Intangible Asset

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Asset

Intangible Asset

Our intangible asset consists of worldwide development, commercialization and related intellectual property rights including patents and licenses for Fintepla, our first rare disease therapy approved for marketing in the U.S. and Europe.

The following table provides details of the carrying amount of our finite-lived intangible asset:

(In thousands)	June 30, 2021		December 31, 2020
Finite-lived intangible asset	$	102,500	$	102,500
Accumulated amortization	(7,885)		(3,942)
Total intangible asset, net	$	94,615	$	98,558

As of June 30, 2021 and December 31, 2020, the carrying value of the intangible asset will be amortized over its estimated remaining useful life of 12.0 years and 12.5 years, respectively. At June 30, 2021, the estimated amortization expense for each of the five succeeding years was approximately $7.9 million per year.