Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

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,
	2021			2020
Deferred tax assets:
Net operating loss carry forwards	$	12,059,019		$	11,979,869
Capitalized research and development costs		18,865,707			18,650,538
Accrued liabilities		156,415			111,481
Tax credit carryforwards		8,730,816			7,755,146
Stock-based compensation		1,745,654			1,229,407
Deferred collaboration funding		3,312,415			—
Operating lease		94,946			86,491
Total deferred tax assets		44,964,972			39,812,932
Valuation allowance		(44,866,411	)		(39,726,441	)
Net deferred tax assets		98,561			86,491
Deferred tax liabilities:
Operating lease right of use asset		(94,945	)		(86,491	)
Unrealized foreign exchange gain		(3,616	)		—
Total deferred tax liabilities		(98,561	)		(86,491	)
	$	—		$	—

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,
	2021			2020
Federal statutory rate		21.0	%		21.0	%
R&D and Orphan Drug credits		6.4	%		2.5	%
State income tax, net of federal tax benefit		5.4	%		1.5	%
Valuation allowance		(33.2	%)		(24.3	%)
Share-based compensation		(0.3	%)		(0.8	%)
Other, net		0.7	%		0.1	%
Effective tax rate		0.0	%		0.0	%