Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Reconciliation of Effective Income Tax Rate to Statutory Federal Rate

The Company’s effective income tax rate differs from the statutory federal income tax rate as follows for the years ended December 31, 2023 and 2022.

	December 31,
	2023		2022
Federal statutory rate	(21.0)	%	(21.0)	%
State tax provision, net of federal provision	(1.0)		(4.9)
Permanent items	0.1		0.1
Federal research and development credits	(2.0)		(3.3)
382 Limitation - NOL and tax credits	—		(17.4)
Valuation allowance	23.9		46.5
Effective income tax rate	—		—

Schedule of Deferred Tax Assets

The Company’s deferred tax assets consist of the following:

	December 31,
	2023		2022
Deferred tax assets:
Net operating loss carryforwards	$	4,289,409	$	3,369,688
Research and development credit carryforwards	544,415		310,000
Accrued expenses	44,497		74,459
Inventory reserve	97,378		88,983
Stock-based compensation	311,039		323,337
Lease liability	56,481		87,872
Capitalized R&D	1,131,902		719,888
Other	1,596		—
Total gross deferred tax assets	6,476,717		4,974,227
Valuation allowance	(6,418,062)		(4,868,469)
Deferred tax liabilities:
Right of use asset	$	(58,655)	$	(91,502)
Other	$	—	$	(14,256)
Net deferred tax assets	$	—	$	—