Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Disaggregation of Revenue

Disaggregation of Revenue. In the following tables, revenues reported for the years ended December 31, 2023 and 2022, under Topic 606, are disaggregated by type of revenue.

Type of Revenue	2023			2022
License	$	109,987		$	500,000
Minimum guaranteed royalties revenue (reversal of variable consideration)		(2,960,805	)		-
	$	(2,850,818	)	$	500,000

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

	Years Ended December 31,
	2023		2022
Research and development	$	358,352	$	338,018
General and administrative		296,086		298,122
	$	654,438	$	636,140

Schedule of Key Assumption of Fair Value of Stock Options Granted

For options granted in 2023 and 2022, the Company calculated the fair value of each option grant on the respective dates of grant using the following weighted average assumptions:

	2023			2022
Expected term		5.73 years			5.82 years
Risk-free interest rate		3.73	%		3.06	%
Expected dividend yield		—			—
Expected volatility		98.97	%		99.31	%

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

			Fair value measurements at reporting date using
	December 31, 2023		Level 1 inputs		Level 2 inputs		Level 3 inputs
Assets:
Cash equivalents - money market funds	$	4,695,491	$	4,695,491	$	-	$	-
Government treasury bills		14,281,104		14,281,104		-		-
US. Government agency securities		2,982,684		-		2,982,684		-
	$	21,959,279	$	18,976,595	$	2,982,684	$	-
Liabilities:
Warrant liability	$	17,166	$	-	$	-	$	17,166
	$	21,976,445	$	18,976,595	$	2,982,684	$	17,166

			Fair value measurements at reporting date using
	Deember 31, 2022		Level 1 inputs		Level 2 inputs		Level 3 inputs
Assets:
Cash equivalents - money market funds	$	2,694,434	$	2,694,434	$	-	$	-
Government treasury bills		5,959,000		5,959,000		-		-
Commercial paper		14,586,930		-		14,586,930		-
Corporate bonds and notes		5,454,690		-		5,454,690		-
U.S. government agency securities		3,380,790		-		3,380,790		-
	$	32,075,844	$	8,653,434	$	23,422,410	$	-
Liabilities:
Warrant liability	$	229,856	$	-	$	-	$	229,856
	$	32,305,700	$	8,653,434	$	23,422,410	$	229,856

Schedule of Computation of Basic and Diluted Earnings (Loss) Per Share of Common Stock

The following table sets forth the computation of basic and diluted earnings (loss) per share of common stock for the years ended December 31, 2023 and 2022.

	Years Ended December 31,
	2023			2022
Basic loss per share attributable to common stock:
Numerator
Net loss	$	(16,352,171	)	$	(10,758,636	)
Denominator
Weighted avg. common shares outstanding		5,269,671			5,231,681
Basic loss per share attributable to common stock	$	(3.10	)	$	(2.06	)
Diluted loss per share attributable to common stock:
Numerator
Net loss	$	(16,352,171	)	$	(10,758,636	)
Effect of dilutive securities on net loss:
Common stock warrants		212,690			565,940
Total net loss for purpose of calculating diluted net loss per common share	$	(16,564,861	)	$	(11,324,576	)
Denominator
Weighted avg. common shares outstanding		5,269,671			5,231,681
Weighted average effect of dilutive securities:
Common stock warrants		-			24,488
Total shares for purpose of calculating diluted net loss per common share		5,269,671			5,256,169
Diluted loss per share attributable to common stock	$	(3.14	)	$	(2.15	)

Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share

The computation of diluted earnings per share for the years ended December 31, 2023 and 2022 does not include the following stock options or warrants to purchase shares in the computation of diluted earnings per share because these instruments were antidilutive:

	December 31,
	2023		2022
Stock options		262,247		277,225
Warrants		49,433		49,433