature of their maturity dates. The Company categorizes its financial instruments into a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial assets recorded at fair value on the Company’s condensed consolidated balance sheets are categorized as follows: ● Level 1 inputs—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 inputs— Significant other observable inputs (e.g., quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs). ● Level 3 inputs—Unobservable inputs for the asset or liability, which are supported by little or no market activity and are valued based on management’s estimates of assumptions that market participants would use in pricing the asset or liability. The following table provides the carrying value and fair value of the Company’s financial assets measured at fair value on a recurring basis as of September 30, 2020 and December 31, 2019: Carrying Value Level 1 Level 2 Level 3 September 30, 2020: Money Market Funds and Cash Equivalents $ 4,962,810 $ 4,962,810 $ - $ - U.S. Government Agency Securities - - - - Corporate Securities 2,375,121 - 2,375,121 - Commercial Paper 299,649 - 299,649 - Subtotal 2,674,770 - 2,674,770 $ - Total September 30, 2020 $ 7,637,580 $ 4,962,810 $ 2,674,770 $ - December 31, 2019: Money Market Funds and Cash Equivalents $ 3,472,094 $ 3,472,094 $ - $ - U.S. Government Agency Securities 2,691,918 2,691,918 - - Corporate Securities 6,057,267 - 6,057,267 - Commercial Paper 3,234,972 - 3,234,972 - Subtotal 11,984,157 2,691,918 9,292,239 - Total December 31, 2019 $ 15,456,251 $ 6,164,012 $ 9,292,239 $ -
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions The condensed consolidated financial statements are presented in U.S. Dollars (“USD”), the reporting currency of the Company. For the financial statements of the Company’s foreign subsidiaries, whose functional currency is the EURO, foreign currency asset and liability amounts, are translated into USD at end-of-period exchange rates. Foreign currency income and expenses are translated at average exchange rates in effect during the period in which the income and expenses were recognized. Translation gains and losses are included in other comprehensive income (loss). The Company has intercompany loans between the parent company based in New Jersey and its German subsidiary. The intercompany loans outstanding are not expected to be repaid in the foreseeable future and unrealized foreign exchange movements related to long-term intercompany loans are recognized in other comprehensive income (loss). Foreign currency exchange transaction gain (loss) is the result of re-measuring transactions denominated in a currency other than the functional currency of the entity recording the transaction.
Restricted Cash	Restricted Cash As of September 30, 2020, and December 31, 2019, the Company has restricted cash in connection with the patent and utility model infringement proceedings against TauroPharm (see Note 4). The Company was required by the District Courts of Mannheim to provide a security deposit of an aggregate of approximately $124,000 (€110,000) to cover legal fees in the event TauroPharm is entitled to reimbursement of these costs. The company furthermore had to provide a deposit in the amount of $40,000 (€36,000) and $11,000 (€10,000) for the first and second instances, respectively, in connection with the unfair competition proceedings in Cologne. During the nine months ended September 30, 2020, the Company accrued expenses of $12,000 in connection with the utility model infringement proceedings, which may be deducted from restricted cash when settled.
Prepaid Research and Development and Other Prepaid Expenses	Prepaid Research and Development and Other Prepaid Expenses Prepaid expenses consist of payments made in advance to vendors relating to service contracts for clinical trial development, manufacturing, preclinical development, deposits on equipment and insurance policies. These advanced payments are amortized to expense either as services are performed or over the relevant service period using the straight-line method. Other prepaid expenses consist of the following: September 30, December 31, Deposit on equipment $ 500,822 $ - Insurance 286,241 244,828 Subscription fees 132,982 97,983 Software costs 372,454 10,081 Other 47,740 93,523 Total $ 1,340,239 $ 446,415
Inventories, net	Inventories, net Inventories are valued at the lower of cost or net realizable value on a first in, first out basis. Inventories consist of raw materials (including labeling and packaging), work-in-process, and finished goods, if any, for the Defencath product. Inventories consist of the following: September 30, December 31, Raw materials $ - $ 6,893 Finished goods 351,542 461,735 Inventory reserve (150,836 ) (130,163 ) Total $ 200,706 $ 338,465
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current portion of operating lease liabilities, and operating lease liabilities, net of current portion, on the condensed consolidated balance sheet. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company has elected, as an accounting policy, not to apply the recognition requirements in ASC 842 to short-term leases. Short-term leases are leases that have a term of 12 months or less and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. The Company recognizes the lease payments for short-term leases on a straight-line basis over the lease term. The Company has also elected, as a practical expedient, by underlying class of asset, not to separate lease components from non-lease components and, instead, account for them as a single component.
Accrued Expenses	Accrued Expenses Accrued expenses consist of the following: September 30, December 31, Professional and consulting fees $ 618,472 $ 214,777 Accrued payroll and payroll taxes 1,603,245 1,287,047 Clinical trial related 687 2,435,953 Manufacturing development related 230,248 806,032 Other 64,189 54,666 Total $ 2,516,841 $ 4,798,475 In December 2015, the Company contracted a clinical research organization (“CRO”) to help conduct its LOCK-IT-100 Phase 3 multicenter, double-blind, randomized active control study to demonstrate the safety and effectiveness of Defencath/Neutrolin in preventing catheter-related bloodstream infections and blood clotting in subjects receiving hemodialysis therapy as treatment for end stage renal disease. Through September 30, 2020, approximately $30.0 million of clinical trial expense has been recorded and paid. During the three and nine months ended September 30, 2020, the Company recognized $2,000 and $36,000 in research and development expense related to this agreement, and $61,000 and $763,000 during the three and nine months ended September 30, 2019, respectively. During the quarter ended September 30, 2020, the Company paid the outstanding balances in accounts payable and accrued expenses in the amount of $2.4 million.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with ASC 606, “ Revenue from Contracts with Customers.” The Company recognizes net sales upon shipment of product and upon meeting the five-step model prescribed by ASC 606 outlined above.
Loss Per Common Share	Loss Per Common Share Basic loss per common share excludes any potential dilution and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. However, since their effect is anti-dilutive, the Company has excluded potentially dilutive shares. The following potentially dilutive shares have been excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive. Nine Months Ended 2020 2019 (Number of Shares of Common Stock Issuable) Series C-3 non-voting preferred stock 104,000 108,000 Series E non-voting preferred stock 391,953 391,953 Series G non-voting preferred stock 5,560,137 5,560,137 Restricted stock units - 8,411 Shares issuable for payment of deferred board compensation 45,326 31,498 Shares underlying outstanding warrants 183,148 344,828 Shares underlying outstanding stock options 2,427,687 1,435,110 Total potentially dilutive shares 8,712,251 7,879,937
Stock-Based Compensation	Stock-Based Compensation Share-based compensation cost for stock options granted to employees is measured at grant date using the Black-Scholes stock option pricing model in accordance with ASC No. 718, “Compensation-Stock Compensation”
Research and Development	Research and Development Research and development costs are charged to expense as incurred. Research and development include fees associated with operational consultants, contract clinical research organizations, contract manufacturing organizations, clinical site fees, contract laboratory research organizations, contract central testing laboratories, licensing activities, and allocated executive, human resources, facilities expenses and costs related to the manufacturing of the product that could potentially be available to support the commercial launch prior to marketing approval. For the nine months ended September 30, 2020, costs related to the manufacturing of commercial pre-launch inventory that were expensed amounted to approximately $4.8 million. The Company accrues for costs incurred as the services are being provided by monitoring the status of the activities and the invoices received from its external service providers. Costs related to the acquisition of technology rights and patents for which development work is still in process are charged to operations as incurred and considered a component of research and development expense.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Schedule of cash and cash equivalents	September 30, December 31, Cash and cash equivalents $ 34,364,560 $ 16,350,237 Restricted cash 182,892 174,950 Total cash, cash equivalents and restricted cash $ 34,547,452 $ 16,525,187
Schedule of marketable securities	Amortized Cost Gross Unrealized Losses Gross Unrealized Gains Fair Value September 30, 2020: Money Market Funds included in Cash Equivalents $ 4,962,810 $ - $ - $ 4,962,810 U.S. Government Agency Securities - - - - Corporate Securities 2,375,059 (435 ) 497 2,375,121 Commercial Paper 299,636 - 13 299,649 Subtotal 2,674,695 (435 ) 510 2,674,770 Total September 30, 2020 $ 7,637,505 $ (435 ) $ 510 $ 7,637,580 December 31, 2019: Money Market Funds included in Cash Equivalents $ 3,472,043 $ - $ 51 $ 3,472,094 U.S. Government Agency Securities 2,691,091 (42 ) 869 2,691,918 Corporate Securities 6,058,265 (1,438 ) 440 6,057,267 Commercial Paper 3,234,583 (16 ) 405 3,234,972 Subtotal 11,983,939 (1,496 ) 1,714 11,984,157 Total December 31, 2019 $ 15,455,982 $ (1,496 ) $ 1,765 $ 15,456,251
Schedule of carrying and fair value of financial assets	Carrying Value Level 1 Level 2 Level 3 September 30, 2020: Money Market Funds and Cash Equivalents $ 4,962,810 $ 4,962,810 $ - $ - U.S. Government Agency Securities - - - - Corporate Securities 2,375,121 - 2,375,121 - Commercial Paper 299,649 - 299,649 - Subtotal 2,674,770 - 2,674,770 $ - Total September 30, 2020 $ 7,637,580 $ 4,962,810 $ 2,674,770 $ - December 31, 2019: Money Market Funds and Cash Equivalents $ 3,472,094 $ 3,472,094 $ - $ - U.S. Government Agency Securities 2,691,918 2,691,918 - - Corporate Securities 6,057,267 - 6,057,267 - Commercial Paper 3,234,972 - 3,234,972 - Subtotal 11,984,157 2,691,918 9,292,239 - Total December 31, 2019 $ 15,456,251 $ 6,164,012 $ 9,292,239 $ -
Schedule of other prepaid expenses	September 30, December 31, Deposit on equipment $ 500,822 $ - Insurance 286,241 244,828 Subscription fees 132,982 97,983 Software costs 372,454 10,081 Other 47,740 93,523 Total $ 1,340,239 $ 446,415
Schedule of inventories	September 30, December 31, Raw materials $ - $ 6,893 Finished goods 351,542 461,735 Inventory reserve (150,836 ) (130,163 ) Total $ 200,706 $ 338,465
Schedule of accrued expenses	September 30, December 31, Professional and consulting fees $ 618,472 $ 214,777 Accrued payroll and payroll taxes 1,603,245 1,287,047 Clinical trial related 687 2,435,953 Manufacturing development related 230,248 806,032 Other 64,189 54,666 Total $ 2,516,841 $ 4,798,475
Schedule of anti-dilutive securities excluded from calculation of diluted net loss per share	Nine Months Ended 2020 2019 (Number of Shares of Common Stock Issuable) Series C-3 non-voting preferred stock 104,000 108,000 Series E non-voting preferred stock 391,953 391,953 Series G non-voting preferred stock 5,560,137 5,560,137 Restricted stock units - 8,411 Shares issuable for payment of deferred board compensation 45,326 31,498 Shares underlying outstanding warrants 183,148 344,828 Shares underlying outstanding stock options 2,427,687 1,435,110 Total potentially dilutive shares 8,712,251 7,879,937

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Schedule of preferred stock	As of September 30, 2020 As of December 31, 2019 Preferred Shares Outstanding Liquidation Preference (Per Share) Total Liquidation Preference Preferred Shares Outstanding Liquidation Preference (Per Share) Total Liquidation Preference Series C-3 52,000 $ 10.00000 $ 520,000 52,000 $ 10.00000 $ 520,000 Series E 89,623 $ 49.20000 $ 4,409,452 89,623 $ 49.20000 $ 4,409,452 Series G 100,000 $ 187.36452 $ 18,736,452 100,000 $ 187.36452 $ 18,736,452 Total 241,623 $ 23,665,904 241,623 $ 23,665,904
Schedule of fair value assumptions for black sholes	Expected term, years 5 - 10 Volatility 102.73% - 107.87% Dividend yield 0.0% Risk-free interest rate 0.27% - 1.67% Weighted average grant date fair value of options granted during the period $3.58
Schedule of option activity under plan and related information	Shares Weighted Average Weighted Average Aggregate Intrinsic Value Outstanding at beginning of period 1,376,394 $ 8.98 6.8 $ 799,379 Granted 1,086,984 $ 5.11 $ 1,070,717 Forfeited (28,800 ) $ 9.01 $ - Expired (6,891 ) $ 12.53 $ - Exercised - - $ - Outstanding at end of period 2,427,687 $ 7.23 7.5 $ 1,870,096 Exercisable at end of period 1,251,023 $ 8.53 5.9 $ 827,570

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of maturities of lease liabilities	2020 (excluding the nine months ended September 30, 2020) $ 41,000 2021 198,000 2022 200,000 2023 202,000 2024 205,000 2025 and thereafter 588,000 Total future minimum lease payments 1,434,000 Less imputed interest (384,000 ) Total $ 1,050,000

Organization, Business and Ba_2

Organization, Business and Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Organization and business, description	The Company has in-licensed the worldwide rights to develop and commercialize Defencath and Neutrolin. The CLS is a formulation of 1.35% taurolidine, 3.5% citrate, and 1000 u/ml heparin and is regulated by the FDA as an investigational new drug, where it is being developed to prevent catheter-related blood stream infections, or CRBSIs, and thrombosis in patients using central venous catheters, or CVCs, for hemodialysis. CRBSIs and thrombosis represent key complications among hemodialysis, intensive care, cancer and total parenteral nutrition, or TPN, patients with CVCs. These complications can lead to treatment delays and increased costs to the healthcare system when they occur due to hospitalizations, need for intravenous, or IV, antibiotic treatment, long-term anticoagulation therapy, removal/replacement of the CVC, related treatment costs and increased mortality. The Company initially expects to sell Defencath directly to dialysis centers and hospitals, but also plans to expand its usage into intensive care, oncology and TPN patients using central venous catheters. The Company believes Defencath addresses a significant unmet medical need and a potential large market opportunity in the U.S.
Defencath relative to the active control, description	In July 2018, 28 potential cases of CRBSI were identified in LOCK-IT-100 that occurred through early December 2017. As previously agreed with the FDA, an interim efficacy analysis was performed. Based on these first 28 cases, there was a highly statistically significant 72% reduction in CRBSI by Defencath relative to the active control of heparin (p=0.0034). Because the pre-specified level of statistical significance was reached for the primary endpoint and efficacy had been demonstrated with no safety concerns, the independent Data Safety Monitoring Board, or the DSMB, recommended early termination. Following discussions with the FDA, we proceeded with an orderly termination of LOCK-IT-100. The study had continued enrolling and treating subjects until study termination, and the final analysis was based on a total of 795 subjects. The Company remained blinded until the topline results of the full data set of LOCK-IT-100 were announced in late January 2019. In a total of 41 cases, there was a 71% reduction in CRBSI by Defencath relative to heparin, which was highly statistically significant (p=0.0006), with a good safety profile.
Pediatric research equity act, description	Pediatric studies for an approved product conducted under PREA may qualify for pediatric exclusivity, which if granted would provide an additional six months of marketing exclusivity. Defencath would then have the potential to receive a total marketing exclusivity period of 10.5 years, including exclusivity pursuant to NCE and QIDP.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	Oct. 14, 2020USD ($)	Apr. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2020EUR (€)
Summary of Significant Accounting Policies (Details) [Line Items]
Accumulated deficit			$ (211,361,910)		$ (211,361,910)		$ (195,421,172)
Incurred losses from operations			(6,600,747)	$ (5,264,847)	(15,940,738)	$ (11,128,889)
Proceeds from common stock issuance					3,045,730	15,234,529
NDA application fee		$ 2,900,000
ATM program amount					8,700,000
Provide security deposit			124,000		124,000			€ 110,000
Accrued expense in connection with the model infringement proceedings					$ 12,000
Short-term leases term, description					Short-term leases are leases that have a term of 12 months or less and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. The Company recognizes the lease payments for short-term leases on a straight-line basis over the lease term.
Clinical trial expenses					$ 30,000,000
Research and development expense related to agreement			2,000	$ 61,000	36,000	$ 763,000
Accounts payable and accrued expense balance paid			2,400,000		2,400,000
Costs related to manufacturing amount					4,800,000
NEW JERSEY
Summary of Significant Accounting Policies (Details) [Line Items]
Net of expenses		$ 5,200,000
NOL selling							5,500,000
NOL tax benefits							$ 6,000,000
Subsequent Event [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Proceeds from common stock issuance	$ 4,600,000
Liquidity and Uncertainties [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Accumulated deficit			211,400,000		211,400,000
First Instances [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Deposits			40,000		40,000			36,000
Second Instances [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Deposits			$ 11,000		$ 11,000			€ 10,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of cash and cash equivalents - USD ($)	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Schedule of cash and cash equivalents [Abstract]
Cash and cash equivalents	$ 34,364,560	$ 16,350,237
Restricted cash	182,892	174,950
Total cash, cash equivalents and restricted cash	$ 34,547,452	$ 16,525,187	$ 20,315,346	$ 17,795,323

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of marketable securities - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Marketable Securities [Line Items]
Amortized Cost	$ 7,637,505	$ 15,455,982
Gross Unrealized Losses	(435)	(1,496)
Gross Unrealized Gains	510	1,765
Fair Value	7,637,580	15,456,251
Money Market Funds included in Cash Equivalents [Member]
Marketable Securities [Line Items]
Amortized Cost	4,962,810	3,472,043
Gross Unrealized Losses
Gross Unrealized Gains		51
Fair Value	4,962,810	3,472,094
U.S. Government Agency Securities [Member]
Marketable Securities [Line Items]
Amortized Cost		2,691,091
Gross Unrealized Losses		(42)
Gross Unrealized Gains		869
Fair Value		2,691,918
Corporate Securities [Member]
Marketable Securities [Line Items]
Amortized Cost	2,375,059	6,058,265
Gross Unrealized Losses	(435)	(1,438)
Gross Unrealized Gains	497	440
Fair Value	2,375,121	6,057,267
Commercial Paper [Member]
Marketable Securities [Line Items]
Amortized Cost	299,636	3,234,583
Gross Unrealized Losses		(16)
Gross Unrealized Gains	13	405
Fair Value	299,649	3,234,972
Subtotal [Member]
Marketable Securities [Line Items]
Amortized Cost	2,674,695	11,983,939
Gross Unrealized Losses	(435)	(1,496)
Gross Unrealized Gains	510	1,714
Fair Value	$ 2,674,770	$ 11,984,157

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value	$ 7,637,580	$ 15,456,251
Money Market Funds and Cash Equivalents [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value	4,962,810	3,472,094
U.S. Government Agency Securities [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value		2,691,918
Corporate Securities [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value	2,375,121	6,057,267
Commercial Paper [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value	299,649	3,234,972
Subtotal [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value	2,674,770	11,984,157
Level 1 [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value	4,962,810	6,164,012
Level 1 [Member] | Money Market Funds and Cash Equivalents [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value	4,962,810	3,472,094
Level 1 [Member] | U.S. Government Agency Securities [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value		2,691,918
Level 1 [Member] | Corporate Securities [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value
Level 1 [Member] | Commercial Paper [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value
Level 1 [Member] | Subtotal [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value		2,691,918
Level 2 [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value	2,674,770	9,292,239
Level 2 [Member] | Money Market Funds and Cash Equivalents [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value
Level 2 [Member] | U.S. Government Agency Securities [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value
Level 2 [Member] | Corporate Securities [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value	2,375,121	6,057,267
Level 2 [Member] | Commercial Paper [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value	299,649	3,234,972
Level 2 [Member] | Subtotal [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value	2,674,770	9,292,239
Level 3 [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value
Level 3 [Member] | Money Market Funds and Cash Equivalents [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value
Level 3 [Member] | U.S. Government Agency Securities [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value
Level 3 [Member] | Corporate Securities [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value
Level 3 [Member] | Commercial Paper [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value
Level 3 [Member] | Subtotal [Member]
Summary of Significant Accounting Policies (Details) - Schedule of carrying and fair value of financial assets [Line Items]
Carrying Value

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details) - Schedule of other prepaid expenses - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Schedule of other prepaid expenses [Abstract]
Deposit on equipment	$ 500,822
Insurance expense	286,241	$ 244,828
Subscription fees	132,982	97,983
Software costs	372,454	10,081
Other	47,740	93,523
Total	$ 1,340,239	$ 446,415

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details) - Schedule of inventories - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Schedule of inventories [Abstract]
Raw materials		$ 6,893
Finished goods	$ 351,542	461,735
Inventory reserve	(150,836)	(130,163)
Total	$ 200,706	$ 338,465

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details) - Schedule of accrued expenses - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Schedule of accrued expenses [Abstract]
Professional and consulting fees	$ 618,472	$ 214,777
Accrued payroll and payroll taxes	1,603,245	1,287,047
Clinical trial related	687	2,435,953
Manufacturing development related	230,248	806,032
Other	64,189	54,666
Total	$ 2,516,841	$ 4,798,475

Summary of Significant Accou_10

Summary of Significant Accounting Policies (Details) - Schedule of anti-dilutive securities excluded from calculation of diluted net loss per share - shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Shares	8,712,251	7,879,937
Series C-3 non-voting preferred stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Shares	104,000	108,000
Series E non-voting preferred stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Shares	391,953	391,953
Series G non-voting preferred stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Shares	5,560,137	5,560,137
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Shares		8,411
Shares issuable for payment of deferred board compensation [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Shares	45,326	31,498
Shares underlying outstanding warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Shares	183,148	344,828
Shares underlying outstanding stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Shares	2,427,687	1,435,110

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Mar. 09, 2018	Jul. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Stockholders' Equity (Details) [Line Items]
Common stock, par value (in Dollars per share)			$ 0.001		$ 0.001		$ 0.001
Common stock proceeds (in Dollars)					$ 3,045,730	$ 15,234,529
Common Stock, Shares, Issued			31,348,171		31,348,171		25,665,350
Stock issued in connection with ATM sale of common stock, net (in Dollars)			$ 622,817		$ 3,045,730	$ 15,234,529
Proceeds from stock options exercised (in Dollars)					$ 0
Preferred stock, shares authorized			2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Preferred stock, par value (in Dollars per share)			$ 0.001		$ 0.001		$ 0.001
stock options granted					1,086,984
Weighted Average Exercise Price (in Dollars per share)			$ 7.23		$ 7.23		$ 8.98
Exchange agreement, description					During the three and nine months ended September 30, 2020, total compensation expense for stock options issued to employees, directors, officers and consultants was $611,000 and $1,973,000, respectively, and $519,000 and $1,835,000 for the three and nine months ended September 30, 2019, respectively.
Unrecognized compensation expense (in Dollars)			$ 3,719,000		$ 3,719,000
Weighted average remaining contractual life					1 year 8 months 12 days
Dividend yield					0.00%
Weighted average remaining contractual life					6 years 9 months 18 days
Employees [Member]
Stockholders' Equity (Details) [Line Items]
Expected term (years)					5 years
non-employees [Member]
Stockholders' Equity (Details) [Line Items]
Expected term (years)					10 years
Common Stock [Member]
Stockholders' Equity (Details) [Line Items]
New ATM agreement, description	The Company is a party to a sales agreement with B. Riley dated March 9, 2018 for the sale of up to $14.7 million of the Company’s common stock under the Company’s ATM program, pursuant to a registration statement filed on March 9, 2018 for an aggregate of $70.0 million of the Company’s securities, which became effective on April 16, 2018. In November 2018, the ATM program amount was increased by $25.0 million. Under the ATM program, the Company may issue and sell common stock from time to time through B. Riley acting as agent, subject to limitations imposed by the Company and subject to B. Riley’s acceptance, such as the number or dollar amount of shares registered under the registration statement to which the offering relates. B. Riley is entitled to a commission of up to 3% of the gross proceeds from the sale of common stock sold under the ATM program. On August 31, 2020, the Company filed a prospectus supplement which allocated to the ATM program the remaining balance of its current shelf registration statement of approximately $7.3 million. The $7.3 million under the prospectus supplement, plus the $2.1 million already available under the ATM program, resulted in a total of approximately $9.4 million available to be sold under the Company’s ATM program. At September 30, 2020, the Company has approximately $8.7 million available under its ATM program (see Note 7 for subsequent event sales under the ATM program).
Stock issued in connection with ATM sale of common stock, net			109,577		477,721	1,768,012
Stock issued in connection with ATM sale of common stock, net (in Dollars)			$ 110		$ 478	$ 1,768
Stock issued in connection with warrants exercised					91,500	1,944,707
Stock issued in connection with stock options exercised				750		36,590
Warrant [Member]
Stockholders' Equity (Details) [Line Items]
Stock issued in connection with warrants exercised					91,500	1,944,707
Weighted Average Exercise Price (in Dollars per share)			$ 4.96		$ 4.96
Value of stock issued in connection with upon exercise of warrants (in Dollars)					$ 412,000	$ 8,658,000
Outstanding warrants					183,148
Weighted average remaining contractual life					1 year 10 months 9 days
Options Held [Member]
Stockholders' Equity (Details) [Line Items]
Weighted Average Exercise Price (in Dollars per share)			$ 5.11		$ 5.11
Restricted Stock Units (RSUs) [Member] | Common Stock [Member]
Stockholders' Equity (Details) [Line Items]
Issuance of vested restricted stock					2,490
Restricted Stock [Member]
Stockholders' Equity (Details) [Line Items]
Compensation expense (in Dollars)			$ 400	$ 52,000	$ 11,000	$ 151,000
B. Riley [Member]
Stockholders' Equity (Details) [Line Items]
Common stock sale of amount (in Dollars)	$ 14,700,000
Rate Of commission					3.00%
Amount of remaining balance of current shelf registration statement (in Dollars)					$ 7,300,000
underwriters [Member]
Stockholders' Equity (Details) [Line Items]
Common Stock, Shares, Issued		5,111,110
Common Stock, Shares, Issued		666,666
ATM [Member] | Common Stock [Member]
Stockholders' Equity (Details) [Line Items]
Stock issued in connection with ATM sale of common stock, net					477,721	1,768,012
Stock issued in connection with ATM sale of common stock, net (in Dollars)					$ 3,000,000	$ 15,200,000
Common Stock [Member]
Stockholders' Equity (Details) [Line Items]
Common stock, par value (in Dollars per share)		$ 0.001
Common stock proceeds (in Dollars)		$ 21,300,000
Sale of Stock, Price Per Share (in Dollars per share)		$ 4.50
Issuance of vested restricted stock					2,490	19,425
Stock issued in connection with stock options exercised						36,590
Net proceeds exercise of stock options (in Dollars)						$ 117,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Schedule of preferred stock - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Preferred Units [Line Items]
Preferred Shares Outstanding	241,623	241,623
Total Liquidation Preference	$ 23,665,904	$ 23,665,904
Series C-3 [Member]
Preferred Units [Line Items]
Preferred Shares Outstanding	52,000	52,000
Liquidation Preference (Per Share)	$ 10	$ 10
Total Liquidation Preference	$ 520,000	$ 520,000
Series E [Member]
Preferred Units [Line Items]
Preferred Shares Outstanding	89,623	89,623
Liquidation Preference (Per Share)	$ 49.20000	$ 49.20000
Total Liquidation Preference	$ 4,409,452	$ 4,409,452
Series G [Member]
Preferred Units [Line Items]
Preferred Shares Outstanding	100,000	100,000
Liquidation Preference (Per Share)	$ 187.36452	$ 187.36452
Total Liquidation Preference	$ 18,736,452	$ 18,736,452

Stockholders' Equity (Details_2

Stockholders' Equity (Details) - Schedule of fair value assumptions for black sholes	9 Months Ended
	Sep. 30, 2020$ / shares
Stockholders' Equity (Details) - Schedule of fair value assumptions for black sholes [Line Items]
Dividend yield	0.00%
Weighted average grant date fair value of options granted during the period (in Dollars per share)	$ 3.58
Minimum [Member]
Stockholders' Equity (Details) - Schedule of fair value assumptions for black sholes [Line Items]
Expected term, years	5 years
Volatility	102.73%
Risk-free interest rate	0.27%
Maximum [Member]
Stockholders' Equity (Details) - Schedule of fair value assumptions for black sholes [Line Items]
Expected term, years	10 years
Volatility	107.87%
Risk-free interest rate	1.67%

Stockholders' Equity (Details_3

Stockholders' Equity (Details) - Schedule of option activity under plan and related information	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Schedule of option activity under plan and related information [Abstract]
Number of Options Outstanding, Beginning (in Shares) | shares	1,376,394
Weighted Average Exercise Price Outstanding, Beginning	$ 8.98
Weighted Average Remaining Contractual Life (in years) Outstanding, Beginning	6 years 9 months 18 days
Aggregate Intrinsic Value Outstanding, Beginning (in Dollars) | $	$ 799,379
Number of Options Granted (in Shares) | shares	1,086,984
Weighted Average Exercise Price Granted	$ 5.11
Aggregate Intrinsic Value, Granted	$ 1,070,717
Number of Options Forfeited (in Shares) | shares	(28,800)
Weighted Average Exercise Price Forfeited	$ 9.01
Aggregate Intrinsic Value, Forfeited
Number of Options Expired (in Shares) | shares	(6,891)
Weighted Average Exercise Price, Expired	$ 12.53
Aggregate Intrinsic Value, Expired
Number of Options Exercised (in Shares) | shares
Weighted Average Exercise Price, Exercised
Aggregate Intrinsic Value, Exercised (in Dollars) | $
Number of Options Outstanding, Ending (in Shares) | shares	2,427,687
Weighted Average Exercise Price Outstanding, Ending	$ 7.23
Weighted Average Remaining Contractual Life (in years) Outstanding, Ending	7 years 6 months
Aggregate Intrinsic Value Outstanding, Ending (in Dollars) | $	$ 1,870,096
Number of Options Exercisable, Ending (in Shares) | shares	1,251,023
Weighted Average Exercise Price Exercisable, Ending	$ 8.53
Weighted Average Remaining Contractual Life (in years) Exercisable, Ending	5 years 10 months 24 days
Aggregate Intrinsic Value Exercisable, Ending (in Dollars) | $	$ 827,570

Commitments and Contingencies (

Commitments and Contingencies (Details)	1 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2020	Apr. 28, 2020EUR (€)	Sep. 30, 2020USD ($)shares	Sep. 30, 2019USD ($)	Dec. 31, 2014shares	Sep. 30, 2020EUR (€)
Commitments and Contingencies (Details) [Line Items]
Estimates expense (in Euro) | €		€ 40,000
Aggregate of security deposit			$ 124,000			€ 110,000
Accrued an expenses			12,000
Amount of initial licensing fee			$ 325,000
Percentage of equity interest			5.00%
Shares of equity of common stock (in Shares) | shares			7,996
Maximum aggregate number of shares issuable (in Shares) | shares			29,109
Number of share held In escrow of common stock (in Shares) | shares			21,832		7,277
Maximum aggregate amount of cash payments due			$ 3,000,000	$ 2,500,000
Employee agreement, description	the Company entered into an employment agreement with Dr. Matthew David, pursuant to which Dr. David became the Company’s Executive Vice President and Chief Financial Officer effective on May 11, 2020. After the initial three-year term of the employment agreement, the agreement will automatically renew for additional successive one-year periods, unless either party notifies the other in writing at least 90 days before the expiration of the then current term that the agreement will not be renewed. In connection with Dr. David’s employment, the Company granted him stock options to purchase 250,000 shares of common stock, 166,000 of which vest in four equal installments over four years beginning one year after his start date and continuing on each of the next three anniversaries, subject to Dr. David’s continued employment with the Company, and 84,000 of which vest upon the achievement of designated performance milestones, subject to Dr. David’s continued employment with the Company.
TauroPharm [Member]
Commitments and Contingencies (Details) [Line Items]
Aggregate of security deposit			$ 183,000

Leases (Details)

Leases (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 16, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Leases [Abstract]
Operating lease agreement, description				seven-year operating lease
Payments for leasing costs	$ 17,000
Lease expiration date				Nov. 30, 2020
Operating lease expense		$ 10,000	$ 2,000	$ 14,000	$ 6,000
Operating lease liability		1,050,000		1,050,000
Operating lease ROU assets		1,041,991		$ 1,041,991		$ 4,690
Measurement lease liabilities		$ 2,000	$ 6,000
Weighted average remaining, description				The weighted average remaining lease term as of September 30, 2020 and 2019 were 7.0 and 2.8 years, respectively, and the weighted average discount rate for operating leases was 9.0% and 10.0% as of September 30, 2020 and 2019, respectively.

Leases (Details) - Schedule of

Leases (Details) - Schedule of maturities of lease liabilities	Sep. 30, 2020USD ($)
Schedule of maturities of lease liabilities [Abstract]
2020 (excluding the nine months ended September 30, 2020)	$ 41,000
2021	198,000
2022	200,000
2023	202,000
2024	205,000
2025 and thereafter	588,000
Total future minimum lease payments	1,434,000
Less imputed interest	(384,000)
Total	$ 1,050,000

Concentrations (Details)

Concentrations (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Concentrations (Details) [Line Items]
Concentration risk			10.00%
Revenue [Member]
Concentrations (Details) [Line Items]
Concentration risk	10.00%	10.00%	10.00%	10.00%
Customers One [Member] | Revenue [Member]
Concentrations (Details) [Line Items]
Concentration risk	50.00%	77.00%	50.00%	46.00%
Customers Two [Member] | Revenue [Member]
Concentrations (Details) [Line Items]
Concentration risk	24.00%		16.00%	20.00%
Customers Three [Member] | Revenue [Member]
Concentrations (Details) [Line Items]
Concentration risk	16.00%		12.00%	13.00%
Customers Four [Member] | Revenue [Member]
Concentrations (Details) [Line Items]
Concentration risk				13.00%
Accounts Receivable [Member]
Concentrations (Details) [Line Items]
Concentration risk			99.00%
Accounts Receivable [Member] | Customers One [Member]
Concentrations (Details) [Line Items]
Concentration risk			50.00%
Accounts Receivable [Member] | Customers Two [Member]
Concentrations (Details) [Line Items]
Concentration risk			50.00%
Accounts Receivable [Member] | No Customers [Member]
Concentrations (Details) [Line Items]
Concentration risk					10.00%

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event [Member] $ in Millions	Oct. 14, 2020USD ($)shares
Subsequent Event (Details) [Line Items]
Number of shares issued | shares	784,321
Proceeds from common stock issuance | $	$ 4.6