Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]


	December 31, 2020						December 31, 2019
	Gross carrying amount		Accumulated amortization and impairment		Net		Gross carrying amount		Accumulated amortization and impairment		Net
(In thousands)
Utrophin program acquired	$	4,534	$	(4,534)	$	—	$	4,379	$	(4,379)	$	—
Discuva platform acquired	14,565		(3,050)		11,515		14,070		(1,972)		12,098
Option over non-financial asset	921		(921)		—		881		(119)		762
Other patents and licenses	150		(150)		—		432		(172)		260
	$	20,170	$	(8,655)	$	11,515	$	19,762	$	(6,642)	$	13,120

During the year ended December 31, 2020, management identified an impairment related to the option over non-financial asset pursuant to an Evaluation and Option Agreement with a collaboration partner. The partner is no longer conducting antibiotic candidate programs over which the Company had the option, management therefore determined that the fair value of the option to acquire the assignment of the proprietary rights for antibiotic candidates is $nil. Accordingly, the asset was written off in its entirety resulting in an impairment charge of $0.9 million.

As discussed in note 11, management concluded that the Company's decision in June 2018 to discontinue development of ezutromid was an indication of both goodwill and intangible asset impairment and hence reviewed the assets associated with the acquisition of MuOx Limited which related to the utrophin program acquired. Based on this review, an intangible asset impairment charge of $4.4 million related to the utrophin program acquired was recognized during the year ended January 31, 2019. Following this impairment charge, there was no remaining net book value associated with the Utrophin program.

Amortization expense was $1.3 million, $1.0 million and $1.1 million, for the periods ending December 31, 2020, December 31, 2019 and January 31, 2019, respectively.

Estimated future amortization expense related to intangible assets held at December 31, 2020 and 2019 is $1.0 million for each of the years from 2021 to 2025.