Licensed Rights and Other Intangible Assets

6 Months Ended

Jun. 30, 2025

Licensed Rights and Other Intangible Assets [Abstract]

Licensed rights and other intangible assets

4. Licensed rights and other intangible assets

The following provides information about our license rights and other intangible assets, net as of June 30, 2025 and December 31, 2024 (in thousands):

	June 30, 2025						December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Intangible assets subject to amortization:
Hormone therapy drug patents	$	5,767	$	2,248	$	3,519	$	5,766	$	2,058	$	3,708
Hormone therapy drug patents applied and pending approval		215		—		215		304		—		304
Intangible assets subject to amortization		5,982		2,248		3,734		6,070		2,058		4,012
Intangible assets not subject to amortization:
Trademarks/trade name rights		309		—		309		309		—		309
License rights and other intangible assets, net	$	6,291	$	2,248	$	4,043	$	6,379	$	2,058	$	4,321

We recorded, in continuing operations, amortization expense related to patents of $95 thousand and $180 thousand for the three months ended June 30, 2025 and 2024, respectively, and $190 thousand and $313 thousand for the six months ended June 30, 2025 and 2024, respectively.

The Company conducts regular reviews of the individual patents and portfolios. During the three months ended March 31, 2025, we recorded $88 thousand in write-off of patents pending approval as a result of our review. For the six months ended June 30, 2024, the Company determined it had an indicator of impairment, as it had abandoned the legal right and title to a portion of its granted patent portfolio and had ceased pursuit of a portion of its pending patents based on input from its licensing partners. The Company recognized an impairment loss of $1,261 thousand related to those abandoned patents and applications, which is classified as an impairment of long-lived assets on the Company’s condensed consolidated statements of operations.

Our intangible assets subject to amortization are expected to be amortized as follows (in thousands):

Year ending December 31,
2025	$	289
2026		384
2027		384
2028		385
2029		384
Thereafter		1,693
Total	$	3,519