DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations of the MST Franchise

The following table presents the combined results of discontinued operations of the MST Franchise:

(in thousands)	Three months ended March 31, 2022		Three months ended March 31, 2021
Product sales	$	106	$	3,889
Cost of goods sold	80		601
Operating expenses:
Research and development	—		2,078
Selling, general and administrative	(333)		10,884
Total operating expenses	(333)		12,962
Income (loss) from discontinued operations	359		(9,674)
Gain on the sale of the MST Franchise	13,005		—
Income (loss) from discontinued operations, before income taxes	13,364		(9,674)
Income tax expense	—		—
Net income (loss) from discontinued operations	$	13,364	$	(9,674)

The following table presents the carrying amounts of the classes of assets and liabilities related to the discontinued operations of the MST Franchise as of March 31, 2022 and December 31, 2021:

(in thousands)	March 31, 2022		December 31, 2021
Current assets:
Inventory	$	—	$	7,291
Prepaid expenses and other assets	—		554
Total current assets of discontinued operations	$	—	$	7,845

The following table presents non-cash items related to discontinued operations, which are included in the Company's unaudited condensed consolidated statement of cash flows for the three months ended March 31, 2022 and 2021:

(in thousands)	Three months ended March 31, 2022		Three months ended March 31, 2021
Cash Flows From Operating Activities:
Stock-based compensation (income) expense*	$	(352)	$	382
(Gain) on the sale of the MST Franchise	(13,005)		—
Total non-cash items of discontinued operations	$	(13,357)	$	382
Supplemental disclosure of cash flow information:
Amount due from sale of MST Franchise	$	5,000	$	—

*Income from stock based compensation is related to forfeitures.

The following table presents the gain on the sale of the MST Franchise:

(in thousands)	March 31, 2022
Cash proceeds	$	20,000
Proceeds to be paid in January 2023	5,000
	25,000
Less transaction costs:	(4,247)
Less book value of sold assets	(7,748)
Gain on sale, before income taxes	13,005
Income tax expense	—
Gain on sale net of tax	$	13,005