Quarterly report pursuant to Section 13 or 15(d)

Intangibles, net (Tables)

v3.19.3
Intangibles, net (Tables)
 9 Months Ended
Sep. 30, 2019
Intangibles, net  
Schedule of JMC intangible asset

The table below provides a summary of the Journey intangible assets as of September 30, 2019 and December 31, 2018, respectively:

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Useful

 

September 30, 

 

December 31, 

($ in thousands)

    

Lives (Years)

    

2019

    

2018

 

 

 

 

(Unaudited)

 

 

 

Intangible assets – asset purchases

 

3 to 7

 

$

9,934

 

$

2,800

Total

 

  

 

 

9,934

 

 

2,800

Accumulated amortization

 

  

 

 

(2,203)

 

 

(1,383)

Net intangible assets

 

  

 

$

7,731

 

$

1,417

 

Schedule of JMC recognized expense related to its product licenses

The table below provides a summary for the nine months ended September 30, 2019, of JMC 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

Beginning balance at January 1, 2019

 

$

1,417

Additions:

 

 

 

Purchase of Ximino(1)

 

 

7,134

Amortization expense

 

 

(820)

Ending balance at September 30, 2019

 

$

7,731

 

Note 1: Includes four payments of $7.0 million due in consecutive years commencing on the second anniversary of the execution of the APA.  Such payments were discounted by $2.3 million as a result of the long-term nature of such payments.

Schedule of future amortization of intangible assets

The future amortization of these intangible assets is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

($ in thousands)

    

Exelderm®

    

Ximino®

    

Amortization

For the three-months ending December 31, 2019

 

$

100

 

$

255

 

$

355

Year Ended December 31, 2020

 

 

400

 

 

1,019

 

 

1,419

Year Ended December 31, 2021

 

 

267

 

 

1,019

 

 

1,286

Year Ended December 31, 2022

 

 

 —

 

 

1,019

 

 

1,019

Year Ended December 31, 2023

 

 

 —

 

 

1,019

 

 

1,019

Thereafter

 

 

 —

 

 

2,633

 

 

2,633

Total

 

$

767

 

$

6,964

 

$

7,731