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Income Taxes (Tables)

12 Months Ended

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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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.

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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.

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