| 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 |
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and |
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($ in thousands) |
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Dermatology |
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Biotechnology |
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Products |
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Product |
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Three Months Ended September 30, 2022 |
|
Sales1 |
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Development |
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Consolidated |
Net revenue |
|
$ |
16,116 |
|
$ |
412 |
|
$ |
16,528 |
Cost of goods - product revenue |
|
|
(7,221) |
|
|
— |
|
|
(7,221) |
Research and development |
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|
(2,812) |
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|
(27,090) |
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|
(29,902) |
Selling, general and administrative |
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|
(15,574) |
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|
(14,565) |
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|
(30,139) |
Other expense |
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(577) |
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|
(1,749) |
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|
(2,326) |
Segment loss |
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$ |
(10,068) |
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|
(42,992) |
|
$ |
(53,060) |
Note 1: Dermatology Product Sales segment reflects stand-alone income tax expense that has been eliminated in consolidation.
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Pharmaceutical |
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and |
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Dermatology |
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Biotechnology |
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($ in thousands) |
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Products |
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Product |
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Three Months Ended September 30, 2021 |
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Sales |
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Development |
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Consolidated |
Net revenue |
|
$ |
19,610 |
|
$ |
1,475 |
|
$ |
21,085 |
Cost of goods - product revenue |
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|
(11,167) |
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|
— |
|
|
(11,167) |
Research and development |
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|
(794) |
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(27,286) |
|
|
(28,080) |
Selling, general and administrative |
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(10,755) |
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|
(11,466) |
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|
(22,221) |
Wire transfer fraud loss |
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(9,540) |
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— |
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(9,540) |
Other expense |
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|
(1,375) |
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|
5,437 |
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|
4,062 |
Segment income (loss) |
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$ |
(14,021) |
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$ |
(31,840) |
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$ |
(45,861) |
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Pharmaceutical |
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and |
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Dermatology |
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Biotechnology |
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Products |
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Product |
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Nine Months Ended September 30, 2022 |
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Sales |
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Development |
|
Consolidated |
Net revenue |
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$ |
57,703 |
|
$ |
1,636 |
|
$ |
59,339 |
Cost of goods - product revenue |
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|
(23,057) |
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— |
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(23,057) |
Research and development |
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(6,687) |
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(93,068) |
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|
(99,755) |
Selling, general and administrative |
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(45,517) |
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(39,940) |
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(85,457) |
Other income |
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(1,413) |
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(6,125) |
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(7,538) |
Segment loss |
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$ |
(18,971) |
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$ |
(137,497) |
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$ |
(156,468) |
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Pharmaceutical |
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and |
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Dermatology |
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Biotechnology |
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Products |
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Product |
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Nine Months Ended September 30, 2021 |
|
Sales |
|
Development |
|
Consolidated |
Net revenue |
|
$ |
45,617 |
|
$ |
4,898 |
|
$ |
50,515 |
Cost of goods - product revenue |
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|
(22,559) |
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|
— |
|
|
(22,559) |
Research and development |
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(14,566) |
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(71,245) |
|
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(85,811) |
Selling, general and administrative |
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(24,776) |
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(34,369) |
|
|
(59,145) |
Wire transfer fraud loss |
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(9,540) |
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— |
|
|
(9,540) |
Other expense |
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|
(3,120) |
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|
33,342 |
|
|
30,222 |
Segment income (loss) |
|
$ |
(28,944) |
|
$ |
(67,374) |
|
$ |
(96,318) |
The following tables summarize, for the periods indicated, total assets by reportable segment:
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Pharmaceutical |
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and |
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($ in thousands) |
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Dermatology |
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Biotechnology |
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Products |
|
Product |
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September 30, 2022 |
|
Sales |
|
Development |
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Total Assets |
Intangible assets, net |
|
$ |
28,424 |
|
$ |
— |
|
$ |
28,424 |
Tangible assets |
|
|
79,721 |
|
|
215,416 |
|
|
295,137 |
Total segment assets |
|
$ |
108,145 |
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$ |
215,416 |
|
$ |
323,561 |
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Pharmaceutical |
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and |
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($ in thousands) |
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Dermatology |
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Biotechnology |
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Products |
|
Product |
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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 |
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