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Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

5.	Intangible Assets

The reconciliation of intangible assets for the years ended December 31, 2021 and 2020 (in thousands):

	Year Ended			Year Ended
	December 31,			December 31,
	2021			2020
Patented technologies
Gross carrying amount at beginning of period	$	68,322		$	68,322
Gross carrying amount at end of period		68,322			68,322
Accumulated amortization at beginning of period		(43,113	)		(40,653	)
Amortization expense		(2,460	)		(2,460	)
Accumulated amortization at end of period		(45,573	)		(43,113	)
Net book value at end of period	$	22,749		$	25,209

The net book value of the Company’s intangible assets at December 31, 2021 and 2020 is summarized as follows (in thousands):

					Estimated
					Remaining
					Useful Life at
	December 31,		December 31,		December 31,
	2021		2020		2021
					(Years)
Patented technologies
DEXYCU / Verisome	$	22,749	$	25,209		9.25
	$	22,749	$	25,209

The Company amortizes its intangible assets with finite lives on a straight-line basis over their respective estimated useful lives. Amortization expense totaled $2.5 million in each of the two years ended December 31, 2021 and 2020, respectively.

In connection with the Icon Acquisition, the initial purchase price of $32.0 million was attributed to the DEXYCU product intangible asset. This finite-lived intangible asset is being amortized on a straight-line basis over its expected remaining useful life of 9.25 years at the rate of approximately $2.5 million per year. Amortization expense was reported as a component of cost of sales for the years ended December 31, 2021 and 2020, respectively.