Industry Segments |
3 Months Ended |
|---|---|
Dec. 31, 2021 | |
| Industry Segments [Abstract] | |
| Industry Segments | Note 15 – Industry Segments The Company currently operates in two reporting segments: FC2 and Pharmaceuticals. The FC2 segment consists of the Company’s commercial product, FC2. The Pharmaceuticals segment includes activities related to multiple drug products under clinical development and ENTADFI™, a new treatment for benign prostatic hyperplasia that was approved by the FDA in December 2021. There are no significant inter-segment sales. We evaluate the performance of each segment based on operating profit or loss. There is no inter-segment allocation of non-operating expenses and income taxes. Our chief operating decision-maker (CODM) is Mitchell S. Steiner, M.D., our Chairman, President and Chief Executive Officer. The Company's operating (loss) income by segment was as follows: Three Months Ended December 31, 2021 2020 FC2*$ 10,858,751 $ 9,914,936Pharmaceuticals (11,648,249) (5,858,837)Corporate (4,172,787) 15,131,058Operating (loss) income$ (4,962,285) $ 19,187,157*The FC2 segment, previously referred to as the Sexual Health Business segment, for the three months ended December 31, 2020 included $415,000 related to the PREBOOST® business before the sale in December 2020. All of our net revenues, which are primarily derived from the sale of FC2, are attributed to the FC2 reporting segment. See Note 4 for additional information regarding our net revenues. Costs related to the office located in London, England are fully dedicated to FC2 and are presented as a component of the FC2 segment. Drug commercialization costs are included in the Pharmaceuticals segment. Certain expenses in the three months ended December 31, 2020 have been reclassified to conform to the current period presentation. The gain on sale of the PREBOOST® business and depreciation and amortization related to long-lived assets that are not utilized in the production of FC2 are not reported as part of the reporting segments or reviewed by the CODM. These amounts are included in Corporate in the reconciliations above. Total assets are not presented by reporting segment as they are not reviewed by the CODM when evaluating the reporting segments’ performance. |