Hoth Therapeutics (HOTH) 10-K 1 Apr 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Mar. 28, 2019	Jun. 30, 2018
Document And Entity Information
Entity Registrant Name	Hoth Therapeutics, Inc.
Entity Central Index Key	0001711786
Trading Symbol	HOTH
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Ex Transition Period	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		9,425,964

Balance Sheets

Balance Sheets - USD ($)		Dec. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents		$ 282,621	$ 1,230,440
Prepaid expenses		12,356
Deferred offering cost		206,671
Total current assets		501,648	1,230,440
Property and equipment, net		2,268	3,492
Total assets		503,916	1,233,932
Current liabilities
Accounts payable		142,280	47,924
Accrued expenses		206,671	1,542
Total current liabilities		348,951	49,466
Total liabilities		348,951	49,466
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.0001 par value, 5,000,000 shares authorized at December 31, 2018 and 2017; 0 shares issued and outstanding at December 31, 2018 and 2017, respectively	[1]
Common stock, 0.0001 par value, 75,000,000 shares authorized at December 31, 2018 and 2017; 5,071,400 and 4,706,277 shares issued and outstanding at December 31, 2018 and 2017, respectively	[1]	507	470
Additional paid-in-capital		4,665,154	3,199,304
Accumulated deficit		(4,511,006)	(2,015,481)
Total stockholders' equity		154,965	1,184,466
Total liabilities and stockholders' equity		503,916	1,233,932
Series A Preferred Stock
Stockholders' equity
Preferred stock, $0.0001 par value, 5,000,000 shares authorized at December 31, 2018 and 2017; 0 shares issued and outstanding at December 31, 2018 and 2017, respectively	[1]	$ 310	$ 173
[1]	The shares have been retroactively restated, as of December 31, 2017, to reflect the 1-for-4 reverse stock split  approved by the board of directors and stockholders in December 2018, of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company's convertible preferred stock (see Note 1).

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	5,071,400	4,706,277
Common stock, shares outstanding	5,071,400	4,706,277
Series A Preferred Stock
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	3,102,480	1,725,980
Preferred stock, shares outstanding	3,102,480	1,725,980

Statements of Operations

Statements of Operations - USD ($)		8 Months Ended	12 Months Ended
		Dec. 31, 2017	Dec. 31, 2018
Operating costs and expenses
Research and development		$ 67,280	$ 785,274
Research and development - license acquired		519,563	230,693
Compensation and related expenses (including stock-based compensation)		1,015,975	509,667
Professional fees		213,415	682,929
Rent		11,185	28,252
Other expenses		44,063	258,710
Total operating expenses		1,871,481	2,495,525
Loss from operations		(1,871,481)	(2,495,525)
Other expenses
Interest expense		144,000
Total other expenses		144,000
Net loss		$ (2,015,481)	$ (2,495,525)
Weighted average number of common shares outstanding, basic and diluted	[1]	4,267,025	5,031,062
Net loss per share, basic and diluted		$ (0.47)	$ (0.5)
[1]	The shares have been retroactively restated, as of December 31, 2017, to reflect the 1-for-4 reverse stock split  approved by the board of directors and stockholders in December 2018, of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company's convertible preferred stock (see Note 1).

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity - USD ($)		Convertible Preferred Stock		Common Stock		Additional Paid-in Capital	Accumulated Deficit	Total
Balance at May. 15, 2017			[1]		[1]
Balance, shares at May. 15, 2017					[1]
Issuance of common stock for cash				$ 170		674,830		675,000
Issuance of common stock for cash, shares	[1]			1,700,000
Issuance of Series A Convertible Preferred Stock and warrants for cash in an offering		$ 173				1,143,621		1,143,794
Issuance of Series A Convertible Preferred Stock and warrants for cash in an offering, shares	[1]	1,725,980
Warrant value related to Issuance of Series A Convertible Preferred Stock			[1]		[1]	171,569		171,569
Stock-based compensation				$ 18		956,178		956,196
Stock-based compensation, shares	[1]			180,000
Nominal amount paid for shares				$ 225		8,775		9,000
Nominal amount paid for shares, shares	[1]			2,250,000
Stock issued for research and development				$ 6		24,819		24,825
Stock issued for research and development, shares	[1]			62,500
Stock issued for acquired license				$ 51		219,512		219,563
Stock issued for acquired license, shares	[1]			513,777
Net loss			[1]		[1]		(2,015,481)	(2,015,481)
Balance at Dec. 31, 2017		$ 173		$ 470		3,199,304	(2,015,481)	1,184,466
Balance, shares at Dec. 31, 2017	[1]	1,725,980		4,706,277
Issuance of Series A Convertible Preferred Stock and warrants for cash in an offering		$ 137				1,021,417		1,021,554
Issuance of Series A Convertible Preferred Stock and warrants for cash in an offering, shares	[1]	1,376,500
Warrant value related to Issuance of Series A Convertible Preferred Stock			[1]		[1]	164,766		164,766
Stock-based compensation				$ 15		143,038		143,053
Stock-based compensation, shares	[1]			145,970
Stock issued for research and development				$ 4		35,996		36,000
Stock issued for research and development, shares	[1]			37,500
Stock issued for acquired license				$ 21		132,143		132,164
Stock issued for acquired license, shares	[1]			213,166
Repurchase of restricted stock to pay for employee withholding taxes				$ (3)		(31,510)		(31,513)
Repurchase of restricted stock to pay for employee withholding taxes, shares	[1]			(31,513)
Net loss			[1]		[1]		(2,495,525)	(2,495,525)
Balance at Dec. 31, 2018		$ 310		$ 507		$ 4,665,154	$ (4,511,006)	$ 154,965
Balance, shares at Dec. 31, 2018	[1]	3,102,480		5,071,400
[1]	The shares have been retroactively restated, as of December 31, 2017, to reflect the 1-for-4 reverse stock split  approved by the board of directors and stockholders in December 2018, of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company's convertible preferred stock (see Note 1).

Statements of Changes in Stoc_2

Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($)	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Net of offering costs	$ 410,617	$ 190,180

Statements of Cash Flows

Statements of Cash Flows - USD ($)	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Cash flows from operating activities
Net loss	$ (2,015,481)	$ (2,495,525)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expenses	188	1,224
Research and development-stock issued for acquired license, expensed	519,563	132,164
Stock issued for research and development	24,825	36,000
Stock-based compensation	956,196	143,053
Changes in assets and liabilities:
Prepaid expenses		(12,356)
Accrued expenses	1,542	(1,542)
Accounts payable	47,924	94,356
Net cash used in operating activities	(465,243)	(2,102,626)
Cash flows from investing activities
Purchase of research and development licenses	(300,000)
Purchase of property and equipment	(3,680)
Net cash used in investing activities	(303,680)
Cash flows from financing activities
Proceeds from issuance of Series A Convertible Preferred Stock and warrants for cash in an offering, net	1,315,363	1,186,320
Proceeds from issuance of common stock	675,000
Proceeds from issuance of notes payable	204,000
Repayment of notes payable	(204,000)
Proceeds from issuance of notes payable - related party	102,000
Repayment of notes payable - related party	(102,000)
Nominal amount paid for shares by employees and non-employees	9,000
Repurchase of restricted stock to pay for employee withholding taxes		(31,513)
Net cash provided by financing activities	1,999,363	1,154,807
Net (decrease) increase in cash and cash equivalents	1,230,440	(947,819)
Cash and cash equivalents, beginning of period		1,230,440
Cash and cash equivalents, end of period	1,230,440	282,621
Supplemental cash flow information:
Cash paid for interest	144,000
Non-cash investing and financing activities
Offering cost included in accrued expenses		206,671
Common stock issued for acquired license	$ 219,563	$ 132,164

Organization and Description of

Organization and Description of Business Operations	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and description of business operations	Note 1—Organization and description of business operations Hoth Therapeutics, Inc. (the "Company") was incorporated under the laws of the State of Nevada on May 16, 2017. The Company's primary asset is a sublicense agreement with Chelexa Biosciences, Inc. ("Chelexa") pursuant to which Chelexa has granted the Company an exclusive sublicense to use its BioLexa Platform, a proprietary, patented, drug compound platform developed at the University of Cincinnati. The license enables the Company to develop the platform for all indications in humans. The Company's initial focus will be on the treatment of eczema. The BioLexa Platform combines a U.S. Food and Drug Administration ("FDA") approved zinc chelator with one or more approved antibiotics in a topical dosage form to address unchecked eczema flare-ups by preventing the formation of infectious biofilms and the resulting clogging of sweat ducts which trigger symptoms. To the Company's knowledge, it is the first product candidate intended to prevent the symptom triggering flare-ups rather than simply treating symptoms when they occur. On May 26, 2017, the Company entered into a sublicense agreement with Chelexa, as amended on August 22, 2018 and August 29, 2018, pursuant to which Chelexa granted the Company an exclusive sublicense to make, use, have made, import, offer for sale, and sell products based upon or involving the use of (i) topical compositions comprising a zinc chelator and gentamicin and (ii) zinc chelators to inhibit biofilm formation (the "BioLexa Platform" or "BioLexa"), which rights were originally granted to Chelexa pursuant to an exclusive license agreement with the University of Cincinnati. In addition, Chelexa granted the Company the right to issue exclusive and nonexclusive sublicenses (with the right to further sublicense to third parties) to make, use, have made, import, offer for sale, and sell products based upon the BioLexa Platform. Amendment to Articles of Incorporation In December 2018, the Company's board of directors and stockholders approved a 1-for-4 reverse stock split of the Company's issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company's convertible preferred stock (see Note 6). Accordingly, all share and per share amounts for all periods presented in the accompanying financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this reverse stock split and adjustment of the convertible preferred stock conversion ratios. Liquidity and capital resources The Company has incurred substantial operating losses since inception and expects to continue to incur significant operating losses for the foreseeable future and may never become profitable. As of December 31, 2018, the Company had cash of approximately $0.3 million, working capital of approximately $0.2 million and an accumulated deficit of approximately $4.5 million. The Company has funded its operations from proceeds from the sale of equity and debt securities. The Company will require significant additional capital to make the investments it needs to execute its longer-term business plan. The Company's ability to successfully raise sufficient funds through the sale of debt or equity securities when needed is subject to many risks and uncertainties and, even if it were successful, future equity issuances would result in dilution to its existing stockholders and any future debt securities may contain covenants that limit the Company's operations or ability to enter into certain transactions. The proceeds from the Company's initial public offering (see Note 10) and the current cash and cash equivalents are sufficient to fund operations for at least the next 12 months; however, the Company will need to raise additional funding through strategic relationships, public or private equity or debt financings, grants or other arrangements to develop and seek regulatory approvals for the Company's existing and new product candidates. If such funding is not available or not available on terms acceptable to the Company, the Company's current development plan and plans for expansion of its general and administrative infrastructure may be curtailed.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Significant accounting policies	Note 2—Significant accounting policies Basis of presentation The Company’s financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). 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 periods. The most significant estimates in the Company’s financial statements relate to the valuation of preferred and common stock, stock-based compensation and the valuation allowance of deferred tax assets resulting from net operating losses. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected. Segments Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business in one operating segment. Cash and cash equivalents The Company considers all highly liquid investments purchased with original maturities of 90 days or less at acquisition to be cash equivalents. There were no cash equivalents as of December 31, 2018 and 2017. Concentrations of credit risk and off-balance sheet risk Cash and cash equivalents are financial instruments that are potentially subject to concentrations of credit risk. The Company’s cash and cash equivalents are deposited in accounts at large financial institutions, and amounts may exceed federally insured limits. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. The Company has no financial instruments with off-balance sheet risk of loss. Deferred Offering Costs Deferred offering costs, which primarily consist of direct, incremental professional fees incurred in connection with the Company’s IPO as well as other private equity offerings are capitalized as current assets on the balance sheet. Upon the closing of the offering, the deferred offering costs are offset against the offering proceeds. Approximately $0.2 million of such offering costs were accrued but unpaid at December 31, 2018. Research and development costs Research and development costs, including acquired in-process research and development expenses for which there is no alternative future use, 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. Fair value measurement Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: 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 values 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. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Financial Instruments The fair value of the Company’s cash and accounts payable, which qualify as financial instruments under the FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the financial statements. Convertible Preferred Stock The Company applies the accounting standards for distinguishing liabilities from equity when determining the classification and measurement of its preferred stock. Preferred stock subject to mandatory redemption are classified as liability instruments and are measured at fair value. Conditionally redeemable preferred shares (including preferred shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, preferred shares are classified as stockholders’ equity. The Company accounts for convertible preferred stock with detachable warrants in accordance with ASC 470: Debt The Company has also evaluated its convertible preferred stock and warrants in accordance with the provisions of ASC 815, Derivatives and Hedging Accounting for Warrants The Company accounts for the issuance of common stock purchase warrants issued in connection with the equity offerings in accordance with the provisions of ASC 815, Derivatives and Hedging (“ASC 815”) Stock-based compensation The Company expenses stock-based compensation to employees and non-employees over the requisite service period based on the estimated grant-date fair value of the awards. Stock-based awards with graded-vesting schedules are recognized on a straight-line basis over the requisite service period for each separately vesting portion of the award. The Company records the expense for stock-based compensation awards subject to performance-based milestone vesting over the remaining service period when management determines that achievement of the milestone is probable. Management evaluates when the achievement of a performance-based milestone is probable based on the expected satisfaction of the performance conditions at each reporting date. All stock-based compensation costs are recorded in general and administrative or research and development costs in the statements of operations based upon the underlying employees’ or non-employees’ roles within the Company. Income taxes Income taxes are recorded in accordance with ASC 740, Income Taxes The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. Net loss per share Net loss per share is computed by dividing net loss by the weighted average number of common stock outstanding during the period. Since the Company had a net loss in the periods presented, basic and diluted net loss per common share are the same. The following were excluded from the computation of diluted shares outstanding due to the losses for each period presented, as they would have had an anti-dilutive impact on the Company’s net loss: Potentially dilutive securities Year ended For the Period from Series A Convertible Preferred Stock (Common Stock Equivalent) 3,102,480 1,725,980 Warrants 991,367 647,242 Non-vested restricted stock units 21,530 - Total 4,115,377 2,373,222 Recent accounting pronouncements In February 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842), which supersedes FASB ASC Topic 840, Leases (Topic 840) and provides principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. The new standard requires lessees to apply a dual approach, classifying virtually all leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than twelve months regardless of classification. Leases with a term of twelve months or less will be accounted for similar to existing guidance for operating leases. The standard is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted upon issuance. The Company has determined that due to the short term nature of its leases, ASU No. 2016-02 will not have a material impact on its financial statements and related disclosures. In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders’ equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders’ equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. This final rule became effective on November 5, 2018. The Company anticipates its first presentation of the revised presentation of changes in stockholders’ equity will be included in its Form 10-Q for the quarter ended March 31, 2019. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820), - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement,” which makes a number of changes meant to add, modify or remove certain disclosure requirements associated with the movement amongst or hierarchy associated with Level 1, Level 2 and Level 3 fair value measurements. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance of the update. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.

License Agreement

License Agreement	12 Months Ended
	Dec. 31, 2018
License Agreement
License agreement	Note 3—License agreement Chelexa BioSciences, Inc. Chelexa has an exclusive license from the University of Cincinnati to make, use, have made, import for sale, sell and sublicense certain licensed products. In May 2017, the Company paid $300,000 for development and commercialization expenses and issued 250,000 shares of the Company's common stock, with an estimated value of approximately $99,000, to Chelexa for an exclusive sublicense to Chelexa's rights to the certain licensed products. The Company also issued to Chelexa additional common shares in the Company as is required to ensure that Chelexa's ownership position in the Company remained at 10% of the fully-diluted equity of the Company until the Company has closed an equity or debt financing of at least $3 million ("Additional Equity Shares"). Between May 16, 2017 (inception) and December 31, 2017, the Company issued 263,777 Additional Equity Shares of the Company's common stock, with an estimated value of approximately $120,000. Between January 1, 2018 and December 31, 2018, the Company issued 213,166 Additional Equity Shares of the Company's common stock, with an estimated value of approximately $132,000. The Company records the Additional Equity Shares in connection with this license agreement as contingent consideration. Contingent consideration is recorded when probable and reasonably estimable. The Company reached its equity or debt financing threshold of $3 million as of March 31, 2018. Therefore, the Company is no longer obligated to issue Additional Equity Shares as of December 31, 2018. Furthermore, pursuant to the sublicense agreement, Chelexa has the right to participate in certain equity issuances made by the Company for purposes of raising capital based upon its pro-rata share to enable Chelexa to retain 10% of the fully-diluted equity ("Participation Right") of the Company until such time as the Company consummates an initial public offering pursuant to which it receives aggregate gross proceeds of not less than $5,000,000. This Participation Right expired upon the closing of the IPO. The sublicense agreement will continue until the later of April 16, 2034 and the last to expire patent, unless earlier terminated pursuant to the terms of the agreement. The Company, in its sole discretion, has the first right of refusal to renew the term. The Company is subject to total milestone payments of $3.5 million, royalty payments and has agreed to fund all development and commercialization costs related to the licensed products .

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Notes payable	Note 4—Notes payable In May 2017, the Company had entered into notes of $450,000 with an original issue discount of $144,000. The notes were due and payable upon the Company raising additional capital in excess of $500,000. These notes were paid off on July 5, 2017. The Company’s Chief Executive Officer, participated in one-third of this note payable transaction or $150,000.

Related Party

Related Party	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related party	Note 5—Related party A director of the Company, is also the executive chairman of Chelexa. That director receives $30,000 cash compensation per year for the service provided as a board member of the Company. He has also received an initial stock grant for 25,000 shares of common stock and a subsequent stock grant of 12,500 shares of common stock. Furthermore, he receives $10,000 cash compensation per year for his services as a member of the Company’s Scientific Advisory Board. He also received an additional stock grant for 12,500 shares of common stock for his services as a member of the Company’s Scientific Advisory Board.

Convertible Preferred stock and

Convertible Preferred stock and Warrants	12 Months Ended
	Dec. 31, 2018
Convertible Preferred Stock And Warrants
Convertible Preferred stock and Warrants	Note 6—Convertible Preferred stock and Warrants On July 6, 2017, the Company entered into an engagement agreement with Laidlaw & Co. (UK) Ltd. ("Laidlaw"). Laidlaw received seven-year warrants to purchase 215,747 shares of common stock of the Company at an exercise price of $1.00 per share. During the period from May 16, 2017 (inception) through December 31, 2017, the Company raised $1.3 million (net of offering costs) in cash from investors in exchange for the issuance of 17.26 units of Preferred Shares, with each unit consisting of (a) 100,000 shares of Series A Convertible Preferred Stock ("Preferred Shares"), par value $0.0001 per share, of the Company at a purchase price of $1.00 per share, which Preferred Shares are convertible into an aggregate of 100,000 shares the Company's common stock, par value $0.0001 per share, and (b) a warrant to purchase shares of common stock equal to 25% of the Conversion Shares at an exercise price per share equal to $1.00 per share. During the year ended December 31, 2018, the Company raised $1.2 million (net of offering costs) in cash from investors in exchange for the issuance of 13.77 units. As of December 31, 2018 and 2017, the Company had 5,000,000 Preferred Shares authorized with 3,102,480 and 1,725,980 shares outstanding, respectively (see Note 7 for more information). The Preferred Shares are not mandatorily redeemable and does not embody an unconditional obligation to settle in a variable number of equity shares. As such, Preferred Shares are classified as permanent equity on the balance sheets. The holders' contingent redemption right in the event of certain deemed liquidation events does not preclude permanent equity classification. Further, the Preferred Shares are considered an equity-like host for purposes of assessing embedded derivative features for potential bifurcation. The embedded conversion feature is considered to be clearly and closely related to the associated preferred stock host instrument and therefore was not bifurcated from the equity host. The Company has determined that the warrants should be accounted as a component of stockholders' equity. For the warrants issued during the year ended December 31, 2018, on the issuance date, the Company estimated the relative fair value of the warrants at $0.1 million using the Black-Scholes option pricing model using the following primary assumptions: fair value of common stock underlying the warrants is $0.16, expected life of 7.0 years, volatility rate of 75.0%, risk-free interest rate of 1.83% and expected dividend rate of 0%. Based on the warrant's relative fair value to the fair value of the Preferred Shares, approximately $0.2 million of the $1.2 million of aggregate fair value was allocated to the warrants, creating a corresponding preferred stock discount in the same amount. For the warrants issued during the period from May 16, 2017 (inception) through December 31, 2017, the Company estimated the relative fair value of the warrants at $0.2 million using the Black-Scholes option pricing model using the following primary assumptions: fair value of common stock underlying the warrants is $0.15, expected life of 7.0 years, volatility rate of 75.0%, risk-free interest rate of 1.39% and expected dividend rate of 0%. Based on the warrant's relative fair value to the fair value of the Preferred Shares, approximately $0.2 million of the $1.3 million of aggregate fair value was allocated to the warrants, creating a corresponding preferred stock discount in the same amount.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Stockholders' Equity	Note 7—Stockholders' Equity Preferred Stock The Company is authorized to issue up to 10,000,000 shares of preferred stock. This preferred stock may be issued in one or more series, and shall have such designations, preferences and relative, participating, optional or other special rights and qualifications, limitations or restrictions thereof as shall be determined at the time of issuance by our board of directors without further action by shareholders. As of December 31, 2018, 5,000,000 shares of the Company's preferred stock has been designated as Series A Preferred Stock of which 3,102,480 shares which were previously issued were converted into common stock at the time of our initial public offering and 1,897,520 Preferred Shares remain authorized. Common Shares On June 30, 2017, the Company entered into a securities purchase agreement with Spherix Incorporated pursuant to which the Company sold 1,700,000 shares of its common stock for proceeds of $675,000. Anthony Hayes, a member of the Company's board of directors is the Chief Executive Officer and member of the board of directors of Spherix Incorporated. 2017 Equity Grants Employees In May 2017, the Company's Chief Executive Officer and co-founder was issued 750,000 shares of the Company's common stock for a nominal price of $3,000. The stock was valued at $0.0993 per common share based on the cash price paid for the 1,700,000 shares in May 2017. The difference between the approximately $298,000 valuation of the 750,000 shares and the $3,000 paid was recorded as stock-based compensation expense. Other Co-Founders In May 2017, two founders were each issued 750,000 shares of the Company's common stock for a nominal price of $3,000 each (totaling 1,500,000 shares of common stock for $6,000). The Company also issued 25,000 shares of common stock to another consultant. The stock was valued at $0.3972 per common share based on the cash price paid for the 1,700,000 shares in May 2017. The difference between the approximately $0.6 million valuation of the 1,525,000 shares and the $6,000 paid was recorded as stock-based compensation expense. Directors During the period from May 16, 2017 (inception) through December 31, 2017, the Company issued a total of 155,000 shares of common stock to four directors. The stock was valued at $0.3972 per common share based on the cash price paid for the 1,700,000 shares in May 2017. The approximately $62,000 valuation of the 155,000 shares was recorded as stock-based compensation expense. Non-employees From May 29, 2017 to August 17, 2017, the Company issued 62,500 common shares with a fair value of $24,825 to member of the Company's Scientific Advisory Board. 2018 Equity Grants Employees In January 2018, the Company granted an employee 25,000 shares of common stock with a $15,000 fair value. Non-employees On March 23, 2018, the Company granted 12,500 shares of common stock of the Company to a member of the Company's Scientific Advisory Board. The fair value of the stock award was $11,000. 2018 Equity Incentive Plan The Company's 2018 Equity Incentive Plan (the "2018 Plan") was adopted by its board of directors on May 4, 2018 and by its shareholders on May 4, 2018. The Company has reserved 1,000,000 shares of common stock for issuance pursuant to the 2018 Plan. As of December 31, 2018, there were 135,987 shares granted under the 2018 Plan as noted below. Non-employees On May 4, 2018, the Company granted 12,500 shares of common stock of the Company under the 2018 Plan to a member of the Company's Scientific Advisory Board. The fair value of the stock award was $12,500. Employees On May 4, 2018, the Company granted the same employee 5,000 shares of common stock under the 2018 Plan with a $5,000 fair value. The Company's Chief Executive Officer and co-founder was issued 87,500 shares of common stock for a value of $87,500. On August 15, 2018, the Company bought back 31,513 shares from the employees who were issued common stock as part of the 2018 Plan to pay for payroll taxes. The fair value of the shares was $31,513. Immediately after the buyback of 31,513 shares such shares were immediately cancelled. Directors During the year ended December 31, 2018, the Company issued a total of 25,000 shares of common stock under the 2018 Plan to two directors for a value of $25,000. Restricted Stock Awards During the year ended 2018, 37,500 shares of restricted stock awards with a fair value of approximately $38,000 were granted 12,500 shares of these restricted stock awards were vested immediately and 25,000 shares of these restricted stock awards were vested in 1/36 increments in monthly installments beginning August 3, 2018. A summary of the Company's restricted stock awards granted under the 2018 Plan during the years ended December 31, 2018 and for the period from May 16, 2017 (inception) through December 31, 2017 is as follows: Number of Units Weighted Average Grant Day Fair Value Nonvested at May 16, 2017 (inception) - $ - Nonvested at December 31, 2017 - - Granted 37,500 0.25 Vested (15,970 ) 0.25 Nonvested at December 31, 2018 21,530 $ 0.25 As of December 31, 2018, approximately $14,000 of unrecognized stock-based compensation expense related to restricted stock awards. Stock Based Compensation Stock-based compensation expense for the year ended December 31, 2018 and for the period from May 16, 2017 (inception) through December 31, 2017 was approximately $0.1 million and $1.0 million, respectively, and comprised of the following: Year ended For the Period Employee common stock awards $ 107,500 $ 294,900 Directors common stock awards 25,000 61,566 Other Co-Founders common stock awards - 599,730 Employee restricted stock awards 10,553 - $ 143,053 $ 956,196 In addition, the Company recorded $36,000 and $24,825 of stock issued for research and development services for the year ended December 31, 2018 and for the period from May 16, 2017 (inception) through December 31, 2017, respectively. Warrant Activity A summary of warrant activity for the year ended December 31, 2018 and for the period from May 16, 2017 (inception) through December 31, 2017 is presented below: Number of Warrants Weighted Average Exercise Price Total Intrinsic Value Weighted Average Remaining Contractual Life (in years) Outstanding as of May 16, 2017 (inception) - $ - $ - - Issued 647,242 0.25 - 6.9 Outstanding as of December 31, 2017 647,242 $ 0.25 $ - 6.9 Issued 344,125 0.25 - 6.1 Outstanding as of December 31, 2018 991,367 $ 0.25 $ - 5.9 Warrants exercisable as of December 31, 2018 991,367 $ 0.25 $ - 5.9

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 8—Commitments and contingencies Office lease The Company leases office space that commenced on July 15, 2017, for approximately $2,000 a month. Rent expense for the year ended December 31, 2018 and for the period from May 16, 2017 (inception) through December 31, 2017 was approximately $28,000 and $11,000, respectively. Litigation The Company is not a party to any material legal proceedings and is not aware of any pending or threatened claims. From time to time, the Company may be subject to various legal proceedings and claims that arise in the ordinary course of its business activities.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income taxes	Note 9—Income taxes The table below presents the components of the provision for taxes: As of December 31, 2018 2017 Current US Federal $ - $ - US State - - Total current provision - - Deferred US Federal 414,952 422,515 US State 2,825 2,877 Total deferred benefit 417,777 425,392 Change in valuation allowance (417,777 ) (425,392 ) Total provision for income taxes $ - $ - At December 31, 2018 and 2017, the tax effects of the temporary differences and carryforwards that give rise to deferred tax assets consist of the following: As of December 31, 2018 2017 Deferred tax assets: Net operating loss carryforward $ 701,785 $ 317,700 License acquired 144,265 107,692 Total deferred income tax assets 846,050 425,392 Deferred income tax assets Prepaids (2,613 ) - Depreciation fixed assets (267 ) - Total deferred income tax (2,880 ) - Net deferred income tax assets 843,170 425,392 Valuation allowance (843,170 ) (425,392 ) Deferred tax asset, net of $ - $ - A reconciliation of the statutory income tax rates and the Company's effective tax rate for the year ended December 31, 2018 and for the period from May 16, 2017 (inception) through December 31, 2017 is as follows: Year ended For the Period from Statutory federal income tax rate (21.0 )% (34.0 )% State taxes, net of federal tax benefit (0.1 )% (0.1 )% Federal tax rate change - % 13.0 % Meals and entertainment - % 0.1 % Change in valuation allowance 21.1 % 21.1 % Income taxes provision (benefit) - % - % The Company has determined, based upon available evidence, that it is more likely than not that the net deferred tax assets will not be realized and, accordingly, has provided a full valuation allowance against its net deferred tax assets. As of December 31, 2018, the Company has net operating loss carryforwards of approximately $3.3 million available to reduce future taxable income, if any, for Federal and state income tax purposes. Approximately $1.5 million of Federal net operating losses can be carried forward to future tax years and expire in 2037. The Federal net operating loss generated during the year ended December 31, 2018 of approximately $1.8 million can be carried forward indefinitely. However, the deduction for net operating losses incurred in tax years beginning after January 1, 2018 is limited to 80% of annual taxable income. At December 31, 2018 and 2017, the Company did not have any significant uncertain tax positions. The Company will recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2018 and 2017, the Company had no accrued interest or penalties related to uncertain tax positions and no amounts have been recognized in the Company's statement of operations. The Company does not anticipate a material change to unrecognized tax benefits in the next twelve months. All of the Company's tax years will remain open for examination by the Federal and state tax authorities from the date of utilization of the net operating loss.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 10 — The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Company's IPO On February 15, 2019, the Company announced the pricing of its initial public offering (the "IPO") of 1,250,000 shares of its common stock at an initial offering price to the public of $5.60 per share. In addition, the Company granted the underwriters a 45-day option to purchase up to an additional 187,500 shares of common stock at the initial public offering price, less the underwriting discount, to cover over-allotments (the "Green-shoe"), if any. The underwriters have not exercised the Green-shoe as of March 29, 2019. Therefore, the Company issued 1,250,000 shares of common stock and received net proceeds of $5.7 million from the IPO. The Company's common stock commenced trading on The Nasdaq Capital Market, on February 15, 2019 under the ticker symbol "HOTH". The IPO closed on February 20, 2019. On February 14, 2019, the Company entered into an underwriting agreement with Laidlaw pursuant to which the Company paid Laidlaw a fee in the amount of 7% of the gross proceeds of the IPO, or $490,000. The Company also reimbursed Laidlaw for certain out-of-pocket expenses, including the fees and disbursements of their counsel, up to an aggregate of $200,000. In addition, Laidlaw received five-year warrants to purchase 50,000 shares of common stock of the Company at an exercise price of $7.00 per share.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The Company’s financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”).
Use of estimates	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 periods. The most significant estimates in the Company’s financial statements relate to the valuation of preferred and common stock, stock-based compensation and the valuation allowance of deferred tax assets resulting from net operating losses. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected.
Segments	Segments Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business in one operating segment.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid investments purchased with original maturities of 90 days or less at acquisition to be cash equivalents. There were no cash equivalents as of December 31, 2018 and 2017.
Concentrations of credit risk and off-balance sheet risk	Concentrations of credit risk and off-balance sheet risk Cash and cash equivalents are financial instruments that are potentially subject to concentrations of credit risk. The Company’s cash and cash equivalents are deposited in accounts at large financial institutions, and amounts may exceed federally insured limits. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. The Company has no financial instruments with off-balance sheet risk of loss.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs, which primarily consist of direct, incremental professional fees incurred in connection with the Company’s IPO as well as other private equity offerings are capitalized as current assets on the balance sheet. Upon the closing of the offering, the deferred offering costs are offset against the offering proceeds. Approximately $0.2 million of such offering costs were accrued but unpaid at December 31, 2018.
Research and development costs	Research and development costs Research and development costs, including acquired in-process research and development expenses for which there is no alternative future use, 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.
Fair value measurement	Fair value measurement Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: 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 values 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. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.
Financial Instruments	Financial Instruments The fair value of the Company’s cash and accounts payable, which qualify as financial instruments under the FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the financial statements.
Convertible Preferred Stock	Convertible Preferred Stock The Company applies the accounting standards for distinguishing liabilities from equity when determining the classification and measurement of its preferred stock. Preferred stock subject to mandatory redemption are classified as liability instruments and are measured at fair value. Conditionally redeemable preferred shares (including preferred shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company's control) are classified as temporary equity. At all other times, preferred shares are classified as stockholders' equity. The Company accounts for convertible preferred stock with detachable warrants in accordance with ASC 470: Debt The Company has also evaluated its convertible preferred stock and warrants in accordance with the provisions of ASC 815, Derivatives and Hedging
Accounting for Warrants	Accounting for Warrants The Company accounts for the issuance of common stock purchase warrants issued in connection with the equity offerings in accordance with the provisions of ASC 815, Derivatives and Hedging (“ASC 815”)
Stock-based compensation	Stock-based compensation The Company expenses stock-based compensation to employees and non-employees over the requisite service period based on the estimated grant-date fair value of the awards. Stock-based awards with graded-vesting schedules are recognized on a straight-line basis over the requisite service period for each separately vesting portion of the award. The Company records the expense for stock-based compensation awards subject to performance-based milestone vesting over the remaining service period when management determines that achievement of the milestone is probable. Management evaluates when the achievement of a performance-based milestone is probable based on the expected satisfaction of the performance conditions at each reporting date. All stock-based compensation costs are recorded in general and administrative or research and development costs in the statements of operations based upon the underlying employees’ or non-employees’ roles within the Company.
Income taxes	Income taxes Income taxes are recorded in accordance with ASC 740, Income Taxes The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances.
Net loss per share	Net loss per share Net loss per share is computed by dividing net loss by the weighted average number of common stock outstanding during the period. Since the Company had a net loss in the periods presented, basic and diluted net loss per common share are the same. The following were excluded from the computation of diluted shares outstanding due to the losses for each period presented, as they would have had an anti-dilutive impact on the Company’s net loss: Potentially dilutive securities Year ended For the Period from Series A Convertible Preferred Stock (Common Stock Equivalent) 3,102,480 1,725,980 Warrants 991,367 647,242 Non-vested restricted stock units 21,530 - Total 4,115,377 2,373,222
Recent accounting pronouncements	Recent accounting pronouncements In February 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842), which supersedes FASB ASC Topic 840, Leases (Topic 840) and provides principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. The new standard requires lessees to apply a dual approach, classifying virtually all leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than twelve months regardless of classification. Leases with a term of twelve months or less will be accounted for similar to existing guidance for operating leases. The standard is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted upon issuance. The Company has determined that due to the short term nature of its leases, ASU No. 2016-02 will not have a material impact on its financial statements and related disclosures. In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. This final rule became effective on November 5, 2018. The Company anticipates its first presentation of the revised presentation of changes in stockholders' equity will be included in its Form 10-Q for the quarter ended March 31, 2019. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820), - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement," which makes a number of changes meant to add, modify or remove certain disclosure requirements associated with the movement amongst or hierarchy associated with Level 1, Level 2 and Level 3 fair value measurements. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance of the update. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of anti-dilutive impact on net loss	Potentially dilutive securities Year ended For the Period from Series A Convertible Preferred Stock (Common Stock Equivalent) 3,102,480 1,725,980 Warrants 991,367 647,242 Non-vested restricted stock units 21,530 - Total 4,115,377 2,373,222

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Schedule of restricted stock awards granted under the 2018 Plan	Number of Units Weighted Average Grant Day Fair Value Nonvested at May 16, 2017 (inception) - $ - Nonvested at December 31, 2017 - - Granted 37,500 0.25 Vested (15,970 ) 0.25 Nonvested at December 31, 2018 21,530 $ 0.25
Schedule of Stock based compensation expense	Year ended For the Period Employee common stock awards $ 107,500 $ 294,900 Directors common stock awards 25,000 61,566 Other Co-Founders common stock awards - 599,730 Employee restricted stock awards 10,553 - $ 143,053 $ 956,196
Summary of warrant activity	Number of Warrants Weighted Average Total Intrinsic Value Weighted Average Remaining Contractual Life (in years) Outstanding as of May 16, 2017 (inception) - $ - $ - - Issued 647,242 0.25 - 6.9 Outstanding as of December 31, 2017 647,242 $ 0.25 $ - 6.9 Issued 344,125 0.25 - 6.1 Outstanding as of December 31, 2018 991,367 $ 0.25 $ - 5.9 Warrants exercisable as of December 31, 2018 991,367 $ 0.25 $ - 5.9

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of components of the provision for taxes	As of December 31, 2018 2017 Current US Federal $ - $ - US State - - Total current provision - - Deferred US Federal 414,952 422,515 US State 2,825 2,877 Total deferred benefit 417,777 425,392 Change in valuation allowance (417,777 ) (425,392 ) Total provision for income taxes $ - $ -
Schedule of deferred tax assets	As of December 31, 2018 2017 Deferred tax assets: Net operating loss carryforward $ 701,785 $ 317,700 License acquired 144,265 107,692 Total deferred income tax assets 846,050 425,392 Deferred income tax assets Prepaids (2,613 ) - Depreciation fixed assets (267 ) - Total deferred income tax (2,880 ) - Net deferred income tax assets 843,170 425,392 Valuation allowance (843,170 ) (425,392 ) Deferred tax asset, net of $ - $ -
Schedule of statutory income tax rates	Year ended For the Period from Statutory federal income tax rate (21.0 )% (34.0 )% State taxes, net of federal tax benefit (0.1 )% (0.1 )% Federal tax rate change - % 13.0 % Meals and entertainment - % 0.1 % Change in valuation allowance 21.1 % 21.1 % Income taxes provision (benefit) - % - %

Organization and Description _2

Organization and Description of Business Operations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Organization and Description of Business Operations (Textual)
Reverse stock split of issued and outstanding shares of common stock	1-for-4
Cash	$ 300,000
Working capital	200,000
Accumulated deficit	$ (4,511,006)	$ (2,015,481)

Significant Accounting Polici_4

Significant Accounting Policies (Details) - USD ($)	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Potentially dilutive securities
Total	2,373,222	4,115,377
Deferred offering costs		$ 206,671
Series A Convertible Preferred Stock (Common Stock Equivalent) [Member]
Potentially dilutive securities
Total	1,725,980	3,102,480
Warrants [Member]
Potentially dilutive securities
Total	647,242	991,367
Non-vested restricted stock units [Member]
Potentially dilutive securities
Total		21,530

License Agreement (Details)

License Agreement (Details) - Chelexa BioSciences, Inc. [Member] - USD ($)	1 Months Ended	8 Months Ended	12 Months Ended
	May 31, 2017	Dec. 31, 2017	Dec. 31, 2018	Mar. 31, 2018
License Agreement (Textual)
Development and commercialization expenses	$ 300,000
Issued shares	250,000
Estimated value of shares	$ 99,000
Fully-diluted equity, percemtage	10.00%		10.00%
Equity or debt financing	$ 3,000,000			$ 3,000,000
Milestone payments			$ 3,500,000
Gross proceeds			$ 5,000,000
Additional Equity Shares [Member]
License Agreement (Textual)
Issued shares		263,777	213,166
Estimated value of shares		$ 120,000	$ 132,000

Notes Payable (Details)

Notes Payable (Details)	1 Months Ended
	May 31, 2017USD ($)
Notes Payable (Textual)
Notes	$ 450,000
Discount issue	144,000
Additional capital	500,000
Chief Executive Officer [Member]
Notes Payable (Textual)
Notes	$ 150,000

Related Party (Details)

Related Party (Details)	12 Months Ended
	Dec. 31, 2018
Chelexa [Member]
Related Party (Textual)
Service provided, description	That director receives $30,000 cash compensation per year for the service provided as a board member of the Company. He has also received an initial stock grant for 25,000 shares of common stock and a subsequent stock grant of 12,500 shares of common stock. Furthermore, he receives $10,000 cash compensation per year for his services as a member of the Company's Scientific Advisory Board. He also received an additional stock grant for 12,500 shares of common stock for his services as a member of the Company's Scientific Advisory Board.

Convertible Preferred stock a_2

Convertible Preferred stock and Warrants (Details) - USD ($)	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Jul. 06, 2017
Convertible Preferred stock and Warrants (Textual)
Cash from investors	$ 1,300,000
Conversion of stock, description		The Company raised $1.2 million (net of offering costs) in cash from investors in exchange for the issuance of 13.77 units.
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, outstanding	0	0
Laidlaw [Member]
Convertible Preferred stock and Warrants (Textual)
Purchase of warrants			215,747
Warrants, exercise price			$ 1
Warrants [Member]
Convertible Preferred stock and Warrants (Textual)
Warrants, exercise price	$ 0.15	$ 0.16
Fair value of warrants	$ 200,000	$ 100,000
Expected life	7 years	7 years
Volatility rate	75.00%	75.00%
Risk-free interest rate	1.39%	1.83%
Expected dividend rate	0.00%	0.00%
Convertible debt, fair value	$ 1,300,000	$ 1,200,000
Series A Convertible Preferred Stock [Member]
Convertible Preferred stock and Warrants (Textual)
Conversion of stock, description	Issuance of 17.26 units of Preferred Shares, with each unit consisting of (a) 100,000 shares of Series A Convertible Preferred Stock ("Preferred Shares"), par value $0.0001 per share, of the Company at a purchase price of $1.00 per share, which Preferred Shares are convertible into an aggregate of 100,000 shares the Company's common stock, par value $0.0001 per share, and (b) a warrant to purchase shares of common stock equal to 25% of the Conversion Shares at an exercise price per share equal to $1.00 per share.
Convertible debt, fair value	$ 200,000	$ 200,000
Series A Preferred Stock
Convertible Preferred stock and Warrants (Textual)
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, outstanding	1,725,980	3,102,480

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Restricted Stock Awards [Member] - $ / shares	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Number of Units
Number of Shares, Nonvested Beginning Balance
Number of Shares, Granted		37,500
Number of Shares, Vested		(15,970)
Number of Shares, Nonvested Ending Balance		21,530
Weighted Average Grant Day Fair Value
Weighted average grant day fair value, Nonvested Beginning balance
Weighted average grant day fair value, Granted		0.25
Weighted average grant day fair value, Vested		0.25
Weighted average grant day fair value, Nonvested Ending balance		$ 0.25

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - USD ($)	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Stock-based compensation	$ 956,196	$ 143,053
Restricted Stock Awards [Member]
Stock-based compensation	956,196	143,053
Restricted Stock Awards [Member] | Employee common stock awards [Member]
Stock-based compensation	294,900	107,500
Restricted Stock Awards [Member] | Directors common stock awards [Member]
Stock-based compensation	61,566	25,000
Restricted Stock Awards [Member] | Other Co-Founders common stock awards [Member]
Stock-based compensation	599,730
Restricted Stock Awards [Member] | Employee restricted stock awards [Member]
Stock-based compensation		$ 10,553

Stockholders_ Equity (Details 2

Stockholders’ Equity (Details 2) - Warrants [Member] - USD ($)	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Number of Warrants
Outstanding		647,242
Issued	647,242	344,125
Outstanding	647,242	991,367
Warrants exercisable		991,367
Weighted Average Exercise Price
Outstanding		$ 0.25
Issued	0.25	0.25
Outstanding	$ 0.25	0.25
Warrants exercisable		$ 0.25
Total Intrinsic Value
Outstanding
Issued
Outstanding
Warrants exercisable
Weighted Average Remaining Contractual Life (in years)
Outstanding		6 years 10 months 25 days
Issued	6 years 10 months 25 days	6 years 1 month 6 days
Outstanding	6 years 10 months 25 days	5 years 10 months 25 days
Warrants exercisable		5 years 10 months 25 days

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual)		Dec. 06, 2018	Aug. 15, 2018USD ($)shares	May 04, 2018USD ($)shares	Mar. 23, 2018USD ($)shares	Jan. 31, 2018USD ($)shares	Aug. 17, 2017USD ($)shares	May 31, 2017USD ($)Founders$ / sharesshares	May 31, 2017$ / sharesshares	Dec. 31, 2017USD ($)Directorsshares	Dec. 31, 2018USD ($)Directorsshares	Jun. 30, 2017USD ($)shares
Fair value of the stock award | $	[1]									$ 470	$ 507
Issuance of shares of common stock, shares							62,500
Issuance of shares of common stock | $							$ 24,825
Stock-based compensation | $										$ 1,000,000	100,000
Unrecognized stock-based compensation expense | $											$ 14,000
Reserve stock split		The Company effected a 1-for-4 reverse stock split of its issued and outstanding shares of common stock
Restricted stock awards fair value, shares											37,500
Restricted stock awards fair value | $											$ 38,000
Restricted stock awards vested, description											12,500 shares of these restricted stock awards were vested immediately and 25,000 shares of these restricted stock awards were vested in 1/36 increments in monthly installments beginning August 3, 2018.
Preferred stock, shares authorized										5,000,000	5,000,000
Common stock sold												1,700,000
Common stock shares proceeds | $												$ 675,000
Common stock issued to other co founders, description									Two founders were each issued 750,000 shares of the Company's common stock for a nominal price of $3,000 each (totaling 1,500,000 shares of common stock for $6,000). The Company also issued 25,000 shares of common stock to another consultant. The stock was valued at $0.3972 per common share based on the cash price paid for the 1,700,000 shares in May 2017. The difference between the approximately $0.6 million valuation of the 1,525,000 shares and the $6,000 paid was recorded as stock-based compensation expense.
Convertible Preferred Stock
Stock-based compensation, shares	[1]
Preferred stock, shares authorized											10,000,000
Preferred stock designated											5,000,000
Preferred stock converted into common stock											3,102,480
Preferred Shares remain authorized											1,897,520
Chief Executive Officer and co-founder [Member]
Fair value of the stock award | $				$ 87,500
Shares issued to employees | $								$ 298,000
Shares issued to employees, shares								750,000
Nominal price of the shares | $				$ 87,500				$ 3,000
Stock-based compensation | $								$ 3,000
Shares of common stock								1,700,000	1,700,000
Common stock price per share | $ / shares								$ 0.0993	$ 0.0993
Directors [Member]
Issuance of shares of common stock, shares										155,000
Issuance of shares of common stock | $										$ 62,000
Number of directors | Directors										4
Stock-based compensation, shares										155,000
Shares of common stock								1,700,000	1,700,000
Common stock price per share | $ / shares								$ 0.3972	$ 0.3972
Founder One [Member]
Shares issued to employees, shares								750,000
Nominal price of the shares | $								$ 3,000
Founder Two [Member]
Shares issued to employees, shares								750,000
Nominal price of the shares | $								$ 3,000
Consultant [Member]
Issuance of shares of common stock, shares								25,000
Other Co-Founders [Member]
Shares issued to employees, shares								1,750,000
Nominal price of the shares | $								$ 6,000
Issuance of shares of common stock, shares								1,525,000
Issuance of shares of common stock | $								$ 600,000
Stock-based compensation | $								$ 6,000
Number of founders | Founders								2
Shares of common stock								1,700,000	1,700,000
Common stock price per share | $ / shares								$ 0.3972	$ 0.3972
Director [Member]
Common stock issued to other co founders, description										The Company issued a total of 155,000 shares of common stock to four directors. The stock was valued at $0.3972 per common share based on the cash price paid for the 1,700,000 shares in May 2017. The approximately $62,000 valuation of the 155,000 shares was recorded as stock-based compensation expense.
Non Employee [Member]
Options granted					12,500
Fair value of the stock award | $					$ 11,000
Employee [Member]
Options granted						25,000
Fair value of the stock award | $						$ 15,000
2018 Equity Incentive Plan [Member]
Employee stock purchase plan, description											The Company's 2018 Equity Incentive Plan (the "2018 Plan") was adopted by its board of directors on May 4, 2018 and by its shareholders on May 4, 2018. The Company has reserved 1,000,000 shares of common stock for issuance pursuant to the 2018 Plan. As of December 31, 2018, there were 135,987 shares granted under the 2018 Plan as noted below.
2018 Equity Incentive Plan [Member]
Common stock reserved for issuance				1,000,000
Options granted											135,987
Repurchse of issued common stock			31,513
Buyback common stock | $			$ 31,513
Buyback shares cancelled			31,513
2018 Equity Incentive Plan [Member] | Directors [Member]
Fair value of the stock award | $											$ 25,000
Issuance of shares of common stock, shares											25,000
Number of directors | Directors											2
2018 Equity Incentive Plan [Member] | Non Employee [Member]
Options granted				12,500
Fair value of the stock award | $				$ 12,500
2018 Equity Incentive Plan [Member] | Employee [Member]
Options granted				5,000
Fair value of the stock award | $				$ 5,000
[1]	The shares have been retroactively restated, as of December 31, 2017, to reflect the 1-for-4 reverse stock split  approved by the board of directors and stockholders in December 2018, of its issued and outstanding shares of common stock and a proportional adjustment to the existing conversion ratios for each series of the Company's convertible preferred stock (see Note 1).

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Commitments and Contingencies (Textual)
Lease agreement terms, description		The Company leases office space that commenced on July 15, 2017, for approximately $2,000 a month.
Rent expense	$ 11,000	$ 28,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Current
US Federal
US State
Total current provision
Deferred
US Federal	422,515	414,952
US State	2,877	2,825
Total deferred benefit	425,392	417,777
Change in valuation allowance	(425,392)	(417,777)
Total provision for income taxes

Income Taxes (Details 1)

Income Taxes (Details 1)	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	(34.00%)	(21.00%)
State taxes, net of federal tax benefit	(0.10%)	(0.10%)
Federal tax rate change	13.00%
Meals and entertainment	0.10%
Change in valuation allowance	21.10%	21.10%
Income taxes provision (benefit)

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Net operating loss carryforward	$ 701,785	$ 317,700
License acquired	144,265	107,692
Total deferred income tax assets	846,050	425,392
Deferred income tax assets
Prepaids	(2,613)
Depreciation fixed assets	(267)
Total deferred income tax	(2,880)
Net deferred income tax assets	843,170	425,392
Valuation allowance	(843,170)	(425,392)
Deferred tax asset, net of

Income Taxes (Details Textual)

Income Taxes (Details Textual)	12 Months Ended
	Dec. 31, 2018USD ($)
Income Taxes (Textual)
Net operating loss carryforwards	$ 3,300,000
Federal net operating losses carried forward	$ 1,800,000
Operating loss expiry date	Dec. 31, 2037
Annual taxable income	80.00%
Federal net operating losses carried forward to future	1,500,000

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - Initial public offering [Member] - USD ($)	1 Months Ended
	Feb. 15, 2019	Feb. 14, 2019
Subsequent Events (Textual)
Subsequent events, description		The Company entered into an underwriting agreement with Laidlaw pursuant to which the Company paid Laidlaw a fee in the amount of 7% of the gross proceeds of the IPO, or $490,000. The Company also reimbursed Laidlaw for certain out-of-pocket expenses, including the fees and disbursements of their counsel, up to an aggregate of $200,000. In addition, Laidlaw received five-year warrants to purchase 50,000 shares of common stock of the Company at an exercise price of $7.00 per share.
Common stock issued for initial public offering price	1,250,000
Net proceeds from initial public offering	$ 5,700,000
Initial offering price per share	$ 5.60
Additional common stock, description	The Company granted the underwriters a 30-day option to purchase up to an additional 187,500 shares of common stock at the initial public offering price ("Green-shoe"), less the underwriting discount, to cover over-allotments, if any. The underwriters have not exercised the Green-shoe as of March 29, 2019.