Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

6.	Intangible assets and goodwill

Intangible assets, net

Intangible assets, net consist of the following as of June 30, 2021:

	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		(2,870	)		4,610		4.3
Total	$	63,280	$	(2,870	)	$	60,410

Amortization expense for the three months ended June 30, 2021 and 2020 was $0.3 million and $0.3 million, respectively, and for the six months ended June 30, 2021 and 2020 was $0.5 and $0.5 million, respectively.

As of June 30, 2021, future amortization expense is as follows:

	Amount
	(in thousands)
2021 (remaining six months)	$	533
2022		1,069
2023		1,069
2024		1,069
2025		870
Total	$	4,610

Intangible assets, net consist of the following as of December 31, 2020:

	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		(2,335	)		5,145		4.8
Total	$	63,280	$	(2,335	)	$	60,945

Goodwill

The following summarizes the change in the carrying value of goodwill for the three months ended June 30, 2021:

	Amount
	(in thousands)
Balance at December 31, 2020	$	14,608
Adjustment		—
Balance at June 30, 2021	$	14,608

No impairment has been recognized as of June 30, 2021. Goodwill recorded is not deductible for income tax purposes.