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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Taxes  
Schedule of loss before income taxes by jurisdiction

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2016

 

2015

 

2014

 

U.S. operations

 

$

(40,597)

 

$

(11,823)

 

$

(8,517)

 

Foreign operations

 

 

(7,482)

 

 

(8,740)

 

 

 —

 

Loss before income taxes

 

$

(48,079)

 

$

(20,563)

 

$

(8,517)

 

 

Reconciliation of statutory to effective rate

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2016

 

2015

    

2014

 

Federal statutory income tax rate

    

(34.0)

%  

(34.0)

%  

(34.0)

%

State taxes, net of federal benefit

 

(5.2)

 

(3.8)

 

(6.6)

 

Foreign rate differential

 

3.2

 

6.0

 

 —

 

Permanent differences

 

1.8

 

 —

 

 —

 

Research and development tax credits

 

(2.0)

 

(1.5)

 

(1.0)

 

Change in deferred tax asset valuation allowance

 

36.2

 

33.3

 

41.6

 

Effective income tax rate

 

 —

%  

 —

%  

 —

%

 

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

 

 

 

 

 

 

 

 

 

December 31,

 

 

2016

 

2015

 

Deferred tax assets:

    

    

    

 

    

 

Net operating loss carryforwards

$

16,836

 

$

5,750

 

Capitalized start up costs

 

8,840

 

 

4,401

 

Research and development tax credit carryforwards

 

1,480

 

 

500

 

Capitalized research and development expenses

 

594

 

 

611

 

Intangible asset

 

1,403

 

 

1,650

 

Stock‑based compensation expenses

 

2,629

 

 

373

 

Property and equipment

 

199

 

 

 —

 

Other

 

2

 

 

1

 

Total deferred tax assets

 

31,983

 

 

13,286

 

Deferred tax liabilities:

 

 

 

 

 

 

     Section 481(a) adjustment

 

(1,257)

 

 

 

Other

 

 —

 

 

 

Total deferred tax liabilities

 

(1,257)

 

 

 —

 

Valuation allowance

 

(30,726)

 

 

(13,286)

 

Net deferred tax assets

$

 —

 

$

 —

 

 

Changes in deferred tax asset valuation allowance

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Valuation allowance at beginning of year

$

(13,286)

    

$

(6,444)

    

$

(2,899)

 

Decreases recorded as benefit to income tax provision

 

 —

 

 

 

 

 

Increases recorded to income tax provision

 

(17,440)

 

 

(6,842)

 

 

(3,545)

 

Valuation allowance as of end of year

$

(30,726)

 

$

(13,286)

 

$

(6,444)

 

 

Schedule of Changes in Unrecognized Tax Benefits

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

 

2016

 

2015

 

2014

Unrecognized tax benefits at beginning of year

 

$

(4,400)

 

$

 —

 

$

 —

Increases related to prior year tax provisions

 

 

 

 

 

(2,624)

 

 

 —

Decreases related to prior year tax provisions

 

 

4,400

 

 

 —

 

 

 —

Increases related to current year tax provisions

 

 

 

 

 

(1,776)

 

 

 —

Unrecognized tax benefits as of end of year

 

$

 —

 

$

(4,400)

 

$

 —