Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

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,
	2024			2023
Expected federal income tax benefit at statutory rate	$	(5,356	)	$	(6,320	)
Disallowed R&D expenses		3			9
Non-taxable R&D rebate		—			(7	)
Other permanent items		235			738
Return to provision		57			47
Stock-based compensation		246			682
Foreign rate differential		(76	)		(453	)
Other		21			(2	)
Effect of change in valuation allowance		4,870			5,306
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,
	2024			2023
Deferred tax assets
Accrued bonus	$	274		$	238
Accrued vacation		47			50
Stock-based compensation		4,265			4,203
Capitalized R&D expenses		7,825			5,788
Rebate reserve		220			303
Intangible assets, net		181			248
Investment in equity securities		987			628
Net operating loss carryforwards		15,716			13,276
Other		48			6
Total gross deferred tax asset		29,563			24,740
Valuation allowance		(29,516	)		(24,646	)
Net deferred tax assets		47			94
Deferred tax liabilities
Section 481(a) adjustment - bonus compensation		(47	)		(94	)
Net deferred tax assets	$	—		$	—