Salarius Pharmaceuticals (SLRX) 10-Q 5 Aug 21 2021 Q2 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	6 Months Ended
	Jun. 30, 2021	Aug. 02, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-36812
Entity Registrant Name	SALARIUS PHARMACEUTICALS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-5087339
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
City Area Code	832
Local Phone Number	834-6992
Title of 12(b) Security	Common Stock, $ 0.0001 par value
Trading Symbol	SLRX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		44,778,794
Entity Central Index Key	0001615219
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 33,079,389	$ 11,118,614
Grants receivable from CPRIT	4,794,919	3,855,996
Prepaid expenses and other current assets	432,502	822,050
Total current assets	38,306,810	15,796,660
Property and equipment, net	15,260	22,639
Other assets	216,786	247,113
Goodwill	8,865,909	8,865,909
Total assets	47,404,765	24,932,321
Current liabilities:
Accounts payable	1,275,879	1,853,756
Accrued expenses and other current liabilities	214,677	383,138
Note payable	0	477,028
Warrant liability	63,079	59,211
Total liabilities	1,553,635	2,773,133
Commitments and contingencies (Note 5)
Stockholders' equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; 0 issued and outstanding	0	0
Common stock, $0.0001 par value; 100,000,000 shares authorized; 44,778,794 and 23,810,541 shares issued at June 30, 2021 and December 31, 2020, and 44,778,794 and 23,808,546 shares outstanding at June 30, 2021 and December 31, 2020, respectively	4,477	2,381
Additional paid-in capital	70,201,872	41,585,761
Accumulated deficit	(24,355,219)	(19,428,954)
Total stockholders' equity	45,851,130	22,159,188
Total liabilities and stockholders' equity	$ 47,404,765	$ 24,932,321

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in 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 (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	44,778,794	23,810,541
Common stock, shares outstanding	44,778,794	23,808,546

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue from contract with customer, product and service	us-gaap:GrantMember	us-gaap:GrantMember	us-gaap:GrantMember	us-gaap:GrantMember
Grant revenue	$ 571,387	$ 1,243,310	$ 1,840,216	$ 2,376,140
Operating expenses:
Research and development	2,096,302	1,443,322	3,836,957	3,086,693
General and administrative	1,591,905	1,700,942	2,924,674	3,559,959
Total operating expenses	3,688,207	3,144,264	6,761,631	6,646,652
Loss before other income (expense)	(3,116,820)	(1,900,954)	(4,921,415)	(4,270,512)
Change in fair value of warrant liability	42,186	(62,635)	(3,868)	220,435
Government grants and other income	0	179,027	0	179,027
Interest income (expense), net	265	304	(982)	2,976
Loss from continuing operations	(3,074,369)	(1,784,258)	(4,926,265)	(3,868,074)
Net loss	$ (3,074,369)	$ (1,784,258)	$ (4,926,265)	$ (3,868,074)
Earnings Per Share, Diluted( In dollar per share)	$ (0.07)	$ (0.13)	$ (0.13)	$ (0.33)
Earnings Per Share, Basic( In dollar per share)	$ (0.07)	$ (0.13)	$ (0.13)	$ (0.33)
Weighted Average Number of Shares Outstanding, Diluted( In dollar per share)	44,756,201	13,951,283	37,654,521	11,743,062
Weighted Average Number of Shares Outstanding, Basic( In dollar per share)	44,756,201	13,951,283	37,654,521	11,743,062

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating activities
Net loss	$ (4,926,265)	$ (3,868,074)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation, amortization and impairment	9,591	8,466
Equity-based compensation expense	282,835	71,314
Shares issued for services	0	25,000
Change in fair value of warrant liability	3,868	(220,435)
Changes in operating assets and liabilities:
Grants receivable	(938,923)	(1,834,439)
Prepaid expenses and other current assets	417,662	617,709
Accounts payable	(577,877)	(741,018)
Accrued expenses and other current liabilities	(168,461)	298,369
Deferred revenue	0	(541,701)
Net cash used in operating activities	(5,897,570)	(6,184,809)
Financing activities
Proceeds from issuance of equity securities, net	26,850,022	9,592,325
Proceeds from warrants exercised for cash	1,485,351	578,714
Payments on note payable	(477,028)	(502,332)
Net cash provided by financing activities	27,858,345	9,668,707
Net increase in cash, cash equivalents and restricted cash	21,960,775	3,483,898
Cash, cash equivalents and restricted cash at beginning of period	11,118,614	3,738,900
Cash, cash equivalents and restricted cash at end of period	33,079,389	7,222,798
Supplemental disclosure of cash flow information:
Cash paid for interest	1,468	4,275
Non-cash investing and financing activities:
Accrued issuance costs for public offering	$ 0	$ 125,159

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)	Total	Nonemployee	Common Stock	Common StockNonemployee	Preferred Stock	Additional Paid-In Capital	Additional Paid-In CapitalNonemployee	Accumulated Deficit
Equity, beginning balance (shares) at Dec. 31, 2019			4,511,174		0
Equity, beginning balance at Dec. 31, 2019	$ 10,580,854		$ 451		$ 0	$ 22,657,103		$ (12,076,700)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of equity securities, net (shares)			8,353,480		1,246,519
Issuance of equity securities, net	9,467,166		$ 835		$ 125	9,466,206
Preferred shares converted to common shares (shares)			777,825		(777,825)
Preferred shares converted to common shares	0		$ 78		$ (78)
Equity-based compensation expense (shares)			3,198
Equity-based compensation expense	38,409					38,409
Net loss	(2,083,816)							(2,083,816)
Equity, ending balance (shares) at Mar. 31, 2020			13,645,677		468,694
Equity, ending balance at Mar. 31, 2020	18,002,613		$ 1,364		$ 47	32,161,718		(14,160,516)
Equity, beginning balance (shares) at Dec. 31, 2019			4,511,174		0
Equity, beginning balance at Dec. 31, 2019	10,580,854		$ 451		$ 0	22,657,103		(12,076,700)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(3,868,074)
Equity, ending balance (shares) at Jun. 30, 2020			14,638,008		0
Equity, ending balance at Jun. 30, 2020	16,854,974		$ 1,463		$ 0	32,798,285		(15,944,774)
Equity, beginning balance (shares) at Mar. 31, 2020			13,645,677		468,694
Equity, beginning balance at Mar. 31, 2020	18,002,613		$ 1,364		$ 47	32,161,718		(14,160,516)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred shares converted to common shares (shares)			468,694		(468,694)
Preferred shares converted to common shares	0		$ 47		$ (47)
Warrants exercised for cash (shares)			503,230
Warrants exercised for cash, net	578,714		$ 50			578,664
Equity-based compensation expense (shares)			1,843	18,564
Equity-based compensation expense	32,905	$ 25,000		$ 2		32,905	$ 24,998
Net loss	(1,784,258)							(1,784,258)
Equity, ending balance (shares) at Jun. 30, 2020			14,638,008		0
Equity, ending balance at Jun. 30, 2020	16,854,974		$ 1,463		$ 0	32,798,285		(15,944,774)
Equity, beginning balance (shares) at Dec. 31, 2020			23,808,546		0
Equity, beginning balance at Dec. 31, 2020	22,159,188		$ 2,381		$ 0	41,585,761		(19,428,954)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of equity securities, net (shares)			19,627,215
Issuance of equity securities, net	26,850,021		$ 1,963			26,848,058
Warrants exercised for cash (shares)			1,298,567
Warrants exercised for cash, net	1,485,351		$ 129			1,485,222
Equity-based compensation expense	135,379					135,379
Net loss	(1,851,896)							(1,851,896)
Equity, ending balance (shares) at Mar. 31, 2021			44,734,328		0
Equity, ending balance at Mar. 31, 2021	48,778,043		$ 4,473		$ 0	70,054,420		(21,280,850)
Equity, beginning balance (shares) at Dec. 31, 2020			23,808,546		0
Equity, beginning balance at Dec. 31, 2020	22,159,188		$ 2,381		$ 0	41,585,761		(19,428,954)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Warrants exercised for cash (shares)			1,298,567
Net loss	(4,926,265)
Equity, ending balance (shares) at Jun. 30, 2021			44,778,794		0
Equity, ending balance at Jun. 30, 2021	45,851,130		$ 4,477		$ 0	70,201,872		(24,355,219)
Equity, beginning balance (shares) at Mar. 31, 2021			44,734,328		0
Equity, beginning balance at Mar. 31, 2021	48,778,043		$ 4,473		$ 0	70,054,420		(21,280,850)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation expense (shares)			38,278	6,188
Equity-based compensation expense	147,456		$ 4			147,452
Net loss	(3,074,369)							(3,074,369)
Equity, ending balance (shares) at Jun. 30, 2021			44,778,794		0
Equity, ending balance at Jun. 30, 2021	$ 45,851,130		$ 4,477		$ 0	$ 70,201,872		$ (24,355,219)

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS	6 Months Ended
	Jun. 30, 2021
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 biopharmaceutical company focused on developing effective treatments for cancers with high, unmet medical need. Specifically, the Company is developing treatments for cancers caused by dysregulated gene expression, i.e., genes that are incorrectly turned on or off. The field concerned with gene expression regulation is called ‘epigenetics’. As cancers are often diseases driven by gene dysregulation, epigenetics is an area of interest for cancer treatment. The Company's lead epigenetic based technology was licensed from the University of Utah Research Foundation in 2011. The Company is located in Houston, Texas. Risks Related to Covid-19 Pandemic The outbreak of COVID-19 has spread worldwide and has had a major impact on the United States and global economies and may in the future affect the Company’s operations and those of third parties on which the Company relies. While the potential economic and operational impact brought by, and the duration of, the COVID-19 pandemic is difficult to assess or predict, the future impact of the COVID-19 pandemic on the global financial markets may reduce the Company’s ability to access capital, which could negatively impact the Company’s long-term liquidity. The ultimate impact of the COVID-19 pandemic continues to be highly uncertain and subject to change and the Company does not yet know the full extent of potential delays or impacts on its business. However, these effects could have a material impact on the Company’s liquidity, capital resources, operations, and business and those of the third parties on which we rely.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed 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"). Principles of Consolidation The condensed 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. Unaudited Interim Financial Information The accompanying interim financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. These unaudited interim financial statements should be read in conjunction with the audited financial statements and accompanying notes for the year ended December 31, 2020 included elsewhere in the Company's Annual Report on Form 10-K filed with the SEC on March 18, 2021. In the opinion of management, the unaudited interim financial statements reflect all the adjustments (consisting of normal recurring adjustments) necessary to state fairly the Company’s financial position as of June 30, 2021 and the results of operations for the three and six months ended June 30, 2021 and 2020. The interim results of operations are not necessarily indicative of the results that may occur for the full fiscal year. The December 31, 2020 balance sheet included herein was derived from the audited financial statements, but does not include all disclosures, including notes, required by GAAP for complete financial statements. 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. The Company maintains several bank accounts including an interest-bearing account for funds received from Cancer Prevention and Research Institution of Texas ("CPRIT") funded amount. 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. There were no impairment charges related to long-lived assets for the three and six months ended June 30, 2021 and 2020. 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 during the three and six months ended June 30, 2021 or June 30, 2020, respectively. 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 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 Condensed Consolidated 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. 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 including 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, (iv) convertible preferred stock and (v) 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 9,520,698 and 9,606,690 shares as of June 30, 2021 and 2020, 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 June 30, 2021 and December 31, 2020, 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. Subsequent Events The Company’s management reviewed all material events through the date that the financial statements were issued for subsequent event disclosure consideration. Application of New Accounting Standards 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. The adoption of ASU 2019-12 in the first quarter of 2021 did not have a material impact on the Company’s condensed consolidated financial statements.

GRANTS RECEIVABLE

GRANTS RECEIVABLE	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
GRANTS RECEIVABLE	GRANTS RECEIVABLEGrants receivable represents qualifying costs incurred and there is reasonable assurance that conditions of the grant have been met but the corresponding funds have not been received as of the reporting date. Grants receivable balances are $4.8 million and $3.9 million as of June 30, 2021 and December 31, 2020, respectively.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 and December 31, 2020 consisted of the following: June 30, 2021 December 31, 2020 Prepaid clinical trial expenses $ 173,645 $ — Prepaid insurance 117,306 684,268 Other prepaid and current assets 141,551 137,782 Total prepaid expenses and other current assets $ 432,502 $ 822,050

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
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 an exclusive license to an epigenetic enzyme lysine specific demethylase 1 ("LSD1"). 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 subject to certain adjustments specified in the agreement, such as 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 of up to $18.7 million, further modified to $16.1 million, to fund the development of an LSD1 inhibitor. This is a 3-year grant award which 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 a 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 June 30, 2021, the Company has expended all allowable funds under the grant. At June 30, 2021 and December 31, 2020, the Company had grants receivable of $4.8 million and $3.9 million, respectively, related to the CPRIT contract.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2021
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, 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 issued in connection with the Company's merger with Flex Pharma in 2019, which are measured at fair value on a recurring basis for the three and six months ended June 30, 2021: Description Balance at December 31, 2020 Change in Fair Value Balance at June 30, 2021 Warrant liability $ 59,211 $ 3,868 $ 63,079

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY 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 2020 Offering”). The February 2020 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 8,353,480 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 exercise price of the warrants are fixed and do not contain any variable pricing features or any price based anti-dilutive features. As discussed above, in connection with the February 2020 Offering, the Company issued five-year warrants to purchase one share of common stock at an exercise price of $1.15 per share (each 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. On August 3, 2020, the Company completed a public offering of 5,130,390 shares of its common stock at a price to the public of $1.20 per share. Total gross proceeds from the offering were approximately $6.2 million, prior to deducting underwriting discounts and commissions and offering expenses payable by Salarius. On February 5, 2021, the Company entered into an At the Market Offering Agreement with Ladenburg Thalmann & Co. Inc. Under this agreement the Company is able to issue and sell, from time to time, shares of its common stock. On February 5, 2021 and July 2, 2021, the Company filed prospectus supplements with the SEC to register the offering and sale of Common Stock having an aggregate offering price of up to $6.3 million and $25.0 million, respectively. During the six months ended June 30, 2021, the Company issued 2,820,493 shares under the Sales Agreement for gross proceeds of $6.3 million. On March 8, 2021, the Company completed a public offering of 16,806,722 shares of its common stock at a price to the public of $1.3685 per share. Total gross proceeds from the offering were approximately $23.0 million prior to deducting underwriting discounts and commissions and offering expenses payable by Salarius. Warrants Exercised for Cash During the six months ended June 30, 2021, the Company issued 1,298,567 common shares as a result of warrant exercises, and received cash proceeds of approximately $1.5 million. As of June 30, 2021, 7,747,587 of warrants were still outstanding. Right to Warrants On January 3, 2019, Flex Pharma, Private Salarius and Merger Sub entered into the Merger Agreement. Pursuant to the Merger Agreement, 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 entitles such stockholders to receive a warrant to purchase the Company's common shares on January 20, 2020. These warrants were issued on July 1, 2021 and are exercisable in the aggregate, into 142,711 shares of the Company's common stock with a 5-year term from January 20, 2020, at 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. 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: June 30, 2021 December 31, 2020 Discount rate 0.56% 0.27% Expected life (years) 3.56 years 4.06 years Expected volatility 130.87% 130.56% 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 June 30, 2021, all warrants issued to Wedbush were outstanding.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2021
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 2015 Equity Incentive Plan (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 June 30, 2021. 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 June 30, 2021, there were 1,037,190 shares remaining available for the grant of stock awards under the 2015 Plan. During the six-month periods ended June 30, 2021 and 2020, the Company awarded 68,500 and 182,000, respectively, stock options to its employees and directors, pursuant to the plan described above. Stock options generally vest over one 3/10/2021 6/16/2021 3/23/2020 Risk-free interest rate 1.00 % 1.09 % 0.48 % Volatility 133.35 % 131.06 % 113.17 % Expected life (years) 6.00 6.00 5.80 Expected dividend yield 0 % 0 % 0 % The following table summarizes stock option activity for employees and non-employees for the six months ended June 30, 2021 and 2020: Shares Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2019 166,233 $34.42 6.53 $— Granted 182,000 0.61 Exercised — Forfeited (26,000) — Expired — Outstanding at June 30, 2020 322,233 $17.59 7.85 Exercisable at June 30, 2020 84,711 $59.61 3.00 $— Outstanding at December 31, 2020 1,563,972 $2.78 9.47 $175,770 Granted 68,500 $1.13-$1.49 Exercised — Forfeited (45,000) Expired — Outstanding at June 30, 2021 1,587,472 $2.77 8.99 $307,100 Exercisable at June 30, 2021 156,519 $17.64 6.90 $33,750 As of June 30, 2021 and 2020, there was approximately $1.1 million and $0.4 million of total unrecognized compensation cost 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 2.7 years.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSOn July 12, 2021, the Small Business Administration (SBA) has authorized full Forgiveness of $0.2 million for the Company's Paycheck Protection Program (PPP) Loan. The Company had previously recognized this as government grants and other income during the six months ended June 30, 2020.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed 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").
Principles of Consolidation	Principles of Consolidation The condensed 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.
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 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 Condensed Consolidated 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.
Grants Receivable and Revenue Recognition	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.
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.
Subsequent Events	Subsequent Events The Company’s management reviewed all material events through the date that the financial statements were issued for subsequent event disclosure consideration.
Application of New Accounting Standards	Application of New Accounting Standards 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. The adoption of ASU 2019-12 in the first quarter of 2021 did not have a material impact on the Company’s condensed consolidated financial statements.

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets at June 30, 2021 and December 31, 2020 consisted of the following: June 30, 2021 December 31, 2020 Prepaid clinical trial expenses $ 173,645 $ — Prepaid insurance 117,306 684,268 Other prepaid and current assets 141,551 137,782 Total prepaid expenses and other current assets $ 432,502 $ 822,050

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
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 issued in connection with the Company's merger with Flex Pharma in 2019, which are measured at fair value on a recurring basis for the three and six months ended June 30, 2021: Description Balance at December 31, 2020 Change in Fair Value Balance at June 30, 2021 Warrant liability $ 59,211 $ 3,868 $ 63,079

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Schedule of Variables Used in Black-Scholes Model	Variables used in the Black-Scholes model are as follows: June 30, 2021 December 31, 2020 Discount rate 0.56% 0.27% Expected life (years) 3.56 years 4.06 years Expected volatility 130.87% 130.56% Expected dividend —% —%

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Fair Value Assumptions	The fair value of the option grants awarded during each of the six month periods ended June 30, 2021 and 2020 was $0.1 million, which has been estimated with the following assumptions on the grant date. 3/10/2021 6/16/2021 3/23/2020 Risk-free interest rate 1.00 % 1.09 % 0.48 % Volatility 133.35 % 131.06 % 113.17 % Expected life (years) 6.00 6.00 5.80 Expected dividend yield 0 % 0 % 0 %
Summary of Stock Option Activity	The following table summarizes stock option activity for employees and non-employees for the six months ended June 30, 2021 and 2020: Shares Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2019 166,233 $34.42 6.53 $— Granted 182,000 0.61 Exercised — Forfeited (26,000) — Expired — Outstanding at June 30, 2020 322,233 $17.59 7.85 Exercisable at June 30, 2020 84,711 $59.61 3.00 $— Outstanding at December 31, 2020 1,563,972 $2.78 9.47 $175,770 Granted 68,500 $1.13-$1.49 Exercised — Forfeited (45,000) Expired — Outstanding at June 30, 2021 1,587,472 $2.77 8.99 $307,100 Exercisable at June 30, 2021 156,519 $17.64 6.90 $33,750

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accounting Policies [Abstract]
Impairment charges of long-lived assets	$ 0	$ 0	$ 0	$ 0
Impairment of goodwill	$ 0	$ 0	$ 0	$ 0
Antidilutive securities excluded from computation of earnings per share (shares)			9,520,698	9,606,690

GRANTS RECEIVABLE (Details)

GRANTS RECEIVABLE (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Grants receivable from CPRIT	$ 4,794,919	$ 3,855,996

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid clinical trial expenses	$ 173,645	$ 0
Prepaid insurance	117,306	684,268
Other prepaid and current assets	141,551	137,782
Total prepaid expenses and other current assets	$ 432,502	$ 822,050

PREPAID EXPENSES AND OTHER CU_4

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Narrative (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Jul. 31, 2020	Jul. 31, 2019
Short-term Debt [Line Items]
Note payable	$ 0	$ 477,028
Note Payable
Short-term Debt [Line Items]
Principal amount			$ 900,000	$ 900,000
Interest rate			2.49%	4.61%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Jul. 01, 2016	Jun. 30, 2016	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2011
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Award amount	$ 16,100,000	$ 18,700,000
Award term		3 years
Continued payments, percent of net sales			1.00%
Matching funds requirement			50.00%
Grants receivable from CPRIT			$ 4,794,919	$ 3,855,996
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 (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in Fair Value	$ 42,186	$ (62,635)	$ (3,868)	$ 220,435
Level 3 | Recurring
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at December 31, 2020			59,211
Change in Fair Value			3,868
Balance at June 30, 2021	$ 63,079		$ 63,079

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details)

Jul. 02, 2021shares

Mar. 08, 2021USD ($)$ / sharesshares

Feb. 05, 2021shares

Aug. 03, 2020USD ($)$ / sharesshares

Feb. 11, 2020USD ($)$ / sharesshares

Jul. 19, 2019USD ($)$ / sharesshares

Jul. 18, 2019trading_dayshares

Mar. 31, 2021USD ($)shares

Jun. 30, 2020shares

Mar. 31, 2020USD ($)shares

Jun. 30, 2021USD ($)shares

Jun. 30, 2020USD ($)

Jul. 01, 2021$ / sharesshares

Dec. 31, 2020

Dec. 11, 2020$ / sharesshares

Feb. 29, 2020$ / sharesshares

Class of Stock [Line Items]

Shares issued, value | $

$ 23,000,000

$ 6,200,000

$ 26,850,021

$ 9,467,166

Expected life (years)

3 years 6 months 21 days

4 years 21 days

Exercise price (in dollars per share) | $ / shares

$ 1.182

Number of shares called by warrants

3,964,065

Proceeds from warrants exercised for cash | $

$ 1,485,351

$ 578,714

Consecutive trading days | trading_day

10

Wedbush | Satisfy Success Fee

Class of Stock [Line Items]

Expected life (years)

5 years

Exercise price (in dollars 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

Subsequent Event

Class of Stock [Line Items]

Expected life (years)

5 years

Exercise price (in dollars per share) | $ / shares

$ 15.17

Number of shares called by warrants

142,711

Over-Allotment Option

Class of Stock [Line Items]

Shares issued, value | $

$ 11,000,000

Shares issued

1,252,173

Sales Agreement

Class of Stock [Line Items]

Shares issued, value | $

$ 6,300,000

Shares issued

6,300,000

2,820,493

Sales Agreement | Subsequent Event

Class of Stock [Line Items]

Shares issued

25,000,000

Minimum

Class of Stock [Line Items]

Exercise price (in dollars per share) | $ / shares

$ 0.90

Common Stock

Class of Stock [Line Items]

Shares issued, value | $

$ 1,963

$ 835

Shares issued

16,806,722

5,130,390

8,353,480

19,627,215

8,353,480

Price per share (usd per share) | $ / shares

$ 1.3685

$ 1.20

Number of rights per share

1

Number of shares called by warrants

9,599,999

Warrants exercised for cash (shares)

1,298,567

503,230

1,298,567

Warrants outstanding (shares)

7,747,587

Common Stock | Over-Allotment Option

Class of Stock [Line Items]

Expected life (years)

5 years

5 years

Number of rights per share

1

1

Exercise price (in dollars per share) | $ / shares

$ 1.15

Preferred Stock

Class of Stock [Line Items]

Shares issued, value | $

$ 125

Shares issued

1,246,519

Class A | Common Stock | Over-Allotment Option

Class of Stock [Line Items]

Number of shares issued

7,101,307

Price per share (usd per share) | $ / shares

$ 1.15

Exercise price (in dollars per share) | $ / shares

$ 1.15

Class B | Preferred Stock | Over-Allotment Option

Class of Stock [Line Items]

Number of shares issued

1,246,519

Price per share (usd per share) | $ / shares

$ 1.15

Series A Preferred | Preferred Stock

Class of Stock [Line Items]

Shares issued

1,246,519

STOCKHOLDERS' EQUITY - Schedule

STOCKHOLDERS' EQUITY - Schedule of Variables used in Black-Scholes Model (Details)	Jun. 30, 2021	Dec. 31, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected life (years)	3 years 6 months 21 days	4 years 21 days
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0.56%	0.27%
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	130.87%	130.56%
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 ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Jul. 19, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding	1,587,472	322,233	1,563,972	166,233
Number of stock options granted (shares)	68,500	182,000
Fair value	$ 0.1	$ 0.1
Unrecognized compensation cost, options	$ 1.1	$ 0.4
Unrecognized compensation cost, recognition period	2 years 8 months 12 days
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, contractual term	10 years
Minimum | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Maximum | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares remaining available for grant of stock awards (shares)	1,037,190
Flex Pharma
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding	34,385				90,279

EQUITY-BASED COMPENSATION - Sch

EQUITY-BASED COMPENSATION - Schedule of Fair Value Assumptions (Details)	Jun. 16, 2021	Mar. 10, 2021	Mar. 23, 2020
Share-based Payment Arrangement [Abstract]
Risk-free interest rate	1.09%	1.00%	0.48%
Volatility	131.06%	133.35%	113.17%
Expected life (years)	6 years	6 years	5 years 9 months 18 days
Expected dividend yield	0.00%	0.00%	0.00%

EQUITY-BASED COMPENSATION - Sum

EQUITY-BASED COMPENSATION - Summary of Stock Option Activity (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Shares
Outstanding, Beginning Balance (shares)	1,563,972	166,233	166,233
Granted (shares)	68,500	182,000
Exercised (shares)	0	0
Forfeited (shares)	(45,000)	(26,000)
Expired (shares)	0	0
Outstanding, Ending Balance (shares)	1,587,472	322,233	1,563,972	166,233
Exercisable (shares)	156,519	84,711
Weighted-Average Exercise Price
Weighted-average exercise price, Beginning Balance (in usd per share)	$ 2.78	$ 34.42	$ 34.42
Granted, weighted-average exercise price (in usd per share)		0.61
Forfeited, weighted-average exercise price (in usd per share)		0
Weighted-average exercise price, Ending Balance (in usd per share)	2.77	17.59	$ 2.78	$ 34.42
Exercisable, weighted-average exercise price (in usd per share)	$ 17.64	$ 59.61
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding, weighted-average remaining contractual term	8 years 11 months 26 days	7 years 10 months 6 days	9 years 5 months 19 days	6 years 6 months 10 days
Exercisable, weighted-average remaining contractual term	6 years 10 months 24 days	3 years
Outstanding, aggregate intrinsic value	$ 307,100		$ 175,770	$ 0
Exercisable, aggregate intrinsic value	$ 33,750	$ 0
Minimum
Weighted-Average Exercise Price
Granted, weighted-average exercise price (in usd per share)	$ 1.13
Maximum
Weighted-Average Exercise Price
Granted, weighted-average exercise price (in usd per share)	$ 1.49

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event $ in Millions	Jul. 12, 2021USD ($)
Subsequent Events [Abstract]
Debt instrument, decrease, forgiveness	$ 0.2
Subsequent Event [Line Items]
Debt instrument, decrease, forgiveness	$ 0.2