TFF Pharmaceuticals (TFFP) 10-Q 13 May 21 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 05, 2021
Document Information Line Items
Entity Registrant Name	TFF Pharmaceuticals, Inc.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		25,364,281
Amendment Flag	false
Entity Central Index Key	0001733413
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Entity File Number	001-39102
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 58,055,122	$ 35,300,805
Prepaid assets and other current assets	1,721,184	2,258,229
Total current assets	59,776,306	37,559,034
Property and equipment, net	1,577,441	1,102,808
Total assets	61,353,747	38,661,842
Current liabilities:
Accounts payable	1,817,034	1,297,725
Deferred research grant revenue		24,315
Total liabilities	1,817,034	1,322,040
Commitments and contingencies (see Note 4)
Stockholders’ equity:
Common stock; $0.001 par value, 45,000,000 shares authorized; 25,364,281 and 22,534,874 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	25,364	22,535
Additional paid-in capital	101,535,068	71,648,453
Accumulated other comprehensive loss	(89,496)	(51,538)
Accumulated deficit	(41,934,223)	(34,279,648)
Total stockholders’ equity	59,536,713	37,339,802
Total liabilities and stockholders’ equity	$ 61,353,747	$ 38,661,842

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	45,000,000	45,000,000
Common stock, shares issued	25,364,281	22,534,874
Common stock, shares outstanding	25,364,281	22,534,874

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Grant revenue	$ 24,315
Operating expenses:
Research and development	5,278,252	$ 2,235,542
General and administrative	2,647,415	1,617,924
Total operating expenses	7,925,667	3,853,466
Loss from operations	(7,901,352)	(3,853,466)
Other income:
Other income	231,278
Interest income	15,499	56,268
Total other income	246,777	56,268
Net loss	$ (7,654,575)	$ (3,797,198)
Net loss per share, basic and diluted (in Dollars per share)	$ (0.33)	$ (0.20)
Weighted average common shares outstanding, basic and diluted (in Shares)	23,140,607	19,008,611
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (7,654,575)	$ (3,797,198)
Other comprehensive loss:
Foreign currency translation adjustments	(37,958)	(20,283)
Comprehensive loss	$ (7,692,533)	$ (3,817,481)

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Stockholders’ Equity - USD ($)	Common Stock	Additional Paid in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Total
Balance at Dec. 31, 2019	$ 18,451	$ 43,338,710		$ (15,712,414)	$ 27,644,747
Balance (in Shares) at Dec. 31, 2019	18,450,992
Issuance of common stock for accrued research and development expense	$ 221	1,131,792			1,132,013
Issuance of common stock for accrued research and development expense (in Shares)	220,666
Stock-based compensation		425,844			425,844
Foreign currency translation adjustment			(20,283)		(20,283)
Net loss				(3,797,198)	(3,797,198)
Balance at Mar. 31, 2020	$ 18,672	44,896,346	(20,283)	(19,509,612)	25,385,123
Balance (in Shares) at Mar. 31, 2020	18,671,658
Balance at Dec. 31, 2020	$ 22,535	71,648,453	(51,538)	(34,279,648)	$ 37,339,802
Balance (in Shares) at Dec. 31, 2020	22,534,874
Issuance of common stock for accrued research and development expense (in Shares)					24,315
Sale of common stock, net of offering costs	$ 2,140	28,021,424			$ 28,023,564
Sale of common stock, net of offering costs (in Shares)	2,140,000
Issuance of common stock for stock option exercises	$ 245	655,008			655,253
Issuance of common stock for stock option exercises (in Shares)	244,656
Issuance of common stock for warrant exercises	$ 444	179,768			180,212
Issuance of common stock for warrant exercises (in Shares)	444,751
Stock-based compensation		1,030,415			1,030,415
Foreign currency translation adjustment			(37,958)		(37,958)
Net loss				(7,654,575)	(7,654,575)
Balance at Mar. 31, 2021	$ 25,364	$ 101,535,068	$ (89,496)	$ (41,934,223)	$ 59,536,713
Balance (in Shares) at Mar. 31, 2021	25,364,281

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net loss	$ (7,654,575)	$ (3,797,198)
Adjustment to reconcile net loss to net cash used in operating activities:
Stock based compensation	1,030,415	425,844
Depreciation and amortization	1,495
Changes in operating assets and liabilities:
Prepaid assets	534,612	222,730
Accounts payable	521,114	796,208
Deferred revenue	(24,315)
Net cash used in operating activities	(5,591,254)	(2,352,416)
Cash flows from investing activities:
Purchases of property and equipment	(476,128)
Net cash used in investing activities	(476,128)
Cash flows from financing activities:
Net proceeds from issuance of common stock	28,023,564
Proceeds from issuance of common stock for stock option exercises	655,253
Proceeds from issuance of common stock for warrant exercises	180,212
Net cash provided by financing activities	28,859,029
Effect of exchange rate changes on cash and cash equivalents	(37,330)	(11,510)
Net change in cash and cash equivalents	22,754,317	(2,363,926)
Cash and cash equivalents at beginning of period	35,300,805	28,094,936
Cash and cash equivalents at end of period	58,055,122	25,731,010
Supplemental disclosure of non-cash investing and financing activities:
Issuance of common stock for accrued research and development expense		1,132,013
Cashless exercise of warrants	$ 416

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2021
Accounting Policies [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 and is devoting substantially all of its efforts toward technology research and development. March 2021 Public Offering On March 30, 2021, the Company completed a public offering (“March 2021 Offering”), selling 2,140,000 shares of common stock at an offering price of $14.00 per share. The Company received gross proceeds of approximately $30,000,000. The Company received net proceeds of approximately $28,024,000, after deducting underwriting discounts and commissions and offering-related expenses. COVID-19 As of the date of this report, the COVID-19 pandemic has had a relatively insignificant impact on our operations. During 2020, we experienced a temporary suspension of dosing in the Phase I clinical trial for our TFF Tac-Lac due to the COVID-19 pandemic and the pandemic has otherwise caused minor slowing in the timing of certain non-clinical and clinical activities by us and our collaborators and service providers during 2020 and the first quarter of 2021. However, the COVID-19 pandemic has not caused us to forego, abandon or materially delay any proposed activities. While we believe we have been able to effectively manage the disruption caused by the COVID-19 pandemic to date, there can be no assurance that our operations, including the development of our drug candidates, will not be disrupted or materially adversely affected in the future by the COVID-19 pandemic or an epidemic or outbreak of an infectious disease like the outbreak of COVID-19.

Liquidity and Management_s Plan

Liquidity and Management’s Plans	3 Months Ended
	Mar. 31, 2021
Liquidity and Managements Plans [Abstract]
LIQUIDITY AND MANAGEMENT’S PLANS	NOTE 2 - LIQUIDITY AND MANAGEMENT’S PLANS As of March 31, 2021, the Company had cash and cash equivalents of approximately $58,055,000 and a working capital of approximately $57,959,000. The Company has not generated revenues from commercial operations 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 March 31, 2021. 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. If we encounter unforeseen delays or expenses, we have the ability to curtail our presently planned level of operations. 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 condensed consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and with Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of March 31, 2021 and the results of operations, changes in stockholders’ equity and cash flows for the periods presented. The results of operations for the three months ended March 31, 2021 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. 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. Foreign Currency The currency of TFF Australia, the Company’s international subsidiary, is in Australian dollars. Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at each balance sheet date. Results of operations and cash flows are translated using the average exchange rates throughout the period. The effect of exchange rate fluctuations on translation of assets and liabilities is included as a separate component of stockholders’ equity in accumulated other comprehensive income (loss). Cash and Cash Equivalents The Company maintains its operating accounts in financial institutions in the U.S. and in Australia. The balances are insured 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. As of March 31, 2021 and December 31, 2020, the Company had cash in Australia of AUD$717,058 (US$546,163) and AUD$214,240 (US$165,092), respectively. Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. The Company calculates depreciation using the straight-line method over the estimated useful lives of the assets, which range from two to five years for furniture, fixtures, lab and computer equipment and software. Assets held within construction in progress are not depreciated. Construction in progress is related to the construction or development of property and equipment that have not yet been placed in service for its intended use. As of March 31, 2021 and December 31, 2020, approximately $1,489,000 and $1,103,000, respectively, of the Company’s property and equipment consisted of lab equipment that are considered construction in progress. Expenditures for repairs and maintenance of assets are charged to expense as incurred. 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. Revenue Recognition The Company entered into a feasibility and material transfer agreement (“Feasibility Agreement”) with a third party that provided the Company funds in return for certain research and development activities. Revenue from the Feasibility Agreement is recognized in the period during which the related qualifying services are rendered and costs are incurred, provided that the applicable conditions under the Feasibility Agreement have been met. The Feasibility Agreement is on a best-effort basis and does not require scientific achievement as a performance obligation. All fees received under the agreement are non-refundable. The costs associated with the agreement are expensed as incurred and are reflected as a component of research and development expense in the accompanying condensed consolidated statements of operations. Funds received from the Feasibility Agreement are recorded as revenue as the Company is the principal participant in the arrangement because the activities under the Feasibility Agreement are part of the Company’s development programs. In those instances where the Company first receives consideration in advance of providing underlying services, the Company classifies such consideration as deferred revenue until (or as) the Company provides the underlying services. In those instances where the Company first provides the underlying services prior to its receipt of consideration, the Company records a grant receivable. During the three months ended March 31, 2021, the Company rendered the related services and recognized revenue and research and development expenses of $24,315. As of March 31, 2021 and December 31, 2020, the Company had deferred grant revenue of $0 and $24,315, respectively. 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 three months ended March 31, 2020 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. The warrant was exercised during the three months ended March 31, 2021. For the three months ended March 31, 2021 and 2020, 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: Three Months Ended Three Months Ended March 31, March 31, Stock Options 2,375,839 2,236,333 Warrants 389,233 1,076,463 2,765,072 3,312,796 * On an as-converted basis Use of Estimates The preparation of condensed 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 and the valuation allowance against deferred tax assets and related disclosures. Actual results could differ from those estimates. Recent Accounting Standards In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes, In January 2020, the FASB issued ASU 2020-01, Investments – Equity Securities, Investments – Equity Method and Joint Ventures, and Derivatives and Hedging – Clarifying the Interactions Between Topic 321, Topic 323, and Topic 815

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
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. The Company has determined that the lease agreement is considered a short-term lease under ASC 842 and has not recorded a right-of-use asset or liability. Short-term lease expense for the three months ended March 31, 2020 was $9,000. In October 2018, the Company entered into a lease agreement for office space in Doylestown, Pennsylvania. The lease commenced on October 15, 2018, the Company exercised a one-year lease renewal in October 2019, and another one-year lease renewal in October 2020 that will expire on October 31, 2021. The lease has an additional one-year option for renewal, and the base rent is $36,000 per year. The Company has determined that the lease agreement is considered a short-term lease under ASC 842 and has not recorded a right-of-use asset or liability. The Company rents another office space on a month-to-month basis with no long-term commitment, which is considered a short-term lease as well. Short-term lease expense for the three months ended March 31, 2021 and 2020 was approximately $15,000 and $14,000, respectively. Approximate future minimum lease payments required under the operating leases are as follows: Year ending December 31, Amount 2021 – Remaining $ 21,000 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	3 Months Ended
	Mar. 31, 2021
License And Agreements Disclosure [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. During the 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 Company paid the $50,000 and issued the shares in January 2020. As of the date of these condensed 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 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. In January 2019, the Company cancelled all of the individual study contracts with ITR and entered into contracts with 11036114 Canada Inc. (initially dba VJO Non-Clinical Development and now dba Strategy Point Innovations (“SPI”)) and 11035835 Canada Inc., (dba Periscope Research) 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 SPI were sub-contracted to ITR and others under substantially the same terms as the initial contract with ITR. Desire Ventures, LLC facilitates the invoicing for the various affiliates. The accounts payable due in connection with this agreement was approximately $685,000 and $56,000 as of March 31, 2021 and December 31, 2020, respectively. During the three months ended March 31, 2021 and 2020, the Company recorded research and development costs of approximately $1,812,000 and $779,000, respectively, pertaining to this agreement. 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 accounts payable due in connection with this agreement was approximately $108,000 and $59,000 as of March 31, 2021 and December 31, 2020, respectively. During the three months ended March 31, 2021 and 2020, the Company recorded research and development costs of approximately $494,000 and $341,000, respectively, pertaining to this agreement. In January 2020, TFF Australia entered into a master consultancy agreement with Novotech (Australia) Pty Ltd. (formally known as Clinical Network Services Pty Ltd.) to provide initial contract clinical research and development services for the Company’s drug product candidates. The accounts payable due in connection with this agreement was approximately AUD$83,000 (US$63,000) and AUD$170,000 (US$131,000) as of March 31, 2021 and December 31, 2020, respectively. During the three months ended March 31, 2021 and 2020, the Company recorded research and development costs of approximately AUD$705,000 (US$545,000) and AUD$85,000 (US$56,000), respectively, pertaining to this agreement. In May 2020, TFF Australia entered into an amended clinical trial research agreement with Nucleus Network Pty Ltd. to provide a Phase I study of one of the Company’s drug candidates, Tacrolimus. The accounts payable due in connection with this agreement was approximately AUD$21,000 (US$16,000) and AUD$51,000 (US$40,000) as of March 31, 2021 and December 31, 2020, respectively. During the three months ended March 31, 2021, the Company recorded research and development costs of approximately AUD$244,000 (US$188,000), pertaining to this agreement. In August 2020, TFF Australia entered into a clinical trial research agreement with Q-Pharm Pty Ltd. to provide a Phase I study of one of the Company’s drug candidates, Tacrolimus. The accounts payable due in connection with this agreement was approximately $0 as of March 31, 2021 and December 31, 2020, respectively. During the three months ended March 31, 2021, the Company did not record any research and development costs pertaining to this agreement. On August 12, 2020, the Company entered into a licensing and collaboration agreement with UNION therapeutics A/S in which UNION acquired an option to obtain a worldwide exclusive license for the TFF technology in combination with niclosamide. Pursuant to the terms of the license agreement, UNION can exercise its option to obtain the license within 45 days after the complete data has been received by UNION from investigator-initiated trials. Upon exercise of the option, UNION shall be responsible to pay all expenses incurred in the development of any licensed product. The Company will be eligible to receive milestone payments upon the achievement of certain milestones in the development the licensed products, based on completion of clinical trials, pre-marketing approvals and/or the receipt of at least $25,000,000 of grant funding. The Company will receive a single-digit tiered royalty on net sales. The Company will also be entitled to receive sales-related milestone payments based on the commercial success of the licensed products. In January 2021, the Company entered into a master services agreement with Experic to provide contract manufacturing services for one of the Company’s drug product candidates, Voriconazole. The accounts payable due in connection with this agreement was approximately $9,000 as of March 31, 2021. During the three months ended March 31, 2021, the Company recorded research and development costs of approximately $196,000, pertaining to this agreement.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 6 – STOCKHOLDERS’ EQUITY Common Stock March 2021 Offering On March 30, 2021, the Company completed the March 2021 Offering, selling 2,140,000 shares of common stock at an offering price of $14.00 per share. The Company received gross proceeds of approximately $30,000,000. The Company received net proceeds of approximately $28,024,000, after deducting underwriting discounts and commissions and offering-related expenses. Stock Option Exercises During the three months ended March 31, 2021, 244,656 shares of common stock were issued in connection with the exercise of stock options for total proceeds of $655,253. Warrant Exercises During the three months ended March 31, 2021, 415,917 shares of common stock were issued in connection with the cashless exercise of 424,288 common stock warrants. During the three months ended March 31, 2021, 28,834 shares of common stock were issued in connection with the exercise of common stock warrants for total proceeds of $180,212.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2021
Share-Based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	NOTE 7 – 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 Company has 3,284,480 shares of its common stock reserved under the 2018 Plan. 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 three months ended March 31, 2021 and 2020 for stock options and warrants: Three Three March 31, March 31, Research and development $ 67,279 $ — General and administrative 963,136 425,844 $ 1,030,415 $ 425,844 As of March 31, 2021, there was approximately $8,474,000 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 2.2 years. The Company records compensation expense for awards with graded vesting using the straight-line 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 stock options using the Black-Scholes option pricing model. The fair value of stock options is being amortized on a straight-line basis over the requisite service periods of the respective awards. The fair value of stock options issued was estimated using the following assumptions: Three Months Weighted average exercise price $ 15.90 Weighted average grant date fair value $ 13.72 Assumptions Expected volatility 89 % Weighted average expected term (in years) 10.0 Risk-free interest rate 1.09 % Expected dividend yield 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 for employee awards and the contractual term for nonemployee awards. The dividend yield considers that the Company has not historically paid dividends, and does not expect to pay dividends in the foreseeable future. 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 three months ended March 31, 2021: Number of Weighted- Weighted- Intrinsic Outstanding at January 1, 2021 2,610,495 $ 5.63 8.60 $ 22,789,233 Granted 10,000 15.90 — — Exercised (244,656 ) 2.68 — — Outstanding at March 31, 2021 2,375,839 $ 5.98 8.45 $ 18,262,737 Exercisable at March 31, 2021 660,382 $ 3.61 7.98 $ 6,576,440 The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common stock for those stock options that had strike prices lower than the fair value of the Company’s common stock. The intrinsic value of the options exercised during 2021 was approximately $3,700,000. Warrants On February 1, 2021, the Company issued a five-year warrant to purchase 25,000 shares of common stock at $15.90 per share to a consultant. 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 $16.13 per share, a contractual life of 5.0 years, a dividend yield of 0%, volatility of 97.09% and an assumed risk-free interest rate of 0.42%. The warrant is immediately exercisable. The fair value of the warrant was determined to be approximately $293,000 and was recorded in general and administrative expenses in the condensed consolidated statement of operations during the three months ended March 31, 2021. 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 above for stock options.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS The Company has performed an evaluation of events occurring subsequent to March 31, 2021 through the filing date of this Quarterly Report. Based on its evaluation, nothing other than the events below need to be disclosed. Leidos, Inc. awarded the Company on April 23, 2021 a subcontract to participate in the Personalized Protective Biosystems (“PPB”) Program to develop next-generation chemical and biological protection for U.S. warfighters and stability operators. Under the 60-month, three-phase subcontract, the Company will utilize its Thin Film Freezing platform.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and with Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of March 31, 2021 and the results of operations, changes in stockholders’ equity and cash flows for the periods presented. The results of operations for the three months ended March 31, 2021 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
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.
Foreign Currency	Foreign Currency The currency of TFF Australia, the Company’s international subsidiary, is in Australian dollars. Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at each balance sheet date. Results of operations and cash flows are translated using the average exchange rates throughout the period. The effect of exchange rate fluctuations on translation of assets and liabilities is included as a separate component of stockholders’ equity in accumulated other comprehensive income (loss).
Cash and Cash Equivalents	Cash and Cash Equivalents The Company maintains its operating accounts in financial institutions in the U.S. and in Australia. The balances are insured 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. As of March 31, 2021 and December 31, 2020, the Company had cash in Australia of AUD$717,058 (US$546,163) and AUD$214,240 (US$165,092), respectively.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. The Company calculates depreciation using the straight-line method over the estimated useful lives of the assets, which range from two to five years for furniture, fixtures, lab and computer equipment and software. Assets held within construction in progress are not depreciated. Construction in progress is related to the construction or development of property and equipment that have not yet been placed in service for its intended use. As of March 31, 2021 and December 31, 2020, approximately $1,489,000 and $1,103,000, respectively, of the Company’s property and equipment consisted of lab equipment that are considered construction in progress. Expenditures for repairs and maintenance of assets are charged to expense as incurred.
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.
Revenue Recognition	Revenue Recognition The Company entered into a feasibility and material transfer agreement (“Feasibility Agreement”) with a third party that provided the Company funds in return for certain research and development activities. Revenue from the Feasibility Agreement is recognized in the period during which the related qualifying services are rendered and costs are incurred, provided that the applicable conditions under the Feasibility Agreement have been met. The Feasibility Agreement is on a best-effort basis and does not require scientific achievement as a performance obligation. All fees received under the agreement are non-refundable. The costs associated with the agreement are expensed as incurred and are reflected as a component of research and development expense in the accompanying condensed consolidated statements of operations. Funds received from the Feasibility Agreement are recorded as revenue as the Company is the principal participant in the arrangement because the activities under the Feasibility Agreement are part of the Company’s development programs. In those instances where the Company first receives consideration in advance of providing underlying services, the Company classifies such consideration as deferred revenue until (or as) the Company provides the underlying services. In those instances where the Company first provides the underlying services prior to its receipt of consideration, the Company records a grant receivable. During the three months ended March 31, 2021, the Company rendered the related services and recognized revenue and research and development expenses of $24,315. As of March 31, 2021 and December 31, 2020, the Company had deferred grant revenue of $0 and $24,315, respectively.
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 three months ended March 31, 2020 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. The warrant was exercised during the three months ended March 31, 2021. For the three months ended March 31, 2021 and 2020, 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: Three Months Ended Three Months Ended March 31, March 31, Stock Options 2,375,839 2,236,333 Warrants 389,233 1,076,463 2,765,072 3,312,796 * On an as-converted basis
Use of Estimates	Use of Estimates The preparation of condensed 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 and the valuation allowance against deferred tax assets and related disclosures. Actual results could differ from those estimates.
Recent Accounting Standards	Recent Accounting Standards In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes, In January 2020, the FASB issued ASU 2020-01, Investments – Equity Securities, Investments – Equity Method and Joint Ventures, and Derivatives and Hedging – Clarifying the Interactions Between Topic 321, Topic 323, and Topic 815

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of Basic and Diluted Earnings per Common Share	Three Months Ended Three Months Ended March 31, March 31, Stock Options 2,375,839 2,236,333 Warrants 389,233 1,076,463 2,765,072 3,312,796

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum lease payments	Year ending December 31, Amount 2021 – Remaining $ 21,000

Stock Based Compensation (Table

Stock Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense stock options and restricted stock	Three Three March 31, March 31, Research and development $ 67,279 $ — General and administrative 963,136 425,844 $ 1,030,415 $ 425,844
Schedule of fair value of employee stock options	Three Months Weighted average exercise price $ 15.90 Weighted average grant date fair value $ 13.72 Assumptions Expected volatility 89 % Weighted average expected term (in years) 10.0 Risk-free interest rate 1.09 % Expected dividend yield 0.00 %
Schedule of stock option activity	Number of Weighted- Weighted- Intrinsic Outstanding at January 1, 2021 2,610,495 $ 5.63 8.60 $ 22,789,233 Granted 10,000 15.90 — — Exercised (244,656 ) 2.68 — — Outstanding at March 31, 2021 2,375,839 $ 5.98 8.45 $ 18,262,737 Exercisable at March 31, 2021 660,382 $ 3.61 7.98 $ 6,576,440

Organization and Description _2

Organization and Description of Business (Details) - USD ($)	1 Months Ended
	Mar. 30, 2021	Jan. 24, 2018
Accounting Policies [Abstract]
Exchange of common stock		4,000,000
Organization and description of business, description	On March 30, 2021, the Company completed a public offering (“March 2021 Offering”), selling 2,140,000 shares of common stock at an offering price of $14.00 per share.
Stock issued	2,140,000
Share Price	$ 14
Stock issued, value	$ 30,000,000
Received net proceeds	$ 28,024,000

Liquidity and Management_s Pl_2

Liquidity and Management’s Plans (Details)	Mar. 31, 2021USD ($)
Liquidity And Managements Plans [Abstract]
Cash and cash equivalents	$ 58,055,000
Working capital surplus	$ 57,959,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares	Mar. 31, 2020shares	Dec. 31, 2020USD ($)	Mar. 31, 2021AUD ($)	Dec. 31, 2020AUD ($)
Accounting Policies [Abstract]
Cash	$ 546,163		$ 165,092	$ 717,058	$ 214,240
Property and equipment | $	$ 1,489,000		1,103,000
Issuance of common stock for accrued research and development expense, shares (in Shares) | shares	24,315
Deferred research grant revenue | $	$ 0		$ 24,315
Basic weighted average shares outstanding (in Shares) | shares		400,000
Aggregate exercise price (in Dollars per share) | $ / shares	$ 0.01

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Basic and Diluted Earnings per Common Share - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Summary of Significant Accounting Policies (Details) - Schedule of Basic and Diluted Earnings per Common Share [Line Items]
Potential common stock equivalents outstanding	2,765,072	3,312,796
Stock Options [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Basic and Diluted Earnings per Common Share [Line Items]
Potential common stock equivalents outstanding	2,375,839	2,236,333
Warrants [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Basic and Diluted Earnings per Common Share [Line Items]
Potential common stock equivalents outstanding	389,233	1,076,463

Commitments and Contingencies_2

Commitments and Contingencies (Details)	3 Months Ended
	Mar. 31, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Rent expenses	$ 36,000
Short-term lease expense	$ 9,000
Commitments and contingencies description	the Company entered into a lease agreement for office space in Doylestown, Pennsylvania. The lease commenced on October 15, 2018, the Company exercised a one-year lease renewal in October 2019, and another one-year lease renewal in October 2020 that will expire on October 31, 2021. The lease has an additional one-year option for renewal, and the base rent is $36,000 per year. The Company has determined that the lease agreement is considered a short-term lease under ASC 842 and has not recorded a right-of-use asset or liability. The Company rents another office space on a month-to-month basis with no long-term commitment, which is considered a short-term lease as well. Short-term lease expense for the three months ended March 31, 2021 and 2020 was approximately $15,000 and $14,000, respectively.

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of future minimum lease payments	Mar. 31, 2021USD ($)
Schedule of future minimum lease payments [Abstract]
2021	$ 21,000

License and Agreements (Details

License and Agreements (Details) - USD ($)	1 Months Ended				3 Months Ended
	May 31, 2020	Jan. 31, 2020	Jan. 20, 2020	Jan. 31, 2019	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 24, 2019	Mar. 31, 2018
License and Agreements (Details) [Line Items]
Assignment fee									$ 100,000
Milestone fee								$ 50,000
Common shares outstanding price percentage								1.00%
Payments of shares		$ 50,000
Research and development costs					$ 5,278,252	$ 2,235,542
Accounts payable due					108,000		$ 59,000
Research and development expense					494,000	341,000
Pre-marketing approvals					25,000,000
Master Services [Member]
License and Agreements (Details) [Line Items]
Assignment fee					685,000		56,000
Agreement term, description				In January 2019, the Company cancelled all of the individual study contracts with ITR and entered into contracts with 11036114 Canada Inc. (initially dba VJO Non-Clinical Development and now dba Strategy Point Innovations (“SPI”)) and 11035835 Canada Inc., (dba Periscope Research) to complete additional pre-clinical research and development services in order to take advantage of eligible Canadian Tax Credits.
Research and development costs					1,812,000	$ 779,000
Q-Pharm Pty Ltd [Member]
License and Agreements (Details) [Line Items]
Accounts payable due					0		$ 0
master consultancy agreement with Novotech (Australia) Pty Ltd. [Member]
License and Agreements (Details) [Line Items]
Agreement description			to provide initial contract clinical research and development services for the Company’s drug product candidates. The accounts payable due in connection with this agreement was approximately AUD$83,000 (US$63,000) and AUD$170,000 (US$131,000) as of March 31, 2021 and December 31, 2020, respectively. During the three months ended March 31, 2021 and 2020, the Company recorded research and development costs of approximately AUD$705,000 (US$545,000) and AUD$85,000 (US$56,000), respectively, pertaining to this agreement.
clinical trial research agreement with Nucleus Network Pty Ltd.[Member]
License and Agreements (Details) [Line Items]
Agreement description	to provide a Phase I study of one of the Company’s drug candidates, Tacrolimus. The accounts payable due in connection with this agreement was approximately AUD$21,000 (US$16,000) and AUD$51,000 (US$40,000) as of March 31, 2021 and December 31, 2020, respectively. During the three months ended March 31, 2021, the Company recorded research and development costs of approximately AUD$244,000 (US$188,000), pertaining to this agreement.
Master Services Agreement [Member]
License and Agreements (Details) [Line Items]
Research and development costs					196,000
Accounts payable due					$ 9,000

Stockholders' Equity (Details)

Stockholders' Equity (Details)	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Stockholders' Equity Note [Abstract]
Shares of common stock	2,140,000
Offering price (in Dollars per share) | $ / shares	$ 14
Gross proceeds (in Dollars) | $	$ 30,000,000
Net proceeds (in Dollars) | $	$ 28,024,000
Issuance of common stock for stock option exercises	244,656
Stock option exercises total proceeds (in Dollars) | $	$ 655,253
Common stock cashless exercise	415,917
Common stock warrants	424,288
Exercise of common stock warrants	28,834
Total proceeds (in Dollars) | $	$ 180,212

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($)	Feb. 01, 2021	Jan. 31, 2018	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
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 Company has 3,284,480 shares of its common stock reserved under the 2018 Plan. 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.
Unrecognized compensation expense			$ 8,474,000
Weighted-average period			2 years 73 days
Intrinsic value			$ 3,700,000
Warrant description	the Company issued a five-year warrant to purchase 25,000 shares of common stock at $15.90 per share to a consultant. 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 $16.13 per share, a contractual life of 5.0 years, a dividend yield of 0%, volatility of 97.09% and an assumed risk-free interest rate of 0.42%. The warrant is immediately exercisable. The fair value of the warrant was determined to be approximately $293,000 and was recorded in general and administrative expenses in the condensed consolidated statement of operations during the three months ended March 31, 2021

Stock Based Compensation (Det_2

Stock Based Compensation (Details) - Schedule of stock-based compensation expense stock options and restricted stock - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stock Based Compensation (Details) - Schedule of stock-based compensation expense stock options and restricted stock [Line Items]
Stock based compensation expenses	$ 1,030,415	$ 425,844
Research and development [Member]
Stock Based Compensation (Details) - Schedule of stock-based compensation expense stock options and restricted stock [Line Items]
Stock based compensation expenses	67,279
General and administrative [Member]
Stock Based Compensation (Details) - Schedule of stock-based compensation expense stock options and restricted stock [Line Items]
Stock based compensation expenses	$ 963,136	$ 425,844

Stock Based Compensation (Det_3

Stock Based Compensation (Details) - Schedule of fair value of employee stock options	12 Months Ended
	Mar. 31, 2021$ / shares
Schedule of fair value of employee stock options [Abstract]
Weighted average exercise price (in Dollars per share)	$ 15.90
Weighted average grant date fair value (in Dollars per share)	$ 13.72
Expected volatility	89.00%
Weighted average expected term (in years)	10 years
Risk-free interest rate	1.09%
Expected dividend yield	0.00%

Stock Based Compensation (Det_4

Stock Based Compensation (Details) - Schedule of stock option activity	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Schedule of stock option activity [Abstract]
Number of Shares, Outstanding, beginning balance shares	2,610,495
Weighted-Average Exercise Prices, Outstanding, beginning balance (in Dollars per share) | $ / shares	$ 5.63
Weighted-Average Remaining Contractual Term, Outstanding beginning balance	8 years 219 days
Aggregate Intrinsic Value, Outstanding beginning balance (in Dollars) | $	$ 22,789,233
Number of Shares, Outstanding, Granted	10,000
Weighted-Average Exercise Prices, Outstanding, Granted (in Dollars per share) | $ / shares	$ 15.90
Weighted-Average Remaining Contractual Term, Granted
Aggregate Intrinsic Value, Granted (in Dollars) | $
Number of Shares, Outstanding, Exercised	(244,656)
Weighted-Average Exercise Prices, Outstanding, Exercised (in Dollars per share) | $ / shares	$ 2.68
Weighted-Average Remaining Contractual Term, Exercised
Aggregate Intrinsic Value, Exercised (in Dollars) | $
Number of Shares, Outstanding, Outstanding ending balance	2,375,839
Weighted-Average Exercise Prices, Outstanding, Outstanding ending balance (in Dollars per share) | $ / shares	$ 5.98
Weighted-Average Remaining Contractual Term, Outstanding ending balance	8 years 164 days
Aggregate Intrinsic Value, Outstanding ending balance (in Dollars) | $	$ 18,262,737
Number of Shares, Outstanding, Exercisable	660,382
Weighted-Average Exercise Prices, Outstanding, Exercisable (in Dollars per share) | $ / shares	$ 3.61
Weighted-Average Remaining Contractual Term, Exercisable	7 years 357 days
Aggregate Intrinsic Value, Exercisable	6,576,440