Intangible Assets, Net

3 Months Ended

Mar. 31, 2022

Intangible Assets, Net

Intangible Assets, Net

6. Intangible Assets, Net

As of March 31, 2022, the Company’s finite-lived intangible assets, which totaled $8,527 resulted from the capitalization of certain milestone payments made to Ipsen Pharma, S.A.S., or Ipsen, in accordance with the terms of the Company’s license agreement with Ipsen, in connection with the Company’s first commercial sale of IMCIVREE in the U.S. in March 2021 and in France in March 2022.

As of March 31, 2022, amortization expense for the next five years and beyond is summarized as follows:

2022	$	641
2023		855
2024		855
2025		855
2026		855
Thereafter		4,466
Total	$	8,527

The Company began amortizing its finite-lived intangible assets in April 2021 over an 11 year period based on IMCIVREE’s expected patent exclusivity period. Amortization expense totaled $130 for the three months ended March 31, 2022.  Amortization expense is included in cost of sales on the consolidated statements of operations and comprehensive loss.