Mustang Bio (MBIO) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 14, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	MUSTANG BIO, INC.
Entity Central Index Key	1,680,048
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		13,080,547

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets:
Cash	$ 11,118	$ 0
Total current assets	11,118	0
Total Assets	11,118	0
Current Liabilities:
Accounts payable and accrued expenses	1,040	15
Accrued expenses - related party	750	375
Accrued interest - related party	446	168
Notes payable - related party	2,001	3,571
Derivative warrant liability	632	0
Total current liabilities	4,869	4,129
Notes payable, long-term (net of debt discount of $673 and $0)	2,927	0
Total Liabilities	7,796	4,129
Commitments and Contingencies
Stockholders' Equity (Deficit)
Preferred stock ($0.0001 par value), 2,000,000 shares authorized, 250,000 and 0 shares of Class A preferred stock issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	0	0
Common shares, 10,962,703 and 2,000,000 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	1	0
Common stock issuable, 0 and 250,000 shares as of September 30, 2016 and December 31, 2015, respectively	0	190
Additional paid-in capital	11,693	146
Accumulated deficit	(8,372)	(4,466)
Total Stockholders’ Equity (Deficit)	3,322	(4,129)
Total Liabilities and Stockholders’ Equity (Deficit)	11,118	0
Common Class A [Member]
Stockholders' Equity (Deficit)
Common shares, 10,962,703 and 2,000,000 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	0	0
Total Stockholders’ Equity (Deficit)	0	0
Common Class B [Member]
Stockholders' Equity (Deficit)
Common shares, 10,962,703 and 2,000,000 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	0	1
Total Stockholders’ Equity (Deficit)	$ 0	$ 1

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
NSC notes payable, long-term, debt discount	$ 673	$ 0
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	2,000,000	2,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	10,962,703	2,000,000
Common Stock, Shares, Outstanding	10,962,703	2,000,000
Common Stock, Shares Subscribed but Unissued	0	250,000
Series A Preferred Stock [Member]
Preferred Stock, Shares Issued	250,000	0
Preferred Stock, Shares Outstanding	250,000	0
Common Class A [Member]
Common Stock, Shares, Issued	1,000,000	1,000,000
Common Stock, Shares, Outstanding	1,000,000	1,000,000
Common Class B [Member]
Common Stock, Shares, Issued	0	7,250,000
Common Stock, Shares, Outstanding	0	7,250,000

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		7 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Operating expenses:
Research and development	$ 569	$ 570	$ 1,134	$ 1,718
Research and development - licenses acquired	0	0	2,147	0
General and administrative	1,101	88	174	1,814
Total operating expenses	1,670	658	3,455	3,532
Loss from operations	(1,670)	(658)	(3,455)	(3,532)
Other income (expenses)
Interest expense - related party	(46)	(58)	(100)	(220)
Interest expense	(156)	0	0	(156)
Change in fair value of derivative liabilities	2	0	0	2
Total other expenses, net	(200)	(58)	(100)	(374)
Net Loss	$ (1,870)	$ (716)	$ (3,555)	$ (3,906)
Net loss per common share outstanding, basic and diluted	$ (0.19)	$ (0.07)	$ (0.36)	$ (0.39)
Weighted average common shares outstanding, basic and diluted	10,089,269	10,000,000	9,990,099	10,130,338

CONDENSED STATEMENT OF STOCKHOL

CONDENSED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - 9 months ended Sep. 30, 2016 - USD ($) $ in Thousands	Total	Preferred Stock Class A [Member]	Common Shares Class A [Member]	Common Shares Class B [Member]	Common Shares [Member]	Common Stock Issuable [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balances, Begining at Dec. 31, 2015	$ (4,129)	$ 0	$ 0	$ 1	$ 0	$ 190	$ 146	$ (4,466)
Balance (in shares) at Dec. 31, 2015 at Dec. 31, 2015		0	1,000,000	7,000,000	2,000,000
Issuance of common shares - Founders Agreement	274	$ 0	$ 0	$ 0	$ 0	(190)	464	0
Issuance of common shares - Founders Agreement (in shares)		0	0	250,000	47,870
Issuance of common shares and warrants for cash	12,446	$ 0	$ 0	$ 0	$ 0	0	12,446	0
Issuance of common shares and warrants for cash (in shares)		0	0	0	1,914,833
Offering cost	(1,363)	$ 0	$ 0	$ 0	$ 0	0	(1,363)	0
Exchange of Class A Preferred Stock and common stock	0	$ 0	$ 0	$ (1)	$ 1	0	0	0
Exchange of Class A Preferred Stock and common stock (in shares)		250,000	0	(7,250,000)	7,000,000
Net loss	(3,906)	$ 0	$ 0	$ 0	$ 0	0	0	(3,906)
Balances, Ending at Sep. 30, 2016	$ 3,322	$ 0	$ 0	$ 0	$ 1	$ 0	$ 11,693	$ (8,372)
Balance (in shares) at Sep. 30, 2016 at Sep. 30, 2016		250,000	1,000,000	0	10,962,703

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	7 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2016
Cash flows from operating activities:
Net loss	$ (3,555)	$ (3,906)
Issuance of Class A common shares for license expenses	147	0
Research and development-licenses acquired, expensed	2,000	0
Issuance of common shares - Founders Agreement	0	274
Amortization of debt discount	0	90
Changes in operating assets and liabilities:	0	(2)
Changes in operating assets and liabilities:
Accounts payable and accrued expenses	17	1,025
Accrued expenses - related party	250	375
Accrued interest - related party	99	278
Net cash used in operating activities	(1,042)	(1,866)
Cash Flows from Investing Activities:
Purchase of research and development licenses	(2,000)	0
Net cash used in investing activities	(2,000)	0
Cash Flows from Financing Activities:
Proceeds from NSC Note	0	3,600
Proceeds from issuance of common stock and warrants (net of offering cost of $1,363 and $0)	0	11,083
Net cash provided by financing activities	3,042	12,984
Net change in cash	0	11,118
Cash at beginning of the period	0	0
Cash at end of the period	0	11,118
Supplemental disclosure of noncash investing and financing activities:
Issuance of common shares - Founders Agreement	1	190
Warrant liability associated with NSC Note	0	634
Fortress Note [Member]
Cash Flows from Financing Activities:
Proceeds from Note	3,042	1,963
Payment of Note	0	(3,533)
NSC Note [Member]
Cash Flows from Financing Activities:
Payments of Debt Issuance Costs	$ 0	$ (129)

CONDENSED STATEMENTS OF CASH F7

CONDENSED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	7 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2016
Proceeds from issuance of common stock and warrants, offering cost	$ 0	$ 1,363

Organization and Plan of Busine

Organization and Plan of Business Operations	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 - Organization and Plan of Business Operations Mustang Bio, Inc. (the “Company” or “Mustang”) was incorporated in Delaware on March 13, 2015, as a majority-owned subsidiary of Fortress Biotech, Inc. (“Fortress” or “Parent”) and commenced its principal operations on March 13, 2015. Mustang was formed as a clinical-stage biopharmaceutical company focused on the acquisition, development and commercialization of novel cancer immunotherapy products designed to utilize the power of the patient’s own immune system to eliminate cancer cells. The Company may acquire rights to these technologies by licensing the rights or otherwise acquiring an ownership interest in the technologies, funding their research and development and eventually either out-licensing or bringing the technologies to market. Chimeric Antigen Receptor (CAR) engineered T-cells (CAR-T) technology In March 2015, Mustang entered into an exclusive license and sponsored research agreement with the City of Hope National Medical Center (“COH”), collectively referred to as “COH Agreements”, to acquire CAR-T. CAR-T uses the patient’s own T-cells to engage and destroy specific tumors. The process involves selecting specific T-cell subtypes, genetically engineering them to express chimeric antigen T cell receptors and placing them back in the patient where they recognize and destroy cancer cells. The exclusive license agreement covers the discovery, manufacture and clinical development of novel CAR-T along with specified rights to any and all inventions.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Note 2 - Significant Accounting Policies The accompanying unaudited interim condensed financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. They may not include all of the information and footnotes required by GAAP for complete financial statements The preparation of 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 the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. Research and development costs are expensed as incurred. Advance payments for goods and services that will be used in future research and development activities are expensed when the activity has been performed or when the goods have been received rather than when the payment is made. Upfront and milestone payments due to third parties that perform research and development services on the Company’s behalf will be expensed as services are rendered or when the milestone is achieved. Research and development costs primarily consist of personnel related expenses, including salaries, benefits, travel, and other related expenses, stock-based compensation, payments made to third parties for license and milestone costs related to in-licensed products and technology, payments made to third party contract research organizations for preclinical and clinical studies, investigative sites for clinical trials, consultants, the cost of acquiring and manufacturing clinical trial materials, costs associated with regulatory filings, laboratory costs and other supplies. Costs incurred in obtaining technology licenses are charged to research and development expense if the technology licensed has not reached commercial feasibility and has no alternative future use. The licenses purchased by the Company require substantial completion of research and development, regulatory and marketing approval efforts in order to reach commercial feasibility and have no alternative future use. Accordingly, the total purchase price for the licenses acquired is reflected as research and development - licenses acquired on the Company’s unaudited Condensed Statements of Operations. Prior to the July 2016 amendment to the Founder’s Agreement, Fortress was entitled to an annual fee on each anniversary date equal to 2.5 The Company recorded the Annual Equity Fee in connection with the Founders Agreement with Mustang as contingent consideration. Contingent consideration is recorded when probable and reasonably estimable. The Company’s future share prices cannot be estimated due to the nature of its assets and the Company’s stage of development. Due to these uncertainties, the Company concluded that it could not reasonably estimate the contingent consideration until shares were actually issued on March 13, 2016. Because the issuance of shares on March 13, 2016 occurred prior to the issuance of the December 31, 2015 financial statements, the Company recorded approximately $ 190,000 The Company follows accounting guidance on fair value measurements for financial assets and liabilities measured at fair value on a recurring basis. Under the accounting guidance, fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance requires fair value measurements be classified and disclosed in one of the following three categories: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs other than Level 1 prices, for similar assets or liabilities that are directly or indirectly observable in the marketplace. Level 3: Unobservable inputs which are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability. In accordance with Accounting Standards Codification (“ASC”) ASC 815, Derivatives and Hedging For purposes of these financial statements, the Company’s income tax expense and deferred tax balances have been recorded as if it filed tax returns on a stand-alone basis separate from Fortress. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities measured at the enacted tax rates in effect for the year in which these items are expected to reverse. Deferred tax assets are reduced by valuation allowances if, based on the consideration of all available evidence, it is more likely than not that some portion or all of the deferred tax asset will not be realized. 670,191 250,000 In August 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-15, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customer (“ASU 2016-10”) In March 2016, the FASB issued ASU No. 2016-09 Compensation-Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”) In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”) Leases (Topic 840) In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”) Recently Adopted Accounting Pronouncements In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs

COH Agreements

COH Agreements	9 Months Ended
	Sep. 30, 2016
License Agreement Disclosure [Abstract]
License Agreement Disclosure [Text Block]	Note 3 - COH Agreements On March 17, 2015, the Company entered into an exclusive license agreement with COH to acquire intellectual property rights pertaining to CAR-T. Pursuant to the agreement, the Company paid COH an upfront fee of $ 2.0 research and development-licenses acquired expenses 1,000,000 10 2.0 14.5 1.0 44.8 30 0.147 147,000 research and development-licenses acquired expenses In addition, the Company entered into a sponsored research agreement with COH in which the Company will fund continued research in the amount of $ 2.0 0.5 0.5 1.5 1.0

Related Party Agreements

Related Party Agreements	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 4 - Related Party Agreements Founders Agreement and Management Services Agreement with Fortress Effective March 13, 2015, the Company entered a Founders Agreement with Fortress, which was amended and restated on May 17, 2016 and again on July 26, 2016 (the “Mustang Founders Agreement”). The Mustang Founders Agreement provides that, in exchange for the time and capital expended in the formation of Mustang and the identification of specific assets the acquisition of which resulted in the formation of a viable emerging growth life science company, Fortress loaned the Company $2.0 million, representing the up-front fee required to acquire the Company’s license agreement with COH. The Mustang Founders Agreement has a term of 15 7.25 7.0 250,000 Each share of Class A Preferred Stock will be entitled to vote the number of votes that is equal to one and one-tenth (1.1) times a fraction, the numerator of which is the sum of (A) the shares of outstanding Mustang common stock and (B) the whole shares of Mustang common stock into which the shares of outstanding Class A Common Stock and Class A Preferred Stock are convertible and the denominator of which is the number of shares of outstanding Class A Preferred Stock. As additional consideration under the Mustang Founders Agreement, Mustang will also: (i) pay an equity fee in shares of common stock, payable within five business days of the closing of any equity or debt financing for Mustang or any of its respective subsidiaries that occurs after the effective date of the Mustang Founders Agreement and ending on the date when Fortress no longer has majority voting control in the Company’s voting equity, equal to 2.5% of the gross amount of any such equity or debt financing; and (ii) pay a cash fee equal to 4.5% of the Company’s annual net sales, payable on an annual basis, within ninety days of the end of each calendar year. In the event of a Change in Control, the Company will pay a one-time change in control fee equal to five times the product of (A) net sales for the twelve months immediately preceding the change in control and (B) 4.5%. On March 13, 2016, pursuant to the then in effect Mustang Founders Agreement, on the anniversary date of the Founders’ Agreement, the Company issued 250,000 2.5 Effective as of March 13, 2015, the Company entered into a Management Services Agreement (the “MSA”) with Fortress. Pursuant to the terms of the MSA, for a period of five years, Fortress will render advisory and consulting services to the Company. Services provided under the MSA may include, without limitation, (i) advice and assistance concerning any and all aspects of the Company’s operations, clinical trials, financial planning and strategic transactions and financings and (ii) conducting relations on behalf of the Company with accountants, attorneys, financial advisors and other professionals (collectively, the “Services”). The Company is obligated to utilize clinical research services, medical education, communication and marketing services and investor relations/public relation services of companies or individuals designated by Fortress, provided those services are offered at market prices. However, the Company is not obligated to take or act upon any advice rendered from Fortress and Fortress shall not be liable for any of its actions or inactions based upon their advice. Fortress and its affiliates, including all members of the Company’s Board of Directors, have been contractually exempt from fiduciary duties to the Company relating to corporate opportunities. In consideration for the Services, the Company will pay Fortress an annual consulting fee of $ 0.5 1.0 100 0.1 0.1 0.4 0.2 Consulting Agreement with Chord Advisors, LLC (“Chord”) On April 8, 2016 the Company entered into a full service consulting agreement with Chord to provide advisory accounting services to the Company. Under the terms of the agreement, the Company paid Chord up to $ 5,000 7,500 17,500 0 0 30,300 Fortress Note Payable The Company has a working capital promissory note with Fortress (see Note 5). NSC Note and Financings In September 2016, Fortress acquired through a tender offer 56.1 3.6 10 In September 2016, the Company entered into a Placement Agent Agreement with National in connection with financing in which the Company agreed to pay NSC a cash fee of 10.0 25 1.3 191,483

Notes Payable

Notes Payable	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 5 – Notes Payable Fortress Note Effective March 13, 2015, in connection with the Mustang Founders Agreement, the Company and Fortress entered into an Intercompany Working Capital Promissory Note (“Fortress Note”), in which Fortress agreed to provide a working capital line of credit until the Company has a third party financing. The Fortress Note is due on demand and accrues interest of 8 At September 30, 2016, the Fortress Note was approximately $ 2.0 42,000 58,000 216,000 99,000 NSC Note In March 2015, Fortress closed a private placement of a promissory note for $ 10 The NSC Note matures in 36 months, provided that during the first 24 months Fortress can extend the maturity date by six months. No principal amount will be due for the first 24 months (or the first 30 months if the maturity date is extended). Thereafter, the NSC Note will be repaid at the rate of 1/12 of the principal amount per month for a period of 12 months. Interest on the note is 8% payable quarterly during the first 24 months (or the first 30 months if the note is extended) and monthly during the last 12 months. The NSC Note was amended and restated on July 29, 2015, to provide that any time a Fortress Company receives from Fortress any proceeds from the NSC Note, Fortress may, in its sole discretion, cause the Fortress Company to issue to NSC Biotech Venture Fund I LLC a new promissory note (the “Amended NSC Note”) on identical terms as the NSC Note (giving effect to the passage of time with respect to maturity). The Amended NSC Note will equal the dollar amount of the Fortress Company’s share of the NSC Note and reduce the Fortress’ obligations under the NSC Note by such amount. Fortress will guarantee the Amended NSC Note until the Company either completes an initial public offering or raises sufficient equity capital so that it has cash equal to five times the Amended NSC Note. If the Company has an initial public offering and raises sufficient equity capital so that it has cash equal to five times the amount of the portion of the proceeds of the NSC Note transferred to it, then NSC will receive a warrant to purchase the Company’s stock equal to 25 10 On July 5, 2016, Fortress transferred $ 3.6 129,000 25 90 69,000 8 23.1 634,000 NSC Note Payable Discount NSC Note Payable, Net January 1, 2016 balance $ - $ - $ - Proceeds from issuance of NSC Note 3,600 (129) 3,471 Issuance of warrants in conjunction with NSC debt - (634) (634) Amortization of debt discount - 90 90 September 30, 2016 balance $ 3,600 $ (673) $ 2,927

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value, Measurement Inputs, Disclosure [Text Block]	Note 6 – Fair Value Measurement Financial instruments measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. At September 30, 2016 the Contingently Issuable Warrant balance of approximately $ 632,000 Contingently Issuable Warrants Fair value, January 1, 2016 $ - Warrant liability associated with NCS debt 634 Change in fair value (2) Fair value, September 30, 2016 $ 632 In accordance with ASC 815, the Company classifies the fair value of the warrant that may have been granted in connection with the NSC Note transferred to the Company as a derivative liability as there was a potential that the Company would not have a sufficient number of authorized common shares available to settle this instrument. The Company valued this warrant using a Black-Scholes model and used estimates for an expected dividend yield, a risk-free interest rate, and expected volatility together with management’s estimate of the probability of issuance of the warrant. At each reporting period, as long as the warrant was potentially issuable and there was a potential for an insufficient number of authorized shares available to settle the warrant, the warrant was revalued and any difference from the previous valuation date would be recognized as a change in fair value in the Company’s Condensed Statements of Operations. July 5, 2016 September 30, 2016 Risk-free interest rate 1.37 % 1.60 % Expected dividend yield - - Expected term in years 10.0 9.8 Expected volatility 76.70 % 76.70 %

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 7 - Commitments and Contingencies Leases The Company is not a party to any leases for office space or equipment. Litigation On January 15, 2016, Dr. Winson Tang (“Plaintiff”) filed a Complaint against the Company in the Superior Court of the State of California, County of Los Angeles. Winson Tang v. Lindsay Rosenwald et al, Case No. BC607346. As amended, the complaint alleged that Dr. Tang was a third party beneficiary of the Company's Exclusive License Agreement with COH and should be awarded 15 As of September 30, 2016, the Company has not accrued any losses in connection with this litigation as the Company believes that Plaintiff's claims are without merit and intends to vigorously defend this lawsuit. Even in the event of an adverse determination, Fortress and the Company intend to satisfy any judgment from sources other than newly issued shares of the Company to prevent dilution.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Note 8 - Stockholders’ Equity (Deficit) Common Stock The Company, in accordance with its certificate of incorporation, as amended in July 2016, which was retroactively applied, is authorized to issue 50,000,000 0.0001 1,000,000 pro-rata to the Class A, Class A Preferred and Common Stock holders. The holders of Common Stock are entitled to one vote per share of Common Stock held. The holders of Class A Common Stock are entitled to the number of votes equal to the number of whole shares of Common Stock into which the shares of Class A Common Stock held by such holder are convertible and for a period of ten years from its issuance, the holders of the Class A Common Stock have the right to appoint one member of the board of directors of Mustang; to date, the holders of Class A Common Stock have not yet appointed such director. In July 2016, pursuant to the Founders Agreement Amendment (see Note 4) Fortress entered into an Exchange Agreement whereby Fortress exchanged its 7.25 Stock for 7.0 shares of Common Stock and 250,000 shares of Class A Preferred Stock. See “Class A Preferred Shares” below. Offerings and Issuances of Common Stock and Warrants In September 2016, the Company entered into a Placement Agent Agreement with NSC relating to the Company’s offering of shares of Common Stock in a private placement. Pursuant to the Placement Agent Agreement, the Company agreed to pay the Placement Agent a cash fee of 10.0 10 10,000 2,500 8.50 65,000 On September 30, 2016 the Company had an initial closing in which the Company issued 1,914,833 478,708 191,483 1.4 1.3 Pursuant to the Founders Agreement, the Company issued 47,870 2.5 274,000 Class A Preferred Shares Pursuant to the Company’s Amended and Restated Articles of Incorporation, filed on July 26, 2016, Class B Common Stock was eliminated and 2,000,000 250,000 The holders of the outstanding shares of Class A Preferred Stock shall receive on each March 13 (each a “PIK Dividend Payment Date”) after the original issuance date of the Class A Preferred Stock until the date all outstanding Class A Preferred Stock is converted into Common Stock or redeemed (and the purchase price is paid in full), pro rata per share dividends paid in additional fully paid and nonassessable shares of Common Stock (such dividend being herein called “PIK Dividends”) such that the aggregate number of shares of Common Stock issued pursuant to such PIK Dividend is equal to 2.5% of the Corporation’s fully-diluted outstanding capitalization on the date that is one business day prior to any PIK Dividend Payment Date (“PIK Record Date”). In the event the Class A Preferred Stock converts into Common Stock, the holders shall receive all PIK Dividends accrued through the date of such conversion. No dividend or other distribution shall be paid, or declared and set apart for payment (other than dividends payable solely in capital stock on the capital stock of the Company) on the shares of Common Stock until all PIK Dividends on the Class A Preferred Stock shall have been paid or declared and set apart for payment. All dividends are non-cumulative. On any matter presented to the stockholders of the Company for their action or consideration at any meeting of stockholders of the Company (or by written consent of stockholders in lieu of meeting), each holder of outstanding shares of Class A Preferred Stock shall be entitled to cast for each share of Class A Preferred Stock held by such holder as of the record date for determining stockholders entitled to vote on such matter, the number of votes that is equal to one and one-tenth (1.1) times a fraction, the numerator of which is the sum of (A) the number of shares of outstanding Common Stock and (B) the whole shares of Common Stock in to which the shares of outstanding Class A Common Stock and the Class A Preferred Stock are convertible, and the denominator of which is number of shares of outstanding Class A Preferred Stock (the “Class A Preferred Stock Ratio”). Thus, the Class A Preferred Stock will at all times constitute a voting majority. Each share of Class A Preferred Stock is convertible, at the option of the holder, into one fully paid and nonassessable share of Common Stock (the “Conversion Ratio”), subject to certain adjustments. If the Company, at any time effects a subdivision or combination of the outstanding Common Stock (by any stock split, stock dividend, recapitalization, reverse stock split or otherwise), the applicable Conversion Ratio in effect immediately before that subdivision is proportionately decreased or increased, as applicable, so that the number of shares of Common Stock issuable on conversion of each share of Class A Preferred Stock shall be increased or decreased, a applicable, in proportion to such increase or decrease in the aggregate number of shares of Common Stock outstanding. Additionally, if any reorganization, recapitalization, reclassification, consolidation or merger involving the Company occurs in which the Common Stock (but not the Class A Preferred Stock) is converted into or exchanged for securities, cash or other property, then each share of Class A Preferred Stock becomes convertible into the kind and amount of securities, cash or other property which a holder of the number of shares of Common Stock of the Company issuable upon conversion of one share of the Class A Preferred Stock immediately prior to such reorganization, recapitalization, reclassification, consolidation or merger would have been entitled to receive pursuant to such transaction. Warrants Weighted Average Remaining Weighted Average Contractual Life Warrants Exercise Price (in years) Outstanding as of January 1, 2016 - $ - - Granted 670,191 8.50 5.00 Outstanding as of September 30, 2016 670,191 $ 8.50 5.00 Upon the exercise of warrants, the Company will issue new shares of Common Stock.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 9 - Subsequent Events Second Close of Offering On October 25, 2016 the Company closed an additional round of financing totaling gross proceeds of $ 7.1 0.7 10 10,000 2,500 8.50 65,000 Company issued 1,100,000 unregistered shares of Common Stock and 272,645 109,058 10 NSC Amended Note Pursuant to the terms of the Company’s $ 3.6 138,462

Significant Accounting Polici17

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	The accompanying unaudited interim condensed financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. They may not include all of the information and footnotes required by GAAP for complete financial statements
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of 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 the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs Research and development costs are expensed as incurred. Advance payments for goods and services that will be used in future research and development activities are expensed when the activity has been performed or when the goods have been received rather than when the payment is made. Upfront and milestone payments due to third parties that perform research and development services on the Company’s behalf will be expensed as services are rendered or when the milestone is achieved. Research and development costs primarily consist of personnel related expenses, including salaries, benefits, travel, and other related expenses, stock-based compensation, payments made to third parties for license and milestone costs related to in-licensed products and technology, payments made to third party contract research organizations for preclinical and clinical studies, investigative sites for clinical trials, consultants, the cost of acquiring and manufacturing clinical trial materials, costs associated with regulatory filings, laboratory costs and other supplies. Costs incurred in obtaining technology licenses are charged to research and development expense if the technology licensed has not reached commercial feasibility and has no alternative future use. The licenses purchased by the Company require substantial completion of research and development, regulatory and marketing approval efforts in order to reach commercial feasibility and have no alternative future use. Accordingly, the total purchase price for the licenses acquired is reflected as research and development - licenses acquired on the Company’s unaudited Condensed Statements of Operations.
Annual Equity Fee [Policy Text Block]	Annual Equity Fee Prior to the July 2016 amendment to the Founder’s Agreement, Fortress was entitled to an annual fee on each anniversary date equal to 2.5 The Company recorded the Annual Equity Fee in connection with the Founders Agreement with Mustang as contingent consideration. Contingent consideration is recorded when probable and reasonably estimable. The Company’s future share prices cannot be estimated due to the nature of its assets and the Company’s stage of development. Due to these uncertainties, the Company concluded that it could not reasonably estimate the contingent consideration until shares were actually issued on March 13, 2016. Because the issuance of shares on March 13, 2016 occurred prior to the issuance of the December 31, 2015 financial statements, the Company recorded approximately $ 190,000
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurement The Company follows accounting guidance on fair value measurements for financial assets and liabilities measured at fair value on a recurring basis. Under the accounting guidance, fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance requires fair value measurements be classified and disclosed in one of the following three categories: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs other than Level 1 prices, for similar assets or liabilities that are directly or indirectly observable in the marketplace. Level 3: Unobservable inputs which are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability.
Valuation Of Warrant Related To Nsc Note [Policy Text Block]	Valuation of Warrant Related to NSC Note In accordance with Accounting Standards Codification (“ASC”) ASC 815, Derivatives and Hedging
Income Tax, Policy [Policy Text Block]	Income Taxes For purposes of these financial statements, the Company’s income tax expense and deferred tax balances have been recorded as if it filed tax returns on a stand-alone basis separate from Fortress. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities measured at the enacted tax rates in effect for the year in which these items are expected to reverse. Deferred tax assets are reduced by valuation allowances if, based on the consideration of all available evidence, it is more likely than not that some portion or all of the deferred tax asset will not be realized.
Earnings Per Share, Policy [Policy Text Block]	670,191 250,000
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards In August 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-15, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customer (“ASU 2016-10”) In March 2016, the FASB issued ASU No. 2016-09 Compensation-Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”) In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”) Leases (Topic 840) In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”) Recently Adopted Accounting Pronouncements In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	The following table summarizes NSC Note activities for the nine months ended September 30, 2016 ($ in thousands). NSC Note Payable Discount NSC Note Payable, Net January 1, 2016 balance $ - $ - $ - Proceeds from issuance of NSC Note 3,600 (129) 3,471 Issuance of warrants in conjunction with NSC debt - (634) (634) Amortization of debt discount - 90 90 September 30, 2016 balance $ 3,600 $ (673) $ 2,927

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The following table sets forth the changes in the estimated fair value for our Level 3 classified derivative contingently issuable warrant liability ($ in thousands): Contingently Issuable Warrants Fair value, January 1, 2016 $ - Warrant liability associated with NCS debt 634 Change in fair value (2) Fair value, September 30, 2016 $ 632
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	The fair value of the Contingently Issuable Warrants was determined by applying management’s estimate of the probability of issuance of the Contingently Issuable Warrants together with the Black-Scholes option pricing model with the following key assumptions: July 5, 2016 September 30, 2016 Risk-free interest rate 1.37 % 1.60 % Expected dividend yield - - Expected term in years 10.0 9.8 Expected volatility 76.70 % 76.70 %

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) (Tables)	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	A summary of warrant activities for nine months ended September 30, 2016 is presented below: Weighted Average Remaining Weighted Average Contractual Life Warrants Exercise Price (in years) Outstanding as of January 1, 2016 - $ - - Granted 670,191 8.50 5.00 Outstanding as of September 30, 2016 670,191 $ 8.50 5.00

Significant Accounting Polici21

Significant Accounting Policies (Details Textual) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	670,191
Fortress Biotech, Inc [Member]
Annual Fee On Diluted Outstanding Equity, Percentage	2.50%
Research and Development Asset Acquired Other than Through Business Combination, Fair Value Acquired		$ 190,000
Series A Preferred Stock [Member] | Preferred Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	250,000

COH Agreements (Details Textual

COH Agreements (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended
	Mar. 17, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Research and Development Expense		$ 500,000	$ 500,000	$ 1,000,000	$ 1,500,000
City Of Hope [Member]
Payment Of Upfront Fees	$ 2,000,000
Stock Issued During Period, Shares, Other	1,000,000
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	10.00%
Revenue Recognition Milestone Method Payments Due	$ 2,000,000
Royalty Guarantees, Commitments, Amount	$ 1,000,000
Marketability Percentage Of Invested Capital	44.80%
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	30.00%
Share Price	$ 0.147
Stock Issued During Period, Value, Other	$ 147,000
Research And Development Expense, Sponsored Research Payment	2,000,000
City Of Hope [Member] | Development Milestone [Member]
Research And Development Milestone	$ 14,500,000

Related Party Agreements (Detai

Related Party Agreements (Details Textual) - USD ($)	Apr. 08, 2016	Mar. 13, 2016	Sep. 30, 2016	Jul. 31, 2016	May 17, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Founders Agreement Term					15 years
Additional Consideration Under Founders Agreement Description					(i) pay an equity fee in shares of common stock, payable within five business days of the closing of any equity or debt financing for Mustang or any of its respective subsidiaries that occurs after the effective date of the Mustang Founders Agreement and ending on the date when Fortress no longer has majority voting control in the Company’s voting equity, equal to 2.5% of the gross amount of any such equity or debt financing; and (ii) pay a cash fee equal to 4.5% of the Company’s annual net sales, payable on an annual basis, within ninety days of the end of each calendar year. In the event of a Change in Control, the Company will pay a one-time change in control fee equal to five times the product of (A) net sales for the twelve months immediately preceding the change in control and (B) 4.5%.
Convertible Common Stock [Member]
Conversion of Stock, Shares Issued				7,000,000
Fortress Biotech, Inc [Member]
Proceeds from Related Party Debt					$ 2,000,000
Noncontrolling Interest, Ownership Percentage by Parent		2.50%
Annual Consulting Fees		$ 0.5
Increase In Annual Consulting Fees		1,000,000
Excess In Net Assets Value		$ 100,000,000
Annual Fees Expenses On Founders Agreement						$ 100,000	$ 100,000	$ 200,000	$ 400,000
Chord Advisors, LLC [Member]
Back Office Accounting Functions Expenses	$ 5,000
Accounting Analysis And Financial Reporting Fees	$ 7,500
Professional Fees						$ 17,500	$ 0		$ 30,300	$ 0
National Holdings, Inc. [Member]
Business Acquisition, Percentage of Voting Interests Acquired			56.10%			56.10%			56.10%
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures			$ 3,600,000			$ 3,600,000			$ 3,600,000
Notes Issued, Placement Fees Percentage			10.00%
Percentage Of Placement Agent Fees Payable			10.00%
Percentage Of Warrants Issuable On Offering Price			25.00%
Payments for Other Fees			$ 1,300,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			191,483			191,483			191,483
Common Class B [Member]
Conversion of Stock, Shares Converted				7,250,000
Stock Issued During Period, Shares, Issued for Services									250,000
Common Class B [Member] | Fortress Biotech, Inc [Member]
Stock Issued During Period, Shares, Issued for Services		250,000
Series A Preferred Stock [Member]
Conversion of Stock, Shares Issued				250,000
Preferred Stock, Voting Rights					Each share of Class A Preferred Stock will be entitled to vote the number of votes that is equal to one and one-tenth (1.1) times a fraction, the numerator of which is the sum of (A) the shares of outstanding Mustang common stock and (B) the whole shares of Mustang common stock into which the shares of outstanding Class A Common Stock and Class A Preferred Stock are convertible and the denominator of which is the number of shares of outstanding Class A Preferred Stock.
Stock Issued During Period, Shares, Issued for Services									0

Notes Payable (Details)

Notes Payable (Details) - USD ($) $ in Thousands	7 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2016
Debt Instrument [Line Items]
NSC Note Payable, beginning balance		$ 0
Proceeds From Notes Payable, Gross	$ 0	3,600
NSC Note Payable, ending balance		3,600
Discount, beginning balance		0
Proceeds from issuance of NSC Note		(129)
Issuance of warrants in conjunction with NSC debt		(634)
Amortization of debt discount	$ 0	90
Discount, ending balance		(673)
NSC Note Payable Net , beginning balance		0
Proceeds from issuance of NSC Note		3,471
NSC Note Payable Net, ending balance		$ 2,927

Notes Payable (Details Textual)

Notes Payable (Details Textual) - USD ($)	Mar. 02, 2015	Jul. 05, 2016	Jul. 29, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Percentage Of Warrants Issued On Outstanding Note Amount			25.00%
Class of Warrants Or Rights Issued, Warrants Term			10 years
Notes Payable, Related Parties, Current				$ 2,001,000			$ 2,001,000		$ 3,571,000
Interest Expense, Debt				156,000	$ 0	$ 0	156,000
Amortization of Debt Discount (Premium)						$ 0	90,000
Debt Instrument, Unamortized Discount				$ (673,000)			$ (673,000)		$ 0
Working Capital Promissory Note [Member] | Fortress Biotech, Inc [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				8.00%			8.00%
Notes Payable, Related Parties, Current				$ 2,000,000			$ 2,000,000
Interest Expense, Debt				$ 42,000	$ 58,000		216,000	$ 99,000
National Securities Corporation Note [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		8.00%
Interest Expense, Debt							69,000
Percentage Of Contingently Issuable Warrants On Indebtedness Transferred		25.00%
Debt Instrument, Face Amount		$ 3,600,000
Debt Related Commitment Fees and Debt Issuance Costs		$ 129,000
Amortization of Debt Discount (Premium)							$ 90,000
Debt Instrument, Interest Rate, Effective Percentage		23.10%
Debt Instrument, Unamortized Discount		$ 634,000
National Securities Corporation Note [Member] | Fortress Biotech, Inc [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Debt	$ 10,000,000
Debt Instrument, Maturity Date, Description	TheNSC Notematures in 36 months, provided that during the first 24 months Fortress can extend the maturity date by six months. No principal amount will be due for the first 24 months (or the first 30 months if the maturity date is extended). Thereafter, the NSC Note will be repaid at the rate of 1/12 of the principal amount per month for a period of 12 months. Interest on the note is 8% payable quarterly during the first 24 months (or the first 30 months if the note is extended) and monthly during the last 12 months.

Fair Value Measurement (Details

Fair Value Measurement (Details) - Warrant [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, beginning balance	$ 0
Warrant liability associated with NCS debt	634
Change in fair value	(2)
Fair value, ending balance	$ 632

Fair Value Measurement (Detai27

Fair Value Measurement (Details1)	1 Months Ended	9 Months Ended
	Jul. 05, 2016	Sep. 30, 2016
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Risk-free interest rate	1.37%	1.60%
Expected dividend yield	0.00%	0.00%
Expected term in years	10 years	9 years 9 months 18 days
Expected volatility	76.70%	76.70%

Fair Value Measurement (Detai28

Fair Value Measurement (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Liability, Current	$ 632	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details Textual)	Jan. 15, 2016
City Of Hope [Member]
Loss Contingencies [Line Items]
Loss Contingency Damages Awarded Percentage	15.00%

Stockholders' Equity (Deficit30

Stockholders' Equity (Deficit) (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants, Outstanding Beginning of year	0
Warrants, Granted	670,191
Warrants, Outstanding End of year	670,191	0
Weighted Average Exercise Price, Outstanding Beginning of year	$ 0
Weighted Average Exercise Price, Granted	8.50
Weighted Average Exercise Price, Outstanding End of year	$ 8.50	$ 0
Weighted Average Remaining Contractual Life, Outstanding Beginning of year	5 years	0 years
Weighted Average Remaining Contractual Life, Granted	5 years
Weighted Average Remaining Contractual Life, Outstanding End of year	5 years	0 years

Stockholders' Equity (Deficit31

Stockholders' Equity (Deficit) (Details Textual) - USD ($)	1 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Jul. 26, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares Authorized	50,000,000		50,000,000	2,000,000	50,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001		$ 0.0001		$ 0.0001
Proceeds from Issuance or Sale of Equity		$ 0	$ 11,083,000
Payments for Underwriting Expense			$ 1,400,000
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues			478,708
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense			$ 274,000
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues			1,914,833
Convertible Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion of Stock, Shares Issued	7,000,000
Series A Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares Authorized				250,000
Stock Issued During Period, Shares, New Issues			0
Conversion of Stock, Shares Issued	250,000
Common Class B [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues			0
Conversion of Stock, Shares Converted	7,250,000
Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares Authorized	1,000,000
Stock Issued During Period, Shares, New Issues			0
Fortress Biotech, Inc [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Of Common Stock,Percentage			2.50%
Fortress Biotech, Inc [Member] | Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues			47,870
Private Placement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrant Purchase Price Per Unit			$ 65,000
Warrant Expiration Term			5 years
Warrants Issued			191,483
Stock Issued During Period, Shares, New Issues			10,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			2,500
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 8.50
Payments for Underwriting Expense			$ 1,300,000
Private Placement [Member] | National Holdings Corporation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage Of Placement Agent Fee			10.00%
Percentage Of Shares Issued To Placement Agent			10.00%

Subsequent Events (Details Text

Subsequent Events (Details Textual) - USD ($)	1 Months Ended	7 Months Ended	9 Months Ended
	Oct. 25, 2016	Sep. 30, 2015	Sep. 30, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Payments of Stock Issuance Costs		$ 0	$ 1,363,000
Long-term Debt, Gross			$ 3,600,000	$ 0
Private Placement [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues			10,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			2,500
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 8.50
Warrant Purchase Price Per Unit			$ 65,000
Warrants Issued			191,483
Warrant Expiration Term			5 years
National Holdings Corporation [Member] | Private Placement [Member]
Subsequent Event [Line Items]
Percentage Of Placement Agent Fee			10.00%
Percentage Of Shares Issued To Placement Agent			10.00%
Subsequent Event [Member]
Subsequent Event [Line Items]
Warrants Issued	272,645
Subsequent Event [Member] | NSC Amended Note [Member]
Subsequent Event [Line Items]
Long-term Debt, Gross	$ 3,600,000
Subsequent Event [Member] | Unregistered Common Stock [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues	1,100,000
Subsequent Event [Member] | Private Placement [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues	10,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	2,500
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 8.50
Warrant Purchase Price Per Unit	$ 65,000
Warrant Expiration Term	5 years
Subsequent Event [Member] | National Holdings Corporation [Member] | NSC Amended Note [Member]
Subsequent Event [Line Items]
Warrants Issued	138,462
Subsequent Event [Member] | National Holdings Corporation [Member] | Private Placement [Member]
Subsequent Event [Line Items]
Proceeds from Issuance of Private Placement	$ 7,100,000
Payments of Stock Issuance Costs	$ 700,000
Percentage Of Placement Agent Fee	10.00%
Warrants Issued	109,058
Percentage Of Shares Issued To Placement Agent	10.00%