Quarterly report pursuant to Section 13 or 15(d)

Intangibles, net (Tables)

v3.23.3
Intangibles, net (Tables)
9 Months Ended
Sep. 30, 2023
Intangibles, net  
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 JMC recognized expense related to its product licenses

​

​

​

​

​

​

​

​

​

​

​

​

Estimated Useful

​

​

​

​

($ in thousands)

    

Lives (Years)

    

September 30, 2023

    

December 31, 2022

​

​

​

​

​

​

​

​

Intangible assets – product licenses

​

3 to 9

​

$

37,925

​

$

37,925

Accumulated amortization

 

  

​

 

(13,680)

​

 

(10,728)

Impairment loss

​

​

​

​

(3,143)

​

​

—

Net intangible assets

 

  

​

$

21,102

​

$

27,197

Schedule of future amortization of intangible assets

​

​

​

​

​

​

​

Total

($ in thousands)

    

Amortization

Three months ended December 31, 2023

​

$

813

December 31, 2024

​

​

3,258

December 31, 2025

​

 

3,258

December 31, 2026

​

 

2,470

December 31, 2027

​

​

1,775

Thereafter

​

​

5,586

Sub-total

​

$

17,160

Asset not yet placed in service

​

​

3,942

Total

​

$

21,102

​