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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Loss Before Income Taxes

Loss before income taxes are as follows (in thousands):

		Year Ended December 31,
		2021				2020
Losses before income taxes:
U.S.		$	(37,055	)		$	(23,408	)
Non-U.S.			195				193
Total		$	(36,860	)		$	(23,215	)

Summary of Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes are as follows (in thousands):

		Year Ended December 31,
		2021				2020
Current:
Federal		$	—			$	—
State			—				—
Foreign			—				—
			—				—
Deferred:
Federal			(2,746	)			(404	)
State			392				—
Foreign			—				—
			(2,354	)			(404	)
Provision (benefit) for income taxes		$	(2,354	)		$	(404	)

Reconciliation of U.S. Federal Statutory Income Tax Rate

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is as follows:

		Year Ended December 31,
		2021				2020
Statutory Federal income tax rate		$	(7,741	)		$	(4,875	)
State income taxes, net of Federal tax benefits			(445	)			—
Tax credits			(651	)			(215	)
Change in warrant fair market value			—				1,014
Stock-based compensation			651				252
Goodwill impairment			—				—
Permanent items			2				627
Section 382 limitation on net operating losses and credits			—				10,562
State rate differential			235				—
NOL true-up			(991	)			—
Other			146				89
Change in valuation allowance			6,440				(7,858	)
Total provision (benefit) for income taxes		$	(2,354	)		$	(404	)

Schedule of Significant Components Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2021 and 2020 consisted of the following (in thousands):

		Year Ended December 31,
		2021				2020
Net operating loss carryforwards		$	12,531			$	5,151
Research and development tax credits			1,356				705
Accruals and reserves			296				14
Stock compensation			1,867				802
Depreciation and amortization			1,713				1,905
Lease liability			171				30
Total deferred tax assets			17,934				8,607
Right-of-use asset			(171	)			(29	)
Acquired IPR&D			(7,192	)			(6,801	)
Total deferred tax liabilities			(7,363	)			(6,830	)
Less: valuation allowance			(12,323	)			(5,883	)
Net deferred tax liabilities		$	(1,752	)		$	(4,106	)

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits

The following table reconciles the beginning and ending amounts of unrecognized tax benefits for the years presented (in thousands):

		Year Ended December 31,
		2021				2020
Gross unrecognized tax benefits at the beginning of the year		$	764			$	548
Additions from tax positions taken in the current year			712				233
Additions from tax positions taken in prior years			—				531
Reductions from tax positions taken in prior years			(7	)			(548	)
Tax settlements			—				—
Gross unrecognized tax benefits at the end of the year		$	1,469			$	764

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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 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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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