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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net loss $ (3,294,949) $ (2,214,139)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 421,071 426,939
Amortization of held-to-maturity securities, net 63,951 107,256
Foreign currency exchange loss (gain), net 28,272 10,867
Changes in operating assets and liabilities:    
Interest receivable (44,954) 102,565
Accounts receivable (131,800) 35,258
Prepaid expenses and other current assets 64,297 (10,529)
Accounts payable 480,455 (292,361)
Accrued expenses (212,088) (326,000)
Deferred research and development obligation 719,232 163,799
Net cash used in operating activities (1,906,513) (1,996,345)
Cash flows from investing activities    
Purchases of held-to-maturity investment securities (11,283,940) (11,652,385)
Proceeds from maturities of investment securities 5,500,000 13,350,000
Net cash (used in) provided by investing activities (5,783,940) 1,697,615
Cash flows from financing activities    
Proceeds from exercise of options 115,800 175,000
Net cash provided by financing activities 115,800 175,000
Effect of exchange rate changes on cash (6,834) (2,983)
Net decrease in cash and cash equivalents (7,581,487) (126,713)
Cash and cash equivalents at beginning of period 20,637,045 4,823,544
Cash and cash equivalents at end of period $ 13,055,558 $ 4,696,831