General form of registration statement for all companies including face-amount certificate companies

Income Taxes (Tables)

v3.21.2
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation
The reconciliation of the provision computed at the federal statutory rate to the Company’s provision (benefit) for income taxes was as follows:
Year ended December 31,
2020 2019
(In thousands, except percentages)
Tax at federal statutory rate $ (4,579) (21.0) % $ (5,392) (21.0) %
State, net of federal benefit (922) (4.2) % (2,119) (8.3) %
Stock-based compensation 234  1.1  % 226  0.9  %
Other (527) (2.5) % (569) (2.2) %
Change in valuation allowance 5,794  26.6  % 7,854  30.6  %
Total provision for income taxes $ —  —  % $ —  —  %
Components of Deferred Tax Assets and Liabilities The components of deferred tax assets and liabilities were as follows:
December 31,
2020 2019
(in thousands)
Deferred tax assets
Net operating loss carryforwards $ 35,818  $ 30,696 
Research and development tax credits 5,286  4,382 
Stock-based compensation 594  574 
Other timing differences 644  897 
Total deferred tax assets $ 42,342  $ 36,549 
Valuation allowance (42,342) (36,549)
Net deferred tax assets $ —  $ — 
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits was as follows:
December 31,
2020 2019
(in thousands)
Balance at beginning of year $ 2,429  $ 1,928 
Additions based on tax positions related to the current year 431  501 
Balance at end of year $ 2,860  $ 2,429