INCOME TAXES

9 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The following table sets forth the components of the Company's loss before income taxes by country (in thousands):

	Nine Months Ended September 30,
	2021		2020
Country:
United States	$	(38,864)	$	(18,838)
Canada	21,311		12,582
Total Loss before Income Taxes	$	(17,553)	$	(6,256)

The Company's tax benefit (provision) is comprised of the following components (in thousands):

	Nine Months Ended September 30,
	2021		2020
Current Tax Benefit (Provision):
Federal	$	8,559	$	—
State	—		—
Foreign	$	(286)	(1,132)
Total Current Benefit (Provision)	$	8,273	$	(1,132)

The Company's deferred tax liability is comprised of the following:

	September 30, 2021		December 31, 2020
Deferred tax liabilities:
IPR&D	$	(3,969)	$	(12,528)
Property and equipment	—		—
Total Deferred Tax Liabilities	$	(3,969)	$	(12,528)

For the nine months ended September 30, 2021, the Company recorded a benefit from income taxes of $8.3 million. In the third quarter of 2021, the Company determined that the fair value of the Vicineum United States rights was zero, which resulted in an impairment charge of $31.7 million. In connection with this impairment charge, in the third quarter of 2021, the Company wrote-down the associated deferred tax liability by $8.6 million as a benefit. Please refer to Note 6, "Intangible Assets and

Goodwill," for further information regarding the impairment charge. For the nine months ended September 30, 2020, the Company recorded a provision for income taxes of $1.1 million. This provision consisted of income taxes paid to foreign jurisdictions pursuant to the License Agreement with Qilu.