Salarius Pharmaceuticals (SLRX) 10-K 18 Mar 21 2020 FY Annual report Financial data

COVER PAGE

COVER PAGE - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 15, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	SALARIUS PHARMACEUTICALS, INC.
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Annual Report	true
Document Transition Report	false
Document Type	10-K
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Title of 12(b) Security	Common Stock, par value $ 0.0001
Trading Symbol	SLRX
Security Exchange Name	NASDAQ
Entity File Number	001-36812
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	2450 Holcombe Blvd
Entity Address, Address Line Two	Suite X
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77021
Entity Tax Identification Number	46-5087339
City Area Code	832
Local Phone Number	834-6992
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 19,157,672
Entity Common Stock, Shares Outstanding		44,734,328
Amendment Flag	false
Entity Central Index Key	0001615219
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for its 2021 Annual Meeting of Stockholders, which will be filed with the United States Securities and Exchange Commission within 120 days of December 31, 2020, are incorporated by reference into Part III of this Annual Report on Form 10-K.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 11,118,614	$ 3,738,900
Grants receivable from CPRIT	3,855,996	0
Prepaid expenses and other current assets	822,050	955,899
Total current assets	15,796,660	4,694,799
Property and equipment, net	22,639	25,016
Goodwill	8,865,909	8,865,909
Other assets	247,113	308,674
Total assets	24,932,321	13,894,398
Current liabilities:
Accounts payable	1,853,756	1,790,966
Accrued expenses and other current liabilities	383,138	160,783
Note payable	477,028	502,332
Deferred revenue	0	541,701
Warrant liability	59,211	317,762
Total liabilities	2,773,133	3,313,544
Commitments and contingencies (NOTE 5)
Stockholders' equity (deficit):
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.0001 par value; 100,000,000 shares authorized; 23,810,541 and 4,519,533 shares issued at December 31, 2020 and December 31, 2019, and 23,808,546 and 4,511,174 shares outstanding at December 31, 2020 and December 31, 2019, respectively	2,381	451
Additional paid-in capital	41,585,761	22,657,103
Accumulated deficit	(19,428,954)	(12,076,700)
Total stockholders' equity	22,159,188	10,580,854
Total liabilities and stockholders' equity	$ 24,932,321	$ 13,894,398

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	23,810,541	4,519,533
Common stock, shares outstanding	23,808,546	4,511,174

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue from contract with customer, product and service	us-gaap:GrantMember	us-gaap:GrantMember
Grant revenue	$ 5,233,301	$ 3,465,055
Operating expenses:
Research and development	6,913,853	4,018,951
General and administrative	6,105,793	7,711,181
Total operating expenses	13,019,646	11,730,132
Loss before other income (expense)	(7,786,345)	(8,265,077)
Change in fair value of warrant liability	258,551	1,311,333
Government grants and other income	178,587	1,833
Interest income (expense), net	(3,047)	15,648
Loss from operations	(7,352,254)	(6,936,263)
Net loss	(7,352,254)	(6,936,263)
Fair value increase related to warrant modification	(396,407)	0
Loss attributable to common stockholders	$ (7,748,661)	$ (6,936,263)
Loss per common share — basic and diluted
Continuing operations (usd per share)	$ (0.50)	$ (2.12)
Total net loss per share (usd per share)	$ (0.50)	$ (2.12)
Weighted-average number of common shares outstanding — basic and diluted	15,578,611	3,268,637

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Net loss	$ (7,352,254)	$ (6,936,263)
Adjustments to reconcile net loss to net cash (used in) operating activities:
Depreciation, amortization and impairment	18,058	127,408
Equity-based compensation expense	319,391	751,618
Change in fair value of warrant liability	(258,551)	(1,311,333)
Changes in operating assets and liabilities:
Grants receivable	(3,855,996)	0
Accounts receivable	0	690
Inventory	0	1,169
Prepaid expenses and other current assets	1,140,117	91,582
Accounts payable	(2,782)	(519,276)
Accrued expenses and other current liabilities	222,355	(320,637)
Deferred revenue	(541,701)	(3,465,054)
Net cash used in operating activities	(10,311,363)	(11,580,096)
Investing activities
Purchase of property and equipment	(2,600)	0
Net cash received in reverse acquisition	0	5,403,634
Net proceeds received from disposal of discontinued operations	0	204,274
Net cash (used in) provided by investing activities	(2,600)	5,607,908
Financing activities
Proceeds from issuance of equity securities	14,798,944	4,130,786
Payment of dividends	0	(133,594)
Warrants exercised for cash	3,869,168	0
Payments on note payable	(974,435)	(417,885)
Net cash provided by financing activities	17,693,677	3,579,307
Net increase (decrease) in cash, cash equivalents and restricted cash	7,379,714	(2,392,881)
Cash, cash equivalents and restricted cash at beginning of period	3,738,900	6,131,781
Cash, cash equivalents and restricted cash at end of period	11,118,614	3,738,900
Supplemental disclosure of cash flow information:
Cash paid for interest	8,663	9,005
Non-cash investing and financing activities:
Shares issued	0	110,474
Conversion of liabilities to equity securities	0	2,869,412
Change in accrued capital expenditures	8,657	0
Accrued issuance costs for warrants exercised for cash	56,915	0
Prepaid expense financed by note payable	949,131	920,217
Business combinations
Non-cash investing and financing activities:
Shares issued	$ 0	$ 11,093,561

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Total	Common Stock	Preferred Stock	Additional Paid-In Capital	Accumulated Deficit
Equity, beginning balance (in shares) at Dec. 31, 2018		2,032,763	0
Equity, beginning balance at Dec. 31, 2018	$ (1,271,114)	$ 203	$ 0	$ 3,869,120	$ (5,140,437)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of equity securities, net (shares)		1,711,350
Issuance of equity securities, net	6,932,336	$ 170		6,932,166
Equity-based compensation expense (shares)		31,586
Equity-based compensation expense	751,618	$ 5		751,613
Issuance of equity securities for services (shares)		12,907
Issuance of equity securities for services	110,474	$ 1		110,473
Fair value increase related to warrant modification	0
Distribution to stockholders	$ (99,758)			(99,758)
Effect of reverse acquisition (shares)	722,568
Effect of reverse acquisition	$ 11,093,561	72		11,093,489
Net loss	(6,936,263)				(6,936,263)
Equity, ending balance at Dec. 31, 2019	10,580,854	$ 451	$ 0	22,657,103	(12,076,700)
Equity, ending balance (in shares) at Dec. 31, 2019		4,511,174	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of equity securities, net (shares)		13,483,870	1,246,519
Issuance of equity securities, net	14,798,944	$ 1,348	$ 125	14,797,471
Preferred shares converted to common shares (shares)		1,246,519	(1,246,519)
Preferred shares converted to common shares	0	$ 125	$ (125)
Warrants exercised for cash (in shares)		4,517,910
Warrants exercised for cash	3,812,253	$ 452		3,811,801
Equity-based compensation expense (shares)		30,509
Equity-based compensation expense	269,393	$ 3		269,390
Issuance of equity securities for services (shares)		18,564
Issuance of equity securities for services	49,998	$ 2		49,996
Modification of warrants exercise prices and terms	396,407			396,407
Fair value increase related to warrant modification	(396,407)			(396,407)
Net loss	(7,352,254)				(7,352,254)
Equity, ending balance at Dec. 31, 2020	$ 22,159,188	$ 2,381	$ 0	$ 41,585,761	$ (19,428,954)
Equity, ending balance (in shares) at Dec. 31, 2020		23,808,546	0

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND OPERATIONS	ORGANIZATION AND OPERATIONS Nature of Business Salarius Pharmaceuticals, Inc. (“Salarius” or the “Company”), together with its subsidiaries, Salarius Pharmaceuticals, LLC, Flex Innovation Group LLC, and TK Pharma, Inc., is a clinical-stage biotechnology company focused on developing effective epigenetic-based cancer treatments for indications with high unmet medical need. Salarius’ lead epigenetic enzyme technology was licensed from the University of Utah Research Foundation in 2011. The Company is located in Houston, Texas. Merger with Flex Pharma, Inc. On January 3, 2019, Flex Pharma, Inc. ("Flex Pharma"), Salarius Pharmaceuticals LLC ("Private Salarius") and Falcon Acquisition Sub, LLC (“Merger Sub”), a wholly owned subsidiary of Flex Pharma, entered into an Agreement and Plan of Merger (the “Merger Agreement”). Pursuant to the Merger Agreement, Merger Sub merged with and into Private Salarius, with Private Salarius continuing as a wholly owned subsidiary of Flex Pharma and the surviving company of the merger. The merger was completed on July 19, 2019. After the merger, Flex Pharma was renamed Salarius Pharmaceuticals, Inc. The merger was accounted for as a reverse acquisition with Private Salarius being deemed the acquiring company for accounting purposes. See Note 3.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States ("GAAP"). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standard Codification ("ASC") and Accounting Standards Update ("ASU") of the Financial Accounting Standards Board ("FASB"). The Company considered its going concern disclosure requirements in accordance with ASC 205-40-50. As of December 31, 2020, the Company had determined that substantial doubt about the Company's ability to continue as a going concern existed. Subsequently, the Company took into consideration of capital raise transactions conducted in the first quarter of 2021. As a result, substantial doubt about the Company’s ability to continue as a going concern for the 12 months from the date of issuance of these financial statements is alleviated. The Company is subject to risks common to companies in the biotechnology industry and the future success of the Company is dependent on its ability to successfully complete the development of, and obtain regulatory approval for, its product candidates, manage the growth of the organization, obtain additional financing necessary in order to develop, launch and commercialize its product candidates, and compete successfully with other companies in its industry. Private Salarius’ historical financial statements have replaced Flex Pharma’s historical consolidated financial statements with respect to periods prior to the completion of the merger with retroactive adjustments to Private Salarius' legal capital to reflect the legal capital of Flex Pharma. Flex Pharma (renamed Salarius Pharmaceuticals, Inc.) remains the continuing registrant and reporting company. Accordingly, the historical financial and operating data of Salarius Pharmaceuticals, Inc., which covers periods prior to the closing date of the merger, reflects the assets, liabilities and results of operations of Private Salarius and does not reflect the assets, liabilities and results of operations of Flex Pharma Inc. for the periods prior to July 19, 2019. The Company retrospectively adjusted its Statement of Changes in Stockholders’ Equity (Deficit) and the weighted average shares used in determining loss per common share to reflect the conversion of the outstanding common unit, profits interest common unit and Series A Preferred unit of Private Salarius that converted into shares of the Company’s common stock upon the merger, and to reflect the effect of the 25 to 1 reverse stock split of the Company’s common stock which occurred upon the merger. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America as defined by the FASB ASC requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Cash and Cash Equivalents Salarius considers all highly-liquid investments with original maturities of three months or less to be cash equivalents. At December 31, 2020 and 2019, Salarius held approximately $0 and $1.0 million, respectively, for funds received from Cancer Prevention and Research Institution of Texas ("CPRIT"). These funds are to be used for costs for allowable expenses, primarily research and development expenses. The grant has a mandatory fund matching requirement. Subject to CPRIT review, the Company believes that all matching fund requirements have been met at December 31, 2020. Intangibles Intangible assets that have finite useful lives are amortized over their useful lives, and are reviewed for impairment when warranted by economic conditions. Intangible assets are included in other assets in the Company's Consolidated Balance Sheets. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. During the twelve months ended December 31, 2020 and 2019 impairment charges related to long-lived assets was $0 and $0.11 million, respectively. Goodwill Goodwill is not amortized, but is tested at least annually for impairment at the reporting unit level. The Company has determined that the reporting unit is the single operating segment disclosed in its current financial statements. Impairment is the condition that exists when the carrying amount of goodwill exceeds its implied fair value. The first step in the impairment process is to determine the fair value of the reporting unit and then compare it to the carrying value, including goodwill. If the fair value exceeds the carrying value, no further action is required and no impairment loss is recognized. Additional impairment assessments may be performed on an interim basis if the Company encounters events or changes in circumstances that would indicate that, more likely than not, the carrying value of goodwill has been impaired. There was no impairment of goodwill in 2020 or 2019. Financial Instruments and Credit Risks Financial instruments that potentially subject the Company to credit risk include cash and cash equivalents and restricted cash. Cash is deposited in demand accounts in federally insured domestic institutions to minimize risk. Insurance is provided through the Federal Deposit Insurance Corporation (“FDIC”). Although the balances in these accounts exceed the federally insured limit from time to time, the Company has not incurred losses related to these deposits. Warrants In conjunction with the reverse merger transaction, the Company issued rights to receive warrants to purchase the Company’s common stock. The Company determines whether the warrants should be classified as a liability or equity. For warrants classified as liabilities, the Company estimates the fair value of the warrants at each reporting period using Level 3 inputs with changes in fair value recorded in the Statement of Operations within Change in fair value of warrant liability. The estimates in valuation models are based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk-free interest rate and the fair value of the common stock underlying the warrants, and could differ materially in the future. The Company will continue to adjust the fair value of the warrant liability at the end of each reporting period for changes in fair value from the prior period until the earlier of the exercise or expiration of the applicable warrant. For warrants classified as equity contracts, the Company allocates the transaction proceeds to the warrants and any other free-standing instruments issued in the transaction based on an allowable allocation method. Clinical Trial Accruals The Company’s preclinical and clinical trials are performed by third party contract research organizations (CROs) and/or clinical investigators, and clinical supplies are manufactured by contract manufacturing organizations (CMOs). Invoicing from these third parties may be monthly based upon services performed or based upon milestones achieved. The Company accrues these expenses based upon its assessment of the status of each clinical trial and the work completed, and upon information obtained from the CROs and CMOs. The Company’s estimates are dependent upon the timeliness and accuracy of data provided by the CROs and CMOs regarding the status and cost of the studies, and may not match the actual services performed by the organizations. This could result in adjustments to the Company’s research and development expenses in future periods. To date the Company has had no significant adjustments. Grants Receivable and Revenue Recognition Salarius’ source of revenue has been from a grant received from CPRIT. Grant revenue is recognized when qualifying costs are incurred and there is reasonable assurance that conditions of the grant have been met. Cash received from grants in advance of incurring qualifying costs is recorded as deferred revenue and recognized as revenue when qualifying costs are incurred. The Company records revenue and a corresponding grants receivable when qualifying costs are incurred before the grants are received. Research and Development Costs Research and development costs consist of expenses incurred in performing research and development activities, including pre-clinical studies and clinical trials. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract research services, the costs of laboratory equipment and facilities, license fees and other external costs. Research and development costs are expensed when incurred. Equity-Based Compensation Salarius measures equity-based compensation based on the grant date fair value of the awards and recognizes the associated expense in the financial statements over the requisite service period of the award, which is generally the vesting period. The Company uses the Black-Scholes option valuation model to estimate the fair value of the stock-based compensation and incentive units. Assumptions utilized in these models include expected volatility calculated based on implied volatility from traded stocks of peer companies, dividend yield and risk-free interest rate. Additionally, forfeitures are accounted for in compensation cost as they occur. Loss Per Share Basic net loss per share is calculated by dividing the net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Since the Company was in a loss position for all periods presented, diluted net loss per share is the same as basic net loss per share for all periods, as the inclusion of all potential common shares outstanding is anti-dilutive. The number of anti-dilutive shares, consisting of common shares underlying (i) common stock options, (ii) stock purchase warrants, (iii) unvested restricted stock and (iv) rights entitling holders to receive warrants to purchase the Company's common shares, which have been excluded from the computation of diluted loss per share, was 10,796,149 and 360,234 shares as of December 31, 2020 and 2019, respectively. Income Taxes Income taxes are recorded in accordance with FASB ASC Topic 740, Income Taxes ("ASC 740"), which provides for deferred taxes using an asset and liability approach. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The Company provides a valuation allowance against net deferred tax assets unless, based upon the available evidence, it is more likely than not that the deferred tax assets will be realized. The Company has evaluated available evidence and concluded that the Company may not realize the benefit of its deferred tax assets; therefore, a valuation allowance has been established for the full amount of the deferred tax assets. 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. As of December 31, 2020 and 2019, the Company did not have any significant uncertain tax positions and no interest or penalties have been charged. The Company's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company is subject to routine audits by taxing jurisdictions. Application of New Accounting Standards In January 2017, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other,” which is intended to simplify the subsequent measurement of goodwill. The pronouncement allows an entity, during its annual or interim goodwill impairment evaluation, to compare the fair value of a reporting unit with its carrying amount. An impairment charge is immediately recognized by which the carrying amount exceeds the fair value. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. The adoption of this ASU did not have an impact on the Company’s consolidated financial statements. Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740). The guidance eliminates certain exceptions for recognizing deferred taxes for investments, performing intra-period allocation and calculating income taxes in interim periods. This guidance also includes guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. ASU 2019-12 is effective for annual and interim periods in fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact this change will have on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires the measurement of all expected credit losses for financial assets including trade receivables held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Subsequent to the issuance of ASU 2016-13, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses. This ASU does not change the core principle of the guidance in ASU 2016-13, instead these amendments are intended to clarify and improve operability of certain topics included within the credit losses guidance. The FASB also subsequently issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Derivatives and Hedging (Topic 815), and Financial Instruments (Topic 842), which did not change the core principle of the guidance in ASU 2016-13 but clarified that expected recoveries of amounts previously written off and expected to be written off should be included in the valuation account and should not exceed amounts previously written off and expected to be written off. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019 for public business entities, excluding smaller reporting companies. Early adoption is permitted. As a smaller reporting company, the guidance will be effective for the Company during the first quarter of 2023. The Company is in the process of assessing the impact adoption will have on its consolidated financial statements.

REVERSE ACQUISITION AND DISPOSA

REVERSE ACQUISITION AND DISPOSAL	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
REVERSE ACQUISITION AND DISPOSAL	REVERSE ACQUISITION AND DISPOSAL Reverse Acquisition On January 3, 2019, Flex Pharma, Private Salarius and Merger Sub entered into the Merger Agreement. Pursuant to the Merger Agreement, Merger Sub merged with and into Private Salarius, with Private Salarius continuing as a wholly owned subsidiary of Flex Pharma and the surviving company of the merger. The merger was completed on July 19, 2019. After the merger, Flex Pharma was renamed Salarius Pharmaceuticals, Inc. The merger was accounted for as a reverse acquisition business acquisition with Private Salarius being deemed the acquiring company for accounting purposes. Private Salarius, as the accounting acquirer, recorded the assets acquired and liabilities assumed of Flex Pharma in the merger at their fair values as of the acquisition date. Private Salarius’ historical financial statements have replaced Flex Pharma’s historical consolidated financial statements with respect to periods prior to the completion of the merger with retroactive adjustments to Private Salarius' legal capital to reflect the legal capital of Flex Pharma. Flex Pharma (which was renamed Salarius Pharmaceuticals, Inc. in connection with the merger) remains the continuing registrant and reporting company. Private Salarius was determined to be the accounting acquirer based on the following facts and circumstances: (1) members of Private Salarius owned approximately 80.7% of the voting interests of the combined company immediately following the closing of the transaction; (2) the majority of the board of directors of the combined company was composed of directors designated by Private Salarius under the terms of the Merger Agreement; and (3) existing members of Private Salarius management became the management of the combined company. The business purposes of the merger included, among other purposes, obtaining the following potential advantages: (i) the combined organization’s resources would be immediately available to support Private Salarius’ research on Seclidemstat; and (ii) the public company status would allow the Company greater potential access to additional capital. At the closing of the merger, each outstanding common unit, profits interest common unit and Series A Preferred unit of Private Salarius converted into shares of the Company’s common stock (subject to the payment of cash in lieu of fractional shares and after giving effect to a 25 to 1 reverse stock split of the Company’s common stock) at the conversion ratio formulae described in the Merger Agreement. In addition, at the closing of the merger, the Company distributed one right per share of common stock to stockholders of record as of the close of business on July 18, 2019. Each right entitles such stockholders to receive a warrant to purchase shares of the Company’s common stock six months and one day following the closing date of the merger. See Note 7. The Company accounted for the acquisition as a reverse merger using purchase accounting. Because the merger qualifies as a reverse acquisition and given that Private Salarius was a private company at the time of the merger and therefore its value was not readily determinable, the fair value of the merger consideration was deemed to be equal to the sum of the quoted market capitalization of the Company at the merger date, the fair value of the Flex Pharma options that fully vested upon the merger together, and the fair value of the rights to receive warrants that were granted to the pre-merger Flex Pharma stockholders. Total purchase consideration is as follows: Flex Pharma market capitalization at closing $ 10,963,526 Fair value of rights to warrants 1,629,095 Fair value of Flex Pharma outstanding options on the merger date 132,227 Total purchase consideration $ 12,724,848 The Company recorded all tangible and intangible assets acquired and liabilities assumed at their preliminary estimated fair values on the merger date. The following represents the allocation of the estimated purchase consideration: Fair value of assets acquired Cash $ 5,405,826 Accounts receivable 15,168 Inventory 122,235 Prepaid expense and other current assets 106,319 Goodwill and intangibles 8,937,899 Total fair value of assets acquired 14,587,447 Fair value of liabilities assumed Accounts payable, accrued liabilities and other current liabilities 1,862,599 Total fair value of liabilities assumed 1,862,599 Net assets acquired $ 12,724,848 Disposition of HOTSHOT Business On July 24, 2019, the Company sold specified assets related to the HOTSHOT business to Cliff-Cartwright Corporation, an unrelated party, for cash consideration of $299,135. HOTSHOT was a consumer product that prevents and targets exercise-associated muscle cramps. The Company acquired the HOTSHOT business as a result of the reverse acquisition with Flex Pharma. The transaction was treated as a sale of a business. Details of the transaction are as follows: Proceeds from sale $ 299,135 Carrying value of tangible assets sold (135,544) Carrying value of goodwill and intangible assets sold (71,990) Cost incurred related to the sale (94,861) Liabilities transferred upon sale 3,260 Total gain on sale of HOTSHOT $ — The Company had no assets and liabilities presented as discontinued operations as of December 31, 2020 and 2019. Unaudited Pro Forma Disclosure The following unaudited pro forma financial information summarizes the results of operations for the twelve months ended December 31, 2020 and 2019 as if the merger and disposal described above had been completed as of January 1, 2019. Pro forma information primarily reflects adjustments relating to the reversal of transaction costs. Assuming that the merger had been completed as of January 1, 2019, the transaction costs would have been expensed in the prior period. Twelve Months Ended December 31 2020 2019 Revenues $ 5,233,301 $ 3,465,055 Net loss (7,352,254) (10,865,500) Net loss per share $ 0.50 $ (3.32)
REVERSE ACQUISITION AND DISPOSAL	REVERSE ACQUISITION AND DISPOSAL Reverse Acquisition On January 3, 2019, Flex Pharma, Private Salarius and Merger Sub entered into the Merger Agreement. Pursuant to the Merger Agreement, Merger Sub merged with and into Private Salarius, with Private Salarius continuing as a wholly owned subsidiary of Flex Pharma and the surviving company of the merger. The merger was completed on July 19, 2019. After the merger, Flex Pharma was renamed Salarius Pharmaceuticals, Inc. The merger was accounted for as a reverse acquisition business acquisition with Private Salarius being deemed the acquiring company for accounting purposes. Private Salarius, as the accounting acquirer, recorded the assets acquired and liabilities assumed of Flex Pharma in the merger at their fair values as of the acquisition date. Private Salarius’ historical financial statements have replaced Flex Pharma’s historical consolidated financial statements with respect to periods prior to the completion of the merger with retroactive adjustments to Private Salarius' legal capital to reflect the legal capital of Flex Pharma. Flex Pharma (which was renamed Salarius Pharmaceuticals, Inc. in connection with the merger) remains the continuing registrant and reporting company. Private Salarius was determined to be the accounting acquirer based on the following facts and circumstances: (1) members of Private Salarius owned approximately 80.7% of the voting interests of the combined company immediately following the closing of the transaction; (2) the majority of the board of directors of the combined company was composed of directors designated by Private Salarius under the terms of the Merger Agreement; and (3) existing members of Private Salarius management became the management of the combined company. The business purposes of the merger included, among other purposes, obtaining the following potential advantages: (i) the combined organization’s resources would be immediately available to support Private Salarius’ research on Seclidemstat; and (ii) the public company status would allow the Company greater potential access to additional capital. At the closing of the merger, each outstanding common unit, profits interest common unit and Series A Preferred unit of Private Salarius converted into shares of the Company’s common stock (subject to the payment of cash in lieu of fractional shares and after giving effect to a 25 to 1 reverse stock split of the Company’s common stock) at the conversion ratio formulae described in the Merger Agreement. In addition, at the closing of the merger, the Company distributed one right per share of common stock to stockholders of record as of the close of business on July 18, 2019. Each right entitles such stockholders to receive a warrant to purchase shares of the Company’s common stock six months and one day following the closing date of the merger. See Note 7. The Company accounted for the acquisition as a reverse merger using purchase accounting. Because the merger qualifies as a reverse acquisition and given that Private Salarius was a private company at the time of the merger and therefore its value was not readily determinable, the fair value of the merger consideration was deemed to be equal to the sum of the quoted market capitalization of the Company at the merger date, the fair value of the Flex Pharma options that fully vested upon the merger together, and the fair value of the rights to receive warrants that were granted to the pre-merger Flex Pharma stockholders. Total purchase consideration is as follows: Flex Pharma market capitalization at closing $ 10,963,526 Fair value of rights to warrants 1,629,095 Fair value of Flex Pharma outstanding options on the merger date 132,227 Total purchase consideration $ 12,724,848 The Company recorded all tangible and intangible assets acquired and liabilities assumed at their preliminary estimated fair values on the merger date. The following represents the allocation of the estimated purchase consideration: Fair value of assets acquired Cash $ 5,405,826 Accounts receivable 15,168 Inventory 122,235 Prepaid expense and other current assets 106,319 Goodwill and intangibles 8,937,899 Total fair value of assets acquired 14,587,447 Fair value of liabilities assumed Accounts payable, accrued liabilities and other current liabilities 1,862,599 Total fair value of liabilities assumed 1,862,599 Net assets acquired $ 12,724,848 Disposition of HOTSHOT Business On July 24, 2019, the Company sold specified assets related to the HOTSHOT business to Cliff-Cartwright Corporation, an unrelated party, for cash consideration of $299,135. HOTSHOT was a consumer product that prevents and targets exercise-associated muscle cramps. The Company acquired the HOTSHOT business as a result of the reverse acquisition with Flex Pharma. The transaction was treated as a sale of a business. Details of the transaction are as follows: Proceeds from sale $ 299,135 Carrying value of tangible assets sold (135,544) Carrying value of goodwill and intangible assets sold (71,990) Cost incurred related to the sale (94,861) Liabilities transferred upon sale 3,260 Total gain on sale of HOTSHOT $ — The Company had no assets and liabilities presented as discontinued operations as of December 31, 2020 and 2019. Unaudited Pro Forma Disclosure The following unaudited pro forma financial information summarizes the results of operations for the twelve months ended December 31, 2020 and 2019 as if the merger and disposal described above had been completed as of January 1, 2019. Pro forma information primarily reflects adjustments relating to the reversal of transaction costs. Assuming that the merger had been completed as of January 1, 2019, the transaction costs would have been expensed in the prior period. Twelve Months Ended December 31 2020 2019 Revenues $ 5,233,301 $ 3,465,055 Net loss (7,352,254) (10,865,500) Net loss per share $ 0.50 $ (3.32)

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets at December 31, 2020 and 2019 consisted of the following: December 31, 2020 December 31, 2019 Prepaid clinical trial expenses $ — $ 202,743 Prepaid insurance 684,268 617,096 Other prepaid and current assets 137,782 136,060 Total prepaid expenses and other current assets $ 822,050 $ 955,899

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES License Agreement with the University of Utah Research Foundation In 2011, the Company entered into a license agreement with the University of Utah, under which, the Company acquired license to LSD 1. In exchange for the license, the Company issued 2% equity ownership in the Company based on a fully diluted basis at the effective date of the agreement and subject to certain adjustments specified in the agreement, granted revenue sharing rights on any resulting products or processes to commence on first commercial sale, and milestone payments based upon regulatory approval of any resulting product or process as well as on the second anniversary of first commercial sale. Cancer Prevention and Research Institute of Texas In June 2016, the Company entered into a Cancer Research Grant Contract with CPRIT. Pursuant to the contract, CPRIT awarded the Company a grant up to $18.7 million to fund development of LSD 1 inhibitor. This is a 3-year grant award originally expired on May 31, 2019. The grant now expires on November 30, 2021 with extensions available. The Company will retain ownership over any intellectual property developed under the contract ("Project Result"). With respect to non-commercial use of any Project Result, the Company agreed to grant to CPRIT a nonexclusive, irrevocable, royalty-free, perpetual, worldwide license with right to sublicense any necessary additional intellectual property rights to exploit all Project Results by CPRIT, other governmental entities and agencies of the State of Texas, and private or independent institutions of higher education located in Texas, for education, research and other non-commercial purposes. The Company is obligated to make revenue-sharing payments to CPRIT with respect to net sales of any product covered by the contract, up to a maximum repayment of certain percentage of the aggregate amount paid to the Company by CPRIT under the CPRIT contract. The payments are determined as a percentage of net sales, which may be reduced if the Company is required to obtain a license from a third party to sell any such product. In addition, upon meeting the foregoing limitation on revenue-sharing payments, the Company agreed to make continued revenue-sharing payments to CPRIT of less than 1% of net sales. The CPRIT grant is subject to funding conditions including a matching funds requirement where the Company will match 50% of funding from the CPRIT grant. As of December 31, 2020, the Company has received an aggregate of $10.4 million from the CPRIT grant. A portion of the remaining $8.3 million CPRIT grant was for a castration-resistant prostate study (approximately $2.6 million). The Company elected not to pursue the study, and accordingly this amount will no longer be available. During the twelve months ended December 31, 2020, the Company received $0.8 million from CPRIT. At December 31, 2020 and December 31, 2019, the Company had grants receivable of $3.9 million and deferred revenue of $0.5 million, respectively, related to CPRIT contract. Lease Agreement The Company presently leases office space under operating lease agreements on a month to month basis.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, are used to measure fair value: Level 1-Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2-Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3-Significant unobservable inputs including Salarius’ own assumptions in determining fair value. The Company believes the recorded values of its financial instruments, including cash and cash equivalents, restricted cash, accounts payable and note payable approximate their fair values due to the short-term nature of these instruments. The following table sets forth a summary of changes in the fair value of Level 3 liabilities, the warrants associated with the Flex Pharma merger measured at fair value on a recurring basis for the twelve months ended December 31, 2020 and 2019: Description Balance at December 31, 2019 Change in Fair Value Balance at December 31, 2020 Warrant liability $ 317,762 $ (258,551) $ 59,211

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY The accompanying consolidated statements of stockholders' equity (deficit) and the footnotes to the financial statements have been retroactively adjusted to reflect the equity structure (that is, the number and type of equity interests issued) of Flex Pharma, the legal parent (accounting acquiree) of the merger closed on July 19, 2019, with the retained earnings and other equity balances of Private Salarius before the merger. Private Salarius' equity was restated using the exchange ratio established in the merger agreement to reflect the number of shares of Flex Pharma issued in the merger. Concurrent with the merger, the Company's shareholders approved a 1-for-25 reverse stock split, which became effective on July 19, 2019. Total shares owned by Flex Pharma pre-merger shareholders (net of fractional shares paid in cash) was 722,568 shares after reverse stock-split. Preferred Stock and Common Stock On February 11, 2020, the Company completed a public offering with total gross proceeds of approximately $11.0 million, which includes the full exercise of the underwriter's over-allotment option to purchase an additional 1,252,173 shares and warrants prior to deducting underwriting discounts and commissions and offering expenses payable by Salarius (the “February Offering”). The February Offering was comprised of 7,101,307 Class A units, priced at a public offering price of $1.15 per unit, with each unit consisting of one share of common stock and a five-year warrant to purchase one share of common stock at an exercise price of $1.15 per share, and 1,246,519 Class B units, priced at a public offering price of $1.15 per unit, with each unit consisting of one share of Series A convertible preferred stock and a five-year warrant to purchase one share of common stock with and exercise price of $1.15 per share. A total of 8,343,480 shares of common stock, 1,246,519 shares of Series A convertible preferred stock, and warrants to purchase up to 9,599,999 shares of common stock were issued in the offering, including the full exercise of the over-allotment option. The convertible preferred stock issued in this transaction includes a beneficial ownership limitation on conversion, but has no dividend rights (except to the extent that dividends are also paid on the common stock). The conversion price of the Series A convertible preferred stock issued in the February Offering as well as the exercise price of the warrants are fixed and do not contain any variable pricing features or any price based anti-dilutive features. As of December 31, 2020, all 1,246,519 shares of Series A convertible preferred stock were converted to common stock. On August 3, 2020, the Company completed a public offering with total gross proceeds of approximately $6.2 million, which includes the full exercise of the underwriter's over-allotment option to purchase an additional 669,181 shares prior to deducting underwriting discounts and commissions and offering expenses payable by Salarius. A total of 5,130,390 common shares of common stock were issued in the offering, priced at a public offering price of $1.20 per share. During the twelve months ended December 31, 2019, the Company issued 960,489 common shares (4,035 Series A preferred units and 350 profit interest units of Private Salarius) for $4,377,591 (net of offering cost of $10,617) of which, $2,869,412 was received in advance, in 2018. On October 24, 2019, the Company entered into a common stock purchase agreement with Aspire Capital, which provides that the Company may offer under certain conditions to Aspire Capital up to an aggregate of $10.9 million of the Company's common shares over 30 months. During the twelve months ended December 31, 2019, the Company issued 750,861 common shares to Aspire Capital, 101,810 shares were issued in consideration for entering into the purchase agreement, and 649,051 shares were issued for cash. The agreement with Aspire Capital expired during the year ended December 31, 2020. Right to Warrants Pursuant to the Merger Agreement (see Note 3), Flex Pharma distributed one right per share of common stock to stockholders of record as of the close of business on July 18, 2019. Each right entitled such stockholders to receive a warrant to purchase the Company's common shares on January 20, 2020. These warrants are exercisable, in the aggregate, into 142,711 shares of the Company's common stock with a 5-year term from January 20, 2020, and an exercise price of $15.17 per share. The warrants are subject to a cashless exercise, at the option of the Company, at the closing of an issuance and sale of the Company’s common stock in certain qualified financing, upon the closing of which the holders of warrants shall be entitled to receive a number of shares of common stock equal to the greater of two formulae defined by the Merger Agreement, which are based on the volume weighted average price of the Company's common stock during the 10 consecutive trading days ending on the trading day immediately preceding the date of exercise. As a result, the warrants have been classified as a liability. The Company accounted for these warrants at fair value using Level 3 inputs. The Company determined the fair value of this warrant liability using a Black-Scholes valuation model as the Company believes the value will closely approximate the value from the binomial asset pricing model that consisted of a conditional probability weighted expected return method that values the Company’s equity securities assuming various possible future outcomes to estimate the allocation of value within one or more of the scenarios. Using this method, unobservable inputs included the Company’s equity value, expected timing of possible outcomes, risk free interest rates and stock price volatility. Variables used in the Black-Scholes model are as follows: December 31, 2020 December 31, 2019 Discount rate 0.27 % 1.69 % Expected life (years) 4.06 years 5.06 years Expected volatility 130.56 % 105.93 % Expected dividend — % — % Wedbush Warrant On July 19, 2019, upon the closing of the merger, the Company elected to issue warrants to purchase 42,928 common shares to Wedbush Securities Inc. ("Wedbush") to satisfy $0.5 million of the $1.0 million success fee payable to Wedbush at the closing of the merger. The remaining $0.5 million success fee was paid in cash. These warrants have an exercise price of $18.90 and a 5-year term. As of December 31, 2020, all warrants issued to Wedbush were outstanding. Warrant Inducement As discussed above, on February 11, 2020, the Company consummated a registered public offering of 7,101,307 Class A units and 1,246,519 Class B units. Each Class A unit consisted of one share of the Company’s common stock, par value $0.0001 per share, and a five-year warrant to purchase one share of common stock at an exercise price of $1.15 per share (each a “Warrant”). Each Class B unit consisted of one share of the Company’s Series A convertible preferred stock, par value $0.0001 per share, and a Warrant. On December 11, 2020, the Company entered into warrant exercise inducement offer letters (“Inducement Letters”) with certain holders of 3,964,065 Warrants (collectively, the “Exercising Holders”) pursuant to which such holders agreed to exercise on December 11, 2020 for cash, their Warrants to purchase 3,964,065 shares of Common Stock in exchange for the Company’s agreement to (i) lower the exercise price of the Warrants held by the Exercising Holders to $0.90 and (ii) issue new warrants (the “Inducement Warrants”) to purchase up to 3,964,065 shares of Common Stock. Each Inducement Warrant is exercisable at a price per share of $1.182 and expires on June 11, 2026. This issuance of Inducement Warrants increased the fair value to these certain warrant holders by approximately $0.4 million. This increase in fair value is recorded in additional paid in capital due to the accumulated deficit and it increased the net loss available to common shareholders on the consolidated statement of operations.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION Equity Incentive Plans The Company has granted options to employees, directors, and consultants under the Salarius Pharmaceuticals, Inc. 2015 Equity Incentive Plan as amended and restated effective as of June 19, 2020 (the "2015 Plan"). On July 19, 2019, the Company completed a merger with Flex Pharma and Flex Pharma had fully vested options to purchase 90,279 common shares outstanding as of the date of the merger and 34,385 of these options continue to be exercisable as of December 31, 2020. The 2015 Plan provides for the grant of incentive stock options ("ISOs"), nonstatutory stock options, restricted stock awards, restricted stock units, stock appreciation rights, performance-based stock awards and other stock-based awards. Additionally, the 2015 Plan provides for the grant of performance-based cash awards. ISOs may be granted only to the Company's employees. All other awards may be granted to the Company's employees, including officers, and to non-employee directors and consultants. As of December 31, 2020 and 2019, there were 108,348 and 25,145 shares, respectively, remaining available for the grant of stock awards under the 2015 Plan. The Company has awarded stock options to its employees, directors and consultants, pursuant to the plan described above. Stock options generally vest over one The fair value of the option grants of $1,196,469 and $642,360 respectively, has been estimated with the following assumptions for the year ended December 31, 2020 and 2019: 2020 2019 Risk-free interest rate 0.28%-0.555% 1.61% Volatility 113.17%-130.41% 103.70% Expected life (years) 5-6 years 5.79 Expected dividend yield 0.00% 0.00% The following table summarizes stock option activity for employees and non-employees for the twelve months ended December 31, 2020 and 2019: Shares Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2018 — $ — — $ — Granted 101,082 8.00 Options from Flex Pharma 65,151 75.42 Exercised — — Forfeited — — Expired — — Outstanding at December 31, 2019 166,233 $ 34.42 6.53 $ — Exercisable at December 31, 2019 84,321 $ 60.09 3.45 $ — Granted 1,468,118 $ 0.93 Exercised — Forfeited 36,613 Expired 33,766 Outstanding at December 31, 2020 1,563,972 $ 2.44 4.87 $ 175,770 Exercisable at December 31, 2020 73,975 $ 35.89 5.41 $ — As of December 31, 2020 and 2019, there was approximately $1.34 million and $0.5 million of total unrecognized compensation cost, respectively, related to unvested stock options. Total unrecognized compensation cost will be adjusted for future changes in employee and non-employee forfeitures, if any. The Company expects to recognize that cost over a remaining weighted-average period of 1.65 years. On September 10, 2019, the Company granted 101,082 stock options, in the aggregate, to certain employees, directors and a consultant. These awards vest monthly over 3 months to 4 years as continuous services are provided, and expense is being recognized over this period. During the year ended December 31, 2020, the Company granted 1,468,118 stock options, in the aggregate, to certain employees and directors. These award vest over 4.5 months to 4 years as continuous services are provided, and expense is being recognized over this period. During the year ended December 31, 2020, the Company granted 24,145 shares common stock to its Employee Stock Purchase Plan ("ESPP") participants. Fair value of the grants are valued using the Black-Scholes option pricing model and compensation cost is recognized based on the resulting value over the derived service period.

INCOME TAX

INCOME TAX	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAX	INCOME TAX The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized differently in the financial statements and tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement carrying amounts and tax bases of liabilities and assets using enacted tax rates and laws in effect in the years in which the differences are expected to reverse. Deferred tax assets are evaluated for realization based on a more-likely-than-not criteria in determining if a valuation allowance should be provided. The ultimate realization of deferred tax assets is dependent upon the Company attaining future taxable income during periods in which those temporary differences become deductible. As of December 31, 2020 and 2019, the Company had deferred tax assets of $2.8 million and $1 million, respectively, against which a full valuation allowance had been recorded. The change in the valuation allowance for the year ended December 31, 2020 was an increase of $1.9 million. The increase in the valuation allowance for the year ended December 31, 2020 was mainly attributable to increases in net operating losses and capitalization of research and development expenses, which resulted in an increase in the deferred tax assets with a corresponding valuation allowance. Significant components of the Company’s deferred tax assets at December 31, 2020 and 2019 were as follows: December 31 2020 2019 Capitalized R&D Expenses $ 1,725,015 $ — Other Deferred Items 87,432 (5,174) Stock Compensation 28,048 70,108 Net Operating Loss - US 673,186 887,947 R&D Credits 325,329 — Net deferred tax assets (liabilities) $ 2,839,010 $ 952,881 Valuation Allowance (2,839,010) (952,881) Net deferred tax assets (liabilities) $ — $ — A reconciliation of the federal statutory tax rate and the effective tax rates for the year ended December 31, 2020 is as follows: December 31 2020 2019 Federal Tax at Statutory Rate 21.00 % 21.00 % Permanent 0.63 % (8.69) % Change in VA (25.65) % (12.31) % Other items (0.40) % — % R&D Credit 4.42 % — % Effective Tax Rate — % — % The Company had approximately $3.2 million and $4.2 million of Federal gross net operating loss (“NOL”) carryforwards as of December 31, 2020 and 2019, respectively. Due to the change in ownership provisions of the Internal Revenue Code, the availability of the Company’s net operating loss carry forwards and R&D credits could be subject to annual limitations against taxable income in future periods, which could substantially limit the eventual

PAYROLL PROTECTION PROGRAM

PAYROLL PROTECTION PROGRAM	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
PAYROLL PROTECTION PROGRAM	PAYROLL PROTECTION PROGRAM On April 13, 2020, the Company was granted a loan of approximately $0.18 million from the Paycheck Protection Program ("PPP") established under the Coronavirus Aid, Relief and Economic Security Act ("CARES Act"). The loan matures on April 13, 2022 and bears interest at a rate of 1% per annum. Under the terms of the PPP, certain amounts of the loan may be forgiven if they are used for qualifying expenses as described in the CARES Act. The proceeds of the loan were used in full to pay for payroll disbursement after it was received, which the Company expects to comply with the PPP eligibility and loan forgiveness criteria. As such, the loan was accounted as a government grant. The Company will continually reassess its ability to meet the forgiveness conditions, and it may have to reverse income if it can no longer support a conclusion that it expects to meet the conditions. On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. We continue to examine the impact of the CARES Act. Currently, we are unable to determine the impact, if any, that the CARES Act will have on our business, financial condition or results of operations.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On March 8, 2021 the Company completed a public offering of common stock with total gross proceeds of $23 million and issued 16,806,722 shares of common stock. On February 11, 2021, the Company completed an At the Marketing Offering ("ATM offering") with total gross proceeds of approximately $6.3 million. Total common shares sold in the ATM offering were 2,820,490, with an average selling price of $2.24 per share.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States ("GAAP"). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standard Codification ("ASC") and Accounting Standards Update ("ASU") of the Financial Accounting Standards Board ("FASB"). The Company considered its going concern disclosure requirements in accordance with ASC 205-40-50. As of December 31, 2020, the Company had determined that substantial doubt about the Company's ability to continue as a going concern existed. Subsequently, the Company took into consideration of capital raise transactions conducted in the first quarter of 2021. As a result, substantial doubt about the Company’s ability to continue as a going concern for the 12 months from the date of issuance of these financial statements is alleviated. The Company is subject to risks common to companies in the biotechnology industry and the future success of the Company is dependent on its ability to successfully complete the development of, and obtain regulatory approval for, its product candidates, manage the growth of the organization, obtain additional financing necessary in order to develop, launch and commercialize its product candidates, and compete successfully with other companies in its industry. Private Salarius’ historical financial statements have replaced Flex Pharma’s historical consolidated financial statements with respect to periods prior to the completion of the merger with retroactive adjustments to Private Salarius' legal capital to reflect the legal capital of Flex Pharma. Flex Pharma (renamed Salarius Pharmaceuticals, Inc.) remains the continuing registrant and reporting company. Accordingly, the historical financial and operating data of Salarius Pharmaceuticals, Inc., which covers periods prior to the closing date of the merger, reflects the assets, liabilities and results of operations of Private Salarius and does not reflect the assets, liabilities and results of operations of Flex Pharma Inc. for the periods prior to July 19, 2019. The Company retrospectively adjusted its Statement of Changes in Stockholders’ Equity (Deficit) and the weighted average shares used in determining loss per common share to reflect the conversion of the outstanding common unit, profits interest common unit and Series A Preferred unit of Private Salarius that converted into shares of the Company’s common stock upon the merger, and to reflect the effect of the 25 to 1 reverse stock split of the Company’s common stock which occurred upon the merger.
Principles of Consolidation	Principles of ConsolidationThe consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America as defined by the FASB ASC requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Salarius considers all highly-liquid investments with original maturities of three months or less to be cash equivalents.
Intangibles	Intangibles Intangible assets that have finite useful lives are amortized over their useful lives, and are reviewed for impairment when warranted by economic conditions. Intangible assets are included in other assets in the Company's Consolidated Balance Sheets.
Impairment of Long-Lived Assets	Impairment of Long-Lived AssetsLong-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset.
Goodwill	Goodwill Goodwill is not amortized, but is tested at least annually for impairment at the reporting unit level. The Company has determined that the reporting unit is the single operating segment disclosed in its current financial statements.
Financial Instruments and Credit Risks	Financial Instruments and Credit Risks Financial instruments that potentially subject the Company to credit risk include cash and cash equivalents and restricted cash. Cash is deposited in demand accounts in federally insured domestic institutions to minimize risk. Insurance is provided through the Federal Deposit Insurance Corporation (“FDIC”). Although the balances in these accounts exceed the federally insured limit from time to time, the Company has not incurred losses related to these deposits.
Warrants	Warrants In conjunction with the reverse merger transaction, the Company issued rights to receive warrants to purchase the Company’s common stock. The Company determines whether the warrants should be classified as a liability or equity. For warrants classified as liabilities, the Company estimates the fair value of the warrants at each reporting
Grants Receivable and Revenue Recognition	Grants Receivable and Revenue RecognitionSalarius’ source of revenue has been from a grant received from CPRIT. Grant revenue is recognized when qualifying costs are incurred and there is reasonable assurance that conditions of the grant have been met. Cash received from grants in advance of incurring qualifying costs is recorded as deferred revenue and recognized as revenue when qualifying costs are incurred. The Company records revenue and a corresponding grants receivable when qualifying costs are incurred before the grants are received.
Research and Development Costs	Research and Development Costs Research and development costs consist of expenses incurred in performing research and development activities, including pre-clinical studies and clinical trials. Research and development costs include salaries and personnel-related costs, consulting fees, fees paid for contract research services, the costs of laboratory equipment and facilities, license fees and other external costs. Research and development costs are expensed when incurred.
Equity-Based Compensation	Equity-Based Compensation Salarius measures equity-based compensation based on the grant date fair value of the awards and recognizes the associated expense in the financial statements over the requisite service period of the award, which is generally the vesting period.
Loss Per Share	Loss Per Share Basic net loss per share is calculated by dividing the net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Since the Company was in a loss position for all periods presented, diluted net loss per share is the same as basic net loss per share for all periods, as the inclusion of all potential common shares outstanding is anti-dilutive.
Income Taxes	Income Taxes Income taxes are recorded in accordance with FASB ASC Topic 740, Income Taxes ("ASC 740"), which provides for deferred taxes using an asset and liability approach. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The Company provides a valuation allowance against net deferred tax assets unless, based upon the available evidence, it is more likely than not that the deferred tax assets will be realized. The Company has evaluated available evidence and concluded that the Company may not realize the benefit of its deferred tax assets; therefore, a valuation allowance has been established for the full amount of the deferred tax assets. 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. As of December 31, 2020 and 2019, the Company did not have any significant uncertain tax positions and no interest or penalties have been charged. The Company's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company is subject to routine audits by taxing jurisdictions.
Application of New Accounting Standards and Pronouncements Not Yet Adopted	Application of New Accounting Standards In January 2017, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other,” which is intended to simplify the subsequent measurement of goodwill. The pronouncement allows an entity, during its annual or interim goodwill impairment evaluation, to compare the fair value of a reporting unit with its carrying amount. An impairment charge is immediately recognized by which the carrying amount exceeds the fair value. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. The adoption of this ASU did not have an impact on the Company’s consolidated financial statements. Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740). The guidance eliminates certain exceptions for recognizing deferred taxes for investments, performing intra-period allocation and calculating income taxes in interim periods. This guidance also includes guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. ASU 2019-12 is effective for annual and interim periods in fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact this change will have on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires the measurement of all expected credit losses for financial assets including trade receivables held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Subsequent to the issuance of ASU 2016-13, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses. This ASU does not change the core principle of the guidance in ASU 2016-13, instead these amendments are intended to clarify and improve operability of certain topics included within the credit losses guidance. The FASB also subsequently issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Derivatives and Hedging (Topic 815), and Financial Instruments (Topic 842), which did not change the core principle of the guidance in ASU 2016-13 but clarified that expected recoveries of amounts previously written off and expected to be written off should be included in the valuation account and should not exceed amounts previously written off and expected to be written off. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019 for public business entities, excluding smaller reporting companies. Early adoption is permitted. As a smaller reporting company, the guidance will be effective for the Company during the first quarter of 2023. The Company is in the process of assessing the impact adoption will have on its consolidated financial statements.
Fair Value of Financial Instruments	Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, are used to measure fair value: Level 1-Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2-Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3-Significant unobservable inputs including Salarius’ own assumptions in determining fair value. The Company believes the recorded values of its financial instruments, including cash and cash equivalents, restricted cash, accounts payable and note payable approximate their fair values due to the short-term nature of these instruments.

REVERSE ACQUISITION AND DISPO_2

REVERSE ACQUISITION AND DISPOSAL (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Summary of Purchase Consideration	Total purchase consideration is as follows: Flex Pharma market capitalization at closing $ 10,963,526 Fair value of rights to warrants 1,629,095 Fair value of Flex Pharma outstanding options on the merger date 132,227 Total purchase consideration $ 12,724,848
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following represents the allocation of the estimated purchase consideration: Fair value of assets acquired Cash $ 5,405,826 Accounts receivable 15,168 Inventory 122,235 Prepaid expense and other current assets 106,319 Goodwill and intangibles 8,937,899 Total fair value of assets acquired 14,587,447 Fair value of liabilities assumed Accounts payable, accrued liabilities and other current liabilities 1,862,599 Total fair value of liabilities assumed 1,862,599 Net assets acquired $ 12,724,848
Summary of Sale of Business	Details of the transaction are as follows: Proceeds from sale $ 299,135 Carrying value of tangible assets sold (135,544) Carrying value of goodwill and intangible assets sold (71,990) Cost incurred related to the sale (94,861) Liabilities transferred upon sale 3,260 Total gain on sale of HOTSHOT $ —
Schedule of Unaudited Pro Forma Results	The following unaudited pro forma financial information summarizes the results of operations for the twelve months ended December 31, 2020 and 2019 as if the merger and disposal described above had been completed as of January 1, 2019. Pro forma information primarily reflects adjustments relating to the reversal of transaction costs. Assuming that the merger had been completed as of January 1, 2019, the transaction costs would have been expensed in the prior period. Twelve Months Ended December 31 2020 2019 Revenues $ 5,233,301 $ 3,465,055 Net loss (7,352,254) (10,865,500) Net loss per share $ 0.50 $ (3.32)

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets at December 31, 2020 and 2019 consisted of the following: December 31, 2020 December 31, 2019 Prepaid clinical trial expenses $ — $ 202,743 Prepaid insurance 684,268 617,096 Other prepaid and current assets 137,782 136,060 Total prepaid expenses and other current assets $ 822,050 $ 955,899

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Summary of Changes in Fair Value of Level 3 Liabilities	The following table sets forth a summary of changes in the fair value of Level 3 liabilities, the warrants associated with the Flex Pharma merger measured at fair value on a recurring basis for the twelve months ended December 31, 2020 and 2019: Description Balance at December 31, 2019 Change in Fair Value Balance at December 31, 2020 Warrant liability $ 317,762 $ (258,551) $ 59,211

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Variables used in Black-Scholes Model	Variables used in the Black-Scholes model are as follows: December 31, 2020 December 31, 2019 Discount rate 0.27 % 1.69 % Expected life (years) 4.06 years 5.06 years Expected volatility 130.56 % 105.93 % Expected dividend — % — %

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Fair Value Assumptions	The fair value of the option grants of $1,196,469 and $642,360 respectively, has been estimated with the following assumptions for the year ended December 31, 2020 and 2019: 2020 2019 Risk-free interest rate 0.28%-0.555% 1.61% Volatility 113.17%-130.41% 103.70% Expected life (years) 5-6 years 5.79 Expected dividend yield 0.00% 0.00%
Summary of Stock Option Activity	The following table summarizes stock option activity for employees and non-employees for the twelve months ended December 31, 2020 and 2019: Shares Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2018 — $ — — $ — Granted 101,082 8.00 Options from Flex Pharma 65,151 75.42 Exercised — — Forfeited — — Expired — — Outstanding at December 31, 2019 166,233 $ 34.42 6.53 $ — Exercisable at December 31, 2019 84,321 $ 60.09 3.45 $ — Granted 1,468,118 $ 0.93 Exercised — Forfeited 36,613 Expired 33,766 Outstanding at December 31, 2020 1,563,972 $ 2.44 4.87 $ 175,770 Exercisable at December 31, 2020 73,975 $ 35.89 5.41 $ —

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets at December 31, 2020 and 2019 were as follows: December 31 2020 2019 Capitalized R&D Expenses $ 1,725,015 $ — Other Deferred Items 87,432 (5,174) Stock Compensation 28,048 70,108 Net Operating Loss - US 673,186 887,947 R&D Credits 325,329 — Net deferred tax assets (liabilities) $ 2,839,010 $ 952,881 Valuation Allowance (2,839,010) (952,881) Net deferred tax assets (liabilities) $ — $ —
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the federal statutory tax rate and the effective tax rates for the year ended December 31, 2020 is as follows: December 31 2020 2019 Federal Tax at Statutory Rate 21.00 % 21.00 % Permanent 0.63 % (8.69) % Change in VA (25.65) % (12.31) % Other items (0.40) % — % R&D Credit 4.42 % — % Effective Tax Rate — % — %

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details)	Jul. 19, 2019	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares
Class of Stock [Line Items]
Grant contract amount		$ 0	$ 1,000,000
Impairment charges of long-lived assets		0	110,000
Goodwill impairment		$ 0	$ 0
Antidilutive securities excluded from computation of earnings per share (shares) | shares		10,796,149	360,234
Common Stock
Class of Stock [Line Items]
Conversion ratio	0.04

REVERSE ACQUISITION AND DISPO_3

REVERSE ACQUISITION AND DISPOSAL - Narrative (Details)	Jul. 24, 2019USD ($)	Jul. 19, 2019	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jul. 18, 2019shares
Business Acquisition [Line Items]
Period until the right becomes exercisable		6 months
Proceeds from sale			$ 0	$ 204,274
Disposed of by Sale | HotShot Business
Business Acquisition [Line Items]
Proceeds from sale	$ 299,135
Common Stock
Business Acquisition [Line Items]
Conversion ratio		0.04
Number of rights per share | shares					1
Flex Pharma
Business Acquisition [Line Items]
Voting interest acquired		80.70%

REVERSE ACQUISITION AND DISPO_4

REVERSE ACQUISITION AND DISPOSAL - Summary of Purchase Consideration (Details) - Flex Pharma	Jul. 19, 2019USD ($)
Business Acquisition [Line Items]
Flex Pharma market capitalization at closing	$ 10,963,526
Fair value of rights to warrants	1,629,095
Fair value of Flex Pharma outstanding options on the merger date	132,227
Total purchase consideration	$ 12,724,848

REVERSE ACQUISITION AND DISPO_5

REVERSE ACQUISITION AND DISPOSAL - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - Flex Pharma	Jul. 19, 2019USD ($)
Business Acquisition [Line Items]
Cash	$ 5,405,826
Accounts receivable	15,168
Inventory	122,235
Prepaid expense and other current assets	106,319
Goodwill and intangibles	8,937,899
Fair value of assets acquired	14,587,447
Accounts payable, accrued liabilities and other current liabilities	1,862,599
Fair value of liabilities assumed	1,862,599
Net assets acquired	$ 12,724,848

REVERSE ACQUISITION AND DISPO_6

REVERSE ACQUISITION AND DISPOSAL - Summary of Sale of Business (Details) - USD ($)	Jul. 24, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale		$ 0	$ 204,274
Disposed of by Sale | HotShot Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale	$ 299,135
Carrying value of tangible assets sold	(135,544)
Carrying value of goodwill and intangible assets sold	(71,990)
Cost incurred related to the sale	(94,861)
Liabilities transferred upon sale	3,260
Total gain on sale of HOTSHOT	$ 0

REVERSE ACQUISITION AND DISPO_7

REVERSE ACQUISITION AND DISPOSAL - Schedule of Unaudited Pro Forma Results (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Combinations [Abstract]
Revenues	$ 5,233,301	$ 3,465,055
Net loss	$ (7,352,254)	$ (10,865,500)
Net loss per share (usd per share)	$ 0.50	$ (3.32)

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid clinical trial expenses	$ 0	$ 202,743
Prepaid insurance	684,268	617,096
Other prepaid and current assets	137,782	136,060
Total prepaid expenses and other current assets	$ 822,050	$ 955,899

PREPAID EXPENSES AND OTHER CU_4

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Narrative (Details) - USD ($)	Dec. 31, 2020	Jul. 31, 2020	Dec. 31, 2019	Jul. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Principal amount		$ 900,000		$ 900,000
Interest rate		2.49%		4.61%
Note payable	$ 477,028		$ 502,332

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2011
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Award amount	$ 18,700,000
Award term	3 years
Continued payments, percent of net sales		1.00%
Matching funds requirement		50.00%
Aggregate amount received		$ 10,400,000
Current funding available		8,300,000
Current funding received		800,000
Grants receivable from CPRIT		3,855,996	$ 0
Deferred revenue		0	$ 541,701
Castration-resistant prostate study
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Current funding available		$ 2,600,000
University of Utah Research Foundation
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage by noncontrolling Owner				2.00%

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Changes in Fair Value of Level 3 Liabilities (Details) - Recurring - Level 3	12 Months Ended
	Dec. 31, 2020USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at December 31, 2019	$ 317,762
Change in Fair Value	(258,551)
Balance at December 31, 2020	$ 59,211

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details)	Aug. 03, 2020USD ($)$ / sharesshares	Feb. 11, 2020USD ($)$ / sharesshares	Oct. 24, 2019USD ($)	Jul. 19, 2019USD ($)$ / sharesshares	Jul. 18, 2019tradingDay$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)	Dec. 11, 2020$ / sharesshares
Class of Stock [Line Items]
Common stock, shares outstanding						23,808,546	4,511,174
Shares issued, value | $	$ 6,200,000					$ 14,798,944	$ 6,932,336
Warrants term					5 years	4 years 21 days	5 years 21 days
Exercise price (usd per share) | $ / shares					$ 15.17				$ 1.182
Number of shares called by warrants					142,711				3,964,065
Offering costs | $						$ 10,617
Amount received from issuance | $								$ 2,869,412
Consecutive trading days | tradingDay					10
Common stock, par value (usd per share) | $ / shares		$ 0.0001				$ 0.0001	$ 0.0001
Preferred stock, par value (usd per share) | $ / shares		$ 0.0001				$ 0.0001	$ 0.0001
Increase in fair value for warrants modification | $						$ 396,407	$ 0
Minimum
Class of Stock [Line Items]
Exercise price (usd per share) | $ / shares									$ 0.90
Over-Allotment Option
Class of Stock [Line Items]
Shares issued, value | $		$ 11,000,000
Shares issued	669,181	1,252,173
Stock Purchase Agreement
Class of Stock [Line Items]
Aggregate amount issuable | $			$ 10,900,000
Agreement term			30 months
Common Stock
Class of Stock [Line Items]
Conversion ratio				0.04
Shares issued, value | $						$ 1,348	$ 170
Shares issued	5,130,390	8,343,480				13,483,870	1,711,350
Price per share (usd per share) | $ / shares	$ 1.20
Number of rights per share					1
Number of shares called by warrants		9,599,999
Shares issued upon conversion						1,246,519
Common Stock | Over-Allotment Option
Class of Stock [Line Items]
Warrants term		5 years
Common Stock | Stock Purchase Agreement
Class of Stock [Line Items]
Shares issued						750,861
Common Stock | Stock Purchase Agreement, Commitment Fee
Class of Stock [Line Items]
Shares issued						101,810
Common Stock | Stock Purchase Agreement, Cash
Class of Stock [Line Items]
Shares issued						649,051
Common Stock | Flex Pharma
Class of Stock [Line Items]
Common stock, shares outstanding				722,568
Preferred Stock
Class of Stock [Line Items]
Shares issued, value | $						$ 125
Shares issued						1,246,519
Shares issued upon conversion						(1,246,519)
Series A Preferred | Common Stock
Class of Stock [Line Items]
Shares issued						4,035
Series A Preferred | Preferred Stock
Class of Stock [Line Items]
Shares issued		1,246,519
Shares issued upon conversion						1,246,519
Common Units | Common Stock
Class of Stock [Line Items]
Shares issued, value | $						$ 4,377,591
Shares issued						960,489
Profit Interest Units | Common Stock
Class of Stock [Line Items]
Shares issued						350
Class A | Common Stock | Over-Allotment Option
Class of Stock [Line Items]
Number of shares in transaction		7,101,307
Price per share (usd per share) | $ / shares		$ 1.15
Number of rights per share		1
Warrants term		5 years
Exercise price (usd per share) | $ / shares		$ 1.15
Class B | Common Stock | Over-Allotment Option
Class of Stock [Line Items]
Price per share (usd per share) | $ / shares		$ 1.15
Number of rights per share		1
Warrants term		5 years
Exercise price (usd per share) | $ / shares		$ 1.15
Class B | Preferred Stock | Over-Allotment Option
Class of Stock [Line Items]
Number of shares in transaction		1,246,519
Wedbush | Satisfy success fee
Class of Stock [Line Items]
Warrants term				5 years
Exercise price (usd per share) | $ / shares				$ 18.90
Number of shares called by warrants				42,928
Warrant value | $				$ 500,000
Due to related party | $				1,000,000
Cash payment to related party | $				$ 500,000

STOCKHOLDERS' EQUITY - Schedule

STOCKHOLDERS' EQUITY - Schedule of Variables used in Black-Scholes Model (Details)	Dec. 31, 2020	Dec. 31, 2019	Jul. 18, 2019
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected life (years)	4 years 21 days	5 years 21 days	5 years
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0.27%	1.69%
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	130.56%	105.93%
Expected dividend
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0.00%	0.00%

EQUITY-BASED COMPENSATION - Nar

EQUITY-BASED COMPENSATION - Narrative (Details) - USD ($)	Sep. 10, 2019	Jul. 19, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding			1,563,972	166,233	0
Fair value			$ 1,196,469	$ 642,360
Unrecognized compensation cost, options			$ 1,340,000	$ 500,000
Number of stock options granted (shares)	101,082		1,468,118	101,082
Flex Pharma
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding		90,279	34,385
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, contractual term		10 years
Unrecognized compensation cost, recognition period			1 year 7 months 24 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 months
Minimum | Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year	4 months 15 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Maximum | Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years	4 years
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares remaining available for grant of stock awards (shares)			108,348	25,145
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			24,145

EQUITY-BASED COMPENSATION - Sch

EQUITY-BASED COMPENSATION - Schedule of Fair Value Assumptions (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate		1.61%
Volatility		103.70%
Expected life (years)		5 years 9 months 14 days
Expected dividend yield	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.28%
Volatility	113.17%
Expected life (years)	5 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.555%
Volatility	130.41%
Expected life (years)	6 years

EQUITY-BASED COMPENSATION - Sum

EQUITY-BASED COMPENSATION - Summary of stock option activity (Details) - USD ($)	Sep. 10, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares
Outstanding, beginning balance (shares)		166,233	0
Granted (shares)	101,082	1,468,118	101,082
Options from Flex Pharma (shares)			65,151
Exercised (shares)		0	0
Forfeited (shares)		36,613	0
Expired (shares)		33,766	0
Outstanding, ending balance (shares)		1,563,972	166,233
Exercisable (shares)		73,975	84,321
Weighted-Average Exercise Price
Beginning balance (in usd per share)		$ 34.42	$ 0
Granted (in usd per share)		0.93	8
Options from Flex Pharma (in usd per share)			75.42
Exercised (in usd per share)			0
Forfeited (in usd per share)			0
Expired (in usd per share)			0
Ending balance (in usd per share)		2.44	34.42
Exercisable (in usd per share)		$ 35.89	$ 60.09
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding, weighted-average remaining contractual term		4 years 10 months 13 days	6 years 6 months 10 days
Exercisable, weighted-average remaining contractual term		5 years 4 months 28 days	3 years 5 months 12 days
Outstanding, aggregate intrinsic value		$ 175,770	$ 0	$ 0
Exercisable, aggregate intrinsic value		$ 0	$ 0

INCOME TAX - Narrative (Details

INCOME TAX - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Deferred tax assets	$ 2,839,010	$ 952,881
Valuation allowance, increase	1,900,000
Research and development tax credit
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	330,000
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 3,200,000	$ 4,200,000

INCOME TAX - Schedule of Deferr

INCOME TAX - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Capitalized R&D Expenses	$ 1,725,015	$ 0
Other Deferred Items	87,432
Other Deferred Items		(5,174)
Stock Compensation	28,048	70,108
Net Operating Loss - US	673,186	887,947
R&D Credits	325,329	0
Net deferred tax assets (liabilities)	2,839,010	952,881
Valuation Allowance	(2,839,010)	(952,881)
Net deferred tax assets (liabilities)	$ 0	$ 0

INCOME TAX - Schedule of Effect

INCOME TAX - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Amount
Federal Tax at Statutory Rate	21.00%	21.00%
Permanent	0.63%	(8.69%)
Change in VA	(25.65%)	(12.31%)
Other items	(0.40%)	0.00%
R&D Credit	4.42%	0.00%
Effective Tax Rate	0.00%	0.00%

PAYROLL PROTECTION PROGRAM (Det

PAYROLL PROTECTION PROGRAM (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Apr. 13, 2020	Jul. 31, 2019
Debt Instrument [Line Items]
Principal amount	$ 900		$ 900
Interest rate	2.49%		4.61%
Loan Payable
Debt Instrument [Line Items]
Interest rate		1.00%
Loan Payable | PPP, CARES Act
Debt Instrument [Line Items]
Principal amount		$ 180

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	Mar. 08, 2021	Feb. 11, 2021	Mar. 18, 2021	Dec. 31, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Warrants exercised for cash				$ 3,869,168	$ 0
Subsequent event
Subsequent Event [Line Items]
Proceeds	$ 23,000,000	$ 6,300,000
Number of shares in transaction	16,806,722	2,820,490
Price per share (usd per share)		$ 2.24
Warrants exercised for cash			$ 1,500,000