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Intangible Asset

12 Months Ended

Dec. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

(3) Intangible Asset

Intangible asset consists of the historical acquisition cost of certain technology rights for Vascepa. Upon approval by FDA on December 13, 2019 of a new indication of Vascepa, a milestone for £5 million was achieved, which resulted in the Intangible asset increasing by $8.5 million. Refer to Note 9 — Equity for further discussion of the milestone payment. The Intangible asset has an estimated weighted-average remaining useful life of 10.6 years. The carrying value as of December 31, 2019 and 2018 is as follows:

In thousands	December 31, 2019			December 31, 2018
Technology rights	$	20,081		$	11,624
Accumulated amortization		(4,823	)		(4,144	)
Intangible asset, net	$	15,258		$	7,480

Amortization expense for the years ended December 31, 2019 and 2018 was $0.7 million and $0.6 million, respectively. Estimated future amortization expense, based upon the Company’s intangible asset, as of December 31, 2019 is as follows:

In thousands
Year Ending December 31,	Amount
2020	$	1,442
2021		1,442
2022		1,442
2023		1,442
2024		1,442
Thereafter		8,048
Total	$	15,258