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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes

Reconciliation of the federal statutory income tax rate to our effective income tax rate

		Year Ended
		December 31,
		2018			2017			2016
					(Revised)			(Revised)
Federal statutory income tax		$	(14,795)		$	(13,243)		$	15,680
State and local income taxes			(4,767)			(1,806)			2,818
Research and development credit			(6,170)			(5,554)			(2,544)
Stock based compensation			444			2,709			733
Effect of the 2017 Tax Cut and Jobs Act			—			19,596			—
Other			414			720			1,008
Net change in valuation allowance			24,874			(2,885)			(16,695)
Income tax provision (benefit)		$	—		$	(463)		$	1,000

Schedule of tax effect of temporary differences that give rise to a significant portion of the deferred tax assets and liabilities

		December 31,
		2018			2017
					(Revised)
Deferred income tax assets
Net operating loss carryforwards		$	49,889		$	25,565
Research credits			23,151			16,642
Depreciation			207			437
Unrealized loss on securities			269			504
Accrued compensation			1,097			748
Deferred revenue			11,222			16,820
State taxes			—			(2)
Gross deferred income tax assets			85,835			60,714
Valuation allowance			(82,537)			(57,663)
Net deferred income tax assets			3,298			3,051
Deferred income tax liabilities
Patent costs			(3,142)			(2,873)
Licensing costs			(125)			(142)
Capitalized legal costs			(31)			(36)
Gross deferred income tax liabilities			(3,298)			(3,051)
Net deferred income tax asset		$	—		$	—

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- References

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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=84230637&loc=d3e32537-109319

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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=84230637&loc=d3e32687-109319

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