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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Reconciliation of Loss before Income Taxes for Domestic and Foreign Locations

A reconciliation of loss before income taxes for domestic and foreign locations for the years ended December 31, 2024 and 2023 is as follows:

		Year Ended December 31,
		2024				2023
United States		$	(11,060,506	)		$	(8,587,967	)
Foreign			16,494				19,498
Loss before income taxes		$	(11,044,012	)		$	(8,568,469	)

Reconciliation of Income Tax Expense

A reconciliation of income tax expense for the years ended December 31, 2024 and 2023 is as follows:

		Year Ended December 31,
Current:		2024				2023
Federal		$	—			$	—
State			—				—
Foreign			(5,537	)			(3,047	)
Total current income tax expense			(5,537	)			(3,047	)
Deferred:
Federal			—				—
State			—				—
Foreign			—				—
Total deferred income tax expense			—				—
Total income tax expense		$	(5,537	)		$	(3,047	)

Components of Deferred Income Taxes

The significant components of deferred income taxes at December 31, 2024 and 2023 are as follows:

		Year Ended December 31,
Deferred tax assets:		2024				2023
Net operating loss carryforwards		$	71,161,394			$	69,980,468
Research tax credits			9,173,787				10,034,233
Stock options			938,846				1,497,450
Other, net			269,439				355,204
Right-of-use liability			106,148				166,832
Research and experimentation capitalization			3,985,733				2,626,585
Total deferred tax assets			85,635,347				84,660,772
Deferred tax liabilities
Right-of-use asset			(94,000	)			(152,511	)
In-process research and development			(1,343,213	)			(1,343,213	)
Total deferred tax liabilities			(1,437,213	)			(1,495,724	)
Net deferred tax assets			84,198,134				83,165,048
Valuation allowance			(84,399,926	)			(83,366,840	)
Net deferred tax liability		$	(201,792	)		$	(201,792	)

Reconciliation of Federal Statutory Income Tax Rate to Effective Income Tax Rate

A reconciliation of the federal statutory income tax rate to the Company’s effective income tax rate is as follows:

		Year Ended December 31,
		2024				2023
Federal statutory income tax rate			21.0	%			21.0	%
State income taxes, net of federal benefit			4.8				6.3
Tax credits			(0.6	)			3.8
Change in valuation allowance			(9.4	)			(11.8	)
Expiration of attributes			(3.0	)			(12.0	)
Stock compensation			(4.0	)			(1.9	)
Uncertain tax positions			(8.9	)			(6.4	)
Other			0.1				1.0
Provision for income taxes			0.0	%			0.0	%

Summary of Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits:

		Year Ended December 31,
		2024				2023
Gross unrecognized tax benefits at January 1		$	1,589,266			$	896,981
Additions for tax positions taken in the prior year			1,079,358				—
Additions for tax positions taken in the current year			28,452				692,285
Gross unrecognized tax benefits at December 31		$	2,697,076			$	1,589,266

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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