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128 - Disclosure - Income Taxes (Tables)
(http://www.ignyta.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlockTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001557421 (http://www.sec.gov/CIK)
Income Tax Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Income Tax Disclosure [Abstract]
 
Schedule of Reconciliation of Statutory Federal Income Tax Provision to Actual Income Tax Provision

A reconciliation of the statutory federal income tax provision to the actual income tax provision is as follows (in thousands):

 

     Year ended December 31,  
     2016      2015      2014  

Expected income tax benefit at federal statutory rate

    $ (35,237 )     $ (31,436 )     $ (13,597 ) 

State income tax benefit, net of federal benefit

      (2,837 )       (5,438 )       (2,245 ) 

Research credits

      (3,480 )       (1,854 )       (1,118 ) 

Intangible related to asset acquisition

      —          (1,247 )       —    

Uncertain tax positions

      3,476        1,386        —    

Other

      812        13        162  

Change in valuation allowance

      37,266        38,576        16,798  
  

 

 

     

 

 

     

 

 

  

Income tax expense (benefit)

    $ —        $ —        $ —    
  

 

 

     

 

 

     

 

 

  
  
Summary of Unrecognized Tax Benefits

The following table summarizes the changes in the amount of the Company’s unrecognized tax benefits (in thousands):

 

     Year ended December 31,  
     2016      2015      2014  

Beginning balance

    $ 2,100      $ —        $ —    

Increase (decrease) for prior year tax positions

      5,267        2,100        —    

Increase (decrease) for current year tax positions

      —          —          —    
  

 

 

     

 

 

     

 

 

  

Income tax expense (benefit)

    $ 7,367      $ 2,100      $ —    
  

 

 

     

 

 

     

 

 

  
  
Summary of Significant Components of Company's Deferred Tax Assets

The significant components of the Company’s deferred tax assets are comprised of the following (in thousands):

     December 31,  
     2016      2015  

Net operating loss carryforwards

    $ 68,427      $ 35,131  

Tax credit carryforwards

      6,571        3,224  

Stock-based compensation

      5,104        2,848  

Accrued compensation

      1,295        1,485  

Intangible assets recognized for tax purposes

      11,856        13,143  

In process research and development charge

      5,376        5,865  

Other, net

      680        846  
  

 

 

     

 

 

  

Total deferred tax assets

      99,309        62,542  

Deferred tax liabilities (depreciation)

      (610 )       (1,060 ) 

Valuation allowance

      (98,699 )       (61,482 ) 
  

 

 

     

 

 

  

Net deferred tax assets

    $ —        $ —