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