Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Reconciliation of Income Tax Benefit Computed at Statutory Federal Income Tax Rate to Income Taxes

A reconciliation of income tax benefit computed at the statutory federal income tax rate to income taxes as reflected in the financial statements is as follows:

	For the years ended December 31,
	2020			2019			2018
U.S. federal tax at statutory rate		21.0	%		21.0	%		21.0	%
Change in state tax apportionment		0.1	%		(17.4	)%		15.8	%
Stock compensation		0.9	%		(0.7	)%		0.0	%
Section 382 limitation		0.0	%		0.0	%		(38.7	)%
Valuation allowance		(35.0	)%		(5.1	)%		3.5	%
Tax credits		13.5	%		0.0	%		0.0	%
Other		(0.5	)%		2.1	%		(1.6	)%
Effective tax rate		0	%		0	%		0	%

Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred income tax assets and liabilities after applying the enacted corporate tax rates are as follows:

	At December 31,
	2020			2019			2018
Deferred income tax assets (liabilities)
Net operating losses (“NOL”)	$	42,613		$	18,471		$	27,825
R&D Credits		21,359			2,517			575
Capitalized research and development costs		23,179			27,652			17,098
Other		1,189			643			1,385
Stock-based compensation		7,406			3,896			4,563
Debt discount		(748	)		(1,460	)		(3,652	)
Warrants		5,585			-			-
Valuation allowance		(100,583	)		(51,719	)		(47,794	)
Net deferred income tax asset	$	-		$	-		$	-