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Commitments and Contingencies (Details Textual) | 1 Months Ended | 12 Months Ended
--- | --- | ---
Aug. 20, 2007 USD ($) LicensedProduct | Jun. 30, 2016 USD ($) | Jun. 30, 2015 USD ($)
Commitments and Contingencies (Textual) |  |  |
Royalty payments, Description |  | (A) royalty payments up to 2% on net sales of licensed products that are not sold by sublicensee and (B) on each and every sublicense earned royalty payment received by licensee from its sublicensee on sales of license product. |
Royalty received by licensee, Description |  | (i) 20% of the royalties received by licensee; or (ii) up to 2% of net sales of sublicensee. The Company will also make milestone payments of up to $4 or $2 million, for the first commercial sale of product in the field that has a single active pharmaceutical ingredient, and for the first commercial sale of product in the field of product that has more than one active pharmaceutical ingredient, respectively. As of June 30, 2016, the Company has not generated any revenue related to this license agreement. |
Cost of license |  | $ 16,620 |
Letter of credit |  | 390,800 |
Deferred rent liability |  | 91,000 |
Lease deposit |  | 50,000 |
Lease deposit in other assets |  | 390,000 | $ 390,000
License Agreements [Member] |  |  |
Commitments and Contingencies (Textual) |  |  |
Number of licensed products | LicensedProduct | 2 |  |
License fees received | $ 1,500,000 |  |
Royalties, Description | License fee of $1,500,000 and will earn royalties of up to 12% of net sales for up to two licensed products it is currently developing. |  |
License Agreements [Member] | Minimum [Member] |  |  |
Commitments and Contingencies (Textual) |  |  |
License expiry term | 15 years |  |
License Agreements [Member] | Maximum [Member] |  |  |
Commitments and Contingencies (Textual) |  |  |
License expiry term | 20 years |  |
Lease Agreements [Member] |  |  |
Commitments and Contingencies (Textual) |  |  |
Rent expense |  | $ 380,100 | $ 239,800
Description of lease expiration date |  | The lease expires in December 2023. In addition, the Company has a lease expiring in 2017 for its Pennsylvania office location. |
Term of license |  | 3 years |
October 2017 [Member] |  |  |
Commitments and Contingencies (Textual) |  |  |
Letter of credit decrease amount |  | $ 234,400 |
October 2022 [Member] |  |  |
Commitments and Contingencies (Textual) |  |  |
Letter of credit decrease amount |  | $ 156,000 |

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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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