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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 03, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	Marker Therapeutics, Inc.
Entity Central Index Key	0001094038
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	MRKR
Entity Common Stock, Shares Outstanding		45,484,483
Entity Emerging Growth Company	false
Entity Small Business	true

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 57,706,579	$ 61,746,748
Prepaid expenses and deposits	216,433	141,717
Interest receivable	112,200	108,177
Total current assets	58,035,212	61,996,642
Non-current assets:
Property, plant and equipment, net	360,280	147,668
Right-of-use assets, net	592,422	0
Total non-current assets	952,702	147,668
TOTAL ASSETS	58,987,914	62,144,310
Current liabilities:
Accounts payable and accrued liabilities	2,694,019	2,754,572
Lease liability	189,791	0
Warrant liability	58,000	49,000
Total current liabilities	2,941,810	2,803,572
Non-current liabilities:
Lease liability, net of current portion	435,192	0
Total non-current liabilities	435,192	0
Total liabilities	3,377,002	2,803,572
COMMITMENTS AND CONTINGENCIES
Stockholders' equity:
Common stock, $0.001 par value, 150 million shares authorized, 45.5 million and 45.4 million shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	45,484	45,440
Additional paid-in capital	366,989,803	365,400,748
Accumulated deficit	(311,424,375)	(306,105,450)
Total stockholders' equity	55,610,912	59,340,738
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	58,987,914	62,144,310
Series A Preferred Stock [Member]
Stockholders' equity:
Preferred Stock, Value	0	0
Series B Preferred Stock [Member]
Stockholders' equity:
Preferred Stock, Value	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock shares authorized/designated	5,000,000	5,000,000
Common stock shares par value	$ 0.001	$ 0.001
Common stock shares authorized	150,000,000	150,000,000
Common stock shares issued	45,500,000	45,400,000
Common stock shares outstanding	45,500,000	45,400,000
Series A Preferred Stock [Member]
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock shares authorized/designated	1,250,000	1,250,000
Preferred stock issued	0	0
Preferred stock outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock shares authorized/designated	1,500,000	1,500,000
Preferred stock issued	0	0
Preferred stock outstanding	0	0

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating expenses:
Research and development	$ 2,832,695	$ 1,599,550
General and administrative	2,805,775	1,597,936
Total operating expenses	5,638,470	3,197,486
Loss from operations	(5,638,470)	(3,197,486)
Other income (expense):
Change in fair value of warrant liabilities	(9,000)	1,000
Interest income	328,545	0
Net loss	$ (5,318,925)	$ (3,196,486)
Net loss per share, Basic and Diluted	$ (0.12)	$ (0.30)
Weighted average number of common shares outstanding	45,465,754	10,622,420

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid- in Capital [Member]	Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2017	$ 3,658,127	$ 10,616	$ 161,067,538	$ (157,420,027)
Beginning Balance, Shares at Dec. 31, 2017		10,615,724
Stock options exercised for cash	18,125	$ 10	18,115	0
Stock options exercised for cash, Shares		10,416
Stock-based compensation	136,193	$ 10	136,183	0
Stock-based compensation, Shares		10,042
Net loss	(3,196,486)	$ 0	0	(3,196,486)
Ending Balance at Mar. 31, 2018	615,959	$ 10,636	161,221,836	(160,616,513)
Ending Balance, Shares at Mar. 31, 2018		10,636,182
Beginning Balance at Dec. 31, 2018	59,340,738	$ 45,440	365,400,748	(306,105,450)
Beginning Balance, Shares at Dec. 31, 2018		45,440,704
Stock options exercised for cash	57,744	$ 12	57,732	0
Stock options exercised for cash, Shares		11,980
Warrants exercised for cash	5,379	$ 2	5,377	0
Warrants exercised for cash, Shares		1,799
Stock-based compensation	1,525,976	$ 30	1,525,946	0
Stock-based compensation, Shares		30,000
Net loss	(5,318,925)	$ 0	0	(5,318,925)
Ending Balance at Mar. 31, 2019	$ 55,610,912	$ 45,484	$ 366,989,803	$ (311,424,375)
Ending Balance, Shares at Mar. 31, 2019		45,484,483

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash Flows from Operating Activities:
Net loss	$ (5,318,925)	$ (3,196,486)
Reconciliation of net loss to net cash used in operating activities:
Depreciation and amortization	10,514	0
Changes in fair value of warrant liabilities	9,000	(1,000)
Stock-based compensation	1,525,976	136,193
Amortization on right-of-use assets	44,211	0
Changes in operating assets and liabilities:
Prepaid expenses and deposits	(74,716)	(77,878)
Interest receivable	(4,023)	0
Accounts payable and accrued expenses	(27,628)	792,849
Lease liability	(44,575)	0
Net cash used in operating activities	(3,880,166)	(2,346,322)
Cash Flows from Investing Activities:
Purchase of property and equipment	(223,126)	0
Net cash used in investing activities	(223,126)	0
Cash Flows from Financing Activities:
Proceeds from exercise of stock options	57,744	18,125
Proceeds from exercise of warrants	5,379	0
Net cash provided by financing activities	63,123	18,125
Net decrease in cash	(4,040,169)	(2,328,197)
Cash and cash equivalents at beginning of period	61,746,748	5,129,289
Cash and cash equivalents at end of period	$ 57,706,579	$ 2,801,092

NATURE OF OPERATIONS

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NATURE OF OPERATIONS

Note 1: Nature of Operations

Marker Therapeutics, Inc., a Delaware corporation (the “Company” or “we”), is a clinical-stage immuno-oncology company specializing in the development and commercialization of innovative cell-based immunotherapies for the treatment of hematological malignancies and solid tumor indications, and novel peptide-based vaccines for the treatment of breast and ovarian cancers. The Company’s cell-based immunotherapy technology is based on the selective expansion of non-engineered, tumor-specific T cells that recognize tumor associated antigens (i.e. tumor targets) and kill tumor cells expressing those targets. Once infused into patients, this population of T cells recognizes multiple tumor targets to produce broad spectrum anti-tumor activity.

BASIS OF PRESENTATION

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION

NOTE 2: Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company prepares its annual audited consolidated financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of such interim results.

The results for the condensed consolidated statement of operations are not necessarily indicative of results to be expected for the year ending December 31, 2019 or for any future interim period. The condensed consolidated balance sheet at March 31, 2019 has been derived from unaudited financial statements; however, it does not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2018 and notes thereto included in the Company’s annual report on Form 10-K filed on March 15, 2019.

LIQUIDITY AND FINANCIAL CONDITION

3 Months Ended

Mar. 31, 2019

Text Block [Abstract]

LIQUIDITY AND FINANCIAL CONDITION

NOTE 3: LIQUIDITY AND FINANCIAL CONDITION

As of March 31, 2019, the Company had cash and cash equivalents of approximately $57.7 million. The Company’s activities since inception have consisted principally of acquiring product and technology rights, raising capital, and performing research and development. Successful completion of the Company’s development programs and, ultimately, the attainment of profitable operations are dependent on future events, including, among other things, its ability to access potential markets; secure financing, develop a customer base; attract, retain and motivate qualified personnel; and develop strategic alliances and collaborations. From inception, the Company has been funded by a combination of equity and debt financings.

The Company expects to continue to incur substantial losses over the next several years during its development phase. To fully execute its business plan, the Company will need to complete certain research and development activities and clinical studies. Further, the Company’s product candidates will require regulatory approval prior to commercialization. These activities will span many years and require substantial expenditures to complete and may ultimately be unsuccessful. Any delays in completing these activities could adversely impact the Company. The Company plans to meet its capital requirements primarily through issuances of debt and equity securities and, in the longer term, revenue from product sales.

Based on our clinical and research and development plans and our timing expectations related to the progress of our programs, we expect that our cash, cash equivalents and investment securities as of March 31, 2019 will enable us to fund our operating expenses and capital expenditure requirements through at least the second quarter of 2020. We have based this estimate on assumptions that may prove to be wrong, and we could utilize our available capital resources sooner than we currently expect. Furthermore, our operating plan may change, and we may need additional funds to meet operational needs and capital requirements for product development and commercialization sooner than planned. Because of the numerous risks and uncertainties associated with the development and commercialization of our product candidates and the extent to which we may enter into additional collaborations with third parties to participate in their development and commercialization, we are unable to estimate the amounts of increased capital outlays and operating expenditures associated with our current and anticipated clinical trials. Our future funding requirements will depend on many factors, as we:

•	initiate or continue clinical trials of our product candidates;
•	continue the research and development of our product candidates, seek to discover additional product candidates; seek regulatory approvals for our product candidates if they successfully complete clinical trials;
•	establish sales, marketing and distribution infrastructure and scale-up manufacturing capabilities to commercialize any product candidates that may receive regulatory approval;
•	evaluate strategic transactions we may undertake; and
•	enhance operational, financial and information management systems and hire additional personnel, including personnel to support development of our product candidates and, if a product candidate is approved, our commercialization efforts.

SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

Note 4: SIGNIFICANT ACCOUNTING POLICIES

Leases

Effective January 1, 2019, the Company accounts for its leases under ASC 842, Leases. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the consolidated balance sheet as both a right of use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right of use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right of use asset result in straight-line rent expense over the lease term. For finance leases, interest on the lease liability and the amortization of the right of use asset results in front-loaded expense over the lease term. Variable lease expenses are recorded when incurred.

In calculating the right of use asset and lease liability, the Company elects to combine lease and non-lease components. The Company excludes short-term leases having initial terms of 12 months or less from the new guidance as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term.

The Company continues to account for leases in the prior period financial statements under ASC Topic 840.

Other than above, there have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s annual report on Form 10-K, which was filed with the SEC on March 15, 2019.

New Accounting Standards

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that we adopt as of the specified effective date. Unless otherwise discussed, we do not believe that the impact of recently issued standards that are not yet effective will have a material impact on our financial position or results of operations upon adoption.

Recent Accounting Standards Adopted in the Year

Leases

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) in order to increase transparency and comparability among organizations by, among other provisions, recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous GAAP. For public companies, ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods) using a modified retrospective approach and early adoption is permitted. In transition, entities may also elect a package of practical expedients that must be applied in its entirety to all leases commencing before the adoption date, unless the lease is modified, and permits entities to not reassess (a) the existence of a lease, (b) lease classification or (c) determination of initial direct costs, as of the adoption date, which effectively allows entities to carryforward accounting conclusions under previous U.S. GAAP. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, which provides entities an optional transition method to apply the guidance under Topic 842 as of the adoption date, rather than as of the earliest period presented. The Company adopted Topic 842 on January 1, 2019, using the optional transition method to apply the new guidance as of January 1, 2019, rather than as of the earliest period presented, and elected the package of practical expedients described above. Based on the analysis, on January 1, 2019, the Company recorded right of use assets of approximately $637,000, lease liability of approximately $670,000 and eliminated deferred rent of approximately $33,000.

SEC Disclosure Update and Simplification

In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. This final rule was effective on November 5, 2018. The first presentation of the changes in shareholders’ equity in accordance with the new guidance is included in this Form 10-Q for the quarter ended March 31, 2019.

Improvements to Non-Employee Share-Based Payment Accounting

In June 2018, the FASB issued ASU 2018-07 “Improvements to Non-employee Share-Based Payment Accounting”, which simplifies the accounting for share-based payments granted to non-employees for goods and services. Under the ASU, most of the guidance on such payments to non-employees would be aligned with the requirements for share-based payments granted to employees. The amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The Company has early adopted the new standard effective January 1, 2019 and the adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements.

NET LOSS PER SHARE APPLICABLE TO COMMON SHAREHOLDER

3 Months Ended

Mar. 31, 2019

Noncontrolling Interest [Abstract]

NET LOSS PER SHARE APPLICABLE TO COMMON SHAREHOLDER

Note 5: NET LOSS PER SHARE APPLICABLE TO COMMON SHAREHOLDER

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

The following table sets forth the computation of net loss per share:

	For the Three Months Ended
	March 31,
	2019			2018
Numerator:
Net loss	$	(5,318,925	)	$	(3,196,486	)

Denominator:
Weighted average common shares outstanding		45,465,754			10,622,420

Net loss per share data:
Basic and Diluted	$	(0.12	)	$	(0.30	)

The following securities, rounded to the thousand, were not included in the diluted net loss per share calculation because their effect was anti-dilutive for the periods presented:

	For the Three Months Ended
	March 31,
	2019		2018
Common stock options		4,538,000		439,000
Common stock purchase warrants		22,979,000		6,520,000
Common stock warrants - liability treatment		27,000		-
Potentially dilutive securities		27,544,000		6,959,000

PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment, Net, by Type [Abstract]

PROPERTY AND EQUIPMENT

Note 6: PROPERTY AND EQUIPMENT

Property and equipment consist of the following as of March 31, 2019 and December 31, 2018, respectively:

		March 31,			December 31,
	Estimated Useful Lives	2019			2018
Lab equipment	5 Years	$	55,000		$	-
Computers and equipment	3-5 Years		138,000			66,000
Office furniture	5 Years		178,000			82,000
Total			371,000			148,000
Less: accumulated depreciation			(11,000	)		-
Property and equipment, net		$	360,000		$	148,000

Depreciation expense for the three months ended March 31, 2019 was approximately $11,000. Furniture and computer equipment were placed in use on January 1, 2019, therefore no depreciation expense was recorded during the year ended December 31, 2018.

LEASES

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

LEASES

Note 7: LEASES

The Company leases office space under agreements classified as operating leases that expire on various dates through 2022. All of the Company’s lease liabilities result from the lease of its corporate headquarters in Houston, Texas, which expires in 2021, and its Jacksonville, Florida office space, which expires in 2022. Such leases do not require any contingent rental payments, impose any financial restrictions, or contain any residual value guarantees. Certain of the Company’s leases include renewal options and escalation clauses; renewal options have not been included in the calculation of the lease liabilities and right of use assets as the Company is not reasonably certain to exercise the options. Variable expenses generally represent the Company’s share of the landlord’s operating expenses. The Company does not act as a lessor or have any leases classified as financing leases.

The Company excludes short-term leases having initial terms of 12 months or less from the new accounting guidance as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company has two lease agreements, an office at the Florida Atlantic Research and Development Authority and laboratory space located at the Texas Medical Center in Houston, which are included in short-term lease expense below.

At March 31, 2019, the Company had operating lease liabilities of approximately $625,000 and right of use assets of approximately $592,000, which were included in the condensed consolidated balance sheet.

The following summarizes quantitative information about the Company’s operating leases:

	For the Three Months Ended
	March 31, 2019
Operating lease expense summary:
Operating lease expense	$	55,000
Short-term lease expense		22,000
Variable lease expense		15,000
Total	$	92,000

Other information
Operating cash flows from operating leases	$	56,000
Right of use assets exchanged for new operating lease liabilities	$	670,000
Weighted-average remaining lease term – operating leases		2.0
Weighted-average discount rate – operating leases		6.8	%

Maturities of our operating leases, excluding short-term leases, are as follows:

Nine months ended December 31, 2019	$	169,000
Year ended December 31, 2020		231,000
Year ended December 31, 2021		226,000
Year ended December 31, 2022		68,000
Total	$	694,000
Less present value discount		(69,000	)
Operating lease liabilities included in the Condensed Consolidated Balance Sheet at March 31, 2019	$	625,000

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

3 Months Ended

Mar. 31, 2019

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Note 8: ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payable and accrued liabilities consist of the following as of March 31, 2019 and December 31, 2018, respectively:

	March 31,		December 31,
	2019		2018
Accounts payable	$	1,670,000	$	1,619,000
Compensation and benefits		478,000		416,000
Professional fees		268,000		236,000
Technology license fees		80,000		80,000
Investor relations fees		153,000		297,000
Other		45,000		106,000
Total accounts payable and accrued liabilities	$	2,694,000	$	2,754,000

WARRANT LIABILITY AND FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2019

Derivatives And Fair Value [Abstract]

WARRANT LIABILITY AND FAIR VALUE MEASUREMENTS

Note 9: WARRANT LIABILITY AND FAIR VALUE MEASUREMENTS

A summary of quantitative information with respect to valuation methodology and significant unobservable inputs used for the Company’s common stock purchase warrants that are categorized within Level 3 of the fair value hierarchy for the three months ended March 31, 2019 and 2018 is as follows:

	For the Three Months Ended
	March 31,
	2019			2018
Stock price	$	6.60		$	3.38
Exercise price	$	9.72		$	1.20
Contractual term (years)		0.83			0.28
Volatility (annual)		97	%		69	%
Risk-free rate		2	%		1	%
Dividend yield (per share)		0	%		0	%

The foregoing assumptions are reviewed quarterly and are subject to change based primarily on management’s assessment of the probability of the events described occurring. Accordingly, changes to these assessments could materially affect the valuations.

Financial Liabilities Measured at Fair Value on a Recurring Basis

Financial liabilities measured at fair value on a recurring basis are summarized below and disclosed on the balance sheet under Warrant liability:

Fair value measured at March 31, 2019

Quoted prices in active

Significant other

Significant

markets

observable inputs

unobservable inputs

Fair value at

(Level 1)

(Level 2)

(Level 3)

March 31, 2019

Warrant liability

58,000

Fair value measured at December 31, 2018

Quoted prices in active

Significant other

Significant

markets

observable inputs

unobservable inputs

Fair value at

(Level 1)

(Level 2)

(Level 3)

December 31, 2018

Warrant liability

49,000

The fair value accounting standards define fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is determined based upon assumptions that market participants would use in pricing an asset or liability. Fair value measurements are rated on a three-tier hierarchy as follows:



Level 1 inputs: Quoted prices (unadjusted) for identical assets or liabilities in active markets;



Level 2 inputs: Inputs, other than quoted prices included in Level 1, that are observable either directly or indirectly; and



Level 3 inputs: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions.

There were no transfers between Level 1, 2 or 3 during the three months ended March 31, 2019.

The following table presents changes in Level 3 liabilities measured at fair value for the three months ended March 31, 2019:

	Warrant
	Liability
Balance - January 1, 2019	$	49,000
Change in fair value of warrant liability		9,000
Balance – March 31, 2019	$	58,000

STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2019

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

Note 10: STOCKHOLDERS’ EQUITY

Common Stock Transactions

Exercise of Stock Warrants

During the three months ended March 31, 2019, certain outstanding warrants were exercised by a warrant holder providing aggregate proceeds to the Company of approximately $5,400 and resulted in the issuance of 1,799 shares of common stock.

Exercise of Stock Options

In January 2019, 11,980 shares of common stock were issued pursuant to stock option exercises at an exercise price equal to $4.82 per share.

Consulting Arrangements

During the three months ended March 31, 2019, the Company issued 30,000 shares of common stock in connection with consulting agreements. The fair value of the common stock of approximately $176,000 was recognized as stock-based compensation expense in general and administrative expenses.

Share Purchase Warrants

A summary of the Company’s share purchase warrants as of March 31, 2019 and changes during the period is presented below:

						Weighted Average
	Number of			Weighted Average		Remaining Contractual		Total Intrinsic
	Warrants			Exercise Price		Life (in years)		Value
Balance - January 1, 2019		23,016,000		$	4.78		4.29	$	26,066,000
Exercised for cash		(2,000	)		2.99		-		-
Expired or cancelled		(8,000	)		12.72		-		-
Balance - March 31, 2019		23,006,000		$	4.78		4.04	$	48,553,000

STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED COMPENSATION

Note 11: STOCK-BASED COMPENSATION

The following table sets forth stock-based compen

sation expenses recorded during the respective periods:

	For the Three Months Ended
	March 31,
	2019		2018
Stock Compensation expenses:
Research and development	$	687,000	$	103,000
General and administrative		839,000		33,000
Total stock compensation expenses	$	1,526,000	$	136,000

At March 31, 2019, the total stock-based compensation cost related to unvested awards not yet recognized was $15.7 million. The expected weighted average period compensation costs to be recognized was 1.90 years. Future option grants will impact the compensation expense recognized.

On October 19, 2018 the Board of Directors granted Mr. Peter Hoang, our Chief Executive Officer, an option award of 1,359,855 shares of our common stock at an exercise price of $9.18 (which price is equal to the closing price of our common stock on October 19, 2018). These option awards had a term of ten years and were fully vested upon grant and as such, all stock-based compensation expenses were recorded during the fiscal year ended December 31, 2018.

After engagement of a compensation consultant, and further review and consideration of Mr. Hoang’s overall compensation, certain changes were recommended by the Compensation Committee and approved by the Board on March 14, 2019, Mr. Hoang’s option award for 1,359,855 shares was amended to change the vesting from being fully vested to being subject to vesting on a monthly basis over four years. There was no incremental stock-based compensation expense recorded during the quarter ended March 31, 2019 relating to this modification.

COMMITMENTS

3 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS

Note 12: COMMITMENTS

Employment Agreements

On February 6, 2019, the Company appointed Mythili Koneru as the Company’s Senior Vice President Clinical Development. In connection with Ms. Koneru’s appointment, she entered into an employment agreement with the Company. The employment agreement provides that Ms. Koneru’s base salary will be $350,000 per year and she is eligible for an annual performance bonus of up to 35% of her base salary.

On March 14, 2019, the Company and Mr. Hoang entered into an amendment to Mr. Hoang’s employment agreement to make the following changes:

		To reflect an increase of Mr. Hoang’s annual base salary from $362,500 to $380,000 per year effective January 1, 2019;
		To eliminate references to future equity awards in the second and third anniversary of the Employment Agreement of one percent (1%) of outstanding shares and to eliminate references to the initial equity award Mr. Hoang already received and to eliminate the first anniversary equity award that was not paid by the Company to Mr. Hoang;
		To revise the Company’s products and services applicable to the non-compete provision; and
		To change the notice provision to the new headquarter location in Texas and the governing law to Texas.

All other terms of Mr. Hoang’s employment agreement not modified by the Amendment remain unchanged and in place.

RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2019

Related Party Disclosure [Abstract]

RELATED PARTY TRANSACTIONS

Note 13: RELATED PARTY TRANSACTIONS

The Baylor College of Medicine (“BCM”) Sponsored Research Agreement

On November 16, 2018, in furtherance of the BCM License Agreement and as contemplated by the terms thereof, the Company entered in a Sponsored Research Agreement (“SRA”) with BCM, which provided for the conduct of research for the Company by credentialed personnel at Baylor’s Center for Cell and Gene Therapy. During the quarter ended March 31, 2019, the Company paid BCM approximately $84,000 under the SRA.

The Consulting Agreement-Dr. Vera

On October 19, 2018, after the closing of the Merger, the Company entered into a consulting agreement with Dr. Juan Vera, a member of the Company’s Board of Directors, to serve as the Company’s Chief Development Officer. During the quarter ended March 31, 2019, Dr. Vera was paid approximately $81,000 by the Company under his consulting agreement.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Leases

The Company continues to account for leases in the prior period financial statements under ASC Topic 840.

New Accounting Standards

Recent Accounting Standards Adopted in the Year

Leases

SEC Disclosure Update and Simplification

Improvements to Non-Employee Share-Based Payment Accounting

NET LOSS PER SHARE APPLICABLE TO COMMON SHAREHOLDER (Tables)

3 Months Ended

Mar. 31, 2019

Noncontrolling Interest [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of net loss per share:

	For the Three Months Ended
	March 31,
	2019			2018
Numerator:
Net loss	$	(5,318,925	)	$	(3,196,486	)

Denominator:
Weighted average common shares outstanding		45,465,754			10,622,420

Net loss per share data:
Basic and Diluted	$	(0.12	)	$	(0.30	)

Net Loss Per Share

The following securities, rounded to the thousand, were not included in the diluted net loss per share calculation because their effect was anti-dilutive for the periods presented:

	For the Three Months Ended
	March 31,
	2019		2018
Common stock options		4,538,000		439,000
Common stock purchase warrants		22,979,000		6,520,000
Common stock warrants - liability treatment		27,000		-
Potentially dilutive securities		27,544,000		6,959,000

PROPERTY AND EQUIPMENT (Tables)

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment, Net, by Type [Abstract]

Property, Plant and Equipment

Property and equipment consist of the following as of March 31, 2019 and December 31, 2018, respectively:

		March 31,			December 31,
	Estimated Useful Lives	2019			2018
Lab equipment	5 Years	$	55,000		$	-
Computers and equipment	3-5 Years		138,000			66,000
Office furniture	5 Years		178,000			82,000
Total			371,000			148,000
Less: accumulated depreciation			(11,000	)		-
Property and equipment, net		$	360,000		$	148,000

LEASES (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Schedule Of Lease Cost And Other Information Related to Operating Leases

The following summarizes quantitative information about the Company’s operating leases:

	For the Three Months Ended
	March 31, 2019
Operating lease expense summary:
Operating lease expense	$	55,000
Short-term lease expense		22,000
Variable lease expense		15,000
Total	$	92,000

Other information
Operating cash flows from operating leases	$	56,000
Right of use assets exchanged for new operating lease liabilities	$	670,000
Weighted-average remaining lease term – operating leases		2.0
Weighted-average discount rate – operating leases		6.8	%

Lessee, Operating Lease, Liability, Maturity

Maturities of our operating leases, excluding short-term leases, are as follows:

Nine months ended December 31, 2019	$	169,000
Year ended December 31, 2020		231,000
Year ended December 31, 2021		226,000
Year ended December 31, 2022		68,000
Total	$	694,000
Less present value discount		(69,000	)
Operating lease liabilities included in the Condensed Consolidated Balance Sheet at March 31, 2019	$	625,000

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2019

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consist of the following as of March 31, 2019 and December 31, 2018, respectively:

	March 31,		December 31,
	2019		2018
Accounts payable	$	1,670,000	$	1,619,000
Compensation and benefits		478,000		416,000
Professional fees		268,000		236,000
Technology license fees		80,000		80,000
Investor relations fees		153,000		297,000
Other		45,000		106,000
Total accounts payable and accrued liabilities	$	2,694,000	$	2,754,000

WARRANT LIABILITY AND FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2019

Derivatives And Fair Value [Abstract]

Valuation Methodology

	For the Three Months Ended
	March 31,
	2019			2018
Stock price	$	6.60		$	3.38
Exercise price	$	9.72		$	1.20
Contractual term (years)		0.83			0.28
Volatility (annual)		97	%		69	%
Risk-free rate		2	%		1	%
Dividend yield (per share)		0	%		0	%

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

Financial liabilities measured at fair value on a recurring basis are summarized below and disclosed on the balance sheet under Warrant liability:

Fair value measured at March 31, 2019

Quoted prices in active

Significant other

Significant

markets

observable inputs

unobservable inputs

Fair value at

(Level 1)

(Level 2)

(Level 3)

March 31, 2019

Warrant liability

58,000

Fair value measured at December 31, 2018

Quoted prices in active

Significant other

Significant

markets

observable inputs

unobservable inputs

Fair value at

(Level 1)

(Level 2)

(Level 3)

December 31, 2018

Warrant liability

49,000

Schedule of Changes in Level 3 Liabilities Measured at Fair Value

The following table presents changes in Level 3 liabilities measured at fair value for the three months ended March 31, 2019:

	Warrant
	Liability
Balance - January 1, 2019	$	49,000
Change in fair value of warrant liability		9,000
Balance – March 31, 2019	$	58,000

STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2019

Stockholders Equity [Line Items]

Schedule of share purchase warrants

A summary of the Company’s share purchase warrants as of March 31, 2019 and changes during the period is presented below:

						Weighted Average
	Number of			Weighted Average		Remaining Contractual		Total Intrinsic
	Warrants			Exercise Price		Life (in years)		Value
Balance - January 1, 2019		23,016,000		$	4.78		4.29	$	26,066,000
Exercised for cash		(2,000	)		2.99		-		-
Expired or cancelled		(8,000	)		12.72		-		-
Balance - March 31, 2019		23,006,000		$	4.78		4.04	$	48,553,000

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock based Compensation Expenses

The following table sets forth stock-based compen

sation expenses recorded during the respective periods:

	For the Three Months Ended
	March 31,
	2019		2018
Stock Compensation expenses:
Research and development	$	687,000	$	103,000
General and administrative		839,000		33,000
Total stock compensation expenses	$	1,526,000	$	136,000

LIQUIDITY AND FINANCIAL CONDITION - Additional Information (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Liquidity And Financial Condition Abstract [Abstract]
Cash and Cash Equivalents, at Carrying Value	$ 57,706,579	$ 61,746,748

SIGNIFICANT ACCOUNTING POLICIES- Additional Information (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Operating Lease, Liability	$ 670,000
Operating Lease, Right-of-Use Asset	592,422	$ 0
Deferred Rent Credit	$ 33,000

NET LOSS PER SHARE APPLICABLE TO COMMON SHAREHOLDER - Computation of income (loss) per share (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net loss	$ (5,318,925)	$ (3,196,486)
Denominator:
Weighted average common shares outstanding	45,465,754	10,622,420
Net loss per share data:
Basic and Diluted	$ (0.12)	$ (0.30)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

NET LOSS PER SHARE APPLICABLE TO COMMON SHAREHOLDER - Potentially Dilutive Securities (Detail) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Potentially dilutive securities	27,544,000	6,959,000
Employee Stock Option [Member]
Potentially dilutive securities	4,538,000	439,000
Warrant [Member]
Common Stock Purchase Warrants	22,979,000	6,520,000
Common Stock Warrants Liability Treatment [Member]
Common Stock Purchase Warrants	27,000	0

PROPERTY AND EQUIPMENT - Property and equipment (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 371,000	$ 148,000
Less: accumulated depreciation	(11,000)	0
Property, plant and equipment, net	360,280	147,668
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 138,000	66,000
Computer Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Computer Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 178,000	82,000
Property, Plant and Equipment, Useful Life	5 years
Lab Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 55,000	$ 0
Property, Plant and Equipment, Useful Life	5 years

PROPERTY AND EQUIPMENT - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Depreciation	$ 11,000	$ 0

LEASES - Lease Cost And Other Information Related to Operating Leases (Detail)	3 Months Ended
	Mar. 31, 2019 USD ($)
Operating Lease Expense [Abstract]
Operating Lease, Cost	$ 55,000
Short-term Lease, Cost	22,000
Variable Lease, Cost	15,000
Lease, Cost	92,000
Other Lease Information [Abstract]
Operating Lease, Payments	56,000
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 670,000
Operating Lease, Weighted Average Remaining Lease Term	2 years
Operating Lease, Weighted Average Discount Rate, Percent	6.80%

LEASES - Maturities of our operating leases (Detail)	Mar. 31, 2019 USD ($)
Nine months ended December 31, 2019	$ 169,000
Year ended December 31, 2020	231,000
Year ended December 31, 2021	226,000
Year ended December 31, 2022	68,000
Total	694,000
Less present value discount	(69,000)
Operating lease liabilities included in the Condensed Consolidated Balance Sheet at March 31, 2019	$ 670,000

LEASES - Additional Information (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Operating Lease, Liability	$ 670,000
Operating Lease, Right-of-Use Asset	$ 592,422	$ 0

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Accounts payable and accrued liabilities (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Accounts Payable And Accrued Liabilities [Line Items]
Accounts payable	$ 1,670,000	$ 1,619,000
Compensation and benefits	478,000	416,000
Professional fees	268,000	236,000
Technology license fees	80,000	80,000
Investor relations fees	153,000	297,000
Other	45,000	106,000
Total accounts payable and accrued liabilities	$ 2,694,019	$ 2,754,572

WARRANT LIABILITY AND FAIR VALUE MEASUREMENTS - Conversion Option - Valuation Methodology (Detail) - Share Purchase Warrants [Member] - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Stock price	$ 6.60	$ 3.38
Exercise price	$ 9.72	$ 1.20
Contractual term (years)	9 months 29 days	3 months 10 days
Volatility (annual)	97.00%	69.00%
Risk-free rate	2.00%	1.00%
Dividend yield (per share)	0.00%	0.00%

WARRANT LIABILITY AND FAIR VALUE MEASUREMENTS - Conversion Option - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Fair Value Hedging [Member] - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Warrant liability	$ 58,000	$ 49,000
Fair Value, Inputs, Level 1 [Member]
Warrant liability	0	0
Fair Value, Inputs, Level 2 [Member]
Warrant liability	0	0
Fair Value, Inputs, Level 3 [Member]
Warrant liability	$ 58,000	$ 49,000

WARRANT LIABILITY AND FAIR VALUE MEASUREMENTS - Conversion Option - Schedule of Changes in Level 3 Liabilities Reflected in Accrued Expenses Measured at Fair Value (Detail)	3 Months Ended
	Mar. 31, 2019 USD ($)
Class of Warrant or Right [Line Items]
Balance	$ 49,000
Change in fair value of warrant liability	9,000
Balance	$ 58,000

STOCKHOLDERS' EQUITY- Summary of the Company's share purchase warrants (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Number of Warrants, Beginning balance	23,016,000
Number of Warrant Exercised for cash	(2,000)
Number Of Warrant Expired Or Cancelled	(8,000)
Number of Warrants, Ending balance	23,006,000
Weighted Average Exercise Price, Beginning Balance	$ 4.78
Weighted Average Exercise Price, Exercised for cash	2.99
Weighted Average Exercise Price, Expired or cancelled	12.72
Weighted Average Exercise Price, Ending Balance	$ 4.78
Weighted Average Remaining Contractual Life, Outstanding (in years)	4 years 14 days	4 years 3 months 14 days
Total Intrinsic Value	$ 48,553,000		$ 26,066,000

STOCKHOLDERS' EQUITY - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Common Stock Capital Shares Reserved For Future Issuance [Line Items]
Proceeds from Warrant Exercises	$ 5,379	$ 0
Exercise Of Stock Warrants [Member]
Common Stock Capital Shares Reserved For Future Issuance [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,799
Proceeds from Warrant Exercises	$ 5,400
Common Stock [Member]
Common Stock Capital Shares Reserved For Future Issuance [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	11,980	10,416
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 4.82
Consulting Agreements [Member]
Common Stock Capital Shares Reserved For Future Issuance [Line Items]
Fair value of common stock	$ 176,000
Common shares issued	30,000

STOCK-BASED COMPENSATION (Details) - USD ($)	3 Months Ended
STOCK-BASED COMPENSATION (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation	$ 1,525,976	$ 136,193
Research and Development Expense [Member]
Share-based Compensation	687,000	103,000
General and Administrative Expense [Member]
Share-based Compensation	$ 839,000	$ 33,000

STOCK-BASED COMPENSATION - Additional Information (Detail) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) $ / shares shares
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized \| $	$ 15.7
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 10 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Peter Hoang [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross \| shares	1,359,855
Share Price \| $ / shares	$ 9.18
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights	Mr. Hoang’s option award for 1,359,855 shares was amended to change the vesting from being fully vested to being subject to vesting on a monthly basis over four years.

COMMITMENTS - Additional Information (Detail) - USD ($)				3 Months Ended
COMMITMENTS - Additional Information (Detail) - USD ($)	Feb. 06, 2019	Jan. 01, 2019	Dec. 31, 2018	Mar. 31, 2019
Mythili Koneru [Member]
Commitments And Contingencies [Line Items]
Annual Base Salary	$ 350,000
Deferred Compensation Arrangement with Individual, Cash Awards Granted, Percentage				35.00%
Peter Hoang [Member]
Commitments And Contingencies [Line Items]
Annual Base Salary		$ 380,000	$ 362,500

RELATED PARTY TRANSACTIONS - Additional Information (Detail) - USD ($)	1 Months Ended
	Oct. 19, 2018	Mar. 31, 2019
Payment for Sponsored Research Fees		$ 84,000
Chief Development Officer [Member] \| Consulting Arrangements [Member]
Consulting Fees	$ 81,000