On August 31, 2018, Journey entered into an agreement with

to acquire the exclusive rights to Exelderm®, an antifungal ointment. As of September 30, 2018, Journey recorded

as an intangible asset and will recognize expense over the expected life of Exelderm® of 3 years.

 

For the three months ended September 30, 2018 and 2017, Journey recognized amortization expense of approximately $0.2 million and $0.1 million, respectively, which was recorded in costs of goods sold in the Company’s Condensed Consolidated Statements of Operations. For the nine months ended September 30, 2018 and 2017, Journey recognized amortization expense of approximately $0.4 million and $0.4 million, respectively, which was recorded in costs of goods sold in the Company’s Condensed Consolidated Statements of Operations.

 

 

The carrying amount related to acquired intangible assets as of September 30, 2018 are as follows ($ in thousands):