Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.7.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of significant components of deferred tax assets
Significant components of the Company's deferred tax assets are as follows (in thousands):
 
 
   
December 31,
 
   
2016
   
2015
 
Deferred tax assets:
           
Net operating losses
 
$
57,903
   
$
49,145
 
Research & other credits
   
2,121
     
1,978
 
Stock based compensation
   
2,164
     
1,047
 
In-Process R&D
   
1,246
     
 
Accrued bankruptcy settlement
   
     
1,328
 
Other
   
761
     
222
 
Total deferred tax assets
   
64,195
     
53,720
 
Valuation allowance
   
(64,195
)
   
(53,720
)
Net deferred tax assets
 
$
   
$
 
Schedule of reconciliation of the statutory tax rates and the effective tax rates
A reconciliation of the statutory tax rates and the effective tax rates for the years ended December 2016 and 2015 is as follows:
 
   
Year Ended December 31,
 
   
2016
   
2015
 
Statutory rate
   
34.0
%
   
34.0
%
Valuation allowance
   
(34.8
)
   
(31.1
)
Nondeductible stock compensation
   
(0.1
)
   
(2.9
)
Other
   
0.9
   
-
Effective tax rate
   
-
%
   
-
%
Reconciliation of Beginning And Ending Amount Of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
 
Balance at December 31, 2014
 
$
856
 
Additions based on tax positions related to prior year
   
-
 
Additions based on tax positions related to current year
   
212
 
Balance at December 31, 2015
   
1,068
 
Reduction based on tax positions related to prior year
   
(9
)
Additions based on tax positions related to current year
   
68
 
Balance at December 31, 2016
 
$
1,127