Hoth Therapeutics (HOTH) 10-Q 13 May 21 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 12, 2021
Document Information Line Items
Entity Registrant Name	Hoth Therapeutics, Inc.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		23,871,671
Amendment Flag	false
Entity Central Index Key	0001711786
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
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

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash	$ 19,302,141	$ 2,629,670
Marketable equity securities, at fair value	1,051,881	2,063,236
Prepaid expenses	177,856	89,836
Total current assets	20,531,878	4,782,742
Note receivable	50,000	50,000
Investment in joint venture	410,000	410,000
Total assets	20,991,878	5,242,742
Current liabilities
Accounts payable	581,221	129,469
Accrued expenses	130,358	128,180
Accrued license fee - current portion	47,500	54,500
Total current liabilities	759,079	312,149
Accrued license fee	285,000	285,000
Total liabilities	1,044,079	597,149
Commitments and contingencies
Stockholders’ equity
Preferred stock value
Common stock, $0.0001 par value, 75,000,000 shares authorized, 23,102,124 and 13,438,535 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	2,310	1,343
Additional paid-in-capital	43,629,508	24,073,059
Accumulated deficit	(23,675,142)	(19,413,458)
Accumulated other comprehensive loss	(8,877)	(15,351)
Total stockholders’ equity	19,947,799	4,645,593
Total liabilities and stockholders’ equity	20,991,878	5,242,742
Series A Convertible Preferred Stock
Stockholders’ equity
Preferred stock value

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
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	23,102,124	13,438,535
Common stock, shares outstanding	23,102,124	13,438,535
Series A Convertible Preferred Stock
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,897,250	1,897,250
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating costs and expenses
Research and development	$ 1,533,105	$ 647,228
Research and development - licenses acquired (including stock-based compensation)	93,747	39,832
Compensation and related expenses (including stock-based compensation)	1,652,648	165,697
Professional fees (including stock-based compensation)	801,268	806,034
Rent	7,439	8,417
Other expenses	180,903	149,242
Total operating expenses	4,269,110	1,816,450
Loss from operations	(4,269,110)	(1,816,450)
Other income (expenses)
Other income (expenses), net	7,426	(10,126)
Total other income (expenses)	7,426	(10,126)
Net loss	(4,261,684)	(1,826,576)
Other comprehensive loss
Foreign currency translation adjustment	(6,474)
Total comprehensive loss	$ (4,268,158)	$ (1,826,576)
Net loss per share applicable to common stockholders - basic and diluted (in Dollars per share)	$ (0.24)	$ (0.18)
Weighted average number of common shares outstanding, basic and diluted (in Shares)	17,677,443	10,251,068

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Cumulative Translation Adjustment	Total
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
Cancellation of common stock	$ (2)	2
Cancellation of common stock (in Shares)	(15,000)
Warrant exercise	$ 4	37,496			37,500
Warrant exercise (in Shares)	37,500
Stock-based compensation		23,697			23,697
Stock-based compensation (in Shares)	2,082
Net loss			(1,826,576)		(1,826,576)
Balance at Mar. 31, 2020	$ 1,159	18,865,444	(14,042,218)		4,824,385
Balance (in Shares) at Mar. 31, 2020	11,593,701
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
Issuance of common stock, common stock warrants and prefunded warrants	$ 683	13,506,949			13,507,632
Issuance of common stock, common stock warrants and prefunded warrants (in Shares)	6,826,962
Issuance of common stock and warrants	$ 248	4,564,753			4,565,001
Issuance of common stock and warrants (in Shares)	2,475,248
Warrant exercise	$ 36	358,709			358,745
Warrant exercise (in Shares)	358,745
Stock-based compensation		1,126,038			1,126,038
Stock-based compensation (in Shares)	2,634
Cumulative translation adjustment				6,474	6,474
Net loss			(4,261,684)		(4,261,684)
Balance at Mar. 31, 2021	$ 2,310	$ 43,629,508	$ (23,675,142)	$ (8,877)	$ 19,947,799
Balance (in Shares) at Mar. 31, 2021	23,102,124

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) (Parentheticals) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Issuance of common stock, common stock warrants and prefunded warrants	$ 1,491,600
Issuance of common stock and warrants	$ 435,000	$ 806,243

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net loss	$ (4,261,684)	$ (1,826,576)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense		305
Research and development-acquired license, expensed	62,545	39,832
Stock-based compensation	1,126,038	23,697
Realized gain on marketable securities	(33,330)	(4,892)
Unrealized loss on marketable securities	17,930	17,564
Changes in assets and liabilities:
Prepaid expenses	(88,020)	53,526
Accounts payable	453,930	113,675
Net cash used in operating activities	(2,722,591)	(1,582,869)
Cash flows from investing activities
Purchase of investments in joint venture		(250,000)
Purchase of research and development licenses	(69,545)	(39,832)
Purchase of marketable securities	1,026,755
Sale of marketable securities		300,000
Net cash provided by investing activities	957,210	10,168
Cash flows from financing activities
Proceeds from issuance common stock, common stock warrants and prefunded warrants, net of offering cost	13,507,632
Proceeds from issuance common stock and warrants, net of offering cost	4,565,001	4,193,756
Proceeds from exercise of warrants	358,745	37,500
Net cash provided by financing activities	18,431,378	4,231,256
Effect of exchange rate changes on cash and cash equivalents	6,474
Net increase in cash	16,672,471	2,658,555
Cash and restricted cash, beginning of period	2,629,670	1,890,866
Cash and restricted cash, end of period	19,302,141	4,549,421
Non-cash investing and financing activities
Cancellation and retirement of common stock		$ 2

Organization and Description of

Organization and Description of Business Operations	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
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 also potentially developing a COVID-19 treatment as well as a diagnostic device for the detection of viruses 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 may 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 of these financial statements. 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	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Significant accounting policies	Note 2-Significant accounting policies Basis of Presentation and Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. These unaudited interim condensed consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission (the “SEC”) on March 16, 2021. The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company’s wholly-owned subsidiary, Hoth Therapeutics Australia Pty Ltd, which was incorporated under the laws of the State of Victoria in Australia on June 5, 2019. All intercompany balances and transactions have been eliminated in consolidation. Use of estimates The preparation of condensed 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 condensed 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. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 as filed with the SEC on March 16, 2021. Restricted Cash The following table provides a summary of the Company’s cash and restricted cash total as presented in the condensed consolidated statements of cash flows for the three months ended March 31, 2020: March 31, Cash $ 4,349,421 Restricted cash 200,000 Total cash and restricted cash $ 4,549,421 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 had 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. Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, “ Fair Value Measurements 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 March 31, 2021 and December 31, 2020: Fair value measured at March 31, 2021 Total at Quoted Significant other Significant 2021 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 1,051,881 $ 1,051,881 $ - $ - Fair value measured at December 31, 2020 Total at Quoted Significant other Significant 2020 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 2,063,236 $ 2,063,236 $ - $ - Net loss per share Net loss per share is computed by dividing net loss by the weighted average number of shares 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 Potentially dilutive securities 2021 2020 Warrants 11,042,448 1,090,644 Options 1,321,212 525,000 Non-vested restricted stock awards 7,248 11,118 Total 12,370,908 1,626,762 Recent accounting pronouncements In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if currently adopted, would have an effect on the Company’s condensed consolidated financial statements.

License Agreements

License Agreements	3 Months Ended
	Mar. 31, 2021
License Agreement [Abstract]
License agreements	Note 3-License agreements The following summarizes the Company’s research and development expenses for licenses acquired (including stock-based compensation) during three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 The George Washington University 31,202 32,332 University of Maryland and Isoprene Pharmaceuticals, Inc. 3,933 - North Carolina State University 48,584 - University of Cincinnati 10,028 7,500 $ 93,747 $ 39,832 The George Washington University During the three months ended March 31, 2021, the Company recorded an expense of approximately $31,000 related to warrants granted to The George Washington University pursuant to a patent license agreement. University of Maryland and Isoprene Pharmaceuticals, Inc. During the three months ended March 31, 2021, the Company paid approximately $4,000 for patent expense reimbursement. North Carolina State University During the three months ended March 31, 2021, the Company paid $30,000 for a license fee and approximately $19,000 for patent expense reimbursement. University of Cincinnati During the three months ended March 31, 2021, the Company paid $5,000 for the yearly minimum annual royalty fee and approximately $5,000 for patent expense reimbursement. As of March 31, 2021, the Company accrued $17,500 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. On April 28, 2021, the Company and VCU entered into an amendment to the VCU Sponsored Project Agreement pursuant to which the term of the VCU Sponsored Project Agreement was extended such that it shall terminate on November 9, 2021, unless terminated earlier pursuant to the terms thereof. As of March 31, 2021, the Company accrued $285,000 for five years of annual minimum payments and $30,000 for annual maintenance fees.

Note Receivable

Note Receivable	3 Months Ended
	Mar. 31, 2021
Premiums Receivable Disclosure [Abstract]
Note Receivable	Note 4-Note Receivable Pursuant to the sublicense agreement dated July 30, 2020 by and between the Company and Isoprene Pharmaceuticals, Inc. (“Isoprene”), 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 stock 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 of 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.

Investments in Marketable Secur

Investments in Marketable Securities	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investments in Marketable Securities	Note 5-Investments in Marketable Securities The realized gain or loss, unrealized gain or loss, and dividend income related to marketable securities for the three months ended March 31, 2021 and 2020, which are recorded as a component of other income (expenses) on the condensed consolidated statements of operations and comprehensive loss, are as follows: Three Months Ended 2021 2020 Unrealized gain $ (17,930 ) $ (17,564 ) Realized loss 33,330 4,892 Dividend income 4,010 3,194 Interest income - 6 $ 19,410 $ (9,471 )

Investment in HaloVax

Investment in HaloVax	3 Months Ended
	Mar. 31, 2021
Investment In Halovax [Abstract]
Investment in HaloVax	Note 6-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 March 31, 2021.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 7-Stockholders’ Equity Common Stock Securities Purchase Agreements On January 5, 2021, the Company entered into a securities purchase agreement with certain accredited investors pursuant to which the Company offered and sold to the investors 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 net proceeds to the Company of $4.6 million, after deducting estimated offering expenses payable by the Company. The combined purchase price for each share of common stock and accompanying warrant to purchase one half of a share of common stock was $2.02. The closing of the offering occurred on January 7, 2021. Each warrant is exercisable for a period of five years from the issuance date at an exercise price of $2.25 per share, subject to adjustment, and may be exercised on a cashless basis. In addition, pursuant to the terms of the offering, the Company issued The Benchmark Company, LLC (“Benchmark”) warrants to purchase up to 185,644 shares of the Company’s 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, and may be exercised on a cashless basis. 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 investors 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 shares of common stock in a private placement for aggregate net proceeds to the Company of $13.5 million, after deducting estimated offering expenses payable by the Company. The combined purchase price for each share of common stock and accompanying warrant was $1.975. The closing of the offering occurred on March 10, 2021. Each Common Stock Warrant is exercisable for a period of three years from the issuance date at an exercise price of $1.86 per share, subject to adjustment, and may be exercised on a cashless basis. Each Pre-Funded Warrant is exercisable until exercised in full at an exercise price of $0.001 per share and may be exercised by means of a cashless exercise. In addition, pursuant to the terms of the offering, the Company issued H.C. Wainwright & Co., LLC warrants (“Wainwright Warrants”) to purchase up to 379,747 shares of the Company’s common stock. The Wainwright Warrants are exercisable for a period of three years from the issuance date at an exercise price of $2.4688 per share, subject to adjustment, and may be exercised by on a cashless basis. 2018 Equity Incentive Plan The compensation committee of the board of directors increased the number of shares reserved pursuant to the Company’s 2018 Equity Incentive Plan (“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. Restricted Stock Awards A summary of the Company’s restricted stock awards granted under the 2018 Plan during the three months ended March 31, 2021 is as follows: Number of Restricted Stock Awards Weighted Average Grant Day Fair Value Nonvested at December 31, 2020 9,882 $ 1.86 Vested (2,634 ) 0.83 Nonvested at March 31, 2021 7,248 $ 1.94 As of March 31, 2021, approximately $6,000 of unrecognized stock-based compensation expense is related to restricted stock awards. The weighted average remaining contractual terms of unvested restricted stock awards is approximately 1.94 years at March 31, 2021. Stock Options A summary of option activity under the Company’s stock option plan for three months ended March 31, 2021 is presented below: Number of Weighted Total Weighted (in years) Outstanding as of December 31, 2020 689,212 $ 4.52 $ - 8.8 Employee options issued 632,000 2.11 - 9.8 Outstanding as of March 31, 2021 1,321,212 $ 3.37 $ - 9.1 Options vested and exercisable 1,321,212 $ 3.37 $ - 9.1 Stock Based Compensation Stock-based compensation expense for the three months ended March 31, 2021 and 2020 was as follows: Three Months Ended 2021 2020 Employee stock option awards $ 1,092,429 $ - Employee restricted stock awards 2,407 1,365 Non-employee restricted stock awards - 22,332 Non-employee stock warrant awards 31,202 84,605 $ 1,126,038 $ 108,302 Employee related stock-based compensation is recognized as “compensation and related expenses” and non-employee related stock-based compensation is recognized as “professional fees” or “research and development - licenses acquired” in the condensed consolidated statements of operations and comprehensive loss. Warrants A summary of warrant activity for the three months ended March 31, 2021 is as follows: Number of Weighted Total Weighted Outstanding as of December 31, 2020 1,235,266 $ 3.07 $ 696,334 3.4 Issued 10,165,927 1.80 - 6.1 Exercised (358,745 ) 1.00 - - Outstanding as of March 31, 2021 11,042,448 $ 1.97 $ 2,641,375 3.0 Warrants exercisable as of March 31, 2021 10,970,686 $ 1.96 $ 2,641,375 3.0 The Company has determined that the warrants should be accounted as a component of stockholders’ equity.

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 8-Commitments and contingencies Office lease The Company leases office space for approximately $2,500 a month. Rent expense for the three months ended March 31, 2021 and 2020 was approximately $7,000 and $8,000, 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.

Risk and Uncertainties

Risk and Uncertainties	3 Months Ended
	Mar. 31, 2021
Risks and Uncertainties [Abstract]
Risk and Uncertainties	Note 9-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 U.S. Food and Drug Administration 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 negatively impact the Company’s ability to access capital on favorable terms, if at all. 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	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 10-Subsequent events The Company evaluates events that have occurred after the balance sheet date through the date for which the condensed consolidated financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements other than disclosed.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. These unaudited interim condensed consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission (the “SEC”) on March 16, 2021. The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company’s wholly-owned subsidiary, Hoth Therapeutics Australia Pty Ltd, which was incorporated under the laws of the State of Victoria in Australia on June 5, 2019. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates	Use of estimates The preparation of condensed 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 condensed 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.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 as filed with the SEC on March 16, 2021.
Restricted Cash	Restricted Cash The following table provides a summary of the Company’s cash and restricted cash total as presented in the condensed consolidated statements of cash flows for the three months ended March 31, 2020: March 31, Cash $ 4,349,421 Restricted cash 200,000 Total cash and restricted cash $ 4,549,421 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 had 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.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, “ Fair Value Measurements
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 March 31, 2021 and December 31, 2020: Fair value measured at March 31, 2021 Total at Quoted Significant other Significant 2021 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 1,051,881 $ 1,051,881 $ - $ - Fair value measured at December 31, 2020 Total at Quoted Significant other Significant 2020 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 2,063,236 $ 2,063,236 $ - $ -
Net loss per share	Net loss per share Net loss per share is computed by dividing net loss by the weighted average number of shares 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 Potentially dilutive securities 2021 2020 Warrants 11,042,448 1,090,644 Options 1,321,212 525,000 Non-vested restricted stock awards 7,248 11,118 Total 12,370,908 1,626,762
Recent accounting pronouncements	Recent accounting pronouncements In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if currently adopted, would have an effect on the Company’s condensed consolidated financial statements.

Significant Accounting Polici_2

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of cash and restricted cash total as presented in the Condensed consolidated statements of cash flows	March 31, Cash $ 4,349,421 Restricted cash 200,000 Total cash and restricted cash $ 4,549,421
Schedule of assets and liabilities measured at fair value	Fair value measured at March 31, 2021 Total at Quoted Significant other Significant 2021 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 1,051,881 $ 1,051,881 $ - $ - Fair value measured at December 31, 2020 Total at Quoted Significant other Significant 2020 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 2,063,236 $ 2,063,236 $ - $ -
Schedule of anti-dilutive impact on net loss	As of Potentially dilutive securities 2021 2020 Warrants 11,042,448 1,090,644 Options 1,321,212 525,000 Non-vested restricted stock awards 7,248 11,118 Total 12,370,908 1,626,762

License Agreements (Tables)

License Agreements (Tables)	3 Months Ended
	Mar. 31, 2021
License Agreement [Abstract]
Schedule of research and development expenses for licenses acquired	Three Months Ended 2021 2020 The George Washington University 31,202 32,332 University of Maryland and Isoprene Pharmaceuticals, Inc. 3,933 - North Carolina State University 48,584 - University of Cincinnati 10,028 7,500 $ 93,747 $ 39,832

Investments in Marketable Sec_2

Investments in Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of condensed consolidated statements of operations and comprehensive loss	Three Months Ended 2021 2020 Unrealized gain $ (17,930 ) $ (17,564 ) Realized loss 33,330 4,892 Dividend income 4,010 3,194 Interest income - 6 $ 19,410 $ (9,471 )

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Schedule of stock option plan	Number of Restricted Stock Awards Weighted Average Grant Day Fair Value Nonvested at December 31, 2020 9,882 $ 1.86 Vested (2,634 ) 0.83 Nonvested at March 31, 2021 7,248 $ 1.94
Schedule of stock option plan	Number of Weighted Total Weighted (in years) Outstanding as of December 31, 2020 689,212 $ 4.52 $ - 8.8 Employee options issued 632,000 2.11 - 9.8 Outstanding as of March 31, 2021 1,321,212 $ 3.37 $ - 9.1 Options vested and exercisable 1,321,212 $ 3.37 $ - 9.1
Schedule of stock-based compensation expense	Three Months Ended 2021 2020 Employee stock option awards $ 1,092,429 $ - Employee restricted stock awards 2,407 1,365 Non-employee restricted stock awards - 22,332 Non-employee stock warrant awards 31,202 84,605 $ 1,126,038 $ 108,302
Schedule of warrant activity	Number of Weighted Total Weighted Outstanding as of December 31, 2020 1,235,266 $ 3.07 $ 696,334 3.4 Issued 10,165,927 1.80 - 6.1 Exercised (358,745 ) 1.00 - - Outstanding as of March 31, 2021 11,042,448 $ 1.97 $ 2,641,375 3.0 Warrants exercisable as of March 31, 2021 10,970,686 $ 1.96 $ 2,641,375 3.0

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($) $ in Millions	Mar. 31, 2021	May 29, 2020
Accounting Policies [Abstract]
Restricted cash escrow deposit	$ 0.2	$ 0.2

Significant Accounting Polici_4

Significant Accounting Policies (Details) - Schedule of cash and restricted cash total as presented in the Condensed consolidated statements of cash flows	Mar. 31, 2020USD ($)
Schedule of cash and restricted cash total as presented in the Condensed consolidated statements of cash flows [Abstract]
Cash	$ 4,349,421
Restricted cash	200,000
Total cash and restricted cash	$ 4,549,421

Significant Accounting Polici_5

Significant Accounting Policies (Details) - Schedule of assets and liabilities measured at fair value - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Assets
Marketable securities - mutual funds	$ 1,051,881	$ 2,063,236
Quoted prices in active markets (Level 1) [Member]
Assets
Marketable securities - mutual funds	1,051,881	2,063,236
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	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	12,370,908	1,626,762
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	11,042,448	1,090,644
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,321,212	525,000
Non-vested restricted stock awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	7,248	11,118

License Agreements (Details)

License Agreements (Details)	3 Months Ended
	Mar. 31, 2021USD ($)
The George Washington University [Member]
License Agreements (Details) [Line Items]
Warrants granted	$ 31,000
University of Maryland and Isoprene Pharmaceuticals, Inc. [Member]
License Agreements (Details) [Line Items]
Patent expense	4,000
North Carolina State University [Member]
License Agreements (Details) [Line Items]
Patent expense	19,000
License fee	30,000
University of Cincinnati [Member]
License Agreements (Details) [Line Items]
Patent expense	5,000
Annual royalty fee	5,000
Accrued license payment	17,500
Virginia Commonwealth University [Member]
License Agreements (Details) [Line Items]
Annual minimum payments	$ 285,000
Annual minimum payment term	5 years
Annual maintenance fees	$ 30,000

License Agreements (Details) -

License Agreements (Details) - Schedule of research and development expenses for licenses acquired - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	$ 93,747	$ 39,832
The George Washington University [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	31,202	32,332
University of Maryland and Isoprene Pharmaceuticals, Inc. [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	3,933
North Carolina State University [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	48,584
University of Cincinnati [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	$ 10,028	$ 7,500

Note Receivable (Details)

Note Receivable (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	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 stock 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 of Isoprene immediately prior to the conversion of the Isoprene Note.

Investments in Marketable Sec_3

Investments in Marketable Securities (Details) - Schedule of condensed consolidated statements of operations and comprehensive loss - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Schedule of condensed consolidated statements of operations and comprehensive loss [Abstract]
Unrealized gain	$ (17,930)	$ (17,564)
Realized loss	33,330	4,892
Dividend income	4,010	3,194
Interest income		6
Other income, net	$ 19,410	$ (9,471)

Investment in HaloVax (Details)

Investment in HaloVax (Details) - USD ($)	May 28, 2020	Mar. 27, 2020	Mar. 23, 2020
Investment In Halovax [Abstract]
Interest purchase percentage	1.00%	25.00%	5.00%
Outstanding membership interests	$ 100,000	$ 250,000
Additional membership interests		3,000,000
Membership interests		$ 250,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Jan. 05, 2021	Jan. 03, 2021	Mar. 08, 2021	Jan. 05, 2021	Mar. 31, 2021
Stockholders' Equity (Details) [Line Items]
Issuance of shares		1,671,926	767,975	2,475,248
Warrants to purchase of common stock shares				1,237,624
Gross proceeds (in Dollars)				$ 4,600,000
Warrants exercise price (in Dollars per share)	$ 2.25		$ 1.86	$ 2.25
Issuance term	5 years		3 years
Closing term	5 years
Net proceeds received (in Dollars)			$ 13,500,000
Warrants to purchase			1.975
Warrants to purchase of common stock shares (in Dollars)					$ 6,000
Weighted average remaining contractual terms of unvested restricted stock					1 year 343 days
Warrant Exercisable [Member]
Stockholders' Equity (Details) [Line Items]
Warrants exercise price (in Dollars per share)	$ 2.02			2.02
Warrant [Member]
Stockholders' Equity (Details) [Line Items]
Warrants exercise price (in Dollars per share)	$ 2.25			$ 2.25
Investor [Member]
Stockholders' Equity (Details) [Line Items]
Issuance of shares			6,826,962
2018 Equity Incentive Plan [Member]
Stockholders' Equity (Details) [Line Items]
Issuance of shares		671,926
Warrant [Member]
Stockholders' Equity (Details) [Line Items]
Issuance of shares			7,594,937
Warrant [Member] | Benchmark [Member]
Stockholders' Equity (Details) [Line Items]
Warrants to purchase common stock	185,644
Wainwright Warrants [Member]
Stockholders' Equity (Details) [Line Items]
Warrants to purchase of common stock shares			379,747
Warrants exercise price (in Dollars per share)			$ 2.4688
Warrant [Member] | Placement Agent Warrant [Member]
Stockholders' Equity (Details) [Line Items]
Warrants exercise price (in Dollars per share)			$ 0.001

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Schedule of restricted stock awards activities under the Company's 2018 Equity Incentive Plan	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Schedule of restricted stock awards activities under the Company's 2018 Equity Incentive Plan [Abstract]
Number of Units, Nonvested Ending Balance | shares	9,882
Weighted Average Grant Day Fair Value, Nonvested Ending balance | $ / shares	$ 1.86
Number of Units, Vested | shares	(2,634)
Weighted Average Grant Day Fair Value, Vested | $ / shares	$ 0.83
Number of Units, Nonvested Ending Balance | shares	7,248
Weighted Average Grant Day Fair Value, Nonvested Ending balance | $ / shares	$ 1.94

Stockholders' Equity (Details_2

Stockholders' Equity (Details) - Schedule of stock option plan	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Schedule of stock option plan [Abstract]
Number of Shares, Outstanding Beginning Balance | shares	689,212
Weighted Average Exercise Price, Outstanding Beginning Balance | $ / shares	$ 4.52
Total Intrinsic Value, Outstanding Beginning Balance | $
Weighted Average Remaining Contractual Life, Outstanding Beginning Balance	8 years 292 days
Number of Shares, Ending Balance | shares	1,321,212
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 3.37
Total Intrinsic Value, Ending Balance | $
Weighted Average Remaining Contractual Life, Ending Balance	9 years 36 days
Number of Shares, Options vested and exercisable | shares	1,321,212
Weighted Average Exercise Price, Options vested and exercisable | $ / shares	$ 3.37
Total Intrinsic Value, Options vested and exercisable | $
Weighted Average Remaining Contractual Life, Options vested and exercisable	9 years 36 days
Number of Shares, Employee options issued | shares	632,000
Weighted Average Exercise Price, Employee options issued | $ / shares	$ 2.11
Total Intrinsic Value, Employee options issued | $
Weighted Average Remaining Contractual Life, Employee options issued	9 years 292 days

Stockholders' Equity (Details_3

Stockholders' Equity (Details) - Schedule of stock-based compensation expense - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation	$ 1,126,038	$ 108,302
Restricted Stock Awards [Member] | Employee stock option awards [Member]
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation	1,092,429
Restricted Stock Awards [Member] | Employee restricted stock awards [Member]
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation	2,407	1,365
Restricted Stock Awards [Member] | Non-employee restricted stock awards [Member]
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation		22,332
Restricted Stock Awards [Member] | Non-employee warrant awards [Member]
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation	$ 31,202	$ 84,605

Stockholders' Equity (Details_4

Stockholders' Equity (Details) - Schedule of warrant activity - Warrants [Member]	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Stockholders' Equity (Details) - Schedule of warrant activity [Line Items]
Number of Warrants, Outstanding | shares	1,235,266
Weighted Average Exercise Price, Outstanding | $ / shares	$ 3.07
Total Intrinsic Value, Outstanding | $	$ 696,334
Weighted Average Remaining Contractual Life (in years), Outstanding	3 years 146 days
Number of Warrants, Issued | shares	10,165,927
Weighted Average Exercise Price, Issued | $ / shares	$ 1.80
Total Intrinsic Value, Issued | $
Weighted Average Remaining Contractual Life (in years), Issued	6 years 36 days
Number of Warrants, Exercised | shares	(358,745)
Weighted Average Exercise Price, Exercised | $ / shares	$ 1
Total Intrinsic Value, Exercised | $
Weighted Average Remaining Contractual Life (in years), Exercised
Number of Warrants, Outstanding | shares	11,042,448
Weighted Average Exercise Price, Outstanding | $ / shares	$ 1.97
Total Intrinsic Value, Outstanding | $	$ 2,641,375
Weighted Average Remaining Contractual Life (in years), Outstanding	3 years
Number of Warrants, Warrants exercisable | shares	10,970,686
Weighted Average Exercise Price, Warrants exercisable | $ / shares	$ 1.96
Total Intrinsic Value, Warrants exercisable | $	$ 2,641,375
Weighted Average Remaining Contractual Life (in years), Warrants exercisable	3 years

Commitments and contingencies (

Commitments and contingencies (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Leases office space	$ 2,500
Rent expense	$ 7,000	$ 8,000