XML 49 R31.htm IDEA: XBRL DOCUMENT v3.6.0.2

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of reconciliation of tax expense computed at the statutory federal rate and the Company's tax expense

The following table presents a reconciliation of the tax expense computed at the statutory federal rate and the Company's tax expense for the periods presented (in thousands of dollars):

	Year Ended December, 31,
	2016				2015				2014
U.S. federal taxes at statutory rate	$	(10,662	)		$	(11,459	)		$	(9,987	)
State tax (net of federal benefit)	20				(30		)		5
Permanent differences	153				96				64
Incentive stock options	1,095				789				672
Tax credits	(677		)		(581		)		(461		)
Change in valuation allowance	10,071				11,185				9,707
Total	$	—			$	—			$	—

Schedule of significant components of the Company's deferred tax assets and liabilities

Significant components of the Company's deferred tax assets and liabilities are as follows (in thousands of dollars):

	Year Ended December 31,
	2016				2015				2014
Deferred tax assets:
Net operating loss carryforwards	$	61,674			$	52,262			$	41,971
Research and development credits	3,174				2,497				1,916
Stock-based compensation	2,847				1,825				826
Genzyme co-promotion agreement	—				330				995
Accruals, deferred rent and other	4,511				4,698				3,381
Gross deferred tax assets	72,206				61,612				49,089
Valuation allowance	(65,975		)		(55,101		)		(43,439		)
Net deferred tax assets	6,231				6,511				5,650
Deferred tax liabilities:
Property and equipment	(1,180		)		(1,215		)		(60		)
In-process research and development	(5,051		)		(5,296		)		(5,590		)
Gross deferred tax liabilities	(6,231		)		(6,511		)		(5,650		)
Net deferred tax liabilities	(6,231		)		(6,511		)		(5,650		)
Net deferred taxes	$	—			$	—			$	—

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands of dollars):

	Year Ended December 31,
	2016				2015				2014
Unrecognized tax benefits, beginning of period	$	1,871			$	1,571			$	727
Gross increases—tax position in prior period	—				—				548
Gross decreases—tax position in prior period	—				—				—
Gross increases—current period tax position	351				300				296
Lapse of statute of limitations	—				—				—
Unrecognized tax benefits, end of period	$	2,222			$	1,871			$	1,571

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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=65882285&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=65882285&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=75116239&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=65882285&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration