XML 53 R37.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes

Schedule of components of income tax benefit (provision)

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2024			2023			2022
​	​	(In thousands)
Income tax benefit (provision):	​	​	​	​	​	​	​	​	​
Federal	​	$	39,821	​	$	36,067	​	$	17,484
State	​	​	15,375	​	​	13,691	​	​	9,606
Expiration of NOLs and R&D credit	​	​	(82,825)	​	​	(15,141)	​	​	(16,862)
​	​	​	(27,629)	​	​	34,617	​	​	10,228
Deferred tax valuation allowance	​	​	27,629	​	​	(34,617)	​	​	(10,228)
​	​	$	—	​	$	—	​	$	—

​

Schedule of reconciliation between the amount of reported income tax and the amount computed using the U.S. Statutory rate

​

​	​	​	​	​	​	​	​	​	​
​		2024			2023			2022
​	​	(In thousands)
Pre-tax loss	​	$	(157,863)	​	$	(141,429)	​	$	(112,325)
Loss at statutory rates	​	​	(33,151)	​	​	(29,700)	​	​	(23,588)
Research and development credits	​	​	(7,332)	​	​	(5,237)	​	​	(3,876)
State taxes	​	​	(15,375)	​	​	(13,691)	​	​	(9,606)
Other	​	​	662	​	​	(1,130)	​	​	11,421
Change in fair value remeasurement of contingent consideration	​	​	—	​	​	—	​	​	(1,441)
Expiration of Federal and State NOLs and R&D credits	​	​	82,825	​	​	15,141	​	​	16,862
Change in valuation allowance	​	​	(27,629)	​	​	34,617	​	​	10,228
Income tax (benefit) provision	​	$	—	​	$	—	​	$	—

​

Schedule of principal components of the deferred tax assets and liabilities

​

​	​	​	​	​	​	​
​		December 31,			December 31,
​	​	2024		​	2023
​	​	(In thousands)
Gross deferred tax assets	​	​	​	​	​	​
Net operating loss carryforwards	​	$	176,816	​	$	197,618
Tax credit carryforwards	​	​	24,718	​	​	56,830
Deferred research and development expenses	​	​	101,047	​	​	82,077
Stock-based compensation	​	​	20,940	​	​	14,671
Fixed assets	​	​	1,033	​	​	1,019
Accrued expenses and other	​	​	429	​	​	398
​	​	​	324,983	​	​	352,613
Gross deferred tax liabilities	​	​	​	​	​	​
IPR&D intangibles	​	​	(6,840)	​	​	(6,840)
Total deferred tax assets and liabilities	​	​	318,143	​	​	345,773
Valuation allowance	​	​	(319,756)	​	​	(347,386)
Net deferred tax liability	​	$	(1,613)	​	$	(1,613)

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 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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
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/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

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