Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Reconciliation of Income Tax Expense (Benefit)

A reconciliation of income tax expense (benefit) computed at the statutory federal income tax rate to income taxes as reflected in the consolidated financial statements is as follows:

	2021			2020
Income taxes at U.S. statutory rate		21	%		21	%
State income taxes	6				6
Tax Credit	5				7
Other		0			2
Change in valuation allowance		(32	)		(36	)
Total provision for income taxes		0	%		0	%

Schedule of Components of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred tax assets and liabilities as of December 31, 2021 and 2020 are comprised of the following (in thousands):

	Year Ended December 31,
	2021			2020
Deferred tax assets
Net operating loss carryforwards	$	37,411		$	24,657
Tax credits carryforwards		6,968			3,948
Stock-based compensation		1,268			686
Amortization		493			545
Accruals		545			272
Lease incentive liability		—			17
Lease liability		175			—
Unrealized gains/losses on investments		4			—
Other	31			42
Total deferred tax assets		46,895			30,167
Valuation allowance		(46,742	)		(30,149	)
Net deferred tax assets		153			18
Deferred tax liabilities
Tenant improvement allowance		(12	)		(17	)
Unrealized gains/losses on investments		—			(1	)
Right of Use Asset		(141	)		—
Total deferred tax liabilities		(153	)		(18	)
Net deferred taxes	$	—		$	—