Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Summary of Income Tax Benefits Due to the Losses Incurred

During the years ended December 31, 2022 and 2021, the Company recorded no income tax benefits due to the losses incurred and the uncertainty of future taxable income. For financial reporting purposes, net loss before income taxes, includes the following components:

	Years Ended December 31,
	2022			2021
	(in thousands)
Domestic	$	(102,835	)	$	(153,426	)
Foreign		149			104
Total	$	(102,686	)	$	(153,322	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the expected income tax (benefit) computed using the federal statutory income tax rate to the Company’s effective income tax rate is as follows:

	Years Ended December 31,
	2022			2021
Federal statutory rate%		21.0	%		21.0	%
State rate, net of federal benefit%		2.1	%		7.5	%
Change in valuation allowance%		(28.6	)%		(28.0	)%
Tax credits generated%		3.0	%		3.3	%
Stock-based compensation%		1.0	%		(2.6	)%
Warrant revaluation%		2.5	%		1.5	%
Permanent differences%		(0.8	)%		(2.5	)%
Other Items		(0.1	)%		(0.3	)%
Effective tax rate%		0.1	%		-0.1	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consist of the following:

	Years Ended December 31,
	2022			2021
	(in thousands)
Federal and state net operating carryforwards	$	86,745		$	70,569
Research and development and other credits		17,903			13,046
Stock-based compensation		1,674			1,742
Capitalized R&D		10,487			—
Lease Liabilities		2,245			—
Other		1,707			4,359
Gross deferred tax assets		120,761			89,716
Valuation allowance		(118,971	)		(89,633	)
Right of use asset		(1,743	)		—
Net deferred tax assets	$	47		$	83