BIO-PATH HOLDINGS INC - 10-K filing on 2022-03-10

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

The components of the Company’s deferred tax asset are as follows:


	December 31,
	2021		2020

	(in thousands)
Deferred tax assets – non-current

Accrued bonuses	$	63	$	53
Accrued vacation		26		24
Net operating loss (NOL) carryover		14,975		12,876
Research & development tax credits		3,353		2,902
Share based expense		572		472
Other		4		4
Right of use lease liability		49		69
Fixed asset depreciation		43		55
Total deferred tax asset		19,085		16,455
Less: valuation allowance		(19,042)		(16,395)
Net deferred tax asset		43		60
Right of use asset		(43)		(60)
Net deferred tax asset	$	—	$	—

Reconciliation between income taxes at the statutory tax rate (21%) and the actual income tax provision for continuing operations follows:


	December 31,
	2021		2020

	(in thousands)
Loss before income taxes	$	(10,440)	$	(10,882)
Tax (benefit) at statutory tax rate		(2,193)		(2,285)
Effects of:
Exclusion of incentive stock option expense		73		50
R&D tax credits		(451)		(832)
Increase (decrease) in valuation allowance		2,648		2,990
Other		(77)		77
Provision for income taxes	$	—	$	—