7. Prepaid Expense and Other Current Assets

Schedule of Prepaid Expense and Other Current Assets at March 31, 2023 and December 31, 2022:

 Schedule of Prepaid Expense and Other Current Assets

As of March 31, 2023 and December 31, 2022, the Company had $2,544,713 and $2,844,798 in prepaid expenses, respectively. The balance at March 31, 2023 reflects approximately $2.3 million of prepaid expense to third-party vendors for research and development to be completed, $0.08 million of prepaid financing costs related to the Company’s At-The-Market Program and approximately $0.2 million in prepaid insurance.