Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes

Schedule of reconciliation of income taxes

A reconciliation of the Company’s total tax using the statutory income tax rate to the Company’s total tax using their effective income tax rate is as follows (in thousands):

	For the Year Ended
	December 31,
	2024		2023
Income tax at U.S. federal statutory rate	$	(6,173)	$	(3,643)
State taxes, net of federal benefit		—		—
Valuation allowance		5,735		3,604
Other		438		39
Total income tax	$	—	$	—

Schedule of components of deferred tax assets

The Company’s significant components of deferred tax assets are as follows (in thousands):

	As of December 31,
	2024		2023
Federal net operating loss carryforwards	$	9,903	$	7,235
Capitalized research and development expense		8,652		5,665
Tax credits		417		417
Other		180		100
Net deferred tax assets before valuation allowance		19,152		13,417
Valuation allowance		(19,152)		(13,417)
Net deferred tax assets after valuation allowance	$	—	$	—