XML 97 R21.htm IDEA: XBRL DOCUMENT v3.19.2
Income Taxes
6 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]  
Income Taxes
Income taxes

For the three months ended March 31, 2019 and 2018, the Company did not record a tax expense or benefit. The effective tax rate for the three months ended March 31, 2019 and 2018 was 0%. The effective tax rate for the three months ended March 31, 2019 and 2018 differs from the statutory tax rate due to expected current year and historical losses.  For the six months ended June 30, 2019 and 2018, the Company recorded a tax expense of $0.6 million and $0, respectively. The effective tax rate for the six months ended June 30, 2019 and 2018 was 7.23% and 0%, respectively. The effective tax rate for the six months ended June 30, 2019 differs from the statutory rate primarily due to Pennsylvania state taxes that result from Pennsylvania’s limitation on the use of net operating losses allowed to be utilized against Pennsylvania taxable income generated as a result of the revenue recorded from the CCP Agreement. The Company does not have a net deferred tax asset because it maintains a full valuation allowance against all deferred tax assets as management has determined that it is more likely than not, that the Company will be unable to realize these future tax benefits. As of June 30, 2019, the Company had no uncertain tax positions.