Segment Information

12 Months Ended

Dec. 31, 2022

Segment Information

Segment Information

19. 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, 2022	Sales		Development		Consolidated
Net revenue	$	73,669	$	2,074	$	75,743
Cost of goods - product revenue		(30,775)		—		(30,775)
Research and development		(10,943)		(123,933)		(134,876)
Selling, general and administrative		(59,503)		(54,153)		(113,656)
Other income		(2,048)		(7,852)		(9,900)
Income tax expense		—		(449)		(449)
Segment loss	$	(29,600)	$	(184,313)	$	(213,913)

			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 expense		(7,479)		31,667		24,188
Income tax expense		—		(473)		(473)
Segment income (loss)	$	(42,422)	$	(122,404)	$	(164,826)

The following tables summarize, for the periods indicated, total assets by reportable segment:

			Pharmaceutical
			and
($ in thousands)	Dermatology		Biotechnology
	Products		Product
December 31, 2022	Sales		Development		Total Assets
Intangible assets, net	$	27,197	$	—	$	27,197
Tangible assets		77,964		189,140		267,104
Total segment assets	$	105,161	$	189,140	$	294,301

			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