INTANGIBLE ASSETS AND GOODWILL (Tables)

4 Months Ended

Dec. 31, 2012

INTANGIBLE ASSETS AND GOODWILL [Abstract]

Summary of intangibles acquired

A summary of intangibles acquired is as follows (dollars in thousands):

	Useful Life	December 31,			August 31,
	(years)	2012			2012			2011
Intangible asset (IP license for RP103) related to the Encode merger	20	$	2,620		$	2,620		$	2,620
Intangible assets (out-license) related to the 2009 Merger	16		240			240			240
In-process research and development	N/A		0			0			900
Total intangible assets			2,860			2,860			3,760
Less accumulated amortization			(704	)		(655	)		(509	)
Intangible assets, net		$	2,156		$	2,205		$	3,251

Actual and estimated amortization expense for intangible assets

Amortization expense for intangible assets for each of the next five years is as follows:

Year ending December 31,	Amortization  expense
2013		146
2014		146
2015		146
2016		146
2017		146