Quarterly report pursuant to Section 13 or 15(d)

Intangible assets, net

v3.22.1
Intangible assets, net
9 Months Ended
Feb. 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets, net

Note 4. Intangible assets, net

Intangible assets were as follows:

​

​

​

​

​

​

​

​

(in thousands)

    

February 28, 2022

    

May 31, 2021

Leronlimab (PRO 140) patent

​

$

3,500

​

$

3,500

ProstaGene, LLC intangible asset acquisition, net of impairment

​

 

2,926

​

​

2,926

Website development costs

​

 

20

​

 

20

Gross carrying value

​

​

6,446

​

​

6,446

Accumulated amortization, net of impairment

​

 

(5,403)

​

 

(4,793)

Total intangible assets, net

​

$

1,043

​

$

1,653

​

Amortization expense related to intangible assets, all of which are classified as finite-lived, was $0.1 million and $0.7 million, and $0.5 million and $1.5 million for the three and nine months ended February 28, 2022 and 2021, respectively. The Company recognized an impairment charge of $10.0 million related to the ProstaGene, LLC intangible asset acquisition during the quarter ended February 28, 2021. Refer to Note 8, Acquisition of Patents and Intangibles, of the 2021 Form 10-K for further information.

The following table summarizes the estimated aggregate future amortization expense related to the Company’s intangible assets with finite lives as of February 28, 2022:

​

​

​

​

Fiscal Year (in thousands)

    

Amount

2022 (3 months remaining)

​

$

110

2023

​

​

217

2024

​

​

85

2025

​

​

85

Thereafter

​

​

546

Total

​

$

1,043

​