Goodwill and Intangible Assets

The Company completes its annual impairment test on October 1 each year, or more frequently if triggering events indicate a possible impairment. The Company continually evaluates financial performance, economic conditions and other relevant developments in assessing if an interim period impairment test is necessary. The Company's goodwill balance at December 31, 2018 and 2017 was $1.9 million.

Intangible assets consist of IPR&D acquired as part of the Merger. IPR&D assets represent research and development assets that have not yet reached commercialization. The Company's intangible assets consist of the following:



	Year Ended December 31,
	2018		2017
NPS	$	5,700	$	5,700
GALE-401	—		9,100
GALE-301 and GALE-302	2,800		2,800
	$	8,500	$	17,600

The Company's IPR&D assets consist of the NPS program for the prevention of cancer recurrent in breast cancer patients, and the GALE-301 and GALE-302 programs for the prevention of cancer recurrent in ovarian and endometrial cancer patients in the adjuvant setting. In the fourth quarter of 2018, the Company abandoned future development efforts for the IPR&D asset associated with the GALE-401 product candidate and recorded an impairment charge of $9.6 million, which was equal to the acquired value of GALE-401 of $9.1 million plus $0.5 million recorded as deposits and other assets related to upfront milestone payments associated with that product candidate. The abandonment also resulted in an income tax benefit of $1.4 million.