Intangible Assets

6 Months Ended

Jun. 30, 2024

Intangible Assets

Intangible Assets

8. Intangible Assets

		As of June 30, 2024						As of December 31, 2023
	Estimated life (years)	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Capitalized Milestones	11	$	9,000	$	(2,399)	$	6,601	$	9,000	$	(1,972)	$	7,028

As of June 30, 2024, the Company’s finite-lived net intangible assets, which totaled $6,601 resulted from the capitalization of certain milestone payments made to Ipsen Pharma, S.A.S., or Ipsen, in accordance with the terms of the Company’s license agreement with Ipsen, in connection with the Company’s first commercial sale of IMCIVREE in the U.S. in March 2021 and in France in March 2022.

As of June 30, 2024, amortization expense for the next five years and beyond is summarized as follows:

2024	$	427
2025		855
2026		855
2027		855
2028		855
Thereafter		2,754
Total	$	6,601

Amortization expense totaled $214, $427, $214, and $428 for the three and six months ended June 30, 2024 and 2023, respectively. Amortization expense is included in cost of sales in the condensed consolidated statements of operations and comprehensive loss.