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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Loss Before Income Taxes | The following table presents domestic and foreign components of loss before provision for income taxes:
| Years ended December 31,
| 2024 |  | 2023 As Restated |  |
| (In thousands)
U.S. | $ | (130,768) |  |  | $ | (123,040) |  |  |
Foreign | (159) |  |  | (154) |  |  |
Loss before income taxes | $ | (130,927) |  |  | $ | (123,194) |  |  |
Schedule of Components of Income Tax (Benefit) Provision | The components of the Company’s income tax (benefit) provision were as follows:
| Years ended December 31,
| 2024 |  | 2023 As Restated |  |
| (In thousands)
Current: |  |  |  |  |
Foreign | $ | — |  |  | $ | (1,078) |  |  |
Total current tax (benefit) provision | — |  |  | (1,078) |  |  |
Deferred |  |  |  |  |
Foreign | — |  |  | — |  |  |
Total deferred tax provision | — |  |  | — |  |  |
Total income tax (benefit) provision | $ | — |  |  | $ | (1,078) |  |  |
Schedule of Reconciliation of Income Tax Expense Computed Statutory Federal Income Tax and Financial Statements | The income tax provision for the years ended December 31, 2024 and 2023 differed from the amounts computed by applying the statutory federal income tax rate of 21% to pretax loss as a result of the following:
| Years ended December 31,
| 2024 |  | 2023 As Restated |  |
| (In thousands)
Federal income tax benefit at statutory rate | $ | (27,495) |  |  | $ | (25,871) |  |  |
Stock compensation | 3,189 |  |  | 6,001 |  |  |
Non-deductible expenses | 41 |  |  | 21 |  |  |
Research and development tax credits | (5,642) |  |  | (1,810) |  |  |
Change in valuation allowance | 23,801 |  |  | 19,558 |  |  |
Foreign rate differential | (14) |  |  | (14) |  |  |
Impact of internal reorganization | — |  |  | 1,323 |  |  |
Uncertain tax positions | 6,100 |  |  | (1,078) |  |  |
Other | 20 |  |  | 792 |  |  |
Total tax (benefit) provision | $ | — |  |  | $ | (1,078) |  |  |
Schedule of Deferred Tax Assets | The following table presents significant components of the Company’s deferred tax assets and liabilities:
| As of December 31,
| 2024 |  | 2023 As Restated
| (In thousands)
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 137,140 |  |  | $ | 128,171 |
Accruals, reserve and other | 1,972 |  |  | 1,749 |
Tax credit carryforwards | 29,263 |  |  | 21,254 |
Stock-based compensation | 6,349 |  |  | 7,274 |
Intangibles | 7 |  |  | 11 |
Lease obligation | 19,622 |  |  | 17,322 |
Capital losses | 9,850 |  |  | 9,850 |
Section 174 R&D capitalization | 35,842 |  |  | 29,688 |
Other | 5 |  |  | 3 |
Total deferred tax assets before valuation allowance | 240,050 |  |  | 215,322 |
Valuation allowance | (232,058) |  |  | (205,861) |
Total deferred tax assets | 7,992 |  |  | 9,461 |
Deferred tax liabilities: |  |  |
Right-of-use assets | (7,149) |  |  | (8,153) |
Property and equipment | (843) |  |  | (1,308) |
Total deferred tax liabilities | $ | (7,992) |  |  | $ | (9,461) |
Net deferred tax assets | $ | — |  |  | $ | — |
Schedule of Unrecognized Tax Benefits | A reconciliation of the unrecognized tax benefits is as follows:
| Years ended December 31,
| 2024 |  | 2023 As Restated |  |
| (In thousands)
Unrecognized tax benefits as of the beginning of the year | $ | 22,758 |  |  | $ | 23,069 |  |  |
Increase related to tax positions taken during the prior year | — |  |  | 43 |  |  |
Decrease related to tax positions taken during the prior year | (2,880) |  |  | — |  |  |
Increase related to tax position taken during the current year | 7,310 |  |  | 3,121 |  |  |
Decrease related to tax position taken during the current year | — |  |  | (3,475) |  |  |
Unrecognized tax benefits as of the end of the year | $ | 27,188 |  |  | $ | 22,758 |  |  |

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