INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Income Taxes By Jurisdiction

The provision for income taxes by jurisdiction consists of the following as of December 31, 2021and 2020 (in thousands):


	2021		2020
U.S. federal:
Current	$	—	$	—
Deferred	—		—
Total U.S. federal	—		—

U.S. state and local:
Current	1		1
Deferred	—		—
Total U.S. state and local	1		1

Foreign:
Current	—		—
Deferred	—		—
Total foreign	—		—

Provision for income taxes	$	1	$	1

Schedule of Income Taxes Differ From The Amounts Computed By Applying The U.S. Federal Income tax rate to pretax income (loss) before income Taxes

Income taxes differ from the amounts computed by applying the U.S. federal income tax rate to pretax income (loss) before income taxes as a result of the following (in thousands):


	2021		2020
Expected income tax benefit	$	(7,554)	$	(5,966)
State income tax (benefit), net of federal benefit	(2,812)		(1,961)
Valuation allowance	10,761		7,732
Permanent differences:
Stock options	255		353
Research & development credit	(617)		(560)
Adjustment to deferred taxes	(55)		400
Foreign rate differential	1		(1)
Other	22		4
Provision for income taxes	$	1	$	1

Schedule of Components of Deferred Income Tax

Deferred income tax consists of the following (in thousands):


	Balance, December 31, 2021		Balance, December 31, 2020
U.S. federal and state deferred tax assets—long term:
Accrued payroll	$	200	$	180
Accrued expenses	54		53
Fixed assets	36		17
Charitable contributions	28		14
Intangibles	473		431
Research & development credit	4,874		3,830
Net operating loss	44,772		35,279
Stock compensation	658		519
Lease liabilities	499		700
New jobs credit	8		8
Total long-term assets	51,602		41,031
Total deferred tax assets	51,602		41,031

U.S. federal and state deferred tax liabilities—long term:
Right of use assets	(432)		(621)
Total deferred tax liabilities	(432)		(621)
Net deferred tax assets - long term	51,170		40,410
Less: Valuation allowance	(51,170)		(40,410)
Net deferred tax assets	$	—	$	—

Foreign deferred tax assets—long term:
Net operating loss	$	8	$	6
Total foreign deferred tax assets	8		6





Less: Valuation allowance	(8)		(6)
Net deferred tax assets	$	—	$	—