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Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 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 periods presented (in thousands).

 

 

 

Year ended December 31,

 

 

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)

 

 

112

 

 

Loss from discontinued operations

 

$

(1,096

)

 

Loss from sale of business

 

 

(6,508

)

 

Net loss from discontinued operations

 

$

(7,604

)

 

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, 2019

 

Depreciation and amortization

 

$

467

 

Provision for excess inventory

 

$

—

 

Loss on asset disposal

 

$

—

 
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 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

)