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Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2024

8. Goodwill and Intangible Assets

As of June 30, 2024 and December 31, 2023, the Company’s goodwill balance was $133,857. The Company’s goodwill resulted from the acquisition of BioDelivery Sciences International, Inc. (“BDSI”) on March 22, 2022 (the “BDSI Acquisition”).

The following table sets forth the cost, accumulated amortization, and carrying amount of intangible assets as of June 30, 2024 and December 31, 2023:


	June 30, 2024						December 31, 2023
		Cost		Accumulated Amortization		Carrying Amount		Cost		Accumulated Amortization		Carrying Amount
Belbuca	$	360,000	$	(171,517)	$	188,483	$	360,000	$	(133,821)	$	226,179
Nucynta Products		521,170		(410,400)		110,770		521,170		(382,710)		138,460
Symproic		70,000		(16,577)		53,423		70,000		(12,931)		57,069
Total intangible assets	$	951,170	$	(598,494)	$	352,676	$	951,170	$	(529,462)	$	421,708

The following table presents amortization expense recognized in cost of product revenues for the three and six months ended June 30, 2024 and 2023:


	Three Months Ended June 30,				Six Months Ended June 30,
		2024		2023		2024		2023
Belbuca	$	18,848	$	18,846	$	37,696	$	37,695
Nucynta Products		13,845		16,795		27,690		33,591
Symproic		1,822		1,822		3,646		3,643
Total amortization expense	$	34,515	$	37,463	$	69,032	$	74,929

As of June 30, 2024, the remaining amortization expense expected to be recognized is as follows:


Years ended December 31,	Belbuca		Nucynta Products		Symproic		Total
2024	$	37,697	$	27,694	$	3,639	$	69,030
2025		75,393		55,384		7,285		138,062
2026		75,393		27,692		7,285		110,370
2027		—		—		7,285		7,285
2028		—		—		7,285		7,285
Thereafter		—		—		20,644		20,644
Remaining amortization expense	$	188,483	$	110,770	$	53,423	$	352,676