| Discontinued Operations |
| |
|
March 31,
2017
|
|
|
December 31, 2016 |
|
| Accounts and other receivables |
|
$ |
— |
|
|
$ |
1,598,994 |
|
| Inventory, net |
|
|
— |
|
|
|
1,374,618 |
|
| Prepaid expenses |
|
|
— |
|
|
|
170,635 |
|
| Assets associated with discontinued operations, current |
|
|
— |
|
|
|
3,144,247 |
|
| Property and equipment, net of accumulated depreciation |
|
|
— |
|
|
|
70,973 |
|
| Patents and trademarks, net of accumulated amortization |
|
|
— |
|
|
|
34,282 |
|
| Assets associated with discontinued operations, noncurrent |
|
|
— |
|
|
|
105,255 |
|
| Total assets associated with discontinued operations |
|
$ |
— |
|
|
$ |
3,249,502 |
|
| |
|
|
|
|
|
|
|
|
| Accounts payable |
|
$ |
152,108 |
|
|
$ |
1,957,938 |
|
| Accrued liabilities |
|
|
3,402,212 |
|
|
|
607,659 |
|
| Deferred revenue |
|
|
— |
|
|
|
2,300,000 |
|
| Liabilities associated with discontinued operations, current |
|
$ |
3,554,320 |
|
|
$ |
4,865,597 |
|
| |
|
Three Months Ended March 31, |
|
| |
|
2017 |
|
|
2016 |
|
| Revenue: |
|
|
|
|
|
|
| Lymphoseek sales revenue |
|
$ |
2,917,213 |
|
|
$ |
3,773,880 |
|
| Grant and other revenue |
|
|
— |
|
|
|
190 |
|
| Total revenue |
|
|
2,917,213 |
|
|
|
3,774,070 |
|
| Cost of goods sold |
|
|
364,192 |
|
|
|
533,440 |
|
| Gross profit |
|
|
2,553,021 |
|
|
|
3,240,630 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
| Research and development |
|
|
283,533 |
|
|
|
587,249 |
|
| Selling, general and administrative |
|
|
820,203 |
|
|
|
1,463,534 |
|
| Total operating expenses |
|
|
1,103,736 |
|
|
|
2,050,783 |
|
| Income from discontinued operations |
|
|
1,449,285 |
|
|
|
1,189,847 |
|
| Interest expense |
|
|
(1,718,506 |
) |
|
|
(2,194,280 |
) |
| Loss before income taxes |
|
|
(269,221 |
) |
|
|
(1,004,433 |
) |
| Benefit from income taxes |
|
|
13,360 |
|
|
|
— |
|
| Loss from discontinued operations |
|
$ |
(255,861 |
) |
|
$ |
(1,004,433 |
) |
|