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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
Income Taxes |
Summary of reconciliation of federal statutory income tax rate to the Company's effective income tax rate |
|  | December 31, |
|  | 2018 |  | 2017 |
Expected income tax benefit at the federal statutory rate |  | 21.0 | % | 34.0 | %
State taxes, net of federal benefit |  | 6.5 |  | 6.5 |
Research and development credit, net |  | 7.2 |  | 4.7 |
Non-deductible items |  | (2.2) |  | (5.3) |
Prior year provision to return adjustments |  | (7.7) |  | 4.1 |
Tax rate reduction due to the Tax Act |  | — |  | (15.6) |
Other |  | 0.3 |  | (2.9) |
Change in valuation allowance |  | (25.1) |  | (25.5) |
Total |  | — | % | — | %
Summary of components of deferred tax assets | The principal components of the Company’s deferred tax assets consisted of the following as of December 31, 2018 and 2017 (in thousands):
|  | December 31,
|  | 2018 |  | 2017
Deferred tax assets: |  |  |  |  |  |
Federal and state net operating loss carryforwards |  | $ | 11,946 |  | $ | 6,176
Research and development tax credits |  |  | 3,393 |  |  | 1,283
Charitable contribution carryforwards |  |  | 165 |  |  | 153
Accruals |  |  | 290 |  |  | 135
Other |  |  | 23 |  |  | 4
Gross deferred tax assets |  |  | 15,817 |  |  | 7,751
Less: valuation allowance |  |  | (15,525) |  |  | (7,491)
Total deferred tax assets |  | $ | 292 |  | $ | 260
Deferred tax liabilities: |  |  |  |  |  |
Depreciation and amortization |  | $ | (292) |  | $ | (260)
Gross deferred tax liabilities |  | $ | (292) |  | $ | (260)
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://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
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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://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
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