Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense differs from the amount computed by applying the statutory federal income tax rate due to the following (in thousands):

	Year Ended December 31,
	2021		2020
Federal tax benefits at statutory rate	$	(14,887)	$	(6,859)
State taxes, net of federal benefit	(1,275)		(1,065)
Change in valuation allowance	17,751		6,248
Stock-based compensation tax deduction over book expense	(2,790)		—
Permanent differences	(47)		557
Gain on PrognomIQ transaction	—		1,392
Research and development credits	(1,697)		(104)
Executive compensation limitations	2,806		—
Other	139		(169)
Total income tax expense	$	—	$	—

Schedule of Deferred Tax Assets and Liabilities

The categories that give rise to components of the deferred tax assets are as follows (in thousands):

	December 31,
	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	22,385	$	9,374
Accrued expenses and reserves	1,129		1,336
Research and development credits	2,073		534
Stock-based compensation	4,198		1,782
Lease liabilities	6,182		—
Other	56		13
Gross deferred tax assets	36,023		13,039
Less valuation allowance	(30,194)		(12,443)
Net deferred tax assets	$	5,829	$	596
Deferred tax liabilities:
Fixed assets and intangibles	(490)		(596)
Right-of-use assets	(5,339)		—
Gross deferred tax liabilities	(5,829)		(596)
Total net deferred tax assets (liabilities)	$	—	$	—

Schedule of Unrecognized Tax Benefits Roll Forward

The beginning and ending unrecognized tax benefits amounts is as follows (in thousands):

	December 31,
	2021		2020
Beginning balance	$	337	$	264
Change related to prior year provisions	(154)		(80)
Change related to current year provisions	656		153
Ending balance	$	839	$	337