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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Options Activity | The following table summarizes the activity for all stock options outstanding for the years ended December 31: Schedule of Stock Options Activity
|  | 2024 |  |  | 2023 |
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Shares |  |  | Weighted Average Exercise Price |
Options outstanding at beginning of year |  |  | 2,815,392 |  |  | $ | 7.95 |  |  |  | 1,976,586 |  |  | $ | 6.34 |
Granted |  |  | 1,716,729 |  |  |  | 16.14 |  |  |  | 1,003,298 |  |  |  | 10.69 |
Exercised |  |  | (103,245 | ) |  |  | 7.45 |  |  |  | (98,695 | ) |  |  | 3.94 |
Forfeited |  |  | (121,899 | ) |  |  | 11.57 |  |  |  | (65,797 | ) |  |  | 7.45 |
Balance at December 31: |  |  | 4,306,977 |  |  | $ | 11.13 |  |  |  | 2,815,392 |  |  | $ | 7.95 |
Options exercisable at December 31: |  |  | 2,011,474 |  |  | $ | 7.35 |  |  |  | 1,524,731 |  |  | $ | 6.44 |
Weighted Average Grant Date Fair Value for options granted during the year: |  |  |  |  |  | $ | 11.22 |  |  |  |  |  |  | $ | 7.48 |
Schedule of Stock Options Outstanding and Exercisable | The following table summarizes additional information about stock options outstanding and exercisable at December 31, 2024: Schedule of Stock Options Outstanding and Exercisable
Options Outstanding |  |  | Options Exercisable |
Options Outstanding |  |  | Weighted Average Remaining Contractual Life |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value |  |  | Options Exercisable |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value |
| 4,306,977 |  |  |  | 7.96 |  |  | $ | 11.13 |  |  | $ | 13,914,458 |  |  |  | 2,011,474 |  |  | $ | 7.35 |  |  | $ | 11,781,660 |
Schedule of Assumptions for Fair Value of Equity-based Awards | The Black-Scholes option-pricing model was used to estimate the fair value of equity-based awards and the Monte Carlo simulation model was used to estimate the fair value of the performance-based awards, with the following weighted-average assumptions for the years ended December 31: Schedule of Assumptions for Fair Value of Equity-based Awards
|  | 2024 |  |  | 2023 |
Risk-free interest rate |  |  | 3.48% - 4.71% |  |  |  | 3.41% - 4.86% |
Expected volatility |  |  | 71.2% - 76.20% |  |  |  | 77.1% - 79.8% |
Expected life (years) |  |  | 5.25 to 10.00 |  |  |  | 5.25 to 6.08 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Schedule of Unrecognized Compensation Cost | Total unrecognized compensation cost related to stock options and restricted stock is estimated to be recognized at December 31: Schedule of Unrecognized Compensation Cost
2025 |  | $ | 7,776,307 |
2026 |  |  | 6,307,024 |
2027 |  |  | 5,165,880 |
2028 |  |  | 1,964,136 |
Total estimated compensation cost to be recognized |  | $ | 21,213,347 |
Schedule of Stock-based Compensation Expenses | The Company recognized total stock-based compensation expense as follows for the years ended December 31: Schedule of Stock-based Compensation Expenses
|  | Years Ended |
|  | December 31: |
|  | 2024 |  |  | 2023 |
Stock-based compensation expense in operating expenses: |  |  |  |  |  |  |  |
Research and development |  | $ | 4,404,518 |  |  | $ | 2,700,318 |
General and administrative |  |  | 2,583,823 |  |  |  | 2,201,116 |
Total |  | $ | 6,988,341 |  |  | $ | 4,901,434 |
Stock-based compensation expense |  | $ | 6,988,341 |  |  | $ | 4,901,434 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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