Income Taxes Deferred Tax Assets (Tables)

12 Months Ended

Dec. 31, 2012

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and the deferred tax liability at December 31, 2012 and 2011 are presented below (in thousands):



	Year Ended December 31,
	2012			2011
Deferred tax assets:
Net operating loss carryforwards	$	19,853		$	16,007
Federal research credits	2,912			2,912
Deferred rent	313			—
Accrued compensation	76			—
Gross deferred tax assets	23,154			18,919
Less valuation allowance	(23,137		)	(18,858		)
Net deferred tax assets	17			61
Deferred tax liability:
Leasehold improvements and equipment	(17		)	(61		)
Total net deferred tax assets	$	—		$	—

- Definition

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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