Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Effective Tax Rate and Federal Statutory Tax Rate

A reconciliation of the Company’s effective tax rate and federal statutory tax rate is as follows (in thousands):

	Years Ended December 31,
	2019			2018
Federal income taxes	$	(7,179	)	$	(1,379	)
State income taxes, net of federal benefit		(968	)		(500	)
Permanent items		873			(147	)
In-process research and development		3,354
Research and development credit carryforwards		(217	)		(468	)
Other, net		18			51
Change in valuation allowance		4,119			2,443
Provision for income taxes	$	—		$	—

Summary of Significant Components of Net Deferred Tax Assets

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

	December 31,
	2019			2018
Deferred tax assets:
Net operating loss carryforwards	$	18,108		$	8,321
Research and development credit carryforwards		1,446			1,231
Accrued expenses		214			24
Capitalized research and development costs		7,688			—
Other, net		143			288
Total deferred tax assets		27,599			9,864
Valuation allowance		(27,546	)		(9,864	)
		53			—
Deferred tax liabilities:
Right of use asset		(53	)		—
Total deferred tax liabilities		(53	)		—
Net deferred tax assets	$	—		$	—