Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022, 2021 and 2020 are as follows:

	December 31,
	2022		2021		2020
Tax effect at statutory rate	21.0	%	21.0	%	21.0	%
State taxes	6.4	%	10.6	%	5.8	%
Stock compensation	0.1	%	9.6	%	(0.9)	%
Permanent differences	0.0	%	0.0	%	0.0	%
Federal research and development credits	1.5	%	7.7	%	3.6	%
Other	(1.8)	%	(5.1)	%	(0.7)	%
Change in valuation allowance	(27.2)	%	(43.8)	%	(28.8)	%
Total	0.0	%	0.0	%	0.0	%

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,
	2022			2021
Deferred Tax Assets:
Federal net operating loss carryforwards	$	32,320		$	25,957
State net operating loss carryforwards		8,835			6,651
Research and development credit carryforwards		17,581			14,611
Lease liabilities		4,011			4,285
Deferred revenue		16,315			27,130
Accruals and reserves, stock and other		10,350			5,156
Capitalized Research and Development		36,435			0
Total deferred tax assets	$	125,847		$	83,790
Valuation allowance	$	(120,096	)	$	(77,990	)
Deferred tax assets	$	5,751		$	5,800
Fixed and intangible assets		(2,187	)		(1,941	)
Right-of-use assets		(3,564	)		(3,859	)
Net deferred tax asset	$	—		$	—