Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Effective Income Tax Rate

The following table presents a reconciliation of the statutory federal rate and the Company’s effective tax rate:

	Year Ended December 31,
	2021			2020
Statutory rate		21.0	%		21.0	%
State tax		(3.9	)%		8.8	%
Tax credits		1.2	%		2.5	%
Change in valuation allowance		(17.0	)%		(32.5	)%
Other		(0.4	)%		0.2	%
Stock compensation		(0.9	)%		—
Effective income tax rate		—	%		—	%

Schedule of Components of Deferred Tax Assets and Liabilities

The following table presents the significant components of the deferred tax assets and liabilities for the periods presented:

	December 31,
	2021			2020
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	13,482		$	4,276
Intangible assets		5,711			8,155
Tax credit carryforwards		2,276			1,407
Stock compensation		505			—
Accrual and other		455			648
Total deferred tax assets		22,429			14,486
Deferred tax liabilities:
Property and equipment		(90	)		(160	)
Total deferred tax liabilities		(90	)		(160	)
Valuation allowance		(22,339	)		(14,326	)
Net deferred taxes	$	—		$	—

Schedule of Pre-Tax Net Operating Losses and Credit Carryforwards

The Company had pre-tax net operating losses and tax credit carryforwards as of December 31, 2021 as follows (in thousands):

	Amount		Expiration Years
Net operating losses, federal	$	59,000	Do not expire
Net operating losses, state		15,631	2038-2041
Tax credits, federal		1,929	2038-2041
Tax credits, state		1,398	N/A

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2021 and 2020 is as follows:

	December 31,
	2021		2020
	(In thousands)
Balance, beginning of year	$	515	$	180
Additions based on tax positions related to current year		317		229
Additions for tax positions of prior years		—		106
Balance, end of year	$	832	$	515