Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Rate Reconciliation of U.S. Statutory Income Tax Rate to Company's Effective Tax Rate

The rate reconciliation of the U.S. statutory income tax rate to the Company’s effective tax rate for the years ended December 31, 2021, 2020 and 2019 are as follows:

	December 31,
	2021		2020		2019
Tax effect at statutory rate	21.0	%	21.0	%	21.0	%
State taxes	10.6	%	5.80	%	7.0	%
Stock compensation	9.6	%	(0.9)	%	(0.6)	%
Permanent differences	0.0	%	0.00	%	0.0	%
Federal research and development credits	7.7	%	3.60	%	2.0	%
Other	(5.1)	%	(0.7)	%	0.0	%
Change in valuation allowance	(43.8)	%	(28.8)	%	(29.4)	%
Total	0.00	%	0.00	%	0.00	%

Schedule of Significant Components of Net Deferred Income Taxes

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

	December 31,
	2021			2020
Deferred Tax Assets:
Federal net operating loss carryforwards	$	25,957		$	15,621
State net operating loss carryforwards		6,651			3,866
Research and development credit carryforwards		14,611			3,757
Lease liabilities		4,285			4,563
Deferred revenue		27,130			10,313
Accruals and reserves, stock and other		5,156			1,589
Total deferred tax assets	$	83,790		$	39,709
Valuation allowance	$	(77,990	)	$	(34,075	)
Deferred tax assets	$	5,800		$	5,634
Fixed and intangible assets		(1,941	)		(1,506	)
Right-of-use assets		(3,859	)		(4,128	)
Net deferred tax asset	$	—		$	—