Quarterly report pursuant to Section 13 or 15(d)

Segments (Tables)

Segments (Tables)

9 Months Ended

Sep. 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 September 30, 2016	Diagnostics		Therapeutics			Corporate			Total
Lymphoseek sales revenue:
United States ⁽¹⁾	$	6,670,644	$	—		$	—		$	6,670,644
International		19,446		—			—			19,446
Lymphoseek license revenue		1,295,625		—			—			1,295,625
Grant and other revenue		501,013		10,346			—			511,359
Total revenue		8,486,728		10,346			—			8,497,074
Cost of goods sold, excluding depreciation and amortization		909,539		—			—			909,539
Research and development expenses, excluding depreciation and amortization		1,028,389		247,664			—			1,276,053
Selling, general and administrative expenses, excluding depreciation and amortization ⁽²⁾		839,410		27,758			1,974,419			2,841,587
Depreciation and amortization ⁽³⁾		12,278		—			99,186			111,464
Income (loss) from operations ⁽⁴⁾		5,697,112		(265,076	)		(2,073,605	)		3,358,431
Other income (expense), excluding equity in the loss of R-NAV, LLC ⁽⁵⁾		—		—			(3,417,967	)		(3,417,967	)
Net income (loss)		5,697,112		(265,076	)		(5,491,572	)		(59,536	)
Total assets, net of depreciation and amortization:
United States		4,673,425		9,356			6,357,898			11,040,679
International		148,224		—			697			148,921
Capital expenditures		—		—			1,847			1,847

Three Months Ended September 30, 2015	Diagnostics			Therapeutics			Corporate			Total
Lymphoseek sales revenue:
United States ⁽¹⁾	$	2,942,498		$	—		$	—		$	2,942,498
International		10,024			—			—			10,024
Lymphoseek license revenue		550,000			—			—			550,000
Grant and other revenue		476,755			—			—			476,755
Total revenue		3,979,277			—			—			3,979,277
Cost of goods sold, excluding depreciation and amortization		442,094			—			—			442,094
Research and development expenses, excluding depreciation and amortization		3,603,501			297,137			—			3,900,638
Selling, general and administrative expenses, excluding depreciation and amortization ⁽²⁾		1,063,062			42,487			2,721,844			3,827,393
Depreciation and amortization ⁽³⁾		17,013			—			115,216			132,229
Loss from operations ⁽⁴⁾		(1,146,393	)		(339,624	)		(2,837,060	)		(4,323,077	)
Other income (expense), excluding equity in the loss of R-NAV, LLC ⁽⁵⁾		—			—			(3,721,242	)		(3,721,242	)
Equity in the loss of R-NAV, LLC		—			—			(26,785	)		(26,785	)
Net loss		(1,146,393	)		(339,624	)		(6,585,087	)		(8,071,104	)
Total assets, net of depreciation and amortization:
United States		3,750,702			—			13,291,939			17,042,641
International		440,349			—			467			440,816
Capital expenditures		—			—			2,788			2,788

Nine Months Ended September 30, 2016	Diagnostics		Therapeutics			Corporate			Total
Lymphoseek sales revenue:
United States ⁽¹⁾	$	14,660,670	$	—		$	—		$	14,660,670
International		43,819		—			—			43,819
Lymphoseek license revenue		1,795,625		—			—			1,795,625
Grant and other revenue		2,052,197		61,798			—			2,113,995
Total revenue		18,552,311		61,798			—			18,614,109
Cost of goods sold, excluding depreciation and amortization		1,950,644		—			—			1,950,644
Research and development expenses, excluding depreciation and amortization		5,860,364		600,790			—			6,461,154
Selling, general and administrative expenses, excluding depreciation and amortization ⁽²⁾		2,987,074		31,590			6,594,918			9,613,582
Depreciation and amortization ⁽³⁾		66,842		—			311,992			378,834
Income (loss) from operations ⁽⁴⁾		7,687,387		(570,582	)		(6,906,910	)		209,895
Other income (expense), excluding equity in the loss of R-NAV, LLC ⁽⁵⁾		—		—			(10,621,828	)		(10,621,828	)
Equity in the loss of R-NAV, LLC		—		—			(15,159	)		(15,159	)
Net income (loss)		7,687,387		(570,582	)		(17,543,897	)		(10,427,092	)
Total assets, net of depreciation and amortization:
United States		4,673,425		9,356			6,357,898			11,040,679
International		148,224		—			697			148,921
Capital expenditures		—		—			1,847			1,847

Nine Months Ended September 30, 2015	Diagnostics			Therapeutics			Corporate			Total
Lymphoseek sales revenue:
United States ⁽¹⁾	$	6,736,418		$	—		$	—		$	6,736,418
International		15,074			—			—			15,074
Lymphoseek license revenue		883,333			—			—			883,333
Grant and other revenue		1,320,816			—			—			1,320,816
Total revenue		8,955,641			—			—			8,955,641
Cost of goods sold, excluding depreciation and amortization		1,167,141			—			—			1,167,141
Research and development expenses, excluding depreciation and amortization		9,610,012			559,888			—			10,169,900
Selling, general and administrative expenses, excluding depreciation and amortization ⁽²⁾		4,634,279			120,872			8,381,910			13,137,061
Depreciation and amortization ⁽³⁾		207,498			—			223,870			431,368
Loss from operations ⁽⁴⁾		(6,663,289	)		(680,760	)		(8,605,780	)		(15,949,829	)
Other income (expense), excluding equity in the loss of R-NAV, LLC ⁽⁵⁾		—			—			(8,808,202	)		(8,808,202	)
Equity in the loss of R-NAV, LLC		—			—			(295,217	)		(295,217	)
Net loss		(6,663,289	)		(680,760	)		(17,709,199	)		(25,053,248	)
Total assets, net of depreciation and amortization:
United States		3,750,702			—			13,291,939			17,042,641
International		440,349			—			467			440,816
Capital expenditures		25,492			—			4,914			30,406

⁽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 ($12,278 and $15,496 for the three-month periods ended September 30, 2016 and 2015, and $66,842 and $72,237 for the nine-month periods ended September 30, 2016 and 2015), research and development ($0 and $1,517 for the three-month periods ended September 30, 2016 and 2015, and $0 and $10,617 for the nine-month periods ended September 30, 2016 and 2015), and selling, general and administrative expenses ($99,186 and $115,216 for the three-month periods ended September 30, 2016 and 2015, and $311,992 and $348,514 for the nine-month periods ended September 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.