0001213900-20-036343 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2020	Nov. 10, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	Protara Therapeutics, Inc.
Entity Central Index Key	0001359931
Amendment Flag	false
Document Type	10-Q
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Document Period End Date	Sep. 30, 2020
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity File Number	001-36694
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		11,211,840

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 165,904,797	$ 564,124
Restricted cash	50,000
Deferred offering costs		121,712
Prepaid expenses and other current assets	1,160,257	78,057
Total current assets	167,115,054	763,893
Non-current assets:
Property and equipment, net	760,548	458,591
Goodwill	29,367,213
Other assets	1,664,442
Total assets	198,907,257	1,222,484
Current liabilities:
Accounts payable	1,912,553	715,653
Accrued expenses	1,569,348	2,634,790
Short-term debt	370,793
Right-of-use liability, current	34,079
Total current liabilities	3,886,773	3,350,443
Non-current liabilities:
Right-of-use liability, long-term	394,721
Total liabilities	4,281,494	3,350,443
Commitments and Contingencies (Note 6)
Stockholders' Equity (Deficit)
Preferred Stock, $0.001 par value, authorized 10,000,000 shares: Series 1 Convertible Preferred Stock, 8,028 and 0 shares authorized at September 30, 2020 and December 31, 2019, respectively, 8,027 and 0 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively.	8
Common Stock, $0.001 par value, authorized 100,000,000 shares: Common Stock, 10,521,840 and 2,627,533 common shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively.	10,522	2,628
Additional Paid in Capital	232,567,265	10,651,073
Accumulated Deficit	(37,952,032)	(12,781,660)
Total Stockholders' Equity (Deficit)	194,625,763	(2,127,959)
Total Liabilities and Stockholders' Equity (Deficit)	$ 198,907,257	$ 1,222,484

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	10,521,840	2,627,533
Common stock, shares outstanding	10,521,840	2,627,533
Series 1 Convertible Preferred Stock
Preferred stock, shares authorized	8,028	0
Preferred stock, shares issued	8,027	0
Preferred stock, shares outstanding	8,027	0

Condensed Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Operating expense:
Research & development	$ 2,796,214	$ 1,098,617	$ 8,330,727	$ 3,163,179
General & administrative	5,265,965	1,255,466	17,156,952	2,147,635
Total operating expenses	8,062,179	2,354,083	25,487,679	5,310,814
Operating loss	(8,062,179)	(2,354,083)	(25,487,679)	(5,310,814)
Other income, net
Interest income, net	(92,094)		(317,307)
Total other income, net	(92,094)		(317,307)
Net Loss	$ (7,970,085)	$ (2,354,083)	$ (25,170,372)	$ (5,310,814)
Weighted Average Shares Outstanding, basic and diluted	6,324,295	2,564,429	5,910,849	2,560,444
Net loss per share, basic and diluted	$ (1.26)	$ (0.92)	$ (4.26)	$ (2.07)

Statement of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Series 1 Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2018		$ 2,558	$ 9,727,124	$ (4,952,443)	$ 4,777,239
Balance, shares at Dec. 31, 2018		2,558,419
Stock-based compensation - stock options			54,382		54,382
Stock-based compensation - restricted stock units			22,500		22,500
Net loss				(1,528,056)	(1,528,056)
Balance at Mar. 31, 2019		$ 2,558	9,804,006	(6,480,499)	3,326,065
Balance, shares at Mar. 31, 2019		2,558,419
Stock-based compensation - stock options			79,962		79,962
Stock-based compensation - restricted stock units			22,500		22,500
Net loss				(1,428,675)	(1,428,675)
Balance at Jun. 30, 2019		$ 2,558	9,906,468	(7,909,174)	1,999,852
Balance, shares at Jun. 30, 2019		2,558,419
Issuance of common stock in September capital raise		$ 70	499,929		499,999
Issuance of common stock in September capital raise, shares		69,114
Stock-based compensation - stock options			116,640		116,640
Stock-based compensation - restricted stock units			22,500		22,500
Net loss				(2,354,083)	(2,354,083)
Balance at Sep. 30, 2019		$ 2,628	10,545,537	(10,263,257)	284,908
Balance, shares at Sep. 30, 2019		2,627,533
Balance at Dec. 31, 2019		$ 2,628	10,651,073	(12,781,660)	(2,127,959)
Balance, shares at Dec. 31, 2019		2,627,533
Issuance of Series 1 Convertible Preferred in public offering, net of offering costs	$ 4		25,318,702		25,318,706
Issuance of Series 1 Convertible Preferred in public offering, net of offering costs, shares	3,879
Issuance of Common Stock in public offering, net of offering costs		$ 285	1,867,295		1,867,580
Issuance of Common Stock in public offering, net of offering costs, shares		284,875
Issuance of Common Stock in Proteon Private Placement, net of offering costs		$ 1,897	12,411,440		12,413,337
Issuance of Common Stock in Proteon Private Placement, net of offering costs, shares		1,896,888
Reverse business combination		$ 1,033	34,531,594		34,532,627
Reverse business combination, shares		1,033,907
Stock-based compensation - stock options			368,135		368,135
Stock-based compensation - restricted stock units			2,429,672		2,429,672
Net loss				(10,060,257)	(10,060,257)
Balance at Mar. 31, 2020	$ 4	$ 5,843	87,577,911	(22,841,917)	64,741,841
Balance, shares at Mar. 31, 2020	3,879	5,843,203
Balance at Dec. 31, 2019		$ 2,628	10,651,073	(12,781,660)	(2,127,959)
Balance, shares at Dec. 31, 2019		2,627,533
Balance at Sep. 30, 2020	$ 8	$ 10,522	232,567,265	(37,952,032)	194,625,763
Balance, shares at Sep. 30, 2020	8,027	10,521,840
Balance at Mar. 31, 2020	$ 4	$ 5,843	87,577,911	(22,841,917)	64,741,841
Balance, shares at Mar. 31, 2020	3,879	5,843,203
Stock-based compensation - stock options			514,054		514,054
Stock-based compensation - restricted stock units			1,314,668		1,314,668
Net loss				(7,140,030)	(7,140,030)
Balance at Jun. 30, 2020	$ 4	$ 5,843	89,406,633	(29,981,947)	59,430,533
Balance, shares at Jun. 30, 2020	3,879	5,843,203
Issuance of Series 1 Convertible Preferred in public offering, net of offering costs	$ 4		66,283,548		66,283,552
Issuance of Series 1 Convertible Preferred in public offering, net of offering costs, shares	4,148
Settlement of RSUs		$ 21	(21)
Settlement of RSUs, shares		20,870
Exercise of stock options		$ 58	530,243		530,301
Exercise of stock options, shares		57,767
Issuance of Common Stock in public offering, net of offering costs		$ 4,600	73,566,060		73,570,660
Issuance of Common Stock in public offering, net of offering costs, shares		4,600,000
Stock-based compensation - stock options			1,473,629		1,473,629
Stock-based compensation - restricted stock units			1,307,173		1,307,173
Net loss				(7,970,085)	(7,970,085)
Balance at Sep. 30, 2020	$ 8	$ 10,522	$ 232,567,265	$ (37,952,032)	$ 194,625,763
Balance, shares at Sep. 30, 2020	8,027	10,521,840

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net loss	$ (25,170,372)	$ (5,310,814)
Adjustments to reconcile net loss to Net cash used in operating activities:
Stock based compensation	7,407,331	318,484
Amortization of operating lease right-of-use asset	60,639
Depreciation	71,383
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	1,107,236	(54,960)
Other Assets	(41,994)
Accounts payable	1,196,900	(152,239)
Accrued expenses	(1,236,328)	1,277,222
Right-of-use liability	(35,883)
Net cash used in operating activities	(16,641,088)	(3,922,307)
Cash flows from investing activities:
Cash and restricted cash acquired in connection with the reverse merger with ArTara Therapeutics, Inc.	3,718,742
Purchase of property and equipment	(373,340)	(429,138)
Net cash provided by/(used in) investing activities	3,345,402	(429,138)
Cash flows from financing activities:
Proceeds from - ArTara Private Placement, net of offering costs	1,867,580
Proceeds from - Proteon Private Placement, net of offering costs	12,413,337
Proceeds from - Series 1 Convertible Preferred Stock, net of offering costs	25,318,706
Proceeds from September Series 1 Convertible Preferred, net of offering costs	66,283,552
Proceeds from September Common Stock, net of offering costs	73,570,660
Repayments under short-term debt	(1,297,777)
Proceeds from the exercise of stock options	530,301
Proceeds from private placements		499,999
Net cash provided by financing activities	178,686,359	499,999
Net increase/(decrease) in cash and cash equivalents and restricted cash	165,390,673	(3,851,446)
Cash and cash equivalents and restricted cash - beginning of year	564,124	5,549,952
Cash and cash equivalents and restricted cash - end of year	165,954,797	1,698,506
Cash and cash equivalents	165,904,797	1,698,506
Restricted cash	50,000
Cash and cash equivalents and restricted cash	165,954,797	1,698,506
Cash paid for:
Interest	26,353
Income Taxes
Non-cash investing and financing activities:
Deferred offering costs recognized that were previously recorded in accrued expenses	121,712
Purchase of insurance agreement with notes payable	1,668,570
Common stock issued in connection with the reverse merger with ArTara Therapeutics, Inc.	34,532,627
Settlement of RSUs	$ 21

Business, Liquidity and Capital Resources

9 Months Ended

Sep. 30, 2020

Business, Liquidity and Capital Resources [Abstract]

BUSINESS, LIQUIDITY AND CAPITAL RESOURCES

NOTE 1 – BUSINESS, LIQUIDITY AND CAPITAL RESOURCES

Overview

Protara Therapeutics, Inc. and its consolidated subsidiaries ("Protara" or the "Company") is committed to identifying and advancing transformative therapies for the treatment of cancer and rare diseases with significant unmet needs. Protara's portfolio includes two development programs utilizing TARA-002, an investigational cell therapy in development for the treatment of lymphatic malformations (LMs) and non-muscle invasive bladder cancer (NMIBC). The third program in the portfolio is Intravenous (IV) Choline Chloride, an investigational phospholipid substrate replacement therapy initially in development for patients receiving parenteral nutrition (PN) who have intestinal failure associated liver disease (IFALD).

On January 9, 2020, privately-held ArTara Subsidiary, Inc. ("Private ArTara") and Protara Therapeutics, Inc. (formerly ArTara Therapeutics, Inc., formerly Proteon Therapeutics, Inc.) completed the merger and reorganization (the "Merger"), in accordance with the terms of the Agreement and Plan of Merger and Reorganization, dated September 23, 2019, (the "Merger Agreement") by and among Protara Therapeutics, Inc., Private ArTara and REM 1 Acquisition, Inc., a wholly owned subsidiary of Protara Therapeutics, Inc. Thereupon, Merger Sub merged with and into Private ArTara, with Private ArTara surviving as a wholly owned subsidiary of Protara Therapeutics, Inc. The Merger was structured as a reverse merger and Private ArTara was determined to be the accounting acquirer based on the terms of the Merger and other factors, and the post-merger company retained the name ArTara Therapeutics, Inc., which on May 11, 2020 was changed to Protara Therapeutics, Inc.

On January 9, 2020, in connection with and prior to the completion of the Merger, Protara Therapeutics, Inc. effected a 1-for-40 reverse stock split of its common stock (the "Protara Reverse Stock Split"), Private ArTara changed its name from "ArTara Therapeutics, Inc." to "ArTara Subsidiary, Inc.", and ArTara Therapeutics, Inc. changed its name from "Proteon Therapeutics, Inc." to "ArTara Therapeutics, Inc." All share and per share amounts presented in this quarterly report on Form 10-Q have been adjusted to reflect the Protara Reverse Stock Split and the Exchange Ratio. In addition, immediately following the closing of the Private Placements (defined below), all of the outstanding shares of Protara Therapeutics, Inc.'s Series A Preferred Stock were converted into shares of Protara Therapeutics, Inc.'s Common Stock (defined below). Shares of the Company's Common Stock commenced trading on The Nasdaq Capital Market under the new name and ticker symbol "TARA" as of market open on January 10, 2020. See Note 3 for the full discussion regarding the Merger, Exchange Ratio and recapitalization.

Liquidity, Capital Resources and Management Plans

As of September 30, 2020 and December 31, 2019, the Company's cash and cash equivalents on hand was $165,904,797 and $564,124, respectively. The Company has not generated revenues since its inception and has incurred net losses of $25,170,372 and $5,310,814 for the nine months ended September 30, 2020 and 2019, respectively. As of September 30, 2020, the Company had working capital of $163,228,281 and stockholder's equity of $194,625,763. During the nine months ended September 30, 2020, cash flows used in operating activities were $16,641,088, consisting primarily of a net loss of $25,170,372, which includes non-cash stock-based compensation charges of $7,407,331. Since inception, the Company has met its liquidity requirements principally through the sale of its Common Stock and Series 1 Convertible Preferred Stock.

In connection with the Merger, the Company consummated the Private Placements, raising gross proceeds of $42.5 million and proceeds, net of offering costs, of $39.6 million.

On September 22, 2020, the Company entered into underwriting agreements with Cowen and Company, LLC and Guggenheim Securities, LLC, as representatives of several underwriters for separate, concurrent underwritten public offerings of the Company's Common Stock and Series 1 Convertible Preferred Stock. On September 24, 2020, gross and net proceeds from this offering were $147.6 million and $139.9 million, respectively. On October 6, 2020, the underwriters exercised their overallotment option, resulting in the receipt of gross and net proceeds of $11.6 million and $11.1 million, respectively (See Note 7).

The Company is in the business of developing biopharmaceuticals and has no current or near term revenues. The Company has incurred substantial clinical and other costs in its drug development efforts. The Company will need to raise additional capital in order to fully realize management's plans.

The Company believes that its current financial resources, as of the date of the issuance of these consolidated financial statements, are sufficient to satisfy the Company's estimated liquidity needs for at least twelve months from the date of issuance of these unaudited consolidated financial statements.

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and Article 8 Section 3 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. All adjustments (consisting of normal accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2019 and related notes thereto included as Exhibit 99-1, within Form 8-K/A filed on March 20, 2020 with the United States Securities and Exchange Commission ("SEC").

Principles of Consolidation

The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All inter-company balances and transactions have been eliminated in the accompanying unaudited condensed consolidated financial statements.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and also that affect the amount of expenses reported for each period. Actual results could differ from those which result from using such estimates. Management also utilizes various other estimates, including but not limited to income taxes, the valuation of deferred tax assets, determining the fair value of business combination considerations, determining the fair value and evaluation for impairment of goodwill and intangibles, determining the fair value of the Company's Common Stock, and the valuation of securities and assumptions underlying stock-based compensation. The results of any changes in accounting estimates are reflected in the financial statements of the period in which the change becomes evident. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the period that they are determined to be necessary.

Cash and cash equivalents

The Company considers all highly liquid instruments with an original maturity of three months or less when acquired to be cash equivalents. Cash and cash equivalents are held in depository and money market accounts and are reported at fair value.

Restricted Cash

Restricted cash as of September 30, 2020 and December 31, 2019 was $50,000 and $0, respectively. As of September 30, 2020, restricted cash consists of a cash deposit of $50,000 to collateralize a letter of credit obligation.

Property and Equipment

Property and equipment is recorded at cost. Major property additions, replacements, and betterments are capitalized, while maintenance and repairs that do not extend the useful lives of an asset or add new functionality are expensed as incurred. Property and equipment not placed into service is not depreciated until such time that it is placed into service. Depreciation is recorded using the straight-line method over the respective estimated useful lives of the Company's assets.

Goodwill

Goodwill represents the excess of purchase price over the fair value of identifiable net assets of companies acquired. Goodwill and other intangible assets acquired in a business combination and determined to have an indefinite useful life are not amortized, but instead tested for impairment at least annually. An entity has the option to first assess qualitative factors to determine whether events or circumstances lead to a conclusion that is more likely than not that the fair value of a reporting unit is greater than its carrying amount. If an entity determines that qualitative factors indicate that it is more likely than not that the fair value of the entity exceeds the carrying amount, the quantitative evaluation is not necessary. Under the quantitative impairment test, the evaluation of impairment involves comparing the current fair value of each reporting unit to its carrying value, including goodwill.

In the event the estimated fair value of the Company is less than the carrying value, the Company would recognize a goodwill impairment equal to the difference between the carrying value and its fair value, not to exceed the carrying value of goodwill.

On January 9, 2020, in connection with the Merger, the Company separately valued the assets and liabilities acquired, and then determined goodwill as the residual of the purchase price less identified net assets (See Note 3).

Net Loss per Common Share

Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding, plus the impact of common shares, if dilutive, resulting from the exercise of outstanding stock options.

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

	For the Three and Nine Months Ended September 30,
	2020		2019
Stock options		622,339		1,151,730
Restricted stock units		407,325		-
Conversion of Series 1 Convertible Preferred Stock		8,029,039		-
Total potentially dilutive shares		9,058,703		1,151,730

Concentrations of Credit Risk

Financial instruments which potentially subject the Company to concentrations of credit risk consists principally of cash amounts on deposit with financial institutions. At times, the Company's cash in banks is in excess of the Federal Deposit Insurance Corporation insurance limit. The Company has not experienced any loss as a result of these deposits.

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with the Financial Accounting Standards Board ("FASB") Accounting Standards Codification, or ("ASC"), Topic 718, "Compensation - Stock Compensation" ("ASC 718"). ASC 718 establishes accounting for stock-based awards exchanged for employee and consultant services. Under the provisions of ASC 718, stock-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized as expense over the employee's requisite service period (generally the vesting period of the equity grant). The fair value of the Company's stock options are estimated using the Black Scholes option-pricing model with the following assumptions: fair value of the Company's Common Stock, expected volatility, dividend rate, risk free interest rate and the expected life. The Company calculates the expected volatility using the historical volatility for a pool of peer companies over the most recent period equal to the expected term and evaluates the extent to which available information indicate that future volatility may differ from historical volatility. The expected dividend rate is zero as the Company does not expect to pay or declare any cash dividends on its Common Stock. The risk-free rates for the expected terms of the stock options are based on the U.S. Treasury yield curve in effect at the time of the grant. The Company has not experienced significant exercise activity on stock options. Due to the lack of historical information, the Company determined the expected term of its stock option awards issued using the simplified method. The simplified method assumes each vesting tranche of the award has a term equal to the midpoint between when the award vests and when the award expires. Restricted stock awards generally vest over the requisite service periods (vesting on a straight–line basis). The fair value of a stock award is equal to the fair market value of a share of the Company's Common Stock on the grant date. The Company accounts for the forfeiture of equity awards as they occur.

Fair Value Measurements

The carrying amounts of cash and cash equivalents, prepaid expenses, accounts payable and short-term debt approximate their fair values due to the short-term nature of these instruments.

ASC Topic 820 "Fair Value Measurements and Disclosures" provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements).

Fair value is defined as an exit price, representing the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. A three-tier fair value hierarchy is used to prioritize the inputs in measuring fair value as follows:

Level 1 Quoted prices in active markets for identical assets or liabilities.

Level 2 Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable, either directly or indirectly.

Level 3 Significant unobservable inputs that cannot be corroborated by market data.

Research and Development Costs

Research and development costs are expensed as incurred. These expenses include the costs of our proprietary research and development efforts, as well as costs incurred in connection with certain licensing arrangements. Before a compound receives regulatory approval, the Company records upfront and milestone payments made to third parties under licensing arrangements as expense. Upfront payments are recorded when incurred, and milestone payments are recorded when the specific milestone or progress has been achieved. Once a compound receives regulatory approval, the Company records any milestone payments in identifiable intangible assets, less accumulated amortization and, unless the asset is determined to have an indefinite life, the Company amortizes the payments on a straight-line basis over the remaining agreement term or the expected product life cycle, whichever is shorter.

Research and development expenses were $2,796,214 and $1,098,617 for the three months ended September 30, 2020 and 2019, and $8,330,727 and $3,163,179 for the nine months ended September 30, 2020 and 2019, respectively.

Business Combinations

For a business combination, the assets acquired and the liabilities assumed are recognized at the acquisition date, measured at their fair values as of that date. In a business combination achieved in stages, the identifiable assets and liabilities are recognized at their fair values. In a bargain purchase in which the total acquisition-date fair value of the identifiable net assets acquired exceeds the fair value of the consideration transferred plus any non-controlling interest in the acquiree, that excess in fair value is recognized as a gain.

Deferred tax liabilities and assets are recognized for the deferred tax consequences of differences between the tax bases and the recognized values of assets acquired and liabilities assumed in a business combination in accordance with ASC Topic 740-10 "Income Taxes". See Note 3 for the Company's accounting for the reverse merger.

Recent Accounting Pronouncements Adopted

In January 2017, the FASB issued Accounting Standards Update ("ASU") 2017-04 ("ASU 2017-04"), Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. ASU 2017-04 simplifies the subsequent measurement of goodwill by eliminating the second step of the goodwill impairment test. The second step measures a goodwill impairment loss by comparing the implied fair value of a reporting unit's goodwill with the carrying amount of that goodwill. Under ASU 2017-04, a company will record an impairment charge based on the excess of a reporting unit's carrying amount over its fair value. ASU 2017-04 will be applied prospectively and is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. On January 1, 2020, the Company adopted ASU 2017-04. The adoption of this standard did not have a material effect on the Company's financial position, results of operations, or cash flows.

Subsequent Events

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were available to be issued. Other than as described in Note 1, 7 and 11, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

Reverse Merger with Protara and Recapitalization

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

REVERSE MERGER WITH PROTARA AND RECAPITALIZATION

NOTE 3 – REVERSE MERGER WITH PROTARA AND RECAPITALIZATION

On January 9, 2020, in connection with, and prior to the completion of the Merger, Protara Therapeutics, Inc. effected the Protara Reverse Stock Split, which resulted in 557,631 pre-merger shares of Protara Therapeutics, Inc. outstanding.

Under the terms of the Merger Agreement, Protara Therapeutics, Inc. issued shares of its common stock ("Common Stock") to the Company's stockholders, at an exchange ratio of 0.190756 (the "Exchange Ratio") shares of Common Stock, after taking into account the Protara Reverse Stock Split, for each share of Private ArTara common stock outstanding immediately prior to the Merger. Protara Therapeutics, Inc. assumed all of the unvested Private ArTara restricted stock awards, which were exchanged for a number of shares of Common Stock equal to 0.190756 multiplied by the number of shares of Private ArTara common stock previously represented by such Private ArTara restricted stock awards and unvested to the same extent as such Private ArTara restricted stock awards and subject to the same restrictions as such Private ArTara restricted stock awards. The effect of the Exchange Ratio resulted in the shareholders of the Company being issued 2,627,533 shares of Protara Common Stock.

Protara Therapeutics, Inc. assumed all of the outstanding and unexercised stock options of Private ArTara, with such stock options now representing the right to purchase a number of shares of Common Stock equal to 0.190756 multiplied by the number of shares of Private ArTara common stock previously represented by such Private ArTara stock options. As a result, 219,699 shares were assumed under Private ArTara's 2017 Equity Incentive Plan. No additional awards will be made under the 2017 Equity Incentive Plan. On January 1, 2020, Protara Therapeutics, Inc. amended its Amended and Restated 2014 Equity Incentive Plan (the "2014 Equity Incentive Plan") to increase the number of shares of stock available for issuance under the 2014 Equity Incentive Plan to 1,048,300 shares and made conforming changes and updates pursuant to Section 162(m) of the Code.

Concurrently with the execution of the Merger Agreement, certain institutional investors (together, the "Investors") entered into a subscription agreement (as amended on November 19, 2019, the "Subscription Agreement") with Protara Therapeutics, Inc. and Private ArTara, pursuant to which (A) Protara Therapeutics, Inc. issued in a private placement immediately after the Merger (the "Proteon Private Placement") (i) 3,879.356 of shares of Protara Therapeutics, Inc.'s Series 1 Convertible Non-Voting Preferred Stock at a purchase price of approximately $7,011.47 per share for gross proceeds of $27,199,988 and proceeds, net of issuance costs, of $25,318,706, (ii) 1,896,888 shares of Protara Therapeutics, Inc.'s Common Stock at a purchase price of approximately $7.01 per share for gross proceeds of $13,299,974 and proceeds, net of issuance costs, of $12,413,337 and (B) Private ArTara issued in a private placement immediately prior to the Merger (the "ArTara Private Placement") 284,875 shares of Private ArTara common stock (post-Exchange Ratio basis) at a purchase price of approximately $7.01 per share (post-Exchange Ratio basis) (together with the Proteon Private Placement, the "Private Placements") for gross proceeds of $1,999,999 and proceeds, net of issuance costs, of $1,867,580. The shares issued in the Proteon Private Placement were registered for resale on a registration statement on Form S-3 filed and declared effective by the U.S. Securities and Exchange Commission (the "SEC") on January 30, 2020.

Immediately following the closing of the Proteon Private Placement, 18,954 shares of Protara Therapeutics, Inc.'s Series A Convertible Preferred Stock outstanding were converted into 476,276 shares of Protara Therapeutics, Inc.'s Common Stock. These shares, combined with the 557,631 pre-merger shares of Protara Therapeutics, Inc. outstanding after the Protara Reverse Stock Split, resulted in an aggregate of 1,033,907 shares of Common Stock issued in connection with the Merger.

Immediately after the consummation of the Merger and prior to the consummation of the Proteon Private Placement, the former stockholders and option holders of Private ArTara owned, or held rights to acquire, approximately 75.2% of the fully-diluted Common Stock of Protara, with Protara Therapeutics, Inc.'s stockholders and option holders immediately prior to the Merger owning approximately 24.8% of the fully-diluted Common Stock of Protara.

Based on the terms of the Merger, the transaction was treated as a reverse merger of Protara Therapeutics, Inc. by Private ArTara. The Merger was accounted for using acquisition accounting under ASC Topic 805 "Business Combinations". Under acquisition accounting, the assets and liabilities (including executory contracts, commitments and other obligations) of Protara Therapeutics, Inc. as of the effective time of the Merger were recorded at their respective fair values and added to those of Private ArTara. Any excess of purchase price consideration over the fair values of the identifiable net assets is recorded as goodwill.

The following details the preliminary allocation of the purchase price consideration:

Cash	$	3,668,742
Restricted cash		50,000
Prepaid expenses and other current assets		1,739,270
Goodwill		29,367,213
Accrued expenses		(292,598	)
Total purchase price consideration	$	34,532,627

The total fair value of the net assets of Protara Therapeutics Inc. was determined by the Company to be $34,532,627 based on the consideration transferred. The total consideration was based on the enterprise value of Protara Therapeutics Inc. as of January 9, 2020, based upon the number of common shares deemed outstanding, multiplied by the closing stock price on January 9, 2020.

Of the amount of goodwill acquired in the reverse merger, no portion is deductible for tax purposes.

The primary reasons for the reverse merger: the increased access to sources of capital and a broader range of investors to support the clinical development of the Company's product candidates, the potential to provide current stockholders with greater liquidity by owning stock in a public company, the potential for a more cost-effective means to access capital and the registration of Protara Common Stock issued to Private ArTara's stockholders. In addition, Protara assumed the existing 2014 Equity Incentive Plan (the "2014 Plan"), and all outstanding stock options thereunder. In addition, no additional shares may be issued under the 2017 Equity Incentive Plan (See Note 8).

The following presents the unaudited pro forma combined financial information as if the reverse merger had occurred as of January 1, 2019. Since the merger was consummated on January 9, 2020, the results of the merger are fully incorporated into the condensed consolidated financial information for the three months ended September 30, 2020.

	For the Three Months Ended September 30,			For the Nine Months Ended September 30,
	2019			2020			2019
Net loss	$	(3,890,083	)	$	(24,945,372	)	$	(18,692,814	)
Pro forma loss per common share, basic and diluted	$	(0.67	)	$	(4.22	)	$	(3.24	)
Pro forma weighted average number of common shares outstanding, basic and diluted		5,780,199			5,910,849			5,776,114

The pro forma combined results of operations are not necessarily indicative of the results of operations that actually would have occurred had the reverse merger been completed as of January 1, 2019, nor are they necessarily indicative of future consolidated results.

Accrued Expenses

9 Months Ended

Sep. 30, 2020

Payables and Accruals [Abstract]

ACCRUED EXPENSES

NOTE 4 – ACCRUED EXPENSES

Included in the Company's accrued expenses within the condensed consolidated financial statements are:

	As of
	September 30, 2020		December 31, 2019
Legal fees	$	356,422	$	1,572,554
Research and development		152,071		1,050,500
Bonus		715,500		-
Other		345,355		11,736
Total	$	1,569,348	$	2,634,790

Short-term Debt

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

SHORT-TERM DEBT

NOTE 5 – SHORT-TERM DEBT

Financing Agreement

On February 19, 2020, the Company entered into a nine month financing agreement with AFCO Credit Corporation for its directors and officers ("D&O") liability insurance in the amount of $2,224,760. The Company made a down payment of $556,190, leaving a principal balance of $1,668,570. The financing bears interest at a rate of 4.25% per annum, and will be repaid in monthly installments of $189,161, which includes both principal and interest. As of September 30, 2020, the balance under this debt was $370,793.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 6 – COMMITMENTS AND CONTINGENCIES

Lease Agreements

The Company has entered into operating leases for office and laboratory space. On January 1, 2019 ("Effective Date"), the Company adopted ASC Topic 842, Leases ("ASC 842"), which increases transparency and comparability by recognizing a lessee's rights and obligations resulting from leases by recording them on the balance sheet as lease assets and lease liabilities. The new guidance requires the recognition of the right-of-use ("ROU") assets and related operating lease liabilities on the balance sheet. The Company adopted the new guidance using the modified retrospective approach on January 1, 2019.

The adoption of ASC 842 on January 1, 2019 did not result in the recognition of ROU assets as the Company did not have any leases at that time with a term of twelve months or more. However, on January 9, 2020, subsequent to the Merger and Private Placements, it became reasonably certain that the Company would maintain its quarter-to-quarter lease with its contract development and manufacturing organization for its manufacturing space for an expected term of approximately eight years, therefore resulting in the recognition of an ROU asset and related operating lease liability.

On July 1, 2020, the Company began a quarter-to-quarter lease of a development laboratory space for an expected term of approximately eight years with a contract development and manufacturing organization, therefore resulting in the recognition of an additional ROU asset and related operating lease liability.

For contracts entered into on or after the Effective Date, at the inception of a contract, the Company will assess whether the contract is, or contains, a lease. The Company's assessment is based on: (i) whether the contract involves the use of a distinct identified asset, (ii) whether the Company obtained the right to substantially all the economic benefit from the use of the asset throughout the period, and (iii) whether the Company has the right to direct the use of the asset. Leases entered into prior to January 1, 2019, which were accounted for under ASC 840, Leases, were not reassessed for classification.

For operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments. The Company generally uses its incremental borrowing rate as the discount rate for leases, unless an interest rate is implicitly stated in the lease. The present value of the lease payments is calculated using the incremental borrowing rate for operating leases, which was determined using a rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. The lease term for the Company's lease includes the noncancellable period of the lease plus any additional periods covered by either a Company option to extend the lease that the Company is reasonably certain to exercise, or an option to extend the lease controlled by the lessor. ROU assets, once recorded, are reviewed for impairment.

Lease expense for operating leases consists of the lease payments plus any initial direct costs and is recognized on a straight-line basis over the lease term.

Balance sheet information related to our leases is presented below:

		As of
Operating leases:	Balance Sheet Location	September 30, 2020		January 9, 2020		December 31, 2019
Right-of-use assets	Other assets	$	404,044	$	403,161	$	-
Right-of-use liability, current	Right-of-use liability, current		34,079		9,195		-
Right-of-use lease liability, long-term	Right-of-use lease liability, long-term		394,721		393,966		-

The following provides details of the Company's lease expense:

Lease cost	For the Three Months Ended September 30, 2020		For the Nine Months Ended September 30, 2020
Operating lease cost	$	21,147	$	60,639
Short-term lease cost		2,793		151,332
Total	$	23,940	$	211,971

Other information related to leases is presented below:

	As of September 30, 2020
Other information
Weighted-average discount rate – operating lease		12.00	%
Weighted-average remaining lease term – operating lease (in months)		91

On January 9, 2020, subsequent to the Merger and Private Placements, it became reasonably certain that the Company would maintain its quarter-to-quarter lease for its manufacturing space for a term of approximately eight years and on July 1, 2020, its quarter-to-quarter lease for its development lab began for a term of approximately eight years.

As of September 30, 2020, the expected annual minimum lease payments of our operating lease liabilities and other short-term leases were as follows:

For Years Ending December 31,	Operating lease
2020 (excluding the nine months ended September 30, 2020)	$	82,911
2021		145,176
2022		84,402
2023		86,088
2024		87,810
Thereafter		297,618
Total future minimum lease payments, undiscounted		784,005
Less: Imputed interest for leases in excess of one year		230,345
Present value of future minimum lease payments	$	553,660
Present value of future minimum lease payments for our operating lease liabilities	$	428,800
Present value of future minimum lease payments, short-term leases	$	124,860

Employment Agreements

Executive Employment Agreements

In connection with the consummation of the Merger, Jesse Shefferman, the Company's Chief Executive Officer, had his base salary increased from $365,000 to $510,000 and Jacqueline Zummo, the Company's Head of Operations and Medical Affairs, had her base salary increased from $305,000 to $325,000. The Company also entered into an employment agreement with Blaine Davis to become the Company's Chief Financial Officer on January 31, 2020, effective as of February 11, 2020, for a base salary of $385,000, and with Julio Casoy to become the Company's Chief Medical Officer, on February 6, 2020, for a base salary of $400,000. During the nine months ended September 30, 2020, Mr. Shefferman, Dr. Zummo and Dr. Casoy received bonus payments of $259,688, $95,313 and $115,500, respectively, which were included in research and development expenses of $210,813 and in general and administrative expenses of $259,688, in the three months ended March 31, 2020.

Temporary Employment Agreement

On December 6, 2018, the Company entered into a temporary employment agreement (the "Temporary Employment Agreement") with an individual who assisted with certain corporate development activities. Pursuant to the Temporary Employment Agreement, the individual was entitled to receive an annual base salary of $90,000. In addition, the individual would be entitled to a performance-based success fee which would be adjusted based on amounts of funding achieved and timing of when such funding was received. On January 9, 2020, the Company's capital raise triggered a performance-based compensation obligation and accordingly this individual was paid $462,500, which was included in general and administrative expenses within the Company's unaudited condensed consolidated statements of operations for the nine months ended September 30, 2020.

Departure of Executive

The Company and Dr. Casoy entered into a Separation Agreement and Release (the "Separation Agreement"), effective August 3, 2020, whereupon, Dr. Casoy would no longer be employed by the Company as Chief Medical Officer. Pursuant to the Separation Agreement, in consideration for a general release of all claims against the Company and certain representations, warranties, covenants and agreements, Dr. Casoy received (i) his base salary for a period of nine months paid in a lump sum, (ii) a one-time lump sum payment equal to nine months of his bonus at target, (iii) reimbursement of all business expenses for which he was entitled, (iv) reimbursement of COBRA premium costs for nine months, or until he has secured other employment, whichever comes first and (v) pro-rata vesting of his outstanding equity award given that he was not employed through the one-year anniversary of the applicable grant date of such outstanding equity award (See Note 8).

Product License and Clinical Services Agreements

Alan L. Buchman and Choline License Agreement

On September 27, 2017, the Company entered into a license agreement (the "Choline License Agreement") with Alan L. Buchman ("Dr. Buchman"). Pursuant to the Choline License Agreement, the Company received from Dr. Buchman the license rights in and to the "Licensed Orphan Designations", the "Licensed IND", "Existing Study Data" and the "Licensed Know-How" for one or more of the licensed indications. In consideration for the rights and licenses granted, Dr. Buchman received a payment of $50,000 on October 2, 2017, and license payments of $50,000 and $50,000 on December 12, 2018 and January 8, 2019, respectively, upon the Company meeting the criteria for certain meetings to be held with the Federal Drug Administration (the "FDA"). Pursuant to the Choline License Agreement, effective October 2017, the Company incurred a fixed obligation to Dr. Buchman of $400,000 (the "Choline License Fee"). Upon the Company receiving $5,000,000 in cumulative funding (as defined), Dr. Buchman would be entitled to receive payment of the Choline License Fee as a lump sum if the funds are received by April 15, 2019 and the Choline License Fee shall be increased to a one-time payment of $600,000 if the funds are received by October 15, 2019. On October 2, 2019, the Company made a payment of $50,000 to Dr. Buchman. On January 22, 2020, in connection with the closing of the Merger and concurrent financing, Dr. Buchman was paid $550,000 which was included in accrued expenses as of December 31, 2019.

During the three months ended September 30, 2020 and 2019, the Company recorded Research and Development expense of $0 and $0, respectively, and during the nine months ended September 30, 2020 and 2019, the Company recorded Research and Development expense of $0 and $200,000, respectively, for expenditures to Dr. Buchman in connection with obligations under the Choline License Agreement.

The Feinstein Institute for Medical Research

On December 22, 2017, the Company entered into an agreement (the "Feinstein Agreement") with The Feinstein Institute for Medical Research (the "Feinstein Institute"), a not-for-profit corporation with 50 research labs and 2,500 clinical research studies. Pursuant to the Feinstein Agreement, the Company acquired an exclusive license relating to treatment of fatty liver diseases in humans for which Choline may be an effective therapeutic. In consideration for the rights and license granted, the Feinstein Institute would receive a royalty of one percent (1%) of the first one hundred million dollars ($100,000,000) of net sales of IV Choline Chloride and a royalty of one and one-half percent (1.5%) of all net sales thereafter. In addition, the Company would pay the Feinstein Institute twelve and one-half percent (12.5%) of net proceeds resulting from agreements entered within 2 years from the effective date, and seven and one-half percent (7.5%) of net proceeds resulting from agreements entered into thereafter. Pursuant to the Feinstein Agreement additional payments would be due to the Feinstein Institute for license maintenance payments and for meeting milestone events. On January 9, 2020, the Company's raising of over $5,000,000 triggered a financing milestone obligation and accordingly the Feinstein Institute was paid $100,000. Pursuant to the Feinstein Agreement, upon the achievement of certain future new drug application milestones, the Company would be obligated to remit an aggregate of $275,000.

During the three months ended September 30, 2020 and 2019, the Company recorded Research and Development expense of $0 and $0, respectively, and during the nine months ended September 30, 2020 and 2019, the Company recorded Research and Development expense of $100,000 and $0, respectively, in connection with the Feinstein Agreement.

The University of Iowa

On November 28, 2018, the Company entered into a sponsored research and license agreement (the "Iowa Agreement") with the University of Iowa. Pursuant to the Iowa Agreement, the University of Iowa, which is engaged in clinical research to improve the diagnosis and treatment of lymphangioma using a pharmaceutical product (OK-432), would assist the Company in collecting case reports, forms, source data, and safety data available to the University of Iowa in support of the development of the Company's proprietary Streptococcus Pyogenes investigational product, TARA-002 for the LMs indication. During the term of the services, the Company would pay the University of Iowa thirty thousand dollars ($30,000) per year to fund the project, plus additional amounts upon the realization of certain milestones. More specifically, upon forty-five (45) days of an approval of the TARA-002 by the FDA, the Company would pay up to $1,750,000 to the University of Iowa for meeting their milestones. Furthermore, the Company would pay the University of Iowa royalties of up to 1.75% for net sales ranging from $0 - $25,000,000, 2.25% for net sales ranging from $25,000,000+ to $50,000,000, and 2.50% for net sales of $50,000,000+. Pursuant to the Iowa Agreement, the University of Iowa would be entitled to additional payments for annual net sales payments as per the following milestones. For annual net sales of product up to $25,000,000; $62,500; for annual net sales of product of up to $50,000,000; $62,500; and for annual net sales of product of up to $100,000,000; $125,000.

During the three months ended September 30, 2020 and 2019, the Company recorded Research and Development expense of $7,500 and $7,500, respectively, and during the nine months ended September 30, 2020 and 2019, the Company recorded Research and Development expense of $22,500 and $22,500, respectively, in connection with the Iowa Agreement.

Chugai Pharmaceutical Co., LTD

On June 17, 2019, the Company entered into an agreement (the "Chugai Pharmaceutical Agreement") with Chugai Pharmaceutical Co., LTD ("Chugai"), a drug manufacturing firm with offices and operations in Japan. Pursuant to the Chugai Pharmaceutical Agreement, Chugai would help the Company in its goals to develop and commercialize a therapeutic product (the "New Product") which is comparable to the Chugai existing therapeutic product (the "Existing Product"). In addition, the Company would be entitled to the use of Chugai materials and technical support as necessary. On July 14, 2020, the Company and Chugai entered into an amendment (the "Chugai Amendment") to the Chugai Pharmaceutical Agreement. The Chugai Amendment is effective as of June 30, 2020. The Chugai Amendment extended the date through which Chugai will exclusively provide the Existing Product and materials to the Company from June 30, 2020 to June 30, 2021, extended the date through which Chugai will not provide materials or technical support to any third party for the purpose of development and commercialization in a given area from the fifth anniversary to the eleventh anniversary of the original effective date and provides that, in addition to the designated fee provided upon the initial indication approval in the Chugai Pharmaceutical Agreement, the Company will pay Chugai a designated fee for each additional indication approval. The Company is obligated to Chugai for certain payments upon the completion of agreed upon milestones. As of December 31, 2019, Chugai fulfilled a performance obligation upon which the Company recorded an obligation of $500,000, which the Company paid on July 27, 2020.

During the three months ended September 30, 2020 and 2019, the Company recorded Research and Development expense of $0 and $500,000, respectively, and during the nine months ended September 30, 2020 and 2019, the Company recorded Research and Development expense of $0 and $500,000, respectively, in connection with the Chugai Agreement, as amended.

Johns Hopkins University

In February 2002, Proteon entered into an agreement to license certain intellectual property in connection with vonapanitase with Johns Hopkins University. The agreement calls for payments to be made by the Company upon the commencement of vonapanitase related product sales, in the form of a royalty of 2.5% on net sales of the product. As of September 30, 2020, the Company has not commenced vonapanitase product sales and therefore has recognized no royalties on product sales.

Litigation

From time to time, Protara may be subject to various legal proceedings and claims that arise in the ordinary course of its business activities.

Between November 15 and December 23, 2019, four lawsuits were filed in federal court against Proteon, ArTara, Merger Sub and the individual members of the Proteon Board (captioned Patrick Plumley v. Proteon Therapeutics, Inc., et al., Case No. 1:19-cv-02143-UNA (D. Del. filed 11/15/19)); Jeffrey Teow v. Proteon Therapeutics, Inc., et al., Case No. 1:19-cv-06745 (E.D.N.Y., filed 11/30/19); Neil Lanteigne v. Proteon Therapeutics, et al., Case No. 1:19-cv-12436 (D. Mass., filed 12/03/19); Stephen Wagner v. Proteon Therapeutics, Inc., et al., Case No. 1:19-cv-02343 (D. Del., filed 12/23/19). The Plumley complaint was brought as a purported class action lawsuit. All four lawsuits alleged that the definitive proxy statement in the preliminary registration statement on Form S-4 filed by Proteon on November 7, 2019 with the SEC in connection with the proposed Merger (the "Proxy Statement") omitted material information with respect to the transactions contemplated by the Merger Agreement, rendering it false and misleading in violation of Sections 14(a) (and Rule 14a-9 promulgated thereunder) and 20(a) of the Exchange Act. The plaintiffs in each of the four lawsuits sought, among other things, injunctive relief, rescission, declaratory relief and unspecified monetary damages. On December 31, 2019, Proteon filed an amendment to the Proxy Statement on Form 8-K, which contained certain supplemental disclosures intended to moot the plaintiffs' disclosure claims. On January 9, 2020, Proteon held a special meeting of its stockholders, at which the Company's stockholders approved the Merger. On January 27, 2020, plaintiff in the Lanteigne action voluntarily dismissed his case. On February 3, 2020, plaintiff in the Plumley action voluntarily dismissed his case. On February 7, 2020, plaintiff in the Teow action voluntarily dismissed his case. On February 10, 2020, plaintiff in the Wagner action dismissed his case. Thereafter, in connection with the supplemental disclosures that were filed by the Company to moot plaintiffs' claims in these actions, counsel for plaintiffs demanded an award of attorney's fees, which the parties resolved in July 2020.

Other

The Company is involved in various claims and legal actions arising in the ordinary course of business. Management is of the opinion that the ultimate outcome of these matters would not have a material adverse impact on the financial position of the Company or the results of its operations.

In the normal course of business, the Company enters into contracts in which it makes representations and warranties regarding the performance of its services and that its services will not infringe on third party intellectual rights. There have been no significant events related to such representations and warranties in which the Company believes the outcome could result in losses or penalties in the future.

Stockholders' Equity

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 7 – STOCKHOLDERS' EQUITY

Authorized Common Stock

As of September 30, 2020 and December 31, 2019, the Company has 100,000,000 shares of Common Stock authorized for issuance, $0.001 par value per share, of which 10,521,840 and 2,627,533 shares were issued and outstanding, respectively.

The holders of the Company's Common Stock are entitled to one vote per share.

Authorized Series 1 Convertible Preferred Stock

In connection with the Preferred Offering (defined below) on September 22, 2020, the Company filed a Certificate of Amendment to the Certificate of Designation of Preferences, Rights and Limitations of Series 1 Convertible Preferred Stock of the Company (the "Amendment") with the State of Delaware to increase the authorized number of shares of the Company's Series 1 Convertible Preferred Stock that may be issued from 3,880 to 8,028. The Amendment was approved by a committee of the Company's Board of Directors and the requisite holders of outstanding shares of Series 1 Convertible Preferred Stock. No approval of the holders of the Company's Common Stock was required to effectuate the Amendment.

As of September 30, 2020 and December 31, 2019, the Company has 10,000,000 shares of preferred stock authorized for issuance, $0.001 par value per share of which 8,028 shares of Series 1 Convertible Preferred Stock are authorized for issuance, $0.001 par value per share, and 8,027 and 0 shares were issued and outstanding, respectively.

Description of Series 1 Convertible Preferred Stock

Each share of Series 1 Convertible Preferred Stock is convertible into 1,000 shares of Common Stock, at a conversion price initially equal to approximately $7.01 per common share, subject to adjustment for any stock splits, stock dividends and similar events, at any time at the option of the holder, provided that any conversion of Series 1 Convertible Preferred Stock by a holder into shares of Common Stock would be prohibited if, as a result of such conversion, the holder, together with its affiliates and any other person or entity whose beneficial ownership of the Common Stock would be aggregated with such holder's for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, would beneficially own more than 9.99% of the total number of shares Common Stock issued and outstanding after giving effect to such conversion. Upon written notice to the Company, the holder may from time to time increase or decrease such limitation to any other percentage not in excess of 19.99% specified in such notice. Each share of Series 1 Convertible Preferred Stock is entitled to a preference of $10.00 per share upon liquidation of the Company, and thereafter will share ratably in any distributions or payments on an as-converted basis with the holders of Common Stock. In addition, upon the occurrence of certain transactions that involve the merger or consolidation of the Company, an exchange or tender offer, a sale of all or substantially all of the assets of the Company or a reclassification of its Common Stock, each share of Series 1 Convertible Preferred Stock will be convertible into the kind and amount of securities, cash and/or other property that the holder of a number of shares of Common Stock issuable upon conversion of one share of Series 1 Convertible Preferred Stock would receive in connection with such transaction. The Company's Series 1 Convertible Preferred Stock are non-voting.

The terms of the Series 1 Convertible Preferred Stock provide that, in the event of a fundamental transaction (as such term is described in the certificate of designation of preferences, rights and limitations of series 1 convertible non-voting preferred stock), each share of Series 1 Convertible Preferred Stock outstanding shall thereafter be convertible into the kind and amount of securities, cash and/or other property which a holder of the number of shares of Common Stock of the Company issuable upon conversion of one share of Series 1 Convertible Preferred Stock immediately prior to such fundamental transaction would have been entitled to receive pursuant to such fundamental transaction, provided that, if the value of the aggregate of such securities, cash and/or other property the which the holder of one share of Series 1 Convertible Preferred Stock would be entitled to upon conversion thereof would be less than the stated value, then each outstanding share of Series 1 Convertible Preferred Stock shall instead be convertible into such kind of securities, cash and/or other property with an aggregate value equal to the stated value.

Underwritten Public Offering

On September 24, 2020, pursuant to an underwriting agreement (dated September 22, 2020), the Company issued and sold in an underwritten public offering (the "Common Offering") an aggregate of 4,600,000 shares of its Common Stock at an offering price of $16.87 per share, for gross and net proceeds of approximately $77.6 million and $73.6 million, respectively. The underwriters were granted an option to purchase up to 690,000 additional shares of Common Stock at the public offering price, less the underwriting discount. This option was exercisable for a period of 30 days. On October 6, 2020, the underwriters exercised their overallotment option in full, purchasing an additional 690,000 shares, resulting in the receipt of gross and net proceeds of $11.6 million and $11.1 million, respectively.

On September 24, 2020, pursuant to an underwriting agreement (dated September 22, 2020), the Company issued and sold in an underwritten public offering (the "Preferred Offering") an aggregate of 4,148 shares of its Series 1 Convertible Preferred Stock at an offering price of $16,873.54 per share, for gross and net proceeds of approximately $70.0 million and $66.3 million, respectively.

The Common Offering and the Preferred Offering were made pursuant to the Company's registration statement on Form S-3, declared effective by the Securities and Exchange Commission on May 26, 2020 (Registration No. 333-238273).

Stock-Based Compensation

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

NOTE 8 – STOCK-BASED COMPENSATION

2020 Inducement Plan

On March 26, 2020, the Compensation Committee of the Board of Directors (the "Compensation Committee") approved the ArTara Therapeutics, Inc. Inducement Plan (the "2020 Inducement Plan") in order to award nonstatutory stock options, restricted stock awards, restricted stock unit awards and other stock-based awards to persons not previously an employee or director of the Company, or following a bona fide period of non-employment, as an inducement material to such persons entering into employment with the Company.

The 2020 Inducement Plan provides for a total of 600,000 shares for the issuance of the Company's Common Stock. The Compensation Committee also adopted a form of stock option grant notice and stock option agreement and forms of restricted stock unit grant notice and restricted stock unit agreement for use with the Inducement Plan.

As of September 30, 2020, 507,350 shares remain available to be issued under the 2020 Inducement Plan.

2017 Equity Incentive Plan

On August 10, 2017, Private ArTara, its Board of Directors of the Company and its shareholders approved the ArTara Therapeutics, Inc. 2017 Equity Incentive Plan (the "2017 Equity Incentive Plan") to enable Private ArTara and its affiliates to recruit and retain highly qualified personnel and to incentivize personnel for productivity and growth.

The 2017 Equity Incentive Plan provided for the grant of a total of 2,000,000 shares for the issuance of stock options, stock appreciation rights, restricted stock and restricted stock units to among others, members of the Board of Directors, employees, consultants and service providers to the Company and its affiliates. As of January 9, 2020, in connection with the Merger, no additional awards will be made under the 2017 Equity Incentive Plan.

2014 Equity Incentive Plan

On October 3, 2014, the stockholders approved the 2014 Plan.

On June 20, 2017, the Company's Board of Directors amended the 2014 Plan (the "Amended 2014 Plan"). On July 31, 2017, the stockholders approved this amendment.

The Amended 2014 Plan provides for the grant of incentive and non-statutory stock options, stock appreciation rights, restricted stock and stock unit awards, performance units, stock grants and qualified performance-based awards. The 2014 Plan provides that the number of shares reserved and available for issuance under the 2014 Plan will automatically increase each January 1, beginning January 1, 2015 by four percent of the outstanding shares of Common Stock on the immediately preceding December 31 or such lesser number of shares as determined by the Company's Board of Directors prior to each such January 1st. The Amended 2014 Plan clarifies that the number of shares for purposes of calculating the evergreen feature includes the number of shares of Common Stock issuable upon conversion of any security that the Company may issue that is convertible into or exchangeable for Common Stock, including, but not limited to, preferred stock or warrants. Pursuant to a special meeting of the Proteon stockholders held on January 9, 2020, the number of shares available for issuance under the Amended 2014 Plan increased by 900,002 shares from 148,298 shares to 1,048,300 shares on January 1, 2020. As of September 30, 2020, 232,850 shares remain available to be issued under the Amended 2014 Plan.

Terms of the stock awards, including vesting requirements, are determined by the Board of Directors, subject to the provisions of the plans. Certain awards provide for accelerated vesting if there is a change in control as defined in the plans.

2014 Employee Stock Purchase Plan

On October 3, 2014, the stockholders approved the 2014 Employee Stock Purchase Plan (the "2014 ESPP"). The 2014 ESPP initially authorized the issuance of up to 3,513 shares of Common Stock. The number of shares increases each January 1, commencing on January 1, 2015 and ending on (and including) January 1, 2024, by an amount equal to the lesser of one percent of the outstanding shares as of the end of the immediately preceding fiscal year, 7,025 shares or any lower amount determined by the Company's Board of Directors prior to each such January 1st. As of September 30, 2020, the authorized number of shares under the 2014 ESPP is 18,012 and the number of shares available for issuance is 13,340. During the nine months ended September 30, 2020 and 2019, no shares were issued under the 2014 ESPP.

Restricted Stock Units

Awards to Directors

The following RSUs were granted pursuant to the Amended 2014 Plan. Settlement for the RSUs is deferred until the earliest to occur of (i) the director's termination of service, (ii) death, (iii) disability and (iv) a change in control of the Company. In the event of a change in control of the Company, the RSUs will vest in full.

On January 10, 2020, the Board of Directors granted an aggregate of 254,000 RSUs to directors of the Company. These RSUs vest 12.5% on the date of grant and in twenty-one equal monthly installments thereafter. The grant date fair value of these RSUs was $7,620,000.

On January 10, 2020, the Board of Directors granted an aggregate of 62,000 RSUs to directors of the Company. These RSUs vest 50% on the one year anniversary of the grant date and the remainder vest in 12 equal monthly installments thereafter. The grant date fair value of these RSUs was $1,860,000.

Awards to Others

On January 10, 2020, the Board of Directors granted an aggregate of 91,000 RSUs to officers of the Company. These RSUs vest in four equal installments beginning on the first anniversary of the date of grant. The grant date fair value of these RSUs was $2,730,000.

On January 10, 2020, the Board of Directors granted an aggregate of 14,825 RSUs to employees of the Company. These RSUs vest in four equal annual installments beginning on the first anniversary of the date of grant. The grant date fair value of these RSUs was $444,750.

On January 10, 2020, the Board of Directors granted 50,000 RSUs to the Chief Executive Officer of the Company. These RSUs vest in four equal annual installments beginning on the first anniversary of the date of grant. The grant date fair value of these RSUs was $1,500,000.

On July 1, 2020, the Compensation Committee of the Company granted 7,500 RSUs to a new hire of the Company under the 2014 Equity Incentive Plan. These RSUs will vest 25% on the one, two, three and four year anniversary of the date of grant. The grant date fair value of these RSUs was $211,500.

Following is a summary of restricted stock unit activities for the nine months ended September 30, 2020:

	Restricted Stock Units			Weighted Average Grant Date Fair Value
Non-vested 1/1/2020		-		$	-
Granted		479,325			29.97
Forfeited		(56,375	)		30.00
Vested		(119,896	)		30.00
Non-vested 9/30/2020		303,054		$	29.96

The fair value of restricted stock units is amortized on a straight line basis over the requisite service periods of the respective awards. As of September 30, 2020, the unamortized value of RSUs was $7,604,720. As of September 30, 2020, the weighted average remaining amortization period was 1.96 years. As of September 30, 2020 and 2019, 104,271 and 0 RSUs, respectively, have vested that have not yet been settled into shares of the Company's Common Stock.

On July 10, 2020, the Company issued 5,245 shares of Common Stock from the settlement of RSUs.

On July 29, 2020, the Company issued 9,938 shares of Common Stock from the settlement of RSUs.

On August 8, 2020, the Company issued 5,687 shares of Common Stock from the settlement of RSUs.

Restricted Stock Units Modification

On July 23, 2020, in connection with Dr. Casoy's separation, the Company agreed to accelerate the vesting of 5,687 RSUs. The Company recorded a charge of $151,843 during the three months ended September 30, 2020 to research and development expense within the Company's condensed consolidated statements of operations in connection with the modification of this award (See Note 6).

Stock Option Grants

During the first quarter of 2020, the Board of Directors granted stock options to purchase an aggregate of 205,250 shares of the Company's Common Stock. These options had an exercise price ranging from $30.00 to $37.30. The options expire ten years from their respective dates of grant and vest 25% on the one year anniversary of the grant date and the remainder of the underlying shares vest in thirty-six equal monthly installments thereafter. The grant date fair value of these options was $5,453,691.

During the second quarter of 2020, the Board of Directors granted stock options to purchase an aggregate of 113,450 shares of the Company's Common Stock. These options had an exercise price ranging from $24.02 to $51.12. The options expire ten years from their respective dates of grant. Options representing the purchase of 59,450 shares of the Company's Common Stock vest 25% on the one year anniversary of the date of grant and the remainder of the underlying shares vest in thirty-six equal monthly installments thereafter. Options representing the purchase of 54,000 shares of the Company's Common Stock vest monthly over one year. The grant date fair value of these options was $2,547,829.

During the third quarter of 2020, the Board of Directors granted stock options to purchase an aggregate of 194,700 shares of the Company's Common Stock. These options had an exercise price ranging from $20.51 to $28.20. The options expire ten years from their respective dates of grant. Options representing the purchase of 168,450 shares of the Company's Common Stock vest 25% on the one year anniversary of the date of grant and the remainder of the underlying shares vest in thirty-six equal monthly installments thereafter. Options representing the purchase of 8,250 shares of the Company's Common Stock vest monthly over one year. Options representing the purchase of 18,000 shares of the Company's Common Stock vest monthly over three years. The grant date fair value of these options was $3,922,772.

Stock Option Modifications

Effective July 20, 2020, Scott Braunstein, M.D. notified the Company of his resignation from the Company's Board of Directors. In connection with Dr. Braunstein's resignation, the Compensation Committee approved the accelerated vesting of all stock options issued to Dr. Braunstein prior to the Merger, and to extend the post-termination exercise period of vested options to 12 months from the date of resignation. Due to the modification of Dr. Braunstein's options, the Company recorded the incremental value of $500,563 during the three months ended September 30, 2020 to general and administrative expense within the Company's condensed consolidated statements of operations.

Stock Options

The Company determined the fair value of stock options granted based upon the assumptions as provided below.

	For the Nine Months Ended September 30,
	2020			2019
Stock price	$	20.51 - $ 51.12		$	6.81 - $8.65
Exercise price	$	20.51 - $ 51.12		$	9.18
Dividend yield		0	%		0	%
Expected volatility		95% - 101	%		97	%
Risk-free interest rate		0.28% - 1.69	%		1.71% - 2.37	%
Expected life (in years)		5.27 - 6.08			5.58 - 6.02

Following is a summary of stock option activities for the nine months ended September 30, 2020:

	Options			Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding 1/1/2020		219,592		$	7.29	$	9.18		9.72	$	-
Granted		513,400			23.23		30.01		-		-
Exercised		(57,767	)		6.72		9.18
Forfeited		(52,886	)		14.08		18.91		-		-
Outstanding 9/30/2020		622,339		$	20.93	$	25.53		9.25	$	1,049,496

Exercisable as of 9/30/2020		86,583		$	9.70	$	13.24		8.31	$	552,391

The weighted average grant date fair value of the options granted during the nine months ended September 30, 2019 was $6.71. The fair value of stock options is amortized on a straight line basis over the requisite service periods of the respective awards. As of September 30, 2020, the unamortized value of stock options was $10,151,722. As of September 30, 2020, the weighted average remaining amortization period was 3.12 years.

Summary of Stock-Based Compensation Expense

The following tables summarize total stock-based compensation costs recognized:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Restricted stock	$	-	$	22,500	$	-	$	67,500
RSUs		1,307,173		-		5,051,513		-
Stock options		1,473,629		116,640		2,355,818		250,984
Total	$	2,780,802	$	139,140	$	7,407,331	$	318,484

Stock-based compensation expense was reflected within the statements of operations as:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Research and development	$	158,040	$	81,645	$	568,678	$	175,197
General and administrative		2,622,762		57,495		6,838,653		143,287
Total	$	2,780,802	$	139,140	$	7,407,331	$	318,484

Employee Benefit Plan

9 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLAN

NOTE 9 – EMPLOYEE BENEFIT PLAN

The Company maintains a defined contribution benefit plan under section 401(k) of the Internal Revenue Code covering substantially all qualified employees of the Company (the "401(k) Plan"). Under the 401(k) Plan, the Company matches 100% up to a 4% contribution. The 401(k) Plan was implemented in June of 2020. For the three and nine months ended September 30, 2020, the Company recorded expense of $33,553 and $41,509, respectively, under the 401(k) Plan.

COVID-19

9 Months Ended

Sep. 30, 2020

Covid19 [Abstract]

COVID-19

NOTE 10 – COVID-19

The ultimate impact of the current COVID-19 pandemic or a similar health epidemic is highly uncertain and subject to change. The Company does not yet know the full extent of potential delays or impacts on its business, its research and development activities, healthcare systems or the global economy as a whole. However, the effects could have a material impact on the Company's operations, liquidity and capital resources and the Company will continue to monitor the COVID-19 situation closely.

In response to public health directives and orders, the Company has implemented work-from-home policies for its employees and temporarily modified its operations to comply with applicable social distancing recommendations. Similar health directives and orders are affecting third parties with whom the Company does business, including the third parties that the Company has contracted with to conduct studies for TARA-002. The effects of the orders and the Company's related adjustments in its business are likely to negatively impact productivity, disrupt the Company's business and delay its timelines, the magnitude of which will depend, in part, on the length and severity of the restrictions and other limitations on the Company's ability to conduct its business in the ordinary course.

Severe and/or long-term disruptions in the Company's operations will negatively impact its business, operating results and financial condition in other ways, as well. Specifically, the Company anticipates that the stress of COVID-19 on healthcare systems around the globe will negatively impact its ability to conduct clinical trials in the near term due primarily to the lack of resources at clinical trial sites and the resulting inability to enroll patients in the trials. The Company also anticipates that the global impact of COVID-19 will negatively impact its ability to conduct nonclinical studies due primarily to laboratory closures and limited availability of personnel. In addition, while the potential economic impact brought by, and the duration of, COVID-19 may be difficult to assess or predict, it has significantly disrupted global financial markets, and may limit the Company's ability to access capital, which could in the future negatively affect its liquidity. A recession or market correction resulting from the spread of COVID-19 could materially affect the Company's business and the value of its Common Stock.

Subsequent Events

9 Months Ended

Sep. 30, 2020

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 11 – SUBSEQUENT EVENTS

On November 2, 2020, employees and new hires of the Company were granted options to purchase an aggregate of 10,200 shares of the Company's Common Stock with an exercise price of $17.84. These stock options expire ten years from the date of grant and vest 25% on the one year anniversary of the vesting commencement date and the remainder of the underlying shares shall vest in thirty-six equal monthly installments thereafter.

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Principles of Consolidation

Principles of Consolidation

Use of Estimates

Use of Estimates

Cash and cash equivalents

Cash and cash equivalents

Restricted Cash

Restricted Cash

Property and Equipment

Property and Equipment

Goodwill

Goodwill

Net Loss per Common Share

Net Loss per Common Share

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

	For the Three and Nine Months Ended September 30,
	2020		2019
Stock options		622,339		1,151,730
Restricted stock units		407,325		-
Conversion of Series 1 Convertible Preferred Stock		8,029,039		-
Total potentially dilutive shares		9,058,703		1,151,730

Concentrations of Credit Risk

Concentrations of Credit Risk

Stock-Based Compensation

Stock-Based Compensation

Fair Value Measurements

Fair Value Measurements

The carrying amounts of cash and cash equivalents, prepaid expenses, accounts payable and short-term debt approximate their fair values due to the short-term nature of these instruments.

Level 1 Quoted prices in active markets for identical assets or liabilities.

Level 3 Significant unobservable inputs that cannot be corroborated by market data.

Research and Development Costs

Business Combinations

Business Combinations

Recent Accounting Pronouncements Adopted

Recent Accounting Pronouncements Adopted

Subsequent Events

Subsequent Events

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were available to be issued. Other than as described in Note 1, 7, and 11, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Schedule of weighted average dilutive common shares

	For the Three and Nine Months Ended September 30,
	2020		2019
Stock options		622,339		1,151,730
Restricted stock units		407,325		-
Conversion of Series 1 Convertible Preferred Stock		8,029,039		-
Total potentially dilutive shares		9,058,703		1,151,730

Reverse Merger with Protara and Recapitalization (Tables)

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Schedule of preliminary allocation of the purchase price consideration

Cash	$	3,668,742
Restricted cash		50,000
Prepaid expenses and other current assets		1,739,270
Goodwill		29,367,213
Accrued expenses		(292,598	)
Total purchase price consideration	$	34,532,627

Schedule of unaudited pro forma combined financial information

	For the Three Months Ended September 30,			For the Nine Months Ended September 30,
	2019			2020			2019
Net loss	$	(3,890,083	)	$	(24,945,372	)	$	(18,692,814	)
Pro forma loss per common share, basic and diluted	$	(0.67	)	$	(4.22	)	$	(3.24	)
Pro forma weighted average number of common shares outstanding, basic and diluted		5,780,199			5,910,849			5,776,114

Accrued Expenses (Tables)

9 Months Ended

Sep. 30, 2020

Payables and Accruals [Abstract]

Schedule of accrued expenses

	As of
	September 30, 2020		December 31, 2019
Legal fees	$	356,422	$	1,572,554
Research and development		152,071		1,050,500
Bonus		715,500		-
Other		345,355		11,736
Total	$	1,569,348	$	2,634,790

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of operating leases

		As of
Operating leases:	Balance Sheet Location	September 30, 2020		January 9, 2020		December 31, 2019
Right-of-use assets	Other assets	$	404,044	$	403,161	$	-
Right-of-use liability, current	Right-of-use liability, current		34,079		9,195		-
Right-of-use lease liability, long-term	Right-of-use lease liability, long-term		394,721		393,966		-

Lease cost	For the Three Months Ended September 30, 2020		For the Nine Months Ended September 30, 2020
Operating lease cost	$	21,147	$	60,639
Short-term lease cost		2,793		151,332
Total	$	23,940	$	211,971

	As of September 30, 2020
Other information
Weighted-average discount rate – operating lease		12.00	%
Weighted-average remaining lease term – operating lease (in months)		91

Schedule of minimum lease payments

For Years Ending December 31,	Operating lease
2020 (excluding the nine months ended September 30, 2020)	$	82,911
2021		145,176
2022		84,402
2023		86,088
2024		87,810
Thereafter		297,618
Total future minimum lease payments, undiscounted		784,005
Less: Imputed interest for leases in excess of one year		230,345
Present value of future minimum lease payments	$	553,660
Present value of future minimum lease payments for our operating lease liabilities	$	428,800
Present value of future minimum lease payments, short-term leases	$	124,860

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of restricted stock unit activities

	Restricted Stock Units			Weighted Average Grant Date Fair Value
Non-vested 1/1/2020		-		$	-
Granted		479,325			29.97
Forfeited		(56,375	)		30.00
Vested		(119,896	)		30.00
Non-vested 9/30/2020		303,054		$	29.96

Schedule of the fair value of stock options granted

	For the Nine Months Ended September 30,
	2020			2019
Stock price	$	20.51 - $ 51.12		$	6.81 - $8.65
Exercise price	$	20.51 - $ 51.12		$	9.18
Dividend yield		0	%		0	%
Expected volatility		95% - 101	%		97	%
Risk-free interest rate		0.28% - 1.69	%		1.71% - 2.37	%
Expected life (in years)		5.27 - 6.08			5.58 - 6.02

Schedule of stock option activities

	Options			Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding 1/1/2020		219,592		$	7.29	$	9.18		9.72	$	-
Granted		513,400			23.23		30.01		-		-
Exercised		(57,767	)		6.72		9.18
Forfeited		(52,886	)		14.08		18.91		-		-
Outstanding 9/30/2020		622,339		$	20.93	$	25.53		9.25	$	1,049,496

Exercisable as of 9/30/2020		86,583		$	9.70	$	13.24		8.31	$	552,391

Schedule of total stock-based compensation costs

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Restricted stock	$	-	$	22,500	$	-	$	67,500
RSUs		1,307,173		-		5,051,513		-
Stock options		1,473,629		116,640		2,355,818		250,984
Total	$	2,780,802	$	139,140	$	7,407,331	$	318,484

Schedule of stock based compensation expense

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Research and development	$	158,040	$	81,645	$	568,678	$	175,197
General and administrative		2,622,762		57,495		6,838,653		143,287
Total	$	2,780,802	$	139,140	$	7,407,331	$	318,484

Business, Liquidity and Capital Resources (Details) - USD ($)			1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 06, 2020	Jan. 09, 2020	Sep. 24, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Business, Liquidity and Capital Resources (Textual)
Cash and cash equivalents				$ 165,904,797		$ 165,904,797				$ 564,124
Net losses				(7,970,085)	$ (2,354,083)	(25,170,372)	$ (5,310,814)
Working capital				163,228,281		163,228,281
Stockholders' equity				194,625,763	284,908	194,625,763	284,908	$ 59,430,533	$ 64,741,841	$ (2,127,959)	$ 1,999,852	$ 3,326,065	$ 4,777,239
Net cash used in operating activities						(16,641,088)	(3,922,307)
Non stock based compensation				2,780,802	$ 139,140	7,407,331	318,484
Net of offering costs				$ 39,600,000		$ 39,600,000
Reverse stock split, description		1-for-40				On January 9, 2020, in connection with, and prior to the completion of the Merger, Protara Therapeutics, Inc. effected the Protara Reverse Stock Split, which resulted in 557,631 pre-merger shares of Protara Therapeutics, Inc. outstanding.
Private placement							$ 499,999
Gross proceeds			$ 147,600,000			$ 42,500,000
Net proceeds			$ 139,900,000
Subsequent Event [Member]
Business, Liquidity and Capital Resources (Textual)
Gross proceeds	$ 11,600,000
Net proceeds	$ 11,100,000

Summary of Significant Accounting Policies (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Total potentially dilutive shares			9,058,703	1,151,730
Restricted stock units [Member]
Total potentially dilutive shares	407,325		407,325
Stock options [Member]
Total potentially dilutive shares	622,339	1,151,730	622,339	1,151,730
Conversion of series 1 convertible preferred stock [Member]
Total potentially dilutive shares	8,029,039		8,029,039

Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Summary Of Significant Accounting Policies
Restricted cash	$ 50,000		$ 50,000
Cash deposit to collateralize	50,000		50,000
Research and development expenses	$ 2,796,214	$ 1,098,617	$ 8,330,727	$ 3,163,179

Reverse Merger with Protara and Recapitalization (Details)	9 Months Ended
	Sep. 30, 2020 USD ($)
Business Combinations [Abstract]
Cash	$ 3,668,742
Restricted cash	50,000
Prepaid expenses and other current assets	1,739,270
Goodwill	29,367,213
Accrued expenses	(292,598)
Total purchase price consideration	$ 34,532,627

Reverse Merger with Protara and Recapitalization (Details 1) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Combinations [Abstract]
Net loss	$ (3,890,083)	$ (24,945,372)	$ (18,692,814)
Pro forma loss per common share, basic and diluted	$ (0.67)	$ (4.22)	$ (3.24)
Pro forma weighted average number of common shares outstanding, basic and diluted	5,780,199	5,910,849	5,776,114

Reverse Merger with Protara and Recapitalization (Details Textual)		9 Months Ended
	Jan. 09, 2020 shares	Sep. 30, 2020 USD ($) shares	Jan. 02, 2020 shares
Reverse Merger with Artara and Recapitalization (Textual)
Reverse stock split	1-for-40	On January 9, 2020, in connection with, and prior to the completion of the Merger, Protara Therapeutics, Inc. effected the Protara Reverse Stock Split, which resulted in 557,631 pre-merger shares of Protara Therapeutics, Inc. outstanding.
Outstanding reverse stock	557,631
Common shares exchange ratio	0.190756
Shares available for issuance	2,627,533
Fair value of net assets \| $		$ 34,532,627
Description of ownership rights		Immediately after the consummation of the Merger and prior to the consummation of the Proteon Private Placement, the former stockholders and option holders of Private ArTara owned, or held rights to acquire, approximately 75.2% of the fully-diluted Common Stock of Protara, with Protara Therapeutics, Inc.’s stockholders and option holders immediately prior to the Merger owning approximately 24.8% of the fully-diluted Common Stock of Protara.
Pre merger shares		557,631
Reverse business combination		1,033,907
Merger Agreement [Member]
Reverse Merger with Artara and Recapitalization (Textual)
Common shares exchange ratio	0.190756
Series A Convertible Preferred Stock [Member]
Reverse Merger with Artara and Recapitalization (Textual)
Convertible preferred stock		476,276
Private Placement [Member]
Reverse Merger with Artara and Recapitalization (Textual)
Subscription agreement, description		(i) 3,879.356 of shares of Protara Therapeutics, Inc.'s Series 1 Convertible Non-Voting Preferred Stock at a purchase price of approximately $7,011.47 per share for gross proceeds of $27,199,988 and proceeds, net of issuance costs, of $25,318,706, (ii) 1,896,888 shares of Protara Therapeutics, Inc.'s Common Stock at a purchase price of approximately $7.01 per share for gross proceeds of $13,299,974 and proceeds, net of issuance costs, of $12,413,337 and (B) Private ArTara issued in a private placement immediately prior to the Merger (the "ArTara Private Placement") 284,875 shares of Private ArTara common stock (post-Exchange Ratio basis) at a purchase price of approximately $7.01 per share (post-Exchange Ratio basis) (together with the Proteon Private Placement, the "Private Placements") for gross proceeds of $1,999,999 and proceeds, net of issuance costs, of $1,867,580. The shares issued in the Proteon Private Placement were registered for resale on a registration statement on Form S-3 filed and declared effective by the U.S. Securities and Exchange Commission (the "SEC") on January 30, 2020.
Converted shares issued		18,954
2017 Equity Incentive Plan [Member]
Reverse Merger with Artara and Recapitalization (Textual)
Common shares exchange ratio	0.190756
Shares available for issuance	219,699
2014 Equity Incentive Plan [Member]
Reverse Merger with Artara and Recapitalization (Textual)
Shares available for issuance			1,048,300

Accrued Expenses (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Legal fees	$ 356,422	$ 1,572,554
Research and development	152,071	1,050,500
Bonus	715,500
Other	345,355	11,736
Total	$ 1,569,348	$ 2,634,790

Short-term Debt (Details) - USD ($)	1 Months Ended
Short-term Debt (Details) - USD ($)	Feb. 19, 2020	Sep. 30, 2020
Short-term Debt (Textual)
Description of financing agreement	The Company entered into a nine month financing agreement with AFCO Credit Corporation for its directors and officers ("D&O") liability insurance in the amount of $2,224,760. The Company made a down payment of $556,190, leaving a principal balance of $1,668,570. The financing bears interest at a rate of 4.25% per annum, and will be repaid in monthly installments of $189,161, which includes both principal and interest.
Debt amount		$ 370,793

Commitments and Contingencies (Details) - USD ($)	3 Months Ended	9 Months Ended
Commitments and Contingencies (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2020	Jan. 09, 2020	Dec. 31, 2019
Operating lease cost	$ 21,147	$ 60,639
Short-term lease cost	2,793	151,332
Total	$ 23,940	$ 211,971
Weighted-average discount rate - operating leases	12.00%	12.00%
Weighted-average remaining lease term - operating lease (in months)	91 months	91 months	8 years
Right-of-use assets [Member]
Right-of-use assets	$ 404,044	$ 404,044	$ 403,161
Right of use liability, current [Member]
Right-of-use assets	34,079	34,079	9,195
Right-of-use lease liability, long-term [Member]
Right-of-use assets	$ 394,721	$ 394,721	$ 393,966

Commitments and Contingencies (Details 1)	Sep. 30, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020 (excluding the nine months ended September 30, 2020)	$ 82,911
2021	145,176
2022	84,402
2023	86,088
2024	87,810
Thereafter	297,618
Total future minimum lease payments, undiscounted	784,005
Less: Imputed interest for leases in excess of one year	230,345
Present value of future minimum lease payments	553,660
Present value of future minimum lease payments for our operating lease liabilities	428,800
Present value of future minimum lease payments, short-term leases	$ 124,860

Commitments and Contingencies (Details Textual) - USD ($)			1 Months Ended			3 Months Ended			9 Months Ended
	Oct. 02, 2020	Dec. 06, 2018	Nov. 28, 2018	Dec. 22, 2017	Sep. 27, 2017	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jan. 09, 2020	Dec. 31, 2019	Feb. 28, 2002
Commitments (Textual)
Royalty percentage													2.50%
Description of royalty				The Company entered into an agreement (the “Feinstein Agreement”) with The Feinstein Institute for Medical Research (the “Feinstein Institute”), a not-for-profit corporation with 50 research labs and 2,500 clinical research studies. Pursuant to the Feinstein Agreement, the Company acquired an exclusive license relating to treatment of fatty liver diseases in humans for which Choline may be an effective therapeutic. In consideration for the rights and license granted, the Feinstein Institute would receive a royalty of one percent (1%) of the first one hundred million dollars ($100,000,000) of net sales of IV Choline Chloride and a royalty of one and one-half percent (1.5%) of all net sales thereafter. In addition, the Company would pay the Feinstein Institute twelve and one-half percent (12.5%) of net proceeds resulting from agreements entered within 2 years from the Effective Date, and seven and one-half percent (7.5%) of net proceeds resulting from agreements entered into thereafter. Pursuant to the Feinstein Agreement additional payments would be due to the Feinstein Institute for license maintenance payments and for meeting milestone events. On January 9, 2020, the Company’s raising of over $5,000,000 triggered a financing milestone obligation and accordingly the Feinstein Institute was paid $100,000. Pursuant to the Feinstein Agreement, upon the achievement of certain future new drug application milestones, the Company would be obligated to remit an aggregate of $275,000.
Lease term						91 months			91 months		8 years
Executive Employment Agreements [Member]
Commitments (Textual)
Description of agreements									In connection with the consummation of the Merger, Jesse Shefferman, the Company’s Chief Executive Officer, had his base salary increased from $365,000 to $510,000 and Jacqueline Zummo, the Company’s Head of Operations and Medical Affairs, had her base salary increased from $305,000 to $325,000. The Company also entered into an employment agreement with Blaine Davis to become the Company’s Chief Financial Officer on January 31, 2020, effective as of February 11, 2020, for a base salary of $385,000, and with Julio Casoy to become the Company’s Chief Medical Officer, on February 6, 2020, for a base salary of $400,000.
Research and development expenses							$ 210,813
General and administrative expenses							$ 259,688
Executive Employment Agreements [Member] \| Mr. Shefferman [Member]
Commitments (Textual)
Bonus payments									$ 259,688
Executive Employment Agreements [Member] \| Dr. Zummo [Member]
Commitments (Textual)
Bonus payments									95,313
Executive Employment Agreements [Member] \| Dr. Casoy [Member]
Commitments (Textual)
Bonus payments									115,500
Temporary Employment Agreement [Member]
Commitments (Textual)
Annual base salary		$ 90,000
Compensation obligation											$ 462,500
Clinical Services Agreements [Member]
Commitments (Textual)
Description of license agreement					The Company entered into a license agreement (the “Choline License Agreement”) with Alan L. Buchman (“Dr. Buchman”). Pursuant to the Choline License Agreement, the Company received from Dr. Buchman the license rights in and to the “Licensed Orphan Designations”, the “Licensed IND”, “Existing Study Data” and the “Licensed Know-How” for one or more of the licensed indications. In consideration for the rights and licenses granted, Dr. Buchman received a payment of $50,000 on October 2, 2017, and license payments of $50,000 and $50,000 on December 12, 2018 and January 8, 2019, respectively, upon the Company meeting the criteria for certain meetings to be held with the Federal Drug Administration (the “FDA”). Pursuant to the Choline License Agreement, effective October 2017, the Company incurred a fixed obligation to Dr. Buchman of $400,000 (the “Choline License Fee”). Upon the Company receiving $5,000,000 in cumulative funding (as defined), Dr. Buchman would be entitled to receive payment of the Choline License Fee as a lump sum if the funds are received by April 15, 2019 and the Choline License Fee shall be increased to a one-time payment of $600,000 if the funds are received by October 15, 2019.
Research and development expenses						$ 0		$ 0	0	$ 200,000
Clinical Services Agreements [Member] \| Dr. Buchman [Member]
Commitments (Textual)
Choline License Fee	$ 50,000
Accrued expenses												$ 550,000
Feinstein Agreement [Member]
Commitments (Textual)
Research and development expenses						0		0	100,000	0
Iowa Agreement [Member]
Commitments (Textual)
Description of agreements			The Company entered into a sponsored research and license agreement (the "Iowa Agreement") with the University of Iowa. Pursuant to the Iowa Agreement, the University of Iowa, which is engaged in clinical research to improve the diagnosis and treatment of lymphangioma using a pharmaceutical product (OK-432), would assist the Company in collecting case reports, forms, source data, and safety data available to the University of Iowa in support of the development of the Company's proprietary Streptococcus Pyogenes investigational product, TARA-002 for the LMs indication. During the term of the services, the Company would pay the University of Iowa thirty thousand dollars ($30,000) per year to fund the project, plus additional amounts upon the realization of certain milestones. More specifically, upon forty-five (45) days of an approval of the TARA-002 by the FDA, the Company would pay up to $1,750,000 to the University of Iowa for meeting their milestones. Furthermore, the Company would pay the University of Iowa royalties of up to 1.75% for net sales ranging from $0 - $25,000,000, 2.25% for net sales ranging from $25,000,000+ to $50,000,000, and 2.50% for net sales of $50,000,000+. Pursuant to the Iowa Agreement, the University of Iowa would be entitled to additional payments for annual net sales payments as per the following milestones. For annual net sales of product up to $25,000,000; $62,500; for annual net sales of product of up to $50,000,000; $62,500; and for annual net sales of product of up to $100,000,000; $125,000.
Research and development expenses						7,500		7,500	22,500	22,500
Chugai Pharmaceutical Agreement [Member]
Commitments (Textual)
Compensation obligation												$ 500,000
Research and development expenses						$ 0		$ 500,000	$ 0	$ 500,000

Stockholders' Equity (Details) - USD ($)		1 Months Ended	9 Months Ended
Stockholders' Equity (Details) - USD ($)	Oct. 06, 2020	Sep. 24, 2020	Sep. 30, 2020	Sep. 22, 2020	Dec. 31, 2019
Stockholders' Equity (Textual)
Common shares of par value			$ 0.001		$ 0.001
Common stock, shares authorized			100,000,000		100,000,000
Common stock shares issued			10,521,840		2,627,533
Common stock, shares outstanding			10,521,840		2,627,533
Preferred shares of par value			$ 0.001		$ 0.001
Preferred stock, shares authorized			10,000,000		10,000,000
Underwritten Public Offering [Member]
Stockholders' Equity (Textual)
Aggregate of shares of common stock		4,600,000
Offering price, per share		$ 16.87
Gross proceeds		$ 77,600,000
Net proceeds		$ 73,600,000
Granted option to purchase		690,000
Underwritten Public Offering [Member] \| Subsequent Event [Member]
Stockholders' Equity (Textual)
Gross proceeds	$ 11,600,000
Net proceeds	$ 11,100,000
Granted option to purchase	690,000
Series 1 Convertible Preferred Stock [Member]
Stockholders' Equity (Textual)
Preferred stock, shares authorized			8,028		0
Preferred stock, shares issued			8,027		0
Preferred stock, shares outstanding			8,027		0
Conversion of stock shares			1,000
Shares issued, price per share			$ 10.00
Convertible preferred stock, percentage			19.99%
Conversion price per share			$ 7.01
Series 1 Convertible Preferred Stock [Member] \| Underwritten Public Offering [Member]
Stockholders' Equity (Textual)
Aggregate of shares of common stock		4,148
Offering price, per share		$ 16,873.54
Gross proceeds		$ 70,000,000
Net proceeds		$ 66,300,000
Series 1 Convertible Preferred Stock [Member] \| Minimum [Member]
Stockholders' Equity (Textual)
Preferred stock, shares issued				3,880
Series 1 Convertible Preferred Stock [Member] \| Maximum [Member]
Stockholders' Equity (Textual)
Preferred stock, shares issued				8,028

Stock-Based Compensation (Details) - Restricted stock unit [Member]	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Restricted Stock Units
Balance at beginning \| shares
Granted \| shares	479,325
Forfeited \| shares	(56,375)
Vested \| shares	(119,896)
Balance at ending \| shares	303,054
Weighted Average Grant Date Fair Value
Balance at beginning \| $ / shares
Granted \| $ / shares	29.97
Forfeited \| $ / shares	30.00
vested \| $ / shares	30.00
Balance at ending \| $ / shares	$ 29.96

Stock-Based Compensation (Details 1) - $ / shares	9 Months Ended
Stock-Based Compensation (Details 1) - $ / shares	Sep. 30, 2020	Sep. 30, 2019
Exercise price		$ 9.18
Dividend yield	0.00%	0.00%
Expected volatility		97.00%
Maximum [Member]
Stock price	$ 20.51	$ 6.81
Exercise price	$ 20.51
Expected volatility	95.00%
Risk-free interest rate	0.28%	1.71%
Expected life (in years)	5 years 3 months 8 days	5 years 6 months 29 days
Minimum [Member]
Stock price	$ 51.12	$ 8.65
Exercise price	$ 51.12
Expected volatility	101.00%
Risk-free interest rate	1.69%	2.37%
Expected life (in years)	6 years 29 days	6 years 7 days

Stock-Based Compensation (Details 2) - Options [Member] - USD ($)	9 Months Ended
	Sep. 30, 2020
Options
Balance at beginning	219,592
Granted	513,400
Exercised	(57,767)
Forfeited	(52,886)
Balance at ending	622,339
Exercisable	86,583
Weighted Average Grant Date Fair Value
Balance at beginning	$ 7.29
Granted	23.23
Exercised	6.72
Forfeited	14.08
Balance at ending	20.93
Exercisable	9.70
Weighted Average Exercise Price
Balance at beginning	9.18
Granted	30.01
Exercised	9.18
Forfeited	18.91
Balance at ending	25.53
Exercisable	$ 13.24
Weighted Average Remaining Contractual Term (years)
Balance at beginning	9 years 8 months 19 days
Balance at ending	9 years 2 months 30 days
Exercisable	8 years 3 months 22 days
Aggregate Intrinsic Value
Balance at beginning
Granted
Balance at ending	1,049,496
Exercisable	$ 552,391

Stock-Based Compensation (Details 3) - USD ($)	3 Months Ended		9 Months Ended
Stock-Based Compensation (Details 3) - USD ($)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Total stock-based compensation	$ 2,780,802	$ 139,140	$ 7,407,331	$ 318,484
Restricted stock [Member]
Total stock-based compensation		22,500		67,500
RSUs [Member]
Total stock-based compensation	1,307,173		5,051,513
Stock options [Member]
Total stock-based compensation	$ 1,473,629	$ 116,640	$ 2,355,818	$ 250,984

Stock-Based Compensation (Details 4) - USD ($)	3 Months Ended		9 Months Ended
Stock-Based Compensation (Details 4) - USD ($)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Total stock-based compensation	$ 2,780,802	$ 139,140	$ 7,407,331	$ 318,484
Research and development [Member]
Total stock-based compensation	158,040	81,645	568,678	175,197
General and administrative [Member]
Total stock-based compensation	$ 2,622,762	$ 57,495	$ 6,838,653	$ 143,287

Stock-Based Compensation (Details Textual) - USD ($)				3 Months Ended		6 Months Ended	9 Months Ended
Stock-Based Compensation (Details Textual) - USD ($)	Jul. 02, 2020	Jan. 10, 2020	Oct. 03, 2014	Sep. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Aug. 08, 2020	Jul. 29, 2020	Jul. 23, 2020	Jul. 10, 2020	Jan. 09, 2020	Dec. 31, 2019	Aug. 10, 2017
Stock Based Compensation (Textual)
Shares available for issuance													2,627,533
Common stock, shares authorized				100,000,000			100,000,000							100,000,000
Common stock, shares issued				10,521,840			10,521,840							2,627,533
Unamortized value of RSUs							$ 10,151,722
Weighted average grant date fair value								$ 6.71
Weighted average remaining amortization period							3 years 1 month 13 days
Stock Option [Member]
Stock Based Compensation (Textual)
Grant date fair value				$ 20.93			$ 20.93							$ 7.29
Dr. Braunstein's [Member] \| Stock Option [Member]
Stock Based Compensation (Textual)
Incremental value				$ 500,563
Restricted Stock Units (RSUs) [Member]
Stock Based Compensation (Textual)
Common stock, shares issued									5,687	9,938		5,245
Grant date fair value				$ 29.96			$ 29.96
Unamortized value of RSUs							$ 7,604,720
Number of RSUs							104,271	0
Weighted average remaining amortization period							1 year 11 months 15 days
Grant date fair value											$ 161,246
Vested shares											5,687
Amount of charges				$ 151,843
Restricted Stock Units (RSUs) [Member] \| Directors One [Member]
Stock Based Compensation (Textual)
Issuance of common stock		$ 254,000
Vested options, percentage		12.50%
Grant date fair value		$ 7,620,000
Restricted Stock Units (RSUs) [Member] \| Directors Two [Member]
Stock Based Compensation (Textual)
Issuance of common stock		$ 62,000
Vested options, percentage		50.00%
Grant date fair value		$ 1,860,000
Restricted Stock Units (RSUs) [Member] \| Officers [Member]
Stock Based Compensation (Textual)
Issuance of common stock		$ 91,000
Grant date fair value		$ 2,730,000
Restricted Stock Units (RSUs) [Member] \| Employees [Member]
Stock Based Compensation (Textual)
Issuance of common stock		$ 14,825
Grant date fair value		$ 444,750
Restricted Stock Units (RSUs) [Member] \| CEO [Member]
Stock Based Compensation (Textual)
Issuance of common stock		$ 50,000
Grant date fair value		$ 1,500,000
2020 Inducement Plan [Member]
Stock Based Compensation (Textual)
Issuance of common stock							$ 600,000
Shares available for issuance				507,350			507,350
2017 Equity Incentive Plan [Member]
Stock Based Compensation (Textual)
Shares available for issuance															2,000,000
2014 Equity Incentive Plan [Member]
Stock Based Compensation (Textual)
Shares available for issuance				232,850			232,850
Sale of stock, description							The number of shares available for issuance under the Amended 2014 Plan increased by 900,002 shares from 148,298 shares to 1,048,300 shares on January 1, 2020.
2014 Equity Incentive Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Stock Based Compensation (Textual)
Issuance of common stock	$ 7,500
Sale of stock, description					The first quarter of 2020, the Board of Directors granted stock options to purchase an aggregate of 205,250 shares of the Company's Common Stock. These options had an exercise price ranging from $30.00 to $37.30. The options expire ten years from their respective dates of grant and vest 25% on the one year anniversary of the grant date and the remainder of the underlying shares vest in thirty-six equal monthly installments thereafter. The grant date fair value of these options was $5,453,691.	The second quarter of 2020, the Board of Directors granted stock options to purchase an aggregate of 113,450 shares of the Company's Common Stock. These options had an exercise price ranging from $24.02 to $51.12. The options expire ten years from their respective dates of grant. Options representing the purchase of 59,450 shares of the Company's Common Stock vest 25% on the one year anniversary of the date of grant and the remainder of the underlying shares vest in thirty-six equal monthly installments thereafter. Options representing the purchase of 54,000 shares of the Company's Common Stock vest monthly over one year. The grant date fair value of these options was $2,547,829.	The third quarter of 2020, the Board of Directors granted stock options to purchase an aggregate of 194,700 shares of the Company's Common Stock. These options had an exercise price ranging from $20.51 to $28.20. The options expire ten years from their respective dates of grant. Options representing the purchase of 168,450 shares of the Company's Common Stock vest 25% on the one year anniversary of the date of grant and the remainder of the underlying shares vest in thirty-six equal monthly installments thereafter. Options representing the purchase of 8,250 shares of the Company's Common Stock vest monthly over one year. Options representing the purchase of 18,000 shares of the Company's Common Stock vest monthly over three years. The grant date fair value of these options was $3,922,772.
Vested options, percentage	25.00%
Grant date fair value	$ 211,500
2014 Employee Stock Purchase Plan [Member]
Stock Based Compensation (Textual)
Sale of stock, description			The number of shares increases each January 1, commencing on January 1, 2015 and ending on (and including) January 1, 2024, by an amount equal to the lesser of one percent of the outstanding shares as of the end of the immediately preceding fiscal year, 7,025 shares or any lower amount determined by the Company’s Board of Directors prior to each such January 1st.
Common stock, shares authorized			3,513	18,012			18,012
Common stock, shares issued				13,340			13,340

Employee Benefit Plan (Details) - USD ($)	3 Months Ended	9 Months Ended
Employee Benefit Plan (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2020
Employee Benefit Plan (Textual)
Defined contribution benefit plant, description		The Company maintains a defined contribution benefit plan under section 401(k) of the Internal Revenue Code covering substantially all qualified employees of the Company (the "401(k) Plan"). Under the 401(k) Plan, the Company matches 100% up to a 4% contribution.
Recorded expense	$ 33,553	$ 41,509

Subsequent Events (Details)

Nov. 02, 2020

Subsequent Event [Member]

Subsequent event, description

Employees and new hires of the Company were granted options to purchase an aggregate of 10,200 shares of the Company's Common Stock with an exercise price of $17.84. These stock options expire ten years from the date of grant and vest 25% on the one year anniversary of the vesting commencement date and the remainder of the underlying shares shall vest in thirty-six equal monthly installments thereafter.