Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Components of Loss Before Income Taxes

The components of loss before income taxes for the years ended December 31, 2022 and 2021 are as follows (in thousands):

	December 31,
	2022			2021
Domestic	$	(29,326	)	$	(28,705	)
Foreign		(8,824	)		(14,309	)
Total	$	(38,150	)	$	(43,014	)

Components of Benefit for Income Taxes

The components of the benefit for income taxes are as follows for the years ended December 31, 2022 and 2021 (in thousands):

	December 31,
	2022		2021
Current:
Federal	$	—	$	—
State		—		—
Foreign		—		—
Total Current		—		—
Deferred:
Federal		—		—
State		—		—
Foreign		—		—
Total Deferred		—		—
Total income tax expense (benefit)	$	—	$	—

Reconciliation of Expected Income Tax

A reconciliation of the expected income tax results computed using the federal statutory income tax rate to the Company’s effective income tax rate is as follows for the years ended December 31, 2022 and 2021 (in thousands):

	December 31,
	2022			2021
Income tax benefit computed at federal statutory tax rate	$	(8,011	)	$	(9,033	)
Change in valuation allowance		4,286			(12,253	)
Orphan drug & research credits generated		(1,677	)		(1,966	)
Orphan drug & research credit expense disallowance		—			—
Impact of foreign operations		(16	)		(177	)
Sec. 382 Limitation		—			25,249
Foreign deferred tax asset - true up		2,021			(3,833	)
Imputed interest		1,006			1,253
Permanent differences		2,213			738
Other		178			22
Total	$	—		$	—

Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):

	December 31,
	2022			2021
Deferred tax liabilities:
Prepaid assets	$	—		$	—
Other		329			574
Total deferred tax liabilities		329			574
Deferred tax assets:
Net operating loss carryforwards		38,969			36,298
Intangible assets		267			5,380
Amortization		1,165			1,212
Credit carryforwards		5,966			4,351
Section 174 research and development expenses		3,663			—
Accrued liabilities & other		1,203			1,107
Total deferred tax assets		51,233			48,348
Subtotal		50,904			47,774
Valuation allowance		(50,904	)		(47,774	)
Net deferred taxes	$	—		$	—