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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Taxes

Reconciliation of income tax provision (benefit) computed at the statutory federal income tax rate to income taxes as reflected in the financial statements

​

​	​	​	​	​	​
​	​	Year Ended
​	​	December 31,
​		2021		2020
Federal income tax benefit at statutory rate		21.0	%	21.0	%
State and local tax, net of federal benefit		13.7	%	7.6	%
Permanent differences		0.1	%	(0.8)	%
Research and development credit	​	2.4	%	1.9	%
Stock-based compensation	​	15.7	%	—	%
Change in valuation allowance		(52.9)	%	(29.7)	%
Effective income tax rate		0.0	%	0.0	%

Schedule of significant components of deferred tax assets

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​	​	​	​	​	​	​
​	​	As of December 31,
​		2021			2020
Net operating loss carryforwards	​	$	6,512,249	​	$	2,460,773
Capitalized research and development	​	​	2,002,431	​	​	—
Stock-based compensation	​		1,759,129	​		547,628
Research and development tax credit carryforwards	​		648,077	​		241,414
Total deferred tax assets	​		10,921,886	​		3,249,815
Less valuation allowance	​		(10,921,886)	​		(3,249,815)
Net deferred taxes	​	$	—	​	$	—

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- References

No definition available.

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- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

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- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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