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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Federal Statutory Income Tax Rate to Effective Income Tax Rate

The effective tax rate if the Company’ provision (benefit) for income taxes differs from the federal statutory rate as follows (in thousands):

		Year Ended December 31,
		2023				2022
Tax computed at federal statutory rate		$	(7,214	)	)	$	(1,624	)
State tax, net of federal tax benefit			1				1
Permanent differences			(616	)			(1237	)
Research and development tax credits, net of uncertain positions			(705	)			(454	)
Valuation allowance			8,535				3,315
Income tax expense		$	1			$	1

Schedule of Components of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets (liabilities) at December 31 are as follows (in thousands):

		Year Ended December 31,
		2023				2022
Deferred tax assets:
Net operating loss carryforwards		$	58,535			$	15,839
State tax, net of federal tax benefit			9,865				6,407
Accrued and deferred expenses			93				167
Research and development credit carry forwards			12,403				5,736
Lease liabilities			—				11
Other			1,699				118
Total deferred tax assets			82,595				28,278
Deferred tax liabilities
Right-of-use assets			—				(10	)
Valuation allowance			(21	)			(28	)
Total deferred tax liabilities			(21	)			(38	)
Total net deferred tax assets			82,574				28,240
Less: valuation allowance			(82,574	)			(28,240	)
Net deferred taxes		$	—			$	—

Schedule of Reconciliation of Unrecognized Tax Benefits

The change in the Company’s unrecognized tax benefits is summarized as follows (in thousands):

Balance at December 31, 2021		$	6,457
Increase related to current year tax positions			973
Additions for tax positions of prior years			76
Balance at December 31, 2022		$	7,506
Increase related to current year tax positions			2,846
Additions for tax positions of prior years			21
Additions in connection with the reverse merger			847
Reduction for tax positions of prior years			(140	)
Balance at December 31, 2023		$	11,080

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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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