TFF Pharmaceuticals (TFFP) 10-K 27 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 24, 2020	Jun. 30, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	TFF Pharmaceuticals, Inc.
Entity Central Index Key	0001733413
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		18,671,658
Entity File Number	333-233378
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 28,094,936	$ 10,261,671
Prepaid assets and other current assets	1,092,462	12,065
Total current assets	29,187,398	10,273,736
Deferred offering costs		127,768
Total assets	29,187,398	10,401,504
Current liabilities:
Accounts payable	410,638	428,645
Accrued dividends payable		728,350
Total current liabilities	410,638	1,156,995
Accrued research and development expense (see Note 5)	1,132,013
Total liabilities	1,542,651	1,156,995
Commitments and contingencies (see Note 4)
Series A Preferred Stock:
Series A Preferred Stock, $0.001 par value, 10,000,000 shares authorized; 0 and 5,662,000 shares issued and outstanding as of December 31, 2019 and 2018, respectively		12,485,971
Stockholders' equity (deficit):
Common stock; $0.001 par value, 45,000,000 shares authorized; 18,450,992 and 4,000,000 shares issued and outstanding as of December 31, 2019 and 2018, respectively	18,451	4,000
Additional paid-in capital	43,338,710	596,724
Accumulated deficit	(15,712,414)	(3,842,186)
Total stockholders' equity (deficit)	27,644,747	(3,241,462)
Total liabilities, Series A Preferred Stock and stockholders' equity (deficit)	$ 29,187,398	$ 10,401,504

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Series A preferred stock, par value	$ 0.001	$ 0.001
Series A preferred stock, shares authorized	10,000,000	10,000,000
Series A preferred stock, shares issued	0	5,662,000
Series A preferred stock, shares outstanding	0	5,662,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	45,000,000	45,000,000
Common stock, shares issued	18,450,992	4,000,000
Common stock, Shares outstanding	18,450,992	4,000,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)		1 Months Ended	11 Months Ended	12 Months Ended
		Jan. 23, 2018	Dec. 31, 2018	Dec. 31, 2019
Operating expenses:
Research and development			$ 848,809	$ 8,822,226
General and administrative			3,049,337	3,165,331
Total operating expenses			3,898,146	11,987,557
Loss from operations			(3,898,146)	(11,987,557)
Other income:
Interest income			55,960	117,329
Total other income			55,960	117,329
Net loss			(3,842,186)	(11,870,228)
Preferred stock dividend			(728,350)	(875,359)
Deemed dividend for beneficial conversion feature of Series A Preferred Stock				(23,929,751)
Net loss applicable to common stock			$ (4,570,536)	$ (36,675,338)
Net loss applicable to common stock per share, basic and diluted			$ (1.31)	$ (5.31)
Weighted average common shares outstanding, basic and diluted			3,483,836	6,904,983
Predecessor [Member]
Operating expenses:
Research and development	[1]
General and administrative	[1]
Total operating expenses	[1]
Loss from operations	[1]
Other income:
Interest income	[1]
Total other income	[1]
Net loss	[1]
Preferred stock dividend	[1]
Deemed dividend for beneficial conversion feature of Series A Preferred Stock	[1]
Net loss applicable to common stock	[1]
Net loss applicable to common stock per share, basic and diluted
Weighted average common shares outstanding, basic and diluted
[1]	Operations were not material.

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($)	Common Stock	Additional Paid in Capital	Parent's Net Deficit	Accumulated Deficit	Total
Balance (Predecessor) at Dec. 31, 2017			$ (1,833)		$ (1,833)
Balance, shares (Predecessor) at Dec. 31, 2017
Transfers from former parent (Predecessor)			1,833		1,833
Net loss (Predecessor)
Balance at Jan. 23, 2018
Balance, shares at Jan. 23, 2018
Common stock issued to former parent	$ 4,000	(4,000)
Common stock issued to former parent, shares	4,000,000
Issuance of common stock warrants		1,178,088			1,178,088
Stock-based compensation		150,986			150,986
Dividends on preferred stock		(728,350)			(728,350)
Net loss (Predecessor)				(3,842,186)	(3,842,186)
Balance at Dec. 31, 2018	$ 4,000	596,724		(3,842,186)	(3,241,462)
Balance, shares at Dec. 31, 2018	4,000,000
Issuance of common stock in connection with IPO, including underwriter's over- allotment, net of offering costs and underwriter's discount	$ 4,879	21,748,969			21,753,848
Issuance of common stock in connection with IPO, including underwriter's over- allotment, net of offering costs and underwriter's discount,shares	4,879,300
Stock-based compensation		590,041			590,041
Dividends on preferred stock		(875,359)			(875,359)
Conversion of Series A Preferred Stock (including accrued dividends) to common stock	$ 9,572	21,278,335			21,287,907
Conversion of Series A Preferred Stock (including accrued dividends) to common stock, shares	9,571,692
Net loss (Predecessor)				(11,870,228)	(11,870,228)
Balance at Dec. 31, 2019	$ 18,451	$ 43,338,710		$ (15,712,414)	$ 27,644,747
Balance, shares at Dec. 31, 2019	18,450,992

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 23, 2018	Dec. 31, 2018	Dec. 31, 2019
Cash flows from operating activities:
Net loss		$ (3,842,186)	$ (11,870,228)
Adjustment to reconcile net loss to net cash used in operating activities:
Stock based compensation		1,329,074	590,041
Changes in operating assets and liabilities:
Prepaid assets		(12,065)	(1,080,397)
Accounts payable	(1,833)	(398,189)	12,449
Accrued research and development expense			1,132,013
Net cash used in operating activities	(1,833)	(2,126,988)	(11,216,122)
Cash flows from investing activities:
Net cash used in investing activities
Cash flows from financing activities:
Net transfers from parent	1,833
Payment of offering costs		(97,312)
Net proceeds from issuance of common stock in connection with IPO			21,851,160
Net proceeds from issuance of preferred stock		12,485,971	7,198,227
Net cash provided by financing activities	1,833	12,388,659	29,049,387
Net increase in cash and cash equivalents		10,261,671	17,833,265
Cash and cash equivalents at beginning of period			10,261,671
Cash and cash equivalents at end of period		10,261,671	28,094,936
Supplemental disclosure of non-cash investing and financing activities:
Common stock issued to former parent for acquired assets		4,000
Accrued offering costs		30,456
Accrued dividend		728,350	875,359
Conversion of Series A Preferred Stock (including accrued dividends) to common stock			21,287,907
Offering costs netted with proceeds from IPO			97,312
Deemed dividend for beneficial conversion feature of Series A Preferred Stock			$ 23,929,751

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2019
Organization and Description of Business [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	Note 1 – ORGANIZATION AND DESCRIPTION of business TFF Pharmaceuticals, Inc. (the "Company") was incorporated in the State of Delaware on January 24, 2018 by Lung Therapeutics, Inc. ("LTI"), at which time the Company and LTI entered into a Contribution and Subscription Agreement ("Contribution Agreement") pursuant to which LTI agreed to transfer to the Company certain of LTI's non-core intellectual property rights and other assets, including LTI's rights under a patent license agreement with the University of Texas at Austin (see, Note 5), in exchange for 4,000,000 shares of the Company's common stock. The transactions under the Contribution Agreement closed in March 2018. LTI's basis in such assets were minimal. LTI is an early-stage biotechnology company focused on the development of certain technologies in the pulmonary field. The Company's initial focus is on the development of inhaled dry powder drugs to enhance the treatment of pulmonary diseases and conditions. In December 2019, the Company established a wholly-owned Australian subsidiary, TFF Pharmaceuticals Australia Pty Ltd ("TFF Australia"), in order to conduct clinical research. TFF Pharmaceuticals, Inc., along with TFF Australia, are collectively referred to as the "Company". The Company is in the development stage, having not yet started planned principal operations, and is devoting substantially all of its efforts toward technology research and development. In October 2019, the Company completed an initial public offering ("IPO"), selling 4,400,000 shares of common stock at an offering price of $5.00 per share. The Company received gross proceeds of approximately $22,000,000 (see Note 7). In addition, the Company granted the underwriter a 45-day option to purchase an additional 660,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The option was exercised in November 2019 and the underwriter purchased an additional 479,300 shares of common stock and the Company received additional gross proceeds of approximately $2,397,000. The accompanying financial statements of the Company for the period from January 1, 2018 to January 23, 2018 reflect the historical results of operations, changes in net investment and cash flows of the operations for the assets acquired by the Company from LTI, the Company's former parent. These financial statements have been derived from the accounting records of LTI and should be read in conjunction with the accompanying notes thereto. The operations surrounding the acquired assets is deemed to be the Company's predecessor prior to January 24, 2018, the deemed date of acquisition. These financial statements do not necessarily reflect what the results of operations, financial position, or cash flows would have been had the Company been a separate entity during the periods prior to January 24, 2018 nor are they indicative of future results of the Company. All of the assets, liabilities and results of operations of the Company as of and for the period ended January 23, 2018 were identified based on the assets acquired by the Company from LTI. Management believes the assumptions underlying the Company's carve-out financial statements are reasonable. Nevertheless, the financial statements may not include all of the actual expenses that would have been incurred had the Company operated as a standalone company during the periods presented, and may not reflect the Company's results of operations, financial position and cash flows had the Company operated as a standalone company during the periods presented. Actual costs that would have been incurred if the Company had operated as a standalone company would depend on multiple factors, including organizational structure and strategic decisions made in various areas, including information technology and infrastructure.

Liquidity and Management's Plan

Liquidity and Management's Plans	12 Months Ended
	Dec. 31, 2019
Liquidity and Managements Plans [Abstract]
LIQUIDITY AND MANAGEMENT'S PLANS	Note 2 - Liquidity and Management's Plans As of December 31, 2019, the Company had cash and cash equivalents of approximately $28,095,000 and a working capital surplus of approximately $28,777,000. The Company has not generated revenues since inception and has incurred recurring operating losses. The Company expects to continue incurring losses for the foreseeable future and may need to raise additional capital to pursue its product development. The Company expects to further increase its research and development activities, which will increase the amount of cash utilized subsequent to December 31, 2019. Specifically, the Company expects increased spending on research and development activities and higher payroll expenses as it increases its professional and scientific staff and continues to prepare for anticipated manufacturing activities. The Company currently believes its existing cash and cash equivalents will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next 12 months from the date of issuance of these consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company's consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America ("GAAP") and the rules and regulations of the Securities and Exchange Commission ("SEC") and reflect the financial position, results of operations and cash flows for all periods presented. Principles of Consolidation The consolidated financial statements include the accounts of TFF Pharmaceuticals, Inc. and its wholly-owned subsidiary, TFF Australia. All material intercompany accounts and transactions have been eliminated in consolidation. Financial Statements The financial statements for the periods from January 1, 2018 through January 23, 2018 (predecessor) have been prepared using the accounting records of LTI. All material inter-company balances and transactions have been eliminated. Deferred Offering Costs The Company complies with the requirements of Accounting Standards Codification ("ASC") 340, Other Assets and Deferred Costs Cash and Cash Equivalents The Company maintains its operating accounts in a single financial institution. The balances are insured by the U.S. Federal Deposit Insurance Corporation ("FDIC") up to specified limits. The Company's cash is maintained in checking accounts and money market funds with maturities of less than three months when purchased, which are readily convertible to known amounts of cash, and which in the opinion of management are subject to insignificant risk of loss in value. Fair Value of Financial Instruments Authoritative guidance requires disclosure of the fair value of financial instruments. The Company's financial instruments consist of cash and cash equivalents and accounts payable, the carrying amounts of which approximate their estimated fair values primarily due to the short-term nature of the instruments or based on information obtained from market sources and management estimates. The Company measures the fair value of certain of its financial assets and liabilities on a recurring basis. A fair value hierarchy is used to rank the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value which is not equivalent to cost will be classified and disclosed in one of the following three categories: Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities. Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as unadjusted quoted prices for similar assets and liabilities, unadjusted quoted prices in the markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Income Taxes In accordance with authoritative guidance, deferred tax assets and liabilities are recorded for temporary differences between the financial reporting and tax bases of assets and liabilities using the current enacted tax rate expected to be in effect when the differences are expected to reverse. A valuation allowance is recorded on deferred tax assets unless realization is considered more likely than not. The Company evaluates its tax positions taken or expected to be taken in the course of preparing the Company's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the "more-likely-than-not" threshold are not recorded as a tax benefit or expense in the current year. The Company recognizes interest and penalties, if any, related to uncertain tax positions in interest expense. No interest and penalties related to uncertain tax positions were accrued at either December 31, 2019 or 2018. The Company follows authoritative guidance which requires the evaluation of existing tax positions. The Company files in the federal and various state jurisdictions. Management has analyzed all open tax years, as defined by the statute of limitations, for all major jurisdictions. Open tax years are those that are open for examination by taxing authorities. The Company was incorporated during 2018 which is the only open year at this time. Research and Development Expenses In accordance with authoritative guidance, the Company charges research and development costs to operations as incurred. Research and development expenses consist of personnel costs for the design, development, testing and enhancement of the Company's technology, and certain other allocated costs, such as depreciation and other facilities related expenditures. Basic and Diluted Earnings per Common Share Basic net loss per common share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and dilutive share equivalents outstanding for the period, determined using the treasury-stock and if-converted methods. Since the Company has had net losses for all periods presented, all potentially dilutive securities are anti-dilutive. Basic weighted average shares outstanding for the year ended December 31, 2019 and the period from January 24, 2018 to December 31, 2018 include 400,000 shares underlying a warrant to purchase common shares. As the shares underlying this warrant can be issued for little consideration (an aggregate exercise price of $0.01 per share), these shares are deemed to be issued for purposes of basic earnings per share. For the year ended December 31, 2019 and the period from January 24, 2018 to December 31, 2018, the Company had the following potential common stock equivalents outstanding which were not included in the calculation of diluted net loss per common share because inclusion thereof would be anti-dilutive: Year Ended Period from January 24, December 31, December 31, Stock Options 2,139,078 1,073,082 Series A Convertible Preferred Stock* — 5,953,340 Warrants 1,076,463 658,212 3,215,541 7,684,634 * On an as-converted basis Common Stock Warrants The Company classifies as equity any warrants that (i) require physical settlement or net-share settlement or (ii) provide the Company with a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the Company's control), (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement) or (iii) that contain reset provisions that do not qualify for the scope exception. The Company assesses classification of its common stock warrants and other freestanding derivatives at each reporting date to determine whether a change in classification between assets and liabilities is required. The Company's freestanding derivatives consist of warrants to purchase common stock that were issued in connection with services provided to the Company. The Company evaluated these warrants to assess their proper classification and determined that the common stock warrants meet the criteria for equity classification in the consolidated balance sheet. Such warrants are measured at fair value, which the Company determines using the Black-Scholes-Merton option-pricing model. Beneficial Conversion Feature On the date of the IPO, the outstanding Series A Convertible Preferred Stock ("Series A Preferred Stock"), and related accrued and unpaid dividends, automatically converted into shares of the Company's common stock. The conversion share calculation was based on the $2.50 initial issuance price for the Series A Preferred Stock plus any accrued but unpaid dividends and converted to common stock using a stated divisor conversion price equal to 50% of the IPO price to the public, which was $5.00 per share. In accordance with relevant accounting literature, since the stated terms of the conversion option did not permit the Company to compute the additional number of shares that it would need to issue upon conversion of the Series A Preferred Stock when the contingent event occurred, the Company recorded the beneficial conversion amount of approximately $23,930,000 as a deemed dividend at the date of the IPO. Stock-Based Compensation The Company computes stock-based compensation in accordance with authoritative guidance. The Company uses the Black-Scholes-Merton option-pricing model to determine the fair value of its stock options. The Black-Scholes-Merton option-pricing model includes various assumptions, including the fair market value of the common stock of the Company, expected life of stock options, the expected volatility and the expected risk-free interest rate, among others. These assumptions reflect the Company's best estimates, but they involve inherent uncertainties based on market conditions generally outside the control of the Company. As a result, if other assumptions had been used, stock-based compensation cost, as determined in accordance with authoritative guidance, could have been materially impacted. Furthermore, if the Company uses different assumptions on future grants, stock-based compensation cost could be materially affected in future periods. The Company accounts for the fair value of equity instruments issued to non-employees using either the fair value of the services received or the fair value of the equity instrument, whichever is considered more reliable . Parent Net Deficit LTI's net investment in the Company's business is presented as "Parent Net Deficit" in lieu of stockholders' equity in the Statement of Stockholders' Equity (Deficit). The changes in Parent's Net Deficit on the Statement of Stockholders' Equity (Deficit) include net cash transfers between LTI and the Company. LTI performed cash management and other treasury-related functions on a centralized basis for all of its divisions, which included the Company. Liabilities recorded by LTI, whose related expenses were pushed down to the Company, are included in Parent Net Deficit. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates include the fair value of stock-based compensation and warrants, valuation allowance against deferred tax assets and related disclosures. Actual results could differ from those estimates. Recent Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-02, Leases (Topic 842) Codification Improvements to Topic 842, Leases Leases (Topic 842): Targeted Improvements. Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): I. Accounting for Certain Financial Instruments with Down Round Features; II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception In June 2018, the FASB issued ASU No. 2018-07, Compensation — Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In August 2018, the FASB issued ASU 2018-13, " Fair Value Measurement

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 4 - COMMITMENTS AND CONTINGENCIES Operating Leases In October 2018, the Company entered into a lease agreement for office space in Doylestown, Pennsylvania. The lease commenced on October 15, 2018 and the Company exercised a one-year lease renewal in October 2019 that will expire on October 31, 2020. The lease has an additional one-year option for renewal, and the base rent is $36,000 per year. Approximate future minimum lease payments required under the operating leases are as follows: Year ending December 31, Amount 2020 $ 30,000 Legal The Company may be involved, from time to time, in legal proceedings and claims arising in the ordinary course of its business. Such matters are subject to many uncertainties and outcomes and are not predictable with assurance. While management believes that such matters are currently insignificant, matters arising in the ordinary course of business for which the Company is or could become involved in litigation may have a material adverse effect on its business and financial condition. To the Company's knowledge, neither the Company nor any of its properties are subject to any pending legal proceedings.

License and Agreements

License and Agreements	12 Months Ended
	Dec. 31, 2019
License and Agreements [Abstract]
LICENSE AND AGREEMENTS	NOTE 5 - LICENSE AND AGREEMENTS In July 2015, the University of Texas at Austin ("UT") granted to the Company's former parent, LTI, an exclusive worldwide, royalty bearing license to the patent rights for the TFF platform in all fields of use, other than vaccines for which LTI received a non-exclusive worldwide, royalty bearing license to the patent rights for the TFF platform. In March 2018, LTI completed an assignment to the Company all of its interest to the TFF platform, including the patent license agreement with UT, at which time the Company paid UT an assignment fee of $100,000 in accordance with the patent license agreement. In November 2018, the Company and UT entered into an amendment to the patent license agreement pursuant to which, among other things, the Company's exclusive patent rights to the TFF platform were expanded to all fields of use. The patent license agreement requires the Company to pay royalties and milestone payments and conform to a variety of covenants and agreements, and in the event of the Company's breach of agreement, UT may elect to terminate the agreement. For the period ended December 31, 2018, the Company did not achieve any of the milestones and, as such, was not required to make any milestone payments. For the year ended December 31, 2019, the Company achieved one milestone by gaining IND approval on first indication of a licensed product on November 24, 2019. The milestone fee associated with this achievement to be paid is $50,000 and the Company must issue UT common shares equal to 1% of the Company's outstanding shares of common stock, on a fully diluted basis, as of 30 days after IND approval, which was December 24, 2019. The total amount of common shares due and payable on December 31, 2019 to UT are 220,666 common shares, which have a fair value of approximately $1,132,000 based on the closing stock price of $5.13 on December 24, 2019. As of December 31, 2019, the Company has not paid the $50,000 or issued the shares and has included the $50,000 in accounts payable and the share amount due as a research and development expense payable. The Company paid the $50,000 and issued the shares in January 2020. As of the date of these consolidated financial statements, the Company is in compliance with the patent license agreement as all required amounts have been paid in accordance with the agreement. In June 2018, the Company entered into a one-year agreement with Patheon Development Services, Inc. to provide initial contract manufacturing services for the Company's drug product candidates. The fees payable for contract manufacturing services under this agreement total $273,000, with no minimum fee requirement. During the years ended December 31, 2019 and 2018, the Company recorded costs associated with this agreement of $81,000 and $192,000, respectively, as research and development costs. In May 2018, the Company entered into a master services agreement and associated individual study contracts with ITR Canada, Inc. ("ITR") to provide initial contract pre-clinical research and development services for the Company's drug product candidates. The fees payable for pre-clinical research and development services under these study contracts totaled $1,790,000, with no minimum fee requirement. In January 2019, the Company cancelled all of the individual study contracts with ITR and entered into a contract with Canada Inc. (dba VJO Non-Clinical Development ("VJO")) to complete additional pre-clinical research and development services in order to take advantage of eligible Canadian Tax Credits. The services related to the contract with VJO were sub-contracted to ITR under substantially the same terms as the initial contract with ITR, with fees payable for the services under this contract totaling $4,412,000, as amended. During the years ended December 31, 2019 and 2018, the Company recorded research and development costs of approximately $2,745,000 and $273,000, respectively. In April 2019, the Company entered into a master services agreement with Irisys, LLC to provide contract manufacturing services for one of the Company's drug product candidates, Voriconazole. The fees payable for contract manufacturing services under this agreement total $1,352,000, as amended, with additional pass-through costs. During the year ended December 31, 2019, the Company recorded costs associated with this agreement of approximately $886,000 as research and development costs. In June 2019, the Company entered into a master services agreement with CoreRx to provide contract manufacturing services for one of the Company's drug product candidates, Tacrolimus. The fees payable for contract manufacturing services under this agreement total $918,794, as amended, with additional pass-through costs. During the year ended December 31, 2019, the Company recorded costs associated with this agreement of approximately $290,000 as research and development costs. In August 2019, the Company entered into a master services agreement and associated individual study contracts with Conform Clinical Development, Inc. and its affiliate, Les Entreprises Envie Inc. (dba Envie Ventures), which sub-contracted with Inflamax Research Limited (dba Cliantha Research ("Cliantha")) to perform a Phase 1 study of one of the Company's drug candidates, Voriconazole. The fees payable for the services under this contract total approximately $1,258,400, as amended, as amended. During the year ended December 31, 2019, the Company recorded costs associated with this contract of approximately $977,000 as research and development costs.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 - RELATED PARTY TRANSACTIONS On March 22, 2018, the Company raised financing through a private placement of Series A preferred stock (as further discussed in Note 7). Certain of the Company's officers and directors participated in the private placement in the aggregate amount of $125,000, representing 0.88% of the Series A preferred stock sold by the Company.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
STOCKHOLDERS' EQUITY (DEFICIT)	NOTE 7 – STOCKHOLDERS' EQUITY (DEFICIT) Common Stock In October 2019, the Company completed an IPO, selling 4,400,000 shares of common stock at an offering price of $5.00 per share. The Company received gross proceeds of approximately $22,000,000. In addition, the Company granted the underwriter a 45-day option to purchase an additional 660,000 shares of common stock at the initial public offering price. The option was exercised and the underwriter purchased an additional 479,300 shares of common stock and the Company received additional gross proceeds of approximately $2,397,000. The Company received net proceeds from the IPO and the underwriter's purchase of additional shares of approximately $21,754,000, after deducting underwriting discounts and commissions and offering-related expenses. Warrants for 317,155 shares of the Company's common stock were issued to the IPO underwriter at an exercise price of $6.25 per share as part of the underwriter's compensation for the IPO. The estimated fair value of the warrants of approximately $977,000 was considered an offering cost and netted against additional paid-in capital. In conjunction with the IPO, the Company's outstanding shares of Series A Preferred Stock automatically converted into 9,571,692 shares of its common stock (see below). Also in conjunction with the issuance of shares in the IPO, the Company granted options to officers and directors to purchase 627,984 shares of common stock at an exercise price of $5.00. Series A Convertible Preferred Stock The Company is authorized to issue up to 10,000,000 shares of preferred stock, $0.001 par value, all of which has been designated as Series A Preferred Stock and has a stated value of $2.50 per share. As of December 31, 2019 and 2018, there are 0 and 5,662,000 shares, respectively, issued and outstanding. The Series A Preferred Stock ranks senior to common stock with respect to dividends rights and liquidation preferences and has full voting rights. The Series A Preferred Stock accrues a dividend at a rate of 6% per annum, and such amount aggregated $0 and $728,350 as of December 31, 2019 and 2018, respectively. Dividends accrued during the periods ended December 31, 2019 and 2018 were $875,359 and $728,350, respectively. Pursuant to the Company's amended and restated certificate of incorporation, holders of the Series A Preferred Stock have the following methods of conversion: (i) automatic conversion into common stock upon the consummation of an IPO at a conversion price of 50% of the IPO price, (ii) automatic conversion into common stock upon the consummation of a subsequent private placement of securities at a conversion price of 50% of the purchase price of the securities being sold by the Company approved by the holders of the Series A preferred stock, and (iii) at any time after the issuance date and until ten calendar days prior to the consummation of an IPO, each holder shall be entitled to convert into common stock at a conversion price of $2.50 per share. The Series A Preferred Stock automatically converted into 9,571,692 common shares upon completion of the IPO in October 2019, based on the number of shares of Series A Preferred Stock outstanding as of the date of the IPO. The conversion share calculation was based on the $2.50 initial issue price for the Series A Preferred Stock plus $1,603,709 of accrued and unpaid dividends and automatically converted into shares of the Company's common stock using a stated divisor conversion price equal to 50% of the IPO price to the public which was $5.00 per share. In accordance with relevant accounting literature, since the terms of the conversion option did not permit the Company to compute the additional number of shares that it would need to issue upon conversion of the Series A Preferred when the contingent event occurred, the Company recorded the beneficial conversion amount of approximately $23,930,000 as a deemed dividend at the date of the IPO. 2018 Private Placement In March 13, 2018, the Company entered into a securities purchase agreement with various accredited investors to raise gross proceeds of $14.2 million in a private placement (the "2018 Private Placement"). On March 22, 2018, the Company completed the 2018 Private Placement, issuing 5,662,000 shares of its Series A Preferred Stock. The shares of the Series A Preferred Stock were sold for $2.50 per share. The Company received net proceeds of approximately $12.5 million from the 2018 Private Placement, after paying placement agent fees and offering expenses. The Series A Preferred Stock was accounted for under Section 480-10-S99 — Distinguishing Liabilities from Equity (FASB Accounting Standards Codification 480) as amended by ASU 2009-04 — for Redeemable Equity Instruments In connection with, and upon closing of, the 2018 Private Placement, the Company issued 4,000,000 shares of common stock to LTI in consideration of LTI's assignment of the acquired assets consisting of certain patent license rights and other valuable consideration. LTI's basis in such assets was minimal. 2019 Private Placement In May 2019, the Company entered into a securities purchase agreement with various accredited investors to raise gross proceeds of $8.2 million in a private placement (the "2019 Private Placement"), issuing 3,268,000 shares of its Series A Preferred Stock. The shares of the Series A Preferred Stock were sold for $2.50 per share. The Company received net proceeds of approximately $7.2 million from the 2019 Private Placement, after paying placement agent fees and offering expenses.

Warrants

Warrants	12 Months Ended
	Dec. 31, 2019
Warrants [Abstract]
WARRANTS	NOTE 8 – WARRANTS On January 26, 2018 the Company issued a five-year warrant to purchase 400,000 shares of common stock at $0.01 per share to Liquid Patent Advisors, LLC ("LPA"). The warrant represented consideration for business and strategic development performed during 2018. The fair value of the warrant on the grant date was estimated using the Black-Scholes-Merton option pricing model with a common stock value of $1.67 per share, a contractual life of 2.5 years, a dividend yield of 0%, a volatility of 102.4% and an assumed risk-free interest rate of 2.19%. The fair value of the warrant was determined to be $664,224 and is included in general and administrative expenses in the statement of operations. On March 13, 2018 and March 22, 2018, the Company issued to National Securities Corporation warrants to purchase shares of the Company's common stock in an amount equal to 10% of the shares of common stock issuable upon conversion of 5,662,000 shares of the Company's Series A Preferred Stock. The warrants represented placement agent compensation in connection with the 2018 Private Placement. The fair value of the warrants on the grant date was estimated using the Black-Scholes-Merton option pricing model with a common stock value of $1.67 per share, a contractual life of 2.5 years, a dividend yield of 0%, a volatility of 102.4% and an assumed risk-free interest rate of 2.36%. The fair value of the warrants was determined to be $480,485 and is included in general and administrative expenses in the statement of operations. In connection with the conversion of the Series A Preferred Stock as a result of the IPO, the Company issued additional warrants to purchase 53,679 shares of common stock. The additional warrants were considered offering costs and netted with the proceeds from the IPO. On April 6, 2018, the Company issued a five-year warrant to purchase 10,000 shares of common stock at $2.50 per share to BP Directors, LP ("BP"). The warrant represented consideration for board service from Dr. Aaron Fletcher. The fair value of the warrant on the grant date was estimated using the Black-Scholes-Merton option pricing model with a common stock value of $1.67 per share, a contractual life of 5.5 years, a dividend yield of 0%, a volatility of 89% and an assumed risk-free interest rate of 2.58%. The warrant vests and is being amortized over a one-year period. The fair value of the warrant was determined to be $11,075 and has been amortized in general and administrative expenses in the consolidated statements of operations. On September 26, 2018, the Company issued a ten-year warrant to purchase 82,012 shares of common stock at $2.50 per share to BP. The warrant represented consideration for board service from Dr. Aaron Fletcher. The fair value of the warrant on the grant date was estimated using the Black-Scholes-Merton option pricing model with a common stock value of $1.67 per share, a contractual life of 6.3 years, a dividend yield of 0%, a volatility of 93.5% and an assumed risk-free interest rate of 2.96%. The warrant vests and is being amortized over a one-year period. The fair value of the warrant was determined to be $100,293 and has been amortized in general and administrative expenses in the consolidated statements of operations. On May 16, 2019 and May 23, 2019, the Company issued to National Securities Corporation 326,800 warrants to purchase shares of the Company's common stock. The fair value of the warrants on the grant date was estimated using the Black-Scholes-Merton option pricing model with a common stock value of $1.67 per share, a contractual life of 5 years, a dividend yield of 0%, a volatility of 89.6% and an assumed risk-free interest rate of 2.11%. The fair value of the warrants was determined to be approximately $347,000 and was included in general and administrative expenses in the statement of operations. On September 13, 2019, these warrants were cancelled by the individual warrant holders and the Company determined that the related expense should be reversed. The reversal of the expense was recorded during the three months ended September 30, 2019, when the warrants were cancelled. On October 29, 2019, the Company issued a ten-year warrant to purchase 43,794 shares of common stock at $5.00 per share to BP. The warrant represented consideration for board service from Dr. Aaron Fletcher. The fair value of the warrant on the grant date was estimated using the Black-Scholes-Merton option pricing model with a common stock value of $5.01 per share, a contractual life of 6.0 years, a dividend yield of 0%, a volatility of 88.48% and an assumed risk-free interest rate of 1.70%. The warrant is subject to a 25% cliff vesting at one year from the date of grant and the balance vesting quarterly over the following two years. The fair value of the warrant was determined to be $161,419 and $6,726 has been amortized in general and administrative expenses in the consolidated statements of operations during the year ended December 31, 2019. On November 26, 2019, the Company issued to National Securities Corporation and its representatives underwriter warrants to purchase 317,155 shares of the Company's common stock in connection with the IPO. The exercise price of the warrants is $6.25 per share, each has a contractual life of 5 years and they are not exercisable for one year from the date of grant. On November 29, 2019, the Company issued a ten-year warrant to purchase 3,623 shares of common stock at $5.00 per share to BP. The warrant represented consideration for board service from Dr. Aaron Fletcher. The fair value of the warrant on the grant date was estimated using the Black-Scholes-Merton option pricing model with a common stock value of $5.26 per share, a contractual life of 6.0 years, a dividend yield of 0%, a volatility of 90.16% and an assumed risk-free interest rate of 1.68%. The warrant is subject to a 25% cliff vesting at one year from the date of grant and the balance vesting quarterly over the following two years. The fair value of the warrant was determined to be $14,300 and $298 has been amortized in general and administrative expenses in the consolidated statements of operations during the year ended December 31, 2019. In determining the fair value for warrants, the expected life of the Company's warrants was determined using the contractual life. The methodology in determining all other inputs to calculate the fair value utilizing the Black-Scholes-Merton option pricing model is the same as the stock option methodology described in Note 9 for stock options. A summary of warrant activity for the periods ended December 31, 2019 and 2018 is as follows: Number of Shares Range of Exercise Prices Weighted-Average Exercise Prices Weighted-Average Remaining Life Outstanding at January 1, 2018 — $ — $ — — Issued 1,058,212 0.01 – $2.50 1.56 — Outstanding at December 31, 2018 1,058,212 0.01 – 2.50 1.56 4.6 Issued 745,051 1.67 – 6.25 4.26 — Cancelled (326,800 ) 2.50 2.50 — Outstanding at December 31, 2019 1,476,463 $ 0.01 – $6.25 $ 2.71 4.1 The warrants outstanding at December 31, 2019 had an aggregate intrinsic value of approximately $4,181,000.

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	NOTE 9 – STOCK BASED COMPENSATION In January 2018, the Company's board of directors approved its 2018 Stock Incentive Plan ("2018 Plan"). The 2018 Plan provides for the grant of non-qualified stock options and incentive stock options to purchase shares of the Company's common stock, the grant of restricted and unrestricted share awards and grant of restricted stock units. The 2018 Plan provides for the issuance of 1,630,000 shares of common stock. All of the Company's employees and any subsidiary employees (including officers and directors who are also employees), as well as all of the Company's nonemployee directors and other consultants, advisors and other persons who provide services to the Company will be eligible to receive incentive awards under the 2018 Plan. The following table summarizes the stock-based compensation expense recorded in the Company's results of operations during the years ended December 31, 2019 and 2018 for stock options and warrants: Year Ended Period from January 24, December 31, December 31, Research and development $ — $ — General and administrative 590,041 1,329,074 $ 590,041 $ 1,329,074 As of December 31, 2019, there was approximately $3,940,461 of total unrecognized compensation expense related to non-vested share-based compensation arrangements that are expected to vest. This cost is expected to be recognized over a weighted-average period of 3.1 years. The Company records compensation expense for employee awards with graded vesting using the straight-line method. The Company records compensation expense for nonemployee awards with graded vesting using the accelerated expense attribution method. The Company recognizes compensation expense over the requisite service period applicable to each individual award, which generally equals the vesting term. The Company estimates the fair value of each option award using the Black-Scholes-Merton option pricing model. Forfeitures are recognized when realized. The Company estimated the fair value of employee and non-employee stock options using the Black-Scholes option pricing model. The fair value of employee stock options is being amortized on a straight-line basis over the requisite service periods of the respective awards. The fair value of employee stock options issued was estimated using the following weighted-average assumptions: Year Ended Year Ended Weighted average exercise price $ 4.42 $ 2.50 Weighted average grant date fair value $ 3.08 $ 1.21 Assumptions Expected volatility 88-90 % 92.24 % Weighted average expected term (in years) 6.3 6.26 Risk-free interest rate 1.68-2.31 % 2.93 % Expected dividend yield 0.00 % 0.00 % The risk-free interest rate was obtained from U.S. Treasury rates for the applicable periods. The Company's expected volatility was based upon the historical volatility for industry peers and used an average of those volatilities. The expected life of the Company's options was determined using the simplified method as a result of limited historical data regarding the Company's activity. The dividend yield considers that the Company has not historically paid dividends, and does not expect to pay dividends in the foreseeable future. For grants prior to the IPO, the fair value of the common stock was determined by the board of directors based on a variety of factors, including valuations prepared by third parties, the Company's financial position, the status of development efforts within the Company, the current climate in the marketplace and the prospects of a liquidity event, among others. For grants after the IPO, the Company uses the closing stock price on the date of grant as the fair value of the common stock. The following table summarizes stock option activity during the periods ended December 31, 2019 and 2018: Number of Shares Weighted- Weighted- Intrinsic Value Outstanding at January 1, 2018 — $ — — $ — Granted 1,073,082 2.50 — — Outstanding at December 31, 2018 1,073,082 2.50 9.64 $ — Granted 1,065,996 4.42 — — Outstanding at December 31, 2019 2,139,078 $ 3.46 9.17 $ 4,052,512 Exercisable at December 31, 2019 470,000 $ 2.62 8.71 $ 1,283,560

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 10 – INCOME TAXES The Company had no income tax expense due to operating losses incurred for the years ended December 31, 2019 and 2018. The Company accounts for income taxes in accordance with ASC 740, which requires that the tax benefit of net operating losses, temporary differences and credit carryforwards be recorded as an asset to the extent that management assesses that realization is "more likely than not." Realization of the future tax benefits is dependent on the Company's ability to generate sufficient taxable income within the carryforward period. Because of the Company's recent history of operating losses, management believes that recognition of the deferred tax assets arising from the above-mentioned future tax benefits is currently not likely to be realized and, accordingly, has provided a full valuation allowance. The Company's income tax expense for the periods ended December 31, 2019 and 2018 are summarized below: December 31, December 31, Current: Federal $ - $ - State - - Total current $ - $ - Deferred: Federal $ 2,952,519 $ 862,412 State - - Change in valuation allowance (2,952,519 ) (862,412 ) Total deferred - - Income tax provision (benefit) $ - $ - The Company's deferred tax assets are as follows: December 31, December 31, Deferred tax assets: Net operating loss carryforwards $ 2,789,541 $ 459,522 Research and development tax credit 532,711 59,270 Intangibles 105,580 68,003 Stock compensation 387,098 275,617 Total deferred tax assets 3,814,930 862,412 Valuation allowances (3,814,930 ) (862,412 ) Net deferred tax assets $ - $ - The effective tax rate of the Company's provision (benefit) for income taxes differs from the federal statutory rate as follows: December 31, December 31, Statutory rate 21.00 % 21.00 % State rate 0.00 % 0.00 % Permanent book/tax differences (0.12 %) (0.10 %) Research and development credit 3.99 % 1.54 % Changes in valuation allowance (24.87 %) (22.44 %) Total - - As of December 31, 2019 and 2018, the Company had gross federal income tax net operating loss ("NOL") carryforwards of $13,283,530 and $2,188,203, respectively, and federal research tax credits of $690,525 and $59,270, respectively. Utilization of U.S. net operating losses and tax credit carryforwards may be limited by "ownership change" rules, as defined in Sections 382 and 383 of the Code. Similar rules may apply under state tax laws. The Company has not conducted a study to-date to assess whether a limitation would apply under Sections 382 and 383 of the Code as and when it starts utilizing its net operating losses and tax credits. The Company will continue to monitor activities in the future. In the event the Company previously experienced an ownership change, or should experience an ownership change in the future, the amount of net operating losses and research and development credit carryovers available in any taxable year could be limited and may expire unutilized. Under the Code, the NOL can be carried forward indefinitely and can be used to offset up to 80% of taxable income for losses arising in tax years beginning after December 31, 2017. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax asset will be realized. The ultimate realization of deferred tax assets is dependent upon the Company attaining future taxable income during periods in which those temporary differences become deductible. Due to the uncertainty surrounding the realization of the benefits of its deferred assets, including NOL carryforwards, the Company has provided a 100% valuation allowance on its deferred tax assets at December 31, 2019. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740, Income Taxes A reconciliation of the change in the unrecognized tax positions for the year ended December 31, 2019 is as follows: Federal Balance at December 31, 2018 $ - Additions for tax positions related to current year 157,814 Additions for tax positions related to prior years - Balance at December 31, 2019 $ 157,814

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 – SUBSEQUENT EVENTS The Company has performed an evaluation of events occurring subsequent to December 31, 2019 through the filing date of this Annual Report. Based on its evaluation, nothing other than the events described below need to be disclosed.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company's consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America ("GAAP") and the rules and regulations of the Securities and Exchange Commission ("SEC") and reflect the financial position, results of operations and cash flows for all periods presented.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of TFF Pharmaceuticals, Inc. and its wholly-owned subsidiary, TFF Australia. All material intercompany accounts and transactions have been eliminated in consolidation.
Financial Statements	Financial Statements The financial statements for the periods from January 1, 2018 through January 23, 2018 (predecessor) have been prepared using the accounting records of LTI. All material inter-company balances and transactions have been eliminated.
Deferred Offering Costs	Deferred Offering Costs The Company complies with the requirements of Accounting Standards Codification ("ASC") 340, Other Assets and Deferred Costs
Cash and Cash Equivalents	Cash and Cash Equivalents The Company maintains its operating accounts in a single financial institution. The balances are insured by the U.S. Federal Deposit Insurance Corporation ("FDIC") up to specified limits. The Company's cash is maintained in checking accounts and money market funds with maturities of less than three months when purchased, which are readily convertible to known amounts of cash, and which in the opinion of management are subject to insignificant risk of loss in value.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Authoritative guidance requires disclosure of the fair value of financial instruments. The Company's financial instruments consist of cash and cash equivalents and accounts payable, the carrying amounts of which approximate their estimated fair values primarily due to the short-term nature of the instruments or based on information obtained from market sources and management estimates. The Company measures the fair value of certain of its financial assets and liabilities on a recurring basis. A fair value hierarchy is used to rank the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value which is not equivalent to cost will be classified and disclosed in one of the following three categories: Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities. Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as unadjusted quoted prices for similar assets and liabilities, unadjusted quoted prices in the markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Income Taxes	Income Taxes In accordance with authoritative guidance, deferred tax assets and liabilities are recorded for temporary differences between the financial reporting and tax bases of assets and liabilities using the current enacted tax rate expected to be in effect when the differences are expected to reverse. A valuation allowance is recorded on deferred tax assets unless realization is considered more likely than not. The Company evaluates its tax positions taken or expected to be taken in the course of preparing the Company's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the "more-likely-than-not" threshold are not recorded as a tax benefit or expense in the current year. The Company recognizes interest and penalties, if any, related to uncertain tax positions in interest expense. No interest and penalties related to uncertain tax positions were accrued at either December 31, 2019 or 2018. The Company follows authoritative guidance which requires the evaluation of existing tax positions. The Company files in the federal and various state jurisdictions. Management has analyzed all open tax years, as defined by the statute of limitations, for all major jurisdictions. Open tax years are those that are open for examination by taxing authorities. The Company was incorporated during 2018 which is the only open year at this time.
Research and Development Expenses	Research and Development Expenses In accordance with authoritative guidance, the Company charges research and development costs to operations as incurred. Research and development expenses consist of personnel costs for the design, development, testing and enhancement of the Company's technology, and certain other allocated costs, such as depreciation and other facilities related expenditures.
Basic and Diluted Earnings per Common Share	Basic and Diluted Earnings per Common Share Basic net loss per common share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and dilutive share equivalents outstanding for the period, determined using the treasury-stock and if-converted methods. Since the Company has had net losses for all periods presented, all potentially dilutive securities are anti-dilutive. Basic weighted average shares outstanding for the year ended December 31, 2019 and the period from January 24, 2018 to December 31, 2018 include 400,000 shares underlying a warrant to purchase common shares. As the shares underlying this warrant can be issued for little consideration (an aggregate exercise price of $0.01 per share), these shares are deemed to be issued for purposes of basic earnings per share.. For the year ended December 31, 2019 and the period from January 24, 2018 to December 31, 2018, the Company had the following potential common stock equivalents outstanding which were not included in the calculation of diluted net loss per common share because inclusion thereof would be anti-dilutive: Year Ended Period from January 24, December 31, December 31, Stock Options 2,139,078 1,073,082 Series A Convertible Preferred Stock* — 5,953,340 Warrants 1,076,463 658,212 3,215,541 7,684,634 * On an as-converted basis
Common Stock Warrants	Common Stock Warrants The Company classifies as equity any warrants that (i) require physical settlement or net-share settlement or (ii) provide the Company with a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the Company's control), (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement) or (iii) that contain reset provisions that do not qualify for the scope exception. The Company assesses classification of its common stock warrants and other freestanding derivatives at each reporting date to determine whether a change in classification between assets and liabilities is required. The Company's freestanding derivatives consist of warrants to purchase common stock that were issued in connection with services provided to the Company. The Company evaluated these warrants to assess their proper classification and determined that the common stock warrants meet the criteria for equity classification in the consolidated balance sheet. Such warrants are measured at fair value, which the Company determines using the Black-Scholes-Merton option-pricing model.
Beneficial Conversion Feature	Beneficial Conversion Feature On the date of the IPO, the outstanding Series A Convertible Preferred Stock ("Series A Preferred Stock"), and related accrued and unpaid dividends, automatically converted into shares of the Company's common stock. The conversion share calculation was based on the $2.50 initial issuance price for the Series A Preferred Stock plus any accrued but unpaid dividends and converted to common stock using a stated divisor conversion price equal to 50% of the IPO price to the public, which was $5.00 per share. In accordance with relevant accounting literature, since the stated terms of the conversion option did not permit the Company to compute the additional number of shares that it would need to issue upon conversion of the Series A Preferred Stock when the contingent event occurred, the Company recorded the beneficial conversion amount of approximately $23,930,000 as a deemed dividend at the date of the IPO.
Stock-Based Compensation	Stock-Based Compensation The Company computes stock-based compensation in accordance with authoritative guidance. The Company uses the Black-Scholes-Merton option-pricing model to determine the fair value of its stock options. The Black-Scholes-Merton option-pricing model includes various assumptions, including the fair market value of the common stock of the Company, expected life of stock options, the expected volatility and the expected risk-free interest rate, among others. These assumptions reflect the Company's best estimates, but they involve inherent uncertainties based on market conditions generally outside the control of the Company. As a result, if other assumptions had been used, stock-based compensation cost, as determined in accordance with authoritative guidance, could have been materially impacted. Furthermore, if the Company uses different assumptions on future grants, stock-based compensation cost could be materially affected in future periods. The Company accounts for the fair value of equity instruments issued to non-employees using either the fair value of the services received or the fair value of the equity instrument, whichever is considered more reliable .
Parent Net Deficit	Parent Net Deficit LTI's net investment in the Company's business is presented as "Parent Net Deficit" in lieu of stockholders' equity in the Statement of Stockholders' Equity (Deficit). The changes in Parent's Net Deficit on the Statement of Stockholders' Equity (Deficit) include net cash transfers between LTI and the Company. LTI performed cash management and other treasury-related functions on a centralized basis for all of its divisions, which included the Company. Liabilities recorded by LTI, whose related expenses were pushed down to the Company, are included in Parent Net Deficit.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates include the fair value of stock-based compensation and warrants, valuation allowance against deferred tax assets and related disclosures. Actual results could differ from those estimates.
Recent Accounting Standards	Recent Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-02, Leases (Topic 842) Codification Improvements to Topic 842, Leases Leases (Topic 842): Targeted Improvements. Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): I. Accounting for Certain Financial Instruments with Down Round Features; II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception In June 2018, the FASB issued ASU No. 2018-07, Compensation — Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In August 2018, the FASB issued ASU 2018-13, " Fair Value Measurement

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of Basic and Diluted Earnings per Common Share	Year Ended Period from January 24, December 31, December 31, Stock Options 2,139,078 1,073,082 Series A Convertible Preferred Stock* — 5,953,340 Warrants 1,076,463 658,212 3,215,541 7,684,634 * On an as-converted basis

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Future minimum lease payments	Year ending December 31, Amount 2020 $ 30,000

Warrants (Tables)

Warrants (Tables)	12 Months Ended
	Dec. 31, 2019
Warrants [Abstract]
Schedule of warrant activity	Number of Shares Range of Exercise Prices Weighted-Average Exercise Prices Weighted-Average Remaining Life Outstanding at January 1, 2018 — $ — $ — — Issued 1,058,212 0.01 – $2.50 1.56 — Outstanding at December 31, 2018 1,058,212 0.01 – 2.50 1.56 4.6 Issued 745,051 1.67 – 6.25 4.26 — Cancelled (326,800 ) 2.50 2.50 — Outstanding at December 31, 2019 1,476,463 $ 0.01 – $6.25 $ 2.71 4.1

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense stock options and restricted stock	Year Ended Period from January 24, December 31, December 31, Research and development $ — $ — General and administrative 590,041 1,329,074 $ 590,041 $ 1,329,074
Schedule of fair value of employee stock options	Year Ended Year Ended Weighted average exercise price $ 4.42 $ 2.50 Weighted average grant date fair value $ 3.08 $ 1.21 Assumptions Expected volatility 88-90 % 92.24 % Weighted average expected term (in years) 6.3 6.26 Risk-free interest rate 1.68-2.31 % 2.93 % Expected dividend yield 0.00 % 0.00 %
Schedule of stock option activity	Number of Shares Weighted- Weighted- Intrinsic Value Outstanding at January 1, 2018 — $ — — $ — Granted 1,073,082 2.50 — — Outstanding at December 31, 2018 1,073,082 2.50 9.64 $ — Granted 1,065,996 4.42 — — Outstanding at December 31, 2019 2,139,078 $ 3.46 9.17 $ 4,052,512 Exercisable at December 31, 2019 470,000 $ 2.62 8.71 $ 1,283,560

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of income tax expense	December 31, December 31, Current: Federal $ - $ - State - - Total current $ - $ - Deferred: Federal $ 2,952,519 $ 862,412 State - - Change in valuation allowance (2,952,519 ) (862,412 ) Total deferred - - Income tax provision (benefit) $ - $ -
Schedule of deferred tax assets	December 31, December 31, Deferred tax assets: Net operating loss carryforwards $ 2,949,322 $ 459,522 Research and development tax credit 578,448 59,270 Intangibles 105,580 68,003 Stock compensation 387,098 275,617 Total deferred tax assets 4,020,448 862,412 Valuation allowances (4,020,448 ) (862,412 ) Net deferred tax assets $ - $ -
Schedule of provision federal statutory rate	December 31, December 31, Statutory rate 21.00 % 21.00 % State rate 0.00 % 0.00 % Permanent book/tax differences (0.11 %) (0.10 %) Research and development credit 4.11 % 1.54 % Changes in valuation allowance (25.00 %) (22.44 %) Total - -
Schedule of unrecognized tax positions	Federal Balance at December 31, 2018 $ - Additions for tax positions related to current year 157,814 Additions for tax positions related to prior years - Balance at December 31, 2019 $ 157,814

Organization and Description _2

Organization and Description of Business (Details) - USD ($)	1 Months Ended
	Oct. 31, 2019	Dec. 31, 2019
Organization and Description of Business (Textual)
Exchange of common stock		4,000,000
Stock issued	4,400,000
Stock issued, Value	$ 22,000,000
Share price	$ 5
Organization and description of business, description	The Company granted the underwriter a 45-day option to purchase an additional 660,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The option was exercised in November 2019 and the underwriter purchased an additional 479,300 shares of common stock and the Company received additional gross proceeds of approximately $2,397,000.

Liquidity and Management's Pl_2

Liquidity and Management's Plans (Details)	Dec. 31, 2019USD ($)
Liquidity and Management's Plans (Textual)
Cash and cash equivalents	$ 28,095,000
Working capital surplus	$ 28,777,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - shares		11 Months Ended	12 Months Ended
		Dec. 31, 2018	Dec. 31, 2019
Potential common stock equivalents outstanding		7,684,634	3,215,541
Series A Convertible Preferred Stock [Member]
Potential common stock equivalents outstanding	[1]	5,953,340
Stock Options [Member]
Potential common stock equivalents outstanding		1,073,082	2,139,078
Warrants [Member]
Potential common stock equivalents outstanding		658,212	1,076,463
[1]	On an as-converted basis.

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Summary of Significant Accounting Policies (Textual)
Deferred offering costs		$ 127,768
Basic weighted average shares outstanding	400,000
Aggregate exercise price	$ 0.01
Conversion share price	$ 2.50
Conversion price percentage	50.00%
IPO price	$ 5
Beneficial conversion amount	$ 23,930,000

Commitments and Contingencies_2

Commitments and Contingencies (Details)	Dec. 31, 2019USD ($)
Summary of future minimum lease payments
2020	$ 30,000

Commitments and Contingencies_3

Commitments and Contingencies (Detail Textual)	12 Months Ended
	Dec. 31, 2019USD ($)
Commitments and Contingencies (Textual)
Rent Expenses	$ 36,000
Expire Date	October 31, 2020.
Period Of Renewal Option	One year option.

License and Agreements (Details

License and Agreements (Details) - USD ($)

1 Months Ended

3 Months Ended

11 Months Ended

12 Months Ended

Jun. 30, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 24, 2019

Aug. 31, 2019

Jun. 30, 2019

Apr. 30, 2019

Jan. 31, 2019

May 31, 2018

Mar. 31, 2018

License and Agreements (Textual)

Assignment fee

$ 100,000

Milestone fee

$ 50,000

$ 50,000

Common shares outstanding price percentage

1.00%

1.00%

Amount of Common shares due payable

220,666

Fair value of common stock

1,132,000

Closing stock price

$ 5.13

Description of license and agreements

As of December 31, 2019, the Company has not paid the $50,000 or issued the shares and has included the $50,000 in accounts payable and the share amount due as a research and development expense payable. The Company paid the $50,000 and issued the shares in January 2020.

Research and development cost

$ 848,809

$ 8,822,226

Research and development [Member]

License and Agreements (Textual)

Research and development cost

81,000

$ 192,000

Patheon Development Services [Member]

License and Agreements (Textual)

Assignment fee

$ 273,000

Agreement term, description

The Company entered into a one-year agreement with Patheon Development Services, Inc. to provide initial contract manufacturing services for the Company’s drug product candidates.

Master Services [Member]

License and Agreements (Textual)

Assignment fee

$ 4,412,000

$ 1,790,000

Research and development cost

2,746,000

$ 273,000

Irisys, LLC [Member]

License and Agreements (Textual)

Assignment fee

$ 1,352,000

Research and development cost

887,000

CoreRx [Member]

License and Agreements (Textual)

Assignment fee

$ 918,794

Research and development cost

$ 290,000

Conform Clinical Development, Inc. [Member]

License and Agreements (Textual)

Assignment fee

$ 1,258,400

Research and development cost

$ 977,000

Related Party Transactions (Det

Related Party Transactions (Details)	1 Months Ended
	Mar. 22, 2018USD ($)
Related Party Transactions (Textual)
Proceeds from private place	$ 125,000
Related party transaction, description	The Company raised financing through a private placement of Series A preferred stock (as further discussed in Note 7). Certain of the Company’s officers and directors participated in the private placement in the aggregate amount of $125,000, representing 0.88% of the Series A preferred stock sold by the Company.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) (Details) - USD ($)	Mar. 13, 2018	Oct. 31, 2019	Oct. 31, 2019	Oct. 29, 2019	May 31, 2019	Mar. 22, 2018	Dec. 31, 2019	Dec. 31, 2018
Preferred stock Shares authorized							10,000,000	10,000,000
Preferred stock per value							$ 0.001	$ 0.001
Preferred stock Shares issued							0	5,662,000
Preferred stock Shares outstanding							0	5,662,000
Series A preferred stock dividend payable								$ 728,350
Dividend rate							6.00%
Series A Preferred Stock conversion							Holders of the Series A Preferred Stock have the following methods of conversion: (i) automatic conversion into common stock upon the consummation of an IPO at a conversion price of 50% of the IPO price, (ii) automatic conversion into common stock upon the consummation of a subsequent private placement of securities at a conversion price of 50% of the purchase price of the securities being sold by the Company approved by the holders of the Series A Preferred Stock, and (iii) at any time after the issuance date and until ten calendar days prior to the consummation of an IPO, each holder shall be entitled to convert into common stock at a conversion price of $2.50 per share.
Convertible preferred stock terms of conversion							The Series A Preferred Stock automatically converted into 9,571,692 common shares upon completion of the IPO in October 2019, based on the number of shares of Series A Preferred Stock outstanding as of the date of the IPO. The conversion share calculation was based on the $2.50 initial issue price for the Series A Preferred Stock plus $1,603,709 of accrued and unpaid dividends and automatically converted into shares of the Company’s common stock using a stated divisor conversion price equal to 50% of the IPO price to the public which was $5.00 per share. In accordance with relevant accounting literature, since the terms of the conversion option did not permit the Company to compute the additional number of shares that it would need to issue upon conversion of the Series A Preferred when the contingent event occurred, the Company recorded the beneficial conversion amount of approximately $23,930,000 as a deemed dividend at the date of the IPO.
Gross proceeds						$ 125,000
Preferred stock Share sold							$ 5
Common stock issued							18,450,992	4,000,000
Purchase of common stock			4,400,000
2018 Private Placement [Member]
Gross proceeds	$ 14,200,000
Net proceeds					$ 7,200,000
Common stock issued								4,000,000
IPO [Member]
Stockholders equity deficit, description				The Company completed an IPO, selling 4,400,000 shares of common stock at an offering price of $5.00 per share. The Company received gross proceeds of approximately $22,000,000. In addition, the Company granted the underwriter a 45-day option to purchase an additional 660,000 shares of common stock at the initial public offering price. The option was exercised and the underwriter purchased an additional 479,300 shares of common stock and the Company received additional gross proceeds of approximately $2,397,000. The Company received net proceeds from the IPO and the underwriter's purchase of additional shares of approximately $21,754,000, after deducting underwriting discounts and commissions and offering-related expenses. Warrants for 317,155 shares of the Company's common stock were issued to the IPO underwriter at an exercise price of $6.25 per share as part of the underwriter's compensation for the IPO. The estimated fair value of the warrants of approximately $977,000 was considered an offering cost and netted against additional paid-in capital.
IPO [Member] | Officers and Directors [Member]
Purchase of common stock		627,984
Exercise price		$ 5	$ 5
Series A Convertible Preferred Stock [Member]
Preferred stock Shares authorized							10,000,000
Preferred stock per value							$ 0.001
Preferred stock Shares issued							0	0
Preferred stock Shares outstanding							5,662,000	5,662,000
Dividends accrued							$ 728,350	$ 875,359
Preferred stock per share							$ 2.50
Series A Preferred Stock [Member]
Dividends accrued							$ 0	$ 728,350
Series A Preferred Stock [Member] | 2018 Private Placement [Member]
Preferred stock Shares issued					3,268,000	5,662,000
Preferred stock Share sold					$ 2.50	$ 2.50
Net proceeds						$ 12,500,000
Series A Preferred Stock [Member] | IPO [Member]
Convertible Preferred Stock		9,571,692	9,571,692

Warrants (Details)

Warrants (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Number of Shares, Outstanding, beginning	1,476,463	1,058,212
Number of Shares, issued	745,051	1,058,212
Number of Shares, cancelled	(326,800)
Number of Shares, Outstanding, end	1,476,463	1,058,212
Range of Exercise Prices, Outstanding, beginning
Range of Exercise Prices, cancelled	$ 2.50
Weighted-Average Exercise Prices, Outstanding, beginning	2.71	1.56
Weighted-Average Exercise Prices, Issued	4.26	1.56
Weighted-Average Exercise Prices, cancelled	2.50
Weighted-Average Exercise Prices, Outstanding, end	$ 2.71	$ 1.56
Weighted-Average Remaining Life, Outstanding, beginning	4 years 7 months 6 days
Weighted-Average Remaining Life, Outstanding, end	4 years 1 month 6 days	4 years 7 months 6 days
Minimum [Member]
Range of Exercise Prices, Outstanding, beginning	$ 0.01
Range of Exercise Prices, issued	1.67	$ 0.01
Range of Exercise Prices, Outstanding, end	0.01	0.01
Maximum [Member]
Range of Exercise Prices, Outstanding, beginning	2.50
Range of Exercise Prices, issued	6.25	2.50
Range of Exercise Prices, Outstanding, end	$ 6.25	$ 2.50

Warrants (Details Textual)

Warrants (Details Textual) - USD ($)	Nov. 29, 2019	Nov. 26, 2019	Oct. 29, 2019	Apr. 06, 2018	May 23, 2019	May 16, 2019	Sep. 26, 2018	Mar. 22, 2018	Mar. 13, 2018	Jan. 26, 2018	Dec. 31, 2019	Dec. 31, 2018
Warrants (Textual)
Warrant to purchase share of common stock, per share											$ 0.01
Preferred stock, shares issued											0	5,662,000
Aggregate intrinsic value											$ 4,181,000	$ 4,181,000
Five Year Warrant [Member]
Warrants (Textual)
Warrant to purchase shares of common stock				10,000						400,000
Warrant to purchase share of common stock, per share										$ 0.01
Fair value of warrant				$ 11,075						$ 664,224
Common stock value, per share				$ 1.67						$ 1.67
Contractual life				5 years 6 months						2 years 6 months
Dividend yield				0.00%						0.00%
Volatility				89.00%						102.40%
Risk-free interest rate				2.58%						2.19%
Five Year Warrant [Member] | BP Directors
Warrants (Textual)
Warrant to purchase share of common stock, per share				$ 2.50
National Securities Corporation [Member]
Warrants (Textual)
Warrant to purchase shares of common stock					326,800	326,800
Warrant to purchase share of common stock, per share		$ 6.25
Fair value of warrant					$ 400,000	$ 347,000		$ 480,485	$ 480,485
Purchase of company's amount equal to common stock, percentage								10.00%	10.00%
Common stock value, per share					$ 1.67	$ 1.67		$ 1.67	$ 1.67
Contractual life		5 years			5 years	5 years		2 years 6 months	2 years 6 months
Dividend yield					0.00%	0.00%		0.00%	0.00%
Volatility					89.60%	89.60%		102.40%	102.40%
Risk-free interest rate					2.11%	2.11%		2.36%	2.36%
National Securities Corporation [Member] | IPO [Member]
Warrants (Textual)
Warrant to purchase shares of common stock		317,155
National Securities Corporation [Member] | Series A Preferred Stock [Member]
Warrants (Textual)
Preferred stock, shares issued								5,662,000	5,662,000
Ten Year Warrant [Member]
Warrants (Textual)
Warrant to purchase shares of common stock	3,623		43,794				82,012
Warrant to purchase share of common stock, per share	$ 5.26
Fair value of warrant	$ 14,300		$ 161,419				$ 100,293
Amortized expenses	$ 298		$ 6,726
Common stock value, per share			$ 5.01				$ 1.67
Contractual life	6 years		6 years				6 years 3 months 19 days
Dividend yield	0.00%		0.00%				0.00%
Volatility	90.16%		88.48%				93.50%
Risk-free interest rate	1.68%		1.70%				2.96%
Warrant,description	The warrant is subject to a 25% cliff vesting at one year from the date of grant and the balance vesting quarterly over the following two years.		The warrant is subject to a 25% cliff vesting at one year from the date of grant and the balance vesting quarterly over the following two years.
Ten Year Warrant [Member] | BP Directors
Warrants (Textual)
Warrant to purchase share of common stock, per share	$ 5		$ 5				$ 2.50

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($)	1 Months Ended	11 Months Ended	12 Months Ended
	Jan. 23, 2018	Dec. 31, 2018	Dec. 31, 2019
Stock based compensation expenses		$ 1,329,074	$ 590,041
Research and development [Member]
Stock based compensation expenses
General and administrative [Member]
Stock based compensation expenses		$ 1,329,074	$ 590,041

Stock Based Compensation (Det_2

Stock Based Compensation (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Weighted average exercise price	$ 4.42	$ 2.50
Weighted average grant date fair value	$ 3.08	$ 1.21
Assumptions
Expected volatility		92.24%
Weighted average expected term (in years)	6 years 3 months 19 days	6 years 3 months 4 days
Risk-free interest rate		2.93%
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Assumptions
Expected volatility	88.00%
Risk-free interest rate	1.68%
Maximum [Member]
Assumptions
Expected volatility	90.00%
Risk-free interest rate	2.31%

Stock Based Compensation (Det_3

Stock Based Compensation (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Number of shares, outstanding, beginning balance shares	1,058,212
Number of shares, outstanding, ending balance | shares	1,476,463	1,058,212
Weighted-average exercise prices, outstanding, beginning balance | $ / shares	$ 1.56
Weighted-average exercise prices, outstanding, ending balance | $ / shares	$ 2.71	$ 1.56
Stock option [Member]
Number of shares, outstanding, beginning balance shares	1,073,082
Granted	1,065,996	1,073,082
Number of shares, outstanding, ending balance | shares	2,139,078	1,073,082
Number of options, exercisable | shares	470,000
Weighted-average exercise prices, outstanding, beginning balance | $ / shares	$ 2.50
Granted	4.42	2.50
Weighted-average exercise prices, outstanding, ending balance | $ / shares	3.46	$ 2.50
Weighted-Average Exercise Price, exercisable, | $ / shares	$ 2.62
Weighted-average remaining contractual term, outstanding beginning balance	9 years 7 months 21 days
Weighted-average remaining contractual term, outstanding ending balance	9 years 2 months 1 day
Weighted-average remaining contractual term, exercisable	8 years 8 months 16 days
Aggregate intrinsic value, outstanding beginning balance
Granted
Aggregate intrinsic value, outstanding ending balance	4,052,512
Aggregate intrinsic value, exercisable | $	$ 1,283,560

Stock Based Compensation (Det_4

Stock Based Compensation (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2018	Dec. 31, 2019
Stock Based Compensation (Textual)
Unrecognized compensation expense		$ 3,940,461
Weighted-average period		3 years 1 month 6 days
Stock based compensation, description	The Company's board of directors approved its 2018 Stock Incentive Plan ("2018 Plan"). The 2018 Plan provides for the grant of non-qualified stock options and incentive stock options to purchase shares of the Company's common stock, the grant of restricted and unrestricted share awards and grant of restricted stock units. The 2018 Plan provides for the issuance of 1,630,000 shares of common stock. All of the Company's employees and any subsidiary employees (including officers and directors who are also employees), as well as all of the Company's nonemployee directors and other consultants, advisors and other persons who provide services to the Company will be eligible to receive incentive awards under the 2018 Plan.

Income Taxes (Details)

Income Taxes (Details) - USD ($)	11 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019
Current:
Federal
State
Total current
Deferred:
Federal	862,412	2,952,519
State
Change in valuation allowance	(862,412)	(2,952,519)
Total deferred
Income tax provision (benefit)

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Net operating loss carryforwards	$ 2,789,541	$ 459,522
Research and development tax credit	532,711	59,270
Intangibles	105,580	68,003
Stock compensation	387,098	275,617
Total deferred tax assets	3,814,930	862,412
Valuation allowances	(3,814,930)	(862,412)
Net deferred tax assets

Income Taxes (Details 2)

Income Taxes (Details 2)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory rate	21.00%	21.00%
State rate	0.00%	0.00%
Permanent book/tax differences	(0.12%)	(0.10%)
Research and development credit	3.99%	1.54%
Changes in valuation allowance	(24.87%)	(22.44%)
Total

Income Taxes (Details 3)

Income Taxes (Details 3)	12 Months Ended
	Dec. 31, 2019USD ($)
Balance at December 31, 2018
Balance at December 31, 2019	157,814
Federal and State [Member]
Balance at December 31, 2018
Additions for tax positions related to current year	157,814
Additions for tax positions related to prior years
Balance at December 31, 2019	$ 157,814

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes (Textual)
Federal research tax credits	$ 690,525	$ 59,270
Taxable income for losses	80.00%
Valuation allowance on deferred tax assets	(24.87%)	(22.44%)
Uncertain tax positions	$ 157,814
Effective Tax [Member]
Income Taxes (Textual)
Uncertain tax positions	$ 157,814