Quarterly report pursuant to Section 13 or 15(d)

Acquisition of Patents and Intangibles (Tables)

v3.21.1
Acquisition of Patents and Intangibles (Tables)
9 Months Ended
Feb. 28, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of the Net Purchase Price and Allocation to the Acquired Assets

A summary of the net purchase price and allocation to the acquired assets is as follows (in thousands):

​

​

​

​

​

​

ProstaGene, LLC

CytoDyn Inc. equity

​

$

11,558

Acquisition expenses

​

 

741

Release of deferred tax asset

​

 

2,827

Total cost of acquisition

​

$

15,126

Intangible assets

​

$

15,126

Other

​

 

—

Allocation of acquisition costs

​

$

15,126

​

Intangible Assets Activity

The following table presents intangible assets as of February 28, 2021 and May 31, 2020, inclusive of patents (in thousands):

​

​

​

​

​

​

​

​

    

February 28, 2021

    

May 31, 2020

Leronlimab (PRO 140) patent

​

$

3,500

​

$

3,500

ProstaGene, LLC intangible asset acquisition, net of impairment

​

 

2,926

​

​

15,126

Website development costs

​

 

20

​

 

20

Gross carrying value

​

​

6,446

​

​

18,646

Accumulated amortization, net of impairment

​

 

(4,531)

​

 

(5,190)

Total amortizable intangible assets, net

​

 

1,915

​

 

13,456

Patents currently not amortized

​

 

—

​

 

—

Carrying value of intangibles, net

​

$

1,915

​

$

13,456

Summary The Estimated Aggregate Future Amortization Expense

​

​

​

​

Fiscal Year

    

Amount

2021 (3 months remaining)

​

$

262

2022

​

​

720

2023

​

​

217

2024

​

​

85

2025

​

​

85

Thereafter

​

​

546

Total

​

$

1,915