Fair Value Instruments (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2019 and December 31, 2018 in the fair value hierarchy:

	September 30, 2019
	Level 1		Level 2		Level 3		Total
Asset included in:
Cash and cash equivalents
Money market securities	$	33,666,299	$	549,106	$	—	$	34,215,405
Investments available-for-sale at fair value
U.S. government obligations		—		—		—		—
Corporate debt securities		—		3,037,393		—		3,037,393
Total	$	33,666,299	$	3,586,499	$	—	$	37,252,798
	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