Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax expense computed at the statutory federal income tax rate to income taxes reflected in the consolidated financial statements is as follows:

	Year Ended December 31,
	2023			2022
Income tax computed at federal statutory tax rate		21.0	%		21.0	%
Permanent differences		(2.1	)%		(1.4	)%
State taxes, net of federal benefit		6.7	%		4.9	%
Research and development and other tax credits		5.2	%		4.4	%
Change in deferred tax asset valuation allowance		(31.0	)%		25.8	%
Loss of Attributes - IRC 382 Ownership Change		0.5	%		(54.7	)%
Other		(0.3	)%		—
		—	%		—	%

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets as of December 31, 2023 and 2022 consist of the following (in thousands):

	December 31,
	2023			2022
Deferred tax assets:
Net operating loss carryforwards	$	29,999		$	25,154
Research and development credits		5,026			1,751
Stock-based compensation		1,132			1,295
Operating lease liabilities		7,466			583
Capitalized research & experimental expenditures		19,036			9,076
Deferred revenue		3,768			2,763
Other		920			474
Total gross deferred tax assets		67,347			41,096
Less: valuation allowance		(59,956	)		(40,512	)
Total deferred tax assets		7,391			584
Deferred tax liabilities:
Operating lease right-of-use assets		(7,391	)		(584	)
Total deferred tax liabilities		(7,391	)		(584	)
Net deferred taxes	$	—		$	—