Quarterly report pursuant to Section 13 or 15(d)

DEVELOPMENT AWARDS AND DEFERRED REVENUE (Details Narrative)

v3.20.2
DEVELOPMENT AWARDS AND DEFERRED REVENUE (Details Narrative) - USD ($)
 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Jan. 26, 2018
Jul. 31, 2020
May 31, 2019
Mar. 31, 2019
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Dec. 31, 2018
Jun. 30, 2019
Entity Listings [Line Items]                      
Revenue recognized             $ (3,279,026)        
Revenue         $ 1,230,621 $ 2,589,783 3,279,026 $ 33,570,048      
Additional paid in capital, fair value of warrant issued         $ 472,409   $ 472,409        
CFF Warrant [Member]                      
Entity Listings [Line Items]                      
Warrant exercisable price per share         $ 13.20   $ 13.20        
Cystic Fibrosis Foundation [Member]                      
Entity Listings [Line Items]                      
Payments for royalty     $ 2,700,000                
Collaboration and License Agreement [Member] | Kaken Pharmaceutical Co., Ltd. [Member]                      
Entity Listings [Line Items]                      
Upfront payment, received from related party       $ 27,000,000              
Consideration receivable on milestone payments       $ 173,000,000              
Royalty term description       The “Royalty Term” means the period beginning on the date of the first commercial sale of the Licensed Product in Japan and ends on the latest of (i) the expiration of the last valid claim of the royalty patents covering such Licensed Product in Japan, (ii) the expiration of regulatory exclusivity for such Licensed Product for such Initial Indication in Japan, or (iii) ten (10) years after the first commercial sale of such Licensed Product for such Initial Indication in Japan. The Agreement may be terminated by either party for material breach, upon a party’s insolvency or bankruptcy or upon a challenge by one party of any patents of the other party, and Kaken may terminate in specified situations, including for a safety concern or clinical failure, or at its convenience following the second anniversary of the first commercial sale of a Licensed Product in either of the Initial Indications in the Territory, with 180 days’ notice.              
Revenue from related parties, recorded as deferred revenue       $ 27,000,000              
Revenue recognized         $ 27,000,000            
Royalty payable       $ 27,000,000             $ 27,000,000
Cystic Fibrosis Program Related Investment Agreement [Member] | Phase 2b Clinical Trial [Member]                      
Entity Listings [Line Items]                      
Proceeds from investments on achieving milestones               22,500,000      
Remainder payable upon the achievement of the last remaining milestone         2,500,000   $ 2,500,000        
Cystic Fibrosis Program Related Investment Agreement [Member] | Maximum [Member]                      
Entity Listings [Line Items]                      
Development award received $ 25,000,000                    
Collaboration Agreement [Member] | Cystic Fibrosis Foundation [Member]                      
Entity Listings [Line Items]                      
Royalty payment percentage 10.00%                    
Investment Agreement [Member] | 2018 CFF Award [Member]                      
Entity Listings [Line Items]                      
Revenue         $ 1,230,621 $ 2,589,783 $ 3,279,026 $ 6,570,048      
Investment Agreement [Member] | CFF Warrant [Member]                      
Entity Listings [Line Items]                      
Warrant to purchase of common stock         1,000,000   1,000,000        
Warrant exercisable price per share         $ 12.70   $ 12.70        
Warrants expiration term         Jan. 26, 2025   Jan. 26, 2025        
Investment Agreement [Member] | CFF Warrant [Member] | Immediately Exercisable Warrants [Member]                      
Entity Listings [Line Items]                      
Warrant to purchase of common stock         500,000   500,000        
Investment Agreement [Member] | CFF Warrant [Member] | Warrants Exercisable On Completion Of Final Milestone [Member]                      
Entity Listings [Line Items]                      
Warrant to purchase of common stock         500,000   500,000        
Investment Agreement [Member]                      
Entity Listings [Line Items]                      
Revenue   $ 22,500,000         $ 5,000,000   $ 5,000,000 $ 12,500,000  
Investment Agreement [Member] | CFF Warrant [Member]                      
Entity Listings [Line Items]                      
Warrant exercisable price per share         $ 13.20   $ 13.20        
Investment Agreement [Member] | Cystic Fibrosis Foundation Warrants [Member]                      
Entity Listings [Line Items]                      
Revenue             $ 25,000,000        
Additional paid in capital, fair value of warrant issued             6,215,225        
Revenue to be recognized         $ 18,784,775   $ 18,784,775        
Research and development period             2 years 9 months