XML 45 R32.htm IDEA: XBRL DOCUMENT v3.24.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Schedule of Statutory Income Tax Rate to the Company’s Effective Income Tax Rate

A reconciliation of the Company’s statutory income tax rate to the Company’s effective income tax rate is as follows:

		Year Ended December 31,
		2023				2022
Income at US statutory rate			21	%			21	%
State taxes, net of federal benefit			8	%			(126	)%
Permanent differences			—				1	%
Change in fair value of warrants			1	%			(342	)%
Return to provision			—				(28	)%
Officer’s compensation			—				2	%
Stock-based compensation			(2	)%			6	%
Tax credits			5	%			(52	)%
Change in valuation allowance			(33	)%			518	%
			0	%			0	%

Schedule of Deferred Tax Assets and (Liabilities)

The Company’s deferred tax assets and (liabilities) are as follows:

		Year Ended December 31,
		2023				2022
Deferred Tax Assets:
Net operating loss carryforwards		$	34,636			$	27,688
Tax credits			11,850				7,057
Stock based compensation			2,173				1,303
Capitalized R&D expenses			22,348				11,456
Accruals and reserves			843				1,034
Depreciation and amortization			93				61
Lease liability			4,053				4,240
Total deferred tax assets before valuation allowance			75,996				52,839
Valuation allowance			(72,865	)			(49,518	)
Net deferred tax assets		$	3,131			$	3,321
Deferred Tax Liabilities:
Right of use asset			(3,131	)			(3,321	)
Total deferred tax liabilities			(3,131	)			(3,321	)
Net deferred tax assets (liability)		$	—			$	—

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration