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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of Differences between the Expected Income Tax Provision and Income Taxes Computed at the Federal Statutory Rate

The provision for income taxes differs from the amount expected by applying the federal statutory rate to the loss before taxes as follows:

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

Federal statutory income tax rate

 

 

34.00

%

 

 

34.00

%

State taxes (tax effected)

 

 

7.87

%

 

 

7.19

%

Non-deductible expenses and other

 

 

(10.19

)%

 

 

%

Research and development credits

 

 

14.07

%

 

 

2.98

%

Change in valuation allowance

 

 

(45.75

)%

 

 

(44.17

)%

Total

 

 

 

 

 

 

 

Components of Company's Deferred Tax Assets

As of December 31, 2016, and 2015, the components of the Company’s deferred tax assets are as follows (in thousands):

 

 

 

As of December 31,

 

 

 

2016

 

 

2015

 

Deferred tax assets:

 

 

 

 

 

 

 

 

Net operating loss carryforwards

 

$

23,937

 

 

$

14,830

 

Deferred Revenue

 

 

 

 

 

5,656

 

Start-up costs

 

 

2,093

 

 

 

2,260

 

Research and development credits carryforwards

 

 

4,450

 

 

 

2,157

 

Depreciation

 

 

(527

)

 

 

(565

)

Other

 

 

865

 

 

 

437

 

Total deferred tax assets

 

 

30,818

 

 

 

24,775

 

Less valuation allowance

 

 

(30,818

)

 

 

(24,775

)

Net deferred tax assets

 

$

 

 

$

 

 

Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

 

 

 

For the Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Beginning balance

 

$

719

 

 

$

465

 

 

$

56

 

Increases of unrecognized tax benefits related to current year

 

 

755

 

 

 

254

 

 

 

409

 

Ending balance

 

$

1,474

 

 

$

719

 

 

$

465