Cash, Cash Equivalents and Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2022

Cash and Cash Equivalents [Abstract]

Schedule of Cash, and Cash Equivalents

At June 30, 2022, cash, cash equivalents, and marketable securities were comprised of:

	Carrying Amount		Unrecognized Loss			Estimated Fair Value		Cash and Cash Equivalents		Current Marketable Securities
Cash	$	33,372,798	$	—		$	33,372,798	$	33,372,798	$	—
Money market funds		8,639,217		—			8,639,217		8,639,217		—
Reverse repurchase agreements		79,000,000		—			79,000,000		79,000,000		—
Total cash and cash equivalents	$	121,012,015	$	—		$	121,012,015	$	121,012,015		—
U.S. government agency securities		75,962,803		(285,763	)		75,677,040		—		75,677,040
Available for sale (1)		75,962,803		(285,763	)		75,677,040		—		75,677,040
Total cash, cash equivalents, and current marketable securities								$	121,012,015	$	75,677,040

At December 31, 2021, cash, cash equivalents, and marketable securities were comprised of:

	Carrying Amount		Unrecognized Loss		Estimated Fair Value		Cash and Cash Equivalents		Current Marketable Securities
Cash	$	100,364,523	$	—	$	100,364,523	$	100,364,523	$	—
Money market funds		4,426,466		—		4,426,466		4,426,466		—
Reverse repurchase agreements		125,000,000		—		125,000,000		125,000,000		—
Total cash and cash equivalents	$	229,790,989	$	—	$	229,790,989	$	229,790,989		—
Available for sale (1)		—		—		—		—		—
Total cash, cash equivalents, and current marketable securities							$	229,790,989	$	—

There were no marketable securities held at December 31, 2021.

(1)Available for sale securities are reported at fair value with unrealized gains and losses reported net of taxes, if material, in other comprehensive income.