The Company’s IPR&D assets represent the estimated fair value of the pipeline of radiotherapy product candidates acquired from Viewpoint in February 2023. During the fourth quarter of 2025, as part of its annual qualitative analysis, the Company determined it will no longer pursue further development of an early-stage preclinical asset within its IPR&D portfolio. In connection with and as a result of this assessment, the Company recorded a $10.0 million noncash impairment loss for the three months ended December 31, 2025, which is recognized in “research and development” operating expenses in the Consolidated Statements of Operations and Comprehensive Loss. No IPR&D impairment loss was recorded in 2024.

The following table summarizes the components of the Company’s indefinite-lived intangible assets (in thousands):


	December 31, 2025							December 31, 2024
	Cost		Impairment			Net Carrying Value		Cost		Impairment		Net Carrying Value
Indefinite-lived intangible assets
In-process research and development	$	50,000	$	(10,000	)	$	40,000	$	50,000	$	-	$	50,000
Total	$	50,000	$	(10,000	)	$	40,000	$	50,000	$	-	$	50,000

For additional information related to IPR&D, see Note 2, Summary of Significant Accounting Policies.

As a result of a decline in the Company’s stock price and related market capitalization in November 2024 that continued into December 2024, the Company performed a quantitative impairment assessment of its goodwill. The goodwill was determined to be fully impaired as of December 31, 2024, and the Company recorded a goodwill impairment charge of $24.1 million for the year ended December 31, 2024. This impairment charge reduced the balance of goodwill to $0 at December 31, 2024.

Other assets, net of accumulated amortization consisted of the following (in thousands):


	December 31, 2025			December 31, 2024
Website development	$	90		$	90
Interest in GT Medical		151			196
Security deposits		207			72
Total other assets		448			358
Less: Accumulated amortization		(86	)		(79	)
		362			279
Equity method investment1		124			126
Total other assets, net	$	486		$	405

On August 23, 2022, the Company acquired 20% of the outstanding equity interests of RadRelease Pharmaceuticals LLC (RadRelease), an Indiana limited liability company, pursuant to a Membership Interest Purchase Agreement (MIPA), dated August 23, 2022, by and among RadRelease and the Company. Pursuant to the MIPA, the Company paid RadRelease approximately $0.2 million in cash consideration. The investment is recorded on a one-quarter lag. Included in the consolidated financial statements for the year ended December 31, 2025 is the Company’s proportional share of losses, which was de minimis.


	Year Ended December 31,
	2025		2024
Amortization expense on website development	$	7	$	7
Total amortization expense	$	7	$	7