Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income tax benefit calculated at the federal statutory rate to total income tax provision is as follows (in thousands):

	Year Ended December 31,
	2023			2022
Expected federal income tax benefit	$	(6,320	)	$	(5,662	)
Disallowed R&D expenses		9			351
Non-taxable R&D rebate		(7	)		(156	)
Other permanent items		738			214
Return to provision		47			862
Stock-based compensation		682			213
Foreign rate differential		(453	)		(270	)
Other		(2	)		27
Effect of change in valuation allowance		5,306			4,421
Income tax benefit	$	—		$	—

Schedule of Deferred Tax Assets and Liabilities

The following table summarizes the significant components of the Company's deferred tax assets and liabilities (in thousands):

	As of December 31,
	2023			2022
Deferred tax assets
Accrued bonus	$	238		$	222
Accrued vacation		50			47
Stock-based compensation		4,203			4,067
Capitalized R&D expenses		5,788			3,155
Rebate reserve		303			—
Intangible assets, net		248			315
Investment in equity securities		628			—
Net operating loss carryforwards		13,276			11,522
Other		6			—
Total gross deferred tax asset		24,740			19,328
Valuation allowance		(24,646	)		(19,327	)
Net deferred tax assets		94			1
Deferred tax liabilities
Section 481(a) adjustment - bonus compensation		(94	)		—
Fixed assets		—			(1	)
Net deferred tax assets	$	—		$	—