Fair Value Instruments (Tables)

3 Months Ended

Mar. 31, 2019

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 at March 31, 2019 and December 31, 2018, respectively, in the fair value hierarchy:

	Balance at March 31, 2019
	Level 1		Level 2		Level 3		Total
Asset included in:
Cash and cash equivalents
Money market securities	$	6,726,037	$	—	$	—	$	6,726,037
Investments available-for-sale at fair value
U.S. government obligations		2,572,596		—		—		2,572,596
Corporate debt securities		—		15,484,077		—		15,484,077
Total	$	9,298,633	$	15,484,077	$	—	$	24,782,710
	Balance at December 31, 2018
	Level 1		Level 2		Level 3		Total
Asset included in:
Cash and cash equivalents
Money market securities	$	6,923,255	$	998,400	$	—	$	7,921,655
Investments available-for-sale at fair value
U.S. government obligations		6,031,515		—		—		6,031,515
Corporate debt securities		—		16,649,534		—		16,649,534
Total	$	12,954,770	$	17,647,934	$	—	$	30,602,704