Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Taxes

Schedule of reconciliation of difference between federal statutory rate and effective income tax rate

	Year ended				Year ended				Year ended
	December 31, 2017				December 31, 2016				December 31, 2015
	Amount		Tax Rate		Amount		Tax Rate		Amount		Tax Rate
Federal statutory rate	$	(74,137)	34.00	%	$	(28,224)	34.00	%	$	(13,081)	34.00	%
Permanent differences		(1,203)	0.55	%		3,991	(4.73)	%		6,077	(15.80)	%
State taxes		(11,498)	5.27	%		(2,453)	2.97	%		(1,275)	3.31	%
Change in statutory rate		37,162	(17.04)	%		—	—	%		—	—	%
Research and development credit		(4,989)	2.29	%		(8,891)	10.55	%		(220)	0.57	%
Valuation allowance		56,049	(25.70)	%		35,502	(42.70)	%		8,472	(21.38)	%
Other		(1,384)	0.63	%		75	(0.09)	%		27	(0.70)	%
Effective income tax rate	$	—	—	%	$	—	—	%	$	—	—	%

Schedule of significant components of deferred taxes

	December 31,
	2017				2016
	Assets		Liabilities		Assets		Liabilities
Current:
Accrued Expenses	$	2,950	$	—	$	2,995	$	—
Other		—		(32)		45		—
Subtotal		2,950		(32)		3,040		—
Valuation allowance		(2,918)		—		(3,040)		—
Total current deferred taxes		32		(32)		—		—
Net current deferred taxes	$	—	$	—	$	—	$	—
Long Term:
Net operating loss carryforwards	$	31,971	$	—	$	13,063	$	—
Capital loss carryforward		77		—		113		—
Research and development credit		23,391		—		13,733		—
State research and development credit		1,994		—		—		—
Capitalized research and development		34,472		—		11,797		—
Amortization		2,746		—		1,423		—
Stock-based compensation		9,370		—		6,264		—
Fixed assets		—		(1,474)		—		(17)
Subtotal		104,021		(1,474)		46,393		(17)
Valuation allowance		(102,547)		—		(46,376)		—
Total long-term deferred taxes	$	1,474	$	(1,474)	$	17	$	(17)
Net deferred tax assets/(liabilities)	$	—	$	—	$	—	$	—

Summary of changes to the valuation allowance

Valuation allowance at December 31, 2015	$	13,914
Additions for 2016		35,502
Change in tax rates		—
Valuation allowance at December 31, 2016		49,416
Additions for 2017		93,211
Change in tax rates		(37,162)
Valuation allowance at December 31, 2017	$	105,465