Annual report pursuant to Section 13 and 15(d)

Acquisition of Patents and Intangibles (Tables)

v3.21.2
Acquisition of Patents and Intangibles (Tables)
12 Months Ended
May 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Activity

The following presents intangible assets activity, inclusive of patents (in thousands):

    

May 31,

2021

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

 

(4,793)

 

(5,190)

Total amortizable intangible assets, net

$

1,653

$

13,456

Schedule of estimated future amortization expense

Fiscal Year

    

Amount

2022

$

669

2023

384

2024

85

2025

85

Thereafter

430

Total

$

1,653

Summary of 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