Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2019

Discontinued Operations

Schedule of discontinued operations

The components of loss from discontinued operations as reported in the Company’s condensed consolidated statement of operations were as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Revenues:
Product sales, net	$	4,977	$	510	$	13,734	$	2,043
Total revenue, net		4,977		510		13,734		2,043
Costs and expenses:
Cost of revenue (excludes amortization)		1,118		126		4,396		278
Research and development		132		742		522		1,990
Sales and marketing		5,897		11,317		22,388		34,941
General and administrative		960		433		2,724		474
Intangible asset impairment		27,638		—		27,638		—
Amortization of definite-lived intangible		1,107		—		4,426		—
Total costs and expenses		36,852		12,618		62,094		37,683
Loss from discontinued operations		(31,875)		(12,108)		(48,360)		(35,640)
Other expense, net		(306)		—		(306)		—
Net loss from discontinued operations	$	(32,181)	$	(12,108)	$	(48,666)	$	(35,640)
Net loss from discontinued operations per share, basic and diluted	$	(0.78)	$	(0.39)	$	(1.18)	$	(1.15)
Weighted average common shares outstanding, basic and diluted		41,364,387		30,982,192		41,296,377		30,938,026

The following table presents the details of product sales, net included in discontinued operations:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
ESKATA	$	(32)	$	510	$	312	$	2,043
RHOFADE		5,009		—		13,422		—
Total product sales, net	$	4,977	$	510	$	13,734	$	2,043

The following table presents information related to assets and liabilities reported as discontinued operations in the Company’s condensed consolidated balance sheet: 

	September 30,		December 31,
	2019		2018
Accounts receivable, net	$	17,191	$	4,298
Inventory		189		791
Prepaid expenses and other current assets		—		1,073
Intangible asset held for sale		33,800		—
Discontinued operations - current assets	$	51,180	$	6,162
Property and equipment, net	$	—	$	1,993
Intangible assets, net of accumulated amortization		—		65,678
Discontinued operations - non-current assets	$	—	$	67,671
Accrued expenses	$	14,501	$	3,896
Current portion of lease liabilities		—		459
Discontinued operations - current liabilities	$	14,501	$	4,355
Other liabilities	$	—	$	1,227
Discontinued operations - non- current liabilities	$	—	$	1,227

The following table presents cash flow information related to discontinued operations:

	Nine Months Ended
	September 30,
	2019		2018
Depreciation and amortization	$	302	$	160
Stock-based compensation expense		102		2,687
Intangible asset impairment charge		27,638		—
Loss on disposal of property and equipment		391		—
	$	28,433	$	2,847