0001790340-24-000024 | 10-K | XBRL Viewer

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Fair Value Measurements - Narrative (Details) - USD ($)	12 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Financial assets classified as Level 3	$ 0	$ 0
Financial liabilities classified as Level 3	$ 0	$ 0

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Revenue	$ 0	$ 316,952
Cost of revenue	0	158,122
Gross profit	0	158,830
Operating expenses
Research and development	41,624,018	36,267,116
General and administrative	16,759,602	15,606,529
Amortization of intangible asset	29,267	30,053
Total operating expenses	58,412,887	51,903,698
Loss from operations	(58,412,887)	(51,744,868)
Other income (expense)
Interest income	3,606,996	1,014,456
Other income, net	1,334,269	216,844
Net loss	$ (53,471,622)	$ (50,513,568)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (1.88)	$ (1.91)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (1.88)	$ (1.91)
Weighted-average common shares outstanding, basic (in shares)	28,416,558	26,386,864
Weighted-average common shares outstanding, diluted (in shares)	28,416,558	26,386,864
Other comprehensive loss:
Unrealized gain from marketable securities	$ 29,342	$ 18,889
Comprehensive Loss	$ (53,442,280)	$ (50,494,679)

Accrued Expenses

12 Months Ended

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Accrued Expenses

Accrued expenses consisted of the following:


	December 31, 2023		December 31, 2022

Accrued professional services	$	297,160	$	297,234
Accrued employee expenses	3,625,911		3,631,082
Accrued research and development expenses	1,146,398		425,846
Accrued other	104,491		146,831
Total	$	5,173,960	$	4,500,993

Organization and Nature of Business (Details) - USD ($)			12 Months Ended
Organization and Nature of Business (Details) - USD ($)	Apr. 20, 2023	Aug. 03, 2021	Dec. 31, 2023	Dec. 31, 2022
Organization and Nature of Business
Proceeds from public offering of common stock, net of commissions and underwriting			$ 28,200,003	$ 0
Accumulated deficit			$ (163,258,578)	$ (109,786,956)
Class A Common Stock
Organization and Nature of Business
Shares issued (in shares)		1,125,000
Common stock, par value per share (in dollars per share)			$ 0.001	$ 0.001
IPO
Organization and Nature of Business
Proceeds from public offering of common stock, net of commissions and underwriting		$ 120,318,750
Offering costs		$ 2,124,317
IPO \| Class A Common Stock
Organization and Nature of Business
Shares issued (in shares)		8,625,000
Underwriting Offering
Organization and Nature of Business
Shares sold (in shares)	2,727,273
Sale of stock (in dollars per share)	$ 11.00
Proceeds from company offering	$ 28,200,003
Proceeds, before deducting offering costs payable	$ 203,768		$ 203,768
Underwriting Offering \| Class A Common Stock
Organization and Nature of Business
Common stock, par value per share (in dollars per share)	$ 0.001

Common Stock - Equity Offerings (Details) - USD ($)			12 Months Ended
Common Stock - Equity Offerings (Details) - USD ($)	Apr. 20, 2023	Aug. 10, 2022	Dec. 31, 2023	Dec. 31, 2022
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value per share (in dollars per share)			$ 0.001	$ 0.001
At the market offering
Class of Stock [Line Items]
Percentage on gross proceeds from common stock sold for sales agent commission		3.00%
Deferred offering costs			$ 300,000	$ 300,000
Shares sold (in shares)			0	0
At the market offering \| Class A Common Stock
Class of Stock [Line Items]
Common stock, par value per share (in dollars per share)		$ 0.001
Aggregate gross sales proceeds		$ 50,000,000
Underwriting Offering
Class of Stock [Line Items]
Shares sold (in shares)	2,727,273
Sale of stock (in dollars per share)	$ 11.00
Proceeds from company offering	$ 28,200,003
Sale of stock, proceeds before deducting offering costs payable	$ 203,768		$ 203,768
Underwriting Offering \| Class A Common Stock
Class of Stock [Line Items]
Common stock, par value per share (in dollars per share)	$ 0.001
Maximum
Class of Stock [Line Items]
Aggregate amount		$ 200,000,000
Date of effective period		3 years

Stock-Based Compensation - Share-based compensation expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 5,727,135	$ 4,064,446
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	0	9,703
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2,668,710	1,978,169
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3,058,425	$ 2,076,574

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Commitments and Contingencies - Narrative (Details)	1 Months Ended	12 Months Ended
Commitments and Contingencies - Narrative (Details)	Jan. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 22, 2021 USD ($) ft² agreement	Oct. 31, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Right of use asset		$ 3,995,730	$ 4,407,785
Decrease in right-of-use asset	$ 347,739
Incremental borrowing rate	6.00%
Lease liability		4,462,959
Minimum lease payment due 2024		$ 732,546
Notice period for contract termination		30 days
BioArkive Inc
Lessee, Lease, Description [Line Items]
Right of use asset				$ 4,824,700
Number of lease obligations assumed \| agreement				3
Lease liability				$ 4,824,700
Lease Termination on April 30, 2032
Lessee, Lease, Description [Line Items]
Area of Property Under Lease \| ft²				38,613
Lease Termination on December 31, 2022
Lessee, Lease, Description [Line Items]
Area of Property Under Lease \| ft²				6,100
Lease Termination on March 31, 2024
Lessee, Lease, Description [Line Items]
Area of Property Under Lease \| ft²				4,760
2020 San Diego Lease
Lessee, Lease, Description [Line Items]
Lease term					67 months
Right of use asset					$ 637,863
Office and Laboratory Space in San Diego California
Lessee, Lease, Description [Line Items]
Period of lease modification	20 months
Office Space In Cambridge, Massachusetts, New York
Lessee, Lease, Description [Line Items]
Minimum lease payment due 2024		$ 54,340

Marketable Securities - Narrative (Details) - USD ($)	12 Months Ended
Marketable Securities - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Credit loss related to short-term investments	$ 0	$ 0
Allowance for credit loss	$ 0	$ 0

Commitments and Contingencies - Lease cost and contract termination (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lease costs:
Operating lease cost	$ 876,795	$ 1,002,989
Short-term lease cost	210,902	282,775
Sublease income	(147,930)	(178,620)
Total lease costs	939,767	1,107,144
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	843,463	609,790
Operating cash flows from short-term leases	210,902	282,775
Total lease Payment	$ 1,054,365	$ 892,565
Weighted-average remaining lease term - operating leases	8 years 3 months 25 days	9 years 1 month 28 days
Weighted-average discount rate - operating leases	10.00%	9.10%

Income Taxes - Narrative (Details) - USD ($)		12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 22, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Valuation allowance and recognized the income tax benefit		$ 11,234,961
Uncertain tax positions		699,527	$ 541,067	$ 380,902
Unrecognized tax benefits, income tax penalties and interest accrued		0	$ 0
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		75,737,889
Domestic Tax Authority \| Research Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
Tax credit carryforward, amount		5,845,815
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		42,123,069
State and Local Jurisdiction \| Research Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
Tax credit carryforward, amount		$ 1,149,466
BioArkive Inc
Operating Loss Carryforwards [Line Items]
Deferred tax liability	$ 304,485
Valuation allowance and recognized the income tax benefit	$ 304,485

Common Stock	12 Months Ended
Common Stock	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Common Stock	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, 2023 and December 31, 2022 of which 29,271,629 and 26,418,732 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. The Company had 20,000,000 authorized shares of Class B common stock, $0.001 par value per share as of December 31, 2023 and December 31, 2022, 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. Equity Offerings On August 10, 2022, the Company filed a Registration Statement on Form S-3 (File No. 333-266738) (the “2022 Shelf Registration Statement”) with the SEC in relation to the registration of common stock, preferred stock, debt securities, warrants and/or units or any combination thereof in the aggregate amount of up to $200 million for a period of up to three years from the date of its effectiveness on August 19, 2022. On August 10, 2022, the Company also entered into the Sales Agreement with the Sales Agent to sell shares of the Company’s Class A common stock, par value $0.001 per share, with aggregate gross sales proceeds of up to $50 million, from time to time, through an “at the market” equity offering program (the “ATM Program”) under the 2022 Shelf Registration Statement. Subject to the terms and conditions of the Sales Agreement, the Sales Agent may sell the shares by methods deemed to be an “at the market offering” as defined in Rule 415 promulgated under the Securities Act, including sales made through the Nasdaq Global Market, on any other existing trading market for the common stock, to or through a market maker, or, if expressly authorized by the Company, in privately negotiated transactions. The Company or Sales Agent may terminate the Sales Agreement upon notice to the other party and subject to other conditions. The Company will pay the Sales Agent a commission equal to 3.0% of the gross proceeds of any Common Stock sold through the Sales Agent under the Sales Agreement and has provided the Sales Agent with customary indemnification rights. Issuance costs incurred related to the Sales Agreement are classified as long-term assets on the balance sheet at December 31, 2023. The Company had approximately $0.3 million of deferred offering costs as of both December 31, 2023 and December 31, 2022. No shares were sold pursuant to the ATM Program during the years ended December 31, 2023 or December 31, 2022, respectively. On April 20, 2023, the Company completed an underwritten follow-on equity offering, pursuant to which it issued and sold 2,727,273 shares of its Class A common stock, $0.001 par value per share, at an offering price of $11.00 per share under the 2022 Shelf Registration Statement. The aggregate net proceeds received by the Company from the offering were $28,200,003, after deducting underwriting discounts and commissions, but before deducting offering costs payable by the Company of $203,768.

- Definition

The entire disclosure for equity.

+ References

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+ Details

Common Stock - Class B Common Stock (Details) - Class B Common Stock	12 Months Ended
	Dec. 31, 2023 Vote $ / shares shares	Dec. 31, 2022 Vote $ / shares shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	20,000,000	20,000,000
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

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	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.
Use of Estimates	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 believed 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 include but are not limited to: the accrued research and development expenses, the determination of fair value of stock-based awards, and the impairment of goodwill and intangible assets. Actual results may differ materially and adversely from these estimates.
Segments	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.
Cash and Cash Equivalents	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.
Marketable Securities	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 stockholders’ equity and a component of total comprehensive loss in the consolidated statements of comprehensive loss, until realized. We review marketable securities for impairment whenever the fair value of a marketable security is less than the amortized cost and evidence indicates that a marketable security’s carrying amount is not recoverable. Unrealized losses are evaluated for impairment under ASC 326, Financial Instruments - Credit Losses, to determine if the impairment is credit-related or noncredit-related. Credit-related impairment is recognized as an allowance on the balance sheet with a corresponding adjustment to earnings, and noncredit-related impairment is recognized in other comprehensive (loss) income, net of taxes. Evidence considered in this assessment includes reasons for the impairment, compliance with our investment policy, the severity of the impairment, collectability of the security, and any adverse conditions specifically related to the security, an industry, or geographic area. 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, 2023. Realized gains and losses are included in other income, net on a specific-identification basis. There were no realized gains or losses on marketable securities for the years ended December 31, 2023 and 2022, respectively.
Fair Value Measurements	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, 2023. 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, 2023. 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 Accounts receivable are stated at the amount management expects to collect from outstanding balances. We monitor the financial performance and creditworthiness of our customers so that we can properly assess and respond to changes in their credit profile. We reserve against these receivables for estimated losses that may arise from a customer’s inability to pay. Amounts determined to be uncollectible are charged or written-off against the reserve. At December 31, 2023 and 2022 there was no allowance for credit losses.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments which potentially subject us to credit risk consist primarily of cash, cash equivalents, and marketable securities. We hold these investments in highly rated financial institutions, and, by policy, limit the amount of credit exposure at any one financial institution. These investments at times exceed federally insured limits. We have not experienced any credit losses in such accounts and do not believe we are exposed to any significant credit risk on the funds. We have no off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts, or other hedging arrangements. 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. There was no revenue in fiscal year 2023 due to the wind down of our computational biology professional services and completion of existing customer services contracts during the year ended December 31, 2022. As of December 31, 2023, there were no remaining accounts receivable or customers.
Property and Equipment	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.
Impairment of Long-lived Assets	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	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 leases are reflected in right-of-use assets and lease liabilities (current and non-current) in the consolidated balance sheets.
Revenue Recognition	Revenue Recognition In accordance with ASC 606 Revenue from Contracts with Customers, 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 With respect to the Company's historical services business (which has ceased), the Company’s contracts generally consist of the promise to provide computational biology professional services to pharmaceutical and biotechnology companies, which the Company 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 services 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 services 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. In fiscal year 2023, the Company did not enter or perform any services contracts.
Income Taxes	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, 2023 and 2022, the Company had uncertain tax positions of $699,527 and $541,067, respectively. The Company has classified the unrecognized tax benefits as reductions of its tax credit carryforwards.
Research and Development	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	Research and Manufacturing Contract Costs and Accruals The Company has entered into various research, development and manufacturing contracts with research institutions and other companies inside and outside of 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	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 Income (Loss)	Comprehensive Income (Loss) Comprehensive income (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 The Company capitalizes certain legal, professional, and other third-party charges related to ongoing equity financings as deferred offering costs until fully consummated. These costs are to be recorded as a reduction of the offering’s proceeds which are recorded to additional paid-in capital within stockholders’ equity. Should the Company choose not to initiate such financing, the deferred offering costs would be immediately expensed as operating expenses. On August 10, 2022, the Company entered into an Equity Distribution Agreement (the “Sales Agreement”) with Piper Sandler & Co, (the “Sales Agent”) to sell shares of the Company’s common stock, par value $0.001 per share, with aggregate gross sales proceeds of up to $50 million, from time to time, through an “at the market” equity offering program. Deferred offering costs associated with the Sales Agreement are reclassified to additional paid in capital on a pro-rata basis when the Company completes offerings under the Sales Agreement. Any remaining deferred costs will be expensed to the statement of operations should the planned offering be abandoned. The Company had approximately $0.3 million and $0.3 million of deferred offering costs as of December 31, 2023 and 2022, respectively.
Net Income (Loss) per Share	Net Income (Loss) per Share 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, 2023 and 2022.
Stock-based Compensation	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 non-employees, 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, which 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. 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 prior to the IPO was 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 included estimates and assumptions that required the Company’s judgment. These estimates and assumptions included 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 represented management’s best estimates, which involved 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 and Intangible Assets	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 Company’s market capitalization has declined, which may be an indicator of impairment. The Company will continue to assess the impact of its market capitalization and any other indicators of potential impairment. It is possible that if the Company’s market capitalization decline is more than temporary, or if other indicators of impairment are identified, an interim impairment analysis may be necessary, which could result in an impairment of goodwill, intangible assets and other long-lived assets in future periods. 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 during the years ended December 31, 2023 or 2022. 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	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 (the "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, the Company will not be required to adopt certain 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 No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Statements ("ASU 2016-13"). 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 2016-13 became effective for the Company on January 1, 2023. The Company adopted this effective January 1, 2023 and there was no material impact to the consolidated financial statements. In January 2017, the FASB issued ASU No. 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 adopted this effective January 1, 2023 and there was no impact to the consolidated financial statements. In November 2023, the FASB issued Accounting Standards Update ASU No. 2023-07, Segment Reporting (Topic 280) (“ASU 2023-07”). The guidance in ASU 2023-07 expands prior reportable segment disclosure requirements by requiring entities to disclose significant segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and details of how the CODM uses financial reporting to assess their segment’s performance. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023, with early adoption permitted. The Company is currently evaluating the impact that the adoption of ASU 2023-07 may have on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). The guidance in ASU 2023-09 improves the transparency of income tax disclosures by greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The standard is effective for public companies for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact that the adoption of ASU 2023-09 may have on its consolidated financial statements.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (53,471,622)	$ (50,513,568)
Adjustment to reconcile to net loss to net cash used in operating activities:
Depreciation expense	322,816	247,199
Reduction in carrying amount of right-of-use assets	412,055	519,541
Amortization of intangibles	29,267	30,053
Stock-based compensation expense	5,727,135	4,064,446
Net accretion of discount on marketable securities	(1,017,583)	(171,382)
Loss on disposal of fixed assets	3,939	5,170
(Increase) decrease in:
Accounts receivable	12,417	233,623
Prepaid expenses and other current assets	(172,660)	(284,346)
Other assets	(290,742)	(360,200)
Increase (decrease) in:
Accounts payable	(1,106,896)	1,760,217
Accrued expenses	721,989	474,568
Lease liabilities	(378,723)	(126,382)
Other liabilities	239,974	19,796
Net cash used in operating activities	(48,968,634)	(44,101,265)
Cash flows from investing activities:
Purchases of property and equipment	(342,746)	(742,483)
Purchases of marketable securities	(44,660,762)	(50,104,515)
Maturities of marketable securities	52,300,000	92,678,000
Net cash provided by investing activities	7,296,492	41,831,002
Cash flows from financing activities:
Proceeds from public offering of common stock, net of commissions and underwriting	28,200,003	0
Payment of public offering costs	(203,768)	(281,375)
Proceeds from exercise of stock options	444,838	300,379
Net cash provided by financing activities	28,441,073	19,004
Net decrease in cash and cash equivalents	(13,231,069)	(2,251,259)
Cash and cash equivalents at beginning of period	72,636,886	74,888,145
Cash and cash equivalents at end of period	59,405,817	72,636,886
Supplemental disclosures of noncash investing and financing information:
Reduction of right-of-use asset and lease liability in connection with lease modification	0	396,901
Property and equipment in accounts payable/accrued expenses	$ 14,983	$ 72,272

Income Taxes - Net loss and the effective income tax rate (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
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	(3.20%)	6.10%
Permanent differences	(0.90%)	(0.90%)
Federal research and development credits	4.10%	2.30%
State research and development credits	0.00%	0.20%
Uncertain tax positions	(0.40%)	(0.30%)
Other differences	0.10%	0.90%
Change in valuation allowance	(20.70%)	(29.30%)
Effective income tax rate	0.00%	0.00%

Summary of Significant Accounting Policies - Schedule of Concentration of Credit Risk (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Accounts Receivable	$ 0	$ 12,417
Revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Revenue	0
Revenue \| Customer Concentration Risk \| Customer #1
Concentration Risk [Line Items]
Revenue		$ 299,890
Percentage of total		94.60%
Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Accounts Receivable	$ 0
Accounts Receivable \| Customer Concentration Risk \| Customer #1
Concentration Risk [Line Items]
Accounts Receivable		$ 11,275
Percentage of total		90.80%

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Organization and Nature of Business	12 Months Ended
Organization and Nature of Business	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	Organization and Nature of Business Immuneering Corporation, a Delaware corporation (“Immuneering” or the “Company”), was incorporated in 2008. Immuneering is a clinical-stage oncology company developing medicines for broad populations of cancer patients, with an initial aim to therapeutically address patients harboring RAS or RAF mutations. The Company aims to achieve universal RAS/RAF activity through deep cyclic inhibition of the MAPK pathway, impacting cancer cells while sparing healthy cells. Immuneering’s lead product candidates, IMM-1-104 and IMM-6-415, are in Phase 1/2a clinical trials in patients with advanced solid tumors harboring RAS and RAS/RAF mutations, respectively. The Company is developing IMM-1-104 as a once-daily oral therapy that aims to achieve universal-RAS activity and IMM-6-415 with an accelerated twice-daily oral dosing cadence that aims to achieve universal-RAS/RAF activity, in each case through deep cyclic inhibition of the MAPK pathway. The Company’s development pipeline also includes several early-stage programs. 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 programs 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. On April 20, 2023, the Company completed an underwritten follow-on equity offering, pursuant to which it issued and sold 2,727,273 shares of its Class A common stock $0.001 par value per share at an offering price of $11.00 per share. The aggregate net proceeds received by the Company from the offering were $28,200,003, after deducting underwriting discounts and commissions, but before deducting offering costs payable by the Company of $203,768. To date, the Company has funded its operations through service revenues (which have since ceased), and with proceeds from the sale of its capital stock and convertible notes. The Company has incurred recurring losses over the past several years and as of December 31, 2023, the Company had an accumulated deficit of $163,258,578. 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 considered whether or not there are conditions or events, in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern, and concluded that there are none as it estimates that its cash, cash equivalents and marketable securities 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.

Marketable Securities

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable securities consisted of the following as of December 31, 2023 and 2022, respectively:


	December 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets:
Current:
U.S. Treasuries	$	2,989,460	$	430	$	—	$	2,989,890
Government securities	15,342,582		888		(2,902)		15,340,568
Commercial Paper	7,928,122		1,301		(13)		7,929,410
Total marketable securities	$	26,260,164	$	2,619	$	(2,915)	$	26,259,868


	December 31, 2022
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets:
Current:
U.S. Treasuries	$	12,986,424	$	—	$	(25,649)	$	12,960,775
Government securities	8,084,107		1,099		(12,021)		8,073,185
Commercial Paper	11,847,902		6,847		(739)		11,854,010
Total marketable securities	32,918,433		7,946		(38,409)		32,887,970

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 stockholders’ equity 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 years ended December 31, 2023 and 2022. Realized gains and losses are included in other income (expense).

Our marketable securities portfolio contains investments in U.S. Treasury, other U.S. government-backed securities, and commercial paper. We review our portfolio based on the underlying risk profile of the securities and we don't expect there to be a loss on these investments. We also regularly review the securities in an unrealized loss position and evaluate the current expected credit loss by considering factors such as historical experience, market data, issuer-specific factors, and current economic conditions.

During the years ended December 31, 2023 and 2022, we recognized no year-to-date credit loss related to our short-term investments, and had no allowance for credit loss recorded as of December 31, 2023 and 2022.

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

Depreciation is calculated using the straight-line method once assets are placed in service.


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

Property and equipment, net consisted of the following:


	December 31, 2023		December 31, 2022

Computer equipment	$	550,861	$	437,346
Furniture and fixtures	98,628		91,317
Lab equipment	1,180,445		970,374
Leasehold improvements	298,941		288,908
Total	2,128,875		1,787,945
Accumulated depreciation	(728,293)		(418,337)
Property and equipment, net	$	1,400,582	$	1,369,608

Summary of Significant Accounting Policies - Narrative (Details)		12 Months Ended
	Aug. 10, 2022 USD ($) $ / shares	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)
Class of Stock [Line Items]
Number of operating segments \| segment		1
Realized gains or losses on marketable securities		$ 0	$ 0
Allowance for credit loss		0	0
Accounts receivable		0	12,417
Impairment		0
Uncertain tax positions		699,527	541,067
Proceeds from public offering of common stock, net of commissions and underwriting		$ 28,200,003	$ 0
Expected dividend yield		0.00%	0.00%
Goodwill impairments		$ 0	$ 0
Revenue \| Customer Concentration Risk
Class of Stock [Line Items]
Revenue		0
Accounts Receivable \| Customer Concentration Risk
Class of Stock [Line Items]
Accounts receivable		0
Equity Distribution Agreement \| Sandler and Co
Class of Stock [Line Items]
Common stock, par value per share (in dollars per share) \| $ / shares	$ 0.001
Proceeds from public offering of common stock, net of commissions and underwriting	$ 50,000,000
Deferred offering costs		$ 300,000	$ 300,000

Common Stock - Class A Common Stock (Details) - Class A Common Stock	12 Months Ended
	Dec. 31, 2023 Vote $ / shares shares	Dec. 31, 2022 Vote $ / shares shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, par value per share (in dollars per share) \| $ / shares	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	29,271,629	26,418,732
Common stock, shares outstanding (in shares)	29,271,629	26,418,732
Number of votes \| Vote	1	1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

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, 2023, 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 “2021 Plan”), the Company ceased granting awards under the Incentive Plan. However, the Incentive Plan continues to govern awards outstanding thereunder.

On July 23, 2021, the Company’s Board of Directors adopted, and on July 23, 2021 its stockholders approved, 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, 2023, there were 1,546,979 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, 2023, there were 777,389 shares of common stock reserved for future issuance under the 2021 ESPP and no shares had been granted or purchased under the 2021 ESPP.

During the years ended December 31, 2023 and December 31, 2022, the Company recognized stock-based compensation expense of $5,727,135 and $4,064,446, respectively. As of December 31, 2023, compensation expense remaining to be recognized for outstanding stock options was $11,188,798 and to be recognized over a weighted-average period of 2.53 years.

The fair value of options granted is calculated on the grant date using the Black-Scholes option valuation model. Prior to the Company's IPO on August 3, 2021, the Company was a private company and thus 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 companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own publicly traded stock price. For the year ended December 31, 2023, the Company granted 2,411,610 shares of stock options at a weighted-average grant date fair value of $5.41. For the year ended December 31, 2022, the Company granted 1,227,810 shares at a weighted-average grant date fair value of $9.83.

The Company used the following assumptions in its application of the Black-Scholes option pricing model for grants during the year ended December 31, 2023 and 2022:


	Year Ended December 31,
	2023	2022

Weighted-average risk-free interest rate	3.46% - 4.80%	1.35% - 4.15%
Expected term (in years)	5.00 - 10.00	5.00 - 10.00
Expected dividend yield	0%	0%
Expected volatility	64.86% - 70.50%	64.67% - 78.12%

The following table summarizes the stock option activity during the year ended December 31, 2023:


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

Outstanding as of December 31, 2022	3,559,041	$	7.36
Granted	2,411,610	5.41
Exercised	(125,624)	3.54
Cancelled	(348,630)	8.10
Outstanding as December 31, 2023	5,496,397	$	6.54	7.33	$	11,556,739

Vested and exercisable at December 31, 2023	2,874,152	$	5.99	6.16	$	7,377,923

For the years ended December 31, 2023 and 2022, the Company recognized share-based compensation expense on the accompanying consolidated statements of operations as follows:


	Year Ended December 31,
	2023		2022

Cost of revenue	$	—	$	9,703
Research and development	2,668,710		1,978,169
General and administrative	3,058,425		2,076,574
Total	$	5,727,135	$	4,064,446

Accrued Expenses (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Accrued professional services	$ 297,160	$ 297,234
Accrued employee expenses	3,625,911	3,631,082
Accrued research and development expenses	1,146,398	425,846
Accrued other	104,491	146,831
Total	$ 5,173,960	$ 4,500,993

AUDIT INFORMATION	12 Months Ended
AUDIT INFORMATION	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	49
Auditor Name	RSM US LLP
Auditor Location	Boston, Massachusetts

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

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:


	2023		2022
Statutory federal income tax rate	21.0	%	21.0	%
State tax, net of federal benefit	(3.2)	%	6.1	%
Permanent differences	(0.9)	%	(0.9)	%
Federal research and development credits	4.1	%	2.3	%
State research and development credits	—	%	0.2	%
Uncertain tax positions	(0.4)	%	(0.3)	%
Other differences	0.1	%	0.9	%
Change in valuation allowance	(20.7)	%	(29.3)	%
Effective income tax rate	—	%	—	%

As of December 31, 2023 and 2022, the components and tax effects of each type of item that gave rise to the net deferred tax assets were as follows:


	2023		2022
Deferred tax assets:
Stock-based compensation expense	$	1,387,849	$	1,059,866
Research expenses	16,282,709		6,758,291
Unrealized losses	172		10,419
Accrued Bonus	602,121		—
R&D credit carryforward	6,295,756		4,146,850
NOL carryforward	19,095,948		20,842,910
Gross deferred tax assets	43,664,555		32,818,336
Valuation allowance	(43,274,909)		(32,039,948)
Net deferred tax assets	389,646		778,388
Net deferred tax liabilities:
Prepaid expenses deducted for tax	(173,497)		(353,224)
Right of use	(103,034)		(117,445)
Tax depreciation in excess of book	(113,115)		(307,719)
Total deferred tax liabilities	(389,646)		(778,388)
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 of 1986, as amended (the “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 full 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 Topic 740, Income Taxes ("ASC 740"). There was no income tax expense or benefit in 2023. 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, 2023, the Company has federal and state NOLs of $75,737,889 and $42,123,069, respectively, all generated after the tax year ended December 31, 2017. At December 31, 2023, the Company has federal and state research and development credit carryforwards of $5,845,815 and $1,149,466, respectively, that start to expire beginning in 2026.

As the Company has not yet achieved profitable operations, management believes the tax benefits as of December 31, 2023 did not satisfy the realization criteria set forth in ASC 740 and, therefore, has recorded a full valuation allowance for the entire deferred tax asset. The valuation allowance increased in 2023 by $11,234,961 due to the increase in the deferred tax assets by the same amount, primarily due to NOL and research and development expenses.

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 IRC, 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, no amounts are being presented as an uncertain tax position.

As of December 31, 2023 and December 31, 2022, the Company had uncertain tax positions of $699,527 and $541,067, respectively. The Company has classified the unrecognized tax benefits as reductions of its tax carryforwards. 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, 2023 and 2022.

As of December 31, 2023 and December 31, 2022, unrecognized tax benefits were as follows:


	2023		2022
Beginning balance	$	541,067	$	380,902
Increase due to current year tax position	158,460		160,165
Ending balance	$	699,527	$	541,067

The Company files tax returns in the United States including California, New York, Pennsylvania, Massachusetts and Texas. All tax years from 2017 to 2023 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 to its knowledge currently under examination by the IRS or in any other jurisdictions for any tax years.

- 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Paragraph 17
-Subparagraph (b)
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Cash Equivalents and Marketable Securities

The following table summarizes our cash equivalents and marketable securities measured at fair value on a recurring basis as of December 31, 2023 and 2022, respectively:


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
U.S. Treasuries	$	3,488,205	$	—	$	—	$	3,488,205
Money market	50,122,883		—		$	—	50,122,883
Commercial paper	—		2,494,670		—		2,494,670
Government securities	—		2,981,550		—		2,981,550
Total cash equivalents	53,611,088		5,476,220		—		59,087,308

Marketable securities:
U.S. Treasuries	$	2,989,890	$	—	$	—	$	2,989,890
Government securities	—		15,340,568		—		15,340,568
Commercial paper	—		7,929,410		—		7,929,410
Total marketable securities	2,989,890		23,269,978		—		26,259,868
Total cash equivalents and marketable securities	$	56,600,978	$	28,746,198	$	—	$	85,347,176


	December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market	$	19,118,892	$	—	$	—	$	19,118,892
Government securities	—		2,742,025		—		2,742,025
Commercial paper	—		1,249,575		—		1,249,575
Total cash equivalents	19,118,892		3,991,600		—		23,110,492

Marketable securities:
U.S. Treasuries	$	12,960,775	$	—	$	—	$	12,960,775
Government securities	—		8,073,185		—		8,073,185
Commercial paper	—		11,854,010		—		11,854,010
Total marketable securities	12,960,775		19,927,195		—		32,887,970
Total cash equivalents and marketable securities	$	32,079,667	$	23,918,795	$	—	$	55,998,462

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)	Total	Class A Common Stock	Class B Common Stock	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2021				26,320,199	0
Beginning balance at Dec. 31, 2021	$ 155,980,109			$ 26,320	$ 0	$ 215,276,186	$ (49,009)	$ (59,273,388)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)				98,533
Issuance of common stock upon exercise of stock options	300,379			$ 99		300,280
Stock-based compensation expense	4,064,446					4,064,446
Net loss	(50,513,568)							(50,513,568)
Other comprehensive (loss) gain	18,889						18,889
Ending balance (in shares) at Dec. 31, 2022		26,418,732	0	26,418,732	0
Ending balance at Dec. 31, 2022	$ 109,850,255			$ 26,419	$ 0	219,640,912	(30,120)	(109,786,956)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	125,624			125,624
Issuance of common stock upon exercise of stock options	$ 444,838			$ 126		444,712
Issuance of common stock upon public offering, net of commissions, underwriting discounts and issuance costs (in shares)				2,727,273
Issuance of common stock upon public offering, net of commissions, underwriting discounts and issuance costs	27,996,235			$ 2,727		27,993,508
Stock-based compensation expense	5,727,135					5,727,135
Net loss	(53,471,622)							(53,471,622)
Other comprehensive (loss) gain	29,342						29,342
Ending balance (in shares) at Dec. 31, 2023		29,271,629	0	29,271,629	0
Ending balance at Dec. 31, 2023	$ 90,576,183			$ 29,272	$ 0	$ 253,806,267	$ (778)	$ (163,258,578)

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Preferred stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
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	200,000,000
Common stock, shares issued (in shares)	29,271,629	26,418,732
Common stock, shares outstanding (in shares)	29,271,629	26,418,732
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	20,000,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Property Plant and Equipment (Details)	Dec. 31, 2023
Computer equipment
Property and Equipment, net
Estimated Useful Lives	3 years
Furniture and fixtures
Property and Equipment, net
Estimated Useful Lives	5 years
Lab equipment
Property and Equipment, net
Estimated Useful Lives	7 years
Leasehold improvements \| Minimum
Property and Equipment, net
Estimated Useful Lives	1 year
Leasehold improvements \| Maximum
Property and Equipment, net
Estimated Useful Lives	10 years

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

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.

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 believed 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 include but are not limited to: the accrued research and development expenses, the determination of fair value of stock-based awards, and the impairment of goodwill and intangible assets. 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.

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.

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 stockholders’ equity and a component of total comprehensive loss in the consolidated statements of comprehensive loss, until realized.

We review marketable securities for impairment whenever the fair value of a marketable security is less than the amortized cost and evidence indicates that a marketable security’s carrying amount is not recoverable. Unrealized losses are evaluated for impairment under ASC 326, Financial Instruments - Credit Losses, to determine if the impairment is credit-related or noncredit-related. Credit-related impairment is recognized as an allowance on the balance sheet with a corresponding adjustment to earnings, and noncredit-related impairment is recognized in other comprehensive (loss) income, net of taxes. Evidence considered in this assessment includes reasons for the impairment, compliance with our investment policy, the severity of the impairment, collectability of the security, and any adverse conditions specifically related to the security, an industry, or geographic area.

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, 2023. Realized gains and losses are included in other income, net on a specific-identification basis. There were no realized gains or losses on marketable securities for the years ended December 31, 2023 and 2022, respectively.

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, 2023. 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, 2023. 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. We monitor the financial performance and creditworthiness of our customers so that we can properly assess and respond to changes in their credit profile. We reserve against these receivables for estimated losses that may arise from a customer’s inability to pay. Amounts determined to be uncollectible are charged or written-off against the reserve. At December 31, 2023 and 2022 there was no allowance for credit losses.

Concentration of Credit Risk

Financial instruments which potentially subject us to credit risk consist primarily of cash, cash equivalents, and marketable securities. We hold these investments in highly rated financial institutions, and, by policy, limit the amount of credit exposure at any one financial institution. These investments at times exceed federally insured limits. We have not experienced any credit losses in such accounts and do not believe we are exposed to any significant credit risk on the funds. We have no off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts, or other hedging arrangements.

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.

There was no revenue in fiscal year 2023 due to the wind down of our computational biology professional services and completion of existing customer services contracts during the year ended December 31, 2022. As of December 31, 2023, there were no remaining accounts receivable or customers.

The following customer comprised 10% or more of the Company’s total accounts receivable or revenues as of or for the period ended December 31, 2022:


	Year Ended December 31, 2022				As of December 31, 2022
	Revenue		% of Total		Accounts Receivable		% of Total
Customer #1	$	299,890	94.6	%	$	11,275	90.8	%

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.


Asset Class						Estimated 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 leases 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 from Contracts with Customers, 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

With respect to the Company's historical services business (which has ceased), the Company’s contracts generally consist of the promise to provide computational biology professional services to pharmaceutical and biotechnology companies, which the Company 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 services 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 services 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.

In fiscal year 2023, the Company did not enter or perform any services contracts.

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, 2023 and 2022, the Company had uncertain tax positions of $699,527 and $541,067, respectively. 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 inside and outside of 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 Income (Loss)

Comprehensive income (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, and other third-party charges related to ongoing equity financings as deferred offering costs until fully consummated. These costs are to be recorded as a reduction of the offering’s proceeds which are recorded to additional paid-in capital within stockholders’ equity. Should the Company choose not to initiate such financing, the deferred offering costs would be immediately expensed as operating expenses.

On August 10, 2022, the Company entered into an Equity Distribution Agreement (the “Sales Agreement”) with Piper Sandler & Co, (the “Sales Agent”) to sell shares of the Company’s common stock, par value $0.001 per share, with aggregate gross sales proceeds of up to $50 million, from time to time, through an “at the market” equity offering program. Deferred offering costs associated with the Sales Agreement are reclassified to additional paid in capital on a pro-rata basis when the Company completes offerings under the Sales Agreement. Any remaining deferred costs will be expensed to the statement of operations should the planned offering be abandoned. The Company had approximately $0.3 million and $0.3 million of deferred offering costs as of December 31, 2023 and 2022, respectively.

Net Income (Loss) per Share

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, 2023 and 2022.

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 non-employees, 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, which 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.

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 prior to the IPO was 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 included estimates and assumptions that required the Company’s judgment. These estimates and assumptions included 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 represented management’s best estimates, which involved 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 Company’s market capitalization has declined, which may be an indicator of impairment. The Company will continue to assess the impact of its market capitalization and any other indicators of potential impairment. It is possible that if the Company’s market capitalization decline is more than temporary, or if other indicators of impairment are identified, an interim impairment analysis may be necessary, which could result in an impairment of goodwill, intangible assets and other long-lived assets in future periods.

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 during the years ended December 31, 2023 or 2022.

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 (the "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, the Company will not be required to adopt certain 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 No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Statements ("ASU 2016-13"). 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 2016-13 became effective for the Company on January 1, 2023. The Company adopted this effective January 1, 2023 and there was no material impact to the consolidated financial statements.

In January 2017, the FASB issued ASU No. 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 adopted this effective January 1, 2023 and there was no impact to the consolidated financial statements.

In November 2023, the FASB issued Accounting Standards Update ASU No. 2023-07, Segment Reporting (Topic 280) (“ASU 2023-07”). The guidance in ASU 2023-07 expands prior reportable segment disclosure requirements by requiring entities to disclose significant segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and details of how the CODM uses financial reporting to assess their segment’s performance. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023, with early adoption permitted. The Company is currently evaluating the impact that the adoption of ASU 2023-07 may have on its consolidated financial statements.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). The guidance in ASU 2023-09 improves the transparency of income tax disclosures by greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The standard is effective for public companies for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact that the adoption of ASU 2023-09 may have on its consolidated financial statements.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Operating Leases

In October 2020, the Company entered into an office lease (“Via Frontera 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. In January 2022, the Company exercised its option to terminate the Via Frontera Lease 20 months early. The Company subsequently entered into a sublease of the Via Frontera Lease, the term of which commenced in March 2022. The lease and sublease terminated on October 1, 2023. The lease termination was accounted for as a lease modification which reduces the term of the existing lease and the Company adjusted the value of its right-of-use asset and operating lease liability by $347,739 using an incremental borrowing rate of approximately 6%. The sublease income was accounted for as a reduction of rent expense in the statement of operations.

The modification is reflected as a non-cash operating activity in the statement of cash flows for the year ended December 31, 2023.

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, the second was for a 6,100 square feet of office and laboratory space under a lease that terminated on December 31, 2022 (and that was not renewed), and the third is for a lease for 4,760 square feet of office and laboratory space under a lease that terminates on March 31, 2024. As a result, the Company recorded right-to-use assets and lease liabilities of $4,824,700 on the acquisition date of December 22, 2021.

The Company currently also leases office space in Cambridge, Massachusetts and New York, New York, pursuant to short-term arrangements. The Cambridge lease is on a month-to-month basis, requiring one month’s notice before termination. The New York lease was renewed on January 16, 2024 to extend the lease term until August 31, 2024. The Company also previously leased office space in San Francisco, California, pursuant to a short-term rental arrangement with a lease term that ended on July 31, 2023 and the Company chose not to renew. These lease agreements include or included payments for lease and non-lease components. The Company has elected to not separate such components and these payments were recognized as rent expense.

As of December 31, 2023, total future minimum lease payments for its short-term leases in Cambridge, Massachusetts and New York, New York were $54,340 due in 2024.

Future minimum lease payments for operating leases with initial or remaining terms in excess of one year at December 31, 2023 were as follows:


	Amount
2024	$	732,546
2025	739,689
2026	761,877
2027	784,737
2028	808,278
Thereafter	2,874,231
Total future lease payments	6,701,358
Less: Imputed interest	2,238,399
Total lease liabilities	$	4,462,959
Current portion lease liabilities	300,107
Lease liabilities, noncurrent	4,162,852
Total lease liabilities	$	4,462,959

Quantitative information regarding the Company’s leases for the year ended December 31, 2023 and 2022 is as follows:


	December 31, 2023			December 31, 2022
Lease costs:
Operating lease cost	$	876,795		$	1,002,989
Short-term lease cost	210,902			282,775
Sublease income	(147,930)			(178,620)
Total lease costs	$	939,767		$	1,107,144
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	843,463		$	609,790
Operating cash flows from short-term leases	210,902			282,775
	$	1,054,365		$	892,565
Weighted-average remaining lease term - operating leases	8.32 years			9.16 years
Weighted-average discount rate - operating leases	10.0		%	9.1		%

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 product candidates 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 contract research organizations for clinical trials, with contract manufacturing organizations for clinical supplies, and with other vendors for preclinical studies, supplies and other services for the Company's operating purposes. These contracts generally provide for termination with a 30-day notice.

Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Securities

Marketable securities consisted of the following as of December 31, 2023 and 2022, respectively:


	December 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets:
Current:
U.S. Treasuries	$	2,989,460	$	430	$	—	$	2,989,890
Government securities	15,342,582		888		(2,902)		15,340,568
Commercial Paper	7,928,122		1,301		(13)		7,929,410
Total marketable securities	$	26,260,164	$	2,619	$	(2,915)	$	26,259,868


	December 31, 2022
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets:
Current:
U.S. Treasuries	$	12,986,424	$	—	$	(25,649)	$	12,960,775
Government securities	8,084,107		1,099		(12,021)		8,073,185
Commercial Paper	11,847,902		6,847		(739)		11,854,010
Total marketable securities	32,918,433		7,946		(38,409)		32,887,970

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, 2023	Dec. 31, 2022
Numerator:
Net loss	$ (53,471,622)	$ (50,513,568)
Denominator - basic and diluted:
Weighted-average common shares outstanding, basic (in shares)	28,416,558	26,386,864
Weighted-average common shares outstanding, diluted (in shares)	28,416,558	26,386,864
Earnings per share:
Net loss per share, basic (in dollars per share)	$ (1.88)	$ (1.91)
Net loss per share, diluted (in dollars per share)	$ (1.88)	$ (1.91)

- Definition

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

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+ Details

Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stockholders

Basic and diluted net loss per share attributable to common stockholders was calculated at December 31, 2023 and December 31, 2022 as follows:


	Year Ended December 31,
	2023		2022

Numerator:
Net loss	$	(53,471,622)	$	(50,513,568)
Denominator - basic and diluted:
Weighted-average common shares outstanding, basic and diluted	28,416,558		26,386,864
Net loss per share - basic and diluted	$	(1.88)	$	(1.91)

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, 2023 and December 31, 2022:


	2023	2022

Options to purchase common stock	5,496,397	3,559,041
Total shares of common stock equivalents	5,496,397	3,559,041

Commitments and Contingencies - Maturities of the lease liabilities due (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
2024	$ 732,546
2025	739,689
2026	761,877
2027	784,737
2028	808,278
Thereafter	2,874,231
Total future lease payments	6,701,358
Less: Imputed interest	2,238,399
Total lease liabilities	4,462,959
Current portion lease liabilities	300,107	$ 378,723
Lease liabilities, noncurrent	$ 4,162,852	$ 4,462,959

Marketable Securities - Schedule of Marketable Securities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Marketable securities, current
Amortized Cost, Current	$ 26,260,164	$ 32,918,433
Unrealized Gains, Current	2,619	7,946
Unrealized Losses, Current	(2,915)	(38,409)
Fair Value, Current	26,259,868	32,887,970
U.S. Treasuries
Marketable securities, current
Amortized Cost, Current	2,989,460	12,986,424
Unrealized Gains, Current	430	0
Unrealized Losses, Current	0	(25,649)
Fair Value, Current	2,989,890	12,960,775
Government securities
Marketable securities, current
Amortized Cost, Current	15,342,582	8,084,107
Unrealized Gains, Current	888	1,099
Unrealized Losses, Current	(2,902)	(12,021)
Fair Value, Current	15,340,568	8,073,185
Commercial Paper
Marketable securities, current
Amortized Cost, Current	7,928,122	11,847,902
Unrealized Gains, Current	1,301	6,847
Unrealized Losses, Current	(13)	(739)
Fair Value, Current	$ 7,929,410	$ 11,854,010

Income Taxes - Unrecognized tax benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 541,067	$ 380,902
Increase due to current year tax position	158,460	160,165
Ending balance	$ 699,527	$ 541,067

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Concentration of Credit Risk

The following customer comprised 10% or more of the Company’s total accounts receivable or revenues as of or for the period ended December 31, 2022:


	Year Ended December 31, 2022				As of December 31, 2022
	Revenue		% of Total		Accounts Receivable		% of Total
Customer #1	$	299,890	94.6	%	$	11,275	90.8	%

Schedule of Estimated Useful Lives of Property, Plant, and Equipment

Depreciation is calculated using the straight-line method once assets are placed in service.


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

Property and equipment, net consisted of the following:


	December 31, 2023		December 31, 2022

Computer equipment	$	550,861	$	437,346
Furniture and fixtures	98,628		91,317
Lab equipment	1,180,445		970,374
Leasehold improvements	298,941		288,908
Total	2,128,875		1,787,945
Accumulated depreciation	(728,293)		(418,337)
Property and equipment, net	$	1,400,582	$	1,369,608

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 59,405,817	$ 72,636,886
Marketable securities, current	26,259,868	32,887,970
Accounts receivable	0	12,417
Prepaids and other current assets	3,417,984	3,209,536
Total current assets	89,083,669	108,746,809
Property and equipment, net	1,400,582	1,369,608
Goodwill	6,690,431	6,690,431
Intangible asset, net	379,680	408,947
Right-of-use assets, net	3,995,730	4,407,785
Other assets	1,034,446	743,703
Total assets	102,584,538	122,367,283
Current liabilities:
Accounts payable	2,111,666	3,154,557
Accrued expenses	5,173,960	4,500,993
Other liabilities	259,770	19,796
Lease liabilities	300,107	378,723
Total current liabilities	7,845,503	8,054,069
Long-term liabilities:
Lease liabilities, net of current portion	4,162,852	4,462,959
Total liabilities	12,008,355	12,517,028
Commitments and contingencies (Note 11)
Stockholders’ equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2023 and December 31, 2022; 0 shares issued or outstanding at December 31, 2023 and December 31, 2022	0	0
Additional paid-in capital	253,806,267	219,640,912
Accumulated other comprehensive loss	(778)	(30,120)
Accumulated deficit	(163,258,578)	(109,786,956)
Total stockholders' equity	90,576,183	109,850,255
Total liabilities and stockholders' equity	102,584,538	122,367,283
Class A Common Stock
Stockholders’ equity:
Common stock	29,272	26,419
Class B Common Stock
Stockholders’ equity:
Common stock	$ 0	$ 0

COVER PAGE - USD ($) $ in Millions	12 Months Ended
COVER PAGE - USD ($) $ in Millions	Dec. 31, 2023	Feb. 23, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40675
Entity Registrant Name	Immuneering Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1976972
Entity Address, Address Line One	245 Main St
Entity Address, Address Line Two	Second Floor
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02142
City Area Code	617
Local Phone Number	500-8080
Title of 12(b) Security	Class A common Stock, par value $0.001 per share
Trading Symbol	IMRX
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 239.0
Documents Incorporated by Reference	Portions of the registrant’s Definitive Proxy Statement relating to the registrant’s 2024 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission within 120 days of the end of the registrant’s fiscal year ended December 31, 2023 are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein.
Entity Central Index Key	0001790340
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		29,283,272
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0

Fair Value Measurements - Schedule of Cash Equivalents and Marketable Securities (Details) - Recurring - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Assets:
Total cash equivalents	$ 59,087,308	$ 23,110,492
Total marketable securities	26,259,868	32,887,970
Total cash equivalents and marketable securities	85,347,176	55,998,462
U.S. Treasuries
Assets:
Total cash equivalents	3,488,205
Total marketable securities	2,989,890	12,960,775
Money market
Assets:
Total cash equivalents	50,122,883	19,118,892
Commercial paper
Assets:
Total cash equivalents	2,494,670	1,249,575
Total marketable securities	7,929,410	11,854,010
Government securities
Assets:
Total cash equivalents	2,981,550	2,742,025
Total marketable securities	15,340,568	8,073,185
Level 1
Assets:
Total cash equivalents	53,611,088	19,118,892
Total marketable securities	2,989,890	12,960,775
Total cash equivalents and marketable securities	56,600,978	32,079,667
Level 1 \| U.S. Treasuries
Assets:
Total cash equivalents	3,488,205
Total marketable securities	2,989,890	12,960,775
Level 1 \| Money market
Assets:
Total cash equivalents	50,122,883	19,118,892
Level 1 \| Commercial paper
Assets:
Total cash equivalents	0	0
Total marketable securities	0	0
Level 1 \| Government securities
Assets:
Total cash equivalents	0	0
Total marketable securities	0	0
Level 2
Assets:
Total cash equivalents	5,476,220	3,991,600
Total marketable securities	23,269,978	19,927,195
Total cash equivalents and marketable securities	28,746,198	23,918,795
Level 2 \| U.S. Treasuries
Assets:
Total cash equivalents	0
Total marketable securities	0	0
Level 2 \| Money market
Assets:
Total cash equivalents	0	0
Level 2 \| Commercial paper
Assets:
Total cash equivalents	2,494,670	1,249,575
Total marketable securities	7,929,410	11,854,010
Level 2 \| Government securities
Assets:
Total cash equivalents	2,981,550	2,742,025
Total marketable securities	15,340,568	8,073,185
Level 3
Assets:
Total cash equivalents	0	0
Total marketable securities	0	0
Total cash equivalents and marketable securities	0	0
Level 3 \| U.S. Treasuries
Assets:
Total cash equivalents	0
Total marketable securities	0	0
Level 3 \| Money market
Assets:
Total cash equivalents	0	0
Level 3 \| Commercial paper
Assets:
Total cash equivalents	0	0
Total marketable securities	0	0
Level 3 \| Government securities
Assets:
Total cash equivalents	0	0
Total marketable securities	$ 0	$ 0

Property and Equipment, net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, net

Property and equipment, net consisted of the following:


	December 31, 2023		December 31, 2022

Computer equipment	$	550,861	$	437,346
Furniture and fixtures	98,628		91,317
Lab equipment	1,180,445		970,374
Leasehold improvements	298,941		288,908
Total	2,128,875		1,787,945
Accumulated depreciation	(728,293)		(418,337)
Property and equipment, net	$	1,400,582	$	1,369,608

Depreciation expense totaled $322,816 and $247,199 for the years ended December 31, 2023 and 2022, respectively.

Income Taxes - Net deferred tax assets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Stock-based compensation expense	$ 1,387,849	$ 1,059,866
Research expenses	16,282,709	6,758,291
Unrealized losses	172	10,419
Accrued Bonus	602,121	0
R&D credit carryforward	6,295,756	4,146,850
NOL carryforward	19,095,948	20,842,910
Gross deferred tax assets	43,664,555	32,818,336
Valuation allowance	(43,274,909)	(32,039,948)
Net deferred tax assets	389,646	778,388
Net deferred tax liabilities:
Prepaid expenses deducted for tax	(173,497)	(353,224)
Right of use	(103,034)	(117,445)
Tax depreciation in excess of book	(113,115)	(307,719)
Total deferred tax liabilities	(389,646)	(778,388)
Net deferred taxes	$ 0	$ 0

Net Loss Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders

Basic and diluted net loss per share attributable to common stockholders was calculated at December 31, 2023 and December 31, 2022 as follows:


	Year Ended December 31,
	2023		2022

Numerator:
Net loss	$	(53,471,622)	$	(50,513,568)
Denominator - basic and diluted:
Weighted-average common shares outstanding, basic and diluted	28,416,558		26,386,864
Net loss per share - basic and diluted	$	(1.88)	$	(1.91)

Schedule of Potentially Dilutive Securities that have been Excluded from the Calculation of Diluted Net Loss Per Share


	2023	2022

Options to purchase common stock	5,496,397	3,559,041
Total shares of common stock equivalents	5,496,397	3,559,041

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - USD ($)		12 Months Ended
	Apr. 20, 2023	Dec. 31, 2023
Underwriting Offering
Sale of stock, proceeds before deducting offering costs payable	$ 203,768	$ 203,768

Fair Value Measurements

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

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, 2023 and 2022, respectively:


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
U.S. Treasuries	$	3,488,205	$	—	$	—	$	3,488,205
Money market	50,122,883		—		$	—	50,122,883
Commercial paper	—		2,494,670		—		2,494,670
Government securities	—		2,981,550		—		2,981,550
Total cash equivalents	53,611,088		5,476,220		—		59,087,308

Marketable securities:
U.S. Treasuries	$	2,989,890	$	—	$	—	$	2,989,890
Government securities	—		15,340,568		—		15,340,568
Commercial paper	—		7,929,410		—		7,929,410
Total marketable securities	2,989,890		23,269,978		—		26,259,868
Total cash equivalents and marketable securities	$	56,600,978	$	28,746,198	$	—	$	85,347,176


	December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Money market	$	19,118,892	$	—	$	—	$	19,118,892
Government securities	—		2,742,025		—		2,742,025
Commercial paper	—		1,249,575		—		1,249,575
Total cash equivalents	19,118,892		3,991,600		—		23,110,492

Marketable securities:
U.S. Treasuries	$	12,960,775	$	—	$	—	$	12,960,775
Government securities	—		8,073,185		—		8,073,185
Commercial paper	—		11,854,010		—		11,854,010
Total marketable securities	12,960,775		19,927,195		—		32,887,970
Total cash equivalents and marketable securities	$	32,079,667	$	23,918,795	$	—	$	55,998,462

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 years ended December 31, 2023 and 2022.

- 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

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following:


	December 31, 2023		December 31, 2022

Accrued professional services	$	297,160	$	297,234
Accrued employee expenses	3,625,911		3,631,082
Accrued research and development expenses	1,146,398		425,846
Accrued other	104,491		146,831
Total	$	5,173,960	$	4,500,993

Net Loss Per Share Attributable to Common Stockholders - Antidilutive effect (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares of common stock equivalents (in shares)	5,496,397	3,559,041
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares of common stock equivalents (in shares)	5,496,397	3,559,041

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions in its Application of the Black-scholes Option Pricing Model for Grants

The Company used the following assumptions in its application of the Black-Scholes option pricing model for grants during the year ended December 31, 2023 and 2022:


	Year Ended December 31,
	2023	2022

Weighted-average risk-free interest rate	3.46% - 4.80%	1.35% - 4.15%
Expected term (in years)	5.00 - 10.00	5.00 - 10.00
Expected dividend yield	0%	0%
Expected volatility	64.86% - 70.50%	64.67% - 78.12%

Summary of Stock Option Activity

The following table summarizes the stock option activity during the year ended December 31, 2023:


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

Outstanding as of December 31, 2022	3,559,041	$	7.36
Granted	2,411,610	5.41
Exercised	(125,624)	3.54
Cancelled	(348,630)	8.10
Outstanding as December 31, 2023	5,496,397	$	6.54	7.33	$	11,556,739

Vested and exercisable at December 31, 2023	2,874,152	$	5.99	6.16	$	7,377,923

Summary of Recognized Share-based Compensation Expense Recognized

For the years ended December 31, 2023 and 2022, the Company recognized share-based compensation expense on the accompanying consolidated statements of operations as follows:


	Year Ended December 31,
	2023		2022

Cost of revenue	$	—	$	9,703
Research and development	2,668,710		1,978,169
General and administrative	3,058,425		2,076,574
Total	$	5,727,135	$	4,064,446

Pay vs Performance Disclosure - USD ($)	12 Months Ended
Pay vs Performance Disclosure - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net loss	$ (53,471,622)	$ (50,513,568)

- Definition

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

+ References

+ Details

Stock-Based Compensation - Narrative (Details) - USD ($)		12 Months Ended
	Jul. 23, 2021	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		2,411,610	1,227,810
Stock-based compensation expense		$ 5,727,135	$ 4,064,446
Grant date weighted average fair value		$ 5.41	$ 9.83
Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Shares reserved for future issuance (in shares)		2,825,173
Stock-based compensation expense		$ 5,727,135	$ 4,064,446
Compensation expense remaining to be recognized		$ 11,188,798
Compensation expense recognized over a weighted-average period		2 years 6 months 10 days
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)		1,546,979
2021 Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)	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
2021 ESPP \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)	250,000	777,389
Aggregate number of shares outstanding (as a percent)	1.00%
Granted (in shares)		0
2021 ESPP \| Maximum \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	3,340,000

Stock-Based Compensation - Stock option activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of Options
Outstanding at the beginning (in shares)	3,559,041
Granted (in shares)	2,411,610	1,227,810
Exercised (in shares)	(125,624)
Cancelled (in shares)	(348,630)
Outstanding at the end (in shares)	5,496,397	3,559,041
Vested and exercisable (in shares)	2,874,152
Weighted- Average Exercise Price per Share
Weighted Average Exercise Price per Share Outstanding at the beginning (in dollars per share)	$ 7.36
Weighted Average Exercise Price per Share Granted (in dollars per share)	5.41
Weighted Average Exercise Price per Share Exercised (in dollars per share)	3.54
Weighted Average Exercise Price per Share Cancelled (in dollars per share)	8.10
Weighted Average Exercise Price per Share Outstanding at the end (in dollars per share)	6.54	$ 7.36
Weighted Average Exercise Price per Share Vested and Exercisable (in dollars per share)	$ 5.99
Weighted Average Remaining Contractual Term (in Years)
Weighted Average Remaining Contractual Term (in years)	7 years 3 months 29 days
Weighted Average Remaining Contractual Term, Vested and exercisable (in Years)	6 years 1 month 28 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value Outstanding	$ 11,556,739
Aggregate Intrinsic Value Vested and exercisable	$ 7,377,923

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Federal Statutory Rate to the Net Loss and the Effective Income Tax Rate

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


	2023		2022
Statutory federal income tax rate	21.0	%	21.0	%
State tax, net of federal benefit	(3.2)	%	6.1	%
Permanent differences	(0.9)	%	(0.9)	%
Federal research and development credits	4.1	%	2.3	%
State research and development credits	—	%	0.2	%
Uncertain tax positions	(0.4)	%	(0.3)	%
Other differences	0.1	%	0.9	%
Change in valuation allowance	(20.7)	%	(29.3)	%
Effective income tax rate	—	%	—	%

Schedule of Net Deferred Tax Assets

As of December 31, 2023 and 2022, the components and tax effects of each type of item that gave rise to the net deferred tax assets were as follows:


	2023		2022
Deferred tax assets:
Stock-based compensation expense	$	1,387,849	$	1,059,866
Research expenses	16,282,709		6,758,291
Unrealized losses	172		10,419
Accrued Bonus	602,121		—
R&D credit carryforward	6,295,756		4,146,850
NOL carryforward	19,095,948		20,842,910
Gross deferred tax assets	43,664,555		32,818,336
Valuation allowance	(43,274,909)		(32,039,948)
Net deferred tax assets	389,646		778,388
Net deferred tax liabilities:
Prepaid expenses deducted for tax	(173,497)		(353,224)
Right of use	(103,034)		(117,445)
Tax depreciation in excess of book	(113,115)		(307,719)
Total deferred tax liabilities	(389,646)		(778,388)
Net deferred taxes	$	—	$	—

Schedule of Unrecognized Tax Benefits

As of December 31, 2023 and December 31, 2022, unrecognized tax benefits were as follows:


	2023		2022
Beginning balance	$	541,067	$	380,902
Increase due to current year tax position	158,460		160,165
Ending balance	$	699,527	$	541,067

Property and Equipment, net - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 322,816	$ 247,199

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Maturities of the Lease Liabilities Due

Future minimum lease payments for operating leases with initial or remaining terms in excess of one year at December 31, 2023 were as follows:


	Amount
2024	$	732,546
2025	739,689
2026	761,877
2027	784,737
2028	808,278
Thereafter	2,874,231
Total future lease payments	6,701,358
Less: Imputed interest	2,238,399
Total lease liabilities	$	4,462,959
Current portion lease liabilities	300,107
Lease liabilities, noncurrent	4,162,852
Total lease liabilities	$	4,462,959

Schedule of Quantitative Information Regarding the Company's Leases

Quantitative information regarding the Company’s leases for the year ended December 31, 2023 and 2022 is as follows:


	December 31, 2023			December 31, 2022
Lease costs:
Operating lease cost	$	876,795		$	1,002,989
Short-term lease cost	210,902			282,775
Sublease income	(147,930)			(178,620)
Total lease costs	$	939,767		$	1,107,144
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	843,463		$	609,790
Operating cash flows from short-term leases	210,902			282,775
	$	1,054,365		$	892,565
Weighted-average remaining lease term - operating leases	8.32 years			9.16 years
Weighted-average discount rate - operating leases	10.0		%	9.1		%

Stock-Based Compensation - Assumptions (Details)	12 Months Ended
Stock-Based Compensation - Assumptions (Details)	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average risk-free interest rate, minimum	3.46%	1.35%
Weighted-average risk-free interest rate, maximum	4.80%	4.15%
Expected dividend yield	0.00%	0.00%
Expected volatility, minimum	64.86%	64.67%
Expected volatility, maximum	70.50%	78.12%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years	5 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	10 years	10 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Property and Equipment, net - Schedule of Property and Equipment, Net (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property and Equipment, net
Property and equipment, gross	$ 2,128,875	$ 1,787,945
Accumulated depreciation	(728,293)	(418,337)
Property and equipment, net	1,400,582	1,369,608
Computer equipment
Property and Equipment, net
Property and equipment, gross	550,861	437,346
Furniture and fixtures
Property and Equipment, net
Property and equipment, gross	98,628	91,317
Lab equipment
Property and Equipment, net
Property and equipment, gross	1,180,445	970,374
Leasehold improvements
Property and Equipment, net
Property and equipment, gross	$ 298,941	$ 288,908