Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The Company’s tax expense differs from the “expected” tax expense for the years ended December 31, 2017 and 2016 (computed by applying the Federal corporate tax rate of 34% to loss before taxes and 3.96% for blended state income tax rate, the blended rate used was 37.96%), as follows (in thousands):

	2017		2016
Computed “expected” tax-benefit – Federal	$	(5,267)	$	(9,453)
Computed “expected” tax-benefit – State		(613)		(1,101)
Adjustment of “expected” tax-benefit to actual		(2)		(431)
Meals, entertainment and other		10		10
Non-deductible stock-based compensation		502		574
Fair Market Value Adjustment – Warrants		(4,076)		(4,332)
Impact of U.S. tax reform		21,555		-
Change in valuation allowance		(12,109)		14,733
	$	—	$	—

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The effects of temporary differences that gave rise to significant portions of deferred tax assets at December 31, 2017 and 2016 are as follows (in thousands ):

	2017		2016
Deferred tax assets:
Stock issued for services	$	1,730	$	1,861
Accrued compensation		164		119
Stock issued for acquisition of program		1,202		1,576
Stock issued for license agreement		1,947		3,147
Stock issued for milestone payment		301		478
Amortizable license fee		6		9
Net operating loss carry-forward		40,248		50,517
Total gross deferred tax assets		45,598		57,707
Less: valuation allowance		(45,598)		(57,707)
Total net deferred tax assets	$	—	$	—