Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022 is as follows:

	Years Ended December 31,
	2023		2022
	(in thousands)
Current:
Federal	$	—	$	—
State	569		—
Foreign	104		—
Total current	$	673	$	—
Deferred:
Federal	—		—
State	—		—
Total deferred	$	—	$	—
Total provision for income taxes	$	673	$	—

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes 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, 2023 and 2022:

	Years Ended December 31,
	2023		2022
	(in thousands)
Tax benefit at federal statutory rate	$	(11,169)	$	(15,725)
Non-deductible compensation	2,342		(1,092)
State tax, net of federal benefit	(9,393)		(3,227)
Valuation allowance	17,251		18,834
Shortfall of stock compensation deduction	2,666		3,190
Non-taxable warrants	(1,613)		(2,481)
Other	589		501
Income tax expense	$	673	$	—

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities as of December 31, 2023 and 2022, consisted of the following:

	December 31,
	2023		2022
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	68,374	$	54,892
Sec. 163(j) carryforward	9,214		7,741
Accruals and reserves	1,841		1,613
Deferred revenue	194		271
Capital loss carryforward	4,004		3,919
Section 174 - research expenditures	7,914		6,238
Other deferred tax assets	6,604		6,385
Total deferred tax assets	98,145		81,059
Valuation allowance	(97,388)		(80,137)
Total net deferred tax assets	757		922
Deferred tax liabilities
Basis difference in intangibles	(332)		(468)
Other deferred tax liabilities	(425)		(454)
Total deferred tax liabilities	(757)		(922)
Net deferred tax liabilities	$	—	$	—

Summary of Operating Loss Carryforwards

	Tax Effected		Expiration
	(in thousands)
Federal net operating loss (“NOL”) carryforward	$	8,313	2033-2037
Federal NOL carryforward	49,512		Indefinite
Federal capital loss carryforward	4,004		2025
State NOL carryforwards	10,548		2034-2043

Schedule of Unrecognized Tax Benefits Roll Forward

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

	2023		2022
	(in thousands)
Unrecognized tax benefits - January 1	$	9,006	$	8,443
Gross decrease - tax positions in current period	—		—
Gross increase - tax positions in current period	—		563
Unrecognized tax benefits - December 31	$	9,006	$	9,006