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INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2019
INCOME TAXES  
Schedule of reconciliation of income tax expense (benefit) at statutory federal income tax rate to income taxes

 

As of December 31, 

    

2019

    

2018

 

2017

 

Federal income tax expense at statutory rate

 

21.00

%  

21.00

%  

34.00

%

(Increase) decrease income tax (benefit) resulting from:

State income tax, net of federal benefit

5.59

5.89

3.93

Permanent differences

(3.24)

(2.51)

(2.49)

U.S. - TCJA

(43.32)

Research and development credit

 

1.83

0.52

0.53

Change in valuation allowance

 

(25.18)

(24.90)

7.35

Effective income tax rate

 

0.00

%  

0.00

%  

0.00

%

Schedule of significant components of deferred tax assets and liabilities

As of December 31, 

2019

 

2018

Deferred tax assets:

    

    

    

    

U.S. and state net operating loss carryforwards

$

66,553

$

82,501

Research and development credits

 

3,768

 

4,364

Operating lease liabilities

2,630

Operating lease assets

(2,357)

Accruals and other (1)

14,286

4,676

Depreciation and amortization

 

92

 

269

Total deferred tax assets

 

84,972

 

91,810

Valuation allowance

 

(77,285)

 

(80,290)

Deferred tax assets after valuation allowance

 

7,687

 

11,520

Deferred tax liabilities – intangible assets

(7,687)

(11,520)

Net deferred tax assets

$

$

(1)

Balance includes $5,796 and $3,137 of accruals related to stock-based compensation expense as of December 31, 2019 and 2018, respectively. Balance also includes $7,204 and $0 of accrued rebates, returns, and discounts as of December 31, 2019 and 2018, respectively.

Schedule of reconciliation of gross unrecognized tax benefits

As of December 31, 

2019

 

2018

2017

Gross UTB Balance at January 1

    

$

502

    

$

1,364

$

Additions based on tax positions related to the current year

76

64

57

Additions for tax positions of prior years

 

 

 

1,307

Reductions for tax positions of prior years

(24)

Settlements

 

 

(902)

 

Reductions due to lapse of applicable statute of limitations

 

 

 

Gross UTB Balance at December 31

$

578

$

502

$

1,364

 

 

 

Net UTB impacting the effective tax rate at December 31 (included in the change in the valuation allowance in rate reconciliation)

$

549

$

481

$

680