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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Components of Income Taxes (Benefit)

The Company’s benefit from income taxes is as follows:

 

     December 31,  
         2015              2014              2013      

Current:

        

Federal

   $ —         $ —         $ —     

State

     (397      (201      (30
  

 

 

    

 

 

    

 

 

 
     (397      (201      (30
  

 

 

    

 

 

    

 

 

 

Deferred:

        

Federal

     —          —          —    

State

     —          —          —    
  

 

 

    

 

 

    

 

 

 
     —          —          —    
  

 

 

    

 

 

    

 

 

 

Benefit from income taxes

   $ (397    $ (201    $ (30
  

 

 

    

 

 

    

 

 

 
Schedule of Reconciliation of Income Taxes Computed Using U.S. Federal Statutory Rate to that Reflected in Operations

A reconciliation of income taxes computed using the U.S. federal statutory rate to that reflected in operations is as follows:

 

     December 31,  
         2015             2014             2013      

Income taxes using U.S. federal statutory rate

     34.00     34.00     34.00

State income taxes, net of federal benefit

     5.95     5.23     6.03

Impact of R&D tax credit on effective tax rate

     3.14     3.03     12.04

Stock option shortfalls and cancellations

     -0.03     -0.69     0.00

Permanent items and other

     -0.41     -0.57     -1.42

Change in valuation allowance

     -41.07     -39.88     -49.90
  

 

 

   

 

 

   

 

 

 
     1.58     1.12     0.75
  

 

 

   

 

 

   

 

 

 
Schedule of Significant Components of Company's Deferred Tax Assets

Significant components of the Company’s deferred tax assets are as follows:

 

     December 31,  
     2015      2014  

Net operating loss carryforwards

   $ 36,217       $ 27,094   

Federal and state tax credits

     4,315         3,508   

Accelerated depreciation

     1,206         1,018   

Deferred revenue

     —           566   

Stock-based compensation expense

     1,106         333   

Other

     189         197   
  

 

 

    

 

 

 
     43,033         32,716   

Valuation allowance

     (43,033      (32,716
  

 

 

    

 

 

 

Net deferred tax asset

   $ —        $ —