XML 55 R32.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the statutory U.S. federal rate to the Company’s effective tax rate is as follows:
| December 31,
| 2024 |  | 2023
Tax at federal statutory rate | 21.0 | % |  | 21.0 | %
State taxes, net of federal benefit | 6.4 | % |  | 4.5 | %
Research and development tax credit | 5.1 | % |  | 1.8 | %
Stock-based compensation | 5.5 | % |  | (0.8) | %
Nondeductible interest expense | (2.0) | % |  | (0.5) | %
FIN 48 reserve | (1.2) | % |  | (0.3) | %
Change in valuation allowance | (21.8) | % |  | (23.3) | %
Federal net operating loss expiration | (10.2) | % |  | — | %
Other | (2.8) | % |  | (2.4) | %
Total | — | % |  | — | %
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant components of the deferred tax assets and liabilities are as follows (in thousands):
| December 31,
| 2024 |  | 2023
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 42,043 |  |  | $ | 41,864 |
Research and development credits | 14,903 |  |  | 13,069 |
Research and development expenditures, capitalized for tax | 12,283 |  |  | 8,271 |
Fixed assets and inventory | 28 |  |  | 151 |
Accruals and reserves | 1,399 |  |  | 1,633 |
Interest expense carryforward | 5,747 |  |  | 5,033 |
Operating lease liability | 3,515 |  |  | 3,958 |
Other | 1,281 |  |  | 1,718 |
Gross deferred tax assets | 81,199 |  |  | 75,697 |
Deferred tax liabilities: |  |  |
Operating lease right-of-use asset | (3,014) |  |  | (3,436) |
Total deferred tax liabilities | (3,014) |  |  | (3,436) |
Valuation allowance | (78,185) |  |  | (72,261) |
Net deferred tax assets | $ | — |  |  | $ | — |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending unrecognized tax benefit amount is as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023
Beginning balance | $ | 1,730 |  |  | $ | 1,601 |
Increase in balance related to tax positions taken during the current year | 355 |  |  | 136 |
Decrease in balance related to tax positions taken during prior years | — |  |  | (7) |
Ending balance | $ | 2,085 |  |  | $ | 1,730 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration