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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Taxes [Abstract] |
Schedule of Loss Before Income Tax | The components of loss before income taxes are as follows:
|  | For the Years Ended December 31,
|  | 2023 |  | 2022
U.S. |  | $ | (37,106,599 | ) |  | $ | (13,419,830 | )
Foreign |  |  | (315,688 | ) |  |  | — |
Total loss before income taxes |  | $ | (37,422,287 | ) |  | $ | (13,419,830 | )
Schedule of Deferred Tax Assets and Liabilities | The tax effects of the temporary differences and carryforwards that give rise to deferred tax assets and liabilities consist of the following:
|  | As of December 31,
|  | 2023 |  | 2022
Deferred tax assets: |  |  |  |  |  |  |  |
Net-operating loss carryforward |  | $ | 10,214,760 |  |  | $ | 2,986,738 |
Intangibles |  |  | 3,349,919 |  |  |  | 885,176 |
Capitalized research and development |  |  | 1,171,320 |  |  |  | — |
Stock-based compensation |  |  | 690,760 |  |  |  | 308,552 |
Deposit on WraSer APA |  |  | 854,896 |  |  |  | — |
Accrued compensation |  |  | 150,099 |  |  |  | 186,573 |
License agreement |  |  | 49,157 |  |  |  | 82,626 |
Other |  |  | 520,207 |  |  |  | 65,886 |
Gross deferred tax assets |  |  | 17,001,118 |  |  |  | 4,515,551 |
Valuation allowance |  |  | (15,697,701 | ) |  |  | (4,512,546 | )
Deferred tax assets, net of allowance |  | $ | 1,303,417 |  |  | $ | 3,005 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Intangible assets |  |  | (4,345,449 | ) |  |  | — |
Fixed assets |  |  | (2,560 | ) |  |  | (3,005 | )
Other |  |  | (29,189 | ) |  |  | — |
Total deferred tax liabilities |  | $ | (4,377,198 | ) |  | $ | (3,005 | )
Net deferred tax liability |  | $ | (3,073,781 | ) |  | $ | — |
Schedule of Income Taxes Differs from the Statutory Federal Rate | The provision for income taxes on earnings subject to income taxes differs from the statutory Federal rate at December 31, 2023 and 2022, due to the following:
|  | For the Years Ended December 31,
|  | 2023 |  | 2022
Expected income tax benefit at Federal statutory tax rate |  | $ | (7,858,680 | ) |  | $ | (2,818,164 | )
State and local taxes, net of Federal tax benefit |  |  | (1,192,605 | ) |  |  | (501,277 | )
Research credits |  |  | — |  |  |  | (16,477 | )
Foreign NOL expirations |  |  | 315,927 |  |  |  | — |
Stock-based compensation |  |  | 196,025 |  |  |  | — |
Subscription agreement liability |  |  | 181,440 |  |  |  | — |
Officer’s compensation |  |  | (126,337 | ) |  |  | — |
Acquisition related costs |  |  | 164,073 |  |  |  | — |
Permanent items |  |  | 55,486 |  |  |  | 194,705 |
State rate adjustment |  |  | (23,135 | ) |  |  | 19,600 |
Other |  |  | 60,599 |  |  |  | (37,260 | )
Change in valuation allowance |  |  | 8,214,614 |  |  |  | 3,158,873 |
Income tax benefit |  | $ | (12,593 | ) |  | $ | — |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
|  | For the Years Ended December 31,
|  | 2023 |  | 2022
Beginning balance |  | $ | 17,010 |  | $ | —
Increases related to prior year tax positions |  |  | — |  |  | 11,517
Increases related to current year tax positions |  |  | — |  |  | 5,493
Ending balance |  | $ | 17,010 |  | $ | 17,010

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