Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets

Goodwill and Intangible Assets

9. Goodwill and Intangible Assets

The following tables summarizes the changes in the carrying amount of Goodwill:

	Amount
Balance at December 31, 2021	$	—
Goodwill resulting from BDSI Acquisition		130,094
Balance at June 30, 2022	$	130,094

The Company’s goodwill resulted from the BDSI Acquisition. During the three months ended June 30, 2022, goodwill increased by $1,418 due to measurement period adjustments associated with the BDSI Acquisition. Refer to Note 4, Acquisitions.

The following table sets forth the cost, accumulated amortization, and carrying amount of intangible assets as of June 30, 2022 and December 31, 2021:

		As of June 30, 2022						As of December 31, 2021
	Amortization Period (Years)		Cost		Accumulated Amortization		Carrying Amount		Cost		Accumulated Amortization		Carrying Amount
Belbuca	4.8	$	360,000	$	(20,733)	$	339,267	$	—	$	—	$	—
Nucynta Products	8.0		521,170		(286,038)		235,132		521,170		(252,447)		268,723
Symproic	9.6		70,000		(2,003)		67,997		—		—		—
Elyxyb	14.2		5,000		(97)		4,903		—		—		—
Total intangibles		$	956,170	$	(308,871)	$	647,299	$	521,170	$	(252,447)	$	268,723

The following table presents amortization expense recognized in cost of product revenues for the three and six months ended June 30, 2022 and 2021:

	Three Months Ended June 30,				Six Months Ended June 30,
		2022		2021		2022		2021
Belbuca	$	18,796	$	—	$	20,733	$	—
Nucynta Products		16,796		16,795		33,591		33,590
Symproic		1,821		—		2,003		—
Elyxyb		88		—		97		—
Total amortization expense	$	37,501	$	16,795	$	56,424	$	33,590

As of June 30, 2022, the remaining amortization expense expected to be recognized is as follows:

Years ended December 31,	Belbuca		Nucynta Products		Symproic		Elyxyb		Total
2022	$	37,695	$	33,590	$	3,643	$	176	$	75,104
2023		75,393		67,181		7,285		352		150,211
2024		75,393		67,181		7,285		352		150,211
2025		75,393		67,180		7,285		352		150,210
2026		75,393		—		7,285		352		83,030
Thereafter		—		—		35,214		3,319		38,533
Remaining amortization expense	$	339,267	$	235,132	$	67,997	$	4,903	$	647,299