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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule of income (loss) before income taxes

        For financial reporting purposes, income (loss) before income taxes includes the following components (in thousands):

		Years Ended December 31,
		2016			2015			2014
United States		$	(174,913	)	$	(123,697	)	$	(70,030	)
Foreign			(28,868	)		(8,421	)		(9	)
​	​	​	​	​	​	​	​	​	​	​
Total		$	(203,781	)	$	(132,118	)	$	(70,039	)
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

Schedule of reconciliation of the statutory tax rates and the effective tax rates

		Years Ended December 31,
		2016			2015			2014
Statutory rate			(34	)%		(34	)%		(34	)%
State taxes, net of federal benefit			(5	)		(5	)		(4	)
Permanent adjustments			3			2			1
R&D credit			(3	)		(3	)		(4	)
Foreign income tax rate differential			2			1			—
Other			(1	)		2			1
Valuation allowance			36			37			38
​	​	​	​	​	​	​	​	​	​	​
Net			(2	)%		(0	)%		(2	)%
​	​	​	​	​	​	​	​	​	​	​
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Schedule of significant components of the deferred tax assets and liabilities

The significant components of the deferred tax assets and liabilities are as follows (in thousands):

		For Years Ended December 31,
		2016			2015
Non-current deferred tax assets
Intellectual property		$	95,956		$	—
Amortization/depreciation			1,781			2,657
Research tax credit			32,851			27,170
Net operating loss carry forwards			253,661			159,889
Deferred revenue			14,281			14,281
Non-cash stock issue			11,649			6,767
Others			3,358			2,964
​	​	​	​	​	​	​	​
Gross deferred tax assets			413,537			213,728
Deferred tax liability related to business acquisition			(173,771	)		(176,219	)
Deferred tax liability related to royalty payable			(96,829	)		—
Deferred tax liability related to convertible notes			(29,845	)		—
​	​	​	​	​	​	​	​
Total net deferred tax asset			113,092			37,509
Less valuation allowance			(286,863	)		(213,728	)
​	​	​	​	​	​	​	​
Net deferred tax assets (liability)		$	(173,771	)	$	(176,219	)
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
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