Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of our provision from income taxes is as follows:

	Year Ended December 31,
	2019			2018			2017
Current:
Federal	$	6,689		$	4,137		$	1,304
State	844			466			2,409
	$	7,533		$	4,603		$	3,713
Deferred:
Federal	392			(2,565		)	18,045
State	(240		)	97			(756		)
	$	152		$	(2,468	)	$	17,289
Provision for income taxes	$	7,685		$	2,135		$	21,002

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the statutory U.S. Federal income tax rate to the Company's effective income tax rate is as follows;

	Year Ended December 31,
	2019		2018		2017
Federal statutory tax rate	21	%	21	%	35	%
State income taxes, net of federal benefit	2	%	1	%	3	%
Tax benefit on stock option exercises, net of forfeitures	1	%	(11	)%	(4	)%
R&D tax credits and Orphan Drug credits	(2	)%	(7	)%	(10	)%
Limitation on executive compensation	10	%	3	%	N/A
Revaluation of net deferred tax assets due to U.S. tax reform	—	%	—	%	5	%
Change in valuation allowance	4	%	—	%	—	%
Other	(1	)%	(1	)%	—	%
Effective tax rate	35	%	6	%	29	%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company's deferred tax assets were as follows:

	December 31,
	2019			2018
Deferred tax assets
Net operating loss carryforward	$	243		$	—
Stock based compensation	10,647			7,934
Research and development and other tax credit carryforwards	—			3,251
Inventories	1,539			1,767
Employee-related expenses	51			732
Prepaid R&D expenses	620			761
Intangible assets	662			—
ROU asset	925			—
Other	1,017			64
Total deferred tax assets	15,704			14,509
Deferred tax liabilities
Intangible assets	—			280
Prepaid expenses	43			34
Fixed assets	203			282
Lease liability	838			—
Other	—			91
Total deferred tax liabilities	1,084			687
Valuation allowance	(951		)	—
Net deferred tax assets	$	13,669		$	13,822