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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income Taxes  
Summary of Significant components of the Company’s deferred tax assets

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2020

    

2019

Deferred tax assets

 

 

 

 

 

  

Net operating loss carryforwards

 

$

39,937

 

$

32,704

Research and development credits

 

 

747

 

 

853

Depreciation and amortization

 

 

239

 

 

578

Accrued expenses and other

 

 

611

 

 

259

Inventory reserve

 

 

205

 

 

417

Gross deferred tax asset

 

 

41,739

 

 

34,811

Valuation allowance

 

 

(41,739)

 

 

(34,811)

Net deferred tax asset

 

$

 —

 

$

 —

 

Schedule of Company’s net operating loss (NOL) carryforwards

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2020

    

2019

NOL carryforwards

 

 

 

 

 

 

Federal

 

$

150,642

 

$

122,925

State

 

 

128,912

 

 

106,062

 

Schedule of reconciliation of income tax benefit

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

    

2020

    

2019

 

2018

 

Rate reconciliation

 

  

 

  

 

 

 

Federal tax benefit at statutory rate

 

(21.0)

%  

(21.0)

%

(21.0)

%

State rate, net of federal benefit

 

(4.2)

 

(2.9)

 

(4.7)

 

Permanent differences

 

0.6

 

0.4

 

0.5

 

Research and development

 

0.7

 

(0.7)

 

(0.8)

 

Change in valuation allowance

 

24.0

 

24.2

 

26.3

 

Other

 

(0.1)

 

 —

 

(0.3)

 

Total tax provision

 

 —

%  

 —

%

 —

%