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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Reconciliation of Total Income Tax Provision | A reconciliation of the total income tax provision tax rate to the statutory federal income tax rates of 21.0% for the years ended December 31, 2024 and 2023, respectively, is as follows:
|  |  | 2024 |  |  |  | 2023 |
Income tax expense (benefit) at federal statutory rate |  |  | (21.0 | )% |  |  | (21.0 | )%
Change in valuation allowance |  |  | 23.8 | % |  |  | 25.5 | %
Income tax benefit at state statutory rate |  |  | (0.3 | )% |  |  | (0.2 | )%
Share-based compensation |  |  | 0.9 | % |  |  | 1.0 | %
Warrants |  |  | (2.6 | )% |  |  | — |
NOLs expiring and adjustments to NOL |  |  | (0.1 | )% |  |  | (0.1 | )%
Research credit |  |  | (0.7 | )% |  |  | (5.1 | )%
Return to provision |  |  | — |  |  |  | (0.1 | )%
|  |  | (0.0 | )% |  |  | 0.0 | %
Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of our deferred tax assets and deferred tax liabilities as of December 31, 2024 and 2023 are as follows (in thousands):
|  |  | 2024 |  |  |  | 2023 |
Deferred tax assets: |  |  |  |  |  |
Accrued expenses |  | $ | 249 |  |  | $ | 269 |
Share-based compensation |  |  | 94 |  |  |  | 99 |
Net operating loss carryforwards |  |  | 15,412 |  |  |  | 13,397 |
Income tax credit carryforwards |  |  | 1,725 |  |  |  | 1,630 |
Property and equipment, net |  |  | 218 |  |  |  | 154 |
Intangible assets |  |  | 730 |  |  |  | 685 |
Capitalized R&D |  |  | 3,949 |  |  |  | 2,842 |
Other, net |  |  | 213 |  |  |  | 453 |
Total deferred tax assets |  |  | 22,590 |  |  |  | 19,529 |
Valuation allowance |  |  | (22,575 | ) |  |  | (19,486 | )
Total deferred tax assets, net of allowance |  |  | 15 |  |  |  | 43 |
Deferred tax liabilities: |  |  |  |  |  |
Other |  |  | (15 | ) |  |  | (43 | )
Total deferred tax liability |  |  | (15 | ) |  |  | (43 | )
Net deferred tax assets (liability) |  | $ | — |  |  | $ | — |
Unrecognized Tax Benefits Activity | Following is a tabular reconciliation of the unrecognized tax benefits activity during the years ended December 31, 2024 and 2023 (in thousands):
|  |  | 2024 |  |  |  | 2023 |
Unrecognized Tax Benefits – Beginning |  | $ | 408 |  |  | $ | 209 |
Gross decreases – tax positions in prior period |  |  | (5 | ) |  |  | (16 | )
Gross increase – current-period tax positions |  |  | 21 |  |  |  | 215 |
Unrecognized Tax Benefits – Ending |  | $ | 424 |  |  | $ | 408 |

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