XML 82 R30.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Federal Statutory Rate to the Net Loss and the Effective Income Tax Rate | A reconciliation of the effect of applying the federal statutory rate to the net loss and the effective income tax rate are as follows:
| 2023 |  | 2022
Statutory federal income tax rate | 21.0 | % |  | 21.0 | %
State tax, net of federal benefit | (3.2) | % |  | 6.1 | %
Permanent differences | (0.9) | % |  | (0.9) | %
Federal research and development credits | 4.1 | % |  | 2.3 | %
State research and development credits | — | % |  | 0.2 | %
Uncertain tax positions | (0.4) | % |  | (0.3) | %
Other differences | 0.1 | % |  | 0.9 | %
Change in valuation allowance | (20.7) | % |  | (29.3) | %
Effective income tax rate | — | % |  | — | %
Schedule of Net Deferred Tax Assets | As of December 31, 2023 and 2022, the components and tax effects of each type of item that gave rise to the net deferred tax assets were as follows:
| 2023 |  | 2022
Deferred tax assets: |  |  |
Stock-based compensation expense | $ | 1,387,849 |  |  | $ | 1,059,866 |
Research expenses | 16,282,709 |  |  | 6,758,291 |
Unrealized losses | 172 |  |  | 10,419 |
Accrued Bonus | 602,121 |  |  | — |
R&D credit carryforward | 6,295,756 |  |  | 4,146,850 |
NOL carryforward | 19,095,948 |  |  | 20,842,910 |
Gross deferred tax assets | 43,664,555 |  |  | 32,818,336 |
Valuation allowance | (43,274,909) |  |  | (32,039,948) |
Net deferred tax assets | 389,646 |  |  | 778,388 |
Net deferred tax liabilities: |  |  |
Prepaid expenses deducted for tax | (173,497) |  |  | (353,224) |
Right of use | (103,034) |  |  | (117,445) |
Tax depreciation in excess of book | (113,115) |  |  | (307,719) |
Total deferred tax liabilities | (389,646) |  |  | (778,388) |
Net deferred taxes | $ | — |  |  | $ | — |
Schedule of Unrecognized Tax Benefits | As of December 31, 2023 and December 31, 2022, unrecognized tax benefits were as follows:
| 2023 |  | 2022
Beginning balance | $ | 541,067 |  |  | $ | 380,902 |
Increase due to current year tax position | 158,460 |  |  | 160,165 |
Ending balance | $ | 699,527 |  |  | $ | 541,067 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration