Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Components of Income Tax Expense Benefit

The components of the income tax expense (benefit) related to operations, were as follows:



	Year ended December 31,		Year ended December 31,		Year ended December 31,
($ in thousands)	2015		2014		2013
U.S. Federal:
Current	$	—	$	—	$	—
Deferred	—		—		—
U.S. State:
Current	—		—		—
Deferred	—		—		—
Income tax expense (benefit)	$	—	$	—	$	—

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between income tax expense (benefit) at the U.S. federal statutory rate and the amount recorded in the accompanying Consolidated Financial Statements were as follows:



	Year ended December 31,			Year ended December 31,			Year ended December 31,
($ in thousands)	2015			2014			2013
Tax benefit at U.S. federal statutory rate	$	(12,183	)	$	(8,977	)	$	(11,044	)
Increase in domestic valuation allowance	14,236			11,109			11,626
State income taxes/(benefit) before valuation allowance, net of federal benefit	(1,122		)	(846		)	(1,026		)
Warrant revaluation and other finance (income)/expense	(1,026		)	(1,375		)	369
Other	95			89			75
Income tax expense (benefit)	$	—		$	—		$	—

Schedule of Deferred Tax Assets and Liabilities

The components of the Company’s net deferred tax assets and liabilities at December 31, 2015, 2014 and 2013 were as follows:



($ in thousands)	December 31, 2015			December 31, 2014			December 31, 2013
Deferred tax liabilities:
Intangible assets	$	1,764		$	2,001		$	2,247
Total deferred tax liabilities	$	1,764		$	2,001		$	2,247
Deferred tax assets:
Loss carryforwards	$	77,194		$	63,560		$	54,253
Capital loss carryforward	840			841			844
Property and equipment	1,096			1,135			1,149
License fees	8,351			7,055			5,393
Accrued expenses and other	886			602			412
Stock compensation	3,445			2,953			2,698
Total deferred tax assets before valuation allowance	91,812			76,146			64,749
Less: valuation allowance	(90,048		)	(74,145		)	(62,502		)
Total deferred tax assets	$	1,764		$	2,001		$	2,247
Net deferred tax assets	$	—		$	—		$	—