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Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes stock-based activities under the 2017 Stock Incentive Plan and 2019 Stock Incentive Plans:

 Schedule of Stock Option Activity

						Weighted				Weighted
		Shares				Average				Average
		Underlying				Exercise				Contractual
		Options				Price				Terms
Outstanding at December 31, 2021			903,468			$	4.27				7.9 years
Granted			980,075			$	3.38
Exercised			(240,526	)		$	0.10
Forfeited /cancelled			(14,204	)		$	5.28
Outstanding at September 30, 2022			1,628,813			$	4.34				8.5 years
Exercisable options at September 30, 2022			881,952			$	4.91				7.9 years
Vested and expected to vest at September 30, 2022			1,628,813			$	4.34				8.5 years

Schedule of Options Weighted Average Assumptions

Stock options granted during the three and nine months ended September 30, 2022 and 2021 were valued using the Black-Scholes option-pricing model with the following weighted average assumptions:

 Schedule of Options Weighted Average Assumptions

		For the three months ended								For the nine months ended
		September 30,				September 30,				September 30,				September 30,
		2022				2021*				2022				2021
Expected volatility			104.0	%			N/A				94.5% - 104.0	%			111.3	%
Risk-free interest rate			3.39	%			N/A				1.69% - 3.39	%			0.42% - 0.86	%
Expected dividend yield			0	%			N/A				0	%			0	%
Expected life of options in years			5.0				N/A				5.0 - 7.0				5.0
Estimated fair value of options granted		$	0.78				N/A			$	0.78 - $3.20			$	5.46 - $5.56

Schedule of Stock Based Compensation Expense

Total stock based compensation expense included in the accompanying condensed consolidated statements of operations was as follows:

 Schedule of Stock Based Compensation Expense

		September 30, 2022				September 30, 2021				September 30, 2022				September 30, 2021
		For the three months ended								For the nine months ended
		September 30, 2022				September 30, 2021				September 30, 2022				September 30, 2021
Research and development		$	87,829			$	66			$	253,561			$	516,328
General and administrative			152,933				4,369				345,133				716,199
Total stock based compensation		$	240,762			$	4,435			$	598,694			$	1,232,527

Schedule of Warrants

 Schedule of Warrants

Initial

Exercise

Warrants

Warrants

Warrants

Issuance Date

Exercise Date

Expiration Date

Price

Issued

Exercised

Outstanding

January 14, 2022

July 10, 2022

January 11, 2027

$

5.00

187,500

0

187,500

X

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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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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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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