Available-for-Sale Securities (Tables)

9 Months Ended

Sep. 30, 2020

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 September 30, 2020 and December 31, 2019:  

	September 30, 2020
			Gross		Gross		Fair Value
	Amortized		Unrealized		Unrealized		(Net Carrying
	Cost		Gains		Losses		Amount)
U.S. Treasury securities	$	3,234,037	$	4,051	$	—	$	3,238,088
Corporate debt securities		8,394,072		—		—		8,394,072
Total available-for-sale securities	$	11,628,109	$	4,051	$	—	$	11,632,160

	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

Summary of Contractual Maturities of Debt Investment Securities

Contractual maturities of debt investment securities at September 30, 2020 are shown below.

	Under
	1 Year		1 to 2 Years		Total
U.S. Treasury securities	$	3,238,088	$	—	$	3,238,088
Corporate debt securities		8,394,072		—		8,394,072
Total available-for-sale securities	$	11,632,160	$	—	$	11,632,160