Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Income Tax Expense (Benefit)

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			2022
Expected tax benefit computed at federal statutory rate	$	(14,489	)	$	(12,242	)	$	(13,242	)
State income taxes, net of federal tax benefit		(3,437	)		(2,827	)		(3,754	)
Permanent differences		111			86			(48	)
Equity compensation		(6,448	)		1,289			686
Officer's compensation		6,449			2,192			1,261
Research and development credits		(6,251	)		(4,300	)		(2,930	)
Reserve for uncertain tax positions		1,534			1,058			715
Other		385			124			80
Change in valuation allowance		22,146			14,620			17,232
Income tax expense (benefit)	$	—		$	—		$	—

Schedule of Components of Net Deferred Tax Assets

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

	December 31,
	2024			2023
Deferred tax assets:
Net operating loss carryforwards	$	25,676		$	18,745
Capitalized research and development		26,615			15,698
Lease liability		5,961			6,868
Research and development credit carryforwards		11,286			6,597
Stock-based compensation		3,712			4,005
Other		152			713
Total deferred tax assets		73,402			52,626
Valuation allowance		(66,740	)		(44,981	)
Net deferred tax assets		6,662			7,645
Deferred tax liabilities:
ROU asset		(4,993	)		(5,831	)
Property and equipment		(1,008	)		(1,498	)
Unrealized gains		(560	)		(186	)
Other		(101	)		(130	)
Total gross deferred tax liabilities		(6,662	)		(7,645	)
Net deferred tax assets	$	—		$	—

Summary of Changes to Gross Unrecognized Tax Benefits

The following table summarizes the changes to the Company’s gross unrecognized tax benefits for the years ended December 31, 2024, 2023 and 2022 (in thousands):

	Year Ended December 31,
	2024		2023		2022
Balance at beginning of year	$	2,389	$	1,273	$	510
Increases related to prior year tax positions		—		126		—
Increases related to current year tax positions		1,642		990		763
Balance at end of year	$	4,031	$	2,389	$	1,273