Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.21.1
Segment Information
12 Months Ended
Dec. 31, 2020
Segment Information  
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. The following tables summarize, for the periods indicated, operating results from continued operations by reportable segment:

Pharmaceutical

    

and

Dermatology

Biotechnology

($ in thousands)

Products

Product

Year Ended December 31, 2020

    

Sales

    

Development

    

Consolidated

Net revenue

$

44,531

$

1,068

$

45,599

Direct cost of goods

 

(14,594)

 

 

(14,594)

Sales and marketing costs

 

(17,384)

 

 

(17,384)

Research and development

 

 

(64,109)

 

(64,109)

General and administrative

(4,716)

(39,066)

(43,782)

Other expense

 

(697)

 

(7,882)

 

(8,579)

Income tax expense

(96)

(40)

(136)

Segment income (loss)

$

7,044

$

(110,029)

$

(102,985)

Segment assets

Intangible assets, net

14,629

14,629

Tangible assets

30,843

283,362

314,205

Total segment assets

$

45,472

$

283,362

$

328,834

Pharmaceutical

 and 

Dermatology

Biotechnology

($ in thousands)

Products

Product

Year Ended December 31, 2019

    

Sales

    

Development

    

Consolidated

Net revenue

$

34,921

$

1,708

$

36,629

Direct cost of goods

 

(10,532)

 

 

(10,532)

Sales and marketing costs

 

(17,120)

 

 

(17,120)

Research and development

 

 

(81,326)

 

(81,326)

General and administrative

 

(2,556)

 

(35,914)

 

(38,470)

Other income

 

 

9,159

 

9,159

Segment income (loss)

$

4,713

$

(106,373)

$

(101,660)

Segment assets

Intangible assets, net

 

7,377

7,377

Tangible assets

 

19,946

199,099

219,045

Total segment assets

$

27,323

$

199,099

$

226,422