Intangibles

6 Months Ended

Jun. 30, 2026

Intangibles

Intangibles

4. Intangibles

As a result of the Acquisition of Theriva S.L., the Company has an intangible asset, in-process research and development (“IPR&D”). The IPR&D is deemed to have indefinite lives and therefore not amortized.

The following table provides the Company’s in-process R&D as of June 30, 2026.

	In-process
	R&D (in thousands)
Balance at December 31, 2025	$	19,619
Effects of exchange rates		(555)
Balance at June 30, 2026	$	19,064

There were no impairment charges recorded during the three and six months ended June 30, 2026 and 2025.