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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Stock-Based Compensation  
Schedule of stock-based compensation expense

Year Ended

December 31, 

2022

    

2021

General and administrative

$

5,778,117

$

2,680,882

Research and development

 

3,374,403

 

2,016,745

$

9,152,520

$

4,697,627

Schedule of stock option activity

    

    

    

Weighted

    

Average

Remaining

Weighted

Contractual

Aggregate

Number of

Average

Term

Intrinsic

Shares

Exercise Price

(Years)

Value

Outstanding at December 31, 2020

 

1,111,466

 

$ 2.57

  

 

  

Granted

 

538,095

 

$ 33.78

  

 

  

Exercised

 

(159,813)

 

$ 2.83

  

 

  

Forfeited

 

 

$ -

  

 

  

Outstanding at December 31, 2021

 

1,489,748

 

$ 13.82

Granted

348,294

$ 15.90

Exercised

(70,101)

$ 1.97

Forfeited

(110,599)

$ 25.93

Outstanding at December 31, 2022

 

1,657,342

 

$ 13.95

6.2

 

$ 9,907,660

Exercisable at December 31, 2022

1,310,667

$ 11.64

5.4

 

$ 9,591,460

Schedule of weighted average assumptions used to determine fair value of options

    

Year Ended

 

    

Year Ended

 

December 31, 2022

 

December 31, 2021

 

Risk-free interest rate

 

2.24

%

 

1.17

%

Expected life

 

5.9

 

5.3

Expected volatility

 

112

%

 

113

%

Expected dividend yield