| 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:
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|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical |
|
|
|
|
|
|
|
|
and |
|
|
|
($ in thousands) |
|
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 expense |
|
|
(386) |
|
|
(1,822) |
|
|
(2,208) |
Income tax (expense) benefit1 |
|
|
(104) |
|
|
104 |
|
|
— |
Segment loss |
|
$ |
(1,378) |
|
|
(48,100) |
|
$ |
(49,478) |
Note 1: Dermatology Product Sales segment reflects stand-alone income tax expense that has been eliminated in consolidation.
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|
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|
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|
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|
|
Pharmaceutical |
|
|
|
|
|
|
|
|
and |
|
|
|
|
|
Dermatology |
|
Biotechnology |
|
|
|
($ in thousands) |
|
Products |
|
Product |
|
|
|
Three Months Ended March 31, 2021 |
|
Sales |
|
Development |
|
Consolidated |
Net revenue |
|
$ |
10,719 |
|
$ |
868 |
|
$ |
11,587 |
Cost of goods - product revenue |
|
|
(3,908) |
|
|
— |
|
|
(3,908) |
Research and development |
|
|
— |
|
|
(20,154) |
|
|
(20,154) |
Selling, general and administrative |
|
|
(6,226) |
|
|
(11,316) |
|
|
(17,542) |
Other expense |
|
|
(221) |
|
|
4,172 |
|
|
3,951 |
Segment income (loss) |
|
$ |
364 |
|
$ |
(26,430) |
|
$ |
(26,066) |
The following tables summarize, for the periods indicated, total assets by reportable segment:
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|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical |
|
|
|
|
|
|
|
|
and |
|
|
|
($ in thousands) |
|
Dermatology |
|
Biotechnology |
|
|
|
|
|
Products |
|
Product |
|
|
|
March 31, 2022 |
|
Sales |
|
Development |
|
Total Assets |
Intangible assets, net |
|
$ |
30,457 |
|
$ |
— |
|
$ |
30,457 |
Tangible assets |
|
|
90,444 |
|
|
287,029 |
|
|
377,473 |
Total segment assets |
|
$ |
120,901 |
|
$ |
287,029 |
|
$ |
407,930 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|