Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

The following tables present a summary of the Company’s reporting segments for the three months and six months ended June 30, 2021 and 2020, respectively (unaudited)

The following tables present a summary of the Company’s reporting segments for the three months and six months ended June 30, 2021 and 2020, respectively (unaudited):

	Three Months ended June 30, 2021									Three Months ended June 30, 2020
	Drug Development and Commercialization			Compounded Pharmaceuticals			Consolidated			Drug Development and Commercialization			Compounded Pharmaceuticals			Consolidated
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
REVENUE, net	$	1,275,474		$	2,735,830		$	4,011,304		$	721,435		$	3,204,907		$	3,926,342
COST OF GOODS SOLD		1,796,242			2,074,390			3,870,632			1,840,402			2,843,433			4,683,835
Gross (Loss) Profit		(520,768	)		661,440			140,672			(1,118,967	)		361,474			(757,493	)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES		4,934,491			2,197,153			7,131,644			3,008,585			2,644,507			5,653,092
RESEARCH AND DEVELOPMENT		2,196,721			36,055			2,232,776			2,926,108			159,716			3,085,824
IMPAIRMENT EXPENSE -CONTRACT COSTS		—			—			—			1,750,000			—			1,750,000
IMPAIRMENT EXPENSE - CIP		—			9,347			9,347			—			—			—
Loss from Operations	$	(7,651,980	)	$	(1,581,115	)	$	(9,233,095	)	$	(8,803,660	)	$	(2,442,749	)	$	(11,246,409	)
OTHER INCOME (EXPENSE)
INTEREST EXPENSE		(2,900	)		(42,047	)		(44,947	)		(1,490	)		(31,435	)		(32,925	)
OTHER INCOME		1,900			5,986			7,886			9,602			7,019			16,621
CHANGE IN FAIR VALUE OF WARRANT LIABILITIES		(43,574	)		—			(43,574	)		(1,662,000	)		—			(1,662,000	)
Total Other Income (Expense), net		(44,574	)		(36,061	)		(80,635	)		(1,653,888	)		(24,416	)		(1,678,304	)
Net Loss Before Income Taxes	$	(7,696,554	)	$	(1,617,176	)	$	(9,313,730	)	$	(10,457,548	)	$	(2,467,165	)	$	(12,924,713	)

	Six Months ended June 30, 2021									Six Months ended June 30, 2020
	Drug Development and Commercialization			Compounded Pharmaceuticals			Consolidated			Drug Development and Commercialization			Compounded Pharmaceuticals			Consolidated
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
REVENUE, net	$	2,608,153		$	5,511,683		$	8,119,836		$	1,228,719		$	7,360,833		$	8,589,552
COST OF GOODS SOLD		3,641,480			3,871,100			7,512,580			3,573,185			4,797,694			8,370,879
Gross (Loss) Profit		(1,033,327	)		1,640,583			607,256			(2,344,466	)		2,563,139			218,673
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES		8,452,542			4,598,576			13,051,118			6,311,817			5,395,646			11,707,463
RESEARCH AND DEVELOPMENT		4,446,464			47,634			4,494,098			4,962,840			159,716			5,122,556
IMPAIRMENT EXPENSE - GOODWILL		—			—			—			—			3,143,200			3,143,200
IMPAIRMENT EXPENSE - CONTRACT COST		—			—			—			1,750,000			—			1,750,000
IMPAIRMENT EXPENSE - CIP		—			9,347			9,347			—			—			—
Loss from Operations	$	(13,932,333	)	$	(3,014,974	)	$	(16,947,307	)	$	(15,369,123	)	$	(6,135,423	)	$	(21,504,546	)
OTHER INCOME (EXPENSE)
INTEREST EXPENSE		(4,784	)		(79,488	)		(84,272	)		(1,490	)		(69,722	)		(71,212	)
OTHER INCOME		3,351			20,738			24,089			32,657			7,019			39,676
CHANGE IN FAIR VALUE OF WARRANT LIABILITIES		(7,685,474	)		—			(7,685,474	)		1,365,000			—			1,365,000
Total Other Income (Expense), net		(7,686,907	)		(58,750	)		(7,745,657	)		1,396,167			(62,703	)		1,333,464
Net (Loss) Before Income Taxes	$	(21,619,240	)	$	(3,073,724	)	$	(24,692,964	)	$	(13,972,956	)	$	(6,198,126	)	$	(20,171,082	)

the following segment information is presented for Drug Development and Commercialization; and Compounded Pharmaceuticals.

The CODM is provided certain segment cash flow and balance sheet information in connection with operating and investment decisions regularly. Accordingly, the following segment information is presented for Drug Development and Commercialization; and Compounded Pharmaceuticals.

	June 30, 2021		December 31, 2020
Assets
Drug Development and Commercialization	$	46,890,167	$	13,027,945
Compounded Pharmaceuticals		16,817,317		17,839,517
Total Assets	$	63,707,484	$	30,867,462

	Three Months Ended June 30,
	2021		2020
Capital Expenditures:
Drug Development and Commercialization	$	362,055	$	260,427
Compounded Pharmaceuticals		15,310		40,807
Total Capital Expenditures	$	377,365	$	301,234
	Six Months Ended June 30,
	2021		2020
Capital Expenditures:
Drug Development and Commercialization	$	795,812	$	319,513
Compounded Pharmaceuticals		15,311		133,587
Total Capital Expenditures	$	811,123	$	453,100

	Three Months Ended June 30,
	2021		2020
Depreciation and Amortization:
Drug Development and Commercialization	$	368,960	$	565,882
Compounded Pharmaceuticals		309,643		312,223
Total Depreciation and Amortization	$	678,603	$	878,105
	Six Months Ended June 30,
	2021		2020
Depreciation and Amortization:
Drug Development and Commercialization	$	696,867	$	1,171,452
Compounded Pharmaceuticals		628,897		623,853
Total Depreciation and Amortization	$	1,325,764	$	1,795,305