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Investments (Tables)
3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-Sale Investments by Security type
Available-for-sale
investments by security type were as follows:
 
   
Estimated
Fair Value
   
Gross
Unrealized
Gains
   
Gross
Unrealized
Losses
   
Amortized
Cost
 
At March 31, 2020:
        
U.S. Treasuries – Cash equivalents
  $69,997,200   $83,751  $—     $69,913,449 
  
 
 
   
 
 
   
 
 
   
 
 
 
At December 31, 2019:
        
U.S. Treasuries – Cash equivalents
  $59,932,200   $2,042   $—     $59,930,158 
U.S. Treasuries – ST
   5,007,050    7,463    —      4,999,587 
  
 
 
   
 
 
   
 
 
   
 
 
 
Total
  $64,939,250   $9,505   $—     $64,929,745 
  
 
 
   
 
 
   
 
 
   
 
 
 
Estimated Fair Values of Available for Sale Securities
The estimated fair values of
available-for-sale
securities at March 31, 2020, by contractual maturity, are summarized as follows:
 
   
March 31, 2020
 
Due in one year or less
  $69,997,200