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Reverse Merger (Tables)
 12 Months Ended
Dec. 31, 2020
Reverse Merger [Abstract]  
Calculation and Allocation of Final Purchase Price
Pursuant to the Agreement and Plan of Merger and Reorganization, as amended, Edge issued to Private PDS’s stockholders a number of shares of Edge’s common stock representing approximately 70% of the outstanding shares of our common stock. The purchase price, which represents the consideration transferred to Edge’s stockholders in the Merger is calculated based on the number of shares of our common stock that Edge’s stockholders owned as of the closing of the Merger on March 15, 2019, which consists of the following:

Number of our shares of common stock to be owned by Edge security holders (1)
  
1,600,166
 
Multiplied by the price per share of Edge’s common stock as of March 15, 2019
 
$
9.87
 
Purchase price (in thousands)
 
$
15,794
 

(1)
The amount includes 1,576,916 shares of Edge’s common stock outstanding as of March 15, 2019 plus 23,250 stock options of Edge that were in the money and vested immediately upon closing of the Merger. At closing, 753 of in-the-money options and 235 fractional shares paid out in cash to shareholders were not issued as common stock, resulting in 1,599,178 common shares issued.
 
The final allocation of the purchase price to the net assets of Edge, based on the fair values as of March 15, 2019, is as follows:

Cash and cash equivalents
 
$
29,106,513
 
Prepaid expense and other assets
  
1,585,482
 
Right to use asset
  
1,384,810
 
Intangible assets-IPR&D
  
2,974,000
 
Total identifiable assets acquired
  
35,050,805
 
Accounts payable, accrued expenses, other liabilities
  
(4,595,934
)
Lease liability
  
(945,152
)
Deferred tax liability
  
(381,513
)
Total liabilities assumed
  
(5,922,599
)
Net identifiable assets acquired
  
29,128,206
 
Bargain purchase gain
  
(13,334,568
)
Purchase price
 
$
15,793,638
 
Pro Forma Consolidated Results
The following pro forma consolidated results of net loss for the year ended December 31, 2019:          

Pro forma operating expenses
 
$
(31,152,190
)
Pro forma net loss
  
(31,134,293
)
Pro forma basic and diluted net loss per share
 
$
(6.40
)