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Intangible Asset | 12 Months Ended
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Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Intangible Asset | (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 9.6 years. The carrying value as of December 31, 2020 and 2019 is as follows:
In thousands |  | December 31, 2020 |  |  | December 31, 2019 |
Technology rights |  | $ | 20,081 |  |  | $ | 20,081 |
Accumulated amortization |  |  | (6,264 | ) |  |  | (4,823 | )
Intangible asset, net |  | $ | 13,817 |  |  | $ | 15,258 |
Amortization expense for the years ended December 31, 2020 and 2019 was $1.4 million and $0.7 million, respectively. Estimated future amortization expense, based upon the Company’s intangible asset, as of December 31, 2020 is as follows:
In thousands |  |  |  |
Year Ending December 31, |  | Amount |
2021 |  | $ | 1,442 |
2022 |  |  | 1,442 |
2023 |  |  | 1,442 |
2024 |  |  | 1,442 |
2025 |  |  | 1,442 |
Thereafter |  |  | 6,607 |
Total |  | $ | 13,817 |

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- Definition The entire disclosure for all or part of the information related to 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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