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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Loss from Continuing Operations Before Provision for Income Tax

Loss from continuing operations before provision for income tax for the Company’s domestic and international operations was as follows (in thousands):

		Year Ended December 31,
		2020				2019
United States		$	(57,458	)		$	(51,044	)
Foreign			—				(859	)
Loss before provision for income taxes		$	(57,458	)		$	(51,903	)

Provision for Income Taxes

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

		Year Ended December 31,
		2020				2019
Current
U.S. federal		$	—			$	—
U.S. state			—				—
Non-U.S.			(218	)			—
Total current			(218	)			—
Deferred
U.S. federal			(4,377	)			(8,551	)
U.S. state			(469	)			3,299
Non-U.S.			—				—
Total deferred			(4,846	)			(5,252	)
Valuation allowance			4,846				5,252
Total		$	(218	)		$	—

Components of Net Deferred Tax Assets

Components of the net deferred tax assets as of December 31, 2020 and 2019, are as follows (in thousands):

		December 31,
		2020				2019
Deferred tax assets:
Net operating loss carryforwards		$	533,448			$	531,970
Research and development credits			79,455				80,488
Capitalized research			—				44
Milestone Rights			1,547				1,528
Accrued expenses			1,436				1,951
Loss on purchase commitment			23,864				22,167
Non-qualified stock option expense			3,766				3,128
Capitalized patent costs			5,273				4,964
Other		2093					147
Lease liability		559					827
Interest expense limitation			2,460				1,167
Depreciation			20,735				21,132
Deferred Product Revenue & Costs			1,569				2,062
Total net deferred tax assets			676,205				671,575
Valuation allowance			(675,463	)			(670,617	)
Net deferred tax assets		$	742			$	958
Deferred tax liabilities:
Right of use asset		$	(510	)		$	(751	)
Other prepaids			(232	)			(207	)
Total deferred tax liabilities			(742	)			(958	)
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, 2020 and 2019:

		Year Ended December 31,
		2020				2019
Federal tax benefit rate			21.0	%			21.0	%
Permanent items			(6.1	)			(3.3	)
Tax law changes			—				(2.7	)
Stock based compensation			(0.5	)			(0.9	)
Tax attribute expirations			(6.6	)			(4.0	)
Foreign withholding tax			0.4				—
Valuation allowance			(7.8	)			(10.1	)
Effective income tax rate			0.4	%			0.0	%

Summary of Positions for which Significant Change in Unrecognized Tax Benefits

A reconciliation of beginning and ending amounts of unrecognized tax benefits in 2020 and 2019, respectively, was as follows (in thousands):

		Year Ended December 31,
		2020				2019
Gross unrecognized Tax benefit as of 1/1/2020		$	—			$	—
Gross increases for tax positions of prior years			268,902				—
Gross decreases for tax positions of current year			—				—
Settlements			—				—
Lapse of statute of limitations			—				—
Gross unrecognized tax benefits as of 12/31/2020		$	268,902			$	—

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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.

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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.

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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.

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

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Tabular disclosure of unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination.

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