Relmada Therapeutics (RLMD) 10-K 25 Mar 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 21, 2022	Jun. 30, 2021
Document Information Line Items
Entity Registrant Name	Relmada Therapeutics, Inc.
Trading Symbol	RLMD
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		29,369,490
Entity Public Float			$ 547,451,729
Amendment Flag	false
Entity Central Index Key	0001553643
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	false
Document Annual 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 Blvd
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 ($.001 par value)
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Auditor Firm ID	688
Auditor Name	Marcum llp
Auditor Location	Houston, Texas

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 44,443,439	$ 2,495,397
Short-term investments	167,466,167	114,595,525
Lease payments receivable – short term	86,377	79,457
Prepaid expenses	11,301,535	903,190
Total current assets	223,297,518	118,073,569
Fixed assets, net of accumulated depreciation		1,258
Other assets	28,293	25,000
Lease payments receivable – long term		86,377
Total assets	223,325,811	118,186,204
Commitments and Contingencies (Note 9)
Current liabilities:
Accounts payable	11,192,502	8,346,475
Accrued expenses	3,868,423	4,256,983
Total current liabilities	15,060,925	12,603,458
Total liabilities	15,060,925	12,603,458
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, 27,740,147 and 16,332,939 shares issued and outstanding, respectively	27,740	16,333
Additional paid-in capital	513,304,258	284,881,716
Accumulated deficit	(305,067,112)	(179,315,303)
Total stockholders’ equity	208,264,886	105,582,746
Total liabilities and stockholders’ equity	$ 223,325,811	$ 118,186,204

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
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	27,740,147	16,332,939
Common stock, shares outstanding	27,740,147	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

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating expenses:
Research and development	$ 90,621,570	$ 35,972,731
General and administrative	35,081,922	24,865,942
Total operating expenses	125,703,492	60,838,673
Loss from operations	(125,703,492)	(60,838,673)
Other income (expenses):
Interest/investment income, net	1,199,077	1,399,225
Realized loss on short-term investments	(636,012)	(156,213)
Unrealized (loss) gain on short-term investments	(611,382)	139,267
Total other (expenses) income, net	(48,317)	1,382,279
Net loss	$ (125,751,809)	$ (59,456,394)
Net loss per common share – basic and diluted (in Dollars per share)	$ (7.16)	$ (3.81)
Weighted average number of common shares outstanding – basic and diluted (in Shares)	17,552,738	15,594,228

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity - 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 expense		20,777,272		20,777,272
Equity offering, net	$ 428	19,791,216		19,791,644
Equity offering, net (in Shares)	427,700
Warrants exercised	$ 1,160	8,055,256		8,056,416
Warrants exercised (in Shares)	1,159,989
Cashless exercise of warrants	$ 42	(42)
Cashless exercise of warrants (in Shares)	42,475
Options exercised	$ 156	735,358		735,514
Options exercised (in Shares)	155,558
Cashless exercise of options	$ 90	(90)
Cashless exercise of options (in Shares)	90,204
Net loss			(59,456,394)	(59,456,394)
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 expense		40,494,476		40,494,476
ATM offering, net	$ 652	23,415,384		23,416,036
ATM offering, net (in Shares)	651,674
Equity offering, net	$ 10,147	161,216,798		161,226,945
Equity offering, net (in Shares)	10,147,059
Warrants exercised	$ 433	2,627,628		2,628,061
Warrants exercised (in Shares)	433,856
Options exercised	$ 175	668,256		668,431
Options exercised (in Shares)	174,619
Net loss			(125,751,809)	(125,751,809)
Balance at Dec. 31, 2021	$ 27,740	$ 513,304,258	$ (305,067,112)	$ 208,264,886
Balance (in Shares) at Dec. 31, 2021	27,740,147

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net loss	$ (125,751,809)	$ (59,456,394)
Depreciation expense	1,258	3,752
Stock-based compensation	40,494,476	20,777,272
Realized loss on short-term investments	636,012	156,213
Unrealized loss (gain) on short-term investments	611,382	(139,267)
Change in operating assets and liabilities:
Lease payment receivable	79,457	73,091
Prepaid expenses and other assets	(10,401,638)	(479,327)
Accounts payable	2,846,027	7,823,812
Accrued expenses	(388,560)	3,432,047
Net cash used in operating activities	(91,873,395)	(27,808,801)
Cash flows from investing activities
Purchase of short-term investments	(222,981,675)	(182,051,630)
Sale of short-term investments	168,863,639	147,603,982
Net cash used in investing activities	(54,118,036)	(34,447,648)
Cash flows from financing activities
Principal payments of notes payable		(110,247)
Proceeds from issuance of common stock	184,642,981	19,791,644
Proceeds from options exercised for common stock	668,431	735,514
Proceeds from warrants exercised for common stock	2,628,061	8,056,416
Net cash provided by financing activities	187,939,473	28,473,327
Net increase (decrease) in cash and cash equivalents	41,948,042	(33,783,122)
Cash and cash equivalents at beginning of the period	2,495,397	36,278,519
Cash and cash equivalents at end of the period	44,443,439	2,495,397
Cash paid during the period for:
Interest		2,415
Non-cash investing and financing transactions:
Cashless exercise of warrants for common stock		42
Cashless exercise of options for common stock		$ 90

Business

Business	12 Months Ended
	Dec. 31, 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	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying 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). The 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. Liquidity As shown in the accompanying consolidated financial statements, the Company incurred negative operating cash flows of $91,873,395 for the year ended December 31, 2021 and has an accumulated deficit of $305,067,112 from inception through December 31, 2021. Relmada has funded its past operations through equity raises and most recently in the year ended December 31, 2021, the Company raised net proceeds of $184,642,981 from the sale of common stock through an underwritten equity and an ATM offering, $2,628,061 through the exercise of warrants and $668,431 through the exercise of options. Management believes that the Company’s existing cash and cash equivalents will enable them to fund operating expenses and capital expenditure requirements for at least 12 months from the issuance of these consolidated financial statements. Beyond that point management will evaluate the size and scope of any subsequent operations and clinical 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 clinical 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. 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 stock-based compensation expenses, and recorded amounts related to income taxes. 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 balance of $44,443,439 at December 31, 2021 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 has adopted FASB ASU 2016-01, Financial Instruments, for the year ended December 31, 2021 which requires substantially all equity investments in nonconsolidated entities to be measured at fair value with recurring changes recognized in earnings, except for those accounted for using equity method accounting. Changes in fair value of the securities are recorded as part of other income on the consolidated statement of operations. Short term investment activity is presented in the investing activities section on the consolidated statement of cash flows. Short-term investments at December 31, 2021 consisted of mutual funds with a fair value of $167,466,167. 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 their 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 leases 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 derivative liabilities 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. Derivatives are recorded at fair value at each period end. 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 $167,466,167 at December 31, 2021 are classified using Level 1 inputs within the fair value hierarchy because they are valued using NAV. Unrealized gains and losses are recorded in the consolidated statement of operations as unrealized gain on short-term investments. The Company recorded an unrealized loss of $611,382 and an unrealized gain of $139,267, included in other income (expense) for the years ended December 31, 2021 and 2020, respectively. Fair Value on a Recurring Basis As required by Accounting Standard Codification (ASC) Topic No. 820 - 10 Fair Value Measurement 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. At December 31, 2021 and 2020, the Company had recorded 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 our 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 December 31, 2021 and 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 and phases, 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 net 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 net 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 Class A convertible preferred stock, Series A preferred stock, 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 losses in each period. 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): Year ended Year ended 2021 2020 Common stock warrants 3,208,777 2,670,633 Common stock options 10,330,622 3,905,737 Total 13,539,399 6,576,370 Subsequent Events The Company’s management reviewed all material events through the date the financial statements were issued for subsequent event disclosure consideration. Recent Accounting Pronouncements In November 2021, the FASB issued ASU 2021-10, “ Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance In October 2021, the FASB issued ASU 2021-08, “ Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers 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) In December 2019, the FASB issued ASU 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes COVID-19 During March 2020, a global pandemic was declared by the World Health Organization related to the rapidly growing outbreak of a novel strain of coronavirus (COVID-19). The COVID-19 pandemic did not significantly impact the Company. The Company continues to monitor the COVID-19 related concerns and the related economic impacts.

Prepaid Expenses

Prepaid Expenses	12 Months Ended
	Dec. 31, 2021
Prepaid Expenses [Abstract]
PREPAID EXPENSES	NOTE 3 - PREPAID EXPENSES Prepaid expenses consisted of the following (rounded to nearest $00): December 31, December 31, Insurance $ 353,300 $ 527,600 Research and Development 10,708,800 291,800 Legal 11,000 11,000 Other 228,400 72,800 Total $ 11,301,500 $ 903,200

Fixed Assets

Fixed Assets	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
FIXED ASSETS	NOTE 4 - FIXED ASSETS Fixed assets consisted of the following (rounded to nearest $00): Useful lives December 31, December 31, Computer and software 3 years $ 16,700 $ 16,700 Less: accumulated depreciation (16,700 ) (15,400 ) Fixed assets, net $ - $ 1,300 For the years ended December 31, 2021 and 2020, the Company recognized depreciation expense of $1,258 and $3,752, respectively.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
ACCRUED EXPENSES	NOTE 5 - ACCRUED EXPENSES Accrued expenses consisted of the following (rounded to nearest $00): December 31, December 31, Research and development $ 1,928,000 $ 2,183,800 Professional fees 168,000 150,900 Accrued bonus 1,191,000 1,444,900 Accrued vacation 450,400 351,200 Other 131,000 126,200 Total $ 3,868,400 $ 4,257,000

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 6 - STOCKHOLDERS’ EQUITY Common Stock During the years ended December 31, 2021 and 2020, the Company issued 0 and 42,475 shares of common stock for cashless exercise of 0 and 60,513 warrants, respectively. During the years ended December 31, 2021 and 2020, the Company issued 433,856 and 1,159,989 shares of common stock for the exercise of warrants for proceeds of $2,628,061 and $8,056,416, respectively. During the year ended December 31, 2021 and 2020, the Company issued 0 and 90,204 shares of common stock for cashless exercise of 0 and 98,370 options, respectively. During the year ended December 31, 2021 and 2020, the Company issued 174,619 and 155,558 shares of common stock for the exercise of options for proceeds of $668,431 and 735,514, respectively. 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 years ended December 31, 2021 and 2020, the Company issued 651,674 and 427,700 shares of common stock for net cash proceeds of $23,416,036 and $19,791,644 under the agreement, respectively. On December 8, 2021, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Goldman Sachs & Co. LLC and Jefferies LLC, as representatives of the several underwriters, in connection with an underwritten public offering (the “Offering”) of 8,823,530 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) issued and sold by the Company at a price to the public of $17.00 per share (with a price to the Underwriters of $15.98 per share). Pursuant to the Underwriting Agreement, the Underwriters were granted an option for a period of 30 days to purchase from the Company up to an additional 1,323,529 During the years ended December 31, 2021 and 2020, there were no common stock shares issued for issuances of restricted common stock. Stock-based compensation - options In December 2014, the Board of Directors adopted and the shareholders approved Relmada’s 2014 Stock Option and Equity Incentive Plan, as amended (the “2014 Plan”), which allows for the granting of 5,152,942 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 Board of Directors adopted and shareholders approved the Company’s 2021 Equity Incentive Plan (the “2021 Plan”), which allowed for the granting of 1,500,000 options or other stock awards. These combined plans allowed for the granting of up to 6,652,942 options or other stock awards. Stock options are exercisable generally for a period of 10 years from the date of grant and generally vest either over four years or upon achievement of certain specified corporate or other milestones. As of December 31, 2021, there were no shares available to be granted under either the 2014 or 2021 Plan. The shareholders will vote at their annual meeting in 2022 on a management proposal to increase the shares available to be issued under the 2021 Plan by 3,900,000 shares; there can be no assurance such amendment will be approved. As of December 31, 2021, options for 3,821,118 shares of common stock had been issued subject to approval by the shareholders of this amendment. If the amendment is not approved, such options will be void. The Company uses the simplified method for share-based compensation to estimate the expected term for employee option awards for share-based compensation in its option-pricing model. On December 22, 2021, the Company awarded a total of 65,000 options to various consultants with an exercise price of $21.11 and a 10-year term, vesting over a 1 to 4-year period. The options have an aggregate fair value of approximately $1.1 million, calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 1.23 – 1.31% (2) expected life of 5.5 – 6.25 years, (3) expected volatility of 96 – 98%, and (4) zero expected dividends. These awards are subject to shareholder approval of the above-described amendment to the 2021 Plan. On December 17, 2021, the Company awarded a total of 5,477,004 options to the board or directors, various employees, and consultants with an exercise price of $19.03 and a 10-year term, vesting over a 1 to 4-year period. The options have an aggregate fair value of approximately $81.6 million, calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 1.18 - 1.26% (2) expected life of 5.2 - 5.00 years, (3) expected volatility of 97 - 99%, and (4) zero expected dividends. 3,821,118 of the awards are subject to shareholder approval of the above-described amendment to the 2021 Plan. 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. 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 December 31, 2021, six performance metrics for 520,000 options were met. Vesting of such options is subject to the passage of time. At December 31, 2021, the Company incurred expense of $3,392,419 related to these options. During the year ended December 31, 2020, the Company awarded a total of 1,000,000 options to employees with exercise prices ranging from $28.00- $45.61 and a 10-year term vesting over 4-year period. The options have an aggregate fair value of $32.4 million calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.36%-0.83% (2) expected life of 6.25 years, (3) expected volatility of 101%-108%, and (4) zero expected dividends. During the year ended December 31, 2020, the Company recognized additional compensation expense of approximately $1,500,000 related to acceleration of vesting and a nominal amount related to the modification of certain options in connection with the separation and settlement agreement with Dr. Ottavio Vitolo (see note 10). During the year ended December 31, 2020, the Company recognized compensation expense of approximately $484,000 related to the extended period of time to allow for some options to vest under the separation and settlement agreement with Dr. Thomas Wessel. This was considered a Type III modification and as a result the total expense of $1.8 million previously recognized was reversed as the options would not have vested prior to the modification (see note 10). A summary of the changes in options outstanding for the years ended December 31, 2021 and 2020 is as follows: Number of Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Outstanding and expected to vest at December 31, 2019 3,615,602 $ 19.96 9.2 $ 74,837,043 Granted 1,000,000 39.50 9.3 - Exercised (253,927 ) - - - Forfeited (455,938 ) - - - Outstanding and expected to vest at December 31, 2020 3,905,737 $ 24.32 8.4 $ 48,952,339 Granted 7,057,004 21.15 9.8 - Exercised (174,619 ) - - - Forfeited (457,500 ) - - - Outstanding and expected to vest at December 31, 2021 10,330,622 $ 22.52 9.0 $ 46,088,534 Options exercisable at December 31, 2021 2,140,490 $ 20.99 7.3 $ 19,511,463 At December 31, 2021, the Company has unrecognized stock-based compensation expense of approximately $143,200,000 related to unvested stock options over the weighted average remaining service period of 2.94 years. The weighted average fair value of options granted during the years ended December 31, 2021 and 2020 was approximately $22.15 and $32.45 per share, respectively, on the date of grant using the Black-Scholes option pricing model with the following assumptions: Years Ended Years Ended December 31, December 31, 2021 2020 Risk free interest rate 0.59 to 1.31 % 0.36 to 0.83 % Dividend yield 0 % 0 % Volatility 97-101 % 101-108 % Expected term (in years) 5 to 6.25 6.25 Warrants A summary of the changes in outstanding warrants during the years ended December 31, 2021 and 2020 is as follows: Number of Shares Weighted Average Exercise Price Per Share Outstanding at December 31, 2019 3,646,870 $ 6.83 Issued 250,000 $ 33.32 Exercised (1,211,199 ) $ 7.27 Forfeited/Expired (15,040 ) $ 16.80 Outstanding at December 31, 2020 2,670,633 $ 9.11 Issued 972,000 $ 31.98 Exercised (433,856 ) $ 6.06 Outstanding at December 31, 2021 3,208,777 $ 16.45 Warrants exercisable at December 31, 2021 2,767,246 $ 13.92 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 25% after year one and 6.25% quarterly there after until 100% vested. The warrants have an aggregate fair value of $891,265 calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 1.10% (2) expected life of 6.25 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. 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 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 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 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 December 31, 2021, six performance metrics for 200,000 warrants were met. Vesting of such options is subject to the passage of time. At December 31, 2021, the Company incurred expense of $1,304,776 related to these warrants. On December 16, 2020, the Company granted 20,000 warrants to a consultant with an exercise price of $34.87, a 5-year term and vesting over 4 years. The warrants have an aggregated fair value of $479 thousand using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.37% (2) expected life of 3.75 years, (3) expected volatility of 105%, and (4) zero expected dividends On December 16, 2020, the Company granted 108,000 warrants to consultants with an exercise price of $34.87, a 5-year term and vesting based on future events. The warrants have an aggregated fair value of $2.86 million that was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.37% (2) expected life of 5 years, (3) expected volatility of 105%, and (4) zero expected dividends On April 27, 2020, the Company granted 2,000 warrants to a consultant with an exercise price of $37.67, a 5-year term and immediate vesting. The warrants have an aggregated fair value of $48 thousand that was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.27% (2) expected life of 2.5 years, (3) expected volatility of 116%, and (4) zero expected dividends. On April 1, 2020, the Company granted 120,000 warrants to consultants with an exercise price of $31.59, a 5-year term and immediate vesting. The warrants have an aggregated fair value of $2.5 million that was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.26% (2) expected life of 2.5 years, (3) expected volatility of 118%, and (4) zero expected dividends. At December 31, 2021, the Company had $12.4 million of unrecognized stock-based compensation expense related to outstanding warrants. At December 31, 2021, the aggregate intrinsic value of warrants vested and outstanding was $31.3 million. Stock-based compensation by class of expense The following summarizes the components of stock-based compensation expense which includes common stock, stock options, warrants and restricted stock in the consolidated statements of operations (rounded to nearest $00): Year Ended Year Ended December 31, December 31, 2021 2020 Research and development $ 15,835,900 $ 4,038,500 General and administrative 24,658,600 16,738,800 Total $ 40,494,500 $ 20,777,300

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 8 - INCOME TAXES No provision or benefit for federal or state income taxes has been recorded because the Company has incurred net losses for all periods presented and has recorded a valuation allowance against its deferred tax assets. The components of the Company’s deferred tax assets are as follows at: December 31, December 31, Deferred tax assets: Federal net operating loss $ 19,434,000 $ 15,227,000 State net operating loss 12,508,000 9,361,000 Research and development tax credits 5,333,000 3,407,000 Capitalized R&D 38,360,000 14,387,000 Nonqualified Stock Options 15,511,000 7,352,000 Accruals 655,000 645,000 Intangibles and Fixed Assets 4,394,000 41,000 Less: valuation allowance (96,195,000 ) (50,420,000 ) Total $ - $ - On March 27, 2020, the Coronavirus Aid Relief and Economic Security (“CARES”) Act was signed into law. The Act contains several new or changed income tax provisions, including but not limited to the following: increased limitation threshold for determining deductible interest expense, class life changes to qualified improvements (in general, from 39 years to 15 years) and the ability to carry back net operating losses (“NOLs”) incurred from tax years 2018 through 2020 up to the five preceding tax years. Most of these provisions are either not applicable or have no material effect on the Company. The Company has maintained a full valuation allowance against its deferred tax assets at December 31, 2021 and 2020. A valuation allowance is required to be recorded when it is more likely than not that some portion or all of the net deferred tax assets will not be realized. Since the Company cannot be assured of realizing the net deferred tax asset, a full valuation allowance has been provided. The valuation allowance increased/(decreased) for the years ended December 31, 2021 and 2020 by approximately $45,775,000 and $24,469,000, respectively. Deferred tax asset for net operating loss carryforwards at December 31, 2021 was adjusted with the corresponding offset to valuation allowance. At December 31, 2021, the Company had federal, New York State and New York City net operating loss (NOL) carryforwards of approximately $92,543,000, $91,755,000 and $91,371,000 respectively, which begin expiring in 2027, 2032 and 2032 respectively. Approximately $47,072,000 federal NOL can be carried forward indefinitely but it is limited to 80% of future taxable income. The Company also has federal research and development tax credit carryforwards of approximately $5,308,000 that will begin to expire in 2028. The Company's ability to use its NOL carryforwards may be limited if it experiences an "ownership change" as defined in Section 382 ("Section 382") of the Internal Revenue Code of 1986, as amended. An ownership change generally occurs if certain stockholders increase their aggregate percentage ownership of a corporation's stock by more than 50 percentage points over their lowest percentage ownership at any time during the testing period, which is generally the three-year period preceding any potential ownership change. The Company has not completed an analysis to determine whether any such limitations have been triggered as of December 31, 2021. A reconciliation of the statutory tax rate to the effective tax rate is as follows: Year Ended Year Ended Statutory federal income tax rate 21.00 % 21.00 % State (net of federal benefit) 14.22 % 15.50 % Non-deductible expenses (0.38 )% 0.42 % R&D Credit 1.53 % 3.21 % Other 0.02 % 1.01 % Change in valuation allowance (36.41 )% (41.15 )% Effective income tax rate 0 % 0 % The Company does not have any uncertain tax positions at December 31, 2021 and 2020, that would affect its effective tax rate. The Company does not anticipate a significant change in the amount of unrecognized tax benefits over the next twelve months. Because the Company is in a loss carryforward position, the Company is generally subject to US federal and state income tax examinations by tax authorities for all years for which a loss carryforward is available. If and when applicable, the Company will recognize interest and penalties as part of income tax expense.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9 - 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 March 23, 2022, 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 a third party (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 December 31, 2020, 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 esmethadone 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 esmethadone in the context of other indications such as those contemplated above. 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 December 31, 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 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. 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. Leases and Subleases On August 1, 2021, the Company relocated its corporate headquarters to 2222 Ponce de Leon Blvd., Floor 3 Coral Gables, Florida 33134 pursuant to a lease agreement with monthly rent of approximately $11,000. The lease period was for five months. The lease agreement expired on December 31, 2021 and was renewed for the calendar year 2022. As the Company’s leases consist of one lease for their corporate headquarters, which is for a period of 12 months or less. The Company has elected the practical expedient and recognizes rent expense evenly over the 12 months. The Company incurred rent expense of approximately $111,800 and $165,900 for the years ended December 31, 2021 and 2020, respectively. On June 8, 2017, the Company entered into an Amended and Restated License Agreement with Actinium. Pursuant to the terms of the agreement, Actinium will continue to license the furniture, fixtures, equipment and tenant improvements located in the 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. On June 8, 2017 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. As of December 31, 2021 and 2020, the balance of unearned interest income was approximately $4,000 and $14,900, respectively. The future minimum lease payments to be received under the lease for each year as of December 31, 2021 are as follows: 2022 $ 90,348 Total $ 90,348 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. Except as disclosed below, 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 Current 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 immaterial amount.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 10 - RELATED PARTY TRANSACTIONS Effective March 6, 2020, Dr. Vitolo entered into a Separation and Severance Agreement with the Company. Pursuant to the terms of the agreement, the Company paid Dr. Vitolo a 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 was allowed to use a cashless exercise provision to exercise his vested options. Dr. Vitolo exercised 126,562 during 2020 and the remaining options expired on March 6, 2021. The agreement also contains customary confidentiality, release, and non-disparagement provisions, and the Company paid accrued and unpaid salary, vacation time and attorney’s fees totaling approximately $45,000. Effective December 31, 2020, Dr. Wessel entered into a Separation and Severance Agreement with the Company. Pursuant to the terms of the agreement, the Company paid Dr. Wessel a 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 continued to vest until June 30, 2021. Dr. Wessel had until December 31, 2021 to exercise his vested options and was allowed to use a cashless exercise provision to exercise his vested options. All of Dr. Wessel’s options expired on December 31, 2021. The agreement also contains customary confidentiality, release, and non-disparagement provisions, and the Company paid accrued vacation time totaling approximately $28,940.

Other Postretirement Benefit Pl

Other Postretirement Benefit Plan	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
OTHER POSTRETIREMENT BENEFIT PLAN	NOTE 11 - OTHER POSTRETIREMENT 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 $112,910 and $90,692 for the years ended December 31, 2021 and 2020, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 12 - SUBSEQUENT EVENTS From January 1 st On February 7, 2022, the Company issued a total of 655,593 common shares through its ATM equity offering facility for net proceeds of $10,994,486. On March 7, 2022, the Company issued a total of 953,750 common shares through its ATM equity offering facility for net proceeds of $18,604,055. From January 1 st The Company’s lease agreement at 2222 Ponce de Leon Blvd expired on December 31, 2021 and has been renewed for calendar year 2022 for an average monthly cost of approximately $6,550.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying 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). The 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.
Liquidity	Liquidity As shown in the accompanying consolidated financial statements, the Company incurred negative operating cash flows of $91,873,395 for the year ended December 31, 2021 and has an accumulated deficit of $305,067,112 from inception through December 31, 2021. Relmada has funded its past operations through equity raises and most recently in the year ended December 31, 2021, the Company raised net proceeds of $184,642,981 from the sale of common stock through an underwritten equity and an ATM offering, $2,628,061 through the exercise of warrants and $668,431 through the exercise of options. Management believes that the Company’s existing cash and cash equivalents will enable them to fund operating expenses and capital expenditure requirements for at least 12 months from the issuance of these consolidated financial statements. Beyond that point management will evaluate the size and scope of any subsequent operations and clinical 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 clinical 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.
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 stock-based compensation expenses, and recorded amounts related to income taxes.
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 balance of $44,443,439 at December 31, 2021 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 has adopted FASB ASU 2016-01, Financial Instruments, for the year ended December 31, 2021 which requires substantially all equity investments in nonconsolidated entities to be measured at fair value with recurring changes recognized in earnings, except for those accounted for using equity method accounting. Changes in fair value of the securities are recorded as part of other income on the consolidated statement of operations. Short term investment activity is presented in the investing activities section on the consolidated statement of cash flows. Short-term investments at December 31, 2021 consisted of mutual funds with a fair value of $167,466,167.
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 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	Leases The Company recognizes their 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 leases 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 derivative liabilities 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. Derivatives are recorded at fair value at each period end. 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 $167,466,167 at December 31, 2021 are classified using Level 1 inputs within the fair value hierarchy because they are valued using NAV. Unrealized gains and losses are recorded in the consolidated statement of operations as unrealized gain on short-term investments. The Company recorded an unrealized loss of $611,382 and an unrealized gain of $139,267, included in other income (expense) for the years ended December 31, 2021 and 2020, respectively.
Fair Value on a Recurring Basis	Fair Value on a Recurring Basis As required by Accounting Standard Codification (ASC) Topic No. 820 - 10 Fair Value Measurement
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. At December 31, 2021 and 2020, the Company had recorded 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 our 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 December 31, 2021 and 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 and phases, 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	Net Loss per Common Share Basic net 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 net 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 Class A convertible preferred stock, Series A preferred stock, 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 losses in each period. 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): Year ended Year ended 2021 2020 Common stock warrants 3,208,777 2,670,633 Common stock options 10,330,622 3,905,737 Total 13,539,399 6,576,370
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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2021, the FASB issued ASU 2021-10, “ Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance In October 2021, the FASB issued ASU 2021-08, “ Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers 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) In December 2019, the FASB issued ASU 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes
COVID-19	COVID-19 During March 2020, a global pandemic was declared by the World Health Organization related to the rapidly growing outbreak of a novel strain of coronavirus (COVID-19). The COVID-19 pandemic did not significantly impact the Company. The Company continues to monitor the COVID-19 related concerns and the related economic impacts.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of anti-dilutive securities	Year ended Year ended 2021 2020 Common stock warrants 3,208,777 2,670,633 Common stock options 10,330,622 3,905,737 Total 13,539,399 6,576,370

Prepaid Expenses (Tables)

Prepaid Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Prepaid Expenses [Abstract]
Schedule of prepaid expenses	December 31, December 31, Insurance $ 353,300 $ 527,600 Research and Development 10,708,800 291,800 Legal 11,000 11,000 Other 228,400 72,800 Total $ 11,301,500 $ 903,200

Fixed Assets (Tables)

Fixed Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of fixed assets	Useful lives December 31, December 31, Computer and software 3 years $ 16,700 $ 16,700 Less: accumulated depreciation (16,700 ) (15,400 ) Fixed assets, net $ - $ 1,300

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Schedule of accrued expenses	December 31, December 31, Research and development $ 1,928,000 $ 2,183,800 Professional fees 168,000 150,900 Accrued bonus 1,191,000 1,444,900 Accrued vacation 450,400 351,200 Other 131,000 126,200 Total $ 3,868,400 $ 4,257,000

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Schedule of the changes in outstanding warrants	Number of Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Outstanding and expected to vest at December 31, 2019 3,615,602 $ 19.96 9.2 $ 74,837,043 Granted 1,000,000 39.50 9.3 - Exercised (253,927 ) - - - Forfeited (455,938 ) - - - Outstanding and expected to vest at December 31, 2020 3,905,737 $ 24.32 8.4 $ 48,952,339 Granted 7,057,004 21.15 9.8 - Exercised (174,619 ) - - - Forfeited (457,500 ) - - - Outstanding and expected to vest at December 31, 2021 10,330,622 $ 22.52 9.0 $ 46,088,534 Options exercisable at December 31, 2021 2,140,490 $ 20.99 7.3 $ 19,511,463
Schedule of weighted average fair value of options	Years Ended Years Ended December 31, December 31, 2021 2020 Risk free interest rate 0.59 to 1.31 % 0.36 to 0.83 % Dividend yield 0 % 0 % Volatility 97-101 % 101-108 % Expected term (in years) 5 to 6.25 6.25
Schedule of the changes in outstanding warrants	Number of Shares Weighted Average Exercise Price Per Share Outstanding at December 31, 2019 3,646,870 $ 6.83 Issued 250,000 $ 33.32 Exercised (1,211,199 ) $ 7.27 Forfeited/Expired (15,040 ) $ 16.80 Outstanding at December 31, 2020 2,670,633 $ 9.11 Issued 972,000 $ 31.98 Exercised (433,856 ) $ 6.06 Outstanding at December 31, 2021 3,208,777 $ 16.45 Warrants exercisable at December 31, 2021 2,767,246 $ 13.92
Schedule of stock-based compensation expense	Year Ended Year Ended December 31, December 31, 2021 2020 Research and development $ 15,835,900 $ 4,038,500 General and administrative 24,658,600 16,738,800 Total $ 40,494,500 $ 20,777,300

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets	December 31, December 31, Deferred tax assets: Federal net operating loss $ 19,434,000 $ 15,227,000 State net operating loss 12,508,000 9,361,000 Research and development tax credits 5,333,000 3,407,000 Capitalized R&D 38,360,000 14,387,000 Nonqualified Stock Options 15,511,000 7,352,000 Accruals 655,000 645,000 Intangibles and Fixed Assets 4,394,000 41,000 Less: valuation allowance (96,195,000 ) (50,420,000 ) Total $ - $ -
Schedule of reconciliation of the statutory tax rate to the effective tax rate	Year Ended Year Ended Statutory federal income tax rate 21.00 % 21.00 % State (net of federal benefit) 14.22 % 15.50 % Non-deductible expenses (0.38 )% 0.42 % R&D Credit 1.53 % 3.21 % Other 0.02 % 1.01 % Change in valuation allowance (36.41 )% (41.15 )% Effective income tax rate 0 % 0 %

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum lease payments to be received	2022 $ 90,348 Total $ 90,348

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies (Details) [Line Items]
Incurred negative operating cash flows	$ (91,873,395)	$ (27,808,801)
Accumulated deficit	(305,067,112)	(179,315,303)
Proceeds from the sale of common stock	184,642,981
Exercise of warrants	2,628,061	8,056,416
Exercise of options	668,431	735,514
Cash deposits	44,443,439
Short-term investments	167,466,167
Unrealized loss gain	$ 611,382	$ 139,267
Computers and software [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Estimated useful life	3 years
Level 1 [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Short-term investments	$ 167,466,167

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of anti-dilutive securities - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	13,539,399	6,576,370
Common stock warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,208,777	2,670,633
Common stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	10,330,622	3,905,737

Prepaid Expenses (Details) - Sc

Prepaid Expenses (Details) - Schedule of prepaid expenses - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Schedule of prepaid expenses [Abstract]
Insurance	$ 353,300	$ 527,600
Research and Development	10,708,800	291,800
Legal	11,000	11,000
Other	228,400	72,800
Total	$ 11,301,500	$ 903,200

Fixed Assets (Details)

Fixed Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Recognized depreciation expense	$ 1,258	$ 3,752

Fixed Assets (Details) - Schedu

Fixed Assets (Details) - Schedule of fixed assets - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
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)	Dec. 31, 2021USD ($)
Payables and Accruals [Abstract]
Accrued expenses rounded to nearest	$ 0

Accrued Expenses (Details) - Sc

Accrued Expenses (Details) - Schedule of accrued expenses - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Schedule of accrued expenses [Abstract]
Research and development	$ 1,928,000	$ 2,183,800
Professional fees	168,000	150,900
Accrued bonus	1,191,000	1,444,900
Accrued vacation	450,400	351,200
Other	131,000	126,200
Total	$ 3,868,400	$ 4,257,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Dec. 09, 2021	Oct. 01, 2021	Jul. 12, 2021	Jan. 06, 2021	Dec. 16, 2020	May 15, 2020	Apr. 27, 2020	Apr. 01, 2020	Dec. 31, 2021	Dec. 22, 2021	Dec. 17, 2021	Sep. 30, 2021	Jul. 16, 2021	Jun. 25, 2021	Jun. 18, 2021	Feb. 18, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 08, 2021	May 31, 2021	Dec. 31, 2014
Stockholders' Equity (Details) [Line Items]
Common stock issued (in Shares)																	0	42,475
Shares issued for cashless exercise of warrants (in Shares)									0								0	60,513
Exercise of warrants (in Dollars)																	$ 2,628,061	$ 8,056,416
Shares of common stock (in Shares)									0								0	90,204	8,823,530
Issued of common stock (in Shares)									27,740,147								27,740,147	16,332,939
Net cash proceeds (in Dollars)																	$ 161,226,945
Common stock, par value (in Dollars per share)									$ 0.001								$ 0.001	$ 0.001	$ 0.001
Price per share (in Dollars per share)																			17
Underwriters granted period	30 days
Additional shares of common stock (in Shares)	1,323,529
Granting of common stock awards (in Shares)																					5,152,942
Granting to option or stock awards (in Dollars)									$ 6,652,942								$ 6,652,942			$ 1,500,000
Stock options exercisable period																	10 years
Vesting period																	4 years
Issued shares (in Shares)																	3,900,000
Options for shares (in Shares)																	3,821,118
Options awarded (in Shares)										65,000
Exercise price (in Dollars per share)										$ 21.11
Term										10 years
Expected life term																		6 years 3 months
Expected dividends rate																	0.00%	0.00%
Shareholder approval shares (in Shares)											3,821,118
Stock options, description												As of December 31, 2021, six performance metrics for 520,000 options were met. Vesting of such options is subject to the passage of time. At December 31, 2021, the Company incurred expense of $3,392,419 related to these options.During the year ended December 31, 2020, the Company awarded a total of 1,000,000 options to employees with exercise prices ranging from $28.00- $45.61 and a 10-year term vesting over 4-year period. The options have an aggregate fair value of $32.4 million calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.36%-0.83% (2) expected life of 6.25 years, (3) expected volatility of 101%-108%, and (4) zero expected dividends. During the year ended December 31, 2020, the Company recognized additional compensation expense of approximately $1,500,000 related to acceleration of vesting and a nominal amount related to the modification of certain options in connection with the separation and settlement agreement with Dr. Ottavio Vitolo (see note 10). During the year ended December 31, 2020, the Company recognized compensation expense of approximately $484,000 related to the extended period of time to allow for some options to vest under the separation and settlement agreement with Dr. Thomas Wessel. This was considered a Type III modification and as a result the total expense of $1.8 million previously recognized was reversed as the options would not have vested prior to the modification (see note 10). A summary of the changes in options outstanding for the years ended December 31, 2021 and 2020 is as follows:     Number of Shares   Weighted Average Exercise Price Per Share   Weighted Average Remaining Contractual Term (Years)   Aggregate Intrinsic Value  Outstanding and expected to vest at December 31, 2019   3,615,602   $19.96    9.2   $74,837,043  Granted   1,000,000    39.50    9.3    -  Exercised   (253,927)   -    -    -  Forfeited   (455,938)   -    -    -  Outstanding and expected to vest at December 31, 2020   3,905,737   $24.32    8.4   $48,952,339  Granted   7,057,004    21.15    9.8    -  Exercised   (174,619)   -    -    -  Forfeited   (457,500)   -    -    -  Outstanding and expected to vest at December 31, 2021   10,330,622   $22.52    9.0   $46,088,534  Options exercisable at December 31, 2021   2,140,490   $20.99    7.3   $19,511,463   At December 31, 2021, the Company has unrecognized stock-based compensation expense of approximately $143,200,000 related to unvested stock options over the weighted average remaining service period of 2.94 years. The weighted average fair value of options granted during the years ended December 31, 2021 and 2020 was approximately $22.15 and $32.45 per share, respectively, on the date of grant using the Black-Scholes option pricing model with the following assumptions:      Years Ended   Years Ended     December 31,   December 31,     2021   2020  Risk free interest rate  0.59 to 1.31%  0.36 to 0.83% Dividend yield   0%   0% Volatility     97-101 %     101-108% Expected term (in years)     5 to 6.25      6.25    Warrants A summary of the changes in outstanding warrants during the years ended December 31, 2021 and 2020 is as follows:      Number of Shares   Weighted Average Exercise Price Per Share  Outstanding at December 31, 2019   3,646,870   $6.83  Issued   250,000   $33.32  Exercised   (1,211,199)  $7.27  Forfeited/Expired   (15,040)  $16.80  Outstanding at December 31, 2020   2,670,633   $9.11  Issued   972,000   $31.98  Exercised   (433,856)  $6.06  Outstanding at December 31, 2021   3,208,777   $16.45  Warrants exercisable at December 31, 2021   2,767,246   $13.92   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 25% after year one and 6.25% quarterly there after until 100% vested. The warrants have an aggregate fair value of $891,265 calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 1.10% (2) expected life of 6.25 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. 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 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 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 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 December 31, 2021, six performance metrics for 200,000 warrants were met. Vesting of such options is subject to the passage of time.
Description of employees options																		The options have an aggregate fair value of $32.4 million calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 0.36%-0.83% (2) expected life of 6.25 years, (3) expected volatility of 101%-108%, and (4) zero expected dividends.
Additional compensation expense (in Dollars)																	$ 40,494,476	$ 20,777,272
Recognized compensation expense (in Dollars)																		484,000
Total expense (in Dollars)																		$ 1,800,000
Unrecognized stock-based compensation expense (in Dollars)									$ 12,400,000								$ 12,400,000
Weighted average remaining service period																	2 years 11 months 8 days
Number of granted warrants (in Shares)																	7,057,004	1,000,000
Performance metrics, description									As of December 31, 2021, six performance metrics for 200,000 warrants were met.
Incurred expense (in Dollars)									$ 1,304,776								$ 1,304,776
Aggregate intrinsic value of warrants vested and outstanding (in Dollars)									31,300,000								31,300,000
Stock Based Compensation [Member]
Stockholders' Equity (Details) [Line Items]
Additional compensation expense (in Dollars)																		$ 1,500,000
Unrecognized stock-based compensation expense (in Dollars)									$ 143,200,000								$ 143,200,000
Jefferies LLC [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate of offering price (in Dollars)						$ 75,000,000
Black-Scholes Option Pricing Model [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate fair value of options (in Dollars)				$ 39,700,000						$ 1,100,000						$ 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%						0.00%
Consultants [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate fair value of options (in Dollars)		$ 891,265	$ 212,219	$ 10,600,000	$ 2,860,000			$ 2,500,000						$ 211,653	$ 190,401
Discount rate		1.10%	0.43%	0.59%	0.37%			0.26%						0.43%	0.47%
Expected life term		6 years 3 months	3 years	6 years 3 months	5 years			2 years 6 months						3 years	3 years
Expected volatility rate		99.00%	99.00%	101.00%	105.00%			118.00%						100.00%	100.00%
Expected dividends rate		0.00%	0.00%	0.00%	0.00%			0.00%						0.00%	0.00%
Number of granted warrants (in Shares)		42,000	10,000	400,000	108,000			120,000						10,000	10,000
Exercise price per share (in Dollars per share)		$ 26.74	$ 34.77	$ 33.43	$ 34.87			$ 31.59						$ 34.35	$ 30.9
Term year		10 years	5 years	10 years	5 years			5 years						5 years	5 years
Vesting period			1 year	4 years										1 year	1 year
Arbormentis, LLC [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate fair value of options (in Dollars)													$ 10,241,599
Discount rate													0.48%
Expected life term													3 years 6 months
Expected volatility rate													101.00%
Expected dividends rate													0.00%
Number of granted warrants (in Shares)													500,000
Exercise price per share (in Dollars per share)													$ 31.17
Term year													7 years
Consultant One [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate fair value of options (in Dollars)					$ 479,000		$ 48,000
Discount rate					0.37%		0.27%
Expected life term					3 years 9 months		2 years 6 months
Expected volatility rate					105.00%		116.00%
Expected dividends rate					0.00%		0.00%
Number of granted warrants (in Shares)					20,000		2,000
Exercise price per share (in Dollars per share)					$ 34.87		$ 37.67
Term year					5 years		5 years
Vesting period					4 years
Underwriters [Member]
Stockholders' Equity (Details) [Line Items]
Price per share (in Dollars per share)																			$ 15.98
Stock Options [Member]
Stockholders' Equity (Details) [Line Items]
Vesting period				4 years												4 years
Options awarded (in Shares)				1,490,000												25,000
Exercise price (in Dollars per share)				$ 33.43												$ 35.15
Term				10 years												10 years
Vesting Period Four [Member] | Black-Scholes Option Pricing Model [Member]
Stockholders' Equity (Details) [Line Items]
Expected dividends rate											0.00%
Minimum [Member]
Stockholders' Equity (Details) [Line Items]
Vesting period										1 year
Discount rate																	0.59%	0.36%
Expected life term																	5 years
Expected volatility rate																	97.00%	101.00%
Minimum [Member] | Black-Scholes Option Pricing Model [Member]
Stockholders' Equity (Details) [Line Items]
Discount rate										1.23%
Expected life term										5 years 6 months
Expected volatility rate										96.00%
Minimum [Member] | Vesting Period One to Four [Member]
Stockholders' Equity (Details) [Line Items]
Expected life term											5 years 2 months 12 days
Expected volatility rate											97.00%
Minimum [Member] | Vesting Period One to Four [Member] | Black-Scholes Option Pricing Model [Member]
Stockholders' Equity (Details) [Line Items]
Discount rate											1.18%
Maximum [Member]
Stockholders' Equity (Details) [Line Items]
Vesting period										4 years
Discount rate																	1.31%	0.83%
Expected life term																	6 years 3 months
Expected volatility rate																	101.00%	108.00%
Maximum [Member] | Black-Scholes Option Pricing Model [Member]
Stockholders' Equity (Details) [Line Items]
Discount rate										1.31%
Expected life term										6 years 3 months
Expected volatility rate										98.00%
Maximum [Member] | Vesting Period One to Four [Member]
Stockholders' Equity (Details) [Line Items]
Vesting period											1 year
Expected life term											5 years
Maximum [Member] | Vesting Period One to Four [Member] | Black-Scholes Option Pricing Model [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate fair value of options (in Dollars)											$ 81.6
Discount rate											1.26%
Expected volatility rate											99.00%
Maximum [Member] | Vesting Period One to Four [Member] | Stock Options [Member]
Stockholders' Equity (Details) [Line Items]
Vesting period											4 years
Options awarded (in Shares)											5,477,004
Exercise price (in Dollars per share)											$ 19.03
Term											10 years
Common Stock [Member]
Stockholders' Equity (Details) [Line Items]
Common stock issued (in Shares)																	433,856	1,159,989
Shares of common stock (in Shares)									174,619								174,619	155,558
Issued of common stock (in Shares)									0								0	98,370
Exercised common shares issued (in Shares)																	668,431	735,514
Additional compensation expense (in Dollars)
Common Stock [Member] | Jefferies LLC [Member]
Stockholders' Equity (Details) [Line Items]
Shares of common stock (in Shares)									651,674								651,674	427,700
Net cash proceeds (in Dollars)																	$ 23,416,036	$ 19,791,644

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Schedule of changes in options outstanding - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of changes in options outstanding [Abstract]
Number of Shares, Outstanding and expected to vest, Beginning balance	3,905,737	3,615,602
Weighted Average Exercise Price Per Share, Outstanding and expected to vest, Beginning balance	$ 24.32	$ 19.96
Weighted Average Remaining Contractual Term (Years), Beginning balance		9 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding and expected to vest, Beginning balance	$ 48,952,339	$ 74,837,043
Number of Shares, Granted	7,057,004	1,000,000
Weighted Average Exercise Price Per Share, Granted	$ 21.15	$ 39.5
Weighted Average Remaining Contractual Term (Years), Granted	9 years 9 months 18 days	9 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding and expected to vest, Granted
Number of Shares, Exercised	(174,619)	(253,927)
Weighted Average Exercise Price Per Share, Exercised
Weighted Average Remaining Contractual Term (Years), Exercised
Aggregate Intrinsic Value, Outstanding and expected to vest, Exercised
Number of Shares, Forfeited	(457,500)	(455,938)
Weighted Average Exercise Price Per Share, Forfeited
Weighted Average Remaining Contractual Term (Years), Forfeited
Aggregate Intrinsic Value, Outstanding and expected to vest, Forfeited
Number of Shares, Outstanding and expected to vest, Ending balance	10,330,622	3,905,737
Weighted Average Exercise Price Per Share, Outstanding and expected to vest, Ending balance	$ 22.52	$ 24.32
Weighted Average Remaining Contractual Term (Years), Ending balance	9 years	8 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding and expected to vest, Ending balance	$ 46,088,534	$ 48,952,339
Number of Shares, Options exercisable	2,140,490
Weighted Average Exercise Price Per Share, Options exercisable	$ 20.99
Weighted Average Remaining Contractual Term (Years), Options exercisable	7 years 3 months 18 days
Aggregate Intrinsic Value, Options exercisable	$ 19,511,463

Stockholders' Equity (Details_2

Stockholders' Equity (Details) - Schedule of weighted average fair value of options	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Stockholders' Equity (Details) - Schedule of weighted average fair value of options [Line Items]
Dividend yield	0.00%	0.00%
Expected term (in years)		6 years 3 months
Minimum [Member]
Stockholders' Equity (Details) - Schedule of weighted average fair value of options [Line Items]
Risk free interest rate	0.59%	0.36%
Volatility	97.00%	101.00%
Expected term (in years)	5 years
Maximum [Member]
Stockholders' Equity (Details) - Schedule of weighted average fair value of options [Line Items]
Risk free interest rate	1.31%	0.83%
Volatility	101.00%	108.00%
Expected term (in years)	6 years 3 months

Stockholders' Equity (Details_3

Stockholders' Equity (Details) - Schedule of the changes in outstanding warrants - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of the changes in outstanding warrants [Abstract]
Number of Shares, Outstanding, Beginning Balance	2,670,633	3,646,870
Weighted Average Exercise Price Per Share, Outstanding, Beginning Balance	$ 9.11	$ 6.83
Number of Shares, Issued	972,000	250,000
Weighted Average Exercise Price Per Share, Issued	$ 31.98	$ 33.32
Number of Shares, Exercised	(433,856)	(1,211,199)
Weighted Average Exercise Price Per Share, Exercised	$ 6.06	$ 7.27
Number of Shares, Forfeited/Expired		(15,040)
Weighted Average Exercise Price Per Share, Forfeited/Expired		$ 16.8
Number of Shares, Outstanding, Ending balance	3,208,777	2,670,633
Weighted Average Exercise Price Per Share, Outstanding, Ending balance	$ 16.45	$ 9.11
Number of Shares, Warrants exercisable	2,767,246
Weighted Average Exercise Price Per Share, Warrants exercisable	$ 13.92

Stockholders' Equity (Details_4

Stockholders' Equity (Details) - Schedule of stock-based compensation expense - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 40,494,500	$ 20,777,300
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	15,835,900	4,038,500
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 24,658,600	$ 16,738,800

Income Taxes (Details)

Income Taxes (Details) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 27, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Description of class life changes	the Coronavirus Aid Relief and Economic Security (“CARES”) Act was signed into law.  The Act contains several new or changed income tax provisions, including but not limited to the following: increased limitation threshold for determining deductible interest expense, class life changes to qualified improvements (in general, from 39 years to 15 years) and the ability to carry back net operating losses (“NOLs”) incurred from tax years 2018 through 2020 up to the five preceding tax years.  Most of these provisions are either not applicable or have no material effect on the Company.
Valuation allowance of assets		$ 45,775,000	$ 24,469,000
Net operating loss carryforwards, description		the Company had federal, New York State and New York City net operating loss (NOL) carryforwards of approximately $92,543,000, $91,755,000 and $91,371,000 respectively, which begin expiring in 2027, 2032 and 2032 respectively. Approximately $47,072,000 federal NOL can be carried forward indefinitely but it is limited to 80% of future taxable income.
Federal tax credit carryforwards		$ 5,308,000

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of deferred tax assets - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Schedule of deferred tax assets [Abstract]
Federal net operating loss	$ 19,434,000	$ 15,227,000
State net operating loss	12,508,000	9,361,000
Research and development tax credits	5,333,000	3,407,000
Capitalized R&D	38,360,000	14,387,000
Nonqualified Stock Options	15,511,000	7,352,000
Accruals	655,000	645,000
Intangibles and Fixed Assets	4,394,000	41,000
Less: valuation allowance	(96,195,000)	(50,420,000)
Total

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of reconciliation of the statutory tax rate to the effective tax rate	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of reconciliation of the statutory tax rate to the effective tax rate [Abstract]
Statutory federal income tax rate	21.00%	21.00%
State (net of federal benefit)	14.22%	15.50%
Non-deductible expenses	(0.38%)	0.42%
R&D Credit	1.53%	3.21%
Other	0.02%	1.01%
Change in valuation allowance	(36.41%)	(41.15%)
Effective income tax rate	0.00%	0.00%

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)	Jul. 16, 2021	Jun. 08, 2017	Aug. 01, 2021	Jan. 31, 2018	Dec. 31, 2021	Dec. 31, 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 agreement monthly rent			$ 11,000
Lease period			5 months
Lease expenses					111,800	$ 165,900
Lease income					4,000	$ 14,900
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 the 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. On June 8, 2017 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 December 31, 2020, 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.
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	Dec. 31, 2021USD ($)
Schedule of future minimum lease payments to be received [Abstract]
2022	$ 90,348
Total	$ 90,348

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Mar. 06, 2020	Dec. 31, 2020	Dec. 31, 2021
Related Party Transactions (Details) [Line Items]
Exercised price		$ 126,562
Expired date		Mar. 6, 2021
Accrued pay		$ 351,200	$ 450,400
Dr. Vitolo [Member]
Related Party Transactions (Details) [Line Items]
Severance, amount	$ 200,000
Paying accrued, amount	$ 45,000
Dr. Wessel [Member]
Related Party Transactions (Details) [Line Items]
Severance, amount		237,500
Accrued pay		$ 28,940

Other Postretirement Benefit _2

Other Postretirement Benefit Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 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	$ 112,910	$ 90,692

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Mar. 07, 2022	Jan. 07, 2022	Mar. 14, 2022	Mar. 23, 2022	Dec. 31, 2021	Dec. 08, 2021	Dec. 31, 2020
Subsequent Events (Details) [Line Items]
Common shares issued					0	8,823,530	90,204
Monthly cost					$ 6,550
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Stock options				20,000
Exercise price				$ 3.24
Net proceeds		$ 10,994,486		$ 64,800
Common shares issued		655,593
Forecast [Member]
Subsequent Events (Details) [Line Items]
Stock options			160,000
Net proceeds	$ 18,604,055
Common shares issued	953,750
Forecast [Member] | Minimum [Member]
Subsequent Events (Details) [Line Items]
Exercise price			$ 18
Forecast [Member] | Maximum [Member]
Subsequent Events (Details) [Line Items]
Exercise price			$ 22.53