Lease

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

LEASE

NOTE 5 – LEASE 

In May 2019, the Company signed a sublease agreement with a related party for office space in La Jolla, California, which serves as the new headquarters of the Company. The lease has a 61-month term, which corresponds to the lease term of the lessor. The lessor is CTI Clinical Trial & Consulting Services ("CTI"). CTI is majority-owned by a member of the Company's Board of Directors. The lessor may extend its lease for an additional 5 years, and, if it does, the Company may also extend its sublease for 5 years. The Company did not include the option to extend in the calculation of the lease liabilities as such extension is not reasonably certain to occur. Variable lease costs for the Company's lease consists of operating expenses for the spaces. Below is a summary of the Company's right-of-use assets and liabilities as of December 31, 2019:

Right-of-use asset – related party	$	191,543
Operating lease, current liability – related party	$	8,288
Long-term operating lease liability – related party		160,164
Total lease liability	$	168,452
Weighted-average remaining lease term		4.5 years
Weighted-average discount rate		10.00	%

During the year ended December 31, 2019, the Company recognized $33,204 in operating lease expense, which is included in general and administrative expenses in the Company's consolidated statement of operations.