Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Statutory Federal Income Tax

A reconciliation of the statutory federal income tax with the provision for income taxes are as follows:

	Year Ended December 31,
	2021				2020
Federal tax at statutory rate		21.0		%		21.0		%
State income tax, net of federal benefit		0.5				2.5
Nondeductible interest		(0.1	)			(4.9	)
Other permanent items		0.4				(1.6	)
Nondeductible impairment		(13.8	)			—
Research credit		0.9				28.8
Change in valuation allowance		(8.9	)			(45.7	)
Effective tax rate	$	—		%		0.1		%

Schedule of Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows (amounts in thousands): 

	December 31,
	2021			2020
Deferred tax assets:
Net operating loss carryforwards	$	34,228		$	7,265
Research and development tax credits		3,732			2,782
Other		1,214			227
Total deferred tax assets		39,174			10,274
Valuation allowance		(38,410	)		(10,255	)
Total gross deferred tax assets, net of valuation allowance		764			19
Deferred tax liabilities:
Other		(764	)		(19	)
Total gross deferred tax liabilities		(764	)		(19	)
Net deferred tax assets / (liabilities)	$	—		$	—

Summary of Changes to Gross Unrecognized Tax Benefits

The following table summarizes the changes to the Company’s gross unrecognized tax benefits for the years ended December 31, 2021 and 2020 (amounts in thousands):

	December 31,
	2021			2020
Balance at the beginning of the year	$	2,404		$	2,210
Decrease related to prior year positions		(24	)		—
Increase related to current year positions		294			194
Balance at the end of the year	$	2,674		$	2,404