Annual report pursuant to Section 13 and 15(d)

Consolidated Financial Statements Details

v3.22.4
Consolidated Financial Statements Details
12 Months Ended
Dec. 31, 2022
Consolidated Financial Statements Detail  
Consolidated Financial Statements Detail

3. Consolidated Financial Statement Detail

Equity Securities

As of December 31, 2022 and 2021, equity securities consisted of an investment in Rezolute’s common stock of $0.3 million and $0.8 million, respectively (Note 4). For the years ended December 31, 2022 and 2021, the Company recognized a loss of $0.4 million and $0.9 million, respectively, due to the change in fair value of its investment in Rezolute’s common stock in the other income (expense), net line item of the consolidated statements of operations and comprehensive (loss) income.

Intangible assets, net

The following table summarizes cost, accumulated amortization, and net carrying value of the intangible assets as of December 31, 2022 (in thousands):

Accumulated

Net Carrying

Cost

Amortization

Value

As of December 31, 2022

Ebopiprant IP (Note 4)

$

15,247

$

97

$

15,150

Total intangible assets

$

15,247

$

97

$

15,150

The remaining life of the intangible assets is 16.9 years. The following table presents the projected amortization expense for the next five years (in thousands):

Intangible Asset

    

Amortization

 

2023

$

897

2024

 

897

2025

 

897

2026

897

2027

897

Total

$

4,485

Accrued and Other Liabilities

Accrued and other liabilities consisted of the following (in thousands):

December 31, 

December 31, 

    

2022

    

2021

Accrued payroll and benefits

 

1,449

 

135

Accrued legal and accounting fees

867

295

Accrued incentive compensation

562

55

Other accrued liabilities

40

40

Total

$

2,918

$

525