Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

6.Intangible assets and goodwill

Intangible assets, net

Intangible assets, net consist of the following as of March 31, 2023:

	Gross value		Accumulated amortization			Net book value		Weighted- average remaining useful life
	(in thousands)							(in years)
In-process research and development — RAS    Programs	$	55,800	$	—		$	55,800	n/a
Developed technology — tri-complex platform		7,480		(4,740	)		2,740		2.7
Total	$	63,280	$	(4,740	)	$	58,540

Amortization expense for the three months ended March 31, 2023 and 2022 was $0.3 million.

As of March 31, 2023, future amortization expense is as follows:

	Amount
	(in thousands)
2023 (remaining nine months)	$	802
2024		1,069
2025		869
Total	$	2,740

Intangible assets, net consist of the following as of December 31, 2022:

	Gross value		Accumulated amortization			Net book value		Weighted- average remaining useful life
	(in thousands)							(in years)
In-process research and development — RAS    Programs	$	55,800	$	—		$	55,800	n/a
Developed technology — tri-complex platform		7,480		(4,473	)		3,007		2.9
Total	$	63,280	$	(4,473	)	$	58,807

Goodwill

The following summarizes the change in the carrying value of goodwill for the three months ended March 31, 2023:

	Amount
	(in thousands)
Balance at December 31, 2022	$	14,608
Adjustment		—
Balance at March 31, 2023	$	14,608

No impairment has been recognized as of March 31, 2023. Goodwill recorded is not deductible for income tax purposes.