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Income Taxes (Tables)

12 Months Ended

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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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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