Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | 10. Income taxes The Company did not provide for any income taxes in its condensed consolidated statement of operations and comprehensive income (loss) for the three and six months ended June 30, 2025 and 2024. While the Company has net income for the six months ended June 30, 2025, the Company is projecting book and tax losses for the full year ending December 31, 2025, for which it is more likely than not that the Company will not realize a benefit. Based on its evaluation of the positive and negative evidence bearing upon its ability to realize its deferred tax assets, the Company determined that it is more likely than not that it will not realize such benefits. Accordingly, the Company has recorded a full valuation allowance against its deferred tax assets as of June 30, 2025 and December 31, 2024, and has not recorded any income taxes for the three and six months ended June 30, 2025 and 2024. Management reevaluates the positive and negative evidence at each reporting period. On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”), which includes a broad range of tax reform provisions, was signed into law in the United States. The Company is evaluating the impact of the OBBBA on its financial statements and financial statement disclosures, including the Company's capitalized research and development expenses. |