Fair Value (Tables)

12 Months Ended

Dec. 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 measured at fair value on a recurring basis as of December 31, 2021 and 2020, respectively, in the fair value hierarchy:

	December 31, 2021
	Level 1		Level 2		Level 3		Total
Asset included in:
Cash and cash equivalents
Money market securities	$	9,083,302	$	—	$	—	$	9,083,302
Investments available-for-sale at fair value
Corporate debt securities		—		12,343,456		—		12,343,456
Total	$	9,083,302	$	12,343,456	$	—	$	21,426,758
	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