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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Tax, Domestic and Foreign | Loss before provision for income taxes includes the following components (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Domestic |  | $ | (274,998 | ) |  | $ | (371,900 | ) |  | $ | (524,440 | )
Foreign |  |  | (1,258 | ) |  |  | 6,917 |  |  |  | 1,160 |
Loss before provision for income taxes |  | $ | (276,256 | ) |  | $ | (364,983 | ) |  | $ | (523,280 | )
Schedule of Provision for Income Taxes | The provision for income taxes consists of the following (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | — |  |  | $ | — |
State |  |  | (43 | ) |  |  | (608 | ) |  |  | 50 |
Foreign |  |  | (17 | ) |  |  | 1,115 |  |  |  | 609 |
Total current income tax expense |  |  | (60 | ) |  |  | 507 |  |  |  | 659 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | — |  |  |  | — |  |  |  | — |
State |  |  | — |  |  |  | — |  |  |  | — |
Foreign |  |  | (140 | ) |  |  | 2,708 |  |  |  | (102 | )
Total deferred income tax expense |  |  | (140 | ) |  |  | 2,708 |  |  |  | (102 | )
Provision (benefit) for income taxes |  | $ | (200 | ) |  | $ | 3,215 |  |  | $ | 557 |
Schedule of Income Tax Provision Related to Continuing Operations | Our income tax provision related to continuing operations differs from the amount computed by applying the statutory income tax rate of 21% to our pretax loss as follows (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Income tax benefit at federal statutory rate |  | $ | (58,013 | ) |  | $ | (76,647 | ) |  | $ | (109,889 | )
Research credits |  |  | (1,192 | ) |  |  | (987 | ) |  |  | (4,727 | )
Change in valuation allowance |  |  | 35,033 |  |  |  | 51,108 |  |  |  | 97,914 |
Expiration of net operating loss carryforwards |  |  | 312 |  |  |  | 12,348 |  |  |  | 286 |
Stock-based compensation |  |  | 8,919 |  |  |  | 15,778 |  |  |  | 6,627 |
Non-cash interest expense on liability related to sales of future royalties |  |  | 5,320 |  |  |  | 6,071 |  |  |  | 9,936 |
Non-cash royalty revenue related to sales of future royalties |  |  | (7,838 | ) |  |  | (7,112 | ) |  |  | (7,891 | )
Loss on revaluation of liability related to the sale of future royalties |  |  | — |  |  |  | — |  |  |  | 4,940 |
Impairment of goodwill |  |  | 16,065 |  |  |  | — |  |  |  | — |
Other |  |  | 1,194 |  |  |  | 2,656 |  |  |  | 3,361 |
Provision (benefit) for income taxes |  | $ | (200 | ) |  | $ | 3,215 |  |  | $ | 557 |
Schedule of Significant Components of Deferred Tax Assets and Liabilities | We measure deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future. Significant components of our deferred tax assets for federal and state income taxes are as follows (in thousands):
|  | December 31, |
|  | 2023 |  |  | 2022 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 574,737 |  |  | $ | 545,508 |
Research and other credits |  |  | 144,128 |  |  |  | 142,198 |
Net capital loss carryforwards |  |  | 39,655 |  |  |  | 38,445 |
Operating lease liabilities |  |  | 25,384 |  |  |  | 28,254 |
Stock-based compensation |  |  | 19,447 |  |  |  | 22,110 |
Capitalized research and development costs |  |  | 34,675 |  |  |  | 24,134 |
Liability related to the sale of future royalties |  |  | 6,729 |  |  |  | 13,424 |
Other |  |  | 13,863 |  |  |  | 13,935 |
Deferred tax assets before valuation allowance |  |  | 858,618 |  |  |  | 828,008 |
Valuation allowance for deferred tax assets |  |  | (854,528 | ) |  |  | (816,235 | )
Total deferred tax assets |  |  | 4,090 |  |  |  | 11,773 |
Deferred tax liabilities: |  |  |  |  |  |
Operating lease right-of-use assets |  |  | (3,824 | ) |  |  | (11,335 | )
Investment in foreign subsidiary |  |  | (521 | ) |  |  | (2,451 | )
Other |  |  | (265 | ) |  |  | (392 | )
Total deferred tax liabilities |  |  | (4,610 | ) |  |  | (14,178 | )
Net deferred tax assets (liabilities) |  | $ | (520 | ) |  | $ | (2,405 | )
Schedule of Unrecognized Tax Benefits | We have the following activity relating to unrecognized tax benefits (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Beginning balance |  | $ | 85,845 |  |  | $ | 80,604 |  |  | $ | 78,665 |
Tax positions related to current year: |  |  |  |  |  |  |  |  |
Additions |  |  | 848 |  |  |  | 378 |  |  |  | 2,371 |
Reductions |  |  | — |  |  |  | — |  |  |  | — |
Tax positions related to prior years: |  |  |  |  |  |  |  |  |
Additions |  |  | 40,079 |  |  |  | 5,272 |  |  |  | 58 |
Reductions |  |  | — |  |  |  | — |  |  |  | (490 | )
Settlements |  |  | — |  |  |  | — |  |  |  | — |
Lapses in statute of limitations |  |  | (274 | ) |  |  | (409 | ) |  |  | — |
Ending balance |  | $ | 126,498 |  |  | $ | 85,845 |  |  | $ | 80,604 |

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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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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