Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Reconciliation of the U.S. federal statutory income tax rate to the Company's effective income tax rate

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate was as follows:

	Year Ended December 31,
	2021		2020
Federal statutory income tax rate	(21.0)	%	(21.0)	%
State taxes, net of federal benefit	(5.8)		(6.4)
Federal and state research and development tax credits	(4.4)		(3.7)
Other	0.8		(0.5)
Change in deferred tax asset valuation allowance	30.4		31.6
Effective income tax rate	0.0	%	0.0	%

Summary of Net Deferred Tax Assets

Net deferred tax assets consisted of the following (in thousands):

	December 31,
	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	61,083	$	39,289
Research and development tax credit carryforwards	9,367		4,955
Capitalized start-up costs	157		174
Accrued expenses	5,300		1,010
Stock-based compensation	1,403		436
Operating lease liabilities	15,952		17,032
Total deferred tax assets	93,262		62,896
Deferred tax liabilities:
Depreciation	(3,551)		(2,819)
Operating lease right-of-use assets	(10,566)		(11,694)
Total deferred tax liabilities	(14,117)		(14,513)
Valuation allowance	79,145		48,383
Net deferred tax assets	$	—	$	—