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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Components of Provision for Income Taxes | The components of the provision for income taxes for the years ended December 31, 2022 and 2021 consist of the following:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Current tax provision: |  |  |  |  |  |  |  |
Federal |  | $ | 341 |  |  | $ | — |
State |  |  | 7 |  |  |  | — |
Total tax provision |  | $ | 348 |  |  | $ | — |
Reconciliation of Federal Statutory Income Tax Rate to Company's Effective Tax Rate | The reconciliation of the federal statutory income tax rate to the Company’s effective tax rate for the years ended December 31, 2022 and 2021 are as follows:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Tax at statutory federal rate |  |  | -21.00 | % |  |  | -21.00 | %
State Tax (benefit)—net of federal benefit |  |  | -0.01 | % |  |  | 0.00 | %
Permanent differences |  |  | 1.00 | % |  |  | 0.35 | %
Tax credits |  |  | -42.08 | % |  |  | -5.86 | %
Derecognition due to Sec. 382 and 383 limitations |  |  | 139.00 | % |  |  | 0.00 | %
Change in valuation allowance |  |  | -69.24 | % |  |  | 26.26 | %
Fixed assets other adjustment |  |  | -1.19 | % |  |  | 0.00 | %
Other |  |  | -2.07 | % |  |  | 0.25 | %
Effective tax rate |  |  | 4.41 | % |  |  | 0.00 | %
Significant Components of the Company's Deferred Tax Assets | Significant components of the Company’s deferred tax assets as of December 31, 2022 and 2021 consist of the following (in thousands):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Deferred tax assets: |  |  |  |  |  |  |  |
Accruals and reserves |  | $ | 1,273 |  |  | $ | 1,000 |
Net operating loss carry forwards |  |  | 40,770 |  |  |  | 47,541 |
Tax credit carry forwards |  |  | 4,463 |  |  |  | 12,939 |
Fixed and intangible assets |  |  | 9,510 |  |  |  | 3 |
Valuation allowance |  |  | (56,016 | ) |  |  | (61,483 | )
Net deferred tax assets: |  | $ | — |  |  | $ | — |
Reconciliation of Beginning and Ending Balance of Unrecognized Tax Benefits | A reconciliation of the beginning and ending balance of the unrecognized tax benefits is as follows (in thousands):
Beginning Balance at January 1, 2021 |  | $ | 2,955 |
Increase/(Decrease) of unrecognized tax benefits taken in prior years |  |  | — |
Increase/(Decrease) of unrecognized tax benefits related to current year |  |  | 1,749 |
Ending Balance at December 31, 2021 |  | $ | 4,704 |
Increase/(Decrease) of unrecognized tax benefits taken in prior years |  |  | (2,841 | )
Increase/(Decrease) of unrecognized tax benefits related to current year |  |  | 20 |
Ending Balance at December 31, 2022 |  | $ | 1,883 |

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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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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