HCW Biologics (HCWB) 10-Q 11 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 10, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Registrant Name	HCW Biologics Inc.
Entity Central Index Key	0001828673
Current Fiscal Year End Date	--12-31
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-5024477
Entity Address, Address Line One	2929 N
Entity Address, Address Line Two	Commerce Parkway
Entity Address, City or Town	Miramar
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33025
City Area Code	954
Local Phone Number	842–2024
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	true
Entity Shell Company	false
Title of 12(b) Security	Common Stock
Trading Symbol	HCWB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		35,926,721
Securities Act File Number	001-40591

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 7,449,010	$ 22,326,356
Short-term investments	9,959,370	9,735,930
Accounts receivable, net	707,211	417,695
Prepaid expenses	1,356,520	1,394,923
Other current assets	327,055	196,015
Total current assets	19,799,166	34,070,919
Investments	1,599,751	1,599,751
Property and equipment, net	12,623,308	10,804,610
Deposit for interest reserve	5,250,000	0
Other assets	211,019	333,875
Total assets	39,483,244	46,809,155
Current liabilities:
Accounts payable	2,116,216	1,226,156
Accrued liabilities and other current liabilities	2,421,682	1,730,325
Total current liabilities	4,537,898	2,956,481
Debt, Net	6,359,704	6,409,893
Other Liabilities	0	14,275
Total Liabilities	10,897,602	9,380,649
Commitments and contingencies (Note 7)
Stockholders' equity:
Common Stock, Value, Issued	3,593	3,588
Additional paid-in capital	83,495,201	82,962,964
Accumulated deficit	(54,913,152)	(45,538,046)
Total stockholders' equity	28,585,642	37,428,506
Total liabilities and stockholders' equity	$ 39,483,244	$ 46,809,155

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Condensed Balance Sheets [Line Items]
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Shares, Issued	35,926,721	35,876,440

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Revenues	$ 622,807	$ 454,000	$ 664,690	$ 3,571,545
Cost of Revenues	(502,402)	(287,200)	(531,752)	(1,615,276)
Net Revenues	120,405	166,800	132,938	1,956,269
Operating expenses:
Research and development	1,616,666	1,969,882	3,872,479	3,759,558
General and administrative	3,014,260	1,707,995	6,131,550	3,588,597
Total operating expenses	4,630,926	3,677,877	10,004,029	7,348,155
Loss from operations	(4,510,521)	(3,511,077)	(9,871,091)	(5,391,886)
Interest expense	(95,514)	0	(188,951)	0
Other (expense) income, net	301,615	516	684,936	(175,882)
Net loss	$ (4,304,420)	$ (3,510,561)	$ (9,375,106)	$ (5,567,768)
Net loss per share, basic	$ (0.12)	$ (0.1)	$ (0.26)	$ (0.16)
Net loss per share, diluted	$ (0.12)	$ (0.1)	$ (0.26)	$ (0.16)
Weighted-average common shares outstanding, basic	35,910,669	35,814,482	35,897,224	35,796,257
Weighted-average common shares outstanding, diluted	35,910,669	35,814,482	35,897,224	35,796,257

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2021		35,768,264
Beginning balance , Value at Dec. 31, 2021	$ 51,193,240	$ 3,577	$ 81,827,006	$ (30,637,343)
Issuance of Class A Common Stock upon exercise of stock options , Shares		11,225
Issuance of Class A Common Stock upon exercise of stock options , Value	2,273	$ 1	2,272
Stock-based compensation , Value	260,348		260,348
Net loss	(2,057,207)			(2,057,207)
Ending balance (in shares) at Mar. 31, 2022		35,779,489
Ending balance , Value at Mar. 31, 2022	49,398,654	$ 3,578	82,089,626	(32,694,550)
Beginning balance (in shares) at Dec. 31, 2021		35,768,264
Beginning balance , Value at Dec. 31, 2021	51,193,240	$ 3,577	81,827,006	(30,637,343)
Net loss	(5,567,768)
Ending balance (in shares) at Jun. 30, 2022		35,823,923
Ending balance , Value at Jun. 30, 2022	46,165,428	$ 3,582	82,366,957	(36,205,111)
Beginning balance (in shares) at Mar. 31, 2022		35,779,489
Beginning balance , Value at Mar. 31, 2022	49,398,654	$ 3,578	82,089,626	(32,694,550)
Issuance of Class A Common Stock upon exercise of stock options , Shares		44,434
Issuance of Class A Common Stock upon exercise of stock options , Value	6,000	$ 4	5,996
Stock-based compensation , Value	271,335		271,335
Net loss	(3,510,561)			(3,510,561)
Ending balance (in shares) at Jun. 30, 2022		35,823,923
Ending balance , Value at Jun. 30, 2022	46,165,428	$ 3,582	82,366,957	(36,205,111)
Beginning balance (in shares) at Dec. 31, 2022		35,876,440
Beginning balance , Value at Dec. 31, 2022	37,428,506	$ 3,588	82,962,964	(45,538,046)
Issuance of Class A Common Stock upon exercise of stock options , Shares		10,195
Issuance of Class A Common Stock upon exercise of stock options , Value	1,901	$ 1	1,900
Stock-based compensation , Value	259,206		259,206
Net loss	(5,070,686)			(5,070,686)
Ending balance (in shares) at Mar. 31, 2023		35,886,635
Ending balance , Value at Mar. 31, 2023	32,618,927	$ 3,589	83,224,070	(50,608,732)
Beginning balance (in shares) at Dec. 31, 2022		35,876,440
Beginning balance , Value at Dec. 31, 2022	37,428,506	$ 3,588	82,962,964	(45,538,046)
Net loss	(9,375,106)
Ending balance (in shares) at Jun. 30, 2023		35,926,721
Ending balance , Value at Jun. 30, 2023	28,585,642	$ 3,593	83,495,201	(54,913,152)
Beginning balance (in shares) at Mar. 31, 2023		35,886,635
Beginning balance , Value at Mar. 31, 2023	32,618,927	$ 3,589	83,224,070	(50,608,732)
Issuance of Class A Common Stock upon exercise of stock options , Shares		40,086
Issuance of Class A Common Stock upon exercise of stock options , Value	7,712	$ 4	7,708
Stock-based compensation , Value	263,423		263,423
Net loss	(4,304,420)			(4,304,420)
Ending balance (in shares) at Jun. 30, 2023		35,926,721
Ending balance , Value at Jun. 30, 2023	$ 28,585,642	$ 3,593	$ 83,495,201	$ (54,913,152)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (9,375,106)	$ (5,567,768)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	583,180	292,363
Stock-based compensation	522,629	531,683
Unrealized loss (gain) on investments, net	(223,440)	209,337
Reduction in the carrying amount of right-of-use asset	(418)	836
Changes in operating assets and liabilities:
Accounts receivable	(289,516)	(213,934)
Deposit for interest reserve	(5,250,000)	0
Prepaid expenses and other assets	(49,819)	1,863,759
Accounts payable and other liabilities	1,212,921	(1,347,729)
Operating lease liability	(160,490)	(50,545)
Net cash used in operating activities	(13,030,059)	(4,281,998)
Cash flows from investing activities:
Purchases of property and equipment	(1,856,900)	(36,461)
Proceeds for sale or maturities of short-term investments	0	7,999,840
Net cash (used in) provided by investing activities	(1,856,900)	7,963,379
Cash flows from financing activities:
Proceeds from issuance of common stock	9,613	8,273
Net cash (used in) provided by financing activities	9,613	8,273
Net changes in cash and cash equivalents	(14,877,346)	3,689,654
Cash and cash equivalents at the beginning of the period	22,326,356	11,730,677
Cash and cash equivalents at the end of the period	7,449,010	15,420,331
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	188,951	0
Non-cash operating, investing and financing activities:
Operating lease liabilities arising from obtaining right-of -use assets	0	269,134
Capital expenditures accrued, but not yet paid	357,466	0
Purchases of property and equipment included in accounts payable and other liabilities	$ 18,382	$ 0

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies	1. Organization and Summary of Significant Accounting Policies Organization HCW Biologics Inc. (the “Company”) is a biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen healthspan by disrupting the link between chronic, low-grade inflammation and age-related diseases. The Company believes age-related low-grade chronic inflammation, or “inflammaging,” is a significant contributing factor to several chronic diseases and conditions, such as cancer, cardiovascular disease, diabetes, neurodegenerative diseases, and autoimmune diseases. The Company is located in Miramar, Florida and was incorporated in the state of Delaware in April 2018. Liquidity As of June 30, 2023, the Company had not generated any revenue from commercial product sales of its internally-developed immunotherapeutic products for the treatment of cancer and other age-related diseases. In the course of its development activities, the Company has sustained operating losses and expects to continue to incur operating losses for the foreseeable future. Since inception, substantially all the Company’s activities have consisted of research, development, establishing large-scale cGMP production for clinical trials, and raising capital. The Company's total revenues to date have been generated solely from the Wugen License and manufacturing and supply arrangement with Wugen. In the three and six months ended June 30, 2023, the Company recognized revenues from manufacturing and supply of materials for Wugen o f $ 622,807 and $ 664,690 , res pectively. As of June 30, 2023, the Company had cash and cash equivalents of $ 7.4 m illion, a deposit for interest reserve of $ 5.3 million, and short-term investments o f $ 10.0 m illion held in U.S. government-backed securities. Since inception to June 30, 2023, the Company incurred cumulative net loss es of $ 52.2 million. Management expects to incur additional losses in the future to conduct product research and development and recognizes th e need to raise additional capital to fully implement its business plan. The Company intends to focus its efforts to raise capital from non-dilutive funding sources. This includes out-licensing rights to technology or regional markets, third-party collaboration funding, cooperative agreements for clinical trials, or other business development transactions. In addition, when or if market conditions are more favorable, the Company may raise capital through additional debt or equity financings. However, if such financing is not available at adequate levels, the Company will need to reevaluate its operating plan and may be required to delay the development of some of its products. Summary of Significant Accounting Policies Basis of Presentation Unaudited Interim Financial Information The accompanying unaudited condensed interim financial statements as of June 30, 2023 and for the three and six months ended June 30, 2022 and 2023 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to Article 10 of Regulation S-X of the Securities Act of 1933, as amended (the “Securities Act”). Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. These unaudited condensed interim financial statements include only normal and recurring adjustments that the Company believes are necessary to fairly state the Company’s financial position and the results of its operations and cash flows. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the results expected for the full fiscal year or any subsequent interim period. The condensed balance sheet at December 31, 2022 has been derived from the audited financial statements at that date but does not include all disclosures required by U.S. GAAP for complete financial statements. Because all of the disclosures required by U.S. GAAP for complete financial statements are not included herein, these unaudited condensed interim financial statements and the notes accompanying them should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2022 which appear in the Company’s Annual Report on Form 10-K (No. 001-40591) filed for the year ended December 31, 2022 with the Securities and Exchange Commission (the “SEC”) on March 28, 2023 and in other filings with the SEC. Deposit for Interest Reserve The Company agreed to establish an interest reserve account for the purpose of paying interest on outstanding debt under the Development Line of Credit Agreement which is further described in Note 8. Commitments and Contingencies - Project Financing herein. As of June 30, 2023, there was a balance of $ 5.3 million included in Deposit for interest reserve in noncurrent assets on the accompanying condensed balance sheet. Revenue Recognition The Company accounts for revenues in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“Topic 606”). To determine revenue recognition for arrangements that fall within the scope of Topic 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that it will collect the consideration it is entitled to in exchange for the goods or services transferred to the customer. At contract inception, the Company assesses the goods or services promised within each contract, determines those that are performance obligations, and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. To date, the Company's revenues have been generated solely from transactions with Wugen. The Wugen License includes licenses of intellectual property, cost reimbursements, upfront signing fees, milestone payments and royalties on future licensee’s product sales. In addition, the Company and Wugen have an agreement for supply of materials, from which the Company also recognizes revenues. License Grants: For out-licensing arrangements that include a grant of a license to the Company’s intellectual property, the Company considers whether the license grant is distinct from the other performance obligations included in the arrangement. For licenses that are distinct, the Company recognizes revenues from nonrefundable, upfront payments and other consideration allocated to the license when the license term has begun and the Company has provided all necessary information regarding the underlying intellectual property to the customer, which generally occurs at or near the inception of the arrangement. Milestone and Contingent Payments: At the inception of the arrangement and at each reporting date thereafter, the Company assesses whether it should include any milestone and contingent payments or other forms of variable consideration in the transaction price using the most likely amount method. If it is probable that a significant reversal of cumulative revenue would not occur upon resolution of the uncertainty, the associated milestone value is included in the transaction price. At the end of each subsequent reporting period, the Company re-evaluates the probability of achievement of each such milestone and any related constraint and, if necessary, adjusts its estimate of the overall transaction price. Since milestone and contingent payments may become payable to the Company upon the initiation of a clinical study or filing for or receipt of regulatory approval, the Company reviews the relevant facts and circumstances to determine when the Company should update the transaction price, which may occur before the triggering event. When the Company updates the transaction price for milestone and contingent payments, the Company allocates the changes in the total transaction price to each performance obligation in the agreement on the same basis as the initial allocation. Any such adjustments are recorded on a cumulative catch-up basis in the period of adjustment, which may result in recognizing revenue for previously satisfied performance obligations in such period. The Company’s licensees will generally pay milestones payments subsequent to achievement of the triggering event. Materials Supply: The Company provides clinical and research grade materials so that licensees may develop products based on the licensed molecules. The Company plans to enter into commercialization supply agreements when licensees enter the commercial stage of their company. The amounts billed are recognized as revenue as the performance obligations are satisfied by the Company, once the Company determines that a contract exists. On June 18, 2021, the Company entered into a master services agreement (“MSA”) for the supply of materials for clinical development of licensed products. On March 14, 2022, the Company entered into statements-of-work (“SOWs”) contemplated under the MSA for all current and historical purchases of clinical and research grade materials. The Company determined that upon entering into the SOWs all requirements were met to qualify as a contract under Topic 606. The manufacturing of the clinical and research materials supplied by the Company each represents a single performance obligation that is satisfied over time. The Company recognizes revenue using an input method based on the costs incurred relative to the total expected cost, which determines the extent of the Company's progress toward completion. As part of the accounting for these arrangements, the Company must develop estimates and assumptions that require judgement to determine the progress towards completion. The Company reviews its estimate of the progress toward completion based on the best information available to recognize the cumulative progress toward completion as of the end of each reporting period, and makes revisions to such estimates, if facts and circumstances change during each reporting period. The Company recognized revenue related to sale of development supply materials to its licensee, Wugen, of $ 454,000 and $ 3,571,545 , respectively, for the three and six months ended June 30, 2022; and $ 622,807 and $ 664,690 , resp ectively, for three and six month s ended June 30, 2023. Investments The Company holds a minority interest in Wugen which is accounted for using the measurement alternative whereby the investment is recorded at cost less impairment, adjusted for observable price changes in orderly transactions for an identical or similar investment of the same investee. No impairment has been recognized on the minority interest in Wugen as of June 30, 2023. As of December 31, 2022 and June 30, 2023, the Company included $ 1.6 million for the investment in Wugen in Investments in the accompanying condensed balance sheets. The Company invests in bills and notes issued by the U.S. Treasury which are classified as trading securities. The Company reported a fair value of $ 9.7 million and $ 10.0 million for the fair value of investments in U.S. Treasury bills as of December 31, 2022 and June 30, 2023, respectively, included in Short-term investments in the accompanying condensed balance sheets. Operating Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in Other assets, Accrued liabilities and other current liabilities, and Other liabilities on the accompanying condensed balance sheets. Operating lease Right of Use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. The Company has a lease agreement with lease and non-lease components, which are accounted for separately. Net Loss Per Share Basic loss per share of common stock is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during each period. Diluted loss per share of common stock includes the effect, if any, from the potential exercise of stock options and unvested shares of restricted stock, which would result in the issuance of incremental shares of common stock. For diluted net loss per share, the weighted-average number of shares of common stock is the same for basic net loss per share due to the fact that when a net loss exists, dilutive securities are not included in the calculation as the impact is anti-dilutive.

Accrued Liabilities and Other C

Accrued Liabilities and Other Current Liabilities	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Liabilities and Other Current Liabilities	2. Accrued Liabilities and Other Current Liabilities As of December 31, 2022 , the Company had a balance of $ 1.7 million included in Accrued liabilities and other current liabilities in the accompanying condensed balance sheet, consisting primarily of $ 416,000 for legal expenses, $ 277,500 for clinical expenses, $ 524,000 for bonus expenses, $ 134,000 for salary and benefits, and $ 178,000 for a lease liability. As of June 30, 2023, the Company had a balance of $ 2.4 million in Accrued liabilities and other current liabilities in the accompanying condensed balance sheet, consisting primarily of the following: $ 994,000 for legal expenses related to legal proceedings which are further described in Note 8. Commitments and Contingencies - Legal herein; $ 377,000 for clinical expenses; $ 365,000 performance-related bonus payable; $ 115,000 for salary and benefits; $ 79,000 for legal expenses related to the execution of the Company's patent prosecution strategy and other legal expenses incurred in the ordinary course of business; $ 112,000 for a lease liability; and $ 97,101 for the current portion of long-term debt.

Debt, Net

Debt, Net	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt, Net	3. Debt, Net On August 15, 2022, the Company entered into a loan and security agreement (the "2022 Loan Agreement") with Cogent Bank ("Cogent"), pursuant to which it received $ 6.5 million in gross proceeds to purchase a building that will become the Company's new headquarters. The Cogent loan is secured by a first priority lien on the building. As of June 30, 2023, the Company had $ 6.5 million in gross principal outstanding in a loan under the 2022 Loan Agreement. The interest-only period is one year followed by 48 months of equal payments of principal and interest beginning on September 15, 2023 based on a 25-year amortization rate. The unamortized balance is due on August 15, 2027 (the “Cogent Maturity Date”), and bears interest at a fixed per annum rate equal to 5.75 %. Upon the Cogent Maturity Date, a final payment of unamortized principal will be due. The Company is in compliance with all covenants as of June 30, 2023. The Company has the option to prepay the outstanding balance of the loan prior to the Cogent Maturity Date without penalty. As of December 31, 2022, the Cogent loan consisted of a long-term portion of $ 6.5 million which is included in Debt, net on the accompanying condensed balance sheet. As of June 30, 2023, it consisted of a curre nt portion of $ 97,101 which is included in Accrued liabilities and other current liabilities and a noncurrent portion of $ 6.4 million which is included in De bt, net in the accompanying condensed balance sheet

Preferred Stock

Preferred Stock	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Preferred Stock	4. Preferred Stock At December 31, 2022 and June 30, 2023, the Company has 10,000,000 shares of preferred stock authorized and no shares issued.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	5. Net Loss Per Share The following table summarizes the computation of the basic and diluted net loss per share: Three Months Ended June 30, Six Months Ended June 30, 2022 2023 2022 2023 Numerator: Net loss $ ( 3,510,561 ) $ ( 4,304,420 ) $ ( 5,567,768 ) $ ( 9,375,106 ) Denominator: Weighted-average common shares outstanding 35,814,482 35,910,669 35,796,257 35,897,224 Net loss per share, basic and diluted $ ( 0.10 ) $ ( 0.12 ) $ ( 0.16 ) $ ( 0.26 ) The following table summarizes the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because their inclusion would be anti-dilutive: At June 30, 2022 2023 Common stock options 1,924,317 1,873,806 Potentially diluted securities 1,924,317 1,873,806

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	6. Fair Value of Financial Instruments The carrying amount of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, U.S. government-backed securities with maturity dates up to one year, accounts payable, accrued liabilities and other current liabilities, approximate fair value due to their short-term maturities. The balance of funds included in Deposit for interest reserve is held in a non-interest bearing account and its carrying value approximates its fair value. Money market funds included in cash and cash equivalents and U.S. government-backed securities are measured at fair value based on quoted prices in active markets, which are considered Level 1 inputs. No transfers between levels occurred during the periods presented. The following table presents the Company’s assets which were measured at fair value at December 31, 2022 and June 30, 2023: At December 31, 2022: Level 1 Level 2 Level 3 Total Assets: Money market funds $ 19,458,020 $ — $ — $ 19,458,020 Treasury notes 9,735,930 — — 9,735,930 Total $ 29,193,950 $ — $ — $ 29,193,950 At June 30, 2023: Level 1 Level 2 Level 3 Total Assets: Money market funds $ 6,422,104 $ — $ — $ 6,422,104 Treasury notes 9,959,370 — — 9,959,370 Total $ 16,381,474 $ — $ — $ 16,381,474

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes The Company computes its quarterly income tax expense/(benefit) by using a forecasted annual effective tax rate and adjusts for any discrete items arising during the quarter. The Company did no t have a provision for income taxes (current or deferred tax expense) as of December 31, 2022 and June 30, 2023 . The Company will continue to maintain a 100 % valuation allowance on total deferred tax assets. The Company believes it is more likely than not that the related deferred tax asset will not be realized. As a result, the Company’s effective tax rate will remain at 0.00 % because no items either estimated or discrete items would impact the tax provision.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	. Commitments and Contingencies Operating Leases The Company has operating leases for approximately 12,250 square feet of space located in Miramar, Florida. The leases have a two-year term which commenced on March 1, 2022 and will terminate on February 29, 2024 . Upon the commencement of the leases, the Company used its incremental borrowing rate of 6.0 % to determine the amounts to recognize for a ROU asset and a lease liability. There are no obligations under finance leases. The components of the lease expense for the three and six months ended June 30, 2023 were as follows: For the Three Months For the Six Months Ended June 30, 2023 Operating lease cost $ 42,413 $ 84,825 Supplemental cash flow information related to lease for the six months ended June 30, 2023 was as follows: For the Six Months Ended June 30, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows $ 84,040 Right-of-use assets obtained in exchange for lease obligations: Operating lease $ 80,036 As of June 30, 2023, the supplemental balance sheet information related to leases was as follows: As of June 30, 2023 Operating lease right-of-use assets $ 110,561 Operating lease liabilities, current $ 112,232 As of June 30, 2023, the remaining lease payments were as follows: 2023 $ 85,661 2024 28,693 Total future minimum lease payments $ 114,354 For the three months ended June 30, 2022 and 2023, rent expense recognized by the Company was $ 49,996 and $ 40,875 , respectively, of which $ 25,149 and $ 22,212 , respectively, is included in research and development in the accompanying condensed statements of operations. For the six months ended June 30, 2022 and 2023, rent expense recognized by the Company was $ 77,139 and $ 84,825 , respectively, of which $ 32,834 and $ 44,424 , respectively, is included in research and development in the accompanying condensed statements of operations. Contractual Commitments The Company entered into an agreement with a third-party global contract development and manufacturer of biologics for the manufacture of the Company’s proprietary molecules for use in clinical trials. At December 31, 2022 and June 30, 2023, future payment obligations under such agreements were $ 406,000 and $ 2.2 million, respectively. In addition, as of December 31, 2022, the Company committed to purchase upstream processing and fluid management equipment for $ 1.6 million, and it advanced $ 495,000 for this purchase as of June 30, 2023. Project Financing On April 21, 2023, the Company entered into a secured Development Line of Credit Agreement (the "2023 Loan Agreement") with Prime Capital Ventures, LLC ("Prime"), pursuant to which Prime will advance loans to the Company in a principal amount not to exceed $ 26.3 million with a scheduled maturity of April 20, 2028 (the "Prime Maturity Date"). The Company has the option to prepay the balance of the loan prior to the Prime Maturity date without penalty. The note issued pursuant to the 2023 Loan Agreement bears interest at a fixed rate equal to 7.00 % per annum, due monthly in arears on the first day of each month. The primary purpose of the loan is to provide the funding required to complete the buildout of the Company's new headquarters, including improved research laboratories and a vivarium to support the Company's pre-clinical research efforts, and a manufacturing facility to produce GMP material to support the Company's clinical development as well as produce material to support the clinical development of its licensee, Wugen. Under the 2023 Loan Agreement, the Company was required to fund an interest reserve bank account controlled by Prime in the amount of $ 5.3 million to fund the interest payments due on outstanding principal amounts under the 2023 Loan Agreement. The balance of the reserve account is presented in Deposit for interest reserve in noncurrent assets on the accompanying condensed balance sheet. As of June 30, 2023, the Company had no outstanding borrowings under the 2023 Loan Agreement. The initial advance is contingent upon the Company's receipt of all necessary permits and approvals to begin construction. On August 10, 2023, the Company obtained construction permits required to begin the buildout of its new headquarters. This satisfies the final condition precedent to accessing the $26.3 million line of credit. The Company will incur $ 1.8 million in debt issuance costs in connection to the Prime loan, which will be earned and payable upon the first draw down. Legal From time to time, the Company is a party to or otherwise involved in legal proceedings, including suits, assessments, regulatory actions and investigations generally arising out of the normal course of business. In addition, the Company enters into agreements that may include indemnification provisions, pursuant to which the Company agrees to indemnify, hold harmless and defend the indemnified parties for losses suffered or incurred by the indemnified party. When the Company believes that the outcome of such a matter will result in a liability that is probable to be incurred and result in a potential loss, or range of loss, that can be reasonably estimated, the Company will accrue a liability and make the appropriate disclosure in the footnotes to the financial statements. On December 23, 2022, Altor BioScience, LLC and NantCell, Inc. (“Altor/NantCell”) initiated an arbitration against Dr. Hing C. Wong, the Company’s Founder and Chief Executive Officer, in California alleging breach of contract and fiduciary duty, among other claims. On that same date, Altor/NantCell filed a lawsuit against the Company in federal court alleging misappropriation of trade secrets, inducement of breach of contract and breach of fiduciary duty, among other claims against the Company. On January 31, 2023, the Company filed a motion to compel arbitration, a motion for the stay of the litigation, and a motion to dismiss the complaint (“motion to compel”). On April 18, 2023, the U.S. District Court for the Southern District of Florida (the “Court”) heard oral argument on the Company’s motion to compel and ordered the parties to provide supplemental briefing by April 28, 2023. Before the Court ruled on the Company’s motion to compel, on April 26, 2023, the parties stipulated that Altor/NantCell’s action against the Company would be consolidated with the Altor/NantCell arbitration demand against Dr. Wong. On April 27, 2023, the Court approved the parties’ stipulation and ordered the parties to arbitration. On May 1, 2023, Altor/NantCell filed a demand against the Company before JAMS. On May 3, 2023, Altor/NantCell dismissed the federal court action without prejudice and the Court ordered the case dismissed without prejudice and closed the case. Altor/NantCell’s proceeding against the Company is now proceeding in arbitration before JAMS. Inflationary Cost Environment, Geopolitical Risks and Other Macroeconomic Factors The operations have been affected by many headwinds, including inflationary pressures, rising interest rates, ongoing global supply chain disruptions resulting from increased geopolitical tensions such as the war between Russia and Ukraine, Chinese aggression towards Taiwan, financial market volatility and currency movements. Further, there have been lingering, long-term effects of COVID-19 that continue to directly or indirectly impact the Company’s business, results of operations and financial condition, particularly related to staffing at clinical sites. The Company may be impacted by inflation when procuring materials required for the buildout of our new headquarters, the costs for recruiting and retaining employees and other employee-related costs. The Company uses a number of strategies to effectively navigate these issues, including product redesign, alternate sourcing, and establishing contingencies in budgeting and timelines. Future developments in these and other areas present material uncertainty and risk with respect to the Company's clinical trials, IND-enabling activities, buildout of the new headquarters, as well as the Company's financial condition and results of operations. The extent and duration of such events and conditions, and resulting disruptions to our operations, are highly unpredictable.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events Subsequent events have been evaluated through the date the financial statements were available to be issued. As of such date, there were no material subsequent events identified that required recognition or disclosure other than as disclosed in the footnotes herein.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Unaudited Interim Financial Information The accompanying unaudited condensed interim financial statements as of June 30, 2023 and for the three and six months ended June 30, 2022 and 2023 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to Article 10 of Regulation S-X of the Securities Act of 1933, as amended (the “Securities Act”). Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. These unaudited condensed interim financial statements include only normal and recurring adjustments that the Company believes are necessary to fairly state the Company’s financial position and the results of its operations and cash flows. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the results expected for the full fiscal year or any subsequent interim period. The condensed balance sheet at December 31, 2022 has been derived from the audited financial statements at that date but does not include all disclosures required by U.S. GAAP for complete financial statements. Because all of the disclosures required by U.S. GAAP for complete financial statements are not included herein, these unaudited condensed interim financial statements and the notes accompanying them should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2022 which appear in the Company’s Annual Report on Form 10-K (No. 001-40591) filed for the year ended December 31, 2022 with the Securities and Exchange Commission (the “SEC”) on March 28, 2023 and in other filings with the SEC.
Deposit for Interest Reserve	Deposit for Interest Reserve The Company agreed to establish an interest reserve account for the purpose of paying interest on outstanding debt under the Development Line of Credit Agreement which is further described in Note 8. Commitments and Contingencies - Project Financing herein. As of June 30, 2023, there was a balance of $ 5.3 million included in Deposit for interest reserve in noncurrent assets on the accompanying condensed balance sheet.
Revenue Recognition	Revenue Recognition The Company accounts for revenues in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“Topic 606”). To determine revenue recognition for arrangements that fall within the scope of Topic 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that it will collect the consideration it is entitled to in exchange for the goods or services transferred to the customer. At contract inception, the Company assesses the goods or services promised within each contract, determines those that are performance obligations, and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. To date, the Company's revenues have been generated solely from transactions with Wugen. The Wugen License includes licenses of intellectual property, cost reimbursements, upfront signing fees, milestone payments and royalties on future licensee’s product sales. In addition, the Company and Wugen have an agreement for supply of materials, from which the Company also recognizes revenues. License Grants: For out-licensing arrangements that include a grant of a license to the Company’s intellectual property, the Company considers whether the license grant is distinct from the other performance obligations included in the arrangement. For licenses that are distinct, the Company recognizes revenues from nonrefundable, upfront payments and other consideration allocated to the license when the license term has begun and the Company has provided all necessary information regarding the underlying intellectual property to the customer, which generally occurs at or near the inception of the arrangement. Milestone and Contingent Payments: At the inception of the arrangement and at each reporting date thereafter, the Company assesses whether it should include any milestone and contingent payments or other forms of variable consideration in the transaction price using the most likely amount method. If it is probable that a significant reversal of cumulative revenue would not occur upon resolution of the uncertainty, the associated milestone value is included in the transaction price. At the end of each subsequent reporting period, the Company re-evaluates the probability of achievement of each such milestone and any related constraint and, if necessary, adjusts its estimate of the overall transaction price. Since milestone and contingent payments may become payable to the Company upon the initiation of a clinical study or filing for or receipt of regulatory approval, the Company reviews the relevant facts and circumstances to determine when the Company should update the transaction price, which may occur before the triggering event. When the Company updates the transaction price for milestone and contingent payments, the Company allocates the changes in the total transaction price to each performance obligation in the agreement on the same basis as the initial allocation. Any such adjustments are recorded on a cumulative catch-up basis in the period of adjustment, which may result in recognizing revenue for previously satisfied performance obligations in such period. The Company’s licensees will generally pay milestones payments subsequent to achievement of the triggering event. Materials Supply: The Company provides clinical and research grade materials so that licensees may develop products based on the licensed molecules. The Company plans to enter into commercialization supply agreements when licensees enter the commercial stage of their company. The amounts billed are recognized as revenue as the performance obligations are satisfied by the Company, once the Company determines that a contract exists. On June 18, 2021, the Company entered into a master services agreement (“MSA”) for the supply of materials for clinical development of licensed products. On March 14, 2022, the Company entered into statements-of-work (“SOWs”) contemplated under the MSA for all current and historical purchases of clinical and research grade materials. The Company determined that upon entering into the SOWs all requirements were met to qualify as a contract under Topic 606. The manufacturing of the clinical and research materials supplied by the Company each represents a single performance obligation that is satisfied over time. The Company recognizes revenue using an input method based on the costs incurred relative to the total expected cost, which determines the extent of the Company's progress toward completion. As part of the accounting for these arrangements, the Company must develop estimates and assumptions that require judgement to determine the progress towards completion. The Company reviews its estimate of the progress toward completion based on the best information available to recognize the cumulative progress toward completion as of the end of each reporting period, and makes revisions to such estimates, if facts and circumstances change during each reporting period. The Company recognized revenue related to sale of development supply materials to its licensee, Wugen, of $ 454,000 and $ 3,571,545 , respectively, for the three and six months ended June 30, 2022; and $ 622,807 and $ 664,690 , resp ectively, for three and six month s ended June 30, 2023.
Investment	Investments The Company holds a minority interest in Wugen which is accounted for using the measurement alternative whereby the investment is recorded at cost less impairment, adjusted for observable price changes in orderly transactions for an identical or similar investment of the same investee. No impairment has been recognized on the minority interest in Wugen as of June 30, 2023. As of December 31, 2022 and June 30, 2023, the Company included $ 1.6 million for the investment in Wugen in Investments in the accompanying condensed balance sheets. The Company invests in bills and notes issued by the U.S. Treasury which are classified as trading securities. The Company reported a fair value of $ 9.7 million and $ 10.0 million for the fair value of investments in U.S. Treasury bills as of December 31, 2022 and June 30, 2023, respectively, included in Short-term investments in the accompanying condensed balance sheets.
Operating Leases	Operating Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in Other assets, Accrued liabilities and other current liabilities, and Other liabilities on the accompanying condensed balance sheets. Operating lease Right of Use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. The Company has a lease agreement with lease and non-lease components, which are accounted for separately.
Net Loss Per Share	Net Loss Per Share Basic loss per share of common stock is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during each period. Diluted loss per share of common stock includes the effect, if any, from the potential exercise of stock options and unvested shares of restricted stock, which would result in the issuance of incremental shares of common stock. For diluted net loss per share, the weighted-average number of shares of common stock is the same for basic net loss per share due to the fact that when a net loss exists, dilutive securities are not included in the calculation as the impact is anti-dilutive.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Summary of Basic and Diluted Net Income (Loss) Per Common Share	The following table summarizes the computation of the basic and diluted net loss per share: Three Months Ended June 30, Six Months Ended June 30, 2022 2023 2022 2023 Numerator: Net loss $ ( 3,510,561 ) $ ( 4,304,420 ) $ ( 5,567,768 ) $ ( 9,375,106 ) Denominator: Weighted-average common shares outstanding 35,814,482 35,910,669 35,796,257 35,897,224 Net loss per share, basic and diluted $ ( 0.10 ) $ ( 0.12 ) $ ( 0.16 ) $ ( 0.26 )
Summary of Outstanding Potentially Dilutive Securities	The following table summarizes the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because their inclusion would be anti-dilutive: At June 30, 2022 2023 Common stock options 1,924,317 1,873,806 Potentially diluted securities 1,924,317 1,873,806

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Summary of assets and liabilities that are measured at fair value on a recurring basis	The following table presents the Company’s assets which were measured at fair value at December 31, 2022 and June 30, 2023: At December 31, 2022: Level 1 Level 2 Level 3 Total Assets: Money market funds $ 19,458,020 $ — $ — $ 19,458,020 Treasury notes 9,735,930 — — 9,735,930 Total $ 29,193,950 $ — $ — $ 29,193,950 At June 30, 2023: Level 1 Level 2 Level 3 Total Assets: Money market funds $ 6,422,104 $ — $ — $ 6,422,104 Treasury notes 9,959,370 — — 9,959,370 Total $ 16,381,474 $ — $ — $ 16,381,474

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Summary of components of the lease expense	The components of the lease expense for the three and six months ended June 30, 2023 were as follows: For the Three Months For the Six Months Ended June 30, 2023 Operating lease cost $ 42,413 $ 84,825
Summary of supplemental cash flow information related to lease	Supplemental cash flow information related to lease for the six months ended June 30, 2023 was as follows: For the Six Months Ended June 30, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows $ 84,040 Right-of-use assets obtained in exchange for lease obligations: Operating lease $ 80,036
Supplemental balance sheet information related to lease	As of June 30, 2023, the supplemental balance sheet information related to leases was as follows: As of June 30, 2023 Operating lease right-of-use assets $ 110,561 Operating lease liabilities, current $ 112,232
Schedule of remaining lease payments	As of June 30, 2023, the remaining lease payments were as follows: 2023 $ 85,661 2024 28,693 Total future minimum lease payments $ 114,354

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenue recognized	$ 622,807	$ 454,000	$ 664,690	$ 3,571,545
Investment impairment charges			0
Investments	1,599,751		1,599,751		$ 1,599,751
Short-term investments	9,959,370		9,959,370		9,735,930
Cash and cash equivalents	7,449,010		7,449,010		22,326,356
Interest reserve receivable	5,300,000		5,300,000
Research and development			52,200,000
U.S. Government Backed Securities [Member]
Short-term investments	10,000,000		10,000,000
U.S. Treasury bills [Member]
Fair value of investments	10,000,000		10,000,000		9,700,000
Wugen License [Member]
Revenue recognized	622,807	$ 454,000	664,690	$ 3,571,545
Investments	$ 1,600,000		$ 1,600,000		$ 1,600,000

Accrued Liabilities and Other_2

Accrued Liabilities and Other Current Liabilities - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2023
Payables And Accruals [Line Items]
Accounts Payable and Accrued Liabilities, Current	$ 1,700,000	$ 2,400,000
short term lease liability		112,232
Current portion of long term debt		97,101
Accrued Expenses Current [Member]
Payables And Accruals [Line Items]
short term lease liability	178,000	112,000
Accounts Payable and Accrued Liabilities [Member]
Payables And Accruals [Line Items]
Legal Proceeding Expenses		994,000
Salaries and Employee Benefits	134,000	115,000
Legal Fees	416,000
Clinical Expenses	277,500	377,000
Performance-related bonus payable	$ 524,000	365,000
Patent prosecution strategy and other legal expenses		79,000
Current portion of long term debt		$ 97,101

Debt, Net - Additional Informat

Debt, Net - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Aug. 15, 2022
Line of Credit Facility [Line Items]
Current portion of long term debt	$ 97,101
Debt, Net	6,359,704	$ 6,409,893
Cogent Bank[Member]
Line of Credit Facility [Line Items]
Gross Proceeds			$ 6,500,000
Gross Principal Outstanding	$ 6,500,000
Line Of Credit Facility Frequency Of Payments	interest-only period is one year followed by 48 months of equal payments of principal and interest
Debt Instrument, Maturity Date	Aug. 15, 2027
Credit Facility Interest Rate During Period	5.75%
Debt, Net		$ 6,500,000

Preferred Stock - Additional In

Preferred Stock - Additional Information (Detail) - shares	Jun. 30, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Basic and Diluted Net Income (Loss) Per Common Share (Detail) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss	$ (4,304,420)	$ (5,070,686)	$ (3,510,561)	$ (2,057,207)	$ (9,375,106)	$ (5,567,768)
Denominator:
Weighted-average common shares outstanding, basic	35,910,669		35,814,482		35,897,224	35,796,257
Weighted-average common shares outstanding, diluted	35,910,669		35,814,482		35,897,224	35,796,257
Net loss per share, basic	$ (0.12)		$ (0.1)		$ (0.26)	$ (0.16)
Net loss per share, diluted	$ (0.12)		$ (0.1)		$ (0.26)	$ (0.16)

Net Loss Per Share - Summary _2

Net Loss Per Share - Summary of Outstanding Potentially Dilutive Securities (Detail) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially diluted securities	1,873,806	1,924,317
Common Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially diluted securities	1,873,806	1,924,317

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Assets:
Assets	$ 16,381,474	$ 29,193,950
Money Market Funds [Member]
Assets:
Assets	6,422,104	19,458,020
Treasury Notes [Member]
Assets:
Assets	9,959,370	9,735,930
Level 1 [Member]
Assets:
Assets	16,381,474	29,193,950
Level 1 [Member] | Money Market Funds [Member]
Assets:
Assets	6,422,104	19,458,020
Level 1 [Member] | Treasury Notes [Member]
Assets:
Assets	9,959,370	9,735,930
Level 2 [Member]
Assets:
Assets	0	0
Level 2 [Member] | Money Market Funds [Member]
Assets:
Assets	0	0
Level 2 [Member] | Treasury Notes [Member]
Assets:
Assets	0	0
Level 3 [Member]
Assets:
Assets	0	0
Level 3 [Member] | Money Market Funds [Member]
Assets:
Assets	0	0
Level 3 [Member] | Treasury Notes [Member]
Assets:
Assets	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 0	$ 0
Deferred Tax Assets Valuation Allowance, Percent	100%
Effective Income Tax Rate Reconciliation, Percent	0%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)		3 Months Ended		6 Months Ended
	Apr. 21, 2023 USD ($)	Jun. 30, 2023 USD ($) ft²	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) ft²	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Mar. 01, 2022
Operating Leased Assets [Line Items]
Area of land | ft²		12,250		12,250
Lease term							2 years
Lease termination date				Feb. 29, 2024
Operating Lease, Weighted Average Discount Rate, Percent		6%		6%
Operating Leases, Rent Expense		$ 40,875	$ 49,996	$ 84,825	$ 77,139
Future payment obligations		2,200,000		2,200,000		$ 406,000
Purchase commitment made		495,000		495,000		1,600,000
Deposit for interest reserve		5,250,000		5,250,000		$ 0
Prime Loan[Member]
Operating Leased Assets [Line Items]
Deposit for interest reserve	$ 5,300,000
Debt Issuance Costs		1,800,000		1,800,000
Prime Capital VenturesLLC [Member]
Operating Leased Assets [Line Items]
Gross Principal Outstanding	$ 26.3
Maturity Date	Apr. 20, 2028
Credit Facility Interest Rate During Period	7%
Research and Development Expense [Member]
Operating Leased Assets [Line Items]
Operating Leases, Rent Expense		$ 22,212	$ 25,149	$ 44,424	$ 32,834

Commitments and Contingencies_2

Commitments and Contingencies - Summary of components of the lease expense (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Operating lease cost	$ 42,413	$ 84,825

Commitments and Contingencies_3

Commitments and Contingencies - Summary of supplemental cash flow information related to lease (Detail)	6 Months Ended
	Jun. 30, 2023 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows	$ 84,040
Right-of-use assets obtained in exchange for lease obligations:
Operating lease	$ 80,036

Commitments and Contingencies_4

Commitments and Contingencies - Supplemental balance sheet information related to lease (Detail)	Jun. 30, 2023 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Operating lease right-of-use assets	$ 110,561
Other current liabilities	$ 112,232

Commitments and Contingencies_5

Commitments and Contingencies - Summary of the Future Minimum Payments for the Lease and Sublease Agreements (Detail)	Jun. 30, 2023 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2023	$ 85,661
2024	28,693
Total future minimum lease payments	$ 114,354