Quarterly report pursuant to Section 13 or 15(d)

ASSET PURCHASE AGREEMENT WITH UPSHER-SMITH (Tables)

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ASSET PURCHASE AGREEMENT WITH UPSHER-SMITH (Tables)
 6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
The following table summarizes the components of the purchase consideration (in thousands):

The following table summarizes the components of the purchase consideration (in thousands):

 

Purchase consideration   Amount  
Closing cash consideration   $ 22,174  
Inventory adjustment payment liability     1,348  
Deferred payment liability     3,000  
Purchase price to be allocated   $ 26,522  
The following table represents the allocation of the purchase price to the assets acquired by the Company in the USL Acquisition recognized in the Company’s consolidated balance sheets (in thousands):

The following table represents the allocation of the purchase price to the assets acquired by the Company in the USL Acquisition recognized in the Company’s consolidated balance sheets (in thousands):

 

Purchase price allocation   Amount  
Inventory   $ 13,700  
Prepaid expenses and other     1,757  
Intangible assets, net     10,100  
Goodwill     965  
Fair value of assets acquired   $ 26,522  
The identifiable intangible assets acquired and their estimated useful lives for amortization are as follows (in thousands):

Intangible assets eligible for recognition separate from goodwill were those that satisfied either the contractual or legal criterion or the separability criterion in the accounting guidance. The identifiable intangible assets acquired and their estimated useful lives for amortization are as follows (in thousands):

 

    Fair Value     Useful Life
(years)		  
Developed technology - Tosymra   $ 3,400       8  
Developed technology - Zembrace     6,700       13  
Total   $ 10,100