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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Components of Income Tax Expense for Continuing Operations | Components of income tax expense for continuing operations were as follows:
| Year Ended December 31, |
(in thousands) | 2019 |  |  | 2018 |  |  | 2017 |
Current: |  |  |  |  |  |  |  |  |  |  |
Federal | $ | — |  |  | $ | (100 | ) |  | $ | — |
State |  | 9,530 |  |  |  | 830 |  |  |  | — |
Total income tax expense | $ | 9,530 |  |  | $ | 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 due to the following:
|  | December 31, |
(in thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Federal income taxes at 21% for 2019 and 2018 and 35% for 2017 |  | $ | 9,775 |  |  | $ | 4,587 |  |  | $ | (49,889 | )
State income tax, net of federal benefit |  |  | 4,044 |  |  |  | 361 |  |  |  | (4,013 | )
Tax effect on non-deductible expenses |  |  | 855 |  |  |  | 446 |  |  |  | 433 |
Branded prescription drug fee |  |  | 3,707 |  |  |  | — |  |  |  | — |
Share-based compensation expense |  |  | (12,785 | ) |  |  | (9,778 | ) |  |  | (19,589 | )
Officer compensation |  |  | 3,068 |  |  |  | 915 |  |  |  | 2,163 |
Change in tax rate |  |  | (4,143 | ) |  |  | (198 | ) |  |  | 154,415 |
Expired tax attributes |  |  | 1,228 |  |  |  | 13,874 |  |  |  | 2,998 |
Research credits |  |  | (10,359 | ) |  |  | (13,526 | ) |  |  | (5,596 | )
Change in valuation allowance |  |  | 13,883 |  |  |  | 4,306 |  |  |  | (79,966 | )
Other |  |  | 257 |  |  |  | (257 | ) |  |  | (956 | )
|  | $ | 9,530 |  |  | $ | 730 |  |  | $ | — |
Components of Deferred Tax Assets |
|  | December 31, |
(in thousands) |  | 2019 |  |  | 2018 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating losses |  | $ | 181,300 |  |  | $ | 223,800 |
Research and development credits |  |  | 71,900 |  |  |  | 62,200 |
Capitalized research and development |  |  | 28,000 |  |  |  | 34,800 |
Share-based compensation expense |  |  | 22,900 |  |  |  | 17,300 |
Operating lease assets |  |  | 23,300 |  |  |  | 100 |
Intangible assets |  |  | 49,300 |  |  |  | 9,400 |
Other |  |  | 18,500 |  |  |  | 19,100 |
Total deferred tax assets |  |  | 395,200 |  |  |  | 366,700 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Convertible senior notes |  |  | (24,100 | ) |  |  | (26,400 | )
Operating lease liabilities |  |  | (18,200 | ) |  |  | — |
Other |  |  | (6,900 | ) |  |  | (5,100 | )
Total deferred tax liabilities |  |  | (49,200 | ) |  |  | (31,500 | )
Net of deferred tax assets and liabilities |  |  | 346,000 |  |  |  | 335,200 |
Valuation allowance |  |  | (346,000 | ) |  |  | (335,200 | )
Net deferred tax assets |  | $ | — |  |  | $ | — |
Activity Related to Unrecognized Tax Benefits | A summary of activity related to unrecognized tax benefits follows:
|  | Year Ended December 31, |
(in thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Balance at January 1 |  | $ | 54,775 |  |  | $ | 37,403 |  |  | $ | 34,112 |
Increases related to prior year tax positions |  |  | 281 |  |  |  | 6,103 |  |  |  | — |
Increases related to current year tax positions |  |  | 9,519 |  |  |  | 11,726 |  |  |  | 3,291 |
Expiration of the statute of limitations for the assessment of taxes |  |  | (657 | ) |  |  | (457 | ) |  |  | — |
Balance at December 31 |  | $ | 63,918 |  |  | $ | 54,775 |  |  | $ | 37,403 |

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