Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of components of income tax benefit (provision)

	Year Ended December 31,
	2019		2018		2017
	(In thousands)
Income Tax Benefit (Provision):
Federal	$	13,869	$	22,255	$	57,547
State		2,170		6,406		(2,479)
Foreign		—		913		2,448
Expiration of NOLs and R&D Credit		(18,966)		—		—
Income Tax Rate Change		—		—		(99,528)
		(2,927)		29,574		(42,012)
Deferred Tax Valuation Allowance		2,927		(28,809)		66,294
	$	—	$	765	$	24,282

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

	2019		2018		2017
	(In thousands)
Pre-Tax Loss	$	(50,878)	$	(151,949)	$	(117,313)
Loss at Statutory Rates		(10,684)		(31,909)		(39,887)
Difference in Foreign Tax Rates		—		—		326
Research and Development Credits		(1,902)		(2,056)		(2,847)
State Taxes		(2,170)		(6,406)		(6,283)
Income Tax Rate Change		—		—		99,528
Other		(1,011)		(1,175)		(321)
Change in Fair Value Remeasurement of Contingent Consideration		(272)		(6,220)		—
Intangible Impairment		—		19,105		—
Recognition of APIC NOLs		—		—		(5,729)
Impact of Pass-through Entities		—		(913)		(2,775)
Expiration of NOLs and R&D Credit		18,966		—		—
Change in Valuation Allowance		(2,927)		28,809		(66,294)
Income Tax (Benefit) Provision	$	—	$	(765)	$	(24,282)

Schedule of principal components of the deferred tax assets and liabilities

	December 31,		December 31,
	2019		2018
	(In thousands)
Gross Deferred Tax Assets
Net Operating Loss Carryforwards	$	172,745	$	168,239
Foreign Net Operating Loss Carryforwards		—		4,485
Tax Credit Carryforwards		42,642		39,761
Deferred Research and Development Expenses		70,042		76,555
Stock-based Compensation		12,651		11,977
Fixed Assets		1,759		1,761
Accrued Expenses and Other		328		316
		300,167		303,094
Gross Deferred Tax Liabilities
IPR&D Intangibles		(12,748)		(12,748)
Total Deferred Tax Assets and Liabilities		287,419		290,346
Valuation Allowance		(290,426)		(293,353)
Net Deferred Tax Liability	$	(3,007)	$	(3,007)