Intangible Assets

12 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

5. Intangible Assets

The Company’s finite-lived intangible assets are stated at cost less accumulated amortization and include developed technology and trade name assets acquired in the asset acquisition discussed in Note 4 above, as well as capitalized patent costs. Developed technology and trade name assets are amortized over 15 years. Patent costs are amortized beginning at the time of patent approval over a useful life not exceeding 20 years. During the year ended June 30, 2020, the Company also incurred impairment charges of $4,206 related to patents within our product portfolio and pipeline that are no longer tied to current or future commercial activities from changes to the Company’s strategy brought on by the COVID-19 pandemic in addition to other factors.

The components of intangible assets, net are as follows:

	June 30, 2020						June 30, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Developed technology	$	15,624	$	(955)	$	14,669	$	—	$	—	$	—
Patents	1,882		(659)		1,223		6,093		(988)		5,105
Trade name	760		(46)		714		—		—		—
Total intangible assets, net	$	18,266	$	(1,660)	$	16,606	$	6,093	$	(988)	$	5,105

Amortization expense expected for the next five years and thereafter is as follows:

Fiscal 2021	$	1,216
Fiscal 2022	1,216
Fiscal 2023	1,212
Fiscal 2024	1,208
Fiscal 2025	1,205
Thereafter	10,549
	$	16,606