Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of U.S Federal Statutory Income Tax Rate to Company's Effective Income Tax Rate

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is as follows:

	Year Ended December 31,
	2024			2023(1)			2022(1)
Federal statutory income tax rate		(21.0	)%		(21.0	)%		(21.0	)%
Research and development tax credits		(1.8	)		(2.5	)		(4.2	)
State taxes, net of federal benefit		(3.6	)		(7.2	)		(3.9	)
Stock-based compensation		1.0			0.8			0.7
Uncertain tax position reserves		0.4			0.5			6.3
Other		(0.4	)		(0.1	)		0.2
Change in deferred tax asset valuation allowance		25.4			29.5			21.9
Effective income tax rate		—	%		—	%		—	%

[1] Prior period amounts have been retrospectively adjusted to reflect the effects of the Transaction.

Schedule of Net Deferred Tax Assets

Net deferred tax assets as of December 31, 2024 and 2023 consisted of the following:

	December 31,
	2024			2023
Deferred tax assets:
Net operating loss carryforwards	$	156,157		$	142,506
Research and development tax credit carryforwards		54,648			52,843
Section 174 capitalized research and development expenses		53,600			55,572
Stock-based compensation expense		28,819			25,898
Lease liability		23,917			29,855
Deferred revenue		—			27,452
Accrued expenses		7,032			3,540
Section 163(j) limitation		5,599			3,741
Depreciation and amortization		953			398
Other		132			169
Total deferred tax assets	$	330,857		$	341,974
Deferred tax liabilities:
Depreciation and amortization		—			—
Right of use assets		(21,115	)		(29,165	)
Total deferred tax liabilities		(21,115	)		(29,165	)
Valuation allowance	$	(309,742	)	$	(312,809	)
Net deferred tax assets	$	—		$	—

Summary of Changes In Valuation Allowance for Deferred Tax Assets

Changes in the valuation allowance for deferred tax assets during the years ended December 31, 2024, 2023 and 2022 related primarily to the increases in NOLs, research and development tax credit carryforwards and capitalized research and development expenses pursuant to IRC Section 174, and stock-based compensation were as follows:

	Year Ended December 31,
	2024			2023			2022
Valuation allowance at beginning of year	$	(312,809	)	$	(277,370	)	$	(220,114	)
Decreases recorded as benefit to income tax provision		3,067			—			—
Increases recorded to income tax provision		—			(35,439	)		(57,256	)
Valuation allowance as of end of year	$	(309,742	)	$	(312,809	)	$	(277,370	)

Schedule of Change In Unrecognized Tax Benefits Roll Forward

The changes in the Company's unrecognized tax benefits for the years ended December 31, 2024, 2023, and 2022 were as follows:

	Year Ended December 31,
	2024		2023		2022
Balance at beginning of year	$	13,529	$	12,528	$	—
Increase in unrecognized tax benefits as a result of tax positions taken    during the year		486		1,001		12,528
Reduction to unrecognized tax benefits		—		—		—
Balance at end of year	$	14,015	$	13,529	$	12,528