Quarterly report pursuant to Section 13 or 15(d)

Licenses Acquired

v3.20.1
Licenses Acquired
3 Months Ended
Mar. 31, 2020
Licenses Acquired  
Licenses Acquired

7. Licenses Acquired

In accordance with ASC 730-10-25-1, Research and Development, costs incurred in obtaining technology licenses are charged to research and development expense if the technology licensed has not reached technological feasibility and has no alternative future use. The licenses purchased by Fortress, Aevitas, Avenue, Cellvation, Checkpoint, Cyprium, Helocyte, Mustang and Baergic require substantial completion of research and development, and regulatory and marketing approval efforts in order to reach technological feasibility. As such, for the three months ended March 31, 2020 and 2019, the purchase price of licenses acquired was classified as research and development-licenses acquired in the Condensed Consolidated Statements of Operations as reflected in the table below:

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended March 31, 

($ in thousands)

    

2020

    

2019

Partner company:

 

 

  

 

 

  

Mustang

 

$

250

 

$

450

Total Research and Development – Licenses Acquired

 

$

250

 

$

450

 

Mustang

For the three months ended March 31, 2020 and 2019, Mustang recorded the following expense in research and development for licenses acquired:

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended March 31, 

($in thousands)

    

2020

    

2019

City of Hope (COH) – CD123 (MB-102)

 

$

 —

 

$

250

COH – HER2 (MB-103)1

 

 

250

 

 

 —

Nationwide Children’s Hospital – C134 (MB-108)

 

 

 —

 

 

200

Total

 

$

250

 

$

450

 

Note 1: Represents a non-refundable milestone payment in connection with the twentieth patient treated in the Phase 1 clinical study of MB-103 at COH.