Quarterly report pursuant to Section 13 or 15(d)

Acquisition of Patents and Intangibles (Tables)

v3.20.2
Acquisition of Patents and Intangibles (Tables)
3 Months Ended
Aug. 31, 2020
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 presents intangible assets activity, inclusive of patents (in thousands):
 
     August 31, 2020      May 31, 2020  
Leronlimab (PRO 140) patent
   $ 3,500      $ 3,500  
ProstaGene, LLC intangible asset acquisition
     15,126        15,126  
Website development costs
     20        20  
Accumulated amortization
     (5,687      (5,190
  
 
 
    
 
 
 
Total amortizable intangible assets, net
     12,959        13,456  
Patents currently not amortized
     —          —    
  
 
 
    
 
 
 
Carrying value of intangibles, net
   $ 12,959      $ 13,456