XML 36 R37.htm IDEA: XBRL DOCUMENT v2.4.0.8

Income taxes (Tables)

12 Months Ended

Dec. 31, 2013

Provision for Income Taxes

The provision for income taxes consists of the following (in thousands):

		Year Ended December 31,
		2011				2012				2013
Current
U.S. federal		$	—			$	—			$	—
U.S. state			—				—				—
Non-U.S.			—				—				—
Total current			—				—				—
Deferred
U.S. federal			48,643				51,540				59,379
U.S. state			8,582				9,199				7,470
Non-U.S.			—				—				—
Valuation Allowance			(57,225	)			(60,739	)			(66,849	)
Total deferred			—				—				—
Total		$	—			$	—			$	—

Components of Net Deferred Tax Asset

Components of the net deferred tax asset as of December 31, 2012 and 2013 are approximately as follows (in thousands):

		December 31,
		2012				2013
Deferred tax assets:
Net operating loss carryforwards		$	609,471			$	653,896
Research and development credits			65,315				70,091
Capitalized research			31,490				30,421
Milestone Rights			—				6,608
Accrued expenses			2,922				3,578
Non-qualified stock option expense			30,928				41,219
Capitalized patent costs			6,891				7,811
Other			—				837
Depreciation			3,134				2,539
Total net deferred tax assets			750,151				817,000
Valuation allowance			(750,151	)			(817,000	)
Net deferred tax assets		$	—			$	—

Effective Income Tax Rate

The Company’s effective income tax rate differs from the statutory federal income tax rate as follows for the years ended December 31, 2011, 2012 and 2013:

		December 31,
		2011				2012				2013
Federal tax benefit rate			35.0	%			35.0	%			35.0	%
State tax benefit, net of federal benefit			—				—				—
Permanent items			—				—				—
Intercompany transfer of intellectual property			(5.0	)			(4.0	)			(4.3	)
Valuation allowance			(30.0	)			(31.0	)			(30.7	)
Effective income tax rate			0.0	%			0.0	%			0.0	%

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/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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/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

+ 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=6907707&loc=d3e32687-109319

+ Details

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