Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Sale of products, net $ 7,811 $ 7,310 $ 22,988 $ 20,803
Cost of goods sold (exclusive of depreciation shown separately below):        
Products 7,362 6,948 21,306 19,953
Gross profit (loss) 449 362 1,682 850
Operating expenses:        
Sales, general and administrative 6,821 3,169 17,827 9,809
Impairment of intangible assets 0     146
Depreciation 173 160 461 473
Amortization 168 163 471 524
Total operating expenses 8,018 4,402 21,062 13,786
Operating loss (7,569) (4,040) (19,380) (12,936)
Other income (expense):        
Unrealized gain (loss) on investments (1,900) (429) (2,040) (562)
Impairment of Panacea investment       (1,062)
Gain on Panacea investment conversion     2,548  
Gain on the sale of property, plant and equipment       1
Interest income, net 52 270 272 1,344
Interest expense (23) (23) (44) (54)
Total other income (expense) (1,871) (181) 736 (333)
Loss before income taxes (9,440) (4,221) (18,644) (13,269)
Income taxes       38
Net loss (9,440) (4,221) (18,644) (13,307)
Other comprehensive income (loss):        
Unrealized gain (loss) on short-term investment securities (28) 87 (101) 132
Other comprehensive income (loss) (28) 87 (101) 132
Comprehensive loss $ (9,468) $ (4,134) $ (18,745) $ (13,175)
Net loss per common share - basic and diluted $ (0.06) $ (0.03) $ (0.12) $ (0.10)
Weighted average common shares outstanding - basic and diluted (in thousands) 162,721 138,857 153,998 138,774
Products Other Than Modified Risk Tobacco Products [Member]        
Operating expenses:        
Research and development $ 854 $ 906 $ 2,287 $ 2,676
Modified Risk Tobacco Product [Member]        
Operating expenses:        
Research and development $ 2 $ 4 $ 16 $ 158