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Stock Based Compensation (Tables)
6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense stock options and restricted stock
   Three Months
Ended
June 30,
2021
   Six Months
Ended
June 30,
2021
   Three Months
Ended
June 30,
2020
   Six Months
Ended
June 30,
2020
 
Research and development  $69,457   $136,736   $43,605   $43,605 
General and administrative   671,078    1,634,214    251,751    677,595 
   $740,535   $1,770,950   $295,356   $721,200 

 

Schedule of fair value of employee stock options
   Six Months
June 30,
2021
 
Weighted average exercise price  $14.17 
Weighted average grant date fair value  $11.97 
Assumptions     
Expected volatility   89%-97 %
Weighted average expected term (in years)   6.0-10.0   
Risk-free interest rate   1.03%-1.09 %
Expected dividend yield   0.00%

 

Schedule of stock option activity
   Number of
Shares
   Weighted-
Average
Exercise
Prices
   Weighted-
Average
Remaining
Contractual
Term (In Years)
   Intrinsic
Value
 
Outstanding at January 1, 2021   2,610,495   $5.63    8.60   $22,789,233 
Granted   15,000    14.17    
    
 
Exercised   (252,156)   2.74    
    
 
Outstanding at June 30, 2021   2,373,339   $5.99    8.20   $10,693,880 
Exercisable at June 30, 2021   801,762   $3.66    7.77   $4,768,540