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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities are as follows (in thousands):

			As of December 31,
			2022						2021
Deferred tax assets:
Net operating losses			$	34,454					$	24,655
Tax credit carryforward			909						292
Equity compensation			737						1,143
Capitalized research and development expenses			16,946						—
Other			2,153						1,231
Total deferred tax assets			55,199						27,321
Valuation allowance			(54,261)						(27,321)
Deferred tax assets, net of valuation allowance			938						—
Deferred tax liabilities:
Right-of-use assets			(938)						—
Net deferred tax			$	—					$	—

Schedule of Provision for Income Taxes

The effective tax rate of the Company’s provision for income taxes differs from the federal statutory rate as follows:

			Years Ended December 31,
			2022						2021
Federal statutory tax rate			21.0		%				21.0		%
State tax, net of federal tax benefit			7.2						0.6
Stock compensation			(0.2)						0.0
Non-deductible officer compensation			(1.4)						(0.1)
Transaction costs related to the Business Combination			—						(0.2)
Warrant liabilities revaluation			6.6						(1.7)
Derivative liabilities revaluation			—						(9.8)
Earnout Shares liabilities revaluation			0.4						(6.8)
Permanent differences			0.1						0.0
R&D tax credits			0.8						0.0
Other			0.1						0.1
Valuation allowance			(34.6)						(3.1)
Effective tax rate			—		%				—		%

Schedule of Uncertain Tax Positions

The changes in the Company's uncertain tax positions are summarized as follows (in thousands):

Balance as of December 31, 2020			$	47
Additions in 2021			245
Balance as of December 31, 2021			292
Additions in 2022			613
Balance as of December 31, 2022			$	905

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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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