Acquisition of Bellwether Bio (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the total consideration to the estimated fair values of assets acquired and liabilities assumed:

	Amount
	(in thousands)
Cash	$	521
Identified intangible assets	6,700
Goodwill	3,289
Net liabilities assumed	(1,802		)
Total	$	8,708

Schedule of Intangible Assets Acquired

The following table presents details of the identified intangible assets acquired from the Bellwether Bio acquisition:

	Fair Value		Estimated Useful Life
	(in thousands)
Acquired license	$	5,100	10 years
IPR&D	1,600		*
Total	$	6,700

*

IPR&D assets are not subject to amortization.

Schedule of Intangible Assets and Goodwill

The following table presents other intangible assets - net:

		As of December 31, 2019
		(in thousands)
	Weighted Average Useful Life	Gross		Accumulated Depreciation		Net
Acquired license	9.5	$	5,100	$	373	$	4,727
Non-compete agreements	5.5	2,500		303		2,197
		$	7,600	676		$	6,924
IPR&D		$	1,600	—		$	1,600
Goodwill		3,290		—		3,290
Total intangible assets		$	12,490	$	676	$	11,814

Schedule of Future Amortization Expense

The following table summarizes estimated future amortization expense of finite-lived intangible assets—net:

Years	Amount
	(in thousands)
2020	$	928
2021	928
2022	928
2023	928
2024 and thereafter	3,212
Total	$	6,924