Patents net

12 Months Ended

Jun. 30, 2023

Patents net

Patents, Net

5. Patents, net

Patents, net consisted of the following (rounded to nearest thousand):

	Useful life (years)		June 30, 2023			June 30, 2022
Purchased Patent Rights- Brilacidin and related compounds		14	$	4,082,000		$	4,082,000
Purchased Patent Rights-Anti-microbial- surfactants and related compounds		12		144,000			144,000
Patents - Kevetrin and related compounds		17		1,206,000			1,146,000
Total patents cost				5,432,000			5,372,000
Less: Accumulated amortization				(3,433,000	)		(3,060,000	)
Patents, net			$	1,999,000		$	2,312,000

The patents are amortized on a straight-line basis over the useful lives of the assets, determined to be 12-17 years from the date of acquisition.

Amortization expense for the years ended June 30, 2023 and 2022 was approximately $373,000 and $382,000, respectively. The Company wrote off the patent costs relating to Kevetrin of approximately $141,000 during the fourth quarter of 2022 due to discontinuation of its Kevetrin program.

At June 30, 2023, the future amortization period for all patents was approximately 2.18 years to 16.75 years. Future estimated amortization expenses are approximately $372,000 for each year from 2024 to 2025, $362,000 for the year ending June 30, 2026, $360,000 for the year ending June 30, 2027 and a total of $533,000 for the year ending June 30, 2028 and thereafter.