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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Statutory Tax Rates Applicable to Income of Company and Subsidiaries

The Company is taxed according to U.S. federal and state tax laws and Israeli tax laws. The statutory tax rates applicable to the income of the Company and its subsidiaries for the periods presented are as follows:

		Year Ended December 31,
		2021				2020
89bio, Inc.			21	%			21	%
89Bio Ltd.			23	%			23	%
89bio Management, Inc.			21	%			21	%
UAB 89bio Lithuania			15	%			15	%

Summary of Income Tax Benefit (Expense)

The income tax benefit is comprised of (in thousands):

		Year Ended December 31,
		2021				2020
Current:
Federal		$	—			$	(11	)
State			(2	)			1
Foreign			(1	)			—
Total			(3	)			(10	)
Deferred:
Federal			150				69
Total			150				69
Income tax benefit		$	147			$	59

Summary of Components of Deferred Tax Assets

Significant components of the Company’s deferred tax assets for the periods presented are as follows (in thousands):

		As of December 31,
		2021				2020
U.S. net operating loss carryforwards		$	29,094			$	11,342
Research and development expenses			6,529				5,392
Israel net operating loss carryforwards			4,262				3,978
Stock-based compensation			1,969				610
Accrued expenses			220				635
Other			191				48
Total deferred tax assets			42,265				22,005
Less: valuation allowance			(42,046	)			(21,936	)
Net deferred tax assets		$	219			$	69

Summary of Loss from Operations Before Taxes on Income

The Company recorded a loss from operations, before income tax for the periods presented as follows (in thousands):

		Year Ended December 31,
		2021				2020
United States		$	(91,141	)		$	(58,760	)
Lithuania			10				(73	)
Israel			862				9,275
Net loss before income tax		$	(90,269	)		$	(49,558	)

Summary of Reconciliation of Income Tax Benefit (Expense) Statutory Tax Rate to Effective Tax Rate

The reconciliation of income tax benefit based on the statutory tax rate to the effective tax rate for the periods presented is as follows (in thousands):

		Year Ended December 31,
		2021				2020
Income tax benefit computed at statutory rates		$	18,757			$	8,285
Change in valuation allowance			(20,111	)			(11,914	)
Foreign rate differential			(19	)			1,671
Change in Israel effective tax rate due to the 2019    reorganization			(2	)			647
Research and development credits, net of    uncertain tax position			1,331				815
Other			191				555
Income tax benefit		$	147			$	59

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Schedule of effective income tax rate of company and subsidiaries.

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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.

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 9
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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.

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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-Publisher FASB
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-SubTopic 10
-Section 50
-Paragraph 12
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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