Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Intangible Assets, Net

The gross carrying amounts and net book value of our intangible assets are as follows:

		December 31, 2021
	Useful Life (In Years)	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment Charges		Net Book Value
Ryanodex intangible	18.5	$	15,000	$	(5,079)	$	—	$	9,921
Developed technology	5	8,100		(8,100)		—		—
Vasopressin Milestone	1	750		—		—		750
Total		$	23,850	$	(13,179)	$	—	$	10,671

		December 31, 2020
	Useful Life (In Years)	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment Charge		Net Book Value
Ryanodex intangible	20	15,000		(3,500)		—		11,500
Developed technology	5	8,100		(6,683)		—		1,417
Total		$	23,100	$	(10,183)	$	—	$	12,917

Amortization expense amounted to $3.0 million, $2.7 million, and $2.5 million, for the year ended December 31, 2021, 2020, and 2019, respectively.

Estimated Useful Lives

The Company reviews the estimated useful lives of its intangible assets on a periodic basis. The review indicated that the actual life of the Ryanodex intangible asset was shorter than the estimated useful life used for amortization purposes in the Company’s financial statements. As a result, the estimated useful life of the Ryanodex related intangible assets was shortened from 2036 to 2025. The change in the estimated useful life is considered a change in accounting estimate and will result in changes to the Company's amortization expense prospectively. As of December 31, 2021, the net carrying value of the Ryanodex related intangible assets was $9.9 million. The effect of this change in estimate increased the 2021 amortization expense by $0.4 million.

Impairment Assessment

The Company reviews the recoverability of its finite-lived intangible assets and long-lived assets for indicators of impairments. Events or circumstances that may require an impairment assessment include negative clinical trial results, a significant decrease in the market price of the asset, or a significant adverse change in legal factors or the manner in which the asset is used. If such indicators are present, the Company assess the recoverability of affected assets by determining if the carrying value of such assets is less than the sum of the undiscounted future cash flows of the assets. If such assets are found to not be recoverable, the Company measures the amount of the impairment by comparing to the carrying value of the assets to the fair value of the assets. The Company determined that no indicators of impairment of finite-lived intangible assets or long-lived assets existed at December 31, 2021 and 2020.

Estimated Amortization Expense for Intangible Assets

Based on definite-lived intangible assets recorded as of December 31, 2021, and assuming that the underlying assets will not be impaired and that the Company will not change the expected lives of the assets, future amortization expenses are estimated as follows:

	Estimated Amortization Expense
Year Ending December 31,
2022	3,073
2023	2,785
2024	2,511
2025	2,302
All other	—
Total estimated amortization expense	$	10,671