Hoth Therapeutics (HOTH) 10-K 16 Mar 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 11, 2021	Jun. 30, 2020
Document Information Line Items
Entity Registrant Name	Hoth Therapeutics, Inc.
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		22,776,940
Entity Public Float			$ 32,175,389
Amendment Flag	false
Entity Central Index Key	0001711786
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Entity File Number	001-38803
Entity Incorporation, State or Country Code	NV
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash	$ 2,629,670	$ 1,690,866
Marketable equity securities, at fair value	2,063,236	803,664
Prepaid expenses	89,836	110,072
Deferred offering cost		30,484
Total current assets	4,782,742	2,635,086
Note receivable	50,000
Property and equipment, net		1,043
Investment in joint venture	410,000
Restricted cash		200,000
Total assets	5,242,742	2,836,129
Current liabilities
Accounts payable	129,469	403,885
Accrued expenses	128,180	36,236
Accrued license fee - current portion	54,500
Total current liabilities	312,149	440,121
Accrued license fee	285,000
Total liabilities	597,149	440,121
Commitments and contingencies
Stockholders’ equity
Preferred stock value
Common stock, $0.0001 par value, 75,000,000 shares authorized, 13,438,535 and 10,119,844 shares issued and outstanding at December 31, 2020 and 2019, respectively	1,343	1,012
Additional paid-in-capital	24,073,059	14,610,638
Accumulated deficit	(19,413,458)	(12,215,642)
Accumulated other comprehensive loss	(15,351)
Total stockholders’ equity	4,645,593	2,396,008
Total liabilities and stockholders’ equity	5,242,742	2,836,129
Series A Convertible Preferred Stock
Stockholders’ equity
Preferred stock value

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, par value (in Dollars per share)	$ 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 (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	13,438,535	10,119,844
Common stock, shares outstanding	13,438,535	10,119,844
Series A Convertible Preferred Stock
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,897,250	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating costs and expenses
Research and development	$ 2,281,363	$ 2,025,120
Research and development - licenses acquired (including stock-based compensation)	607,562	95,000
Compensation and related expenses (including stock-based compensation)	1,454,478	2,932,933
Professional fees (including stock-based compensation)	2,478,493	2,091,745
Rent	25,871	31,622
Other expenses	454,207	538,577
Total operating expenses	7,301,974	7,714,997
Loss from operations	(7,301,974)	(7,714,997)
Other income
Other income, net	104,158	10,636
Loss on foreign currency exchange		(275)
Total other income	104,158	10,361
Net loss	(7,197,816)	(7,704,636)
Other comprehensive loss
Foreign currency translation adjustment	(15,351)
Total comprehensive loss	$ (7,213,167)	$ (7,704,636)
Net loss per share applicable to common stockholders - basic and diluted (in Dollars per share)	$ (0.58)	$ (0.84)
Weighted average number of common shares outstanding, basic and diluted (in Shares)	12,362,833	9,164,577

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Cumulative Translation Adjustment	Total
Balance at Dec. 31, 2018	$ 507	$ 4,665,154	$ (4,511,006)		$ 154,965
Balance, (in Shares) at Dec. 31, 2018	5,071,400
Conversion of preferred stock to common stock upon completion of the IPO	$ 310
Conversion of preferred stock to common stock upon completion of the IPO (in Shares)	3,102,480
Issuance of common stock in the IPO	$ 125	5,840,042			5,840,167
Issuance of common stock in the IPO (in Shares)	1,250,000
Issuance of common stock and warrants	$ 41	1,610,089			1,610,130
Issuance of common stock and warrants (in Shares)	407,424
Cashless warrant exercise	$ 22	(22)
Cashless warrant exercise (in Shares)	223,877
Warrant exercise	$ 2	161			163
Warrant exercise (in Shares)	16,333
Stock-based compensation	$ 5	2,495,214			2,495,219
Stock-based compensation (in 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, (in Shares) at Dec. 31, 2019	10,119,844
Issuance of common stock and warrants	$ 145	4,193,611			4,193,756
Issuance of common stock and warrants (in Shares)	1,449,275
Issuance of common stock	$ 182	4,474,818			4,475,000
Issuance of common stock (in Shares)	1,818,182
Cancellation of common stock	$ (2)	2
Cancellation of common stock (in Shares)	(15,000)
Warrant exercise	$ 6	56,244			56,250
Warrant exercise (in Shares)	56,250
Stock-based compensation		737,746			737,746
Stock-based compensation (in Shares)	9,984
Cumulative translation adjustment				(15,351)	(15,351)
Net loss			(7,197,816)		(7,197,816)
Balance at Dec. 31, 2020	$ 1,343	$ 24,073,059	$ (19,413,458)	$ (15,351)	$ 4,645,593
Balance, (in Shares) at Dec. 31, 2020	13,438,535

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders’ Equity (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Issuance common stock in the IPO		$ 1,159,833
Issuance of common stock and warrants	$ 806,243	$ 426,990
Issuance of common stock	$ 525,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net loss	$ (7,197,816)	$ (7,704,636)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	1,043	1,225
Research and development-acquired license, expensed	506,957	95,000
Stock-based compensation	737,746	2,495,219
Realized loss on marketable securities	1,177
Unrealized gain on marketable securities	(50,553)	(3,664)
Changes in assets and liabilities:
Prepaid expenses	20,236	(97,716)
Accounts payable	(151,988)	267,357
Net cash used in operating activities	(6,133,198)	(4,947,215)
Cash flows from investing activities
Purchase of investments in joint venture	(410,000)
Purchase of research and development licenses	(167,457)	(95,000)
Purchase of marketable securities	(2,300,015)	(800,000)
Purchase of convertible promissory note in Isoprene	(50,000)
Sale of marketable securities	1,089,819
Net cash used in investing activities	(1,837,653)	(895,000)
Cash flows from financing activities
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	4,193,756	1,610,130
Proceeds from issuance common stock, net of offering cost	4,475,000
Proceeds from exercise of warrants	56,250	163
Net cash provided by financing activities	8,725,006	7,450,460
Effect of exchange rate changes on cash and cash equivalents	(15,351)
Net increase in cash	738,804	1,608,245
Cash and restricted cash, beginning of period	1,890,866	282,621
Cash and restricted cash, end of period	2,629,670	1,890,866
Non-cash investing and financing activities
Conversion of preferred stock to common stock upon completion of the IPO		310
Cancellation and retirement of common stock	2
Cashless warrant exercise		22
Offering cost included in accrued expenses		$ 30,484

Organization and Description of

Organization and Description of Business Operations	12 Months Ended
	Dec. 31, 2020
Accounting Policies [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 is a clinical-stage biopharmaceutical company which was formed to initially focus on developing new generation therapies for dermatological disorders including atopic dermatitis (also known as eczema), chronic wounds, psoriasis, asthma and acne. Since its formation, the Company expanded its business to also focus on developing a topical formulation for treating side effects from drugs used for the treatment of cancer; a treatment for asthma and allergies using inhalational administration; a topical treatment for patients with lupus; a treatment for mast-cell derived cancers and anaphylaxis; and a treatment for lung diseases resulting from bacterial infections. The Company is focused on potentially developing a COVID-19 treatment as well as a diagnostic device for the detection of SARS-CoV-2 via a mobile device. Liquidity and capital resources Accounting Standards Update (“ASU”) No. 2014-15, Presentation of Financial Statements - Going Concern The Company has funded its operations from proceeds from the sale of equity and debt securities. The Company will require significant additional capital to make the investments it needs to execute its longer-term business plan. The Company’s ability to successfully raise sufficient funds through the sale of debt or equity securities when needed is subject to many risks and uncertainties and, even if it were successful, future equity issuances would result in dilution to its existing stockholders and future debt securities may contain covenants that limit the Company’s operations or ability to enter into certain transactions. The Company’s current cash is sufficient to fund operations for at least the next 12 months from the date that these financial statements are available to be issued. However, the Company will need to raise additional funding through strategic relationships, public or private equity or debt financings, grants or other arrangements to develop and seek regulatory approvals for the Company’s existing and new product candidates. If such funding is not available, or not available on terms acceptable to the Company, the Company’s current development plan and plans for expansion of its general and administrative infrastructure may be curtailed.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
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 significant intercompany balances and transactions have been eliminated in consolidation. 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 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. 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, 2020 and 2019. Restricted cash In November 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-18 , Statement of Cash Flows (Topic 230): Restricted Cash , December 31, December 31, Cash $ 2,629,670 $ 1,690,866 Restricted cash - 200,000 Total cash and restricted cash $ 2,629,670 $ 1,890,866 The $0.2 million restricted cash was 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. On May 29, 2020, the $0.2 million restricted cash in the escrow account was returned to the Company. 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 initial public offering (“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 $0 and $30,000 of such offering costs were accrued but unpaid at December 31, 2020 and 2019, respectively. Investment in joint venture Ownership interests in entities for which the Company has significant influence that are not consolidated are accounted for as equity method investments. SEC Staff Announcement: Accounting for Limited Partnership Investments (codified in Accounting Standards Codification (“ASC”) 323-30-S99-1) guidance requires the use of the equity method unless the investor’s interest “is so minor that the limited partner may have virtually no influence over partnership operating and financial policies.” The SEC staff’s position is that investments in limited partnerships of greater than 3% to 5% are considered more than minor and, therefore, should be accounted for using the equity method or fair value option. Investments accounted for using the equity method may be reported on a lag up to three months if financial statements of the investee are not available in sufficient time for the investor to apply the equity method as of the current reporting date. The determination of whether an investee’s results are recorded on a lag is made on an investment-by-investment basis. This investment in joint venture is further described in Note of 7 these consolidated financial statements. 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 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, 2020 and 2019: Fair value measured at December 31, 2020 Total at December 31, Quoted prices in active markets Significant Significant unobservable inputs 2020 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 2,063,236 $ 2,063,236 $ - $ - Fair value measured at December 31, 2019 Total at December 31, Quoted prices in active markets Significant Significant unobservable inputs 2019 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 803,664 $ 803,664 $ - $ - 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 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 2020 2019 Warrants 1,235,266 1,032,692 Options 689,212 525,000 Non-vested restricted stock awards 9,882 13,200 Total 1,934,360 1,570,892 Recent accounting pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), Leases (Topic 840) In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting 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, 2020
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, 2020 and 2019: For the years ended December 31, 2020 2019 Chelexa Biosciences, Inc. and the University of Cincinnati $ 10,000 $ - The George Washington University 169,012 2,500 University of Maryland and Isoprene Pharmaceuticals, Inc. 35,000 10,000 North Carolina State University - 25,000 University of Cincinnati 26,550 7,500 U.S. Army Medical Research and Development Command 2,000 - Virginia Commonwealth University 365,000 - Zylö Therapeutics, Inc. - 50,000 $ 607,562 $ 95,000 Chelexa Biosciences, Inc. and the University of Cincinnati On May 14, 2020, the Company entered into an Assignment and Assumption Agreement (the “Assignment Agreement”) with Chelexa Biosciences, Inc. (“Chelexa”) pursuant to which Chelexa assigned to the Company its rights and obligations in and liabilities under its license agreement with the University of Cincinnati dated February 27, 2013, as amended (the “University of Cincinnati License Agreement”). In consideration for the assignment, the Company agreed to forgive all amounts due to it by Chelexa and to pay to Chelexa certain royalty payments. In connection with the Assignment Agreement, on May 14, 2020, the Company entered into a novation agreement (the “Novation Agreement”) with Chelexa and the University of Cincinnati pursuant to which the parties agreed that the Company would be substituted in place of Chelexa with respect to the rights and obligations of Chelexa set forth in the University of Cincinnati License Agreement. In connection with the Assignment Agreement, on May 14, 2020, the Company entered into a royalty agreement (the “Royalty Agreement”) with Chelexa pursuant to which the Company shall pay Chelexa sales-based royalties at percentages which range from mid to high single digits, with high sales volumes being subject to lower royalty rates and total milestone payments of $3.5 million. Pursuant to the University of Cincinnati License Agreement, the Company was granted an exclusive license 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”). In addition, the University of Cincinnati 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 $6,000, royalty payments, annual license maintenance fees, and has agreed to pay the University of Cincinnati for certain out-of-pocket expenses including, but not limited to, payments for patent prosecution. During the year ended December 31, 2020 the Company paid $5,000 for the annual license maintenance fee and $5,000 for the yearly minimum annual royalty fee. The George Washington University Effective as of June 1, 2019, the Company and The George Washington University (“GW”) entered into a sponsored research agreement (the “Sponsored Research Agreement”), as amended on July 29, 2019 and May 29, 2020, with respect to the exploration of the potential use of HT-001 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, GW granted the Company a non-exclusive license to certain of GW’s intellectual property. The Company has agreed to pay GW for all costs incurred in connection with the research; provided, however, such costs shall not exceed approximately $0.5 million. The Sponsored Research Agreement shall terminate on June 30, 2021. 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 GW entered into a research option agreement (the “Research Option Agreement”) pursuant to which GW 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 “GW Licensed Product”) that involve certain patents owned by GW (the “Licensed Patents”). On February 1, 2020, the Company exercised the Option and entered into a patent license agreement (the “Patent License Agreement”) with GW. On the Effective Date, the Company paid GW $2,500, and on February 27, 2020, the Company paid GW $10,000 as a license initiation fee. Until the first commercial sale of the GW Licensed Product, the Company shall pay (i) $75,000 per year for the development and commercialization of the GW 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 GW 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. The Company shall also pay GW 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 GW, on a quarterly basis, for all costs and expenses related to the Licensed Patents. On August 7, 2020 (the “GW Effective Date”), the Company entered into a Patent License Agreement (the “GW Patent License Agreement”) with the GW. Pursuant to the GW Patent License Agreement, GW granted the Company an exclusive, worldwide, royalty bearing license to certain intellectual property that can be used to develop a device designed to detect the presence of SARS-CoV-2. Specifically, the GW Patent License Agreement permits the Company to make, have made, use, import, offer for sale and sell Licensed Products (as defined in the GW Patent License Agreement) in the field of virus sensing and detection. The GW Patent License Agreement shall commence on the GW Effective Date and shall continue until the later of: (a) the expiration or abandonment of the last patent to expire or become abandoned of the Patent Rights (as defined in the GW Patent License Agreement); or (b) ten years after the first Sale (as defined in the GW Patent License Agreement) of the first Licensed Product if no patent has issued from the Patent Rights, unless terminated earlier pursuant to the terms of the agreement. Pursuant to the GW Patent License Agreement, the Company shall pay GW: (i) an upfront license initiation fee, (ii) annual maintenance fees commencing on the first anniversary of the GW Effective Date, (iii) milestone payments ranging from the low to mid five figures, (iv) running royalty payments at a middle single digit percentage of Net Sales (as defined in the GW License Agreement), (iv) quarterly minimum payments ranging from the low four figures for the first four quarters after the first sale to low five figures commencing three years after the first sale and (v) an annual diligence fee of high five figures. In addition, the Company has agreed to reimburse GW for certain past and future patent filing and prosecution costs. On September 17, 2020, the Company entered into a Sponsored Research Agreement (the “Agreement”) with GW effective as of September 1, 2020 (the “Agreement Effective Date”). The Agreement relates to the development of a diagnostic device for the detection of SARS-CoV-2 via a mobile device as an aid in the diagnosis of the COVID-19 infection. The Agreement commences on the Agreement Effective Date and terminates on July 31, 2021 unless such term is extended or terminated by the parties. Pursuant to the Agreement, the Company shall pay GW up to a mid-six figure fee for all research costs. During the year ended December 31, 2020 the Company paid $10,000 for license initiation fee, $10,000 for option exercise fee and approximately $15,000 patent related expense. The Company also recorded an expense of approximately $134,000 related with warrants granted to GW pursuant to Patent License Agreement. University of Maryland and Isoprene Pharmaceuticals, Inc. On March 8, 2019, the Company entered into a commercial evaluation sublicense and option agreement (the “Commercial Evaluation Sublicense and Option Agreement”) with the University of Maryland, Baltimore (“UMB”) and Isoprene Pharmaceuticals, Inc. (“Isoprene”). Pursuant to the agreement, the Company paid an initial option and material access fee of $5,000 to UMB and $5,000 to Isoprene. In the event that Isoprene enters into a master license agreement with UMB (the “MLA”), UMB 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, UMB may grant the Company an option to negotiate and obtain an exclusive sublicensable, worldwide royalty-bearing license to the subject technology (the “UMB-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 UMB-Hoth Option, it shall pay UMB an option exercise fee of $20,000. On July 30, 2020 (the “Isoprene Effective Date”), the Company entered into a Sublicense Agreement (the “Isoprene Sublicense Agreement”) with Isoprene pursuant to the Commercial Evaluation Sublicense and Option Agreement. Pursuant to the Isoprene Sublicense Agreement, Isoprene granted the Company an exclusive sublicense to certain intellectual property (i) to make, have made, use, sell, offer to sell and import certain licensed products, (ii) in connection therewith, to use certain inventions and licensed materials and (iii) to practice the Patent Rights (as defined in the Isoprene Sublicense Agreement) for the treatment of dermatological conditions or diseases. The Isoprene Sublicense Agreement will continue on a country-by-country basis until the expiration of the last to expire of the Patent Rights in such country, unless earlier terminated pursuant to the Isoprene Sublicense Agreement (the “Isoprene Term”). Pursuant to the Isoprene Sublicense Agreement, the Company shall pay Isoprene, among other things, (i) a license fee, (ii) a royalty rate at a middle single digit percentage, (iii) milestone payments of up to $1,375,000 and (iv) revenue interest at a low single digit percentage based on the net revenue of covered products sold by Isoprene during the Isoprene Term. In March 2019, the Company recorded an expense of an aggregate of $10,000 for the initial option and materials access fee. During the year ended 2020, the Company paid a total of $30,000 for the license fee. At December 31, 2020, the Company accrued a $5,000 for an upfront license payment. On December 2, 2020, Hoth Therapeutics, Inc. (the “Company”) entered into an option agreement (the “Option Agreement”) with Isoprene Pharmaceutics, Inc. (“Isoprene”), pursuant to which the Company will have an exclusive option, until June 2, 2021, to negotiate an exclusive, royalty-bearing and limited term license with respect to certain previously sublicensed intellectual property for the diagnosis and treatment of inflammatory bowel diseases, including Crohn’s disease and ulcerative colitis. This Option Agreement is based upon, and potentially expands, the fields of use in which the Company can license certain Isoprene intellectual property that is the subject of the Company’s existing Sublicense Agreement, dated July 30, 2020, with Isoprene, and the Master License Agreement, dated July 8, 2020, by and between Isoprene and the University of Maryland, Baltimore. During the year ended December 31, 2020 the Company paid $10,000 for license fee and $20,000 for the option exercise fee. As of December 31, 2020, the Company accrued a $5,000 for an upfront license payment. North Carolina State University On November 20, 2019 (the “NC State Effective Date”), the Company entered into a license agreement with North Carolina State University (“NC State”) pursuant to which NC State 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 HT-004 for treating allergic diseases. The term of the license agreement shall commence on the NC State 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 NC State 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. 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 paid the University of Cincinnati a minimum annual royalty fee of $5,000 and has agreed to pay the University of Cincinnati 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 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) ten years after the first commercial sale or unless earlier terminated pursuant to the terms of the exclusive license agreement. During the year ended December 31, 2020, the Company paid a total of $2,500 for the annual license maintenance fee, $5,000 for the yearly minimum annual royalty fee and approximately $2,000 for patent expense reimbursement. As of December 31, 2020, the Company accrued a $17,500 for an upfront license payment. U.S. Army Medical Research and Development Command On December 11, 2020, the Company entered into a commercial evaluation license agreement with U.S. Army Medical Research and Development Command (“USAMRDC”). This agreement was amended on January 12, 2021 to clarify that the license entered into is with Walter Reed Army Institute of Research, a subsidiary of USAMRDC. As of December 31, 2020, the Company accrued a $2,000 for an upfront license payment. Virginia Commonwealth University On May 18, 2020 (the “VCU Effective Date”), the Company entered into an Exclusive License Agreement (the “VCU License Agreement”) with the Virginia Commonwealth University Intellectual Property Foundation (“VCU”). Pursuant to the VCU License Agreement, VCU granted the Company an exclusive, royalty bearing license to a novel peptide developed by researchers at VCU that may be used to slow the transmission of SARS-CoV-2 (the “VCU Licensed Patent”) and a non-exclusive royalty bearing, worldwide license with respect to the Licensed Technical Information Patents (as defined in the VCU License Agreement) to make, have made, use, offer to sell, sell and import the Licensed Products (as defined in the VCU License Agreement) and perform the Licensed Services (as defined in the VCU License Agreement). The VCU License Agreement commenced on the VCU Effective Date and shall continue until the expiration of the last to expire VCU Licensed Patent unless terminated earlier pursuant to the terms of the agreement. Pursuant to the VCU License Agreement, the Company shall pay VCU: (i) an upfront license issue fee, (ii) running royalty payments at a low single digit percentage of Net Sales (as defined in the VCU License Agreement), (iii) annual maintenance fees commencing on the first anniversary of the VCU Effective Date, (iv) annual minimum payments ranging from the mid five figures to low six figures commencing on the second anniversary of the VCU Effective Date and (v) milestone payments ranging from the mid five figures to low six figures. In addition, the Company has agreed to reimburse VCU for certain patent filing and prosecution costs. On June 29, 2020, the Company entered into a Sponsored Project Agreement (the “VCU Sponsored Project Agreement”) with VCU for the development of a potential COVID-19 treatment using the license to a novel peptide granted to the Company by VCU. The VCU Sponsored Project Agreement shall terminate on January 9, 2021, unless earlier terminated pursuant to the terms thereof. In May 2020, the Company paid the signing fee of $50,000 upon execution of the VCU License Agreement. The Company also accrued $285,000 for five years of annual minimum payments and $30,000 for annual maintenance fees. 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 an upfront license fee of $50,000 and is required to pay Zylö (i) 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 (ii) total milestone payments of up to $13.5 million. In addition, in connection with the Company’s March 2020 underwritten public offering of shares of its common stock, on May 4, 2020, the Company purchased 30,000 shares of Zylö’s Class B common stock for $60,000. Effective January 1, 2018, the Company adopted ASU 2016-01 concerning recognition and measurement of financial assets and financial liabilities. In adopting this new guidance, the Company has made an accounting policy election to adopt an adjusted cost method measurement alternative for its investment in Zylö.

Note Receivable

Note Receivable	12 Months Ended
	Dec. 31, 2020
Premiums Receivable Disclosure [Abstract]
Note Receivable	Note 4—Note Receivable Pursuant to Isoprene Sublicense Agreement dated July 30, 2020, the Company made an investment of $50,000 in Isoprene in the form of a convertible promissory note (the “Isoprene Note”) on September 10, 2020. The Isoprene Note matures on September 10, 2022 and accrues interest at a rate equal to the lower of: (i) the highest lawful rate permitted under applicable law and (ii) 6% per annum. The Isoprene Note may not be prepaid without the prior written consent of the Company. In the event a Qualified Financing (as defined below) occurs before the Isoprene Note is repaid in full or the conversion of such note pursuant to a Change of Control (as defined in the Isoprene Note) transaction, the Isoprene Note may be converted into such number of convertible preferred stock issued in the Qualified Financing equal to the balance of such note divided by the Capped Conversion Price (as defined below). “Qualified Financing” means the first sale of Isoprene’s convertible preferred in a private financing that results in gross proceeds of at least $5 million. “Capped Conversion Price” means the lesser of (i) the per share or unit price in the Qualified Financing and (ii) an amount determined by dividing (A) $15 million by (B) the fully diluted capitalization Isoprene immediately prior to the conversion of the Isoprene Note. In the event a Change of Control occurs before the Isoprene Note is repaid in full or the conversion of such note pursuant to a Qualified Financing, the Isoprene Note may be converted into such number of shares of Isoprene’s common stock equal to the quotient obtained by dividing (i) the balance of the Isoprene Note by (ii) two times the fair market value of a share of Isoprene common stock as set for in the acquisition agreement pertaining to such Change of Control.

Related Party

Related Party	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party	Note 5—Related Party A former director of the Company, is also the Executive Chairman of Chelexa. During the year ended December 31, 2020, that director received $22,500 in cash compensation for services provided as a member of the Company’s board of directors. On September 30, 2020, this director resigned as a member of the Company’s board of directors. Options issued to him expired on December 30, 2020. During the year ended December 31, 2019, that director received $30,000 in cash compensation for services provided as a board member 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. A former director of the Company, is also the Chief Executive Officer, Principal Accounting and Financial Officer and a member of the board of directors of AIkido Pharma Inc. During the year ended December 31, 2020, that director received $8,736 in cash compensation for services provided as a member of the Company’s board of directors. On April 15, 2020, this director resigned as a member of the Company’s board of directors. Options issued to him expired on July 15, 2020. During the year ended December 31, 2019, that director received $30,000 in cash compensation for services provided as a board member. 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.

Investments in Marketable Secur

Investments in Marketable Securities	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Investments in Marketable Securities	Note 6—Investments in Marketable Securities The realized gain or loss, unrealized gain or loss, and dividend income related to marketable securities for the years ended December 31, 2020 and 2019, 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, 2020 2019 Unrealized gain $ 50,553 $ 3,664 Realized loss (1,177 ) - Dividend income 31,152 6,947 Interest income 8 25 $ 80,536 $ 10,636

Investment in HaloVax

Investment in HaloVax	12 Months Ended
	Dec. 31, 2020
Investment In Halovax [Abstract]
Investment in HaloVax	Note 7—Investment in HaloVax On March 23, 2020, the Company entered into a Development and Royalty Agreement (the “Development and Royalty Agreement”) with Voltron Therapeutics, Inc. (“Voltron”) to form a joint venture entity named HaloVax, LLC (“HaloVax”) to jointly develop potential product candidates for the prevention of COVID-19 based upon certain technology that had been exclusively licensed by Voltron from The General Hospital Corporation (d/b/a Massachusetts General Hospital). Pursuant to the Development and Royalty Agreement, the Company is entitled to receive sales-based royalties. In addition, pursuant to the terms of the Development and Royalty Agreement, on March 23, 2020, the Company and HaloVax entered into a Membership Interest Purchase Agreement pursuant to which the Company purchased 5% of HaloVax’s outstanding membership interests for $250,000 on March 27, 2020 (the “Initial Closing Date”) and had the option to purchase up to an additional 25% of HaloVax’s membership interests (for $3,000,000 (inclusive of the $250,000)), which option expired 30 days after the Initial Closing Date. On May 28, 2020, the Company entered into a membership interest purchase agreement to purchase 1% of HaloVax’s outstanding membership interest for a purchase price of $100,000. The Company accounts for the foregoing investments under the equity method. There was no significant change in HaloVax’s operations from March 23, 2020 to December 31, 2020.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 8—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, 2020, 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 IPO. The shares of Series A Convertible Preferred Stock are not mandatorily redeemable and do 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. Common Shares On February 15, 2019, the Company announced the pricing of its IPO 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. On January 15, 2020, pursuant to the termination and general release agreement between the Company and FON Consulting LLC dated January 7, 2020, 15,000 of the shares of common stock originally issued to FON Consulting LLC were cancelled. On February 5, 2020, the Company issued 12,500 shares of common stock upon exercise of warrants issued to an investor on January 19, 2018, which resulted in gross proceeds of $12,500. On March 6, 2020, the Company issued 25,000 shares of common stock upon exercise of warrants issued to an investor on December 14, 2017, which resulted in gross proceeds of $25,000. On May 18, 2020, the Company issued 6,250 shares of common stock upon exercise of warrants issued to an investor on February 2, 2018, which resulted in gross proceeds of $6,250. On June 3, 2020, the Company issued 12,500 shares of common stock upon exercise of warrants issued to an investor on November 20, 2017, which resulted in gross proceeds of $12,500. During the year ended December 31, 2020, the Company issued an aggregate of 9,984 shares of the Company’s common stock to members of the Company’s Board for services rendered. Public Offering of Securities On March 24, 2020 (the “UA Effective Date”), the Company entered into an underwriting agreement with Laidlaw & Company (UK) Ltd. (“Laidlaw”), the representative of the underwriters, relating to a best efforts underwritten public offering of 1,449,275 shares (the “Shares”) of the Company’s common stock at a public offering price of $3.45 per Share. The Company received net proceeds of approximately $4.2 million, after deducting the underwriting discount and offering expenses. In connection with the offering, on March 26, 2020, the Company issued Laidlaw warrants to purchase up to 72,464 shares of the Company’s common stock. The warrants are exercisable for a period of five years from the UA Effective Date at a price per share equal to $4.14, subject to adjustment, and may be exercised on a cashless basis. The Company reimbursed Laidlaw for certain of its out-of-pocket expenses incurred in connection with the offering. On May 21, 2020, the Company entered into an underwriting agreement with The Benchmark Company, LLC (“Benchmark”), as representative of the several underwriters, relating to the public offering of 1,818,182 shares of the Company’s common stock at a price to the public of $2.75 per share. The Company received net proceeds of approximately $4.5 million, after deducting the underwriting discount and offering expenses. In connection with the offering, on May 27, 2020 (the “Benchmark Issue Date”), the Company issued Benchmark warrants to purchase up to 90,909 shares of the Company’s common stock. The warrants are exercisable for a period of five years commencing six months from the Benchmark Issue Date at a price per share equal to $2.75, subject to adjustment, and may be exercised on a cashless basis. 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 “2019 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 2019 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%. 2018 Equity Incentive Plan The Company’s 2018 Equity Incentive Plan (the “2018 Plan”) was adopted by the Company’s 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. Restricted Stock Awards A summary of the Company’s restricted stock awards granted under the 2018 Plan during the years ended December 31, 2020 and 2019 is as follows: Number of Restricted Stock Awards Weighted Average Grant Day Fair Value Nonvested at December 31, 2018 21,530 $ 0.25 Granted 40,000 5.11 Vested (48,330 ) 3.97 Nonvested at December 31, 2019 13,200 $ 0.25 Granted 6,666 3.00 Vested (9,984 ) 0.49 Nonvested at December 31, 2020 9,882 $ 1.86 As of December 31, 2020, approximately $9,000 of unrecognized stock-based compensation expense related to restricted stock awards. The weighted average remaining contractual terms of unvested restricted stock awards is approximately 1.9 years at December 31, 2020. Stock Options The fair value of options granted in 2020 and 2019 was estimated using the following assumptions: For the years ended December 31, 2020 2019 Exercise price $2.54-3.05 $5.26-$5.88 Term (years) 9.52-9.56 4.18-9.98 Expected stock price volatility 114.2%-114.5% 111.2%-112.1% Risk-free rate of interest 0.29% 1.75%-2.52% A summary of option activity under the Company’s stock option plan for years ended December 31, 2020 and 2019 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, 2019 525,000 $ 5.32 $ 457,250 9.4 Employee options issued 200,000 3.05 - 8.8 Non - employee options issued 49,212 2.54 - 9.5 Forfeited (85,000 ) - - - Outstanding as of December 31, 2020 689,212 $ 4.52 $ - 8.8 Options vested and exercisable 689,212 $ 4.52 $ - 8.8 Stock Based Compensation Stock-based compensation expense for the years ended December 31, 2020 and 2019 was approximately $0.7 million and $2.5 million, respectively, and comprised of the following: For the years ended December 31, 2020 2019 Employee stock option awards $ 487,963 $ 2,195,812 Non-employee stock option awards 100,104 - Employee restricted stock awards 15,510 10,252 Non-employee restricted stock awards - 204,550 Non-employee stock warrant awards 134,169 84,605 $ 737,746 $ 2,495,219 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. Warrants Pursuant to the Patent License Agreement between the Company and GW dated February 1, 2020, on February 27, 2020 (the “February Warrant Date of Issuance”), the Company issued GW ten year warrants (the “February Warrants”) to purchase up to 22,988 shares of the Company’s common stock at an exercise price of $4.35 per share. The February Warrants vest as follows: 20% on the February Warrant Date of Issuance and the balance, or 80% of the February Warrants, vest in four equal annual installments of 20% on each anniversary of the February Warrant Date of Issuance. Pursuant to the GW Patent License Agreement between the Company and GW dated August 7, 2020, on August 10, 2020 (the “August Warrant Date of Issuance”), the Company issued GW ten year warrants (the “August Warrants”) to purchase up to 72,463 shares of the Company’s common stock at an exercise price of $2.76 per share. The August Warrants vest as follows: 20% on the August Warrant Date of Issuance and the balance, or 80% of the August Warrants, shall vest in four equal annual installments of 20% on each anniversary of the August Warrant Date of Issuance. In connection with the public offering of securities discussed above, the Company granted to Laidlaw and Benchmark warrants to purchase up to 72,464 and 90,909 shares of the Company’s common stock, respectively. A summary of warrant activity for the years ended December 31, 2020 and 2019 is presented below: Number of Warrants Weighted Average Total Intrinsic Value Weighted Average Remaining Contractual Life (in years) 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 Issued 258,824 3.28 - 4.9 Exercised (56,250 ) 1.00 - - Outstanding as of December 31, 2020 1,235,266 $ 3.07 $ 696,334 3.4 Warrants exercisable as of December 31, 2020 1,158,906 $ 3.07 $ 696,334 3.5

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 9—Commitments and contingencies Office lease The Company leases office space for approximately $2,500 a month. Rent expense for the years ended December 31, 2020 and 2019 was approximately $25,000 and $32,000, 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, 2020
Income Tax Disclosure [Abstract]
Income taxes	Note 10—Income taxes The table below presents the components of the provision for taxes: As of December 31, 2020 2019 Current US Federal $ - $ - US State - - Total current provision - - Deferred US Federal 1,489,095 1,686,735 US State - - Total deferred benefit 1,489,095 1,686,735 Change in valuation allowance (1,489,095 ) (1,686,735 ) Total provision for income taxes $ - $ - At December 31, 2020 and 2019, the tax effects of the temporary differences and carryforwards that give rise to deferred tax assets consist of the following: As of December 31, 2020 2019 Deferred tax assets: Net operating loss carryforward $ 3,336,268 $ 1,975,501 License acquired 139,487 133,182 Stock Compensation 549,387 427,558 Total deferred income tax assets 4,025,142 2,536,241 Deferred income tax assets liabilities: Prepaids - - Depreciation fixed assets 63 (132 ) Total deferred income tax liabilities 63 (132 ) Net deferred income tax assets 4,025,205 2,536,109 Valuation allowance (4,025,205 ) (2,536,109 ) 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, 2020 and 2019 is as follows: Years Ended December 31, 2020 2019 Statutory federal income tax rate (21.0 )% (21.0 )% State taxes, net of federal tax benefit 0.0 % 0.0 % Return to Provison 0.0 % (1.3 )% Other 0.3 % 0.4 % Change in valuation allowance 20.7 % 22.0 % 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, 2020, the Company has net operating loss carryforwards of approximately $15.9 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 years ended December 31, 2018 and 2019 of approximately $14.4 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, 2020 and 2019, 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, 2020 and 2019, 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.

Risk and Uncertainties

Risk and Uncertainties	12 Months Ended
	Dec. 31, 2020
Risks and Uncertainties [Abstract]
Risk and Uncertainties	Note 10—Risk and Uncertainties The outbreak of the novel Coronavirus (COVID-19) evolved into a global pandemic. The Coronavirus has spread to many regions of the world. The extent to which the Coronavirus impacts the Company’s business and operating results will depend on future developments that are highly uncertain and cannot be accurately predicted, including new information that may emerge concerning the Coronavirus and the actions to contain the Coronavirus or treat its impact, among others. As a result of the continuing spread of the Coronavirus, certain aspects of the Company’s business operations have been delayed, and the Company may be subject to additional delays or interruptions. Specifically, as a result of the shelter-in-place orders and other mandated local travel restrictions, among other things, the research and development activities of certain of the Company’s partners may be affected, which may result in delays to the Company’s clinical trials, and the Company can provide no assurance as to when such trials, if delayed, will resume at this time or the revised timeline to complete trials once resumed. Furthermore, site initiation, participant recruitment and enrollment, participant dosing, distribution of clinical trial materials, study monitoring and data analysis may be paused or delayed due to changes in hospital or university policies, federal, state or local regulations, prioritization of hospital resources toward pandemic efforts, or other reasons related to the pandemic. If the Coronavirus continues to spread, some participants and clinical investigators may not be able to comply with clinical trial protocols. For example, quarantines or other travel limitations (whether voluntary or required) may impede participant movement, affect sponsor access to study sites, or interrupt healthcare services, and the Company may be unable to conduct its clinical trials. Further, if the spread of the Coronavirus pandemic continues and the Company’s operations are adversely impacted, the Company risks a delay, default and/or nonperformance under existing agreements which may increase its costs. These cost increases may not be fully recoverable or adequately covered by insurance. Infections and deaths related to the pandemic may disrupt the United States’ healthcare and healthcare regulatory systems. Such disruptions could divert healthcare resources away from, or materially delay FDA review and/or approval with respect to, the Company’s clinical trials. It is unknown how long these disruptions could continue, were they to occur. Any elongation or de-prioritization of the Company’s clinical trials or delay in regulatory review resulting from such disruptions could materially affect the development and study of the Company’s product candidates. The Company currently utilizes third parties to, among other things, manufacture raw materials. If any third-party party in the supply chain for materials used in the production of the Company’s product candidates are adversely impacted by restrictions resulting from the Coronavirus outbreak, the Company’s supply chain may be disrupted, limiting the Company’s ability to manufacture its product candidates for its clinical trials and research and development. The spread of the Coronavirus, which has caused a broad impact globally, including restrictions on travel and quarantine policies put into place by businesses and governments, may have a material economic effect on the Company’s business. While the potential economic impact brought by and the duration of the pandemic may be difficult to assess or predict, it has already caused, and is likely to result in further, significant disruption of global financial markets, which may reduce our ability to access capital either at all or on favorable terms. In addition, a recession, depression or other sustained adverse market event resulting from the spread of the Coronavirus could materially and adversely affect the Company’s business and the value of its common stock. The ultimate impact of the current pandemic, or any other health epidemic, is highly uncertain and subject to change. The Company does not yet know the full extent of potential delays or impacts on its business, its clinical trials, its research programs, healthcare systems or the global economy as a whole. However, these effects could have a material impact on the Company’s operations, and the Company will continue to monitor the situation closely.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 12—Subsequent Events The compensation committee of the board of directors increased the number of shares reserved pursuant to the Company’s 2018 Plan by 671,926 shares effective as of January 1, 2021 such that as of January 1, 2021, the Company had an aggregate of 1,671,926 shares of common stock reserved for issuance pursuant to the 2018 Plan. On January 5, 2021, the Company entered into a Securities Purchase Agreement with certain accredited investors identified on the signature pages thereto (the “Purchasers”) pursuant to which the Company offered and sold to the Purchasers an aggregate of 2,475,248 shares of its common stock and warrants to purchase up to 1,237,624 shares of common stock in a private placement for aggregate gross proceeds to the Company of $5 million, before deducting estimated offering expenses payable by the Company. The combined purchase price for each share of common stock and accompanying warrant to purchase 0.5 of a share of common stock was $2.02. The closing of the offering occurred on January 7, 2021.Each warrant is immediately exercisable for a period of five years at an exercise price of $2.25 per Warrant Share, subject to adjustment, and may be exercised on a cashless basis. In addition, pursuant to the terms of the offering, the Company issued Benchmark Company, LLC warrants to purchase up to 185,644 shares of common stock. Benchmark’s warrants are exercisable for a period of five years from the closing date of the offering at an exercise price of $2.25 per share, subject to adjustment. On February 25, 2021, the Company entered into an exclusive, worldwide, royalty bearing license with NC State pursuant to which NC State granted the Company an exclusive, worldwide, royalty bearing license to certain intellectual property to, among other things, discover, develop, make, have made, use and sell certain licensed products and sell, use and practice certain licensed services with respect to cancer and anaphylaxis. On March 8, 2021, the Company entered into a securities purchase agreement with certain institutional and accredited investors pursuant to which it offered and sold to the purchaser 6,826,962 shares of common stock, pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 767,975 shares of common stock and warrants (the “Common Stock Warrants”) to purchase up to 7,594,937

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2020
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 significant intercompany balances and transactions have been eliminated in consolidation.
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 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.
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, 2020 and 2019.
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 , December 31, December 31, Cash $ 2,629,670 $ 1,690,866 Restricted cash - 200,000 Total cash and restricted cash $ 2,629,670 $ 1,890,866 The $0.2 million restricted cash was 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. On May 29, 2020, the $0.2 million restricted cash in the escrow account was returned to the Company.
Marketable securities	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	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 initial public offering (“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 $0 and $30,000 of such offering costs were accrued but unpaid at December 31, 2020 and 2019, respectively.
Investment in joint venture	Investment in joint venture Ownership interests in entities for which the Company has significant influence that are not consolidated are accounted for as equity method investments. SEC Staff Announcement: Accounting for Limited Partnership Investments (codified in Accounting Standards Codification (“ASC”) 323-30-S99-1) guidance requires the use of the equity method unless the investor’s interest “is so minor that the limited partner may have virtually no influence over partnership operating and financial policies.” The SEC staff’s position is that investments in limited partnerships of greater than 3% to 5% are considered more than minor and, therefore, should be accounted for using the equity method or fair value option. Investments accounted for using the equity method may be reported on a lag up to three months if financial statements of the investee are not available in sufficient time for the investor to apply the equity method as of the current reporting date. The determination of whether an investee’s results are recorded on a lag is made on an investment-by-investment basis. This investment in joint venture is further described in Note of 7 these consolidated financial statements.
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 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, 2020 and 2019: Fair value measured at December 31, 2020 Total at December 31, Quoted prices in active markets Significant Significant unobservable inputs 2020 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 2,063,236 $ 2,063,236 $ - $ - Fair value measured at December 31, 2019 Total at December 31, Quoted prices in active markets Significant Significant unobservable inputs 2019 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 803,664 $ 803,664 $ - $ -
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 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 2020 2019 Warrants 1,235,266 1,032,692 Options 689,212 525,000 Non-vested restricted stock awards 9,882 13,200 Total 1,934,360 1,570,892
Recent accounting pronouncements	Recent accounting pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), Leases (Topic 840) In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Significant Accounting Polici_2

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of cash and restricted cash total as presented in the consolidated statements of cash flows	December 31, December 31, Cash $ 2,629,670 $ 1,690,866 Restricted cash - 200,000 Total cash and restricted cash $ 2,629,670 $ 1,890,866
Schedule of asset and liabilities measured at fair value	Fair value measured at December 31, 2020 Total at December 31, Quoted prices in active markets Significant Significant unobservable inputs 2020 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 2,063,236 $ 2,063,236 $ - $ - Fair value measured at December 31, 2019 Total at December 31, Quoted prices in active markets Significant 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 2020 2019 Warrants 1,235,266 1,032,692 Options 689,212 525,000 Non-vested restricted stock awards 9,882 13,200 Total 1,934,360 1,570,892

License Agreements (Tables)

License Agreements (Tables)	12 Months Ended
	Dec. 31, 2020
License Agreement [Abstract]
Schedule of research and development expenses for licenses acquired	For the years ended December 31, 2020 2019 Chelexa Biosciences, Inc. and the University of Cincinnati $ 10,000 $ - The George Washington University 169,012 2,500 University of Maryland and Isoprene Pharmaceuticals, Inc. 35,000 10,000 North Carolina State University - 25,000 University of Cincinnati 26,550 7,500 U.S. Army Medical Research and Development Command 2,000 - Virginia Commonwealth University 365,000 - Zylö Therapeutics, Inc. - 50,000 $ 607,562 $ 95,000

Investments in Marketable Sec_2

Investments in Marketable Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of consolidated statements of operations	For the years ended December 31, 2020 2019 Unrealized gain $ 50,553 $ 3,664 Realized loss (1,177 ) - Dividend income 31,152 6,947 Interest income 8 25 $ 80,536 $ 10,636

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Schedule of stock option plan	Number of Restricted Stock Awards Weighted Average Grant Day Fair Value Nonvested at December 31, 2018 21,530 $ 0.25 Granted 40,000 5.11 Vested (48,330 ) 3.97 Nonvested at December 31, 2019 13,200 $ 0.25 Granted 6,666 3.00 Vested (9,984 ) 0.49 Nonvested at December 31, 2020 9,882 $ 1.86
Schedule of fair value of options granted	For the years ended December 31, 2020 2019 Exercise price $2.54-3.05 $5.26-$5.88 Term (years) 9.52-9.56 4.18-9.98 Expected stock price volatility 114.2%-114.5% 111.2%-112.1% Risk-free rate of interest 0.29% 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, 2019 525,000 $ 5.32 $ 457,250 9.4 Employee options issued 200,000 3.05 - 8.8 Non - employee options issued 49,212 2.54 - 9.5 Forfeited (85,000 ) - - - Outstanding as of December 31, 2020 689,212 $ 4.52 $ - 8.8 Options vested and exercisable 689,212 $ 4.52 $ - 8.8
Schedule of stock-based compensation expense	For the years ended December 31, 2020 2019 Employee stock option awards $ 487,963 $ 2,195,812 Non-employee stock option awards 100,104 - Employee restricted stock awards 15,510 10,252 Non-employee restricted stock awards - 204,550 Non-employee stock warrant awards 134,169 84,605 $ 737,746 $ 2,495,219
Schedule of warrant activity	Number of Warrants Weighted Average Total Intrinsic Value Weighted Average Remaining Contractual Life (in years) 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 Issued 258,824 3.28 - 4.9 Exercised (56,250 ) 1.00 - - Outstanding as of December 31, 2020 1,235,266 $ 3.07 $ 696,334 3.4 Warrants exercisable as of December 31, 2020 1,158,906 $ 3.07 $ 696,334 3.5

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of statutory income tax rates	As of December 31, 2020 2019 Current US Federal $ - $ - US State - - Total current provision - - Deferred US Federal 1,489,095 1,686,735 US State - - Total deferred benefit 1,489,095 1,686,735 Change in valuation allowance (1,489,095 ) (1,686,735 ) Total provision for income taxes $ - $ -
Schedule of statutory income tax rates	As of December 31, 2020 2019 Deferred tax assets: Net operating loss carryforward $ 3,336,268 $ 1,975,501 License acquired 139,487 133,182 Stock Compensation 549,387 427,558 Total deferred income tax assets 4,025,142 2,536,241 Deferred income tax assets liabilities: Prepaids - - Depreciation fixed assets 63 (132 ) Total deferred income tax liabilities 63 (132 ) Net deferred income tax assets 4,025,205 2,536,109 Valuation allowance (4,025,205 ) (2,536,109 ) Deferred tax asset, net of allowance $ - $ -
Schedule of statutory income tax rates	Years Ended December 31, 2020 2019 Statutory federal income tax rate (21.0 )% (21.0 )% State taxes, net of federal tax benefit 0.0 % 0.0 % Return to Provison 0.0 % (1.3 )% Other 0.3 % 0.4 % Change in valuation allowance 20.7 % 22.0 % Income taxes provision (benefit) - % - %

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($)	Jan. 01, 2017	Dec. 31, 2020	May 29, 2020	Dec. 31, 2019	Aug. 16, 2019
Significant Accounting Policies (Details) [Line Items]
Restricted cash escrow deposit		$ 200,000	$ 200,000
Deferred offering costs		$ 0		$ 30,000
Ownership interest, percentage					9.99%
Estimated forfeiture rate awards percentage	0.00%
Minimum [Member]
Significant Accounting Policies (Details) [Line Items]
Ownership interest, percentage		3.00%
Maximum [Member]
Significant Accounting Policies (Details) [Line Items]
Ownership interest, percentage		5.00%

Significant Accounting Polici_4

Significant Accounting Policies (Details) - Schedule of cash and restricted cash total as presented in the consolidated statements of cash flows - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Schedule of cash and restricted cash total as presented in the consolidated statements of cash flows [Abstract]
Cash	$ 2,629,670	$ 1,690,866
Restricted cash		200,000
Total cash and restricted cash	$ 2,629,670	$ 1,890,866

Significant Accounting Polici_5

Significant Accounting Policies (Details) - Schedule of asset and liabilities measured at fair value - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Assets
Marketable securities - mutual funds	$ 2,063,236	$ 803,664
Quoted prices in active markets (Level 1) [Member]
Assets
Marketable securities - mutual funds	2,063,236	803,664
Significant other observable inputs (Level 2) [Member]
Assets
Marketable securities - mutual funds
Significant unobservable inputs (Level 3) [Member]
Assets
Marketable securities - mutual funds

Significant Accounting Polici_6

Significant Accounting Policies (Details) - Schedule of anti-dilutive impact on net loss - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,934,360	1,570,892
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,235,266	1,032,692
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	689,212	525,000
Non-vested restricted stock awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	9,882	13,200

License Agreements (Details)

License Agreements (Details) - USD ($)

May 14, 2020

Jun. 01, 2019

Mar. 08, 2019

Jul. 30, 2020

May 31, 2020

Feb. 27, 2020

Nov. 20, 2019

Aug. 19, 2019

Mar. 31, 2019

May 18, 2018

Dec. 31, 2020

Feb. 01, 2020

License Agreements (Details) [Line Items]

License maintenance fee

$ 5,000

Annual royalty fee

5,000

Patents paid

15,000

License initiation fee

10,000

Option exercise fee

10,000

Commercial evaluation sublicense and option agreement description

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

Accrued license payment

$ 5,000

Sublicense Agreement, description

The Isoprene Note matures on September 10, 2022 and accrues interest at a rate equal to the lower of: (i) the highest lawful rate permitted under applicable law and (ii) 6% per annum. The Isoprene Note may not be prepaid without the prior written consent of the Company. In the event a Qualified Financing (as defined below) occurs before the Isoprene Note is repaid in full or the conversion of such note pursuant to a Change of Control (as defined in the Isoprene Note) transaction, the Isoprene Note may be converted into such number of convertible preferred stock issued in the Qualified Financing equal to the balance of such note divided by the Capped Conversion Price (as defined below). “Qualified Financing” means the first sale of Isoprene’s convertible preferred in a private financing that results in gross proceeds of at least $5 million.

University of Cincinnati [Member]

License Agreements (Details) [Line Items]

License maintenance fee

$ 2,500

Annual royalty fee

5,000

Patents paid

2,000

Accrued license payment

17,500

George Washington University [Member]

License Agreements (Details) [Line Items]

Sponsored research agreement, description

Pursuant to the terms of the Sponsored Research Agreement, GW granted the Company a non-exclusive license to certain of GW’s intellectual property. The Company has agreed to pay GW for all costs incurred in connection with the research; provided, however, such costs shall not exceed approximately $0.5 million

License initiation fee

$ 10,000

Licensed product, description

(i) $75,000 per year for the development and commercialization of the GW 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 GW 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. The Company shall also pay GW 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 GW, on a quarterly basis, for all costs and expenses related to the Licensed Patents.

Warrants granted expense

134,000

University of Maryland and Isoprene Pharmaceuticals, Inc [Member]

License Agreements (Details) [Line Items]

License initiation fee

$ 30,000

10,000

Option exercise fee

20,000

Initial option and materials access fee

$ 10,000

Accrued license payment

5,000

North Carolina State University [Member]

License Agreements (Details) [Line Items]

License initiation fee

$ 25,000

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

License Agreements (Details) [Line Items]

Annual royalty fee

0

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

License Agreements (Details) [Line Items]

Milestone payments

585,000

Annual royalty fee

$ 50,000

U.S. Army Medical Research and Development Command [Member]

License Agreements (Details) [Line Items]

Accrued license payment

2,000

Virginia Commonwealth University [Member]

License Agreements (Details) [Line Items]

Signing fee

$ 50,000

Annual minimum payment

$ 285,000

Annual minimum payment term

5 years

Annual maintenance fees

$ 30,000

Assignment Agreement [Member]

License Agreements (Details) [Line Items]

Milestone payments

$ 3,500,000

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

License Agreements (Details) [Line Items]

Patents paid

$ 2,500

Isoprene Sublicense Agreement [Member]

License Agreements (Details) [Line Items]

Licensed product, description

Pursuant to the Isoprene Sublicense Agreement, the Company shall pay Isoprene, among other things, (i) a license fee, (ii) a royalty rate at a middle single digit percentage, (iii) milestone payments of up to $1,375,000 and (iv) revenue interest at a low single digit percentage based on the net revenue of covered products sold by Isoprene during the Isoprene Term.

License agreement [Member] | University of Cincinnati [Member]

License Agreements (Details) [Line Items]

Milestone payments

$ 120,000

Annual royalty fee

5,000

Annual license fee

$ 5,000

Expires license term

10 years

Chelexa BioSciences, Inc. [Member] | University of Cincinnati [Member]

License Agreements (Details) [Line Items]

Milestone payments

$ 6,000

Isoprene-Hoth Option [Member]

License Agreements (Details) [Line Items]

Option exercise fee

$ 20,000

UMD-Hoth Option [Member]

License Agreements (Details) [Line Items]

Option exercise fee

$ 20,000

Zylö Therapeutics Inc. [Member]

License Agreements (Details) [Line Items]

Sublicense Agreement, description

upfront license fee of $50,000 and is required to pay Zylö (i) 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 (ii) total milestone payments of up to $13.5 million. In addition, in connection with the Company’s March 2020 underwritten public offering of shares of its common stock, on May 4, 2020, the Company purchased 30,000 shares of Zylö’s Class B common stock for $60,000.

License Agreements (Details) -

License Agreements (Details) - Schedule of research and development expenses for licenses acquired - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	$ 607,562	$ 95,000
Chelexa Biosciences, Inc. and the University of Cincinnati [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	10,000
The George Washington University [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	169,012	2,500
University of Maryland and Isoprene Pharmaceuticals, Inc. [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	35,000	10,000
North Carolina State University [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total		25,000
University of Cincinnati [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	26,550	7,500
U.S. Army Medical Research and Development Command [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	2,000
Virginia Commonwealth University [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	365,000
Zylo Therapeutics Inc [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total		$ 50,000

Note Receivable (Details)

Note Receivable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Sep. 10, 2020
Premiums Receivable Disclosure [Abstract]
Convertible promissory note		$ 50,000
Sublicense agreement, description	The Isoprene Note matures on September 10, 2022 and accrues interest at a rate equal to the lower of: (i) the highest lawful rate permitted under applicable law and (ii) 6% per annum. The Isoprene Note may not be prepaid without the prior written consent of the Company. In the event a Qualified Financing (as defined below) occurs before the Isoprene Note is repaid in full or the conversion of such note pursuant to a Change of Control (as defined in the Isoprene Note) transaction, the Isoprene Note may be converted into such number of convertible preferred stock issued in the Qualified Financing equal to the balance of such note divided by the Capped Conversion Price (as defined below). “Qualified Financing” means the first sale of Isoprene’s convertible preferred in a private financing that results in gross proceeds of at least $5 million.
Conversion price, description	“Capped Conversion Price” means the lesser of (i) the per share or unit price in the Qualified Financing and (ii) an amount determined by dividing (A) $15 million by (B) the fully diluted capitalization Isoprene immediately prior to the conversion of the Isoprene Note.

Related Party (Details)

Related Party (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party (Details) [Line Items]
Purchase of shares (in Shares)	35,000
Director [Member]
Related Party (Details) [Line Items]
Received in cash compensation	$ 22,500	$ 30,000
Board [Member]
Related Party (Details) [Line Items]
Received in cash compensation		5,000
AIkido Pharma Inc. [Member]
Related Party (Details) [Line Items]
Purchase of shares (in Shares)	35,000
AIkido Pharma Inc. [Member] | Director [Member]
Related Party (Details) [Line Items]
Received in cash compensation	$ 8,736	$ 30,000

Investments in Marketable Sec_3

Investments in Marketable Securities (Details) - Schedule of consolidated statements of operations - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of consolidated statements of operations [Abstract]
Unrealized gain	$ 50,553	$ 3,664
Realized loss	(1,177)
Dividend income	31,152	6,947
Interest income	8	25
Other income, net	$ 80,536	$ 10,636

Investment in HaloVax (Details)

Investment in HaloVax (Details) - USD ($)	May 28, 2020	May 27, 2020	May 23, 2020
Investment In Halovax [Abstract]
Investment purchase percentage	$ 0.01	$ 0.25	$ 0.05
Outstanding membership interests	$ 100,000	3,000,000	$ 250,000
Membership interests inclusive		$ 250,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)

Aug. 10, 2020

Jun. 03, 2020

Mar. 06, 2020

Feb. 05, 2020

Jan. 15, 2020

May 21, 2020

May 18, 2020

Mar. 26, 2020

Mar. 24, 2020

Feb. 27, 2020

Aug. 16, 2019

Apr. 16, 2019

Dec. 31, 2020

Dec. 31, 2019

Feb. 15, 2020

May 27, 2020

May 04, 2018

Stockholders' Equity (Details) [Line Items]

Preferred stock, shares authorized

5,000,000

5,000,000

Net proceeds received (in Dollars)

$ 1,600,000

Issuance of shares

15,000

407,424

Percentage of common stock outstanding

4.99%

Beneficial ownership percentage

9.99%

Common stock issued, description

For the 2019 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%.

Stock-based compensation expense (in Dollars)

$ 700,000

$ 2,500,000

Convertible Preferred Stock [Member]

Stockholders' Equity (Details) [Line Items]

Preferred stock, shares authorized

10,000,000

Preferred stock designated

5,000,000

Preferred stock converted into common stock

3,102,480

Common Stock [Member]

Stockholders' Equity (Details) [Line Items]

Issuance of shares of common stock, shares

1,449,275

407,424

Common stock upon exercise of warrants issued

12,500

25,000

12,500

6,250

Gross proceeds (in Dollars)

$ 12,500

$ 25,000

$ 12,500

$ 6,250

Issuance an aggregate of share

9,984

Warrant [Member]

Stockholders' Equity (Details) [Line Items]

Warrants to purchase

72,464

90,909

Warrants exercise price (in Dollars per share)

$ 2.76

$ 4.35

Warrants to purchase of common stock shares

72,463

22,988

Warrants, description

The August Warrants vest as follows: 20% on the August Warrant Date of Issuance and the balance, or 80% of the August Warrants, shall vest in four equal annual installments of 20% on each anniversary of the August Warrant Date of Issuance.

The February Warrants vest as follows: 20% on the February Warrant Date of Issuance and the balance, or 80% of the February Warrants, vest in four equal annual installments of 20% on each anniversary of the February Warrant Date of Issuance.

2018 Equity Incentive Plan [Member]

Stockholders' Equity (Details) [Line Items]

Common stock reserved for issuance

1,000,000

Investor [Member]

Stockholders' Equity (Details) [Line Items]

Offering price per share (in Dollars per share)

$ 5

Gross proceeds (in Dollars)

$ 2,037,120

Investor [Member] | Warrant [Member]

Stockholders' Equity (Details) [Line Items]

Warrants exercise price (in Dollars per share)

$ 8

Initial Public Offering [Member]

Stockholders' Equity (Details) [Line Items]

Shares of common stock

1,250,000

Offering price per share (in Dollars per share)

$ 5.60

Net proceeds received (in Dollars)

$ 5,800,000

Public Offering of Securities [Member]

Stockholders' Equity (Details) [Line Items]

Net proceeds received (in Dollars)

$ 4,500,000

$ 4,200,000

Underwritten public offering (in Dollars)

$ 1,818,182

$ 1,449,275

Public offering price (in Dollars per share)

$ 2.75

$ 3.45

Warrants to purchase

72,464

90,909

Private Placement of Securities, description

The warrants are exercisable for a period of five years from the UA Effective Date at a price per share equal to $4.14, subject to adjustment, and may be exercised on a cashless basis. The Company reimbursed Laidlaw for certain of its out-of-pocket expenses incurred in connection with the offering.

Warrants term

5 years

Warrant exercisable price (in Dollars per share)

$ 2.75

Placement Agent Warrants [Member]

Stockholders' Equity (Details) [Line Items]

Warrants term

5 years

Warrants to purchase of common stock shares

61,113

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

Stockholders' Equity (Details) [Line Items]

Warrants exercise price (in Dollars per share)

$ 5

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

Stockholders' Equity (Details) [Line Items]

Unrecognized stock-based compensation expense (in Dollars)

$ 9,000

Director [Member]

Stockholders' Equity (Details) [Line Items]

Weighted average remaining contractual terms of unvested restricted stock

1 year 328 days

Initial Public Offering [Member]

Stockholders' Equity (Details) [Line Items]

Issuance of shares of common stock, shares

1,250,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Schedule of restricted stock awards activities under the Company's 2018 Equity Incentive Plan - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of restricted stock awards activities under the Company's 2018 Equity Incentive Plan [Abstract]
Number of Units, Nonvested Beginning Balance	13,200	21,530
Weighted Average Grant Day Fair Value, Nonvested Beginning balance	$ 0.25	$ 0.25
Number of Units, Granted	6,666	40,000
Weighted Average Grant Day Fair Value, Granted	$ 3	$ 5.11
Number of Units, Vested	(9,984)	(48,330)
Weighted Average Grant Day Fair Value, Vested	$ 0.49	$ 3.97
Number of Units, Nonvested Ending Balance	9,882	13,200
Weighted Average Grant Day Fair Value, Nonvested Ending balance	$ 1.86	$ 0.25

Stockholders' Equity (Details_2

Stockholders' Equity (Details) - Schedule of fair value of options granted - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stockholders' Equity (Details) - Schedule of fair value of options granted [Line Items]
Risk-free rate of interest	0.29%
Minimum [Member]
Stockholders' Equity (Details) - Schedule of fair value of options granted [Line Items]
Exercise price (in Dollars per share)	$ 2.54	$ 5.26
Term (years)	9 years 189 days	4 years 65 days
Expected stock price volatility	114.20%	111.20%
Risk-free rate of interest		1.75%
Maximum [Member]
Stockholders' Equity (Details) - Schedule of fair value of options granted [Line Items]
Exercise price (in Dollars per share)	$ 3.05	$ 5.88
Term (years)	9 years 204 days	9 years 357 days
Expected stock price volatility	114.50%	112.10%
Risk-free rate of interest		2.52%

Stockholders' Equity (Details_3

Stockholders' Equity (Details) - Schedule of stock option plan	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Schedule of stock option plan [Abstract]
Number of Shares, Outstanding Beginning Balance | shares	525,000
Weighted Average Exercise Price, Outstanding Beginning Balance | $ / shares	$ 5.32
Total Intrinsic Value, Outstanding Beginning Balance | $	$ 457,250
Weighted Average Remaining Contractual Life, Outstanding Beginning Balance	9 years 146 days
Number of Shares, Ending Balance | shares	689,212
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 4.52
Total Intrinsic Value, Ending Balance | $
Weighted Average Remaining Contractual Life, Ending Balance	8 years 292 days
Number of Shares, Options vested and exercisable | shares	689,212
Weighted Average Exercise Price, Options vested and exercisable | $ / shares	$ 4.52
Total Intrinsic Value, Options vested and exercisable | $
Weighted Average Remaining Contractual Life, Options vested and exercisable	8 years 292 days
Number of Shares, Employee options issued | shares	200,000
Weighted Average Exercise Price, Employee options issued | $ / shares	$ 3.05
Total Intrinsic Value, Employee options issued | $
Weighted Average Remaining Contractual Life, Employee options issued	8 years 292 days
Number of Shares, Non - employee options issued | shares	49,212
Weighted Average Exercise Price, Non - employee options issued | $ / shares	$ 2.54
Total Intrinsic Value, Non - employee options issued | $
Weighted Average Remaining Contractual Life, Non - employee options issued	9 years 6 months
Number of Shares, Forfeited | shares	(85,000)
Weighted Average Exercise Price, Forfeited | $ / shares
Total Intrinsic Value, Forfeited | $
Weighted Average Remaining Contractual Life, Forfeited

Stockholders' Equity (Details_4

Stockholders' Equity (Details) - Schedule of stock-based compensation expense - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation	$ 737,746	$ 2,495,219
Restricted Stock Awards [Member] | Employee stock option awards [Member]
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation	487,963	2,195,812
Restricted Stock Awards [Member] | Non-employee stock option awards [Member]
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation	100,104
Restricted Stock Awards [Member] | Employee restricted stock awards [Member]
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation	15,510	10,252
Restricted Stock Awards [Member] | Non-employee restricted stock awards [Member]
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation		204,550
Restricted Stock Awards [Member] | Non-employee warrant awards [Member]
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation	$ 134,169	$ 84,605

Stockholders' Equity (Details_5

Stockholders' Equity (Details) - Schedule of warrant activity - Warrants [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stockholders' Equity (Details) - Schedule of warrant activity [Line Items]
Number of Warrants, Outstanding	1,032,692	991,367
Weighted Average Exercise Price, Outstanding	$ 2.91	$ 1
Total Intrinsic Value, Outstanding	$ 3,725,745
Weighted Average Remaining Contractual Life (in years),Outstanding		5 years 328 days
Number of Warrants, Outstanding	1,235,266	1,032,692
Weighted Average Exercise Price, Outstanding	$ 3.07	$ 2.91
Total Intrinsic Value, Outstanding	$ 696,334	$ 3,725,745
Weighted Average Remaining Contractual Life (in years), Outstanding	3 years 146 days	4 years 73 days
Number of Warrants, Warrants exercisable	1,158,906
Weighted Average Exercise Price, Warrants exercisable	$ 3.07
Total Intrinsic Value, Warrants exercisable	$ 696,334
Weighted Average Remaining Contractual Life (in years), Warrants exercisable	3 years 6 months
Number of Warrants, Issued	258,824	331,155
Weighted Average Exercise Price, Issued	$ 3.28	$ 6.90
Total Intrinsic Value, Issued		$ 100,938
Weighted Average Remaining Contractual Life (in years), Issued	4 years 328 days	4 years 36 days
Number of Warrants, Exercised	(56,250)	(289,830)
Weighted Average Exercise Price, Exercised	$ 1	$ 0.94
Total Intrinsic Value, Exercised
Weighted Average Remaining Contractual Life (in years), Exercised

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Leases office space	$ 2,500
Rent expense	$ 25,000	$ 32,000

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	Jan. 01, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Net operating loss carryforwards		$ 15.9
Federal net operating losses carried forward to future		$1.5
Description of future tax expire		carried forward to future tax years and expire in 2037.
Federal net operating losses carried forward			$ 14.4	$ 14.4
Annual taxable income	80.00%

Income taxes (Details) - Schedu

Income taxes (Details) - Schedule of components of the provision for taxes - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current
US Federal
US State
Total current provision
Deferred
US Federal	1,489,095	1,686,735
US State
Total deferred benefit	1,489,095	1,686,735
Change in valuation allowance	(1,489,095)	(1,686,735)
Total provision for income taxes

Income taxes (Details) - Sche_2

Income taxes (Details) - Schedule of deferred tax assets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net operating loss carryforward	$ 3,336,268	$ 1,975,501
License acquired	139,487	133,182
Stock compensation	549,387	427,558
Total deferred income tax assets	4,025,142	2,536,241
Deferred income tax assets liabilities:
Prepaids
Depreciation fixed assets	63	(132)
Total deferred income tax liabilities	63	(132)
Net deferred income tax assets	4,025,205	2,536,109
Valuation allowance	(4,025,205)	(2,536,109)
Deferred tax asset, net of allowance

Income taxes (Details) - Sche_3

Income taxes (Details) - Schedule of statutory income tax rates	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of statutory income tax rates [Abstract]
Statutory federal income tax rate	(21.00%)	(21.00%)
State taxes, net of federal tax benefit	0.00%	0.00%
Return to provision	0.00%	(1.30%)
Other	0.30%	0.40%
Change in valuation allowance	20.70%	22.00%
Income taxes provision (benefit)

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Millions	Mar. 08, 2021	Jan. 05, 2021	Jan. 01, 2021
Subsequent Events (Details) [Line Items]
Purchase an aggregate of share		2,475,248
Warrant purchase description	The combined purchase price for each share of common stock and accompanying warrant was $1.975.	The combined purchase price for each share of common stock and accompanying warrant to purchase 0.5 of a share of common stock was $2.02.
Warrants exercise price (in Dollars per share)	$ 2.25	$ 2.25
Number of common stock and warrants sold	6,826,962
Term of warrant exercisable	5 years
Benchmark Company, LLC [Member]
Subsequent Events (Details) [Line Items]
Warrant term		5 years
Warrants exercise price (in Dollars per share)		$ 2.25
Purchase of warrants		185,644
2018 Equity Incentive Plan [Member]
Subsequent Events (Details) [Line Items]
Issuance of common stock reserved			671,926
Private Placement [Member]
Subsequent Events (Details) [Line Items]
Aggregate gross proceeds (in Dollars)	$ 15	$ 5
Number of shares of common stock to purchase	7,594,937
Common Stock Warrants [Member]
Subsequent Events (Details) [Line Items]
Number of shares of common stock to purchase	767,975
Pre-Funded Warrant [Member]
Subsequent Events (Details) [Line Items]
Warrants exercise price (in Dollars per share)	$ 0.001
H.C. Wainwright & Co., LLC Warrants [Member]
Subsequent Events (Details) [Line Items]
Warrants exercise price (in Dollars per share)	$ 2.4688
Number of shares of common stock to purchase	379,747
Term of warrant exercisable	3 years
Common Stock [Member] | 2018 Equity Incentive Plan [Member]
Subsequent Events (Details) [Line Items]
Issuance of common stock reserved			1,671,926
Warrant [Member]
Subsequent Events (Details) [Line Items]
Purchase of warrants		1,237,624
Warrant term		5 years