Entero Therapeutics (ENTO) 10-Q 16 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Aug. 13, 2021
Cover [Abstract]
Entity Registrant Name	AZURRX BIOPHARMA, INC.
Entity Central Index Key	0001604191
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2021
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		93,261,897
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity File Number	001-37853
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	46-4993860
Entity Address Address Line 1	777 Yamato Road
Entity Address Address Line 2	Suite 502
Entity Address City Or Town	Boca Raton
Entity Address State Or Province	FL
Entity Address Postal Zip Code	33431
City Area Code	561
Local Phone Number	589-7020
Security 12b Title	Common stock, par value $0.0001 per share
Trading Symbol	AZRX
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 8,074,491	$ 6,062,141
Other receivables	0	551,489
Prepaid expenses	540,786	1,256,154
Total Current Assets	8,615,277	7,869,784
Property, equipment, and leasehold improvements, net	89,243	18,329
Other Assets:
Patents, net	2,615,762	2,879,536
Goodwill	1,991,287	2,054,048
Operating lease right-of-use assets	395,634	74,238
Deposits	69,596	27,920
Total Other Assets	5,072,279	5,035,742
Total Assets	13,776,799	12,923,855
Current Liabilities:
Accounts payable and accrued expenses	4,643,885	1,685,603
Payable related to license agreement	1,250,000	13,250,000
Accrued dividend payable	231,043	0
Note payable	139,569	552,405
Other current liabilities	189,625	57,417
Total Current Liabilities	6,454,122	15,545,425
Other liabilities	285,753	19,123
Total Liabilities	6,739,875	15,564,548
Stockholders' Equity:
Common stock - Par value $0.0001 per share; 250,000,000 shares authorized; 82,585,075 and 31,150,309 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively.	8,260	3,115
Additional paid-in capital	120,584,938	93,834,936
Accumulated deficit	(112,330,771)	(95,366,198)
Accumulated other comprehensive loss	(1,225,503)	(1,112,546)
Total Stockholders' Equity	7,036,924	(2,640,693)
Total Liabilities and Stockholders' Equity	13,776,799	12,923,855
Series B Preferred Stock
Stockholders' Equity:
Series B preferred stock- Par value $0.0001 per share; 5,194.81 shares authorized; 676.05 and 2,773.6 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively.	0	0
Series C Preferred Stock
Stockholders' Equity:
Series B preferred stock- Par value $0.0001 per share; 5,194.81 shares authorized; 676.05 and 2,773.6 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively.	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Feb. 24, 2021	Jan. 05, 2021	Dec. 31, 2020	Jul. 16, 2020
Common stock shares, par value	$ 0.0001	$ 0.0001		$ 0.0001
Common stock shares, authorized	250,000,000	250,000,000		250,000,000
Common stock shares, issued	82,585,075			31,150,309
Common stock shares, outstanding	82,585,075			31,150,309
Preferred stock shares, par value		$ 0.0001
Preferred stock shares, authorized		10,000,000
Series B Preferred Stock
Preferred stock shares, par value	$ 0.0001			$ 0.0001
Preferred stock shares, authorized	676			5,195	5,195
Preferred stock shares, issued	677			2,774
Preferred stock shares, outstanding	2,168			2,774
Series C Preferred Stock
Preferred stock shares, par value	$ 0.0001			$ 0.0001
Preferred stock shares, authorized	57,000		75,000	57,000
Preferred stock shares, issued	0		47,542	0
Preferred stock shares, outstanding	0		47,542	0

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating expenses:
Research and development expenses	$ 5,647,798	$ 1,089,177	$ 8,163,825	$ 2,642,537
General and administrative expenses	3,629,090	1,304,527	9,326,604	2,679,618
Loss from operations	(9,276,888)	(2,393,704)	(17,490,429)	(5,322,155)
Other income (expenses):
Interest expense	(2,954)	(2,302,174)	(8,098)	(4,635,013)
Other income	898	0	1,601	0
Change in fair value of liability		0	532,353	0
Total other income (expenses)	(2,056)	(2,302,174)	525,856	(4,635,013)
Net loss-	(9,278,944)	(4,695,878)	(16,964,573)	(9,957,168)
Other comprehensive loss:
Foreign currency translation adjustment	21,840	(163,719)	(112,957)	(6,225)
Total comprehensive loss	(9,257,104)	(4,859,597)	(17,077,530)	(9,963,393)
Net loss	(9,278,944)	(4,695,878)	(16,964,573)	(9,957,168)
Deemed dividend on preferred stock issuances	0	0	(4,507,125)	0
Deemed dividend on preferred stock exchanges	(3,424,205)	0	(21,008,253)	0
Preferred stock dividends	(26,661)	0	(231,043)
Net loss applicable to common shareholders	$ (12,729,810)	$ (4,695,878)	$ (42,710,994)	$ (9,957,168)
Basic and diluted weighted average shares outstanding	78,124,399	28,016,478	66,799,183	27,479,140
Loss per share - basic and diluted	$ (0.16)	$ (0.17)	$ (0.64)	$ (0.36)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated other comprehensive loss	Series C Convertible Preferred Stock	Series B Convertible Preferred Stock
Balance, shares at Dec. 31, 2019		26,800,519
Balance, amount at Dec. 31, 2019	$ 4,617,244	$ 2,680	$ 68,575,851	$ (62,694,732)	$ (1,266,555)
Common stock issued to settle accounts payable, shares		105,937
Common stock issued to settle accounts payable, amount	131,137	$ 11	131,126	0	0
Common stock issued to consultants, shares		101,195
Common stock issued to consultants, amount	87,105	$ 10	87,095	0	0
Common stock issued to Lincoln Park for Equity Purchase agreement, shares		1,495,199
Common stock issued to Lincoln Park for Equity Purchase agreement, amount	988,348	$ 149	988,199	0	0
Warrants issued in association with convertible debt issuances	1,252,558	0	1,252,558	0	0
Beneficial conversion feature on convertible debt issuances	1,838,422	0	1,838,422	0	0
Stock-based compensation	251,129	0	251,129	0	0
Foreign currency translation adjustment	(6,225)	0	0	0	(6,225)
Net loss	(9,957,168)	$ 0	0	(9,957,168)	0
Balance, shares at Jun. 30, 2020		28,502,850
Balance, amount at Jun. 30, 2020	(797,450)	$ 2,850	73,124,380	(72,651,900)	(1,272,780)
Balance, shares at Mar. 31, 2020		27,157,651
Balance, amount at Mar. 31, 2020	3,041,123	$ 2,716	72,103,490	(67,956,022)	(1,109,061)
Common stock issued to Lincoln Park for Equity Purchase agreement, shares		1,345,199
Common stock issued to Lincoln Park for Equity Purchase agreement, amount	844,348	$ 134	844,214	0	0
Stock-based compensation	176,676	0	176,676	0	0
Foreign currency translation adjustment	(163,719)	0	0	0	(163,719)
Net loss	(4,695,878)	$ 0	0	(4,695,878)	0
Balance, shares at Jun. 30, 2020		28,502,850
Balance, amount at Jun. 30, 2020	(797,450)	$ 2,850	73,124,380	(72,651,900)	(1,272,780)
Balance, shares at Dec. 31, 2020		31,150,309					2,774
Balance, amount at Dec. 31, 2020	(2,640,693)	$ 3,115	93,834,936	(95,366,198)	(1,112,546)	$ 0	$ 0
Stock-based compensation	1,086,296	0	1,086,296	0	0	0	0
Foreign currency translation adjustment	(112,957)	0	0	0	(112,957)	0	0
Net loss	(16,964,573)	0	0	(16,964,573)	0	$ 0	0
Issuance of Series C preferred stock and warrants for cash, net of offering costs, shares						10,667
Issuance of Series C preferred stock and warrants for cash, net of offering costs, amount	7,105,168	0	7,105,167	0	0	$ 1	0
Issuance of Series C preferred stock for license acquired, shares						3,290
Issuance of Series C preferred stock for license acquired, amount	2,467,649	0	2,467,648	0	0	$ 1	0
Beneficial conversion feature of Series C preferred stock	4,507,125	0	4,507,125	0	0	0	0
Deemed dividend of Series C preferred stock	(4,507,125)	0	(4,507,125)	0	0	$ 0	$ 0
Issuance of Series C preferred stock upon exchange of Series B preferred stock, shares						19,140	(1,839)
Issuance of Series C preferred stock upon exchange of Series B preferred stock, amount	(1,430)	0	(1,431)	0	0	$ 1	$ 0
Warrants issued in connection with exchange of Series B preferred stock	21,009,683	0	21,009,683	0	0	0	0
Deemed dividend related to exchange of Series B preferred stock	(21,008,253)	$ 0	(21,008,253)	0	0	0	$ 0
Common stock issued upon conversion of Series B preferred stock, shares		2,582,782					(259)
Common stock issued upon conversion of Series B preferred stock, amount	0	$ 258	(258)	0	0	0	$ 0
Dividends on preferred stock	(231,043)	$ 0	(231,043)	0	0	$ 0	0
Common stock and pre-funded warrants issued upon conversion of Series C preferred stock, shares		31,254,595				(33,097)
Common stock and pre-funded warrants issued upon conversion of Series C preferred stock, amount	0	$ 3,126	(3,123)	0	0	$ (3)	0
Issuance of common stock, pre-funded warrants and warrants for cash, net of offering costs, shares		5,800,000
Issuance of common stock, pre-funded warrants and warrants for cash, net of offering costs, amount	9,059,290	$ 580	9,058,710	0	0	0	0
Issuance of common stock at-the-market for cash, net of offering costs, shares		1,495,645
Issuance of common stock at-the-market for cash, net of offering costs, amount	1,174,348	$ 150	1,174,198	0	0	0	0
Common stock issued upon exercise of warrants, shares		9,456,443
Common stock issued upon exercise of warrants, amount	4,906,630	$ 946	4,905,684	0	0	0	0
Common stock and warrants issued to consultants, shares		770,301
Common stock and warrants issued to consultants, amount	1,092,310	$ 78	1,092,232	0	0	0	0
Settlement with former placement agent, shares		75,000
Settlement with former placement agent, amount	94,499	$ 7	94,492	0	0	0	$ 0
Balance, shares at Jun. 30, 2021		82,585,075					676
Balance, amount at Jun. 30, 2021	7,036,924	$ 8,260	120,584,938	(112,330,771)	(1,225,503)	0	$ 0
Balance, shares at Mar. 31, 2021		74,926,902					1,209
Balance, amount at Mar. 31, 2021	14,401,687	$ 7,493	118,693,364	(103,051,827)	(1,247,343)	0	$ 0
Stock-based compensation	314,056	0	314,056	0	0	0	0
Foreign currency translation adjustment	21,840	0	0	0	21,840	0	0
Net loss	(9,278,944)	0	0	(9,278,944)	0	$ 0	$ 0
Issuance of Series C preferred stock upon exchange of Series B preferred stock, shares						5,639	(533)
Issuance of Series C preferred stock upon exchange of Series B preferred stock, amount	(422)	0	(422)	0	0	$ 0	$ 0
Warrants issued in connection with exchange of Series B preferred stock	3,424,626	0	3,424,626	0	0	0	0
Deemed dividend related to exchange of Series B preferred stock	(3,424,205)	0	(3,424,205)	0	0	0	0
Dividends on preferred stock	(26,661)	$ 0	(26,661)	0	0	$ 0	0
Common stock and pre-funded warrants issued upon conversion of Series C preferred stock, shares		5,639,153				(5,639)
Common stock and pre-funded warrants issued upon conversion of Series C preferred stock, amount	0	$ 564	(564)	0	0	$ 0	0
Issuance of common stock at-the-market for cash, net of offering costs, shares		1,495,645
Issuance of common stock at-the-market for cash, net of offering costs, amount	1,174,348	$ 150	1,174,198	0	0	0	0
Common stock issued upon exercise of warrants, shares		328,375
Common stock issued upon exercise of warrants, amount	282,788	$ 33	282,755	0	0	0	0
Common stock and warrants issued to consultants, shares		195,000
Common stock and warrants issued to consultants, amount	147,811	$ 20	147,791	0	0	0	0
Settlement with former placement agent	0	$ 0	0	0	0	0	$ 0
Balance, shares at Jun. 30, 2021		82,585,075					676
Balance, amount at Jun. 30, 2021	$ 7,036,924	$ 8,260	$ 120,584,938	$ (112,330,771)	$ (1,225,503)	$ 0	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (16,964,573)	$ (9,957,168)
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:
Depreciation	3,014	18,368
Amortization	263,774	263,774
Non-cash lease expense	(4,855)	(6,065)
Common stock issued to settle accounts payable	0	131,137
Change in fair value of liability	(532,353)	0
Stock-based compensation	1,086,296	251,129
Restricted stock granted to employees/directors	0	21,003
Common stock granted to consultants	1,186,809	87,105
Accreted interest on convertible debt	0	319,196
Accretion of debt discount	0	4,203,182
Changes in assets and liabilities:
Accounts receivables	0	(36,033)
Other receivables	551,489	2,548,659
Prepaid expenses	715,368	274,019
Right of use assets	(316,541)	(108,447)
Deposits	(41,676)	5,000
Accounts payable and accrued expenses	2,958,282	(571,728)
Deferred offering costs	0	(192,071)
Accrued dividends payable	0	0
Other liabilities	398,838	135,210
Net cash used in operating activities	(10,696,128)	(2,634,733)
Cash flows from investing activities:
Purchase of property and equipment	(73,928)	(2,808)
Payment made related to license agreement	(9,000,000)	0
Net cash used in investing activities	(9,073,928)	(2,808)
Cash flows from financing activities:
Proceeds from issuance of notes payable, net	0	179,418
Proceeds from issuance of preferred stock, net	7,105,168	0
Proceeds from issuance of common stock, net	10,233,638	988,348
Proceeds from exercise of warrants	4,906,630	0
Proceeds from issuance of convertible debt, net	0	3,227,002
Repayments of convertible debt	0	(450,000)
Repayments of note payable	(412,836)	(511,173)
Net cash provided by financing activities	21,832,600	3,433,595
Increase in cash	2,062,544	796,054
Effect of exchange rate changes on cash	(50,194)	13,100
Cash and cash equivalents, beginning balance	6,062,141	175,796
Cash and cash equivalents, ending balance	8,074,491	984,950
Supplemental disclosures of cash flow information:
Cash paid for interest	0	104,153
Cash paid for income taxes	0	0
Non-cash investing and financing activities:
Deemed dividend on preferred stock issuances	(4,507,125)	0
Deemed dividend on preferred stock exchanges	21,008,253	0
Accrued dividends on preferred stock	(231,043)	0
Issuance of preferred stock to settle liability related to license agreement	$ 2,467,649	$ 0

The Company and Basis of Presen

The Company and Basis of Presentation	6 Months Ended
	Jun. 30, 2021
The Company and Basis of Presentation
Note 1 - The Company and Basis of Presentation	N ote 1 - The Company and Basis of Presentation The Company AzurRx BioPharma, Inc. (“ AzurRx Parent ProteaBio Europe SAS ABS Company The Company is engaged in the research and development of targeted, non-systemic therapies for the treatment of patients with gastrointestinal (“ GI Our lead drug candidate is MS1819, a recombinant lipase for the treatment of exocrine pancreatic insufficiency (“ EPI CF In 2021, we are launching two new clinical programs using proprietary formulations of niclosamide, a small molecule with anthelminthic, anti-viral and anti-inflammatory properties. The first FW-1022, is for Severe Acute Respiratory Syndrome Coronavirus 2 (“ COVID-19 ICI-AC Since its inception, the Company has devoted substantially all its efforts to research and development, business development, and raising capital, and has primarily financed its operations through issuance of common stock, convertible preferred stock, convertible debt, and other debt/equity instruments. The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, development and regulatory success, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations, and ability to secure additional capital to fund clinical trials and operations. Historically, the Company’s major sources of cash have been comprised of proceeds from various public and private offerings of its capital stock. As of June 30, 2021, the Company had approximately $8.1 million in cash and cash equivalents. The Company has incurred recurring losses, has experienced recurring negative operating cash flows, and requires significant cash resources to execute its business plans. The Company has an accumulated deficit of approximately $112.3 million as of June 30, 2021. The Company has implemented business continuity plans designed to address and mitigate the impact of the COVID-19 pandemic on our business. The extent to which the ongoing COVID-19 pandemic impacts our business, our clinical development and regulatory efforts, our corporate development objectives and the value of and market for our Common Stock, will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the U.S., Europe and other countries, and the effectiveness of actions taken globally to contain and treat the disease. The global economic slowdown, the overall disruption of global healthcare systems and the other risks and uncertainties associated with the pandemic could have a material adverse effect on our business, financial condition, results of operations and growth prospects. In addition, the Company is subject to other challenges and risks specific to its business and its ability to execute on its strategy, as well as risks and uncertainties common to companies in the biotechnology and pharmaceutical industries with development and commercial operations, including, without limitation, risks and uncertainties associated with: obtaining regulatory approval of its drug candidates; delays or problems in the manufacture and supply of its drug candidates, loss of single source suppliers or failure to comply with manufacturing regulations; identifying, acquiring or in-licensing additional products or drug candidates; pharmaceutical product development and the inherent uncertainty of clinical success; and the challenges of protecting and enhancing our intellectual property rights; complying with applicable regulatory requirements. In addition, to the extent the ongoing COVID-19 pandemic adversely affects the Company’s business and results of operations, it may also have the effect of heightening many of the other risks and uncertainties discussed above. Basis of Presentation and Principles of Consolidation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“ GAAP In our opinion, the accompanying unaudited interim consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly our financial position, results of operations, and cash flows. The consolidated balance sheet at December 31, 2020, has been derived from audited financial statements of that date. The unaudited interim consolidated results of operations are not necessarily indicative of the results that may occur for the full fiscal year. Certain information and footnote disclosure normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to instructions, rules, and regulations prescribed by the SEC. The Company believes that the disclosures provided herein are adequate to make the information presented not misleading when these unaudited interim consolidated financial statements are read in conjunction with the audited financial statements and notes previously distributed in our Annual Report Form 10-K for the year ended December 31, 2020, filed with the SEC on March 31, 2021. Going Concern Uncertainty The accompanying unaudited interim consolidated financial statements have been prepared as if the Company will continue as a going concern. The Company has incurred significant operating losses and negative cash flows from operations since inception. On June 30, 2021, we had cash and cash equivalents of approximately $8.1 million, and an accumulated deficit of approximately $112.3 million. The Company is dependent on obtaining additional working capital funding from the sale of equity and/or debt securities in order to continue to execute its development plans and continue operations. Without adequate working capital, the Company may not be able to meet its obligations and continue as a going concern. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Significant Accounting Policies

Significant Accounting Policies and Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2021
Significant Accounting Policies and Recent Accounting Pronouncements
Note 2 - Significant Accounting Policies and Recent Accounting Pronouncements	Note 2 - Significant Accounting Policies and Recent Accounting Pronouncements Use of Estimates The accompanying unaudited consolidated financial statements are prepared in conformity with GAAP and include certain 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 (including goodwill, intangible assets, and contingent consideration), and the reported amounts of revenue and expense during the reporting period, including contingencies. Accordingly, actual results may differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less from date of purchase to be cash equivalents. All cash balances were highly liquid on June 30, 2021, and December 31, 2020, respectively. Concentrations of Credit Risk Financial instruments that potentially expose the Company to concentrations of credit risk consist of cash. The Company primarily maintains its cash balances with financial institutions in federally insured accounts in the U.S. The Company may from time to time have cash in banks in excess of FDIC insurance limits. On June 30, 2021, and December 31, 2020, the Company had approximately $3.8 million and $2.7 million, respectively, in one account in the U.S. in excess of these limits. The Company has not experienced any losses to date resulting from this practice. The Company mitigates its risk by maintaining the majority of its cash and equivalents with high quality financial institutions. The Company also has exposure to foreign currency risk as its subsidiary in France has a functional currency in Euros. Debt Instruments Detachable warrants issued in conjunction with debt are measured at their relative fair value, if they are determined to be equity instrument, or their fair value, if they are determined to be liability instruments, and recorded as a debt discount. Conversion features that are in the money at the commitment date constitute a beneficial conversion feature that is measured at its intrinsic value and recognized as debt discount. Debt discount is amortized as interest expense over the maturity period of the debt using the effective interest method. Contingent beneficial conversion features are recognized when the contingency has been resolved. Debt Issuance Costs Debt issuance costs are recorded as a direct reduction of the carrying amount of the related debt. Debt issuance costs are amortized over the maturity period of the related debt instrument using the effective interest method. Equity-Based Payments to Non-Employees Equity-based payments to non-employees are measured at fair value on the grant date per ASU No. 2018-07, Improvements to Nonemployee Share-Based Payment Accounting. Fair Value Measurements The Company follows Accounting Standards Codification (“ASC” (“ASC 820” As a basis for considering such assumptions, a three-tier fair value hierarchy has been established, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions, which reflect those that a market participant would use. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the overall fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. The Company recognizes transfers between levels as if the transfers occurred on the last day of the reporting period. Foreign Currency Translation The Company’s foreign subsidiary has operations denominated in a foreign currency, and assets and liabilities are translated to U.S. dollars, which is the functional currency, at period end exchange rates. Income and expense items are translated at average rates of exchange prevailing during the periods presented. Gains and losses from translation adjustments are accumulated in a separate component of stockholders’ equity. Goodwill and Intangible Assets Goodwill represents the excess of the purchase price of the acquired business over the fair value of amounts assigned to assets acquired and liabilities assumed. Goodwill and other intangible assets with indefinite useful lives are reviewed for impairment annually or more frequently if events or circumstances indicate impairment may be present. Any excess in carrying value over the estimated fair value is charged to results of operations. The Company has not recognized any impairment charges through June 30, 2021. Intangible assets subject to amortization consist of in process research and development, license agreements, and patents reported at the fair value at date of the acquisition less accumulated amortization. Amortization expense is provided using the straight-line method over the estimated useful lives of the assets as follows: Patents 7.2 years Impairment of Long-Lived Assets The Company periodically evaluates its long-lived assets for potential impairment in accordance with ASC Topic 360, Property, Plant and Equipment (“ASC 360” Income Taxes Income taxes are recorded in accordance with ASC 740, Accounting for Income Taxes (“ASC 740” The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. On June 30, 2021, and December 31, 2020, the Company does not have any significant uncertain tax positions. All tax years are still open for audit. Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in right-of-use (“ ROU License Agreements As more fully discussed in Note 14, the Company entered into a license agreement (the “ First Wave License Agreement First Wave As more fully discussed in Note 14, the Company entered into a sublicense agreement with TransChem, Inc. (“ TransChem Research and Development Research and development costs are charged to operations when incurred and are included in operating expense, except for goodwill related to patents. Research and development costs consist principally of compensation of employees and consultants that perform the Company’s research activities, payments to third parties for preclinical and non-clinical activities, expenses with clinical research organizations (CROs), investigative sites, consultants and contractors that conduct or provide other services relating to clinical trials, costs to acquire drug product, drug supply and clinical trial materials from contract development and manufacturing organization (CDMOs) and third-party contractors relating to chemistry, manufacturing and controls (“ CMC Stock-Based Compensation The Company’s board of directors (the “ Board 2014 Plan 2020 Plan ASC 718 For awards with performance conditions that affect their vesting, such as the occurrence of certain transactions or the achievement of certain operating or financial milestones, recognition of fair value of the award occurs when vesting becomes probable. The Company estimates the grant date fair value of stock option awards using the Black-Scholes option-pricing model. The use of the Black-Scholes option-pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the Common Stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the Common Stock. Subsequent Events The Company considered events or transactions occurring after the balance sheet date but prior to the date the consolidated financial statements are available to be issued for potential recognition or disclosure in its consolidated financial statements. Recent Accounting Pronouncements In August 2020, the FASB issued accounting pronouncement (ASU 2020-06) related to the measurement and disclosure requirements for convertible instruments and contracts in an entity’s own equity. The pronouncement simplifies and adds disclosure requirements for the accounting and measurement of convertible instruments and the settlement assessment for contracts in an entity’s own equity. As a smaller reporting company, as defined by the U.S. Securities and Exchange Commission (the “SEC”

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures
Note 3 - Fair Value Disclosures	Note 3 - Fair value is the price that would be received from the sale of an asset or paid to transfer a liability assuming an orderly transaction in the most advantageous market at the measurement date. U.S. GAAP establishes a hierarchical disclosure framework that prioritizes and ranks the level of observability of inputs used in measuring fair value. The fair value of the Company’s financial instruments are as follows: Fair Value Measured at Reporting Date Using Carrying Amount Level 1 Level 2 Level 3 Fair Value June 30, 2021: Cash and cash equivalents $ 8,074,491 $ 4,072,706 $ 4,001,785 $ - $ 8,074,491 Other receivables $ - $ - $ - $ - $ - Note payable $ 139,569 $ - $ - $ 139,569 $ 139,569 December 31, 2020: Cash and cash equivalents $ 6,062,141 $ 3,000,184 $ 3,061,957 $ - $ 6,062,141 Other receivables $ 551,489 $ - $ - $ 551,489 $ 551,489 Note payable $ 552,405 $ - $ - $ 552,405 $ 552,405 On June 30, 2021, and December 31, 2020, cash and cash equivalents included approximately $4.1 million, and $3.0 million, respectively, held in high-quality money market funds quoted in an active market and included in level 1 in the table above. The fair value of other receivables approximates carrying value as these consist primarily of French research and development tax credits that are normally received the following year. The fair value of the note payable in connection with the financing of directors and officer’s liability insurance approximates carrying value due to the terms of such instruments and applicable interest rates.

Other Receivables

Other Receivables	6 Months Ended
	Jun. 30, 2021
Other Receivables
Note 4 - Other Receivables	Note 4 - Other Receivables Other receivables consisted of the following: June 30, December 31, 2021 2020 Research and development tax credits $ - $ 493,906 Other - 57,583 Total other receivables $ - $ 551,489 On December 31, 2020, research and development tax credits were comprised of the 2020 refundable tax credits (CIR) for research conducted in France and Europe. In April 2021, the Company received payment for the 2020 refundable tax credits for research conducted in France of approximately $550,000.

Property, Equipment, and Leaseh

Property, Equipment, and Leasehold Improvements	6 Months Ended
	Jun. 30, 2021
Property, Equipment, and Leasehold Improvements
Note 5 - Property, Equipment, and Leasehold Improvements	Note 5 - Property, Equipment and Leasehold Improvements Property, equipment, and leasehold improvements consisted of the following: June 30, December 31, 2021 2020 Laboratory equipment $ - $ 2,410 Computer equipment and software 48,275 19,676 Office equipment 42,193 5,483 Leasehold improvements - 29,163 Total property, plant, and equipment 90,468 56,732 Less accumulated depreciation (1,225 ) (38,403 ) Property, plant and equipment, net $ 89,243 $ 18,329 Depreciation expense for the three months ended June 30, 2021 and 2020 was approximately $2,000 and $9,000, respectively. Depreciation expense for the six months ended June 30, 2021 and 2020 was approximately $3,000 and $18,000, respectively. For the six months ended June 30, 2021, approximately $2,000 of depreciation was included in research and development expense and approximately $1,000 of depreciation was included in general and administrative expense. During the six months ended June 30, 2021, approximately $29,000 of leaseholds improvements were written off in connection with closing the Company’s laboratory in France. For the three months ended June 30, 2020, approximately $5,000 of depreciation was included in research and development expense and approximately $4,000 of depreciation is included in general and administrative expense. For the six months ended June 30, 2020, $9,000of depreciation is included in research and development expense and $9,000 of depreciation is included in general and administrative expense.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2021
Intangible Assets and Goodwill
Note 6 - Intangible Assets and Goodwill	Note 6 - Intangible Assets and Goodwill Patents Pursuant to the Mayoly APA entered into in March 2019 (see Note 14), in which the Company purchased all remaining rights, title and interest in and to MS1819 from Mayoly, the Company recorded Patents in the amount of approximately $3.8 million as follows: Common stock issued at signing to Mayoly $ 1,740,959 Due to Mayoly at December 31, 2019 449,280 Due to Mayoly at December 31, 2020 393,120 Assumed Mayoly liabilities and forgiveness of Mayoly debt 1,219,386 $ 3,802,745 Intangible assets are as follows: June 30, December 31, 2021 2020 Patents $ 3,802,745 $ 3,802,745 Less accumulated amortization (1,186,983 ) (923,209 ) Patents, net $ 2,615,762 $ 2,879,536 Amortization expense was approximately $132,000 and $132,000 for the three months ended June 31, 2021, and 2020, respectively. Amortization expense was approximately $264,000 and $264,000 for the six months ended June 31, 2021, and 2020, respectively. As of June 30, 2021, amortization expense related to patents is expected to be as follows for the next five years (2021 through 2026): 2021 (balance of year) $ 263,774 2022 527,548 2023 527,548 2024 527,548 2025 527,548 2026 241,796 Total $ 2,615,762 Goodwill is as follows: Goodwill Balance on January 1, 2020 1,886,686 Foreign currency translation 167,362 Balance on December 31, 2020 2,054,048 Foreign currency translation (62,761 ) Balance on June 30, 2021 1,991,287

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	6 Months Ended
	Jun. 30, 2021
Accounts Payable and Accrued Expenses
Note 7 - Accounts Payable and Accrued Expenses	Note 7 - Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following: June 30, December 31, 2021 2020 Trade payables $ 4,449,910 $ 1,558,591 Accrued expenses 193,975 127,012 Total accounts payable and accrued expenses $ 4,643,885 $ 1,685,603

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2021
Notes Payable
Note 8 - Notes Payable	Note 8 - Note Payable Directors and Officer’s Liability Insurance On November 30, 2020, the Company entered into a 9-month financing agreement for its directors and officer’s liability insurance in the amount of approximately $620,000 that bears interest at an annual rate of 4.250%. Monthly payments, including principal and interest, of approximately $70,000 per month. The balance due under this financing agreement was approximately $140,000 and $552,000 on June 30, 2021 and December 31, 2020, respectively. On December 5, 2019, the Company entered into a 9-month financing agreement for its directors and officer’s liability insurance in the amount of approximately $500,000 that bears interest at an annual rate of 5.461%. Monthly payments, including principal and interest, were approximately $57,000 per month. The balance due under this financing agreement was approximately $113,000 on June 30, 2020.

Convertible Debt

Convertible Debt	6 Months Ended
	Jun. 30, 2021
Convertible Debt
Note 9 - Convertible Debt	Note 9 – Convertible Debt The ADEC Note Offering On February 14, 2019, the Company entered into a note purchase agreement with ADEC Private Equity Investments, LLC ( “ADEC” “ADEC Note,” “ADEC Notes” ADEC Note Offering In December 2019, the Company repaid $1,550,000 principal amount of the ADEC Notes and in January 2020, the Company repaid the remaining principal balance of $450,000 plus outstanding accrued interest of approximately $104,000 on the ADEC Notes Senior Convertible Promissory Note Offering On December 20, 2019, the Company began an offering of (i) Senior Convertible Promissory Notes (each a “ Promissory Note Promissory Notes Note Investors Note Warrants Promissory Promissory Note Offering The Promissory Notes were scheduled to mature on September 20, 2020, accrue interest at a rate of 9% per annum, and were convertible, at the sole option of the holder, into shares of Common Stock (the “ Promissory Note Conversion Shares Conversion Option Prepayment Option On January 2, 2020, January 3, 2020, and January 9, 2020, the Company issued Promissory Notes to the Note Investors in the aggregate principal amount of approximately $3.5 million. As additional consideration for the execution of the Promissory NPA, each Note Investor also received Note Warrants to purchase that number of shares of Common Stock equal to one-half (50%) of the Promissory Note Conversion Shares issuable upon conversion of the Promissory Notes (the “ Note Warrant Shares In connection with the three closings in January 2020 of the Promissory The Company determined the Prepayment Option feature represents a contingent call option. The Company evaluated the Prepayment Option in accordance with ASC 815-15-25. The Company determined that the Prepayment Option feature is clearly and closely related to the debt host instrument and is not an embedded derivative requiring bifurcation. Additionally, the Company determined the Conversion Option represents an embedded call option. The Company evaluated the Conversion Option in accordance with ASC 815-15-25. The Company determined that the Conversion Option feature meets the scope exception from ASC 815 and is not an embedded derivative requiring bifurcation. The Company evaluated the Promissory Notes for a beneficial conversion feature in accordance with ASC 470-20. The Company determined that at each commitment date the effective conversion price was below the closing stock price (market value), and the Convertible Notes contained a beneficial conversion feature. Pursuant to the January 2020 closings of the Promissory Note Offering, the principal amount of approximately $3.5 million was first allocated based on the relative fair value of the Promissory Notes and the Note Warrants. The fair value of the Note Warrants amounted to approximately $2.4 million. Then the beneficial conversion feature was calculated, which amounted to approximately $1.8 million. The Company incurred debt issuance costs of approximately $0.5 million related to the offering. The initial carrying value of the Promissory Notes issued amounted to approximately $0.1 million. On June 1, 2020, the Company entered into an amendment to a certain Promissory Note in the principal amount of $100,000 issued on December 20, 2019, to Edward J. Borkowski, the chairman of the Board, to increase the Conversion Price to $1.07 per share (the “ Note Amendment During the three months ended June 30, 2020, the Company recognized approximately $2.3 million of interest expense related to these Promissory Notes, including amortization of debt discount related to the value of the Note Warrants of approximately $0.7 million, amortization of the beneficial conversion feature of approximately $1.1 million, amortization of debt discount related to debt issuance costs of approximately $0.3 million, and accrued interest expense of approximately $0.2 million. During the six months ended June 30, 2020, the Company recognized approximately $4.5 million of interest expense related to these Promissory Notes, including amortization of debt discount related to the value of the Note Warrants of approximately $1.3 million, amortization of the beneficial conversion feature of approximately $2.2 million, amortization of debt discount related to debt issuance costs of approximately $0.7 million and accrued interest expense of approximately $0.3 million.

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 30, 2021
Other Liabilities
Note 10 - Other Liabilities	Note 10 – Other Liabilities Other liabilities consisted of the following: June 30, December 31, 2021 2020 Current Lease liabilities $ 118,486 $ 57,417 Other liabilities 71,139 - $ 189,625 $ 57,417 Long-term Lease liabilities $ 285,753 $ 19,123 $ 285,753 $ 19,123

Equity

Equity	6 Months Ended
	Jun. 30, 2021
Equity
Note 11 - Equity	Note 11 – Equity Our certificate of incorporation, as amended and restated on December 20, 2019 and February 24, 2021 (the “ Charter On February 24, 2021 the Company held a Special Meeting of Stockholders (the “ 2021 Special Meeting Reverse Split Common Stock The Company had 82,585,075 and 31,150,309 shares of its Common Stock issued and outstanding on June 30, 2021, and December 31, 2020, respectively. Each holder of Common Stock is entitled to one vote for each share of Common Stock held on all matters submitted to a vote of the stockholders. The Company’s Charter and Amended and Restated Bylaws (the “ Bylaws In addition, the holders of Common Stock will be entitled to receive ratably such dividends, if any, as may be declared by the Board out of legally available funds; however, the current policy of the Board is to retain earnings, if any, for operations and growth. Upon liquidation, dissolution or winding-up, the holders of Common Stock will be entitled to share ratably in all assets that are legally available for distribution. Holders of Common Stock have no preemptive, conversion or subscription rights, and there are no redemption or sinking fund provisions applicable to the Common Stock. The rights, preferences, and privileges of the holders of Common Stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of the Company’s preferred stock that the Company may designate and issue in the future. Preferred Stock We have 10,000,000 shares of preferred stock, par value $0.0001 per share, authorized and available for issuance in one or more series. The Board is authorized to divide the preferred stock into any number of series, fix the designation and number of each such series, and determine or change the designation, relative rights, preferences, and limitations of any series of preferred stock. The Board of may increase or decrease the number of shares initially fixed for any series, but no decrease may reduce the number below the shares then outstanding and duly reserved for issuance. On July 16, 2020, we authorized 5,194.805195 shares as Series B Preferred Stock. Shares of Series B Preferred Stock that are converted into shares of Common Stock shall be retired and may not be reissued as Series B Preferred Stock but may be reissued as all or part of another series of Preferred Stock. On June 30, 2021, 676.05 shares of Series B Preferred Stock were issued and outstanding, with approximately 2,168.14 shares of Series B Preferred Stock remaining authorized but unissued. On January 5, 2021, we authorized 75,000 shares as Series C Preferred Stock. Shares of Series C Preferred Stock converted into Common Stock (or Prefunded Warrants, as applicable) or redeemed shall be canceled and shall not be reissued. On June 30, 2021, 0 shares of Series C Preferred Stock were issued and outstanding, with approximately 41,902.90 shares of Series C Preferred Stock remaining authorized but unissued. On June 30, 2021, the Company had approximately 676.05 shares of preferred stock issued and outstanding with approximately 9,919,805.19 shares of preferred stock remaining authorized but unissued. Series B Convertible Preferred Stock Pursuant to the Certificate of Designation of Rights and Preferences of the Series B Preferred Stock (the “ Series B Certificate of Designation Ranking The Series B Preferred Stock will rank senior to the Common Stock with respect to distributions of assets upon the liquidation, dissolution or winding up of the Company. Stated Value Each share of Series B Preferred Stock has a stated value of $7,700, subject to adjustment for stock splits, combinations, and similar events (the “ Series B Stated Value Dividends Each holder of shares of Series B Preferred Stock, in preference and priority to the holders of all other classes or series of stock of the Company, is entitled to receive dividends, commencing from the date of issuance. Such dividends may be paid by the Company only when, as and if declared by the Board, out of assets legally available therefor, semiannually in arrears on the last day of June and December in each year, commencing December 31, 2020, at the dividend rate of 9.0% per year, which is cumulative and continues to accrue on a daily basis whether or not declared and whether or not the Company has assets legally available therefor. The Company may pay such dividends at its option either in cash or in kind in additional shares of Series B Preferred Stock (rounded down to the nearest whole share), provided the Company must pay in cash the fair value of any such fractional shares in excess of $100.00. On June 30, 2021, aggregate dividends payable amounted to approximately $231,000. Liquidation Preference; Liquidation Rights Under the Certificate of Designations, each share of Series B Preferred Stock carries a liquidation preference equal to the Series B Stated Value (as adjusted thereunder) plus accrued and unpaid dividends thereon (the “ Liquidation Preference If the Company voluntarily or involuntarily liquidates, dissolves or winds up its affairs, each holder of the Series B Preferred Stock will be entitled to receive out of the Company’s assets available for distribution to stockholders, after satisfaction of liabilities to creditors, if any, but before any distribution of assets is made on the Common Stock or any of the Company’s shares of stock ranking junior as to such a distribution to the Series B Preferred Stock, a liquidating distribution in the amount of the Stated Value of all such holder’s Series B Preferred Stock plus all accrued and unpaid dividends thereon. On June 30, 2021, the value of the liquidation preference of the Series B Preferred Stock aggregated to approximately $5.4 million. Conversion Each share of Series B Preferred Stock will be convertible at the holder’s option at any time, into Common Stock at a conversion rate equal to the quotient of (i) the Series B Stated Value divided by (ii) the initial conversion price of $0.77, subject to specified adjustments for stock splits, cash or stock dividends, reorganizations, reclassifications other similar events as set forth in the Series B Certificate of Designations. In addition, at any time after the six month anniversary of the Series B Closing Date, if the closing sale price per share of Common Stock exceeds 250% of the initial conversion price, or $1.925, for 20 consecutive trading days, then all of the outstanding shares of Series B Preferred Stock will automatically convert (the “ Automatic Conversion Most Favored Nations (MFN) Exchange Right In the event the Company effects any issuance by the Company or any of its subsidiaries of Common Stock or Common Stock equivalents for cash consideration, or a combination of units thereof (a “ Subsequent Financing Series B Exchange Amount Series B Exchange Right As of June 30, 2021, holders of approximately 1,839.76 shares of Series B Preferred Stock with an aggregate Series B Exchange Amount of approximately $14.4 million had previously elected to exercise their Series B Exchange Rights into Series C Preferred Stock, convertible into an aggregate of 19,140,240 shares of Common Stock (which conversion the Company elected to make in full), and additional January 2021 Investor Warrants exercisable for up to an aggregate of 19,140,140 shares of Common Stock. As a result, as of June 30, 2021, any holders of Series B Preferred Stock who elect to exercise their Series B Exchange Right in connection with up to 676.05 shares of Series B Preferred Stock plus accrued dividends of approximately $231,000 may require the Company to issue up to 7,248.85 additional shares of Series C Preferred Stock that are currently convertible up to7,248,846 underlying shares of Common Stock, together with January 2021 Investor Warrants to purchase up to an additional 7,248,846 shares of Common Stock, to any holders of Series B Preferred Stock who elect to exercise their Series B Exchange Right into the January 2021 Offerings. Any shares of Series C Preferred Stock to be issued pursuant to the Series B Exchange Right into the January 2021 Offerings would, upon issuance, be immediately converted into underlying shares of Common Stock. Voting The holders of the Series B Preferred Stock, voting as a separate class, have customary consent rights with respect to certain corporate actions of the Company. The Company may not take the following actions without the prior consent of the holders of at least a majority of the Series B Preferred Stock then outstanding: (a) authorize, create, designate, establish, issue or sell an increased number of shares of Series B Preferred Stock or any other class or series of capital stock ranking senior to or on parity with the Series B Preferred Stock as to dividends or upon liquidation; (b) reclassify any shares of Common Stock or any other class or series of capital stock into shares having any preference or priority as to dividends or upon liquidation superior to or on parity with any such preference or priority of Series B Preferred Stock; (c) amend, alter or repeal the Certificate of Incorporation or Bylaws of the Company and the powers, preferences, privileges, relative, participating, optional and other special rights and qualifications, limitations and restrictions thereof, which would adversely affect any right, preference, privilege or voting power of the Series B Preferred Stock; (d) issue any indebtedness or debt security, other than trade accounts payable, insurance premium financings and/or letters of credit, performance bonds or other similar credit support incurred in the ordinary course of business, or amend, renew, increase, or otherwise alter in any material respect the terms of any such indebtedness existing as of the date of first issuance of shares of Series B Preferred Stock; (e) redeem, purchase, or otherwise acquire or pay or declare any dividend or other distribution on (or pay into or set aside for a sinking fund for any such purpose) any capital stock of the Company; (f) declare bankruptcy, dissolve, liquidate, or wind up the affairs of the Company; (g) effect, or enter into any agreement to effect, a Change of Control (as defined in the Certificate of Designations); or (h) materially modify or change the nature of the Company’s business. 2014 Equity Incentive Plan The Company’s Board and stockholders adopted and approved the Amended and Restated 2014 Omnibus Equity Incentive Plan (the “ 2014 Plan The Company issued an aggregate of 795,006 stock options, during the six months ended June 30, 2020, under the 2014 Plan (see Note 13). As of June 30, 2021, there were 2,720,500 shares issued and outstanding under the 2014 Plan and 387,000 shares are reserved subject to issuance of restricted stock and restricted stock unit awards (“ RSUs 2020 Equity Incentive Plan The Company’s Board and stockholders adopted and approved the 2020 Omnibus Equity Incentive Plan (the “ 2020 Plan ISOs The Company issued an aggregate of 1,564,691 stock options during the six months ended June 30, 2021, under the 2020 Plan (see Note 13). As of June 30, 2021, 10,000,000 total shares were available under the 2020 Plan, of which 1,574,691 were issued and outstanding and 8,425,309 shares were available for potential issuances. Equity Line with Lincoln Park In November 2019, the Company entered into a purchase agreement (the “ Equity Line Agreement Lincoln Park Registration Rights Agreement Equity Line Commitment Shares The remaining shares of Common Stock that may be issued under the Equity Line Agreement may be sold by the Company to Lincoln Park at the Company’s discretion from time-to-time over a 30-month period commencing after the satisfaction of certain conditions set forth in the Equity Line Agreement, subject to the continued effectiveness of a registration statement covering such shares of Common Stock sold to Lincoln Park by the Company. The registration statement was filed with the SEC on December 31, 2019 and was declared effective on January 14, 2020. There is approximately $14.0 million of availability left for issuance pursuant to the Equity Line Agreement. The Company issued an aggregate of 0, and 1,495,199shares of Common Stock, during the six months ended June 30, 2021 and 2020, respectively, in connection with the Equity Line Agreement, resulting in net proceeds to the Company of approximately $0, and $988,000, respectively. At The Market Agreement with H.C. Wainwright On May 26, 2021, the Company entered into an At The Market Offering Agreement (the “ ATM Agreement Wainwright Common Stock Issuances 2021 Issuances During the three months ended June 30, 2021, the Company issued an aggregate of 195,000 shares of its Common Stock to consultants with a grant date fair value of approximately $147,000 for investor relations services provided, which was recorded as stock-based compensation and included as part of general and administrative expense. During the three months ended June 30, 2021, the Company issued an aggregate of 5,639,153 shares of Common Stock upon the conversion of an aggregate of 5,639.15 shares of Series C Preferred Stock with a stated value of approximately $4.1 million plus accrued dividends of approximately $122,000. During the three months ended June 30, 2021, the Company issued an aggregate of 328,375 shares of Common Stock upon the exercise of an aggregate of 328,375 investor warrants (See Note 12). During the six months ended June 30, 2021, the Company issued an aggregate of 770,301 shares of its Common Stock to consultants with a grant date fair value of approximately $1.1 million for investor relations services provided, which was recorded as stock-based compensation and included as part of general and administrative expense. During the six months ended June 30, 2021, the Company issued an aggregate 75,000 shares of its Common Stock with a grant date fair value of approximately $94,000 in connection with the settlement with the Company’s former investment bank, which was recorded as stock-based compensation and included as part of general and administrative expense. During the six months ended June 30, 2021, the Company issued an aggregate of 31,254,595 shares of Common Stock upon the conversion of an aggregate of 33,097.10 shares of Series C Preferred Stock with a stated value of approximately $24.7 million plus accrued dividends of approximately $198,000. During the six months ended June 30, 2021, the Company issued an aggregate of 9,456,443 shares of Common Stock upon the exercise of an aggregate of 9,526,209 investor warrants, including an aggregate of 3,991,882 pre-funded warrants (See Note 12). During the six months ended June 30, 2021, the Company issued an aggregate of 2,582,782 shares of Common Stock upon the conversion of an aggregate of 258.08 shares of Series B Preferred Stock with a stated value of approximately $2.0 million plus accrued dividends of approximately $3,000. During the six months ended June 30, 2021, the Company issued an aggregate of 5,800,000 shares of Common Stock in connection with the March 2021 Offering as detailed below. 2020 Issuances During the three months ended June 30, 2020, the Company did not issue any shares of its Common Stock to consultants or outside Board members. During the six months ended June 30, 2020, the Company issued an aggregate of 101,195 shares of its Common Stock to consultants with a total grant date fair value of approximately $87,000 for services provided, that was recorded was recorded as stock-based compensation, included as part of general and administrative expense. During the six months ended June 30, 2020, the Company issued an aggregate of 105,937 shares of its Common Stock to outside Board members as payment of Board fees with an aggregate grant date fair value of approximately $131,000 that was recorded as stock-based compensation, included as part of general and administrative expense. The aggregate effective settlement price was $1.24 per share, and each individual stock issuance was based on the closing stock price of the Common Stock on the initial date the payable was accrued. Restricted Stock and Restricted Stock Units Restricted stock refers to shares of Common Stock subject to vesting based on certain service, performance, and market conditions. Restricted stock unit awards refer to an award under the 2014 Plan or 2020 Plan, which constitutes a promise to grant shares of Common Stock at the end of a specified restriction period. During the three and six months ended June 30, 2021, there was no vesting of restricted shares of Common Stock or RSUs. During the three months ended June 30, 2020, an aggregate of 2,917 unvested restricted shares of Common Stock, subject to service conditions, vested with a total grant date fair value of approximately $10,500 and was recorded as stock-based compensation, included as part of general and administrative expense. During the six months ended June 30, 2020, an aggregate of 8,334 unvested restricted shares of Common Stock, subject to service conditions, vested with a total grant date fair value of approximately $30,008 and was recorded as stock-based compensation, included as part of general and administrative expense. As of June 30, 2021, the Company had unrecognized restricted common stock expense of approximately $394,000. Approximately $197,000 of this unrecognized expense vests upon the first commercial sale in the United States of MS1819 and approximately $197,000 of this unrecognized expense vests upon the total market capitalization of the Company exceeding $1.0 billion for 20 consecutive trading days. These milestones were not considered probable on June 30, 2021. As of June 30, 2020, the Company had unrecognized restricted common stock expense of approximately $400,000. Approximately $6,000 of this unrecognized expense will be recognized over the average remaining vesting term of 0.15 years. Approximately $197,000 of this unrecognized expense vests upon the first commercial sale in the United States of MS1819 and approximately $197,000 of this unrecognized expense vests upon the total market capitalization of the Company exceeding $1.0 billion for 20 consecutive trading days. These milestones were not considered probable at June 30, 2020. The Series B Private Placement and the Exchange On July 16, 2020 (the “ Series B Closing Date Series B Private Placement Series B Purchase Agreement Series B Investors Series B Preferred Stock Series B Warrants In connection with the Series B Private Placement, an aggregate of approximately 1,975.58 shares of Series B Preferred Stock initially convertible into 19,755,748 shares of Common Stock and related 9,877,835 Series B Warrants were issued for cash consideration, resulting in aggregate gross proceeds of approximately $15.2 million and aggregate net proceeds to the Company of approximately $13.2 million after deducting placement agent compensation and offering expenses. An aggregate of approximately 937.00 shares of Series B Preferred Stock initially convertible into 9,370,008 shares of Common Stock and related Series B Warrants to purchase 4,684,991 shares of Common Stock were issued to certain Series B Investors (the “ Exchange Investors Promissory Notes Exchange Exchange Addendum Exchange Warrants Pursuant to the Series B Private Placement and the Series B Purchase Agreement, for purposes of complying with Nasdaq Listing Rule 5635(c) and 5635(d), the Company was required to hold a meeting of its stockholders not later than 60 days following the Series B Closing Date to seek approval (the “ 2020 Stockholder Approval The Company prepaid the remaining outstanding balance of $25,000 aggregate principal amount of Promissory Notes, together with accrued and unpaid interest thereon through the prepayment date of approximately $1,000, held by those holders who did not participate in the Exchange. Following these transactions, no Promissory Notes remain outstanding. January 2021 Offerings On December 31, 2020, the Company entered into a securities purchase agreement (the “ Series C Purchase Agreement January 2021 Registered Direct Offering Concurrently with the Registered Direct Offering, in a private placement offering pursuant to the Series C Purchase Agreement (the “ January 2021 Private Placement, January 2021 Offerings January 2021 Investor Warrants In connection with the January 2021 Private Placement, we entered into a registration rights agreement, dated as of December 31, 2020, pursuant to which we filed a registration statement on Form S-1 (File No. 333-252087) to register the shares of Common Stock issuable upon the conversion of the Series C Preferred Stock sold in the January 2021 Private Placement and the exercise of the January 2021 Investor Warrants. The registration statement was declared effective by the SEC on January 21, 2021. On January 6, 2021, the January 2021 Offerings closed, and the Company received aggregate gross proceeds of approximately $8.0 million, excluding the net proceeds. The net proceeds to the Company from the January 2021 Offerings, after deducting the placement agent’s fees and expenses, was approximately $7.1 million. The Company used the net proceeds to fund the payment of cash consideration to First Wave under the First Wave License Agreement, and for other general corporate purposes. The Company paid the placement agent a cash fee equal to 8.0% and a management fee equal to 1.0% of the aggregate gross proceeds received by the Company in the January 2021 Offerings, or approximately $700,000. The Company also agreed to issue to the placement agent or its designees warrants (the “ January 2021 Placement Agent Warrants Pursuant to the January 2021 Private Placement and the Series C Purchase Agreement, the Company was required to hold a meeting of its stockholders not later than March 31, 2021 to seek approval (the “ 2021 Stockholder Approval On February 24, 2021, the Company received the 2021 Stockholder Approval, and all outstanding shares of Series C Preferred Stock were converted to Common Stock. Accounting for the January 2021 Offerings Upon receiving the 2021 Stockholder Approval on February 24, 2021, the Company classified the Series C Preferred Stock as permanent equity because no features provide for redemption by the holders of the Series C Preferred Stock or conditional redemption, which is not solely within the Company’s control, and there are no unconditional obligations in that (1) the Company must or may settle in a variable number of its equity shares and (2) the monetary value is predominantly fixed, varying with something other than the fair value of the Company’s equity shares or varying inversely in relation to the Company’s equity shares. Because the Series C Preferred Stock contains certain embedded features that could affect the ultimate settlement of the Series C Preferred Stock, the Company analyzed the instrument for embedded derivatives that require bifurcation. The Company’s analysis began with determining whether the Series C Preferred Stock is more akin to equity or debt. The Company evaluated the following criteria/features in this determination: redemption, voting rights, collateral requirements, covenant provisions, creditor and liquidation rights, dividends, and conversion rights. The Company determined that the Series C Preferred Stock was more akin to equity than to debt when evaluating the economic characteristics and risks of the entire Series C Preferred Stock, including the embedded features. The Company then evaluated the embedded features to determine whether their economic characteristics and risks were clearly and closely related to the economic characteristics and risks of the Series C Preferred Stock. Since the Series C Preferred Stock was determined to be more akin to equity than debt, and the underlying that causes the value of the embedded features to fluctuate would be the value of the Company’s common stock, the embedded features were considered clearly and closely related to the Series C Preferred Stock. As a result, the embedded features would not need to be bifurcated from the Series C Preferred Stock. The Company concluded the freestanding January 2021 Investor Warrants did not contain any provision that would require liability classification and therefore should be classified in stockholder’s equity, based on their relative fair value. The proceeds from the January 2021 Offerings were allocated to the Series C Preferred Stock and the January 2021 Investor Warrants based on their relative fair values. The total proceeds of approximately $7.1 million, net of $0.9 million offering costs, were allocated as follows: approximately $4.6 million to the Series C Preferred Stock and approximately $3.4 million to the January 2021 Investor Warrants. After allocation of the proceeds, the effective conversion price of the Series C Preferred Stock was determined to be beneficial and, as a result, the Company recorded a deemed dividend of approximately $4.3 million equal to the intrinsic value of the beneficial conversion feature and recognized on the closing date and recorded as a reduction of income available to common stockholders in computing basic and diluted loss per share. The total offering costs of approximately $0.9 million were recognized in equity. Series B Most Favored Nations (MFN) Exchanges into the January 2021 Offerings Subject to the consummating the January 2021 Offerings, the holders of the Series B Preferred Stock became entitled to exercise their Series B Exchange Right to exchange their Series B Preferred Stock at the Series B Exchange Amount into the Series C Preferred Stock and related January 2021 Investor Warrants. During the three months ended June 30, 2021, holders of approximately 533.47 shares of Series B Preferred Stock with an aggregate Exchange Amount of approximately $4.2 million had elected to exercise their Series B Exchange Rights into 5,639.15 shares of Series C Preferred Stock, convertible into an aggregate of 5,639,153 shares of Common Stock and additional January 2021 Investor Warrants exercisable for up to an aggregate of 5,639,153 shares of Common Stock. Immediately upon issuance of the Series C Preferred Stock pursuant to the Series B Exchange Right, all shares of Series C Preferred Stock were converted into 5,639,153 shares of Common Stock. During the six months ended June 30, 2021, holders of approximately 1,839.76 shares of Series B Preferred Stock with an aggregate Exchange Amount of approximately $14.4 million had elected to exercise their Series B Exchange Rights into 19,140.14 shares of Series C Preferred Stock, convertible into an aggregate of 19,140,240 shares of Common Stock and additional January 2021 Investor Warrants exercisable for up to an aggregate of 19,140,240 shares of Common Stock. Immediately upon issuance of the Series C Preferred Stock pursuant to the Series B Exchange Right prior to February 24, 2021, an aggregate of 13,166.62 shares of Series C Preferred Stock were converted into 13,166,624 shares of Common Stock, at an effective conversion price of $0.77 per share, and an aggregate of 334.46 shares of Series C Preferred Stock, convertible into 334,463 shares of Common Stock, remained unconverted pending stockholder approval. Upon receiving the 2021 Stockholder Approval on February 24, 2021, the Company elected to convert all 334.46 remaining shares of Series C Preferred Stock issued pursuant to the Series B Exchange Right, plus accrued dividends thereon of approximately $2,000 into 336,994 shares of Common Stock. As a result, as of June 30, 2021, the Company may be required to issue up to 7,248.85 additional shares of Series C Preferred Stock that are currently convertible up to 7,248,846 underlying shares of Common Stock, together with January 2021 Investor Warrants to purchase up to an additional 7,248,846 shares of Common Stock, to any holders of Series B Preferred Stock who elect to exercise their Series B Exchange Right into the January 2021 Offerings. Any shares of Series C Preferred Stock to be issued pursuant to the Series B Exchange Right would, upon issuance, be immediately converted into underlying shares of Common Stock. Accounting for the Series B Exchanges into the January 2021 Offerings During the three months ended June 30, 2021, pursuant to the Series B Exchange Right, the Company issued an aggregate of 5,639.15 shares of Series C Preferred Stock and warrants to purchase an aggregate of 5,639,153 shares of Common Stock in connection with the exchange of approximately 533.47 shares of Series B Preferred Stock. The Company analyzed the exchanges pursuant to the Series B Exchange Right from preferred stock to preferred stock qualitatively and determined that the exchanges result in a substantive change and should be accounted for as an extinguishment. As such, for the three months ended June 30, 2021, the Company recognized an aggregate deemed dividend of approximately $3.4 million as calculated by the difference in the carrying value of the Series B Preferred Stock exchanged and the fair value of the Series C Preferred Stock and January 2021 Investor Warrants issued on each exchange date. During the six months ended June 30, 2021, pursuant to the Series B Exchange Right, the Company issued an aggregate of 19,140.14 shares of Series C Preferred Stock and warrants to purchase an aggregate of 19,140,140 shares of Common Stock in connection with the exchange of approximately 1,839.76 shares of Series B Preferred Stock. The exercise of all of these warrants and the conversion of a portion of these shares of Series C Preferred Stock were prohibited until the Company received stockholder approval on February 24, 2021. The Company analyzed the exchanges pursuant to the Series B Exchange Right from preferred stock to preferred stock qualitatively and determined that the exchanges result in a substantive change and should be accounted for as an extinguishment. As such, for the six months ended June 30, 2021, the Company recognized an aggregate deemed dividend of approximately $21.0 million as calculated by the difference in the carrying value of the Series B Preferred Stock exchanged and the fair value of the Series C Preferred Stock and January 2021 Investor Warrants issued on each exchange date. March 2021 Offering On March 7, 2021, the Company entered into a securities purchase agreement (the “ March 2021 Purchase Agreement March 2021 Offering March 2021 Pre-Funded Warrants March 2021 Warrants On March 10, 2021, the March 2021 Offering closed and the Company received aggregate gross proceeds of approximately $10.0 million, excluding the net proceeds, if any, from the exercise of the March 2021 Warrants. The net proceeds to the Company from the March 2021 Offering were approximately $9.1 million, after deducting the placement agent’s fees and expenses. The Company paid the placement agent a cash fee equal to 8.0% of the aggregate gross proceeds received by the Company, or approximately $800,000. The Company also agreed to issue the placement agent or its designees warrants (the “ March 2021 Placement Agent Warrants The March 2021 Offering was made pursuant to the Company’s effective shelf registration statement on Form S-3 (Registration No. 333-231954) originally filed with the SEC on June 21, 2019, and declared effective on June 25, 2019. The Company filed a prospectus supplement with the SEC in connection with the sale of such securities in the March 2021 Offering. The Company concluded the freestanding March 2021 Warrants and the March 2021 Placement Agent Warrants did not contain any provisions that would require liability classification and therefore should be classified in stockholder’s equity.

Warrants

Warrants	6 Months Ended
	Jun. 30, 2021
Accounts Payable and Accrued Expenses
Note 12 - Warrants	Note 12 - Warrants During the three months ended June 30, 2021, the Company issued January 2021 Investor Warrants to purchase an aggregate of 5,639,153 shares of Common Stock to holders of Series B Preferred Stock elected to exercise their Series B Exchange Rights into Series C Preferred Stock and related warrants, as referenced in Note 11. These January 2021 Investor Warrants were issued between April 1, 2021 and June 9, 2021, are exercisable at $0.80 per share and expire on July 6, 2026. The total grant date fair value of these warrants was determined to be approximately $3.4 million, as calculated using the Black-Scholes model, and were recorded as a deemed dividend and recognized on the exchange date and recorded as a reduction of income available to common stockholders in computing basic and diluted loss per share. During the six months ended June 30, 2021, in connection with the January 2021 Offerings, the Company issued January 2021 Investor Warrants to the investor to purchase an aggregate of 10,666,668 shares of Common Stock, as referenced in Note 11. These January 2021 Investor Warrants were issued on January 6, 2021, are exercisable at $0.80 per share and expire on July 6, 2026. The exercise of the January 2021 Investor Warrants was prohibited until the Company received stockholder approval on February 24, 2021. The total grant date fair value of these warrants was determined to be approximately $6.0 million, as calculated using the Black-Scholes model, and were recorded as additional paid in capital based on their relative fair value of approximately $3.4 million (See Note 11). During the six months ended June 30, 2021, in connection with the conversion of the Series C Preferred Stock issued in the January 2021 Offerings, the Company issued pre-funded warrants to the investor to purchase an aggregate of 1,933,334 shares of Common Stock as referenced in Note 11. These pre-funded warrants were issued on January 6, 2021, are exercisable at $0.001 per share and do not expire. The total grant date fair value of these pre-funded was determined to be approximately $1.6 million and was recorded as additional paid in capital (See Note 11). During the six months ended June 30, 2021, in connection with the January 2021 Offerings, the Company issued January 2021 Placement Agent Warrants to the placement agent and/or their designees to purchase an aggregate of 746,667 shares of Common Stock, as referenced in Note 11. These January 2021 Placement Agent Warrants were issued on January 6, 2021, are exercisable at $0.9375 per share and expire on July 6, 2026. The total grant date fair value of these warrants was determined to be approximately $392,000, as calculated using the Black-Scholes model, and had no effect on shareholders’ equity (See Note 11). During the six months ended June 30, 2021, the Company issued January 2021 Investor Warrants to purchase an aggregate of 19,140,240 shares of Common Stock to holders of Series B Preferred Stock elected to exercise their Series B Exchange Rights into Series C Preferred Stock and related warrants, as referenced in Note 11. These January 2021 Investor Warrants were issued between January 13, 2021 and June 9, 2021, are exercisable at $0.80 per share and expire on July 6, 2026. The exercise of 13,501,087 of these warrants was prohibited until the Company received stockholder approval on February 24, 2021. The total grant date fair value of these warrants was determined to be approximately $21.0 million, as calculated using the Black-Scholes model, and were recorded as a deemed dividend and recognized on the exchange date and recorded as a reduction of income available to common stockholders in computing basic and diluted loss per share. During the six months ended June 30, 2021, in connection with the March 2021 Offering, the Company issued March 2021 Warrants to the investor to purchase an aggregate of3,929,274 shares of Common Stock, as referenced in Note 11. These March 2021 Warrants were issued on March 10, 2021, are exercisable at $1.21 per share and expire five years from the date of issuance. The total grant date fair value of these warrants was determined to be approximately $3.5 million, as calculated using the Black-Scholes model, and were recorded as additional paid in capital (See Note 11). During the six months ended June 30, 2021, in connection with March 2021 Offering, the Company issued pre-funded warrants to the investor to purchase an aggregate of 2,058,548 shares of Common Stock, as referenced in Note 11. These pre-funded warrants were issued on March 10, 2021, are exercisable at $0.01 per share and do not expire. The total grant date fair value of these pre-funded was determined to be approximately $2.6 million and was recorded as additional paid in capital (See Note 11). During the six months ended June 30, 2021, in connection with the March 2021 Offering, the Company issued March 2021 Placement Agent Warrants to the placement agent and/or their designees to purchase an aggregate of 550,099 shares of Common Stock, as referenced in Note 11. These March 2021 Placement Agent Warrants were issued on March 10, 2021, are exercisable at $1.5906 per share and expire five years from the date of issuance. The total grant date fair value of these warrants was determined to be approximately $453,000, as calculated using the Black-Scholes model, and had no effect on shareholders’ equity (See Note 11). During the six months ended June 30, 2021, the Company issued warrants to a consultant to purchase an aggregate of 200,000 shares of Common Stock that are subject to service-based milestone vesting conditions for investor relations services. These warrants were issued on February 8, 2021, are exercisable at $1.69 per share and expire four years from the date of issuance. The total grant date fair value of these warrants was determined to be approximately $214,000, as calculated using the Black-Scholes model. For the three months ended June 30, 2021, warrants to purchase a total of 150,000 shares of Common Stock vested, with a grant date fair value of approximately $161,000, which was recorded as stock-based compensation and was included as part of general and administrative expense. For the six months ended June 30, 2021, warrants to purchase a total of 200,000 shares of Common Stock vested, with a grant date fair value of approximately $214,000, which was recorded as stock-based compensation and was included as part of general and administrative expense. During the three months ended June 30, 2021, warrants to purchase an aggregate of 328,375 shares of Common Stock were exercised for cash proceeds of approximately $264,000. During the six months ended June 30, 2021, warrants to purchase an aggregate of 9,526,209 shares of Common Stock, including the pre-funded warrants issued in January 2021 and March 2021, were exercised for 9,456,443 shares of Common Stock resulting in cash proceeds of approximately $4.9 million. During the six months ended June 30, 2020, in connection with the January 2020 closings of the Promissory Note Offering, the Company issued Note Warrants to investors to purchase an aggregate of 1,813,257 shares of Common Stock with the issuance of the Promissory Notes as referenced in Note 9. These Note Warrants were issued between January 2, 2020 and January 9, 2020, and became exercisable commencing six (6) months following the issuance date at $1.07per share and expire five years from issuance. The total grant date fair value of these warrants was determined to be approximately $1.6 million, as calculated using the Black-Scholes model, and were recorded as a debt discount based on their relative fair value. During the six months ended June 30, 2020, in connection with the January 2020 closings of the Promissory Note Offering, the Company issued placement agent warrants to purchase an aggregate of 199,732 shares of Common Stock. These placement agent warrants were issued between January 2, 2020 and January 9, 2020, vested immediately, and expire five years from issuance. 41,495 of these Placement Agent Warrants are exercisable at $1.21 per share and 158,237 are exercisable at $1.42 per share. The total grant date fair value of these placement agent warrants was determined to be approximately $174,000, as calculated using the Black-Scholes model, and was charged to debt discount that will be amortized over the life of the debt. Warrant transactions for the six months ended June 30, 2021 and 2020 were as follows: Exercise Weighted Price Per Average Warrants Share Price Warrants outstanding and exercisable on January 1, 2020 5,378,288 $ 1.07- 7.37 $ 2.53 Granted during the period 2,012,989 1.07- 1.42 $ 1.10 Expired during the period (30,096 ) 4.76 - 7.37 $ 4.92 Exercised during the period - - - Warrants outstanding and exercisable on June 30, 2020 7,361,181 $ 1.07- 7.37 $ 2.13 Warrants outstanding and exercisable on January 1, 2021 25,179,192 $ 0.85- 7.37 $ 1.22 Granted during the period 39,224,830 $ 0.001-1.69 $ 0.78 Expired during the period (321,193 ) - - Exercised during the period (9,526,209 ) - - Warrants outstanding and exercisable on June 30, 2021 54,556,620 $ 0.80– 6.60 $ 1.02 Warrants exercisable on June 30, 2021, were as follows: Exercise Price Number of Shares Under Warrants Weighted Average Remaining Contract Life in Years Weighted Average Exercise Price $ 0.00 - 0.99 44,098,268 4.64 $ 1.00 - 1.99 8,407,884 3.88 $ 2.00 - 2.99 320,063 2.07 $ 3.00 - 3.99 611,683 0.86 $ 4.00 - 4.99 164,256 0.78 $ 5.00 - 5.99 766,716 0.70 $ 6.00 - 6.99 187,750 0.26 Totals 54,556,620 4.38 $ 1.02 The weighted average fair value of warrants granted during the six months ended June 30, 2021, and 2020, was $0.90 and $1.10 per share, respectively. The grant date fair values were calculated using the Black-Scholes model with the following weighted average assumptions: June 30, 2021 Expected life (in years) 4.38 Volatility 83.8- 90.8 % Risk-free interest rate 0.36- 0.90 % Dividend yield - %

Stock Options

Stock Options	6 Months Ended
	Jun. 30, 2021
Stock Options
Note 13 - Stock Options	Note 13 - Stock Options Under the 2014 Plan and the 2020 Plan, the fair value of options granted is estimated on the grant date using the Black-Scholes option valuation model. This valuation model for stock-based compensation expense requires the Company to make assumptions and judgments about the variables used in the calculation, including the expected term (weighted-average period of time that the options granted are expected to be outstanding), the volatility of the common stock price and the assumed risk-free interest rate. The Company recognizes stock-based compensation expense for only those shares expected to vest over the requisite service period of the award. No compensation cost is recorded for options that do not vest and the compensation cost from vested options, whether forfeited or not, is not reversed. On June 30, 2021, the Board rescinded and cancelled certain stock option awards previously made under the 2014 Plan (the “ Prior Awards New Awards The terms of the New Awards to Mr. Sapirstein (the “ New Sapirstein Awards The terms of the New Awards to Mr. Schneiderman (the “ New Schneiderman Awards During the three months ended June 30, 2021, the Company issued stock options under the 2020 Plan to new employees to purchase an aggregate of 36,000 shares of Common Stock with a strike price of $0.78 per share and a term of ten years that vest in equal monthly installments over three years. These options had a total fair value of approximately $24,000, as calculated using the Black-Scholes model. During the three months ended June 30, 2021, excluding the Prior Awards described above, stock options to purchase an aggregate of 19,264 shares of Common Stock under the 2014 Plan were cancelled with strike prices ranging between $0.85 and $3.60 per share. During the six months ended June 30, 2021, the Company issued stock options under the 2020 Plan to new employees to purchase an aggregate of 379,685 shares of Common Stock with strike prices ranging from $0.78 to $1.54 per share and a term of ten years that vest in equal monthly installments over three years. These options had a total fair value of approximately $300,000, as calculated using the Black-Scholes model. During the six months ended June 30, 2021, excluding the Prior Awards described above, stock options to purchase an aggregate of 154,778 shares of Common Stock under the 2014 Plan were cancelled with strike prices ranging between $0.85 and $3.60 per share. During the six months ended June 30, 2021, stock options to purchase an aggregate of 416,142 shares of Common Stock, subject to service-based milestone vesting conditions, vested with a total grant date fair value of approximately 305,000 which was recorded as stock-based compensation, of which approximately $245,000 was included as part of general and administrative expense and approximately $60,000 was included as part of research and development expense. During the six months ended June 30, 2021, stock options to purchase an aggregate of 755,000 shares of Common Stock, subject to performance-based milestone vesting conditions, vested due to the Company achieving certain clinical milestones, with a total grant date fair value of approximately $623,000 which was recorded as stock-based compensation, of which approximately $253,000 was included as part of general and administrative expense and approximately $370,000 was included as part of research and development expense. Stock options to purchase an aggregate of 437,500 shares of Common Stock, with a total grant date fair value of approximately $427,000, vested due to the Company completing enrollment of the Phase 2 OPTION 2 clinical trial. Stock options to purchase an aggregate of 210,000 shares of Common Stock, with a total grant date fair value of approximately $148,000, vested due to the Company’s public announcement of topline data for the Phase 2 OPTION 2 clinical trial. Stock options to purchase an aggregate of 7,500 shares of Common Stock, with a total grant date fair value of approximately $8,000, vested due to the Company completing enrollment of the Phase 2 Combination Trial in Europe. Stock options to purchase an aggregate of 100,000 shares of Common Stock, with a total grant date fair value of approximately $40,000, vested due to the Company determining that initiating a U.S. Phase 1 clinical trial for any product other than MS1819 became probable in connection with the initiation of the COVID-19 niclosamide trial. During the six months ended June 30, 2020, stock options to purchase an aggregate of 200,000 shares of Common Stock were cancelled with strike prices ranging between $0.97 and $3.60 per share. During the six months ended June 30, 2020, stock options to purchase an aggregate of 315,834 shares of Common Stock, subject to service conditions, vested with a total grant date fair value of approximately $200,977 and were recorded as stock-based compensation, and included as part of general and administrative expense. During the three and six months ended June 30, 2020, stock options to purchase an aggregate of 50,000 shares of Common Stock, subject to performance conditions vesting, vested with a total grant date fair value of approximately $20,150 and were recorded as stock-based compensation, and included as part of general and administrative expense due to the Company determining the probability of initiating the Option 2 Clinical Trial was greater than 75% at June 30, 2020. The fair values were estimated on the grant dates using the Black-Scholes option-pricing model with the following weighted-average assumptions: June 30, 2021 Contractual term (in years) 10 Volatility 83.8 - 90.6 % Risk-free interest rate 0.93 - 1.69 % Dividend yield - % The expected term of the options is based on expected future employee exercise behavior. Volatility is based on the historical volatility of the Company’s Common Stock if available or of several public entities that are similar to the Company. The Company bases volatility this way because it may not have sufficient historical transactions in its own shares on which to solely base expected volatility. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected term at the grant date. The Company has not historically declared any dividends and does not expect to in the future. During the six months ended June 30, 2021 and 2020, stock option activity under the 2014 Plan and 2020 Plan was as follows: Average Remaining Number Exercise Contract Intrinsic of Shares Price Life (Years) Value Stock options outstanding on January 1, 2020 1,677,500 $ 2.17 5.37 $ - Granted during the period 795,006 $ 1.00 10.00 - Canceled during the period (200,000 ) $ 2.10 3.28 - Stock options outstanding on June 30, 2020 2,272,506 $ 1.86 6.52 $ - Exercisable on June 30, 2020 1,084,834 $ 2.59 5.6 $ - Non-vested stock options outstanding on January 1, 2020 883,500 $ 1.33 6.26 $ - Granted during the period 795,006 $ 1.03 10.00 - Vested during the period (365,834 ) $ 2.59 6.88 - Canceled during the period (125,000 ) $ 2.10 2.82 - Non-vested stock options outstanding on June 30, 2020 1,187,672 $ 1.24 7.06 $ - Average Remaining Number Exercise Contract Intrinsic of Shares Price Life (Years) Value Stock options outstanding on January 1, 2021 4,070,284 $ 1.38 7.94 $ - Granted during the period 1,564,691 $ 0.88 10.00 - Canceled during the period (1,339,784 ) $ 1.05 2.87 - Stock options outstanding on June 30, 2021 4,295,191 $ 1.18 7.72 $ 79,440 Exercisable on June 30, 2021 2,413,727 $ 1.41 6.70 $ 52,120 Non-vested stock options outstanding on January 1, 2021 2,740,657 $ 0.99 8.42 - Granted during the period 1,564,691 $ 0.88 10.00 - Vested during the period (1,468,504 ) $ - - - Canceled during the period (955,380 ) $ - - - Non-vested stock options outstanding on June 30, 2021 1,881,464 $ 0.87 9.04 $ - As of June 30, 2021, the Company had unrecognized stock-based compensation expense of approximately $1.1 million. Approximately $0.8 million of this unrecognized expense will be recognized over the average remaining vesting term of the stock options of 1.93 years. Approximately $40,000 of this unrecognized expense will vest upon initiating a Phase 3 clinical trial in the U.S. for MS1819. Approximately, $140,000 of this unrecognized expense will vest upon the public release of topline data of the complete Combination Trial results. Approximately, $140,000 of this unrecognized expense will vest upon signing of a definitive term sheet with Board approval for either (i) a strategic licensing, distribution, or commercialization agreement for MS1819 with a bona fide partner, or (ii) the substantial sale of the Company or the MS1819 asset, on or before December 31, 2021. The Company will recognize the expense related to these milestones when the milestones become probable. As of June 30, 2020, the Company had unrecognized stock-based compensation expense of approximately $0.9 million. Approximately $327,000 of this unrecognized expense will be recognized over the average remaining vesting term of the options of 9.62 years. Approximately $440,000 of this unrecognized expense will vest upon enrollment completion of the next MS1819 Phase II clinical trial in the U.S. for CF (the OPTION 2 Trial). Approximately $41,000 of this unrecognized expense will vest upon enrollment completion of the ongoing Combination Trial in Europe. Approximately $20,000 of this unrecognized expense will vest upon trial completion of the next MS1819 Phase II clinical trial in the U.S. for CF (the OPTION 2 Trial). Approximately $40,000 of this unrecognized expense vests upon the Company initiating a Phase III clinical trial in the U.S. for MS1819. Approximately $40,000 of this unrecognized expense vests upon initiating a U.S. Phase I clinical trial for any product other than MS1819. The Company will recognize the expense related to these milestones when the milestones become probable.

Agreements

Agreements	6 Months Ended
	Jun. 30, 2021
Agreements
Note 14 - Agreements	Note 14 - Agreements License Agreement with First Wave Bio, Inc. On December 31, 2020, we entered into the First Wave License Agreement, pursuant to which First Wave granted us a worldwide, exclusive right to develop, manufacture, and commercialize First Wave’s proprietary immediate release and enema formulations of niclosamide (the “ Niclosamide Product In consideration of the license and other rights granted by First Wave, we agreed to pay First Wave a $9.0 million upfront cash payment due within 10 days, which was paid in January 2021 and are obligated to make an additional payment of $1.25 million due on June 30, 2021. In addition, we are obligated to pay potential milestone payments to First Wave totaling up to $37.0 million for each indication, based upon the achievement of specified development and regulatory milestones. As of June 30, 2021, the Company achieved a milestone related to clinical development of niclosamide in the COVID-19 field and has expensed $1.0 million in research and development and accrued $1.0 million in accounts payable. Under the First Wave License Agreement we are obligated to pay First Wave royalties as a mid-single digit percentage of net sales of the Niclosamide Product, subject to specified reductions. We were also obligated to issue to First Wave junior convertible preferred stock, initially convertible into $3.0 million worth of Common Stock based upon the volume weighted average price of the Common Stock for the five-day period immediately preceding the date of the First Wave License Agreement, or $0.9118 per share, convertible into an aggregate of 3,290,196 shares of Common Stock. As of December 31, 2020, this was initially classified as a liability in the consolidated balance sheet because of certain NASDAQ restrictions and the requirement to obtain stockholder approval. On January 8, 2021, in connection with the securities purchase agreement with First Wave (the “ First Wave Purchase Agreement The conversion price of the Series C Preferred Stock was determined to be beneficial and, as a result, the Company recorded a deemed dividend of approximately $230,000 equal to the intrinsic value of the beneficial conversion feature and recognized on the issuance date and recorded as a reduction of income available to common stockholders in computing basic and diluted loss per share. Upon the 2021 Stockholder Approval on February 24, 2021, the Company recognized a change in fair value of approximately $0.5 million based on the difference in fair value of the $3.0 million liability initially recorded pursuant to the First Wave License Agreement as of December 31, 2020 and the fair value of approximately $2.5 million of Series C Preferred Stock issued pursuant to the First Wave Purchase Agreement to settle the liability. Following the 2021 Stockholder Approval, the shares of Series C Preferred Stock were automatically converted into Common Stock. The Company is solely responsible, and has agreed to use commercially reasonable efforts, for all development, regulatory and commercial activities related to the Niclosamide Products in the ICI-AC and COVID-19 fields. The Company may sublicense its rights under the First Wave License Agreement and, if it does so, will be obligated to pay milestone payments and royalties to First Wave based on the sublicensee’s development and commercialization of the licensed Niclosamide Products. Pursuant to the First Wave License Agreement, First Wave retains rights to develop and commercialize the licensed niclosamide formulations outside the ICI-AC and COVID-19 fields, and to develop and commercialize other niclosamide formulations that are not licensed to Company. Pursuant to the First Wave License Agreement, the Company grants First Wave a worldwide, non-exclusive, royalty-free, perpetual, irrevocable license for use outside the ICI-AC and COVID-19 fields, with the right to grant sublicenses, under any Program IP and other intellectual property owned by the Company and incorporated into the Niclosamide Product. The First Wave License Agreement terminates on a country-by-country basis and product-by-product basis upon the expiration of the royalty term for such product in such country. Each royalty term begins on the date of the first commercial sale of the licensed product in the applicable country and ends on date of expiration of the last to expire royalty term with respect to the country. The First Wave License Agreement may be terminated earlier in specified situations, including termination for uncured material breach of the First Wave License Agreement by either party, termination by the Company in specified circumstances, termination by First Wave in specified circumstances, termination by the Company for convenience with advance notice, and termination upon a party’s insolvency or bankruptcy. After expiration of the royalty term, the Company shall have a non-exclusive, fully-paid, perpetual, royalty-free right and irrevocable license with respect to any Product in any country within the territory. The First Wave License Agreement also contains customary representations, warranties, and covenants by both parties, as well as customary provisions relating to indemnification, confidentiality, and other matters. Mayoly Agreement In March 2019, the Company and Laboratories Mayoly Spinder (“ Mayoly Mayoly APA JDLA TransChem Sublicense In August 2017, the Company entered into a sublicense agreement with TransChem, pursuant to which TransChem granted the Company an exclusive license to patents and patent applications relating to Helicobacter pylori 5’methylthioadenosine nucleosidase inhibitors (the “TransChem Licensed Patents” “TransChem Sublicense Agreement”

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases
Note 15 - Leases	Note 15 - Leases The Company leases its offices and research facilities under operating leases which are subject to various rent provisions and escalation clauses. Effective June 1, 2021, the Company commenced a sixty-three-month lease agreement for its corporate headquarters located in approximately 3,472 square feet of office space at 777 Yamato Road, Suite 502, Boca Raton, FL 33431. The Company’s leases expire at various dates through 2026. The escalation clauses are indeterminable and considered not material and have been excluded from minimum future annual rental payments. Lease expense amounted to approximately $57,000 and $40,000, respectively, for the three months ended June 30, 2021, and 2020. Lease expense amounted to approximately $110,000 and $77,000, respectively, for the six months ended June 30, 2021, and 2020. The weighted-average remaining lease term and weighted-average discount rate under operating leases on June 30, 2021, are: June 30, 2021 Lease term and discount rate Weighted-average remaining lease term 4.5 years Weighted-average discount rate 6.86 % Approximately $118,000 of short-term lease liability is included in other current liabilities and approximately $286,000 of long-term lease liability is included in other liabilities (See Note 10). Maturities of operating lease liabilities on June 30, 2021, were as follows: 2021 $ 61,642 2022 104,629 2023 83,691 2024 86,202 2025 88,788 Thereafter 60,593 Total lease payments 485,545 Less imputed interest (81,306 ) Present value of lease liabilities $ 404,239

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Taxes
Note 16 - Income Taxes	Note 16 - Income Taxes The Company is subject to taxation at the federal level in both the United States and France and at the state level in the United States. On June 30, 2021, and December 31, 2020, the Company had no tax provision for either jurisdiction. On June 30, 2021, and December 31, 2020, the Company had gross deferred tax assets of approximately $27.3 million and $26.1 million, respectively. As the Company cannot determine that it is more likely than not that the Company will realize the benefit of the deferred tax asset, a valuation allowance of approximately $27.3 million and $26.1 million, respectively, has been established on June 30, 2021, and December 31, 2020. The change in the valuation allowance in the six months ended June 30, 2021 and 2020 was approximately $(1.2) million and $(0.4) million, respectively. On June 30, 2021, the Company has gross net operating loss (“ NOL Section 382 On June 30, 2021, and December 31, 2020, the Company had approximately $27.0 million and $23.0 million, respectively, in net operating losses which it can carryforward indefinitely to offset against future French income. On June 30, 2021, and December 31, 2020, the Company had taken no uncertain tax positions that would require disclosure under ASC 740, Accounting for Income Taxes

Net Loss per Common Share

Net Loss per Common Share	6 Months Ended
	Jun. 30, 2021
Net Loss per Common Share
Note 17 - Net Loss per Common Share	Note 17 - Net Loss per Common Share Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect, in periods in which they have a dilutive effect, the impact of common shares issuable upon exercise of stock options and warrants and conversion of convertible debt that are not deemed to be anti-dilutive. The dilutive effect of the outstanding stock options and warrants is computed using the treasury stock method. On June 30, 2021, diluted net loss per share did not include the effect of 7,060,539 shares of Common Stock issuable upon the conversion of Series B preferred stock, including accrued and unpaid dividends through June 30, 2021, 54,556,620 shares of Common Stock issuable upon the exercise of outstanding warrants, 112,000 shares of restricted stock not yet issued, 275,000 unearned shares of restricted stock and RSUs, and 4,295,191 shares of Common Stock issuable upon the exercise of outstanding options as their effect would be antidilutive during the periods prior to conversion. Also excluded from the diluted net loss per are the potentially dilutive effect of up to 188,307 shares of Common Stock and 7,248,846 shares of Common Stock issuable upon exercise of January 2021 Investor Warrants potentially issuable pursuant the Series B Exchange Right. At June 30, 2020, diluted net loss per share did not include the effect of 7,427,032 shares of Common Stock issuable upon the conversion of convertible debt, 7,361,181 shares of Common Stock issuable upon the exercise of outstanding warrants, 387,000 shares of Common Stock pursuant to unearned and unissued restricted stock and RSUs, and 2,272,506 shares of Common Stock issuable upon the exercise of outstanding options as their effect would be antidilutive during the periods prior to conversion.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2021
Employee Benefit Plans
Note 18 - Employee Benefit Plans	Note 18 - Employee Benefit Plans 401(k) Plan Since 2015, the Company has sponsored a multiple employer defined contribution benefit plan, which complies with Section 401(k) of the Internal Revenue Code covering substantially all employees of the Company. All employees are eligible to participate in the plan. Employees may contribute from 1% to 100% of their compensation and the Company matches an amount equal to 100% on the first 6% of the employee contribution and may also make discretionary profit-sharing contributions. Employer contributions under this 401(k) plan amounted to approximately $23,000 and $40,000 for the three months ended June 30, 2021 and 2020, respectively. Employer contributions under this 401(k) plan amounted to approximately $55,000 and $62,000 for the six months ended June 30, 2021 and 2020, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events
Note 19 - Subsequent Events	Note 19 – Subsequent Events July 2021 Offering On July 22, 2021, the Company entered into an underwriting agreement with Wainwright pursuant to which the Company agreed to sell, in an upsized firm commitment offering, 9,090,910 shares of Common Stock to Wainwright at an offering price to the public of $0.55 per share, less underwriting discounts and commissions. On July 27, 2021, pursuant to the terms of the underwriting agreement, Wainwright exercised its 30-day over-allotment option in full to purchase an additional 1,363,636 shares of Common Stock at the same offering price to the public, less underwriting discounts and commissions. The offering closed on July 27, 2021. The Company received net proceeds from the offering of approximately $5.1 million. The Company intends to use the net proceeds from the offering for milestone payments due under the Company’s license agreements and for other general corporate purposes. The Company paid Wainwright an underwriting discount equal to 8.0% of the gross proceeds of the offering, and reimbursed Wainwright for a non-accountable expense allowance of $35,000, $125,000 in legal fees and $15,950 for clearing expenses. Additionally, as partial compensation for Wainwright’s services as underwriter in the offering, the Company issued to Wainwright (or its designees) warrants to purchase 731,819 shares of Common Stock equal to 7.0% of the aggregate number of shares of Common Stock sold in the offering (the “ Wainwright Warrants Most Favored Nations (MFN) Exchange Right As of August 13, 2021, any holders of Series B Preferred Stock who elect to exercise their Series B Exchange Right in connection with up to 676.05 shares of Series B Preferred Stock plus accrued dividends of approximately $288,000 may require the Company to issue either: (i) up to 7,324,125 additional shares of Series C Preferred Stock that are currently convertible up to 7,324,125 underlying shares of Common Stock, together with January 2021 Investor Warrants to purchase up to an additional 7,324,125 shares of Common Stock, to any holders of Series B Preferred Stock who elect to exercise their Series B Exchange Right into the January 2021 Offerings, or (ii) up to 9,987,571 additional shares of Common Stock at a price of $0.55 per share, with no warrants, to any holders of Series B Preferred Stock who elect to exercise their Series B Exchange Right into the July 2021 Offering. Any shares of Series C Preferred Stock to be issued pursuant to the Series B Exchange Right into the January 2021 Offerings would, upon issuance, be immediately converted into underlying shares of Common Stock. Appointment of New Director On August 11, 2021, the Board approved, effective immediately, an increase in the size of the Board from six directors to seven directors and appointed Terry Coelho, age 60, to serve as a member of the Board to fill the newly-created vacancy. Ms. Coelho will hold this position until the next annual meeting of the Company’s stockholders or until her successor is elected and qualified, subject to her earlier resignation or removal. Ms. Coelho will also serve as a member of the Audit Committee and the Compensation Committee of the Board.

Significant Accounting Polici_2

Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2021
Significant Accounting Policies and Recent Accounting Pronouncements
Use of Estimates	The accompanying unaudited consolidated financial statements are prepared in conformity with GAAP and include certain 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 (including goodwill, intangible assets, and contingent consideration), and the reported amounts of revenue and expense during the reporting period, including contingencies. Accordingly, actual results may differ from those estimates.
Cash and Cash Equivalents	The Company considers all highly liquid investments with maturities of three months or less from date of purchase to be cash equivalents. All cash balances were highly liquid on June 30, 2021, and December 31, 2020, respectively.
Concentrations of Credit Risk	Financial instruments that potentially expose the Company to concentrations of credit risk consist of cash. The Company primarily maintains its cash balances with financial institutions in federally insured accounts in the U.S. The Company may from time to time have cash in banks in excess of FDIC insurance limits. On June 30, 2021, and December 31, 2020, the Company had approximately $3.8 million and $2.7 million, respectively, in one account in the U.S. in excess of these limits. The Company has not experienced any losses to date resulting from this practice. The Company mitigates its risk by maintaining the majority of its cash and equivalents with high quality financial institutions. The Company also has exposure to foreign currency risk as its subsidiary in France has a functional currency in Euros.
Debt Instruments	Detachable warrants issued in conjunction with debt are measured at their relative fair value, if they are determined to be equity instrument, or their fair value, if they are determined to be liability instruments, and recorded as a debt discount. Conversion features that are in the money at the commitment date constitute a beneficial conversion feature that is measured at its intrinsic value and recognized as debt discount. Debt discount is amortized as interest expense over the maturity period of the debt using the effective interest method. Contingent beneficial conversion features are recognized when the contingency has been resolved.
Debt Issuance Costs	Debt issuance costs are recorded as a direct reduction of the carrying amount of the related debt. Debt issuance costs are amortized over the maturity period of the related debt instrument using the effective interest method.
Equity-Based Payments to Non-Employees	Equity-based payments to non-employees are measured at fair value on the grant date per ASU No. 2018-07, Improvements to Nonemployee Share-Based Payment Accounting.
Fair Value Measurements	The Company follows Accounting Standards Codification (“ASC” (“ASC 820” As a basis for considering such assumptions, a three-tier fair value hierarchy has been established, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions, which reflect those that a market participant would use. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the overall fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. The Company recognizes transfers between levels as if the transfers occurred on the last day of the reporting period.
Foreign Currency Translation	The Company’s foreign subsidiary has operations denominated in a foreign currency, and assets and liabilities are translated to U.S. dollars, which is the functional currency, at period end exchange rates. Income and expense items are translated at average rates of exchange prevailing during the periods presented. Gains and losses from translation adjustments are accumulated in a separate component of stockholders’ equity.
Goodwill and Intangible Assets	Goodwill represents the excess of the purchase price of the acquired business over the fair value of amounts assigned to assets acquired and liabilities assumed. Goodwill and other intangible assets with indefinite useful lives are reviewed for impairment annually or more frequently if events or circumstances indicate impairment may be present. Any excess in carrying value over the estimated fair value is charged to results of operations. The Company has not recognized any impairment charges through June 30, 2021. Intangible assets subject to amortization consist of in process research and development, license agreements, and patents reported at the fair value at date of the acquisition less accumulated amortization. Amortization expense is provided using the straight-line method over the estimated useful lives of the assets as follows: Patents 7.2 years
Impairment of Long-Lived Assets	The Company periodically evaluates its long-lived assets for potential impairment in accordance with ASC Topic 360, Property, Plant and Equipment (“ASC 360”
Income Taxes	Income taxes are recorded in accordance with ASC 740, Accounting for Income Taxes (“ASC 740” The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit will more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. On June 30, 2021, and December 31, 2020, the Company does not have any significant uncertain tax positions. All tax years are still open for audit.
Leases	The Company determines if an arrangement is a lease at inception. Operating leases are included in right-of-use (“ ROU
License Agreements	As more fully discussed in Note 14, the Company entered into a license agreement (the “ First Wave License Agreement First Wave As more fully discussed in Note 14, the Company entered into a sublicense agreement with TransChem, Inc. (“ TransChem
Research and Development	Research and development costs are charged to operations when incurred and are included in operating expense, except for goodwill related to patents. Research and development costs consist principally of compensation of employees and consultants that perform the Company’s research activities, payments to third parties for preclinical and non-clinical activities, expenses with clinical research organizations (CROs), investigative sites, consultants and contractors that conduct or provide other services relating to clinical trials, costs to acquire drug product, drug supply and clinical trial materials from contract development and manufacturing organization (CDMOs) and third-party contractors relating to chemistry, manufacturing and controls (“ CMC
Stock-Based Compensation	The Company’s board of directors (the “ Board 2014 Plan 2020 Plan ASC 718 For awards with performance conditions that affect their vesting, such as the occurrence of certain transactions or the achievement of certain operating or financial milestones, recognition of fair value of the award occurs when vesting becomes probable. The Company estimates the grant date fair value of stock option awards using the Black-Scholes option-pricing model. The use of the Black-Scholes option-pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the Common Stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the Common Stock.
Subsequent Events	The Company considered events or transactions occurring after the balance sheet date but prior to the date the consolidated financial statements are available to be issued for potential recognition or disclosure in its consolidated financial statements.
Recent Accounting Pronouncements	In August 2020, the FASB issued accounting pronouncement (ASU 2020-06) related to the measurement and disclosure requirements for convertible instruments and contracts in an entity’s own equity. The pronouncement simplifies and adds disclosure requirements for the accounting and measurement of convertible instruments and the settlement assessment for contracts in an entity’s own equity. As a smaller reporting company, as defined by the U.S. Securities and Exchange Commission (the “SEC”

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures
Schedule of financial instruments measured at fair value on a recurring basis	Fair Value Measured at Reporting Date Using Carrying Amount Level 1 Level 2 Level 3 Fair Value June 30, 2021: Cash and cash equivalents $ 8,074,491 $ 4,072,706 $ 4,001,785 $ - $ 8,074,491 Other receivables $ - $ - $ - $ - $ - Note payable $ 139,569 $ - $ - $ 139,569 $ 139,569 December 31, 2020: Cash and cash equivalents $ 6,062,141 $ 3,000,184 $ 3,061,957 $ - $ 6,062,141 Other receivables $ 551,489 $ - $ - $ 551,489 $ 551,489 Note payable $ 552,405 $ - $ - $ 552,405 $ 552,405

Other Receivables (Tables)

Other Receivables (Tables)	6 Months Ended
	Jun. 30, 2021
Other Receivables
Schedule of other receivables	June 30, December 31, 2021 2020 Research and development tax credits $ - $ 493,906 Other - 57,583 Total other receivables $ - $ 551,489

Property, Equipment, and Leas_2

Property, Equipment, and Leasehold Improvements (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Equipment, and Leasehold Improvements
Schedule of property, equipment and leasehold improvements	June 30, December 31, 2021 2020 Laboratory equipment $ - $ 2,410 Computer equipment and software 48,275 19,676 Office equipment 42,193 5,483 Leasehold improvements - 29,163 Total property, plant, and equipment 90,468 56,732 Less accumulated depreciation (1,225 ) (38,403 ) Property, plant and equipment, net $ 89,243 $ 18,329

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2021
Intangible Assets and Goodwill
Schedule of patents	Common stock issued at signing to Mayoly $ 1,740,959 Due to Mayoly at December 31, 2019 449,280 Due to Mayoly at December 31, 2020 393,120 Assumed Mayoly liabilities and forgiveness of Mayoly debt 1,219,386 $ 3,802,745
Schedule of intangible assets	June 30, December 31, 2021 2020 Patents $ 3,802,745 $ 3,802,745 Less accumulated amortization (1,186,983 ) (923,209 ) Patents, net $ 2,615,762 $ 2,879,536
Schedule of future amortization expense	2021 (balance of year) $ 263,774 2022 527,548 2023 527,548 2024 527,548 2025 527,548 2026 241,796 Total $ 2,615,762
Schedule of goodwill	Goodwill Balance on January 1, 2020 1,886,686 Foreign currency translation 167,362 Balance on December 31, 2020 2,054,048 Foreign currency translation (62,761 ) Balance on June 30, 2021 1,991,287

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2021
Accounts Payable and Accrued Expenses
Schedule of accounts payable and accrued expenses	June 30, December 31, 2021 2020 Trade payables $ 4,449,910 $ 1,558,591 Accrued expenses 193,975 127,012 Total accounts payable and accrued expenses $ 4,643,885 $ 1,685,603 June 30, December 31, 2021 2020 Current Lease liabilities $ 118,486 $ 57,417 Other liabilities 71,139 - $ 189,625 $ 57,417 Long-term Lease liabilities $ 285,753 $ 19,123 $ 285,753 $ 19,123

Warrants (Tables)

Warrants (Tables)	6 Months Ended
	Jun. 30, 2021
Accounts Payable and Accrued Expenses
Schedule of stock warrant transactions	Exercise Weighted Price Per Average Warrants Share Price Warrants outstanding and exercisable on January 1, 2020 5,378,288 $ 1.07- 7.37 $ 2.53 Granted during the period 2,012,989 1.07- 1.42 $ 1.10 Expired during the period (30,096 ) 4.76 - 7.37 $ 4.92 Exercised during the period - - - Warrants outstanding and exercisable on June 30, 2020 7,361,181 $ 1.07- 7.37 $ 2.13 Warrants outstanding and exercisable on January 1, 2021 25,179,192 $ 0.85- 7.37 $ 1.22 Granted during the period 39,224,830 $ 0.001-1.69 $ 0.78 Expired during the period (321,193 ) - - Exercised during the period (9,526,209 ) - - Warrants outstanding and exercisable on June 30, 2021 54,556,620 $ 0.80– 6.60 $ 1.02
Schedule of warrants by exercise price	Exercise Price Number of Shares Under Warrants Weighted Average Remaining Contract Life in Years Weighted Average Exercise Price $ 0.00 - 0.99 44,098,268 4.64 $ 1.00 - 1.99 8,407,884 3.88 $ 2.00 - 2.99 320,063 2.07 $ 3.00 - 3.99 611,683 0.86 $ 4.00 - 4.99 164,256 0.78 $ 5.00 - 5.99 766,716 0.70 $ 6.00 - 6.99 187,750 0.26 Totals 54,556,620 4.38 $ 1.02
Schedule of share-based payment weighted average assumptions	June 30, 2021 Expected life (in years) 4.38 Volatility 83.8- 90.8 % Risk-free interest rate 0.36- 0.90 % Dividend yield - %

Stock Options (Tables)

Stock Options (Tables)	6 Months Ended
	Jun. 30, 2021
Stock Options
Schedule of stock option activity	Average Remaining Number Exercise Contract Intrinsic of Shares Price Life (Years) Value Stock options outstanding on January 1, 2020 1,677,500 $ 2.17 5.37 $ - Granted during the period 795,006 $ 1.00 10.00 - Canceled during the period (200,000 ) $ 2.10 3.28 - Stock options outstanding on June 30, 2020 2,272,506 $ 1.86 6.52 $ - Exercisable on June 30, 2020 1,084,834 $ 2.59 5.6 $ - Non-vested stock options outstanding on January 1, 2020 883,500 $ 1.33 6.26 $ - Granted during the period 795,006 $ 1.03 10.00 - Vested during the period (365,834 ) $ 2.59 6.88 - Canceled during the period (125,000 ) $ 2.10 2.82 - Non-vested stock options outstanding on June 30, 2020 1,187,672 $ 1.24 7.06 $ - Average Remaining Number Exercise Contract Intrinsic of Shares Price Life (Years) Value Stock options outstanding on January 1, 2021 4,070,284 $ 1.38 7.94 $ - Granted during the period 1,564,691 $ 0.88 10.00 - Canceled during the period (1,339,784 ) $ 1.05 2.87 - Stock options outstanding on June 30, 2021 4,295,191 $ 1.18 7.72 $ 79,440 Exercisable on June 30, 2021 2,413,727 $ 1.41 6.70 $ 52,120 Non-vested stock options outstanding on January 1, 2021 2,740,657 $ 0.99 8.42 - Granted during the period 1,564,691 $ 0.88 10.00 - Vested during the period (1,468,504 ) $ - - - Canceled during the period (955,380 ) $ - - - Non-vested stock options outstanding on June 30, 2021 1,881,464 $ 0.87 9.04 $ -
Schedule of share-based payment weighted average assumptions	June 30, 2021 Contractual term (in years) 10 Volatility 83.8 - 90.6 % Risk-free interest rate 0.93 - 1.69 % Dividend yield - %

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases
Schedule of operating lease information	June 30, 2021 Lease term and discount rate Weighted-average remaining lease term 4.5 years Weighted-average discount rate 6.86 %
Schedule of maturities of operating lease liabilities	2021 $ 61,642 2022 104,629 2023 83,691 2024 86,202 2025 88,788 Thereafter 60,593 Total lease payments 485,545 Less imputed interest (81,306 ) Present value of lease liabilities $ 404,239

Other Liabilities (Tables))

Other Liabilities (Tables))	6 Months Ended
	Jun. 30, 2021
Accounts Payable and Accrued Expenses
Schedule of Other Liabilities	Note 10 – Other Liabilities Other liabilities consisted of the following: June 30, December 31, 2021 2020 Current Lease liabilities $ 118,486 $ 57,417 Other liabilities 71,139 - $ 189,625 $ 57,417 Long-term Lease liabilities $ 285,753 $ 19,123 $ 285,753 $ 19,123

Significant Accounting Polici_3

Significant Accounting Policies and Recent Accounting Pronouncements (Details Narrative) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Significant Accounting Policies and Recent Accounting Pronouncements
Cash in excess of FDIC limit	$ 3.8	$ 2.7
Useful life	7 years 2 months 12 days
Description of license acquisition	an asset acquisition and initial liabilities of approximately $13.3 million in connection with the license acquisition were recorded as research and development expense, because it was determined to have no alternative future uses and therefore no separate economic value, which included cash payments totaling approximately $10.3 million and the issuance of approximately $3.0 million worth of preferred stock.

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Cash and cash equivalents	$ 8,074,491	$ 6,062,141	$ 984,950	$ 175,796
Other receivables	0	57,583
Fair Value Carrying Amount [Member]
Cash and cash equivalents	8,074,491	6,062,141
Note payable	139,569	552,405
Other receivables	0	551,489
Level 1
Cash and cash equivalents	4,072,706	3,000,184
Note payable	0	0
Other receivables	0	0
Level 2 [Member]
Cash and cash equivalents	4,001,785	3,061,957
Note payable	0	0
Other receivables	0	0
Level 3 [Member]
Cash and cash equivalents	0	0
Note payable	139,569	552,405
Other receivables	0	551,489
Total [Member]
Cash and cash equivalents	8,074,491,000,000	6,062,141,000,000
Note payable	139,569	552,405
Other receivables	$ 0	$ 551,489

Fair Value Disclosures (Detai_2

Fair Value Disclosures (Details Narrative) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Cash and cash equivalents	$ 8,074,491	$ 6,062,141	$ 984,950	$ 175,796
Fair value [Member]
Cash and cash equivalents	$ 4,100,000	$ 3,000,000

Other Receivables (Details)

Other Receivables (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Other Receivables
Research and development tax credits	$ 0	$ 493,906
Other	0	57,583
Other receivables	$ 0	$ 551,489

Other Receivables (Details Narr

Other Receivables (Details Narrative)	1 Months Ended
	Apr. 30, 2021USD ($)
Other Receivables
Payment of refundable tax credits	$ 550,000

Property Equipment and Leasehol

Property Equipment and Leasehold Improvements (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Property, equipment and leasehold improvements, gross	$ 90,468	$ 56,732
Less accumulated depreciation	1,225	38,403
Property, equipment and leasehold improvements, net	89,243	18,329
Laboratory Equipment
Property, equipment and leasehold improvements, gross	48,275	19,676
Computer Equipment
Property, equipment and leasehold improvements, gross	42,193	5,483
Office Equipment
Property, equipment and leasehold improvements, gross	0	2,410
Leasehold Improvements
Property, equipment and leasehold improvements, gross	$ 0	$ 29,163

Property Equipment and Leaseh_2

Property Equipment and Leasehold Improvements (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lease hpold expenses			$ 29,000
Depreciation expense	$ 2,000	$ 9,000	3,014	$ 18,368
Research and Development Expense [Member]
Depreciation expense		5,000	2,000	9,000
General and Administrative Expense [Member]
Depreciation expense		$ 4,000	$ 1,000	$ 9,000

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details)	Jun. 30, 2021USD ($)
Due to Mayoly at 12/31/19
Patents	$ 449,280
Due to Mayoly at 12/31/20
Patents	393,120
Assumed Mayoly Liabilties and Forgiveness of Mayoly Debt
Patents	1,219,386
Common Stock Issued at Signing to Mayoly
Patents	$ 1,740,959

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Details 1) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Intangible assets, net	$ 3,800,000
Patents
Patents	3,802,745	$ 3,802,745
Less accumulated amortization	1,186,983	923,209
Intangible assets, net	$ 2,615,762	$ 2,879,536

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Details 2)	Jun. 30, 2021USD ($)
Intangible Assets and Goodwill
2021 (balance of year)	$ 263,774
2022	527,548
2023	527,548
2024	527,548
2025	527,548
2026	241,796
Total	$ 2,615,762

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill (Details 3) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Intangible Assets and Goodwill
Goodwill, beginning	$ 2,054,048	$ 1,886,686
Foreign currency translation	(62,761)	167,362
Goodwill, ending	$ 1,991,287	$ 2,054,048

Intangible Assets and Goodwil_6

Intangible Assets and Goodwill (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Intangible Assets and Goodwill
Amortization expense	$ 132,000	$ 132,000	$ 264,000	$ 264,000
Patent	$ 3,800,000		$ 3,800,000

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Accounts Payable and Accrued Expenses
Trade payables	$ 4,449,910	$ 1,558,591
Accrued expenses	193,975	127,012
Total accounts payable and accrued expenses	$ 4,643,885	$ 1,685,603

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Payment of agrrement debts	$ 70,000	$ 57,000
Notes payable	$ 139,569	113,000	$ 552,405
Interest rate	9.00%
Directors and Officer Liability Insurance [Member]
Payment of related party	$ 620,000	$ 500,000
Interest rate	4.25%	5.461%

Convertible debts (Details Narr

Convertible debts (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended	6 Months Ended		12 Months Ended
	Jan. 31, 2020	Dec. 20, 2019	Feb. 14, 2019	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2020	Apr. 30, 2020
Other Liabilities
Accrued interest expenses				$ 300,000	$ 104,000,000,000	$ 300,000			$ 200,000
Repayment of debt							$ 1,550,000
Interest expense related to the Promissory note				2,300,000		4,500,000
Debt discount related to the value of the Note Warrants				700,000		1,300,000
Beneficial conversion feature of note warrant	$ 1,800,000			1,100,000		2,200,000
Unamortized debt discount - debt issuance costs				$ 700,000		$ 700,000	$ (4,500,000)		$ 300,000
Issued of promissory note	3,500,000	$ 100,000	$ 1,000,000		3,500,000
Conversion price per share		$ 1.07
The fair value of the Note Warrants	2,400,000				$ 6,000,000
Incurred debt issuance costs	500,000
The carrying value of Promissory notes issued	$ 100,000		$ 2,000,000
Description of promissory note offering					the Company paid aggregate placement agent fees of approximately $277,000, which fees were based on (i) 9% of the aggregate principal amount of the Promissory Notes issued to the Note Investors introduced by the placement agent, and (ii) a non-accountable expense allowance of 1% of the gross proceeds from the Promissory Note Offering. In addition, the placement agent was issued warrants (the “Placement Agent Warrants”), to purchase an aggregate of 199,732 shares of Common Stock representing 7% of the Promissory Note Conversion Shares issuable upon conversion of the Promissory Notes issued to the Note Investors. The Placement Agent Warrants expire five years from the date of issuance. 41,495 of these Placement Agent Warrants have an exercise price of $1.21 per share and 158,237 of these Placement Agent Warrants have an exercise price of $1.42 per share
Description of exercise price of note warrant					The Note Warrants have an exercise price of $1.07 per share and expire five years from the date of issuance
Maturity date					Jul. 6, 2020
Interest rate					9.00%
Promissory note conversion price					$ 0.97
Convertible Promissory Notes		$ 8,000,000
Convertible debt, net					$ 450,000			$ 0

Other Liabilities (Details)

Other Liabilities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Other Liabilities
Lease liabilities, current	$ 118,486	$ 57,417
Other liabilities, current	71,139	0
Total other liabilities, current	189,625	57,417
Lease liabilities, noncurrent	285,753	19,123
Total other liabilities, noncurrent	$ 285,753	$ 19,123

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	Mar. 10, 2021	Mar. 07, 2021	Jan. 06, 2021	Sep. 11, 2020	May 26, 2021	Feb. 24, 2021	Jan. 31, 2021	Jul. 16, 2020	Nov. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Jan. 05, 2021	Dec. 20, 2019
Common stock par value						$ 0.0001				$ 0.0001		$ 0.0001		$ 0.0001
Common stock shares, authorizes						250,000,000				250,000,000		250,000,000		250,000,000
Common stock shares, issued										82,585,075		82,585,075		31,150,309
Common stock shares, outstanding										82,585,075		82,585,075		31,150,309
Preferred stock shares, authorizes						10,000,000
Preferred stock par value						$ 0.0001
preferred stock remaining authorized but unissued										9,969,515		9,969,515
Conversion price																$ 1.07
Percentage holders election												50.00%
Special Meeting [Member]
Increase authorized shares of Common Stock						150,000,000
Reverse stock split						ranging from one-for-five (1:5) to one-for-ten (1:10), any time prior to the one-year anniversary date of the 2021
Reverse Split expire						Feb. 24, 2022
First Wave License Agreement [Member]
Net proceeds			$ 7,100,000
Gross proceeds			$ 8,000,000
January 2021 [Member]
Total proceeds												$ 7,100,000
Net offering costs												900,000
Offering Series C Preferred Stock amount												4,600,000
Offerings warrant amount												3,400,000
Deemed dividend												4,300,000
Total offering costs												$ 900,000
January 2021 Offerings [Member]
Series B Preferred Stock exercise shares										5,639		19,140
Stock options shares issued										5,639,153		19,140,140
Deemed dividend										$ 3,400,000		$ 21,000,000
Exchange stock shares										533		1,839
March 2021 Offerings [Member]
Percentage	125.00%
Net proceeds	$ 9,100,000
Warrant shares	550,099	2,058,548
Exercise price		$ 0.01
Agent cash fee percentages	8.00%
Aggregate gross proceeds received	$ 800,000
Dividing the gross proceeds	7.00%
Non-accountable expenses	$ 35,000
Legal fees and expenses	50,000
Clearing fees	16,000
Gross proceeds	$ 10,000,000
Direct offering		5,800,000
Additional shares		3,929,274
Additional shares exercise price	$ 1.5906	$ 1.21
Offering price per shares	$ 1.2725	$ 1.2725
Placement Agent Warrants [Member] | January 2021 [Member]
Stock options shares issued												746,667
Percentage												125.00%
Agent cash fee percentages												8.00%
Management fee percentage												1.00%
Aggregate gross proceeds received												$ 700,000
Offering price per share										$ 0.75		$ 0.75
Dividing the gross proceeds												7.00%
Warrants exercisable price										0.9375		$ 0.9375
Non-accountable expenses												$ 35,000
Legal fees and expenses												125,000
Clearing fees												$ 12,900
Increase warrant authorized shares												150,000,000
Securities Purchase Agreement [Member] | January 2021 [Member]
Warrant shares												10,666,668
Price per share														$ 750
Initially convertible common stock														5,333,334
Exercise price										0.80		$ 0.80
Direct offering														5,333,333
Initial stated price														$ 750
Conversion price														$ 0.75
Additional direct offering shares												$ 5,333
Series B Private Placement [Member]
Series B Convertible Preferred Stock Shares								2,912
Series B Convertible Preferred Stock par value								$ 0.0001
Initially convertible common stock								29,125,756
Share price								$ 7,700
Series B warrant shares								14,562,826
Common stock price								$ 0.77
Exercise price								$ 0.85
Warrant percentage								50.00%
Series B Private Placement 1 [Member]
Net proceeds												$ 13,200,000
Series B Convertible Preferred Stock Shares												1,975
Initially convertible common stock												19,755,748
Series B warrant shares												9,877,835
Gross proceeds												$ 15,200,000
Series B Private Placement 2 [Member]
Series B Convertible Preferred Stock Shares												937
Initially convertible common stock												9,370,008
Series B warrant shares												4,684,991
Exercise price										$ 0.85		$ 0.85
Warrant percentage												25.00%
Outstanding principal amount												$ 6,900,000
Accrued and unpaid interest												300,000
Additional warrants												$ 1,772,937
Preferred stock price percentage												150.00%
Remaining outstanding												$ 25,000
Restricted Stock [Member]
Reserved restricted stock unit											2,917		8,334
Vest grant date fair value											$ 10,500		$ 30,008
Unrecognized restricted common stock expense												394,000	400,000
Unrecognized expense vests												197,000	6,000
Capitalization exceeding												1,000,000,000	1,000,000,000
Unrecognized expense												197,000	$ 197,000
Average remaining vesting life													1 month 24 days
Common Stock 1 [Member]
Series C Preferred Stock, convertible Shares										563,915
Grant fair value										$ 147,000		$ 1,100,000	$ 87,000
Aggregate Common Stock shares										195,000		770,301	101,195
Conversion of common stock shares										5,639,153
Series C Preferred Stock stated value										$ 4,100,000
Accrued dividends										$ 122,000		$ 122,000
Common stock shaes exercise										328,375
Warrant shares										328,375
Common Stock 2 [Member]
Aggregate Common Stock shares										195,000		75,000	105,937
Warrant shares										328,375
Fair value instrument												$ 94,000	$ 131,000
Price per share											$ 1.24		$ 1.24
Common Stock 3 [Member]
Aggregate Common Stock shares												31,254,595
Conversion of common stock shares												33,097
Series C Preferred Stock stated value												$ 24,700,000
Accrued dividends										$ 198,000		$ 198,000
Warrant shares										328,375
Common Stock 4 [Member]
Aggregate Common Stock shares												9,456,443
Conversion of common stock shares												9,526,209
Warrant shares												3,991,882
Common Stock 5 [Member]
Aggregate Common Stock shares												2,582,782
Conversion of common stock shares												258
Series C Preferred Stock stated value												$ 2,000,000
Accrued dividends										$ 3,000		$ 3,000
At The Market Agreement with H C Wainwright [Member]
Net proceeds										$ 1,300,000
Commission					3.00%
Common Stock authorized amount					$ 50,000,000
Common stock share issuable					1,495,645					1,495,645
Issuance costs										$ 46,000
2014 Equity Incentive Plan [Member]
Stock options shares issued													795,006
Restricted stock shares, issued										2,720,500		2,720,500
Restricted stock shares, outstanding										2,720,500		2,720,500
Reserved restricted stock unit												387,000
2020 Equity Incentive Plan [Member]
Common stock shares, authorizes										10,000,000		10,000,000
Common stock shares, issued										1,574,691		1,574,691
Common stock shares, outstanding										1,574,691		1,574,691
Stock options shares issued												1,564,691
Initial number of shares common Stock				10,000,000
Percentage				10.00%
Incentive stock options				15,000,000
Potential shares issuances												8,425,309
Equity Line with Lincoln Park [Member]
Common stock shares amount									$ 15,000,000
Common stock shares, share									487,168
Grant fair value									$ 297,000
Availability share issuance												14,000,000
Aggregate Share issued												0	1,495,199
Net proceeds												$ 0	$ 988,000
Series B Convertible Preferred Stock[Member]
Series B Preferred Stock value										$ 7,700		$ 7,700
Series B Preferred Stock [Member]
Preferred stock shares, authorizes								5,195		676		676		5,195
Preferred stock par value										$ 0.0001		$ 0.0001		$ 0.0001
Series B Preferred Stock value										$ 0		$ 0		$ 0
Dividends payable amount										$ 231,000		$ 231,000
Preferred stock price percentage												9.00%
Conversion price										$ 0.77		$ 0.77
Preferred stock shares, issued										677		677		2,774
Preferred stock shares, outstanding										2,168		2,168		2,774
Payment of fractional shares amount												$ 100
Liquidation preference Series B Preferred Stock value										$ 5,400,000		$ 5,400,000
Closing price										$ 1.925		$ 1.925
Percentage holders election												19.99%
Affiliates exceeding percentage												9.99%
Stock exceeds												250.00%
Series B Preferred Stock [Member] | Most Favored Nations (MFN) Exchange Right [Member]
Series C Preferred Stock, convertible Shares												19,140,240
Series B Preferred Stock amount										$ 14,400,000		$ 14,400,000
Series B Preferred Stock shares										1,839		1,839
Warrants exercisable shares							19,140,140
Series B Preferred Stock exercise shares												676
Dividends payable amount										$ 231,000		$ 231,000
Additional shares of Series B Preferred stock												724,885
Common Stock underlying shares										7,248,846		7,248,846
Warrants to purchase upto additional common stock shares												7,248,846
Series B Preferred Stock [Member] | Most Favored Nations (MFN) Exchange Right [Member] | January 2021 [Member]
Series B Preferred Stock shares										1,839		1,839
Stock options shares issued										5,639,153		19,140,240
Conversion price										$ 0.77		$ 0.77
Remained unconverted pending stockholder shares												334,463
Exchange Amount										$ 4,200,000		$ 14,400,000
Series B Exchange Rights shares										5,639		19,140
Series B Exchange Right convertible stock										5,639,153		13,166,624
Accrued dividends												$ 2,000
Shares of common stock												336,994
Additional shares												7,248
Currently convertible underlying shares												7,248,846
Additional warrant purchase shares												7,248,846
Series C Preferred Stock
Preferred stock shares, authorizes										57,000		57,000		57,000	75,000
Preferred stock par value										$ 0.0001		$ 0.0001		$ 0.0001
Series B Preferred Stock value										$ 0		$ 0		$ 0
Preferred stock shares, issued										0		0		0	47,542
Preferred stock shares, outstanding										0		0		0	47,542

Warrants (Details)

Warrants (Details) - $ / shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Warrants issued and exercisable, beginning	25,179,192	5,378,288
Granted	39,224,830	2,012,989
Expired	(321,193)	30,096
Exercised	9,526,209	0
Warrants issued and exercisable, ending	54,556,620	7,361,181
Exercise price expired	$ 0	$ 0
Exercise price exercised	0	0
Weighted average exercise price, beginning	1.22	2.53
Weighted average exercise price, granted	0.78	1.10
Weighted average exercise price warrants, expired	0	4.92
Weighted average exercise price warrants, exercised	0	0
Weighted average exercise price, ending	1.02	2.13
Minimum
Exercise price outstanding, beginning	0.85	1.07
Exercise price granted	0.001	1.07
Exercise price outstanding, ending	0.80	1.07
Maximum
Exercise price outstanding, beginning	7.37	7.37
Exercise price granted	1.69	1.42
Exercise price outstanding, ending	$ 6.60	$ 7.37

Warrants (Details 1)

Warrants (Details 1)	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Number of shares under warrants	54,556,620
Weighted average remaining contract life in years	4 years 4 months 17 days
Weighted average exercise price | $ / shares	$ 1.02
Warrant 1 [Member]
Number of shares under warrants	44,098,268
Weighted average remaining contract life in years	4 years 7 months 20 days
Exercise price	0.00 - 0.99
Warrant 2 [Member]
Number of shares under warrants	8,407,884
Weighted average remaining contract life in years	3 years 10 months 17 days
Exercise price	1.00 - 1.99
Warrant 3[Member]
Number of shares under warrants	320,063
Weighted average remaining contract life in years	2 years 25 days
Exercise price	2.00 - 2.99
Warrant 4 [Member]
Number of shares under warrants	611,683
Weighted average remaining contract life in years	10 months 9 days
Exercise price	3.00 - 3.99
Warrant 5 [Member]
Number of shares under warrants	164,256
Weighted average remaining contract life in years	9 months 10 days
Exercise price	4.00 - 4.99
Warrant 6 [Member]
Number of shares under warrants	766,716
Weighted average remaining contract life in years	8 months 12 days
Exercise price	5.00 - 5.99
Warrant 7 [Member]
Number of shares under warrants	187,750
Weighted average remaining contract life in years	3 months 3 days
Exercise price	6.00 - 6.99

Warrants (Details 2)

Warrants (Details 2)	6 Months Ended
	Jun. 30, 2021
Accounts Payable and Accrued Expenses
Expected life (in years)	4 years 4 months 17 days
Volatility, minimum	83.80%
Volatility, maximum	90.80%
Risk-free interest rate, minimum	0.36%
Risk-free interest rate, maximum	0.90%
Dividend yield	0.00%

Warrants (Details Narrative)

Warrants (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Jan. 31, 2020	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Expiry date			Jul. 6, 2020
Common stock shares issued		328,375	10,666,668
Common Stock exercise for cash		$ 264,000	$ 10,233,638	$ 988,348
Prefund warrants issued			9,526,209
Additional paid in capital		$ 3,400,000	$ 3,400,000
Total of fair value of warrant	$ 2,400,000		$ 6,000,000
ExercisePrice		$ 0.80	$ 0.80
Cash proceeds from common stock			$ 4,900,000
Purchase of warrants					54,556,620
June 30 2021 [Member]
Common stock shares issued			19,140,240
Additional paid in capital		$ 13,501,087,000,000	$ 13,501,087,000,000
Total of fair value of warrant			$ 21,000,000
ExercisePrice		$ 0.80	$ 0.80
March 2021 [Member]
Common stock shares issued			3,929,274
Total of fair value of warrant			$ 3,500,000
ExercisePrice		$ 1.21	$ 1.21
Series C Preferred Stock
Common stock shares issued			1,933,334
Additional paid in capital		$ 0	$ 0
Total of fair value of warrant			$ 1,600,000
ExercisePrice		$ 0.001	$ 0.001
Placement Agent Warrants 1 [Member]
Common stock shares issued			550,099
Total of fair value of warrant			$ 453,000,000,000
ExercisePrice		1.5906	$ 1.5906
Warrant period			5 years
Placement Agent Warrants [Member]
Expiry date			Jul. 6, 2020
Common stock shares issued			746,667
Total of fair value of warrant			$ 392,000,000,000
ExercisePrice		0.9375	$ 0.9375
Investor Warrant 1 [Member]
Common stock shares issued			2,058,548
Total of fair value of warrant			$ 2,600,000
ExercisePrice		0.01	$ 0.01
Common Stock 2 [Member]
Common stock shares issued			199,732
Total of fair value of warrant			$ 174,000,000,000
ExercisePrice		1.21	$ 1.21
Warrant period			5 years
Description of expiration			expire five years from issuance. 41,495 of these Placement Agent Warrants are exercisable at $1.21 per share and 158,237 are exercisable at $1.42 per share.
Investor Warrant 2 [Member]
Common stock shares issued			1,813,257
Total of fair value of warrant			$ 1,600,000
ExercisePrice		1.07	$ 1.07
Warrant period			5 years
Investor Warrants [Member]
Expiry date			Jul. 6, 2026
Common stock shares issued			5,639,153
Total of fair value of warrant			$ 3,400,000
ExercisePrice		0.80	$ 0.80
Warrant period			5 years
Common Stock [Member]
Common stock shares issued			200,000
Total of fair value of warrant			$ 214,000,000,000
ExercisePrice		$ 1.69	$ 1.69
Warrant period			4 years
Stock based compensation			$ 161,000
Purchase of warrants		200,000	200,000
Fair value of stockbased compensation			$ 214,000

Stock Options (Details)

Stock Options (Details)	6 Months Ended
	Jun. 30, 2021
Dividend yield	0.00%
Contractual term (in years)	4 years 4 months 17 days
Volatility, minimum	83.80%
Volatility, maximum	90.80%
Risk-free interest rate, minimum	0.36%
Risk-free interest rate, maximum	0.90%
Stock Option
Dividend yield	0.00%
Contractual term (in years)	10 years
Volatility, minimum	83.80%
Volatility, maximum	90.60%
Risk-free interest rate, minimum	0.93%
Risk-free interest rate, maximum	1.69%

Stock Options (Details 1)

Stock Options (Details 1) - $ / shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Number of Options Outstanding, Beginning Balance	4,070,284	1,677,500
Number of Options, Granted	1,564,491	795,605
Number of Options, Canceled	(1,339,784)	(200,000)
Number of Options Outstanding, Ending Balance	4,295,191	2,272,506
Number of Options Exercisable, Ending Balance	2,413,727	1,084,834
Weighted-Average Exercise Price Outstanding, Beginning Balance	$ 1.38	$ 2.17
Weighted-Average Exercise Price, Granted	0.88	1
Weighted-Average Exercise Price, Expired	0	0
Weighted-Average Exercise Price, Exercised	0	0
Weighted-Average Exercise Price, Canceled	1.05	2.10
Weighted-Average Exercise Price Outstanding, Ending Balance	1.18	1.86
Weighted-Average Exercise Price Exercisable, Ending Balance	$ 1.41	$ 2.59
Weighted-Average Remaining Contractual Term, Outstanding Beginning Balance	7 years 11 months 8 days	5 years 4 months 13 days
Weighted-Average Remaining Contractual Term, Granted	10 years	10 years
Weighted-Average Remaining Contractual Term, Canceled		3 years 3 months 10 days
Weighted-Average Remaining Contractual Term, Outstanding Ending Balance	6 years 8 months 12 days	6 years 6 months 7 days
Weighted-Average Remaining Contractual Term, Exercisable Ending Balance	7 years 8 months 19 days	5 years 7 months 6 days
Nonvested
Number of Options Outstanding, Beginning Balance	2,740,657	883,500
Number of Options, Granted	1,564,691	795,006
Number of Options, Canceled	(955,380)	(125,000)
Number of Options Outstanding, Ending Balance	1,881,464	1,187,272
Weighted-Average Exercise Price Outstanding, Beginning Balance	$ 0.99	$ 1.33
Weighted-Average Exercise Price, Granted	0.88	1.01
Weighted-Average Exercise Price, Expired	0	0
Weighted-Average Exercise Price, Exercised	0	0
Weighted-Average Exercise Price, Canceled	0	2.10
Weighted-Average Exercise Price Outstanding, Ending Balance	$ 0.87	$ 1.24
Weighted-Average Remaining Contractual Term, Outstanding Beginning Balance	8 years 5 months 1 day	6 years 3 months 3 days
Weighted-Average Remaining Contractual Term, Granted	10 years	10 years
Weighted-Average Remaining Contractual Term, Canceled	0 years	2 years 9 months 25 days
Weighted-Average Remaining Contractual Term, Outstanding Ending Balance	9 years 14 days	7 years 21 days
Number of Options, Vested	(1,468,504)	(365,834)
Weighted-Average Exercise Price, Vested	$ 0	$ 2.59
Weighted-Average Remaining Contractual Term, Vested	0 years	6 years 10 months 17 days

Stock Options (Details Narrativ

Stock Options (Details Narrative)	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)integer$ / sharesshares	Jun. 30, 2020USD ($)$ / shares
Stock options to purchase common stock | shares			200,000
Unrecognized stock-based compensation expense	$ 1,100,000	$ 900,000	$ 1,100,000	$ 900,000
Unrecognized expense, recognized	800,000	327,000	800,000	327,000
General and administrative expense	3,629,090	1,304,527	9,326,604	2,679,618
Research and development expense	$ 5,647,798	1,089,177	$ 8,163,825	$ 2,642,537
Common stock shares stock awards, exercise price | $ / shares			$ 0.88	$ 1
Remaining stock options to purchase of common stock vested | shares	328,375		10,666,668
2020 Plan
Options total fair value	$ 274,000		$ 300,000
Strike price | $ / shares	$ 0.78
Stock options to purchase common stock vesting period	3 years		3 years
Stock option issued during period vesting	10 years		10 years
Stock option issued during period | shares	36,000		379,685
2014 Plan
Stock option issued during period | shares	19,264		154,778
Minimum
Strike price | $ / shares			$ 0.97
Minimum | 2020 Plan
Strike price | $ / shares			0.78
Minimum | 2014 Plan
Strike price | $ / shares	$ 0.85		0.85
Maximum
Strike price | $ / shares			3.60
Maximum | 2020 Plan
Strike price | $ / shares			1.54
Maximum | 2014 Plan
Strike price | $ / shares	$ 3.60		$ 3.60
Service-based Milestone
Stock options to purchase common stock | shares			416,142
Stock options to purchas related to services | shares			315,834
Stock options to purchas related to services fair value			$ 200,977
General and administrative expense			245,000
Options total fair value			305,000
Research and development expense			$ 60,000
New Sapirstein Awards
Stock options to purchase common stock | shares			300,000
Common stock shares stock awards | shares			900,000
Common stock shares stock awards, exercise price | $ / shares			$ 0.85
Stock options to purchase common stock vesting period			18 years
Number of installment | integer			18
Stock options to purchase shares of common stock subject to milestone-based vesting | shares			400,000
Stock options to purchase shares of common stock subject to milestone-based | shares			200,000
Recognize total share based expense			$ 492,000
U.S. Phase 2 Clinical Trial
Unrecognized expense vest upon enrollment completion				$ 41,000
Unrecognized expense vest upon trial completion		20,000		20,000
U.S. Phase 3 Clinical Trial
Unrecognized stock-based compensation expense	$ 40,000,000,000	40,000,000,000	$ 40,000,000,000	40,000,000,000
Unrecognized stock-based compensation value		440,000		440,000
U.S. Phase 1 Clinical Trial
Stock options to purchase common stock | shares			100,000
Unrecognized stock-based compensation expense		$ 40,000,000,000		$ 40,000,000,000
Options total fair value			$ 40,000
Performance-based Milestone
Stock options to purchase common stock | shares			755,000
Stock options to purchas related to services | shares			50,000
Stock options to purchas related to services fair value			$ 20,150
General and administrative expense			253,000
Options total fair value			623,000
Research and development expense			$ 370,000
Maximum probability of clinical trial percentage	75.00%		75.00%
Phase 2 OPTION 2 Clinical Trial
Stock options to purchase common stock | shares			7,500
Options total fair value			$ 8,000
Phase 2 OPTION 2 Clinical Trial 1
Stock options to purchase common stock | shares			210,000
Options total fair value			$ 148,000
Phase 2 Combination Trial in Europe
Stock options to purchase common stock | shares			437,500
Options total fair value			$ 427,000
U.S. Phase 1 and 3 Clinical Trial
Unrecognized stock-based compensation expense	$ 140,000,000,000		$ 140,000,000,000
New Schneiderman Awards
Stock options to purchase common stock | shares			250,000
Common stock shares stock awards | shares			285,006
Common stock shares stock awards, exercise price | $ / shares			$ 0.85
Stock options to purchase common stock vesting period			2 years 1 month
Number of installment | integer			25
Recognize total share based expense			$ 192,000
Stock options to purchase shares of common stock vested | shares			79,860
Remaining stock options to purchase of common stock vested | shares			170,140
New Schneiderman Awards | Transaction 2
Stock options to purchase common stock vesting period			19 years
Number of installment | integer			19
Stock options to purchase shares of common stock vested | shares			17,504
New Schneiderman Awards | Transaction 1
Stock options to purchase shares of common stock vested | shares			17,502

Agreements (Details Narrative)

Agreements (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended	6 Months Ended
	Feb. 24, 2021	Jan. 31, 2021	Jan. 31, 2020	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jan. 08, 2021	Jan. 05, 2021	Dec. 31, 2020
Deemed dividend equal to intrinsic value of beneficial conversion feature			$ 1,800,000	$ 1,100,000		$ 2,200,000
Series C Preferred Stock
Preferred stock shares issued					0			47,542	0
License Agreement with First Wave Bio, Inc.
Upfront cash payment		$ 9,000,000			$ 1,250,000
Obligation to pay potential milestone payments					37,000,000
Milestone payment related to research and development					1,000,000
Accounts payable milestone payment					1,000,000
Convertible preferred stock convertible into of common stock					$ 3,000,000
Convertible aggregate of shares of common stock					3,290,196
Conversion price per share					$ 0.9118
License Agreement with First Wave Bio, Inc. | Series C Preferred Stock
Convertible aggregate of shares of common stock							3,290,196
Conversion price per share							$ 0.75
Preferred stock shares issued							32,901,960
Convertible aggregate of shares of common stock fair value							$ 2,500,000
Deemed dividend equal to intrinsic value of beneficial conversion feature	$ 230,000
Change in fair value of stock	500,000
fair value of liability	$ 3,000,000

Leases (Details)

Leases (Details)	6 Months Ended
	Jun. 30, 2021
Leases
Weighted-average remaining lease term	4 years 6 months
Weighted-average discount rate	6.86%

Leases (Details 1)

Leases (Details 1)	Jun. 30, 2021USD ($)
Leases
2021	$ 61,642
2022	104,629
2023	83,691
2024	86,202
2025	88,788
Thereafter	60,593
Total lease payments	485,545
Less: imputed interest	81,306
Present value of lease liabilities	$ 404,239

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Leases
Lease expense	$ 57,000	$ 40,000	$ 110,000	$ 77,000
Leases expiry description			leases expire at various dates through 2026
Short term liability	118,486		$ 118,486		$ 57,417
Long-term lease liability	$ 285,753		$ 285,753		$ 19,123

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Income Taxes
Gross deferred tax asset	$ 27.3		$ 26.1
Deferred tax asset valuation allowance	(27.3)		(26.1)
Change in valuation allowance	(1.2)	$ (0.4)
State operating loss carry-forwards	22.6
Domestic operating loss carry-forwards	65.1
Net operating losses carryforward indefinitely to offset against future French income	$ 27		$ 23
Percentage of ownership	50.00%

Net Loss per Common Share (Deta

Net Loss per Common Share (Details Narrative) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Convertible Debt
Anti-dilutive shares excluded from earnings per share		7,427,032
Investor Warrants
Anti-dilutive shares excluded from earnings per share	188,307
Restricted Stock and Restricted Stock Units
Anti-dilutive shares excluded from earnings per share	275,000	387,000
Stock Option
Anti-dilutive shares excluded from earnings per share	4,295,191	2,272,506
Restricted Stock [Member]
Anti-dilutive shares excluded from earnings per share	112,000
Warrants [Member]
Anti-dilutive shares excluded from earnings per share	54,556,620	7,361,181
Series B Preferred Stock [Member]
Anti-dilutive shares excluded from earnings per share	7,060,539

Employee Benefit Plans (Details

Employee Benefit Plans (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Employer contributions	$ 23,000	$ 40,000	$ 55,000	$ 62,000
Employee contribution discretionary profit-sharing contributions percentage			6.00%
Minimum
Employees contribution compensation range of percentage			1.00%
Maximum
Employees contribution compensation range of percentage			100.00%

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Aug. 13, 2021	Jul. 27, 2021	Jul. 22, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Feb. 24, 2021	Dec. 31, 2020	Jul. 16, 2020
Common stock shares issued				82,585,075		82,585,075			31,150,309
Proceeds from issuance of common stock shares				$ 264,000		$ 10,233,638	$ 988,348
Underwriting discount percentage						50.00%
Preferred stock accrued dividends				$ 26,661	$ 0	$ 231,043
Preferred stock shares								10,000,000
Series B Preferred Stock [Member]
Underwriting discount percentage						19.99%
Preferred stock shares				676		676			5,195	5,195
Subsequent Event | July 2021 Offering
Common stock shares issued			9,090,910
Offering price per share			$ 0.55
Additional shares of common stock issued		1,363,636
Warrants term			5 years
Warrants offering price percentage			125.00%
Warrants to purchase shares of common stock			731,819
Warrants to purchase shares of common stock, exercise price per share			$ 0.6875
Proceeds from issuance of common stock shares			$ 5,100,000
Underwriting discount percentage			8.00%
Non-accountable expense allowance			$ 35,000
Legal fees			125,000
Clearing expenses			$ 15,950
Subsequent Event | July 2021 Offering | Series B Preferred Stock [Member]
Warrants to purchase shares of common stock	9,987,571
Warrants to purchase shares of common stock, exercise price per share	$ 0.55
Subsequent Event | Most Favored Nations (MFN) Exchange Right | Series B Preferred Stock [Member]
Warrants to purchase shares of common stock	7,324,125
Preferred stock accrued dividends	$ 288,000
Preferred stock shares	67,605
Additional shares of preferred stock	7,324,125
Preferred Stock currently convertible underlying shares of common stock	7,324,125