XML 85 R32.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Effective Income Tax Rate Differed from Amount Computed by Applying Federal Statutory Rate | The effective income tax rate differed from the amount computed by applying the federal statutory rate to the Company’s loss before income taxes as follows:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Tax effected at statutory rate |  |  | 21.0 | % |  |  | 21.0 | %
State taxes |  |  | 7.2 | % |  |  | 7.4 | %
Stock compensation |  |  | (0.5 | )% |  |  | (0.7 | )%
Non-deductible expenses |  |  | (0.7 | )% |  |  | (0.5 | )%
Federal research and development credits |  |  | 5.0 | % |  |  | 5.0 | %
Change in valuation allowance |  |  | (32.0 | )% |  |  | (32.2 | )%
Total |  |  | — | % |  |  | — | %
Schedule of Total Deferred Tax Assets | The Company’s total deferred tax assets are as follows (in thousands):
|  | As of December 31, |
|  | 2022 |  |  | 2021 |
Deferred tax assets: |  |  |  |  |  |
Federal net operating loss carryforward |  | $ | 22,875 |  |  | $ | 18,233 |
State net operating loss carryforward |  |  | 6,693 |  |  |  | 5,269 |
R&D credit carryforwards |  |  | 10,667 |  |  |  | 6,385 |
Capitalized start-up costs |  |  | 219 |  |  |  | 242 |
Accruals and reserves |  |  | 823 |  |  |  | 629 |
Deferred revenue |  |  | 2,502 |  |  |  | 6,769 |
Stock based compensation |  |  | 1,900 |  |  |  | 1,026 |
Lease liability |  |  | 1,556 |  |  |  | 1,908 |
Capitalized R&E |  |  | 14,995 |  |  |  | — |
Total deferred tax asset |  |  | 62,230 |  |  |  | 40,461 |
Deferred tax liability: |  |  |  |  |  |
Fixed assets |  | $ | (761 | ) |  | $ | (648 | )
Right of use asset |  |  | (1,436 | ) |  |  | (1,786 | )
Total deferred tax liability |  |  | (2,197 | ) |  |  | (2,434 | )
Net deferred tax asset and liability before valuation allowance |  |  | 60,033 |  |  |  | 38,027 |
Valuation allowance |  |  | (60,033 | ) |  |  | (38,027 | )
Net deferred tax asset |  | $ | - |  |  | $ | - |

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration