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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Taxes [Abstract] |
Components of Deferred Tax Assets | Significant components of our deferred tax assets and liabilities are as follows:
|  | December 31,
|  | 2015 |  | 2014
Deferred tax assets/(liabilities) |  |  |  |  |  |
Net operating loss carry-forwards |  | $ | 65,425,000 |  | $ | 61,332,000
Research and orphan drug credit carry-forwards |  |  | 5,181,000 |  |  | 3,855,000
Depreciation and amortization |  |  | (3,000) |  |  | (8,000)
Stock options and other |  |  | 479,000 |  |  | 1,381,000
Intangible assets |  |  | (3,079,000) |  |  | (3,155,000)
Net deferred tax assets/(liabilities) |  |  | 68,003,000 |  |  | 63,405,000
Valuation allowance for deferred tax assets |  |  | (71,008,000) |  |  | (66,483,000)
Net deferred tax assets/(liabilities) |  | $ | (3,005,000) |  | $ | (3,078,000)
Reconciliation of Statutory to Effective Tax Rates |
|  | December 31,
|  | 2015 |  | 2014
Percent of pre-tax income: |  |  |  |  |  |
U.S. federal statutory income tax rate |  | 34.0 | % |  | 34.0 | %
Warrant liability and preferred stock conversion liability |  | 573.8 | % |  | (54.9) | %
Difference in foreign vs U.S. statutory rates |  | (21.8) | % |  | - | %
Stock option forfeitures & expirations |  | (138.2) | % |  | - | %
State taxes, net of federal benefit |  | - | % |  | 3.7 | %
Non-deductible stock issuance costs |  | (17.9) | % |  | - | %
R&D expenses associated with Australian research grants |  | 27.8 | % |  | - | %
Effect of tax rate changes |  | 12.4 | % |  |  | %
All other |  | (2.9) | % |  | 1.0 | %
Subtotal |  | 467.2 | % |  | (16.2) | %
Change in valuation allowance |  | (454.8) | % |  | 16.2 | %
Effective income tax rate |  | 12.4 | % |  | 0.00 | %

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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 + Details
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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 + Details
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