2021 Q1 Form 10-Q Financial Statement
#000114036121017113 Filed on May 13, 2021
Income Statement
Concept | 2021 Q1 | 2020 Q1 |
---|---|---|
Revenue | $0.00 | $0.00 |
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $1.640M | $2.060M |
YoY Change | -20.39% | -45.5% |
% of Gross Profit | ||
Research & Development | $1.413M | $1.972M |
YoY Change | -28.33% | 91.42% |
% of Gross Profit | ||
Depreciation & Amortization | $1.860K | $3.902K |
YoY Change | -52.33% | -79.42% |
% of Gross Profit | ||
Operating Expenses | $3.049M | $4.032M |
YoY Change | -24.37% | -18.32% |
Operating Profit | -$3.049M | -$4.032M |
YoY Change | -24.37% | -18.32% |
Interest Expense | $0.00 | $0.00 |
YoY Change | -100.0% | |
% of Operating Profit | ||
Other Income/Expense, Net | ||
YoY Change | ||
Pretax Income | -$3.050M | -$3.990M |
YoY Change | -23.56% | -158.5% |
Income Tax | $0.00 | $0.00 |
% Of Pretax Income | ||
Net Earnings | -$3.049M | -$3.985M |
YoY Change | -23.51% | -158.47% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | -$0.14 | -$0.39 |
Diluted Earnings Per Share | -$0.14 | -$0.39 |
COMMON SHARES | ||
Basic Shares Outstanding | 22.26M | 10.31M |
Diluted Shares Outstanding | 22.26M | 10.31M |
Balance Sheet
Concept | 2021 Q1 | 2020 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $25.00M | $21.00M |
YoY Change | 19.05% | -21.05% |
Cash & Equivalents | $25.04M | $21.04M |
Short-Term Investments | ||
Other Short-Term Assets | $2.200M | $2.900M |
YoY Change | -24.14% | 123.08% |
Inventory | ||
Prepaid Expenses | ||
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $27.26M | $23.92M |
YoY Change | 13.96% | -14.28% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $3.583K | $17.15K |
YoY Change | -79.11% | -99.05% |
Goodwill | ||
YoY Change | ||
Intangibles | $2.974M | |
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | ||
YoY Change | ||
Total Long-Term Assets | $504.8K | $17.15K |
YoY Change | 2843.48% | -99.45% |
TOTAL ASSETS | ||
Total Short-Term Assets | $27.26M | $23.92M |
Total Long-Term Assets | $504.8K | $17.15K |
Total Assets | $27.76M | $23.93M |
YoY Change | 15.99% | -22.79% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $950.6K | $2.557M |
YoY Change | -62.82% | -5.31% |
Accrued Expenses | $1.855M | $1.220M |
YoY Change | 52.01% | 35.58% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $2.929M | $4.047M |
YoY Change | -27.62% | -26.42% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $500.0K | |
YoY Change | ||
Total Long-Term Liabilities | $500.0K | $0.00 |
YoY Change | -100.0% | |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $2.929M | $4.047M |
Total Long-Term Liabilities | $500.0K | $0.00 |
Total Liabilities | $3.387M | $4.047M |
YoY Change | -16.3% | -38.69% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$46.83M | -$32.92M |
YoY Change | 42.25% | |
Common Stock | $7.346K | $5.064K |
YoY Change | 45.06% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $24.37M | $19.89M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $27.76M | $23.93M |
YoY Change | 15.99% | -22.79% |
Cashflow Statement
Concept | 2021 Q1 | 2020 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$3.049M | -$3.985M |
YoY Change | -23.51% | -158.47% |
Depreciation, Depletion And Amortization | $1.860K | $3.902K |
YoY Change | -52.33% | -79.42% |
Cash From Operating Activities | -$3.802M | -$3.164M |
YoY Change | 20.16% | -6.03% |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $0.00 | |
YoY Change | -100.0% | |
Cash From Investing Activities | $0.00 | |
YoY Change | -100.0% | |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $0.00 | $13.00M |
YoY Change | -100.0% | 1633.33% |
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 0.000 | 12.04M |
YoY Change | -100.0% | 1505.39% |
NET CHANGE | ||
Cash From Operating Activities | -3.802M | -3.164M |
Cash From Investing Activities | 0.000 | |
Cash From Financing Activities | 0.000 | 12.04M |
Net Change In Cash | -3.802M | 8.876M |
YoY Change | -142.84% | -66.49% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$3.802M | -$3.164M |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
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Defined Contribution Plan Cost Recognized
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Depreciation
Depreciation
|
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Allocated Share Based Compensation Expense
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Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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Cash And Cash Equivalents At Carrying Value
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.00033 | |
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Earnings Per Share Diluted
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|
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Depreciation
|
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|
-0.39 | |
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|
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<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="font-weight: bold;"><!--Anchor-->Note 1 – Nature of Operations</div><div><br /></div><div style="text-align: justify; text-indent: 36pt;"><div style="text-align: justify; font-family: 'Times New Roman','Times New Roman',serif; font-size: 10pt;">PDS Biotechnology Corporation, a Delaware corporation (the “Company” or “PDS”), is a clinical-stage immunotherapy company developing a growing pipeline of cancer immunotherapies and infectious disease vaccines designed to overcome the well-established limitations of current immunotherapy technologies.  PDS owns Versamune<sup style="color: rgb(0, 0, 0); vertical-align: text-top; line-height: 1; font-size: smaller;">®</sup>, a proprietary T-cell activating platform designed to train the immune system to better attack and destroy disease. When paired with an antigen, which is a disease-related protein that is recognizable by the immune system, Versamune<sup style="color: rgb(0, 0, 0); vertical-align: text-top; line-height: 1; font-size: smaller;">®</sup> has been shown to induce, <font style="font-style: italic;">in vivo,</font> large quantities of high-quality, highly potent polyfunctional CD8+ killer T-cells, a specific sub-type of CD8+ killer T-cell that is more effective at killing infected or target cells. Our immuno-oncology products can potentially be used as a component of combination products with other leading technologies to provide effective treatments across a range of cancer types. We believe our product candidates are of interest for potential in relation to Human Papillomavirus, or HPV,- associated cancers, melanoma, colorectal, lung, breast and prostate cancers or as monotherapies in early-stage disease.  PDS is working to expand its infectious disease pandemic development program, which includes novel vaccines for COVID-19 and universal influenza.</div></div><div><br /></div><div style="text-align: justify; text-indent: 36pt;">From the Company’s inception, it has devoted substantially all of its efforts to drug development, business planning, engaging regulatory, manufacturing and other technical consultants, acquiring operating assets, planning and executing clinical trials and raising capital.</div><div><br /></div><div style="text-align: justify; text-indent: 36pt;">On March 15, 2019, the Company, then operating as Edge Therapeutics, Inc. (“Edge”), completed its reverse merger with privately held PDS Biotechnology Corporation (“Private PDS”), pursuant to and in accordance with the terms of the Agreement and Plan of Merger, dated as of November 23, 2018, as amended on January 24, 2019, by and among the Company, Echos Merger Sub, a wholly-owned subsidiary of the Company (“Merger Sub”), and Private PDS, whereby Private PDS merged with and into Merger Sub, with Private PDS surviving as the Company’s wholly-owned subsidiary (the “Merger”).<font style="font-style: italic;"> </font>In connection with and immediately following completion of the Merger, the Company effected a 1-for-20 reverse stock split (the “Reverse Stock Split”) and changed its corporate name from Edge Therapeutics, Inc. to PDS Biotechnology Corporation, and Private PDS changed its name to PDS Operating Corporation.</div><div><br /></div><div style="text-align: justify; text-indent: 36pt;">For accounting purposes, the Merger was treated as a “reverse acquisition” under generally accepted accounting principles in the United States (“U.S. GAAP”) and Private PDS is considered the accounting acquirer. Accordingly, upon consummation of the Merger, the historical financial statements of Private PDS became the Company’s historical financial statements, and the historical financial statements of Private PDS are included in the comparative prior periods. As part of the Merger, the Company acquired all of Edge’s assets relating to current and future research and development.</div><div><br /></div><div style="text-align: justify; text-indent: 20pt;">In December 2019, a novel (new) coronavirus known as SARS-CoV-2 was first detected in Wuhan, Hubei Province, People’s Republic of China, causing outbreaks of the coronavirus disease, known as COVID-19, that has now spread globally. On January 30, 2020, the World Health Organization (WHO) declared COVID-19 a public health emergency. The Secretary of Health and Human Services declared a public health emergency on January 31, 2020, under section 319 of the Public Health Service Act (42 U.S.C. 247d), in response to the COVID-19 outbreak. On March 11, 2020, the WHO declared COVID-19 a pandemic and on March 13 the President declared a national emergency in response to the pandemic. The full impact of the COVID-19 pandemic is unknown and rapidly evolving. The COVID-19 pandemic has and could continue to negatively affect the Company’s liquidity and operations.  To date, two of the three recently initiated PDS0101 clinical trials were delayed, specifically as a result of the adverse impact the COVID-19 pandemic has had on clinical trial operations for cancer indications in the United States. The FDA issued and since updated guidance to assist sponsors in assuring the safety of trial participants, maintaining compliance with Good Clinical Practice (GCP) and minimizing risks to trial integrity.  Clinical trial sites have implemented institution-specific measures securing the safety of patients and staff to ensure the integrity of the trials in the face of the ongoing pandemic. All three studies have since been initiated despite the pandemic challenges; however, the evolving COVID-19 pandemic has impacted the pace of enrollment in clinical trials in general and we may be negatively affected with our trials. COVID-19 related travel and other restrictions may also impact the potential for on-site monitoring visiting and audits and inspections by us, third parties, and regulators. There may be shortages of site personnel and equipment necessary for the timely completion of our trials. We are providing support to address these challenges, but these mitigation measures may not overcome the obstacles that the pandemic has wrought which continue to impede progress of clinical trials.</div><div style="text-align: justify; text-indent: 20pt;"><br /></div><div style="text-align: justify; text-indent: 36pt;">Although there is uncertainty related to the anticipated impact of the COVID-19 pandemic on our future results, we believe our current cash reserves, leave us well-positioned to manage our business through this crisis as it continues to unfold. However, the impacts of the COVID-19 pandemic are broad-reaching and continuing and the financial impacts associated with the COVID-19 pandemic are still uncertain.</div><div><br /></div><div style="text-align: justify; text-indent: 36pt;">Despite the economic uncertainty resulting from the COVID-19 pandemic, we intend to continue to focus on the development of our product candidates and we have expanded our infectious disease pipeline since the pandemic brought renewed resources and interest in technologies such as the Versamune® platform in the context of research and development in prevention of COVID-19.  We are working with a consortium of partners in Brazil to develop PDS0203; a vaccine for the prevention of COVID-19.  This consortium received a commitment from the Secretary for Research and Scientific Training of The Ministry of Science, Technology and Innovation of Brazil to fund up to approximately US$60 million to support the clinical development and commercialization of a Versamune®-based COVID-19 vaccine in Brazil.</div></div> | |
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-3048618 | |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3985408 | |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | |
CY2020Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
12040461 | |
CY2020Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
0 | |
CY2021Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
42057 | |
CY2020Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
700000 | |
CY2021Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
581945 | |
CY2021Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
458291 | |
CY2020Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
490353 | |
CY2020Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
119904 | |
CY2021Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
123654 | |
CY2021Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
3049273 | |
CY2020Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
4031827 | |
CY2020Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
547706 | |
CY2021Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
501194 | |
CY2020Q2 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
700000 | |
CY2021Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
60257 | |
CY2020Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
0 | |
CY2021Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3049273 | |
CY2020Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4031827 | |
CY2020Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1497665 | |
CY2021Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2219514 | |
CY2021Q1 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
0 | |
CY2020Q1 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
70459 | |
CY2021Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | |
CY2020Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
11970002 | |
CY2020Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
13000000 | |
CY2020Q3 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
19000000 | |
CY2020Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
5443 | |
CY2021Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3583 | |
CY2020Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
0 | |
CY2021Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
0 | |
CY2021Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1413057 | |
CY2020Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1971679 | |
CY2020Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-43785085 | |
CY2021Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-46833703 | |
CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y9M25D | |
CY2020Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y0M4D | |
CY2020Q3 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
17100000 | |
CY2020Q1 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
11900000 | |
CY2020Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
124992 | |
CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
257622 | |
CY2019Q3 | us-gaap |
Share Price
SharePrice
|
5.76 | |
CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.0000 | |
CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.0000 | |
CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.9256 | |
CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.0038 | |
CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.99 | |
CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.73 | |
CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0156 | |
CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0035 | |
CY2020Q3 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
2.75 | |
CY2020Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
1.30 | |
CY2021Q1 | us-gaap |
Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
|
35747 | |
CY2020Q1 | us-gaap |
Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
|
9800 | |
CY2020Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
10000000 | |
CY2020Q3 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
6900000 | |
CY2020Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
11970002 | |
CY2019Q1 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.05 | |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
24374327 | |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
27129576 | |
CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11697707 | |
CY2020Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
19887552 | |
CY2020Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2021Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2020Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10314761 | |
CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
22263838 | |
CY2020Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10314761 | |
CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
22263838 | |
CY2021Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;"><tr><td style="width: 36pt; vertical-align: top; font-weight: bold;">(B)</td><td style="width: auto; vertical-align: top;"><div style="font-weight: bold;">Use of estimates:</div></td></tr></table><div><br /></div><div style="text-align: justify; text-indent: 36pt;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of expenses at the date of the consolidated financial statements and during the reporting periods, and to disclose contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates.</div></div> | |
CY2019Q3 | pdsb |
Operating Lease Number Of Installments For Remaining Lease Payment
OperatingLeaseNumberOfInstallmentsForRemainingLeasePayment
|
3 | |
CY2019Q3 | pdsb |
Operating Lease Remaining Lease Payments
OperatingLeaseRemainingLeasePayments
|
665802 | |
CY2021Q1 | pdsb |
Number Of Planned Clinical Trials Delayed
NumberOfPlannedClinicalTrialsDelayed
|
2 | |
CY2021Q1 | pdsb |
Number Of Planned Clinical Trials
NumberOfPlannedClinicalTrials
|
3 | |
CY2020Q4 | us-gaap |
Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
|
1310720 | |
CY2021Q1 | us-gaap |
Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
|
1510629 | |
CY2021Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2021Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2021Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2021-03-31 | |
CY2021Q1 | dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
NJ | |
CY2021Q1 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2021Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | |
CY2021Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
PDS Biotechnology Corp | |
CY2021Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001472091 | |
CY2021Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
22278261 | |
CY2021Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2021 | |
CY2021Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2021Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2021Q1 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | |
CY2021Q1 | dei |
Entity Shell Company
EntityShellCompany
|
false | |
CY2021Q1 | dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
false | |
CY2021Q1 | dei |
Entity Small Business
EntitySmallBusiness
|
true | |
CY2021Q1 | pdsb |
Number Of Equity Based Compensation Plans
NumberOfEquityBasedCompensationPlans
|
3 | |
CY2020Q3 | pdsb |
Shelf Registration Statement Available For Future Sale
ShelfRegistrationStatementAvailableForFutureSale
|
100000000 | |
CY2019Q3 | pdsb |
Stock Issued During Period Shares Equity Transaction
StockIssuedDuringPeriodSharesEquityTransaction
|
100654 | |
CY2019Q3 | pdsb |
Common Stock Purchase Agreement Shares That Can Be Sold Percentage
CommonStockPurchaseAgreementSharesThatCanBeSoldPercentage
|
0.1999 | |
CY2021Q1 | pdsb |
Common Stock Purchase Agreement Cumulative Shares Sold
CommonStockPurchaseAgreementCumulativeSharesSold
|
0 | |
CY2021Q1 | pdsb |
Shelf Securities Available For Sale
ShelfSecuritiesAvailableForSale
|
81000000 | |
CY2020Q1 | pdsb |
Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
|
70459 | |
CY2021Q1 | pdsb |
Liability For Uncertain Tax Positions
LiabilityForUncertainTaxPositions
|
0 | |
CY2021Q1 | pdsb |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-42057 | |
CY2020Q1 | pdsb |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
0 | |
CY2020Q4 | pdsb |
Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
|
204780 | |
CY2021Q1 | pdsb |
Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
|
23900 | |
CY2021Q1 | pdsb |
Lessee Operating Lease Liability To Be Paid Year Four And Thereafter
LesseeOperatingLeaseLiabilityToBePaidYearFourAndThereafter
|
0 | |
CY2019Q3 | pdsb |
Operating Lease Percentage Of Remaining Payments Required To Be Paid To Terminate Lease
OperatingLeasePercentageOfRemainingPaymentsRequiredToBePaidToTerminateLease
|
0.5 |