Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Benefit for Income Taxes

The components of the provision (benefit) expense were as follows for the years ended December 31, 2024 and 2023 (in thousands):

	Year Ended December 31,
	2024			2023
Current income tax (benefit) expense:
Federal	$	—		$	—
State		(1	)		13
Total current income tax (benefit) expense		(1	)		13
Deferred income tax benefit:
Federal		(16,279	)		(16,514	)
State		(2,803	)		(11,247	)
Total deferred income tax benefit		(19,082	)		(27,761	)
Changes in tax rate		2,155			(1,471	)
Changes in valuation allowance		16,927			29,232
Total income tax (benefit) expense from continuing operations	$	(1	)	$	13

Schedule of Deferred Tax Liabilities and Related Valuation Allowance

The components of the Company’s net deferred tax liabilities and related valuation allowance are as follows as of December 31, 2024 and 2023 (in thousands):

	Year Ended December 31,
	2024			2023
Deferred tax assets:
Net operating loss carryforwards	$	85,226		$	71,434
Debt related interest		16,228			16,898
Capitalized research and development		5,228			4,936
Tax credit carryforwards		4,415			3,960
Stock-based compensation		1,157			525
Accrued expense and reserves		1,812			1,584
Purchased revenue liability		1,754			—
Operating lease liabilities		577			774
Other		303			159
Total deferred tax assets		116,700			100,270
Less valuation allowance		(113,703	)		(96,776	)
Total deferred tax assets		2,997			3,494
Deferred tax liabilities:
Intangible assets		(2,423	)		(2,734	)
Operating lease right-of-use assets		(574	)		(760	)
Total deferred tax liabilities		(2,997	)		(3,494	)
Net deferred tax liabilities	$	—		$	—

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between U.S. federal income taxes at the statutory rate and the Company’s provision for income taxes are as follows for the years ended December 31, 2024 and 2023 (in thousands):

	Year Ended December 31,
	2024			2023
Income tax benefit at federal statutory rate	$	(15,290	)	$	(24,007	)
Valuation allowance		18,559			29,232
Compensation expense		2,772			3,798
Acquisition related charges		485			260
Prior year true-up and carryback		(1,182	)		(5,079	)
State, net of federal tax benefit		(2,705	)		(5,127	)
Change in fair value of Convertible Debentures		(4,449	)		1,752
Change in tax rates		2,155			(1,471	)
Other		(346	)		655
Income tax (benefit) expense	$	(1	)	$	13

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows for the years ended December 31, 2024 and 2023 (in thousands):

	2024		2023
Gross unrecognized tax benefits at the beginning of the year	$	1,071	$	408
Increase related to prior year tax positions		—		536
Increase related to current year tax positions		127		127
Gross unrecognized tax benefits at the end of the year	$	1,198	$	1,071