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INCOME TAXES - Deferred Tax Assets (Liabilities) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets (liabilities):    
Capitalized research expenses $ 49,054 $ 25,316
Federal net operating loss carryforward 30,714 22,971
Federal and state R&D credits 16,854 8,913
State net operating loss carryforward 6,956 5,197
Stock-based compensation 4,929 4,120
Accrued expenses 1,661 1,499
Lease liability 1,236 1,411
Orphan Drug Credit 606 691
Property and equipment 107 30
Other (15) 53
ROU asset (410) (586)
Total net deferred tax asset 111,692 69,615
Valuation allowance (111,692) (69,615)
Net deferred tax asset (liability)