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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Taxes  
Schedule of loss before income taxes by jurisdiction

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

U.S. operations

 

$

(11,823)

 

$

(8,517)

 

$

(5,236)

 

Foreign operations

 

 

(8,740)

 

 

 —

 

 

 —

 

Loss before income taxes

 

$

(20,563)

 

$

(8,517)

 

$

(5,236)

 

 

Reconciliation of statutory to effective rate

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2015

 

2014

    

2013

 

Federal statutory income tax rate

    

(34.0)

%  

(34.0)

%  

(34.0)

%

State taxes, net of federal benefit

 

(3.8)

 

(6.6)

 

(6.6)

 

Foreign rate differential

 

6.0

 

 —

 

 —

 

Research and development tax credits

 

(1.5)

 

(1.0)

 

(1.6)

 

Change in deferred tax asset valuation allowance

 

33.3

 

41.6

 

42.2

 

Effective income tax rate

 

 —

%  

 —

%  

 —

%

 

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

 

 

 

 

 

 

 

 

 

December 31,

 

 

2015

 

2014

 

Deferred tax assets:

    

    

    

 

    

 

Net operating loss carryforwards

$

5,750

 

$

5,606

 

Capitalized start up costs

 

4,401

 

 

 —

 

Research and development tax credit carryforwards

 

500

 

 

203

 

Capitalized research and development expenses

 

611

 

 

620

 

Intangible asset

 

1,650

 

 

 —

 

Stock‑based compensation expenses

 

373

 

 

11

 

Other

 

1

 

 

4

 

Total deferred tax assets

 

13,286

 

 

6,444

 

Deferred tax liabilities:

 

 

 

 

 

 

Other

 

 —

 

 

 

Total deferred tax liabilities

 

 —

 

 

 

Valuation allowance

 

(13,286)

 

 

(6,444)

 

Net deferred tax assets

$

 —

 

$

 

 

Changes in deferred tax asset valuation allowance

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

Valuation allowance at beginning of year

$

(6,444)

    

$

(2,899)

    

$

(690)

 

Decreases recorded as benefit to income tax provision

 

 —

 

 

 

 

 

Increases recorded to income tax provision

 

(6,842)

 

 

(3,545)

 

 

(2,209)

 

Valuation allowance as of end of year

$

(13,286)

 

$

(6,444)

 

$

(2,899)

 

 

Schedule of Changes in Unrecognized Tax Benefits

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

 

2015

 

2014

 

2013

Unrecognized tax benefits at beginning of year

 

$

 —

 

$

 —

 

$

 —

Increases related to prior year tax provisions

 

 

(2,624)

 

 

 —

 

 

 —

Increases related to current year tax provisions

 

 

(1,776)

 

 

 —

 

 

 —

Unrecognized tax benefits as of end of year

 

$

(4,400)

 

$

 —

 

$

 —