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Condensed Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (21,612,455) $ (11,938,417)
Adjustments to reconcile net loss to net cash used for operations:    
Depreciation 29,557 43,938
Stock-based compensation 1,331,346 1,273,282
Amortization of debt issuance costs and discount 65,309 57,004
PIK interest 465,510 438,184
Non-cash operating lease, net 1,197 438
Change in accrued interest income (153,845) (1,697,811)
Changes in operating assets and liabilities:    
Other current assets 268,849 (15,809)
Accounts payable 237,992 (8,545)
Accrued expenses 2,298,379 (1,020,102)
Net cash used for operating activities (17,068,161) (12,867,838)
Cash flows from investing activities:    
Purchases of investments (121,435,343) (3,125,462)
Proceeds from maturities of investments 125,061,320 25,000,000
Purchases of property and equipment (89,676) (6,987)
Net cash provided by investing activities 3,536,301 21,867,551
Cash flows from financing activities:    
Proceeds from exercise of common stock warrants 14,009,151
Proceeds from exercise of employee stock options 131,090 127,922
Payments for secondary registration statement costs (56,414) (55,789)
Payments for debt issuance costs (2,716)
Payments for finance leases (1,469)
Net cash provided by financing activities 14,083,827 67,948
Net change in cash and cash equivalents 551,967 9,067,661
Cash and cash equivalents:    
Beginning of period 30,662,774 24,571,557
End of period 31,214,741 33,639,218
Supplemental disclosure of cash flow information:    
Interest paid 869,893 746,824
Supplemental disclosures of non-cash investing and financing activities:    
Offering and registration statement costs included in accounts payable 13,325 2,402
Property and equipment included in accounts payable 18,702
Property and equipment included in accrued expenses 12,036
Exercise of stock options pending receipt of cash proceeds $ 108,210