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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Summary of Provision For Income Taxes | The Company’s provision for income taxes consists of the following (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Current income tax provision (benefit): |  |  |  |  |  |  |  |
U.S. federal |  | $ | — |  |  | $ | — |
State |  |  | — |  |  |  | — |
Total |  |  | — |  |  |  | — |
Deferred income tax provision (benefit): |  |  |  |  |  |  |  |
U.S. federal |  |  | (14,840 | ) |  |  | (7,671 | )
State |  |  | (4,250 | ) |  |  | (1,954 | )
Total |  |  | (19,090 | ) |  |  | (9,625 | )
Change in valuation allowance |  |  | 19,090 |  |  |  | 9,625 |
Total provision (benefit) for income taxes |  | $ | — |  |  | $ | — |
Schedule Of Reconciliation Of The Statutory US Federal Rate And Effective Rate | A reconciliation of the statutory U.S. federal rate and effective rate is as follows:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
U.S. federal tax |  |  | 21.0 | % |  |  | 21.0 | %
State tax, net of federal benefit |  |  | 6.5 |  |  |  | 6.3 |
Change in valuation allowance |  |  | (29.4 | ) |  |  | (29.9 | )
Research and development tax credits |  |  | 2.0 |  |  |  | 3.2 |
Change in tax rates and other |  |  | (0.1 | ) |  |  | (0.6 | )
Income tax expense |  |  | 0.0 | % |  |  | 0.0 | %
Schedule of Deferred Tax Assets and Liabilities | The significant components of the Company’s deferred income tax assets (liabilities) were as follows (in thousands):
|  | December 31, |
|  | 2021 |  |  | 2020 |
Deferred income tax assets: |  |  |  |  |  |  |  |
U.S. federal net operating loss carryforward |  | $ | 24,692 |  |  | $ | 12,826 |
State net operating loss carryforward |  |  | 7,592 |  |  |  | 3,862 |
Research and development credits |  |  | 3,218 |  |  |  | 1,935 |
Non-qualified stock options |  |  | 1,665 |  |  |  | 75 |
Accrued bonus |  |  | 941 |  |  |  | 297 |
Operating lease liabilities |  |  | 570 |  |  |  | 556 |
Other |  |  | 179 |  |  |  | 173 |
Gross deferred income tax assets |  |  | 38,857 |  |  |  | 19,724 |
Less: Valuation allowance |  |  | (38,725 | ) |  |  | (19,635 | )
Total deferred income tax assets |  |  | 132 |  |  |  | 89 |
Deferred income tax liabilities: |  |  |  |  |  |  |  |
Depreciation |  |  | (132 | ) |  |  | (89 | )
Net deferred income tax assets (liabilities) |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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