Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Intangible Assets, Net [Abstract]

Intangible assets, net

5. Intangible assets, net

Major components of intangible assets as of December 31, 2023 are as follows (in thousands):

	Useful Lives	Cost		Accumulated Amortization			Total
License agreements	20 years	$	2,043	$	(909	)	$	1,134
Patent costs			959		-			959
Trademark costs			194		-			194
Total		$	3,196	$	(909	)	$	2,287

Major components of intangible assets as of December 31, 2022, are as follows (in thousands):

	Useful Lives	Cost		Accumulated Amortization			Total
License agreements	20 years	$	2,043	$	(685	)	$	1,358
Patent costs			887		-			887
Trademark costs			164		-			164
Total		$	3,094	$	(685	)	$	2,409

Amortization expense related to intangible assets amounted to approximately $0.2 million for the years ended December 31, 2023 and 2022. During the year ended December 31, 2023, the Company wrote-off $0.3 million of abandoned patents that it was no longer pursuing in several jurisdictions.

Future amortization expense for intangible assets as of December 31, 2023 is approximately as follows (in thousands):

Year Ending December 31,	Amount
2024	$	224
2025		224
2026		102
2027		61
2028		61
Thereafter		462
Total	$	1,134