XML 55 R38.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Reconciliation of Differences Between Income Taxes

The following reconciles the differences between income taxes computed at the federal income tax rate and the provision for income taxes:

 

 

 

Year Ended December 31,

 

 

2015

 

 

2014

 

 

2013

 

 

Expected income tax benefit at the federal statutory

rate

 

34.0

 

%

 

34.0

 

%

 

34.0

 

%

State taxes, net of federal benefit

 

 

(0.8

)

 

 

3.7

 

 

 

1.5

 

 

Change in effective tax rate

 

 

(0.9

)

 

 

1.3

 

 

 

0.0

 

 

Non-deductible items and other

 

 

(0.5

)

 

 

0.4

 

 

 

(2.1

)

 

Federal and state credits

 

 

(0.7

)

 

 

1.2

 

 

 

2.0

 

 

Change in valuation allowance

 

 

(31.10

)

 

 

(40.60

)

 

 

(35.40

)

 

Total

 

 

0.0

 

%

 

0.0

 

%

 

0.0

 

%

 

Schedule of Deferred Tax Assets

The principal components of the Company’s net deferred tax assets consisted of the following at December 31, 2015 and 2014 (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2015

 

 

2014

 

Net operating loss carryforwards

 

$

60,979

 

 

$

46,024

 

Research and development tax credits

 

 

1,731

 

 

 

2,441

 

Reserves and accruals

 

 

966

 

 

 

724

 

Other

 

 

2,433

 

 

 

2,948

 

Total deferred tax assets

 

 

66,109

 

 

 

52,137

 

Valuation allowance

 

 

(66,109

)

 

 

(52,137

)

Net deferred tax assets

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

 

Schedule of Unrecognized Tax Benefits

At December 31, 2015 and 2014, the Company’s unrecognized tax benefits consist of the following:

 

 

 

Year Ended December 31,

 

 

 

2015

 

 

2014

 

Unrecognized tax benefit, beginning of period

 

$

 

 

$

 

Gross increases — current year tax positions

 

 

130

 

 

 

 

Gross decreases — current year tax positions

 

 

 

 

 

 

Gross increases — prior year tax positions

 

 

612

 

 

 

 

Unrecognized tax benefit, end of period

 

$

742

 

 

$