Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes

Schedule of components of income tax benefit (provision)

	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Income tax benefit (provision):
Federal	$	17,484	$	18,513	$	16,615
State		9,606		7,082		5,802
Expiration of NOLs and R&D credit		(16,862)		(14,210)		(20,294)
		10,228		11,385		2,123
Deferred tax valuation allowance		(10,228)		(11,158)		(956)
	$	—	$	227	$	1,167

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

	2022		2021		2020
	(In thousands)
Pre-tax loss	$	(112,325)	$	(70,738)	$	(60,947)
Loss at statutory rates		(23,588)		(14,855)		(12,799)
Research and development credits		(3,876)		(2,422)		(1,778)
State taxes		(9,606)		(7,082)		(5,802)
Other		11,421		(941)		(1,152)
Change in fair value remeasurement of contingent consideration		(1,441)		(295)		(886)
Expiration of NOLs and R&D credit		16,862		14,210		20,294
Change in valuation allowance		10,228		11,158		956
Income tax (benefit) provision	$	—	$	(227)	$	(1,167)

Schedule of principal components of the deferred tax assets and liabilities

	December 31,		December 31,
	2022		2021
	(In thousands)
Gross deferred tax assets
Net operating loss carryforwards	$	188,255	$	183,711
Tax credit carryforwards		50,688		47,927
Deferred research and development expenses		67,494		59,753
Stock-based compensation		9,993		14,719
Fixed assets		1,193		1,287
Accrued expenses and other		373		370
		317,996		307,767
Gross deferred tax liabilities
IPR&D intangibles		(6,840)		(6,840)
Total deferred tax assets and liabilities		311,156		300,927
Valuation allowance		(312,769)		(302,540)
Net deferred tax liability	$	(1,613)	$	(1,613)