NexImmune (NEXI) 10-Q 10 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-40045
Entity Registrant Name	NEXIMMUNE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	42-2518457
Entity Address, Address Line One	9119 Gaither Road
Entity Address, City or Town	Gaithersburg,
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20877
City Area Code	301
Local Phone Number	825-9810
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	NEXI
Security Exchange Name	NASDAQ
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,078,451
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Entity Central Index Key	0001538210

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 16,281,020	$ 34,642,340
Restricted cash	55,000	55,000
Prepaid expenses and other current assets	2,163,990	2,671,411
Total current assets	18,500,010	37,368,751
Property and equipment, net	3,970,516	4,459,071
Operating lease right-of-use assets	703,217	967,032
Other non-current assets	300,205	264,970
Total assets	23,473,948	43,059,824
Current liabilities:
Accounts payable	582,510	2,377,374
Accrued expenses	5,139,784	7,357,153
Operating lease liabilities, current	545,285	599,047
Total current liabilities	6,267,579	10,333,574
Operating lease liabilities, net of current portion	203,887	425,766
Total liabilities	6,471,466	10,759,340
Commitments and contingencies
Stockholders’ equity
Common Stock, $0.0001 par value, 250,000,000 shares authorized as of June 30, 2023 and December 31, 2022; 26,078,451 shares issued and outstanding as of June 30, 2023 and December 31, 2022	2,608	2,608
Additional paid-in-capital	224,381,109	222,547,530
Accumulated deficit	(207,381,235)	(190,249,654)
Total stockholders’ equity	17,002,482	32,300,484
Total liabilities and stockholders’ equity	$ 23,473,948	$ 43,059,824

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Authorized common stock (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	26,078,451	26,078,451
Common stock, shares outstanding (in shares)	26,078,451	26,078,451

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating expenses:
Research and development	$ 4,880,338	$ 11,837,519	$ 11,004,382	$ 22,286,362
General and administrative	2,904,321	4,088,445	6,605,686	8,693,124
Total operating expenses	7,784,659	15,925,964	17,610,068	30,979,486
Loss from operations	(7,784,659)	(15,925,964)	(17,610,068)	(30,979,486)
Other income (expense):
Interest income	223,321	84,221	498,059	117,314
Other expense	(5,166)	(19,046)	(19,572)	(21,622)
Other income, net	218,155	65,175	478,487	95,692
Net loss	$ (7,566,504)	$ (15,860,789)	$ (17,131,581)	$ (30,883,794)
Basic net loss per common share (in dollars per share)	$ (0.29)	$ (0.69)	$ (0.66)	$ (1.35)
Diluted net loss per common share (in dollars per share)	$ (0.29)	$ (0.69)	$ (0.66)	$ (1.35)
Basic weighted average number of common shares outstanding (in shares)	26,078,451	22,871,369	26,078,451	22,854,311
Diluted weighted-average number of common shares outstanding (in shares)	26,078,451	22,871,369	26,078,451	22,854,311

STATEMENTS OF COMPREHENSIVE LOS

STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (7,566,504)	$ (15,860,789)	$ (17,131,581)	$ (30,883,794)
Other comprehensive loss:
Unrealized gain (loss) on available-for-sale marketable securities, net of tax	0	11,243	0	(12,347)
Comprehensive loss	$ (7,566,504)	$ (15,849,546)	$ (17,131,581)	$ (30,896,141)

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income/ (Loss)
Balance (in shares) at Dec. 31, 2021		22,828,904
Balance at Dec. 31, 2021	$ 83,760,667	$ 2,283	$ 211,498,827	$ (127,743,455)	$ 3,012
Exercise of stock options (in shares)		12,890
Exercise of stock options	33,255	$ 1	33,254
Cashless exercise of stock options (in shares)		51,757
Cashless exercise of stock options	0	$ 5	(5)
Stock-based compensation	2,954,900		2,954,900
Change in unrealized gain available-for-sale securities	(12,347)				(12,347)
Net loss	(30,883,794)			(30,883,794)
Balance (in shares) at Jun. 30, 2022		22,893,551
Balance at Jun. 30, 2022	55,852,681	$ 2,289	214,486,976	(158,627,249)	(9,335)
Balance (in shares) at Mar. 31, 2022		22,841,794
Balance at Mar. 31, 2022	70,393,179	$ 2,284	213,177,933	(142,766,460)	(20,578)
Cashless exercise of stock options (in shares)		51,757
Cashless exercise of stock options	0	$ 5	(5)
Stock-based compensation	1,309,048		1,309,048
Change in unrealized gain available-for-sale securities	11,243				11,243
Net loss	(15,860,789)			(15,860,789)
Balance (in shares) at Jun. 30, 2022		22,893,551
Balance at Jun. 30, 2022	$ 55,852,681	$ 2,289	214,486,976	(158,627,249)	(9,335)
Balance (in shares) at Dec. 31, 2022	26,078,451	26,078,451
Balance at Dec. 31, 2022	$ 32,300,484	$ 2,608	222,547,530	(190,249,654)	0
Exercise of stock options (in shares)	0
Stock-based compensation	$ 1,833,579		1,833,579
Change in unrealized gain available-for-sale securities	0
Net loss	$ (17,131,581)			(17,131,581)
Balance (in shares) at Jun. 30, 2023	26,078,451	26,078,451
Balance at Jun. 30, 2023	$ 17,002,482	$ 2,608	224,381,109	(207,381,235)	0
Balance (in shares) at Mar. 31, 2023		26,078,451
Balance at Mar. 31, 2023	23,577,853	$ 2,608	223,389,976	(199,814,731)	0
Stock-based compensation	991,133		991,133
Change in unrealized gain available-for-sale securities	0
Net loss	$ (7,566,504)			(7,566,504)
Balance (in shares) at Jun. 30, 2023	26,078,451	26,078,451
Balance at Jun. 30, 2023	$ 17,002,482	$ 2,608	$ 224,381,109	$ (207,381,235)	$ 0

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net loss	$ (17,131,581)	$ (30,883,794)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	530,922	469,829
Accretion income on available-for-sale marketable securities, net	0	5,229
Loss on asset disposal	0	5,145
Stock-based compensation	1,833,579	2,954,900
Non-cash lease expense	263,815	245,917
Changes in operating assets and liabilities:
Prepaid expenses and other assets	472,188	(1,782,778)
Accounts payable	(1,794,864)	286,999
Accrued expenses	(2,211,999)	732,331
Operating lease liabilities	(275,641)	(233,292)
Net cash used in operating activities	(18,313,581)	(28,199,514)
Cash flows from investing activities
Purchase of property and equipment	(47,739)	(468,426)
Purchase of marketable securities	0	(21,509,940)
Proceeds from maturities of available-for-sale marketable securities	0	59,000,000
Proceeds from redemption of available-for-sale marketable securities	0	1,500,000
Net cash (used in) provided by investing activities	(47,739)	38,521,634
Cash flows from financing activities
Proceeds from the exercise of stock options	0	33,255
Net cash provided by financing activities	0	33,255
Net (decrease) increase in cash, cash equivalents and restricted cash	(18,361,320)	10,355,375
Cash, cash equivalents and restricted cash at beginning of period	34,697,340	30,393,852
Cash, cash equivalents and restricted cash at end of period	16,336,020	40,749,227
Supplemental disclosure of noncash investing and financing activities:
Property and equipment purchases included in accounts payable and accrued expenses	$ 0	$ 375,118

Nature of the Business

Nature of the Business	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business	Nature of the Business NexImmune, Inc. (“Company,” “we,” “us” or “NexImmune”), a Delaware corporation headquartered in Gaithersburg, Maryland, was incorporated on June 7, 2011. The Company is an emerging biopharmaceutical company advancing a new generation of immunotherapies based on its proprietary Artificial Immune Modulation ("AIM") technology. The AIM nanotechnology platform, originally developed at Johns Hopkins University, is the foundation for an innovative approach to immunotherapy in which the body’s own immune system is stimulated to orchestrate a targeted T cell response against a disease. Central to the AIM technology are artificial AIM nanoparticles, which act as synthetic dendritic cells. These AIM nanoparticles can be programmed to present specific antigens to specific T cells orchestrating a highly targeted immune response. These AIM nanoparticles can be rapidly engineered to elicit an immune attack that can be directed toward any foreign substance or cell type in a patient’s body. The Company’s first two product candidates, both for the treatment of different types of cancer, entered clinical trials in 2020. Following a strategic review of the Company's corporate strategy, including with respect to its adoptive cell therapy programs, the Company determined in November 2022 to pause investments in its cell therapy product candidates, NEXI-001, NEXI-002, and NEXI-003. This realignment is designed to reduce costs and reallocate resources towards the AIM INJ preclinical development programs. As part of this strategy, we will focus on developing AIM INJ nanoparticle constructs and modalities for potential clinical evaluation in oncology and autoimmune disorders. The Company is also exploring several external opportunities to continue to advance these programs. Going Concern Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 205-40, Presentation of Financial Statements - Going Concern ("ASC 205-40"), requires management to assess the Company’s ability to continue as a going concern for one year after the date the financial statements are issued. Under ASC 205-40, management has the responsibility to evaluate whether conditions and/or events raise substantial doubt about the Company’s ability to meet future financial obligations as they become due within one year after the date that the financial statements are issued. As required by this standard, management’s evaluation shall initially not take into consideration the potential mitigating effects of management’s plans that have not been fully implemented as of the date the financial statements are issued. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred recurring operating losses and negative cash flows from operations . The financial statements do not include any adjustments relating to the realization of the carrying value of assets or the amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern. As of June 30, 2023, the Company had an accumulated deficit of $207.4 million, negative cash flows from operating activities for the period ended June 30, 2023, and significant ongoing research and development expenses. While we have no outstanding debt and $16.3 million in cash and cash equivalents as of June 30, 2023, the Company expects its negative cash flows from operating activities to continue and thus has determined that its losses and negative cash flows from operations and uncertainty in generating sufficient cash to meet the Company's obligations and sustain the Company's operations raise substantial doubt about the Company’s ability to continue as a going concern for at least one year from the issuance date of these financial statements. As the Company’s research and development activities mature and develop over the next year, the Company will likely require substantial funds to continue such activities, depending upon events that are difficult to predict at this time. In this regard, management plans to raise additional capital through financing activities that may include public offerings and private placements of its common stock, preferred stock offerings, collaborations and licensing arrangements and issuances of debt and convertible debt instruments. In the absence of additional capital, the Company plans to strategically manage its uncommitted spend, execute its priorities and implement cost saving measures to reduce research and development and general and administrative expenditures which could include minimizing staff costs and delaying or terminating manufacturing and clinical trial costs. There are inherent uncertainties associated with fundraising activities and activities to manage the Company’s uncommitted spending and the successful execution of these activities may not be within the Company’s control. There are no assurances that such additional funding will be obtained and that the Company will succeed in its future operations. If the Company cannot successfully raise additional capital, its liquidity, financial condition and business prospects will be materially and adversely affected. The Company is continually looking into further capital planning and the evaluation of strategic alternatives. There is substantial doubt about the Company’s ability to continue as a going concern.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies The accompanying unaudited financial statements were prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the ASC and Accounting Standards Updates (“ASU”) of the FASB. These financial statements should be read in conjunction with the audited financial statements and the accompanying notes to the financial statements contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on March 28, 2023. In management’s opinion, the accompanying financial statements contain all adjustments, including normal, recurring adjustments, necessary to fairly present the financial position as of June 30, 2023 and December 31, 2022, and the statements of operations, statements of comprehensive loss, statements of changes in stockholders’ equity and statements of cash flows for the three and six month periods ended June 30, 2023 and 2022. Interim results are not necessarily indicative of results for an entire year. Recent Accounting Standards and Pronouncements Recently Adopted

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash	6 Months Ended
	Jun. 30, 2023
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash, and Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash The following table presents the Company’s cash, cash equivalents and restricted cash as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Recurring Fair Cash and cash equivalents: Cash $ 1,084,857 $ 2,940,733 Money market funds 15,196,163 23,722,328 Level 1 Fixed income debt securities — 7,979,279 Level 2 Total cash and cash equivalents 16,281,020 34,642,340 Restricted cash 55,000 55,000 Total cash, cash equivalents, and restricted cash $ 16,336,020 $ 34,697,340 The Company considers all investments in highly liquid financial instruments with an original maturity of ninety days or less at the date of purchase to be cash equivalents. Cash equivalents are stated at amortized cost, plus accrued interest, which approximates fair value. Amounts included in restricted cash represent those required as collateral on corporate credit cards.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s financial instruments include cash, cash equivalents, marketable securities, accounts payable and accrued expenses. The fair values of the cash, cash equivalents, accounts payable and accrued expenses approximated their carrying values as of June 30, 2023 and December 31, 2022 due to their short-term maturities. The Company accounts for recurring and nonrecurring fair value measurements in accordance with ASC 820, Fair Value Measurements (“ASC 820”). ASC 820 defines fair value, establishes a fair value hierarchy for assets and liabilities measured at fair value, and requires expanded disclosures about fair value measurements. The ASC hierarchy ranks the quality of reliability of inputs, or assumptions, used in the determination of fair value, and requires assets and liabilities carried at fair value to be classified and disclosed in one of the following three categories: Level 1 - Fair value is determined by using unadjusted quoted prices that are available in active markets for identical assets and liabilities. Level 2 - Fair value is determined by using inputs, other than Level 1 quoted prices that are directly and indirectly observable. Inputs can include quoted prices for similar assets and liabilities in active markets or quoted prices for identical assets and liabilities in inactive markets. Related inputs can also include those used in valuation or other pricing models that can be corroborated by observable market data. Level 3 - Fair value is determined by inputs that are unobservable and not corroborated by market data. Use of these inputs involves significant judgments to be made by a reporting entity. In instances where the determination of the fair value measurement is based on inputs from different levels of fair value hierarchy, the fair value measurement will fall within the lowest level input that is significant to the fair value measurement in its entirety. The Company periodically evaluates financial assets and liabilities subject to fair value measurements to determine the appropriate level at which to classify them each reporting period. This determination requires the Company to make judgments as to the significance of inputs used in determining fair value and where such inputs lie within the ASC 820 hierarchy. There were no Level 3 recurring fair value measurements as of June 30, 2023 and December 31, 2022. The following table represents the Company’s fair value hierarchy for its financial assets measured at fair value on a recurring basis: June 30, 2023 December 31, 2022 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Money market funds $ 15,196,163 $ — $ — $ 23,722,328 $ — $ — Fixed income debt securities — — — — 7,979,279 — $ 15,196,163 $ — $ — $ 23,722,328 $ 7,979,279 $ —

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following at June 30, 2023 and December 31, 2022: June 30, December 31, Prepaid research and development expenses $ 581,951 $ 1,176,491 Prepaid maintenance agreements 295,689 369,606 Prepaid insurance 814,199 403,653 Prepaid other 100,294 245,278 Interest receivable 66,931 74,467 Other current assets 304,926 401,916 Total prepaid expenses and other current assets $ 2,163,990 $ 2,671,411

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consist of the following at June 30, 2023 and December 31, 2022: June 30, December 31, Laboratory equipment $ 6,835,058 $ 6,803,996 Computer equipment and software 529,605 516,974 Furniture and fixtures 47,877 47,877 Leasehold improvements 318,491 319,816 7,731,031 7,688,663 Less accumulated depreciation and amortization (3,760,515) (3,229,592) Total property and equipment, net $ 3,970,516 $ 4,459,071

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses A summary of the components of accrued expenses is as follows as of June 30, 2023 and December 31, 2022: June 30, December 31, Accrued research and development costs $ 2,309,757 $ 3,210,794 Accrued salaries, benefits and related expenses 2,395,730 3,855,797 Accrued professional fees 406,550 267,383 Other accrued expenses 27,747 23,179 Total accrued expenses $ 5,139,784 $ 7,357,153

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Maryland Biotechnology Center Grant The Company entered into a Translational Research Award Agreement effective May 23, 2012 with the Department of Business & Economic Development with the State of Maryland, Maryland Biotechnology Center (“MBC”). The mission of MBC is to integrate entrepreneurial strategies to stimulate the transformation of scientific discovery and intellectual assets into capital formation and business development. Under the agreement and as amended in 2013, MBC provided $325,000 to NexImmune for research on its artificial Antigen Presenting Cell ("aAPC") for cancer immunotherapy. The Company must repay the funds through annual payments calculated at 3% of annual revenues for the preceding year. Payments shall continue for 10 years after the first payment date and may total up to 200% of the total grant amount. The end date of the agreement is defined as January 31, 2024, or when any and all repayments due to MBC have been made. If the Company does not earn any revenue, the grant does not need to be repaid. Through June 30, 2023, no revenue has been recorded, therefore, no payments to MBC are currently due. Johns Hopkins University Exclusive License Agreement The Company entered into an Exclusive License Agreement with Johns Hopkins University (“JHU”) effective June 2011, which was amended and restated in January 2017, referred to as the A&R JHU License Agreement, under which there are license fees, royalties, and milestone payments. As part of the agreement, the Company acquired a perpetual, exclusive license from JHU covering its invention related to Antigen Specific T cells. JHU was also entitled to milestone fees of $75,000 in connection with clinical trial milestones. For the first licensed product or licensed service in the therapeutic field, the Company may be required to pay JHU additional aggregate milestone fees of $1.6 million for clinical and regulatory milestone fees. The Company may be required to pay JHU reduced milestone fees for the second and third licensed products or licensed services in the therapeutic field in connection with clinical and regulatory milestones. In the diagnostic field, the Company may be required to pay JHU aggregate milestone fees of $0.4 million for the first licensed product, or licensed service and reduced milestone fees for the second and third licensed products, or licensed services in connection with regulatory and commercial milestones. The Company may be required to pay JHU aggregate milestone fees of $100,000 for commercial milestones for the first licensed product or licensed service in the non-clinical field. In the aggregate, the Company may be required to pay JHU additional milestone fees of up to $4.2 million for all clinical, regulatory and commercial milestones for all licensed products or licensed services in the therapeutic field, the diagnostic field and the non-clinical field. The Company may also be required to pay royalties in the low to upper mid-single digits on net sales of therapeutic products, diagnostic products and non-clinical products. The Company may also be required to pay royalties in the low to upper single digits on net sales of licensed services in therapeutic products, diagnostic products and non-clinical products . The Company is required to make minimum annual royalty payments of $100,000 to JHU under the A&R JHU License Agreement. The Company may also be required to pay JHU a low double digit percentage not to exceed 15%, of any non-royalty sublicense consideration the Company receives. The Company will record a liability when such events become probable of occurring. The Company has not reached any of the milestones or transacted its first commercial sale as of June 30, 2023. The Company must make minimum royalty payments, which began upon the fourth anniversary of the agreement and upon every anniversary thereafter during the term of the agreement, which offset future royalties per above owed to JHU. The Company has incurred $575,000 in cumulative minimum royalties from inception. Future annual minimum royalties consist of $100,000 due each year during the remaining term of the A&R JHU License Agreement. The Company records milestones, royalties and minimum royalties at the time when payments become probable. During the each of the three and six months ended June 30, 2023 and 2022, the Company incurred $25,000 and $50,000, respectively, related to minimum royalties owed, which is included in research and development expenses on the accompanying statement of operations. The Company has accrued royalties of $100,000 as of June 30, 2023 and $50,000 as of December 31, 2022. Contingencies From time to time, the Company may be subject to various litigation and related matters arising in the ordinary course of business. The Company records a provision for a liability when it believes that it is both probable that a liability has been incurred and the amount can be reasonably estimated. Significant judgment is required to determine both probability and the estimated amount. As of June 30, 2023 and December 31, 2022, the Company was not involved in any material legal proceedings.

Restructuring Activities

Restructuring Activities	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring ActivitiesIn November 2022, the Company announced that, following a strategic review of its pipeline, indications, timelines and cash position, it implemented a strategic realignment initiative, which was designed to reduce costs and reallocate resources towards its AIM INJ preclinical development programs. The Company initiated a workforce reduction plan to reduce headcount by 30%, primarily affecting the clinical development, manufacturing and administrative staff that had been needed to support the AIM ACT adoptive cell therapy clinical programs. The plan reduced the Company’s workforce from 74 full-time employees to approximately 50 full-time employees. The Company incurred $0.7 million of costs in connection with the reduction in workforce related to severance pay and other related termination benefits. These one-time employee termination benefits are comprised of severance, benefits and related costs, all of which are expected to result in cash expenditures. The following table summarizes the charges related to the restructuring activities as of June 30, 2023. Restructuring expenses during the year ended December 31, 2022 was $0.5 million. The Company expects to complete the restructuring in the third quarter of 2023. Accrued Restructuring Expenses Accrued Restructuring Expenses December 31, 2022 Expenses Less: Payments June 30, 2023 Severance, benefits and related costs due to workforce reduction $ 382,389 $ 146,772 $ (508,559) $ 20,602 Totals $ 382,389 $ 146,772 $ (508,559) $ 20,602

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Issuances of Common Stock On March 9, 2022, the Company filed a prospectus (the “Prospectus”) with the SEC pursuant to which we disclosed that we may offer and sell, from time to time in one or more offerings, any combination of common stock, preferred stock, debt securities, warrants, rights or units having a maximum aggregate offering price of $200 million. On June 17, 2022, the Company filed a prospectus supplement (the “Prospectus Supplement”) with the SEC, which described the terms of the Controlled Equity Offering Sales Agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co. and BTIG, LLC (together, the “Agents”), pursuant to which the Company may offer and sell shares of its common stock, $0.0001 par value per share, at an aggregate offering price of up to $50.0 million (the "Shares") from time to time through the Agents (the "Offering"). The Prospectus Supplement limits the amounts that the Company may sell under the registration statement as the Company is subject to General Instruction I.B.6 of Form S-3. The Company currently may offer and sell shares of common stock having an aggregate offering price of up to $4.2 million under the Sales Agreement, which amount is in addition to the shares of common stock that we have sold to date in accordance with the Sales Agreement under the Prospectus. Subject to the terms and conditions of the Sales Agreement, any such sales made through the Agents can be made, based upon the Company's instructions, by methods deemed an “at-the-market" offering as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The Company agreed to pay the Agents a commission of 3.0% of the gross proceeds of any sales of shares sold pursuant to the Sales Agreement. To date, the Company sold an aggregate of 3,184,900 shares through the “at-the-market" offering facility resulting in net proceeds of $5.1 million. The Company did not sell shares through the “at-the-market" offering facility in the three and six months ended June 30, 2023.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation During January 2017, the Company adopted the 2017 Equity Incentive Plan (“2017 Plan”), which provides for the granting of restricted stock, options to purchase shares of common stock and other awards to employees, directors and consultants. In March 2017, the Company amended the 2017 Plan to increase the number of available shares to 660,838. In September 2018, the Company adopted the 2018 Equity Incentive Plan (“2018 Plan”) which provides for the granting of restricted stock, options to purchase shares of common stock, and other awards to employees, directors and consultants, and reserved 1,741,770 shares for this purpose. The 2018 Plan was amended in July 2018 to increase the number of available shares to 1,809,143 shares. In February 2021, the Company adopted the 2021 Equity Incentive Plan (“2021 Plan”) and have reserved a total of 5,202,624 shares under the plan. No further shares will be issued under the 2017 and 2018 plans. There are 1,059,253 shares available for issuance under the 2021 plan as of August 1, 2023. The number of options to be granted under the 2021 Plan, the option exercise prices, and other terms of the options are determined by the Company's Board of Directors (the "Board") in accordance with the terms of the 2021 Plan. Generally, stock options are granted at fair value, become exercisable over a period of one On March 22, 2023, in order to retain and motivate employees and other key contributors of the Company, the Board approved a one-time stock option repricing (the “Option Repricing”). Pursuant to the Option Repricing, the exercise price of all of the below stock options to purchase shares of the Company’s common stock previously granted under our 2017 Plan, 2018 Plan and 2021 Plan (the “Repriced Options”) was amended as of April 4, 2023 (the “Effective Date”) to reduce the exercise prices of such options to a price equal to or greater than the closing price per share of the Company’s common stock on The Nasdaq Stock Market on the Effective Date, which was $0.41 per share (the “Nasdaq Market Price”), on the terms described below: Repriced Options Terms of Repriced Options vested or vesting within six months following the Effective Date Terms of Repriced Options vesting more than six months following the Effective Date All options held by employees other than our executive officers, in good standing on the Effective Date The Option Repricing exercise price will be equal to 2.5 times the Nasdaq Market Price, or $1.03. The Option Repricing exercise price will be equal to the Nasdaq Market Price, or $0.41. All options held by our current executive officers and 100,000 options held by Jerome Zeldis, our former Executive Vice President and Head of Research & Development The Option Repricing exercise price will be equal to 3.0 times the Nasdaq Market Price, or $1.23. The Option Repricing exercise price will be equal to 2.0 times the Nasdaq Market Price, or $0.82. All options held by our directors The Option Repricing exercise price will be equal to 4.0 times the Nasdaq Market Price, or $1.64. The Option Repricing exercise price will be equal to 3.0 times the Nasdaq Market Price, $1.23. The Company treated the Option Repricing as a modification to the original stock option grant because the terms of the agreements were modified. The total number of options issued and outstanding were not impacted by the Option Repricing. The calculation of the incremental compensation expense is based on the excess of the fair value of the award measured immediately before and after the modification. The total incremental expense calculated to be recognized over the service period is $0.3 million. As a result, the Company recognized an incremental compensation expense for vested shares of $0.2 million associated with the modification arising from the Option Repricing for the three and six months ended June 30, 2023. Stock-based compensation expense was recorded in the following financial statement line items within the statement of operations for the periods ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Research and development expenses $ 324,422 $ 871,307 $ 584,152 $ 2,004,069 General and administrative expenses 666,711 437,741 1,249,427 950,831 Total stock-based compensation expense $ 991,133 $ 1,309,048 $ 1,833,579 $ 2,954,900 The following is a summary of option activity under the Company’s Stock Option Plans: Stock Options Weighted Weighted Aggregate Outstanding as of January 1, 2023 3,965,502 $ 7.38 8.0 $ — Granted 851,290 0.41 Exercised — — Cancelled (653,592) 13.22 Forfeited (201,415) 5.82 Outstanding as of June 30, 2023 3,961,785 $ 1.09 7.9 $ — Vested or expected to vest as of June 30, 2023 3,961,785 $ 1.09 7.9 — Exercisable as of June 30, 2023 2,122,604 $ 1.52 6.8 — Shares unvested as of June 30, 2023 1,839,181 $ 0.59 9.1 $ — The weighted average fair value of the options granted during the six months ended June 30, 2023 and 2022 was $0.31 and $2.45, respectively. The options were valued using the Black-Scholes option-pricing model for the six months ended June 30, 2023 and 2022 with the following assumptions: 2023 2022 Expected volatility 90.2 % 78.6% to 81.3% Risk-free interest rate 3.4 % 1.5% to 3.6% Expected dividend yield 0 % 0 % Expected term 6.1 years 5.5 to 6.1 years No options were exercised in the six months ended June 30, 2023. The intrinsic value of stock options exercised for the six months ended June 30, 2022 was $0.2 million. As of June 30, 2023, there was $4.9 million of total unrecognized compensation expense related to unvested options that will be recognized over a weighted average period of 2.7 years. Restricted Stock Units A restricted stock unit (“RSU”) represents the right to receive one of the Company’s common stock upon vesting of the RSU. The fair value of each RSU is based on the closing price of the Company’s common stock on the date of grant. The following is a summary of RSU activity for the 2021 Plan for the six months ended June 30, 2023: Number of restricted units Weighted average grant date fair value Unvested and outstanding at January 1, 2023 1,558,000 $ 0.45 Granted — — Vested — — Forfeited (32,500) 0.45 Unvested and outstanding as of June 30, 2023 1,525,500 $ 0.45 As of June 30, 2023, there was $0.4 million of unrecognized compensation expense related to unvested RSUs, which are expected to be recognized over a weighted average period of 0.9 years.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders Basic net loss per common share is determined by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. Diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common stock and common stock equivalents outstanding for the period. The treasury stock method is used to determine the dilutive effect of the Company’s stock option grants. For the three and six months ended June 30, 2023 and 2022, the Company had a net loss attributable to common stockholders, and as such, all outstanding stock options and RSUs were anti-dilutive. The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net loss $ (7,566,504) $ (15,860,789) $ (17,131,581) $ (30,883,794) Basic and diluted net loss per common share $ (0.29) $ (0.69) $ (0.66) $ (1.35) Basic and diluted weighted average common shares outstanding 26,078,451 22,871,369 26,078,451 22,854,311 The following potentially dilutive securities have been excluded from the computation of diluted weighted average common shares outstanding at June 30, 2023 and 2022 as the effect would be anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stock options 3,961,785 3,976,311 3,961,785 3,976,311 Restricted stock unit 1,525,500 — 1,525,500 — Total 5,487,285 3,976,311 5,487,285 3,976,311

Related Party Transaction

Related Party Transaction	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transaction	Related Party Transaction On March 16, 2022, the Company and Zephyr AI, Inc. (“Zephyr”) entered into a Joint Research Agreement (the “JRA”) focused on the joint collaboration, identification and validation of certain targets in order to facilitate further research, development and potential commercialization of immunotherapies. Zephyr is owned by a holding company and multiple members of our Board serve on Zephyr’s board of directors. The JRA term is two years unless mutually extended. Pursuant to the JRA, Zephyr will identify suitable antigens or combinations thereof for validation and testing by NexImmune. The Joint Steering Committee (the “JSC”) provided for by the JRA will then determine which identified candidates shall be subject to further analysis. NexImmune will validate which, if any, of the identified antigens are suitable for T-cell engagement and killing function (the “Final Candidates”). The JSC will make a good-faith determination as to whether the data supports the further IND-targeted development by NexImmune of any of the Final Candidates. The Company and Zephyr will jointly own any Final Candidates, including the intellectual property related thereto. Each of the Company and Zephyr shall be responsible for payment of their own respective costs and expenses in connection with the performance of their respective obligations under the JRA. If a Final Candidate is to be further developed, then the Company and Zephyr shall engage in good-faith negotiations to agree on the terms and conditions of an agreement with respect to the further development and commercialization of such Final Candidate. If such an agreement is not executed within the prescribed negotiation period, then neither the Company nor Zephyr may further develop such Final Candidate. The expenses related to the JRA for the three and six months ended June 30, 2023 and 2022 were immaterial.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company has not recorded any tax provision or benefit for the three and six months ended June 30, 2023 and 2022. The Company has provided a valuation allowance for the full amount of its net deferred tax assets since realization of any future benefit from deductible temporary differences, net operating loss carryforwards, and research and development credits is not more-likely-than-not to be realized at June 30, 2023 and December 31, 2023. The effective tax rate for each of the three and six months ended June 30, 2023 and 2022 is 0%.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited financial statements were prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the ASC and Accounting Standards Updates (“ASU”) of the FASB.
Recent Accounting Standards and Pronouncements	Recent Accounting Standards and Pronouncements Recently Adopted
Fair Value Measurement	The Company’s financial instruments include cash, cash equivalents, marketable securities, accounts payable and accrued expenses. The fair values of the cash, cash equivalents, accounts payable and accrued expenses approximated their carrying values as of June 30, 2023 and December 31, 2022 due to their short-term maturities. The Company accounts for recurring and nonrecurring fair value measurements in accordance with ASC 820, Fair Value Measurements (“ASC 820”). ASC 820 defines fair value, establishes a fair value hierarchy for assets and liabilities measured at fair value, and requires expanded disclosures about fair value measurements. The ASC hierarchy ranks the quality of reliability of inputs, or assumptions, used in the determination of fair value, and requires assets and liabilities carried at fair value to be classified and disclosed in one of the following three categories: Level 1 - Fair value is determined by using unadjusted quoted prices that are available in active markets for identical assets and liabilities. Level 2 - Fair value is determined by using inputs, other than Level 1 quoted prices that are directly and indirectly observable. Inputs can include quoted prices for similar assets and liabilities in active markets or quoted prices for identical assets and liabilities in inactive markets. Related inputs can also include those used in valuation or other pricing models that can be corroborated by observable market data. Level 3 - Fair value is determined by inputs that are unobservable and not corroborated by market data. Use of these inputs involves significant judgments to be made by a reporting entity. In instances where the determination of the fair value measurement is based on inputs from different levels of fair value hierarchy, the fair value measurement will fall within the lowest level input that is significant to the fair value measurement in its entirety. The Company periodically evaluates financial assets and liabilities subject to fair value measurements to determine the appropriate level at which to classify them each reporting period. This determination requires the Company to make judgments as to the significance of inputs used in determining fair value and where such inputs lie within the ASC 820 hierarchy.
Earnings Per Share	Basic net loss per common share is determined by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. Diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common stock and common stock equivalents outstanding for the period. The treasury stock method is used to determine the dilutive effect of the Company’s stock option grants.

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2023
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Summary of Reconciliation of Cash and Cash Equivalents	The following table presents the Company’s cash, cash equivalents and restricted cash as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Recurring Fair Cash and cash equivalents: Cash $ 1,084,857 $ 2,940,733 Money market funds 15,196,163 23,722,328 Level 1 Fixed income debt securities — 7,979,279 Level 2 Total cash and cash equivalents 16,281,020 34,642,340 Restricted cash 55,000 55,000 Total cash, cash equivalents, and restricted cash $ 16,336,020 $ 34,697,340
Summary of Reconciliation of Restrictions on Cash and Cash Equivalents	The following table presents the Company’s cash, cash equivalents and restricted cash as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Recurring Fair Cash and cash equivalents: Cash $ 1,084,857 $ 2,940,733 Money market funds 15,196,163 23,722,328 Level 1 Fixed income debt securities — 7,979,279 Level 2 Total cash and cash equivalents 16,281,020 34,642,340 Restricted cash 55,000 55,000 Total cash, cash equivalents, and restricted cash $ 16,336,020 $ 34,697,340

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of fair value assets and liabilities measured on recurring basis	The following table represents the Company’s fair value hierarchy for its financial assets measured at fair value on a recurring basis: June 30, 2023 December 31, 2022 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Money market funds $ 15,196,163 $ — $ — $ 23,722,328 $ — $ — Fixed income debt securities — — — — 7,979,279 — $ 15,196,163 $ — $ — $ 23,722,328 $ 7,979,279 $ —

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of prepaid expenses and other current assets	Prepaid expenses and other current assets consist of the following at June 30, 2023 and December 31, 2022: June 30, December 31, Prepaid research and development expenses $ 581,951 $ 1,176,491 Prepaid maintenance agreements 295,689 369,606 Prepaid insurance 814,199 403,653 Prepaid other 100,294 245,278 Interest receivable 66,931 74,467 Other current assets 304,926 401,916 Total prepaid expenses and other current assets $ 2,163,990 $ 2,671,411

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Summary of property and equipment	Property and equipment consist of the following at June 30, 2023 and December 31, 2022: June 30, December 31, Laboratory equipment $ 6,835,058 $ 6,803,996 Computer equipment and software 529,605 516,974 Furniture and fixtures 47,877 47,877 Leasehold improvements 318,491 319,816 7,731,031 7,688,663 Less accumulated depreciation and amortization (3,760,515) (3,229,592) Total property and equipment, net $ 3,970,516 $ 4,459,071

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Summary of the components of accrued expenses	A summary of the components of accrued expenses is as follows as of June 30, 2023 and December 31, 2022: June 30, December 31, Accrued research and development costs $ 2,309,757 $ 3,210,794 Accrued salaries, benefits and related expenses 2,395,730 3,855,797 Accrued professional fees 406,550 267,383 Other accrued expenses 27,747 23,179 Total accrued expenses $ 5,139,784 $ 7,357,153

Restructuring Activities (Table

Restructuring Activities (Tables)	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Summary of Charges Related to Restructuring Activities	The following table summarizes the charges related to the restructuring activities as of June 30, 2023. Restructuring expenses during the year ended December 31, 2022 was $0.5 million. The Company expects to complete the restructuring in the third quarter of 2023. Accrued Restructuring Expenses Accrued Restructuring Expenses December 31, 2022 Expenses Less: Payments June 30, 2023 Severance, benefits and related costs due to workforce reduction $ 382,389 $ 146,772 $ (508,559) $ 20,602 Totals $ 382,389 $ 146,772 $ (508,559) $ 20,602

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Arrangements Repriced Options and Terms	The Nasdaq Stock Market on the Effective Date, which was $0.41 per share (the “Nasdaq Market Price”), on the terms described below: Repriced Options Terms of Repriced Options vested or vesting within six months following the Effective Date Terms of Repriced Options vesting more than six months following the Effective Date All options held by employees other than our executive officers, in good standing on the Effective Date The Option Repricing exercise price will be equal to 2.5 times the Nasdaq Market Price, or $1.03. The Option Repricing exercise price will be equal to the Nasdaq Market Price, or $0.41. All options held by our current executive officers and 100,000 options held by Jerome Zeldis, our former Executive Vice President and Head of Research & Development The Option Repricing exercise price will be equal to 3.0 times the Nasdaq Market Price, or $1.23. The Option Repricing exercise price will be equal to 2.0 times the Nasdaq Market Price, or $0.82. All options held by our directors The Option Repricing exercise price will be equal to 4.0 times the Nasdaq Market Price, or $1.64. The Option Repricing exercise price will be equal to 3.0 times the Nasdaq Market Price, $1.23.
Summary of Stock-Based Compensation Expense	Stock-based compensation expense was recorded in the following financial statement line items within the statement of operations for the periods ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Research and development expenses $ 324,422 $ 871,307 $ 584,152 $ 2,004,069 General and administrative expenses 666,711 437,741 1,249,427 950,831 Total stock-based compensation expense $ 991,133 $ 1,309,048 $ 1,833,579 $ 2,954,900
Summary of Option Activity	The following is a summary of option activity under the Company’s Stock Option Plans: Stock Options Weighted Weighted Aggregate Outstanding as of January 1, 2023 3,965,502 $ 7.38 8.0 $ — Granted 851,290 0.41 Exercised — — Cancelled (653,592) 13.22 Forfeited (201,415) 5.82 Outstanding as of June 30, 2023 3,961,785 $ 1.09 7.9 $ — Vested or expected to vest as of June 30, 2023 3,961,785 $ 1.09 7.9 — Exercisable as of June 30, 2023 2,122,604 $ 1.52 6.8 — Shares unvested as of June 30, 2023 1,839,181 $ 0.59 9.1 $ —
Summary of Black-Scholes Option Pricing Model	The options were valued using the Black-Scholes option-pricing model for the six months ended June 30, 2023 and 2022 with the following assumptions: 2023 2022 Expected volatility 90.2 % 78.6% to 81.3% Risk-free interest rate 3.4 % 1.5% to 3.6% Expected dividend yield 0 % 0 % Expected term 6.1 years 5.5 to 6.1 years
Schedule of Unvested Restricted Stock Units Roll Forward	The following is a summary of RSU activity for the 2021 Plan for the six months ended June 30, 2023: Number of restricted units Weighted average grant date fair value Unvested and outstanding at January 1, 2023 1,558,000 $ 0.45 Granted — — Vested — — Forfeited (32,500) 0.45 Unvested and outstanding as of June 30, 2023 1,525,500 $ 0.45

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Summary of basic and diluted earnings per share	The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net loss $ (7,566,504) $ (15,860,789) $ (17,131,581) $ (30,883,794) Basic and diluted net loss per common share $ (0.29) $ (0.69) $ (0.66) $ (1.35) Basic and diluted weighted average common shares outstanding 26,078,451 22,871,369 26,078,451 22,854,311
Summary of antidilutive securities outstanding	The following potentially dilutive securities have been excluded from the computation of diluted weighted average common shares outstanding at June 30, 2023 and 2022 as the effect would be anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stock options 3,961,785 3,976,311 3,961,785 3,976,311 Restricted stock unit 1,525,500 — 1,525,500 — Total 5,487,285 3,976,311 5,487,285 3,976,311

Nature of the Business (Details

Nature of the Business (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (207,381,235)	$ (190,249,654)
Outstanding debt	0
Cash and cash equivalents	$ 16,281,020	$ 34,642,340

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash (Detail) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Line Items]
Cash	$ 1,084,857	$ 2,940,733
Cash and cash equivalents	16,281,020	34,642,340
Total cash, cash equivalents, and restricted cash	16,336,020	34,697,340	$ 40,749,227	$ 30,393,852
Money market funds | Level 1
Cash and Cash Equivalents [Line Items]
Cash equivalents, at carrying value	15,196,163	23,722,328
Fixed income debt securities | Level 2
Cash and Cash Equivalents [Line Items]
Cash equivalents, at carrying value	0	7,979,279
Restricted cash
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 55,000	$ 55,000

Fair Value Measurements (Detail

Fair Value Measurements (Detail) - Recurring basis - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Level 1
Assets
Total assets	$ 15,196,163	$ 23,722,328
Level 1 | Money market funds
Assets
Money market funds	15,196,163	23,722,328
Level 1 | Fixed income debt securities
Assets
Fixed income debt securities	0	0
Level 2
Assets
Total assets	0	7,979,279
Level 2 | Money market funds
Assets
Money market funds	0	0
Level 2 | Fixed income debt securities
Assets
Fixed income debt securities	0	7,979,279
Level 3
Assets
Total assets	0	0
Level 3 | Money market funds
Assets
Money market funds	0	0
Level 3 | Fixed income debt securities
Assets
Fixed income debt securities	$ 0	$ 0

Prepaid Expenses And Other Cu_3

Prepaid Expenses And Other Current Assets (Detail) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid research and development expenses	$ 581,951	$ 1,176,491
Prepaid maintenance agreements	295,689	369,606
Prepaid insurance	814,199	403,653
Prepaid other	100,294	245,278
Interest receivable	66,931	74,467
Other current assets	304,926	401,916
Total prepaid expenses and other current assets	$ 2,163,990	$ 2,671,411

Property and Equipment - Summar

Property and Equipment - Summary of Property And Equipment (Detail) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 7,731,031	$ 7,688,663
Less accumulated depreciation and amortization	(3,760,515)	(3,229,592)
Total property and equipment, net	3,970,516	4,459,071
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	6,835,058	6,803,996
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	529,605	516,974
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	47,877	47,877
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 318,491	$ 319,816

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 0.3	$ 0.2	$ 0.5	$ 0.5

Accrued Expenses (Detail)

Accrued Expenses (Detail) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued research and development costs	$ 2,309,757	$ 3,210,794
Accrued salaries, benefits and related expenses	2,395,730	3,855,797
Accrued professional fees	406,550	267,383
Other accrued expenses	27,747	23,179
Accrued expenses	$ 5,139,784	$ 7,357,153

Commitments and Contingencies (

Commitments and Contingencies (Detail) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 31, 2017	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2013	Dec. 31, 2022
Accrued royalties		$ 100,000		$ 100,000			$ 50,000
Loss contingency accrual		0		0			$ 0
Research and development expenses
Royalty expense		25,000	$ 50,000	25,000	$ 50,000
Maryland Biotechnology Center | Translational Research Award Agreement
Research and development arrangement contract to perform for others liability		0		0		$ 325,000
Research and development arrangement annual payment percentage						3%
Research and development arrangement contractual payment period						10 years
Research and development arrangement contractual payment percentage						200%
Revenue from contract with customer, including assessed tax				0
Johns Hopkins University | Exclusive License Agreement
Milestone fees	$ 4,200,000
Minimum annual royalty payments	$ 100,000			100,000
Maximum non-royalty sublicense payments, percent	15%
Cumulative minimum royalties		$ 575,000		$ 575,000
Johns Hopkins University | Exclusive License Agreement | Clinical Trial Milestones
Milestone fees	$ 75,000
Johns Hopkins University | Exclusive License Agreement | Therapeutic Field
Milestone fees	1,600,000
Johns Hopkins University | Exclusive License Agreement | Regulatory and Commercial Milestones
Milestone fees	400,000
Johns Hopkins University | Exclusive License Agreement | Non-clinical field
Milestone fees	$ 100,000

Restructuring Activities - Addi

Restructuring Activities - Additional Information (Details)	1 Months Ended	6 Months Ended	12 Months Ended
	Nov. 30, 2022 USD ($) employee	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Restructuring and Related Activities [Abstract]
Expected number of positions eliminated, percent	30%
Number of positions before eliminations | employee	74
Number of positions after eliminations | employee	50
Restructuring cost, reduction in workforce | $	$ 700,000
Expenses | $		$ 146,772	$ 500,000

Restructuring Activities - Summ

Restructuring Activities - Summary of Charges Related to Restructuring Activities (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 382,389
Expenses	146,772	$ 500,000
Less: Payments	(508,559)
Restructuring reserve, ending balance	20,602	382,389
Severance, benefits and related costs due to workforce reduction
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	382,389
Expenses	146,772
Less: Payments	(508,559)
Restructuring reserve, ending balance	$ 20,602	$ 382,389

Stockholders' Equity (Detail)

Stockholders' Equity (Detail) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	6 Months Ended
	Mar. 09, 2022	Jun. 30, 2022	Jun. 30, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Common stock, par value (in dollars per share)			$ 0.0001	$ 0.0001
At-The-Market Offering
Class of Stock [Line Items]
Sale of stock, aggregate offering approval, maximum	$ 200
Common stock, par value (in dollars per share)		$ 0.0001
Sale of stock, aggregate offering approval		$ 50	$ 4.2
Commission percentage		3%
Shares issued (shares)		3,184,900
Net proceeds from sale of stock		$ 5.1

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended	6 Months Ended
	Feb. 28, 2021 shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares	Apr. 04, 2023 shares	Mar. 22, 2023 $ / shares	Dec. 31, 2022 shares	Sep. 30, 2018 shares	Jul. 31, 2018 shares	Mar. 01, 2017 shares
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share price (in dollars per share) | $ / shares					$ 0.41
Share-based compensation arrangement by share-based payment award, options, outstanding (in shares)		3,961,785				3,965,502
Weighted average fair value of the options granted (in dollars per share) | $ / shares		$ 0.31	$ 2.45
Exercise of stock options (in shares)		0
Intrinsic value of stock options exercised | $			$ 0.2
Unrecognized compensation expense | $		$ 4.9
Employees Excluding Executive Officer | Tranche One
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, option, repricing multiple					2.5
Share based payment arrangement, option, repricing exercise price (in dollars per share) | $ / shares					$ 1.03
Employees Excluding Executive Officer | Tranche Two
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, option, repricing exercise price (in dollars per share) | $ / shares					$ 0.41
Executive Officer | Jerome Zeldis
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation arrangement by share-based payment award, options, outstanding (in shares)				100,000
Executive Officer | Tranche One
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, option, repricing multiple					3
Share based payment arrangement, option, repricing exercise price (in dollars per share) | $ / shares					$ 1.23
Executive Officer | Tranche Two
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, option, repricing multiple					2
Share based payment arrangement, option, repricing exercise price (in dollars per share) | $ / shares					$ 0.82
Director | Tranche One
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, option, repricing multiple					4
Share based payment arrangement, option, repricing exercise price (in dollars per share) | $ / shares					$ 1.64
Director | Tranche Two
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, option, repricing multiple					3
Share based payment arrangement, option, repricing exercise price (in dollars per share) | $ / shares					$ 1.23
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, plan modification, incremental cost | $		$ 0.2
Unrecognized compensation expense period for recognition		2 years 8 months 12 days
Restricted stock unit
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation expense period for recognition		10 months 24 days
Unrecognized compensation expense | $		$ 0.4
Maximum | Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, plan modification, incremental cost | $		$ 0.3
The 2017 Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares reserved (in shares)									660,838
Shares available for issuance (in shares)		0
The 2018 Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares reserved (in shares)							1,741,770	1,809,143
Shares available for issuance (in shares)		0
The 2021 Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares reserved (in shares)	5,202,624
Shares available for issuance (in shares)		1,059,253
Award expiration period	10 years
The 2021 Plan | Minimum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Award vesting period	1 year
The 2021 Plan | Maximum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Award vesting period	4 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Based Compensation Expense (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 991,133	$ 1,309,048	$ 1,833,579	$ 2,954,900
Research and development expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	324,422	871,307	584,152	2,004,069
General and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 666,711	$ 437,741	$ 1,249,427	$ 950,831

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Option Activity (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Stock Options
Outstanding as of beginning of period (in shares)	3,965,502	3,965,502
Granted (in shares)		851,290
Exercised (in shares)		0
Cancelled (in shares)		(653,592)
Forfeited (in shares)		(201,415)
Outstanding as of end of period (in shares)		3,961,785
Vested or expected to vest by period end (in shares)		3,961,785
Exercisable as of period end (in shares)		2,122,604
Shares unvested as of period end (in shares)		1,839,181
Weighted Average Exercise Price
Outstanding as of beginning of period (in dollars per share)	$ 7.38	$ 7.38
Granted (in dollars per share)		0.41
Exercised (in dollars per share)		0
Cancelled (in dollars per share)		13.22
Forfeited (in dollars per share)		5.82
Outstanding as of end of period (in dollars per share)		1.09
Vested or expected to vest as of end of period (in dollars per share)		1.09
Exercisable as of end of period (in dollars per share)		1.52
Shares unvested as of end of period (in dollars per share)		$ 0.59
Weighted Average Remaining Contractual Term (years)
Outstanding as of end of period (in years)	8 years	7 years 10 months 24 days
Vested or expected to vest as of end of period (in years)		7 years 10 months 24 days
Exercisable as of end of period (in years)		6 years 9 months 18 days
Shares unvested as of end of period (in years)		9 years 1 month 6 days
Aggregate Intrinsic Value (in millions)
Outstanding as of June 30, 2023		$ 0	$ 0
Vested or expected to vest as of June 30, 2023		0
Exercisable as of June 30, 2023		0
Shares unvested as of June 30, 2023		$ 0

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Black-Scholes Option Pricing Model (Detail)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expected volatility	90.20%
Expected volatility		78.60%
Expected volatility		81.30%
Risk-free interest rate	3.40%
Risk-free interest rate		1.50%
Risk-free interest rate		3.60%
Expected dividend yield	0%	0%
Expected term	6 years 1 month 6 days
Minimum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expected term		5 years 6 months
Maximum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expected term		6 years 1 month 6 days

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of RSU Activity (Details) - Restricted stock unit $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Number of restricted units
Beginning balance (in shares) | shares	1,558,000
Granted (in shares) | shares	0
Vested (in shares) | shares	0
Forfeited (in shares) | shares	(32,500)
Ending balance (in shares) | shares	1,525,500
Weighted Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 0.45
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0.45
Ending balance (in dollars per share) | $ / shares	$ 0.45
Unrecognized compensation expense | $	$ 0.4
Unrecognized compensation expense period for recognition	10 months 24 days

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Summary of Basic and Diluted Earnings Per Share (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net loss	$ (7,566,504)	$ (15,860,789)	$ (17,131,581)	$ (30,883,794)
Basic net loss per common share (in dollars per share)	$ (0.29)	$ (0.69)	$ (0.66)	$ (1.35)
Diluted net loss per common share (in dollars per share)	$ (0.29)	$ (0.69)	$ (0.66)	$ (1.35)
Basic weighted average common shares outstanding (in shares)	26,078,451	22,871,369	26,078,451	22,854,311
Diluted weighted average common shares outstanding (in shares)	26,078,451	22,871,369	26,078,451	22,854,311

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Summary of Antidilutive Securities Outstanding (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	5,487,285	3,976,311	5,487,285	3,976,311
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	3,961,785	3,976,311	3,961,785	3,976,311
Restricted stock unit
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	1,525,500	0	1,525,500	0

Related Party Transaction (Deta

Related Party Transaction (Details) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 16, 2022	Jul. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Related Party Transaction [Line Items]
JRA term	2 years
Other expense			$ (5,166)	$ (19,046)	$ (19,572)	$ (21,622)
Subsequent Event
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction		$ 200,000
Related Party
Related Party Transaction [Line Items]
Other expense			$ 43,000	$ 0	$ 43,000	$ 0

Income Taxes (Detail)

Income Taxes (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ 0	$ 0	$ 0	$ 0
Effective tax rate	0%	0%	0%	0%