Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Fair Value of Stock Options Issued to Employees

The fair value of stock option issued to employees was estimated at the date of grant using Black-Scholes with the following weighted-average assumptions:

	For the Year Ended December 31,
	2020			2019
Expected volatility		102.35	%		92.68	%
Expected term (years)		5.88			5.89
Risk-free interest rate		1.24	%		2.17	%
Expected dividend yield		0.00	%		0.00	%

Schedule of Information Related to Stock Options Outstanding

A summary of stock option activity under the Plans is presented below:

	Number of Stock Options			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding, December 31, 2019		973,172		$	4.36		5.91	$	—
Granted		708,000		$	4.75
Exercised		(46,966	)	$	2.74
Forfeited or expired		(7,454	)	$	6.48
Outstanding, December 31, 2020		1,626,752		$	4.58		5.90	$	12,234,740
Exercisable, December 31, 2020		550,518		$	5.93		5.74	$	4,104,806
Vested and expected to vest, December 31, 2020		968,611		$	3.88		5.98	$	8,129,935

Summary of Restricted Stock Activity

A summary of restricted stock activities is presented below:

	Shares			Weighted- average Grant Date Fair Value
Unvested, December 31, 2019		235,666		$	3.87
Granted		124,525			9.81
Vested		(190,465	)		7.15
Unvested, December 31, 2020		169,726		$	4.54

Schedule of Stock-based Compensation Expense

Stock-based compensation expense is classified in the accompanying consolidated statements of operations and comprehensive loss for the years ended December 31, 2020 and 2019 as follows:

	Year Ended December 31,
	2020		2019
Research and development	$	357,762	$	356,718
General and administrative		2,218,244		907,513
Total	$	2,576,006	$	1,264,231