Quarterly report pursuant to Section 13 or 15(d)

Intangibles, net

v3.21.1
Intangibles, net
3 Months Ended
Mar. 31, 2021
Intangibles, net  
Intangibles, net

8. Intangibles, net

The table below provides a summary of the Journey intangible assets as of March 31, 2021 and December 31, 2020, respectively:

Estimated Useful

($ in thousands)

    

Lives (Years)

    

March 31, 2021

    

December 31, 2020

(Unaudited)

Total Intangible assets – asset purchases

3 to 7

$

19,003

$

18,606

Accumulated amortization

 

  

 

(4,561)

 

(3,977)

Net intangible assets

 

  

$

14,442

$

14,629

The table below provides a summary for the three months ended March 31, 2021, 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, 2021

$

14,629

Additions:

Exelderm milestone

397

Amortization expense

 

(584)

Ending balance at March 31, 2021

$

14,442

The future amortization of these intangible assets is as follows:

Total

($ in thousands)

    

Ximino®

    

Exelderm®

    

Accutane®

    

Amortization

Nine Months Ended December 31, 2021

$

764

$

417

$

709

$

1,890

Year Ended December 31, 2022

 

1,019

 

 

946

 

1,965

Year Ended December 31, 2023

1,019

945

1,964

Year Ended December 31, 2024

1,019

946

1,965

Year Ended December 31, 2025

 

1,019

 

 

945

 

1,964

Thereafter

595

158

753

Sub-total

$

5,435

$

417

$

4,649

$

10,501

Assets not yet placed in service:

Anti-itch product license acquisition (amortization commencing second half of 2021)

3,941

Total

$

5,435

$

417

$

4,649

$

14,442