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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Income Tax Expense Computed at Statutory Federal Income Tax Rate to Income Taxes

A reconciliation of income tax expense computed at the statutory federal income tax rate to income taxes as reflected in the consolidated financial statements is as follows:

		Year Ended December 31,
		2019				2018				2017
		(In thousands)
Income tax benefit at federal statutory rate		$	(17,368	)		$	(7,899	)		$	(11,484	)
State taxes			(5,314	)			(2,340	)			(1,011	)
Tax credits			(2,910	)			(817	)			(222	)
Stock-based compensation			753				764				140
Federal tax rate change			—				—				2,202
Change in fair value of tranche rights			—				3				5,065
Other			25				241				—
Change in valuation allowance			24,850				10,074				5,310
Income tax expense		$	36			$	26			$	—
Effective tax rate			0.0	%			0.0	%			0.0	%

Schedule of Deferred Tax Assets and Liabilities

Deferred income taxes reflect the net tax effects of loss and credit carryforwards and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of deferred income taxes were as follows:

		As of December 31,
		2019				2018
		(In thousands)
Deferred tax assets:
Net operating losses		$	34,938			$	13,054
Capitalized license			771				835
Research credits			4,151				1,007
Accruals			401				514
Stock-based compensation			53				51
Net unrealized loss			—				11
Total gross deferred tax assets			40,314				15,472
Less valuation allowance			(40,221	)			(15,395	)
Total deferred tax assets			93				77
Deferred tax liabilities:
Net unrealized gain			13				—
Depreciation and amortization			80				77
Total gross deferred tax liability			93				77
Net deferred tax assets		$	—			$	—

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- References

No definition available.

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- 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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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- 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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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