Annual report [Section 13 and 15(d), not S-K Item 405]

GOODWILL AND INTANGIBLE ASSETS

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GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS

NOTE 5 – GOODWILL AND INTANGIBLE ASSETS

 

The following table provides the gross carrying amount and accumulated amortization for each major class of intangible asset:

 

    December 31,
2025		     December 31,
2024		  
    (in thousands)  
Intangible assets subject to amortization                
Developed technology   $ —     $ 10,100  
Less: Impairment charge     —       9,147  
Less: Accumulated amortization     —       953  
Total   $ —     $ —  
Intangible assets not subject to amortization                
Internet domain rights   $ 120     $ 120  
Total intangible assets, net   $ 120     $ 120  

  

 During the year ended December 31, 2024, the Company recorded amortization of $0.5 million.

 

As a result of certain triggering events identified impacting the Company’s commercialized products asset group during the second quarter of 2024, the Company tested the asset group for impairment as of June 30, 2024, resulting in a full impairment of its Zembrace and Tosymra developed technology intangible assets, of $6.2 million and $3.0 million, respectively, which is reflected in asset impairment charges in the consolidated statements of operations for the year ended December 31, 2024.