Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The Company's provision for income taxes from continuing operations for the years ended December 31, 2022 and 2021 is as follows:

	Years Ended December 31,
	2022		2021
	(in thousands)
Current:
Federal	$	—	$	—
State	—		—
Total current	$	—	$	—
Deferred:
Federal	—		—
State	—		—
Total deferred	$	—	$	—
Total provision for income taxes	$	—	$	—

Schedule of Effective Income Tax Rate Reconciliation

Income tax (benefit) expense differed from the amount computed by applying the federal statutory income tax rate of 21% to loss before income taxes due to the following items for the years ended December 31, 2022 and 2021:

	Years Ended December 31,
	2022		2021
	(in thousands)
Tax benefit at federal statutory rate	$	(15,725)	$	(51,673)
Non-deductible compensation	(1,092)		4,431
State tax, net of federal benefit	(3,227)		(3,296)
Valuation allowance	18,834		25,631
Shortfall of stock compensation deduction	3,190		—
Non-deductible interest	—		21,715
Non-taxable warrants	(2,481)		(5,016)
Uncertain tax position	—		8,449
Other	501		(241)
Income tax (expense) benefit	$	—	$	—

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities as of December 31, 2022 and 2021, consisted of the following:

	December 31,
	2022		2021
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	54,892	$	45,181
Sec. 163(j) carryforward	7,741		6,414
Accruals and reserves	1,613		2,359
Deferred revenue	271		778
Capital loss carryforward	3,919		3,689
Section 174 - research expenditures	6,238		—
Other deferred tax assets	6,385		3,631
Total deferred tax assets	81,059		62,052
Valuation allowance	(80,137)		(61,460)
Total net deferred tax assets	922		592
Deferred tax liabilities
Basis difference in intangibles	(468)		(588)
Other deferred tax liabilities	(454)		(4)
Total deferred tax liabilities	(922)		(592)
Net deferred tax liabilities	$	—	$	—

Summary of Operating Loss Carryforwards

	Tax Effected		Expiration
	(in thousands)
Federal net operating loss (“NOL”) carryforward	$	7,966	2033-2036
Federal NOL carryforward	45,122		Indefinite
Federal capital loss carryforward	3,919		2025
State NOL carryforwards	1,804		2037-2042

Schedule of Unrecognized Tax Benefits Roll Forward

Below is a tabular reconciliation of the total amounts of unrecognized tax benefits:

	2022		2021
	(in thousands)
Unrecognized tax benefits - January 1	$	8,443	$	—
Gross increase - tax positions in current period	—		8,443
Gross increase - tax positions in prior period	563		—
Unrecognized tax benefits - December 31	$	9,006	$	8,443