Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes - Summary of Principal Components of Company's Deferred Tax Assets (Details)

v3.25.1
Income Taxes - Summary of Principal Components of Company's Deferred Tax Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Federal, state and local net operating loss carryforwards $ 44,369 $ 34,534
Capitalized research and development costs 36,646 19,830
Research and development tax credits 16,296 10,192
Stock-based compensation deductions 9,919 6,066
License fee deductions 221 240
Operating lease liabilities 4,607 1,482
Accrued expenses 2,603 1,665
Gross deferred tax assets 114,661 74,009
Less: valuation allowance (110,723) (72,560)
Total deferred tax assets 3,938 1,449
Deferred tax liabilities:    
Operating lease right-of-use assets (3,938) (1,449)
Net deferred tax assets $ 0 $ 0