CohBar (CWBR) 10-K 12 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 09, 2020	Jun. 30, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	CohBar, Inc.
Entity Central Index Key	0001522602
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	DE
Entity File Number	001-38326
Entity Public Float			$ 49,643,648
Entity Common Stock, Shares Outstanding		43,141,399

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 12,563,853	$ 5,722,342
Investments		16,460,426
Prepaid expenses and other current assets	361,311	260,630
Total current assets	12,925,164	22,443,398
Property and equipment, net	523,677	520,740
Intangible assets, net	19,154	20,233
Other assets	64,242	56,793
Total assets	13,532,237	23,041,164
Current liabilities:
Accounts payable	444,776	1,142,735
Accrued liabilities	916,692	351,813
Accrued payroll and other compensation	677,755	667,661
Total current liabilities	2,039,223	2,162,209
Notes payable, net of debt discount and offering costs of $546,312 and $986,163 as of December 31, 2019 and 2018, respectively	3,356,188	2,916,337
Total liabilities	5,395,411	5,078,546
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value, Authorized 5,000,000 shares; No shares issued and outstanding as of December 31, 2019 and 2018, respectively
Common stock, $0.001 par value, Authorized 75,000,000 shares; Issued and outstanding 43,069,418 shares as of December 31, 2019 and 42,578,208 as of December 31, 2018	43,069	42,578
Additional paid-in capital	61,087,082	57,868,593
Accumulated deficit	(52,993,325)	(39,948,553)
Total stockholders' equity	8,136,826	17,962,618
Total liabilities and stockholders' equity	$ 13,532,237	$ 23,041,164

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Debt discount of note payable and offering costs, current	$ 546,312	$ 986,163
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued
Preferred stock, outstanding
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	75,000,000	75,000,000
Common stock, issued	43,069,418	42,578,208
Common stock, outstanding	43,069,418	42,578,208

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenues
Operating expenses:
Research and development	6,631,928	10,034,613
General and administrative	5,951,106	5,299,717
Total operating expenses	12,583,034	15,334,330
Operating loss	(12,583,034)	(15,334,330)
Other income (expense):
Interest income	290,313	185,614
Interest expense	(312,200)	(231,999)
Amortization of debt discount and offering costs	(439,851)	(325,150)
Total other expense	(461,738)	(371,535)
Net loss	$ (13,044,772)	$ (15,705,865)
Basic and diluted net loss per share	$ (0.3)	$ (0.38)
Weighted average common shares outstanding - basic and diluted	42,816,616	41,254,411

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity - USD ($)	Common Stock	APIC	Accumulated Deficit	Total
Beginning balance at Dec. 31, 2017	$ 39,440	$ 31,822,161	$ (24,242,688)	$ 7,618,913
Beginning balance, shares at Dec. 31, 2017	39,439,505
Stock-based compensation		4,318,993		4,318,993
Issuance of common stock	$ 2,187	19,397,672		19,399,859
Issuance of common stock, shares	2,186,855
Offering costs		(95,778)		(95,778)
Debt Discount on notes		1,253,390		1,253,390
Exercise of employee stock options	$ 602	494,264		494,866
Exercise of employee stock options, shares	602,533
Exercise of warrants	$ 349	677,891		678,240
Exercise of warrants, shares	349,315
Net loss			(15,705,865)	(15,705,865)
Ending balance at Dec. 31, 2018	$ 42,578	57,868,593	(39,948,553)	17,962,618
Beginning balance, shares at Dec. 31, 2018	42,578,208
Stock-based compensation		2,609,370		2,609,370
Exercise of employee stock options	$ 441	551,669		552,110
Exercise of employee stock options, shares	441,210
Exercise of warrants	$ 50	57,450		57,500
Exercise of warrants, shares	50,000
Net loss			(13,044,772)	(13,044,772)
Ending balance at Dec. 31, 2019	$ 43,069	$ 61,087,082	$ (52,993,325)	$ 8,136,826
Beginning balance, shares at Dec. 31, 2019	43,069,418

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (13,044,772)	$ (15,705,865)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	147,687	79,128
Loss on disposal of property and equipment		1,084
Stock-based compensation	2,609,370	4,318,993
Amortization of debt discount	420,341	311,125
Amortization of debt issuance costs	19,510	14,025
Discount on investments	(34,574)	29,583
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(100,681)	(96,356)
Accounts payable	(697,959)	650,720
Accrued liabilities	564,879	102,655
Accrued payroll and other compensation	10,094	164,528
Net cash used in operating activities	(10,106,105)	(10,130,380)
Cash flows from investing activities:
Purchases of property and equipment	(149,545)	(423,342)
Patent costs		1,739
Payment for security deposit	(7,449)	(9,889)
Purchases of investments	(40,348,000)	(41,402,000)
Proceeds from redemptions of investments	56,843,000	30,541,000
Net cash provided by (used in) investing activities	16,338,006	(11,292,492)
Cash flows from financing activities:
Proceeds from notes payable		3,902,500
Debt issuance costs		(57,923)
Proceeds from the Controlled Equity Offering, net		19,304,081
Proceeds from exercise of warrants	57,500	678,240
Proceeds from exercise of employee stock options	552,110	494,866
Net cash provided by financing activities	609,610	24,321,764
Net increase in cash and cash equivalents	6,841,511	2,898,892
Cash and cash equivalents at beginning of period	5,722,342	2,823,450
Cash and cash equivalents at end of period	12,563,853	5,722,342
Non-cash investing and financing activities:
Warrants issued in connection with note payable		1,253,390
Supplemental disclosure of cash flow information:
Cash paid for income taxes	$ 1,300	$ 1,508

Business Organization and Natur

Business Organization and Nature of Operations	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS ORGANIZATION AND NATURE OF OPERATIONS	Note 1 - Business Organization and Nature of Operations CohBar, Inc. ("CohBar," "its" or the "Company") is a clinical stage biotechnology company focused on the research and development of mitochondria based therapeutics (MBTs), an emerging class of drugs for the treatment of chronic and age-related diseases including nonalcoholic steatohepatitis (NASH), obesity, cancer, fibrotic diseases such as IPF, T2D, cardiovascular and neurodegenerative diseases. The Company's primary activities include the research and development of its MBT pipeline, securing intellectual property protection for its discoveries and assets, managing collaborations with contract research organizations ("CROs") and academic institutions and raising capital. To date, the Company has not generated any revenues from operations and does not expect to generate any revenues in the near future. The Company has financed its operations primarily with proceeds from sales of its equity securities, private placements, the exercise of outstanding warrants and stock options and the issuance of debt instruments.

Liquidity and Management's Plan

Liquidity and Management's Plans	12 Months Ended
	Dec. 31, 2019
Liquidity and Management's Plans [Abstract]
LIQUIDITY AND MANAGEMENT'S PLANS	Note 2 - Liquidity and Management's Plans As of December 31, 2019, the Company had a cash and cash equivalents balance of $12,563,853 and working capital and stockholders' equity of $10,885,941 and $8,136,826 respectively. During the year ended December 31, 2019, the Company incurred a net loss of $13,044,772. The Company has not generated any revenues, has incurred net losses since inception and does not expect to generate revenues in the near term. Factors such as these and the Company's projected cash burn raised substantial doubt about its ability to continue as a going concern for at least one year from the issuance of these financial statements. However, management has substantial latitude as to the timing and amount of the expenses it incurs, and such latitude and control of those expenditures alleviated the substantial doubt. Management believes, due in part to such latitude and control, that it has sufficient capital to meet its operating expenses and obligations for the next twelve months from the date of this filing. However, if unanticipated difficulties or circumstances arise, the Company may require additional capital sooner to support its operations. If the Company is unable to raise additional capital whenever necessary, it may be forced to decelerate or curtail its research and development activities and/or other operations until such time as additional capital becomes available. Such limitation of the Company's activities would allow it to slow its rate of spending and extend its use of cash until additional capital is raised. There can be no assurance that such a plan would be successful. There is no assurance that additional financing will be available when needed or that the Company will be able to obtain such financing on reasonable terms.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Note 3 - Summary of Significant Accounting Policies Basis of Presentation All amounts are presented in U.S. Dollars. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at dates of the financial statements and the reported amounts of revenue and expenses during the periods. Actual results could differ from these estimates. The Company's significant estimates and assumptions include the fair value of financial instruments, stock-based compensation and the valuation allowance relating to the Company's deferred tax assets. Concentrations of Credit Risk The Company maintains deposits in a financial institution which is insured by the Federal Deposit Insurance Corporation ("FDIC"). At various times, the Company has deposits in this financial institution in excess of the amount insured by the FDIC. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk. Investments Investments as of December 2019 and 2018 consist of U.S. Treasury Bills, which are classified as held-to-maturity, and Certificates of Deposit totaling $0 and $16,460,426, respectively. The Company determines the appropriate balance sheet classification of its investments at the time of purchase and evaluates the classification at each balance sheet date. All of the Company's U.S. Treasury Bills matured within the subsequent twelve months from the date of purchase. Unrealized gains and losses were de minimus Capitalization of Patent Costs The Company capitalizes the costs of its patents which consists of legal and filing fees related to the prosecution of patent filings. The patents will be amortized using the straight-line method over the estimated remaining lives of the patents which is 20 years from the initial filing of the patent. Amortization for each of the years ended December 31, 2019 and 2018 was $1,079. Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2019, the Company invested $9,505,777 in Treasury Bills that are considered cash equivalents due to their maturity date being less than three months from the date of purchase. As of December 31, 2018, the Company did not have any cash equivalents. Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation. Depreciation of computer and lab equipment is computed by use of the straight-line method based on the estimated useful lives of the assets, which range from three to five years. Expenditures for maintenance and repairs that do not improve or extend the expected lives of the assets are expensed to operations, while expenditures for major upgrades to existing items are capitalized. Upon retirement or other disposition of these assets, the costs and accumulated depreciation are removed from the accounts and resulting gains or losses are reflected in the results of operations. Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company utilizes three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 - inputs that are unobservable (for example, cash flow modeling inputs based on assumptions) The carrying amounts of cash, investments and accounts payable approximate fair value due to the short-term nature of these instruments. The amount of debt included in the accompanying balance sheets approximates its fair value because the interest rate of the notes approximates the current market interest rate. Common Stock Purchase Warrants The Company classifies as equity any contracts that (i) require physical settlement or net-share settlement or (ii) provides the Company with a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement) providing that such contracts are indexed to the Company's own stock. The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the Company's control), or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement). The Company assesses classification of its common stock purchase warrants and other free-standing derivatives at each reporting date to determine whether a change in classification between assets, liabilities and equity is required. The Company's free-standing derivatives consist of warrants to purchase common stock that were issued in connection with its notes payable and private offering. The Company evaluated these warrants to assess their proper classification using the applicable criteria enumerated under U.S. GAAP and determined that the common stock purchase warrants meet the criteria for equity classification in the accompanying balance sheets as of December 31, 2019 and 2018. Income Taxes The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of items that have been included or excluded in the financial statements or tax returns. Deferred tax assets and liabilities are determined on the basis of the difference between the tax basis of assets and liabilities and their respective financial reporting amounts ("temporary differences") at enacted tax rates in effect for the years in which the temporary differences are expected to reverse. The benefit of tax positions taken or expected to be taken in income tax returns are recognized in the financial statements if such positions are more likely than not of being sustained. Management has evaluated and concluded that there were no material uncertain tax positions requiring recognition in the Company's financial statements as of December 31, 2019 and 2018. The Company does not expect any significant changes in the unrecognized tax benefits within twelve months of the reporting date. The Company classifies interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. No interest or penalties have been recognized during the years ended December 31, 2019 and 2018. Research and Development Expenses The Company expenses all research and development expenses as incurred. These costs include payroll, employee benefits, supplies, contracted for lab services, depreciation and other personnel-related costs associated with product development. Share-Based Payment The Company accounts for share-based payments using the fair value method. For employees and directors, the fair value of the award is measured, as discussed below, on the grant date. For non-employees, fair value is generally valued based on the fair value of the services provided or the fair value of the equity instruments on the measurement date, whichever is more readily determinable. The Company has granted stock options at exercise prices equal to the closing price of the Company's common stock as reported by Nasdaq, with input from management on the date of grant. Upon exercise of an option or warrant, the Company issues new shares of common stock out of its authorized shares. The weighted-average fair value of options and warrants has been estimated on the grant date or measurement date using the Black-Scholes pricing model. The fair value of each instrument is estimated on the grant date or measurement date utilizing certain assumptions for a risk-free interest rate, volatility and expected remaining lives of the awards. The risk-free interest rate used is the United States Treasury rate for the day of the grant having a term equal to the life of the equity instrument. Beginning with the first quarter of the year ending 2019, the fair value of stock-based payment awards issued was estimated using a volatility derived from the Company's share price. Prior to the first quarter of the year ending 2019, the Company had a limited history of being publicly traded and estimated the fair value of stock-based payment awards using a volatility derived from an index of comparable entities. The assumptions used in calculating the fair value of share-based payment awards represent management's best estimates, but these estimates involve inherent uncertainties and the application of management judgment. As a result, if factors change and the Company uses different assumptions, the Company's stock-based compensation expense could be materially different in the future. The weighted-average Black-Scholes assumptions are as follows: For the Years Ended December 31, 2019 2018 Expected life 6 years 4 years Risk free interest rate 2.18 % 2.62 % Expected volatility 77 % 84 % Expected dividend yield 0 % 0 % As of December 31, 2019, total unrecognized stock compensation expense was $4,972,057, which will be recognized as those options vest over a period of approximately four years. The amount of future stock option compensation expense could be affected by any future option grants or by any option holders leaving the Company before their grants are fully vested. Warrants Issued in 2018 Notes Payable Offering In connection with the Notes Payable issued in March and April 2018, the Company issued warrants to purchase 780,500 shares of its common stock (see Note 7 - Notes Payable). These warrants are exercisable at an exercise price of $5.30 per share. The Company evaluated the terms of these warrants and concluded that they should be treated as Equity. The fair value of the warrants was $1,253,390 and was recorded as a debt discount offsetting the carrying value of the notes in the accompanying balance sheets. Net Loss Per Share of Common Stock Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net earnings per share reflects the potential dilution that could occur if securities or other instruments to issue common stock were exercised or converted into common stock. Potentially dilutive securities are excluded from the computation of diluted net loss per share as their inclusion would be anti-dilutive and consist of the following: As of December 31, 2019 2018 Options 7,632,358 5,488,282 Warrants 4,907,223 4,964,205 Totals 12,539,581 10,452,487 Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases ("ASU 2016-02"). ASU 2016-02 requires lessees to recognize most leases on their balance sheet as a right-of-use asset and a lease liability. Leases are classified as either operating or finance, and classification is based on criteria similar to current lease accounting. In July 2018, the FASB issued ASU No. 2018-10, "Codification Improvements to Topic 842, Leases" ("ASU 2018-10"), which amends 2016-02 on how to apply certain aspects of the new lease standard, and ASU No. 2018-11, "Leases (Topic 842) – Targeted Improvements" (ASU 2018-11), which addresses implementation issues. The guidance is effective for annual reporting periods beginning after December 15, 2018 and interim periods within those fiscal years, and early adoption is permitted. ASU 2016-02, ASU-2018-10 and ASU 2018-11 did not have a material impact on the Company's financial statements upon adoption. In June 2018, the FASB issued ASU No. 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting ( ) Revenue from Contracts with Customers In July 2018, the FASB issued ASU No. 2018-09, "Codification Improvements" ("ASU 2018-09"). These amendments provide clarifications and corrections to certain ASC subtopics including, but not limited to, the following: Income Statement - Reporting Comprehensive Income – Overall Debt - Modifications and Extinguishments Distinguishing Liabilities from Equity – Overall Compensation - Stock Compensation - Income Taxes Fair Value Measurement – Overall

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	Note 4 - Property and Equipment Property and equipment consist of the following: As of December 31, 2019 2018 Lab equipment $ 839,802 $ 727,450 Computer and equipment 60,384 23,191 Total property and equipment $ 900,186 $ 750,641 Less: accumulated depreciation (376,509 ) (229,901 ) Total property and equipment, net $ 523,677 $ 520,740 Depreciation expense related to property and equipment for the years ended December 31, 2019 and 2018 was $147,441 and $78,049, respectively. During the year ended December 31, 2019, the Company wrote off fully depreciated assets and adjusted the carrying value of the assets and accumulated depreciation by $833, respectively.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	Note 5 - Intangible Assets Intangible assets consist of the following: As of December 31, 2019 2018 Intangible assets: patents $ 21,604 $ 21,604 Less: amortization (2,450 ) (1,371 ) Total intangible assets, net $ 19,154 $ 20,233 Amortization expense for each of the years ended December 31, 2019 and 2018 was $1,079. The Company will recognize intangible amortization expense of $1,079 in each of the next five years. Thereafter, amortization expense will total $13,759.

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2019
Payables and Accruals [Abstract]
ACCRUED LIABILITIES	Note 6 - Accrued Liabilities Accrued liabilities consist of the following: As of December 31, 2019 2018 Lab services & supplies $ 131,176 $ 7,786 Professional fees 57,912 106,478 Consultant fees 3,750 3,750 Interest 544,199 231,999 Other 179,655 1,800 Total accrued liabilities $ 916,692 $ 351,813

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
NOTES PAYABLE	Note 7 - Notes Payable During the year ended December 31, 2018, the Company entered into Note and Warrant Purchase Agreements (the "Purchase Agreements") with certain accredited investors (the "Investors") pursuant to which the Company issued to the Investors $3,902,500 aggregate principal amount of its 8% Unsecured Promissory Notes due in March 2021 (the "Notes"). The Notes were issued together with warrants to purchase up to an aggregate of 780,500 shares of the Company's common stock at an exercise price of $5.30 per share. Notes in the aggregate amount of $532,500 were purchased by officers and directors of the Company. The warrants are exercisable any time prior to March 29, 2021. The Company determined the fair value of the warrants issued using the Black-Scholes pricing model with the following assumptions: For The Year Ended December 31, 2018 Expected life 3 years Risk free interest rate 2.39% - 2.51% Expected volatility 68.85% - 68.89% Expected dividend yield 0% Forfeiture rate 0% The fair value of the warrants was $1,253,390 and was recorded as a debt discount. The Company also incurred offering costs of $57,923 to issue the debt. Both the debt discount and offering costs the Company incurred offset the carrying value of the Notes in the accompanying balance sheets. The Company amortized $439,851 and $325,150 during the twelve months ended December 31, 2019 and 2018, respectively, of the debt discount and issuance costs leaving a net Notes payable balance at December 31, 2019 and 2018 of $3,356,188 and $2,916,337, respectively. The Company uses the straight-line method which approximates the interest method for the amortization of the debt discount and issuance costs. As of December 31, 2019 and 2018, the Company recorded accumulated amortization of $765,001 and $325,150, respectively, for the debt discount and offering costs.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Note 8 - Commitments and Contingencies Litigations, Claims and Assessments The Company may from time to time be a party to litigation and subject to claims incident to the ordinary course of business. As the Company grows and gains prominence in the marketplace it may become a party to an increasing number of litigation matters and claims. The outcome of litigation and claims cannot be predicted with certainty, and the resolution of these matters could materially affect the Company's future results of operations, cash flows or financial position. The Company is not currently a party to any legal proceedings. Licensing Agreements The Company is a party to an Exclusive License Agreement (the "2011 Exclusive Agreement") with the Regents of the University of California ("the Regents" or "Licensors") which remains in effect for the life of the last-to-expire patent or last to be abandoned patent application, whichever is later. The Company agreed to pay the Licensors specified development milestone payments aggregating up to $765,000 for the first product sold under the license. Milestone payments for additional products developed and sold under the license are reduced by 50%. The Company is also required to pay annual maintenance fees to the Licensors. Aggregate maintenance fees for the first five years following execution of the agreement were $80,000. Thereafter, the Company is required to pay maintenance fees of $50,000 annually until the first sale of a licensed product. In addition, for the duration of the 2011 Exclusive Agreement, the Company is required to pay the Licensors royalties equal to 2% of its worldwide net sales of drugs, therapies or other products developed from claims covered by the licensed patents, subject to a minimum royalty payment of $75,000 annually, beginning after the first commercial sale of a licensed product. The Company is required to pay royalties ranging from 8% of worldwide sublicense sales of covered products (if the sublicense is entered after commencement of phase II clinical trials) to 12% of worldwide sublicense sales (if the sublicense is entered prior to commencement of phase I clinical trials). The agreement also requires the Company to meet certain diligence and development milestones, including filing of an Investigational New Drug ("IND") Application for a product covered by the agreement on or before the seventh anniversary of the agreement date. In October 2019, the Regents accepted the Company's payment for an additional year of license maintenance. Through December 31, 2019, no royalties have been incurred under the agreement. All maintenance fees due and payable have been paid. The Company is also a party to an Exclusive License Agreement (the "2013 Exclusive Agreement") with the Regents whereby the Regents granted to the Company an exclusive license for the use of certain other patents. The 2013 Exclusive Agreement remains in effect for the life of the last-to-expire patent or last to be abandoned patent application, whichever is later. The Company paid the Regents an initial license issue fee of $10,000 for these other patents, which was charged to General and Administrative expense, as incurred. The Company is also required to pay annual maintenance fees to the Licensors. Aggregate maintenance fees for the first three years following execution of the agreement were $7,500. Thereafter, the Company is required to pay maintenance fees of $5,000 annually until the first sale of a licensed product. The Company agreed to pay the Regents specified development milestone payments aggregating up to $765,000 for the first product sold under the 2013 Exclusive Agreement. Milestone payments for additional products developed and sold under the 2013 Exclusive Agreement are reduced by 50%. In addition, for the duration of the 2013 Exclusive Agreement, the Company is required to pay the Regents royalties equal to 2% of the Company's worldwide net sales of drugs, therapies or other products developed from claims covered by the licensed patent, subject to a minimum royalty payment of $75,000 annually, beginning after the first commercial sale of a licensed product. The Company is required to pay the Regents royalties ranging from 8% of worldwide sublicense sales of covered products (if the sublicense is entered after commencement of phase II clinical trials) to 12% of worldwide sublicense sales (if the sublicense is entered prior to commencement of phase I clinical trials). The agreement also requires the Company to meet certain diligence and development milestones, including filing of an IND Application for a product covered by the agreement on or before the seventh anniversary of the agreement date. Through December 31, 2019, no royalties have been incurred under the agreement. All maintenance fees due and payable have been paid. Operating Leases The Company is a party to a lease agreement for laboratory space leased on a month-to-month basis that is part of a shared facility in Menlo Park, California. In September 2019, the Company renewed its lease for office space in Fairfield, New Jersey for an additional year at the same annual cost of $13,080 per annum. Rent expense amounted to $350,979 and $298,972 for the years ended December 31, 2019 and 2018, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	Note 9 - Income Taxes The tax effects of temporary differences that give rise to deferred tax assets are as follows: As of December 31, 2019 2018 Current Accrued expenses $ 223,712 $ 168,068 Stock compensation 838,753 632,254 Net operating loss carryforward 11,978,595 8,949,957 Research and development credit carry forward 367,261 488,942 Total deferred tax assets 13,408,321 10,239,221 Valuation allowance (13,408,321 ) (10,239,221 ) Deferred tax asset, net of valuation allowance $ - $ - A reconciliation of the statutory federal income tax rate to the Company's effective tax rate is as follows: For the Years Ended December 31, 2019 2018 U.S. statutory federal rate (21.0 )% (21.0 )% State income taxes, net of federal tax (7.0 )% (7.0 )% Federal tax rate change - % - % Permanent differences 3.0 % 5.4 % Prior year true-ups 0.3 % 0.2 % R&D tax credit (0.7 )% (0.5 )% Change in valuation allowance 25.4 % 22.9 % Income tax provision (benefit) - % - % The income tax provision consists of the following: For the Years Ended December 31, 2019 2018 Federal Current $ - $ - Deferred (2,378,218 ) (2,837,776 ) State and local Current - - Deferred (790,882 ) (943,709 ) Change in valuation allowance 3,169,100 3,781,485 Income tax provision (benefit) $ - $ - The Company assesses the likelihood that deferred tax assets will be realized. To the extent that realization is not more-likely-than-not, a valuation allowance is established. Based upon the Company's losses since inception, management believes that it is more-likely-than-not that future benefits of deferred tax assets will not be realized. Therefore, the Company established a full valuation allowance as of December 31, 2019 and 2018. As of December 31, 2019 and 2018, the change in valuation allowance was $3,169,100 and $3,781,485, respectively. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions, principally California and New Jersey. The Company is subject to examination by the various taxing authorities. The Company's federal and state income tax returns for tax years beginning in 2014 remain subject to examination. At December 31, 2019 and 2018, the Company had approximately $43,000,000 and $32,000,000, respectively, of federal and state net operating loss carryovers that may be available to offset future taxable income. The Company's 2017 and prior federal and state net operating loss carry forwards, if not utilized, will begin to expire from 2029 to 2038. Beginning with 2018, and for subsequent years, the Company's NOLs will have indefinite lives for federal tax purposes. In accordance with Section 382 of the Internal Revenue Code, the usage of the Company's net operating loss carryforward could be limited in the event of a change in ownership. At this time, the Company has not completed a full study to assess whether an ownership change under Section 382 of the Code occurred due to the costs and complexities associated with such a study.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 10 - Stockholders' Equity Authorized Capital The Company has authorized the issuance and sale of up to 80,000,000 shares of stock, consisting of 75,000,000 shares of common stock having a par value of $0.001 and 5,000,000 shares of Preferred Stock having a par value of $0.001 per share. As of December 31, 2019 and 2018, there were no shares of Preferred Stock outstanding and there were no declared but unpaid dividends or undeclared dividend arrearages on any shares of the Company's capital stock. Controlled Equity Offering During the year ended December 31, 2018, the Company entered into a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. as sales agent. The Company issued 2,186,855 shares of its common stock under the Controlled Equity Offering program for proceeds of $19,304,081, net of commissions and professional fees of $95,778. Stock Options The Company has an incentive stock plan, the Amended and Restated 2011 Equity Incentive Plan, as amended (the "2011 Plan"), and has granted stock options to employees, non-employee directors and consultants from the 2011 Plan. Options granted under the 2011 Plan may be Incentive Stock Options or Non-statutory Stock Options, as determined by the Administrator at the time of grant. On June 19, 2018, the Company's stockholders approved an amendment to the 2011 Plan previously adopted by the Company's board of directors on April 20, 2018 (the "2018 Amendment"). The 2018 Amendment increased the number of shares authorized for issuance under the 2011 Plan to a total of 10,000,000. As of December 31, 2019, there were 1,190,566 shares remaining available for issuance under the 2011 Plan. During the year ended December 31, 2019, the Company granted stock options to employees to purchase 2,779,000 shares of the Company's common stock at exercise prices that ranged between $1.43 to $3.15 per share. The options have terms of ten years. The stock options have an aggregate grant date fair value of $3,471,351. During the year ended December 31, 2019, 441,210 stock options were exercised for cash proceeds of $552,110 and the Company cancelled 193,714 stock options. During the year ended December 31, 2018, the Company granted stock options to employees to purchase 860,000 shares of the Company's common stock at exercise prices that ranged between $3.57 to $8.86 per share. The options have terms of ten years. The stock options have an aggregate grant date fair value of $3,337,752. Due to the commencement of the clinical study during the quarter ended September 30, 2018, stock options to purchase 726,000 shares of the Company's common stock granted to its employees in January 2017 met the performance conditions applicable to such options and began vesting. Upon certification of achievement of the performance condition by the compensation committee of the Company's board of directors on July 18, 2018, 50% of the options became vested. The remaining shares subject to the stock options will vest over a period of 24 months subject to the continuous service of the applicable optionee. The stock options have an exercise price of $2.40 and an aggregate grant date fair value of $2,759,453. During the year ended December 31, 2018, 602,533 stock options were exercised for cash proceeds of $494,866 and the Company cancelled 460,599 stock options. The Company recorded stock-based compensation as follows: For the Years Ended 2019 2018 Research and development $ 915,075 $ 2,583,251 General and administrative 1,694,295 1,735,742 Total $ 2,609,370 $ 4,318,993 The following table represents stock option activity for the years ended December 31, 2019 and 2018: Weighted Average Stock Options Exercise Price Fair Value Contractual Aggregate Outstanding Exercisable Outstanding Exercisable Vested Life (Years) Intrinsic Value Balance – December 31, 2017 5,691,414 3,124,941 $ 1.16 $ 0.73 $ 0.73 6.87 $ - Granted 860,000 - - - - - - Exercised (602,533 ) - - - - - - Cancelled (460,599 ) - - - - - - Balance – December 31, 2018 5,488,282 4,384,294 $ 2.10 $ 1.32 $ 1.32 5.80 $ - Granted 2,779,000 - - - - - - Exercised (441,210 ) - - - - - - Cancelled (193,714 ) - - - - - - Balance – December 31, 2019 7,632,358 4,542,144 $ 2.21 $ 1.57 $ 1.57 6.44 $ 2,364,422 The following table summarizes information on stock options outstanding and exercisable as of December 31, 2019: Grant Price Weighted Average Total Number Weighted Average From To Exercise Price Outstanding Exercisable Term $ 0.05 $ 2.02 $ 0.89 3,290,357 3,086,190 4.32 years $ 2.40 $ 4.60 $ 2.47 3,649,001 998,021 8.64 years $ 5.30 $ 8.86 $ 6.62 693,000 457,933 8.36 years Totals 7,632,358 4,542,144 Warrants During the year ended December 31, 2019, warrants to purchase 50,000 shares of the Company's common stock were exercised for cash proceeds of $57,500. During the year ended December 31, 2019, warrants to purchase 6,982 shares of the Company's common stock expired and were cancelled. During the year ended December 31, 2018, warrants to purchase up to an aggregate of 780,500 shares of the Company's common stock at an exercise price of $5.30 per share were issued in the Company's Notes offering. The Warrants had a fair value of $1,253,390 (see Note 7 "Notes Payable"). During the year ended December 31, 2018, warrants to purchase 349,315 shares of the Company's common stock were exercised for aggregate cash proceeds of $678,240. The following table represents warrant activity for the years ended December 31, 2019 and 2018: Weighted Average Warrants Exercise Price Fair Value Contractual Aggregate Outstanding Exercisable Outstanding Exercisable Vested Life (Years) Intrinsic Value Balance – December 31, 2017 4,533,020 4,517,395 $ 1.85 $ 1.85 $ 1.00 3.21 $ - Granted 780,500 - - - - - - Exercised (349,315 ) - - - - - - Cancelled - - - - - - - Balance – December 31, 2018 4,964,205 4,964,205 $ 2.39 $ 2.39 $ 1.14 2.27 $ - Granted - - - - - - - Exercised (50,000 ) - - - - - - Cancelled (6,982 ) - - - - - - Balance – December 31, 2019 4,907,223 4,907,223 $ 2.40 $ 2.40 $ 1.11 1.55 $ 1,077,594

Non-Cash Expenses

Non-Cash Expenses	12 Months Ended
	Dec. 31, 2019
Other Income and Expenses [Abstract]
Non-Cash Expenses	Note 11 - Non-Cash Expenses The following table details the Company's non-cash expenses included in the accompanying statements of operations: For the Years Ended 2019 2018 Operating expenses: Stock-based compensation $ 2,609,370 $ 4,318,993 Depreciation & amortization 148,520 79,128 Subtotal $ 2,757,890 $ 4,398,121 Other expense: Amortization of debt discount 420,341 311,125 Total non-cash expenses $ 3,178,231 $ 4,709,246

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 12 - Subsequent Events Management has evaluated subsequent events to determine if events or transactions occurring through the date on which the financial statements were issued require adjustment or disclosure in the Company's financial statements. Subsequent to December 31, 2019, a total of 71,981 stock options were exercised for cash proceeds of $42,226. Subsequent to December 31, 2019, the Company granted stock options to purchase a total of 125,000 shares of the Company's common stock with an exercise price of $2.24 per share. The stock options have terms of ten years and are subject to vesting based over a four-year period. Subsequent to December 31, 2019, the Company extended the maturity date of the Notes it issued during the year ended December 31, 2018 (see Note 7 - Notes Payable). The original maturity date of March 29, 2021 was extended to June 30, 2021. The expiration date of the warrants that were issued in connection with the Notes was extended from March 29, 2021 to March 29, 2022. Subsequent to December 31, 2019, the Company extended the expiration date of warrants to purchase approximately 1.2 million shares of the Company's common stock that were issued in 2017 as part of a private offering. The original expiration date of the warrants, June 30, 2020, was extended to September 30, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
BASIS OF PRESENTATION	Basis of Presentation All amounts are presented in U.S. Dollars.
USE OF ESTIMATES	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at dates of the financial statements and the reported amounts of revenue and expenses during the periods. Actual results could differ from these estimates. The Company's significant estimates and assumptions include the fair value of financial instruments, stock-based compensation and the valuation allowance relating to the Company's deferred tax assets.
CONCENTRATIONS OF CREDIT RISK	Concentrations of Credit Risk The Company maintains deposits in a financial institution which is insured by the Federal Deposit Insurance Corporation ("FDIC"). At various times, the Company has deposits in this financial institution in excess of the amount insured by the FDIC. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk.
INVESTMENTS	Investments Investments as of December 2019 and 2018 consist of U.S. Treasury Bills, which are classified as held-to-maturity, and Certificates of Deposit totaling $0 and $16,460,426, respectively. The Company determines the appropriate balance sheet classification of its investments at the time of purchase and evaluates the classification at each balance sheet date. All of the Company's U.S. Treasury Bills matured within the subsequent twelve months from the date of purchase. Unrealized gains and losses were de minimus
CAPITALIZATION OF PATENT COSTS	Capitalization of Patent Costs The Company capitalizes the costs of its patents which consists of legal and filing fees related to the prosecution of patent filings. The patents will be amortized using the straight-line method over the estimated remaining lives of the patents which is 20 years from the initial filing of the patent. Amortization for each of the years ended December 31, 2019 and 2018 was $1,079.
CASH EQUIVALENTS	Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2019, the Company invested $9,505,777 in Treasury Bills that are considered cash equivalents due to their maturity date being less than three months from the date of purchase. As of December 31, 2018, the Company did not have any cash equivalents.
PROPERTY AND EQUIPMENT, NET	Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation. Depreciation of computer and lab equipment is computed by use of the straight-line method based on the estimated useful lives of the assets, which range from three to five years. Expenditures for maintenance and repairs that do not improve or extend the expected lives of the assets are expensed to operations, while expenditures for major upgrades to existing items are capitalized. Upon retirement or other disposition of these assets, the costs and accumulated depreciation are removed from the accounts and resulting gains or losses are reflected in the results of operations.
FAIR VALUE OF FINANCIAL INSTRUMENTS	Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company utilizes three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 - inputs that are unobservable (for example, cash flow modeling inputs based on assumptions) The carrying amounts of cash, investments and accounts payable approximate fair value due to the short-term nature of these instruments. The amount of debt included in the accompanying balance sheets approximates its fair value because the interest rate of the notes approximates the current market interest rate.
COMMON STOCK PURCHASE WARRANTS	Common Stock Purchase Warrants The Company classifies as equity any contracts that (i) require physical settlement or net-share settlement or (ii) provides the Company with a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement) providing that such contracts are indexed to the Company's own stock. The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the Company's control), or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement). The Company assesses classification of its common stock purchase warrants and other free-standing derivatives at each reporting date to determine whether a change in classification between assets, liabilities and equity is required. The Company's free-standing derivatives consist of warrants to purchase common stock that were issued in connection with its notes payable and private offering. The Company evaluated these warrants to assess their proper classification using the applicable criteria enumerated under U.S. GAAP and determined that the common stock purchase warrants meet the criteria for equity classification in the accompanying balance sheets as of December 31, 2019 and 2018.
INCOME TAXES	Income Taxes The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of items that have been included or excluded in the financial statements or tax returns. Deferred tax assets and liabilities are determined on the basis of the difference between the tax basis of assets and liabilities and their respective financial reporting amounts ("temporary differences") at enacted tax rates in effect for the years in which the temporary differences are expected to reverse. The benefit of tax positions taken or expected to be taken in income tax returns are recognized in the financial statements if such positions are more likely than not of being sustained. Management has evaluated and concluded that there were no material uncertain tax positions requiring recognition in the Company's financial statements as of December 31, 2019 and 2018. The Company does not expect any significant changes in the unrecognized tax benefits within twelve months of the reporting date. The Company classifies interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. No interest or penalties have been recognized during the years ended December 31, 2019 and 2018.
RESEARCH AND DEVELOPMENT EXPENSES	Research and Development Expenses The Company expenses all research and development expenses as incurred. These costs include payroll, employee benefits, supplies, contracted for lab services, depreciation and other personnel-related costs associated with product development.
SHARE-BASED PAYMENT	Share-Based Payment The Company accounts for share-based payments using the fair value method. For employees and directors, the fair value of the award is measured, as discussed below, on the grant date. For non-employees, fair value is generally valued based on the fair value of the services provided or the fair value of the equity instruments on the measurement date, whichever is more readily determinable. The Company has granted stock options at exercise prices equal to the closing price of the Company's common stock as reported by Nasdaq, with input from management on the date of grant. Upon exercise of an option or warrant, the Company issues new shares of common stock out of its authorized shares. The weighted-average fair value of options and warrants has been estimated on the grant date or measurement date using the Black-Scholes pricing model. The fair value of each instrument is estimated on the grant date or measurement date utilizing certain assumptions for a risk-free interest rate, volatility and expected remaining lives of the awards. The risk-free interest rate used is the United States Treasury rate for the day of the grant having a term equal to the life of the equity instrument. Beginning with the first quarter of the year ending 2019, the fair value of stock-based payment awards issued was estimated using a volatility derived from the Company's share price. Prior to the first quarter of the year ending 2019, the Company had a limited history of being publicly traded and estimated the fair value of stock-based payment awards using a volatility derived from an index of comparable entities. The assumptions used in calculating the fair value of share-based payment awards represent management's best estimates, but these estimates involve inherent uncertainties and the application of management judgment. As a result, if factors change and the Company uses different assumptions, the Company's stock-based compensation expense could be materially different in the future. The weighted-average Black-Scholes assumptions are as follows: For the Years Ended December 31, 2019 2018 Expected life 6 years 4 years Risk free interest rate 2.18 % 2.62 % Expected volatility 77 % 84 % Expected dividend yield 0 % 0 % As of December 31, 2019, total unrecognized stock compensation expense was $4,972,057, which will be recognized as those options vest over a period of approximately four years. The amount of future stock option compensation expense could be affected by any future option grants or by any option holders leaving the Company before their grants are fully vested.
WARRANTS ISSUED IN 2018 NOTES PAYABLE OFFERING	Warrants Issued in 2018 Notes Payable Offering In connection with the Notes Payable issued in March and April 2018, the Company issued warrants to purchase 780,500 shares of its common stock (see Note 7 - Notes Payable). These warrants are exercisable at an exercise price of $5.30 per share. The Company evaluated the terms of these warrants and concluded that they should be treated as Equity. The fair value of the warrants was $1,253,390 and was recorded as a debt discount offsetting the carrying value of the notes in the accompanying balance sheets.
NET LOSS PER SHARE OF COMMON STOCK	Net Loss Per Share of Common Stock Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net earnings per share reflects the potential dilution that could occur if securities or other instruments to issue common stock were exercised or converted into common stock. Potentially dilutive securities are excluded from the computation of diluted net loss per share as their inclusion would be anti-dilutive and consist of the following: As of December 31, 2019 2018 Options 7,632,358 5,488,282 Warrants 4,907,223 4,964,205 Totals 12,539,581 10,452,487
RECENT ACCOUNTING PRONOUNCEMENTS	Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases ("ASU 2016-02"). ASU 2016-02 requires lessees to recognize most leases on their balance sheet as a right-of-use asset and a lease liability. Leases are classified as either operating or finance, and classification is based on criteria similar to current lease accounting. In July 2018, the FASB issued ASU No. 2018-10, "Codification Improvements to Topic 842, Leases" ("ASU 2018-10"), which amends 2016-02 on how to apply certain aspects of the new lease standard, and ASU No. 2018-11, "Leases (Topic 842) – Targeted Improvements" (ASU 2018-11), which addresses implementation issues. The guidance is effective for annual reporting periods beginning after December 15, 2018 and interim periods within those fiscal years, and early adoption is permitted. ASU 2016-02, ASU-2018-10 and ASU 2018-11 did not have a material impact on the Company's financial statements upon adoption. In June 2018, the FASB issued ASU No. 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting ( ) Revenue from Contracts with Customers In July 2018, the FASB issued ASU No. 2018-09, "Codification Improvements" ("ASU 2018-09"). These amendments provide clarifications and corrections to certain ASC subtopics including, but not limited to, the following: Income Statement - Reporting Comprehensive Income – Overall Debt - Modifications and Extinguishments Distinguishing Liabilities from Equity – Overall Compensation - Stock Compensation - Income Taxes Fair Value Measurement – Overall

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of weighted-average Black-Scholes assumptions	For the Years Ended December 31, 2019 2018 Expected life 6 years 4 years Risk free interest rate 2.18 % 2.62 % Expected volatility 77 % 84 % Expected dividend yield 0 % 0 %
Schedule of anti-dilutive securities excluded from computation of diluted net loss per share	As of December 31, 2019 2018 Options 7,632,358 5,488,282 Warrants 4,907,223 4,964,205 Totals 12,539,581 10,452,487

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	As of December 31, 2019 2018 Lab equipment $ 839,802 $ 727,450 Computer and equipment 60,384 23,191 Total property and equipment $ 900,186 $ 750,641 Less: accumulated depreciation (376,509 ) (229,901 ) Total property and equipment, net $ 523,677 $ 520,740

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	As of December 31, 2019 2018 Intangible assets: patents $ 21,604 $ 21,604 Less: amortization (2,450 ) (1,371 ) Total intangible assets, net $ 19,154 $ 20,233

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Payables and Accruals [Abstract]
Schedule of accrued liabilities	As of December 31, 2019 2018 Lab services & supplies $ 131,176 $ 7,786 Professional fees 57,912 106,478 Consultant fees 3,750 3,750 Interest 544,199 231,999 Other 179,655 1,800 Total accrued liabilities $ 916,692 $ 351,813

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of warrants issued using Black-Scholes pricing model	For The Year Ended December 31, 2018 Expected life 3 years Risk free interest rate 2.39% - 2.51% Expected volatility 68.85% - 68.89% Expected dividend yield 0% Forfeiture rate 0%

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets	As of December 31, 2019 2018 Current Accrued expenses $ 223,712 $ 168,068 Stock compensation 838,753 632,254 Net operating loss carryforward 11,978,595 8,949,957 Research and development credit carry forward 367,261 488,942 Total deferred tax assets 13,408,321 10,239,221 Valuation allowance (13,408,321 ) (10,239,221 ) Deferred tax asset, net of valuation allowance $ - $ -
Schedule of statutory federal income tax rate	For the Years Ended December 31, 2019 2018 U.S. statutory federal rate (21.0 )% (21.0 )% State income taxes, net of federal tax (7.0 )% (7.0 )% Federal tax rate change - % - % Permanent differences 3.0 % 5.4 % Prior year true-ups 0.3 % 0.2 % R&D tax credit (0.7 )% (0.5 )% Change in valuation allowance 25.4 % 22.9 % Income tax provision (benefit) - % - %
Schedule of income tax provision	For the Years Ended December 31, 2019 2018 Federal Current $ - $ - Deferred (2,378,218 ) (2,837,776 ) State and local Current - - Deferred (790,882 ) (943,709 ) Change in valuation allowance 3,169,100 3,781,485 Income tax provision (benefit) $ - $ -

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Schedule of stock-based compensation	For the Years Ended 2019 2018 Research and development $ 915,075 $ 2,583,251 General and administrative 1,694,295 1,735,742 Total $ 2,609,370 $ 4,318,993
Schedule of stock option activity	Weighted Average Stock Options Exercise Price Fair Value Contractual Aggregate Outstanding Exercisable Outstanding Exercisable Vested Life (Years) Intrinsic Value Balance – December 31, 2017 5,691,414 3,124,941 $ 1.16 $ 0.73 $ 0.73 6.87 $ - Granted 860,000 - - - - - - Exercised (602,533 ) - - - - - - Cancelled (460,599 ) - - - - - - Balance – December 31, 2018 5,488,282 4,384,294 $ 2.10 $ 1.32 $ 1.32 5.80 $ - Granted 2,779,000 - - - - - - Exercised (441,210 ) - - - - - - Cancelled (193,714 ) - - - - - - Balance – December 31, 2019 7,632,358 4,542,144 $ 2.21 $ 1.57 $ 1.57 6.44 $ 2,364,422
Schedule of stock options outstanding and exercisable	Grant Price Weighted Average Total Number Weighted Average From To Exercise Price Outstanding Exercisable Term $ 0.05 $ 2.02 $ 0.89 3,290,357 3,086,190 4.32 years $ 2.40 $ 4.60 $ 2.47 3,649,001 998,021 8.64 years $ 5.30 $ 8.86 $ 6.62 693,000 457,933 8.36 years Totals 7,632,358 4,542,144
Schedule of warrants activity	Weighted Average Warrants Exercise Price Fair Value Contractual Aggregate Outstanding Exercisable Outstanding Exercisable Vested Life (Years) Intrinsic Value Balance – December 31, 2017 4,533,020 4,517,395 $ 1.85 $ 1.85 $ 1.00 3.21 $ - Granted 780,500 - - - - - - Exercised (349,315 ) - - - - - - Cancelled - - - - - - - Balance – December 31, 2018 4,964,205 4,964,205 $ 2.39 $ 2.39 $ 1.14 2.27 $ - Granted - - - - - - - Exercised (50,000 ) - - - - - - Cancelled (6,982 ) - - - - - - Balance – December 31, 2019 4,907,223 4,907,223 $ 2.40 $ 2.40 $ 1.11 1.55 $ 1,077,594

Non-Cash Expenses (Tables)

Non-Cash Expenses (Tables)	12 Months Ended
	Dec. 31, 2019
Other Income and Expenses [Abstract]
Schedule of non-cash expenses	For the Years Ended 2019 2018 Operating expenses: Stock-based compensation $ 2,609,370 $ 4,318,993 Depreciation & amortization 148,520 79,128 Subtotal $ 2,757,890 $ 4,398,121 Other expense: Amortization of debt discount 420,341 311,125 Total non-cash expenses $ 3,178,231 $ 4,709,246

Liquidity and Management's Pl_2

Liquidity and Management's Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Liquidity and Management's Plans (Textual)
Cash and cash equivalents	$ 12,563,853	$ 5,722,342	$ 2,823,450
Working capital	10,885,941
Stockholders' equity	8,136,826	17,962,618	$ 7,618,913
Net loss	$ (13,044,772)	$ (15,705,865)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Equity Option [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule of weighted-average Black-Scholes assumptions
Expected life	6 years	4 years
Risk free interest rate	2.18%	2.62%
Expected volatility	77.00%	84.00%
Expected dividend yield	0.00%	0.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule of anti-dilutive securities excluded from computation of earnings per share
Anti-dilutive securities excluded from computation of earnings per share, Amount	12,539,581	10,452,487
Warrants [Member]
Schedule of anti-dilutive securities excluded from computation of earnings per share
Anti-dilutive securities excluded from computation of earnings per share, Amount	4,907,223	4,964,205
Options [Member]
Schedule of anti-dilutive securities excluded from computation of earnings per share
Anti-dilutive securities excluded from computation of earnings per share, Amount	7,632,358	5,488,282

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Apr. 30, 2018	Mar. 31, 2018
Summary of Significant Accounting Policies (Textual)
Treasury bills that are considered cash equivalents	$ 9,505,777
Certificates of deposit	0	$ 16,460,426
Unrecognized stock option compensation expense	$ 4,972,057
Estimated useful lives of the assets	20 years
Recognized options vest over period	Approximately four years.
Warrants to purchase shares	780,500
Fair value of the warrants	$ 1,253,390
Amortization	$ 1,079	$ 1,079
Warrants Issued in 2018 Notes Payable Offering [Member]
Summary of Significant Accounting Policies (Textual)
Warrants to purchase shares			780,500	780,500
Warrants, exercise price	$ 5.30
Fair value of the warrants	$ 1,253,390

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Total property and equipment	$ 900,186	$ 750,641
Less: accumulated depreciation	(376,509)	(229,901)
Total property and equipment, net	523,677	520,740
Lab equipment [Member]
Total property and equipment	839,802	727,450
Computer and equipment [Member]
Total property and equipment	$ 60,384	$ 23,191

Property and Equipment (Detai_2

Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property and Equipment (Textual)
Depreciation expenses	$ 147,441	$ 78,049
Adjusted the carrying value of the assets and accumulated depreciation	$ 833

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets: patents	$ 21,604	$ 21,604
Less: amortization	(2,450)	(1,371)
Total intangible assets, net	$ 19,154	$ 20,233

Intangible Assets (Details Text

Intangible Assets (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Intangible Assets (Textual)
Amortization expenses	$ 1,079	$ 1,079
Thereafter, amortization expense	13,759
Intangible amortization expense next five years	$ 1,079

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Lab services & supplies	$ 131,176	$ 7,786
Professional fees	57,912	106,478
Consultant fees	3,750	3,750
Interest	544,199	231,999
Other	179,655	1,800
Total accrued liabilities	$ 916,692	$ 351,813

Notes Payable (Details)

Notes Payable (Details) - Note Warrant [Member]	12 Months Ended
	Dec. 31, 2018
Schedule of weighted-average Black-Scholes assumptions
Expected life	3 years
Expected dividend yield	0.00%
Forfeiture rate	0.00%
Minimum [Member]
Schedule of weighted-average Black-Scholes assumptions
Risk free interest rate	2.39%
Expected volatility	68.85%
Maximum [Member]
Schedule of weighted-average Black-Scholes assumptions
Risk free interest rate	2.51%
Expected volatility	68.89%

Notes Payable (Details Textual)

Notes Payable (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Notes Payable (Textual)
Fair value of the warrants	$ 1,253,390
Deferred costs, total		$ 57,923
Notes payable, Net	$ 3,356,188	2,916,337
Issuance of warrants	780,500
Debt discount and offering costs	$ 765,001	325,150
Amortization of debt discount and offering costs	$ 439,851	$ 325,150
Promissory notes [Member]
Notes Payable (Textual)
Original terms of debt		4 years
Note and Warrant Purchase Agreements [Member]
Notes Payable (Textual)
Rate of interest on unsecured promissory notes		8.00%
Aggregate principal amount		$ 3,902,500
Note and Warrant Purchase Agreements [Member] | Officers and directors [Member]
Notes Payable (Textual)
Net aggregate amount of notes purchased by officers		$ 532,500
Warrants, exercise price		$ 5.30

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Commitments and Contingencies (Textual)
Rent expense for space	$ 13,080
Rent expense		$ 350,979	$ 298,972
2011 Exclusive Agreement [Member]
Commitments and Contingencies (Textual)
Milestone payment		$ 765,000
License reduced percentage		50.00%
Aggregate maintenance fees		$ 80,000
Maintenance fees annually		$ 50,000
Royalty percentage		2.00%
Minimum royalty expense		$ 75,000
Royalty description		The Company is required to pay royalties ranging from 8% of worldwide sublicense sales of covered products (if the sublicense is entered after commencement of phase II clinical trials to 12% of worldwide sublicense sales (if the sublicense is entered prior to commencement of phase I clinical trials).
2013 Exclusive Agreement [Member]
Commitments and Contingencies (Textual)
Milestone payment		$ 765,000
License reduced percentage		50.00%
Aggregate maintenance fees		$ 7,500
Maintenance fees annually		$ 5,000
Royalty percentage		2.00%
Minimum royalty expense		$ 75,000
Royalty description		The Company is required to pay the Regents royalties ranging from 8% of worldwide sublicense sales of covered products (if the sublicense is entered after commencement of phase II clinical trials to 12% of worldwide sublicense sales (if the sublicense is entered prior to commencement of phase I clinical trials).
License costs		$ 10,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current:
Accrued expenses	$ 223,712	$ 168,068
Stock compensation	838,753	632,254
Net operating loss carryforward	11,978,595	8,949,957
Research and development credit carry forward	367,261	488,942
Total deferred tax assets	13,408,321	10,239,221
Valuation allowance	(13,408,321)	(10,239,221)
Deferred tax asset, net of valuation allowance

Income Taxes (Details 1)

Income Taxes (Details 1)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. statutory federal rate	(21.00%)	(21.00%)
State income taxes, net of federal tax	(7.00%)	(7.00%)
Federal tax rate change
Permanent differences	3.00%	5.40%
Prior year true-ups	0.30%	0.20%
R&D tax credit	(0.70%)	(0.50%)
Change in valuation allowance	25.40%	22.90%
Income tax provision (benefit)

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Federal
Current
Deferred	(2,378,218)	(2,837,776)
State and local
Current
Deferred	(790,882)	(943,709)
Change in valuation allowance	3,169,100	3,781,485
Income tax provision (benefit)

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes (Textual)
Change in valuation allowance	$ 3,169,100	$ 3,781,485
Net operating loss carryovers	$ 43,000,000	$ 32,000,000
Operating loss carry forwards, description	The Company's 2017 and prior federal and state net operating loss carry forwards, if not utilized, will begin to expire from 2029 to 2038. Beginning with 2018, and for subsequent years, the Company's NOLs will have indefinite lives for federal tax purposes.
Deferred tax assets	$ 9,200,000
Deferred tax assets revalued	$ 6,500,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 2,609,370	$ 4,318,993
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	915,075	2,583,251
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total	$ 1,694,295	$ 1,735,742

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - Equity Option [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Stock Options, Outstanding
Beginning Balance	5,488,282	5,691,414
Granted	2,779,000	860,000
Exercised	(441,210)	(602,533)
Cancelled	(193,714)	(460,599)
Ending Balance	7,632,358	5,488,282
Stock Options, Exercisable
Beginning Balance	4,384,294	3,124,941
Granted
Exercised
Cancelled
Ending Balance	4,542,144	4,384,294
Weighted Average, Exercise Price, Outstanding
Beginning Balance	$ 2.10	$ 1.16
Granted
Exercised
Cancelled
Ending Balance	2.21	2.10
Weighted Average, Exercise Price, Exercisable
Beginning Balance	1.32	0.73
Granted
Exercised
Cancelled
Ending Balance	1.57	1.32
Weighted Average, Fair Value Vested
Beginning Balance	1.32	0.73
Granted
Exercised
Cancelled
Ending Balance	$ 1.57	$ 1.32
Weighted Average, Contractual Life (Years)
Beginning Balance	5 years 9 months 18 days	6 years 10 months 14 days
Granted
Exercised
Cancelled
Ending Balance	6 years 5 months 9 days	5 years 9 months 18 days
Aggregate Intrinsic Value
Beginning Balance
Granted
Exercised
Cancelled
Ending Balance	$ 2,364,422

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock Options, Total Outstanding | shares	7,632,358
Stock Options, Number Exercisable | shares	4,542,144
Grant Price From 0.05 To 2.02 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock Options, Grant Price, Minimum	$ 0.05
Stock Options, Grant Price, Maximum	2.02
Stock Options, Weighted Average Exercise Price	$ 0.89
Stock Options, Total Outstanding | shares	3,290,357
Stock Options, Number Exercisable | shares	3,086,190
Stock Options, Weighted Average Remaining Contractual Term	4 years 3 months 26 days
Grant Price From 2.40 To 4.60 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock Options, Grant Price, Minimum	$ 2.40
Stock Options, Grant Price, Maximum	4.60
Stock Options, Weighted Average Exercise Price	$ 2.47
Stock Options, Total Outstanding | shares	3,649,001
Stock Options, Number Exercisable | shares	998,021
Stock Options, Weighted Average Remaining Contractual Term	8 years 7 months 21 days
Grant Price From 5.30 To 8.86 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock Options, Grant Price, Minimum	$ 5.30
Stock Options, Grant Price, Maximum	8.86
Stock Options, Weighted Average Exercise Price	$ 6.62
Stock Options, Total Outstanding | shares	693,000
Stock Options, Number Exercisable | shares	457,933
Stock Options, Weighted Average Remaining Contractual Term	8 years 4 months 9 days

Stockholders' Equity (Details 3

Stockholders' Equity (Details 3) - Warrant [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Warrants, Outstanding
Beginning Balance	4,964,205	4,533,020
Granted
Exercised	(50,000)	(349,315)
Cancelled	(6,982)
Ending Balance	4,907,223	4,964,205
Warrants, Exercisable
Beginning Balance	4,964,205	4,517,395
Granted
Exercised
Cancelled
Ending Balance	4,907,223	4,964,205
Weighted Average, Exercise Price, Outstanding
Beginning Balance	$ 2.39	$ 1.85
Granted
Cancelled
Exercised
Ending Balance	2.40	2.39
Weighted Average, Exercise Price, Exercisable
Beginning Balance	2.39	1.85
Granted
Exercised
Cancelled
Ending Balance	2.40	2.39
Weighted Average, Fair Value Vested
Beginning Balance	1.14	1
Granted
Exercised
Cancelled
Ending Balance	$ 1.11	$ 1.14
Weighted Average, Contractual Life (Years)
Beginning Balance	2 years 3 months 8 days	3 years 2 months 16 days
Granted
Exercised
Cancelled
Ending Balance	1 year 6 months 18 days	2 years 3 months 8 days
Aggregate Intrinsic Value
Beginning Balance
Granted
Exercised
Cancelled
Ending Balance	$ 1,077,594

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Jun. 19, 2018	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Stockholders' Equity (Textual)
Authorized to issue and sale, shares			80,000,000
Common stock, shares authorized			75,000,000	75,000,000
Common stock, par value			$ 0.001	$ 0.001
Preferred stock, shares authorized			5,000,000	5,000,000
Preferred stock, par value			$ 0.001	$ 0.001
Common stock issued under the controlled equity offering program				2,186,855
Controlled equity offering program for proceeds				$ 19,304,081
Commissions and professional fees				95,778
Cash proceeds of exercised, stock options			$ 552,110	$ 494,866
Warrant [Member]
Stockholders' Equity (Textual)
Warrants issued with promissory notes
Common stock, per share				$ 5.30
Stock option aggregate grant fair value				$ 1,253,390
Warrants exercised			50,000	349,315
Warrants issued to purchase common stock				780,500
Cash proceeds from warrants			$ 57,500	$ 678,240
Number of warrants expired			6,982
Number of warrants exercised				349,315
Stock Option [Member]
Stockholders' Equity (Textual)
Stock options granted			2,779,000	860,000
Stock options granted to employees		726,000
Options exercised			441,210	602,533
Common stock, per share		$ 2.40
Stock option aggregate grant fair value		$ 2,759,453		$ 3,337,752
Stock options, description		The remaining shares subject to the stock options will vest over a period of 24 months subject to the continuous service of the applicable optionee.
Number of options cancelled			193,714	460,599
Recognized options and warrants vest over period				10 years
Cash proceeds of exercised, stock options			$ 552,110	$ 494,866
2011 Plan [Member]
Stockholders' Equity (Textual)
Remaining options to be issued			1,190,566
Total number of shares authorized for issuance	10,000,000
Maximum [Member] | Stock Option [Member]
Stockholders' Equity (Textual)
Common stock, per share				$ 8.86
Exercise price of stock option				8.86
Minimum [Member] | Stock Option [Member]
Stockholders' Equity (Textual)
Common stock, per share				5.30
Exercise price of stock option				$ 3.57
Employee Stock Option [Member]
Stockholders' Equity (Textual)
Stock options granted to employees			2,779,000
Stock option aggregate grant fair value			$ 3,471,351
Recognized options and warrants vest over period			10 years
Employee Stock Option [Member] | Maximum [Member]
Stockholders' Equity (Textual)
Common stock, per share			$ 3.15
Employee Stock Option [Member] | Minimum [Member]
Stockholders' Equity (Textual)
Common stock, per share			$ 1.43

Non-Cash Expenses (Details)

Non-Cash Expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Operating expenses:
Stock-based compensation	$ 2,609,370	$ 4,318,993
Depreciation & amortization	147,687	79,128
Subtotal	2,757,890	4,398,121
Other expense:
Amortization of debt discount	420,341	311,125
Total non-cash expenses	$ 3,178,231	$ 4,709,246

Subsequent Events (Details)

Subsequent Events (Details)	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
Stock options purchase	125,000
Exercise price | $ / shares	$ 2.24
Stock options vesting service, description	The stock options have terms of ten years and are subject to vesting based over a four-year period.
Stock options and exercised	71,981
Cash proceeds of stock options | $	$ 42,226
Description of maturity date	The Company extended the maturity date of the Notes it issued during the year ended December 31, 2018 (see Note 7 - Notes Payable). The original maturity date of March 29, 2021 was extended to June 30, 2021. The expiration date of the warrants that were issued in connection with the Notes was extended from March 29, 2021 to March 29, 2022..
Warrant [Member]
Warrants to purchase shares of common stock	1,200,000
Description of expiration date	The original expiration date of the warrants, June 30, 2020, was extended to September 30, 2021.