Qualigen Therapeutics (QLGN) 10-Q 14 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 07, 2019
Document And Entity Information
Entity Registrant Name	RITTER PHARMACEUTICALS INC
Entity Central Index Key	0001460702
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,426,950
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 4,380,494	$ 7,812,259
Accrued interest receivable	3,438	54,456
Investments in marketable securities		6,988,780
Prepaid expenses	442,287	421,522
Total current assets	4,826,219	15,277,017
Other assets
Right-of-use assets	146,504
Other assets	22,725	22,725
Total other assets	169,229	22,725
Property and equipment, net	18,742	20,160
Total Assets	5,014,190	15,319,902
Current liabilities
Accounts payable	2,428,750	4,512,316
Accrued expenses	292,654	1,407,843
Lease liabilities	116,413
Other liabilities		13,359
Total current liabilities	2,837,817	5,933,518
Lease liabilities, non-current	40,790
Total Liabilities	2,878,607	5,933,518
Stockholders' equity
Common stock, $0.001 par value; 225,000,000 shares authorized, 9,042,330 and 6,036,562 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	9,042	6,037
Additional paid-in capital	75,228,081	71,505,160
Accumulated other comprehensive income (loss)		(923)
Accumulated deficit	(77,721,063)	(70,200,145)
Total stockholders' equity	2,135,583	9,386,384
Total Liabilities and Stockholders' Equity	5,014,190	15,319,902
Series A Preferred Stock [Member]
Stockholders' equity
Preferred stock, value	2,289,324	2,289,324
Series B Preferred Stock [Member]
Stockholders' equity
Preferred stock, value	2,090,199	3,906,931
Series C Preferred Stock [Member]
Stockholders' equity
Preferred stock, value	$ 240,000	$ 1,880,000

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2017
Preferred stock, par value			$ 0.001
Preferred stock, shares authorized			15,000,000
Common stock, par value	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized	225,000,000	225,000,000	225,000,000
Common stock, shares issued	9,042,330	6,036,562
Common stock, shares outstanding	9,042,330	6,036,562
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	9,500	9,500
Preferred stock, shares issued	4,080	4,080
Preferred stock, shares outstanding	4,080	4,080
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	6,000	6,000
Preferred stock, shares issued	3,000	5,608
Preferred stock, shares outstanding	3,000	5,608
Series C Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,880	1,880
Preferred stock, shares issued	240	1,880
Preferred stock, shares outstanding	240	1,880

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Operating costs and expenses:
Research and development	$ 1,433,036	$ 1,871,242	$ 5,007,891	$ 2,720,925
Patent costs	69,944	48,263	118,569	111,351
General and administrative	1,345,486	1,686,903	2,499,063	2,812,794
Total operating costs and expenses	2,848,466	3,606,408	7,625,523	5,645,070
Operating loss	(2,848,466)	(3,606,408)	(7,625,523)	(5,645,070)
Other income:
Interest income	33,314	21,756	104,605	47,728
Total other income	33,314	21,756	104,605	47,728
Net loss	(2,815,152)	(3,584,652)	(7,520,918)	(5,597,342)
Other comprehensive income:
Unrealized gain (loss) on debt securities	(588)		923
Comprehensive loss	$ (2,815,740)	$ (3,584,652)	$ (7,519,995)	$ (5,597,342)
Net loss per common share - basic and diluted	$ (0.31)	$ (0.71)	$ (0.88)	$ (1.12)
Weighted average common shares outstanding - basic and diluted	9,042,331	5,064,805	8,551,851	5,005,116

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Series A Preferred Stock [Member]	Series B Preferred Stock [Member]	Series C Preferred Stock [Member]	Common Stock [Member]	Paid-in Capital [Member]	Accumulated Deficit [Member]	Other Comprehensive Loss [Member]	Total
Balance at Dec. 31, 2017	$ 5,128,536			$ 4,940	$ 68,323,940	$ (53,331,434)		$ 20,125,982
Balance, shares at Dec. 31, 2017	9,140			4,939,639
Payout to stockholders for fractional shares					(3,256)			(3,256)
Conversion of preferred shares into common stock	$ (886,553)			$ 395	886,157
Conversion of preferred shares into common stock, shares	(1,580)			395,000
Stock-based compensation					390,682			390,682
Conversion of Series B preferred shares into common stock
Conversion of Series B preferred shares into common stock, shares
Conversion of Series C preferred shares into common stock
Conversion of Series C preferred shares into common stock, shares
Unrealized gain (loss) on investment in marketable securities
Fractional shares adjustment
Net loss						$ (5,597,342)		$ (5,597,342)
Balance at Jun. 30, 2018	$ 4,241,983			$ 5,335	69,597,523	(58,928,776)		14,916,065
Balance, shares at Jun. 30, 2018	7,560			5,334,639
Balance at Dec. 31, 2018	$ 2,289,324	$ 3,906,931	$ 1,880,000	$ 6,037	71,505,160	(70,200,145)	(923)	9,386,384
Balance, shares at Dec. 31, 2018	4,080	5,608	1,880	6,036,562
Payout to stockholders for fractional shares
Conversion of preferred shares into common stock
Conversion of preferred shares into common stock, shares
Stock-based compensation					$ 269,194			$ 269,194
Conversion of Series B preferred shares into common stock		$ (1,816,732)		$ 2,005	1,814,727
Conversion of Series B preferred shares into common stock, shares		(2,608)		2,005,770
Conversion of Series C preferred shares into common stock			$ (1,640,000)	$ 1,000	1,639,000
Conversion of Series C preferred shares into common stock, shares			(1,640)	1,000,000
Unrealized gain (loss) on investment in marketable securities							$ 923	$ 923
Fractional shares adjustment				(2)
Net loss						$ (7,520,918)		$ (7,520,918)
Balance at Jun. 30, 2019	$ 2,289,324	$ 2,090,199	$ 240,000	$ 9,042	$ 75,228,081	$ (77,721,063)		$ 2,135,583
Balance, shares at Jun. 30, 2019	4,080	3,000	240	9,042,330

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Net loss	$ (7,520,918)	$ (5,597,342)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	3,007	2,794
Amortization of right-of-use assets	51,815
Stock-based compensation	269,194	390,682
Settlement of Covance accounts payable		(893,823)
Amortization of discount on available-for-sale debt securities	(9,769)
Unrealized gain on available-for-sale securities	923
Changes in operating assets and liabilities:
Accrued interest receivable	51,018
Prepaid expenses	(20,765)	(371,137)
Accounts payable	(2,083,566)	17,512
Accrued expenses	(1,115,189)	79,970
Lease liabilities	(41,116)
Other liabilities	(13,359)	(908)
Net cash used in operating activities	(10,428,725)	(6,372,252)
Cash flows from (used in) investing activities
Purchase of property and equipment	(1,589)	(2,008)
Sale of investments in marketable debt securities	6,998,549
Net cash flows from investing activities	6,996,960	(2,008)
Cash flows used in financing activities
Payout to stockholders for fractional shares		(3,256)
Net cash used in financing activities		(3,256)
Net decrease in cash and cash equivalents	(3,431,765)	(6,377,516)
Cash and cash equivalents at beginning of period	7,812,259	22,631,971
Cash and cash equivalents at end of period	4,380,494	16,254,455
Supplemental disclosure of cash flow activities:
Cash paid for taxes	187,059
Supplemental disclosure of non-cash financing activities:
Conversion of preferred stock to common stock	3,453,726	886,553
Right-of-use assets obtained in exchange for lease liabilities	(198,319)
Lease liabilities arising from obtaining right-of-use assets	$ 184,644

Organization and Principal Acti

Organization and Principal Activities	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Principal Activities	NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES Ritter Pharmaceuticals, Inc. (“Ritter” or the “Company”) is a Delaware corporation headquartered in Los Angeles, California. The Company was formed as a Nevada limited liability company in March 2004, under the name Ritter Natural Sciences, LLC, and converted into a Delaware corporation in September 2008. Ritter Pharmaceuticals, Inc. develops innovative therapeutic products that modulate the gut microbiome to treat gastrointestinal diseases. The Company’s lead product candidate, RP-G28, is an orally administered, high purity galacto-oligosaccharide, currently in Phase 3 clinical development for the treatment of lactose intolerance (“LI”), a condition that affects millions of people worldwide. RP-G28 is designed to selectively stimulate the growth of lactose-metabolizing bacteria in the colon, thereby effectively adapting the gut microbiome to assist in digesting lactose (the sugar found in milk) that reaches the large intestine. RP-G28 has the potential to become the first drug approved by the Food and Drug Administration (“FDA”) for the treatment of LI. The Company is further exploring the functionality and discovering the therapeutic potential that gut microbiome changes may have on treating/preventing a variety of conditions including gastrointestinal diseases, cancer, metabolic, and liver diseases. The Company intends to expand its product pipeline and create added value in the future by evaluating RP-G28 in other indications, including orphan indications, developing additional products based on its underlying, microbiome-modulating technology, or in-licensing complementary products to treat these, or other, conditions. The Company currently operates in one business segment focusing on the development and commercialization of RP-G28. The Company is not organized by market and is managed and operated as one business. A single management team reports to the chief operating decision maker, the Chief Executive Officer. The Company does not currently operate any separate lines of business or separate business entities.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	NOTE 2 - BASIS OF PRESENTATION The accompanying interim period unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. However, in the opinion of management, all adjustments consisting of normal recurring adjustments considered necessary for a fair presentation of the financial position and results of operations have been included and management believes the disclosures that are made are adequate to make the information presented not misleading. The condensed balance sheets at December 31, 2018 have been derived from the audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 filed with the SEC on April 1, 2019 (the “2018 Annual Report”), but does not include all of the information and footnotes required by GAAP for complete financial statements. The results for the three and six months ended June 30, 2019 are not necessarily indicative of the results expected for the full fiscal year or any other period. The accompanying interim period unaudited condensed financial statements and related financial information included in this Quarterly Report on Form 10-Q (“Quarterly Report”) should be read in conjunction with the audited financial statements and notes thereto included in the Company’s 2018 Annual Report. All common share amounts and per share amounts have been adjusted to reflect a 1-for-10 reverse stock split of the Company’s common stock effected on March 23, 2018. Going Concern and Liquidity The accompanying interim period unaudited condensed financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has not generated any product revenue and has not achieved profitable operations. For the six months ended June 30, 2019, the Company had a net loss of approximately $7.5 million and had net cash used in operating activities of approximately $10.4 million. At June 30, 2019, the Company had working capital of approximately $2.0 million, an accumulated deficit of approximately $77.7 million, and cash and cash equivalents of approximately $4.4 million. There is no assurance that profitable operations will ever be achieved, and, if achieved, could be sustained on a continuing basis. In addition, development activities, clinical and pre-clinical testing, and commercialization of the Company’s products will require significant financing. These matters, among others, raise substantial doubt about the Company’s ability to continue as a going concern. Since inception, the operations of the Company have been funded through the sale of common shares, preferred shares, warrants and convertible debt. Management cannot be certain that additional funding will be available on acceptable terms, or at all. To the extent that the Company raises additional funds by issuing equity securities, the Company’s stockholders may experience significant dilution. Any debt financing, if available, may involve restrictive covenants that could impact the Company’s ability to conduct business. If the Company is not able to raise additional capital when required or on acceptable terms, the Company may have to (i) significantly delay, scale back or discontinue the development and/or commercialization of one or more product candidates; (ii) seek collaborators for product candidates at an earlier stage than otherwise would be desirable and on terms that are less favorable than might otherwise be available; or (iii) relinquish or otherwise dispose of rights to technologies, product candidates or products that the Company would otherwise seek to develop or commercialize. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES There have been no material changes in the Company’s significant accounting policies as of and for the six months ended June 30, 2019, as compared with the significant accounting policies described in the Company’s 2018 Annual Report, except for the recent adoption of the new lease accounting pronouncement as disclosed below. 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 as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash consists of amounts held in financial institutions that are immediately available to the Company. The funds are maintained at stable financial institutions, generally at amounts in excess of federally insured limits. Cash equivalents include money market funds and held-to-maturity securities with a maturity date of 90 days or less. As of June 30, 2019, cash and cash equivalents consisted of bank deposits, cash and investments in money market funds and held-to-maturity securities. The Company has not realized any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions at which those deposits are held. Investments in Marketable Securities Investments in marketable securities are held in a custodial account at a financial institution and managed by the Company’s capital advisors based on the Company’s investment guidelines. All of the Company’s investments in marketable securities are classified as available-for-sale debt securities and are carried at fair value. Interest on these securities, as well as the amortization of discounts and premiums, is included in interest income in the statements of operations. The unrealized gains and losses on these securities are excluded from earnings and reported in other comprehensive income until realized, except when the declines in value are considered to be other than temporary. Other than temporary impairment losses related to credit losses are considered to be realized losses. When available-for-sale debt securities are sold, the cost of the securities is specifically identified and is used to determine the realized gain or loss. Securities classified as current assets have maturity dates of less than or equal to one year from the balance sheet date. Operating Leases The Company determines if a contract contains a lease at inception. The Company’s material operating lease relates to a single office space. Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease assets represent the Company’s right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs, lease incentives, and impairment of operating lease assets. To determine the present value of lease payments not yet paid, the Company estimates incremental secured borrowing rates corresponding to the maturities of the leases. As the Company has no outstanding debt or committed credit facilities, secured or otherwise, the Company estimates this rate based on prevailing financial market conditions, comparable company and credit analysis, and management judgment. The Company’s leases typically contain rent escalations over the lease term. The Company recognize expense for these leases on a straight-line basis over the lease term. Additionally, tenant incentives used to fund leasehold improvements are recognized when earned and reduce the Company’s right-of-use (“ROU”) asset related to the lease. These are amortized through the ROU asset as reductions of expense over the lease term. The Company’s lease agreement does not contain any material residual value guarantees or material restrictive covenants. The Company has no lease agreements with lease and non-lease components. Related to the adoption of Topic 842, the Company’s policy elections were as follows: Separation of lease and non-lease components While the Company does not currently have any lease agreement with lease and non-lease components, the Company elected this expedient to account for lease and non-lease components as separate components. Short-term policy The Company has elected the short-term lease recognition exemption for all applicable classes of underlying assets. Short-term disclosures include only those leases with a term greater than one month and 12 months or less, and expense is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less, that do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise, are not recorded on the balance sheet. Other information related to leases was as follows: Six Months Ended Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liability: Operating cash flows from operating lease 57,489 Operating lease asset obtained in exchange for lease obligation: Operating lease $ 198,319 Remaining lease term Operating lease 1.3 years Discount rate Operating lease 6.00 % Future payments under noncancelable extended operating leases having initial or remaining terms of one year or more are as follows for the remaining fiscal year and thereafter: Future minimum lease payments year ending December 31, 2019 $ 60,750 2020 103,254 Total future minimum lease payments, undiscounted 164,004 Less imputed interest (6,801 ) Present value of lease liabilities $ 157,203 Operating lease liabilities reported as of June 30, 2019: Operating lease liabilities-current $ 116,413 Operating lease liabilities-non-current 40,790 Total $ 157,203 Equity-linked Financial Instruments The Company classifies outstanding common stock warrants with down-round features as equity, if the instrument would otherwise be classified in equity absent the down-round feature. The Company will recognize the value of a down-round feature when it is triggered and the warrant’s strike price has been adjusted downward, as a deemed dividend and reduction of income available to common stockholders in computing basic earnings per share. Net Loss Per Share The Company determines basic loss per share and diluted loss per share in accordance with the provisions of Accounting Standards Codification (“ASC”) 260, “Earnings per Share.” Basic net loss per share was calculated by dividing net loss by the weighted-average common shares outstanding during the period. Diluted net loss per share was calculated by dividing net loss by the weighted-average common shares outstanding during the period using the treasury stock method or the two-class method, whichever is more dilutive. The potentially dilutive stock options issued under the 2015 Plan (described in Note 8), Series A, B and C Convertible Preferred Stock (described in Note 6) and warrants to purchase the Company’s common stock (described in Notes 6 and 7) were not considered in the computation of diluted net loss per share because they would be anti-dilutive. Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive income (loss) in the financial statements in the period in which they are recognized. Net income (loss) and other comprehensive income (loss), including foreign currency translation adjustments and unrealized gains and losses on investments are reported, net of their related tax effect, to arrive at comprehensive income (loss). For the six months ended June 30, 2019, comprehensive income consisted of unrealized gains on investments in available-for-sale debt securities. There were no unrealized gains (losses) on investments in available-for-sale debt securities and held-to-maturity debt securities for the six months ended June 30, 2018. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement” In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Other accounting standard updates effective after June 30, 2019 are not expected to have a material effect on the Company’s financial statements. Recently Adopted Accounting Pronouncements In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Leases (Topic 842) Targeted Improvements The Company elected the available package of practical expedients, but not the hindsight practical expedient, and implemented internal controls to enable the preparation of financial information on adoption as of January 1, 2019. The standard had a material impact on the Company’s condensed balance sheets but did not have an impact on its statements of operations and comprehensive loss. The most significant impact was the recognition of a ROU asset and lease liability for the Company’s sole operating lease—the Company had no finance leases. Adoption of the standard did not require the Company to restate previously reported results as it elected to apply a modified retrospective approach at the beginning of the period of adoption rather than at the beginning of the earliest comparative period presented. On August 26, 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), In July 2017, the FASB issued ASU No. 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. In January 2017, the FASB issued ASU No. 2017-04 “ Intangibles – Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment In May 2017, the FASB issued ASU No. 2017-09, “ Stock Compensation – Scope of Modification Accounting” In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 (“SAB 118”), In June 2018, the FASB issued ASU No. 2018-07, Improvements to Nonemployee Share-Based Payment Accounting Compensation—Stock Compensation Equity—Equity-Based Payments to Non-Employees In August 2018, the SEC adopted final rules under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders’ equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders’ equity presented in the balance sheets must be provided in a note or separate statement. The analysis must present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. These final rules became effective on November 5, 2018, with issuers required to provide their analysis of stockholders’ equity in quarterly reports on Form 10-Q beginning with reports for the quarter ended March 31, 2019. The Company included the analysis of changes in stockholders’ equity in the interim period unaudited condensed financial statements for the quarter ended March 31, 2019 as well as this Quarterly Report and will continue to do so in the Company’s quarterly reports on Form 10-Q in the future. The Company does not anticipate that the adoption of these SEC amendments will have a material effect on the Company’s financial position, results of operations, cash flows or stockholders’ equity.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 4 - PROPERTY AND EQUIPMENT Property and equipment consists of the following: Estimated Life June 30, 2019 December 31, 2018 Computers and equipment 5 years $ 17,178 $ 15,589 Furniture and fixtures 7 years 19,158 19,158 Total property and equipment 36,336 34,747 Accumulated depreciation (17,594 ) (14,587 ) Total property and equipment, net $ 18,742 $ 20,160 Depreciation expense of approximately $1,500 was recognized for the three months ended June 30, 2019 and approximately $1,400 was recognized for 2018. Depreciation expense of approximately $3,000 was recognized for the six months ended June 30, 2019 and approximately $2,800 was recognized for 2018. Depreciation expense is classified in general and administrative expense in the accompanying unaudited condensed statements of operations.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 5 - COMMITMENTS AND CONTINGENCIES Master Services Agreement In May 2018, the Company entered into an Amended and Restated Master Services Agreement (“Service Agreement”) with a clinical research organization (“CRO”), pursuant to which the CRO will perform certain services related to the management and execution of certain clinical trials involving the Company’s lead product candidate, RP-G28. The Services Agreement supersedes the Master Service Agreement, dated August 30, 2016, by and between the Company and the CRO. The precise services to be performed by the CRO under the Services Agreement will be mutually agreed upon by the parties in writing and set forth in one or more task orders. The Company is not obligated to purchase any minimum or specific volume or dollar amount of services under the Services Agreement. The term of the Services Agreement is four years from the effective date of the Service Agreement unless earlier terminated. The Company may terminate the Services Agreement or any task without cause immediately upon giving the CRO notice of such termination. The CRO may terminate a task order if the Company has materially defaulted on its obligations under the Services Agreement or any task order and has not cured such material default with advance notice to the Company, as described in the Services Agreement. Lease Agreement On July 9, 2015, the Company entered into a lease with a California limited partnership, pursuant to which the Company leased approximately 2,780 square feet of office space in Los Angeles, California for its headquarters. The lease provides for a term of sixty-one (61) months, commencing on October 1, 2015. The Company paid no rent for the first month of the term and paid base rent of $9,174 per month for months 2 through 13 of the term, with increasing base rent for each twelve-month period thereafter under the term of the lease to a maximum of $10,325 per month for months 50 through 61. The base rent payments do not include the Company’s proportionate share of any operating expenses, including real estate taxes. The Company has the option to extend the term of the lease for one five-year term, provided that the rent would be subject to market adjustment at the beginning of the renewal term. Rent expense, which is recognized on a straight-line basis over the lease term, was approximately $29,000 for the three months ended June 30, 2019 and 2018, approximately $59,000 for the six months ended June 30, 2019, and approximately $58,000 for the six months ended June 30, 2018 and is recorded in general and administrative expenses in the accompanying unaudited condensed statements of operations. Legal From time to time, the Company may be party to legal claims and proceedings that arise in the ordinary course of business, which may relate to our operations or assets. These may include disputes and lawsuits related to intellectual property, licensing, contract law and employee relations matters. Periodically, the Company reviews the status of significant matters, if any exist, and assesses its potential financial exposure. If the potential loss from any claim or legal claim is considered probable and the amount can be estimated, the Company accrues a liability for the estimated loss. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability related to pending claims and litigation. We do not believe that any individual legal claim or proceeding that is currently pending is material to the Company or that these claims and proceedings in the aggregate are material to the Company.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Stockholders' Equity	NOTE 6 - STOCKHOLDERS’ EQUITY Authorized Shares The Company’s Amended and Restated Certificate of Incorporation authorizes the issuance of up to 225,000,000 shares of common stock, $0.001 par value per share, and 15,000,000 shares of preferred stock, $0.001 par value per share, of which 9,500, 6,000 and 1,880 shares are designated for Series A, B and C, respectively. All common share amounts and per share amounts were retroactively restated to reflect a 1-for-10 reverse stock split that was effective March 23, 2018. As of June 30, 2019, the Company had 9,042,330 shares of common stock, 4,080 shares of Series A convertible preferred stock, 3,000 shares of Series B convertible preferred stock and 240 shares of Series C convertible preferred stock issued and outstanding. Each share of the Company’s common stock is entitled to one vote, and all shares rank equally as to voting and other matters. Each share of Series A preferred stock is convertible by the holder at $4.00 per share; subject to adjustment for stock splits, stock dividends, subsequent rights offerings, pro rata distributions, and fundamental transactions. Each share of Series B preferred stock is convertible by the holder at $1.30 per share; subject to customary adjustment in the event of future stock dividends and stock splits. Each share of Series C preferred stock is convertible by the holder at $1.64 per share; subject to customary adjustment in the event of future stock dividends and stock splits. Holders are entitled to receive, and the Company shall pay, dividends on outstanding shares of Series A, Series B and Series C preferred stock, on an as-if-converted-to-common-stock basis, equal to and in the same form as dividends actually paid on outstanding common shares when, as and if such dividends are paid on outstanding common shares. Upon any liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary, the holders of Series A, Series B and Series C preferred stock shall be entitled to receive out of the assets of the Company, whether capital or surplus, the same amount that a holder of common stock would receive if the Series A, Series B and Series C preferred stock were fully converted to common stock, which amounts shall be paid pari passu with all common stockholders. Holders of Series A, Series B and Series C preferred stock have no voting rights. However, as long as any shares of Series A, Series B and Series C preferred stock are outstanding, the Company may not, without the affirmative vote of the holders of a majority of the then outstanding shares of Series A, Series B and Series C preferred stock, (a) alter or change adversely the powers, preferences or rights given to the Series A, Series B and Series C preferred stock or alter or amend the applicable Certificate of Designation, (b) amend the Company’s certificate of incorporation or other charter documents in any manner that adversely affects any rights of the holders of Series A, Series B and Series C preferred stock, (c) increase the number of authorized shares of Series A, Series B and Series C preferred stock, or (d) enter into any agreement with respect to any of the foregoing. Aspire Capital Common Stock Purchase Agreement On May 4, 2017, the Company entered into a common stock purchase agreement with Aspire Capital Fund, LLC (“Aspire Capital”), which the Company and Aspire amended and restated on March 29, 2019 (as amended and restated, the “Aspire Purchase Agreement”). The Aspire Purchase Agreement was amended and restated to adjust certain provisions of the agreement to improve the Company’s access to funding under the agreement. The Aspire Purchase Agreement provides access to the Company of up to an aggregate of $6.5 million in proceeds through the sale of shares of its common stock through March 31, 2021. Under the Aspire Purchase Agreement, as amended, on any trading day the Company selects, it has the right, in its sole discretion, to present Aspire Capital with a purchase notice (each, a “Purchase Notice”), directing Aspire Capital (as principal) to purchase up to 100,000 shares of its common stock per trading day (which could be increased by as much as an additional 2,000,000 shares per trading day by mutual agreement), up to an aggregate of $6,500,000 of its common stock, at a per share price (the “Purchase Price”) equal to the lesser of: (i) the lowest sale price of the Company’s common stock on the sale date, or (ii) the arithmetic average of the three lowest closing sale prices for the Company’s common stock during the ten (10) consecutive trading days ending on the trading day immediately preceding the sale date. The aggregate purchase price payable by Aspire Capital on any one purchase date cannot exceed $500,000, unless otherwise mutually agreed. In addition, on any date on which the Company submits a Purchase Notice to Aspire Capital in an amount of at least 100,000 shares and its stock price is not less than $0.25 per share, the Company can also, in its sole discretion, present Aspire Capital with a volume-weighted average price purchase notice (each, a “VWAP Purchase Notice”) directing Aspire Capital to purchase an amount of its common stock equal to up to 30% of the aggregate shares of the Company’s common stock traded on its principal market on the next trading day (the “VWAP Purchase Date”), as determined by the Company. Under the terms of the Aspire Purchase Agreement, the number of shares that can be sold pursuant to Aspire Capital is limited to 1,807,562 (the “Exchange Cap”), which represented 19.99% of the Company’s outstanding shares of common stock as of March 29, 2019, the date the agreement was amended and restated, unless stockholder approval or an exception pursuant to the rules of the NASDAQ Capital Market was obtained to issue more than 19.99%. This limitation would not apply if, at any time the Exchange Cap was reached and at all times thereafter, the average price paid for all shares issued under the Aspire Purchase Agreement was equal to or greater than $0.86 (the “Minimum Price”), which was the closing price of the Company’s common stock immediately preceding the signing of the agreement. As of June 30, 2019, no shares of common stock have been sold or issued to Aspire Capital under the Aspire Purchase Agreement.

Warrants

Warrants	6 Months Ended
	Jun. 30, 2019
Warrants and Rights Note Disclosure [Abstract]
Warrants	NOTE 7 - WARRANTS Warrants to purchase an aggregate of 8,413,017 shares of the Company’s common stock were outstanding at June 30, 2019. These warrants are all vested and exercisable, have exercise prices ranging from $1.30 to $93.00 per share, with a weighted average exercise price of $1.78, and expire at various dates through November 2023.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	NOTE 8 - STOCK-BASED COMPENSATION Equity Incentive Plans The Company has issued equity awards pursuant to its 2015 Equity Incentive Plan (the “2015 Plan”), 2009 Stock Plan and 2008 Stock Plan (collectively the “Plans”). The Plans permit the Company to grant non-statutory stock options, incentive stock options and other equity awards to the Company’s employees, outside directors and consultants; however, incentive stock options may only be granted to the Company’s employees. Beginning June 29, 2015, no further awards may be granted under the 2008 Stock Plan or 2009 Stock Plan. However, to the extent awards under the 2008 Plan or 2009 Plan are forfeited or lapse unexercised or are settled in cash, the common stock subject to such awards will be available for future issuance under the 2015 Plan. On June 2, 2017, the stockholders of the Company approved an amendment to the 2015 Plan at the 2017 annual meeting of stockholders, which among other things, increased the number of shares that may be issued pursuant to awards under the 2015 Plan by 83,800 shares of common stock. On September 15, 2017, the stockholders of the Company approved an amendment to the 2015 Plan at a special meeting of stockholders, which among other things, increased the number of shares that may be issued pursuant to awards under the 2015 Plan by 2,585,871 shares of common stock. As of June 30, 2019, the aggregate number of shares of common stock authorized for issuance under the 2015 Plan, as amended, was 2,750,000 and 186,124 shares were available for issuance as of June 30, 2019. The following represents a summary of the options granted to employees and non-employees that are outstanding at June 30, 2019 and changes during the period then ended: Options Weighted Average Exercise Price Aggregate Intrinsic Value Weighted Average Remaining Contractual Life (in years) Outstanding at December 31, 2018 673,885 $ 19.82 $ ― 8.2 Granted 668,750 $ 0.60 $ 314,000 9.6 Exercised/ Expired/ Forfeited (1,500 ) $ 3.40 $ ― - Outstanding at June 30, 2019 1,341,135 $ 10.25 $ 314,000 8.6 Exercisable at June 30, 2019 443,350 $ 33.90 $ 37,000 7.3 The exercise price for an option issued under the 2015 Plan is determined by the Board of Directors, but will be (i) in the case of an incentive stock option (A) granted to an employee who, at the time of grant of such option, is a 10% stockholder, no less than 110% of the fair market value per share on the date of grant; or (B) granted to any other employee, no less than 100% of the fair market value per share on the date of grant; and (ii) in the case of a non-statutory stock option, no less than 100% of the fair market value per share on the date of grant. The options awarded under the Plans will vest as determined by the Board of Directors but will not exceed a ten-year period. Fair Value of Equity Awards The Company utilizes the Black-Scholes option pricing model to value awards under its Plans. Key valuation assumptions include: ● Expected dividend yield. ● Expected stock-price volatility. ● Risk-free interest rate. ● Expected term. The material factors incorporated in the Black-Scholes model in estimating the fair value of the options granted for the periods presented were as follows (three months ended June 30, 2018 stock price adjusted for 1-for-10 reverse stock split): For the three months ended June 30, For the six months ended June 30, 2019 2018 2019 2018 Expected dividend yield 0.00 % 0.00 % 0.00 % 0.00 % Expected stock-price volatility 46.33% – 48.17 % 46.47% – 50.34 % 46.33% – 48.17 % 46.47 % – 53.11 % Risk-free interest rate 2.51% – 2.60 % 2.75% – 3.02 % 2.51% – 2.60 % 2.46 % – 3.02 % Expected average term of options 6 6 6 6 Stock price $ 0.60 $2.73 – $3.32 $ 0.60 $2.73 – $3.40 Restricted Stock Units Certain employees and consultants have been awarded restricted stock units. The restricted stock units include either milestone or time-based vesting. The following table summarizes restricted stock unit activity for the six months ended June 30, 2019: Number of Units Weighted Average Grant Date Fair Value Unvested at December 31, 2018 1,100,000 $ 2.73 Granted 35,000 0.63 Forfeited ― ― Vested (23,334 ) 0.63 Unvested at June 30, 2019 1,111,666 $ 2.71 Stock-Based Compensation The Company recognized stock-based compensation expense for services within general and administrative expense in the accompanying statements of operations of approximately $123,000 and $178,000 for the three months ended June 30, 2019 and 2018, respectively, and $269,000 and $391,000 for the six months ended June 30, 2019 and 2018, respectively. As of June 30, 2019, there was approximately $423,000 of total unrecognized compensation cost related to unvested stock-based compensation arrangements. This cost is expected to be recognized over a weighted average period of 0.8 years. No stock options were exercised during the six months ended June 30, 2019.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 9 - RELATED PARTY TRANSACTIONS A director of the Company is a managing director of Javelin Venture Partners GP, LLC, the general partner of Javelin Venture Partners GP, L.P., which holds a significant investment in the Company’s common stock and warrants. Two directors of the Company have acted as a managing director of Stonehenge Partners, LLC, which holds an investment in the Company’s common stock. The Company has not entered into or been a participant in any other transaction in which a related party had or will have a direct or indirect material interest for the six months ended June 30, 2019.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	NOTE 10 – SUBSEQUENT EVENTS On May 4, 2017, the Company entered into a common stock purchase agreement with Aspire Capital, which the Company and Aspire amended and restated on March 29, 2019 and on July 23, 2019 (as amended and restated, the “Aspire Purchase Agreement”, see footnote 6).

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
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 as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash consists of amounts held in financial institutions that are immediately available to the Company. The funds are maintained at stable financial institutions, generally at amounts in excess of federally insured limits. Cash equivalents include money market funds and held-to-maturity securities with a maturity date of 90 days or less. As of June 30, 2019, cash and cash equivalents consisted of bank deposits, cash and investments in money market funds and held-to-maturity securities. The Company has not realized any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions at which those deposits are held.
Investments in Marketable Securities	Investments in Marketable Securities Investments in marketable securities are held in a custodial account at a financial institution and managed by the Company’s capital advisors based on the Company’s investment guidelines. All of the Company’s investments in marketable securities are classified as available-for-sale debt securities and are carried at fair value. Interest on these securities, as well as the amortization of discounts and premiums, is included in interest income in the statements of operations. The unrealized gains and losses on these securities are excluded from earnings and reported in other comprehensive income until realized, except when the declines in value are considered to be other than temporary. Other than temporary impairment losses related to credit losses are considered to be realized losses. When available-for-sale debt securities are sold, the cost of the securities is specifically identified and is used to determine the realized gain or loss. Securities classified as current assets have maturity dates of less than or equal to one year from the balance sheet date.
Operating Leases	Operating Leases The Company determines if a contract contains a lease at inception. The Company’s material operating lease relates to a single office space. Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease assets represent the Company’s right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs, lease incentives, and impairment of operating lease assets. To determine the present value of lease payments not yet paid, the Company estimates incremental secured borrowing rates corresponding to the maturities of the leases. As the Company has no outstanding debt or committed credit facilities, secured or otherwise, the Company estimates this rate based on prevailing financial market conditions, comparable company and credit analysis, and management judgment. The Company’s leases typically contain rent escalations over the lease term. The Company recognize expense for these leases on a straight-line basis over the lease term. Additionally, tenant incentives used to fund leasehold improvements are recognized when earned and reduce the Company’s right-of-use (“ROU”) asset related to the lease. These are amortized through the ROU asset as reductions of expense over the lease term. The Company’s lease agreement does not contain any material residual value guarantees or material restrictive covenants. The Company has no lease agreements with lease and non-lease components. Related to the adoption of Topic 842, the Company’s policy elections were as follows: Separation of lease and non-lease components While the Company does not currently have any lease agreement with lease and non-lease components, the Company elected this expedient to account for lease and non-lease components as separate components. Short-term policy The Company has elected the short-term lease recognition exemption for all applicable classes of underlying assets. Short-term disclosures include only those leases with a term greater than one month and 12 months or less, and expense is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less, that do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise, are not recorded on the balance sheet. Other information related to leases was as follows: Six Months Ended Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liability: Operating cash flows from operating lease 57,489 Operating lease asset obtained in exchange for lease obligation: Operating lease $ 198,319 Remaining lease term Operating lease 1.3 years Discount rate Operating lease 6.00 % Future payments under noncancelable extended operating leases having initial or remaining terms of one year or more are as follows for the remaining fiscal year and thereafter: Future minimum lease payments year ending December 31, 2019 $ 60,750 2020 103,254 Total future minimum lease payments, undiscounted 164,004 Less imputed interest (6,801 ) Present value of lease liabilities $ 157,203 Operating lease liabilities reported as of June 30, 2019: Operating lease liabilities-current $ 116,413 Operating lease liabilities-non-current 40,790 Total $ 157,203
Equity-linked Financial Instruments	Equity-linked Financial Instruments The Company classifies outstanding common stock warrants with down-round features as equity, if the instrument would otherwise be classified in equity absent the down-round feature. The Company will recognize the value of a down-round feature when it is triggered and the warrant’s strike price has been adjusted downward, as a deemed dividend and reduction of income available to common stockholders in computing basic earnings per share.
Net Loss Per Share	Net Loss Per Share The Company determines basic loss per share and diluted loss per share in accordance with the provisions of Accounting Standards Codification (“ASC”) 260, “Earnings per Share.” Basic net loss per share was calculated by dividing net loss by the weighted-average common shares outstanding during the period. Diluted net loss per share was calculated by dividing net loss by the weighted-average common shares outstanding during the period using the treasury stock method or the two-class method, whichever is more dilutive. The potentially dilutive stock options issued under the 2015 Plan (described in Note 8), Series A, B and C Convertible Preferred Stock (described in Note 6) and warrants to purchase the Company’s common stock (described in Notes 6 and 7) were not considered in the computation of diluted net loss per share because they would be anti-dilutive.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive income (loss) in the financial statements in the period in which they are recognized. Net income (loss) and other comprehensive income (loss), including foreign currency translation adjustments and unrealized gains and losses on investments are reported, net of their related tax effect, to arrive at comprehensive income (loss). For the six months ended June 30, 2019, comprehensive income consisted of unrealized gains on investments in available-for-sale debt securities. There were no unrealized gains (losses) on investments in available-for-sale debt securities and held-to-maturity debt securities for the six months ended June 30, 2018.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement” In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Other accounting standard updates effective after June 30, 2019 are not expected to have a material effect on the Company’s financial statements.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Leases (Topic 842) Targeted Improvements The Company elected the available package of practical expedients, but not the hindsight practical expedient, and implemented internal controls to enable the preparation of financial information on adoption as of January 1, 2019. The standard had a material impact on the Company’s condensed balance sheets but did not have an impact on its statements of operations and comprehensive loss. The most significant impact was the recognition of a ROU asset and lease liability for the Company’s sole operating lease—the Company had no finance leases. Adoption of the standard did not require the Company to restate previously reported results as it elected to apply a modified retrospective approach at the beginning of the period of adoption rather than at the beginning of the earliest comparative period presented. On August 26, 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), In July 2017, the FASB issued ASU No. 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. In January 2017, the FASB issued ASU No. 2017-04 “ Intangibles – Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment In May 2017, the FASB issued ASU No. 2017-09, “ Stock Compensation – Scope of Modification Accounting” In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 (“SAB 118”), In June 2018, the FASB issued ASU No. 2018-07, Improvements to Nonemployee Share-Based Payment Accounting Compensation—Stock Compensation Equity—Equity-Based Payments to Non-Employees In August 2018, the SEC adopted final rules under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders’ equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders’ equity presented in the balance sheets must be provided in a note or separate statement. The analysis must present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. These final rules became effective on November 5, 2018, with issuers required to provide their analysis of stockholders’ equity in quarterly reports on Form 10-Q beginning with reports for the quarter ended March 31, 2019. The Company included the analysis of changes in stockholders’ equity in the interim period unaudited condensed financial statements for the quarter ended March 31, 2019 as well as this Quarterly Report and will continue to do so in the Company’s quarterly reports on Form 10-Q in the future. The Company does not anticipate that the adoption of these SEC amendments will have a material effect on the Company’s financial position, results of operations, cash flows or stockholders’ equity.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Schedule of Supplemental Cash Flow Information Related to Leases	Other information related to leases was as follows: Six Months Ended Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liability: Operating cash flows from operating lease 57,489 Operating lease asset obtained in exchange for lease obligation: Operating lease $ 198,319 Remaining lease term Operating lease 1.3 years Discount rate Operating lease 6.00 %
Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases	Future payments under noncancelable extended operating leases having initial or remaining terms of one year or more are as follows for the remaining fiscal year and thereafter: Future minimum lease payments year ending December 31, 2019 $ 60,750 2020 103,254 Total future minimum lease payments, undiscounted 164,004 Less imputed interest (6,801 ) Present value of lease liabilities $ 157,203 Operating lease liabilities reported as of June 30, 2019: Operating lease liabilities-current $ 116,413 Operating lease liabilities-non-current 40,790 Total $ 157,203

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consists of the following: Estimated Life June 30, 2019 December 31, 2018 Computers and equipment 5 years $ 17,178 $ 15,589 Furniture and fixtures 7 years 19,158 19,158 Total property and equipment 36,336 34,747 Accumulated depreciation (17,594 ) (14,587 ) Total property and equipment, net $ 18,742 $ 20,160

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	The following represents a summary of the options granted to employees and non-employees that are outstanding at June 30, 2019 and changes during the period then ended: Options Weighted Average Exercise Price Aggregate Intrinsic Value Weighted Average Remaining Contractual Life (in years) Outstanding at December 31, 2018 673,885 $ 19.82 $ ― 8.2 Granted 668,750 $ 0.60 $ 314,000 9.6 Exercised/ Expired/ Forfeited (1,500 ) $ 3.40 $ ― - Outstanding at June 30, 2019 1,341,135 $ 10.25 $ 314,000 8.6 Exercisable at June 30, 2019 443,350 $ 33.90 $ 37,000 7.3
Schedule of Assumptions Used in Black-Scholes Option-Pricing Method	The material factors incorporated in the Black-Scholes model in estimating the fair value of the options granted for the periods presented were as follows (three months ended June 30, 2018 stock price adjusted for 1-for-10 reverse stock split): For the three months ended June 30, For the six months ended June 30, 2019 2018 2019 2018 Expected dividend yield 0.00 % 0.00 % 0.00 % 0.00 % Expected stock-price volatility 46.33% – 48.17 % 46.47% – 50.34 % 46.33% – 48.17 % 46.47 % – 53.11 % Risk-free interest rate 2.51% – 2.60 % 2.75% – 3.02 % 2.51% – 2.60 % 2.46 % – 3.02 % Expected average term of options 6 6 6 6 Stock price $ 0.60 $2.73 – $3.32 $ 0.60 $2.73 – $3.40
Schedule of Nonvested Restricted Stock Units	The following table summarizes restricted stock unit activity for the six months ended June 30, 2019: Number of Units Weighted Average Grant Date Fair Value Unvested at December 31, 2018 1,100,000 $ 2.73 Granted 35,000 0.63 Forfeited ― ― Vested (23,334 ) 0.63 Unvested at June 30, 2019 1,111,666 $ 2.71

Basis of Presentation (Details

Basis of Presentation (Details Narrative) - USD ($)	Mar. 23, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reverse stock split	1-for-10 reverse stock split				1-for-10 reverse stock
Net loss		$ (2,815,152)	$ (3,584,652)	$ (7,520,918)	$ (5,597,342)
Net cash used in operating activities				(10,428,725)	$ (6,372,252)
Working capital		2,000,000		2,000,000
Accumulated deficit		(77,721,063)		(77,721,063)		$ (70,200,145)
Cash and cash equivalents		$ 4,380,494		$ 4,380,494		$ 7,812,259

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accounting Policies [Abstract]
Unrealized gain on debt securities	$ (588)		$ 923
Held-to-maturity debt securities

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Accounting Policies [Abstract]
Operating cash flows from operating lease	$ 57,489
Operating lease asset obtained in exchange for lease obligation: Operating lease	$ 198,319
Operating lease: Remaining lease term	1 year 3 months 19 days
Operating lease: Discount rate	6.00%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
2019	$ 60,750
2020	103,254
Total future minimum lease payments, undiscounted	164,004
Less imputed interest	(6,801)
Present value of lease liabilities	157,203
Operating lease liabilities-current	116,413
Operating lease liabilities-non-current	40,790
Total	$ 157,203

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1,500	$ 1,400	$ 3,000	$ 2,800

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 36,336	$ 34,747
Accumulated depreciation	(17,594)	(14,587)
Total property and equipment, net	$ 18,742	20,160
Computers and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Life	5 years
Total property and equipment	$ 17,178	15,589
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Life	7 years
Total property and equipment	$ 19,158	$ 19,158

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative)	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jul. 09, 2015ft²
Rent expense	$ 29,000	$ 29,000	$ 59,000	$ 58,000
Lease renewal term	5 years		5 years
Lease, option to extend			The Company has the option to extend the term of the lease for one five-year term, provided that the rent would be subject to market adjustment at the beginning of the renewal term.
Century Park [Member]
Area of lease | ft²					2,780
Lease agreement term					61 months
Months 2 Through 13 [Member]
Rent expense			$ 9,174
Months 50 Through 61 [Member]
Rent expense			$ 10,325

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative)	Mar. 29, 2019USD ($)shares	Mar. 23, 2018	Jun. 30, 2019USD ($)Integer$ / sharesshares	Jun. 30, 2018	Dec. 31, 2018$ / sharesshares	Sep. 30, 2017$ / sharesshares
Common stock, shares authorized			225,000,000		225,000,000	225,000,000
Common stock, par value | $ / shares			$ 0.001		$ 0.001	$ 0.001
Preferred stock, shares authorized						15,000,000
Preferred stock, par value | $ / shares						$ 0.001
Reverse split stock		1-for-10 reverse stock split		1-for-10 reverse stock
Common stock, shares issued			9,042,330		6,036,562
Common stock, shares outstanding			9,042,330		6,036,562
Common stock voting, description			Each share of the Company's common stock is entitled to one vote, and all shares rank equally as to voting and other matters.
2017 Aspire Purchase Agreement [Member]
Number of common shares sold			100,000
Number of shares possible increase per trading day			2,000,000
Number of common shares sold, value | $			$ 6,500,000
Debt instrument convertible Consecutive trading days | Integer			10
Aggregate percentage of shares, direction under purchase			30.00%
Percentage for common stock outstanding	19.99%
2017 Aspire Purchase Agreement [Member] | Maximum [Member]
Maximum purchase price payable on one purchase date | $			$ 500,000
Number of common stock may be sold	1,807,562
Percentage for common stock outstanding	19.99%
2017 Aspire Purchase Agreement [Member] | Minimum [Member]
Minimum number of shares to be purchased under purchase notice			100,000
Minimum stock price under purchase notice | $ / shares			$ 0.25
Average price paid | $ / shares			$ 0.86
2017 Aspire Purchase Agreement [Member] | Aspire Capital Fund LLC [Member] | March 31, 2021 [Member]
Proceeds from sale of common stock | $	$ 6,500,000
Series A Preferred Stock [Member]
Preferred stock, shares authorized			9,500		9,500
Preferred stock, par value | $ / shares			$ 0.001		$ 0.001
Preferred stock, shares issued			4,080		4,080
Preferred stock, shares outstanding			4,080		4,080
Preferred stock convertible into common stock conversion price per share | $ / shares			$ 4
Series B Preferred Stock [Member]
Preferred stock, shares authorized			6,000		6,000
Preferred stock, par value | $ / shares			$ 0.001		$ 0.001
Preferred stock, shares issued			3,000		5,608
Preferred stock, shares outstanding			3,000		5,608
Preferred stock convertible into common stock conversion price per share | $ / shares			$ 1.30
Series C Preferred Stock [Member]
Preferred stock, shares authorized			1,880		1,880
Preferred stock, par value | $ / shares			$ 0.001		$ 0.001
Preferred stock, shares issued			240		1,880
Preferred stock, shares outstanding			240		1,880
Preferred stock convertible into common stock conversion price per share | $ / shares			$ 1.64

Warrants (Details Narrative)

Warrants (Details Narrative)	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Issuance of warrants to purchase of common stock shares | shares	8,413,017
Weighted average exercise price	$ 1.78
Warrant expiration date	Nov. 30, 2023
Minimum [Member]
Warrants exercise prices ranging	$ 1.30
Maximum [Member]
Warrants exercise prices ranging	$ 93

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative) - USD ($)	Mar. 23, 2018	Sep. 15, 2017	Jun. 02, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Expected dividend yield				0.00%	0.00%	0.00%	0.00%
Risk-free interest rate						0.00%
Reverse split stock	1-for-10 reverse stock split						1-for-10 reverse stock
Stock based compensation expense				$ 123,000	$ 178,000	$ 269,194	$ 390,682
Unrecognized compensation cost related to un-vested stock based compensation				$ 423,000		$ 423,000
Weighted average period of compensation cost expected to be recognized						9 months 18 days
Number of stock options exercised
2015 Equity Incentive Plan [Member]
Aggregate number of common stock shares authorized for issuance				2,750,000		2,750,000
Number of common stock available for issuance				186,124		186,124
2015 Equity Incentive Plan [Member] | Employee Stock Option [Member]
Additional number of shares of common stock authorized to issue		2,585,871	83,800
2015 Stock Plan [Member] | Employee Stock Option [Member]
Stock option description						The exercise price for an option issued under the 2015 Plan is determined by the Board of Directors, but will be (i) in the case of an incentive stock option (A) granted to an employee who, at the time of grant of such option, is a 10% stockholder, no less than 110% of the fair market value per share on the date of grant; or (B) granted to any other employee, no less than 100% of the fair market value per share on the date of grant; and (ii) in the case of a non-statutory stock option, no less than 100% of the fair market value per share on the date of grant. The options awarded under the Plans will vest as determined by the Board of Directors but will not exceed a ten-year period.
Vesting period of options						10 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares
Share-based Payment Arrangement [Abstract]
Number of Shares, Options Outstanding, Beginning | shares	673,885
Number of Shares, Options Granted | shares	668,750
Number of Shares, Options Exercised/ Expired/ Forfeited | shares	(1,500)
Number of Shares, Options Outstanding at Ending | shares	1,341,135
Number of Shares, Options Exercisable | shares	443,350
Weighted Average Exercise Price, Outstanding, Beginning	$ 19.82
Weighted Average Exercise Price, Options Granted	0.60
Weighted Average Exercise Price, Options Exercised/ Expired/ Forfeited	3.40
Weighted Average Exercise Price, Outstanding at Ending	10.25
Weighted Average Exercise Price, Options Exercisable	$ 33.90
Aggregate Intrinsic Value, Outstanding, Beginning | $
Aggregate Intrinsic Value, Options Granted	$ 314,000
Aggregate Intrinsic Value, Options Exercised/ Expired/ Forfeited
Aggregate Intrinsic Value, Outstanding at Ending | $	$ 314,000
Aggregate Intrinsic Value, Options Exercisable | $	$ 37,000
Weighted- Average Remaining Contractual Life (in Years), Outstanding, Beginning	8 years 2 months 12 days
Weighted- Average Remaining Contractual Life (in Years), Options Granted	9 years 7 months 6 days
Weighted- Average Remaining Contractual Life (in Years), Outstanding at Ending	8 years 7 months 6 days
Weighted- Average Remaining Contractual Life (in Years), Options Exercisable	7 years 3 months 19 days

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Assumptions Used in Black-Scholes Option-Pricing Method (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Expected stock-price volatility, minimum	46.33%	46.47%	46.33%	46.47%
Expected stock-price volatility, maximum	48.17%	50.34%	48.17%	53.11%
Risk-free interest rate, minimum	2.51%	2.75%	2.51%	2.46%
Risk-free interest rate, maximum	2.60%	3.02%	2.60%	3.02%
Expected average term of options	6 years	6 years	6 years	6 years
Stock price	$ 0.60		$ 0.60
Minimum [Member]
Stock price		$ 2.73		$ 2.73
Maximum [Member]
Stock price		$ 3.32		$ 3.40

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Nonvested Restricted Stock Units (Details)	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Share-based Payment Arrangement [Abstract]
Number of Units Unvested, Beginning balance | shares	1,100,000
Number of Units Granted | shares	35,000
Number of Units Forfeited | shares
Number of Units Vested | shares	(23,334)
Number of Units Unvested, Ending balance | shares	1,111,666
Weighted Average Grant Date Fair Value Unnvested, Beginning balance | $ / shares	$ 2.73
Weighted Average Grant Date Fair Value Granted | $ / shares	0.63
Weighted Average Grant Date Fair Value Forfeited | $ / shares
Weighted Average Grant Date Fair Value Vested | $ / shares	0.63
Weighted Average Grant Date Fair Value Unvested, Ending balance | $ / shares	$ 2.71