| 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 |
|