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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Taxes

Schedule of federal statutory rate to the net loss and the effective income tax rate

​

​	​	​	​	​	​
​		2021		2020
Statutory federal income tax rate		21.0	%	21.0	%
State tax, net of federal benefit		5.5	%	6.3	%
Permanent differences		(0.6)	%	(1.5)	%
Federal research and development credits		5.6	%	4.5	%
State research and development credits		0.4	%	0.6	%
Uncertain tax positions	​	(0.6)	%	(1.0)	%
Other differences		0.7	%	(2.6)	%
Change in valuation allowance		(31.1)	%	(27.3)	%
Effective income tax rate		0.9	%	0.0	%

Schedule of net deferred tax assets

​

​	​	​	​	​	​	​
​		2021			2020
Deferred tax assets:		​			​
Stock-based compensation expense	​	$	373,602	​	$	73,984
Unrealized losses	​	​	12,990	​	​	—
R&D credit carryforward	​		3,346,097	​		1,574,596
NOL carryforward	​		14,699,524	​		5,525,123
Gross deferred tax assets	​		18,432,213	​		7,173,703
Valuation allowance	​	​	(17,677,899)	​		(7,127,448)
Net deferred tax assets	​		754,314	​		46,255
Net deferred tax liabilities:	​			​
Prepaid expenses deducted for tax	​		(425,755)	​		(28,671)
Tax depreciation in excess of book	​		(328,559)	​		(17,584)
Total deferred tax liabilities	​		(754,314)	​		(46,255)
Net deferred taxes	​	$	—	​	$	—

Schedule of unrecognized tax benefits

​

​	​	​	​	​	​	​
​	​	2021		​	2020
Beginning balance	​	$	174,950	​	$	96,952
Increase due to current year tax position	​	​	205,952	​	​	77,998
Ending balance	​	$	380,902	​	$	174,950

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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