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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Taxes |
Schedule of reconciliation of income taxes computed using the U.S. federal statutory rate to that reflected in operations |
|  | Year Ended December 31, 2014 |  | Year Ended December 31, 2013 |  | Year Ended December 31, 2012 |
Income tax benefit using U.S. federal statutory rate |  |  | 34.00 | % |  | 34.00 | % |  | 34.00 | %
State income taxes, net of federal benefit |  |  | 5.28 | % |  | 5.28 | % |  | 5.42 | %
Research and development tax credits |  |  | 1.75 | % |  | 2.31 | % |  | 0.00 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Permanent items |  |  | (0.55 | )% |  | (1.09 | )% |  | (2.78 | )%
Foreign differential |  |  | (1.59 | )% |  | —% |  |  | —% |
Other adjustments (state) |  |  | (0.03 | )% |  | —% |  |  | —% |
Change in the valuation allowance |  |  | (38.86 | )% |  | (40.50 | )% |  | (36.64 | )%
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|  |  | — | % |  | — | % |  | — | %
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Schedule of principal components of deferred tax assets | The principal components of our deferred tax assets are as follows (in thousands):
|  | 2014 |  | 2013 |
Deferred Tax Assets: |  |  |  |  |  |  |
Net operating loss carryforwards |  |  | 26,133 |  |  | 12,939 |
Tax credit carryforwards |  |  | 1,689 |  |  | 823 |
Accrued Expenses |  |  | 655 |  |  | 190 |
Stock based compensation |  |  | 5,591 |  |  | 1,602 |
Intangibles |  |  | 2,536 |  |  | 1,954 |
Other |  |  | 305 |  |  | 160 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross deferred tax assets |  |  | 36,909 |  |  | 17,668 |
Valuation allowance |  |  | (36,909 | ) |  | (17,668 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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 + 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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