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Income Taxes (Tables)

12 Months Ended

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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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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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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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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