Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Statutory Federal Income Tax Rate to Company's Effective Tax Rate

The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate:

	Year Ended December 31,
	2024			2023			2022
Federal statutory income tax rate		21.0	%		21.0	%		21.0	%
State income tax rate		6.0	%		11.1	%		0.5	%
Tax credits		2.9	%		4.1	%		1.1	%
Stock-based compensation		(1.0	)%		(1.0	)%		(1.1	)%
Change in valuation allowance		(28.8	)%		(34.6	)%		(21.5	)%
Other		(0.1	)%		(0.6	)%		—
Effective income tax rate		0.0	%		0.0	%		0.0	%

Summary of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consist of the following (in thousands):

	December 31,
	2024			2023
Deferred tax assets:
Net operating loss carryforwards	$	48,853		$	31,469
Capitalized research and development		41,642			25,055
Accrued liabilities and reserves		—			1,562
Stock-based compensation		7,830			4,602
Intangible assets		1,927			1,607
Operating lease liabilities		2,431			2,857
Research and development credits		13,222			7,400
Gross deferred tax assets		115,905			74,552
Valuation allowance		(113,866	)		(71,512	)
Total deferred tax assets		2,039			3,040
Deferred tax liabilities:
Property and equipment		(139	)		(344	)
Operating lease right-of-use assets		(1,900	)		(2,696	)
Total deferred tax liabilities		(2,039	)		(3,040	)
Net deferred tax assets	$	—		$	—

Schedule of Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s gross unrecognized tax benefits (in thousands):

	Year Ended December 31,
	2024			2023		2022
Beginning balance	$	2,216		$	624	$	112
Increases for tax provisions related to prior year		84			227		133
Decreases for tax provision related to prior year		(104	)		—		—
Increases for tax provisions related to current year		1,718			1,365		379
Ending balance	$	3,914		$	2,216	$	624