Annual report pursuant to Section 13 and 15(d)

Segment Information (Tables)

v3.22.1
Segment Information (Tables)
12 Months Ended
Dec. 31, 2021
Segment Information  
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:

Pharmaceutical

    

and

Dermatology

Biotechnology

Products

Product

Year Ended December 31, 2021

    

Sales

    

Development

    

Consolidated

Net revenue

$

63,134

$

5,657

$

68,791

Cost of goods - product revenue

 

(32,084)

 

 

(32,084)

Research and development

 

(16,558)

 

(112,307)

 

(128,865)

Selling, general and administrative

(39,895)

(46,948)

(86,843)

Wire transfer fraud loss

(9,540)

(9,540)

Other income

 

(7,479)

 

31,667

 

24,188

Income tax expense

(473)

(473)

Segment loss

$

(42,422)

$

(122,404)

$

(164,826)

Pharmaceutical

and

Dermatology

Biotechnology

Products

Product

Year Ended December 31, 2020

    

Sales

    

Development

    

Consolidated

Net revenue

$

44,531

$

1,068

$

45,599

Cost of goods - product revenue

 

(14,594)

 

(14,594)

Research and development

 

 

(64,109)

(64,109)

Selling, general and administrative

 

(22,100)

 

(39,066)

(61,166)

Other expense

(697)

(7,882)

(8,579)

Income tax expense

(96)

(40)

(136)

Segment income (loss)

$

7,044

$

(110,029)

$

(102,985)

The following tables summarize, for the periods indicated, total assets by reportable segment:

Pharmaceutical

    

and

($ in thousands)

Dermatology

Biotechnology

Products

Product

December 31, 2021

    

Sales

    

Development

    

Total Assets

Intangible assets, net

$

12,552

$

$

12,552

Tangible assets

84,732

299,219

383,951

Total segment assets

$

97,284

$

299,219

$

396,503

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