Intangible Asset

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Asset

(3)    Intangible Asset

Intangible asset consists of the historical acquisition cost of certain technology rights for VASCEPA. Upon approval by FDA on December 13, 2019 of a new indication of VASCEPA, a milestone for £5 million was achieved, which resulted in the Intangible asset increasing by $8.5 million. Refer to Note 9 — Equity for further discussion of the milestone payment. The Intangible asset has an estimated weighted-average remaining useful life of 9.6 years. The carrying value as of December 31, 2020 and 2019 is as follows:

In thousands	December 31, 2020			December 31, 2019
Technology rights	$	20,081		$	20,081
Accumulated amortization		(6,264	)		(4,823	)
Intangible asset, net	$	13,817		$	15,258

Amortization expense for the years ended December 31, 2020 and 2019 was $1.4 million and $0.7 million, respectively. Estimated future amortization expense, based upon the Company’s intangible asset, as of December 31, 2020 is as follows:

In thousands
Year Ending December 31,	Amount
2021	$	1,442
2022		1,442
2023		1,442
2024		1,442
2025		1,442
Thereafter		6,607
Total	$	13,817