| Significant Accounting Policies (Policies) | 3 Months Ended | 12 Months Ended |
| Oct. 31, 2022 | Jul. 31, 2022 |
| Accounting Policies [Abstract] | | |
| Reverse Stock Split | Reverse
Stock Split The
Board of Directors of the Company approved a reverse stock split of the Company’s authorized, issued and outstanding shares of
common stock at a ratio of 1-for-22 (the “Reverse Stock Split”) | Reverse
Stock Split The
Board of Directors of the Company approved a reverse stock split of the Company’s authorized, issued and outstanding shares of
common stock at a ratio of 1-for-22 (the “Reverse Stock Split”) |
| Principles of Consolidation | Principles
of Consolidation The
accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary,
OncoSec Medical Australia PTY LTD. All significant intercompany accounts and transactions have been eliminated in
consolidation. | Principles
of Consolidation The
accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, OncoSec Medical Australia
PTY LTD. All significant intercompany accounts and transactions have been eliminated in consolidation. |
| Use of Estimates | Use
of Estimates The
accompanying condensed consolidated financial statements have been prepared in conformity with U.S. GAAP, which requires Management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent
liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant
accounting estimates related to the Company’s ability to continue as a going concern and certain calculations related to that
determination. The Company bases its estimates on historical experience and on various other assumptions that it believes are
reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and
liabilities that are not readily apparent from other sources. On an ongoing basis, the Company reviews its estimates to ensure that
they appropriately reflect changes in the business or as new information becomes available. Actual results may differ from these
estimates. | Use
of Estimates The
accompanying consolidated financial statements have been prepared in conformity with U.S. GAAP, which requires Management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the
financial statements and the reported amounts of expenses during the reporting period. Significant accounting estimates related to the
Company’s ability to continue as a going concern and certain calculations related to that determination. The Company bases its estimates on historical experience and
on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making
judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. On an ongoing basis,
the Company reviews its estimates to ensure that they appropriately reflect changes in the business or as new information becomes available.
Actual results may differ from these estimates. |
| Segment Reporting | Segment
Reporting The
Company operates in a single industry segment—the discovery and development of novel immunotherapeutic product candidates to improve
treatment options for patients and physicians, intended to treat a wide range of oncology indications. | Segment
Reporting The
Company operates in a single industry segment—the discovery and development of novel immunotherapeutic product candidates to improve
treatment options for patients and physicians, intended to treat a wide range of oncology indications. |
| Cash and Cash Equivalents | Cash
and Cash Equivalents The
Company considers all highly liquid investments that are readily convertible into cash and have an original maturity of three months
or less at the time of purchase to be cash equivalents. | Cash
and Cash Equivalents The
Company considers all highly liquid investments that are readily convertible into cash and have an original maturity of three months
or less at the time of purchase to be cash equivalents. |
| Concentrations and Credit Risk | Concentrations
and Credit Risk The
Company maintains cash balances at a small number of financial institutions in both the United States and Australia and such balances
commonly exceed the $ 250,000 250,000 160,000 | Concentrations
and Credit Risk The
Company maintains cash balances at a small number of financial institutions in both the United States and Australia and such balances
commonly exceed the $ 250,000 250,000 175,000 |
| Property and Equipment | Property
and Equipment The
Company’s capitalization threshold is $ 5,000 Schedule of Useful Lives of Property and Equipment for Purpose of Computing Depreciation
Computers
and equipment: 3 10
Computer
software: 1 3
Leasehold
improvements: Shorter
of lease period or useful life Construction-in-progress
is stated at cost, which relates to the cost of equipment not yet placed into service. No depreciation expense is recorded on construction-in-progress
until such time as the relevant assets are completed and put into use. | Property
and Equipment The
Company’s capitalization threshold is $ 5,000 Schedule of Useful Lives of Property and Equipment for Purpose of Computing Depreciation
Computers and
equipment: 3 10
Computer software: 1 3
Leasehold improvements: Shorter of lease period or
useful life Construction-in-progress
is stated at cost, which relates to the cost of equipment not yet placed into service. No depreciation expense is recorded on construction-in-progress
until such time as the relevant assets are completed and put into use. |
| Intangible Assets | Intangible
Assets Definite
life intangible assets include a license. Intangible assets are recorded at cost. License agreement cost represents the fair value of
the license agreement on the date acquired. Intangible assets are amortized on a straight-line basis over their estimated useful life. | Intangible
Assets Definite
life intangible assets include a license. Intangible assets are recorded at cost. License agreement cost represents the fair value of
the license agreement on the date acquired. Intangible assets are amortized on a straight-line basis over their estimated useful life. |
| Impairment of Long-Lived Assets | Impairment
of Long-Lived Assets The
Company periodically assesses the carrying value of intangible and other long-lived assets, and whenever events or changes in circumstances
indicate that the carrying amount of an asset might not be recoverable. The assets are considered to be impaired if the Company determines
that the carrying value may not be recoverable based upon its assessment, which includes consideration of the following events or changes
in circumstances:
● the
asset’s ability to continue to generate income from operations and positive cash flow in future periods;
● loss
of legal ownership or title to the asset(s);
● significant
changes in the Company’s strategic business objectives and utilization of the asset(s); and
● the
impact of significant negative industry or economic trends. If
the assets are considered to be impaired, the impairment recognized is the amount by which the carrying value of the assets exceeds the
fair value of the assets. Fair value is determined by the application of discounted cash flow models to projected cash flows from the assets.
In addition, the Company bases estimates of the useful lives and related amortization or depreciation expense on its subjective estimate
of the period the assets will generate revenue or otherwise be used by it. Assets to be disposed of are reported at the lower of the
carrying amount or fair value, less selling costs. The Company also periodically reviews the lives assigned to long-lived assets to ensure
that the initial estimates do not exceed any revised estimated periods from which the Company expects to realize cash flows from its
assets. | Impairment
of Long-Lived Assets The
Company periodically assesses the carrying value of intangible and other long-lived assets, and whenever events or changes in circumstances
indicate that the carrying amount of an asset might not be recoverable. The assets are considered to be impaired if the Company determines
that the carrying value may not be recoverable based upon its assessment, which includes consideration of the following events or changes
in circumstances:
● the
asset’s ability to continue to generate income from operations and positive cash flow in future periods;
● loss
of legal ownership or title to the asset(s);
● significant
changes in the Company’s strategic business objectives and utilization of the asset(s); and
● the
impact of significant negative industry or economic trends. If
the assets are considered to be impaired, the impairment recognized is the amount by which the carrying value of the assets exceeds the
fair value of the assets. Fair value is determined by the application of discounted cash flow models to project cash flows from the assets.
In addition, the Company bases estimates of the useful lives and related amortization or depreciation expense on its subjective estimate
of the period the assets will generate revenue or otherwise be used by it. Assets to be disposed of are reported at the lower of the
carrying amount or fair value, less selling costs. The Company also periodically reviews the lives assigned to long-lived assets to ensure
that the initial estimates do not exceed any revised estimated periods from which the Company expects to realize cash flows from its
assets. |
| Research and Development Expenses | Research
and Development Expenses Research
and development expenses consist of costs incurred for internal projects, as well as partner-funded collaborative research and development
activities. These costs include direct and research-related overhead expenses, which include salaries, stock-based compensation and other
personnel-related expenses, facility costs, supplies, depreciation of facilities and laboratory equipment, as well as research consultants
and the cost of funding research at universities and other research institutions, and are expensed as incurred. Costs to acquire technologies
that are utilized in research and development that have no alternative future use, are expensed when incurred. In accordance with Accounting
Standards Codification (“ASC”) 730-20, the Company accounts for upfront, non-refundable research and development payments
received from a related party as a long-term liability as there has not been a substantive and genuine transfer of risk and there is
a presumption that the Company is obligated to repay the related party. | Research
and Development Expenses Research
and development expenses consist of costs incurred for internal projects, as well as partner-funded collaborative research and development
activities. These costs include direct and research-related overhead expenses, which include salaries, stock-based compensation and other
personnel-related expenses, facility costs, supplies, depreciation of facilities and laboratory equipment, as well as research consultants
and the cost of funding research at universities and other research institutions, and are expensed as incurred. Costs to acquire technologies
that are utilized in research and development that have no alternative future use, are expensed when incurred. In accordance with Accounting
Standards Codification (“ASC”) 730-20, the Company accounts for upfront, non-refundable research and development payments
received from a related party as a long-term liability as there has not been a substantive and genuine transfer of risk and there is
a presumption that the Company is obligated to repay the related party. |
| Accruals for Research and Development Expenses and Clinical Trials | Accruals
for Research and Development Expenses and Clinical Trials The
Company is required to estimate its expenses resulting from its obligations under contracts with vendors, clinical research organizations
and consultants and under clinical site agreements in connection with conducting clinical trials. The financial terms of these contracts
vary from contract to contract and may result in payment terms that do not match the periods over which materials or services are provided
under such contracts. The Company accounts for these expenses in its financial statements by matching those expenses with the period
in which services are performed and efforts are expended. The Company determines accrual estimates through financial models and takes
into account discussion with applicable personnel and outside service providers as to the progress of clinical trials, or the services
completed. The Company makes estimates of its accrued expenses as of each balance sheet date based on the facts and circumstances known
to it at that time. The Company’s clinical trial accruals are dependent upon the timely and accurate reporting of contract research
organizations and other third-party vendors. During the course of a clinical trial, the Company adjusts its clinical expense recognition
if actual results differ from its estimates. | Accruals
for Research and Development Expenses and Clinical Trials The
Company is required to estimate its expenses resulting from its obligations under contracts with vendors, clinical research organizations
and consultants and under clinical site agreements in connection with conducting clinical trials. The financial terms of these contracts
vary from contract to contract and may result in payment terms that do not match the periods over which materials or services are provided
under such contracts. The Company accounts for these expenses in its financial statements by matching those expenses with the period
in which services are performed and efforts are expended. The Company determines accrual estimates through financial models and takes
into account discussion with applicable personnel and outside service providers as to the progress of clinical trials, or the services
completed. The Company makes estimates of its accrued expenses as of each balance sheet date based on the facts and circumstances known
to it at that time. The Company’s clinical trial accruals are dependent upon the timely and accurate reporting of contract research
organizations and other third-party vendors. During the course of a clinical trial, the Company adjusts its clinical expense recognition
if actual results differ from its estimates. |
| Fair Value of Financial Instruments | Fair
Value of Financial Instruments The
carrying amounts for cash and cash equivalents, prepaid expenses, accounts payable and accrued expenses and notes payable approximate
fair value due to the short-term nature of these instruments. It is Management’s opinion that the Company is not exposed to significant
interest, currency, or credit risks arising from its other financial instruments and that their fair values approximate their carrying
values except where expressly disclosed. The
accounting standard for fair value measurements provides a framework for measuring fair value and requires disclosures regarding fair
value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement date, based on the Company’s principal or, in the absence of
a principal, most advantageous market for the specific asset or liability. The
Company uses a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring
basis, as well as assets and liabilities measured at fair value on a non-recurring basis, in periods subsequent to their initial measurement.
The hierarchy requires the Company to use observable inputs when available, and to minimize the use of unobservable inputs, when determining
fair value. The
three tiers are defined as follows:
● Level
1—Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets at
the measurement date. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation
of these products does not entail a significant degree of judgment.
● Level
2—Observable inputs other than quoted prices in active markets that are observable either directly or indirectly in the marketplace
for identical or similar assets and liabilities.
● Level
3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The
development and determination of the unobservable inputs for Level 3 fair value measurements and fair value calculations are the responsibility
of the Company’s Management. Changes
in fair value measurements categorized within Level 3 of the fair value hierarchy are analyzed each period based on changes in estimates
or assumptions and recorded as appropriate. The
Company had no assets or liabilities that required remeasurement on a recurring basis as of October 31, 2022 and July 31, 2022. | Fair
Value of Financial Instruments The
carrying amounts for cash and cash equivalents, prepaid expenses, accounts payable and accrued expenses and notes payable approximate
fair value due to the short-term nature of these instruments. It is Management’s opinion that the Company is not exposed to significant
interest, currency, or credit risks arising from its other financial instruments and that their fair values approximate their carrying
values except where expressly disclosed. The
accounting standard for fair value measurements provides a framework for measuring fair value and requires disclosures regarding fair
value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement date, based on the Company’s principal or, in the absence of
a principal, most advantageous market for the specific asset or liability. The
Company uses a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring
basis, as well as assets and liabilities measured at fair value on a non-recurring basis, in periods subsequent to their initial measurement.
The hierarchy requires the Company to use observable inputs when available, and to minimize the use of unobservable inputs, when determining
fair value. The
three tiers are defined as follows:
● Level
1—Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets at
the measurement date. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation
of these products does not entail a significant degree of judgment.
● Level
2—Observable inputs other than quoted prices in active markets that are observable either directly or indirectly in the marketplace
for identical or similar assets and liabilities.
● Level
3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The
development and determination of the unobservable inputs for Level 3 fair value measurements and fair value calculations are the responsibility
of the Company’s Management. Changes
in fair value measurements categorized within Level 3 of the fair value hierarchy are analyzed each period based on changes in estimates
or assumptions and recorded as appropriate. The
Company had no assets or liabilities that required remeasurement on a recurring basis as of July 31, 2022 and July 31, 2021. |
| Warrants | Warrants The
Company assesses its warrants as either equity or a liability based upon the characteristics and provisions of each instrument. Warrants
classified as equity are recorded at fair value as of the date of issuance on the Company’s balance sheet and no further adjustments
to their valuation are made. Warrants classified as derivative liabilities and other derivative financial instruments that require separate
accounting as liabilities are recorded on the Company’s balance sheet at their fair value on the date of issuance and are re-measured
on each subsequent balance sheet date until such instruments are exercised or expire, with any changes in the fair value between reporting
periods recorded as other income or expense. Management estimates the fair value of these liabilities using option pricing models and
assumptions that are based on the individual characteristics of the warrants or other instruments on the valuation date, as well as assumptions
for future financings, expected volatility, expected life, yield and risk-free interest rate. As of October 31, 2022 and July 31, 2022,
all outstanding warrants issued by the Company were classified as equity. | Warrants The
Company assesses its warrants as either equity or a liability based upon the characteristics and provisions of each instrument. Warrants
classified as equity are recorded at fair value as of the date of issuance on the Company’s balance sheet and no further adjustments
to their valuation are made. Warrants classified as derivative liabilities and other derivative financial instruments that require separate
accounting as liabilities are recorded on the Company’s balance sheet at their fair value on the date of issuance and are re-measured
on each subsequent balance sheet date until such instruments are exercised or expire, with any changes in the fair value between reporting
periods recorded as other income or expense. Management estimates the fair value of these liabilities using option pricing models and
assumptions that are based on the individual characteristics of the warrants or other instruments on the valuation date, as well as assumptions
for future financings, expected volatility, expected life, yield and risk-free interest rate. As of July 31, 2022 and July 31, 2021,
all outstanding warrants issued by the Company were classified as equity. |
| Net Loss Per Share | Net
Loss Per Share The
Company computes basic net loss per common share by dividing the applicable net loss by the weighted-average number of common shares
outstanding during the period. Diluted earnings per share is computed by dividing the applicable net loss by the weighted-average number
of common shares outstanding during the period plus additional shares to account for the dilutive effect of potential future issuances
of common stock relating to stock options and other potentially dilutive securities using the treasury stock method. The
Company did not include shares underlying stock options, restricted stock units and warrants issued and outstanding during any of the
periods presented in the computation of net loss per share, as the effect would have been anti-dilutive. The following potentially dilutive
outstanding securities were excluded from diluted net loss per share because of their anti-dilutive effect: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
For the Three Months Ended For the Three Months
Ended
October 31, 2022 October 31, 2021
Stock options 129,261 129,656
Restricted stock units 2,020 4,780
Warrants 75,897 77,554
Total 207,178 211,990 | Net
Loss Per Share The
Company computes basic net loss per common share by dividing the applicable net loss by the weighted-average number of common shares
outstanding during the period. Diluted earnings per share is computed by dividing the applicable net loss by the weighted-average number
of common shares outstanding during the period plus additional shares to account for the dilutive effect of potential future issuances
of common stock relating to stock options and other potentially dilutive securities using the treasury stock method. The
Company did not include shares underlying stock options, restricted stock units and warrants issued and outstanding during any of the
periods presented in the computation of net loss per share, as the effect would have been anti-dilutive. The following potentially dilutive
outstanding securities were excluded from diluted net loss per share because of their anti-dilutive effect: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
July 31, 2022 July 31, 2021
Stock options 133,973 141,438
Restricted stock units 2,710 20,125
Warrants 77,554 77,554
Total 214,237 239,117 |
| Stock-Based Compensation | Stock-Based
Compensation The
Company grants equity-based awards (typically stock options or restricted stock units) under its stock-based compensation plan and occasionally
outside of its stock-based compensation plan, with terms generally similar to the terms under the Company’s stock-based compensation
plan. The Company estimates the fair value of stock option awards using the Black-Scholes option valuation model. For employees, directors
and consultants, the fair value of the award is measured on the grant date. The fair value amount is then recognized over the period
during which services are required to be provided in exchange for the award, usually the vesting period. The Black-Scholes option valuation
model requires the input of subjective assumptions, including price volatility of the underlying stock, risk-free interest rate, dividend
yield, and expected life of the option. The Company estimates the fair value of restricted stock unit awards based on the closing price
of the Company’s common stock on the date of grant. | Stock-Based
Compensation The
Company grants equity-based awards (typically stock options or restricted stock units) under its stock-based compensation plan and occasionally
outside of its stock-based compensation plan, with terms generally similar to the terms under the Company’s stock-based compensation
plan. The Company estimates the fair value of stock option awards using the Black-Scholes option valuation model. For employees, directors
and consultants, the fair value of the award is measured on the grant date. The fair value amount is then recognized over the period
during which services are required to be provided in exchange for the award, usually the vesting period. The Black-Scholes option valuation
model requires the input of subjective assumptions, including price volatility of the underlying stock, risk-free interest rate, dividend
yield, and expected life of the option. The Company estimates the fair value of restricted stock unit awards based on the closing price
of the Company’s common stock on the date of grant. |
| Employee Stock Purchase Plan | Employee
Stock Purchase Plan Employees
may elect to participate in the Company’s stockholder-approved employee stock purchase plan. The stock purchase plan allows for
the purchase of the Company’s common stock at not less than 85% of the lesser of (i) the fair market value of a share of common
stock on the beginning date of the offering period and (ii) the fair market value of a share of common stock on the purchase date of
the offering period, subject to a share and dollar limit as defined in the plan and subject to the applicable legal requirements. There
are two six-month offering periods during each fiscal year, ending on January 31 and July 31. In
accordance with applicable accounting guidance, the fair value of awards under the stock purchase plan is calculated at the beginning
of each offering period. The Company estimates the fair value of the awards using the Black-Scholes option valuation model. The Black-Scholes
option valuation model requires the input of subjective assumptions, including price volatility of the underlying stock, risk-free interest
rate, dividend yield, and the offering period. This fair value is then amortized at the beginning of the offering period. Stock-based
compensation expense is based on awards expected to be purchased at the beginning of the offering period, and therefore is reduced when
participants withdraw during the offering period. | Employee
Stock Purchase Plan Employees
may elect to participate in the Company’s stockholder-approved employee stock purchase plan. The stock purchase plan allows for
the purchase of the Company’s common stock at not less than 85% of the lesser of (i) the fair market value of a share of common
stock on the beginning date of the offering period and (ii) the fair market value of a share of common stock on the purchase date of
the offering period, subject to a share and dollar limit as defined in the plan and subject to the applicable legal requirements. There
are two six-month offering periods during each fiscal year, ending on January 31 and July 31. In
accordance with applicable accounting guidance, the fair value of awards under the stock purchase plan is calculated at the beginning
of each offering period. The Company estimates the fair value of the awards using the Black-Scholes option valuation model. The Black-Scholes
option valuation model requires the input of subjective assumptions, including price volatility of the underlying stock, risk-free interest
rate, dividend yield, and the offering period. This fair value is then amortized at the beginning of the offering period. Stock-based
compensation expense is based on awards expected to be purchased at the beginning of the offering period, and therefore is reduced when
participants withdraw during the offering period. |
| Leases | Leases The
Company determines if an arrangement is a lease at inception. Operating lease right of use (“ROU”) assets represent the Company’s
right to use an underlying asset during the lease term, and operating lease liabilities represent the Company’s obligation to make
lease payments arising from the lease. Operating leases are included in ROU assets, current operating lease liabilities, and long-term
operating lease liabilities on the Company’s consolidated balance sheets. Lease
ROU assets and lease liabilities are initially recognized based on the present value of the future minimum lease payments over the lease
term at commencement date calculated using the Company’s incremental borrowing rate applicable to the lease asset, unless the implicit
rate is readily determinable. ROU assets also include any lease payments made at or before lease commencement and exclude any lease incentives
received. 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. Leases with a term of 12 months or less are not recognized on the consolidated balance sheets. The
Company’s leases do not contain any residual value guarantees. Lease expense for minimum lease payments is recognized on a straight-line
basis over the lease term. The Company accounts for lease and non-lease components as a single lease component for all its leases. | Leases The
Company determines if an arrangement is a lease at inception. Operating lease right of use (“ROU”) assets represent the Company’s right to use an
underlying asset during the lease term, and operating lease liabilities represent the Company’s obligation to make lease payments
arising from the lease. Operating leases are included in ROU assets, current operating lease liabilities, and long-term operating lease
liabilities on the Company’s consolidated balance sheets. Lease
ROU assets and lease liabilities are initially recognized based on the present value of the future minimum lease payments over the lease
term at commencement date calculated using the Company’s incremental borrowing rate applicable to the lease asset, unless the implicit
rate is readily determinable. ROU assets also include any lease payments made at or before lease commencement and exclude any lease incentives
received. 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. Leases with a term of 12 months or less are not recognized on the consolidated balance sheets. The
Company’s leases do not contain any residual value guarantees. Lease expense for minimum lease payments is recognized on a straight-line
basis over the lease term. The Company accounts for lease and non-lease components as a single lease component for all its leases. |
| Foreign Currency Translation | Foreign
Currency Translation The
Company uses the U.S. Dollar as the reporting currency for its financial statements. Functional currency is the currency of the primary
economic environment in which an entity operates. The functional currency of the Company’s wholly owned subsidiary is the Australian
dollar. Assets
and liabilities of the Company’s subsidiary are translated into U.S. Dollars at period-end foreign exchange rates, and
revenues and expenses are translated at average rates prevailing throughout the period. Translation adjustments are included in
“Accumulated other comprehensive income” as a separate component of stockholders’ equity, and in the “Effect
of exchange rate changes on cash and cash equivalents,” on the Company’s consolidated statements of cash flows.
Transaction gains and losses including intercompany transactions denominated in a currency other than the functional currency of the
entity involved are included in “Foreign currency exchange gain (loss), net” on the Company’s consolidated
statements of operations. | Foreign
Currency Translation The
Company uses the U.S. Dollar as the reporting currency for its financial statements. Functional currency is the currency of the primary
economic environment in which an entity operates. The functional currency of the Company’s wholly owned subsidiary is the Australian
dollar. Assets
and liabilities of the Company’s subsidiary are translated into U.S. Dollars at period-end foreign exchange rates, and revenues
and expenses are translated at average rates prevailing throughout the period. Translation adjustments are included in “Accumulated
other comprehensive income” as a separate component of stockholders’ equity, and in the “Effect of exchange rate changes
on cash,” on the Company’s consolidated statements of cash flows. Transaction gains and losses including
intercompany transactions denominated in a currency other than the functional currency of the entity involved are included in “Foreign
currency exchange gain (loss), net” on the Company’s consolidated statements of operations. |
| Accumulated Other Comprehensive Income (Loss) | Accumulated
Other Comprehensive Income (Loss) Accumulated
other comprehensive income (loss) includes foreign currency translation adjustments related to the Company’s subsidiary in Australia
and is excluded from the accompanying consolidated statements of operations. | Accumulated
Other Comprehensive Income (Loss) Accumulated
other comprehensive income (loss) includes foreign currency translation adjustments related to the Company’s subsidiary in Australia
and is excluded from the accompanying consolidated statements of operations. |
| Australia Research and Development Tax Credit | Australia
Research and Development Tax Credit The
Company’s wholly-owned Australian subsidiary incurs research and development expenses, primarily in the course of conducting clinical
trials. The Company’s Australian research and development activities qualify for the Australian government’s tax credit program,
which provides a 43.5 | Australia
Research and Development Tax Credit The
Company’s wholly-owned Australian subsidiary incurs research and development expenses, primarily in the course of conducting clinical
trials. The Company’s Australian research and development activities qualify for the Australian government’s tax credit program,
which provides a 43.5 |
| The CARES Act | | The
CARES Act On
March 27, 2020, the president signed into law the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) providing
nearly $2 trillion in economic relief to eligible businesses impacted by the coronavirus outbreak |
| Recent Accounting Pronouncements | Recent
Accounting Pronouncements No
recent accounting pronouncements are anticipated to have an impact on or related to the Company’s financial condition, results
of operations, or related disclosures. | Recent
Accounting Pronouncements No
recent accounting pronouncements are anticipated to have an impact on or related to the Company’s financial condition, results
of operations, or related disclosures. |
