INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

INCOME TAXES

Schedule of components of income tax expense attributable to continuing operations

	Year Ended December 31,
	2016			2015			2014
	(In thousands)
Income tax benefit (provision):
Federal	$	45,518		$	46,598		$	43,536
State		7,268			10,642			7,328
Foreign		1,124			—			—
Expiration of Net Operating Losses and Research & Development Tax Credits		—			(155	)		(2,302	)
		53,910			57,085			48,562
Deferred tax valuation allowance		(53,910	)		(57,085	)		(48,562	)
	$	—		$	—		$	—

Schedule of reconciliation between the amount of reported income tax and the amount computed using the U.S. Statutory rate

	2016			2015			2014
	(In thousands)
Pre-tax loss	$	(128,530	)	$	(127,197	)	$	(118,080	)
Loss at Statutory Rates		(43,700	)		(43,247	)		(40,147	)
Difference in Foreign Tax Rates		150			—			—
Research and Development Credits		(5,203	)		(4,935	)		(4,126	)
State Taxes		(7,268	)		(10,642	)		(7,328	)
Other		2,111			1,584			737
Expiration of Net Operating Losses and Research & Development Tax Credits		—			155			2,302
Change in Valuation Allowance		53,910			57,085			48,562
Income tax (benefit) provision	$	—		$	—		$	—

Schedule of principal components of the deferred tax assets and liabilities

	December 31, 2016			December 31, 2015
	(In thousands)
Gross Deferred Tax Assets
Net Operating Loss Carryforwards	$	174,555		$	180,777
Foreign Net Operating Loss Carryforwards		1,124			—
Tax Credit Carryforwards		32,306			35,895
Deferred Research and Development Expenses		109,520			48,608
Stock-based Compensation		12,362			8,393
Fixed Assets		1,526			2,017
Deferred Revenue		1,418			1,703
Accrued Expenses and Other		894			219
		333,705			277,612
Gross Deferred Tax Liabilities
Other Acquired Intangibles		(2,868	)		(3,382	)
IPR&D Intangibles		(28,054	)		(4,661	)
		(30,922	)		(8,043	)
Total Deferred Tax Assets and Liabilities		302,783			269,569
Deferred Tax Assets Valuation Allowance		(330,837	)		(274,230	)
Net Deferred Tax Asset (Liability)	$	(28,054	)	$	(4,661	)