INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Income Taxes By Jurisdiction

The provision for income taxes by jurisdiction consists of the following as of December 31, 2020 and 2019 (in thousands):


	2020		2019
U.S. federal:
Current	$	—	$	—
Deferred	—		—
Total U.S. federal	—		—

U.S. state and local:
Current	1		1
Deferred	—		—
Total U.S. state and local	1		1

Foreign:
Current	—		—
Deferred	—		—
Total foreign	—		—

Provision for income taxes	$	1	$	1

Schedule of Income Taxes Differ From The Amounts Computed By Applying The U.S. Federal Income tax rate to pretax income (loss) before income Taxes

Income taxes differ from the amounts computed by applying the U.S. federal income tax rate to pretax income (loss) before income taxes as a result of the following (in thousands):


	2020		2019
Expected income tax benefit	$	(5,966)	$	(6,284)
State income tax (benefit), net of federal benefit	(1,961)		(2,476)
Valuation allowance	7,732		9,131
Permanent differences:
Stock options	353		493
Research & development credit	(560)		(715)
Adjustment to deferred taxes	400		(157)
Foreign rate differential	(1)		1
Other	4		8
Provision for income taxes	$	1	$	1

Schedule of Components of Deferred Income Tax

Deferred income tax consists of the following (in thousands):


	As of December 31, 2020		As of December 31, 2019
U.S. federal and state deferred tax assets—long term:
Accrued payroll	$	180	$	261
Accrued expenses	53		77
Fixed assets	17		—
Charitable contributions	14		—
Intangibles	431		390
Research & development credit	3,830		3,651
Net operating loss	35,279		27,568
Stock compensation	519		672
Lease liabilities	700		750
New jobs credit	8		8
Total long-term assets	41,031		33,377
Total deferred tax assets	41,031		33,377

U.S. federal and state deferred tax liabilities—long term:
Right of use assets	(621)		(701)
Total deferred tax liabilities	(621)		(701)
Net deferred tax assets - long term	40,410		32,676
Less: Valuation allowance	(40,410)		(32,676)
Net deferred tax assets	$	—	$	—

Foreign deferred tax assets—long term:
Net operating loss	$	6	$	8
Total foreign deferred tax assets	6		8





Less: Valuation allowance	(6)		(8)
Net deferred tax assets	$	—	$	—