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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2019 shares
Document and Entity Information [Abstract]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	Akari Therapeutics PLC
Entity Central Index Key	0001541157
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Trading Symbol	AKTX
Entity Common Stock, Shares Outstanding	2,245,865,913
Entity Shell Company	false
Entity Emerging Growth Company	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current Assets:
Cash	$ 5,731,691	$ 5,446,138
Prepaid expenses and other current assets	712,975	1,423,184
Deferred financing costs	321,956	585,000
Total Current Assets	6,766,622	7,454,322
Restricted cash	0	521,829
Property and equipment, net	5,013	20,425
Patent acquisition costs, net	30,163	32,978
Total Assets	6,801,798	8,029,554
Current Liabilities:
Accounts payable	1,228,772	1,586,285
Accrued expenses	4,228,604	1,489,558
Liabilities related to options and warrants	3,116,880	1,842,424
Total Liabilities	8,574,256	4,918,267
Commitments and Contingencies
Shareholders' (Deficit) Equity:
Share capital of 0.01 par value Authorized: 10,000,000,000 ordinary shares; issued and outstanding: 2,245,865,913 and 1,580,693,413 at December 31, 2019 and 2018 respectively	31,987,016	23,651,277
Additional paid-in capital	110,498,824	106,616,083
Accumulated other comprehensive loss	(348,860)	(352,426)
Accumulated deficit	(143,909,438)	(126,803,647)
Total Shareholders' (Deficit) Equity	(1,772,458)	3,111,287
Total Liabilities and Shareholders' (Deficit) Equity	$ 6,801,798	$ 8,029,554

CONSOLIDATED BALANCE SHEETS (Parenthetical) - £ / shares	Dec. 31, 2019	Dec. 31, 2018
CONSOLIDATED BALANCE SHEETS
Common stock, par value	£ 0.01	£ 0.01
Common stock, shares authorized	10,000,000,000	10,000,000,000
Common stock, shares issued	2,245,865,913	1,580,693,413
Common stock, shares outstanding	2,245,865,913	1,580,693,413

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Expenses:
Research and development expenses	$ 8,739,420	$ 11,795,376	$ 23,285,279
General and administrative expenses	8,223,700	10,896,158	11,798,910
Litigation settlement (gain) loss	0	(2,700,000)	2,700,000
Total Operating Expenses	16,963,120	19,991,534	37,784,189
Loss from Operations	(16,963,120)	(19,991,534)	(37,784,189)
Other Income (Expenses):
Interest income	5,531	222,256	175,393
Changes in fair value of option and Warrant liabilities - (loss) gain	(60,640)	3,238,911	2,581,473
Foreign currency exchange (losses) gains	(67,256)	81,501	(358,540)
Other expenses	(20,306)	(17,914)	(13,394)
Total Other (Expenses) Income	(142,671)	3,524,754	2,384,932
Net Loss	(17,105,791)	(16,466,780)	(35,399,257)
Other Comprehensive Income (Loss):
Foreign Currency Translation Adjustment	3,566	(116,180)	43,851
Comprehensive Loss	$ (17,102,225)	$ (16,582,960)	$ (35,355,406)
Loss per ordinary share (basic and diluted)	$ (0.01)	$ (0.01)	$ (0.03)
Weighted average ordinary shares (basic and diluted)	1,830,998,609	1,540,309,840	1,247,293,388

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Total
Shareholders' Equity at Dec. 31, 2017	$ 22,927,534	$ 104,799,550	$ (236,246)	$ (110,336,867)	$ 17,153,971
Shareholders' Equity (in shares) at Dec. 31, 2017	1,525,693,393
Stock-based compensation	$ 0	1,649,044	0	0	1,649,044
Issuance of share capital to directors	$ 0		0	0	0
Issuance of share capital to directors (in shares)	20
Issuance of share capital related to financing, net of issuance costs	$ 723,743	167,489	0	0	891,232
Issuance of share capital related to financing, net of issuance costs (in shares)	55,000,000
Comprehensive income loss	$ 0	0	(116,180)	(16,466,780)	(16,582,960)
Shareholders' (Deficit) Equity at Dec. 31, 2018	$ 23,651,277	106,616,083	(352,426)	(126,803,647)	3,111,287
Shareholders' (Deficit) Equity (in shares) at Dec. 31, 2018	1,580,693,413
Stock-based compensation	$ 0	1,047,387	0	0	1,047,387
Issuance of share capital related to financing, net of issuance costs	$ 8,335,739	2,835,354	0	0	11,171,093
Issuance of share capital related to financing, net of issuance costs (in shares)	665,172,500
Comprehensive income loss	$ 0	0	3,566	(17,105,791)	(17,102,225)
Shareholders' (Deficit) Equity at Dec. 31, 2019	$ 31,987,016	$ 110,498,824	$ (348,860)	$ (143,909,438)	$ (1,772,458)
Shareholders' (Deficit) Equity (in shares) at Dec. 31, 2019	2,245,865,913

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities:
Net loss	$ (17,105,791)	$ (16,466,780)	$ (35,399,257)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	19,205	35,848	42,400
Stock-based compensation	1,047,387	1,649,044	2,734,946
Litigation settlement loss	0	0	2,700,000
Changes in fair value of the liability for options and warrants - gains	60,640	(3,238,911)	(2,581,473)
Foreign currency exchange (gains) losses	(30,366)	(104,719)	93,402
(Increase) decrease in assets:
Prepaid expenses and other current assets	710,335	(716,859)	807,408
(Decrease) increase in liabilities:
Accounts payable and accrued expenses	2,380,277	(3,689,860)	12,222
Other liabilities	0	(48,003)	(8,357)
Total adjustments	4,187,478	(6,113,460)	3,800,548
Net Cash Used in Operating Activities	(12,918,313)	(22,580,240)	(31,598,709)
Cash Flows from Investing Activities:
Purchase of property and equipment	0	0	(36,885)
Maturities of short-term investments	0	0	10,021,963
Net Cash Provided by Investing Activities	0	0	9,985,078
Cash Flows from Financing Activities:
Net proceeds from issuance of ordinary shares	12,647,953	306,232	15,671,881
Net Cash Provided by Financing Activities	12,647,953	306,232	15,671,881
Effect of Exchange Rates on Cash and Restricted Cash	34,084	(6,931)	(50,324)
Net Decrease in Cash and Restricted Cash	(236,276)	(22,280,939)	(5,992,074)
Cash and Restricted Cash, beginning of year	5,967,967	28,248,906	34,240,980
Cash and Restricted Cash, end of year (a)	5,731,691	5,967,967	28,248,906
Supplemental Disclosures of Cash Flow Information:
Deferred financing costs	$ 263,044	$ 585,000	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
(a) The following table provides a reconciliation of Cash and Restricted Cash to amounts presented within the consolidated balance sheets:
Cash	$ 5,731,691	$ 5,446,138	$ 28,106,671
Restricted Cash	0	521,829	142,235
Cash and Restricted Cash, end	$ 5,731,691	$ 5,967,967	$ 28,248,906

Nature of Business	12 Months Ended
Nature of Business	Dec. 31, 2019
Nature of Business
Nature of Business	NOTE 1 – Nature of Business Akari Therapeutics, Plc, (the “Company” or “Akari”) is incorporated in the United Kingdom. The Company is a clinical-stage biopharmaceutical company focused on developing inhibitors of acute and chronic inflammation, specifically the complement system, the eicosanoid system and the bioamine system for the treatment of rare and orphan diseases. The Company’s activities since inception have consisted of performing research and development activities and raising capital. To fund its capital needs, the Company plans to raise funds through equity or debt financings or other sources, such as strategic partnerships and alliance and licensing arrangements, and in the long term, proceeds from sales of commercial product. As of December 31, 2019, the Company has an accumulated deficit of $143,909,438, cash of $5,731,691 and negative cash flows from operating activities in the amount of $12,918,313. On September 26, 2018, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with Aspire Capital Fund, LLC, an Illinois limited liability company (“Aspire Capital”), which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $20.0 million of the Company’s ADSs over the 30‑month term of the Purchase Agreement (See Note 4). As of December 31, 2019, $10,731,875 remains available under the facility. The Company believes its current capital resources are sufficient to support its operations through the end of the second quarter of 2020 without giving effect to the sale of additional shares to Aspire Capital under the Purchase Agreement. The Company is subject to a number of risks similar to those of clinical stage companies, including dependence on key individuals, uncertainty of product development and generation of revenues, dependence on outside sources of capital, risks associated with clinical trials of products, dependence on third-party collaborators for research operations, need for regulatory approval of products, risks associated with protection of intellectual property, and competition with larger, better-capitalized companies. In addition, the Company is subject to risks related to an SEC investigation and the coronavirus outbreak. For the year ended December 31, 2019, the Company reported a net loss of $17,105,791 and expects to continue to incur substantial losses over the next several years during its development phase. To fully execute its business plan, the Company will need, among other things, to complete its research and development efforts and clinical and regulatory activities. These activities may take several years and will require significant operating and capital expenditures in the foreseeable future. There can be no assurance that these activities will be successful. If the Company is not successful in these activities or there is not a favorable resolution of the SEC investigation it could delay, limit, reduce or terminate preclinical studies, clinical trials or other research and development activities. To fund its capital needs, the Company plans to raise funds through equity or debt financings or other sources, such as strategic partnerships and alliance and licensing arrangements, and in the long term, from the proceeds from sales. Additional funds may not be available when the Company needs them, on terms that are acceptable to it, or at all. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to the carrying amounts and classifications of assets and liabilities that would result if the Company was unable to continue as a going concern.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

NOTE 2 – Summary of Significant Accounting Policies

Basis of Presentation - The accompanying financial statements have been prepared in conformity with U.S. GAAP and the rules and regulations of the SEC, assuming that the Company will continue to operate as a going concern.

Principles of Consolidation – The Consolidated Financial Statements include the accounts of the Company and Volution Immuno Pharmaceuticals SA, a private Swiss company, its wholly-owned subsidiary. All intercompany transactions have been eliminated.

Foreign Currency – The functional currency of the Company is U.S. dollars as that is the primary economic environment in which the Company operates as well as the currency in which it has been financed.

The reporting currency of the Company is U.S. Dollars. The Company translated its non-U.S. operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations are recorded as foreign currency translation adjustments, a component of accumulated other comprehensive loss. Gains or losses from foreign currency transactions are included in foreign currency exchange gains/(losses).

Use of Estimates – The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that may affect the reported amounts of assets, liabilities, equity, revenue, expenses and related disclosure of contingent assets and liabilities. Management’s estimates and judgments include assumptions used in the evaluation of impairment and useful lives of intangible assets (patents), accrued liabilities, deferred income taxes, liabilities related to stock options and warrants, stock-based compensation and various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from those estimates under different assumptions or conditions.

Fair Value Measurements – The carrying amounts of financial instruments, including cash, restricted cash, prepaid expenses and other current assets, deferred financing costs, accounts payable and accrued expenses approximate fair value due to their short-term maturities.

The Company’s liabilities related to options and warrants relate to equity and debt financing rounds and options related to RPC Pharma Limited (“RPC”), Akari’s largest shareholder, and unregistered warrants issued to investors and a placement agent in connection with the July 3, 2019 registered direct offering. The liability related to RPC Options was recognized on the Consolidated Balance Sheet at their fair value, with changes in the fair value accounted for in the Consolidated Statements of Comprehensive Loss and included in changes in fair value of options and warrants liabilities (loss) gain.

The Company accounts for unregistered warrants issued to investors and a placement agent in connection with the July 3, 2019 registered direct offering as a warrant liability on the balance sheet and measured at their grant date fair value and subsequently re-measured at each reporting period, with changes being recorded in Consolidated Statements of Comprehensive Loss and included in changes in fair value of option liabilities (loss) gain (See Note 3).

Cash – The Company considers all highly-liquid investments with original maturities of 90 days or less at the time of acquisition to be cash equivalents. The Company had no cash equivalents as of December 31, 2019 and December 31, 2018.

Restricted Cash - Restricted Cash was collateral for a letter of credit related to the Company’s former office leases which terminated in 2018.

Prepaid Expenses and Other Current Assets – Prepaid expenses and other current assets consist principally of prepaid expenses and VAT receivables.

Deferred Financing Costs – Deferred financing costs relate to the upfront commitment fee paid to Aspire Capital in the form of ordinary shares and are included in current assets. They are amortized proportionally as the Company sells shares to Aspire Capital.

Property and equipment, net – Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets at the following annual rates:


		Years

Computers, peripheral, and scientific equipment		3
Office furniture and equipment		3

Property and equipment, consists of the following:


		December 31,		December 31,
		2019		2018
Computers, peripheral, and scientific equipment	$	85,489	$	85,489
Office furniture and equipment		79,449		79,449
Total property and equipment		164,938		164,938
Less: Accumulated depreciation		(159,925)		(144,513)
Property and equipment, net	$	5,013	$	20,425

Depreciation expense for the years ended December 31, 2019, 2018 and 2017 was $15,412, $35,473 and $39,351, respectively , and was recorded in both research and development expenses and general and administrative expenses in the consolidated statements of operations and comprehensive loss.

Long-Lived Assets – The Company reviews all long-lived assets for impairment whenever events or circumstances indicate the carrying amount of such assets may not be recoverable. Recoverability of assets to be held or used is measured by comparison of the carrying value of the asset to the future undiscounted net cash flows expected to be generated by the asset. If such asset is considered to be impaired, the impairment recognized is measured by the amount by which the carrying value of the asset exceeds the discounted future cash flows expected to be generated by the asset.

Patent Acquisition Costs – Patent acquisition costs and related capitalized legal fees are amortized on a straight-line basis over the shorter of the legal or economic life. The estimated useful life is 22 years. The Company expenses costs associated with maintaining and defending patents subsequent to their issuance in the period incurred. Amortization of patent acquisition costs for the years ended December 31, 2019, 2018 and 2017 was $3,793, $375 and $3,049, respectively.

Accrued Expenses – As part of the process of preparing the consolidated financial statements, the Company estimates accrued expenses. This process involves identifying services that third parties have performed on the Company’s behalf and estimating the level of service performed and the associated cost incurred on these services as of each balance sheet date in the Company’s consolidated financial statements. Examples of estimated accrued expenses include contract service fees in conjunction with pre-clinical and clinical trials, professional service fees and contingent liabilities. In connection with these service fees, the Company’s estimates are most affected by its understanding of the status and timing of services provided relative to the actual services incurred by the service providers. In the event that the Company does not identify certain costs that have been incurred or it under or over-estimates the level of services or costs of such services, the Company’s reported expenses for a reporting period could be understated or overstated. The date on which certain services commence, the level of services performed on or before a given date, and the cost of services are often subject to the Company’s estimation and judgment. The Company makes these judgments based upon the facts and circumstances known to it in accordance with U.S. GAAP.

Research and Development Expenses – Costs associated with research and development are expensed as incurred unless there is an alternative future use in other research and development projects. Research and development expenses include, among other costs, salaries and personnel-related expenses, fees paid for contract research services, fees paid to clinical research organizations, costs incurred by outside laboratories, manufacturers’ and other accredited facilities in connection with clinical trials and preclinical studies.

Payments made prior to the receipt of goods or services to be used in research and development are capitalized until the goods or services are received. The Company records expenses related to clinical studies and manufacturing development activities based on its estimates of the services received and efforts expended pursuant to contracts with multiple contract research organizations (CROs) and manufacturing vendors that conduct and manage these activities on its behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract, and may result in uneven payment flows. There may be instances in which payments made to the Company's vendors will exceed the level of services provided and result in a prepayment of the expense. Payments under some of these contracts depend on factors such as the successful enrollment of subjects and the completion of clinical study milestones. In amortizing or accruing service fees, the Company estimates the time period over which services will be performed, enrollment of subjects, number of sites activated and the level of effort to be expended in each period. If the actual timing of the performance of services or the level of effort varies from the Company's estimate, the Company will adjust the accrued or prepaid expense balance accordingly.

Research and development expenses for the years ended December 31, 2019, 2018 and 2017 were $8,739,420, $11,795,376 and $23,285,279, respectively. The Company accounts for research and development tax credits at the time its realization becomes probable as a credit to research and development expenses in the Consolidated Statements of Comprehensive Loss (See Note 8). The Company realized $7,907,213 of research and development tax credits in 2019 related to the 2018 and 2017 tax years, $3,794,094 in 2018 related to the 2016 tax year, and did not realize research and development credits in 2017.

Stock-Based Compensation Expense – Stock-based compensation expense is recorded using the fair-value based method for all awards granted. Compensation costs for stock options and awards is recorded in earnings (loss) over the requisite service period based on the fair value of those options and awards. For employees, fair value is estimated at the grant date, and for non-employees, fair value is re-measured at each reporting date as required by Accounting Standards Codification (ASC) 718, “Compensation-Stock Compensation ," and Accounting Standards Updates

(ASU) 2018-07, Compensation - Stock Compensation ." Stock options for non-employee directors for their services as directors acting in their role as members of a board of directors are treated as employees if those directors were elected by the employer's shareholders or appointed to a board position that will be filled by shareholder election when the existing term expires. Awards granted to those individuals for other services shall be accounted for as awards to non-employees. Fair values of awards granted under the share option plans are estimated using a Black-Scholes option pricing model. The determination of fair value for stock-based awards on the date of grant using an option pricing model requires management to make certain assumptions regarding a number of complex and subjective variables. The Company classifies its stock-based payments as either liability-classified awards or as equity-classified awards. The Company remeasures liability-classified awards to fair value at each balance sheet date until the award is settled. The liability for liability-classified awards generally is equal to the fair value of the award as of the balance sheet date multiplied by the percentage vested at the time. The Company charges (or credits) the change in the liability amount from one balance sheet date to another to changes in fair value of option and warrant liabilities (loss) gain. The Company accounts for awards of equity instruments issued to employees and directors under the fair value method of accounting and recognizes such amounts, upon vesting, in general administrative or research and development expenses within its Consolidated Statements of Comprehensive Loss.

Concentration of Credit Risk – Financial instruments that subject the Company to credit risk consist of cash. The Company maintains cash with well-capitalized financial institutions. At times, those amounts may exceed insured limits. The Company has no other significant concentrations of credit risk.

Income Taxes – The Company accounts for income taxes in accordance with the accounting rules that require an asset and liability approach to accounting for income taxes based upon the future expected values of the related assets and liabilities. Deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and for tax loss and credit carry forwards and are measured using the expected tax rates estimated to be in effect when such basis differences reverse. Valuation allowances are established, if necessary, to reduce the deferred tax asset to the amount that will, more likely than not, be realized. The Company has recorded a full valuation allowance on its deferred tax assets as of December 31, 2019 and December 31, 2018.

Uncertain Tax Positions – The Company follows the provisions of ASC 740 “Accounting for Uncertainty in Income Taxes”, which prescribes recognition thresholds that must be met before a tax position is recognized in the financial statements and provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. Under ASC 740 “Accounting for Uncertainty in Income Taxes,” an entity may only recognize or continue to recognize tax positions that meet a “more-likely-than-not” threshold. Interest and penalties related to uncertain tax positions are recognized as income tax expense. At December 31, 2019 and December 31, 2018, the Company had no uncertain tax positions.

Earnings (Loss) Per Share – Basic earnings (loss) per ordinary share is computed by dividing net income (loss) available to ordinary shareholders by the weighted-average number of ordinary shares outstanding during the period. Diluted earnings (loss) per ordinary share is computed by dividing net income (loss) available to ordinary shareholders by the sum of (1) the weighted-average number of ordinary shares outstanding during the period, (2) the dilutive effect of the assumed exercise of options and warrants using the treasury stock method and (3) the dilutive effect of other potentially dilutive securities. For purposes of the diluted net loss per share calculation, share options and warrants are considered to be potentially dilutive securities and are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive. Therefore, basic and diluted net loss per share was the same for the periods presented due to the Company’s net loss position.

Comprehensive Income (Loss) – Comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. The Company’s other comprehensive loss is comprised of foreign currency translation adjustments.

The following table provides details with respect to changes in accumulated other comprehensive loss, which is comprised of foreign currency translation adjustments, as presented in the balance sheets at December 31, 2019 and 2018:


Balance January 1, 2017	$	(280,097)
Net current period other comprehensive income		43,851
Balance December 31, 2017	$	(236,246)
Net current period other comprehensive loss		(116,180)
Balance December 31, 2018	$	(352,426)
Net current period other comprehensive income		3,566
Balance December 31, 2019	$	(348,860)

Recent Accounting Pronouncements

Adopted during year –

In February 2016, the FASB issued ASU No. 2016‑02, Leases (“ASU 2016‑02”). ASU 2016‑02 establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The adoption of this standard in 2019 did not have a material impact on the Company’s financial position, results of operations or related financial statement disclosures since the Company elected the option in the standard to not record a ROU asset and lease liability on the balance sheet for leases with terms less than 12 months.

In October 2016, the FASB issued ASU 2016‑16, Intra-Entity Transfers of Assets Other Than Inventory. This guidance removes the prohibition in ASC 740 against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. This guidance is intended to reduce the complexity of U.S. GAAP and diversity in practice related to the tax consequences of certain types of intra-entity asset transfers, particularly those involving intellectual property. This guidance is effective for annual reporting periods beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. The adoption of this standard in 2019 did not have a material impact on the Company's financial position, results of operations or related financial statements.

In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which simplifies the accounting for non-employee share-based payment transactions. The new standard expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non-employees. ASU 2018-07 is effective for fiscal years beginning after December 15, 2018 (including interim periods within that fiscal year). As the Company does not have a significant number of non-employee share based awards, the application of the new standard did not have a material impact on its consolidated financial statements.

Recently Issued Accounting Pronouncements Not Yet Adopted -.

On December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. The ASU enhances and simplifies various aspects of the income tax accounting guidance in ASC 740 and removes certain exceptions for recognizing deferred taxes for investments, performing intra-period allocation and calculating income taxes in interim periods. The ASU also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years with early adoption permitted. The Company is currently evaluating the impact the adoption of this guidance may have on its consolidated financial statements.

On August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which modifies certain disclosure requirements for reporting fair value measurements. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact the adoption of this guidance may have on its consolidated financial statements.

Fair Value Measurements

12 Months Ended

Dec. 31, 2019

Fair Value Measurements

Fair Value Measurements

NOTE 3 – Fair Value Measurements

Fair value of financial instruments:

The estimated fair value of financial instruments has been determined by the Company using available market information and valuation methodologies. Considerable judgment is required in estimating fair values. Accordingly, the estimates may not be indicative of the amounts the Company could realize in a current market exchange.

The carrying amounts of cash, restricted cash, prepaid expenses and other current assets, deferred financing costs, accounts payable and accrued expenses approximate their fair value due to the short-term maturity of such instruments.

Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820, Fair Value Measurements and Disclosures ("ASC 820") establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:

Level 1 - quoted prices in active markets for identical assets or liabilities;

Level 2 - inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or

Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

Liability related to RPC Options -

In June 2015, the Company raised short-term working capital in the form of loans from shareholders of approximately $3 million with the loans carrying with it, options in RPC, equivalent to 15% of the current outstanding equity issued by RPC. RPC is a private company that is a large shareholder of the Company.RPC Options were accounted for in accordance with ASC 718, Compensation – Stock Compensation. The fair value of RPC Options was estimated using the fair value of Akari Ordinary Shares times RPC’s ownership in Akari Ordinary Shares times 15% and was initially valued at approximately $26 million. These options do not relate to the share capital of Akari. The exact terms of these options have not been finalized.

In accordance with ASC 820, the Company measures its liability related to RPC Options on a recurring basis at fair value. The liability related to RPC Options are classified within Level 3 value hierarchy because the liabilities are based on present value calculations and external valuation models. Unobservable inputs used in these models are significant.

The fair value of the RPC options was $2,102,012 and $1,842,424 as of December 31, 2019 and December 31, 2018, respectively. The fair value of the RPC options for the year ended December 31, 2019 increased by $259,588 and for the year ended December 31, 2018 decreased by $3,238,911. The change was recognized as change in fair value of liability related to RPC Options from year to year, which represents a gain (loss), was recognized as changes in fair value of options and warrant liabilities gains (losses) in the Consolidated Statements of Comprehensive Loss. The Company accounts for RPC Options as a liability in accordance with ASC 815‑40‑25, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock and ASC 815‑40‑15, Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity’s Own Stock.

Liability Related to Paulson Warrants -

On July 3, 2019, the Company sold to certain institutional investors, accredited investors and an existing shareholder, RPC Pharma Ltd., an affiliated entity of Dr. Ray Prudo, the Company's Chairman, an aggregate of 2,368,392 ADSs in a registered direct offering at $1.90 per ADS, resulting in gross proceeds of approximately $4.5 million. The Company also entered into a letter agreement with Paulson Investment Company, LLC (the "Placement Agent") to serve as the placement agent for the Company in connection with this offering. In connection with the sale of the ADSs in this registered direct offering, the Company issued to the investors unregistered warrants to purchase an aggregate of 1,184,213 ADSs in a private placement ("Investor Warrants"). The Investor Warrants are immediately exercisable and will expire five years from issuance at an exercise price of $3.00 per ADS, subject to adjustment as set forth therein. Subject to certain conditions, the Company has the option to "call" the exercise of the warrants from time to time after any 10-consecutive trading day period during which the daily volume weighted average price of the ADSs exceeds $4.50. The Company paid to the Placement Agent an aggregate of $337,496 in placement agent fees and expenses and issued unregistered warrants to the Placement Agent to purchase an aggregate of 177,629 ADS ("Placement Agent Warrants") on the same terms as the Investor Warrants, except that the Placement Agent Warrants are exercisable at $2.85 per ADS and expire on June 28, 2024. Both the Investor Warrants and the Placement Agent Warrants (together the "Paulson Warrants") may be exercised on a cashless basis if six months after issuance there is no effective registration statement registering the ADSs underlying the warrants. Pursuant to the cashless exercise provision, the warrant holder must make an additional payment to the Company equal to the nominal value of an ADS (i.e., £1) per warrant ADS actually to be issued pursuant to the cashless exercise. The total amount of Paulson Warrants issued in connection with this registered direct offering amounted to 1,361,842, all of which were outstanding as of December 31, 2019.

The portion of costs directly attributable to realizing proceeds of issuing ADSs such as placement agent fees, commissions, legal and accounting fees pertaining to the financing and other external, incremental fees and expenses paid to advisors are recognized in the Shareholders (Deficit) Equity in the Consolidated Financial Statements in accordance with ASC 835-30-45-3.

The Company has determined that the Paulson Warrants represent freestanding financial instruments whose foreign currency considerations pursuant to cash and cashless exercise require liability classification and should be recorded as liability-classified awards in accordance with ASC 815-40-25, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company's Own Stock and ASC 815-40-15, Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity's Own Stock. In accordance with ASC 820, the Company measured its warrants at grant date fair value. The fair value related to warrants are classified within the Level 3 value hierarchy because it is based on external valuation models whose inputs include market interest rates, required return on capital, and standard deviation. Unobservable inputs used in these models are significant. The Paulson Warrants were measured at their grant date fair value and subsequently remeasured at each reporting period with changes being recorded as a component of Other Income (Expenses) in the Condensed Consolidated Statements of Comprehensive Loss. The total grant date fair value of these warrants was $1,213,816 and was recognized within Current Liabilities in the Condensed Consolidated Balance Sheets. The change in fair value of liability related to Paulson Warrants from period to period, which represents a gain of $198,948 for the year ended December 31, 2019, was recognized as change in fair value of option and warrant liabilities gains (losses) in the Condensed Consolidated Statements of Comprehensive Loss. At December 31, 2019, the fair value of the Paulson Warrants was $1,014,868.

Below are the assumptions used for the fair value calculations of the warrants as of:


	July 3,		December 31,
	2019		2019
Standard deviation	110.00	%	110.00	%
Annual risk-free interest rate	1.71	%	1.66	%
Required return on equity	19.90	%	19.90	%
Expected life in years	5.00		4.50
Annual turnover rate	0.00	%	0.00	%
Period risk-free rate	0.08	%	0.08	%

The Company had no financial assets that require fair value measurement on a recurring basis. The Company’s financial liabilities measured at fair value on a recurring basis, consisted of the following instruments as of the following dates:


	December 31,		December 31,
	2019		2018
RPC Options	$	2,102,012	$	1,842,424
Paulson Warrants		1,014,868		—
Total	$	3,116,880	$	1,842,424

Fair value measurements using significant unobservable inputs (Level 3):


	Fair value of
	liabilities related
	to options and warrants
Balance at December 31, 2017	$	5,081,335

Changes in values of liabilities related to options and warrants		(3,238,911)

Balance at December 31, 2018	$	1,842,424

Issuance of Paulson Warrants		1,213,816

Changes in values of liabilities related to options and warrants		60,640

Balance at December 31, 2019	$	3,116,880

- Definition

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

+ References + Details

Shareholders' Equity

12 Months Ended

Dec. 31, 2019

Shareholders' Equity

Shareholders' Equity

NOTE 4 – Shareholders’ Equity

Purchase Agreement and Registration Rights Agreement with Aspire Capital

On September 26, 2018, the Company entered into a Purchase Agreement with Aspire Capital, which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $20.0 million of the Company’s ADS, with each ADS representing one hundred (100) ordinary shares, during a 30‑month period beginning on the effective date of a registration statement related to the transaction. Concurrently with entering into the Purchase Agreement, the Company also entered into a registration rights agreement with Aspire Capital, in which the Company agreed to file one or more registration statements, as permissible and necessary to register under the Securities Act of 1933, as amended (the “Securities Act”), the sale of the Company’s securities that have been and may be issued to Aspire Capital under the Purchase Agreement.

Under the Purchase Agreement, after the SEC has declared effective the registration statement referred to above (which occurred in March 2019), on any trading day selected by the Company, the Company has the right, in its sole discretion, to present Aspire Capital with a purchase notice (each, a “Purchase Notice”), directing Aspire Capital (as principal) to purchase up to 150,000 ADSs per business day and up to $20.0 million of the Company’s ADSs in the aggregate at a per share price (the “Purchase Price”) equal to the lesser of:

the lowest sale price of the Company’s ADSs on the purchase date; or

the arithmetic average of the three (3) lowest closing sale prices for the ADSs during the ten (10) consecutive business days ending on the business day immediately preceding such Purchase Date (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction).

In addition, on any date on which the Company submits a Purchase Notice to Aspire Capital in an amount of 150,000 ADSs, the Company also has the right, in its sole discretion, to present Aspire Capital with a volume-weighted average price purchase notice (each, a “VWAP Purchase Notice”) directing Aspire Capital to purchase an amount of ADSs equal to up to 30% of the aggregate shares of the Company’s ADSs traded on its principal market on the next trading day (the “VWAP Purchase Date”), subject to a maximum number of 250,000 ADSs. The purchase price per share pursuant to such VWAP Purchase Notice is generally 97% of the volume-weighted average price for the Company’s ADSs traded on its principal market on the VWAP Purchase Date.l

The Purchase Price will be adjusted for any reorganization, recapitalization, non-cash dividend, stock split, or other similar transaction occurring during the period(s) used to compute the Purchase Price. The Company may deliver multiple Purchase Notices and VWAP Purchase Notices to Aspire Capital from time to time during the term of the Purchase Agreement, so long as the most recent purchase has been completed.

The Purchase Agreement provides that the Company and Aspire Capital shall not effect any sales under the Purchase Agreement on any purchase date where the closing sale price of the Company’s ADSs is less than $0.25. There are no trading volume requirements or restrictions under the Purchase Agreement, and the Company will control the timing and amount of sales of the Company’s ADSs to Aspire Capital. Aspire Capital has no right to require any sales by the Company but is obligated to make purchases from the Company as directed by the Company in accordance with the Purchase Agreement. There are no limitations on use of proceeds, financial or business covenants, restrictions on future fundings, rights of first refusal, participation rights, penalties or liquidated damages in the Purchase Agreement. In consideration for entering into the Purchase Agreement, concurrently with the execution of the Purchase Agreement, the Company issued to Aspire Capital 30,000,000 ordinary shares of the Company (the “Commitment Shares”) and sold to Aspire Capital 25,000,000 Ordinary Shares (the “Initial Shares”) for gross proceeds of $500,000. The Company recorded the value of the Commitment shares as deferred financing costs and included the costs in current assets. They are amortized proportionally as the Company sells shares to Aspire. As of December 31, 2019, the Company recognized approximately $278,000 of such costs which are offset against additional paid-in capital. The Purchase Agreement may be terminated by the Company at any time, at its discretion, without any cost to the Company. Aspire Capital has agreed that neither it nor any of its agents, representatives and affiliates shall engage in any direct or indirect short-selling or hedging of the Company’s securities during any time prior to the termination of the Purchase Agreement. Any proceeds the Company receives under the Purchase Agreement are expected to be used for working capital and general corporate purposes.

In addition to the issuance of the Commitment Shares and Initial Shares for gross proceeds of $500,000, during the year ended December 31, 2019, the Company sold to Aspire Capital 428,333,300 ordinary shares of the Company for gross proceeds of $8,768,125. As of December 31, 2019, $10,731,875 of the original purchase commitment remains available under the facility. Subsequent to December 31, 2019, the Company sold additional shares to Aspire Capital (See Note 10).

Registered Direct Offering -

Share option plan –

In accordance with the Company’s 2014 Equity Incentive Plan (the “Plan”), the number of shares that may be issued upon exercise of options under the Plan shall not exceed 183,083,207 ordinary shares. At December 31, 2019, 88,734,172 ordinary shares are available for future issuance under the Plan. The option plan is administered by the Company’s board of directors and grants are made pursuant thereto by the compensation committee. The per share exercise price for the shares to be issued pursuant to the exercise of an option shall be such price equal to the fair market value of the Company’s Ordinary Shares on the grant date and set forth in the individual option agreement. Options expire ten years after the grant date and typically vest over one to four years.

The following is a summary of the Company’s share option activity and related information for employees and directors for the years ended December 31, 2019, 2018 and 2017:


						Weighted
						average
		Weighted		Weighted		remaining
		average		average		contractual	Aggregate
	Number	exercise		grant date		term	intrinsic
	of shares	price		fair value		(in years)	value

Options outstanding as of January 1, 2017	79,372,198	$	0.29				$	—
Changes during the period:
Granted	50,700,000	$	0.05	$	0.03
Forfeited	(40,010,200)	$	0.32	$	0.19
Options outstanding at December 31, 2017	90,061,998	$	0.15				$	266,011
Changes during the period:
Granted	41,150,000	$	0.02	$	0.01
Forfeited	(37,115,000)	$	0.07	$	0.05
Options outstanding at December 31, 2018	94,096,998	$	0.12			8.4	$	—
Changes during the period:
Granted	7,800,000	$	0.02	$	0.01
Forfeited	(7,547,963)	$	0.23	$	0.14
Options outstanding at December 31, 2019	94,349,035	$	0.10			7.6	$	—
Exercisable options at December 31, 2019	58,992,785	$	0.15			7.0	$	—

The Company measures compensation cost for all share-based awards at fair value on the date of grant and recognizes compensation expense in general administrative and research and development expenses within its Consolidated Statements of Comprehensive Loss using the straight-line method over the service period over which it expects the awards to vest.

The Company estimates the fair value of all time-vested options as of the date of grant using the Black-Scholes option valuation model, which was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. Option valuation models require the input of highly subjective assumptions, including the expected share price volatility, which is calculated based on the historical volatility of peer companies. The Company uses a risk-free interest rate, based on the U.S. Treasury instruments in effect at the time of the grant, for the period comparable to the expected term of the option. Given its limited history with share option grants and exercises, the Company uses the “simplified” method in estimating the expected term, the period of time that options granted are expected to be outstanding, for its grants.

The Company classifies its stock-based payments as either liability-classified awards or as equity-classified awards. The Company re-measures liability-classified awards to fair value at each balance sheet date until the award is settled. The Company measures equity-classified awards at their grant date fair value and does not subsequently re-measure them. The Company has classified its stock-based payments, which are settled in ordinary shares as equity-classified awards, and share-based payments that are settled in cash as liability-classified awards. Compensation costs related to equity-classified awards generally are equal to the grant-date fair value of the award amortized over the vesting period of the award. The liability for liability-classified awards generally is equal to the fair value of the award as of the balance sheet date multiplied by the percentage vested at the time. The Company charges (or credits) the change in the liability amounts from one balance sheet date to another to stock-based compensation expense.

Below are the assumptions used for the options granted during the years ended December 31, 2019, 2018 and 2017:


	December 31,
	2019		2018		2017
Expected dividend yield	0	%	0	%	0	%
Expected volatility	75.40	%	70.52%-82.23	%	78.77%-82.03	%
Risk-free interest	1.76	%	2.49%-3.13	%	1.21%-2.21	%
Expected life	5.5 years		5.5-6.25 years		5.5-6.25 years

The following is a summary of the Company’s share options granted separated into ranges of exercise price:


						Weighted
	Options	Weighted		Options	Remaining	average
	outstanding	average	Weighted	exercisable	contractual	exercise
Exercise	at	remaining	average	at	life for	price for
price	December	contractual	exercise	December	exercisable	exercisable
(range) ($)	31, 2019	life (years)	price ($)	31, 2019	options(years)	options ($)
0.02-0.05	59,300,000	8.54	0.02	24,975,000	8.29	0.03
0.12-0.19	18,334,629	6.30	0.15	17,303,379	6.29	0.16
0.32	16,714,406	5.72	0.32	16,714,406	5.72	0.32
	94,349,035			58,992,785

During the years ended December 31, 2019, 2018 and 2017, the Company recorded approximately $1,047,387, $1,649,044 and $2,734,946, respectively, in stock-based compensation expenses for employees and directors. At December 31, 2019, there was approximately $447,924 of unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Company’s share option plans which the Company expects to recognize over 2.0 years.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2019
Related Party Transactions
Related Party Transactions	NOTE 5 – Related Party Transactions Office Lease - The Company leases its offices in London from The Doctors Laboratory ("TDL") and has incurred expenses of approximately $134,000, $139,000 and $141,000 plus VAT during the years ended December 31, 2019, 2018 and 2017, respectively. David Byrne, a non-employee director of the Company is also the CEO of TDL (see Note 6). Laboratory Testing Services: The Company has received laboratory testing services for its clinical trials provided by TDL and has incurred expenses of approximately $186,000, $8,000 and $8,000 plus VAT during the years ended December 31, 2019, 2018 and 2017, respectively. Consulting - A non-employee director of the Company began providing business development consulting services in January 2018. The Company has incurred expenses of approximately $100,000, $84,000, $0 during the year ended December 31, 2019, 2018 and 2017, respectively, relating to these consulting services.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
Commitments and Contingencies
Commitments and Contingencies	NOTE 6 – Commitments and Contingencies Loss contingencies - On April 27, 2017, the Company issued a press release stating that Edison Investment Research Ltd. (“Edison”) had withdrawn its report issued April 26, 2017 titled “Akari’s Coversin matches Soliris® in Phase II” (the “Edison Report”) because it contained material inaccuracies, including, without limitation, with respect to the Company’s interim analysis of its ongoing Phase II PNH trial of nomacopan (formerly known as Coversin). Investors were cautioned not to rely upon any information contained in the Edison Report and instead were directed to the Company’s press release issued on April 24, 2017 that discusses the interim analysis of the Company’s then ongoing Phase II PNH trial and other matters. The Company’s Board of Directors established an ad hoc special committee of the Board to review the involvement, if any, of its personnel with the Edison Report, which was later retracted. Edison was retained by the Company to produce research reports about the Company. While that review was pending, Dr. Gur Roshwalb, the Company’s former Chief Executive Officer, was placed on administrative leave and Dr. Ray Prudo in his role as Executive Chairman temporarily assumed Dr. Roshwalb’s duties in his absence. Following that review, the Company determined that the Edison Report was reviewed and approved by Dr. Roshwalb, in contravention of Company policy. On May 29, 2017, Dr. Roshwalb submitted his resignation as Chief Executive Officer and member of the Company’s Board of Directors, effective immediately. On May 12, 2017, a putative securities class action captioned Derek Da Ponte v. Akari Therapeutics, PLC, Gur Roshwalb, and Dov Elefant (Case 1:17-cv-03577) was filed in the U.S. District Court for the Southern District of New York against the Company, its former Chief Executive Officer, and its former Chief Financial Officer. The plaintiff asserted claims alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), based primarily on the Company’s press releases or statements issued between April 24, 2017 and May 11, 2017 concerning the Phase II PNH trial of nomacopan (formerly known as Coversin) and the Edison Report about the Company and actions taken by it after the report was issued. The purported class covers the period from March 30, 2017 to May 11, 2017. The complaint seeks unspecified damages and costs and fees. On May 19, 2017, an almost identical class action complaint captioned Shamoon v. Akari Therapeutics, PLC, Gur Roshwalb, and Dov Elefant (Case 1:17-cv-03783) was filed in the same court. On July 11-12, 2017, candidates to be lead plaintiff filed motions to consolidate the cases and appoint a lead plaintiff. On August 10, 2017, the court issued a stipulated order: (i) consolidating the class actions under the caption In re: Akari Therapeutics, PLC Securities Litigation (Case 1:17-cv-03577); and (ii) setting out a schedule for plaintiffs to file a consolidated amended complaint and defendants to respond thereto. By order dated September 7, 2017, the court appointed lead plaintiffs for the class and lead plaintiffs’ counsel. On November 6, 2017, lead plaintiffs filed a consolidated amended complaint (the “CAC”). While the CAC contains similar substantive allegations to the initial complaints, it adds two additional defendants, Ray Prudo and Edison Investment Research Ltd., and the purported class period was changed to April 24, 2017 through May 30, 2017. On January 10, 2018, at a hearing regarding the defendants’ impending motions to dismiss the CAC, the Court gave plaintiffs permission to file a second consolidated amended complaint (the “SCAC”) and established a briefing schedule for defendants’ motions to dismiss the SCAC. Pursuant to that schedule, plaintiffs’ SCAC was filed on January 31, 2018. All briefing on the motions to dismiss was completed on April 20, 2018. On May 9, 2018, the parties engaged in a mediation session and came to an agreement in principle to settle the dispute. On June 8, 2018, the parties entered into a memorandum of understanding. A memorandum of understanding is not a definitive settlement agreement, which must be approved by the Court. By the terms of the memorandum, the parties agreed in principle to a total payment of $2.7 million in cash. The Company recorded the $2.7 million SCAC litigation settlement loss in the Consolidated Statement of Comprehensive Loss in the year ended December 31, 2017, which is the period in which the lawsuits were originally filed. The $2.7 million SCAC settlement liability was recorded as a loss contingency in accrued expenses in the Company’s Consolidated Balance Sheets as of December 31, 2017. On July 26, 2018, plaintiffs filed a notice with the Court voluntarily dismissing Edison from the action. On August 3, 2018, the remaining parties executed and filed a stipulation and agreement of settlement (the terms of which were consistent with the memorandum of understanding). On August 7, 2018, the Court granted plaintiffs’ motion for preliminary approval of the settlement, and on November 28, 2018, following a hearing with the parties, the court ordered final approval of the settlement. On August 24, 2018, the Company received a $2.7 million payment from its directors’ and officers’ liability insurance provider, the sum of which was paid to an escrow account for the benefit of the settlement class on August 27, 2018. This was recorded as a gain in the Consolidated Statements of Comprehensive Loss during the third quarter of 2018. Plaintiffs subsequently moved to distribute the settlement funds to the class, and the Court granted plaintiffs' motion on February 4, 2019. Separately, Edison sought indemnification from the Company pursuant to its contract with the Company, including reimbursement of all legal expenses that Edison incurs in connection with the securities class action (to which, as discussed above, Edison was added as a defendant on November 6, 2017) and lost profits from customer relationships that Edison claims it lost as a result of the retraction of the Edison Report. The parties came to an agreement in the fourth quarter of 2018 and settled the dispute for an amount immaterial to the Company’s operations and cash flows. The Company voluntarily reported to the SEC the circumstances leading to the withdrawal of the Edison Report and the outcome of its special committee’s investigation. In response, the SEC requested certain documents from the Company with respect to the matters it reported. The Company is cooperating with the SEC’s requests for information. On June 5, 2018, the Company received a subpoena from the SEC, which requested further documents and information primarily related to the Company’s Phase II clinical trial of nomacopan (formerly known as Coversin) in connection with an investigation of the Company that the SEC is conducting. The Company has responded to the subpoena and will continue to cooperate with the SEC. Lease commitment – The Company's lease agreement for offices in London expired in March 2019. The Company currently leases its offices in London on the same terms of the expired lease, except the current lease can be cancelled by either party upon 3 month notice (See Note 5). The Company’s lease agreement for offices in New York, NY ended early in December 2018. The Company currently leases office space in New York, NY on a month-to-month basis. For the years ended December 31, 2019, 2018 and 2017, the Company incurred rental expense in the amount of approximately $392,000, $814,000 and $446,000, respectively.

Loss Per Share

12 Months Ended

Dec. 31, 2019

Loss Per Share

Loss Per Share

NOTE 7 – Loss Per Share

Basic loss per Ordinary Share is computed by dividing net loss available to ordinary shareholders by the weighted-average number of Ordinary Shares outstanding during the period. Diluted loss per ordinary share is computed by dividing net loss available to ordinary shareholders by the sum of (1) the weighted-average number of Ordinary Shares outstanding during the period, (2) the dilutive effect of the assumed exercise of share options using the treasury stock method, and (3) the dilutive effect of other potentially dilutive securities.

The following is the calculation of the basic and diluted weighted average shares outstanding for the years ended December 31, 2019, 2018 and 2017, respectively:


	Years Ended December 31,
	2019	2018	2017
Company posted	Net loss	Net loss	Net loss
Basic weighted average shares outstanding	1,830,998,609	1,540,309,840	1,247,293,388
Dilutive effect of Ordinary Share equivalents	None	None	None
Dilutive weighted average shares outstanding	1,830,998,609	1,540,309,840	1,247,293,388

For purposes of the diluted net loss per share calculation, share options and warrants are considered to be potentially dilutive securities and are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive. Therefore, basic and diluted net loss per share was the same for the periods presented due to the Company’s net loss position.

The following table shows the number of share equivalents that were excluded from the computation of diluted loss per share for the respective periods because the effect would have been anti-dilutive:


	Years Ended December 31,
	2019	2018	2017
Total share options	94,349,035	94,096,998	89,611,998
Total warrants-equity classified	—	—	399,160
Total warrants-liability classified	136,184,200	—	—
Total share options and warrants	230,533,235	94,096,998	90,011,158

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Taxes

Income Taxes

NOTE 8 – Income Taxes

Tax rates:

The Company is incorporated in England. The effective corporate tax rate applying to a company that is incorporated in England on December 31, 2019 is 19%, which is consistent with the rate from December 31, 2018, and reduced from the 19.25% rate from December 31, 2017.

Tax assessment:

The periods open to inquiry by the United Kingdom (“UK”) tax authorities are 2019, 2018 and 2017. The Company has not been issued final tax assessments since its establishment in Switzerland.

Deferred taxes:

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Management currently believes that since the Company has a history of losses, it is more likely than not that the deferred tax assets relating to the loss carryforwards and other temporary differences will not be realized in the foreseeable future. Therefore, the Company provided a full valuation allowance to reduce the deferred tax assets.

The main reconciling item between the statutory tax rate of the Company and the effective tax rate is the recognition of valuation allowances in respect of deferred taxes relating to accumulated net operating losses carried forward due to the uncertainty of the realization of such deferred taxes.

At December 31, 2019 and 2018, there were no known uncertain tax positions. The Company has not identified any tax positions for which it is reasonably possible that a significant change will occur during the next 12 months.

The components of income/(loss) before income taxes are as follows:


	December 31,		December 31,		December 31,
	2019		2018		2017
Domestic (UK)	$	(17,130,287)	$	(16,600,376)	$	(35,295,613)
Foreign		24,496		133,596		(103,644)
Loss before income tax	$	(17,105,791)	$	(16,466,780)	$	(35,399,257)

Income taxes relating to the Company’s operations are as follows:


	December 31,	December 31,	December 31,
	2019	2018	2017
Current income taxes
Domestic (UK)	—	—	—
Foreign	—	—	—
Deferred income taxes	—	—	—
Domestic (UK)	—	—	—
Foreign	—	—	—
Income tax expense/recovery	—	—	—

Income taxes at the UK statutory rate compared to the Company’s income tax expenses as reported are as follows:


	December 31,			December 31,			December 31,
	2019			2018			2017
Net loss before income tax	$	(17,105,791)		$	(16,466,780)		$	(35,399,257)
Statutory rate		19.00	%		19.00	%		19.25	%
Expected income tax recovery		(3,250,100)			(3,128,688)			(6,814,357)
Impact on income tax expense/recovery from
Change in valuation allowance		3,387,007			(1,159,720)			4,210,615
Permanent differences - liability related to options and warrants		161,543			—			(6,706)
U.S. state taxes (net of FBOS)		(370,870)			—			—
Tax rate difference in foreign jurisdictions		(1,960)			2,686,296			801,056
Change of tax rate due to U.S. tax reform		—			—			2,506,519
Change of tax rate from prior year		(63,133)			1,602,112			(697,127)
Other adjustments		137,513			—			—
Income tax expense		—			—			—

The Company’s deferred tax assets and liabilities consist of the following:


	December 31,	December 31,
	2019	2018
Deferred tax assets
Stock-based compensation	1,240,284	1,590,703
PP&E and other accrued liabilities	120,046	—
Intangibles	1,937,082	—
Stock option and warrant revaluation	592,207	313,213
Tax loss carry forward	18,439,041	17,037,739
Valuation allowance	(22,328,660)	(18,941,655)
Deferred tax assets/liabilities	—	—

The Company has reviewed its tax positions for its past domestic and foreign tax filings and has not identified any uncertain income tax positions. The Company’s position is to record penalties and interest on any uncertain tax position, if any, and record such items to general and administrative expense.

At December 31, 2019, the Company had approximately $71.3 million of UK operating loss carryforwards to reduce future UK taxable income. These carryforwards do not expire. At December 31, 2019, the Company had approximately $20.5 million of foreign operating loss carryforwards in the US and Switzerland. Carryforwards in the US totaling approximately $1.1 million expire in 2033, $1.2 million expire in 2037, $3.5 million expire in 2038 and $6.9 million do not expire. The carryforwards in Switzerland expire in begging in 2021. The Company has not conducted a formal analysis and the net operating loss carryovers may be subject to limitation under U.S. Internal Revenue Code Section 382 should there have been a greater than 50% ownership change as determined under the regulations.

Research and development credits:

The Company carries out extensive research and development activities and may benefit from the UK research and development tax relief regime, whereby the Company can receive an enhanced UK tax deduction on its research and development activities. Qualifying expenditures comprise of chemistry and manufacturing consumables, employment costs for research staff, clinical trials management, and other subcontracted research expenditures. Where the Company is loss making for the period it can elect to surrender taxable losses for a refundable tax credit. The losses available to surrender are equal to the lower of the sum of the research and development qualifying expenditure and enhanced tax deduction and the Company’s taxable losses for the period with the tax credit for December 31, 2019 available at a rate of 14.5%. The credit therefore gives a cash flow advantage to Company at a lower rate than would be available if the enhanced losses were carried forward and relieved against future taxable profits.

The Company accounts for research and development tax credits at the time its realization becomes probable (Note 2). Due to the uncertainty of the approval of these tax credit claims and the potential that an election for a tax credit in the form of cash is not made, the Company did not record a receivable for the 2019 tax year at December 31, 2019.

Segment Information

12 Months Ended

Dec. 31, 2019

Segment Information

Segment Information

NOTE 9 – Segment Information

The chief operating decision maker (“CODM”) is the Company’s CEO. Neither the CODM nor the Company’s directors receive disaggregated financial information about the locations in which research and development is occurring. Therefore, the Company considers that it has only one reporting segment.

The following table presents the Company’s tangible fixed assets by geographic region:


	December 31,		December 31,
	2019		2018
United States	$	1,823	$	5,735
United Kingdom		3,190		14,690
Total	$	5,013	$	20,425

Subsequent Event	12 Months Ended
Subsequent Event	Dec. 31, 2019
Subsequent Event
Subsequent Event	NOTE 10 – Subsequent Event In January 2020, the Company sold to Aspire Capital 650,000 ADSs of the Company for gross proceeds of approximately $1,108,000 under the Purchase Agreement. On February 13, 2020, February 19, 2020, February 20, 2020 and February 28, 2020, respectively, the Company sold to certain accredited investors including Dr. Ray Prudo, the Company’s Chairman, an aggregate of 5,620,296 ADSs in a private placement at $1.70 per ADS, resulting in aggregate gross proceeds of approximately $9.5 million. In addition, the Company issued to the investors unregistered warrants to purchase an aggregate of 2,810,136 ADSs in a private placement. The warrants are immediately exercisable and will expire five years from issuance at an exercise price of $2.20 per ADS, subject to adjustment as set forth therein. The warrants may be exercised on a cashless basis if six months after issuance there is no effective registration statement registering the ADSs underlying the warrants. Subject to certain conditions, the Company has the option to “call” the exercise of the warrants from time to time after any 10-consecutive trading day period during which the daily volume weighted average price of the ADSs exceeds $3.30. The Company paid an aggregate of approx. $808,362 in placement agent fees and expenses and issued unregistered placement agent warrants to purchase an aggregate of 449,623 ADS on the same terms as the warrants to investors, except that the placement agent warrants are exercisable at $2.55 per ADS. In late 2019, a novel strain of COVID-19, also known as coronavirus, was reported in Wuhan, China. While initially the outbreak was largely concentrated in China, it has now spread to several other countries, including in the United Kingdom and the United States, and infections have been reported globally. In particular, the Company’s clinical trial sites are based in areas currently affected by coronavirus. Epidemics such as this can adversely impact our business as a result of disruptions, such as travel bans, quarantines, and interruptions to access the trial sites and supply chain, which could result in material delays and complications with respect to the Company’s research and development programs and clinical trials. Moreover, as a result of coronavirus, there is a general unease of conducting unnecessary activities in medical centers. As a consequence, the Company’s ongoing trials have been halted or disrupted. It is too early to assess the full impact of the coronavirus outbreak on trials for nomacopan, but coronavirus is expected to affect the Company’s ability to complete recruitment in the original timeframe. The extent to which the coronavirus impacts the Company’s operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration and severity of the outbreak, and the actions that may be required to contain the coronavirus or treat its impact. In particular, the continued spread of the coronavirus globally could adversely impact the Company’s operations and workforce, including its research and clinical trials and its ability to raise capital, could affect the operations of key governmental agencies, such as the FDA, which may delay the development of the Company’s product candidates, and could result in the inability of the Company’s suppliers to deliver components or raw materials on a timely basis or at all, each of which in turn could have an adverse impact on the Company’s business, financial condition and results of operation.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Summary of Significant Accounting Policies

Basis of Presentation

Principles of Consolidation

Foreign Currency

Use of Estimates

Fair Value Measurements

Cash

Restricted cash

Restricted Cash - Restricted Cash was collateral for a letter of credit related to the Company’s former office leases which terminated in 2018.

Prepaid Expenses and Other Current Assets

Prepaid Expenses and Other Current Assets – Prepaid expenses and other current assets consist principally of prepaid expenses and VAT receivables.

Deferred Financing Costs

Property and equipment, net


		Years

Computers, peripheral, and scientific equipment		3
Office furniture and equipment		3

Property and equipment, consists of the following:


		December 31,		December 31,
		2019		2018
Computers, peripheral, and scientific equipment	$	85,489	$	85,489
Office furniture and equipment		79,449		79,449
Total property and equipment		164,938		164,938
Less: Accumulated depreciation		(159,925)		(144,513)
Property and equipment, net	$	5,013	$	20,425

Long-Lived Assets

Patent Acquisition Costs

Accrued Expenses

Research and Development Expenses

Stock-Based Compensation Expense

Concentration of Credit Risk

Income Taxes

Uncertain Tax Positions

Earnings (Loss) Per Share

Comprehensive Income (Loss)


Balance January 1, 2017	$	(280,097)
Net current period other comprehensive income		43,851
Balance December 31, 2017	$	(236,246)
Net current period other comprehensive loss		(116,180)
Balance December 31, 2018	$	(352,426)
Net current period other comprehensive income		3,566
Balance December 31, 2019	$	(348,860)

Recent Accounting Pronouncements

Adopted during year –

Recently Issued Accounting Pronouncements Not Yet Adopted -.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Significant Accounting Policies

Schedule of Estimated useful lives of the assets

Depreciation is calculated using the straight-line method over the estimated useful lives of the assets at the following annual rates:


		Years

Computers, peripheral, and scientific equipment		3
Office furniture and equipment		3

Schedule of components of property and equipment


		December 31,		December 31,
		2019		2018
Computers, peripheral, and scientific equipment	$	85,489	$	85,489
Office furniture and equipment		79,449		79,449
Total property and equipment		164,938		164,938
Less: Accumulated depreciation		(159,925)		(144,513)
Property and equipment, net	$	5,013	$	20,425

Schedule of Comprehensive Income (Loss)


Balance January 1, 2017	$	(280,097)
Net current period other comprehensive income		43,851
Balance December 31, 2017	$	(236,246)
Net current period other comprehensive loss		(116,180)
Balance December 31, 2018	$	(352,426)
Net current period other comprehensive income		3,566
Balance December 31, 2019	$	(348,860)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Measurements

Schedule of assumptions used for the fair value calculations of the warrants

Below are the assumptions used for the fair value calculations of the warrants as of:


	July 3,		December 31,
	2019		2019
Standard deviation	110.00	%	110.00	%
Annual risk-free interest rate	1.71	%	1.66	%
Required return on equity	19.90	%	19.90	%
Expected life in years	5.00		4.50
Annual turnover rate	0.00	%	0.00	%
Period risk-free rate	0.08	%	0.08	%

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


	December 31,		December 31,
	2019		2018
RPC Options	$	2,102,012	$	1,842,424
Paulson Warrants		1,014,868		—
Total	$	3,116,880	$	1,842,424

Schedule of Fair value measurements using significant unobservable inputs

Fair value measurements using significant unobservable inputs (Level 3):


	Fair value of
	liabilities related
	to options and warrants
Balance at December 31, 2017	$	5,081,335

Changes in values of liabilities related to options and warrants		(3,238,911)

Balance at December 31, 2018	$	1,842,424

Issuance of Paulson Warrants		1,213,816

Changes in values of liabilities related to options and warrants		60,640

Balance at December 31, 2019	$	3,116,880

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Shareholders' Equity

Schedule of share option activity and related information for employees and directors

The following is a summary of the Company’s share option activity and related information for employees and directors for the years ended December 31, 2019, 2018 and 2017:


						Weighted
						average
		Weighted		Weighted		remaining
		average		average		contractual	Aggregate
	Number	exercise		grant date		term	intrinsic
	of shares	price		fair value		(in years)	value

Options outstanding as of January 1, 2017	79,372,198	$	0.29				$	—
Changes during the period:
Granted	50,700,000	$	0.05	$	0.03
Forfeited	(40,010,200)	$	0.32	$	0.19
Options outstanding at December 31, 2017	90,061,998	$	0.15				$	266,011
Changes during the period:
Granted	41,150,000	$	0.02	$	0.01
Forfeited	(37,115,000)	$	0.07	$	0.05
Options outstanding at December 31, 2018	94,096,998	$	0.12			8.4	$	—
Changes during the period:
Granted	7,800,000	$	0.02	$	0.01
Forfeited	(7,547,963)	$	0.23	$	0.14
Options outstanding at December 31, 2019	94,349,035	$	0.10			7.6	$	—
Exercisable options at December 31, 2019	58,992,785	$	0.15			7.0	$	—

Schedule of assumptions used for the options granted

Below are the assumptions used for the options granted during the years ended December 31, 2019, 2018 and 2017:


	December 31,
	2019		2018		2017
Expected dividend yield	0	%	0	%	0	%
Expected volatility	75.40	%	70.52%-82.23	%	78.77%-82.03	%
Risk-free interest	1.76	%	2.49%-3.13	%	1.21%-2.21	%
Expected life	5.5 years		5.5-6.25 years		5.5-6.25 years

Schedule of share options granted separated into ranges of exercise price

The following is a summary of the Company’s share options granted separated into ranges of exercise price:


						Weighted
	Options	Weighted		Options	Remaining	average
	outstanding	average	Weighted	exercisable	contractual	exercise
Exercise	at	remaining	average	at	life for	price for
price	December	contractual	exercise	December	exercisable	exercisable
(range) ($)	31, 2019	life (years)	price ($)	31, 2019	options(years)	options ($)
0.02-0.05	59,300,000	8.54	0.02	24,975,000	8.29	0.03
0.12-0.19	18,334,629	6.30	0.15	17,303,379	6.29	0.16
0.32	16,714,406	5.72	0.32	16,714,406	5.72	0.32
	94,349,035			58,992,785

Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Loss Per Share

Schedule of basic and diluted weighted average shares outstanding

The following is the calculation of the basic and diluted weighted average shares outstanding for the years ended December 31, 2019, 2018 and 2017, respectively:


	Years Ended December 31,
	2019	2018	2017
Company posted	Net loss	Net loss	Net loss
Basic weighted average shares outstanding	1,830,998,609	1,540,309,840	1,247,293,388
Dilutive effect of Ordinary Share equivalents	None	None	None
Dilutive weighted average shares outstanding	1,830,998,609	1,540,309,840	1,247,293,388

Schedule of antidilutive securities excluded from computation of earnings per share


	Years Ended December 31,
	2019	2018	2017
Total share options	94,349,035	94,096,998	89,611,998
Total warrants-equity classified	—	—	399,160
Total warrants-liability classified	136,184,200	—	—
Total share options and warrants	230,533,235	94,096,998	90,011,158

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of components of income/(loss) before income taxes

The components of income/(loss) before income taxes are as follows:


	December 31,		December 31,		December 31,
	2019		2018		2017
Domestic (UK)	$	(17,130,287)	$	(16,600,376)	$	(35,295,613)
Foreign		24,496		133,596		(103,644)
Loss before income tax	$	(17,105,791)	$	(16,466,780)	$	(35,399,257)

Schedule of income taxes relating to the company's operations

Income taxes relating to the Company’s operations are as follows:


	December 31,	December 31,	December 31,
	2019	2018	2017
Current income taxes
Domestic (UK)	—	—	—
Foreign	—	—	—
Deferred income taxes	—	—	—
Domestic (UK)	—	—	—
Foreign	—	—	—
Income tax expense/recovery	—	—	—

Schedule of income taxes at the UK statutory rate compared to the company's income tax expenses

Income taxes at the UK statutory rate compared to the Company’s income tax expenses as reported are as follows:


	December 31,			December 31,			December 31,
	2019			2018			2017
Net loss before income tax	$	(17,105,791)		$	(16,466,780)		$	(35,399,257)
Statutory rate		19.00	%		19.00	%		19.25	%
Expected income tax recovery		(3,250,100)			(3,128,688)			(6,814,357)
Impact on income tax expense/recovery from
Change in valuation allowance		3,387,007			(1,159,720)			4,210,615
Permanent differences - liability related to options and warrants		161,543			—			(6,706)
U.S. state taxes (net of FBOS)		(370,870)			—			—
Tax rate difference in foreign jurisdictions		(1,960)			2,686,296			801,056
Change of tax rate due to U.S. tax reform		—			—			2,506,519
Change of tax rate from prior year		(63,133)			1,602,112			(697,127)
Other adjustments		137,513			—			—
Income tax expense		—			—			—

Schedule of deferred tax assets and liabilities

The Company’s deferred tax assets and liabilities consist of the following:


	December 31,	December 31,
	2019	2018
Deferred tax assets
Stock-based compensation	1,240,284	1,590,703
PP&E and other accrued liabilities	120,046	—
Intangibles	1,937,082	—
Stock option and warrant revaluation	592,207	313,213
Tax loss carry forward	18,439,041	17,037,739
Valuation allowance	(22,328,660)	(18,941,655)
Deferred tax assets/liabilities	—	—

Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Information

Schedule of tangible fixed assets by geographic region

The following table presents the Company’s tangible fixed assets by geographic region:


	December 31,		December 31,
	2019		2018
United States	$	1,823	$	5,735
United Kingdom		3,190		14,690
Total	$	5,013	$	20,425

Nature of Business (Details)	1 Months Ended	12 Months Ended
Nature of Business (Details)	Sep. 26, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2019 £ / shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 £ / shares	Dec. 31, 2018 USD ($)
Nature Of Business [Line Items]
Retained Earnings (Accumulated Deficit)						$ 143,909,438		$ 126,803,647
Cash and Cash Equivalents, at Carrying Value				$ 28,106,671		5,731,691		$ 5,446,138
Net Cash Provided by (Used in) Operating Activities		$ 12,918,313	$ 22,580,240	31,598,709
Net Income (Loss) Attributable to Parent		$ (17,105,791)	$ (16,466,780)	$ (35,399,257)
Nominal value of ADS (in per warrant ADS) \| £ / shares					£ 0.01		£ 0.01
Amount available under the share purchase commitment facility						$ 10,731,875
Aspire Capital Fund LLC [Member]
Nature Of Business [Line Items]
Gross proceeds	$ 20,000,000

- Definition

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

+ References + Details

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Significant Accounting Policies [Line Items]
Total property and equipment	$ 164,938	$ 164,938
Less: Accumulated depreciation	(159,925)	(144,513)
Property and equipment, net	$ 5,013	20,425
Computers, peripheral, and scientific equipment [Member]
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Total property and equipment	$ 85,489	85,489
Office furniture and equipment [Member]
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Total property and equipment	$ 79,449	$ 79,449

Summary of Significant Accounting Policies - Comprehensive Income (Loss) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Summary of Significant Accounting Policies
Beginning Balance	$ (352,426)	$ (236,246)	$ (280,097)
Net current period other comprehensive income (loss)	3,566	(116,180)	43,851
Ending Balance	$ (348,860)	$ (352,426)	$ (236,246)

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Significant Accounting Policies [Line Items]
Research and Development Expense	$ 8,739,420	$ 11,795,376	$ 23,285,279
Depreciation	15,412	35,473	39,351
Research and Development Expense [Member]
Significant Accounting Policies [Line Items]
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	$ 7,907,213	3,794,094
Patents [Member]
Significant Accounting Policies [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	22 years
Amortization of Intangible Assets	$ 3,793	$ 375	$ 3,049

Fair Value Measurements - Assumptions used for the fair value calculations of the warrants (Details)	Dec. 31, 2019	Jul. 03, 2019
Standard deviation [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	110.00	110.00
Annual risk-free interest rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	1.66	1.71
Required return on equity [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	19.90	19.90
Expected life in years [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	4.50	5.00
Annual turnover rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	0.00	0.00
Period risk-free rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input	0.08	0.08

Fair Value Measurements - Financial liabilities measured at fair value on a recurring basis (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities related to stock options and warrants	$ 2,102,012	$ 1,842,424
Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities related to stock options and warrants	3,116,880	1,842,424
Recurring [Member] \| RPC Options [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities related to stock options and warrants	2,102,012	1,842,424
Recurring [Member] \| Paulson Warrants [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities related to stock options and warrants	$ 1,014,868	$ 0

Fair Value Measurements - Unobservable inputs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Changes in values of liabilities related to options and warrants	$ 60,640	$ (3,238,911)	$ (2,581,473)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Balance	1,842,424	5,081,335
Changes in values of liabilities related to options and warrants	60,640	(3,238,911)
Issuance of Paulson Warrants	1,213,816
Balance	$ 3,116,880	$ 1,842,424	$ 5,081,335

Fair Value Measurements - Additional Information (Details)		1 Months Ended	12 Months Ended
	Jul. 03, 2019 USD ($) item $ / shares shares	Jun. 30, 2015 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2019 £ / shares	Dec. 31, 2019 USD ($) shares	Jul. 03, 2019 € / shares shares	Jul. 03, 2019 $ / shares shares	Dec. 31, 2018 £ / shares	Dec. 31, 2018 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stock Options And Warrants Fair Value Disclosure							$ 2,102,012				$ 1,842,424
Change in fair value of liability			$ (60,640)	$ 3,238,911	$ 2,581,473
Liability Related to Paulson Warrants
Nominal value of ADS (in per warrant ADS) \| £ / shares						£ 0.01				£ 0.01
Registered Direct Offering [Member]
Liability Related to Paulson Warrants
Aggregate ADSs issued (in shares) \| shares	2,368,392
Share issue price (in dollars per ADS) \| $ / shares	$ 1.90
Gross proceeds from issuance	$ 4,500,000
Private Placement [Member]
Liability Related to Paulson Warrants
Placement agent fees and expenses	$ 337,496
Private Placement [Member] \| Paulson Warrants [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Change in fair value of liability			198,948
Liability Related to Paulson Warrants
Warrants issued to purchase ADS (in shares) \| shares								1,361,842	1,361,842
Threshold period for exercise of warrants on cashless basis	6 months
Nominal value of ADS (in per warrant ADS) \| € / shares								€ 1
Warrants outstanding (in shares) \| shares							1,361,842
Total grant date fair value of warrants							$ 1,213,816
Fair value of warrants							$ 1,014,868
Private Placement [Member] \| Investor Warrants [Member]
Liability Related to Paulson Warrants
Warrants issued to purchase ADS (in shares) \| shares								1,184,213	1,184,213
Term of the warrants								5 years	5 years
Exercise price of warrants (in dollars per ADS) \| $ / shares									$ 3.00
Threshold consecutive trading day period to call for exercise of warrants \| item	10
Threshold minimum daily volume weighted average price (in dollars per ADS) \| $ / shares	$ 4.50
Private Placement [Member] \| Placement Agent Warrants [Member]
Liability Related to Paulson Warrants
Warrants issued to purchase ADS (in shares) \| shares								177,629	177,629
Exercise price of warrants (in dollars per ADS) \| $ / shares									$ 2.85
RPC options [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage Of Shares Outstanding		15.00%
Short-term Debt		$ 3,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		$ 26,000,000
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		15.00%
Change in fair value of liability			$ 259,588	$ 3,238,911

Shareholders' Equity (Details) - USD ($)	12 Months Ended
Shareholders' Equity (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Shareholders' Equity
Number of shares, Options Outstanding at beginning of the period	94,096,998	90,061,998	79,372,198
Number of shares, Granted	7,800,000	41,150,000	50,700,000
Number of shares, Forfeited	(7,547,963)	(37,115,000)	(40,010,200)
Number of shares, Options outstanding at end of the period	94,349,035	94,096,998	90,061,998
Number of shares, Exercisable options at end of the period	58,992,785
Weighted average exercise price, outstanding at beginning of the period	$ 0.12	$ 0.15	$ 0.29
Weighted average exercise price, Granted	0.02	0.02	0.05
Weighted average exercise price, Forfeited	0.23	0.07	0.32
Weighted average exercise price, outstanding at end of the period	0.10	0.12	0.15
Options exercisable at end of the period, Weighted average exercise price	0.15
Weighted average grant date fair value, Granted	0.01	0.01	0.03
Weighted average grant date fair value, Forfeited	$ 0.14	$ 0.05	$ 0.19
Weighted average remaining contractual term, Options outstanding during the period (in years)	7 years 7 months 6 days
Weighted average remaining contractual term, Options exercisable at end of the period (in years)	7 years	8 years 4 months 24 days
Aggregate intrinsic value, Options outstanding at beginning of the period		$ 266,011	$ 0
Aggregate intrinsic value, Options outstanding at end of the period	$ 0		$ 266,011
Aggregate intrinsic value, Options exercisable at end of the period	$ 0

Shareholders' Equity - Assumptions used for the options granted (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	75.40%
Risk-free interest	1.76%
Expected life	5 years 6 months
Minimum [Member]
Class of Stock [Line Items]
Expected volatility		70.52%	78.77%
Risk-free interest		2.49%	1.21%
Expected life		5 years 6 months	5 years 6 months
Maximum [Member]
Class of Stock [Line Items]
Expected volatility		82.23%	82.03%
Risk-free interest		3.13%	2.21%
Expected life		6 years 3 months	6 years 3 months

Shareholders' Equity - Share options granted separated into ranges of exercise price (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	94,349,035	94,096,998	90,061,998	79,372,198
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	7 years 7 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.10	$ 0.12	$ 0.15	$ 0.29
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	58,992,785
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	7 years	8 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0.15
Exercise Price Range One [Member]
Class of Stock [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	0.02
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 0.05
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	59,300,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	8 years 6 months 15 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.02
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	24,975,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	8 years 3 months 15 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0.03
Exercise Price Range Two [Member]
Class of Stock [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	0.12
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 0.19
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	18,334,629
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	6 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.15
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	17,303,379
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	6 years 3 months 15 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0.16
Exercise Price Range Three [Member]
Class of Stock [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 0.32
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	16,714,406
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	5 years 8 months 19 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.32
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	16,714,406
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 8 months 19 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0.32

Shareholders' Equity - Additional Information (Details) - USD ($)		1 Months Ended	12 Months Ended
	Jul. 03, 2019	Sep. 26, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Stock Issued During Period, Value, New Issues			$ 11,171,093	$ 891,232
Common Stock, Shares Authorized			10,000,000,000	10,000,000,000
Common Stock, Shares, Outstanding			2,245,865,913	1,580,693,413
Gross proceeds			$ 12,647,953	$ 306,232	$ 15,671,881
Number of Ordinary Shares Representing One American Depositary Share		100
Debt Issuance Costs, Current, Net			278,000
Amount available under the share purchase commitment facility			$ 10,731,875
Aspire Capital Fund LLC [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		30,000,000	428,333,300
Gross proceeds from issuance		$ 20,000,000	$ 8,768,125
Gross proceeds			500,000
Sale of Stock, Number of Shares Issued in Transaction		25,000,000
Percentage Of Volume Weighted Average Price Indicating Purchase Price		97.00%
Amount available under the share purchase commitment facility			10,731,875
American Depositary Share [Member] \| Aspire Capital Fund LLC [Member]
Class of Stock [Line Items]
Sale of Stock, Description of Transaction		30% of the aggregate shares of the Company's ADSs traded on its principal market on the next trading day (the "VWAP Purchase Date"), subject to a maximum number of 250,000 ADSs.
Number of Shares to be Issued		150,000
Non Employee [Member]
Class of Stock [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized			$ 447,924
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years
Registered Direct Offering [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	2,368,392
Gross proceeds from issuance	$ 4,500,000
Share issue price (in dollars per ADS)	$ 1.90
Private Placement [Member]
Class of Stock [Line Items]
Payments of Stock Issuance Costs	$ 337,496
Private Placement [Member] \| Paulson Warrants [Member]
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)	1,361,842
Private Placement [Member] \| Investor Warrants [Member]
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)	1,184,213
Exercise price of warrants (in dollars per ADS)	$ 3.00
Private Placement [Member] \| Placement Agent Warrants [Member]
Class of Stock [Line Items]
Warrants issued to purchase ADS (in shares)	177,629
Exercise price of warrants (in dollars per ADS)	$ 2.85
Employees And Directors [Member]
Class of Stock [Line Items]
Stock Issued During Period, Value, Share-based Compensation, Gross			$ 1,047,387	$ 1,649,044	$ 2,734,946
2014 Equity Incentive Plan [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			183,083,207
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized			88,734,172
American Depositary Share [Member] \| Aspire Capital Fund LLC [Member]
Class of Stock [Line Items]
Sale of Stock, Price Per Share		$ 0.25
Stock Issued During Period, Value, Issued for Services		$ 20,000,000

Related Party Transactions (Details) - USD ($)	12 Months Ended
Related Party Transactions (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Laboratory Testing Services [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	$ 186,000	$ 8,000	$ 8,000
Consulting Services [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	100,000	84,000	0
The Doctors Laboratory [Member]
Related Party Transaction [Line Items]
Operating Lease, Expense	$ 134,000	$ 139,000	$ 141,000

Commitments and Contingencies (Details) - USD ($)	1 Months Ended	12 Months Ended
Commitments and Contingencies (Details) - USD ($)	Aug. 24, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commitments and Contingencies
Operating Leases, Rent Expense, Net		$ 392,000	$ 814,000	$ 446,000
Litigation Settlement, Expense	$ 2,700,000	$ 0	$ (2,700,000)	$ 2,700,000

Loss Per Share (Details) - shares	12 Months Ended
Loss Per Share (Details) - shares	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Loss Per Share
Basic weighted average shares outstanding	1,830,998,609	1,540,309,840	1,247,293,388
Dilutive weighted average shares outstanding	1,830,998,609	1,540,309,840	1,247,293,388

Loss Per Share - Antidilutive securities excluded from computation of earnings per share (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Line Items]
Total share options and warrants	230,533,235	94,096,998	90,011,158
Share options [Member]
Earnings Per Share [Line Items]
Total share options and warrants	94,349,035	94,096,998	89,611,998
Warrants Equity Classified [Member]
Earnings Per Share [Line Items]
Total share options and warrants	0	0	399,160
Warrants Liability Classified [Member]
Earnings Per Share [Line Items]
Total share options and warrants	136,184,200	0	0

Income Taxes (Details) - USD ($)	12 Months Ended
Income Taxes (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes
Domestic (UK)	$ (17,130,287)	$ (16,600,376)	$ (35,295,613)
Foreign	24,496	133,596	(103,644)
Loss before income tax	$ (17,105,791)	$ (16,466,780)	$ (35,399,257)

Income Taxes - Income taxes relating to the Company's operations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current income taxes
Domestic (UK)	$ 0	$ 0	$ 0
Foreign	0	0	0
Deferred income taxes
Domestic (UK)	0	0	0
Foreign	0	0	0
Income tax expense	$ 0	$ 0	$ 0

Income Taxes - Income taxes at the UK statutory rate compared to the Company's income tax expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes
Net loss before income tax	$ (17,105,791)	$ (16,466,780)	$ (35,399,257)
Statutory rate	19.00%	19.00%	19.25%
Expected income tax recovery	$ (3,250,100)	$ (3,128,688)	$ (6,814,357)
Impact on income tax expense/recovery from
Change in valuation allowance	3,387,007	(1,159,720)	4,210,615
Permanent differences - liability related to options and warrants	161,543	0	(6,706)
U.S. state taxes (net of FBOS)	(370,870)	0	0
Tax rate difference in foreign jurisdictions	(1,960)	2,686,296	801,056
Change of tax rate due to U.S. tax reform	0	0	2,506,519
Change of tax rate from prior year	(63,133)	1,602,112	(697,127)
Other adjustments	137,513	0	0
Income tax expense	$ 0	$ 0	$ 0

Income Taxes - Deferred tax assets and liabilities (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets
Stock-based compensation	$ 1,240,284	$ 1,590,703
PP&E and other accrued liabilities	120,046	0
Intangibles	1,937,082	0
Stock option and warrant revaluation	592,207	313,213
Tax loss carry forward	18,439,041	17,037,739
Valuation allowance	(22,328,660)	(18,941,655)
Deferred tax assets/liabilities	$ 0	$ 0

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	19.00%	19.00%	19.25%
Effective Income Tax Rate Reconciliation, Tax Credit, Percent	14.50%
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 20.5
Great Britain [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	19.00%	19.00%	19.25%
UNITED KINGDOM \| Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 71.3
UNITED STATES
Operating Loss Carryforwards [Line Items]
2031	1.1
2037	1.2
2038	3.5
2039	$ 6.9

Segment Information (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total	$ 5,013	$ 20,425
UNITED STATES
Segment Reporting Information [Line Items]
Total	1,823	5,735
UNITED KINGDOM
Segment Reporting Information [Line Items]
Total	$ 3,190	$ 14,690

Subsequent Events (Details)						1 Months Ended
Subsequent Events (Details)	Feb. 28, 2020 USD ($) item $ / shares shares	Feb. 20, 2020 USD ($) item $ / shares shares	Feb. 19, 2020 USD ($) item $ / shares shares	Feb. 13, 2020 USD ($) item $ / shares shares	Jul. 03, 2019 USD ($) item $ / shares shares	Jan. 31, 2020 USD ($) shares	Sep. 26, 2018 USD ($)
Private Placement [Member]
Subsequent Event [Line Items]
Placement agent fees and expenses \| $					$ 337,496
Private Placement [Member] \| Investor Warrants [Member]
Subsequent Event [Line Items]
Warrants issued to purchase ADS (in shares) \| shares					1,184,213
Term of the warrants					5 years
Exercise price of warrants (in dollars per ADS)					$ 3.00
Threshold consecutive trading day period to call for exercise of warrants \| item					10
Threshold minimum daily volume weighted average price (in dollars per ADS)					$ 4.50
Private Placement [Member] \| Placement Agent Warrants [Member]
Subsequent Event [Line Items]
Warrants issued to purchase ADS (in shares) \| shares					177,629
Exercise price of warrants (in dollars per ADS)					$ 2.85
Aspire Capital Fund LLC [Member]
Subsequent Event [Line Items]
Gross proceeds \| $							$ 20,000,000
Subsequent Event [Member] \| Private Placement [Member]
Subsequent Event [Line Items]
Aggregate ADSs issued (in shares) \| shares	5,620,296	5,620,296	5,620,296	5,620,296
Gross proceeds \| $	$ 9,500,000	$ 9,500,000	$ 9,500,000	$ 9,500,000
Share issue price (in dollars per ADS)	$ 1.70	$ 1.70	$ 1.70	$ 1.70
Placement agent fees and expenses \| $	$ 808,362	$ 808,362	$ 808,362	$ 808,362
Subsequent Event [Member] \| Private Placement [Member] \| Investor Warrants [Member]
Subsequent Event [Line Items]
Warrants issued to purchase ADS (in shares) \| shares	2,810,136	2,810,136	2,810,136	2,810,136
Term of the warrants	5 years	5 years	5 years	5 years
Exercise price of warrants (in dollars per ADS)	$ 2.20	$ 2.20	$ 2.20	$ 2.20
Threshold period for exercise of warrants on cashless basis	6 months	6 months	6 months	6 months
Threshold consecutive trading day period to call for exercise of warrants \| item	10	10	10	10
Threshold minimum daily volume weighted average price (in dollars per ADS)	$ 3.30	$ 3.30	$ 3.30	$ 3.30
Subsequent Event [Member] \| Private Placement [Member] \| Placement Agent Warrants [Member]
Subsequent Event [Line Items]
Warrants issued to purchase ADS (in shares) \| shares	449,623	449,623	449,623	449,623
Exercise price of warrants (in dollars per ADS)	$ 2.55	$ 2.55	$ 2.55	$ 2.55
Subsequent Event [Member] \| Aspire Capital Fund LLC [Member]
Subsequent Event [Line Items]
Aggregate ADSs issued (in shares) \| shares						650,000
Gross proceeds \| $						$ 1,108,000