Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.23.1
Segment Information
3 Months Ended
Mar. 31, 2023
Segment Information  
Segment Information

16. 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

Dermatology

Biotechnology

Products

Product

Three Months Ended March 31, 2023

    

Sales

    

Development

    

Consolidated

Net revenue

$

12,213

$

216

$

12,429

Cost of goods - product revenue

 

(6,449)

 

 

(6,449)

Research and development

 

(2,033)

 

(37,473)

 

(39,506)

Selling, general and administrative

(13,291)

(12,050)

(25,341)

Other income

 

(575)

 

4,297

 

3,722

Segment loss

$

(10,135)

$

(45,010)

$

(55,145)

Pharmaceutical

and

Dermatology

Biotechnology

Products

Product

Three Months Ended March 31, 2022

    

Sales

    

Development

    

Consolidated

Net revenue

$

23,296

$

629

$

23,925

Cost of goods - product revenue

 

(8,203)

 

(8,203)

Research and development

 

(1,266)

 

(35,456)

(36,722)

Selling, general and administrative

 

(14,715)

(11,555)

(26,270)

Other income

(386)

 

(1,822)

(2,208)

Income tax (expense) benefit

(104)

104

Segment loss

$

(1,378)

$

(48,100)

$

(49,478)

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

Pharmaceutical

    

and

($ in thousands)

Dermatology

Biotechnology

Products

Product

March 31, 2023

    

Sales

    

Development

    

Total Assets

Intangible assets, net

$

26,128

$

$

26,128

Tangible assets

69,726

167,697

237,423

Total segment assets

$

95,854

$

167,697

$

263,551

Pharmaceutical

    

and

($ in thousands)

Dermatology

Biotechnology

Products

Product

December 31, 2022

    

Sales

    

Development

    

Total Assets

Intangible assets, net

$

27,197

$

$

27,197

Tangible assets

77,964

189,140

267,104

Total segment assets

$

105,161

$

189,140

$

294,301