Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of the U.S. Statutory Income Tax Rate to the Company's Effective Tax Rate

A reconciliation of the U.S. statutory income tax rate to the Company’s effective tax rate is as follows:

	December 31,
	2023		2022
Federal income tax (benefit) at statutory rate	(21.0)	%	(21.0)	%
Change in state tax rate	0.2	%	(0.5)	%
Permanent items	0.2	%	0.1	%
Prior period adjustments	0.9	%	(3.6)	%
Change in valuation allowance	19.7	%	25.0	%
Effective income tax rate	0.0	%	0.0	%

Summary of Income Tax Contingencies

	December 31,
	2023		2022
	(in thousands)
Balance at January 1	$	2,099	$	2,099
Reductions for tax positions of prior year	—		—
Balance at December 31	2,099		2,099

Schedule of Significant Components of the Company's Deferred Tax Assets

Significant components of the Company’s deferred tax assets are summarized in the table below:

	December 31,
	2023		2022
	(in thousands)
Deferred tax assets:
Federal and state operating loss carryforwards	$	258,836	$	242,584
Equity compensation	25,413		26,243
Capitalized research and development	37,998		26,480
R&D tax credits, net of reserves	18,887		18,887
Disallowed interest	43,239		29,979
Temporary differences	12,362		8,340
Total deferred tax assets	396,735		352,513
Deferred tax liabilities:
Other	(1,154)		(400)
Total deferred tax liabilities	(1,154)		(400)
Valuation allowance	(395,581)		(352,113)
Net deferred tax assets	$	—	$	—