Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Benefit Attributable to Our Loss from Operations

Income tax benefit attributable to the Company’s loss from operations before income taxes differs from the amounts computed by applying the U.S. federal statutory income tax rate of 21% for 2021 and 2020, as a result of the following (in thousands):

	Years ended December 31,
	2021			2020
U.S. federal income tax benefit at statutory rates	$	(4,058	)	$	(2,047	)
State income tax benefit, net of federal benefit		(695	)		(350	)
Change in state tax rate		—			110
Research and experimentation credits		(560	)		(191	)
Deferred tax asset adjustment		—			3
Other		185			103
Change in valuation allowance		5,128			2,363
Income tax benefit	$	—		$	(9	)

Net Deferred Tax Assets and Liabilities

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting and the amounts used for income tax purposes, as well as operating loss and tax credit carryforwards. The income tax effects of temporary differences and carryforwards that give rise to significant portions of the Company’s net deferred tax assets and liabilities consisted of the following (in thousands):

	As of December 31,
	2021			2020
Deferred tax assets:
Net operating loss carryforwards	$	48,520		$	44,142
Charitable contribution carryforwards		443			433
Research and experimentation credits		2,420			1,860
Capitalized intangibles		387			416
Stock-based compensation		152			116
Accrued compensation		196			22
Lease liabilities		119			111
Total deferred tax assets		52,237			47,100
Valuation allowance		(52,118	)		(46,990	)
Deferred tax assets, net of valuation allowance		119			110
Deferred tax liabilities:
Right-of-use asset		(107	)		(105	)
Depreciation and amortization		(12	)		(5	)
Net deferred tax liability	$	—		$	—