Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.19.1
Segment Information
 3 Months Ended
Mar. 31, 2019
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 of which included National, see Note 3. The following tables summarize, for the periods indicated, operating results, from continued operations by reportable segment:
  
 
 
Dermatology
 
 
Pharmaceutical
and
Biotechnology
 
 
 
 
($ in thousands)
 
Products
 
 
Product
 
 
 
 
Three Months Ended March 31, 2019
 
Sales
 
 
Development
 
 
Consolidated
 
Net Revenue
 
$
6,125
 
 
$
352
 
 
$
6,477
 
Direct cost of goods
 
 
(1,884
)
 
 
–
 
 
 
(1,884
)
Sales and marketing costs
 
 
(3,493
)
 
 
–
 
 
 
(3,493
)
Research and development
 
 
–
 
 
 
(23,723
)
 
 
(23,723
)
General and administrative
 
 
(387
)
 
 
(9,598
)
 
 
(9,985
)
Segment income (loss) from operations
 
$
361
 
 
$
(32,969
)
 
$
(32,608
)
Segment assets
 
$
11,079
 
 
$
189,459
 
 
$
200,538
 
 
($ in thousands)
Three Months Ended March 31, 2018
 
Dermatology
Products
Sales
 
 
Pharmaceutical
and
Biotechnology
Product
Development
 
 
Consolidated
 
Net Revenue
 
$
5,509
 
 
$
394
 
 
$
5,903
 
Direct cost of goods
 
 
(1,472
)
 
 
–
 
 
 
(1,472
)
Sales and marketing costs
 
 
(2,764
)
 
 
–
 
 
 
(2,764
)
Research and development
 
 
–
 
 
 
(25,055
)
 
 
(25,055
)
General and administrative
 
 
(397
)
 
 
(10,387
)
 
 
(10,784
)
Segment income (loss) from operations
 
$
876
 
 
$
(35,048
)
 
$
(34,172
)
Segment assets
 
$
11,163
 
 
$
189,560
 
 
$
200,723
 
Assets held for sale
 
 
 
 
 
 
 
 
 
 
64,352
 
Total consolidated
 
 
 
 
 
 
 
 
 
$
265,075