Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense (benefit) were as follows (in thousands):

	Year Ended December 31,
	2024		2023
Current
Federal	$	—	$	(164)
State	1		(15)
Total current	1		(179)
Deferred
Federal	—		—
State	—		—
Total deferred	—		—
Total income tax expense (benefit)	$	1	$	(179)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the Company’s income tax expense (benefit) to the amount computed by applying the federal statutory income tax rate is summarized as follows (in thousands):

	Year Ended December 31,
	2024		2023
Expected tax benefit computed at federal statutory rate	$	(10,452)	$	(14,731)
State income taxes, net of federal tax benefit	(2,117)		(1,153)
Research and development credit carryforwards	(2,119)		(5,472)
Reserve for uncertain tax positions	2,328		1,517
Prior year permanent differences	586		(699)
Current year permanent differences	377		120

Other	515		236
Change in valuation allowance	10,883		20,003
Income tax expense (benefit)	$	1	$	(179)

Schedule of Deferred Tax Assets and Liabilities

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

	Year Ended December 31,
	2024		2023
Deferred tax assets
Net operating loss carryforwards	$	15,543	$	3,975
Research and development credit carryforwards	8,162		6,269
Capitalized research and development	28,294		15,282
Other	1,795		1,284
Total deferred tax assets	53,794		26,810
Valuation allowance	(53,174)		(26,736)
Net deferred tax assets	620		74
Deferred tax liabilities
Other	(620)		(74)
Total deferred tax liabilities	620		74
Net deferred tax assets	$	—	$	—

Summary of Operating Loss Carryforwards and Tax Credit Carryforwards

At December 31, 2024, the Company's federal and state net operating loss (NOL) and tax credit carryforwards were as follows:

	Amount		Expiration Years
Net operating losses, federal (starting from January 1, 2018)	$	72,899	Do not expire
Net operating losses, state	3,908		2040 - 2044
Tax credits, federal	7,646		2040 - 2044
Tax credits, state	653		2042

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the changes to the Company’s gross unrecognized tax benefits (in thousands):

	Year Ended December 31,
	2024		2023
Balance at beginning of year	$	1,953	$	131
Increases (decreases) related to prior year tax positions	(5)		6
Increases related to current year tax positions	2,334		1,816
Balance at end of year	$	4,282	$	1,953