XML 21 R10.htm IDEA: XBRL DOCUMENT

Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4. Intangible Assets

The following table summarizes the gross book value, accumulated amortization and net book value balances of intangible assets as of September 30, 2023 and December 31, 2022 (in thousands):

Schedule of Intangible Assets


	September 30, 2023						December 31, 2022
	Gross Book Value		Accumulated Amortization		Net Book Value		Gross Book Value		Accumulated Amortization		Net Book Value
Licensing Agreement⁽¹⁾	$	29,400	$	22,753	$	6,647	$	29,400	$	21,509	$	7,891
Trade names and trademarks		210		86		124		210		71		139
Customer relationships		240		98		142		240		80		160
Total intangible assets	$	29,850	$	22,937	$	6,913	$	29,850	$	21,660	$	8,190

⁽¹⁾

Prior to the acquisition, Enteris entered into a non-exclusive commercial license agreement (the “License Agreement”) with Cara Therapeutics, Inc. (“Cara”), for oral formulation rights to Enteris’ Peptelligence® technology to develop and commercialize Oral KORSUVA^TM in any indication worldwide, excluding South Korea and Japan. Cara is obligated to pay Enteris certain development, regulatory and tiered commercial milestone payments, as well as low single-digit royalties based on net sales in the licensed territory.

Amortization expense related to intangible assets was $0.4 million for both the three months ended September 30, 2023 and 2022, respectively. Amortization expense related to intangible assets was $1.3 million for both the nine months ended September 30, 2023 and 2022, respectively.

The estimated future amortization expense related to intangible assets as of September 30, 2023 is as follows (in thousands):

Fiscal Year	Amount
Remainder of 2023	$	426
2024		1,546
2025		1,076
2026		1,076
2027		1,076
Thereafter		1,713
Total	$	6,913