PDS Biotechnology (PDSB) 10-K 27 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Mar. 09, 2020	Jun. 30, 2019
Cover [Abstract]
Entity Registrant Name	PDS Biotechnology Corp
Entity Central Index Key	0001472091
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Public Float			$ 18.1
Entity Common Stock, Shares Outstanding		15,285,205
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Address, State or Province	NJ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 12,161,739	$ 103,695
Prepaid expenses and other	2,308,462	18,428
Total current assets	14,470,201	122,123
Property and equipment, net	21,051	29,508
Other assets	0	12,800
Total assets	14,491,252	164,431
Current liabilities:
Accounts payable	1,197,720	1,307,529
Accrued expenses	1,097,640	601,889
Restructuring reserve	498,185	0
Total current liabilities	2,793,545	1,909,418
Noncurrent liability:
Warranty liability	0	291,225
Convertible promissory notes payable	0	30,000
Total liabilities	2,793,545	2,230,643
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, $0.00033 par value, 75,000,000 shares authorized at December 31, 2019 and December 31, 2018, 5,281,237 shares and 3,417,187 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively	1,742	1,128
Additional paid-in capital	40,633,670	19,871,759
Accumulated deficit	(28,937,705)	(21,939,099)
Total stockholders' equity (deficit)	11,697,707	(2,066,212)
Total liabilities and stockholders' equity (deficit)	$ 14,491,252	$ 164,431

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, par value (in dollars per share)	$ 0.00033	$ 0.00033
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	5,281,237	3,417,187
Common stock, shares outstanding (in shares)	5,281,237	3,417,187

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Operating expenses:
Research and development expenses	$ 6,099,580	$ 830,744
General and administrative expenses	10,981,765	2,788,016
Impairment expense IPRD	2,974,000	0
Lease termination costs	979,273	0
Depreciation and amortization	0	27,426
Total operating expenses	21,034,618	3,646,186
Loss from operations	(21,034,618)	(3,646,186)
Other income (expense):
Gain on bargain purchase upon merger	13,334,568	0
Interest income	353,490	0
Interest expense	(33,559)	(3,595)
Other	0	(900)
Loss on extinguishment of debt	0	(185,800)
Loss before income taxes	(7,380,119)	(3,836,481)
Income taxes (benefit)	(381,513)	0
Net loss	(6,998,606)	(3,836,481)
Comprehensive loss	$ (6,998,617)	$ (3,836,470)
Net loss per share, basic and diluted (in dollars per share)	$ 1.44	$ 1.15
Weighted average common shares outstanding basic and diluted (in shares)	4,868,079	3,337,351

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2017	$ 1,007	$ 17,492,083	$ (18,102,618)	$ (609,528)
Balance (in shares) at Dec. 31, 2017	3,051,538
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	251,947	0	251,947
Issuance of common stock, net of issuance costs	$ 112	1,552,683	0	1,552,795
Issuance of common stock, net of issuance costs (in shares)	338,595
Issuance of common stock from exercise of warrants	$ 3	99,959	0	99,962
Issuance of common stock from exercise of warrants (in shares)	7,673
Issuance of common stock for stock option exercise	$ 6	132,983	0	132,989
Issuance of common stock for stock option exercise (in shares)	19,381
Warrant costs associated with stock issuance	$ 0	342,104	0	342,104
Issuance of warrant in consideration for settlement agreement				0
Net loss	0	0	(3,836,481)	(3,836,481)
Balance at Dec. 31, 2018	$ 1,128	19,871,759	(21,939,099)	(2,066,212)
Balance (in shares) at Dec. 31, 2018	3,417,187
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	3,139,053	0	3,139,053
Issuance of common stock, net of issuance costs	$ 16	749,984	0	750,000
Issuance of common stock, net of issuance costs (in shares)	48,930
Issuance of warrant in consideration for settlement agreement	$ 0	372,925	0	372,925
Issuance of common stock for antidilution	$ 32	(32)	0	0
Issuance of common stock for antidilution (in shares)	97,960
Issuance of common stock for convertible debt	$ 3	65,903	0	65,906
Issuance of common stock for convertible debt (in shares)	9,683
Issuance of common stock from equity transaction	$ 33	603,891	0	603,924
Issuance of common stock from equity transaction (in shares)	100,654
Equity from merger transaction	$ 528	15,793,109	0	15,793,637
Equity from merger transaction (in shares)	1,599,178
Issuance of common stock from 401K match	$ 2	37,078	0	37,080
Issuance of common stock from 401K match (in shares)	7,645
Net loss	$ 0	0	(6,998,606)	(6,998,606)
Balance at Dec. 31, 2019	$ 1,742	$ 40,633,670	$ (28,937,705)	$ 11,697,707
Balance (in shares) at Dec. 31, 2019	5,281,237

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (6,998,606)	$ (3,836,481)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	3,139,053	866,845
Issuance of common stock from equity transaction	603,924	0
Stock-based 401K company common match	37,080	0
Depreciation and amortization expense	98,414	69,118
Impairment charge - IPR&D	2,974,000	0
Deferred income tax benefit	(381,513)	0
Loss on extinguishment of debt	0	185,800
Loss on disposal of fixed assets	310,951	0
Write off of remaining ROU asset and lease liability pursuant to a lease termination	(32,309)	0
Bargain purchase gain	(13,334,568)	0
Interest expense from beneficial conversion feature	32,953	0
Increase in warrant liability	81,700	0
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(1,138,548)	(35,027)
Accounts payable	(1,977,667)	788,830
Accrued expenses and other liabilities	83,753	321,284
Restructuring reserve	(1,572,086)	0
Net cash used in operating activities	(18,073,469)	(1,569,577)
Cash flows from investing activities:
Cash received in reverse merger transaction	29,106,513	0
Proceeds from sale of equipment	275,000	0
Net cash provided by investing activities	29,381,513	0
Cash flows from financing activities:
Proceeds from issuance of common stock	750,000	1,280,000
Proceeds from stock option exercise	0	132,989
Proceeds from warrant exercise	0	99,962
Repayments of capital lease obligation	0	(15,563)
Net cash provided by financing activities	750,000	1,497,388
Net increase (decrease) in cash and cash equivalents	12,058,044	(72,189)
Cash and cash equivalents at beginning of period	103,695	175,884
Cash and cash equivalents at end of period	12,161,739	103,695
Cash paid for:
Interest	0	1,362
Income taxes	0	500
Supplemental cash flow information:
Conversion of convertible notes and accrued interest into common stock	32,953	0
Consideration in connection with reverse merger transaction	15,793,638	0
Conversation of warranty liability into additional	$ 372,925	$ 0

Nature of Operations

Nature of Operations	12 Months Ended
	Dec. 31, 2019
Nature of Operations [Abstract]
Nature of Operations	Note 1 – Nature of Operations PDS Biotechnology Corporation, a Delaware corporation (the “Company,” “PDS” or the “combined company”), is a clinical stage immuno-oncology company with a growing pipeline of clinical-stage immunotherapies to treat cancer at various stages, including head and neck cancer, prostate cancer, breast cancer, cervical cancer, anal cancer, and other cancers. All of PDS’s products are based on the proprietary Versamune ® ® ® PDS has developed numerous patents and patent applications related to its Versamune ® Licensed patents Licensed Patent Families 1 and 2 cover the Versamune ® ® Reverse acquisition On March 15, 2019, the Company, then operating as Edge Therapeutics, Inc. (“Edge”), completed its reverse merger with privately held PDS Biotechnology Corporation (“Private PDS”), pursuant to and in accordance with the terms of the Agreement and Plan of Merger, dated as of November 23, 2018, as amended on January 24, 2019, by and among the Company, Echos Merger Sub, a wholly-owned subsidiary of the Company (“Merger Sub”), and Private PDS, whereby Private PDS merged with and into Merger Sub, with Private PDS surviving as the Company’s wholly-owned subsidiary (the “Merger”). For accounting purposes, the Merger is treated as a “reverse acquisition” under generally accepted accounting principles in the United States (“U.S. GAAP”) and Private PDS is considered the accounting acquirer. Accordingly, upon consummation of the Merger, the historical financial statements of Private PDS became the Company’s historical financial statements, and the historical financial statements of Private PDS are included in the comparative prior periods. See “Note 4 – Reverse Merger” for more information on the Merger. As part of the Merger, the Company acquired all of Edge’s assets relating to current and future research and development.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 – Summary of Significant Accounting Policies (A) Use of estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses at the date of the consolidated financial statements and during the reporting periods, and to disclose contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates. The most significant estimates relate to the recognition and measurement of assets acquired and liabilities assumed in the business acquisition, assessment of indicators of impairment of intangible assets and the fair value of securities underlying stock-based compensation and other equity awards. (B) Significant risks and uncertainties: The Company’s operations are subject to a number of factors that may affect its operating results and financial condition. Such factors include, but are not limited to: the clinical and regulatory development of its products, the Company’s ability to preserve its cash resources, the Company’s ability to add product candidates to its pipeline, the Company’s intellectual property, competition from products manufactured and sold or being developed by other companies, the price of, and demand for, Company products if approved for sale, the Company’s ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products, and the Company’s ability to raise capital. The Company currently has no commercially approved products. As such, there can be no assurance that the Company’s future research and development programs will be successfully commercialized. Developing and commercializing a product requires significant time and capital and is subject to regulatory review and approval as well as competition from other biotechnology and pharmaceutical companies. The Company operates in an environment of rapid change and is dependent upon the continued services of its employees and consultants and obtaining and protecting its intellectual property. (C) Business acquisition: The Company’s consolidated financial statements include the operations of an acquired business after the completion of the acquisition. We account for acquired businesses using the acquisition method of accounting, which requires, among other things, that most assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date and that the fair value of IPR&D be recorded on the balance sheet. Transaction costs are expensed as incurred. The Company measures certain assets and liabilities at fair value, either upon initial recognition or for subsequent accounting or reporting. For example, we use fair value in the initial recognition of net assets acquired in a business combination and when measuring impairment losses. We estimate fair value using an exit price approach, which requires, among other things, that we determine the price that would be received to sell an asset or paid to transfer a liability in an orderly market. The determination of an exit price is considered from the perspective of market participants, considering the highest and best use of non-financial assets and, for liabilities, assuming that the risk of non-performance will be the same before and after the transfer. When estimating fair value, depending on the nature and complexity of the asset or liability, we may use one or all of the following techniques: ● Income approach, which is based on the present value of a future stream of net cash flows. ● Market approach, which is based on market prices and other information from market transactions involving identical or comparable assets or liabilities. ● Cost approach, which is based on the cost to acquire or construct comparable assets, less an allowance for functional and/or economic obsolescence. Our fair value methodologies depend on the following types of inputs: ● Quoted prices for identical assets or liabilities in active markets (Level 1 inputs). ● Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are directly or indirectly observable, or inputs that are derived principally from, or corroborated by, observable market data by correlation or other means (Level 2 inputs). ● Unobservable inputs that reflect estimates and assumptions (Level 3 inputs). (D) Cash equivalents and concentration of cash balance: The Company considers all highly liquid securities with a maturity weighted average of less than three months to be cash equivalents. The Company’s cash and cash equivalents in bank deposit accounts, at times, may exceed federally insured limits. (E) Property and equipment: Property and equipment are recorded at cost. Depreciation is recorded for property and equipment using the straight-line method over the estimated useful lives of three to five years. The Company reviews the recoverability of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset might not be recoverable. (F) Research and development: Costs incurred in connection with research and development activities are expensed as incurred. These costs include licensing fees to use certain technology in the Company’s research and development projects as well as fees paid to consultants and entities that perform certain research and testing on behalf of the Company. (G) Patent costs: The Company expenses patent costs as incurred and classifies such costs as general and administrative expenses in the accompanying statements of operations and comprehensive loss. (H) Intangibles asset and impairment: As part of the reverse merger transaction on March 15, 2019, the Company acquired an in-process research and development (“IPR&D”) intangible asset valued at $2,974,000 using a discounted cash flow method. In determining the value of IPR&D, management considers, among other factors, the stage of completion of the project, the technological feasibility of the project, whether the project have an alternative future use, and the estimated residual cash flows that could be generated from the various projects and technologies over their respective projected economic lives. The discount rate used is determined at the time of acquisition and includes a rate of return which accounts for the time value of money, as well as risk factors reflecting the economic risk that the projected cash flows may not be realized. The Company reviews all of its long-lived assets for impairment indicators throughout the year. The Company performs impairment testing for indefinite-lived intangible assets annually and for all other long-lived assets whenever impairment indicators are present. When necessary, the Company records charges for impairments of long-lived assets for the amount by which the fair value is less than the carrying value of these assets. The Company’s impairment review process is described in Note 7. (I) Stock-based compensation: The Company accounts for its stock-based compensation in accordance with ASC Topic 718, Compensation—Stock Compensation (“ASC 718”). ASC 718 requires all stock-based payments to employees, directors and non-employees to be recognized as expense in the consolidated statements of operations and comprehensive loss based on their grant date fair values. The Company estimates the fair value of options granted using the Black-Scholes option pricing model for stock option grants to both employees and non-employees. Prior to 2019, the Company estimated the stock-based compensation for common stock awards based on the number of awards granted and the fair value of its common stock on the grant date. In 2019, the Company did not grant any common stock awards. The Company expenses the fair value of its stock-based compensation awards to employees and directors on a straight-line basis over the requisite service period, which is generally the vesting period. Prior to January 1, 2019, the Company estimated forfeitures at the time of grant and revised, if necessary in subsequent periods if actual forfeitures differ from those estimates. Beginning on January 1, 2019, the Company recognizes forfeitures as they occur. On January 1, 2019, the Company adopted Accounting Standards Update (“ASU”) No. ASU 2018-07, Improvements to Non-employee Share-Based Payment Accounting, which expands the scope of ASC 718, Compensation—Stock Compensation to include share-based payments issued to non-employees for goods or services. Consequently, the accounting for share-based payments to non-employees and employees will be substantially aligned. The adoption of ASU 2018-07 had no impact to the Company’s consolidated financial statements. (J) Net loss per common share: Basic net loss per common share is calculated by dividing the net loss by the weighted average number of common stock shares outstanding during the period. Diluted net loss per common share is the same as basic net loss per common share, because potentially dilutive securities would have an antidilutive effect as the Company incurred a net loss for the years ended December 31, 2019 and 2018. The potentially dilutive securities excluded from the determination of diluted loss per share as their effect is antidilutive, are as follows: Year Ended December 31, 2019 2018 Stock options to purchase Common Stock 1,421,797 1,658,883 Warrants to purchase Common Stock 258,825 475,694 Total 1,680,626 2,134,577 (K) Income taxes: The Company provides for deferred income taxes under the asset and liability method, which requires deferred tax assets and liabilities to be recognized for the future tax consequences attributable to net operating loss carryforwards and for differences between the financial statement carrying amounts and the respective tax bases of assets and liabilities. Deferred tax assets are reduced if necessary by a valuation allowance if it is more likely than not that some portion or all of the deferred tax assets will not be realized. (L) Fair value of financial instruments: FASB ASC 820, Fair Value Measurement Disclosures, specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: ● Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities. ● Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active). Level 2 includes financial instruments that are valued using models or other valuation methodologies. ● Level 3 — Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable. (M) Subsequent events: Subsequent events have been evaluated through the date these financial statements were issued. See Note 16. (N) New accounting standards not yet adopted: In August 2018, the FASB issued No. 2018-13, Fair Value Measurement (Topic 820) (“ASU 2018-13”). ASU 2018-13 modifies disclosure requirements related to fair value measurement and is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. Early adoption is permitted. ASU 2018-13 also allows for early adoption of any removed or modified disclosures upon issuance of ASU 2018-13 while delaying adoption of the additional disclosures until their effective date. The Company is currently evaluating the In August 2018, the FASB issued No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) (“ASU 2018-15”). ASU 2018-15 reduces complexity for the accounting for costs of implementing a cloud computing service arrangement and aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). ASU 2018-15 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the . (O) New accounting standards adopted: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. The Company adopted the new lease standard, as of January 1, 2019, using the optional transition method under which comparative financial information will not be restated and continue to apply the provisions of the previous lease standard in its annual disclosures for the comparative periods. In addition, the new lease standard provides a number of optional practical expedients in transition. The Company elected the package of practical expedients. As such, the Company did not have to reassess whether expired or existing contracts are or contain a lease; did not have to reassess the lease classifications or reassess the initial direct costs associated with expired or existing leases. Furthermore, the Company did not have any leases impacted by ASC 842 on the adoption date. As part of the purchase price allocation from the reverse merger, the Company recorded a Right of Use asset and Liability of $1.4 million. The new lease standard also provides practical expedients for an entity’s ongoing accounting. The Company elected the short-term lease recognition exemption under which the Company will not recognize right-of-use (“ROU”) assets or lease liabilities, and this includes not recognizing ROU assets or lease liabilities for existing short-term leases. The Company elected the practical expedient to not separate lease and non-lease components for certain classes of assets (office building). The Company determines if an arrangement is a lease at inception. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. Operating lease expense is recognized on a straight-line basis over the lease term, subject to any changes in the lease or expectations regarding the terms. Variable lease costs such as operating costs and property taxes are expensed as incurred. In June 2018, the FASB issued ASU 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Non-employee Share-Based Payment Accounting, which expands the scope of Topic 718, Compensation—Stock Compensation to include share-based payments issued to non-employees for goods or services. Consequently, the accounting for share-based payments to non-employees and employees will be substantially aligned. On January 1, 2019, the Company adopted ASU 2018-07 and there was no impact to its financial statements. (P) Immaterial Correction of an Error in Prior Periods : During the quarter ended December 31, 2019, the Company identified errors related to the presentation of certain historical equity accounting and the treatment of certain expenses in the pre-merger period for private PDS. In accordance with Accounting Standards Codification (“ASC”) 250, Accounting Changes and Error Corrections A. For the year ended December 31, 2018, the Company determined that it incorrectly recognized patent license fees as intangible assets. The net effect of this error resulted in a reduction in net intangible assets of $41,692 and increases in research and development expenses, net loss and accumulated deficit of $41,692. B. For the year ended December 31, 2018, the Company determined that it incorrectly recognized stock-based compensation expense for common stock awards that were granted to two Board Members in the fourth quarter of 2018. These awards were in lieu of payments for services performed by the Board Members through the grant date. The terms of the awards provided that they vested immediately. The Company amortized the stock-based compensation expense from October 2018 through March 15, 2019 instead of on the grant date. The net effect of these errors resulted in a reduction in prepaid expenses of $138,200 and increases to general and administrative expenses, net loss and accumulated deficit of $138,200. C. For the year ended December 31, 2018, the Company determined that it incorrectly capitalized transaction costs related to a business combination and a consulting agreement. The net effect of these errors resulted in increases in net loss, general and administrative expenses, additional paid- in capital and accumulated deficit of $560,234. D. For the year ended December 31, 2018, the Company determined that it incorrectly accounted for an extinguishment of a trade payable in accordance with ASC 470-50-40-2. Under ASC 470-50-40-2 the difference between the reacquisition price of the debt and the net carrying amount of the extinguished debt shall be recognized currently in income of the period of extinguishment as losses or gains and identified as a separate item. Gains and losses shall not be amortized to future periods. The reacquisition price includes the fair value of any assets transferred or equity securities issued. It also includes fees (which may include noncash fees) the reporting entity pays the original lender in connection with the extinguishment. The net effect of these errors resulted in an increase in warrant liability of $291,225; and increases in loss on extinguishment, net loss and accumulated deficit of $185,800 and a reduction in accounts payable of $105,425. The following table sets forth the effect this immaterial error correction had on the Company's consolidated balance sheet as of December 31, 2018: Previously Reported Year Ended December 31, 2018 Corrections Restated ASSETS Prepaid expenses and other receivables $ 156,628 $ (138,200 ) B 18,428 Total current assets 260,323 (138,200 ) 122,123 Intangible Assets, net 41,692 (41,692 ) A - Total assets $ 344,323 $ (179,892 ) $ 164,431 Liabilities and Stockholders' (Deficit) Current Liabilities: Accounts payable $ 1,412,954 $ (105,425 ) D $ 1,307,529 Total current liabilities 2,014,843 (105,425 ) 1,909,418 Warrant liability - 291,225 D 291,225 Total liabilities 2,044,843 185,800 2,230,643 Stockholders' (Deficit) Additional paid in capital 19,312,548 560,234 C 19,872,782 Accumulated deficit (21,013,173 ) (41,692 ) A (21,939,099 ) (138,200 ) B (560,234 ) C (185,800 ) D Total stockholders' (deficit) (1,700,520 ) (365,692 ) (2,066,212 ) Total liabilities and stockholders' (deficit) $ 344,323 $ (179,892 ) $ 164,431 The following table sets forth the effect this immaterial error correction had on the Company’s consolidated statement of operations and comprehensive loss for the year ended December 31, 2018: Previously Reported Year Ended December 31, 2018 Corrections Restated Operating expenses: Research and development $ 789,052 $ 41,692 A $ 830,744 General and administrative 2,089,582 138,200 B 2,788,016 560,234 C Total operating expenses 2,906,060 740,126 3,646,186 Loss from operations (2,906,060 ) (740,126 ) (3,646,186 ) Other income (expense): Loss on extinguishment of debt - (185,800 ) D (185,800 ) (4,495 ) (185,800 ) (190,295 ) Net (loss) $ (2,910,555 ) $ (925,926 ) $ (3,836,481 ) The following table sets forth the effect this immaterial error correction had on the Company's consolidated statement of cash flows for the year ended December 31, 2018: Previously Reported Year Ended December 31, 2018 Corrections Restated Cash flows from operating activities: Net loss $ (2,910,555 ) $ (41,692 ) A $ (3,836,481 ) (138,200 ) B (560,234 ) C (185,800 ) D Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 27,426 41,692 A 69,118 Loss on extinguishment of debt 291,225 D 185,800 (105,425 ) D Changes in operating assets and liabilities: Accounts payable 788,830 Prepaid expenses and other receivables (101,825 ) 138,200 B 36,375 Net cash used in operating activities (1,009,343 ) (560,234 ) (1,569,577 ) Cash flows from finacing activities: Issuance costs (560,234 ) 560,234 C - Net cash provided by financing activities 937,154 560,234 1,497,388 Net increase (decrease) in cash and cash equivalents (72,189 ) - (72,189 ) Cash and cash equivalents beginning of the year 175,884 - 175,884 Cash and cash equivalents end of the year $ 103,695 $ - $ 103,695

Liquidity and Capital Resources

Liquidity and Capital Resources	12 Months Ended
	Dec. 31, 2019
Liquidity and Capital Resources [Abstract]
Liquidity and Capital Resources	Note 3 – Liquidity and Capital Resources As of December 31, 2019, the Company had $12.2 million of cash and cash equivalents, primarily provided by $29.1 million of pre-existing cash on Edge’s balance sheets that the Company obtained as a result of the Merger. The Company’s primary uses of cash are to fund operating expenses, primarily research and development expenditures. Cash used to fund operating expenses is impacted by the timing of when the Company pays these expenses, as reflected in the change to the Company’s outstanding accounts payable and accrued expenses. On July 29, 2019, the Company entered into a common stock purchase agreement (the “Aspire Purchase Agreement”) pursuant to which, the Company has the right, in its sole discretion, to present Aspire Capital Fund, LLC (“Aspire Capital”) with a purchase notice, directing Aspire Capital (as principal) to purchase up to 100,000 shares of the Company’s common stock per business day, in an aggregate amount of up to $20.0 million of the Company’s common stock (the “Purchase Shares”) over the term of the Aspire Purchase Agreement at a per share price equal to the lesser of the lowest sale price of the Company’s common stock on the purchase date or the arithmetic average of the three lowest closing sale prices for the Company’s common stock during the ten consecutive trading days ending on the trading day immediately preceding the purchase date. The Company may sell an aggregate of 1,034,979 shares of its common stock (which represented 19.99% of the Company’s outstanding shares of common stock on the date of the Aspire Purchase Agreement) without stockholder approval. The Company may sell additional shares of its common stock above the 19.99% limit provided that (i) it obtains stockholder approval or (ii) stockholder approval has not been obtained at any time the 1,034,979 share limitation is reached and at all times thereafter the average price paid for all shares issued under the Aspire Purchase Agreement, is equal to or greater than $5.76, which was the consolidated closing bid price of the Company’s common stock on July 26, 2019. The minimum price at which the Company sell shares under the Aspire Purchase Agreement is $0.50. On July 29, 2019, the Company issued 100,654 shares of common stock to Aspire Capital as consideration for entering into the Aspire Purchase Agreement . under The Company evaluated whether there are any conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year beyond the filing of this Annual Report on Form 10-K. The Company’s budgeted cash requirements in 2020 and beyond include expenses related to continuing development and clinical studies. Based on the Company’s available cash resources and cash flow projections as of the date the consolidated financial statements were available for issuance, which includes additional proceeds of $11.9 million from our February 2020 offering, the Company believes there are sufficient funds to continue operations and research and development programs for at least 12 months from the date of this report. Until the Company can generate significant cash from its operations, the Company expects to continue to fund its operations with its available financial resources. These financial resources may not be adequate to sustain its operations. The Company plans to continue to fund its operations and capital funding needs through equity and/or debt financings. However, the Company cannot be certain that additional financing will be available when needed or that, if available, financing will be obtained on terms favorable to the Company or its existing stockholders. Failure to obtain adequate financing also may adversely affect the Company’s ability to operate as a going concern.

Reverse Merger

Reverse Merger	12 Months Ended
	Dec. 31, 2019
Reverse Merger [Abstract]
Reverse Merger	Note 4 – Reverse Merger On March 15, 2019, the Company (then operating as Edge), Merger Sub and Private PDS completed the Merger in accordance with the Plan of Merger and Reorganization, dated as of November 23, 2018, as amended on January 24, 2019, pursuant to and in accordance with which Merger Sub merged with and into Private PDS, with Private PDS surviving as the Company’s wholly-owned subsidiary. Immediately following completion of the Merger, the Company effected the Reverse Stock Split at a ratio of one new share for every twenty shares of its common stock then-outstanding, and changed its corporate name from Edge Therapeutics, Inc. to PDS Biotechnology Corporation, and Private PDS, now the Company’s wholly-owned subsidiary, changed its name to PDS Operating Corporation. The Merger is intended to qualify for federal income tax purposes as a tax-free reorganization under the provisions of Section 368(a) of the Internal Revenue Code of 1986, as amended. In connection with the Merger, each share of Private PDS’s common stock outstanding immediately prior to the Merger was converted into 0.3262 shares (on a post-Reverse Stock Split basis) of the Company’s common stock. As a result, the Company issued 3,573,760 shares of its common stock to the stockholders of Private PDS in exchange for all of the outstanding shares of common stock of Private PDS. For accounting purposes, Private PDS is considered to be the accounting acquirer in the Merger because Private PDS’s stockholders owned approximately 70% of the combined company’s common stock immediately following the closing of the Merger. As the accounting acquirer, Private PDS’s assets and liabilities continue to be recorded at their historical carrying amounts and the historical operations that will be reflected in the Company’s consolidated financial statements will be those of Private PDS. All references in the consolidated financial statements to the number of shares and per share amounts of the Company’s common stock have been retroactively restated to reflect completion of the Merger and the Reverse Stock Split. Purchase Price Pursuant to the Plan of Merger and Reorganization Agreement, as amended, Edge issued to Private PDS’s stockholders a number of shares of Edge’s common stock representing approximately 70% of the outstanding shares of common stock of the combined company. The purchase price, which represents the consideration transferred to Edge’s stockholders in the Merger is calculated based on the number of shares of common stock of the combined company that Edge’s stockholders owned as of the closing of the Merger on March 15, 2019, which consists of the following: Number of shares of the combined company to be owned by Edge security holders (1) 1,600,166 Multiplied by the price per share of Edge’s common stock as of March 15, 2019 $ 9.87 Purchase price (in thousands) $ 15,794 (1) The amount includes 1,576,916 shares of Edge’s common stock outstanding as of March 15, 2019 plus 23,250 stock options of Edge that were in the money and vested immediately upon closing of the Merger. At closing, 753 of in-the-money options and 235 fractional shares paid out in cash to shareholders were not issued as common stock, resulting in 1,599,178 common shares issued. Final Purchase Price Allocation The Company completed its analysis of the allocation of the purchase price. The purchase price was allocated to the net assets acquired of Edge based upon their preliminary estimated fair values as of March 15, 2019. The in-process research and development asset (“IPR&D”) that is recognized relates to Edge’s NEWTON 2 clinical trial for EG-1962 that has not reached technological feasibility. The Company was actively looking to license out EG-1962 and had preliminary discussions with third parties who were actively looking at the data of EG-1962 during the year. Accordingly, the IPR&D was capitalized as an indefinite-lived intangible asset and tested for impairment at least annually until it is determined that there is no future economic benefit from EG-1962. As a result of capitalizing the IPR&D, the Company recognized an indefinite life deferred tax liability. During the three months ended June 30, 2019, two adjustments were made to the preliminary allocation. The first was for $275,000 relating to an offer to purchase equipment that was given a value of $0 in the preliminary allocation. The second was for $65,551 relating to Edge’s bonus plan that was effective prior to the date of acquisition. During the three months ended December 31, 2019 two additional adjustments were made to the preliminary valuation. The first was for an increase of $1,751,000 relating to the IPR&D in which the Company finalized the valuation of the IPR&D and as a result recognized an additional deferred tax liability of $224,513. The second was for a write-off relating to a transition service arrangement that was effective prior to the date of the acquisition for $131,250. In accordance with ASC 805, Business Combinations any the excess of the fair value of the acquired net assets over the purchase price has been recognized as a bargain purchase gain in the consolidated statement of operations and comprehensive loss. The Company has reassessed whether all the assets acquired, and the liabilities assumed have been identified and recognized in the purchase price allocation. The final allocation of the purchase price to the net assets of Edge, based on the fair values as of March 15, 2019, is as follows: Cash and cash equivalents $ 29,106,513 Prepaid expense and other assets 1,585,482 Right to use asset 1,384,810 Intangible assets-IPR&D 2,974,000 Total identifiable assets acquired 35,050,805 Accounts payable, accrued expenses, other liabilities (4,595,934 ) Long term lease liability (945,152 ) Deferred income tax benefit (381,513 ) Total liabilities assumed (5,922,599 ) Net identifiable assets acquired 29,128,206 Bargain purchase gain (13,334,568 ) Purchase price $ 15,793,638 The fair value of the IPR&D was determined using the discounted cash flow method based on probability- adjusted cash flow success scenarios to develop EG-1962 into a commercial product, estimating the revenue and costs. The rates utilized to discount the net cash flows to the present value are commensurate with the stage of development of the projects and uncertainties in the economic estimates used in the projections. Pro Forma Financial Information The following pro forma consolidated results of net loss for the years ended December 31, 2019 and 2018 assume the Merger was completed as of January 1, 2018: Year Ended December 31, 2019 2018 Pro forma operating expenses $ (31,152,190 $ 46,742,753 Pro forma net loss (31,134,293 ) (44,704,487 ) Pro forma basic and diluted net loss per share $ (6.40 ) $ (9.12 ) The December 31, 2019 pro forma net loss excludes the bargain purchase gain that resulted from the Merger.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2019
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	Note 5 – Fair Value of Financial Instruments There were no transfers between Levels 1, 2, or 3 during the years ended December 31, 2019 or 2018. Fair Value Measurements at Reporting Date Using Total Quoted Prices in Active Markets (Level 1) Quoted Prices in Inactive Markets (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2019: Cash and cash equivalents $ 12,161,739 $ 12,161,739 $ – $ – As of December 31, 2018: Cash and cash equivalents $ 103,695 $ 103,695 $ – $ – Warrant liability (See Note 12) $ 291,225 $ – $ – $ 291,225

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2019
Property and Equipment [Abstract]
Property and Equipment	Note 6 – Property and Equipment Property and equipment is summarized as follows: December 31, 2019 2018 Furniture and equipment $ 14,964 $ 1,343 Computer and Telephone equipment 13,545 13,545 Lab equipment 86,911 86,911 Total furniture and equipment 115,420 101,799 Less accumulated depreciation (94,369 ) (72,291 ) Property and equipment, net $ 21,051 $ 29,508 Depreciation expense for the years ended December 31, 2019 and 2018 was $98,414 and $23,313, respectively.

Impairment Charge

Impairment Charge	12 Months Ended
	Dec. 31, 2019
Impairment Charge [Abstract]
Impairment Charge	Note 7 – Impairment Charge During the three months ended December 31, 2019, the Company determined that the intangible asset related to Edge’s NEWTON 2 clinical trial for EG-1962 was impaired due to significantly reduced activity in the data room and a lack of new interest from third parties to purchase or license the product. Further the Company does not have the internal resources to pursue EG 1962 as an internal development project and has stated publicly that it had intended to find a partner to fund and run the EG 1962 program. The drop off in interest from third parties and the lack of any new inbound interest has made this an extremely low probability of success. As a result for the year ended December 31, 2019, the Company recorded an impairment charge - IPR&D of $2,974,000 for the estimated value of the IPR&D asset of $2,974,000 in its consolidated statement of operations and comprehensive loss.

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	Note 8 – Leases The Company adopted Accounting Standards Codification (ASC) Topic 842 on the date of the Merger and recognized an operating right-of-use (ROU) asset of $1.4 million and operating lease liabilities of $1.4 million at upon acquiring the lease in the reverse merger. The Company leases office space in Berkeley Heights, New Jersey that was expected to expire on November 15, 2021 under an operating lease. In addition to the monthly base amount in the lease agreement, the Company is required to pay its proportionate share of real estate taxes and operating expenses during the lease term which are expensed as incurred. The discount rate implicit within the lease is not determinable, therefore on the date of the Merger For the year ended December 31, 2019 the Company’s operating lease expense was $ 247,368. On July 8, 2019, the Company entered into a lease termination agreement for its office space located at 300 Connell Drive, Suite 4000, Berkeley Heights, NJ 07922 effective August 31, 2019 (the “Lease Termination Agreement”). Pursuant to the Lease Termination Agreement, the Company is required to pay 50% of the remaining lease payments of $665,802 over three installments on September 1, 2019, December 1, 2019 and March 1, 2020. The Company has not entered into a new lease arrangement through the date of this filing. On August 31, 2019, the right-of-use asset of $1.2 million and operating lease liability of $1.2 million was written off. In addition, a loss on lease termination of $0.6 million was recorded in office move expenses. Leasehold improvements amounting to approximately $0.3 million were also written off and are included in lease termination costs.

Accrued Expenses and Restructur

Accrued Expenses and Restructuring Reserve	12 Months Ended
	Dec. 31, 2019
Accrued Expenses and Restructuring Reserve [Abstract]
Accrued Expenses and Restructuring Reserve	Note 9 – Accrued Expenses and Restructuring Reserve Accrued expenses and other liabilities consist of the following: December 31, 2019 2018 Accrued research and development costs $ 16,415 $ 315,529 Accrued professional fees 256,061 177,417 Accrued compensation 603,229 45,833 Accrued rent 221,934 8,000 Accrued other - 55,110 Total $ 1,097,639 $ 601,889 Restructuring Reserve Restructuring reserve relates to the severance costs incurred by Edge Therapeutics in 2019 prior to the merger transaction and assumed by the Company as part of the purchase accounting, but not yet paid. The severance costs continue through September 2020. The Company recorded a restructuring reserve of $2,070,271. For the year ended December 31, 2019, the Company paid $1,572,086 of restructuring expenses. As of December 31, 2019, the remaining restructuring reserve balance was $498,185.

Convertible Promissory Note

Convertible Promissory Note	12 Months Ended
	Dec. 31, 2019
Convertible Promissory Note [Abstract]
Convertible Promissory Note	Note 10 – Convertible Promissory Note In November 2017, the Company received $30,000 from an investor in exchange for a convertible promissory note bearing interest at 7.50% per annum. The original terms of the promissory note was amended in December 2018 and states that in the event the Company consummates a sale of the Company prior to the conversion or repayment in full of this Note, the outstanding principal amount and all accrued but unpaid interest due shall automatically convert into the numbers of shares of the Company’s common stock equal to (a) the principal amount plus all accrued but unpaid interest thereon, divided by the lesser of (a) $1.11 and (b) the parent closing price multiplied by the exchange ratio (each, as defined in the merger agreement of $3.22). This event occurred on March 15, 2019, the date of the Merger, and as a result, the outstanding principal amount of $30,000 and accrued unpaid interest of $2,950 was converted into 9,683 shares of the Company’s common stock. At the date of the Merger the effective conversion price was less than the parent’s closing stock price of $3.22. As a result, for the year ended December 31, 2019, the Company recorded a beneficial conversion charge of $32,953 which was recorded to interest expense in the consolidated statement of operations and comprehensive loss and an increase to additional paid in capital for the same amount in its consolidated statement of changes in stockholder’s equity (deficit)..

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2019
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 11 – Stock-Based Compensation The Company has five equity compensation plans: the 2009 Amended Stock Plan, the 2010 Equity Incentive Plan, the 2012 Equity Incentive Plan, 2014 Equity Incentive Plan and the 2018 Stock Incentive Plan (the “Plans”). Originally, the Company was able to grant up to 27,410 and 54,820 shares of Common Stock as both incentive stock options (“ISOs”) and nonqualified stock options (“NQs”) under the 2010 Equity Incentive Plan and the 2012 Equity Incentive Plan, respectively. In 2013, the Company’s stockholders approved an increase to 63,957 shares authorized for issuance under the 2010 Equity Incentive Plan. In 2014, the Board of Directors of the Company (the “Board”) approved an increase to 67,520 shares authorized for issuance under the 2010 Equity Incentive Plan. In 2014, the Company’s stockholders approved the 2014 Equity Incentive Plan pursuant to which the Company may grant up to 91,367 shares as ISOs, NQs and restricted stock units (“RSUs”), subject to increases as hereafter described (the “Plan Limit”). In addition, on January 1, 2015 and each January 1 thereafter and prior to the termination of the 2014 Equity Incentive Plan, pursuant to the terms of the 2014 Equity Incentive Plan, the Plan Limit was and shall be increased by the lesser of (x) 4% of the number of shares of Common Stock outstanding as of the immediately preceding December 31 and (y) such lesser number as the Board of Directors may determine in its discretion. On January 1, 2016, 2017, 2018 and 2019 the Plan Limit was increased to 152,366 shares, 210,203 shares, 271,941 shares and 323,529 shares, respectively. In March 2019, the Plan was amended and restated which removed the annual increase component and was limited to 826,292 shares. In 2018, the Company’s stockholders approved the 2018 Stock Incentive Plan pursuant to which the Company may grant up to 558,071 shares as Stock Options, (ii) Stock Appreciation Rights, (iii) Restricted Stock, (iv) Preferred Stock, (v) Stock Reload Options and/or (vi) Other Stock-Based Awards. Pursuant to the terms of the Plans, ISOs have a term of ten years from the date of grant or such shorter term as may be provided in the option agreement. Unless specified otherwise in an individual option agreement, ISOs generally vest over a four year term and NQs generally vest over a one to five year terms. Unless terminated by the Board, the Plans shall continue to remain effective for a term of ten years or until such time as no further awards may be granted and all awards granted under the Plans are no longer outstanding. As of December 31, 2019, there were 190,799 shares available for grant under the 2018 Stock Incentive Plan. On June 17, 2019, the Board adopted the 2019 Inducement Plan. The 2019 Inducement Plan provides for the grant of non-qualified stock options. The 2019 Inducement Plan was recommended for approval by the Compensation Committee of the Board and subsequently approved and adopted by the Board without stockholder approval pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. The Board has reserved 200,000 shares of the Company’s common stock for issuance pursuant to non-qualified stock options granted under the 2019 Inducement Plan, and the 2019 Inducement Plan will be administered by the Compensation Committee of the Board. In accordance with Rule 5635(c)(4) of the Nasdaq Listing Rules, non-qualified stock options under the 2019 Inducement Plan may only be made to an employee who has not previously been an employee or member of the Board (or any parent or subsidiary of the Company), or following a bona fide period of non-employment by the Company (or a parent or subsidiary of the Company), if he or she is granted such non-qualified stock options in connection with his or her commencement of employment with the Company or a subsidiary and such grant is an inducement material to his or her entering into employment with the Company or such subsidiary. As of December 31, 2019, there were 126,500 shares available for grant under the 2019 Inducement Plan. The following table summarizes the components of stock-based compensation expense in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2019 and 2018: Year Ended December 31, 2019 2018 Research and development $ 550,605 $ 46,383 General and administrative 2,588,448 205,564 Total $ 3,139,053 $ 251,947 The following table summarizes the stock option activity for the Company’ stock option plans for the year ended December 31, 2019: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life in Years Aggregate Intrinsic Value Balance at January 1, 2019 541,117 $ 7.20 4.29 $ – Assumed in connection with merger 347,697 $ 121.52 5.67 $ – Granted 828,637 $ 7.43 9.35 $ – Exercised – $ – – $ – Forfeited (295,654 ) $ 99.27 – $ – Options outstanding at December 31, 2019 1,421,797 $ 15.95 7.09 $ – Vested and expected to vest at December 31, 2019 1,421,797 $ 15.95 7.09 $ – Exercisable at December 31, 2019 1,000,367 $ 20.15 6.03 $ – As of December 31, 2019 there was approximately $1,681,000 of unamortized stock compensation expense, which is expected to be recognized over a remaining average vesting period of 3.38 years. The weighted-average grant date fair value of the stock options granted in 2019 was $ 5.67 per share. The fair value of options granted during the year ended December 31, 2019 was estimated using the Black-Scholes option valuation model utilizing the following assumptions: Year Ended December 31, 2019 Weighted Average Volatility 85% - 94% Risk-Free Interest Rate 1.49% - 2.43% Expected Term in Years 5.54 years Dividend Rate – Expected volatility Risk-free interest rate Expected term. Expected dividend rate

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity (Deficit) [Abstract]
Stockholders' Equity (Deficit)	Note 12 - Stockholders' Equity (Deficit) Preferred Stock The Company currently has 5,000,000 shares of preferred stock authorized. Voting Shares of preferred stock may be issued in one or more series, from time to time, with each such series to consist of such number of shares and to have such voting powers relative to other classes or series of preferred stock, if any, or common stock, full or limited or no voting powers, and such designations, preferences and relative, participating, optional or other special rights, and such qualifications, limitations or restrictions thereof, as shall be stated in the resolution or resolutions providing for the issuance of such series adopted by the Company’s Board of Directors. Common Stock The Company currently has 75,000,000 shares of common authorized. Voting Each holder of a share of common stock is entitled to one vote for each share of common stock. Dividends Dividends may be declared and paid as and when determined by the Board of Directors and subject to any preferential dividend rights of any then outstanding preferred stock. Preemptive Rights. The holders of common stock shall have no preemptive rights to subscribe for any shares of any class of stock of the Company whether now or hereafter authorized. Liquidation Rights Upon the dissolution or liquidation of the Company, whether voluntary or involuntary, holders of the common stock will be entitled to receive all assets of the Company available for distribution to its stockholders, subject to any preferential rights of any then outstanding preferred stock. 2019 Issuance of Common Stock In January 2019, Private PDS’s Board of Directors approved an amendment to the terms of the 2018 financing. The amendment increased the warrant coverage (which is the amount of warrants each investor is entitled to based on how much they paid for the common stock) from 20% to 45% in connection with the 2018 bridge financing term sheet. As a result of the amendment, in 2019 investors who purchased shares of common stock in 2018 received an additional $32,500 in warrant coverage. In February 2019, Private PDS issued 48,930 shares of common stock resulting in proceeds of $750,000 and the investors collectively received a warrant coverage of $337,500. The exercise price of the warrants to purchase shares of Private PDS’s common stock is $9.87, which is the stock price as of the date of the Merger. Accordingly, during the year ended December 31, 2019, Private PDS issued 37,487 warrants to purchase shares of Private PDS’s common stock. These warrants were determined to be equity instruments under ASC 480, Distinguishing Liabilities from Equity and ASC 815-40, Derivatives and Hedging. Warrant Liability Classified to Additional Paid in Capital On March 13, 2019, in connection with the settlement agreement entered into with one of its vendors, Private PDS granted a warrant to purchase 45,288 shares of its common stock at an exercise price of $9.87 which is the stock price as of the date of the Merger. At March 13, 2019, the estimated fair value of the warrant was $372,925. As a result, at March 13, 2019, Private PDS marked the warrant liability to the estimated fair value by $81,700 from $291,225 at December 31, 2018 to $372,925 and recorded an increase to general and administrative expenses in its statement of operations in 2019 for the $81,700. Since Private PDS issued a fixed number of warrants and a fixed exercise price to the vendor the warrant liability of $372,925 was classified to additional paid in capital. At March 13, 2019, Private PDS estimated the fair value of the warrant using the Black-Scholes option pricing model utilizing the following assumptions. Private PDS determined the expected stock price volatility based on volatilities of a peer group of similar companies in the biotechnology industry whose share prices are publicly available. The expected term of the warrant was based on the contractual term. The risk-free interest rate was based on the U.S. Treasury yield curve at the time of the grant over the term of the warrant grant. The expected dividend rate is based on the fact that the Company has never paid cash dividends and has no present intention to pay cash dividends. Volatility 83 % Risk-Free Interest Rate 2.63 % Expected Term in Years 10 Dividend Rate 0.00 % Fair Value of Warrant $ 8.23

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Taxes [Abstract]
Income Taxes	Note 13 – Income Taxes A reconciliation of the statutory U.S. federal income tax rate to the Company’s effective tax rate is as follows: Year Ended December 31, 2019 2018 Federal statutory rate 21.0 % 21.0 % State taxes 21.1 % 5.4 % Extraordinary Gain 38.0 % – Permanent differences (4.1 )% (1.8 )% Research and development 4.1 % 0.2 % Valuation allowance (74.6 )% (24.8 )% Other (0.3 )% – Effective tax rate 5.2 % – The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets were as follows: December 31, 2019 2018 Federal net operating losses $ 16,620,765 $ 5,147,280 State net operating losses 4,653,462 – Stock options 2,153,487 – Warrants 143,841 – Federal tax credit 740,040 – State tax credits 657,376 – Amortization 47,811 2,238 Accrued expense 363,617 – Depreciation 719,263 438 In-process R&D – 98,427 Other 18,098 – Total gross deferred tax assets 26,117,760 5,248,383 Less valuation allowance (26,117,760 ) (5,248,383 ) Net deferred tax assets $ – $ – In assessing the realizability of the net deferred tax assets, the Company considers all relevant positive and negative evidence to determine whether it is more likely than not that some portion of the deferred income tax assets will not be realized. The realization of the gross deferred tax assets is dependent on several factors, including the generation of sufficient taxable income prior to the expiration of the net operating loss carryforwards. At December 31, 2019 and 2018, the Company has recorded a full valuation allowance against its net deferred tax assets of approximately $26.1 and $5.2 million respectively. The change in the valuation allowance during the year ended 2019 was approximately $20.8 million. At December 31, 2019, the Company had federal net operating loss (“NOL”) carryforwards of approximately $79.1 million. At December 31, 2019, the Company had federal research and development credit carryforwards of approximately $0.7 million. At December 31, 2019, the Company had approximately $65.4 million of State of New Jersey NOLs which expire between 2029 and 2039. At December 31, 2019, the Company had approximately $0.8 million of the State of New Jersey research development credits carryforwards. The State of New Jersey has enacted legislation permitting certain corporations located in New Jersey to sell state tax loss carryforwards and state research and development credits, or net loss carryforwards. The Technology Business Tax Certificate Transfer Program enables qualified, unprofitable NJ-based technology or biotechnology companies with fewer than 225 US employees (including parent company and all subsidiaries) to sell a percentage of New Jersey NOLs and research and development (“R&D”) tax credits to unrelated profitable corporations. In 2019, the Company did not qualify for the program. There is no certainty as to whether this program will continue. Entities are also required to evaluate, measure, recognize and disclose any uncertain income tax provisions taken on their income tax returns. The Company has analyzed its tax positions and has concluded that as of December 31, 2019, there were no uncertain positions. The Company’s U.S. federal and state net operating losses have occurred since its inception in 2009 and as such, tax years subject to potential tax examination could apply from that date because the utilization of net operating losses from prior years opens the relevant year to audit by the IRS and/or state taxing authorities. Interest and penalties, if any, as they relate to income taxes assessed, are included in the income tax provision. The Company did not have any unrecognized tax benefits and has not accrued any interest or penalties for the years ended December 31, 2019 and 2018.

Retirement Plan

Retirement Plan	12 Months Ended
	Dec. 31, 2019
Retirement Plan [Abstract]
Retirement Plan	Note 15 – Retirement Plan The Company has a 401(k) defined contribution plan for the benefit for all employees and permits voluntary contributions by employees subject to IRS-imposed limitations. The 401K employer contribution for the years ended December 31, 2019 and 2018 plan years were $37,080 and $0 respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent events	Note 16 – Subsequent Events In February 2020, the Company completed an underwritten public offering, in which the Company sold 10,000,000 shares of common stock at a public offering price of $1.30 per share. The shares sold included 769,230 shares issued upon the exercise by the underwriter of its option to purchase additional shares at the public offering price. The Company received gross proceeds of approximately $13 million and net proceeds of approximately $11.9 million after deducting underwriting discounts and commissions. On March 10, 2020, we entered into a sublease agreement, effective as of March 5, 2020, to occupy the office space located at 25B Vreeland Road, Suite 300, Florham Park, NJ. The sublease commences on May 1, 2020 and continues for a term of approximately forty (40) months with an option to renew through October 31, 2027.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Summary of Significant Accounting Policies [Abstract]
Use of Estimates	(A) Use of estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses at the date of the consolidated financial statements and during the reporting periods, and to disclose contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates. The most significant estimates relate to the recognition and measurement of assets acquired and liabilities assumed in the business acquisition, assessment of indicators of impairment of intangible assets and the fair value of securities underlying stock-based compensation and other equity awards.
Significant Risks and Uncertainties	(B) Significant risks and uncertainties: The Company’s operations are subject to a number of factors that may affect its operating results and financial condition. Such factors include, but are not limited to: the clinical and regulatory development of its products, the Company’s ability to preserve its cash resources, the Company’s ability to add product candidates to its pipeline, the Company’s intellectual property, competition from products manufactured and sold or being developed by other companies, the price of, and demand for, Company products if approved for sale, the Company’s ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products, and the Company’s ability to raise capital. The Company currently has no commercially approved products. As such, there can be no assurance that the Company’s future research and development programs will be successfully commercialized. Developing and commercializing a product requires significant time and capital and is subject to regulatory review and approval as well as competition from other biotechnology and pharmaceutical companies. The Company operates in an environment of rapid change and is dependent upon the continued services of its employees and consultants and obtaining and protecting its intellectual property.
Business Acquisition	(C) Business acquisition: The Company’s consolidated financial statements include the operations of an acquired business after the completion of the acquisition. We account for acquired businesses using the acquisition method of accounting, which requires, among other things, that most assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date and that the fair value of IPR&D be recorded on the balance sheet. Transaction costs are expensed as incurred. The Company measures certain assets and liabilities at fair value, either upon initial recognition or for subsequent accounting or reporting. For example, we use fair value in the initial recognition of net assets acquired in a business combination and when measuring impairment losses. We estimate fair value using an exit price approach, which requires, among other things, that we determine the price that would be received to sell an asset or paid to transfer a liability in an orderly market. The determination of an exit price is considered from the perspective of market participants, considering the highest and best use of non-financial assets and, for liabilities, assuming that the risk of non-performance will be the same before and after the transfer. When estimating fair value, depending on the nature and complexity of the asset or liability, we may use one or all of the following techniques: ● Income approach, which is based on the present value of a future stream of net cash flows. ● Market approach, which is based on market prices and other information from market transactions involving identical or comparable assets or liabilities. ● Cost approach, which is based on the cost to acquire or construct comparable assets, less an allowance for functional and/or economic obsolescence. Our fair value methodologies depend on the following types of inputs: ● Quoted prices for identical assets or liabilities in active markets (Level 1 inputs). ● Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are directly or indirectly observable, or inputs that are derived principally from, or corroborated by, observable market data by correlation or other means (Level 2 inputs). ● Unobservable inputs that reflect estimates and assumptions (Level 3 inputs).
Cash Equivalents and Concentration of Cash Balance	(D) Cash equivalents and concentration of cash balance: The Company considers all highly liquid securities with a maturity weighted average of less than three months to be cash equivalents. The Company’s cash and cash equivalents in bank deposit accounts, at times, may exceed federally insured limits.
Property and Equipment	(E) Property and equipment: Property and equipment are recorded at cost. Depreciation is recorded for property and equipment using the straight-line method over the estimated useful lives of three to five years. The Company reviews the recoverability of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset might not be recoverable.
Research and Development	(F) Research and development: Costs incurred in connection with research and development activities are expensed as incurred. These costs include licensing fees to use certain technology in the Company’s research and development projects as well as fees paid to consultants and entities that perform certain research and testing on behalf of the Company.
Patent Costs	(G) Patent costs: The Company expenses patent costs as incurred and classifies such costs as general and administrative expenses in the accompanying statements of operations and comprehensive loss.
Intangible Asset and Impairment	(H) Intangibles asset and impairment: As part of the reverse merger transaction on March 15, 2019, the Company acquired an in-process research and development (“IPR&D”) intangible asset valued at $2,974,000 using a discounted cash flow method. In determining the value of IPR&D, management considers, among other factors, the stage of completion of the project, the technological feasibility of the project, whether the project have an alternative future use, and the estimated residual cash flows that could be generated from the various projects and technologies over their respective projected economic lives. The discount rate used is determined at the time of acquisition and includes a rate of return which accounts for the time value of money, as well as risk factors reflecting the economic risk that the projected cash flows may not be realized. The Company reviews all of its long-lived assets for impairment indicators throughout the year. The Company performs impairment testing for indefinite-lived intangible assets annually and for all other long-lived assets whenever impairment indicators are present. When necessary, the Company records charges for impairments of long-lived assets for the amount by which the fair value is less than the carrying value of these assets. The Company’s impairment review process is described in Note 7.
Stock-based Compensation	(I) Stock-based compensation: The Company accounts for its stock-based compensation in accordance with ASC Topic 718, Compensation—Stock Compensation (“ASC 718”). ASC 718 requires all stock-based payments to employees, directors and non-employees to be recognized as expense in the consolidated statements of operations and comprehensive loss based on their grant date fair values. The Company estimates the fair value of options granted using the Black-Scholes option pricing model for stock option grants to both employees and non-employees. Prior to 2019, the Company estimated the stock-based compensation for common stock awards based on the number of awards granted and the fair value of its common stock on the grant date. In 2019, the Company did not grant any common stock awards. The Company expenses the fair value of its stock-based compensation awards to employees and directors on a straight-line basis over the requisite service period, which is generally the vesting period. Prior to January 1, 2019, the Company estimated forfeitures at the time of grant and revised, if necessary in subsequent periods if actual forfeitures differ from those estimates. Beginning on January 1, 2019, the Company recognizes forfeitures as they occur. On January 1, 2019, the Company adopted Accounting Standards Update (“ASU”) No. ASU 2018-07, Improvements to Non-employee Share-Based Payment Accounting, which expands the scope of ASC 718, Compensation—Stock Compensation to include share-based payments issued to non-employees for goods or services. Consequently, the accounting for share-based payments to non-employees and employees will be substantially aligned. The adoption of ASU 2018-07 had no impact to the Company’s consolidated financial statements.
Net Loss per Common Share	(J) Net loss per common share: Basic net loss per common share is calculated by dividing the net loss by the weighted average number of common stock shares outstanding during the period. Diluted net loss per common share is the same as basic net loss per common share, because potentially dilutive securities would have an antidilutive effect as the Company incurred a net loss for the years ended December 31, 2019 and 2018. The potentially dilutive securities excluded from the determination of diluted loss per share as their effect is antidilutive, are as follows: Year Ended December 31, 2019 2018 Stock options to purchase Common Stock 1,421,797 1,658,883 Warrants to purchase Common Stock 258,825 475,694 Total 1,680,626 2,134,577
Income Taxes	(K) Income taxes: The Company provides for deferred income taxes under the asset and liability method, which requires deferred tax assets and liabilities to be recognized for the future tax consequences attributable to net operating loss carryforwards and for differences between the financial statement carrying amounts and the respective tax bases of assets and liabilities. Deferred tax assets are reduced if necessary by a valuation allowance if it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Fair Value of Financial Instruments	(L) Fair value of financial instruments: FASB ASC 820, Fair Value Measurement Disclosures, specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: ● Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities. ● Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active). Level 2 includes financial instruments that are valued using models or other valuation methodologies. ● Level 3 — Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.
Subsequent Events	(M) Subsequent events: Subsequent events have been evaluated through the date these financial statements were issued. See Note 16.
New Accounting Standards	(N) New accounting standards not yet adopted: In August 2018, the FASB issued No. 2018-13, Fair Value Measurement (Topic 820) (“ASU 2018-13”). ASU 2018-13 modifies disclosure requirements related to fair value measurement and is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. Early adoption is permitted. ASU 2018-13 also allows for early adoption of any removed or modified disclosures upon issuance of ASU 2018-13 while delaying adoption of the additional disclosures until their effective date. The Company is currently evaluating the In August 2018, the FASB issued No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) (“ASU 2018-15”). ASU 2018-15 reduces complexity for the accounting for costs of implementing a cloud computing service arrangement and aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). ASU 2018-15 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the . (O) New accounting standards adopted: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. The Company adopted the new lease standard, as of January 1, 2019, using the optional transition method under which comparative financial information will not be restated and continue to apply the provisions of the previous lease standard in its annual disclosures for the comparative periods. In addition, the new lease standard provides a number of optional practical expedients in transition. The Company elected the package of practical expedients. As such, the Company did not have to reassess whether expired or existing contracts are or contain a lease; did not have to reassess the lease classifications or reassess the initial direct costs associated with expired or existing leases. Furthermore, the Company did not have any leases impacted by ASC 842 on the adoption date. As part of the purchase price allocation from the reverse merger, the Company recorded a Right of Use asset and Liability of $1.4 million. The new lease standard also provides practical expedients for an entity’s ongoing accounting. The Company elected the short-term lease recognition exemption under which the Company will not recognize right-of-use (“ROU”) assets or lease liabilities, and this includes not recognizing ROU assets or lease liabilities for existing short-term leases. The Company elected the practical expedient to not separate lease and non-lease components for certain classes of assets (office building). The Company determines if an arrangement is a lease at inception. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. Operating lease expense is recognized on a straight-line basis over the lease term, subject to any changes in the lease or expectations regarding the terms. Variable lease costs such as operating costs and property taxes are expensed as incurred. In June 2018, the FASB issued ASU 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Non-employee Share-Based Payment Accounting, which expands the scope of Topic 718, Compensation—Stock Compensation to include share-based payments issued to non-employees for goods or services. Consequently, the accounting for share-based payments to non-employees and employees will be substantially aligned. On January 1, 2019, the Company adopted ASU 2018-07 and there was no impact to its financial statements.
Immaterial Correction of an Error in Prior Periods	(P) Immaterial Correction of an Error in Prior Periods : During the quarter ended December 31, 2019, the Company identified errors related to the presentation of certain historical equity accounting and the treatment of certain expenses in the pre-merger period for private PDS. In accordance with Accounting Standards Codification (“ASC”) 250, Accounting Changes and Error Corrections A. For the year ended December 31, 2018, the Company determined that it incorrectly recognized patent license fees as intangible assets. The net effect of this error resulted in a reduction in net intangible assets of $41,692 and increases in research and development expenses, net loss and accumulated deficit of $41,692. B. For the year ended December 31, 2018, the Company determined that it incorrectly recognized stock-based compensation expense for common stock awards that were granted to two Board Members in the fourth quarter of 2018. These awards were in lieu of payments for services performed by the Board Members through the grant date. The terms of the awards provided that they vested immediately. The Company amortized the stock-based compensation expense from October 2018 through March 15, 2019 instead of on the grant date. The net effect of these errors resulted in a reduction in prepaid expenses of $138,200 and increases to general and administrative expenses, net loss and accumulated deficit of $138,200. C. For the year ended December 31, 2018, the Company determined that it incorrectly capitalized transaction costs related to a business combination and a consulting agreement. The net effect of these errors resulted in increases in net loss, general and administrative expenses, additional paid- in capital and accumulated deficit of $560,234. D. For the year ended December 31, 2018, the Company determined that it incorrectly accounted for an extinguishment of a trade payable in accordance with ASC 470-50-40-2. Under ASC 470-50-40-2 the difference between the reacquisition price of the debt and the net carrying amount of the extinguished debt shall be recognized currently in income of the period of extinguishment as losses or gains and identified as a separate item. Gains and losses shall not be amortized to future periods. The reacquisition price includes the fair value of any assets transferred or equity securities issued. It also includes fees (which may include noncash fees) the reporting entity pays the original lender in connection with the extinguishment. The net effect of these errors resulted in an increase in warrant liability of $291,225; and increases in loss on extinguishment, net loss and accumulated deficit of $185,800 and a reduction in accounts payable of $105,425. The following table sets forth the effect this immaterial error correction had on the Company's consolidated balance sheet as of December 31, 2018: Previously Reported Year Ended December 31, 2018 Corrections Restated ASSETS Prepaid expenses and other receivables $ 156,628 $ (138,200 ) B 18,428 Total current assets 260,323 (138,200 ) 122,123 Intangible Assets, net 41,692 (41,692 ) A - Total assets $ 344,323 $ (179,892 ) $ 164,431 Liabilities and Stockholders' (Deficit) Current Liabilities: Accounts payable $ 1,412,954 $ (105,425 ) D $ 1,307,529 Total current liabilities 2,014,843 (105,425 ) 1,909,418 Warrant liability - 291,225 D 291,225 Total liabilities 2,044,843 185,800 2,230,643 Stockholders' (Deficit) Additional paid in capital 19,312,548 560,234 C 19,872,782 Accumulated deficit (21,013,173 ) (41,692 ) A (21,939,099 ) (138,200 ) B (560,234 ) C (185,800 ) D Total stockholders' (deficit) (1,700,520 ) (365,692 ) (2,066,212 ) Total liabilities and stockholders' (deficit) $ 344,323 $ (179,892 ) $ 164,431 The following table sets forth the effect this immaterial error correction had on the Company’s consolidated statement of operations and comprehensive loss for the year ended December 31, 2018: Previously Reported Year Ended December 31, 2018 Corrections Restated Operating expenses: Research and development $ 789,052 $ 41,692 A $ 830,744 General and administrative 2,089,582 138,200 B 2,788,016 560,234 C Total operating expenses 2,906,060 740,126 3,646,186 Loss from operations (2,906,060 ) (740,126 ) (3,646,186 ) Other income (expense): Loss on extinguishment of debt - (185,800 ) D (185,800 ) (4,495 ) (185,800 ) (190,295 ) Net (loss) $ (2,910,555 ) $ (925,926 ) $ (3,836,481 ) The following table sets forth the effect this immaterial error correction had on the Company's consolidated statement of cash flows for the year ended December 31, 2018: Previously Reported Year Ended December 31, 2018 Corrections Restated Cash flows from operating activities: Net loss $ (2,910,555 ) $ (41,692 ) A $ (3,836,481 ) (138,200 ) B (560,234 ) C (185,800 ) D Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 27,426 41,692 A 69,118 Loss on extinguishment of debt 291,225 D 185,800 (105,425 ) D Changes in operating assets and liabilities: Accounts payable 788,830 Prepaid expenses and other receivables (101,825 ) 138,200 B 36,375 Net cash used in operating activities (1,009,343 ) (560,234 ) (1,569,577 ) Cash flows from finacing activities: Issuance costs (560,234 ) 560,234 C - Net cash provided by financing activities 937,154 560,234 1,497,388 Net increase (decrease) in cash and cash equivalents (72,189 ) - (72,189 ) Cash and cash equivalents beginning of the year 175,884 - 175,884 Cash and cash equivalents end of the year $ 103,695 $ - $ 103,695

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Summary of Significant Accounting Policies [Abstract]
Antidilutive Securities	The potentially dilutive securities excluded from the determination of diluted loss per share as their effect is antidilutive, are as follows: Year Ended December 31, 2019 2018 Stock options to purchase Common Stock 1,421,797 1,658,883 Warrants to purchase Common Stock 258,825 475,694 Total 1,680,626 2,134,577
Restatement of Previously Reported Condensed Consolidated Financial Statements	The following table sets forth the effect this immaterial error correction had on the Company's consolidated balance sheet as of December 31, 2018: Previously Reported Year Ended December 31, 2018 Corrections Restated ASSETS Prepaid expenses and other receivables $ 156,628 $ (138,200 ) B 18,428 Total current assets 260,323 (138,200 ) 122,123 Intangible Assets, net 41,692 (41,692 ) A - Total assets $ 344,323 $ (179,892 ) $ 164,431 Liabilities and Stockholders' (Deficit) Current Liabilities: Accounts payable $ 1,412,954 $ (105,425 ) D $ 1,307,529 Total current liabilities 2,014,843 (105,425 ) 1,909,418 Warrant liability - 291,225 D 291,225 Total liabilities 2,044,843 185,800 2,230,643 Stockholders' (Deficit) Additional paid in capital 19,312,548 560,234 C 19,872,782 Accumulated deficit (21,013,173 ) (41,692 ) A (21,939,099 ) (138,200 ) B (560,234 ) C (185,800 ) D Total stockholders' (deficit) (1,700,520 ) (365,692 ) (2,066,212 ) Total liabilities and stockholders' (deficit) $ 344,323 $ (179,892 ) $ 164,431 The following table sets forth the effect this immaterial error correction had on the Company’s consolidated statement of operations and comprehensive loss for the year ended December 31, 2018: Previously Reported Year Ended December 31, 2018 Corrections Restated Operating expenses: Research and development $ 789,052 $ 41,692 A $ 830,744 General and administrative 2,089,582 138,200 B 2,788,016 560,234 C Total operating expenses 2,906,060 740,126 3,646,186 Loss from operations (2,906,060 ) (740,126 ) (3,646,186 ) Other income (expense): Loss on extinguishment of debt - (185,800 ) D (185,800 ) (4,495 ) (185,800 ) (190,295 ) Net (loss) $ (2,910,555 ) $ (925,926 ) $ (3,836,481 ) The following table sets forth the effect this immaterial error correction had on the Company's consolidated statement of cash flows for the year ended December 31, 2018: Previously Reported Year Ended December 31, 2018 Corrections Restated Cash flows from operating activities: Net loss $ (2,910,555 ) $ (41,692 ) A $ (3,836,481 ) (138,200 ) B (560,234 ) C (185,800 ) D Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 27,426 41,692 A 69,118 Loss on extinguishment of debt 291,225 D 185,800 (105,425 ) D Changes in operating assets and liabilities: Accounts payable 788,830 Prepaid expenses and other receivables (101,825 ) 138,200 B 36,375 Net cash used in operating activities (1,009,343 ) (560,234 ) (1,569,577 ) Cash flows from finacing activities: Issuance costs (560,234 ) 560,234 C - Net cash provided by financing activities 937,154 560,234 1,497,388 Net increase (decrease) in cash and cash equivalents (72,189 ) - (72,189 ) Cash and cash equivalents beginning of the year 175,884 - 175,884 Cash and cash equivalents end of the year $ 103,695 $ - $ 103,695

Reverse Merger (Tables)

Reverse Merger (Tables)	12 Months Ended
	Dec. 31, 2019
Reverse Merger [Abstract]
Calculation and Allocation of Purchase Price	Pursuant to the Plan of Merger and Reorganization Agreement, as amended, Edge issued to Private PDS’s stockholders a number of shares of Edge’s common stock representing approximately 70% of the outstanding shares of common stock of the combined company. The purchase price, which represents the consideration transferred to Edge’s stockholders in the Merger is calculated based on the number of shares of common stock of the combined company that Edge’s stockholders owned as of the closing of the Merger on March 15, 2019, which consists of the following: Number of shares of the combined company to be owned by Edge security holders (1) 1,600,166 Multiplied by the price per share of Edge’s common stock as of March 15, 2019 $ 9.87 Purchase price (in thousands) $ 15,794 (1) The amount includes 1,576,916 shares of Edge’s common stock outstanding as of March 15, 2019 plus 23,250 stock options of Edge that were in the money and vested immediately upon closing of the Merger. At closing, 753 of in-the-money options and 235 fractional shares paid out in cash to shareholders were not issued as common stock, resulting in 1,599,178 common shares issued. The final allocation of the purchase price to the net assets of Edge, based on the fair values as of March 15, 2019, is as follows: Cash and cash equivalents $ 29,106,513 Prepaid expense and other assets 1,585,482 Right to use asset 1,384,810 Intangible assets-IPR&D 2,974,000 Total identifiable assets acquired 35,050,805 Accounts payable, accrued expenses, other liabilities (4,595,934 ) Long term lease liability (945,152 ) Deferred income tax benefit (381,513 ) Total liabilities assumed (5,922,599 ) Net identifiable assets acquired 29,128,206 Bargain purchase gain (13,334,568 ) Purchase price $ 15,793,638
Pro Forma Consolidated Results	The following pro forma consolidated results of net loss for the years ended December 31, 2019 and 2018 assume the Merger was completed as of January 1, 2018: Year Ended December 31, 2019 2018 Pro forma operating expenses $ (31,152,190 $ 46,742,753 Pro forma net loss (31,134,293 ) (44,704,487 ) Pro forma basic and diluted net loss per share $ (6.40 ) $ (9.12 )

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	Fair Value Measurements at Reporting Date Using Total Quoted Prices in Active Markets (Level 1) Quoted Prices in Inactive Markets (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2019: Cash and cash equivalents $ 12,161,739 $ 12,161,739 $ – $ – As of December 31, 2018: Cash and cash equivalents $ 103,695 $ 103,695 $ – $ – Warrant liability (See Note 12) $ 291,225 $ – $ – $ 291,225

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Property and Equipment [Abstract]
Property and Equipment	Property and equipment is summarized as follows: December 31, 2019 2018 Furniture and equipment $ 14,964 $ 1,343 Computer and Telephone equipment 13,545 13,545 Lab equipment 86,911 86,911 Total furniture and equipment 115,420 101,799 Less accumulated depreciation (94,369 ) (72,291 ) Property and equipment, net $ 21,051 $ 29,508

Accrued Expenses and Restruct_2

Accrued Expenses and Restructuring Reserve (Tables)	12 Months Ended
	Dec. 31, 2019
Accrued Expenses and Restructuring Reserve [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following: December 31, 2019 2018 Accrued research and development costs $ 16,415 $ 315,529 Accrued professional fees 256,061 177,417 Accrued compensation 603,229 45,833 Accrued rent 221,934 8,000 Accrued other - 55,110 Total $ 1,097,639 $ 601,889

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Stock-Based Compensation [Abstract]
Stock-Based Compensation Expense	The following table summarizes the components of stock-based compensation expense in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2019 and 2018: Year Ended December 31, 2019 2018 Research and development $ 550,605 $ 46,383 General and administrative 2,588,448 205,564 Total $ 3,139,053 $ 251,947
Stock Option Activity	The following table summarizes the stock option activity for the Company’ stock option plans for the year ended December 31, 2019: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life in Years Aggregate Intrinsic Value Balance at January 1, 2019 541,117 $ 7.20 4.29 $ – Assumed in connection with merger 347,697 $ 121.52 5.67 $ – Granted 828,637 $ 7.43 9.35 $ – Exercised – $ – – $ – Forfeited (295,654 ) $ 99.27 – $ – Options outstanding at December 31, 2019 1,421,797 $ 15.95 7.09 $ – Vested and expected to vest at December 31, 2019 1,421,797 $ 15.95 7.09 $ – Exercisable at December 31, 2019 1,000,367 $ 20.15 6.03 $ –
Assumptions Used to Value Stock Options Granted	The fair value of options granted during the year ended December 31, 2019 was estimated using the Black-Scholes option valuation model utilizing the following assumptions: Year Ended December 31, 2019 Weighted Average Volatility 85% - 94% Risk-Free Interest Rate 1.49% - 2.43% Expected Term in Years 5.54 years Dividend Rate –

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) (Tables)	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity (Deficit) [Abstract]
Assumptions Used to Value Warrants Granted	At March 13, 2019, Private PDS estimated the fair value of the warrant using the Black-Scholes option pricing model utilizing the following assumptions. Private PDS determined the expected stock price volatility based on volatilities of a peer group of similar companies in the biotechnology industry whose share prices are publicly available. The expected term of the warrant was based on the contractual term. The risk-free interest rate was based on the U.S. Treasury yield curve at the time of the grant over the term of the warrant grant. The expected dividend rate is based on the fact that the Company has never paid cash dividends and has no present intention to pay cash dividends. Volatility 83 % Risk-Free Interest Rate 2.63 % Expected Term in Years 10 Dividend Rate 0.00 % Fair Value of Warrant $ 8.23

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Taxes [Abstract]
Statutory to Effective Federal Income Tax Rate Reconciliation	A reconciliation of the statutory U.S. federal income tax rate to the Company’s effective tax rate is as follows: Year Ended December 31, 2019 2018 Federal statutory rate 21.0 % 21.0 % State taxes 21.1 % 5.4 % Extraordinary Gain 38.0 % – Permanent differences (4.1 )% (1.8 )% Research and development 4.1 % 0.2 % Valuation allowance (74.6 )% (24.8 )% Other (0.3 )% – Effective tax rate 5.2 % –
Deferred Tax Assets	The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets were as follows: December 31, 2019 2018 Federal net operating losses $ 16,620,765 $ 5,147,280 State net operating losses 4,653,462 – Stock options 2,153,487 – Warrants 143,841 – Federal tax credit 740,040 – State tax credits 657,376 – Amortization 47,811 2,238 Accrued expense 363,617 – Depreciation 719,263 438 In-process R&D – 98,427 Other 18,098 – Total gross deferred tax assets 26,117,760 5,248,383 Less valuation allowance (26,117,760 ) (5,248,383 ) Net deferred tax assets $ – $ –

Nature of Operations (Details)

Nature of Operations (Details)	Mar. 15, 2019	Dec. 31, 2019Patent
Intellectual Property [Abstract]
Reverse stock split ratio	0.05
U.S. [Member]
Intellectual Property [Abstract]
Number of patents held		4
Number of pending patent applications		6
Foreign [Member]
Intellectual Property [Abstract]
Number of patents held		22
Number of pending patent applications		33

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Aug. 31, 2019	Mar. 15, 2019
Intangibles [Abstract]
IPR&D asset	$ 2,974,000	$ 0
Net Loss per Common Share [Abstract]
Antidilutive impact to EPS (in shares)	1,680,626	2,134,577
Accounting Standards Adopted [Abstract]
Right to use asset			$ 1,200,000	$ 1,400,000
Lease liability			$ 1,200,000	1,400,000
Minimum [Member]
Property and Equipment [Abstract]
Estimated useful lives of property and equipment	3 years
Maximum [Member]
Property and Equipment [Abstract]
Estimated useful lives of property and equipment	5 years
Stock Options to Purchase Common Stock [Member]
Net Loss per Common Share [Abstract]
Antidilutive impact to EPS (in shares)	1,421,797	1,658,883
Warrants to Purchase Common Stock [Member]
Net Loss per Common Share [Abstract]
Antidilutive impact to EPS (in shares)	258,829	475,694
ASU 2016-02 [Member]
Accounting Standards Adopted [Abstract]
Right to use asset				1,400,000
Lease liability				$ 1,400,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies, Immaterial Correction of an Error in Prior Periods (Details)	Mar. 13, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)Member	Dec. 31, 2017USD ($)
Immaterial Correction of an Error in Prior Periods [Abstract]
Number of Board Members receiving common stock awards | Member			2
ASSETS
Prepaid expenses and other receivables		$ 2,308,462	$ 18,428
Total current assets		14,470,201	122,123
Intangible Assets, net		2,974,000	0
Total assets		14,491,252	164,431
Current Liabilities:
Accounts payable		1,197,720	1,307,529
Total current liabilities		2,793,545	1,909,418
Warranty liability	$ 372,925	0	291,225
Total liabilities		2,793,545	2,230,643
Stockholders' (Deficit)
Additional paid in capital			19,872,782
Accumulated deficit		(28,937,705)	(21,939,099)
Total stockholders' equity (deficit)		11,697,707	(2,066,212)	$ (609,528)
Total liabilities and stockholders' equity (deficit)		14,491,252	164,431
Operating expenses:
Research and development		6,099,580	830,744
General and administrative		10,981,765	2,788,016
Total operating expenses		21,034,618	3,646,186
Loss from operations		(21,034,618)	(3,646,186)
Other income (expense):
Loss on extinguishment of debt		0	(185,800)
Other income (expense)			(190,295)
Net loss		(6,998,606)	(3,836,481)
Cash flows from operating activities:
Net loss		(6,998,606)	(3,836,481)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		98,414	69,118
Increase in warrant liability	$ 81,700	81,700	0
Loss on extinguishment of debt		0	185,800
Changes in operating assets and liabilities:
Accounts payable		(1,977,667)	788,830
Prepaid expenses and other receivables			36,375
Net cash used in operating activities		(18,073,469)	(1,569,577)
Cash flows from financing activities:
Issuance costs			0
Net cash provided by financing activities		750,000	1,497,388
Net increase (decrease) in cash and cash equivalents		12,058,044	(72,189)
Cash and cash equivalents at beginning of period		103,695	175,884
Cash and cash equivalents at end of period		12,161,739	103,695
Previously Reported [Member]
ASSETS
Prepaid expenses and other receivables			156,628
Total current assets			260,323
Intangible Assets, net			41,692
Total assets			344,323
Current Liabilities:
Accounts payable			1,412,954
Total current liabilities			2,014,843
Warranty liability			0
Total liabilities			2,044,843
Stockholders' (Deficit)
Additional paid in capital			19,312,548
Accumulated deficit			(21,013,173)
Total stockholders' equity (deficit)			(1,700,520)
Total liabilities and stockholders' equity (deficit)			344,323
Operating expenses:
Research and development			789,052
General and administrative			2,089,582
Total operating expenses			2,906,060
Loss from operations			(2,906,060)
Other income (expense):
Loss on extinguishment of debt			0
Other income (expense)			(4,495)
Net loss			(2,910,555)
Cash flows from operating activities:
Net loss			(2,910,555)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			27,426
Loss on extinguishment of debt			0
Changes in operating assets and liabilities:
Accounts payable			788,830
Prepaid expenses and other receivables			(101,825)
Net cash used in operating activities			(1,009,343)
Cash flows from financing activities:
Issuance costs			(560,234)
Net cash provided by financing activities			937,154
Net increase (decrease) in cash and cash equivalents			(72,189)
Cash and cash equivalents at beginning of period		103,695	175,884
Cash and cash equivalents at end of period			103,695
Restatement Adjustment [Member]
ASSETS
Total current assets			(138,200)
Total assets			(179,892)
Current Liabilities:
Total current liabilities			(105,425)
Total liabilities			185,800
Stockholders' (Deficit)
Total stockholders' equity (deficit)			(365,692)
Total liabilities and stockholders' equity (deficit)			(179,892)
Operating expenses:
Total operating expenses			740,126
Loss from operations			(740,126)
Other income (expense):
Other income (expense)			(185,800)
Net loss			(925,926)
Cash flows from operating activities:
Net loss			(925,926)
Changes in operating assets and liabilities:
Net cash used in operating activities			(560,234)
Cash flows from financing activities:
Net cash provided by financing activities			560,234
Net increase (decrease) in cash and cash equivalents			0
Cash and cash equivalents at beginning of period		$ 0	0
Cash and cash equivalents at end of period			0
Restatement Adjustment [Member] | Recognition of Patent License Fees as Intangible Assets [Member]
ASSETS
Intangible Assets, net			(41,692)
Stockholders' (Deficit)
Accumulated deficit			(41,692)
Operating expenses:
Research and development			41,692
Other income (expense):
Net loss			(41,692)
Cash flows from operating activities:
Net loss			(41,692)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			41,692
Restatement Adjustment [Member] | Recognition of Stock-Based Compensation Expense for Common Stock Awards Granted to Two Board Members [Member]
ASSETS
Prepaid expenses and other receivables			(138,200)
Stockholders' (Deficit)
Accumulated deficit			(138,200)
Operating expenses:
General and administrative			138,200
Other income (expense):
Net loss			(138,200)
Cash flows from operating activities:
Net loss			(138,200)
Changes in operating assets and liabilities:
Prepaid expenses and other receivables			138,200
Restatement Adjustment [Member] | Capitalization of Transaction Costs Related to Business Combination and Consulting Agreement. [Member]
Immaterial Correction of an Error in Prior Periods [Abstract]
Net effect of error			560,234
Stockholders' (Deficit)
Additional paid in capital			560,234
Accumulated deficit			(560,234)
Operating expenses:
General and administrative			560,234
Other income (expense):
Net loss			(560,234)
Cash flows from operating activities:
Net loss			(560,234)
Cash flows from financing activities:
Issuance costs			560,234
Restatement Adjustment [Member] | Accounting for Extinguishment of Trade Payable [Member]
Current Liabilities:
Accounts payable			(105,425)
Warranty liability			291,225
Stockholders' (Deficit)
Accumulated deficit			(185,800)
Other income (expense):
Loss on extinguishment of debt			(185,800)
Net loss			(185,800)
Cash flows from operating activities:
Net loss			(185,800)
Adjustments to reconcile net loss to net cash used in operating activities:
Increase in warrant liability			291,225
Loss on extinguishment of debt			185,800
Restatement Adjustment [Member] | Impact of Accounting for Extinguishment of Trade Payable on Accounts Payable [Member]
Other income (expense):
Loss on extinguishment of debt			105,425
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on extinguishment of debt			$ (105,425)

Liquidity and Capital Resourc_2

Liquidity and Capital Resources (Details)	Jul. 29, 2019USD ($)shares	Feb. 29, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)Priceshares	Dec. 31, 2018USD ($)	Jul. 26, 2019$ / shares	Mar. 15, 2019USD ($)
Liquidity and Capital Resources [Abstract]
Cash and cash equivalents			$ 12,161,739	$ 103,695
Threshold closing sale prices | Price			3
Threshold consecutive trading days			10 days
Percentage of shares of common stock that can be sold without shareholder approval	19.99%
Share price (in dollars per share) | $ / shares					$ 5.76
Issuance of common stock from equity transaction (in shares) | shares	100,654
Stock-based consulting expense	$ 603,924		$ 603,924	$ 0
Shares sold (in shares) | shares			0
Subsequent Event [Member]
Liquidity and Capital Resources [Abstract]
Share price (in dollars per share) | $ / shares		$ 1.30
Proceeds from issuance of shares, net		$ 11,900,000
Maximum [Member]
Liquidity and Capital Resources [Abstract]
Shares of common stock to be purchased (in shares) | shares	100,000
Common stock to be purchased	$ 20,000,000
Shares of common stock that can be sold without shareholder approval (in shares) | shares	1,034,979
Minimum [Member]
Liquidity and Capital Resources [Abstract]
Share price (in dollars per share) | $ / shares					$ 0.50
Edge [Member]
Liquidity and Capital Resources [Abstract]
Pre-existing cash						$ 29,106,513

Reverse Merger (Details)

Reverse Merger (Details)	Mar. 15, 2019shares
Reverse Merger [Abstract]
Reverse stock split ratio	0.05
Number of shares issued for each share of common stock in connection with Merger (in shares)	0.3262
Number of shares issued in connection with Merger (in shares)	3,573,760
Percentage of shares owned in the combined company's common stock prior to the Merger	70.00%

Reverse Merger, Purchase Price

Reverse Merger, Purchase Price (Details) - USD ($)		Mar. 15, 2019	Dec. 31, 2019	Mar. 14, 2019	Dec. 31, 2018
Purchase Price [Abstract]
Common stock shares outstanding (in shares)			5,281,237		3,417,187
In-the-money shares paid out in cash (in shares)		753
Fractional shares paid out in cash (in shares)		235
Shares issued in Merger (in shares)		1,599,178
Edge [Member]
Purchase Price [Abstract]
Number of shares of the combined company to be owned by Edge security holders (in shares)	[1]	1,600,166
Multiplied by the price per share of Edge's common stock as of March 15, 2019 (in dollars per share)		$ 9.87
Purchase price		$ 15,793,638
Common stock shares outstanding (in shares)				1,576,916
Number of stock options vested (in shares)		23,250
[1]	The amount includes 1,576,916 shares of Edge's common stock outstanding as of March 15, 2019 plus 23,250 stock options of Edge that were in the money and vested immediately upon closing of the Merger. At closing, 753 of in-the-money options and 235 fractional shares paid out in cash to shareholders were not issued as common stock, resulting in 1,599,178 common shares issued.

Reverse Merger, Allocation of P

Reverse Merger, Allocation of Preliminary Purchase Price (Details)	Mar. 15, 2019USD ($)	Dec. 31, 2019USD ($)Adjustment	Jun. 30, 2019USD ($)Adjustment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Allocation of Preliminary Purchase Price [Abstract]
Bargain purchase gain				$ (13,334,568)	$ 0
Edge [Member]
Allocation of Preliminary Purchase Price [Abstract]
Number of adjustments made to preliminary allocation | Adjustment		2	2
Adjustment to preliminary valuation for equipment			$ 275,000
Equipment	$ 0
Adjustment to preliminary valuation for bonus plan			$ 65,551
Adjustment to preliminary valuation for IPR&D		$ 1,751,000
Adjustment to preliminary valuation for deferred tax liability		224,513
Adjustment to preliminary valuation for write-off relating transition service		$ 131,250
Cash and cash equivalents	29,106,513
Prepaid expense and other assets	1,585,482
Right to use asset	1,384,810
Intangible assets-IPR&D	2,974,000
Total identifiable assets acquired	35,050,805
Accounts payable, accrued expenses, other liabilities	(4,595,934)
Long term lease liability	(945,152)
Deferred income tax benefit	(381,513)
Total liabilities assumed	(5,922,599)
Net identifiable assets acquired	29,128,206
Bargain purchase gain	(13,334,568)
Purchase price	$ 15,793,638

Reverse Merger, Pro Forma Finan

Reverse Merger, Pro Forma Financial Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Pro Forma Financial Information [Abstract]
Pro forma operating expenses	$ (31,152,190)	$ 46,742,753
Pro forma net loss	$ (31,134,293)	$ (44,704,487)
Pro forma basic net loss per share (in dollars per share)	$ (6.40)	$ (9.12)
Pro forma diluted net loss per share (in dollars per share)	$ (6.40)	$ (9.12)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Mar. 13, 2019
Fair Value Transfers Between Levels [Abstract]
Transfers from Level 1 to Level 2, assets	$ 0	$ 0
Transfers from Level 2 to Level 1, assets	0	0
Transfers into Level 3, assets	0	0
Transfers out of Level 3, assets	0	0
Fair Value of Financial Instruments [Abstract]
Cash and cash equivalents	12,161,739	103,695
Warrant liability (See Note 12)	0	291,225	$ 372,925
Quoted Prices in Active Markets (Level 1) [Member]
Fair Value of Financial Instruments [Abstract]
Cash and cash equivalents	12,161,739	103,695
Warrant liability (See Note 12)		0
Quoted Prices in Inactive Markets (Level 2) [Member]
Fair Value of Financial Instruments [Abstract]
Cash and cash equivalents	0	0
Warrant liability (See Note 12)		0
Significant Unobservable Inputs (Level 3) [Member]
Fair Value of Financial Instruments [Abstract]
Cash and cash equivalents	$ 0	0
Warrant liability (See Note 12)		$ 0

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property and Equipment [Abstract]
Property and equipment	$ 115,420	$ 101,799
Less accumulated depreciation	(94,369)	(72,291)
Property and equipment, net	21,051	29,508
Depreciation expense	98,414	23,313
Furniture and Equipment [Member]
Property and Equipment [Abstract]
Property and equipment	14,964	1,343
Computer and Telephone Equipment [Member]
Property and Equipment [Abstract]
Property and equipment	13,545	13,545
Lab Equipment [Member]
Property and Equipment [Abstract]
Property and equipment	$ 86,911	$ 86,911

Impairment Charge (Details)

Impairment Charge (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Impairment Charge [Abstract]
Impairment of intangible asset	$ 2,974,000
Intangible assets	$ 2,974,000	$ 0

Leases (Details)

Leases (Details)	Aug. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jul. 08, 2019USD ($)Installment	Mar. 15, 2019USD ($)
Leases [Abstract]
Right-of-use asset	$ 1,200,000				$ 1,400,000
Operating leases liabilities	1,200,000				$ 1,400,000
Operating lease expense		$ 247,368
Percentage of remaining payments required to be paid to terminate lease				50.00%
Remaining lease payments				$ 665,802
Number of installments for remaining lease payment | Installment				3
Loss on lease termination	(600,000)
Write-off of leasehold improvements related to lease termination	$ (310,951)	$ (310,951)	$ 0

Accrued Expenses and Restruct_3

Accrued Expenses and Restructuring Reserve (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Accrued Expenses and Other Liabilities [Abstract]
Accrued research and development costs	$ 16,415	$ 315,529
Accrued professional fees	256,062	177,417
Accrued compensation	603,229	45,833
Accrued rent	221,934	8,000
Accrued other	0	55,110
Total	1,097,640	$ 601,889
Restructuring Reserve [Abstract]
Restructuring reserve recorded	2,070,271
Restructuring expenses paid	1,572,086
Remaining restructuring reserve	$ 498,185

Convertible Promissory Note (De

Convertible Promissory Note (Details) - USD ($)	Mar. 15, 2019	Nov. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Jul. 26, 2019
Convertible Debt [Abstract]
Closing price (in dollars per share)					$ 5.76
Beneficial conversion charge			$ 32,953	$ 0
Common Stock [Member]
Convertible Debt [Abstract]
Issuance of common stock for convertible debt (in shares)			9,683
Convertible Promissory Note [Member]
Convertible Debt [Abstract]
Proceeds from issuance of note		$ 30,000
Interest rate		7.50%
Conversion price (in dollars per share)	$ 1.11
Closing price (in dollars per share)	$ 3.22
Principal amount	$ 30,000
Accrued unpaid interest	$ 2,950
Beneficial conversion charge			$ 32,953
Convertible Promissory Note [Member] | Common Stock [Member]
Convertible Debt [Abstract]
Issuance of common stock for convertible debt (in shares)	9,683

Stock-Based Compensation, Equit

Stock-Based Compensation, Equity Compensation Plans (Details)	12 Months Ended
	Dec. 31, 2019Planshares	Dec. 31, 2014shares	Mar. 31, 2019shares	Jan. 02, 2019shares	Dec. 31, 2018shares	Jan. 02, 2018shares	Jan. 02, 2017shares	Jan. 02, 2016shares	Dec. 31, 2013shares	Dec. 31, 2012shares	Dec. 31, 2010shares
Stock Options [Abstract]
Number of equity compensation plans | Plan	5
The Plans [Member]
Stock Options [Abstract]
Term of plan	10 years
The Plans [Member] | Incentive Stock Options [Member]
Stock Options [Abstract]
Vesting period	4 years
The Plans [Member] | Incentive Stock Options [Member] | Maximum [Member]
Stock Options [Abstract]
Term of option	10 years
The Plans [Member] | Nonqualified Stock Options [Member] | Minimum [Member]
Stock Options [Abstract]
Vesting period	1 year
The Plans [Member] | Nonqualified Stock Options [Member] | Maximum [Member]
Stock Options [Abstract]
Vesting period	5 years
2010 Equity Incentive Plan [Member]
Stock Options [Abstract]
Number of shares authorized for issuance (in shares)		67,520							63,957		27,410
2012 Equity Incentive Plan [Member]
Stock Options [Abstract]
Number of shares authorized for issuance (in shares)										54,820
2014 Equity Incentive Plan [Member]
Stock Options [Abstract]
Number of shares authorized for issuance (in shares)		91,367	826,292	323,529		271,941	210,203	152,366
Percentage of Common Stock outstanding used to determine annual increase in the plan limit		4.00%
2018 Equity Incentive Plan [Member]
Stock Options [Abstract]
Number of shares authorized for issuance (in shares)					558,071
Shares available for grant (in shares)	190,799
2019 Inducement Plan [Member]
Stock Options [Abstract]
Common stock reserved for issuance (in shares)	200,000
Shares available for grant (in shares)	126,500

Stock-Based Compensation, Stock

Stock-Based Compensation, Stock-Based Compensation Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Stock-Based Compensation [Abstract]
Stock-based compensation expense	$ 3,139,053	$ 251,947
Research and Development [Member]
Stock-Based Compensation [Abstract]
Stock-based compensation expense	550,605	46,383
General and Administrative [Member]
Stock-Based Compensation [Abstract]
Stock-based compensation expense	$ 2,588,448	$ 205,564

Stock-Based Compensation, Sto_2

Stock-Based Compensation, Stock Option Activity (Details) - USD ($)	Mar. 13, 2019	Dec. 31, 2019	Dec. 31, 2018
Unamortized Stock Compensation Expense [Abstract]
Unamortized stock compensation expense		$ 1,681,000
Weighted-average grant date fair value, granted (in dollars per share)	$ 8.23
Stock Options [Member]
Number of Shares [Roll Forward]
Options outstanding, beginning balance (in shares)		541,117
Assumed in connection with merger (in shares)		347,697
Granted (in shares)		828,637
Exercised (in shares)		0
Forfeited (in shares)		(295,654)
Options outstanding, ending balance (in shares)		1,421,797	541,117
Vested and expected to vest (in shares)		1,421,797
Exercisable (in shares)		1,000,367
Weighted Average Exercise Price [Roll Forward]
Options outstanding, beginning balance (in dollars per share)		$ 7.20
Assumed in connection with merger (in dollars per share)		121.52
Granted (in dollars per share)		7.43
Exercised (in dollars per share)		0
Forfeited (in dollars per share)		99.27
Options outstanding, ending balance (in dollars per share)		15.95	$ 7.20
Vested and expected to vest (in dollars per share)		15.95
Exercisable (in dollars per share)		$ 20.15
Remaining Contractual Life and Aggregate Intrinsic Value [Abstract]
Options outstanding, weighted average remaining contractual life		7 years 1 month 2 days	4 years 3 months 14 days
Assumed in connection with merger, weighted average remaining contractual life		5 years 8 months 1 day
Granted, weighted average remaining contractual life		9 years 4 months 6 days
Vested and expected to vest, weighted average contractual life		7 years 1 month 2 days
Exercisable, weighted average contractual life		6 years 11 days
Options outstanding, aggregate intrinsic value		$ 0	$ 0
Assumed in connection with merger, aggregate intrinsic value		0
Granted, aggregate intrinsic value		0
Vested and expected to vest, aggregate intrinsic value		0
Exercisable, aggregate intrinsic value		$ 0
Unamortized Stock Compensation Expense [Abstract]
Period for recognition		3 years 4 months 17 days
Weighted-average grant date fair value, granted (in dollars per share)		$ 5.67

Stock-Based Compensation, Assum

Stock-Based Compensation, Assumptions Used to Value Stock Options Granted (Details)	Mar. 13, 2019	Dec. 31, 2019
Assumptions Used in Determining Fair Value of Stock Options Granted [Abstract]
Volatility	83.00%
Risk-free interest rate	2.63%
Expected term	10 years	5 years 6 months 14 days
Dividend rate	0.00%	0.00%
Minimum [Member]
Assumptions Used in Determining Fair Value of Stock Options Granted [Abstract]
Volatility		85.00%
Risk-free interest rate		1.49%
Maximum [Member]
Assumptions Used in Determining Fair Value of Stock Options Granted [Abstract]
Volatility		94.00%
Risk-free interest rate		2.43%

Stockholders' Equity (Deficit_2

Stockholders' Equity (Deficit) (Details)	1 Months Ended	12 Months Ended
	Feb. 28, 2019USD ($)$ / sharesshares	Dec. 31, 2019USD ($)Voteshares	Dec. 31, 2018USD ($)shares	Mar. 13, 2019$ / shares	Jan. 31, 2019USD ($)
Warrants and Rights Note Disclosure [Abstract]
Preferred stock, shares authorized (in shares)		5,000,000
Common stock, shares authorized (in shares)		75,000,000	75,000,000
Number of votes for each share of common stockholder | Vote		1
Warrant coverage			20.00%
Warrant coverage, amount received | $					$ 32,500
Proceeds from issuance of common stock | $	$ 750,000	$ 750,000	$ 1,280,000
Warrant coverage, collective amount received by investors | $	$ 337,500
Exercise price of warrant (in dollars per share) | $ / shares	$ 9.87			$ 9.87
Warrants issued (in shares)		37,487
2018 Bridge Finance [Member]
Warrants and Rights Note Disclosure [Abstract]
Warrant coverage					45.00%
Common Stock [Member]
Warrants and Rights Note Disclosure [Abstract]
Issuance of common stock, shares (in shares)	48,930	48,930	338,595

Stockholders' Equity (Deficit),

Stockholders' Equity (Deficit), Warrant Liability Classified to Additional Paid in Capital (Details) - USD ($)	Mar. 13, 2019	Dec. 31, 2019	Dec. 31, 2018	Feb. 28, 2019
Warrant Liability Classified to Additional Paid in Capital [Abstract]
Shares purchased with warrant (in shares)	45,288
Exercise price of warrant (in dollars per share)	$ 9.87			$ 9.87
Fair value of warrant liability	$ 372,925	$ 0	$ 291,225
Increase in warrant liability	81,700	81,700	0
Issuance of warrant in consideration for settlement agreement	$ 372,925	$ 372,925	$ 0
Assumptions Used in Determining Fair Value of Warrant Granted [Abstract]
Volatility	83.00%
Risk-free interest rate	2.63%
Expected term	10 years	5 years 6 months 14 days
Dividend rate	0.00%	0.00%
Fair value of warrant (in dollars per share)	$ 8.23

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Effective Federal Income Tax Rate Reconciliation [Abstract]
Federal statutory rate	21.00%	21.00%
State taxes	21.10%	5.40%
Extraordinary Gain	38.00%	0.00%
Permanent differences	(4.10%)	(1.80%)
Research and development	4.10%	0.20%
Valuation allowance	(74.60%)	(24.80%)
Other	(0.30%)	0.00%
Effective tax rate	5.20%	0.00%
Deferred Tax Assets [Abstract]
Federal net operating losses	$ 16,620,765	$ 5,147,280
State net operating losses	4,653,462	0
Stock options	2,153,487	0
Warrants	143,841	0
Amortization	47,811	2,238
Accrued expense	363,617	0
Depreciation	719,263	438
In-process R&D	0	98,427
Other	18,098	0
Total gross deferred tax assets	26,117,760	5,248,383
Less valuation allowance	(26,117,760)	(5,248,383)
Net deferred tax assets	0	0
Tax Carryforwards [Abstract]
Amount of change in valuation allowance	20,800,000
Income Tax Uncertainties [Abstract]
Uncertain tax positions	0
Federal [Member]
Tax Carryforwards [Abstract]
Net operating loss carryforwards	$ 79,100,000
Expiration date of net operating loss carryforwards	Dec. 31, 2032
Income Tax Uncertainties [Abstract]
Unrecognized tax benefits	$ 0	0
Accrued interest and penalties	0	0
New Jersey [Member]
Tax Carryforwards [Abstract]
Net operating loss carryforwards	$ 65,400,000
New Jersey [Member] | Minimum [Member]
Tax Carryforwards [Abstract]
Expiration date of net operating loss carryforwards	Dec. 31, 2029
New Jersey [Member] | Maximum [Member]
Tax Carryforwards [Abstract]
Expiration date of net operating loss carryforwards	Dec. 31, 2039
Research and Development Credit [Member] | Federal [Member]
Tax Carryforwards [Abstract]
Tax credit carryforwards	$ 700,000
Research and Development Credit [Member] | New Jersey [Member]
Tax Carryforwards [Abstract]
Tax credit carryforwards	800,000
Federal [Member]
Deferred Tax Assets [Abstract]
Tax credits	740,040	0
State [Member]
Deferred Tax Assets [Abstract]
Tax credits	$ 657,376	$ 0

Retirement Plan (Details)

Retirement Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Retirement Plan [Abstract]
401(k) employer contribution	$ 37,080	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	1 Months Ended		12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019	Dec. 31, 2019	Dec. 31, 2018	Mar. 10, 2020	Jul. 26, 2019
Subsequent Event [Abstract]
Public offering price (in dollars per share)						$ 5.76
Proceeds from issuance of shares, gross		$ 750,000	$ 750,000	$ 1,280,000
Subsequent Event [Member]
Subsequent Event [Abstract]
Number of shares sold (in shares)	10,000,000
Public offering price (in dollars per share)	$ 1.30
Proceeds from issuance of shares, gross	$ 13,000,000
Proceeds from issuance of shares, net	$ 11,900,000
Term of sublease agreement					40 months
Subsequent Event [Member] | Over-Allotment Option [Member]
Subsequent Event [Abstract]
Number of shares sold (in shares)	769,230