Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes

Schedule of reconciliation of U.S. statutory income tax rate to effective tax rate

	Year Ended December 31,
	2018		2017
Federal income tax (benefit) at statutory rate	21.00	%	34.00	%
Permanent differences	(0.68)		(1.16)
Federal research and development credits and adjustments	4.25		2.36
State income tax, net of federal benefit	6.84		5.80
Tax reform deferred rate change	—		(72.21)
Other	(1.41)		(0.36)
Change in valuation allowance	(30.00)		31.57
Effective income tax rate	—	%	—	%

Schedule of components of deferred tax assets

The Company's deferred tax assets consisted of the following (in thousands):

	Year Ended December 31,
	2018		2017
Deferred tax assets
Net operating loss carryforwards	$	48,107	$	41,436
Tax credit carryforwards		7,174		5,896
Capitalized research and development		1,394		1,879
Capitalized legal expenses		1,132		1,156
Other differences		1,370		1,048
Total deferred tax assets		59,177		51,415
Valuation allowance		(59,177)		(51,415)
Net deferred tax assets	$	—	$	—