Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Effective Tax Rate and Federal Statutory Tax Rate

A reconciliation of the Company’s effective tax rate and federal statutory tax rate is summarized as follows (in thousands):

	Years Ended December 31,
	2022			2021
Income tax benefit at statutory rates	$	(18,501	)	$	(20,704	)
Permanent items		5			2
Valuation allowance		16,920			20,028
Stock-based compensation		1,307			968
Research and development tax credits		269			(1,572	)
Preferred tranche liability fair value adjustment		—			1,278
Provision for income taxes	$	—		$	—

Summary of Significant Components of Deferred Tax Assets and Liabilities for Federal and State Income Taxes

Significant components of our deferred tax assets for federal and state income taxes are as follows (in thousands):

	December 31,
	2022			2021
Deferred tax assets:
Net operating loss carryforward	$	42,564		$	41,548
Research tax credits		6,928			6,366
Intangible assets		168			186
Reserves and accruals		3,787			827
Stock-based compensation		1,953			1,026
Lease liability		6,600			7,075
Capitalized research and development expenses		13,250			—
Total deferred tax assets		75,250			57,028
Less valuation allowance		(68,192	)		(49,385	)
Net deferred tax assets		7,058			7,643
Deferred tax liabilities:
Right-of-use assets		(6,443	)		(7,101	)
Property and equipment		(472	)		(366	)
Prepaid assets		(143	)		(176	)
Total deferred tax assets		(7,058	)		(7,643	)
Net deferred tax assets	$	—		$	—

Summary of Gross Unrecognized Tax Benefits

The following table summarizes the activity in the Company’s gross unrecognized tax benefits (in thousands):

	Years Ended December 31,
	2022			2021
Balance at beginning of period	$	12,659		$	1,125
Increase related to prior year positions		—			4,139
Decrease related to prior year positions		(5,054	)		—
Increase related to current year positions		6,214			7,395
Balance at end of period	$	13,819		$	12,659