Quarterly report pursuant to Section 13 or 15(d)

Intangibles, net

v3.20.2
Intangibles, net
6 Months Ended
Jun. 30, 2020
Intangibles, net  
Intangibles, net

9. Intangibles, net

The table below provides a summary of the Journey intangible assets as of June 30, 2020 and December 31, 2019, respectively:

Estimated Useful

June 30, 

December 31, 

($ in thousands)

    

Lives (Years)

    

2020

    

2019

(Unaudited)

Total Intangible assets – asset purchases

3 to 7

$

9,934

$

9,934

Accumulated amortization

 

  

 

(3,267)

 

(2,557)

Net intangible assets

 

  

$

6,667

$

7,377

The table below provides a summary for the six months ended June 30, 2020, of Journey’s recognized expense related to its product licenses, which was recorded in costs of goods sold on the Condensed Consolidated Statement of Operations:

Intangible

($ in thousands)

    

Assets, Net

Beginning balance at January 1, 2020

$

7,377

Amortization expense

 

(710)

Ending balance at June 30, 2020

$

6,667

The future amortization of these intangible assets is as follows:

Total

($ in thousands)

    

Ximino®

    

Exelderm®

    

Amortization

Six Months Ended December 31, 2020

$

509

$

200

$

709

Year Ended December 31, 2021

 

1,019

 

267

 

1,286

Year Ended December 31, 2022

1,019

1,019

Year Ended December 31, 2023

1,019

1,019

Year Ended December 31, 2024

 

1,019

 

 

1,019

Thereafter

1,615

1,615

Total

$

6,200

$

467

$

6,667