Income Tax (Tables)

12 Months Ended

Dec. 31, 2025

Our income tax benefit (expense) consisted of the following for the years ended December 31, 2025 and 2024 (in thousands):


	December 31, 2025		December 31, 2024
Current:
Federal	$	—	$	—
State	(1)		43
Foreign	—		—
Total current	$	(1)	$	43

Deferred:
Federal	$	—	$	—
State	—		—
Foreign	—		—
Total deferred	—		—
Total income tax benefit (expense):	$	(1)	$	43

Net loss before income taxes for the years ended December 31, 2025 and 2024 was as follows (in thousands):

The following table presents the significant components of the Company’s deferred tax assets and liabilities (in thousands):


	December 31, 2025		December 31, 2024
Deferred tax assets:
Net operating loss carryforwards	$	45,962	$	44,472
Stock-based compensation	1,124		1,124
Right-of-Use Liability/Pre-ASC 842 Deferred Rent	1,214		1,405
Section 163(j) Limitation	246		246
Section 174 R&E Expenses	2,566		1,768
Accrued compensation	1,976		244
Other deferred tax assets	177		165
Gross deferred tax assets	53,265		49,424
Valuation allowance	(51,898)		(47,891)


Deferred tax assets, net of valuation allowance	1,367		1,533

Deferred tax liabilities:

Right-of-Use Asset	(791)		(912)
Prepaid expenses	(411)		(415)
Fixed Assets	(154)		(192)
Other deferred tax liabilities	(11)		(14)
Total deferred tax liabilities	(1,367)		(1,533)
Net deferred tax assets (liabilities):	$	—	$	—