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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2022
Stock-Based Compensation [Abstract]  
Schedule of stock-based compensation expense
   Three Months
Ended
June 30,
2022
   Six
Months
Ended
June 30,
2022
   Three Months
Ended
June 30,
2021
   Six
Months
Ended
June 30,
2021
 
Research and development  $244,276   $450,085   $69,457   $136,736 
General and administrative   950,805    1,922,698    671,078    1,634,214 
   $1,195,081   $2,372,783   $740,535   $1,770,950 

 

Schedule of fair value of stock options
    Six
Months
June 30,
2022
 
Weighted average exercise price   $ 7.13  
Weighted average grant date fair value   $ 5.39  
Assumptions        
Expected volatility     90%-97 %
Weighted average expected term (in years)     6.3-10.0  
Risk-free interest rate     1.79%-2.54 %
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, 2022     2,893,839     $ 6.48       8.05     $ 9,932,413  
Granted     130,000       7.13              
Exercised     (2,037 )     5.00              
Cancelled     (25,249 )     7.99              
Outstanding at June 30, 2022     2,996,553     $ 6.47       7.64     $ 3,206,962  
Exercisable at June 30, 2022     1,560,081     $ 5.03       7.00     $ 2,621,336