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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Taxes  
Summary of Significant components of the Company’s deferred tax assets

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2019

    

2018

Deferred tax assets

 

 

 

 

 

  

Net operating loss carryforwards

 

$

32,704

 

$

26,993

Research and development credits

 

 

853

 

 

701

Depreciation and amortization

 

 

578

 

 

825

Accrued LifeCell settlement

 

 

 —

 

 

252

Accrued expenses and other

 

 

259

 

 

191

Inventory reserve

 

 

417

 

 

425

Gross deferred tax asset

 

 

34,811

 

 

29,387

Valuation allowance

 

 

(34,811)

 

 

(29,387)

Net deferred tax asset

 

$

 —

 

$

 —

 

Schedule of Company’s net operating loss (NOL) carryforwards

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2019

    

2018

NOL carryforwards

 

 

 

 

 

 

Federal

 

$

122,925

 

$

99,939

State

 

 

106,062

 

 

91,797

 

Schedule of reconciliation of income tax benefit

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

    

2019

    

2018

 

2017

 

Rate reconciliation

 

  

 

  

 

 

 

Federal tax benefit at statutory rate

 

(21.0)

%  

(21.0)

%

(34.0)

%

State rate, net of federal benefit

 

(2.9)

 

(4.7)

 

(5.2)

 

Permanent differences

 

0.4

 

0.5

 

5.5

 

Change in federal rate

 

 —

 

 —

 

48.0

 

Research and development

 

(0.7)

 

(0.8)

 

 —

 

Change in valuation allowance

 

24.2

 

26.3

 

(15.1)

 

Other

 

 —

 

(0.3)

 

0.8

 

Total tax provision

 

 —

%  

 —

%

 —

%