Neurotrope 10-Q 30 Oct 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 28, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Registrant Name	Neurotrope, Inc.
Entity Central Index Key	1,513,856
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	NTRP
Entity Common Stock, Shares Outstanding		7,909,693
Entity Emerging Growth Company	false
Entity Small Business	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 9,743,377	$ 16,113,150
Prepaid expenses	1,231,906	310,437
TOTAL CURRENT ASSETS	10,975,283	16,423,587
Fixed assets, net of accumulated depreciation	21,325	20,655
TOTAL ASSETS	10,996,608	16,444,242
CURRENT LIABILITIES
Accounts payable	1,484,490	1,240,033
Accounts payable - related party	112,900	0
Accrued expenses	89,001	268,250
Accrued expenses - related party	25,000	50,000
TOTAL CURRENT LIABILITIES	1,711,391	1,558,283
Commitments and contingencies
SHAREHOLDERS' EQUITY
Common stock - 150,000,000 shares authorized, $.0001 par value; 7,909,693 shares issued and outstanding at September 30, 2018; 7,895,859 shares issued and outstanding at December 31, 2017	791	790
Additional paid-in capital	79,224,775	77,544,976
Accumulated deficit	(69,940,349)	(62,659,807)
TOTAL SHAREHOLDERS' EQUITY	9,285,217	14,885,959
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 10,996,608	$ 16,444,242

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets [Parenthetical] - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	7,909,693	7,895,859
Common stock, shares outstanding	7,909,693	7,895,859

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
OPERATING EXPENSES:
Research and development - related party	$ 62,900	$ 75,431	$ 225,793	$ 164,619
Research and development	1,674,387	744,618	2,450,566	3,662,589
General and administrative - related party	12,500	12,500	37,500	26,918
General and administrative	904,729	1,252,962	2,980,105	3,833,962
Stock based compensation - related party	60,498	33,955	235,434	100,758
Stock-based compensation	487,738	197,146	1,439,939	581,664
TOTAL OPERATING EXPENSES	3,202,752	2,316,612	7,369,337	8,370,510
OTHER INCOME (EXPENSE):
Loss on abandonment of fixed assets	0	0	0	(34,274)
Gain on settlement of lease obligation	0	0	0	53,599
Interest income	33,398	20,298	88,795	46,755
Net loss before income taxes	(3,169,354)	(2,296,314)	(7,280,542)	(8,304,430)
Provision for income taxes	0	0	0	0
Net loss	$ (3,169,354)	$ (2,296,314)	$ (7,280,542)	$ (8,304,430)
PER SHARE DATA:
Basic and diluted loss per common share	$ (0.40)	$ (0.29)	$ (0.92)	$ (1.08)
Basic and diluted weighted average common shares outstanding	7,909,600	7,894,400	7,906,800	7,674,600

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Changes in Shareholders' Equity - 9 months ended Sep. 30, 2018 - USD ($)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2017	$ 14,885,959	$ 790	$ 77,544,976	$ (62,659,807)
Balance (in shares) at Dec. 31, 2017		7,895,859
Exercise of common stock warrants	4,427	$ 1	4,426	0
Exercise of common stock warrants (in shares)		13,834
Stock based compensation	1,675,373	$ 0	1,675,373	0
Net loss	(7,280,542)	0	0	(7,280,542)
Balance at Sep. 30, 2018	$ 9,285,217	$ 791	$ 79,224,775	$ (69,940,349)
Balance (in shares) at Sep. 30, 2018		7,909,693

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (7,280,542)	$ (8,304,430)
Adjustments to reconcile net loss to net cash used by operating activities
Stock based compensation	1,675,373	682,422
Consulting services paid by issuance of common stock	0	121,645
Depreciation expense	2,516	3,176
Loss on abandonment of fixed assets	0	34,274
Change in assets and liabilities
Increase in prepaid expenses	(921,469)	(292,718)
(Increase) decrease in accounts payable	244,457	(549,727)
Increase in accounts payable - related party	112,900	0
Decrease in accrued expenses	(179,249)	(140,717)
Decrease in accrued expenses - related party	(25,000)	(4,609)
Total adjustments	909,528	(146,254)
Net Cash Used in Operating Activities	(6,371,014)	(8,450,684)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(3,186)	(3,585)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of common stock warrants	4,427	1,331,265
Net Cash Provided by Financing Activities	4,427	1,331,265
NET DECREASE IN CASH	(6,369,773)	(7,123,004)
CASH AT BEGINNING OF PERIOD	16,113,150	25,773,533
CASH AT END OF PERIOD	$ 9,743,377	$ 18,650,529

Organization and Nature of Plan

Organization and Nature of Planned Business:	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	Note 1 – Organization and Nature of Planned Business : Business Neurotrope BioScience was incorporated in Delaware on October 31, 2012. Neurotrope BioScience was formed to advance new therapeutic and diagnostic technologies in the field of neurodegenerative disease, primarily Alzheimer’s disease (“AD”). Neurotrope BioScience is collaborating with Cognitive Research Enterprises, Inc. (formerly known as the Blanchette Rockefeller Neurosciences Institute, or BRNI) (“CRE”), a related party, in this process. The exclusive rights to certain technology were licensed by CRE to the Company on February 28, 2013 (see Note 4). Liquidity As of October 28, 2018, the Company had approximately $9.5 million in cash and cash equivalents. The Company expects that its existing capital resources will be sufficient to support its projected operating requirements into the beginning of November 2019, including the continuing development of bryostatin, our novel drug targeting the activation of PKC epsilon, through our ongoing follow-on clinical study ( cost $7.3 million - see Note 3). $5.3 million for the ongoing confirmatory clinical trial is anticipated to be paid over the next nine to 12 months, with a total of approximately $4.2 million for general corporate and working capital purposes spread over the next approximately 13 months. The Company’s ability to fund operations past November of 2019 is dependent upon the Company’s ability to obtain additional financing through equity and/or debt financing arrangements . There can be no assurances that additional financing will be available on acceptable terms to the Company, or at all. If any material unforeseen contingencies were to arise during the next twelve months, the Company could be required to implement cost reduction strategies or curtail operations if the Company is unable to obtain additional financing to meet obligations as they come due. We expect to require additional capital in order to pursue additional development projects in addition to our current confirmatory AD clinical trial. Additional funding may not be available to us on acceptable terms, or at all. If we are unable to access additional funds when needed, or if we incur unforeseen additional material costs or expenses during the next 12 months, we may not be able to pursue development of such other product candidates. If so, we could be required to delay, scale back or eliminate some or all of our existing or additional contemplated development programs and operations. Any additional equity financing, if available, may not be available on favorable terms, would most likely be significantly dilutive to our current stockholders and debt financing, if available, may involve restrictive covenants. If we are able to access funds through collaborative or licensing arrangements, we may be required to relinquish rights to some of our technologies or product candidates that we would otherwise seek to develop or commercialize on our own, on terms that are not favorable to us. Our ability to access capital when needed is not assured and, if not achieved on a timely basis, will materially harm our business, financial condition and results of operations. Basis of Presentation Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) have been condensed or omitted. However, the Company believes that the disclosures included in these financial statements are adequate to make the information presented not misleading. The unaudited condensed consolidated financial statements included in this document have been prepared on the same basis as the annual consolidated financial statements, and in our opinion reflect all adjustments, which include normal recurring adjustments necessary for a fair presentation in accordance with GAAP and SEC regulations for interim financial statements. The results for the nine months ended September 30, 2018 are not necessarily indicative of the results that the Company will have for any subsequent period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes to those statements for the year ended December 31, 2017 included in our Annual Report on Form 10-K.

Summary of Significant Accounti

Summary of Significant Accounting Policies:	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Note 2 – Summary of Significant Accounting Policies : Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents: The Company considers all highly liquid temporary cash investments with an original maturity of three months or less when purchased to be cash equivalents. At September 30, 2018, the Company’s cash balances exceed the current insured amounts under the Federal Deposit Insurance Corporation. Property and Equipment: Property and equipment is capitalized and depreciated on a straight line basis over the estimated useful life of the asset, which is deemed to be between three and ten years. Research and Development Costs: All research and development costs, including costs to maintain or expand the Company’s patent portfolio licensed from CRE that do not meet the criteria for capitalization are expensed when incurred. FASB ASC Topic 730 requires companies involved in research and development activities to capitalize non-refundable advance payments for such services pursuant to contractual arrangements because the right to receive those services represents an economic benefit. Such capitalized advances will be expensed when the services occur and the economic benefit is realized. There were no capitalized research and development services at September 30, 2018 and December 31, 2017. Loss Per Share: Basic loss per common share amounts are based on weighted average number of common shares outstanding. Diluted loss per share amounts are based on the weighted average number of common shares outstanding, plus the incremental shares that would have been outstanding upon the assumed exercise of all potentially dilutive stock options and warrants subject to anti-dilution limitations. All such potentially dilutive instruments were anti-dilutive as of September 30, 2018 and 2017, which were approximately 6.5 million shares and 5.8 million shares, respectively. Income Taxes: Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due and deferred taxes. Deferred taxes are recognized for differences between the basis of assets and liabilities for financial statement and income tax purposes and the tax effects of net operating loss and other carryforwards. The deferred tax assets and liabilities represent the future tax consequences of those differences and carryforwards, which will either be taxable or deductible when the related assets, liabilities or carryforwards are recovered or settled. Deferred tax assets are reduced by a valuation allowance when, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company applies the provisions of FASB ASC 740-10, Accounting for Uncertain Tax Positions , which clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The standard also provides guidance on de-recognition, classification, interest and penalties, and accounting in interim periods, disclosure and transitions. The Company has concluded that there are no significant uncertain tax positions requiring recognition in the accompanying financial statements. The tax period that is subject to examination by major tax jurisdictions is generally three years from the date of filing. Under Section 382 of the Internal Revenue Code of 1986, as amended, changes in the Company's ownership may limit the amount of its net operating loss carryforwards that could be utilized annually to offset future taxable income, if any. This limitation would generally apply in the event of a cumulative change in ownership of the Company of more than 50% within a three-year period. The Company has not performed a study to assess whether an ownership change for purposes of Section 382 has occurred, or whether there have been multiple ownership changes since the Company's inception, due to the significant costs and complexities associated with such study. Risks and Uncertainties: The Company operates in an industry that is subject to rapid technological change, intense competition and significant government regulation. The Company’s operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory and other risk. Such factors include, but are not necessarily limited to, the results of clinical testing and trial activities, the ability to obtain regulatory approval, the ability to obtain favorable licensing, manufacturing or other agreements for its product candidates and the ability to raise capital to achieve strategic objectives. Stock Compensation: The Company accounts for stock-based awards to employees in accordance with applicable accounting principles, which requires compensation expense related to share-based transactions, including employee stock options, to be measured and recognized in the financial statements based on a determination of the fair value of the stock options. The grant date fair value is determined using the Black-Scholes-Merton (“Black-Scholes”) pricing model. Employee stock option expense is recognized over the employee’s requisite service period (generally the vesting period of the equity grant). The Company’s option pricing model requires the input of highly subjective assumptions, including the volatility and expected term. Any changes in these highly subjective assumptions significantly impact stock-based compensation expense. Options awarded to purchase shares of common stock issued to non-employees in exchange for services are accounted for as variable awards in accordance with applicable accounting principles. Such options are revalued using the Black-Scholes option pricing model until the entire award vests.

Collaborative Agreements_

Collaborative Agreements:	9 Months Ended
	Sep. 30, 2018
Collaborative Agreements [Abstract]
Collaborative Agreements [Text Block]	Note 3 – Collaborative Agreements : Stanford License Agreements On May 12, 2014, the Company entered into a license agreement (the “Stanford Agreement”) with The Board of Trustees of The Leland Stanford Junior University (“Stanford”), pursuant to which Stanford has granted to the Company a revenue-bearing, world-wide right and exclusive license, with the right to grant sublicenses (on certain conditions), under certain patent rights and related technology for the use of bryostatin structural derivatives, known as “bryologs,” for use in the treatment of central nervous system disorders, lysosomal storage diseases, stroke, cardio protection and traumatic brain injury, for the life of the licensed patents. We are required by the Stanford Agreement to use commercially reasonable efforts to develop, manufacture and sell products (“Licensed Products”) in the Licensed Field of Use (as defined in the Stanford Agreement). In addition, we must meet specific diligence milestones, and upon meeting such milestones, make specific milestone payments to Stanford. We will also pay Stanford royalties on net sales, if any, of Licensed Products (as defined in the Stanford Agreement). On January 19, 2017, the Company entered into a second license agreement with Stanford, pursuant to which Stanford has granted to the Company a revenue-bearing, world-wide right and exclusive license, with the right to grant sublicenses (on certain conditions), under certain patent rights and related technology for the use of “Bryostatin Compounds and Methods of Preparing the Same,” or synthesized bryostatin, for use in the treatment of neurological diseases, cognitive dysfunction and psychiatric disorders, for the life of the licensed patents. The Company paid Stanford $70,000 upon executing the license and is obligated to pay an additional $10,000 annually as a license maintenance fee. In addition, based upon certain milestones, the Company will be obligated to pay up to an additional $2.1 million and between 1.5% and 4.5% royalty payments on certain revenues generated by the Company relating to the licensed technology. The Company has made all required annual maintenance payments. Mt. Sinai License Agreement On July 14, 2014, Neurotrope BioScience entered into an Exclusive License Agreement (the “Mount Sinai Agreement”) with the Icahn School of Medicine at Mount Sinai (“Mount Sinai”). Pursuant to the Mount Sinai Agreement, Mount Sinai granted Neurotrope BioScience (a) a revenue-bearing, world-wide right and exclusive license, with the right to grant sublicenses (on certain conditions), under Mount Sinai’s interest in certain joint patents held by the Company and Mount Sinai (the “Joint Patents”) as well as in certain results and data (the “Data Package”) and (b) a non-exclusive license, with the right to grant sublicenses on certain conditions, to certain technical information, both relating to the diagnostic, prophylactic or therapeutic use for treating diseases or disorders in humans relying on activation of Protein Kinase C Epsilon (“PKCε”), which includes Niemann-Pick Disease (the “Mount Sinai Field of Use”). The Mount Sinai Agreement allows Neurotrope BioScience to research, discover, develop, make, have made, use, have used, import, lease, sell, have sold and offer certain products, processes or methods that are covered by valid claims of Mount Sinai’s interest in the Joint Patents or an Orphan Drug Designation Application covering the Data Package (“Mount Sinai Licensed Products”) in the Mount Sinai Field of Use (as such terms are defined in the Mount Sinai Agreement). Clinical Trial Services Agreements On May 4, 2018, Neurotrope BioScience executed a new Services Agreement (the “New Services Agreement”) with Worldwide Clinical Trials (“WCT”). The New Services Agreement relates to services for Neurotrope BioScience’s Phase 2 confirmatory clinical study assessing the safety, tolerability and efficacy of bryostatin in the treatment of moderately severe to severe AD (the “Study”). Pursuant to the terms of the Services Agreement, WCT is providing services to target enrollment of approximately one hundred (100) Study subjects. The total estimated budget for the services, including pass-through costs, drug supply and other statistical analyses, is approximately $7.3 million based upon the progress of the Study. Of the total estimated Study costs, as of September 30, 2018, the Company has incurred approximately $2.0 million in expenses of which WCT has been paid a total of approximately $1.8 million and approximately $200,000 has been paid to other trial-related vendors and consultants. Of the $1.8 million paid to WCT, $1.2 million was for prepaid deposits and $600,000 in progress payments. The Company has utilized $400,000 of the prepaid deposits, leaving a balance included in prepaid expenses of approximately $800,000. As of October 29, 2018, the Company is ahead of plan for its current clinical Study, having enrolled 37 patients into the dosing phase. Contracts have been finalized with 28 clinical sites that will participate in the Study. This confirmatory clinical trial will be conducted pursuant to an amendment to the Company’s existing Investigational New Drug Application (“IND”). Also, in connection with the execution of the New Services Agreement, Neurotrope BioScience received consent pursuant to its CRE License Agreement (see Note 4 below). Nemours Agreement On September 5, 2018, the Company announced a collaboration with The Nemours / Alfred I. duPont Hospital for Children (“Nemours”), a premier U.S. children’s hospital, to initiate a clinical trial in children with Fragile X Syndrome (“Fragile X”). The planned protocol for the pilot open-label trial will dose Fragile X patients from 8 to less than 18 years of age, using a dosing regimen similar to that being tested in AD patients. In addition to the primary objective of safety and tolerability, measurements will be made of working memory, language and other functional aspects such as anxiety, repetitive behavior, executive functioning, and social behavior. The total estimated cost of this proposed trial to the Company is approximately $100,000.

Related Party Transactions and

Related Party Transactions and Licensing / Research Agreements:	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 4 – Related Party Transactions and Licensing / Research Agreements : James Gottlieb, a director of the Company, serves as a director of CRE, and Shana Phares, also a director of the Company, serves as President and Chief Executive Officer of CRE. CRE is a stockholder of a corporation, Neuroscience Research Ventures, Inc. (“NRVI”), which owned 3.6% of the Company's outstanding common stock as of September 30, 2018. Effective October 31, 2012, Neurotrope BioScience executed a Technology License and Services Agreement (the “TLSA”) with CRE, a related party, and NRV II, LLC (“NRV II”), another affiliate of CRE, which was amended by Amendment No. 1 to the TLSA as of August 21, 2013. As of February 4, 2015, the parties entered into an Amended and Restated Technology License and Services Agreement (the “CRE License Agreement”). The CRE License Agreement provides research services and has granted Neurotrope BioScience the exclusive and nontransferable world-wide, royalty-bearing right, with a right to sublicense (in accordance with the terms and conditions described below), under CRE’s and NRV II’s respective right, title and interest in and to certain patents and technology owned by CRE or licensed to NRV II by CRE as of or subsequent to October 31, 2012, to develop, use, manufacture, market, offer for sale, sell, distribute, import and export certain products or services for therapeutic applications for AD and other cognitive dysfunctions in humans or animals (the “Field of Use”). Additionally, the TLSA specifies that all patents that issue from a certain patent application shall constitute licensed patents and all trade secrets, know-how and other confidential information claimed by such patents constitute licensed technology under the CRE License. The CRE License Agreement terminates on the later of the date (a) the last of the licensed patent expires, is abandoned, or is declared unenforceable or invalid or (b) the last of the intellectual property enters the public domain. After the initial Series A Stock financing, the CRE License Agreement required Neurotrope BioScience to enter into scope of work agreements with CRE as the preferred service provider for any research and development services or other related scientific assistance and support services. In addition, the CRE License Agreement requires the Company to pay CRE a “Fixed Research Fee” of $1 million per year for five years, commencing on the date that the Company completes a Series B Preferred Stock financing resulting in proceeds of at least $25,000,000 (the “Series B Financing”). This Fixed Research Fee is not yet due. The CRE License Agreement also requires the payment of royalties ranging between 2% and 5% of the Company’s revenues generated from the licensed patents and other intellectual property, dependent upon the percentage ownership that NRVI holds in the Company. Under the CRE License Agreement, the Company was required to prepay royalty fees at a rate of 5% of all investor funds raised in the Series A or Series B Stock financings or any subsequent rounds of financing prior to a public offering, less commissions. On November 12, 2015, Neurotrope BioScience, CRE, and NRV II entered into an amendment (the “Amendment”) to the TLSA pursuant to which CRE granted rights in certain technology to Neurotrope BioScience. Under the Amendment, the “Advances on Future Royalties” section of the TLSA was amended and restated to (i) eliminate the requirement that Neurotrope BioScience pay CRE prepaid royalties equal to five percent (5%) of financing proceeds received by Neurotrope BioScience in any financing prior to a public offering, and (ii) provide that Neurotrope BioScience will deliver to CRE, following each closing pursuant to a certain securities purchase agreement, an amount equal to 2.5% of the Post-PA Fees Proceeds received at such closing. In addition, the Amendment provides that on or prior to December 31, 2016, Neurotrope Bioscience shall deliver to CRE an amount equal to 2.5% of the aggregate Post-PA Fee Proceeds received at the closings. Each payment would constitute an advance royalty payment to CRE and will be offset (with no interest) against the amount of future royalty obligations payable until such time that the amount of such future royalty obligations equals in full the amount of the advance royalty payments made. “Post-PA Fee Proceeds” means the gross proceeds received, less all amounts paid to the placement agent(s), in relation to such gross proceeds. No other expenses of Neurotrope Bioscience shall be subtracted from the gross proceeds to determine the “Post-PA Fee Proceeds.” As of December 31, 2017, the Company has paid its entire obligation of $1,166,666 resulting from this Amendment.

Stock Options_

Stock Options:	9 Months Ended
	Sep. 30, 2018
Stock Options [Member]
Stock Option Note Disclosure [Text Block]	Note 5 – Stock Options : Option Grants The following is a summary of stock option activity under the stock option plans for the nine months ended September 30, 2018: Weighted- Average Weighted- Remaining Aggregate Average Contractual Intrinsic Number of Exercise Term Value Shares Price (Years) (in thousands) Options outstanding at January 1, 2018 1,345,835 $ 20.10 8.8 Options granted 180,000 $ 9.70 Less options forfeited (101,874 ) $ 16.98 Less options expired/cancelled - $ - Less options exercised - $ - Options outstanding at September 30, 2018 1,423,961 $ 19.01 8.3 $ 208.8 Options exercisable at September 30, 2018 862,298 $ 22.33 7.9 $ 120.8 During July 2018, the Company granted stock options to purchase an aggregate of 110,000 shares of the Company’s common stock to the five members of the Company’s newly-formed Scientific Advisory Board. The stock options have exercise prices of $10.19 and $10.23 per share and an expiration date that is ten years from the date of issuance. Options to purchase 90,000 shares of common stock vest in equal installments on the first, second and third anniversary of the date of issuance; options to purchase the remaining 20,000 shares of common stock vest quarterly over a three-year period. As of September 30, 2018, there was approximately $3.6 million of total unrecognized compensation costs related to unvested stock options. These costs are expected to be recognized over a weighted average period of 2.2 years. The Company used the Black-Scholes valuation model to calculate the fair value of stock options. The fair value of stock options issued for the nine months ended September 30, 2018 was estimated at the grant date using the following weighted average assumptions: Dividend yield 0%; Expected term 10 years; Volatility 91.0%; Risk-free interest rate 2.86%; and grant date stock price of $9.70. The weighted average grant date fair value of options granted for the nine months ended September 30, 2018 is $8.48 per share. The total stock option-based compensation recorded as operating expense was $1,675,373 and $682,422 for the nine months ended September 30, 2018 and 2017, respectively.

Common Stock Warrants_

Common Stock Warrants:	9 Months Ended
	Sep. 30, 2018
Warrant [Member]
Stock Option Note Disclosure [Text Block]	Note 6 – Common Stock Warrants : The following is a summary of common stock warrant activity for the nine months ended September 30, 2018: Number of shares Warrants outstanding January 1, 2018 5,115,274 Warrants exercised (13,834 ) Warrants outstanding September 30, 2018 5,101,440 As of September 30, 2018, the Company’s warrants by exercise price were as follows: 147,606 warrants exercisable at $0.32, 382,887 warrants exercisable at $6.40, 3,751,033 warrants exercisable at $12.80 and 819,914 warrants exercisable at $32.00.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 7 – Contingencies Since May 17, 2017, two purported class action lawsuits were commenced in the United States District Court for the Southern District of New York (the “NY Litigation”). On August 10, 2017, the lawsuits were consolidated and Plaintiffs filed their Amended Consolidated Complaint on October 9, 2017. The Amended Consolidated Complaint named as defendants the Company, its former Chief Executive Officer and its co-founder and President/Chief Scientific Officer. The lawsuit alleged violations of the Securities Exchange Act of 1934, as amended, in connection with allegedly false and misleading statements made by the Company in certain press releases and in its Annual Report on Form 10-K relating to the results stemming from our Phase 2 clinical trial for bryostatin. Plaintiffs sought, among other things, damages for purchasers of the Company’s securities between January 7, 2016 and July 18, 2017. On November 21, 2017, the Company and the other named defendants filed a motion to dismiss all of the claims (the “Motion”). On June 4, 2018 the Court granted the Motion and dismissed with prejudice the NY Litigation. Plaintiffs’ time to appeal the Court’s decision expired on July 5, 2018. Additionally, on August 3, 2017 a derivative action was filed against the Company and all members of the Board of Directors at that time. The lawsuit alleged that the Board of Directors breached its fiduciary duty by making misleading statements and omitting information pertaining to the results of the Company’s Phase 2 clinical trials for bryostatin. The Company and the Board of Directors reached an agreement with counsel for the Plaintiff to stay this action pending a decision by the Court in the NY Litigation. On July 24, 2018, after reviewing the decision in the NY Litigation, Plaintiff voluntarily dismissed the derivative action.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies: (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents: The Company considers all highly liquid temporary cash investments with an original maturity of three months or less when purchased to be cash equivalents. At September 30, 2018, the Company’s cash balances exceed the current insured amounts under the Federal Deposit Insurance Corporation.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment: Property and equipment is capitalized and depreciated on a straight line basis over the estimated useful life of the asset, which is deemed to be between three and ten years.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs: All research and development costs, including costs to maintain or expand the Company’s patent portfolio licensed from CRE that do not meet the criteria for capitalization are expensed when incurred. FASB ASC Topic 730 requires companies involved in research and development activities to capitalize non-refundable advance payments for such services pursuant to contractual arrangements because the right to receive those services represents an economic benefit. Such capitalized advances will be expensed when the services occur and the economic benefit is realized. There were no capitalized research and development services at September 30, 2018 and December 31, 2017.
Earnings Per Share, Policy [Policy Text Block]	Loss Per Share: Basic loss per common share amounts are based on weighted average number of common shares outstanding. Diluted loss per share amounts are based on the weighted average number of common shares outstanding, plus the incremental shares that would have been outstanding upon the assumed exercise of all potentially dilutive stock options and warrants subject to anti-dilution limitations. All such potentially dilutive instruments were anti-dilutive as of September 30, 2018 and 2017, which were approximately 6.5 million shares and 5.8 million shares, respectively.
Income Tax, Policy [Policy Text Block]	Income Taxes: Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due and deferred taxes. Deferred taxes are recognized for differences between the basis of assets and liabilities for financial statement and income tax purposes and the tax effects of net operating loss and other carryforwards. The deferred tax assets and liabilities represent the future tax consequences of those differences and carryforwards, which will either be taxable or deductible when the related assets, liabilities or carryforwards are recovered or settled. Deferred tax assets are reduced by a valuation allowance when, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company applies the provisions of FASB ASC 740-10, Accounting for Uncertain Tax Positions , which clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The standard also provides guidance on de-recognition, classification, interest and penalties, and accounting in interim periods, disclosure and transitions. The Company has concluded that there are no significant uncertain tax positions requiring recognition in the accompanying financial statements. The tax period that is subject to examination by major tax jurisdictions is generally three years from the date of filing. Under Section 382 of the Internal Revenue Code of 1986, as amended, changes in the Company's ownership may limit the amount of its net operating loss carryforwards that could be utilized annually to offset future taxable income, if any. This limitation would generally apply in the event of a cumulative change in ownership of the Company of more than 50% within a three-year period. The Company has not performed a study to assess whether an ownership change for purposes of Section 382 has occurred, or whether there have been multiple ownership changes since the Company's inception, due to the significant costs and complexities associated with such study.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Risks and Uncertainties: The Company operates in an industry that is subject to rapid technological change, intense competition and significant government regulation. The Company’s operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory and other risk. Such factors include, but are not necessarily limited to, the results of clinical testing and trial activities, the ability to obtain regulatory approval, the ability to obtain favorable licensing, manufacturing or other agreements for its product candidates and the ability to raise capital to achieve strategic objectives.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock Compensation: The Company accounts for stock-based awards to employees in accordance with applicable accounting principles, which requires compensation expense related to share-based transactions, including employee stock options, to be measured and recognized in the financial statements based on a determination of the fair value of the stock options. The grant date fair value is determined using the Black-Scholes-Merton (“Black-Scholes”) pricing model. Employee stock option expense is recognized over the employee’s requisite service period (generally the vesting period of the equity grant). The Company’s option pricing model requires the input of highly subjective assumptions, including the volatility and expected term. Any changes in these highly subjective assumptions significantly impact stock-based compensation expense. Options awarded to purchase shares of common stock issued to non-employees in exchange for services are accounted for as variable awards in accordance with applicable accounting principles. Such options are revalued using the Black-Scholes option pricing model until the entire award vests.

Stock Options_ (Tables)

Stock Options: (Tables)	9 Months Ended
	Sep. 30, 2018
Stock Options [Member]
Share-based Compensation, Stock Options, Activity [Table Text Block]	The following is a summary of stock option activity under the stock option plans for the nine months ended September 30, 2018: Weighted- Average Weighted- Remaining Aggregate Average Contractual Intrinsic Number of Exercise Term Value Shares Price (Years) (in thousands) Options outstanding at January 1, 2018 1,345,835 $ 20.10 8.8 Options granted 180,000 $ 9.70 Less options forfeited (101,874 ) $ 16.98 Less options expired/cancelled - $ - Less options exercised - $ - Options outstanding at September 30, 2018 1,423,961 $ 19.01 8.3 $ 208.8 Options exercisable at September 30, 2018 862,298 $ 22.33 7.9 $ 120.8

Common Stock Warrants_ (Tables)

Common Stock Warrants: (Tables)	9 Months Ended
	Sep. 30, 2018
Warrant [Member]
Share-based Compensation, Stock Options, Activity [Table Text Block]	The following is a summary of common stock warrant activity for the nine months ended September 30, 2018: Number of shares Warrants outstanding January 1, 2018 5,115,274 Warrants exercised (13,834 ) Warrants outstanding September 30, 2018 5,101,440

Organization and Nature of Pl_2

Organization and Nature of Planned Business: (Details Textual) - Subsequent Event [Member] $ in Millions	1 Months Ended
	Oct. 28, 2018USD ($)
Cash, Cash Equivalents, and Short-term Investments	$ 9.5
Clinical Study [Member]
Development Costs, Period Cost	7.3
General Corporate And Working Capital [Member]
Development Costs, Period Cost	4.2
Clinical Trial [Member]
Development Costs, Period Cost	$ 5.3

Summary of Significant Accoun_3

Summary of Significant Accounting Policies: (Details Textual) - shares shares in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Summary Of Significant Accounting Policies [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6.5	5.8
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years

Collaborative Agreements_ (Deta

Collaborative Agreements: (Details Textual) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Sep. 30, 2018	Jan. 19, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 05, 2018	May 04, 2018	Dec. 31, 2017
Collaborative Agreements [Line Items]
Annual License Maintenance Fee		$ 10,000
Commitment To Pay Fees		2,100,000
Estimated Budget For Services								$ 7,300,000
Prepaid Expense, Current	$ 1,231,906		$ 1,231,906		$ 1,231,906				$ 310,437
Operating Expenses			3,202,752	$ 2,316,612	7,369,337	$ 8,370,510
Service [Member]
Collaborative Agreements [Line Items]
Operating Expenses	2,000,000
License [Member]
Collaborative Agreements [Line Items]
Cost of Goods and Services Sold		$ 70,000
Worldwide Clinical Trials [Member]
Collaborative Agreements [Line Items]
Payments for Advance to Affiliate	1,800,000
Prepaid Expense, Current	800,000		800,000		800,000
Progress Payments	600,000		600,000		600,000
Prepaid Deposits	1,200,000		1,200,000		1,200,000
Ulitilization Of Prepaid Deposits	400,000		$ 400,000		$ 400,000
Other Trial Related Vendor [Member]
Collaborative Agreements [Line Items]
Payments for Advance to Affiliate	$ 200,000
Nemours [Member]
Collaborative Agreements [Line Items]
Estimated Budget for the Service							$ 100,000
Minimum [Member]
Collaborative Agreements [Line Items]
Royalty Payment Percentage		1.50%
Maximum [Member]
Collaborative Agreements [Line Items]
Royalty Payment Percentage		4.50%

Related Party Transactions an_2

Related Party Transactions and Licensing / Research Agreements: (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Nov. 12, 2015	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Research and Development Expense, Total		$ 1,674,387	$ 744,618	$ 2,450,566	$ 3,662,589
Payments for Royalties						$ 1,166,666
Blanchette Rockefeller Neurosciences Institute [Member]
Related Party Transaction [Line Items]
Royalties Percentage	5.00%
Post PA Fee Proceeds Percent	2.50%
Fixed Research Fee [Member]
Related Party Transaction [Line Items]
Research and Development Expense, Total				$ 1,000,000
Services Reimbursement [Member]
Related Party Transaction [Line Items]
Royalties Percentage				5.00%
Services Reimbursement [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Royalties Percentage				2.00%
Services Reimbursement [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Royalties Percentage				5.00%
Series B Preferred Stock [Member] | Fixed Research Fee [Member]
Related Party Transaction [Line Items]
Proceeds from Issuance of Preferred Stock and Preference Stock				$ 25,000,000
President [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage		3.60%		3.60%

Stock Options_ (Details)

Stock Options: (Details) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding		1,345,835
Number of Shares, Options granted	110,000	180,000
Number of Shares, Less options forfeited		(101,874)
Number of Shares, Less options expired/cancelled		0
Number of Shares, Less options exercised		0
Number of Shares, Outstanding		1,423,961	1,345,835
Number of Shares, Options exercisable		862,298
Weighted-Average Exercise Price, Outstanding		$ 20.10
Weighted-Average Exercise Price, Options granted		9.70
Weighted-Average Exercise Price, Less options forfeited		16.98
Weighted-Average Exercise Price, Options, Less options expired/cancelled		0
Weighted-Average Exercise Price, Options exercised		0
Weighted-Average Exercise Price, Outstanding		19.01	$ 20.10
Weighted-Average Exercise Price, Options exercisable		$ 22.33
Weighted-Average Remaining Contractual Term, Outstanding (in years)		8 years 3 months 18 days	8 years 9 months 18 days
Weighted-Average Remaining Contractual Term, Exercisable (in years)		7 years 10 months 24 days
Aggregate Intrinsic Value, Outstanding		$ 208,800
Aggregate Intrinsic Value, Exercisable		$ 120,800

Stock Options_ (Details Textual

Stock Options: (Details Textual) - USD ($)	1 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate		0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate		91.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate		2.86%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 8.48
Employee Benefits and Share-based Compensation		$ 1,675,373	$ 682,422
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options		$ 3,600,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		2 years 2 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term		10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	110,000	180,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price		$ 19.01		$ 20.10
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 9.70
Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	90,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 10.19
Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	20,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 10.23
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years

Common Stock Warrants_ (Details

Common Stock Warrants: (Details)	9 Months Ended
	Sep. 30, 2018shares
Warrants outstanding January 1, 2018	5,115,274
Warrants exercised	(13,834)
Warrants outstanding September 30, 2018	5,101,440

Common Stock Warrants_ (Detai_2

Common Stock Warrants: (Details Textual)	Sep. 30, 2018$ / sharesshares
Exercise Price 0.32 [Member]
Class of Warrant or Right, Outstanding | shares	147,606
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 0.32
Exercise Price 6.40 [Member]
Class of Warrant or Right, Outstanding | shares	382,887
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 6.40
Exercise Price 12.80 [Member]
Class of Warrant or Right, Outstanding | shares	3,751,033
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 12.80
Exercise Price 32.00 [Member]
Class of Warrant or Right, Outstanding | shares	819,914
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 32