Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Amount of Net Loss Before Taxes

The amount of net loss before taxes for the years ended December 31, 2019, 2018, and 2017 is as follows:

	December 31,
	2019		2018		2017
	(in thousands)
U.S. loss before taxes	$	138,342	$	116,920	$	6,771
Foreign loss before taxes		41,965		30,049		—
Loss before income taxes		180,307		146,969		6,771

Schedule of Reconciliation of Income Tax Expense

A reconciliation of income tax expense for the years ended December 31, 2019, 2018, and 2017 is as follows:

	December 31,
	2019		2018		2017
	(in thousands)
Current:
Federal	$	—	$	—	$	—
State		—		—		—
Foreign		—		—		—
Total current income tax expense		—		—		—
Deferred:
Federal	$	—	$	—	$	—
State		—		—		—
Foreign		—		—		—
Total deferred income tax expense		—		—		—
Total income tax expense	$	—	$	—	$	—

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities at December 31, 2019, 2018 and 2017 are shown below.

	December 31,
	2019			2018			2017
	(in thousands)
Deferred tax assets:
Net operating losses	$	43,626		$	14,442		$	306
Tax credits, net		9,196			1,131			—
Amortization		6,597			6,267			1,588
Lease liability		2,329			—			—
Accrued compensation		1,476			834			—
Stock-based compensation		1,388			—			1
Other		383			154			—
Total gross deferred tax assets		64,995			22,828			1,895
Deferred tax liabilities:
Right of use asset		(2,164	)		—			—
Property, plant and equipment		(57	)		(16	)		—
Stock-based compensation		—			(1,057	)		—
Total gross deferred tax liabilities		(2,221	)		(1,073	)		—
Valuation allowance		(62,774	)		(21,755	)		(1,895	)
Net deferred tax asset	$	—		$	—		$	—

Reconciliation of the Federal Statutory Income Tax Rate to Effective Income Tax Rate

A reconciliation of the federal statutory income tax rate to the Company’s effective income tax rate is as follows:

	December 31,
	2019	2018	2017
Federal statutory income tax rate	21.00%	21.00%	34.00%
State income taxes, net of federal benefit	—%	—%	5.73%
Change in valuation allowance	(22.12%)	(13.17%)	(27.97%)
Change in tax law	—%	—%	(11.85%)
Research and experimentation credits	3.81%	0.77%	—%
Foreign rate differential	(1.84%)	(1.74%)	—%
Stock-based compensation	—%	(2.60%)	—%
In process research and development	—%	(3.92%)	—%
Other	(0.85%)	(0.34%)	0.09%
Provision for income taxes	—%	—%	—%

Schedule of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits, Excluding Interest and Penalties

A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2019, 2018, and 2017, excluding interest and penalties, is as follows:

	December 31,
	2019		2018		2017
	(in thousands)
Balance at beginning of the year	$	408	$	—	$	—
Increase related to current year positions		2,346		408		—
Balance at the end of the year	$	2,754	$	408	$	—