Intangible Assets

3 Months Ended

Mar. 31, 2023

Intangible Assets

Intangible Assets

8. Intangible Assets

		As of March 31, 2023						As of December 31, 2022
	Estimated life (years)	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Capitalized Milestones	11	$	9,000	$	(1,331)	$	7,669	$	9,000	$	(1,117)	$	7,883

As of March 31, 2023, the Company’s finite-lived net intangible assets, which totaled $7,669 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, 2023, amortization expense for the next five years and beyond is summarized as follows:

2023	$	641
2024		855
2025		855
2026		855
2027		855
Thereafter		3,608
Total	$	7,669

Amortization expense totaled $214 and $130 for the three months ended March 31, 2023 and 2022, respectively Amortization expense is included in cost of sales in the condensed consolidated statements of operations and comprehensive loss.