Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | 9. Income Taxes The Company’s effective tax rates were 0% and 0% for the three months ended June 30, 2026 and 2025, respectively. During the three and six months ended June 30, 2026 and 2025, the Company recorded a full valuation allowance on federal and state net deferred tax assets since management does not forecast the Company to be in a taxable position in the near future. The State of New Jersey’s Technology Business Tax Certificate Program allows certain high technology and biotechnology companies to sell unused net-operating loss (“NOL”) carryforwards and R&D tax credits to other New Jersey-based corporate taxpayers. For the six months ended June 30, 2025, we received a benefit for income taxes of $2,196. As of June 30, 2025, the Company received $18,372 of cash for the NOL and R&D tax credit sales related to the tax years ended December 31, . For the six months ended June 30, 2026, the Company did not receive any benefit for income taxes. |