License Agreement with Yuhan Corporation (Details Narrative) - USD ($) |
12 Months Ended | |||
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Oct. 06, 2020 |
Aug. 19, 2020 |
Aug. 19, 2020 |
Dec. 31, 2020 |
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Proceeds from offering | $ 4,625,948 | |||
License Agreement [Member] | Yuhan Corporation [Member] | ||||
Number of common stock issued during period | 250,000 | 500,000 | ||
Milestone payments, description | In addition, we must pay Yuhan one-time sales milestone payments based on the achievement during a calendar year of one or more thresholds for annual sales for products made and pay royalties based on annual licensing sales. We are also required to split any milestone payments received with Yuhan based on any sub-license agreement we may enter into. | |||
Performance of milestone conditions, description | Specific diligence milestones that consist of: (i) preparing a first draft of the product development plan within 90 days; (ii) requesting an FDA pre-IND meeting for a product within 6 months; (iii) dosing a first patient in a Phase 2A clinical trial with a product within 24 months; and (iv) dosing a first patient with a product in a Phase 2B clinical trial, Phase 3 clinical trial or other pivotal clinical trial with a product within 48 months. | |||
License Agreement [Member] | Yuhan Affiliate [Member] | Underwritten Public Offering [Member] | October 2020 [Member] | ||||
Shares issued in connection with our 2020 offering | 750,000 | |||
Proceeds from offering | $ 3,000,000 |
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- Definition Milestone payments, description. No definition available.
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- Definition The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Number of new stock issued during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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