Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of the components of the provision for income taxes

The components of the provision for income taxes consisted of the following (in thousands):

	Year ended December 31,
	2021		2020
Provision for federal income taxes	$	—	$	—
Provision for state income taxes	—		2
Provision for income taxes	$	—	$	2

Schedule of tax rate reconciliation

The reconciliation of taxes at the statutory rate to our provision for income taxes was as follows (in thousands):

	Year ended December 31,
	2021		2020
Tax at the statutory rate	$	(72,821)	$	(18,204)
State tax – net of federal benefit	(21,015)		(8,464)
Officer compensation	6,749		28
Cancellation of debt income	—		(1,060)
Earnout Liability	(21,934)		(24,229)
Interest Expense	—		2,217
Stock Compensation	9,136		16,435
Provision to Return	(330)		(1,403)
U.S. Tax Credits	(4,528)		(2,450)
Other Rate Impacting Items	988		(642)
Change in valuation allowance	103,755		37,774
Provision for income taxes	$	—	$	2

Schedule of deferred income tax assets

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

	December 31,
	2021		2020
Net operating loss carry-forwards	$	165,032	$	72,092
Research and development credits	12,864		7,695
Stock-based compensation	6,264		1,183
Other	1,207		998
Total gross deferred income tax assets	185,367		81,968
Less: Valuation allowance	(185,367)		(81,968)
Net deferred income tax assets	$	—	$	—

Schedule of valuation allowance on the deferred income tax assets

The following table summarizes the activity recorded in the valuation allowance on the deferred income tax assets (in thousands):

Valuation allowance at December 31, 2019	$	(41,844)
Additions charged to income tax provision	(37,774)
Other changes to valuation allowance	(2,350)
Valuation allowance at December 31, 2020	(81,968)
Additions charged to income tax provision	(103,755)
Other changes to valuation allowance	356
Valuation allowance at December 31, 2021	$	(185,367)

Schedule of changes in unrecognized tax benefits

The aggregate changes in the balance of gross unrecognized tax benefits during the years ended December 31, 2021 and 2020 were as follows (in thousands):

Balance at December 31, 2019	$	(8,427)
Increases in balances related to tax positions taken during current period	(29,812)
Reductions related to changes in estimates	3,230
Other increases	(549)
Balance at December 31, 2020	(35,558)
Increases in balances related to tax positions taken during current period	(4,529)
Increases related to changes in estimates	$	(640)
Other decreases	469
Balance at December 31, 2021	$	(40,258)