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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Components of Income Taxes (Benefit)

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

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 

​

    

2021

    

2020

    

2019

Current:

 

​

  

 

​

  

 

​

  

Federal

​

$

—

​

$

—

​

$

—

State

​

 

—

​

 

(691)

​

 

(816)

​

​

 

—

​

 

(691)

​

 

(816)

Deferred:

​

 

  

​

 

  

​

 

  

Federal

​

 

—

​

 

—

​

 

—

State

​

 

—

​

 

—

​

 

—

​

​

 

—

​

 

—

​

 

—

Benefit from income taxes

​

$

—

​

$

(691)

​

$

(816)

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, 

 

​

    

2021

    

2020

    

2019

 

Income taxes using U.S. federal statutory rate

 

21.00

%  

21.00

%  

21.00

%

State income taxes, net of federal benefit

 

7.84

%  

(58.68)

%  

(1.99)

%

Tax Cuts and Jobs Act

 

0.00

%  

0.00

%  

0.00

%

Impact of R&D tax credit on effective tax rate

 

2.87

%  

(52.06)

%  

4.34

%

Stock option shortfalls and cancellations

 

(4.74)

%  

0.35

%  

(0.17)

%

Permanent items and other

 

(1.29)

%  

(5.08)

%  

0.36

%

Change in valuation allowance

 

(25.69)

%  

84.61

%  

(22.76)

%

Provision to return

 

0.01

%  

0.92

%  

(0.02)

%

Non-taxable revenue

 

0.00

%  

0.00

%  

0.00

%

​

 

0.00

%  

(8.94)

%  

0.76

%

​

Schedule of Significant Components of Company's Deferred Tax Assets and Liabilities

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

​

​

​

​

​

​

​

​

​

December 31, 

​

    

2021

    

2020

Valuation allowance

 

$

(143,388)

 

$

(120,666)

​

​

​

​

​

​

​

Net operating loss carryforwards

​

​

113,636

​

​

93,507

Federal and state tax credits

​

 

24,428

​

 

19,982

Deferred revenue

​

 

—

​

 

—

Stock-based compensation expense

​

 

5,023

​

 

6,732

Other

​

 

1,268

​

 

2,414

Deferred tax assets

​

 

144,355

​

 

122,635

​

​

​

​

​

​

​

Other

​

 

(967)

​

 

(1,969)

Deferred tax liabilities:

​

 

(967)

​

 

(1,969)

​

​

 

​

​

 

​

Net deferred tax asset:

​

$

—

​

$

—

​