Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Deferred Tax Assets

The components of the Company’s deferred tax assets and deferred tax liabilities are as follows:

	December 31, 2022			December 31, 2021
Deferred tax assets:
Net federal operating loss carryforward	$	96,156,250		$	76,470,431
Net foreign operating loss carryforward		2,794,785			88,480
Net state operating loss carryforward		32,029,378			47,672,157
Non-cash compensation		11,027,745			13,228,425
Research and development credits		15,015,642			14,455,797
Interest Expense		318,798			4,117,655
Intangible Assets		10,422,110			—
Accrued expenses		2,113,054			1,479,728
Section 174 Capitalization		14,540,848			—
Other		109,988			219,760
Deferred tax asset, excluding valuation allowance		184,528,598			157,732,433
Deferred tax liabilities:
Lease Asset		(104,001	)		(224,958	)
Deferred tax liability, excluding valuation allowance		(104,001	)		(224,958	)
Less valuation allowance		(184,424,597	)		(157,507,475	)
Net deferred tax assets	$	—		$	—

Schedule of Income Tax Rate Reconciliation

A reconciliation of income tax expense (benefit) at the statutory federal income tax rate and income taxes as reflected in the consolidated financial statements is as follows:

	December 31, 2022			December 31, 2021			December 31, 2020
U.S. federal statutory income tax rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal benefit		4.5			14.0			13.7
Foreign Rate Differential		1.2			—			—
Stock based compensation - Excess tax benefit		1.0			1.8			1.8
Other permanent differences		(0.3	)		(0.1	)		(0.6	)
Tax credit		(0.6	)		1.3			2.5
Deferred tax adjustment		(2.9	)		—			—
Change in valuation allowance		(23.9	)		(38.0	)		(38.4	)
Effective tax rate		—	%		—	%		—	%