INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities were as follows:

	December 31,
	2023		2022
Deferred tax assets/liabilities:
Net operating loss carryovers	$	55,653,286	$	55,472,573
Intangible assets	7,522,067		6,332,176
Capitalized research and experimental costs	10,909,248		4,246,071
Stock-based compensation	7,248,199		4,384,751
Royalty monetization liability	8,427,970		—
Lease liability	4,495,402		3,544,624
Research and development tax credits	2,877,649		3,046,253
Accrued compensation	—		—
Charitable contributions	—		—
Depreciation	(166,075)		(241,096)
Right-of-use asset	(3,903,379)		(3,198,857)
Other	(434,957)		97,494
Total gross deferred tax assets/liabilities	92,629,410		73,683,989
Valuation allowance	(92,629,410)		(73,683,989)
Net deferred tax assets (liabilities)	$	—	$	—

Schedule of Reconciliation of Statutory U.S. Federal Rate to Effective Tax Rate

A reconciliation of the statutory U.S. Federal rate to the Company’s effective tax rate is as follows:

	December 31,
	2023		2022
Federal income tax benefit at statutory rate	21.00		21.00
State income tax, net of federal benefit	9.12		(0.27)
Permanent items	(1.32)		(1.26)
Change in valuation allowance	(29.23)		(18.50)
Research and development tax credits	1.05		1.28
Other	(0.62)		(2.25)
Effective income tax expense rate	0.00	%	0.00	%