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Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2020
Summary of Assets and Liabilities Held for Sale and Operating Results Related to Discontinued Operations

The following table summarizes the results of discontinued operations for the nine months ended September 30, 2019 (in thousands). Discontinued operations did not have an impact on the Company’s results of operations during the three months ended September 30, 2019, or the three and nine months ended September 30, 2020.

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2019

 

 

 

 

 

 

 

 

Product revenue

 

 

 

 

 

$

901

 

Cost of revenue

 

 

 

 

 

 

857

 

Gross profit

 

 

 

 

 

 

44

 

Operating expenses:

 

 

 

 

 

 

 

 

Research and development

 

 

 

 

 

 

656

 

Sales and marketing

 

 

 

 

 

 

411

 

General and administrative

 

 

 

 

 

 

185

 

Total operating expenses

 

 

 

 

 

 

1,252

 

Operating loss

 

 

 

 

 

 

(1,208

)

Other income (expense)

 

 

 

 

 

 

140

 

Loss from discontinued operations

 

 

 

 

 

$

(1,068

)

 

 

Included in the statements of cash flows are the following non-cash adjustments related to the discontinued operations (in thousands):

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

Depreciation and amortization

 

$

—

 

 

$

467

 
Discontinued Operations Disposed of By Sale [Member]  
Summary of Business Consideration to Calculation of the Loss on Sale The following table summarizes the calculation of the loss on the sale of the cell therapy business, which was finalized during the fourth quarter of 2019 (in thousands):

Consideration received

 

$

7,000

 

Transaction costs

 

 

(1,363

)

Net cash proceeds

 

 

5,637

 

Less:

 

 

 

 

Carrying value of business and assets sold

 

 

12,145

 

Net loss on sale of business

 

$

(6,508

)