Fair Value Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table classifies the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 in the fair value hierarchy:

	June 30, 2022
	Level 1		Level 2		Level 3		Total
Asset included in:
Cash and cash equivalents
Money market securities	$	3,537,763	$	—	$	—	$	3,537,763
Corporate debt securities		—		899,501		—		899,501
Investments available-for-sale at fair value
U.S. Treasury securities		6,994,938		—		—		6,994,938
Corporate debt securities		—		1,347,246		—		1,347,246
Total	$	10,532,701	$	2,246,747	$	—	$	12,779,448
	December 31, 2021
	Level 1		Level 2		Level 3		Total
Asset included in:
Cash and cash equivalents
Money market securities	$	9,083,302	$	—	$	—	$	9,083,302
Investments available-for-sale at fair value
Corporate debt securities		—		12,343,456		—		12,343,456
Total	$	9,083,302	$	12,343,456	$	—	$	21,426,758