0001213900-21-014709 | 10-K | XBRL Viewer

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
Document and Entity Information - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 09, 2021	Jun. 30, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	Protara Therapeutics, Inc.
Entity Central Index Key	0001359931
Amendment Flag	false
Document Type	10-K
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Document Period End Date	Dec. 31, 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		11,228,606
Entity Public Float			$ 76,900
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 168,598	$ 564
Restricted cash	50
Deferred offering costs		122
Prepaid expenses and other current assets	787	78
Total current assets	169,435	764
Non-current assets:
Restricted cash, long-term	745
Property and equipment, net	1,240	459
Goodwill	29,517
Other assets	2,220
Total assets	203,157	1,223
Current liabilities:
Accounts payable	914	716
Accrued expenses	1,913	2,635
Operating lease liability, current	88
Total current liabilities	2,915	3,351
Non-current liabilities:
Operating lease liability, long-term	999
Total liabilities	3,914	3,351
Commitments and Contingencies (Note 7)
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 December 31, 2020 and 2019, respectively, 8,027 and 0 shares issued and outstanding as of December 31, 2020 and 2019, respectively.
Common Stock, $0.001 par value, authorized 100,000,000 shares: Common Stock, 11,211,840 and 2,627,533 shares issued and outstanding as of December 31, 2020 and 2019, respectively.	11	3
Additional Paid in Capital	245,992	10,651
Accumulated Deficit	(46,760)	(12,782)
Total Stockholders' Equity (Deficit)	199,243	(2,128)
Total Liabilities and Stockholders' Equity (Deficit)	$ 203,157	$ 1,223

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating expense:
Research & development	$ 11,982	$ 3,878
General & administrative	22,462	3,952
Total operating expenses	34,444	7,830
Operating loss	(34,444)	(7,830)
Other income, net
Interest income, net	(466)
Total other income, net	(466)
Net Loss	$ (33,978)	$ (7,830)
Weighted Average Shares Outstanding, basic and diluted	7,233,913	2,577,493
Net loss per share, basic and diluted	$ (4.70)	$ (3.04)

Consolidated Statements of Changes In Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Series 1 Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2018		$ 3	$ 9,727	$ (4,952)	$ 4,778
Balance, shares at Dec. 31, 2018		2,558,419
Stock-based compensation - restricted stock			75		75
Stock-based compensation - restricted stock units			36		36
Stock-based compensation - stock options			313		313
Issuance of common stock in September capital raise			500		500
Issuance of common stock in September capital raise,shares		69,114
Net loss				(7,830)	(7,830)
Balance at Dec. 31, 2019		$ 3	10,651	(12,782)	(2,128)
Balance, shares at Dec. 31, 2019		2,627,533
Issuance of Common Stock in ArTara Private Placement, net of offering costs			1,867		1,867
Issuance of Common Stock in ArTara Private Placement, net of offering costs, shares		284,875
Issuance of Common Stock in Proteon Private Placement, net of offering costs		$ 2	12,411		12,413
Issuance of Common Stock in Proteon Private Placement, net of offering costs, shares		1,896,888
Issuance of Series 1 Convertible Preferred Stock in Proteon Private Placement, net of offering costs			25,319		25,319
Issuance of Series 1 Convertible Preferred Stock in Proteon Private Placement, net of offering costs, shares	3,879
Reverse business combination		$ 1	34,532		34,533
Reverse business combination, shares		1,033,907
Issuance of Common Stock in Common Offering, net of offering costs		$ 4	73,566		73,570
Issuance of Common Stock in Common Offering, net of offering costs, shares		4,600,000
Issuance of Series 1 Convertible Preferred Stock in Preferred Offering, net of offering costs			66,284		66,284
Issuance of Series 1 Convertible Preferred Stock in Preferred Offering, net of offering costs, shares	4,148
Issuance of Common Stock in Common Offering (Underwriters Overallotment Option), net of offering costs		$ 1	11,086		11,087
Issuance of Common Stock in Common Offering (Underwriters Overallotment Option), net of offering costs, shares		690,000
Settlement of restricted stock units
Settlement of restricted stock units, shares		20,870
Exercise of stock options			530		530
Exercise of stock options, shares		57,767
Stock-based compensation - restricted stock
Stock-based compensation - restricted stock units			6,357		6,357
Stock-based compensation - stock options			3,389		3,389
Net loss				(33,978)	(33,978)
Balance at Dec. 31, 2020		$ 11	$ 245,992	$ (46,760)	$ 199,243
Balance, shares at Dec. 31, 2020	8,027	11,211,840

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	$ (33,978)	$ (7,830)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	9,746	424
Amortization of operating lease right-of-use asset	93
Depreciation	103	16
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	1,405	(37)
Other Assets	58
Accounts payable	198	366
Accrued expenses	(966)	2,050
Right-of-use liability	(66)
Net cash used in operating activities	(23,407)	(5,011)
Cash flows from investing activities:
Cash and restricted cash acquired in connection with the reverse merger with ArTara Therapeutics, Inc.	3,719
Purchase of property and equipment	(884)	(475)
Net cash provided by/(used in) investing activities	2,835	(475)
Cash flows from financing activities:
Proceeds from - ArTara Private Placement, net of offering costs	1,867
Proceeds from - Common Stock in Proteon Private Placement, net of offering costs	12,413
Proceeds from - Series 1 Convertible Preferred Stock in Proteon Private Placement, net of offering costs	25,319
Proceeds from Common Offering, net of offering costs	73,570
Proceeds from Preferred Offering, net of offering costs	66,284
Proceeds from Underwriters Overallotment Option	11,087
Repayments under short-term debt	(1,669)
Proceeds from the exercise of stock options	530
Proceeds from private placements		500
Net cash provided by financing activities	189,401	500
Net increase/(decrease) in cash and cash equivalents and restricted cash	168,829	(4,986)
Cash and cash equivalents and restricted cash - beginning of year	564	5,550
Cash and cash equivalents and restricted cash - end of year	169,393	564
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets:
Cash and cash equivalents	168,598	564
Restricted cash	50
Restricted cash, long-term	745
Cash and cash equivalents and restricted cash	169,393	564
Cash paid for:
Interest	34
Income Taxes
Non-cash investing and financing activities:
Deferred offering costs recorded in accrued expenses		122
Deferred offering costs recognized that were previously recorded in accrued expenses	122
Purchase of insurance agreement with notes payable	1,669
Common stock issued in connection with the reverse merger with ArTara Therapeutics, Inc.	$ 34,533

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC").

Principles of Consolidation

The 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 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, 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 December 31, 2020 and 2019 was $795 and $0, respectively. As of December 31, 2020, restricted cash consists of cash deposits of $795 to collateralize letter of credit obligations.

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 acquired in a business combination. 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. On December 31, 2020, in connection with the finalization of the purchase price allocation, the Company recorded an adjustment of $150 to goodwill related to prepaid expenses and accrued expenses (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 Years Ended December 31,
	2020		2019
Stock options		674,039		219,592
Restricted stock units		407,325		5,245
Conversion of Series 1 Convertible Preferred Stock		8,029,039		-
Total potentially dilutive shares		9,110,403		224,837

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 and accounts payable 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:

	Ø	Level 1 Quoted prices in active markets for identical assets or liabilities.
	Ø	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.
	Ø	Level 3 Significant unobservable inputs that cannot be corroborated by market data.

Income Taxes

Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The measurement of net deferred tax assets is reduced by the amount of any tax benefit that, based on available evidence, is not expected to be realized, and a corresponding valuation allowance is established.

Tax benefits are recognized only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon settlement. A liability for "unrecognized tax benefits" is recorded for any tax benefits claimed in the Company's tax returns that do not meet these recognition and measurement standards. As of December 31, 2020 and 2019, no liability for unrecognized tax benefits was required to be recorded. The guidance also discusses the classification of related interest and penalties on income taxes. The Company's policy is to record interest and penalties on uncertain tax positions as a component of income tax expense. No interest or penalties were recorded during the years ended December 31, 2020 and 2019.

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 $11,982 and $3,878 for the years ended December 31, 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.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"), which removes, adds and modifies certain disclosure requirements for fair value measurements in Topic 820. The Company will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy as well as the valuation processes of Level 3 fair value measurements. The Company will be required to provide additional disclosure related to the changes in unrealized gains and losses included in other comprehensive loss for recurring Level 3 fair value measurements and the range and weighted average of assumptions used to develop significant unobservable inputs for Level 3 fair value measurements. On January 1, 2020, the Company adopted ASU 2018-13. 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. 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

12 Months Ended

Dec. 31, 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"), 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. On account of the adjustment required pursuant to the Exchange Ratio, there were 2,627,533 shares of Private ArTara common stock outstanding immediately prior to the Merger.

Protara Therapeutics, Inc. assumed all of the outstanding and unexercised stock options of Private ArTara, with such stock options 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 $27,200 and proceeds, net of issuance costs, of $25,319, (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 $13,300 and proceeds, net of issuance costs, of $12,413 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 $2,000 and proceeds, net of issuance costs, of $1,867. 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 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. During the year ended December 31, 2020, the Company recorded an adjustment of $150 to goodwill. This adjustment was comprised of a decrease of $78 in prepaid expenses and other current assets, and an increase of $77 in accrued expenses, resulting in a final purchase price allocation as follows:

Cash	$	3,669
Restricted cash		50
Prepaid expenses and other current assets		1,662
Goodwill		29,517
Accrued expenses		(365	)
Total purchase price consideration	$	34,533

The total fair value of the net assets of Protara Therapeutics Inc. was determined by the Company to be $34,533 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 Private ArTara'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.

The following presents the unaudited pro forma combined financial information as if the reverse merger had occurred as of January 1, 2019.

	For the Years Ended December 31,
	2020			2019
Net loss	$	(33,754	)	$	(22,821	)
Pro forma loss per common share, basic and diluted	$	(4.62	)	$	(3.94	)
Pro forma weighted average number of common shares outstanding, basic and diluted		7,304,201			5,793,024

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.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 7 – 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. ASC 842 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 immediately 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.

The Company elected the package of practical expedients permitted within the standard, which allow an entity to forgo reassessing (i) whether a contract contains a lease, (ii) classification of leases, and (iii) whether capitalized costs associated with a lease meet the definition of initial direct costs. Also, the Company elected the expedient to allow the Company to not have to separate lease and non-lease components. The Company has also elected the short-term lease accounting policy under which the Company would not recognize a lease liability or ROU asset for any lease that at the commencement date has a lease term of twelve months or less and does not include a purchase option that the Company is more than reasonably certain to exercise.

On July 1, 2020 and December 1, 2020, the Company entered into additional quarter-to-quarter leases for additional contract development and manufacturing space for expected terms of approximately seven years, therefore resulting in the recognition of additional ROU assets and related operating lease liabilities.

On December 1, 2020, the Company entered into a long-term lease for office space for a term of seven years. This lease was entered into with a related party of the Company, and its terms were determined by management to be on an arms-length basis. The lease will not commence until the second quarter of 2021 when the Company is granted access to the premises. Accordingly, as of December 31, 2020, the Company did not recognize an additional ROU asset and related operating lease liability for this lease.

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 the Company 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	December 31, 2020		January 9, 2020		December 31, 2019
Right-of-use assets	Other assets	$	1,060	$	403	$	-
Operating lease liability, current	Operating lease liability, current		88		9		-
Operating lease liability, long-term	Operating lease liability, long-term		999		394		-

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

Lease cost	For the Year Ended December 31, 2020
Operating lease cost	$	93
Short-term lease cost		215
Total	$	308

Other information related to leases is presented below:

	As of December 31, 2020
Other information
Weighted-average discount rate – operating lease		12.00	%
Weighted-average remaining lease term – operating lease (in months)		87

As of December 31, 2020, the expected annual minimum lease payments of our operating lease liabilities and other short-term leases were as follows (includes long-term lease entered into on December 1, 2020 that does not commence until the second quarter of 2021):

For Years Ending December 31,	Operating lease
2021	$	1,111
2022		1,333
2023		1,338
2024		1,342
2025		1,423
Thereafter		3,277
Total future minimum lease payments, undiscounted		9,824
Less: Imputed interest for leases in excess of one year		8,676
Present value of future minimum lease payments	$	1,148
Present value of future minimum lease payments for our operating lease liabilities	$	1,087
Present value of future minimum lease payments, short-term leases	$	61

Employment Agreements

Executive Employment Agreements

The Company's executive officers have entered into at-will employment agreements.

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. 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, which was included in general and administrative expenses within the Company's consolidated statements of operations for the year ended December 31, 2020.

Collaborations and License Agreements

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 on October 2, 2017, and license payments of $50 and $50 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 (the "Choline License Fee"). Upon the Company receiving $5,000 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 if the funds are received by October 15, 2019. On October 2, 2019, the Company made a payment of $50 to Dr. Buchman. On January 22, 2020, in connection with the closing of the Merger and concurrent financing, Dr. Buchman was paid $550 which was included in accrued expenses as of December 31, 2019.

During the years ended December 31, 2020 and 2019, the Company recorded research and development expense of $0 and $200 (representing the increase in the Choline License Fee obligation), respectively, for expenditures to Dr. Buchman in connection with obligations under the Choline License Agreement.

License Agreement

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) 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 triggered a financing milestone obligation and accordingly the Feinstein Institute was paid $100. 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.

During the years ended December 31, 2020 and 2019, the Company recorded research and development expense of $115 and $1, respectively, in connection with the Feinstein Agreement.

Sponsored Research and License Agreement

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) 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 TARA-002 by the FDA, the Company would pay up to $1,750 to the University of Iowa for meeting these milestones. Furthermore, the Company would pay the University of Iowa royalties of up to 1.75% for net sales ranging from $0 - $25,000, 2.25% for net sales ranging from $25,000 to $50,000, and 2.50% for net sales in excess of $50,000. Pursuant to the Iowa Agreement, the University of Iowa would be entitled to additional payments for the Company achieving annual net sales of product according to the milestones. For annual net sales of product up to $25,000; $62; for annual net sales of product of up to $50,000; $62; and for annual net sales of product of up to $100,000; $125.

During the years ended December 31, 2020 and 2019, the Company recorded research and development expense of $30 and $30 respectively, in connection with the Iowa Agreement.

Chugai Agreement

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, the Company recorded an obligation of $500 upon Chugai having completed an agreed upon milestone, which the Company paid on July 27, 2020.

During the years ended December 31, 2020 and 2019, the Company recorded research and development expense of $0 and $500, respectively, 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 December 31, 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. 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

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 8 – STOCKHOLDERS' EQUITY

Authorized Common Stock

As of December 31, 2020, the Company has 100,000,000 shares of Common Stock authorized for issuance, $0.001 par value per share, of which 11,211,840 and 2,627,533 shares were issued and outstanding as of December 31, 2020 and 2019, 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 December 31, 2020 and 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 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.

Common Stock

On September 23, 2019, the Company completed a placement of 69,114 shares of its common stock at a price of $7.23 per share for gross proceeds of $500.

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. 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).

In December 2020, the Company filed a shelf registration statement on Form S-3, declared effective by the Securities and Exchange Commission on December 18, 2020 (Registration No. 333-251224) (the "Shelf Registration Statement"). The Shelf Registration Statement permits: (i) the offering, issuance and sale by the Company of up to a maximum aggregate offering price of $300 million of common stock, preferred stock, debt securities and warrants in one or more offerings and in any combination. No securities have been sold to date under the Shelf Registration Statement.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

NOTE 9 – 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 December 31, 2020, 460,650 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 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 December 31, 2020, 227,850 shares remain available to be issued under the Amended 2014 Plan. On January 1, 2021, pursuant to the Amended 2014 Plan's annual evergreen feature, the number of shares authorized under the Amended 2014 Plan was increased by 812,889 shares to 1,861,189 shares.

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 December 31, 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 years ended December 31, 2020 and 2019, no shares were issued under the 2014 ESPP. On January 1, 2021, pursuant to the increase per the 2014 ESPP, the number of share authorized under the 2014 ESPP was increased by 7,025 shares to 25,037 shares.

Restricted Stock Units

Awards to Directors

The following restricted stock units ("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 or (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.

During the year ended December 31, 2020, the Board of Directors granted an aggregate of 316,000 RSUs to directors of the Company. Of these RSUs, 254,000 vest 12.5% on the date of grant and in twenty-one equal monthly installments thereafter and the remaining 62,000 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 $9,480.

Awards to Others

During the year ended December 31, 2019, the Board of Directors granted of 5,245 RSUs to a consultant. The RSUs were granted under the Company's 2017 Equity Incentive Plan. The RSUs vested in five equal installments of 1,049 units on the 15th and 30th of each month, beginning on October 30, 2019. The grant date fair value of this RSU was $36.

During the year December 31, 2020, Board of Directors granted an aggregate of 163,325 RSUs to employees of the Company. These RSUs will vest 25% on each of the first, second, third and fourth year anniversaries of the date of grant. The grant date fair value of these RSUs was $4,887.

Following is a summary of restricted stock unit activities for the year ended December 31, 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		(148,334	)		30.00
Non-vested 12/31/2020		274,616		$	29.95

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 December 31, 2020, the unamortized value of RSUs was $6,299. As of December 31, 2020, the weighted average remaining amortization period was 1.81 years. As of December 31, 2020 and 2019, 132,709 and 5,245 RSUs, respectively, have vested that have not yet been settled into shares of the Company's Common Stock.

During the year ended December 31, 2020, the Company issued 20,870 shares of Common Stock from the settlement of RSUs.

Restricted Stock Units Modification

On July 23, 2020, the Company agreed to accelerate the vesting of 5,687 RSUs of a former executive. The Company recorded a charge of $152 during the year ended December 31, 2020 to research and development expense within the Company's consolidated statements of operations in connection with the modification of this award.

Stock Option Grants

Options to Directors

During the year ended December 31, 2019, the Board of Directors granted options for the purchase of 47,114 shares of the Company's common stock to members of the board of directors. These options were granted under the Company's 2017 Equity Incentive Plan, had an exercise price of $9.18 per share and a term of 10 years. These options vest ratably over approximately four years. The options had a grant date fair value of $317.

During the year ended December 31, 2020, the Board of Directors granted options for the purchase of 80,250 shares of the Company's common stock to members of the board of directors. These options were granted under the Company's 2014 Equity Incentive Plan, had an exercise price ranging from $26.70 to $35.00 per share and a term of 10 years. These options vest ratably over approximately one year. The options had a grant date fair value of $1,903.

Options to Employees

During the year ended December 31, 2019, the Board of Directors granted options for the purchase of 50,549 shares of the Company's common stock to employees of the Company. These options were granted under the Company's 2017 Equity Incentive Plan, had an exercise price of $9.18 per share and a term of 10 years. These options vest ratably over approximately four years. The options had a grant date fair value of $322.

During the year ended December 31, 2020, the Board of Directors granted options for the purchase of 484,850 shares of the Company's common stock to employees of the Company. These options were granted under the Company's 2014 Equity Incentive Plan, had an exercise price ranging from $17.84 to $51.12 per share and a term of 10 years. These options vest ratably over approximately four years. The options had a grant date fair value of $10,867.

Stock Option Modifications

Effective July 20, 2020, a former director notified the Company of his resignation from the Company's Board of Directors. In connection with his resignation, the Compensation Committee approved the accelerated vesting of all stock options issued to him 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 his options, the Company recorded the incremental value of $501 during the year ended December 31, 2020 to general and administrative expense within the Company's 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 Years Ended December 31,
	2020	2019
Stock price	$ 17.84 - $ 51.12	$ 6.81 - $ 8.65
Exercise price	$ 17.84 - $ 51.12	$ 9.18
Dividend yield	0.00%	0.00%
Expected volatility	95.00% - 101.00%	97.00%
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 year ended December 31, 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		565,100			22.61		29.23		-		-
Exercised		(57,767	)		6.72		9.18		-		-
Forfeited		(52,886	)		14.08		18.91		-		-
Outstanding 12/31/2020		674,039		$	20.60	$	25.23		9.06	$	2,311

Exercisable as of 12/31/2020		109,117		$	11.44	$	15.63		8.25	$	1,201

The weighted average grant date fair value of the options granted during the year ended December 31, 2019 was $6.55 per share. The fair value of stock options is amortized on a straight line basis over the requisite service periods of the respective awards. As of December 31, 2020, the unamortized value of stock options was $9,973. As of December 31, 2020, the weighted average remaining amortization period was 3.00 years.

Summary of Stock-Based Compensation Expense

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

	For the Years Ended December 31,
	2020		2019
Restricted stock	$	-	$	75
RSUs		6,357		36
Stock options		3,389		313
Total	$	9,746	$	424

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

	For the Years Ended December 31,
	2020		2019
Research and development	$	741	$	200
General and administrative		9,005		224
Total	$	9,746	$	424

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 10 – INCOME TAXES

Federal and State income tax expense is as follows:

	For the Years Ended December 31,
	2020			2019
Current
Federal	$	-		$	-
State		-			-
Total current		-			-
Deferred
Federal		(6,211	)		(1,614	)
State		(2,439	)		(930	)
Total deferred		(8,650	)		(2,544	)
Change in valuation allowance		8,650			2,544
Total income tax expense (benefit)	$	-		$	-

Deferred income taxes, if applicable, are provided for the differences between the basis of assets and liabilities for financial reporting and income tax purposes.

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets are as follows:

	As of December 31,
	2020			2019
Deferred tax assets:
Net operating loss carry forwards	$	19,371		$	3,806
Organization costs/legal fees		8			9
Stock option expense		443			111
Research and development credits		70			-
Operating lease liability		330			-
Restricted stock expense		-			238
RSU expense		1,796			12
Charitable contributions		2			2
Total deferred tax assets		22,020			4,178
Valuation allowance		(21,698	)		(4,176	)
Deferred tax assets, net of valuation allowance		322			2
Deferred tax liabilities:
Operating right-of-use asset		(322	)		-
Depreciation		-			(2	)
Total deferred tax liabilities		(322	)		(2	)
Deferred tax assets, net of valuation allowance and deferred tax liabilities	$	-		$	-

A reconciliation of the provision for income taxes with the amounts computed by applying the statutory Federal income tax to income before provision for income taxes is as follows:

	For the Years Ended December 31,
	2020			2019
U.S. federal statutory rate		(21.0	)%		(21.0	)%
State taxes, net of federal benefit		(9.4	)%		(12.1	)%
Option expense		1.2	%		0.5	%
Other		1.9	%		0.1	%
True-up to prior years return		1.8	%		-	%
Change in valuation allowance		25.5	%		32.5	%
Effective tax rate		-	%		-	%

As of December 31, 2020 for U.S. federal and state income tax reporting purposes, the Company has approximately $63.7 million of unused net operating losses ("NOLs") available for carry forward to future years. The 2018 - 2020 federal NOLs may be carried forward indefinitely. The Company does not have the ability to carry any of these losses back. The New York state and city NOLs may be carried forward through the year 2040 and may be applied against future taxable income. Because United States tax laws limit the time during which NOL carry forwards may be applied against future taxable income, the Company may be unable to take full advantage of its NOLs for federal and state income tax purposes when the Company does generate taxable income. Further, the benefit from utilization of NOL carry forwards could be subject to limitations due to material ownership changes that could occur as the Company continues to issue additional shares of common stock pursuant to its capital raising plans. Based on such limitations, the Company has significant NOLs for which realization of tax benefits is uncertain.

On January 9, 2020, the Company completed the Merger. In connection with the Merger, the Company acquired NOL's from Proteon of $41.6 million. These NOLs were determined to be impaired by $12.4 million, with an annual limitation of $0.5 million on the remaining $29.2 million of NOLs. The general business credits of $3.6 million acquired in the merger were determined to be fully impaired.

As a result of the Merger, the company performed a study to review the application of IRC §382 to the Company. It was determined there was an ownership change as of January 9, 2020 and the Company's NOLs generated prior to January 9, 2020 would be limited. The annual limitation of the Company's NOL's after application of the IRC §382 are $1.4 million.

The Company remains subject to examination by tax authorities for tax years 2018 through 2020. The Company has identified its federal tax return and its state tax return in New York state and New York City as its "major" tax jurisdictions.

Based on a history of cumulative losses at the Company and the results of operations for the years ended December 31, 2020 and 2019, the Company determined that it is more likely than not that it will not realize benefits from the net deferred tax assets. The Company will not record income tax benefits in the financial statements until it is determined that it is more likely than not that the Company will generate sufficient taxable income to realize the deferred income tax assets. As a result of the analysis, the Company determined that a full valuation allowance against the deferred tax assets was required. As of December 31, 2020 and 2019, the Company has recorded a valuation allowance of $21.7 million and $4.2 million, respectively.

As of December 31, 2020 and 2019, management does not believe that the Company has any material uncertain tax positions that would require it to measure and reflect the potential lack of sustainability of a position on audit in its consolidated financial statements. The Company will continue to evaluate its uncertain tax positions in future periods to determine if measurement and recognition in its financial statements is necessary. The Company does not believe there will be any material changes in its unrecognized tax positions over the next year.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Principles of Consolidation

Principles of Consolidation

Use of Estimates

Cash and cash equivalents

Restricted Cash

Property and Equipment

Property and Equipment

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 Years Ended December 31,
	2020		2019
Stock options		674,039		219,592
Restricted stock units		407,325		5,245
Conversion of Series 1 Convertible Preferred Stock		8,029,039		-
Total potentially dilutive shares		9,110,403		224,837

Concentrations of Credit Risk

Stock-Based Compensation

Fair Value Measurements

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

	Ø	Level 1 Quoted prices in active markets for identical assets or liabilities.
	Ø	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.
	Ø	Level 3 Significant unobservable inputs that cannot be corroborated by market data.

Income Taxes

Income Taxes

Research and Development Costs

Research and development expenses were $11,982 and $3,878 for the years ended December 31, 2020 and 2019, respectively.

Business Combinations

Business Combinations

Recent Accounting Pronouncements Adopted

Recent Accounting Pronouncements Adopted

Subsequent Events

Subsequent Events

Business, Liquidity and Capital Resources (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Oct. 06, 2020	Sep. 24, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business, Liquidity and Capital Resources (Textual)
Cash and cash equivalents			$ 168,598	$ 564
Net losses			(33,978)	(7,830)
Working capital			166,520
Stockholders' equity			199,243	(2,128)	$ 4,778
Net cash used in operating activities			(23,407)	(5,011)
Non stock based compensation			9,746	$ 424
Net of offering costs			39,600,000
Gross proceeds	$ 11,600,000	$ 147,600,000	$ 42,500,000
Net proceeds	$ 11,100,000	$ 139,900,000

Reverse Merger with Protara and Recapitalization (Details Textual) $ in Thousands		12 Months Ended
	Jan. 09, 2020 shares	Dec. 31, 2020 USD ($) shares	Jan. 02, 2020 shares
Reverse Merger with Artara and Recapitalization (Textual)
Reverse stock split		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 \| $		$ 34,533
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
Goodwill related \| $		$ 150,000
Prepaid expenses \| $		78
Accrued expenses \| $		$ 77
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 $27,200 and proceeds, net of issuance costs, of $25,319, (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 $13,300 and proceeds, net of issuance costs, of $12,413 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 $2,000 and proceeds, net of issuance costs, of $1,867. 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 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

Commitments and Contingencies (Details 1) $ in Thousands	Dec. 31, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021	$ 1,111
2022	1,333
2023	1,338
2024	1,342
2025	1,423
Thereafter	3,277
Total future minimum lease payments, undiscounted	9,824
Less: Imputed interest for leases in excess of one year	8,676
Present value of future minimum lease payments	1,148
Present value of future minimum lease payments for our operating lease liabilities	1,087
Present value of future minimum lease payments, short-term leases	$ 61

Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands				1 Months Ended			12 Months Ended
	Oct. 02, 2020	Oct. 02, 2019	Dec. 06, 2018	Nov. 28, 2018	Dec. 22, 2017	Sep. 27, 2017	Dec. 31, 2020	Dec. 31, 2019	Jan. 09, 2020	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) 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 triggered a financing milestone obligation and accordingly the Feinstein Institute was paid $100. 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.
Lease term							87 months
Temporary Employment Agreement [Member]
Commitments (Textual)
Annual base salary			$ 90
Compensation obligation									$ 462
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 on October 2, 2017, and license payments of $50 and $50 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 (the "Choline License Fee"). Upon the Company receiving $5,000 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 if the funds are received by October 15, 2019.
Research and development expenses							$ 0	$ 200
Clinical Services Agreements [Member] \| Dr. Buchman [Member]
Commitments (Textual)
Choline License Fee	$ 50	$ 50
Accrued expenses								550
Feinstein Agreement [Member]
Commitments (Textual)
Research and development expenses							115	1
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) 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 TARA-002 by the FDA, the Company would pay up to $1,750 to the University of Iowa for meeting these milestones. Furthermore, the Company would pay the University of Iowa royalties of up to 1.75% for net sales ranging from $0 - $25,000, 2.25% for net sales ranging from $25,000 to $50,000, and 2.50% for net sales in excess of $50,000. Pursuant to the Iowa Agreement, the University of Iowa would be entitled to additional payments for the Company achieving annual net sales of product according to the milestones. For annual net sales of product up to $25,000; $62; for annual net sales of product of up to $50,000; $62; and for annual net sales of product of up to $100,000; $125.
Research and development expenses							30	30
Chugai Pharmaceutical Agreement [Member]
Commitments (Textual)
Compensation obligation								500
Research and development expenses							$ 0	$ 500

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended		12 Months Ended
	Oct. 06, 2020	Sep. 24, 2020	Sep. 23, 2019	Dec. 31, 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				11,211,840		2,627,533
Common stock, shares outstanding				11,211,840		2,627,533
Preferred shares of par value				$ 0.001		$ 0.001
Preferred stock, shares authorized				10,000,000		10,000,000
Shares issued, price per share			$ 7.23
Gross proceeds			$ 500
Common stock issuance and outstanding, percentage				9.99%
Maximum aggregate offering price			$ 300,000
Issuance of common stock			69,114
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
Net proceeds		$ 73,600
Granted option to purchase		690,000
Over-Allotment Option [Member]
Stockholders' Equity (Textual)
Gross proceeds	$ 11,600
Net proceeds	$ 11,100
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
Net proceeds		$ 66,300
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 2) - Options [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares
Options
Balance at beginning \| shares	219,592
Granted \| shares	565,100
Exercised \| shares	(57,767)
Forfeited \| shares	(52,886)
Balance at ending \| shares	674,039
Exercisable \| shares	109,117
Weighted Average Grant Date Fair Value
Balance at beginning	$ 7.29
Granted	22.61
Exercised	6.72
Forfeited	14.08
Balance at ending	20.60
Exercisable	11.44
Weighted Average Exercise Price
Balance at beginning	9.18
Granted	29.23
Exercised	9.18
Forfeited	18.91
Balance at ending	25.23
Exercisable	$ 15.63
Weighted Average Remaining Contractual Term (years)
Balance at beginning	9 years 8 months 19 days
Balance at ending	9 years 22 days
Exercisable	8 years 2 months 30 days
Aggregate Intrinsic Value
Balance at beginning \| $
Granted \| $
Balance at ending \| $	2,311
Exercisable \| $	$ 1,201

Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Jan. 09, 2020	Oct. 03, 2014	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2021	Jul. 23, 2020	Aug. 10, 2017
Stock Based Compensation (Textual)
Shares available for issuance	2,627,533
Common stock, shares authorized			100,000,000	100,000,000
Common stock, shares issued			11,211,840	2,627,533
Stock Option [Member]
Stock Based Compensation (Textual)
Grant date fair value			$ 20.60	$ 7.29
Weighted average grant date fair value				6.55
Weighted average remaining amortization period			3 years
Unamortized value of stock			$ 9,973
Incremental value			$ 501
Restricted Stock Units (RSUs) [Member]
Stock Based Compensation (Textual)
Common stock, shares issued			20,870
Grant date fair value			$ 29.95
Unamortized value of RSUs			$ 6,299
Number of RSUs			132,709	5,245
Weighted average remaining amortization period			1 year 9 months 22 days
Vested shares						5,687
Amount of charges			$ 152
Restricted Stock Units (RSUs) [Member] \| Directors One [Member]
Stock Based Compensation (Textual)
Issuance of common stock			$ 316,000
Vested options, percentage			12.50%
Grant date fair value			$ 9,480
Vested shares			254,000
Restricted Stock Units (RSUs) [Member] \| Directors Two [Member]
Stock Based Compensation (Textual)
Vested options, percentage			50.00%
Vested shares			62,000
Restricted Stock Units (RSUs) [Member] \| Consultant [Member]
Stock Based Compensation (Textual)
Sale of stock, description				The Board of Directors granted of 5,245 RSUs to a consultant. The RSUs were granted under the Company's 2017 Equity Incentive Plan. The RSUs vested in five equal installments of 1,049 units on the 15th and 30th of each month, beginning on October 30, 2019. The grant date fair value of this RSU was $36.
Restricted Stock Units (RSUs) [Member] \| Employees [Member]
Stock Based Compensation (Textual)
Issuance of common stock			$ 163,325
Vested options, percentage			25.00%
Grant date fair value			$ 4,887
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
Common stock, shares issued			13,340
2014 Employee Stock Purchase Plan [Member] \| Subsequent Event [Member] \| Minimum [Member]
Stock Based Compensation (Textual)
Common stock, shares authorized					7,025
2014 Employee Stock Purchase Plan [Member] \| Subsequent Event [Member] \| Maximum [Member]
Stock Based Compensation (Textual)
Common stock, shares authorized					25,037
2014 Equity Incentive Plan [Member]
Stock Based Compensation (Textual)
Shares available for issuance			227,850
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] \| Board Of Directors [Member]
Stock Based Compensation (Textual)
Issuance of common stock			$ 484,850
Grant date fair value			$ 10,867
Vest period			10 years
2014 Equity Incentive Plan [Member] \| Minimum [Member] \| Board Of Directors [Member]
Stock Based Compensation (Textual)
Exercise price			$ 17.84
2014 Equity Incentive Plan [Member] \| Maximum [Member] \| Board Of Directors [Member]
Stock Based Compensation (Textual)
Exercise price			$ 51.12
2014 Equity Incentive Plan [Member] \| Subsequent Event [Member] \| Minimum [Member]
Stock Based Compensation (Textual)
Common stock, shares authorized					812,889
2014 Equity Incentive Plan [Member] \| Subsequent Event [Member] \| Maximum [Member]
Stock Based Compensation (Textual)
Common stock, shares authorized					1,861,189
2020 Inducement Plan [Member]
Stock Based Compensation (Textual)
Issuance of common stock			$ 600,000
Shares available for issuance			460,650
2017 Equity Incentive Plan [Member]
Stock Based Compensation (Textual)
Shares available for issuance							2,000,000
2017 Equity Incentive Plan [Member] \| Board Of Directors [Member]
Stock Based Compensation (Textual)
Issuance of common stock				$ 47,114
Grant date fair value				$ 317
Exercise price				$ 9.18
Vest period				10 years

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current
Federal
State
Total current
Deferred
Federal	(6,211)	(1,614)
State	(2,439)	(930)
Total deferred	(8,650)	(2,544)
Change in valuation allowance	8,650	2,544
Total income tax expense (benefit)

Income Taxes (Details 1) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net operating loss carry forwards	$ 19,371	$ 3,806
Organization costs/legal fees	8	9
Stock option expense	443	111
Research and development credits	70
Operating lease liability	330
Restricted stock expense		238
RSU expense	1,796	12
Charitable contributions	2	2
Total deferred tax assets	22,020	4,178
Valuation allowance	(21,698)	(4,176)
Deferred tax assets, net of valuation allowance	322	2
Deferred tax liabilities:
Operating right-of-use asset	(322)
Depreciation		(2)
Total deferred tax liabilities	(322)	(2)
Deferred tax assets, net of valuation allowance and deferred tax liabilities

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property and equipment not yet placed into service	$ 503	$ 8
Total property and equipment, gross	1,359	475
Less: Accumulated depreciation	(119)	(16)
Total property and equipment, net	1,240	459
Computer equipment [Member]
Total property and equipment, gross	$ 34
Property, plant and equipment, useful life	5 years
Laboratory equipment [Member]
Total property and equipment, gross	$ 601	446
Property, plant and equipment, useful life	7 years
Furniture, fixtures and other [Member]
Total property and equipment, gross	$ 21	21
Property, plant and equipment, useful life	5 years
Leasehold improvements [Member]
Total property and equipment, gross	$ 200

Property and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property and Equipment (Textual)
Depreciation expense	$ 103	$ 16
General and Administrative Expense [Member]
Property and Equipment (Textual)
Depreciation expense	4	0
Research and Development Expense [Member]
Property and Equipment (Textual)
Depreciation expense	$ 99	$ 16

Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Employee bonus	$ 1,530
Taxes	159
Legal fees	156	1,573
Research and development costs	37	1,050
Other expenses	31	12
Total	$ 1,913	$ 2,635

Short-Term Debt (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
Short-Term Debt (Details) - USD ($) $ in Thousands	Feb. 19, 2020	Dec. 31, 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 $2,225. The Company made a down payment of $556, leaving a principal balance of $1,669. The financing bore interest at a rate of 4.25% per annum, and was repaid in monthly installments of $189, which included both principal and interest.
Debt amount		$ 0
Interest expense		$ 34

Stock-Based Compensation (Details) - Restricted stock unit [Member]	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Restricted Stock Units
Balance at beginning \| shares
Granted \| shares	479,325
Forfeited \| shares	(56,375)
Vested \| shares	(148,334)
Balance at ending \| shares	274,616
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	$ 29.95

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 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	11,211,840	2,627,533
Common stock, shares outstanding	11,211,840	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

Stock-Based Compensation (Details 1) - $ / shares	12 Months Ended
Stock-Based Compensation (Details 1) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Exercise price		$ 9.18
Dividend yield	0.00%	0.00%
Minimum [Member]
Stock price	$ 17.84	$ 6.81
Exercise price	$ 17.84	$ 6.81
Expected volatility	95.00%	97.00%
Risk-free interest rate	0.28%	1.71%
Expected life (in years)	5 years 3 months 8 days	5 years 6 months 29 days
Maximum [Member]
Stock price	$ 51.12	$ 8.65
Exercise price	$ 51.12	$ 8.65
Expected volatility	101.00%	97.00%
Risk-free interest rate	1.69%	2.37%
Expected life (in years)	6 years 29 days	6 years 7 days

Stock-Based Compensation (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Total stock-based compensation	$ 9,746	$ 424
Restricted stock [Member]
Total stock-based compensation		75
RSUs [Member]
Total stock-based compensation	6,357	36
Stock options [Member]
Total stock-based compensation	$ 3,389	$ 313

Income Taxes (Details 2)	12 Months Ended
Income Taxes (Details 2)	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	(21.00%)	(21.00%)
State taxes, net of federal benefit	(9.40%)	(12.10%)
Option expense	1.20%	0.50%
Other	1.90%	0.10%
True-up to prior years return	1.80%
Change in valuation allowance	25.50%	32.50%
Effective tax rate

Income Taxes (Details Textual) - USD ($) $ in Thousands		12 Months Ended
Income Taxes (Details Textual) - USD ($) $ in Thousands	Jan. 09, 2020	Dec. 31, 2020	Dec. 31, 2019
Income Taxes (Textual)
Net operating loss and credit carryovers		$ 63,700
Valuation allowance		21,700	$ 4,200
Net operating loss after application		$ 1,400
Merger, description	The Company acquired NOL's from Proteon of $41.6 million. These NOLs were determined to be impaired by $12.4 million, with an annual limitation of $0.5 million on the remaining $29.2 million of NOLs. The general business credits of $3.6 million acquired in the merger were determined to be fully impaired.

Employee Benefit Plan (Details) $ in Thousands	12 Months Ended
Employee Benefit Plan (Details) $ in Thousands	Dec. 31, 2020 USD ($)
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	$ 69