Quarterly report pursuant to Section 13 or 15(d)

Segments (Tables)

Segments (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of segment reporting information

The information in the following tables is derived directly from each reportable segment’s financial reporting.

Three Months Ended June 30, 2016	Diagnostics		Therapeutics			Corporate			Total
Lymphoseek sales revenue:
United States ⁽¹⁾	$	4,218,606	$	—		$	—		$	4,218,606
International		13,113		—			—			13,113
Lymphoseek license revenue		245,950		—			—			245,950
Grant and other revenue		865,359		51,452			—			916,811
Total revenue		5,343,028		51,452			—			5,394,480
Cost of goods sold, excluding depreciation and amortization		546,466		—			—			546,466
Research and development expenses, excluding depreciation and amortization		2,414,255		111,326			—			2,525,581
Selling, general and administrative expenses, excluding depreciation and amortization ⁽²⁾		1,135,558		4,430			1,644,649			2,784,637
Depreciation and amortization ⁽³⁾		14,274		—			103,504			117,778
Income (loss) from operations ⁽⁴⁾		1,232,475		(64,304	)		(1,748,153	)		(579,982	)
Other income (expense), excluding equity in the loss of R-NAV, LLC ⁽⁵⁾		—		—			(6,098,405	)		(6,098,405	)
Equity in the loss of R-NAV, LLC		—		—			(2,920	)		(2,920	)
Net income (loss)		1,232,475		(64,304	)		(7,849,478	)		(6,681,307	)
Total assets, net of depreciation and amortization:
United States		4,621,738		36,841			3,701,620			8,360,199
International		321,359		—			591			321,950
Capital expenditures		—		—			1,847			1,847

Three Months Ended June 30, 2015	Diagnostics			Therapeutics			Corporate			Total
Lymphoseek sales revenue:
United States ⁽¹⁾	$	1,962,898		$	—		$	—		$	1,962,898
International		650			—			—			650
Lymphoseek license revenue		250,000			—			—			250,000
Grant and other revenue		654,360			—			—			654,360
Total revenue		2,867,908			—			—			2,867,908
Cost of goods sold, excluding depreciation and amortization		304,495			—			—			304,495
Research and development expenses, excluding depreciation and amortization		2,115,786			176,738			—			2,292,524
Selling, general and administrative expenses, excluding depreciation and amortization ⁽²⁾		1,529,042			64,018			2,339,207			3,932,267
Depreciation and amortization ⁽³⁾		32,785			—			116,532			149,317
Loss from operations ⁽⁴⁾		(1,114,200	)		(240,756	)		(2,455,739	)		(3,810,695	)
Other income (expense), excluding equity in the loss of R-NAV, LLC ⁽⁵⁾		—			—			(5,874,019	)		(5,874,019	)
Equity in the loss of R-NAV, LLC		—			—			(6,205	)		(6,205	)
Net loss		(1,114,200	)		(240,756	)		(8,335,963	)		(9,690,919	)
Total assets, net of depreciation and amortization:
United States		4,035,926			—			17,690,779			21,726,705
International		470,033			—			1,851			471,884
Capital expenditures		25,492			—			2,126			27,618

Six Months Ended June 30, 2016	Diagnostics		Therapeutics			Corporate			Total
Lymphoseek sales revenue:
United States ⁽¹⁾	$	7,990,026	$	—		$	—		$	7,990,026
International		24,373		—			—			24,373
Lymphoseek license revenue		500,000		—			—			500,000
Grant and other revenue		1,551,184		51,452			—			1,602,636
Total revenue		10,065,583		51,452			—			10,117,035
Cost of goods sold, excluding depreciation and amortization		1,041,105		—			—			1,041,105
Research and development expenses, excluding depreciation and amortization		4,831,975		353,126			—			5,185,101
Selling, general and administrative expenses, excluding depreciation and amortization ⁽²⁾		2,147,664		3,832			4,620,499			6,771,995
Depreciation and amortization ⁽³⁾		54,564		—			212,806			267,370
Income (loss) from operations ⁽⁴⁾		1,990,275		(305,506	)		(4,833,305	)		(3,148,536	)
Other income (expense), excluding equity in the loss of R-NAV, LLC ⁽⁵⁾		—		—			(7,203,861	)		(7,203,861	)
Equity in the loss of R-NAV, LLC		—		—			(15,159	)		(15,159	)
Net income (loss)		1,990,275		(305,506	)		(12,052,325	)		(10,367,556	)
Total assets, net of depreciation and amortization:
United States		4,621,738		36,841			3,701,620			8,360,199
International		321,359		—			591			321,950
Capital expenditures		—		—			1,847			1,847

Six Months Ended June 30, 2015	Diagnostics			Therapeutics			Corporate			Total
Lymphoseek sales revenue:
United States ⁽¹⁾	$	3,793,920		$	—		$	—		$	3,793,920
International		5,050			—			—			5,050
Lymphoseek license revenue		333,333			—			—			333,333
Grant and other revenue		844,061			—			—			844,061
Total revenue		4,976,364			—			—			4,976,364
Cost of goods sold, excluding depreciation and amortization		725,046			—			—			725,046
Research and development expenses, excluding depreciation and amortization		6,006,510			262,752			—			6,269,262
Selling, general and administrative expenses, excluding depreciation and amortization ⁽²⁾		3,571,217			78,384			5,660,068			9,309,669
Depreciation and amortization ⁽³⁾		65,841			—			233,298			299,139
Loss from operations ⁽⁴⁾		(5,392,250	)		(341,136	)		(5,893,366	)		(11,626,752	)
Other income (expense), excluding equity in the loss of R-NAV, LLC ⁽⁵⁾		—			—			(5,086,960	)		(5,086,960	)
Equity in the loss of R-NAV, LLC		—			—			(268,432	)		(268,432	)
Net loss		(5,392,250	)		(341,136	)		(11,248,758	)		(16,982,144	)
Total assets, net of depreciation and amortization:
United States		4,035,926			—			17,690,779			21,726,705
International		470,033			—			1,851			471,884
Capital expenditures		25,492			—			2,126			27,618

⁽¹⁾

All sales to Cardinal Health are made in the United States; Cardinal distributes the product throughout the U.S. through its network of nuclear pharmacies.

⁽²⁾

General and administrative expenses, excluding depreciation and amortization, represent costs that relate to the general administration of the Company and as such are not currently allocated to our individual reportable segments. Marketing and selling expenses are allocated to our individual reportable segments.

⁽³⁾

Depreciation and amortization is reflected in cost of goods sold ($14,274 and $28,235 for the three-month periods ended June 30, 2016 and 2015, and $54,564 and $56,741 for the six-month periods ended June 30, 2016 and 2015), research and development ($0 and $4,550 for the three-month periods ended June 30, 2016 and 2015, and $0 and $9,100 for the six-month periods ended June 30, 2016 and 2015), and selling, general and administrative expenses ($103,504 and $116,532 for the three-month periods ended June 30, 2016 and 2015, and $212,806 and $233,298 for the six-month periods ended June 30, 2016 and 2015).

⁽⁴⁾

Loss from operations does not reflect the allocation of certain selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments.

⁽⁵⁾

Amounts consist primarily of interest income, interest expense, changes in fair value of financial instruments, and losses on debt extinguishment, which are not currently allocated to our individual reportable segments.