v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Current and Deferred Tax Provision

A summary of the Company’s current and deferred tax provision is as follows:

 

 Schedule of Current and Deferred Tax Provision

           
   Year Ended December 31, 
   2023   2022 
Current income tax expense:          
Federal  $-   $- 
State   10    13 
Total current income tax expense   10    13 
Deferred income tax expense (benefit):          
Federal   1    1 
State   (1)   (1)
Total deferred tax expense   —    — 
Total expense from income taxes  $10   $13 
Schedule of Reconciliation of the U.S federal statutory income tax

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

 

Schedule of Reconciliation of the U.S  federal statutory income tax

           
   Year Ended December 31, 
   2023   2022 
Federal statutory income tax rate   21.0%   21.0%
State income taxes, net of federal benefits   1.4%   (38.9)%
Interest accretion expense   11.0%   (186.9)%
Change in valuation allowance   (20.0)%   269.1%
Mark to market warrant   0.5%   (58.5)%
Deferred true-up   (2.4)%   0.2%
Stock-based compensation   (0.0)%   (8.2)%
Impairment   (12.0)%   5.3%
Other permanent items   0.5%   (3.1)%
Effective income tax rate   (0.0)%   (0.0)%
Schedule of Deferred tax assets and liabilities

Net deferred tax liabilities as of December 31, 2023 and 2022 consisted of the following:

 

Schedule of Deferred tax assets and liabilities 

   2023   2022 
   Year Ended December 31, 
   2023   2022 
Deferred tax assets:          
Net operating loss carryforwards  $109,544   $102,723 
Research and development tax credit carryforwards   5,674    5,674 
Stock-based compensation expense   16,539    14,321 
Startup costs   498    588 
Intangible assets   3,442    3,905 
Deferred revenue   1,441    1,135 
Unicap   5    6 
Imputed interest on contingent payments   110    5,654 
Legal fee capitalization and amortization   1,171    1,342 
Capitalized research and development   26,613    19,318 
Other   4,751    3,121 
Total deferred tax assets   169,788    157,787 
Deferred tax liabilities:          
In-process research and development   —    (27,271)
Total deferred tax liabilities   —    (27,271)
Valuation allowance   (169,797)   (130,525)
Net deferred tax liabilities  $(9)  $(9)
Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:

 

Schedule of Unrecognized Tax Benefits

   Unrecognized
Tax Benefits		 
Balance at December 31, 2021  $1,270 
Decrease related to current year tax provisions   (242)
Balance at December 31, 2022  $1,028 
Decrease related to current year tax provisions   — 
Balance at December 31, 2023  $1,028