INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of reconciliation of income tax

The significant differences between the U.S. Federal statutory rate and our effective rate for financial reporting purposes are as follows:

	Years Ended December 31,
	2023		2022
Federal statutory tax rate	(21.0)	%	(21.0)	%
State taxed, net of federal tax benefit	(3.8)		(3.7)
Change in valuation allowance	23.5		14.3
Return-to-provision and other	0.1		7.9
Stock-based compensation	1.2		2.5
Effective tax rate	—	%	—	%

Schedule of deferred tax assets and liabilities

Deferred income tax assets and liabilities consist of the following (in thousands):

	As of December 31,
	2023		2022
Deferred income tax assets:
Federal and state net operating loss carryovers	$	22,167	$	20,498
Capitalized research costs	608		432
Stock-based compensation	260		253
Compensation accruals and other	59		92
Operating leases related to ROU assets	54		89
Deferred revenue	4		11
Depreciation	11		8
Other	2		1
Total deferred income tax assets	23,165		21,384
Valuation allowance for deferred income tax assets	(23,113)		(21,298)
Deferred income tax assets, net of valuation allowance	52		86
Deferred income tax liabilities:
ROU assets	(52)		(86)
Total deferred income tax liabilities	(52)		(86)
Deferred income tax assets, net	$	—	$	—