INCOME TAXES (Tables)

12 Months Ended

Jan. 31, 2016

INCOME TAXES

Summary of components of deferred tax assets

        Significant components of the Company's deferred tax assets were as follows (in thousands):

	January 31,
	2016			2015
Deferred tax assets:
Net operating loss carryforwards	$	7,727		$	3,538
Stock-based compensation expense		577			—
Tax credit carryforwards		311			—
Other		216			50
Total deferred tax assets		8,831			3,588
Less: Valuation allowance		(8,831	)		(3,588	)
Net deferred tax assets	$	—		$	—

Schedule of reconciliation of income taxes at the federal statutory rate to the actual income tax provision

        A reconciliation of income taxes provided at the federal statutory rate (34%) to the actual income tax provision was as follows (in thousands):

	Year ended January 31,
	2016
Income tax benefit computed at U.S. statutory rate	$	(5,302	)
State income tax (net of federal benefit)		(838	)
Stock-based compensation		200
Warrant valuation		148
Research and development credits		(128	)
Change in valuation allowance		5,904
Other		20
Income tax provision	$	4