Quarterly report pursuant to Section 13 or 15(d)

Intangible Asset License

v2.4.1.9
Intangible Asset License
 3 Months Ended
Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure
6. Intangible Asset License
 
Journey Medical Corporation
 
In March 2015, JMC entered into a license and supply agreement to acquire rights to distribute a dermatological product for the treatment of acne. JMC made an upfront payment of $1.2 million and will incur another fee of $0.7 million upon receipt of the product. Further payments will be made based on a revenue sharing arrangement.
 
We recorded the upfront payment as an intangible asset on the Condensed Consolidated Balance Sheets as of March 31, 2015 and will amortize it over the deemed life of the product or agreement, whichever is shorter, upon the commencement of sales, which we expect will commence in the fourth quarter of 2015.