INVESTMENTS

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

4. INVESTMENTS

The following table summarizes the Company’s investments as of March 31, 2023:

	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Losses			Fair Value
Debt Securities:
Commercial paper	$	11,367,511	$	—	$	—		$	11,367,511
Corporate debt securities		25,603,521		—		(68,469	)		25,535,052
Total	$	36,971,032	$	—	$	(68,469	)	$	36,902,563

The following table summarizes the amortized cost and fair value of the Company’s available-for-sale marketable securities by contractual maturity as of March 31, 2023:

	Amortized Cost		Fair Value
Maturing in one year or less	$	36,971,032	$	36,902,563
Maturing after one year but less than three years		—		—
	$	36,971,032	$	36,902,563

The following table summarizes the Company’s investments as of December 31, 2022:

	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Losses			Fair Value
Debt Securities:
Commercial paper	$	12,173,980	$	—	$	—		$	12,173,980
Corporate debt securities		30,146,060		—		(125,744	)		30,020,316
Total	$	42,320,040	$	—	$	(125,744	)	$	42,194,296

The following table summarizes the amortized cost and fair value of the Company’s available-for-sale marketable securities by contractual maturity as of December 31, 2022:

	Amortized Cost		Fair Value
Maturing in one year or less	$	42,320,040	$	42,194,296
Maturing after one year but less than three years		—		—
	$	42,320,040	$	42,194,296