Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLES (Tables)

v3.21.2
INTANGIBLES (Tables)
9 Months Ended
Sep. 30, 2021
INTANGIBLES  
Schedule of intangible assets

    

Estimated Useful

    

    

    

($in thousands)

    

Lives (Years)

    

September 30, 2021

    

December 31, 2020

(Unaudited)

Ceracade®

3

$

300

$

300

Luxamend®

3

 

50

 

50

Targadox®

3

 

1,250

 

1,250

Ximino®

7

 

7,134

 

7,134

Exelderm®

3

 

1,600

 

1,600

Accutane

5

 

4,727

 

4,727

Anti-itch product (1)

3

 

3,942

 

3,945

Total intangible assets

 

19,003

 

19,006

Accumulated amortization

 

(5,960)

 

(3,977)

Net intangible assets

$

13,043

$

15,029

(1) As of September 30, 2021, this asset has not yet been placed in service, therefore no amortization expense was recognized on this asset for the three or nine months ended September 30, 2021. Commercial launch of this product is expected in the first half of 2022.
Schedule of intangible assets roll forward

    

Intangible

($in thousands)

Assets, Net

Beginning balance at January 1, 2021

$

15,029

Reductions:

 

  

Anti-itch Product license acquisition adjustment

 

(3)

Amortization expense

 

(1,983)

Ending balance at September 30, 2021

$

13,043

Schedule of future amortization of intangible assets

    

    

    

Total

($in thousands)

    

Ximino®

    

Accutane®

Amortization

Three months ending December 31, 2021

$

255

$

236

$

491

Year ended December 31, 2022

 

1,019

 

946

 

1,965

Year ended December 31, 2023

 

1,019

 

945

 

1,964

Year ended December 31, 2024

 

1,019

 

946

 

1,965

Year ended December 31, 2025

 

1,019

 

945

 

1,964

Thereafter

 

595

 

157

 

752

Sub-total

$

4,926

$

4,175

$

9,101

Assets not yet placed in service:

 

  

 

  

 

  

Anti-itch product license acquisition

 

 

 

3,942

Total

$

4,926

$

4,175

$

13,043