Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Effective Income Tax Rate Differs From Statutory Federal Income Tax Rate

Our effective income tax rate differs from the statutory federal income tax rate as follows for the years ended December 31, 2022, 2021 and 2020:

	Year ended December 31,
	2022		2021		2020
Federal tax at statutory rate	21.0	%	21.0	%	21.0	%
State and local tax at statutory rate	2.4		3.0		3.0
Research and development tax credits	—		—		0.1
Change in valuation allowance	(19.2)		(22.7)		(21.5)
Other permanent differences	(1.0)		(1.0)		(0.4)
Stock Option Cancellations	(2.5)		—		—
Stock Option Shortfalls	(1.6)		—		—
Effect of rate changes	0.6		0.3		0.8
Provision to Return Adjustment	0.3		0.3		(1.5)
Prior Period Adjustment to State NOL DTA	—		—		(1.5)
Other	—		(0.9)		—
Effective tax rate	—	%	—	%	—	%

Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	December 31,
	2022		2021
	(in thousands)
Deferred tax assets:
Accrued expenses	$	2,924	$	3,306
Deferred revenue	1,250		9,725
Sale of Royalty	13,291		12,037
Stock based compensation	8,317		9,194
Research and development credits	4,827		5,034
Capitalized research and development costs	13,825		—
Other non-current liabilities	2,754		20,424
Net operating loss carryforward	288,147		286,908
ASC 842 lease liability	8,032		9,096
Inventory reserve	17,411		10,281
Refund liability	9,478		—
Other	13,159		10,483
Total deferred tax assets	383,415		376,488
Less valuation allowance	(359,926)		(342,122)
Total deferred tax assets, net of valuation allowance	23,489		34,366
Deferred tax liabilities:
Fixed assets	—		—
Intangible assets	(15,981)		(25,598)
Inventory	—		—
ASC 842 ROU asset	(7,426)		(8,486)
Other	(82)		(282)
Total deferred tax liabilities	(23,489)		(34,366)
Net deferred tax liability	$	—	$	—