Intangible Assets

3 Months Ended

Mar. 31, 2022

Intangible Assets

Intangible Assets

5. Intangible Assets

The Company’s intangible assets consist of the following (in thousands):

	March 31, 2022
		Gross
	Estimated	Carrying		Accumulated				Net Book
	Useful Lives	Value		Amortization		Impairment		Value
IPR&D assets	Indefinite	$	12,419	$	—	$	—	$	12,419
Total		$	12,419	$	—	$	—	$	12,419

	December 31, 2021
		Gross
	Estimated	Carrying		Accumulated				Net Book
	Useful Lives	Value		Amortization		Impairment		Value
Internally developed patents	6–20 years	$	1,079	$	(500)	$	(579)	$	—
Acquired licenses	16–20 years		285		(285)		—		—
Total intangible assets subject to amortization			1,364		(785)		(579)		—
IPR&D assets	Indefinite		12,419		—		—		12,419
Total		$	13,783	$	(785)	$	(579)	$	12,419

There was no amortization expense of intangible assets subject to amortization for the three months ended March 31, 2022. Amortization expense of intangible assets subject to amortization totalled $6,640 for the three months ended March 31, 2021. Amortization expense was classified as research and development expenses in the consolidated statements

of operations and comprehensive loss. There was no in-process research and development (“IPR&D”) impairment loss during the three months ended March 31, 2022 and the year ended December 31, 2021.