Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Loss before Income Taxes

For the years ended December 31, 2021 and 2020, loss from continuing operations before taxes consists of the following:

	2021		2020
	(In thousands)
U.S. operations	$	157,274	$	121,621
Foreign operations	11		26
Loss before income taxes	$	157,285	$	121,647

Schedule of Federal and State Income Tax Provision

The federal and state income tax provision is summarized as follows for the years ended December 31, 2021 and 2020:

	2021		2020
	(In thousands)
Current
Federal	$	—	$	—
State	6		5
Foreign	—		—
Total current tax expense	6		5
Deferred
Federal	—		—
State	—		—
Foreign	—		—
Total deferred tax expense	—		—
Total tax expense	$	6	$	5

Schedule of Deferred Tax Assets and Liabilities

The tax effects of significant items comprising the Company’s deferred taxes as of December 31, 2021 and 2020 are as follows:

	2021		2020
	(In thousands)
Deferred tax assets
Accrued employee compensation	$	2,736	$	2,186
NOLs and capital loss carryforwards	108,205		87,623
Credit carryforwards	110,513		114,986
Equity compensation	4,095		3,961
R&D capitalized costs	50,224		44,051
Start-up costs	40,408		43,836
Other	17,232		137
Total deferred tax assets	$	333,413	$	296,780
Deferred tax liabilities
Fixed asset basis	$	(668)	$	(1,876)
Other	(8,240)		(236)
Total deferred tax liabilities	$	(8,908)	$	(2,112)
Valuation allowance	$	(324,505)	$	(294,668)
Net deferred taxes	$—		$—

Summary of Tax Credit Carryforwards

Net operating losses and tax credit carryforwards as of December 31, 2021 are as follows:

	Amount		Expiration Years
	(In thousands)
Net operating losses, federal – Expiring	$	106,495	2036-2037
Net operating losses, federal – Indefinite	$	244,011	Indefinite
Net operating losses, state – Expiring	$	495,388	2028-2041
Net operating losses, state – Indefinite	$	126	Indefinite
Net operating losses, foreign	$	11	Indefinite
Tax credits, federal	$	65,076	2025 – 2041
Tax credits, state	$	57,516	Indefinite

Summary of Net Operating Losses

Net operating losses and tax credit carryforwards as of December 31, 2021 are as follows:

	Amount		Expiration Years
	(In thousands)
Net operating losses, federal – Expiring	$	106,495	2036-2037
Net operating losses, federal – Indefinite	$	244,011	Indefinite
Net operating losses, state – Expiring	$	495,388	2028-2041
Net operating losses, state – Indefinite	$	126	Indefinite
Net operating losses, foreign	$	11	Indefinite
Tax credits, federal	$	65,076	2025 – 2041
Tax credits, state	$	57,516	Indefinite

Schedule of Effective Income Tax Rate Reconciliation

The effective tax rate of the Company’s provision (benefit) for income taxes differs from the federal statutory rate as follows:

	2021		2020
	(In thousands)
Statutory rate	$	(33,030)	$	(25,518)
State taxes, net of federal benefit	(4,995)		(6,637)
Permanent adjustments	(560)		411
Return to provision	10		—
Other deferred adjustment	5,147		(4)
General business credits	3,599		(8,803)
Change in valuation allowance	29,835		40,556
Income tax expense	$	6	$	5

Schedule of UncertainTax Benefits

	2021		2020
	(In thousands)
Balance at the beginning of the year	$	31,886	$	29,448
Increases:
For current year’s tax positions	630		2,438
For prior years’ tax position	20,581		—
Decreases:
For reductions of prior year’s tax positions	(3,470)		—
Gross balance at the end of the year	$	49,627	$	31,886