Relmada Therapeutics (RLMD) 10-Q 12 Nov 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 10, 2021
Document Information Line Items
Entity Registrant Name	RELMADA THERAPEUTICS, INC.
Trading Symbol	RLMD
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		17,530,830
Amendment Flag	false
Entity Central Index Key	0001553643
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-55347
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	45-5401931
Entity Address, Address Line One	2222 Ponce de Leon
Entity Address, Address Line Two	Floor 3
Entity Address, City or Town	Coral Gables
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33134
City Area Code	(786)
Local Phone Number	629-1376
Title of 12(b) Security	Common stock, $0.001 par value per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 11,449,294	$ 2,495,397
Short-term investments	76,637,802	114,595,525
Lease payments receivable – short term	84,592	79,457
Prepaid expenses	2,715,478	903,190
Total current assets	90,887,166	118,073,569
Fixed assets, net of accumulated depreciation		1,258
Other assets	25,000	25,000
Lease payments receivable – long term	22,275	86,377
Total assets	90,934,441	118,186,204
Current liabilities:
Accounts payable	12,708,546	8,346,475
Accrued expenses	5,538,804	4,256,983
Total current liabilities	18,247,350	12,603,458
Preferred stock, $0.001 par value, 200,000,000 shares authorized, none issued and outstanding
Class A convertible preferred stock, $0.001 par value, 3,500,000 shares authorized, none issued and outstanding
Common stock, $0.001 par value, 50,000,000 shares authorized, 17,501,554 and 16,332,939 shares issued and outstanding, respectively	17,502	16,333
Additional paid-in capital	343,358,208	284,881,716
Accumulated deficit	(270,688,619)	(179,315,303)
Total stockholders’ equity	72,687,091	105,582,746
Total liabilities and stockholders’ equity	$ 90,934,441	$ 118,186,204

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Preferred stock par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	200,000,000	200,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	17,501,554	16,332,939
Common stock, shares outstanding	17,501,554	16,332,939
Class A convertible preferred stock
Preferred stock par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	3,500,000	3,500,000
Preferred stock, shares issued
Preferred stock, shares outstanding

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating expenses:
Research and development	$ 33,993,974	$ 11,237,186	$ 65,347,708	$ 21,068,923
General and administrative	8,659,661	5,946,396	26,173,010	18,846,299
Total operating expenses	42,653,635	17,183,582	91,520,718	39,915,222
Loss from operations	(42,653,635)	(17,183,582)	(91,520,718)	(39,915,222)
Other (expenses) income:
Interest/investment income, net	297,648	363,300	1,040,429	1,174,957
Realized loss on short-term investments	(336,949)	(86,171)	(513,328)	(244,972)
Unrealized gain (loss) on short-term investments	86,745	3,946	(379,699)	290,973
Total other income - net	47,444	281,075	147,402	1,220,958
Net loss	$ (42,606,191)	$ (16,902,507)	$ (91,373,316)	$ (38,694,264)
Loss per common share – basic and diluted (in Dollars per share)	$ (2.44)	$ (1.05)	$ (5.36)	$ (2.52)
Weighted average number of common shares outstanding – basic and diluted (in Shares)	17,478,477	16,044,670	17,038,583	15,371,118

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2019	$ 14,457	$ 235,522,746	$ (119,858,909)	$ 115,678,294
Balance (in Shares) at Dec. 31, 2019	14,457,013
Stock based compensation		5,039,362		5,039,362
Warrant exercised for cash	$ 447	3,041,726		3,042,173
Warrant exercised for cash (in Shares)	447,107
Cashless warrant exercise	$ 34	(34)
Cashless warrant exercise (in Shares)	34,114
Options exercised for cash	$ 3	73,017		73,020
Options exercised for cash (in Shares)	2,434
Net loss			(10,673,316)	(10,673,316)
Balance at Mar. 31, 2020	$ 14,941	243,676,817	(130,532,225)	113,159,533
Balance (in Shares) at Mar. 31, 2020	14,940,668
Stock based compensation		7,302,513		7,302,513
Warrant exercised for cash	$ 368	2,576,735		2,577,103
Warrant exercised for cash (in Shares)	368,364
Cashless warrant exercise	$ 2	(2)
Cashless warrant exercise (in Shares)	1,840
Options exercised for cash	$ 113	457,510		457,623
Options exercised for cash (in Shares)	113,281
Equity offering, net	$ 428	19,854,590		19,855,018
Equity offering, net (in Shares)	427,700
Net loss			(11,118,441)	(11,118,441)
Balance at Jun. 30, 2020	$ 15,852	273,868,163	(141,650,666)	132,233,349
Balance (in Shares) at Jun. 30, 2020	15,851,853
Stock based compensation		5,244,658		5,244,658
Warrant exercised for cash	$ 215	1,566,815		1,567,030
Warrant exercised for cash (in Shares)	214,899
Cashless warrant exercise	$ 7	(7)
Cashless warrant exercise (in Shares)	6,521
Options exercised for cash	$ 25	105,850		105,875
Options exercised for cash (in Shares)	25,781
Cashless option exercised	$ 90	(90)
Cashless option exercised (in Shares)	90,204
Equity offering costs		(38,421)		(38,421)
Net loss			(16,902,507)	(16,902,507)
Balance at Sep. 30, 2020	$ 16,189	280,746,968	(158,553,173)	122,209,984
Balance (in Shares) at Sep. 30, 2020	16,189,258
Balance at Dec. 31, 2020	$ 16,333	284,881,716	(179,315,303)	105,582,746
Balance (in Shares) at Dec. 31, 2020	16,332,939
Stock based compensation		5,851,284		5,851,284
Warrant exercised for cash	$ 273	1,460,233		1,460,506
Warrant exercised for cash (in Shares)	273,491
Options exercised for cash	$ 142	467,631		467,773
Options exercised for cash (in Shares)	141,625
Net loss			(22,215,181)	(22,215,181)
Balance at Mar. 31, 2021	$ 16,748	292,660,864	(201,530,484)	91,147,128
Balance (in Shares) at Mar. 31, 2021	16,748,055
Balance at Dec. 31, 2020	$ 16,333	284,881,716	(179,315,303)	105,582,746
Balance (in Shares) at Dec. 31, 2020	16,332,939
Options exercised for cash	$ 569,427
Balance at Sep. 30, 2021	$ 17,502	343,358,208	(270,688,619)	72,687,091
Balance (in Shares) at Sep. 30, 2021	17,501,554
Balance at Mar. 31, 2021	$ 16,748	292,660,864	(201,530,484)	91,147,128
Balance (in Shares) at Mar. 31, 2021	16,748,055
Stock based compensation		8,268,376		8,268,376
Warrant exercised for cash	$ 62	481,387		481,449
Warrant exercised for cash (in Shares)	62,059
Options exercised for cash	$ 7	49,491		49,498
Options exercised for cash (in Shares)	7,031
ATM offering, net of offering costs	$ 652	23,457,398		23,458,050
ATM offering, net of offering costs (in Shares)	651,674
Net loss			(26,551,944)	(26,551,944)
Balance at Jun. 30, 2021	$ 17,469	324,917,516	(228,082,428)	96,852,557
Balance (in Shares) at Jun. 30, 2021	17,468,819
Stock based compensation		8,013,970		8,013,970
Warrant exercised for cash	$ 21	174,993		175,014
Warrant exercised for cash (in Shares)	20,835
Options exercised for cash	$ 12	52,144		52,156
Options exercised for cash (in Shares)	11,900
Equity offering costs		(42,014)		(42,014)
Net loss			(42,606,191)	(42,606,191)
Balance at Sep. 30, 2021	$ 17,502	343,358,208	(270,688,619)	72,687,091
Balance (in Shares) at Sep. 30, 2021	17,501,554
Warrants issued for license agreement		$ 10,241,599,000,000		$ 10,241,599,000,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net loss	$ (91,373,316)	$ (38,694,264)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	1,258	2,929
Warrants issued for license agreement	10,241,599
Stock-based compensation	22,133,630	17,586,533
Realized loss on short-term investments	513,328	244,972
Unrealized loss/(gain) on short-term investments	379,699	(290,973)
Change in operating assets and liabilities:
Lease payment receivable	58,967	54,242
Prepaid expenses	(1,812,288)	(1,825,336)
Accounts payable	4,362,071	205,970
Accrued expenses	1,281,821	1,835,888
Net cash used in operating activities	(54,213,231)	(20,880,039)
Cash flows from investing activities
Purchase of short-term investments	(82,476,539)	(88,763,192)
Sale of short-term investments	119,541,235	53,380,266
Net cash provided by (used in) investing activities	37,064,696	(35,382,926)
Cash flows from financing activities
Principal payments of notes payable		(110,247)
Proceeds from issuance of common stock – net	23,416,036	19,816,597
Proceeds from options exercised for common stock	569,427	636,518
Proceeds from warrants exercised for common stock	2,116,969	7,186,306
Net cash provided by financing activities	26,102,432	27,529,174
Net increase /(decrease) in cash and cash equivalents	8,953,897	(28,733,791)
Cash and cash equivalents at beginning of the period	2,495,397	36,278,519
Cash and cash equivalents at end of the period	11,449,294	7,544,728
Non-cash investing and financing activities:
Cashless exercise of warrants for common stock		43
Cashless exercise of options for common stock		90
Cash paid during the period for:
Income taxes
Interest		$ 2,415

Business

Business	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
BUSINESS	NOTE 1 - BUSINESS Relmada Therapeutics, Inc. (Relmada or the Company) (a Nevada corporation), is a clinical-stage, publicly traded biotechnology company focused on the development of esmethadone (d-methadone, dextromethadone, REL-1017), an N-methyl-D-aspartate (NMDA) receptor antagonist. Esmethadone is a New Chemical Entity (NCE) that potentially addresses areas of high unmet medical need in the treatment of central nervous system (CNS) diseases and other disorders. In addition to the normal risks associated with a new business venture, there can be no assurance that the Company’s research and development will be successfully completed or that any product will be approved or commercially viable. The Company is subject to risks common to companies in the biotechnology industry including, but not limited to, dependence on collaborative arrangements, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, and compliance with the Food and Drug Administration (FDA) and other governmental regulations and approval requirements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim unaudited condensed consolidated financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. The unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited condensed consolidated financial statements of the Company for the year ended December 31, 2020 and notes thereto contained in the Company’s Annual Report on Form 10-K. Liquidity As shown in the accompanying financial statements, the Company incurred negative operating cash flows of $54,213,231 for the nine months ended September 30, 2021 and has an accumulated deficit of $270,688,619 from inception through September 30, 2021. At September 30, 2021, the Company had cash and short term investments of $88,087,096. Relmada has funded its past operations through equity raises and most recently in 2021 raised net proceeds from the sale of common stock of $23,416,036 through our ATM offering and $2,116,969 through the exercise of warrants. The Company also raised an additional $569,427 during the nine months ended September 30, 2021 from the exercises of options. Management believes that the Company’s existing cash and cash equivalents will enable it to fund operating expenses and capital expenditure requirements for at least 12 months from the issuance of these unaudited condensed consolidated quarterly financial statements. Beyond that point management will evaluate the size and scope of any subsequent trials that will affect the timing of additional financings through public or private sales of equity or debt securities or from bank or other loans or through strategic collaboration and/or licensing agreements. Any such expenditures related to any subsequent trials will not be incurred until such additional financing is raised. Further, additional financing related to subsequent trials does not affect the Company’s conclusion that based on the cash on hand and the budgeted cash flow requirements, the Company has sufficient funds to maintain operations for at least 12 months from the issuance of these consolidated financial statements. Principles of Consolidation The unaudited condensed consolidated financial statements include the Company’s accounts and those of the Company’s wholly-owned subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation. Risks and Uncertainties The ongoing pandemic may adversely affect our business. Based on the Company’s current assessment, the Company does not expect any material impact on its long-term development timeline and its liquidity due to the worldwide spread of the coronavirus (COVID-19). However, the Company is actively monitoring this situation and the possible effects on its financial condition, liquidity, operations, suppliers, industry, and workforce. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. The significant estimates are the valuation of research and development expenses, stock-based compensation expenses and deferred tax assets and the related valuation allowance. Cash and Cash Equivalents The Company considers cash deposits and all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company’s cash deposits are held at two high-credit-quality financial institutions. The Company’s cash deposits at these institutions exceed federally insured limits. Short-term Investments The Company’s investments consist entirely of mutual funds. The securities are measured at fair value based on the net asset value (NAV). The Company adopted Financial Accounting Standards Board (FASB) Accounting Standard Update (ASU) 2016-01, Financial Instruments Patents Costs related to filing and pursuing patent applications are recorded as general and administrative expense and expensed as incurred since recoverability of such expenditures is uncertain. Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Fixed assets are comprised of computers and software. Depreciation is calculated using the straight-line method over the estimated useful life of the assets. Computers and software have an estimated useful life of three years. Leases The Company recognizes its leases with a term of greater than a year on the balance sheet by recording right-of-use assets and lease liabilities. Leases can be classified as either operating leases or finance leases. Operating leases will result in straight-line lease expense, while finance leases will result in front-loaded expense. The Company’s lease consists of an operating lease for office space. The Company does not recognize a lease liability or right-of-use asset on the balance sheet for short-term leases. Instead, the Company recognizes short-term lease payments as an expense on a straight-line basis over the lease term. A short-term lease is defined as a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. Fair Value of Financial Instruments The Company’s financial instruments primarily include cash, short term investments, and accounts payable. Due to the short-term nature of cash and accounts payable the carrying amounts of these assets and liabilities approximate their fair value. Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability (an exit price), in an orderly transaction between market participants at the reporting date. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The Company’s short-term investment instruments of $76,637,802 at September 30, 2021 consist of mutual funds, bank deposits and money market funds and are classified using Level 1 inputs within the fair value hierarchy because the value is based on quoted prices in active markets. Unrealized gains and losses are recorded in the condensed consolidated statement of operations under other income. The Company recorded an unrealized gain/(loss) of $86,745 and $(379,699) included in other income for the three and nine months ended September 30, 2021, respectively. The Company recorded an unrealized gain of $3,946 and $290,973 included in other income for the three and nine months ended September 30, 2020, respectively. Income Taxes The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of September 30, 2021 and December 31, 2020, the Company had recognized a valuation allowance to the full extent of the Company’s net deferred tax assets since the likelihood of realization of the benefit does not meet the more likely than not threshold. The Company files a U.S. Federal income tax return and various state returns. Uncertain tax positions taken on the Company’s tax returns will be accounted for as liabilities for unrecognized tax benefits. The Company will recognize interest and penalties, if any, related to unrecognized tax benefits in general and administrative expenses in the statements of operations. There were no liabilities recorded for uncertain tax positions at September 30, 2021 and December 31, 2020. The open tax years, subject to potential examination by the applicable taxing authority, for the Company are from June 30, 2018 forward. Research and Development Research and development costs primarily consist of research contracts for the advancement of product development, salaries and benefits, stock-based compensation, and consultants. The Company expenses all research and development costs in the period incurred. The Company makes an estimate of costs in relation to clinical study contracts. The Company analyzes the progress of studies, including the progress of clinical studies, invoices received and contracted costs when evaluating the adequacy of the amount expensed and the related prepaid asset and accrued liability. Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award - the requisite service period. The grant-date fair value of employee share options is estimated using the Black-Scholes option pricing model adjusted for the unique characteristics of those instruments. Net Loss per Common Share Basic loss per common share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted loss per common share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method. Dilutive common stock equivalents are comprised of options and warrants to purchase common stock. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position. For the nine months ended September 30, 2021 and 2020, the potentially dilutive securities that would be anti-dilutive due to the Company’s net loss are not included in the calculation of diluted net loss per share attributable to common stockholders. The anti-dilutive securities are as follows (in common stock equivalent shares): Nine months ended September 30, September 30, Stock options 5,043,931 4,110,425 Common stock warrants 3,244,248 2,674,265 Total 8,288,179 6,784,690 Recent Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) Subsequent Events The Company’s management reviewed all material events through the date the financial statements were issued for subsequent event disclosure consideration.

Prepaid Expenses

Prepaid Expenses	9 Months Ended
	Sep. 30, 2021
Prepaid Expenses [Abstract]
PREPAID EXPENSES	NOTE 3 - PREPAID EXPENSES Prepaid expenses consisted of the following (rounded to nearest $00): September 30, December 31, Insurance $ 542,000 $ 527,600 Research and Development 2,025,600 291,800 Legal 11,000 11,000 Other 136,900 72,800 Total $ 2,715,500 $ 903,200

Fixed Assets

Fixed Assets	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
FIXED ASSETS	NOTE 4 - FIXED ASSETS Fixed assets, net of accumulated depreciation, consisted of the following (rounded to nearest $00): Useful September 30, December 31, Computer and Software 3 years $ 16,700 $ 16,700 Less: accumulated depreciation (16,700 ) (15,400 ) Fixed Assets $ - $ 1,300 For the nine months ended September 30, 2021 and 2020, the Company recognized depreciation expense of approximately $1,258 and $2,929, respectively.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
ACCRUED EXPENSES	NOTE 5 - ACCRUED EXPENSES Accrued expenses consisted of the following (rounded to nearest $00): September 30, December 31, Research and development $ 3,977,500 $ 2,183,800 Professional fees 174,200 150,900 Accrued bonus 867,000 1,444,900 Accrued vacation 413,500 351,200 Other 106,600 126,200 Total $ 5,538,800 $ 4,257,000

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 6 - STOCKHOLDERS’ EQUITY Common Stock During the nine months ended September 30, 2021, the Company issued 356,385 shares of common stock for cash exercises of warrants for proceeds of $2,116,969. During the nine months ended September 30, 2021, the Company issued 160,556 shares of common stock for the exercise of options for proceeds of $569,427. On May 15, 2020, the Company entered into an Open Market Sale Agreement with Jefferies LLC, as sales agent (“Jefferies”), pursuant to which the Company may offer and sell, from time to time, through Jefferies, shares of the Company’s common stock, having an aggregate offering price of up to $75,000,000. The Company is not obligated to sell any shares under the agreement. During the nine months ended September 30, 2021, the Company issued 651,674 shares of common stock for net cash proceeds of $23,416,036 under the agreement. During the nine months ended September 30, 2020, the Company issued shares of common stock for net cash proceeds of $19,816,597. Options and Warrants In December 2014, the Board of Directors adopted and the Company’s shareholders approved Relmada’s 2014 Stock Option and Equity Incentive Plan, as amended (the “Plan”), which allows for the granting of common stock awards, stock appreciation rights, and incentive and nonqualified stock options to purchase shares of the Company’s common stock to designated employees, non-employee directors, and consultants and advisors. In May 2021, the Company’s shareholders approved Relmada’s Board of Director approved 2021 Equity Incentive Plan which allows for the granting of 1,500,000 options or stock awards. These combined plans allow for the granting of up to 6,652,942 options or stock awards. Stock options are exercisable generally for a period of 10 years from the date of grant and generally vest over four years. As of September 30, 2021, 1,609,011 shares were available for future grants under the Plan. As of September 30, 2021, no stock appreciation rights have been issued. The Company utilizes the Black-Scholes option pricing model to estimate the fair value of stock options and warrants. The risk-free interest rate assumptions were based upon the observed interest rates appropriate for the expected term of the equity instruments. The expected dividend yield was assumed to be zero as the Company has not paid any dividends since its inception and does not anticipate paying dividends in the foreseeable future. The expected volatility was based on historical volatility. The Company routinely reviews its calculation of volatility changes in future volatility, the Company’s life cycle, its peer group, and other factors. The Company uses the simplified method for share-based compensation to estimate the expected term for equity awards for share-based compensation in its option-pricing model. On January 6, 2021, the Company awarded a total of 1,490,000 options to employees and directors with an exercise price of $33.43 and a 10-year term vesting over a 4-year period. The options granted include time based vesting grants and performance vesting based on the Company’s achievement of performance metrics. The options have an aggregate fair value of $39.7 million calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.59% (2) expected life of 6.25 years, (3) expected volatility of 101%, and (4) zero expected dividends. As of September 30, 2021, five performance metrics for 468,000 options were met. Vesting of such options is subject to the passage of time. At September 30, 2021, the Company incurred expense of $2,268,562 related to these options. On February 18, 2021, the Company awarded a total of 25,000 options to an employee with an exercise price of $35.15 and a 10-year term, vesting over a 4-year period. The options have an aggregate fair value of $701,000 calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.75% (2) expected life of 6.25 years, (3) expected volatility of 101%, and (4) zero expected dividends. At September 30, 2021, the Company has unrecognized stock-based compensation expense of approximately $67.6 million related to unvested stock options over the weighted average remaining service period of 2.76 years. Options A summary of the changes in options during the nine months ended September 30, 2021 is as follows: Number Weighted Weighted Aggregate Outstanding and expected to vest at December 31, 2020 3,905,737 $ 24.32 8.40 $ 48,952,339 Granted 1,515,000 $ 33.46 9.28 $ - Exercised (160,556 ) $ 3.56 - $ - Forfeited (216,250 ) $ 39.61 - $ - Outstanding at September 30, 2021 5,043,931 $ 27.07 8.18 $ 33,664,009 Options exercisable at September 30, 2021 2,079,396 $ 22.59 7.54 $ 21,827,709 Warrants A summary of the changes in outstanding warrants during the nine months ended September 30, 2021 is as follows: Number of Weighted Outstanding and vested at December 31, 2020 2,670,633 $ 9.11 Granted 930,000 $ 32.21 Exercised (356,385 ) $ 5.94 Outstanding at September 30, 2021 3,244,248 $ 16.08 Warrants Vested at September 30, 2021 2,829,873 $ 8.13 At September 30, 2021, the Company had approximately $12.5 million of unrecognized compensation expense related to outstanding warrants. On January 6, 2021, the Company awarded a total of 400,000 warrants to consultants with an exercise price of $33.43 and a 10-year term, vesting over 4-year period. The warrants granted include time based vesting grants and performance vesting based on the Company’s achievement of performance metrics. The warrants have an aggregate fair value of $10.6 million calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.59% (2) expected life of 6.25 years, (3) expected volatility of 101%, and (4) zero expected dividends. As of September 30, 2021, five performance metrics for 180,000 warrants were met. Vesting of such options is subject to the passage of time. At September 30, 2021, the Company incurred expense of $872,524 related to these warrants. On June 18, 2021, the Company awarded a total of 10,000 warrants to a consultant with an exercise price of $30.90 and a 5-year term, vesting over a 1-year period. The warrants granted are time based vesting. The warrants have an aggregate fair value of $190,401 calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.47% (2) expected life of 3.00 years, (3) expected volatility of 100%, and (4) zero expected dividends. On June 25, 2021, the Company awarded a total of 10,000 warrants to a consultant with an exercise price of $34.35 and a 5-year term, vesting over a 1-year period. The warrants granted are time based vesting. The warrants have an aggregate fair value of $211,653 calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.43% (2) expected life of 3.00 years, (3) expected volatility of 100%, and (4) zero expected dividends. On July 12, 2021, the Company awarded a total of 10,000 warrants to a consultant with an exercise price of $34.77 and a 5-year term, vesting over a 1-year period. The warrants granted are time based vesting. The warrants have an aggregate fair value of $212,219 calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.43% (2) expected life of 3.00 years, (3) expected volatility of 99%, and (4) zero expected dividends. On July 16, 2021, the Company awarded a total of 500,000 warrants to Arbormentis, LLC with an exercise price of $31.17 and a 7-year term, vesting immediately. The warrants have an aggregate fair value of $10,241,599 calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.48% (2) expected life of 3.50 years, (3) expected volatility of 101%, and (4) zero expected dividends. At September 30, 2021, the aggregate intrinsic value of warrants vested and outstanding was approximately $40.0 million and $40.1 million, respectively. At December 31, 2020, the aggregate intrinsic value of warrants vested and outstanding was approximately $61.0 million and $61.2 million, respectively. The following table summarizes the components of stock-based compensation expense which includes stock options and warrants in the unaudited consolidated statements of operations for the nine months ended September 30, 2021 and 2020 (rounded to nearest $00): Nine Nine Research and development $ 14,341,700 $ 4,635,300 General and administrative 18,033,500 12,951,200 Total $ 32,375,200 $ 17,586,500

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 - RELATED PARTY TRANSACTIONS Effective March 6, 2020, Dr. Ottavio Vitolo, the Company’s Chief Medical Officer and Head of Research and Development, entered into a Separation and Severance Agreement with the Company. Pursuant to the terms of the agreement, the Company agreed to pay Dr. Vitolo severance of $200,000 in accordance with his employment contract. In addition, Dr. Vitolo’s options granted under the Company’s 2014 Stock Option and Equity Incentive Plan continued to vest until September 6, 2020. Dr. Vitolo had until March 6, 2021 to exercise his vested options and he was allowed to use a cashless exercise provision to exercise his vested options. On March 6, 2021, the remaining vested options were forfeited. The agreement also contains customary confidentiality, release, and non-disparagement provisions, and the Company agreed to pay accrued and unpaid salary, vacation time and attorney’s fees totaling approximately $45,000. Effective December 31, 2020, Dr. Thomas Wessel, the Company’s Executive Vice President, Head of Research and Development, entered into a Separation and Severance Agreement with the Company. Pursuant to the terms of the agreement, the Company agreed to pay Dr. Wessel severance of $237,500 in accordance with his employment contract. In addition, Dr. Wessel’s options granted under the Company’s 2014 Stock Option and Equity Incentive Plan continue to vest until June 30, 2021. Dr. Wessel shall have until December 31, 2021 to exercise his vested options and he shall be allowed to use a cashless exercise provision to exercise his vested options. The agreement also contains customary confidentiality, release, and non-disparagement provisions, and the Company agreed to pay accrued vacation time totaling approximately $28,940.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 - COMMITMENTS AND CONTINGENCIES License Agreements Wonpung On August 20, 2007, the Company entered into a License Development and Commercialization Agreement with Wonpung Mulsan Co, a shareholder of the Company. Wonpung has exclusive territorial rights in countries it selects in Asia to market up to two drugs the Company is currently developing and a right of first refusal (“ROFR”) for up to an additional five drugs that the Company may develop in the future as defined in more detail in the license agreement. If the parties cannot agree to terms of a license agreement then the Company shall be able to engage in discussions with other potential licensors. As of November 12, 2021, no discussions are active between the Company and Wonpung. The Company received an upfront license fee of $1,500,000 and will earn royalties of up to 12% of net sales for up to two licensed products it is currently developing. The licensing terms for the ROFR products are subject to future negotiations and binding arbitration. The terms of each licensing agreement will expire on the earlier of any time from 15 years to 20 years after licensing or on the date of commercial availability of a generic product to such licensed product in the licensed territory. Third Party Licensor Based upon a prior acquisition, the Company assumed an obligation to pay third parties (Dr. Charles E. Inturrisi and Dr. Paolo Manfredi – see below): (A) royalty payments up to 2% on net sales of licensed products that are not sold by sublicensee and (B) on each and every sublicense earned royalty payment received by licensee from its sublicensee on sales of license product by sublicensee, the higher of (i) 20% of the royalties received by licensee; or (ii) up to 2% of net sales of sublicensee. The Company will also make milestone payments of up to $4 or $2 million, for the first commercial sale of product in the field that has a single active pharmaceutical ingredient, and for the first commercial sale of product in the field of product that has more than one active pharmaceutical ingredient, respectively. As of September 30, 2021, the Company has not generated any revenue related to this license agreement. Inturrisi / Manfredi In January 2018, we entered into an Intellectual Property Assignment Agreement (the Assignment Agreement) and License Agreement (the License Agreement and together with the Assignment Agreement, the Agreements) with Dr. Charles E. Inturrisi and Dr. Paolo Manfredi (collectively, the Licensor). Pursuant to the Agreements, Relmada assigned its existing rights, including patents and patent applications, to d-methadone in the context of psychiatric use (the Existing Invention) to Licensor. Licensor then granted Relmada under the License Agreement a perpetual, worldwide, and exclusive license to commercialize the Existing Invention and certain further inventions regarding d-methadone. In consideration of the rights granted to Relmada under the License Agreement, Relmada paid the Licensor an upfront, non-refundable license fee of $180,000. Additionally, Relmada will pay Licensor $45,000 every three months until the earliest to occur of the following events: (i) the first commercial sale of a licensed product anywhere in the world, (ii) the expiration or invalidation of the last to expire or be invalidated of the patent rights anywhere in the world, or (iii) the termination of the License Agreement. Relmada will also pay Licensor tiered royalties with a maximum rate of 2%, decreasing to 1.75%, and 1.5% in certain circumstances, on net sales of licensed products covered under the License Agreement. Relmada will also pay Licensor tiered payments up to a maximum of 20%, and decreasing to 17.5%, and 15% in certain circumstances, of all consideration received by Relmada for sublicenses granted under the License Agreement. As of September 30, 2021, no events have occurred, and the Company continues to pay Licensor $45,000 every three months. Arbormentis, LLC On July 16, 2021, the Company entered into a License Agreement with Arbormentis, LLC, a privately held Delaware limited liability company, by which the Company acquired development and commercial rights to a novel psilocybin and derivate program from Arbormentis, LLC, worldwide excluding the countries of Asia. The Company will collaborate with Arbormentis, LLC on the development of new therapies targeting neurological and psychiatric disorders, leveraging its understanding of neuroplasticity, and focusing on this emerging new class of drugs targeting the neuroplastogen mechanism of action. Under the terms of the License Agreement, the Company paid Arbormentis, LLC an upfront fee of $12.7 million, consisting of a mix of cash and warrants to purchase the Company’s common stock, in addition to potential milestone payments totaling up to approximately $160 million . Arbormentis, LLC is also eligible to receive a low single digit royalty on net sales of any commercialized therapy resulting from this agreement. The license agreement is terminable by the Company but is perpetual and not terminable by the licensor absent material breach of its terms by the Company. The new licensed program stems from an international collaboration among U.S., European and Swiss scientists that has focused on the discovery and development of compounds that may promote neural plasticity. Dr. Paolo Manfredi, Relmada’s Acting Chief Scientific Officer and co-inventor of REL-1017, and Dr. Marco Pappagallo, Relmada’ s Acting Chief Medical Officer, are among the scientists affiliated with Arbormentis, LLC. Legal From time to time, the Company may become involved in lawsuits and other legal proceedings that arise in the course of business. Litigation is subject to inherent uncertainties, and it is not possible to predict the outcome of litigation with total confidence. The Company is currently not aware of any legal proceedings or potential claims against it whose outcome would be likely, individually or in the aggregate, to have a material adverse effect on the Company’s business, financial condition, operating results, or cash flows. Lawsuit Brought by Previous Employee On July 15, 2020, an employee of the Company filed a Complaint alleging unequal pay based on gender and other employment-based claims. On April 9, 2021, the Company settled this Complaint for an amount immaterial to the consolidated financial statements. Leases and Sublease On August 1, 2021, the Company relocated its corporate headquarters to 2222 Ponce de Leon, Floor 3, Coral Gables, FL 33134, pursuant to a lease agreement for a period of 4 months. The Company’s previous lease at 880 Third Avenue, 12 th Leases On June 8, 2017, the Company entered into an Amended and Restated License Agreement with Actinium Pharmaceuticals, Inc. Pursuant to the terms of the agreement, Actinium will continue to license the furniture, fixtures, equipment and tenant improvements located in its office (“FFE”) for a license fee of $7,529 per month until December 8, 2022. Actinium shall have at any time during the term of this agreement the right to purchase the FFE for $496,914, less any previously paid license fees. The license of FFE qualifies as a sales-type lease. At inception, the Company derecognized the underlying assets of $493,452, recognized discounted lease payments receivable of $397,049 using the discount rate of 8.38% and recognized loss on sales-type lease of fixed assets of $96,403. For the nine months ended September 30, 2021 and 2020, the Company recognized lease income of approximately $8,800 and $13,500, respectively. As of September 30, 2021, the balance of unearned interest income was approximately $6,100. Contractual Obligations The following tables sets forth our contractual obligations for the next five years and thereafter: Total Less than 1 - 2 3 - 5 More than Office lease $ 33,000 $ 33,000 $ - $ - $ - Total obligations $ 33,000 $ 33,000 $ - $ - $ -

Other Post-Retirement Benefit P

Other Post-Retirement Benefit Plan	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
OTHER POST-RETIREMENT BENEFIT PLAN	NOTE 9 - OTHER POST-RETIREMENT BENEFIT PLAN Relmada participates in a multiemployer 401(k) plan that permits eligible employees to contribute funds on a pretax basis subject to maximum allowed under federal tax provisions. The Company matches 100% of the first 3% of employee contributions, plus 50% of employee contributions that exceed 3% but do not exceed 5%. The employees choose an amount from various investment options for both their contributions and the Company’s matching contribution. The Company’s contribution expense was approximately $101,100 and $58,500 for the nine months ended September 30, 2021 and 2020, respectively.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10 - SUBSEQUENT EVENTS Subsequent to September 30, 2021, 29,276 outstanding warrants were exercised for total cash proceeds of approximately $178,170. On October 1, 2021, the Company awarded a total of 42,000 warrants to a consultant with an exercise price of $26.74 and a 10-year term, vesting over a 4-year period.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim unaudited condensed consolidated financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. The unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited condensed consolidated financial statements of the Company for the year ended December 31, 2020 and notes thereto contained in the Company’s Annual Report on Form 10-K.
Liquidity	Liquidity As shown in the accompanying financial statements, the Company incurred negative operating cash flows of $54,213,231 for the nine months ended September 30, 2021 and has an accumulated deficit of $270,688,619 from inception through September 30, 2021. At September 30, 2021, the Company had cash and short term investments of $88,087,096. Relmada has funded its past operations through equity raises and most recently in 2021 raised net proceeds from the sale of common stock of $23,416,036 through our ATM offering and $2,116,969 through the exercise of warrants. The Company also raised an additional $569,427 during the nine months ended September 30, 2021 from the exercises of options. Management believes that the Company’s existing cash and cash equivalents will enable it to fund operating expenses and capital expenditure requirements for at least 12 months from the issuance of these unaudited condensed consolidated quarterly financial statements. Beyond that point management will evaluate the size and scope of any subsequent trials that will affect the timing of additional financings through public or private sales of equity or debt securities or from bank or other loans or through strategic collaboration and/or licensing agreements. Any such expenditures related to any subsequent trials will not be incurred until such additional financing is raised. Further, additional financing related to subsequent trials does not affect the Company’s conclusion that based on the cash on hand and the budgeted cash flow requirements, the Company has sufficient funds to maintain operations for at least 12 months from the issuance of these consolidated financial statements.
Principles of Consolidation	Principles of Consolidation The unaudited condensed consolidated financial statements include the Company’s accounts and those of the Company’s wholly-owned subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation.
Risks and Uncertainties	Risks and Uncertainties The ongoing pandemic may adversely affect our business. Based on the Company’s current assessment, the Company does not expect any material impact on its long-term development timeline and its liquidity due to the worldwide spread of the coronavirus (COVID-19). However, the Company is actively monitoring this situation and the possible effects on its financial condition, liquidity, operations, suppliers, industry, and workforce.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. The significant estimates are the valuation of research and development expenses, stock-based compensation expenses and deferred tax assets and the related valuation allowance.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers cash deposits and all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company’s cash deposits are held at two high-credit-quality financial institutions. The Company’s cash deposits at these institutions exceed federally insured limits.
Short-term Investments	Short-term Investments The Company’s investments consist entirely of mutual funds. The securities are measured at fair value based on the net asset value (NAV). The Company adopted Financial Accounting Standards Board (FASB) Accounting Standard Update (ASU) 2016-01, Financial Instruments
Patents	Patents Costs related to filing and pursuing patent applications are recorded as general and administrative expense and expensed as incurred since recoverability of such expenditures is uncertain.
Fixed Assets	Fixed Assets
Leases	Leases The Company recognizes its leases with a term of greater than a year on the balance sheet by recording right-of-use assets and lease liabilities. Leases can be classified as either operating leases or finance leases. Operating leases will result in straight-line lease expense, while finance leases will result in front-loaded expense. The Company’s lease consists of an operating lease for office space. The Company does not recognize a lease liability or right-of-use asset on the balance sheet for short-term leases. Instead, the Company recognizes short-term lease payments as an expense on a straight-line basis over the lease term. A short-term lease is defined as a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments primarily include cash, short term investments, and accounts payable. Due to the short-term nature of cash and accounts payable the carrying amounts of these assets and liabilities approximate their fair value. Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability (an exit price), in an orderly transaction between market participants at the reporting date. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The Company’s short-term investment instruments of $76,637,802 at September 30, 2021 consist of mutual funds, bank deposits and money market funds and are classified using Level 1 inputs within the fair value hierarchy because the value is based on quoted prices in active markets. Unrealized gains and losses are recorded in the condensed consolidated statement of operations under other income. The Company recorded an unrealized gain/(loss) of $86,745 and $(379,699) included in other income for the three and nine months ended September 30, 2021, respectively. The Company recorded an unrealized gain of $3,946 and $290,973 included in other income for the three and nine months ended September 30, 2020, respectively.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of September 30, 2021 and December 31, 2020, the Company had recognized a valuation allowance to the full extent of the Company’s net deferred tax assets since the likelihood of realization of the benefit does not meet the more likely than not threshold. The Company files a U.S. Federal income tax return and various state returns. Uncertain tax positions taken on the Company’s tax returns will be accounted for as liabilities for unrecognized tax benefits. The Company will recognize interest and penalties, if any, related to unrecognized tax benefits in general and administrative expenses in the statements of operations. There were no liabilities recorded for uncertain tax positions at September 30, 2021 and December 31, 2020. The open tax years, subject to potential examination by the applicable taxing authority, for the Company are from June 30, 2018 forward.
Research and Development	Research and Development Research and development costs primarily consist of research contracts for the advancement of product development, salaries and benefits, stock-based compensation, and consultants. The Company expenses all research and development costs in the period incurred. The Company makes an estimate of costs in relation to clinical study contracts. The Company analyzes the progress of studies, including the progress of clinical studies, invoices received and contracted costs when evaluating the adequacy of the amount expensed and the related prepaid asset and accrued liability.
Stock-Based Compensation	Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award - the requisite service period. The grant-date fair value of employee share options is estimated using the Black-Scholes option pricing model adjusted for the unique characteristics of those instruments.
Net Loss per Common Share	Loss per Common Share Basic loss per common share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted loss per common share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method. Dilutive common stock equivalents are comprised of options and warrants to purchase common stock. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position. For the nine months ended September 30, 2021 and 2020, the potentially dilutive securities that would be anti-dilutive due to the Company’s net loss are not included in the calculation of diluted net loss per share attributable to common stockholders. The anti-dilutive securities are as follows (in common stock equivalent shares): Nine months ended September 30, September 30, Stock options 5,043,931 4,110,425 Common stock warrants 3,244,248 2,674,265 Total 8,288,179 6,784,690
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)
Subsequent Events	Subsequent Events The Company’s management reviewed all material events through the date the financial statements were issued for subsequent event disclosure consideration.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of anti-dilutive securities	Nine months ended September 30, September 30, Stock options 5,043,931 4,110,425 Common stock warrants 3,244,248 2,674,265 Total 8,288,179 6,784,690

Prepaid Expenses (Tables)

Prepaid Expenses (Tables)	9 Months Ended
	Sep. 30, 2021
Prepaid Expenses [Abstract]
Schedule of prepaid expenses	September 30, December 31, Insurance $ 542,000 $ 527,600 Research and Development 2,025,600 291,800 Legal 11,000 11,000 Other 136,900 72,800 Total $ 2,715,500 $ 903,200

Fixed Assets (Tables)

Fixed Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of fixed assets	Useful September 30, December 31, Computer and Software 3 years $ 16,700 $ 16,700 Less: accumulated depreciation (16,700 ) (15,400 ) Fixed Assets $ - $ 1,300

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Schedule of accrued expenses	September 30, December 31, Research and development $ 3,977,500 $ 2,183,800 Professional fees 174,200 150,900 Accrued bonus 867,000 1,444,900 Accrued vacation 413,500 351,200 Other 106,600 126,200 Total $ 5,538,800 $ 4,257,000

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of the changes in outstanding warrants	Number Weighted Weighted Aggregate Outstanding and expected to vest at December 31, 2020 3,905,737 $ 24.32 8.40 $ 48,952,339 Granted 1,515,000 $ 33.46 9.28 $ - Exercised (160,556 ) $ 3.56 - $ - Forfeited (216,250 ) $ 39.61 - $ - Outstanding at September 30, 2021 5,043,931 $ 27.07 8.18 $ 33,664,009 Options exercisable at September 30, 2021 2,079,396 $ 22.59 7.54 $ 21,827,709
Schedule of the changes in outstanding warrants	Number of Weighted Outstanding and vested at December 31, 2020 2,670,633 $ 9.11 Granted 930,000 $ 32.21 Exercised (356,385 ) $ 5.94 Outstanding at September 30, 2021 3,244,248 $ 16.08 Warrants Vested at September 30, 2021 2,829,873 $ 8.13
Schedule of stock-based compensation expense	Nine Nine Research and development $ 14,341,700 $ 4,635,300 General and administrative 18,033,500 12,951,200 Total $ 32,375,200 $ 17,586,500

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum lease payments to be received	Total Less than 1 - 2 3 - 5 More than Office lease $ 33,000 $ 33,000 $ - $ - $ - Total obligations $ 33,000 $ 33,000 $ - $ - $ -

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Summary of Significant Accounting Policies (Details) [Line Items]
Negative operating cash flows			$ 54,213,231
Accumulated deficit	$ 270,688,619		270,688,619
Cash and short term investments	88,087,096		$ 88,087,096
Estimated useful life			3 years
Short-term investments	76,637,802		$ 76,637,802		$ 114,595,525
Unrealized loss	86,745	$ 3,946	(379,699)	$ 290,973
Common Stock [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Net proceeds			23,416,036
ATM offering costs	2,116,969		2,116,969
Exercises of options	$ 569,427		$ 569,427

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of anti-dilutive securities - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	8,288,179	6,784,690
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,043,931	4,110,425
Common stock warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,244,248	2,674,265

Prepaid Expenses (Details) - Sc

Prepaid Expenses (Details) - Schedule of prepaid expenses - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Schedule of prepaid expenses [Abstract]
Insurance	$ 542,000	$ 527,600
Research and Development	2,025,600	291,800
Legal	11,000	11,000
Other	136,900	72,800
Total	$ 2,715,500	$ 903,200

Fixed Assets (Details)

Fixed Assets (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Accounting Policies [Abstract]
Depreciation expense	$ 1,258	$ 2,929

Fixed Assets (Details) - Schedu

Fixed Assets (Details) - Schedule of fixed assets - USD ($)	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Useful lives	3 years
Computer and Software	$ 16,700	$ 16,700
Less: accumulated depreciation	(16,700)	(15,400)
Fixed Assets		$ 1,300
Computer and Software [Member]
Property, Plant and Equipment [Line Items]
Useful lives	3 years

Accrued Expenses (Details)

Accrued Expenses (Details)	Sep. 30, 2021USD ($)
Payables and Accruals [Abstract]
Accrued expenses rounded to nearest	$ 0

Accrued Expenses (Details) - Sc

Accrued Expenses (Details) - Schedule of accrued expenses - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Schedule of accrued expenses [Abstract]
Research and development	$ 3,977,500	$ 2,183,800
Professional fees	174,200	150,900
Accrued bonus	867,000	1,444,900
Accrued vacation	413,500	351,200
Other	106,600	126,200
Total	$ 5,538,800	$ 4,257,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Jul. 12, 2021	Jan. 06, 2021	May 15, 2020	Jul. 16, 2021	Jun. 25, 2021	Jun. 18, 2021	Feb. 18, 2021	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Jun. 30, 2021	May 31, 2021	Dec. 31, 2020
Stockholders' Equity (Details) [Line Items]
Issued of common stock (in Shares)								17,501,554				17,501,554			16,332,939
Exercise of options for proceeds (in Dollars)								$ 52,156	$ 105,875	$ 457,623	$ 73,020
Granting to option or stock awards (in Shares)								6,652,942				6,652,942		1,500,000
Stock options exercisable Period												10 years
Vesting period												4 years
Future grants under the Plan (in Dollars)								$ 1,609,011				$ 1,609,011
Total warrants shares (in Shares)	10,000			500,000	10,000	10,000
Exercise price per share (in Dollars per share)	$ 34.77			$ 31.17	$ 34.35	$ 30.9	$ 35.15
Term year	5 years			7 years	5 years	5 years	10 years
Vasting period	1 year				1 year	1 year	4 years
Aggregate fair value of options (in Dollars)	$ 212,219			$ 10,241,599	$ 211,653	$ 190,401
Discount rate	0.43%			0.48%	0.43%	0.47%
Expected life term	3 years			3 years 6 months	3 years	3 years
Expected volatility rate	99.00%			101.00%	100.00%	100.00%
Expected dividends rate	0.00%			0.00%	0.00%	0.00%
performance metrics for options (in Shares)												468,000
Incurred expense (in Dollars)								$ 2,268,562				$ 2,268,562
Awarded Options to an employee (in Shares)							25,000
Unrecognized stock-based compensation expenses												67 years 7 months 6 days
Weighted average remaining service period								2 years 9 months 3 days				2 years 9 months 3 days
Unrecognized compensation expense (in Dollars)												$ 12,500,000
Aggregate intrinsic value of warrants vested (in Dollars)								$ 40,000,000				40,000,000			$ 61,000,000
Aggregate intrinsic value (in Dollars)								$ 40,100,000				$ 40,100,000			$ 61,200,000
Employees and Directors [Member]
Stockholders' Equity (Details) [Line Items]
Total warrants shares (in Shares)		1,490,000
Exercise price per share (in Dollars per share)		$ 33.43
Term year		10 years
Vasting period		4 years
Aggregate fair value of options (in Dollars)		$ 39,700,000					$ 701,000
Discount rate		0.59%					0.75%
Expected life term		6 years 3 months					6 years 3 months
Expected volatility rate		101.00%					101.00%
Expected dividends rate		0.00%					0.00%
Jefferies LLC [Member]
Stockholders' Equity (Details) [Line Items]
Issued of common stock (in Shares)			651,674
Aggregate of offering price (in Dollars)			$ 75,000,000
Net cash proceeds (in Dollars)			23,416,036
Common Stock [Member]
Stockholders' Equity (Details) [Line Items]
Issued of common stock (in Shares)								356,385				356,385
Cash exercises of warrants for proceeds (in Dollars)												$ 2,116,969
Exercised common shares issued (in Shares)												160,556
Exercise of options for proceeds (in Dollars)								$ 12	$ 25	$ 113	$ 3	$ 569,427
Common Stock [Member] | Jefferies LLC [Member]
Stockholders' Equity (Details) [Line Items]
Net cash proceeds (in Dollars)			$ 19,816,597
Consultants [Member]
Stockholders' Equity (Details) [Line Items]
Total warrants shares (in Shares)		400,000
Exercise price per share (in Dollars per share)		$ 33.43
Term year		10 years
Vasting period		4 years
Aggregate fair value of options (in Dollars)		$ 10,600,000
Discount rate		0.59%
Expected life term		6 years 3 months
Expected volatility rate		101.00%
Expected dividends rate		0.00%
Performance metrics relating (in Shares)													180,000
Warrant expense (in Dollars)													$ 872,524

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Schedule of changes in options outstanding - Options [Member]	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
Stockholders' Equity (Details) - Schedule of changes in options outstanding [Line Items]
Number of Options, Outstanding and expected to vest, Beginning balance | shares	3,905,737
Weighted Average Exercise Price Per Share, Outstanding and expected to vest - Beginning balance | $ / shares	$ 24.32
Weighted Average Remaining Contractual Term (Years), Beginning balance	8 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding and expected to vest - Beginning balance | $	$ 48,952,339
Number of Options, Granted | shares	1,515,000
Weighted Average Exercise Price Per Share, Granted | $ / shares	$ 33.46
Weighted Average Remaining Contractual Term (Years), Granted	9 years 3 months 10 days
Number of Options, Exercised | shares	(160,556)
Weighted Average Exercise Price Per Share, Exercised | $ / shares	$ 3.56
Weighted Average Remaining Contractual Term (Years), Exercised
Aggregate Intrinsic Value, Outstanding and expected to vest, Exercised | $
Number of Options, Forfeited | shares	(216,250)
Weighted Average Exercise Price Per Share, Forfeited | $ / shares	$ 39.61
Weighted Average Remaining Contractual Term (Years), Forfeited
Aggregate Intrinsic Value, Outstanding and expected to vest, Forfeited | $
Number of Options, Outstanding and expected to vest, Ending balance | shares	5,043,931
Weighted Average Exercise Price Per Share, Outstanding and expected to vest, Ending balance | $ / shares	$ 27.07
Weighted Average Remaining Contractual Term (Years), Ending balance	8 years 2 months 4 days
Aggregate Intrinsic Value, Outstanding and expected to vest, Ending balance | $	$ 33,664,009
Number of Options, Options exercisable | shares	2,079,396
Weighted Average Exercise Price Per Share, Options exercisable | $ / shares	$ 22.59
Weighted Average Remaining Contractual Term (Years), Options exercisable	7 years 6 months 14 days
Aggregate Intrinsic Value, Options exercisable | $	$ 21,827,709

Stockholders' Equity (Details_2

Stockholders' Equity (Details) - Schedule of the changes in outstanding warrants	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Schedule of the changes in outstanding warrants [Abstract]
Number of Shares, Outstanding and vested, Beginning balance | shares	2,670,633
Weighted Average Exercise Price Per Share, Outstanding and vested, Beginning balance | $ / shares	$ 9.11
Number of Shares, Granted | shares	930,000
Weighted Average Exercise Price Per Share, Granted | $ / shares	$ 32.21
Number of Shares, Exercised | shares	(356,385)
Weighted Average Exercise Price Per Share, Exercised | $ / shares	$ 5.94
Number of Shares, Outstanding and vested, Ending balance | shares	3,244,248
Weighted Average Exercise Price Per Share, Outstanding and vested, Ending balance | $ / shares	$ 16.08
Number of Shares, Warrants Vested | shares	2,829,873
Weighted Average Exercise Price Per Share, Warrants Vested | $ / shares	$ 8.13

Stockholders' Equity (Details_3

Stockholders' Equity (Details) - Schedule of stock-based compensation expense - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 32,375,200	$ 17,586,500
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	14,341,700	4,635,300
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 18,033,500	$ 12,951,200

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Mar. 06, 2021	Mar. 06, 2020	Dec. 31, 2020	Sep. 30, 2021
Dr. Vitolo [Member]
Related Party Transactions (Details) [Line Items]
severance fees		$ 200,000
Attorneys fees	$ 45,000
Dr.Wessel [Member]
Related Party Transactions (Details) [Line Items]
severance fees			$ 237,500
Accrued vacation fees				$ 28,940

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)	Jul. 16, 2021	Jun. 08, 2017	Jan. 31, 2018	Sep. 30, 2021	Sep. 30, 2020
Commitments and Contingencies (Details) [Line Items]
Pay licensor				$ 45,000
License agreement, description	the Company paid Arbormentis, LLC an upfront fee of $12.7 million, consisting of a mix of cash and warrants to purchase the Company’s common stock, in addition to potential milestone payments totaling up to approximately $160 million related to pre-specified development and commercialization milestones. Arbormentis, LLC is also eligible to receive a low single digit royalty on net sales of any commercialized therapy resulting from this agreement. The license agreement is terminable by the Company but is perpetual and not terminable by the licensor absent material breach of its terms by the Company.
Lease expenses				87,100	$ 124,400
Lease income				8,800	$ 13,500
Unearned interest income				6,100
FFE [Member]
Commitments and Contingencies (Details) [Line Items]
Description of lease agreement		Actinium will continue to license the furniture, fixtures, equipment and tenant improvements located in its office (“FFE”) for a license fee of $7,529 per month until December 8, 2022. Actinium shall have at any time during the term of this agreement the right to purchase the FFE for $496,914, less any previously paid license fees. The license of FFE qualifies as a sales-type lease. At inception, the Company derecognized the underlying assets of $493,452, recognized discounted lease payments receivable of $397,049 using the discount rate of 8.38% and recognized loss on sales-type lease of fixed assets of $96,403.
Licensing Agreements [Member] | Wonpung [Member]
Commitments and Contingencies (Details) [Line Items]
License agreement				$ 1,500,000
Net sales rate				12.00%
Licensing Agreements [Member] | Wonpung [Member] | Business Combination [Member]
Commitments and Contingencies (Details) [Line Items]
Business acquisition, description				(A) royalty payments up to 2% on net sales of licensed products that are not sold by sublicensee and (B) on each and every sublicense earned royalty payment received by licensee from its sublicensee on sales of license product by sublicensee, the higher of (i) 20% of the royalties received by licensee; or (ii) up to 2% of net sales of sublicensee. The Company will also make milestone payments of up to $4 or $2 million, for the first commercial sale of product in the field that has a single active pharmaceutical ingredient, and for the first commercial sale of product in the field of product that has more than one active pharmaceutical ingredient, respectively. As of September 30, 2021, the Company has not generated any revenue related to this license agreement.
Licensing Agreements [Member]
Commitments and Contingencies (Details) [Line Items]
Description of rights granted to license agreement			In consideration of the rights granted to Relmada under the License Agreement, Relmada paid the Licensor an upfront, non-refundable license fee of $180,000. Additionally, Relmada will pay Licensor $45,000 every three months until the earliest to occur of the following events: (i) the first commercial sale of a licensed product anywhere in the world, (ii) the expiration or invalidation of the last to expire or be invalidated of the patent rights anywhere in the world, or (iii) the termination of the License Agreement. Relmada will also pay Licensor tiered royalties with a maximum rate of 2%, decreasing to 1.75%, and 1.5% in certain circumstances, on net sales of licensed products covered under the License Agreement. Relmada will also pay Licensor tiered payments up to a maximum of 20%, and decreasing to 17.5%, and 15% in certain circumstances, of all consideration received by Relmada for sublicenses granted under the License Agreement.
Lease expenses				$ 11,000
Minimum [Member] | Licensing Agreements [Member]
Commitments and Contingencies (Details) [Line Items]
Term of licensing agreement				15 years
Maximum [Member] | Licensing Agreements [Member]
Commitments and Contingencies (Details) [Line Items]
Term of licensing agreement				20 years

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of future minimum lease payments to be received	Sep. 30, 2021USD ($)
Commitments and Contingencies (Details) - Schedule of future minimum lease payments to be received [Line Items]
Contractual obligations due less than 1 year	$ 33,000
Contractual obligations due in 1-2 years
Contractual obligations due in 3-5 years
Contractual obligations due in more than 5 years
Total obligations	33,000
Office lease [Member]
Commitments and Contingencies (Details) - Schedule of future minimum lease payments to be received [Line Items]
Contractual obligations due less than 1 year	33,000
Contractual obligations due in 1-2 years
Contractual obligations due in 3-5 years
Contractual obligations due in more than 5 years
Total obligations	$ 33,000

Other Post-Retirement Benefit_2

Other Post-Retirement Benefit Plan (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Retirement Benefits [Abstract]
Employee contributions, description	The Company matches 100% of the first 3% of employee contributions, plus 50% of employee contributions that exceed 3% but do not exceed 5%.
Employee contribution expense	$ 101,100	$ 58,500

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Oct. 01, 2021	Sep. 30, 2021
Subsequent Events (Details) [Line Items]
Outstanding warrants were exercised		29,276
Cash proceeds		$ 178,170
Vesting period		4 years
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Warrants issued	42,000
Warrants exercise price	$ 26.74
Warrants term	10 years
Vesting period	4 years