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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Reconciliation of Income Taxes Computed by Applying Statutory Federal Income Tax Rate
A reconciliation of the federal statutory income tax rate and the Company’s effective income tax rate is as follows (in thousands):
Year Ended December 31,
202420232022
Income tax expense (benefit) at statutory rates$(67,683)$(44,566)$(36,539)
State income tax, net of federal benefit(8,170)(5,882)(11,821)
Permanent items66 51 1 
Reserve for uncertain tax positions10,572 5,993 2,583 
Research and development tax credits(42,279)(24,054)(9,983)
Valuation allowance98,813 61,332 54,093 
Stock-based compensation(15,264)3,331 492 
Section 162(m) disallowance20,604 291 1,077 
Rate adjustment2,766 2,526 (5)
Other575 978 102 
Income tax expense (benefit)$— $— $— 
Schedule of Components of Deferred Tax Assets
Significant components of the Company’s deferred tax assets as of December 31, 2024, and 2023 are shown below (in thousands):
December 31,
20242023
Deferred tax assets:
Net operating loss carryforwards$83,371 $72,658 
Section 174 R&E capitalization103,288 52,085 
Research and development tax credits62,793 31,053 
Deferred revenue12,529 125 
Accrued expenses287 2,809 
Intangibles and fixed assets698 1,265 
Lease liabilities1,446 2,342 
Stock-based compensation8,418 12,451 
Total deferred tax assets272,830 174,788 
Less valuation allowance(271,636)(172,822)
Net deferred tax assets1,194 1,966 
Deferred tax liabilities:
Right-of-use assets(1,194)(1,966)
Total deferred tax liabilities(1,194)(1,966)
Net deferred tax assets$— $— 
Schedule of Activity Related to Gross Unrecognized Tax Benefits
The following table summarizes the activity related to the Company’s gross unrecognized tax benefits for the years ended December 31, 2024, 2023 and 2022 (in thousands):
Year Ended December 31,
202420232022
Gross unrecognized tax benefits at the beginning of the year$11,049 $4,771 $1,996 
Increases related to current year positions11,110 6,156 2,614 
Increases related to prior year positions— 122 161 
Gross unrecognized tax benefits at the end of the year$22,159 $11,049 $4,771