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Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Schedule of Intangible Assets

The gross carrying amounts and net book value of intangible assets were as follows (in thousands):

 

 

 

March 31, 2023

 

 

 

Gross Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

Acquired license agreement

 

$

26,685

 

 

$

3,930

 

 

$

22,755

 

In-place lease

 

 

1,433

 

 

 

334

 

 

 

1,099

 

Total intangible assets with finite lives

 

 

28,118

 

 

 

4,264

 

 

 

23,854

 

Acquired in-process research & development (IPR&Dˮ) assets

 

 

36,550

 

 

 

 

 

 

36,550

 

Total intangible and acquired IPR&D assets

 

$

64,668

 

 

$

4,264

 

 

$

60,404

 

 

 

 

 

December 31, 2022

 

 

 

Gross Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

Acquired license agreement

 

$

26,685

 

 

$

3,538

 

 

$

23,147

 

In-place lease

 

 

1,433

 

 

 

293

 

 

 

1,140

 

Total intangible assets with finite lives

 

 

28,118

 

 

 

3,831

 

 

 

24,287

 

Acquired IPR&D assets

 

 

36,550

 

 

 

 

 

 

36,550

 

Total intangible and acquired IPR&D assets

 

$

64,668

 

 

$

3,831

 

 

$

60,837

 

Schedule of Finite-Lived Intangible Assets Estimated Future Amortization Expense Based on finite-lived intangible assets recorded as of March 31, 2023, the estimated future amortization expense for the next five years is as follows (in thousands):

Year Ending December 31,

 

Estimated
Amortization
Expense

 

2023 (remaining nine months)

 

$

1,299

 

2024

 

 

1,733

 

2025

 

 

1,733

 

2026

 

 

1,733

 

2027

 

 

1,733

 

Thereafter

 

 

15,623