Income Taxes - (Tables)

12 Months Ended

Dec. 31, 2018

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,
($ in thousands)	2018		2017
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,
($ in thousands)	2018			2017
Tax benefit at U.S. federal statutory rate	$	(2,158	)	$	(5,684	)
Increase in domestic valuation allowance	4,815			5,914
State income taxes benefit before valuation allowance, net of federal benefit	(897		)	6
State rate change	(2,514		)	555
State law change	1,418			—
Warrant revaluation income and other financing costs	(366		)	(898		)
Credits	(478		)	(904		)
Stock-based compensation	49			61
Return to provision true-ups	75			127
Capital loss carryforward expiration	—			817
Impact of federal rate change	—			34,463
Impact of federal rate change on valuation allowance	—			(34,463		)
Other	56			6
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, 2018 and 2017 were as follows:



	Year ended December 31,
($ in thousands)	2018			2017
Deferred tax liabilities:
Convertible notes	$	2,842		$	2,821
Total deferred tax liabilities	$	2,842		$	2,821
Deferred tax assets:
Loss carryforwards (federal and state)	$	64,285		$	60,428
Intangible assets	57			68
Property and equipment	839			606
License fees	4,645			4,419
Accrued expenses and other	354			401
Stock-based compensation	2,838			2,753
Research and development tax credits	1,945			1,436
Total deferred tax assets before valuation allowance	74,963			70,111
Less: valuation allowance	(72,121		)	(67,290		)
Total deferred tax assets	$	2,842		$	2,821
Net deferred tax assets	$	—		$	—