Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Domestic and Foreign Components of Loss Before Income Tax Benefit

The following table presents domestic and foreign components of loss before income tax benefit for the periods presented (in thousands):

	Year Ended December 31,
	2021		2020		2019
U.S.	$	11,297	$	5,868	$	3,633
Non-U.S.		41,230		51,589		68,095
Loss before income tax benefit	$	52,527	$	57,457	$	71,728

Reconciliation Setting Forth Differences Between Effective Tax Rate and U.S. Statutory Tax Rate

A reconciliation setting forth the differences between the Company’s effective tax rate and the U.S. statutory tax rate is as follows (in thousands):

	Year Ended December 31,
	2021			2020			2019
Income tax benefit at federal statutory rate	$	2,373		$	1,232		$	763
State and local income taxes net of federal tax    benefit		7,059			787			247
Federal credits		718			1,210			2,454
IP Transfer		22,176			—			—
Nondeductible/nontaxable permanent items		(1	)		4			(89	)
Share based compensation benefit and other		2			1,644			—
Change in valuation allowance		(32,327	)		(4,877	)		(3,376	)
Income tax benefit	$	—		$	—		$	—
Effective tax rate		0.0	%		0.0	%		0.0	%

Significant Components of Deferred Tax Assets

The significant components of the Company’s deferred tax assets are as follows (in thousands):

	Year Ended December 31,
	2021		2020
Deferred tax assets:
Federal and state net operating loss carryforwards	$	3,495	$	1,012
Credits		9,718		8,903
Deferred rent		4		6
Other accrued liabilities		614		509
Depreciation		3		5
Share based compensation		2,875		2,336
Deferred interest		2,053		1,871
Intangible Assets		28,207		—
Total deferred tax assets		46,969		14,642
Deferred tax liabilities:
Other accrued liabilities		—		—
Depreciation		—		—
Total deferred tax liabilities		—		—
Valuation allowance		46,969		14,642
Net deferred tax liability	$	—	$	—