Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.24.1
Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2023
Intangible Assets  
Summary of aggregate consideration transferred in connection with VYNE Product Acquisition

($ in thousands)

Aggregate Consideration Transferred

Consideration transferred to VYNE at closing

$

20,000

Fair value of deferred cash payment due January 2023

 

4,740

Transaction costs

223

Total consideration transferred at closing

$

24,963

Summary of assets acquired in VYNE Product Acquisition

($ in thousands)

    

Assets Recognized

Inventory

$

6,041

Identifiable intangibles:

Amzeeq

15,162

Zilxi

3,760

Fair value of net identifiable assets acquired

$

24,963

Schedule of Intangible Assets

Estimated Useful

Year Ended December 31, 

($ in thousands)

    

Lives (Years)

    

2023

    

2022

Intangible assets – product licenses

3 to 9

$

37,925

$

37,925

Accumulated amortization

 

  

 

(14,495)

 

(10,728)

Impairment loss

(3,143)

Net intangible assets

 

  

$

20,287

$

27,197

Schedule of future amortization of intangible assets

Total

($ in thousands)

    

Amortization

December 31, 2024

$

3,257

December 31, 2025

 

3,257

December 31, 2026

 

2,471

December 31, 2027

1,775

Thereafter

5,585

Sub-total

$

16,345

Asset not yet placed in service

3,942

Total

$

20,287