Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Note 6 – Goodwill and Other Intangible Assets

Goodwill

The change in the carrying amounts of goodwill for the nine months ended September 30, 2020 was as follows (in thousands):

	Amount
Balance at December 31, 2019	$	51,154
Goodwill resulting from the acquisition of Novavax CZ		70,662
Currency translation adjustments		5,116
Balance at September 30, 2020	$	126,932

Identifiable Intangible Assets

Purchased intangible assets consisted of the following as of September 30, 2020 and December 31, 2019 (in thousands):

	September 30, 2020						December 31, 2019
	Gross						Gross
	Carrying		Accumulated		Intangible		Carrying		Accumulated		Intangible
	Amount		Amortization		Assets, Net		Amount		Amortization		Assets, Net
Finite-lived intangible assets:
Proprietary adjuvant technology	$	8,309	$	(2,977)	$	5,332	$	7,985	$	(2,562)	$	5,423
Collaboration agreements		3,752		(3,752)		—		3,606		(3,448)		158
Total identifiable intangible assets	$	12,061	$	(6,729)	$	5,332	$	11,591	$	(6,010)	$	5,581

Amortization expense for the nine months ended September 30, 2020 and 2019 was $0.5 million.

Estimated amortization expense for existing intangible assets for the remainder of 2020 and for each of the five succeeding years ending December 31 will be as follows (in thousands):

Year	Amount
2020	$	104
2021		415
2022		415
2023		415
2024		415
2025		415