Liquidity and Management’s Plans	6 Months Ended
Jun. 30, 2022
Liquidity and Managements Plans [Abstract]
LIQUIDITY AND MANAGEMENT’S PLANS	NOTE 2 - LIQUIDITY AND MANAGEMENT’S PLANS As of June 30, 2022, the Company had cash and cash equivalents of approximately $20,890,000 and a working capital of approximately $21,354,000. The Company has not generated revenues from commercial operations since inception and has incurred recurring operating losses. The Company expects to continue incurring losses for the foreseeable future and may need to raise additional capital to continue the pursuit of its product development. On June 10, 2022, the Company entered into an Open Market Sale Agreement with Jefferies LLC, as agent, under which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock having an aggregate offering price of up to $35.0 million in an “at-the-market” (“ATM”) offering, to or through the agent. As of June 30, 2022, no shares had been sold in the ATM offering. Between July 1, 2022 and August 5, 2022, the Company sold 72,096 shares of its common stock at average price of $5.92 per share resulting in net proceeds of approximately $414,273. The Company expects to further increase its research and development activities, which will increase the amount of cash utilized subsequent to June 30, 2022. Specifically, the Company expects increased spending on research and development activities and higher payroll expenses as it increases its professional and scientific staff and continues to prepare for anticipated manufacturing activities. If the Company encounters unforeseen delays or expenses, it has the ability to curtail its presently planned level of operations. The Company currently believes its existing cash and cash equivalents, along with the expected proceeds from its ATM offering commenced in June 2022, will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next 12 months from the date of issuance of these condensed consolidated financial statements.

Liquidity and Management’s Plans

6 Months Ended

Jun. 30, 2022

Liquidity and Managements Plans [Abstract]

NOTE 2 - LIQUIDITY AND MANAGEMENT’S PLANS

As of June 30, 2022, the Company had cash and cash equivalents of approximately $20,890,000 and a working capital of approximately $21,354,000. The Company has not generated revenues from commercial operations since inception and has incurred recurring operating losses. The Company expects to continue incurring losses for the foreseeable future and may need to raise additional capital to continue the pursuit of its product development.

On June 10, 2022, the Company entered into an Open Market Sale Agreement with Jefferies LLC, as agent, under which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock having an aggregate offering price of up to $35.0 million in an “at-the-market” (“ATM”) offering, to or through the agent. As of June 30, 2022, no shares had been sold in the ATM offering. Between July 1, 2022 and August 5, 2022, the Company sold 72,096 shares of its common stock at average price of $5.92 per share resulting in net proceeds of approximately $414,273.

The Company expects to further increase its research and development activities, which will increase the amount of cash utilized subsequent to June 30, 2022. Specifically, the Company expects increased spending on research and development activities and higher payroll expenses as it increases its professional and scientific staff and continues to prepare for anticipated manufacturing activities. If the Company encounters unforeseen delays or expenses, it has the ability to curtail its presently planned level of operations. The Company currently believes its existing cash and cash equivalents, along with the expected proceeds from its ATM offering commenced in June 2022, will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next 12 months from the date of issuance of these condensed consolidated financial statements.