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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (40,042,677) $ (32,789,548)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 6,710,160 6,553,112
Non-cash interest expense 133,411 283,444
Net amortization of premium on marketable securities (1,205,746) (14,542)
Depreciation and amortization expense 185,250 196,311
Change in operating assets and liabilities:    
Prepaid expenses and other current assets 1,010,753 2,847,103
Accounts payable (1,151,138) 113,569
Accrued expenses and other liabilities 3,188,085 (8,016,017)
Net cash used in operating activities (31,171,902) (30,826,568)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities (75,351,884) 0
Maturities of marketable securities 32,000,000 30,000,000
Net cash (used in) provided by investing activities (43,351,884) 30,000,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance costs (217,261) 0
Proceeds from exercise of stock options 0 163,941
Tax withholding payments for net share-settled equity awards 0 (532,951)
Proceeds from employee stock purchase plan 38,060 111,102
Net cash provided by financing activities (179,201) (257,908)
NET DECREASE IN CASH AND CASH EQUIVALENTS (74,702,987) (1,084,476)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 142,823,016 144,419,364
CASH AND CASH EQUIVALENTS, END OF PERIOD 68,120,029 143,334,888
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid during the period for interest 1,329,167 1,262,354
SUPPLEMENTAL INFORMATION AND DISCLOSURES OF NONCASH ACTIVITIES    
Offering costs not yet paid $ 50,000 $ 0