Quarterly report pursuant to Section 13 or 15(d)

Segments

v2.4.1.9
Segments
 3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Segments
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. Prior to 2015, our products and development programs were all related to diagnostic substances. Our majority-owned subsidiary, Macrophage Therapeutics, Inc., was formed and received initial funding during the first quarter of 2015, which resulted in a re-evaluation of the Company's segment determination. We now manage our business based on two primary types of drug products: (i) diagnostic substances, including Lymphoseek and our Manocept platform, our R-NAV subsidiary, NAV4694 and NAV5001, and (ii) therapeutic development programs, including all development programs undertaken by Macrophage Therapeutics, Inc.

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

($ amounts in thousands)
Three Months Ended March 31, 2015
Diagnostics
Therapeutics
Corporate
Total
Lymphoseek sales revenue:
 
 
 
 
   United States1
$
1,831

$
—

$
—

$
1,831

   International
6

—

—

6

Lymphoseek license revenue
83

—

—

83

Grant and other revenue
190

—

—

190

   Total revenue
2,108

—

—

2,108

Research and development expenses
3,895

86

—

3,981

Selling, general and administrative expenses,
   excluding depreciation and amortization2
2,042

14

3,324

5,380

Depreciation and amortization
72

—

78

150

Loss from operations3
(4,315
)
(100
)
(3,401
)
(7,816
)
Other income (expense), excluding
   equity in the loss of R-NAV, LLC4
—

—

787

787

Equity in the loss of R-NAV, LLC
—

—

(262
)
(262
)
Loss attributable to common stockholders
(4,315
)
(146
)
(2,876
)
(7,337
)
Total assets, net of depreciation and amortization:
 
 
 


   United States
3,334

7

7,078

10,419

   International
496

—

3

499

Capital expenditures
—

—

—

—


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 Loss from operations does not reflect the allocation of certain selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments.
4 Amounts consist primarily of interest income, interest expense and changes in fair value of financial instruments, which are not currently allocated to our individual reportable segments.