| Segment Information |
19. Segment Information
The Company operates in two reportable segments, Dermatology Product Sales and Pharmaceutical and Biotechnology Product Development. The accounting policies of the Company’s segments are the same as those described in Note 2. Prior to the sale of National the Company operated in three segments, one which included National, see Note 3. The
following tables summarize, for the periods indicated, operating results, from continued operations by reportable segment ($ in thousands):
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Dermatology
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Pharmaceutical and
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Products
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Biotechnology
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Year Ended December 31, 2019
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Sales
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Product Development
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Consolidated
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Net revenue
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$
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34,921
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$
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1,708
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$
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36,629
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Direct cost of goods
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(10,532)
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—
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(10,532)
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Sales and marketing costs
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(17,120)
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—
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(17,120)
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Research and development
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—
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(81,326)
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(81,326)
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General and administrative
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(2,556)
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(35,914)
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(38,470)
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Other income
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—
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9,159
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9,159
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Segment gain (loss) from operations
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$
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4,713
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$
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(106,373)
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$
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(101,660)
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Segment assets
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Intangible assets, net
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$
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7,377
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$
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—
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$
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7,377
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Tangible assets
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19,946
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199,099
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219,045
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Total segment assets
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$
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27,323
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$
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199,099
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$
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226,422
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Dermatology
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Pharmaceutical and
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Products
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Biotechnology
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Year Ended December 31, 2018
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Sales
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Product Development
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Consolidated
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Net Revenue
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$
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23,376
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$
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3,506
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$
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26,882
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Direct cost of goods
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(6,125)
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—
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(6,125)
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Sales and marketing costs
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|
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(11,639)
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—
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(11,639)
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Research and development
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—
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(87,383)
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(87,383)
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General and administrative
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(1,778)
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(39,954)
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(41,732)
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Other expense
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(10,803)
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(10,803)
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Segment gain (loss) from operations
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$
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3,834
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$
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(134,634)
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$
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(130,800)
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Segment assets
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Intangible assets, net
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$
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1,417
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$
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—
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$
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1,417
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Tangible assets
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8,984
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130,592
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139,576
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Total segment assets
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$
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10,401
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$
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130,592
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$
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140,993
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