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Income Taxes
6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income Taxes

14. Income Taxes

For the three months ended June 30, 2020 and 2019, pre-tax losses were $25,250 and $23,195, respectively, and for the six months ended June 30, 2020 and 2019, pre-tax losses were $54,294 and $45,240, respectively. The Company recognized a full tax valuation allowance against its deferred tax assets as of June 30, 2020 and December 31, 2019. The tax benefit related to the exercise of stock options is recognized as a deferred tax asset that is offset by a corresponding valuation allowance.

The benefit from income taxes of $182 and $235 for the three months ended June 30, 2020 and 2019, respectively, and $304 and $320 for the six months ended June 30, 2020 and 2019, respectively, relates to state R&D tax credits exchanged for cash pursuant to the Connecticut R&D Tax Credit Exchange Program, which permits qualified small businesses engaged in R&D activities within Connecticut to exchange their unused R&D tax credits for a cash amount equal to 65% of the value of the exchanged credits.

On June 30, 2020 and December 31, 2019, the Company did not have any foreign subsidiaries and the international aspects of the Tax Cuts and Jobs Act are not applicable for the respective periods.