Quarterly report pursuant to Section 13 or 15(d)

Acquisition of Patents and Intangibles (Tables)

v3.20.2
Acquisition of Patents and Intangibles (Tables)
 3 Months Ended
Aug. 31, 2020
Summary of the Net Purchase Price and Allocation to the Acquired Assets
A summary of the net purchase price and allocation to the acquired assets is as follows (in thousands):
 
    
ProstaGene,
LLC
  
CytoDyn Inc. equity
    $ 11,558  
Acquisition expenses
      741  
Release of deferred tax asset
      2,827  
  
 
 
  
Total cost of acquisition
    $ 15,126  
  
 
 
  
Intangible assets
    $ 15,126  
Other
      —    
  
 
 
  
Allocation of acquisition costs
    $ 15,126  
  
 
 
  
Intangible Assets Activity
The following presents intangible assets activity, inclusive of patents (in thousands):
 
     August 31, 2020      May 31, 2020  
Leronlimab (PRO 140) patent
    $ 3,500      $ 3,500  
ProstaGene, LLC intangible asset acquisition
      15,126        15,126  
Website development costs
      20        20  
Accumulated amortization
      (5,687 )       (5,190 ) 
  
 
 
     
 
 
  
Total amortizable intangible assets, net
      12,959        13,456  
Patents currently not amortized
      —          —    
  
 
 
     
 
 
  
Carrying value of intangibles, net
    $ 12,959      $ 13,456