Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.3.1.900
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
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,
 
 
 
2015
 
2014
 
Deferred tax assets:
 
 
 
 
 
 
 
Net operating loss carryforwards
 
$
91,365
 
$
88,086
 
Research credit carryforwards
 
 
13,884
 
 
13,645
 
Other, net
 
 
3,417
 
 
3,529
 
Deferred revenue
 
 
 
 
666
 
Total deferred tax assets
 
 
108,666
 
 
105,926
 
Valuation allowance
 
 
(108,666)
 
 
(105,926)
 
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,
 
 
 
2015
 
2014
 
2013
 
Computed at 34%
 
$
(3,840)
 
$
(839)
 
$
3,301
 
State taxes
 
 
(268)
 
 
592
 
 
213
 
Book gains (losses) not currently benefited
 
 
2,740
 
 
454
 
 
1,656
 
Other
 
 
(20)
 
 
235
 
 
(476)
 
Disallowed interest expense
 
 
 
 
 
 
160
 
Revaluation of warrant liability
 
 
1,534
 
 
(346)
 
 
(591)
 
Research and development credits
 
 
(146)
 
 
(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