Assets

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Assets

3.Assets

Prepaid expenses and other assets

Prepaid expenses and other assets consist of the following:

	September 30,		December 31
	2023		2022
Prepaid expenses	$	839,841	$	2,317,925
Other receivables		324,831		244,976
Total prepaid expenses and other assets	$	1,164,672	$	2,562,901

Other receivables primarily consists of funds receivable from government grants. The Company reviews receivables for collectability whenever events or changes in circumstances indicate the carrying amount of the asset is not recoverable. No losses on recoverability were recognized during the three and nine months ended September 30, 2023 and 2022.

Property and Equipment

Property and equipment consist of the following:

	September 30,			December 31
	2023			2022
Lab equipment	$	682,209		$	682,209
Leasehold improvements		41,578			41,578
Computer and office equipment		25,380			120,774
Computer software		3,725			3,725
Gross property and equipment	$	752,892		$	848,286
Less: accumulated depreciation		(567,498	)		(471,638	)
Net property and equipment	$	185,394		$	376,648

Depreciation expense was $34,521 and $41,949 for the three months ended September 30, 2023 and 2022, respectively. Depreciation expense was $111,759 and $122,525 for the nine months ended September 30, 2023 and 2022, respectively.