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INCOME TAXES
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
As of June 30, 2024, the Company maintained a full valuation allowance against its net deferred tax assets. The Company continually reviews the adequacy of the valuation allowance and intends to continue maintaining a full valuation allowance on its net deferred tax assets until there is sufficient evidence to support the reversal of all or a portion of the allowance. Should the Company’s assessment change in a future period, it may release all or a portion of the valuation allowance, which would result in a deferred tax benefit in the period of adjustment.
For the three months ended June 30, 2024 and 2023, the Company did not record income tax benefit on loss before tax of $6.42 million and $4.89 million, respectively. For the six months ended June 30, 2024, the Company did not record income tax benefit on loss before tax of $2.78 million. For the six months ended June 30, 2023, the Company did not record income tax expense on income before tax of $109.38 million. The effective tax rate was 0% for the three and six months ended June 30, 2024 and 2023, which was a result of the full valuation allowance on net deferred tax assets.