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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,538,069) $ (2,947,420)
Adjustments to reconcile net loss to net cash used in operating activities    
Compensation cost for stock options granted 639,751 687,752
Depreciation and amortization 9,255 12,326
Changes in operating assets and liabilities:    
Prepaid expenses (736,550) (474,776)
Research and development tax rebate receivable (85,089) 5,316
Other assets 581,173 (108,389)
Accounts payable (866,332) 63,081
Accrued expenses 57,788 (25,414)
Payroll liabilities (473,664) (433,037)
Other current liabilities 2,949 (9,434)
Net cash used in operating activities (4,408,788) (3,229,995)
CASH FLOWS FROM INVESTING ACTIVITY    
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITY    
Proceeds from issuance of common stock, net of issuance costs 69,668,408
Proceeds from exercise of warrants 32,760,302 0
Net cash provided by financing activities 102,428,710
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 98,019,922 (3,229,995)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE 39,663,671 12,691,136
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 137,683,593 9,461,141
SUPPLEMENTAL DISCLOSURES    
Cash and cash equivalents 137,573,593 9,351,141
Restricted cash 110,000 110,000
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 137,683,593 9,461,141
NONCASH INVESTING AND FINANCING ACTIVITIES    
Reclassification of the warrant liability to equity upon adoption of accounting standard 13,003,075
Conversion of Series B Convertible Preferred Stock into Common Stock [Member]    
NONCASH INVESTING AND FINANCING ACTIVITIES    
Conversion of convertible preferred stock to common stock $ 1,000