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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Components of Income Tax Expense for Continuing Operations

The components of the income tax expense for continuing operations are as follows:

(in thousands)		2018				2017				2016
Current:
Federal		$	(100	)		$	—			$	—
State			830				—				—
Total income tax expense		$	730			$	—			$	—

Provision for Income Taxes on Earnings Subject to Income Taxes Differs from Statutory Federal Rate

The provision for income taxes on earnings subject to income taxes differs from the statutory federal rate at December 31, 2018, 2017 and 2016, due to the following:

(in thousands)		2018				2017				2016
Federal income taxes at 21% for 2018 and 35% for 2017 and 2016		$	4,587			$	(49,889	)		$	(49,383	)
State income tax, net of federal benefit			361				(4,013	)			2
Tax effect on non-deductible expenses			446				433				(321	)
Share-based compensation expense			(9,778	)			(19,589	)			(5,077	)
Officer compensation			915				2,163				—
Change in tax rate			(198	)			154,415				—
Expired tax attributes			13,874				2,998				6,708
Research credits			(13,526	)			(5,596	)			(5,554	)
Change in valuation allowance			4,306				(79,966	)			53,414
Other			(257	)			(956	)			211
		$	730			$	—			$	—

Components of Deferred Tax Assets

Amounts are shown as of December 31 as of each respective year:

(in thousands)		2018				2017
Deferred tax assets:
Net operating losses		$	223,800			$	238,500
R&D credits			62,200				47,500
Capitalized R&D			34,800				47,500
Share-based compensation			17,300				14,600
Other			28,600				14,600
Total deferred tax assets			366,700				362,700
Deferred tax liabilities:
Convertible senior notes			(26,400	)			(31,300	)
Fixed assets			(5,100	)			(500	)
Total deferred tax liabilities			(31,500	)			(31,800	)
Net of deferred tax assets and liabilities			335,200				330,900
Valuation allowance			(335,200	)			(330,900	)
Net deferred tax assets		$	—			$	—

Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to unrecognized tax benefits:

(in thousands)		2018				2017				2016
Balance as of the beginning of the year		$	37,403			$	34,112			$	33,074
Increases related to prior year tax positions			6,103				—				260
Increases related to current year tax positions			11,726				3,291				2,211
Expiration of the statute of limitations for the assessment of taxes			(457	)			—				(1,433	)
Balance as of the end of the year		$	54,775			$	37,403			$	34,112

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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