0001558370-22-003208 | 10-K | XBRL Viewer

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 74,888,145	$ 37,090,151
Marketable securities, current	74,311,203
Accounts receivable	246,040	500,110
Prepaids and other current assets	2,888,608	140,958
Total current assets	152,333,996	37,731,219
Marketable securities, non-current	996,560
Property and equipment, net	807,223	64,363
Goodwill	6,701,726
Intangible asset	439,000
Right-of-use assets, net	5,324,198	613,103
Other assets	102,129	14,333
Total assets	166,704,832	38,423,018
Current liabilities:
Accounts payable	1,394,340	1,480,537
Accrued expenses	3,965,447	698,992
Lease liabilities, current	274,039	76,322
Total current liabilities	5,633,826	2,255,851
Long-term liabilities:
Lease liabilities, non-current	5,090,897	544,767
Total liabilities	10,724,723	2,800,618
Commitments and contingencies (Note 13)
Convertible preferred stock:
Convertible preferred stock		58,103,850
Stockholders' deficit:
Preferred stock, $0.001 par value; 10,000,000 and 0 shares authorized at December 31, 2021 and December 31, 2020, respectively; No shares issued or outstanding
Additional paid-in capital	215,276,186	3,251,240
Accumulated other comprehensive loss	(49,009)
Accumulated deficit	(59,273,388)	(25,737,640)
Total stockholders' equity (deficit)	155,980,109	(22,481,450)
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	166,704,832	38,423,018
Series B Preferred Stock
Convertible preferred stock:
Convertible preferred stock		36,983,910
Series A Preferred Stock
Convertible preferred stock:
Convertible preferred stock		21,119,940
Class A Common Stock
Stockholders' deficit:
Common stock	26,320	4,950
Class B Common Stock
Stockholders' deficit:
Common stock

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Preferred stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Preferred stock authorized (in shares)	10,000,000	0
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series B Preferred Stock
Convertible preferred stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Convertible preferred stock, authorized (in shares)	0	6,032,183
Convertible preferred stock, issued (in shares)	0	3,619,292
Convertible preferred stock, outstanding (in shares)	0	3,619,292
Series A Preferred Stock
Convertible preferred stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Convertible preferred stock, authorized (in shares)	0	2,495,933
Convertible preferred stock, issued (in shares)	0	2,495,933
Convertible preferred stock, outstanding (in shares)	0	2,495,933
Class A Common Stock
Common stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	200,000,000	22,026,200
Common stock, shares issued (in shares)	26,320,199	4,950,129
Common stock, shares outstanding (in shares)	26,320,199	4,950,129
Class B Common Stock
Common stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	20,000,000	6,032,183
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
Revenue	$ 2,079,961	$ 2,311,535
Cost of revenue	1,153,073	1,280,325
Gross profit	926,888	1,031,210
Operating expenses
Research and development	26,540,959	15,003,786
General and administrative	8,271,998	3,109,978
Total operating expenses	34,812,957	18,113,764
Loss from operations	(33,886,069)	(17,082,554)
Other income (expense)
Interest income	169,899	42,656
Other expense	(127,063)
Loss before income taxes	(33,843,233)	(17,039,898)
Income tax benefit	307,485
Net loss	$ (33,535,748)	$ (17,039,898)
Net loss per share attributable to common stockholders, basic	$ (2.46)	$ (3.44)
Net loss per share attributable to common stockholders, diluted	$ (2.46)	$ (3.44)
Weighted-average common shares outstanding, basic	13,612,677	4,950,129
Weighted-average common shares outstanding, diluted	13,612,677	4,950,129
Other comprehensive loss:
Unrealized losses from marketable securities	$ (49,009)
Comprehensive Loss	$ (33,584,757)	$ (17,039,898)

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Preferred Stock Series A Preferred Stock	Preferred Stock Series B Preferred Stock	Preferred Stock	Common Stock Class A Common Stock	Additional Paid-In Capital	Accumulated other comprehensive loss	Accumulated Deficit	Series A Preferred Stock	Series B Preferred Stock	Total
Beginning Balance (in shares) at Dec. 31, 2019				4,950,129
Beginning Balance at Dec. 31, 2019				$ 4,950	$ 2,164,471		$ (8,697,742)			$ (6,528,321)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense					1,086,769					1,086,769
Net loss							(17,039,898)			(17,039,898)
Ending Balance at Dec. 31, 2020				$ 4,950	3,251,240		(25,737,640)			(22,481,450)
Ending Balance (in shares) at Dec. 31, 2020				4,950,129
Beginning Balance at Dec. 31, 2019	$ 16,611,832		$ 16,611,832
Beginning Balance (in shares) at Dec. 31, 2019	1,966,043							1,966,043
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of convertible preferred stock, net of issuance costs	$ 4,508,108	$ 36,983,910	$ 36,983,910
Issuance of convertible preferred stock, net of issuance costs (in shares)	529,890	3,619,292	4,508,108
Ending Balance at Dec. 31, 2020	$ 21,119,940	$ 36,983,910	$ 58,103,850					$ 21,119,940	$ 36,983,910	58,103,850
Ending Balance (in shares) at Dec. 31, 2020	2,495,933	3,619,292						2,495,933	3,619,292
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options				$ 118	354,316					$ 354,434
Issuance of common stock upon exercise of stock options (in shares)				117,846						117,847
Issuance of common stock upon exercise of warrants				$ 308	926,817					$ 927,125
Issuance of common stock upon exercise of warrants (in shares)				308,308
Conversion of Preferred Stock into common stock	$ (21,119,940)	$ (61,772,761)	(82,892,701)	$ 11,939	82,880,762					82,892,701
Conversion of Preferred Stock into common stock (in shares)	(2,495,933)	(6,032,145)		11,939,281
Issuance of common stock upon initial public offering, net of issuance costs				$ 8,625	118,185,808					118,194,433
Issuance of common stock upon initial public offering, net of issuance costs (in shares)				8,625,000
Issuance of common stock for acquisition				$ 380	7,874,620					7,875,000
Issuance of common stock for acquisition, shares				379,635
Stock-based compensation expense					1,802,623					1,802,623
Net loss							(33,535,748)			(33,535,748)
Other comprehensive loss						$ (49,009)				(49,009)
Ending Balance at Dec. 31, 2021				$ 26,320	$ 215,276,186	$ (49,009)	$ (59,273,388)			$ 155,980,109
Ending Balance (in shares) at Dec. 31, 2021				26,320,199
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of convertible preferred stock, net of issuance costs		$ 24,788,851	$ 24,788,851
Issuance of convertible preferred stock, net of issuance costs (in shares)		2,412,853
Ending Balance (in shares) at Dec. 31, 2021								0	0

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (Parentheticals) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT)
Issuance costs	$ 2,124,317

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)		1 Months Ended	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2019	Jan. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss			$ (33,535,748)	$ (17,039,898)
Adjustment to reconcile to net loss to net cash used in operating activities:
Depreciation expense			45,467	24,328
Right-of-use asset amortization			113,605	54,977
Stock based compensation expense			1,802,623	1,086,769
Net amortization of premium (accretion of discount) on marketable securities			130,240
Deferred tax benefit			(307,485)
(Increase) decrease in:
Accounts receivable			279,713	(290,170)
Prepaid expenses and other current assets			(2,408,986)	(69,740)
Other assets				(14,333)
Increase (decrease) in:
Accounts payable			(130,398)	1,185,589
Accrued expenses			3,240,940	488,644
Lease liability			(80,853)	(46,991)
Net cash used in operating activities			(30,850,882)	(14,620,825)
Cash flows from investing activities:
Purchases of property and equipment			(60,786)	(53,415)
Purchases of marketable securities			(75,625,529)
Cash acquired in business combination			70,348
Net cash used in investing activities			(75,615,967)	(53,415)
Cash flows from financing activities:
Proceeds from initial public offering of common stock, net of commissions and underwriting			120,318,750
Payment of initial public offering costs			(2,124,317)
Proceeds from exercise of stock options			354,434
Proceeds from exercise of warrants			927,125
Net cash provided by financing activities			144,264,843	37,982,216
Net increase in cash and cash equivalents			37,797,994	23,307,976
Cash and cash equivalents at beginning of period		$ 13,782,175	37,090,151	13,782,175
Cash and cash equivalents at end of period	$ 13,782,175		74,888,145	37,090,151	$ 13,782,175
Supplemental disclosures of noncash investing and financing information :
Conversion of convertible Series A and B preferred stock into common stock			82,892,701
Business combination non cash			$ 7,804,652
Class A common stock issued for business combination			7,875,000
Reclassification of liability for Series A preferred stock				3,509,802
Series A Preferred Stock
Cash flows from financing activities:
Proceeds from the issuance of preferred stock, net of issuance costs	$ 4,004,975	1,021,413		998,306
Payment of initial public offering costs		$ (23,610)			$ (200,587)
Series B Preferred Stock
Cash flows from financing activities:
Proceeds from the issuance of preferred stock, net of issuance costs			$ 24,788,851	$ 36,983,910

Organization and Nature of Business

12 Months Ended

Dec. 31, 2021

Organization and Nature of Business

Organization and Nature of Business

Note 1 – Organization and Nature of Business

Immuneering Corporation, a Delaware corporation, (“Immuneering” or the “Company”) was incorporated in 2008. The Company aims to improve patient outcomes by advancing a unique pipeline of oncology and neuroscience product candidates developed using the Company’s translational bioinformatics platform. The Company has more than a decade of experience applying translational bioinformatics to generate insights into drug mechanism of action and patient treatment response. Building on this experience, the Company’s disease-agnostic discovery platform enables the Company to create product candidates based on 1) biological insights that are both counterintuitive and deeply rooted in data, and 2) novel chemistry.

On October 30, 2019, Immuneering formed a wholly owned subsidiary, Immuneering Securities Corporation (“ISC”), a Massachusetts securities corporation, for the sole purpose of buying, selling and holding securities on the Company’s behalf.

On December 22, 2021, the Company acquired all outstanding shares of capital stock of BioArkive, Inc. (“BioArkive”), a California corporation, which as a result became a wholly owned subsidiary.

Immuneering, ISC and BioArkive are collectively referred to as “the Company” throughout these consolidated financial statements.

The Company is subject to a number of inherent risks associated with any biotechnology company that has substantial expenditures for research and development. These risks include, but are not limited to, the need to obtain adequate additional funding, possible failure of clinical trials or other events demonstrating lack of clinical safety or efficacy of its product candidates, dependence on key personnel, reliance on third-party service providers for manufacturing drug product and conducting clinical trials, the ability to successfully secure its proprietary technology, and risks related to the regulatory approval and commercialization of a product candidate. There can be no assurance that the Company’s research and development program will be successful. In addition, the Company operates in an environment of rapid technological change and is largely dependent on the services of its employees, advisors, and consultants.

On August 3, 2021, the Company completed its initial public offering (“IPO”) pursuant to which it issued and sold 8,625,000 shares of its Class A common stock, inclusive of 1,125,000 shares of its Class A common stock sold pursuant to the full exercise of the underwriters’ option to purchase additional shares. The aggregate net proceeds received by the Company from the IPO were $120,318,750, after deducting underwriting discounts and commissions, but before deducting offering costs payable by the Company, which were $2,124,317. Upon the closing of the IPO, all 8,528,078 shares of the Company’s convertible preferred stock then outstanding automatically converted into 11,939,281 shares of Class A common stock. Upon the conversion of the convertible preferred stock, the Company reclassified the carrying value of the convertible preferred stock to common stock (at par value) and additional paid-in capital (see Note 8).

To date, the Company has funded its operations through service revenues, and with proceeds from the sale of its capital stock and convertible notes and, most recently, with proceeds from the IPO. The Company has incurred recurring losses over the past several years and as of December 31, 2021, the Company had an accumulated deficit of $59,273,388. The Company expects to continue to generate operating losses for the foreseeable future. The future viability of the Company is dependent on its ability to raise additional capital to finance its operations. The Company’s inability to raise capital as and when needed could have a negative impact on its financial condition and ability to pursue its business strategies. There can be no assurances that additional funding will be available on terms acceptable to the Company, or at all. If the Company is unable to raise additional funds when needed, it may be required to delay, reduce the scope of, or eliminate development programs, which may adversely affect its business and operations. Management considers that there are no conditions or events, in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern and estimates that its cash and cash equivalents will be sufficient to fund its operating expenses and capital expenditure requirements for at least 12 months from the issuance date of the consolidated financial statements. The full extent to which coronavirus (“COVID-19”) pandemic will directly or indirectly impact the Company’s business, results of operations and financial

condition, including expenses and research and development costs, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and its variants and the actions taken to contain or treat COVID-19 and its variants, as well as the economic impact on local, regional, national and international markets. The Company has considered potential impacts arising from the pandemic related to COVID-19 and its variants and is not presently aware of any events or circumstances that would require the Company to update its estimates, judgements or revise the carrying values of its assets or liabilities.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Note 2 - Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements have been prepared in accordance with accounting standards set by the Financial Accounting Standards Board (“FASB”). The FASB sets generally accepted accounting principles (“GAAP”) to ensure the consolidated financial statements are consistently reported. References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codifications (“ASC”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Stock Split

On July 23, 2021, the Company approved a one-for-1.4 stock split which was consummated in connection with the Company’s IPO. All information in the accompanying financial statements and notes thereto regarding share amounts of common stock, price per share of common stock and the conversion factor for Series A and Series B Preferred Stock into common stock have been adjusted to reflect the application of the stock split on a retroactive basis.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses during the reporting periods. These estimates and assumptions are based on current facts, historical experience and various other factors believe to be reasonable under the circumstances, the results of which form the basis for making judgements about the carrying values of assets, liabilities and the recording of expenses that are not readily apparent from other sources. Significant estimates reflected in these consolidated financial statements included but are not limited to, the research and development expenses, determination of fair value of stock-based awards, the valuation of common stock prior to the IPO, business combination, and the right-to-use assets and operating lease liability. Actual results may differ materially and adversely from these estimates.

Segments

Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker (“CODM”) in making decisions regarding resource allocation and assessing performance. The Company’s chief executive officer is the CODM, and he uses consolidated financial information in determining how to allocate resources and assess performance. The Company has determined that it operates in one segment.

Business Combination

Results of operations of acquired companies are included in the Company’s results of operations as of the respective acquisition dates. Acquired businesses are accounted for using the acquisition method of accounting, which requires that assets acquired and liabilities assumed be recorded at fair value, with limited exceptions. Any excess of the purchase price over the fair value of the net assets acquired is recorded as goodwill. Transaction costs and costs to restructure the acquired Company are expensed as incurred. The operating results of the acquired business are reflected in the consolidated financial statements after the date of acquisition.

If the acquired net assets do not constitute a business under the acquisition method of accounting, the transaction is accounted for as an asset acquisition and no goodwill is recognized. Refer to Note 6, Business Combination for more information.

Cash and Cash Equivalents

Cash and cash equivalents are comprised of deposits at major financial banking institutions and highly liquid investments with an original maturity of three months or less at the date of purchase. Cash is maintained at Federal Deposit Insurance Company (“FDIC”) insured financial institutions. At times, the Company has maintained cash in excess of FDIC limits, however it has not experienced any losses with respect to its cash balances. The Company regularly monitors the financial condition of the institutions in which it has depository accounts and believes the risk of loss is minimal.

Marketable Securities

Our marketable securities are classified as available-for-sale pursuant to ASC 320, Investments – Debt and Equity Securities and are recorded at fair value. Unrealized gains/(losses) are included as a component of accumulated other comprehensive loss in the consolidated balance sheets and statements of convertible preferred stock and stockholders’ equity (deficit) and a component of total comprehensive loss in the consolidated statements of comprehensive loss, until realized. The Company assesses its available-for-sale marketable securities for impairment on a quarterly basis. There were no impairments of the Company’s available-for-sale marketable securities measured and carried at fair value during the year ended December 31, 2021. Realized gains and losses are included in other expense on a specific-identification basis. There were no realized gains or losses on marketable securities for the year ended December 31, 2021.

Fair Value Measurements

We record cash equivalents and marketable securities at fair value. ASC 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and our own assumptions (unobservable inputs). The hierarchy consists of three levels:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2 – Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, directly or indirectly, for substantially the full term of the asset or liability.

Level 3 – Unobservable inputs that reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date.

Our financial assets, which include cash equivalents and marketable securities, have been initially valued at the transaction price, and subsequently revalued at the end of each reporting period, utilizing third-party pricing services or other observable market data. The pricing services utilize industry standard valuation models, including both income and market based approaches, and observable market inputs to determine value. After completing our validation procedures, we did not adjust or override any fair value measurements provided by the pricing services as of December 31, 2021. Fair value

information for these assets, including their classification in the fair value hierarchy is included in Note 4 Fair Value Measurements.

There have been no changes to the valuation methods during the year ended December 31, 2021. We evaluate transfers between levels at the end of each reporting period.

The carrying amounts reflected in the consolidated balance sheets for cash, accounts receivable, accounts payable and accrued expenses approximate their respective fair values because of the short-term maturity of those financial instruments.

Accounts Receivable

Accounts receivable are stated at the amount management expects to collect from outstanding balances. An allowance for doubtful accounts is estimated for those accounts receivable considered to be uncollectible based upon historical experience and management’s evaluation of outstanding accounts receivable. Bad debts are written off against the allowance when identified. At December 31, 2021 and 2020 there was no allowance for doubtful accounts.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of accounts receivable and revenue. To manage accounts receivable credit risk, the Company continuously evaluates the creditworthiness of its customers and the need for an allowance for potential credit losses. The Company has not experienced any losses in such accounts.

The following customers comprised 10% or more of the Company’s total accounts receivable or revenues as of or for the period ended December 31, 2021 (customers with an asterisk are less than 10%):


	Year Ended December 31, 2021				As of December 31, 2021
	Revenue		% of Total		Accounts Receivable		% of Total
Customer #1	$	745,030	35.8	%	$	235,500	95.7%	%
Customer #2		380,000	18.3			*	*
Customer #5		353,050	17.0			*	*


	Year Ended December 31, 2020				As of December 31, 2020
	Revenue		% of Total		Accounts Receivable		% of Total
Customer #1	$	676,710	29.3	%	$	214,345	42.9	%
Customer #2		570,000	24.7			71,250	14.2
Customer #3		306,900	13.3			*	*
Customer #4		250,880	10.9			63,000	12.6
Customer #5		*	*			91,975	18.4

Property and Equipment

Property and equipment are recorded at cost, net of accumulated depreciation. Expenditures for major replacements and improvements are capitalized, while expenditures for general repairs and maintenance are expensed as incurred. Upon retirements or disposition of property and equipment, the related cost and accumulated depreciation are removed from the consolidated balance sheet and any resulting gain or loss is recorded in the consolidated statement of operations. Depreciation is calculated using the straight-line method once assets are placed in service.


		Estimated
Asset Class		Useful Lives
Computer equipment		3 years
Furniture and fixtures		5 years
Lab equipment		7 years
Leasehold improvements		1-10 years

Impairment of Long-lived Assets

Periodically, the Company evaluates its long-lived assets, which consist primarily of property and equipment, for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the asset. To date, no impairments have occurred.

Leases

In February 2016 the FASB issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) (“ASC 842”), a standard issued to increase transparency and comparability among organizations related to their leasing activities. This standard established a right-of-use model that requires the recognition of right-of-use assets and lease liabilities for most leases as well as provides disclosure with respect to certain qualitative and quantitative information related to a company’s leasing arrangements to meet the objective of allowing users of financial statements to assess the amount, timing and uncertainty of cash flows arising from leases.

The Company adopted the leasing standard using the modified retrospective transition approach as of January 1, 2020, with no restatement of prior periods or cumulative adjustment to retained earnings. Upon adoption, the Company elected the package of transition practical expedients, which allowed the Company to carry forward prior conclusions related to whether any expired or existing contracts are or contain leases, the lease classification for any expired or existing leases, and initial direct costs for existing leases. The Company also made an accounting policy election to not recognize leases with an initial term of 12 months or less within its consolidated balance sheets, and to recognize those lease payments on a straight-line basis in its consolidated statements of operations over the lease term. The adoption of the leasing standard did not have an impact on the consolidated statement of operations.

The Company determines if an arrangement is a lease at contract inception. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Right-of-use assets and lease liabilities are recognized at the commencement date of the lease based upon the present value of future lease payments over the expected lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. As most of the Company’s leases do not provide an implicit interest rate, the Company uses its incremental borrowing rate, which is based on rates that would be incurred to borrow on a collateralized basis over a term equal to the lease payments in a similar economic environment, in determining the present value of lease payments.

The Company has elected not to separate lease and non-lease components as a single lease component. The Company’s lease are reflected in right-of-use assets and lease liabilities (current and non-current) in the consolidated balance sheets.

Revenue Recognition

In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods and services. The core principle of the standard is to recognize revenue to depict the transfer of promised goods or services to customers in

an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. To achieve that core principle, the Company applies the following five-step model:

• Identify the contract with a customer

• Identify the performance obligations in the contract

• Determine the transaction price

• Allocate the transaction price to the performance obligations in the contract

• Recognize revenue when or as performance obligations are satisfied

The Company’s contracts generally consist of the promise to provide computational biology professional services to pharmaceutical and biotechnology companies, which the Company has concluded constitutes one performance obligation that is delivered over time. The transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring the services to the customer. The Company’s contracts provide for either agreed upon rates per hour based on the level of the professional working on the project or a fixed fee for a defined scope of work. The Company recognizes revenue over time by measuring the progress toward complete satisfaction of the performance obligation using a single method of measuring progress, which depicts the performance in transferring control of the associated services to the customer. The Company uses input methods to measure the progress toward the complete satisfaction of performance obligations and evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. Any such adjustments are recorded on a cumulative catch-up basis, which would affect revenue and net loss in the period of adjustment.

The Company’s contract terms do not allow for a right of return or refund and do not contain significant financing components. Receivables associated with the contract will generally be collected within thirty to sixty days, in accordance with the underlying payment terms.

Income Taxes

The Company provides for income taxes in accordance with ASC Topic 740, Income Taxes. Deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates and laws in effect in the years in which the differences are expected to reverse. A valuation allowance is provided if, based upon the weighted available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

The Company accounts for uncertainty in income taxes recognized in the consolidated financial statements by applying a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more likely than not to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the consolidated financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. The provision for income taxes includes the effects of any resulting tax reserves (i.e., unrecognized tax benefits) that are considered appropriate as well as the related net interest. As of December 31, 2021 and 2020, the Company had uncertain tax positions of $380,902 and $174,950. The Company has classified the unrecognized tax benefits as reductions of its tax credit carryforwards.

Research and Development

Research and development costs are expensed as incurred. Research and development costs consist of expenses incurred in performing research and development activities, including salaries and benefits, materials and supplies, preclinical expenses, stock-based compensation expense, depreciation of equipment, contract services, and other outside expenses. The Company also incurs costs to develop software programs for internal use in identifying potential human drug targets which may then lead to the development of human drug candidates. To date the software programs have primarily been used for internal research and development activities and the costs incurred have been expensed as research and development.

Research and Manufacturing Contract Costs and Accruals

The Company has entered into various research, development and manufacturing contracts with research institutions and other companies in the United States. These agreements are generally cancelable, and related costs are recorded as research and development expenses as incurred. The Company records accruals for estimated ongoing research, development and manufacturing costs. When billing terms under these contracts do not coincide with the timing of when the work is performed, the Company is required to make estimates of outstanding obligations to those third parties as of period end. Any accrual estimates are based on a number of factors, including the Company’s knowledge of the progress towards completion of the research, development and manufacturing activities, invoicing to date under the contracts, communication from the research institutions and other companies of any actual costs incurred during the period that have not yet been invoiced and the costs included in the contracts. Significant judgments and estimates may be made in determining the accrued balances at the end of any reporting period. Actual results could differ from the estimates made by the Company. The historical accrual estimates made by the Company have not been materially different from the actual costs.

Patent Costs

All patent-related costs incurred in connection with filing and prosecuting patent applications are expensed as incurred due to the uncertainty about the recovery of the expenditure. Amounts incurred are classified as general and administrative expenses.

Comprehensive Loss

Comprehensive loss includes net loss as well as other changes in stockholders’ equity (deficit) that result from transactions and economic events other than those with stockholders.

Deferred Offering Costs

The Company capitalizes certain legal, professional accounting and other third-party fees that are directly associated with in-process equity financings as deferred offering costs until such financings are consummated. After consummation of an equity financing, these costs are recorded as a reduction of the proceeds from the offering, either as a reduction of the carrying value of the preferred stock or in stockholder’s equity (deficit) as a reduction of additional paid-in capital generated as a result of the offering. Should the in-process equity financing be abandoned, the deferred offering costs would be expensed immediately as a charge to operating expenses in the statements of operations and comprehensive loss. There were no deferred offering costs as of December 31,2021 or December 31, 2020.

Net Income (Loss) per Share

Prior to the closing of the IPO, the Company followed the two-class method when computing net income (loss) per share, as the Company had issued shares that meet the definition of participating securities. The two-class method determines net income (loss) per share for each class of common and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires income available to common stockholders for the period to be allocated between common and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed.

Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net income (loss) attributable to common stockholders is computed by adjusting net income (loss) attributable to common stockholders to reallocate undistributed earnings based on the potential impact of dilutive securities. Diluted net income (loss) per share attributable to common stockholders is computed by dividing the diluted net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding for the period, including potential dilutive common shares assuming the dilutive effect of common stock equivalents.

The Company’s convertible preferred stock contractually entitled the holders of such shares to participate in dividends but does not contractually require the holders of such shares to participate in losses of the Company. Accordingly, in periods in which the Company reports a net loss, such losses are not allocated to such participating securities. In periods in which the Company reports a net loss attributable to common stockholders, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.

Subsequent to the closing of its IPO, the Company only has one class of shares outstanding and basic net income (loss) per common share is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding for the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding for the period, including potential dilutive common shares assuming the dilutive effect of outstanding stock awards. For periods in which the Company reports a net loss, diluted net loss per common share is the same as basic net loss per common share, since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive. The Company reported a net loss attributable to common stockholders for each of the years ended December 31, 2021 and 2020.

Stock-based Compensation

The Company issues stock-based awards to employees and nonemployees in the form of stock options. The Company accounts for stock-based awards in accordance with ASC 718, Compensation — Stock Compensation (“ASC 718”), which requires all stock-based payments to employees and nonemployees, including grants of employee stock options and modifications to existing stock options, to be recognized in the consolidated statement of operations based on their fair values.

The fair value of options is estimated on the grant date using the Black-Scholes option-pricing model (“Black-Scholes”). Black-Scholes requires the Company to make assumptions and judgments about the variables used in the calculation including the expected term of its stock option, the volatility of the Company’s common stock, and an assumed risk-free interest rate. The Company uses the simplified calculation of expected life and volatility is based on an average of the historical volatility of a group of publicly traded companies in a similar industry that the Company believes would be considered a peer group had it been a publicly held company for the duration of the expected life of the award. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. Forfeitures are recognized as they occur. No dividend yield was assumed as the Company does not pay, and does not expect to pay, dividends on its common stock. The assumptions underlying these valuations represent management’s best estimates, which involve inherent uncertainties and the application of management’s judgement.

In accordance with ASU No. 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, compensation expense for stock-based awards granted to nonemployees is recognized over the period during which services are rendered by such nonemployees. The new standard largely aligns the accounting for share-based payment awards issued to employees and nonemployees by expanding the scope of ASC 718 to apply to nonemployee share-based transactions, as long as the transaction is not effectively a form of financing. There was no adjustment to the financial statements upon adoption of this standard as of January 1, 2020.

As there had been no public market for the Company’s common stock prior to the IPO, the estimated fair value of its common stock has been determined by its board of directors as of the date of each option grant, with input from management, considering the Company’s most recently available third-party valuations of common stock and its board of directors’ assessment of additional objective and subjective factors that it believed were relevant and which may have changed from the date of the most recent valuation through the date of the grant. These third-party valuations were performed in accordance with the guidance outlined in the American Institute of Certified Public Accountants’ Accounting and Valuation Guide, Valuation of Privately-Held-Company Equity Securities Issued as Compensation. Each valuation methodology includes estimates and assumptions that require the Company’s judgment. These estimates and assumptions include a number of objective and subjective factors, including external market conditions, the prices at which the Company sold shares of preferred stock, the superior rights and preferences of securities senior to the Company’s common stock at the time of, and the likelihood of, achieving a liquidity event, such as an initial public offering or sale.

The assumptions underlying these valuations represent management’s best estimates, which involve inherent uncertainties and the application of management’s judgment. As a result, if the Company had used different assumptions or estimates, the fair value of its common stock and its stock-based compensation expense could be materially different.

Goodwill

Goodwill represents the excess of the fair value of the acquiree over the recognized bases of the net identifiable assets acquired and includes the future economic benefits from other assets that could not be individually identified and separately recognized. Goodwill is not amortized, but instead is periodically reviewed for impairment and an impairment charge is recorded in the periods in which the recorded carrying value of goodwill exceeds its fair value.

On a quarterly basis, the Company performs a review of its business to determine if events or changes in circumstances have occurred which could have a material adverse effect on the fair value of the Company and its goodwill. If such events or changes in circumstances were deemed to have occurred, the Company would perform an impairment test of goodwill as of the end of the quarter and record any noted impairment loss.

The goodwill test is performed at least annually, or more frequently if events or changes in circumstances indicate that the asset might be impaired.

The Company performs its annual impairment test during the fourth quarter of each fiscal year. There were no impairments in 2021.

Intangible Assets

Intangible assets are recognized at fair value, as an asset apart from goodwill if the asset (i) arises from contractual or other legal rights, or (ii) is separable. Intangible assets, principally representing technology acquired, are capitalized and amortized on the straight-line method over their expected useful lives.

The Company reviews the recoverability of its long-lived assets (including amortizable intangible assets), other than goodwill, when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable.

Recently Issued Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies and adopted by the Company as of the specified effective date. The Company is an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended (“JOBS Act”). The Jobs Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company elected to avail itself of this extended transition period and, as a result, we will not be required to adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies.

In 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Statements. The new standard, as amended, requires that expected credit losses relating to financial assets measured on an amortized cost basis and available-for-sale debt securities be recorded through an allowance for credit losses. It also limits the amount of credit losses to be recognized for available-for-sale debt securities to the amount by which carrying value exceeds fair value and also requires the reversal of previously recognized credit losses if fair value increases. The targeted transition relief standard allows filers an option to irrevocably elect the fair value option of ASC 825-10, Financial Instruments-Overall, applied on an instrument-by-instrument basis for eligible instruments. ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) will become effective for the Company on January 1, 2023. The Company is currently assessing the impact of the adoption of this guidance on its consolidated financial statements.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in the existing guidance for income taxes and making other minor improvements. The amendments are effective for annual reporting periods beginning after December 15, 2020 with early adoption permitted. The adoption of this standard did not have a material impact to the financial statements.

In January 2017, the FASB issued ASU No. ASU 2017-04, Intangibles—Goodwill and Other (Topic 350), which eliminates Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value (i.e., measure the charge based on today’s Step 1). This update is effective for annual and interim impairment tests performed in periods beginning after December 15, 2022. Early adoption of the standard is permitted. The Company is currently evaluating the new guidance and assessing the potential impact on its consolidated financial statements.

Marketable Securities

12 Months Ended

Dec. 31, 2021

Marketable Securities

Marketable Securities

Note 3 – Marketable Securities

Marketable securities as of December 31, 2021 consisted of the following:


	December 31, 2021
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets:
Current:
U.S. Treasuries	$	42,147,385	$	-	$	(28,575)	$	42,118,810
Government securities		19,218,057		-		(13,689)		19,204,368
Commercial Paper		12,992,165		57		(4,197)		12,988,025
Total Current		74,357,607		57		(46,461)		74,311,203

Non-current:
U.S. Treasuries		999,186		-		(2,626)		996,560
Government securities		-		-		-		-
Total Non-current		999,186		-		(2,626)		996,560
Total marketable securities	$	75,356,793	$	57	$	(49,087)	$	75,307,763

There were no marketable securities as of December 31, 2020.

There were no impairments of the Company’s available-for-sale marketable securities measured and carried at fair value during the year ended December 31, 2021. Realized gains and losses are included in other expense on a specific-identification basis. There were no realized gains or losses on marketable securities for the year ended December 31, 2021.

Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Measurements

Fair Value Measurements

Note 4 – Fair Value Measurements

The following table summarizes our cash equivalents and marketable securities measured at fair value on a recurring basis as of December 31, 2021:


		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market	$	33,961,344	$	-	$	-	$	33,961,344
Commercial paper		-		2,000,000		-		2,000,000
Total cash equivalents		33,961,344		2,000,000		-		35,961,344

Marketable securities:
U.S. Treasuries	$	43,115,370	$	-	$	-	$	43,115,370
Government securities		-		19,204,368		-		19,204,368
Commercial paper		-		12,988,025		-		12,988,025
Total marketable securities		43,115,370		32,192,393		-		75,307,763
Total cash equivalents and marketable securities	$	77,076,714	$	34,192,393	$	-	$	111,269,107

There were no transfers between Level 1 and Level 2 and we had no financial assets or liabilities that were classified as Level 3 at any point during the year ended December 31, 2021. There were no marketable securities as of December 31, 2020.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property and Equipment, net

12 Months Ended

Dec. 31, 2021

Property and Equipment, net

Property and Equipment, net

Note 5 – Property and Equipment, net

Property and equipment, net consisted of the following:


	December 31,		December 31,
	2021		2020

Computer equipment	$	281,666	$	174,317
Furniture and fixtures		84,477		18,798
Lab equipment		463,182		-
Leasehold improvements		152,117		-
Total		981,442		193,115
Accumulated depreciation		(174,219)		(128,752)
Property and equipment, net	$	807,223	$	64,363

Depreciation expense totaled $45,467 and $24,328 for the year ended December 31, 2021 and 2020, respectively.

Business Combination

12 Months Ended

Dec. 31, 2021

Business Combination

Business Combination.

Note 6 – Business Combination

BioArkive Acquisition

On December 22, 2021, the Company completed the acquisition of all outstanding shares of capital stock of BioArkive, Inc., a California corporation (“BioArkive”), for a market value of $8.75 million.

BioArkive is a San Diego based contract research organization that has previously provided preclinical research services and biosample storage to the Company and other biotechnology companies. BioArkive is in the process of being fully integrated into the Company to exclusively support the Company's internal preclinical research activities for its oncology pipeline.

In connection with the acquisition, the Company has assumed the obligations under BioArkive’s three lease agreements.

The purchase price was paid by Immuneering through the issuance of an aggregate of 379,635 shares of Immuneering’s Class A common stock. The number of shares of common stock issued was calculated using a value based on the average of the daily volume weighted average prices of the common stock on the Nasdaq Stock Exchange for the 30-trading day period ending on and including the trading day immediately prior to the closing date. The sellers of BioArkive are restricted from selling these shares for a 6 month period from the date of the acquisition. As such, we estimated that there was an approximate 10% discount for the lack of marketability of the shares. The fair value of the purchase price in the acquisition has been preliminarily estimated to be $7,875,000.

Prior to the acquistion, Brett Hall, Chief Scientific Officer of Immuneering and the Founder and Chairman of the board of directors of BioArkive, held the majority of the outstanding shares of BioArkive capital stock. BioArkive provided contract services to the Company. Research and development expenses in the consolidated statement of operations include the cost of services provided by BioArkive to the Company which amounted to $4,548,780 in 2021 through date of the acquisition and $2,744,051 in 2020. As of December 31, 2020, $279,153 was owed to BioArkive and is included in accounts payable or accrued contract research expenses in the consolidated balance sheets.

Assets Acquired and Liabilities Assumed at Fair Value

The BioArkive Acquisition has been accounted for using the acquisition method of accounting. This method requires that assets acquired and liabilities assumed in a business combination to be recognized at their fair values as of the acquisition date. As of December 31, 2021, certain amounts relating to working capital have not been finalized. The finalization of these matters could result in changes to goodwill.

Intangible Assets

The estimated fair value of the intangible assets was determined using the relief from royalty approach.

Goodwill

Goodwill is the excess of the consideration transferred over the net assets recognized and represents the expected cost savings of the combined company and assembled workforce. One of the key factors that contributes to the recognition of goodwill, and a driver for the Company's acquisition of BioArkive, is the planned investment in the internal preclinical research activities for our oncology pipeline. Goodwill recognized as a result of this acquisition is non-deductible for income tax purposes.

Pro forma results are not presented for this acquisition as they are not material to the consolidated results of the Company’s operations.


	Preliminary Valuation		Weighted Average Life
Cash	$	70,348
Other currents assets		225,790
Other long term assets		87,796
Property, plant and equipment, net		727,539
Right of use assets		4,824,700
Intangible asset
Technology		439,000		15 years
Goodwill		6,701,726

Total assets acquired		13,076,899

Accounts payable, accrued expenses and other liabilities		69,714
Deferred tax liabilities		307,485
Lease liabilities		4,824,700
Net assets acquired	$	7,875,000

Accrued Expenses

12 Months Ended

Dec. 31, 2021

Accrued Expenses

Accrued Expenses

Note 7 – Accrued Expenses

Accrued expenses consisted of the following:


	December 31,		December 31,
	2021		2020

Accrued professional services	$	250,977	$	269,302
Accrued employee expenses		2,917,282		163,668
Accrued contract research expenses		585,416		266,022
Accrued other		211,772		—
Total	$	3,965,447	$	698,992

Convertible Preferred Stock

12 Months Ended

Dec. 31, 2021

Convertible Preferred Stock

Convertible Preferred Stock

Note 8 – Convertible Preferred Stock

Series A Preferred Stock

In September 2019, the Company authorized the sale and issuance of up to 1,987,979 shares of Series A Preferred Stock, $0.001 par value per share, at an original issuance price of $8.5514 per share. In January 2020, the number of shares authorized for the Series A Preferred Stock was increased to 2,495,933 shares. The Series A Preferred Stock financing was structured to be issued in rolling closes during 2019 and 2020.

On September 20, 2019, the Company issued an additional 1,122,458 shares of Series A Preferred Stock for gross cash proceeds of $9,598,847 and issued 785,706 shares of Series A Preferred Stock in conjunction with the conversion of the outstanding amount of the Convertible Notes. In 2019, the Company incurred issuance costs of $200,587 in connection with this offering.

The Company received funds for issuance of an additional 468,315 shares of Series A Preferred Stock for gross cash proceeds of $4,004,975 through December 31, 2019. Of these shares, 410,436 shares of Series A Preferred Stock for gross cash proceeds of $3,509,802 exceeded the authorized amount allowed by the articles of incorporation, resulting in a liability of $3,509,802 and a total of 1,966,043 shares of Series A Preferred Stock outstanding at December 31, 2019. In January 2020, the shares that were previously classified as a liability as of December 31, 2019 were reclassified to temporary equity upon the approved increase to authorized shares of Series A Preferred Stock.

In January 2020, the Company issued 119,454 additional shares of Series A Preferred Stock for gross cash proceeds of $1,021,413. The Company incurred issuance costs of $23,610 in connection with the financing in January 2020.

Series B Preferred Stock

In December 2020, the Company authorized the sale and issuance of up to 6,032,183 shares of Series B Preferred Stock, $0.001 par value per share, at an original issuance price of $10.2782 per share. The Series B Preferred Stock financing was structured to close in two tranches. The first tranche closed in December 2020 and the Company issued 3,619,292 shares of Series B Preferred Stock for gross cash proceeds of $37,199,929. The Company incurred issuance costs of $216,019 in connection with the financing in December 2020.

The Company determined the right of the investors to purchase 2,412,853 shares of Series B Preferred Stock in the second tranche does not meet the definition of a freestanding financial instrument as it is not separable from the Series B Preferred Stock issued in the first tranche. The issuance of the second tranche is subject to the Company meeting certain development milestones or at the election of the holders of at least a majority of the then outstanding shares of Series B Preferred Stock which must include one specific shareholder (the “Requisite Holders”). Each holder of Series B Preferred Stock may elect to purchase their requisite shares of the second tranche at any time. As of March 31, 2021, the Company had not met these development milestones nor did the Requisite Holders elect to purchase the second tranche prior to meeting these milestones and therefore no shares of the second tranche were issued.

In April and May 2021, all 2,412,853 shares of the second tranche of Series B Preferred Stock were issued based on the voluntary election of substantially all of the holders of Series B Preferred Stock. The Company received gross proceeds of $24,799,786. The Company incurred issuance costs of $10,935 in connection with the second tranche of Series B Preferred Stock.

The rights and preferences of the Series A Preferred Stock and Series B Preferred Stock (“Preferred Stock”) were as described below:

Conversion

Each share of Preferred Stock may be converted at any time, at the option of the holder, into shares of Class A common stock, subject to the applicable conversion rate as determined by dividing the original issue price by the conversion price. The conversion price for the Series A Preferred Stock and Series B Preferred Stock (as may be adjusted for certain customary dilutive events) is $6.1081 and $7.3416, respectively. The Preferred Stock automatically convert into shares of Class A common stock at the then effective conversion rate upon the closing of a public offering of the Company’s securities with gross proceeds to the Company of at least $75,000,000 and a share price of at least $7.3416 or at the election of the holders of the Requisite Holders.

Holders of Series B Preferred Stock that would beneficially own at least 9.9% of any then outstanding class of equity securities may elect to receive a portion of their converted Series B Preferred Stock as Class B common stock upon conversion.

Upon the closing of the IPO on August 3, 2021, all 8,528,078 shares of the Company’s convertible preferred stock then outstanding automatically converted into 11,939,281 shares of Class A common stock.

Dividends

Preferred Stockholders are entitled to receive per annum dividends of 7% of the original issue price share, payable only when, as and if declared by the Board of Directors. The right to receive these dividends is not cumulative, and therefore, if not declared in any year, the right to receive such dividends shall terminate and not carry forward into the next year. As of December 31, 2021 and December 31, 2020, no dividends had been declared.

Voting Rights

Preferred Stock and common stock vote together as one class on an as converted basis. Common stock voting rights on certain matters are subject to the powers, preferences, and rights of the Preferred Stock. Preferred Stockholders are entitled to vote on all matters and shall have the number of votes equal to the number of shares of common stock into which the shares of Preferred Stock held by such holder are then convertible. As long as 2,132,029 shares of Preferred Stock are outstanding, certain actions such as mergers, acquisition, liquidation, dissolution, wind up of business, and deemed liquidation events, must be approved by the holders of at least a majority of the then-outstanding shares of Preferred Stock.

Liquidation Preference

Upon liquidation, dissolution, or winding up of business, holders of Preferred Stock are entitled to receive a liquidation preference in priority to holders of common stock at the original respective Preferred Stock issue price for such series. If assets available for distribution are insufficient to satisfy the liquidation payment to holders of Preferred Stock in full, assets available for distribution will be allocated among holders of Preferred Stock on a pari passu basis at an amount per share equal to the greater of the respective original Preferred Stock issue price for such series plus any declared but unpaid dividends or such amount had all shares been converted to common stock.

When holders of Preferred Stock are satisfied in full, any excess assets available for distribution will be allocated ratably among common stock holders based on their pro rata shareholdings. Upon a deemed liquidation event, as defined in the articles of incorporation, holders have the option to redeem their shares at the liquidation payment amounts summarized above.

Redemption

Other than described above, the shares of Preferred Stock are not redeemable.

Common Stock

12 Months Ended

Dec. 31, 2021

Common Stock.

Common Stock

Note 9 - Common Stock

The Company had 200,000,000 authorized shares of Class A common stock, $0.001 par value per share as of December 31, 2021 and 22,026,200 authorized shares of Class A common stock, $0.001 par value per share as of December 31, 2020, respectively, of which 26,320,199 and 4,950,129 were issued and outstanding, respectively. The holders of Class A common stock are entitled one vote for each share of common stock. Dividends may be paid when, and if declared by the Board of Directors, subject to the limitations, powers and preferences granted to the Preferred Stockholders and on a proportionate basis with holders of Class B common stock.

As of December 31, 2021 and December 31, 2020, the following number of shares of Class A common stock have been reserved:


	December 31,	December 31,
	2021	2020

Conversion of Series A Preferred	—	3,494,306
Conversion of Series B Preferred	—	5,066,995
Exercise of common stock warrants	—	308,308
Exercise of common stock options	2,859,544	1,801,263
	2,859,544	10,670,872

The Company had 20,000,000 authorized shares of Class B common stock, $0.001 par value per share as of December 31, 2021 and 6,032,183 authorized shares of Class B common stock, $0.001 par value per share as of December 31, 2020, of which no shares have been issued nor are outstanding. The holders of Class B common stock have no voting rights. Dividends may be paid when, and if, declared by the Board of Directors, subject to the limitations, powers and preferences granted to the preferred stockholders and on a proportionate basis with holders of Class A common stock.

Common Stock Warrants

During 2019, the Company issued warrants to purchase an aggregate of 308,308 shares of Class A common stock at an exercise price of $3.01 per share to several advisors, including 200,984 shares to entities related to members of the Board of Directors of the Company, in lieu of cash payments. These warrants vested immediately upon issuance, became exercisable on January 9, 2021 and have a 10-year term set to expire on January 9, 2030. The Company evaluated the terms of these warrants and determined that equity classification was appropriate. As of December 31, 2020, no warrants had been exercised. During June 2021, all warrant holders exercised their warrants to purchase an aggregate of 308,308 shares of common stock. As of December 31, 2021, there were no warrants outstanding.

Initial Public Offering

On August 3, 2021, the Company completed its initial public offering pursuant to which it issued and sold 8,625,000 shares of its Class A common stock, inclusive of 1,125,000 shares of its Class A common stock sold pursuant to the full exercise of the underwriters’ option to purchase additional shares. The aggregate net proceeds received by the Company from the IPO were $120,318,750, after deducting underwriting discounts and commissions, but before deducting offering costs payable by the Company, which were $2,124,317. Upon the closing of the IPO, all 8,528,078 shares of the Company’s convertible preferred stock then outstanding automatically converted into 11,939,281 shares of Class A common stock. Upon the conversion of the convertible preferred stock, the Company reclassified the carrying value of the convertible preferred stock to common stock (at par value) and additional paid-in capital.

On August 3, 2021 in connection with the closing of the IPO, the Company filed a restated certificate of incorporation, which amended and restated the Company’s certificate of incorporation to, among other things: (i) increase the number of

authorized shares of common stock to 200,000,000 shares of Class A common stock, 20,000,000 shares of Class B common stock, par value $0.001 per share, and (ii) authorize 10,000,000 shares of Preferred Stock; and (iii) authorize the Board of Directors to establish the rights, preferences and restrictions on any unissued series of Preferred Stock.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2021

Net Loss Per Share Attributable to Common Stockholders

Net Loss Per Share Attributable to Common Stockholders

Note 10 - Net Loss Per Share Attributable to Common Stockholders

Basic and diluted net loss per share attributable to common stockholders was calculated at December 31, 2021 and 2020 as follows:


	Year Ended December 31,
	2021		2020

Numerator:
Net loss	$	(33,535,748)	$	(17,039,898)
Denominator - basic and diluted:
Weighted-average common shares outstanding, basic and diluted		13,612,677		4,950,129
Net loss per share - basic and diluted	$	(2.46)	$	(3.44)

The following table sets forth the potentially dilutive securities that have been excluded from the calculation of diluted net loss per share because to include them would be anti-dilutive (in common stock equivalent shares) at December 31, 2021 and 2020:


	2021	2020

Series A Preferred	—	3,494,306
Series B Preferred	—	5,066,995
Warrants to purchase common stock	—	308,308
Options to purchase common stock	2,859,544	1,801,263
Total shares of common stock equivalents	2,859,544	10,670,872

Stock-Based Compensation

12 Months Ended

Dec. 31, 2021

Stock-Based Compensation

Stock-Based Compensation

Note 11 – Stock-Based Compensation

During 2015, the Company established the Long Term Incentive Plan (“Incentive Plan”), under which incentive stock options, nonqualified stock options, restricted stock or other awards may be awarded to employees, directors or consultants of the Company. The options typically vest over a four-year period. As of December 31, 2021, the maximum number of shares available for issuance under the Incentive Plan was 2,825,173 shares. Upon the effectiveness of the Company’s 2021 Incentive Award Plan, the Company ceased granting awards under the Incentive Plan. However, the Incentive Plan continues to goven awards outstanding thereunder.

On July 23, 2021, the Company’s Board of Directors adopted, and on July 23, 2021 its stockholders approved, the 2021 Incentive Award Plan (the “2021 Plan”), which became effective on July 29, 2021. The 2021 Plan provides for the grant of incentive stock options, stock appreciation rights, restricted stock awards, restricted stock units, and other stock-based awards. The number of shares reserved for issuance under the 2021 Plan was initially equal to 2,590,000 plus an annual increase on the first day of each calendar year, beginning on January 1, 2022 and ending on and including January 1, 2031, equal to the lesser of (i) 4% of the aggregate number of shares of Class A common stock outstanding on the final day of the immediately preceding calendar year and (ii) such smaller number of shares of Class A common stock as determined by the Board of Directors. No more than 15,350,000 shares of Class A common stock may be issued under the 2021 Plan upon the exercise of incentive stock options. Shares issued under the 2021 Plan may be authorized but unissued shares, shares purchased on the open market or treasury shares. If an award under the 2021 Plan expires, lapses or is terminated, exchanged for or settled in cash, surrendered, repurchased, cancelled without having been fully exercised/settled or forfeited, any unused shares subject to the award will, as applicable, become or again be available for new grants under the 2021 Plan. In addition, shares subject to stock options issued under the Incentive Plan may become available for issuance under the 2021 Plan to the extent such stock options are canceled, forfeited, exchanged, settled in cash or

otherwise terminated. As of December 31, 2021, there were 2,298,432 shares available for future issuance under the 2021 Plan.

On July 23, 2021, the Company’s Board of Directors adopted, and on July 23, 2021 its stockholders approved, the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which became effective on July 29, 2021. A total of 250,000 shares of Class A common stock were initially reserved for issuance under this plan. The number of shares of Class A common stock that may be issued under the 2021 ESPP will automatically increase on the first day of each calendar year, beginning on January 1, 2022 and ending on and including January 1, 2031, equal to the lesser of (i) 1% of the shares of Class A common stock outstanding on the final day of the immediately preceding calendar year and (ii) such smaller number of shares of Class A common stock as determined by the board of directors, provided that not more than 3,340,000 shares of Class A common stock may be issued under the 2021 ESPP. As of December 31, 2021, no shares had been issued under the 2021 ESPP.

During the year ended December 31, 2021 and 2020, the Company recognized stock-based compensation expense of $1,802,623 and $1,086,769, respectively. As of December 31, 2021, compensation expense remaining to be recognized for outstanding stock options was $8,403,600 and to be recognized over a weighted-average period of 2.93 years.

The fair value of options granted is calculated on the grant date using the Black-Scholes option valuation model. The Company historically has been a private company and lacks company-specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based on the historical volatility of a publicly traded set of peer public companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded stock price. For the year ended December 31, 2021, the Company granted 1,452,462 shares of stock options at a weighted-average grant date fair value of $6.29. For the year ended December 31, 2020, the Company granted 343,169 shares at a weighted-average grant date fair value of $3.06.

The Company used the following assumptions in its application of the Black-Scholes option pricing model for grants during the year ended December 31, 2021 and 2020:


	Year Ended December 31,
	2021	2020

Weighted-average risk-free interest rate	0.89% - 1.71%	0.36% - 1.45%
Expected term (in years)	5.83 - 10 years	5.92 - 10 years
Expected dividend yield	0%	0%
Expected volatility	66.76% - 80.99%	67.30% - 80.85%

The following table summarizes the stock option activity during the year ended December 31, 2021 under the Plan:


				Weighted
		Weighted-		Average
		Average		Remaining
	Number of	Exercise Price		Contractual	Aggregate
	Options	per Share		Term (in Years)	Intrinsic Value

Outstanding at of December 31, 2020	1,801,263	$	3.01
Granted	1,452,462		10.07
Exercised	(117,847)		3.01
Cancelled	(276,334)		3.58
Outstanding at December 31, 2021	2,859,544	$	6.55	8.30	$	27,615,466

Vested and exercisable at December 31, 2021	1,102,543	$	3.01	7.14	$	14,507,723
Vested and expected to vest at December 31, 2021	2,859,544	$	6.55	8.30	$	27,615,466

For the year ended December 31, 2021 and 2020, the Company recognized share-based compensation expense recognized on the accompanying consolidated statements of operations as follows:


	Year Ended December 31,
	2021		2020

Cost of revenue	$	103,329	$	108,027
Research and development		768,679		503,111
General and administrative		930,615		475,631
Total	$	1,802,623	$	1,086,769

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Taxes

Income Taxes

Note 12 – Income Taxes

A reconciliation of the effect of applying the federal statutory rate to the net loss and the effective income tax rate are as follows:


	2021		2020
Statutory federal income tax rate	21.0	%	21.0	%
State tax, net of federal benefit	5.5	%	6.3	%
Permanent differences	(0.6)	%	(1.5)	%
Federal research and development credits	5.6	%	4.5	%
State research and development credits	0.4	%	0.6	%
Uncertain tax positions	(0.6)	%	(1.0)	%
Other differences	0.7	%	(2.6)	%
Change in valuation allowance	(31.1)	%	(27.3)	%
Effective income tax rate	0.9	%	0.0	%

As of December 31, 2021 and 2020, the components and tax effects of each type of item that gave rise to the net deferred tax assets were as follows:


	2021		2020
Deferred tax assets:
Stock-based compensation expense	$	373,602	$	73,984
Unrealized losses		12,990		—
R&D credit carryforward		3,346,097		1,574,596
NOL carryforward		14,699,524		5,525,123
Gross deferred tax assets		18,432,213		7,173,703
Valuation allowance		(17,677,899)		(7,127,448)
Net deferred tax assets		754,314		46,255
Net deferred tax liabilities:
Prepaid expenses deducted for tax		(425,755)		(28,671)
Tax depreciation in excess of book		(328,559)		(17,584)
Total deferred tax liabilities		(754,314)		(46,255)
Net deferred taxes	$	—	$	—

Federal net operating losses (“NOL”) generated in tax years ended after December 31, 2017 are limited to 80% of taxable income, only carried forward and carried forward indefinitely under the Internal Revenue Code (“IRC”). The Company recorded a deferred tax liability of $304,485 on the acquisition of BioArkive. It had pre-existing deferred tax assets for which there was a fuill valuation allowance. As a result of the taxable temporary differences recognized in the business combination, the Company released $304,485 of its valuation allowance and recognized the income tax benefit in the income statement at the acquisition date in accordance with ASC 740 There was no income tax expense or benefit in 2020. The Company has provided a valuation allowance for the full amount of the net deferred tax assets as, based on all available evidence, it is considered more likely than not that all the recorded deferred tax assets will not be realized in a future period. At December 31, 2021, the Company has federal and state NOLs of $56,544,731 and $51,310,112,

respectively all generated after the tax year ended December 31, 2017. At December 31, 2021, the Company has federal and state research and development credit carryforwards, $3,034,827 and $394,013, respectively, that start to expire beginning in 2025.

As the Company has not yet achieved profitable operations, management believes the tax benefits as of December 31, 2021 did not satisfy the realization criteria set forth in ASC Topic 740, Income Taxes and, therefore, has recorded a full valuation allowance for the entire deferred tax asset. The valuation allowance increased in 2021 by $10,550,451 due to the increase in the deferred tax assets by the same amount, primarily due to NOL and research and development credit carryforwards.

Utilization of the U.S. net operating loss carryforwards and research and development tax credit carryforwards may be subject to a substantial annual limitation under Section 382 of the Internal Revenue Code of 1986, and corresponding provisions of state law, due to ownership changes that have occurred previously or that could occur in the future. These ownership changes may limit the amount of carryforwards that can be utilized annually to offset future taxable income. In general, an ownership change, as defined by Section 382, results from transactions increasing the ownership of certain stockholders or public groups in the stock of a corporation by more than 50% over a three-year period. The Company has not conducted a study to assess whether a change of control has occurred or whether there have been multiple changes of control since inception due to the significant complexity and cost associated with such a study. If the Company has experienced a change of control, as defined by Section 382, at any time since inception, utilization of the net operating loss carryforwards or research and development tax credit carryforwards would be subject to an annual limitation under Section 382, which is determined by first multiplying the value of the Company’s stock at the time of the ownership change by the applicable long-term tax-exempt rate, and then could be subject to additional adjustments, as required. Any limitation may result in expiration of a portion of the net operating loss carryforwards or research and development tax credit carryforwards before utilization. Further, until a study is completed by the Company and any limitation is known, some amounts are being presented as an uncertain tax position.

As of December 31, 2021 and 2020, the Company had uncertain tax positions of $380,902 and $174,950 which have been classified as reductions of its tax carrforwards. The Company has elected to recognize interest and penalties related to income tax matters as a component of income tax expense, of which no interest or penalties were recorded for the years ended December 31, 2021 and 2020.

As of December 31, 2021 and 2020, unrecognized tax benefits were as follows:


	2021		2020
Beginning balance	$	174,950	$	96,952
Increase due to current year tax position		205,952		77,998
Ending balance	$	380,902	$	174,950

The Company files tax returns in the United States including California, New York, Pennsylvania, Massachusetts and

Texas. All tax years from 2017 to 2021 remain open to examination by the major taxing jurisdictions to which the Company is subject, as carryforward attributes generated in years past may still be adjusted upon examination by the Internal Revenue Service (“IRS”) or other authorities if they have or will be used in a future period. The Company is not currently under examination by the IRS or any other jurisdictions for any tax years.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2019, 2020, and 2021 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. The enactment of the CARES Act resulted in increased federal and state research and development carryforwards from 2013 through 2018 of $93,437 and decreased federal NOL of $759,794 from 2018.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies.

Commitments and Contingencies

Note 13 – Commitments and Contingencies

Operating Leases

The Company leases office space in Cambridge, Massachusetts, New York, New York and as of July 2021, San Francisco, California, pursuant to short-term arrangements. The Cambridge and San Francisco leases are on a month-to-month basis, requiring one month’s notice before termination. The New York lease is renewable on a quarterly basis and the last renewal extended the lease term until March 31, 2022. These lease agreements include payments for lease and non-lease components and the Company has elected to not separate such components and these payments were recognized as rent expense.

As of December 31, 2021, total future minimum lease payments for its short-term leases in Cambridge, Massachusetts, New York, New York and San Francisco, California was $30,840 due in 2022. The Company leases storage space for its electronic data equipment in Somerville, Massachusetts. This lease is renewable on an annual basis effective every March 1st. Prior to December 31, 2021, the Company renewed the lease through March 31, 2022. As of December 31, 2021, total future minimum lease payments for this lease were $3,569 due in 2022.

In October 2020, the Company entered into an office lease in San Diego, California with a lease term of 67 months. At the lease commencement date, a right-to-use asset and lease liability was recognized by the Company for $637,863.

As part of the BioArkive acquisition, the Company assumed the obligations of three leases in San Diego, California, one is for 38,613 square feet of office and laboratory space, under a lease that terminates on April 30, 2032, a second is a 6,100 square feet of office and laboratory space under a lease that terminates on December 31, 2022, and third is a lease for 4,760 square feet of office and laboratory space under a lease that terminates on March 31, 2024. As a result, we recorded right-to-use assets and lease liabilities of $4,824,700 on the acquisition date of December 22, 2021.

Future minimum lease payments for operating leases with initial or remaining terms in excess of one year at December 31, 2021 were as follows


	Amount
2022	$	659,990
2023		880,121
2024		894,044
2025		906,839
2026		819,210
Thereafter		4,467,246
Total future lease payments		8,627,450
Less: Imputed interest		3,262,514
Total lease liabilities	$	5,364,936
Current portion lease liabilities		274,039
Lease liabilities, noncurrent		5,090,897
Total lease liabilities	$	5,364,936

Quantitative information regarding the Company’s leases for the year ended December 31, 2021 and 2020 is as follows:


	December 31,		December 31,
	2021		2020
Lease costs:
Operating lease cost	$	160,872	$	66,652
Short-term lease cost		258,357		252,796
Variable lease cost		—		14,700
Total lease costs	$	419,229	$	334,148
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	111,527	$	58,666
Operating cash flows from short-term leases		236,700		252,796
	$	348,227	$	311,462
Weighted-average remaining lease term - operating leases		9.62 years		5.33 years
Weighted-average discount rate - operating leases		9.7%		6.0%

As the Company’s leases typically do not provide an implicit rate, the Company uses an estimate of its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments.

Litigation

From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of its business activities and may be exposed to litigation in connection with its products and operations. The Company’s policy is to assess the likelihood of any adverse judgments or outcomes related to legal matters, as well as ranges of probable losses. When it is probable that future expenditures will be made and can be reasonably estimated the Company will accrue a liability for such matters. Significant judgement is required to determine both probability and estimated amount. The Company is not aware of any material legal matters.

Clinical Research Contracts

The Company may enter into contracts in the normal course of business with clinical research organizations for clinical trials, with contract manufacturing organizations for clinical supplies, and with other vendors for preclinical studies, supplies and other services for our operating purposes. These contracts generally provide for termination with a 30-day notice.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Summary of Significant Accounting Policies

Basis of Presentation

Basis of Presentation

Use of Estimates

Segments

Business Combination

Cash and Cash Equivalents

Cash and Cash Equivalents

Marketable Securities

Marketable Securities

Fair Value of Financial Instruments

Fair Value Measurements

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities.

information for these assets, including their classification in the fair value hierarchy is included in Note 4 Fair Value Measurements.

There have been no changes to the valuation methods during the year ended December 31, 2021. We evaluate transfers between levels at the end of each reporting period.

Accounts Receivable

Accounts Receivable

Concentration of Credit Risk

Concentration of Credit Risk

The following customers comprised 10% or more of the Company’s total accounts receivable or revenues as of or for the period ended December 31, 2021 (customers with an asterisk are less than 10%):


	Year Ended December 31, 2021				As of December 31, 2021
	Revenue		% of Total		Accounts Receivable		% of Total
Customer #1	$	745,030	35.8	%	$	235,500	95.7%	%
Customer #2		380,000	18.3			*	*
Customer #5		353,050	17.0			*	*


	Year Ended December 31, 2020				As of December 31, 2020
	Revenue		% of Total		Accounts Receivable		% of Total
Customer #1	$	676,710	29.3	%	$	214,345	42.9	%
Customer #2		570,000	24.7			71,250	14.2
Customer #3		306,900	13.3			*	*
Customer #4		250,880	10.9			63,000	12.6
Customer #5		*	*			91,975	18.4

Property and Equipment

Property and Equipment


		Estimated
Asset Class		Useful Lives
Computer equipment		3 years
Furniture and fixtures		5 years
Lab equipment		7 years
Leasehold improvements		1-10 years

Impairment of Long-lived Assets

Leases

Leases

Revenue Recognition

Revenue Recognition

• Identify the contract with a customer

• Identify the performance obligations in the contract

• Determine the transaction price

• Allocate the transaction price to the performance obligations in the contract

• Recognize revenue when or as performance obligations are satisfied

Income Taxes

Income Taxes

Research and Development

Research and Development

Research and Manufacturing Contract Costs and Accruals

Patent Costs

Patent Costs

Comprehensive Loss

Comprehensive Loss

Comprehensive loss includes net loss as well as other changes in stockholders’ equity (deficit) that result from transactions and economic events other than those with stockholders.

Deferred Offering Costs

Deferred Offering Costs

Net Income (Loss) per Share

Net Income (Loss) per Share

Stock-based Compensation

Stock-based Compensation

Goodwill

Goodwill

The goodwill test is performed at least annually, or more frequently if events or changes in circumstances indicate that the asset might be impaired.

The Company performs its annual impairment test during the fourth quarter of each fiscal year. There were no impairments in 2021.

Intangible Assets

Recently Issued Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Significant Accounting Policies

Schedule of concentration of credit risk


	Year Ended December 31, 2021				As of December 31, 2021
	Revenue		% of Total		Accounts Receivable		% of Total
Customer #1	$	745,030	35.8	%	$	235,500	95.7%	%
Customer #2		380,000	18.3			*	*
Customer #5		353,050	17.0			*	*


	Year Ended December 31, 2020				As of December 31, 2020
	Revenue		% of Total		Accounts Receivable		% of Total
Customer #1	$	676,710	29.3	%	$	214,345	42.9	%
Customer #2		570,000	24.7			71,250	14.2
Customer #3		306,900	13.3			*	*
Customer #4		250,880	10.9			63,000	12.6
Customer #5		*	*			91,975	18.4

Schedule of property and equipment


		Estimated
Asset Class		Useful Lives
Computer equipment		3 years
Furniture and fixtures		5 years
Lab equipment		7 years
Leasehold improvements		1-10 years

Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2021

Marketable Securities

Schedule of marketable securities


	December 31, 2021
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets:
Current:
U.S. Treasuries	$	42,147,385	$	-	$	(28,575)	$	42,118,810
Government securities		19,218,057		-		(13,689)		19,204,368
Commercial Paper		12,992,165		57		(4,197)		12,988,025
Total Current		74,357,607		57		(46,461)		74,311,203

Non-current:
U.S. Treasuries		999,186		-		(2,626)		996,560
Government securities		-		-		-		-
Total Non-current		999,186		-		(2,626)		996,560
Total marketable securities	$	75,356,793	$	57	$	(49,087)	$	75,307,763

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Measurements

Schedule of cash equivalents and marketable securities


		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market	$	33,961,344	$	-	$	-	$	33,961,344
Commercial paper		-		2,000,000		-		2,000,000
Total cash equivalents		33,961,344		2,000,000		-		35,961,344

Marketable securities:
U.S. Treasuries	$	43,115,370	$	-	$	-	$	43,115,370
Government securities		-		19,204,368		-		19,204,368
Commercial paper		-		12,988,025		-		12,988,025
Total marketable securities		43,115,370		32,192,393		-		75,307,763
Total cash equivalents and marketable securities	$	77,076,714	$	34,192,393	$	-	$	111,269,107

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2021

Property and Equipment, net

Schedule of property and equipment, net


	December 31,		December 31,
	2021		2020

Computer equipment	$	281,666	$	174,317
Furniture and fixtures		84,477		18,798
Lab equipment		463,182		-
Leasehold improvements		152,117		-
Total		981,442		193,115
Accumulated depreciation		(174,219)		(128,752)
Property and equipment, net	$	807,223	$	64,363

Business Combination (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination

Schedule of Assets Acquired and Liabilities Assumed at Fair Value


	Preliminary Valuation		Weighted Average Life
Cash	$	70,348
Other currents assets		225,790
Other long term assets		87,796
Property, plant and equipment, net		727,539
Right of use assets		4,824,700
Intangible asset
Technology		439,000		15 years
Goodwill		6,701,726

Total assets acquired		13,076,899

Accounts payable, accrued expenses and other liabilities		69,714
Deferred tax liabilities		307,485
Lease liabilities		4,824,700
Net assets acquired	$	7,875,000

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2021

Accrued Expenses

Schedule of accrued expenses


	December 31,		December 31,
	2021		2020

Accrued professional services	$	250,977	$	269,302
Accrued employee expenses		2,917,282		163,668
Accrued contract research expenses		585,416		266,022
Accrued other		211,772		—
Total	$	3,965,447	$	698,992

Common Stock (Tables)

12 Months Ended

Dec. 31, 2021

Common Stock.

Schedule of common stock for conversion of preferred stock, exercise of warrants and exercise of stock options


	December 31,	December 31,
	2021	2020

Conversion of Series A Preferred	—	3,494,306
Conversion of Series B Preferred	—	5,066,995
Exercise of common stock warrants	—	308,308
Exercise of common stock options	2,859,544	1,801,263
	2,859,544	10,670,872

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21553-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=122040564&loc=d3e177068-122764

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21488-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21484-112644

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Net Loss Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Dec. 31, 2021

Net Loss Per Share Attributable to Common Stockholders

Schedule of basic and diluted net loss per share attributable to common stockholders


	Year Ended December 31,
	2021		2020

Numerator:
Net loss	$	(33,535,748)	$	(17,039,898)
Denominator - basic and diluted:
Weighted-average common shares outstanding, basic and diluted		13,612,677		4,950,129
Net loss per share - basic and diluted	$	(2.46)	$	(3.44)

Schedule of potentially dilutive securities that have been excluded from the calculation of diluted net loss per share


	2021	2020

Series A Preferred	—	3,494,306
Series B Preferred	—	5,066,995
Warrants to purchase common stock	—	308,308
Options to purchase common stock	2,859,544	1,801,263
Total shares of common stock equivalents	2,859,544	10,670,872

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Stock-Based Compensation

Schedule of assumptions in its application of the Black-Scholes option pricing model for grants


	Year Ended December 31,
	2021	2020

Weighted-average risk-free interest rate	0.89% - 1.71%	0.36% - 1.45%
Expected term (in years)	5.83 - 10 years	5.92 - 10 years
Expected dividend yield	0%	0%
Expected volatility	66.76% - 80.99%	67.30% - 80.85%

Summary of stock option activity


				Weighted
		Weighted-		Average
		Average		Remaining
	Number of	Exercise Price		Contractual	Aggregate
	Options	per Share		Term (in Years)	Intrinsic Value

Outstanding at of December 31, 2020	1,801,263	$	3.01
Granted	1,452,462		10.07
Exercised	(117,847)		3.01
Cancelled	(276,334)		3.58
Outstanding at December 31, 2021	2,859,544	$	6.55	8.30	$	27,615,466

Vested and exercisable at December 31, 2021	1,102,543	$	3.01	7.14	$	14,507,723
Vested and expected to vest at December 31, 2021	2,859,544	$	6.55	8.30	$	27,615,466

Summary of recognized share-based compensation expense recognized


	Year Ended December 31,
	2021		2020

Cost of revenue	$	103,329	$	108,027
Research and development		768,679		503,111
General and administrative		930,615		475,631
Total	$	1,802,623	$	1,086,769

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Taxes

Schedule of federal statutory rate to the net loss and the effective income tax rate


	2021		2020
Statutory federal income tax rate	21.0	%	21.0	%
State tax, net of federal benefit	5.5	%	6.3	%
Permanent differences	(0.6)	%	(1.5)	%
Federal research and development credits	5.6	%	4.5	%
State research and development credits	0.4	%	0.6	%
Uncertain tax positions	(0.6)	%	(1.0)	%
Other differences	0.7	%	(2.6)	%
Change in valuation allowance	(31.1)	%	(27.3)	%
Effective income tax rate	0.9	%	0.0	%

Schedule of net deferred tax assets


	2021		2020
Deferred tax assets:
Stock-based compensation expense	$	373,602	$	73,984
Unrealized losses		12,990		—
R&D credit carryforward		3,346,097		1,574,596
NOL carryforward		14,699,524		5,525,123
Gross deferred tax assets		18,432,213		7,173,703
Valuation allowance		(17,677,899)		(7,127,448)
Net deferred tax assets		754,314		46,255
Net deferred tax liabilities:
Prepaid expenses deducted for tax		(425,755)		(28,671)
Tax depreciation in excess of book		(328,559)		(17,584)
Total deferred tax liabilities		(754,314)		(46,255)
Net deferred taxes	$	—	$	—

Schedule of unrecognized tax benefits


	2021		2020
Beginning balance	$	174,950	$	96,952
Increase due to current year tax position		205,952		77,998
Ending balance	$	380,902	$	174,950

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies.

Schedule of Maturities of the lease liabilities due


	Amount
2022	$	659,990
2023		880,121
2024		894,044
2025		906,839
2026		819,210
Thereafter		4,467,246
Total future lease payments		8,627,450
Less: Imputed interest		3,262,514
Total lease liabilities	$	5,364,936
Current portion lease liabilities		274,039
Lease liabilities, noncurrent		5,090,897
Total lease liabilities	$	5,364,936

Schedule of Quantitative information regarding the Company's leases


	December 31,		December 31,
	2021		2020
Lease costs:
Operating lease cost	$	160,872	$	66,652
Short-term lease cost		258,357		252,796
Variable lease cost		—		14,700
Total lease costs	$	419,229	$	334,148
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	111,527	$	58,666
Operating cash flows from short-term leases		236,700		252,796
	$	348,227	$	311,462
Weighted-average remaining lease term - operating leases		9.62 years		5.33 years
Weighted-average discount rate - operating leases		9.7%		6.0%

Organization and Nature of Business (Details) - USD ($)		12 Months Ended
Organization and Nature of Business (Details) - USD ($)	Aug. 03, 2021	Dec. 31, 2021	Dec. 31, 2020
Organization and Nature of Business
Aggregate net proceeds		$ 120,318,750
Convertible preferred stock, outstanding (in shares)	8,528,078
Shares issued upon conversion	11,939,281
Accumulated deficit		$ 59,273,388	$ 25,737,640
Class A Common Stock
Organization and Nature of Business
Shares issued	1,125,000
Convertible preferred stock, outstanding (in shares)	11,939,281
IPO
Organization and Nature of Business
Aggregate net proceeds	$ 120,318,750
Offering costs	$ 2,124,317
Convertible preferred stock, outstanding (in shares)	8,528,078
IPO \| Class A Common Stock
Organization and Nature of Business
Shares issued	8,625,000

- Definition

The cumulative amount of the reporting entity's undistributed earnings or deficit.

+ References + Details

Summary of Significant Accounting Policies - Narrative (Details)		12 Months Ended
	Jul. 23, 2021	Dec. 31, 2021 USD ($) segment	Dec. 31, 2020 USD ($)
Summary of Significant Accounting Policies
Stock split, ratio	1
Number of operating segments \| segment		1
Allowance for doubtful accounts		$ 0	$ 0
Impairment		$ 0
Lease, practical expedients		true
Uncertain tax positions		$ 380,902	174,950
Deferred offering costs		$ 0	$ 0
Expected dividend yield		0.00%	0.00%
Goodwill impairments		$ 0

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Concentration Risk [Line Items]
Accounts receivable	$ 246,040	$ 500,110
Revenue \| Customer risk \| Customer 1
Concentration Risk [Line Items]
Revenue	$ 745,030	$ 676,710
Risk percentage	35.80%	29.30%
Revenue \| Customer risk \| Customer 2
Concentration Risk [Line Items]
Revenue	$ 380,000	$ 570,000
Risk percentage	18.30%	24.70%
Revenue \| Customer risk \| Customer 3
Concentration Risk [Line Items]
Revenue		$ 306,900
Risk percentage		13.30%
Revenue \| Customer risk \| Customer 4
Concentration Risk [Line Items]
Revenue		$ 250,880
Risk percentage		10.90%
Revenue \| Customer risk \| Customer 5
Concentration Risk [Line Items]
Revenue	$ 353,050
Risk percentage	17.00%
Accounts receivable \| Customer risk \| Customer 1
Concentration Risk [Line Items]
Accounts receivable	$ 235,500	$ 214,345
Risk percentage	95.70%	42.90%
Accounts receivable \| Customer risk \| Customer 2
Concentration Risk [Line Items]
Accounts receivable		$ 71,250
Risk percentage		14.20%
Accounts receivable \| Customer risk \| Customer 4
Concentration Risk [Line Items]
Accounts receivable		$ 63,000
Risk percentage		12.60%
Accounts receivable \| Customer risk \| Customer 5
Concentration Risk [Line Items]
Accounts receivable		$ 91,975
Risk percentage		18.40%

Summary of Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Computer equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Lab equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	7 years
Leaseholds and Leasehold Improvements [Member] \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	1 year
Leaseholds and Leasehold Improvements [Member] \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years

Marketable Securities (Details) - USD ($)	12 Months Ended
Marketable Securities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Marketable Securities
Impairment on available-for-sale marketable securities	$ 0
Realized gains or losses on marketable securities	0
Marketable securities, current
Marketable securities at amortized cost, current	74,357,607
Marketable securities unrealized gains, current	57
Marketable securities unrealized losses, current	(46,461)
Marketable securities, current	74,311,203
Marketable securities, non-current
Marketable securities at amortized cost, non-current	999,186
Marketable securities unrealized losses, non-current	(2,626)
Marketable securities, non-current	996,560
Marketable securities
Marketable securities at amortized cost	75,356,793
Marketable securities unrealized gains	57
Marketable securities unrealized losses	(49,087)
Marketable securities	75,307,763	$ 0
U.S. Treasuries
Marketable securities, current
Marketable securities at amortized cost, current	42,147,385
Marketable securities unrealized losses, current	(28,575)
Marketable securities, current	42,118,810
Marketable securities, non-current
Marketable securities at amortized cost, non-current	999,186
Marketable securities unrealized losses, non-current	(2,626)
Marketable securities, non-current	996,560
Government securities
Marketable securities, current
Marketable securities at amortized cost, current	19,218,057
Marketable securities unrealized losses, current	(13,689)
Marketable securities, current	19,204,368
Commerical paper
Marketable securities, current
Marketable securities at amortized cost, current	12,992,165
Marketable securities unrealized gains, current	57
Marketable securities unrealized losses, current	(4,197)
Marketable securities, current	$ 12,988,025

Fair Value Measurements (Details) - USD ($)	12 Months Ended
Fair Value Measurements (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Assets:
Financial liabilities classified as Level 3	$ 0
Marketable securities	75,307,763	$ 0
Recurring
Assets:
Total cash equivalents	35,961,344
Total marketable securities	75,307,763
Total cash equivalents and marketable securities	111,269,107
Recurring \| Money market
Assets:
Total cash equivalents	33,961,344
Recurring \| Commerical paper
Assets:
Total cash equivalents	2,000,000
Total marketable securities	12,988,025
Recurring \| U.S. Treasuries
Assets:
Total marketable securities	43,115,370
Recurring \| Government securities
Assets:
Total marketable securities	19,204,368
Recurring \| Level 1
Assets:
Total cash equivalents	33,961,344
Total marketable securities	43,115,370
Total cash equivalents and marketable securities	77,076,714
Recurring \| Level 1 \| Money market
Assets:
Total cash equivalents	33,961,344
Recurring \| Level 1 \| U.S. Treasuries
Assets:
Total marketable securities	43,115,370
Recurring \| Level 2
Assets:
Total cash equivalents	2,000,000
Total marketable securities	32,192,393
Total cash equivalents and marketable securities	34,192,393
Recurring \| Level 2 \| Commerical paper
Assets:
Total cash equivalents	2,000,000
Total marketable securities	12,988,025
Recurring \| Level 2 \| Government securities
Assets:
Total marketable securities	$ 19,204,368

Property and Equipment, net (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Property and Equipment, net
Property and equipment, gross	$ 981,442	$ 193,115
Accumulated depreciation	(174,219)	(128,752)
Property and equipment, net	807,223	64,363
Computer equipment
Property and Equipment, net
Property and equipment, gross	281,666	174,317
Furniture and fixtures
Property and Equipment, net
Property and equipment, gross	84,477	$ 18,798
Lab equipment
Property and Equipment, net
Property and equipment, gross	463,182
Leasehold improvements
Property and Equipment, net
Property and equipment, gross	$ 152,117

Property and Equipment, net - Depreciation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property and Equipment, net
Depreciation expense	$ 45,467	$ 24,328

Business Combination - Narrative (Details)		12 Months Ended
Business Combination - Narrative (Details)	Dec. 22, 2021 USD ($) D agreement shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
BioArkive Inc \| Accounts payable or accrued expenses
Business Acquisition [Line Items]
Amount owned to related party			$ 279,153
BioArkive Inc \| Research and development
Business Acquisition [Line Items]
Amount of related party expenses		$ 4,548,780	$ 2,744,051
BioArkive Inc
Business Acquisition [Line Items]
Market value of acquisition	$ 8,750,000
Number of lease obligations acquired	3	3
Shares issued \| shares	379,635
Trading days for share price \| D	30
Lock in period for shares issued	6 months
Shares issued discount due to lack of marketability	10.00%
Consideration transferred	$ 7,875,000

Business Combination - Assets Acquired and Liabilities Assumed (Details) - USD ($)	Dec. 22, 2021	Dec. 31, 2021
Intangible asset
Goodwill		$ 6,701,726
BioArkive Inc
Assets Acquired and Liabilities Assumed at Fair Value
Cash	$ 70,348
Other currents assets	225,790
Other long term assets	87,796
Property, plant and equipment, net	727,539
Right of use assets	4,824,700
Intangible asset
Technology	439,000
Goodwill	6,701,726
Total assets acquired	13,076,899
Accounts payable, accrued expenses and other liabilities	69,714
Deferred tax liabilities	307,485
Lease liabilities	4,824,700
Net assets acquired	$ 7,875,000
Weighted Average Life, technology	15 years

Accrued Expenses (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Accrued Expenses
Accrued professional services	$ 250,977	$ 269,302
Accrued employee expenses	2,917,282	163,668
Accrued contract research expenses	585,416	266,022
Accrued other	211,772
Total	$ 3,965,447	$ 698,992

Convertible Preferred Stock - Series A (Details) - USD ($)			1 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 20, 2019	Jan. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 03, 2021	Sep. 30, 2019
Temporary Equity [Line Items]
Issuance costs				$ 2,124,317
Convertible preferred stock, outstanding (in shares)							8,528,078
Series A Preferred Stock
Temporary Equity [Line Items]
Convertible preferred stock, authorized (in shares)			2,495,933	0	2,495,933			1,987,979
Convertible preferred stock, par value per share (in dollars per share)				$ 0.001	$ 0.001			$ 0.001
Convertible preferred stock, issuance price (in dollars per share)								$ 8.5514
Convertible preferred stock, issued (in shares)	468,315	1,122,458	119,454	0	2,495,933	468,315
Gross proceeds from issuance of convertible stock	$ 4,004,975	$ 9,598,847	$ 1,021,413		$ 998,306
Number of shares issued upon conversion of debt		785,706
Issuance costs			$ 23,610			$ 200,587
Number of shares excess of authorized	410,436					410,436
Proceeds from issuance of shares excess of amount authorized	$ 3,509,802
Convertible preferred stock liability	$ 3,509,802					$ 3,509,802
Convertible preferred stock, outstanding (in shares)	1,966,043			0	2,495,933	1,966,043
Convertible preferred stock, conversion price				$ 6.1081
Series A Preferred Stock \| Minimum
Temporary Equity [Line Items]
Convertible preferred stock, issuance price (in dollars per share)				$ 7.3416
Gross proceeds from issuance of convertible stock				$ 75,000,000

Convertible Preferred Stock - Series B (Details)	1 Months Ended	2 Months Ended	3 Months Ended	12 Months Ended
Convertible Preferred Stock - Series B (Details)	Dec. 31, 2020 USD ($) tranche $ / shares shares	May 31, 2021 USD ($) shares	Mar. 31, 2021 shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) tranche $ / shares shares	Aug. 03, 2021 shares
Temporary Equity [Line Items]
Issuance costs \| $				$ 2,124,317
Dividend, Percentage				7.00%
Dividend declared \| $				$ 0	$ 0
Preferred stock, outstanding	0			0	0
Shares issued upon conversion						11,939,281
Minimum
Temporary Equity [Line Items]
Preferred stock, outstanding				2,132,029
Series B Preferred Stock
Temporary Equity [Line Items]
Convertible preferred stock, authorized (in shares)	6,032,183			0	6,032,183
Convertible preferred stock, par value per share (in dollars per share) \| $ / shares	$ 0.001			$ 0.001	$ 0.001
Convertible preferred stock, issuance price (in dollars per share) \| $ / shares	$ 10.2782				$ 10.2782
Number of tranches \| tranche	2				2
Convertible preferred stock, issued (in shares)	3,619,292			0	3,619,292
Gross proceeds from issuance of convertible stock \| $				$ 24,788,851	$ 36,983,910
Number of shares not meet the definition of a freestanding financial instrument			2,412,853
Convertible preferred stock, conversion price \| $ / shares				$ 7.3416
Percentage of equity securities to be own				9.90%
Series B Preferred Stock Tranche One
Temporary Equity [Line Items]
Convertible preferred stock, issued (in shares)	3,619,292				3,619,292
Gross proceeds from issuance of convertible stock \| $	$ 37,199,929
Issuance costs \| $	$ 216,019
Series B Preferred Stock Tranche Two
Temporary Equity [Line Items]
Convertible preferred stock, issued (in shares)		2,412,853	0
Gross proceeds from issuance of convertible stock \| $		$ 24,799,786
Issuance costs \| $		$ 10,935

Common Stock - Class A common stock (Details) - Class A Common Stock	12 Months Ended
	Dec. 31, 2021 Vote $ / shares shares	Dec. 31, 2020 Vote $ / shares shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	200,000,000	22,026,200
Common stock, par value per share (in dollars per share) \| $ / shares	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	26,320,199	4,950,129
Common stock, shares outstanding (in shares)	26,320,199	4,950,129
Number of votes \| Vote	1	1

Common Stock (Details) - shares	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Shares reserved for future issuance	2,859,544	10,670,872
Series A Preferred Stock
Class of Stock [Line Items]
Shares reserved for future issuance		3,494,306
Series B Preferred Stock
Class of Stock [Line Items]
Shares reserved for future issuance		5,066,995
Common stock warrants
Class of Stock [Line Items]
Shares reserved for future issuance		308,308
Common stock options
Class of Stock [Line Items]
Shares reserved for future issuance	2,859,544	1,801,263

Common Stock - Class B common stock (Details) - Class B Common Stock	12 Months Ended
	Dec. 31, 2021 Vote $ / shares shares	Dec. 31, 2020 Vote $ / shares shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	20,000,000	6,032,183
Common stock, par value per share (in dollars per share) \| $ / shares	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0
Number of votes \| Vote	0	0

Common Stock - Common stock warrant (Details) - USD ($)	1 Months Ended	12 Months Ended
Common Stock - Common stock warrant (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
Common Stock.
Warrants issued for common shares			308,308
Warrant exercise price			$ 3.01
Warrants in lieu of cash payment			200,984
Term of warrant			10 years
Warrant exercised	308,308	0
Warrants outstanding				$ 0

Common Stock - IPO (Details) - USD ($)	Aug. 03, 2021	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Convertible preferred stock, outstanding (in shares)	8,528,078
Preferred stock authorized (in shares)		10,000,000	0
Class A Common Stock
Class of Stock [Line Items]
Shares issued	1,125,000
Convertible preferred stock, outstanding (in shares)	11,939,281
Common stock, shares authorized (in shares)		200,000,000	22,026,200
Common stock, par value per share (in dollars per share)		$ 0.001	$ 0.001
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		20,000,000	6,032,183
Common stock, par value per share (in dollars per share)		$ 0.001	$ 0.001
IPO
Class of Stock [Line Items]
Proceeds from Stock issued	$ 120,318,750
Offering costs	$ 2,124,317
Convertible preferred stock, outstanding (in shares)	8,528,078
Preferred stock authorized (in shares)	10,000,000
IPO \| Class A Common Stock
Class of Stock [Line Items]
Shares issued	8,625,000
Common stock, shares authorized (in shares)	200,000,000
IPO \| Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	20,000,000
Common stock, par value per share (in dollars per share)	$ 0.001

Net Loss Per Share Attributable to Common Stockholders - Basic and diluted net loss per share attributable to common stockholders (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net loss	$ (33,535,748)	$ (17,039,898)
Denominator - basic and diluted:
Weighted-average common shares outstanding, basic	13,612,677	4,950,129
Weighted-average common shares outstanding, diluted	13,612,677	4,950,129
Net loss per share, basic	$ (2.46)	$ (3.44)
Net loss per share, diluted	$ (2.46)	$ (3.44)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

+ Details

Net Loss Per Share Attributable to Common Stockholders - Antidilutive effect (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares of common stock equivalents	2,859,544	10,670,872
Series A Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares of common stock equivalents		3,494,306
Series B Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares of common stock equivalents		5,066,995
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares of common stock equivalents		308,308
Common stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares of common stock equivalents	2,859,544	1,801,263

Stock-Based Compensation - Narratives (Details) - USD ($)		12 Months Ended
	Jul. 23, 2021	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 1,802,623	$ 1,086,769
Granted (in shares)		1,452,462	343,169
Grant date weighted average fair value		$ 6.29	$ 3.06
Shares reserved for future issuance		2,859,544	10,670,872
Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Stock-based compensation expense		$ 1,802,623	$ 1,086,769
Compensation expense remaining to be recognized		$ 8,403,600
Compensation expense recognized over a weighted-average period		2 years 11 months 4 days
Incentive Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance		2,825,173
2021 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		0
2021 ESPP \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance	250,000
Aggregate number of shares outstanding (as a percent)	1.00%
2021 ESPP \| Maximum \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	3,340,000
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance		2,298,432
2021 Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance	2,590,000
Aggregate number of shares outstanding (as a percent)	4.00%
2021 Plan \| Maximum \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	15,350,000

Stock-Based Compensation - Assumptions (Details)	12 Months Ended
Stock-Based Compensation - Assumptions (Details)	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average risk-free interest rate, minimum		0.36%
Weighted-average risk-free interest rate, maximum		1.45%
Expected dividend yield	0.00%	0.00%
Expected volatility, minimum	66.76%	67.30%
Expected volatility, maximum	80.99%	80.85%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average risk-free interest rate, minimum	0.89%
Expected term (in years)	5 years 9 months 29 days	5 years 11 months 1 day
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	10 years	10 years

Stock-Based Compensation - stock option activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of options
Outstanding at the beginning (in shares)	1,801,263
Granted (in shares)	1,452,462	343,169
Exercised (in shares)	(117,847)
Repurchased (in shares)	(276,334)
Outstanding at the end (in shares)	2,859,544	1,801,263
Vested and exercisable (in shares)	1,102,543
Vested and expected to vest (in shares)	2,859,544
Weighted Average Exercise Price per Share
Weighted Average Exercise Price per Share Outstanding at the beginning (in dollars per share)	$ 3.01
Weighted Average Exercise Price per Share Granted (in dollars per share)	10.07
Weighted Average Exercise Price per Share Exercised (in dollars per share)	3.01
Weighted Average Exercise Price per Share Repurchased (in dollars per share)	3.58
Weighted Average Exercise Price per Share Outstanding at the end (in dollars per share)	6.55	$ 3.01
Weighted Average Exercise Price per Share Vested and Exercisable (in dollars per share)	3.01
Weighted Average Exercise Price per Share Vested and Expected to Vest exercisable (in dollars per share)	$ 6.55
Weighted Average Remaining Contractual Contractual Term
Weighted Average Remaining Contractual Term (in years)	8 years 3 months 18 days
Weighted Average Remaining Contractual Term, Vested and exercisable (in Years)	7 years 1 month 20 days
Weighted Average Remaining Contractual Term, Vested and expected to vest (in Years)	8 years 3 months 18 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value Outstanding	$ 27,615,466
Aggregate Intrinsic Value Vested and exercisable	14,507,723
Aggregate Intrinsic Value Vested and expected to vest	$ 27,615,466

Stock-Based Compensation - Share-based compensation expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1,802,623	$ 1,086,769
Cost of service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	103,329	108,027
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	768,679	503,111
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 930,615	$ 475,631

Income Taxes - Net loss and the effective income tax rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of the effect of applying the federal statutory rate to the net loss and the effective income tax rate
Statutory federal income tax rate	21.00%	21.00%
State tax, net of federal benefit	5.50%	6.30%
Permanent differences	(0.60%)	(1.50%)
Federal research and development credits	5.60%	4.50%
State research and development credits	0.40%	0.60%
Uncertain tax positions	(0.60%)	(1.00%)
Other differences	0.70%	(2.60%)
Change in valuation allowance	(31.10%)	(27.30%)
Effective income tax rate	0.90%	0.00%

Income Taxes - Net deferred tax assets (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Stock-based compensation expense	$ 373,602	$ 73,984
Unrealized losses	12,990
R&D credit carryforward	3,346,097	1,574,596
NOL carryforward	14,699,524	5,525,123
Gross deferred tax assets	18,432,213	7,173,703
Valuation allowance	(17,677,899)	(7,127,448)
Net deferred tax assets	754,314	46,255
Net deferred tax liabilities:
Prepaid expenses deducted for tax	(425,755)	(28,671)
Tax depreciation in excess of book	(328,559)	(17,584)
Total deferred tax liabilities	$ (754,314)	$ (46,255)

Income Taxes - Narrative (Details) - USD ($)		12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Mar. 27, 2020	Dec. 31, 2021	Dec. 31, 2017	Dec. 22, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ 10,550,451
Unrecognized Tax Benefits		380,902			$ 174,950	$ 96,952
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued		0			$ 0
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards		56,544,731
Domestic Tax Authority [Member] \| Research Tax Credit Carryforward [Member]
Operating Loss Carryforwards [Line Items]
Tax Credit Carryforward, Amount		3,034,827
Tax Credit Carryforward, Increase (Decrease), CARES Act	$ 759,794
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards		51,310,112
State and Local Jurisdiction [Member] \| Research Tax Credit Carryforward [Member]
Operating Loss Carryforwards [Line Items]
Tax Credit Carryforward, Amount		$ 394,013
Tax Credit Carryforward, Increase (Decrease), CARES Act	$ 93,437
BioArkive Inc
Operating Loss Carryforwards [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities				$ 307,485
Deferred Taxes, Business Combination, Valuation Allowance, Available to Reduce Income Tax Expense			$ 304,485
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount			$ 304,485

Income Taxes - Unrecognized tax benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 174,950	$ 96,952
Increase due to current year tax provision	205,952	77,998
Ending balance	$ 380,902	$ 174,950

Commitments and Contingencies - Narratives (Details)	Dec. 31, 2021 USD ($) ft²	Dec. 22, 2021 agreement	Dec. 31, 2020 USD ($)	Oct. 31, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Right of use asset	$ 5,324,198		$ 613,103
BioArkive Inc
Lessee, Lease, Description [Line Items]
Right of use asset	4,824,700
Lease liability	$ 4,824,700
Number of Leases Obligations Assumed	3	3
Lease Termination on April 30, 2032 [Member] \| BioArkive Inc
Lessee, Lease, Description [Line Items]
Area of Property Under Lease \| ft²	38,613
Lease Termination on December 31, 2022 [Member] \| BioArkive Inc
Lessee, Lease, Description [Line Items]
Area of Property Under Lease \| ft²	6,100
Lease Termination on March 31, 2024 [Member] \| BioArkive Inc
Lessee, Lease, Description [Line Items]
Area of Property Under Lease \| ft²	4,760
Office Space In Cambridge, Massachusetts, New York [Member]
Lessee, Lease, Description [Line Items]
Minimum lease payment due 2022	$ 30,840
Storage Space In Somerville, Massachusetts [Member]
Lessee, Lease, Description [Line Items]
Minimum lease payment due 2022	3,569
2020 San Diego Lease
Lessee, Lease, Description [Line Items]
Minimum lease payment due 2022	659,990
Lease term				67 months
Right of use asset				$ 637,863
Lease liability	$ 5,364,936			$ 637,863

Commitments and Contingencies - Maturities of the lease liabilities due (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Oct. 31, 2020
Lessee, Lease, Description [Line Items]
Current portion lease liability	$ 274,039	$ 76,322
Lease liability, noncurrent	5,090,897	$ 544,767
2020 San Diego Lease
Lessee, Lease, Description [Line Items]
2022	659,990
2023	880,121
2024	894,044
2025	906,839
2026	819,210
Thereafter	4,467,246
Total future lease payments	8,627,450
Less: Imputed interest	3,262,514
Total lease liabilities	5,364,936		$ 637,863
Current portion lease liability	274,039
Lease liability, noncurrent	$ 5,090,897

Commitments and Contingencies - Lease cost (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lease costs:
Operating lease cost	$ 160,872	$ 66,652
Short-term lease cost	258,357	252,796
Variable lease cost		14,700
Total lease costs	419,229	334,148
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	111,527	58,666
Operating cash flows from short-term leases	236,700	252,796
Total lease Payment	$ 348,227	$ 311,462
Weighted-average remaining lease term - operating leases	9 years 7 months 13 days	5 years 3 months 29 days
Weighted-average discount rate - operating leases	9.70%	6.00%