Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Loss from Continuing Operations Before Provision for Income Tax

Loss from continuing operations before provision for income tax for the Company’s domestic and international operations was as follows (in thousands):

	December 31,
	2018			2017			2016
US	$	(84,207	)	$	(113,679	)	$	129,361
Foreign		(2,528	)		(3,603	)		(3,697	)
Loss before provision for income taxes	$	(86,735	)	$	(117,282	)	$	125,664

Provision for Income Taxes

The provision for income taxes consists of the following (in thousands):

	Year Ended December 31,
	2018			2017			2016
Current
U.S. federal	$	—		$	—		$	—
U.S. state		—			—			—
Non-U.S.		240			51			—
Total current		240			51			—
Deferred
U.S. federal		(9,164	)		244,801			(43,814	)
U.S. state		(1,903	)		15,398			(4,311	)
Non-U.S.		—			—			—
Total deferred		(11,067	)		260,199			(48,125	)
Valuation allowance		11,067			(260,199	)		48,125
Total	$	240		$	51		$	—

Components of Net Deferred Tax Assets

Components of the net deferred tax assets as of December 31, 2018 and 2017, are as follows (in thousands):

	December 31,
	2018			2017
Deferred tax assets:
Net operating loss carryforwards	$	524,377		$	507,235
Research and development credits		81,583			83,461
Capitalized research		557			1,016
Milestone Rights		3,521			1,908
Accrued expenses		1,156			211
Loss on purchase commitment		23,194			23,654
Non-qualified stock option expense		2,551			7,004
Capitalized patent costs		5,090			5,194
Other		669			795
Depreciation		22,560			23,820
Deferred Product Revenue & Costs		107
Total net deferred tax assets		665,365			654,298
Valuation allowance		(665,365	)		(654,298	)
Net deferred tax assets	$	—		$	—

Effective Income Tax Rate

The Company’s effective income tax rate differs from the statutory federal income tax rate as follows for the years ended December 31, 2018, 2017 and 2016:

	December 31,
	2018			2017			2016
Federal tax benefit rate		21.0	%		35.0	%		35.0	%
Permanent items		1.0			6.2			(1.9	)
Intercompany transfer of intellectual property		—			—			0.9
Tax law changes		(0.7	)		(265	)		—
Stock based compensation		(6.5	)		(5.0	)		—
Tax attribute expirations		(1.6	)		(2.8	)		—
Foreign withholding tax		(0.3	)		—			—
Valuation allowance		(13.2	)		231.6			(34.0	)
Effective income tax rate		-0.3	%		—	%		—	%