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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Carried at Fair Value

A summary of the assets and liabilities carried at fair value in accordance with the hierarchy defined above is as follows:

 

 

 

 

 

 

 

Fair Value Hierarchy

 

December 31, 2019

 

Total

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

13,563,791

 

 

$

13,563,791

 

 

$

 

 

$

 

Marketable Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury Bonds

 

 

10,495,350

 

 

 

10,495,350

 

 

 

 

 

 

 

Total

 

$

24,059,141

 

 

$

24,059,141

 

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

7,600,284

 

 

$

7,600,284

 

 

$

 

 

$

 

Marketable Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Debt Securities

 

 

18,935,257

 

 

 

18,935,257

 

 

 

 

 

 

 

Commercial Paper

 

 

6,965,940

 

 

 

6,965,940

 

 

 

 

 

 

 

U.S. Treasury Bonds

 

 

35,061,890

 

 

 

35,061,890

 

 

 

 

 

 

 

Total

 

$

68,563,371

 

 

$

68,563,371

 

 

$

 

 

$