Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Asset

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

	December 31,
(In thousands)	2021		2020
Finite-lived intangible asset	$	102,500	$	102,500
Accumulated amortization	(11,827)		(3,942)
Net carrying value	$	90,673	$	98,558

Our intangible asset consists of worldwide development, commercialization and related intellectual property rights including patents and licenses for our product, Fintepla (fenfluramine), which at the time of our acquisition in October 2014 was classified as an indefinite-lived IPR&D asset. Upon FDA approval of Fintepla in June 2020, this indefinite-lived asset was reclassified to a finite-lived intangible asset subject to amortization.

In July 2020, we commercially launched Fintepla and commenced amortization of this asset on a straight-line basis over its estimated useful life. Due to the inherent subjectivity of forecasting the timing in which the cash flows may be generated from this intangible asset over a long-term time horizon, we concluded the pattern of economic benefit cannot be reliably determined. As such, we elected to use the straight-line method of amortization for this intangible asset over 13 years. As of December 31, 2021, the carrying value of the intangible asset will be amortized over its estimated remaining useful life of 11.5 years as follows:

(In thousands)	Amortization Expense
2022	$	7,885
2023	7,885
2024	7,885
2025	7,885
2026	7,885
Thereafter	51,248
Total	$	90,673