Goodwill and Intangible Assets

The table below shows the weighted-average life, original cost, accumulated amortization and net book value by major intangible asset classification:



	Weighted-Average Life (Years)	Original Cost		Accumulated Amortization			Net Book Value
Definite-lived intangible assets
Distribution right	20	$	59,076	$	(2,679	)	$	56,397
Capitalized software	2	4,415		(1,174		)	3,241
Intangible assets, net		63,491		(3,853		)	59,638
Indefinite-lived intangible asset
Goodwill	*	21,208		—			21,208
Total as of December 31, 2019		$	84,699	$	(3,853	)	$	80,846



	Weighted-Average Life (Years)	Original Cost		Accumulated Amortization		Net Book Value
Indefinite-lived intangible assets
IPR&D**	*	$	56,076	$	—	$	56,076
Goodwill	*	21,208		—		21,208
Total as of December 31, 2018		$	77,284	$	—	$	77,284

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* Intangible assets with indefinite lives have an indeterminable average life.

** IPR&D is presented as “intangible assets, net” in the accompanying balance sheets.

The following table outlines the estimated future amortization expense related to intangible assets held as of December 31, 2019 that are subject to amortization:



Fiscal year
2020	$	5,423
2021	3,729
2022	2,955
2023	2,955
2024	2,955
Thereafter	41,621
	$	59,638

In connection with the acquisition of the Company by SCH in 2013, the Company recorded goodwill of $21,208 and IPR&D of $56,076. The IPR&D recognized represents the license and associated distribution right to develop Jeuveau^®, the initial term of which expires in September 2023 and is automatically extended for unlimited additional three-year terms provided that the Company meets certain performance requirements. Additionally, pursuant to the Daewoong Agreement, up to $13,500 in additional cash consideration was due to Daewoong based upon the Company’s successful completion of certain technical and sales milestones. Upon FDA approval of Jeuveau^® on February 1, 2019, the Company paid Daewoong a $2,000 milestone payment which increased the cost basis of the IPR&D, and the IPR&D project was completed and reclassified as a definite-lived distribution right intangible asset, which is amortized on a straight-line basis over the estimated useful life of 20 years. In connection with EU approval of Jeuveau^®, the Company paid a $1,000 milestone payment to Daewoong in the fourth quarter of fiscal year 2019, which also increased the cost basis of the distribution right.

For the years ended December 31, 2019 and 2018, the Company capitalized $4,415 and $0, respectively, related to costs of computer software developed for internal use. The software is amortized over a two-year period using the straight-line method. For the years ended December 31, 2019 and 2018, total intangible assets amortization expense of $3,853 and $0 was recorded within depreciation and amortization on the accompanying statements of operations and comprehensive loss, respectively.