Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.19.1
Segment Information
 12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Segment Information
18. 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.
Prior to the sale of National the Company operated in three segments, one which included National, see Note 3. 
The following tables summarize, for the periods indicated, operating results
, from continued operations
by reportable segment ($ in thousands):
 
 
 
Dermatology
 
 
Pharmaceutical
 
and
 
 
 
 
 
 
Products
 
 
Biotechnology
 
 
 
 
Year Ended December 31, 2018
 
Sales
 
 
Product Development
 
 
Consolidated
 
Net Revenue
 
$
23,376
  
 
$
3,506
  
 
$
26,882
  
Direct cost of goods
 
 
(6,125
)
 
 
–
  
 
 
(6,125
)
Sales and marketing costs
 
 
(11,639
)
 
 
–
  
 
 
(11,639
)
Research and development
 
 
–
  
 
 
(87,383
)
 
 
(87,383
)
General and administrative
 
 
(1,778
)
 
 
(39,954
)
 
 
(41,732
)
Other Expenses
 
 
–
  
 
 
(10,803
)
 
 
(10,803
)
Segment gain (loss) from
continuing
operations
 
$
3,734
  
 
$
(134,534
)
 
$
(130,800
)
Segment assets
 
$
10,401
  
 
$
130,592
 
 
$
140,993
  
 
 
 
Dermatology
 
 
Pharmaceutical
and
 
 
 
 
 
 
Products
 
 
Biotechnology
 
 
 
 
Year Ended December 31, 2017
 
Sales
 
 
Product Development
 
 
Consolidated
 
Net Revenue
 
$
15,520
  
 
$
1,725
  
 
$
17,245
  
Direct cost of goods
 
 
(3,658
)
 
 
-
 
 
 
(3,658
)
Sales and marketing costs
 
 
(10,410
)
 
 
-
 
 
 
(10,410
)
Research and development
 
 
-
  
 
 
(52,486
)
 
 
(52,486
)
General and administrative
 
 
(1,140
)
 
 
(39,347
)
 
 
(40,487
)
Other Expenses
 
 
-
  
 
 
(7,717
)
 
 
(7,717
)
Segment gain (loss)
from
 operations
 
$
312
  
 
$
(97,825
)
 
$
(97,513
)
Segment assets
 
$
9,644
  
 
$
161,242
  
 
$
170,886
 
Assets held for sale
 
 
 
 
 
 
 
 
 
 
75,064
 
Total consolidated
 
 
 
 
 
 
 
 
 
$
245,950