Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes

Schedule of components of deferred tax assets and liabilities

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 difference between the provision (benefit) for income taxes and income taxes at the statutory U.S. 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	%

Summary of reconciliation of unrecognized tax benefits

A reconciliation of unrecognized tax benefits at the beginning and end of 2022 and 2021 is as follows (in thousands):

	December 31,
	2022		2021
Balance, beginning of year	$	7,270	$	4,989
Increases due to current year tax positions		3,791		2,281
Decreases due to prior year tax positions		—		—
Balance, end of year	$	11,061	$	7,270