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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense (Benefit) | The income tax expense consisted of the following (dollars in thousands):
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |
Current expense: |  |  |  |  |  |
U.S. |  | $ | 151 |  |  | $ | 138 |
Non-U.S |  |  | — |  |  |  | — |
Total current expense |  | $ | 151 |  |  | $ | 138 |
Schedule of Effective Income Tax Rate Reconciliation | Reconciliations of the differences between the expense for income taxes and income taxes at the statutory U.S. federal income tax rate is as follows (dollars in thousands):
|  | 2024 |  |  | 2023 |
|  | Amount |  |  | Percent of Pretax Income |  |  | Amount |  |  | Percent of Pretax Income |
Income taxes from continuing operations at statutory rate |  | $ | (4,439 | ) |  |  | 21.0 | % |  | $ | 14,108 |  |  |  | (21.0 | )%
State income taxes |  |  | (85 | ) |  |  | 0.4 | % |  |  | 406 |  |  |  | (0.6 | )%
State effect of permanent items |  |  | (46 | ) |  |  | 0.2 | % |  |  | 33 |  |  |  | — |
Permanent stock-based compensation |  |  | 91 |  |  |  | (0.4 | )% |  |  | (26 | ) |  |  | — |
Deferred rate change |  |  | 104 |  |  |  | (0.5 | )% |  |  | 1,839 |  |  |  | (2.7 | )%
Warrants issuance |  |  | (2,942 | ) |  |  | 13.9 | % |  |  | 697 |  |  |  | (1.0 | )%
Expiring NOLs and credits |  |  | (5,177 | ) |  |  | 24.5 | % |  |  | 26,355 |  |  |  | (39.2 | )%
Milestone deferral true-up |  |  | 4,285 |  |  |  | (20.3 | )% |  |  | — |  |  |  | — |
Convertible debt amortization |  |  | 538 |  |  |  | (2.6 | )% |  |  | 388 |  |  |  | (0.6 | )%
Deferred stock-based compensation true-up |  |  | 884 |  |  |  | (4.2 | )% |  |  | — |  |  |  | — |
Other |  |  | 227 |  |  |  | (1.1 | )% |  |  | 2 |  |  |  | — |
R&D credit |  |  | (1,235 | ) |  |  | 5.8 | % |  |  | (750 | ) |  |  | 1.1 | %
Increase in valuation allowance |  |  | 7,946 |  |  |  | (37.6 | )% |  |  | (42,914 | ) |  |  | 63.9 | %
Total income tax expense |  | $ | 151 |  |  |  | (0.7 | )% |  | $ | 138 |  |  |  | (0.1 | )%
Schedule of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows (in thousands):
|  | December 31, |
|  | 2024 |  |  | 2023 |
Noncurrent deferred tax assets (liabilities) |  |  |  |  |  |
Accrued expenses |  | $ | 53 |  |  | $ | 75 |
Stock-based compensation |  |  | 2,238 |  |  |  | 2,834 |
Lease liability |  |  | 553 |  |  |  | 631 |
Other |  |  | (2,300 | ) |  |  | (798 | )
Capitalized Sec. 174 R&E |  |  | 13,202 |  |  |  | 10,405 |
Net operating loss carryforwards |  |  | 48,684 |  |  |  | 46,437 |
Research and development credits |  |  | 6,145 |  |  |  | 1,044 |
Total deferred tax assets |  |  | 68,575 |  |  |  | 60,628 |
Valuation allowances |  |  | (68,575 | ) |  |  | (60,628 | )
Net deferred tax assets |  | $ | — |  |  | $ | — |
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a tabular reconciliation of the total amounts of unrecognized tax benefits as of December 31, 2024 and 2023 (in thousands):
|  | December 31, |
|  | 2024 |  |  | 2023 |
Unrecognized tax benefit—January 1 |  | $ | 361 |  |  | $ | 436 |
Additions for tax positions of current period |  |  | — |  |  |  | — |
Additions for tax positions of prior periods |  |  | — |  |  |  | — |
Deferred rate change |  |  | (3 | ) |  |  | (75 | )
Unrecognized tax benefit—December 31 |  | $ | 358 |  |  | $ | 361 |

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