Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

7.Intangible assets and goodwill

Intangible assets, net

Intangible assets, net consist of the following as of March 31, 2024:

	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		(5,808	)		1,672		1.6
Total	$	63,280	$	(5,808	)	$	57,472

Amortization expense for the three months ended March 31, 2024 and 2023 was $0.3 million.

As of March 31, 2024, future amortization expense is as follows:

	Amount
	(in thousands)
2024 (remaining nine months)	$	802
2025		870
Total	$	1,672

Intangible assets, net consist of the following as of December 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		(5,541	)		1,939		1.9
Total	$	63,280	$	(5,541	)	$	57,739

Goodwill

The following summarizes the change in the carrying value of goodwill for the three months ended March 31, 2024:

	Amount
	(in thousands)
Balance at December 31, 2023	$	14,608
Adjustment		—
Balance at March 31, 2024	$	14,608

No impairment has been recognized as of March 31, 2024. Goodwill recorded is not deductible for income tax purposes.