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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Expected Income Tax (Benefit) Computed Using Federal Statutory Income Tax Rate to Effective Income Tax Rate

A reconciliation of the expected income tax (benefit) computed using the federal statutory income tax rate to the Company’s effective income tax rate is as follows for the year ended December 31, 2020 and 2019:

		December 31,
		2020				2019
Income tax computed at federal statutory rate			21	%			21.0	%
State taxes, net of federal benefit			5.7	%			7.0	%
Change in valuation allowance			(27.3	)%			(31.0	)%
R&D credit carryovers			7.6	%			4.1	%
Stock-based compensation			(6.7	)%			(0.9	)%
Permanent differences			(0.3	)%			(0.2	)%
Total			0.0	%			0.0	%

Summary of Deferred Tax Assets

The Company’s deferred tax assets at December 31, 2020 and 2019, consist of the following:

		December 31,
		2020				2019
Deferred tax assets:
Net operating losses		$	48,832			$	42,647
Tax credit carryforwards			10,270				6,309
Lease liability			6,430				6,542
Intangibles			1,469				1,498
Stock-based compensation			4,496				534
Depreciation and amortization			230				188
Other			14				13
Total gross deferred tax asset			71,741				57,731
Valuation allowance			(65,813	)			(51,537	)
Net deferred tax asset			5,928				6,194
Deferred tax liability
Operating lease assets			(5,928	)			(6,194	)
Total deferred tax liability			(5,928	)			(6,194	)
		$	—			$	—

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- References

No definition available.

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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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