Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

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,
	2019			2018
Current:
State	$	1		$	1
Total current provision	1			1
Deferred:
Federal	(2,634		)	(1,307		)
State	(148		)	(2,428		)
Total deferred (benefit) expense	(2,782		)	(3,735		)
Valuation allowance	2,781			3,734
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,
	2019					2018
Tax computed at the federal statutory rate	$	(3,447	)	21	%	$	(3,457	)	21	%
State tax, net of federal tax benefit	(177		)	1	%	(184		)	1	%
Permanent Items	353			(2	)%	481			(3	)%
Stock options true-up	875			(5	)%	—			—	%
Tax credits	(384		)	2	%	(574		)	3	%
Valuation allowance increase (decrease)	2,780			(17	)%	3,734			(22	)%
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,
	2019			2018
Deferred tax assets:
Tax loss carryforwards	$	38,494		$	35,019
Research and development credits and other tax credits	3,710			3,595
Stock-based compensation	531			1,301
Other	1,252			1,126
Total deferred tax assets	43,987			41,041
Deferred tax liabilities:
Operating lease right-of-use assets	(154		)	—
Other	(12		)	—
Total deferred tax liabilities	(166		)	—
Net deferred tax assets before valuation allowance	43,821			41,041
Valuation allowance	(43,821		)	(41,041		)
Net deferred tax asset	$	—		$	—