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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The loss before income taxes is as follows (in thousands):

	As of December 31,
	2018				2017
U.S.	$	(17,179	)		$	265
Non - U.S.	(11,869		)		(23,766		)
	$	(29,048	)		$	(23,501	)

Schedule of Components of Income Tax Expense (Benefit)

The components of federal and state income tax expense are as follows (in thousands):

	As of December 31,
	2018				2017
Current
Federal	$	(106	)		$	76
State	45				138
Foreign	—				—
Total current	(61		)		214
Deferred expense
Federal	(747		)		—
State	(570		)		39
Foreign	—				—
Total deferred	(1,317		)		39
Total income tax expense	$	(1,378	)		$	253

Schedule of Deferred Tax Assets and Liabilities

The components of net deferred tax assets and liabilities are as follows (in thousands):

	As of December 31,
	2018				2017
Net operating loss carryforwards	$	4,464			$	1,028
Tax credit carryforwards	134				345
Stock-based compensation	2,223				2,550
Licensing deduction deferral	5,961				2,105
Other	56				395
Gross deferred tax assets	12,838				6,423
Valuation allowance	(11,410		)		(4,658		)
Net deferred tax asset	$	1,428			$	1,765

The components of net deferred tax liabilities are as follows (in thousands):

	As of December 31,
	2018				2017
In-process research and development not subject to future amortization for tax purposes	$	1,785			$	3,438
Gross deferred tax liability	$	1,785			$	3,438

The net deferred tax liabilities are as follows (in thousands):

	As of December 31,
	2018				2017
Net deferred tax asset	$	1,428			$	1,765
Gross deferred tax liability	1,785				3,438
Net deferred tax liability	$	357			$	1,673

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from the provision computed by applying the federal statutory rate to net loss before income taxes as follows:

	As of December 31,
	2018			2017
U.S. federal statutory income tax rate	(21.0	)%		(34.0	)%
State and local taxes, net of federal benefit	(1.0	)%		0.4	%
Foreign rate differential	8.6	%		34.4	%
Permanent differences	(1.5	)%		1.1	%
Tax rate change and true-up	(13.9	)%		0.3	%
Other	0.1	%		0.2	%
Valuation allowance	23.5	%		0.1	%
Tax credits	0.5	%		(1.4	)%
Effective income tax rate	(4.7	)%		1.1	%

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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.

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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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