Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.1.9
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2014
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes and operating loss and credit carryforwards. Significant components of our deferred tax assets are as follows (in thousands):
 
 
 
December 31,
 
 
 
2014
 
2013
 
Deferred tax assets:
 
 
 
 
 
 
 
Net operating loss carryforwards
 
$
88,086
 
$
85,912
 
Research credit carryforwards
 
 
13,645
 
 
13,481
 
Other, net
 
 
3,529
 
 
3,962
 
Deferred revenue
 
 
666
 
 
2,116
 
Total deferred tax assets
 
 
105,926
 
 
105,471
 
Valuation allowance
 
 
(105,926)
 
 
(105,471)
 
Net deferred tax assets
 
$
 
$
 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
The provision for income taxes consists of state minimum taxes due. The effective tax rate of our provision (benefit) for income taxes differs from the federal statutory rate as follows (in thousands):
 
 
 
Year Ending December 31,
 
 
 
2014
 
2013
 
2012
 
Computed at 34%
 
$
(839)
 
$
3,301
 
$
(5,134)
 
State taxes
 
 
592
 
 
213
 
 
(234)
 
Book gains (losses) not currently benefited
 
 
454
 
 
1,656
 
 
3,120
 
Other
 
 
235
 
 
(476)
 
 
1,901
 
Disallowed interest expense
 
 
 
 
160
 
 
1,363
 
Income from debt restructuring
 
 
 
 
 
 
(1,615)
 
Revaluation of warrant liability
 
 
(346)
 
 
(591)
 
 
600
 
Research and development credits
 
 
(97)
 
 
(583)
 
 
 
Non-cash gain from termination of royalty purchase agreement
 
 
 
 
(3,047)
 
 
 
Non-cash gain on settlement of long-term debt
 
 
 
 
(632)
 
 
 
Total
 
$
(1)
 
$
1
 
$
1