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Goodwill and Intangible assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible assets Goodwill and Intangible assets
Goodwill
Goodwill of $16.9 million represents the excess of the purchase price over the estimated fair value of the net assets acquired from Humabs. There was no impairment for the years ended December 31, 2025, 2024 and 2023.
Intangible Assets
The following table summarizes the carrying amount of the finite-lived intangible assets (in thousands):
December 31,Weighted-Average Remaining
Useful Life (Years)
20252024
Developed technology$4,260 $4,260 3.8
Contract-based intangible assets914 914 7.0
Finite-lived intangible assets, gross5,174 5,174 
Less accumulated amortization(3,846)(3,576)
Finite-lived intangible assets, net$1,328 $1,598 
The developed technology primarily includes the antibody platform acquired in connection with the business combination of Humabs in 2017. The contract-based intangible assets include intangibles from the product approval of a sublicensed intellectual property right in December 2020, which was previously accounted for as IPR&D, and intangibles recognized for workforce capitalized under the Company’s Sanofi Agreement (as defined in Note 6 Collaboration and License Agreements). Amortization expense related to finite-lived intangible assets totaled $0.4 million, $0.3 million and $0.5 million for the years ended December 31, 2025, 2024 and 2023, respectively, primarily included as research and development expenses on the consolidated statements of operations. There was no impairment for the years ended December 31, 2025, 2024 and 2023.
The estimated future amortization expense for the next five years is as follows (in thousands):
Years Ending December 31:
2026$296 
2027296 
2028296 
2029241 
203036 
Total$1,165 
Indefinite-Lived Intangible Assets
As of December 31, 2025 and 2024, the Company had indefinite-lived intangible assets of $6.5 million related to the IPR&D from the Humabs acquisition. No impairment losses were recorded for the year ended December 31, 2025. For the years ended December 31, 2024 and 2023, $14.6 million and $9.7 million impairment losses were recorded as part of research and development expenses for IPR&D assets related to non-prioritized or abandoned research programs, respectively.