Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2019 |
Income Tax Disclosure [Abstract] |
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Schedule of Deferred Tax Assets |
Significant components of the Company’s deferred tax assets at December 31, 2019 and 2018 are shown below. | | | | | | | | | | December 31, | | 2019 | | 2018 | Deferred tax assets: | | | | Net operating loss carryforwards | $ | 41,780,806 |
| | $ | 35,104,728 |
| Research and development credits | 5,007,178 |
| | 4,577,582 |
| Other | 1,406,893 |
| | 1,725,577 |
| Total | 48,194,877 |
| | 41,407,887 |
| Less: valuation allowance | (48,194,877 | ) | | (41,407,887 | ) | Deferred tax assets, net of valuation allowance | $ | — |
| | $ | — |
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Schedule of Provision for Domestic and Foreign Income Taxes |
The provision for domestic and foreign income taxes is as follows: | | | | | | | | | | Years Ended December 31, | | 2019 | | 2018 | Current: | | | | Foreign | $ | 19,492 |
| | $ | 13,955 |
| State and local | 1,556 |
| | 1,556 |
| Income tax provision | $ | 21,048 |
| | $ | 15,511 |
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Schedule of Domestic and Foreign Components of Income (Loss) |
The domestic and foreign components of income (loss) from continuing operations are as follows: | | | | | | | | | | Years Ended December 31, | | 2019 | | 2018 | Domestic | $ | (29,851,428 | ) | | $ | (18,515,638 | ) | Foreign | 57,406 |
| | 34,757 |
| Loss before provision for income taxes | $ | (29,794,022 | ) | | $ | (18,480,881 | ) |
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Schedule of Effective Income Tax Rate Reconciliation |
A reconciliation of the income tax computed at the federal statutory tax rate to the expense for income taxes are as follows: | | | | | | | | | | December 31, | | 2019 | | 2018 | Income taxes at statutory rate | $ | (6,256,953 | ) | | $ | (3,880,985 | ) | State income taxes, net of federal benefits | (529,351 | ) | | (476,179 | ) | Change in valuation allowance | 6,786,990 |
| | 5,617,471 |
| Other permanent differences | 449,958 |
| | 95,852 |
| Research credits | (429,596 | ) | | (502,511 | ) | Change in fair value of warrants | — |
| | (838,137 | ) | Income tax expense | $ | 21,048 |
| | $ | 15,511 |
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Schedule of Unrecognized Tax Benefits |
A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, are as follows: | | | | | | | | | | December 31, | | 2019 | | 2018 | Balance at beginning of the year | $ | 3,389,136 |
| | $ | 3,018,563 |
| Increase related to current year positions | 319,026 |
| | 370,573 |
| Balance at the end of the year | $ | 3,708,162 |
| | $ | 3,389,136 |
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