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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Loss from Continuing Operations Before Provision for Income Taxes | Loss from continuing operations before provision for income taxes for the Company’s domestic and international operations was as follows (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
United States |  | $ | (80,926 | ) |  | $ | (57,458 | )
Foreign |  |  | — |  |  |  | — |
Loss before provision for income taxes |  | $ | (80,926 | ) |  | $ | (57,458 | )
Provision for Income Taxes | The provision for income taxes consists of the following (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Current |  |  |  |  |  |  |  |
U.S. federal |  | $ | — |  |  | $ | — |
U.S. state |  |  | — |  |  |  | — |
Non-U.S. |  |  | — |  |  |  | (218 | )
Total current |  |  | — |  |  |  | (218 | )
Deferred |  |  |  |  |  |  |  |
U.S. federal |  |  | (5,170 | ) |  |  | (4,377 | )
U.S. state |  |  | (14,461 | ) |  |  | (469 | )
Non-U.S. |  |  | — |  |  |  | — |
Total deferred |  |  | (19,631 | ) |  |  | (4,846 | )
Valuation allowance |  |  | 19,631 |  |  |  | 4,846 |
Total |  | $ | — |  |  | $ | (218 | )
Components of Net Deferred Tax Assets | Components of the net deferred tax assets as of December 31, 2021 and 2020, are approximately as follows (in thousands):
|  | December 31, |
|  | 2021 |  |  | 2020 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 542,800 |  |  | $ | 533,448 |
Research and development credits |  |  | 78,804 |  |  |  | 79,455 |
Milestone Rights |  |  | 1,440 |  |  |  | 1,547 |
Accrued expenses |  |  | 2,591 |  |  |  | 1,436 |
Loss on purchase commitment |  |  | 24,845 |  |  |  | 23,864 |
Non-qualified stock option expense |  |  | 5,684 |  |  |  | 3,766 |
Capitalized patent costs |  |  | 7,518 |  |  |  | 5,273 |
Other |  |  | 2,568 |  |  |  | 2,093 |
Lease liability |  |  | 588 |  |  |  | 559 |
Interest expense limitation |  |  | 5,696 |  |  |  | 2,460 |
Depreciation |  |  | 22,983 |  |  |  | 20,735 |
Deferred Product Revenue & Costs |  |  | 404 |  |  |  | 1,569 |
Total net deferred tax assets |  |  | 695,921 |  |  |  | 676,205 |
Valuation allowance |  |  | (695,094 | ) |  |  | (675,463 | )
Net deferred tax assets |  | $ | 827 |  |  | $ | 742 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Right of use asset |  | $ | (555 | ) |  | $ | (510 | )
Other prepaids |  |  | (272 | ) |  |  | (232 | )
Total deferred tax liabilities |  |  | (827 | ) |  |  | (742 | )
Net deferred tax assets |  | $ | — |  |  | $ | — |
Effective Tax Rate | The Company’s effective tax rate differs from the statutory federal income tax rate as follows for the years ended December 31, 2021 and 2020:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Federal tax benefit rate |  |  | 21.0 | % |  |  | 21.0 | %
Permanent items |  |  | -4.4 | % |  |  | -6.1 | %
Stock based compensation |  |  | 0.3 | % |  |  | -0.5 | %
Tax attribute expirations |  |  | -5.9 | % |  |  | -6.6 | %
Foreign withholding tax |  |  | 0.0 | % |  |  | 0.4 | %
Valuation allowance |  |  | -11.2 | % |  |  | -7.8 | %
Other |  |  | 0.2 | % |  |  | 0.0 | %
Effective income tax rate |  |  | 0.0 | % |  |  | 0.4 | %
Summary of Positions for which Significant Change in Unrecognized Tax Benefits | A reconciliation of beginning and ending amounts of unrecognized tax benefits in 2021 and 2020, respectively, was as follows (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Unrecognized Tax Benefit |  |  |  |  |  |  |  |
Beginning of Year |  | $ | 268,902 |  |  | $ | — |
Gross increases for tax positions of prior years |  |  | — |  |  |  | 268,902 |
Gross decreases for tax positions of current year |  |  | — |  |  |  | — |
Settlements |  |  | — |  |  |  | — |
Lapse of statute of limitations |  |  | — |  |  |  | — |
End of Year |  | $ | 268,902 |  |  | $ | 268,902 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 + Details
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