Goodwill — Goodwill represents the excess of the purchase price over the identifiable tangible and intangible assets acquired plus liabilities assumed arising from business combinations. The balance of goodwill was $1.9 million as of September 30, 2024 and December 31, 2023 as a result of the Company's acquisition of V-Go in May 2022. Goodwill is tested at least annually for impairment by assessing qualitative factors in determining whether it is more likely than not that the fair value of net assets is below their carrying amounts. See Note 1 – Description of Business and Significant Accounting Policies.

Other Intangible Assets — Other intangible assets consisted of the following (dollars in thousands):


	Estimated		September 30, 2024							December 31, 2023
	Useful Life (Years)		Cost		Accumulated Amortization			Net Book Value		Cost		Accumulated Amortization			Net Book Value
Developed technology		15	$	1,200	$	(187	)	$	1,013	$	1,200	$	(127	)	$	1,073
iSPERSE License – IPR&D		—		4,300		—			4,300		—		—			—
Total			$	5,500	$	(187	)	$	5,313	$	1,200	$	(127	)	$	1,073

Amortization expense related to the developed technology was de minimis for the three and nine months ended September 30, 2024 and 2023. The estimated annual amortization expense for the developed technology for the years ended December 31, 2024 through 2028 is approximately $0.1 million per year and $0.6 million, thereafter.

The iSPERSE License — IPR&D is an indefinite-lived intangible asset, and as such is not amortized but rather is tested for impairment when facts or circumstances indicate the carrying value of the asset may not be recoverable. Upon completion of the underlying R&D efforts, the intangible asset will be accounted for as a finite-lived intangible asset. If the R&D efforts are abandoned, the IPR&D asset balance will be written off to R&D expense.

The Company evaluates its other intangible assets for potential impairment annually and when events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. See Note 1 – Description of Business and Significant Accounting Policies.