Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The table below shows the weighted-average life, original cost, accumulated amortization and net book value by major intangible asset classification:

	Weighted-Average Life (Years)	Original Cost		Accumulated Amortization		Net Book Value
Definite-lived intangible assets
Distribution right	20	$	59,076	$	(13,761)	$	45,315
Capitalized software	2	9,555		(8,365)		1,190
Intangible assets, net		68,631		(22,126)		46,505
Indefinite-lived intangible asset
Goodwill	*	21,208		—		21,208
Total as of September 30, 2023		$	89,839	$	(22,126)	$	67,713

	Weighted-Average Life (Years)	Original Cost		Accumulated Amortization		Net Book Value
Definite-lived intangible assets
Distribution right	20	$	59,076	$	(11,545)	$	47,531
Capitalized software	2	8,636		(7,570)		1,066
Intangible assets, net		67,712		(19,115)		48,597
Indefinite-lived intangible asset
Goodwill	*	21,208		—		21,208
Total as of December 31, 2022		$	88,920	$	(19,115)	$	69,805

* Intangible assets with indefinite lives have an indeterminable average life.

The following table outlines the estimated future amortization expense related to intangible assets held as of September 30, 2023 that are subject to amortization:

Fiscal year
Remaining in 2023	$	1,113
2024	3,731
2025	2,996
2026	2,955
2027	2,955
Thereafter	32,755
	$	46,505

Distribution right represents the license and associated distribution right to develop Jeuveau®, the initial term of which expires in September 2023 and is automatically extended for unlimited additional three-year terms provided that the Company meets certain performance requirements. Additionally, upon FDA approval of Jeuveau® on February 1, 2019, the in-process research and development project was completed and reclassified as a definite-lived distribution right intangible asset, which is amortized on a straight-line basis over the estimated useful life of 20 years.

The Company capitalized $349 and $531 for the three months ended September 30, 2023 and 2022, respectively, and $919 and $938 for the nine months ended September 30, 2023 and 2022, respectively, related to costs of computer software developed for internal use. The software is amortized over a two-year period using the straight-line method. The Company recorded total intangible assets amortization expense of $1,053 and $838 for the three months ended September 30, 2023 and 2022, respectively, and $3,005 and $2,454 for the nine months ended September 30, 2023 and 2022, respectively, within depreciation and amortization on the accompanying condensed consolidated statements of operations and comprehensive loss.