INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

INCOME. TAXES.

Schedule of Deferred Tax Assets and Liabilities

(in thousands)	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	295,985	$	223,685
Research and development credit		35,665		27,558
Noncash compensation		32,356		22,381
Disallowed interest		2,434		1,855
Other		1,006		1,224
Deferred tax asset, excluding valuation allowance		367,446		276,703
Less valuation allowance		(367,446)		(276,703)
Net deferred tax assets	$	—	$	—

Schedule of Effective Income Tax Rate Reconciliation

(in thousands)	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	295,985	$	223,685
Research and development credit		35,665		27,558
Noncash compensation		32,356		22,381
Disallowed interest		2,434		1,855
Other		1,006		1,224
Deferred tax asset, excluding valuation allowance		367,446		276,703
Less valuation allowance		(367,446)		(276,703)
Net deferred tax assets	$	—	$	—