Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.22.2
Segment Information (Tables)
6 Months Ended
Jun. 30, 2022
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 are consistently applied to all segments. The following tables summarize, for the periods indicated, operating results from continued operations by reportable segment:

Pharmaceutical

    

and

($ in thousands)

Dermatology

Biotechnology

Products

Product

Three Months Ended June 30, 2022

    

Sales

    

Development

    

Consolidated

Net revenue

$

18,291

$

595

$

18,886

Cost of goods - product revenue

 

(7,633)

 

 

(7,633)

Research and development

 

(2,609)

 

(30,522)

 

(33,131)

Selling, general and administrative

(15,127)

(13,921)

(29,048)

Other expense

(450)

 

(2,554)

(3,004)

Segment loss

$

(7,528)

(46,402)

$

(53,930)

Note 1:  Dermatology Product Sales segment reflects stand-alone income tax expense that has been eliminated in consolidation.

Pharmaceutical

and

Dermatology

Biotechnology

($ in thousands)

Products

Product

Three Months Ended June 30, 2021

    

Sales

    

Development

    

Consolidated

Net revenue

$

15,288

$

2,555

$

17,843

Cost of goods - product revenue

 

(7,484)

 

 

(7,484)

Research and development

 

(10,029)

 

(23,805)

(33,834)

Selling, general and administrative

 

(7,619)

 

(11,763)

(19,382)

Other expense

(4,683)

 

23,149

18,466

Segment income (loss)

$

(14,527)

$

(9,864)

$

(24,391)

Pharmaceutical

    

and

Dermatology

Biotechnology

Products

Product

Six Months Ended June 30, 2022

    

Sales

    

Development

    

Consolidated

Net revenue

$

41,587

$

1,224

$

42,811

Cost of goods - product revenue

 

(15,836)

 

 

(15,836)

Research and development

 

(3,875)

 

(65,978)

 

(69,853)

Selling, general and administrative

(29,946)

(25,372)

(55,318)

Other income

 

(836)

 

(4,376)

 

(5,212)

Segment loss

$

(8,906)

$

(94,502)

$

(103,408)

Pharmaceutical

and

Dermatology

Biotechnology

Products

Product

Six Months Ended June 30, 2021

    

Sales

    

Development

    

Consolidated

Net revenue

$

26,007

$

3,423

$

29,430

Cost of goods - product revenue

 

(11,392)

 

(11,392)

Research and development

 

(10,029)

 

(43,959)

(53,988)

Selling, general and administrative

 

(13,845)

(23,079)

(36,924)

Other expense

(4,904)

 

27,321

22,417

Segment income (loss)

$

(14,163)

$

(36,294)

$

(50,457)

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

Pharmaceutical

    

and

($ in thousands)

Dermatology

Biotechnology

Products

Product

June 30, 2022

    

Sales

    

Development

    

Total Assets

Intangible assets, net

$

29,440

$

$

29,440

Tangible assets

84,056

250,459

334,515

Total segment assets

$

113,496

$

250,459

$

363,955

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