Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

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,
	2024			2023
Income tax computed at federal statutory tax rate		21.0	%		21.0	%
Permanent differences		(1.3	)%		(2.1	)%
State taxes, net of federal benefit		4.4	%		6.7	%
Research and development and other tax credits		3.8	%		5.2	%
Change in deferred tax asset valuation allowance		(26.6	)%		(31.0	)%
Loss of Attributes - IRC 382 Ownership Change		(0.3	)%		0.5	%
Other		(1.0	)%		(0.3	)%
		—	%		—	%

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets as of December 31, 2024 and 2023 consist of the following (in thousands):

	December 31,
	2024			2023
Deferred tax assets:
Net operating loss carryforwards	$	41,333		$	29,999
Research and development credits		7,975			5,026
Stock-based compensation		1,062			1,132
Operating lease liabilities		9,184			7,466
Capitalized research & experimental expenditures		24,975			19,036
Deferred revenue		3,234			3,768
Other		785			920
Total gross deferred tax assets		88,548			67,347
Less: valuation allowance		(84,810	)		(59,956	)
Total deferred tax assets		3,738			7,391
Deferred tax liabilities:
Operating lease right-of-use assets		(3,738	)		(7,391	)
Total deferred tax liabilities		(3,738	)		(7,391	)
Net deferred taxes	$	—		$	—