Intangible Assets

3 Months Ended

Mar. 31, 2014

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 6—INTANGIBLE ASSETS

Intangible assets for in-process research and development (IPR&D) consist of two clinical product candidates from our acquisition of Ceregene. IPR&D is an intangible asset classified as an indefinite-lived until the completion or abandonment of the associated research and development effort, and will be amortized over an estimated useful life to be determined at the date the project is completed.

A summary of these assets and estimated fair values are as follows (in thousands):

	As of March 31, 2014		As of December 31, 2013
CERE-110 for the treatment of Alzheimer’s disease	$	1,640	$	1,640
CERE-120 for the treatment of Parkinson’s disease		230		230
Total identifiable intangible assets	$	1,870	$	1,870

The excess of the consideration transferred over the fair values assigned to the assets acquired and liabilities assumed, which is also known as goodwill, was $1.6 million. There was no change in goodwill for the three months ended March 31, 2014.