Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Federal Statutory Income Tax Rate to Company's Effective Tax Rate

A reconciliation of the federal statutory income tax rate to the Company’s effective tax rate as of December 31, 2022 and 2021 is as follows:

	2022			2021
Tax provision at statutory rate		21.0	%		21.0	%
State taxes, net of federal benefit		5.6	%		5.3	%
Federal tax credits		2.9	%		2.6	%
Permanent items		(1.1	)%		(0.4	)%
Other		0.1	%		(0.3	)%
Decrease in valuation reserve		(28.5	)%		(28.2	)%
Total		0.0	%		0.0	%

Summary of Deferred Tax Assets (Liabilities)

Temporary differences that give rise to significant deferred tax assets (liabilities) as of December 31, 2022 and 2021 are as follows (in thousands):

	2022			2021
Deferred tax assets:
Net operating loss carryforwards	$	40,617		$	36,287
Stock-based compensation expense		1,235			635
Capitalized research and development expenses		10,200			—
Tax credit carryforwards		7,924			5,821
Accrued expenses		—			517
Lease liability		5,461			248
Other		307			194
Total deferred tax assets		65,744			43,702
Deferred tax liabilities:
Right of use asset		(5,412	)		(241	)
Depreciable assets		(207	)		(182	)
Accrued expenses		(93	)		—
Valuation allowance		(60,032	)		(43,279	)
Net deferred tax asset	$	—		$	—