XML 99 R31.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Deferred Income Taxes

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company and its subsidiary deferred tax assets are as follows:

 

 

 

December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

In respect of:

 

 

 

 

 

 

 

 

 

 

 

 

Net operating loss carryforward

 

$

33,817

 

 

$

16,943

 

 

$

5,844

 

Deferred rent

 

 

 

 

 

61

 

 

 

46

 

Research and development expenses

 

 

4,591

 

 

 

3,891

 

 

 

2,887

 

Stock-based compensation

 

 

6,543

 

 

 

4,769

 

 

 

897

 

Issuance costs

 

 

2,063

 

 

 

1,367

 

 

 

1,261

 

In-process research and development

 

 

2,749

 

 

 

629

 

 

 

761

 

Right of use asset

 

 

(800

)

 

 

 

 

 

 

Lease Liability

 

 

896

 

 

 

 

 

 

 

Accrued expenses

 

 

762

 

 

 

598

 

 

 

5

 

Depreciation of fixed assets

 

 

(90

)

 

 

(93

)

 

 

 

Other

 

 

62

 

 

 

84

 

 

 

24

 

Less—valuation allowance

 

 

(50,593

)

 

 

(28,249

)

 

 

(11,725

)

Net deferred tax assets

 

$

 

 

$

 

 

$

 

Schedule of Change in Valuation Allowance

The change in valuation allowance for the years ended December 31, 2019, 2018 and 2017 were as follows:

 

 

 

2019

 

 

2018

 

 

2017

 

Balance at the beginning of the year

 

$

(28,249

)

 

$

(11,725

)

 

$

(4,158

)

Changes during the year

 

 

(22,344

)

 

 

(16,524

)

 

 

(7,567

)

Balance at the end of the year

 

$

(50,593

)

 

$

(28,249

)

 

$

(11,725

)