Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of Effective Income Tax Rate Reconciliation

	December 31,
	2019		2018
Tax computed at federal statutory rate	21.0	%	21.0	%
State income taxes, net of federal benefit	8.3	%	2.0	%
Other	(1.0)	%	(1.5)	%
Tax reform rate change	0.0	%	0.4	%
Change in valuation allowance	(30.4)	%	(24.2)	%
Credits	2.1		2.3	%
Effective income tax rate	0.0	%	0.0	%

Schedule of Deferred Tax Assets and Liabilities

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

	As of December 31,
	2019		2018
Deferred tax assets:
Net operating loss carryforward	$	34,529	$	18,636
Tax credits		7,459		4,121
Intangibles		1,914		1,554
Other		1,379		366
Total deferred tax assets		45,281		24,677
Deferred tax liabilities:
Fixed assets		233		133
Total deferred tax liabilities		233		133
Valuation allowance		(45,048)		(24,544)
Total	$	—	$	—

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the changes in the Company’s unrecognized tax benefits during the periods presented (in thousands):

	As of December 31,
	2019		2018
Beginning of period	$	1,396	$	915
Current period tax position increases		1,097		457
Prior period tax position increases		90		24
End of period		2,583		1,396