Quarterly report pursuant to Section 13 or 15(d)

Note 15 - Segments

v3.19.1
Note 15 - Segments
3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
1
5
.
Segments
 
We report information about our operating segments using the “management approach” in accordance with current accounting standards. This information is based on the way management organizes and reports the segments within the enterprise for making operating decisions and assessing performance. Our reportable segments are identified based on differences in products, services and markets served. There were
no
inter-segment sales. We manage our business based on
two
primary types of drug products: (i) diagnostic substances, including Tc
99m
tilmanocept and other diagnostic applications of our Manocept platform, and
NAV4694
(sublicensed in
April 2018),
and (ii) therapeutic development programs, including therapeutic applications of our Manocept platform and all development programs undertaken by MT.
 
The information in the following tables is derived directly from each reportable segment’s financial reporting.
 
T
hree Months Ended March 31, 2019
 
Diagnostics
   
Therapeutics
   
Corporate
   
Total
 
Royalty revenue
  $
3,150
    $
    $
    $
3,150
 
Sublease revenue
   
     
     
94,408
     
94,408
 
Grant and other revenue
   
35,991
     
2,483
     
     
38,474
 
Total revenue
   
39,141
     
2,483
     
94,408
     
136,032
 
Cost of revenue
   
6,126
     
     
     
6,126
 
Research and development expenses
   
740,583
     
     
     
740,583
 
Selling, general and administrative expenses, excluding depreciation and amortization
(1)
   
     
11,714
     
1,774,431
     
1,786,145
 
Depreciation and amortization
(2)
   
     
     
36,779
     
36,779
 
Loss from operations
(3)
   
(707,568
)
   
(9,231
)
   
(1,716,802
)
   
(2,433,601
)
Other income
(4)
   
     
     
8,713
     
8,713
 
Provision for income taxes
   
(256
)
   
(3
)
   
(617
)
   
(876
)
Net loss from continuing operations
   
(707,824
)
   
(9,234
)
   
(1,708,706
)
   
(2,425,764
)
Loss from discontinued operations, net of tax
   
(3,297
)
   
     
     
(3,297
)
Net loss
   
(711,121
)
   
(9,234
)
   
(1,708,706
)
   
(2,429,061
)
Total assets, net of depreciation and amortization:
                               
United States
  $
55,213
    $
2,411
    $
4,891,112
    $
4,948,736
 
International
   
10,422
     
     
602
     
11,024
 
Capital expenditures
   
     
     
     
 
 
T
hree Months Ended March 31, 2018
 
Diagnostics
   
Therapeutics
   
Corporate
   
Total
 
Royalty revenue
  $
795
    $
    $
    $
795
 
Grant and other revenue
   
232,436
     
43,214
     
     
275,650
 
Total revenue
   
233,231
     
43,214
     
     
276,445
 
Cost of revenue
   
318
     
     
     
318
 
Research and development expenses
   
785,011
     
213,945
     
     
998,956
 
Selling, general and administrative expenses, excluding depreciation and amortization
(1)
   
     
8,607
     
1,729,778
     
1,738,385
 
Depreciation and amortization
(2)
   
     
     
37,987
     
37,987
 
Loss from operations
(3)
   
(552,098
)
   
(179,338
)
   
(1,767,765
)
   
(2,499,201
)
Other expense
(4)
   
     
     
(4,238,761
)
   
(4,238,761
)
Net loss
   
(552,098
)
   
(179,338
)
   
(6,006,526
)
   
(6,737,962
)
Total assets, net of depreciation and amortization:
                               
United States
  $
13,077,979
    $
27,228
    $
5,189,637
    $
18,294,844
 
International
   
26,055
     
     
1,328
     
27,383
 
Capital expenditures
   
     
     
     
 
 
 
(
1
)
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, other than those expenses directly incurred by MT.
 
(
2
)
Depreciation and amortization is reflected in selling, general and administrative expenses (
$36,779
and
$37,987
for the
three
-month periods ended
March 
31,
2019
and
2018,
respectively).
 
(
3
)
Loss from operations does
not
reflect the allocation of certain selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments, other than those expenses directly incurred by MT.
 
(
4
)
Amounts consist primarily of losses on debt extinguishment, interest income and interest expense, which are
not
currently allocated to our individual reportable segments.