Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

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

The reconciliation of the federal statutory income tax rate to the Company’s effective tax rate is as follows:

	Year Ended December 31, 2019		Year Ended December 31, 2018
Federal statutory tax rate	(21.0	)%	(21.0	)%
State statutory tax rate, net of federal benefit	(7.0	)	(7.0	)
Research and development credits, net of uncertain tax positions	(2.6	)	(2.6	)
Derecognition due to Section 382 and 383	0.9		25.4
Stock-based compensation	0.7		0.5
Permanent items	—		5.6
Change in valuation allowance	29.0		(0.9	)
Total	—	%	—	%

Components of Net Deferred Tax Assets and Liabilities

Significant components of the Company’s net deferred tax assets and liabilities are as follows:

	Year Ended December 31, 2019			Year Ended December 31, 2018
	(in thousands)
Net operating loss carryforwards	$	20,717		$	10,942
Research and development credits	4,809			3,657
Depreciation and amortization	638			729
Accruals	558			569
Deferred rent	—			400
Lease liability	1,980			—
Stock-based compensation	331			213
Capital loss carryforwards	23			23
Other	8			2
Total gross deferred tax assets	29,064			16,535
Valuation allowance	(27,450		)	(16,535		)
	1,614			—
Right-of-use assets	(1,614		)	—
Net deferred tax assets	$	—		$	—

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending balance of the unrecognized tax benefits is as follows:

	Year Ended December 31, 2019		Year Ended December 31, 2018
	(in thousands)
Balance at the beginning of year	$	1,128	$	1,006
Increase (decrease) related to prior year tax positions	47		(77		)
Increase related to current year tax positions	264		199
Balance at the end of year	$	1,439	$	1,128