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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of income tax reconciliation | The difference between the Company’s provision for income taxes and the amounts computed by applying the statutory federal income tax rate to income before income taxes is as follows for the years ended December 31, 2021 and 2020 (amounts in thousands):
| Year Ended December 31,
| 2021 |  | 2020
Income tax benefit computed at federal statutory tax rate | $ | (9,445) |  |  | $ | (7,687) |
Change in valuation allowance | 13,045 |  |  | 8,717 |
Return to provision adjustments | — |  |  | (745) |
General business credits | (3,108) |  |  | (1,114) |
Other permanent differences | — |  |  | 119 |
Stock compensation | (1,923) |  |  | — |
Section 162(m) limitation | 809 |  |  | — |
Change in uncertain tax position | 622 |  |  | 223 |
Other | — |  |  | 487 |
Income tax benefit | $ | — |  |  | $ | — |
Schedule of deferred tax assets and liabilities | Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2021 and 2020 are as follows (amounts in thousands):
| December 31,
| 2021 |  | 2020
Deferred tax asset: |  |  |
Net operating loss carryforwards | $ | 20,460 |  |  | $ | 9,891 |
Accrued expenses and other | 3,520 |  |  | 1,345 |
Stock compensation | 779 |  |  | 182 |
Credit carryforwards | 6,194 |  |  | 3,708 |
Deferred revenue | — |  |  | 2,631 |
Capital loss carryforwards | 484 |  |  | 27 |
Gross deferred tax asset | 31,437 |  |  | 17,784 |
Less valuation allowance | (30,331) |  |  | (17,285) |
Net deferred tax asset | 1,106 |  |  | 499 |
Deferred tax liability: |  |  |
Depreciation and amortization | (578) |  |  | (121) |
Prepaid expenses | (528) |  |  | (378) |
Total deferred tax liability | (1,106) |  |  | (499) |
Total net deferred tax asset | $ | — |  |  | $ | — |
Schedule of unrecognized tax benefits | A reconciliation of our liability for unrecognized tax benefits is as follows:
| Year Ended December 31,
| 2021 |  | 2020
Balance, beginning of the year | $ | 783 |  |  | $ | 560 |
Increase for tax positions related to the current year | 449 |  |  | 223 |
Increase for tax positions related to prior years | 172 |  |  | — |
Balance, end of year | $ | 1,404 |  |  | $ | 783 |

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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=121826272&loc=d3e32537-109319 + Details
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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=121826272&loc=d3e32687-109319 + Details
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