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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes

Schedule of reconciliation of income tax provision (benefit)

​

​	​	​	​	​	​
​	​	Year Ended
​	​	December 31,
​		2022		2021
Federal income tax benefit at statutory rate		21.0	%	21.0	%
State and local tax, net of federal benefit		5.7	%	13.7	%
Permanent differences		(1.5)	%	0.1	%
Research and development credit	​	3.8	%	2.4	%
Stock-based compensation	​	0.8	%	15.7	%
Change in valuation allowance		(29.8)	%	(52.9)	%
Effective income tax rate		0.0	%	0.0	%

​

Schedule of significant components of deferred tax assets

​

​	​	​	​	​	​	​
​	​	As of December 31,
​		2022			2021
Net operating loss carryforwards	​	$	7,919,085	​	$	6,512,249
Stock compensation	​		3,767,330	​		1,759,129
Capitalized R&D	​	​	1,725,622	​	​	2,002,431
Section 174	​	​	3,445,935	​	​	​
R&D credit carryforwards	​		1,618,295	​		648,077
Total deferred tax assets	​		18,476,267	​		10,921,886
Less valuation allowance	​		(18,476,267)	​		(10,921,886)
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 https://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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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