Hoth Therapeutics (HOTH) 10-Q 12 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 11, 2022
Document Information Line Items
Entity Registrant Name	Hoth Therapeutics, Inc.
Trading Symbol	HOTH
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		32,211,128
Amendment Flag	false
Entity Central Index Key	0001711786
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-38803
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	82-1553794
Entity Address, Address Line One	1 Rockefeller Plaza
Entity Address, Address Line Two	Suite 1039
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10020
City Area Code	(646)
Local Phone Number	756-2997
Title of 12(b) Security	Common Stock, $0.0001 par value
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash	$ 11,317,535	$ 8,538,270
Marketable equity securities, at fair value	304,327	1,892,837
Prepaid expenses	191,181	93,972
Note receivable - current	50,000	50,000
Total current assets	11,863,043	10,575,079
Investment in joint ventures at fair value	387,400	410,000
Total assets	12,250,443	10,985,079
Current liabilities
Accounts payable	679,412	360,964
Accrued expenses	49,260	426,823
Accrued license fee - current portion	25,000	80,000
Total current liabilities	753,672	867,787
Accrued license fee - less current portion	275,000	235,000
Total liabilities	1,028,672	1,102,787
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively
Series A Convertible Preferred Stock, $0.0001 par value, 5,000,000 shares designated; 0 shares issued and outstanding at June 30, 2022 and December 31, 2021
Common stock, $0.0001 par value, 75,000,000 shares authorized, 32,210,944 and 23,974,546 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively	3,221	2,398
Additional paid-in capital	50,166,727	43,589,471
Accumulated deficit	(38,976,263)	(33,727,163)
Accumulated other comprehensive gain	28,086	17,586
Total stockholders’ equity	11,221,771	9,882,292
Total liabilities and stockholders’ equity	$ 12,250,443	$ 10,985,079

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
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	32,210,944	23,974,546
Common stock, shares outstanding	32,210,944	23,974,546
Series A Convertible Preferred Stock
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

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating costs and expenses
Research and development	$ 971,182	$ 1,751,513	$ 1,919,561	$ 3,284,618
Research and development - licenses acquired (including stock-based compensation)	36,453	32,098	77,725	125,845
Compensation and related expenses (including stock-based compensation)	515,090	477,428	1,472,859	2,130,076
Professional fees (including stock-based compensation)	523,595	700,291	1,010,296	1,501,559
Rent	15,591	18,898	29,487	26,337
Other general and administrative expenses	237,636	218,791	450,313	399,694
Total operating expenses	2,299,547	3,199,019	4,960,241	7,468,129
Loss from operations	(2,299,547)	(3,199,019)	(4,960,241)	(7,468,129)
Other expense
Losses on marketable securities	(355,184)	(57,352)	(307,682)	(37,941)
Change in fair value of investments in joint ventures	(22,600)		(22,600)
Other (expense) income, net	(262)	(19,508)	41,423	(31,493)
Total other expense	(378,046)	(76,860)	(288,859)	(69,434)
Net loss	(2,677,593)	(3,275,879)	(5,249,100)	(7,537,563)
Other comprehensive income
Foreign currency translation adjustment	14,230	9,063	10,500	15,537
Total comprehensive loss	$ (2,663,363)	$ (3,266,816)	$ (5,238,600)	$ (7,522,026)
Net loss per share applicable to common stockholders - basic and diluted (in Dollars per share)	$ (0.09)	$ (0.14)	$ (0.19)	$ (0.36)
Weighted average number of common shares outstanding, basic and diluted (in Shares)	31,034,205	23,694,499	27,524,017	20,702,593

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net loss per share applicable to common stockholders - basic and diluted	$ (0.09)	$ (0.14)	$ (0.19)	$ (0.36)
Weighted average number of common shares outstanding, basic and diluted	31,034,205	23,694,499	27,524,017	20,702,593

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Total
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 (net of offering costs of $1,491,600)	$ 683	13,506,949			13,507,632
Issuance of common stock, common stock warrants and prefunded warrants (net of offering costs of $1,491,600) (in Shares)	6,826,962
Issuance of common stock and warrants (net of offering costs of $572,500)	$ 248	4,427,253			4,427,501
Issuance of common stock and warrants (net of offering costs of $572,500) (in Shares)	2,475,248
Warrant exercise	$ 113	359,400			359,513
Warrant exercise (in Shares)	1,126,720
Stock-based compensation	$ 1	1,156,399			1,156,400
Stock-based compensation (in Shares)	5,268
Cumulative translation adjustment				15,537	15,537
Net loss			(7,537,563)		(7,537,563)
Balance at Jun. 30, 2021	$ 2,388	43,523,060	(26,951,021)	186	16,574,613
Balance (in Shares) at Jun. 30, 2021	23,872,733
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
Offering cost related with issuance of common stock and warrants		(137,500)			(137,500)
Warrant exercise	$ 77	691			768
Warrant exercise (in Shares)	767,975
Stock-based compensation	$ 1	30,361			30,362
Stock-based compensation (in Shares)	2,634
Cumulative translation adjustment				9,063	9,063
Net loss			(3,275,879)		(3,275,879)
Balance at Jun. 30, 2021	$ 2,388	43,523,060	(26,951,021)	186	16,574,613
Balance (in Shares) at Jun. 30, 2021	23,872,733
Balance at Dec. 31, 2021	$ 2,398	43,589,471	(33,727,163)	17,586	9,882,292
Balance (in Shares) at Dec. 31, 2021	23,974,546
Stock-based compensation		592,976			592,976
Stock-based compensation (in Shares)	1,104
Issuance of common stock (net of offering costs of $1,014,896)	$ 823	5,984,280			5,985,103
Issuance of common stock (net of offering costs of $1,014,896) (in Shares)	8,235,294
Cumulative translation adjustment				10,500	10,500
Net loss			(5,249,100)		(5,249,100)
Balance at Jun. 30, 2022	$ 3,221	50,166,727	(38,976,263)	28,086	11,221,771
Balance (in Shares) at Jun. 30, 2022	32,210,944
Balance at Mar. 31, 2022	$ 2,398	44,166,909	(36,298,670)	13,856	7,884,493
Balance (in Shares) at Mar. 31, 2022	23,975,098
Stock-based compensation		15,538			15,538
Stock-based compensation (in Shares)	552
Issuance of common stock (net of offering costs of $1,014,896)	$ 823	5,984,280			5,985,103
Issuance of common stock (net of offering costs of $1,014,896) (in Shares)	8,235,294
Cumulative translation adjustment				14,230	14,230
Net loss			(2,677,593)		(2,677,593)
Balance at Jun. 30, 2022	$ 3,221	$ 50,166,727	$ (38,976,263)	$ 28,086	$ 11,221,771
Balance (in Shares) at Jun. 30, 2022	32,210,944

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) (Parentheticals) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Issuance of common stock	$ 1,014,896	$ 1,014,896
Issuance of common stock, common stock warrants and prefunded warrants			$ 1,491,600
Issuance of common stock and warrants			$ 572,500

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss	$ (5,249,100)	$ (7,537,563)
Adjustments to reconcile net loss to net cash used in operating activities:
Research and development-acquired license, expensed	61,453	896
Change in fair value of investments in joint ventures	22,600
Stock-based compensation	592,976	1,156,400
Realized loss on marketable securities	194,179	584
Unrealized loss on marketable securities	158,635	47,409
Loss on foreign currency exchange		31,492
Changes in operating assets and liabilities:
Prepaid expenses	(101,090)	(52,292)
Accounts payable	(38,762)	868,028
Net cash used in operating activities	(4,359,109)	(5,485,046)
Cash flows from investing activities
Purchase of research and development licenses	(76,453)	(7,896)
Purchase of marketable securities		(1,553,701)
Sale of marketable securities	1,235,696	1,992,840
Net cash provided by investing activities	1,159,243	431,243
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		4,427,501
Proceeds from issuance common stock, net of offering cost	5,985,103
Proceeds from exercise of warrants		359,513
Net cash provided by financing activities	5,985,103	18,294,646
Effect of exchange rate changes on cash and cash equivalents	(5,972)	(19,105)
Net change in cash	2,785,237	13,240,843
Cash, beginning of period	8,538,270	2,629,670
Cash, end of period	$ 11,317,535	$ 15,851,408

Organization and Description of

Organization and Description of Business Operations	6 Months Ended
	Jun. 30, 2022
Organization and Description of Business Operations [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 focused on developing new generation therapies for unmet medical needs. The Company is focused on developing (i) a topical formulation for treating side effects from drugs used for the treatment of cancer; (ii) a treatment for mast-cell derived cancers and anaphylaxis; (iii) a treatment for traumatic brain injury and ischemic stroke; and (iv) a treatment and/or prevention for Alzheimer’s or other neuroinflammatory diseases. The Company also has assets being developed for (i) atopic dermatitis (also known as eczema); (ii) a treatment for asthma and allergies using inhalational administration; and (iii) a treatment for inflammatory bowel diseases. In addition, the Company is developing a diagnostic device via a mobile device. The Company also has interests in certain other assets being developed by third parties (See Note 6 for a discussion of the Company’s agreement with Zylö Therapeutics, Inc. and Voltron Therapeutics, Inc.). 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 shareholders and future debt securities may contain covenants that limit the Company’s operations or ability to enter into certain transactions. The Company believes 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 current and future 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. On April 14, 2022, the Company closed an underwritten public offering of 8,235,294 shares of the Company’s common stock at a price to the public of $0.85 per share (the “Offering Price”). Pursuant to the terms of an underwriting agreement dated April 11, 2022 between the Company and EF Hutton, division of Benchmark Investments, LLC, as representative of the several underwriters (the “Underwriters”), the Company granted the Underwriters a 45-day option to purchase up to an additional 1,235,294 shares of the Company’s common stock to cover over-allotments, if any, at the Offering Price less the underwriting discounts and commissions. The net proceeds to the Company from the sale of the shares, after deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company, were $6.0 million. The Underwriters did not exercise their over-allotment option.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
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 30, 2022. 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 significant 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, 2021 as filed with the SEC on March 30, 2022. 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. Fair value option - Note receivable The guidance in ASC 825, Financial Instruments Investment in joint ventures 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 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 ventures is further described in Note of 6 these consolidated financial statements. 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 June 30, Potentially dilutive securities 2022 2021 Warrants 10,070,764 10,274,473 Options 2,616,212 1,321,212 Non-vested restricted stock awards 1,697 4,614 Total 12,688,673 11,600,299 Recent accounting pronouncements Currently, management does not believe that any other recently issued, but not yet effective accounting pronouncements, if currently adopted, would have a material impact on the Company’s condensed consolidated financial statements.

License Agreements

License Agreements	6 Months Ended
	Jun. 30, 2022
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 and six months ended June 30, 2022 and 2021: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 The George Washington University $ 23,953 $ 28,559 $ 40,225 $ 59,761 North Carolina State University - - 20,000 48,584 Virginia Commonwealth University 10,000 - 10,000 - University of Cincinnati 2,500 12,500 7,500 17,500 Adjustment - (8,961 ) - - $ 36,453 $ 32,098 $ 77,725 $ 125,845 The George Washington University During the three and six months ended June 30, 2022, the Company recorded an expense of approximately $15,000 and $31,000, respectively, related to warrants granted to The George Washington University pursuant to a patent license agreement. The Company also recorded $9,000 during the three and six months ended June 30, 2022 for a license maintenance fee. North Carolina State University During the three and six months ended June 30, 2022, the Company paid $0 and $20,000 for a license fee, respectively. Virginia Commonwealth University On May 18, 2020, the Company entered into an Exclusive License Agreement with the Virginia Commonwealth University Intellectual Property Foundation, as amended on June 22, 2022. Pursuant to such agreement, the Company accrued $275,000 for five years of annual minimum payments and $25,000 for annual maintenance fees. During the three and six months ended June 30, 2022, the Company paid $10,000 for a license fee. University of Cincinnati During the three and six months ended June 30, 2022, the Company paid $2,500 and $7,500 for a license fee, respectively.

Note Receivable

Note Receivable	6 Months Ended
	Jun. 30, 2022
Note Receivable [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	6 Months Ended
	Jun. 30, 2022
Investments in Marketable 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 and six months ended June 30, 2022 and 2021, which are recorded as a component of other (expense) income on the condensed consolidated statements of operations and comprehensive loss, are as follows: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Unrealized loss $ (180,583 ) $ (29,479 ) $ (158,635 ) $ (47,409 ) Realized loss (194,179 ) (33,914 ) (194,179 ) (584 ) Dividend income 19,578 6,041 45,132 10,052 $ (355,184 ) $ (57,352 ) $ (307,682 ) $ (37,941 )

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	Note 6-Fair Value of Financial Assets and Liabilities The following table presents the Company’s assets and liabilities that are measured at fair value at June 30, 2022 and December 31, 2021: Fair value measured at June 30, 2022 Total at Quoted prices Significant Significant 2022 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 304,327 $ 304,327 $ - $ - Investment in joint ventures $ 387,400 $ - $ - $ 387,400 Note receivable - current $ 50,000 $ - $ - $ 50,000 Fair value measured at December 31, 2021 Total at Quoted prices Significant Significant 2021 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 1,892,837 $ 1,892,837 $ - $ - Investment in joint ventures $ 410,000 - - $ 410,000 Note receivable - current $ 50,000 - - $ 50,000 Level 3 Measurement The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial assets that are measured at fair value on a recurring basis: Investment in joint ventures at fair value at December 31, 2021 $ 410,000 Change in fair value of investments in joint ventures (22,600 ) Investment in joint ventures at fair value at June 30, 2022 $ 387,400 Investment in joint ventures The Company has elected to measure the investment in joint ventures using the fair value option at each reporting date. Under the fair value option, bifurcation of an embedded derivative is not necessary, and all related gains and losses on the host contract and derivative due to change in the fair value will be reflected in interest income and other, net in the consolidated statements of operations. The value at which the Company’s investment in joint ventures is carried on its books is adjusted to estimated fair value at the end of each quarter, taking into account general economic and stock market conditions and those characteristics specific to the underlying investments. 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. No change in fair value occurred during the six months ended June 30, 2022. The investment in HaloVax was valued $350,000 as of June 30, 2022 and December 31, 2021. Investment in Zylö In connection with the Company’s March 2020 underwritten public offering of shares of its common stock, on May 4, 2020, the Company purchased 120,000 shares of Zylö’s Class B common stock for $60,000. No change in fair value occurred during the six months ended June 30, 2022. On December 8, 2021, the Company entered into a third amendment (the “Zylö Amendment”) to the Exclusive Sublicense Agreement with Zylö originally dated August 19, 2019, pursuant to which the Company licensed its novel cannabinoid therapeutic, HT-005 for lupus patients, back to Zylö. Pursuant to the Zylö Amendment, on December 6, 2021, Zylö issued the Company 100,000 shares of its Class B common stock. In addition, pursuant to the Zylö Amendment, within 90 days following a sale by Zylö of all of its assets and rights related to HT-005 to a third-party (a “Sale”), Zylö shall pay the Company a low single digit percent of the net proceeds received by it attributable to HT-005 in the United States and Canada and their respective territories (collectively, the “Territory”) for the purposes of therapeutic uses related to lupus in humans (the “Field”). After the Sale, any and all rights of the Company pursuant to the Exclusive Sublicense Agreement, including all amendments thereto, shall terminate. Furthermore, pursuant to the Zylö Amendment, following the date of the first commercial sale of HT-005 in the Territory, in the Field, Zylö shall pay the Company (i) a low single digit percent of the Net Sales (as defined in the Exclusive Sublicense Agreement) of HT-005 in the event HT-005 is sold in the Territory and (ii) a low double digit percent of any royalty that Zylö receives through the sublicense to a third-party based on Net Sales of HT-005 in the Territory which payments shall continue in each country in the Territory until expiration of the last-to-expire Valid Claim (as defined in the Exclusive Sublicense Agreement). Zylö conducted a 409A valuation on their Class B Common shares and valued its share price at $0.17 per share. This value was ratified by Zylö’s board of directors in May 2022. Therefore, the Company recorded approximate $23,000 in unrealized loss on this investment during the second quarter of 2022. The investment in Zylö was valued at $37,000 and $60,000 as of June 30, 2022 and December 31, 2021, respectively. Note receivable As of June 30, 2022, the fair value of the Isoprene Note was measured at $50,000, taking into consideration cost of the investment, market participant inputs, market conditions, liquidity, operating results and other qualitative and quantitative factors. No change in fair value was recorded during the six months ended June 30, 2022.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 7-Stockholders’ Equity 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. On June 24, 2021, at the annual meeting of shareholders, shareholders of the Company approved an amendment to the 2018 Plan to further increase the number of shares reserved for issuance thereunder from 1,671,926 shares to 3,671,926 shares. On February 2, 2022, the compensation committee of the board of directors further increased the number of shares reserved for issuance under the 2018 Plan from 3,671,926 shares to 3,921,926 shares. 2022 Equity Incentive Plan On March 24, 2022, the Company’s board of directors adopted the Hoth Therapeutics, Inc. 2022 Omnibus Equity Incentive Plan (the “2022 Plan”) initially reserving 2,400,000 shares of the Company’s common stock for issuance thereunder. The 2022 Plan became effective on June 23, 2022 upon approval of the 2022 Plan by the Company’s shareholders at the Company’s annual meeting of shareholders. Restricted Stock Awards A summary of the Company’s restricted stock awards granted under the 2018 Plan during the six months ended June 30, 2022 is as follows: Number of Restricted Stock Awards Weighted Average Grant Day Fair Value Nonvested at December 31, 2021 2,801 $ 3.00 Vested (1,104 ) 3.00 Nonvested at June 30, 2022 1,697 $ 3.00 As of June 30, 2022, approximately $700 of unrecognized stock-based compensation expense was related to restricted stock awards. The weighted average remaining contractual terms of unvested restricted stock awards was approximately 0.25 years at June 30, 2022. Stock Options A summary of option activity under the Company’s stock option plan for six months ended June 30, 2022 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, 2021 1,321,212 $ 3.37 $ - 8.6 Employee options issued 1,295,000 0.59 - 9.7 Outstanding as of June 30, 2022 2,616,212 $ 1.99 $ - 8.8 Options vested and exercisable as of June 30, 2022 2,616,212 $ 1.99 $ - 8.8 Stock Based Compensation Stock-based compensation expense for the three and six months ended June 30, 2022 and 2021 was as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Employee stock option awards $ - $ - $ 560,376 $ 1,092,429 Employee restricted stock awards 585 1,803 1,375 4,210 Non-employee stock warrant awards 14,953 28,559 31,225 59,761 $ 15,538 $ 30,362 $ 592,976 $ 1,156,400 Employee related stock-based compensation is recognized as “compensation and related expenses (including stock-based compensation)” and non-employee related stock-based compensation is recognized as “professional fees (including stock-based compensation)” or “research and development - licenses acquired (including stock-based compensation)” in the condensed consolidated statements of operations and comprehensive loss. Warrants A summary of warrant activity for the six months ended June 30, 2022 is as follows: Number of Warrants Weighted Average Total Intrinsic Value Weighted Average Remaining Contractual Life (in years) Outstanding as of December 31, 2021 10,070,764 $ 1.99 $ - 2.3 Outstanding as of June 30, 2022 10,070,764 $ 1.99 $ - 1.9 Warrants exercisable as of June 30, 2022 10,018,093 $ 1.99 $ - 2.0 The Company has determined that the warrants should be accounted as a component of stockholders’ equity.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies [Abstract]
Commitments and contingencies	Note 8-Commitments and contingencies Office lease The Company leases office space for approximately $4,500 a month. Rent expense for the three months ended June 30, 2022 and 2021 was approximately $16,000 and $19,000, respectively. Rent expense for the six months ended June 30, 2022 and 2021 was approximately $29,000 and $26,000, 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	6 Months Ended
	Jun. 30, 2022
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. COVID-19 has spread to many regions of the world. The extent to which COVID-19 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 COVID-19 and the actions to contain COVID-19 or treat its impact, among others. As a result of the continuing spread of COVID-19, certain aspects of the Company’s business operations have been delayed, and the Company may be subject to additional delays or interruptions. Specifically, if shelter-in-place orders and other mandated local travel restrictions are imposed, 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 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 COVID-19 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 COVID-19 continues and the Company’s operations are adversely impacted, the Company risks a delay, default and/or nonperformance under its existing agreements which may increase its costs. These cost increases may not be fully recoverable or adequately covered by insurance. Moreover, infections and deaths related to COVID-19 may disrupt the healthcare and healthcare regulatory systems in both the United States and globally, including in Australia. Such disruptions could divert healthcare resources away from, or materially delay review and/or approval with respect to the Company’s clinical trials by the U.S. Food and Drug Administration and foreign regulatory authorities, including the Belberry Human Research Ethics Committee in Australia. 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 in the supply chain for materials used in the production of the Company’s product candidates are adversely impacted by restrictions resulting from the ongoing COVID-19 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 COVID-19, 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 may result in further 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 COVID-19 could materially and adversely affect the Company’s business and the value of its common stock. The ultimate impact of the ongoing COVID-19 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	6 Months Ended
	Jun. 30, 2022
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 except as set forth herein.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2022
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 30, 2022. 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 significant 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, 2021 as filed with the SEC on March 30, 2022.
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.
Fair value option - Note receivable	Fair value option - Note receivable The guidance in ASC 825, Financial Instruments
Investment in joint venture	Investment in joint ventures 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 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 ventures is further described in Note of 6 these consolidated financial statements.
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 June 30, Potentially dilutive securities 2022 2021 Warrants 10,070,764 10,274,473 Options 2,616,212 1,321,212 Non-vested restricted stock awards 1,697 4,614 Total 12,688,673 11,600,299
Recent accounting pronouncements	Recent accounting pronouncements Currently, management does not believe that any other recently issued, but not yet effective accounting pronouncements, if currently adopted, would have a material impact on the Company’s condensed consolidated financial statements.

Significant Accounting Polici_2

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Schedule of anti-dilutive impact on net loss	As of June 30, Potentially dilutive securities 2022 2021 Warrants 10,070,764 10,274,473 Options 2,616,212 1,321,212 Non-vested restricted stock awards 1,697 4,614 Total 12,688,673 11,600,299

License Agreements (Tables)

License Agreements (Tables)	6 Months Ended
	Jun. 30, 2022
License Agreement [Abstract]
Schedule of research and development expenses for licenses acquired	For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 The George Washington University $ 23,953 $ 28,559 $ 40,225 $ 59,761 North Carolina State University - - 20,000 48,584 Virginia Commonwealth University 10,000 - 10,000 - University of Cincinnati 2,500 12,500 7,500 17,500 Adjustment - (8,961 ) - - $ 36,453 $ 32,098 $ 77,725 $ 125,845

Investments in Marketable Sec_2

Investments in Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2022
Investments In Marketable Securities [Abstract]
Schedule of consolidated statements of operations and comprehensive loss	For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Unrealized loss $ (180,583 ) $ (29,479 ) $ (158,635 ) $ (47,409 ) Realized loss (194,179 ) (33,914 ) (194,179 ) (584 ) Dividend income 19,578 6,041 45,132 10,052 $ (355,184 ) $ (57,352 ) $ (307,682 ) $ (37,941 )

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value	Fair value measured at June 30, 2022 Total at Quoted prices Significant Significant 2022 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 304,327 $ 304,327 $ - $ - Investment in joint ventures $ 387,400 $ - $ - $ 387,400 Note receivable - current $ 50,000 $ - $ - $ 50,000 Fair value measured at December 31, 2021 Total at Quoted prices Significant Significant 2021 (Level 1) (Level 2) (Level 3) Assets Marketable securities - mutual funds $ 1,892,837 $ 1,892,837 $ - $ - Investment in joint ventures $ 410,000 - - $ 410,000 Note receivable - current $ 50,000 - - $ 50,000
Schedule of changes in fair value of the Company’s Level 3	Investment in joint ventures at fair value at December 31, 2021 $ 410,000 Change in fair value of investments in joint ventures (22,600 ) Investment in joint ventures at fair value at June 30, 2022 $ 387,400

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of restricted stock awards granted	Number of Restricted Stock Awards Weighted Average Grant Day Fair Value Nonvested at December 31, 2021 2,801 $ 3.00 Vested (1,104 ) 3.00 Nonvested at June 30, 2022 1,697 $ 3.00
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, 2021 1,321,212 $ 3.37 $ - 8.6 Employee options issued 1,295,000 0.59 - 9.7 Outstanding as of June 30, 2022 2,616,212 $ 1.99 $ - 8.8 Options vested and exercisable as of June 30, 2022 2,616,212 $ 1.99 $ - 8.8
Schedule of stock-based compensation expense	For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Employee stock option awards $ - $ - $ 560,376 $ 1,092,429 Employee restricted stock awards 585 1,803 1,375 4,210 Non-employee stock warrant awards 14,953 28,559 31,225 59,761 $ 15,538 $ 30,362 $ 592,976 $ 1,156,400
Schedule of warrant activity	Number of Warrants Weighted Average Total Intrinsic Value Weighted Average Remaining Contractual Life (in years) Outstanding as of December 31, 2021 10,070,764 $ 1.99 $ - 2.3 Outstanding as of June 30, 2022 10,070,764 $ 1.99 $ - 1.9 Warrants exercisable as of June 30, 2022 10,018,093 $ 1.99 $ - 2.0

Organization and Description _2

Organization and Description of Business Operations (Details) $ / shares in Units, $ in Millions	Apr. 14, 2022 USD ($) $ / shares shares
Accounting Policies [Abstract]
Underwritten public offering shares	8,235,294
Price per share (in Dollars per share) | $ / shares	$ 0.85
Additional purchase shares	1,235,294
Offering expenses payable (in Dollars) | $	$ 6

Significant Accounting Polici_3

Significant Accounting Policies (Details) - Limited Partnership [Member]	6 Months Ended
	Jun. 30, 2022
Minimum [Member]
Significant Accounting Policies (Details) [Line Items]
Limited partnership, percentage	3%
Maximum [Member]
Significant Accounting Policies (Details) [Line Items]
Limited partnership, percentage	5%

Significant Accounting Polici_4

Significant Accounting Policies (Details) - Schedule of anti-dilutive impact on net loss - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	12,688,673	11,600,299
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	10,070,764	10,274,473
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	2,616,212	1,321,212
Non-vested restricted stock awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,697	4,614

License Agreements (Details)

License Agreements (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)
License Agreements (Details) [Line Items]
Recorded an expense	$ 15,000	$ 31,000
Accrued license fee	275,000	275,000
Maintenance fees	25,000	25,000
The George Washington University [Member]
License Agreements (Details) [Line Items]
License fee	9,000	9,000
North Carolina State University [Member]
License Agreements (Details) [Line Items]
License fee	0	20,000
Virginia Commonwealth University [Member]
License Agreements (Details) [Line Items]
License fee	10,000	10,000
University Of Cincinnati [Member]
License Agreements (Details) [Line Items]
License fee	$ 2,500	$ 7,500

License Agreements (Details) -

License Agreements (Details) - Schedule of research and development expenses for licenses acquired - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	$ 36,453	$ 32,098	$ 77,725	$ 125,845
The George Washington University [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	23,953	28,559	40,225	59,761
North Carolina State University [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total			20,000	48,584
Virginia Commonwealth University [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	10,000		10,000
University of Cincinnati [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total	2,500	12,500	7,500	17,500
Adjustment [Member]
License Agreements (Details) - Schedule of research and development expenses for licenses acquired [Line Items]
Total		$ (8,961)

Note Receivable (Details)

Note Receivable (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Sep. 10, 2020
Note Receivable [Abstract]
Convertible promissory note		$ 50,000
Note receivable, 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 consolidated statements of operations and comprehensive loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule of consolidated statements of operations and comprehensive loss [Abstract]
Unrealized loss	$ (180,583)	$ (29,479)	$ (158,635)	$ (47,409)
Realized loss	(194,179)	(33,914)	(194,179)	(584)
Dividend income	19,578	6,041	45,132	10,052
Other income, net	$ (355,184)	$ (57,352)	$ (307,682)	$ (37,941)

Fair Value of Financial Asset_3

Fair Value of Financial Assets and Liabilities (Details) - USD ($)		1 Months Ended
	May 04, 2020	May 28, 2020	Mar. 27, 2020	Mar. 23, 2020	Jun. 30, 2022	May 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Dec. 06, 2021
Fair Value of Financial Assets and Liabilities (Details) [Line Items]
Fair Value, Concentration of Risk, Investment in Federal Home Loan Bank Stock						$ 23,000
HaloVax [Member]
Fair Value of Financial Assets and Liabilities (Details) [Line Items]
Outstanding membership interests, percentage			25%	5%
Outstanding, amount		$ 100,000	$ 3,000,000	$ 250,000
Inclusive amount			$ 250,000
Purchase Agreement, percentage		1%
Investment value					$ 350,000			$ 350,000
Zylo [Member]
Fair Value of Financial Assets and Liabilities (Details) [Line Items]
Investment value					37,000			$ 60,000
Purchased shares (in Shares)	120,000
Isoprene [Member]
Fair Value of Financial Assets and Liabilities (Details) [Line Items]
Consideration cost					$ 50,000
Common Class B [Member]
Fair Value of Financial Assets and Liabilities (Details) [Line Items]
Purchase of common stock	$ 60,000
Share price (in Dollars per share)							$ 0.17
Common Class B [Member] | Zylo [Member]
Fair Value of Financial Assets and Liabilities (Details) [Line Items]
Shares issued (in Shares)									100,000

Fair Value of Financial Asset_4

Fair Value of Financial Assets and Liabilities (Details) - Schedule of assets and liabilities measured at fair value - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Assets
Marketable securities - mutual funds	$ 304,327	$ 1,892,837
Investment in joint ventures	387,400	410,000
Note receivable - current	50,000	50,000
Fair Value, Inputs, Level 1 [Member]
Assets
Marketable securities - mutual funds	304,327	1,892,837
Investment in joint ventures
Note receivable - current
Fair Value, Inputs, Level 2 [Member]
Assets
Marketable securities - mutual funds
Investment in joint ventures
Note receivable - current
Fair Value, Inputs, Level 3 [Member]
Assets
Marketable securities - mutual funds
Investment in joint ventures	387,400	410,000
Note receivable - current	$ 50,000	$ 50,000

Fair Value of Financial Asset_5

Fair Value of Financial Assets and Liabilities (Details) - Schedule of changes in fair value of the Company’s Level 3	6 Months Ended
	Jun. 30, 2022 USD ($)
Schedule of changes in fair value of the Company’s Level 3 [Abstract]
Investment in joint ventures at fair value at December 31, 2021	$ 410,000
Investment in joint ventures at fair value at June 30, 2022	387,400
Change in fair value of investments in joint ventures	$ (22,600)

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)				6 Months Ended
	Feb. 02, 2022	Jun. 24, 2021	Jan. 01, 2021	Jun. 30, 2022	Mar. 24, 2022
Stockholders' Equity (Details) [Line Items]
Issuance of shares			1,671,926
Shares reserved					2,400,000
Stock-based compensation (in Dollars)				$ 700
Unvested restricted stock awards				3 months
2018 Plan [Member]
Stockholders' Equity (Details) [Line Items]
Issuance of shares			671,926
2018 Plan [Member] | Minimum [Member]
Stockholders' Equity (Details) [Line Items]
Issuance of shares	3,671,926	1,671,926
2018 Plan [Member] | Maximum [Member]
Stockholders' Equity (Details) [Line Items]
Issuance of shares	3,921,926	3,671,926

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Schedule of restricted stock awards granted	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Schedule of restricted stock awards granted [Abstract]
Number of Restricted Stock Awards, Nonvested Beginning Balance | shares	2,801
Weighted Average Grant Day Fair Value, Nonvested Beginning balance | $ / shares	$ 3
Number of Restricted Stock Awards, Vested | shares	(1,104)
Weighted Average Grant Day Fair Value, Vested | $ / shares	$ 3
Number of Restricted Stock Awards, Nonvested Ending Balance | shares	1,697
Weighted Average Grant Day Fair Value, Nonvested Ending balance | $ / shares	$ 3

Stockholders' Equity (Details_2

Stockholders' Equity (Details) - Schedule of stock option plan	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
Schedule of stock option plan [Abstract]
Number of Shares, Outstanding Beginning Balance | shares	1,321,212
Weighted Average Exercise Price, Outstanding Beginning Balance | $ / shares	$ 3.37
Total Intrinsic Value, Outstanding Beginning Balance | $
Weighted Average Remaining Contractual Life (in years), Outstanding Beginning Balance	8 years 7 months 6 days
Number of Shares, Employee options issued | shares	1,295,000
Weighted Average Exercise Price, Employee options issued | $ / shares	$ 0.59
Total Intrinsic Value, Employee options issued | $
Weighted Average Remaining Contractual Life (in years), Employee options issued	9 years 8 months 12 days
Number of Shares, Outstanding Ending Balance | shares	2,616,212
Weighted Average Exercise Price, Outstanding Ending Balance | $ / shares	$ 1.99
Total Intrinsic Value, Outstanding Ending Balance | $
Weighted Average Remaining Contractual Life (in years), Outstanding Ending Balance	8 years 9 months 18 days
Number of Shares, Options vested and exercisable | shares	2,616,212
Weighted Average Exercise Price, Options vested and exercisable | $ / shares	$ 1.99
Total Intrinsic Value, Options vested and exercisable | $
Weighted Average Remaining Contractual Life (in years), Options vested and exercisable	8 years 9 months 18 days

Stockholders' Equity (Details_3

Stockholders' Equity (Details) - Schedule of stock-based compensation expense - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation	$ 15,538	$ 30,362	$ 592,976	$ 1,156,400
Restricted Stock Awards [Member] | Employee stock option awards [Member]
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation			560,376	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	585	1,803	1,375	4,210
Restricted Stock Awards [Member] | Non-employee stock warrant awards [Member]
Stockholders' Equity (Details) - Schedule of stock-based compensation expense [Line Items]
Stock-based compensation	$ 14,953	$ 28,559	$ 31,225	$ 59,761

Stockholders' Equity (Details_4

Stockholders' Equity (Details) - Schedule of warrant activity - Warrants [Member]	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
Stockholders' Equity (Details) - Schedule of warrant activity [Line Items]
Number of Warrants, Outstanding Ending balance | shares	10,070,764
Weighted Average Exercise Price, Outstanding Ending balance | $ / shares	$ 1.99
Total Intrinsic Value, Outstanding Ending balance | $
Weighted Average Remaining Contractual Life (in years), Outstanding, Ending balance	2 years 3 months 18 days
Number of Warrants, Outstanding Ending balance | shares	10,070,764
Weighted Average Exercise Price, Outstanding Ending balance | $ / shares	$ 1.99
Total Intrinsic Value, Outstanding Ending balance | $
Weighted Average Remaining Contractual Life (in years), Outstanding, Ending balance	1 year 10 months 24 days
Number of Warrants, Warrants exercisable | shares	10,018,093
Weighted Average Exercise Price, Warrants exercisable | $ / shares	$ 1.99
Total Intrinsic Value, Warrants exercisable | $
Weighted Average Remaining Contractual Life (in years), Warrants exercisable	2 years

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Commitments and Contingencies [Abstract]
Leases office space			$ 4,500
Rent expense	$ 16,000	$ 19,000	$ 29,000	$ 26,000