Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022
Provision for federal income taxes	$	—	$	—
Provision for state income taxes	—		—
Provision for income taxes	$	—	$	—

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,
	2023		2022
Tax at the statutory rate	$	(63,374)	$	(102,416)
State tax – net of federal benefit	(15,009)		(25,118)
Officer compensation	—		6,750
Earnout Liability	(624)		(5,469)
Stock Compensation	6,849		5,024
Warrants & Convertible Debt	8,228		—
Provision to Return	(5,052)		(2,958)
U.S. Tax Credits	(7,975)		(8,929)
Other Rate Impacting Items	(1,885)		2,328
Change in valuation allowance	78,842		130,788
Provision for income taxes	$	—	$	—

Schedule of deferred income tax assets and liabilities

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

	December 31,
Deferred Tax Assets:	2023		2022
Net operating loss carry-forwards	$	284,514	$	257,062
Capitalized research and development costs	72,364		35,295
Research and development credits	37,336		25,237
Stock-based compensation	10,809		10,167
Other	3,210		1,674
Total gross deferred income tax assets	408,233		329,435
Less: Valuation allowance	(394,997)		(316,155)
Deferred tax assets, net of valuation allowance	$	13,236	$	13,280
Deferred Tax Liabilities:
Warrants	$	(13,236)	$	(13,280)
Total deferred tax liabilities	$	(13,236)	$	(13,280)
Total net deferred tax assets (liabilities):	$	—	$	—

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, 2021	$	(185,367)
Additions charged to income tax provision	(130,788)
Valuation allowance at December 31, 2022	(316,155)
Additions charged to income tax provision	(78,842)
Valuation allowance at December 31, 2023	$	(394,997)

Schedule of unrecognized tax benefits

The aggregate changes in the balance of gross unrecognized tax benefits during the years ended December 31, 2023 and 2022 were as follows (in thousands):

Balance at December 31, 2021	$	(40,258)
Increases in balances related to tax provisions taken during current period	(9,179)
Increases related to changes in estimates	(3,444)
Other decreases	56
Balance at December 31, 2022	(52,825)
Increases in balances related to tax positions taken during current period	(10,701)
Increases related to changes in estimates	(1,647)
Other decreases	250
Balance at December 31, 2023	$	(64,923)