| Schedule of 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:
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|
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|
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Pharmaceutical |
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|
|
|
|
|
|
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and |
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|
|
($ in thousands) |
|
Dermatology |
|
Biotechnology |
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|
|
|
|
Products |
|
Product |
|
|
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Three Months Ended June 30, 2021 |
|
Sales |
|
Development |
|
Consolidated |
Net revenue |
|
$ |
15,288 |
|
$ |
2,555 |
|
$ |
17,843 |
Direct cost of goods |
|
|
(7,484) |
|
|
— |
|
|
(7,484) |
Sales and marketing costs |
|
|
(6,535) |
|
|
— |
|
|
(6,535) |
Research and development |
|
|
(10,029) |
|
|
(23,805) |
|
|
(33,834) |
General and administrative |
|
|
(1,084) |
|
|
(11,763) |
|
|
(12,847) |
Other expense |
|
|
(4,683) |
|
|
23,149 |
|
|
18,466 |
Segment loss |
|
$ |
(14,527) |
|
|
(9,864) |
|
$ |
(24,391) |
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|
|
|
|
|
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|
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|
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|
|
|
Pharmaceutical |
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|
|
|
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and |
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|
|
|
|
Dermatology |
|
Biotechnology |
|
|
|
($ in thousands) |
|
Products |
|
Product |
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|
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Three Months Ended June 30, 2020 |
|
Sales |
|
Development |
|
Consolidated |
Net revenue |
|
$ |
9,415 |
|
$ |
42 |
|
$ |
9,457 |
Direct cost of goods |
|
|
(3,124) |
|
|
— |
|
|
(3,124) |
Sales and marketing costs |
|
|
(3,400) |
|
|
— |
|
|
(3,400) |
Research and development |
|
|
— |
|
|
(17,273) |
|
|
(17,273) |
General and administrative |
|
|
(1,349) |
|
|
(9,707) |
|
|
(11,056) |
Other expense |
|
|
(172) |
|
|
(2,895) |
|
|
(3,067) |
Segment income (loss) |
|
$ |
1,370 |
|
$ |
(29,833) |
|
$ |
(28,463) |
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|
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Pharmaceutical |
|
|
|
|
|
|
|
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and |
|
|
|
|
|
Dermatology |
|
Biotechnology |
|
|
|
|
|
Products |
|
Product |
|
|
|
Six Months Ended June 30, 2021 |
|
Sales |
|
Development |
|
Consolidated |
Net revenue |
|
$ |
26,007 |
|
$ |
3,423 |
|
$ |
29,430 |
Direct cost of goods |
|
|
(11,392) |
|
|
— |
|
|
(11,392) |
Sales and marketing costs |
|
|
(11,605) |
|
|
— |
|
|
(11,605) |
Research and development |
|
|
(10,029) |
|
|
(43,959) |
|
|
(53,988) |
General and administrative |
|
|
(2,240) |
|
|
(23,079) |
|
|
(25,319) |
Other Expenses |
|
|
(4,904) |
|
|
27,321 |
|
|
22,417 |
Segment loss |
|
$ |
(14,163) |
|
$ |
(36,294) |
|
$ |
(50,457) |
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|
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|
|
Pharmaceutical |
|
|
|
|
|
|
|
|
and |
|
|
|
|
|
Dermatology |
|
Biotechnology |
|
|
|
|
|
Products |
|
Product |
|
|
|
Six Months Ended June 30, 2020 |
|
Sales |
|
Development |
|
Consolidated |
Net revenue |
|
$ |
21,361 |
|
$ |
1,014 |
|
$ |
22,375 |
Direct cost of goods |
|
|
(6,934) |
|
|
— |
|
|
(6,934) |
Sales and marketing costs |
|
|
(8,079) |
|
|
— |
|
|
(8,079) |
Research and development |
|
|
— |
|
|
(32,390) |
|
|
(32,390) |
General and administrative |
|
|
(2,302) |
|
|
(19,594) |
|
|
(21,896) |
Other expense |
|
|
(379) |
|
|
(5,228) |
|
|
(5,607) |
Segment income (loss) |
|
$ |
3,667 |
|
$ |
(56,198) |
|
$ |
(52,531) |
The following tables summarize, for the periods indicated, total assets by reportable segment:
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Pharmaceutical |
|
|
|
|
|
|
|
|
and |
|
|
|
($ in thousands) |
|
Dermatology |
|
Biotechnology |
|
|
|
|
|
Products |
|
Product |
|
|
|
June 30, 2021 |
|
Sales |
|
Development |
|
Total Assets |
Intangible assets, net |
|
$ |
13,701 |
|
$ |
— |
|
$ |
13,701 |
Tangible assets |
|
|
53,712 |
|
|
350,745 |
|
|
404,457 |
Total segment assets |
|
$ |
67,413 |
|
$ |
350,745 |
|
$ |
418,158 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical |
|
|
|
|
|
|
|
|
and |
|
|
|
($ in thousands) |
|
Dermatology |
|
Biotechnology |
|
|
|
|
|
Products |
|
Product |
|
|
|
December 31, 2020 |
|
Sales |
|
Development |
|
Total Assets |
Intangible assets, net |
|
$ |
14,629 |
|
$ |
— |
|
$ |
14,629 |
Tangible assets |
|
|
35,422 |
|
|
283,362 |
|
|
318,784 |
Total segment assets |
|
$ |
50,051 |
|
$ |
283,362 |
|
$ |
333,413 |
|