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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill Goodwill is measured as the excess of the cost of the acquisition over the sum of the amounts assigned to tangible and identifiable intangible assets acquired less liabilities assumed. The Company assigns assets acquired (including goodwill) and liabilities assumed to one or more reporting units as of the date of acquisition. Typically acquisitions related to a single reporting unit do not require the allocation of goodwill to multiple reporting units. If the products obtained in an acquisition are assigned to multiple reporting units, the goodwill is distributed to the respective reporting units as part of the purchase price allocation process. Goodwill and purchased intangible assets are reviewed for impairment annually during the fourth quarter of each fiscal year and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The process of evaluating the potential impairment of goodwill and intangible assets requires significant judgment. The Company regularly monitors current business conditions and other factors including, but not limited to, adverse industry or economic trends and lower projections of profitability that may impact future operating results. The Company’s annual evaluation for impairment of goodwill consists of one reporting unit. In accordance with the Company’s policy, the Company completed its annual evaluation for impairment in the fourth quarter of 2021 using the qualitative assessment. No impairment charge was recognized for the year ended December 31, 2021 and there have been no cumulative goodwill impairment charges recognized to date. As of December 31, 2021 and 2020, goodwill was $2,009 and $2,030, respectively and represents goodwill recognized from the acquisition of Discuva Limited in December of 2017. Changes year over year are the result of foreign currency movements. Intangible Assets Components of the Company's acquired intangible assets are comprised of the following:
|  | December 31, 2021
|  | Gross |  | Accumulated amortization and impairment charges |  | Net
Utrophin program acquired |  | $ | 4,487 |  |  | $ | (4,487) |  |  | $ | — |
Discuva platform acquired |  | 14,416 |  |  | (4,017) |  |  | 10,399 |
Option over non-financial asset |  | 912 |  |  | (912) |  |  | — |
Other patents and licenses |  | 148 |  |  | (148) |  |  | — |
|  | $ | 19,963 |  |  | $ | (9,564) |  |  | $ | 10,399 |
|  | December 31, 2020
|  | Gross |  | Accumulated amortization and impairment charges |  | Net
Utrophin program acquired |  | $ | 4,534 |  |  | $ | (4,534) |  |  | $ | — |
Discuva platform acquired |  | 14,565 |  |  | (3,050) |  |  | 11,515 |
Option over non-financial asset(1) |  | 921 |  |  | (921) |  |  | — |
Other patents and licenses |  | 150 |  |  | (150) |  |  | — |
|  | $ | 20,170 |  |  | $ | (8,655) |  |  | $ | 11,515 |
(1)During the year ended December 31, 2020, management identified an impairment related to the option over non-financial asset pursuant to an Evaluation and Option Agreement with a collaboration partner. The partner is no longer conducting antibiotic candidate programs over which the Company had the option, management therefore determined that the fair value of the option to acquire the assignment of the proprietary rights for antibiotic candidates is $0. Accordingly, the asset was written off in its entirety resulting in an impairment charge of $859 recognized in operating expenses. Amortization expense was $1,017 and $1,250 for the years ended December 31, 2021 and 2020, respectively. The weighted-average remaining life at December 31, 2021 for our Discuva platform intangible asset was approximately 10.4 years. The estimated net amortization expense related to acquired intangible assets for future years is:
|  | Amount
2022 |  | $ | 999 |
2023 |  | $ | 999 |
2024 |  | $ | 999 |
2025 |  | $ | 999 |
2026 |  | $ | 999 |
Thereafter |  | $ | 5,404 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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