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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Taxes |
Schedule of reconciliation of U.S. statutory income tax rate to effective tax rate |
|  | Year Ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
Federal income tax (benefit) at statutory rate |  |  | 34.00 | % |  | 34.00 | % |  | 34.00 | %
Permanent differences |  |  | (0.86 | ) |  | (1.29 | ) |  | (0.50 | )
Federal research and development credits and adjustments |  |  | 2.64 |  |  | 2.70 |  |  | 5.80 |
State income tax, net of federal benefit |  |  | 5.77 |  |  | 6.03 |  |  | 5.88 |
Other |  |  | 0.28 |  |  | (0.15 | ) |  | (0.01 | )
Change in valuation allowance |  |  | (41.82 | ) |  | (41.29 | ) |  | (45.17 | )
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Effective income tax rate |  |  | — | % |  | — | % |  | — | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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Schedule of components of deferred tax assets | The Company's deferred tax assets consisted of the following (in thousands):
|  | Year Ended December 31, |
|  | 2015 |  | 2014 |
Deferred tax assets |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 35,042 |  | $ | 22,577 |
Tax credit carryforwards |  |  | 3,762 |  |  | 2,748 |
Capitalized research and development |  |  | 4,087 |  |  | 4,780 |
Capitalized legal expenses |  |  | 1,464 |  |  | 1,223 |
Other differences |  |  | 815 |  |  | 195 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deferred tax assets |  |  | 45,170 |  |  | 31,523 |
Valuation allowance |  |  | (45,170 | ) |  | (31,523 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets |  | $ | — |  | $ | — |
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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://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
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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://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
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