Annual report pursuant to Section 13 and 15(d)

License Agreement with Elion Oncology, Inc. (Details Narrative)

v3.21.1
License Agreement with Elion Oncology, Inc. (Details Narrative) - License Agreement [Member] - Elion Oncology, Inc. [Member] - USD ($)
Oct. 06, 2020
Aug. 23, 2020
Common stock, lock-up description   Such shares are subject to a lock-up, with 50% of such shares released from such lock up after six months and the remaining 25% tranches to be released following 9 months and 12 months, respectively.
Payment for license grant $ 100,000  
Number of common stock issued during period 825,000  
Milestone payment description As part of the Elion License Agreement, we have agreed to issue to Elion 100,000 shares of our common stock on each of the first and second anniversary dates of the Elion License Agreement.  
Price per share $ 4.00  
Milestone payments, description   As additional consideration, we will pay Elion development and regulatory milestone payments (a portion of which are payable in shares of our common stock and a portion of which are payable in cash) upon the achievement of certain milestones, which include FDA or other regulatory approval and dosing a patient. In addition, we must pay Elion 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 Elion based on any sub-license agreement we may enter into.
Performance of milestone conditions, description   Specific diligence milestones that consist of: (i) dosing a first patient in a Phase 1B clinical trial with a product within 12 months; and (ii) dosing a first patient with a product in a Phase 2 or 3 clinical trial within 48 months.