INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

INCOME TAXES

Schedule of domestic and foreign loss before income taxes

	For The		For The
	Year Ended		Year Ended
	December 31,		December 31,
	2019		2018
	(thousands)		(thousands)
United States	$	(80,598)	$	(42,456)
Foreign		(430)		(818)
Total	$	(81,028)	$	(43,274)

Schedule of difference between incomes taxes expected at U.S. federal statutory income tax rate and income taxes

	December 31, 2019		December 31, 2018
	(thousands)		(thousands)
Taxes on income at U.S. federal statutory rate	$	(17,016)	$	(9,127)
State and local taxes, net of federal tax effects		(11,022)		(5,778)
Effect of rate change		(22)		(9)
Foreign tax rate differential		(4)		(8)
Valuation allowance		33,984		16,376
Tax credits		(5,924)		(1,431)
Other		4		(23)
Total		—		—

Schedule of significant components of net deferred tax assets/(liabilities)

	December 31, 2019		December 31, 2018
	(thousands)		(thousands)
Deferred tax assets/(liabilities):
Acquired intangibles	$	2,504	$	2,682
Accrued bonus		153		—
Unrealized foreign exchange loss		(261)		(163)
Accrued royalty		415		415
Stock based compensation		2,594		981
Net operating loss carryforwards		51,649		25,285
Tax credit carryforwards		8,412		2,789
ROU asset		(625)		—
Lease liability		711		—
Other		(63)		78
Total deferred tax assets/(liabilities)		65,489		32,067
Valuation allowance		(65,489)		(32,067)
Net deferred tax assets/(liabilities)		—		—