Quarterly report pursuant to Section 13 or 15(d)

Commitments (Details Narrative)

v3.19.3
Commitments (Details Narrative) - USD ($)
9 Months Ended
Apr. 16, 2019
Apr. 02, 2019
Sep. 12, 2016
Feb. 19, 2016
Sep. 30, 2019
Funds provide for support   $ 157,405      
Initial term   3 years      
Revenue recognition, milestone fee on achieving sales threshold         $ 100,000
License costs         $ 10,000
License agreement, description         The Amended and Restated Exclusive License Agreement provides for, among other things, the payment of (1) royalties on a tiered basis between low single digits and the mid-single digits of net sales of products using such licensed technology, (2) a one-time sales milestone fee of $100,000 when and if sales of products using the licensed technology reach the specified sales threshold and (3) an annual license fee of initially $10,000, increasing to $50,000 over the term of the license agreement.
Maximum [Member]          
License costs         $ 50,000
Series A Preferred Stock [Member]          
Royalty payment rights, description     The Company is required to pay to the holders of the Series A Preferred Stock, subject to certain vesting requirements, in the aggregate, a royalty (the "Royalty Payment Rights") equal to (i) 4.5% of Net Sales (as defined in the Series A Certificate of Designation), subject in all cases to a cap of $25 million per calendar year, and (ii) 7.5% of Licensing Proceeds (as defined in the Series A Certificate of Designation), subject in all cases to a cap of $10 million per calendar year.   The Series A Preferred Stock includes the right, as a group, to receive: (i) a royalty of 4.5% of the net sales of the Company's MAT2203 and MAT2501 product candidates, in each case from and after the date, respectively, such product candidate has received FDA or EMA approval, and (ii) a royalty of 7.5% of the proceeds, if any, received by the Company in connection with the licensing or other disposition by the Company of MAT2203 and/or MAT2501 ("Royalty Payment Rights").
Royalty payment rights expire description     The Royalty Payment Rights will expire when the patents covering the applicable product expire, which is currently expected to be in 2033.    
Series A Preferred Stock [Member] | Maximum [Member]          
Accrued royalties     $ 35,000,000    
Series A Preferred Stock [Member] | Maximum [Member] | 4.5% of Net Sales [Member]          
Accrued royalties     25,000,000    
Series A Preferred Stock [Member] | Maximum [Member] | 7.5% of Net Sales [Member]          
Accrued royalties     $ 10,000,000    
Cooperative Research and Development Agreements [Member]          
Funds provide for support       $ 200,000  
Initial term 3 years     3 years  
Other commitment $ 200,000