Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

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,
	2021			2020
Income tax computed at federal statutory tax rate		21.0	%		21.0	%
Permanent differences		(0.3	)%		(2.0	)%
State taxes, net of federal benefit		4.9	%		5.4	%
Research and development and other tax credits		4.7	%		2.6	%
Change in deferred tax asset valuation allowance		(30.4	)%		(28.4	)%
Other		0.1	%		1.4	%
		—	%		—	%

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets as of December 31, 2021 and 2020 consist of the following (in thousands):

	December 31,
	2021			2020
Deferred tax assets:
Net operating loss carryforwards	$	46,462		$	35,729
Research and development credits		7,288			5,223
Stock-based compensation		848			322
Operating lease liabilities		382			661
Other		73			140
Total gross deferred tax assets		55,053			42,075
Less: Valuation allowance		(54,697	)		(41,451	)
Total deferred tax assets		356			624
Deferred tax liabilities:
Operating lease right-of-use assets		(356	)		(624	)
Total deferred tax liabilities		(356	)		(624	)
Net deferred taxes	$	—		$	—