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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
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, |
|  | 2022 |  |  | 2021 |
89bio, Inc. |  |  | 21 | % |  |  | 21 | %
89Bio Ltd. |  |  | 23 | % |  |  | 23 | %
89bio Management, Inc. |  |  | 21 | % |  |  | 21 | %
UAB 89bio Lithuania |  |  | 15 | % |  |  | 15 | %
Summary of Income Tax (Expense) Benefit | The income tax (expense) benefit for the periods presented is comprised of (in thousands):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Current: |  |  |  |  |  |
Federal |  | — |  |  | — |
State |  |  | (3 | ) |  |  | (2 | )
Foreign |  |  | (16 | ) |  |  | (1 | )
Total |  |  | (19 | ) |  |  | (3 | )
Deferred: |  |  |  |  |  |
Federal |  | — |  |  |  | 150 |
State |  | — |  |  | — |
Foreign |  | — |  |  | — |
Total |  | — |  |  |  | 150 |
Income tax (expense) benefit |  |  | (19 | ) |  |  | 147 |
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, |
|  | 2022 |  |  | 2021 |
U.S. net operating loss carryforwards |  | $ | 45,002 |  |  | $ | 29,094 |
Research and development expenses |  |  | 18,927 |  |  |  | 6,529 |
Israel net operating loss carryforwards |  |  | 7,385 |  |  |  | 4,262 |
Stock-based compensation |  |  | 4,328 |  |  |  | 1,969 |
Accrued expenses |  |  | 317 |  |  |  | 220 |
Operating Lease Liability |  |  | 98 |  |  |  | — |
Other |  |  | 244 |  |  |  | 191 |
Gross deferred tax assets |  |  | 76,301 |  |  |  | 42,265 |
Less: valuation allowance |  |  | (75,982 | ) |  |  | (42,046 | )
Total deferred tax assets |  | $ | 319 |  |  | $ | 219 |
Operating lease right-of-use asset |  |  | (100 | ) |  |  | — |
Total deferred tax liabilities |  |  | (100 | ) |  |  | — |
Net deferred tax assets |  |  | 219 |  |  |  | 219 |
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, |
|  | 2022 |  |  | 2021 |
United States |  | $ | (101,938 | ) |  | $ | (91,141 | )
Lithuania |  |  | (7 | ) |  |  | 10 |
Israel |  |  | (62 | ) |  |  | 862 |
Net loss before income tax |  | $ | (102,007 | ) |  | $ | (90,269 | )
Summary of Reconciliation of Income Tax (Expense) Benefit Statutory Tax Rate to Effective Tax Rate | The reconciliation of income tax (expense) 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, |
|  | 2022 |  |  | 2021 |
Income tax benefit computed at statutory rates |  | $ | 21,429 |  |  | $ | 18,757 |
Change in valuation allowance |  |  | (33,936 | ) |  |  | (20,111 | )
Foreign rate differential |  |  | 1 |  |  |  | (19 | )
State income taxes, net of federal benefit |  |  | 5,824 |  |  |  | — |
State deferred tax true-up due to change in apportionment |  |  | 6,517 |  |  |  | — |
Change in Israel effective tax rate due to the 2019 reorganization |  |  | — |  |  |  | (2 | )
Research and development credits, net of uncertain tax position |  |  | 2,130 |  |  |  | 1,331 |
Other |  |  | (1,984 | ) |  |  | 191 |
Income tax (expense) benefit |  | $ | (19 | ) |  | $ | 147 |
Summary of a Reconciliation of The Unrecognized Tax Benefits | A reconciliation of the unrecognized tax benefits for the year ended December 31, 2022 and 2021 is as follows (in thousands):
|  | As of December 31, |
|  | 2022 |  |  | 2021 |
Balance beginning of year |  |  | 851 |  |  |  | 329 |
Decrease related to prior year positions |  |  | (19 | ) |  |  | (35 | )
Increase related to current year positions |  |  | 752 |  |  |  | 557 |
Balance end of year |  |  | 1,584 |  |  |  | 851 |

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