Fair Value Instruments (Tables)

3 Months Ended

Mar. 31, 2022

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 as of March 31, 2022 and December 31, 2021 in the fair value hierarchy:

	March 31, 2022
	Level 1		Level 2		Level 3		Total
Asset included in:
Cash and cash equivalents
Money market securities	$	13,966,691	$	—	$	—	$	13,966,691
Investments available-for-sale at fair value
Corporate debt securities		—		6,948,584		—		6,948,584
Total	$	13,966,691	$	6,948,584	$	—	$	20,915,275
	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