Available-for-Sale Securities (Tables)

12 Months Ended

Dec. 31, 2019

Investments Debt And Equity Securities [Abstract]

Summary of Available-for-sale Securities

The Company’s portfolio of available-for-sale securities consists of U.S. Treasuries and high credit quality corporate debt securities. The following is a summary of the Company’s available-for-sale securities at December 31, 2019 and 2018:  

	December 31, 2019
			Gross				Gross			Fair Value
	Amortized			Unrealized		Unrealized				(Net Carrying
	Cost			Gains		Losses				Amount)
U.S. Treasury securities	$	5,962,224	$		394	$		(635	)	$	5,961,983
Corporate debt securities		19,448,239			—			—			19,448,239
Total available-for-sale securities	$	25,410,463	$		394	$		(635	)	$	25,410,222

	December 31, 2018
			Gross		Gross			Fair Value
	Amortized			Unrealized	Unrealized			(Net Carrying
	Cost			Gains	Losses			Amount)
U.S. Treasury securities	$	6,032,844	$	—	$	(1,329	)	$	6,031,515
Corporate debt securities		16,650,513		—		(979	)		16,649,534
Total available-for-sale securities	$	22,683,357	$	—	$	(2,308	)	$	22,681,049

Summary of Contractual Maturities of Debt Investment Securities

Contractual maturities of debt investment securities at December 31, 2019 are shown below.

	Under
	1 Year		1 to 2 Years		Total
U.S. Treasury securities	$	5,961,983	$	—	$	5,961,983
Corporate debt securities		19,448,239		—		19,448,239
Total available-for-sale securities	$	25,410,222	$	—	$	25,410,222

Summary of Debt Securities with Unrealized Losses

The following table shows the gross unrealized losses and fair values of the Company’s investments that have unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2019:

	Under 1 Year					1 to 2 Years				Total
			Gross					Gross				Gross
	Fair		Unrealized			Fair		Unrealized		Fair		Unrealized
	Value		Losses			Value		Losses		Value		Losses
U.S. Treasury securities	$	3,956,401	$	(635	)	$	—	$	—	$	3,956,401	$	(635	)
Corporate debt securities		—		—			—		—		—		—
Total available-for-sale securities with unrealized    losses	$	3,956,401	$	(635	)	$	—	$	—	$	3,956,401	$	(635	)