Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

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,
	2020			2019
Deferred tax assets:
Net operating loss carry forwards	$	11,979,869		$	8,506,035
Capitalized research and development costs		18,650,538			17,477,585
Accrued liabilities		111,481			133,933
Tax credit carryforwards		7,755,146			7,174,516
Stock-based compensation		1,229,407			935,508
Operating lease		86,491			141,777
Total deferred tax assets		39,812,932			34,369,354
Valuation allowance		(39,726,441	)		(34,221,451	)
Net deferred tax assets		86,491			147,903
Deferred tax liabilities:
Operating lease right of use asset		(86,491	)		(141,777	)
Other		—			(6,126	)
Total deferred tax liabilities		(86,491	)		(147,903	)
	$	—		$	—

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,
	2020			2019
Federal statutory rate		21.0	%		21.0	%
R&D and Orphan Drug credits		2.5	%		4.4	%
State income tax, net of federal tax benefit		1.5	%		6.6	%
Valuation allowance		(24.3	%)		(31.6	%)
Share-based compensation		(0.8	%)		(0.2	%)
Other, net		0.1	%		(0.2	%)
Effective tax rate		0.0	%		0.0	%