Outlook Therapeutics (OTLK) 10-Q 14 Aug 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 30, 2019	Aug. 12, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	Outlook Therapeutics, Inc.
Entity Central Index Key	0001649989
Trading Symbol	otlk
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		28,233,484
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($)	Jun. 30, 2019	Sep. 30, 2018
Current assets:
Cash	$ 14,026,832	$ 1,717,391
Prepaid and other current assets	4,782,750	1,585,089
Total current assets	18,809,582	3,302,480
Property and equipment, net	13,921,160	18,489,976
Other assets	483,353	491,039
Total assets	33,214,095	22,283,495
Current liabilities:
Convertible senior secured notes	6,699,000	13,179,449
Current portion of long-term debt	1,048,685	66,480
Current portion of capital lease obligations	205,413	520,794
Stockholder notes	3,612,500	4,612,500
Accounts payable	2,987,622	3,609,607
Accrued expenses	4,473,151	6,458,471
Income taxes payable	1,856,129	1,856,129
Deferred revenue	2,335,392	1,738,603
Total current liabilities	23,217,892	32,042,033
Long-term debt	62,856	98,487
Capital lease obligations	3,347,025	3,453,256
Warrant liability	428,099	1,227,225
Deferred revenue	3,533,145	2,758,262
Other liabilities	3,983,341	3,514,738
Total liabilities	34,572,358	43,094,001
Commitments (Note 9)
Convertible preferred stock:
Total convertible preferred stock	5,197,323	4,734,416
Stockholders' equity (deficit):
Preferred stock, par value $0.01 per share: 7,300,000 shares authorized, no shares issued and outstanding
Common stock, par value $0.01 per share; 200,000,000 shares authorized; 28,233,028 shares issued and outstanding at June 30, 2019 and 9,027,491 shares issued and outstanding at September 30, 2018	282,330	90,275
Additional paid-in capital	237,546,229	190,672,166
Accumulated deficit	(244,384,145)	(216,307,363)
Total stockholders' equity (deficit)	(6,555,586)	(25,544,922)
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	33,214,095	22,283,495
Series A convertible preferred stock
Convertible preferred stock:
Total convertible preferred stock
Series A-1 convertible preferred stock
Convertible preferred stock:
Total convertible preferred stock	5,197,323	4,734,416
Series B convertible preferred stock
Convertible preferred stock:
Total convertible preferred stock

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (unaudited) (Parentheticals) - USD ($)	Jun. 30, 2019	Sep. 30, 2018
Preferred stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	7,300,000	7,300,000
Preferred stock, shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	28,233,028	9,027,491
Common stock, shares outstanding	28,233,028	9,027,491
Series A convertible preferred stock
Convertible preferred stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Convertible preferred stock, shares authorized	1,000,000	1,000,000
Convertible preferred stock, shares issued	0	0
Convertible preferred stock outstanding	0	0
Series A-1 convertible preferred stock
Convertible preferred stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Convertible preferred stock, shares authorized	200,000	200,000
Convertible preferred stock, shares issued	64,831	60,203
Convertible preferred stock outstanding	64,831	60,203
Series B convertible preferred stock
Convertible preferred stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Convertible preferred stock, shares authorized	1,500,000	1,500,000
Convertible preferred stock, shares issued	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Collaboration revenues	$ 583,848	$ 771,890	$ 2,292,586	$ 2,315,670
Operating expenses:
Research and development	4,393,466	5,795,993	19,312,010	11,354,781
General and administrative	1,834,545	2,195,789	6,587,691	8,191,546
Total operating expenses	6,228,011	7,991,782	25,899,701	19,546,327
Loss from operations	(5,644,163)	(7,219,892)	(23,607,115)	(17,230,657)
Interest expense, net	1,081,779	1,147,371	3,256,505	2,786,124
Loss on extinguishment of debt	423,686		607,240	1,252,353
Change in fair value of warrant liability	(1,931,244)	64,659	(2,265,836)	(226,116)
Loss before income taxes	(5,218,384)	(8,431,922)	(25,205,024)	(21,043,018)
Income tax benefit	(777,500)		(777,500)	(3,150,716)
Net loss	(4,440,884)	(8,431,922)	(24,427,524)	(17,892,302)
Recognition of beneficial conversion feature upon issuance of Series A and A-1 convertible preferred stock			(61,365)	(15,736,683)
Series A and A-1 convertible preferred stock dividends and related settlement	(158,128)	(652,612)	(462,907)	(1,740,108)
Deemed dividend upon modification of warrants			(829,530)
Net loss attributable to common stockholders	$ (4,599,012)	$ (9,084,534)	$ (25,781,326)	$ (35,369,093)
Per share information:
Net loss per share of common stock, basic and diluted (in dollars per share)	$ (0.20)	$ (2.10)	$ (1.74)	$ (9.96)
Weighted average shares outstanding, basic and diluted (in shares)	23,007,077	4,317,502	14,787,010	3,552,853

Consolidated Statements of Conv

Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (unaudited) - USD ($)	Common Stock	Common StockSenior secured notes (the "Noteholders")	Common StockPrivate Placement	Common StockPublic offering	Additional Paid-in Capital	Additional Paid-in CapitalSenior secured notes (the "Noteholders")	Additional Paid-in CapitalPrivate Placement	Additional Paid-in CapitalPublic offering	Accumulated Deficit	Accumulated DeficitPrivate Placement	Total	Senior secured notes (the "Noteholders")	Private Placement	Public offering	Series A convertible preferred stock	Series A-1 convertible preferred stock	Series B convertible preferred stockCommon Stock	Series B convertible preferred stockAdditional Paid-in Capital	Series B convertible preferred stockAccumulated Deficit	Series B convertible preferred stock	Series B convertible preferred stockSenior secured notes (the "Noteholders")
Balance at Sep. 30, 2017	$ 31,167				$ 152,533,260				$ (186,215,402)		$ (33,650,975)				$ 2,924,441
Balance (in shares) at Sep. 30, 2017	3,116,743														32,628
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from exercise of common stock warrants	$ 4				(4)
Proceeds from exercise of common stock warrants (in shares)	432
Issuance of vested restricted stock units	$ 1,027				(1,027)
Issuance of vested restricted stock units (in shares)	102,625
Sale of Series A convertible preferred stock and common stock warrants, net of costs			$ 15,943		6,382,181		$ 14,840,145				6,382,181		$ 14,856,088		$ 14,265,861
Sale of Series A convertible preferred stock and common stock warrants, net of costs (in shares)			1,594,345												217,372
Conversion of Series A convertible preferred stock into common stock	$ 39,466				14,320,350						14,359,816	$ 2,661,972			$ (14,359,816)		$ 264,084	$ 2,641	$ 2,659,331	$ (2,661,972)	$ 2,661,972
Conversion of Series A convertible preferred stock into common stock (in shares)	3,946,577														(208,836)					(1,500,000)	1,500,000
Series A and A-1 convertible preferred stock dividends and related settlement					(1,740,108)						(1,740,108)				$ 1,104,481
Series A and A-1 convertible preferred stock dividends and related settlement (in shares)															11,045
Stock-based compensation expense					1,823,728						1,823,728
Net loss									(17,892,302)		(17,892,302)
Balance at Jun. 30, 2018	$ 90,248				190,817,856				(204,107,704)		(13,199,600)				$ 3,934,967
Balance (in shares) at Jun. 30, 2018	9,024,806														52,209
Balance at Mar. 31, 2018	$ 32,176				159,416,545				(195,675,782)		(33,565,089)				$ 18,294,783					$ 2,661,972
Balance (in shares) at Mar. 31, 2018	3,217,557														261,045					1,500,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from exercise of common stock warrants	$ 4				(4)
Proceeds from exercise of common stock warrants (in shares)	432
Issuance of vested restricted stock units	$ 18				(18)
Issuance of vested restricted stock units (in shares)	1,811
Sale of Series A convertible preferred stock and common stock warrants, net of costs			$ 15,943				$ 14,840,145				0		14,856,088
Sale of Series A convertible preferred stock and common stock warrants, net of costs (in shares)			1,594,345
Conversion of Series A convertible preferred stock into common stock	$ 39,466				14,320,350						14,359,816				$ (14,359,816)		$ 2,641	$ 2,659,331		$ (2,661,972)
Conversion of Series A convertible preferred stock into common stock (in shares)	3,946,577														(208,836)		264,084			(1,500,000)
Series A and A-1 convertible preferred stock dividends and related settlement					(652,612)						(652,612)
Conversion of senior secured notes into Series B convertible preferred stock											0
Stock-based compensation expense					234,119						234,119
Net loss									(8,431,922)		(8,431,922)
Balance at Jun. 30, 2018	$ 90,248				190,817,856				(204,107,704)		(13,199,600)				$ 3,934,967
Balance (in shares) at Jun. 30, 2018	9,024,806														52,209
Balance at Sep. 30, 2018	$ 90,275				190,672,166				(216,307,363)		(25,544,922)					$ 4,734,416
Balance (in shares) at Sep. 30, 2018	9,027,491															60,203
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of vested restricted stock units	$ 4				(4)
Issuance of vested restricted stock units (in shares)	446
Sale of Series A convertible preferred stock and common stock warrants, net of costs			$ 26,804	$ 103,400				$ 26,053,103		$ 19,781,513			$ 19,808,317	$ 26,156,503
Sale of Series A convertible preferred stock and common stock warrants, net of costs (in shares)			2,680,390	10,340,000
Issuance of common stock in connection with exercise of warrants	$ 61,343				(56,993)						4,350
Issuance of common stock in connection with exercise of warrants (in shares)	6,134,307
Conversion of Series A convertible preferred stock into common stock		$ 504				$ 401,464						$ 401,968
Conversion of Series A convertible preferred stock into common stock (in shares)		50,394
Series A and A-1 convertible preferred stock dividends and related settlement					(462,907)						(462,907)					$ 462,907
Series A and A-1 convertible preferred stock dividends and related settlement (in shares)																4,628
Stock-based compensation expense					1,108,766						1,108,766
Accrued directors fees settled in fully vested stock options					49,121						49,121
Net loss									(24,427,524)		(24,427,524)
Balance at Jun. 30, 2019	$ 282,330				237,546,229				(244,384,145)		(6,555,586)					$ 5,197,323
Balance (in shares) at Jun. 30, 2019	28,233,028															64,831
Balance at Mar. 31, 2019	$ 117,596				211,739,503				(239,943,261)		(28,086,162)					$ 5,039,195
Balance (in shares) at Mar. 31, 2019	11,759,630															63,250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Sale of Series A convertible preferred stock and common stock warrants, net of costs				$ 103,400				$ 26,053,103						$ 26,156,503
Sale of Series A convertible preferred stock and common stock warrants, net of costs (in shares)				10,340,000
Issuance of common stock in connection with exercise of warrants	$ 61,334				(56,984)						4,350
Issuance of common stock in connection with exercise of warrants (in shares)	6,133,398
Series A and A-1 convertible preferred stock dividends and related settlement					(158,128)						(158,128)					$ 158,128
Series A and A-1 convertible preferred stock dividends and related settlement (in shares)																1,581
Stock-based compensation expense					(31,265)						(31,265)
Net loss									(4,440,884)		(4,440,884)
Balance at Jun. 30, 2019	$ 282,330				$ 237,546,229				(244,384,145)		(6,555,586)					$ 5,197,323
Balance (in shares) at Jun. 30, 2019	28,233,028															64,831
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adoption of ASU 2014-09 (Topic 606)									$ (3,649,258)		$ (3,649,258)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
OPERATING ACTIVITIES
Net loss	$ (24,427,524)	$ (17,892,302)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,473,005	2,229,947
Loss on extinguishment of debt	607,240	1,252,353
Non-cash interest expense	1,314,321	1,200,504
Stock-based compensation	1,108,766	1,823,728
Change in fair value of warrant liability	(2,265,836)	(226,116)
Loss on disposal of property and equipment	2,962,064
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(2,811,592)	(606,067)
Other assets	(109,096)	(33,612)
Accounts payable	(1,931,468)	(8,002,074)
Accrued expenses	(1,089,424)	(2,101,223)
Deferred revenue	(2,277,586)	(2,285,671)
Other liabilities	73,531	(4,806)
Net cash used in operating activities	(26,373,599)	(24,645,339)
INVESTING ACTIVITIES
Purchase of property and equipment	(437,306)	(1,518,349)
Net cash used in investing activities	(437,306)	(1,518,349)
FINANCING ACTIVITIES
Proceeds from issuance of common stock through private placement and public offering, net	45,964,820	14,856,088
Proceeds from issuance of Series A convertible preferred stock		21,737,200
Proceeds from exercise of common stock warrants	4,350
Payments of capital leases obligations	(470,295)	(634,866)
Repayment of debt	(6,404,597)	(94,427)
Payment of financing costs		(1,089,158)
Net cash provided by financing activities	39,094,278	34,774,837
Effect of foreign exchange rate on cash	26,068
Net increase in cash	12,309,441	8,611,149
Cash at beginning of period	1,717,391	3,185,519
Cash at end of period	14,026,832	11,796,668
Supplemental disclosure of cash flow information
Cash paid for interest	2,710,376	81,005
Supplemental schedule of noncash investing activities:
Purchases of property and equipment in accounts payable and accrued expenses	1,048,286	463,007
Supplemental schedule of noncash financing activities:
Senior secured notes and accrued interest converted into common stock	401,968
Issuance of Series B convertible preferred stock upon conversion of senior secured notes, net of unamortized debt discount		1,409,619
Issuance of capital lease obligations in connection with purchase of property and equipment	48,683	4,260,942
Change in fair value of convertible senior secured notes warrants capitalized as deferred financing costs	1,466,710
Series A and A-1 convertible preferred stock dividends	462,907	652,612
Series A and A-1 convertible preferred stock dividends settlement	462,907	$ 1,104,481
Accrued directors fees settled in fully vested stock options	$ 49,121

Organization and Description of

Organization and Description of Business	9 Months Ended
	Jun. 30, 2019
Organization And Description Of Business [Abstract]
Organization and Description of Business	1. Organization and Description of Business Outlook Therapeutics, Inc., (formerly Oncobiologics, Inc.), (“Outlook” or the “Company”) was incorporated in New Jersey on January 5, 2010, started operations in July 2011, reincorporated in Delaware by merging with and into a Delaware corporation in October 2015 and changed its name to “Outlook Therapeutics, Inc.” in November 2018. The Company is a late clinical-stage biopharmaceutical company focused on developing and commercializing ONS-5010, a complex monoclonal antibody (“mAb”) therapeutic for various ophthalmic indications. The Company is based in Cranbury, New Jersey.

Liquidity

Liquidity	9 Months Ended
	Jun. 30, 2019
Liquidity [Abstract]
Liquidity	2. Liquidity The Company has incurred substantial losses and negative cash flows from operations since its inception and has an accumulated deficit of $244.4 million as of June 30, 2019. As of June 30, 2019, the Company had substantial indebtedness that included $6.7 million of senior secured notes that mature on December 22, 2019, $3.6 million unsecured notes that were due on demand as of such date, and $1.0 million of unsecured notes that were also due on demand as of such date but which are subject to a forbearance agreement through March 7, 2020. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying unaudited interim consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The unaudited interim consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. On November 30, 2018, the Company received approval from the New Jersey Economic Development Authority’s Technology Business Tax Certificate Transfer Program to sell approximately $3.7 million of its unused New Jersey net operating losses (“NOLs”) and research and development tax credits (“R&D credits”). The Company received $3.4 million of proceeds from the sale of the New Jersey NOLs and R&D credits, of which approximately $0.8 million and $2.6 million was received in April 2019 and July 2019, respectively. Management believes that the Company’s existing cash as of June 30, 2019 and the proceeds from the sale of New Jersey NOLs and R&D credits received in July 2019 of $2.6 million will be sufficient to fund its operations into December 2019, excluding any unscheduled repayment of debt. Substantial additional financing will be needed by the Company to fund its operations in the future and to commercially develop its product candidates. Management is currently evaluating different strategies to obtain the required funding for future operations. These strategies may include, but are not limited to: payments from potential strategic research and development partners, licensing and/or marketing arrangements with pharmaceutical companies, private placements of equity and/or debt securities, sale of its development stage product candidates to third parties and public offerings of equity and/or debt securities. There can be no assurance that these future funding efforts will be successful. The Company’s future operations are highly dependent on a combination of factors, including (i) the timely and successful completion of additional financing discussed above; (ii) the Company’s ability to complete revenue-generating partnerships with pharmaceutical companies; (iii) the success of its research and development; (iv) the development of competitive therapies by other biotechnology and pharmaceutical companies, and, ultimately; (v) regulatory approval and market acceptance of the Company’s proposed future products.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	3. Basis of Presentation and Summary of Significant Accounting Policies Basis of presentation The accompanying unaudited interim consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). In the opinion of management, the accompanying unaudited interim consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the financial statements) considered necessary to present fairly the Company’s financial position as of June 30, 2019 and its results of operations for the three and nine months ended June 30, 2019 and 2018 and cash flows for the nine months ended June 30, 2019 and 2018. Operating results for the three and nine months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the full year ending September 30, 2019. The unaudited interim consolidated financial statements, presented herein, do not contain the required disclosures under GAAP for annual consolidated financial statements. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes as of and for the year ended September 30, 2018 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on December 18, 2018. Reverse stock-split On March 15, 2019, the Company amended its amended and restated certificate of incorporation to implement a one-for-eight reverse stock split of its common stock. As a result of the reverse stock split, the Company adjusted the share amounts under its employee incentive plans, outstanding options, restricted stock units and common stock warrant agreements with third parties. The disclosure of common shares and per common share data in the accompanying consolidated financial statements and related notes reflect the reverse stock split for all periods presented. Use of estimates The preparation of the unaudited interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Due to the uncertainty of factors surrounding the estimates or judgments used in the preparation of the unaudited interim consolidated financial statements, actual results may materially vary from these estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the unaudited interim consolidated financial statements in the period they are determined to be necessary. Net loss per share Basic and diluted net loss per common share is determined by dividing net loss applicable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. For purposes of calculating diluted loss per common share, the denominator includes both the weighted average common shares outstanding and the number of common stock equivalents if the inclusion of such common stock equivalents would be dilutive. Dilutive common stock equivalents potentially include warrants, stock options and non-vested restricted stock unit (“RSU”) awards using the treasury stock method. The diluted loss per common share calculation is further affected by an add-back of change in fair value of warrant liability to the numerator under the assumption that the change in fair value of warrant liability would not have been incurred if the warrants had been converted into common stock. The following table sets forth the computation of basic earnings per share and diluted earnings per share: Three months ended June 30, Nine months ended June 30, 2019 2018 2019 2018 Net loss attributable to common stockholders $ (4,599,012 ) $ (9,084,534 ) $ (25,781,326 ) $ (35,369,093 ) Common stock outstanding (weighted average) 23,007,077 4,317,502 14,787,010 3,552,853 Basic and diluted net loss per share $ (0.20 ) $ (2.10 ) $ (1.74 ) $ (9.96 ) The following potentially dilutive securities (in common stock equivalents) have been excluded from the computation of diluted weighted-average shares outstanding as of June 30, 2019 and 2018, as they would be antidilutive: As of June 30, 2019 2018 Series A convertible preferred stock - 986,644 Series A-1 convertible preferred stock 1,225,172 - Convertible senior secured notes 767,605 - Convertible unsecured notes 149,573 - Performance-based stock units 16,131 18,868 Restricted stock units 3,750 10,410 Stock options 605,452 132,759 Common stock warrants 16,067,923 5,661,561 Recently issued and adopted accounting pronouncements On October 1, 2018, the Company adopted ASU No. 2014-09, Revenue from Contracts with Customers · Contracts with customers · Significant judgments and changes in judgments · Certain assets The Company’s arrangements fall under ASC 808, Collaborations The Company adopted the new accounting standard utilizing the modified retrospective method, and, therefore, no adjustments were made to amounts in its prior period financial statements. The Company recorded the cumulative effect of adopting the standard as an adjustment to increase accumulated deficit by $3.6 million. For the three and nine months ended June 30, 2019, the Company would have recognized $0.3 million and $1.4 million, respectively, of collaboration revenues under revenue recognition guidance in effect during fiscal 2018 prior to the adoption of ASU 2014-09. In February 2016, the FASB issued ASU No. 2016-02, Leases In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”)

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements 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. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: · Level 1 - Quoted prices in active markets for identical assets or liabilities. · Level 2 - Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. · Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis: June 30, 2019 (Level 1) (Level 2) (Level 3) Liabilities Warrant liability $ - $ - $ 428,099 September 30, 2018 (Level 1) (Level 2) (Level 3) Liabilities Warrant liability $ - $ - $ 1,227,225 The table presented below is a summary of changes in the fair value of the Company’s Level 3 valuation for the warrant liability for the nine months ended June 30, 2019: Balance at October 1, 2018 $ 1,227,225 Senior note warrants modification 1,466,710 (i) Change in fair value (2,265,836 ) Balance at June 30, 2019 $ 428,099 (i) In connection with the November 2018 private placement to BioLexis Pte. Ltd. (“BioLexis”), the Company reduced the exercise price of the warrants issued in connection with the senior secured notes (the “Senior Note Warrants”) from $24.00 to $12.00 and extended the expiration of the Senior Note Warrants by three years. Such Senior Note Warrants now expire eight years from their initial exercise date. The Senior Note Warrants issued in connection with the senior secured notes (see Note 7) are classified as liabilities on the accompanying consolidated balance sheet as the Senior Note Warrants include cash settlement features at the option of the holders under certain circumstances. The warrant liability is revalued each reporting period with the change in fair value recorded in the accompanying consolidated statements of operations until the warrants are exercised or expire. The fair value of the warrant liability is estimated using the Black-Scholes option pricing model using the following assumptions: June 30, September 30, 2019 2018 Risk-free interest rate 1.79 % 2.90 % Remaining contractual life of warrant 5.63 years 3.39 years Expected volatility 88 % 82 % Annual dividend yield 0 % 0 % Fair value of common stock $ 2.08 per share $ 7.84 per share

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	5. Property and Equipment, Net Property and equipment, net, consists of: June 30, September 30, 2019 2018 Laboratory equipment $ 14,428,266 $ 14,333,624 Leasehold improvements 10,129,139 10,095,100 Computer software and hardware 497,799 483,807 Land and building 3,000,000 3,000,000 Construction in progress - 2,276,737 28,055,204 30,189,268 Less: accumulated depreciation and amortization (14,134,044 ) (11,699,292 ) $ 13,921,160 $ 18,489,976 Depreciation and amortization expense was $833,387 and $822,059 for the three months ended June 30, 2019 and 2018, respectively, and $ 2,473,005 and $2,229,947 for the nine months ended June 30, 2019 and 2018, respectively. At June 30, 2019, $ 8,002,538 and at September 30, 2018, $7,953,856 represents laboratory equipment under capital leases and the Company’s corporate office that is classified as a capital lease. The Company’s corporate office lease matures in February 2028. The term of the equipment leases are between 12 and 36 months and qualify as capital leases. The equipment leases bear interest between 4.0% and 19.4% and the effective interest rate on the corporate office lease is 43.9%. At June 30, 2019 and September 30, 2018, $2,199,397 and $1,619,741, respectively, of accumulated amortization related to capital leases. The Company wrote off certain construction in progress and laboratory equipment with a carrying amount of $50,926 and $ 2,962,064 during the three and nine months ended June 30, 2019, respectively, due to the Company changing its operations to focus solely on developing and commercializing ONS-5010. The charge was recorded to research and development on the consolidated statements of operations. The Company determined that the carrying amount of these assets was not recoverable and was less than the fair value less the cost to sell.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Jun. 30, 2019
Accrued Expenses [Abstract]
Accrued Expenses	6. Accrued Expenses Accrued expenses consists of: June 30, September 30, 2019 2018 Compensation $ 1,042,905 $ 2,231,122 Severance and related costs 850,934 396,138 Research and development 1,080,594 1,065,169 Interest payable 1,184,329 1,991,044 Professional fees 151,296 313,585 Director fees - 59,122 Other accrued expenses 163,093 402,291 $ 4,473,151 $ 6,458,471

Senior Secured Notes

Senior Secured Notes	9 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Senior Secured Notes	7. Senior Secured Notes June 30, September 30, Convertible senior secured notes $ 6,699,000 $ 13,500,000 Unamortized debt discount - (320,551 ) $ 6,699,000 $ 13,179,449 In September 2017, the Company entered into a purchase and exchange agreement (the “Exchange Agreement”) with two existing investors and holders of its senior secured notes (the “Exchanging Noteholders”), pursuant to which the Exchanging Noteholders exchanged $1.5 million aggregate principal amount of senior secured notes for 1,500,000 shares of Series B convertible preferred stock (“Series B Convertible”) and $41,507 of accrued interest on such exchanged senior secured notes in October 2017. The Company recognized a loss on extinguishment of $1,252,353 in connection with the exchange and represents the excess fair value of the Series B Convertible issued over the net carrying amount of the debt and accrued interest. In November 2018, the Company reached an agreement with the holders of its $13.5 million senior secured notes to extend the maturity of the senior secured notes until December 22, 2019, in exchange for making several payments of principal and interest through August 31, 2019, as well as subject to meeting additional capital raising commitments that the Company met in April 2019 through the completed public offering with gross proceeds of $28.4 million. In addition, the Company agreed to make the senior secured notes convertible into common stock at a price of $8.9539 per share and reduced the exercise price of warrants to purchase 485,245 shares of common stock held by the senior secured noteholders from $24.00 per share to $12.00 per share. The increase in the fair value of the warrants of $1.5 million due to the modification was recorded as additional debt discount. On June 28, 2019, the Company repaid $1.8 million outstanding aggregate principal amount of senior secured notes and entered into a Third Note Amendment (the “Third Amendment”) with the holders of the remaining $6.7 million outstanding aggregate principal amount of senior secured notes. Under the Third Amendment, the maturity date of the senior secured notes was amended to December 22, 2019, and the scheduled payments of principal and interest on or prior to each of June 30, 2019; July 31, 2019; and August 31, 2019 were removed. The Company also agreed to increase the interest rate payable on such senior secured notes to 12.0% per annum from 5.0% per annum. The Third Amendment was accounted for as an extinguishment of debt. During February and March 2019, senior secured notes with a carrying amount of $400,575 and accrued interest of $1,393 were converted into 50,394 shares of the Company’s common stock. uring the nine months ended June 30, 2019, the Company repaid a total of $6.4 million of principal and $1.3 million of accrued interest of such notes. As of June 30, 2019, the senior secured notes remain classified as a current liability because they mature in less than 12 months. Loss on extinguishment of senior secured notes recognized during the three months ended June 30, 2019 was $423,686. Interest expense on the senior secured notes for the three months ended June 30, 2019 and 2018 was $526,615 and $500,012, respectively, and $1,689,533 and $1,486,737 for the nine months ended June 30, 2019 and 2018, respectively.

Stockholder Notes

Stockholder Notes	9 Months Ended
	Jun. 30, 2019
Stockholder Notes [Abstract]
Stockholder Notes	8. Stockholder Notes On March 7, 2019, the Company entered into a Forbearance and Exchange Agreement (the “Agreement”) with Iliad Research and Trading, L.P., a Utah limited partnership (the "Lender"). Concurrently with the execution of this Agreement, the Lender purchased two stockholder notes issued by the Company previously in the original principal amount of $1,000,000 with an aggregate outstanding balance as of March 7, 2019 of $1,947,133 including accrued interest. The stockholder notes were accruing interest at the rate of 2.5% per month. The Lender agreed to refrain and forbear from bringing any action to collect under the stockholder notes until March 7, 2020 and to reduce the interest rates currently in effect to 12.0% per annum simple interest during such forbearance period. The Company also agreed to, at Lender's election, repay or exchange the stockholder notes (or portions thereof) for shares of the Company’s common stock at an exchange rate of $13.44 per share. The Agreement was accounted for as an extinguishment of debt and the Company recorded a loss of $183,554 during the nine months ended June 30, 2019.

Commitments

Commitments	9 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments	9. Commitments Leases In August 2018, the Company entered into a lease termination agreement effective September 1, 2018, to terminate the lease for office and laboratory space in Cranbury, New Jersey. In consideration for the termination of the lease, the Company agreed to make payments to the landlord totaling up to $5.8 million, which includes (i) $287,615 upon execution of the termination agreement, (ii) $50,000 per month for up to 30 months, commencing September 1, 2018, and (iii) a $4.0 million payment, in any event, on or before February 1, 2021. The Company and landlord agreed that the $174,250 security deposit will be used to pay the 7th, 8th, 9th and a portion of the 10th monthly payments. The Company may pay the final $4.0 million payment at any time, whereupon the Company’s obligation to make the remaining monthly payments terminates. At June 30, 2019, the lease termination obligation of $3,895,761 is included in other liabilities on the consolidated balance sheets. A roll forward of the charges incurred to general and administrative expense for the nine months ended June 30, 2019 is as follows: Balance Expensed / Cash Balance Lease termination payments $ 3,850,081 $ 321,430 $ (275,750 ) $ 3,895,761

Common Stock, Convertible Prefe

Common Stock, Convertible Preferred Stock and Stockholders' Equity (Deficit)	9 Months Ended
	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Common Stock, Convertible Preferred Stock and Stockholders' Equity (Deficit)	10. Common Stock, Convertible Preferred Stock and Stockholders’ Equity (Deficit) Common stock During the nine months ended June 30, 2019, the Company issued an aggregate of 2,680,965 shares of the Company’s common stock for gross cash proceeds of $20.0 million ($19.8 million net of issuance costs) pursuant to the November 5, 2018 BioLexis private placement agreement. In April 2019, the Company issued an aggregate of 10,340,000 shares of its common stock, 15-month warrants to purchase up to an aggregate of 10,340,000 shares of common stock and five-year warrants to purchase up to an aggregate of 10,340,000 shares of common stock for approximately $26.2 million in net proceeds after payment of fees, expenses and underwriting discounts and commissions. The shares of common stock and the warrants were immediately separable and were issued separately. The warrants are exercisable immediately at an exercise price of $2.90 per share. During the nine months ended June 30, 2019 and 2018, the Company issued 446 and 102,625 shares of common stock, respectively, upon the vesting of RSUs. Convertible preferred stock In September 2017, the Company entered into a purchase agreement with BioLexis, pursuant to which BioLexis agreed to purchase, in a private placement (the “Initial Private Placement”), $25.0 million of the Company’s newly-created voting Series A Convertible Preferred Stock (the “Series A Convertible”), and warrants (the “BioLexis Warrants”) to acquire 2,093,750 shares of common stock. In September 2017, the Company completed the initial sale of 32,628 shares of Series A Convertible to BioLexis for $3,262,800 in cash. In October 2017, the Company completed the sale of the remaining 217,372 shares of Series A Convertible and the BioLexis Warrants to BioLexis in the Initial Private Placement, for $21,737,200 in cash. The Series A Convertible was initially convertible into 4,724,493 shares of the Company’s common stock, representing an effective conversion rate of $5.28 per share, which represented a discount to the market value of the Company’s common stock as of September 7, 2017 and October 31, 2017 (on which dates, the closing price of the Company’s common stock was $7.20 and $10.08 per share, respectively). In connection with the second closing of the Series A Convertible in October 2017, the Company issued the BioLexis Warrants, which have a term of 8-years and an initial exercise price of $7.20 per share. The proceeds from the second closing of the Series A Convertible were allocated among the Series A Convertible and the BioLexis Warrants based on their relative fair values. As a result of the discount to the market value and the allocation of a portion of the proceeds to the BioLexis Warrants, the Company recognized a beneficial conversion charge of $15,355,019, which represents the in-the-money value of the conversion rate as of the date of sale. The Series A Convertible accrued dividends at a rate of 10% per annum, compounded quarterly, payable quarterly at the Company’s option in cash or in kind in additional shares of Series A Convertible, although the initial dividends payable on the shares of Series A Convertible issued in September 2017, while accruing from issuance, was payable in December 2017. The Series A Convertible was also entitled to dividends on an as-if-converted basis in the same form as any dividends actually paid on shares of common stock or other securities. The initial conversion rate was subject to appropriate adjustment in the event of a stock split, stock dividend, combination, reclassification or other recapitalization affecting the common stock. In June 2018, BioLexis converted 208,836 shares of Series A Convertible into 3,946,577 shares of common stock, and in July 2018 exchanged its remaining shares of Series A Convertible for newly created Series A-1 (as defined below). As of such exchange, there were no longer any shares of Series A Convertible issued and outstanding. Series A-1 Convertible Preferred Stock A total of 200,000 shares of Series A-1 Convertible Preferred Stock (the “Series A-1”) have been authorized for issuance under the Certificate of Designation of Series A-1 Convertible Preferred Stock of the Company. The shares of Series A-1 have a stated value of  $100.00 per share, and rank senior to all junior securities (as defined in the Certificate of Designation). The Series A-1 accrue dividends at a rate of 10% per annum, compounded quarterly, payable quarterly at the Company’s option in cash or in kind in additional shares of Series A-1. The Series A-1 is also entitled to dividends on an as-if-converted basis in the same form as any dividends actually paid on shares of Common Stock or other securities. The initial conversion rate is subject to appropriate adjustment in the event of a stock split, stock dividend, combination, reclassification or other recapitalization affecting the Common Stock. The holders of the Series A-1 have the right to vote on matters submitted to a vote of the Company’s stockholders on an as-converted basis, voting with the Company’s other stockholders as a single class. In addition, without the prior written consent of a majority of the outstanding shares of Series A-1, the Company may not take certain actions, including amending its certificate of incorporation or bylaws, or issuing securities ranking pari passu or senior to the Series A-1. At June 30, 2019, 64,831 shares of Series A-1 Convertible Preferred Stock would be convertible into 1,225,172 shares of common stock. During the nine months ended June 30, 2019, the Company issued 4,628 shares of Series A-1 Convertible to settle the related dividends that are due on a quarterly basis. The terms of the Series A-1 distinguish between certain liquidation events (such as a voluntary or involuntary liquidation, dissolution or winding up of the Company) and “deemed” liquidation events (such as a sale of all or substantially all of the Company’s assets, various merger and reorganization transactions, being delisted from Nasdaq, and the occurrence of an event of default under the terms of the senior secured notes), in each case as defined in the Certificate of Designation. In the event of a liquidation (as defined in the Certificate of Designation), the liquidation preference payable equals the sum of (A) 550% of the Series A-1 stated value per share plus (B) an amount equal to (x) 550% of any accrued, but unpaid, preferred dividends (as defined in the Certificate of Designation) plus (y) any unpaid participating dividends (as defined in the Certificate of Designation). In the case of a deemed liquidation event (as defined in the Certificate of Designation), the multiplier is increased to 600%. The Series A-1 is convertible at any time at the option of the holder based on the then applicable conversion rate. If conversion is in connection with a liquidation, the holder is entitled to receive 550% of the number of shares of common stock issuable based upon the then applicable conversion rate. In the event of a deemed liquidation event, the multiplier is increased to 600%. Additionally, the holder may irrevocably require the Company to redeem the Series A-1 in the event of a deemed liquidation event for the sum of (A) 600% of the Series A-1 stated value per share plus (B) an amount equal to (x) 600% of any accrued, but unpaid, preferred dividends plus (y) any unpaid participating dividends, although such redemption may not be made without the consent of the senior secured noteholders if such notes are outstanding at the time of any such redemption. The shares of Series A-1 have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act. The exchange of the Series A-1 for the shares of Series A held by the Investor was made in reliance on Sections 3(a)(9) and 4(a)(2) under the Securities Act, without general solicitation or advertising. Series B Convertible Preferred Stock Concurrent with completing the sale of Series A Convertible in October 2017, the Noteholders exchanged $1,500,000 in aggregate principal borrowings and $41,507 in accrued interest for 1,500,000 shares of Series B Convertible. The Series B Convertible were convertible into 264,084 shares of common stock. The exchange was accounted for as an extinguishment of debt, See Note 7. During May and June 2018, the Noteholders converted all 1,500,000 shares of Series B Convertible into 264,084 shares of common stock. Accordingly, there are no longer any shares of Series B Convertible issued and outstanding. Common stock warrants As of June 30, 2019, shares of common stock issuable upon the exercise of outstanding warrants were as follows: Expiration Date Shares of Exercise Price November 11, 2019 99,910 $ 0.08 July 12, 2020 68,250 $ 2.90 February 18, 2022 416,666 $ 12.00 (i) April 24, 2024 10,340,000 $ 2.90 December 22, 2024 277,122 $ 12.00 (ii) April 13, 2025 145,686 $ 12.00 (ii) May 31, 2025 62,437 $ 12.00 (ii) October 31, 2025 2,093,750 $ 7.20 May 10, 2026 1,282,051 $ 7.80 June 8, 2026 1,282,051 $ 7.80 16,067,923 (i) In January 2019, the Company reduced the exercise price of these warrants from $52.80 to $12.00 and further extended the exercise period from February 18, 2019 to February 18, 2022. (ii) In November 2018, the Company reduced the exercise price of the warrants issued in connection with its senior secured notes from $24.00 to $12.00 and extended the expiration of the Senior Note Warrants by three years. During the nine months ended June 30, 2019, warrants to purchase an aggregate of 10,273,086 shares of common stock with a weighted averaged exercise price of $2.90 were exercised for an aggregate 6,134,307 shares of the Company’s common stock. Of these exercised warrants, 10,270,250 of them were 15-month warrants issued in our April 2019 public offering that were exercised pursuant to the net exercise provisions therein providing for the receipt of .60 of the underlying shares in the event the weighted average price per share of the Company’s common stock is lower than the exercise price per share beginning May 12, 2019.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	11. Stock-Based Compensation 2011 Equity Incentive Plan The Company’s 2011 Equity Compensation Plan (the “2011 Plan”) provided for the Company to sell or issue restricted common stock, RSUs, performance-based awards (“PSUs”), cash-based awards or to grant stock options for the purchase of common stock to officers, employees, consultants and directors of the Company. The 2011 Plan was administered by the board of directors or, at the discretion of the board of directors, by a committee of the board. The number of shares of common stock reserved for issuance under the 2011 Plan is 106,490. As of June 30, 2019, PSUs representing 16,131 shares of the Company’s common stock were outstanding under the 2011 Plan. In light of the December 2015 adoption of the 2015 Equity Incentive Plan, (the “2015 Plan”) no future awards under the 2011 Plan will be granted. 2015 Equity Incentive Plan In December 2015, the Company adopted the 2015 Plan. The 2015 Plan provides for the grant of stock options, stock appreciation rights, restricted stock awards, RSU awards, performance stock awards and other forms of equity compensation to Company employees, directors and consultants. The aggregate number of shares of common stock authorized for issuance pursuant to the Company’s 2015 Plan is 1,369,596. As of June 30, 2019, 592,164 shares remained available for grant under the 2015 Plan. Stock options and RSUs are granted under the Company’s 2015 Plan and generally vest over a period of two to four years from the date of grant and, in the case of stock options, have a term of 10 years. The Company recognizes the grant date fair value of each option and share of RSU over its vesting period. The Company recorded stock-based compensation expense (income) in the following expense categories of its statements of operations for the three and nine months ended June 30, 2019 and 2018: Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Research and development $ (207,015 ) $ 86,872 $ 4,957 $ 2,079 General and administrative 175,750 147,247 1,103,809 1,821,649 $ (31,265 ) $ 234,119 $ 1,108,766 $ 1,823,728 During the nine months ended June 30, 2019, the Company awarded stock options with a fair value of $49,121 as settlement for directors fees accrued as of September 30, 2018. Stock options As of June 30, 2019, options to purchase common stock of the Company outstanding under the 2015 Plan were as follows: Weighted Average Weighted Remaining Number of Average Contractual Shares Exercise Price Term (Years) Balance at October 1, 2018 182,120 $ 7.22 Granted 649,498 6.32 Expired (18,125 ) 7.90 Forfeited (208,041 ) 8.42 Balance at June 30, 2019 605,452 5.82 9.5 Vested and exercisable 150,232 7.21 9.1 Vested and expected to vest at June 30, 2019 605,452 $ 5.82 9.5 As of June 30, 2019, the aggregate intrinsic value of options outstanding was zero. The aggregate intrinsic value represents the total amount by which the fair value of the common stock subject to options exceeds the exercise price of the related options. The weighted average grant date fair value of the options awarded to employees for the nine months ended June 30, 2019 and 2018 was $4.70 and $4.16 per option, respectively. The fair value of the options was estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions: Nine Months Ended June 30, 2019 2018 Risk-free interest rate 2.46 % 2.72 % Expected life (years) 6.00 5.99 Expected volatility 89.5 % 61.0 % Expected dividend yield - - As of June 30, 2019, there was $1,594,998 of unrecognized compensation expense that is expected to be recognized over a weighted-average period of 3.4 years. Performance-based stock units The Company has issued PSUs, which generally have a ten year life from the date of grant. Upon exercise, the PSU holder receives common stock or cash at the Company’s discretion. The following table summarizes the activity related to PSUs during the nine months ended June 30, 2019: Weighted Average Number Base Remaining of Price Contractual PSUs Per PSU Term (Years) Balance at October 1, 2018 16,131 $ 49.99 Forfeitures - - Balance at June 30, 2019 16,131 49.99 5.0 Vested and exercisable at June 30, 2019 16,113 49.86 5.0 Vested and expected to vest at June 30, 2019 16,131 $ 49.99 5.0 Restricted stock units The following table summarizes the activity related to RSUs during the nine months ended June 30, 2019: Weighted Number Average of Grant Date RSUs Fair Value Balance at October 1, 2018 7,638 $ 153.88 Vested and settled (446 ) 188.36 Forfeitures (3,442 ) 68.92 Balance at June 30, 2019 3,750 $ 227.78 As of June 30, 2019, there was $74,417 of unamortized expense that will be recognized over a weighted-average period of 0.22 years.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related-Party Transactions	12. Related-Party Transactions MTTR — Strategic Partnership Agreement (ONS-5010) In November 2018, the (“MTTR”) In February 2018, the Company entered into a strategic partnership agreement with MTTR to advise on regulatory, clinical and commercial strategy and assist in obtaining approval of ONS-5010, the Company’s bevacizumab therapeutic product candidate for ophthalmic indications. MTTR earned an aggregate of $ , which includes monthly consulting fees and expense reimbursement.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited interim consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). In the opinion of management, the accompanying unaudited interim consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the financial statements) considered necessary to present fairly the Company’s financial position as of June 30, 2019 and its results of operations for the three and nine months ended June 30, 2019 and 2018 and cash flows for the nine months ended June 30, 2019 and 2018. Operating results for the three and nine months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the full year ending September 30, 2019. The unaudited interim consolidated financial statements, presented herein, do not contain the required disclosures under GAAP for annual consolidated financial statements. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes as of and for the year ended September 30, 2018 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on December 18, 2018.
Reverse stock-split	Reverse stock-split On March 15, 2019, the Company amended its amended and restated certificate of incorporation to implement a one-for-eight reverse stock split of its common stock. As a result of the reverse stock split, the Company adjusted the share amounts under its employee incentive plans, outstanding options, restricted stock units and common stock warrant agreements with third parties. The disclosure of common shares and per common share data in the accompanying consolidated financial statements and related notes reflect the reverse stock split for all periods presented.
Use of estimates	Use of estimates The preparation of the unaudited interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Due to the uncertainty of factors surrounding the estimates or judgments used in the preparation of the unaudited interim consolidated financial statements, actual results may materially vary from these estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the unaudited interim consolidated financial statements in the period they are determined to be necessary.
Net loss per share	Net loss per share Basic and diluted net loss per common share is determined by dividing net loss applicable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. For purposes of calculating diluted loss per common share, the denominator includes both the weighted average common shares outstanding and the number of common stock equivalents if the inclusion of such common stock equivalents would be dilutive. Dilutive common stock equivalents potentially include warrants, stock options and non-vested restricted stock unit (“RSU”) awards using the treasury stock method. The diluted loss per common share calculation is further affected by an add-back of change in fair value of warrant liability to the numerator under the assumption that the change in fair value of warrant liability would not have been incurred if the warrants had been converted into common stock. The following table sets forth the computation of basic earnings per share and diluted earnings per share: Three months ended June 30, Nine months ended June 30, 2019 2018 2019 2018 Net loss attributable to common stockholders $ (4,599,012 ) $ (9,084,534 ) $ (25,781,326 ) $ (35,369,093 ) Common stock outstanding (weighted average) 23,007,077 4,317,502 14,787,010 3,552,853 Basic and diluted net loss per share $ (0.20 ) $ (2.10 ) $ (1.74 ) $ (9.96 ) The following potentially dilutive securities (in common stock equivalents) have been excluded from the computation of diluted weighted-average shares outstanding as of June 30, 2019 and 2018, as they would be antidilutive: As of June 30, 2019 2018 Series A convertible preferred stock - 986,644 Series A-1 convertible preferred stock 1,225,172 - Convertible senior secured notes 767,605 - Convertible unsecured notes 149,573 - Performance-based stock units 16,131 18,868 Restricted stock units 3,750 10,410 Stock options 605,452 132,759 Common stock warrants 16,067,923 5,661,561
Recently issued and adopted accounting pronouncements	Recently issued and adopted accounting pronouncements On October 1, 2018, the Company adopted ASU No. 2014-09, Revenue from Contracts with Customers · Contracts with customers · Significant judgments and changes in judgments · Certain assets The Company’s arrangements fall under ASC 808, Collaborations The Company adopted the new accounting standard utilizing the modified retrospective method, and, therefore, no adjustments were made to amounts in its prior period financial statements. The Company recorded the cumulative effect of adopting the standard as an adjustment to increase accumulated deficit by $3.6 million. For the three and nine months ended June 30, 2019, the Company would have recognized $0.3 million and $1.4 million, respectively, of collaboration revenues under revenue recognition guidance in effect during fiscal 2018 prior to the adoption of ASU 2014-09. In February 2016, the FASB issued ASU No. 2016-02, Leases In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”)

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Schedule of computation of basic earnings per share and diluted earnings per share	Three months ended June 30, Nine months ended June 30, 2019 2018 2019 2018 Net loss attributable to common stockholders $ (4,599,012 ) $ (9,084,534 ) $ (25,781,326 ) $ (35,369,093 ) Common stock outstanding (weighted average) 23,007,077 4,317,502 14,787,010 3,552,853 Basic and diluted net loss per share $ (0.20 ) $ (2.10 ) $ (1.74 ) $ (9.96 )
Schedule of dilutive securities excluded from the computation weighted-average shares	As of June 30, 2019 2018 Series A convertible preferred stock - 986,644 Series A-1 convertible preferred stock 1,225,172 - Convertible senior secured notes 767,605 - Convertible unsecured notes 149,573 - Performance-based stock units 16,131 18,868 Restricted stock units 3,750 10,410 Stock options 605,452 132,759 Common stock warrants 16,067,923 5,661,561

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	June 30, 2019 (Level 1) (Level 2) (Level 3) Liabilities Warrant liability $ - $ - $ 428,099 September 30, 2018 (Level 1) (Level 2) (Level 3) Liabilities Warrant liability $ - $ - $ 1,227,225
Schedule of changes in the fair value of Level 3 valuation for the warrant liability	Balance at October 1, 2018 $ 1,227,225 Senior note warrants modification 1,466,710 (i) Change in fair value (2,265,836 ) Balance at June 30, 2019 $ 428,099 (i) In connection with the November 2018 private placement to BioLexis Pte. Ltd. (“BioLexis”), the Company reduced the exercise price of the warrants issued in connection with the senior secured notes (the “Senior Note Warrants”) from $24.00 to $12.00 and extended the expiration of the Senior Note Warrants by three years. Such Senior Note Warrants now expire eight years from their initial exercise date.
Schedule of fair value of the warrant liability	June 30, September 30, 2019 2018 Risk-free interest rate 1.79 % 2.90 % Remaining contractual life of warrant 5.63 years 3.39 years Expected volatility 88 % 82 % Annual dividend yield 0 % 0 % Fair value of common stock $ 2.08 per share $ 7.84 per share

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	June 30, September 30, 2019 2018 Laboratory equipment $ 14,428,266 $ 14,333,624 Leasehold improvements 10,129,139 10,095,100 Computer software and hardware 497,799 483,807 Land and building 3,000,000 3,000,000 Construction in progress - 2,276,737 28,055,204 30,189,268 Less: accumulated depreciation and amortization (14,134,044 ) (11,699,292 ) $ 13,921,160 $ 18,489,976

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Jun. 30, 2019
Accrued Expenses [Abstract]
Schedule of accrued expenses	June 30, September 30, 2019 2018 Compensation $ 1,042,905 $ 2,231,122 Severance and related costs 850,934 396,138 Research and development 1,080,594 1,065,169 Interest payable 1,184,329 1,991,044 Professional fees 151,296 313,585 Director fees - 59,122 Other accrued expenses 163,093 402,291 $ 4,473,151 $ 6,458,471

Senior Secured Notes (Tables)

Senior Secured Notes (Tables)	9 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of senior secured note	June 30, September 30, Convertible senior secured notes $ 6,699,000 $ 13,500,000 Unamortized debt discount - (320,551 ) $ 6,699,000 $ 13,179,449

Commitments (Tables)

Commitments (Tables)	9 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of of lease termination obligation	Balance Expensed / Cash Balance Lease termination payments $ 3,850,081 $ 321,430 $ (275,750 ) $ 3,895,761

Common Stock, Convertible Pre_2

Common Stock, Convertible Preferred Stock and Stockholders' Equity (Deficit) (Tables)	9 Months Ended
	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of warrants outstanding	Expiration Date Shares of Exercise Price November 11, 2019 99,910 $ 0.08 July 12, 2020 68,250 $ 2.90 February 18, 2022 416,666 $ 12.00 (i) April 24, 2024 10,340,000 $ 2.90 December 22, 2024 277,122 $ 12.00 (ii) April 13, 2025 145,686 $ 12.00 (ii) May 31, 2025 62,437 $ 12.00 (ii) October 31, 2025 2,093,750 $ 7.20 May 10, 2026 1,282,051 $ 7.80 June 8, 2026 1,282,051 $ 7.80 16,067,923 (i) In January 2019, the Company reduced the exercise price of these warrants from $52.80 to $12.00 and further extended the exercise period from February 18, 2019 to February 18, 2022. (ii) In November 2018, the Company reduced the exercise price of the warrants issued in connection with its senior secured notes from $24.00 to $12.00 and extended the expiration of the Senior Note Warrants by three years.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock-based compensation expense	Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Research and development $ (207,015 ) $ 86,872 $ 4,957 $ 2,079 General and administrative 175,750 147,247 1,103,809 1,821,649 $ (31,265 ) $ 234,119 $ 1,108,766 $ 1,823,728
Schedule of options to purchase common stock of Company outstanding under 2015 Plan	Weighted Average Weighted Remaining Number of Average Contractual Shares Exercise Price Term (Years) Balance at October 1, 2018 182,120 $ 7.22 Granted 649,498 6.32 Expired (18,125 ) 7.90 Forfeited (208,041 ) 8.42 Balance at June 30, 2019 605,452 5.82 9.5 Vested and exercisable 150,232 7.21 9.1 Vested and expected to vest at June 30, 2019 605,452 $ 5.82 9.5
Schedule of assumptions under fair value of options estimated on the date of grant using a Black-Scholes option pricing model	Nine Months Ended June 30, 2019 2018 Risk-free interest rate 2.46 % 2.72 % Expected life (years) 6.00 5.99 Expected volatility 89.5 % 61.0 % Expected dividend yield - -
Schedule of performance-based stock units activity	Weighted Average Number Base Remaining of Price Contractual PSUs Per PSU Term (Years) Balance at October 1, 2018 16,131 $ 49.99 Forfeitures - - Balance at June 30, 2019 16,131 49.99 5.0 Vested and exercisable at June 30, 2019 16,113 49.86 5.0 Vested and expected to vest at June 30, 2019 16,131 $ 49.99 5.0
Schedule of restricted stock units activity	Weighted Number Average of Grant Date RSUs Fair Value Balance at October 1, 2018 7,638 $ 153.88 Vested and settled (446 ) 188.36 Forfeitures (3,442 ) 68.92 Balance at June 30, 2019 3,750 $ 227.78

Liquidity (Detail Textuals)

Liquidity (Detail Textuals) - USD ($)	1 Months Ended
	Jul. 31, 2019	Apr. 30, 2019	Nov. 30, 2018	Jun. 30, 2019	Sep. 30, 2018
Liquidity [Line Items]
Accumulated deficit				$ (244,384,145)	$ (216,307,363)
Secured notes				6,700,000
Unsecured notes				3,600,000
Sale of unused net operating losses and research and development tax credits			$ 3,700,000
Proceeds from sale of net operating losses and research and development tax credits			$ 3,400,000
Proceeds received from net operating losses and research and development tax credits		$ 800,000
Forbearance agreement
Liquidity [Line Items]
Unsecured notes				$ 1,000,000
Subsequent Event
Liquidity [Line Items]
Proceeds received from net operating losses and research and development tax credits	$ 2,600,000

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Basic and diluted earnings per share:
Net loss attributable to common stockholders	$ (4,599,012)	$ (9,084,534)	$ (25,781,326)	$ (35,369,093)
Common stock outstanding (weighted average)	23,007,077	4,317,502	14,787,010	3,552,853
Basic and diluted net loss per share (in dollars per share)	$ (0.20)	$ (2.10)	$ (1.74)	$ (9.96)

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies (Details 1) - shares	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Series A convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	0	986,644
Series A-1 convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,225,172	0
Convertible senior secured notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	767,605	0
Convertible unsecured notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	149,573	0
Performance-based stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	16,131	18,868
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	3,750	10,410
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	605,452	132,759
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	16,067,923	5,661,561

Basis of Presentation and Sum_6

Basis of Presentation and Summary of Significant Accounting Policies (Detail Textuals)	3 Months Ended	9 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Cumulative effect of adoption of ASU 2014-09 (Topic 606)	$ 3,649,258	$ 3,649,258
Collaboration revenues under revenue recognition guidance	300,000	1,400,000
Accumulated Deficit
Cumulative effect of adoption of ASU 2014-09 (Topic 606)	$ 3,649,258	$ 3,649,258

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2019	Sep. 30, 2018
Liabilities
Warrant liability	$ 428,099	$ 1,227,225
Fair value measurements recurring basis | Level 1
Liabilities
Warrant liability	0	0
Fair value measurements recurring basis | Level 2
Liabilities
Warrant liability	0	0
Fair value measurements recurring basis | Level 3
Liabilities
Warrant liability	$ 428,099	$ 1,227,225

Fair Value Measurements (Deta_2

Fair Value Measurements (Details 1) - Warrant	9 Months Ended
	Jun. 30, 2019USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at October 1, 2018	$ 1,227,225
Senior note warrants modification	1,466,710	[1]
Change in fair value	(2,265,836)
Balance at June 30, 2019	$ 428,099
[1]	In connection with the November 2018 private placement to BioLexis Pte. Ltd. ("BioLexis"), the Company reduced the exercise price of the warrants issued in connection with the senior secured notes (the "Senior Note Warrants") from $24.00 to $12.00 and extended the expiration of the Senior Note Warrants by three years. Such Senior Note Warrants now expire eight years from their initial exercise date.

Fair Value Measurements (Deta_3

Fair Value Measurements (Details 2)	Jun. 30, 2019PercentPrice_Per_Share	Sep. 30, 2018PercentPrice_Per_Share
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant inputs	1.79	2.90
Remaining contractual life of warrant
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term	5 years 7 months 17 days	3 years 4 months 21 days
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant inputs	88	82
Annual dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant inputs	0	0
Fair value of common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant inputs | Price_Per_Share	2.08	7.84

Fair Value Measurements (Deta_4

Fair Value Measurements (Detail Textuals) - Private Placement - BioLexis - Senior Note Warrants	1 Months Ended
	Nov. 30, 2018$ / shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exercise price per share	$ 24
Reduced exercise price of warrants	$ 12
Extended expiration term of senior note warrants	3 years
Terms of warrant expiration	8 years

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($)	Jun. 30, 2019	Sep. 30, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 28,055,204	$ 30,189,268
Less: accumulated depreciation and amortization	(14,134,044)	(11,699,292)
Property and equipment, net	13,921,160	18,489,976
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,428,266	14,333,624
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,129,139	10,095,100
Computer software and hardware
Property, Plant and Equipment [Line Items]
Property and equipment, gross	497,799	483,807
Land and building
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,000,000	3,000,000
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 0	$ 2,276,737

Property and Equipment, Net (_2

Property and Equipment, Net (Detail Textuals) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 833,387	$ 822,059	$ 2,473,005	$ 2,229,947
Corporate office, interest rate			43.90%
Carrying amount of equipment written off			$ (2,962,064)
Laboratory Equipment
Property, Plant and Equipment [Line Items]
Laboratory equipment under capital leases	8,002,538		8,002,538		$ 7,953,856
Accumulated amortization related to capital leases	$ 2,199,397		2,199,397		$ 1,619,741
Laboratory Equipment | Minimum
Property, Plant and Equipment [Line Items]
Term of capital leases	12 months
Capital leases interest rate	4.00%
Laboratory Equipment | Maximum
Property, Plant and Equipment [Line Items]
Term of capital leases	36 months
Capital leases interest rate	19.40%
Construction in progress and laboratory equipment
Property, Plant and Equipment [Line Items]
Carrying amount of equipment written off	$ 50,926		$ 2,962,064

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Jun. 30, 2019	Sep. 30, 2018
Accrued Liabilities, Current [Abstract]
Compensation	$ 1,042,905	$ 2,231,122
Severance and related costs	850,934	396,138
Research and development	1,080,594	1,065,169
Interest payable	1,184,329	1,991,044
Professional fees	151,296	313,585
Director fees	0	59,122
Other accrued expenses	163,093	402,291
Accrued expenses, total	$ 4,473,151	$ 6,458,471

Senior Secured Notes (Details)

Senior Secured Notes (Details) - USD ($)	Jun. 30, 2019	Sep. 30, 2018
Debt Instrument [Line Items]
Senior secured notes	$ 6,699,000	$ 13,179,449
Senior secured notes (the "Noteholders")
Debt Instrument [Line Items]
Convertible senior secured notes	6,699,000	13,500,000
Unamortized debt discount	0	(320,551)
Senior secured notes	$ 6,699,000	$ 13,179,449

Senior Secured Notes (Detail Te

Senior Secured Notes (Detail Textuals)	1 Months Ended				3 Months Ended		9 Months Ended
	Jun. 28, 2019USD ($)	Mar. 31, 2019USD ($)shares	Nov. 30, 2018USD ($)$ / sharesshares	Sep. 30, 2017USD ($)Investorshares	Jun. 30, 2019USD ($)shares	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)shares	Jun. 30, 2018USD ($)	Oct. 31, 2017USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt					$ (423,686)		$ (607,240)	$ (1,252,353)
Number of common stock called by warrants | shares					16,067,923		16,067,923
Series B convertible preferred stock ("Series B Convertible")
Debt Instrument [Line Items]
Accrued interest									$ 41,507
Senior secured notes (the "Noteholders")
Debt Instrument [Line Items]
Aggregate principal amount of senior secured notes		$ 400,575
Number of preferred shares issued upon conversion of debt | shares		50,394
Repayment of principal amount	$ 1,800,000	$ 6,400,000
Repayments of accrued interest		1,300,000
Accrued interest		$ 1,393
Interest expense					$ 526,615	$ 500,012	$ 1,689,533	$ 1,486,737
Outstanding principal amount of convertible debt	$ 6,700,000
Senior secured notes (the "Noteholders") | Minimum
Debt Instrument [Line Items]
Interest rate payable on senior secured notes	5.00%
Senior secured notes (the "Noteholders") | Maximum
Debt Instrument [Line Items]
Interest rate payable on senior secured notes	12.00%
Purchase and exchange agreement (the "Exchange Agreement") | Series B convertible preferred stock ("Series B Convertible")
Debt Instrument [Line Items]
Number of preferred shares issued upon conversion of debt | shares				1,500,000
Purchase and exchange agreement (the "Exchange Agreement") | Senior secured notes (the "Noteholders")
Debt Instrument [Line Items]
Number of existing investors and holders | Investor				2
Aggregate principal amount of senior secured notes				$ 1,500,000
Accrued interest on debt conversion				41,507
Loss on extinguishment of debt				$ 1,252,353
Senior secured notes, principal amount			$ 13,500,000
Proceeds from issuance initial public offering			$ 28,400,000
Common stock price per share | $ / shares			$ 8.9539
Number of common stock called by warrants | shares			485,245
Additional debt discount			$ 1,500,000
Private Placement | Senior secured notes (the "Noteholders") | BioLexis
Debt Instrument [Line Items]
Exercise price per share | $ / shares			$ 24
Reduced exercise price of the warrants | $ / shares			$ 12

Stockholder Notes (Detail Textu

Stockholder Notes (Detail Textuals) - USD ($)	Mar. 07, 2019	Jun. 30, 2019	Sep. 30, 2018
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Common stock price per share		$ 0.01	$ 0.01
Forbearance and exchange agreement | Iliad Research and Trading, L.P., | Stockholder note
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Original principal amount	$ 1,000,000
Outstanding balance including accrued interest	$ 1,947,133
Rate of accruing interest per month	2.50%
Interest rate	12.00%
Common stock price per share	$ 13.44
Loss on extinguishment of debt		$ 183,554

Commitments (Details)

Commitments (Details)	9 Months Ended
	Jun. 30, 2019USD ($)
Lease Termination Obligation [Roll Forward]
Lease termination payments, Balance October 1, 2018	$ 3,850,081
Expensed /accrued expense	321,430
Cash payments	(275,750)
Lease termination payments, Balance June 30, 2019	$ 3,895,761

Commitments (Detail Textuals)

Commitments (Detail Textuals) - USD ($)	1 Months Ended
	Aug. 31, 2018	Jun. 30, 2019	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Consideration for termination of lease	$ 5,800,000
Amount of execution of termination agreement	287,615
Payment for lease per month	$ 50,000
Terms of payment for lease	30 months
Lease payment in any event	$ 4,000,000
Date of payment	Feb. 1, 2021
Security deposit	$ 174,250
Final payment of lease obligation	$ 4,000,000
Lease termination payments included in other liabilities on the consolidated balance sheets		$ 3,895,761	$ 3,850,081

Common Stock, Convertible Pre_3

Common Stock, Convertible Preferred Stock and Stockholders' Equity (Deficit) (Details)	Jun. 30, 2019$ / sharesshares
Class of Warrant or Right [Line Items]
Shares of common stock issuable upon exercise of warrants	16,067,923
November 11, 2019
Class of Warrant or Right [Line Items]
Shares of common stock issuable upon exercise of warrants	99,910
Exercise Price Per Share | $ / shares	$ 0.08
July 12, 2020
Class of Warrant or Right [Line Items]
Shares of common stock issuable upon exercise of warrants	68,250
Exercise Price Per Share | $ / shares	$ 2.90
February 18, 2022
Class of Warrant or Right [Line Items]
Shares of common stock issuable upon exercise of warrants	416,666
Exercise Price Per Share | $ / shares	$ 12	[1]
April 24, 2024
Class of Warrant or Right [Line Items]
Shares of common stock issuable upon exercise of warrants	10,340,000
Exercise Price Per Share | $ / shares	$ 2.90
December 22, 2024
Class of Warrant or Right [Line Items]
Shares of common stock issuable upon exercise of warrants	277,122
Exercise Price Per Share | $ / shares	$ 12	[2]
April 13, 2025
Class of Warrant or Right [Line Items]
Shares of common stock issuable upon exercise of warrants	145,686
Exercise Price Per Share | $ / shares	$ 12	[2]
May 31, 2025
Class of Warrant or Right [Line Items]
Shares of common stock issuable upon exercise of warrants	62,437
Exercise Price Per Share | $ / shares	$ 12	[2]
October 31, 2025
Class of Warrant or Right [Line Items]
Shares of common stock issuable upon exercise of warrants	2,093,750
Exercise Price Per Share | $ / shares	$ 7.20
May 10, 2026
Class of Warrant or Right [Line Items]
Shares of common stock issuable upon exercise of warrants	1,282,051
Exercise Price Per Share | $ / shares	$ 7.80
June 8, 2026
Class of Warrant or Right [Line Items]
Shares of common stock issuable upon exercise of warrants	1,282,051
Exercise Price Per Share | $ / shares	$ 7.80
[1]	In January 2019, the Company reduced the exercise price of these warrants from $52.80 to $12.00 and further extended the exercise period from February 18, 2019 to February 18, 2022.
[2]	In November 2018, the Company reduced the exercise price of the warrants issued in connection with its senior secured notes from $24.00 to $12.00 and extended the expiration of the Senior Note Warrants by three years.

Common Stock, Convertible Pre_4

Common Stock, Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parentheticals) (Details) - $ / shares	1 Months Ended
	Jan. 31, 2019	Nov. 30, 2018
Series A warrants
Class of Warrant or Right [Line Items]
Exercise price of warrants issued for common stock	$ 52.80
Reduced exercise price of the warrants	$ 12
Senior note warrants issued with senior secured notes
Class of Warrant or Right [Line Items]
Exercise price of warrants issued for common stock		$ 24
Reduced exercise price of the warrants		$ 12
Term of warrant		3 years

Common Stock, Convertible Pre_5

Common Stock, Convertible Preferred Stock and Stockholders' Equity (Deficit) (Detail Textuals) - USD ($)	1 Months Ended				3 Months Ended	9 Months Ended
	Apr. 30, 2019	Nov. 30, 2018	Oct. 31, 2017	Sep. 30, 2017	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 07, 2017
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Value of shares issued in cash					$ 0		$ 6,382,181
Number of common stock called by warrants						16,067,923
Series A convertible preferred stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Value of shares issued in cash							$ 14,265,861
Number of share issued							217,372
Conversion of Series A convertible preferred stock into common stock (in shares)					(208,836)		(208,836)
Common Stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Issuance of vested restricted stock units (in shares)					1,811	446	102,625
Conversion of Series A convertible preferred stock into common stock (in shares)					3,946,577		3,946,577
Warrant
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Proceeds from issuance of private placement	$ 26,200,000
Number of common stock called by warrants	10,340,000	10,273,086
Number of share issued		6,134,307
Term of warrant	5 years	15 months
Exercise price of warrants		$ 2.90
Purchase of warrant	10,340,000
Warrant exercise price (in dollares per share)	$ 2.90
BioLexis | Series A convertible preferred stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Number of Series A convertible stock converted						208,836
Number of common stock issued upon conversion						3,946,577
Purchase Agreement | Common Stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Number of share issued	10,340,000
Term of warrant	15 months
Purchase Agreement | BioLexis | Common Stock | Series A convertible preferred stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Convertible preferred stock, shares issued upon conversion						4,724,493
Conversion rate per share						$ 5.28
IPO | Purchase Agreement | BioLexis | Series A convertible preferred stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Number of share issued				32,628
Proceeds from issuance of Series A convertible preferred stock				$ 3,262,800
Dividend rate						10.00%
Private Placement
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Value of shares issued in cash					$ 14,856,088	$ 19,808,317	$ 14,856,088
Private Placement | Common Stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Value of shares issued in cash					$ 15,943	$ 26,804	$ 15,943
Number of share issued					1,594,345	2,680,390	1,594,345
Private Placement | Purchase Agreement | BioLexis
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Sale of stock, number of shares issued in transaction (in shares)						2,680,965
Proceeds from issuance of private placement						$ 20,000,000
Issuance cost from private placement						$ 19,800,000
Private Placement | Purchase Agreement | BioLexis | Series A Convertible Preferred Stock and BioLexis Warrants
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Sale of stock, number of shares issued in transaction (in shares)			217,372
Cash received upon sale of Series A Convertible and GMS Tenshi Warrants			$ 21,737,200
Term of warrant			8 years
Exercise price of warrants			$ 7.20
Convertible preferred stock, beneficial conversion charge			$ 15,355,019
Private Placement | Purchase Agreement | BioLexis | Series A convertible preferred stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Value of shares issued in cash				$ 25,000,000
Number of common stock called by warrants				2,093,750
Closing price of common stock			$ 10.08					$ 7.20

Common Stock, Convertible Pre_6

Common Stock, Convertible Preferred Stock and Stockholders' Equity (Deficit) (Detail Textuals 1) - $ / shares	3 Months Ended	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Preferred stock, stated value (in dollars per share)	$ 0.01	$ 0.01		$ 0.01
Series A-1 convertible preferred stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Convertible preferred stock dividends and related settlement	1,581	4,628
Convertible preferred stock, shares issued	64,831	64,831		60,203
Antidilutive securities excluded from computation of earnings per share		1,225,172	0
Series A convertible preferred stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Number of share issued			217,372
Convertible preferred stock dividends and related settlement			11,045
Convertible preferred stock, shares issued	0	0		0
Antidilutive securities excluded from computation of earnings per share		0	986,644
Purchase and exchange agreement (the "Exchange Agreement") | BioLexis | Series A-1 convertible preferred stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Series A-1 authorized for issuance	200,000	200,000
Preferred stock, stated value (in dollars per share)	$ 100	$ 100
Dividend rate		10.00%
Liquidation preference description		The liquidation preference payable equals the sum of (A) 550% of the Series A-1 stated value per share plus (B) an amount equal to (x) 550% of any accrued, but unpaid, preferred dividends (as defined in the Certificate of Designation) plus (y) any unpaid participating dividends (as defined in the Certificate of Designation). In the case of a deemed liquidation event (as defined in the Certificate of Designation), the multiplier is increased to 600%.
Percentage of stated value per share of preferred stock liquidation preference payable		550.00%
Percentage of accrued but unpaid preferred dividends		550.00%
Percentage increase in multiplier in case of deemed liquidation		600.00%
Deemed liquidation event description		Additionally, the holder may irrevocably require the Company to redeem the Series A-1 in the event of a deemed liquidation event for the sum of (A) 600% of the Series A-1 stated value per share plus (B) an amount equal to (x) 600% of any accrued, but unpaid, preferred dividends plus (y) any unpaid participating dividends, although such redemption may not be made without the consent of the senior secured noteholders if such notes are outstanding at the time of any such redemption.

Common Stock, Convertible Pre_7

Common Stock, Convertible Preferred Stock and Stockholders' Equity (Deficit) (Detail Textuals 2) - USD ($)	1 Months Ended			3 Months Ended	9 Months Ended
	Apr. 30, 2019	Nov. 30, 2018	Oct. 31, 2017	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2019
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Stock issued during period for conversion of convertible securities				$ 14,359,816	$ 14,359,816
Number of warrants issued						16,067,923
Warrant
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Number of warrants issued	10,340,000	10,273,086
Exercise price per share		$ 2.90
Excercised warrant to common stock		6,134,307
Number of warrant exercised		10,270,250
Term of warrant	5 years	15 months
Series B convertible preferred stock
Convertible Preferred Stock And Stockholders' Equity (Deficit) [Line Items]
Stock issued during period for conversion of convertible securities			$ 1,500,000	$ (2,661,972)	$ (2,661,972)
Conversion of Series A convertible preferred stock into common stock (in shares)			1,500,000	(1,500,000)	(1,500,000)
Accrued interest			$ 41,507
Number of stock converted					1,500,000
Number of stock issued upon conversion			264,084		264,084

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - 2015 Equity Incentive Plan - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ (31,265)	$ 234,119	$ 1,108,766	$ 1,823,728
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	(207,015)	86,872	4,957	2,079
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 175,750	$ 147,247	$ 1,103,809	$ 1,821,649

Stock-Based Compensation (Det_2

Stock-Based Compensation (Details 1)	9 Months Ended
	Jun. 30, 2019$ / sharesshares
Number of Shares
Balance at October 1, 2018 | shares	182,120
Granted | shares	649,498
Expired | shares	(18,125)
Forfeited | shares	(208,041)
Balance at June 30, 2019 | shares	605,452
Vested and exercisable | shares	150,232
Vested and expected to vest at June 30, 2019 | shares	605,452
Weighted Average Exercise Price
Balance at October 1, 2018 | $ / shares	$ 7.22
Granted | $ / shares	6.32
Expired | $ / shares	7.90
Forfeited | $ / shares	8.42
Balance at June 30, 2019 | $ / shares	5.82
Vested and exercisable | $ / shares	7.21
Vested and expected to vest at June 30, 2019 | $ / shares	$ 5.82
Weighted Average Remaining Contractual Term (Years)
Balance at December 31, 2018	9 years 6 months
Vested and exercisable	9 years 1 month 6 days
Vested and expected to vest at June 30, 2019	9 years 6 months

Stock-Based Compensation (Det_3

Stock-Based Compensation (Details 2)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rate	2.46%	2.72%
Expected life (years)	6 years	5 years 11 months 27 days
Expected volatility	89.50%	61.00%
Expected dividend yield	0.00%	0.00%

Stock-Based Compensation (Det_4

Stock-Based Compensation (Details 3) - Performance-based stock units	9 Months Ended
	Jun. 30, 2019$ / sharesshares
Number of PSUs
Balance at October 1, 2018 | shares	16,131
Forfeitures | shares	0
Balance at June 30, 2019 | shares	16,131
Vested and exercisable at June 30, 2019 | shares	16,113
Vested and expected to vest at June 30, 2019 | shares	16,131
Base Price Per PSU
Balance at October 1, 2018 | $ / shares	$ 49.99
Forfeitures | $ / shares	0
Balance at June 30, 2019 | $ / shares	49.99
Vested and exercisable at June 30, 2019 | $ / shares	49.86
Vested and expected to vest at June 30, 2019 | $ / shares	$ 49.99
Weighted Average Remaining Contractual Term (Years)
Balance at June 31, 2019	5 years
Vested and exercisable at June 30, 2019	5 years
Vested and expected to vest at June 30, 2019	5 years

Stock-Based Compensation (Det_5

Stock-Based Compensation (Details 4) - Restricted stock units	9 Months Ended
	Jun. 30, 2019$ / sharesshares
Number of RSUs
Balance at October 1, 2018 | shares	7,638
Vested and settled | shares	(446)
Forfeitures | shares	(3,442)
Balance at June 30, 2019 | shares	3,750
Weighted Average Grant Date Fair Value
Balance at October 1, 2018 | $ / shares	$ 153.88
Vested and settled | $ / shares	188.36
Forfeitures | $ / shares	68.92
Balance at June 30, 2019 | $ / shares	$ 227.78

Stock-Based Compensation (Det_6

Stock-Based Compensation (Detail Textuals)	9 Months Ended
	Jun. 30, 2019USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued directors fees settled in fully vested stock options | $	$ 49,121
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of common stock authorized for issuance	1,369,596
Number of shares available for grant	592,164
Vesting period	10 years
2015 Equity Incentive Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years
2015 Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
2011 Equity Compensation Plan (the "2011 Plan") | Officers, Employees, Consultants and Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved for issuance	106,490
Aggregate number of common stock authorized for issuance	16,131

Stock-Based Compensation (Det_7

Stock-Based Compensation (Detail Textuals 1) - Stock options - USD ($)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value	$ 0
Weighted average grant date fair value of the options awarded to employees	$ 4.70	$ 4.16
Unrecognized compensation expense	$ 1,594,998
Weighted average period of unrecognized compensation expense that is expected to be recognized	3 years 4 months 24 days

Stock-Based Compensation (Det_8

Stock-Based Compensation (Detail Textuals 2)	9 Months Ended
	Jun. 30, 2019USD ($)
Performance-based stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of PSUs	10 years
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized expense to be recognized of stock awards other than options	$ 74,417
Weighted-average period for recognition of unamortized expense	2 months 19 days

Related-Party Transactions (Det

Related-Party Transactions (Detail Textuals) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Strategic partnership agreement | MTTR, LLC
Related Party Transaction [Line Items]
Revenue from consulting fees and expense reimbursement	$ 573,983	$ 1,154,894