0001558370-21-011828 | 10-Q | XBRL Viewer | Onconova Therapeutics INC

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2021	Aug. 04, 2021
Document and Entity Information
Entity Registrant Name	Onconova Therapeutics, Inc.
Entity Central Index Key	0001130598
Document Type	10-Q
Document Period End Date	Jun. 30, 2021
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Document Transition Report	false
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,781,040
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	ONTX
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3627252
Entity File Number	001-36020
Entity Address, Address Line One	12 Penns Trail
Entity Address, City or Town	Newtown
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18940
City Area Code	267
Local Phone Number	759-3680

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 43,709,000	$ 19,025,000
Receivables	27,000	37,000
Prepaid expenses and other current assets	457,000	722,000
Total current assets	44,193,000	19,784,000
Property and equipment, net	45,000	52,000
Other non-current assets	140,000	150,000
Total assets	44,378,000	19,986,000
Current liabilities:
Accounts payable	4,290,000	4,833,000
Accrued expenses and other current liabilities	2,983,000	4,962,000
Deferred revenue	226,000	226,000
Total current liabilities	7,499,000	10,021,000
Warrant liability	530,000	321,000
Deferred revenue, non-current	3,356,000	3,469,000
Total liabilities	11,385,000	13,811,000
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 5,000,000 authorized at June 30, 2021 and December 31, 2020, none issued and outstanding at June 30, 2021 and December 31, 2020
Common stock, $0.01 par value, 125,000,000 and 250,000,000 authorized at June 30, 2021 and December 31, 2020, 15,781,040 and 12,396,219 shares issued and outstanding at June 30, 2021 and December 31, 2020.	158,000	124,000
Additional paid in capital	470,335,000	434,593,000
Accumulated deficit	(437,502,000)	(428,556,000)
Accumulated other comprehensive (loss) income	2,000	14,000
Total stockholders' equity	32,993,000	6,175,000
Total liabilities and stockholders' equity	$ 44,378,000	$ 19,986,000

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Condensed Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	125,000,000	250,000,000
Common stock, shares issued	15,781,040	12,396,219
Common stock, shares outstanding	15,781,040	12,396,219

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Operations
Revenue	$ 57,000	$ 56,000	$ 113,000	$ 108,000
Operating expenses:
General and administrative	2,850,000	2,594,000	5,067,000	4,401,000
Research and development	1,852,000	4,801,000	3,789,000	8,171,000
Total operating expenses	4,702,000	7,395,000	8,856,000	12,572,000
Loss from operations	(4,645,000)	(7,339,000)	(8,743,000)	(12,464,000)
Change in fair value of warrant liability	427,000	(56,000)	(209,000)	(119,000)
Other income, net	(13,000)		6,000	96,000
Net loss	$ (4,231,000)	$ (7,395,000)	$ (8,946,000)	$ (12,487,000)
Net loss per share, basic and diluted (in dollars per share)	$ (0.27)	$ (0.65)	$ (0.59)	$ (1.14)
Basic and diluted weighted average shares outstanding (in shares)	15,780,863	11,303,508	15,201,719	10,996,624

Condensed Consolidated Statements of Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Comprehensive Loss
Net loss	$ (4,231,000)	$ (7,395,000)	$ (8,946,000)	$ (12,487,000)
Other comprehensive loss, before tax:
Foreign currency translation adjustments, net	4,000	7,000	(12,000)	1,000
Other comprehensive loss, net of tax	4,000	7,000	(12,000)	1,000
Comprehensive loss	$ (4,227,000)	$ (7,388,000)	$ (8,958,000)	$ (12,486,000)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Consolidated Statement of Stockholders' Equity (Deficit) - USD ($)	Common Stock	Additional Paid in Capital	Accumulated deficit	Accumulated other comprehensive (loss) income	Total
Balance at Dec. 31, 2019	$ 74,000	$ 414,917,000	$ (403,399,000)	$ (18,000)	$ 11,574,000
Balance (in shares) at Dec. 31, 2019	7,411,157
Increase (Decrease) in Stockholders' Equity (Deficit)
Net loss			(12,487,000)		(12,487,000)
Other comprehensive income (loss)				1,000	1,000
Stock-based compensation		185,000			185,000
Issuance of common stock, net	$ 18,000	9,044,000			9,062,000
Issuance of common stock, net (in shares)	1,844,168
Issuance of common stock upon exercise of warrants	$ 23,000	7,274,000			7,297,000
Issuance of common stock upon exercise of warrants (in shares)	2,273,172
Issuance of common stock, pre-funded warrants and warrants, net	$ 1,000				1,000
Issuance of common stock, pre-funded warrants and warrants, net (in shares)	83,333
Balance at Jun. 30, 2020	$ 116,000	431,420,000	(415,886,000)	(17,000)	15,633,000
Balance (in shares) at Jun. 30, 2020	11,611,830
Balance at Mar. 31, 2020	$ 111,000	429,752,000	(408,491,000)	(24,000)	21,348,000
Balance (in shares) at Mar. 31, 2020	11,161,072
Increase (Decrease) in Stockholders' Equity (Deficit)
Net loss			(7,395,000)		(7,395,000)
Other comprehensive income (loss)				7,000	7,000
Stock-based compensation		92,000			92,000
Issuance of common stock upon exercise of warrants	$ 4,000	1,576,000			1,580,000
Issuance of common stock upon exercise of warrants (in shares)	367,425
Issuance of common stock, pre-funded warrants and warrants, net	$ 1,000				1,000
Issuance of common stock, pre-funded warrants and warrants, net (in shares)	83,333
Balance at Jun. 30, 2020	$ 116,000	431,420,000	(415,886,000)	(17,000)	15,633,000
Balance (in shares) at Jun. 30, 2020	11,611,830
Balance at Dec. 31, 2020	$ 124,000	434,593,000	(428,556,000)	14,000	$ 6,175,000
Balance (in shares) at Dec. 31, 2020	12,396,219				12,396,219
Increase (Decrease) in Stockholders' Equity (Deficit)
Net loss			(8,946,000)		$ (8,946,000)
Other comprehensive income (loss)				(12,000)	(12,000)
Exercise of stock options		24,000			24,000
Exercise of stock options (in shares)	4,642
Stock-based compensation		125,000			125,000
Shares issued in connection with reverse stock split	104
Issuance of common stock, net	$ 32,000	35,115,000			35,147,000
Issuance of common stock, net (in shares)	3,220,075
Issuance of common stock upon exercise of warrants	$ 2,000	478,000			480,000
Issuance of common stock upon exercise of warrants (in shares)	160,000
Balance at Jun. 30, 2021	$ 158,000	470,335,000	(437,502,000)	2,000	$ 32,993,000
Balance (in shares) at Jun. 30, 2021	15,781,040				15,781,040
Balance at Mar. 31, 2021	$ 158,000	470,268,000	(433,271,000)	(2,000)	$ 37,153,000
Balance (in shares) at Mar. 31, 2021	15,779,160
Increase (Decrease) in Stockholders' Equity (Deficit)
Net loss			(4,231,000)		(4,231,000)
Other comprehensive income (loss)				4,000	4,000
Exercise of stock options	$ 0	7,000			7,000
Exercise of stock options (in shares)	1,776
Stock-based compensation		60,000			60,000
Issuance of common stock upon exercise of warrants (in shares)	104
Balance at Jun. 30, 2021	$ 158,000	$ 470,335,000	$ (437,502,000)	$ 2,000	$ 32,993,000
Balance (in shares) at Jun. 30, 2021	15,781,040				15,781,040

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating activities:
Net loss	$ (8,946,000)	$ (12,487,000)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	7,000	5,000
Change in fair value of warrant liabilities	209,000	119,000
Stock compensation expense	125,000	185,000
Changes in assets and liabilities:
Receivables	10,000	57,000
Prepaid expenses and other current assets	265,000	(70,000)
Other assets	10,000
Accounts payable	(543,000)	877,000
Accrued expenses and other current liabilities	(1,979,000)	(418,000)
Deferred revenue	(113,000)	(112,000)
Net cash used in operating activities	(10,955,000)	(11,844,000)
Investing activities:
Payments for purchase of property and equipment		(15,000)
Net cash used in investing activities		(15,000)
Financing activities:
Proceeds from the sale of common stock and warrants, net of costs	35,147,000	9,062,000
Proceeds from the exercise of warrants	480,000	7,298,000
Proceeds from the exercise of stock options	24,000
Net cash provided by financing activities	35,651,000	16,360,000
Effect of foreign currency translation on cash	(12,000)	1,000
Net increase in cash and cash equivalents	24,684,000	4,502,000
Cash and cash equivalents at beginning of period	19,025,000	22,726,000
Cash and cash equivalents at end of period	$ 43,709,000	$ 27,228,000

Nature of Business

6 Months Ended

Jun. 30, 2021

Nature of Business

Nature of Business

1. Nature of Business

The Company

Onconova Therapeutics, Inc. (the “Company”) was incorporated in the State of Delaware on December 22, 1998 and commenced operations on January 1, 1999. The Company’s headquarters are located in Newtown, Pennsylvania. The Company is a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer. The Company has proprietary targeted anti-cancer agents designed to disrupt specific cellular pathways that are important for cancer cell proliferation. The Company believes that the product candidates in its pipeline have the potential to be efficacious in a variety of cancers with unmet medical need. The Company currently has the following two clinical-stage programs: 1. ON 123300 in solid tumors; and 2. oral rigosertib alone or in combination with PD-1 inhibitors for treatment of KRAS-mutated solid tumors. During 2012, Onconova Europe GmbH was established as a wholly owned subsidiary of the Company for the purpose of further developing business in Europe.

The Company has entered into several license and collaboration agreements. In 2011, the Company entered into a license agreement, as subsequently amended, with SymBio Pharmaceuticals Limited (“SymBio”), which grants SymBio certain rights to commercialize rigosertib in Japan and Korea. In December 2017, the Company entered into a license and collaboration agreement with HanX Biopharmaceuticals, Inc. (“HanX”) for the further development, registration and commercialization of ON 123300 in greater China. ON 123300 is a preclinical compound which the Company believes has the potential to overcome the limitations of current generation CDK 4/6 inhibitors. Under the terms of the agreement, the Company received an upfront payment, and will receive regulatory and commercial milestone payments, as well as royalties on Chinese sales. The key feature of the collaboration is that HanX provides all funding required for Chinese IND enabling studies performed for Chinese Food and Drug Administration IND approval, which was received in January 2020. The Company and HanX also intended for these studies to comply with the FDA standards for IND approval. Accordingly, such studies were used by the Company for an IND filing with the US FDA in November 2020. The FDA Study May Proceed letter was issued in December 2020. The Company maintains global rights outside of China. On March 2, 2018, the Company entered into a License, Development and Commercialization Agreement (the “Pint License Agreement”) with Pint International SA (which, together with its affiliate Pint Pharma GmbH, are collectively referred to as “Pint”). Under the terms of the agreement, the Company granted Pint an exclusive, royalty-bearing license, with the right to sublicense, under certain Company patent rights and know-how, to develop and commercialize any pharmaceutical product containing rigosertib in all uses of rigosertib in certain Latin American countries. In May 2019, the Company entered into a License and Collaboration Agreement (the “HanX License Agreement”) with HanX. Under the terms of the HanX License Agreement, the Company granted HanX an exclusive, royalty-bearing license, with the right to sublicense, under certain Company patent rights and know-how, to develop and commercialize any pharmaceutical product (the “HanX Product”) containing rigosertib in all uses of rigosertib or the HanX Product in human therapeutic uses in the People’s Republic of China, Hong Kong, Macau and Taiwan (the “HanX Territory”). In connection with the HanX License Agreement, the Company also entered into a Securities Purchase Agreement with each of HanX and Abundant New Investments Ltd. (“Abundant”), an affiliate of HanX (each, a “Securities Purchase Agreement” and together, the “Securities Purchase Agreements”). HanX did not fulfill its obligations under the HanX License Agreement and in January 2020, in accordance with the terms of the HanX License Agreement, the HanX License Agreement was deemed to be void ab initio. Upon this termination, the rights to HanX Product in the HanX Territory reverted to the Company in accordance with the terms of the HanX License Agreement. In addition, the Securities Purchase Agreements terminated automatically effective upon the termination of the HanX License Agreement in accordance with the Securities Purchase Agreements. In November 2019, the Company entered into a Distribution, License and Supply Agreement (the “Knight License Agreement”) with Knight Therapeutics Inc. (“Knight”). Under the terms of the Knight License Agreement, the Company granted Knight (i) a non-exclusive, royalty-bearing license, with the right to sublicense, under certain Company patent rights and know-how, to develop and manufacture any product (the “Knight Licensed Product”) containing rigosertib for Canada (and Israel, should Knight exercise its option as set forth in the Knight License Agreement) (the “Knight Territory”) and in human uses (the

“Field”), and (ii) an exclusive, royalty-bearing license, with the right to sublicense, under certain Company patent rights and know-how, to commercialize the Knight Licensed Product in the Knight Territory and in the Field. Knight has also agreed to obtain from the Company all of its requirements of the Knight Licensed Products for the Knight Territory, and the Company has agreed to supply Knight with all of its requirements of the Knight Licensed Products. In December 2019, the Company entered into a Distribution, License and Supply Agreement (the “STA License Agreement”) with Specialised Therapeutics Asia Pte. Ltd. (“STA”). Under the terms of the STA License Agreement, the Company granted STA (i) a non-exclusive, royalty -bearing license, with the right to sublicense, under certain Company patent rights and know-how, to develop and manufacture any product (the “STA Licensed Product”) containing rigosertib for Australia and New Zealand (the “STA Territory”) and in human uses (the “Field”), and (ii) an exclusive, royalty-bearing license, with the right to sublicense, under certain Company patent rights and know- how, to commercialize the STA Licensed Product in the STA Territory and in the Field. STA has also agreed to obtain from the Company all of its requirements of the STA Licensed Products for the STA Territory, and the Company has agreed to supply STA with all of its requirements of the STA Licensed Products.

On May 20, 2021, the Company amended its certificate of incorporation to effect a one-for-fifteen reverse stock split of its common stock. All common stock, equity, share and per share amounts in the financial statements and notes have been retroactively adjusted to reflect this one-for-fifteen reverse stock split.

On May 20, 2021, the Company amended its certificate of incorporation to decrease the number of authorized shares of common stock par value $0.01 per share from 250,000,000 to 125,000,000.

Liquidity

The Company has incurred recurring operating losses since inception. For the six months ended June 30, 2021, the Company incurred a net loss of $8,946,000 and as of June 30, 2021 the Company had generated an accumulated deficit of $437,502,000. The Company anticipates operating losses to continue for the foreseeable future due to, among other things, costs related to research, development of its product candidates and its preclinical programs, strategic alliances and its administrative organization. At June 30, 2021, the Company had cash and cash equivalents of $43,709,000. The Company will require substantial additional financing to fund its ongoing clinical trials and operations, and to continue to execute its strategy.

On January 11, 2021, the Company closed on an offering of common stock. The Company issued 1,303,408 shares of common stock and net proceeds were approximately $8.5 million. On February 16, 2021, the Company closed on an offering of common stock. The Company issued 1,916,667 shares of common stock and net proceeds were approximately $26.7 million.

Following the unsuccessful conclusion of the INSPIRE trial, the Company has taken steps to reduce its cash expenditures. From September 2020 to December 2020, the Company implemented a workforce reduction of employees in research and development who were primarily focused on preparing the NDA for the use of rigosertib in higher risk MDS. In total, 10 employees were terminated, representing approximately 43% of the Company’s workforce. A severance related charge of approximately $1,207,000, which includes a non-cash charge of approximately $29,000 related to the accelerated vesting of outstanding stock options, was recorded in the year ended December 31, 2020. The accrued severance balance remaining at June 30, 2021 was $177,000 and is included in accrued expenses and other liabilities on the balance sheet. It will be paid in periodic amounts through September 2021. On October 30, 2020, the Company notified its landlord of its intention to not renew its office space lease. The lease expired in February 2021 and was modified to a month-to-month lease for a portion of the space. The lease terminated in June 2021 and the Company has relocated to temporary office space with all employees working remotely.

The Company has and may continue to delay, scale-back, or eliminate certain of its research and development activities and other aspects of its operations until such time as the Company is successful in securing additional funding. The Company is exploring various dilutive and non-dilutive sources of funding, including equity financings, strategic alliances, business development and other sources. The future success of the Company is dependent upon its ability to obtain additional funding. There can be no assurance, however, that the Company will be successful in obtaining such funding in sufficient amounts, on terms acceptable to the Company, or at all. The Company believes that its cash and cash equivalents will be sufficient to fund its ongoing trials and business operations for more than eighteen months from the date of this filing.

COVID-19

While the Company is not aware of a material impact from the novel coronavirus disease (“COVID-19”) pandemic through June 30, 2021, the full extent to which COVID-19 will directly or indirectly impact the Company’s business, results of operations and financial condition, including manufacturing, clinical trials and research and development costs, depends on future developments that are highly uncertain at this time.

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2021

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Basis of Presentation

The condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Certain information and footnotes normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The financial statements include the consolidated accounts of the Company and its wholly-owned subsidiary, Onconova Europe GmbH. All significant intercompany transactions have been eliminated.

Unaudited Interim Financial Information

The accompanying condensed consolidated balance sheet as of June 30, 2021, the condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2021 and 2020, the consolidated statements of stockholders’ equity (deficit) for the three and six months ended June 30, 2021 and 2020 and the condensed consolidated statements of cash flows for the six months ended June 30, 2021 and 2020 are unaudited. The interim unaudited condensed consolidated financial statements have been prepared on the same basis as the annual audited consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of June 30, 2021, the results of its operations for the three and six months ended June 30, 2021 and 2020, and its cash flows for the six months ended June 30, 2021 and 2020. The financial data and other information disclosed in these notes related to the three and six months ended June 30, 2021 and 2020 are unaudited. The results for the three and six months ended June 30, 2021 are not necessarily indicative of results to be expected for the year ending December 31, 2021, any other interim periods, or any future year or period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto for the year ended December 31, 2020 included in the Company’s annual report on Form 10-K filed with the SEC on March 18, 2021.

All common stock, equity, share and per share amounts in the financial statements and notes have been retroactively adjusted to reflect a one-for-fifteen reverse stock split which was effective May 20, 2021.

Segment Information

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in one segment, which is the identification and development of oncology therapeutics.

Significant Accounting Policies

The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2020 included in the Company’s annual report on Form 10-K filed with the SEC on March 18, 2021. Since the date of such financial statements, there have been no changes to the Company’s significant accounting policies.

Fair Value Measurements

The carrying amounts reported in the accompanying consolidated financial statements for cash and cash equivalents, accounts payable, and accrued liabilities approximate their respective fair values because of the short-term nature of these accounts. The fair value of the warrant liability is discussed in Note 7, “Fair Value Measurements.”

Recent Accounting Pronouncements

In June 2016, the FASB issued new guidance on the accounting for credit losses on financial instruments. The guidance was amended in November 2019. The new guidance introduces an expected loss model for estimating credit losses, replacing the incurred loss model. The new guidance also changes the impairment model for available-for-sale debt securities, requiring the use of an allowance to record estimated credit losses (and subsequent recoveries). The guidance is effective for the Company in fiscal years beginning after December 15, 2022, and interim periods within those years, with early adoption permitted. The Company is evaluating the impact of the adoption of the standard on its consolidated financial statements.

Revenue

6 Months Ended

Jun. 30, 2021

Revenue.

Revenue

3. Revenue

The Company’s revenue during the three and six months ended June 30, 2021 and 2020 was from its license and collaboration agreement with SymBio.


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Symbio
Upfront license fee recognition over time	$	57,000	$	56,000	$	113,000	$	112,000
Supplies		—		—		—		(4,000)

	$	57,000	$	56,000	$	113,000	$	108,000

Deferred revenue is as follows:


	Symbio
	Upfront Payment
Deferred balance at December 31, 2020	$	3,695,000
Recognition to revenue		113,000

Deferred balance at June 30, 2021	$	3,582,000

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Net Loss Per Share of Common Stock

6 Months Ended

Jun. 30, 2021

Net Loss Per Share of Common Stock

Net Loss Per Share of Common Stock

4. Net Loss Per Share of Common Stock

The following potentially dilutive securities outstanding at June 30, 2021 and 2020 have been excluded from the computation of diluted weighted average shares outstanding, as they would be antidilutive (reflects the number of common shares as if the dilutive securities had been converted to common stock):


	June 30,
	2021	2020
Warrants	511,202	1,457,479
Stock options	60,431	69,640
	571,633	1,527,119

Warrants

6 Months Ended

Jun. 30, 2021

Warrants

Warrants

5. Warrants

Common Stock warrants are accounted for in accordance with applicable accounting guidance provided in ASC Topic 815, Derivatives and Hedging - Contracts in Entity’s Own Equity (ASC Topic 815), as either derivative liabilities or as equity instruments depending on the specific terms of the warrant agreement. Some of the Company’s warrants are classified as liabilities because in certain circumstances they could require cash settlement.

Warrants outstanding and warrant activity (reflects the number of common shares as if the warrants were converted to common stock) for the six months ended June 30, 2021 is as follows:


					Balance				Balance
		Exercise		Expiration	December 31,	Warrants	Warrants	Warrants	June 30,
Description	Classification	Price		Date	2020	Issued	Exercised	Expired	2021
Non-tradable warrants	Liability	$	2,587.50	July 2021	430	—	—	—	430
Tradable warrants	Liability	$	1,107.00	July 2021	14,187	—	—	—	14,187
Non-tradable pre-funded warrants	Equity	$	2.25	July 2023	26	—	—	—	26
Non-tradable warrants	Equity	$	24.00	December 2022	26,189	—	—	—	26,189
Non-tradable warrants	Equity	$	211.50	March 2021	333	—	—	(333)	—
Non-tradable warrants	Equity	$	317.25	March 2021	556	—	—	(556)	—
Non-tradable warrants	Equity	$	116.8425	June 2021	1,000	—	—	(1,000)	—
Non-tradable pre-funded warrants	Equity	$	2.25	none	3,522	—	—	—	3,522
Non-tradable warrants	Equity	$	24.00	December 2022	120,407	—	—	—	120,407
Non-tradable pre-funded warrants	Equity	$	2.25	none	4,974	—	—	—	4,974
Non-tradable warrants	Equity	$	30.00	September 2023	7,306	—	—	—	7,306
Non-tradable warrants	Equity	$	3.00	November 2024	409,500	—	(160,000)	—	249,500
Non-tradable warrants	Equity	$	6.54375	December 2024	16,953	—	—	—	16,953
Non-tradable warrants	Equity	$	6.75450	December 2024	46,263	—	—	—	46,263
Non-tradable warrants	Equity	$	6.77850	December 2023	29,968	—	—	—	29,968
					681,614	—	(160,000)	(1,889)	519,725

The tradable warrants which expired in July 2021 were issued in connection with a financing transaction completed in August 2016. Subsequent to the closing of that financing transaction, the Company executed a one-for-fifteen reverse stock split in September 2018. Subsequently, the Company executed a one-for-fifteen reverse stock split in May 2021. As a result, each of the 3,192,140 warrants is exercisable for 1/225 of one share of common stock at an exercise price of $4.92 per warrant. The table above shows the number of shares of common stock which could be

obtained by the exercise of all of the outstanding warrants, 14,187; and shows the exercise price for 225 of the warrants, $1,107.00.

Balance Sheet Detail

6 Months Ended

Jun. 30, 2021

Balance Sheet Detail

Balance Sheet Detail

6. Balance Sheet Detail

Prepaid expenses and other current assets:


	June 30,		December 31,
	2021		2020
Research and development	$	42,000	$	189,000
Manufacturing		144,000		90,000
Insurance		80,000		263,000
Other		191,000		180,000
	$	457,000	$	722,000

Property and equipment:


	June 30,		December 31,
	2021		2020
Property and equipment	$	70,000	$	70,000
Accumulated depreciation		(25,000)		(18,000)
	$	45,000	$	52,000

Accrued expenses and other current liabilities:


	June 30,		December 31,
	2021		2020
Research and development	$	1,849,000	$	2,541,000
Employee compensation		990,000		2,239,000
Professional fees		144,000		182,000
	$	2,983,000	$	4,962,000

Fair Value Measurements

6 Months Ended

Jun. 30, 2021

Fair Value Measurements

Fair Value Measurements

7. Fair Value Measurements

Fair value is defined 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.

The Company utilizes a valuation hierarchy for disclosure of the inputs to the valuations used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

On January 5, 2016, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with an institutional investor providing for the issuance and sale by the Company of 861 shares of Common Stock, at a purchase price of $2,137.50 per share and warrants to purchase up to 430 shares of Common Stock

(the “Warrants”) for aggregate gross proceeds of $1,840,000. The Company has classified the warrants as a liability (see Note 5). The estimated fair value using the Black-Scholes pricing model was approximately $0 at June 30, 2021 and December 31, 2020. These warrants expired in July 2021.

On July 29, 2016 the Company closed on a Rights Offering, issuing 16,000 shares of Common Stock, 14,187 Tradable Warrants and 2,918 Pre-Funded Warrants. The Tradable Warrants are exercisable for a period of five years for one share of Common Stock at an exercise price of $1,107 per share. After the one-year anniversary of issuance, the Company may redeem the Tradable Warrants for $0.015 per Tradable Warrant if the volume weighted average price of its Common Stock is above $2,767.50 for each of 10 consecutive trading days. The Company has classified the Tradable Warrants as a liability (see Note 5). The Tradable Warrants have been listed on the Nasdaq Capital Market since issuance and the Company regularly monitors the trading activity. The Company has determined that an active and orderly market for the Tradable Warrants has developed and that the Nasdaq Capital Market price is the best indicator of fair value of the warrant liability. The quoted market price was used to determine the fair value at December 31, 2020 and June 30, 2021. These warrants expired in July 2021.

The following fair value hierarchy table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020:


	Fair Value Measurement as of:
	June 30, 2021								December 31, 2020
	Level 1		Level 2		Level 3		Balance		Level 1		Level 2		Level 3		Balance
Tradable warrants liability	$	530,000	$	—	$	—	$	530,000	$	321,000	$	—	$	—	$	321,000
Non-tradable warrants liability		—		—		—		—		—		—		—		—
Total	$	530,000	$	—	$	—	$	530,000	$	321,000	$	—	$	—	$	321,000

There were no transfers between levels in any of the periods reported.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stock-Based Compensation

6 Months Ended

Jun. 30, 2021

Stock-Based Compensation

Stock-Based Compensation

8. Stock-Based Compensation

The 2018 Omnibus Incentive Compensation Plan (the “2018 Plan”) was unanimously approved by the Company’s Board of Directors on May 24, 2018 and was approved by the Company’s stockholders on June 27, 2018.

Under the 2018 Plan, the Company may grant incentive stock options, non-qualified stock options, stock awards, stock units, stock appreciation rights and other stock-based awards to employees, non-employee directors and consultants, and advisors. The maximum aggregate number of shares of the Company’s common stock that may be issued under the 2018 Plan is 26,823.

The 2018 Plan was amended and restated following unanimous approval of the Company’s Board of Directors on April 24, 2019 and was approved by the Company’s shareholders on June 17, 2019. The amended 2018 Plan (the “Amended Plan”) allowed for an additional 39,300 shares of the Company’s common stock that may be issued under the Amended Plan with respect to awards made on and after June 17, 2019. At June 30, 2021, there were 5,205 shares available for future issuance.

Stock-based compensation expense includes stock options granted to employees and non-employees and has been reported in the Company’s statements of operations and comprehensive loss in either research and development expenses or general and administrative expenses depending on the function performed by the optionee. No net tax benefits related to the stock-based compensation costs have been recognized since the Company’s inception. The

Company recognized stock-based compensation expense as follows for the three and six months ended June 30, 2021 and 2020:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
General and administrative	$	43,000	$	46,000	$	99,000	$	91,000
Research and development		17,000		46,000		26,000		94,000
	$	60,000	$	92,000	$	125,000	$	185,000

A summary of stock option activity for the six months ended June 30, 2021 is as follows:


		Options Outstanding
					Weighted
			Weighted-		Average
	Shares		Average		Remaining	Aggregate
	Available	Number	Exercise		Contractual	Intrinsic
	for Grant	of Shares	Price		Term (in years)	Value
Balance, December 31, 2020	12,339	57,939	$	368.10	8.38	$	—
Authorized	—	—
Granted	(21,000)	21,000	$	7.80	9.94		21,636
Exercised	—	(4,642)	$	4.65	8.47
Forfeitures	13,866	(13,866)	$	940.63	7.11
Balance, June 30, 2021	5,205	60,431	$	124.00	8.73	$	—
Vested or expected to vest, June 30, 2021		58,925	$	124.00	8.73	$	—
Exercisable at June 30, 2021		24,261	$	297.34	7.87	$	—

The Company accounts for all stock-based payments made to employees, non-employees and directors using an option pricing model for estimating fair value. Accordingly, stock-based compensation expense is measured based on the estimated fair value of the awards on the date of grant, net of forfeitures. Compensation expense is recognized for the portion that is ultimately expected to vest over the period during which the recipient renders the required services to the Company using the straight-line single option method.

The Company uses the Black-Scholes option-pricing model to estimate the fair value of stock options at the grant date. The Black-Scholes model requires the Company to make certain estimates and assumptions, including estimating the fair value of the Company’s Common Stock, assumptions related to the expected price volatility of the Common Stock, the period during which the options will be outstanding, the rate of return on risk-free investments and the expected dividend yield for the Company’s stock.

As of June 30, 2021, there was $102,000 of unrecognized compensation expense related to the unvested stock options which is expected to be recognized over a weighted-average period of approximately 2.29 years.

The weighted-average assumptions underlying the Black-Scholes calculation of grant date fair value include the following:


	Six months ended June 30,
	2021			2020
Risk-free interest rate		1.02	%		0.45	%
Expected volatility		123.32	%		105.14	%
Expected term		6.25	years		6.00	years
Expected dividend yield		0	%		0	%
Weighted average grant date fair value	$	3.80		$	3.75

The weighted-average valuation assumptions were determined as follows:

●

Risk-free interest rate: The Company based the risk-free interest rate on the interest rate payable on U.S. Treasury securities in effect at the time of grant for a period that is commensurate with the assumed expected option term.

●

Expected term of options: Due to its lack of sufficient historical data, the Company estimates the expected life of its employee stock options using the “simplified” method, as prescribed in Staff Accounting Bulletin (SAB) No. 107, whereby the expected life equals the arithmetic average of the vesting term and the original contractual term of the option.

●

Expected stock price volatility: Expected volatility is based on the historical volatility of the Company’s Common Stock since its IPO in July 2013.

●

Expected annual dividend yield: The Company has never paid, and does not expect to pay, dividends in the foreseeable future. Accordingly, the Company assumed an expected dividend yield of 0.0%.

●

Estimated forfeiture rate: The Company’s estimated annual forfeiture rate on stock option grants was 4.14% in 2021 and 2020, based on the historical forfeiture experience.

Grants of PSUs and SARs

On July 9, 2020, the compensation committee of the board of directors and the board approved a cash bonus program of cash-settled stock appreciation right (“2020 SAR”) awards and cash-settled performance stock unit (“2020 PSU”) awards to the Company’s employees. An aggregate of 2020 SAR awards with respect to 256,713 shares of common stock and 2020 PSU awards with respect to 124,220 shares of common stock were granted to the Company’s employees. The 2020 SAR awards will be settled in cash, vest 33% on the first anniversary of the date of grant, and the remaining 67% monthly over the next 24 months, have a per-share base amount of $8.40, which was the closing sales price of a share of the Company’s common stock on the grant date, and are in all cases subject to the terms and conditions of the Company’s form of SAR award agreement.

The 2020 PSU awards vest 50% upon the submission of a new drug application (“NDA”) to the U.S. FDA for rigosertib in higher-risk myelodysplastic syndromes (“HR-MDS”) and 50% upon U.S. FDA approval of rigosertib for HR-MDS. The 2020 PSU awards have a maximum value of $21.60 per share. The maximum price per share is the per-share value based on the Company’s market capitalization at $250 million and the Company’s outstanding shares of common stock, which was 11,611,829 shares on July 9, 2020. In all cases, the 2020 PSU awards are subject to the terms and conditions of the Company’s form of PSU award agreement.

In addition, on July 9, 2020, based on the recommendation of the compensation committee, the board approved a change in the non-employee director compensation policy that would provide for an annual SAR award (“2020 Director SAR”) with respect to 8,333 shares of common stock for each of the Company’s non-employee directors. No other changes to the non-employee director compensation policy were approved and, on July 9, 2020, the Board approved the initial 8,333 2020 Director SAR award to each of the non-employee directors for an aggregate total of 58,333 2020 Directors SAR awards granted. The 2020 Director SAR awards vest on the first anniversary of grant subject to the director’s continued service and will be settled in cash, have a per-share base amount of $8.40, and are in all cases subject to the terms and conditions of the Company’s form of 2020 Director SAR award agreement.

Each SAR subject to a 2020 SAR award represents the right to a cash payment equal to the excess, if any, of (i) the fair market value of each underlying share of the Company’s common stock, determined on the date of exercise of the SAR minus (ii) the base amount. Pursuant to the terms of the SAR awards, in no event may the cash payment for each SAR exceed $13.20, which is the maximum price per share of $21.60, minus the base amount of $8.40, subject to adjustment in accordance with the terms of the Stock Appreciation Right Award Agreement. The maximum price per share is the per-share value based on the Company’s market capitalization at $250 million and the Company’s outstanding shares of common stock, which was 11,611,829 shares on July 9, 2020.

On February 17, 2021, the compensation committee of the board of directors and the board approved a cash bonus program of cash-settled stock appreciation right (“2021 SAR”) awards and cash-settled performance stock unit (“2021 PSU”) awards to the Company’s employees. An aggregate of 2021 SAR awards with respect to 100,000 shares of common stock and 2021 PSU awards with respect to 100,000 shares of common stock were granted to the Company’s employees. The 2021 SAR awards will be settled in cash, vest 33% on the first anniversary of the date of grant, and the remaining 67% monthly over the next 24 months, have a per-share base amount of $22.65, which was the closing sales price of a share of the Company’s common stock on the grant date, and are in all cases subject to the terms and conditions of the Company’s form of SAR award agreement. Each SAR subject to a 2021 SAR award represents the right to a cash payment equal to the excess, if any, of (i) the fair market value of each underlying share of the Company’s common stock, determined on the date of exercise of the 2021 SAR minus (ii) the base amount. Pursuant to the terms of the 2021 SAR awards, in no event may the cash payment for each SAR exceed $15.45, which is the maximum price per share of $38.10, minus the base amount of $22.65, subject to adjustment in accordance with the terms of the Stock Appreciation Right Award Agreement. The maximum price per share is the per-share value based on the Company’s market capitalization at $600 million and the Company’s outstanding shares of common stock, which was 15,767,492 shares on February 17, 2021.

The 2021 PSU awards vest 20% upon the initiation of a new clinical program with an in-licensed compound, 20% for reaching the recommended Phase 2 dose for any compound, 20% for the first patient enrolled in the expansion cohort of the Phase 1 ON123300 clinical trial, 20% for the first patient enrolled in a registrational study for any compound, and 20% for the topline data of a registrational study for any compound. The 2021 PSU awards have a maximum value of $38.10 per share. The maximum price per share is the per-share value based on the Company’s approximate market capitalization at $600 million and the Company’s outstanding shares of common stock, which was 15,767,492 shares on February 17, 2021. In all cases, the 2021 PSU awards are subject to the terms and conditions of the Company’s form of PSU award agreement.

The fair value of the 2021 SARs granted has been estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:


	Six months ended
	June 30, 2021
Risk-free interest rate		0.95	%
Expected volatility		129.79	%
Expected term		6.5 years
Expected dividend yield		0	%
Weighted average grant date fair value	$	0.62

During the six months ended June 30, 2021, the Company recognized $521,000 of compensation expense related to the SARs and PSUs. Included in compensation expense related to SARs is $442,000 of expense resulting from the exercise of 2020 SARs during February 2021. As of June 30, 2021, the SARs and PSUs liability was $102,000 and is included in accrued expenses. As of June 30, 2021, there was $53,000 of unrecognized compensation cost related to the 2020 SARs and PSUs and $664,000 of unrecognized compensation cost related to the 2021 SARs and PSUs.

Research Agreements

6 Months Ended

Jun. 30, 2021

Research Agreements

Research Agreements

9. Research Agreements

The Company has entered into various licensing and right-to-sublicense agreements with educational institutions for the exclusive use of patents and patent applications, as well as any patents that may develop from research being conducted by such educational institutions in the field of anticancer therapy, genes and proteins. Results from this research have been licensed to the Company pursuant to these agreements. Under one of these agreements with Temple University (“Temple”), the Company is required to make annual maintenance payments to Temple and royalty payments based upon a percentage of sales generated from any products covered by the licensed patents, with minimum specified royalty payments. As no sales had been generated through June 30, 2021 under the licensed patents, the Company has not incurred any royalty expenses related to this agreement. In addition, the Company is required to pay Temple a percentage of any sublicensing fees received by the Company.

Related-Party Transactions

6 Months Ended

Jun. 30, 2021

Related-Party Transactions

Related-Party Transactions

10. Related-Party Transactions

The Company entered into a research agreement, as subsequently amended, with the Mount Sinai School of Medicine (“Mount Sinai”), with which a former member of its board of directors and a stockholder is affiliated. The agreement expired in June 2020 and was not renewed. The board member left the Company’s board in August 2020. Mount Sinai is undertaking research on behalf of the Company on the terms set forth in the agreements. Mount Sinai, in connection with the Company, will prepare applications for patents generated from the research. Results from all projects will belong exclusively to Mount Sinai, but the Company will have an exclusive option to license any inventions. Payments to Mount Sinai under this research agreement for the three months ended June 30, 2021 and 2020 were $0 and $77,000, respectively, and for the six months ended June 30, 2021 and 2020 were $0 and $201,000, respectively. At both June 30, 2021 and December 31, 2020, the Company had $77,000 payable to Mount Sinai under this agreement.

Subsequent Events

6 Months Ended

Jun. 30, 2021

Subsequent Events

Subsequent Events

12. Subsequent Event

On July 30, 2021, stockholders approved the Onconova Therapeutics, Inc. 2021 Incentive Compensation Plan (the ”2021Plan”). The 2021 Plan is a successor to the Onconova Therapeutics, Inc. 2018 Omnibus Incentive Compensation Plan, as amended and restated. The 2021 Plan makes available 1,300,000 new shares for incentive compensation.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2021
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Certain information and footnotes normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The financial statements include the consolidated accounts of the Company and its wholly-owned subsidiary, Onconova Europe GmbH. All significant intercompany transactions have been eliminated.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying condensed consolidated balance sheet as of June 30, 2021, the condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2021 and 2020, the consolidated statements of stockholders’ equity (deficit) for the three and six months ended June 30, 2021 and 2020 and the condensed consolidated statements of cash flows for the six months ended June 30, 2021 and 2020 are unaudited. The interim unaudited condensed consolidated financial statements have been prepared on the same basis as the annual audited consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of June 30, 2021, the results of its operations for the three and six months ended June 30, 2021 and 2020, and its cash flows for the six months ended June 30, 2021 and 2020. The financial data and other information disclosed in these notes related to the three and six months ended June 30, 2021 and 2020 are unaudited. The results for the three and six months ended June 30, 2021 are not necessarily indicative of results to be expected for the year ending December 31, 2021, any other interim periods, or any future year or period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto for the year ended December 31, 2020 included in the Company’s annual report on Form 10-K filed with the SEC on March 18, 2021. All common stock, equity, share and per share amounts in the financial statements and notes have been retroactively adjusted to reflect a one-for-fifteen reverse stock split which was effective May 20, 2021.
Segment Information	Segment Information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in one segment, which is the identification and development of oncology therapeutics.
Significant Accounting Policies	Significant Accounting Policies The Company’s significant accounting policies are disclosed in the audited consolidated financial statements for the year ended December 31, 2020 included in the Company’s annual report on Form 10-K filed with the SEC on March 18, 2021. Since the date of such financial statements, there have been no changes to the Company’s significant accounting policies.
Fair Value Measurements	Fair Value Measurements The carrying amounts reported in the accompanying consolidated financial statements for cash and cash equivalents, accounts payable, and accrued liabilities approximate their respective fair values because of the short-term nature of these accounts. The fair value of the warrant liability is discussed in Note 7, “Fair Value Measurements.”
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the FASB issued new guidance on the accounting for credit losses on financial instruments. The guidance was amended in November 2019. The new guidance introduces an expected loss model for estimating credit losses, replacing the incurred loss model. The new guidance also changes the impairment model for available-for-sale debt securities, requiring the use of an allowance to record estimated credit losses (and subsequent recoveries). The guidance is effective for the Company in fiscal years beginning after December 15, 2022, and interim periods within those years, with early adoption permitted. The Company is evaluating the impact of the adoption of the standard on its consolidated financial statements.

- Definition

Disclosure of accounting policy for segment reporting.

+ References + Details

Revenue (Tables)

6 Months Ended

Jun. 30, 2021

Revenue.

Schedule of recognized revenue under funding, license and collaboration agreements


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Symbio
Upfront license fee recognition over time	$	57,000	$	56,000	$	113,000	$	112,000
Supplies		—		—		—		(4,000)

	$	57,000	$	56,000	$	113,000	$	108,000

Schedule of deferred revenue


	Symbio
	Upfront Payment
Deferred balance at December 31, 2020	$	3,695,000
Recognition to revenue		113,000

Deferred balance at June 30, 2021	$	3,582,000

Net Loss Per Share of Common Stock (Tables)

6 Months Ended

Jun. 30, 2021

Net Loss Per Share of Common Stock

Schedule of antidilutive securities which have been excluded from the computation of diluted weighted average shares outstanding


	June 30,
	2021	2020
Warrants	511,202	1,457,479
Stock options	60,431	69,640
	571,633	1,527,119

Warrants (Tables)

6 Months Ended

Jun. 30, 2021

Warrants

Schedule of warrants outstanding and warrant activity


					Balance				Balance
		Exercise		Expiration	December 31,	Warrants	Warrants	Warrants	June 30,
Description	Classification	Price		Date	2020	Issued	Exercised	Expired	2021
Non-tradable warrants	Liability	$	2,587.50	July 2021	430	—	—	—	430
Tradable warrants	Liability	$	1,107.00	July 2021	14,187	—	—	—	14,187
Non-tradable pre-funded warrants	Equity	$	2.25	July 2023	26	—	—	—	26
Non-tradable warrants	Equity	$	24.00	December 2022	26,189	—	—	—	26,189
Non-tradable warrants	Equity	$	211.50	March 2021	333	—	—	(333)	—
Non-tradable warrants	Equity	$	317.25	March 2021	556	—	—	(556)	—
Non-tradable warrants	Equity	$	116.8425	June 2021	1,000	—	—	(1,000)	—
Non-tradable pre-funded warrants	Equity	$	2.25	none	3,522	—	—	—	3,522
Non-tradable warrants	Equity	$	24.00	December 2022	120,407	—	—	—	120,407
Non-tradable pre-funded warrants	Equity	$	2.25	none	4,974	—	—	—	4,974
Non-tradable warrants	Equity	$	30.00	September 2023	7,306	—	—	—	7,306
Non-tradable warrants	Equity	$	3.00	November 2024	409,500	—	(160,000)	—	249,500
Non-tradable warrants	Equity	$	6.54375	December 2024	16,953	—	—	—	16,953
Non-tradable warrants	Equity	$	6.75450	December 2024	46,263	—	—	—	46,263
Non-tradable warrants	Equity	$	6.77850	December 2023	29,968	—	—	—	29,968
					681,614	—	(160,000)	(1,889)	519,725

Balance Sheet Detail (Tables)

6 Months Ended

Jun. 30, 2021

Balance Sheet Detail

Schedule of prepaid expenses and other current assets


	June 30,		December 31,
	2021		2020
Research and development	$	42,000	$	189,000
Manufacturing		144,000		90,000
Insurance		80,000		263,000
Other		191,000		180,000
	$	457,000	$	722,000

Schedule of property and equipment


	June 30,		December 31,
	2021		2020
Property and equipment	$	70,000	$	70,000
Accumulated depreciation		(25,000)		(18,000)
	$	45,000	$	52,000

Schedule of accrued expenses and other current liabilities


	June 30,		December 31,
	2021		2020
Research and development	$	1,849,000	$	2,541,000
Employee compensation		990,000		2,239,000
Professional fees		144,000		182,000
	$	2,983,000	$	4,962,000

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Measurements

Schedule of financial assets and liabilities measured at fair value on a recurring basis


	Fair Value Measurement as of:
	June 30, 2021								December 31, 2020
	Level 1		Level 2		Level 3		Balance		Level 1		Level 2		Level 3		Balance
Tradable warrants liability	$	530,000	$	—	$	—	$	530,000	$	321,000	$	—	$	—	$	321,000
Non-tradable warrants liability		—		—		—		—		—		—		—		—
Total	$	530,000	$	—	$	—	$	530,000	$	321,000	$	—	$	—	$	321,000

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of stock-based compensation expense


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
General and administrative	$	43,000	$	46,000	$	99,000	$	91,000
Research and development		17,000		46,000		26,000		94,000
	$	60,000	$	92,000	$	125,000	$	185,000

Schedule of stock option activity


		Options Outstanding
					Weighted
			Weighted-		Average
	Shares		Average		Remaining	Aggregate
	Available	Number	Exercise		Contractual	Intrinsic
	for Grant	of Shares	Price		Term (in years)	Value
Balance, December 31, 2020	12,339	57,939	$	368.10	8.38	$	—
Authorized	—	—
Granted	(21,000)	21,000	$	7.80	9.94		21,636
Exercised	—	(4,642)	$	4.65	8.47
Forfeitures	13,866	(13,866)	$	940.63	7.11
Balance, June 30, 2021	5,205	60,431	$	124.00	8.73	$	—
Vested or expected to vest, June 30, 2021		58,925	$	124.00	8.73	$	—
Exercisable at June 30, 2021		24,261	$	297.34	7.87	$	—

Schedule of weighted-average assumptions used for estimating the fair value of the stock compensation granted


	Six months ended June 30,
	2021			2020
Risk-free interest rate		1.02	%		0.45	%
Expected volatility		123.32	%		105.14	%
Expected term		6.25	years		6.00	years
Expected dividend yield		0	%		0	%
Weighted average grant date fair value	$	3.80		$	3.75

2021 SAR

Schedule of weighted-average assumptions used for estimating the fair value of the stock compensation granted


	Six months ended
	June 30, 2021
Risk-free interest rate		0.95	%
Expected volatility		129.79	%
Expected term		6.5 years
Expected dividend yield		0	%
Weighted average grant date fair value	$	0.62

Nature of Business (Details)					3 Months Ended		4 Months Ended	6 Months Ended		12 Months Ended
Nature of Business (Details)	Feb. 16, 2021 USD ($) shares	Jan. 11, 2021 USD ($) shares	Jul. 29, 2016 shares	Jan. 05, 2016 USD ($) shares	Jun. 30, 2021 USD ($) Program $ / shares shares	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) employee $ / shares shares	Jun. 30, 2021 USD ($) Program $ / shares shares	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) $ / shares shares	May 31, 2021 shares	May 20, 2021 $ / shares shares	May 19, 2021 shares	Jul. 09, 2020 shares	Dec. 31, 2019 USD ($)
Nature of Business
Number of clinical programs (in programs) \| Program					2			2
Common stock, par value (in dollars per share) \| $ / shares					$ 0.01		$ 0.01	$ 0.01		$ 0.01		$ 0.01
Common stock authorized (in shares) \| shares					125,000,000		250,000,000	125,000,000		250,000,000		125,000,000	250,000,000
Net loss					$ 4,231,000	$ 7,395,000		$ 8,946,000	$ 12,487,000
Accumulated deficit					437,502,000		$ 428,556,000	437,502,000		$ 428,556,000
Cash and cash equivalents					$ 43,709,000	$ 27,228,000	$ 19,025,000	$ 43,709,000	27,228,000	$ 19,025,000					$ 22,726,000
Common stock outstanding (in shares) \| shares					15,781,040		12,396,219	15,781,040		12,396,219				11,611,829
Net proceeds	$ 26,700,000	$ 8,500,000		$ 1,840,000				$ 35,147,000	9,062,000
Warrants Exercised \| shares								160,000
Proceeds from the exercise of warrants								$ 480,000	$ 7,298,000
Issuance of common stock, net (in shares) \| shares	1,916,667	1,303,408	16,000	861
FTE positions eliminated \| employee							10
FTE eliminated positions (as percent of workforce)							43.00%
Severance charge										$ 1,207,000
Accrued severance balance					$ 177,000			$ 177,000
Non-cash charge, accelerated options										$ 29,000
Stock called by warrants or rights \| shares				430							3,192,140

Summary of Significant Accounting Policies - Segment Information (Details)	6 Months Ended
	Jun. 30, 2021
Summary of Significant Accounting Policies
Reverse stock split	one-for-fifteen

Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
Revenue (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue
Revenue	$ 57,000	$ 56,000	$ 113,000	$ 108,000
Deferred revenue
Balance at the beginning of the period			226,000
Balance at the end of the period	226,000		226,000
SymBio
Deferred revenue
Balance at the beginning of the period			3,695,000
Recognition to revenue			113,000
Balance at the end of the period	3,582,000		3,582,000
SymBio \| License
Revenue
Revenue	$ 57,000	$ 56,000	$ 113,000	112,000
SymBio \| Supplies and other
Revenue
Revenue				$ (4,000)

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 28
-Subparagraph (f)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

Net Loss Per Share of Common Stock (Details) - shares	6 Months Ended
Net Loss Per Share of Common Stock (Details) - shares	Jun. 30, 2021	Jun. 30, 2020
Potentially dilutive securities outstanding excluded from the computation of diluted weighted average shares as they would be antidilutive
Potentially dilutive securities outstanding excluded from the computation of diluted weighted average shares	571,633	1,527,119
Common Stock Warrants
Potentially dilutive securities outstanding excluded from the computation of diluted weighted average shares as they would be antidilutive
Potentially dilutive securities outstanding excluded from the computation of diluted weighted average shares	511,202	1,457,479
Stock options
Potentially dilutive securities outstanding excluded from the computation of diluted weighted average shares as they would be antidilutive
Potentially dilutive securities outstanding excluded from the computation of diluted weighted average shares	60,431	69,640

Warrants (Details)	1 Months Ended	6 Months Ended
Warrants (Details)	Sep. 30, 2018	Jun. 30, 2021 $ / shares shares	May 31, 2021 $ / shares shares	Jan. 05, 2016 shares
Warrants
Reverse stock split ratio	0.0667
Number of securities to each class of warrant (in shares)			3,192,140	430
Warrant exercise price (in dollars per share) \| $ / shares			$ 4.92
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		681,614
Warrants Exercised (in shares)		(160,000)
Warrants Expired (in shares)		(1,889)
Balance at end of the period (in shares)		519,725
Certain institutional and accredited investors
Warrants
Number of securities to each class of warrant (in shares)		225
Non-tradable warrants with exercise price 172.50 Liability
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 2,587.50
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		430
Balance at end of the period (in shares)		430
Tradable warrants with exercise price 73.80 Liability
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 1,107.00
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		14,187
Balance at end of the period (in shares)		14,187
Non-tradable pre-funded warrants with exercise price 0.15 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 2.25
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		26
Balance at end of the period (in shares)		26
Non-tradable warrants with exercise price 1.60 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 24.00
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		26,189
Balance at end of the period (in shares)		26,189
Non-tradable warrants with exercise price 14.10 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 211.50
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		333
Warrants Expired (in shares)		(333)
Non-tradable warrants with exercise price 21.15 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 317.25
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		556
Warrants Expired (in shares)		(556)
Non-tradable warrants with exercise price 7.7895 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 116.8425
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		1,000
Warrants Expired (in shares)		(1,000)
Non-tradable pre-funded warrants with exercise Price 0.15 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 2.25
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		3,522
Balance at end of the period (in shares)		3,522
Non-tradable warrants with exercise price 1.600 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 24.00
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		120,407
Balance at end of the period (in shares)		120,407
Non-tradable pre-funded warrants with exercise Price 0.15 Equity1
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 2.25
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		4,974
Balance at end of the period (in shares)		4,974
Non-tradable warrants with exercise price 2.00 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 30.00
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		7,306
Balance at end of the period (in shares)		7,306
Non-tradable warrants with exercise price 0.20 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 3.00
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		409,500
Warrants Exercised (in shares)		(160,000)
Balance at end of the period (in shares)		249,500
Non-tradable warrants with exercise price 0.43625 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 6.54375
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		16,953
Balance at end of the period (in shares)		16,953
Non-tradable warrants with exercise price 0.45030 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 6.75450
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		46,263
Balance at end of the period (in shares)		46,263
Non-tradable Warrants with Exercise Price 0.45190 Equity
Warrants
Warrant exercise price (in dollars per share) \| $ / shares		$ 6.77850
Warrants outstanding and warrant activity
Balance at beginning of the period (in shares)		29,968
Balance at end of the period (in shares)		29,968

Balance Sheet Detail - Prepaid Expenses and Other Current Assets (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Prepaid expenses and other current assets:
Research and development	$ 42,000	$ 189,000
Manufacturing	144,000	90,000
Insurance	80,000	263,000
Other	191,000	180,000
Prepaid expenses and other current assets	$ 457,000	$ 722,000

Balance Sheet Detail - Property and Equipment (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Property and Equipment
Property and equipment	$ 70,000	$ 70,000
Accumulated depreciation	(25,000)	(18,000)
Property and equipment, net	$ 45,000	$ 52,000

Balance Sheet Detail - Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Balance Sheet Detail
Research and development	$ 1,849,000	$ 2,541,000
Employee compensation	990,000	2,239,000
Professional fees	144,000	182,000
Accrued expenses and other current liabilities:	$ 2,983,000	$ 4,962,000

Fair Value Measurements (Details) - USD ($)					6 Months Ended
Fair Value Measurements (Details) - USD ($)	Feb. 16, 2021	Jan. 11, 2021	Jul. 29, 2016	Jan. 05, 2016	Jun. 30, 2021	Jun. 30, 2020	May 31, 2021	Dec. 31, 2020	Jul. 09, 2020
Sale of Securities
Aggregate shares issued	1,916,667	1,303,408	16,000	861
Price per share (in dollars per share)				$ 2,137.50					$ 21.60
Stock called by warrants or rights				430			3,192,140
Proceeds from Issuance of Common Stock	$ 26,700,000	$ 8,500,000		$ 1,840,000	$ 35,147,000	$ 9,062,000
Estimated fair value using the Black-Scholes pricing model					$ 0			$ 0

Fair Value Measurements - Rights Offering (Details) - $ / shares	Feb. 16, 2021	Jan. 11, 2021	Jul. 29, 2016	Jan. 05, 2016	May 31, 2021	Jul. 29, 2017
Subsidiary, Sale of Stock [Line Items]
Issuance of common stock, net (in shares)	1,916,667	1,303,408	16,000	861
Exercise price (in dollars per share)					$ 4.92
Tradable warrants liability
Subsidiary, Sale of Stock [Line Items]
Rights or warrants issued (in shares)			14,187
Exercise price (in dollars per share)			$ 1,107			$ 0.015
Class Of Warrant Or Right Initially Exercisable Term			five
Redemption period (in years)			one
Volume weighted average price per share of common stock (in dollars per share)			$ 2,767.50
Threshold consecutive trading days (in days)			10 days
Pre-funded warrants
Subsidiary, Sale of Stock [Line Items]
Rights or warrants issued (in shares)			2,918

Fair Value Measurements - Fair Value Hierarchy Table (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Liabilities measured at fair value
Warrant liability	$ 530,000	$ 321,000
Recurring basis
Liabilities measured at fair value
Total	530,000	321,000
Recurring basis \| Tradable warrants liability
Liabilities measured at fair value
Warrant liability	530,000	321,000
Recurring basis \| Level 1
Liabilities measured at fair value
Total	530,000	321,000
Recurring basis \| Level 1 \| Tradable warrants liability
Liabilities measured at fair value
Warrant liability	$ 530,000	$ 321,000

Stock-Based Compensation (Details) - USD ($) $ in Millions	Feb. 17, 2021	Jul. 09, 2020	Jun. 17, 2019	Jun. 30, 2021	Dec. 31, 2020
Stock-Based Compensation
Market Capitalization	$ 600.0	$ 250.0
2018 Plan
Stock-Based Compensation
Shares authorized (in shares)				26,823
Additional shares authorized (in shares)			39,300
Stock options
Stock-Based Compensation
Common Stock available for future issuance (in shares)				5,205	12,339
Stock options \| 2018 Plan
Stock-Based Compensation
Common Stock available for future issuance (in shares)				5,205

Stock-Based Compensation - Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
Stock-Based Compensation - Expense (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Stock-Based Compensation
Net tax benefits related to the stock-based compensation costs			$ 0
Compensation expense	$ 60,000	$ 92,000	125,000	$ 185,000
General and administrative
Stock-Based Compensation
Compensation expense	43,000	46,000	99,000	91,000
Research and development
Stock-Based Compensation
Compensation expense	$ 17,000	$ 46,000	$ 26,000	$ 94,000

Stock-Based Compensation - Activity (Details) - Stock options	6 Months Ended	12 Months Ended
	Jun. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2020 $ / shares shares
Shares Available for Grant
Balance at the beginning of the period (in shares)	12,339
Granted (in shares)	(21,000)
Exercised (in shares)	4,642
Forfeitures (in shares)	13,866
Balance at the end of the period (in shares)	5,205	12,339
Number of Shares
Balance at the beginning of the period (in shares)	57,939
Granted (in shares)	21,000
Exercised (in shares)	(4,642)
Forfeitures (in shares)	(13,866)
Balance at the end of the period (in shares)	60,431	57,939
Vested or expected to vest at the end of the period (in shares)	58,925
Exercisable at the end of the period (in shares)	24,261
Weighted-Average Exercise Price
Balance at the beginning of the period (in dollars per share) \| $ / shares	$ 368.10
Granted (in dollars per share) \| $ / shares	7.80
Exercised (in dollars per share) \| $ / shares	4.65
Forfeitures (in dollars per share) \| $ / shares	940.63
Balance at the end of the period (in dollars per share) \| $ / shares	124.00	$ 368.10
Vested or expected to vest at the end of the period (in dollars per share) \| $ / shares	124.00
Exercisable at the end of the period (in dollars per share) \| $ / shares	$ 297.34
Additional Disclosures
Weighted average remaining contractual term	8 years 8 months 23 days	8 years 4 months 17 days
Weighted average remaining contractual term of options granted	9 years 11 months 8 days
Weighted average remaining contractual term of options exercised	8 years 5 months 19 days
Weighted average remaining contractual term of options forfeitures	7 years 1 month 9 days
Weighted average remaining contractual term of options vested or expected to vest	8 years 8 months 23 days
Weighted average remaining contractual term of options exercisable	7 years 10 months 13 days
Aggregate intrinsic value of options granted \| $	$ 21,636

Stock-Based Compensation - Unrecognized Compensation Expense (Details)	6 Months Ended
	Jun. 30, 2021 USD ($)
Stock options
Stock-Based Compensation
Unrecognized compensation expense related to unvested stock options	$ 102,000
Weighted-average period for recognizing unrecognized compensation expense related to unvested stock options (in years)	2 years 3 months 14 days
SAR awards
Stock-Based Compensation
Unrecognized compensation expense related to unvested stock options	$ 521,000
2020 SAR
Stock-Based Compensation
Unrecognized compensation expense related to unvested stock options	53,000
2021 SAR
Stock-Based Compensation
Unrecognized compensation expense related to unvested stock options	$ 664,000

Stock-Based Compensation - Fair Value Assumptions (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Assumptions used
Expected term (in years)	6 years 6 months
Expected dividend yield (as a percent)	0.00%
SARs liability	$ 102,000
Stock options
Assumptions used
Risk-free interest rate (as a percent)	1.02%	0.45%
Expected volatility (as a percent)	123.32%	105.14%
Expected term (in years)	6 years 3 months	6 years
Expected dividend yield (as a percent)	0.00%	0.00%
Weighted average grant date fair value (in dollars per share)	$ 3.80	$ 3.75
Annualized forfeiture rate (as a percent)			4.14%	4.14%
2021 SAR
Assumptions used
Risk-free interest rate (as a percent)	0.95%
Expected volatility (as a percent)	129.79%
Expected dividend yield (as a percent)	0.00%
Weighted average grant date fair value (in dollars per share)	$ 0.62

Stock-Based Compensation - Grants of PSUs and SARs (Details) - USD ($)			3 Months Ended		6 Months Ended
	Feb. 17, 2021	Jul. 09, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Jan. 05, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)		$ 21.60						$ 2,137.50
Common stock outstanding (in shares)		11,611,829	15,781,040		15,781,040		12,396,219
Market capitalization	$ 600,000,000	$ 250,000,000
Compensation expense			$ 60,000	$ 92,000	$ 125,000	$ 185,000
SAR Award Agreement [member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)			$ 15.45		$ 15.45
Common stock outstanding (in shares)	15,767,492
SAR Award Agreement [member] \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)			38.10		38.10
SAR Award Agreement [member] \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)			$ 22.65		$ 22.65
2020 PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option grants		124,220
2021 PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding (in shares)	15,767,492
Market capitalization	$ 600,000,000
Shares issued			100,000		100,000
2021 PSU \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)	$ 38.10
2021 PSU \| Initiation of a new clinical program with an in-licensed compound
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)	20.00%
2021 PSU \| Reaching the recommended Phase 2 dose for any compound
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)	20.00%
2021 PSU \| First patient enrolled in the expansion cohort of the Phase 1 ON123300 clinical trial
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)	20.00%
2021 PSU \| First patient enrolled in a registrational study for any compound
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)	20.00%
2021 PSU \| Topline data of a registrational study for any compound
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)	20.00%
SAR awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share base amount (per share)		$ 8.40
Share Based Compensation Arrangement By Share Based Payment Award for Cash Payment Of Each SAR		13.20
Compensation expense					$ 442,000
Unrecognized compensation expense related to unvested stock options			$ 521,000		521,000
SAR awards \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)		$ 21.60
2020 SAR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option grants		256,713
Share base amount (per share)		$ 8.40
Unrecognized compensation expense related to unvested stock options			$ 53,000		$ 53,000
2021 SAR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)	67.00%				33.00%
Share base amount (per share)	$ 22.65
Shares issued			100,000		100,000
Unrecognized compensation expense related to unvested stock options			$ 664,000		$ 664,000
Vesting Percentage One \| 2020 PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)		50.00%
Vesting Percentage One \| 2020 SAR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)		33.00%
Vesting Percentage Two \| 2020 PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)		50.00%
Vesting Percentage Two \| 2020 SAR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)		67.00%
Non employee directors \| SAR awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards issued		8,333

Research Agreements (Details)	6 Months Ended
Research Agreements (Details)	Jun. 30, 2021 USD ($)
License
Research Agreements
Revenue	$ 0

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Related-Party Transactions (Details) - Mount Sinai - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Related-Party Transactions
Payments to related party	$ 0	$ 77,000	$ 0	$ 201,000
Amounts due to related party	$ 77,000		$ 77,000		$ 77,000

Securities Registrations and Sales Agreements - January 2020 Offering (Details) - USD ($)					1 Months Ended	6 Months Ended
	Feb. 16, 2021	Jan. 11, 2021	Jul. 29, 2016	Jan. 05, 2016	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020	May 31, 2021
Subsidiary, Sale of Stock [Line Items]
Issuance of common stock, net (in shares)	1,916,667	1,303,408	16,000	861
Warrant exercise price (in dollars per share)								$ 4.92
Payment of Non-accountable Expenses					$ 85,000
Payment of Clearing Fees					$ 10,000
Securities purchase agreements
Subsidiary, Sale of Stock [Line Items]
Issuance of common stock, net (in shares)					1,844,168
Common Stock
Subsidiary, Sale of Stock [Line Items]
Issuance of common stock, net (in shares)						3,220,075	1,844,168
Non-tradable warrants with exercise price 2.00 Equity
Subsidiary, Sale of Stock [Line Items]
Warrant exercise price (in dollars per share)						$ 30.00
HCW
Subsidiary, Sale of Stock [Line Items]
Percentage of management fees on gross proceeds					7.00%
Certain institutional and accredited investors
Subsidiary, Sale of Stock [Line Items]
Percentage of management fees on gross proceeds					1.00%

Securities Registrations and Sales Agreements - 2021 Offering (Details) - USD ($)							1 Months Ended	6 Months Ended
	Feb. 16, 2021	Feb. 10, 2021	Jan. 11, 2021	Jan. 07, 2021	Jul. 29, 2016	Jan. 05, 2016	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020
Aggregate shares issued	1,916,667		1,303,408		16,000	861
Net proceeds	$ 26,700,000		$ 8,500,000			$ 1,840,000		$ 35,147,000	$ 9,062,000
Securities purchase agreements
Aggregate shares issued							1,844,168
Offer price (per share)							$ 5.4225
Lincoln Park Capital Fund, LLC \| The Offering
Expense reimbursement								$ 100,000
Percentage rights to participate								50.00%
Threshold period for exercise or conversion of stock								one
Institutional Investors \| The Offering
Aggregate shares issued				1,303,408
Purchase price				$ 6.675
Net proceeds								$ 8,500,000
Guggenheim Securities, LLC \| Over-allotment
Aggregate shares issued		1,666,667
Purchase price		$ 15.00
Threshold period for exercise or conversion of stock		30
Net proceeds		$ 26,700,000
Additional shares agreed to issue		250,000
Cash fee		6.00%
Legal fees and expenses		$ 100,000

Subsequent Events (Details)	Jul. 30, 2021 shares
Subsequent Event
Subsequent Events:
Additional shares authorized (in shares)	1,300,000