Fair Value Instruments (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021 and December 31, 2020 in the fair value hierarchy:

	March 31, 2021
	Level 1		Level 2		Level 3		Total
Asset included in:
Cash and cash equivalents
Money market securities	$	21,410,606	$	—	$	—	$	21,410,606
Investments available-for-sale at fair value
Corporate debt securities		—		8,987,844		—		8,987,844
Total	$	21,410,606	$	8,987,844	$	—	$	30,398,450
	December 31, 2020
	Level 1		Level 2		Level 3		Total
Asset included in:
Cash and cash equivalents
Money market securities	$	17,497,282	$	—	$	—	$	17,497,282
Corporate debt securities		—		4,499,270		—		4,499,270
Investments available-for-sale at fair value
Corporate debt securities		—		6,298,075		—		6,298,075
Total	$	17,497,282	$	10,797,345	$	—	$	28,294,627