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Income Taxes (Tables)
12 Months Ended
Nov. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule of Components of Loss Before Income Taxes
Loss before provision for income taxes includes the following component (in thousands):
November 30,
202420232022
Domestic$(193,299)$(143,948)$(180,360)
$(193,299)$(143,948)$(180,360)
Schedule of Provision for Income Taxes
The provision for income taxes consists of the following (in thousands):
November 30,
202420232022
Current:
Federal$270 $— $— 
State— — — 
Total provision for income taxes$270 $— $— 
Schedule of Reconciliation of Statutory U.S. Federal Rate and Effective Rate
The effective tax rate differs from the federal statutory rate as follows:
November 30,
202420232022
Federal statutory income tax rate21.0 %21.0 %21.0 %
State income tax rate(4.9)14.1 5.9 
Research and development tax credits4.1 4.8 3.5 
Stock-based compensation(1.5)(4.2)(2.0)
Change in valuation allowance(18.6)(35.6)(28.4)
Other(0.1)(0.1)— 
Total— %— %— %
Schedule of Significant Components of Deferred Tax Assets for Federal and State Income Taxes Significant components of the deferred tax assets for federal and state income taxes are as follows (in thousands):
Year ended November 30,
20242023
Deferred tax assets:
Net operating loss carryforwards$91,786 $92,131 
Research and development tax credits48,307 37,052 
Deferred revenue12,683 11,143 
Stock-based compensation5,310 5,472 
Accrued expenses and other liabilities3,199 3,723 
Operating lease liabilities6,125 8,789 
Capitalized research and experimental expenses65,729 44,348 
Gross deferred tax assets233,139 202,658 
Valuation allowance(227,050)(193,717)
Total deferred tax assets6,089 8,941 
Deferred tax liabilities:  
Operating lease right-of-use assets(6,089)(8,941)
Total deferred tax liabilities(6,089)(8,941)
Net deferred tax assets$— $— 
Schedule of Reconciliation of Beginning and Ending Amounts of Unrecognized Income Tax Benefits
A reconciliation of the beginning and ending amounts of unrecognized income tax benefits during the years ended November 30, 2024, 2023 and 2022 is as follows (in thousands):
Years ended November 30,
202420232022
Balance at beginning of period$15,508 $10,261 $6,331 
Additions based on tax positions related to current period6,358 5,247 3,930 
Balance at end of period$21,866 $15,508 $10,261