INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense

The Company's provision for income tax benefit was as follows (in thousands):

	Year ended December 31,
	2015		2014		2013
Current:
Federal	$	—	$	—	$	(23	)
State	—		—		—
Canada	—		—		—
Total current tax benefit	$	—	$	—	$	(23	)

Schedule of Effective Income Tax Reconciliation

The differences between the effective income tax rate and the statutory tax rates during the years ended 2015, 2014 and 2013 are as follows (in thousands):

	Year Ended December 31,
	2015			2014			2013
Net loss before tax	$	(64,544	)	$	(43,698	)	$	(52,882	)
Statutory combined US federal and state tax rate	34.00		%	39.83		%	39.83		%
Statutory federal and state taxes	(21,945		)	(17,405		)	(21,063		)
Increase (decrease) in taxes recoverable resulting from:
Effect of change in valuation allowance	22,350			12,273			8,537
Non-deductible share-based compensation	923			930			1,085
Non-deductible warrant expenses for tax purposes	—			1,799			8,403
Tax credits	(1,814		)	(180		)	(96		)
Share issue costs - temporary difference	(184		)	(184		)	(184		)
Share issue costs - permanent difference	—			—			206
Differential in income tax rates of foreign subsidiary	31			3,047			3,059
Other differences	639			(280		)	30
Income tax benefit	$	—		$	—		$	(23	)

Schedule of deferred tax

The following table summarizes the significant components of our deferred tax assets (in thousands):

	December 31,
	2015			2014
Deferred tax assets:
Tangible and intangible depreciable assets	$	199		$	185
Stock compensation	4,429			2,360
Manufactured drug product inventory to be used in research	—			1,425
Provisions	725			554
Financing fees	78			261
Net operating loss carry forwards	42,864			23,243
Capital loss carryforward	102			—
Scientific research and experimental development expenditures	5,552			5,715
Research and development tax credits	2,411			266
Total gross deferred tax assets	56,360			34,009
Less valuation allowance	(56,360		)	(34,009		)
Net deferred tax assets	$	—		$	—

Schedule of expiration of NOLs

The NOLs expire as follows (in thousands):

	US				Canada
	Federal		State		Federal		Provincial
Expires in:
2030	$	—	$	—	$	5,907	$	5,985
2031	—		—		7,059		7,066
2032	—		—		13,312		12,433
2033	3,236		2,286		18,623		19,385
2034	7,276		22,162		32,401		31,809
2035	53,341		—		1,117		1,116
	$	63,853	$	24,448	$	78,419	$	77,794

Schedule of reconciliation of the beginning and ending gross amounts of unrecognized tax positions

A reconciliation of the beginning and ending amounts of unrecognized tax positions are as follows (in thousands):

	Federal									Provincial/State
	December 31,									December 31,
	2015			2014			2013			2015			2014		2013
Unrecognized tax positions, beginning of year	$	42		$	35		$	43		$	18		$	6	$	2
Gross increase — current period tax positions	445			35			—			259			12		—
Gross decrease — prior period tax positions	(4		)	(28		)	(13		)	(3		)	—		—
Gross increase — prior period tax positions	26			—			5			2,000			—		4
Unrecognized tax positions, end of year	$	509		$	42		$	35		$	2,274		$	18	$	6