INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule reconciles the federal statutory tax rate to the effective income tax rate from continuing operations

The following table reconciles the federal statutory tax rate to the effective income tax rate from continuing operations:

	2022			2021				2020
Tax at statutory rate	21.0		%		21.0		%		21.0		%
State income tax, net of federal benefit	6.8				9.0				6.9
Federal and state tax credits	4.9				5.7				5.3
Stock-based compensation	(0.8	)			(1.2	)			(0.5	)
Net operating loss not benefitted	(4.3	)			(5.4	)			(6.9	)
Other	(0.1	)			(0.2	)			(0.3	)
Change in valuation allowance	(27.5	)			(28.9	)			(25.5	)
Effective tax rate	0.0		%		0.0		%		0.0		%

Schedule of significant components of the entity's deferred tax assets

Significant components of our deferred tax assets are as follows:

	December 31,
	2022			2021
	(In thousands)
Net operating loss carryforwards	$	254,500		$	241,300
Federal and state tax credits		56,700			49,600
Capitalized research and development		21,800			6,900
Stock-based compensation		10,800			10,200
Operating lease liabilities		1,300			1,400
Other		5,600			2,600
Total deferred tax assets		350,700			312,000
Less: valuation allowance		(349,600	)		(310,700	)
Net deferred tax assets		1,100			1,300
Operating leases, right-of-use assets		(1,100	)		(1,300	)
Total deferred tax liabilities		(1,100	)		(1,300	)
Total net deferred tax assets	$	—		$	—

Schedule of reconciliation of the beginning and ending amounts of unrecognized tax benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands):

Balance as of December 31, 2021	$	21,300
Decrease related to prior year tax positions		—
Increase related to current year tax positions		2,400
Balance as of December 31, 2022	$	23,700