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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The current and deferred expense is as follows (in thousands):
| Year Ended December 31,
| 2018 |  | 2017
Current provision: |  |  |
Federal | $ | — |  |  | $ | (775 | )
State | — |  |  | (221 | )
Total current benefit | — |  |  | (996 | )
Deferred (benefit) provision: |  |  |
Federal | 44 |  |  | (6,276 | )
State | 21 |  |  | 21 |
Total deferred provision (benefit) | 65 |  |  | (6,255 | )
Total provision (benefit) for income taxes | $ | 65 |  |  | $ | (7,251 | )
Schedule of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities were as follows (in thousands):
| As of December 31,
| 2018 |  | 2017
Deferred income tax assets: |  |  |
Net operating losses | $ | 29,782 |  |  | $ | 21,657 |
Promissory note - debt discount | 108 |  |  | — |
Accrued compensation | 648 |  |  | — |
Stock compensation | 1,552 |  |  | 292 |
Research and development credit carryforwards | 2,436 |  |  | 2,109 |
Deferred rent | 7 |  |  | 11 |
Intangible asset | 3 |  |  | 3 |
Valuation allowance | (34,536 | ) |  | (24,072 | )
Total deferred income tax assets | — |  |  | — |
Deferred income tax liabilities: |  |  |
Intangible amortization | (15,055 | ) |  | (14,990 | )
Total deferred income tax liabilities | (15,055 | ) |  | (14,990 | )
Net deferred income taxes | $ | (15,055 | ) |  | $ | (14,990 | )
Schedule of Effective Income Tax | A reconciliation of the difference between the provision (benefit) for income taxes and income taxes at the statutory U.S. federal income tax rate is as follows (in thousands):
| As of December 31,
| 2018 |  | 2017
Income tax at statutory rate | $ | (9,828 | ) |  | $ | (3,988 | )
State income taxes, net of Federal benefit | 16 |  |  | (132 | )
Research and development tax credit | (175 | ) |  | (145 | )
Change in Federal tax rate due to tax reform | — |  |  | 3,221 |
Stock compensation | 416 |  |  | 338 |
Promissory note - debt discount | 105 |  |  | — |
Revaluation of contingent royalty obligation | 2,205 |  |  | — |
Meals and entertainment | 17 |  |  | 3 |
Valuation allowance | 7,309 |  |  | (6,548 | )
Income tax provision (benefit) | $ | 65 |  |  | $ | (7,251 | )
Summary of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
| As of December 31,
| 2018 |  | 2017
Beginning balance | $ | 2,109 |  |  | $ | 1,812 |
Increases to current year tax positions | 326 |  |  | 297 |
Ending balance | $ | 2,435 |  |  | $ | 2,109 |

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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=84230637&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=84230637&loc=d3e32537-109319 + Details
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