XML 52 R37.htm IDEA: XBRL DOCUMENT v3.19.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense (benefit)

The components of the provision for income taxes are presented in the following table:

	Year Ended December 31,
	2018				2017				2016
Current:
Federal	$	—			$	—			$	—
State	—				—				—
Foreign	2,170,000				—				—
	2,170,000				—				—
Deferred:
Federal	—				—
State	—				—				—
Foreign	—				—				—
	—				—				—
	$	2,170,000			$	—			$	—

Schedule of effective income tax rate reconciliation

The reconciliation of income taxes attributable to continuing operations computed at the statutory tax rates to income tax expense (recovery), using a 21% statutory tax rate for December 31, 2018, and 35% statutory tax rate for December 31, 2017 and 2016, is as follows:

	Year Ended December 31,
	2018				2017				2016
Income (benefit) taxes at statutory rates	$	(19,908,000	)		$	(30,872,000	)		$	(25,809,000	)
State income tax, net of federal benefit	(4,000		)		(4,000		)		(4,000		)
Foreign income taxes	2,170,000				—				—
Change in valuation allowance	20,898,000				(20,965,000		)		29,678,000
Research and development tax credits	(3,170,000		)		(3,456,000		)		(3,117,000		)
Fair value warrant	(76,000		)		(282,000		)		(47,000		)
Stock compensation	1,094,000				2,332,000				113,000
Uncertain tax positions	1,268,000				846,000				1,367,000
Expired NOLs and credits	2,176,000				454,000				4,269,000
Limited NOLs and credits	(2,176,000		)		(165,000		)		(6,456,000		)
Change in tax rates	—				50,019,000				(495,000		)
Other	(102,000		)		2,093,000				501,000
	$	2,170,000			$	—			$	—

Schedule of deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2018 and 2017 are shown below:

	As of December 31,
	2018				2017
Deferred tax assets:
Capitalized research expense	$	7,408,000			$	8,546,000
Net operating loss carryforwards	89,399,000				71,665,000
Research and development and other tax credits	9,432,000				7,531,000
Deferred revenue	985,000				297,000
Deferred rent	2,013,000				2,097,000
Stock-based compensation	3,408,000				3,091,000
Acquired intangibles	912,000				858,000
Other	2,693,000				1,906,000
	116,250,000				95,991,000
Valuation allowance	(115,007,000		)		(94,039,000		)
Total deferred tax assets	1,243,000				1,952,000
Deferred tax liabilities:
Acquired intangibles	(142,000		)		(124,000		)
Investment in affiliated entity	(4,000		)		(422,000		)
Fixed assets	(1,121,000		)		(1,430,000		)
Net deferred tax liabilities	$	(24,000	)		$	(24,000	)

Schedule of operating loss and tax credit carryforward expirations

Based upon statute, federal and state losses and credits are expected to expire as follows (in millions):

Expiration Date:	Federal NOLs				State NOLs				Federal R&D				State R&D
2019	$	2.4			$	—			$	—			$	—
2020	1.6				—				—				—
2021	2.3				0.3				—				—
2022	6.0				0.3				—				—
2023	4.5				0.4				—				—
2024 and thereafter	280.0				143.2				13.8				—
Indefinite	86.5				—				—				2.7
	$	383.3			$	144.2			$	13.8			$	2.7

Schedule of unrecognized tax benefits rollforward

The following table summarizes the activity related to the Company's unrecognized tax benefits:

	Year ended December 31,
	2018				2017				2016
Balance at beginning of the year	$	8,313,000			$	6,855,000			$	5,455,000
Increases related to current year tax positions	1,319,000				1,532,000				1,183,000
Increases (decreases) related to prior year tax positions	—				(74,000		)		217,000
Balance at end of the year	$	9,632,000			$	8,313,000			$	6,855,000

X

- Definition

Schedule of Operating Loss and Tax Credit Carryforward Expirations [Table Text Block]

+ References

No definition available.

+ Details

Name:	ino_ScheduleofOperatingLossandTaxCreditCarryforwardExpirationsTableTextBlock
Namespace Prefix:	ino_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=109238393&loc=d3e36027-109320

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration