Quarterly report pursuant to Section 13 or 15(d)

Note 15 - Segments

v3.21.1
Note 15 - Segments
 3 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
15.
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
Tc99m
tilmanocept and other diagnostic applications of our Manocept platform, and (ii) therapeutic development programs, including therapeutic applications of our Manocept platform.
 
The information in the following tables is derived directly from each reportable segment's financial reporting.
 
Three Months Ended March 31, 2021
  
Diagnostics
    
Therapeutics
    
Corporate
    
Total
  
License revenue
   $
22,486
     $
—
     $
—
     $
22,486
  
Grant and other revenue
    
101,251
      
—
      
—
      
101,251
  
Total revenue
    
123,737
      
—
      
—
      
123,737
  
Cost of revenue
    
—
      
—
      
—
      
—
  
Research and development expenses
    
1,094,390
      
128,364
      
—
      
1,222,754
  
Selling, general and administrative expenses, excluding depreciation and amortization
(1)
    
—
      
2,006
      
2,210,991
      
2,212,997
  
Depreciation and amortization
(2)
    
6,040
      
—
      
11,708
      
17,748
  
Loss from operations
(3)
    
(976,693
)
    
(130,370
)
    
(2,222,699
)
    
(3,329,762
)
Other income
(4)
    
—
      
—
      
362,870
      
362,870
  
Net loss
    
(976,693
)
    
(130,370
)
    
(1,859,829
)
    
(2,966,892
)
Total assets, net of depreciation and amortization:
                                
United States
   $
160,669
     $
—
     $
9,723,212
     $
9,883,881
  
International
    
193,194
      
—
      
—
      
193,194
  
Capital expenditures
    
—
      
—
      
—
      
—
  
 
Three Months Ended March 31, 2020
  
Diagnostics
    
Therapeutics
    
Corporate
    
Total
  
Royalty revenue
   $
15,221
     $
—
     $
—
     $
15,221
  
Grant and other revenue
    
58,916
      
82,135
      
—
      
141,051
  
Total revenue
    
74,137
      
82,135
      
—
      
156,272
  
Cost of revenue
    
609
      
—
      
—
      
609
  
Research and development expenses
    
957,626
      
41,643
      
—
      
999,269
  
Selling, general and administrative expenses, excluding depreciation and amortization
(1)
    
—
      
(1,522
)
    
1,812,433
      
1,810,911
  
Depreciation and amortization
(2)
    
—
      
—
      
16,843
      
16,843
  
(Loss) income from operations
(3)
    
(884,098
)
    
42,014
      
(1,829,276
)
    
(2,671,360
)
Other expense
(4)
    
—
      
—
      
(2,248
)
    
(2,248
)
Net loss
    
(884,098
)
    
42,014
      
(1,831,524
)
    
(2,673,608
)
Total assets, net of depreciation and amortization:
                                
United States
   $
36,671
     $
2,494
     $
4,438,066
     $
4,477,231
  
International
    
—
      
—
      
—
      
—
  
Capital expenditures
    
—
      
—
      
6,459
      
6,459
  
 
 
(
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 Navidea Europe, Navidea UK and MT.
 
(
2
)
Depreciation and amortization are reflected in selling, general and administrative expenses (
$17,748
and
$16,843
for the
three
-month periods ended
March 31, 2021
and
2020,
respectively).
 
(
3
)
Income (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 Navidea Europe, Navidea UK and MT.
 
(
4
)
Amounts consist primarily of interest income and interest expense, which are
not
currently allocated to our individual reportable segments.