INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

INCOME TAXES

Schedule of significant components of net deferred tax assets

	December 31,
(In thousands)	2022		2021
Net operating loss carryforward	$	44,249	$	42,696
Research and development credit carryforward		1,718		1,663
Stock-based compensation		359		431
Depreciation and amortization		4		17
Capitalized research expenses		1,226		—
Lease liability		252		344
Right of use asset		(224)		(323)
Other deferred tax liabilities		(225)		—
Accruals and other temporary differences		189		—
Subtotal		47,548		44,828
Valuation allowance		(47,548)		(44,828)
Net deferred taxes	$	—	$	—

Schedule of income tax benefits computed using the federal statutory income tax rate

	December 31,
	2022		2021
Statutory rate	(21.0)	%	(21.0)	%
State taxes, net of benefit	(5.1)	%	(4.7)	%
Permanent differences	0.1	%	0.4	%
Research and development tax credit	(0.7)	%	(0.9)	%
Stock-based compensation	0.9	%	0.2	%
Increase in valuation reserve	25.9	%	26.0	%
Other	(0.1)		—	%
Effective tax rate	(0.0)	%	0.0	%