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Income Taxes (Tables)

12 Months Ended

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

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