MyMD Pharmaceuticals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Recent Developments, Liquidity and Management's Plans (Details Narrative)

Recent Developments, Liquidity and Management's Plans (Details Narrative)																1 Months Ended	3 Months Ended				6 Months Ended
	Aug. 13, 2020 USD ($) $ / shares shares	Aug. 11, 2020 USD ($) $ / shares shares	Jul. 21, 2020 USD ($)	Jul. 20, 2020 USD ($) $ / shares shares	May 18, 2020 USD ($) $ / shares shares	May 14, 2020	Apr. 30, 2020 USD ($)	Apr. 22, 2020 USD ($)	Apr. 20, 2020 USD ($)	Apr. 16, 2020 USD ($) $ / shares shares	Apr. 10, 2020 USD ($)	Apr. 07, 2020 USD ($) $ / shares shares	Mar. 24, 2020 USD ($) $ / shares shares	Mar. 23, 2020 USD ($)	Dec. 09, 2019 USD ($)	Aug. 11, 2020 USD ($) $ / shares shares	Jun. 30, 2020 USD ($) $ / shares shares	Mar. 31, 2020 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Jun. 30, 2020 USD ($) $ / shares shares	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($)
Research and development expenses																	$ 1,916,161				$ 4,399,218
Liabilities																	2,705,590				2,705,590		$ 1,529,765
Cash and marketable securities																	11,561,811				11,561,811
Restricted cash																	115,094				115,094
Marketable securities																	6,856,805				6,856,805
Net loss																	(3,628,131)	$ (3,538,536)	(794,891)	$ (916,958)	(7,166,667)	(1,711,849)
Working capital																	15,772,329				15,772,329
Total shareholders' equity																	$ 15,972,148	6,817,451	4,314,134	4,965,918	15,972,148	4,314,134	$ 9,355,170	$ 5,833,753
Net cash used in operating activities																					(3,883,101)	(1,610,352)
Milestone license fees																					4,375,557
Sale of stock \| shares										1,043,500		766,667
Sale of stock price per share \| $ / shares										$ 4.00		$ 6.00
Proceeds from issuance of stock, gross									$ 250,000			$ 4,600,002									$ 8,406,927
Proceeds from issuance of stock, net										$ 4,174,000		$ 4,086,207
Warrants to purchase shares \| shares												61,333
Warrants exercise price \| $ / shares												$ 7.50					$ 0.0001				$ 0.0001
Proceeds from issuance of warrant															$ 80
Securities Purchase Agreement [Member] \| May Offering [Member]
Sale of stock \| shares					1,366,856
Sale of stock price per share \| $ / shares					$ 3.53
Proceeds from issuance of stock, gross					$ 4,825,002
Proceeds from issuance of stock, net					$ 4,320,720
Placement Agent [Member] \| May Offering [Member]
Warrants to purchase shares \| shares					109,348
Warrants exercise price \| $ / shares					$ 4.4125
COVID-19 Vaccine [Member]
Royalty payments, description														The Company shall also make quarterly royalty payments to Sellers equal to 5% of the net sales of a COVID-19 vaccine or combination product by the Company (the "COVID-19 Vaccine") for a period of five (5) years following the first commercial sale of the COVID-19 Vaccine; provided, that such payment shall be reduced to 3% for any net sales of the COVID-19 Vaccine above $500 million.
Series D Convertible Preferred Stock [Member]
Preferred stock, stated value \| $ / shares																	$ 0.01				$ 0.01		$ 0.01
Conversion of series d convertible preferred shares for common stock, shares \| shares																	(2,776)
Preferred stock, shares issued \| shares																	208,577				208,577		0
Preferred stock, shares outstanding \| shares																	208,577				208,577		0
Net loss
Total shareholders' equity																	$ 412,982	418,479			$ 412,982
Series C Convertible Preferred Stock [Member]
Preferred stock, stated value \| $ / shares																	$ 4.00				$ 4.00		$ 4.00
Preferred stock, shares issued \| shares																	0				0		0
Preferred stock, shares outstanding \| shares																	0				0		0
Warrants to purchase shares \| shares																	1,043,500				1,043,500
Warrants exercise price \| $ / shares																	$ 4.00				$ 4.00
Proceeds from issuance of warrant																					$ 4,174,000
Series C Convertible Preferred Stock [Member] \| Subsequent Event [Member]
Warrants to purchase shares \| shares		891,500		60,000												891,500
Warrants exercise price \| $ / shares		$ 4.00		$ 4.00												$ 4.00
Proceeds from issuance of warrant				$ 240,000												$ 3,566,000
Common Stock [Member]
Conversion of series d convertible preferred shares for common stock, shares \| shares																	2,776				2,776
Net loss
Total shareholders' equity																	$ 142,330,116	$ 129,743,689	$ 121,699,375	$ 121,574,327	$ 142,330,116	$ 121,699,375	$ 128,920,414	$ 121,554,547
Preferred Stock [Member]
Conversion of series d convertible preferred shares for common stock, shares \| shares																	2,776				2,776
Membership Interest Purchase Agreement [Member]
Research and development expenses																	$ 1,142,500
Portion of cash purchase price returned							$ 83,334
Payment to sellers														$ 1,000,000
Proceeds from initial equity offering														$ 8,000,000
Percentage of payment to sellers on equity offering														10.00%
Additional cash consideration														$ 10,000,000
Achievement of milestone, description														Upon the achievement of certain milestones, including the completion of a Phase 2 study for a COVID-19 vaccine that meets its primary endpoints, Sellers will be entitled to receive an additional 750,000 shares of our common stock or, in the event we are unable to obtain stockholder approval for the issuance of such shares, 750,000 shares of non-voting preferred stock that are valued following the achievement of such milestones and shall bear a 10% annual dividend (the "Milestone Shares"). Sellers will also be entitled to contingent payments from us of up to $20,750,000 upon the achievement of certain milestones, including the approval of a new drug application by the U.S. Food and Drug Administration ("FDA").
Contingent payments upon achievement of certain milestones									$ 250,000					$ 20,750,000
Liabilities														$ 892,500
Payment to sellers upon consummation direct equity offering					$ 684,790
Royalty payments to sellers, percentage														0.125
Membership Interest Purchase Agreement [Member] \| Premas Biotech PVT Ltd [Member]
Achievement of milestone, description						The Company and Premas agreed that the fourth milestone under the License Agreement had been satisfied. Due to the achievement of this milestone, Premas is entitled to receive a payment of $1,000,000.
Membership Interest Purchase Agreement [Member] \| Cystron Biotech, LLC [Member]
Agreement description														As consideration for the Membership Interests, the Company delivered to the Sellers: (1) that number of newly issued shares of its common stock equal to 19.9% of the issued and outstanding shares of its common stock and pre-funded warrants as of the date of the MIPA, but, to the extent that the issuance of its common stock would have resulted in any Seller owning in excess of 4.9% of the Company's outstanding common stock, then, at such Seller's election, such Seller received "common stock equivalent" preferred shares with a customary 4.9% blocker (with such common stock and preferred stock collectively referred to as "Common Stock Consideration"), and (2) $1,000,000 in cash. On March 24, 2020 the Company paid $1,000,000 to the Sellers and delivered 411,403 shares of common stock and 211,353 shares of Series D Convertible Preferred Stock with a customary 4.9% blocker, with an aggregate fair market value of $1,233,057, and recorded $2,233,057 as a charge to research and development expense within the Condensed Consolidated Statements of Operations and Comprehensive Loss. On April 22, 2020, Premas, one of the Sellers, returned to us $299,074 representing its portion of the cash purchase price to acquire Cystron. Premas has advised us that these funds were returned temporarily in order for Premas to meet certain regulatory requirements in India.
Proceeds from collaborators														$ 1,000,000
Payment to the sellers														$ 1,000,000
Portion of cash purchase price returned								$ 299,074
Membership Interest Purchase Agreement [Member] \| Cystron Biotech, LLC [Member] \| Premas Biotech PVT Ltd [Member]
Achievement of milestone, description														Upon the achievement of certain developmental milestones by Cystron, Cystron shall pay to Premas a total of up to $2,000,000. On April 16, 2020, the Company paid Premas $500,000 for the achievement of the first two development milestones, of which $250,000 was accrued as research and development expense for the three months ended March 31, 2020.
Membership Interest Purchase Agreement [Member] \| Cystron Biotech, LLC [Member] \| Series D Convertible Preferred Stock [Member]
Number of shares delivered \| shares													211,353
Percentage of blocker													4.90%
Fair market value shares delivered													$ 1,233,057
Research and development expenses													$ 2,233,057
Membership Interest Purchase Agreement [Member] \| Cystron Biotech, LLC [Member] \| Common Stock [Member]
Number of shares delivered \| shares													411,403
Fair market value shares delivered													$ 1,233,057
Research and development expenses													$ 2,233,057
Cystron Medical Panel [Member]
Research and development expenses																	$ 10,274				$ 10,274
Achievement of milestone, description											The Cystron Medical Panel and appointed its first member to the panel. Each member shall be compensated with an initial grant of the Company's common stock with an aggregate fair market value of $25,000 and a monthly cash stipend in the initial amount of $2,500
Fair market value common stock											$ 25,000
Monthly cash stipend in initial amount											$ 2,500
Certificate of Designation [Member]
Preferred stock, stated value \| $ / shares													$ 0.01
Conversion price, per share \| $ / shares													$ 0.01
Stock issuance description													A holder of Preferred Stock will be prohibited from converting Preferred Stock into shares of our common stock if, as a result of such conversion, the holder, together with its affiliates, would own more than 4.99% of the total number of shares of our common stock then issued and outstanding (with such ownership restriction referred to as the "Beneficial Ownership Limitation"). However, any holder may increase or decrease such percentage to any other percentage not in excess of 9.99%, provided that any increase in such percentage shall not be effective until 61 days after such notice to us.
August Offering [Member] \| Subsequent Event [Member]
Sale of stock price per share \| $ / shares	$ 5.67
Proceeds from issuance of stock, gross	$ 6,847,908	$ 6,178,000
Warrants to purchase shares \| shares	96,620
Warrants exercise price \| $ / shares	$ 7.0875
Aggregate number of shares of common stock issued during period \| shares	1,207,744
Warrant expire date	Aug. 11, 2025
Consulting Agreement [Member] \| Chief Financial Officer [Member] \| Subsequent Event [Member]
Consulting appointment description			the Company appointed Mr. Stuart Benson as Chief Financial Officer, effective August 19, 2020, with a term ending June 30, 2021.
Initial retainer fee			$ 7,500
Fixed monthly payment			$ 13,500