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Discontinued Operations | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2019 | Dec. 31, 2018
Discontinued Operations And Disposal Groups [Abstract] |  |
Discontinued Operations |
4. | Discontinued Operations
As explained in Note 1, on April 24, 2019 and April 25, 2019, the Company completed the sale of its cell therapy business to Lorem and Mr. Shirahama. The following table summarizes the calculation of the loss on sale of the cell therapy business, which will be finalized during the fourth quarter of 2019 (in thousands):
Consideration received |  | $ | 7,000 |
Transaction costs |  |  | (1,161 | )
Net cash proceeds |  |  | 5,839 |
Less: |  |  |  |
Carrying value of business and assets sold |  |  | 12,145 |
Net loss on sale of business |  | $ | 6,306 |
Assets and liabilities related to discontinued operations or held for sale consisted of the following:
|  | March 31, 2019 |  |  | December 31, 2018 |
Assets |  |  |  |  |  |  |  |
Current assets held for sale: |  |  |  |  |  |  |  |
Accounts receivable, net |  | $ | 202 |  |  | $ | 108 |
Inventory, net |  |  | 2,896 |  |  |  | 2,841 |
Other current assets |  |  | 356 |  |  |  | 328 |
Long-term assets held for sale: |  |  |  |  |  |  |  |
Property and equipment, net |  |  | 223 |  |  |  | 260 |
Operating lease right-of-use assets |  |  | 1,030 |  |  |  | — |
Other noncurrent assets |  |  | 1,787 |  |  |  | 1,866 |
Goodwill |  |  | 3,550 |  |  |  | 3,550 |
Intangible assets, net |  |  | 5,645 |  |  |  | 5,957 |
Total assets |  | $ | 15,689 |  |  | $ | 14,910 |
Liabilities |  |  |  |  |  |  |  |
Current liabilities held for sale: |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 495 |  |  | $ | 580 |
Operating lease liabilities |  |  | 355 |  |  |  | — |
Noncurrent liabilities held for sale: |  |  |  |  |  |  |  |
Other noncurrent liabilities |  |  | 70 |  |  |  | 78 |
Operating lease liabilities |  |  | 740 |  |  |  | — |
Deferred revenues |  |  | 142 |  |  |  | 167 |
Total liabilities held for sale |  | $ | 1,802 |  |  | $ | 825 |
The following table summarizes the results of discontinued operations for the periods presented (in thousands):
|  | Three months ended March 31, |
|  | 2019 |  |  | 2018 |
Product revenue |  | $ | 703 |  |  | $ | 731 |
Cost of revenues |  |  | 659 |  |  |  | 579 |
Gross profit |  |  | 44 |  |  |  | 152 |
Operating expenses: |  |  |  |  |  |  |  |
Research and development |  |  | 420 |  |  |  | 1,104 |
Sales and marketing |  |  | 314 |  |  |  | 384 |
General and administrative |  |  | 145 |  |  |  | 146 |
Total operating expenses |  |  | 879 |  |  |  | 1,634 |
Operating loss |  |  | (835 | ) |  |  | (1,482 | )
Other income (expense) |  |  | 149 |  |  |  | 352 |
Loss from discontinued operations |  | $ | (686 | ) |  | $ | (1,130 | )
During the three and six months ended June 30, 2019 and 2018, revenues from discontinued operations were related to the cell therapy business. Because of the sale of the cell therapy business to Lorem and Mr. Shirahama, all product revenues and costs of product revenues for these periods have been removed from the consolidated statements of operations. Included in the statement of cash flows are the following non-cash adjustments related to the discontinued operations (in thousands):
|  | For the three months ended March 31, |
|  | 2019 |  |  | 2018 |
Depreciation and amortization |  | $ | 344 |  |  | $ | 393 |
Provision for excess inventory |  | $ | — |  |  | $ | 326 |
Loss on asset disposal |  | $ | — |  |  | $ | 22 |
3. | Discontinued Operations
As explained in Note 1, on April 24, 2019 and April 25, 2019, the Company completed the sale of its cell therapy business to Lorem and Mr. Shirahama. The following table summarizes the calculation of the loss on sale of the cell therapy business, which will be finalized during the fourth quarter of 2019 (in thousands):
Consideration received |  | $ | 7,000 |
Transaction costs |  |  | (1,161 | )
Net cash proceeds |  |  | 5,839 |
Less: |  |  |  |
Carrying value of business and assets sold |  |  | 12,145 |
Net loss on sale of business |  | $ | 6,306 |
Assets and liabilities related to discontinued operations or held for sale consisted of the following:
|  | December 31, 2018 |  |  | December 31, 2017 |
Assets |  |  |  |  |  |  |  |
Current assets held for sale: |  |  |  |  |  |  |  |
Accounts receivable, net |  | $ | 108 |  |  | $ | 15 |
Inventory, net |  |  | 2,841 |  |  |  | 3,076 |
Other current assets |  |  | 328 |  |  |  | 531 |
Long-term assets held for sale: |  |  |  |  |  |  |  |
Property and equipment, net |  |  | 260 |  |  |  | 727 |
Other noncurrent assets |  |  | 1,866 |  |  |  | 2,528 |
Goodwill |  |  | 3,550 |  |  |  | 3,550 |
Intangible assets, net |  |  | 5,957 |  |  |  | 7,207 |
Total assets |  | $ | 14,910 |  |  | $ | 17,634 |
Liabilities |  |  |  |  |  |  |  |
Current liabilities held for sale: |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 580 |  |  | $ | 584 |
Noncurrent liabilities held for sale: |  |  |  |  |  |  |  |
Other noncurrent liabilities |  |  | 78 |  |  |  | 107 |
Deferred revenues |  |  | 167 |  |  |  | 94 |
Total liabilities held for sale |  | $ | 825 |  |  | $ | 785 |
The following table summarizes the results of discontinued operations for the periods presented (in thousands):
|  | Year ended December 31, |
|  | 2018 |  |  | 2017 |
Product revenue |  | $ | 2,671 |  |  | $ | 2,689 |
License revenue |  |  | 1,000 |  |  |  | — |
Total revenues |  |  | 3,671 |  |  |  | 2,689 |
Cost of revenues |  |  | 2,373 |  |  |  | 2,543 |
Gross profit |  |  | 1,298 |  |  |  | 146 |
Operating expenses: |  |  |  |  |  |  |  |
Research and development |  |  | 3,099 |  |  |  | 6,605 |
Sales and marketing |  |  | 1,375 |  |  |  | 2,252 |
General and administrative |  |  | 760 |  |  |  | 894 |
Total operating expenses |  |  | 5,234 |  |  |  | 9,751 |
Operating loss |  |  | (3,936 | ) |  |  | (9,605 | )
Other income (expense) |  |  | 180 |  |  |  | 13 |
Loss from discontinued operations |  | $ | (3,756 | ) |  | $ | (9,592 | )
During year ended December 31, 2018 and 2017, revenues from discontinued operations were related to the cell therapy business. Because of the sale of the cell therapy business to Lorem and Mr. Shirahama, all product revenues and costs of product revenues for these periods have been removed from the consolidated statements of operations. Included in the statement of cash flows are the following non-cash adjustments related to the discontinued operations (in thousands):
|  | For the year ended December 31, |
|  | 2018 |  |  | 2017 |
Depreciation and amortization |  | $ | 1,625 |  |  | $ | 1,630 |
Provision for excess inventory |  | $ | 463 |  |  | $ | 340 |
(Loss) gain on asset disposal |  | $ | (36 | ) |  | $ | 40 |
The changes in the carrying amounts of finite-life intangible assets related to our discontinued operations for the years ended December 31, 2018 and 2017 are as follows (in thousands):
|  | December 31, 2018 |  |  | December 31, 2017 |
Intangibles, net: |  |  |  |  |  |  |  |
Beginning balance |  | $ | 7,207 |  |  | $ | 8,447 |
Increase |  |  | — |  |  |  | — |
Amortization |  |  | (1,250 | ) |  |  | (1,240 | )
Ending balance |  | $ | 5,957 |  |  | $ | 7,207 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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