Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Benefit for Income Taxes

The components of the provision expense (benefit) were as follows for the years ended December 31, 2023, 2022 and 2021 (in thousands):

	Year Ended December 31,
	2023			2022			2021
Current income tax expense (benefit):
Federal	$	—		$	—		$	—
State		13			4			5
Total current		13			4			5
Deferred income tax expense (benefit):
Federal		(16,514	)		(10,396	)		(12,981	)
State		(11,247	)		(1,851	)		(2,472	)
Total deferred		(27,761	)		(12,247	)		(15,453	)
Changes in tax rate		(1,471	)		1,347			31
Changes in valuation allowance		29,232			10,900			15,422
Total income tax expense from continuing operations	$	13		$	4		$	5

Schedule of Deferred Tax Liabilities and Related Valuation Allowance

The components of the Company’s net deferred tax liabilities and related valuation allowance are as follows as of December 31, 2023 and 2022 (in thousands):

	Year Ended December 31,
	2023			2022
Deferred tax assets:
Net operating loss carryforwards	$	71,434		$	48,984
Debt related interest		16,898			15,272
Capitalized research and development		4,936			2,014
Tax credit carryforwards		3,960			1,630
Stock based compensation		525			1,602
Accrued expense and reserves		1,584			568
Operating lease liabilities		774			315
Other		159			77
Total deferred tax assets		100,270			70,462
Less valuation allowance		(96,776	)		(67,543	)
Total deferred tax assets		3,494			2,919
Deferred tax liabilities:
Intangible assets		(2,734	)		(2,666	)
Operating lease right-of-use assets		(760	)		(253	)
Total deferred tax liabilities		(3,494	)		(2,919	)
Net deferred tax liabilities	$	—		$	—

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between U.S. federal income taxes at the statutory rate and the Company’s provision for income taxes are as follows for the years ended December 31, 2023, 2022 and 2021 (in thousands):

	Year Ended December 31,
	2023			2022			2021
Income tax benefit at federal statutory rate	$	(24,007	)	$	(4,905	)	$	(19,150	)
Valuation allowance		29,232			10,900			15,422
Debt discount and interest limitation		—			(9,293	)		8,954
Compensation expense		3,798			2,469			224
Acquisition related charges		260			992			75
Prior year true-up and carryback		(5,079	)		(713	)		(3,968	)
State, net of federal tax benefit		(5,127	)		(174	)		(2,545	)
Change in fair value of Convertible Debentures		1,752			—			—
Change in tax rates		(1,471	)		—			—
Other		655			728			993
Income tax expense	$	13		$	4		$	5

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax expense (benefits) is as follows for the years ended December 31, 2023, 2022 and 2021 (in thousands):

	2023		2022		2021
Beginning balance	$	408	$	408	$	406
Increase related to prior year tax positions		536		—		2
Increases related to current year tax positions		127		—		—
Ending balance	$	1,071	$	408	$	408