Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Schedule of Federal and State Income Tax Expense

Federal and State income tax expense is as follows:

	For the Years Ended December 31,
	2023			2022
Current
Federal	$	-		$	-
State		-			-
Total current		-			-
Deferred
Federal		(9,627	)		(7,954	)
State		(4,124	)		(1,068	)
Total deferred		(13,751	)		(9,022	)
Change in valuation allowance		13,751			9,022
Total income tax expense (benefit)	$	-		$	-

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets are as follows:

	As of December 31,
	2023			2022
Deferred tax assets:
Net operating loss carry forwards	$	30,731		$	26,768
Capitalized research and development		9,611			3,418
Stock option expense		4,464			2,477
Research and development credits		4,824			3,710
Operating lease liability		1,485			1,481
RSU expense		2,723			2,199
Other		467			408
Total deferred tax assets		54,305			40,461
Valuation allowance		(52,734	)		(38,983	)
Deferred tax assets, net of valuation allowance		1,571			1,478
Deferred tax liabilities:
Operating right-of-use asset		(1,430	)		(1,456	)
Other		(141	)		(22	)
Total deferred tax liabilities		(1,571	)		(1,478	)
Deferred tax assets, net of valuation allowance and deferred tax liabilities	$	-		$	-

Schedule of Federal Income Tax to Income Before Provision for Income Taxes

A reconciliation of the provision for income taxes with the amounts computed by applying the statutory Federal income tax to income before provision for income taxes is as follows:

	For the Years Ended December 31,
	2023			2022
U.S. federal statutory rate		(21.0	)%		(21.0	)%
State taxes, net of federal benefit		(7.8	)%		(2.2	)%
State rate change		(4.0	)%		-	%
Research and development credits		(2.4	)%		(3.3	)%
True-up to prior years return		2.2	%		(0.7	)%
Stock-based compensation		(1.3	)%		0.1	%
Other		0.4	%		(0.3	)%
Goodwill impairment		-	%		10.4	%
Change in valuation allowance		33.9	%		17.0	%
Effective tax rate		-	%		-	%