Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	December 31,
	2019			2018
Deferred tax assets:
Net operating loss carry forwards	$	8,506,035		$	3,604,179
Capitalized research and development costs		17,477,585			14,381,936
Accrued liabilities		133,933			232,899
Tax credit carryforwards		7,174,516			6,311,164
Stock-based compensation		935,508			394,918
Operating lease		141,777			—
Total deferred tax assets		34,369,354			24,925,096
Valuation allowance		(34,221,451	)		(24,922,829	)
Net deferred tax assets		147,903			2,267
Deferred tax liabilities:
Operating lease right of use asset		(141,777	)		—
Other		(6,126	)		(2,267	)
Total deferred tax liabilities		(147,903	)		(2,267	)
	$	—		$	—

Schedule of Reconciliation of Effective Income Tax Rate

A reconciliation of the U.S. federal statutory tax rate to the effective tax rate is as follows:

	December 31,
	2019			2018
Federal statutory rate		21.0	%		21.0	%
R&D and Orphan Drug credits		4.4	%		10.9	%
State income tax, net of federal tax benefit		6.6	%		2.8	%
Valuation allowance		(31.6	%)		(35.2	%)
Share-based compensation		(0.2	%)		0.0	%
Other, net		(0.2	%)		0.5	%
Effective tax rate		0.0	%		0.0	%