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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Taxes  
Schedule of components of deferred tax assets

 

 

 

 

 

 

 

 

 

    

2016

    

2015

 

 

 

(In thousands)

 

Operating loss carryforwards

 

$

56,832

 

$

46,432

 

Tax credit carryforwards

 

 

9,428

 

 

5,627

 

Other

 

 

7,710

 

 

5,698

 

 

 

 

73,970

 

 

57,757

 

Valuation allowance

 

 

(73,970)

 

 

(57,757)

 

 

 

$

 —

 

$

 —

 

 

Schedule of difference between U.S. federal corporate tax rate and Company effective tax rate

 

 

 

 

 

 

 

 

 

    

2016

 

2015

 

2014

 

Expected federal income tax rate

 

(34.0)

%

(34.0)

%

(34.0)

%

Expiring credits and NOLs

 

 —

 

 —

 

 —

 

Change in valuation allowance

 

42.2

 

39.8

 

(115.3)

 

Federal and state credits

 

(9.9)

 

(7.4)

 

(4.0)

 

State income taxes, net of federal benefit

 

(3.7)

 

(4.5)

 

(5.1)

 

Permanent differences

 

3.5

 

2.4

 

0.8

 

Section 382 limitation

 

 —

 

 —

 

157.5

 

Other

 

1.9

 

3.7

 

0.1

 

Effective tax rate

 

0.0

%

0.0

%

0.0

%