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Intangible Assets, Net
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net Intangible Assets, Net
The following table presents the components of the Company’s intangible assets, net ($ in thousands):
September 30, 2024December 31, 2023
Gross Carrying AmountAccumulated AmortizationNet Carrying ValueGross Carrying AmountAccumulated AmortizationNet Carrying Value
Finite-lived intangible assets
Commercial products (i)52,050 (1,881)50,169 11,351 (186)11,165 
Software4,215 (2,715)1,500 4,340 (2,116)2,224 
Total56,265 (4,596)51,669 15,691 (2,302)13,389 
(i) The increase in the net carrying value is primarily driven by $33.0 million of regulatory milestone fees for repotrectinib and SUL-DUR (see Note 13) and $6.0 million of commercial development costs.
Intangible assets for commercial products include capitalized post-approval milestone fees and commercial manufacturing development costs. The Company is amortizing commercial products as cost of product revenue over the estimated remaining useful life of the related products. Externally purchased software is amortized over three to five years on a straight-line basis.
Amortization expense was $0.7 million and $2.3 million in the three and nine months ended September 30, 2024, respectively, and $0.2 million and $0.5 million in the three and nine months ended September 30, 2023, respectively.