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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

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,
	2019				2018				2017
Current:
Federal	$	4,000			$	—			$	—
State	2,000				—				—
Foreign	—				2,170,000				—
	6,000				2,170,000				—
Deferred:
Federal	(263,000		)		—
State	—				—				—
Foreign	—				—				—
	(263,000		)		—				—
	$	(257,000	)		$	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 (benefit), using a 21% statutory tax rate for December 31, 2019 and 2018, and 35% statutory tax rate for December 31, 2017, is as follows:

	Year Ended December 31,
	2019				2018				2017
Income (benefit) taxes at statutory rates	$	(25,370,000	)		$	(19,908,000	)		$	(30,872,000	)
State income tax, net of federal benefit	—				(4,000		)		(4,000		)
Foreign income taxes	—				2,170,000				—
Change in valuation allowance	25,457,000				20,898,000				(20,965,000		)
Research and development tax credits	(3,838,000		)		(3,170,000		)		(3,456,000		)
Change in fair value of warrants	—				(76,000		)		(282,000		)
Stock-based compensation	1,114,000				1,094,000				2,332,000
Uncertain tax positions	1,537,000				1,268,000				846,000
Expired NOLs and credits	616,000				2,176,000				454,000
Limited NOLs and credits	(616,000		)		(2,176,000		)		(165,000		)
Change in tax rates	12,000				—				50,019,000
Other	831,000				(102,000		)		2,093,000
	$	(257,000	)		$	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, 2019 and 2018 are shown below:

	As of December 31,
	2019				2018
Deferred tax assets:
Capitalized research expense	$	6,300,000			$	7,408,000
NOL carryforwards	110,788,000				89,399,000
Research and development and other tax credits	11,737,000				9,432,000
Deferred revenue	1,506,000				985,000
Deferred rent	—				2,013,000
Stock-based compensation	3,255,000				3,408,000
Acquired intangibles	889,000				912,000
Derivative liability	1,852,000				—
Interest expense	1,122,000				—
Investment in affiliated entity	645,000				—
Lease liability	4,722,000				—
Other	2,413,000				2,693,000
	145,229,000				116,250,000
Valuation allowance	(137,159,000		)		(115,007,000		)
Total deferred tax assets	8,070,000				1,243,000
Deferred tax liabilities:
Acquired intangibles	(160,000		)		(142,000		)
Investment in affiliated entity	—				(4,000		)
Right of use asset	(2,894,000		)		—
Note discount	(2,862,000		)		—
Convertible note	(1,381,000		)		—
Fixed assets	(805,000		)		(1,121,000		)
Net deferred tax liabilities	$	(32,000	)		$	(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
2020	$	1.6			$	—			$	—			$	—
2021	2.3				0.3				—				—
2022	6.0				0.3				—				—
2023	4.5				0.4				—				—
2024 and thereafter	282.3				148.1				17.3				—
Indefinite	186.6				—				—				3.2
	$	483.3			$	149.1			$	17.3			$	3.2

Schedule of unrecognized tax benefits rollforward

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

	Year ended December 31,
	2019				2018				2017
Balance at beginning of the year	$	9,632,000			$	8,313,000			$	6,855,000
Increases related to current year tax positions	1,575,000				1,319,000				1,532,000
Increases (decreases) related to prior year tax positions	(3,000		)		—				(74,000		)
Balance at end of the year	$	11,204,000			$	9,632,000			$	8,313,000

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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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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 the change in unrecognized tax benefits.

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