Fortress Biotech, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangibles, net

Intangibles, net

6 Months Ended

Jun. 30, 2020

9. Intangibles, net

The table below provides a summary of the Journey intangible assets as of June 30, 2020 and December 31, 2019, respectively:


	Estimated Useful	June 30,		December 31,
($ in thousands)	Lives (Years)	2020		2019
		(Unaudited)
Total Intangible assets – asset purchases	3 to 7	$	9,934	$	9,934
Accumulated amortization			(3,267)		(2,557)
Net intangible assets		$	6,667	$	7,377

The table below provides a summary for the six months ended June 30, 2020, of Journey’s 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, Net
Beginning balance at January 1, 2020	$	7,377
Amortization expense		(710)
Ending balance at June 30, 2020	$	6,667

The future amortization of these intangible assets is as follows:


					Total
($ in thousands)	Ximino®		Exelderm®		Amortization
Six Months Ended December 31, 2020	$	509	$	200	$	709
Year Ended December 31, 2021		1,019		267		1,286
Year Ended December 31, 2022		1,019		—		1,019
Year Ended December 31, 2023		1,019		—		1,019
Year Ended December 31, 2024		1,019		—		1,019
Thereafter		1,615		—		1,615
Total	$	6,200	$	467	$	6,667