Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Provision for Federal, Foreign and State Income Taxes

The provision for federal, foreign and state income taxes for the years ended December 31, 2022 and 2021 are as follows:

	Year Ended December 31,
	2022		2021
Current income tax provision (benefit)
Federal	$	—	$	—
Foreign		—		—
State		—		—
Deferred income tax provision (benefit)
Federal		—		(638,400	)
Foreign		—		—
State		—		(1,164,956	)
Total income tax provision (benefit)	$	—	$	(1,803,356	)

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets (liabilities) as of December 31, 2022 and 2021 consist of the following:

	Year Ended December 31,
	2022			2021
Deferred tax assets:
Net operating loss carryforwards	$	26,695,408		$	19,129,605
Research and development tax credits		145,115			145,115
Capitalized research and development costs		29,527,069			30,884,326
Stock-based compensation		10,038,836			8,947,268
Deferred start-up and license costs		3,559,272			4,122,178
Sale of royalties		20,144,095			18,120,624
Other		—			1,372
Total deferred tax assets		90,109,795			81,350,488
Deferred tax asset valuation allowance		(90,108,904	)		(81,350,488	)
Net deferred tax assets		891			—
Deferred tax liabilities:
In-process research and development		—			—
Depreciation		(891	)		—
Total deferred tax liabilities		(891	)		—
Total	$	—		$	—

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation between the Company’s effective tax rate and the federal statutory rate for the years ended December 31, 2022 and 2021 are as follows:

	Year Ended December 31,
	2022			2021
Federal statutory rate		21.00	%		21.00	%
Permanent differences		(0.08	%)		(0.30	%)
State income taxes, net of federal benefit		0.00	%		0.00	%
Valuation allowance		(20.92	%)		(17.22	%)
Effective tax rate		0.00	%		3.49	%