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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Schedule Components of Loss Before Income Taxes

The components of loss before income taxes were as follows:

 

     Year ended December 31,  
     2013     2012     2011  

U.S.

   $ (26,018   $ (23,700 )   $ (15,300

Foreign

     697        30       (298
  

 

 

   

 

 

   

 

 

 

Total

   $ (25,321   $ (23,670 )   $ (15,598
Net Deferred Tax Assets

The significant components of the Company’s deferred tax assets are comprised of the following:

 

     Year ended December 31,  
     2013     2012  

Deferred tax assets:

    

U.S. net operating loss carryforwards

   $ 11,010      $ 24,044   

Foreign net operating loss carryforwards

     659        587   

Tax credit carryforwards

     3,638        1,910   

Capitalized research and development expenses, net

     1,837        2,334   

Deferred revenue

     21,830        267   

Accruals and other

     4,177        289   
  

 

 

   

 

 

 

Total deferred tax assets

     43,151        29,431   

Fixed assets

     (2,596     —     

Less valuation allowance

     (40,555     (29,431
  

 

 

   

 

 

 

Net deferred taxes

   $ —        $ —     
Reconciliation of Income Tax Expense Computed at the Statutory Federal Income Tax Rate to Income Taxes as Reflected in the Financial Statements

A reconciliation of income tax expense computed at the statutory federal income tax rate to income taxes as reflected in the financial statements is as follows:

 

     Year ended December 31,  
     2013     2012     2011  

Federal income tax expense at statutory rate

     34.0     34.0     34.0

State income tax, net of federal benefit

     4.5     4.4     5.0

Permanent differences

     (0.6 %)      (0.8 %)      (1.3 %) 

Research and development credit

     6.0     0.8     3.4

Other

     0.0     0.6     (0.6 %) 

Change in valuation allowance

     (43.9 %)      (39.0 %)      (40.5 %) 
  

 

 

   

 

 

   

 

 

 

Effective income tax rate

     0.0     0.0     0.0