Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

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