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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Summary of Reconciliation of U.S. Federal Statutory Income Tax Rate to Company's Effective Income Tax Rate | A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate was as follows:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Federal statutory income tax rate ate |  |  | 21.00 | % |  |  | 21.00 | %
State taxes |  |  | 1.10 |  |  |  | 1.94 |
Others |  |  | (0.69 | ) |  |  | (0.26 | )
Research and development credits |  |  | 1.11 |  |  |  | 1.01 |
Cancellation of debt income |  |  | — |  |  |  | — |
Tranche liability |  |  | — |  |  |  | (3.06 | )
Interest expense |  |  | — |  |  |  | — |
Stock-based compensation |  |  | (0.97 | ) |  |  | (0.96 | )
Change in valuation allowance |  |  | (21.55 | ) |  |  | (19.67 | )
Provision for taxes |  |  | 0.00 | % |  |  | 0.00 | %
Summary of Net Deferred Tax Assets and Liabilities | Net deferred tax assets and liabilities consisted of the following (in thousands):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating losses—non-current |  | $ | 15,940 |  |  | $ | 12,006 |
Capitalized R&D |  |  | 13,815 |  |  |  | — |
General business credit—non-current |  |  | 5,699 |  |  |  | 2,682 |
Operating lease right-of-use assets |  |  | 1,220 |  |  |  | 2,368 |
Stock based compensation |  |  | 1,703 |  |  |  | 784 |
Accruals and reserves |  |  | 735 |  |  |  | 525 |
Fixed assets |  |  | 170 |  |  |  | 396 |
Other |  |  | 3 |  |  |  | 2 |
Gross deferred tax assets |  |  | 39,285 |  |  |  | 18,763 |
Valuation allowance |  |  | (38,110 | ) |  |  | (16,332 | )
Net deferred tax assets |  |  | 1,175 |  |  |  | 2,431 |
Fixed asset basis |  |  | — |  |  |  | — |
Operating lease liabilities |  |  | (1,175 | ) |  |  | (2,431 | )
Other |  |  | — |  |  |  | — |
Gross deferred tax liabilities |  |  | (1,175 | ) |  |  | (2,431 | )
Valuation allowance |  | $ | — |  |  | $ | — |
Summary of Net Operating Losses and Tax Credit Carryforwards | Net operating losses and tax credit carryforwards were as follows as of December 31, 2022 (dollars in thousands):
|  | Year Ended December 31, 2022 |
|  | Amount |  |  | Expiration Years |
Net operating losses, federal (starting from January 1, 2018) |  | $ | 75,730 |  |  |  | Do Not Expire |
Net operating losses, state |  |  | 3,195 |  |  |  | 2039 - 2042 |
Tax credits, federal |  |  | 5,309 |  |  |  | 2041 - 2042 |
Tax credits, state |  |  | 592 |  |  |  | Do Not Expire |
Changes in Valuation Allowance for Deferred Tax Assets | During the years ended December 31, 2022 and 2021, the Company recorded a full valuation allowance on federal and state deferred balances since management does not forecast the Company to be in a profitable position in the near future. Changes in the valuation allowance for deferred tax assets during the years ended December 31, 2022 and 2021 related primarily to the increases in net operating loss carryforwards and research and development tax credit carryforwards and were as follows (in thousands):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Valuation allowance at the beginning of the year |  | $ | 16,332 |  |  | $ | 2,414 |
Increases recorded to income tax provision |  |  | 21,778 |  |  |  | 13,918 |
Valuation allowance at the end of the year |  | $ | 38,110 |  |  | $ | 16,332 |
Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Balance at beginning of year |  | $ | 1,407 |  |  | $ | — |
Additions based on tax positions related to current year |  |  | 1,862 |  |  |  | 1,258 |
Increase (reduction) for prior period positions |  |  | (568 | ) |  |  | 149 |
Unrecognized tax benefit-December 31 |  | $ | 2,701 |  |  | $ | 1,407 |

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