XML 45 R31.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The difference between the provision for income taxes and income taxes computed using the effective U.S. federal statutory rate is as follows (in thousands):

		December 31,
		2024				2023				2022
Tax at statutory federal rate		$	(2,852	)		$	(23,210	)		$	(38,225	)
State tax, net of federal benefit			1,513				(1,460	)			(13,898	)
Research and development credits			—				—				(3,531	)
Stock-based compensation expense			7,968				19,022				5,857
Non-deductible compensation			2,630				(4,682	)			2,104
Employee retention credit adjustment			—				—				(1,265	)
Change in valuation allowance			(10,392	)			7,556				46,452
Provision to return adjustment			285				3,008				—
Other			848				(234	)			2,506
Provision for income taxes		$	—			$	—			$	—

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax assets and liabilities arising from differences between accounting for financial statement purposes and tax purposes, less valuation allowance at year-end are as follows (in thousands):

		December 31,
		2024				2023
Deferred tax assets:
Net operating loss carryforward		$	324,175			$	320,998
Research and development credits			59,168				59,417
Section 174 capitalized research and development			25,117				28,822
Stock-based compensation			5,323				15,413
Lease liabilities			762				1,471
Other			5,262				5,005
Total gross deferred tax assets			419,807				431,126
Deferred tax liabilities:
Right-of-use lease assets			(699	)			(1,362	)
Total gross deferred tax liabilities			(699	)			(1,362	)
Valuation allowance			(419,108	)			(429,764	)
Net deferred tax assets		$	—			$	—

Summary of Unrecognized Tax Benefits

A reconciliation of our unrecognized tax benefits is as follows (in thousands):

		Year Ended December 31,
		2024				2023
Balance at beginning of year		$	10,903			$	11,235
Decrease for tax positions of prior years			—				(332	)
Increase based on tax positions related to current year			—				—
Balance at end of year		$	10,903			$	10,903

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 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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
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 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