Table:
2019	2018

(in thousands)

Deferred tax assets:

Net operating loss carryforwards	$65,477	$64,887

Research and development credits	80,404	75,032

Accrued expenses and other	7,768	7,965

Lease obligation	2,047	—

Accrued compensation	1,441	2,504

Stock-based compensation	3,460	2,550

160,597	152,938

Less valuation allowance	(77,957)	(79,196)

82,640	73,742

Deferred tax liabilities:

Fixed assets	(246)	(1,391)

Leased right-of-use assets	(1,483)	—

Intangible assets	(13,627)	(20,833)

Net deferred tax assets	$67,284	51,518

Recognize the table in this picture and return a markdown-style reconstructed table in text.

|  | 2019 | 2018 |
| --- | --- | --- |
|  | (in thousands) |  |
| Deferred tax assets: |  |  |
| Net operating loss carryforwards | $65,477 | $64,887 |
| Research and development credits | 80,404 | 75,032 |
| Accrued expenses and other | 7,768 | 7,965 |
| Lease obligation | 2,047 | — |
| Accrued compensation | 1,441 | 2,504 |
| Stock-based compensation | 3,460 | 2,550 |
|  | 160,597 | 152,938 |
| Less valuation allowance | (77,957) | (79,196) |
|  | 82,640 | 73,742 |
| Deferred tax liabilities: |  |  |
| Fixed assets | (246) | (1,391) |
| Leased right-of-use assets | (1,483) | — |
| Intangible assets | (13,627) | (20,833) |
| Net deferred tax assets | $67,284 | 51,518 |