During the nine months ended September 30, 2023, the Company experienced a sustained decline in its stock price resulting in its market capitalization being less than the carrying value of its combined reporting units. The Company concluded the sustained decline in its stock price combined with the decision to discontinue certain Cell Therapy clinical trials and development were triggering events and performed a quantitative impairment test on goodwill and acquired IPR&D assets. Based on the results of the impairment analysis, the Company recognized an $82,714 and $112,347 goodwill impairment charge for the three and nine months ended September 30, 2023, respectively, relating to the Cell Therapy reporting unit in its condensed consolidated statements of operations and comprehensive loss. There was no goodwill impairment recognized during the three and nine months ended September 30, 2024. The carrying value of goodwill, all of which is assigned to the Company's BioBanking reporting unit, was $7,347 at both September 30, 2024 and December 31, 2023.

Intangible assets, net consisted of the following:


	September 30, 2024			December 31, 2023			Estimated Useful Lives
Amortizable intangible assets:
Developed technology	$	16,810		$	16,810		11 – 16 years
Customer relationships		2,413			2,413		10 years
Trade names & trademarks		570			570		10 – 13 years
Reacquired rights		4,200			4,200		6 years
		23,993			23,993
Less accumulated amortization:
Developed technology		(8,600	)		(7,722	)
Customer relationships		(1,898	)		(1,700	)
Trade names & trademarks		(371	)		(330	)
Reacquired rights		(4,200	)		(3,940	)
		(15,069	)		(13,692	)
Amortizable intangible assets, net		8,924			10,301

Non-amortized intangible assets
Acquired IPR&D product rights		700			700		indefinite
	$	9,624		$	11,001

For the three months ended September 30, 2024 and 2023, amortization expense for intangible assets was $375 and $553, respectively. For the nine months ended September 30, 2024 and 2023, amortization expense for the intangible assets was $1,377 and $1,640, respectively.

No impairment charges were recorded on intangible assets for the three and nine months ended September 30, 2024. During the three and nine months ended September 30, 2023, the Company discontinued its unmodified NK cell and AML Cell Therapy clinical trials and as a result recorded an IPR&D impairment of $107,800 on its CYNK-001 and GMNK intangible assets acquired from the Anthrogenesis acquisition.