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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes [Abstract]

Income tax reconciliation

The provision for income taxes differs from the amount computed by applying the statutory rate as follows:

		Year Ended December 31,
(in thousands)		2014				2013				2012
Income taxes using U.S. federal statutory rate		$	(5,926	)		$	(10,309	)		$	(17,621	)
Amortization of gain on IP migration			767				781				754
State income taxes, net of federal benefit			2,215				(1,390	)			(4,299	)
Foreign rate differential			1,069				2,761				3,716
Valuation allowance			886				7,683				17,561
Derivative charge			(660	)			(937	)			(734	)
Stock option exercises and cancellations			1,748				1,589				310
Research and development credits			(125	)			(1,090	)			326
Other			26				912				(13	)
Total		$	–			$	–			$	–

Significant components of deferred tax assets

Significant components of the Company's deferred tax assets are as follows:

(in thousands)		2014				2013
Deferred tax assets:
Employee compensation accruals		$	1,866			$	4,077
Accrued liabilities			1,356				870
Research tax credits			3,597				3,472
Other			45				79
Net operating losses			74,359				71,874
Total deferred tax assets			81,223				80,372
Deferred tax liability:
Total deferred tax liabilities			–				–
Valuation allowance			81,223				80,372
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

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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

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