Celcuity (CELC) 10-Q 9 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 01, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Entity Registrant Name	Celcuity Inc.
Entity Central Index Key	1,603,454
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	CELC
Entity Common Stock, Shares Outstanding		10,119,312

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 3,172,782	$ 2,639,789
Investments	18,385,920	21,556,857
Restricted cash	50,000	50,000
Deposits	27,726	27,726
Prepaid assets	154,002	209,708
Total current assets	21,790,430	24,484,080
Property and equipment, net	730,449	280,056
Long term investments	6,948,606	7,205,374
Total Assets	29,469,485	31,969,510
Current Liabilities:
Accounts payable	149,401	71,913
Capital lease obligations	5,706	0
Accrued expenses	807,783	506,140
Total current liabilities	962,890	578,053
Capital lease obligations	23,226	0
Total Liabilities	986,116	578,053
Commitments and contingencies
Stockholders' Equity:
Preferred stock, $0.001 par value: 2,500,000 and 5,000,000 shares authorized as of June 30, 2018 and December 31, 2017, respectively; 0 shares issued and outstanding as of June 30, 2018 and December 31, 2017	0	0
Common stock, $0.001 par value: 25,000,000 and 45,000,000 shares authorized as of June 30, 2018 and December 31, 2017, respectively; 10,119,312 and 10,087,516 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively	10,119	10,087
Additional paid-in capital	34,264,884	33,388,597
Accumulated deficit	(5,791,634)	(2,007,227)
Total Stockholders' Equity	28,483,369	31,391,457
Total Liabilities and Stockholders' Equity	$ 29,469,485	$ 31,969,510

Condensed Balance Sheets _Paren

Condensed Balance Sheets [Parenthetical] - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	2,500,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	25,000,000	45,000,000
Common Stock, Shares, Issued	10,119,312	10,087,516
Common Stock, Shares, Outstanding	10,119,312	10,087,516

Condensed Statements of Operati

Condensed Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Operating expenses:
Research and development	$ 1,546,537	$ 1,303,886	$ 3,092,205	$ 2,212,629
General and administrative	382,646	301,820	913,286	386,963
Total operating expenses	1,929,183	1,605,706	4,005,491	2,599,592
Loss from operations	(1,929,183)	(1,605,706)	(4,005,491)	(2,599,592)
Other income (expense)
Interest expense	0	(186,659)	0	(186,686)
Interest income	112,722	16,150	221,084	22,712
Other income (expense), net	112,722	(170,509)	221,084	(163,974)
Net loss before income taxes	(1,816,461)	(1,776,215)	(3,784,407)	(2,763,566)
Income tax benefits	0	0	0	0
Net loss	$ (1,816,461)	$ (1,776,215)	$ (3,784,407)	$ (2,763,566)
Net loss per share, basic and diluted	$ (0.18)	$ (0.28)	$ (0.37)	$ (0.43)
Weighted average common shares outstanding, basic and diluted	10,110,558	6,440,139	10,103,323	6,440,139

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net loss	$ (3,784,407)	$ (2,763,566)
Adjustments to reconcile net loss to net cash used for operations:
Depreciation	89,704	45,449
Stock-based compensation	612,764	422,816
Non-cash interest expense	0	186,759
Non-cash interest income adjustment	2,705	0
Changes in operating assets and liabilities:
Prepaid assets and deposits	55,706	(156,120)
Accounts payable	12,604	(34,771)
Accrued expenses	226,643	89,700
Net cash used for operating activities	(2,784,281)	(2,209,733)
Cash flows from investing activities:
Purchases of investments	(3,235,000)	0
Proceeds from sale of investments	6,660,000	0
Purchases of property and equipment	(372,282)	(165,851)
Proceeds from sale of property and equipment	1,000	0
Net cash provided by (used for) investing activities	3,053,718	(165,851)
Cash flows from financing activities:
Proceeds from sale of convertible promissory notes	0	7,493,330
Payments for debt issuance costs	0	(40,961)
Deferred transaction costs	0	(25,065)
Proceeds from exercise of common stock warrants	183,759	0
Proceeds from employee stock purchases	79,797	0
Net cash provided by financing activities	263,556	7,427,304
Net change in cash, cash equivalents, and restricted cash	532,993	5,051,720
Cash, cash equivalents, and restricted cash:
Beginning of period	2,689,789	5,906,348
End of period	$ 3,222,782	$ 10,958,068

Condensed Statements of Cash F6

Condensed Statements of Cash Flows (Additional Information) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash and cash equivalents	$ 3,172,782	$ 10,908,068
Restricted cash	50,000	50,000
Total	3,222,782	10,958,068
Supplemental disclosures of non-cash investing and financing activities:
Property and equipment included in accounts payable	64,883	0
Property and equipment funded by capital lease	28,932	0
Leasehold improvements funded by landlord and related deferred rent included in accrued expenses	75,000	0
Debt issuance costs netted against proceeds from sale of convertible promissory notes	0	844,170
Debt discount related to investor and agent warrants (Note 11)	0	1,063,715
Deferred transaction costs included in accounts payable and accrued expenses	$ 0	$ 276,666

Organization

Organization	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization Nature of Business Celcuity Inc., a Delaware corporation (the “Company”), is a cellular analysis company that is discovering new cancer sub-types and commercializing diagnostic tests designed to significantly improve the response rates of cancer patients treated with targeted therapies. The Company’s proprietary CELx diagnostic platform is currently the only commercially ready technology the Company is aware of that uses a patient’s living tumor cells to evaluate the functional status of the cell signaling pathways associated with cancer. The CELx platform identifies the abnormal signaling activity driving a patient’s cancer and quantifies how effectively a targeted therapy can treat it. This enables physicians to select the therapeutic that precisely matches and inhibits a patient’s cellular dysfunction, which significantly increases the likelihood of a positive clinical outcome. The Company was co-founded in 2012 by Brian Sullivan and Lance Laing and is based in Minnesota. The Company has not generated any revenues to date.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited financial statements include the accounts of the Company and have been prepared in accordance with Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, as permitted by Article 10, the unaudited financial statements do not include all of the information required by accounting principles generally accepted in the United States (“U.S. GAAP”). The Balance Sheet at December 31, 2017 was derived from the audited financial statements at that date and does not include all the disclosures required by U.S. GAAP. In the opinion of management, all adjustments which are of a normal recurring nature and necessary for a fair presentation have been reflected in the financial statements. These unaudited condensed financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2017 and the related footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. Operating results for the three and six months ended June 30, 2018 are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period. On September 15, 2017, in relation to preparing for its initial public offering (“IPO”), Celcuity LLC filed a certificate of conversion, whereby Celcuity LLC effected a corporate conversion from a Minnesota limited liability company to a Delaware corporation and changed its name to Celcuity Inc. Pursuant to the corporate conversion, units of membership interest in the limited liability company were converted into shares of common stock of the corporation at a conversion ratio of 40 units for one share of common stock. As a result of the corporate conversion, accumulated deficit was reduced to zero on the date of the corporate conversion, and the corresponding amount was credited to additional paid-in capital. The corporate conversion was approved by members holding a majority of our outstanding units, and in connection with such conversion, the Company filed a certificate of incorporation and adopted bylaws. The Company determined that the corporate conversion is equivalent to a change in the Company’s capital structure. As such, all references in the unaudited financial statements to the number of shares and per-share amounts of member units are now presented as common stock and have been retroactively restated to reflect the conversion. On September 22, 2017, the Company completed its IPO whereby it sold 2,760,000 shares of common stock at a public offering price of $9.50 per share. The aggregate net proceeds received by the Company from the offering were approximately $23.3 million, net of underwriting discounts and commissions of approximately $1.8 million and offering expenses of approximately $1.1 million. Upon the closing of the IPO, 10,082,050 shares of common stock were outstanding, which includes 881,911 shares of common stock as a result of the conversion of the Company’s Unsecured Convertible Promissory Notes (See Note 11). Shares of the Company’s common stock began trading on September 20, 2017 on The Nasdaq Capital Market under the symbol “CELC”. On May 11, 2018, the Company filed an amendment to its certificate of incorporation to decrease the number of authorized shares of common stock and preferred stock. Pursuant to the Company’s amended certificate of incorporation, the Company is authorized to issue up to 25,000,000 shares of common stock, $0.001 par value per share and 2,500,000 shares of preferred stock, $0.001 par value per share. Accounting Estimates Management uses estimates and assumptions in preparing these unaudited condensed financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the valuation of stock-based compensation and warrants issued to investors, a placement agent and an underwriter, and prepaid or accrued clinical trial costs. Cash, Cash Equivalents, and Restricted Cash The Company maintains its accounts primarily at one financial institution. At times throughout the year, the Company’s cash balances may exceed amounts insured by the Federal Deposit Insurance Corporation. At June 30, 2018 and December 31, 2017, the Company had $3,135,878 and $2,612,104, respectively, in money market funds and U.S. Treasury Bills that are considered cash equivalents. In connection with the corporate lease, the Company is required to maintain $50,000 of cash in a separate savings account. This balance is presented as restricted cash on the balance sheets. Investments The Company maintains its investments in certificates of deposit, U.S. governmental agency securities and U.S. treasury notes and has classified them as held-to-maturity at the time of purchase. Held-to-maturity securities are those securities in which the Company has the ability and intent to hold until maturity. Held-to maturity securities are recorded at amortized cost, adjusted for the amortization or accretion of premiums and discounts. Premiums and discounts are amortized or accreted over the life of the related held-to-maturity security using a straight-line method. At June 30, 2018 and December 31, 2017, the Company had $25,334,526 and $28,762,231, respectively, of investments. Property and Equipment Property and equipment are stated at cost. Depreciation is provided over estimated useful lives using the straight-line method. Maintenance and repairs are expensed as incurred; major improvements and betterments are capitalized. Estimated useful lives of property and equipment are as follows for the major classes of assets: Asset Description Estimated Lives Furniture and Equipment 4-5 Leasehold Improvements 2-3 Long-Lived Assets Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third party independent appraisals, as considered necessary. Comprehensive Loss Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders. For all periods presented, there was no difference between net loss and comprehensive loss. Risks and Uncertainties The Company is subject to risks common to companies in the development stage including, but not limited to, dependency on the clinical and commercial success of its diagnostic tests, ability to obtain regulatory approval of its diagnostic tests, the need for substantial additional financing to achieve its goals, uncertainty of broad adoption of its approved products, if any, by physicians and consumers, and significant competition. Fair Value of Financial Instruments The Company’s accounting for fair value measurements of assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring or nonrecurring basis adheres to the Financial Accounting Standards Board (“FASB”) fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:  Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the Company at the measurement date.  Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.  Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The level in the fair value hierarchy within which a fair measurement in its entirety falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The carrying values of cash equivalents, restricted cash, accounts payable, accrued expenses and other financial working capital items approximate fair value at June 30, 2018 and December 31, 2017 due to the short maturity nature of these items. Income Taxes The Company accounts for income taxes using the asset and liability method, as required by the accounting standard for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss and tax credit carryforwards. Deferred taxes 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 taxes of a change in tax rates is recognized in results of operations in the period that includes the enactment date. The effects of any future changes in tax laws or rates have not been considered. The Company regularly reviews deferred tax assets to assess their potential realization and establish a valuation allowance for portions of such assets to reduce the carrying value if the Company does not consider it to be more likely than not that the deferred tax assets will be realized. The Company recognizes the impact of an uncertain tax position in its financial statements if, in management’s judgment, the position is more-likely-than-not sustainable upon audit based on the position’s technical merits. This involves the identification of potential uncertain tax positions, the evaluation of applicable tax laws and an assessment of whether a liability for an uncertain tax position is necessary. Stock-Based Compensation The Company’s stock-based compensation consists of common stock options and restricted stock issued to certain employees and nonemployees of the Company and the Company’s Employee Stock Purchase Plan. The Company recognizes compensation expense based on an estimated grant date fair value using the Black-Scholes option-pricing method. The Company has elected to account for forfeitures as they occur. Research and Development Research and development costs are expensed as incurred. Research and development costs amounted to $3,092,205 and $2,212,629 for the six months ended June 30, 2018 and 2017, respectively, and $1,546,537 and $1,303,886 for the three months ended June 30, 2018 and 2017, respectively. Clinical Trial Costs The Company records prepaid assets or accrued expenses for prepaid or estimated clinical trial costs conducted by third-party service providers, which include the conduct of preclinical studies and clinical trials. These costs are a significant component of the Company’s research and development expenses. The Company accrues for these costs based on factors such as estimates of the work completed and in accordance with agreements established with its third-party service providers under the service agreements. The Company makes significant judgments and estimates in determining the accrued liabilities balance in each reporting period. As actual costs become known, the Company adjusts its prepaid assets or accrued expenses. The Company has not experienced any material differences between accrued costs and actual costs incurred. However, the status and timing of actual services performed, number of patients enrolled and the rate of patient enrollments may vary from the Company’s estimates, resulting in an adjustment to expense in future periods. Changes in these estimates that result in material changes to the Company’s prepaid assets or accrued expenses could materially affect the Company’s results of operations. Application of New or Revised Accounting Standards Pursuant to the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), a company constituting an “emerging growth company” is, among other things, entitled to rely upon certain reduced reporting requirements. The Company is an emerging growth company, but has irrevocably elected not to take advantage of the extended transition period afforded by the JOBS Act for the implementation of new or revised accounting standards. As a result, the Company will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for public companies that are not emerging growth companies. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which provides guidance for accounting for leases. The new guidance requires companies to recognize the assets and liabilities for the rights and obligations created by leased assets, initially measured at the present value of the lease payments. The accounting guidance for lessors is largely unchanged. The ASU is effective for annual and interim periods beginning after December 15, 2018 with early adoption permitted. It is to be adopted using a modified retrospective approach. The Company is currently evaluating the impact that the adoption of this guidance will have on the Company’s financial statements. Recently Adopted Accounting Pronouncements In November 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-18, Restricted Cash Statement of Cash Flows (Topic 230) of the Accounting Standards Codification. The new guidance requires amounts generally described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company adopted this standard as of January 1, 2018 and applied it retrospectively. In June 2018, the FASB issued Accounting Standards Update (ASU) No. 2018-07, Improvements to Nonemployee Share-Based Payment Accounting

Net Loss Per Common Share

Net Loss Per Common Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	3. Net Loss Per Common Share Basic and diluted net loss per common share is determined by dividing net loss attributable to common stockholders by the weighted-average common shares outstanding during the period. For all periods presented, the common shares underlying the options and warrants have been excluded from the calculation because their effect would be anti-dilutive. Therefore, the weighted-average shares outstanding used to calculate both basic and diluted loss per common shares are the same. For the three and six months ended June 30, 2018 and 2017, potentially dilutive securities excluded from the computations of diluted weighted-average shares outstanding were options to purchase 522,755 and 442,685 shares of common stock, respectively, warrants to purchase 353,980 and 103,864 shares of common stock, respectively, and 2,571 and 0 shares of restricted common stock, respectively.

Investments

Investments	6 Months Ended
	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	4. Investments The following tables summarizes the Company’s held-to-maturity investment securities at amortized cost as of June 30, 2018 and December 31, 2017: June 30, 2018 Amortized Cost, Gross Gross Estimated Fair Short-term investments: Certificates of Deposit $ 10,609,185 $ - $ 21,912 $ 10,587,273 Governmental Agency Securities 5,285,044 - 15,359 5,269,685 U.S. Treasury Notes 2,491,691 - 2,849 2,488,842 Total $ 18,385,920 $ - $ 40,120 $ 18,345,800 Amortized Cost, Gross Gross Estimated Fair Long-term investments: Certificates of Deposit $ 3,920,000 $ - $ 43,819 $ 3,876,181 Governmental Agency Securities 3,028,606 - $ 29,974 2,998,632 Total $ 6,948,606 $ - $ 73,793 $ 6,874,813 December 31, 2017 Amortized Cost, Gross Gross Estimated Fair Short-term investments: Certificates of Deposit $ 14,001,237 $ - $ 20,146 $ 13,981,091 Governmental Agency Securities 5,945,314 - 18,101 5,927,213 U.S. Treasury Notes 1,610,306 - 633 1,609,673 Total $ 21,556,857 $ - $ 38,880 $ 21,517,977 Amortized Cost, Gross Gross Estimated Fair Long-term investments: Certificates of Deposit $ 4,165,000 $ - $ 21,481 $ 4,143,519 Governmental Agency Securities 3,040,374 - 14,907 3,025,467 Total $ 7,205,374 $ - $ 36,388 $ 7,168,986 The Company’s held-to-maturity investments of $18,385,920 and $6,948,606 will mature in 2018 and 2019, respectively.

Prepaid Assets

Prepaid Assets	6 Months Ended
	Jun. 30, 2018
Prepaid Expense, Current [Abstract]
Disclosure Of Prepaid Assets [Text Block]	5. Prepaid Assets Prepaid assets consisted of the following: June 30, December 31, 2018 2017 Current: Directors & officers insurance $ 47,917 $ 162,914 Prepaid rent 21,490 21,673 Other 84,595 25,121 Total $ 154,002 $ 209,708

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	6. Property and Equipment Property and equipment consisted of the following: June 30, December 31, 2018 2017 Leasehold improvements $ 277,836 $ 22,307 Furniture and equipment 800,177 517,868 1,078,013 540,175 Less: Accumulated depreciation (347,564 ) (260,119 ) Total $ 730,449 $ 280,056 Depreciation expense was $89,704 and $45,449 for the six months ended June 30, 2018 and 2017, respectively, and $49,966 and $25,722 for the three months ended June 30, 2018 and 2017, respectively.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2018
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	7. Accrued Expenses Accrued expenses consisted of the following: June 30, December 31, 2018 2017 Accrued bonuses $ 544,804 $ 389,802 Deferred rent 74,652 - Accrued payroll 66,324 61,829 Other 122,003 54,509 Total $ 807,783 $ 506,140

Commitments

Commitments	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments Disclosure [Text Block]	8. Commitments Operating Leases The Company leases its corporate space in Minneapolis, Minnesota. At June 30, 2018, the Company had the following minimum commitments for payment of rentals which at inception had a non-cancellable term of more than one year: Amount 2018 $ 77,419 2019 188,850 2020 193,338 2021 64,940 Total $ 524,547 Rent expense for operating leases was $43,198 and $25,077 for the six months ended June 30, 2018 and 2017, respectively, and $30,009 and $12,668 for the three months ended June 30, 2018 and 2017, respectively. In connection with the corporate lease, the Company is required to maintain a $50,000 standby letter of credit. The standby letter of credit expires on July 31, 2018. In September 2017, the Company entered into a non-cancelable operating lease agreement for building space to accommodate expansion in research and development and general corporate office needs. The new lease commenced, and the Company moved to the facility in May 2018, in conjunction with the termination of the existing lease. The new lease contains provisions for future rent increases and leasehold improvement allowances. Rent expense is recorded on a straight-line basis over the lease term. The net difference of rent expense versus the actual cash paid is recorded as deferred rent. Additionally, the leasehold improvement allowances are deferred and recorded as a reduction of rental expense over the lease term using the straight-line method. Deferred rent is reflected in accrued expenses in the unaudited condensed financial statements. The new lease agreement extends through April 2021 and provides for monthly rent, real estate taxes and operating expenses. Clinical Research Study In May 2017, the Company entered into an agreement with a clinical research organization to conduct a clinical research study. The Company made a payment of $300,000 in June 2017 and $50,000 in November 2017, January 2018 and April 2018 and is obligated to make future payments of $100,000 and $50,000 in 2018 and 2019, respectively. Additional payments will be due as certain milestones are met. The maximum amount of these additional payments is estimated to be approximately $2,040,000 over the course of the agreement. Capital Leases In May 2018, the Company entered into a non-cancelable capital lease agreement for office equipment with a five-year term. The underlying assets are included in furniture and equipment. Assets recorded as property and equipment under capital leases and the accumulated depreciation thereon as of June 30, 2018 were as follows: June 30, 2018 Furniture and equipment $ 28,932 Less: Accumulated depreciation (482 ) Net book value of property and equipment under capital lease $ 28,450 As of June 30, 2018, future minimum lease payments under capital leases were as follows: Amount 2018 $ 4,232 2019 7,255 2020 7,255 2021 7,255 2022 7,255 2023 3,022 Total minimum capital lease payments 36,274 Less amount representing interest 512 Less amount representing services 6,830 Present value of net minimum capital lease payments $ 28,932

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	9. Stockholders’ Equity On September 15, 2017, in connection with its IPO, Celcuity LLC filed a certificate of conversion, whereby Celcuity LLC effected a corporate conversion from a Minnesota limited liability company to a Delaware corporation and changed its name to Celcuity Inc. Pursuant to the conversion, units of membership interest in the limited liability company were converted into shares of common stock of the corporation at a conversion ratio of 40 units for one share of common stock. The Company had 257,604,208 member units issued and outstanding as of September 15, 2017. After giving effect to the corporate conversion, the number of common shares outstanding as of such date is 6,440,139. As a result of the corporate conversion, accumulated deficit was reduced to zero on the date of the corporate conversion, and the corresponding amount was credited to additional paid-in capital. The corporate conversion was approved by members holding a majority of our outstanding units, and in connection with such conversion, the Company filed a certificate of incorporation and adopted bylaws. All references in the unaudited financial statements to the number of shares and per-share amounts of common stock have been retroactively restated to reflect the conversion. On September 22, 2017, the Company completed its IPO whereby it sold 2,760,000 shares of common stock at a public offering price of $9.50 per share. The aggregate net proceeds received by the Company from the offering were approximately $23.3 million, net of underwriting commissions of approximately $1.8 million and offering expenses of approximately $1.1 million. Upon the closing of the IPO, 10,082,050 shares of common stock were outstanding, which includes 881,911 shares of common stock issued as a result of the conversion of the Company’s Convertible Notes (See Note 11). Shares of the Company’s common stock began trading on September 20, 2017 on The Nasdaq Capital Market under the symbol “CELC”. On May 11, 2018, the Company filed an amendment to its certificate of incorporation with the Secretary of State of the State of Delaware to decrease the number of authorized shares of our common stock and preferred stock. Pursuant to the Company’s amended certificate of incorporation, the Company is authorized to issue up to 25,000,000 shares of common stock, $0.001 par value per share and 2,500,000 shares of preferred stock, $0.001 par value per share. At June 30, 2018 and December 31, 2017, the Company had common stock shares outstanding of 10,119,312 and 10,087,516, respectively. Warrants In connection with the 2016 private placement unit offering, the Company issued ten-year warrants to the placement agent of the private placement. The warrants allow the agent to purchase up to 55,249 common shares at $7.56 per share. The warrants are immediately exercisable and expire on January 14, 2026 and May 2, 2026. These warrants are equity classified and the fair value of $330,607 is reflected as additional paid-in capital. In connection with the private offering of convertible notes (Note 11), the Company issued ten-year warrants to purchase 48,615 common shares at a price of $8.42 per share to the placement agent. In addition, the Company granted the convertible notes investors the right to receive a seven-year warrant to purchase 131,675 common shares at an exercise price that is equal to the conversion price of the notes (Note 11). With the completion of the IPO on September 22, 2017, these warrants were issued. In connection with the IPO, the Company issued a five-year warrant to the underwriter. The warrant allows the underwriter to purchase up to 138,000 common shares at $10.45 per share. This warrant is immediately exercisable and expires on September 19, 2022. This warrant is equity classified and the fair value was $784,111 at the IPO offering date. At June 30, 2018 and December 31, 2017, the Company had warrants to purchase 353,980 and 373,323 common shares outstanding, respectively, at a weighted average exercise price of $9.42. A total of 19,343 and 0 warrants were exercised in the six months ended June 30, 2018 and 2017, respectively, and 0 warrants were exercised in the three months ended June 30, 2018 and 2017.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	10. Stock-Based Compensation 2012 Equity Incentive Plan The 2012 Equity Incentive Plan, as amended, was adopted by the Company’s board and approved by the members of the Company on August 10, 2012. The Company reserved a maximum of 625,000 common shares available for issuance under the 2012 Equity Incentive Plan. The 2012 Equity Incentive Plan provides for share options, restricted share awards, performance share awards or share bonuses. The exercise price of each share option granted under the 2012 Equity Incentive Plan is not less than one hundred percent (100%) of the fair market value of one share on the date of grant. The maximum permitted term of options granted under the 2012 Equity Incentive Plan is ten years. The Company’s board has administered the plan and determined the provisions of incentive awards, including eligible recipients, number of shares subject to an incentive award, exercise price, vesting schedule, duration of an incentive award and other restrictions an incentive award may be subject to. The 2012 Equity Incentive Plan was fixed on September 6, 2017 and any new awards will be issued under the terms of the 2017 Stock Incentive Plan. 2017 Stock Incentive Plan The 2017 Stock Incentive Plan, or the 2017 Plan, was adopted by the Company’s board on September 6, 2017, became effective following the corporate conversion which took place on September 15, 2017, and was approved by stockholders at the Company’s annual stockholder meeting on May 10, 2018. The Company reserved a maximum of 750,000 common shares available for issuance under the 2017 Plan. The number of shares reserved for issuance under the 2017 Plan will increase automatically on January 1, 2019 and each subsequent anniversary through January 1, 2027 by the number of shares equal to 1.0% of the aggregate number of outstanding shares of the Company’s common stock as of the immediately preceding December 31. However, the Company’s board may reduce the amount of the increase in any particular year. The maximum permitted term of options granted under the 2017 Plan is ten years. The 2017 Plan provides for share options, restricted stock awards, stock appreciation rights, restricted stock units, performance awards and stock bonuses. The exercise price of each share option granted under the 2017 Plan is not less than one hundred percent (100%) of the fair market. The 2017 Plan will generally be administered by the compensation committee of the Company’s board of directors and has the authority to interpret the plan, grant awards and make all other determinations necessary for the administration of the plan. The Black-Scholes option-pricing model was used to estimate the fair value of equity-based awards with the following weighted-average assumptions for the period ending June 30: 2018 2017 Risk-free interest rate 2.52 - 2.97% 2.00 Expected volatility 76.0% 75.0% Expected life (years) 6.25 to 10.00 6.25 to 10.00 Expected dividend yield 0% 0% The inputs for the Black-Scholes valuation model require management’s significant assumptions. Prior to the Company’s IPO, the common share price was determined by the Company’s board based on recent prices of common shares sold in private offerings prior to the IPO. Subsequent to the IPO, the common share price was determined by using the quoted price on the grant date. The risk-free interest rates were based on the rate for U.S. Treasury securities at the date of grant with maturity dates approximately equal to the expected life at the grant date. The expected life was based on the simplified method in accordance with the SEC Staff Accounting Bulletin Nos. 107 and 110. The expected volatility was estimated based on historical volatility information of peer companies that are publicly available. All assumptions used to calculate the grant date fair value of nonemployee options are generally consistent with the assumptions used for options granted to employees, except the expected life is equal to the contractual term. In the event the Company terminates any of its consulting agreements, the unvested options underlying the agreements would also be cancelled. Unvested nonemployee options were marked-to-market as of April 1, 2018, the date that the Company adopted the newly issued Accounting Standard, (ASU) No. 2018-17. The following table summarizes the activity for all stock options outstanding for the six months ended June 30 under the Plan: 2018 2017 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding at beginning of year 501,603 $ 7.58 302,088 $ 5.91 Granted 21,152 18.93 148,150 8.38 Forfeited - - (7,553 ) 3.60 Balance at June 30 522,755 $ 8.04 442,685 $ 6.78 Options exercisable at June 30: 262,393 $ 6.72 166,119 $ 5.46 Weighted Average Grant Date Fair Value for Options Granted During the period: $ 14.02 $ 5.29 The following table summarizes additional information about stock options outstanding and exercisable at June 30, 2018 under the Plan: Options Outstanding Options Exercisable Options Weighted Weighted Aggregate Options Weighted Aggregate 522,755 8.14 $ 8.04 $ 8,771,626 262,393 $ 6.72 $ 4,748,003 The Company recognized stock-based compensation expense for stock options of $501,158 and $422,816 for the six months ended June 30, 2018 and 2017, respectively, and $235,060 and $326,548 for the three months ended June 30, 2018 and 2017, respectively. A restricted stock award of 2,571 and 5,250 shares was granted to a member of the board of directors in 2018 and 2017, respectively. The Company has 2,571 and 0 restricted shares outstanding as of June 30, 2018 and 2017, respectively, and 5,250 and 0 shares vested as of June 30, 2018 and 2017, respectively. The Company recognized stock-based compensation expense for the restricted stock of $64,719 and $0 for the six months ended June 30, 2018 and 2017, respectively, and $22,431 and $0 for the three months ended June 30, 2018 and 2017, respectively. The total remaining shares available for grant under the 2017 plan is 664,297. Total unrecognized compensation cost related to stock options and restricted stock is estimated to be recognized as follows: 2018 $ 394,516 2019 515,020 2020 336,530 2021 153,773 2022 10,905 Total estimated compensation cost to be recognized $ 1,410,744 2017 Employee Stock Purchase Plan The Company’s employee stock purchase plan, or ESPP, was adopted by the Company’s board on September 6, 2017, and approved by stockholders at the Company’s annual stockholder meeting on May 10, 2018. The Company has reserved a total of 100,000 shares for issuance. The number of shares authorized and reserved for issuance under the ESPP will be automatically increased on the first day of each of the Company’s fiscal years beginning in 2019 by the number of shares equal to 0.5% of the total outstanding number of shares of common stock. However, the Company’s board may reduce the amount of the increase in any particular year. The ESPP provides participating employees with an opportunity to purchase shares of the Company’s common stock at a discount through payroll deductions. The plan is available to all employees unless they are employed for less than 20 hours per week or own 5% or more of the total combined voting power or value of the Company’s common stock. The plan is administered using overlapping 24 month offering periods, referred to as an Offering Period. Each Offering Period has four six-month purchase periods. A new Offering Period and purchase period begin every six months on May 1 and November 1 of each year. Participating employees may purchase common stock, on a voluntary after tax-basis, at a price equal to 85% of the fair market value of a share of common stock on either the offering date or the purchase date, whichever is lower. If the purchase date has a lower price, the employee will automatically be placed in the Offering Period beginning immediately after the purchase date. The Company recognized stock-based compensation expense of $46,887 and $0 for the six months ended June 30, 2018 and 2017, respectively, and $18,793 and $0 for the three months ended June 30, 2018 and 2017, respectively. The Company recognized total stock-based compensation, as follows for the three months and six months ended June 30: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Stock-based compensation expense in operating expenses: Research and development $ 175,864 $ 197,921 $ 337,535 $ 294,189 General and administrative 100,420 128,627 275,229 128,627 Total $ 276,284 $ 326,548 $ 612,764 $ 422,816

Unsecured Convertible Promissor

Unsecured Convertible Promissory Notes	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	11. Unsecured Convertible Promissory Notes In April and May of 2017, the Company issued to certain accredited investors convertible notes in the original principal amount of $5,750,000 and $2,587,500, respectively, for total principal of $8,337,500 (the “Convertible Notes”). The Convertible Notes accrued interest at a rate of 1.25% per annum from date of issuance until December 31, 2018 on a non-compounding basis. All principal and interest was due on December 31, 2018. The IPO was considered a qualified financing, therefore the outstanding principal balance and all accrued interest under the Convertible Notes automatically converted into 881,911 shares of common stock pursuant to the terms of such notes. The conversion price of the Convertible Notes was equal to the price at which the equity securities were sold in the IPO, which was $9.50 per share. In connection with the issuance of the Convertible Notes, the Company granted those investors the right to receive a seven-year warrant to purchase 131,675 common shares at an exercise price that is equal to the conversion price of the Convertible Notes. The gross proceeds of $8,337,500 was allocated $7,560,783 and $776,717 to the Convertible Notes and warrants, respectively, based on their relative fair value. The relative fair value of the warrants of $776,717 was recorded as debt discount and credited to additional paid-in capital. The resulting debt discount was amortized to interest expense using the effective interest method over the term of the Convertible Notes until converted. Cedar Point Capital, LLC (“Cedar”) served as the Company’s placement agent in connection with the placement of the Convertible Notes and earned a commission of approximately 10% of the original principal balance of such notes. Debt financing costs in the aggregate of $885,131 (not including the agent warrant discussed below), comprised primarily of the commission earned by Cedar, were amortized to interest expense using the effective interest method over the term of the Convertible Notes until converted. In addition to the commission earned by Cedar, the Company issued an agent’s ten-year warrant to purchase 48,615 common shares. The exercise price was $8.42 per share. The fair value of the agent’s warrant was $286,999 and is considered additional debt discount and was credited to additional paid-in capital. During the period beginning on January 1, 2017 and ending on September 22, 2017 (the date of the IPO closing), the Company amortized $411,375 of debt discount and financing costs to interest expense for these Convertible Notes.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	12. Income Taxes The Company has not recorded an income tax benefit for the six months and three months ended June 30, 2018 and 2017 due to net losses and recognition of a full valuation allowance.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited financial statements include the accounts of the Company and have been prepared in accordance with Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, as permitted by Article 10, the unaudited financial statements do not include all of the information required by accounting principles generally accepted in the United States (“U.S. GAAP”). The Balance Sheet at December 31, 2017 was derived from the audited financial statements at that date and does not include all the disclosures required by U.S. GAAP. In the opinion of management, all adjustments which are of a normal recurring nature and necessary for a fair presentation have been reflected in the financial statements. These unaudited condensed financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2017 and the related footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. Operating results for the three and six months ended June 30, 2018 are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period. On September 15, 2017, in relation to preparing for its initial public offering (“IPO”), Celcuity LLC filed a certificate of conversion, whereby Celcuity LLC effected a corporate conversion from a Minnesota limited liability company to a Delaware corporation and changed its name to Celcuity Inc. Pursuant to the corporate conversion, units of membership interest in the limited liability company were converted into shares of common stock of the corporation at a conversion ratio of 40 units for one share of common stock. As a result of the corporate conversion, accumulated deficit was reduced to zero on the date of the corporate conversion, and the corresponding amount was credited to additional paid-in capital. The corporate conversion was approved by members holding a majority of our outstanding units, and in connection with such conversion, the Company filed a certificate of incorporation and adopted bylaws. The Company determined that the corporate conversion is equivalent to a change in the Company’s capital structure. As such, all references in the unaudited financial statements to the number of shares and per-share amounts of member units are now presented as common stock and have been retroactively restated to reflect the conversion. On September 22, 2017, the Company completed its IPO whereby it sold 2,760,000 shares of common stock at a public offering price of $9.50 per share. The aggregate net proceeds received by the Company from the offering were approximately $23.3 million, net of underwriting discounts and commissions of approximately $1.8 million and offering expenses of approximately $1.1 million. Upon the closing of the IPO, 10,082,050 shares of common stock were outstanding, which includes 881,911 shares of common stock as a result of the conversion of the Company’s Unsecured Convertible Promissory Notes (See Note 11). Shares of the Company’s common stock began trading on September 20, 2017 on The Nasdaq Capital Market under the symbol “CELC”. On May 11, 2018, the Company filed an amendment to its certificate of incorporation to decrease the number of authorized shares of common stock and preferred stock. Pursuant to the Company’s amended certificate of incorporation, the Company is authorized to issue up to 25,000,000 shares of common stock, $0.001 par value per share and 2,500,000 shares of preferred stock, $0.001 par value per share.
Use of Estimates, Policy [Policy Text Block]	Accounting Estimates Management uses estimates and assumptions in preparing these unaudited condensed financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the valuation of stock-based compensation and warrants issued to investors, a placement agent and an underwriter, and prepaid or accrued clinical trial costs.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents, and Restricted Cash The Company maintains its accounts primarily at one financial institution. At times throughout the year, the Company’s cash balances may exceed amounts insured by the Federal Deposit Insurance Corporation. At June 30, 2018 and December 31, 2017, the Company had $3,135,878 and $2,612,104, respectively, in money market funds and U.S. Treasury Bills that are considered cash equivalents. In connection with the corporate lease, the Company is required to maintain $50,000 of cash in a separate savings account. This balance is presented as restricted cash on the balance sheets.
Investment, Policy [Policy Text Block]	Investments The Company maintains its investments in certificates of deposit, U.S. governmental agency securities and U.S. treasury notes and has classified them as held-to-maturity at the time of purchase. Held-to-maturity securities are those securities in which the Company has the ability and intent to hold until maturity. Held-to maturity securities are recorded at amortized cost, adjusted for the amortization or accretion of premiums and discounts. Premiums and discounts are amortized or accreted over the life of the related held-to-maturity security using a straight-line method. At June 30, 2018 and December 31, 2017, the Company had $25,334,526 and $28,762,231, respectively, of investments.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost. Depreciation is provided over estimated useful lives using the straight-line method. Maintenance and repairs are expensed as incurred; major improvements and betterments are capitalized. Estimated useful lives of property and equipment are as follows for the major classes of assets: Asset Description Estimated Lives Furniture and Equipment 4-5 Leasehold Improvements 2-3
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Long-Lived Assets Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third party independent appraisals, as considered necessary.
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Loss Comprehensive loss includes net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders. For all periods presented, there was no difference between net loss and comprehensive loss.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Risks and Uncertainties The Company is subject to risks common to companies in the development stage including, but not limited to, dependency on the clinical and commercial success of its diagnostic tests, ability to obtain regulatory approval of its diagnostic tests, the need for substantial additional financing to achieve its goals, uncertainty of broad adoption of its approved products, if any, by physicians and consumers, and significant competition.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The Company’s accounting for fair value measurements of assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring or nonrecurring basis adheres to the Financial Accounting Standards Board (“FASB”) fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:  Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the Company at the measurement date.  Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.  Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The level in the fair value hierarchy within which a fair measurement in its entirety falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The carrying values of cash equivalents, restricted cash, accounts payable, accrued expenses and other financial working capital items approximate fair value at June 30, 2018 and December 31, 2017 due to the short maturity nature of these items.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes using the asset and liability method, as required by the accounting standard for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss and tax credit carryforwards. Deferred taxes 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 taxes of a change in tax rates is recognized in results of operations in the period that includes the enactment date. The effects of any future changes in tax laws or rates have not been considered. The Company regularly reviews deferred tax assets to assess their potential realization and establish a valuation allowance for portions of such assets to reduce the carrying value if the Company does not consider it to be more likely than not that the deferred tax assets will be realized. The Company recognizes the impact of an uncertain tax position in its financial statements if, in management’s judgment, the position is more-likely-than-not sustainable upon audit based on the position’s technical merits. This involves the identification of potential uncertain tax positions, the evaluation of applicable tax laws and an assessment of whether a liability for an uncertain tax position is necessary.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation The Company’s stock-based compensation consists of common stock options and restricted stock issued to certain employees and nonemployees of the Company and the Company’s Employee Stock Purchase Plan. The Company recognizes compensation expense based on an estimated grant date fair value using the Black-Scholes option-pricing method. The Company has elected to account for forfeitures as they occur.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Research and development costs are expensed as incurred. Research and development costs amounted to $3,092,205 and $2,212,629 for the six months ended June 30, 2018 and 2017, respectively, and $1,546,537 and $1,303,886 for the three months ended June 30, 2018 and 2017, respectively. Clinical Trial Costs The Company records prepaid assets or accrued expenses for prepaid or estimated clinical trial costs conducted by third-party service providers, which include the conduct of preclinical studies and clinical trials. These costs are a significant component of the Company’s research and development expenses. The Company accrues for these costs based on factors such as estimates of the work completed and in accordance with agreements established with its third-party service providers under the service agreements. The Company makes significant judgments and estimates in determining the accrued liabilities balance in each reporting period. As actual costs become known, the Company adjusts its prepaid assets or accrued expenses. The Company has not experienced any material differences between accrued costs and actual costs incurred. However, the status and timing of actual services performed, number of patients enrolled and the rate of patient enrollments may vary from the Company’s estimates, resulting in an adjustment to expense in future periods. Changes in these estimates that result in material changes to the Company’s prepaid assets or accrued expenses could materially affect the Company’s results of operations.
Application of New or Revised Accounting Standards [Policy Text Block]	Application of New or Revised Accounting Standards Pursuant to the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), a company constituting an “emerging growth company” is, among other things, entitled to rely upon certain reduced reporting requirements. The Company is an emerging growth company, but has irrevocably elected not to take advantage of the extended transition period afforded by the JOBS Act for the implementation of new or revised accounting standards. As a result, the Company will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for public companies that are not emerging growth companies.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which provides guidance for accounting for leases. The new guidance requires companies to recognize the assets and liabilities for the rights and obligations created by leased assets, initially measured at the present value of the lease payments. The accounting guidance for lessors is largely unchanged. The ASU is effective for annual and interim periods beginning after December 15, 2018 with early adoption permitted. It is to be adopted using a modified retrospective approach. The Company is currently evaluating the impact that the adoption of this guidance will have on the Company’s financial statements. Recently Adopted Accounting Pronouncements In November 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-18, Restricted Cash Statement of Cash Flows (Topic 230) of the Accounting Standards Codification. The new guidance requires amounts generally described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company adopted this standard as of January 1, 2018 and applied it retrospectively. In June 2018, the FASB issued Accounting Standards Update (ASU) No. 2018-07, Improvements to Nonemployee Share-Based Payment Accounting

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Schedule Of Estimated Useful Lives Of Property Plant And Equipment [Table Text Block]	Estimated useful lives of property and equipment are as follows for the major classes of assets: Asset Description Estimated Lives Furniture and Equipment 4-5 Leasehold Improvements 2-3

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Held-to-maturity Securities [Table Text Block]	The following tables summarizes the Company’s held-to-maturity investment securities at amortized cost as of June 30, 2018 and December 31, 2017: June 30, 2018 Amortized Cost, Gross Gross Estimated Fair Short-term investments: Certificates of Deposit $ 10,609,185 $ - $ 21,912 $ 10,587,273 Governmental Agency Securities 5,285,044 - 15,359 5,269,685 U.S. Treasury Notes 2,491,691 - 2,849 2,488,842 Total $ 18,385,920 $ - $ 40,120 $ 18,345,800 Amortized Cost, Gross Gross Estimated Fair Long-term investments: Certificates of Deposit $ 3,920,000 $ - $ 43,819 $ 3,876,181 Governmental Agency Securities 3,028,606 - $ 29,974 2,998,632 Total $ 6,948,606 $ - $ 73,793 $ 6,874,813 December 31, 2017 Amortized Cost, Gross Gross Estimated Fair Short-term investments: Certificates of Deposit $ 14,001,237 $ - $ 20,146 $ 13,981,091 Governmental Agency Securities 5,945,314 - 18,101 5,927,213 U.S. Treasury Notes 1,610,306 - 633 1,609,673 Total $ 21,556,857 $ - $ 38,880 $ 21,517,977 Amortized Cost, Gross Gross Estimated Fair Long-term investments: Certificates of Deposit $ 4,165,000 $ - $ 21,481 $ 4,143,519 Governmental Agency Securities 3,040,374 - 14,907 3,025,467 Total $ 7,205,374 $ - $ 36,388 $ 7,168,986

Prepaid Assets (Tables)

Prepaid Assets (Tables)	6 Months Ended
	Jun. 30, 2018
Prepaid Expense, Current [Abstract]
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	Prepaid assets consisted of the following: June 30, December 31, 2018 2017 Current: Directors & officers insurance $ 47,917 $ 162,914 Prepaid rent 21,490 21,673 Other 84,595 25,121 Total $ 154,002 $ 209,708

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property and equipment consisted of the following: June 30, December 31, 2018 2017 Leasehold improvements $ 277,836 $ 22,307 Furniture and equipment 800,177 517,868 1,078,013 540,175 Less: Accumulated depreciation (347,564 ) (260,119 ) Total $ 730,449 $ 280,056

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2018
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Accrued expenses consisted of the following: June 30, December 31, 2018 2017 Accrued bonuses $ 544,804 $ 389,802 Deferred rent 74,652 - Accrued payroll 66,324 61,829 Other 122,003 54,509 Total $ 807,783 $ 506,140

Commitments (Tables)

Commitments (Tables)	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The Company leases its corporate space in Minneapolis, Minnesota. At June 30, 2018, the Company had the following minimum commitments for payment of rentals which at inception had a non-cancellable term of more than one year: Amount 2018 $ 77,419 2019 188,850 2020 193,338 2021 64,940 Total $ 524,547
Schedule of Capital Leased Assets [Table Text Block]	June 30, 2018 Furniture and equipment $ 28,932 Less: Accumulated depreciation (482 ) Net book value of property and equipment under capital lease $ 28,450
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	As of June 30, 2018, future minimum lease payments under capital leases were as follows: Amount 2018 $ 4,232 2019 7,255 2020 7,255 2021 7,255 2022 7,255 2023 3,022 Total minimum capital lease payments 36,274 Less amount representing interest 512 Less amount representing services 6,830 Present value of net minimum capital lease payments $ 28,932

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The Black-Scholes option-pricing model was used to estimate the fair value of equity-based awards with the following weighted-average assumptions for the period ending June 30: 2018 2017 Risk-free interest rate 2.52 - 2.97% 2.00 Expected volatility 76.0% 75.0% Expected life (years) 6.25 to 10.00 6.25 to 10.00 Expected dividend yield 0% 0%
Share-based Compensation, Stock Options, Activity [Table Text Block]	The following table summarizes the activity for all stock options outstanding for the six months ended June 30 under the Plan: 2018 2017 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding at beginning of year 501,603 $ 7.58 302,088 $ 5.91 Granted 21,152 18.93 148,150 8.38 Forfeited - - (7,553 ) 3.60 Balance at June 30 522,755 $ 8.04 442,685 $ 6.78 Options exercisable at June 30: 262,393 $ 6.72 166,119 $ 5.46 Weighted Average Grant Date Fair Value for Options Granted During the period: $ 14.02 $ 5.29
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]	The following table summarizes additional information about stock options outstanding and exercisable at June 30, 2018 under the Plan: Options Outstanding Options Exercisable Options Weighted Weighted Aggregate Options Weighted Aggregate 522,755 8.14 $ 8.04 $ 8,771,626 262,393 $ 6.72 $ 4,748,003
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block]	Total unrecognized compensation cost related to stock options and restricted stock is estimated to be recognized as follows: 2018 $ 394,516 2019 515,020 2020 336,530 2021 153,773 2022 10,905 Total estimated compensation cost to be recognized $ 1,410,744
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	The Company recognized total stock-based compensation, as follows for the three months and six months ended June 30: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Stock-based compensation expense in operating expenses: Research and development $ 175,864 $ 197,921 $ 337,535 $ 294,189 General and administrative 100,420 128,627 275,229 128,627 Total $ 276,284 $ 326,548 $ 612,764 $ 422,816

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2018
Minimum [Member] | Furniture and Equipment [Member]
Property, Plant and Equipment, Estimated Useful Lives	4
Minimum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment, Estimated Useful Lives	2
Maximum [Member] | Furniture and Equipment [Member]
Property, Plant and Equipment, Estimated Useful Lives	5
Maximum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment, Estimated Useful Lives	3

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Sep. 22, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Research and Development Expense		$ 1,546,537	$ 1,303,886	$ 3,092,205	$ 2,212,629
Common Stock, Shares Authorized		25,000,000		25,000,000		45,000,000
Common Stock, Par or Stated Value Per Share		$ 0.001		$ 0.001		$ 0.001
Preferred Stock, Shares Authorized		2,500,000		2,500,000		5,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001		$ 0.001		$ 0.001
Common Stock, Shares, Outstanding		10,119,312		10,119,312		10,087,516
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment		$ 25,334,526		$ 25,334,526		$ 28,762,231
Restricted Cash		50,000	$ 50,000	50,000	$ 50,000
Convertible Notes Payable [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities	881,911
IPO [Member]
Stock Issued During Period, Shares, New Issues	2,760,000
Shares Issued, Price Per Share	$ 9.50
Initial Public Offering Costs	$ 1,100,000
Common Stock, Shares, Outstanding	10,082,050
Commission Of Underwriter	$ 1,800,000
Proceeds From Issuance Initial Public Offering Including Ipo Expense	$ 23,300,000
Money Market and US Treasury Securities [Member]
Money Market and U.S. Treasury Bills		$ 3,135,878		$ 3,135,878		$ 2,612,104

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	353,980	103,864
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	522,755	442,685	522,755	442,685
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			2,571	0

Investments (Details)

Investments (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Amortized Cost, as Adjusted	$ 25,334,526	$ 28,762,231
Short Term Investments [Member]
Amortized Cost, as Adjusted	18,385,920	21,556,857
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	40,120	38,880
Estimated Fair Value	18,345,800	21,517,977
Short Term Investments [Member] | Certificates of Deposit
Amortized Cost, as Adjusted	10,609,185	14,001,237
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	21,912	20,146
Estimated Fair Value	10,587,273	13,981,091
Short Term Investments [Member] | Governmental Agency Securities
Amortized Cost, as Adjusted	5,285,044	5,945,314
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	15,359	18,101
Estimated Fair Value	5,269,685	5,927,213
Short Term Investments [Member] | U.S. Treasury Notes
Amortized Cost, as Adjusted	2,491,691	1,610,306
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	2,849	633
Estimated Fair Value	2,488,842	1,609,673
Long Term Investments [Member]
Amortized Cost, as Adjusted	6,948,606	7,205,374
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	73,793	36,388
Estimated Fair Value	6,874,813	7,168,986
Long Term Investments [Member] | Certificates of Deposit
Amortized Cost, as Adjusted	3,920,000	4,165,000
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	43,819	21,481
Estimated Fair Value	3,876,181	4,143,519
Long Term Investments [Member] | Governmental Agency Securities
Amortized Cost, as Adjusted	3,028,606	3,040,374
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	29,974	14,907
Estimated Fair Value	$ 2,998,632	$ 3,025,467

Investments (Details Textual)

Investments (Details Textual) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	$ 25,334,526	$ 28,762,231
Current Investments [Member]
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	18,385,920	21,556,857
Long Term Investments [Member]
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment	$ 6,948,606	$ 7,205,374

Prepaid Assets (Details)

Prepaid Assets (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Current:
Directors & Officers insurance	$ 47,917	$ 162,914
Prepaid rent	21,490	21,673
Other	84,595	25,121
Total	$ 154,002	$ 209,708

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment, Gross	$ 1,078,013	$ 540,175
Less: Accumulated depreciation	(347,564)	(260,119)
Total	730,449	280,056
Leasehold improvements [Member]
Property, Plant and Equipment, Gross	277,836	22,307
Furniture and equipment [Member]
Property, Plant and Equipment, Gross	$ 800,177	$ 517,868

Property and Equipment (Detai34

Property and Equipment (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Property, Plant and Equipment [Line Items]
Depreciation	$ 49,966	$ 25,722	$ 89,704	$ 45,449

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Accrued bonuses	$ 544,804	$ 389,802
Deferred rent	74,652	0
Accrued payroll	66,324	61,829
Other	122,003	54,509
Total	$ 807,783	$ 506,140

Commitments (Details)

Commitments (Details)	Jun. 30, 2018USD ($)
2,018	$ 77,419
2,019	188,850
2,020	193,338
2,021	64,940
Total	$ 524,547

Commitments (Details 1)

Commitments (Details 1)	Jun. 30, 2018USD ($)
Furniture and equipment	$ 28,932
Less: Accumulated depreciation	(482)
Net book value of property and equipment under capital lease	$ 28,450

Commitments (Details 2)

Commitments (Details 2)	Jun. 30, 2018USD ($)
2,018	$ 4,232
2,019	7,255
2,020	7,255
2,021	7,255
2,022	7,255
2,023	3,022
Total minimum capital lease payments	36,274
Less amount representing interest	512
Less amount representing services	6,830
Present value of net minimum capital lease payments	$ 28,932

Commitments (Details Textual)

Commitments (Details Textual) - USD ($)	1 Months Ended					3 Months Ended		6 Months Ended
	May 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Nov. 30, 2017	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Operating Leases, Rent Expense						$ 30,009	$ 12,668	$ 43,198	$ 25,077
Payments to Acquire in Process Research and Development		$ 50,000	$ 50,000	$ 50,000	$ 300,000
Contractual Obligation, Future Minimum Payments Due, Remainder of Fiscal Year						100,000		100,000
Contractual Obligation, Due in Third Year						50,000		50,000
Contractual Obligation						2,040,000		2,040,000
Lessee Capital Lease Term of Contract	5 years
Standby Letters of Credit [Member]
Long-term Line of Credit						$ 50,000		$ 50,000
Line of Credit Facility, Expiration Date								Jul. 31, 2018

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Sep. 22, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Sep. 15, 2017	May 31, 2017	Dec. 31, 2016
Common Stock, Shares, Outstanding		10,119,312		10,119,312		10,087,516
Common Stock, Shares Authorized		25,000,000		25,000,000		45,000,000
Common Stock, Par or Stated Value Per Share		$ 0.001		$ 0.001		$ 0.001
Preferred Stock, Shares Authorized		2,500,000		2,500,000		5,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001		$ 0.001		$ 0.001
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		353,980		353,980		373,323
Weighted Average Exercise Price				$ 9.42
Convertible Notes Payable [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities	881,911
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	131,675
Member Units [Member]
Common Unit, Outstanding							257,604,208
Common Stock, Shares, Outstanding							6,440,139
Common Stock [Member]
Common Unit, Outstanding						10,087,516
Common Stock, Shares, Outstanding		10,119,312		10,119,312
Warrant [Member]
Stock Issued During Period, Shares, Upon Exercise Of warrants		0	0	19,343	0
Cedar Point Capital, LLC [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	48,615							48,615
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 8.42							$ 8.42
IPO [Member]
Common Stock, Shares, Outstanding	10,082,050
Stock Issued During Period, Shares, New Issues	2,760,000
Shares Issued, Price Per Share	$ 9.50
Proceeds From Issuance Initial Public Offering Including Ipo Expense	$ 23,300,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	138,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 10.45
Warrants Not Settleable in Cash, Fair Value Disclosure	$ 784,111
Warrants Expiration Date	Sep. 19, 2022
Initial Public Offering Costs	$ 1,100,000
Commission Of Underwriter	$ 1,800,000
Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights									55,249
Class of Warrant or Right, Exercise Price of Warrants or Rights									$ 7.56
Warrants Not Settleable in Cash, Fair Value Disclosure									$ 330,607

Stock-Based Compensation (Detai

Stock-Based Compensation (Details)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Risk-free interest rate		2.00%
Expected volatility	76.00%	75.00%
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Risk-free interest rate	2.52%
Expected life (years)	6 years 3 months	6 years 3 months
Maximum [Member]
Risk-free interest rate	2.97%
Expected life (years)	10 years	10 years

Stock-Based Compensation (Det42

Stock-Based Compensation (Details 1) - $ / shares	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Shares, Options outstanding at beginning of year	501,603	302,088
Shares, Granted	21,152	148,150
Shares, Forfeited	0	(7,553)
Shares, Balance at June 30	522,755	442,685
Shares, Options exercisable at Shares, June 30	262,393	166,119
Weighted Average Exercise Price, Options outstanding at beginning of year	$ 7.58	$ 5.91
Weighted Average Exercise Price, Granted	18.93	8.38
Weighted Average Exercise Price, Forfeited	0	3.60
Weighted Average Exercise Price, Balance at June 30	8.04	6.78
Weighted Average Exercise Price, Options exercisable at June 30:	6.72	5.46
Weighted Average Grant Date Fair Value for Options Granted During the year:	$ 14.02	$ 5.29

Stock-Based Compensation (Det43

Stock-Based Compensation (Details 2) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Options Outstanding	522,755	501,603	442,685	302,088
Options Outstanding, Weighted Average Remaining Contractual Life	8 years 1 month 20 days
Options Outstanding, Weighted Average Exercise Price	$ 8.04	$ 7.58	$ 6.78	$ 5.91
Options Outstanding, Aggregate Intrinsic Value	$ 8,771,626
Options Exercisable	262,393		166,119
Options Exercisable, Weighted Average Exercise Price	$ 6.72		$ 5.46
Options Exercisable, Aggregate Intrinsic Value	$ 4,748,003

Stock-Based Compensation (Det44

Stock-Based Compensation (Details 3)	Jun. 30, 2018USD ($)
2,018	$ 394,516
2,019	515,020
2,020	336,530
2,021	153,773
2,022	10,905
Total estimated compensation cost to be recognized	$ 1,410,744

Stock-Based Compensation (Det45

Stock-Based Compensation (Details 4) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Stock-based compensation expense in operating expenses:
Total Stock-based Compensation Expense	$ 276,284	$ 326,548	$ 612,764	$ 422,816
Research and development [Member]
Stock-based compensation expense in operating expenses:
Total Stock-based Compensation Expense	175,864	197,921	337,535	294,189
General and administrative [Member]
Stock-based compensation expense in operating expenses:
Total Stock-based Compensation Expense	$ 100,420	$ 128,627	$ 275,229	$ 128,627

Stock-Based Compensation (Det46

Stock-Based Compensation (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Sep. 15, 2017	Nov. 12, 2012
Share-based Compensation	$ 276,284	$ 326,548	$ 612,764	$ 422,816
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted			2,571
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	2,571	0	2,571	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	5,250	0	5,250	0
Employee Stock Option [Member]
Share-based Compensation	$ 235,060	$ 326,548	$ 501,158	$ 422,816
Allocated Share-based Compensation Expense	18,793	0	46,887	0
Restricted Stock [Member]
Share-based Compensation	$ 22,431	$ 0	$ 64,719	$ 0
2012 Equity Incentive Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance						625,000
2017 Stock Incentive Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance					750,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	664,297		664,297
2017 Employee Stock Purchase Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance					100,000

Unsecured Convertible Promiss47

Unsecured Convertible Promissory Notes (Details Textual) - USD ($)	1 Months Ended	2 Months Ended
	Sep. 22, 2017	May 31, 2017	Jun. 30, 2018	Dec. 31, 2017	Apr. 30, 2017
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			353,980	373,323
Class of Warrant or Right,Term		10 years
Debt Insrtument, Commission Percentage		10.00%
Proceeds From Issuance Of Convertible Debt Gross		$ 8,337,500
IPO [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	138,000
Amortization of Debt Issuance Costs and Discounts	$ 411,375
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 10.45
Note Warrant [Member]
Proceeds From Issuance Of Convertible Debt Gross		$ 776,717
Cedar Point Capital, LLC [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	48,615	48,615
Adjustments to Additional Paid in Capital, Warrant Issued		$ 286,999
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 8.42	$ 8.42
Convertible Notes Payable [Member]
Debt Instrument, Face Amount		$ 8,337,500
Debt Instrument, Interest Rate, Stated Percentage		1.25%
Debt Instrument, Maturity Date		Dec. 31, 2018
Debt Instrument, Convertible, Conversion Price		$ 9.50
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	131,675
Class of Warrant or Right,Term	7 years
Adjustments to Additional Paid in Capital, Warrant Issued		$ 776,717
Debt Issuance Costs, Current, Net		$ 885,131
Debt Conversion, Converted Instrument, Shares Issued		881,911
Proceeds From Issuance Of Convertible Debt Gross		$ 7,560,783
Convertible Notes Payable [Member] | Investor [Member]
Debt Instrument, Face Amount		$ 2,587,500			$ 5,750,000