Hoth Therapeutics (HOTH) 10-K 2 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Feb. 28, 2020	Jun. 30, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Hoth Therapeutics, Inc.
Entity Central Index Key	0001711786
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Ex Transition Period	false
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Public Float			$ 36,213,771
Entity File Number	001-38803
Entity Incorporation State Country Code	NV
Entity Common Stock, Shares Outstanding		10,118,732

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash	$ 1,690,866	$ 282,621
Marketable securities	803,664
Prepaid expenses	110,072	12,356
Deferred offering cost	30,484	206,671
Total current assets	2,635,086	501,648
Property and equipment, net	1,043	2,268
Restricted cash	200,000
Total assets	2,836,129	503,916
Current liabilities
Accounts payable	403,885	142,280
Accrued expenses	36,236	206,671
Total current liabilities	440,121	348,951
Total liabilities	440,121	348,951
Stockholders' equity
Preferred stock value
Common stock, $0.0001 par value, 75,000,000 shares authorized, 10,119,844 and 5,071,400 shares issued and outstanding at December 31, 2019 and 2018, respectively	1,012	507
Additional paid-in-capital	14,610,638	4,665,154
Accumulated deficit	(12,215,642)	(4,511,006)
Total stockholders' equity	2,396,008	154,965
Total liabilities and stockholders' equity	2,836,129	503,916
Series A Preferred Stock
Stockholders' equity
Preferred stock value		$ 310

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
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	10,119,844	5,071,400
Common stock, shares outstanding	10,119,844	5,071,400
Series A Preferred Stock
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,897,250	5,000,000
Preferred stock, shares issued	0	3,102,480
Preferred stock, shares outstanding	0	3,102,480

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Operating costs and expenses
Research and development	$ 2,025,120	$ 785,274
Research and development - licenses acquired	95,000	230,693
Compensation and related expenses (including stock-based compensation)	2,932,933	509,667
Professional fees (including stock-based compensation)	2,091,745	682,929
Rent	31,622	28,252
Other expenses	538,577	258,710
Total operating expenses	7,714,997	2,495,525
Loss from operations	(7,714,997)	(2,495,525)
Other income (expenses)
Other income, net	10,636
Loss on foreign currency exchange	(275)
Total other income	10,361
Net loss	$ (7,704,636)	$ (2,495,525)
Weighted average number of common shares outstanding, basic and diluted	9,164,577	5,031,062
Net loss per share, basic and diluted	$ (0.84)	$ (0.50)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Convertible Preferred Stock	Common Stock [Member]	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2017	$ 173	$ 470	$ 3,199,304	$ (2,015,481)	$ 1,184,466
Balance, shares at Dec. 31, 2017	1,725,980	4,706,277
Stock-based compensation		$ 15	143,038		143,053
Stock-based compensation, shares		145,970
Stock issued for research and development		$ 4	35,996		36,000
Stock issued for research and development, shares		37,500
Stock issued for acquired license		$ 21	132,143		132,164
Stock issued for acquired license, shares		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		(31,513)
Issuance of Series A Convertible Preferred Stock and warrants for cash in an offering (net of offering costs of $190,180)	$ 137		1,021,417		1,021,554
Issuance of Series A Convertible Preferred Stock and warrants for cash in an offering (net of offering costs of $190,180), shares	1,376,500
Warrant value related to Issuance of Series A Convertible Preferred Stock			164,766		164,766
Net loss				(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	3,102,480	5,071,400
Conversion of preferred stock to common stock upon completion of the IPO	$ (310)	$ 310
Conversion of Preferred stock to common stock upon completion of the IPO, shares	(3,102,480)	3,102,480
Issuance common stock in the IPO, net of offering cost (net of offering costs of $1,159,833)		$ 125	5,840,042		5,840,167
Issuance common stock in the IPO, net of offering cost (net of offering costs of $1,159,833), shares		1,250,000
Issuance common stock and warrants, net of offering cost (net of offering costs of $426,990)		$ 41	1,610,089		1,610,130
Issuance common stock and warrants, net of offering cost (net of offering costs of $426,990), shares		407,424
Cashless warrant exercise		$ 22	(22)
Cashless warrant exercise, shares		223,877
Warrant exercise		$ 2	161		163
Warrant exercise, shares		16,333
Stock-based compensation		$ 5	2,495,214		2,495,219
Stock-based compensation, shares		48,330
Net loss				(7,704,636)	(7,704,636)
Balance at Dec. 31, 2019		$ 1,012	$ 14,610,638	$ (12,215,642)	$ 2,396,008
Balance, shares at Dec. 31, 2019		10,119,844

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Net of offering costs		$ 190,180
Issuance common stock in the IPO net of offering cost	$ 1,159,833
Issuance common stock and warrants net of offering cost	$ 426,990

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net loss	$ (7,704,636)	$ (2,495,525)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	1,225	1,224
Research and development-acquired license, expensed	95,000	132,164
Stock issued for research and development		36,000
Stock-based compensation	2,495,219	143,053
Unrealized gain on marketable securities	(3,664)
Changes in assets and liabilities:
Prepaid expenses	(97,716)	(12,356)
Accrued salaries and benefits		(1,542)
Accounts payable	267,357	94,356
Net cash used in operating activities	(4,947,215)	(2,102,626)
Cash flows from investing activities
Purchase of marketable securities	(800,000)
Purchase of research and development licenses	(95,000)
Net cash used in investing activities	(895,000)
Cash flows from financing activities
Proceeds from issuance of Series A Convertible Preferred Stock and warrants for cash in an offering, net		1,186,320
Proceeds from issuance of common stock in the IPO, net of offering cost	5,840,167
Proceeds from issuance common stock and warrants, net of offering cost	1,610,130
Proceeds from exercise of warrants	163
Payment of employee withholdings for vested restricted stock		(31,513)
Net cash provided by financing activities	7,450,460	1,154,807
Net increase (decrease) in cash	1,608,245	(947,819)
Cash and restricted cash, beginning of year	282,621	1,230,440
Cash and restricted cash, end of year	1,890,866	282,621
Non-cash investing and financing activities
Conversion of preferred stock to common stock upon completion of the IPO	310
Common stock issued for acquired license		132,164
Cashless warrant exercise	22
Offering cost included in accrued expenses	$ 30,484	$ 206,671

Organization and Description of

Organization and Description of Business Operations	12 Months Ended
	Dec. 31, 2019
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. (together with its wholly-owned subsidiary, Hoth Therapeutics Australia Pty Ltd., 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 (as defined herein), 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. During the year ended December 31, 2019, the Company also entered into agreements with the George Washington University, the University of Maryland Baltimore and Isoprene Pharmaceuticals, Inc., North Carolina State University and Zylö Therapeutics, Inc.. These agreements are further described in Note 3 of these financial statements. 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 5). Accordingly, all share and per share amounts for all periods presented in the accompanying consolidated 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. Initial Public Offering 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 did not exercise any portion of the Green-shoe. Therefore, the Company issued 1,250,000 shares of common stock and received net proceeds of $5.8 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 & Co. (UK) Ltd. ("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 $0.2 million. 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. Liquidity and capital resources Accounting Standards Update, or ("ASU"), No. 2014-15, Presentation of Financial Statements - Going Concern, requires management to evaluate the Company's ability to continue as a going concern one year beyond the filing date of the given financial statements. This evaluation requires management to perform two steps. First, management must evaluate whether there are conditions and events that raise substantial doubt about the entity's ability to continue as a going concern. Second, if management concludes that substantial doubt is raised, management is required to consider whether it has plans in place to alleviate that doubt. Disclosures in the notes to the consolidated financial statements are required if management concludes that substantial doubt exists or that its plans alleviate the substantial doubt that was raised. The Company's ultimate success is dependent on its ability to obtain additional financing and generate sufficient cash flow to meet its obligations on a timely basis. The Company's business will require significant amounts of capital to sustain operations and the Company will need to make the investments it needs to execute its longer-term business plan to support new technologies and help advance innovation. Absent generation of sufficient revenue from the execution of the Company's long-term business plan, the Company will need to obtain debt or equity financing, especially if the Company experiences downturns in its business that are more severe or longer than anticipated, or if the Company experiences significant increases in expense levels resulting from being a publicly-traded company or operations. Such additional debt or equity financing may not be available to the Company on favorable terms, if at all. The Company plans to pursue its plans regarding research and development which will require resources beyond those currently available, including third party capital. During this time, the Company does not expect to generate revenue as such there is substantial doubt about the Company's ability to continue as a going concern within one year from the date of this filing. The consolidated financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets, or the amounts and classification of liabilities that may result from the outcome of this uncertainty.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Significant accounting policies	Note 2—Significant accounting policies Basis of Presentation and Principles of Consolidation The Company's consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). The accompanying consolidated financial statements include the accounts of the Company's wholly-owned subsidiary, Hoth Therapeutics Australia Pty Ltd, which was incorporated under the laws of the State of Victoria in Australia on June 5, 2019. All intercompany balances and transactions have been eliminated. Use of estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting periods. The most significant estimates in the Company's consolidated 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 The Company operates in one operating segment and, accordingly, no segment disclosures have been presented herein. 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, 2019 and 2018. Restricted Cash In November 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash , Cash $ 1,690,866 Restricted cash 200,000 Total cash and restricted cash $ 1,890,866 The $0.2 million restricted cash has been deposited into a third-party escrow account in order to provide a source of funding for certain indemnification obligations the Company has pursuant to its Qualified Independent Underwriter Engagement Agreement. Marketable Securities Marketable securities are classified as trading and are carried at fair value. The Company's marketable securities consist of a mutual fund which is valued at a quoted market price. Concentrations of credit risk and off-balance sheet risk Cash is a financial instrument that is potentially subject to concentrations of credit risk. The Company's cash is 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 is 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 consolidated balance sheet. Upon the closing of the offerings, the deferred offering costs are offset against the offering proceeds. Approximately $30,000 and $200,000 of such offering costs were accrued but unpaid at December 31, 2019 and 2018, respectively. 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 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. The following table presents the Company's assets and liabilities that are measured at fair value at December 31, 2019: Fair value measured at December 31, 2019 Total at December 31, Quoted prices in active markets Significant other observable inputs Significant unobservable inputs 2019 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 803,664 $ 803,664 $ - $ - Convertible Preferred Stock The Company applies the accounting standards for distinguishing liabilities from equity when determining the classification and measurement of its convertible preferred stock. Convertible preferred stock subject to mandatory redemption are classified as liability instruments and are measured at fair value. Conditionally redeemable convertible preferred stock (including preferred stock 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, convertible preferred stock 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 Stock-based compensation The Company accounts for share-based payment awards exchanged for services at the estimated grant date fair value of the award. Stock options issued under the Company's long-term incentive plans are granted with an exercise price equal to no less than the market price of the Company's stock at the date of grant and expire up to ten years from the date of grant. These options generally vest over a one to five year period. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model and the assumptions used in calculating the fair value of stock-based awards represent management's best estimates and involve inherent uncertainties and the application of management's judgment. Expected Term Expected Volatility Risk-Free Interest Rate Expected Dividend Effective January 1, 2017, the Company elected to account for forfeited awards as they occur, as permitted by Accounting Standards Update ("ASU") 2016-09. Ultimately, the actual expenses recognized over the vesting period will be for those shares that vested. Prior to making this election, the Company estimated a forfeiture rate for awards at 0%, as the Company did not have a significant history of forfeitures. 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: As of December 31, Potentially dilutive securities 2019 2018 Series A Convertible Preferred Stock (Common Stock Equivalent) - 3,102,480 Warrants 1,032,692 991,367 Options 525,000 - Non-vested restricted stock units 13,200 21,530 Total 1,570,892 4,115,377 Recent accounting pronouncements In February 2016, the FASB issued 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. On January 1, 2019, the Company adopted ASU No. 2016-02, and the adoption did not have a material impact on its consolidated financial statements and related disclosures due to the short-term nature of its operating leases. 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 FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820), - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

License Agreements

License Agreements	12 Months Ended
	Dec. 31, 2019
License Agreement [Abstract]
License agreements	Note 3—License agreements The following summarizes the Company's research and development expenses for licenses acquired during the years ended December 31, 2019 and 2018: For the Years Ended 2019 2018 Chelexa BioSciences, Inc. $ - $ 132,164 The George Washington University 2,500 - University of Maryland and Isoprene Pharmaceuticals, Inc. 10,000 - North Carolina State University 25,000 - University of Cincinnati 7,500 7,500 Zylö Therapeutics Inc. 50,000 - Other - 91,029 $ 95,000 $ 230,693 Chelexa BioSciences, Inc. 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. The term of such agreement will expire on the later of April 16, 2034 and the last to expire patent in the patent rights granted to the Company (the "Term"). The Company shall, in its sole discretion, have 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. During the year ended December 31, 2018, the Company recorded an expense of approximately $0.1 million related to the issuance of 213,166 shares of its common stock pursuant to the sublicense agreement with Chelexa. There were no expenses incurred for the year ended December 31, 2019. The George Washington University Effective as of June 1, 2019, the Company and The George Washington University ("GWU") entered into a sponsored research agreement (the "Sponsored Research Agreement"), as amended on July 29, 2019, with respect to the exploration of the potential use of Aprepitant for topical and/or systemic therapy to counter the dermatological related side-effects of Erlotinib therapy in cancer patients. Pursuant to the terms of the Sponsored Research Agreement, GWU granted the Company a non-exclusive, license to certain of GWU's intellectual property. The Company has agreed to pay GWU for all costs incurred in connection with the research; provided, however, such costs shall not exceed approximately $0.3 million. The Sponsored Research Agreement shall terminate on June 30, 2020 unless extended by the parties. The Sponsored Research Agreement may be terminated by either party upon 30 days written notice. On June 28, 2019 (the "Effective Date"), the Company and GWU entered into a research option agreement (the "Research Option Agreement") pursuant to which GWU granted the Company an option (the "Option") until April 30, 2020 to acquire an exclusive license to certain products made or used by the Company (the "GWU Licensed Product") that involve certain patents owned by GWU (the "Licensed Patents"). On February 1, 2020, the Company exercised the Option and entered into a patent license agreement with GWU. On the Effective Date, the Company paid GWU $2,500, and on February 27, 2020, the Company paid GWU $10,000 as a license initiation fee. Until the first commercial sale of the GWU Licensed Product, the Company shall pay (i) $75,000 per year for the development and commercialization of the GWU Licensed Product, (ii) $2,000 for license maintenance fees on the first anniversary of the Effective Date and (iii) $5,000 for license maintenance fees commencing on the second anniversary of the Effective Date and thereafter. Furthermore, the Company shall be required to pay GWU a sublicense fee equal to a certain percentage of the sum of payments plus the fair market value of all other consideration of any kind received by the Company from sublicensees during each quarter as follows: a 40% sublicense fee until the first anniversary of the Effective Date, a 30% sublicense fee until the third anniversary of the Effective Date and a 20% sublicense fee after the third anniversary of the Effective Date; provided, however, such sublicense fee shall exclude certain fees paid to the Company such as certain royalties, equity investments, loan proceeds and sponsored research funding. Subject to the execution of a definitive license agreement with GWU, the Company shall also pay GWU milestone payments of up to an aggregate of $90,000 and sales based royalties at a low single digit percentage, subject to certain minimum royalty requirements. In addition, during each Option Exercise Period and Renewal Period (as defined in the Research Option Agreement) the Company shall pay GWU, on a quarterly basis, for all costs and expenses related to the GWU Licensed Patents (the "Patent Costs"). In July 2019, after the signing of the Research Option Agreement, the Company recorded an expense of $2,500 for the option fee. University of Maryland and Isoprene Pharmaceuticals, Inc. On March 8, 2019, the Company entered into a commercial evaluation sublicense and option agreement with the University of Maryland, Baltimore ("UMD") and Isoprene Pharmaceuticals, Inc. ("Isoprene"). Pursuant to the agreement, the Company paid an initial option and material access fee of $5,000 to UMD and $5,000 to Isoprene. In the event that Isoprene enters into a master license agreement with UMD (the "MLA"), UMD shall permit Isoprene to grant an exclusive option to the Company to negotiate and obtain an exclusive sublicensable, worldwide royalty-bearing license to the subject technology (the "Isoprene-Hoth Option"); provided, however, in the event Isoprene does not enter into the MLA, UMD may grant the Company an option to negotiate and obtain an exclusive sublicensable, worldwide royalty-bearing license to the subject technology (the "UMD-Hoth Option"). If the Company exercises the Isoprene-Hoth Option, it shall pay Isoprene an option exercise fee of $20,000. If the Company exercises the UMD-Hoth Option, it shall pay UMD an option exercise fee of $20,000. In March 2019, the Company recorded an expense of an aggregate of $10,000 for the initial option and materials access fee. North Carolina State University On November 20, 2019 (the "NCSU Effective Date"), the Company entered into a license agreement with North Carolina State University ("NCSU") pursuant to which NCSU granted the Company an exclusive license to, among other things, develop, make, use, offer and sell certain licensed products throughout the world with respect to NCSU's exon skipping approach for treating allergic diseases. The term of the license agreement shall commence on the NCSU Effective Date and shall continue until the date of the expiration of the last to expire patent right granted pursuant to the license agreement unless terminated earlier pursuant to the terms of the agreement. Pursuant to the terms of the license agreement, the Company paid NCSU a one-time license fee $25,000 and is also required to pay (i) sales based royalties at a low single digit percentage, (ii) minimum royalties ranging from $0 to $50,000 and (iii) milestone payments of up to $585,000. In December 2019, the Company recorded an expense of $25,000 for the license fee. University of Cincinnati On May 18, 2018, the Company entered into an exclusive license agreement with the University of Cincinnati for a patented, novel genetic marker for food allergies. The genetic marker licensed by the Company from the University of Cincinnati may be used to (i) identify at risk infants in predicting food allergies, including peanut and milk allergies, (ii) identify a person's predisposition to an allergic reaction, thereby avoiding such reaction and (iii) determine an individual's propensity to develop atopic dermatitis, such as eczema. The Company intends to utilize the genetic marker for purposes of determining an individual's propensity to develop eczema as well as to identify and treat allergies in at-risk infants. Pursuant to the terms of the exclusive license agreement, the Company agreed to pay the University of Cincinnati a one-time initial fee of $5,000 within 30 days of the date of the exclusive license agreement in addition to an annual license fee of $5,000 initially due and payable within 30 days of the one year anniversary of the exclusive license agreement and every year thereafter. In addition, the Company agreed to pay the University of Cincinnati a yearly annual license maintenance fee of $2,500 and a yearly minimum annual royalty of $5,000 and milestone payments of up to $120,000. The exclusive license agreement will continue until the later of (i) the date upon which a valid claim pursuant to the terms of the exclusive license agreement expires or (ii) 10 years after the first commercial sale or unless earlier terminated pursuant to the terms of the exclusive license agreement. In August 2018 and July 2019, respectively, the Company recorded an expense of $2,500 for annual license maintenance fee and $5,000 for yearly minimum annual royalty fee, respectively. Zylö Therapeutics Inc. On August 19, 2019 (the "Zylö Effective Date"), the Company entered into an exclusive sublicense agreement (the "Sublicense Agreement") with Zylö Therapeutics, Inc. ("Zylö") pursuant to which Zylö granted to the Company an exclusive sublicense to the Licensed Patent Rights (as defined in the Sublicense Agreement) and the Licensed Technology (as defined in the Sublicense Agreement) to, among other things, develop, make and sell the Licensed Products (as defined in the Sublicense Agreement) and to practice the Licensed Technology in the United States and Canada for any and all uses within the Field. "Field" means all therapeutic uses related to lupus in human beings, subject to the Field Expansion Rights (as defined in the Sublicense Agreement). The term of the Sublicense Agreement shall commence on the Zylö Effective Date and shall continue until the latest of (i) ten years from the date of First Commercial Sale (as defined in the Sublicense Agreement) of the Licensed Product in such country and (ii) expiration of the last to expire Valid Claim (as defined in the Sublicense Agreement) of the Licensed Patent Rights that would be infringed by the composition, use or sale of such Licensed Product in such country. Pursuant to the terms of the Sublicense Agreement, the Company and Zylö shall establish a joint development committee to plan, review, coordinate and oversee the Company's development activities with respect to the Licensed Products in the Field. Pursuant to the Sublicense Agreement, the Company paid Zylö (i) an upfront license fee of $50,000; (ii) sales-based royalties at percentages which range from high single digits to low double digits, with low sales volumes being subject to lower royalty rates; and total milestone payments of up to $13.5 million. In addition, within 45 days of the Company's next equity financing pursuant to which the Company receives gross proceeds of at least $1 million, the Company shall purchase equity securities of Zylö in an amount equal to $60,000. In May 2019 and September 2019, the Company recorded an expense of $10,000 and $40,000, respectively, for upfront license fee.

Related Party

Related Party	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related party	Note 4—Related Party A director of the Company, is also the Executive Chairman of Chelexa. During the year ended December 31, 2019, that director received $30,000 in cash compensation for services provided as a board member of the Company and $5,000 cash compensation for his services as a member of the Company's Scientific Advisory Board. The Company also granted him options to purchase up to 35,000 of the Company's common stock pursuant to the Company's 2018 Equity Incentive Plan. During the year ended December 31, 2018, that director received $30,000 in cash compensation for services provided as a board member of the Company and $10,000 cash compensation for his services as a member of the Company's Scientific Advisory Board. He also received a stock grant for 12,500 shares of common stock for his services as a member of the Company's Scientific Advisory Board. A director of the Company, is also the Chief Executive Officer, Principal Accounting and Financial Officer and a member of the baord of directors of Spherix Incorporated. During the year ended December 31, 2019, that director received $30,000 in cash compensation for services provided as a board member of the Company. The Company also granted such director options to purchase up to 35,000 shares of the Company's common stock pursuant to the Company's 2018 Equity Incentive Plan. During the year ended December 31, 2018, that director received $42,000 in cash compensation and the Company issued such director 12,500 shares of common stock for services rendered as a member of the Company's board of directors.

Investments in Marketable Secur

Investments in Marketable Securities	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Investments in Marketable Securities	Note 5. Investments in Marketable Securities The realized gain or loss, unrealized gain or loss, and dividend income related to marketable securities for the year ended December 31, 2019 and 2018, which are recorded as a component of other income (expenses) on the consolidated statements of operations, are as follows: For the Years Ended December 31, 2019 2018 Unrealized gain (loss) $ 3,664 $ - Dividend income 6,947 - Interest income 25 - $ 10,636 $ -

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Stockholders' Equity	Note 6—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 the Company's board of directors without further action by the Company's shareholders. As of December 31, 2019, 5,000,000 shares of the Company's preferred stock has been designated as Series A Convertible Preferred Stock of which 3,102,480 shares which were previously issued were converted into common stock at the time of the Company's initial public offering. 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. The shares of Series A Convertible Preferred Stock are not mandatorily redeemable and does not embody an unconditional obligation to settle in a variable number of equity shares. As such, the shares of Series A Convertible Preferred Stock 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 shares of Series A Convertible Preferred Stock 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 convertible preferred stock host instrument and therefore was not bifurcated from the equity host. The Company had 1,897,520 and 5,000,000 shares of Series A Convertible Preferred Stock authorized as of December 31, 2019 and 2018, respectively, 0 and 3,102,480 shares outstanding as of December 31, 2019 and 2018, respectively. Common Shares On February 15, 2019, the Company announced the pricing of its initial public offering of 1,250,000 shares of its common stock at an initial offering price to the public of $5.60 per share. The Company issued an aggregate of 1,250,000 shares of common stock and received net proceeds of $5.8 million from the IPO. Private Placement of Securities On August 16, 2019 (the "Closing Date"), the Company entered into subscription agreements (the "Subscription Agreements") and unit purchase agreements (the "Purchase Agreements") with certain accredited investors (the "Investors") pursuant to which it sold units (the "Units") for aggregate gross proceeds of $2,037,120, exclusive of placement agent commission and fees and offering and transaction expenses (the "Offering"). Each Unit was sold at an offering price of $5.00 per Unit and consisted of (i) one share of the Company's common stock and (ii) a warrant (the "Warrant") to purchase one-half share of common stock. Each Warrant is exercisable for a period of two years beginning six months from the Closing Date at an exercise price of $8.00 per whole share, subject to adjustment. The Company is prohibited from effecting an exercise of the Warrant to the extent that, as a result of such exercise, the holder together with the holder's affiliates, would beneficially own more than 4.99% of the number of shares of common stock outstanding immediately after giving effect to the issuance of shares of common stock upon exercise of the Warrant, which beneficial ownership limitation may be increased by the holder up to, but not exceeding, 9.99%. In addition, pursuant to the terms of the Offering, the Company issued Laidlaw warrants (the "Placement Agent Warrants") to purchase up to 61,113 shares of the Company's common stock. The Placement Agent Warrants are exercisable for a period of five years from the Closing Date (the "Initial Exercise Date") at an exercise price of $5.00 per share, subject to adjustment. The Warrants may be exercised at any time after the Initial Exercise Date on a cashless basis and contain piggy-back registration rights. Pursuant to the Offering, the Company received $1.6 million in net proceeds from the issuance of 407,424 Units. The Company has determined that the 2019 warrants should be accounted as a component of stockholders' equity. For the warrants issued on August 16, 2019, the Company estimated the relative fair value of the warrants at $0.8 million using the Black-Scholes option pricing model using the following primary assumptions: fair value of common stock underlying the warrants ranges from $2.55 to $4.33, expected life ranges from 2.0 to 5.0 years, volatility rate ranges from 107.30% to 110.08%, risk-free interest rate ranges from 1.42% to 1.48% and expected dividend rate of 0%. 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. For the warrants issued during the year ended December 31, 2018, the Company has determined that the warrants should be accounted as a component of stockholders' equity. 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 Series A Preferred Stock, 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. 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. 2018 Activity In January 2018, the Company granted an employee 25,000 shares of common stock with a $15,000 fair value. 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. 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. 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 the 31,513 shares such shares were immediately cancelled. 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 December 31, 2019, the Company issued 10,000 and 30,000 shares of restricted common stock with a total fair value of approximately $0.2 million to The Benchmark Company, LLC and FON Consulting, LLC, respectively, consultants to the Company. On January 7, 2020, the Company entered into a termination and general release agreement with FON Consulting, LLC pursuant to which 15,000 shares of restricted common stock originally granted to FON Consulting, LLC were cancelled. During the year ended December 31, 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, 2019 and 2018 is as follows: Number of Units Weighted Average Grant Day Fair Value Nonvested at December 31, 2017 - - Granted 37,500 $ 0.25 Vested (15,970 ) 0.25 Nonvested at December 31, 2018 21,530 $ 0.25 Granted 40,000 5.11 Vested (48,330 ) 4.28 Nonvested at December 31, 2019 13,200 $ 0.25 As of December 31, 2019, approximately $4,000 of unrecognized stock-based compensation expense related to restricted stock awards. The weighted average remaining contractual terms of unvested restricted stock awards is approximately 0.8 years at December 31, 2019. Stock Options On March 6, 2019, the Company granted options to purchase up to 50,000 shares of the Company's common stock to its CFO pursuant to the 2018 Plan. The aggregate grant date fair value of these options was approximately $0.2 million. The stock options vested in full upon grant. On December 24, 2019, the Company granted a total of options to purchase up to an aggregate of 475,000 shares of the Company's common stock to directors and advisors pursuant to the 2018 Plan. The aggregate grant date fair value of these options was approximately $2.0 million. The stock options vested in full upon grant. The fair value of options granted in 2019 and 2018 was estimated using the following assumptions: For the Years Ended 2019 2018 Exercise price $ 5.26-$5.88 - Term (years) 4.18-9.98 - Expected stock price volatility 111.2%-112.1 % - Risk-free rate of interest 1.75%-2.52 % - A summary of option activity under the Company's stock option plan for year ended December 31, 2019 and 2018 is presented below: Number of Shares Weighted Average Exercise Price Total Intrinsic Value Weighted Average Remaining Contractual Life (in years) Outstanding as of December 31, 2018 - $ - $ - - Employee options issued 525,000 5.32 457,250 9.4 Outstanding as of December 31, 2019 525,000 $ 5.32 $ 457,250 9.4 Options vested and exercisable 525,000 $ 5.32 $ 457,250 9.4 Stock Based Compensation Stock-based compensation expense for the years ended December 31, 2019 and 2018 was approximately $2.5 million and $0.1 million, respectively, and comprised of the following: For the Years Ended 2019 2018 Employee common stock awards $ - $ 107,500 Directors common stock awards - 25,000 Employee stock option awards 2,195,812 - Employee restricted stock awards 10,252 10,553 Non-employee restricted stock awards 204,550 - Non-employee warrant awards 84,605 - $ 2,495,219 $ 143,053 Employee and director related stock-based compensation was included in compensation and related expenses, and non-employee related stock-based compensation was included in professional fees on the consolidated statements of operations. In addition, the Company recorded $0 and $36,000 of stock issued for research and development services for the year ended December 31, 2019 and 2018, respectively. Warrants A summary of warrant activity for the years ended December 31, 2019 and 2018 is presented below: Number of Warrants Weighted Average Exercise Price Total Intrinsic Value Weighted Average Remaining Contractual Life (in years) Outstanding as of December 31, 2017 647,242 $ 1.00 $ - 4.2 Issued 344,125 1.00 - 6.1 Outstanding as of December 31, 2018 991,367 $ 1.00 $ - 5.9 Issued 331,155 6.90 100,938 4.1 Exercised (289,830 ) 0.94 - - Outstanding as of December 31, 2019 1,032,692 $ 2.91 $ 3,725,745 4.2 Warrants exercisable as of December 31, 2019 1,032,692 $ 2.91 $ 3,725,745 4.2 2019 Activity On February 20, 2019, Laidlaw received five-year warrants to purchase 50,000 shares of the Company's common stock at an exercise price of $7.00 per share. These warrants were not exercisable prior to August 13, 2019. On April 17, 2019, the Company entered into a Master Service Agreement (the "MSA") with a consultant (the "Consultant"). In consideration for services provided by the Consultant, the Company issued the Consultant a two year warrant to purchase up to 50,000 shares of the Company's common stock at an exercise price of $0.01 per share (the "Consultant Warrant"). On May 22, 2019, the Company and Consultant agreed to terminate the MSA and number of shares of the Company's common stock issuable upon exercise of the Consultant Warrant was reduced to 16,333. On June 27, 2019, the Company issued 16,333 shares of common stock upon exercise of the Consultant Warrant which resulted in gross proceeds of approximately $163. On April 16, 2019, the Company issued 176,272 shares of common stock upon the cashless exercise of warrants to purchase up to 215,747 shares of common stock. Those warrants were issued by the Company to Laidlaw pursuant to the terms of its engagement letter with Laidlaw with respect to the private placement of its securities from October 2017 through December 2017. On June 6, 2019, the Company issued 47,605 shares of common stock upon the cashless exercise of warrants to purchase up to 57,750 shares of common stock. On August 16, 2019, in connection with the Offering, the Company issued Warrants to purchase up to 203,709 shares of the Company's common stock at an exercise price of $8.00 per whole share. In addition, pursuant to the terms of the Offering, the Company issued Laidlaw the Placement Agent Warrants to purchase up to 61,113 shares of the Company's common stock. The Placement Agent Warrants are exercisable for a period of five years from the Closing Date at an exercise price of $5.00 per share. 2018 Activity During the year ended December 31, 2018, the Company issued seven-year warrants to purchase 344,125 shares of the Company's common stock at an exercise price of $1.00 per share to investors. The Company has determined that the warrants should be accounted as a component of stockholders' equity.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 7—Commitments and contingencies Office lease Rent expense for the years ended December 31, 2019 and 2018 was approximately $32,000 and $28,000, respectively. The Company is not a party to a lease that is in excess of 12 months. 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, 2019
Income Tax Disclosure [Abstract]
Income taxes	Note 8—Income taxes The table below presents the components of the provision for taxes: As of December 31, 2019 2018 Current US Federal $ - $ - US State - - Total current provision - - Deferred US Federal 1,692,939 414,952 US State - 2,825 Total deferred benefit 1,692,939 417,777 Change in valuation allowance (1,692,939 ) (417,777 ) Total provision for income taxes $ - $ - At December 31, 2019 and 2018, the tax effects of the temporary differences and carryforwards that give rise to deferred tax assets consist of the following: As of December 31, 2019 2018 Deferred tax assets: Net operating loss carryforward $ 1,975,501 $ 701,785 License acquired 133,182 144,265 Stock Compensation 427,558 - Total deferred income tax assets 2,536,241 846,050 Deferred income tax assets liabilities: Prepaids - (2,613 ) Depreciation fixed assets (132 ) (267 ) Total deferred income tax liabilities (132 ) (2,880 ) Net deferred income tax assets 2,536,109 843,170 Valuation allowance (2,536,109 ) (843,170 ) Deferred tax asset, net of allowance $ - $ - A reconciliation of the statutory income tax rates and the Company's effective tax rate for the year ended December 31, 2019 and 2018 is as follows: For the Years ended 2019 2018 Statutory federal income tax rate (21.0 )% (21.0 )% State taxes, net of federal tax benefit 0.0 % (0.1 )% Return to Provision (1.3 )% - % Other 0.4 % - % Change in valuation allowance 22.0 % 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, 2019, the Company has net operating loss carryforwards of approximately $9.4 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 and 2019 of approximately $7.9 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, 2019 and 2018, 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, 2019 and 2018, 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, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 9—Subsequent Events The Company evaluates events that have occurred after the balance sheet date but before the consolidated financial statements are issued. Pursuant to the Patent License Agreement between the Company and GWU, on February 1, 2020, the Company issued GWU warrants to purchase up to 22,988 shares of the Company's common stock at an exercise price of $4.35 per share. The warrants vest as follows: 20% upon the date of issuance and the balance, or 80% of the warrants shall vest in four equal annual installments of 20% on each anniversary of the initial issuance date. On February 5, 2020, the Company issued 12,500 shares of common stock upon exercise of the warrants originally granted to an investor on January 19, 2018, which resulted in gross proceeds of $12,500. From January 1, 2020 until February 29, 2020, the Company issued an aggregate of 1,388 shares of the Company's common stock to a member of the Company's Board for services rendered. Effective as of February 28, 2020, Vadim Mats resigned as a member of the Company's Audit Committee. Effective as of February 28, 2020, the Board appointed Graig Springer as a member of the Company's Board. In addition, effective as of February 28, 2020, the Board appointed Graig Springer as a member of the Company's Audit Committee to fill the vacancy created by the resignation of Vadim Mats.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The Company's consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). The accompanying consolidated financial statements include the accounts of the Company's wholly-owned subsidiary, Hoth Therapeutics Australia Pty Ltd, which was incorporated under the laws of the State of Victoria in Australia on June 5, 2019. All intercompany balances and transactions have been eliminated.
Use of estimates	Use of estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting periods. The most significant estimates in the Company's consolidated 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 The Company operates in one operating segment and, accordingly, no segment disclosures have been presented herein.
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, 2019 and 2018.
Restricted Cash	Restricted Cash In November 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash , Cash $ 1,657,886 Restricted cash 200,000 Total cash and restricted cash $ 1,857,886 The $0.2 million restricted cash has been deposited into a third-party escrow account in order to provide a source of funding for certain indemnification obligations the Company has pursuant to its Qualified Independent Underwriter Engagement Agreement.
Marketable Securities	Marketable Securities Marketable securities are classified as trading and are carried at fair value. The Company's marketable securities consist of a corporate bond which is valued at a quoted market price. The realized gain or loss, unrealized gain or loss, and dividend income related to marketable securities are recorded as a component of other (expenses) income on the consolidated statements of operations.
Concentrations of credit risk and off-balance sheet risk	Concentrations of credit risk and off-balance sheet risk Cash is a financial instrument that is potentially subject to concentrations of credit risk. The Company's cash is 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 is 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 consolidated balance sheet. Upon the closing of the offerings, the deferred offering costs are offset against the offering proceeds. Approximately $30,000 and $200,000 of such offering costs were accrued but unpaid at December 31, 2019 and 2018, respectively.
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 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. The following table presents the Company's assets and liabilities that are measured at fair value at December 31, 2019: Fair value measured at December 31, 2019 Total at December 31, Quoted prices in active markets Significant other observable inputs Significant unobservable inputs 2019 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 803,664 $ 803,664 $ - $ -
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 stock (including preferred stock 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 stock 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
Stock-based compensation	Stock-based compensation The Company accounts for share-based payment awards exchanged for services at the estimated grant date fair value of the award. Stock options issued under the Company's long-term incentive plans are granted with an exercise price equal to no less than the market price of the Company's stock at the date of grant and expire up to ten years from the date of grant. These options generally vest over a one to five year period. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model and the assumptions used in calculating the fair value of stock-based awards represent management's best estimates and involve inherent uncertainties and the application of management's judgment. Expected Term Expected Volatility Risk-Free Interest Rate Expected Dividend Effective January 1, 2017, the Company elected to account for forfeited awards as they occur, as permitted by Accounting Standards Update ("ASU") 2016-09. Ultimately, the actual expenses recognized over the vesting period will be for those shares that vested. Prior to making this election, the Company estimated a forfeiture rate for awards at 0%, as the Company did not have a significant history of forfeitures.
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: As of December 31, Potentially dilutive securities 2019 2018 Series A Convertible Preferred Stock (Common Stock Equivalent) - 3,102,480 Warrants 1,032,692 991,367 Options 525,000 - Non-vested restricted stock units 13,200 - Total 1,570,892 4,093,847
Recent accounting pronouncements	Recent accounting pronouncements In February 2016, the FASB issued 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. On January 1, 2019, the Company adopted ASU No. 2016-02, and the adoption did not have a material impact on its consolidated financial statements and related disclosures due to the short-term nature of its operating leases. 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 FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820), - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of consolidated statements of cash flows	Cash $ 1,657,886 Restricted cash 200,000 Total cash and restricted cash $ 1,857,886
Schedule of assets and liabilities that are measured at fair value	Fair value measured at December 31, 2019 Total at December 31, Quoted prices in active markets Significant other observable inputs Significant unobservable inputs 2019 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 803,664 $ 803,664 $ - $ -
Schedule of anti-dilutive impact on net loss	As of December 31, Potentially dilutive securities 2019 2018 Series A Convertible Preferred Stock (Common Stock Equivalent) - 3,102,480 Warrants 1,032,692 991,367 Options 525,000 - Non-vested restricted stock units 13,200 - Total 1,570,892 4,093,847

License Agreements (Tables)

License Agreements (Tables)	12 Months Ended
	Dec. 31, 2019
License Agreement [Abstract]
Schedule of research and development expenses for licenses acquired	For the Years Ended 2019 2018 Chelexa BioSciences, Inc. $ - $ 132,164 The George Washington University 2,500 - University of Maryland and Isoprene Pharmaceuticals, Inc. 10,000 - North Carolina State University 25,000 - University of Cincinnati 7,500 7,500 Zylö Therapeutics Inc. 50,000 - Other - 91,028 $ 95,000 $ 230,692

Investments in Marketable Sec_2

Investments in Marketable Securities (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Schedule of consolidated statements of operations	For the Years Ended December 31, 2019 2018 Unrealized gain (loss) $ 3,664 $ - Dividend income 6,947 - Interest income 25 - $ 10,636 $ -

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Schedule of restricted stock awards activities under the Company's 2018 Equity Incentive Plan	Number of Units Weighted Average Grant Day Fair Value Nonvested at December 31, 2017 - - Granted 37,500 $ 0.25 Vested (15,970 ) 0.25 Nonvested at December 31, 2018 21,530 $ 0.25 Granted 40,000 5.11 Vested (48,330 ) 4.28 Nonvested at December 31, 2019 13,200 $ 0.25
Schedule of fair value of options granted	For the Years Ended 2019 2018 Exercise price $ 5.26-$5.88 - Term (years) 4.18-9.98 - Expected stock price volatility 111.2%-112.1 % - Risk-free rate of interest 1.75%-2.52 % -
Schedule of stock option plan	Number of Shares Weighted Average Exercise Price Total Intrinsic Value Weighted Average Remaining Contractual Life (in years) Outstanding as of December 31, 2018 - $ - $ - - Employee options issued 525,000 5.32 457,250 9.4 Outstanding as of December 31, 2019 525,000 $ 5.32 $ 457,250 9.4 Options vested and exercisable 525,000 $ 5.32 $ 457,250 9.4
Schedule of stock-based compensation expense	For the Years Ended 2019 2018 Employee common stock awards $ - $ 107,500 Directors common stock awards - 25,000 Employee stock option awards 2,195,812 - Employee restricted stock awards 10,252 10,553 Non-employee restricted stock awards 204,550 - Non-employee warrant awards 84,605 - $ 2,495,219 $ 143,053
Schedule of warrant activity	Number of Warrants Weighted Average Exercise Price Total Intrinsic Value Weighted Average Remaining Contractual Life (in years) Outstanding as of December 31, 2017 647,242 $ 1.00 $ - 4.2 Issued 344,125 1.00 - 6.1 Outstanding as of December 31, 2018 991,367 $ 1.00 $ - 5.9 Issued 331,155 6.90 100,938 4.1 Exercised (289,830 ) 0.94 - - Outstanding as of December 31, 2019 1,032,692 $ 2.91 $ 3,725,745 4.2 Warrants exercisable as of December 31, 2019 1,032,692 $ 2.91 $ 3,725,745 4.2

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of components of the provision for taxes	As of December 31, 2019 2018 Current US Federal $ - $ - US State - - Total current provision - - Deferred US Federal 1,692,939 414,952 US State - 2,825 Total deferred benefit 1,692,939 417,777 Change in valuation allowance (1,692,939 ) (417,777 ) Total provision for income taxes $ - $ -
Schedule of deferred tax assets	As of December 31, 2019 2018 Deferred tax assets: Net operating loss carryforward $ 1,975,501 $ 701,785 License acquired 133,182 144,265 Stock Compensation 427,558 - Total deferred income tax assets 2,536,241 846,050 Deferred income tax assets liabilities: Prepaids - (2,613 ) Depreciation fixed assets (132 ) (267 ) Total deferred income tax liabilities (132 ) (2,880 ) Net deferred income tax assets 2,536,109 843,170 Valuation allowance (2,536,109 ) (843,170 ) Deferred tax asset, net of allowance $ - $ -
Schedule of statutory income tax rates	For the Years ended 2019 2018 Statutory federal income tax rate (21.0 )% (21.0 )% State taxes, net of federal tax benefit 0.0 % (0.1 )% Return to Provision (1.3 )% - % Other 0.4 % - % Change in valuation allowance 22.0 % 21.1 % Income taxes provision (benefit) - % - %

Organization and Description _2

Organization and Description of Business Operations (Details) - USD ($)	1 Months Ended		12 Months Ended
	Feb. 15, 2019	Feb. 14, 2019	Dec. 31, 2018	Dec. 31, 2019
Organization and Description of Business Operations (Textual)
Accumulated deficit			$ (4,511,006)	$ (12,215,642)
Reverse stock split of issued and outstanding shares of common stock			1-for-4
Initial Public Offering [Member]
Organization and Description of Business Operations (Textual)
Common stock issued for initial public offering price	1,250,000
Additional shares of common stock	187,500
Net proceeds from initial public offering	$ 5,800,000
Initial offering price per share	$ 5.60
Description of underwriting agreement		The Company entered into an underwriting agreement with Laidlaw & Co. (UK) Ltd. (“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 $0.2 million. 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_4

Significant Accounting Policies (Details)	Dec. 31, 2019USD ($)
Accounting Policies [Abstract]
Cash	$ 1,657,886
Restricted cash	200,000
Total cash and restricted cash	$ 1,857,886

Significant Accounting Polici_5

Significant Accounting Policies (Details 1) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Marketable securities	$ 803,664
Quoted prices in active markets (Level 1) [Member]
Marketable securities	803,664
Significant other observable inputs (Level 2) [Member]
Marketable securities
Significant unobservable inputs (Level 3)
Marketable securities

Significant Accounting Polici_6

Significant Accounting Policies (Details 2) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Potentially dilutive securities
Total	1,570,892	4,115,377
Series A Convertible Preferred Stock (Common Stock Equivalent) [Member]
Potentially dilutive securities
Total		3,102,480
Warrants [Member]
Potentially dilutive securities
Total	1,032,692	991,367
Options [Member]
Potentially dilutive securities
Total	525,000	21,530
Non-vested restricted stock units [Member]
Potentially dilutive securities
Total	13,200

Significant Accounting Polici_7

Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2019USD ($)Number	Dec. 31, 2018USD ($)
Significant Accounting Policies (Textual)
Escrow deposit	$ 200,000
Deferred offering costs	$ 30,484	$ 206,671
Number of operating segment | Number	1

License Agreements (Details)

License Agreements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Total	$ 2,025,120	$ 785,274
The George Washington University [Member]
Total	2,500
North Carolina State University [Member]
Total	25,000
University of Cincinnati [Member]
Total	7,500	7,500
Other [Member]
Total		91,028
Chelexa BioSciences, Inc. [Member]
Total		132,164
University of Maryland and Isoprene Pharmaceuticals, Inc. [Member]
Total	10,000
Zylö Therapeutics Inc. [Member]
Total	$ 50,000

License Agreements (Details Tex

License Agreements (Details Textual) - USD ($)

Feb. 01, 2020

Mar. 08, 2019

Nov. 20, 2019

Sep. 30, 2019

Aug. 19, 2019

Jul. 31, 2019

Jul. 29, 2019

May 31, 2019

Mar. 31, 2019

Aug. 31, 2018

Jul. 31, 2018

May 18, 2018

Dec. 31, 2019

Dec. 31, 2018

Commercial evaluation sublicense and option agreement description

The Company entered into a commercial evaluation sublicense and option agreement with the University of Maryland, Baltimore (“UMD”) and Isoprene Pharmaceuticals, Inc. (“Isoprene”). Pursuant to the agreement, the Company paid an initial option and material access fee of $5,000 to UMD and $5,000 to Isoprene.

Recorded expense value

$ 10,000

Issuance of shares

12,500

License Agreement [Member]

Initial fee

$ 5,000

Annual license fee

5,000

Minimum annual royalty

$ 5,000

Expires license term

10 years

Recorded expense value

$ 2,500

License maintenance fee

$ 5,000

$ 2,500

License Agreement [Member] | Maximum [Member]

Milestone payments

$ 120,000

George Washington University [Member]

Option exercise fee

$ 2,500

Sponsored research agreement, description

Pursuant to the terms of the Sponsored Research Agreement, GWU granted the Company a non-exclusive, license to certain of GWU's intellectual property. The Company has agreed to pay GWU for all costs incurred in connection with the research; provided, however, such costs shall not exceed approximately $0.3 million. The Sponsored Research Agreement shall terminate on June 30, 2020 unless extended by the parties. The Sponsored Research Agreement may be terminated by either party upon 30 days written notice.

George Washington University [Member] | Subsequent Event [Member]

License initiation fee

$ 10,000

Warrants term

10 years

Licensed product, description

(i) $75,000 per year for the development and commercialization of the GWU Licensed Product, (ii) $2,000 for license maintenance fees on the first anniversary of the Effective Date and (iii) $5,000 for license maintenance fees commencing on the second anniversary of the Effective Date and thereafter. Furthermore, the Company shall be required to pay GWU a sublicense fee equal to a certain percentage of the sum of payments plus the fair market value of all other consideration of any kind received by the Company from sublicensees during each quarter as follows: a 40% sublicense fee until the first anniversary of the Effective Date, a 30% sublicense fee until the third anniversary of the Effective Date and a 20% sublicense fee after the third anniversary of the Effective Date; provided, however, such sublicense fee shall exclude certain fees paid to the Company such as certain royalties, equity investments, loan proceeds and sponsored research funding. Subject to the execution of a definitive license agreement with GWU, the Company shall also pay GWU milestone payments of up to an aggregate of $90,000 and sales based royalties at a low single digit percentage, subject to certain minimum royalty requirements. In addition, during each Option Exercise Period and Renewal Period (as defined in the Research Option Agreement) the Company shall pay GWU, on a quarterly basis, for all costs and expenses related to the GWU Licensed Patents (the "Patent Costs").

George Washington University [Member] | Subsequent Event [Member] | Licensed Patents [Member]

Patents paid

$ 2,500

North Carolina State University [Member]

License initiation fee

$ 25,000

Recorded expense value

$ 25,000

North Carolina State University [Member] | Maximum [Member]

Milestone payments

585,000

Minimum annual royalty

50,000

North Carolina State University [Member] | Minimum [Member]

Minimum annual royalty

$ 0

Chelexa BioSciences, Inc. [Member]

Milestone payments

3,500,000

Recorded expense value

$ 100,000

Issuance of shares

213,166

Isoprene-Hoth Option [Member]

Option exercise fee

20,000

UMD-Hoth Option [Member]

Option exercise fee

$ 20,000

Zylö Therapeutics Inc. [Member]

Sublicense Agreement, description

(i) an upfront license fee of $50,000; (ii) sales-based royalties at percentages which range from high single digits to low double digits, with low sales volumes being subject to lower royalty rates; and total milestone payments of up to $13.5 million. In addition, within 45 days of the Company’s next equity financing pursuant to which the Company receives gross proceeds of at least $1 million, the Company shall purchase equity securities of Zylö in an amount equal to $60,000.

Recorded expense value

$ 40,000

$ 10,000

Related Party (Details)

Related Party (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Related Party (Textual)
Received in cash compensation	$ 30,000	$ 42,000
Purchase of shares	35,000
Issued of shares		12,500
Chelexa [Member]
Related Party (Textual)
Service provided, description	That director received $30,000 in cash compensation for services provided as a board member of the Company and $5,000 cash compensation for his services as a member of the Company’s Scientific Advisory Board. The Company also granted him options to purchase up to 35,000 of the Company’s common stock pursuant to the Company’s 2018 Equity Incentive Plan.	That director received $30,000 in cash compensation for services provided as a board member of the Company and $10,000 cash compensation for his services as a member of the Company's Scientific Advisory Board. He also received a stock grant for 12,500 shares of common stock for his services as a member of the Company's Scientific Advisory Board.
Issued of shares		213,166

Investments in Marketable Sec_3

Investments in Marketable Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Unrealized gain on marketable securities	$ (3,664)
Dividend income	6,947
Interest income	25
Other income, net	$ 10,636

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Restricted Stock Awards [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Number of Units
Number of Units, Nonvested Beginning Balance	21,530
Number of Units, Granted	40,000	37,500
Number of Units, Vested	(48,330)	(15,970)
Number of Units, Nonvested Ending Balance	13,200	21,530
Weighted Average Grant Day Fair Value
Weighted Average Grant Day Fair Value, Nonvested Beginning balance	$ 0.25
Weighted Average Grant Day Fair Value, Granted	5.11	0.25
Weighted Average Grant Day Fair Value, Vested	4.28	0.25
Weighted Average Grant Day Fair Value, Nonvested Ending balance	$ 0.25	$ 0.25

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Exercise price
Term (years)
Expected stock price volatility
Risk-free rate of interest
Minimum [Member]
Exercise price	$ 5.26
Term (years)	4 years 2 months 5 days
Expected stock price volatility	111.20%
Risk-free rate of interest	1.75%
Maximum [Member]
Exercise price	$ 5.88
Term (years)	9 years 11 months 23 days
Expected stock price volatility	112.10%
Risk-free rate of interest	2.52%

Stockholders_ Equity (Details 2

Stockholders’ Equity (Details 2) - Warrants [Member]	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
Number of Shares
Outstanding | shares
Employee options Issued | shares	525,000
Outstanding | shares	525,000
Options vested and exercisable | shares	525,000
Weighted Average Exercise Price
Outstanding | $ / shares
Employee options Issued | $ / shares	5.32
Outstanding | $ / shares	5.32
Options vested and exercisable | $ / shares	$ 5.32
Total Intrinsic Value
Outstanding | $
Employee options Issued | $	457,250
Outstanding | $	457,250
Options vested and exercisable | $	$ 457,250
Weighted Average Remaining Contractual Life (in years)
Employee options Issued	9 years 4 months 24 days
Outstanding	9 years 4 months 24 days
Options vested and exercisable	9 years 4 months 24 days

Stockholders' Equity (Details 3

Stockholders' Equity (Details 3) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Stock-based compensation	$ 2,495,219	$ 143,053
Restricted Stock Awards [Member] | Employee common stock awards [Member]
Stock-based compensation		107,500
Restricted Stock Awards [Member] | Directors common stock awards [Member]
Stock-based compensation		25,000
Restricted Stock Awards [Member] | Employee stock option awards [Member]
Stock-based compensation	2,195,812
Restricted Stock Awards [Member] | Employee restricted stock awards [Member]
Stock-based compensation	10,252	10,553
Restricted Stock Awards [Member] | Non-employee restricted stock awards [Member]
Stock-based compensation	204,550
Restricted Stock Awards [Member] | Non-employee warrant awards [Member]
Stock-based compensation	$ 84,605

Stockholders_ Equity (Details 4

Stockholders’ Equity (Details 4) - Warrants [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Number of Warrants
Outstanding	991,367	647,242
Issued	331,155	344,125
Exercised	(289,830)
Outstanding	1,032,692	991,367
Warrants exercisable	1,032,692
Weighted Average Exercise Price
Outstanding	$ 1	$ 1
Issued	6.90	1
Exercised	0.94
Outstanding	2.91	$ 1
Warrants exercisable	$ 2.91
Total Intrinsic Value
Outstanding
Issued	100,938
Exercised
Outstanding	3,725,745
Warrants exercisable	$ 3,725,745
Weighted Average Remaining Contractual Life (in years)
Outstanding	5 years 10 months 25 days	4 years 2 months 12 days
Issued	4 years 1 month 6 days	6 years 1 month 6 days
Outstanding	4 years 2 months 12 days	5 years 10 months 25 days
Warrants exercisable	4 years 2 months 12 days

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual)

Jun. 06, 2019

Apr. 17, 2019$ / sharesshares

Apr. 16, 2019

Mar. 06, 2019USD ($)shares

Feb. 20, 2019$ / sharesshares

Feb. 15, 2019USD ($)$ / sharesshares

Aug. 15, 2018USD ($)shares

Dec. 24, 2019USD ($)shares

Aug. 16, 2019USD ($)$ / sharesshares

Jun. 27, 2019USD ($)shares

May 22, 2019shares

May 04, 2018USD ($)shares

Mar. 23, 2018USD ($)shares

Jan. 31, 2018USD ($)shares

Dec. 31, 2019USD ($)$ / sharesshares

Dec. 31, 2018USD ($)$ / sharesshares

Stockholders' Equity (Textual)

Aggregate grant fair value | $

$ 200,000

Warrants to purchase of common stock shares

50,000

50,000

Warrants exercise price | $ / shares

$ 0.01

$ 7

Unrecognized stock-based compensation expense | $

$ 4,000

Weighted average remaining contractual terms of unvested restricted stock

9 months 18 days

Preferred stock, shares authorized

5,000,000

5,000,000

Beneficially common stock outstanding, percentage

0.0499

Beneficial ownership limitation, percentage

0.0999

Common stock, par value | $ / shares

$ 0.0001

$ 0.0001

Issuance of shares

407,424

Net proceeds received | $

$ 1,600,000

$ 163

Restricted common stock of shares

40,000

Exercise warrant reduced

16,333

16,333

Common stock issued, description

The Company issued 47,605 shares of common stock upon the cashless exercise of warrants to purchase up to 57,750 shares of common stock.

The Company issued 176,272 shares of common stock upon the cashless exercise of warrants to purchase up to 215,747 shares of common stock. Those warrants were issued by the Company to Laidlaw pursuant to the terms of its engagement letter with Laidlaw with respect to the private placement of its securities from October 2017 through December 2017.

Stock issued for research and development | $

$ 36,000

Warrants to purchase

203,709

344,125

Preferred stock value | $

Warrants of stock holders equity, description

The Company estimated the relative fair value of the warrants at $0.8 million using the Black-Scholes option pricing model using the following primary assumptions: fair value of common stock underlying the warrants ranges from $2.55 to $4.33, expected life ranges from 2.0 to 5.0 years, volatility rate ranges from 107.30% to 110.08%, risk-free interest rate ranges from 1.42% to 1.48% and expected dividend rate of 0%.

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 Series A Preferred Stock, 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.

Net of offering costs | $

$ 1,200,000

Exchange for issuance units | $

13.77

Fair value of the stock award | $

$ 1,012

$ 507

Granted an employee

25,000

Fair value of shares | $

$ 15,000

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.

weighted average remaining contractual terms of unvested restricted stock awards

9 months 18 days

Stock-based compensation expense | $

$ 2,500,000

$ 100,000

Chief Executive Officer and Co-Founder [Member]

Stockholders' Equity (Textual)

Fair value of the stock award | $

$ 87,500

Nominal price of the shares | $

$ 87,500

Series A Preferred Stock [Member]

Stockholders' Equity (Textual)

Preferred stock, shares authorized

1,897,250

5,000,000

Preferred stock value | $

$ 310

Preferred stock outstanding | $

$ 0

$ 3,102,480

Investors [Member]

Stockholders' Equity (Textual)

Offering price per share | $ / shares

$ 5

Warrants exercise price | $ / shares

$ 8

$ 1

Gross proceeds | $

$ 2,037,120

2018 Equity Incentive Plan [Member]

Stockholders' Equity (Textual)

Aggregate grant fair value | $

$ 200,000

$ 2,000,000

Issuance of shares

50,000

475,000

Common stock reserved for issuance

1,000,000

Repurchase of issued common stock

31,513

Buyback common stock | $

$ 31,513

Buyback shares cancelled

31,513

2018 Equity Incentive Plan [Member] | Directors [Member]

Stockholders' Equity (Textual)

Issuance of shares of common stock, shares

25,000

Fair value of the stock award | $

$ 25,000

2018 Equity Incentive Plan [Member] | Scientific Advisory Board [Member]

Stockholders' Equity (Textual)

Fair value of the stock award | $

$ 11,000

Granted an employee

12,500

2018 Equity Incentive Plan [Member] | Non-Employee [Member]

Stockholders' Equity (Textual)

Options granted

12,500

Fair value of the stock award | $

$ 12,500

2018 Equity Incentive Plan [Member] | Employee [Member]

Stockholders' Equity (Textual)

Options granted

5,000

Fair value of the stock award | $

$ 5,000

Initial Public Offering [Member]

Stockholders' Equity (Textual)

Offering price per share | $ / shares

$ 5.60

Issuance of shares of common stock, shares

1,250,000

Shares of common stock

1,250,000

Net proceeds received | $

$ 5,800,000

Placement Agent Warrants [Member]

Stockholders' Equity (Textual)

Warrants to purchase of common stock shares

61,113

Placement Agent Warrants [Member] | Initial Exercise Date [Member]

Stockholders' Equity (Textual)

Warrants exercise price | $ / shares

$ 5

Convertible Preferred Stock [Member]

Stockholders' Equity (Textual)

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

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Commitments and Contingencies (Textual)
Rent expense	$ 32,000	$ 28,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Current
US Federal
US State
Total current provision
Deferred
US Federal	1,692,939	414,952
US State		2,825
Total deferred benefit	1,692,939	417,777
Change in valuation allowance	(1,692,939)	(417,777)
Total provision for income taxes

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Net operating loss carryforward	$ 1,975,501	$ 701,785
License acquired	133,182	144,265
Stock Compensation	427,558
Total deferred income tax assets	2,536,241	846,050
Prepaids		(2,613)
Depreciation fixed assets	(132)	(267)
Total deferred income tax liabilities	(132)	(2,880)
Net deferred income tax assets	2,536,109	843,170
Valuation allowance	(2,536,109)	(843,170)
Deferred tax asset, net of allowance

Income Taxes (Details 2)

Income Taxes (Details 2)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	(21.00%)	(21.00%)
State taxes, net of federal tax benefit	(0.00%)	(0.10%)
Return to Provision	(1.30%)
Other	0.40%
Change in valuation allowance	22.00%	21.10%
Income taxes provision (benefit)

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes (Textual)
Net operating loss carryforwards
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) - USD ($)	Feb. 05, 2020	Feb. 03, 2020	Feb. 29, 2020	Feb. 01, 2020	Aug. 16, 2019	Dec. 31, 2018
Subsequent Events (Textual)
Warrants to purchase					203,709	344,125
Subsequent Event [Member]
Subsequent Events (Textual)
Warrants to purchase
Exercise price
Warrants vest, description		The Company issued GWU warrants to purchase up to 22,988 shares of the Company's common stock at an exercise price of $4.35 per share. The warrants vest as follows: 20% upon the date of issuance and the balance, or 80% of the warrants shall vest in four equal annual installments of 20% on each anniversary of the initial issuance date.
Gross proceeds	$ 12,500
Common stock exercise	12,500
Subsequent Event [Member] | Common Stock [Member]
Subsequent Events (Textual)
Common stock, shares issued			1,388