Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income Pre Tax Net Loss From Operations

For the years ended December 31, 2025 and 2024, the pre-tax net loss from operations by jurisdiction is as follows (in thousands):

	Years Ended December 31,
	2025			2024
U.S.	$	(221,247	)	$	(334,326	)
Foreign		—			—
Total	$	(221,247	)	$	(334,326	)

Reconciliation Between Provision for Income Taxes and Income Taxes Computed Using U.S. Federal Statutory Corporate Tax Rate

A reconciliation between the provision for income taxes and income taxes computed using the U.S. federal statutory corporate tax rate for the year ended December 31, 2025 is as follows (in thousands):

	Year Ended December 31, 2025
Tax computed at federal statutory rate	$	(46,462	)	21.00	%
State tax, net of federal income tax effect (1)		44		(0.02	%)
Non-taxable or nondeductible items:
Permanent items		3,121		(1.41	%)
Stock-based compensation		3,459		(1.56	%)
Change in valuation allowance		40,994		(18.53	%)
Tax credits
Federal research and development credit		(1,391	)	0.63	%
Changes in unrecognized tax benefits		235		(0.11	%)
Provision (benefit) for income taxes	$	—		0	%

(1) The states that contributed to the majority (greater than 50%) of the tax effect in this category are Arizona, California, Massachusetts, New York, and Tennessee for the year ended December 31, 2025.

A reconciliation between the provision for income taxes and income taxes computed using the U.S. federal statutory corporate tax rate for the year ended December 31, 2024 is as follows (in thousands):

	Year Ended December 31, 2024
Income taxes computed at the statutory rate	$	(70,209	)	21.00	%
State income taxes, net of federal benefit		(10,540	)	3.15	%
Permanent items		3,332		(1.00	%)
Officers' compensation		1,637		(0.49	%)
Research and development credit		(1,739	)	0.52	%
Change in state rate		(1,921	)	0.57	%
Change in valuation allowance		79,427		(23.76	%)
Other		13		-
Provision (benefit) for income taxes	$	—		0	%

Components of Deferred Tax Assets

Significant components of the Company’s net deferred tax assets are as follows (in thousands):

	Years Ended December 31,
	2025			2024
Deferred tax assets:
Net operating loss carryforwards	$	240,652		$	195,225
Research credits		14,491			13,554
Intangible assets		33,802			34,749
Other		17,333			11,964
Gross deferred tax assets		306,278			255,492
Less valuation allowance		(305,623	)		(255,342	)
Deferred tax assets, net of valuation allowance		655			150
Deferred tax liabilities:
Other		(655	)		(150	)
Net deferred tax assets	$	—		$	—

Summary of Activity Related to Gross Unrecognized Benefits

The following table summarizes the activity related to the Company's gross unrecognized tax benefits (in thousands):

	Years Ended December 31,
	2025			2024
Beginning balance	$	3,452		$	3,010
Decreases related to prior year tax positions		(64	)		—
Increases related to current year tax positions		287			442
Ending balance	$	3,675		$	3,452