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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (17,239,777) $ (11,404,934)
Adjustments to reconcile net loss to net cash used in operating activities    
Compensation cost for stock options granted 7,102,118 1,053,496
Disposal of assets 5,806
Depreciation and amortization 52,789 44,197
Change in fair value of stock-based compensation liability 1,741,919 1,410,025
Changes in operating assets and liabilities:    
Prepaid expenses (352,511) (258,889)
Research and development tax rebate receivable (221,558) (159,821)
Other assets 4,812 74,301
Accounts payable (60,157) 18,427
Payroll liabilities (35,650) 150,203
Accrued expenses (99,186) 86,969
Other current liabilities (27,047) 24,405
Net cash used in operating activities (9,128,442) (8,961,621)
CASH FLOWS FROM INVESTING ACTIVITY    
Purchase of furniture and equipment (7,625) (110,906)
Net cash used in investing activities (7,625) (110,906)
CASH FLOWS FROM FINANCING ACTIVITY    
Proceeds from issuance of Series B convertible preferred stock and warrants, net of issuance costs 12,290,551
Proceeds from exercise of warrants 11,336,710
Net cash provided by financing activities 11,336,710 12,290,551
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 2,200,643 3,218,024
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE 10,490,493 7,272,469
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 12,691,136 10,490,493
SUPPLEMENTAL DISCLOSURES    
Cash and cash equivalents 12,581,136 10,380,493
Restricted cash 110,000 110,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 12,691,136 10,490,493
NONCASH INVESTING AND FINANCING ACTIVITIES    
Reclassification of stock-based liability awards to equity upon cancellation 3,151,944
Amortization of commitment shares $ 72,790