Interpace Biosciences®, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Other Intangible Assets

Note 4 - Other Intangible Assets

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Text Block]

4.	OTHER INTANGIBLE ASSETS

The net carrying value of the identifiable intangible assets as of September 30, 2016 is as follows:

			As of September 30, 2016			As of December 31, 2015
	Life		Carrying			Carrying
	(Years)		Amount			Amount
Diagnostic assets:
Asuragen acquisition:
Thyroid		9	$	8,519		$	8,519
Pancreas		-		-			2,882
Biobank		-		-			1,575
RedPath acquisition:
Pancreas test		7		16,141			16,141
Barrett's test		9		18,351			18,351
Total			$	43,011		$	47,468
Diagnostic lab:
CLIA Lab		2.3	$	609		$	609

Accumulated Amortization			$	(6,400	)	$	(4,585	)

Net Carrying Value			$	37,220		$	43,492

Amortization expense was approximately $1.0 million for the three-month periods ended September 30, 2016 and 2015, respectively, and $2.9 million and $2.8 million for the nine-month periods ended September 30, 2016 and 2015, respectively. Amortization of our diagnostic assets begins upon launch of the product. Estimated amortization expense for the next five years is as follows, based on current assumptions of future product launches:

2016				2017				2018				2019				2020
$	3,771			$	4,272			$	5,292			$	5,292			$	5,292

During the quarter ended September 30, 2016 the Company recorded an asset impairment charge of approximately $3.4 million resulting from a decline in the market value of Pancreas and Biobank assets associated with the acquisition of certain assets from Asuragen.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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