Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Provision for Income Taxes Based on Losses from Continuing Operations

The provision for income taxes based on losses from continuing operations consists of the following at December 31 (in thousands):



	Years ended December 31,
	2016			2015			2014
Deferred benefit
Federal	$	(14,035	)	$	(9,602	)	$	(5,651	)
State	(2,443		)	(1,742		)	(449		)
Foreign	(114		)	—			—
Total deferred benefit	(16,592		)	(11,344		)	(6,100		)
Valuation allowance	16,592			11,344			6,100
Total income tax provision	$	—		$	—		$	—

Schedule of Significant Components of the Company’s Taxes and the Rates

Significant components of the Company’s taxes and the rates as of December 31 are shown below (in thousands, except percentages):



	Years ended December 31,
	2016					2015
Tax computed at the federal statutory rate	$	(13,206	)	34	%	$	(9,340	)	34	%
State tax, net of federal tax benefit	(2,286		)	6	%	(1,559		)	6	%
Foreign Tax	(114		)	—	%	—			—	%
Permanent Items	(114		)	—	%	258			(1	)%
Tax credits	(1,276		)	3	%	(997		)	3	%
Valuation allowance increase	16,996			(43	)%	11,638			(42	)%
Provision for income taxes	$	—		—	%	$	—		—	%

Schedule of Significant Components of the Company’s Deferred Tax Assets

Significant components of the Company’s deferred tax assets and liabilities from federal and state income taxes as of December 31 are shown below (in thousands):



	Years ended December 31,
	2016			2015
Deferred tax assets
Tax loss carryforwards	$	41,502		$	27,962
Research and development credits and other tax credits	2,817			1,698
Stock-based compensation	4,658			3,225
Other	1,283			782
Total deferred tax assets	50,260			33,667
Valuation allowance	(50,260		)	(33,667		)
Net deferred tax asset	$	—		$	—