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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Stock-Based Compensation

Schedule of stock-based compensation expense

Stock-based compensation expense in the statements of operations, including the fair value of stock awards to consultants and advisors for services rendered, for the years ended December 31, 2023 and 2022 was as follows:

​	​	​	​	​	​	​
​	​	Year Ended
​	​	December 31,
​		2023			2022
General and administrative	​	$	2,414,867	​	$	5,778,117
Research and development	​		2,213,539	​	​	3,374,403
​	​	$	4,628,406	​	$	9,152,520

Schedule of stock option activity

Stock option activity for the years ended December 31, 2023, and 2022, was as follows:

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​	​		Weighted	​	​	​
​	​	​	​	​	​	​	Average	​	​	​
​	​	​	​	​	​	​	Remaining	​	​	​
​	​	​	​	Weighted		​	Contractual	​	Aggregate
​	​	Number of	​	Average		​	Term	​	Intrinsic
​	​	Shares	​	Exercise Price		​	(Years)		Value
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	​	​	​	​	​
Granted	​	367,329	​	$	8.57	​	​	​	​	​
Exercised	​	(59,897)	​	$	0.14	​	​	​	​	​
Forfeited	​	(10,000)	​	$	4.39	​	​	​	​	​
Outstanding at December 31, 2023		1,954,774	​	$	13.41	​	6.10	​	$	17,862,936
Exercisable at December 31, 2023	​	1,600,577	​	$	14.30	​	5.39	​	$	14,532,422

​

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

​

​	​	​	​	​	​
​		Year Ended		Year Ended
​	​	December 31, 2023		December 31, 2022
Risk-free interest rate		4.17	%	2.24	%
Expected life		5.5	​	5.9	​
Expected volatility		120	%	112	%
Expected dividend yield		—	​	—	​

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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