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Intangible Assets, Net
 3 Months Ended
Mar. 31, 2025
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):
March 31, 2025December 31, 2024
Gross Carrying AmountAccumulated AmortizationNet Carrying ValueGross Carrying AmountAccumulated AmortizationNet Carrying Value
Finite-lived intangible assets
Commercial products58,744 (3,953)54,791 57,104 (2,637)54,467 
Software4,366 (2,959)1,407 4,360 (2,800)1,560 
Total63,110 (6,912)56,198 61,464 (5,437)56,027 
Intangible assets for commercial products include capitalized post-approval milestone fees and acquired commercial manufacturing know-how and related development costs. The Company is amortizing intangible assets for commercial products as cost of product revenue over the estimated remaining useful life of the related products. Intangible assets for externally purchased software are amortized over three to five years on a straight-line basis.
Amortization expense was $1.5 million and $0.7 million in the first quarter of 2025 and 2024, respectively.