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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2019	Mar. 25, 2020	Jun. 30, 2019
Document and Entity Information
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Entity Registrant Name	EYENOVIA, INC.
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Trading Symbol	EYEN
Entity Common Stock, Shares Outstanding		19,776,019
Entity Central Index Key	0001682639
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Voluntary Filers	No
Entity Public Float			$ 31,000,000
Entity Well-known Seasoned Issuer	No

Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 14,152,601	$ 19,728,200
Prepaid expenses and other current assets	196,680	132,756
Total Current Assets	14,349,281	19,860,956
Property and equipment, net	230,538	36,738
Security deposit	117,800	117,800
Total Assets	14,697,619	20,015,494
Current Liabilities:
Accounts payable	1,541,358	1,509,524
Accrued compensation	916,873	912,104
Accrued expenses and other current liabilities	453,430	677,213
Total Current Liabilities	2,911,661	3,098,841
Deferred rent	45,351	41,584
Total Liabilities	2,957,012	3,140,425
Stockholders' Equity:
Preferred stock, $0.0001 par value, 6,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2019 and 2018	0	0
Common stock, $0.0001 par value, 90,000,000 shares authorized; 17,100,726 and 11,468,996 shares issued and outstanding as of December 31, 2019 and 2018, respectively	1,710	1,147
Additional paid-in capital	69,409,949	53,388,216
Accumulated deficit	(57,671,052)	(36,514,294)
Total Stockholders' Equity	11,740,607	16,875,069
Total Liabilities and Stockholders' Equity	$ 14,697,619	$ 20,015,494

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Balance Sheets
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	6,000,000	6,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	90,000,000	90,000,000
Common Stock, Shares, Issued	17,100,726	11,468,996
Common Stock, Shares, Outstanding	17,100,726	11,468,996

Statements of Operations - USD ($)	12 Months Ended
Statements of Operations - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Operating Expenses:
Research and development	$ 14,102,449	$ 11,119,096
General and administrative	7,206,095	6,137,347
Total Operating Expenses	21,308,544	17,256,443
Loss From Operations	(21,308,544)	(17,256,443)
Other Income:
Interest income	151,786	3,335
Net Loss	$ (21,156,758)	$ (17,253,108)
Net Loss Per Share
- Basic and Diluted	$ (1.47)	$ (1.82)
Weighted Average Number of Common Shares Outstanding
- Basic and Diluted	14,349,738	9,476,706

Statements of Changes in Stockholders' Equity - USD ($)

Series A Convertible Preferred Stock [Member]

Series A-2 Convertible Preferred Stock [Member]

Series B Convertible Preferred Stock [Member]

Common Stock [Member]

Additional Paid-in Capital [Member]

Accumulated Deficit [Member]

Total

Balance at Dec. 31, 2017

$ 293

$ 79

$ 92

$ 257

$ 24,351,138

$ (19,261,186)

$ 5,090,673

Balance (in shares) at Dec. 31, 2017

2,932,431

788,827

918,983

2,566,530

Issuance of common stock in initial public offering

^[1]

$ 0

$ 273

24,547,530

24,547,803

Issuance of common stock in initial public offering (in shares)

^[1]

2,730,000

Issuance of common stock in follow-on public offering (in shares)

^[2]

1,380,000

Issuance of common stock in follow-on public offering

^[2]

$ 0

$ 138

2,817,611

2,817,749

Exercise of warrants on a cashless basis

$ 0

$ 6

(6)

Exercise of warrants on a cashless basis (in shares)

61,385

Stock-based compensation

$ 0

1,615,470

Net loss

(17,253,108)

Exercise of stock options

$ 0

$ 3

56,479

56,482

Exercise of stock options (in shares)

28,965

Conversion of convertible preferred stock into common stock upon completion of initial public offering

$ (293)

$ (79)

$ (92)

$ 470

(6)

Conversion of convertible preferred stock into common stock upon completion of initial public offering (in shares)

(2,932,431)

(788,827)

(918,983)

4,702,116

Balance at Dec. 31, 2018

$ 0

$ 1,147

53,388,216

(36,514,294)

16,875,069

Balance (in shares) at Dec. 31, 2018

11,468,996

Issuance of common stock in public offering

^[3]

$ 0

$ 505

12,958,070

12,958,575

Issuance of common stock in public offering (in shares)

^[3]

5,046,763

Exercise of stock options on a cashless basis

$ 0

$ 24

(24)

Exercise of stock options on a cashless basis (in shares)

236,466

Stock-based compensation

$ 0

2,511,944

Net loss

(21,156,758)

Exercise of stock options

$ 348,501

551,743

551,777

Exercise of stock options (in shares)

Balance at Dec. 31, 2019

$ 0

$ 1,710

$ 69,409,949

$ (57,671,052)

$ 11,740,607

Balance (in shares) at Dec. 31, 2019

17,100,726

[1]	[1] Includes gross proceeds of $27,300,000, less total issuance costs of $2,752,197.
[2]	[2] Includes gross proceeds of $3,381,000, less total issuance costs of $563,251.
[3]	[3] Includes gross proceeds of $14,030,001, less total issuance costs of $1,071,931.

Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Common Stock One [Member]
Proceeds Of Stock Issued During Period Gross		$ 27,300,000
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs		2,752,197
Common Stock Two [Member]
Proceeds Of Stock Issued During Period Gross		3,381,000
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs		$ 563,251
Common Stock Three [Member]
Proceeds Of Stock Issued During Period Gross	$ 14,030,001
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	$ 1,071,931

Statements of Cash Flows - USD ($)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Cash Flows From Operating Activities:

Net loss

$ (21,156,758)

$ (17,253,108)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation

15,343

19,129

Stock-based compensation

2,511,944

1,615,470

Changes in operating assets and liabilities:

Prepaid expenses and other current assets

(63,924)

(95,607)

Accounts payable

31,834

1,263,140

Accrued compensation

4,769

912,104

Accrued expenses and other current liabilities

(266,283)

503,950

Security deposit

(117,800)

Deferred rent

3,767

41,584

Net Cash Used In Operating Activities

(18,919,308)

(13,111,138)

Cash Flows From Investing Activities:

Purchases of property and equipment

(166,643)

(27,907)

Net Cash Used In Investing Activities

(166,643)

(27,907)

Cash Flows From Financing Activities:

Proceeds from sale of common stock in initial public offering

^[1]

25,089,000

Payment of initial public offering issuance costs

(345,497)

Proceeds from sale of common stock in follow-on public offering

^[2]

3,084,330

Payment of follow-on public offering issuance costs

(266,581)

Proceeds from sale of common stock in public offering

^[3]

13,214,949

Payment of public offering issuance costs

(256,374)

Proceeds from exercise of stock options

551,777

56,482

Net Cash Provided By Financing Activities

13,510,352

27,617,734

Net (Decrease) Increase in Cash and Cash Equivalents

(5,575,599)

14,478,689

Cash and Cash Equivalents - Beginning of Year

19,728,200

5,249,511

Cash and Cash Equivalents - End of Year

14,152,601

19,728,200

Supplemental Disclosure of Non-Cash Investing and Financing Activities

Accrued purchases of leasehold improvements

42,500

Exercise of warrants on a cashless basis

Exercise of stock options on a cashless basis

Conversion of convertible preferred stock into common stock

470

Reversal of previously accrued initial public offering issuance costs

(133,000)

Reclassification to additional paid-in capital for initial public offering issuance costs that were previously paid

$ 0

$ (195,700)

[1]	[1] Includes gross proceeds of $27,300,000, less issuance costs of $2,211,000 deducted directly from the offering proceeds.
[2]	[2] Includes gross proceeds of $3,381,000, less issuance costs of $296,670 deducted directly from the offering proceeds.
[3]	[3] Includes gross proceeds of $14,030,001, less total issuance costs of $815,052 deducted directly from the offering proceeds.

Condensed Statements of Cash Flows (Parenthetical)	12 Months Ended
Condensed Statements of Cash Flows (Parenthetical)	Dec. 31, 2019 USD ($)
Common Stock One [Member]
Proceeds Of Stock Issued During Period Gross	$ 27,300,000
Payments of Debt Issuance Costs	2,211,000
Common Stock Two [Member]
Proceeds Of Stock Issued During Period Gross	3,381,000
Payments of Debt Issuance Costs	296,670
Common Stock Three [Member]
Proceeds Of Stock Issued During Period Gross	14,030,001
Payments of Debt Issuance Costs	$ 815,052

Business Organization and Nature of Operations	12 Months Ended
Business Organization and Nature of Operations	Dec. 31, 2019
Business Organization and Nature of Operations
Business Organization and Nature of Operations	Note 1 – Business Organization and Nature of Operations Eyenovia, Inc. (“Eyenovia” or the “Company”) was organized as a corporation under the laws of the State of Florida on March 12, 2014 under the name, PGP Holdings V, Inc. On May 5, 2014, PGP Holdings V, Inc. changed its name to Eyenovia, Inc. On October 6, 2014, Eyenovia, Inc. reincorporated in the State of Delaware by merging into Eyenovia, Inc., a Delaware corporation. Eyenovia. Inc. (“Eyenovia” or the “Company”) is a clinical stage ophthalmic biopharmaceutical company developing a pipeline of microdose therapeutics utilizing its patented piezo-print delivery technology, branded the OptejetTM. Eyenovia aims to achieve clinical microdosing of next-generation formulations of well-established ophthalmic pharmaceutical agents using its high-precision targeted ocular delivery system, which has the potential to replace conventional eye dropper delivery and improve safety, tolerability, patient compliance and topical delivery success for ophthalmic eye treatments. In the clinic, the Optejet has demonstrated the ability to horizontally deliver opthalmic medication with a success rate significantly higher than that of traditional eye drops (~ 90% vs. ~ 50%). Using its proprietary delivery technology, Eyenovia is developing the next generation of smart ophthalmic therapies which target new indications or new combinations where there are currently no comparable drug therapies approved by the U.S. Food and Drug Administration (the “FDA”). Eyenovia’s microdose therapeutics follow the FDA-designated pharmaceutical registration and regulatory process. Its products are classified by the FDA as drugs, and not medical devices or drug-device combination products.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Note 2 – Summary of Significant Accounting Policies

Liquidity and Going Concern

The Company has not yet generated revenues or achieved profitability and expects to continue to incur cash outflows from operations. The Company expects that its research and development and general and administrative expenses will continue to increase and, as a result, it will eventually need to generate significant product revenues to achieve profitability. These circumstances raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. Implementation of the Company’s plans and its ability to continue as a going concern will depend upon the Company’s ability to raise further capital, through the sale of additional equity or debt securities or otherwise, to support its future operations.

The Company’s operating needs include the planned costs to operate its business, including amounts required to fund working capital and capital expenditures. The Company’s future capital requirements and the adequacy of its available funds will depend on many factors, including the Company’s ability to successfully commercialize its products and services, competing technological and market developments, and the need to enter into collaborations with other companies or acquire other companies or technologies to enhance or complement its product and service offerings. If the Company is unable to secure additional capital, it may be required to curtail its research and development initiatives and take additional measures to reduce costs in order to conserve its cash.

On October 29, 2019, the Company announced that it is advancing its MicroLine program for the improvement in near vision in patients with presbyopia towards Phase III clinical studies. As a result of prioritizing MicroLine, in tandem with its Mircropine (progressive myopia) and MicroStat (mydriasis) programs, the Company deferred development activities for its MicroProst (glaucoma and ocular hypertension) and MicroTears (red eye and itch relief lubrication) programs. The Company believes the re-prioritization of its programs will yield overall cost savings of approximately $1.5 million to $1.9 million in 2020.

Use of Estimates

Preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and the amounts disclosed in the related notes to the financial statements. The Company bases its estimates and judgments on historical experience and on various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities reported in the Company’s balance sheets and the amounts of expenses reported for each of the periods presented are affected by estimates and assumptions, which are used for, but not limited to, fair value calculations for equity securities, establishment of valuation allowances for deferred tax assets, stock-based compensation, the recoverability and useful lives of long-lived assets and the recovery of deferred costs. Certain of the Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that actual results could differ from those estimates.

See Note 2 - Summary of Significant Accounting Policies — Stock-Based Compensation for additional discussion of the use of estimates in estimating the fair value of the Company’s common stock.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents in the financial statements.

The Company has cash deposits and U.S. treasury bills in a financial institutions which, at times, may be in excess of Federal Deposit Insurance Corporation (“FDIC”) insurance limits. The Company has not experienced losses in such accounts and periodically evaluates the creditworthiness of its financial institutions. As of December 31, 2019 and 2018, the Company had cash and cash equivalent balances in excess of FDIC insurance limits of $13,902,601 and $19,478,200, respectively.

Property and Equipment, Net

Property and equipment are stated at cost, net of accumulated depreciation, which is recorded commencing at the in-service date using the straight-line method at rates sufficient to charge the cost of depreciable assets to operations over their estimated useful lives, which range from 2 to 5 years. Leasehold improvements are amortized over the lesser of (a) the useful life of the asset; or (b) the remaining lease term. Maintenance and repairs are charged to operations as incurred. The Company capitalizes costs attributable to the betterment of property and equipment when such betterment extends the useful life of the assets.

Impairment of Long-lived Assets

The Company reviews for the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset might not be recoverable. An impairment would be recognized when estimated future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. The Company did not record any impairment losses during the years ended December 31, 2019 and 2018.

Deferred Offering Costs

Deferred offering costs, which primarily consist of direct, incremental professional fees incurred in connection with the Company’s IPO as well as other private equity offerings are capitalized as non-current assets on the balance sheet. Upon the closing of the offering, the deferred offering costs are offset against the offering proceeds. The Company had $0 in deferred offering costs at December 31, 2019 and 2018.

Preferred Stock

The Company applies the accounting standards for distinguishing liabilities from equity when determining the classification and measurement of its preferred stock. Preferred shares subject to mandatory redemption are classified as liability instruments and are measured at fair value. Conditionally redeemable preferred shares (including preferred shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, preferred shares are classified as stockholders’ equity.

Fair Value of Financial Instruments

The Company measures the fair value of financial assets and liabilities based on ASC 820 “Fair Value Measurements and Disclosures” (“ASC 820”), which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements.

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value:

Level 1 — quoted prices in active markets for identical assets or liabilities;

Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable; and

Level 3 — inputs that are unobservable (for example, cash flow modeling inputs based on assumptions).

The carrying amounts of the Company’s financial instruments, such as cash and cash equivalents, due from related party, accounts payable, accrued expenses and other current liabilities approximate fair values due to the short-term nature of these instruments.

Income Taxes

The Company is subject to Federal, New York State and City, and State of California income taxes and files tax returns in those jurisdictions.

The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of items that have been included or excluded in the consolidated financial statements or tax returns. Deferred tax assets and liabilities are determined on the basis of the difference between the tax basis of assets and liabilities and their respective financial reporting amounts (“temporary differences”) at enacted tax rates in effect for the years in which such temporary differences are expected to reverse.

The Company utilizes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.

The Company’s policy is to classify assessments, if any, for tax-related interest as interest expense and penalties as general and administrative expenses in the consolidated statements of operations.

Research and Development

Research and development expenses are charged to operations as incurred. The Company records prepaid expenses on its balance sheet for the payment of research and development expenses in advance of services being provided.

Stock-Based Compensation

The Company measures the cost of services received in exchange for an award of equity instruments based on the fair value of the award. The fair value of the award is measured on the grant date and the fair value amount is then recognized over the period during which services are required to be provided in exchange for the award, usually the vesting period. Upon the exercise of an option, the Company issues new shares of common stock out of the shares reserved for issuance under its equity plans.

Net Loss Per Common Share

Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities or other instruments to issue common stock were exercised or converted into common stock.

The following securities are excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive:


	December 31,
	2019	2018
Options	2,237,438	2,220,868
Restricted stock units	60,355	20,165
Total potentially dilutive shares	2,297,793	2,241,033

Subsequent Events

The Company has evaluated subsequent events through the date which the financial statements were issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the financial statements, except as disclosed.

Recently Issued Accounting Pronouncements

In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016‑02, “Leases (Topic 842)” (“ASU 2016‑02”). ASU 2016‑02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. This amendment will be effective for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. The FASB issued ASU No. 2019-01 “Leases (Topic 842) Codification Improvements” in March 2019 and ASU No. 2018-10 “Codification Improvements to Topic 842, Leases” and ASU No. 2018-11 “Leases (Topic 842) Targeted Improvements” in July 2018, and ASU No. 2018-20 “Leases (Topic 842) - Narrow Scope Improvements for Lessors” in December 2018. ASU 2019-01, ASU 2018-10 and ASU 2018-20 provide certain amendments that affect narrow aspects of the guidance issued in ASU 2016-02. ASU 2018-11 allows all entities adopting ASU 2016-02 to choose an additional (and optional) transition method of adoption, under which an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company is currently evaluating ASU 2016-02 and its impact on its financial position, results of operations, and cash flows.

In July 2017, the FASB issued ASU No. 2017-11, “Earnings Per Share (Topic 260) and Derivatives and Hedging (Topic 815)- Accounting for Certain Financial Instruments with Down Round Features” (“ASU 2017-11”). Equity-linked instruments, such as warrants and convertible instruments may contain down round features that result in the strike price being reduced on the basis of the pricing of future equity offerings. Under ASU 2017-11, a down round feature will no longer require a freestanding equity-linked instrument (or embedded conversion option) to be classified as a liability that is remeasured at fair value through the income statement (i.e. marked-to-market). However, other features of the equity-linked instrument (or embedded conversion option) must still be evaluated to determine whether liability or equity classification is appropriate. Equity classified instruments are not marked-to-market. For earnings per share ("EPS") reporting, the ASU requires companies to recognize the effect of the down round feature only when it is triggered by treating it as a dividend and as a reduction of income available to common shareholders in basic EPS. The amendments in this ASU are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company does not expect the adoption of ASU 2017-11 will have a material impact on its financial position, results of operations, and cash flows.

In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement” (“ASU 2018-13”). The amendments in ASU 2018-13 modify the disclosure requirements on fair value measurements based on the concepts in the FASB Concepts Statement, including the consideration of costs and benefits. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments are effective for fiscal years beginning after December 15, 2020. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating ASU 2018-13 and its impact on its financial position, results of operations and cash flows.

In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years beginning after December 15, 2021. The Company is currently evaluating ASU 2019-12 and its impact financial position, results of operations, and cash flows.

Recently Adopted Accounting Pronouncements

In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-15, “Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). The new standard will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. The new standard is effective for fiscal years beginning after December 15, 2018. The new standard requires adoption on a retrospective basis unless it is impracticable to apply, in which case a company would be required to apply the amendments prospectively as of the earliest date practicable. The Company adopted this standard on January 1, 2019 and it did not have a material impact on the Company’s financial position, results of operations or cash flows.

In June 2018, the FASB issued ASU No. 2018-07, “Compensation — Stock Compensation (Topic 718)” (“ASU 2018-07”). ASU 2018-07 is intended to reduce cost and complexity of financial reporting for non-employee share-based payments. Currently, the accounting requirements for non-employee and employee share-based payments are significantly different. ASU 2018-07 expands the scope of Topic 718, which currently only includes share-based payments to employees, to include share-based payments to non-employees for goods or services. Consequently, the accounting for share-based payments to non-employees and employees will be substantially aligned. This ASU supersedes Subtopic 505-50, “Equity — Equity-Based Payments to Nonemployees.” The amendments to ASU 2018 - 07 are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, but no earlier than a company’s adoption date of ASU No. 2014-09, (Topic 606), “Revenue from Contracts with Customers.” The Company adopted this standard on January 1, 2019 and it did not have a material impact on the Company’s financial position, results of operations or cash flow.

Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 31, 2019

Prepaid Expenses and Other Current Assets

Prepaid Expenses and Other Current Assets

Note 3 – Prepaid Expenses and Other Current Assets

As of December 31, 2019 and 2018, prepaid expenses and other current assets consisted of the following:


	December 31,
	2019		2018
Payroll tax receivable	$	95,233	$	—
Prepaid insurance expenses		33,923		39,465
Prepaid research and development expenses		17,978		—
Prepaid patent expenses		12,404		10,562
Prepaid conference expenses		10,600		7,000
Prepaid rent and security deposit		2,463		75,729
Other		24,079		—
Total prepaid expenses and other current assets	$	196,680	$	132,756

Property and Equipment, Net

12 Months Ended

Dec. 31, 2019

Property and Equipment, Net

Property and Equipment, Net

Note 4 – Property and Equipment, Net

As of December 31, 2019 and 2018, property and equipment consisted of the following:


	December 31,
	2019		2018
Equipment	$	229,529	$	62,886
Leasehold improvements		82,500		40,000
		312,029		102,886
Less: accumulated depreciation and amortization		(81,491)		(66,148)
Property and equipment, net	$	230,538	$	36,738

Depreciation and amortization expense was $15,343 and $19,129 for the years ended December 31, 2019 and 2018, respectively, of which $9,762 and $17,966 was included within research and development expenses and $5,581 and $1,163 was included in general and administrative expenses in the statements of operations for the years ended December 31, 2019 and 2018, respectively.

Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2019

Accrued Expenses and Other Current Liabilities

Accrued Expenses and Other Current Liabilities

Note 5 – Accrued Expenses and Other Current Liabilities

As of December 31, 2019 and 2018, accrued expenses and other current liabilities consisted of the following:


	December 31,
	2019		2018
Accrued research and development expenses	$	208,175	$	375,204
Accrued professional services		97,396		111,728
Credit card payable		56,979		9,466
Leasehold improvements		42,500		—
Accrued franchise tax		40,995		—
Accrued travel and entertainment expenses		7,385		—
Accrued legal expenses		—		168,650
Other		—		12,165
Total accrued expenses and other current liabilities	$	453,430	$	677,213

Accrued Compensation

12 Months Ended

Dec. 31, 2019

Accrued Compensation

Accrued Compensation

Note 6 – Accrued Compensation

As of December 31, 2019 and 2018, accrued compensation consisted of the following:


	December 31,
	2019		2018
Accrued bonus expenses	$	897,839	$	694,490
Accrued payroll expenses		19,034		217,614
Total accrued compensation	$	916,873	$	912,104

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Taxes

Income Taxes

Note 7 – Income Taxes

The provision for income taxes consists of the following expenses (benefits):


	For the Years Ended
	December 31,
	2019		2018
Deferred tax provision (benefit):
Federal	$	(4,999,920)	$	(3,516,722)
State and local		68,762		(47,238)
		(4,931,158)		(3,563,960)
Change in valuation allowance		4,931,158		3,563,960
Provision for income taxes	$	—	$	—

The provision for income taxes differs from the United States Federal statutory rate as follows:


	For the Years Ended
	December 31,
	2019		2018
Federal statutory rate	21.0	%	21.0	%
State tax rate, net of federal benefit	0.1	%	0.3	%
Permanent differences	(0.2)	%	(0.8)	%
Research & development tax credits	3.0	%	2.8	%
Prior period adjustments and other	(0.6)	%	(2.6)	%
Change in valuation allowance	(23.3)	%	(20.7)	%
Effective income tax rate	0.0	%	0.0	%

Deferred tax assets consist of the following:


	As of December 31,
	2019		2018
Net operating loss carryforwards	$	9,479,512	$	5,453,854
Stock-based compensation expense		943,370		616,207
Property and equipment		(14,030)		2,486
Intangibles		328,773		310,230
Research and development tax credits		1,584,753		1,008,443
Deferred tax assets		12,322,378		7,391,220
Valuation allowance		(12,322,378)		(7,391,220)
Deferred tax assets, net	$	—	$	—

As of December 31, 2019, the Company had approximately $45,000,000 of domestic Federal net operating loss carryforwards ("NOLs") that may be available to offset future Federal taxable income. Approximately $10,800,000 of those NOLs will expire during the years ranging from 2034 to 2037. The remaining NOLs of approximately $34,200,000 have no expiration dates. Internal Revenue Code Section 382 limits the utilization of approximately $35,000,000 of those NOLs to approximately $918,000 on an annual basis as a result of ownership changes that occurred through July 15, 2019. As of December 31, 2019, the Company had minimal state net operating loss carryforwards that may be available to offset future state taxable income as it conducted most of its operations in Nevada which does not tax corporate income.

The Company has assessed the likelihood that deferred tax assets will be realized in accordance with the provisions of ASC 740 Income Taxes ("ASC 740"). ASC 740 requires that such a review considers all available positive and negative evidence, including the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies. ASC 740 requires that a valuation allowance be established when it is “more likely than not” that all, or a portion of, deferred tax assets will not be realized. After the performance of such reviews as of December 31, 2019 and 2018, management believes that uncertainty exists with respect to future realization of its deferred tax assets and has, therefore, established a full valuation allowance as of those dates.

Management has evaluated and concluded that there were no material uncertain tax positions requiring recognition in the Company’s consolidated financial statements as of December 31, 2019 and 2018. The Company does not expect any significant changes in its unrecognized tax benefits within twelve months of the reporting date.

No tax audits were commenced or were in process during the years ended December 31, 2019 and 2018. No tax related interest or penalties were incurred during the years ended December 31, 2019 and 2018. The Company's State of California income tax returns beginning with the year ended December 31, 2015 remain subject to examination. The Company's Federal and New York State and City income tax returns beginning with the year ended December 31, 2016 remain subject to examination.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies

Commitments and Contingencies

Note 8 – Commitments and Contingencies

Operating Leases

On August 8, 2018, the Company entered into a lease agreement to lease approximately 3,800 square feet of office space in New York, NY. The monthly base rent ranges from $19,633 to $22,486 per month over the term of the lease for a total base rent lease commitment of approximately $1,236,000. The lease expires on September 30, 2023. The security deposit is approximately $118,000.

Future minimum payments under this operating lease agreement are as follows as:


For the Year Ending
December 31,	Minimum Lease Payments
2020	$	244,853
2021		251,586
2022		258,505
2023		198,157
	$	953,101

See Note 9 – Related Party Transactions – Lease Agreements for details of a lease agreement with a related party.

Employment Agreements

Effective February 15, 2019, the Company entered into at-will executive employment agreements with Tsontcho Ianchulev, its Chief Executive Officer and Chief Medical Officer, John Gandolfo, its Chief Financial Officer, Jennifer Clasby, its Vice President, Clinical Operations, Luke Clauson, its Vice President, Research and Development and Manufacturing ("VP of R&D"), and Michael Rowe, now its Vice President, Commercial.

Each of the employment agreements provides that if the executive's employment is terminated by the Company without "Cause" or the executive suffers an "Involuntarily Termination" (each as defined in the employment agreements), provided that the executive has signed a full release of all claims, the executive will be entitled to receive: (i) severance pay equal to three months of his or her then-current base salary (currently estimated at approximately $419,000 in the aggregate), and (ii) a reimbursement for health insurance benefits under COBRA for the executive and his or her spouse and dependents for a period of three months or until the executive becomes eligible for comparable insurance benefits from another employer, whichever is earlier.

Each of the employment agreements also provides that if, within 12 months following any "Corporate Transaction" (as defined in the employment agreements) of the Company, the executive's employment is terminated by the Company without Cause or the executive suffers an Involuntary Termination, provided that the executive has signed a full release of all claims, the executive will be entitled to receive, in lieu of what is described in the above paragraph: (i) severance pay equal to 12 months of his or her then-current base salary (currently estimated at approximately $1,677,000 in the aggregate), and (ii) a reimbursement for health insurance benefits under COBRA for the executive and his or her spouse and dependents for a period of 12 months or until the executive becomes eligible for comparable insurance benefits from another employer, whichever is earlier.

Litigations, Claims and Assessments

In the normal course of business, the Company may be involved in legal proceedings, claims and assessments arising in the ordinary course of business. The Company records legal costs associated with loss contingencies as incurred and accrues for all probable and estimable settlements.

The Company, its Chief Executive Officer and members of its Board of Directors were named as defendants in a legal proceeding filed in the United States District Court for the District of New Jersey on September 2, 2014 in connection with the Company’s Asset Purchase Agreement with Corinthian Ophthalmic, Inc. (“Corinthian”). A shareholder of Corinthian alleged a fraudulent transfer and sought to recover the purchase price of its Corinthian shares and other damages in aggregate amount of approximately $1.1 million. The court conducted a pretrial conference on January 22, 2018 and entered a final pretrial order on January 23, 2018. On October 29, 2018, the parties entered into a Settlement Agreement pursuant to which the defendants agreed to pay the Corinthian shareholder $600,000 in exchange for the release of all related claims. While the Company is indemnified by Corinthian and Corinthian’s applicable insurance policy provides coverage of $10 million, in an effort to avoid the additional legal costs and other resources required with a trial, the Company contributed $150,000 of the settlement amount (the remaining $450,000 was paid by Corinthian’s insurance carrier), which was paid on October 29, 2018.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2019
Related Party Transactions
Related Party Transactions	Note 9 – Related Party Transactions Consulting Agreements A company in which a member of the Company’s Board of Directors is part owner is a party to a consulting agreement with the Company dated July 6, 2017 that provides for the payment of $9,567 per month, and $250 per hour for any additional work, for advisory services performed by such director. The Company incurred expenses of $213,521 and $162,929 for the years ended December 31, 2019 and 2018, respectively, related to the agreement which was included within general and administrative expenses on the statements of operations. Lease Agreements The Company paid $4,000 per month as of January 2018, respectively, to a company controlled by a member of its Board of Directors for office space in New York, NY for its Chief Executive Officer (“CEO”). The Company left the space on August 31, 2018. The Company’s rent expense for this space amounted to $0 and $32,000 for the years ended December 31, 2019 and 2018, respectively, related to the office space, which was included within general and administrative expenses on the statements of operations. The Company’s Vice President of Research and Development and Manufacturing (“VP of R&D”) owns a company that entered into a lease agreement with the Company on September 15, 2016 to lease 953 square feet of space located in Reno, Nevada with respect to its research and development activities. The initial monthly base rent was $3,895 per month over the term of the lease and the security deposit was $3,895. On September 15, 2018, the Company amended the lease agreement to extend it until September 14, 2020 and increase the monthly base rent and security deposit to $4,012. The Company made $82,500 of leasehold improvements related to this lease which are included on the balance sheet. The Company’s rent expense for this space amounted to $48,144 and $47,270 for the years ended December 31, 2019 and 2018, respectively. Research and Development Activities The VP of R&D is the sole owner and President of a company that performs contract engineering services for the Company. During the years ended December 31, 2019 and 2018, the Company recognized research and development expense of $851,746 and $863,355, respectively, related to services provided by such vendor. The Company had a liability of $89,052 and $100,667 to the vendor as of December 31, 2019 and 2018, respectively. The Company recognized $186,160 and $182,275 of compensation expense related to the VP of R&D’s salary during the years ended December 31, 2019 and 2018, respectively. License Agreement During 2015, the Company entered into a license agreement with Senju Pharmaceuticals Co., Ltd. (“Senju”) whereby the Company agreed to grant to Senju an exclusive, royalty-bearing license for its microdose product candidates for Asia to sublicense, develop, make, have made, manufacture, use, import, market, sell, and otherwise distribute the microdose product candidates. In consideration for the license, Senju agreed to pay to Eyenovia five percent (5%) royalties for the term of the license agreement. The agreement will continue in full force and effect, on a country-by-country basis, until the latest to occur of: (i) the tenth (10th) anniversary of the first commercial sale of a microdose product candidate in Asia; or (ii) the expiration of the licensed patents. As of the date of this filing, there had been no commercial sales of a microdose product candidate in Asia, so no royalties had been earned. Senju is owned by the family of a former member of the Company’s Board of Directors and, together, they beneficially own greater than 5% of the Company’s common stock.

Stockholders' Equity

12 Months Ended

Dec. 31, 2019

Stockholders' Equity

Stockholders' Equity

Note 10 – Stockholders’ Equity

Reverse Stock Split

Effective January 8, 2018, pursuant to authority granted by the stockholders of the Company, the Company implemented a 1-for-3.75 reverse split of the Company’s issued and outstanding common stock and preferred stock (the “Reverse Split”). The number of authorized shares remained unchanged. All share and per share information has been retroactively adjusted to reflect the Reverse Split for all periods presented, unless otherwise indicated.

Authorized Capital

The Company is authorized to issue 90,000,000 shares of common stock, par value of $0.0001 per share, and 6,000,000 shares of preferred stock, par value of $0.0001 per share. The holders of the Company’s common stock are entitled to one vote per share. The Board of Directors is empowered, without stockholder approval, to issue preferred stock with dividend, liquidation, redemption, voting or other rights.

Equity Incentive Plans

On January 5, 2018, the Company’s Board of Directors and stockholders approved an amendment to the Company’s 2014 Equity Incentive Plan (“2014 Plan”) to increase the number of shares of common stock authorized under the 2014 Plan from 1,733,333 shares to 1,866,667 shares. As of December 31, 2019, there were 15,333 shares available for future issuance under the 2014 Plan.

On March 6, 2018, the Company’s Board of Directors adopted the 2018 Omnibus Stock Incentive Plan (“2018 Plan”), which stockholders approved on June 11, 2018. The 2018 Plan was subsequently amended by the Board on April 5, 2019 and approved by stockholders on June 11, 2019 (the “2018 Plan, as amended”). The 2018 Plan, as amended, provides for the issuance of incentive stock options, nonstatutory stock options, rights to purchase common stock, stock appreciation rights, restricted stock and restricted stock units (“RSUs”) to employees, directors and consultants of the Company and its affiliates. The 2018 Plan, as amended, terminates on June 11, 2028. The 2018 Plan, as amended, requires the exercise price of stock options to be greater than or equal to the fair value of the Company’s common stock on the date of grant. There are 1,250,000 shares of common stock authorized under the 2018 Plan, as amended. As of December 31, 2019, there were 106,074 shares available for future issuance under the 2018 Plan, as amended.

Public Offerings

On January 29, 2018, the Company consummated its IPO of 2,730,000 shares of its common stock at an offering price of $10.00 per share, generating $27.3 million and $24.5 million in gross and net proceeds, respectively. Underwriting discounts, commissions and other offering expenses were approximately $2.8 million, which were recorded as a reduction of additional paid-in capital.

On December 21, 2018, the Company consummated a follow-on public offering of 1,380,000 shares of its common stock at an offering price of $2.45 per share, generating $3.4 million and $2.8 million in gross and net proceeds, respectively. Underwriting discounts, commissions and other offering expenses were approximately $0.6 million, which were recorded as a reduction of additional paid-in capital.

On July 15, 2019, the Company closed an underwritten public offering of 4,388,490 shares of its common stock at a public offering price of $2.78 per share. The Company granted the underwriters a 30-day over-allotment option to purchase up to an additional 658,273 shares of the Company’s common stock at the same price, which was exercised in full on July 16, 2019. Including the over-allotment shares, the Company issued a total of 5,046,763 shares in the underwritten public offering, and received gross proceeds of approximately $14.0 million and net proceeds of approximately $13.0 million, after deducting underwriting discounts, commissions and other offering expenses, which were recorded as a reduction of additional paid-in capital.

Series A and Series A‑2 Convertible Preferred Stock

The Series A and Series A-2 Convertible Preferred Stock did not contain a redemption provision and an overall analysis of its features performed by the Company determined that it was more akin to equity and, therefore, it has been classified within stockholders’ equity on the balance sheet. While the embedded conversion option (“ECO”) was subject to an anti-dilution price adjustment, since the ECO was clearly and closely related to the equity host, it was not required to be bifurcated and accounted for as a derivative liability under ASC 815. The Company determined that the preferred stock did not contain a beneficial conversion feature because the conversion price exceeded the estimated fair value of the Company’s common stock as of the commitment date.

The Series A and Series A-2 Convertible Preferred Stock was convertible, at the option of the holder, at any time into shares of common stock on a one-for-one basis. In the event of any issuances by the Company for less than the in-force conversion price, the preferred stock conversion price would be reduced on a weighted average basis. Each share of preferred stock was automatically convertible into shares of common stock at the then effective conversion price: (i) immediately prior to the closing of a firm commitment underwritten initial public offering provided that (A) the aggregate offering price, net of underwriters’ discounts and expenses, was at least $2.00 per share of common stock and (B) the aggregate proceeds of such offering were not less than $20,000,000; or (ii) the date specified by written consent or agreement of the holders of at least 75% of the then outstanding shares of preferred stock. All of the Series A and Series A‑2 Convertible Preferred Stock converted immediately prior to the Company’s IPO. See Note 10 – Stockholders’ Equity – Conversion of Preferred Stock for additional details.

Series B Convertible Preferred Stock

The Series B Convertible Preferred Stock was convertible, at the option of the holder, at any time into shares of common stock on a one-for-one basis, subject to certain adjustments. In the event of any issuances by the Company for less than the in-force conversion price, the Series B Convertible Preferred Stock conversion price would be reduced on a weighted average basis. Each share of Series B Convertible Preferred Stock was automatically convertible into shares of common stock at the then effective conversion price: (i) immediately prior to the closing of a firm commitment underwritten initial public offering provided that (A) the aggregate offering price, net of underwriters’ discounts and expenses, is at least $2.00 per share of common stock and (B) the aggregate proceeds of such offering are not less than $20,000,000; or (ii) the date specified by written consent or agreement of the holders of at least 75% of the then outstanding shares of preferred stock. All of the Series B Convertible Preferred Stock converted immediately prior to the Company’s IPO. See Note 10 – Stockholders’ Equity – Conversion of Preferred Stock for additional details.

Conversion of Preferred Stock

Immediately prior to the closing of the IPO on January 29, 2018, all outstanding shares of preferred stock were automatically converted into an aggregate of 4,702,116 shares of the Company’s common stock.

Stock-Based Compensation Expense

The Company records stock-based compensation expense related to stock options and RSUs. For the years ended December 31, 2019 and 2018, the Company recorded expense of $2,511,944 ($1,459,055 of which was included within research and development expenses and $1,052,889 was included within general and administrative expenses on the statements of operations) and $1,615,470 ($818,239 of which was included within research and development expenses and $797,231 was included within general and administrative expenses on the statements of operations), respectively. As of December 31, 2019, there was $3,249,222 of unrecognized stock-based compensation expense which will be recognized over a weighted average period of 1.9 years.

Restricted Stock Units

On July 24, 2018, the Company granted an aggregate of 20,165 RSUs to its directors under the 2018 Plan. The grants vest on the earlier of (i) the one-year anniversary of the date of grant and (ii) the date of the 2019 annual stockholders meeting, subject to the grantee remaining on the Board until then. The RSUs had a grant date fair value of $125,000, which was recognized over the vesting period.

On August 16, 2019, the Company granted to members of its Board of Directors an aggregate of 40,190 restricted stock units (“RSUs”) under the 2018 Plan, as amended. The grants vest on the earlier of (i) the one-year anniversary of the date of grant and (ii) the date of the 2020 annual stockholders meeting, subject to the grantee remaining on the Board until then. The RSUs had a grant date fair value of $125,000, which will be recognized over the vesting period.

Stock Options

On April 16, 2018, the Compensation Committee of the Board of Directors approved the grant of ten-year stock options to purchase 175,668 shares of common stock to Company employees and consultants under the 2014 Plan. The stock options will vest in equal monthly increments over 36 months beginning on the one-month anniversary of the date of grant, subject to continued service to the Company, and have an exercise price of $8.72 per share, which was the closing stock price on the date of grant. The stock options had a grant date fair value of $1,412,700, which the Company expects to recognize over the vesting period.

During the year ended December 31, 2018, the Company granted ten-year stock options to purchase an aggregate of 395,999 shares of common stock to its employees, consultants and directors under the 2018 Plan. Of the 395,999 shares, (i) 313,674 vest over three years from the date of grant with one-third vesting on the one-year anniversary of the date of grant and the balance vesting monthly over the remaining 24 months, subject to continued service to the Company, (ii) 60,000 vest monthly over 36 months beginning on the one-month anniversary of the date of grant, subject to continued service to the Company, and (iii) 22,325 vest on the earlier of the one-year anniversary of the date of grant and the date of the 2019 annual stockholders meeting, subject to continued service to the Company. The stock options have exercise prices ranging from $5.10 per share to $6.30 per share, which represents the Company’s closing stock price on the date of grant. The stock options had a grant date value of $2,237,800, which the Company expects to recognize over the vesting period.

On January 2, 2019, stock options to purchase 180,000 and 133,686 shares of common stock with an exercise price of $1.24 and $1.95 per share, respectively, were exercised for aggregate proceeds of $483,888. In connection with the exercise of the stock options, the Company remitted a portion of an employee’s payroll taxes of $62,193 to the Internal Revenue Service. The Company was reimbursed in full by the employee.

On January 14, 2019, the Company granted ten-year stock options to purchase an aggregate of 11,000 shares of common stock to its employees under the 2018 Plan. The 11,000 shares vest over three years from the date of grant with one-third vesting on the one-year anniversary of the date of grant and the balance vesting monthly over the remaining 24 months, subject to continued service to the Company. The stock options have an exercise price of $2.74 per share, which represents the Company’s closing stock price on the date of grant. The stock options had a grant date value of $27,500, which the Company expects to recognize over the vesting period.

On February 6, 2019, stock options to purchase an aggregate of 320,001 shares of common stock with an exercise price of $1.24 per share were exercised on a cashless basis, which resulted in the issuance of an aggregate of 236,466 shares of common stock.

On February 13, 2019, the Board of Directors of the Company approved the acceleration and immediate vesting of 124,210 stock options originally granted to Dr. Ianchulev on July 24, 2018 in connection with his employment. In connection with the acceleration and immediate vesting, the Company recognized $609,322 of stock-based compensation expense during the year ended December 31, 2019 , which represents the remaining unamortized grant date fair value of the award.

On May 14, 2019, stock options to purchase 34,815 shares of common stock with an exercise price of $1.95 per share were exercised for aggregate proceeds of $67,889.

On August 16, 2019, the Company granted ten-year stock options to purchase an aggregate of 681,572 shares of common stock to its employees, consultants and directors under the 2018 Plan, as amended. Of the 681,572 shares, (i) 636,287 vest over three years from the date of grant with one-third vesting on the one-year anniversary of the date of grant and the balance vesting monthly over the remaining 24 months, subject to continued service to the Company and (ii) 45,285 vest on the earlier of the one-year anniversary of the date of grant and the date of the 2020 annual stockholders meeting, subject to continued service to the Company. The stock options have an exercise price of $3.11 per share, which represents the Company’s closing stock price on the date of grant. The stock options had a grant date value of $1,909,700, which the Company expects to recognize over the vesting period.

In applying the Black-Scholes option pricing model to stock options granted, the Company used the following approximate assumptions:


	For the Year Ended
	December 31,
	2019		2018
Expected term (years)	5.50 - 10.00		5.50 - 10.00
Risk free interest rate	1.42 - 2.53	%	2.69 - 3.24	%
Expected volatility	134 - 139	%	140 -141	%
Expected dividends	0.00	%	0.00	%

The Company has computed the fair value of stock options granted using the Black-Scholes option pricing model. Option forfeitures are accounted for at the time of occurrence. The expected term used for options issued is the estimated period of time that options granted are expected to be outstanding. The Company utilizes the “simplified” method to develop an estimate of the expected term of “plain vanilla” option grants. The Company does not currently have a sufficient trading history to support its historical volatility calculations. Accordingly, the Company is utilizing an expected volatility figure based on a review of the historical volatility of three comparable entities over a period of time equivalent to the expected life of the instrument being valued. The risk-free interest rate was determined from the implied yields from U.S. Treasury zero-coupon bonds with a remaining term consistent with the expected term of the instrument being valued.

The weighted average estimated grant date fair value of the stock options granted for the years ended December 31, 2019 and 2018 was approximately $3.10 and $6.39 per share, respectively.

A summary of the option activity during the year ended December 31, 2019 is presented below:


				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
	Number of	Exercise		Life	Intrinsic
	Options	Price		In Years	Value
Outstanding January 1, 2019	2,220,868	$	3.01
Granted	692,572		3.10
Exercised	(668,502)		1.42
Forfeited	(7,500)		4.73
Outstanding December 31, 2019	2,237,438	$	3.51	8.1	$	3,559,915

Exercisable December 31, 2019	1,183,637	$	3.33	7.3	$	2,222,680

The following table presents information related to stock options as of December 31, 2019:


Options Outstanding		Options Exercisable
		Weighted
	Outstanding	Average	Exercisable
Exercise	Number of	Remaining Life	Number of
Price	Options	In Years	Options
$ 1.24	260,000	5.2	260,000
$ 1.95	700,281	7.5	545,170
$ 2.74	6,000	—	—
$ 3.11	681,572	—	—
$ 4.00	2,000	8.9	723
$ 5.10	6,000	8.7	2,667
$ 5.19	16,500	8.7	6,875
$ 5.25	26,668	6.8	21,249
$ 6.20	311,499	8.6	224,438
$ 6.30	60,000	8.5	28,333
$ 8.72	166,918	8.3	94,182
	2,237,438	7.3	1,183,637

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2019
Employee Benefit Plans
Employee Benefit Plans	Note 11 – Employee Benefit Plans 401(k) Plan In April 2019, the Company adopted the Eyenovia 401(k) Plan (the “Plan”), which went into effect in May 2019. All Company employees are able to participate in the Plan, subject to eligibility requirements as outlined in the Plan documents. Under the terms of the Plan, eligible employees are able to defer a percentage of their pay every pay period up to annual limitations set by Congress and the Internal Revenue Service under Section 401(k) of the Internal Revenue Code. For 2019, the Company’s Board of Directors has approved a matching contribution equal to 100% of elective deferrals up to 4% of eligible earnings with the matching contribution subject to certain vesting requirements as outlined in the Plan documents. For the year ended December 31, 2019, the Company recorded expense of $71,285 associated with its matching contributions, respectively.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2019
Subsequent Events
Subsequent Events	Note 12 – Subsequent Events Stock Options On January 31, 2020, the Company granted ten-year stock options to purchase 25,000 shares of common stock to its employees under the 2018 Plan as amended. The shares vest over three years from the date of grant with one-third vesting on the one-year anniversary of the date of grant and the balance vesting monthly over the remaining 24 months. The stock options have an exercise price of $4.68 per share, which represents the Company’s closing stock price on the date of grant. Securities Purchase Agreement On March 24, 2020, the Company closed on a private placement of approximately $6.0 million of Units. Each Unit consisting of (i) one share of the Company’s common stock (ii) a one-year warrant to purchase 0.5 of a share of common stock (“Class A Warrant”), and (iii) a five-year warrant to purchase 0.75 of a share of common stock (“Class B Warrant”) (collectively, Class A Warrants and Class B Warrants, the “Warrants”). The Units were sold to the public at a price of $2.21425 per Unit and to certain directors and executive officers at a price of $2.42625 per Unit. The Company generated approximately $5.3 million of net proceeds in the offering after deducting placement agent fees and offering expenses. In the offering the Company issued an aggregate of 2,675,293 shares of common stock, Class A Warrants to purchase up to 1,337,659 shares of common stock, and Class B Warrants to purchase up to 2,006,495 shares of common stock. The exercise price of the Class A Warrants issued to the public is $2.058 per share and the exercise price of the Class A Warrants issued to the directors and officers is $2.27 per share. The exercise price of the Class B Warrants issued to the public is $2.4696 per share and the exercise price of the Class B Warrants issued to the directors and officers is $2.724 per share. In connection with the offering, on March 23, 2020, the Company also entered into a Registration Rights Agreement with the investors. Pursuant to the Registration Rights Agreement, the Company must file with the SEC, no later than 30 days following the date on which the Company files its Form 10-K for the year ended December 31, 2019 with the SEC, a registration statement on Form S-3 covering the shares of common Stock issued in the offering and the shares of common Stock underlying the Warrants.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Summary of Significant Accounting Policies

Liquidity and Going Concern

Use of Estimates

See Note 2 - Summary of Significant Accounting Policies — Stock-Based Compensation for additional discussion of the use of estimates in estimating the fair value of the Company’s common stock.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents in the financial statements.

Property and Equipment, Net

Impairment of Long-lived Assets

Deferred Offering Costs

Preferred Stock

Fair Value of Financial Instruments

Level 1 — quoted prices in active markets for identical assets or liabilities;

Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable; and

Level 3 — inputs that are unobservable (for example, cash flow modeling inputs based on assumptions).

Income Taxes

The Company is subject to Federal, New York State and City, and State of California income taxes and files tax returns in those jurisdictions.

The Company utilizes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.

Research and Development

Stock-Based Compensation

Net Loss Per Common Share

The following securities are excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive:


	December 31,
	2019	2018
Options	2,237,438	2,220,868
Restricted stock units	60,355	20,165
Total potentially dilutive shares	2,297,793	2,241,033

Subsequent Events

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Significant Accounting Policies

Schedule of anti-dilutive weighted average diluted common shares

The following securities are excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive:


	December 31,
	2019	2018
Options	2,237,438	2,220,868
Restricted stock units	60,355	20,165
Total potentially dilutive shares	2,297,793	2,241,033

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2019

Prepaid Expenses and Other Current Assets

Schedule of prepaid expenses and other current assets

As of December 31, 2019 and 2018, prepaid expenses and other current assets consisted of the following:


	December 31,
	2019		2018
Payroll tax receivable	$	95,233	$	—
Prepaid insurance expenses		33,923		39,465
Prepaid research and development expenses		17,978		—
Prepaid patent expenses		12,404		10,562
Prepaid conference expenses		10,600		7,000
Prepaid rent and security deposit		2,463		75,729
Other		24,079		—
Total prepaid expenses and other current assets	$	196,680	$	132,756

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2019

Property and Equipment, Net

Schedule of property and equipment

As of December 31, 2019 and 2018, property and equipment consisted of the following:


	December 31,
	2019		2018
Equipment	$	229,529	$	62,886
Leasehold improvements		82,500		40,000
		312,029		102,886
Less: accumulated depreciation and amortization		(81,491)		(66,148)
Property and equipment, net	$	230,538	$	36,738

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Accrued Expenses and Other Current Liabilities

Schedule of accrued expenses and other current liabilities

As of December 31, 2019 and 2018, accrued expenses and other current liabilities consisted of the following:


	December 31,
	2019		2018
Accrued research and development expenses	$	208,175	$	375,204
Accrued professional services		97,396		111,728
Credit card payable		56,979		9,466
Leasehold improvements		42,500		—
Accrued franchise tax		40,995		—
Accrued travel and entertainment expenses		7,385		—
Accrued legal expenses		—		168,650
Other		—		12,165
Total accrued expenses and other current liabilities	$	453,430	$	677,213

Accrued Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Accrued Compensation

Schedule of accrued compensation

As of December 31, 2019 and 2018, accrued compensation consisted of the following:


	December 31,
	2019		2018
Accrued bonus expenses	$	897,839	$	694,490
Accrued payroll expenses		19,034		217,614
Total accrued compensation	$	916,873	$	912,104

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of provision for income taxes

The provision for income taxes consists of the following expenses (benefits):


	For the Years Ended
	December 31,
	2019		2018
Deferred tax provision (benefit):
Federal	$	(4,999,920)	$	(3,516,722)
State and local		68,762		(47,238)
		(4,931,158)		(3,563,960)
Change in valuation allowance		4,931,158		3,563,960
Provision for income taxes	$	—	$	—

Schedule of effective income tax rate reconciliation

The provision for income taxes differs from the United States Federal statutory rate as follows:


	For the Years Ended
	December 31,
	2019		2018
Federal statutory rate	21.0	%	21.0	%
State tax rate, net of federal benefit	0.1	%	0.3	%
Permanent differences	(0.2)	%	(0.8)	%
Research & development tax credits	3.0	%	2.8	%
Prior period adjustments and other	(0.6)	%	(2.6)	%
Change in valuation allowance	(23.3)	%	(20.7)	%
Effective income tax rate	0.0	%	0.0	%

Schedule of deferred tax assets

Deferred tax assets consist of the following:


	As of December 31,
	2019		2018
Net operating loss carryforwards	$	9,479,512	$	5,453,854
Stock-based compensation expense		943,370		616,207
Property and equipment		(14,030)		2,486
Intangibles		328,773		310,230
Research and development tax credits		1,584,753		1,008,443
Deferred tax assets		12,322,378		7,391,220
Valuation allowance		(12,322,378)		(7,391,220)
Deferred tax assets, net	$	—	$	—

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies

Schedule of future minimum operating lease payments

Future minimum payments under this operating lease agreement are as follows as:


For the Year Ending
December 31,	Minimum Lease Payments
2020	$	244,853
2021		251,586
2022		258,505
2023		198,157
	$	953,101

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Stockholders' Equity

Schedule of Black-Scholes option pricing model to stock options granted

In applying the Black-Scholes option pricing model to stock options granted, the Company used the following approximate assumptions:


	For the Year Ended
	December 31,
	2019		2018
Expected term (years)	5.50 - 10.00		5.50 - 10.00
Risk free interest rate	1.42 - 2.53	%	2.69 - 3.24	%
Expected volatility	134 - 139	%	140 -141	%
Expected dividends	0.00	%	0.00	%

Schedule of the stock option activity

A summary of the option activity during the year ended December 31, 2019 is presented below:


				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
	Number of	Exercise		Life	Intrinsic
	Options	Price		In Years	Value
Outstanding January 1, 2019	2,220,868	$	3.01
Granted	692,572		3.10
Exercised	(668,502)		1.42
Forfeited	(7,500)		4.73
Outstanding December 31, 2019	2,237,438	$	3.51	8.1	$	3,559,915

Exercisable December 31, 2019	1,183,637	$	3.33	7.3	$	2,222,680

Schedule of information related to stock options

The following table presents information related to stock options as of December 31, 2019:


Options Outstanding		Options Exercisable
		Weighted
	Outstanding	Average	Exercisable
Exercise	Number of	Remaining Life	Number of
Price	Options	In Years	Options
$ 1.24	260,000	5.2	260,000
$ 1.95	700,281	7.5	545,170
$ 2.74	6,000	—	—
$ 3.11	681,572	—	—
$ 4.00	2,000	8.9	723
$ 5.10	6,000	8.7	2,667
$ 5.19	16,500	8.7	6,875
$ 5.25	26,668	6.8	21,249
$ 6.20	311,499	8.6	224,438
$ 6.30	60,000	8.5	28,333
$ 8.72	166,918	8.3	94,182
	2,237,438	7.3	1,183,637

Business Organization and Nature of Operations (Details)	12 Months Ended
	Dec. 31, 2019
Business Organization and Nature of Operations
Entity Incorporation, State or Country Code	FL
Entity Incorporation, Date of Incorporation	Mar. 12, 2014

Summary of Significant Accounting Policies - Anti-dilutive weighted average diluted common shares (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,297,793	2,241,033
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	60,355	20,165
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,237,438	2,220,868

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)		12 Months Ended
	Oct. 29, 2019	Dec. 31, 2019	Dec. 31, 2018
Overall cost savings due to re-prioritization of programs	$ 1,900,000
Cash, Uninsured Amount		$ 13,902,601	$ 19,478,200
Deferred Costs		$ 0	$ 0
Maximum [Member]
Overall cost savings due to re-prioritization of programs	$ 1,500,000
Property, Plant and Equipment, Useful Life		5 years
Minimum [Member]
Property, Plant and Equipment, Useful Life		2 years

Prepaid Expenses and Other Current Assets (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Prepaid Expenses and Other Current Assets
Payroll tax receivable	$ 95,233	$ 0
Prepaid insurance expenses	33,923	39,465
Prepaid research & development expenses	17,978	0
Prepaid patent expenses	12,404	10,562
Prepaid conference expenses	10,600	7,000
Prepaid rent and security deposit	2,463	75,729
Other	24,079	0
Total prepaid expenses and other current assets	$ 196,680	$ 132,756

Property and Equipment, Net - Property and Equipment (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment, Gross	$ 312,029	$ 102,886
Less: accumulated depreciation and amortization	(81,491)	(66,148)
Property, Plant and Equipment, Net, Total	230,538	36,738
Equipment [Member]
Property, Plant and Equipment, Gross	229,529	62,886
Leasehold Improvements [Member]
Property, Plant and Equipment, Gross	$ 82,500	$ 40,000

Property and Equipment, Net - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Depreciation, Depletion and Amortization	$ 15,343	$ 19,129
Research and Development Expense	14,102,449	11,119,096
General and Administrative Expense	7,206,095	6,137,347
Property, Plant and Equipment [Member]
Depreciation, Depletion and Amortization	15,343	19,129
Research and Development Expense	9,762	17,966
General and Administrative Expense	$ 5,581	$ 1,163

Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Accrued Expenses and Other Current Liabilities
Accrued research and development expenses	$ 208,175	$ 375,204
Accrued professional services	97,396	111,728
Credit card payable	56,979	9,466
Leasehold improvements	42,500	0
Accrued franchise tax	40,995	0
Accrued travel and entertainment expenses	7,385	0
Accrued legal expenses	0	168,650
Other	0	12,165
Total accrued expenses and other current liabilities	$ 453,430	$ 677,213

Accrued Compensation (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Accrued Compensation
Accrued bonus expenses	$ 897,839	$ 694,490
Accrued payroll expenses	19,034	217,614
Total accrued compensation	$ 916,873	$ 912,104

Income Taxes - provision for income taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Deferred tax provision (benefit):
Federal	$ (4,999,920)	$ (3,516,722)
State and local	68,762	(47,238)
Total	(4,931,158)	(3,563,960)
Change in valuation allowance	4,931,158	3,563,960
Provision for income taxes	$ 0	$ 0

Income Taxes - Effective income tax rate reconciliation (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Federal statutory rate	21.00%	21.00%
State tax rate, net of federal benefit	0.10%	0.30%
Permanent differences	(0.20%)	(0.80%)
Research & development tax credits	3.00%	2.80%
Prior period adjustments and other	(0.60%)	(2.60%)
Change in valuation allowance	(23.30%)	(20.70%)
Effective income tax rate	0.00%	0.00%

Income Taxes - Deferred tax assets (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred Tax Assets:
Net operating loss carryforwards	$ 9,479,512	$ 5,453,854
Stock-based compensation expense	943,370	616,207
Property and equipment	(14,030)	2,486
Intangibles	328,773	310,230
Research and development tax credits	1,584,753	1,008,443
Deferred tax assets	12,322,378	7,391,220
Valuation allowance	$ (12,322,378)	(7,391,220)
Deferred tax assets, net		$ 0

Income Taxes - Additional information (Details)	12 Months Ended
Income Taxes - Additional information (Details)	Dec. 31, 2019 USD ($)
Income Taxes
Operating Loss Carryforwards	$ 45,000,000
Net Operating Loss Limit for Utilization as per Internal Revenue Code	35,000,000
Net Operating Loss Annual Utilization Limit as per Internal Revenue Code	$ 918,000
Operating Loss Carry forwards Expiration Term	2034 to 2037
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration	$ 34,200,000
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	$ 10,800,000

Commitments and Contingencies - Future Minimum Payments under Operating Lease Agreement (Details)	Dec. 31, 2019 USD ($)
Commitments and Contingencies
2020	$ 244,853
2021	251,586
2022	258,505
2023	198,157
Minimum Lease Payments	$ 953,101

Commitments and Contingencies - Additional Information (Details)		1 Months Ended		12 Months Ended
	Aug. 08, 2018 USD ($) ft²	Oct. 29, 2018 USD ($)	Oct. 29, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Loss Contingency, Damages Sought, Value			$ 600,000	$ 1,100,000
Malpractice Loss Contingency, Insurance Recoveries			10,000,000
Net Rentable Area \| ft²	3,800
Operating Leases, Rent Expense, Net	$ 1,236,000
Security Deposit	$ 118,000			117,800	$ 117,800
Lease Expiration Date	Sep. 30, 2023
Loss Contingency Accrual, Payments		$ 150,000
Malpractice Loss Contingency, Claims Incurred in Period			$ 450,000
Severance Costs				419,000
Supplemental Unemployment Benefits, Salary Continuation				$ 1,677,000
Minimum [Member]
Operating Leases Monthly Rental Payments	$ 19,633
Maximum [Member]
Operating Leases Monthly Rental Payments	$ 22,486

Related Party Transactions (Details)		1 Months Ended		12 Months Ended
Related Party Transactions (Details)	Jul. 06, 2017 USD ($)	Jan. 31, 2018 USD ($)	Sep. 15, 2016 USD ($) ft²	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2015	Sep. 15, 2018 USD ($)	Aug. 08, 2018 USD ($) ft²
Net Rentable Area \| ft²								3,800
Operating Leases, Rent Expense				$ 0	$ 32,000
Security Deposit				117,800	117,800			$ 118,000
Payments for Rent		$ 4,000
License Agreement
Minority Interest Ownership Percentage In Company						5.00%
Vice President of Research and Development [Member]
Net Rentable Area \| ft²			953
Lease, Monthly Base Rent			$ 3,895
Operating Leases, Rent Expense				48,144	47,270
Security Deposit			$ 3,895				$ 4,012
Officers' Compensation				186,160	182,275
Leasehold Improvements, Gross				82,500
Senju Pharmaceutical Co [Member]
Royalty Percentage						5.00%
Research and Development Expense [Member] \| Vice President of Research and Development [Member]
Cost Of Services Engineering Services				851,746	863,355
Due to Related Parties				89,052	100,667
Cura Partners [Member] \| Consulting Agreement [Member]
Consulting agreement payment, Per month	$ 9,567
Consulting agreement payment, Per hour	$ 250
Cura Partners [Member] \| General and Administrative Expense [Member] \| Consulting Agreement [Member]
Related Party Transaction, Expenses from Transactions with Related Party				$ 213,521	$ 162,929

Stockholders' Equity (Details)	12 Months Ended
Stockholders' Equity (Details)	Dec. 31, 2019	Dec. 31, 2018
Expected dividends	0.00%	0.00%
Minimum [Member]
Expected term (years)	5 years 6 months	5 years 6 months
Risk free interest rate	1.42%	2.69%
Expected volatility	134.00%	140.00%
Maximum [Member]
Expected term (years)	10 years	10 years
Risk free interest rate	2.53%	3.24%
Expected volatility	139.00%	141.00%

Stockholders' Equity - Summary of option activity (Details) - USD ($)						1 Months Ended	12 Months Ended
	May 14, 2019	Feb. 06, 2019	Feb. 06, 2019	Jan. 14, 2019	Jan. 02, 2019	Apr. 16, 2018	Dec. 31, 2019	Dec. 31, 2018
Number of Options Granted \| Shares						175,668
Number of Options Exercised \| Shares	(34,815)	(320,001)
Weighted Average Exercise Price, Granted \| $ / Shares				$ 2.74		$ 8.72	$ 3.10	$ 6.39
Weighted Average Exercise Price, Exercised	$ 1.95		$ 1.24
Stock Options [Member]
Number of Options Outstanding \| Shares							2,220,868
Number of Options Granted \| Shares							692,572
Number of Options Exercised \| Shares					(180,000)		(668,502)
Number of Options Forfeited \| Shares							(7,500)
Number of Options Outstanding \| Shares							2,237,438	2,220,868
Number of Options Exercisable \| Shares							1,183,637
Weighted Average Exercise Price, Outstanding \| $ / Shares							$ 3.01
Weighted Average Exercise Price, Granted \| $ / Shares							3.10
Weighted Average Exercise Price, Exercised					$ 1.24		1.42
Weighted Average Exercise Price, Forfeited \| $ / Shares							4.73
Weighted Average Exercise Price, Outstanding \| $ / Shares							3.51	$ 3.01
Weighted Average Exercise Price, Exercisable \| $ / Shares							$ 3.33
Weighted Average Remaining Life In Years, Outstanding							8 years 1 month 6 days
Weighted Average Remaining Life In Years, Exercisable							7 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding \| $							$ 3,559,915
Aggregate Intrinsic Value, Exercisable							$ 2,222,680

Stockholders' Equity - Summary of information related to stock options (Details)	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Options Outstanding, Outstanding Number of Options	2,237,438
Options Exercisable, Weighted Average Remaining Life In Years	7 years 3 months 18 days
Options Exercisable, Exercisable Number of Options	1,183,637
Exercise Price 1.24 [Member]
Options Outstanding, Outstanding Exercise Price \| $ / shares	$ 1.24
Options Outstanding, Outstanding Number of Options	260,000
Options Exercisable, Weighted Average Remaining Life In Years	5 years 2 months 12 days
Options Exercisable, Exercisable Number of Options	260,000
Exercise Price 1.95 [Member]
Options Outstanding, Outstanding Exercise Price \| $ / shares	$ 1.95
Options Outstanding, Outstanding Number of Options	700,281
Options Exercisable, Weighted Average Remaining Life In Years	7 years 6 months
Options Exercisable, Exercisable Number of Options	545,170
Exercise Price 2.74 [Member]
Options Outstanding, Outstanding Exercise Price \| $ / shares	$ 2.74
Options Outstanding, Outstanding Number of Options	6,000
Options Exercisable, Exercisable Number of Options	0
Exercise Price 3.11 [Member]
Options Outstanding, Outstanding Exercise Price \| $ / shares	$ 3.11
Options Outstanding, Outstanding Number of Options	681,572
Options Exercisable, Exercisable Number of Options	0
Exercise Price 4.00 [Member]
Options Outstanding, Outstanding Exercise Price \| $ / shares	$ 4.00
Options Outstanding, Outstanding Number of Options	2,000
Options Exercisable, Weighted Average Remaining Life In Years	8 years 10 months 24 days
Options Exercisable, Exercisable Number of Options	723
Exercise Price 5.10 [Member]
Options Outstanding, Outstanding Exercise Price \| $ / shares	$ 5.10
Options Outstanding, Outstanding Number of Options	6,000
Options Exercisable, Weighted Average Remaining Life In Years	8 years 8 months 12 days
Options Exercisable, Exercisable Number of Options	2,667
Exercise Price 5.19 [Member]
Options Outstanding, Outstanding Exercise Price \| $ / shares	$ 5.19
Options Outstanding, Outstanding Number of Options	16,500
Options Exercisable, Weighted Average Remaining Life In Years	8 years 8 months 12 days
Options Exercisable, Exercisable Number of Options	6,875
Exercise Price 5.25 [Member]
Options Outstanding, Outstanding Exercise Price \| $ / shares	$ 5.25
Options Outstanding, Outstanding Number of Options	26,668
Options Exercisable, Weighted Average Remaining Life In Years	6 years 9 months 18 days
Options Exercisable, Exercisable Number of Options	21,249
Exercise Price 6.20 [Member]
Options Outstanding, Outstanding Exercise Price \| $ / shares	$ 6.20
Options Outstanding, Outstanding Number of Options	311,499
Options Exercisable, Weighted Average Remaining Life In Years	8 years 7 months 6 days
Options Exercisable, Exercisable Number of Options	224,438
Exercise Price 6.30 [Member]
Options Outstanding, Outstanding Exercise Price \| $ / shares	$ 6.30
Options Outstanding, Outstanding Number of Options	60,000
Options Exercisable, Weighted Average Remaining Life In Years	8 years 6 months
Options Exercisable, Exercisable Number of Options	28,333
Exercise Price 8.72 [Member]
Options Outstanding, Outstanding Exercise Price \| $ / shares	$ 8.72
Options Outstanding, Outstanding Number of Options	166,918
Options Exercisable, Weighted Average Remaining Life In Years	8 years 3 months 18 days
Options Exercisable, Exercisable Number of Options	94,182

Stockholders' Equity - Additional Information (Details) - USD ($)

1 Months Ended

12 Months Ended

Aug. 16, 2019

Jul. 15, 2019

May 14, 2019

Feb. 06, 2019

Jan. 14, 2019

Jan. 02, 2019

Jan. 08, 2018

Feb. 13, 2019

Dec. 21, 2018

Jul. 24, 2018

Apr. 16, 2018

Jan. 29, 2018

Dec. 31, 2019

Dec. 31, 2018

Mar. 06, 2018

Jan. 05, 2018

Stock Issued During Period, Shares, New Issues

5,046,763

236,466

2,730,000

Shares Issued, Price Per Share

$ 10.00

Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options

$ 3,249,222

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition

1 year 10 months 24 days

Net Proceeds From Issuance Of Common Stock

$ 13,000,000

$ 24,500,000

Payment of Financing and Stock Issuance Costs

$ 2,800,000

Convertible Preferred Stock, Shares Issued upon Conversion

4,702,116

Share-based Compensation Arrangement by Share-based Payment Award, Description

vest over three years from the date of grant with one-third vesting on the one-year anniversary of the date of grant and the balance vesting monthly over the remaining 24 months

Gross Proceeds Of Stock Value Issued During Period

$ 14,000,000

$ 27,300,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value

$ 1,412,700

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

3 years

36 months

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

175,668

Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 2.74

$ 8.72

$ 3.10

$ 6.39

Share-based Compensation

$ 2,511,944

$ 1,615,470

Sharebased Compensation Arrangement by Sharebased Payment Award Options Grants in Period Grant Date Fair Value

$ 27,500

2,237,800

Proceeds from Issuance of Common Stock

^[1]

13,214,949

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

175,668

Share-based Compensation Arrangement by Share-based Payment Award Accelerated Compensation Cost

609,322

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period

34,815

320,001

Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price

$ 1.95

$ 1.24

Stockholders' Equity, Reverse Stock Split

1-for-3.75

Remittance of employee's Payroll Taxes

$ 62,193

Proceeds from Stock Options Exercised

$ 67,889

$ 483,888

551,777

56,482

Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number

124,210

Research and Development Expense [Member]

Share-based Compensation

1,459,055

818,239

General and Administrative Expense [Member]

Share-based Compensation

$ 1,052,889

$ 797,231

Restricted Stock Units (RSUs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value

$ 125,000

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

40,190

20,165

Common Stock [Member]

Shares Issued, Price Per Share

$ 2.45

Payment of Financing and Stock Issuance Costs

$ 600,000

Proceeds Of Stock Issued During Period Gross

2,800,000

Proceeds from Issuance of Common Stock

$ 3,400,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period

133,686

28,965

Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price

$ 1.95

Stock Issued During Period Shares New Issues Two

1,380,000

^[2]

IPO [Member]

Stock Issued During Period, Shares, New Issues

4,388,490

Shares Issued, Price Per Share

$ 2.78

Over-Allotment Option [Member]

Stock Issued During Period, Shares, New Issues

658,273

Share-based Compensation Award, Tranche One [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

636,287

11,000

313,674

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

636,287

11,000

313,674

Share-based Compensation Award, Tranche Two [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

24 months

36 months

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

45,285

60,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

45,285

60,000

Share-based Compensation Award, Tranche Three [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

22,325

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

22,325

Maximum [Member]

Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 6.30

Minimum [Member]

Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$ 5.10

Employees Consultants and Directors Under the 2018 Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

681,572

11,000

395,999

Sharebased Compensation Arrangement by Sharebased Payment Award Options Grants in Period Grant Date Fair Value

$ 1,909,700

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

681,572

11,000

395,999

Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price

$ 3.11

Omnibus Stock Incentive Plan 2018 [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized

1,250,000

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

106,074

Equity Incentive Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

15,333

Equity Incentive Plan [Member] | Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized

1,866,667

Equity Incentive Plan [Member] | Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized

1,733,333

Series A Convertible Preferred Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period

Stock Issued During Period Shares New Issues Two

^[2]

Series B Convertible Preferred Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period

Convertible Preferred Stock, Terms of Conversion

The Series B Convertible Preferred did not contain a redemption provision and an overall analysis of its features performed by the Company determined that it was more akin to equity and therefore, has been classified within stockholders' equity on the balance sheet. While the embedded conversion option ("ECO") was subject to an anti-dilution price adjustment, since the ECO was clearly and closely related to the equity host, it was not required to be bifurcated and accounted for as a derivative liability under ASC 815. The Company determined that the Series B Convertible Preferred did not contain a beneficial conversion feature, since the conversion price exceeded the estimated fair value of the Company's common stock as of the commitment date.The Series B Convertible Preferred Stock was convertible, at the option of the holder, at any time into shares of common stock on a one-for-one basis, subject to certain adjustments. In the event of any issuances by the Company for less than the in-force conversion price, the Series B Convertible Preferred Stock conversion price would be reduced on a weighted average basis. Each share of Series B Convertible Preferred Stock was automatically convertible into shares of common stock at the then effective conversion price: (i) immediately prior to the closing of a firm commitment underwritten initial public offering provided that (A) the aggregate offering price, net of underwriters' discounts and expenses, is at least $2.00 per share of common stock and (B) the aggregate proceeds of such offering are not less than $20,000,000; or (ii) the date specified by written consent or agreement of the holders of at least 75% of the then outstanding shares of preferred stock.

Stock Issued During Period Shares New Issues Two

^[2]

Series And Series A2 Convertible Preferred Stock [Member]

Convertible Preferred Stock, Terms of Conversion

The Series A and Series A-2 Convertible Preferred Stock was convertible, at the option of the holder, at any time into shares of common stock on a one-for-one basis. In the event of any issuances by the Company for less than the in-force conversion price, the preferred stock conversion price would be reduced on a weighted average basis. Each share of preferred stock was automatically convertible into shares of common stock at the then effective conversion price: (i) immediately prior to the closing of a firm commitment underwritten initial public offering provided that (A) the aggregate offering price, net of underwriters' discounts and expenses, was at least $2.00 per share of common stock and (B) the aggregate proceeds of such offering were not less than $20,000,000; or (ii) the date specified by written consent or agreement of the holders of at least 75% of the then outstanding shares of preferred stock.

[1]	[3] Includes gross proceeds of $14,030,001, less total issuance costs of $815,052 deducted directly from the offering proceeds.
[2]	[2] Includes gross proceeds of $3,381,000, less total issuance costs of $563,251.

Employee Benefit Plans (Details) - USD ($)	1 Months Ended	12 Months Ended
Employee Benefit Plans (Details) - USD ($)	Apr. 30, 2019	Dec. 31, 2019
Employee Benefit Plans
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	4.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount		$ 71,285

Subsequent Events (Details) $ / shares in Units, $ in Millions					1 Months Ended	12 Months Ended
	Mar. 24, 2020 USD ($) item $ / shares shares	Jan. 31, 2020 $ / shares shares	Aug. 16, 2019 shares	Jan. 14, 2019 $ / shares shares	Apr. 16, 2018 $ / shares shares	Dec. 31, 2019 $ / shares shares	Dec. 31, 2018 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					175,668
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period				3 years	36 months
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price \| $ / shares				$ 2.74	$ 8.72	$ 3.10	$ 6.39
Common Stock, Shares, Issued						17,100,726	11,468,996
Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			636,287	11,000			313,674
Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			45,285				60,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			24 months	24 months			36 months
Employees Consultants and Directors Under the 2018 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			681,572	11,000			395,999
Subsequent Event [Member]
Securities Purchased under Agreements to Resell, Liability \| $	$ 6.0
Proceeds from Debt, Net of Issuance Costs \| $	$ 5.3
Common Stock, Shares, Issued	2,675,293
Subsequent Event [Member] \| IPO [Member]
Number of Units Sold \| $ / shares	$ 2.21425
Subsequent Event [Member] \| Directors and Executive Officers [Member]
Number of Units Sold \| $ / shares	$ 2.42625
Subsequent Event [Member] \| Common Stock [Member]
Number of Share \| item	1
Subsequent Event [Member] \| Class A Warrant [Member]
Purchase Term of Warrant	1 year
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	0.5
Maximum Number of Warrants To Purchase Common Stock	1,337,659
Subsequent Event [Member] \| Class A Warrant [Member] \| IPO [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares	$ 2.058
Subsequent Event [Member] \| Class A Warrant [Member] \| Directors and Executive Officers [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares	$ 2.27
Subsequent Event [Member] \| Class B Warrant [Member]
Purchase Term of Warrant	5 years
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	0.75
Maximum Number of Warrants To Purchase Common Stock	2,006,495
Subsequent Event [Member] \| Class B Warrant [Member] \| IPO [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares	$ 2.4696
Subsequent Event [Member] \| Class B Warrant [Member] \| Directors and Executive Officers [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares	$ 2.724
Subsequent Event [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		0.33%
Subsequent Event [Member] \| Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		24 months
Subsequent Event [Member] \| Employees Consultants and Directors Under the 2018 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		25,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price \| $ / shares		$ 4.68