INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of significant components of the Company's deferred tax assets

The components of deferred tax assets and liabilities were as follows (in thousands):

	December 31,
	2022		2021
Deferred tax assets:
Accrued compensation	$	296	$	289
Accrued other expense		123		114
Stock compensation		5,303		3,913
Start-up costs and other intangibles		13,727		14,104
Lease liability		157		219
Net operating losses		20,131		13,536
Capitalized Research and Development Expenses		6,387		—
Other		32		22
		46,156		32,197
Less: valuation allowance		(45,923)		(31,939)
Total deferred tax assets		228		258
Deferred tax liabilities:
Depreciation		(89)		(40)
ROU Asset		(138)		(218)
Total deferred tax liabilities		(228)		(258)
Net deferred income taxes	$	—	$	—

Schedule of reconciliation of the total income tax provision tax rate to the statutory federal income tax rate

	December 31,
	2022		2021
Income tax at statutory rate	21.0	%	21.0	%
Convertible notes	(1.80)	%	0.3	%
Stock compensation	(0.5)	%	(0.4)	%
Change in valuation allowance	(18.7)	%	(20.9)	%
Effective tax rate	0.0	%	0.0	%

PRIVETERRA ACQUISITION CORP.

Schedule of significant components of the Company's deferred tax assets

	December 31,		December 31,
	2022		2021
Deferred tax assets
Net operating loss carryforward	$	—	$	25,360
Startup Costs		1,231,442		364,454
Unrealized gain/loss - Trust		(588,900)		—
Total deferred tax assets		642,542		389,814
Valuation allowance		(1,231,441)		(389,814)
Deferred tax assets, net of allowance	$	(588,899)	$	—

Schedule of income tax provision

	December 31,		December 31,
	2022		2021
Federal
Current	$	230,537	$	—
Deferred		(119,370)		(389,814)
State
Current	$	63,893	$
Deferred		(133,358)		—
Change in valuation allowance		841,627		389,814
Provision for income taxes	$	883,329	$	—

Schedule of reconciliation of the total income tax provision tax rate to the statutory federal income tax rate

	December 31,
	2022		2021
Statutory federal income tax rate	21.0	%	21.0	%
State taxes, net of federal tax benefit	5.5	%	0.0	%
State tax credit	(0.2)	%	0.0	%
Deferred tax liability change in rate	(1.4)	%	0.0	%
Business combination expense	0.7	%	0.0	%
Penalties and interest	0.1	%	0.0	%
Offering costs	0.0	%	1.7	%
Change in fair value of warrant liability	(24.5)	%	(27.4)	%
Reduction in deferred underwriting fee	(0.6)	%	0.0	%
Valuation allowance	11.6	%	4.7	%
Income tax provision	12.2	%	0.0	%