License rights and other intangible assets, net

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

License rights and other intangible assets, net

6. License rights and other intangible assets, net

The following provides information about our license rights and other intangible assets, net (in thousands):

	March 31, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Intangible assets subject to amortization
License rights agreement	$	40,000	$	4,559	$	35,441	$	40,000	$	3,803	$	36,197
Hormone therapy drug patents		4,181		818		3,363		4,045		748		3,297
Hormone therapy drug patents applied and pending approval		1,857		—		1,857		1,628		—		1,628
		46,038		5,377		40,661		45,673		4,551		41,122
Intangible assets not subject to amortization Trademarks/trade name rights		333		—		333		323		—		323
	$	46,371	$	5,377	$	40,994	$	45,996	$	4,551	$	41,445

During the three months ended March 31, 2021 and 2020, we recorded $756 thousand and $746 thousand, respectively, in amortization expense related to an exclusive license agreement (the “Population Council License Agreement”) with Population Council to commercially manufacture and sell ANNOVERA in the U.S., which was recorded as a component of cost of sales. As of March 31, 2021 and December 31, 2020, respectively, we had a total of 79 patents, of which 40 were domestic, and a total of 77 patents, of which 38 were domestic. We recorded $70 thousand and $63 thousand of amortization expense related to patents for the three months ended March 31, 2021 and 2020, respectively.

We use a combination of qualitative and quantitative factors to assess intangible assets for impairment. As a result of performing these assessments, we determined that no impairment existed as of March 31, 2021 and, therefore, recorded no write-downs to any of our intangible assets.