Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income (loss) Before Provision for Income Taxes

For financial reporting purposes, income (loss) before provision for income taxes, includes the following components (in thousands):

	December 31,
	2022			2021
Domestic	$	(89,055	)	$	(32,608	)
Foreign		—			—
Loss before income taxes	$	(89,055	)	$	(32,608	)

Schedule of Components of Provision for Income Taxes

The provision for income taxes consisted of the following (in thousands).

	December 31,
	2022		2021
Current:
Federal	$	—	$	—
State		1		1
Total current		1		1
Total deferred		—		—
Provision for income taxes	$	1	$	1

Schedule of reconciliation of the provision for income taxes

A reconciliation of the provision for income taxes computed using the U.S. statutory federal income tax rate compared to the income tax provision included in the statement of operations and comprehensive loss is as follows (in thousands).

	December 31,
	2022			2021
Tax on U.S. statutory rate on income before income taxes	$	(18,702	)	$	(6,847	)
State taxes		3,583			(5,405	)
State valuation allowance		(3,582	)		5,405
Federal valuation allowance		19,643			6,600
Tax credits		(710	)		(209	)
Other		(231	)		457
Provision for income taxes	$	1		$	1

Summary of Deferred Tax Assets and Liabilities

The significant components of the Company’s net deferred tax assets and liabilities are as follows (in thousands).

	December 31,
	2022			2021
Deferred tax assets:
Federal and state NOL carryforward	$	21,945		$	17,469
Research and other credits		3,762			2,671
Capitalized R&D		12,731			—
Fixed assets		2			15
Reserves and accruals		519			947
Stock based compensation		1,430			535
Other intangibles		8,583			12,589
Other DTA		402			266
Lease liability		1,360			—
Total gross DTA		50,734			34,492
Less: valuation allowance		(49,648	)		(34,492	)
Total deferred tax assets		1,086			—
Deferred tax liabilities:
Right of use		(1,086	)		—
Total gross DTL		(1,086	)		—
Net deferred tax assets	$	—		$	—

Summary of Activity Relating to Gross Amount of Unrecognized Tax Benefits

The Company has the following activity relating to the gross amount of unrecognized tax benefits (in thousands):

	Year Ended December 31,
	2022			2021
Beginning balance	$	668		$	663
Additions based on tax positions related to prior year		19			—
Decreases based on tax positions related to prior year		(11	)		(97	)
Additions based on tax positions related to current year		265			102
Ending balance	$	941		$	668