Imunon (IMNN) 10-Q 14 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 13, 2019
Document And Entity Information
Entity Registrant Name	Celsion CORP
Entity Central Index Key	0000749647
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		22,755,818
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 8,522,086	$ 13,353,543
Investment securities - available for sale, at fair value	10,290,378	14,257,998
Accrued interest receivable on investment securities	26,971	68,309
Advances and deposits on clinical programs and other current assets	1,271,670	451,293
Total current assets	20,111,105	28,131,143
Property and equipment (at cost, less accumulated depreciation of $3,059,285 and $2,968,259, respectively)	430,046	184,627
Other assets:
In-process research and development, net	15,736,491	15,736,491
Goodwill	1,976,101	1,976,101
Operating lease right-of-use assets, net	1,521,869
Other intangible assets, net	397,805	568,292
Deposits and other assets	390,433	258,933
Total other assets	20,022,699	18,539,817
Total assets	40,563,850	46,855,587
Current liabilities:
Accounts payable - trade	3,935,750	3,020,638
Other accrued liabilities	2,396,773	2,585,898
Notes payable - current portion, net of deferred financing costs	579,480
Operating lease liability - current portion	377,005
Deferred revenue - current portion	500,000	500,000
Total current liabilities	7,789,008	6,106,536
Earn-out milestone liability	5,818,843	8,907,664
Note Payable, net of deferred financing costs	9,126,739	9,417,037
Operating lease liability - non-current portion	1,244,710
Deferred revenue - non-current portion	1,125,000	1,500,000
Other liabilities - non-current		63,278
Total liabilities	25,104,300	25,994,515
Commitments and contingencies
Stockholders' equity:
Preferred Stock - $0.01 par value (100,000 shares authorized, and no shares issued or outstanding at September 30, 2019 and December 31, 2018)
Common stock - $0.01 par value (112,500,000 shares authorized; 22,002,752 and 18,832,168 shares issued at September 30, 2019 and December 31, 2018, respectively, and 22,002,418 and 18,831,834 shares outstanding at September 30, 2019 and December 31, 2018, respectively)	220,028	188,322
Additional paid-in capital	302,704,656	294,393,313
Accumulated other comprehensive gain	34,075	29,872
Accumulated deficit	(287,414,021)	(273,665,247)
Total stockholders' equity before treasury stock	15,544,738	20,946,260
Treasury stock, at cost (334 shares at September 30, 2019 and December 31, 2018)	(85,188)	(85,188)
Total stockholders' equity	15,459,550	20,861,072
Total liabilities and stockholders' equity	$ 40,563,850	$ 46,855,587

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accumulated depreciation and amortization of property, plant, and equipment	$ 3,059,285	$ 2,968,259
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	112,500,000	112,500,000
Common stock, shares issued	22,002,752	18,832,168
Common stock, shares outstanding	22,002,418	18,831,834
Treasury stock, shares	334	334

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Licensing revenue	$ 125,000	$ 125,000	$ 375,000	$ 375,000
Operating expenses:
Research and development	3,674,239	2,187,317	9,999,972	9,521,937
General and administrative	1,838,287	1,959,903	6,192,835	7,167,740
Total operating expenses	5,512,526	4,147,220	16,192,807	16,689,677
Loss from operations	(5,387,526)	(4,022,220)	(15,817,807)	(16,314,677)
Other (expense) income:
Gain from change in valuation of earn-out milestone liability	85,882	4,114,995	3,088,821	3,567,671
Fair value of warrants issued in connection with amendment to modify GEN-1 earn-out milestone payments			(400,000)
Impairment of in-process research and development		(4,510,000)		(4,510,000)
Investment income	174,439	106,565	432,832	253,750
Interest expense	(349,602)	(345,728)	(1,049,797)	(360,759)
Other (expense) income		2	(2,823)	78
Total other (expense) income, net	(89,281)	(634,166)	2,069,033	(1,049,260)
Net loss	$ (5,476,807)	$ (4,656,386)	$ (13,748,774)	$ (17,363,937)
Net loss per common share
Basic and diluted	$ (0.25)	$ (0.26)	$ (0.67)	$ (1)
Weighted average shares outstanding
Basic and diluted	21,662,824	17,801,230	20,524,799	17,447,921

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Changes in:
Realized (gains) losses on investment securities recognized in investment income, net	$ (58,068)	$ (2,788)	$ (68,418)	$ (11,125)
Unrealized (losses) gains on investment securities, net	(2,433)	27,995	72,621	42,249
Change in unrealized (losses) gains on available for sale securities, net	(60,501)	25,207	4,203	31,124
Net loss	(5,476,807)	(4,656,386)	(13,748,774)	(17,363,937)
Comprehensive loss	$ (5,537,308)	$ (4,631,179)	$ (13,744,571)	$ (17,332,813)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (5,476,807)	$ (4,656,386)	$ (13,748,774)	$ (17,363,937)
Adjustments to reconcile net loss to net cash from operating activities;
Depreciation and amortization			537,211	261,513
Change in fair value of earn-out milestone liability			(3,088,821)	(3,567,671)
Fair value of warrants issued in connection with amendment to modify the GEN-1 earn-out milestone payments			400,000
Impairment of in-process research and development		4,510,000		4,510,000
Recognition of deferred revenue			(375,000)	(375,000)
Stock-based compensation costs			1,762,172	3,985,829
Shares issued in exchange for services			5,350	29,841
Amortization of deferred finance charges and debt discount associated with notes payable			289,182	101,695
Change in deferred rent liability				(6,009)
Net changes in:
Accrued interest on investment securities			41,338	(22,306)
Advances, deposits and other current assets			(951,877)	(281,991)
Accounts payable and accrued liabilities			486,857	(399,935)
Net cash (used in) operating activities:			(14,642,362)	(13,127,971)
Cash flows from investing activities:
Purchases of investment securities			(19,338,177)	(15,574,587)
Proceeds from sale and maturity of investment securities			23,310,000	9,750,000
Purchases of property and equipment			(336,445)	(81,778)
Net cash provided by (used for) investing activities			3,635,378	(5,906,365)
Cash flows from financing activities:
Proceeds from sale of common stock equity, net of issuance costs			6,175,527	1,236,584
Proceeds received from notes payable, net of issuance costs				9,725,000
Net cash provided by financing activities			6,157,527	10,961,584
Decrease in cash and cash equivalents			(4,831,457)	(8,072,752)
Cash and cash equivalents at beginning of period			13,353,543	11,444,055	$ 11,444,055
Cash and cash equivalents at end of period	8,522,086	3,371,303	8,522,086	3,371,303	$ 13,353,543
Supplemental disclosures of cash flow information:
Interest paid			760,615	259,064
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from lease payments	130,631	111,977	355,216
Non-cash financing and investing activities
Fair value of warrants issued in connection with amendment to modify the GEN-1 earn-out milestone payments			400,000
Fair value of common stock issued as equity issuance costs and charged against paid in capital				450,000
Fair value of warrants issued in connection with the debt facility				507,116
Right of use assets obtained in exchange for lease liabilities
Operating leases			1,797,561
Realized and unrealized gains and losses, net, on investment securities	$ (60,501)	$ 25,207	$ 4,203	$ 31,124

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid in Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2017	$ 172,772	$ 288,408,976	$ (85,188)	$ (10,164)	$ (261,781,888)	$ 26,704,508
Balance, shares at Dec. 31, 2017	17,276,965		334
Net loss					(17,363,937)	(17,363,937)
Sale of equity through ATM purchase agreement	$ 4,571	1,232,013				1,236,584
Sale of equity through ATM purchase agreement, shares	457,070
Common stock and warrants to purchase common stock issued in connection with equity and debt facilities	$ 1,648	505,468				507,116
Common stock and warrants to purchase common stock issued in connection with equity and debt facilities, shares	164,835
Realized and unrealized gains and losses, net, on investments securities				31,124		31,124
Stock-based compensation expense		3,985,829				3,985,829
Issuance of restricted stock	$ 123	29,718				29,841
Issuance of restricted stock, shares	12,250
Balance at Sep. 30, 2018	$ 179,114	294,162,004	$ (85,188)	20,960	(279,145,825)	15,131,065
Balance, shares at Sep. 30, 2018	17,911,120		334
Balance at Jun. 30, 2018	$ 177,466	293,549,124	$ (85,188)	(4,247)	(274,489,439)	19,147,716
Balance, shares at Jun. 30, 2018	17,746,285		334
Net loss					(4,656,386)	(4,656,386)
Common stock issued in connection with equity facilities	$ 1,648	(1,648)
Common stock issued in connection with equity facilities, shares	164,835
Realized and unrealized gains and losses, net, on investments securities				25,207		25,207
Stock-based compensation expense		614,528				614,528
Balance at Sep. 30, 2018	$ 179,114	294,162,004	$ (85,188)	20,960	(279,145,825)	15,131,065
Balance, shares at Sep. 30, 2018	17,911,120		334
Balance at Dec. 31, 2018	$ 188,322	294,393,313	$ (85,188)	29,872	(273,665,247)	20,861,072
Balance, shares at Dec. 31, 2018	18,831,834		334
Net loss					(13,748,774)	(13,748,774)
Realized and unrealized gains and losses, net, on investments securities				4,203		4,203
Stock-based compensation expense		1,762,172				1,762,172
Issuance of restricted stock	$ 255	5,095				5,350
Issuance of restricted stock, shares	25,500
Sale of equity through equity financing facilities	$ 31,451	6,144,076				6,175,527
Sale of equity through equity financing facilities, shares	3,145,084
Common stock warrants issued in connection with amendment to modify GEN-1 earn-out milestone payments		400,000				400,000
Balance at Sep. 30, 2019	$ 220,028	302,704,656	$ (85,188)	34,075	(287,414,021)	15,459,550
Balance, shares at Sep. 30, 2019	22,002,418		334
Balance at Jun. 30, 2019	$ 210,026	300,549,511	$ (85,188)	94,576	(281,937,214)	18,831,711
Balance, shares at Jun. 30, 2019	21,002,295		334
Net loss					(5,476,807)	(5,476,807)
Realized and unrealized gains and losses, net, on investments securities				(60,501)		(60,501)
Stock-based compensation expense		453,680				453,680
Issuance of restricted stock	$ 150	(150)
Issuance of restricted stock, shares	15,000
Sale of equity through equity financing facilities	$ 9,852	1,701,615				1,711,467
Sale of equity through equity financing facilities, shares	985,123
Balance at Sep. 30, 2019	$ 220,028	$ 302,704,656	$ (85,188)	$ 34,075	$ (287,414,021)	$ 15,459,550
Balance, shares at Sep. 30, 2019	22,002,418		334

Business Description

Business Description	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description	Note 1. Business Description Celsion Corporation (“Celsion” and the “Company”) is a fully integrated development stage oncology drug company focused on advancing a portfolio of innovative cancer treatments, including directed chemotherapies, DNA-mediated immunotherapy and RNA based therapies. Our lead product candidate is ThermoDox ®

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 2. Basis of Presentation The accompanying unaudited condensed consolidated financial statements, which include the accounts of the Company and its wholly owned subsidiary, CLSN Laboratories, Inc, have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. All significant intercompany balances and transactions have been eliminated in consolidation. Certain information and disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments, consisting only of normal recurring accruals considered necessary for a fair presentation, have been included in the accompanying unaudited condensed consolidated financial statements. Operating results for the three and nine-month periods ended September 30, 2019 are not necessarily indicative of the results that may be expected for any other interim period(s) or for any full year. For further information, refer to the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 filed with the Securities and Exchange Commission (SEC) on March 29, 2019. The preparation of financial statements in conformity with GAAP requires management to make judgments, estimates, and assumptions that affect the amount reported in the Company’s financial statements and accompanying notes. Actual results could differ materially from those estimates. Events and conditions arising subsequent to the most recent balance sheet date have been evaluated for their possible impact on the financial statements and accompanying notes. No events and conditions would give rise to any information that required accounting recognition or disclosure in the financial statements other than those arising in the ordinary course of business. Certain reclassifications have been made to the prior year financial statements to conform to classifications used in the current year. These reclassifications had no impact on net loss, stockholder’s equity or cashflows as previously reported.

Financial Condition and Busines

Financial Condition and Business Plan	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Condition and Business Plan	Note 3. Financial Condition and Business Plan Since inception, the Company has incurred substantial operating losses, principally from expenses associated with the Company’s research and development programs, clinical trials conducted in connection with the Company’s product candidates, and applications and submissions to the U.S. Food and Drug Administration. The Company has not generated significant revenue and have incurred significant net losses in each year since our inception. As of September 30, 2019, the Company has incurred approximately $287 million of cumulative net losses and we had approximately $18.8 million in cash, investment securities and interest receivable. We have substantial future capital requirements to continue our research and development activities and advance our product candidates through various development stages. The Company believes these expenditures are essential for the commercialization of its technologies. The Company expects its operating losses to continue for the foreseeable future as it continues its product development efforts, and when it undertakes marketing and sales activities. The Company’s ability to achieve profitability is dependent upon its ability to obtain governmental approvals, manufacture, and market and sell its new product candidates. There can be no assurance that the Company will be able to commercialize its technology successfully or that profitability will ever be achieved. The operating results of the Company have fluctuated significantly in the past. We have substantial future capital requirements associated with our continued research and development activities and to advance our product candidates through various stages of development. The Company believes these expenditures are essential for the commercialization of its technologies. The actual amount of funds the Company will need to operate is subject to many factors, some of which are beyond the Company’s control. These factors include the following: ● the progress of research activities; ● the number and scope of research programs; ● the progress of preclinical and clinical development activities; ● the progress of the development efforts of parties with whom the Company has entered into research and development agreements; ● the costs associated with additional clinical trials of product candidates; ● the ability to maintain current research and development licensing arrangements and to establish new research and development and licensing arrangements; ● the ability to achieve milestones under licensing arrangements; ● the costs involved in prosecuting and enforcing patent claims and other intellectual property rights; and ● the costs and timing of regulatory approvals. The Company has based its estimate on assumptions that may prove to be wrong. The Company may need to obtain additional funds sooner or in greater amounts than it currently anticipates. Potential sources of financing include strategic relationships, public or private sales of the Company’s shares or debt, the sale of the Company’s State of New Jersey net operating losses and other sources. If the Company raises funds by selling additional shares of common stock or other securities convertible into common stock, the ownership interest of existing stockholders may be diluted. Annually, the State of New Jersey enables approved technology and biotechnology businesses with New Jersey net operating tax losses the opportunity to sell these losses through the Technology Business Tax Certificate Program (the “NOL Program”), thereby providing cash to companies to help fund their operations. The Company determined it met the eligibility requirements of the NOL Program and filed its application with the New Jersey Economic Development Authority (NJEDA) in June 2018. In this application, the Company requested authorization of up to $12.5 million in tax benefits from its cumulative New Jersey net operating losses to be eligible for sale. In September 2018, the NJEDA notified the Company that its application received approval to transfer $11.1 million of tax benefits. In December 2018, the Company successfully transferred these approved tax benefits which resulted in the receipt of $10.4 million in net cash proceeds to the Company at the end of 2018. The Company has approximately $3.9 million in future tax benefits remaining under the NOL Program for future years subsequent to 2018. In September 2019, the NJEDA notified the Company that its application received approval under the NOL Program for 2019. The Company expects that the successful transfer of these credits will result in receipt of approximately $2.0 million in net cash proceeds to the Company prior to the end of 2019. With $18.8 million in cash, investment securities and interest receivable at September 30, 2019 coupled with potential future sales of the Company’s New Jersey NOL’s and, as more fully described in Note 11, the remaining availability under the Capital on Demand Equity Facility with JonesTrading Institutional Services LLC and the Common Stock Purchase Agreement with Aspire Capital Fund LLC, the Company believes it has sufficient capital resources to fund its operations into the second quarter of 2021. The Company will be required to obtain additional funding to continue development of its current product candidates within the anticipated time periods, if at all, and to continue to fund operations.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2019
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	Note 4. New Accounting Pronouncements From time to time, new accounting pronouncements are issued by Financial Accounting Standards Board (FASB) and are adopted by us as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued accounting pronouncements will not have a material impact on the Company’s consolidated financial position, results of operations, and cash flows, or do not apply to our operations. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, “Leases” - Topic 842 (ASC Topic 842), which requires that lessees recognize assets and liabilities for leases with lease terms greater than twelve months in the statement of financial position. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This update also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. The update became effective for fiscal years beginning after December 15, 2018, including interim reporting periods within that reporting period. The FASB subsequently issued the following amendments to ASC Topic 842, which have the same effective date and transition date of January 1, 2019: ● ASU No. 2018-10, Codification Improvements to Topic 842, Leases ● ASU No. 2018-11, Leases (Topic 842): Targeted Improvements We adopted Topic ASC 842 effective January 1, 2019 and elected to apply the available practical expedients and implement internal controls to enable the preparation of financial information on adoption. We identified two of our leases consisting of the New Jersey corporate office lease and the Alabama lab facility lease as being subject to Topic ASC 842. The adoption of this standard resulted in the recognition of right-of-use assets of approximately $1.4 million, related operating lease liabilities of $1.5 million and reduced other liabilities by approximately $0.1 million on the consolidated balance sheets as of January 1, 2019 with no material impact to the opening balance of retained earnings. See Note 15 for further discussions regarding the adoption of ASC Topic 842. In August 2018, the SEC issued a final rule to simplify certain disclosure requirements. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders’ equity for interim financial statements. In August and September 2018, further amendments were issued to provide implementation guidance on adoption of the SEC rule and transition guidance for the new interim stockholders’ equity disclosure. We adopted this amended guidance in the first quarter of 2019. The adoption of this amended guidance resulted in us disclosing the Condensed Consolidated Statements of Changes in Stockholders’ Equity for the three-month and nine-month periods ending September 30, 2019 and 2018. In January 2017, the FASB issued Accounting Standard Update No. 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business,” which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance is effective for annual reporting periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. The adoption of ASU 2017-01 did not have an impact on our financial statement or disclosures. In January 2017, the FASB issued Accounting Standard Update No. 2017-04, “Intangibles-Goodwill and Other, Simplifying the Test for Goodwill Impairment,” which eliminated Step 2 from the goodwill impairment test. Under the revised test, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not In June 2016, the FASB issued Accounting Standard Update No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which modifies the measurement of expected credit losses on certain financial instruments. The Company will adopt ASU 2016-13 in its first quarter of 2021 utilizing the modified retrospective transition method. Based on the composition of the Company’s investment portfolio and current market conditions, the adoption of ASU 2016-13 is not expected to have a material impact on its consolidated financial statements.

Net Loss Per Common Share

Net Loss Per Common Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net Loss Per Common Share	Note 5. Net Loss per Common Share Basic loss per share is calculated based upon the net loss available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated after adjusting the denominator of the basic earnings per share computation for the effects of all dilutive potential common shares outstanding during the period. The dilutive effects of preferred stock, options and warrants and their equivalents are computed using the treasury stock method. The total number of shares of common stock issuable upon exercise of warrants, stock option grants and equity awards were 4,598,990 shares for the nine-month period ended September 30, 2019. Warrants with an exercise price of $0.01 (as more fully described in Note 13 of these financial statements) exercisable for 200,000 shares of common stock were considered issued in calculating basic loss per share. For the three-month and nine-month periods ended September 30, 2019, diluted loss per common share was the same as basic loss per common share as the other warrants and equity awards that were convertible into shares of the Company’s common stock were excluded from the calculation of diluted loss per common share as their effect would have been anti-dilutive. The total number of shares of common stock issuable upon exercise of warrants and equity awards was 6,496,261 shares for the three-month and nine-month periods ended September 30, 2018. For the three-month and nine-month periods ended September 30, 2018, diluted loss per common share was the same as basic loss per common share as all options and all warrants that were exercisable into shares of the Company’s common stock were excluded from the calculation of diluted earnings attributable to common shareholders per common share as their effect would have been anti-dilutive. The Company did not pay any dividends during the nine-month periods ended September 30, 2019 and 2018.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 6. Fair Value of Financial Instruments Short-term investments available for sale were approximately $10.3 million and $14.3 million as of September 30, 2019 and December 31, 2018, respectively, and consist of corporate debt securities. These investments are valued at estimated fair value, with unrealized gains and losses reported as a separate component of stockholders’ equity in accumulated other comprehensive loss. Securities available for sale are evaluated periodically to determine whether a decline in their value is other than temporary. The term “other than temporary” is not intended to indicate a permanent decline in value. Rather, it means that the prospects for near term recovery of value are not necessarily favorable, or that there is a lack of evidence to support fair values equal to, or greater than, the carrying value of the security. Management reviews criteria such as the magnitude and duration of the decline, as well as the reasons for the decline, to predict whether the loss in value is other than temporary. Once a decline in value is determined to be other than temporary, the value of the security is reduced and a corresponding charge to earnings is recognized. A summary of the cost, fair value and maturities of the Company’s short-term investments is as follows: September 30, 2019 December 31, 2018 Cost Fair Value Cost Fair Value Short-term investments Corporate debt securities $ 10,256,303 $ 10,290,378 $ 14,228,126 $ 14,257,998 Total $ 10,256,303 $ 10,290,378 $ 14,228,126 $ 14,257,998 September 30, 2019 December 31, 2018 Cost Fair Value Cost Fair Value Short-term investment maturities Within 3 months $ 5,473,222 $ 5,490,085 $ 5,383,488 $ 5,393,743 Between 3-12 months 4,783,081 4,800,293 8,844,638 8,864,255 Total $ 10,256,303 $ 10,290,378 $ 14,228,126 $ 14,257,998 The following table shows the Company’s investment securities gross unrealized gains (losses) and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2019 and December 31, 2018. The Company has reviewed individual securities to determine whether a decline in fair value below the amortizable cost basis is other than temporary. September 30, 2019 December 31, 2018 Available for sale securities Fair Value Unrealized Holding Gains (Losses) Fair Value Unrealized Holding Gains (Losses) Investments with unrealized gains $ 8,984,425 $ 34,233 $ 7,515,676 $ 38,068 Investments with unrealized losses 1,305,953 (158 ) 6,742,322 (8,196 ) Total $ 10,290,378 $ 34,075 $ 14,257,998 $ 29,872 Investment income, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows: Three Months Ended September 30, 2019 2018 Interest and dividends accrued and paid $ 116,371 $ 103,777 Realized gains 58,068 2,788 Investment income, net $ 174,439 $ 106,565 Nine Months Ended September 30, 2019 2018 Interest and dividends accrued and paid $ 364,414 $ 242,625 Realized gains 68,418 11,125 Investment income, net $ 432,832 $ 253,750

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7. Fair Value Measurements FASB Accounting Standards Codification (ASC) Section 820 “Fair Value Measurements and Disclosures,” establishes a three-level hierarchy for fair value measurements which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are as follows: Level 1: Quoted prices (unadjusted) or identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date; Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions that market participants would use in pricing an asset or liability. Cash and cash equivalents, other current assets, accounts payable and other accrued liabilities are reflected in the condensed consolidated balance sheet at their approximate estimated fair values primarily due to their short-term nature. The fair values of securities available for sale is determined by relying on the securities’ relationship to other benchmark quoted securities and classified its investments as Level 2 items in both 2019 and 2018. There were no transfers of assets or liabilities between Level 1 and Level 2 and no transfers in or out of Level 3 thus far in 2019 and during the year ended December 31, 2018. The changes in Level 3 liabilities were the result of changes in the fair value of the earn-out milestone liability included in earnings. The earnout milestone liability is valued using a risk-adjusted assessment of the probability of payment of each milestone, discounted to present value using an estimated time to achieve the milestone (see Note 13 for significant unobservable inputs). The in-process R&D is valued at September 30, 2019 and December 31, 2018 using a multi-period excess earnings method (see Note 8 for significant unobservable inputs). The table below summarizes assets and liabilities measured at fair value. This table only includes those assets and liabilities with fair values that have changed since December 31, 2018: Total Fair Value Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Recurring items as of September 30, 2019 Corporate debt securities, available for sale $ 10,290,378 $ ─ $ 10,290,378 $ ─ Recurring items as of December 31, 2018 Corporate debt securities, available for sale $ 14,257,998 $ ─ $ 14,257,998 $ ─ Liabilities: Recurring items as of September 30, 2019 Earn-out milestone liability (Note 13) $ 5,818,843 $ ─ $ ─ $ 5,818,843 Recurring items as of December 31, 2018 Earn-out milestone liability (Note 13) $ 8,907,664 $ ─ $ ─ $ 8,907,664

Acquisition of EGEN Assets

Acquisition of EGEN Assets	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Acquisition of EGEN Assets	Note 8. Acquisition of EGEN Assets On June 20, 2014, we completed the acquisition of substantially all of the assets of EGEN, which has changed its company name to EGWU, Inc. after the closing of the acquisition (“EGEN”), pursuant to an Asset Purchase Agreement dated as of June 6, 2014, by and between EGEN and Celsion (the “Asset Purchase Agreement”). We acquired all EGEN’s right, title and interest in and to substantially all of the assets of EGEN, including cash and cash equivalents, patents, trademarks and other intellectual property rights, clinical data, certain contracts, licenses and permits, equipment, furniture, office equipment, furnishings, supplies and other tangible personal property. In addition, CLSN Laboratories assumed certain specified liabilities of EGEN, including the liabilities arising out of the acquired contracts and other assets relating to periods after the closing date. At the time of the acquisition, the total purchase price for the asset acquisition was up to $44.4 million, including potential future earnout payments of up to $30.4 million contingent upon achievement of certain earnout milestones set forth in the Asset Purchase Agreement. We paid approximately $3.0 million in cash after the expense adjustment and issued 241,590 shares of our common stock to EGEN. The shares of common stock were issued in a private transaction exempt from registration under the Securities Act, pursuant to Section 4(2) thereof. Acquired In-process Research and Development Acquired in-process research and development (IPR&D) consists of EGEN’s drug technology platforms: TheraPlas and TheraSilence. The fair value of the IPR&D drug technology platforms was estimated to be $24.2 million as of the acquisition date. As of the closing of the acquisition, the IPR&D was considered indefinite lived intangible assets and will not be amortized. IPR&D is reviewed for impairment at least annually as of our third quarter ended September 30, and whenever events or changes in circumstances indicate that the carrying value of the assets might not be recoverable. On December 31, 2016, the Company determined one of its IPR&D assets related to its RNA delivery system was impaired and wrote off its fair value, incurring a non-cash charge of $1.4 million during 2016. During its annual assessments on September 30, 2017 and 2018, the Company determined its IPR&D asset related to its glioblastoma multiforme cancer (GBM) product candidate, originally fair valued at $9.4 million on the date of acquisition, was impaired and wrote this asset’s carrying value down to $2.4 million collectively after those two assessments, incurring non-cash charges of $2.5 million and $4.5 million during 2017 and 2018, respectively. On September 30, 2019, the Company evaluated its IPR&D of the (GBM) product candidate and concluded that it is not more likely than not that the asset is further impaired. On September 30, 2019 and 2018, the Company evaluated its IPR&D of the ovarian cancer indication and concluded that it is not more likely than not that the asset is impaired. Covenants Not To Compete Pursuant to the EGEN Purchase Agreement, EGEN provided certain covenants (“Covenant Not To Compete”) to the Company whereby EGEN agreed, during the period ending on the seventh anniversary of the closing date of the acquisition on June 20, 2014, not to enter into any business, directly or indirectly, which competes with the business of the Company nor will it contact, solicit or approach any of the employees of the Company for purposes of offering employment. The Covenant Not to Compete, which was valued at approximately $1.6 million at the date of the EGEN asset acquisition, has a definitive life and is amortized on a straight-line basis over its life of 7 years. The Company recognized amortization expense of $56,829 in each of the three-month periods ended September 30, 2019 and 2018. The Company recognized amortization expense of $170,487 in each of the nine-month periods ended September 30, 2019 and 2018. The carrying value of the Covenant Not to Compete was $397,805, net of $1,193,409 in accumulated amortization expense, as of September 30, 2019. The carrying value of the Covenant Not to Compete was $568,292, net of $1,022,922 in accumulated amortization expense, as of December 31, 2018. Following is a schedule of future amortization amounts during the remaining life of the Covenant Not to Compete. Year Ended September 30, 2020 $ 227,316 2021 170,489 2022 and thereafter - Total $ 397,805 Goodwill The purchase price exceeded the estimated fair value of the net assets acquired by approximately $2.0 million which was recorded as Goodwill. Goodwill represents the difference between the total purchase price for the net assets purchased from EGEN and the aggregate fair values of tangible and intangible assets acquired, less liabilities assumed. Goodwill is reviewed for impairment at least annually as of our third quarter ended September 30 or sooner if we believe indicators of impairment exist. As of September 30, 2019, we concluded that the Company’s fair value exceeded its carrying value therefore “it is not more likely than not” that the Goodwill was impaired. Following is a summary of the net fair value of the assets acquired in the EGEN asset acquisition for the nine-month period ended September 30, 2019: IPR&D Goodwill Covenant Not To Compete For the nine-months ended September 30, 2019 Balance at January 1, 2019, net $ 15,736,491 $ 1,976,101 $ 568,292 Amortization - - (170,487 ) Balance at September 30, 2019, net $ 15,736,491 $ 1,976,101 $ 397,805

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Accrued Liabilities	Note 9. Accrued Liabilities Other accrued liabilities at September 30, 2019 and December 31, 2018 include the following: September 30, 2019 December 31, 2018 (Unaudited) Amounts due to contract research organizations and other contractual agreements $ 587,635 $ 749,369 Accrued payroll and related benefits 1,555,574 1,592,590 Accrued professional fees 234,154 198,654 Other 19,410 45,285 Total $ 2,396,773 $ 2,585,898

Note Payable

Note Payable	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Note Payable	Note 10. Note Payable Horizon Credit Agreement On June 27, 2018, the Company entered into a loan agreement with Horizon Technology Finance Corporation (“Horizon”) that provided $10 million in new capital (the “Horizon Credit Agreement”). The Company drew down $10 million upon closing of the Horizon Credit Agreement on June 27, 2018. The Company will use the funding provided under the Horizon Credit Agreement for working capital and advancement of its product pipeline. The obligations under the Horizon Credit Agreement are secured by a first-priority security interest in substantially all assets of Celsion other than intellectual property assets. The obligations will bear interest at a rate calculated based on one-month LIBOR plus 7.625%. The effective interest rate at December 31, 2018 was 9.98%. Payments under the loan agreement are interest only for the first twenty-four (24) months after loan closing, followed by a 24-month amortization period of principal and interest through the scheduled maturity date. At its option, the Company can prepay all the outstanding principal balance by prepaying the outstanding principal balance and an amount equal to 1-3% of the outstanding principal balance at that time, based on the amount of time prior to the maturity date of the notes. The Horizon Credit Agreement contains customary representations, warranties and affirmative and negative covenants including, among other things, covenants that limit or restrict Celsion’s ability to grant liens, incur indebtedness, make certain restricted payments, merge or consolidate and make dispositions of assets. Upon the occurrence of an event of default under the Horizon Credit Agreement, the lenders may cease making loans, terminate the Horizon Credit Agreement, declare all amounts outstanding to be immediately due and payable and foreclose on or liquidate Celsion’s assets that comprise the lenders’ collateral. The Horizon Credit Agreement specifies a number of events of default (some of which are subject to applicable grace or cure periods), including, among other things, non-payment defaults, covenant defaults, a material adverse effect on Celsion or its assets, cross-defaults to other material indebtedness, bankruptcy and insolvency defaults and material judgment defaults. As a fee in connection with the Horizon Credit Agreement, Celsion issued Horizon warrants exercisable for a total of 190,114 shares of Celsion’s common stock (the “Horizon Warrants”) at a per share exercise price of $2.63. The Horizon Warrants are immediately exercisable for cash or by net exercise from the date of grant and will expire after ten years from the date of grant. Celsion registered the Horizon Warrants on Form S-3 (File No. 333 - 227236) filed with the Securities and Exchange Commission on September 7, 2018 and declared effective on October 10, 2018. The Company valued the Horizon Warrants issued using the Black-Scholes option pricing model and recorded a total of $507,116 as a direct deduction from the debt liability consistent with the presentation of a debt discount and are being amortized as interest expense using the effective interest method over the life of the loan. In connection with the Horizon Credit Agreement, the Company incurred financing fees and expenses totaling $175,000 which are recorded and classified as debt discount. In addition, the Company paid loan origination fees of $100,000 which has been recorded and classified as debt discount. These debt discount amounts totaling $782,116 are being amortized as interest expense using the effective interest method over the life of the loan. Also, in connection with each of the Horizon Credit Agreements, the Company is required to pay an end of term charge equal to 4.0% of the original loan amount at time of maturity. Therefore, these amounts totaling $400,000 are being amortized as interest expense using the effective interest method over the life of the loan. During the three-month period ended September 30, 2019, the Company incurred $252,144 in interest expense and amortized $97,458 as interest expense for debt discounts and end of term charges in connection with the Horizon Credit Agreement. During the nine-month period ended September 30, 2019, the Company incurred $760,615 in interest expense and amortized $289,182 as interest expense for debt discounts and end of term charges in connection with the Horizon Credit Agreement. During the three-month period ended September 30, 2018, the Company incurred $248,270 in interest expense and amortized $97,458 as interest expense for debt discounts and end of term charges in connection with the Horizon Credit Agreement. During the nine-month period ended September 30, 2018, the Company incurred $259,064 in interest expense and amortized $101,695 as interest expense for debt discounts and end of term charges in connection with the Horizon Credit Agreement. Following is a schedule of future principal payments, net of unamortized debt discounts and amortized end of term charges, due on the Horizon Credit Agreement: As of September 30, 2020 $ 833,334 2021 4,583,333 2022 4,583,333 2023 and thereafter - Subtotal of future principal payments 10,000,000 Unamortized debt issuance costs, net (293,781 ) $ 9,706,219

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Stockholders' Equity	Note 11. Stockholders’ Equity In September 2018, the Company filed with the SEC a new $75 million shelf registration statement on Form S-3 (the “2018 Shelf Registration Statement”) (File No. 333-227236) that allows the Company to issue any combination of common stock, preferred stock or warrants to purchase common stock or preferred stock. This shelf registration was declared effective on October 12, 2018 and will expire three years from that date. Aspire Purchase Agreements On August 31, 2018, we entered into a common stock purchase agreement (the “2018 Aspire Purchase Agreement”) with Aspire Capital Fund, LLC (“Aspire Capital”) which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $15.0 million of shares of the Company’s common stock over the 24-month term of the 2018 Aspire Purchase Agreement. On October 12, 2018, the Company filed with the SEC a prospectus supplement to the 2018 Shelf Registration Statement registering all the shares of common stock that may be offered to Aspire Capital from time to time. Under the 2018 Aspire Purchase Agreement, on any trading day selected by the Company, the Company has the right, in its sole discretion, to present Aspire Capital with a purchase notice (each, a “Purchase Notice”), directing Aspire Capital (as principal) to purchase up to 100,000 shares of the Company’s common stock per business day, up to $15.0 million of the Company’s common stock in the aggregate at a per share price (the “Purchase Price”) equal to the lesser of: ● the lowest sale price of the Company’s common stock on the purchase date; or ● the arithmetic average of the three (3) lowest closing sale prices for the Company’s common stock during the ten (10) consecutive trading days ending on the trading day immediately preceding the purchase date. The Company and Aspire Capital also may mutually agree to increase the number of shares that may be sold to as much as an additional 2,000,000 shares per business day. In addition, on any date on which the Company submits a Purchase Notice to Aspire Capital in an amount equal to at least 100,000 shares, the Company also has the right, in its sole discretion, to present Aspire Capital with a volume-weighted average price purchase notice (each, a “VWAP Purchase Notice”) directing Aspire Capital to purchase an amount of stock equal to up to 30% of the aggregate shares of the Company’s common stock traded on its principal market on the next trading day (the “VWAP Purchase Date”), subject to a maximum number of shares the Company may determine. The purchase price per share pursuant to such VWAP Purchase Notice is generally 97% of the volume-weighted average price for the Company’s common stock traded on its principal market on the VWAP Purchase Date. The Purchase Price will be adjusted for any reorganization, recapitalization, non-cash dividend, stock split, or other similar transaction occurring during the period(s) used to compute the Purchase Price. The Company may deliver multiple Purchase Notices and VWAP Purchase Notices to Aspire Capital from time to time during the term of the Purchase Agreement, so long as the most recent purchase has been completed. There are no trading volume requirements or restrictions under the 2018 Aspire Purchase Agreement, and the Company will control the timing and amount of sales of the Company’s common stock to Aspire Capital. Aspire Capital has no right to require any sales by the Company but is obligated to make purchases from the Company as directed by the Company in accordance with the 2018 Aspire Purchase Agreement. There are no limitations on use of proceeds, financial or business covenants, restrictions on future funding, rights of first refusal, participation rights, penalties or liquidated damages in the Aspire Purchase Agreement. In consideration for entering into the 2018 Aspire Purchase Agreement, concurrently with the execution of the 2018 Aspire Purchase Agreement, the Company issued to Aspire Capital 164,835 shares of the Company’s common stock (the “2018 Commitment Shares”). The Company’s policy is to record specific incremental costs directly attributable to an offering as a charge against the gross proceeds, if any, when the offering becomes effective. The 2018 Commitment Shares valued at $450,000 were recorded in September 2018 as costs of equity financing and charged against additional paid-in capital. The 2018 Aspire Purchase Agreement may be terminated by the Company at any time, at its discretion, without any cost to the Company. Aspire Capital has agreed that neither it nor any of its agents, representatives and affiliates shall engage in any direct or indirect short-selling or hedging of the Company’s common stock during any time prior to the termination of the 2018 Aspire Purchase Agreement. Any proceeds from the Company receives under the 2018 Aspire Purchase Agreement are expected to be used for working capital and general corporate purposes. During 2018, the Company sold and issued an aggregate of 100,000 shares under the 2018 Aspire Purchase Agreement, receiving approximately $0.2 million. The Company sold and issued an aggregate of 2.8 million shares under the 2018 Aspire Purchase Agreement, receiving approximately $5.5 million during the first nine months of 2019. As a result of the Company and Aspire Capital entering into a new purchase agreement on October 28, 2019 discussed in the next paragraph, the 2018 Aspire Purchase Agreement was terminated. Subsequent to September 30, 2019 and through October 27, 2019, the Company sold 515,598 shares under the Aspire Purchase Agreement, receiving approximately $0.8 million in additional gross proceeds. On October 28, 2019, Company, entered into a new common stock purchase agreement (the “2019 Aspire Purchase Agreement”) with Aspire Capital which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $10.0 million of shares of the Company’s common stock over the 24-month term of the 2019 Aspire Purchase Agreement. Concurrently with entering into the 2019 Aspire Purchase Agreement, the Company also entered into a registration rights agreement with Aspire Capital (the “Registration Rights Agreement”), in which the Company agreed to file one or more registration statements, as permissible and necessary to register under the Securities Act of 1933, as amended (the “Securities Act”), registering the sale of the shares of the Company’s common stock that have been and may be issued to Aspire Capital under the 2019 Aspire Purchase Agreement. On November 8, 2019, the Company filed with the SEC a Registration Statement on Form S-1 registering all the shares of common stock that may be offered to Aspire Capital from time to time under the 2019 Aspire Purchase Agreement. The terms and conditions pursuant to the 2019 Aspire Purchase Agreement are substantially similar to the 2018 Aspire Purchase Agreement and the more significant terms are restated as follows: ● Under the terms of the 2019 Aspire Purchase Agreement, on any trading day selected by the Company, the Company has the right, in its sole discretion, to present Aspire Capital with a Purchase Notice, directing Aspire Capital to purchase up to 100,000 shares of the Company’s common stock per business day, up to $10.0 million of the Company’s common stock in the aggregate at a per share Purchase Price equal to the lesser of: ● the lowest sale price of the Company’s common stock on the purchase date; or ● the arithmetic average of the three (3) lowest closing sale prices for the Company’s common stock during the ten (10) consecutive trading days ending on the trading day immediately preceding the purchase date. ● In addition, on any date on which the Company submits a Purchase Notice to Aspire Capital in an amount of 100,000 shares, the Company also has the right, in its sole discretion, to present Aspire Capital with a VWAP Purchase Notice directing Aspire Capital to purchase an amount of stock equal to up to 30% of the aggregate shares of the Company’s common stock traded on the VWAP Purchase Date, subject to a maximum number of shares the Company may determine. The purchase price per share pursuant to such VWAP Purchase Notice is generally 97% of the volume-weighted average price for the Company’s common stock traded on its principal market on the VWAP Purchase Date. ● In consideration for entering into the 2019 Aspire Purchase Agreement, the Company issued to Aspire Capital 100,000 shares of the Company’s common stock (the “2019 Commitment Shares”). The Company’s policy is to record specific incremental costs directly attributable to an offering as a charge against the gross proceeds, if any, when the offering becomes effective. The 2019 Commitment Shares will be fair valued and recorded in October 2019 as costs of equity financing and charged against additional paid-in capital. ● All other rights, responsibilities and conditions of the 2019 Aspire Purchase Agreement remain the same as the prior agreement in 2018. Capital on Demand TM On December 4, 2018, the Company entered into a Capital on Demand TM The Company is not obligated to sell any common stock under the Capital on Demand Agreement and, subject to the terms and conditions of the Capital on Demand Agreement, JonesTrading will use commercially reasonable efforts, consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of The Nasdaq Capital Market, to sell common stock from time to time based upon the Company’s instructions, including any price, time or size limits or other customary parameters or conditions the Company may impose. Under the Capital on Demand Agreement, JonesTrading may sell common stock by any method deemed to be an “at the market offering” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended. The Capital on Demand Agreement will terminate upon the earlier of (i) the sale of all shares of our common stock subject to the Sales Agreement, and (ii) the termination of the Capital on Demand Agreement by JonesTrading or Celsion. The Capital on Demand Agreement may be terminated by JonesTrading or the Company at any time upon 10 days’ notice to the other party, or by JonesTrading at any time in certain circumstances, including the occurrence of a material adverse change in the Company. The Company will pay JonesTrading a commission of 3.0% of the aggregate gross proceeds from each sale of Common Stock and has agreed to provide JonesTrading with customary indemnification and contribution rights. The Shares will be issued pursuant to the Company’s previously filed and effective Registration Statement on Form S-3 (File No. 333-227236), the base prospectus dated October 12, 2018, filed as part of such Registration Statement, and the prospectus supplement dated December 4, 2018, filed by Celsion with the Securities and Exchange Commission. The Company did not sell any shares under the Capital on Demand Agreement as of December 31, 2018. During the first nine months of 2019, the Company sold and issued an aggregate of 345,084 shares under the Capital on Demand Agreement, receiving approximately $0.8 million in gross proceeds. Subsequent to September 30, 2019 and through November 13, 2019, the Company sold 125,302 shares under the Capital on Demand Agreement, receiving approximately $213,000 in additional net proceeds. As of September 30, 2019, the Company has $15.2 million remaining under the Capital on Demand Agreement.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 12. Stock-Based Compensation The Company has long-term compensation plans that permit the granting of equity-based awards in the form of stock options, restricted stock, restricted stock units, stock appreciation rights, other stock awards, and performance awards. At the 2018 Annual Stockholders Meeting of the Company held on May 15, 2018, stockholders approved the Celsion Corporation 2018 Stock Incentive Plan (the “2018 Plan”). The 2018 Plan, as adopted, permits the granting of 2,700,000 shares of Celsion common stock as equity awards in the form of incentive stock options, nonqualified stock options, restricted stock, restricted stock units, stock appreciation rights, other stock awards, performance awards, or in any combination of the foregoing. At the 2019 Annual Stockholders Meeting of the Company held on May 14, 2019, stockholders approved an amendment to the 2018 Plan whereby the Company increased the number of common stock shares available by 1,200,000 to a total of 3,900,000 under the 2018 Plan, as amended. Prior to the adoption of the 2018 Plan, the Company had maintained the Celsion Corporation 2007 Stock Incentive Plan (the “2007 Plan”). The 2007 Plan permitted the granting of 688,531 shares of Celsion common stock as equity awards in the form of incentive stock options, nonqualified stock options, restricted stock, restricted stock units, stock appreciation rights, phantom stock, performance awards, or in any combination of the foregoing. The 2018 Plan replaced the 2007 Plan although the 2007 Plan remains in effect for awards previously granted under the 2007 Plan. Under the terms of the 2018 Plan, any shares subject to an award under the 2007 Plan which are not delivered because of the expiration, forfeiture, termination or cash settlement of the award will become available for grant under the 2018 Plan. The Company has issued stock awards to employees and directors in the form of stock options and restricted stock. Options are generally granted with strike prices equal to the fair market value of a share of Celsion common stock on the date of grant. Incentive stock options may be granted to purchase shares of common stock at a price not less than 100% of the fair market value of the underlying shares on the date of grant, provided that the exercise price of any incentive stock option granted to an eligible employee owning more than 10% of the outstanding stock of Celsion must be at least 110% of such fair market value on the date of grant. Only officers and key employees may receive incentive stock options. Option and restricted stock awards vest upon terms determined by the Compensation Committee of the Board of Directors and are subject to accelerated vesting in the event of a change of control or certain terminations of employment. The Company issues new shares to satisfy its obligations from the exercise of options or the grant of restricted stock awards. On September 28, 2018, and again on February 19, 2019, the Compensation Committee of the Board of Directors approved the grant of (i) inducement stock options (the “Inducement Option Grants”) to purchase a total of 164,004 and 140,004 shares of Celsion common stock, respectively and (ii) inducement restricted stock awards (the “Inducement Stock Grants”) totaling 19,000 and 13,000 shares of Celsion common stock to five new employees collectively. Each award has a grant date of the date of grant. Each Inducement Option Grant has an exercise price per share equal to $2.77 and $2.18 which represents the closing price of Celsion’s common stock as reported by Nasdaq on September 28, 2018 and February 19, 2019, respectively. Each Inducement Option Grant will vest over three years, with one-third vesting on the one-year anniversary of the employee’s first day of employment with the Company and one-third vesting on the second and third anniversaries thereafter, subject to the new employee’s continued service relationship with the Company on each such date. Each Inducement Option Grant has a ten-year term and is subject to the terms and conditions of the applicable stock option agreement. Each of Inducement Stock Grant will vest on the one-year anniversary of the employee’s first day of employment with the Company and are subject to the new employee’s continued service relationship with the Company through such date and is subject to the terms and conditions of the applicable restricted stock agreement. As of September 30, 2019, there was a total of 4,580,893 shares of Celsion common stock reserved for issuance under the 2018 Plan which were comprised of 3,726,386 shares of Celsion common stock subject to equity awards previously granted under the 2018 Plan and 2007 Plan and 854,507 shares of Celsion common stock available for future issuance under the 2018 Plan. As of September 30, 2019, there was a total of 246,506 of Celsion common stock subject to outstanding inducement awards. Total compensation cost related to stock options and restricted stock awards amounted to $453,680 and $614,528 for the three-month periods ended September 30, 2019, and 2018, respectively. Of these amounts, $188,264 and $211,947 was charged to research and development during the three-month periods ended September 30, 2019 and 2018, respectively, and $265,416 and $402,581 was charged to general and administrative expenses during the three-month periods ended September 30, 2019 and 2018, respectively. Total compensation cost related to stock options and restricted stock awards amounted to $1,767,522 and $3,985,829 for the nine-month periods ended September 30, 2019, and 2018, respectively. Of these amounts, $668,058 and $1,335,136 was charged to research and development during the nine-month periods ended September 30, 2019 and 2018, respectively, and $1,099,464 and $2,650,693 was charged to general and administrative expenses during the nine-month periods ended September 30, 2019 and 2018, respectively. As of September 30, 2019, there was $1.6 million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements. That cost is expected to be recognized over a weighted-average period of 1.1 years. The weighted average grant date fair values of the stock options granted during the nine-month periods ended September 30, 2019 and 2018 was $1.86 and $2.36, respectively. A summary of stock option awards and restricted stock grants for the nine-months ended September 30, 2019 is presented below: Stock Options Restricted Stock Awards Weighted Average Options Outstanding Weighted Average Exercise Price Non-vested Restricted Stock Outstanding Weighted Average Grant Date Fair Value Contractual Terms of Equity Awards (in years) Equity awards outstanding at January 1, 2019 3,148,743 $ 2.67 22,500 $ 2.72 Equity awards granted 840,754 $ 2.14 24,750 $ 2.07 Vested and issued - $ - (25,500 ) $ 2.49 Equity awards forfeited, cancelled or expired (38,355 ) $ 2.38 - $ - Equity awards outstanding at September 30, 2019 3,951,142 $ 2.56 21,750 $ 2.22 8.7 Aggregate intrinsic value of outstanding equity awards at September 30, 2019 $ - $ 27,500 Equity awards exercisable at September 30, 2019 2,440,699 $ 2.77 8.4 Aggregate intrinsic value of equity awards exercisable at September 30, 2019 $ 33,495 The fair values of stock options granted were estimated at the date of grant using the Black-Scholes option pricing model. The Black-Scholes model was originally developed for use in estimating the fair value of traded options, which have different characteristics from Celsion’s stock options. The model is also sensitive to changes in assumptions, which can materially affect the fair value estimate. The Company used the following assumptions for determining the fair value of options granted under the Black-Scholes option pricing model: Nine Months Ended September 30, 2019 2018 Risk-free interest rate 1.69% - 2.65 % 2.82 -3.02 % Expected volatility 101.3 -106.2 % 99.9 – 102.1 % Expected life (in years) 6.5 - 9.2 8.0-10.0 Expected dividend yield - % - % Expected volatilities utilized in the model are based on historical volatility of the Company’s stock price. The risk-free interest rate is derived from values assigned to U.S. Treasury bonds with terms that approximate the expected option lives in effect at the time of grant. Starting in 2017, the Company elected to account for any forfeitures when they occur. On September 20, 2019, a purported stockholder of the Company filed a derivative and putative class action lawsuit in the Superior Court of New Jersey, Chancery Division, against the Company (as both a class action defendant and nominal defendant), certain officers and directors), with the caption O’Connor v. Braun et al.

Earn-out Milestone Liability

Earn-out Milestone Liability	9 Months Ended
	Sep. 30, 2019
Hercules Warrant [Member]
Earn-out Milestone Liability	Note 13. Earn-out Milestone Liability The total aggregate purchase price for the EGEN asset acquisition included potential future Earn-out Payments contingent upon achievement of certain milestones. The difference between the aggregate $30.4 million in future Earn-out Payments and the $13.9 million included in the fair value of the acquisition consideration at June 20, 2014 was based on the Company’s risk-adjusted assessment of each milestone (10% to 67%) and utilizing a discount rate based on the estimated time to achieve the milestone (1.5 to 2.5 years). The earn-out milestone liability will be fair valued at the end of each quarter and any change in their value will be recognized in the financial statements. On March 28, 2019, the Company and EGWU, Inc, entered into the Amended Asset Purchase Agreement. Pursuant to the Amended Asset Purchase Agreement, payment of the earnout milestone liability related to the Ovarian Cancer Indication of $12.4 million has been modified. The Company has the option to make the payment as follows: a) $7.0 million in cash within 10 business days of achieving the milestone; or b) $12.4 million in cash, common stock of the Company, or a combination of either, within one year of achieving the milestone. The Company provided EGWU, Inc. 200,000 warrants to purchase common stock at a strike price of $0.01 per warrant share as consideration for entering into this amended agreement. The warrant shares have no expiration and were fair valued at $2.00 using the closing price of a share of Celsion stock on the date of issuance offset by the exercise price and recorded as a non-cash expense in the income statement and were classified as equity on the balance sheet. As of September 30, 2019, June 30, 2019, and December 31, 2018, the Company fair valued the earn-out milestone liability at $5.8 million, $5.9 million and $8.9 million, respectively and recognized a non-cash benefit of $0.1 million and $3.1 million for the three and nine-month periods ended September 30, 2019, respectively. In assessing the earnout milestone liability at September 30, 2019 and June 30, 2019, the Company fair valued each of the two payment options per the Amended Asset Purchase Agreement and weighted them at 80% and 20% probability for the $7.0 million and the $12.4 million payments, respectively. As of September 30, 2018, June 30, 2018, and December 31, 2017, the Company fair valued these milestones at $9.0 million, $13.1 million and $12.5 million, respectively, and recognized a non-cash benefit of $4.1 million and 3.6 million during the three and nine-month periods ended September 30, 2018, respectively. The following is a summary of the changes in the earn-out milestone liability for 2019: Balance at January 1, 2019 $ (8,907,664 ) Non-cash gain from the adjustment for the change in fair value 3,088,821 Balance at September 30, 2019 $ (5,818,843 ) The following is a schedule of the Company’s risk-adjustment assessment of each milestone: Date Risk-adjustment Assessment of achieving each Milestone Discount Rate Estimated Time to Achieve September 30, 2019 80% 9% 0.92 to 1.92 years June 30, 2019 80% 9% 0.75 to 1.75 years December 31, 2018 80% 9% 1.25 years September 30, 2018 0% to 80% 9% 0.00 to 1.17 years June 30, 2018 35% to 80% 9% 0.83 to 1.00 years December 31, 2017 35% to 80% 9% 1.33 to 1.50 years

Warrants

Warrants	9 Months Ended
	Sep. 30, 2019
Warrants and Rights Note Disclosure [Abstract]
Warrants	Note 14. Warrants Common Stock Warrants Following is a summary of all warrant activity for the nine months ended September 30, 2019: Warrants Number of Warrants Issued Weighted Average Exercise Price Warrants outstanding at December 31, 2018 1,593,162 $ 5.36 Warrants issued during the nine months ended September 30, 2019 (see Note 13) 200,000 $ 0.01 Warrants expired during the nine months ended September 30, 2019 (1,167,064 ) $ 6.32 Warrants outstanding at September 30, 2019 626,098 $ 1.87 Aggregate intrinsic value of outstanding warrants at September 30, 2019 $ 306,000 Schedule of weighted average remaining contractual terms at September 30, 2019 Number of Warrants Issued Weighted Average Exercise Price Weighted Average Contractual Terms Remaining Warrants provided to EGWU, Inc (Note 13) 200,000 $ 0.01 No expiration All other warrants outstanding 426,098 $ 2.74 5.5 years

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Note 15. Leases In July 2011, the Company executed a lease (the “Lease”) with Brandywine Operating Partnership, L.P. (Brandywine), a Delaware limited partnership for a 10,870 square foot premises located in Lawrenceville, New Jersey. In October 2011, the Company relocated its offices to Lawrenceville, New Jersey from Columbia, Maryland. The Lease had an initial term of 66 months. In late 2015, Lenox Drive Office Park LLC, purchased the real estate and office building and assumed the Lease. This Lease was set to expire on April 30, 2017. In April 2017, the Company and the landlord amended the Lease effective May 1, 2017. The 1 st st st th st nd nd In connection with the EGEN Asset Purchase Agreement in June 2014, the Company assumed the existing lease with another landlord for an 11,500 square foot premises located in Huntsville Alabama. In January 2018, the Company and the Huntsville landlord entered into a new 60-month lease which reduced the premises to 9,049 square feet with rent payments of approximately $18,100 per month. As previously mentioned in Note 4, we adopted ASC Topic 842 on January 1, 2019 using the modified retrospective transition method for all lease arrangements at the beginning of the period of adoption. Results for reporting periods beginning January 1, 2019 are presented under ASC 842, while prior period amounts were not adjusted and continue to be reported in accordance with our historic accounting under Topic 840, Leases. The standard had a material impact on our Consolidated Condensed Balance Sheet but had no impact on our consolidated net earnings and cash flows. The most significant impact of adopting ASC Topic 842 was the recognition of the right-of-use (ROU) asset and lease liabilities for operating leases, which are presented in the following three-line items on the Consolidated Condensed Balance Sheet: (i) operating lease right-of-use asset; (ii) current operating lease liabilities; and (iii) operating lease liabilities. Therefore, on date of adoption of ASC Topic 842, the Company recognized a ROU asset of $1.4 million, operating lease liabilities, current and non-current collectively, of $1.5 million and reduced other liabilities by approximately $0.1 million. We elected the package of practical expedients for leases that commenced before the effective date of ASC Topic 842 whereby we elected to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. In addition, we have lease agreements with lease and non-lease components, and we have elected the practical expedient for all underlying asset classes and account for them as a single lease component. We have no finance leases. We determine if an arrangement is a lease at inception. We have operating leases for office space and research and development facilities. Neither of our leases include options to renew, however, one contains an option for early termination. We considered the option of early termination in measurement of right-of-use assets and lease liabilities and we determined it is not reasonably certain to be terminated. In connection with the 2 nd Following is a table of the lease payments and maturity of our operating lease liabilities as of September 30, 2019: For the year ending December 31, Remainder of 2019 $ 130,631 2020 525,809 2021 530,734 2022 535,579 2023 233,117 2024 and thereafter - Subtotal future lease payments 1,955,870 Less imputed interest (334,155 ) Total lease liabilities $ 1,621,715 Weighted average remaining life 3.70 years Weighted average discount rate 9.98 % For the three-month and nine-month periods ended September 30, 2019, operating lease cost was $130,595 and $391,785, respectively. During the three-month and nine-month periods ended September 30, 2019, cash paid for operating leases included in operating cash flows was $130,631 and $355,216, respectively. For the three-month and nine-month periods ended September 30, 2018, operating lease cost was $109,554 and $334,107 respectively. During the three-month and nine-month periods ended September 30, 2018, cash paid for operating leases included in operating cash flows was $111,977 and $340,115, respectively.

Technology Development and Lice

Technology Development and Licensing Agreements	9 Months Ended
	Sep. 30, 2019
Technology Development And Licensing Agreements
Technology Development and Licensing Agreements	Note 16. Technology Development and Licensing Agreements On May 7, 2012, the Company entered into a long-term commercial supply agreement with Zhejiang Hisun Pharmaceutical Co. Ltd. (Hisun) for the production of ThermoDox ® ® ® ® ® ® On January 18, 2013, we entered into a technology development contract with Hisun, pursuant to which Hisun paid us a non-refundable research and development fee of $5 million to support our development of ThermoDox ® ® ® ® On July 19, 2013, the Company and Hisun entered into a Memorandum of Understanding to pursue ongoing cooperation for the continued clinical development of ThermoDox ® ® Among the key provisions of the Celsion-Hisun Memorandum of Understanding are: ● Hisun will provide the Company with internal resources necessary to complete the technology transfer of the Company’s proprietary manufacturing process and the production of registration batches for the China territory; ● Hisun will coordinate with the Company around the clinical and regulatory approval activities for ThermoDox ® ● Hisun will be granted a right of first ® ® On August 8, 2016, we signed a Technology Transfer, Manufacturing and Commercial Supply Agreement (“GEN-1 Agreement”) with Hisun to pursue an expanded partnership for the technology transfer relating to the clinical and commercial manufacture and supply of GEN- 1, Celsion’s proprietary gene mediated, IL- 12 immunotherapy, for the greater China territory, with the option to expand into other countries in the rest of the world after all necessary regulatory approvals are in effect. The GEN- 1 Agreement will help to support supply for both ongoing and planned clinical studies in the U.S., and for potential future studies of GEN- 1 in China. GEN- 1 is currently being evaluated by Celsion in first line ovarian cancer patients. Key provisions of the GEN-1 Agreement are as follows: ● the GEN-1 Agreement has targeted unit costs for clinical supplies of GEN-1 that are substantially competitive with the Company’s current suppliers; ● once approved, the cost structure for GEN-1 will support rapid market adoption and significant gross margins across global markets; ● Celsion will provide Hisun a certain percentage of China’s commercial unit demand, and separately of global commercial unit demand, subject to regulatory approval; ● Hisun and Celsion will commence technology transfer activities relating to the manufacture of GEN-1, including all studies required by CHINA FDA for site approval; and ● Hisun will collaborate with Celsion around the regulatory approval activities for GEN-1 with the CHINA FDA. A local China partner affords Celsion access to accelerated CHINA FDA review and potential regulatory exclusivity for the approved indication. The Company evaluated the Hisun arrangement in accordance with ASC 606 and determined that its performance obligations under the agreement include the non-exclusive, royalty-free license, research and development services to be provided by the Company, and its obligation to serve on a joint committee. The Company concluded that the license was not distinct since its value is closely tied to the ongoing research and development activities. As such, the license and the research and development services are be bundled as a single performance obligation. Since the provision of the license and research and development services are considered a single performance obligation, the $5,000,000 upfront payment is being recognized as revenue ratably through 2022.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Cost, Fair Value and Maturities of Short Term Investments	A summary of the cost, fair value and maturities of the Company’s short-term investments is as follows: September 30, 2019 December 31, 2018 Cost Fair Value Cost Fair Value Short-term investments Corporate debt securities $ 10,256,303 $ 10,290,378 $ 14,228,126 $ 14,257,998 Total $ 10,256,303 $ 10,290,378 $ 14,228,126 $ 14,257,998 September 30, 2019 December 31, 2018 Cost Fair Value Cost Fair Value Short-term investment maturities Within 3 months $ 5,473,222 $ 5,490,085 $ 5,383,488 $ 5,393,743 Between 3-12 months 4,783,081 4,800,293 8,844,638 8,864,255 Total $ 10,256,303 $ 10,290,378 $ 14,228,126 $ 14,257,998
Schedule of Unrealized Losses and Fair Value of Investment Securities	The Company has reviewed individual securities to determine whether a decline in fair value below the amortizable cost basis is other than temporary. September 30, 2019 December 31, 2018 Available for sale securities Fair Value Unrealized Holding Gains (Losses) Fair Value Unrealized Holding Gains (Losses) Investments with unrealized gains $ 8,984,425 $ 34,233 $ 7,515,676 $ 38,068 Investments with unrealized losses 1,305,953 (158 ) 6,742,322 (8,196 ) Total $ 10,290,378 $ 34,075 $ 14,257,998 $ 29,872
Schedule of Investment Income	Investment income, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows: Three Months Ended September 30, 2019 2018 Interest and dividends accrued and paid $ 116,371 $ 103,777 Realized gains 58,068 2,788 Investment income, net $ 174,439 $ 106,565 Nine Months Ended September 30, 2019 2018 Interest and dividends accrued and paid $ 364,414 $ 242,625 Realized gains 68,418 11,125 Investment income, net $ 432,832 $ 253,750

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets and Liabilities	The table below summarizes assets and liabilities measured at fair value. This table only includes those assets and liabilities with fair values that have changed since December 31, 2018: Total Fair Value Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Recurring items as of September 30, 2019 Corporate debt securities, available for sale $ 10,290,378 $ ─ $ 10,290,378 $ ─ Recurring items as of December 31, 2018 Corporate debt securities, available for sale $ 14,257,998 $ ─ $ 14,257,998 $ ─ Liabilities: Recurring items as of September 30, 2019 Earn-out milestone liability (Note 13) $ 5,818,843 $ ─ $ ─ $ 5,818,843 Recurring items as of December 31, 2018 Earn-out milestone liability (Note 13) $ 8,907,664 $ ─ $ ─ $ 8,907,664

Acquisition of EGEN Assets (Tab

Acquisition of EGEN Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Schedule of Future Amortization Amounts During the Remaining Life	Following is a schedule of future amortization amounts during the remaining life of the Covenant Not to Compete. Year Ended September 30, 2020 $ 227,316 2021 170,489 2022 and thereafter - Total $ 397,805
Schedule of Fair Value of Assets Acquired	Following is a summary of the net fair value of the assets acquired in the EGEN asset acquisition for the nine-month period ended September 30, 2019: IPR&D Goodwill Covenant Not To Compete For the nine-months ended September 30, 2019 Balance at January 1, 2019, net $ 15,736,491 $ 1,976,101 $ 568,292 Amortization - - (170,487 ) Balance at September 30, 2019, net $ 15,736,491 $ 1,976,101 $ 397,805

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Schedule of Other Accrued Liabilities	Other accrued liabilities at September 30, 2019 and December 31, 2018 include the following: September 30, 2019 December 31, 2018 (Unaudited) Amounts due to contract research organizations and other contractual agreements $ 587,635 $ 749,369 Accrued payroll and related benefits 1,555,574 1,592,590 Accrued professional fees 234,154 198,654 Other 19,410 45,285 Total $ 2,396,773 $ 2,585,898

Note Payable (Tables)

Note Payable (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Future Principle Payments, Net of Unamortized Debt Discounts	Following is a schedule of future principal payments, net of unamortized debt discounts and amortized end of term charges, due on the Horizon Credit Agreement: As of September 30, 2020 $ 833,334 2021 4,583,333 2022 4,583,333 2023 and thereafter - Subtotal of future principal payments 10,000,000 Unamortized debt issuance costs, net (293,781 ) $ 9,706,219

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Awards and Restricted Stock Grants	A summary of stock option awards and restricted stock grants for the nine-months ended September 30, 2019 is presented below: Stock Options Restricted Stock Awards Weighted Average Options Outstanding Weighted Average Exercise Price Non-vested Restricted Stock Outstanding Weighted Average Grant Date Fair Value Contractual Terms of Equity Awards (in years) Equity awards outstanding at January 1, 2019 3,148,743 $ 2.67 22,500 $ 2.72 Equity awards granted 840,754 $ 2.14 24,750 $ 2.07 Vested and issued - $ - (25,500 ) $ 2.49 Equity awards forfeited, cancelled or expired (38,355 ) $ 2.38 - $ - Equity awards outstanding at September 30, 2019 3,951,142 $ 2.56 21,750 $ 2.22 8.7 Aggregate intrinsic value of outstanding equity awards at September 30, 2019 $ - $ 27,500 Equity awards exercisable at September 30, 2019 2,440,699 $ 2.77 8.4 Aggregate intrinsic value of equity awards exercisable at September 30, 2019 $ 33,495
Schedule of Assumptions Used to Determine Fair Value of Options Granted	The Company used the following assumptions for determining the fair value of options granted under the Black-Scholes option pricing model: Nine Months Ended September 30, 2019 2018 Risk-free interest rate 1.69% - 2.65 % 2.82 -3.02 % Expected volatility 101.3 -106.2 % 99.9 – 102.1 % Expected life (in years) 6.5 - 9.2 8.0-10.0 Expected dividend yield - % - %

Earn-out Milestone Liability (T

Earn-out Milestone Liability (Tables)	9 Months Ended
	Sep. 30, 2019
Hercules Warrant [Member]
Schedule of Changes in Earn-out Milestone Liability	The following is a summary of the changes in the earn-out milestone liability for 2019: Balance at January 1, 2019 $ (8,907,664 ) Non-cash gain from the adjustment for the change in fair value 3,088,821 Balance at September 30, 2019 $ (5,818,843 )
Schedule of Milestone Risk Adjustment Assessment	The following is a schedule of the Company’s risk-adjustment assessment of each milestone: Date Risk-adjustment Assessment of achieving each Milestone Discount Rate Estimated Time to Achieve September 30, 2019 80% 9% 0.92 to 1.92 years June 30, 2019 80% 9% 0.75 to 1.75 years December 31, 2018 80% 9% 1.25 years September 30, 2018 0% to 80% 9% 0.00 to 1.17 years June 30, 2018 35% to 80% 9% 0.83 to 1.00 years December 31, 2017 35% to 80% 9% 1.33 to 1.50 years

Warrants (Tables)

Warrants (Tables)	9 Months Ended
	Sep. 30, 2019
Warrants and Rights Note Disclosure [Abstract]
Summary of Warrant Activity	Following is a summary of all warrant activity for the nine months ended September 30, 2019: Warrants Number of Warrants Issued Weighted Average Exercise Price Warrants outstanding at December 31, 2018 1,593,162 $ 5.36 Warrants issued during the nine months ended September 30, 2019 (see Note 13) 200,000 $ 0.01 Warrants expired during the nine months ended September 30, 2019 (1,167,064 ) $ 6.32 Warrants outstanding at September 30, 2019 626,098 $ 1.87 Aggregate intrinsic value of outstanding warrants at September 30, 2019 $ 306,000
Schedule of Weighted Average Remaining Contractual Terms	Schedule of weighted average remaining contractual terms at September 30, 2019 Number of Warrants Issued Weighted Average Exercise Price Weighted Average Contractual Terms Remaining Warrants provided to EGWU, Inc (Note 13) 200,000 $ 0.01 No expiration All other warrants outstanding 426,098 $ 2.74 5.5 years

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of Lease Payments and Maturity of Our Operating Lease Liabilities	Following is a table of the lease payments and maturity of our operating lease liabilities as of September 30, 2019: For the year ending December 31, Remainder of 2019 $ 130,631 2020 525,809 2021 530,734 2022 535,579 2023 233,117 2024 and thereafter - Subtotal future lease payments 1,955,870 Less imputed interest (334,155 ) Total lease liabilities $ 1,621,715 Weighted average remaining life 3.70 years Weighted average discount rate 9.98 %

Financial Condition and Busin_2

Financial Condition and Business Plan (Details Narrative) - USD ($)	1 Months Ended		9 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jan. 02, 2019
Cumulated net losses	$ (273,665,247)		$ (287,414,021)
Cash, investment securities and interest receivable			18,800,000
New Jersey [Member]
Cash, investment securities and interest receivable			18,800,000
Tax benefits of EDA		$ 11,100,000
Net cash proceeds for net operating loss	$ 10,400,000
Unrecognized tax benefits				$ 3,900,000
Net cash proceeds from receipts			2,000,000
New Jersey [Member] | Maximum [Member]
Tax benefits of EDA			$ (12,500,000)

New Accounting Pronouncements (

New Accounting Pronouncements (Details Narrative) - USD ($)	Sep. 30, 2019	Jan. 02, 2019	Dec. 31, 2018
Right-of-use assets	$ 1,521,869	$ 400,000
Operating lease liabilities	1,621,715	1,900,000
Accounting Standards Update 2016-02 [Member]
Right-of-use assets	1,400,000	1,400,000
Operating lease liabilities	1,500,000	1,500,000
Reduced other liabilities	$ 100,000	$ 100,000

Net Loss Per Common Share (Deta

Net Loss Per Common Share (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Number of shares of common stock issuable upon exercise of warrants and equity awards	6,496,261	4,598,990	6,496,261
Warrant exercise price		$ 0.01
Warrant exercisable for common sock		200,000
Dividend payable

Fair Values of Financial Instru

Fair Values of Financial Instruments (Details Narrative) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Investment securities - available for sale, at fair value	$ 10,290,378	$ 14,257,998

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Cost, Fair Value and Maturities of Short Term Investments (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Short-term investments - Cost	$ 10,256,303	$ 14,228,126
Short-term investments - Fair Value	10,290,378	14,257,998
Short-term investment maturities - Within 3 months, cost	5,473,222	5,383,488
Short-term investment maturities - Between 3-12 months, cost	4,783,081	8,844,638
Total, cost	10,256,303	14,228,126
Short-term investment maturities - Within 3 months, fair value	5,490,085	5,393,743
Short-term investment maturities - Between 3-12 months, fair value	4,800,293	8,864,255
Total, fair value	10,290,378	14,257,998
Corporate Debt Securities [Member]
Short-term investments - Cost	10,256,303	14,228,126
Short-term investments - Fair Value	$ 10,290,378	$ 14,257,998

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Unrealized Losses and Fair Value of Investment Securities (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Less than 12 months, unrealized holding (gains) losses, fair value	$ 8,984,425	$ 7,515,676
Less than 12 months, unrealized holding gains (losses), fair value	1,305,953	6,742,322
Investment securities - available for sale, at fair value	10,290,378	14,257,998
Less than 12 months, unrealized holding (gains) losses	34,233	38,068
Less than 12 months, unrealized holding gains (losses)	(158)	(8,196)
Unrealized holding gains (losses)	$ 34,075	$ 29,872

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of Investment Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Interest and dividends accrued and paid	$ 116,371	$ 103,777	$ 364,414	$ 242,625
Realized gains	58,068	2,788	68,418	11,125
Investment income, net	$ 174,439	$ 106,565	$ 432,832	$ 253,750

Fair Value Measurements (Detail

Fair Value Measurements (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount
Fair Value, Net Derivative Asset (liability) Measured On Recurring Basis, Unobservable Inputs Reconciliation, Transfers Into Level 3

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Assets and Liabilities (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Investment securities, available for sale	$ 10,290,378	$ 14,257,998
Earn-out milestone liability	5,818,843	8,907,664
Corporate Debt Securities [Member]
Investment securities, available for sale	10,290,378	14,257,998
Fair Value, Measurements, Recurring [Member]
Earn-out milestone liability	5,818,843	8,907,664
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Earn-out milestone liability
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Earn-out milestone liability
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Earn-out milestone liability	5,818,843	8,907,664
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]
Investment securities, available for sale	10,290,378	14,257,998
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities, available for sale
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Investment securities, available for sale	10,290,378	14,257,998
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities, available for sale

Acquisition of EGEN Assets (Det

Acquisition of EGEN Assets (Details Narrative) - USD ($)	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2016	Jun. 20, 2014	Jun. 20, 2014	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Asset impairment charges, total									$ 2,400,000
Business combination, consideration transferred, liabilities incurred											$ 4,500,000	$ 2,500,000
Finite-lived intangible assets, net						$ 397,805			397,805		568,292
2018 Aspire Purchase Agreements [Member]
Finite-lived intangible assets, net						397,805			397,805
Finite-lived intangible assets, accumulated amortization						1,193,409			1,193,409
Aspire Purchase Agreement [Member]
Finite-lived intangible assets, net											568,292
Finite-lived intangible assets, accumulated amortization											$ 1,022,922
IPR&D Drug Technology Platforms [Member]
Asset impairment charges, total			$ 1,400,000
EGEN Inc [Member]
Potential future earn-out payments				$ 30,400,000	$ 30,400,000
Payments to acquire businesses, gross					$ 3,000,000
Stock issued during period, shares, acquisitions					241,590
Business combination, consideration transferred, liabilities incurred				13,900,000				$ 13,100,000		$ 9,000,000		$ 12,500,000
Goodwill, acquisition									2,000,000
EGEN Inc [Member] | Purchase Agreement [Member]
Finite-lived intangible assets acquired									$ 1,600,000
Finite-lived intangible asset, useful life									7 years
Amortization expense						$ 56,829	$ 56,829		$ 170,487	$ 170,487
EGEN Inc [Member] | Glioblastoma Multiforme Brain Cancer [Member]
Asset impairment charges, total	$ 9,400,000	$ 9,400,000
EGEN Inc [Member] | IPR&D Drug Technology Platforms [Member]
Indefinite lived intangible assets									$ 24,200,000
EGEN Inc [Member] | Maximum [Member]
Total purchase price for asset acquisition					$ 44,400,000
Potential future earn-out payments				$ 30,400,000	$ 30,400,000

Acquisition of EGEN Assets - Sc

Acquisition of EGEN Assets - Schedule of Future Amortization Amounts During the Remaining Life (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Total	$ 397,805	$ 568,292
Noncompete Agreements [Member]
2020	227,316
2021	170,489
2022 and thereafter
Total	$ 397,805

Acquisition of EGEN Assets - _2

Acquisition of EGEN Assets - Schedule of Fair Value of Assets Acquired (Details)	9 Months Ended
	Sep. 30, 2019USD ($)
Intangible assets, beginning balance	$ 568,292
Amortization	(170,487)
Intangible assets, ending balance	397,805
IPR&D [Member]
Intangible assets, beginning balance	15,736,491
Amortization
Intangible assets, ending balance	15,736,491
Goodwill [Member]
Intangible assets, beginning balance	1,976,101
Amortization
Intangible assets, ending balance	$ 1,976,101

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Other Accrued Liabilities (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Amounts due to contract research organizations and other contractual agreements	$ 587,635	$ 749,369
Accrued payroll and related benefits	1,555,574	1,592,590
Accrued professional fees	234,154	198,654
Other	19,410	45,285
Total	$ 2,396,773	$ 2,585,898

Note Payable (Details Narrative

Note Payable (Details Narrative) - USD ($)	Jun. 27, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Warrant exercise price		$ 0.01		$ 0.01
Financing fees and expenses		$ 349,602	$ 345,728	$ 1,049,797	$ 360,759
Horizon Credit Agreement [Member]
Debt effective interest rate						9.98%
Percentage of outstanding principle balance, description
Interest expense, debt, total		252,144	248,270	$ 760,615	259,064
Amortization of debt issuance costs		$ 97,458	$ 97,458	$ 289,182	$ 101,695
Horizon Credit Agreement [Member] | Horizon Warrants [Member]
Class of warrant or right exercisable	190,114
Warrant exercise price	$ 2.63
Debt instrument, unamortized discount, total	$ 507,116
Horizon Credit Agreement [Member] | LIBOR plus [Member]
Interest rate	7.625%
Loan Agreement [Member] | Horizon Technology Finance Corporation [Member]
Line of credit facility, maximum borrowing capacity	$ 10,000,000
Horizon Credit Agreement [Member]
Proceeds from lines of credit, total	$ 10,000,000
Percentage of outstanding principle balance, description	An amount equal to 1-3%
Debt instrument, unamortized discount, total	$ 782,116
Financing fees and expenses	175,000
Loan origination fees	$ 100,000
Percentage for original debt, amount	4.00%
Interest expense, debt, total	$ 400,000

Note Payable - Schedule of Futu

Note Payable - Schedule of Future Principle Payments, Net of Unamortized Debt Discounts (Details)	Sep. 30, 2019USD ($)
Debt Disclosure [Abstract]
2020	$ 833,334
2021	4,583,333
2022	4,583,333
2023 and thereafter
Subtotal of future principal payments	10,000,000
Unamortized debt issuance costs, net	(293,781)
Total	$ 9,706,219

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)	Oct. 28, 2019	Dec. 04, 2018	Aug. 31, 2018	Nov. 13, 2019	Oct. 27, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Shelf registration statement amount						$ 75,000,000
Fair value of common stock issued as equity issuance costs and charged against paid in capital								$ 450,000
Proceeds from issuance of common stock							$ 6,175,527	$ 1,236,584
2018 Aspire Purchase Agreements [Member]
Fair value of common stock issued as equity issuance costs and charged against paid in capital						$ 450,000
2018 Aspire Purchase Agreements [Member]
Aggregate offering price, additions			$ 15,000,000
Aggregate offering price, term			24 months
Maximum number of shares purchased per business day			100,000
Aggregate offering price			$ 15,000,000
Aggregate offering price, description			The lowest sale price of the Company's common stock on the purchase date; or the arithmetic average of the three (3) lowest closing sale prices for the Company's common stock during the ten (10) consecutive trading days ending on the trading day immediately preceding the purchase date.
Aspire purchase agreement, terms			In addition, on any date on which the Company submits a Purchase Notice to Aspire Capital in an amount equal to at least 100,000 shares, the Company also has the right, in its sole discretion, to present Aspire Capital with a volume-weighted average price purchase notice (each, a "VWAP Purchase Notice") directing Aspire Capital to purchase an amount of stock equal to up to 30% of the aggregate shares of the Company's common stock traded on its principal market on the next trading day (the "VWAP Purchase Date"), subject to a maximum number of shares the Company may determine. The purchase price per share pursuant to such VWAP Purchase Notice is generally 97% of the volume-weighted average price for the Company's common stock traded on its principal market on the VWAP Purchase Date.
Maximum number of shares purchased per business day, additional			2,000,000
Stock issued during period, shares, new issues			164,835				2,800,000		100,000
Proceeds from issuance of common stock							$ 5,500,000		$ 200,000
2018 Aspire Purchase Agreements [Member] | Subsequent Event [Member]
Stock issued during period, shares, new issues					515,598
Proceeds from issuance of common stock					$ 800,000
2019 Aspire Purchase Agreements [Member]
Stock issued during period, shares, new issues							100,000
2019 Aspire Purchase Agreements [Member] | Subsequent Event [Member]
Aggregate offering price, additions	$ 10,000,000
Aggregate offering price, term	24 months
Maximum number of shares purchased per business day	100,000
Aggregate offering price	$ 10,000,000
Aggregate offering price, description	The lowest sale price of the Company's common stock on the purchase date; or the arithmetic average of the three (3) lowest closing sale prices for the Company's common stock during the ten (10) consecutive trading days ending on the trading day immediately preceding the purchase date.
Aspire purchase agreement, terms	In addition, on any date on which the Company submits a Purchase Notice to Aspire Capital in an amount of 100,000 shares, the Company also has the right, in its sole discretion, to present Aspire Capital with a VWAP Purchase Notice directing Aspire Capital to purchase an amount of stock equal to up to 30% of the aggregate shares of the Company's common stock traded on the VWAP Purchase Date, subject to a maximum number of shares the Company may determine. The purchase price per share pursuant to such VWAP Purchase Notice is generally 97% of the volume-weighted average price for the Company's common stock traded on its principal market on the VWAP Purchase Date.
Capital on DemandTM Sales Agreement [Member]
Aggregate offering price		$ 16,000,000
Aggregate offering price, description		(i) the sale of all shares of our common stock subject to the Sales Agreement, and (ii) the termination of the Capital on Demand Agreement by JonesTrading or Celsion. The Capital on Demand Agreement may be terminated by JonesTrading or the Company at any time upon 10 days' notice to the other party, or by JonesTrading at any time in certain circumstances, including the occurrence of a material adverse change in the Company.
Commission percentage for gross proceeds from common stock		3.00%
Capital on Demand Agreement [Member]
Stock issued during period, shares, new issues							345,084
Proceeds from issuance of common stock							$ 800,000
Aggregate value available for issuance							$ 1,520,000
Capital on Demand Agreement [Member] | Subsequent Event [Member]
Stock issued during period, shares, new issues				125,302
Proceeds from issuance of common stock				$ 213,000

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative) - USD ($)	Feb. 19, 2019	Sep. 28, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Unrecognized compensation cost related to non-vested stock based compensation			$ 1,600,000		$ 1,600,000
Stock based compensation cost expected to be recognized, weighted average period					1 year 1 month 6 days
Weighted average grant date fair value of stock option awards granted					$ 1.86	$ 2.36
Research and Development Expense [Member]
Compensation cost			188,264	$ 211,947	$ 668,058	$ 1,335,136
General and Administrative Expenses [Member]
Compensation cost			265,416	402,581
General and Administrative Expense [Member]
Compensation cost					1,099,464	2,650,693
Restricted Stock Awards [Member]
Compensation cost			$ 614,528	614,528	$ 3,985,829	3,985,829
Weighted average grant date fair value of stock option awards granted					$ 2.07
Equity Stock Awards [Member]
Number of shares reserved for future issuance			4,580,893		4,580,893
Inducement Awards [Member]
Number of shares reserved for future issuance			246,506		246,506
Stock Options [Member]
Inducement option grant, exercise price per share					$ 2.14
Compensation cost			$ 453,680	$ 453,680	$ 1,767,522	$ 1,767,522
2018 Stock Incentive Plan [Member]
Equity awards, number of stock authorized			2,700,000		2,700,000
Percentage of fair market value of shares			100.00%		100.00%
Percentage of outstanding stock determining factor for incentive stock price			10.00%		10.00%
Number of shares reserved for future issuance			3,726,386		3,726,386
2018 Stock Incentive Plan [Member] | Minimum [Member]
Number of equity awards available for future issuance			1,200,000		1,200,000
Percentage of fair market value of shares			110.00%		110.00%
2018 Stock Incentive Plan [Member] | Maximum [Member]
Number of equity awards available for future issuance			3,900,000		3,900,000
2007 Stock Incentive Plan [Member]
Equity awards, number of stock authorized			688,531		688,531
Number of shares reserved for future issuance			854,507		854,507
Inducement Option Grants [Member] | Five New Employees [Member]
Inducement option grant, exercise price per share	$ 2.18	$ 2.77
Option vested period	3 years	3 years
Options expiration period	10 years	10 years
Inducement Option Grants [Member] | Five New Employees [Member] | Restricted Stock Awards [Member]
Number of shares issued	13,000	19,000
Inducement Option Grants [Member] | Five New Employees [Member] | Common Stock [Member]
Number of shares issued	140,004	164,004

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Option Awards and Restricted Stock Grants (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Weighted Average Grant Date Fair Value, Equity awards granted	$ 1.86	$ 2.36
Stock Options [Member]
Number Outstanding, Outstanding, Beginning Balance	3,148,743
Number Outstanding, Equity awards granted	840,754
Number Outstanding, Vested and issued
Number Outstanding, Forfeited, cancelled or expired	(38,355)
Number Outstanding, Ending Balance	3,951,142
Number Outstanding, Exercisable
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 2.67
Weighted Average Exercise Price, Equity awards granted	2.14
Weighted Average Exercise Price, Vested and issued
Weighted Average Exercise Price, Forfeited, cancelled or expired	2.38
Weighted Average Exercise Price, Outstanding, Ending Balance	2.56
Weighted Average Exercise Price, Exercisable	$ 2.77
Weighted Average Remaining Contractual Term (years), Outstanding, Ending Balance	8 years 8 months 12 days
Weighted Average Remaining Contractual Term (years), Exercisable	8 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding, Ending Balance	$ 2,440,699
Aggregate Intrinsic Value, Exercisable	$ 33,495
Restricted Stock Awards [Member]
Non-vested stock awards outstanding, Beginning Balance	22,500
Non-vested stock awards outstanding, Equity awards granted	24,750
Non-vested stock awards outstanding, Vested and issued	(25,500)
Non-vested stock awards outstanding, Equity awards forfeited, cancelled or expired
Non-vested stock awards outstanding, Ending Balance	21,750
Non-vested stock awards outstanding, Aggregate intrinsic value, Ending Balance	$ 27,500
Weighted Average Grant Date Fair Value, Beginning Balance	$ 2.72
Weighted Average Grant Date Fair Value, Equity awards granted	2.07
Weighted Average Grant Date Fair Value, Vested and issued	2.49
Weighted Average Grant Date Fair Value, Forfeited, cancelled or expired
Weighted Average Grant Date Fair Value, Ending Balance	$ 2.22

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Assumptions Used to Determine Fair Value of Options Granted (Details)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Risk-free interest rate, minimum	1.69%	2.82%
Risk-free interest rate, maximum	2.65%	3.02%
Expected volatility, minimum	101.30%	99.90%
Expected volatility, maximum	106.20%	102.10%
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Expected life (in years)	6 years 6 months	8 years
Maximum [Member]
Expected life (in years)	9 years 2 months 12 days	10 years

Earn-out Milestone Liability (D

Earn-out Milestone Liability (Details Narrative) - USD ($)	Jun. 20, 2014	Jun. 20, 2014	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Mar. 28, 2019
Fair value of Acquisition consideration									$ 4,500,000	$ 2,500,000
Warrants exercise price			$ 0.01				$ 0.01
Gain (loss) from change in fair value of earn out milestone liability							$ 3,088,821
EGEN Inc [Member]
Future earn-out payments	$ 30,400,000	$ 30,400,000
Fair value of Acquisition consideration	$ 13,900,000					$ 13,100,000		$ 9,000,000		$ 12,500,000
Warrants to purchase common stock				200,000				200,000
Warrants strike price				$ 0.01				$ 0.01
Warrants exercise price				$ 2				$ 2
EGEN Inc [Member] | Amended Asset Purchase Agreement [Member]
Earnout milestone liability											$ 12,400,000
EGEN Inc [Member] | Amended Asset Purchase Agreement [Member] | 10 Business Days of Achieving Milestone [Member]
Earnout milestone liability											7,000,000
EGEN Inc [Member] | Amended Asset Purchase Agreement [Member] | Within One Year of Achieving Milestone [Member]
Earnout milestone liability											$ 12,400,000
EGEN Inc [Member] | Fair Value Earnout Milestone Liability [Member]
Fair value of Acquisition consideration					$ 5,900,000		5,800,000		$ 8,900,000
Non-cash benefit			$ 100,000				$ 3,100,000
EGEN Inc [Member] | Amended Asset Purchase Agreement Option Payment 2 [Member]
Risk adjusted assessment of each milestone			80.00%				80.00%
EGEN Inc [Member] | Amended Asset Purchase Agreement Option Payment 1 [Member]
Risk adjusted assessment of each milestone					20.00%
Gain (loss) from change in fair value of earn out milestone liability					$ 12,400,000		$ 7,000,000
EGEN Inc [Member] | Recognized Non-cash Charge [Member]
Fair value of Acquisition consideration				$ 4,100,000				$ 3,600,000
EGEN Inc [Member] | Minimum [Member]
Risk adjusted assessment of each milestone	10.00%	10.00%
Estimated time to achieve the milestone	1 year 6 months
EGEN Inc [Member] | Maximum [Member]
Future earn-out payments	$ 30,400,000	$ 30,400,000
Risk adjusted assessment of each milestone	67.00%	67.00%
Estimated time to achieve the milestone		2 years 6 months

Earn-out Milestone Liability -

Earn-out Milestone Liability - Schedule of Changes in Earn-out Milestone Liability (Details)	9 Months Ended
	Sep. 30, 2019USD ($)
Hercules Warrant [Member]
Earn-out liabilities, beginning balance	$ (8,907,664)
Non-cash charge from the adjustment for the change in fair value included in net loss	3,088,821
Earn-out liabilities, ending balance	$ (5,818,843)

Earn-out Milestone Liability _2

Earn-out Milestone Liability - Schedule of Milestone Risk Adjustment Assessment (Details)	6 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Risk-adjustment Assessment of achieving each Milestone	80.00%		80.00%		80.00%
Discount Rate	9.00%	9.00%	9.00%	9.00%	9.00%	9.00%
Estimated Time to Achieve					1 year 2 months 30 days
Minimum [Member]
Risk-adjustment Assessment of achieving each Milestone		35.00%		0.00%		35.00%
Estimated Time to Achieve	9 months	9 months 29 days	11 months 1 day	0 years		1 year 3 months 29 days
Maximum [Member]
Risk-adjustment Assessment of achieving each Milestone		80.00%		80.00%		80.00%
Estimated Time to Achieve	1 year 9 months	1 year	1 year 11 months 1 day	1 year 2 months 1 day		1 year 6 months

Warrants - Summary of Warrant A

Warrants - Summary of Warrant Activity (Details)	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Warrants and Rights Note Disclosure [Abstract]
Number of Warrants Issued, Warrants Outstanding, Beginning Balance | shares	1,593,162
Number of Warrants Issued, Warrants Issued | shares	200,000
Number of Warrants Issued, Warrants Expired | shares	(1,167,064)
Number of Warrants Issued, Warrants Outstanding, Ending Balance | shares	626,098
Aggregate Intrinsic Value of Outstanding Warrants | $	$ 306,000
Weighted Average Exercise Price, Warrants Outstanding, Beginning Balance | $ / shares	$ 5.36
Weighted Average Exercise Price, Warrants Issued | $ / shares	0.01
Weighted Average Exercise Price, Warrants Expired | $ / shares	6.32
Weighted Average Exercise Price, Warrants Outstanding and Exercisable, Ending Balance | $ / shares	$ 1.87

Warrants - Schedule of Weighted

Warrants - Schedule of Weighted Average Remaining Contractual Terms (Details)	9 Months Ended
	Sep. 30, 2019$ / sharesshares
All Other Warrants [Member]
Weighted Average Exercise Price | $ / shares	$ 2.74
Weighted Average Contractual Terms Remaining (in years)	5 years 6 months
Warrants Outstanding | shares	426,098
EGWU, Inc [Member]
Number of Warrants Issued | shares	200,000
Weighted Average Exercise Price | $ / shares	$ 0.01
Weighted Average Contractual Terms Remaining (in years)	0 years

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	Jan. 02, 2019	Jan. 31, 2018	Jul. 31, 2011	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Lease description			In July 2011, the Company executed a lease (the "Lease") with Brandywine Operating Partnership, L.P. (Brandywine), a Delaware limited partnership for a 10,870 square foot premises located in Lawrenceville, New Jersey. In October 2011, the Company relocated its offices to Lawrenceville, New Jersey from Columbia, Maryland.
Lease expiration date			Apr. 30, 2017
Lease, term of contract			66 months
Lease, renewal term			64 months
Lease, option to extend						The 1st Lease Amendment extended the term of the agreement for an additional 64 months, reduced the premises to 7,565 square feet, reduced the monthly rent and provided four months free rent. The monthly rent ranged from approximately $18,900 in the first year to approximately $20,500 in the final year of the 1st Lease Amendment. The Company also had a one-time option to cancel the lease as of the 40th month after the commencement date of the 1st Lease Amendment and must provide the landlord notice by the 28th month of the lease. Effective January 9, 2019, the Company amended the current terms of the 1st Lease Amendment to increase the size of the premises by 2,285 square feet to 9,850 square feet and also extended the lease term by one year to September 1, 2023. In conjunction with this 2nd Lease Amendment, we agreed to modify our one-time option to cancel the lease as of the end of August 2021 and we must provide notice to the landlord by the end of August 2020. The monthly rent will range from approximately $25,035 in the first year to approximately $27,088 in the final year of the 2nd Lease Amendment.
ROU asset	$ 400,000			$ 1,521,869		$ 1,521,869
Operating lease liabilities	1,900,000			1,621,715		1,621,715
Increased ROU asset	1,800,000					1,797,561
Operating lease costs				130,595	$ 109,554	391,785	334,107
Operating cash flows from operating leases				130,631	$ 111,977	355,216
Accounting Standards Update 2016-02 [Member]
ROU asset	1,400,000			1,400,000		1,400,000
Operating lease liabilities	1,500,000			1,500,000		1,500,000
Other liabilities	$ 100,000			$ 100,000		100,000
1st Lease Amendment [Member] | First Year [Member]
Lease, rent payment						18,900
1st Lease Amendment [Member] | Final Year [Member]
Lease, rent payment						20,500
2nd Lease Amendment [Member] | First Year [Member]
Lease, rent payment						25,035
2nd Lease Amendment [Member] | Final Year [Member]
Lease, rent payment						$ 27,088
EGEN Asset Purchase Agreement [Member]
Lease description		In connection with the EGEN Asset Purchase Agreement in June 2014, the Company assumed the existing lease with another landlord for an 11,500 square foot premises located in Huntsville Alabama. In January 2018, the Company and the Huntsville landlord entered into a new 60-month lease which reduced the premises to 9,049 square feet with rent payments of approximately $18,100 per month.
Lease, rent payment		$ 18,100

Leases - Schedule of Lease Paym

Leases - Schedule of Lease Payments and Maturity of Our Operating Lease Liabilities (Details) - USD ($)	Sep. 30, 2019	Jan. 02, 2019
Leases [Abstract]
Remainder of 2019	$ 130,631
2020	525,809
2021	530,734
2022	535,579
2023	233,117
2024 and thereafter
Subtotal future lease payments	1,955,870
Less imputed interest	(334,155)
Total lease liabilities	$ 1,621,715	$ 1,900,000
Weighted average remaining life	3 years 8 months 12 days
Weighted average discount rate	9.98%

Technology Development and Li_2

Technology Development and Licensing Agreements (Details Narrative) - USD ($)	Jan. 18, 2013	Sep. 30, 2019
Revenue Ratably Through 2022 [Member]
Upfront payment		$ 5,000,000
Hisun [Member]
Non-refundable research and development fee	$ 5,000,000
Deferred revenue	$ 5,000,000
Deferred revenue amortization period	10 years