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LICENSED TECHNOLOGY | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
LICENSED TECHNOLOGY | NOTE 4 – LICENSED TECHNOLOGY On May 15, 2015, the Company acquired Abeona Therapeutics LLC, which had an exclusive license through Nationwide Children’s Hospital to the AB-101 and AB-102 patent portfolios for developing treatments for patients with Sanfilippo Syndrome Type A and Type B. The license is amortized over the life of the license of 20 years. On March 31, 2022, the Company announced that it was pursuing a strategic partner to take over development activities of ABO-102 and that it was discontinuing development of ABO-101. As a result of this shift in priorities, the Company determined the remaining value of the licensed technology had no future value and thus, recorded an impairment charge of nil and $1.4 million for the three and six months ended June 30, 2022, respectively. The following table provides a summary of licensed technology (in thousands): SCHEDULE OF LICENSED TECHNOLOGY
|  | June 30, 2022 |  |  | December 31, 2021 |
Licensed technology |  | $ | 2,156 |  |  | $ | 2,156 |
Less accumulated amortization |  |  | (801 | ) |  |  | (772 | )
Less impairment charge |  |  | (1,355 | ) |  |  | — |
Total licensed technology, net |  | $ | — |  |  | $ | 1,384 |
Amortization expense on licensed technology was nil and $29,000 for the three months ended June 30, 2022 and 2021, respectively and $29,000 and $44,000 for the six months ended June 30, 2022 and 2021, respectively.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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